Annual Report 2024-25

Gold shines through….

Unlocking possibilities.
Contents
About us Key highlights of FY 2024-25
02 Prelude
04 Corporate Snapshot
08 Financial Highlights ` 1304.46 Million ` 130.37 Million
10 From the Desk of the CEO Total income Profit before tax
12 Digital Initiatives 12% 39%
14 Corporate Social Responsibility
16 Board of Directors
18 Leadership Team
` 18,430.91 Million
` 102.81 Million Disbursements
Statutory Reports Profit after tax as on 31 March 2025

37% 12%
18 Directors' Report
26 Management Discussion and
Analysis
` 6,152 Million
` 21,669.45 Million Assets under
Financial Statements Funds raised during the management (AUM)
year under review as on 31 March 2025
41 Independent auditor’s report
14%
50 Balance Sheet
51 Statement of profit and loss
52 Cash Flow Statement
65049 2.29% 0.95%
Customer acquisition Gross NPA Net NPA
54 Notes to the Financial statements
as on 31 March 2025

Growth in FY 2024-25 over FY 2023-24

As a financial institution, maintaining healthy

asset quality is crucial for sustainable
profitability. Our overall credit cost remains
well within less than one percent. Our provision
coverage ratio also improved compared to the
previous year. Non-Performing Assets (NPAs)
during the reporting period were identified
based on 120-day overdue criteria. In FY26, this
will transition to a 90-day criterion, which may
lead to increased provisions and credit costs,
even as we intensify our efforts to improve
collections. Read more on page 10
Securing Aspirations.
Shining with gold.
Gold has always held a safe, reliable, and swift With a strong focus on
sacred place in Indian alternative that speaks to the grassroots of South
households. More than the needs of millions. India, our lending model
an heirloom or a symbol is designed to be quick,
of prosperity, it has Technology is playing a compassionate, and
stood silently by families pivotal role in this shift. digitally enabled. Each loan
through generations, The lending journey has we extend is more than
offering strength in become simpler, faster, a financial transaction.
moments of need. Today, and more transparent, It is a step forward for a
as the financial landscape with doorstep services and household, a fresh start
evolves, gold is once again digital platforms making for a small business,
proving its worth as a gold loans more accessible or a shield for a family
trusted bridge between than ever. This blend of facing uncertainty.
aspiration and access. tradition and innovation is
expanding the boundaries In a world of constant
FY 2024–25 was a defining of financial inclusion. change, gold offers stability.
year for the gold loan In a credit ecosystem that
sector. Buoyed by rising At Yogakshemam Loans is becoming more selective,
gold prices, heightened Limited, we are proud to be gold loans offer safety
demand for secure credit, part of this transformation. and dignity. And across
and growing financial communities filled with
awareness in semi-urban untapped potential, we are
and rural India, gold ensuring that no dream
loans have emerged as a remains locked away.
preferred option. In an
environment of tightening
norms around unsecured
lending, they offer a
Yogakshemam Loans Limited

A timeless asset,
a timely solution

Gold has long held cultural and economic significance in India, not just
as ornamentation but as a reliable store of household wealth. Today, this
traditional asset is being reimagined as a powerful financial instrument. Gold
loans have emerged as one of the most accessible, efficient, and inclusive
forms of credit.
As the economy moves towards greater formalisation, gold-backed lending is
unlocking household capital to fuel enterprise, enable livelihoods, and build
financial resilience. With minimal paperwork and instant disbursal, gold loans
are now a preferred choice across borrower segments, from urban earners to
rural entrepreneurs, valued for their speed, simplicity, and trust.

2 | Annual Report 2024-25

 Corporate Overview | Statutory Reports | Financial Statements

A commodity of trust, a Financial inclusion engine Fuel for micro-enterprises and

catalyst for credit for Bharat economic upliftment

With an estimated 20,000–25,000 In semi-urban and rural India, By monetising idle household
tonnes of gold in Indian households, where formal credit penetration gold, borrowers are able to unlock
this asset class represents an remains limited, gold loans provide a capital for productive use—funding
untapped credit reservoir. Unlike crucial bridge. They bring first-time micro-business expansion, meeting
other lending products, gold loans are borrowers—farmers, small traders, agricultural needs, managing
accessible irrespective of credit scores informal workers—into the formal emergencies, or supporting
or income levels. Organised lenders, credit net, allowing them to access education. This catalytic flow of
especially NBFCs, are harnessing this liquidity without complex paperwork capital stimulates local economies,
potential by reimagining the gold loan or dependency on unregulated strengthens MSMEs, and enhances
experience, offering tech-enabled sources. This contributes to not employment. Gold loans thus
onboarding, doorstep services, and just financial empowerment, but function as accelerators of grassroots
frictionless digital repayments. This also to equitable socio-economic enterprise and community resilience.
evolution is redefining the sector’s development across geographies.
relevance in India’s credit story.

Resilient through Digital acceleration and Policy backing and market

economic cycles changing consumer behaviour validation

Gold loans are inherently counter Technology is transforming the gold Supportive regulations from the
cyclical. During economic slowdowns, loan landscape. Leading players are RBI—such as calibrated LTV norms,
when unsecured lending contracts digitising every touchpoint—from customer safeguards, and pandemic-
and liquidity tightens, gold-backed app-based onboarding and AI-led era relaxations—have enhanced
credit remains buoyant. Lenders appraisals to online renewals— sectoral credibility and stability.
benefit from the low-risk profile creating a seamless, secure, and Investor confidence in top gold loan
of fully collateralised loans, while personalised customer journey. This is NBFCs remains strong, underpinned
borrowers gain access to affordable also reshaping perceptions: younger by high credit ratings, transparent
credit without liquidating long-term borrowers increasingly view gold governance, and consistent returns.
assets. This stability enhances the loans as a smart, short-term credit The sector’s ability to balance
sector’s systemic value in maintaining option rather than a distress-driven scale with prudence has made it an
financial continuity. last resort. attractive asset class in India’s lending
landscape.

A scalable lever for inclusive growth

As India progresses toward its $5 Fintech partnerships and co-lending

trillion economy target, gold loans are models are further widening
set to play a larger role in expanding reach and improving efficiency. By
credit access. Growth will be driven combining financial access with
by deeper rural penetration, hybrid cultural familiarity, gold loans are
phygital models, and tailored turning idle household wealth
products like EMI-based loans, into productive capital, advancing
overdraft facilities, and gold-backed inclusion and supporting resilient
cards. economic growth.

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Yogakshemam Loans Limited

Corporate Snapshot

Empowering Dreams. ,
Enabling Progress.

At the heart of our business is a simple belief: every aspiration, whether

big or small, deserves the chance to thrive. While gold loans remain
a key part of our foundation, we have grown into a trusted financial
partner supporting a range of needs, from home ownership and
business growth to navigating life’s unexpected challenges.
Our loan portfolio is thoughtfully designed to meet diverse goals
through fast, reliable, and transparent processes. More than offering
financial products, we provide accessible possibilities. We understand
that time matters and that trust is built through consistency. This is
why we continue to improve our approach to make borrowing both
seamless and meaningful.

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 Corporate Overview | Statutory Reports | Financial Statements

Inclusion guides everything we do. By simplifying access to finance

and prioritising customer convenience, we strive to break barriers
and create opportunities. Our commitment is not just to enable
transactions but to support real transformations, helping individuals,
families, and enterprises shape a future they can be proud of. Our Vision
To emerge as the most trusted financial
solution provider in India, with a special
focus on emerging segments of society,
Where it all began through a nationwide, efficient and service-
oriented network.
Our story began in 1991 in Narayanan. Together, we infused
the quiet village of Anthikad fresh energy, strategic direction,
in Thrissur, Kerala, as and financial strength into
Yogakshemam Kuries & Loans Yogakshemam.
Private Limited. What started as
a local initiative soon became a Assuming the role of
trusted financial support system Managing Director & CEO, Our Mission
for the community. In 2000- Mr. I Unnikrishnan, has had
01, we achieved a significant the privilege of leading our Our organisation will strive to provide the
milestone by securing our NBFC transformation journey, driving best financial solutions to the customers
registration from the Reserve expansion, product innovation with the highest levels of professionalism
Bank of India, paving the way for and long-term resilience. in every aspect of their dealings with them.
broader opportunities. All interactions with our stakeholders
A diversified NBFC for would be based on our core values of
Kerala was just the beginning. diverse needs ethical, transparent and trustworthy
Over the years, we steadily While gold loans have been conduct in an effort to create and enhance
expanded our presence into our foundation, we recognised confidence in them. Our dedicated team
Tamil Nadu, Andhra Pradesh, the need to evolve. Today, will always remain committed to delivering
and Karnataka. Today, our our portfolio includes a range genuine value to all its stakeholders
extensive branch network of financial solutions tailored through innovative ideas using appropriate
helps us serve a diverse and to meet diverse needs. from technologies matched by high-level
growing customer base across personal finance and working execution capabilities and standards. We
South India, bringing financial capital to emergency funding. would ensure a culture of learning (and
empowerment to every Every product is designed unlearning wherever required), in the team,
doorstep. to be accessible, timely, and in order to achieve the highest standards
empowering. of service excellence that would exceed
The year 2015 marked a turning the expectations of customers, employees,
point. That’s when we had the Our goal is to emerge as a shareholders and all stakeholders. A
honour of joining hands with nationally respected NBFC courteous approach, commitment to
Mr. Ramachandran Ottapath, with a balanced and diversified service, empathy, a deep sense of integrity
CEO of the Botswana-based asset base. But more than that, and transparency in dealings will be the
Choppies group and Mr. I we aspire to be a catalyst for hallmark of the organisation. We shall
Unnikrishnan MD& CEO, they progress, helping individuals acknowledge, share and appreciate the
infused fresh capital to the and enterprises fulfil their achievements of each member of our family
Company and took over aspirations with confidence and in the true spirit of camaraderie and fealty.
the management from the clarity. Above all, each member of our family shall
founding team lead by Mr. N.D. strive to be a better human being.

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Yogakshemam Loans Limited

Corporate Snapshot

At a glance

5 957.09 tonnes 4
Product offered Gold assets States
as on March 31, 2025

169 1,035 65,049

Branches Employees Customers

Our Product Range

Vehicle loan 5.94% MSME

13.61%
Gold loan Micro finance
Consumer
durable loan Microfinance
Broad-based 1.23%
Lending
Portfolio

Consumer
78.84% 0.38% durable
Vehicle loan SME loan
Gold loan

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 Corporate Overview | Statutory Reports | Financial Statements

Diverse Funding Channels

We have built strong and we also actively tap into retail 24.15%
enduring relationships with a Non-Convertible Debentures
wide network of over banks, (NCDs) and subordinated debt 37.46%
enabling us to maintain robust instruments, broadening our
credit lines that comfortably funding mix and enhancing
support both our operational our capital efficiency.
needs and long-term strategic
plans. Our financial resilience In addition to the organic
is further reinforced by a solid structure, we utilise Co-
buffer of unutilised limits lending opportunites for
from banks and financial business growth by entering
institutions, offering us into partnership with Bank. 4.73%
33.66%
ample headroom to respond Our Co-lending partnership
to emerging opportunities with Indusind Bank helped us Scheduled Banks NBFCs
or challenges. Beyond to build a loan book of about
conventional bank funding, `1000 million Small Finance Banks NCD & Sub debts

Our Footprint
Kerala Tamil Nadu
34.95% 41.64%

AUM

73 24 Contribution
by States
No of branches No of branches

Andhra Pradesh Karnataka

7.19% 16.22%

Kerala Tamil Nadu

Andhra Pradesh Karnataka

18 54
No of branches No of branches

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Yogakshemam Loans Limited

Financial Highlights

Strengthening a
Sustainable Foundation

Total income (₹ in lakh) Profit after tax (₹ in lakh)

747.41

785.52

916.19

1,163.50

1304.46

93.76

61.91

60.56

75.25

FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 102.81 FY25

AUM (₹ in lakh) Disbursement (₹ in lakh)

3508.95

3387.83

4464.00

5380.75

6152.43

8,852.56

8,074.08

13,676.49

16445.57

18430.91

FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25
8 | Annual Report 2024-25
 Corporate Overview | Statutory Reports | Financial Statements

Capital adequacy ratio (%) Return on Equity (%)

25.38

29.27

23.36

20.81

20.51

15.69

8.95

7.84

9.20

11.62
FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25

Gross NPA (%) Net NPA (%)

1.95

2.16

1.75

2.39

2.29

1.31

1.17

0.93

1.23

0.95

FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25

Customer base (Nos.)

40,763

40,247

54,980

66,139

65,049

FY21 FY22 FY23 FY24 FY25

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Yogakshemam Loans Limited

From the Desk of the CEO

Securing Growth,
Empowering Aspirations

Dear Friends,
I hope this message finds you all well,
This is the 11th Annual Report since I assumed the office of
Managing Director and CEO of this magnificent institution. I
am grateful to one and all for the support I have received in
good measure since my joining.

10 | Annual Report 2024-25

 Corporate Overview | Statutory Reports | Financial Statements

` 102.81 Mn
It is common for us to believe that the Nonetheless, we will continue
rough road is over and that we are exploring opportunities in the co-
just a few yards away from a smooth lending space. Recently, RBI has
one, but rough roads are part of the Net Profit issued a draft circular on co-lending
journey—and we learn the art of which once made operational may

` 6,000+ Mn
riding through them. Our story is no permit co-lending relationships
different. This organisation carries between NBFCs opening a new vista
a rich legacy of over three decades. for companies like us to partner with
Seasoned through many odds and AUM bigger NBFCs.
having crossed many milestones,
together we continue to conquer... critical evaluation, I must admit that The regulatory environment for gold
we were unable to fully capitalise on loans is also conducive to growth.
Detailed financial statements the opportunities available, primarily We are permitted to lend up to
and analysis are included in this because we had already fully 85 percent of the gold price in the
report to help readers gain a better leveraged our capital. case of small-ticket loans, with the
understanding of the Company’s necessary checks and balances as per
performance. I am delighted to share As a financial institution, maintaining the extant regulations. This means
that we have reported an all-time healthy asset quality is crucial for we can lend more against the same
high profit of ₹102.81 million. It sustainable profitability. Our overall inventory of gold.
translates to a return of 11.62 percent credit cost remains well within less
on average equity. The return should than one percent. Our provision Exciting digital initiatives
further improve to match up with the coverage ratio also improved Our test run for seamless loan
industry standard. Our objective is to compared to the previous year. processing, documentation, and
produce such returns by the end of Non-Performing Assets (NPAs) during electronic signature has been
current year. the reporting period were identified successful. We are in the process of
based on 120-day overdue criteria. implementing this across all products.
Key performance indicators In FY26, this will transition to a The disbursement of gold loans in
In terms of AUM growth, we 90-day criterion, which may lead to digital format will make the entire
registered an increase of about 14 increased provisions and credit costs, process virtually paperless. I am
percent—moderate compared to the even as we intensify our efforts to confident this will enhance customer
previous year’s 21 percent. Last year, improve collections. experience significantly. We will
we crossed the sentimental milestone likely be pioneers in the complete
of ₹5,000 million in AUM, and during As you are aware, the primary digitisation of gold loan disbursement
the reporting period, we surpassed contributors to credit cost are the among our peers.
₹6,000 million. Loan growth during non-gold loan portfolios. Our focus
the year was driven primarily by gold will remain on enhancing collection I also wish to acknowledge the hard
loans, supported by favourable price efficiency and further strengthening work and dedication of our employees
movements. For other products, our credit appraisal processes at all levels for their commitment,
we adopted a cautious approach to to align with the evolving credit even during challenging times.
improve asset quality. landscape.
Every shareholder deserves to be
In last year’s message, I spoke about Way forward recognised and thanked for their
our co-lending partnership with We see promising opportunities for continued support, confidence in the
IndusInd Bank aimed at leveraging growth. As of now, we do not plan to management team, and enduring
our branches to enhance productivity open new branches during FY25–26. patronage.
and profitability. I am pleased to We expect the growth required
report that the partnership has to be generated from our existing I wish you all the very best.
helped grow the loan book. The total branches, which will lead to better With warm regards,
AUM as of 31st March 2025 stands productivity and higher returns on
at ₹6,157 million. Our topline (total investment. Given our current capital I. Unnikrishnan
revenue) rose to ₹1,304.29 million— structure, we may face limitations Managing Director & CEO
an increase of about 12 percent from in tapping the full potential of the
the previous year. However, upon evolving opportunities as we remain Thrissur
fully leveraged. 16th June 2025

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Yogakshemam Loans Limited

Digital Initiatives

Driving digitisation
at the core

In a world where speed and simplicity define customer

experience, we chose to reinvent the very foundation of lending—
documentation and onboarding. What began as a bold step
toward paperless execution soon evolved into a sweeping digital
transformation. By embedding technology into core workflows,
we eliminated friction, elevated compliance, and empowered
every stakeholder—from frontline teams to end users. This
section traces how Digital Document Execution (DDE) and eKYC
are shaping a smarter, faster, and fully digital lending ecosystem.

12 | Annual Report 2024-25

 Corporate Overview | Statutory Reports | Financial Statements

DDE Unleashed
We took our first leap with Digital system stability, user acceptance, our branches and loan products
Document Execution (DDE). In and compliance controls. Buoyed will operate under a fully digital
rapid succession, our business by these successes, we deployed documentation regime—
loans and consumer durable loans DDE in the two‑wheeler loan eliminating printing delays,
migrated to end‑to‑end electronic segment, capturing real‑time error‑prone manual entries, and
workflows. A rigorous pilot in feedback to fine‑tune interfaces storage overheads.
the Gold Loan vertical validated and approval paths. Soon all

eKYC Horizon
Having mastered document signed. Over the upcoming into our digital fabric, we will
digitisation, we set our sights on quarter, biometric and OTP‑based ensure regulatory adherence
onboarding excellence. The eKYC checks will replace paper forms, while minimising manual
project—designed to automate accelerating customer acceptance intervention and turnaround
identity verification—has its and reinforcing anti‑fraud times.
vendor secured and contract measures. By embedding eKYC

A digital‑first future
Together, DDE and eKYC represent onboarding and document our commitment to innovation—
more than incremental upgrades; signing. We will realise significant streamlining operations, elevating
they herald a cultural shift toward cost savings on printing, storage, service delivery, and charting a
a digital‑first ethos. Customers and compliance audits. As these new course for stakeholder value
will enjoy faster, more accurate initiatives mature, we reaffirm in the digital age.

| 13
Yogakshemam Loans Limited

Corporate Social Responsibility

Serving Communities,
Strengthening Commitments

At Yogakshemam, we have always believed that our purpose

extends far beyond financial services. While we remain
committed to delivering timely and accessible credit,
especially to those traditionally excluded from formal finance,
we are equally mindful of our broader role in society. Our
responsibility as a corporate citizen is grounded in the belief
that we must create value not just for our customers, but for
the communities around us.

Our corporate social responsibility

efforts are aligned with both national Our CSR Initiatives, FY 2024-25
development goals and regional
needs, allowing us to contribute
meaningfully to areas such as
education, healthcare, environmental
• Promoted health care, including
sustainability, and livelihood support.
preventive health care.
These initiatives reflect our deep-
rooted intent to serve those who may
not directly engage with our business • Set up homes and hostels for
but deserve every opportunity to
thrive.
women and orphans.
We see ourselves as more than
a financial institution. We are a • Promoted education, including
community-oriented organisation that
channels capital into potential, hope
special education.
into action, and intent into impact.
Guided by empathy, compliance, and
purpose, we will continue to expand • Provided financial support for training in
our circle of care, working not just for
profits, but for people and progress.
rural and nationally recognised sports.

14 | Annual Report 2024-25

Corporate Overview | Statutory Reports | Financial Statements

Provided financial assistance

AMHA (Association for Mentally
Handicapped Adults) for
construction of sensory theme
park aquatic facility and classroom
training at Kariatukkara, Thrissur.

Financial Help for Higher Education

of girls lacking parental Support at
ATMA Foundation.

Financial Support for Construction

of display cupboards to INSIGHT
Special School & Vocational
training centre,Guruvayoor.

Completion of Building
Construction work at
Sevasadanam.

| 15
Yogakshemam Loans Limited

Board of Directors

Guiding with
vision and integrity

Educational qualification
Our Board of Directors A
B.Com, FCA and SAP Consultant
stands at the helm of our N
governance framework, S Date of joining our Board
8th November 2014
steering the Company R
with foresight, fairness, C
and responsibility. As the Mr. Ramachandran Ottappath
highest decision-making Chairman of the Board (Non-executive Director)
body, the Board provides A businessman based in Botswana, hailing originally from Thrissur, Kerala.
strategic direction and
Key areas of expertise
oversight, while upholding Finance and operations | Manufacturing, packing, milling
the highest standards of and medical distribution
ethics, transparency, and
accountability. A Educational qualification
N B.Com and FCA
The Board’s primary mandate is to
ensure long-term value creation S Date of joining our Board
for all stakeholders. In doing so, it R 8th November 2014
acts as both a guiding force and a C
vigilant guardian of the Company’s
mission, ensuring that all business Mr. Unnikrishnan I
practices align with regulatory Managing Director and CEO
expectations, ethical norms, and A highly experienced Chartered Accountant with over 33 years of expertise in
sound governance principles. the NBFC and Financial Services industry. He was appointed as the Managing
Director and CEO of our Company on 6th December 2014.
Comprising a diverse and
accomplished group of Key areas of expertise
professionals drawn from varied Adviser in managing NBFCs
fields of expertise, our Board brings
a wealth of experience, insight,
and perspective to the table. Their A Educational qualification
collective leadership has been N B.Com, FCA and DISA (ICAI)
pivotal in driving our sustained S Date of joining our Board
growth and resilience in a dynamic R 8th November 2014
financial landscape. To learn more
C Date of retirement from our Board
about the individual members of 30th August 2024
our Board, please visit our website: Mr. Anoop Ganapathy
www.yogloans.com. Independent Director
A practicing Chartered Accountant with a wealth of 22 years’ experience in
both banking and non-banking finance companies
Key areas of expertise
Audit | Finance and Accounts | Taxation

16 | Annual Report 2024-25

 Corporate Overview | Statutory Reports | Financial Statements

A Educational qualification A Educational qualification

N MBA in Finance and PhD in N BA in Economics, MBA from
Management Stern School of Business,
S S
New York University
R Date of joining our Board R
C
8th November 2014 C
Date of joining our Board
Date of retirement from our Board 24th October 2017
30th August 2024 Mr. Santosh Kurup
Dr. Pushpangadan Mangari Independent Director
Independent Director
With three decades of expertise in banking, asset
A seasoned management and financial consultant with management, and non-banking finance, he possesses a
over 32 years of experience at the board level. wealth of knowledge in corporate development and the
Key areas of expertise financial sector. His extensive experience has enabled him
Management | Finance | Capital and Money Markets to hold various roles both in India and abroad.
Key areas of expertise
Economics | Banking, Asset Management and NBFCs |
A Educational qualification Capital and Money markets
N B.Com and DCA
S Date of joining our Board A Educational qualification
R 13th October 2011 Master of Arts (History)
N
C S Date of joining our Board
Mr. Vijayan N.D R 6th September 2019
Non-Executive Director C
An ex-banker with over 31 years of experience across Mr. Unnirajan P.N. IPS (Rtd.)
various roles. Non-Executive Director
Key areas of expertise A retired IPS officer who has served in various esteemed
Banking and NBFC Management | Information Technology and responsible positions.
Key areas of expertise
Public Administration | Law and Order |
A Educational qualification Security and Surveillance | Soft skill training
N B.Com and FCA
S Date of joining our Board A Educational qualification
30th August 2024 N B.Com and FCA
R
C S Date of joining our Board
R 30th August 2024
Mrs. Silpa Ramdas
C
Independent Director
A practicing Chartered Accountant with a wealth of 22 Mr. Mohandas Anchery
years’ experience in audit functions of Nationalised and Independent Director
Private banks, NBFCs, Chit and Kuri companies A highly experienced Chartered Accountant with more
Key areas of expertise than 39 years of expertise in the field of accounting,
Audit | Taxation | Finance finance, management, taxation and NBFC regulations.
Key areas of expertise
Accounting | Finance | Management | Taxation
Chairman Member

A Audit Committee N Nomination Committee S Stakeholder Relationship Committee

R Risk Management Committee C CSR Committee

| 17
Yogakshemam Loans Limited

Leadership Team

Leadership that
powers progress

CS Rajesh Kumar K Pillai performance-linked rewards,

At the core of Yogakshemam EVP & Company Secretary we aim to build a motivated and
Loans Limited’s sustained future-ready workforce.
progress is a leadership Educational Qualification:
B.com and FCS
team defined by deep Equally, we place great importance
industry insight, strategic Association with our company: on our relationships with investors,
foresight, and unwavering 2015 shareholders, and stakeholders.
These engagements are vital to
commitment. Spearheaded Key functional area
our journey, helping us maintain
by Mr. I. Unnikrishnan, our • Compliance, Risk and Legal
transparency, build trust, and
Managing Director and CEO, • Human Resource
create long-term value through
• Administration
this team brings together • Liability products
shared goals and mutual respect.
seasoned professionals • Stakeholder relations
CA Prasad P
whose diverse expertise Our organisation is built on a Vice President -
drives operational excellence foundation of ethical governance, Chief Financial Officer
and long-term value creation. robust risk management, and
Educational Qualification:
regulatory compliance. As a financial
B.com and FCA
Far beyond managing daily operations, institution operating in an evolving
our leadership plays an instrumental regulatory environment, we remain Association with our company:
role in charting the company’s future. agile and responsive to change. We 2015
They steer strategic initiatives with have embedded strong internal
Key functional area
clarity and agility, ensuring we remain control mechanisms tailored to
• Finance
competitive in a fast-evolving financial the scale and complexity of our
• Banking
ecosystem. Their ability to anticipate operations, ensuring that risks are
• Taxation
market shifts and align organisational proactively identified, assessed, and
• Accounts
capabilities accordingly has been vital mitigated. Our governance practices
are not static—they continuously We remain steadfast in our
in propelling us into the next phase of
evolve to meet emerging challenges commitment to leveraging
growth.
and uphold the highest standards of advanced digital platforms and
Moreover, this leadership group accountability. driving automation across our
fosters a strong culture of mentorship operations. These efforts are aimed
and performance across the We firmly believe that our people are at enhancing customer experience,
organisation. By nurturing talent, the driving force behind our success. strengthening internal controls, and
empowering line managers, and As we continue to grow, we are upholding the highest standards
encouraging innovation at all levels, expanding and enriching our talent of transparency and integrity. Our
they help embed a mindset of base by fostering a work environment stakeholders including bankers,
continuous learning and improvement. that encourages innovation, lenders, and customers, are
Their collective strength in both vision collaboration, and continuous central to our journey, and we
and execution, continues to shape our learning. By embracing modern are dedicated to adopting best-
journey as a resilient, responsible, and technology, offering structured in-class financial practices and
forward-looking financial institution. development opportunities, and reporting standards to protect their
balancing fixed compensation with interests and ensure full regulatory
compliance.
18 | Annual Report 2024-25
 Corporate Overview | Statutory Reports | Financial Statements

Through a deep understanding of

our business priorities and long-term
strategic direction, we design and
implement targeted initiatives that
align seamlessly with our growth
objectives. This integrated approach
CS Rajesh Kumar K Pillai CA Prasad P CA Sreenivas K.K not only supports effective decision-
making but also ensures that every
action contributes meaningfully to the
achievement of our broader business
goals.

