`
For September 2015 Payout
Abstract
CARE has rated more than 237 Asset Backed Securitisation (ABS) / Mortgage Backed Securitisation
(MBS) pools across 29 Originators and pools aggregating to around Rs. 52,000crore covering
various asset classes, which include - Auto Loans, Commercial Vehicle loans, Construction
Equipment loans, Two Wheeler loans, Personal Loans, Microfinance loans and Mortgage Loans.
This report analyses the performance of all rated transactions live as on recent date. It covers the
characteristics of pools at the time of origination and their key performance indicators. Key
performance indicators include 90+ DPD levels, 180+ DPD levels, Cumulative Collection Efficiency
Ratio, Prepayments etc. CARE also calculates the Break-even Collection Efficiency ratio to
determine the minimum collection efficiency required on pools future cash flow to be able to
serve the payouts on time. It also covers the Credit Enhancement Utilization and Coverage at 90+
DPD levels & 180+ DPD levels. Detailed performance report and interpretation of each term are
briefed in the later sections.
All the securitisation pools rated by CARE have either maintained the initial rating assigned to
them or have been upgraded. All the pools so far continue to be comfortably placed in terms of
low utilization of credit enhancements. Break-even Collection Efficiency and Enhancement
coverage for all the rated pool shows that they are comfortably placed.
1
Contents
Index
S.No
I
Terminologies
II Acronym
III Originator-Wise Pools Performance
 Au Financiers (India) Pvt. Ltd.
 Cholamandalam Investment Finance Company Ltd.
 Dewan Housing Finance Limited
 Equitas Micro Finance Private Limited
 ESAF Microfinance
 HDB Financial Services Limited
 HDFC Limited
 Hinduja Leyland Finance Limited
 Indiabulls Housing Finance Company Ltd.
 India Infoline Finance Limited
 IKF Finance Limited
 Magma Fincorp Limited
 Magma ITL Finance Ltd
 Reliance Capital Ltd.
 SKS Microfinance Limited
 Multi Originator Transaction (SKS Microfinance Limited
& Janalakshmi Financial Services Private Limited)
 Shriram City Union Finance Limited
 Shriram Transport Finance Company Limited
 SREI Equipment Finance Private Limited
Page No
3
6
9
13
17
29
31
39
45
55
59
72
74
79
90
95
97
104
107
110
120
2
Terminologies
Commencement Month: Date from which pool receivables have been transferred.
Transaction Structure: Whether the pool receivables were transferred at their par value or at a
premium. If there is some new structure, then it is suitably mentioned.
Pool Principal: The pool principal outstanding at the time of securitisation.
Future Payout: Total obligation towards PTC holders or the acquirer at the time of securitisation.
Future Receivables: Total cash flows arising from the assigned pool.
No of Contracts: The total number of contracts in a pool.
Average Maturity: It is calculated as weighted average maturity of all future cash flow.
∑ (No. of Month * Monthly Pool Cash Flow)
Sum of Pool Cash Flow
Average Seasoning: Weighted average seasoning of the pool as on cut off date.
Overdue Composition: Principal outstanding of all those loans in a pool which are in overdue category.
It is expressed as % of initial pool principal outstanding. It is presented sequentially as current, one
month overdue and two months overdue. For example, if the Pool has 98% current contracts, 1% one
month overdue and 1% two month overdue. The Overdue Composition will appear as 98%, 1%, 1%.
Cash Collateral: Cash Collateral (CC) is the total amount of credit protection available in the form of cash
or corporate undertaking divided by the pool receivables (in the case of premium transactions) or pool
principal (in the case of par transactions). Cash collateral is further divided into first loss and second loss
(wherever applicable).
Liquidity Facility: This facility is used for meeting temporary shortfall in the collection. This facility can
be used only for the overdue pertaining to all the contracts which are due for 90 days or less (less than
90 dpd).
Excess Interest Spread: It is difference between scheduled interest cash flow from underlying obligors
and schedule interest payout to investor / acquirer. It is calculated as a % of initial principal outstanding.
Pool Interest Cash Flow – Investor Interest Payout
Initial Principal Outstanding
Pool Maturity: Last payout date to the investor or the date on which last payment to the investor is to
be made.
Months Post Securitisation: Months elapsed after the securitisation.
Balance Tenure: Number of months for which investor / acquirer payout is outstanding in the
transaction.
Amortisation: Amount of pool got amortised as a percentage of original assigned pool.
3
30+/ 90+/ 180+ Delinquency (% of Initial POS / FP): It is a ratio of sum of pool principal outstanding
(POS) or future receivables (FR) of all those contracts which are more than 30/90/180 days past dues
(dpd) and overdue amount pertaining to those contracts and loss from repossessed assets (wherever
available) to the initial POS / future payouts (FP).
Future POS / FR (30+/ 90+/ 180+dpd) + Overdue Amount (30+/ 90+/ 180+dpd) + Repo Loss
Initial POS / FP
30+/ 90+/ 180+ Delinquency (% of Balance POS / FP): It is a ratio of future POS / FR of all those
contracts which are more than 30/90/180dpd to the balance pool POS / FP.
Future POS / FR (30+/ 90+/ 180+dpd)
Balance POS/ FP
Overdue as a % of Initial POS / FP: It is a ratio of overdue amount of all the contracts overdue as on
date to initial POS / FP.
Overdue Amount
Initial POS / FP
Cash Collateral as % of Balance POS: It is ratio of outstanding cash collateral as on date as a % of
principal outstanding as on date.
Outstandingcash collateral
Balance POS
Liquidity Facility as % of Balance POS: It is ratio of outstanding liquidity facility as on date as a % of
principal outstanding as on date.
Outstandingliquidity facility
Balance POS
Balance cash collateral: Outstanding cash collateral as a % of initial cash collateral.
Outstanding Cash Collateral
Initial cash collateral
Break Even Collection Efficiency: Minimum collection efficiency required from future billings (excluding
overdues) to serve the investors.
Future Payouts – Available cash collateral
Future Billing
Break Even Collection Efficiency (First Loss Facility): Minimum collection efficiency required from
future billings (excluding overdues) to serve the investor keeping second loss facility unutilised at the
end of the transaction.
Future Payouts – Available first loss facility (cash collateral)
Future Billing
Overall Credit Enhancement coverage at 30+/ 90+/ 180+dpd: This ratio explains the credit
enhancement coverage available to the future receivables of above 30/90/180dpd contracts.
4
1- Break even collection efficiency
30+/ 90+/ 180+dpd (% of Balance POS)
First Loss Enhancement coverage at 90+/ 180+dpd: This ratio explains the first loss enhancement
coverage available to the future receivables of above 90/180dpd contracts.
1- Break even collection efficiency (First Loss Facility)
90+/180+dpd (% of Balance POS)
Cumulative Prepayment: This ratio explains the cumulative prepayment in the pool.
Cumulative Prepayment
Initial POS / FP
Cumulative Collection Efficiency (CCE): This ratio explains the cumulative collection in the pool.
Cumulative Collection till date (exclusive of prepayments)
Cumulative Monthly Billing
Monthly Collection Efficiency (MCE): This ratio explains the monthly collection in the pool.
Total Monthly Collections (exclusive of prepayments)
Monthly Billing
Fortnightly Collection Efficiency (FCE): This ratio explains the fortnightly collection in the pool.
Total Fortnightly Collections (exclusive of prepayments)
Fortnightly Billing
5
Acronym
ABS
Asset Backed Securities
Amt
Amount
AP
Assignee Payout
BCE
Break-even Collection Efficiency
CC
Cash Collateral/ Credit Collateral
CCE
Cumulative Collection Efficiency
DPD
Days Past Due
EIS
Excess Interest Spread
FLF
First Loss Facility
FL
First Loss
FP
Future Payouts
FR
Future Receivables
LF
Liquidity Facility
MBS
Mortgage Backed Securities
MCE
Monthly Collection Efficiency
FCE
Fortnightly Collection Efficiency
OC
Over Collateralization
PTC
Pass through Certificate
POS
Principal Outstanding
SLF
Second Loss Facility
6
Rating Withdrawal:
No
Originator
Transaction Name
Facilities /
Instrument
Month of
Withdrawal
Rating/Credit
opinion
1
Indiabulls Housing
Finance Limited.
Innovation Trust IV
Sep 12
A1 PTCs
May-15
CARE AA+ (SO)
2
Indiabulls Housing
Finance Limited.
IBFSL DA Mar’12 III
AP
June-15
CARE AA+ (SO)
Equivalent
HDFC Bank Ltd. –
Mar’09
AP
June-15
CARE AAA (SO)
Equivalent
IMLRT Feb 2014 C
A PTCs
July-15
CARE A+ (SO)
IMLRT March 2014 E
A PTCs
July-15
CARE A+ (SO)
3
4
5
HDFC Bank Ltd.
SKS Microfinance and
Janalakshmi Financial
Services Pvt. Ltd.
(Combined Pool)
SKS Microfinance and
Janalakshmi Financial
Services Pvt. Ltd.
(Combined Pool)
CARE AAA (SO)
A1 PTCs
6
7
Shriram Transport
Finance Company Ltd.
Shriram Transport
Finance Company Ltd.
STFCL CV Trust Dec
2012-II
STFCL CV Trust Nov
2012-I
A2 PTCs
July-15
SLF
CARE BBB (SO)
Equivalent
A1 PTCs
CARE AAA (SO)
A2 PTCs
CARE AAA (SO)
CARE BBB (SO)
Equivalent
CARE BB+ (SO)
CARE AA (SO)
Equivalent
CARE BBB (SO)
Equivalent
SLF
July-15
A2 PTCs
8
9
10
11
Magma Fincorp
Limited
Equitas Microfinance
Private Limited
SKS Microfinance
SREI Equipment
Finance Private Ltd.
MFL Direct
Assignment – March12 I
Microloans Pool Chatvaari - March
2014
IMLRT Dec-14 A
IIERT March 2013-IV
Shriram Transport
Finance Company
Limited
STFCL CV Trust Nov2012 III
13
Shriram Transport
Finance Company
Limited
Grand Development
Trust June 2013-I
14
SREI Equipment
Finance Private Ltd.
IIERT March 2013-II
12
CARE AAA (SO)
AP
July-15
SLF
A PTCs
August-15
CARE AA (SO)
A PTCs
July-15
CARE AA (SO)
APTCs
August-15
CARE AA (SO)
August-15
CARE AA+ (SO)
CARE AA+ (SO)
CARE BBB (SO)
Equivalent
A1 PTCs
A2 PTCs
SLF
CARE AA (SO)
A PTCs
SLF
A1 PTCs
August-15
CARE BBB (SO)
Equivalent
September-15
CARE AA (SO)
7
15
Magma Fincorp
Limited
A1 PTCs
CARE AA (SO)
A2 PTCs
CARE AA (SO)
MFL Securitisation
Trust-VIII
September-15
SLF
LF
CARE BBB (SO)
Equivalent
CARE AAA (SO)
Equivalent
Provisional Rating:
List of provisional rating cases assigned by CARE which are yet to convert to final rating
provided below. The rating shall be confirmed, once the final documents received. The
executed documents should confirm to the structure/conditions as provided at the time of the
initial rating.
No
Originator
Transaction
Rating
assigned
month
Instrument
Amount
(Rs Crs)
Ratings
assigned
Documents
pending
--
--
--
--
--
--
--
--
Rating Transition
Sr.
No.
Originator
1
HDFC Limited
2
HDFC Limited
3
HDFC Limited
4
HDFC Limited
5
HDFC Limited
Transaction Name
HDFC’s
Assignment
Receivables Mar09
HDFC’s
Assignment
Receivables May09 I
HDFC’s
Assignment
Receivables May09 II
HDFC’s
Assignment
Receivables Dec09 I
HDFC’s
Assignment
Receivables Dec09 II
Month of
Upgrade
Rating/Credit
Opinion
Second Loss
Facility
Oct-15
CARE A+ (SO)
Equivalent
Second Loss
Facility
Oct-15
CARE A+ (SO)
Equivalent
Second Loss
Facility
Oct-15
CARE A+ (SO)
Equivalent
Second Loss
Facility
Oct-15
CARE A+ (SO)
Equivalent
Second Loss
Facility
Oct-15
CARE A+ (SO)
Equivalent
Instrument
Remarks
Revised from
CARE BBB
(SO)
Equivalent
Revised from
CARE BBB
(SO)
Equivalent
Revised from
CARE BBB
(SO)
Equivalent
Revised from
CARE BBB
(SO)
Equivalent
Revised from
CARE BBB
(SO)
Equivalent
8
Au Financiers (India) Pvt. Limited –
(AUFPL - 3 Pools)
Key financial indicators
For the year ended as on 31st March
Total Income (in Rs. Cr)
Profit After Tax (in Rs. Cr)
Net worth (in Rs. Cr)
Gross NPA ratio (%)
Capital Adequacy Ratio (CAR) (%)
2012
(12m, A)
249
50
392
0.43
29.02
2013
(12m, A)
441
80
454
0.81
20.82
2014
(12m, A)
619
92
624
1.50
20.43
FY15
(6m, P)
336
52
699
2.01
22.55
P*=Provisional, A=Audited

Total income stood at Rs. 619 Crore in FY14 and 336 crore as on H1FY15. This increase was
on account of strong AUM growth.

Economic slowdown over the past years has lead to an increase in delinquencies. The Gross
NPA ratio increased from 1.50% as on March 31, 2014 to 2.01% as on September 30th 2014.

AUFL reported regulatory CAR of 22.55% as on September 2014.
9
Issue Name
Originator
Rating/Credit Opinion
Asset Class
AUFPL Direct Assignment Mar ’12 I
Au Finaciers (India) Pvt. Limited
Assignee Payout - CARE A+ (SO) Equivalent
CV(79%), MUV (12%)& TWH (8%)
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
Mar-12
Premium
22.2
29.5
821
19.2
1.8
100%,0%
CC as % of initial FR
10.2%
First Loss Credit
NA
Second Loss Credit
NA
LF as % of initial POS
NA
EIS
NA
OC
NA
Pool Maturity
Feb-16
Maturity (months)
47
Pool Performance
Sep-15
42
5
97.9%
1.4%
1.1%
12.4%
5.9%
1.9%
403.9%
NA
NA
81.5%
NA
NA
97.6%
95.8%
0.0%
NA
NA
NA
NA
NA
13.0%
Months Post Securitisation
Balance Tenure (Months)
Amortisation
90+ Delinquency (% of Initial FR)
180+ Delinquency (% of Initial FR)
90+ Delinquency (% of Balancel FR)
180+ Delinquency(% of Balance FR)
Overdue Amt (% of Initial FR)
CC as % of Balance FR
FLF as % of Balance FR
LF as % of Balance FR
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
Delinquency
90+ dpd
Overdue
180+ dpd
4.0%
Collection Efficiency
Jun-15
39
8
95.6%
1.4%
0.9%
8.6%
4.3%
1.8%
191.4%
NA
NA
82.4%
NA
NA
97.6%
116.2%
0.0%
NA
NA
NA
NA
NA
12.9%
CCE
MCE
BCE
150.0%
3.0%
100.0%
2.0%
50.0%
1.0%
0.0%
0.0%
M1
M7 M13 M19 M25 M31 M37
M1 M7 M13 M19 M25 M31 M37
10
Issue Name
Originator
Rating/Credit Opinion
Asset Class
AUFPL Direct Assignment Mar ’12 II
Au Finaciers (India) Pvt. Limited
Assignee Payout - CARE AAA (SO) Equivalent
Second Loss Facility - CARE BBB (SO) Equivalent
Loan Against Property(60%) & HL(40%)
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
Mar-12
Par
50.0
80.1
1193
32.1
6.2
100%, 0%
CC as % of initial POS
First Loss Credit
Second Loss Credit
LF as % of initial POS
EIS
OC
Pool Maturity
Maturity (months)
Pool Performance
Sep-15
42
41
77.3%
2.8%
1.5%
7.8%
3.0%
1.9%
120.8%
43.7%
NA
100.0%
100.0%
NA
98.1%
106.0%
0.0%
56.9%
NA
NA
5.5
14.4
31.2%
Months Post Securitisation
Balance Tenure (Months)
Amortisation
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
Delinquency
90+ dpd
Overdue
180+ dpd
3.0%
Collection Efficiency
15.0%
5.0%
10.0%
NA
24.9%
NA
Feb-19
83
Jun-15
39
44
73.4%
2.5%
1.3%
6.1%
2.5%
1.7%
103.0%
37.3%
NA
100.0%
100.0%
NA
97.8%
96.8%
9.8%
61.9%
14.8
>30
6.3
15.2
30.3%
CCE
MCE
BCE
120.0%
100.0%
80.0%
60.0%
40.0%
20.0%
0.0%
2.0%
1.0%
0.0%
M1
M7 M13 M19 M25 M31 M37
M1 M7 M13 M19 M25 M31 M37
11
Issue Name
Originator
Rating/Credit Opinion
Asset Class
India Standard Loan Trust - III
Au Finaciers (India) Pvt. Limited
Series A PTCs and Series B PTC - CARE AA (SO)
& Second Loss Facility - CARE BBB (SO) Equivalent
MUV (52.51%), SCV (27.38%), LCV (10.50%),
HCV (8.38%) and Others (1.23%).
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
Mar-13
Par
74.9
94.9
2084
19.0
8.0
100%,0%
CC as % of initial POS 9.5%
First Loss Credit
3.0%
Second Loss Credit
6.5%
LF as % of initial POS
NA
EIS
12.1%
OC
NA
Pool Maturity
Jan-17
Maturity (months)
47
Pool Performance
Sep-15
30
17
84.3%
3.7%
2.7%
8.9%
5.3%
4.2%
60.4%
21.3%
NA
100.0%
100.0%
NA
95.6%
101.2%
40.5%
76.8%
6.7
11.2
2.6
14.5
11.6%
Months Post Securitisation
Balance Tenure (Months)
Amortisation
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
Delinquency
90+ dpd
Overdue
180+ dpd
Collection Efficiency
Jun-15
27
20
78.0%
4.0%
2.6%
8.7%
4.9%
4.3%
43.2%
15.2%
NA
100.0%
100.0%
NA
95.2%
98.8%
56.3%
82.0%
5.0
8.8
2.1
16.6
11.0%
CCE
MCE
BCE
120.0%
6.0%
100.0%
4.0%
80.0%
2.0%
60.0%
0.0%
40.0%
M1
M6
M11
M16 M21
M26
M1
M6 M11 M16 M21 M26
12
Cholamandalam Investment Finance
Company Ltd. (CIFCL – 3 Pools)
Key Financial Indicators
For the year ended as on 31st March
Total Income (in Rs. Cr)
Profit After Tax (in Rs. Cr)
Net worth (in Rs. Cr)
Gross NPA (%)
Capital Adequacy Ratio (CAR)
2011
(12m, A)
1,202
62
941
3.17
16.67
2012
(12m, A)
1,788
173
1,417
0.95
18.08
2013
(12m, A)
2,556
307
1,965
1.20
19.04
2014
(12m, A)
3263
364
2,295
1.85
17.24
2015
(12m, A)
3,691
435
3,172
3.10
21.24
P*=Provisional, A=Audited

During FY15, CIFCL reported an operating income of Rs. 3,691 crore (growth of 13% yoy)

Provisions continued to increase in FY15 as well, primarily due to increased NPA levels in
the vehicle finance segment which is in-line with the industry trend.

The overall asset quality of CIFCL had seen deterioration over the years. The gross NPA
has increased from 1.85% in FY14 to 3.10% in FY15.

The CAR improved to 21.24% as on March 31, 2015 as against 17.24% as on
March 31, 2014.
13
Issue Name
Originator
Rating/Credit Opinion
Asset Class
Platinum Trust Dec 13 - Tranche 3
Cholamandalam Investment and Finance Company Ltd. (CIFCL)
Series A PTCs - CARE AAA (SO)
LCV(60.38%), HCV(28.24%) and Others(11.38%)
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
Dec-13
Par
344.1
414.9
7,649
16.5
12.8
94.9%, 5.1%
CC as % of initial POS
8.6%
First Loss Credit Facility
NA
Second Loss Credit Facility NA
LF as % of initial POS
NA
EIS
9.8%
OC
NA
Pool Maturity
Nov-18
Maturity (months)
59
Pool Performance
Months Post Securitisation
Balance Tenure (Months)
Amortisation
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
90+ dpd
Overdue
Delinquency
180+ dpd
Sep-15
Jun-15
21
38
67.8%
2.1%
0.6%
4.2%
0.9%
1.5%
26.7%
NA
NA
100.0%
NA
NA
97.8%
99.9%
68.7%
NA
7.5
>30
NA
NA
9.1%
18
41
59.2%
2.1%
0.6%
3.4%
0.8%
1.6%
21.1%
NA
NA
100.0%
NA
NA
97.5%
98.4%
74.6%
NA
7.4
>30
NA
NA
7.6%
Collection Efficiency
3.0%
120.0%
2.0%
100.0%
1.0%
80.0%
CCE
MCE
BCE
60.0%
0.0%
M1
M4
M7
M10 M13 M16 M19
M1
M4
M7 M10 M13 M16 M19
14
Issue Name
Originator
Rating/Credit Opinion
Asset Class
Platinum Trust Jan -14
Cholamandalam Investment and Finance Company Ltd. (CIFCL)
Series A PTCs - CARE AAA (SO)
Loan Against property
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
Jan-14
Par
250.0
469.9
413
62.8
15.0
100%, 0%
CC as % of initial POS
10.5%
First Loss Credit Facility
NA
Second Loss Credit Facility NA
LF as % of initial POS
NA
EIS
40.3%
OC
NA
Pool Maturity
Dec-27
Maturity (months)
168
Pool Performance
Months Post Securitisation
Amortisation
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
90+ dpd
Overdue
Delinquency
180+ dpd
Sep-15
Jun-15
20
45.6%
6.4%
3.7%
10.1%
5.5%
1.0%
19.3%
NA
NA
100.0%
NA
NA
95.9%
92.4%
69.9%
NA
3.0
5.5
NA
NA
37.7%
17
41.4%
4.5%
2.9%
6.6%
4.1%
0.8%
17.9%
NA
NA
100.0%
NA
NA
96.4%
94.9%
70.4%
NA
4.5
7.2
NA
NA
34.5%
Collection Efficiency
110.0%
7.0%
6.0%
5.0%
4.0%
3.0%
2.0%
1.0%
0.0%
CCE
MCE
BCE
100.0%
90.0%
80.0%
70.0%
60.0%
M1
M4
M7
M10
M13
M16
M19
M1
M4
M7 M10 M13 M16 M19
15
Issue Name
Originator
Rating/Credit Opinion
Asset Class
Platinum Trust March -14 - Tranche III
Cholamandalam Investment and Finance Company Ltd. (CIFCL)
Series A PTCs - CARE AAA (SO)
New CV(33.81%) and Tractor (66.19%)
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
Mar-14
Par
125.4
151.2
5,547
14.1
13.1
100%,0%
CC as % of initial POS
10.5%
First Loss Credit Facility
NA
Second Loss Credit Facility NA
LF as % of initial POS
NA
EIS
11.3%
OC
NA
Pool Maturity
Jun-18
Maturity (months)
52
Pool Performance
Months Post Securitisation
Balance Tenure (Months)
Amortisation
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
Delenquency
2.5%
90+ dpd
Overdue
180+ dpd
Sep-15
Jun-15
18
34
71.2%
1.6%
0.4%
3.8%
0.9%
1.7%
36.4%
NA
NA
100.0%
NA
NA
97.0%
98.4%
61.0%
NA
10.3
>30
NA
NA
5.6%
15
37
59.5%
1.0%
0.3%
1.6%
0.4%
1.3%
25.9%
NA
NA
100.0%
NA
NA
97.1%
101.4%
69.5%
NA
19.0
>30
NA
NA
4.4%
Collection Efficiency
CCE
MCE
BCE
120.00%
2.0%
100.00%
1.5%
1.0%
80.00%
0.5%
60.00%
0.0%
M1 M3 M5 M7 M9 M11 M13 M15 M17
M1 M3 M5 M7 M9 M11M13M15M17
16
Dewan Housing Finance Limited
(DHFL –11 Pools)
Key Financial Indicators
For the year ended as on 31st March
Total Income (in Rs. Cr)
Profit After Tax (in Rs. Cr)
Net worth (in Rs. Cr)
Gross NPA (%)
Capital Adequacy Ratio (CAR) (%)
2012
(12m, A)
2,470
306
2,033
0.76
18.24
2013
(12m, A)
4,141
452
3,235
0.71
16.52
2014
(12m, A)
4,970
529
3,575
0.78
16.42
2015
(12m, A)
5,982
621
4,636
0.8
16.5
P*=Provisional, A=Audited

DHFL reported PAT of Rs. 173 crore on total income of Rs. 1,653 crore during 1QFY16 as
compared to PAT of Rs. 621 crore on total income of Rs. 5,982 crore during FY15.

