Slides
Page 1
Q3 – FY 2025-26
Page 2
INDEX 1 Key Highlights 2 Portfolio Growth 3 Financial Update 4 Asset Quality 5 Borrowings & Capital Adequacy 6 ESG 7 Shareholders Summary 8 Annexures
Page 3
Key Highlights
Page 4
Key Highlights for Q3 FY26 4 Key Highlights for Q3FY23 4 8.64 lacs 26% YoY 8%QoQ ₹ 557 Cr 45%YoY 25% QoQ 3.2% 79 bps YoY 59 bps QoQ 2.18 Cr 8% YoY 1% QoQ 56.8% 334 bps YoY 9 bps QoQ ₹ 114,702 Cr 33% YoY 7% QoQ ₹ 57,213 Cr 4% YoY 4% QoQ Robust profitability driven by strong growth in Spends and improved Credit Cost New A/cs CIF Spends Receivables PAT Cost to Income ROAA ROAE 14.7% 322 bps YoY 262 bps QoQ Balance Sheet Business VolumesProfitability 2.86% 38 bps YoY 1 bps QoQ 24.4% 146 bps YoY 182 bps QoQ 1.28% 10 bps YoY 1 bps QoQ GNPA NNPA CARGCL% 8.3% 115 bps YoY 73 bps QoQ
Page 5
Portfolio Growth
Page 6
Key Business Metrics 11.75 11.09 8.73 9.36 8.64 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Retail Spends (₹ Cr) Corporate Spends (₹ Cr) 8% QOQ 80,792 79,709 82,404 89,611 91,962 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 3% QOQ 30% QOQ 54,773 59,845 57,213 Q3 FY25 Q2 FY26 Q3 FY26 2.02 2.15 2.18 Q3 FY25 Q2 FY26 Q3 FY26 8% YOY 1% QOQ 26% YOY 14% YOY 329% YOY Cards-in-force (Cr) 4% YOY 4% QOQ Receivables (₹ Cr) ▪ New accounts sourcing moderated to manage portfolio quality ▪ Retail Spends continue to grow; Corporate spends increasing profitably ▪ Receivables grew by ~4% YoY and IBNEA at ~56%; Key Insights: 5,301 8,656 10,840 17,452 22,739 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 New Accounts (Lacs) 6
Page 7
Portfolio Growth 77 40% 41% 40% 44% 44% 24% 24% 24% 22% 23% 36% 35% 36% 34% 34% Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Transactor Revolver EMI 55,84054,773 56,607 59,845 173 172 177 201 212 162 155 157 168 170 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Ret+Corp Ret Spend per Card (₹ ‘000) Receivable per Card (₹) Receivables(₹ Cr)/Mix % 52% 51% 52% 53% 53% Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 30-day Retail spend active rate % 56% 56% Interest Earning Receivables 60% 57,213 27,052 26,816 26,710 27,832 26,233 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26
Page 8
Retail Spends Insights UPI Spends on Rupay Cards* Spends Categories % Growth^ Category 1 Departmental Stores, Health, Utilities, Rental, Education & Direct Marketing 1% 4% 2% Category 2 Consumer durables, Furnishing & Hardware, Apparel & Jewelry 17% 12% 26% Category 3 Travel Agents, Hotels, Airline, Railways, Entertainment & Restaurant 92% 0% 145% Total Spends POS Spends Online Spend % • Over 20% growth in UPI spends – Q3 FY26 vs Q2 FY26 • Top 5 Categories for UPI Spends : Departmental Stores & Grocery | Utilities | Fuel | Apparel | Restaurant *Active UPI users on Rupay Card Base of Dec’25 Online Spends UPI Active CIF 25% 75% Tier 1 Tier 2+ UPI Spends 21% 79% Avg. UPI Spend/Account/month Rs. 16.7K Rs. 21.2K ^ 9M FY26 Over 9M FY25 | Category analysis excludes Fuel & Automotive Service category 54.4% 56.9% 57.9% 58.9% 62.1% FY22 FY23 FY24 FY25 9M FY26 8
Page 9
Financial Update
Page 10