Rakesh K Venugopal
Assistant Vice President –
Shaju K Balan Rakesh K Venugopal Business Head – Two-Wheeler Loans
Educational Qualification:
In parallel, we place strong emphasis To safeguard the quality and B.A Economics
on maintaining robust financial stability of our portfolio, we have
Association with our company:
health. We ensure comfortable implemented a centralised, specialist
2018
structural liquidity and sound financial credit function that is well-aligned
ratios through disciplined planning with the scale and complexity of our Key functional area
and prudent capital management. Our operations. This dedicated structure • Marketing and Business
spending is closely aligned with our ensures that we have the right Development
annual operating plan, enabling us to expertise, systems, and governance
• Credit and Asset quality
manage resources efficiently while in place to evaluate credit risk,
sustaining long-term growth and maintain asset quality, and respond • Team management
stability. swiftly to emerging challenges. Our
Kerala presents a strong growth
approach combines rigorous credit
opportunity in the two-wheeler
CA Sreenivas K.K assessment with sound portfolio
finance segment, and we are well-
Vice President - monitoring, reinforcing the financial
positioned to capitalise on this
Credit and Branch Operations resilience of our institution.
potential. Backed by robust credit
Educational Qualification: policies and sound underwriting
Shaju K Balan
B.com, FCA, DISA and CAIIB practices, we have adopted advanced
Assistant Vice President -
technology to streamline operations
Association with our company: Business Development
and stay competitive with leading
2016
Educational Qualification: players in the market.
Key functional area B.Sc , MBA
• Portfolio Quality Our success in this segment is
Association with our company:
also driven by a high-performing
• Credit Administration 2019
sales and collections team whose
• Product Policies Key functional area dedication and professionalism
• Business Development ensure both portfolio quality and
• Documentation and Audit Quality
customer satisfaction. Their efforts
• Marketing
The loan portfolio is the cornerstone continue to play a critical role in
of any lending institution’s revenue, • Team Management expanding our two-wheeler loan
but it also represents one of the most book while maintaining healthy asset
In the realm of strategic sales
critical areas of risk. Historically, a performance and timely recoveries.
planning, we play a pivotal role
significant proportion of financial
in driving business growth with
losses and institutional failures in the
an unwavering focus on quality
lending sector can be traced back to
and performance. By leveraging
weak credit standards, poor portfolio
demographic insights and marketing
oversight, or adverse economic
analytics, we identify emerging
conditions. Recognising this, we place
trends and customer behaviours
strong emphasis on the prudent and
that help us fine-tune our outreach
proactive management of our loan
and maximise the impact of our
book.
marketing initiatives.
| 19
Yogakshemam Loans Limited

Directors’ Report

To increasing gold price. The gold price has increased

Members of Yogakshemam Loans Limited substantially during the last two years. In the present
Dear Members, scenario of uncertainties in the global trade and
bilateral relations, it is believed that the gold price
Your Board is happy to present the 34th Annual Report of may continue to maintain the present rally giving
the Company with the audited financial statements for the further optimism in demand for gold loans in the near
Year ended March 31, 2025 (“Year”). future. The total gold loan portfolio is `4850.56 as
on 31.03.2025 including the managed loan book of
1. FINANCIAL HIGH LIGHTS
` 990 million. In case of non-gold portfolio, we have
S ummary of financial performance for the year ended
adopted a calibrated approach during the year with
31st March 2025 is given below,
a view to improving collection efficiency as a caution
(` in Million) against the trend of stress in unsecured loans in the
31.03.2025 31.03.2024 industry including microfinance. The vehicle loan
Loan book ; portfolio witnessed a minor de growth and stands
Own Book 5163.42 4965.97 at `837.10 million constituting 13.60 percent of the
997.73 413.27 total portfolio and the MSME book is at `365 million.
Managed Book
We have restricted disbursement of Micro Loans
Total 6161.15 5379.24
as a result the portfolio has come down to `75.95
Total Income 1304.29 1163.50 million from `208.98 million of the previous year. We
Total operating 582.09 536.50 have also expanded our foot prints in the Consumer
Expenditure Durable loans (CD loan)
Finance cost 568 518.04 On the asset quality side, the overall net credit cost is
Profit/(loss )before 154.20 119.07 at 1.50 percent for the year under report, an increase
depreciation of 30 basis points from the previous year. However,
Depreciation 24 25.57 the Gross Non-Performing Asset (GNPA) is in control
Profit/ (Loss) before Tax 130.20 93.55 with 2.28 percent of the own book and Net Non-
Performing Asset (NNPA) 0.95percent. The provision
Tax Expenses 27.55 18.30
coverage has been maintained at 58 percent for the
Net profit/ (Loss) after 102.81 75.25 year against 48.69 percent of the previous year. We
tax have followed 120 days overdue norms for recognition
of NPA during the year and that would be reduced to
2. STATE OF AFFAIRS OF THE COMPANY
90 days by 31st March 2026.
Growth and Profitability
Over the last two financial years, the Company has 3. PROSPECTS
been able to register robust growth in terms of Business
loan portfolio. Total loan portfolio could register a The business environment in the country remains
growth of about 14.53 percent during the year under optimistic and growth oriented. Of course, one has
report over the corresponding previous year. As we to be watchful of the global developments that may
could see, the main growth driver was gold loan and have cascading effects on the domestic economy too
the contribution from the managed book under Co- and in turn the business trajectory of the Company
Lending arrangement with Indusind Bank during the too. Gold price has kept on moving in the upward
year was significant. The net profit for the year is direction for the last two years and there is nothing
`102.81 million. For the first time the profit number in front of us to suggest a movement in the opposite
has touched double digit and marking a growth of direction and therefore we also focus on growing our
about 36.60 percent over the previous year figure gold loan portfolio. Reserve Bank of India ( RBI) has
of `75.25 million. When we look at the revenue for been easing its policy rates right from the beginning
the year, it grew by 12 percent to `1304.29 million. of the year and surprisingly reduced the repo rate by
Loan Performance and Asset quality 50 basis points in its last policy statement put out on
In line with our core philosophy of “ grow on the 6th June 2025. This may bring down the finance cost.
strength of Gold”, we continued our focus on growing The real GDP growth of the Country, as per the latest
the gold loan book. The dominance of the gold report, for the year 2024-25 is estimated at 6.5percent
loan portfolio continues with around 80 percent of and the projection for FY 26 is also at the same level,
the total loan book ( Including the managed loan an indication that India will continue its growth
book). In addition to the growing demand for gold trajectory intact and the tariff related uncertainties
loan it is also benefitting from the tailwind of the may not impact the economic expansion. RBI has

20 | Annual Report 2024-25

 Corporate Overview | Statutory Reports | Financial Statements

also issued a new circular on lending against gold the year and the balance is retained in the Reserves
jewellery on 6th June’25 which is largely welcomed and surplus account.
by the industry and it is also supportive of growth of
gold loans, of course, with healthy monitoring and 5. CAPITAL
documentation aspects to mitigate risk. During the year under review the Company has not
raised any capital.
At the Company level, we consider FY’26 to be more
of an year of consolidation. The loan book growth 6. EMPLOYEE STOCK OPTION SCHEME
will continue to come from Gold Loan and it would The Company has framed an Employee Stock Option
be a mix of own book and managed book expecting Scheme aimed at attracting and retaining leadership
more contribution from Co- Lending activities. This talent in the Company . The shareholders approved
will improve our ROA and ROE as further growth is the scheme at the 24th AGM held on 18th August 2015.
expected from the existing branches. A significant The Scheme enables the Company to grant 11, 00,000
expansion in the own book will be depended on Options for eligible employees to apply for 11, 00,000
our ability to raise equity capital. We are exploring equity shares of the Company. As of 31st March 2025
opportunities to raise equity from institutions. under this Scheme, 44000 options granted to eligible
employees in leadership positions are outstanding.
Branch network
As on 31 st March 2025 , we have 169 branches with a 7. CAPITAL ADEQUACY
spread of 73 Branches in Kerala, 24 branches in Tamil The Capital Adequacy ratio of the Company is
Nadu 54 branches in Karnataka and 18 branches in comfortable. As at 31st March 2025, our CRAR is 20.40
Andhra Pradesh. The productivity per branch is an per cent as against the mandated requirement of 12
important yardstick in opening more branches in a percent as per the provisions of “Master Direction-
particular area. As of the above date, the productivity Reserve Bank of India(NonBanking Financial
per branch in terms of loan outstanding is `36.45 Company-Scale Based Regulation) Directions,2023”
million as against `29.34 million of the previous
year. We have added 11 branches during the year. 8. ANNUAL RETURN
We expect the productivity of these branches to The extract of Annual Return in the Form MGT-7 as
considerably improve in FY26 while we grow the loan required under section 92(3) and section 134(3) of
book of these branches during FY 25-26. the Act is hosted on the website of the Company,
www.yogloans.com
Resource mobilization
Our resource base continues to be diversified with 9. LOANS AND ADVANCES
cash credit, working capital demand loans term The Company has not given any loans or advances
loans and long term borrowings by way of private other than those in the ordinary course of its business
placement of debt instruments in the retail. Our as an NBFC. Particulars of transactions in which
institutional funding sources are Scheduled Bank, directors are interested are given in note No.23 of
Private Banks, Small Finance Banks and NBFCs. We the financial statements.
have raised about `1985. million from institutions
during the year under report and another `305.4 10. RELATED PARTY TRANSACTIONS
million through the retail franchise. As in the All transactions or arrangements with related parties
expected lines, the average cost of borrowings for referred to in Section 188 (1) of the Act, entered
the year was at 11.65 per cent as against 11.32. per into during the year were on arm’s length basis or
cent of the previous year. We expect a cooling of were in the ordinary course of business. Wherever
interest rates in view of the reduction of policy rates required, the Company has obtained the approval
by RBI. In addition to the conventional credit lines, of the shareholders. The particulars of contracts
we shall explore the possibilities of broad basing the or arrangements with related parties as referred in
partnership with banks and other institutions under section 188(1) of the Act are attached to this Report
Co-lending arrangement. in prescribed Form AOC - 2 as Annexure 2.

4. DIVIDEND AND RESERVES 11. HUMAN RESOURCE

Your Board has maintained the dividend pay-out The total head counts of the Company as on the
at the same level as in the earlier years to balance balance sheet date is 1029. Company is taking
between preservation of capital and rewarding consistent efforts in improving the skill sets of its
shareholders. The Board has recommended a employees at all levels by imparting training on a
dividend to the shareholders for the year 2024-25 continuous basis
at the rate of 40 paise per share (4percent on the  one of the employees is in receipt of remuneration
N
paid up value per share) and it will be paid to the attracting the disclosure under Rule – 5 (2) of the
shareholders on its declaration by the shareholders Companies (Appointment and Remuneration of
in the ensuing Annual General Meeting (AGM). An Managerial Personnel) Rules, 2014 and hence no
amount of `20. million is transferred to the Statutory report is attached.
Reserve under the RBI directives out of the profit for
| 21
Yogakshemam Loans Limited

12. NUMBER OF MEETINGS OF THE BOARD

T he Board has met 5 times during the year. A summary of the Meetings and attendance of Board, the Audit
Committee, Stakeholders Relationship Committee, Risk Management Committee, Corporate Social Responsibility
Committee and the Nomination, Compensation and Corporate Governance committee is given below.
Attendance
Corporate
Stakeholders Social Risk
Audit Nomination Relationship Responsibility Management
Directors Board Committee Committee Committee Meeting Committee
Total Meetings during the year 5 4 3 4 2 1
Mr. Unnikrishnan I 5 N.A N.A N.A 2 1
Mr. Vijayan N D 5 N.A N.A 4 N.A N.A
Mr. Anoop G (Retd on 2 2 2 2 N.A 0
30.08.2024)
Dr. M Pushpangadan (Retd on 2 2 2 0 0 0
30.08.2024)
Mr. Ramachandran.O 5 4 3 N.A 2 N.A
Mr. Santosh Kurup 5 3 3 N.A N.A 1
Mr. P N Unnirajan 5 N.A N.A N.A 2 N.A
Mr. Mohandas Anchery 3 2 1 2 2 1
Mrs. Silpa Ramdas 3 2 NA 2 NA 1

13. RESERVE BANK OF INDIA (“RBI”) GUIDELINES 3. Mr.I Unnikrishnan, MD & CEO has been re-
T he Company continues to comply with all applicable appointed in the post in the Board Meeting held
regulations of RBI. on 25th Marh 2025 effective from 6th December
2024 upon expiration of his original term in
14. CORPORATESOCIAL RESPONSIBILITY (“CSR”) office and the same shall be put up to the general
 s per the provisions of Section 135 of the
A meeting for its approval.
Companies Act 2013 read with the Companies (Social
Responsibility Policy) Rules,2014, the Company 4. Evaluation of performance of Directors;
had an obligation to spend `1.7.million towards its The nomination committee has been carrying
Corporate Social Responsibility (CSR) for the year out the annual performance evaluation of the
ended 31 st March 2025. The Company has spent Board and its Committees, Key managerial
the whole amount of `1.7 million in accordance personnel and senior management team. The
with its CSR policy The details of the CSR projects evaluation for the year 2024-25 has been done
and programs undertaken by the company during at its meeting held on 16th June 2025.
the reporting period is attached to this report in the 16. DECLARATION OF DIRECTORS INDEPENDENCE.
format given in Annexure II of the Companies (CSR Based on the declarations received from the
Policy) Rules, 2014. independent directors, we state that the independent
15. DIRECTORS. directors of the Company continue to be independent
1. Mr P.N Unnirajan Non- Executive Director, whose directors and there are no circumstances suggesting
office is liable to determination by rotation within the loss of their independence with reference to the
the meaning of section 152 of the Companies Company.
Act, 2013, retires at the 34th AGM and he is 17. DIRECTORS’ RESPONSIBILITY STATEMENT
eligible for re-appointment, offers himself for Pursuant to Sections 134 (3) (c) and 134 (5) of the Act
re-appointment. with respect to Directors’ responsibility statement,
2. Indpendent directors Mr. Anoop Ganapathy the Directors of the Company hereby confirm, in the
and Mr. Pushpangadan M have exited from the preparation of annual accounts for the year that:
Board upon the expiration of their term in office i. the applicable accounting standards have
at the last AGM held on 30 th August 2024 and been followed and proper explanations have
the resultant vacancies have been filled by the been made in notes to accounts for material
appointment of Mr. Mohandas Anchery and departures, if any;
Ms. Silpa Ramdas.

22 | Annual Report 2024-25

 Corporate Overview | Statutory Reports | Financial Statements

ii. the accounting policies have been selected and Mr.Santosh Kurup - Chairman
applied consistently and reasonable and prudent Mr.Mohandas.Anchery - Member
judgments and estimates have been made so
Mr.Ramachandran Ottappath - Member
as to give a true and fair view of the state of
affairs of the Company as at March 31, 2025 and iii) Stakeholders Relationship Committee
statement of the profit and loss of the Company As per Section 178(5) of Companies Act 2013
for the Year ended on that date; the Company has constituted Stakeholders
Relationship Committee, consisting of the
iii. proper and sufficient care has been taken for the
following members;
maintenance of adequate accounting records in
accordance with the provisions of the Act for Mr. Vijayan.N.D - Chairman
safeguarding the assets of the Company and Mr.Mohandas Anchery - Member
for preventing and detecting fraud and other Ms.Silpa Ramdas - Member
irregularities; iv) Corporate Social Responsibility Committee
iv. the annual accounts have been prepared on a As per section 135 (3) of the Companies Act,2013
going concern basis. read with the Companies (Social Responsibility
Policy ) Rules,2014, the Company has framed
v. internal financial controls to be followed were
the Corporate Social Responsibility Policy, 2020
laid down, which were adequate and were
( hereafter referred to as CSR Policy) The Board
operating effectively during the Year.
has also constituted a CSR committee consisting
vi. proper systems had been devised to ensure of the following members ;
compliance with provisions of applicable laws, Mr.Unnikrishnan I - Chairman
which were adequate and were operating
Mr.Ramachandran.O - Member
effectively during the Year.
Mr.Mohandas Anchery - Member
18. CONSERVATION OF ENERGY, TECHNOLOGY Mr.Unniajan P.N - Member
ABSORPTION, FOREIGN EXCHANGE EARNING
AND OUTGO v) Risk Management Committee
The Company is carrying on business of lending. As In line with the directions of RBI on Liquidity
an NBFC, the conservation of energy and technology Risk Management Framework, the Board has
absorption have limited applications only. To the constituted Risk Management Committee to
extent possible at our end, the Company is using supervise the risk management framework of the
energy efficient equipment and electronic items Company including the functions of ALCO. The
which will reduce the consumption of energy. There committee consists of the following members;
was no earning or out go in foreign exchange during Mr.SantoshKurup - Chairman
the year. Mr.Unnikrishnan.I - Member
19. COMMITTEES Mr.Mohandas Anchery - Member
i) Audit Committee Ms.Silpa Ramdas - Member
In line with the provisions of section 177 of
the Companies Act,2013and of the Guidelines 20. POLICIES
issued by RBI the Board had constituted an Audit • Vigil Mechanism / Whistle Blower Policy -The
committee consisting the following members; Company, as part of the ‘vigil mechanism’ has
in place a ‘Whistle Blower Policy’ to deal with
Mr. Mohandas Anchery - Chairman
instances of fraud and mismanagement, if any.
Ms.Silpa Ramdas - Member The Whistle Blower Policy has been approved by
Mr.Ramachandran Ottappath - Member the Board and has been placed on the website
Mr. Santosh Kurup - Member of the Company. This vigil mechanism of the
Company is overseen by the Audit Committee
During the year under review there were no
and provides adequate safeguard against
situations where the Board had not accepted
victimization of employees and directors who
recommendation of the Audit Committee
avail of the vigil mechanism and also provide
ii) Nomination, Remuneration and corporate direct access to the Chairperson of the Audit
governance Committee Committee in exceptional circumstances.
As per the provisions of section 178 of the
• Policy on Directors Appointment-
Companies Act,2013 and the Guidelines issued
In respect of independent directors, the
by RBI, Board has constituted Nomination
nomination committee of the Board shall
Committee. The composition of the committee
evaluate the independence of directors based
is as follows;
on the criteria set out under section 149(6) of the

| 23
Yogakshemam Loans Limited

Companies Act,2013, and the rules made there • Auction Policy

under. The underlying principles of the Company The Auction and Recovery policy puts forth
are that the independent directors shall not guiding principles and procedural aspects in
have any pecuniary relationships beyond the pursuing collection and recovery process of the
permissible limits with the Company and that Company including recovery through auctions
they are not connected with the promoters or of collaterals encompassing regulations in this
KMPs of the Company. The policy is available in respect.
the web portal of the Company; www.yogloans.
• Dividend Policy
com
Board approved dividend policy acts as the
• Risk Management guiding principles in distribution of divisible
The Company is regularly evaluating the profit and the utilisation of profit, transfer to
elements of risks in the various operational reserves etc.
aspects of the Company and will be reviewed
• ALM Policy
periodically including presentations to the Audit
As a measure of managing the risk related to
Committee. The Company has also constituted a
Asset Liability mismatch, the Company has put
Risk Management Committee of the Board which
in place a policy for continuous monitoring of
oversees the risk management practices. Based
the risk related to interest rate sensitivity and
on such reviews and assessments, remedial
liquidity management so that the Company will
measures are being taken. The Company has put
be able to detect possible mis-matches at an
in place an Enterprise Risk Management Policy
early stage and to take counter measures.
and ALM and Liquidity Risk management Policy
also. • Outsourcing Policy
The Policy will help in identifying the activities
• Policy on Fair Practice Code and Customer
that can be outsourced and that cannot
Grievance Redressal- The Company has put
be outsourced. The policy will also act as a
in place a policy on Fair Practice Code and
guideline in monitoring and reviewing the risk
Customer Grievance Redressal and the policy
management practices of the third party service
is dealing with the fair practices which the
providers with reference to the activities of the
Company wishes to adopt in the conduct of its
Company.
business and the matters relating to dealing with
the redressal of customer grievances. • CSR Policy- (Corporate Social Responsibility)
The Board has put up a policy on Corporate
• Investment Policy -The Company has framed
Social Responsibility (CSR) for the Company.
an Investment Policy to serve as the guiding
The policy is framed as required under Section
principle in matters relating to investments by
135 of the Companies Act 2013 and Schedule VII
the Company either for parking surplus liquidity
read with the Companies (Social Responsibility
temporarily or making strategic investments in
Policy) Rules,2014, with an objective to structure
other business opportunities.
its responsibilities to the society and to act as
• Interest Rate policy –The interest rate policy guiding principles in its endeavour to support on
acts as the guiding principles for determination projects and programs of social relevance. The
of interest and other charges to be levied by it policy shall also meet the statutory/regulatory
while transacting its business. expectations from time to time.
• Policy on Resource mobilization – The company • Co-Lending Policy
has put up a policy on Resource mobilization, In line with the guidelines issued by Reserve Bank
which shall serve as the guiding principles in of India through its circular No.FIDD.Co.Plan.
matters relating to mobilisation of resources for BC.No.8/04.09.01 - 2020-21dated 5 th November
the Company to meet its long term and short 2020, Company has framed a Co-Lending Policy
term objectives and also to fund for its fixed and to enable the company to explore the evolving
working capital requirements. opportunities to partner with reputed banks
and to expand its loan offering in a co-lending
• Loan Policy
business model. This will help the Company to
The Loan Policy lays down the various parameters
optimise its resources for generating loans and
within which the management shall devise the
growing revenue without expanding the capital
lending practices of the company including
base that may be required for such business
the acceptable risk tolerances and thus ensure
growth otherwise.
the evolution of a sustainable business model
resulting in both long term profitability and
value creation for its stake holders.

24 | Annual Report 2024-25

 Corporate Overview | Statutory Reports | Financial Statements

• Policy on Compromise Settlement and Technical 24. SIGNIFICANT AND MATERIAL ORDERS PASSED
Write offs. BY REGULATORS OR COURT
Company has put in place a Board approved There are no material order passed by Regulators/
policy guidelines for Compromise settlement Courts, which would impact the going concern status
and technical write off of loan account as per of the Company and its future operations.
the circular of RBI dated 8th June 2023 No DOR.
STR.REC.20/21.04.048/2023-24. ACKNOWLEDGEMENT
The Board expresses its sincere appreciation and gratitude
21. DEPOSITS for the guidance and co-operation extended to the
The Company being a non- deposit taking Company Company by RBI and other regulators. We put on record
has not accepted any public deposit during the year our sincere appreciation and gratitude towards, Banks,
and no amount is outstanding as unpaid/unclaimed NBFCs and the subscribers of other debt instruments
deposit. for their faith reposed in the Company and extending
credit facilities/ co-lending facilities, without which the
22. AUDITORS growth and development of the Company would not
The Company had appointed M/s ASA & Associates have been possible. The Board thanks the auditors of the
LLP, Chartered Accountants Chennai as the Statutory Company for their guidance. Special thanks are due to the
Auditors of the Company for the period of three employees of the Company who contributed their skills,
financial year from the conclusion of the 33rd AGM to enthusiasm, commitment and dedication which have over
the conclusion of 36th AGM. the years helped the Company to earn prominence. The
23. SECRETARIAL AUDIT REPORT. Board is grateful to the shareholders, for their continuing
Pursuant to the provisions of section 204 of the patronage.
Companies Act ,2013 read with Rule 9 of the
Companies (Appointment and Remuneration of By order of Board of Directors
Managerial personnel)Rule,2014 the Board has
appointed Mehta &Mehta, Door No: 1509(1), George For Yogakshemam Loans Limited,
& Xaviers’ Square, St. Benedict Cross Road, Ernakulam
North, Kochi - 682018 as the Secretarial Auditor of the Sd/- Sd/-
Company and their report is annexed to this report.
In their report it is observed that in two occasions 1.RAMACHANDRAN 2. I. UNNIKRISHNAN
there were delays in publication of public notices of OTTAPPATH
General meetings in newspapers by a few days than ( Chairman) (Managing Director and CEO)
that is specified under the Secretarial Standard. The (DIN No:03430618) (DIN No:01773417)
observation has been noted for future Compliance.
However, it is hereby clarified that adequate notices Botswana Thrissur
have been given to the shareholders pursuant to 16th June 2025 16th June 2025
the provisions of the Companies Act,2013 and the
rules framed thereunder in time and the notices are
despatched through Company’s RTA.

| 25
Yogakshemam Loans Limited

Management Discussion and Analysis Report

A. GLOBAL ECONOMY 2
Global growth prospects
The Global trade and economy have changed a lot
2024 2025 2026
between this report and the last report. In the last
Economies (estimate) (forecast) (forecast)
report our attempt was largely to look through the
World 2.8% 2.3% 2.4%
policy stance of Central Banks and the easing of policy
tightening. As we stand today looking forward, one Advanced 1.7% 1.2% 1.4%
would be more anxious of the evolving scenarios in economies
the global trade and development emanating from Emerging 4.2 3.8 3.8
a rather inward looking policies and practices as &Developing
against global outreach and accommodative stance South Asia 6 5.8 6.1
expected of. Multilateral agencies, World Bank and India 6.5 6.3 6.5
IMF have revised the global economic outlook to
the lower side on account of the uncertainties on B. INDIAN ECONOMY
trade and tariff policies and heightened geopolitical Performance of our economy continues to be in
tensions. As per the forecast of the World Bank in the expected lines maintaining its position as the
its June 2025 Report, world economic expansion fastest growing economy globally. As per the recent
is projected at 2.3% for 2025 and 2.4% for 2026. A report of the Reserve Bank of India (RBI) Monitory
reduction of about 40 basis points from the January Policy Committee dated 6th June 2025, GDP growth
2025 forecast. The report states that 1Downside risks of the country for the year 2024-25 is placed at
to the outlook predominate, including an escalation 6.5% and the same growth rate is expected for the
of trade barriers, persistent policy uncertainty, rising year 2025-26 as well, as the economic activities
geopolitical tensions, and an increased incidence of during the first two months have shown continued
extreme climate events. Conversely, policy uncertainty resilience. The activities in the core sectors such
and trade tensions may ease if major economies as agriculture, industrial and service activities are
succeed in reaching lasting agreements that address gaining momentum supported by sufficient stock of
ongoing trade disputes. food and an expected normal monsoon ahead.
Commodity prices The overall bank credit has expanded by 11% in
Commodity prices show a softening trend on the FY’25 from that of the previous year. In absolute
back drop of weaker growth prospects due to the terms, during FY24-25 the bank credit expanded by
increasing uncertainties around trade and tariff ` 18.lacs Crores as against `27.5.lac Crores of FY23-
policies. Oil prices are likely to remain flat given the 24, evidencing growth at a slower pace compared
slowing demand levels comparing to the levels of to the previous year. Gross bank Credit is estimated
2015-19. However, any disturbance in supply chain at `182.4 lakhs Crores. The country continues to
on account of the recent tensions in West Asia could outperform its external trade record. As per the press
alter the trend in the short term. Precious metals, release of Ministry of Commerce & Industry on 16th
led by gold is bucking the trend and gaining newer April, 2025, India’s Merchandise and Service Export
heights in prices mainly on account of the safe heaven is estimated at USD 820.93billion during 2024-25
appeal. Gold price is expected to keep the increasing marking a growth of 5.5% over the previous year. The
trend. Annual average gold prices are expected to growth is supported by the participation of services
reach record high during 2025 before plateauing in while the merchandise export remained flat.
2026-27.
Outlook
Global Inflation. The economic outlook for the country in the near
Headline consumer price inflation continues to term looks stable and growth oriented. As explained
remain at elevated levels comparing to the pre- earlier, the kye elements of economic activity is
pandemic levels. This restricts the elasticity in the optimistic and growth supportive. Growth rate for
hands of the central banks to ease the policy rates FY 25-26 is projected conservatively at the same level
in advanced economies. A further softening of the of FY 24-25 percentage. The push from the Central
inflation remain uncertain as the impact of higher Government side on infrastructure, product linked
tariff rates in imported goods, intermediaries and incentives, leadership in digital consolidation and
input materials used in manufacturing could propel electronic manufacturing, chip development, India
price rice. According to the World Bank Report, centric AI modelling etc could give direction to the
average global inflation could be around 2.9 percent economy. Significant development in the digital space
in 2025 and 2026 and may fall to 2.5 percent by 2027. is imperative to face the growing global challenges.
1, 2
Global economic prospects, World Bank Group June 2025