DHFL reported Gross NPA ratio of 0.8% in 1QFY16, at the same level as at the end of
FY15. Over the years DHFL has developed the expertise in lending in the low-middle
income group segment while maintaining stable asset quality parameters.

DHFL reported the CAR of 15.8% as on June 30, 2015, as compared to 16.5% as on
March 31, 2015.
Note: Shri Vijay Kumar Chopra, who is a Director on the board Dewan Housing Finance Limited,
is a member of the Rating Committee in CARE. Shri Vijay Kumar Chopra did not participate in
the rating process or in the meeting of the Rating Committee when the rating of DHFL was
discussed.
17
18
Issue Name
Originator
Rating/Credit Opinion
Asset Class
DHFL Direct Assignment Mar'12 II
Dewan Housing Finance Limited
Assignee Payout - CARE AAA (SO) Equivalent
Housing Loans Receivables
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
Mar-12
Par
266.7
575.4
3,874
92.4
16.6
100%, 0%
CC as % of initial POS
13.0%
First Loss Credit Facility
NA
Second Loss Credit Facility NA
LF as % of initial POS
NA
EIS
20.9%
OC
NA
Pool Maturity
Mar-37
Maturity (months)
300
Pool Performance
Months Post Securitisation
Amortisation
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
90+ dpd
Overdue
Delinquency
180+ dpd
1.0%
Sep-15
Jun-15
42
47.0%
0.3%
0.3%
0.5%
0.4%
0.1%
24.5%
NA
NA
100.0%
NA
NA
99.5%
100.5%
78.3%
NA
>30
>30
NA
NA
33.9%
39
44.4%
0.3%
0.3%
0.5%
0.4%
0.1%
23.4%
NA
NA
100.0%
NA
NA
99.5%
99.4%
80.0%
NA
>30
>30
NA
NA
32.3%
Collection Efficiency
CCE
MCE
BCE
110.00%
100.00%
0.5%
90.00%
80.00%
70.00%
0.0%
M1
M7
M13
M19
M25
M31
M37
M1 M7 M13 M19 M25 M31 M37
19
Issue Name
Originator
Rating/Credit Opinion
Asset Class
DHFL Direct Assignment Mar'12 III
Dewan Housing Finance Limited
Assignee Payout - CARE AAA (SO) Equivalent
Housing Loans Receivables
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
Mar-12
Par
110.0
234.1
1,444
90.5
17.1
100%, 0%
CC as % of initial POS
14.0%
First Loss Credit Facility
NA
Second Loss Credit Facility NA
LF as % of initial POS
NA
EIS
12.5%
OC
NA
Pool Maturity
Mar-32
Maturity (months)
240
Pool Performance
Months Post Securitisation
Amortisation
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
Delinquency
90+ dpd
Overdue
180+ dpd
1.0%
Sep-15
Jun-15
42
48.7%
0.4%
0.2%
0.6%
0.3%
0.2%
27.3%
NA
NA
100.0%
NA
NA
99.5%
100.4%
77.4%
NA
>30
>30
NA
NA
35.7%
39
46.2%
0.4%
0.3%
0.7%
0.4%
0.2%
26.0%
NA
NA
100.0%
NA
NA
99.5%
98.9%
79.0%
NA
29.4
>30
NA
NA
34.1%
Collection Efficiency
CCE
MCE
BCE
110.00%
100.00%
0.5%
90.00%
80.00%
70.00%
0.0%
M1
M10
M19
M28
M37
M1
M10
M19
M28
M37
20
Issue Name
Originator
Rating/Credit opinion
Asset Class
Nirmaan RMBS Trust - Series II - 2013
Dewan Housing Finance Limited
Series A1 PTCs - CARE AAA(SO) & Series A2 PTC - CARE AA- (SO)
Housing Loans Receivables
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Series A1 Principal (Rs Cr)
Jun-13
Par
299.9
287.9
Future Receivables (Rs Cr)
689.0
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
2,110
104.5
17.9
100%, 0%
CC as % of initial POS
First Loss Credit Facility
Second Loss Credit Facility
LF as % of initial POS
Series A2 Principal
(subordinated to A1) (Rs Cr)
EIS
OC
Pool Maturity
Maturity (months)
Pool Performance
Months Post Securitisation
Amortisation (Series A1 Principal)
Amortisation (Series A2 Principal)
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance LF (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
90+ dpd
Delinquency
180+ dpd
Overdue
1.0%
8.0%
NA
NA
NA
12.0
33.6%
4.0%
Jun-38
300
Sep-15
Jun-15
27
38.1%
38.1%
0.5%
0.2%
0.8%
0.4%
0.1%
12.9%
NA
NA
100.0%
NA
NA
99.1%
100.7%
80.9%
NA
25.3
>30
NA
NA
31.8%
24
34.6%
34.6%
0.5%
0.2%
0.7%
0.3%
0.2%
12.2%
NA
NA
100.0%
NA
NA
99.0%
99.2%
81.1%
NA
26.8
>30
NA
NA
29.0%
Collection Efficiency
CCE
MCE
BCE
110.0%
100.0%
0.5%
90.0%
80.0%
70.0%
0.0%
M1
M6
M11
M16
M21
M26
M1
M6
M11
M16
M21
M26
21
Issue Name
Originator
Rating/Credit Opinion
Asset Class
Nirmaan RMBS Trust - Series III - 2013
Dewan Housing Finance Limited
Series A1 PTCs - CARE AAA(SO) & Series A2 PTC - CARE AA (SO)
Housing Loans Receivables
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Series A1 Principal (Rs Cr)
Aug-13
Par
413.9
397.3
Future Receivables (Rs Cr)
890.1
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
CC as % of initial POS
First Loss Credit Facility
Second Loss Credit Facility
LF as % of initial POS
Series A2 Principal
(subordinated to A1) (Rs Cr)
EIS
OC
Pool Maturity
Maturity (months)
2,791
98.6
33.4
100%, 0%
Pool Performance
Months Post Securitisation
Amortisation (Series A1 Principal)
Amortisation (Series A2 Principal)
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance LF (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
90+ dpd
Overdue
Delinquency
180+ dpd
1.0%
8.4%
NA
NA
NA
16.6
23.2%
4.0%
May-38
299
Sep-15
Jun-15
25
40.3%
40.3%
0.2%
0.2%
0.3%
0.2%
0.1%
13.4%
NA
NA
100.0%
NA
NA
99.7%
100.0%
81.9%
NA
>30
>30
NA
NA
32.0%
22
36.6%
36.6%
0.2%
0.1%
0.3%
0.1%
0.1%
12.6%
NA
NA
100.0%
NA
NA
99.7%
99.3%
82.4%
NA
>30
>30
NA
NA
29.3%
Collection Efficiency
CCE
MCE
BCE
110.0%
100.0%
0.5%
90.0%
80.0%
0.0%
M1
M5
M9
M13
M17
M21
M25
M1
M5
M9
M13 M17 M21 M25
22
Issue Name
Originator
Rating/Credit Opinion
Asset Class
Nirmaan RMBS Trust - Series IV - 2013
Dewan Housing Finance Limited
Series A1 PTCs - CARE AAA(SO) & Series A2 PTC - CARE AA (SO)
Housing Loans Receivables
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Series A1 Principal (Rs Cr)
Nov-13
Par
195.3
187.5
Future Receivables (Rs Cr)
450.5
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
CC as % of initial POS
First Loss Credit Facility
Second Loss Credit Facility
LF as % of initial POS
Series A2 Principal
(subordinated to A1) (Rs Cr)
EIS
OC
Pool Maturity
Maturity (months)
2,135
107.0
37.2
100%, 0%
Pool Performance
90+ dpd
Overdue
180+ dpd
1.0%
7.8
29.5%
4.0%
Oct-43
360
Sep-15
Jun-15
22
34.3%
34.3%
0.1%
0.1%
0.1%
0.1%
0.1%
12.2%
NA
NA
100.0%
NA
NA
99.7%
100.6%
81.9%
NA
>30
>30
NA
NA
26.8%
19
30.3%
30.3%
0.2%
0.1%
0.2%
0.1%
0.1%
11.5%
NA
NA
100.0%
NA
NA
99.6%
99.5%
82.3%
NA
>30
>30
NA
NA
23.8%
Months Post Securitisation
Amortisation (Series A1 Principal)
Amortisation (Series A2 Principal)
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance LF (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
Delinquency
8.0%
NA
NA
NA
CCE
MCE
Collection Efficiency
BCE
110.0%
100.0%
0.5%
90.0%
80.0%
70.0%
0.0%
M1
M4
M7
M10 M13 M16 M19 M22
M1
M6
M11
M16
M21
23
Issue Name
Originator
Rating/Credit Opinion
Asset Class
Nirmaan RMBS Trust - Series I - 2014
Dewan Housing Finance Limited
Series A1 PTCs - CARE AAA(SO) & Series A2 PTC - CARE AA (SO)
Loan Against Property (LAP)
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Series A1 Principal (Rs Cr)
Feb-14
Par
80.2
77.0
Future Receivables (Rs Cr)
180.0
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
CC as % of initial POS
First Loss Credit Facility
Second Loss Credit Facility
LF as % of initial POS
Series A2 Principal
(subordinated to A1) (Rs Cr)
EIS
OC
Pool Maturity
Maturity (months)
173
83.5
30.1
100%, 0%
Pool Performance
Months Post Securitisation
Amortisation (Series A1 Principal)
Amortisation (Series A2 Principal)
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance LF (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
90+ dpd
Overdue
Delinquency
180+ dpd
3.0%
14.5%
NA
NA
NA
3.2
42.0%
4.0%
Apr-36
266
Sep-15
Jun-15
19
58.0%
58.0%
1.3%
1.3%
2.7%
2.7%
0.2%
34.5%
NA
NA
100.0%
NA
NA
98.8%
99.5%
65.0%
NA
12.9
12.9
NA
NA
52.7%
16
46.6%
46.6%
1.3%
1.3%
2.2%
2.2%
0.2%
27.2%
NA
NA
100.0%
NA
NA
98.7%
115.4%
68.8%
NA
14.5
14.5
NA
NA
42.1%
Collection Efficiency
CCE
MCE
BCE
140.0%
120.0%
2.0%
100.0%
1.0%
80.0%
60.0%
0.0%
M1
M4
M7
M10
M13
M16
M19
M1
M4
M7
M10 M13 M16 M19
24
Issue Name
Originator
Rating/Credit opinion
Asset Class
Nirmaan RMBS Trust - Series III - 2014
Dewan Housing Finance Limited
Series A1 PTCs - CARE AAA(SO) & Series A2 PTC - CARE AA (SO)
Housing Loans Receivables
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Series A1 PTC Principal (Rs Cr)
Mar-14
Par
92.2
88.5
Future Receivables (Rs Cr)
CC as % of initial POS
First Loss Credit Facility
Second Loss Credit Facility
LF as % of initial POS
Series A2 Principal
(subordinated to A1) (Rs Cr)
EIS
OC
Pool Maturity
Maturity (months)
220.3
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
748
108.7
22.8
100%, 0%
Pool Performance
Months Post Securitisation
Amortisation (Series A1 Principal)
Amortisation (Series A2 Principal)
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance LF (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
Delinquency
90+ dpd
Overdue
180+ dpd
1.0%
8.8%
NA
NA
NA
3.7
34.7%
4.0%
Feb-39
299
Sep-15
Jun-15
18
23.1%
23.1%
0.1%
0.1%
0.2%
0.2%
0.1%
11.4%
NA
NA
100.0%
NA
NA
99.6%
100.2%
81.7%
NA
>30
>30
NA
NA
18.6%
15
18.6%
18.6%
0.1%
0.1%
0.2%
0.2%
0.1%
10.8%
NA
NA
100.0%
NA
NA
99.5%
99.9%
81.9%
NA
>30
>30
NA
NA
14.9%
Collection Efficiency
CCE
MCE
BCE
110.0%
100.0%
0.5%
90.0%
80.0%
70.0%
0.0%
M1 M3 M5 M7 M9 M11 M13 M15 M17
M1 M3 M5 M7 M9 M11 M13 M15 M17
25
Issue Name
Originator
Rating/Credit Opinion
Asset Class
Nirmaan RMBS Trust - Series IV - 2014
Dewan Housing Finance Limited
Series A PTCs - CARE AAA(SO)
Housing Loans Receivables
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
Mar-14
Par
37.8
87.4
288
105.0
21.1
100%, 0%
CC as % of initial POS
7.5%
First Loss Credit Facility
NA
Second Loss Credit Facility
NA
LF as % of initial POS
NA
EIS
32.7%
Mortgage Guarantee by IMGC 10.0%
Pool Maturity
Dec-38
Maturity (months)
297
Pool Performance
Months Post Securitisation
Amortisation
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
Delinquency
90+ dpd
Overdue
180+ dpd
1.0%
Sep-15
Jun-15
18
25.3%
0.0%
0.0%
0.0%
0.0%
0.1%
10.3%
NA
NA
100.0%
NA
NA
99.6%
100.1%
82.2%
NA
NA
NA
NA
NA
19.7%
15
22.6%
0.0%
0.0%
0.0%
0.0%
0.1%
9.9%
NA
NA
100.0%
NA
NA
99.5%
99.5%
82.4%
NA
NA
NA
NA
NA
18.0%
Collection Efficiency
CCE
MCE
BCE
110.0%
100.0%
0.5%
90.0%
80.0%
70.0%
0.0%
M1 M3 M5 M7 M9 M11 M13 M15 M17
M1 M3 M5 M7 M9 M11M13M15M17
26
Issue Name
Originator
Rating/Credit Opinion
Asset Class
Nirmaan RMBS Trust - Series I - 2015
Dewan Housing Finance Limited
Series A1 PTCs - CARE AAA(SO) & Series A2 PTC - CARE AA (SO)
Housing Loans Receivables
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Series A1 PTC Principal (Rs Cr)
Feb-15
Par
215.4
209.0
Future Receivables (Rs Cr)
487.3
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
CC as % of initial POS
First Loss Credit Facility
Second Loss Credit Facility
LF as % of initial POS
Series A2 Principal
(subordinated to A1) (Rs Cr)
EIS
OC
Pool Maturity
Maturity (months)
1,596
106.1
22.5
100%, 0%
Pool Performance
Months Post Securitisation
Amortisation (Series A1 Principal)
Amortisation (Series A2 Principal)
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance LF (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
90+ dpd
Overdue
Delinquency
180+ dpd
1.0%
10.5%
NA
NA
NA
6.4
29.1%
3.0%
Feb-40
300
Sep-15
Jun-15
7
7.5%
7.5%
0.0%
0.0%
0.0%
0.0%
0.1%
11.4%
NA
NA
100.0%
NA
NA
99.2%
100.3%
82.3%
NA
NA
NA
NA
NA
5.6%
4
4.1%
4.1%
0.0%
0.0%
0.0%
0.0%
0.1%
0.0%
NA
NA
100.0%
NA
NA
98.5%
98.8%
86.5%
NA
>30
NA
NA
NA
3.0%
CCE
MCE
Collection Efficiency
BCE
110.00%
100.00%
0.5%
90.00%
80.00%
70.00%
0.0%
M1
M2
M3
M4
M5
M6
M7
M1
M2
M3
M4
M5
M6
M7
27
Issue Name
Originator
Rating/Credit Opinion
Asset Class
Nirmaan RMBS Trust - Series II - 2015
Dewan Housing Finance Limited
Series A1 PTCs - CARE AAA(SO) & Series A2 PTC - CARE AA (SO)
Housing Loans Receivables
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Series A1 PTC Principal (Rs Cr)
Mar-15
Par
312.5
303.1
Future Receivables (Rs Cr)
CC as % of initial POS
First Loss Credit Facility
Second Loss Credit Facility
LF as % of initial POS
Series A2 Principal
(subordinated to A1) (Rs Cr)
EIS
OC
Pool Maturity
Maturity (months)
656.5
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
4,228
94.2
28.9
100%, 0%
Pool Performance
Months Post Securitisation
Amortisation (Series A1 Principal)
Amortisation (Series A2 Principal)
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance LF (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
90+ dpd
Delinquency
180+ dpd
Overdue
1.0%
7.8%
NA
NA
NA
9.4
26.6%
3.0%
Apr-35
242
Sep-15
Jun-15
6
10.9%
10.9%
0.1%
0.0%
0.1%
0.0%
0.0%
8.8%
NA
NA
100.0%
NA
NA
99.6%
100.1%
83.6%
NA
>30
NA
NA
NA
7.3%
3
7.1%
7.1%
0.0%
0.0%
0.0%
0.0%
0.0%
8.4%
NA
NA
100.0%
NA
NA
99.0%
99.1%
83.6%
NA
NA
NA
NA
NA
5.3%
CCE
MCE
Collection Efficiency
BCE
120.0%
110.0%
0.5%
100.0%
90.0%
0.0%
80.0%
M1
M2
M3
M4
M5
M6
M1
M2
M3
M4
M5
M6
28
Equitas Micro Finance Private Limited (EMFPL)
(1 Pool)
Key Financial Indicators
For the year ended as on 31st March
Total Income (in Rs. Cr)
Profit After Tax (in Rs. Cr)
Tangible Net worth (in Rs. Cr)
Gross NPA ratio (%)
Capital Adequacy Ratio (CAR) %)
2012
(12m, A)
191
18
194
0.95
31.35
2013
(12m, A)
237
28
247
0.03
27.18
2014
(12m, A)
342
57
301
0.10
22.91
2015
(12m, A)
438
69
327
0.08
21.15
P*=Provisional, A=Audited

The gross NPA level was 0.10% as of 31st March, 2014 and 0.08% as of 31st March 2015.

The reported PAT in FY14 was Rs. 57crores, while in FY15 it was Rs.69 crores.

In FY14 the reported Total Income for the company was Rs. 342crores, while in FY15 it
was Rs. 438crores.
29
Issue Name
Originator
Rating/Credit Opinion
Asset Class
EMF Microloans Pool - Chatvaari - March 2014
Equitas Micro Finance Private Limited
Withdrawn
Microfinance Loan Receivables
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Weeks)
Average Seasoning' (Weeks)
Overdue Composition
Mar-14
Par
52.6
62.2
67,739
33.5
36.5
100%,0%
CC as % of initial POS
5.5%
First Loss Credit Facility
NA
Second Loss Credit Facility NA
LF as % of initial POS
NA
EIS
11.0%
OC
5.0%
Pool Maturity
Jan-16
Maturity (months)
22
Pool Performance
Months Post Securitisation
Balance Tenure (Months)
Pool Amortisation
PTC Principal Amortisation
30+ Delinquency (% of Initial POS)
90+ Delinquency (% of Initial POS)
30+ Delinquency (% of Balance POS)
90+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
CC as % of Balance PTC Principal
Balance CC (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Overall enhancement coverage (30+ DPD)
Overall enhancement coverage (90+ DPD)
Cumulative Prepayment
Delinquency
30+ dpd
Overdue
90+ dpd
0.10%
0.05%
0.00%
M1
M4
M7
M10
M13
M16
Aug-15
Jun-15
17
5
91.4%
96.2%
0.1%
0.0%
0.1%
0.1%
0.1%
63.9%
152.7%
100.0%
104.2%
152.4%
0.0%
NA
NA
8.0%
15
7
85.1%
89.6%
0.1%
0.0%
0.1%
0.0%
0.0%
37.0%
55.8%
100.0%
99.7%
99.9%
28.8%
>30
>30
7.2%
Collection Efficiency
120.00%
100.00%
80.00%
60.00%
40.00%
20.00%
0.00%
M1
M4
M7
CCE
MCE
M10
M13
BCE
M16
30
ESAF Microfinance and Investments Pvt. Ltd.
(EMFIPL – 7 Pool)
Key Financial Indicators
For the year ended as on 31st March
Total Income (in Rs. Cr)
Profit After Tax (in Rs. Cr)
Net worth (in Rs. Cr)
Gross NPA / Gross Advances (%)
Capital Adequacy Ratio (CAR)
2012
(12m, A)
65
4
55
1.26
20.45
2013
(12m, A)
81
5
62
0.92
19.37
2014
(12m, A)
121
10
130
1.28
25.20
2015
(3m, P)
40
5
135
1.12
21.13
P*=Provisional, A=Audited

Income of EMFIPL has increased by 49% Y-o-Y to Rs 121 crore backed by growth in AUM during the
above period.

Capital adequacy stood at healthy 25.20% comprising totally of Tier-I capital as on March 31, 2014.
EMFIPL raised Rs 56 crore through compulsory convertible preferential shares in FY14.

