ts fufifrdd Bankofuaroda
BCC:lSD:108/'16l2M
Vice-President,
Ltd.,
Phiroze Jeejeebhoy Towers
Datal Street
The
BSE
00'l
CODE.532134
Mumbai - 400
BSE
Date:
'1
3th May 2016
Vice-President,
I Nationat Stock Exchange of lndia Ltd.
I Exchange Ptaza,
Bandra Kurla Comptex, Bandra (E)
Mumbai - 400 051
I The
CODE.BANKBARODA
Dear Sir/ Madam,
Re:
Bank
of
Baroda
-
Standalone (Audited) and Consolidated (Audited) Financial
/ Flnancial Year Ended 31* i arch 2O16 - Regulation 33
Results for the Quarter
Further to our tetter No. BCC:ISD:108/16I188 dated 06.05.2016, we advise as under,
pursuant to Regutation 33 and other appticable Regulations of SEBI (Listing Obtigations &
Disctosure Requirements) Regutations, 2015
ClRl CFD I C
O 1
read with SEBI Circular
No.
1512015 dated 30.'1 1.2015:
'1.
The Board of Directors of our Bank at its meeting hetd today i.e. 13.05.2016
considered & approved the Standatone (Audited) and Consol.idated (Audited)
Financial Results of the Bank together with retevant segment reporting, for
the Quarter / Financiat Year ended 31't March 2016
2.
ln terms of
/
RBI Circutar No. RBI/2004.05/451 DBOD.NO.BP.BC.88/21.02,
067 12004.05 dated 04.05.2005, no dividend is payabLe for FY 2015-'16, due to
non-avaitabitity of Current Year's Profit.
A copy of the
Standatone (Audited) & Consotidated (Audited) Financiat Resutts in
prescribed formats pursuant SEBI Regulations / Circutar, duly signed is enctosed herewith
atong with the Auditors' Reports and "Form - A", inctuding Segment Reporting, Statement
of Assets and Liabitities, etc.
The Meeting of the Board of Directors commenced at 3.30 p.m. and conctuded at 4.50
p.m.
We request you to take a note of the above pursuant to Regulation 33 of the SEBI (Listing
Obligations & Disctosure Requirements) Regulations, 2015.
The information may kindly be uptoaded on your website.
Yours faithfully,
M.L. Jain
Dy. Generat Manager
Company Secretary
Encl. - As Above
T+qrorqitc +<r, S-26.
d afir, qr<r,gidtaiqnN,
iTEr (g..), dlf , 400 os1 ,rR".
Baroda Corporate Centre, C-26, G Block, Eandra Kuna Complex, Bandra (E) itumba 400 051 tnd,a
(6lr / Phone 91 22 6698 5812 /
s846
i ld/
E'marl
. +€ / Fax 91 22 2652 6660
com pa nysecretary bcc@bankofbaroda
com
.id/Web
www ban kofbaroda .om
3
onn.**
aat
dtu
No.506. Mandvl, Earoda. 390006
colporar€ oltice: c.26,
G Block, aandra
Ku a complex,3rnd6 (E), Mumbai4o00s1
Audited Financial Results for the Quarter/ Year ended 31st March, 2016
rl12,9r
12057.39
47365,55
5179L17
prcfir (+rLoss (.,rom ord'nary
Act vities befor€ tax (7.3-9)
(5053.03)
Ord'n.r, A.trvines a,ter tar (r0.Ir)
Add share oleaminqs in Associates
Prid-lp equit) shar. cap bL
pitar
Ralio (%)- 8.5er-ll
^dequacy
Dtar adeouacy
iatio (%) aasellr
Basi. and dirut d EPs beforc and
Extraod narY items, net of tar
xDenser lnot.nnuaxzed) I ina l
&-
Notesforming p.rt ofthe audited financial resultsforthe Quarter,'Year ended 3Ist March, 2016
Commit.. or Bo.d in th.ir m..tinq h.ld o'13th r"v 2016 tnd
. be.n cvi.red hv the
th;B@d
a,prcv€d bv
2016 rhe s.m€ have bc.n subr.d.d ro Aud t bv th. sbturory c'nrdrAudtots or
h.ld on 13ah Mav^udit
sto'k
rmi ir ed bv R6eN. E k of .dia and ts p€r th. requ r.m.nt of Listinq.!r..m.nt
o, onectoB in then me€tins
'ith
2
A..ou.tino por.i.s hav€ b..^.ons st..tly applid durnq the vear aid thsre is io mat n.rch.ns
rh. year..ded Mr(h 2016.s.omparcd to thos. fo lored lor the v..r.nd€d M.r.h 2015
I
Ine
fi....i.r
..surrs ror
th. qu.fre/ y... end.d 31st a(h 2016 hav€ b€.n rriv.d .t .n€r.o.t'd.n.q povisDn for Noh p.nomi.q
tur.d A.*ts a.d d€pr€cirrron / povisioi for lNestm.nts on th. b.sis or orud.ntial .oms .nd sp.cifi.