26 | Annual Report 2024-25

 Corporate Overview | Statutory Reports | Financial Statements

Stable policy regime can attract private investment of March 2024. Furthermore, they facilitate financial
and employment generation, key to economic growth inclusion by providing credit to unbanked sections
and prosperity. The Banking sector is well capitalised, of the population and therefore the relevance and
improved asset quality with NPAs at historic lower importance of NBFCs in the financial service remain
levels has been giving good head room for lending. RBI very strong in a country of more than 1.4 billion
has started to ease the policy rates from February 2025 people mostly inhabiting in villages.
on the back drop of inflation moving to comfortable
NBFCs are grouped in three categories NBFCs Upper
levels. Cumulatively, the repo rate is reduced by 100
Layer with 15 companies, Middle Layer 493 and 8912
basis points by June 2025. It is also worth noting that
in the Base Layer. The total credit deployment of
RBI will bring down the Cash Reserve Ratio (CRR) by
NBFCs (loans and advances) as of 31 st March 2024
one percentage over a period beginning September
was 4 `40.27 lacs Crores, an expansion of 18.5%
2025. The cumulative effect of all these would be a
over the March 2023 figures. NBFCs in the upper
cooling of interest rates and improved liquidity in the
layer contributes 25.2percent of the total loans
banking sector to boost the credit expansion that
and advances, those in the middle layer contributes
can accelerate growth. Another positive outlook is
68.8%, while the base layer companies, though it is
the level of inflation; it is projected at 3.7% for the
the larger block, contributes only 6% of the total
financial year 2025-26. However, our economy is also
exposure.
facing headwinds of uncertainties from trade and
tariff policies and widening geopolitical tensions. NBFCs complement banks in the credit intermediation
Even though the provisional data on foreign trade process by offering diversified, tailor-made financial
for the last two months are encouraging, the products through innovative service delivery
continuance of the trade performance depends mechanisms. Harmonisation of regulations on
on the unwinding of policy regimes in our partner different operational aspects has helped the credit
countries as any shift in policy directions will have flow from banking sector to the NBFCs which is a
its cascading effect. Our country’s attempt to get core and non-dispensable partner in last mile credit
in to free and fair trade agreements with large delivery.
and developed economies would have significant
NBFCs have enough head room for lending with a
influence on our existing trade partnerships. Since
healthy capital adequacy ratio of 26 .9 percent.
the US continues to be a significant trade partner
Collection and recovery is also remaining robust
with around 18% share of our merchandise exports,
and the asset quality is comfortable with Net Non
the tariff regime post July’9, 2025 needs to be
performing Asset of 1.1 percent in March 2024. The
closely watched. Of late, there is apprehension in
main determinants of growth are the flow of credit
the automobile manufacturing sector on supply of
from the banking and other conventional sectors to
of magnetic materials, key component in the auto
NBFCs and demand for loans. Given the additional
industry. Even amidst these challenges, our economy
liquidity in the anvil on account of the RBI policies,
could do better than its peers.
the supply side remains strong. On the demand
C. INDIAN NON-BANKING FINANCIAL COMPANY side, growth of MSME sector, signs of improving
(NBFC) SECTOR consumption demand across rural and urban sectors
The Non-Banking Financial sector is group of augur well for the industry.
heterogeneous institutions. They have their The main growth drivers for NBFC loan portfolios are
specialisation catering to different set of financial • Latent credit demand
requirements. NBFCs providing loans and advances
• Increased consumption
and investments as their core specialisation are
known as Investments and Credit Companies (ICC) • Distribution reach and sectors where traditional
and they constitute the largest block. banks do not lend.
• G overnment initiatives for manufacturing in
Role of NBFCs in the last mile credit delivery and India.
innovative credit products with their ability to
adapt to changing demands and adoption of latest • Control on asset quality
technologies have brought in recognition to this • Lower operating costs
sector from regulators, investors and the society • Faster adoption of technology
over the past. The relevance of the sector is evident
from NBFCs Credit to GDP ratio; it remains strong at D. SEGMENT WISE OR PRODUCT –WISE
13.6percent in 2024 too as of the previous year. They PERFORMANCE
are predominantly operating in the retail segment The below table gives a summary of our loan
with 31percent of their total credit to this segment as portfolios. We have been able to keep a steady
performance over the years in terms of Asset Under
3
Report of Care Ratings, May 8 2025 | 4Trend and progress in Banking -RBI-December 2024

| 27
Yogakshemam Loans Limited

Management ( AUM), revenue and profitability. We have been maintaining a diversified loan portfolio consisting gold
loan, vehicle loan, MSME loan and personal loan like micro finance and consumer durable finance. In percentage
terms, the loan book grew by 14% from the previous year. Even though the gold loan market was growth supportive
on the back of the increasing gold price, our performance did not reflect the full potential because of our capital
constraints and higher leverage. Last year we have opened 11 branches only while shifted/ merged certain other
branches as part of our branch optimisation and productivity improvement strategy. The below table also narrate
the overall focus that prevailed during the year under review. The AUM expansion has contributed by gold loan
while other loan portfolios have degrown with an objective of a consolidation and improvement of asset quality.
31st March 2025 31st March 2024 Share to total loan book
(` in Million) (` in Million) (%) 31st March 2025
Gold Loan;
Own Book 3859.80 3466.65
Managed Book 990.00 413.27
Total 4850.80 3879.92 78.90
Vehicle Loans 837.10 867.01 13.60
MSME Loans 365.20 423.31 5.93
Micro Loans 73.60 208.75 1.20
Consumer Durables Loan 23.60 0.37
Total 6157.03 5378.99 100

Gold Loan are no developments in the vicinity to trigger a major

We continue to be a specialised gold loan company price correction in price.
with 80 percent of its AUM in gold backed assets. Outlook for gold loan:-
Substantial growth in the gold loan book has come
Our outlook for gold loan remains bullish. We have
from the Co-Lending partnership with the Indusind
seen good momentum in disbursements during
Bank. This partnership has helped the Company
the first two months of the current financial year.
to optimize its return without additional capital
As explained earlier, all levers of economic activity
deployment.
remains intact and are growth focused. Glod loan
Demand for gold loan:- Gold loan demand remains demand is supported by, income generating activities
strong across the branches both in urban and rural like agriculture, MSMEs, and other self-employment
markets particularly in the backdrop of the higher activities and loans availed for various consumption
gold price which helps the borrowers to avail higher purposes like, education, medical emergencies, house
loan amount on the same jewellery. Our focus will be construction and the like. As the economic activities
on the allocation of more resources to gold loan and are improving, strong consumption trend across
more productivity from existing branches. urban and rural areas are all positive for gold loan
Direction of Gold price segment. The trend of demand so far in the current
A prediction on the gold price movement is very financial year is also promising. Monetisation of the
difficult given the geopolitical developments and trade significant private wealth of gold holdings in our
and tariff related uncertainties. We have been seeing country offers ample head room for sustained loan
a surge in gold price for the last two years claiming demands and supported by the continuing import
new heights month on month. Between April 2024 and of around 700 tonnes of gold every year into this
March 2025, the gold price increased by about 27% in country.
US Dollar terms. The upward momentum continues Two-Wheeler loans
even now and is climbing further heights. The gold During the period under report, we have disbursed
price is backed by strong underlying demands. Most around 4666 loans with a year-end outstanding of
of the Central Banks increases their physical gold `837 million marking a marginal dip comparing to the
reserves over the last two years an accumulated previous year. We are targeting a better asset quality
above 1000 tonnes annually in place of 300-400 in the current year that will improve our return ratios.
tones earlier. Physical Gold backed Exchange Traded
MSME & other loans.
Funds (ETFs) also maintain its growth momentum
Substantial portion of our MSME & other loans is
though cyclical profit booking happens occasionally.
ultra-short terms with a tenure of 12 months. These
All these factors indicate that gold price is likely to
loans are high yielding and offer better asset quality
sustain the present rally in the short term and there
too. In addition to the returns, these products also

28 | Annual Report 2024-25

 Corporate Overview | Statutory Reports | Financial Statements

give the opportunity to cross selling, brand building product segments because of the experience gained
and better neighbourhood experiences. Our initial and the growing number of satisfied customers
foray into the Consumer Durable Finance (CD associated with the company. Sourcing partnerships
loans) has helped us to get the market feel and to and the capacity to leverage on technologies through
build internal capabilities in credit assessment and mobile applications and web solutions will be an
streamline our end-to-end digital loan processing added advantage to be closer to the customers and to
initiatives. The trial run will also help scalability in penetrate its market more effectively. There is huge
line with proper capitalisation and expansion of point potential for Gold Loan Companies to grow in a post
of contacts in future. Covid scenario.
G. OUTLOOK Threats
The outlook for the Company remains optimistic and Any changes in the regulatory environment could
stable with a clear focus on capitalising the emerging affect the performance of the Company. The entry
opportunity in gold loan. Our overall approach for of Small Finance Banks, expanding presence of
the current year would be the improvement of large players and the entry of regional players in
asset quality and better return ratios. Even though the gold loan market further leads to higher level
competition is strong, our company has its own of competition. Volatility in the gold prices in the
presence in the market and product and product that international and domestic markets will have an
help us to retain our existing customer base and to impact on the gold loan growth as well as collections.
attract new customers. Our digital initiatives in loan Un expected policy changes of Governments/
processing, documentation and speedy disbursement regulators, adverse political developments either at
etc. will result in new customer experiences. The regional or national levels may also pose threats to
recent regulatory direction on disbursement of the growth and development plans of the company.
gold loan will enable the company to lend at Loan External developments in the sector can impact the
to Value Ratio (LTV) up to 85% of the gold price to outlook on the company in terms of its ability to raise
certain customers and the directions will further adequate resources as well.
strengthen gold loan institutions while ensuring that I. RISK MANAGEMENT
customer rights are also well protected. However, our The Company’s business model has comprehensive
ability to capitalise the full potential of the evolving and integrated risk management framework that
opportunity depends on our ability to attract capital comprises of a clear understanding of strategy, policy
in time and expansion of our points of contact in the initiatives, prudential norms, proactive mitigation and
potential markets. structured reporting. Company is keeping constant
H. SCOT ANALYSIS vigil in identifying and mitigating risk whether it is
Strengths arising from internal factors or external. We have
• Building on relationship also put in place a Board approved Enterprise
Risk Management Policy (ERM) and formed a Risk
• Established leadership
Management Committee at the Board level to
• Diversified product offering oversee the ERM functions.
• Robust in-house capabilities supported with Credit Risk Management:
strong technology back up. The Company possesses a well defined loan policy
• Expanding branch network and customer base and other operating instructions regarding each
• Expanding resource base. product to manage risks associated with underwriting
•  Focused brand building and business and customer defaults. Customer selection is of
development initiatives. paramount importance, and in this the Company’s
Business Development and Credit teams have
Challenges the necessary expertise to ensure asset quality.
Given the scale of operations, profitability and credit Underwriting decisions are based on knowledge
rating, the Company may, in the short run face about the prospective customer’s business, credit
challenges in raising of resources from conventional history available with credit information companies
sources at attractive rates. The macro-economic as well as assessment of his cash flows and ensuring
situation has to further improve for the business adequacy of collateral or guarantees in applicable
sentiments at the grass route level for growth to cases. The underwriting also ensures a well calibrated
accelerate at the Company level. Growing competition approach in fixing loan to value ratio for all secured
from larger market peers armed with mass media lending. Similarly, the Company has strong internal
advertisements raises further challenges. guidance on unsecured lending based on past
Opportunities experiences. It has a robust collection mechanism
The Company can expand its geographical reach enabled by digital payment solutions to support easy
by opening more number of branches in growing loan servicing and collections.
markets. It is also in a position to consider deepening

| 29
Yogakshemam Loans Limited

J. INTERNAL CONTROL SYSTEMS AND THEIR looking statements based on various assumptions
ADEQUACY on the Company’s present and future business
The Company possesses adequate internal controls strategies and the environment in which it operates.
to ensure that all assets are protected against Actual results may differ substantially or materially
loss from unauthorized use or disposition and from those expressed or implied due to risk and
that all transactions are authorized, recorded and uncertainties. These risks and uncertainties include
reported correctly. An efficient Internal Audit the effect of economic and political conditions in
department monitors adherence to these controls. India and abroad, volatility in interest rates and in the
Statutory auditors also present their suggestions securities market, new regulations and Government
to the appropriate committees of directors for policies that may impact the Company’s businesses
improvements in control and compliance. as well as the ability to implement its strategies.
The information contained herein is as of the date
K. HUMAN RESOURCES
referenced and the Company does not undertake any
The Company considers its workforce to be its
obligation to update these statements. The Company
greatest asset. The employee compensation structure
has obtained all market data and other information
consists of fixed salaries, variable components and
from sources believed to be reliable or its internal
stock options at appropriate levels. The Company has
estimates, although its accuracy or completeness
been investing in long-term development programs
cannot be guaranteed.
for its employees. During the year under review,
the Company has conducted programs aimed at By order of Board of Directors
upgrading the work-specific skills of its workforce,
it consists of on the job training and class room For Yogakshemam Loans Limited,
coaching depending on the levels at which they join
the company. Additional programs were undertaken Sd/- Sd/-
towards motivational and behavioural training.
The company has been adopting a compassionate RAMACHANDRAN I. UNNIKRISHNAN
approach to protect the wellbeing of the employees OTTAPPATH
by providing flexibility in working time, facility to ( Chairman) (Managing Director and CEO)
work from home etc. in deserving cases. (DIN No:03430618) (DIN No:01773417)
L. CAUTIONARY STATEMENT Botswana Thrissur
Statements made in this Management Discussion 16th June 2025 16th June 2025
and Analysis Report may contain certain forward-

30 | Annual Report 2024-25

 Corporate Overview | Statutory Reports | Financial Statements

ANNEXURE II
Format for the annual report on CSR Activities to be included in the Board’s Report pursuant Rule 8(1) of the Companies
(Corporate Social Responsibility Policy)Rules 2014,read with Section 135 of the Companies Act,2013.

1. Brief outline on CSR Policy of the Company : To structure its responsibilities to society and to act as the guiding
principle in its endeavour to support on projects and programs of
social relevance as provided in the schedule to the policy.
2. Composition of CSR Committee :
Number of meetings Number of meetings of
Sl. of CSR Committee CSR Committee attended
No. Name of Director Designation / Nature of Directorship held during the year during the year
1 Mr. Unnikrishan I Chairman (CSR) (MD & CEO) 2 2
2 Mr. Pushpagandan. M Member (Independent Director) 2 2
3 Mr. Unnirajan P.N Member (Non Executive Director) 2 2
4 Mr. Ramachandran Member (Non Executive Chairman of 2 2
Ottappath Board)

3.) P
 rovide the web-link where Composition of : www.yogloans.com
CSR committee, CSR Policy and CSR projects
approved by the board are disclosed on the
website of the company.
4.) P
 rovide the details of impact assessment : NA
Of CSR projects carried out in Companies
(Corporate Social responsibility pursuance
of Sub-rule (3) of rule 8 of the Policy) Rules,
2014, if applicable (attach the report).
5) D
 etails of the amount available for set off : NIL
in pursuance of Sub-rule (3) of rule 7 of the
Companies (Corporate Social Responsibility
Policy) Rules, 2014 and amount required for
Set off for the financial year, if any

Sl. Amount available for set-off from Amount required to be set-off for the financial year,
No. Financial Year preceding financial years (in `) if any (in `)
1 NIL NIL NIL

6) A
 verage net profit of the company as per : `8,50,12,678
section 135(5)
7) (a) T wo percent of average net profit Of the : `17,00,254
company as per section 135(5)
(b) Surplus arising out of the CSR projects or : Nil
Programmes or activities of the previous
financial years.
(c) A
 mount required to be set off for the : NIL
financial year (if any)
(d) Total CSR obligation for the financial year : `17,00,254/-
(7a+7b-7c).

| 31
Yogakshemam Loans Limited

8. (a) CSR amount spent or unspent for the financial year :

Amount Unspent (in `)
Total Amount transferred to Unspent CSR Amount transferred to any fund specified under
Account as per section 135(6). Schedule VII as per second provison to section 135(5).
Total amount spent for
the financial year(2023- Amount. Date of Name of Amount. Date of transfer.
2024) .(in `) transfer. the Fund
17,00,254 NIL NIL NIL NIL NIL

(b) Details of CSR amount spent on-going projects for the financial year:

1 (2) (3) (4) (5) (6) (7) (8) (9) (10) (11)
Location of the Mode of
project Amount Implementation
transferred to - Through
Item from Amount Amount Unspent CSR Implementing
the list of Local allocated spent in Account for Mode of Agency
activities in area for the the current the project as Implementa- CSR
SI Name of schedule VII (Yes/ Project project (in financial per Section tion - Direct registration
No Project to the Act. No). State District duration. `). Year (in `). 135(6) (in `). (Yes/No). Name Number
1 Promoting Item no 1(ii) yes Kerala Thrissur Nil Nil 4,75,270 Nil Direct NA
Health Care
including
preventive
health care.
2 Setting up Item no 2 yes Kerala Thrissur Nil Nil 6,00,000 Nil Direct NA
homes and
hostels for
women’s and
orphans.
3 Promoting Item no 3 yes Kerala Thrissur Nil Nil 6,00,000 Nil Direct NA
education
including
special
education.
4 Financial Item no 4 yes Kerala Thrissur Nil Nil 25,000 Nil Direct NA
support for
training rural
sports and
nationally
recognised
sports.

(c) Details of CSR amount spent against other than on-going projects for the financial year:
1 2 3 4 5 6 7 8
Item from Amount Mode of implementation
the list of Location of the spent - Through implementing
activities in project. for the Mode of agency.
SI. schedule VII Local area project implementation -
No Name of Project to the Act. (Yes/ No). State District (in `). Direct (Yes/No). Name CSR Registration
1 Nil Nil Nil Nil Nil Nil Nil Nil Nil

d) Amount spent in Administrative Overheads : Nil

e) A
 mount spent on Impact Assessment, if : Nil
applicable
(f) T otal amount spent for the Financial Year : ` 17,00,270
(8b+8c+8d+8e)

32 | Annual Report 2024-25

 Corporate Overview | Statutory Reports | Financial Statements

(g) Excess amount for set off, if any.

SI.
No Particular Amount (in `)
(i) Two percent of average net profit of the company as per section 135(5) 17,00,254
(ii)Total amount spent for the Financial Year 17,00,254
(iii)
Excess amount spent for the financial year [(ii)-(i)] Nil
(iv)Surplus arising out of the CSR projects or programmes or activities of the previous financial NIL
years, if any
(v) Amount available for set off in succeeding financial years [(iii)-(iv)] NIL

9. (a) Details of Unspent CSR amount for the preceding three financial years:
Amount Amount transferred to any fund specified Amount
transferred to under Schedule VII as per section 135(6), if any. remaining to
Unspent CSR Amount spent be spent in
Account under in the reporting succeeding
SI Preceeding Financial section 135 (6) Financial Year Name of the Date of financial
No Year (in ` (in `) fund Amount(`) Transfer years. (in `)
(1) Nil Nil Nil Nil Nil Nil Nil

(b) Details of CSR amount spent in the financial year for on-going projects of the preceding financial year(s):
(1) (2) (3) (4) (5) (6) (7) (8) (9
Cumulative
Total Amount spent amount spent
Financial Year amount on the project at the end Status of
in which the allocated for in the reporting of reporting the project -
Sl. Name of the project was Project the project Financial Year Financial Year. Completed /
No. Project ID. Project. commenced. duration. (in `) (in `) (in `) Ongoing
(1) Nil Nil Nil Nil Nil Nil Nil Nil

10. In case of creation or acquisition of capital asset, Furnish the details relating to the asset : Nil
so created or Acquired through CSR spent in the financial year (asset-wise details).
(a) Date of creation or acquisition of the capital asset(s). : Nil
(b) Amount of CSR spent for creation or acquisition of capital asset. : Nil
(c) D
 etails of the entity or public authority or beneficiary Under whose name such : Nil
capital asset is registered, their address etc.
(d) Provide details of the capital asset(s) created or acquired (Including complete address : Nil
and location of the capital asset).

11. Specify the reason(s), if the company has failed to spend two percent of the average net profit as per section 135(5).

Sd/-

I Unnikrishnan
(Managing Director and CEO)
(Chairman of CSR Committee)

Thrissur
16th June 2025

| 33
Yogakshemam Loans Limited

Form No. AOC-2

(Pursuant to clause (h) of sub-section (3)of section 134 of the Act and Rule 8(2)
of the Companies (Accounts) Rules, 2014)

Form for disclosure of particulars of contracts/arrangements entered into by the company with related parties referred
to in sub-section (1) of section 188 of the Companies Act, 2013 including certain arm’s length transactions under third
proviso thereto

1. Details of contracts or arrangements or transactions not at arm’s length basis:

(a) Name(s) of the related party and nature of relationship : NIL
(b) Nature of contracts/arrangements/transactions : NIL
(c) Duration of the contracts / arrangements/transactions : NIL
(d) Salient terms of the contracts or arrangements or transactions including the value, if any : NIL
(e) Justification for entering into such contracts or arrangements or transactions : NIL
(f) Date(s) of approval by the Board : NIL
(g) Amount paid as advances, if any : NIL
(h) Date on which the special resolution was passed in general meeting as required under first : NIL
proviso to section 188

2. Details of material contracts or arrangement or transactions at arm’s length basis:

Salient terms of Date(s) of

Nature of Duration of the the contracts or approval by the Amount
Name(s) of the related contracts/ contracts/ arrangements or Board/Board Paid as
party and nature of arrangements/ arrangements/ transactions including the Committee, if advance,
relationship transactions transactions value, if any any if any
Mr.Ramachandran 1. Dividend paid For the Financial Dividend paid `49.29 22.06.2024 Nil
Ottappath (Chairman) Year 2023-24 lakhs

Mr. I Unnikrishnan 1. R
 emuneration Till the tenure of Remuneration paid 18.10.2019 Nil
(Managing Director paid directorship `93.05 lakhs
& CEO) 2. Dividend paid For the Financial Dividend paid `40.54 22.06.2024 Nil
Year 2023-24 lakhs

Mr. N.D Vijayan 1. S itting fees Till the tenure of Sitting fees paid for 09.08.2021 Nil
(Non-Executive paid directorship Board and Committee
Director) Meetings `3.84 lakhs
2. Dividend paid For the Financial Dividend paid `0.60 22.06.2024 Nil
Year 2023-24 lakhs

Mr. P N Unnirajan Sitting fees paid Till the tenure of Sitting fees paid for 09.08.2021 Nil
(Non-Executive directorship Board and Committee
Director) Meetings `3.60 lakhs
Dr. M.Pushpangadan 1. S itting fees Till the tenure of Sitting fee and travelling 09.08.2021 Nil
(Independent paid directorship allowance paid for
Director) (Retired on Board and Committee
30.08.2024) Meetings `1.56 lakhs
2. Dividend paid For the Financial Dividend paid `0.40 22.06.2024 Nil
Year 2023-24 lakhs
Mr. Anoop.G. 1. Sitting fees Till the tenure of Sitting fee paid for 09.08.2021 Nil
(Independent paid directorship Board and Committee
Director) (Retired on Meetings `1.56 lakhs
31.08.2024 22.06.2024 Nil
2. Dividend paid For the Financial Dividend paid `1.00 lakh
Year 2023-24

34 | Annual Report 2024-25

 Corporate Overview | Statutory Reports | Financial Statements

Salient terms of Date(s) of

Nature of Duration of the the contracts or approval by the Amount
Name(s) of the related contracts/ contracts/ arrangements or Board/Board Paid as
party and nature of arrangements/ arrangements/ transactions including the Committee, if advance,
relationship transactions transactions value, if any any if any
Mr.Santosh Kurup 1. S itting fees Till the tenure of Sitting fee and travelling 09.08.2021 Nil
(Independent paid directorship allowance paid for
Director) Board and Committee
Meetings `2.79 lakhs
2. Dividend paid For the Financial Dividend paid `0.49 22.06.2024 Nil
Year 2023-24 lakhs
Mr. Mohandas Sitting fees paid Till the tenure of Sitting fee paid for 22.06.2024 Nil
Ancheri directorship Board and Committee
(Independent Meetings `2.21 lakhs
Director)
(Since 30.08.2024)
Mrs. Silpa Ramdas Sitting fees paid Till the tenure of Sitting fee paid for 22.06.2024 Nil
(Independent directorship Board and Committee
Director) Meetings `1.73 lakhs
(Since 30.08.2024)
Mr.Rajeshkumar.K. 1. R
 emuneration Till the tenure of Remuneration paid 25-03-2015 Nil
Pillai paid employment. `40.73 lakhs
(EVP&Company
2. Dividend paid For the Financial Dividend paid `0.23 22.06.2024 Nil
Secretary)
Year 2023-24 lakhs
Mr.Prasad.P 1. R
 emuneration Till the tenure of Remuneration paid 25-03-2015 Nil
(VP & Chief Financial paid employment `29.13 lakhs.
Officer)
2. Dividend paid For the Financial Dividend paid `0.04 22.06.2024 Nil
Year 2023-234 lakhs
Mrs.Jalajakumari Dividend paid For the Financial Dividend paid 22.06.2024 Nil
Ramachandran Year 2023-24 `49.31lakhs
(Spouse of Chairman
Mr.Ramachandran
Ottappath)
Mrs.Sathialakashmi 1. Interest Paid Till maturity Interest paid on As per terms Nil
Unnikrishnan debenture/sub- of issue
(Spouse of Managing ordinated debt `12.62
Director Mr.I 2. Redemption of Nil
Redemption of As per terms
Unnikrishnan) Debentures debentures of `5.00 of issue
lakhs
3. Dividend paid For the Financial Dividend paid `23.33 22.06.2024 Nil
Year 2023-24 lakhs
4. I ssue of Issue of debentures 25.03.2024 Nil
debentures `25.00 lakhs
Mrs.Rema Vijayan 1. Interest paid Till maturity Interest paid on As per terms Nil
(Spouse of Director debenture/subordinated of issue
Mr.N.D Vijayan) debt `2.30 lakhs.
2. Dividend paid For the Financial Dividend paid `0.02 22.06.2024 Nil
Year 2023-24 lakhs

| 35
Yogakshemam Loans Limited

Salient terms of Date(s) of

Nature of Duration of the the contracts or approval by the Amount
Name(s) of the related contracts/ contracts/ arrangements or Board/Board Paid as
party and nature of arrangements/ arrangements/ transactions including the Committee, if advance,
relationship transactions transactions value, if any any if any
Mrs.Geetha 1. Issue of Issue of debentures 25.03.2024 Nil
Pushpangadan debenture `25.00 lakhs
(Spouse of
2. Interest Paid Till maturity Interest paid on As per terms Nil
Independent Director
debenture `12.23 lakhs of issue
Mr.Pushpngadan)
3. Redemption of Redemption of As per terms Nil
debentures debentures of `25 .00 of issue
lakhs.
Mrs. Sreeja. K 1. Interest Paid Till maturity Interest paid on As per terms Nil
(Spouse Of debenture `0.95 lakhs of issue
Independent Director
Mr.Anoop G)
Mrs. Smitha Rajesh 1. Interest Paid Till maturity Interest paid on sub As per terms Nil
(Spouse of EVP & ordinated debt ` 1.16 of issue
Company Secretary lakhs
Mr.Rajeshkumar K
Pillai)
Ms.Vasundhara Interest paid Till maturity Interest paid on As per terms Nil
Rajesh debenture/sub of issue
(Daughter of EVP & ordinated debt `0.33
Company Secretary lakhs
Mr.Rajeshkumar K
Pillai)
Mrs.Archana G 1. Interest Paid Till maturity Interest paid on sub- As per terms Nil
(Spouse of VP & CFO ordinated debt `0.08 of issue
Mr.Prasad P) lakhs
Ms.Aishwarya Interest paid Till maturity Interest paid on As per terms Nil
Unnikrishnan debenture/sub of issue
(D/o of M.D & CEO ordinated debt `10.20
Mr. I. Unnikrishnan) lakhs Nil
Mr.Abhijith 1. Interest paid Till maturity Interest paid on As per terms Nil
Unnikrishnan debenture/sub of issue
(S/o M.D & CEO ordinated debt `2.67
Mr. I. Unnikrishnan) lakhs
Nil
2. Dividend paid For the Financial Dividend paid `3.67 22.06.2024
Year 2023-24 lakhs

36 | Annual Report 2024-25

 Corporate Overview | Statutory Reports | Financial Statements

Salient terms of Date(s) of

Nature of Duration of the the contracts or approval by the Amount
Name(s) of the related contracts/ contracts/ arrangements or Board/Board Paid as
party and nature of arrangements/ arrangements/ transactions including the Committee, if advance,
relationship transactions transactions value, if any any if any
Mr.Sureshkumar I Salary Paid For the period Salary paid `4.58 lakhs 16.07.2018 Nil
(Brother of M.D & April 2024 to
CEO March 2025
Mr. I. Unnikrishnan)
Ottappath projects Leasing of For a period of 9 Monthly rent of `3.06 29.01.2018 Nil
& developers Pvt Premises Rent years lakhs was fixed for
(Company in which was fixed on the measuring about 7325
Mr.Ramchandran basis of prevailing square feet with an
Ottappath is market rate increment of 15%
interested) every three years.
Annual rent paid
amounts to `41.57 lakhs
(including GST.)