Gross NPA ratio stood at 1.28% as on March 31, 2014.
31
Issue Name
Originator
Rating/Credit Opinion
Asset Class
Cedar MFI Trust 15
ESAF Microfinance & Investments (P) Ltd
Series A PTC - CARE BBB (SO)
Microfinance Loans
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
PTC Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Weeks)
Average Seasoning' (Weeks)
Overdue Composition
Dec-14
Par
45.0
41.9
51.8
37,883
31.0
20.2
100%,0.0%
Months Post Securitisation
Balance Tenure (Months)
Pool Amortised
PTC Amortised
30+ Delinquency (% of Initial POS)
90+ Delinquency (% of Initial POS)
30+ Delinquency (% of Balance POS)
90+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
CC as % of Balance PTC Principal
Balance CC (unutilized)
Cummulative Collection Efficiency
MCE (3 month average)
Break even Collection Efficiency
Overall enhancement coverage (30+ DPD)
Overall enhancement coverage (90+ DPD)
Cumulative Prepayment
1.0%
30+ dpd
90+ dpd
Overdue
8.0%
NA
NA
LF as % of initial POS
NA
EIS
OC
Pool Maturity
Maturity (months)
Pool Performance
Delinquency
CC as % of initial POS
First Loss Credit Facility
Second Loss Credit Facility
8.2%
7.0%
Sep-16
21
Sep-15
Jun-15
9
12
68.4%
68.4%
0.2%
0.2%
0.3%
0.3%
0.1%
25.4%
27.3%
100.0%
99.4%
98.3%
62.9%
>30
>30
3.2%
6
15
52.7%
52.7%
0.1%
0.0%
0.2%
0.1%
0.1%
16.9%
18.2%
100.0%
99.6%
99.2%
68.4%
>30
>30
1.8%
Collection Efficiency
CCE
MCE
BCE
120.0%
100.0%
0.5%
80.0%
0.0%
60.0%
M1 M2 M3 M4 M5 M6 M7 M8 M9
M1
M2
M3
M4
M5
M6
32
Issue Name
Originator
Rating/Credit Opinion
Asset Class
Cedar MFI Trust 16
ESAF Microfinance & Investments (P) Ltd
Series A PTC - CARE BBB (SO)
Microfinance Loans
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
PTC Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Weeks)
Average Seasoning' (Weeks)
Overdue Composition
Dec-14
Par
20.0
18.8
23.5
13,892
34.7
20.6
100%,0.0%
Months Post Securitisation
Balance Tenure (Months)
Pool Amortised
PTC Amortised
30+ Delinquency (% of Initial POS)
90+ Delinquency (% of Initial POS)
30+ Delinquency (% of Balance POS)
90+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
CC as % of Balance PTC Principal
Balance CC (unutilized)
Cummulative Collection Efficiency
MCE (3 month average)
Break even Collection Efficiency
Overall enhancement coverage (30+ DPD)
Overall enhancement coverage (90+ DPD)
Cumulative Prepayment
1.0%
30+ dpd
Overdue
90+ dpd
8.0%
NA
NA
LF as % of initial POS
NA
EIS
OC
Pool Maturity
Maturity (months)
Pool Performance
Delinquency
CC as % of initial POS
First Loss Credit Facility
Second Loss Credit Facility
9.2%
6.0%
Sep-16
21
Sep-15
Jun-15
9
12
60.3%
60.3%
0.1%
0.1%
0.2%
0.1%
0.0%
20.2%
21.5%
100.0%
99.7%
99.5%
72.4%
>30
>30
2.1%
6
15
41.3%
41.3%
0.1%
0.0%
0.1%
0.1%
0.0%
13.6%
14.5%
100.0%
99.8%
99.6%
78.2%
>30
>30
0.5%
Collection Efficiency
CCE
MCE
BCE
120.0%
110.0%
100.0%
90.0%
80.0%
70.0%
0.5%
0.0%
M1 M2 M3 M4 M5 M6 M7 M8 M9
M1 M2 M3 M4 M5 M6 M7 M8 M9
33
Issue Name
Originator
Rating/Credit Opinion
Asset Class
Cedar MFI Trust 17
ESAF Microfinance & Investments (P) Ltd
Series A PTC - CARE BBB (SO)
Microfinance Loans
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
PTC Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Weeks)
Average Seasoning' (Weeks)
Overdue Composition
Jan-15
Par
25.0
23.5
29.5
16,492
35.4
13.8
100%,0.0%
Pool Performance
Months Post Securitisation
Balance Tenure (Months)
Pool Amortised
PTC Amortised
30+ Delinquency (% of Initial POS)
90+ Delinquency (% of Initial POS)
30+ Delinquency (% of Balance POS)
90+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
CC as % of Balance PTC Principal
Balance CC (unutilized)
Cummulative Collection Efficiency
MCE (3 month average)
Break even Collection Efficiency
Overall enhancement coverage (30+ DPD)
Overall enhancement coverage (90+ DPD)
Cumulative Prepayment
30+ dpd
Overdue
Delinquency
1.0%
90+ dpd
CC as % of initial POS
First Loss Credit Facility
Second Loss Credit Facility
7.8%
NA
NA
LF as % of initial POS
NA
EIS
OC
Pool Maturity
Maturity (months)
9.1%
6.0%
Oct-16
21
Sep-15
Jun-15
8
13
57.7%
57.7%
0.1%
0.0%
0.1%
0.0%
0.0%
18.4%
19.6%
100.0%
99.8%
99.7%
73.1%
>30
>30
2.6%
5
16
33.4%
33.4%
0.0%
0.0%
0.0%
0.0%
0.0%
11.7%
12.4%
100.0%
99.8%
99.7%
80.9%
NA
NA
0.2%
Collection Efficiency
CCE
BCE
MCE
120.0%
110.0%
100.0%
90.0%
80.0%
70.0%
0.5%
0.0%
M1
M2
M3
M4
M5
M6
M7
M8
M1 M2 M3 M4 M5 M6 M7 M8
34
Issue Name
Originator
Rating/Credit Opinion
Asset Class
Cedar MFI Trust 18
ESAF Microfinance & Investments (P) Ltd
Series A PTC - CARE BBB (SO)
Microfinance Loans
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
PTC Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Weeks)
Average Seasoning' (Weeks)
Overdue Composition
Feb-15
Par
85.1
80.0
99.8
55,828
37.4
15.2
100%,0.0%
Months Post Securitisation
Balance Tenure (Months)
Pool Amortised
PTC Amortised
30+ Delinquency (% of Initial POS)
90+ Delinquency (% of Initial POS)
30+ Delinquency (% of Balance POS)
90+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
CC as % of Balance PTC Principal
Balance CC (unutilized)
Cummulative Collection Efficiency
MCE (3 month average)
Break even Collection Efficiency
Overall enhancement coverage (30+ DPD)
Overall enhancement coverage (90+ DPD)
Cumulative Prepayment
30+ dpd
90+ dpd
1.0%
5.0%
NA
NA
LF as % of initial POS
NA
EIS
OC
Pool Maturity
Maturity (months)
Pool Performance
Delinquency
CC as % of initial POS
First Loss Credit Facility
Second Loss Credit Facility
10.1%
6.0%
Jan-17
23
Sep-15
Jun-15
7
16
54.7%
58.2%
0.1%
0.0%
0.1%
0.0%
0.0%
11.0%
12.7%
100.0%
99.7%
99.7%
67.9%
>30
NA
2.3%
4
19
29.5%
31.4%
0.0%
0.0%
0.0%
0.0%
0.0%
7.1%
7.8%
100.0%
99.8%
99.7%
77.3%
NA
NA
0.2%
CCE
MCE
Collection Efficiency
BCE
120.0%
100.0%
0.5%
80.0%
0.0%
60.0%
M1
M2
M3
M4
M5
M6
M7
M1
M2
M3
M4
M5
M6
M7
35
Issue Name
Originator
Rating/Credit Opinion
Asset Class
Cedar MFI Trust 19
ESAF Microfinance & Investments (P) Ltd
Series A PTC - CARE A- (SO)
Microfinance Loans
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
PTC Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Weeks)
Average Seasoning' (Weeks)
Overdue Composition
Feb-15
Par
32.5
29.9
36.8
22,780
26.4
54.3
100%,0.0%
Pool Performance
Months Post Securitisation
Balance Tenure (Months)
Pool Amortised
PTC Amortised
30+ Delinquency (% of Initial POS)
90+ Delinquency (% of Initial POS)
30+ Delinquency (% of Balance POS)
90+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
CC as % of Balance PTC Principal
Balance CC (unutilized)
Cummulative Collection Efficiency
MCE (3 month average)
Break even Collection Efficiency
Overall enhancement coverage (30+ DPD)
Overall enhancement coverage (90+ DPD)
Cumulative Prepayment
30+ dpd
Delinquency
90+ dpd
Overdue
1.0%
CC as % of initial POS
First Loss Credit Facility
Second Loss Credit Facility
6.0%
NA
NA
LF as % of initial POS
NA
EIS
OC
Pool Maturity
Maturity (months)
Sep-15
Jun-15
7
8
62.2%
74.7%
0.1%
0.0%
0.1%
0.0%
0.0%
15.9%
25.8%
100.0%
99.8%
99.9%
37.9%
>30
NA
5.4%
4
11
31.5%
38.6%
0.0%
0.0%
0.0%
0.0%
0.0%
8.8%
10.6%
100.0%
99.8%
99.8%
67.2%
NA
NA
1.1%
CCE
MCE
Collection Efficiecny
120.0%
100.0%
80.0%
60.0%
40.0%
20.0%
0.5%
0.0%
M1
M2
M3
M4
M5
M6
M7
8.2%
8.0%
May-16
15
M1
M2
M3
M4
M5
BCE
M6
M7
36
Issue Name
Originator
Rating/Credit Opinion
Asset Class
Cedar MFI Trust 20
ESAF Microfinance & Investments (P) Ltd
Series A1 PTC - CARE A- (SO) & Series A2 PTC - CARE B (SO)
Microfinance Loans
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Series A1 Principal
Feb-15
Par
64.6
60.0
Future Receivables (Rs Cr)
CC as % of initial POS
8.2%
First Loss Credit Facility
NA
Second Loss Credit Facility NA
LF as % of initial POS
NA
Series A2 Principal
4.60
(Subordinated to A1)
EIS
8.3%
OC
NA
Pool Maturity
Nov-16
Maturity (months)
21
74.2
No of Contracts
Average Maturity (Weeks)
Average Seasoning' (Weeks)
Overdue Composition
54,538
29.0
44.4
100%,0.0%
Pool Performance
Months Post Securitisation
Balance Tenure (Months)
Pool Amortised
Series A1 PTC Amortised
Series A2 PTC Amortised
30+ Delinquency (% of Initial POS)
90+ Delinquency (% of Initial POS)
30+ Delinquency (% of Balance POS)
90+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
CC as % of Balance PTC Principal
Balance CC (unutilized)
Cummulative Collection Efficiency
MCE (3 month average)
Break even Collection Efficiency
Overall enhancement coverage (30+ DPD)
Overall enhancement coverage (90+ DPD)
Cumulative Prepayment
30+ dpd
Overdue
Delinquency
1.0%
90+ dpd
Sep-15
Jun-15
7
14
54.4%
65.8%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
18.0%
21.1%
100.0%
99.8%
99.8%
60.9%
NA
NA
3.1%
4
17
30.0%
36.7%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
11.7%
12.5%
100.0%
99.9%
99.8%
76.3%
NA
NA
0.9%
CCE
MCE
Collection Efficiecny
120.0%
BCE
100.0%
0.5%
80.0%
0.0%
60.0%
M1
M2
M3
M4
M5
M6
M7
M1
M2
M3
M4
M5
M6
M7
37
Issue Name
Originator
Rating/Credit Opinion
Asset Class
Cedar MFI Trust 21
ESAF Microfinance & Investments (P) Ltd
Series A PTC - CARE BBB (SO)
Microfinance Loans
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Series A Principal
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Weeks)
Average Seasoning' (Weeks)
Overdue Composition
Mar-15
Par
35.04
33.29
40.48
30,541
31.0
28.22
100%,0.0%
Pool Performance
Months Post Securitisation
Balance Tenure (Months)
Pool Amortised
Series A PTC Amortised
30+ Delinquency (% of Initial POS)
90+ Delinquency (% of Initial POS)
30+ Delinquency (% of Balance POS)
90+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
CC as % of Balance PTC Principal
Balance CC (unutilized)
Cummulative Collection Efficiency
MCE (3 month average)
Break even Collection Efficiency
Overall enhancement coverage (30+ DPD)
Overall enhancement coverage (90+ DPD)
Cumulative Prepayment
30+ dpd
Overdue
Delinquency
1.0%
90+ dpd
CC as % of initial POS
4.0%
First Loss Credit Facility
NA
Second Loss Credit Facility NA
LF as % of initial POS
NA
EIS
9.1%
OC
5.0%
Pool
Dec-16
Maturity (months)
21
Sep-15
Jun-15
6
15
50.1%
58.4%
0.1%
0.0%
0.1%
0.0%
0.0%
8.0%
10.1%
100.0%
99.5%
99.6%
63.0%
>30
NA
3.4%
3
18
28.5%
33.0%
0.0%
0.0%
0.0%
0.0%
0.0%
5.6%
6.3%
100.0%
99.5%
99.5%
74.9%
NA
NA
1.7%
Collection Efficiecny
110.0%
100.0%
90.0%
80.0%
70.0%
60.0%
0.5%
0.0%
M3
M4
M5
M6
M7
M8
M3
M4
M5
CCE
MCE
M6
BCE
M7
M8
38
HDB Financial Services Limited
(HFSL – 5 Pools)
Key financial indicators
For the year ended as on 31st
March
Total Income (in Rs. Cr)
Profit After Tax (in Rs. Cr)
Net worth (in Rs. Cr)
Total Assets (in Rs. Cr)
Gross NPA ratio (%)
Capital Adequacy Ratio (CAR) (%)
2012
(12m, A)
432
51
757
4,054
0.10
19.94
2013
(12m, A)
963
102
841
8,379
0.44
18.34
2014
(12m, A)
1,688
209
1,568
13,630
0.81
18.40
2015
(12m, A)
2,527
350
3,044
19,762
0.84
23.05
P*=Provisional, A=Audited

Total income increased by 49.7% in FY15 to Rs.2,527 crore.

PAT increased by 67% to Rs.350 crore for FY15.

Gross NPA stood stable at 0.84% as on March 31, 2015

Total CAR also stood comfortably at 23.05% as on March 31, 2015 (FY14: 18.40%)
39
Issue Name
Originator
Rating/Credit Opinion
Asset Class
HFSL Direct Assignment Mar’12 I
HDB Financial Services Limited
Assignee Payout - CARE AAA (SO) Equivalent
HCV (84.52%), LCV (13.91%) and Others (1.57%)
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
Mar-12
Par
28.4
35.0
261
19.6
3.6
100%, 0%
CC as % of initial POS
16.0%
First Loss Credit Facility
NA
Second Loss Credit Facility
NA
LF as % of initial POS
NA
EIS
5.8%
OC
NA
Pool Maturity
Nov-16
Maturity (months)
56
Pool Performance
Months Post Securitisation
Balance Tenure (Months)
Amortisation
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
Delinquency
4.0%
90+ dpd
Overdue
180+ dpd
Sep-15
Jun-15
42
14
98.2%
1.4%
1.1%
27.1%
20.3%
1.5%
891.0%
NA
NA
100.0%
NA
NA
97.6%
106.7%
0.0%
NA
NA
NA
NA
NA
10.0%
39
17
94.8%
1.3%
1.2%
10.6%
9.4%
1.7%
308.5%
NA
NA
100.0%
NA
NA
97.4%
88.7%
0.0%
NA
NA
NA
NA
NA
9.4%
Collection Efficiency
CCE
MCE
BCE
120.0%
100.0%
80.0%
60.0%
40.0%
20.0%
0.0%
3.0%
2.0%
1.0%
0.0%
M1
M6 M11 M16 M21 M26 M31 M36 M41
M1 M6 M11 M16 M21 M26 M31 M36 M41
40
Issue Name
Originator
Rating/Credit Opinion
Asset Class
Venus Trust March 2013
HDB Financial Services Limited
Series A PTCs - CARE A (SO)
HCV (64%), LCV (34%) and SCV (2%)
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
Mar-13
Par
28.3
34.1
436
16.8
9.5
96.6%, 3.4%
CC as % of initial POS
7.5%
First Loss Credit Facility
NA
Second Loss Credit Facility
NA
LF as % of initial POS
NA
EIS
8.8%
OC
NA
Pool Maturity
Mar-17
Maturity (months)
48
Pool Performance
Months Post Securitisation
Balance Tenure (Months)
Amortisation
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
90+ dpd
Overdue
Delinquency
180+ dpd
5.0%
4.0%
3.0%
2.0%
1.0%
0.0%
Sep-15
Jun-15
30
18
89.9%
2.3%
1.5%
13.0%
7.7%
1.7%
78.8%
NA
NA
100.0%
NA
NA
98.6%
94.4%
21.0%
NA
6.1
10.2
NA
NA
12.2%
27
21
84.3%
2.2%
1.4%
8.3%
4.4%
1.7%
50.9%
NA
NA
100.0%
NA
NA
98.8%
103.4%
49.6%
NA
6.1
11.4
NA
NA
11.2%
Collection Efficiency
CCE
MCE
BCE
140.0%
120.0%
100.0%
80.0%
60.0%
40.0%
20.0%
M1
M6
M11
M16
M21
M26
M1
M6
M11 M16
M21 M26
41
Issue Name
Originator
Rating/Credit Opinion
Asset Class
Venus Trust March 2014
HDB Financial Services Limited
Series A PTCs - CARE AA (SO)
HCV (53.5%), LCV (31.4%), SCV (5.9%) and CE (9.2%)
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
Mar-14
Par
145.9
172.6
2,916
15.2
13.1
100%, 0.0%
CC as % of initial POS
9.5%
First Loss Credit Facility
NA
Second Loss Credit Facility
NA
LF as % of initial POS
NA
EIS
8.0%
OC
NA
Pool Maturity
Feb-18
Maturity (months)
48
Pool Performance
Months Post Securitisation
Balance Tenure (Months)
Amortisation
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
Delinquency
90+ dpd
Overdue
180+ dpd
2.0%
Sep-15
Jun-15
18
30
65.0%
1.3%
0.6%
2.7%
1.0%
1.1%
30.8%
NA
0.0%
107.7%
NA
NA
97.2%
97.6%
67.9%
NA
12.1
>30
NA
NA
6.2%
15
33
54.8%
1.0%
0.6%
1.5%
0.9%
1.0%
21.0%
NA
NA
100.0%
NA
NA
97.1%
96.2%
76.5%
NA
15.7
>30
NA
NA
4.9%
Collection Efficiency
120.0%
CCE
MCE
BCE
100.0%
1.0%
80.0%
60.0%
0.0%
M1 M3 M5 M7 M9 M11 M13 M15 M17
M1 M3 M5 M7 M9 M11M13M15M17
42
Issue Name
Originator
Rating/Credi Opinion
Asset Class
Venus Trust March 2015
HDB Financial Services Limited
Series A PTCs - CARE A (SO)
CV (45.25%), CE (47.73%) and Others (7.02%)
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
Mar-15
Par
210.4
249.0
3,736
14.2
12.3
95.40%, 4.60%
CC as % of initial POS
7.0%
First Loss Credit Facility
NA
Second Loss Credit Facility
NA
LF as % of initial POS
NA
EIS
9.7%
OC
NA
Pool Maturity
Mar-19
Maturity (months)
48
Pool Performance
Months Post Securitisation
Balance Tenure (Months)
Amortisation
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
Delinquency
90+ dpd
Overdue
180+ dpd
1.0%
Sep-15
Jun-15
6
42
23.5%
0.3%
0.0%
0.3%
0.0%
0.8%
9.1%
NA
NA
100.0%
NA
NA
96.3%
NA
84.7%
NA
>30
NA
NA
NA
2.0%
3
45
11.5%
0.1%
0.0%
0.1%
0.0%
0.5%
7.9%
NA
NA
100.0%
NA
NA
96.1%
NA
85.2%
NA
>30
NA
NA
NA
0.9%
Collection Efficiency
CCE
MCE
BCE
110.0%
100.0%
0.5%
90.0%
80.0%
0.0%
M1
M3
M5
M1
M3
M5
43
Issue Name
Originator
Rating/Credi Opinion
Asset Class
Venus Trust June 2015
HDB Financial Services Limited
Series A PTCs - CARE AA (SO)
CV (74.20%), CE (23.08%) and Others (2.72%)
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
Jun-15
Par
777.05
897.97
15,872
12.8
16.8
95.17%, 4.83%
Pool Performance
Months Post Securitisation
Balance Tenure (Months)
Amortisation
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
CC as % of initial POS
9.0%
First Loss Credit Facility
NA
Second Loss Credit Facility NA
LF as % of initial POS
NA
EIS
5.9%
OC
NA
Pool Maturity
Oct-19
Maturity (months)
53
Sep-15
Jun-15
3
50
14.8%
0.1%
0.0%
0.1%
0.0%
0.6%
10.6%
NA
NA
100.0%
NA
NA
97.5%
NA
85.7%
NA
>30
NA
NA
NA
1.4%
-
44
HDFC Ltd – 9 (Pools)
Key Financial Indicators
For the year ended as on 31st March
Total Income (in Rs. Cr)
Profit After Tax (in Rs. Cr)
Net worth (in Rs. Cr)
Gross NPA (%)
Capital Adequacy Ratio (CAR)
2012
(12m, A)
17,354
4,123
18,389
0.74
14.6
2013
(12m, A)
21,148
4,848
24,369
0.7
16.4
2014
(12m, A)
24,143
5,440
27,325
0.69
14.6
2015
(12m, A)
27,401
5,990
30,655
0.67
16.0
P*=Provisional, A=Audited

HDFC reported 15% growth in the PAT y-o-y at Rs. 5,990crores as on 31st March 2015.

As on 31st March 2015 the Total Income was Rs. 27,401crores.

HDFC reported Gross NPA ratio of 0.67% as on March 31, 2015.