1,354 1,303 1,280 1,281 1,220 1,2931,313 1,245 1,352Credit Cost GWO Provision 1,222 Key Financials 4,619 4,674 4,877 4,961 5,127 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Revenue from operations Interest Cost Operating Cost 829 795 813 760 785 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 2,107 2,073 2,123 2,484 2,597 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Credit Cost PAT Trend Key Insights: 3% QOQ 11% YOY 3% QOQ 5% YOY 5% QOQ 23% YOY (All figures in ₹ Cr ) ▪ Higher revenue driven by higher spend based income (higher spends during the festive season) ▪ Higher operating cost mainly due to higher spend based cost ▪ Credit cost declines to 8.3% vs 9.0% in previous quarter (with an overlay of Rs.121cr) driven by lower write off 5% QOQ 7% YOY (41) (59) 72 12 (0) Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 383 445 557 Q3 FY25 Q2 FY26 Q3 FY26 25% QOQ 45% YOY 1,382 1,557 9M FY25 9M FY26 13% YOY 10
Page 11
P&L Summary (Composition Mix %) 4,619 4,961 Revenue from operations(₹ Cr) 5,127 (All figures in ₹ Cr ) Key Metrics Yield 16.3% 16.5% -16 bps -23 bps 16.6% 0 bps COF 6.5% 6.4% 11 bps -85 bps 6.7% -69 bps NIM 11.0% 11.2% -19 bps 39 bps 11.2% 44 bps Cost to Income 56.8% 56.8% 9 bps 334 bps 54.7% 275 bps Credit Cost 8.3% 9.0% -73 bps -115 bps 8.9% -3 bps ROA 3.2% 2.6% 59 bps 79 bps 3.1% 5 bps 52% 50% 49% 22% 26% 27% 19% 18% 17% 7% 6% 6% Q3 FY25 Q2 FY26 Q3 FY26 Interest Income Spend Based Instance Based & Others Subscription Based Q3 FY26 Q2 FY26 QoQ YoY Total Income 5,353 5,136 4% 12% -Revenue from Operations 5,127 4,961 3% 11% -Interest Income 2,536 2,490 2% 6% -Fees & Other Revenue 2,591 2,471 5% 17% -Other Income 226 175 29% 53% Interest Cost 785 760 3% -5% Operating Cost 2,597 2,484 5% 23% Earning Before Credit Cost 1,971 1,892 4% 8% Impairment on Financial Instruments 1,222 1,293 -5% -7% PBT 749 600 25% 45% PAT 557 445 25% 45% 9M FY26 YoY 15,521 12% 14,965 12% 7,519 8% 7,446 15% 555 37% 2,358 -1% 7,200 21% 5,963 9% 3,866 7% 2,097 13% 1,557 13% 11
Page 12
Asset Quality
Page 13
Asset Quality 1313 91.1% 93.0% 93.2% 5.6% 4.2% 3.9% 3.2% 2.8% 2.9% Q3 FY25 Q2 FY26 Q3 FY26 Stage 1 Stage 2 Stage 3 1.4% 0.9% 0.8% 4.2% 21.7% 22.6% 64.3% 55.4% 56.1% Q3 FY25 Q2 FY26 Q3 FY26 Stage 1 Stage 2 Stage 3 Provision(₹ Cr) (% of NEA) 54,773 57,21359,845 1,965 1,9891,989 *Excludes impairment on other financial assets Includes additional provision of Rs 121 Cr for expected NEA buildup and ECL Model refresh ECL rates as per the ECL model Receivables (₹ Cr) (Composition Mix %) (All figures in ₹ Cr ) Q3 FY26 Q2 FY26 QoQ YoY Gross Credit Cost *(A) 1,220 1,293 -6% -7% -Gross Write off 1,220 1,281 -5% -10% -Provision (0) 12 -100% -100% Recoveries (B) 170 170 0% 17% Net Credit Cost (A-B) 1,049 1,123 -7% -10% Gross Credit Cost % 8.3% 9.0% -73 bps -115 bps -Gross Write off % 8.2% 8.9% -65 bps -144 bps -Provision % 0.0% 0.1% -8 bps 29 bps Net Credit Cost % 7.1% 7.8% -70 bps -126 bps PCR % 56.1% 55.4% 64 bps -829 bps ECL % 3.3% 3.3% -6 bps -32 bps GNPA % 2.86% 2.85% 1 bps -38 bps NNPA % 1.28% 1.29% -1 bps 10 bps Stage 2: 30-89 DPD and High Risk, Overlimit and Linked Accounts. Stage 3: 90-179 DPD and Settled, Restructured, Deceased and Linked Accounts. 9M FY26 YoY 3,864 7% 3,781 10% 83 -58% 497 24% 3,367 4% 8.9% -3 bps 8.7% 27 bps 0.2% -30 bps 7.8% -19 bps 56.1% -829 bps 3.3% -32 bps 2.86% -38 bps 1.28% 10 bps # ## ## ## ## ## ## ## #