hat mad. provieion @ 20% on the s..ur.d sub.nandad Advan.. !5 aqanst the R.guato.v
E .ndins o...mber 2015 and
lmpr.h.nt.d th. $r dne.tion
r.at.d Dra
th. Bank
E iully
of
rv.6ib1e
I a43.oes
M
o. a..
ac.od.nce with UDAY (uiw. oiscom Assur.n.. Yojna)
Pos€r O'rnrbution compani.s (Drscottr) duri.o the 20Is 16, th. b.ik h.5 subs..ib€d to Non sLR sol Bond of G.v.hh.nt of
Rajaslha.lGoR) and Gd.m6.nt or uP{GouP).mountinq tol1975 65 cu & t 297 16.rcr6 Esp€criv.ly.
DBR EP.No 11657,21 04 13212015.16 dat.d 17th t{arch2016, b.nk has d.d. the provGionas under:
3 .
0r 12l53cror.rinrcsp.ctotsegm.ntnote.visaqedtob..onve4.dintosoLlnry20t6.l7@15%onl310.36.ro..sand.lassfedas
ii) r. z5.31.rcEstordiminuiion i. ih. t rvaiu.orroan/DrscoM bond5
accou ins lt.ndrd (As) 15 isu.d by
ra
..l.ulatio.byshiltinomo..lityr.
Dunng
th. y€a., th. bank h.r rcvaru.d th€ p..6is.r rormino pafr ot its fir.d.ts.ts *h.dule. Th... pr€mis.s are rcv. ued b.s.d on th.
su.p rut ..ti.q lrc m Ralu.iion.molnt ot a 3241 3r coc h.t b..n add.d to'R4alu.rion
r.ports of bank's.pprov.d v.lu.E a.d the
d..rded to
r io. oBRNOSP 1301321.0. 043/20r5j6 d.t.d 12 01 2016, Ba.k
din! orr re6r.O2 crcG.! on 1r 0
un d to b. m.d. in eo qu.freB
maa.rh.fulGqun
NA&{RO/STOBT
Jo.., 2016 Ho,ry.r brnk h.s
in
d p
rnd trHB on r.count or shortl.n in b.din! to kionty s€doi under "oth.r Ass.t
nde. ' nt.r.s! Earn.d. oth.u'
BP BC
2/2r 0520v20t3-r.
d.t.d
c.pibln.9Ubnonrne*d.bilsar.b€in!m.d.av.il.bl.onoulw.bsib.m,banr
subj€d.d
rs
Durins
to Aud t by the auditoG
th.
y..i
nq cov..ao€ Ratro s 50 09
on 29th
s.rt
with sEarl coR) R.9olatons ?009 on
*
aron 3rst Ma(h 2016
5,53,592.h.Es orr
pr.r.r.nt rlb.r s rotrr.mount r..eiv.d
e
r€asonrbl. c.tuinty or
cprbilt
2/'...h luly
d.t
or toEign
.
o
has
has
^ccounting
17 Ouins th. year a p.narv or.49 43lac w.s hpo5.d by (Rsr/ Finan. .r rnt.niq.i.e unit
s ror
t90 7. p.r
in.c.o.dan..
by sank 6n this ac.oun
y... o. r..sration
creat.d rh. D.f.n.d ta
a.@!nr.r p.r
Staidad.?2.
brnk
.fr
rt a prohium
d 23th s.pt.2015
D.id up
b..i .r.dii.d
to
p6ft rnd
loss
iFrurov..*as R.9u.to6)
th. quad.r..d.d r103 ?016 P.ndins,t 3.9innins.ril;
(
ln Lacsl
A55ETS
20
ft.
figurcs ror
th. quad.r
..
viousy..ra€ th.balan.i.q
p€dl
r.aranq.d
wh.r.v.rn..ess
V
e ath
thos€
figures ot
or th..urent p.riod
k\.