HDFC reported Capital Adequacy Ratio (CAR) of 16.0% (Tier I CAR: 12.3%) as on March
31, 2015.
45
Issue Name
Originator
Rating/Credit Opinion
Asset Class
HDFC's Assignment of Receivables of Mar' 09
HDFC Limited
Assignee Payout - CARE AAA (SO) Equivalent
Second Loss Facility - A+ (SO) Equivalent
Housing Loan
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
Mar-09
Par
1032.0
2105.5
14,764
94.0
19.2
83.6%, 16.4%
Pool Performance
Months Post Securitisation
Amortisation
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
Delinquency
1.0%
90+ dpd
Overdue
180+ dpd
CC as % of initial POS
7.5%
First Loss Credit Facility
2.5%
Second Loss Credit Facility 5.0%
LF as % of initial POS
NA
EIS
25.9%
OC
Nil
Pool Maturity
Feb-34
Maturity (months)
299
Sep-15
Jun-15
78
76.8%
0.3%
0.2%
1.1%
0.6%
0.2%
32.3%
10.8%
NA
100.0%
100.0%
NA
99.8%
100.2%
71.2%
85.0%
27.2
>30
14.2
23.4
45.7%
75
75.2%
0.3%
0.2%
1.1%
0.6%
0.2%
30.2%
10.1%
NA
100.0%
100.0%
NA
99.7%
100.1%
72.8%
85.5%
25.8
>30
13.8
26.4
44.9%
Collection Efficiency
CCE
MCE
BCE
120.0%
100.0%
0.5%
80.0%
60.0%
0.0%
M1 M10 M19 M28 M37 M46 M55 M64 M73
M1 M10 M19 M28 M37 M46 M55 M64 M73
46
Issue Name
Originator
Rating/Credit Opinion
Asset Class
HDFC's Assignment of Receivables of May' 09-I
HDFC Limited
Assignee Payout - CARE AAA (SO) Equivalent
Second Loss Facility - A+ (SO) Equivalent
Housing Loan
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
May-09
Par
362.2
678.4
3,945
89.3
2.4
95.3%,4.4%,0.3%
Pool Performance
Months Post Securitisation
Amortisation
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
Delinquency
1.0%
90+ dpd
Overdue
180+ dpd
CC as % of initial POS
12.0%
First Loss Credit Facility
5.5%
Second Loss Credit Facility 6.5%
LF as % of initial POS
NA
EIS
11.2%
OC
Nil
Pool Maturity
Jan-30
Maturity (months)
248
Sep-15
Jun-15
76
67.1%
0.9%
0.3%
2.3%
0.6%
0.3%
36.5%
16.7%
NA
100.0%
100.0%
NA
99.6%
101.7%
73.7%
85.4%
11.4
>30
6.3
24.1
38.8%
73
65.1%
0.9%
0.3%
2.1%
0.6%
0.3%
34.5%
15.8%
NA
100.0%
100.0%
NA
99.5%
100.8%
75.2%
86.1%
11.7
>30
6.6
22.2
37.7%
Collection Efficiency
CCE
MCE
BCE
120.0%
100.0%
0.5%
80.0%
60.0%
0.0%
M1 M10 M19 M28 M37 M46 M55 M64 M73
M1 M10 M19 M28 M37 M46 M55 M64 M73
47
Issue Name
Originator
Rating/Credit Opinion
Asset Class
HDFC's Assignment of Receivables of May' 09-II
HDFC Limited
Assignee Payout - CARE AAA (SO) Equivalent
Second Loss Facility - A+ (SO) Equivalent
Housing Loan
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
May-09
Par
1013.2
2040.7
3,384
95.4
7.4
95.9%,3.8%,0.3%
Pool Performance
Months Post Securitisation
Amortisation
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
Delinquency
1.0%
90+ dpd
Overdue
180+ dpd
CC as % of initial POS
10.0%
First Loss Credit Facility
4.3%
Second Loss Credit Facility 5.8%
LF as % of initial POS
NA
EIS
12.4%
OC
Nil
Pool Maturity
Nov-33
Maturity (months)
294
Sep-15
Jun-15
76
75.0%
0.5%
0.3%
1.6%
1.0%
0.3%
40.0%
17.0%
NA
100.0%
100.0%
NA
99.6%
101.4%
70.7%
85.0%
18.4
29.6
9.4
15.1
50.2%
73
73.2%
0.6%
0.3%
1.8%
0.8%
0.3%
37.4%
15.9%
NA
100.0%
100.0%
NA
99.6%
100.0%
72.7%
85.9%
15.4
>30
8.0
18.0
49.3%
Collection Efficiency
120.0%
CCE
MCE
BCE
100.0%
0.5%
80.0%
60.0%
0.0%
M1 M10 M19 M28 M37 M46 M55 M64 M73
M1 M10 M19 M28 M37 M46 M55 M64 M73
48
Issue Name
Originator
Rating/Credit Opinion
Asset Class
HDFC's Assignment of Receivables of Dec' 09-I
HDFC Limited
Assignee Payout - CARE AAA (SO) Equivalent
Second Loss Facility - A+ (SO) Equivalent
Housing Loan
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
Dec-09
Par
238.6
430.6
3,243
84.6
8.3
99.8%, 0.2%
CC as % of initial POS
12.9%
First Loss Credit Facility
5.7%
Second Loss Credit Facility 7.2%
LF as % of initial POS
NA
EIS
9.8%
OC
Nil
Pool Maturity
Sep-29
Maturity (months)
240
Pool Performance
Months Post Securitisation
Amortisation
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
Delinquency
1.0%
90+ dpd
Overdue
180+ dpd
Sep-15
Jun-15
70
65.6%
0.5%
0.2%
1.3%
0.6%
0.2%
37.5%
16.7%
NA
100.0%
100.0%
NA
99.9%
101.3%
73.9%
86.3%
20.2
>30
10.6
23.1
38.2%
67
63.8%
0.6%
0.3%
1.4%
0.8%
0.3%
35.6%
15.9%
NA
100.0%
100.0%
NA
99.9%
99.3%
75.3%
87.0%
17.2
>30
9.1
17.0
37.4%
Collection Efficiency
CCE
MCE
BCE
120.0%
100.0%
0.5%
80.0%
0.0%
60.0%
M1 M10 M19 M28 M37 M46 M55 M64
M1 M10 M19 M28 M37 M46 M55 M64
49
Issue Name
Originator
Rating/Credit Opinion
Asset Class
HDFC's Assignment of Receivables of Dec' 09-II
HDFC Limited
Assignee Payout - CARE AAA (SO) Equivalent
Second Loss Facility - A+ (SO) Equivalent
Housing Loan
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
Dec-09
Par
759.5
1344.3
13,248
76.4
36.2
99.7%, 0.3%
CC as % of initial POS
9.8%
First Loss Credit Facility
3.7%
Second Loss Credit Facility 6.1%
LF as % of initial POS
NA
EIS
14.5%
OC
Nil
Pool Maturity
Aug-30
Maturity (months)
251
Pool Performance
Months Post Securitisation
Amortisation
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
Delinquency
1.0%
90+ dpd
Overdue
180+ dpd
Sep-15
Jun-15
70
74.1%
0.5%
0.1%
1.5%
0.4%
0.2%
37.6%
14.5%
NA
100.0%
100.0%
NA
99.7%
100.3%
70.2%
85.2%
19.3
>30
9.6
>30
42.5%
67
72.4%
0.5%
0.1%
1.5%
0.4%
0.2%
35.3%
13.6%
NA
100.0%
100.0%
NA
99.7%
100.2%
72.1%
85.9%
18.6
>30
9.40
>30
41.7%
Collection Efficiency
CCE
MCE
BCE
120.0%
100.0%
0.5%
80.0%
0.0%
60.0%
M1 M10 M19 M28 M37 M46 M55 M64
M1 M10 M19 M28 M37 M46 M55 M64
50
Issue Name
Originator
HDFC Direct Assignment Oct' 10-I
HDFC Limited
Assignee Payout - CARE AAA (SO) Equivalent
Rating/Credit Opinion
Second Loss Facility - BBB (SO) Equivalent
Asset Class
Housing Loan
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
Nov-10
Par
316.3
572.1
2,982
97.7
2.3
91.7%, 8.2%, 0.1%
Pool Performance
Months Post Securitisation
Amortisation
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
Delinquency
1.0%
90+ dpd
Overdue
180+ dpd
CC as % of initial POS
10.5%
First Loss Credit Facility
4.2%
Second Loss Credit Facility 6.3%
LF as % of initial POS
NA
EIS
12.0%
OC
Nil
Pool Maturity
Aug-30
Maturity (months)
238
Sep-15
Jun-15
59
47.3%
0.3%
0.2%
0.5%
0.3%
0.2%
19.9%
8.0%
NA
100.0%
100.0%
NA
99.8%
100.7%
83.5%
90.4%
>30
>30
17.8
>30
28.8%
56
44.7%
0.4%
0.1%
0.7%
0.1%
0.2%
19.0%
7.6%
NA
100.0%
100.0%
NA
99.8%
99.7%
84.2%
90.7%
23.0
>30
13.5
>30
27.3%
Collection Efficiency
CCE
MCE
BCE
120.0%
100.0%
0.5%
80.0%
0.0%
60.0%
M1
M9
M17 M25 M33 M41 M49 M57
M1 M9 M17 M25 M33 M41 M49 M57
51
Issue Name
Originator
Rating/Credit Opinion
Asset Class
HDFC Direct Assignment Oct' 10-II
HDFC Limited
Assignee Payout - CARE AAA (SO) Equivalent
Second Loss Facility - BBB (SO) Equivalent
Housing Loan
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
Nov-10
Par
1042.4
1850.5
9,974
95.4
1.1
91.4%, 8.6%
CC as % of initial POS
10.5%
First Loss Credit Facility
4.2%
Second Loss Credit Facility 6.3%
LF as % of initial POS
NA
EIS
12.0%
OC
Nil
Pool Maturity
Aug-30
Maturity (months)
238
Pool Performance
Months Post Securitisation
Amortisation
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
Delinquency
1.0%
90+ dpd
Overdue
180+ dpd
Sep-15
Jun-15
59
54.4%
0.6%
0.3%
1.1%
0.4%
0.2%
23.0%
9.2%
NA
100.0%
100.0%
NA
99.8%
100.0%
81.6%
89.8%
16.5
>30
9.2
24.2
32.7%
56
52.0%
0.5%
0.2%
0.9%
0.3%
0.2%
21.9%
8.8%
NA
100.0%
100.0%
NA
99.8%
99.8%
82.6%
90.1%
18.6
>30
10.5
>30
31.3%
Collection Efficiency
CCE
MCE
BCE
110.0%
100.0%
0.5%
90.0%
0.0%
80.0%
M1
M9
M17 M25 M33 M41 M49 M57
M1 M9 M17 M25 M33 M41 M49 M57
52
Issue Name
Originator
HDFC Direct Assignment Sep' 11
HDFC Limited
Assignee Payout - CARE AAA (SO) Equivalent
Rating/Credit Opinion
Second Loss Facility - BBB (SO) Equivalent
Asset Class
Housing Loan
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
Sep-11
Par
600.0
1270.4
4,191
102.1
11.0
94.72%,5.13%, 0.15%
CC as % of initial POS
9.3%
First Loss Credit Facility
4.1%
Second Loss Credit Facility 5.2%
LF as % of initial POS
NA
EIS
7.6%
OC
Nil
Pool Maturity
Dec-34
Maturity (months)
278
Pool Performance
Months Post Securitisation
Amortisation
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
Delinquency
1.0%
90+ dpd
Overdue
180+ dpd
Sep-15
Jun-15
48
45.0%
0.4%
0.2%
0.7%
0.2%
0.2%
16.9%
7.5%
NA
100.0%
100.0%
NA
99.9%
99.9%
87.5%
92.9%
18.8
>30
10.8
>30
29.3%
45
42.7%
0.4%
0.1%
0.7%
0.2%
0.2%
16.2%
7.2%
NA
100.0%
100.0%
NA
99.9%
100.2%
88.1%
93.1%
17.4
>30
10.1
>30
28.0%
Collection Efficiency
110.0%
CCE
MCE
BCE
100.0%
0.5%
90.0%
80.0%
0.0%
M1
M8
M15 M22 M29 M36 M43
M1
M8 M15 M22 M29 M36 M43
53
54
Hinduja Leyland Finance Ltd - 3 (Pools)
Key Financial Indicators
For the year ended as on 31st March
Total Income (in Rs. Cr)
Profit After Tax (in Rs. Cr)
Net worth (in Rs. Cr)
Gross NPA (%)
Capital Adequacy Ratio (CAR)
2012
(12m, A)
324
84
430
1.25
15.77
2013
2014
2015
(12m, A) (12m, A) (12m, A)
814
499
625
112
91
81
896
520
794
3.62
2.43
3.20
19.67
15.95
20.42
P*=Provisional, A=Audited

During FY15, HLF registered 30% growth in total income driven by strong growth in AUM.

Gross NPA increased from Rs.3.20% on March 31, 2014 to 3.62% as on March 31, 2015.

HLF has maintained capital adequacy above the NBFC’s regulatory requirement. HLF
reported CAR of 19.67% as on March 31, 2015 as compared to 20.42% as on March 31,
2014.
55
Issue Name
Originator
HLF CV Trust September 2013
Hinduja Leyland Finance Ltd.
Rating/Credit Opinion
Asset Class
Series A PTCs - CARE AA (SO)
& Second Loss Facility - CARE BBB (SO) Equivalent
MHCV (50.88%), SCV (23.55%),CE (12.48),Buses (6.55%) & LCV (6.54%)
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Weeks)
Average Seasoning' (Weeks)
Overdue Composition
Sep-13
Par
213.9
256.2
3,615
16.5
9.8
96.44%, 3.56%
Pool Performance
Months Post Securitisation
Balance Tenure (Months)
Amortisation
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
90+ dpd
Overdue
Delinquency
180+ dpd
CC as % of initial POS
16.0%
First Loss Credit Facility
10.0%
Second Loss Credit Facility 6.0%
LF as % of initial POS
NA
EIS
7.6%
OC
NA
Pool Maturity
Feb-18
Maturity (months)
53
Sep-15
Jun-15
24
29
75.6%
3.9%
2.0%
8.3%
3.7%
3.7%
65.5%
40.9%
NA
100.0%
100.0%
NA
93.9%
93.9%
34.9%
56.5%
7.8
17.6
5.2
11.8
5.8%
21
32
67.8%
4.3%
2.1%
8.1%
3.5%
3.3%
49.4%
30.7%
NA
99.3%
98.9%
NA
93.9%
96.5%
49.9%
66.3%
6.2
14.3
4.2
9.6
5.3%
Collection Efficiency
110.0%
6.00%
CCE
MCE
BCE
90.0%
4.00%
70.0%
2.00%
50.0%
0.00%
30.0%
M1
M5
M9
M13
M17
M21
M1
M5
M9
M13 M17 M21
56
Issue Name
Originator
Rating/Credit Opinion
Asset Class
Aeries CV Trust March 2014
Hinduja Leyland Finance Ltd.
Series A PTCs - CARE AA (SO)
MHCV (34.13%), SCV (18.48%),MUV (15.60%), CE (7.03%), Others (24.76%)
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Weeks)
Average Seasoning' (Weeks)
Overdue Composition
Mar-14
Par
283.6
338.3
7,074
15.8
11.0
93.31%, 6.69%
Pool Performance
Months Post Securitisation
Balance Tenure (Months)
Amortisation
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
Delinquency
90+ dpd
Overdue
180+ dpd
Sep-15
Jun-15
18
36
62.4%
2.6%
1.4%
4.3%
2.1%
1.9%
36.5%
NA
NA
100.0%
NA
NA
95.8%
97.0%
60.4%
NA
9.3
18.5
NA
NA
4.7%
15
39
52.9%
2.3%
1.0%
3.5%
1.3%
1.7%
29.2%
NA
NA
100.0%
NA
NA
95.6%
96.2%
67.7%
NA
9.2
24.7
NA
NA
3.8%
CCE
MCE
Collection Efficiency
3.00%
110.00%
2.00%
90.00%
1.00%
70.00%
0.00%
CC as % of initial POS
13.8%
First Loss Credit Facility
NA
Second Loss Credit Facility NA
LF as % of initial POS
NA
EIS
8.2%
OC
NA
Pool Maturity
Sep-18
Maturity (months)
54
BCE
50.00%
M1
M5
M9
M13
M17
M1
M5
M9
M13
M17
57
Issue Name
Originator
Rating/Credit Opinion
Asset Class
Aeries CV Trust March 2015
Hinduja Leyland Finance Ltd.
Series A PTCs - CARE AAA (SO)
MHCV (48.24%),SCV (20.12%),LCV(8.31%),Tractor(8.16%),Others (15.19%)
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
Mar-15
Par
204.5
241.0
4,682
16.0
14.2
99.05%, 0.95%
Pool Performance
Months Post Securitisation
Balance Tenure (Months)
Amortisation
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
Delinquency
90+ dpd
Overdue
180+ dpd
CC as % of initial POS
14.0%
First Loss Credit Facility
NA
Second Loss Credit Facility NA
LF as % of initial POS
NA
EIS
7.2%
OC
NA
Pool Maturity
Mar-19
Maturity (months)
48
Sep-15
Jun-15
6
42
34.6%
0.0%
0.0%
0.1%
0.0%
1.2%
21.4%
NA
NA
100.0%
NA
NA
93.8%
97.1%
72.3%
NA
>30
NA
NA
NA
15.9%
3
45
22.3%
0.1%
0.0%
0.1%
0.0%
1.0%
17.9%
NA
NA
99.4%
NA
NA
91.2%
91.7%
78.7%
NA
>30
NA
NA
NA
11.7%
Collection Efficiency
110.00%
2.00%
CCE
MCE
BCE
100.00%
1.00%
90.00%
80.00%
0.00%
70.00%
M1
M3
M5
M1
M3
M5
58
Indiabulls Housing Finance Company Ltd – 12
(Pools)
Key Financial Indicators
For the year ended as on 31st March
Total Income (in Rs. Cr)
Profit After Tax (in Rs. Cr)
Net worth (in Rs. Cr)
Gross NPA (%)
Capital Adequacy Ratio (%)
2012
(12m, A)
3,846
1,006
4,793
0.86
18.86
2013
(12m, A)
4,778
1,266
5,003
0.88
18.47
2014
(12m, A)
5,961
1,569
5,452
0.96
19.14
2015
(12m, A)
7,270
1,901
5,723
0.85
18.36%
P*=Provisional, A=Audited

Net profit (PAT) for the FY15 period stood at Rs.1,901 crore on a total income of
Rs.7,270 crore.

Asset quality has remained stable during the FY15 period with Gross and Net NPA at
0.85% and 0.36% as on March 31, 2015.