Page 14
Portfolio Insight 14 37% 21% 42% Govt/PSU Cat A Cat B 44% 56% SBI Open Market 34% 24% 42% Govt/PSU Cat A Cat B New Accounts Salaried Category 33% 48% 19% Under 30 31-45 >45 30% 20%30% 20% Tier 1 Tier 2 Tier 3 Others New Sourcing For Q3 FY26 Age Profile By City Tier 38% 62% SBI Open Market 1.04 0.90 Cards- in- Force As on 31 Dec 25 20% 54% 26% Under 30 31-45 >45 35% 21% 26% 18% Tier 1 Tier 2 Tier 3 Others 0.56 1.08 1.02 1.16 1.04 0.78 0.97 0.99 1.05 1.02 Indexed 30+ delinquency
Page 15
Borrowings & Capital Adequacy
Page 16
Borrowings & Capital Adequacy Borrowings Mix COF Trend 17.0% 17.5% 17.9% 17.5% 19.1% 22.9% 22.9% 23.2% 22.5% 24.4% Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 CAR Tier 1 Capital Adequacy Key Comments Credit Ratings ▪ Short Term : A1+ by CRISIL & ICRA ▪ Long Term : AAA/Stable by CRISIL & ICRA CRISIL & ICRA • CAR at comfortable level of 24%+ • Daily weighted average COF down by 5 bps QoQ 65% 67% 67% 62% 63% 4% 1% 16% 14% 12% 15% 14% 19% 19% 17% 22% 23% Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 WCDL CP NCD TL 7.4% 7.2% 7.1% 6.4% 6.5% 7.5% 7.5% 7.3% 6.8% 6.7% Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 COF% Daily Weighted Average *Q4 FY25- Reported COF @ 7.2% (Excluding benefit from one-off lease modification, COF @ 7.3%) * 16
Page 17
ESG
Page 18
ESG & CSR Update Decarbonization • Committed to achieving Carbon Neutrality by 2030 GOVERNANCE SBI Card’s Mumbai Office Employees engaged in a beach cleaning drive on 15 November in collaboration with IPCA Promoting employee engagement & inclusivity through workplace celebrations on Durga Puja/ Diwali, Christmas & New Year. Employee Engagements @ SBI Card Rating improvement from ‘A’ to ‘AA’ ‘AA’ ESG rating indicates that our company is a "Leader" ENVIRONMENT SOCIAL Latest ESG Ratings SBI Card is a constituent of the FTSE4Good Index Series for the second consecutive year (2024, 2025) “Digital Suraksha Mission” • An awareness initiative organized in collaboration with Noida Police Commissionerate aimed at strengthening collective understanding of cyber safety, responsible digital practices & fraud protection. Event was attended by over 400 senior citizens. Community Drives • Joy of Giving drive was organized, wherein employees donated old toys, clothes, and stationery items for underprivileged children. • Employees volunteered at SHEOWS Old age home on Diwali by distributing sweets & clothes with elderlies. 18
Page 19
Shareholders Summary
Page 20
