Aye finance Limited - Addendum to DRHP

THIS IS A PUBLIC ANNOUNCEMENT FOR INFORMATION PURPOSES ONLY. THIS IS NOT A PROSPECTUS ANNOUNCEMENT AND DOES NOT CONSTITUTE AN INVITATION OR OFFER TO ACQUIRE, PURCHASE OR SUBSCRIBE TO SECURITIES. NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY OUTSIDE INDIA. (Please scan this QR Code to view this Addendum) AYE FINANCE LIMITED Our Company was incorporated on August 12, 1993, as a private limited company under the Companies Act 1956, under t he name ‘Doda Finance Private Limited’, at Jalandhar, Punjab pursuant to a certificate of incorporation issued by the Registrar of Companies, Punjab, Himachal Pradesh and Chandigarh. The name of our Company was changed to ‘Aye Finance Private Limited’ pursuant to resolutions dated February 17, 2014 and March 15, 2014, passed by our Board and our Shareholders respectively, and a fresh certificate of incorporation dated March 28, 2014, was issued to our Company by the Registrar of Companies, Punjab and Chandigarh consequent to the change of name. Subsequent to a change in our registered office from the state of Punjab to the National Capital Territory of Delhi pursuant to resolutions dated July 22, 2014 and August 18, 2014 passed by our Board and our Shareholders, respectively, and a fresh certificate of registration dated August 10, 2015, was issued by the Registrar of Companies, Delhi and Haryana at New Delhi (“RoC”). Upon the conversion of our Company to a public limited company, pursuant to resolutions dated October 16, 2024 and October 17, 2024 passed by our Board and our Shareholders respectively, the name of our Company was changed to “Aye Finance Limited”. A fresh certificate of incorporation dated December 10, 2024 was issued by the RoC consequent to our Company’s conversion into a public limited company. For details of changes in registered office of our Company, see “History and Certain Corporate Matters- Changes in our Registered Office” on page 253 of the draft red herring prospectus (as defined below). Prior to the change of the name of our Company from Doda Finance Private Limited to Aye Finance Private Limited, the Reserve Bank of India (“RBI”) had granted a certificate of registration dated December 15, 2000 bearing no. B-06.00369 for registration as a non-banking financial company (“NBFC”) under Section 45-IA of the Reserve Bank of India Act, 1934 (“RBI Act”). Subsequently, the RBI granted a certificate of registration dated November 27, 2015, bearing no. B- 14.03323 to our Company, for registration as an NBFC under Section 45-IA of the RBI Act. Corporate Identity Number: U65921DL1993PLC283660 Registered Office: M-5, Magnum House-1, Community Centre Karampura, West Delhi, New Delhi - 110 015, India; Tel: +91 124 484 4000 Corporate Office: Unit No. 701-711, 7th floor, Unitech Commercial Tower-2, Sector-45, Arya Samaj Road, Gurgaon 122 003, Haryana, India; Tel: +91 124 484 4000 Contact Person: Vipul Sharma, Company Secretary and Compliance Officer; E-mail: secretarial@ayefin.com; Website:https://www.ayefin.com/ NOTICE TO INVESTORS: ADDENDUM TO THE DRAFT RED HERRING PROSPECTUS DATED DECEMBER 16, 2024 (THE “ADDENDUM” AND SUCH DRAFT RED HERRING PROSPECTUS, THE “DRAFT RED HERRING PROSPECTUS” OR THE “DRHP”) INITIAL PUBLIC OFFERING OF UP TO [●] EQUITY SHARES OF FACE VALUE OF ₹2 EACH (THE “EQUITY SHARES”) OF AYE FINANCE LIMITED (“COMPANY” OR “ISSUER”) FOR CASH AT A PRICE OF ₹[●] PER EQUITY SHARE (THE “OFFER PRICE”) AGGREGATING TO ₹14,500.00 MILLION (THE “OFFER”) COMPRISING A FRESH ISSUE OF [●] EQUITY SHARES AGGREGATING UP TO ₹8,850.00 MILLION (THE “FRESH ISSUE”) AND AN OFFER FOR SALE OF UP TO [●] EQUITY SHARES AGGREGATING TO ₹5,650.00 MILLION (THE “OFFER FOR SALE”), COMPRISING AN OFFER FOR SALE OF UP TO [●] EQUITY SHARES AGGREGATING TO ₹5,428.36 MILLION BY CORPORATE SELLING SHAREHOLDERS (AS DEFINED HEREINAFTER) AND UP TO [●] EQUITY SHARES AGGREGATING TO ₹221.64 MILLION BY INDIVIDUAL SELLING SHAREHOLDERS (AS DEFINED HEREINAFTER) (TOGETHER, THE “SELLING SHAREHOLDERS”, AND SUCH EQUITY SHARES, THE “OFFERED SHARES”). OUR COMPANY IN CONSULTATION WITH THE BRLMS, MAY CONSIDER A FURTHER ISSUE OF SPECIFIED SECURITIES TO CERTAIN INVESTORS FOR AN AMOUNT AGGREGATING UP TO ₹ 1,770.00 MILLION, AS PERMITTED UNDER APPLICABLE LAWS ON OR PRIOR TO THE DATE OF FILING OF THE RED HERRING PROSPECTUS WITH THE ROC (“PRE-IPO PLACEMENT”). THE PRE-IPO PLACEMENT, IF UNDERTAKEN, WILL BE AT A PRICE TO BE DECIDED BY OUR COMPANY IN CONSULTATION WITH THE BRLMS. IF THE PRE-IPO PLACEMENT IS COMPLETED, THE AMOUNT RAISED PURSUANT TO THE PRE-IPO PLACEMENT WILL BE REDUCED FROM THE FRESH ISSUE, SUBJECT TO COMPLIANCE WITH RULE 19(2)(B) OF THE SCRR. THE PRE-IPO PLACEMENT, IF UNDERTAKEN, SHALL NOT EXCEED 20% OF THE SIZE OF THE FRESH ISSUE. PRIOR TO THE COMPLETION OF THE OFFER, OUR COMPANY SHALL APPROPRIATELY INTIMATE THE SUBSCRIBERS TO THE PRE-IPO PLACEMENT, PRIOR TO ALLOTMENT PURSUANT TO THE PRE-IPO PLACEMENT, THAT THERE IS NO GUARANTEE THAT OUR COMPANY MAY PROCEED WITH THE OFFER OR THE OFFER MAY BE SUCCESSFUL AND WILL RESULT INTO LISTING OF THE EQUITY SHARES ON THE STOCK EXCHANGES. FURTHER, RELEVANT DISCLOSURES IN RELATION TO SUCH INTIMATION TO THE SUBSCRIBERS TO THE PRE-IPO PLACEMENT (IF UNDERTAKEN) SHALL BE APPROPRIATELY MADE IN THE RELEVANT SECTIONS OF THE RED HERRING PROSPECTUS AND PROSPECTUS. Potential Bidders may note the following: a. The Draft Red Herring Prospectus contained the Restated Financial Statements as at and for the six months ended September 30, 2024 and September 30, 2023 and the financial years ended March 31, 2024, March 31, 2023 and March 31, 2022. The sections titled “Restated Financial Statements” and “Selected Statistical Information” on pages 284 and 430, respectively of the DRHP have been updated to provide recent restated financial information of our Company, as at and for the three months ended June 30, 2025 and June 30, 2024 and the financial years ended March 31, 2025, March 31, 2024 and March 31, 2023 and the summary of material accounting policies and explanatory notes, prepared in accordance with Section 26 of Part I of Chapter III of the Companies Act, 2013, the SEBI ICDR Regulations, and the Guidance Note on Reports in Company Prospectuses (Revised 2019) issued by the ICAI, through this Addendum. All details in the sections titled, “Restated Financial Statements” and “Selected Statistical Information” from this Addendum will be disclosed appropriately in the Red Herring Prospectus and the Prospectus, as and when filed with the RoC, the SEBI and the Stock Exchanges. b. The section titled “Basis for Offer Price” on page 113 of the DRHP has been updated to include details of updated relevant portions for Restated Financial Statements as at and for the three months ended June 30, 2025 and June 30, 2024 and the financial years ended March 31, 2025, March 31, 2024 and March 31, 2023 and the Key Performance Indicators that our Company considers have a bearing for arriving at the basis for Offer Price. c. From the date of the DRHP and as on the date of this Addendum, there are no new material outstanding litigation involving our Company, Subsidiary, Directors, KMPs and SMPs in accordance with the requirements under the SEBI ICDR Regulations and the Materiality Policy. In order to assist the Bidders to get an understanding of the updated information, the updated relevant portions of the section titled “Basis for Offer Price” on page 113 of the DRHP, has been included in this Addendum. The above changes are to be read in conjunction with the DRHP and accordingly their references in the DRHP stand updated pursuant to this Addendum. The information in this Addendum supplements the DRHP and updates the information in the DRHP, as applicable. However, this Addendum does not reflect all changes that have occurred between the date of filing the DRHP and the date hereof, including to the extent stated in this Addendum, along with other factual updates, as may be applicable, and accordingly does not include all the changes and/ or updates that will be included in the Red Herring Prospectus and the Prospectus, as and when filed with the RoC, SEBI and the Stock Exchanges. Investors should not rely on the Draft Red Herring Prospectus or this Addendum for any investment decision and should read the Red Herring Prospectus as and when filed with the RoC, the SEBI and the Stock Exchanges before making an investment decision in the Offer. The Equity Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended or any other applicable law of the United States and, unless so registered, may not be offered or sold within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable state securities laws. Accordingly, the Equity Shares are being offered and sold (a) in the United States only to persons reasonably believed to be “qualified institutional buyers” (as defined in Rule 144A under the U.S. Securities Act) pursuant to the private placement exemption set out in Section 4(a) of the U.S. Securities Act and (b) outside the United States in reliance on Regulation S and the applicable laws of the jurisdiction where those offers and sales occur. This Addendum shall be available to the public for comments, if any, for a period of at least 21 days, from the date of such filing with SEBI and will be available on the website of SEBI at www.sebi.gov.in, the website of Stock Exchanges at www.nseindia.com and www.bseindia.com, the website of our Company at https://www.ayefin.com/drhp/ and the websites of the Book Running Lead Managers at www.axiscapital.co.in; www.iiflcap.com; www.jmfl.com and www.nuvama.com. All capitalised terms used in this Addendum shall, unless specifically defines or unless the context otherwise requires, have the meaning ascribed to them in the DRHP. For Aye Finance Limited (formerly known as Aye Finance Private Limited) On behalf of the Board of Directors Sd/- Vipul Sharma Company Secretary and Compliance Officer Place: Delhi, India Date: September 11, 2025 BOOK RUNNING LEAD MANAGERS REGISTRAR TO THE OFFER Axis Capital Limited IIFL Capital Services Limited JM Financial Limited Nuvama Wealth Management KFin Technologies Limited 1st Floor, Axis House, (formerly known as IIFL Securities 7th Floor, Cnergy, Limited Selenium, Tower-B, P.B. Marg, Worli, Prabhadevi, Limited) Appasaheb Marathe Marg 801-804, Wing A, Building No 3 Plot No. 31 and 32, Mumbai 400 025, 24th Floor, One Lodha Place, Prabhadevi, Inspire BKC, G Block, Financial District Maharashtra, India Senapati Bapat Marg, Mumbai 400 025, Bandra Kurla Complex, Bandra East, Nanakramguda, Serilingampally, Tel: +91 22 4325 2183 Lower Parel (West), Maharashtra, India Mumbai 400 051, Hyderabad 500 032, E-mail: ayefinance.ipo@axiscap.in Mumbai 400 013, Tel: +91 22 6630 3030 Maharashtra, India Telangana, India Website: www.axiscapital.co.in Maharashtra, India E-mail: ayefinance.ipo@jmfl.com Tel: + 91 22 4009 4400 Tel: +91 40 6716 2222 Investor grievance e-mail: Tel: +91 22 4646 4728 Website: www.jmfl.com E-mail: ayefinance@nuvama.com E-mail: ayefinance.ipo@kfintech.com complaints@axiscap.in E-mail: ayefinance.ipo@iiflcap.com Investor grievance e-mail: Website:www.nuvama.com Investor grievance e-mail: Contact person: Jigar Jain Website: www.iiflcap.com grievance.ibd@jmfl.com Investor grievance e-mail: einward.ris@kfintech.com SEBI registration no.: INM000012029 Investor grievance e-mail: Contact person: Prachee Dhuri customerservice.mb@nuvama.com Contact Person: M Murali Krishna ig.ib@iiflcap.com SEBI registration no.: INM000010361 Contact person: Lokesh Shah SEBI registration no.: INR000000221 Contact person: Dhruv Bhavsar/ Pawan SEBI registration no.: INM000013004 Kumar Jain SEBI registration no.: INM000010940 BID/OFFERPROGRAMME ANCHOR INVESTOR BID/ OFFER DATE [●]* BID/ OFFER OPENS ON [●] BID/ OFFER CLOSES ON [●]**# * Our Company, in consultation with the BRLMs, may consider participation by Anchor Investors in accordance with the SEBI ICDR Regulations. The Anchor Investors shall Bid during the Anchor Investor Bidding Date, i.e., one Working Day prior to the Bid/Offer Opening Date. **Our Company and the Selling Shareholders, in consultation with the BRLMs, may consider closing the Bid/ Offer Period for QIBs one day prior to the Bid/Offer Closing Date, in accordance with the SEBI ICDR Regulations. # UPI mandate end time and date shall be at 5:00 pm on the Bid/Offer Closing Date.TABLE OF CONTENTS RESTATED FINANCIAL STATEMENTS ....................................................................................................... 1 SELECTED STATISTICAL INFORMATION ............................................................................................... 97 BASIS FOR OFFER PRICE ........................................................................................................................... 119 DECLARATION .............................................................................................................................................. 136RESTATED FINANCIAL STATEMENTS [The remainder of this page has been intentionally left blank] 1INDEPENDENT AUDITOR’S EXAMINATION REPORT ON RESTATED FINANCIAL INFORMATION To, The Board of Directors Aye Finance Limited (Formerly Known as Aye Finance Private Limited) Unit No. - 701-711, 7th Floor, Unitech Commercial Tower-2, Sector-45, Arya Samaj Road, Gurugram – 122003, India Dear Sirs, 1) We, S S Kothari Mehta & Co. LLP, Chartered Accountants, have examined, the Restated Financial Information of Aye Finance Limited (Formerly Known as Aye Finance Private Limited) (the “Company” or the “Issuer”) comprising the Restated Statement of Assets and Liabilities as at June 30, 2025, June 30, 2024, March 31, 2025, March 31, 2024 and March 31, 2023, the Restated Statement of Profit and Loss (including Other Comprehensive Income), the Restated Statement of Changes in Equity, the Restated Statement of Cash Flows for the three months ended June 30, 2025 and June 30, 2024 and for the year ended March 31, 2025, March 31, 2024 and March 31, 2023, the summary statement of material accounting policies, other explanatory information, Annexures (collectively, the “Restated Financial Information”), as approved by the Board of Directors of the Company (the “Board of Directors”) at their meeting held on September 11, 2025 for the purpose of inclusion in the addendum to the Draft Red Herring Prospectus (“DRHP”) (the “Addendum”), prepared by the Company in connection with its proposed Initial Public Offer of equity shares (“IPO”) prepared in terms of the requirements of: a) Section 26 of Part I of Chapter III of the Companies Act, 2013 ("the Act"); b) The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended ("SEBI ICDR Regulations"); and c) The Guidance Note on Reports in Company Prospectuses (Revised 2019) issued by the Institute of Chartered Accountants of India (“ICAI”), (the “Guidance Note”). 2) The Company’s management is responsible for the preparation of the Restated Financial Information which have been approved by Board of Directors for the purpose of inclusion in the Addendum to be filed with Securities and Exchange Board of India (“SEBI”) and the stock exchanges where the equity shares of the Company are proposed to be listed (“Stock Exchanges”), in connection with the proposed IPO. The Restated Financial Information have been prepared by the management of the Company in accordance with the basis of preparation stated in Annexure V to the Restated Financial Information. The Board of Directors of the Company are responsible for designing, implementing and maintaining adequate internal control relevant to the preparation and presentation of the Restated Financial Information. The Board of Directors of the Company are also responsible for identifying and ensuring that the Company complies with the Act, the ICDR Regulations and the Guidance Note. 3) We have examined such Restated Financial Information taking into consideration: a) The terms of reference and our engagement agreed upon with you in accordance with our engagement letter dated August 22, 2024 along with addendum dated June 30, 2025 in connection with the proposed IPO of equity shares of the Company; b) The Guidance Note - The Guidance Note also requires that we comply with the ethical requirements of the Code of Ethics issued by the ICAI; c) Concepts of test checks and materiality to obtain reasonable assurance based on verification of evidence supporting the Restated Financial Information; and 2d) The requirements of Section 26 of the Act and the ICDR Regulations. Our work was performed solely to assist you in meeting your responsibilities in relation to your compliance with the Act, the ICDR Regulations and the Guidance Note in connection with the proposed IPO of equity shares of the Company. 4) These Restated Financial Information have been compiled by the Company’s management from: i. the audited special purpose interim financial statements of the Company as at and for the three months ended June 30, 2025 and June 30, 2024 prepared in accordance with recognition and measurement principles under Indian Accounting Standard (Ind AS) 34 "Interim Financial Reporting", specified under section 133 of the Act read with the Companies (Indian Accounting Standards) Rules 2015, as amended and other accounting principles generally accepted in India (the “Special Purpose Interim Financial Statements”) which have been approved by the Board of Directors at their Board meeting held on September 11, 2025. ii. the audited financial statement of the Company as at and for the year ended March 31, 2025, March 31, 2024 and March 31, 2023 prepared in accordance with Indian Accounting Standard as prescribed under section 133 of the Act read with the Companies (Indian Accounting Standards) Rules 2015, as amended, and other accounting principles generally accepted in India (the “Audited Financial Statements”) which have been approved by the Board of Directors at their meeting held on May 21, 2025, May 24, 2024 and May 23, 2023, respectively. 5) For the purpose of our examination, we have relied on: a) Auditor’s reports issued by us dated September 11, 2025 on the Special Purpose Interim Financial Statements of the Company as at and for the three months ended June 30, 2025 and June 30, 2024 as referred in Paragraph 4 (i) above. b) Auditor’s reports issued by us dated May 21, 2025 and May 24, 2024 respectively on the Audited Financial Statements of the Company as at and for the years ended March 31, 2025 and March 31, 2024, respectively as referred in Paragraph 4 (ii) above. c) Auditors’ reports issued by S.R. Batliboi & Associates LLP, Chartered Accountants (the “Previous Auditor”) dated May 23, 2023 on the Audited Financial Statements of the company as at and for the year ended March 31, 2023, as referred in paragraph 4(ii) above. 