/F,
segment reporting for the Quarter/Year end€d 3rst March, 2016
Part A - Bus ness Seqhents
Year Ended (Standalone)
/ear Ended (consolidated)
Part.B: GeooraPh c Seqment5
l
Asperquiderines of
RBr on compriance
'otheraanki.o operations'
pu.oose or cooolian.e
2
3
4
withAccolnnno Standards,rhe Banklras adopted 'Treasury operariont , wholesare, ietailand
a nd r.ternation.l .s se co nd a ry / 9.o9ra ph ic segm.nts tor the
as P.ina ry business seg ments a.d 'oon estic'
withAS'17 on seqm.nt ReDo.tinq issu.d bv lCAl
Segment evenue repres.nts rev.nue
lioo .rtemal
customeG.
Capital emproyed lor each seqment has been arrocated proport'onate to the a55ets ol the seoment.
The figures ol prevrous pe.iod/ year have been reqrouped/ rearanqed wherever necessary so ar to make th€m comparable w th those
l4'u"
&(
q;r-.
...',
V'
ofthe
\,-L #fu/e
Khandelwal Jain & Co.
Chartered Accountants
Wahi & Gupta
Chartered Accountants
SRGoyal&Co
Rodi Dabir & Co
Chartered Accountants
Chartered Accountants
lndeoendent Auditors ReDort
To
Th€ shareholders of Bank of Baroda
Report on the Financial Statements.
1. We have aud ited the accompa nying financial statements of Bank of Baroda as on 31st March,
2016, which comprise the Balance Sheet as on 315t March, 2016, and Profit and Loss Account
and the Cash Flow Statement for the year then ended, and a summary of significant
accounting policies and other explanatory information. lncorporated in these financial
statements are the returns of 20 branches and one Specialized lntegrated Treasury Branch
audited by us,2566 branches audited by Statutory Branch Auditors and 49 foreign branches
audited by local auditors in respective countries. The branches audited by us and those
audited by other auditors have been selected by the Bank in accordance with the guidelines
issued to the Bank by the Reserve Bank of lndia. Also incorporated in the Balance sheet and
the Profit and Loss Account are the returns Ircm 2743 branches which have not been
subjected to audit. These unaudited branches account for 4.63 per cent of advances, 1182
per cent of deposits, 5.63 per cent of interest income and 10.58 per cent of interest
expenses.
Manatement's Responsibility for the Financial Statements
2. Management is responsible for the preparation of these financial statements in accordance
with the Banking Regulation Act 1949, Reserve Bank of lndia Suidelines from time to time
and accounting standards generally accepted in lndia This responsibility includes the design,
implementation and maintenance of internal control relevant to the preparatlon of the
financial statements that are free from material misstatement, whether due to fraud or
error.
Auditor's Responsibility
to express an opinion on these financial statements based on our audit
We conducted our audit in accordance with the Standards on AuditinB issued by the lnstitute
of Chartered Accountants of lndia. Those standards require that we comply with ethical
requirements and plan and perform the audit to obtain reasonable assurance about whether
the financial statements are free from material misstatements.
4. An audit involves performing procedures to obtain audit evidence about the amounts and
disclosures in the financial statements. The procedures selected depend on the audito/s
judgment, including the assessment of the risks of material misstatement of the financial
statements, whether due to fraud or error. ln making those risk assessments, the auditor
considers internal control relevant to the entity's preparation and fair presentation of the
3. Our responsibility
is
q"
t\
M
Wahi & Gupta
Khandelwal Jain &
Co.
Accountants
Chartered
Chartered Accountants
SRGoyal&Co
Rodi Dabir & co
Chartered Accountants
Chartered Accountants
financial statements in order to desiSn audit procedures that are appropriate in the
circumstances, but not for the purpose of expressing an opinion on effectiveness of the
entity's internal control. An audit also includes evaluating the appropriateness of accounting
policies used and the reasonableness of the accounting estimates made by management, as
well as evaluatinB the overall presentation of the financial statements.