By order of Board of Directors

For Yogakshemam Loans Limited,

Sd/- Sd/-

Mr. Ramachandran Ottappath Mr. I.Unnikrishnan

(Chariman ) (Managing Director & CEO)

Botswana Thrissur
16th June 2025 16th June 2025

| 37
Yogakshemam Loans Limited

Form No. MR-3

SECRETARIAL AUDIT REPORT
FOR THE FINANCIAL YEAR ENDED 31st March 2025
[Pursuant to section 204(1) of the Companies Act, 2013 and rule No.9 of the Companies (Appointment and
Remuneration Personnel) Rules, 2014
To,
The Members,
M/s. Yogakshemam Loans Limited
28/315 – D2. Ottappath Tower,
Aswini Junction, Thiruvambady Post,
Thrissur, Kerala - 680022.
We have conducted the secretarial audit of the compliance c) Non - Banking Financial Companies-
of applicable statutory provisions and the adherence to Corporate Governance (Reserve Bank)
good corporate practices by M/s. Yogakshemam Loans Directions, 2015;
Limited (hereinafter referred to as ‘The Company’).
d) Online Returns to be submitted by NBFC’s –
Secretarial Audit was conducted in a manner that provided
RBI Guidelines.
us a reasonable basis for evaluating the corporate
conducts/statutory compliances and expressing our 2. We have also examined compliance with the
opinion thereon. applicable clauses of the following:
Based on our verification of the books, papers, minutes (i) Secretarial Standards issued by The Institute of
books, forms and returns filed and other records Company Secretaries of India.
maintained by the Company and also the information
Pursuant to Secretarial Standard on general meetings
provided by the Company, its officers, agents and
(SS-2), Clause 8.5.1 - In cases where e-voting
authorized representatives during the audit period
facilities are provided, a public notice containing the
covering the financial year ended on 31st March 2025,
prescribed details must be published immediately
the Company has complied with the statutory provisions
after dispatching notices for the meeting, and at least
listed hereunder and also that the company has proper
twenty-one days prior to the date of the General
board processes and compliance-mechanism in place to
Meeting.
the extent, in the manner and subject to the reporting
made hereinafter: The company has published in the newspaper the
public notice for the Annual General Meeting (AGM)
1.  e have examined the books, papers, minute books,
W
held on August 30, 2024 on August 18, 2024 and
forms and returns filed and other records maintained
the Extraordinary General Meeting (EGM) held on
by M/s. Yogakshemam Loans Limited for the financial
March 20, 2025 on March 02, 2025. However, these
year ended on 31 st March 2025 according to the
publications fell short of the required twenty-one-
provisions of:
day notice period by 9 days for the AGM and 4 days
(i) The Companies Act, 2013 (the Act) and the rules for the EGM.
made thereunder;
3. We further report that the Company has, in my
(ii) The Securities Contracts (Regulation) Act, 1956 opinion, complied with the provisions of the
(‘SCRA’) and the rules made thereunder; Companies Act, 2013 and the rules made under that
(iii) The Depositories Act, 1996 and the Regulations Act and the Memorandum and Articles of Association
and Bye-laws framed thereunder; of the Company

(iv) Foreign Exchange Management Act, 1999 and 4. We further report that
the rules and regulations made thereunder to the (i) The Board of Directors of the Company is duly
extent of Foreign Direct Investment, Overseas constituted with proper balance of Executive
Direct Investment and External Commercial Directors, Non-Executive Directors and
Borrowings; Independent Directors.
(v) The following Laws, Regulations, Directions, (ii) The Directors have complied with the
orders applicable specifically to the company; requirements as to disclosure of interests
a) Reserve Bank of India Act, 1934; and concerns in contracts and arrangements,
shareholding/directorships in other companies
b) Master Direction - Non-Banking Financial and interest in other entities.
Company –Non-Systemically Important
Non- Deposit taking Company (Reserve
Bank) Directions, 2016
38 | Annual Report 2024-25
 Corporate Overview | Statutory Reports | Financial Statements

(iii) Adequate notice is given to all directors to December 06, 2024 at the board meeting held
schedule the Board Meetings, agenda and on March 25, 2025
detailed notes on agenda were sent at least
(ii) The Company has not transferred any amount
seven days in advance, and a system exists for
to the Investor Education and Protection
seeking and obtaining further information and
Fund, (IEPF) as there was no unclaimed/unpaid
clarifications on the agenda items before the
Dividend/application money due for refund,
meeting and for meaningful participation at the
matured deposits, matured debentures and the
meeting.
interest accrued thereon, which have remained
(iv) All resolutions are passed unanimously, while the unclaimed or unpaid for a period of seven years
interested directors abstain from participating in or more for transferring to Investor Education
such resolutions. and Protection Fund
(v) The company has obtained all necessary (iii) The Company has not Given any guarantee
approvals under the various provisions of the
act.
For Mehta & Mehta,
5. We further report that there are adequate systems Company Secretaries
and processes in the company commensurate with (ICSI Unique Code P1996MH007500)
the size and operations of the company to monitor
and ensure compliance with applicable laws, rules, Sd/-
regulations, and guidelines. Arun K Kamalolbhavan
6. We further report that during the audit period: Partner
FCS No. 9609
(i) The company has Issued Non-Convertible
CP NO. 11657
Debentures on Private Placement Basis
PR No. 3686/2023
(ii) The company has Declared Dividend Place: Ernakulam
7. We further report that during the audit period the Date: 16.06.2025
following major events are recorded by the company UDIN: F009609G000607338
(i) The tenure of the Managing Director and CEO Note: This report is to be read with our letter of even date
of the company has expired on December 05, which is annexed as “Annexure A” and it forms an integral
2024; however, he has been reappointed as the part of this report.
Managing Director and CEO with effect from

| 39
Yogakshemam Loans Limited

ANNEXURE A
To,
The Members,
M/s. Yogakshemam Loans Limited
28/315 – D2. Ottappath Tower,
Aswini Junction, Thiruvambady Post, Thrissur, Kerala - 680022.
Our report of even date is to be read with this letter: Audit Report in Form No. MR-3 the adherence
and compliance to the requirements of the said
1. Maintenance of secretarial record is the responsibility
regulations is the responsibility of management. Our
of the management of the Company. Our responsibility
examination was limited to checking the execution
is to express an opinion in these secretarial records
and timeliness of the filing of various forms, reports,
based on our audit.
returns and documents that need to be filed by the
2. We have followed the audit practices and processes Company with various authorities under the said
as were appropriate to obtain reasonable assurance regulations. We have not verified the correctness
about the correctness of the contents of the and coverage of the contents of such forms, reports,
secretarial records. The verification was done on returns and documents.
test basis to ensure that correct facts are reflected
7. The Secretarial audit report is neither an assurance
in secretarial records. We believe that the processes
as to the future viability of the Company nor of the
and practices we followed provide a reasonable basis
efficacy or effectiveness with which the management
for our opinion.
has conducted the affairs of the Company.
3. We have not verified the correctness and
appropriateness of financial records and Books of For Mehta & Mehta,
Accounts of the Company. Company Secretaries
(ICSI Unique Code P1996MH007500)
4. Wherever required, we have obtained the
Management representation about the compliance of
Sd/-
laws, rules and regulations and happening of events
Arun K Kamalolbhavan
etc.
Partner
5. The compliance of the provisions of corporate laws, FCS No. 9609
rules, regulations, standards is the responsibility of CP NO. 11657
management. Our examination was limited to the PR No. 3686/2023
verification of procedures on test basis. Place: Ernakulam
6. As regard the books, papers, forms, reports and Date: 16.06.2025
returns filed by the Company under the provisions UDIN: F009609G000607338
referred to in point vi & vii of our Secretarial

40 | Annual Report 2024-25

 Corporate Overview | Statutory Reports | Financial Statements

Independent Auditor’s Report

To the Members of Yogakshemam Loans Limited Our opinion on the financial statements, does not cover
the other information and we do not express any form of
Report on the Audit of the Financial Statements
assurance conclusion thereon.
Opinion In connection with our audit of the financial statements,
We have audited the accompanying financial statements our responsibility is to read the other information identified
of Yogakshemam Loans Limited (“the Company”), which above when it becomes available and, in doing so, consider
comprise the Balance Sheet as at March 31, 2025, the whether the other information is materially inconsistent
Statement of profit and loss, the statement of cash with the financial statements or our knowledge obtained
flows for the year then ended, and notes to the financial during the course of audit, or otherwise appears to be
statements, including a summary of significant accounting materially misstated.
policies and other explanatory information.
When we read the other information, if we conclude
In our opinion and to the best of our information and that there is a material misstatement therein, we are
according to the explanations given to us, the aforesaid required to communicate the matter to those charged
financial statements give the information required by with governance and take appropriate actions.
the Companies Act, 2013, as amended (the “Act”) in
the manner so required and give a true and fair view Responsibilities of Management and Board of
in conformity with the accounting principles generally Directors for the Financial Statements
accepted in India, of the state of affairs of the Company The Company’s Board of Directors is responsible for the
as at March 31, 2025, and its profit and its cash flows for matters stated in section 134(5) of the Act with respect
the year ended on that date. to the preparation of these financial statements that
give a true and fair view of the financial position, financial
Basis for Opinion performance, and cash flows of the Company in accordance
We conducted our audit in accordance with the Standards with the accounting principles generally accepted in
on Auditing (SAs) specified under section 143(10) of the India, including the accounting standards specified
Act. Our responsibilities under those Standards are further under section 133 of the Act read with the Companies
described in the Auditor’s Responsibilities for the Audit (Accounting Standards) Rules, 2021. This responsibility also
of the Financial Statements section of our report. We are includes maintenance of adequate accounting records in
independent of the Company in accordance with the Code accordance with the provisions of the Act for safeguarding
of Ethics issued by the Institute of Chartered Accountants of assets of the Company and for preventing and detecting
of India (ICAI) together with the ethical requirements frauds and other irregularities; selection and application
that are relevant to our audit of the financial statements of appropriate accounting policies; making judgments and
under the provisions of the Act and the Rules thereunder, estimates that are reasonable and prudent; and design,
and we have fulfilled our other ethical responsibilities in implementation and maintenance of adequate internal
accordance with these requirements and the ICAI’s Code financial controls, that were operating effectively for
of Ethics. We believe that the audit evidence we have ensuring the accuracy and completeness of the accounting
obtained is sufficient and appropriate to provide a basis records, relevant to the preparation and presentation of
for our opinion on the financial statements. the financial statements that give a true and fair view
and are free from material misstatement, whether due to
Other Matter
fraud or error.
The financial statements of the Company for the year
ended March 31, 2024, were audited by another auditor In preparing the financial statements, the management
who expressed an unmodified opinion on those statements and the Board of Directors are responsible for assessing
on June 22, 2024. the Company’s ability to continue as a going concern,
disclosing, as applicable, matters related to going concern
Other Information other than the Financial and using the going concern basis of accounting unless the
Statements and Auditor’s Report thereon Board of Directors either intends to liquidate the Company
The Company’s Board of Directors is responsible for the or to cease operations, or has no realistic alternative but
other information. The other information comprises the to do so.
information included in the Management Discussion and
Analysis, Director’s Report including Annexure(s) to Board’s The Board of Directors are also responsible for overseeing
Report, but does not include the financial statements and the company’s financial reporting process.
our auditor’s report thereon. These reports are expected Auditor’s Responsibilities for the Audit of the Financial
to be made available to us after the date of this auditor’s Statements
report.
Our objectives are to obtain reasonable assurance about
whether the financial statements as a whole are free from
| 41
Yogakshemam Loans Limited
CIN : U65992KL1991PLC005965

material misstatement, whether due to fraud or error, timing of the audit and significant audit findings, including
and to issue an auditor’s report that includes our opinion. any significant deficiencies in internal control that we
Reasonable assurance is a high level of assurance, but is identify during our audit.
not a guarantee that an audit conducted in accordance
We also provide those charged with governance with
with SAs will always detect a material misstatement when
a statement that we have complied with relevant
it exists. Misstatements can arise from fraud or error and
ethical requirements regarding independence, and to
are considered material if, individually or in the aggregate,
communicate with them all relationships and other
they could reasonably be expected to influence the
matters that may reasonably be thought to bear on our
economic decisions of users taken on the basis of these
independence, and where applicable, related safeguards.
financial statements.
Report on Other Legal and Regulatory Requirements
As part of an audit in accordance with SAs, we exercise
professional judgment and maintain professional 1. A s required by the Companies (Auditor’s Report)
skepticism throughout the audit. We also: Order, 2020 (“the Order”), issued by the Central
Government of India in terms of sub-section (11) of
• I dentify and assess the risks of material misstatement
section 143 of the Act, we give in the “Annexure A”,
of the financial statements, whether due to fraud
a statement on the matters specified in paragraphs 3
or error, design and perform audit procedures
and 4 of the Order, to the extent applicable.
responsive to those risks, and obtain audit evidence
that is sufficient and appropriate to provide a 2.  s required by Section 143(3) of the Act, we report
A
basis for our opinion. The risk of not detecting a that:
material misstatement resulting from fraud is higher
(a) W
 e have sought and obtained all the information
than for one resulting from error, as fraud may
and explanations which to the best of our
involve collusion, forgery, intentional omissions,
knowledge and belief were necessary for the
misrepresentations, or the override of internal
purposes of our audit;
control.
(b) I n our opinion, proper books of account as
•  btain an understanding of internal control relevant
O
required by law have been kept by the Company
to the audit in order to design audit procedures that
so far as it appears from our examination of
are appropriate in the circumstances. Under Section
those books except for the matters stated in
143(3)(i) of the Act, we are also responsible for
paragraph 2 (h)(vi) below on reporting under
expressing our opinion on whether the Company has
Rule 11(g) of the Companies (Audit and Auditors)
adequate internal financial controls with reference to
Rules, 2014 (as amended).
the financial statements in place and the operating
effectiveness of such controls. (c) T he balance sheet, the statement of profit and
loss, and the statement of cash flows dealt with
• Evaluate the appropriateness of accounting policies
by this Report are in agreement with the books
used and the reasonableness of accounting estimates
of account;
and related disclosures made by management.
(d) In our opinion, the aforesaid financial statements
• Conclude on the appropriateness of the management
comply with the accounting standards specified
and Board of Directors use of the going concern
under section 133 of the Act read with the
basis of accounting and, based on the audit evidence
Companies (Accounting Standards) Rules, 2021;
obtained, whether a material uncertainty exists
related to events or conditions that may cast (e) O
 n the basis of the written representations
significant doubt on the Company’s ability to continue received from the directors as on March 31, 2025
as a going concern. If we conclude that material taken on record by the Board of Directors, none
uncertainty exists, we are required to draw attention of the directors are disqualified as on March 31,
in our auditor’s report to the related disclosures in 2025 from being appointed as a director in terms
the financial statements or, if such disclosures are of Section 164 (2) of the Act;
inadequate, to modify our opinion. Our conclusions (f) W ith respect to the adequacy of the internal
are based on the audit evidence obtained up to the financial controls with reference to the
date of our auditor’s report. However, future events financial statements of the Company and the
or conditions may cause the Company to cease to operating effectiveness of such controls, refer
continue as a going concern. to our separate Report in “Annexure B”. Our
• Evaluate the overall presentation, structure and report expresses an unmodified opinion on
content of the financial statements, including the the adequacy and operating effectiveness of
disclosures, and whether the financial statements the Company’s internal financial controls with
represent the underlying transactions and events in reference to the financial statements;
a manner that achieves fair presentation. (g) W
 ith respect to the matters to be included in
We communicate with those charged with governance the Auditor’s Report under Section 197(16) of
regarding, among other matters, the planned scope and the Companies Act, 2013, in our opinion and
42 | Annual Report 2024-25
 Corporate Overview | Statutory Reports | Financial Statements

according to the information and explanations writing or otherwise, that the company
given to us, the remuneration paid by the shall, directly or indirectly, lend or
Company to its Managing Director, which is invest in other persons or entities
subject to approval from shareholders is, within identified in any manner whatsoever
the overall limit prescribed under Section 197 by or on behalf of the Funding Party
read with Schedule V of the Act. (“Ultimate Beneficiaries”) or provide any
guarantee, security or the like on behalf
(h) W
 ith respect to the other matters to be included
of the Ultimate Beneficiaries.
in the Auditor’s Report in accordance with Rule
11 of the Companies (Audit and Auditors) Rules, (c) Based on audit procedures that have been
2014, in our opinion and to the best of our considered reasonable and appropriate
information and according to the explanations in the circumstances, nothing has come
given to us: to our notice that has caused us to
believe that the representations under
i. T he Company does not have any pending
sub-clause (i) and (ii) of Rule 11(e)
litigations which would impact its financial
contain any material mis-statement.
position.
v. T he dividend declared/paid during the
ii. T he Company did not have any long-term
year by the Company is in compliance with
contracts including derivative contracts for
section 123 of the Act.
which there were any material foreseeable
losses. vi. Based on our examination, which included
test checks, the Company has used
iii. There were no amounts which were required
accounting software for maintaining its
to be transferred to the Investor Education
books of account for the financial year
and Protection Fund by the Company.
ended March 31, 2025 which has a feature
iv. (a) T he management has represented of recording audit trail (edit log) facility and
that, to the best of its knowledge and the same has operated throughout the year
belief, as disclosed in the note 36 to for all relevant transactions recorded in the
the financial statements, no funds have software except that audit trail feature was
been advanced or loaned or invested not enabled at the database level to log any
(either from borrowed funds or share direct data changes. Further, during the
premium or any other sources or kind course of our audit, we did not come across
of funds) by the Company to or in any any instance of audit trail feature being
other persons or entities, including tampered with, in respect of accounting
foreign entities (“Intermediaries”), with software for the period for which the audit
the understanding, whether recorded trail feature was enabled and operating.
in writing or otherwise, that the
Audit trail has been preserved by the Company as per the
Intermediary shall directly or indirectly
statutory requirements for record retention in accordance
lend or invest in other persons or entities
with the requirements of Rule 11(g) of the Companies
identified in any manner whatsoever
(Audit and Auditors) Rules, 2014.
(“Ultimate Beneficiaries”) by or on
behalf of the Company, or provide any For ASA & Associates LLP
guarantee, security or the like on behalf Chartered Accountants
of the Ultimate Beneficiaries. Firm Registration No: 009571N/N500006
(b) T he management has represented,
that, to the best of it’s knowledge and
G.N. Ramaswami
belief, as disclosed in the note 36 to
Partner
the financial statement, no funds have
Membership No: 202363
been received by the Company from any
UDIN: 25202363BMOQIH2236
persons or entities, including foreign
entities (“Funding Parties”), with the Place: Chennai
understanding, whether recorded in Date: June 16, 2025

| 43
Yogakshemam Loans Limited
CIN : U65992KL1991PLC005965

Annexure- A
referred to in paragraph 1 under ‘Report on Other Legal and Regulatory Requirements’ of our report of even date

(i) (a) reporting under clause 3(ii)(a) of the order is not

applicable to the Company.
(A) According to the information and explanations
given to us and audit procedures performed (b) T he Company has been sanctioned working
by us, the Company has maintained proper capital limits in excess of five crore rupees, in
records showing full particulars, including aggregate, from banks or financial institutions on
quantitative details and situation of Property, the basis of security of current assets. According
Plant and Equipment. to information and explanations given to us and
on the basis of our examination of the records of
(B) According to the information and explanations
the Company, the quarterly returns or statements
given to us and audit procedures performed
filed by the Company with such banks or financial
by us, the Company has maintained proper
institutions are in agreement with the books of
records showing full particulars of intangible
account of the Company.
assets.
iii. (a) The Company is a Non-Banking Finance Company
(b) The property, plant and equipment were physically
and is primarily engaged in the business of granting
verified during the year by the management
loans and hence the reporting under clause (iii) (a)
in accordance with a regular programme of
of Para 3 of the Order is not applicable.
verification which, in our opinion, provides for
physical verification of all the property, plant and (b) In our opinion and according to the information
equipment at reasonable intervals. According to and explanations given to us, the terms and
the information and explanations given to us, conditions of the grant of all loans and advances in
no material discrepancies were noticed on such the nature of loans during the year are, prima facie,
verification not prejudicial to the interest of the Company. The
company has not made any investments, and has
(c) According to information and explanations given
not provided any guarantee or security during the
to us and audit procedures performed by us, the
year.
title deeds of all of the immovable properties
(other than properties where the company is the (c) The Company, is a Non-Banking Finance Company,
lessee and the lease agreements are duly executed registered under the provisions of RBI Act, 1934
in favour of the lessee) disclosed in the financial and rules made thereunder, and is involved in the
statements are held in the name of the Company. business of granting loans/ lending. In our opinion
and according to the information and explanations
(d) According to information and explanations given
given to us, in respect of loans and advances in
to us and audit procedures performed by us, the
the nature of loans given by the Company, the
Company has not revalued its Property, Plant and
schedule of repayment of principal and payment
Equipment or intangible assets or both during the
of interest by its customers has been stipulated.
year.
The repayment of principal and payment of
(e) According to information and explanations given interest are regular except the instances where
to us and audit procedures performed by us, there there are delays or default in repayment of
are no proceedings initiated or are pending against principal and / or interest and in respect of which
the Company for holding any benami property the Company has created necessary provisions
under the Benami Transactions (Prohibition) Act, in accordance with Income Recognition Asset
1988 (45 of 1988) and rules made thereunder. Classification and Provisioning Norms issued by
ii. (a) The company is a Non-Banking Finance Company the Reserve Bank of India are disclosed in Note 29
involved in the business of rendering services of the financial statements. As regards reporting
and does not hold any inventory. Accordingly, on cases where the schedule of repayment of
principal and interest is stipulated and is not

44 | Annual Report 2024-25

 Corporate Overview | Statutory Reports | Financial Statements

regular, considering the nature of business of vi. According to information and explanations given to
the Company, it is not practicable to furnish us, the Central Government has not prescribed the
such details owing to voluminous nature of data maintenance of cost records under Section 148(1)
generated in the normal course of the Company’s of the Companies Act, 2013. Accordingly, reporting
business. under clause 3(vi) of the Order is not applicable.
(d) In respect of loans granted by the company, the vii. (a) A ccording to the information provided and
total amount overdue for more than ninety days explanations given to us and based on our
as per books of account as at the balance sheet examination of the records of the Company, the
date is as under: Company is generally regular in depositing with
appropriate authorities undisputed statutory dues
Principal Interest
No of amount amounts Total including Goods and Services Tax, provident fund,
cases overdue overdue Overdue employees’ state insurance, income-tax, sales-tax,
(Nos) (` in lakhs) (` in lakhs) (` in lakhs) service tax, duty of customs, duty of excise, value
5,538 1,998.21 563.67 2,561.88 added tax, cess and other material statutory dues
applicable to it. There are no material outstanding
statutory dues existing as on the last day of the
In our opinion, based on information and explanations
financial year which is outstanding for more than
provided to us, reasonable steps have been taken
six months from the day these becomes payable.
by the Company for the recovery of the principal
amounts and the interest thereon. (b) A ccording to the information provided and
explanations given to us, there are no statutory
(e) The Company is a Non-Banking Finance Company
dues relating to Goods and Services Tax, provident
engaged in the business of granting loans and
fund, employees’ state insurance, income-tax,
hence the reporting under clause (iii) (e) of Para 3
sales-tax, service tax, duty of customs, duty of
of the Order is not applicable.
excise, value added tax, cess or other statutory
(f) Based on our audit procedures and according to dues, which have not been deposited with the
the information and explanations made available appropriate authorities on account of any dispute.
to us, the Company has not granted any loans or
viii. A
 ccording to the information provided and
advances in the nature of loans either repayable on
explanations given to us, and on the basis of our
demand or without specifying any terms or period
examination of the records of the Company, the
of repayment during the year. The Company has
Company has not surrendered or disclosed any
not granted any loans or advances in the nature of
transactions, previously unrecorded as income in the
loans to Promoters and related parties as defined
books of account, in the tax assessment under the
in clause (76) of section 2 of the Act and hence
Income Tax Act, 1961 as income during the year and
the reporting under clause (iii) (f) of Para 3 of the
accordingly reporting under clause 3(viii) of the Order
Order is not applicable.
is not applicable.
iv. According to the information and explanations given
ix. (a) According to the information and explanations
to us, there are no loans and securities given by the
given to us and audit procedures performed by us,
company in respect of which provisions of sections
the Company has not defaulted in repayment of
185 and 186 of the Act, are applicable and the
loans and borrowings or in the payment of interest
company has not made any investments or issued any
thereon to the lenders during the year.
guarantee during the year. Hence the reporting under
clause (iv) of Para 3 of the Order is not applicable to (b) According to the information and explanations
the Company. given to us, the Company has not been declared as
willful defaulter by any bank or financial institution
v. The Company being a Non-Banking Finance Company
or government or any government authority.
registered with the Reserve Bank of India, the
provisions of sections 73 to 76 or any other relevant (c) According to the information and explanations
provisions of the Act and the Companies (Acceptance given to us and audit procedures performed by
of Deposits) Rules, 2014, as amended, with regard us, term loans were applied for the purposes for
to the deposits accepted are not applicable to the which they were obtained.
Company.

| 45
Yogakshemam Loans Limited
CIN : U65992KL1991PLC005965

(d) According to the information and explanations xii. A

 ccording to the information and explanation
given to us and on an overall examination of the given to us, the Company is not a Nidhi Company.
financial statements of the Company, we report Accordingly, reporting under clause 3(xii) of the Order
that no funds raised on short-term basis have been is not applicable.
used for long-term purposes by the Company.
xiii. I n our opinion and according to the information and
(e) The Company does not hold any investment in any explanations given to us, the transactions entered
subsidiary, associate or joint venture as defined with the related parties are in compliance with
under the Companies Act, 2013 during the year sections 177 and 188 of Companies Act, 2013 where
and accordingly reporting under clause 3 (ix)(e) applicable and details have been disclosed in the
and clause 3 (ix)(f) of the Order are not applicable financial statements as required by the applicable
to the Company. accounting standards.
x. (a) The Company has not raised any money by way xiv. (a) According to the information and explanations
of an initial public offer or further public offer given to us and audit procedures performed by us,
(including debt instruments) during the year. in our opinion, the Company has an internal audit
Accordingly, reporting under clause 3(x)(a) of the system commensurate with the size and nature of
Order is not applicable. its business.
(b) A ccording to the information provided and (b) We have considered the internal audit reports of
explanations given to us, and on the basis of our the Company issued till date, for the year under
examination of the records of the Company, the audit.
Company has not made any preferential allotment
xv. A
 ccording to the information and explanations given
or private placement of shares or convertible
to us, in our opinion the Company has not entered
debentures (fully, par tially or optionally
into any non-cash transactions with its directors
convertible) during the year. Accordingly,
or persons connected with its directors and hence
reporting under clause 3(x)(b) of the Order is not
provisions of section 192 of the Companies Act, 2013
applicable.
are not applicable to the Company.
xi. (a) According to the information and explanations
xvi. (a) According to the information and explanations
given by the management and based upon the
given to us, the Company is required to be
audit procedures performed for the purpose of
registered under section 45-IA of the Reserve
reporting the true and fair view of the financial
Bank of India Act, 1934 and the company has
statements, we report that no fraud by the
obtained required registration.
Company or any fraud on the Company has been
noticed or reported during the year, except as (b) According to the information and explanations
stated in Note No. 47 to the Financial Statements. given to us, the Company has not conducted any
Non-Banking Financial activities without a valid
(b) D uring the course of our examination of the
Certificate of Registration (CoR) from the Reserve
books and records of the Company, carried
Bank of India as per the Reserve Bank of India Act,
out in accordance with the generally accepted
1934.
auditing practices in India, and according to the
information and explanations given to us, report (c) Company is not Core Investment Company (CIC)
under section 143(12) of the Act, in Form ADT-4 as defined in the regulations made by the Reserve
as prescribed under rule 13 of Companies (Audit Bank of India. Accordingly, reporting under clause
and Auditors) Rules, 2014 was not required to be 3(xvi)(c) and (d) of the Order are not applicable.
filed with the Central Government. Accordingly, xvii. A
 ccording to the information and explanations given
the reporting under Clause 3(xi)(b) of the Order is to us and on an overall examination of the financial
not applicable to the Company. statements of the Company, the Company has not
(c) According to the information and explanations incurred cash losses in the financial year and in the
given by the management, there are no whistle immediately preceding financial year.
blower complaints received by the Company
during the year.

46 | Annual Report 2024-25

 Corporate Overview | Statutory Reports | Financial Statements

xviii.There has been no resignation of the statutory guarantee nor any assurance that all liabilities falling
auditors during the year and accordingly reporting due within a period of one year from the balance
under clause 3(xviii) of the Order is not applicable. sheet date, will get discharged by the Company as and
when they fall due.
xix. A
 ccording to the information and explanations given
to us and on the basis of the financial ratios, ageing xx. I n our opinion and according to the information and
and expected dates of realization of financial assets explanations given to us, there is no unspent amount
and payment of financial liabilities, our knowledge under sub-section (5) of Section 135 of the Companies
of the Board of Directors and management plans Act, 2013 pursuant to any project. Accordingly,
and based on our examination of the evidence reporting under clause 3(xx)(a) and (b) of the Order
supporting the assumptions, nothing has come to are not applicable.
our attention, which causes us to believe that any
For ASA & Associates LLP
material uncertainty exists as on the date of the audit
Chartered Accountants
report that the Company is not capable of meeting
Firm Registration No: 009571N/N500006
its liabilities existing at the date of balance sheet as
and when they fall due within a period of one year
from the balance sheet date. We, however, state that G.N. Ramaswami
this is not an assurance as to the future viability of Partner
the Company. We further state that our reporting is Membership No: 202363
based on the information and explanation as made UDIN: 25202363BMOQIH2236
available to us by the management of the Company up
to the date of the audit report and we neither give any Place: Chennai
Date: June 16, 2025

| 47
Yogakshemam Loans Limited
CIN : U65992KL1991PLC005965

Annexure B to the Independent Auditors’ Report

(Referred to in paragraph 2(f) under ‘Report on Other Legal and Regulatory Requirements’ section of our report of even
date)

Report on the Internal Financial Controls with established and maintained and if such controls operated
reference to the Financial Statements under Clause effectively in all material respects.
(i) of Sub-section 3 of Section 143 of the Companies Our audit involves performing procedures to obtain
Act, 2013 (“the Act”) audit evidence about the adequacy of the internal
We have audited the internal financial controls with financial controls system with reference to the Financial
reference to the Financial Statements of Yogakshemam Statements and their operating effectiveness. Our audit of
Loans Limited (the “Company”) as at March 31, 2025 in internal financial controls with reference to the Financial
conjunction with our audit of the financial statements of Statements included obtaining an understanding of
the Company for the year ended on that date. internal financial controls with reference to the Financial
Management’s Responsibility for Internal Financial Statements, assessing the risk that a material weakness
Controls exists, and testing and evaluating the design and operating
The Company’s management is responsible for establishing effectiveness of internal control based on the assessed
and maintaining internal financial controls based on the risk. The procedures selected depend on the auditor’s
internal control with reference to the Financial Statements judgment, including the assessment of the risks of material
criteria established by the Company considering the misstatement of the financial statements, whether due to
essential components of internal control stated in the fraud or error.
Guidance Note on Audit of Internal Financial Controls over We believe that the audit evidence we have obtained is
Financial Reporting issued by the Institute of Chartered sufficient and appropriate to provide a basis for our audit
Accountants of India (‘ICAI’). These responsibilities include opinion on the Company’s internal financial controls
the design, implementation and maintenance of adequate system with reference to the Financial Statements.
internal financial controls that were operating effectively
for ensuring the orderly and efficient conduct of its Meaning of Internal Financial Controls with
business, including adherence to Company’s policies, the reference to the Financial Statements
safeguarding of its assets, the prevention and detection of A Company’s internal financial control with reference
frauds and errors, the accuracy and completeness of the to the Financial Statements is a process designed to
accounting records, and the timely preparation of reliable provide reasonable assurance regarding the reliability
financial information, as required under the Act. of financial reporting and the preparation of financial
statements for external purposes in accordance with
Auditors’ Responsibility generally accepted accounting principles. A Company’s
Our responsibility is to express an opinion on the internal financial control with reference to the Financial
Company’s internal financial controls with reference to the Statements includes those policies and procedures that (1)
Financial Statements based on our audit. We conducted pertain to the maintenance of records that, in reasonable
our audit in accordance with the Guidance Note on Audit detail, accurately and fairly reflect the transactions and
of Internal Financial Controls over Financial Reporting (the dispositions of the assets of the Company; (2) provide
“Guidance Note”) issued by the ICAI and the Standards reasonable assurance that transactions are recorded as
on Auditing prescribed under section 143(10) of the necessary to permit preparation of financial statements in
Companies Act, 2013, to the extent applicable to an accordance with generally accepted accounting principles,
audit of internal financial controls with reference to the and that receipts and expenditures of the Company are
Financial Statements. Those Standards and the Guidance being made only in accordance with authorizations of
Note require that we comply with ethical requirements management and directors of the Company; and (3)
and plan and perform the audit to obtain reasonable provide reasonable assurance regarding prevention or
assurance about whether adequate internal financial timely detection of unauthorized acquisition, use, or
controls with reference to the Financial Statements was disposition of the Company’s assets that could have a
material effect on the financial statements.

