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L65191PN 1994PLCO763:

lnduslnd Bank

April 21,2016
The Deputy General Manager
CorDorate Relationship Dept,
BSE Ltd.
l'r Floor. New Trading Ring
Rotunda Building, P J Towers
Dalal Street, Fon
Mumbai - 400 001
BSE Scrip Code: 532187

Auditor's Report - For Financial Year ended March 31. 2016

Dear Sir,

to Regulation 3l(l) of SEBI (Listing Obligations and Disclosure Requirements)

Regulations. 2015, we fbrward herewith the "Auditor's Report" issued by the Bank's
Pursuant

Auditors, ir4./s. Price Waterhouse Chanered Accountants LLP, along with Form A ({br Audit
Repon with unmodified opinion) in respect ofthe Audited Financial Results ofthe Bank for
the Quater and Financial Year ended March 31. 2016
We request you to take the same on record

Yours faithfully.
For lndusl d Bank Limited

Hrresh K- Caj
Compal|y Secret

Encl r a/a

hdushd

Bank Limited, 701-301 Sollbne corporate Pad,167,Gur! Hargovindj Malg,Andhei

Mumbai - 400 093. Mahararhrra, hdia Tel: (022) 6641 2200 Faxt lO22) 6641D24

R.gisterd Ofil.e 2401 6en Thimmayya Road,

Tel.: (020) 263a 3201

ClNr

Fa* (020) 2634 3241

L65l9l PNI 994P1C076333

Visar ur

Pune4

OOt,

tndia

.i www.ind6lnd_@m

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Price Waterhouse Chartered Accountants LLP

Thc

Doa

of l)iredors

Indusind ltank l-imited,

24or, Gen lhinmnfJ"a Road,
(Cantonment), Pune

4uool.

IndcpeDdent Auditop's Report on the Statement offinancial rcsults

1

W have uudikid the accompanying Statemcnt containing the annual audited finnncial rcsults of
Induslnd Bank Lirnited (the Bank") for thc year ended March 31, 2()16 togcther with thc notes
ihereon (hcreinafter reiercd to rs thc Statemcnt"), which we have signed undr referencc to this
rcpod, e,\cept for the disclosures rcgarding 'percentage of sharcs hcld by Government of India',
\\'hich have been traced from disclosures madc by the Bank's Managment andthe 'Pillar 3 under
Baset III Capital Regrlations" as ha\ been disclosed on the Bank's vebsite and in respcct of$hich
a link hrs been provided iD note 5 to the Staternent, both ofwhich have nelther bcen rc\,iened nor
been audited by us.

Management's Responsibility for dre fi nancial results

Management is responsible lbr the prcprration ofthe accompanying Statement. The Management
is also responsible lbr the preparation ofthe ,rnnual strtlrtory financial statements in accordance
with the stat lory rcquircments prescribed under the Banking Rgulation Act, 1949, circrlars and
guidelincs issrLed by Resef"e Bank of India from time to time and the Accouniing standards
spcificd under Section r33 of the Companies Act, 2013 read with Rule 7 of the ComFnic$
(Accounts) Rules, 2oq (together refi: ed io as the 'accounting principles generally acccpted in
India"), bnsis which the nbove Statement containing the annual audited financial results has bccn
prepared. The responsibility includcs the dcsign, implementation and maintenancc of internal
control rclevant to the prcparation of the Statement that is free from material missratcment,
lvhether dre to fralld or error.

AnditoN' Responsibility
3.

4.

Our rcsponsibitity is to cxpress anopinion on the Statement based on o audit. We conducted our
audit in Accordance with the Stanclards on Auditint specificd under Section r43(ro) of the
Companies Act, 2013 ('theAcf') and other applicable authoritative prcnounccments issued by the
lnstitute olChartered Accountants oflndia. Those Standards rcquire rhat we coftply with ethical
rcqrircments and plan and peform the audit to obtain reasonable $surance about whether the
iinancial statcments are free from material misstatement.