Shareholders Summary S. No Name of Shareholder % 1 State Bank Of India 68.58 2 Life Insurance Corporation Of India - P & Gs Fund 4.11 3 Life Insurance Corporation Of India 1.98 4 Icici Prudential Multi-Asset Fund 1.84 5 Icici Prudential Large & Mid Cap Fund 1.51 6 Government Pension Fund Global 1.25 7 Nippon Life India Trustee Ltd-A/C Nippon India Multi Cap Fund 0.87 8 Tata Indian Opportunities Fund 0.59 9 Pi Opportunities Aif V Llp 0.50 10 Nippon Life India Trustee Ltd-A/C Nippon India Large Cap Fund 0.49 11 Zulia Investments Pte. Ltd. 0.48 12 Vanguard Total International Stock Index Fund 0.46 13 Kotak Funds - India Midcap Fund 0.44 14 Nippon Life India Trustee Ltd- A/C Nippon India Focus Fund 0.43 15 Vanguard Emerging Markets Stock Index Fund, A Series Of Vanguard International Equity Index Funds 0.42 16 Nippon Life India Trustee Ltd- A/C Nippon India Banking & Financial Services Fund 0.41 17 Tata Large And Mid-Cap Fund 0.38 18 Nps Trust- A/C Hdfc Pension Fund Management Limited Scheme E - Tier I 0.32 19 Ishares Core Msci Emerging Markets Etf 0.31 20 Icici Prudential Elss Tax Saver Fund 0.30 Top 20 Shareholders as on 31st December 2025Shareholding Pattern, 31st December 2025 (SBI – 68.58%) 20 Promoter Group SBI & Subs. 68.58% FPI 10.15% MF 10.31% Resident Individuals 2.96% Insurance 6.59% Others 1.41%
Page 21
Annexures
Page 22
Balance Sheet Statement 22 (All figures in ₹ Cr ) Description Mar’25 Dec’25 Assets Loans (Net of Provisions) 53,935 55,224 Cash & Bank Balances 2,738 2,507 Investments 6,235 6,855 All other Financial Assets 514 667 Total Financial Assets 63,422 65,253 PP&E, Intangible & Right of use assets 330 253 Current & Deferred Tax 450 531 All other non-financial Assets 1,344 1,328 Total non-financial Assets 2,124 2,112 Total Assets 65,546 67,365 Liabilities and equity Equity Share Capital 951 952 Other Equity 12,830 14,401 Total Equity 13,782 15,352 Borrowings 44,947 46,216 All other financial liabilities 4,974 3,912 Total financial liabilities 49,920 50,128 Provisions 677 804 Other non-financial liabilities 1,167 1,080 Total non-financial liabilities 1,844 1,884 Total liabilities and equity 65,546 67,365
Page 23
Profit & Loss Statement 23 (All figures in ₹ Cr ) Description Q3 FY25 Q2 FY26 Q3 FY26 9M FY25 9M FY26 Interest Income 2,399 2,490 2,536 6,932 7,519 Fees and commission income 2,025 2,265 2,367 5,910 6,823 Sale of Services 33 20 21 99 67 Business development incentive income 161 185 202 454 554 Insurance commission income 1 0 2 2 2 Revenue from operations 4,619 4,961 5,127 13,398 14,965 Other Income 148 175 226 407 555 Income/Revenue 4,767 5,136 5,353 13,805 15,521 Finance costs 829 760 785 2,383 2,358 Fees and commission expense 144 269 347 438 803 Impairment on Financial Instruments 1,313 1,293 1,222 3,626 3,866 Employee benefits & Expenses 152 158 184 435 503 Depreciation, amortisation & impairment 49 35 34 149 104 Operating & Other expenses 1,763 2,022 2,032 4,912 5,789 Total expenses 4,249 4,537 4,604 11,943 13,423 Profit before tax 518 600 749 1,862 2,097 Profit after tax 383 445 557 1,382 1,557
Page 24