6) The audit reports issued by us referred in paragraph 5(b) included following matters which did not require any adjustment in the Restated Financial Information: Report on Other Legal and Regulatory Requirements paragraphs with respect to our audit reports issued by us referred in paragraph 5(b). Reporting on Audit Trail for the financial year ended March 31, 2024 Based on our examination which included test checks, the Company has used accounting software and loan management software for maintaining its books of account which has feature of recording audit trail (edit log) facility and the same has operated throughout the year for all relevant transactions recorded in the software, except that audit logs at database level for the accounting software were not enabled and certain parameters of audit trail were not captured for loan management software. Further, during the course of our audit we did not come across any instance of audit trail feature being tampered with, wherein the audit trail functionality was enabled As proviso to Rule 3(1) of the Companies (Accounts) Rules, 2014 is applicable from April 1, 2023, thus reporting under Rule 11(g) of the Companies (Audit and Auditors) Rules, 2014 on preservation of audit trail as per the statutory requirements for record retention is not applicable for the financial year ended March 31, 2024. Reporting on Audit Trail for the financial year ended March 31, 2025 Based on our examination which included test checks, the Company has used accounting software and loan management software for maintaining its books of account which has feature of recording audit trail (edit 3log) facility and the same has operated throughout the year for all relevant transactions recorded in the software, except that audit logs at database level for the accounting software and certain parameters of audit trail were enabled and made effective from September 19, 2024 onwards. Further, during the course of our audit we did not come across any instance of audit trail feature being tampered with, wherein the audit trail functionality was enabled and the audit trail has been preserved by the Company as per the statutory requirements for record retention 7) Based on our examination and according to the information and explanations given to us for the respective years as per paragraph 5 above, we report that: i. the Restated Financial Information have been prepared after incorporating adjustments for the changes in accounting policies, material errors and regrouping/reclassifications, as may be applicable, retrospectively in the financial years ended March 31, 2025, March 31, 2024 and March 31, 2023 and in the Special Purpose Interim Financial Statements of the Company as at and for the three months ended June 30, 2024 to reflect the same accounting treatment as per the accounting policy and grouping/classifications followed as at and for the three months ended June 30, 2025; ii. there are no qualifications in the auditor’s reports which require any adjustments; and iii. the Restated Financial Information has been prepared in accordance with the Act, the SEBI ICDR Regulations and the Guidance Note. 8) We have complied with the relevant applicable requirements of the Standard on Quality Control (SQC) 1, Quality Control for Firms that Perform Audits and Reviews of Historical Financial Information, and Other Assurance and Related Services Engagements. 9) The Restated Financial Information does not reflect the effects of events that occurred subsequent to the respective dates of the reports on the Special Purpose Interim Financial Statements and Audited Financial Statements mentioned in paragraph 4 above. 10) This report should not in any way be construed as a reissuance or re-dating of any of the previous audit reports issued by us or the Predecessor Auditor, nor should this report be construed as a new opinion on any of the financial information referred to herein. 11) We have no responsibility to update our report for events and circumstances occurring after the date of the report. 12) Our report is intended solely for use of the Board of Directors for inclusion in the Addendum to be filed with SEBI and the Stock Exchanges as applicable in connection with the proposed IPO. Our report should not be used, referred to or distributed for any other purpose except with our prior consent in writing. Accordingly, we do not accept or assume any liability or any duty of care for any other purpose or to any other person to whom this report is shown or into whose hands it may come without our prior consent in writing. For S S Kothari Mehta & Co. LLP Chartered Accountants Firm Registration No.: 000756N / N500441 Vijay Kumar Partner Membership No.: 092671 UDIN: 25092671BMOFGV4582 Place: New Delhi Date: September 11, 2025 4Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure I-Restated Statement of Assets and Liabilities (All amounts in Indian Rupees millions, unless otherwise stated) As at As at As at As at As at Particulars Notes June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 ASSETS Financial assets Cash and cash equivalents 3 10,264.24 9,324.57 9,311.58 5,265.89 2,726.29 Bank balances other than cash and cash equivalents 4 2,250.35 1,839.52 2,067.31 2,036.70 1,214.16 Derivative financial instruments 12 99.37 - 2.41 - 30.70 Loans 5 51,055.59 42,703.62 49,502.13 40,031.24 25,554.43 Investments 6 7 09.37 2 78.98 4 17.63 1 06.09 8 44.60 Other financial assets 7 7 43.54 3 95.88 6 06.06 3 06.55 2 28.12 Total financial assets 65,122.46 54,542.57 61,907.12 47,746.47 30,598.30 Non-financial assets Current tax assets (net) 8 1 57.14 1 04.00 1 84.11 82.77 40.69 Deferred tax assets (net) 9 6 42.80 4 91.05 6 09.78 4 39.37 2 93.35 Property, plant and equipment 10A 1 20.81 98.98 1 21.04 89.61 54.65 Right of use assets 10C 2 88.03 2 49.28 2 62.65 2 14.31 2 11.50 Intangible assets under development 37 36.07 12.89 41.30 29.53 4.70 Intangible assets 10B 30.44 41.54 22.50 13.20 5.50 Other non-financial assets 11 2 60.05 1 33.89 2 37.78 80.67 51.30 Total non-financial assets 1,535.34 1,131.63 1,479.16 9 49.46 6 61.69 Total assets 66,657.80 55,674.20 63,386.28 48,695.93 31,259.99 LIABILITIES AND EQUITY LIABILITIES Financial liabilities Derivative financial instruments 12 - 44.84 - 31.52 - Debt securities 13 14,329.84 13,484.14 14,181.29 10,223.43 8,998.50 Borrowings (other than debt securities) 14 33,756.34 27,910.84 31,081.96 24,766.47 13,963.11 Lease liabilities 15 3 08.77 2 74.14 2 84.11 2 36.31 2 42.90 Other financial liabilities 16 5 10.16 5 33.29 4 81.30 5 54.23 1 60.65 Total financial liabilities 48,905.11 42,247.25 46,028.66 35,811.96 23,365.16 Non-financial liabilities Current tax liabilities (net) 8 83.92 0 .03 4 5.76 - - Provisions 17 5 23.30 2 73.88 4 33.34 3 02.86 2 26.70 Other non-financial liabilities 18 2 30.45 2 23.02 2 89.84 2 54.64 1 23.20 Total non-financial liabilities 8 37.67 4 96.93 7 68.94 5 57.50 3 49.90 EQUITY Equity share capital 19 3 77.88 3 99.31 3 77.88 3 99.31 3 04.53 Other equity 20 16,537.14 1 2,530.71 16,210.80 11,927.16 7,240.40 Total equity 16,915.02 12,930.02 16,588.68 12,326.47 7,544.93 Total liabilities and equity 66,657.80 55,674.20 63,386.28 48,695.93 31,259.99 Summary of material accounting policies 2 The above Statement should be read with Annexure V- Material accounting policies and explanatory notes to Restated financial statements and Annexure VI- Statement of Restatement Adjustment to Audited financial statements. In terms of our report attached For S S Kothari Mehta & Co. LLP For and on behalf of the Board of Directors of Chartered Accountants Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) FRN: 000756N / N500441 per Vijay Kumar Sanjay Sharma Krishan Gopal Vipul Sharma Govinda Rajulu Chintala Partner Managing Director Chief Financial Officer Company Secretary Chairperson and Independent Director Membership No: 092671 DIN: 03337545 M. No: A27737 DIN: 03622371 New Delhi Gurugram Gurugram Gurugram Hyderabad September 11, 2025 September 11, 2025 September 11, 2025 September 11, 2025 September 11, 2025 5Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure II-Restated Statement of Profit and Loss (All amounts in Indian Rupees millions, unless otherwise stated) Three months ended Three months ended Year ended Year ended Year ended Particulars Notes June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Revenue from operations Interest income 21 3,607.82 3,117.04 13,259.64 9,486.86 5,664.85 Fees and commission income 23 145.92 128.25 544.17 478.64 254.80 Net gain on derecognition of financial instruments under 22 1 30.39 17.01 375.93 1 89.48 1 25.10 amortised cost category Net gain on fair value changes 24 185.50 92.10 417.58 247.20 189.50 Total revenue from operations 4,069.63 3,354.40 14,597.32 10,402.18 6,234.25 Other income 25 91.68 152.04 452.55 315.32 199.10 Total income 4,161.31 3,506.44 15,049.87 10,717.50 6,433.35 Expenses Finance cost 26 1,263.34 1,081.05 4,680.03 3,265.31 1,979.60 Net loss on fair value changes 27 120.92 13.32 36.21 61.80 65.70 Impairment on financial instruments 28 867.12 485.85 2,888.26 1,314.01 733.50 Employee benefit expenses 29 1,153.00 824.64 3,796.37 2,752.11 2,122.00 Depreciation and amortization expense 10 50.99 45.01 221.61 145.44 114.47 Other expenses 30 297.05 241.85 1,177.27 900.27 704.12 Total expenses 3,752.42 2,691.72 12,799.75 8,438.94 5,719.39 Profit / (Loss) before tax 408.89 814.72 2,250.12 2,278.56 713.96 Tax expense: Current tax 141.73 253.98 665.52 706.29 145.32 Deferred tax charge/(credit) (33.53) (48.68) (167.92) (144.52) 169.91 Income tax expense 108.20 205.30 497.60 561.77 315.23 Profit / (Loss) for the year / period (A) 300.69 609.42 1,752.52 1,716.79 398.73 Other comprehensive (loss) / income Items that will not be reclassified subsequently to profit or loss Re-measurement gains/ (losses) on defined benefit plans 2.06 (11.88) (9.72) (5.61) 39.90 Income tax effect (0.51) 3.00 2.49 1.50 (10.02) Other comprehensive (loss) / income (B) 1.55 (8.88) (7.23) (4.11) 29.88 Total comprehensive income / (loss) for the year / period (A+B) 302.24 600.54 1,745.29 1,712.68 428.61 Earnings per share (equity share, par value of Rs. 2 each) Basic (in Rs)* 1.57 3.41 9.51 10.62 2.57 Diluted (in Rs)* 1.54 3.37 9.34 10.50 2.54 Face value per share (in Rs)** 2.00 2.00 2.00 2.00 2.00 * Not annualised for June 30, 2025 & June 30, 2024 **Face value reduced from Rs. 10 to Rs. 2 as a result of event of split. Refer Note 32.1 Summary of material accounting policies 2 TheaboveStatementshouldbereadwithAnnexureV-MaterialaccountingpoliciesandexplanatorynotestoRestatedfinancialstatementsandAnnexureVI-StatementofRestatementAdjustmentto Audited financial statements. In terms of our report attached For S S Kothari Mehta & Co. LLP For and on behalf of the Board of Directors of Chartered Accountants Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) FRN: 000756N / N500441 per Vijay Kumar Sanjay Sharma Krishan Gopal Vipul Sharma Govinda Rajulu Chintala Partner Managing Director Chief Financial Officer Company Secretary Chairperson and Independent Director Membership No: 092671 DIN: 03337545 M. No: A27737 DIN: 03622371 New Delhi Gurugram Gurugram Gurugram Hyderabad September 11, 2025 September 11, 2025 September 11, 2025 September 11, 2025 September 11, 2025 6Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure III-Restated Statement of Cash Flows (All amounts in Indian Rupees millions, unless otherwise stated) Three months ended Three months ended Year ended Year ended Year ended Particulars June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Cash flow from operating activities Profit / (Loss) before tax 408.89 814.72 2250.12 2278.56 7 13.96 Adjustments for: Depreciation and impairment of PPE 2 1.14 1 8.59 1 09.61 5 0.85 4 1.27 Depreciation on right of use assets 2 9.85 2 6.42 1 12.00 9 4.59 7 3.20 Loss/ (Gain) on fair value of cross currency swap ( 96.96) 1 3.32 ( 33.93) 6 2.16 ( 3.90) Unrealised (gain) / loss on investments in mutual fund - - - - ( 1.36) Profit on sale of mutual fund units ( 88.54) ( 80.03) ( 383.65) ( 210.10) ( 118.54) Impairment of financial instruments 1 96.52 2 10.06 8 24.07 7 68.00 2 08.50 Gain on Early Termination of lease ( 0.68) ( 0.26) ( 4.98) ( 2.59) - Provision on Investment ( 15.80) - 2 90.51 2 .50 - Loans and advances written off 6 82.32 2 79.44 2 ,162.81 5 53.14 5 00.00 Loss on settlement 1 0.89 3 .87 2 9.30 1 6.81 2 5.00 (Profit)/loss on sale of property, plant and equipment (net) ( 0.06) ( 0.02) ( 0.37) 0 .50 - Expense on employee stock option scheme 2 4.10 3 .06 9 2.41 4 6.99 5 7.06 Unrealised Interest income on security deposit ( 1.11) ( 2.13) ( 4.05) ( 6.32) ( 1.40) Interest on leases liabilities 1 2.93 9 .87 4 5.72 2 2.11 3 1.60 Interest on Income Tax refund - ( 8.48) - Operating profit before working capital changes 1 ,183.48 1 ,296.91 5 ,481.09 3 ,677.20 1 ,525.39 Movements in working capital: (Increase)/Decrease in bank balances not considered as cash and cash ( 183.04) 1 97.18 ( 30.61) ( 822.54) 1 ,029.54 equivalents (Increase) / Decrease in loan portfolio ( 2,443.19) ( 3,165.75) ( 12,487.07) ( 15,814.73) ( 9,410.83) (Increase) / Decrease in other financial assets ( 138.44) ( 87.95) ( 300.40) ( 82.67) ( 159.52) (Increase) / Decrease in other non financial assets ( 22.27) ( 53.22) ( 157.11) ( 29.37) 1 2.10 Increase / (Decrease) in other financial liabilities (excluding lease liabilities) 2 8.70 ( 15.76) ( 67.03) 3 90.24 ( 167.10) Increase in derivative financial instruments - - ( 69.60) Increase / (Decrease) in other non financial liabilities ( 59.39) ( 31.62) 3 5.20 1 31.43 5 9.75 Increase / (Decrease) in provisions 9 2.02 ( 40.86) 1 20.76 7 0.55 6 5.04 Cash used in operations ( 1,542.13) ( 1,901.07) ( 7,405.16) ( 12,479.89) ( 7,115.23) Income taxes paid ( 76.60) ( 275.21) ( 712.62) ( 748.37) ( 88.67) Net cash used in operating activities (A) ( 1,618.73) ( 2,176.28) ( 8,117.78) ( 13,228.26) ( 7,203.90) Cash flow from investing activities Purchase of property, plant and equipment, excluding right of use assets ( 23.52) ( 44.95) ( 168.93) ( 116.13) ( 44.29) Sale of property, plant and equipment, excluding right of use assets 0 .12 0 .13 1 .29 0 .46 - Purchase of investments ( 24,477.99) ( 28,091.54) ( 1,11,739.50) ( 71,885.00) ( 37,438.10) Sale of investments 2 4,290.59 2 7,998.68 1 ,11,521.10 7 2,831.11 3 8,264.50 Net cash used in investing activities (B) ( 210.80) ( 137.68) ( 386.04) 8 30.44 7 82.11 Cash flow from financing activities Proceeds from issue of equity shares (including securities premium net of issue - - 2 ,424.56 3 ,020.87 - expenses) Amount received from issue of share warrants - - - 0 .95 - Proceeds from issue of debt securities 9 50.00 4 ,990.00 9 ,290.00 6 ,787.00 4 ,926.51 Redemption of debt securities ( 801.45) ( 1,729.29) ( 5,332.14) ( 5,562.07) ( 5,150.31) Proceeds from borrowings (other than debt securities) 7 ,589.93 8 ,362.74 2 8,316.00 2 8,395.00 1 2,677.23 Repayment of borrowings (other than debt securities) ( 4,915.55) ( 5,218.36) ( 22,000.51) ( 17,591.63) ( 4,736.35) Payment of lease liabilities (including interest) ( 40.74) ( 32.45) ( 148.50) ( 112.70) ( 97.40) Net cash generated from financing activities (C) 2 ,782.19 6 ,372.64 1 2,549.41 1 4,937.42 7 ,619.68 Net increase / (decrease) in cash and cash equivalents (A + B + C) 9 52.66 4 ,058.68 4 ,045.59 2 ,539.60 1 ,197.89 Cash and cash equivalents at the beginning of the period 9 ,311.58 5 ,265.89 5 ,265.89 2 ,726.29 1 ,528.40 Cash and cash equivalents at the end of the year (refer note 3) 1 0,264.24 9 ,324.57 9 ,311.58 5 ,265.89 2 ,726.29 7Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure III-Restated Statement of Cash Flows (All amounts in Indian Rupees millions, unless otherwise stated) Three months ended Three months ended Year ended Year ended Year ended Particulars June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Components of cash and cash equivalents as at the end of the period Cash in hand 9 9.39 9 8.91 1 12.40 9 2.02 4 9.31 Balance with banks - on current account 4 ,154.85 2 ,821.99 4 ,048.73 2 ,271.41 3 73.66 Deposits with original maturity of less than or equal to 3 months 6 ,010.00 6 ,403.67 5 ,150.45 2 ,902.46 2 ,303.32 Total cash and cash equivalents 1 0,264.24 9 ,324.57 9 ,311.58 5 ,265.89 2 ,726.29 Note: The above cash flow statement has been prepared under the "Indirect Method" as set out in Indian Accounting Standard (Ind AS) 7 - "Statement of Cash Flows". Summary of material accounting policies 2 TheaboveStatementshouldbereadwithAnnexureV-MaterialaccountingpoliciesandexplanatorynotestoRestatedfinancialstatementsandAnnexureVI-StatementofRestatementAdjustmenttoAudited financial statements. In terms of our report attached For S S Kothari Mehta & Co. LLP For and on behalf of the Board of Directors of Chartered Accountants Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) FRN: 000756N / N500441 per Vijay Kumar Sanjay Sharma Krishan Gopal Vipul Sharma Govinda Rajulu Chintala Partner Managing Director Chief Financial Officer Company Secretary Chairperson and Independent Director Membership No: 092671 DIN: 03337545 M. No: A27737 DIN: 03622371 New Delhi Gurugram Gurugram Gurugram Hyderabad September 11, 2025 September 11, 2025 September 11, 2025 September 11, 2025 September 11, 2025 8Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure IV-Restated Statement of changes in equity (All amounts in Indian Rupees millions, unless otherwise stated) As at As at As at As at As at Particulars June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Equity shares of Rs. 2 each for June 30, 2025 & March 31, 2025 & Rs.10 each for June 30, No. of shares Amount No. of shares Amount No. of shares Amount No. of shares Amount No. of shares Amount 2024, March 31, 2024 and March 31, 2023 issued, subscribed and fully paid Balance at the beginning of the reporting year/period 1 9,17,41,570 3 83.48 4 8,30,520 4 8.31 4 8,30,520 4 8.31 4 8,30,500 4 8.31 4 8,30,500 4 8.31 Effect of Split on the opening number of outstanding shares (Refer note No. 19.1) - - - - 1 ,93,22,080 - Changes in share capital due to prior period errors - - - - - - - - - - Amount recoverable from ESOP Trust (For the period ended June 30, 2025 & for the year ended March 31, 2025 28,01,470 shares of Rs.2 face value and For the period ended June 30, 2024 & for the year ended March 31, 2024 and March 31, 2023 5,60,294 shares of Rs.10 (28,01,470) (5.60) (5,60,294) (5.60) (5,60,294) ( 5.60) ( 5,60,294) (5.60) ( 5,60,294) (5.60) face value each) held by trust Effect of Split on the number of shares held by trust - - - - (22,41,176) - Restated balance at the beginning of the current/previous Reporting period/year 1 8,89,40,100 3 77.88 4 2,70,226 4 2.70 2 ,13,51,130 4 2.70 4 2,70,206 4 2.70 4 2,70,206 4 2.70 Changes in share capital during the period/year - - - - 3 ,35,17,794 3 35.18 2 0.00 0.00 - - Additional shares pursuant to share split during the period/year - - - - 1 3,40,71,176 - Balance at the end of the reporting period/year 1 8,89,40,100 3 77.88 4 2,70,226 4 2.70 1 8,89,40,100 3 77.88 4 2,70,226 4 2.70 4 2,70,206 4 2.70 Compulsorily Convertible Cumulative Preference Shares (CCPS) As at As at As at As at As at Particulars June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Preference shares of Rs. 10 each issued, subscribed and fully paid No. of shares Amount No. of shares Amount No. of shares Amount No. of shares Amount No. of shares Amount Balance at the beginning of the reporting period/year - - 2 ,61,82,448 2 61.82 2 ,61,82,448 2 61.82 2 ,61,82,448 2 61.82 2,61,82,448 2 61.82 Changes in share capital due to prior period errors - - - - - - - - - - Restated balance at the beginning of the current/previous Reporting period/year - - 2,61,82,448 2 61.82 2,61,82,448 2 61.82 2,61,82,448 261.82 2,61,82,448 261.82 Changes in share capital during the period/year - - - - ( 2,61,82,448) ( 261.82) - - - - Balance at the end of the reporting period/year - - 2 ,61,82,448 2 61.82 - - 2 ,61,82,448 2 61.82 2 ,61,82,448 2 61.82 Compulsorily Convertible Cumulative Preference Shares (CCPS) As at As at As at As at As at Particulars June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Preference shares of Rs. 20 each issued, subscribed and fully paid* No. of shares Amount No. of shares Amount No. of shares Amount No. of shares Amount No. of shares Amount Balance at the beginning of the reporting period/year - - 4 7,39,244 9 4.78 47,39,244 9 4.78 - - - - Changes in share capital due to prior period errors - - - - - - - - Restated balance at the beginning of the current/previous Reporting period/year - - - - 47,39,244 9 4.78 - - - - Changes in share capital during the period/year - - - - (47,39,244) ( 94.78) 4 7,39,244 9 4.78 - - Balance at the end of the reporting period/year - - 4 7,39,244 9 4.78 - - 4 7,39,244 9 4.78 - - Total Equity Share Capital 1 8,89,40,100 3 77.88 3 ,51,91,918 3 99.31 1 8,89,40,100 3 77.88 3 ,51,91,918 3 99.31 3 ,04,52,654 3 04.53 9Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure IV-Restated Statement of changes in equity (All amounts in Indian Rupees millions, unless otherwise stated) B. Other equity Reserves and Surplus Statutory reserve Particulars Share option Retained Total Security Premiumunder section 45IC Other comprehensive income Share warrants Outstanding account earnings of RBI Act Balance at April 01, 2025 1 1,966.43 9 26.11 3 11.46 2 ,983.05 2 3.75 - 16,210.80 Change in accounting policy or prior period errors - - - - - - - Restated balance at April 01, 2025 1 1,966.43 9 26.11 3 11.46 2 ,983.05 2 3.75 - 1 6,210.80 Profit for the three months - - - 3 00.69 - - 300.69 Transfer to / (from) statutory reserve under 45IC of RBI Act 1934 - 6 1.19 - ( 61.19) - - - Other comprehensive income for the three months - - - - 1 .55 - 1 .55 Transfer to / from share option outstanding account - - 2 4.10 - - - 24.10 Utilisation / lapses of share option outstanding - - - - - - - Balance at the end of June 30, 2025 1 1,966.43 9 87.30 3 35.56 3 ,222.55 2 5.30 - 1 6,537.14 Balance at April 01, 2024 9 ,519.49 5 83.60 2 19.05 1,573.04 3 0.98 0 .95 11,927.16 Change in accounting policy or prior period