48 | Annual Report 2024-25

 Corporate Overview | Statutory Reports | Financial Statements

Inherent Limitations of Internal Financial Controls with reference to the Financial Statements were operating
with reference to the Financial Statements effectively as at March 31, 2025, based on the internal
Because of the inherent limitations of internal financial control with reference to the Financial Statements criteria
controls with reference to the Financial Statements, established by the Company considering the essential
including the possibility of collusion or improper components of internal control stated in the Guidance
management override of controls, material misstatements Note on Audit of Internal Financial Controls over Financial
due to error or fraud may occur and not be detected. Also, Reporting issued by the Institute of Chartered Accountants
projections of any evaluation of the internal financial of India.
controls with reference to the Financial Statements to For ASA & Associates LLP
future periods are subject to the risk that the internal Chartered Accountants
financial control with reference to the Financial Statements Firm Registration No: 009571N/N500006
may become inadequate because of changes in conditions,
or that the degree of compliance with the policies or
procedures may deteriorate. G.N. Ramaswami
Opinion Partner
In our opinion, to the best of our information and Membership No: 202363
according to the explanations given to us, the Company UDIN: 25202363BMOQIH2236
has maintained, in all material respects, an adequate Place: Chennai
internal financial controls system with reference to the Date: June 16, 2025
Financial Statements and such internal financial controls

| 49
Yogakshemam Loans Limited
CIN : U65992KL1991PLC005965

Balance Sheet
as at March 31, 2025
(All amounts are in Indian ` in Lakhs, unless otherwise stated)

As at As at
Particulars Notes March 31, 2025 March 31, 2024
I. Equity and liabilities
(1) Shareholders’ funds
(a) Share capital 3 5,544.94 5,544.94
(b) Reserves and surplus 4 3,709.66 2,903.33
9,254.60 8,448.27
(2) Non-current liabilities
(a) Long-term borrowings 5 19,875.40 21,279.20
(b) Other long-term liabilities 6 1,193.36 1,553.03
(c ) Long-term provisions 9 883.35 747.37
21,952.11 23,579.60
(3) Current liabilities
(a) Short-term borrowings 7 25,664.77 22,600.70
(b) Other current liabilities 8 1,484.65 813.62
(c ) Short-term provisions 9 120.15 134.27
27,269.57 23,548.59
Total 58,476.28 55,576.46
II. Assets
(1) Non-current assets
(a) Property, Plant and Equipment and Intangible Assets
(i) Property, Plant and Equipment 10A 1,823.67 1,846.78
(ii) Intangible assets 10B 11.47 1.49
(iii) Capital work-in-progress 10C - 1.32
(b) Deferred tax assets 11 390.37 339.14
(c) Long-term loans and advances 12 5,314.87 5,630.67
(d) Other non-current assets 13 370.33 374.68
7,910.71 8,194.08
(2) Current assets
(a) Cash and cash equivalents 14 (a) 545.27 618.77
(b) Bank balance other than (a) above 14 (b) 1,441.10 732.12
(c) Short-term loans and advances 12 46,319.32 44,044.04
(d) Other current assets 13 2,259.88 1,987.45
50,565.57 47,382.38
Total 58,476.28 55,576.46
Corporate Information 1
Basis of accounting and preparation of financial statements 2
Summary of significant accounting policies 2.1
Additional Information 22 to 53
The accompanying notes form an integral part of the financial statements.

As per our report of even date

For ASA & Associates LLP. For and on behalf of the board of directors of
Chartered Accountants YOGAKSHEMAM LOANS LIMITED
ICAI Firm registration number : 009571N/N500006
GN Ramaswami I. Unnikrishnan N. D. Vijayan
Partner Managing Director Director
Membership no: 202363 DIN: 01773417 DIN: 03396044
Place: Chennai Prasad P. RajeshKumar K. Pillai
Date : 16th June 2025 Chief Financial Officer Company Secretary
M.No: F9182
Place: Thrissur
Date : 16th June 2025

50 | Annual Report 2024-25

 Corporate Overview | Statutory Reports | Financial Statements

Statement of profit and loss

for the year ended March 31, 2025
(All amounts are in Indian ` in Lakhs, unless otherwise stated)

Year ended Year ended

Particulars Notes March 31, 2025 March 31, 2024
Revenue
I. Revenue from operations 15 12,996.72 11,622.25
II. Other income 16 47.89 12.75
III. Total Income (I +II) 13,044.61 11,635.00
IV. Expenses
i) Employee benefits expense 17 3,580.23 3,219.46
ii) Finance costs 18 5,680.50 5,180.40
iii) Depreciation and amortization expense 19 240.07 255.74
iv) Other expenses 20 1,342.05 1,330.56
v) Provisions & Write off 21 898.06 713.35
Total Expenses 11,740.91 10,699.50
V. Profit before exceptional and extraordinary items and tax 1,303.70 935.50
(III - IV)
VI. Exceptional items - -
VII. Profit before extraordinary items and tax (V - VI) 1,303.70 935.50
VIII. Extraordinary items - -
IX. Profit before tax (VII -VIII) 1,303.70 935.50
X. Tax expense
Current tax 332.00 255.00
Short / (Excess) provision of earlier years (net) (5.19) (5.52)
Deferred tax (51.24) (66.48)
Total tax expense 275.57 183.00
XI. Profit after tax for the year (IX - X) 1,028.13 752.50
Earnings per share [nominal value of share `10/-]
Basic (in Indian Rupees) 22 1.85 1.36
Diluted (in Indian Rupees) 22 1.85 1.36
Corporate Information 1
Basis of accounting and preparation of financial statements 2
Summary of significant accounting policies 2.1
Additional Information 22 to 53
The accompanying notes form an integral part of the financial statements.

As per our report of even date

For ASA & Associates LLP. For and on behalf of the board of directors of
Chartered Accountants YOGAKSHEMAM LOANS LIMITED
ICAI Firm registration number : 009571N/N500006
GN Ramaswami I. Unnikrishnan N. D. Vijayan
Partner Managing Director Director
Membership no: 202363 DIN: 01773417 DIN: 03396044
Place: Chennai Prasad P. RajeshKumar K. Pillai
Date : 16th June 2025 Chief Financial Officer Company Secretary
M.No: F9182
Place: Thrissur
Date : 16th June 2025

| 51
Yogakshemam Loans Limited
CIN : U65992KL1991PLC005965

Cash flow Statement

for the year ended March 31, 2025
(All amounts are in Indian ` in Lakhs, unless otherwise stated)

Year ended Year ended

Particulars March 31, 2025 March 31, 2024
A. Cash flow from operating activities (under indirect method)
Profit before tax 1,303.70 935.50
Adjustments for -
- Depreciation and amortization 240.07 255.74
- Provision for employee benefits 9.51 (86.53)
- Provisions and write off 898.06 713.35
- Loss on sale of Property, Plant and Equipment (net) 2.16 1.83
Operating profit before working capital changes 2,453.50 1,819.89
Movements in working capital :
Adjustments for changes in -
- Other Current Liabilities 657.49 (30.32)
- Long-Term Loans and Advances (469.89) (1,356.35)
- Short Term Loans and Advances (2,275.28) (4,258.25)
- Other Current Assets (272.43) (496.99)
- Other Long Term Liabilities (359.67) 354.98
- Other Non Current Assets (8.65) 3.15
- Bank balance other than cash & cash equivalents (708.98) 5.68
Cash generated from / (used in) operations (983.91) (3,958.21)
Less: Direct taxes paid (net) (313.81) (229.02)
Net cash flow from/ (used in) operating activities (A) (1,297.72) (4,187.23)
B. Cash flows from investing activities
Purchase of Property, Plant and Equipment and Intangible Assets (232.05) (212.28)
Investment in Capital Work in Progress - (1.32)
Proceeds from disposal of Property, Plant and Equipment 4.24 0.88
Net cash flow from/ (used in) investing activities (B) (227.81) (212.72)
C. Cash flows from financing activities
Proceeds from issue of redeemable Non Convertible Debentures 2,098.05 1,644.00
Proceeds from issue of Subordinated Debts 956.40 1,181.90
Proceeds from Term Loans 19,850.00 14,840.00
Proceeds from receipt of Inter-Corporate Deposits 500.00 -
Repayment of redeemable Non Convertible Debentures (1,473.66) (1,421.63)
Repayment of Subordinated Debts (533.78) (825.57)
Repayments of Term Loans (18,060.86) (8,546.23)
Repayments of Inter-Corporate Deposits (500.00) -
Proceeds/(repayments) of Short term borrowings-net (1,168.63) (2,143.02)
Dividend paid (215.49) (215.63)
Net cash flow from/ (used in) financing activities (C) 1,452.03 4,513.82

52 | Annual Report 2024-25

 Corporate Overview | Statutory Reports | Financial Statements

Cash flow Statement

for the year ended March 31, 2025
(All amounts are in Indian ` in Lakhs, unless otherwise stated)

Year ended Year ended

Particulars March 31, 2025 March 31, 2024
Net increase/(decrease) in cash and cash equivalents (A + B + C) (73.50) 113.87
Cash and cash equivalents at the beginning of the year 618.77 504.90
Cash and cash equivalents at the end of the year 545.27 618.77
Components of cash and cash equivalents
Cash on hand 35.64 271.36
With banks
- in current account 509.63 347.41
Total cash and cash equivalents (note 14) 545.27 618.77
The accompanying notes form an integral part of the financial statements.

As per our report of even date

For ASA & Associates LLP. For and on behalf of the board of directors of
Chartered Accountants YOGAKSHEMAM LOANS LIMITED
ICAI Firm registration number : 009571N/N500006
GN Ramaswami I. Unnikrishnan N. D. Vijayan
Partner Managing Director Director
Membership no: 202363 DIN: 01773417 DIN: 03396044
Place: Chennai Prasad P. RajeshKumar K. Pillai
Date : 16th June 2025 Chief Financial Officer Company Secretary
M.No: F9182
Place: Thrissur
Date : 16th June 2025

| 53
Yogakshemam Loans Limited
CIN : U65992KL1991PLC005965

Notes to the Financial statements

for the year ended March 31, 2025

1) Corporate Information revenues, expenses, assets and liabilities and the

Yogakshemam Loans Limited ('the Company') was disclosure of contingent liabilities, at the end of
incorporated on February 13, 1991 in Thrissur, Kerala, the reporting period.
under the provisions of Companies Act 1956. The Although these estimates are based on the
Company is a Non-Banking Finance Company ('NBFC') management’s best knowledge of current
which offers a wide range of financial products events and actions, uncertainty about these
including Gold Loans, Vehicle Loans, SME Loans, assumptions and estimates could result in the
Micro Loans, Consumer Durable loans etc. Currently, outcomes requiring a material adjustment to the
the Company operates through 169 branches spread carrying amounts of assets or liabilities in future
across Kerala, Tamil Nadu, Karnataka & Andhra periods.
Pradesh as at March 31, 2025. The Company is a Non-
Deposit taking Non-Systemically Important NBFC, b) Cash Flow Statement
falling under NBFC- base layer (NBFC-BL) as per the Cash flows are reported using the indirect
extant guidelines issued by the Reserve Bank of India method, whereby profit / (loss) before
in this regard. The registered office of the company is extraordinary items and tax is adjusted for
at Thrissur, Kerala. the effects of transactions of non-cash nature
and any deferrals or accruals of past or future
2) Basis of accounting and preparation of financial cash receipts or payments. The cash flows from
statements operating, investing and financing activities
The financial statements of the Company have been of the Company are segregated based on the
prepared in accordance with the generally accepted available information.
accounting principles in India (Indian GAAP). The
Company has prepared these financial statements Cash comprises cash on hand and demand
in accordance with the accounting principles deposits with banks. Cash equivalents are short-
generally accepted in India, including the Companies term balances (with an original maturity of three
(Accounting Standards) Rules, 2021 (as amended) months or less from the date of acquisition),
specified under Section 133 of the Companies Act highly liquid investments that are readily
2013, read together with the Companies (Accounts) convertible into known amounts of cash and
Rules 2014 and other accounting principles generally which are subject to insignificant risk of changes
accepted in India mainly considering the Master in value.
Directions issued by Reserve Bank of India ('RBI') c) Property, Plant and Equipment and Depreciation
as applicable to Non-Banking Financial Companies thereon
- Non-Deposit taking Non-Systemically Important, Property, Plant and Equipment are stated
falling under NBFC- base layer (NBFC-BL). The financial at cost, less accumulated depreciation and
statements have been prepared under the historical impairment losses, if any. The cost comprises of
cost convention and on an accrual basis except for purchase price, borrowing costs if capitalization
interest on non-performing assets and penal charges criteria are met and directly attributable cost of
on loans and advances which are recognized on bringing the asset to its working condition for
realization basis. The accounting policies adopted in the intended use. Subsequent expenditure on
the preparation of financial statements are consistent fixed assets after their purchase / completion
with those of previous year. is capitalised, only if such expenditure results
The Company follows the prudential norms for income in an increase in the future benefits from such
recognition, asset classification and provisioning as asset beyond its previously assessed standard
prescribed by the Reserve Bank of India (RBI) for Non- of performance. Property, Plant and Equipment
Deposit taking Non-Systemically Important NBFC, retired from active use and held for sale are
falling under NBFC- base layer (NBFC-BL) stated at the lower of their net book value and
net realisable value and are disclosed separately.
2.1) Statement of significant accounting policies
a) Use of estimates The Company identifies and determines cost of
The preparation of financial statements in each component / part of the asset separately,
conformity with Indian GAAP requires the if the component / part has a cost which is
management to make judgments, estimates and significant to the total cost of the asset and has
assumptions that affect the reported amounts of useful life that is materially different from that
of the remaining asset.

54 | Annual Report 2024-25

 Corporate Overview | Statutory Reports | Financial Statements

Notes to the Financial statements

for the year ended March 31, 2025

Depreciation is provided using written down g) Investments

value method and as per the 'useful life' concept Investments, which are readily realizable and
as prescribed in the Part C of Schedule II of the intended to be held for not more than one year
Companies Act 2013. Depreciation on additions from the date on which such investments are
to property, plant and equipment are provided made, are classified as current investments. All
on a pro-rata basis from the month of addition. other investments are classified as long-term
investments.
Useful life of assets as per Schedule II of
Companies Act 2013 On initial recognition, all investments are
Asset Classification Useful Life (Years) measured at cost. The cost comprises purchase
price and directly attributable acquisition
Computers 3
charges such as brokerage, fees and duties.
Office equipment 5
Current investments are carried in the financial
Motor Cars 8
statements at lower of cost and fair value
Electric Fittings 10 determined on an individual investment basis.
Furniture & Fixtures 10 Long-term investments are carried at cost.
Buildings 60 However, provision for diminution in value
is made to recognize a decline other than
d) Intangible assets - Computer software &
temporary in the value of the investments.
licenses
Intangible assets acquired separately are On disposal of an investment, the difference
measured on initial recognition at cost. Following between its carrying amount and net disposal
initial recognition, intangible assets are carried proceeds is charged or credited to the statement
at cost less accumulated amortization and of profit and loss.
accumulated impairment losses, if any.
h) Revenue Recognition
Intangible assets are amortized on a straight line Interest Income is recognised under the Internal
basis over the estimated useful economic life of Rate of Return method on a time proportion
4 years or License Period, whichever is lower. basis to provide a constant periodic rate of
The estimated useful life of the intangible assets return on net investment outstanding on the
and the amortisation period are reviewed at the loan contracts. In the case of Non-Performing
end of each financial year and the amortisation Loans, interest income is recognised upon
method is revised to reflect the changed pattern. realisation, as per the RBI guidelines. Unrealised
e) Impairment of Property, Plant and Equipment interest recognised as income in the previous
and intangible assets : period is reversed in the month in which the loan
The carrying amount of assets is reviewed at is classified as Non Performing.
each Balance Sheet date to ascertain impairment Income from non-financing activity is recognised
based on internal or external factors. An asset as per the terms of the respective contract on
is treated as impaired when the carrying cost accrual basis.
of asset exceeds its recoverable value. An
impairment loss is charged to the Statement Profit/Loss from sale of investments is recognised
of Profit & Loss in the year in which an asset at the time of sale or redemption.
is identified as impaired. After impairment, Processing fees, Documentation charges, bad
depreciation is provided on the revised carrying debts recovered, processing and appraisal
amount of the asset over its remaining useful charges, cheque bounce charges and Penal
life. charge are accounted on receipt basis or when
f) Lease Accounting reasonable certainty of collection is established
Lease arrangements where the risks and rewards except for non-performing assets where such
incidental to ownership of an asset substantially charges are accounted on cash basis.
vest with the lessor are recognised as operating i) Employee Benefits
leases. Lease rentals under operating leases are A) Short term employee benefits
recognised in the Statement of Profit and Loss on All Employee benefits payable wholly within
a straight-line basis over the lease term. 12 months of rendering the service are

| 55
Yogakshemam Loans Limited
CIN : U65992KL1991PLC005965

Notes to the Financial statements

for the year ended March 31, 2025

classified as short term employee benefits The Company treats accumulated leave
and they are recognised in the period in expected to be carried forward beyond
which the employee renders the related twelve months, as long-term employee
service benefit for measurement purposes.
Such long-term compensated absences
B) Post Employment benefits
are provided for based on the actuarial
i. Defined Contribution Plans:
valuation using the projected unit credit
Provident fund : Retirement benefit in
method at the year-end. Actuarial
the form of Provident Fund is a defined
gains/losses are immediately taken to
contribution scheme. The Company
the statement of profit and loss and
has no deferred obligation payable
are not deferred. Leave encashment
to the provident fund. The Company
which are not expected to occur within
recognizes contribution payable to the
12 months after the end of the period
provident fund scheme as expenditure,
in which the employee renders the
when an employee renders the related
related services are recognised as a
service.
non current liability at the present
Employees’ State Insurance: The value of the defined benefit obligation
Company contributes to Employees at the balance sheet date.
State Insurance Scheme and recognises
j) Borrowing Costs
such contribution as an expense in the
Borrowing cost includes interest, ancillary costs
Statement of Profit and Loss in the
incurred in connection with the arrangement of
period when services are rendered by
borrowings, including borrowings sanctioned but
the employees.
not availed, is amortised on a straight-line basis,
ii. Defined Benefit Plans: over the tenure of the respective borrowings.
The company makes contributions Unamortised borrowing costs remaining, if any,
to the New Group Gratuity Cash are fully expensed off as and when the related
Accumulation Plan of the Life borrowings are prepaid / cancelled.
Insurance Corporation of India and
k) Taxation
Kotak Gratuity Group Plan of Kotak
Tax expense comprises current and deferred tax.
Mahindra Life Insurance Company
Current income-tax is measured at the amount
Ltd.. The net present value of the
expected to be paid to the tax authorities in
obligation for gratuity benefits as
accordance with the Income-tax Act, 1961
determined on independent actuarial
enacted in India and tax laws prevailing in the
valuation, conducted annually using
respective tax jurisdictions where the Company
the projected unit credit method,
operates. The tax rates and tax laws used to
as adjusted for unrecognised past
compute the amount are those that are enacted
services cost if any and as reduced
, at the reporting date.
by the fair value of plan assets, is
recognised in the accounts. Actuarial Deferred taxes reflect the impact of timing
gains and losses are recognized in full differences between taxable income and
in the Statement of Profit and Loss for accounting income originating during the
the period in which they occur. current year and reversal of timing differences
for the earlier years. Deferred tax is measured
iii. A
 ctuarial gains / losses are
using the tax rates and the tax laws enacted or
immediately taken to statement of
substantively enacted at the reporting date.
profit and loss and are not deferred.
iv. Accumulated leave, which is expected l) Earnings per share
to be utilized within the next 12 Basic earnings per share is computed by dividing
months, is treated as short-term the profit / (loss) after tax (including the post-
employee benefit. The Company tax effect of extraordinary-items, if any) by
measures the expected cost of such the weighted average number of equity shares
absences as the additional amount outstanding during the year. Diluted earnings
that it expects to pay as a result of per share is computed by dividing the profit
the unused entitlement that has / (loss) after tax (including the post-tax effect
accumulated at the reporting date. of extraordinary items, if any) as adjusted for

56 | Annual Report 2024-25

 Corporate Overview | Statutory Reports | Financial Statements

Notes to the Financial statements

for the year ended March 31, 2025

dividend, interest and other charges to expense because it cannot be measured reliably. The
or income (net of any attributable taxes) relating Company does not recognize a contingent
to the dilutive potential equity shares, by the liability but discloses its existence in the financial
weighted average number of equity shares statements.
considered for deriving basic earnings per
Contingent assets are neither recognised nor
share and the weighted average number of
disclosed in the financial statements
equity shares which could have been issued on
the conversion of all dilutive potential equity n) Asset classification and provisioning for loan
shares. Potential equity shares are deemed to be The company has followed the Master Directions
dilutive only if their conversion to equity shares issued by the Reserve Bank of India for Non-
would decrease the net profit per share from Banking Financial Companies in respect of
continuing ordinary operations. Prudential Norms for Income recognition asset
classification and provisioning.
For the purpose of calculating diluted earnings
per share, the net profit or loss for the period Provisioning for loan portfolio is determined
attributable to equity shareholders and the based on management estimates subject to
weighted average number of shares outstanding the minimum provision required as per the
during the period are adjusted for the effects of NBFC Master Directions and other applicable
all dilutive potential equity shares. guidelines / instructions issued by RBI from time
to time
m) Provisions , Contingent Liabilities & Contingent
Assets Unsecured loans are completely provided for in
Provisions are recognised only when the case the same is identified as a non performing
Company has present or legal or constructive asset.
obligations as a result of past events, for which it
o) Segment reporting
is probable that an outflow of economic benefit
The Company operates in a single reportable
will be required to settle the transaction and a
segment i.e., financing, which has similar risks
reliable estimate can be made for the amount of
and returns. The Company operates in a single
the obligation. Provisions are not discounted to
geographical segment i.e.., domestic.
their present value and are determined based
on the best estimate required to settle the p) Employee Share Based Payments
obligation at the reporting date. These estimates Measurement and disclosure of the employee
are reviewed at each reporting date and adjusted share based payment plans is done in accordance
to reflect the current best estimates. with the Guidance Note on Accounting for
Employee Share Based Payments, issued by the
A contingent liability is a possible obligation that
Institute of Chartered Accountants of India. The
arises from past events whose existence will be
Company measures compensation cost relating
confirmed by the occurrence or non-occurrence
to employee stock using the intrinsic value
of one or more uncertain future events beyond
method.
the control of the Company or a present
obligation that is not recognized because it is q) Input tax credit (Goods and Service Tax)
not probable that an outflow of resources will Input Tax Credit is accounted for in the books in
be required to settle the obligation. A contingent the period when the underlying service / supply
liability also arises in extremely rare cases where received is accounted and when there is no
there is a liability that cannot be recognized uncertainty in availing / utilising the same.

| 57
Yogakshemam Loans Limited
CIN : U65992KL1991PLC005965

Notes to the Financial statements

for the year ended March 31, 2025
(All amounts are in Indian ` in lakhs unless otherwise stated)

Note: 3
Share Capital
As at As at
March 31, 2025 March 31, 2024
Authorized shares
7,20,00,000 Equity Shares of ` 10 Each (7,20,00,000 Equity Shares of ` 10 7,200.00 7,200.00
Each as at 31st March 2024)
Issued, subscribed and fully paid-up shares
5,54,49,420 Nos Equity Shares @ ` 10/ Share (5,54,49,420 Nos Equity 5,544.94 5,544.94
Shares @ ` 10/ Share as at 31st March 2024)
Total issued, subscribed and fully paid-up share capital 5,544.94 5,544.94

a. Reconciliation of the number and amount of equity shares outstanding at the beginning and at the end of the
reporting period.
As at March 31, 2025 As at March 31, 2024
Particulars No of Shares Amount No of Shares Amount
Outstanding at the beginning of the year 5,54,49,420 5,544.94 5,54,49,420 5,544.94
Add: Shares issued during the year - - - -
Outstanding at the end of the year 5,54,49,420 5,544.94 5,54,49,420 5,544.94
b. Terms/Rights, Preferences and Restrictions attached to equity shares
The Company has only one class of shares referred to as equity shares having a par value of ` 10 per share. Each
holder of equity shares is entitled to one vote per share. The Company declares and pays dividend in Indian Rupees.
The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing annual
general meeting, except in the case of interim dividend, if any. The distribution will be in proportion to the number
of equity shares held by the shareholders.
c. The Board of directors has recommended a final dividend of ` 0.40 per equity share of `10 /- each, subject to
approval of shareholders at the ensuing annual general meeting.(Previous year ` 0.40 per equity share of ` 10/-
each)
d. In the case of liquidation of the Company, the holders of equity shares will be entitled to receive the remaining
assets of the Company, after distribution of all preferential claims as provided in the Companies Act, 2013. The
distribution will be in proportion to the number of equity shares held by the shareholders.
e. A ggregate number of bonus shares issued, and shares issued for consideration other than cash during the period
of five years immediately preceding the reporting date: NIL
f. Details of equity shares held by shareholders holding more than 5% of aggregate shares in the Company.
As at March 31, 2025 As at March 31, 2024
Name of shareholder No of Shares % holding No of Shares % holding
Mr. Unnikrishnan I 1,01,34,735 18.28 1,00,41,235 18.11
Mrs. Sathialakshmi.M. 58,69,850 10.59 58,00,000 10.46
Mrs. Jalajakumari Ramachandran 1,23,27,660 22.23 1,23,27,660 22.23
Mr. Ramachandran Ottappath 1,23,21,700 22.22 1,23,21,700 22.22
As per records of the Company, including its register of shareholders/ members and other declarations received from
shareholders regarding beneficial interest, the above shareholding represents both legal and beneficial ownerships
of shares.
g. Details of equity shares held by promoters at the end of the financial year
As at March 31, 2025 As at March 31, 2024
Percentage Percentage
No of shares Percentage of change during No of shares Percentage of change during
Name of Promoter held total shares the year held total shares the year
Mr. Unnikrishnan I 1,01,34,735 18.28 0.93 1,00,41,235 18.11 4.31
Total 1,01,34,735 18.28 0.93 1,00,41,235 18.11 4.31

58 | Annual Report 2024-25

 Corporate Overview | Statutory Reports | Financial Statements

Notes to the Financial statements

for the year ended March 31, 2025
(All amounts are in Indian ` in lakhs unless otherwise stated)

Note: 4
Reserves and Surplus
As at As at
March 31, 2025 March 31, 2024
(i) Statutory reserve (As required by section 45-IC of RBI Act, 1934)
Balance as per the last financial statements 875.60 725.10
Add: Amount transfered from surplus in the Statement of Profit & Loss 205.62 150.50
Closing Balance 1,081.22 875.60
(ii) Surplus in the Statement of Profit & Loss
Balance as per last financial statements 2,027.73 1,647.53
Less : Dividend paid (221.80) (221.80)
Add: Profit for the year 1,028.13 752.50
Less: Appropriations
Transfer to statutory reserve as per Section 45-IC of RBI Act, 1934 (205.62) (150.50)
Closing Balance 2,628.44 2,027.73
Total 3,709.66 2,903.33
Notes:
As per Rule 18(7)(b) of the Companies (Share Capital & Debenture) Rules 2014, Non banking financial companies (NBFCs)
and other financial institutions covered by section 2(72) of the Companies Act, 2013 are not required to maintain
debenture redemption reserve for privately placed Debentures.
The Board of Directors of the Company has proposed a final dividend of ` 0.40 per equity share, which is subject to
approval by the share holders at the ensuing Annual General Meeting. The total proposed dividend for the year ended
March 31, 2025 amounts to ` 221.80 lakhs. (Previous year - ` 221.80 Lakhs)