The entity has a comfortable capital adequacy ratio with Total CAR at 18.36% with Tier-I
CAR at 15.25% as on March 31, 2015.
59
Issue Name
Originator
Rating/Credit Opinion
Asset Class
IBFSL Direct Assignment – Dec ’11 I
Indiabulls Housing Finance Ltd.
Assignee Payout - CARE AA+ (SO) Equivalent
Loan against Property
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
Dec-11
Par
250.3
496.8
383
65.9
7.4
100.0%, 0.0%
Pool Performance
Months Post Securitisation
Amortisation
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
Delinquency
2.0%
90+ dpd
Overdue
180+ dpd
CC as % of initial POS
20.9%
First Loss Credit Facility
NA
Second Loss Credit Facility NA
LF as % of initial POS
NA
EIS
24.8%
OC
NA
Pool Maturity
Jun-28
Maturity (months)
199
Sep-15
Jun-15
45
77.8%
1.3%
0.1%
5.3%
0.3%
0.1%
94.3%
NA
NA
100.0%
NA
NA
99.4%
102.6%
29.9%
NA
13.2
>30
NA
NA
60.9%
42
74.8%
1.2%
0.1%
4.3%
0.2%
0.3%
82.8%
NA
NA
100.0%
NA
NA
99.3%
95.6%
37.3%
NA
>30
>30
NA
NA
58.5%
Collection Efficiency
CCE
BCE
MCE
120.0%
100.0%
80.0%
60.0%
40.0%
20.0%
1.0%
0.0%
M1 M6 M11 M16 M21 M26 M31 M36 M41
M1 M6 M11M16M21M26M31M36M41
60
Issue Name
Originator
Rating/Credit Opinion
Asset Class
IBFSL Direct Assignment- Feb ’12 I
Indiabulls Housing Finance Ltd.
Assignee Payout - CARE AA+ (SO) Equivalent
Loan against Property
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
Mar-12
Par
222.3
492.2
454
76.0
12.1
100.0%, 0.0%
Pool Performance
Months Post Securitisation
Amortisation
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
Delinquency
1.00%
90+ dpd
Overdue
180+ dpd
CC as % of initial POS
20.0%
First Loss Credit Facility
NA
Second Loss Credit Facility NA
LF as % of initial POS
NA
EIS
38.3%
OC
NA
Pool Maturity
Dec-31
Maturity (months)
239
Sep-15
Jun-15
42
79.8%
0.1%
0.0%
0.3%
0.2%
0.2%
99.0%
NA
NA
100.0%
NA
NA
99.5%
109.5%
31.0%
NA
>30
>30
NA
NA
67.8%
39
78.2%
0.5%
0.0%
2.0%
0.2%
0.3%
91.8%
NA
NA
100.0%
NA
NA
99.1%
96.8%
35.1%
NA
>30
>30
NA
NA
66.8%
Collection Efficiency
CCE
MCE
BCE
150.0%
120.0%
0.50%
90.0%
60.0%
30.0%
0.00%
M1 M6 M11 M16 M21 M26 M31 M36 M41
M1 M6 M11M16M21M26M31M36M41
61
Issue Name
Originator
Rating/Credit Opinion
Asset Class
IBFSL Direct Assignment- Sep ’11 I
Indiabulls Housing Finance Ltd.
Assignee Payout - CARE AA+ (SO) Equivalent
Loan against Property
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
Sep-11
Par
335.5
707.8
600
67.8
13.2
100.0%, 0.0%
Pool Performance
Months Post Securitisation
Amortisation
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
Delinquency
2.0%
90+ dpd
Overdue
180+ dpd
0.0%
M1
M7 M13 M19 M25 M31 M37 M43
Sep-15
Jun-15
48
81.1%
0.4%
0.0%
2.0%
0.0%
0.1%
103.4%
NA
NA
100.0%
NA
NA
98.4%
103.2%
25.5%
NA
>30
NA
NA
NA
68.4%
45
78.1%
0.8%
0.0%
3.5%
0.0%
0.2%
89.1%
NA
NA
100.0%
NA
NA
98.2%
99.1%
34.1%
NA
18.7
NA
NA
NA
65.9%
Collection Efficiency
120.0%
100.0%
80.0%
60.0%
40.0%
20.0%
1.0%
CC as % of initial POS
19.5%
First Loss Credit Facility
NA
Second Loss Credit Facility NA
LF as % of initial POS
NA
EIS
34.6%
OC
NA
Pool Maturity
Jan-26
Maturity (months)
173
CCE
MCE
BCE
M4 M10 M16 M22 M28 M34 M40 M46
62
Issue Name
Originator
Rating/Credit Opinion
Asset Class
IBFSL Direct Assignment- Mar ’12 II
Indiabulls Housing Finance Ltd.
Assignee Payout - CARE AA+ (SO)Equivalent,
Second Loss Facility - CARE BBB (SO) Equivalent
Loan against Property
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
Mar-12
Par
259.6
486.6
374
59.7
12.1
100%, 0%
CC as % of initial POS
First Loss Credit Facility
Second Loss Credit Facility
LF as % of initial POS
EIS
OC
Pool Maturity
Maturity (months)
Pool Performance
Months Post Securitisation
Amortisation
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
Delinquency
1.0%
90+ dpd
Overdue
180+ dpd
Sep-15
Jun-15
42
76.9%
0.0%
0.0%
0.2%
0.2%
0.1%
86.1%
34.6%
NA
100.0%
100.0%
NA
99.6%
100.7%
37.0%
68.4%
>30
>30
>30
>30
58.5%
39
74.4%
0.0%
0.0%
0.1%
0.1%
0.1%
77.8%
31.3%
NA
100.0%
100.0%
NA
99.5%
101.0%
42.5%
70.5%
>30
>30
>30
>30
56.8%
Collection Efficiency
120.0%
19.9%
8.0%
11.9%
NA
23.8%
NA
Dec-26
177
CCE
MCE
BCE
90.0%
0.5%
60.0%
30.0%
0.0%
M7 M12 M17 M22 M27 M32 M37 M42 M47
M7 M12 M17 M22 M27 M32 M37 M42 M47
63
Issue Name
Originator
Rating/Credit Opinion
Asset Class
Innovation Trust-VIII Mar 13
Indiabulls Housing Finance Ltd.
Series A1 PTC - CARE AA+ (SO)
Loan against Property
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
Mar-13
Par
102.4
181.9
187
58.3
15.5
100%, 0%
CC as % of initial POS
13.3%
First Loss Credit Facility
NA
Second Loss Credit Facility NA
LF as % of initial POS
NA
EIS
32.4%
OC
NA
Pool Maturity
Apr-30
Maturity (months)
205
Pool Performance
Months Post Securitisation
Amortisation
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
90+ dpd
Overdue
Delinquency
2.5%
2.0%
1.5%
1.0%
0.5%
0.0%
180+ dpd
Sep-15
Jun-15
30
70.7%
0.0%
0.0%
0.0%
0.0%
0.1%
45.2%
NA
NA
100.0%
0.0%
NA
99.3%
98.2%
54.4%
NA
NA
NA
NA
NA
56.6%
27
63.2%
1.7%
0.0%
4.4%
0.0%
0.1%
36.0%
NA
NA
100.0%
NA
NA
99.4%
96.2%
60.4%
NA
9.04
NA
NA
NA
50.0%
Collection Efficiency
CCE
MCE
BCE
120.0%
100.0%
80.0%
60.0%
40.0%
M1
M6
M11
M16
M21
M26
M1
M6
M11 M16 M21 M26
64
Issue Name
Originator
Rating/Credit Opinion
Asset Class
Innovation Trust-XI Mar 13
Indiabulls Housing Finance Ltd.
Series A1 PTC - CARE AA- (SO)
Loan against Property
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
Mar-13
Par
493.2
932.3
581
66.5
20.9
100%, 0%
CC as % of initial POS
10.8%
First Loss Credit Facility
NA
Second Loss Credit Facility NA
LF as % of initial POS
NA
EIS
25.1%
OC
NA
Pool Maturity
Aug-45
Maturity (months)
389
Pool Performance
Months Post Securitisation
Amortisation
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
90+ dpd
Overdue
Delinquency
1.0%
180+ dpd
Sep-15
Jun-15
30
67.8%
0.7%
0.0%
2.1%
0.0%
0.1%
37.2%
NA
NA
100.0%
NA
NA
99.1%
97.6%
66.6%
NA
16.2
NA
NA
NA
51.3%
27
64.4%
0.6%
0.0%
1.6%
0.0%
0.1%
33.7%
NA
NA
100.0%
NA
NA
99.2%
100.9%
68.2%
NA
20.3
NA
NA
NA
48.8%
Collection Efficiency
CCE
MCE
BCE
120.0%
100.0%
0.5%
80.0%
0.0%
60.0%
M1
M6
M11
M16
M21
M26
M1
M6
M11 M16 M21 M26
65
Issue Name
Originator
Rating/Credit Opinion
Asset Class
Innovation Trust-XV Dec 13
Indiabulls Housing Finance Ltd.
Series A PTC - CARE AA (SO)
Loan against Property
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
Dec-13
Par
98.6
184.4
124
58.7
19.0
100%, 0%
CC as % of initial POS
14.5%
First Loss Credit Facility
NA
Second Loss Credit Facility NA
LF as % of initial POS
NA
EIS
39.3%
OC
NA
Pool Maturity
Aug-33
Maturity (months)
236
Pool Performance
Sep-15
Jun-15
21
59.4%
0.4%
0.0%
0.9%
0.0%
0.2%
35.7%
NA
NA
100.0%
NA
NA
99.3%
103.4%
59.8%
NA
>30
NA
NA
NA
50.9%
18
52.7%
0.0%
0.0%
0.0%
0.0%
0.2%
30.7%
NA
NA
100.0%
NA
NA
98.8%
100.3%
62.7%
NA
NA
NA
NA
NA
45.2%
Months Post Securitisation
Amortisation
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
90+ dpd
Overdue
Delinquency
1.00%
180+ dpd
Collection Efficiency
CCE
MCE
BCE
120.0%
100.0%
0.50%
80.0%
60.0%
0.00%
M1
M4
M7
M10 M13 M16 M19
M1
M4
M7 M10 M13 M16 M19
66
Issue Name
Originator
Rating/Credit Opinion
Asset Class
Innovation Trust-XIX Mar' 14
Indiabulls Housing Finance Ltd.
Series A PTC - CARE AA (SO)
Loan against Property
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
Mar-14
Par
385.0
713.7
575
58.3
19.5
100%, 0%
CC as % of initial POS
9.0%
First Loss Credit Facility
NA
Second Loss Credit Facility NA
LF as % of initial POS
NA
EIS
36.5%
OC
NA
Pool Maturity
Dec-33
Maturity (months)
237
Pool Performance
Months Post Securitisation
Amortisation
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
90+ dpd
Overdue
Delinquency
1.00%
180+ dpd
Sep-15
Jun-15
18
48.5%
0.0%
0.0%
0.0%
0.0%
0.2%
17.5%
NA
NA
100.0%
NA
NA
99.3%
100.5%
72.8%
NA
NA
NA
NA
NA
39.1%
15
40.6%
0.0%
0.0%
0.0%
0.0%
0.2%
15.2%
NA
NA
100.0%
NA
NA
99.1%
98.5%
73.9%
NA
NA
NA
NA
NA
32.6%
Collection Efficiency
120.00%
CCE
MCE
BCE
100.00%
0.50%
80.00%
0.00%
60.00%
M1
M6
M11
M16
M1
M6
M11
M16
67
Issue Name
Originator
Rating/Credit Opinion
Asset Class
IBHFL Direct Assignment – Mar ’12 I
Indiabulls Housing Finance Ltd.
Assignee Payout - CARE AA+ (SO) Equivalent
Housing loan
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
Mar-12
Par
158.7
347.0
1,272
93.5
11.9
100%,0%
CC as % of initial POS
12.0%
First Loss Credit Facility
NA
Second Loss Credit Facility NA
LF as % of initial POS
NA
EIS
15.8%
OC
NA
Pool Maturity
Feb-32
Maturity (months)
240
Pool Performance
Months Post Securitisation
Amortisation
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
Delinquency
1.0%
90+ dpd
Overdue
180+ dpd
Sep-15
Jun-15
42
55.6%
0.4%
0.1%
0.9%
0.1%
0.1%
27.0%
NA
NA
100.0%
NA
NA
99.8%
98.9%
80.3%
NA
21.1
>30
NA
NA
45.4%
39
53.4%
0.1%
0.1%
0.1%
0.1%
0.0%
25.8%
NA
NA
100.0%
NA
NA
99.9%
99.2%
80.8%
NA
>30
>30
NA
NA
43.8%
Collection Efficiency
CCE
MCE
BCE
110.0%
100.0%
0.5%
90.0%
0.0%
80.0%
M1 M6 M11 M16 M21 M26 M31 M36 M41
M1 M6 M11 M16 M21 M26 M31 M36 M41
68
Issue Name
Originator
Rating/Credit Opinion
Asset Class
IBHFL Direct Assignment – Mar ’12 II
Indiabulls Housing Finance Ltd.
Assignee Payout - CARE AA+ (SO) Equivalent
Housing loan
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
Mar-12
Par
137.2
277.1
987
88.3
6.9
100%,0%
CC as % of initial POS
12.5%
First Loss Credit Facility
NA
Second Loss Credit Facility NA
LF as % of initial POS
NA
EIS
7.3%
OC
NA
Pool Maturity
Dec-31
Maturity (months)
238
Pool Performance
Months Post Securitisation
Amortisation
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
Delinquency
1.0%
90+ dpd
Overdue
180+ dpd
Sep-15
Jun-15
42
58.9%
0.2%
0.1%
0.5%
0.2%
0.0%
30.4%
NA
NA
100.0%
NA
NA
106.7%
99.3%
78.9%
NA
>30
>30
NA
NA
47.5%
39
57.7%
0.1%
0.1%
0.2%
0.2%
0.0%
28.8%
NA
NA
100.0%
NA
NA
99.9%
100.1%
81.2%
NA
>30
>30
NA
NA
45.1%
Collection Efficiency
110.0%
CCE
MCE
BCE
100.0%
0.5%
90.0%
80.0%
0.0%
70.0%
M4
M9 M14 M19 M24 M29 M34 M39
M1 M6 M11 M16 M21 M26 M31 M36 M41
69
Issue Name
Originator
Rating/Credit Opinion
Asset Class
IBHFL Direct Assignment – Mar ’12 III
Indiabulls Housing Finance Ltd.
Assignee Payout - CARE AA+ (SO) Equivalent
Housing loan
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
Mar-12
Par
102.7
239.5
731
114.6
6.2
100%,0%
CC as % of initial POS
12.8%
First Loss Credit Facility
NA
Second Loss Credit Facility NA
LF as % of initial POS
NA
EIS
7.2%
OC
NA
Pool Maturity
Aug-36
Maturity (months)
294
Pool Performance
Months Post Securitisation
Amortisation
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
Delinquency
1.0%
90+ dpd
Overdue
180+ dpd
Sep-15
Jun-15
42
67.3%
0.0%
0.0%
0.0%
0.0%
0.0%
39.0%
NA
NA
100.0%
100.0%
NA
99.9%
100.1%
78.4%
NA
NA
NA
NA
NA
59.3%
39
66.4%
0.0%
0.0%
0.0%
0.0%
0.0%
37.9%
NA
NA
100.0%
100.0%
NA
99.9%
100.0%
79.0%
NA
NA
NA
NA
NA
58.7%
Collection Efficiency
110.0%
CCE
MCE
BCE
100.0%
0.5%
90.0%
80.0%
70.0%
0.0%
M1 M6 M11 M16 M21 M26 M31 M36 M41
M1 M6 M11 M16 M21 M26 M31 M36 M41
70
Issue Name
Originator
Rating/Credit Opinion
Asset Class
Innovation Trust-I Sep12
Indiabulls Housing Finance Ltd.
Series A1 PTC - CARE AA+ (SO)
Housing loan
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
Sep-12
Par
54.9
117.0
458
8.1
20.6
100%,0%
CC as % of initial POS
11.5%
First Loss Credit Facility
NA
Second Loss Credit Facility NA
LF as % of initial POS
NA
EIS
9.5%
OC
NA
Pool Maturity
Apr-36
Maturity (months)
283
Pool Performance
Months Post Securitisation
Amortisation
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
Delinquency
2.00%
90+ dpd
Overdue
180+ dpd
Sep-15
Jun-15
36
58.6%
0.7%
0.0%
1.6%
0.0%
0.1%
27.8%
NA
NA
100.0%
100.0%
NA
99.9%
99.0%
82.8%
NA
10.8
NA
NA
NA
48.6%
33
55.2%
0.3%
0.0%
0.7%
0.0%
0.0%
25.7%
NA
NA
100.0%
NA
NA
99.9%
99.4%
84.8%
NA
20.6
NA
NA
NA
45.6%
Collection Efficiency
110.0%
CCE
MCE
BCE
100.0%
1.00%
90.0%
80.0%
0.00%
M1
M6
M11 M16 M21 M26 M31 M36
M1 M6 M11 M16 M21 M26 M31 M36
71
India Infoline Finance Limited
(IIFL – 1 Pool)
Key Financial Indicators
For the year ended as on 31st March
Total Loan Portfolio (in Rs. Cr)
Total Income (in Rs. Cr)
Profit After Tax (in Rs. Cr)
Net worth (in Rs. Cr)
Gross NPA ratio (%)
Capital Adequacy Ratio (CAR) (%)
2012
(12m, A)
6,745
954
105
1,431
0.55
17.90
2013
2014
2015
(12m, A) (12m, A) (12m, A)
9,376
10,819
14,543
1737
1970
2514
189
210
301
1,513
1,613
1,928
0.49
0.86
1.27
21.60
17.65
18.02
P*=Provisional, A=Audited

During FY15, total income grew by 30.2% on y-o-y basis, primarily supported by increase
in loan portfolio. Asset Under Management stood at 16,176 crores as of 31st March,
2015 as against 11,562crores as of 31st March, 2014.

The Gross NPA level has increased from 1.27% in FY15 to 0.86% in FY14.

The CAR has increased in FY15 and stood at 18.02% as against 17.65% in FY14. However
the CAR is very well above the regulatory requirement of 15%.
Note: Shri Vijay Kumar Chopra, who is a Director on the board India Infoline Finance Limited, is a
member of the Rating Committee in CARE. Shri Vijay Kumar Chopra did not participate in the
rating process or in the meeting of the Rating Committee when the rating of IIFL was discussed.
72
Issue Name
Originator
Rating/Credit Opinion
Asset Class
IIFL CV Trust December 2013 I
India Infoline Finance Limited
Series A1 PTCs - CARE AA (SO)
HCV (52.60%), SCV (24.21%), LCV (18.05%) and Others (5.14%)
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
Dec-13
Par
66.8
83.4
1,210
18.0
7.7
100%,0%
CC as % of initial POS
13.5%
First Loss Credit Facility
NA
Second Loss Credit Facility NA
LF as % of initial POS
NA
EIS
10.8%
OC
NA
Pool Maturity
Nov-17
Maturity (months)
48
Pool Performance
Months Post Securitisation
Balance Tenure (Months)
Amortisation
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
90+ dpd
Overdue
Delinquency
4.0%
180+ dpd
Sep-15
Jun-15
21
27
61.9%
3.2%
1.6%
5.6%
2.4%
2.2%
35.4%
NA
NA
100.0%
NA
NA
95.9%
93.5%
63.6%
NA
6.5
15.1
NA
NA
6.5%
18
30
53.6%
2.6%
1.4%
3.9%
2.0%
1.6%
29.1%
NA
NA
100.0%
NA
NA
96.2%
96.3%
69.1%
NA
8.0
15.5
NA
NA
5.5%
Collection Efficiency
CCE
MCE
BCE
120.0%
3.0%
100.0%
2.0%
80.0%
1.0%
0.0%
60.0%
M1
M4
M7
M10 M13 M16 M19
M1
M4
M7 M10 M13 M16 M19
73
IKF Finance Limited – 4 (Pools)
Key Financial Indicators
For the year ended as on 31st March
Total Assets (in Rs. Cr)
Total Income (in Rs. Cr)
Profit After Tax (in Rs. Cr)
Net worth (in Rs. Cr)
Net NPA ratio (%)
Capital Adequacy Ratio (CAR) (%)
2012
2013
2014
2015
(12m, A) (12m, A) (12m, A) (12m, A)
190.29
248.17
331.66
508.08
26.76
42.79
60.73
79.52
3.89
6.81
11.55
14.69
34.68
52.50
66.42
130.42
0.43
0.51%
0.53%
0.70%
24.86
20.67%
19.12%
16.40%
P*=Provisional, A=Audited

During FY15, total assets stood at 508.08 crores as against 331.66 crores as of FY14.

The Net NPA level increased to 0.70% as of 31st March, 2015 as against 0.53% as of 31st
March 2014.

The CAR has declined at the level of 16.40% as of FY15 as against 19.12% as of FY14. It is
above the regulatory requirement of 15%.
74
Issue Name
Originator
Rating/Credit Opinion
Asset Class
Kallone CV IFMR Capital 2014
IKF Finance Limited
Series A1 PTC - CARE A (SO) , Series A2 PTC - CARE BB+ (SO)
HCV (41.75%), MUV (29.96%), LCV (11.21%), Car(8.26%),
CE (5.00%) and Others (3.83%)
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Series A1 Principal (Rs Cr)
Jan-14
Par
20.8
18.7
Future Receivables (Rs Cr)
24.5
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
CC as % of initial POS
First Loss Credit Facility
Second Loss Credit Facility
LF as % of initial POS
Series A2 Principal
0.83
(Subordinated to A1) (Rs Cr)
EIS
8.4%
OC
6.0%
Pool Maturity
Jun-17
Maturity (months)
41
748
11.8
12.4
100%, 0%
Pool Performance
Months Post Securitisation
Balance Tenure (Months)
Amortisation
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
Delinquency
2.0%
90+ dpd
Overdue
180+ dpd
11.0%
NA
NA
Sep-15
Jun-15
20
21
83.4%
1.4%
0.0%
3.1%
0.0%
1.5%
66.3%
NA
NA
100.0%
NA
NA
98.2%
100.7%
0.0%
NA
NA
NA
NA
NA
0.0%
17
24
75.6%
0.1%
0.0%
0.2%
0.0%
1.0%
45.2%
NA
NA
100.0%
NA
NA
98.0%
103.1%
30.5%
NA
NA
NA
NA
NA
0.0%
Collection Efficiency
CCE
MCE
BCE
120.0%
100.0%
80.0%
60.0%
40.0%
20.0%
0.0%
1.0%
0.0%
M1 M3 M5 M7 M9 M11 M13 M15 M17 M19
M1
M4
M7
M10 M13 M16 M19
75
Issue Name
Originator
Rating/Credit Opinion
Asset Class
Hesperis CV IFMR Capital 2014
IKF Finance Limited
Series A1 PTC - CARE A- (SO) , Series A2 PTC - CARE BB+ (SO)
HCV (33.05%), Three Wheeler (14.32%), LCV (8.12%),
Car(41.37%), SCV (2.04%) and Tractor (1.10%)
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Series A1 Principal (Rs Cr)
Mar-14
Par
15.2
13.3
Future Receivables (Rs Cr)
18.2
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
CC as % of initial POS
9.4%
First Loss Credit Facility
NA
Second Loss Credit Facility
NA
LF as % of initial POS
NA
Series A2 Principal
1.07
(Subordinated to A1) (Rs Cr)
EIS
9.2%
OC
6.0%
Pool Maturity
Jul-17
Maturity (months)
40
618
13.1
7.7
100%, 0%
Pool Performance
Months Post Securitisation
Balance Tenure (Months)
Amortisation
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
Delinquency
3.0%
90+ dpd
Overdue
180+ dpd
Sep-15
Jun-15
18
22
71.5%
0.7%
0.0%
1.3%
0.0%
1.9%
32.9%
NA
NA
100.0%
NA
NA
97.9%
103.2%
45.8%
NA
>30
NA
NA
NA
0.2%
15
25
60.8%
0.0%
0.0%
0.0%
0.0%
2.2%
23.9%
NA
NA
100.0%
NA
NA
97.0%
102.8%
59.3%
NA
NA
NA
NA
NA
0.0%
Collection Efficiency
CCE
MCE
BCE
120.0%
100.0%
2.0%
80.0%
1.0%
60.0%
0.0%
40.0%
M1 M3 M5 M7 M9 M11 M13 M15 M17
M1 M3 M5 M7 M9 M11 M13 M15 M17
76
Issue Name
Originator
Rating/Credit Opinion
Asset Class
Pontus CV IFMR Capital 2015
IKF Finance Limited
Series A1 PTC - CARE BBB+ (SO) , Series A2 PTC - CARE B- (SO)
Car (44.96%), CV (36.21%), LCV (9.35%),
Three Wheeler (4.72%), Other (4.76%)
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Series A1 Principal (Rs Cr)
Feb-15
Par
9.4
8.4
Future Receivables (Rs Cr)
11.8
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
CC as % of initial POS
First Loss Credit Facility
Second Loss Credit Facility
LF as % of initial POS
Series A2 Principal
(Subordinated to A1) (Rs Cr)
EIS
OC
Pool Maturity
Maturity (months)
329
12.4
8.7
100%, 0%
Pool Performance
Months Post Securitisation
Balance Tenure (Months)
Amortisation
PTC Amortisation
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
CC as % of Series A1 PTC
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
LF (Unutilized)
Cummulative Collection Efficiency
Moving Average (3 months) Collection Efficiency
Break even Collection Efficiency
Break even Collection Efficiency (FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FLF enhancement coverage (90+ DPD)
FLF enhancement coverage (180+ DPD)
Cumulative Prepayment
90+ dpd
Delinquency
180+ dpd
Overdue
2.5%
0.28
13.7%
7.0%
Apr-18
38
Sep-15
Jun-15
7
31
28.9%
31.3%
0.1%
0.0%
0.1%
0.0%
2.0%
4.2%
4.9%
NA
NA
100.0%
NA
NA
94.9%
94.3%
80.2%
NA
>30
NA
NA
NA
0.1%
4
34
16.4%
18.0%
0.0%
0.0%
0.0%
0.0%
1.1%
3.6%
4.1%
NA
NA
100.0%
NA
NA
95.3%
94.8%
80.6%
NA
NA
NA
NA
NA
0.1%
CCE
MCE
Collection Efficiency
110.00%
2.0%
3.0%
NA
NA
NA
BCE
100.00%
1.5%
90.00%
1.0%
0.5%
80.00%
0.0%
M1
M3
M5
M7
70.00%
M1
M2
M3
M4
M5
M6
M7
77
Issue Name
Originator
Rating
Artemis CV IFMR Capital 2015
IKF Finance Limited
Series A1 PTC - CARE A- (SO) , Series A2 PTC - CARE BB+ (SO)
LCV (17.23%), HCV (44.02%), Car (16.64%),
Three Wheeler (13.21%), Other (8.9%)
Asset Class
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Series A1 Principal (Rs Cr)
Mar-15
Par
39.1
33.2
Future Receivables (Rs Cr)
47.1
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
1,203
13.4
7.5
100%, 0%
Pool Performance
Months Post Securitisation
Balance Tenure (Months)
Amortisation
Series A1 Amortisation
Series A2 Amortisation
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
LF (Unutilized)
Cummulative Collection Efficiency
Moving Average (3 months) Collection Efficiency
Break even Collection Efficiency
Break even Collection Efficiency (FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FLF enhancement coverage (90+ DPD)
FLF enhancement coverage (180+ DPD)
Cumulative Prepayment
Delinquency
90+ dpd
Overdue
180+ dpd
1.50%
CC as % of initial POS
First Loss Credit Facility
Second Loss Credit Facility
LF as % of initial POS
7.0%
NA
NA
NA
Series A2 Principal
(Subordinated to A1) (Rs Cr)
EIS
OC
Pool Maturity
Maturity (months)
1.96
11.5%
10.0%
Mar-19
48
Sep-15
Jun-15
6
42
24.0%
27.8%
0.0%
0.2%
0.0%
0.2%
0.0%
1.2%
9.2%
NA
NA
100.0%
NA
NA
96.3%
97.1%
76.0%
NA
>30
NA
NA
NA
0.0%
3
45
11.8%
13.9%
0.0%
0.0%
0.0%
0.0%
0.0%
0.2%
7.3%
NA
NA
100.0%
NA
NA
95.8%
NA
86.1%
NA
NA
NA
NA
NA
0.0%
CCE
MCE
Collection Efficiency
BCE
110.0%
1.00%
90.0%
0.50%
70.0%
0.00%
M1
M2
M3
M4
M5
M6
M1
M2
M3
M4
M5
M6
78
Magma Fincorp Ltd (MFL – 10 Pools)
Key Financial Indicators
For the year ended as on 31st March
Total Income (in Rs. Cr)
Profit After Tax (in Rs. Cr)
Net worth (in Rs. Cr)
Gross NPA ratio (%)
Capital Adequacy Ratio (CAR) (%)
2011
2012
(12m, A) (12m, A)
847.3 1,016.0
114.4
63.2
613.5 1,081.3
0.0
0.0
18.2
21.2
2013
(12m, A)
1,606.2
122.8
1,173.6
1.6
16.8
2014
2015
(12m, A) (12m, A)
1,876
2,045
136
150
1,076
1,177
4.2
6.1
16.6
16.3
P*=Provisional, A=Audited

During FY15, total income was Rs. 2,045 crores, as compared to the total Income of Rs.
1,876crores in FY14.

Gross NPA (180 dpd) stood at 6.1% as on March 31, 2015 as compared to that of 4.2% as
on March 31, 2014.