errors - - - - - - - Restated balance at April 01, 2024 9 ,519.49 5 83.60 2 19.05 1,573.04 3 0.98 0 .95 11,927.16 Profit for the three months - - - 6 09.42 - - 609.42 Transfer to / (from) statutory reserve under 45IC of RBI Act 1934 - 1 21.88 - (121.88) - - - Other comprehensive income for the three months - - - - ( 8.88) - (8.88) Transfer to / from share option outstanding account - - 3 .06 - - - 3 .06 Utilisation / lapses of share option outstanding - - - - - - - Balance at the end of June 30, 2024 9 ,519.49 7 05.48 2 22.11 2,060.58 2 2.10 0 .95 12,530.71 10Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure IV-Restated Statement of changes in equity (All amounts in Indian Rupees millions, unless otherwise stated) Reserves and Surplus Statutory reserve Particulars Share option Retained Total Security Premiumunder section 45IC Other comprehensive income Share warrants outstanding account earnings of RBI Act Balance as at April 01, 2022 6,593.40 1 51.30 115.00 (110.18) 5 .21 - 6 ,754.73 Change in accounting policy or prior period errors - - - - - - - Restated balance as at April 01, 2022 6 ,593.40 1 51.30 1 15.00 (110.18) 5 .21 - 6 ,754.73 Profit for the year - - - 3 98.73 - - 398.73 Transfer to / (from) statutory reserve under 45IC of RBI Act 1934 - 1 10.00 - (110.00) - - - Other comprehensive income for the year - - - - 2 9.88 - 29.88 Transfer to / from share option outstanding account - - 5 7.06 - - - 57.06 Balance at the end of the reporting year 2023 6,593.40 2 61.30 1 72.06 1 78.55 3 5.09 - 7 ,240.40 Change in accounting policy or prior period errors - - - - - - Restated balance at the end of the reporting year 2023 6,593.40 2 61.30 172.06 1 78.55 3 5.09 - 7 ,240.40 Profit for the year - 1,716.79 - - 1 ,716.79 Transfer to / (from) statutory reserve under 45IC of RBI Act 1934 - 3 22.30 (322.30) - - - Other comprehensive income for the year - - ( 4.11) - (4.11) Transfer to / from share option outstanding account - 4 6.99 - - - 46.99 Premium on Issue of share capital 2 ,926.09 - - - 2 ,926.09 Money received against share warrants - - - 0.95 0 .95 Balance at the end of the reporting year 2024 9,519.49 5 83.60 219.05 1,573.04 3 0.98 0 .95 11,927.16 Change in accounting policy or prior period errors - - - - - - Restated balance at the end of the reporting year 2024 9,519.49 5 83.60 219.05 1,573.04 3 0.98 0 .95 11,927.16 Profit for the year - - 1,752.52 1 ,752.52 Transfer to / (from) statutory reserve under 45IC of RBI Act 1934 - 3 42.51 - (342.51) - Other comprehensive income for the year - - ( 7.23) (7.23) Transfer to / from share option outstanding account - 9 2.41 92.41 Premium on Issue of share capital 2 ,446.94 - 2 ,446.94 Conversion of share warrants into equity shares - (0.95) (0.95) Balance at the end of the reporting year 2025 11,966.43 926.11 311.46 2,983.05 2 3.75 - 1 6,210.80 Summary of material accounting policies The above Statement should be read with Annexure V- Material accounting policies and explanatory notes to Restated financial statements and Annexure VI- Statement of Restatement Adjustment to Audited financial statements. In terms of our report attached For S S Kothari Mehta & Co. LLP Chartered Accountants FRN: 000756N / N500441 per Vijay Kumar Sanjay Sharma Krishan Gopal Vipul Sharma Govinda Rajulu Chintala Partner Managing Director Chief Financial Officer Company Secretary Chairperson and Independent Director Membership No: 092671 DIN: 03337545 M. No: A27737 DIN: 03622371 New Delhi Gurugram Gurugram Gurugram Hyderabad September 11, 2025 September 11, 2025 September 11, 2025 September 11, 2025 September 11, 2025 11Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V- Material accounting policies and explanatory notes to Restated financial statements (All amounts in Indian Rupees millions, unless otherwise stated) 1 General information AyeFinanceLimited(Formerlyknownas AyeFinancePrivateLimited)“theCompany”wasincorporatedtocarryonthebusinessofafinancecompanyandtoprovidefinance(whethershortorlong termloanorworkingcapitalfinance,developmentfinance,factoring,leasing,guaranteesoranyotherdebtrelatedfunding)tomicro,smallandmediumscaleenterprisesandtoindividuals.OnJuly18, 2014,theCompanyreceivedacertificateofregistrationfromtheReserveBankofIndiavideregistrationno.B-14.03323underSection45-IAoftheReserveBankofIndiaAct,1934tocarryonthe businessofaNon-BankingFinancialCompany(NBFC)withoutacceptanceofpublicdeposits.TheCompanyiscurrentlyasystemicallyimportantnondeposittakingNonBankingFinanceCompany(ND- NBFC)asdefinedunderSection45–IAoftheReserveBankOfIndiaAct,1934.Accordingly,allprovisionsoftheReserveBankofIndiaAct,1934andalldirections,guidelinesorinstructionsofthe ReserveBankofIndiathathavebeenissuedfromtimetotimeandareinforceandasapplicabletoaNondeposittakingNon-BankingFinancialCompanyareapplicabletotheCompany.Theregistered office of the Company is situated in Delhi. The Company has issued debentures on a private placement basis and the said securities are listed with Bombay Stock Exchange (BSE) on Debt market segment. TheCompany’sRestatedFinancialStatementsforthethreemonthsended30June2025and30June2024andfortheyearsended31March2025,31March2024,and31March2023 wereapproved for issue by the Board of Directors, in accordance with resolution passed on September 11, 2025. PursuanttoresolutionsdatedOctober16,2024andOctober17,2024passedbyourBoardandourShareholdersrespectively,thenameofourCompanywaschangedto'AyeFinanceLimited'.Afresh certificate of incorporation dated December 10, 2024 was issued by the ROC consequent to our Company’s conversion into a public limited company. 2 Material accounting policies: 2.1 Statement of compliance: ThefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsoftheCompaniesAct,2013andtheIndianAccountingStandards(IndAS)notifiedundertheCompanies(Indian AccountingStandards)Rules,2015(asamendedfromtimetotime)issuedbyMinistryofCorporateAffairsinexerciseofthepowersconferredbysection133ofCompaniesAct,2013,(the'Act'),other relevantprovisionsoftheAct.Inaddition,theguidancenotes/announcementsissuedbytheInstituteofCharteredAccountantsofIndia(ICAI)arealsoappliedexceptwherecompliancewithother statutory promulgations require a different treatment. Any directions issued by the RBI or other regulators are implemented as and when they become applicable. 2.2 Basis of preparation: Thefinancialstatementshavebeenpreparedonagoingconcernbasisthehistoricalcostbasisexceptforcertainfinancialinstrumentsthataremeasuredatfairvaluesattheendofeachreporting period. TheRestatedfinancialinformation comprisetheRestatedStatementofAssetsandLiabilitiesasatJune30,2025,June30,2024,March31,2025,March31,2024andMarch31,2023,theRestated StatementofProfit&Lossaccount(includingOtherComprehensiveIncome),theRestated StatementofCashFlowsandtheRestatedStatementofChangesinEquityforperiodsendedJune30,2025, June30,2024andyearsendedMarch31,2025,March31,2024andMarch31,2023;andmaterialaccountingpoliciesandotherexplanatoryinformationtotheRestated financialstatement (collectively,the‘Restated financialStatementsorRestated financialinformation),hasbeenspecificallypreparedbythemanagementforinclusionintheaddendumtoDraftRedHerringProspectus ('DRHP')tobefiledbytheCompanywiththeSecuritiesandExchangeBoardofIndia(“SEBI”)andNationalStockExchangeofIndiaLimitedandBSELimited,wheretheEquitySharesareproposedtobe listed (the “Stock Exchanges”) in connection with the proposed Initial Public Offer (‘IPO’) of equity shares of the Company (referred to as the “Issue”), in accordance with the requirements of:- a. Section 26 of Part I of Chapter III of the Companies Act 2013 (the “Act”) and b.RelevantprovisionsofTheSecuritiesandExchangeBoardofIndia(IssueofCapitalandDisclosureRequirements)Regulations,2018,asamended(“theSEBIICDRRegulations”)issuedbytheSecurities and Exchange Board of India ('SEBI') on September 11, 2018 as amended from time to time in pursuance of the Securities and Exchange Board of India Act, 1992. c. The Guidance Note on Report in Company Prospectuses (Revised 2019) issued by the Institute of Chartered Accountants of India. 2.3 Presentation of financial statements: ThefinancialstatementshavebeenpreparedinaccordancewithIndianAccountingStandards(IndAS)aspertheCompanies(IndianAccountingStandards)Rules,2015asamendedfromtimetotime andnotifiedundersection133oftheCompaniesAct,2013(theAct)alongwithotherrelevantprovisionsoftheActandtheMasterDirection–Non-BankingFinancialCompany–SystemicallyImportant Non-DeposittakingCompanyandDeposittakingCompany(ReserveBank)Directions,2020,asamended(‘theNBFCMasterDirections’)issuedbyRBI.Thefinancialstatementshavebeenpreparedona going concern basis. TheCompanyusesaccrualbasisofaccountingexceptincaseofsignificantuncertainties.ThefinancialstatementsarepresentedinIndianRupees(INR)andallvaluesareroundedtothemillionsupto twodecimals,exceptwhenotherwiseindicated.TheregulatorydisclosuresasrequiredbyRBIMasterDirectionstobeincludedasapartoftheNotestoAccountsarealsopreparedaspertheIndAS financial statements. TheCompanypresentsitsbalancesheetinorderofliquidity.Financialassetsandfinancialliabilitiesaregenerallyreportedgrossinthebalancesheet.Theyareonlyoffsetandreportednetwhen,in additiontohavinganunconditionallegallyenforceablerighttooffsettherecognisedamountswithoutbeingcontingentonafutureevent,thepartiesalsointendtosettleonanetbasisinallofthe following circumstances: (a) The normal course of business (b) The event of default (c) The event of insolvency or bankruptcy of the Group and / or its counterparties 12Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V- Material accounting policies and explanatory notes to Restated financial statements (All amounts in Indian Rupees millions, unless otherwise stated) 2.4 Revenue recognition: RevenueisrecognisedtotheextentthatitisprobablethattheeconomicbenefitswillflowtotheCompanyandtherevenuecanbereliablymeasuredandthereexistsreasonablecertaintyofits recovery. Revenue is measured at the fair value of the consideration received or receivable as reduced for estimated customer credits and other similar allowances. (a) Interest income EIR method UnderIndAS109,interestincomeisrecordedusingtheeffectiveinterestratemethodforallfinancialinstrumentsmeasuredatamortisedcostandfinancialinstrumentmeasuredatfairvaluethrough othercomprehensiveincome('FVOCI')andfairvaluethroughprofitandloss(FVTPL).TheEIRistheratethatexactlydiscountsestimatedfuturecashreceiptsthroughtheexpectedlifeofthefinancial instrument or, when appropriate, a shorter period, to the net carrying amount of the financial asset. For financial assets at FVTPL transaction costs are recognised in profit or loss at initial recognition. TheEIR(andtherefore,theamortisedcostoftheasset)iscalculatedbytakingintoaccountanydiscountorpremiumonacquisition,feesandcoststhatareanintegralpartoftheEIR.TheCompany recognises interest income using a rate of return that represents the best estimate of a constant rate of return over the expected life of the financial instrument. TheinterestincomeiscalculatedbyapplyingtheEIRtothegrosscarryingamountofnon-creditimpairedfinancialassets(i.e.attheamortisedcostofthefinancialassetbeforeadjustingforany expected credit loss allowance). For credit-impaired financial assets the interest income is recorded as and when realised. Ifexpectationsregardingthecashflowsonthefinancialassetarerevisedforreasonsotherthancreditrisk,theadjustmentisbookedasapositiveornegativeadjustmenttothecarryingamountofthe asset in the balance sheet with an increase or reduction in interest income. The adjustment is subsequently amortised through Interest income in the statement of profit and loss. (b) Net gain or fair value changes Anydifferencesbetweenthefairvaluesofthefinancialassetsclassifiedasfairvaluethroughtheprofitorloss,heldbytheCompanyonthebalancesheetdateisrecognisedasanunrealisedgain/lossin the statement of profit and loss. (c) Net gain / (loss) on de recognition of financial instruments under amortised cost category Gainsarisingoutofdirectassignmenttransactionscomprisethedifferencebetweentheinterestontheloanportfolioandtheapplicablerateatwhichthedirectassignmentisenteredintowiththe assignee,alsoknownastherightofExcessInterestSpread(EIS).ThefutureEISbasisthescheduledcashflows,onexecutionofthetransaction,discountedattheapplicablerateenteredintowiththe assignee is recorded upfront in statement of profit and loss. Incomefromdirectassignmenttransactionrepresentsthedifferencebetweenthecarryingamountoftheasset(orthecarryingamountallocatedtotheportionoftheassetde-recognised)and consideration received (including any new asset obtained less any new liability). (d) Other operational revenue: Otheroperationalrevenuerepresentsincomeearnedfromtheactivitiesincidentaltothebusinessandisrecognisedwhentherighttoreceivetheincomeisestablishedasperthetermsofthecontract. This includes cheque bouncing charges, late payment charges and prepayment charges etc. which are recorded as and when realised. The Company recognises revenue from contracts with customers based on a five-step model as set out in IndAS 115: Step1:Identifycontract(s)withacustomer:Acontractisdefinedasanagreementbetweentwoormorepartiesthatcreatesenforceablerightsandobligationsandsetsoutthecriteriaforevery contract that must be met. Step 2: Identify performance obligations in the contract: A performance obligation is a promise in a contract with a customer to transfer a good or service to the customer. Step3:Determinethetransactionprice:ThetransactionpriceistheamountofconsiderationtowhichtheCompanyexpectstobeentitledinexchangefortransferringpromisedgoodsorservicestoa customer, excluding amounts collected on behalf of third parties. Step4:Allocatethetransactionpricetotheperformanceobligationsinthecontract:Foracontractthathasmorethanoneperformanceobligation,theCompanyallocatesthetransactionpricetoeach performance obligation in an amount that depicts the amount of consideration to which the Company expects to be entitled in exchange for satisfying each performance obligation. Step 5: Recognise revenue when (or as) the Company satisfies a performance obligation. RevenuefromcontractswithcustomersisrecognisedwhencontrolofthegoodsorservicesaretransferredtothecustomeratanamountthatreflectstheconsiderationtowhichtheCompanyexpects to be entitled in exchange for those goods or services. Income from other financial charges including cheque bouncing charges, foreclosure charges are collected from loan customers for early payment/closure of loan and are recognised on realisation. (e) Insurance claims: Insuranceclaimsareaccountedforonthebasisofclaimsadmitted/expectedtobeadmittedandtotheextentthattheamountrecoverablecanbemeasuredreliablyanditisreasonabletoexpect ultimate collection. 13Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V- Material accounting policies and explanatory notes to Restated financial statements (All amounts in Indian Rupees millions, unless otherwise stated) 2.5 Leases: The Company evaluates each contract or arrangement, whether it qualifies as lease as defined under Ind AS 116 The Company as a lessee TheCompany’sleaseassetclassesprimarilyconsistofleasesforitsvariousofficespaces.TheCompanyassesseswhetheracontractcontainsalease,atinceptionofacontract.Acontractis,orcontains, aleaseifthecontractconveystherighttocontroltheuseofanidentifiedassetforaperiodoftimeinexchangeforconsideration.Toassesswhetheracontractconveystherighttocontroltheuseofan identifiedasset,theCompanyassesseswhether:(i)thecontractinvolvestheuseofanidentifiedasset(ii)theCompanyhassubstantiallyalloftheeconomicbenefitsfromuseoftheassetthroughthe period of the lease and (iii) the Company has the right to direct the use of the asset. Atthedateofcommencementofthelease,theCompanyrecognizesaright-of-useasset(“ROU”)andacorrespondingleaseliabilityforallleasearrangementsinwhichitisalessee.Thecompanyhas not exercised the exemption to exclude short term leases or low value leases. Certainleasearrangementsincludestheoptionstoextendorterminatetheleasebeforetheendoftheleaseterm.ROUassetsandleaseliabilitiesincludestheseoptionswhenitisreasonablycertain that they will be exercised. Theright-of-useassetsareinitiallyrecognizedatcost,whichcomprisestheinitialamountoftheleaseliabilityadjustedforanyleasepaymentsmadeatorpriortothecommencementdateofthelease plus any initial direct costs less any lease incentives. They are subsequently measured at cost less accumulated depreciation and impairment losses. Right-of-useassetsaredepreciatedfromthecommencementdateonastraight-linebasisovertheshorteroftheleasetermandusefullifeoftheunderlyingasset.Rightofuseassetsareevaluatedfor recoverabilitywhenevereventsorchangesincircumstancesindicatethattheircarryingamountsmaynotberecoverable.Forthepurposeofimpairmenttesting,therecoverableamount(i.e.thehigher ofthefairvaluelesscosttosellandthevalue-in-use)isdeterminedonanindividualassetbasisunlesstheassetdoesnotgeneratecashflowsthatarelargelyindependentofthosefromotherassets.In such cases, the recoverable amount is determined for the Cash Generating Unit (CGU) to which the asset belongs. Theleaseliabilityisinitiallymeasuredatamortizedcostatthepresentvalueofthefutureleasepayments.Theleasepaymentsarediscountedusingtheinterestrateimplicitintheleaseor,ifnotreadily determinable,usingtheincrementalborrowingratespertainingtothecompany.LeaseliabilitiesareremeasuredwithacorrespondingadjustmenttotherelatedrightofuseassetiftheCompany changes its assessment if whether it will exercise an extension or a termination option. Lease liability and ROU asset have been separately presented in the balance sheet and lease payments have been classified as financing cash flows. 2.6 Employee benefits: Employee benefits include provident fund, employee state insurance scheme, gratuity fund and compensated absences. (a) Short term employee benefits: Employeebenefitsfallingduewhollywithintwelvemonthsofrenderingtheserviceareclassifiedasshorttermemployeebenefitsandareexpensedintheperiodinwhichtheemployeerendersthe related service. Liabilities recognised in respect of short-term employee benefits are measured at the undiscounted amount of the benefits expected to be paid in exchange for the related service. (b) Post employment benefits: (i) Defined contribution plan TheCompany'scontributiontoEmployeeProvidentFund,EmployeeStateInsuranceSchemeandLabourWelfareFundundertherelevantActsareconsideredasdefinedcontributionplansandare charged as an expense based on the amount of contribution required to be made and when services are rendered by the employees. (ii) Defined benefit plan BenefitspayabletoeligibleemployeesoftheCompanywithrespecttogratuity,adefinedbenefitplanisaccountedforonthebasisofanactuarialvaluationasatthebalancesheetdate.Inaccordance withthePaymentofGratuityAct,1972,theplanprovidesforlumpsumpaymentstovestedemployeesonretirement,deathwhileinserviceoronterminationofemploymentinanamountequivalent to15daysbasicsalaryforeachcompletedyearofservice.Vestingoccursuponcompletionoffiveyearsofservice.Thepresentvalueofsuchobligationisdeterminedbytheprojectedunitcreditmethod andadjustedforpastservicecostandfairvalueofplanassetsasatthebalancesheetdatethroughwhichtheobligationsaretobesettled.Theresultantactuarialgainorlossonchangeinpresentvalue of the defined benefit obligation is reflected immediately in the balance sheet with a charge or credit recognised in other comprehensive income in the period in which they occur. (c) Long-term employee benefits CompensatedabsenceswithrespecttoleaveencashmentbenefitspayabletoemployeesoftheCompanywhileinservice,onretirement,deathwhileinserviceoronterminationofemploymentwith respecttoaccumulatedleavesoutstandingattheyearendareaccountedforonthebasisofanactuarialvaluationasatthebalancesheetdate.Thedefinedbenefitobligationiscalculatedannuallyby an actuary using the projected unit credit method. (d) Termination benefits TerminationbenefitssuchascompensationunderemployeeseparationschemesarerecognisedasexpensewhentheCompany’sofferoftheterminationbenefitisacceptedorwhentheCompany recognises the related restructuring costs whichever is earlier. 