5. We believe that the audit evidence we have obtained
a basis for our audit opinion.
6.
is sufficient and appropriate
to provide
opinion
ln our opinion, as shown by books of bank and to the best of our information and according to
the explanations Biven to us:-
The Balance sheet, read with the notes thereon is a full and fair Balance Sheet
containing allthe necessary particulars, is properly drawn up so as to exhibit a true and
fair view of state of affairs of the Bank as on 313r March, 2015 in conformity with
accounting principles generally accepted in lndia;
ii.
The Profit and Loss Account, read with the notes thereon shows a true balance of loss,
in conformity with accounting principles generally accepted in lndia, for the year
covered by the account; and
iii.
The Cash Flow Statement gives a true and fair view
on that date.
ofthe
cash flows for the year ended
Report on Other LeSal and Regulatory Requirements
7. The Balance Sheet and the Statement of Profit and Loss Account have been drawn up in
Forms "A" and "8" respectively ofthe Third Schedule to the Banking Regulation Act, 1949.
8. Subject to the limitations of the audit indicated in paragraph 1 to 5 above and as requlred by
the Banking Companies {Acquisition and Transfer of Undertakings) Act, 1970 / 1980 and
subject also to the limitations of disclosure required therein, we report that;
a. We have obtained all the information and explanations which to the best of our
knowledge and beliet were necessary for the purposes of our audit and have found
them to be satisfactory;
b. The transactions of the Banlg which have come to our notice have been within the
powers of the Bank;
c. The returns received from the offices and branches of the Bank have been found
adequate for the purposes ofour audit;
l..
I{fiandelwal lain & Co.
wahi & Gupta
Chartered Accountants
Chartered Accountants
Rodi Dabir & Co
Chartered Accountants
SRGoyal&Co
Chartered Accountants
9.
We further report that:
a. The Balance Sheet and Profit and Loss account dealt with by this report are in
atreement with the books of account and returns;
b. The reports on the accounts ofthe branch offices audited by branch auditors ofthe
Bank under section 29 of the Banking Regulation Act, 1949 have been sent to us and
have been properly dealt with by us in preparing this report;
c. ln our opinion, the Balance Sheet, Profit and Loss Account and Cash Flow Statement
comply with the applicable accounting standards.
For KhandelwalJain & Co
Chartered Accountants
FRN : 105049W
q
*>,.1
Chartered Accountants
FRN: 002253N
\
-\ ,/
o
,./
\-,,'
Gupta
Shailesh s shah
Partner
M.No:033632
For S R Goyal &Co
Chartered Accountants
FRN:001537C
For Wahi & Gupta
x
Anuj
Partner
M.No:076550
For Rodi Dabir & Co
Chartered Accountants
FRN:108846W
"f",
,ln\
N
Ajay Kumar A\olla\
Partner
M.No:0772O1
Date: 13rh May 2016
Place: Mumbai
M.No:039984
r'
dlit; +frw
*t,lt:t
Elartk ot Etaroda
FORMA
LET.TER OF, ANNUAL
AI'DIT REPORT TO BE T'ILED U'ITH
EXCIIANGES (STANDALONE)
.
Name of the Comparry
Bank of Batoda
.
Annual Financial Statements lor
31d March 2016
STOCK
the year ended
.
Type ofAudit Observation
.
Frequency of observaton
.
Comments of the Management on
the matter of emphasis
Genera-l Manager
(Corporate Accounts
& Taxauon) ard CFO
For Khandelwal Jain & Co
Chaitered Accountants
FRN : 1O5O49W
Un-modiffed
Nit
Chairman
Audit Committee of Board
Managing Director & CEO
For Wahl & Gupta
Chartered Accountants
FRN: 002263N
. t\_^.- ,^-'
ll,i--{-U
I
sharle€#ar
'
s shah
Partner
M.No: 033632
For S R Goyal
Chartered Accorrntant-s
Y. K. Gupta
Partrer
M.No: O16020
For Rodl Debir & Co
JffiH
Partner
M.No:039984
M.No:077201
Place: Mumbai
Date: 13d May 2016
Corpomre Accounrs & Tdarion Depannent, 2d Fl@r, Bdoda Corporute Cenrre.