The CAR remained comfortable at the level of 16.3% as of 31st March, 2015 as against
16.6% at the end of 31st March, 2014. It is above the regulatory requirement of 15%.
79
Issue Name
Originator
Rating/Credit Opinion
Asset Class
MFL Direct Assignment Mar12 I
Magma Fincorp Ltd
Withdrawn
CE (42.24%),CV (38.54%), Car (19.22%)
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
Mar-12
Par
111.0
135.9
1,453
17.8
4.6
95.73%, 4.27%
CC as % of initial POS
10.0%
First Loss Credit Facility
4.0%
Second Loss Credit Facility 6.0%
LF as % of initial POS
NA
EIS
6.0%
OC
NA
Pool Maturity
Nov-16
Maturity (months)
56
Pool Performance
Months Post Securitisation
Balance Tenure (Months)
Amortisation
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
Delinquency
8.0%
90+ dpd
Overdue
180+ dpd
Jul-15
Jun-15
40
16
96.6%
3.6%
2.9%
16.4%
8.6%
3.6%
295.0%
118.0%
NA
100.0%
100.0%
NA
96.3%
100.1%
NA
NA
NA
NA
NA
NA
7.5%
39
17
95.9%
3.7%
2.9%
17.4%
8.9%
3.5%
246.0%
98.4%
NA
100.0%
100.0%
NA
96.3%
103.1%
0.0%
5.3%
NA
NA
5.4
10.7
7.5%
Collection Efficiency
CCE
MCE
BCE
120%
100%
6.0%
80%
4.0%
60%
40%
2.0%
20%
0.0%
0%
M1
M6
M11 M16 M21 M26 M31 M36
M1
M6 M11 M16 M21 M26 M31 M36
80
Issue Name
Originator
Rating/Credit Opinion
Asset Class
MFL Securitisation Trust VIII
Magma Fincorp Ltd
Withdrawn
CV (46.55%), Car (24.20%), CE(23.21%) and Tractor (6.05%)
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Series A1 Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
Mar-13
Par
379.2
352.7
461.3
5,459
17.2
9.5
86.95%, 13.05%
CC as % of initial POS
First Loss Credit Facility
Second Loss Credit Facility
LF as % of initial POS
Series A2 Principal (Rs Cr)
EIS
OC
Pool Maturity
Maturity (months)
Pool Performance
Months Post Securitisation
Balance Tenure (Months)
Amortisation (Series A1 Principal)
Amortisation (Series A2 Principal)
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
90+ dpd
Overdue
Delinquency
9.0%
180+ dpd
7.5%
3.0%
4.5%
0.8%
26.5
9.6%
NA
Sep-17
54
Sep-15
Jun-15
30
24
90.1%
90.1%
4.5%
3.4%
13.7%
8.1%
4.4%
69.3%
24.1%
8.3%
91.9%
79.8%
100.0%
95.2%
111.0%
NA
NA
NA
NA
NA
NA
11.0%
27
27
81.2%
81.2%
6.3%
4.1%
14.0%
6.9%
5.1%
39.9%
15.9%
0.0%
100.0%
100.0%
0.0%
94.3%
95.1%
63.7%
85.6%
2.6
5.2
1.0
2.1
6.7%
CCE
MCE
Collection Efficiency
BCE
120%
6.0%
90%
3.0%
60%
30%
0.0%
M1
M6
M11
M16
M21
M26
M1
M6
M11
M16
M21
M26
81
Issue Name
Originator
Rating/Credit Opinion
Asset Class
MFL Securitisation Trust IX
Magma Fincorp Ltd
Series A1 PTC and Series A2 PTC - CARE AA (SO)
& Second Loss Facility - CARE BBB (SO) Equivalent
CV (46.40%), Car (28.45%), CE(19.14%) and Tractor (6.01%)
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Series A1 Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
Mar-13
Par
218.9
203.6
269.2
3,124
17.9
8.5
80.05%,9.07%,10.88%
CC as % of initial POS
First Loss Credit Facility
Second Loss Credit
LF as % of initial POS
Series A2 Principal (Rs Cr)
EIS
OC
Pool Maturity
Maturity (months)
Pool Performance
Sep-15
Jun-15
29
25
83.1%
83.1%
9.1%
5.7%
22.8%
10.6%
6.4%
46.2%
17.3%
NA
99.0%
97.4%
NA
93.0%
94.2%
53.1%
79.5%
2.1
4.4
0.9
1.9
8.80%
26
28
76.7%
76.7%
9.2%
5.9%
18.9%
9.9%
6.1%
33.9%
12.9%
NA
100.0%
100.0%
NA
92.9%
97.3%
64.2%
83.2%
1.9
3.6
0.9
1.7
8.28%
Months Post Securitisation
Balance Tenure (Months)
Amortisation (Series A1 Principal)
Amortisation (Series A2 Principal)
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
90+ dpd
Delinquency
180+ dpd
Overdue
7.9%
3.0%
4.9%
NA
15.3
11.9%
NA
Sep-17
54
Collection Efficiency
CCE
MCE
BCE
110.0%
10.0%
8.0%
90.0%
6.0%
4.0%
70.0%
2.0%
0.0%
M1
M5
M9
M13
M17
M21
M25
M29
50.0%
M1
M5
M9
M13 M17 M21 M25 M29
82
Issue Name
Originator
Rating/Credit Opinion
Asset Class
MFL Securitisation Trust X
Magma Fincorp Ltd
Series A1 PTC and Series A2 PTC - CARE AA+ (SO),Second Loss Facility CARE BBB (SO) Equivalent & Liquidity Facility - CARE AAA (SO) Equivalent
Tractor (34.78%), CV (33.36%), CE(19.02%) and Car (12.84%)
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Series A1 Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
Mar-13
Par
173.9
160.5
220.0
3,531
18.9
7.8
100%, 0%
CC as % of initial POS
First Loss Credit Facility
Second Loss Credit Facility
LF as % of initial POS
Series A2 Principal (Rs Cr)
EIS
OC
Pool Maturity
Maturity (months)
Pool Performance
Months Post Securitisation
Balance Tenure (Months)
Amortisation (Series A1 Principal)
Amortisation (Series A2 Principal)
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
90+ dpd
Delinquency
180+ dpd
Overdue
10.0%
9.8%
2.3%
7.5%
0.6%
13.4
14.8%
NA
Oct-17
54
Sep-15
Jun-15
29
25
79.6%
79.6%
9.1%
6.0%
19.8%
9.9%
6.2%
47.0%
10.3%
0.0%
97.9%
91.2%
0.0%
92.6%
89.6%
54.0%
84.3%
2.3
4.6
0.8
1.6
5.8%
26
28
72.3%
72.3%
9.1%
6.1%
16.7%
9.3%
5.7%
35.4%
8.3%
0.0%
100.0%
100.0%
0.0%
92.8%
94.4%
63.5%
85.8%
2.2
3.9
0.9
1.5
5.2%
CCE
MCE
Collection Efficiency
BCE
110.0%
8.0%
100.0%
6.0%
90.0%
80.0%
4.0%
70.0%
2.0%
60.0%
0.0%
M1
M5
M9
M13
M17
M21
M25
M29
50.0%
M1
M5
M9
M13
M17
M21
M25
M29
83
Issue Name
Originator
Rating/Credit Opinion
Asset Class
MFL Securitisation Trust XIII
Magma Fincorp Ltd
Series A1 PTC and Series A2 PTC - CARE AA (SO) & Second Loss Facility CARE BBB (SO) Eqivalent & Liquidity Facility - CARE AAA (SO) Equivalent
CV (51.84%), CE (31.12%), Tractor (10.31%) and Car (6.73%)
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Series A1 Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
Jun-13
Par
200.2
186.2
240.0
2,613
15.9
11.8
86.53%, 13.47%
CC as % of initial POS
First Loss Credit Facility
Second Loss Credit Facility
LF as % of initial POS
Series A2 Principal (Rs Cr)
EIS
OC
Pool Maturity
Maturity (months)
Pool Performance
Sep-15
27
27
84.6%
84.6%
6.8%
4.0%
18.8%
8.7%
5.2%
57.3%
18.4%
0.0%
98.3%
94.8%
0.0%
95.2%
93.9%
48.4%
78.8%
2.7
5.9
1.1
2.4
7.8%
Months Post Securitisation
Balance Tenure (Months)
Amortisation (Series A1 Principal)
Amortisation (Series A2 Principal)
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
90+ dpd
Delinquency
180+ dpd
Overdue
10.0%
9.0%
3.0%
6.0%
0.8%
14.0
9.0%
NA
Dec-17
54
Jun-15
24
30
78.6%
78.6%
7.1%
3.8%
16.9%
7.6%
4.8%
42.0%
14.0%
0.0%
100.0%
100.0%
0.0%
95.3%
98.1%
61.0%
82.7%
2.3
5.1
1.0
2.3
7.3%
Collection Efficiency
CCE
MCE
BCE
120.0%
8.0%
100.0%
6.0%
80.0%
4.0%
60.0%
2.0%
0.0%
40.0%
M1
M5
M9
M13
M17
M21
M25
M1
M5
M9
M13
M17
M21
M25
84
Issue Name
Originator
Rating/Credit Opinion
Asset Class
MFL Securitisation Trust XIV
Magma Fincorp Ltd
Series A1 PTC and Series A2 PTC - CARE AA (SO), Second Loss Facility -CARE
BBB (SO) Equivalent & Liquidity Facility - CARE AAA (SO) Equivalent
CE (47.25%), CV (44.21%) and Tractor (8.54%)
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Series A1 Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
Aug-13
Par
331.0
312.8
402.3
3,786
17.3
9.1
86.03%, 13.97%
CC as % of initial POS
First Loss Credit Facility
Second Loss Credit Facility
LF as % of initial POS
Series A2 Principal (Rs Cr)
EIS
OC
Pool Maturity
Maturity (months)
Pool Performance
Sep-15
25
29
76.1%
76.1%
8.4%
4.7%
18.3%
8.2%
5.7%
50.7%
18.3%
0.0%
98.9%
97.1%
0.0%
95.3%
109.4%
53.2%
79.3%
2.6
5.7
1.1
2.5
5.9%
Months Post Securitisation
Balance Tenure (Months)
Amortisation (Series A1 Principal)
Amortisation (Series A2 Principal)
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
Delinquency
10.0%
90+ dpd
Overdue
180+ dpd
Collection Efficiency
12.3%
4.5%
7.8%
0.9%
18.2
9.6%
NA
Feb-18
54
Jun-15
22
32
67.6%
67.6%
8.3%
4.7%
15.1%
6.9%
5.1%
37.9%
13.9%
0.0%
100.0%
100.0%
0.0%
93.7%
96.0%
63.9%
83.0%
2.4
5.2
1.1
2.5
4.9%
CCE
MCE
BCE
110.0%
8.0%
90.0%
6.0%
4.0%
70.0%
2.0%
50.0%
0.0%
M1
M4
M7
M10 M13 M16 M19 M22 M25
M1
M4
M7 M10 M13 M16 M19 M22 M25
85
Issue Name
Originator
Rating/Credit Opinion
Asset Class
MFL Securitisation Trust XIX
Magma Fincorp Ltd
Series A1 PTC and Series A2 PTC - CARE AA (SO), Second Loss Facility CARE BBB (SO) Equivalent & Liquidity Facility - CARE AAA (SO) Equivalent
CE (12.66%), CV (48.26%) and Tractor (39.08%)
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Series A1 Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
Dec-13
Par
113.2
105.8
140.0
2,414
17.7
11.5
86.96%, 13.04%
CC as % of initial POS
First Loss Credit Facility
Second Loss Credit Facility
LF as % of initial POS
Series A2 Principal (Rs Cr)
EIS
OC
Pool Maturity
Maturity (months)
Pool Performance
Sep-15
21
33
63.8%
63.8%
6.3%
2.9%
11.5%
4.4%
3.5%
32.6%
9.7%
0.0%
100.0%
100.0%
0.0%
93.7%
94.7%
65.8%
84.5%
3.0
7.8
1.4
3.5
4.2%
Months Post Securitisation
Balance Tenure (Months)
Amortisation (Series A1 Principal)
Amortisation (Series A2 Principal)
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
90+ dpd
Overdue
Delinquency
8.0%
180+ dpd
11.8%
3.5%
8.3%
0.7%
7.4
12.7%
NA
Jun-18
54
Jun-15
18
36
56.7%
56.7%
5.3%
2.5%
8.4%
3.4%
3.2%
27.2%
8.1%
0.0%
100.0%
100.0%
0.0%
93.7%
95.4%
70.3%
85.7%
3.5
8.9
1.7
4.3
3.7%
CCE
MCE
Collection Efficiency
BCE
110.0%
100.0%
6.0%
90.0%
4.0%
80.0%
2.0%
70.0%
60.0%
0.0%
M1
M4
M7
M10
M13
M16
M19
M1
M4
M7
M10
M13
M16
M19
86
Issue Name
Originator
Rating/Credit Opinion
Asset Class
MFL Securitisation Trust XXIII
Magma Fincorp Ltd
Series A1 PTC and Series A2 PTC - CARE AA (SO), Second Loss Facility CARE BBB (SO) Equivalent & Liquidity Facility - CARE AAA (SO) Equivalent
CE (41.92%), CV (29.70%) and Tractor (28.38%)
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Series A1 Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
Mar-14
Par
175.1
164.2
215.3
3,157
17.5
8.0
91.14%, 8.86%
CC as % of initial POS
First Loss Credit Facility
Second Loss Credit Facility
LF as % of initial POS
Series A2 Principal (Rs Cr)
EIS
OC
Pool Maturity
Maturity (months)
Pool Performance
Sep-15
17
37
53.7%
53.7%
5.9%
2.5%
9.0%
3.4%
3.5%
25.7%
8.0%
0.0%
99.3%
97.9%
0.0%
94.3%
90.2%
72.6%
86.7%
3.0
8.0
1.5
3.9
3.1%
Months Post Securitisation
Balance Tenure (Months)
Amortisation (Series A1 Principal)
Amortisation (Series A2 Principal)
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
90+ dpd
Overdue
Delinquency
8.0%
180+ dpd
12.0%
3.8%
8.2%
0.7%
10.9
11.6%
NA
Oct-18
54
Jun-15
14
40
43.9%
43.9%
4.2%
1.3%
5.7%
1.6%
2.6%
21.4%
6.8%
0.0%
100.0%
100.0%
0.0%
95.1%
97.3%
75.9%
87.4%
4.2
15.2
2.2
7.9
2.6%
CCE
MCE
Collection Efficiency
BCE
110.0%
6.0%
100.0%
4.0%
90.0%
2.0%
80.0%
70.0%
0.0%
M1
M4
M7
M10
M13
M16
M1
M4
M7
M10
M13
M16
87
Issue Name
Originator
Rating/Credit Opinion
Asset Class
MFL Securitisation Trust XXVIII
Magma Fincorp Ltd
Series A1 PTC and Series A2 PTC - CARE AA (SO), Second Loss Facility - CARE
BBB- (SO) Equivalent & Liquidity Facility - CARE AAA (SO) Equivalent
Tractor (100%)
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Series A1 Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
Dec-14
Par
111.3
105.7
142.1
3,760
17.7
10.2
100%, 0%
CC as % of initial POS
First Loss Credit Facility
Second Loss Credit Facility
LF as % of initial POS
Series A2 Principal (Rs Cr)
EIS
OC
Pool Maturity
Maturity (months)
Pool Performance
Sep-15
9
45
28.8%
28.8%
3.7%
1.4%
4.1%
1.4%
2.3%
20.1%
7.0%
0.0%
100.0%
100.0%
0.0%
92.4%
88.3%
74.0%
84.7%
6.4
19.0
3.7
11.2
1.4%
Months Post Securitisation
Balance Tenure (Months)
Amortisation (Series A1 Principal)
Amortisation (Series A2 Principal)
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
90+ dpd
Overdue
Delinquency
4.0%
180+ dpd
Collection Efficiency
14.3%
5.0%
9.3%
1.3%
5.6
16.8%
NA
Jun-19
54
Jun-15
6
48
17.2%
17.2%
2.4%
0.0%
2.5%
0.0%
1.1%
17.3%
6.0%
0.6%
100.0%
100.0%
42.5%
95.3%
102.1%
75.3%
84.4%
9.9
NA
6.3
NA
0.8%
CCE
MCE
BCE
120.0%
3.0%
100.0%
2.0%
80.0%
1.0%
60.0%
0.0%
M1
M2
M3
M4
M5
M6
M7
M8
M9
M1 M2 M3 M4 M5 M6 M7 M8 M9
88
Issue Name
Originator
Rating/Credit Opinion
Asset Class
MFL Securitisation Trust XXXI
Magma Fincorp Ltd
Series A1 PTC and Series A2 PTC - CARE AA (SO), Second Loss Facility - CARE
BBB- (SO) Equivalent & Liquidity Facility - CARE AAA (SO) Equivalent
Tractor (100%)
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Series A1 Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
Mar-15
Par
113.6
107.9
145.3
4,113
17.7
8.6
100.0%
CC as % of initial POS
First Loss Credit Facility
Second Loss Credit Facility
LF as % of initial POS
Series A2 Principal (Rs Cr)
EIS
OC
Pool Maturity
Maturity (months)
Pool Performance
Sep-15
6
48
18.4%
18.4%
1.7%
0.0%
1.8%
0.0%
1.5%
17.8%
6.1%
0.0%
100.0%
100.0%
2.8%
94.1%
93.1%
75.3%
84.7%
14.1
NA
8.7
NA
0.8%
Months Post Securitisation
Balance Tenure (Months)
Amortisation (Series A1 Principal)
Amortisation (Series A2 Principal)
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
90+ dpd
Overdue
Delinquency
2.0%
180+ dpd
14.5%
5.0%
9.5%
1.3%
5.7
17.4%
NA
Sep-19
54
Jun-15
3
51
5.2%
5.2%
0.0%
0.0%
0.0%
0.0%
0.6%
15.3%
5.3%
0.6%
100.0%
100.0%
48.8%
101.1%
98.6%
76.3%
84.4%
NA
NA
NA
NA
0.3%
CCE
MCE
Collection Efficiency
BCE
120%
100%
1.0%
80%
60%
0.0%
M1
M2
M3
M4
M5
M6
M1
M2
M3
M4
M5
M6
89
Magma ITL Finance Ltd (MIFL) – 4 (Pools)
Key Financial Indicators
For the year ended as on 31st March
Total Income (in Rs. Cr)
Profit After Tax (in Rs. Cr)
Tangible Net worth (in Rs. Cr)
Gross NPA ratio (%)
Capital Adequacy Ratio (CAR) %)
2012
(12m, A)
70.27
14.51
72.15
0.0
26.8
2013
(12m, A)
108.92
24.37
94.76
1.56
18.37
2014
(12m, A)
145.63
30.78
124.19
6.62
18.82
2015
(12m, A)
146.40
25.38
146.56
12.15
20.11
P*=Provisional, A=Audited

The gross NPA level has increased from 6.62% as of 31st March, 2014 to 12.15% as of
31st March 2015.

Tangible Net worth for the MIFL was reported at Rs. 146.56 crores as on 31st March,
2015.

MIFL reported CAR as 20.11% at the end of FY15.
90
Issue Name
Originator
Rating/Credit Opinion
Asset Class
MIFL Securitisation Trust I
Magma ITL Finance Ltd
Series A1 PTC & Series A2 PTC - CARE AA+ (SO), Liquidity Facility -CARE
AAA (SO) Equivalent & Second Loss Facility - CARE BBB (SO) Equivalent
Tractor
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Series A1 Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
Mar-13
Par
70.0
64.8
89.5
2,636
18.5
11.6
100%, 0%
CC as % of initial POS
First Loss Credit Facility
Second Loss Credit Facility
LF as % of initial POS
Series A2 Principal (Rs Cr)
EIS
OC
Pool Maturity
Maturity (months)
Pool Performance
Sep-15
Jun-15
29
25
80.0%
80.0%
6.8%
4.5%
15.1%
7.9%
5.1%
46.3%
9.8%
0.0%
86.4%
78.2%
0.0%
93.2%
91.6%
51.3%
83.7%
3.2
6.2
1.1
2.1
5.7%
26
28
72.3%
72.3%
7.0%
4.2%
13.4%
6.2%
4.4%
35.4%
9.0%
0.0%
91.5%
100.0%
0.0%
93.9%
98.6%
60.9%
84.2%
2.9
6.3
1.2
2.5
5.2%
Months Post Securitisation
Balance Tenure (Months)
Amortisation (Series A1 Principal)
Amortisation (Series A2 Principal)
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
90+ dpd
Overdue
Delinquency
180+ dpd
120.0%
6.0%
100.0%
4.0%
80.0%
2.0%
60.0%
0.0%
CCE
MCE
Collection Efficiency
8.0%
9.8%
2.5%
7.3%
0.9%
5.2
18.0%
NA
Sep-17
54
BCE
40.0%
M1
M6
M11
M16
M21
M26
M1
M6
M11
M16
M21
M26
91
Issue Name
Originator
Rating/Credit Opinion
Asset Class
MIFL Securitisation Trust II
Magma ITL Finance Ltd
Series A1 PTC & Series A2 PTC - CARE AA (SO), Liquidity Facility - CARE
AAA (SO) Equivalent & Second Loss Facility - CARE BBB (SO) Equivalent
Tractor
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Series A1 Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
Mar-13
Par
40.6
37.7
55.6
1,161
23.1
11.1
100%, 0%
CC as % of initial POS
First Loss Credit Facility
Second Loss Credit Facility
LF as % of initial POS
Series A2 Principal (Rs Cr)
EIS
OC
Pool Maturity
Maturity (months)
Pool Performance
Months Post Securitisation
Balance Tenure (Months)
Amortisation (Series A1 Principal)
Amortisation (Series A2 Principal)
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
90+ dpd
Overdue
Delinquency
180+ dpd
10.0%
10.8%
2.8%
8.0%
1.3%
2.9
19.2%
NA
Sep-17
54
Sep-15
Jun-15
29
25
64.0%
64.0%
8.3%
4.6%
14.6%
6.5%
4.5%
29.2%
7.0%
0.0%
97.3%
89.7%
0.0%
94.8%
85.1%
67.3%
86.4%
2.2
5.0
0.9
2.1
5.4%
26
28
55.7%
55.7%
7.7%
3.9%
11.9%
4.9%
3.4%
24.4%
6.3%
0.8%
100.0%
100.0%
26.6%
96.1%
114.9%
71.9%
86.6%
2.4
5.7
1.1
2.7
4.8%
CCE
MCE
Collection Efficiency
BCE
140.0%
8.0%
120.0%
6.0%
100.0%
4.0%
80.0%
2.0%
0.0%
60.0%
M1
M6
M11
M16
M21
M26
M1
M6
M11
M16
M21
M26
92
Issue Name
Originator
Rating/Credit Opinion
Asset Class
MIFL Securitisation Trust III
Magma ITL Finance Ltd
Series A1 PTC & Series A2 PTC - CARE AA (SO), Liquidity Facility - CARE
AAA (SO) Equivalent & Second Loss Facility - CARE BBB (SO) Equivalent
Tractor
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Series A1 Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
Sep-13
Par
18.1
17.2
23.5
744
19.3
13.4
99.47.%, 0.53%
Pool Performance
Months Post Securitisation
Balance Tenure (Months)
Amortisation (Series A1 Principal)
Amortisation (Series A2 Principal)
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
Delinquency
90+ dpd
Overdue
180+ dpd
10.0%
8.0%
6.0%
4.0%
2.0%
0.0%
CC as % of initial POS
First Loss Credit Facility
Second Loss Credit Facility
LF as % of initial POS
Series A2 Principal (Rs Cr)
EIS
OC
Pool Maturity
Maturity (months)
13.5%
5.0%
8.5%
1.5%
0.9
16.3%
NA
Mar-18
54
Sep-15
Jun-15
24
30
66.3%
66.3%
7.6%
5.4%
12.2%
8.1%
4.7%
39.2%
14.0%
0.6%
98.0%
94.5%
13.2%
94.5%
83.8%
61.7%
79.8%
3.1
4.7
1.6
2.5
3.5%
21
33
57.9%
57.9%
7.7%
5.1%
11.3%
6.4%
4.0%
32.1%
11.8%
0.9%
100.0%
100.0%
26.5%
95.7%
105.1%
66.5%
81.3%
3.0
5.2
1.7
2.9
3.0%
Collection Efficiency
CCE
MCE
BCE
120.0%
100.0%
80.0%
60.0%
M1
M4
M7 M10 M13 M16 M19 M22
M1 M4 M7 M10 M13 M16 M19 M22
93
Issue Name
Originator
Rating/Credit Opinion
Asset Class
MIFL Securitisation Trust V
Magma ITL Finance Ltd
Series A1 PTC & Series A2 PTC - CARE AA (SO), Liquidity Facility - CARE
AAA (SO) Equivalent & Second Loss Facility - CARE BBB (SO) Equivalent
Tractor
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Series A1 Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
Mar-14
Par
105.8
100.0
139.8
3,600
19.8
12.5
100%, 0%
CC as % of initial POS
First Loss Credit Facility
Second Loss Credit Facility
LF as % of initial POS
Series A2 Principal (Rs Cr)
EIS
OC
Pool Maturity
Maturity (months)
Pool Performance
Months Post Securitisation
Balance Tenure (Months)
Amortisation (Series A1 Principal)
Amortisation (Series A2 Principal)
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
Delinquency
90+ dpd
Overdue
180+ dpd
8.0%
12.0%
4.5%
7.5%
1.0%
5.8
19.6%
NA
Sep-18
54
Sep-15
Jun-15
18
36
50.1%
50.1%
6.3%
3.3%
8.7%
3.9%
3.5%
23.4%
8.4%
0.0%
97.3%
92.7%
0.0%
93.5%
97.2%
71.9%
82.7%
3.2
7.3
2.0
4.5
3.6%
15
39
38.9%
38.9%
6.6%
2.2%
8.3%
2.3%
2.4%
19.6%
7.4%
0.1%
100.0%
100.0%
7.5%
94.1%
99.7%
74.4%
83.3%
3.1
10.9
2.0
7.1
2.9%
Collection Efficiency
CCE
MCE
BCE
120.0%
6.0%
100.0%
4.0%
80.0%
2.0%
0.0%
60.0%
M1 M3 M5 M7 M9 M11 M13 M15 M17
M1 M3 M5 M7 M9 M11M13M15M17
94
Reliance Capital Ltd (RCL)
(1 Pool)
Key financial indicators
For the year ended as on 31st
March
Total Income (in Rs. Cr)
Profit After Tax (in Rs. Cr)
Tangible Net worth (in Rs. Cr)
Gross NPA ratio (%)
Capital Adequacy Ratio (CAR) (%)
2011
(12m, A)
1,971
229
6932
1.36
17.82
2012
(12m, A)
3,317
519
10906
1.75
20.21
2013
(12m, A)
3,868
662
11345
2.14
16.99
2014
(12m, A)
7,455
747
11458
1.88
16.31
2015
(12m, A)
8,787
1,001
13550
2.20
23.90
P*=Provisional, A=Audited

Total income for the company as on 31st March 2015 was Rs. 8,787 crores.