2.7 Taxation: Income tax expense represents the sum of the tax currently payable and deferred tax. (a) Current tax Thetaxcurrentlypayableisbasedontaxableprofitfortheyear.Taxableprofitdiffersfrom‘profitbeforetax’asreportedinthestatementofprofitandlossbecauseofitemsofincomeorexpensethat aretaxableordeductibleinotheryearsanditemsthatarenevertaxableordeductible.TheCompany’scurrenttaxiscalculatedusingtaxratesthathavebeenenactedorsubstantivelyenactedbythe end of the reporting period and is measured in accordance with Income tax Act, 1961, Income Computation and Disclosure Standards and other applicable tax laws. Currenttaxassetsandliabilitiesareoffsetonlyifthereisalegallyenforceablerighttosetofftherecognisedamounts,anditisintendedtorealisetheassetandsettletheliabilityonanetbasisor simultaneously. (b) Deferred tax Deferredtaxisrecognisedontemporarydifferencesbetweenthecarryingamountsofassetsandliabilitiesinthefinancialstatementsandthecorrespondingtaxbasesusedinthecomputationof taxableprofit.Deferredtaxliabilitiesaregenerallyrecognisedforalltaxabletemporarydifferences.Deferredtaxassetsaregenerallyrecognisedforalldeductibletemporarydifferencestotheextent thatitisprobablethattaxableprofitswillbeavailableagainstwhichthosedeductibletemporarydifferencescanbeutilised.Suchdeferredtaxassetsandliabilitiesarenotrecognisedifthetemporary difference arises from the initial recognition (other than in a business combination) of assets and liabilities in a transaction that affects neither the taxable profit nor the accounting profit. Thecarryingamountofdeferredtaxassetsisreviewedattheendofeachreportingperiodandreducedtotheextentthatitisnolongerprobablethatsufficienttaxableprofitswillbeavailabletoallow all or part of the asset to be recovered. 14Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V- Material accounting policies and explanatory notes to Restated financial statements (All amounts in Indian Rupees millions, unless otherwise stated) Deferredtaxliabilitiesandassetsaremeasuredatthetaxratesthatareexpectedtoapplyintheperiodinwhichtheliabilityissettledortheassetrealised,basedontaxrates(andtaxlaws)thathave been enacted or substantively enacted by the end of the reporting period. ThemeasurementofdeferredtaxliabilitiesandassetsreflectsthetaxconsequencesthatwouldfollowfromthemannerinwhichtheCompanyexpects,attheendofthereportingperiod,torecoveror settle the carrying amount of its assets and liabilities. Deferredtaxassetsanddeferredtaxliabilitiesareoffsetifalegallyenforceablerightexiststosetoffcurrenttaxassetsagainstcurrenttaxliabilitiesandthedeferredtaxesrelatetothesametaxable entity and the same taxation authority. (c) Current tax and deferred tax for the year Currenttaxanddeferredtaxarerecognisedinstatementofprofitorloss,exceptwhentheyrelatetoitemsthatarerecognisedinothercomprehensiveincomeordirectlyinequity,inwhichcase,the current and deferred tax are also recognised in other comprehensive income or directly in equity respectively. 2.8 Property, plant and equipment: (a) Property, plant and equipment Property,plantandequipmentisstatedatcost,lessaccumulateddepreciationandaccumulatedimpairmentlosses.Theinitialcostofanassetcomprisesitspurchasepriceorconstructioncost,any costsdirectlyattributabletobringingtheassetintothelocationandconditionnecessaryforittobecapableofoperatinginthemannerintendedbymanagement,theinitialestimateofany decommissioningobligation,ifany,and,forassetsthatnecessarilytakeasubstantialperiodoftimetogetreadyfortheirintendeduse,financecosts.Costincludesimportdutiesandanynon-refundable taxesonsuchpurchase,afterdeductingrebatesandtradediscountsandisinclusiveoffreight,duties,taxesandotherincidentalexpenses.Allcostarecapitalizedwhicharedirectlyattributableto bringingassetstotheconditionandlocationessentialforittooperateinamannerasintendedbythemanagement.Inrespectofassetsdueforcapitalization,wherefinalbills/claimsaretobe received/passed,thecapitalisationisbasedontheengineeringestimates.Finaladjustments,forcostsanddepreciationaremaderetrospectivelyintheyearofascertainmentofactualcostand finalisation of claim. Subsequent expenditure incurred on assets put to use is capitalised only when it increases the future economic benefits / functioning capability from / of such assets. Capital work in progress includes the cost of property plant and equipment that are not yet ready for their intended use and the cost of assets not put to use before the Balance Sheet date. (b) Depreciation and amortisation Depreciationiscalculatedoncostofitemsofproperty,plantandequipmentlesstheirestimatedresidualvaluesovertheirestimatedusefullivesusingthewrittendownvaluemethod,andisgenerally recognisedinthestatementofprofitandloss.TheCompanyfollowsestimatedusefulliveswhicharegivenunderPartCoftheScheduleIIoftheCompaniesAct,2013.Leaseholdimprovementsare amortised over the period of lease. Depreciationonadditiontoproperty,plantandequipmentisprovidedonpro-ratabasisfromthedatetheassetsisacquired/installed.Depreciationonsale/deductionfromproperty,plantand equipment is provided for up to the date of sale deduction and discernment as the case may be. Theestimatedusefullifeandamortizationmethodarereviewedattheendofeachreportingperiod,withtheeffectofanychangesinestimatebeingaccountedforonaprospectivebasis.Inrespectof assets whose useful lives has been revised, the unamortized depreciable amount is charged over the revised remaining useful lives of the assets. (c) Derecognition of property, plant and equipment Anitemofproperty,plantandequipmentisderecognisedupondisposalorwhennofutureeconomicbenefitsareexpectedtoarisefromthecontinueduseoftheasset.Anygainorlossarisingonthe disposal or retirement of an item of property, plant and equipment is recognised in profit or loss. 2.9 Intangible assets / Intangible assets under development: (a) Recognition and measurement Intangibleassetswithfiniteusefullivesthatareacquiredseparatelyarecarriedatcostlessaccumulatedamortizationandaccumulatedimpairmentlosses.Amortizationisrecognizedonawrittendown basisovertheirestimatedusefullives.Theestimatedusefullifeandamortizationmethodarereviewedattheendofeachreportingperiod,withtheeffectofanychangesinestimatebeingaccounted foronaprospectivebasis.Intangibleassetswithindefiniteusefullivesthatareacquiredseparatelyarecarriedatcostlessaccumulatedimpairmentlosses.Subsequentexpenditureincurredonassets put to use is capitalised only when it increases the future economic benefits / functioning capability from / of such assets. (b) Derecognition of Intangible assets Anintangibleassetisderecognizedondisposal,orwhennofutureeconomicbenefitsareexpectedfromuseordisposal.Gainsorlossesarisingfromderecognitionofanintangibleasset,measuredas the difference between the net disposal proceeds and the carrying amount of the asset, are recognized in profit or loss when the asset is derecognized. (c) Useful lives of intangible assets Estimated useful lives of the intangible asset for the current and comparative periods are as follows: Computer software: 3 years (d)OtherIndirectExpensesincurredrelatingtoproject,netofincomeearnedduringtheprojectdevelopmentstagepriortoitsintendeduse,areconsideredaspre-operativeexpensesanddisclosed under Intangible Assets Under Development. 2.10 Impairment of non financial assets Attheendofeachreportingperiod,thecompanyreviewsthecarryingamountsofitstangibleandintangibleassetstodeterminewhetherthereisanyindicationthatthoseassetshavesufferedan impairmentloss.Ifanysuchindicationexists,therecoverableamountoftheassetisestimatedinordertodeterminetheextentoftheimpairmentloss(ifany).Whenitisnotpossibletoestimatethe recoverableamountofanindividualasset,theCompanyestimatestherecoverableamountofthecash-generatingunittowhichtheassetbelongs.Whenareasonableandconsistentbasisofallocation canbeidentified,corporateassetsarealsoallocatedtoindividualcash-generatingunits,orotherwisetheyareallocatedtothesmallestgroupofcash-generatingunitsforwhichareasonableand consistent allocation basis can be identified. Recoverableamountisthehigheroffairvaluelesscostsofdisposalandvalueinuse.Inassessingvalueinuse,theestimatedfuturecashflowsarediscountedtotheirpresentvalueusingapre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. Ifrecoverableamountofanasset(orcashgeneratingunit)isestimatedtobelessthanitscarryingamount,suchdeficitisrecognisedimmediatelyinthestatementofprofitandlossasimpairmentloss and the carrying amount of the asset (or cash generating unit) is reduced to its recoverable amount. Anassessmentismadeannuallyastoseeifthereareanyindicationsthatimpairmentlossesrecognizedearliermaynolongerexistormayhavecomedown.Theimpairmentlossisreversed,iftherehas beenachangeintheestimatesusedtodeterminetheasset’srecoverableamountsincethepreviousimpairmentlosswasrecognized.Ifitisso,thecarryingamountoftheassetisincreasedtothelower ofitsrecoverableamountandthecarryingamountthathavebeendetermined,netofdepreciation,hadnoimpairmentlossbeenrecognizedfortheassetinprioryears.Afterareversal,the depreciationchargeisadjustedinfutureperiodstoallocatetheasset’srevisedcarryingamount,lessanyresidualvalue,onasystematicbasisoveritsremainingusefullife.ReversalsofImpairmentloss are recognized in the Statement of Profit and Loss. 15Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V- Material accounting policies and explanatory notes to Restated financial statements (All amounts in Indian Rupees millions, unless otherwise stated) 2.11 Provisions, contingent liabilities and contingent assets: (a) Provisions Provisionsarerecognizedwhenthecompanyhasapresentobligation(legalorconstructive)asaresultofapastevent,itisprobablethatthecompanywillberequiredtosettletheobligation,anda reliable estimate can be made of the amount of the obligation. Provisionismeasuredusingthecashflowsestimatedtosettlethepresentobligationandwhentheeffectoftimevalueofmoneyismaterial,thecarryingamountoftheprovisionisthepresentvalueof those cash flows. Reimbursement expected in respect of expenditure required to settle a provision is recognised only when it is virtually certain that the reimbursement will be received. (b) Contingent liabilities Contingentliabilitiesaredisclosedwhenthereisapossibleobligationarisingfrompastevents,theexistenceofwhichwillbeconfirmedonlybytheoccurrenceornon-occurrenceofoneormore uncertainfutureeventsnotwhollywithinthecontroloftheCompanyorapresentobligationthatarisesfrompasteventswhereitiseithernotprobablethatanoutflowofresourceswillberequiredto settle or a reliable estimate of the amount cannot be made. (c) Contingent assets Contingent assets are not recognized in the financial statements, however they are disclosed when an inflow of economic benefits is probable. 2.12 Share-based payment arrangements: ThestockoptionsgrantedtoemployeespursuanttotheCompany’sStockOptionsSchemes,aremeasuredatthefairvalueoftheoptionsatthegrantdateinaccordancewithINDAS102,Share-based payments.Thefairvalueoftheoptionsistreatedasdiscountandaccountedasemployeecompensationcostoverthevestingperiodonastraight-linebasis.Theamountrecognisedasexpenseineach yearisarrivedatbasedonthenumberofgrantsexpectedtovest.Ifagrantlapsesafterthevestingperiod,thecumulativediscountrecognisedasexpenseinrespectofsuchgrantistransferredtothe general reserve within equity. ThecompanyhasconstitutedanEmployeeStockOptionPlan2016.ThePlanprovidesforgrantofoptionstoemployeesoftheCompanytoacquireequitysharesoftheCompanythatvestinagraded manner and that are to be exercised within a specified period. ThecompanyhasconstitutedanEmployeeStockOptionPlan2020.ThecompanyhastransferredalltheungrantedoptionsunderEmployeeStockOptionPlan2016toEmployeeStockOptionPlan2020 whileoptionsgrantedundertheEmployeeStockOptionPlan2016continuetobegovernedbytheconditionsofEmployeeStockOptionPlan2016.Bothplansprovideforgrantofoptionstoemployees of the Company to acquire equity shares of the Company that vest in a graded manner and that are to be exercised within a specified period. 2.13 Financial instruments: Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument. Financialassetsandfinancialliabilitiesareinitiallymeasuredatfairvalue.Transactioncoststhataredirectlyattributabletotheacquisitionorissueoffinancialassetsandfinancialliabilities(otherthan financialassetsandfinancialliabilitiesatfairvaluethroughprofitorloss)areaddedtoordeductedfromthefairvalueofthefinancialassetsorfinancialliabilities,asappropriate,oninitialrecognition. Transaction costs directly attributable to the acquisition of financial assets or financial liabilities at fair value through profit or loss are recognized immediately in profit or loss. (a) Financial assets Initial recognition and measurement All financial assets are recognized initially at fair value and transaction costs that are attributable to the acquisition of the financial asset are adjusted to the fair value on initial recognition. Subsequent measurement For the purpose of Subsequent measurement, the Company classifies financial assets in following categories: (i) Financial assets at amortized cost (ii) Financial assets at fair value through other comprehensive income (FVTOCI) (iii) Financial assets at fair value through profit or loss (FVTPL) Financial assets shall be measured at amortized cost if both of the following conditions are met: (i) The asset is held within a business model whose objective is to hold assets for collecting contractual cash flows, and (ii) Contractual terms of the asset give rise on specified dates to cash flows that are solely payments of principal and interest (SPPI) on the principal amount outstanding. A financial asset shall be measured at fair value through other comprehensive income if both of the following conditions are met: (i) The asset is held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets; and (ii) Contractual terms of the asset give rise on specified dates to cash flows that are solely payments of principal and interest (SPPI) on the principal amount outstanding. All financial assets not classified as measured at amortized cost or FVTOCI as described above are measured at FVTPL Subsequent measurement of financial assets Financialassetsatamortisedcostaresubsequentlymeasuredatamortisedcostusingeffectiveinterestmethod.Theamortisedcostisreducedbyimpairmentlosses.Interestincome,foreignexchange gains and losses and impairment are recognised in Statement of profit and loss. Any gain and loss on derecognition is recognised in statement of profit and loss. FinancialinvestmentatFVOCIaresubsequentlymeasuredatfairvalue.Interestincomeundereffectiveinterestmethod,foreignexchangegainsandlossesandimpairmentarerecognisedinStatement of profit and loss. Other net gains and losses are recognised in OCI. On derecognition, gains and losses accumulated in OCI are reclassified to statement of profit and loss. Financial assets at FVTPL are subsequently measured at fair value. Net gains and losses, including any interest or dividend income, are recognised in statement of profit and loss. Allotherequityinvestmentsaremeasuredatfairvalue,withvaluechangesrecognisedinProfitandloss,exceptforthoseequityinvestmentsforwhichthecompanyhaselectedtopresentthechanges in fair value through OCI. De-recognition of financial assets TheCompanyderecognisesafinancialassetwhenthecontractualrightstothecashflowsfromthefinancialassetexpire,orittransferstherightstoreceivethecontractualcashflowsinatransactionin whichsubstantiallyalloftherisksandrewardsofownershipofthefinancialassetaretransferredorinwhichtheCompanyneithertransfersnorretainssubstantiallyalloftherisksandrewardsof ownership and does not retain control of the financial asset. 16Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V- Material accounting policies and explanatory notes to Restated financial statements (All amounts in Indian Rupees millions, unless otherwise stated) (b) Financial liabilities Initial recognition and measurement All financial liabilities are recognized initially at fair value and transaction costs that are attributable to the acquisition of the financial liabilities are adjusted to the fair value on initial recognition. Subsequent measurement Subsequenttoinitialrecognition,allliabilitiesaremeasuredatamortizedcostusingtheeffectiveinterestmethodexceptforderivatives,financialliabilitiesdesignatedformeasurementatFVTPLwhich are measured at fair value. De-recognition of financial liabilities Afinancialliabilitiesisde-recognizedwhentheobligationundertheliabilityisdischargedorcancelledorexpires.Whenanexistingfinancialliabilityisreplacedbyanotherfromthesamelenderon substantiallydifferentterms,orthetermsofanexistingliabilityaresubstantiallymodified,suchanexchangeormodificationistreatedasthede-recognitionoftheoriginalliabilityandtherecognitionof a new liability. The difference in the respective carrying amounts is recognized in the statement of profit and loss. Offsetting of financial instruments Afinancialassetandafinancialliabilityisoffsetandpresentedonnetbasisinthebalancesheetwhenthereisacurrentlegallyenforceablerighttoset-offtherecognisedamountsanditisintendedto either settle on net basis or to realise the asset and settle the liability simultaneously. Reclassification of financial assets and liabilities The Company doesn’t reclassify its financial assets and liabilities subsequent to their initial recognition. Modification of financial assets and financial liabilities Financial assets TheCompanyevaluateswhetherthecashflowsfromafinancialassetaremodifiedandthemodifiedassetissubstantiallydifferent.Ifthecashflowsaresubstantiallydifferent,thenthecontractual rights to cash flows from the original financial asset are deemed to have expired. In this case, the original financial asset is derecognised and a new financial asset is recognised at fair value. Incasethecashflowsofthemodifiedassetcarriedatamortisedcostarenotsubstantiallydifferent,thenthemodificationdoesnotresultinderecognitionofthefinancialasset.Inthiscase,the Companyrecalculatesthegrosscarryingamountofthefinancialassetasthepresentvalueoftherenegotiatedormodifiedcontractualcashflowsthatarediscountedatthefinancialasset'soriginal effectiveinterestrateandrecognisestheamountarisingfromadjustingthegrosscarryingamountasmodificationgainorlossinstatementofprofitandloss.Anycostsorfeesincurredadjustthe carryingamountofthemodifiedfinancialassetandareamortisedovertheremainingtermofthemodifiedfinancialasset.Ifsuchamodificationiscarriedoutbecauseoffinancialdifficultiesofthe borrower, then the gain or loss is presented together with impairment losses. In other cases, it is presented as interest income. Financial liabilities TheCompanyderecognisesafinancialliabilitywhenitstermsaremodifiedandthecashflowsofthemodifiedliabilityaresubstantiallydifferent.Inthiscase,anewfinancialliabilitybasedonthe modifiedtermsisrecognisedatfairvalue.Thedifferencebetweenthecarryingamountofthefinancialliabilityextinguishedandthenewfinancialliabilitywithmodifiedtermsisrecognisedinstatement of profit and loss. 2.14 Impairment of Financial instruments InaccordancewithIndAs-109,theCompanyappliesexpectedcreditloss(ECL)modelformeasurementandrecognitionofimpairmentlossoffinancialassetsotherthanthosemeasuredthroughprofit and loss (FVTPL) (a) Expected credit losses are measured through a loss allowance at an amount equal to: The 12-months expected credit losses (expected credit losses that result from those default events on the financial instrument that are possible within 12 months after the reporting date); or Full lifetime expected credit losses (expected credit losses that result from all possible default events over the life of the financial instrument) Both LTECLs (Lifetime expected Credit losses) and 12 months ECLs are calculated on collective basis. (b) Based on the above, the Company categorises its loans into Stage 1, Stage 2 and Stage 3, as described below: Stage 1 Whenloansarefirstrecognised,theCompanyrecognisesanallowancebasedon12monthsECL.Stage1loansincludesthoseloanswherethereisnosignificantincreaseincreditriskobservedandalso includes facilities where the credit risk has been improved and the loan has been reclassified from stage 2 or stage 3. Stage 2 Whenaloanhasshownasignificantincreaseincreditrisksinceorigination,theCompanyrecordsanallowanceforthelifetimeECL.Stage2loansalsoincludesfacilitieswherethecreditriskhas improved and the loan has been reclassified from stage 3 and facilities where the credit risk has been increased due to restructuring and loan has been reclassified from stage 1. Stage 3 Loans considered credit impaired are the loans which are past due for more than 90 days. The Company records an allowance for life time ECL. Definition of Default TheCompanyconsidersafinancialinstrumentasdefaultedandconsidereditasStage3(credit-impaired)forECLcalculationsinallcases,whentheborrowerbecomesmorethan90dayspastdueonits contractual payments. Significant increase in credit risk TheCompanycontinuouslymonitorsallassetssubjecttoECLs.Inordertodeterminewhetheraninstrumentoraportfolioofinstrumentsissubjectto12mECLorLTECL,theCompanyassesseswhether therehasbeenasignificantincreaseincreditrisksinceinitialrecognition.TheCompanyconsidersanexposuretohavesignificantlyincreasedincreditriskwhencontractualpaymentsaremorethan30 