"To create long-term shareholder value"
“To be a Global Financial Services Institution with commitment to excellence in International orientation, innovation, speed and strict compliance with the principles of good corporate governance"
The Directors are pleased to present their twenty-fifth Silver Jubilee report on the business of IndusInd International Holdings Ltd. (the “Company”) along with the consolidated and separate financial statements of the Company and its subsidiaries,IndusInd Ltd, IndusInd Capital Ltd, IndusInd Finance Ltd and IndusInd Ventures Ltd (together “the Group”) for the year ended March 31, 2019.
The principal activity of the Company and its subsidiaries is that of holding investments. The Company also constantly looks for opportunities to invest in operating businesses in financial services.
Your Company has followed the new accounting standard IFRS 9 for the year 2018-19 in reporting its financials as required. The new standard is based on the concept that financial assets should be classified and measured at fair value, with changes in the Fair Value recognized in Profit & Loss as they arise (FVPL), unless restrictive criteria are met for classifying and measuring the assets at either amortized cost or Fair Value through Other Comprehensive Income (FVOCI).
Banking and trade came naturally to the descendants of the Indus Valley Civilization and setting-up a bank in India was only a logical extension of their capabilities. Mr. S.P. Hinduja and other Sindhi Leaders threw open the opportunity of setting-up a commercial bank in India to all NRIs across the globe.
The Indian authorities open-heartedly provided IIHL with all support and clearances to enable it to commission IndusInd Bank in a record period of 67 days in April 1994 on the Chetti Chand (Sindhu Civilization New Year as per Lunar Calendar) day.
IndusInd Foundation is a charitable organization established in the year 1995 with the efforts and good wishes of Shree S. P. Hinduja. The foundation was established with the main objective of supporting the education of the underprivileged children and supporting them in all kind of needs.
Company’s own organizational set-up in Mauritius to successfully steer the Company in its journey to realise its growth potential with the appointment of Mr. Mayank Malik as President of the Company to be stationed in Mauritius for the purpose.
Opening of IndusInd International Holdings Limited independent office at the Beau Plan Business Park, Pamplemousses, Mauritius.
Our flagship investee company IndusInd Bank Ltd acquired the No. 1 micro-finance company, Bharat Financial Inclusion Ltd.