Note: 5
Long-term borrowings
Non-current portion Current maturities
As at As at As at As at
March 31, March 31, March 31, March 31,
2025 2024 2025 2024
Sub-ordinated debt (Unsecured) (Note 5.1)
Subordinated debts (Private placement - Retail ) 5,775.55 7,331.48 2,514.33 532.63
Debentures (Secured)
Redeemable Non-convertible Debentures - Private placement - 6,962.45 6,745.10 1,795.20 1,398.56
Retail (Note 5.2)
Term loans (Secured) (Note 5.3)
Indian Rupee Loan :
- from Banks - Note 5.3 (i) 2,613.05 4,317.82 4,988.89 6,624.68
- from NBFC’s - Note 5.3 (ii) 4,524.35 2,884.80 10,813.55 7,323.43
19,875.40 21,279.20 20,111.97 15,879.30
The above amount includes
Secured borrowings 14,099.85 13,947.72 17,597.64 15,346.67
Unsecured borrowings 5,775.55 7,331.48 2,514.33 532.63
Amount disclosed out of the above, under the head “short - - (20,111.97) (15,879.30)
term borrowings” (refer note 7)
Net amount 19,875.40 21,279.20 - -
Refer Note no 23 for details of transactions with related parties included in above.

| 59
60
Notes to the Financial statements
for the year ended March 31, 2025
(All amounts are in Indian Rupees in Lakhs, unless otherwise stated)
Note 5.1
Subordinated debts:
Subordinated debts have a face value of ` 1,000/- each. Details of rate of interest and maturity pattern from the date of the balance sheet is as under:
CIN : U65992KL1991PLC005965

As on March 31, 2025

Yogakshemam Loans Limited

Rate of interest (pa)

| Annual Report 2024-25

10.00% 10.25% 10.50% 10.75% 11.00% >11% &<=12% 12.50% Total
Redeemable at par Number Amount Number Amount Number Amount Number Amount Number Amount Number Amount Number Amount Number Amount
Due Above 5 years - - - - - - - - - - 14 149.00 1 108.00 15 257.00
Due within 4-5 years 115 241.40 4 23.00 48 255.50 1 5.00 32 260.50 14 155.00 1 25.00 215 965.40
Due within 3-4 years 62 330.00 45 126.00 33 233.12 27 74.40 12 142.38 1 10.00 - - 180 915.90
Due within 2-3 Years 114 603.60 - - 77 626.42 - - 16 215.00 45 391.50 - - 252 1,836.52
Due within 1-2 Years 14 75.15 - - 101 606.05 - - 71 725.75 50 393.78 - - 236 1,800.73
Due within 1 Year - - - - 597 850.15 - - 768 1,474.53 100 189.65 - - 1,465 2,514.33
Grand total 305 1,250.15 49 149.00 856 2,571.24 28 79.40 899 2,818.16 224 1,288.93 2 133.00 2,363 8,289.88

Non-current portion 5,775.55

Current maturities 2,514.33
Sub Total 8,289.88
Matured but not claimed (Refer Note 8) 11.00
Total 8,300.88

As on March 31, 2024

Rate of interest (pa)
10.00% 10.25% 10.50% 10.75% 11.00% >11% &<=12% Total
Redeemable at par Number Amount Number Amount Number Amount Number Amount Number Amount Number Amount Number Amount
Due Above 5 years - - - - - - - - 11 141.00 11 125.00 22 266.00
Due within 4-5 years 62 330.00 45 126.00 33 233.12 27 74.40 12 142.38 1 10.00 180 915.90
Due within 3-4 years 114 603.60 - - 77 626.42 - - 16 215.00 45 391.50 252 1,836.52
Due within 2-3 Years 14 75.15 - - 101 606.05 - - 70 725.75 50 393.78 235 1,800.73
Due within 1-2 Years - - - - 597 850.15 - - 768 1,474.53 99 187.65 1,464 2,512.33
Due within 1 Year - - - - 183 343.99 - - 116 186.64 1 2.00 300 532.63
Grand total 190 1,008.75 45 126.00 991 2,659.73 27 74.40 993 2,885.30 207 1,109.93 2,453 7,864.11

Non-current portion 7,331.48

Current maturities 532.63
Sub Total 7,864.11
Matured but not claimed (Refer Note 8) 14.15
Total 7,878.26
 Notes to the Financial statements
for the year ended March 31, 2025
(All amounts are in Indian Rupees in Lakhs, unless otherwise stated)
Note 5.2
Debentures (Secured) - Private placement retail - Redeemable Non Convertible Debentures of ` 1,000/- each.
As on March 31, 2025
Rate of interest (pa)
9.50% 10.00% >10% & <11% 11.00% >11% &<=12% >12% &<=13% Total
Redeemable at par Number Amount Number Amount Number Amount Number Amount Number Amount Number Amount Number Amount
Due within 4-5 years - - - - 186 1,023.05 - - 14 375.00 - - 200 1,398.05
Due within 3-4 years - - 20 100.00 163 1,087.00 1 25.00 9 232.00 - - 193 1,444.00
Due within 2-3 Years 41 203.25 83 600.45 37 327.00 6 165.39 - - - - 167 1,296.09
Due within 1-2 Years 40 216.00 101 740.36 43 630.55 13 317.50 61 419.90 1 500.00 259 2,824.31
Due within 1 Year - - - - 32 166.00 101 784.20 78 845.00 - - 211 1,795.20
Grand total 81 419.25 204 1,440.81 461 3,233.60 121 1,292.09 162 1,871.90 1 500.00 1,030 8,757.65

Non-current portion 6,962.45

Current maturities 1,795.20
Sub Total 8,757.65
Matured but not claimed (Refer Note 8) 10.40
Total 8,768.05

As on March 31, 2024

Rate of interest (pa)
9.50% 10.00% >10% & <11% 11.00% >11% &<=12% >12% &<=13% Total
Redeemable at par Number Amount Number Amount Number Amount Number Amount Number Amount Number Amount Number Amount
Due within 4-5 years - - 20 100.00 163 1,087.00 1 25.00 9 232.00 - - 193 1,444.00
Due within 3-4 years 44 223.75 84 607.45 38 332.00 6 165.39 - - - - 172 1,328.59
Due within 2-3 Years 40 216.00 101 740.36 45 650.55 13 317.50 62 434.90 - - 261 2,359.31
Due within 1-2 Years - - - - 32 166.00 103 796.20 77 651.00 - - 212 1,613.20
Due within 1 Year - - - - - - 125 735.56 16 613.00 2 50.00 143 1,398.56
Grand total 84 439.75 205 1,447.81 278 2,235.55 248 2,039.65 164 1,930.90 2 50.00 981 8,143.66

Non-current portion 6,745.10

Current maturities 1,398.56
Sub Total 8,143.66
Matured but not claimed (Refer Note 8) -
Total 8,143.66

|
Nature of Security
Non Convertible Debentures shall rank paripassu and the amount including its principal and interest amount are fully secured by hypothecation of all current assets, book debts and receivables
of the company, on a paripasu basis with other creditors, both present and future except those receivable specifically & exclusively charged. No debenture redemption reserve is created, being
Corporate Overview | Statutory Reports | Financial Statements

61
a private placement as per the requirements of the Companies (Share Capital & Debenture) Rules 2014.
Yogakshemam Loans Limited
CIN : U65992KL1991PLC005965

Notes to the Financial statements

for the year ended March 31, 2025
(All amounts are in Indian ` in lakhs unless otherwise stated)

Note 5.3
Term loans
Remaining Remaining Non-current portion Current maturities
Maturity as Maturity as
on March 31, on March 31, As at As at As at As at
2025 (Monthly 2024 (Monthly March 31, March 31, March 31, March 31,
Particulars Interest Rate Instalments) Instalments) 2025 2024 2025 2024
i) Indian Rupee loan from
banks (Secured)
AU Small Finance Bank Ltd @ 13.70 % pa - 5 - - - 208.33
REPO rate + 7.20%
AU Small Finance Bank Ltd @ 12.75 % pa - 11 - - - 320.84
REPO rate + 6.25%
AU Small Finance Bank Ltd @ 12.50 % pa 11 23 - 343.75 343.75 375.00
REPO rate + 6.00%
Bandhan Bank Ltd 11.85% pa 5 (quarterly) 9 (quarterly) 83.31 416.64 333.19 333.18
CSB Bank Ltd @ one year 13.35 % pa - 6 - - - 56.97
MCLR + 2.25%
CSB Bank Ltd @ one year 13.35 % pa - 9 - - - 179.53
MCLR + 2.30%
CSB Bank Ltd @ one year 11.75 % pa 20 32 333.24 833.28 490.97 498.43
MCLR + 1.45%
ESAF Small Finance Bank Ltd 14.35% pa - 6 - - - 85.27
@ REPO rate +7.85%
ESAF Small Finance Bank Ltd 14.20% pa 2 14 - 109.97 110.27 614.51
@ REPO rate + 6.95%
ESAF Small Finance Bank Ltd 12.80 % pa - 11 - - - 1,151.37
@ REPO rate + 6.30%
ESAF Small Finance Bank Ltd 13.50% pa 14 - 202.59 - 1,157.80 -
@ REPO rate + 6.25%
Fincare Small Finance Bank 12.74 % pa - 12 - - - 531.01
Ltd @ 3 month daily average
yield of 10 yr G-Sec + spread
5.44%
Fincare Small Finance Bank 12.44 % pa 9 21 - 340.63 338.82 405.60
Ltd @ 3 month daily average
yield of 10 yr G-Sec + spread
5.51%
IDFC First Bank Ltd 10.50 % pa 2 14 - 27.78 27.78 166.67
IDFC First Bank Ltd 12.75% pa 3 15 125.00 125.00 500.00
IDFC First Bank Ltd 12.00% pa 14 - 83.33 - 500.00 -
Karur Vysya Bank 11.75% pa 43 55 516.67 716.67 200.00 200.00
State Bank of India @ one 11.40 % pa 1 (quarterly) 5 (quarterly) - 125.00 112.60 488.61
year MCLR + 2.50 %
State Bank of India @ one 11.40 % pa 10 (quarterly) 14 (quarterly) 750.00 1,250.00 499.90 499.95
year MCLR + 2.30 %
The Federal Bank Ltd @ one 10.75% pa 22 - 625.00 - 738.63 -
year MCLR + 2.55%
HDFC Bank Ltd 8.00 % pa 32 44 18.91 29.10 10.19 9.41
Total (i) 2,613.05 4,317.82 4,988.90 6,624.68
ii) Indian Rupee loan from
NBFC’s (Secured)
Ambit Finvest Pvt Ltd 13.00 % pa 13 24 47.03 573.61 526.58 426.39
Incred Financial Service 13.20% pa 11 23 - 490.64 490.64 472.22
Limited
Manappuram Finance Ltd. 13.25% pa 4 16 - 185.55 185.55 510.07

62 | Annual Report 2024-25

 Corporate Overview | Statutory Reports | Financial Statements

Notes to the Financial statements

for the year ended March 31, 2025
(All amounts are in Indian ` in lakhs unless otherwise stated)

Note 5.3 Term loans (contd.)

Remaining Remaining Non-current portion Current maturities
Maturity as Maturity as
on March 31, on March 31, As at As at As at As at
2025 (Monthly 2024 (Monthly March 31, March 31, March 31, March 31,
Particulars Interest Rate Instalments) Instalments) 2025 2024 2025 2024
Manappuram Finance Ltd. 13.25% pa 22 - 358.85 - 381.73 -
Muthoot Capital Services Ltd 13.50 % pa - 9 - - - 562.50
Muthoot Capital Services Ltd 13.50 % pa 17 - 208.33 - 500.00 -
Muthoot Finance Ltd 12.60 % pa - 5 - - - 419.00
Muthoot Finance Ltd 13.00 % Pa - 6 - - - 502.00
Muthoot Finance Ltd 13.50% pa 21 370.00 504.00
Muthoot Finance Ltd 13.50% pa 15 118.00 504.00
Muthoot Money Ltd 13.40 % pa - 3 - - - 160.00
Muthoot Vehicle & Asset 13.25% pa 11 21 - 260.00 520.00 240.00
Finance Ltd
Oxyzo Financial Services 13.00% pa - 11 - - - 1,031.25
Private LTD.
Oxyzo Financial Services 13.00% pa 5 16 - 312.50 390.62 937.50
Private LTD.
Oxyzo Financial Services 13.25% pa 11 - - - 550.00 -
Private LTD.
STCI Finance Limited 13.25% pa 18 30 166.67 500.00 333.33 333.33
Vivriti Capital Pvt Ltd 13.45 % pa - 12 - - - 1,000.00
Vivriti Capital Pvt Ltd 13.20% pa 7 19 291.67 291.67 500.00
Vivriti Capital Pvt Ltd 13.25% pa 13 24 20.83 270.83 250.00 229.17
Vivriti Capital Pvt Ltd 13.35% pa 13 - 31.25 - 375.00 -
Vivriti Capital Pvt Ltd 13.4% pa 18 - 250.00 - 500.00 -
Vivriti Capital Pvt Ltd 13.4% pa 20 - 500.00 - 750.00 -
Vivriti Capital Pvt Ltd 13.4% pa 23 - 239.13 - 260.87 -
Vivriti Capital Pvt Ltd 13.4% pa 24 - 250.00 - 250.00 -
Electronica Finance Ltd. 13.00% pa 16 - 92.56 - 254.91 -
Profectus capital pvt ltd. 13.25% pa 16 - 92.74 - 254.93 -
Shriram Finance ltd. 13.50% pa 16 - 186.28 - 511.24 -
Shriram Finance ltd. 13.50% pa 23 - 196.87 - 188.87 -
Shriram Finance ltd. 13.50% pa 22 - 270.80 - 287.39 -
Moneywise Financial Services 13.50% pa 24 - 395.83 - 500.00 -
Pvt Ltd
IKF Finance LTD 13.75% pa 23 - 229.18 - 250.00 -
AK Capital Finance Limited 13.50% pa 18 - 500.00 - 1,002.22 -
Total (ii) 4,524.35 2,884.80 10,813.55 7,323.43
Total (I + ii) 7,137.40 7,202.62 15,802.44 13,948.11
Term loans from Banks & NBFC’s, are secured by pari passu first charge on entire loan receivables, book debts and current
assets of the company and personal guarantee of Promoter and Managing Director, Mr. Unnikrishnan I.
Term loan from State Bank of India is secured by collateral charge over the land and properties jointly owned by Mr
I Unnikrishnan, Managing Director, and his wife Mrs Sathialakshmi M., and on the fixed deposit worth ` 450 lakhs in
addition to the pari passu charge over the present and future loans and receivables of the Company.
Working Capital Demand Loans (WCDL) from The Federal Bank Ltd and Term loan from Karur Vysya Bank is having a
collateral charge over the land owned by the Company in addition to the pari passu charge over receivables of the
Company.
Term loans from ESAF Small Finance Bank Ltd, State Bank of India, Karur Vysya Bank and CSB Bank Ltd are having personal
guarantee of Mr Ramachandran Ottappath in addition to the paripassu charge over receivables of the company

| 63
Yogakshemam Loans Limited
CIN : U65992KL1991PLC005965

Notes to the Financial statements

for the year ended March 31, 2025
(All amounts are in Indian ` in lakhs unless otherwise stated)

Term loans from the State Bank of India is having personal guarantee of Mrs Sathialakshmi M, wife of Promoter &
Managing Director Mr Unnikrishnan I, in addition to the paripassu charge over receivables of the company
Refer Note no 23 for details of transactions with related parties included in above.

Note: 6
Other Long Term Liabilities
As at As at
March 31, 2025 March 31, 2024
Interest accrued but not due on Non-Convertible Debentures 528.42 654.95
Interest accrued but not due on Subordinated Debt 664.94 898.08
1,193.36 1,553.03
Refer Note no 23 for details of transactions with related parties included in above.

Note: 7
Short-term borrowings
As at As at
March 31, 2025 March 31, 2024
Loans repayable on demand:
- Overdraft Facility from Banks - Secured (Refer Note 7.1)
The South Indian Bank Ltd (Refer note 7.2 & 7.7) 53.73 50.73
Dhanlaxmi Bank Ltd (Refer Note 7.3) 461.96 1,781.03
The Karur Vysya Bank Ltd (Refer Note 7.4) 80.41 1,739.10
The Federal Bank Ltd (Refer Note 7.4) 28.45 30.54
- Working Capital demand loan from banks - Secured
The Federal Bank Ltd - 1,200.00
Dhanlaxmi Bank Ltd 2,700.00 1,500.00
The South Indian Bank Ltd 420.00 420.00
The Karur Vysya Bank Ltd 1,808.25 -
- Current maturities of long-term borrowings* (Refer Note 5)
Sub-ordinated debt (Unsecured) 2,514.33 532.63
Redeemable Non-convertible Debentures 1,795.20 1,398.56
Term Loans from Banks 4,988.89 6,624.68
Term Loans from NBFC’s 10,813.55 7,323.43
25,664.77 22,600.70
The above amount includes
Secured borrowings 23,150.44 22,068.07
Unsecured borrowings 2,514.33 532.63
Total 25,664.77 22,600.70
Interest rates on the bank facilities ranges from 10.75 % p.a. to 12.75 % p.a.
7.1: Overdraft facility and WCDL from banks are secured by pari passu charge on hypothecation of all movable assets,
current assets, book debts, and receivables (both present & future) in the name of the Company and personal guarantee
of Promoter and Managing Director, Mr. Unnikrishnan I.
7.2: Credit facility from the South Indian Bank Ltd is secured by collateral charge over the land and properties owned
by Mr I Unnikrishnan, Managing Director, in addition to the pari passu charge over the present and future loans and
receivables of the Company.
7.3: Credit facility from Dhanlaxmi Bank Ltd is secured by cash collateral of ` 454 lakhs (FD) done by the company in
addition to pari passu charge on Company’s assets & receivables. This facility is also having collateral charge on the land
owned by Mrs jalajakumari Ramachandran , deposit worth ` 546 lakhs owned by Mrs Jalajakumari Ramachandran and Mr
Ramachandran Ottappath and personal guarantee of Mrs Jalajakumari Ramachandran and Mr Ramachandran Ottappath.

64 | Annual Report 2024-25

 Corporate Overview | Statutory Reports | Financial Statements

Notes to the Financial statements

for the year ended March 31, 2025
(All amounts are in Indian ` in lakhs unless otherwise stated)

7.4: Credit facilities from The Karur Vysya Bank Ltd & The Federal Bank Ltd are having a collateral charge over the land
owned by the Company.
7.5 * Refer Note no 5 for details of terms and conditions of current maturities of long-term borrowings.
7.6 Credit facilities from Dhanlaxmi Bank Ltd, The South Indian Bank Ltd and The Karur Vysya Bank Ltd are having personal
guarantee of Mr Ramachandran Ottapath, in addition to the paripasu charge of receivables of the company.
7.7 Credit facilities from The South Indian Bank Ltd is having personal guarantee of Mrs Sathialakshmi M, wife of Promoter
& Managing Director Mr Unnikrishnan I, in addition to the paripassu charge over receivables of the company.
7.8 Refer Note no 23 for details of transactions with related parties included in above.

Note: 8
Other current liabilities
As at As at
March 31, 2025 March 31, 2024
Interest accrued & due on subordinated debts 49.31 44.85
Interest accrued & due on Non-Convertible Debentures 1.28 52.20
Interest accrued but not due on Non-Convertible Debentures 377.98 149.33
Interest accrued but not due on Subordinated Debt 622.51 115.09
Other Interest payable 94.03 70.33
Statutory dues payable 126.30 115.77
Expenses payable 124.63 132.62
Salary Payable 10.33 9.29
Unpaid Dividend 17.42 11.12
Unclaimed matured Non convertible debentures 10.40 -
Unclaimed matured Subordinated Debts 11.00 14.15
Others * 39.46 98.87
Total 1,484.65 813.62
Refer note no 23 for details of transactions with related parties included in above.
*
This includes ` 15.06 Lakhs payable to Indusind Bank Ltd (Prev year - ` 67.57 Lakhs ) being collection towards gold loans
under co lending facility which were paid subsequently.
*
This includes an unclaimed amount of ` 19.51 Lakhs (Prev year- ` 20.94 Lakhs) towards cheques issued to gold loan
customers against the excess amount received during the auction of pledged gold ornaments.

Note: 9
Provisions
Non - Current Current
As at As at As at As at
Particulars March 31, 2025 March 31, 2024 March 31, 2025 March 31, 2024
Provision for employee benefits
- Gratuity (refer note 24) 174.95 149.45 - -
- Leave encashment * 8.98 6.91 3.48 3.93
- Bonus - - - 17.61
Total (A) 183.93 156.36 3.48 21.54
- See note 2.1 (i) for disclosures required under Accounting Standards (AS15) “ Employee benefits” (revised 2005)
*
Liability towards encashment of earned leave is done as per valuation by actuary.
Provision against loans & advances
- Provision for non performing loan portfolio 689.10 578.99 - -
- Contingent provisions against standard assets 10.32 12.02 116.67 112.73
- Provision for restructured loans - - - -
Total (B) 699.42 591.01 116.67 112.73
Total Provisions (A+B) 883.35 747.37 120.15 134.27

| 65
Yogakshemam Loans Limited
CIN : U65992KL1991PLC005965

Notes to the Financial statements

for the year ended March 31, 2025
(All amounts are in Indian ` in lakhs unless otherwise stated)

Note: 9 Provisions (contd.)

Movement in Provisions :
As at As at
March 31, 2025 March 31, 2024
1) Provision for gratuity
Opening balance 149.45 139.20
Add :- Recognised during the year 65.50 51.65
Less :- Paid during the year 40.00 41.40
Closing balance 174.95 149.45

As at As at
March 31, 2025 March 31, 2024
2) Provision for Leave encashment
Opening balance 10.84 10.30
Add :- Recognised during the year 1.62 0.54
Less :- Utilized during the year - -
Closing balance 12.46 10.84

As at As at
March 31, 2025 March 31, 2024
3) Provision for bonus
Opening balance 17.61 114.93
Add :- Recognised during the year - -
Less :- Utilized during the year - 97.32
Less :- Reversed/ written back 17.61 -
Closing balance - 17.61

As at As at
March 31, 2025 March 31, 2024
4) Provision for non performing loan portfolio
Opening balance 578.99 365.12
Add :- Recognised during the year (net) 110.12 213.87
Less :- Utilized during the year - -
Closing balance 689.11 578.99

As at As at
March 31, 2025 March 31, 2024
5) Provision for standard assets
Opening balance 124.75 153.14
Add :- Recognised during the year 2.24 -
Less :- Utilized during the year (net) - 28.39
Closing balance 126.99 124.75

As at As at
March 31, 2025 March 31, 2024
6) Provision for restructured loans
Opening balance - 3.29
Less :- Utilized during the year - 3.29
Closing balance - -

66 | Annual Report 2024-25

 Corporate Overview | Statutory Reports | Financial Statements

Notes to the Financial statements

for the year ended March 31, 2025
(All amounts are in Indian ` in lakhs unless otherwise stated)

Note: 10 A
Property, Plant and Equipment
Furniture Vehicles
Office and Motor Motor Electrical
Particulars Land Buildings equipment Computer Fixtures Car cycle Fittings Total
Gross Block
At March 31, 2023 1,142.47 134.15 231.45 328.71 1,076.96 104.81 3.98 68.59 3,091.12
Additions FY 2023- - - 20.90 55.11 162.62 - 0.72 3.72 243.07
24
Deletions/ - - 6.15 6.70 15.75 - 0.53 0.48 29.61
adjustment
At March 31, 2024 1,142.47 134.15 246.20 377.12 1,223.83 104.81 4.17 71.83 3,304.58
Additions FY 2024- - - 34.60 70.10 114.32 - - 1.50 220.52
25
Deletions/ 1.26 - 10.92 30.47 36.99 - 2.09 2.05 83.78
adjustment
At March 31, 2025 1,141.21 134.15 269.88 416.75 1,301.16 104.81 2.08 71.28 3,441.32

Accumulated
Depreciation
Up to March 31, - 50.98 180.16 268.97 632.80 39.57 3.83 55.22 1,231.53
2023
Charge for the - 9.13 26.97 53.85 138.98 20.32 0.17 3.76 253.18
year 2023-24
Disposal/ - - 5.91 6.39 13.65 - 0.50 0.46 26.91
Adjustment
Up to March 31, - 60.11 201.22 316.43 758.13 59.89 3.50 58.52 1,457.80
2024
Charge for the - 8.12 24.71 53.60 133.26 13.97 0.17 3.42 237.25
year 2024-25
Disposal/ - - 10.37 29.13 33.93 2.02 1.95 77.40
Adjustment
Up to March 31, - 68.23 215.56 340.90 857.46 73.86 1.65 59.99 1,617.65
2025

Net block
At March 31, 2024 1,142.47 74.04 44.98 60.69 465.70 44.92 0.67 13.31 1,846.78
At March 31, 2025 1,141.21 65.92 54.32 75.85 443.70 30.95 0.43 11.29 1,823.67
Note - No revaluation of any class of asset is carried out during the year.

| 67
Yogakshemam Loans Limited
CIN : U65992KL1991PLC005965

Notes to the Financial statements

for the year ended March 31, 2025
(All amounts are in Indian ` in lakhs unless otherwise stated)

Note: 10 B
Intangible assets
Particulars Computer Software
Gross Block
At March 31, 2023 20.39
Additions 0.15
Deletions -
At March 31, 2024 20.54
Additions 12.80
Deletions
At March 31, 2025 33.34

Amortization
Upto 31 March , 2023 16.49
Charge for the year 2023-24 2.56
Deletions -
Upto 31 March , 2024 19.05
Charge for the year 2024-25 2.82
Deletions -
Upto 31 March , 2025 21.87

Net block
At March 31, 2024 1.49
At March 31, 2025 11.47

Note: 10 C
Capital Works-in-Progress
As at As at
Particulars 31st March 2025 31st March 2024
Furniture & Fixtures - 1.32
Total - 1.32

CWIP ageing schedule

Less than 1 year More than 1 year Total
As at 31st As at 31st As at 31st As at 31st As at 31st As at 31st
Particulars March 2025 March 2024 March 2025 March 2024 March 2025 March 2024
Ongoing projects - Furniture & - 1.32 - - - 1.32
fixtures
Projects suspended - - - - - -
Total - 1.32 - - - 1.32

Note: 11
Deferred Tax Assets
As at As at
Particulars 31st March 2025 31st March 2024
Deferred Tax Assets on account of :-
- Accumulated depreciation difference 137.79 124.39
- Provision on advances / loan portfolio 205.41 177.13
- Provision for employee benefits 47.17 37.62
Total Deferred Tax Asset 390.37 339.14

68 | Annual Report 2024-25

 Corporate Overview | Statutory Reports | Financial Statements

Notes to the Financial statements

for the year ended March 31, 2025
(All amounts are in Indian ` in lakhs unless otherwise stated)

Note: 12
Loans and advances
Non-current Current
As at As at As at As at
Particulars March 31, 2025 March 31, 2024 March 31, 2025 March 31, 2024
Portfolio Loan
Secured, considered good
- Gold Loan# - - 38,594.95 34,651.20
- Term Loan* 77.76 93.81 119.88 169.52
- Vehicle Loan* 3,885.32 4,004.15 3,683.35 3,900.42
3,963.08 4,097.96 42,398.18 38,721.14
Secured, considered doubtful
- Gold Loan 3.24 15.32 - -
- Term Loan* 257.15 296.75 - -
- Vehicle Loan* 802.40 767.23 - -
1,062.79 1,079.30 - -
Portfolio Loan
Unsecured, considered good
- Business Loan* 102.17 143.17 3,036.56 3,314.58
- Micro Loans* 55.37 187.26 654.94 1,869.83
- Consumer durable loan* - - 226.78 138.49
157.54 330.43 3,918.28 5,322.90
Unsecured, considered doubtful
- Business Loan* 57.99 75.61 - -
- Micro Loans* 49.22 32.74 - -
- Consumer durable loan* 9.66 1.51 - -
116.87 109.86 - -
Unsecured, considered good
Advances recoverable in cash or in kind or for
value to be received:
Staff Loan 14.59 13.12 - -
Trade Advances - - 2.86 -
14.59 13.12 2.86 -
Total 5,314.87 5,630.67 46,319.32 44,044.04
#
During the period, company has booked gold loans under co-lending partnership with IndusInd Bank Ltd (Bank) &
Manappuram Finance Ltd (MAFIL) and an amount of ` 9829 Lakhs (Prev year ` 2654 Lakhs) & ` 78 Lakhs (Prev year ` 1479
Lakhs) representing Bank’s and MAFIL share respectively is netted off from the loan amount, being an off book exposure
of the company as on March 31.2025. Loan sharing proportion for MAFIL & Indusind bank Ltd with Yogakshemam Loans
Ltd was in 80:20 ratio . An Amount of ` 169 lakhs (Prev year - Nil) has been included in the off book exposure of ` 9829
lakhs pertaining to Indusind bank, representing co lending share of bank (80%) on loans booked at Indusind bank on
March 31 2025 and remitted to the disbursement escrow account by the bank but credited to the current account of
Yogakshemam loans limited after March 31 2025.
*
including interest on instalments due

| 69
Yogakshemam Loans Limited
CIN : U65992KL1991PLC005965

Notes to the Financial statements

for the year ended March 31, 2025
(All amounts are in Indian ` in lakhs unless otherwise stated)

Note: 13
Other assets
Non-current Current
As at As at As at As at
March 31, 2025 March 31, 2024 March 31, 2025 March 31, 2024
Secured, considered good
- Security Deposits
Rental deposits 311.78 302.73 - -
National Savings Certificates- deposited as 6.30 6.70 - -
security under Kerala Money Lenders Act
Other security deposits 0.84 0.84 - -
Total (a) 318.92 310.27 - -
- Others
Interest accrued but not due on loans - - 1,307.73 1,024.09
Interest accrued and due on loans - - 734.91 832.95
Interest accrued but not due on deposits - - 29.48 4.03
Advance taxes net of provisions 51.41 64.41 - -
Prepaid expenses - - 119.20 96.32
Others - - 68.56 30.06
Total (b) 51.41 64.41 2,259.88 1,987.45
Total (a +b) 370.33 374.68 2,259.88 1,987.45

Note: 14
Cash and cash equivalents
Non-current Current
As at As at As at As at
March 31, 2025 March 31, 2024 March 31, 2025 March 31, 2024
(a) Cash & Cash Equivalents
(i) Balance with banks (note 14.1) - - 509.63 347.41
(ii) Cash on hand - - 35.64 271.36
Total Cash & Cash Equivalents - - 545.27 618.77
(b) Bank Balances other than (a) above
(i) Earmarked balance with banks
- Against cheques issued for surplus on gold - - 19.68 21.00
auction (note 14.2)
- Unpaid dividend account - - 17.42 11.12
(ii) Margin money / Cash collateral with banks
- Fixed Deposits with remaining maturity for - - 1,404.00 700.00
less than 12 months ( note 14.3)
Total bank balance other than cash & cash - - 1,441.10 732.12
equivalents
Total Cash & Cash Equivalents & Other bank - - 1,986.37 1,350.89
balances

14.1 - This includes ` 169 Lakhs (Prev year - Nil) held in co-lending disbursement escrow account as on March 31 2025,
representing the share of Yogakshemam Loans Ltd on the loans booked at Indusind bank under co lending scheme on
March 31 2025. This amount has been subsequently transferred to the current account of Yogakshemam loans Ltd.
14.2- Represents unclaimed amount kept in separate bank account with SBI, towards payment of surplus amount
received over and above the outstanding amount at the time of gold auctions.