days past due. 17Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V- Material accounting policies and explanatory notes to Restated financial statements (All amounts in Indian Rupees millions, unless otherwise stated) (c) Calculation of ECLs The mechanics of ECL calculations are outlined below and the key elements are, as follows: Probability of Default (PD) ProbabilityofDefault(PD)isanestimateofthelikelihoodofdefaultoveragiventimehorizon.Adefaultmayonlyhappenatacertaintimeovertheassessedperiod,ifthefacilityhasnotbeenpreviously derecognised and is still in the portfolio. Exposure at Default (EAD) Exposure at Default (EAD) is an estimate of the exposure at a future default date, taking into account expected changes in the exposure after the reporting date. Loss Given Default (LGD) LossGivenDefault(LGD)isanestimateofthelossarisinginthecasewhereadefaultoccursatagiventime.Itisbasedonthedifferencebetweenthecontractualcashflowsdueandthosethatthe lender would expect to receive, including from the realisation of any collateral. It is usually expressed as a percentage of the EAD. TheCompanyhascalculatedPD,EADandLGDtodetermineimpairmentlossontheportfolioofloans.Ateveryreportingdate,theabovecalculatedPDs,EADandLGDsarereviewedandchangesinthe forward looking estimates are analysed. Forward looking information Whileestimatingtheexpectedcreditlosses,theCompanyreviewsmacro-economicdevelopmentsoccurringintheeconomyandmarketitoperatesin.Onaperiodicbasis,thecompanyanalysesifthere isanyrelationshipbetweenkeyeconomictrendslikeGDP,Unemploymentrates,BenchmarkratessetbytheReserveBankofIndia,inflationetc.withtheestimateofPD,LGDdeterminedbythe Companybasedonitsinternaldata.WhiletheinternalestimatesofPD,LGDratesbytheCompanymaynotbealwaysreflectiveofsuchrelationships,temporaryoverlaysareembeddedinthe methodology to reflect such macro-economic trends reasonably. The mechanics of the ECL method are summarised below: Stage 1 The12monthsECLiscalculatedastheportionofLTECLsthatrepresenttheECLsthatresultfromdefaulteventsonafinancialinstrumentthatarepossiblewithinthe12monthsafterthereportingdate. TheCompanycalculatesthe12monthsECLallowancebasedontheexpectationofadefaultoccurringinthe12monthsfollowingthereportingdate.Theseexpected12-monthsdefaultprobabilitiesare applied to the EAD and multiplied by the expected LGD. Stage 2 Whenaloanhasshownasignificantincreaseincreditrisksinceorigination,theCompanyrecordsanallowancefortheLTECLs.Themechanicsaresimilartothoseexplainedabove,butPDsandLGDsare estimated over the lifetime of the instrument. Stage 3 / Regulatory Stage 3 For loans considered credit-impaired, the Company recognises the lifetime expected credit losses for these loans. The method is similar to that for Stage 2 assets, with the PD set at 100%. (d) Loss allowances for ECL are presented in the statement of financial position as follows: (i) for financial assets measured at amortised cost: as a deduction from the gross carrying amount of the assets; (ii) for debt instruments measured at FVTOCI: no loss allowance is recognised in Balance Sheet as the carrying amount is at fair value. (e) Write offs LoansanddebtsecuritiesarewrittenoffwhentheCompanyhasnoreasonableexpectationsofrecoveringthefinancialasset(eitherinitsentiretyoraportionofit).ThisisthecasewhentheCompany determinesthattheborrowerdoesnothaveassetsorsourcesofincomethatcouldgeneratesufficientcashflowstorepaytheamountssubjecttothewrite-off.Awrite-offconstitutesaderecognition event. The Company may apply enforcement activities to financial assets written off. Recoveries resulting from the Company’s enforcement activities will result in impairment gains. 2.15 Derivative financial instruments TheCompanyentersintoderivativefinancialinstruments,primarilyforeignexchangeforwardcontracts,currencyswapsandinterestrateswaps,tomanageitsborrowingexposuretoforeignexchange andinterestraterisks. Derivativesembeddedinnon-derivativehostcontractsaretreatedasseparatederivativeswhentheirrisksandcharacteristicsarenotcloselyrelatedtothoseofthehost contractsandthehostcontractsarenotmeasuredatFVTPL. Derivativesareinitiallyrecognisedatfairvalueatthedatethecontractsareenteredintoandaresubsequentlyremeasuredtotheirfair value at the end of each reporting period. The resulting gain/loss is recognised in statement of profit and loss. Hedge accounting TheCompanymakesuseofderivativeinstrumentstomanageexposurestointerestrateandforeigncurrency.Inordertomanageparticularrisks,theCompanyapplieshedgeaccountingfortransactions that meet specified criteria. Hedges that meet the criteria for hedge accounting are accounted for, as described below: Fairvaluehedgestheexposuretochangesinthefairvalueofarecognisedassetorliability,oranidentifiedportionofsuchanasset,liability,thatisattributabletoaparticularriskandcouldaffectprofit or loss. Fordesignatedandqualifyingfairvaluehedges,thecumulativechangeinthefairvalueofahedgingderivativeisrecognisedinthestatementofprofitandlossinnetgain/(loss)onfairvaluechanges. Meanwhile,thecumulativechangeinthefairvalueofthehedgeditemattributabletotheriskhedgedisrecordedaspartofthecarryingvalueofthehedgediteminthebalancesheetandisalso recognised in the statement of profit and loss in net gain/(loss) on fair value changes. 2.16 Fair value measurement Fairvalueisthepriceatthemeasurementdate,atwhichanassetcanbesoldorpaidtotransferaliability,inanorderlytransactionbetweenmarketparticipantsatthemeasurementdate.The Company’saccountingpoliciesrequire,measurementofcertainfinancial/non-financialassetsandliabilitiesatfairvalues(eitheronarecurringornon-recurringbasis).Also,thefairvaluesoffinancial instrumentsmeasuredatamortizedcostarerequiredtobedisclosedinthesaidfinancialstatements.TheCompanyisrequiredtoclassifythefairvaluationmethodofthefinancial/non-financialassets andliabilities,eithermeasuredordisclosedatfairvalueinthefinancialstatements,usingathreelevelfair-value-hierarchywhichreflectsthesignificanceofinputsusedinthemeasurement). Accordingly,theCompanyusesvaluationtechniquesthatareappropriateinthecircumstancesandforwhichsufficientdataisavailabletomeasurefairvalue,maximizingtheuseofrelevantobservable inputs and minimizing the use of unobservable inputs. All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorized within the fair value hierarchy described as follows: (a) Level 1 financial instruments ThosewheretheinputsusedinthevaluationareunadjustedquotedpricesfromactivemarketsforidenticalassetsorliabilitiesthattheCompanyhasaccesstoatthemeasurementdate.TheCompany considersmarketsasactiveonlyiftherearesufficienttradingactivitieswithregardstothevolumeandliquidityoftheidenticalassetsorliabilitiesandwhentherearebindingandexercisableprice quotes available on the balance sheet date. 18Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V- Material accounting policies and explanatory notes to Restated financial statements (All amounts in Indian Rupees millions, unless otherwise stated) (b) Level 2 financial instruments Those where the inputs that are used for valuation and are significant, are derived from directly or indirectly observable market data available over the entire period of the instrument’s life. (c) Level 3 financial instruments Include one or more unobservable input where there is little market activity for the asset/liability at the measurement date that is significant to the measurement as a whole. 2.17 Significant management judgements in applying accounting policies and estimation uncertainty Thepreparationoffinancialstatementsrequirestheuseofaccountingestimateswhich,bydefinition,willseldomequaltheactualresults.Managementalsoneedstoexercisejudgementinapplyingthe Company’saccountingpolicy. Thisnoteprovidesanoverviewoftheareasthatinvolvedahigherdegreeofjudgementorcomplexity,andofitemswhicharemorelikelytobemateriallyadjusteddueto estimatesandassumptionsturningouttobedifferentthanthoseoriginallyassessed.Detailedinformationabouteachoftheseestimatesandjudgementsisincludedinrelevantnotestogetherwith information about the basis of calculation for each affected line item in the financial statements. The following are significant management estimation/uncertainty and judgement in applying the accounting policies of the Company that have the most significant effect on the financial statements: Defined benefit obligation Managementestimatesoftheseobligationisbasedonanumberofcriticalunderlyingassumptionssuchasstandardratesofinflation,mortality,discountrateandanticipationoffuturesalaryincreases. Variation in these assumptions may significantly impact the defined benefit obligation amount and the annual defined benefit expenses. Business model assessment Classificationandmeasurementoffinancialassetsdependsontheresultsofbusinessmodelandthesolelypaymentsofprincipalandinterest("SPPI")test.TheCompanydeterminesthebusinessmodel atalevelthatreflectshowgroupsoffinancialassetsaremanagedtogethertoachieveaparticularbusinessobjective.Thisassessmentincludesjudgementreflectingallrelevantevidenceincludinghow theperformanceoftheassetsisevaluatedandtheirperformancemeasured,therisksthataffecttheperformanceoftheassetsandhowthesearemanagedandhowthemanagersoftheassetsare compensated.TheCompanymonitorsfinancialassetsmeasuredatamortisedcostthatarederecognisedpriortotheirmaturitytounderstandthereasonfortheirdisposalandwhetherthereasonsare consistentwiththeobjectiveofthebusinessforwhichtheassetwasheld.MonitoringispartoftheCompany’scontinuousassessmentofwhetherthebusinessmodelforwhichtheremainingfinancial assets are held continues to be appropriate and if it is not appropriate whether there has been a change in business model and so a prospective change to the classification of those assets. Fairvalueoffinancialinstruments:Thefairvalueoffinancialinstrumentsisthepricethatwouldbereceivedtosellanassetorpaidtotransferaliabilityinanorderlytransactionintheprincipal(ormost advantageous)marketatthemeasurementdateundercurrentmarketconditions(i.e.anexitprice)regardlessofwhetherthatpriceisdirectlyobservableorestimatedusinganothervaluation technique.Whenthefairvaluesoffinancialassetsandfinancialliabilitiesrecordedinthebalancesheetcannotbederivedfromactivemarkets,theyaredeterminedusingavarietyofvaluation techniquesthatincludetheuseofvaluationmodels.Theinputstothesemodelsaretakenfromobservablemarketswherepossible,butwherethisisnotfeasible,estimationisrequiredinestablishing fair values. EffectiveInterestRate(EIR)method:TheCompanyrecognizesinterestincome/expenseusingarateofreturnthatrepresentsthebestestimateofaconstantrateofreturnovertheexpectedlifeof theloansgiven/taken.Thisestimation,bynature,requiresanelementofjudgementregardingtheexpectedbehaviourandlife-cycleoftheinstruments,aswellasexpectedchangestootherfee income/expense that are integral parts of the instrument. Recognition of deferred tax assets The extent to which deferred tax assets can be recognized is based on an assessment of the probability of the Company’s future taxable income against which the deferred tax assets can be utilized. Property, plant and equipment Measurement of useful life and residual values of property, plant and equipment and useful life of intangible assets. Evaluation of indicators for impairment of assets The evaluation of applicability of indicators of impairment of assets requires assessment of several external and internal factors which could result in deterioration of recoverable amount of the assets. Contingent liabilities Ateachbalancesheetdatebasisthemanagementjudgment,changesinfactsandlegalaspects,theCompanyassessestherequirementofprovisionsagainsttheoutstandingcontingentliabilities. However the actual future outcome may be different from this judgement. Impairment of financial assets Ateachbalancesheetdate,basedonhistoricaldefaultratesobservedoverexpectedlife,themanagementassessestheexpectedcreditlossesonoutstandingreceivablesandadvances.TheCompany’s expected credit loss ("ECL") calculations are outputs of complex models with a number of underlying assumptions regarding the choice of variable inputs and their interdependencies. Theseestimatesandjudgementsarebasedonhistoricalexperienceandotherfactors,includingexpectationsoffutureeventsthatmayhaveafinancialimpactontheCompanyandthatarebelievedto be reasonable under the circumstances. Management believes that the estimates used in preparation of the standalone financial statements are prudent and reasonable. Determination of lease term IndAS116Leasesrequireslesseetodeterminetheleasetermasthenon-cancellableperiodofaleaseadjustedwithanyoptiontoextendorterminatethelease,iftheuseofsuchoptionisreasonably certain.TheCompanymakesassessmentontheexpectedleasetermonleasebyleasebasisandtherebyassesseswhetheritisreasonablycertainthatanyoptionstoextendorterminatethecontract willbeexercised.Inevaluatingtheleaseterm,theCompanyconsidersfactorssuchasanysignificantleaseholdimprovementsundertakenovertheleaseterm,costsrelatingtotheterminationoflease andtheimportanceoftheunderlyingtotheCompany’soperationstakingintoaccountthelocationoftheunderlyingassetandtheavailabilityofthesuitablealternatives.Theleaseterminfuture periods is reassessed to ensure that the lease term reflects the current economic circumstances. Discount rate for lease liability Thediscountrateisgenerallybasedontheincrementalborrowingratespecifictotheleasebeingevaluatedorforaportfolioofleaseswithsimilarcharacteristics.Anddiscountrateofsecuritydeposits is generally based on the SBI deposit rate at the time of deposit. Fair value of share-based payments Estimatingfairvalueforshare-basedpaymenttransactionsrequiresdeterminationofthemostappropriatevaluationmodel,whichdependsonthetermsandconditionsofthegrant.Thisestimatealso requiresdeterminationofthemostappropriateinputstothevaluationmodelincludingtheexpectedlifeoftheshareoptionorappreciationright,volatilityanddividendyieldandmakingassumptions about them. For the measurement of the fair value of equity-settled transactions with employees at the grant date, the Company uses a Black-Scholes model. 19Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) As at As at As at As at As at 3 Cash and cash equivalents June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Cash on hand 99.39 98.91 112.40 92.02 49.31 Balances with banks: On current accounts 4,154.85 2,821.99 4,048.73 2,271.41 373.66 Deposit with original maturity of less than three months 6,010.00 6,403.67 5,150.45 2,902.46 2,303.32 1 0,264.24 9 ,324.57 9 ,311.58 5 ,265.89 2 ,726.29 Note (1): Cash in hand includes balance in prepaid cards obtained by Company for its routine expenses from the banks. Note(2):Balanceswithbanksincurrentaccountsdonotearnanyinterest.Short-termdepositsaremadeforvaryingperiodsofbetweenonedayandthreemonths,dependingupontheimmediatecash requirements of the Company, and earn interest at the respective short-term deposit rates. As at As at As at As at As at 4 Bank balances other than cash and cash equivalents June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Fixed deposit with balance maturity for more than three months 591.89 21.38 577.80 463.43 50.00 Balances with banks to the extent held as margin money or security against borrowing, guarantees and other commitments Balance held as security against borrowings 71.31 66.07 70.10 65.07 373.99 Balance held as security against securitisation 1,587.15 1,752.07 1,419.41 1,508.20 790.17 2 ,250.35 1 ,839.52 2 ,067.31 2 ,036.70 1 ,214.16 Note: Fixed deposits and margin money deposits with banks earns interest at fixed rates or floating rates based on daily bank deposit rates. As at As at As at As at As at 5 Loan portfolio June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 At Amortised cost: Revolving working capital - - - - 0.10 Term loans 53,320.32 44,177.27 51,573.32 41,296.60 26,056.88 Staff loan 59.30 39.04 55.62 37.39 32.23 Total - Gross 5 3,379.62 4 4,216.31 51,628.94 4 1,333.99 2 6,089.21 Less: Impairment loss allowance 2,318.03 1,512.69 2,121.51 1,302.75 534.78 Less: Impairment loss allowance - Staff loans 6.00 - 5.30 - - Total - Net 5 1,055.59 4 2,703.62 4 9,502.13 4 0,031.24 2 5,554.43 (A) Based on security (I) Secured 31,123.32 25,593.34 29,599.90 24,742.10 17,927.40 Secured against mortgage of property 8 ,901.39 5 ,135.47 7 ,660.12 4 ,537.50 1 ,669.59 Secured against hypothecation of Inventory, Stock etc. 2 2,221.93 2 0,457.87 2 1,939.78 20,204.60 16,257.81 (II) Unsecured 22,256.30 18,622.97 22,029.04 16,591.89 8,161.81 Total (A) Gross 5 3,379.62 4 4,216.31 5 1,628.94 41,333.99 26,089.21 Less: Impairment loss allowance 2,324.03 1,512.69 2,126.81 1 ,302.75 5 34.78 Total (A) Net 5 1,055.59 4 2,703.62 4 9,502.13 40,031.24 25,554.43 (B) Based on region (I) Loans in India (i) Public sector - - - - - (ii) Others 53,379.62 44,216.31 51,628.94 4 1,333.99 2 6,089.21 Total (B) (I) Gross 5 3,379.62 4 4,216.31 5 1,628.94 41,333.99 26,089.21 Less: Impairment loss allowance 2,324.03 1,512.69 2,126.81 1 ,302.75 5 34.78 Total (B) (I) Net 5 1,055.59 4 2,703.62 4 9,502.13 40,031.24 25,554.43 (II) Loans outside India Less: Impairment loss allowance - - - - - Total (B) (II) Net - - - - - Total (B) (I) and (B) (II) Net 5 1,055.59 4 2,703.62 4 9,502.13 40,031.24 25,554.43 Note: FortheperiodendedJune30,2025,managementoverlayofRs.255.00millions(June30,2024Rs.255.51millions,March31,2025Rs.255.00millions,March31,2024Rs.200.10millionsandMarch31, 2023Rs.NilisconsideredinStage3oftheHypothecatedPortfolio,asanadditionalprovision,tofactorfuturecontingencyandchangeinmarketconditionsbasistheriskperceivedandasamatterof prudence. 20Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) As at As at As at As at As at 6 Investments June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Investments measured at fair value through profit or loss Mutual funds - - - - 585.10 Security receipts ARCIL - trust 355.90 157.04 369.74 157.09 308.00 Less: Impairment loss / Written off 325.71 51.00 341.51 51.00 51.00 Investments carried at Fair value through Profit or loss 3 0.19 106.04 2 8.23 106.09 842.10 Investment in subsidiary at cost (unquoted) 249,999 equity shares of RS 10 in Foundation for Advancement of Micro 2.50 2.50 2.50 2.50 2.50 Enterprises (FAME) (A) Provision on investments (B)* 2.50 2.50 2.50 2.50 - Investment in subsidiary at cost (unquoted) (A-B) - - - - 2.50 Investments measured at amortised cost Pass through certificates 629.47 172.94 389.40 - - Investment in Treasury Bill 49.71 - - - - Gross investments 1,037.58 332.48 761.64 159.59 895.60 Based on region: Investments outside India - - - Investments in India 1,037.58 332.48 761.64 159.59 895.60 1,037.58 332.48 761.64 159.59 895.60 Less: Allowance for impairment loss 328.21 53.50 344.01 53.50 51.00 709.37 2 78.98 4 17.63 106.09 844.60 *Duringthefinancialyear2019-20,theCompanyhadsubscribed2,49,999equitysharesofRs.10/-eachofFoundationforAdvancementofMicroEnterprises(FAME)(aSection8-Companyasper CompaniesAct2013)}.FoundationforAdvancementofMicroEnterprises(FAME)becameasubsidiaryoftheCompanyw.e.f.04/04/2019byvirtueofholding2,49,999equitysharesequivalentto99.99% sharecapitalinFoundationforAdvancementofMicroEnterprises(FAME).FoundationforAdvancementofMicroEnterprises(FAME)isprohibitedtodistributeanydividend/economicbenefitstoits members;hencetheCompanyisunabletoearnanyvariablereturn/economicbenefitsfromthevotingrightsthroughitsholdinginequitysharesofFoundationforAdvancementofMicroEnterprises (FAME).Accordingly,theaboveinvestmentdoesnotmeetthedefinitionofcontrolunderIndianAccountingStandard(IndAS)110-ConsolidatedFinancialStatementsandtheaforesaidinvestmentvalue of Rs. 2.5 millions has been impaired to the Statement of profit and loss for the year ended March 31, 2024. As at As at As at As at As at 7 Other financial assets (at amortised cost) June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Receivable from insurance company 39.52 42.84 55.57 38.70 17.40 Security deposits 40.43 32.58 38.06 30.60 26.64 Other receivables 663.59 320.46 512.43 237.25 184.08 7 43.54 3 95.88 6 06.06 3 06.55 2 28.12 As at As at As at As at As at 8 Current tax assets / (liabilities) June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Current tax asset (Net) 157.14 104.00 184.11 82.77 40.69 157.14 104.00 184.11 82.77 40.69 Current Tax liability (Net) (83.92) (0.03) (45.76) - - (83.92) (0.03) (45.76) - - As at As at As at As at As at 9 Deferred tax assets (Net) June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Deferred tax assets (net) 642.80 491.05 609.78 439.37 293.35 6 42.80 4 91.05 6 09.78 4 39.37 2 93.35 21Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) 10A Property, plant and equipment Gross carrying amount Accumulated depreciation Net carrying amount Particulars As at As at As at Depreciation for As at As at Additions Disposals Adjustments Disposals Adjustments April 01, 2025 June 30, 2025 April 01, 2025 the period June 30, 2025 June 30, 2025 Furniture and fixtures 2 4.74 0 .02 0 .19 - 2 4.57 2 0.88 0 .24 0 .17 - 2 0.95 3 .62 Office equipments 3 8.38 4 .65 0 .34 - 4 2.69 2 5.66 1 .52 0 .31 - 2 6.87 1 5.82 Electrical installations and equipments 2 0.38 3 .69 0 .11 - 2 3.96 9 .45 0 .80 0 .10 - 1 0.15 1 3.81 Computers 2 56.79 6 .24 - - 2 63.03 1 71.35 1 3.80 - - 1 85.15 7 7.88 Leasehold improvements 2 2.26 2 .66 - - 2 4.92 1 4.17 1 .07 - - 1 5.24 9 .68 362.55 1 7.26 0.64 - 379.17 241.51 17.43 0 .58 - 258.36 120.81 Gross carrying amount Accumulated depreciation Net carrying amount Particulars As at As at As at Depreciation for As at As at Additions Disposals Adjustments Disposals Adjustments April 01, 2024 June 30, 2024 April 01, 2024 the period June 30, 2024 June 30, 2024 Furniture and fixtures 2 4.79 - 0 .08 - 2 4.71 1 9.73 0 .31 0 .08 - 1 9.96 4 .75 Office equipments 3 1.57 1 .61 0 .27 - 3 2.91 2 0.47 1 .33 0 .22 - 2 1.58 1 1.33 Electrical installations and equipments 1 1.88 2 .99 0 .02 - 1 4.85 6 .85 0 .43 0 .01 - 7 .27 7 .58 Computers 1 81.45 1 3.43 0 .08 - 1 94.80 1 13.93 1 1.73 0 .03 - 1 25.63 6 9.17 Leasehold improvements 1 0.00 6 .25 - - 1 6.25 9 .09 1 .01 - - 1 0.10 6 .15 259.69 2 4.28 0.45 283.52 170.07 14.81 0 .34 - 184.54 98.98 Particulars Gross carrying amount Accumulated depreciation Net carrying amount As at As at As at Depreciation for As at As at Additions Disposals Adjustments Disposals Adjustments April 01, 2024 March 31, 2025 April 01, 2024 the year March 31, 2025 March 31, 2025 Furniture and fixtures 2 4.79 0.09 0.14 - 2 4.74 1 9.73 1 .25 0.10 - 2 0.88 3 .86 Office equipments 3 1.57 7.92 1.11 - 3 8.38 2 0.47 6 .25 1.06 - 2 5.66 1 2.72 Electrical installations and equipments 1 1.88 8.54 0.04 - 2 0.38 6 .85 2 .62 0.02 - 9 .45 1 0.93 Computers 1 81.45 8 8.84 1 3.50 - 2 56.79 1 13.93 70.11 1 2.69 - 1 71.35 8 5.44 Leasehold improvements 1 0.00 1 2.26 - - 2 2.26 9 .09 5 .08 - - 1 4.17 8 .09 259.69 117.65 1 4.79 - 362.55 170.07 85.31 13.87 - 241.51 121.04 Gross carrying amount Accumulated depreciation Net carrying amount Particulars As at As at As at Depreciation for As at As at Additions Disposals Adjustments Disposals Adjustments April 01, 2023 March 31, 2024 01 April, 2023 the year March 31, 2024 March 31, 2024 Furniture and fixtures 2 1.90 0.30 0.05 2.64 2 4.79 1 5.50 1 .62 0.03 2.64 1 9.73 5 .06 Office equipments 2 8.67 6.24 5.84 2.50 3 1.57 1 8.01 5 .36 5.40 2.50 2 0.47 1 1.10 Electrical installations and equipments 9 .60 1.68 - 0.60 1 1.88 5 .00 1 .25 - 0.60 6 .85 5 .03 Computers 1 11.49 7 0.67 8.21 7.50 1 81.45 7 9.90 34.43 7.90 7.50 1 13.93 6 7.52 Leasehold improvements 9 .80 - - 0.20 1 0.00 8 .40 0 .49 - 0.20 9 .09 0 .91 181.46 7 8.89 1 4.10 1 3.44 259.69 126.81 43.15 13.33 1 3.44 170.07 89.61 22Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) Gross carrying amount Accumulated depreciation Net carrying amount Particulars As at As at As at Depreciation for As at As at Additions Disposals Adjustments Disposals Adjustments April 01, 2022 March 31, 2023 April 01, 2022 the year March 31, 2023 March 31, 2023 Furniture and fixtures 2 1.90 - - - 2 1.90 1 3.30 2 .20 - - 1 5.50 6 .40 Office equipments 2 3.10 6 .17 0 .60 - 2 8.67 1 3.50 5 .11 0 .60 - 1 8.01 1 0.66 Electrical installations and equipments 9 .10 0 .50 - - 9 .60 3 .50 1 .50 - - 5 .00 4 .60 Computers 8 6.00 3 0.19 4 .70 - 1 11.49 6 4.50 1 9.80 4 .40 - 7 9.90 3 1.59 Leasehold improvements 9 .80 - - - 9 .80 7 .30 1 .10 - - 8 .40 1 .40 149.90 3 6.86 5.30 - 181.46 102.10 29.71 5 .00 - 126.81 54.65 10B Intangible assets Gross carrying amount Accumulated amortisation Net carrying amount Particulars As at As at As at Depreciation for As at As at Additions Disposals Adjustments Disposals Adjustments April 01, 2025 June 30, 2025 April 01, 2025 the period June 30, 2025 June 30, 2025 Computer software 9 6.35 1 1.65 - - 1 08.00 7 3.85 3 .71 - - 7 7.56 3 0.44 96.35 1 1.65 - - 108.00 7 3.85 3.71 - - 7 7.56 30.44 Gross carrying amount Accumulated amortisation Net carrying amount Particulars As at As at As at Depreciation for As at As at Additions Disposals Adjustments Disposals Adjustments April 01, 2024 June 30, 2024 April 01, 2024 the period June 30, 2024 June 30, 2024 Computer software 6 2.75 3 2.12 - - 9 4.87 4 9.55 3 .78 - - 5 3.33 4 1.54 62.75 3 2.12 - - 9 4.87 4 9.55 3.78 - - 5 3.33 41.54 Gross carrying amount Accumulated amortisation Net carrying amount Particulars As at As at As at Depreciation for As at As at Additions Disposals Adjustments Disposals Adjustments April 01, 2024 March 31, 2025 April 01, 2024 the year March 31, 2025 March 31, 2025 Computer software 6 2.75 3 3.60 - - 96.35 49.55 24.30 - - 73.85 22.50 62.75 3 3.60 - - 9 6.35 4 9.55 24.30 - - 7 3.85 22.50 Gross carrying amount Accumulated amortisation Net carrying amount Particulars As at As at As at Depreciation for As at As at Additions Disposals Adjustments Disposals Adjustments April 01, 2023 March 31, 2024 April 01, 2023 the year March 31, 2024 March 31, 2024 Computer software 5 0.45 1 2.30 1 .40 1 .40 6 2.75 4 4.86 7 .70 1 .31 ( 1.70) 4 9.55 1 3.20 50.45 1 2.30 1.40 1.40 6 2.75 4 4.86 7.70 1 .31 ( 1.70) 4 9.55 13.20 Gross carrying amount Accumulated amortisation Net carrying amount Particulars As at As at As at Depreciation for As at As at Additions Disposals Adjustments Disposals Adjustments April 01, 2022 March 31, 2023 April 01, 2022 the year March 31, 2023 March 31, 2023 Computer software 4 7.00 3 .45 - - 5 0.45 3 3.30 1 1.56 - - 4 4.86 5 .50 47.00 3.45 - - 5 0.45 3 3.30 11.56 - - 4 4.86 5 .50 23Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) 10C Right of use assets (ROU) Carrying value of Right of Use Assets Particulars Buildings Total Balance at April 1, 2025 262.65 262.65 Additions 58.84 58.84 Deletions / Adjustments (3.61) (3.61) Depreciation charge for the period (29.85) (29.85) Balance at June 30, 2025 288.03 288.03 Balance at April 1, 2024 214.31 214.31 Additions 62.29 62.29 Deletions / Adjustments (0.90) (0.90) Depreciation charge for the period (26.42) (26.42) Balance at June 30, 2024 249.28 249.28 Balance at April 1, 2022 205.80 205.80 Additions 8 3.40 8 3.40 Deletions / Adjustments ( 4.50) ( 4.50) Depreciation charge for the year ( 73.20) ( 73.20) Balance at March 31, 2023 211.50 211.50 Additions 112.01 112.01 Deletions / Adjustments (14.61) (14.61) Depreciation charge for the year (94.59) (94.59) Balance at March 31, 2024 214.31 214.31 Additions 198.20 198.20 Deletions / Adjustments (37.86) (37.86) Depreciation charge for the year (112.00) (112.00) Balance at March 31, 2025 262.65 262.65 24Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) As at As at As at As at As at 11 Other non-financial assets June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 TDS recoverable - 0.09 - 0.08 0.10 Goods and service tax receivable - - - - 7.80 Prepaid expenses 176.79 40.23 152.89 33.11 25.20 Employees advances 9.00 4.79 6.74 3.99 3.90 Others 74.26 88.78 78.15 43.49 14.30 2 60.05 1 33.89 2 37.78 8 0.67 5 1.30 As at As at As at As at As at 12 Derivative financial instruments June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Carried at fair value [Assets Cross currency swap rate contract not designated in hedge 99.37 - 2.41 - 30.70 accounting relationship 9 9.37 - 2 .41 - 3 0.70 Carried at fair value (Liability) Cross currency swap rate contract not designated in - (44.84) - ( 31.52) - hedge accounting relationship - ( 44.84) - ( 31.52) - As at As at As at As at As at 13 Debt securities (at amortised cost) June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Redeemable non-convertible debentures Secured 1 4,257.03 1 2,395.44 1 4,077.48 9,126.44 7,719.20 Unsecured 7 2.81 1,088.70 103.81 1,096.99 1,279.30 1 4,329.84 1 3,484.14 1 4,181.29 10,223.43 8 ,998.50 Based on region: Debt securities in India 1 4,329.84 1 3,484.14 1 4,181.29 1 0,223.43 8 ,998.50 Debt securities outside India - - - - 1 4,329.84 1 3,484.14 1 4,181.29 10,223.43 8 ,998.50 Note: Refer Note 13(i) for the repayment details along with rate of interest and security details. 25Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) 13(i) Details of terms of repayment for the other long-term borrowings and security provided in respect of the secured other long-term borrowings As at As at As at As at As at Particulars June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Redemption Interest ISIN Issuance Date Secured Unsecured Secured Unsecured Secured Unsecured Secured Unsecured Secured Unsecured Date Rate INE501X08065 29-Mar-22 30-Apr-23 11.25% - - - - - - - - - 1 00.00 INE501X07190 22-May-20 22-May-23 13.50% - - - - - - - - 1 3.80 - INE501X07042 29-Aug-17 29-Aug-23 13.47% - - - - - - - - 4 40.00 - and 13.55% INE501X07240 02-Sep-21 07-Sep-23 9.68% - - - - - - - - 5 00.00 - INE501X07273 25-Mar-22 25-Sep-23 9.50% - - - - - - - - 1 50.00 - INE501X07141 25-Oct-19 25-Oct-23 10.78% - - - - - - - - 9 37.50 - INE501X07307 05-Sep-22 05-Mar-24 9.75% - - - - - - - - 5 00.00 - INE501X08032 06-Mar-19 06-Mar-24 12.14% - - - - - - - - - 2 00.00 INE501X07265 24-Mar-22 24-Mar-24 10.70% - - - - - - - - 1 25.00 - INE501X07281 25-Mar-22 25-Mar-24 9.90% - - - - - - - - 1 50.00 - INE501X07323 28-Sep-22 27-Mar-24 10.50% - - - - - - - - 2 50.00 - INE501X07372 24-Jan-23 25-Apr-24 10.50% - - - - - - 1 00.00 - 5 00.00 - INE501X07232 08-Dec-20 13-May-24 10.70% - - - - - - 0 .10 - 0 .10 - INE501X07414 05-Dec-22 05-Jun-24 10.00% - - - - - - 1 ,000.00 - 1 ,000.00 - INE501X07422 11-Apr-23 25-Jul-24 10.59% - - 6 0.00 - - - 1 20.00 - - - INE501X07166 07-Nov-19 08-Nov-24 12.50% - - 0 .04 - - - 0 .10 - - - INE501X07463 08-Aug-23 08-Dec-24 10.60% - - 1 50.00 - - - 2 25.00 - - - INE501X08073 13-Dec-22 31-Dec-24 12.70% - - - 1 17.00 - - - 1 17.00 - 2 34.00 INE501X07448 26-Jul-23 26-Jan-25 10.60% - - 1 25.01 - - - 1 66.60 - - - INE501X07455 02-Aug-23 02-Feb-25 10.50% - - 1 25.00 - - - 1 66.60 - - - INE501X07471 25-Aug-23 25-Feb-25 10.50% - - 2 33.33 - - - 2 33.30 - - - INE501X07489 04-Sep-23 04-Mar-25 8.60% - - 4 00.00 - - - 4 00.00 - - - INE501X07497 14-Sep-23 14-Mar-25 9.00% - - 2 00.00 - - - 2 66.70 - - - INE501X08057 28-Feb-22 15-Mar-25 11.35% - - - 3 75.00 - - - 3 75.00 - 3 75.00 INE501X08057 28-Feb-22 15-Mar-25 11.35% - - - 3 75.00 - - - 3 75.00 - 3 75.00 INE501X07406 24-Mar-23 31-Mar-25 10.70% - - 1 69.00 - - - 1 69.00 - 3 38.00 - INE501X07430 18-May-23 30-Apr-25 10.70% - - 1 86.00 - 9 3.00 - 2 79.14 - - - INE501X07380 08-Feb-23 08-May-25 11.25% - - 6 6.67 - 1 6.67 - 8 3.30 - 1 50.00 - INE501X07257 15-Nov-21 13-May-25 10.20% - - 0 .02 - 0 .02 - 0 .10 - 2 22.20 - INE501X07398 15-Feb-23 15-May-25 11.25% - - 1 20.00 - 3 0.00 - 1 50.00 - 2 70.00 - INE501X07125 31-May-19 26-Jun-25 13.00% - - 2 62.50 - 2 62.50 - 2 62.50 - 2 62.50 - INE501X07364 06-Dec-22 31-Jul-25 12.55% 1 00.00 - 1 00.00 - 1 00.00 - 1 00.00 - 1 50.00 - INE501X07547 23-Feb-24 23-Aug-25 9.50% 5 00.00 - 5 00.00 - 5 00.00 - 5 00.00 - - - INE501X07505 25-Sep-23 31-Aug-25 10.75% 1 25.00 - 3 75.00 - 1 25.00 - 3 75.00 - - - INE501X07513 27-Sep-23 27-Sep-25 11.00% 3 1.25 - 1 56.25 - 6 2.50 - 1 87.50 - - - INE501X07562 22-Mar-24 07-Oct-25 9.50% 5 00.00 - 5 00.00 - 5 00.00 - 5 00.00 - - - INE501X08081 24-Jan-24 24-Jan-26 11.60% - 7 2.90 - 1 97.91 - 1 04.16 - 2 29.19 - - INE501X07612 25-Jul-24 25-Jan-26 10.60% 5 00.00 - - - 5 00.00 - - - - - INE501X07554 06-Mar-24 06-Mar-26 10.75% 4 50.00 - 9 00.00 - 4 50.00 - 9 00.00 - - - INE501X07604 20-Jun-24 20-Mar-26 10.25% 1 ,250.00 - 1 ,250.00 - 1 ,250.00 - - - - - INE501X07620 28-Aug-24 28-Aug-26 10.50% 4 68.75 - - - 5 62.50 - - - - - INE501X07539 24-Nov-23 15-Sep-26 11.15% 5 00.00 - 5 00.00 - 5 00.00 - 500.00 - - - INE501X07588 17-May-24 17-Nov-26 10.50% 2 50.00 - 2 50.00 - 2 50.00 - - - - - INE501X07653 31-Dec-24 31-Dec-26 9.95% 2 50.00 - - - 2 50.00 - - - - - INE501X07661 20-Mar-25 20-Mar-27 9.95% 8 00.00 - - - 8 00.00 - - - - - INE501X07570 30-Apr-24 30-Apr-27 10.50% 5 10.00 - 5 10.00 - 5 10.00 - - - - - INE501X07570 13-Jun-24 30-Apr-27 10.50% 4 90.00 - 4 90.00 - 4 90.00 - - - - - INE501X07703 30-Jun-25 30-Jun-27 10.25% 5 00.00 - - - - - - - - - INE501X07299 28-Jul-22 28-Jul-27 11.16% 3 10.00 - 3 10.00 - 3 10.00 - 3 10.00 - 3 10.00 - INE501X07315 20-Sep-22 20-Sep-27 11.20% 2 60.00 - 2 60.00 - 2 60.00 - 260.00 - 2 60.00 - INE501X07638 09-Oct-24 09-Oct-27 10.50% 7 50.00 - - - 7 50.00 - - - - - INE501X07349 15-Nov-22 15-Nov-27 11.20% 3 10.00 - 3 10.00 - 3 10.00 - 310.00 - 3 10.00 - INE501X07679 20-Mar-25 20-Dec-27 10.35% 4 00.00 - - - 4 00.00 - - - - - INE501X07646 31-Dec-24 31-Dec-27 10.10% 6 61.11 - - - 8 50.00 - - - - - INE501X07331 13-Sep-22 08-Mar-28 11.00% 3 27.25 - 3 27.25 - 3 27.25 - 3 27.25 - 3 27.25 - INE501X07331 13-Sep-22 08-Mar-28 11.00% 3 27.25 - 3 27.25 - 3 27.25 - 3 27.25 - 3 27.25 - INE501X07695 30-Jun-25 30-Mar-28 10.40% 2 50.00 - - - - - - - - - INE501X07687 20-Jun-25 17-Apr-29 11.00% 2 00.00 - - - - - - - - - INE501X07596 31-May-24 30-May-29 11.30% 2 ,490.00 - 2 ,490.00 - 2 ,490.00 - - - - - INE501X07521 29-Sep-23 27-Sep-29 11.60% 7 65.00 - 7 65.00 - 7 65.00 - 7 65.00 - - - 1 4,275.61 7 2.90 1 2,418.32 1 ,064.91 1 4,041.79 1 04.16 8 ,984.44 1 ,096.19 7 ,493.60 1 ,284.00 Accrued Interest 1 23.66 0 .17 1 54.60 2 6.28 1 94.82 0 .24 2 39.00 4 .20 2 85.60 3 .80 EIR Impact ( 142.24) ( 0.26) ( 177.48) ( 2.49) ( 159.13) ( 0.59) ( 97.00) ( 3.40) ( 60.00) ( 8.50) 1 4,257.03 7 2.81 1 2,395.44 1 ,088.70 1 4,077.48 1 03.81 9 ,126.44 1 ,096.99 7 ,719.20 1 ,279.30 Note:SecuredNon-ConvertibleDebenturesoftheCompanyaresecuredbywayoffirstexclusivechargeonhypothecatedbookdebtsoftheCompanyuptotheextentminimumof100%oftheamount outstanding. 26Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) As at As at As at As at As at 14 Borrowings (other than debt securities at amortised cost) June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Secured Term loans From banks 11,744.28 7,218.02 12,065.20 6,911.61 908.80 From other financial institutions 6,029.38 5,846.35 6,066.93 5,746.86 3,692.61 External commercial borrowings 3,442.18 2,672.14 1,997.27 2,674.07 2,661.80 Loans repayable on demand* From banks - 50.00 10.66 50.00 430.00 Liabilities in respect of securitised transactions From banks 3 ,931.51 3,832.82 1,479.12 3,964.67 2,925.90 From non-banking financial companies 6 ,994.61 6,147.89 7,772.15 4,043.81 2,694.50 Unsecured Term loans From other financial institutions 279.74 852.15 396.79 412.08 649.50 External commercial borrowings 1,334.64 1,291.47 1,293.84 963.37 - 3 3,756.34 2 7,910.84 3 1,081.96 2 4,766.47 1 3,963.11 Borrowings in India 2 8,979.52 2 5,238.70 2 7,790.85 2 1,129.03 1 1,301.31 Borrowings outside India 4 ,776.82 2 ,672.14 3 ,291.11 3 ,637.44 2 ,661.80 3 3,756.34 2 7,910.84 3 1,081.96 2 4,766.47 1 3,963.11 * Secured by hypothecation of specific loan receivables (current and future) / cash and cash equivalents of the Company. Note: Refer Note 14(i) for the repayment details along with rate of interest details. 27Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) 14(i) Details of terms of repayment for the other long-term borrowings and security provided in respect of the secured other long-term borrowings: a) Terms of principal repayment of borrowings (other than debt securities & securitisation) as on June 30, 2025 Due within Due between Due Between Due between Due between Original Maturity of 1 Years 1 to 2 Years 2 to 3 Years 3 to 4 years 4 to 5 years Total loan and ROI No of No of No of No of No of Amount Amount Amount Amount Amount Amount Instalments Instalments Instalments Instalments Instalments Bullet - - 2 1,506.68 2 2,266.91 - - 1 299.40 4,072.99 Monthly 202 3,220.52 516 6,182.81 296 4,208.25 43 1,343.75 - - 14,955.34 Quarterly 8 180.06 37 1,781.39 38 1,126.15 - - - - 3,087.60 Yearly - - 2 570.29 - - - - - - 570.29 Accrued interest 205.76 EIR impact ( 61.76) Total 210 3 ,400.58 557 1 0,041.18 336 7 ,601.31 43 1 ,343.75 1 2 99.40 2 2,830.22 Interest rate ranges from 07.51% to 13.50% b) Terms of Principal Repayment of Borrowings (securitisation) as on 30 June, 2025 Due within Due between Due Between Due between Due between Original Maturity of 1 Years 1 to 2 Years 2 to 3 Years 3 to 4 years 4 to 5 years Total loan and ROI No of No of No of No of No of Amount Amount Amount Amount Amount Amount Instalments Instalments Instalments Instalments Instalments Monthly 54 982.13 122 8,355.90 15 1,586.60 - - - - 10,924.63 Accrued Interest 24.39 EIR Impact ( 22.90) 54 982.13 122 8,355.90 15 1,586.60 - - - - 10,926.12 Interest rate ranges from 09.51% to 11.00% 28Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) c) Terms of Principal Repayment of Borrowings (other than debt securities & securitisation) as on 30 June, 2024 Due within Due between Due Between Due between Due between Original Maturity of 1 Years 1 to 2 Years 2 to 3 Years 3 to 4 years 4 to 5 years Total loan and ROI No of No of No of No of No of Amount Amount Amount Amount Amount Amount Instalments Instalments Instalments Instalments Instalments Bullet 2 467.26 - - 2 1,338.73 1 959.93 1 292.25 3,058.17 Monthly 128 1,440.67 579 8,981.19 220 1,696.25 - - - - 12,118.12 Quarterly 7 137.50 28 702.68 23 958.40 - - - - 1,798.58 Yearly - - - - 3 834.53 - - - - 834.53 Accrued interest 203.15 EIR impact ( 82.42) 137 2,045.43 607 9,683.87 248 4,827.91 1 959.93 1 292.25 17,930.13 d) Terms of Principal Repayment of Borrowings (securitisation) as on 30 June, 2024 Due within Due between Due Between Due between Due between Original Maturity of 1 Years 1 to 2 Years 2 to 3 Years 3 to 4 years 4 to 5 years Total loan and ROI No of No of No of No of No of Amount Amount Amount Amount Amount Amount Instalments Instalments Instalments Instalments Instalments Monthly 89 2,118.90 209 5,557.12 20 2,297.59 - - - - 9,973.61 Accrued Interest 30.10 EIR Impact ( 23.00) 89 2,118.90 209 5,557.12 20 2,297.59 - - - - 9,980.71 Interest rate ranges from 10.01% to 11.00% 29Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) e) Terms of principal repayment of borrowings (other than debt securities & securitisation) as on March 31, 2025 Due within Due between Due between Due between Due between Original Maturity of 1 years 1 to 2 years 2 to 3 years 3 to 4 years 4 to 5 years Total loan and ROI Amount No of No of No of No of No of Amount Amount Amount Amount Amount Instalments Instalments Instalments Instalments Instalments Bullet 1 10.70 2 1,384.90 1 984.20 - - 1 299.50 2,679.30 Monthly 209 3,463.70 501 6,391.20 330 3,487.04 8 2 1,937.50 - - 15,279.44 Quarterly 14 3 00.89 3 4 1,683.60 41 1,283.23 - - - - 3,267.73 Yearly - - 2 5 70.50 - - - - - - 570.50 Accrued Interest 108.42 EIR Impact (74.70) Total 2 24 3 ,775.29 5 39 1 0,030.20 3 72 5 ,754.47 8 2 1 ,937.50 1 2 99.50 2 1,830.69 Interest rate ranges from 8.01% to 13.50% f) Terms of principal repayment of borrowings (securitisation) as on March 31, 2025 Due within Due between Due between Due between Due between Original Maturity of 1 years 1 to 2 years 2 to 3 years 3 to 4 years 4 to 5 years Total loan and ROI Amount No of No of No of No of No of Amount Amount Amount Amount Amount Instalments Instalments Instalments Instalments Instalments Monthly 88 1,595.44 89 4,093.63 33 3,554.72 - - - - 9,243.79 Accrued Interest 29.90 EIR Impact (22.42) Total 8 8 1 ,595.44 8 9 4 ,093.63 3 3 3 ,554.72 - - - - 9 ,251.27 Interest rate ranges from 9.51% to 11.00% g) Terms of Principal Repayment of Borrowings (other than debt securities & securitisation) as on 31 March, 2024 Due within Due between Due Between Due between Due between Original Maturity of 1 Years 1 to 2 Years 2 to 3 Years 3 to 4 years 4 to 5 years Total loan and ROI No of No of No of No of No of Amount Amount Amount Amount Amount Amount Instalments Instalments Instalments Instalments Instalments Bullet 2 466.89 1 1.30 2 1,353.27 1 958.80 - - 2,780.26 Monthly 128 1,641.09 555 8,314.37 171 1,675.38 36 250.00 - - 11,880.84 Quarterly 5 104.17 30 598.48 12 500.00 - - - - 1,202.65 Yearly - - - - 3 833.70 - - - - 833.70 Accrued interest 126.44 EIR impact ( 65.90) 135 2,212.15 586 8,914.15 188 4,362.35 37 1,208.80 - - 16,757.99 Interest rate ranges from 9.01% to 13.50% 30Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) h) Terms of Principal Repayment of Borrowings (securitisation) as on 31 March, 2024 Due within Due between Due Between Due between Due