An audit invoh es performing procedures io obtain a dit evidence lbout thc amounts and
disclosures in th Statement. Thc procedurcs selcctd dependon the auditors'iudgmen t, inchding

the assessment of the risks of matetial misstatement of the Staiement, whether due to fraud or
elror. In making those risk assessments. thc auditors consider internal control relcvant to the
cntjtys prcpa&rtion and fair presentatjoD ofthe Statement in order to design audit proccdures rhat
are apprcpriatc in the circumstances. Ar audit also includs evaluating ihc appropdatencss of
accou nting pol icics used and the reasonablencss of accounti ng stimates made by M:rnagement, as

lvell
5.

as

evalurting the overallprcsentatjon o{the Statenrent.

We belie\ e that the audii e\idence we hale obtained is sufiicient and:rppropriate to pro\ide a basis
lbr oLr aLrdit opinion-

Price lvoterhovse Chortereil A(@urtants LI.P, 252, Veet Sal|@rknr Morg, Shirraji ?atk, Dadot (t[est)
T: +9r (22) 6669rsoo. F: +91 (22) 66sj78o4

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Opinion
opinion and to th best ofour information and acco ing to the explanations given to ils:
(i) the Strtement, togcther $ith the notes theleon are presented in the ibrmat prescribed under
tl.eSulation 33 ofihc SEtsl (Listing Obligalions and Disclosure Requirements) Regulaiions,2()rs in
1n our

lhis regard; aDd

(ii) the Annual audited fin.rncinl results for the year cnded March 31,2016 as set out in the
Statcment gi\cs a true !rnd fnir YicN of the net profit and other financjal inlbmation for tbe )ear
eDded Mrrch 3r, 2()16 in accord nc with ihe rccounting principles generally accepted in India.

7.

8.

Emphasis of Matter
We drax' your attention to Note 2 of the Statcment regarding the figures for the quaner eoded
Marcb 3r, 2016, which are thc balancing figLLres between audited figures in respct of ihe full
linancial year,lnd the published year-to date figurcs upto thc third quarter of the c[rrent financial
)'car- Ouropinion is not qualified in respect of this matter-

Other Matter
The Statement de.rlt wjth by tbis rpoft has becn preparcd forrhe express purpose offiling with rhe
Stock tixchnngcs. This Statement is brsed on the auditcd financial statements ofthe Bank for the
],car ended March 31,2016 oD which we issucd an rulmodified a dii opinionvide our rcporl darcd

April2r,2016.

g.

fhc financial si,rtemnts:lnd financial ltesults ofthe Bank lor the previous year and quarter ended
March 31,2or6 r'cre ardited bv anoihcr firm ofchaftercd accountants rvho vide their reports drted
April 16, 2o1S hav issued rn unmodjfied opinion on the financial statements and the financial
rcsults respectivel).

lo.

Rcshiction on Usc
l
o

his lcpoft is addrcssed to the Board oI Dircctors ofthe Company and has been prepaled for and
nly lor thc purposes set out in pa ragrr ph 8 above. Ihis report should not be othcnvise used by a ny

other p:rrtt for ant other pllrpose.

-'H;
l.or Pice

Waterhouse Cha(cred Accountants LLP

l.irm Registraiion No. o12754N / Nsooo16

Rrssell I

l'lrccr NlllnbIli
I)ale: April2r, 20l6

lvlembership No. o42r9o

lnduslndBank
Annexure
FORM A (for audit

reportwith unmodified opinion) along-with Financial

Name of the ComPanV

lnduslnd Bank Limited

Annual Financial Statements for the year

ended

March 31,2016

Type of Audit observation

Unmodifred

Frequency of observation

Not applicable

Romesh Sobti

s. V. zaregaoniar
Chief Financial officel

Cdl."'c"--,t ^-'--'-'i'/-

Managing Director & CEO

--r

T. Anantha Narayanan

Chairman of the Audit Committee

b^^A
f-\
./
Price Waterhouse Chartered Accountants LLP

Statutory Auditors of the Bank

Results