The Gross NPA ratio increased to 2.20% as of March 31, 2015. The increase in the NPA
was mainly due to the stress in the CV assets.

RCL reported CAR of 23.90% as of March 31, 2015.
Note: Shri Vijay Kumar Chopra, who is a Director on the board Reliance Capital Pension Fund
Limited (which is a part of Reliance Capital Group), is a member of the Rating Committee in
CARE. Shri Vijay Kumar Chopra did not participate in the rating process or in the meeting of the
Rating Committee when the rating of RCL was discussed.
95
Issue Name
Originator
Rating/Credit Opinion
Asset Class
Indian Receivables Trust 13
Reliance Capital Limited (RCL)
Series A PTCs - CARE AAA (SO)
New CV (71.79%) and Used CV (28.21%)
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
Dec-13
Par
81.3
96.7
1,715
15.1
9.0
100%,0%
CC as % of initial POS
13.2%
First Loss Credit Facility
NA
Second Loss Credit Facility NA
LF as % of initial POS
NA
EIS
7.1%
OC
NA
Pool Maturity
Jun-18
Maturity (months)
54
Pool Performance
Months Post Securitisation
Balance Tenure (Months)
Amortisation
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
90+ dpd
Overdue
Delinquency
180+ dpd
Sep-15
Jun-15
21
33
75.8%
3.2%
1.9%
7.2%
3.9%
2.5%
51.7%
NA
NA
100.0%
NA
NA
96.0%
97.4%
47.3%
NA
7.3
13.4
NA
NA
9.4%
18
36
67.7%
3.4%
2.0%
6.6%
3.2%
2.3%
40.8%
NA
NA
100.0%
NA
NA
95.9%
94.5%
56.9%
NA
6.5
13.3
NA
NA
7.7%
Collection Efficiency
4.0%
120.0%
3.0%
100.0%
2.0%
80.0%
1.0%
60.0%
CCE
MCE
BCE
40.0%
0.0%
M1
M4
M7
M10 M13 M16 M19
M1
M4
M7 M10 M13 M16 M19
96
SKS Microfinance Ltd
(SKSML– 6 Pools)
Key Financial Indicators
For the year ended as on 31st March
Total Income (in Rs. Cr)
Profit After Tax (in Rs. Cr)
Net worth (in Rs. Cr)
Gross NPA/Gross Advances(%)
Capital Adequacy Ratio (CAR)
2012
(12m, A)
472
(1361)
430
5.5
35.4
2013
(12m, A)
353
(297)
388
0.5
33.9
2014
(12m, A)
545
70
455
0.1
27.2
2015
(12m, A)
803
188
1,046
0.1
31.7
P*=Provisional, A=Audited

Total income for the FY15 increased by 47% to Rs. 803 crores from Rs. 492 crores in
FY14. SKSML has registered net profit of Rs 188 crores during FY15.

Asset quality remains stable with Gross NPA (excluding Andhra Pradesh) stood at 0.1%
at the end of FY15.

SKSMFL continues to have comfortable capital adequacy ratio (CAR) at 31.7% comprising
totally of Tier-I capital as on Mar 31, 2015.
97
Issue Name
Originator
Rating/Credit Opinion
Asset Class
Indian Microfinance Loan Receivables Trust December 2014 A
SKS Microfinance Ltd
Withdrawn
Microfinance Loans
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
PTC Series A Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Weeks)
Average Seasoning' (Weeks)
Overdue Composition
Dec-14
Par
75.0
70.5
80.9
93,450
31.5
18.7
100%, 0%
CC as % of initial POS
7.9%
First Loss Credit Facility
NA
Second Loss Credit Facility NA
LF as % of initial POS
NA
EIS
4.8%
Principal Subordination as
a % of Pool Principal
6.0%
Pool Maturity
Aug-16
Maturity (months)
20
Pool Performance
Months Post Securitisation
Balance Tenure (Months)
Pool Amortisation
Series A PTC Amortisation
30+ Delinquency (% of Initial POS)
90+ Delinquency (% of Initial POS)
30+ Delinquency (% of Balance POS)
90+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
CC as % of Balance PTC Principal
Balance CC (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Overall enhancement coverage (30+ DPD)
Overall enhancement coverage (90+ DPD)
Cumulative Prepayment
30+ dpd
Overdue
Delinquency
90+ dpd
1.0%
Jul-15
Jun-15
7
15
96.2%
96.2%
0.2%
0.1%
0.4%
0.2%
0.2%
159.2%
169.3%
100.0%
99.8%
99.6%
NA
NA
NA
1.5%
6
16
82.5%
82.5%
0.2%
0.1%
0.3%
0.2%
0.2%
34.3%
36.5%
100.0%
99.8%
99.7%
59.2%
>30
>30
1.2%
CCE
MCE
Collection Efficiency
BCE
120.0%
100.0%
80.0%
60.0%
40.0%
20.0%
0.0%
0.5%
0.0%
M1
M2
M3
M4
M5
M6
M7
M1
M2
M3
M4
M5
M6
M7
98
Issue Name
Originator
Rating/Credit Opinion
Asset Class
Indian Microfinance Loan Receivables Trust January 2015 A
SKS Microfinance Ltd
Series A PTC - CARE AA (SO)
Microfinance Loans
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
PTC Series A Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Weeks)
Average Seasoning' (Weeks)
Overdue Composition
Jan-15
Par
300.6
282.5
329.8
326,142
38.8
16.0
100%, 0%
CC as % of initial POS
7.8%
First Loss Credit Facility
NA
Second Loss Credit Facility NA
LF as % of initial POS
NA
EIS
5.6%
Principal Subordination as
a % of Pool Principal
6.0%
Pool Maturity
Oct-16
Maturity (months)
21
Pool Performance
Months Post Securitisation
Balance Tenure (Months)
Pool Amortisation
Series A PTC Amortisation
30+ Delinquency (% of Initial POS)
90+ Delinquency (% of Initial POS)
30+ Delinquency (% of Balance POS)
90+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
CC as % of Balance PTC Principal
Balance CC (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Overall enhancement coverage (30+ DPD)
Overall enhancement coverage (90+ DPD)
Cumulative Prepayment
Delinquency
30+ dpd
Overdue
90+ dpd
1.0%
Sep-15
Jun-15
9
13
94.5%
94.5%
0.1%
0.1%
0.3%
0.2%
0.1%
140.6%
149.6%
100.0%
99.8%
99.6%
NA
>30
>30
1.5%
6
16
65.1%
65.1%
0.2%
0.1%
0.3%
0.1%
0.1%
22.3%
23.8%
100.0%
99.8%
99.7%
70.0%
>30
>30
0.7%
Collection Efficiency
CCE
MCE
BCE
120.0%
100.0%
80.0%
60.0%
40.0%
20.0%
0.0%
0.5%
0.0%
M1 M2 M3 M4 M5 M6 M7 M8 M9
M1 M2 M3 M4 M5 M6 M7 M8 M9
99
Issue Name
Originator
Rating/Credit Opinion
Asset Class
Indian Microfinance Loan Receivables Trust February 2015 B
SKS Microfinance Ltd
Series A PTC - CARE AA (SO)
Microfinance Loans
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
PTC Series A Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Weeks)
Average Seasoning' (Weeks)
Overdue Composition
Feb-15
Par
243.2
218.9
262.9
332,077
32.7
22.3
100%, 0%
CC as % of initial POS
5.5%
First Loss Credit Facility
NA
Second Loss Credit Facility NA
LF as % of initial POS
NA
EIS
4.8%
Principal Subordination as
a % of Pool Principal
10.0%
Pool Maturity
Sep-16
Maturity (months)
19
Pool Performance
Months Post Securitisation
Balance Tenure (Months)
Pool Amortisation
Series A PTC Amortisation
30+ Delinquency (% of Initial POS)
90+ Delinquency (% of Initial POS)
30+ Delinquency (% of Balance POS)
90+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
CC as % of Balance PTC Principal
Balance CC (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Overall enhancement coverage (30+ DPD)
Overall enhancement coverage (90+ DPD)
Cumulative Prepayment
30+ dpd
Overdue
Delinquency
90+ dpd
1.0%
Sep-15
Jun-15
7
12
82.9%
82.9%
0.1%
0.1%
0.2%
0.1%
0.1%
58.5%
64.9%
100.0%
99.8%
99.7%
31.0%
>30
>30
1.2%
4
15
53.9%
53.9%
0.2%
0.0%
0.2%
0.0%
0.1%
21.7%
24.1%
100.0%
99.9%
99.8%
66.5%
>30
NA
0.6%
CCE
MCE
Collection Efficiency
BCE
120.0%
90.0%
0.5%
60.0%
0.0%
30.0%
M1
M2
M3
M4
M5
M6
M7
M1
M2
M3
M4
M5
M6
M7
100
Issue Name
Originator
Rating
Asset Class
Indian Microfinance Loan Receivables Trust March 2015 A
SKS Microfinance Ltd
Series A PTC - CARE AA (SO)
Microfinance Loans
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
PTC Series A Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Weeks)
Average Seasoning' (Weeks)
Overdue Composition
Mar-15
Par
106.4
96.3
115.8
121,303
36.3
20.0
100%, 0%
CC as % of initial POS
5.0%
First Loss Credit Facility
NA
Second Loss Credit Facility NA
LF as % of initial POS
NA
EIS
5.3%
Principal Subordination as
a % of Pool Principal
9.5%
Pool Maturity
Oct-16
Maturity (months)
21
Pool Performance
Months Post Securitisation
Balance Tenure (Months)
Pool Amortisation
Series A PTC Amortisation
30+ Delinquency (% of Initial POS)
90+ Delinquency (% of Initial POS)
30+ Delinquency (% of Balance POS)
90+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
CC as % of Balance PTC Principal
Balance CC (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Overall enhancement coverage (30+ DPD)
Overall enhancement coverage (90+ DPD)
Cumulative Prepayment
30+ dpd
Delinquency
90+ dpd
Overdue
1.0%
Sep-15
Jun-15
6
15
78.4%
78.4%
0.2%
0.1%
0.2%
0.1%
0.1%
44.0%
48.6%
100.0%
99.8%
99.6%
46.0%
>30
>30
1.0%
3
18
38.9%
38.9%
0.1%
0.0%
0.2%
0.0%
0.1%
15.6%
17.2%
100.0%
99.9%
99.9%
72.9%
>30
NA
0.2%
Collection Efficiency
CCE
MCE
BCE
120.0%
100.0%
0.5%
80.0%
60.0%
40.0%
0.0%
M1
M2
M3
M4
M5
M6
M1
M2
M3
M4
M5
M6
101
Issue Name
Originator
Rating
Asset Class
Indian Microfinance Loan Receivables Trust March 2015 B
SKS Microfinance Ltd
Series A PTC - CARE AA (SO)
Microfinance Loans
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
PTC Series A Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Weeks)
Average Seasoning' (Weeks)
Overdue Composition
Mar-15
Par
344.4
311.6
378.6
325,351
41.4
15.2
100%, 0%
CC as % of initial POS
5.0%
First Loss Credit Facility
NA
Second Loss Credit Facility NA
LF as % of initial POS
NA
EIS
5.6%
Principal Subordination as
a % of Pool Principal
9.5%
Pool Maturity
Dec-16
Maturity (months)
21
Pool Performance
Months Post Securitisation
Balance Tenure (Months)
Pool Amortisation
Series A PTC Amortisation
30+ Delinquency (% of Initial POS)
90+ Delinquency (% of Initial POS)
30+ Delinquency (% of Balance POS)
90+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
CC as % of Balance PTC Principal
Balance CC (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Overall enhancement coverage (30+ DPD)
Overall enhancement coverage (90+ DPD)
Cumulative Prepayment
30+ dpd
Overdue
Delinquency
90+ dpd
1.0%
Sep-15
Jun-15
6
15
63.1%
63.1%
0.2%
0.1%
0.2%
0.1%
0.1%
25.8%
28.5%
100.0%
99.7%
99.6%
63.3%
>30
>30
0.7%
3
18
27.8%
27.8%
0.1%
0.0%
0.1%
0.0%
0.0%
13.2%
14.5%
100.0%
99.8%
99.8%
74.7%
>30
NA
0.2%
Collection Efficiency
CCE
MCE
BCE
110.0%
100.0%
90.0%
80.0%
70.0%
60.0%
0.5%
0.0%
M1
M3
M5
M1
M3
M5
102
Issue Name
Originator
Rating
Asset Class
Indian Microfinance Loan Receivables Trust June 2015
SKS Microfinance Ltd
Series A PTC - CARE AA (SO)
Microfinance Loans
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
PTC Series A Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Weeks)
Average Seasoning' (Weeks)
Overdue Composition
Jun-15
Par
83.7
75.7
101.5
33,237
87.7
16.3
100%, 0%
Pool Performance
Months Post Securitisation
Balance Tenure (Months)
Pool Amortisation
Series A PTC Amortisation
30+ Delinquency (% of Initial POS)
90+ Delinquency (% of Initial POS)
30+ Delinquency (% of Balance POS)
90+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
CC as % of Balance PTC Principal
Balance CC (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Overall enhancement coverage (30+ DPD)
Overall enhancement coverage (90+ DPD)
Cumulative Prepayment
CC as % of initial POS
5.0%
First Loss Credit Facility
NA
Second Loss Credit Facility NA
LF as % of initial POS
NA
EIS
11.9%
Principal Subordination as
a % of Pool Principal
9.5%
Pool Maturity
Mar-17
Maturity (months)
21
Sep-15
Jun-15
3
18
11.7%
11.7%
0.1%
0.0%
0.1%
0.0%
0.0%
5.7%
6.3%
100.0%
99.9%
99.9%
78.5%
>30
NA
0.1%
-
103
Multi Originator Transaction - 2
(SKS Microfinance Limited & Janalakshmi
Financial Services Private Limited)
Key Financial Indicators for Janalakshmi Financial Services Private Limited and refer page
number 97 for SKS Microfinance Ltd.
For the year ended as on 31st March
Total Income (in Rs. Cr)
Profit After Tax (in Rs. Cr)
Net worth (in Rs. Cr)
Gross NPA (%)
Capital Adequacy Ratio (CAR)
2012
(12m, A)
71.09
1.22
95.59
0.70
24.85
2013
(12m, A)
169.47
18.06
190.70
0.08
19.43
2014
(12m, A)
408.99
50.63
513.96
0.37
28.19
2015
(6m, P)
320.54
32.14
546.11
0.50
22.67
P*=Provisional, A=Audited
 Income of JFSPL has grown at a rapid pace in last two years with exponential increase in scale of
business. JFSPL has registered net profit of Rs 32.14 Cr during H1FY15.
 JFSPL has been able to maintain asset quality at comfortable levels. As on Sep 30, 2014, GNPA%
stood at 0.50%.
 JFSPL continues to have comfortable capital adequacy ratio (CAR) at 22.67% as on September
30, 2014.
104
Issue Name
IMLRT February 2014 C
SKS Microfinance Limited
& Janalakshmi Financial Services Private Limited
Withdrawn
Microfinance Loans
Originator
Rating/Credit Opinion
Asset Class
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
PTC Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Weeks)
Average Seasoning' (Weeks)
Overdue Composition
Feb-14
Par
176.5
167.7
193.6
197,051
20.1
16.1
100%,0.0%
Pool Performance
30+ dpd
Overdue
90+ dpd
7.4%
NA
NA
LF as % of initial POS
NA
EIS
OC
Pool Maturity
Maturity (months)
5.2%
5.0%
Oct-15
20
Jul-15
Months Post Securitisation
Pool Amortisation
PTC Principal Amortisation
30+ Delinquency (% of Initial POS)
90+ Delinquency (% of Initial POS)
30+ Delinquency (% of Balance POS)
90+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
CC as % of Balance PTC Principal
Balance CC (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Overall enhancement coverage (30+ DPD)
Overall enhancement coverage (90+ DPD)
Cumulative Prepayment
Delinquency
CC as % of initial POS
First Loss Credit Facility
Second Loss Credit Facility
Jun-15
17
93.0%
94.8%
3.5%
3.3%
27.0%
25.3%
1.6%
125.0%
178.4%
100.0%
99.1%
103.3%
0.0%
NA
NA
6.4%
16
88.0%
89.7%
3.2%
3.1%
15.1%
14.6%
1.5%
73.0%
89.4%
100.0%
98.8%
101.8%
10.1%
5.94
6.18
5.3%
Collection Efficiency
CCE
BCE
MCE
120.0%
100.0%
80.0%
60.0%
40.0%
20.0%
0.0%
4.0%
3.0%
2.0%
1.0%
0.0%
M1
M4
M7
M10
M13
M16
M1
M4
M7
M10
M13
M16
105
Issue Name
Originator
Rating/Credit Opinion
Asset Class
IMLRT March 2014 E
SKS Microfinance Limited
& Janalakshmi Financial Services Private Limited
Withdrawn
Microfinance Loans
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
PTC Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Weeks)
Average Seasoning' (Weeks)
Overdue Composition
Mar-14
Par
170.0
161.5
186.5
177,910
22.5
14.7
100%,0.0%
Pool Performance
30+ dpd
Overdue
90+ dpd
7.4%
NA
NA
LF as % of initial POS
NA
EIS
OC
Pool Maturity
Maturity (months)
Jul-15
Months Post Securitisation
Pool Amortisation
PTC Principal Amortisation
30+ Delinquency (% of Initial POS)
90+ Delinquency (% of Initial POS)
30+ Delinquency (% of Balance POS)
90+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
CC as % of Balance PTC Principal
Balance CC (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Overall enhancement coverage (30+ DPD)
Overall enhancement coverage (90+ DPD)
Cumulative Prepayment
Delinquency
CC as % of initial POS
First Loss Credit Facility
Second Loss Credit Facility
5.0%
5.0%
Oct-15
18
Jun-15
15
90.7%
91.6%
1.4%
1.3%
8.6%
7.7%
0.6%
96.7%
112.4%
100.0%
100.7%
109.6%
0.0%
NA
NA
6.7%
14
86.2%
87.0%
1.3%
1.2%
5.6%
5.1%
0.6%
65.1%
72.8%
100.0%
100.4%
106.4%
24.8%
13.5
14.7
5.9%
Collection Efficiency
CCE
BCE
MCE
120.0%
100.0%
80.0%
60.0%
40.0%
20.0%
0.0%
1.5%
1.0%
0.5%
0.0%
M1
M4
M7
M10
M13
M1
M4
M7
M10
M13
106
Shriram City Union Finance ltd
(SCUFL – 2 Pools)
For the year ended as on 31st
March
Total AUM (in Rs. Cr)
Total Income (in Rs. Cr)
Profit After Tax (in Rs. Cr)
Gross NPA ratio (%)
Capital Adequacy Ratio (CAR) (%)
2012
(12m, A)
13,431
2,056
343
1.6
17.40
2013
(12m, A)
15,828
3,083
450
2.9
18.95
2014
(12m, A)
14,668
3,239
521
2.7
25.77
2015
(12m, A)
16,717
3,532
558
3.1
29.50
P*=Provisional, A=Audited

Total income for the FY15 increased by 9% to Rs. 3,532 crores from Rs. 3,239 crores in
FY14. SCUF has registered net profit of Rs 558 crores during FY15.

Asset quality deteriorated with Gross NPA increasing to 3.1% at the end of FY15 from
2.7% in FY14.

