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iso4217:INRxbrli:purexbrli:sharesiso4217:INRxbrli:shares 532922 EDELWEISS NotListed Edelweiss Financial Services Limited Equity 2023-04-01 2024-03-31 2023-11-10 2023-11-01 INR Crores Half yearly 2023-11-10 11:00:00 2023-11-10 13:00:00 true Cash Flow Indirect Not applicable Multi segment 2023-07-01 2023-09-30 Unaudited Consolidated 7642800000.00 90900000.00 0.00 2619200000.00 5823300000.00 0.00 0.00 0.00 5381400000.00 21557600000.00 91700000.00 21649300000.00 0.00 0.00 0.00 2697100000.00 6619000000.00 307400000.00 0.00 0.00 0.00 -138600000.00 11100800000.00 20585700000.00 1063600000.00 0.00 1063600000.00 409300000.00 -295000000.00 114300000.00 949300000.00 0.00 0.00 0.00 0.00 949300000.00 6300000.00 955600000.00 759500000.00 189800000.00 761300000.00 194300000.00 898500000.00 1 0.85 0.85 0.00 0.00 0.85 0.85 0.00 0.00 0.00 1. The consolidated financial results of Edelweiss Financial Services Limited ('EFSL' or 'the Company') and its subsidiaries and trusts (together referred as 'Group') for the quarter and half year ended 30 September 2023 have been reviewed and recommended by the Audit Committee and approved by the Board of Directors at their respective meetings held on 10 November 2023. 2. The consolidated financial results of EFSL for the quarter and half year ended 30 September 2023 have been subjected to limited review by the Statutory Auditors of the Company and the auditors have issued an unmodified review report. 3. Earnings per share for the quarters and half years ended are not annualised. 4. During the quarter ended 30 September 2023, the Company has issued 79,750 equity shares of face value of Rs. 1 each to the eligible employees on exercise of employee stock options. 5. Two Employee Welfare Trust(s) hold an aggregate 4,48,96,780 equity shares of the Company for incentive and welfare benefits for group employees as per extant applicable SEBI regulations. Pursuant to the exercise of right available under Regulation 29 of SEBI (Share Based Employee Benefits) Regulations, 2014, the Company has applied before the expiry date of 27 October 2019 for extension of the time limit for disposing of aforesaid equity shares. The said application is under consideration and approval for extension from SEBI is awaited as at date. 6. During the quarter and half year ended 30 September 2023, three subsidiaries of the Company had sold certain financial assets amounting to Rs. Nil crores and Rs. 1,004.18 crores (net of provisions) respectively to various asset reconstructions company trusts (‘ARC Trusts’) and acquired security receipts (SR) amounting to Rs. Nil crores and Rs. 561.12 crores respectively from these ARC Trusts. Ind AS 109 – ‘Financial Instruments’, prescribed under section 133 of the Companies Act, 2013, requires substantially all risks and rewards to be transferred for the purpose of de-recognition of such financial assets from these subsidiaries financial results. The Company had undertaken substantially all risks and rewards in respect of such financial assets. As a result, these financial assets were de-recognized in the subsidiaries financial results. Based on assessment of probability of default, loss given default in respect of these financial assets (i.e. sold during the half year ended 30 September 2023 and in earlier years) and in light of various factors viz. exposures to certain sectors and assessment of credit and market risks for certain counter parties relative to such risks at initial recognition, the Group has recorded charge due to change in valuation of POCI loans of Rs. 120 crores and Rs. 264.42 crores (net) for the quarter and half year ended respectively and is included in “Change in valuation of credit impaired loans”. 7. The Income Tax Authorities (the Department) conducted a search under section 132 of the Income Tax Act, 1961 on the premises of the Company and its certain subsidiaries during March 2023. The Company and its subsidiaries are in the process of filling necessary responses to the re-assessment notices received from the Department on the said matters. Basis current internal assessment, management is of the view that this will not have any material impact on the consolidated financial results for the quarter and half year ended 30 September 2023. Multi segment 2023-04-01 2023-09-30 Unaudited Consolidated 13919000000.00 189700000.00 0.00 6574700000.00 11988400000.00 0.00 0.00 0.00 8672200000.00 41344000000.00 