CANFINHOME2020-04-012020-06-30in-bse-fin:OneOperatingExpenses01Member iso4217:INRxbrli:purexbrli:sharesiso4217:INRxbrli:shares CANFINHOME 2020-04-01 2021-03-31 2020-08-17 INR Lakhs First quarter Single segment HOUSING FINANCE 2020-04-01 2020-06-30 Unaudited Standalone 5225044000.00 0.00 5225044000.00 0.00 0.00 0.00 138004000.00 3308251000.00 23070000.00 44246000.00 3964564000.00 1260480000.00 0.00 1260480000.00 412669000.00 -83740000.00 328929000.00 931551000.00 0.00 0.00 0.00 0.00 931551000.00 -2032000.00 929519000.00 0.00 0.00 266331000.00 2 7.00 7.00 0.00 0.00 7.00 7.00 0.08 0.00 0.01 1. As required by Ind AS 109, the company has developed a model to calculate expected credit losses (ECL). Summary results from this model indicate that the company is carrying provisions in excess of its requirements. The Company is required to provide provisions as per prudential norms prescribed by NHB. The provisions held as per NHB norms are in excess of the provision required as per the ECL model. n n2. The Company's main business is to provide loans for the purchase and construction of residential houses. The Company is also involved in the corporate insurance agency business activity; however it is not a separate reportable segment as per the Ind AS 108 “Operating Segments”, specified under Section 133 of the Companies Act, 2013. As such there is no reportable segment(s), as per the IND AS Operating Segments specified under section 133 of the Companies Act, 2013. n n3. The Company has maintained 100% Asset Cover on its secured redeemable non-convertible debentures as on June 30, 2020 (floating charge on hypothecation of book debts and receivables). That proceeds of the NCDs are used for the objects that were stated in the offer document(s). n n4. The Statutory Auditors of the Company have carried out a limited review of the financial results for the quarter ended June 30, 2020 in compliance of Reg.33 of SEBI (LODR) Regulations, 2015. The above financial results have been reviewed and recommended by the Audit Committee of Directors and subsequently approved by the Board of Directors at its meeting held on August 25, 2020. n n5. The world witnessed the outbreak of the novel Corona Virus (Covid-19), an infectious disease which World Health Organisation declared as a global pandemic. The disease engulfed the entire globe, leading to loss of human lives in millions and economic losses in trillions. India responded to this crisis with a nationwide lockdown with effect from March 24, 2020 which continues in major cities across the country with gradual withdrawal of lockdown and partial resumption of economic activities. n nThe extent to which this pandemic will impact the business and financial results of the Company, at this point of time, depends on future developments which are, highly uncertain. n nIn accordance with the RBI guidelines relating to COVID-19 Regulatory Package dated March 27, 2020, April 17, 2020, May 23, 2020 and clarification issued by RBI to Indian Bankers Association dated May 6, 2020 the Company has offered moratorium on the payment of instalments falling due between March 1, 2020 to August 31, 2020 to eligible borrowers. The moratorium period, has been excluded from the number of days past-due for the purpose of asset classification under Regulatory Income Recognition and Asset Classification norms (IRAC) as of June 30, 2020. n nAs on June 30,2020, Company holds a provision of Rs. 7,289.45 lakhs, which is more than the requirement as per the aforesaid RBI Circulars on 'COVID-19 Regulatory Package. n n6. In the Board meeting held on June 15, 2020, the Board of Directors had recommended a dividend of Rs 2 per share subject to approval of the shareholders at the Annual General Meeting. n n7. Pursuant to Taxation Laws (Amendment) Ordinance 2019, dated September 20, 2019, the Company opted u/s 115BAA of the Income Tax Act, 1961 to compute Income tax at the rate (i.e., 25.17%) from the financial year 2019-20 (second quarter onwards). The tax expense for the quarter and year ended March 31, 2020 is after considering the impact of revised tax rates. n n8. The figures have been re-grouped wherever necessary. Other Expenses 44246000.00