Explaining Returns Q3 FY25 Q2 FY26 Q3 FY26 QoQ YoY Interest Income 15.3% 14.8% 14.7% -7 bps -55 bps Fees and other Income 14.2% 14.7% 15.4% 65 bps 122 bps Recoveries 0.9% 1.0% 1.0% -2 bps 6 bps Total Revenue 30.4% 30.5% 31.1% 56 bps 73 bps Finance Costs 5.3% 4.5% 4.6% 4 bps -72 bps Operating Costs 13.4% 14.8% 15.1% 32 bps 166 bps Earnings before Credit Costs 11.7% 11.3% 11.5% 20 bps -21 bps Credit Costs 8.4% 7.7% 7.1% -59 bps -127 bps PBT 3.3% 3.6% 4.4% 79 bps 105 bps Taxes 0.9% 0.9% 1.1% 20 bps 26 bps ROAA 2.4% 2.6% 3.2% 59 bps 79 bps Avg Assets/Avg Equity 4.7 4.6 4.6 ROAE 11.5% 12.1% 14.7% 262 bps 322 bps 9M FY26 YoY 14.9% -33 bps 14.9% 66 bps 1.0% 10 bps 30.8% 43 bps 4.7% -56 bps 14.3% 124 bps 11.9% -24 bps 7.7% -31 bps 4.2% 7 bps 1.1% 2 bps 3.1% 5 bps 4.6 14.2% -10 bps 24
Page 25
Product Brief 25 Core Cards Co-Brand Cards Banking Travel & FuelRetail Super Premium KrisFlyer SBI Card Apex BPCL SBI Card OCTANE IRCTC SBI Card Premier Indigo SBI Card EliteReliance SBI Card Karnataka Bank SBI Card AURUM UCO Bank SBI Card SBI Card Elite SBI Card PRIME Shaurya Select SBI Card SBI Card Pulse Cashback SBI Card SimplyCLICK SBI Card SimplySAVE SBI Card PSB SBI Card Titan SBI Card Paytm SBI Card SELECT Miles Elite SBI Card Miles Prime Card Miles Select Card Doctor’s SBI Card Tata Neu Infinity SBI Card Apollo SBI Card SELECT PhonePe SBI Card SELECT BLACK Flipkart SBI Card Bank of Maharashtra SBI Card Lifestyle Home Centre SBI Card
Page 26
Market Share *As per RBI report available till Dec’25 TRANSACTIONS 19.7% 18.6% 19.0% 18.8% FY23 FY24 FY25 FY26* 18.2% 17.8% 15.7% 17.7% FY23 FY24 FY25 FY26* SPENDS 18.2% 17.0% 16.7% 17.7% FY23 FY24 FY25 FY26* Dominant credit card player in India CARDS IN FORCE 26
Page 27
Recent Developments 2727 Festive Offers Promotion Campaign 2025 o Strategic Partnerships: Collaborated with Apple, Amazon & Flipkart as a preferred partner to drive high-spend customer engagement & penetration during iPhone 17 Launch, Great Indian Festival & Big Bang Diwali Sale respectively. o Promoted SBI Card’s bouquet of festive -special offers through ‘Khushiyan Unlimited’ - an integrated multi-lingual ATL campaign across Print, TV, OOH, Radio & Digital Media • Print Ads were released with a total of 22 insertions across leading National & Regional Dailies. • News & GEC genre was leveraged through In - content branding, including studio branding, across major TV news channels • Content integration with Radio Mirchi & Radio City across Delhi & Mumbai. • Promoted cashback & discount offers on 100+ brands across 2,950+ cities covering Consumer Durables, Mobiles & Laptops, Fashion & Lifestyle, Jewelry, Electronics etc. Landmark SBI Card Product Revamp The co-branded ‘Landmark SBI Card’ has been revamped, enhancing the overall value proposition and to offer a more rewarding experience across platforms such as Lifestyle, Home Centre, Max, Spar, Baby Shop & EasyBuy. Available in three variants, the credit card offers up to 32,000 Bonus Reward Points annually. Grand Aarambham, a South India focused Festive Influencer Campaign Led by R. Ashwin, the campaign was rolled out through a high-impact teaser–trailer–reveal format with leading sports and entertainment influencers. The campaign delivered large -scale organic reach, high engagement, and reinforced SBI Card’s festive offerings. AURUM Cinema Branding AURUM in-Cinema advertising in more than 100 premium screens across Mumbai, Delhi, Gurugram & Bengaluru during marquee movie releases.