260000000.00 41604000000.00 0.00 0.00 0.00 5010100000.00 13416500000.00 606600000.00 0.00 0.00 0.00 -370800000.00 21638200000.00 40300600000.00 1303400000.00 0.00 1303400000.00 960100000.00 -1383500000.00 -423400000.00 1726800000.00 0.00 0.00 0.00 0.00 1726800000.00 305000000.00 2031800000.00 1264900000.00 461900000.00 1490200000.00 541600000.00 898500000.00 1 1.41 1.41 0.00 0.00 1.41 1.41 0.04 0.00 0.01 Other operating income 36500000.00 Premium from insurance business 5344900000.00 Other operating income 77500000.00 Premium from insurance business 8594700000.00 Change in insurance policy liability - actuarial 3371600000.00 Change in valuation of credit impaired loans 1561900000.00 Other expenses 3757400000.00 Policy benefits paid 2409900000.00 Change in insurance policy liability - actuarial 6644000000.00 Change in valuation of credit impaired loans 3129200000.00 Other expenses 7471700000.00 Policy benefits paid 4393300000.00 27090700000.00 9960200000.00 1631100000.00 2660200000.00 171368900000.00 121328000000.00 31030400000.00 365069500000.00 0.00 9124600000.00 13566000000.00 1459700000.00 9749000000.00 18400000.00 359500000.00 236600000.00 1253500000.00 10466300000.00 46233600000.00 411303100000.00 898500000.00 43149800000.00 55466700000.00 1100000.00 15244300000.00 153788500000.00 36963300000.00 16700000.00 11141400000.00 56395300000.00 273550600000.00 282100000.00 665000000.00 1893300000.00 79445400000.00 82285800000.00 411303100000.00 Agency business 2017900000.00 Asset reconstruction business 6523000000.00 Capital business 3861400000.00 Insurance business 7686500000.00 Treasury business 1468400000.00 Unallocated 92100000.00 Agency business 3853400000.00 Asset reconstruction business 10966100000.00 Capital business 8717500000.00 Insurance business 14659700000.00 Treasury business 3219400000.00 Unallocated 187900000.00 21649300000.00 41604000000.00 21649300000.00 41604000000.00 Agency business 512000000.00 Asset reconstruction business 1567100000.00 Capital business -272200000.00 Insurance business -918500000.00 Treasury business 314100000.00 Unallocated -138900000.00 Agency business 595000000.00 Asset reconstruction business 2680500000.00 Capital business -565600000.00 Insurance business -1582400000.00 Treasury business 480100000.00 Unallocated -304200000.00 1063600000.00 1303400000.00 1063600000.00 1303400000.00 Agency business 17087100000.00 Asset reconstruction business 76848500000.00 Capital business 170654100000.00 Insurance business 92112400000.00 Treasury business 30688400000.00 Unallocated 23912600000.00 411303100000.00 Agency business 8987200000.00 Asset reconstruction business 47078200000.00 Capital business 185990100000.00 Insurance business 83757200000.00 Treasury business 27682500000.00 Unallocated 2341200000.00 355836400000.00 The Company has prepared its consolidated segment reporting which represent its business lines such as, Agency business, Capital business, Asset reconstruction business, Insurance and Treasury business. Agency business includes advisory and other fee based businesses; Capital business represents lending business and investment activities; Asset reconstruction business represents purchase and resolution of distress assets; Insurance business represents life insurance business and general insurance business. Treasury business represents income from trading activities. Remeasurement gain / loss on defined benefit plans (OCI) -700000.00 Remeasurement gain / loss on defined benefit plans (OCI) -1900000.00 -700000.00 -1900000.00 0.00 0.00 Fair value gain/loss - debt -81500000.00 FCTR 88300000.00 Deferred tax 200000.00 Fair value gain/loss - debt 267700000.00 FCTR 38800000.00 Deferred tax 400000.00 7000000.00 306900000.00 0.00 0.00 6300000.00 305000000.00 5378600000.00 0.00 1458000000.00 0.00 0.00 0.00 0.00 3431900000.00 0.00 1122900000.00 0.00 0.00 0.00 606600000.00 -370800000.00 39100000.00 0.00 303900000.00 0.00 0.00 189700000.00 0.00 0.00 11988400000.00 0.00 0.00 0.00 9771700000.00 0.00 33540600000.00 34844000000.00 0.00 0.00 0.00 1822400000.00 0.00 33021600000.00 0.00 0.00 0.00 11896900000.00 0.00 0.00 0.00 0.00 0.00 457700000.00 362400000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 189700000.00 0.00 0.00 -428100000.00 0.00 -12230600000.00 0.00 0.00 8400000.00 0.00 0.00 0.00 0.00 0.00 0.00 15450400000.00 0.00 18300000.00 224400000.00 5360400000.00 0.00 -113800000.00 -21158900000.00 -367900000.00 0.00 -367900000.00 27458600000.00 27090700000.00