70 | Annual Report 2024-25

 Corporate Overview | Statutory Reports | Financial Statements

Notes to the Financial statements

for the year ended March 31, 2025
(All amounts are in Indian ` in lakhs unless otherwise stated)

14.3 - Fixed Deposits held with State Bank of India (Current year - ` 450 Lakhs, Prev year - ` 450 Lakhs) as collateral for
the credit facilities extended by the State bank of India, with Dhanlaxmi Bank Ltd ( Current year - ` 454 Lakhs, Prev year
- Nil) as collateral for the credit facilities extended by Dhanlaxmi Bank Ltd and with Indusind bank ( Current year - ` 500
Lakhs, Prev year - ` 250 lakhs) as security for the co-lending facility sanctioned by Indusind bank Limited.

Note: 15
Revenue from operations
Year ended Year ended
March 31, 2025 March 31, 2024
Interest Income
Interest Received on Gold loans 8,597.93 7,212.38
Interest Received on Term loans 68.33 81.11
Interest Received on Vehicle loans 1,851.15 1,906.45
Interest Received on Business loans 800.96 779.47
Interest Received on Micro loans 375.23 423.50
Interest Received on Consumer durable loans 45.40 17.18
Other Loans 2.04 2.14
Total Interest income (A) 11,741.04 10,422.23
Other operating revenues
Documentation fee 190.96 260.54
Processing & related charges 267.38 207.63
Overdue collection charges 141.41 181.88
Interest on Bank deposits 99.20 49.40
Recovery from written off account 121.36 144.92
Penal charges for delayed payment of interest /principal 367.77 275.12
Others 67.60 80.53
Total other operating revenues (B) 1,255.68 1,200.02
Revenue from operations (A+B) 12,996.72 11,622.25

Note: 16
Other Income
Year ended Year ended
March 31, 2025 March 31, 2024
Interest on Income tax refund 2.46 4.11
Miscellaneous receipts 45.43 8.64
Total 47.89 12.75

Note: 17
Employee benefits expense
Year ended Year ended
March 31, 2025 March 31, 2024
Salaries, wages and bonus 3,199.49 2,872.77
Contribution to provident and other funds 285.95 269.32
Gratuity expense (Note 24) 65.50 51.65
Staff welfare expenses 29.29 25.72
Total 3,580.23 3,219.46

| 71
Yogakshemam Loans Limited
CIN : U65992KL1991PLC005965

Notes to the Financial statements

for the year ended March 31, 2025
(All amounts are in Indian ` in lakhs unless otherwise stated)

Note No. 17.1 - Reappointment of the Managing Director

Pursuant to the expiry of the current term of appointment of the Managing Director on 5th December 2024, the Board
of Directors in its meeting held on March 25 2025, has approved the reappointment of Managing Director for a further
period of 5 years from 6th December 2024. The said reappointment is subject to approval of the shareholders in the
ensuing general meeting of the Company.
Note No. 17.2 – Remuneration paid to the Managing Director
Remuneration paid to the Managing Director for the year amounting to ` 85.85 lakhs (excluding company contribution
to Provident fund), as approved by the Board of Directors is subject to the approval of the shareholders in the ensuing
general meeting.

Note: 18
Finance costs
Year ended Year ended
March 31, 2025 March 31, 2024
a) Interest expense on
- Non- Convertible Debentures 963.44 947.28
- Sub ordinated debts 983.54 908.90
- Bank overdrafts 715.89 669.95
- Term loan from bank / financial institutions 2,862.70 2,492.28
- Inter Corporate Deposit 20.38 -
b) Other borrowing costs
- Loan processing charges 134.53 161.70
- others 0.02 0.29
Total 5,680.50 5,180.40
Refer note no 23 for details of transactions with related parties included in above.

Note: 19
Depreciation and amortization expense
Year ended Year ended
March 31, 2025 March 31, 2024
Depreciation (Note 10A) 237.25 253.18
Amortization of intangible assets (Note 10B) 2.82 2.56
Total 240.07 255.74

Note: 20
Other expenses
Year ended Year ended
March 31, 2025 March 31, 2024
Rent 446.55 406.17
Legal and professional fees 161.66 175.63
Brokerage and commission expenses 95.89 122.05
Office expenses 92.75 84.26
Rates and taxes 96.50 136.13
Insurance 16.31 19.04
Repairs and maintenance 58.95 49.52

72 | Annual Report 2024-25

 Corporate Overview | Statutory Reports | Financial Statements

Notes to the Financial statements

for the year ended March 31, 2025
(All amounts are in Indian ` in lakhs unless otherwise stated)

Note: 20 Other expenses (contd.)

Year ended Year ended
March 31, 2025 March 31, 2024
Advertising and sales promotion 42.24 53.04
Travelling and conveyance 85.61 80.71
Communication costs 79.36 68.90
Printing and stationery 39.34 38.18
IT Support costs 23.34 18.56
Sitting fee to directors 17.71 15.61
Bank charges 65.84 41.37
Loss on sale of Property, Plant and Equipment (net) 2.16 1.83
CSR Expenses 17.00 19.06
Miscellaneous expenses 0.84 0.50
Total 1,342.05 1,330.56
Legal and professional fees includes payment to statutory auditors
- For statutory audit 18.00 16.00
- For other certification 3.50 2.00
- For travelling and out of pocket expenses 2.65 0.47
24.15 18.47
Refer note no 23 for details of transactions with related parties included in above.

Note: 21
Provisions and Write off
Year ended Year ended
March 31, 2025 March 31, 2024
Bad debts / advances written off 785.70 531.15
Provision for non performing assets 110.12 213.87
Provision for Standard assets 2.24 (28.39)
Provision for Restructured Loans - (3.28)
Total 898.06 713.35

Note: 22
Earnings per share (EPS)
Year ended Year ended
March 31, 2025 March 31, 2024
Net Profit after tax for the year 1,028.13 752.50
Weighted average number of equity shares in calculating Basic EPS (Nos.) 5,54,49,420 5,54,49,420
Effect of dilution
Stock option granted under ESOP (Nos) 44,000 68,000
Weighted average number of equity shares in calculating Diluted EPS (Nos.) 5,54,93,420 5,55,17,420
Basic Earnings per Share (BEPS) in Rupees 1.85 1.36
Diluted Earnings per Share (DEPS) in Rupees 1.85 1.36

| 73
Yogakshemam Loans Limited
CIN : U65992KL1991PLC005965

Notes to the Financial statements

for the year ended March 31, 2025
(All amounts are in Indian ` in lakhs unless otherwise stated)

Note 23 : Related parties with whom transactions have taken place during the year
Names of Related Parties & relationship
Relationship Name of the party
Associates / Enterprises owned or significantly Ottapath Projects & Developers Pvt Ltd
influenced by key management personnel or
their relatives
Key Management Personnel Mr. I Unnikrishnan (Managing Director & Chief Executive Officer)
Mr. Rajesh Kumar K Pillai (Company Secretary)
Mr. Prasad P (Chief Financial Officer)
Other Directors Mr. Ramachandran Ottappath (Chairman)
Mr. N D Vijayan
Dr. Pushpangadan M (Retired on 30th Aug 2024)
Mr. Anoop G (Retired on 30th Aug 2024)
Mr. Santhosh Kurup
Mr. P N Unnirajan
Mr. Mohandas Ancheri (Joined the board on 30th Aug 2024)
Mrs. Silpa Ramdas (Joined the board on 30th Aug 2024)
Individuals & relatives of Individuals exercising Mrs. Jalajakumari Ramachandran ( Wife of Mr Ramachandran
control or significant influence Ottappath)
Relatives of Directors & key management Mrs. Sathialakshmi M (Wife of Mr I Unnikrishnan)
personnel Mr. Abhijith Unnikrishnan (Son of Mr I Unnikrishnan)
Mrs. Rema Vijayan (Wife of Mr N D Vijayan)
Mrs. Geetha Pushpangadan (Wife of Mr Pushpangadan M)
Miss. Aiswarya Unnikrishnan (Daughter of Mr I Unnikrishnan)
Mr. Sureshkumar I (Brother of Mr Unnikrishnan I)
Mrs. Sreeja K ( Wife of Mr Anoop G.)
Mrs. Smitha Rajesh (Wife of Mr Rajeshkumar K Pillai)
Mrs. Archana G. (Wife of Mr. Prasad P.)
Miss. Vasundhara Rajesh (Daughter of Mr Rajeshkumar K Pillai)

Related Party transactions during the year:

Directors , Key
Associates / Enterprises Management Personnel
owned or significantly & Individuals & relatives
influenced by key of Individuals exercising
management personnel control or significant Relatives of key
or their relatives influence management personnel
March 31, March 31, March 31, March 31, March 31, March 31,
Particulars 2025 2024 2025 2024 2025 2024
Debentures and Subordinated Debt
issued during the year
- Mrs. Sathialakshmi M 25.00 -
- Miss Aiswarya Unnikrishnan 10.00
- Mrs. Geetha Pushpangadhan 25.00 25.00
- Mrs. Rema Vijayan 20.00
- Miss Vasundhara Rajesh 3.00
Debentures and Subordinated Debt
redeemed during the year
- Mrs. Sathialakshmi M 5.00 14.00

74 | Annual Report 2024-25

 Corporate Overview | Statutory Reports | Financial Statements

Notes to the Financial statements

for the year ended March 31, 2025
(All amounts are in Indian ` in lakhs unless otherwise stated)

Note 23 : Related parties with whom transactions have taken place during the year (contd.)
Directors , Key
Associates / Enterprises Management Personnel
owned or significantly & Individuals & relatives
influenced by key of Individuals exercising
management personnel control or significant Relatives of key
or their relatives influence management personnel
March 31, March 31, March 31, March 31, March 31, March 31,
Particulars 2025 2024 2025 2024 2025 2024
-Mr. Abhijith Unnikrishnan 1.50
- Mrs. Geetha Pushpangadhan 25.00 15.00
- Mrs. Rema Vijayan 10.00
Interest paid on Debentures &
Subordinated debts
- Mrs. Sathialakshmi M 12.62 13.24
- Mrs. Rema Vijayan 2.30 1.64
- Mrs. Geetha Pushpangadhan 12.23 11.63
- Miss Aiswarya Unnikrishnan 10.20 9.67
-Mr. Abhijith Unnikrishnan 2.67 2.52
- Mrs. Sreeja K 0.95 0.86
- Mrs. Smitha Rajesh 1.16 1.05
- Mrs. Archana G 0.08 0.07
- Miss. Vasundhara Rajesh 0.33 0.05
Rent Paid (including GST)
- Ottapath Projects & Developers Pvt Ltd 41.57 36.77
Salary Paid
- Mr Sureshkumar I 4.79 4.57
Dividend paid to Directors & Key
Management Personnel
- Mr. Unnikrishnan I 40.54 38.54
- Mr. Ramachandran Ottappath 49.29 49.29
- Mr. Anoop G 1.00 1.00
- Mr. Pushpangadan M 0.40 0.40
- Mr. Santhosh Kurup 0.49 0.49
- Mr. N D Vijayan 0.60 0.60
- Mr. Rajesh Kumar K Pillai 0.23 0.23
- Mr. Prasad P 0.04 0.04
Dividend paid to person having
significant influence on management
- Mrs. Jalajakumari Ramachandran 49.31 49.31
Dividend paid to director’s relatives
- Mrs. Sathialakshmi M 23.33 23.20
-Mr. Abhijith Unnikrishnan 3.67 3.67
- Mrs. Rema Vijayan 0.02 0.02
Sitting fee paid to directors
- Mr. Anoop G 1.56 3.00
- Mr. Pushpangadan M 1.56 3.27
- Mr. Santhosh Kurup 2.93 2.74

| 75
Yogakshemam Loans Limited
CIN : U65992KL1991PLC005965

Notes to the Financial statements

for the year ended March 31, 2025
(All amounts are in Indian ` in lakhs unless otherwise stated)

Note 23 : Related parties with whom transactions have taken place during the year (contd.)
Directors , Key
Associates / Enterprises Management Personnel
owned or significantly & Individuals & relatives
influenced by key of Individuals exercising
management personnel control or significant Relatives of key
or their relatives influence management personnel
March 31, March 31, March 31, March 31, March 31, March 31,
Particulars 2025 2024 2025 2024 2025 2024
- Mr. N D Vijayan 3.84 3.36
- Mr. P N Unnirajan 3.60 3.24
-Mr. Mohandas Ancheri 2.35 -
-Mrs. Silpa Ramdas 1.87 -
Remuneration to Directors & Key
Management Personnel
- Mr. Unnikrishnan I (Refer Note 17.2 ) 93.05 87.06
- Mr. Rajesh Kumar K Pillai 40.73 37.04
- Mr. Prasad P 29.13 26.50
Balance outstanding as at the year end:
i) Non Convertible Debentures &
Subordinated debts
- Mrs. Sathialakshmi M 123.00 103.00
-Mr. Abhijith Unnikrishnan 19.00 19.00
- Miss Aiswarya Unnikrishnan 85.00 85.00
- Mrs. Rema Vijayan 20.00 20.00
- Mrs. Geetha Pushpangadhan 95.00 95.00
- Mrs. Sreeja K 5.00 5.00
- Mrs. Smitha Rajesh 7.75 7.75
- Mrs. Archana G 0.50 0.50
- Miss. Vasundhara Rajesh 3.00 3.00
ii) Interest payable on the borrowings
referred to above -
- Mrs. Sathialakshmi M 3.10 2.86
-Mr. Abhijith Unnikrishnan 7.07 4.67
- Miss Aiswarya Unnikrishnan 6.67 4.05
- Mrs. Rema Vijayan 3.15 0.85
- Mrs. Geetha Pushpangadhan 21.75 13.57
- Mrs. Sreeja K 3.75 2.90
- Mrs. Smitha Rajesh 3.97 2.81
- Mrs. Archana G 0.27 0.19
- Miss. Vasundhara Rajesh 0.38 0.05
Maximum outstanding during the year:
i) Non Convertible Debentures &
Subordinated debts
- Mrs. Sathialakshmi M 123.00 117.00
-Mr. Abhijith Unnikrishnan 19.00 20.50
- Miss Aiswarya Unnikrishnan 85.00 85.00
- Mrs. Rema Vijayan 20.00 20.00

76 | Annual Report 2024-25

 Corporate Overview | Statutory Reports | Financial Statements

Notes to the Financial statements

for the year ended March 31, 2025
(All amounts are in Indian ` in lakhs unless otherwise stated)

Note 23 : Related parties with whom transactions have taken place during the year (contd.)
Directors , Key
Associates / Enterprises Management Personnel
owned or significantly & Individuals & relatives
influenced by key of Individuals exercising
management personnel control or significant Relatives of key
or their relatives influence management personnel
March 31, March 31, March 31, March 31, March 31, March 31,
Particulars 2025 2024 2025 2024 2025 2024
- Mrs. Geetha Pushpangadhan 95.00 95.00
- Mrs. Sreeja K 5.00 5.00
- Mrs. Smitha Rajesh 7.75 7.75
- Mrs. Archana G 0.50 0.50
- Miss. Vasundhara Rajesh 3.00 3.00
ii) Interest payable on the borrowings
referred to above -
- Mrs. Sathialakshmi M 3.84 2.86
-Mr. Abhijith Unnikrishnan 7.25 4.67
- Miss Aiswarya Unnikrishnan 6.82 4.05
- Mrs. Rema Vijayan 3.15 8.80
- Mrs. Geetha Pushpangadhan 22.47 21.89
- Mrs. Sreeja K 3.79 2.90
- Mrs. Smitha Rajesh 3.97 2.81
- Mrs. Archana G 0.27 0.19
- Miss. Vasundhara Rajesh 0.38 0.05
Note:
i) Related parties have been identified on the basis of the declarations received by the management and other records
available.
ii) No amount has been provided/ written off as doubtful debts or no advances have been written back in respect of
payables due from or to any of the above related parties.

Note 24 :
Employment benefits disclosures:
During the year, following amounts have been recognised in the statement of Profit & Loss on account of defined
contribution plans
Particulars March 31, 2025 March 31, 2024
Employer's contribution to Provident Fund 241.87 225.40
Employer's contribution to Employee State Insurance 44.08 43.92
Total 285.95 269.32
Leave encashment
The present value of the obligation is determined based on actuarial valuation for leave encashment. The company
has not funded its liability and therefore the change in the plan assets and the composition of the plan assets are not
disclosed.
Gratuity liability
The Company has a defined benefit gratuity plan. Every employee who has completed five years or more of service gets a
gratuity on departure at 15 days salary (last drawn basic salary plus DA) for each completed year of service. The scheme
is funded with Life Insurance Corporation of India and Kotak Mahindra Life Insurance Company Limited.
The following tables summaries the components of net benefit expense recognized in the statement of profit and loss
and the funded status and amounts recognized in the balance sheet for the gratuity plan.
| 77
Yogakshemam Loans Limited
CIN : U65992KL1991PLC005965

Notes to the Financial statements

for the year ended March 31, 2025
(All amounts are in Indian ` in lakhs unless otherwise stated)

Note 24 : Employment benefits disclosures: (contd.)

Statement of Profit and Loss Expenses recognised in the statement of profit & Loss
March 31, 2025 March 31, 2024
Current service cost 52.81 46.84
Interest cost on benefit obligation 18.15 16.14
Expected return on plan assets (6.58) (5.45)
Past service cost - -
Net actuarial (gain)/loss recognized in the year 1.12 (5.88)
Net (benefit) / expense 65.50 51.65

Net liability /(Assets) recognised in the balance sheet

March 31, 2025 March 31, 2024
Defined benefit obligation 302.52 259.31
Fair value of plan assets (127.57) (109.86)
(Asset)/liability recognized in the balance sheet 174.95 149.45
Experience adjustments on plan liabilities (Gain) / Loss (6.44) (6.43)
Experience adjustments on plan assets Gain / (Loss) 1.22 1.74

Reconciliation of present value of the defined benefit obligation are as follows:

March 31, 2025 March 31, 2024
Opening defined benefit obligation 259.31 227.35
Interest cost 18.15 16.14
Current service cost 52.81 46.84
Benefits paid (30.18) (25.65)
Past service cost - -
Actuarial loss / (gain) on obligation 2.43 (5.37)
Closing defined benefit obligation 302.52 259.31

Reconciliation of fair value of plan assets are as follows:

March 31, 2025 March 31, 2024
Opening fair value of plan assets 109.86 88.15
Expected return 6.58 5.45
Contributions by employer 40.00 41.40
Benefits paid (30.18) (25.65)
Actuarial gains / (losses) 1.31 0.51
Closing fair value of plan assets 127.57 109.86
Expected contribution to fund to be made in the next year 50.00 50.00

Acturial Assumptions
% %
March 31, 2025 March 31, 2024
Discount rate 6.30 7.00
Withdrawal rate 20.00 20.00
Salary growth rate 5.00 5.00
Expected return on plan assets 7.00 7.10
Mortality rate IALM 2012-14 IALM 2012-14
(Ult.) (Ult.)

78 | Annual Report 2024-25

 Corporate Overview | Statutory Reports | Financial Statements

Notes to the Financial statements

for the year ended March 31, 2025
(All amounts are in Indian ` in lakhs unless otherwise stated)

Note 24 : Employment benefits disclosures: (contd.)

Percentage break-down of total plan Assets : March 31, 2025 March 31, 2024
Insurer Managed Funds (Conservative) 59% 57%
Insurer Managed Funds (Unit-linked) 41% 43%
Total 100% 100%

Experience adjustments :
2025 2024 2023 2022 2021
Present Value of DBO 302.52 259.31 227.35 215.41 199.58
Fair Value of Plan Assets 127.57 109.86 88.15 85.95 64.39
Funded Status [Surplus/ (Deficit)] (174.95) (149.45) (139.20) (129.46) (135.19)
Experience Adjustment on Plan Liabilities: (Gain) /Loss (6.44) (6.43) (2.00) (10.26) 46.82
Experience Adjustment on Plan Assets: Gain / (Loss) 1.22 1.74 (1.44) (1.75) (1.68)
i) T he fund is administered by Life Insurance Corporation of India (“LIC”) and Kotak Mahindra Life Insurance Company
Limited . The overall expected rate of return on assets is determined based on the market prices prevailing on that
date, applicable to the period over which the obligation is to be settled.
ii) The estimates of future salary increases, considered in actuarial valuation, take account of inflation, seniority,
promotion and other relevant factors, such as supply and demand in the employment market.
iii) The above disclosures are based on information certified by the independent actuary and relied upon.

Note 25 :
Lease Disclosures
(i) Operating Lease :
O ffice premises are obtained on operating lease which are cancellable in nature. Operating lease payments are
recognized as an expense in the statement of profit and loss. There are no non-cancellable leases in books as at
March 31, 2025 and as at March 31, 2024 and hence lease commitments are not disclosed.
(ii) Finance Leases:
The Company has no assets taken on finance lease, as on March 31, 2025 and as at March 31, 2024.

Note 26:
Disclosure required under MSMED Act 2006
Under the Micro, Small and Medium Enterprises Development Act, 2006 (MSMED Act), certain disclosures are required
to be made relating to dues to Micro, Small and Medium enterprises. The Company has not received any information
from suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006. Hence,
disclosures, if any, relating to amounts unpaid as at the year-end together with interest paid/payable as required under
the Act have not been given.

Note 27 : Additional disclosures as required by circular no DNBS.CC.PD.No.356/03.10.01/2013-2014 dated

September 16, 2013 issued by the Reserve Bank of India:
a) Year ended March 31, 2025
Principal Amount Interest & other charges
S. Number of outstanding at the outstanding at the dates Value
No Item description Loan Accounts dates of auctions (A) of auctions (B) Total (A+B) fetched
1 Gold Ornaments 1,392 1,086.45 222.11 1,308.56 1,454.71
2 Vehicles 844 684.74 149.93 834.67 403.96

Year ended March 31, 2024

Principal Amount Interest & other charges
S. Number of outstanding at the outstanding at the dates Value
No Item description Loan Accounts dates of auctions (A) of auctions (B) Total (A+B) fetched
1 Gold Ornaments 2,273 1,282.73 248.84 1,531.57 1,636.96
2 Vehicles 699 555.22 111.17 666.39 369.07
Note:
No sister concerns participated in the auctions during the period ended March 31, 2025 and March 31, 2024.
| 79
Yogakshemam Loans Limited
CIN : U65992KL1991PLC005965

Notes to the Financial statements

for the year ended March 31, 2025
(All amounts are in Indian ` in lakhs unless otherwise stated)

Note 28 : Additional disclosures as required by circular no RBI/2020-21/16 - DOR No BP.

BC/3/21.04.048/2020-21 Dated 6th August 2020 issued by the Reserve Bank of India
Summary of restructured assets as on March 31, 2025
a) Restructuring done during FY 2021-22 (Covid II)
Exposure to Exposure to
accounts classified accounts classified
as Standard as Standard
consequent to Of (A), consequent to
implementation aggregate debt Of (A) amount implementation of
of resolution plan that slipped Of (A) amount paid by the resolution plan –
– Position as at into NPA during written off borrowers Position as at the
Type of borrower 31.03.2024 (A) the year during the year during the year end of this year
Business loan - - - - -
Term loan 21.43 4.54 - 6.17 12.68
Vehicle loan 53.94 9.10 - 23.44 16.32
Micro loan - - - - -
Total 75.37 13.64 - 29.61 29.00

b) Restructuring done during FY 2020-21 (Covid I)

Exposure to Exposure to
accounts classified accounts classified
as Standard as Standard
consequent to Of (A), consequent to
implementation aggregate debt Of (A) amount implementation of
of resolution plan that slipped Of (A) amount paid by the resolution plan –
– Position as at into NPA during written off borrowers Position as at the
Type of borrower 31.03.2024 (A) the year during the year during the year end of this year
Business loan - - - - -
Term loan 28.00 - - 1.83 21.14
Micro loan - - - - -
Total 28.00 - - 1.83 21.14

Summary of restructured assets as on March 31, 2024

a) Restructuring done during FY 2021-22 (Covid II)
Exposure to Exposure to
accounts classified accounts classified
as Standard as Standard
consequent to Of (A), consequent to
implementation aggregate debt Of (A) amount implementation of
of resolution plan that slipped Of (A) amount paid by the resolution plan –
– Position as at into NPA during written off borrowers Position as at the
Type of borrower 31.03.2023 (A) the year during the year during the year end of this year
Business loan 2.22 - 2.11 4.07 -
Term loan 43.21 - - 28.35 21.43
Vehicle loan 184.77 43.23 12.30 191.90 53.94
Micro loan - - - - -
Total 230.20 43.23 14.41 224.32 75.37

80 | Annual Report 2024-25

 Corporate Overview | Statutory Reports | Financial Statements

Notes to the Financial statements

for the year ended March 31, 2025
(All amounts are in Indian ` in lakhs unless otherwise stated)

Note 28 : Additional disclosures as required by circular no RBI/2020-21/16 - DOR No BP. BC/3/21.04.048/2020-21 Dated
6th August 2020 issued by the Reserve Bank of India (contd.)
b) Restructuring done during FY 2020-21 (Covid I)
Exposure to Exposure to
accounts classified accounts classified
as Standard as Standard
consequent to Of (A), consequent to
implementation aggregate debt Of (A) amount implementation of
of resolution plan that slipped Of (A) amount paid by the resolution plan –
– Position as at into NPA during written off borrowers Position as at the
Type of borrower 31.03.2023 (A) the year during the year during the year end of this year
Business loan 0.13 - - 0.15 -
Term loan 48.29 8.90 - 25.03 28.00
Micro loan - - - - -
Total 48.42 8.90 - 25.18 28.00
*
In case of repayments by borrowers and exposure of restructured account, principle and interest are included

Note 29 : Gold and other loan portfolio classification and provision for non performing assets (As per RBI
Prudential Norms)
Gross Loan Outstanding Provision For Assets Net Loan Outstanding
Particulars 31-Mar-25 31-Mar-24 31-Mar-25 31-Mar-24 31-Mar-25 31-Mar-24
Secured Loans
A) Gold Loan
Standard Asset 38,594.95 34,651.20 96.49 86.78 38,498.46 34,564.41
Sub Standard Asset 2.22 14.30 0.22 1.43 2.00 12.87
Doubtful Asset 1.02 1.02 1.02 1.02 - -
Total - A 38,598.19 34,666.52 97.73 89.23 38,500.46 34,577.28

B) Term Loan
Standard Asset* 197.64 263.33 0.52 0.76 197.12 262.56
Sub Standard Asset 21.97 87.87 2.20 8.79 19.77 79.08
Doubtful Asset 234.95 208.65 181.55 156.11 53.40 52.54
Loss Asset 0.23 0.23 0.23 0.23 - -
Total - B 454.79 560.08 184.50 165.89 270.29 394.18

C) Vehicle loans
Standard Asset 7,568.67 7,904.57 19.74 22.96 7,548.93 7,881.61
Sub Standard Asset 734.38 750.02 319.00 284.34 415.38 465.69
Doubtful Asset 68.01 17.21 68.01 17.21 - -
Loss Asset - - - - - -
Total - C 8,371.06 8,671.80 406.75 324.51 7,964.31 8,347.30

Secured Total
Standard Asset* 46,361.26 42,819.10 116.75 110.50 46,244.51 42,708.58
Sub Standard Asset 758.57 852.19 321.42 294.56 437.15 557.64
Doubtful Asset 303.98 226.88 250.58 174.34 53.40 52.54
Loss Asset 0.23 0.23 0.23 0.23 - -
Total Secured (A+B+C) 47,424.04 43,898.40 688.98 579.63 46,735.06 43,318.76

| 81
Yogakshemam Loans Limited
CIN : U65992KL1991PLC005965

Notes to the Financial statements

for the year ended March 31, 2025
(All amounts are in Indian ` in lakhs unless otherwise stated)

Note 29 : Gold and other loan portfolio classification and provision for non performing assets (As per RBI Prudential
Norms) (contd.)
Gross Loan Outstanding Provision For Assets Net Loan Outstanding
Particulars 31-Mar-25 31-Mar-24 31-Mar-25 31-Mar-24 31-Mar-25 31-Mar-24
Unsecured Loans
A) Business Loan
Standard Asset* 3,138.74 3,457.75 7.85 8.71 3,130.89 3,449.04
Sub Standard Asset 57.99 75.61 57.99 75.61 - -
Doubtful Asset - - - - - -
Total - A 3,196.73 3,533.36 65.84 84.32 3,130.89 3,449.04

B) Micro Loans
Standard Asset* 710.30 2,057.09 1.78 5.15 708.52 2,051.94
Sub Standard Asset 49.22 32.74 49.22 32.74 - -
Total - B 759.52 2,089.83 51.00 37.89 708.52 2,051.94

C) Consumer Durable Loans

Standard Asset 226.78 138.49 0.57 0.35 226.21 138.15
Sub Standard Asset 9.66 1.51 9.66 1.51 - -
Total - C 236.44 140.00 10.23 1.86 226.21 138.15

D) Other Advances
Standard Asset 17.45 13.12 0.04 0.03 17.41 13.09
Total - D 17.45 13.12 0.04 0.03 17.41 13.09

Unsecured Total
Standard Asset* 4,093.27 5,666.45 10.24 14.24 4,083.03 5,652.22
Sub Standard Asset 116.87 109.86 116.87 109.86 - -
Doubtful Asset - - - - - -
Total Unsecured (A+B+C+D) 4,210.14 5,776.31 127.11 124.10 4,083.03 5,652.22
Grand Total 51,634.18 49,674.71 816.09 703.73 50,818.09 48,970.98

Summary
Gross Loan Outstanding Provision For Assets Net Loan Outstanding
Particulars 31-Mar-25 31-Mar-24 31-Mar-25 31-Mar-24 31-Mar-25 31-Mar-24
Standard Asset 50,454.53 48,485.55 126.99 124.74 50,327.54 48,360.80
Sub Standard Asset 875.44 962.05 438.29 404.42 437.15 557.64
Doubtful Asset 303.98 226.88 250.58 174.34 53.40 52.54
Loss Asset 0.23 0.23 0.23 0.23 - -
Grand Total 51,634.18 49,674.71 816.09 703.73 50,818.09 48,970.98
* Standard Assets includes assets restructured under Circular RBI/2020-21/16 - DOR No BP.BC/3/21.04.048/2020-21 dated August 6, 2020 issued by
the Reserve Bank of India .