Page 28
Awards and Recognitions SBI Card golden streak continued at the LACP Awards. Our Integrated Annual Report FY24-25 has been awarded the Gold Award at the 2025 Spotlight & Inspire Awards - Global Communications Competition by LACP. Our report got an impressive score of 98/100 and was ranked 45th worldwide. Ms. Salila Pande, Managing Director and CEO, SBI Card has been awarded as the most Powerful Women in business 2025 by Business Today. The award was conferred at the prestigious NSE premises and recognizes her exceptional leadership, marked by clarity of vision, strategic foresight and an unwavering commitment to building a strong future ready organization. 28
Page 29
Glossary 29 Term Description New Accounts Sum of all accounts opened in a reporting period. Card-in-force Sum of all credit cards issued by us, including suspended credit cards that may be reactivated in future, net of cancelled and deactivated credit cards. Spends Total Spends (retail and corporate) constitutes the aggregate notional amounts (POS/online) transacted by our cardholders in a reporting period. Retail Spends Total retail spends constitutes the aggregate notional amounts (POS/online) transacted by our retail cardholders in a reporting period. Corporate Spends Total corporate spends constitutes the aggregate notional amounts (POS/online) transacted by our corporate entity cardholders in a reporting period. Receivables Total credit card receivables outstanding from our cardholders at the end of the reporting period. Retail 30-day Active Rate Constitutes the number of active accounts (with at least one retail transaction) over the total accounts in a month. Market share – CIF Market share-CIF is calculated by dividing our total cards outstanding by industry-wide total cards outstanding, as obtained from data published by RBI at the end of the reporting period. Market share – Spends Market share of total card spends is calculated by dividing our total card spends by the industry-wide total card spends, as obtained from data published by RBI for the reporting period. Averages Averages for various ratios are computed basis monthly denominators. Spends per card Spends per cards outstanding is calculated by dividing our total card spends by the average total cards outstanding for the period (annualized). Receivables per card Receivables per card outstanding is calculated as total receivables at the end of the reporting period divided by total cards at the end of the reporting period. EBCC EBCC is Earning before credit cost, calculated as aggregate of all revenue lines less interest cost and operating cost. Yield % Calculated as interest income from cardholders divided by average receivables for the period (annualized). COF % Calculated as total finance costs for the period divided by average borrowings (including lease liabilities) for the period (annualized). NIM % Calculated as interest income after subtracting finance cost divided by average receivables for the period (annualized). Gross Credit Cost % Calculated as Gross Write offs and incremental provisions on loan asset divided by average receivables for the period (annualized). Cost to Income % Calculated as operating and other expenses divided by Net revenue (Total revenue after subtracting finance cost.) ROAA Calculated as profit after tax divided by average total assets for the period (annualized). ROAE Calculated as profit after tax divided by the average shareholders’ equity for the period (annualized). GNPA% Calculated as Stage 3 receivables divided by total receivables at the end of the period NNPA% Calculated as Stage 3 receivables after subtracting provision of stage 3 divided by total receivables less stage 3 provision for the period ECL% Calculated as total provision divided by total receivables at the end of the period Shareholders’ equity Shareholders’ equity is defined as sum of share capital, reserves and surplus excluding reserves created out of amalgamation.
Page 30
Disclaimer 30 The information contained in this presentation is for information purposes only and does not constitute an offer or invitation to sell or purchase any securities of SBI Cards and Payment Services Limited in India or in any other jurisdiction. This presentation is not intended to be a prospectus or an offer document under any applicable law. This presentation may contain certain forward-looking statements which have purely been made basis Management’s expectations, assumptions and estimates, known or unknown risks. Such statement typically contain the terms / phrases (including but not limited to) “will”, “believe”, “aim”, “may”, “would”, “expect”, “would /may result”, “goal”, “strategy”, “anticipate”, “intend”, “seek”, “plan”, “objective”, “contemplate”, “project”, “anticipate”, etc., These statements are neither factual nor do they constitute any historical information about the Company and are subject to change / uncertainties in future. The actual financial or other results may materially differ from such statements, and the investors are advised not to make any decisions merely on these. The Management is further not expected to update these in future as and when there is a change impacting such estimates / possibilities. The recipients should conduct and carry out their own due diligence in respect of the information contained in the presentation. This presentation should not form basis or be relied upon in any connection with any contract or commitment whatsoever. Figures for previous period/year have been regrouped or recategorized wherever necessary to conform to the current period’s/year’s presentation. Totals in some columns/rows/graphs may not agree due to rounding-offs.
Page 31
Thank You