Director's Report
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.
Principal Activity
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.
International Financial Reporting Standard (IFRS)
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).
Accordingly, the Company has classified its investments as follows:
| Investment | Classification |
|---|---|
|
Indusind Limited (IL)
|
FVTOCI |
|
Indusind Media & Communication Limited (IMCL)
|
FVTOCI |
|
Indusind Bank Limited (IBL)
|
FVTOCI |
|
Hinduja Leyland Finance Limited (HLFL)
|
FVTPL |