C 26, G Block, Bandm Kurla Complex, Mumbai - 400 05 I
Tel : 66985257(GM)- 66985276(AGM) 66985280(CM)
email id: accounls.ho @ bankofbaroda.com
Khandelwal Jain & Co.
Wahi & Gupta
Chartered Accountents
Chartered Accountants
SRGoyal&Co
Rodi Dabir & co
Chartered Accountants
Chartered Accountants
AUDITORY REPORT ON CONSOLIDATED FINANCIAL STATEMENTS OF BANK OF BARODA
To
The Board of Diredors,
Bank of Baroda
We have audited the attached Consolidated Balance sheet of Bank of Baroda {the "Group")
as at March 31, 2016, the Consolidated Statement of Profit and Loss for the yea. ended on
that date and the Consolidated Cash Flow Statement for the year ended on that date,
annexed thereto, in which are incorporated:
Audited Accounts of the Bank of Baroda (The Bank), audited by us, vide our audit
report dated May 13,2016;
ii) Audited Accounts of 12 Subsidiaries, 3 Associates and 3 Joint Ventures, audited by
other Auditors;
iii) unaudited accounts of3 associates.
i)
Management's Responsibilityforthe Financial Statements
The Consolidated Financial Statements are the responsibility ofthe Bank's management and
have been prepared by the management on the basis of separate financial statements and
other financial information regarding subsidiaries, associates & joint ventures. Our
responsibility is to express our opinion on these consolidated Financial Statements based
on our audit.
These Consolidated Financial Statements have been prepared by the Bank in accordance
with the requirements of AS 21 (Consolidated Financial Statements), AS 23 (Accounting for
lnvestment in Associates in Consolidated Financial Statements) and AS 27 (Financial
Reporting oJ lnterest in Joint Ventures) issued by the lCAl and the guidelines issued by the
Reserve Bank of lndia.
Auditor's Responsibility
3
We conducted our audit of the Consolidated Financial Statements in accordance with the
Auditing Standards generally accepted in lndia. These standards require that we plan and
perform the audit to obtain reasonable assurance whether the Financial Statements are
prepared, in all material respects, in accordance with an identified financial reporting
framework and are free of material misstatements. An audit includes, examining on a test
basis, evidence supporting the amounts and disclosures in the financial statements. An audit
also includes assessing the accounting principles used and si8nificant estimates made by the
!u-'-
Khandelwal Jain & Co.
Chartered Accountants
sRGoyal&Co
Chartered Accou ntants
Wahi & Gupta
Chartered Accountants
Rodi Dabir & Co
Chartered Accountants
management as well as evaluating the overall financial statement presentation We believe
that our audit provides a reasonable basis for our opinion.
4
lncorporated in the Consolidated Financial Statements are:
a)
Financial statements of 9 overseas subsidiaries and 1 overseas Joint Venture which have
not been audited by us, whose financial statements reflect total assets of 10566 88
1066.01 crores and cash flows
crores as at 31't March, 2016 and total revenue of
amounting to {. 259.54 crores for the year then ended. Out of which, 4 (four) overseas
subsidiaries and 1 (One) Joint Venture whose accounts has been drawn upto 31si Dec'
2015 and included in the consolidated financial statements, the management has
l.
{
certified that no significant changes have taken place during the period from 01st
.January 2015 to March 2016. The financial statements and other financial information of
said subsidiaries have been audited by other auditors as per the requirement of
respective local Generally Accepted Accounting Principles (GAAP) These financial
statements have been converted as per the requirements of lndian GMP by the
management and audited by them and our opinion, in so far it relates to the amounts
included in respect of those subsidiaries is based solely on the reports of those auditors
and its conversion into lndian GAAP as stated above.
b)
Figures of 3 domestic subsidiaries and 2 domestic joint ventures which have been
11361 02
audited by other auditors, whose financial statements reflect total assets of
flows
and
cash
1836.23 crores
crores as at March 31, 2016 and total revenue of
amounting to {. (242.59) crores for the year then ended. The consolidated financial
statements also include the Sroup's share of net profit of <. (37.49) crores for the year
ended 31st March 2016 as considered in the consolidated financial statements in respect
of 3 associates, whose financial statement have been audited by other auditors whose
report have been fl.lrnished to us by the Management and our opinion on the
consolidated financial statements, in so far as it relates to the amounts and disclosures
included in respect of these domestic subsidiaries, joint ventures and associates, is
based solelyon the reports ofthe other auditors
i.