SCUF continues to have comfortable capital adequacy ratio (CAR) at 29.5% as on Mar
31, 2015.
Note: Mr. P. P. Pattanayak, who is a Director on the board of Shriram City Union Finance Ltd. is
a member of the Rating Committee in CARE. Mr Pattanayak did not participate in the rating
process or in the meeting of the Rating Committee when the rating of STFCL was discussed.
107
Issue Name
Originator
Rating/Credit Opinion
Asset Class
Small Business Loan Trust - March 2014
Shriram City Union Finance (SCUF)
Series A1 PTC - CARE AA (SO), Series A2 PTC - CARE A (SO)
SME Loans Receivables
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Series A1 Principal (Rs Cr)
Mar-14
Par
202.9
192.8
Future Receivables (Rs Cr)
254.9
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
CC as % of initial POS
First Loss Credit Facility
Second Loss Credit Facility
LF as % of initial POS
Series A2 Principal
(Subordinated to A1) (Rs Cr)
EIS
OC
Pool Maturity
Maturity (months)
3,594
16.9
8.6
100%, 0%
Pool Performance
Months Post Securitisation
Balance Tenure (Months)
Series A1 PTC Amortisation
Series A2 PTC Amortisation
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
90+ dpd
Overdue
Delinquency
180+ dpd
1.0%
6.4%
NA
NA
NA
10.1
14.0%
5.0%
Sep-18
54
Sep-15
Jun-15
17
37
63.5%
63.5%
0.0%
0.0%
0.0%
0.0%
0.4%
17.5%
NA
NA
100.0%
NA
NA
99.5%
99.9%
78.1%
NA
NA
NA
NA
NA
10.7%
14
40
53.7%
53.7%
0.0%
0.0%
0.0%
0.0%
0.4%
13.8%
NA
NA
100.0%
NA
NA
99.4%
99.5%
80.9%
NA
NA
NA
NA
NA
8.8%
Collection Efficiency
CCE
MCE
BCE
110.00%
100.00%
0.5%
90.00%
80.00%
0.0%
70.00%
M1
M4
M7
M10
M13
M16
M1
M4
M7
M10
M13
M16
108
Issue Name
Originator
Rating/Credit Opinion
Asset Class
Privilege Trust Series 10 - March 15
Shriram City Union Finance (SCUF)
Series A1 PTC - CARE AAA (SO), Series A2 PTC - CARE AA- (SO)
SME Loans Receivables
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Series A1 Principal (Rs Cr)
Mar-15
Par
94.3
89.6
Future Receivables (Rs Cr)
124.3
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
CC as % of initial POS
First Loss Credit Facility
Second Loss Credit Facility
LF as % of initial POS
Series A2 Principal
(Subordinated to A1) (Rs Cr)
EIS
OC
Pool Maturity
Maturity (months)
636
20.4
9.4
100%, 0%
Pool Performance
Months Post Securitisation
Balance Tenure (Months)
Series A1 PTC Amortisation
Series A2 PTC Amortisation
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
90+ dpd
Delinquency
180+ dpd
Overdue
1.0%
9.0%
NA
NA
NA
4.7
16.5%
5.0%
Sep-19
53
Sep-15
Jun-15
5
48
17.5%
17.5%
0.0%
0.0%
0.0%
0.0%
0.1%
10.9%
NA
NA
100.0%
NA
NA
99.5%
99.1%
80.7%
NA
NA
NA
NA
NA
4.8%
2
51
5.4%
5.4%
0.0%
0.0%
0.0%
0.0%
0.0%
9.5%
NA
NA
100.0%
NA
NA
100.0%
NA
81.3%
NA
NA
NA
NA
NA
0.2%
CCE
MCE
Collection Efficiency
BCE
120.0%
110.0%
0.5%
100.0%
90.0%
80.0%
0.0%
M1
M2
M3
M4
M5
M1
M2
M3
M4
M5
109
Shriram Transport Finance Company
Ltd (STFCL) – 9 (Pools)
Key Financial Indicators
For the year ended as on 31st March
Total Income (in Rs. Cr)
Profit After Tax (in Rs. Cr)
Net worth (in Rs. Cr)
Gross NPA (%)
Capital Adequacy Ratio (%)
2012
(12m, A)
6,179
1,309
5,771
2.92
22.26
2013
(12m, A)
7,016
1,463
7,012
3.10
20.74
2014
(12m, A)
8,480
1,358
8,209
3.75
23.37
2015
(12m, A)
9,180
1,028
8,510
3.79
20.56
P*=Provisional, A=Audited

STFCL reported PAT of Rs. 1,028 crore on total income of Rs. 9,180 crore during FY15 as
compared to PAT of Rs. 1,358 crore on total income of Rs. 8,480 crore during FY14.

It reported Gross NPA ratio of 3.79% at the end of FY15, slightly higher than 3.75% at
the end of FY14.

STFCL reported the CAR of 20.56% as on March 31, 2015, as compared to 23.37% as on
March 31, 2014.
Note: Mr. P. P. Pattanayak, who is a Director on the board of Shriram City Union Finance Ltd.
(which is part of the Shriram Group), is a member of the Rating Committee in CARE. Mr
Pattanayak did not participate in the rating process or in the meeting of the Rating Committee
when the rating of STFCL was discussed.
110
Issue Name
Originator
Rating/Credit Opinion
Asset Class
STFCL CV Trust Mar 2013-II
Shriram Transport Finance Company Ltd
Series A1 PTCs and Series A2 PTC - CARE AAA (SO)
& Second Loss Facility - CARE BBB (SO) Equivalent
HCV (57.83%), S & LCV (15.30%), CE (14.77%) and PV (12.10%)
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
Mar-13
Par
547.8
668.3
16,066
16.6
14.0
86.78%, 13.22%
Pool Performance
Sep-15
30
24
89.6%
4.6%
3.7%
10.0%
5.0%
4.1%
81.5%
43.9%
NA
95.1%
91.3%
NA
97.1%
101.1%
21.5%
56.1%
7.9
15.8
4.4
8.8
16.9%
Months Post Securitisation
Balance Tenure (Months)
Amortisation
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
Delinquency
90+ dpd
Overdue
CC as % of initial POS 8.9%
First Loss Credit
5.0%
Second Loss Credit
3.9%
LF as % of initial POS
NA
EIS
10.7%
OC
NA
Pool Maturity
Sep-17
Maturity (months)
54
180+ dpd
6.0%
5.0%
4.0%
3.0%
2.0%
1.0%
0.0%
Collection Efficiency
Jun-15
27
27
86.3%
5.2%
3.5%
11.3%
4.3%
4.2%
61.0%
32.5%
NA
93.8%
89.0%
NA
97.0%
101.4%
40.6%
66.5%
5.2
13.9
3.0
7.8
16.6%
CCE
MCE
BCE
120.0%
100.0%
80.0%
60.0%
40.0%
20.0%
M4
M9
M14
M19
M24
M29
M1
M6 M11 M16 M21 M26
111
Issue Name
Originator
Rating/Credit Opinion
Asset Class
Commercial Vehicle Trust March 2013 II
Shriram Transport Finance Company Ltd
Series A1 PTCs and Series A2 PTC - CARE AAA (SO)
& Second Loss Facility - CARE A- (SO) Equivalent
HCV (48.49%), S & LCV (20.80%), CE (18.07%) and PV (12.64%)
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
Mar-13
Par
206.4
250.4
6,090
16.8
13.2
92.59%, 7.41%
CC as % of initial POS 9.3%
First Loss Credit
5.0%
Second Loss Credit
4.3%
LF as % of initial POS
NA
EIS
10.5%
OC
NA
Pool Maturity
Oct-17
Maturity (months)
54
Pool Performance
Sep-15
29
25
87.9%
4.0%
3.2%
7.4%
4.0%
3.7%
76.5%
40.9%
NA
99.2%
98.5%
NA
97.7%
107.0%
25.9%
58.7%
10.0
18.7
5.6
10.4
15.8%
Months Post Securitisation
Balance Tenure (Months)
Amortisation
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
Delinquency
90+ dpd
Overdue
180+ dpd
Collection Efficiency
5.0%
120.0%
4.0%
100.0%
3.0%
80.0%
2.0%
60.0%
1.0%
40.0%
Jun-15
26
28
83.6%
4.3%
3.4%
7.9%
4.9%
3.9%
54.1%
27.9%
NA
95.2%
91.2%
NA
97.3%
95.5%
46.5%
70.4%
6.8
10.8
3.8
6.0
15.1%
CCE
MCE
BCE
20.0%
0.0%
M1
M6
M11
M16
M21
M26
M1
M6 M11 M16 M21 M26
112
Issue Name
Originator
Rating/Credit Opinion
Asset Class
Sansar Trust Mar 2013-VII
Shriram Transport Finance Company Ltd
Series A1 PTCs and Series A2 PTC - CARE AA (SO)
& Second Loss Facility - CARE A- (SO) Equivalent
HCV (49.16%), CE (19.83%), S & LCV (19.66%) and PV (11.35%)
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
Mar-13
Par
200.7
244.2
5,421
17.1
12.3
90.11%, 9.89%
CC as % of initial POS 9.3%
First Loss Credit
5.0%
Second Loss Credit
4.3%
LF as % of initial POS
NA
EIS
10.6%
OC
NA
Pool Maturity
Oct-17
Maturity (months)
54
Pool Performance
Sep-15
29
25
86.5%
4.3%
3.0%
7.7%
3.0%
4.0%
67.2%
35.2%
NA
97.2%
94.8%
NA
97.3%
101.4%
34.4%
63.8%
8.5
22.1
4.7
12.2
15.6%
Months Post Securitisation
Balance Tenure (Months)
Amortisation
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
90+ dpd
Overdue
Delinquency
180+ dpd
5.0%
Collection Efficiency
Jun-15
26
28
82.4%
4.7%
2.8%
8.2%
2.3%
4.0%
50.2%
25.8%
NA
95.0%
90.6%
NA
97.1%
96.6%
50.1%
72.3%
6.1
21.7
3.4
12.1
15.3%
CCE
MCE
BCE
110.0%
4.0%
90.0%
3.0%
70.0%
2.0%
1.0%
50.0%
0.0%
30.0%
M1
M6
M11
M16
M21
M26
M1
M6 M11 M16 M21 M26
`
113
Issue Name
Originator
Rating/Credit Opinion
Asset Class
Sansar Vehicle Trust Mar 2013-VI
Shriram Transport Finance Company Ltd
Series A1 PTCs and Series A2 PTC - CARE AAA (SO)
& Second Loss Facility - CARE BBB+ (SO) Equivalent
Tractors (30.51%), HCV (28.97%), S & LCV (21.23%), PV (10.09%) and CE (9.20%)
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
Mar-13
Par
124.7
153.5
4,059
18.4
9.9
88.25%, 11.75%
Pool Performance
Sep-15
30
23
85.5%
5.6%
4.6%
11.1%
7.0%
4.5%
83.6%
29.2%
NA
94.2%
84.9%
NA
97.0%
92.4%
19.9%
69.9%
7.2
11.5
2.7
4.3
14.0%
Months Post Securitisation
Balance Tenure (Months)
Amortisation
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
Delinquency
90+ dpd
Overdue
180+ dpd
6.0%
5.0%
4.0%
3.0%
2.0%
1.0%
0.0%
CC as % of initial POS 12.9%
First Loss Credit
5.0%
Second Loss Credit
7.9%
LF as % of initial POS
NA
EIS
12.6%
OC
NA
Pool Maturity
Aug-17
Maturity (months)
53
Collection Efficiency
Jun-15
27
26
80.3%
4.8%
4.0%
8.3%
6.0%
3.9%
63.5%
23.4%
NA
97.1%
92.5%
NA
97.2%
99.7%
38.7%
75.1%
7.4
10.3
3.0
4.2
13.1%
CCE
MCE
BCE
120.0%
100.0%
80.0%
60.0%
40.0%
20.0%
0.0%
M1
M6
M11 M16 M21 M26
M1
M6 M11 M16 M21 M26
114
Issue Name
Originator
Rating/Credit Opinion
Asset Class
Sansar Trust Feb 2014 –IV
Shriram Transport Finance Company Ltd
Series A PTCs - CARE AA (SO)
& Second Loss Facility - CARE A- (SO) Equivalent
Used CV(92.87%) & New CV(7.13%)
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
Mar-14
Par
549.8
672.8
14,311
16.4
9.4
86.0%, 14.0%
CC as % of initial POS 9.2%
First Loss Credit
5.0%
Second Loss Credit
4.2%
LF as % of initial POS
NA
EIS
11.0%
OC
NA
Pool Maturity
Jun-17
Maturity (months)
54
Pool Performance
Sep-15
18
36
64.3%
4.6%
1.7%
6.5%
1.1%
4.4%
25.7%
13.9%
NA
99.5%
99.2%
NA
96.2%
96.0%
71.6%
82.0%
4.4
24.9
2.8
15.8
9.7%
Months Post Securitisation
Balance Tenure (Months)
Amortisation
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
90+ dpd
Overdue
Delinquency
180+ dpd
5.0%
Jun-15
15
39
55.3%
3.1%
1.2%
3.4%
0.6%
3.7%
20.6%
11.2%
NA
100.0%
100.0%
NA
96.2%
105.0%
75.9%
84.0%
7.0
>30
4.7
28.6
8.4%
Collection Efficiency
CCE
MCE
BCE
110.0%
4.0%
100.0%
3.0%
90.0%
2.0%
1.0%
80.0%
0.0%
70.0%
M1
M4
M7
M10 M13 M16
M1
M4
M7 M10 M13 M16
115
Issue Name
Originator
Rating/Credit Opinion
Asset Class
STFCL CV Trust Nov 2012-I
Shriram Transport Finance Company Ltd
Withdrawn
Used CV (76.83%) & New CV (23.17%)
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
Nov-12
Par
500.1
615.2
14,418
17.9
13.3
91.31%, 8.69%
CC as % of initial POS 10.8%
First Loss Credit
5.0%
Second Loss Credit
5.8%
LF as % of initial POS
NA
EIS
9.4%
OC
NA
Pool Maturity
May-17
Maturity (months)
54
Pool Performance
Jul-15
32
NA
90.2%
3.2%
2.6%
6.3%
2.7%
3.2%
78.9%
26.9%
NA
93.8%
83.9%
NA
98.1%
101.4%
NA
NA
NA
NA
NA
NA
13.4%
Months Post Securitisation
Balance Tenure (Months)
Amortisation
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
Delinquency
90+ dpd
Overdue
180+ dpd
Collection Efficiency
4.0%
120.0%
3.0%
100.0%
Jun-15
31
NA
89.1%
3.3%
2.5%
6.6%
2.4%
3.2%
70.4%
23.8%
NA
93.4%
82.8%
NA
98.1%
100.9%
NA
NA
NA
NA
NA
NA
13.2%
CCE
MCE
BCE
80.0%
2.0%
60.0%
1.0%
40.0%
0.0%
20.0%
M1
M6 M11 M16 M21 M26 M31
M1 M6 M11 M16 M21 M26 M31
116
Issue Name
Originator
Rating/Credit Opinion
Asset Class
STFCL CV Trust Nov 2012-III
Shriram Transport Finance Company Ltd
Withdrawn
Used CV(82.69%) & New CV(17.31%)
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
Nov-12
Par
372.8
458.2
10,703
18.1
13.9
92.64%, 7.36%
Pool Performance
Aug-15
33
NA
91.7%
2.8%
2.4%
4.5%
1.7%
3.0%
84.0%
27.7%
NA
92.2%
79.6%
NA
98.8%
101.9%
NA
NA
NA
NA
NA
NA
15.2%
Months Post Securitisation
Balance Tenure (Months)
Amortisation
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
Delinquency
90+ dpd
Overdue
180+ dpd
4.0%
CC as % of initial POS 10.2%
First Loss Credit
5.0%
Second Loss Credit
5.2%
LF as % of initial POS
NA
EIS
9.5%
OC
NA
Pool Maturity
May-17
Maturity (months)
54
Collection Efficiency
Jun-15
31
NA
89.7%
2.9%
2.3%
4.7%
1.3%
3.0%
67.3%
22.1%
NA
91.9%
78.8%
NA
98.8%
105.4%
NA
NA
NA
NA
NA
NA
14.9%
CCE
MCE
BCE
120.0%
100.0%
80.0%
60.0%
40.0%
20.0%
0.0%
3.0%
2.0%
1.0%
0.0%
M1
M6 M11 M16 M21 M26 M31
M1 M6 M11 M16 M21 M26 M31
117
Issue Name
Originator
Rating/Credit Opinion
Asset Class
STFCL CV Trust Dec 2012-II
Shriram Transport Finance Company Ltd
Withdrawn
Used CV (72.91%) & New CV (27.09%)
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
Dec-12
Par
220.4
270.6
5,286
17.5
12.0
90.38%, 9.62%
CC as % of initial POS 10.9%
First Loss Credit
5.0%
Second Loss Credit
5.9%
LF as % of initial POS
NA
EIS
9.7%
OC
NA
Pool Maturity
May-17
Maturity (months)
53
Pool Performance
Jul-15
31
NA
90.8%
5.1%
4.3%
10.6%
6.6%
4.5%
115.6%
51.2%
NA
97.1%
93.8%
NA
96.9%
104.5%
NA
NA
NA
NA
NA
NA
18.4%
Months Post Securitisation
Balance Tenure (Months)
Amortisation
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
Delinquency
90+ dpd
Overdue
180+ dpd
10.0%
Collection Efficiency
Jun-15
30
NA
89.8%
5.1%
4.4%
10.7%
6.5%
4.5%
103.9%
45.8%
NA
96.8%
93.1%
NA
96.8%
110.7%
NA
NA
NA
NA
NA
NA
18.3%
CCE
MCE
BCE
120%
8.0%
90%
6.0%
60%
4.0%
30%
2.0%
0%
0.0%
M1
M6
M11 M16 M21 M26 M31
M1
M6 M11 M16 M21 M26 M31
118
Issue Name
Originator
Rating/Credit Opinion
Asset Class
Grand Development Trust June 2013 I
Shriram Transport Finance Company Ltd
Withdrawn
Used CV(62.86%) & New CV(37.14%)
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
Jun-13
Par
320.7
383.5
6,782
14.9
6.7
86.74%, 13.26%
CC as % of initial POS 10.4%
First Loss Credit
4.0%
Second Loss Credit
6.4%
LF as % of initial POS
NA
EIS
9.0%
OC
NA
Pool Maturity
Jun-17
Maturity (months)
48
Pool Performance
Aug-15
26
NA
90.1%
6.9%
3.3%
22.8%
3.6%
5.2%
99.8%
35.5%
NA
95.5%
88.2%
NA
96.0%
101.6%
NA
NA
NA
NA
NA
NA
16.7%
Months Post Securitisation
Balance Tenure (Months)
Amortisation
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
90+ dpd
Overdue
Delinquency
180+ dpd
10.0%
Jun-15
24
NA
86.5%
7.3%
3.7%
20.2%
5.2%
5.4%
71.6%
24.4%
NA
93.2%
82.4%
NA
95.8%
107.0%
NA
NA
NA
NA
NA
NA
16.1%
Collection Efficiency
CCE
MCE
BCE
150.0%
8.0%
100.0%
6.0%
4.0%
50.0%
2.0%
0.0%
0.0%
M1
M6
M11
M16
M21
M26
M1
M6
M11 M16 M21 M26
119
Srei Equipment Finance Private Ltd
(SEFPL) – 2 (Pools)
Key Financial Indicators
For the period ended as on March 31,
Income from finance activities (in Rs. Cr)
Profit After Tax (in Rs. Cr)
Gross NPA (%)
Capital Adequacy Ratio (%)
2012
(12m, A)
1661
197
2.80
16.90
2013
(12m, A)
2,147
270
2.80
16.20
2014
(12m, A)
2,380
225
4.80
17.10
2015
(12m, A)
2,320
153
4.70
17.10
P*=Provisional, A=Audited

As per the results for FY15, SEFPL earned a Income from finance activities of Rs.2,320
crore.

Gross NPA ratio stood at 4.70% and Net NPA of 3.60 as on March 31, 2015

CAR for SEFPL stood at 17.1% as on FY15.
120
Issue Name
Originator
Rating/Credit Opinion
Asset Class
Indian Infrastructure Equipment Receivables Trust - March 2013 - IV
Srei Equipment Finance Private Limited
Withdrawn
Construction Equipment
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
Mar-13
Par
100.0
117.2
507
16.1
7.7
100%, 0.0%
CC as % of initial POS
10.0%
First Loss Credit Facility
NA
Second Loss Credit Facility NA
LF as % of initial POS
NA
EIS
6.4%
OC
NA
Pool Maturity
Sep-17
Maturity (months)
54
Pool Performance
Months Post Securitisation
Balance Tenure (Months)
Amortisation
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
90+ dpd
Overdue
Delinquency
5.0%
4.0%
3.0%
2.0%
1.0%
0.0%
180+ dpd
Sep-15
Jun-15
29
25
90.1%
3.7%
2.4%
11.7%
6.2%
3.1%
100.7%
NA
NA
100.0%
NA
NA
96.6%
97.4%
0.0%
NA
NA
NA
NA
NA
4.38%
27
27
86.3%
3.6%
2.4%
10.9%
6.1%
3.0%
73.2%
NA
NA
100.0%
NA
NA
96.6%
97.2%
29.0%
NA
6.5
11.7
NA
NA
3.96%
CCE
MCE
Collection Efficiency
BCE
120.0%
100.0%
80.0%
60.0%
40.0%
20.0%
0.0%
M1
M6
M11
M16
M21
M26
M1
M6
M11
M16
M21
M26
121
Issue Name
Originator
Rating/Credit Opinion
Asset Class
Indian Infrastructure Equipment Receivables Trust - March 2013 - II
Srei Equipment Finance Private Limited
Withdrawn
Construction Equipment
Issue Details
Transaction Month
Transaction Structure
Pool Principal (Rs Cr)
Future Receivables (Rs Cr)
No of Contracts
Average Maturity (Months)
Average Seasoning' (Months)
Overdue Composition
Mar-13
Par
65.8
78.5
342
16.7
7.0
100%, 0.0%
Pool Performance
Sep-15
Months Post Securitisation
Balance Tenure (Months)
Amortisation
90+ Delinquency (% of Initial POS)
180+ Delinquency (% of Initial POS)
90+ Delinquency (% of Balance POS)
180+ Delinquency (% of Balance POS)
Overdue Amt (% of Initial POS)
CC as % of Balance POS
FLF as % of Balance POS
LF as % of Balance POS
Balance CC (unutilized)
Balance FLF (unutilized)
Balance LF (unutilized)
CCE
MCE (3 month average)
Break even Collection Efficiency
Break even Collection Efficiency(FLF)
Overall enhancement coverage (90+ DPD)
Overall enhancement coverage (180+ DPD)
FL enhancement Coverage (90+ DPD)
FL enhancement Coverage (180+ DPD)
Cumulative Prepayment
90+ dpd
Overdue
Delinquency
10.0%
8.0%
6.0%
4.0%
2.0%
0.0%
180+ dpd
CC as % of initial POS
10.0%
First Loss Credit Facility
NA
Second Loss Credit Facility NA
LF as % of initial POS
NA
EIS
7.5%
OC
NA
Pool Maturity
Dec-15
Maturity (months)
46
M6
M11
M16
M21
M26
27
19
84.3%
6.3%
5.1%
16.3%
11.3%
4.43%
63.7%
NA
NA
100.0%
NA
NA
95.4%
98.1%
37.9%
NA
3.8
5.5
NA
NA
6.54%
Collection Efficiency
120.0%
100.0%
80.0%
60.0%
40.0%
20.0%
0.0%
M1
Jun-15
30
16
90.3%
6.2%
5.9%
20.2%
18.3%
4.51%
103.6%
NA
NA
100.0%
NA
NA
95.5%
98.2%
0.0%
NA
NA
NA
NA
NA
8.06%
M1
M6
CCE
MCE
BCE
M11 M16 M21 M26
122
Analyst Contact
Vijay Agrawal
Joint General Manager
Tel- +91-22-67543416
vijay.agrawal@careratings.com
Ramadasu Bandaru
Sr. Manager
Tel- +91-22-67543402
ramadasu.bandaru@careratings.com
Disclaimer
CARE’s ratings are opinions on credit quality and are not recommendations to buy, sell or hold any security. CARE
has based its ratings on information obtained from sources believed by it to be accurate and reliable. CARE does
not, however, guarantee the accuracy, adequacy or completeness of any information and is not responsible for
any errors or omissions or for the results obtained from the use of such information. Most issuers of securities
rated by CARE have paid a credit rating fee, based on the amount and type of securities issued.
Credit Analysis & Research Limited , 4th Floor, Godrej Coliseum, Somaiya Hospital Road,
Off Eastern Express Highway, Sion East, Mumbai-22, INDIA
Tel: 022 – 6754 3456 Fax: 022 – 6754 3457
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