82 | Annual Report 2024-25

 Corporate Overview | Statutory Reports | Financial Statements

Notes to the Financial statements

for the year ended March 31, 2025
(All amounts are in Indian ` in lakhs unless otherwise stated)

Note 30 : Employee Stock option plans

The Company has provided share-based payment schemes to its employees. During the year ended March 31, 2025, the
Yog Loans ESOP 2015 scheme was in operation. The relevant details of the scheme and the grant are as below:

Date of grant 19-Aug-15

Date of board approval 19-Aug-15
Number of options granted 11,00,000
Method of settlement (Cash/Equity) Equity
Exercise price ` 10 per share
Vesting period Grant vesting over a 5 year period in the following manner
• Year 1 –20% of the granted options
• Year 2 - 20% of the granted options
• Year 3 –20% of the granted options
• Year 4 –20% of the granted options
• Year 5 –20% of the granted options
Vesting conditions Performance of the employees and/ or such other criteria as it may be
deemed fit
Exercise period Within a period 36 months from the date of each vesting or an
extended period
The details of activity under the scheme is summarised below :

April 1, 2024 - March 31, 2025 April 1, 2023 - March 31, 2024
Particulars Number of shares Exercise price Number of shares Exercise price
Outstanding at the beginning of the year 68,000 10 1,60,000 10
Granted during the year - - - -
Forfeited during the year - - - -
Exercised during the year - - - -
Expired during the year 24,000 10 92,000 10
Outstanding at the end of the year 44,000 10 68,000 10
Exercisable at the end of the year 44,000 10 58,000 10

Note 31 : Additional disclosures as required by Master Direction – Reserve Bank of India (Non-Banking
Financial Company – Scale Based Regulation) Directions, 2023
March 31, 2025 March 31, 2024
Total Gold loan portfolio 38,598 34,666.52
Total Assets 58,476 55,576.46
Gold loan portfolio as a percentage of total assets 66.01% 62.38%

Note 32 : Expenditure in foreign currency : During FY 2024-25, the Company had not incurred any foreign
currency expenditure.
Note 33 : Dividend remittance in foreign currency : During FY 2024-25, the Company had not remitted any dividend
in foreign currency.
Note 34 : Value of imports on C.I.F basis : During FY 2024-25, the Company does not have any value of
imports on C.I.F basis.

| 83
Yogakshemam Loans Limited
CIN : U65992KL1991PLC005965

Notes to the Financial statements

for the year ended March 31, 2025
(All amounts are in Indian ` in lakhs unless otherwise stated)

Note 35 : Contingent liabilities and commitments (to the extent not provided for in the accounts)
Particulars March 31, 2025 March 31, 2024
(i) Contingent liabilities:
(a) Claims against the company not acknowledged as debt; - -
(b) Guarantees - -
(c) Other money for which the company is contingently liable. - -
(ii) Commitments:
(a) Estimated amount of contracts remaining to be executed on capital - 27.23
account and not provided for;
(b) Uncalled liability on shares and other investments partly paid; - -
(c) Other commitments. - -

Note 36 : Utilisation of Borrowed funds

The Company, as part of its normal business, grants loans and advances, accept borrowings from its customers, other
entities and persons. These transactions are part of Company’s normal non-banking finance business, which is conducted
ensuring adherence to all regulatory requirements.
No funds have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources
or kind of funds) by the Company to or in any other persons or entities, including foreign entities (“Intermediaries”) with
the understanding, whether recorded in writing or otherwise, that the Intermediary shall lend or invest in party identified
by or on behalf of the Company (Ultimate Beneficiaries). The Company has also not received any fund from any parties
(Funding Party) with the understanding that the Company shall whether, directly or indirectly lend or invest in other
persons or entities identified by or on behalf of the Funding Party (“Ultimate Beneficiaries”) or provide any guarantee,
security or the like on behalf of the ultimate beneficiaries.

Note 37 : Details of CSR Expenses

Particulars March 31, 2025 March 31, 2024
(a) amount required to be spent during the year, 17.00 19.06
(b) amount of expenditure incurred,
i) Construction / acquisition of any assets - -
ii) On purposes other than (i) above 17.00 19.06
(c) shortfall at the end of the year, Nil Nil
(d) total of previous years shortfall, Nil 1.44
(e) reason for shortfall, NA NA
(f) nature of CSR activities,
i) Promoting health care including preventive health care 4.75 2.85
ii) Promoting education,including special education and employment 6.00 12.01
enhancing vocation skill especially among children,women,elderly
and differently abled and livelihood enhancement projects.
iii) Setting up of oldage homes,daycares centres and such other 6.00 3.00
facilities for senior citizens and mesures for reducing inequalities
faced by socially and economically backward groups
iv) Eradicating hunger poverty and malnutrition - 1.20
v) Financial support for training rural sports and nationally recognised 0.25 -
sports.
vi) Contribution to Prime Ministers National Relief Fund* - 1.44
Total 17.00 20.50
(g) details of related party transactions, e.g., contribution to a trust Nil Nil
controlled by the company in relation to CSR expenditure as per
relevant Accounting Standard,
*
Shortfall of FY 2022-23, ` 1.44 Lakhs has been transferred to Prime Minister’s National Relief Fund during June 2023

84 | Annual Report 2024-25

 Corporate Overview | Statutory Reports | Financial Statements

Notes to the Financial statements

for the year ended March 31, 2025
(All amounts are in Indian ` in lakhs unless otherwise stated)

Note 38 : Analytical ratios

As at As at Reason for
March 31, March 31, % variance /
Particulars Units Numerator Denominator 2025 2024 Variance remarks
1) Current Ratio : No of times 50,565.57 27,269.57 1.85 2.01 (7.96)
(Current Assets / Current
Liabilities)
2) Leverage or Debt Equity No of times 47,900.04 8,733.55 5.48 5.77 (5.02)
Ratio
(Outside liabilities / Owned
fund)
3) Return on Equity Percentage 1,028.13 8,851.43 11.61 9.20 26.19 Due to
improved
returns
(Net profit after tax / Avg
shareholders equity)
4) Net Profit ratio Percentage 1,028.13 13,044.59 7.88 6.47 21.79
(Net profit after tax / Total
Income)
5) Return on capital Percentage 6,984.16 55,467.08 12.59 11.44 10.05
employed
(Earnings before interest &
taxes / Capital employed)
6) Net Capital Turnover NA NA NA NA NA NA Refer note
ratio 38.1
7) Debt service coverage NA NA NA NA NA NA Refer note
ratio 38.1
8) Inventory turnover ratio NA NA NA NA NA NA Refer note
38.1
9) Trade receivable NA NA NA NA NA NA Refer note
turnover ratio 38.1
10) Trade payable turnover NA NA NA NA NA NA Refer note
ratio 38.1
11) Return on Investments NA NA NA NA NA NA

Note 38.1 The company is an NBFC, these ratios are not applicable since the same will not give correct results.

Note 39: Registration of charges or satisfaction with Registrar of Companies (ROC)

All charges or satisfaction are registered with ROC within the statutory period for the financial years ended March 31,
2025 and March 31, 2024. No charges or satisfactions are yet to be registered with ROC beyond the statutory period.

Note 40: Compliance with number of layers of companies

The Company has complied with the number of layers prescribed under clause (87) of section 2 of the Act read with
Companies (Restriction on number of Layers) Rules, 2017 for the financial years ended March 31, 2025 and March 31,
2024

Note 41: Undisclosed income

The Company has no transaction which is not recorded in the books of accounts that has been surrendered or disclosed
as income during the year in the tax assessments under the Income Tax Act, 1961 (such as, search or survey or any other
relevant provisions of the Income Tax Act, 1961).

| 85
Yogakshemam Loans Limited
CIN : U65992KL1991PLC005965

Notes to the Financial statements

for the year ended March 31, 2025
(All amounts are in Indian ` in lakhs unless otherwise stated)

Note 42: Title deeds of Immovable Properties not held in name of the Company
The Company does not possess any immovable property (other than properties where the Company is the lessee and the
lease agreements are duly executed in favour of the lessee) whose title deeds are not held in the name of the Company
during the financial year ended March 31, 2025 and March 31, 2024.

Note 43: Details of Crypto Currency or Virtual Currency

The Company has not traded or invested in Crypto currency or Virtual currency during the financial years ended March
31, 2025 and March 31, 2024.

Note 44: Details of Benami Property Held

No proceedings have been initiated or pending against the Company for holding any benami property under the Benami
Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made thereunder in the financial years ended March 31, 2025
and March 31, 2024.

Note 45: Wilful Defaulter

The Company has not been declared as a wilful defaulter by any bank or financial institution or other lender in the
financial years ended March 31, 2025 and March 31, 2024.

Note 46: Submission of statements to banks

The company has availed credit facilities from bank and financial institutions during the current year with the
hypothecation of assets under finance, book debts, other receivables and margin money deposits as stated in Note 5 &
Note 7. The quarterly returns or statements of current assets filed by the Company with said financial institutions are,
with all material respects, in agreement with the books of accounts.

Note 47: Frauds

During the financial year 2024-25, below listed frauds were identified by the company
Sl Amount involved Recovered Written off
No Details of fraud identified (` in Lakhs) (` in lakhs) (` in lakhs) Status
1 Theft gold pledge by customer 1.00 0.62 0.38 Partial recovery and
balance written off
2 Spurious gold pledged by 14.29 2.56 11.73 Partial recovery and
customers balance written off
3 Non acceptable ornaments 21.03 10.21 10.82 Partial recovery and
balance written off
4 Siphoning of cash 7.91 2.20 5.71 Partial recovery and
balance written off
Total 44.23 15.59 28.64

Note 48: Relationship with Struck off Companies

Company has not entered into any transactions with companies whose names have been struck off under section 248
of Companies Act, 2013 or section 560 of Companies Act, 1956 in the financial years ended March 31, 2025 and March
31, 2024, considering the information available with the Company.

Note 49: Segment information

The Company operates in a single business segment i.e., lending which have similar risks and returns for the purpose of AS
17 on ‘Segment Reporting’ specified under section 133 of the Companies Act 2013, read with relevant rules thereunder.
The Company operates in a single geographical segment i.e., domestic.

86 | Annual Report 2024-25

 Corporate Overview | Statutory Reports | Financial Statements

Notes to the Financial statements

for the year ended March 31, 2025
(All amounts are in Indian ` in lakhs unless otherwise stated)

Note 50 : Additional disclosures as required by Master Direction – Reserve Bank of India (Non-Banking
Financial Company – Scale Based Regulation) Directions, 2023
A) Exposure
1) Exposure to real estate sector
Category Current year Previous Year
i) Direct exposure
a) Residential Mortgages –
Lending fully secured by mortgages on residential property that
is or will be occupied by the borrower or that is rented. Exposure
would also include non-fund based (NFB) limits.
Nil Nil
b) Commercial Real Estate –
Lending secured by mortgages on commercial real estate
(office buildings, retail space, multipurpose commercial
premises, multifamily residential buildings, multi tenanted
commercial premises, industrial or warehouse space, hotels,
land acquisition, development and construction, etc.). Exposure
would also include non-fund based (NFB) limits.
Nil Nil
c) Investments in Mortgage-Backed Securities (MBS) and other Nil Nil
securitized exposures –
i. Residential
ii. Commercial Real Estate
ii) Indirect Exposure
Fund based and non-fund-based exposures on National Housing Nil Nil
Bank and Housing Finance Companies.
Total Exposure to Real Estate Sector Nil Nil

2) Exposure to capital market - Nil

3) Sectoral exposure
As on March 31,2025 As on March 31,2024
Total Exposure Percentage Total Exposure Percentage
(includes on of Gross (includes on of Gross
balance sheet NPAs to total balance sheet NPAs to total
and off-balance Gross exposure in and off-balance Gross exposure in
Sectors sheet exposure) NPAs that sector sheet exposure) NPAs that sector
1. A
 griculture and Allied - - - - - -
Activities
2. Industry - - - - - -
3. Services - - - - - -
4. Personal Loans
i) - Loan against Gold 48,505.73 3.24 0.01 38,799.30 15.32 0.04
ii) - Term loans 454.79 257.15 56.54 560.08 296.75 52.98
iii) - Business loans 3,196.72 57.99 1.81 3,533.36 75.61 2.14
iv) - Micro Loans 759.53 49.22 6.48 2,089.84 32.74 1.57
v) - Vehicle loans 8,371.07 802.40 9.59 8,671.81 767.23 8.85
Total of Personal Loans 61,287.84 1,170.00 1.90 53,654.39 1,187.65 2.21
5. Others - Staff Loan, 253.89 9.66 3.81 153.13 1.51 0.99
Trade advance & CD
loan

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Yogakshemam Loans Limited
CIN : U65992KL1991PLC005965

Notes to the Financial statements

for the year ended March 31, 2025
(All amounts are in Indian ` in lakhs unless otherwise stated)

Note 50 : Additional disclosures as required by Master Direction – Reserve Bank of India (Non-Banking Financial
Company – Scale Based Regulation) Directions, 2023 (contd.)

4) Intra-group exposures - Nil, (Prev year - Nil)

5) Unhedged foreign currency exposure - Nil, (Prev year - Nil)
B) Related Party Disclosure Pl see note 23 on Related Party Transactions
C) Disclosure of complaints

1) Summary information on complaints received by the NBFCs from customers and from the Offices of Ombudsman
Sr.
No Particulars FY 2024-25 FY 2023-24
Complaints received by the NBFC from its customers
1 Number of Complaints pending at beginning of the year Nil Nil
2 Number of Complaints received during the year 10 10
3 Number of Complaints disposed during the year 10 10
3.1 Of which,number of complaints rejected by NBFC 3 2
4 Number of Complaints pending at the end of the year Nil Nil
Maintainable complaints received by the NBFC from office of Ombudsman
5* Number of maintainable complaints received by the NBFC 6 3
from office of Ombudsman
5.1 Of 5,number of Complaints resolved in favour of the NBFC by
# 6 3
office of Ombudsman
5.2 Of 5,number of complaints resolved through conciliation/ Nil Nil
mediation/advisories issued by office of Ombudsman
5.3 Of 5,number of complaints resolved after passing of Awards Nil Nil
by office of Ombudsman against the NBFC
6 *
Number of Awards unimplemented within the stipulated Nil Nil
time(other than those appealed)
Note: Maintainable complaints refer to complaints on the grounds specifically mentioned in Integrated
Ombudsman Scheme,2021(Previously The Ombudsman Scheme for Non Banking Financial Companies,2018)
and covered within the ambit of the Scheme.
*
It shall only be applicable to NBFCS which are included under The Reserve Bank -Integrated Ombudsman Scheme,2021
#
Cases mentioned in 5.1 is resolved by the company and reply filed to Ombudsman’s Office.No orders have been issued by Ombudsman.

2) Top five grounds of complaints received by the NBFCs from customers

Number of %increase/decrease Number of Of 5,number
Complaints Number of in the number of Complaints of complaints
Grounds of pending at the Complaints complaints received pending at pending
Complaints,i.e beginning of received during over the previous the end of the beyond 30
complaints relating to the year the year year year days.
1 2 3 4 5 6
Current Year (2024-25)
Loans & Advances Nil 4 -56% Nil Nil
Staff Related Nil 3 200% Nil Nil
Total 7 -30%
Previous Year (2023-24)
Loans & Advances Nil 9 -10% Nil Nil
Staff Related Nil 1 -50% Nil Nil
Total 10 -23%

88 | Annual Report 2024-25

 Corporate Overview | Statutory Reports | Financial Statements

Notes to the Financial statements

for the year ended March 31, 2025
(All amounts are in Indian ` in lakhs unless otherwise stated)

Note 51 : Additional disclosures as required by Master Direction – Reserve Bank of India (Non-Banking
Financial Company – Scale Based Regulation) Directions, 2023
i) Funding Concentration based on significant counterparty (both deposits and borrowings)
Sr
No. Number of Significant Counterparties Amount ` in Lakhs % of Total deposits % of Total Liabilities
1 - - NA -

(ii) Top 20 large deposits (amount in ` Lakhs and % of total deposits): Not Applicable
(iii) Top 10 borrowings (amount in ` Lakhs and % of total borrowings)

Amount in ` Lakhs 19,541.57

% of total borrowings 42.91%

(iv) Funding Concentration based on significant instrument/product:

31-Mar-25 31-Mar-24
Sr Amount % of Total Amount % of Total
No Name of the instrument/product (` Lakhs) Liabilities (` Lakhs) Liabilities
1 Secured Redeemable Non Convertible Debentures 8,757.65 17.79% 8,143.66 17.28%
2 Unsecured Subordinated debts 8,289.88 16.84% 7,864.11 16.69%
3 Borrowings from Banks & FI’s 28,492.65 57.89% 27,872.11 59.14%
Total 45,540.18 92.52% 43,879.88 93.11%

(v) Stock ratios

a) Commercial Papers - NIL
b) Non convertible debentures (original maturity of less than one year) - NIL
c) Other short term liabilities
- As a percentage of total public funds 59.88%
- As a percentage of total liabilities 55.40%
- As a percentage of total Assets 46.63%
S ignificant counterparty is as defined in RBI Circular RBI/2019-20/88 DOR.NBFC (PD) CC.No.102/03.10.001/2019-20
dated November 4, 2019 on Liquidity Risk Management Framework for Non-Banking Financial Companies
and Core Investment Companies as a single counterparty or group of connected or affiliated counterparties
accounting in aggregate for more than 10% of total liabilities for other non-deposit taking NBFCs
S ignificant instrument/product is as defined in RBI Circular RBI/2019-20/88 DOR.NBFC (PD)
CC.No.102/03.10.001/2019-20 dated November 4, 2019 on Liquidity Risk Management Framework for Non-
Banking Financial Companies and Core Investment Companies as a single instrument/product of group of similar
instruments/products which in aggregate amount to more than 10% of total liabilities for other non-deposit
taking NBFCs
Total Liabilities has been computed as sum of all liabilities (Balance Sheet figure) less Equities and Reserves/
Surplus.
Other short term liabilities have been computed as sum of all current liabilities
 ublic funds are as defined in Master Direction - Non-Banking Financial Company - Systemically Important
P
Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Direction, 2016 and accordingly its
has been computed as total of all borrowings.
(vi) Institutional set up on liquidity risk management
The Board is having the overall responsibility for management of liquidity risk. It has the responsibility to put in place
the Governance structure for effective liquidity risk management. The Board has put in place a Policy on Liquidity

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Yogakshemam Loans Limited
CIN : U65992KL1991PLC005965

Notes to the Financial statements

for the year ended March 31, 2025
(All amounts are in Indian ` in lakhs unless otherwise stated)

Note 51 : Additional disclosures as required by Master Direction – Reserve Bank of India (Non-Banking Financial
Company – Scale Based Regulation) Directions, 2023 (contd.)
Risk Management in line with the guidelines issued by Reserve Bank of India (RBI) in this respect. The Board has also
put in place a Resource Mobilisation Policy and an Investment Policy to guide executive management in diversifying
resources and investment of surplus.
The Board has constituted a Risk Management Committee of the Board and also an Asset Liability Management
Committee (ALCO) comprising of senior functionaries of the executive management Chaired by MD&CEO. The
ALCO shall meet once in a month or as and when required to review the overall liquidity position, movement of
market rate and to review of interest rates. The Risk Management Committee, which reviews all risks related to
the Company, meets twice in a year and reviews the ALCO Minutes. The liquidity position is also presented to the
Audit Committee on a quarterly basis. Minutes of Risk Management Committee and Audit Committee are reviewed
by the Board at its subsequent meeting.

Note 52 : Compliance relating to audit trail on accounting software used by the company
As required under the Companies (Audit and Auditors) Amendment Rules, 2021, read with sub-section 3 of Section 143
of the Companies Act, 2013 which was effective from 1st April 2023, the Company has used own accounting software for
maintaining its books of account for the financial year ended March 31, 2025 which has a feature of recording audit trail
(edit log) facility and the same has operated throughout the year for all relevant transactions recorded in the software
except that audit trail feature was not enabled at the database level to log any direct data changes, wherein adequate
controls have been deployed to monitor the direct data changes effected at the data base level. Further, as required
under proviso to Rule 3(1) of the Companies (Accounts) Rules, 2014, the audit trail has been preserved by the company
as per the statutory requirements for record retention.

Note 53 : Previous year figures

Previous year figures have been regrouped/reclassified, where necessary, to conform to current year’s classification.

As per our report of even date

For ASA & Associates LLP. For and on behalf of the board of directors of
Chartered Accountants YOGAKSHEMAM LOANS LIMITED
ICAI Firm registration number : 009571N/N500006
GN Ramaswami I. Unnikrishnan N. D. Vijayan
Partner Managing Director Director
Membership no: 202363 DIN: 01773417 DIN: 03396044
Place: Chennai Prasad P. RajeshKumar K. Pillai
Date : 16th June 2025 Chief Financial Officer Company Secretary
M.No: F9182
Place: Thrissur
Date : 16th June 2025

90 | Annual Report 2024-25

 Corporate Overview | Statutory Reports | Financial Statements

Yogakshemam Loans Limited

Schedule to the balance sheet of a non-deposit taking, non-banking financial company
(as required in terms of paragraph 13 of Non-Banking Financial (Non- Deposit Accepting or Holding)
Companies Prudential Norms (Reserve Bank) Directions, 2007)
(All amounts are in Indian Rupees in Lakhs, unless otherwise stated)

Liabilities side:
Sl Amount Amount
No Particulars Outstanding Overdue #
(1) Loans and advances availed by the non-banking financial company inclusive of
interest accrued thereon but not paid:
(a) Debentures : Secured 8,757.65 11.68
: Unsecured - -
(other than falling within the meaning of public deposits*)
(b) Deferred Credits - -
(c) Term Loans from Banks 22,939.84 -
(d) Inter-corporate loans and borrowing - -
(e) Commercial Paper - -
(f) Other Loans:
Subordinated debts (Unsecured) 8,289.88 64.58
Working capital facilities from Banks (Secured) 5,552.80 -
Others - -

* Please see Note 1 below

Subordinated
# details of overdue amount Debentures debts Remarks
Monthly interest for March 2025 1.28 49.31 Paid in April 2025
Matured & Unclaimed 10.40 11.00
Interest on matured & unclaimed - 4.27
Total overdue 11.68 64.58 -

Assets side :
Amount
Sl No Particulars Outstanding
(2) Break-up of Loans and Advances including bills receivables [other than those included in (4)
below] :
(a) Secured 47,424.04
(b) Unsecured 4,210.14

(3) Break up of Leased Assets and stock on hire and other assets counting towards AFC activities
(i) Lease assets including lease rentals under sundry debtors: -
(a) Financial lease -
(b) Operating lease -
(ii) Stock on hire including hire charges under sundry debtors: -
(a) Assets on hire -
(b) Repossessed Assets -
iii) Other loans counting towards AFC activities -
(a) Loans where assets have been repossessed -
(b) Loans other than (a) above -
(4) Break-up of Investments:

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Yogakshemam Loans Limited
CIN : U65992KL1991PLC005965

Amount
Sl No Particulars Outstanding
Current Investments:
1 Quoted :
(i) Shares : (a) Equity -
(b) Preference -
(ii) Debentures and Bonds -
(iii) Units of mutual funds -
(iv) Government Securities -
(v) Others -
2 Unquoted :
(i) Shares : (a) Equity -
(b) Preference -
(ii) Debentures and Bonds -
(iii) Units of mutual funds -
(iv) Government Securities -
(v) Others -

Long-term Investments:
1 Quoted :
(i) Shares : (a) Equity -
(b) Preference -
(ii) Debentures and Bonds -
(iii) Units of mutual funds -
(iv) Government Securities -
(v) Others -
2 Unquoted :
(i) Shares : (a) Equity -
(b) Preference -
(ii) Debentures and Bonds -
(iii) Units of mutual funds -
(iv) Government Securities -
(v) Others -

(5) Borrower group-wise classification of assets financed as in (2) and (3) above:
Please see Note 2 below
Amount
Sl No Category Secured Unsecured Total
1. Related Parties **
(a) Subsidiaries - - -
(b) Companies in the same group - - -
(c) Other related parties - - -

2. Other than related parties 47,424.04 4,210.14 51,634.15

Total 47,424.04 4,210.14 51,634.15
** As per Accounting Standard of ICAI (please see Note 3)

92 | Annual Report 2024-25

 Corporate Overview | Statutory Reports | Financial Statements

(6) Investor group-wise classification of all investments (current and long term) in
shares and securities (both quoted and unquoted):
Please see note 3 below
Market
Value /
Break up Book Value
or fair value (Net of
Category or NAV Provisions)
1. Related Parties **
(a) Subsidiaries - -
(b) Companies in the same group - -
(c) Other related parties - -

2. Other than related parties - -

Total - -

(7) Other Information:

Amount
outstanding
(i) Gross Non-Performing Assets
(a) Related parties -
(b) Other than related parties 1,179.66

(ii) Net Non-Performing Assets

(a) Related parties -
(b) Other than related parties 490.56
Assets acquired in satisfaction of debt -

Notes:
1. As defined in Non-Banking Financial Companies Acceptance of Public Deposits (Reserve Bank) Directions, 2016.
2. Provisioning norms shall be applicable as prescribed in the Non-Banking Financial (Non Deposit Accepting or
Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007.
All Accounting Standards and Guidance Notes issued by ICAI are applicable including for valuation of investments and
other assets as also assets acquired in satisfaction of debt. However, market value in respect of quoted investments
and break up/fair value/NAV in respect of unquoted investments should be disclosed irrespective of whether they are
classified as long term or current in (4) above.

For and on behalf of the board of directors of

YOGAKSHEMAM LOANS LIMITED

I. Unnikrishnan N. D. Vijayan
Managing Director Director
DIN: 01773417 DIN: 03396044
Prasad P. RajeshKumar K. Pillai
Chief Financial Officer Company Secretary
M.No: F9182
Place: Thrissur
Date : 16th June 2025

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