c)
{
{
The consolidated financial statements also include the group's share of net profit of
57.59 crores for the year ended 31't March 2016 as considered in the consolidated
financial statements in respect of 3 associates, whose financial statement have not been
audited by us. These financial statement are unaudited and have been furnished to us
by the management and our opinion on the consolidated financial statements in so far
as it relates to the amounts and disclosures included in respect of these associates, is
based solely on such unaudited financial statements. In our opinion and according to the
information and explanation given to us by the management, these financial statements
are not material to the GrouP.
L-, - -,. .-..--r
Khandelwal Jain &
Wahi & Gupta
Co.
Chartered Accountants
5
Chartered Accountants
SRGoyal&Co
Rodi Dabir & Co
Chartered Accountants
Chartered A..ountants
opinion
Based on our audit, consideration of reports of other auditors on separate financial
statements, consideration of unaudited financial statements and on the other financial
information of the components, and to the best of our information and according to the
explanations given to us read with paragraphs 3 and 4 above, we are of the opinion that
the attached consolidated financial statements give a true and fair view in conformity with
the accounting principles generally accepted in lndia, subject to our observation in Para No.
5 above :
(i)
ln the case ofthe Consolidated Balance Sheet, ofthe state of affairs ofthe Bank, its
Subsidiaries and interests in its Associates/ Joint ventures (Group) as on 31't March
20t6;
(ii)
(iii)
ln the case of the Consolidated Statement of Profit & Loss, of the consolidated Loss of
the "Group" for the year ended on that date, and
ln the case of Consolidated Cash Flow Statement, of the cash flows of the "Group" for
the year ended on that date,
For KhandelwalJain & Co
Chartered Accountants
FRN : 1O5O49W
Shailesh
Partner
S
Shah
\
w
For Wahi & Gupta
Chartered Accountants
FRN:002263
AnujGupta
Partner
M.No:033632
ForSRGoyal &Co
M.No:076560
Chartered Accountants
Chartered Accountants
FRN:108846W
OO1537C
I
f -^ h-/\
'tr""l ""
FRN:
For Rodi Dabir & Co
w
,
tl ,/'
Anurag 6oval
Partner
M.No:412538 r---
Date: 13th May 2016
Plqce
-
M
"mbnj
-"
-,.
Ill,"t1
sudhir Dabir
Partner
M.No:039984
@
dirr,*ir 6d*r
Elank c$Saroda
rORMA
LETTER OT ANNUAL AI'DIT RTPORT TO BE FILED WITH STOCK
EXCIIANGES (CONSOLIDATED)
.
B.nk of Baroda
Name of the Company
. Amual Financla-l
Statements for
3r{
March 2016
the year: ended
. f}?e of Audit Observatron
.
Frequency of obsewation
.
Comments of the Mana€iement on
the rnatter of emphasis
Un-modiffed
Nil
[,i I*V. S. Narang
General Manager
(Corporate Accounts
& Taxauon) and CFO
P. S. Jayakumar
Chairrnan
Audlt Committee of Board
Managing Director & CEO
For Khandelwal Jallr & Co
Chartered Accountants
FRN : 1O5O49W
For wahl & Gupta
Chartered Accountants
FRN: OO2263N
9"ry
Shatlcsli(uiar s sheh
1,,^-:.,-.
t-.Y. K. Gupta
Partner
M.No:016020
For Rodl Dablr & Co
Chartered Accountants
FRN: lO8846W
Partner
M.No: 033632
For S R Goyal
Chartered Accountants
FRN: OO1537C
I
t"-
[\\ \f,
\,\a
Kuma\
ljar
Partner
"J*)'9#"
Partner
M-No:039984
M.No:077201
Place: Mumbal
Date: 13s May 2016
Corporare Accounts & Tdation Departnent, 2d Floor. Baroda Corpomte Cenlre,
C 26, C-Block, Bandm Kurla Complex, Mumbai-400051
Tel : 6698525?(GM)- 66985276(AGM)' 66985280(CM)
email id : ecounts ho@barkoibdoda.com