between Original Maturity of 1 Years 1 to 2 Years 2 to 3 Years 3 to 4 years 4 to 5 years Total loan and ROI No of No of No of No of No of Amount Amount Amount Amount Amount Amount Instalments Instalments Instalments Instalments Instalments Monthly 109 2,185.30 209 5,815.57 - - - - - - 8,000.87 Accrued Interest 24.90 EIR Impact ( 17.29) 109 2,185.30 209 5,815.57 - - - - - - 8,008.48 Interest rate ranges from 8.51% to 11.00% i) Terms of Principal Repayment of Borrowings (other than debt securities & securitisation) as on 31 March, 2023 Due within Due between Due Between Due between Due between Original Maturity of 1 Years 1 to 2 Years 2 to 3 Years 3 to 4 years 4 to 5 years Total loan and ROI No of No of No of No of No of Amount Amount Amount Amount Amount Amount Instalments Instalments Instalments Instalments Instalments Bullet 9 2,124.10 1 411.10 - - - - - - 2,535.20 Monthly 88 656.14 281 2,575.70 91 994.90 - - - - 4,226.74 Quarterly 8 166.67 12 279.20 11 229.20 - - - - 675.07 Half Yearly - - - - 3 822.20 - - - - 822.20 Accrued Interest 104.70 EIR Impact ( 21.20) 105 2,946.91 294 3,266.00 105 2,046.30 - - - - 8,342.71 Interest rate ranges from 9.01% to 13.00% j) Terms of Principal Repayment of Borrowings (securitisation) as on 31 March, 2023 Due within Due between Due Between Due between Due between Original Maturity of 1 Years 1 to 2 Years 2 to 3 Years 3 to 4 years 4 to 5 years Total loan and ROI No of No of No of No of No of Amount Amount Amount Amount Amount Amount Instalments Instalments Instalments Instalments Instalments Monthly 200 4,562.30 57 1,058.00 - - - - - - 5,620.30 Accrued Interest 16.30 EIR Impact ( 16.20) 200 4,562.30 57 1,058.00 - - - - - - 5,620.40 Interest rate ranges from 9.01% to 14.00% 31Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) As at As at As at As at As at 15 Lease liabilities June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Lease liabilities 308.77 274.14 284.11 236.31 242.90 3 08.77 2 74.14 2 84.11 2 36.31 2 42.90 Note: Refer note 50 for lease liability disclosure. As at As at As at As at As at 16 Other financial liabilities June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 At amortised cost Employee benefit payable 176.45 61.87 100.41 54.24 29.00 Expenses payable 157.43 202.82 170.11 156.76 95.77 Creditors for expenses 8.43 10.29 7.74 33.45 24.92 Payables on purchase of property, plant and equipment 3.66 4.22 3.49 9.40 6.10 Other financial liabilities 164.19 254.09 199.56 300.38 4.86 5 10.16 5 33.29 4 81.30 5 54.23 1 60.65 As at As at As at As at As at 17 Provisions June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Provision for employee benefits Provision for gratuity 136.64 110.83 130.64 92.51 67.80 Provision for compensated absences 83.69 63.58 58.46 39.83 34.20 Provision for bonus 302.97 99.30 244.24 170.36 124.60 Other provisions Provision for dividend on CCPS - 0.17 - 0.16 0.10 5 23.30 2 73.88 4 33.34 3 02.86 2 26.70 As at As at As at As at As at 18 Other non-financial liabilities June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Statutory dues payable 67.05 83.79 118.02 118.54 62.99 EMI and interest received in advance from customers (including 146.50 125.66 147.24 104.67 60.21 Pre EMI) Goods and service tax payable 16.90 11.07 24.58 28.14 - Others - 2.50 - 3.29 - 2 30.45 2 23.02 2 89.84 2 54.64 1 23.20 32Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) As at As at As at As at As at 19 Equity share capital June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 No. of Shares Amount No. of Shares Amount No. of Shares Amount No. of Shares Amount No. of Shares Amount Authorized Equity shares of Rs.2 each with voting rights for June 30, 2025 & March 31, 2025 and Equity shares of Rs.10 each with voting rights for June 30, 2024, March 31, 41,00,00,000 820.00 67,30,000 67.30 41,00,00,000 820.00 67,30,000 67.30 55,00,000 55.00 2024 and March 31, 2023 Compulsorily Convertible Cumulative Preference shares (CCPS) of Rs. 10 each with - - 2,91,00,000 291.00 - - 2,91,00,000 291.00 2,91,00,000 291.00 voting rights Compulsorily Convertible Cumulative Preference shares (CCPS) of Rs. 20 each with - - 47,40,000 94.80 - - 47,40,000 94.80 - - voting rights 41,00,00,000 820.00 4,05,70,000 453.10 41,00,00,000 820.00 4,05,70,000 453.10 3,46,00,000 346.00 Issued, subscribed and paid-up Equity shares of Rs.2 each with voting rights for June 30, 2025 & March 31, 2025 and Equity shares of Rs.10 each with voting rights for June 30, 2024, March 31, 19,17,41,570 383.48 48,30,520 48.31 19,17,41,570 383.48 48,30,520 48.31 48,30,500 48.31 2024 and March 31, 2023 Less: amount recoverable from ESOP Trust (face value of Rs.2 each for June 30, 2025 & March 31, 2025 and face value of Rs.10 each for June 30, 2024, March 31, (28,01,470) (5.60) (5,60,294) (5.60) (28,01,470) ( 5.60) (5,60,294) (5.60) (5,60,294) (5.60) 2024 and March 31, 2023) held by trust) 0.01% Compulsorily Convertible Cumulative Preference Shares (CCPS) of Rs. 10 - - 2,61,82,448 261.82 - - 2,61,82,448 261.82 2,61,82,448 261.82 each 0.01% Compulsorily Convertible Cumulative Preference Shares (CCPS) of Rs. 20 Amount recoverable from ESOP Trust (face value of 5,60,294 shares of Rs.10 each held by t r u s t ) ( C ) - - 47,39,244 94.78 - - 47,39,244 94.78 - - each 377.88 399.31 377.88 399.31 304.53 Details of shares held by promoters ** As at June 30, 2025 S. No. Promoter name No. of shares % of total shares Nil Nil Nil As at June 30, 2024 S. No. Promoter name No. of shares % of total shares Nil Nil Nil As at March 31, 2025 S. No. Promoter name No. of shares % of total shares Nil Nil Nil As at March 31, 2024 S. No. Promoter name No. of shares % of total shares Nil Nil Nil As at March 31, 2023 S. No. Promoter name No. of shares % of total shares Nil Nil Nil ** Disclosure is given as per annual return filed under section 92 of the Companies Act, 2013 33Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) 19.1 Reconciliation of the number of equity shares and amount outstanding at the beginning and at the end of the reporting period*: Particulars Opening balance Fresh Issue CCPS and Additional shares Closing Balance Warrant pursuant to share As at June 30, 2025 Equity shares with voting rights No. of shares 1 9,17,41,570 - - - 1 9,17,41,570 Amount 3 83.48 - - - 3 83.48 As at June 30, 2024 Equity shares with voting rights No. of shares 48,30,520 - - - 48,30,520 Amount 4 8.31 - - - 4 8.31 0.01% Compulsorily Convertible Cumulative Preference Shares (CCPS) of Rs 10 each - No. of shares 2 ,61,82,448 - - - 2,61,82,448 Amount 2 61.82 - - - 2 61.82 0.01% Compulsorily Convertible Cumulative Preference Shares (CCPS) of Rs. 20 each No. of shares 47,39,244 - - - 47,39,244 Amount 9 4.78 - - - 9 4.78 As at March 31, 2025 Equity shares of face value Rs.2 each with voting rights No. of shares 4 8,30,520 2 1,39,125 3,13,78,669 15,33,93,256 1 9,17,41,570 Amount 4 8.31 2 1.39 313.79 - 3 83.48 0.01% Compulsorily Convertible Cumulative Preference Shares (CCPS) of Rs 10 each No. of shares 2 ,61,82,448 - ( 2,61,82,448) - - Amount 2 61.82 - (261.82) - - 0.01% Compulsorily Convertible Cumulative Preference Shares (CCPS) of Rs. 20 each No. of shares 47,39,244 - ( 47,39,244) - - Amount 9 4.78 - (94.78) - - As at March 31, 2024 Equity shares with voting rights No. of shares 4 8,30,500 20 - - 48,30,520 Amount 4 8.31 0 .00 - - 4 8.31 0.01% Compulsorily Convertible Cumulative Preference Shares (CCPS) of Rs 10 each No. of shares 2,61,82,448 - - - 2,61,82,448 Amount 261.82 - - - 2 61.82 0.01% Compulsorily Convertible Cumulative Preference Shares (CCPS) of Rs 20 each No. of shares 4 7,39,244 - - 47,39,244 Amount 9 4.78 - - 9 4.78 As at March 31, 2023 Equity shares with voting rights No. of shares 48,30,500 - - - 48,30,500 Amount 4 8.31 - - - 4 8.31 0.01% Compulsorily Convertible Cumulative Preference Shares (CCPS) of Rs 10 each No. of shares 2 ,61,82,448 - - - 2 ,61,82,448 Amount 261.82 - - - 2 61.82 34Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) 19.2 Terms, rights, preferences and restrictions attached to shares: ThecompanyhasonlyoneclassofequityshareshavingparvalueofRs.2pershare.Eachholderofequitysharesisentitledtoonevotepershare.Intheeventofliquidation,theequityshareholdersareeligibletoreceivetheremainingassetsofthecompanyafterdistributionofall preferential amounts, in proportion of their shareholding. 19.3 DuringthefinancialyearendedMarch31,2025,theCompanyhadallotted3,04,29,293equitysharesofINR10eachonconversionof3,09,21,6920.01%CompulsoryConvertiblePreferenceShares('CCPs')onSeptember23,2024aspertheagreedtermstoCCPSholdersasperthebelow details*: Sr. No. Series No. of CCPS Face Value (in INR) No. of Equity Shares on Conversion at a 1 Series A 20,68,764 10 20,68,764 2 Series A1 29,35,726 10 29,35,726 3 Series B 65,56,360 10 65,56,360 4 Series C 57,36,709 10 57,36,709 5 Series D 54,75,089 10 54,75,089 6 Series E 34,09,800 10 34,09,800 7 Series F 47,39,244 20 42,46,845 Total 3 ,09,21,692 3 ,04,29,293 19.4 Mr. Sanjay Sharma had exercised his rights to convert 9,49,376 warrants into equivalent equity shares and paid remaining amount of Rs 653.11 per warrant. Post that Company allotted him 9,49,376 equity shares of INR 10 each on September 24, 2024. TheCompanyhadalsoallotted21,39,125equitysharesoftheCompanyoffacevalueofRs10eachatapremiumofRs.868.63onSeptember26,2024aspersharesubscriptionagreementdatedSeptember18,2024enteredintobyandamongsttheCompany,IMP2AssetsPte.Ltd.(“ABC Impact”), British International Investment plc (“BII”), Mr. Sanjay Sharma, Shvet Corporation LLP and Shankh Corporation LLP, and the amended and restated shareholders’ agreement dated September 18, 2024 entered by and amongst inter alia the Company, BII and ABC Impact. 19.5 Details of equity shares held by each shareholder holding more than 5% shares in the Company: As at As at As at As at As at Particulars June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Number of shares Number of shares Number of shares Number of shares Number of shares % % % % % held held held held* held* Equity shares with voting rights* Sanjay Sharma 55,45,630 2.89% 48,98,750 20.28% 55,45,630 2.89% 48,98,750 20.28% 48,98,750 20.28% Shankh Corporation LLP 42,48,125 2.22% 42,48,125 17.59% 42,48,125 2.22% 42,48,125 17.59% 42,48,125 17.59% Shvet Corporation LLP 42,48,125 2.22% 42,48,125 17.59% 42,48,125 2.22% 42,48,125 17.59% 42,48,125 17.59% Vikram Jetley 28,90,000 1.51% 28,90,000 11.97% 28,90,000 1.51% 28,90,000 11.97% 31,55,000 13.06% Aye Finance Employee Welfare Trust 28,01,470 1.46% 28,01,470 11.60% 28,01,470 1.46% 28,01,470 11.60% 28,01,470 11.60% Namrata Sharma 13,09,825 0.68% 13,09,825 5.42% 13,09,825 0.68% 13,09,825 5.42% 13,09,825 5.42% A91 Emerging Fund I LLP 1 ,77,15,595 9.24% 325 0.00% 1 ,77,15,595 9.24% 325 0.00% 325 0.00% Elevation Capital V Limited 3 ,10,67,645 16.20% 2,68,385 1.11% 3 ,10,67,645 16.20% 2,68,385 1.11% 2,68,385 1.11% LGT Capital Invest Mauritius PCC with Cell E/VP 2 ,71,20,090 14.14% 1,65,465 0.69% 2 ,71,20,090 14.14% 1,65,465 0.69% 1,65,465 0.69% CapitalG LP 1 ,96,86,685 10.27% 500 0.00% 1 ,96,86,685 10.27% 500 0.00% 500 0.00% Alpha Wave India I LP (Formerly kown as Falcon Edge India I Lp) 2 ,15,14,185 11.22% 8,54,250 3.54% 2,15,14,185 11.22% 8,54,250 3.54% 8,54,250 3.54% British International Investment plc 1 ,82,62,595 9.52% 50 0.00% 1 ,82,62,595 9.52% 50 0.00% - 0.00% MAJ Invest Financial Inclusion Fund II K/S 1 ,14,56,000 5.97% 4,31,075 1.78% 1 ,14,56,000 5.97% 4,31,075 1.78% 4,31,075 1.78% IMP2 Assets Pte. Ltd. 1 ,36,57,490 7.12% - - 1 ,36,57,490 7.12% - - - - 0.01% Compulsorily Convertible Cumulative Preference shares Elevation Capital V Limited - - 6 1,59,852 19.92% - - 6 1,59,852 19.92% 6 1,59,852 23.53% LGT Capital Invest Mauritius PCC with Cell E/VP - - 5 3,90,925 17.43% - - 5 3,90,925 17.43% 5 3,90,925 20.59% CapitalG LP - - 3 9,37,237 12.73% - - 3 9,37,237 12.73% 3 9,37,237 15.04% MAJ Invest Financial Inclusion Fund II K/S - - 2 2,04,985 7.13% - - 2 2,04,985 7.13% 2 2,04,985 8.42% Alpha Wave India I LP (Formerly kown as Falcon Edge India I Lp) - - 41,31,987 13.36% - - 41,31,987 13.36% 41,31,987 15.78% A91 Emerging Fund I LLP - - 35,82,764 11.59% - - 35,82,764 11.59% 32,00,565 12.22% British International Investment plc - - 38,21,977 12.36% 38,21,977 12.36% - - *For Previous year/period no. of Equity shares Impact of split has been considered Refer Note 32.1 35Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) 19.6 Number of shares reserved for share options* As at As at As at As at As at Particulars June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Equity shares of Rs. 2 fully paid up Number of shares reserved for ESOPs* 74,28,874 59,97,194 74,54,306 6 3,99,665 4 2,54,840 *For Previous year/period no. Impact of split has been considered Refer Note 32.1 19.7 Number of shares reserved for warrants As at As at As at As at As at Particulars June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Equity shares of Rs. 1 fully paid up Number of shares reserved for warrants - 9,49,376 - 9 ,49,376 - 19.8 Shares allotted as fully paid-up without payment being received in cash / by way of bonus shares The Company have not issued bonus shares or shares for consideration other than cash during the five year period immediately preceding the reporting date. 19.9 Shares bought back Company have not bought back any of its securities during the five year period immediately preceding the reporting date. 36Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) As at As at As at As at As at 20 Other equity June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Securities premium Opening balance 11,966.43 9,519.49 9,519.49 6,593.40 6,593.40 Add: Premium on shares issued during the period - - 2,446.94 2,926.09 - Closing balance 1 1,966.43 9 ,519.49 1 1,966.43 9 ,519.49 6 ,593.40 Amount received from issue of share warrants - 0 .95 - 0 .95 - Share option outstanding account Opening balance 311.46 219.05 219.05 172.06 115.00 Add: Deferred stock compensation expense 24.10 3.06 92.41 46.99 57.06 Less: Utilisation of deferred stock compensation expense - - - - - Closing balance 335.56 222.11 311.46 2 19.05 1 72.06 Statutory reserve Opening balance 926.11 583.60 583.60 261.30 151.30 Add: Amount transferred from surplus of profit and loss 61.19 121.88 342.51 322.30 110.00 Closing balance 987.30 705.48 926.11 5 83.60 2 61.30 Retained earnings - other than remeasurement of post employment benefit obligation Opening balance 2,983.05 1,573.04 1,573.04 178.55 (110.18) Add: Profit for the year/period 300.69 609.42 1,752.52 1,716.79 398.73 Less: Transfer to statutory Reserve (61.19) (121.88) (342.51) (322.30) (110.00) Closing balance 3,222.55 2,060.58 2,983.05 1 ,573.04 1 78.55 Retained earnings - remeasurement of post employment benefit obligation Opening balance 23.75 30.98 30.98 35.09 5.21 Add: Other comprehensive (loss) / income 1.55 (8.88) (7.23) (4.11) 29.88 Closing balance 25.30 22.10 23.75 3 0.98 3 5.09 Total 1 6,537.14 1 2,530.71 1 6,210.80 1 1,927.16 7 ,240.40 Nature and purpose of reserves Statutory reserves ThereserveiscreatedaspertheprovisionofSection45(IC)ofReserveBankofIndiaAct,1934.Thisisarestrictedreserveandnoappropriationcanbemadefromthisreservefundexceptforthepurposeasmaybe prescribed by Reserve Bank of India. Securities premium reserves SecuritiesPremiumReserveiscreditedwhensharesareissuedatpremium.ItisutilizedinaccordancewiththeprovisionsofAct,toissuebonusshares,toprovideforpremiumonredemptionofshares,write-offequity relatedexpenseslikeunderwritingcostetc.,andduringtheyearendedMarch31,2025andMarch31,2024suchexpensesamountingtothetuneof Rs22.50MillionsandRs.78.40millionsrespectivelyhavebeen utilised. Employee stock outstanding account Inaccordancewithresolutionapprovedbytheshareholders,theCompanyhasreservedsharesoptions,forissuancetotheeligibleemployeesthroughESOPscheme.TheCompanyhasapprovedstockoptionschemes- ESOP Scheme 2016, 2020 and 2024 on August 05, 2016, November 10, 2020 and June 26, 2024 respectively as amended from time to time. TheAdministrator(i.e.NominationandRemunerationCommittee('NRC')oftheCompany'sboardofdirectors)hasthepowertogranttheoptionsinpursuancetotheESOPschemes,eachoptionconsistsofoneequity share.Suchoptionvestatadefinitedate,saveforspecificincidents,prescribedintheschemesasframed/approvedbytheCompanyandshareholders.Suchoptionsareexercisableforaperiodfollowingvestingat the discretion of the Board of Directors of the Company , subject to the conditions prescribed in the ESOP schemes as amended from time to time. Retained earnings - other than remeasurement of post employment benefit obligation RetainedearningsoraccumulatedsurplusrepresentstotalofallprofitsretainedsinceCompany’sinception.Retainedearningsarecreditedwithcurrentyearprofits,reducedbylosses,ifany,dividendpayouts, transfers to General reserve or any such other appropriations to specific reserves. Retained earnings - remeasurement of post employment benefit obligation Remeasurement of the net defined benefit liabilities comprise actuarial gain or loss. 37Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) Three months ended Three months ended Year ended Year ended Year ended 21 Interest income June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 On Financial Assets measured at amortised cost Interest on loans to customers 3,546.14 3,072.87 13,026.32 9,322.30 5,557.25 Interest on deposits with banks 61.07 44.17 233.32 164.56 107.60 Interest income on treasury bill 0.61 - - - - 3 ,607.82 3 ,117.04 1 3,259.64 9 ,486.86 5 ,664.85 Net gain/(loss) on derecognition of financial instruments under Three months ended Three months ended Year ended Year ended Year ended 22 amortised cost category June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Net gain on derecognition of financial instruments under 1 30.39 1 7.01 3 75.93 189.48 125.10 amortised cost category 1 30.39 1 7.01 3 75.93 1 89.48 1 25.10 Three months ended Three months ended Year ended Year ended Year ended 23 Fees and commission income June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Servicing fee 8.61 6.27 21.84 35.87 5.70 Application fee 30.91 33.29 133.95 132.44 98.90 Delay payment charges, registration charges and others 106.40 88.69 388.38 310.33 150.20 1 45.92 1 28.25 5 44.17 4 78.64 2 54.80 Three months ended Three months ended Year ended Year ended Year ended 24 Net gain on fair value changes June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Gain on sale of mutual funds 88.54 80.03 383.65 210.10 119.90 Gain on currency fluctuation - 12.07 - 37.10 69.60 Gain on fair value of cross currency swap 96.96 - 33.93 - - 1 85.50 9 2.10 4 17.58 2 47.20 1 89.50 Realised gain 8 8.54 8 0.03 3 83.65 2 69.90 1 16.50 Unrealised (loss) / gain 9 6.96 1 2.07 3 3.93 ( 22.70) 7 3.00 1 85.50 9 2.10 4 17.58 2 47.20 1 89.50 Three months ended Three months ended Year ended Year ended Year ended 25 Other income June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Miscellaneous income* 90.94 151.76 447.20 312.63 199.10 Profit on early termination of lease 0.68 0.26 4.98 2.59 - Profit on sale of assets 0.06 0.02 0.37 0.10 - 9 1.68 1 52.04 4 52.55 3 15.32 1 99.10 * Includes interest on Income tax refund. Three months ended Three months ended Year ended Year ended Year ended 26 Finance cost June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Interest on: Debt securities 384.83 338.89 1,522.94 1,132.40 1,024.60 Borrowings (other than debt securities) 793.67 680.38 2,863.11 1,932.40 815.90 Lease liabilities 12.93 9.87 45.72 22.11 31.60 Delayed payment of statutory dues - - 4.88 - 0.10 Other finance cost* 71.91 51.91 243.38 178.40 107.40 1 ,263.34 1 ,081.05 4 ,680.03 3 ,265.31 1 ,979.60 * Other finance cost includes interest expense calculated using the EIR method. 38Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) Three months ended Three months ended Year ended Year ended Year ended 27 Net loss on fair value changes June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Loss on fair value of cross currency swap - 13.32 - 61.80 65.70 Loss on currency fluctuation 120.92 36.21 - - 1 20.92 1 3.32 3 6.21 6 1.80 6 5.70 Three months ended Three months ended Year ended Year ended Year ended 28 Impairment on financial instruments June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Measured at amortised cost Impairment on financial instruments at amortised cost 188.80 210.06 818.77 768.00 208.50 Amounts written off (net of recovery) 666.74 271.92 2,034.89 529.20 500.00 Loss on settlement 10.89 3.87 29.30 16.81 25.00 Impairment Provision on Staff Loan 0.69 - 5.30 8 67.12 4 85.85 2 ,888.26 1 ,314.01 7 33.50 Three months ended Three months ended Year ended Year ended Year ended 29 Employee benefits expense June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Salaries and wages 950.04 691.75 3,141.45 2,252.00 1,743.50 Contribution to provident and other funds 65.60 51.57 232.65 176.10 152.70 Expense on employee stock option (ESOP) scheme 24.11 3.06 92.41 47.00 57.00 Staff welfare expenses 102.88 70.04 292.32 249.91 144.90 Gratuity expenses [Refer note 35] 10.37 8.22 37.54 27.10 23.90 1 ,153.00 8 24.64 3 ,796.37 2 ,752.11 2 ,122.00 Three months ended Three months ended Year ended Year ended Year ended 30 Other expenses June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Rent - - - - 0.80 Rates and taxes 9 .34 4 .97 4 1.86 25.55 12.20 Communication costs 8 .60 1 4.69 5 5.84 63.14 48.50 Printing and stationery 3 .81 5 .90 2 2.96 23.90 19.20 Legal and Professional charges 6 3.67 4 4.95 2 29.62 153.90 98.60 Directors fees 1 .10 0 .94 5 .52 3.50 2.50 Payment to auditors [Refer Note below] 2 .46 0 .95 8 .59 10.49 12.23 Corporate social responsibility (CSR) [Refer note 31] 5 .21 5 .00 1 7.48 9.36 5.30 Membership and subscription fees 4 8.84 3 0.34 1 67.24 121.06 98.70 Travel and conveyance 8 7.46 8 0.24 3 37.31 293.78 240.90 Tour and travelling 2 3.92 1 8.74 9 4.75 68.24 51.90 Electricity expenses 4 .51 4 .12 1 9.54 14.85 10.50 Office expenses 1 6.27 1 6.27 6 9.96 61.04 53.40 CGTMSE premium charge - - - 0.75 22.50 Bank charges 8 .72 6 .90 3 5.77 22.99 11.70 Loss on sale of property, plant and equipment - - - 0.60 - Provision on investments - - - 2.53 - Miscellaneous expenses 1 3.14 7 .84 7 0.83 24.59 15.19 2 97.05 2 41.85 1 ,177.27 9 00.27 7 04.12 Note : Payment to auditors Statutory audit 1.44 0.44 4.51 4.65 6.79 Limited review 0.41 0.50 1.80 3.01 4.09 Tax audit 0.15 - 0.64 0.49 0.71 Other certifications 0.21 0.01 1.07 1.80 0.64 Out of Pocket Expense 0.25 - 0.57 0.54 - 2 .46 0 .95 8 .59 1 0.49 1 2.23 Note: 1. The above amount includes GST, for which 50% input credit is not available. 2. For the year ended March 31, 2025, the company has incurred INR 7.10 Millions towards service received from the auditors of the Company in relation to the proposed Initial Public Offering (IPO). The amount is inclusive of GST, for which 50% input credit is not available and Out of pocket expense.The same was not charged off to the statement of profit and loss and was disclosed in 'Other Non- financial assets' 3. For the year ended March 31, 2024, amount is inclusive of Rs. 4.57 millions paid to the erstwhile Statutory Auditors i.e. SR Batliboi & Associates LLP (March 31, 2023: Rs. 12.23 millions). It includes Tax Audit Fees, Limited Review Fees, Certifications Fees & Out of Pocket Expenses. 39Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) 31 Disclosure pertaining to corporate social responsibility expenses Three months ended Three months ended Year ended Year ended Year ended Particulars June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Amount required to be spent by the Company during the period / year 3 4.66 1 5.52 1 5.52 1 .77 5 .00 Amount spent during the period/year (a) Construction/acquisition of any asset - - - - - (b) On purposes other than (a) above** 5 .21 5 .00 1 7.48 9 .36 5 .30 (c) Shortfall/(excess) at the end of the year Nil Nil Nil Nil Nil (d) Total of Previous year shortfall Nil Nil Nil Nil Nil (e) Reason for shortfall NA NA NA NA NA (f)Whereaprovisionismadewithrespecttoliabilityincurredbyentering NA NA NA NA NA into a contractual obligation, the movements in the provision. ** For the purpose of Dairy program, Footwear Program, Sports Program, Kirana program, Women Empowerment etc. Note: 1 Details of related party transactions in relation to CSR expenditure as per Ind AS 24, Related Party Disclosures (refer note no 36). Note: 2 The Company has undertaken CSR Activities as per schedule VII of the Companies Act, 2013. 32 Earnings per share BasicEPSamountsiscalculatedbydividingtheprofitfortheyearattributabletoequityholdersbytheweightedaveragenumberofequitysharesoutstandingduringtheyear.Dilutedearningspershareis computed using the weighted average number of common and dilutive common equivalent shares outstanding during the year, except where the result would be anti-dilutive. Three months ended Three months ended Year ended Year ended Year ended Particulars June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Profit / (Loss) attributable to equity holders 3 00.69 6 09.42 1752.52 1,716.79 3 98.73 Less: Preference dividend - - - - - Net Profit / (Loss) attributable to equity holders 300.69 609.42 1,752.52 1,716.79 398.73 Weightedaveragenumberofequitysharesoutstandingduringtheyear- 19,17,41,570 3,57,52,192 3,68,63,054 3,23,27,266 3,10,12,948 for Basic EPS original Impactofsharespliteffectedduringtheyear(eachshareoffacevalueRs - 14,30,08,768 14,74,52,216 12,93,09,066 12,40,51,792 10 split into five shares of face value of Rs 2 each) Weighted Average number of Equity Shares post split used as 19,17,41,570 17,87,60,960 18,43,15,270 16,16,36,332 15,50,64,740 denominator in calculating Basic Earnings Per Share Effect of dilutive potential equity share equivalent 31,22,412 3,97,073 6,76,432 3,62,599 3,91,080 Impactofsharespliteffectedyeartheyear(eachshareoffacevalueRs10 - 15,88,294 27,05,728 14,50,395 15,64,320 split into five shares of face value of Rs 2 each) Weightedaveragenumberofequitysharesoutstandingduringtheyear- 19,48,63,982 18,07,46,327 18,76,97,430 16,34,49,326 15,70,20,140 for Dilutive EPS post split Basic earnings per share (Rs.) 1.57 3.41 9.51 10.62 2.57 Diluted earnings per share (Rs.) 1.54 3.37 9.34 10.50 2.54 Nominal value per share (Rs.) 2 .00 2 .00 2 .00 2 .00 2 .00 Earning per share both (basic & diluted) has been restated for Previous year/period June 30,2024, March 31,2024, March 31,2023 on account of split issue. 32.1 The Board of Directors of the Company in the Board meeting dated October 16, 2024 and Shareholders of the company in the Extra Ordinary General Meeting dated October 17, 2024 have approved the re-classification and sub-division of each of the Equity Share of the Company having a face value of Rs. 10/- each in the Equity Share Capital of the Company, into 5 Equity Shares having a face value of Rs. 2/- each. 40Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) 33 Contingent liabilities and commitments (to the extent not provided for) As at As at As at As at As at Particulars June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 (a) Contingent liability Income Tax laws 1 00.40 2 4.40 1 00.40 2 4.40 24.40 TDS demand 2 8.50 - 2 8.50 - - GST demand 0.90 - 0.90 - - (a) Commitments Estimated amount of contracts remaining to be executed on capital - - - - - account and not provided for Commitments related to loans sanctioned but not disbursed 3 65.39 3 02.03 4 11.30 3 82.00 166.64 34 Segment information OperatingsegmentsarereportedinamannerconsistentwiththeinternalreportingprovidedtotheChiefOperatingDecisionMaker(CODM).TheCODMmakesstrategicdecisionsandisresponsiblefor allocating resources and assessing performance of the operating segments. TheCODMconsiderstheentirebusinessoftheCompanyonaholisticbasistomakeoperatingdecisionsreviewstheoperatingresultsoftheCompanyasawhole.FurthertheCompanyoperatesinasingle reportablesegmenti.e.grantingloans,whichhassimilarrisksandreturnsforthepurposeofIndAS108“Operatingsegments”,andisconsideredtobetheonlyreportablebusinesssegment.Further,the Company is operating in India which is considered as a single geographical segment. 41Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) 35 Employee benefits 35.1 Defined contribution plans TheCompanymakesProvidentFundtodefinedcontributionplanforqualifyingemployees.UndertheSchemes,theCompanyisrequiredtocontributeaspecifiedpercentageofthepayrollcoststofundthe benefits.TheCompanyrecognisedRs.65.60millions(June30,2024:Rs.51.57millions,March31,2025:Rs.232.65millions,March31,2024:Rs.176.10millionsandMarch31,2023:Rs.152.70millions)for Provident Fund contributions in the statement of profit and loss. The contributions payable to these plans by the Company are at rates specified in the rules of the schemes. 35.2 Other long-term benefits Thecompanyhasadefinedbenefitleaveencashmentplanforitsemployees.Underthisplan,theyareentitledtoencashmentofearnedleavessubjecttocertainlimitsandotherconditionsspecifiedforthe same.Theliabilitiestowardsleaveencashmenthavebeenprovidedonthebasisofactuarialvaluation.TheCompanyrecognised Rs.29.06millions(June30,2024:Rs.25.47millions,March31,2025:Rs71.36 millions, March 31, 2024 :Rs 46.81 millions, March 31, 2023 :Rs 31.39 millions) for compensated absences in the statement of profit and loss. 35.3 Defined benefit plans The Company's gratuity scheme provide for lump sum payment to vested employees at retirement, death while in employment or on termination of employment of an amount equivalent to 15 days basic salary for each completed year of service or part thereof in excess of six months in terms of provisions of Payment of Gratuity Act, 1972. Vesting occurs upon completion of five years of service. Thepresentvalueofdefinedbenefitobligationandtherelatedcurrentservicecostweremeasuredusingtheprojectedunitcreditmethodwithactuarialvaluationsbeingcarriedoutateachbalancesheet date. The following table summarises the components of net benefit expense recognised in the statement of profit and loss and the amounts recognised in the balance sheet: (a) Amount recognised in the statement of profit and loss and other comprehensive income: Three months ended Three months ended Year ended Year ended Year ended Particulars June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Current service cost 8.07 6.55 30.84 22.09 17.19 Interest expense 2.30 1.67 6.70 5.01 6.71 Amount recognised in the statement of profit and loss 10.37 8.22 37.54 27.10 23.90 Remeasurement of defined benefit liability: Actuarial (gain) / loss from changes in demographic assumptions - - - - ( 33.21) Actuarial (gain) / loss from changes in financial assumptions ( 0.88) 0.11 1.32 0.59 ( 2.06) Actuarial (gain) / loss from experience adjustments ( 1.18) 1 1.77 8.40 5.02 ( 4.63) Amount recognised in other comprehensive income (2.06) 1 1.88 9 .72 5 .61 (39.90) 8 .31 2 0.10 4 7.26 3 2.71 (16.00) (b) Reconciliation of fair value plan assets and defined benefit obligation As at As at As at As at As at Particulars June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Defined benefit obligation 1 36.64 1 10.83 130.64 9 2.51 6 7.80 Net defined (asset) / liability recognised in the balance sheet 1 36.64 1 10.83 1 30.64 9 2.51 6 7.80 (c) Actual contributions and benefit payments during the year Three months ended Three months ended Year ended Year ended Year ended Particulars June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Actual benefit payments (2.31) (1.78) (9.14) (8.00) (8.60) (d) Changes in the present value of the defined benefit obligation are as follows: Three months ended Three months ended Year ended Year ended Year ended Particulars June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Defined benefit obligation at beginning of the year/period 130.64 92.51 92.51 67.80 9 2.40 Current service cost 8 .07 6 .55 30.84 2 2.09 1 7.19 Past service cost - - - - - Interest expense 2 .30 1 .67 6.70 5 .01 6 .71 Remeasurement (gains) / losses Actuarial (gain) / loss from changes in financial assumptions ( 0.88) 0 .11 1.32 0 .59 ( 2.06) Actuarial (gain) / loss from experience adjustments ( 1.18) 1 1.77 8.40 5 .02 ( 4.63) Actuarial (gain) / loss from changes in demographic assumptions - - - - ( 33.21) Benefits paid ( 2.31) ( 1.78) ( 9.14) ( 8.00) ( 8.60) Defined benefit obligation at end of the year/period 1 36.64 1 10.83 1 30.64 9 2.51 6 7.80 (e) Changes in the fair value of plan assets are as follows: Fair value of plan assets at beginning of the year/period - - - - - Fair value of plan assets at end of the year/period - - - - - 42Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) 35.4 The principal assumptions used in determining obligations for the Company's plan are shown below: Three months ended Three months ended Year ended Year ended Year ended Particulars June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Discount rate (in %) 7.17% 7.23% 7.04% 7 .25% 7 .39% Future salary increase (in %) 10.00% 10.00% 10.00% 1 0.00% 1 0.00% Retirement age 58.00 58.00 58.00 5 8.00 5 8.00 Demographic assumptions Attrition Upton 30 years 33.10% 33.10% 33.10% 3 3.10% 3 3.10% 31-44 years 28.40% 28.40% 28.40% 2 8.40% 2 8.40% Above 44 years 6.20% 6.20% 6.20% 6 .20% 6 .20% Mortality IALM (2012-14) IALM (2012-14) IALM (2012-14) IALM (2012-14) IALM (2012-14) ThediscountrateisbasedontheprevailingmarketyieldsofGovernmentofIndiasecuritiesasatthebalancesheetdatefortheestimatedtermofobligations.Theestimateoffuturesalaryincreases considered, takes into account the inflation, seniority, promotion, increments and other relevant factors. Sensitivity analysis Significantactuarialassumptionsforthedeterminationofthedefinedobligationarediscountrate,expectedsalaryincreaseandmortality.Thesensitivityanalysesbelowhavebeendeterminedbasedon reasonably possible changes of the respective assumptions occurring at the end of the reporting period, while holding all other assumptions constant. As at As at As at As at As at Particulars June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Present value of obligation at the end of the period 136.64 110.83 130.64 92.51 67.80 Effect of +50 basis points in rate of discounting (3.30) (2.59) (3.17) (2.20) (1.57) Effect of -50 basis points in rate of discounting 3.48 2.73 3.34 2.30 1.65 Present value of obligation at the end of the period 136.64 110.83 130.64 92.51 67.80 Effect of +50 basis points in rate of salary increase 3.00 2.40 2.87 2.00 1.55 Effect of -50 basis points in rate of salary increase (2.90) (2.32) (2.78) (2.00) (1.50) Thesensitivityanalysispresentedabovemaynotberepresentativeoftheactualchangeinthedefinedbenefitobligationasitisunlikelythatthechangeinassumptionswouldoccurinisolationofoneanother as some of the assumptions may be correlated. Furthermore,inpresentingtheabovesensitivityanalysis,thepresentvalueofthedefinedbenefitobligationhasbeencalculatedusingtheprojectedunitcreditmethodattheendofthereportingperiod, which is the same as that applied in calculating the defined benefit obligation liability recognised in the balance sheet. There was no change in the methods and assumptions used in preparing the sensitivity analysis from prior years. Estimated gain/ (loss) Estimated gain/ (loss) Present value of defined Experience adjustments Fair value of plan assets adjustments on plan adjustments on plan benefit obligation liabilities assets Jun 30, 2025 1 36.64 - ( 1.18) - Jun 30, 2024 1 10.83 - 1 1.77 - 2024-25 1 30.64 8 .40 2023-24 9 2.51 - 5 .02 - 2022-23 6 7.80 - ( 4.63) - 2021-22 9 2.40 - ( 11.48) - 2020-21 7 4.48 - 3 .43 - 2019-20 4 4.89 - ( 1.07) - 2018-19 1 9.91 - 0 .00 - 2017-18 7.96 - ( 0.05) - 2016-17 3.71 - 0 .19 - 35.5 Risk exposure: Through its defined benefit plans, the Company is exposed to a number of risks, the most significant of which are detailed below: Interestrisk:TheplanexposestheCompanytotheriskoffallininterestrates.Afallininterestrateswillresultinanincreaseintheultimatecostofprovidingtheabovebenefitandwillthusresultinan increase in the value of the liability (as shown in financial statements). Liquidityrisk:ThisistheriskthattheCompanyisnotabletomeettheshort-term/longtermgratuitypay-outs.Thismayariseduetononavailabilityofenoughcash/cashequivalenttomeettheliabilitiesor holding of illiquid assets not being sold in time. SalaryEscalationrisk:Thepresentvalueofthedefinedbenefitplaniscalculatedwiththeassumptionofsalaryincreaserateofplanparticipantsinfuture.Deviationintherateofincreaseofsalaryinfuturefor plan participants from the rate of increase in salary used to determine the present value of obligation will have a bearing on the plan's liability. Demographicrisk:TheCompanyhasusedcertainmortalityandattritionassumptionsinvaluationoftheliability.TheCompanyisexposedtotheriskofactualexperienceturningouttobeworsecomparedto the assumption. Regulatoryrisk:GratuitybenefitispaidinaccordancewiththerequirementsofthePaymentofGratuityAct,1972(asamendedfromtimetotime).Thereisariskofchangeinregulationsrequiringhigher gratuity pay-outs (e.g. Increase in the maximum limit on gratuity of Rs. 2 Millions). 43Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) 36 Related party disclosures Disclosures in accordance with the requirements of Ind AS 24 on Related Party Disclosures, as identified and certified by the management, are set out as below: 36.1 Details of related parties: Description of relationship Names of related parties Key Managerial Personnel (KMP) Mr. Sanjay Sharma - Managing Director Mr. Mayank Shyam Thatte - Chief Financial Officer (up to May 24, 2023) Mr. Krishan Gopal - Chief Financial Officer (w.e.f. July 07, 2023) Ms. Tripti Pandey - Company Secretary, Compliance Officer & CCO (up to May 24, 2024) Mr. Vipul Sharma- Company Secretary , Compliance Officer & CCO (w.e.f. May 25,2024) Independent directors Mr. Navin Kumar Maini (up to September 02, 2023) Mr. Vinay Baijal (up to September 02, 2023) Mr. Vinay Baijal (w.e.f. August 16, 2024) Ms. Arpita Pal Agrawal (up to September 02, 2023) Mr. Govinda Rajulu Chintala (w.e.f. September 01, 2023) (Appointed as Chairperson of Board w.e.f. January 5, 2024) Mr. Sanjaya Gupta (w.e.f. September 01, 2023) Ms. Kanika Tandon Bhal (resigned w.e.f. September 01, 2022) Ms. Kanika Tandon Bhal (w.e.f. September 01, 2023) Ms. Padmaja Nair (w.e.f. October 17, 2024) Non-Executive, Non-Independent Directors Mr. Vivek Kumar Mathur (up to December 12, 2024) Mr. Navroz Darius Udwadia (up to December 12, 2024) Mr. Kartik Srivatsa (up to December 12, 2024) Mr. Kaushik Anand Kalyana Krishnan (up to December 12, 2024) Mr. Aditya Misra (w.e.f. September 28, 2024) Mr. Gaurav Malhotra (w.e.f. June 26,2024 to up to December 12, 2024) Entities over which KMP's have significant influence Aye Finance Employee Welfare Trust Entities exercising significant influence over the Company Elevation Capital V Limited (formerly known as SAIF Partners India V Ltd.) Alpha Wave India I LP (formerly known as Falcon Edge India I LP ) A91 Emerging Fund I LLP LGT Capital Invest Mauritius PCC with Cell E/VP CapitalG LP CapitalG International LLC British International Investment PLC w.e.f. January 05, 2024 Wholly - owned subsidiary company Foundation for Advancement of Micro Enterprises (Section 8 Company) Relatives of KMP Mr. Shashwat Sharma 36.2 Details of related party transactions and outstanding balances during the year / period Summary of related party transactions As at As at Year ended Year ended Year ended Particulars June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 (a) Managerial remuneration Short term employee benefits (Director) Mr. Sanjay Sharma 8.53 1 5.86 4 2.10 3 6.86 2 9.92 Short term employee benefits (Relative of Director) Mr. Shashwat Sharma 0.32 0 .51 1.50 1 .22 0 .53 Short term employee benefits (KMP other than directors) Mr. Mayank Shyam Thatte - - - 1 .35 9 .94 Mr. Krishan Gopal 3.61 5 .44 1 6.20 1 0.83 - Ms. Tripti Pandey - 0.27 0.30 3 .06 1 .54 Mr. Vipul Sharma 0.80 0 .33 2.70 - - Post employment benefits - - - - - Other long-term benefits - - - - - Termination benefits - - - - - Share based payments - Mr. Mayank Shyam Thatte - - - 1 .75 Mr. Krishan Gopal 2 .32 2.09 1 0.46 3.31 - Ms. Tripti Pandey - 0.03 0.02 0.18 0.25 Mr. Vipul Sharma 0.08 - 0.25 - - (i)Excludingprovisionforgratuityandcompensatedabsencesasthesame are actuarially determined for the Company as a whole and thus not separately ascertainable for the Director (b) Director's sitting fee 1 .10 0.94 5.47 3 .50 2 .50 (c) Grant of ESOPs (KMP) - - 3.90 3 .40 0 .10 (d) Corporate social responsibility Foundation for Advancement of Micro Enterprises (FAME) 5.21 5.00 1 7.48 9.36 5.00 44Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) (e) Rent received Foundation for Advancement of Micro Enterprises (FAME) 0.11 - 0.44 - - (f) Advances Given during the year Advance for CSR to FAME 34.66 20.00 20.00 10.00 - Foundation for Advancement of Micro Enterprises (FAME) - - 0.30 0.19 0.11 (g) Reimbursement received Balance against advance received back 2.52 - - 0.64 - Foundation for Advancement of Micro Enterprises (FAME) - - 0.30 0.19 0.11 (h) Loan given to KMP Mr. Krishan Gopal - - 3.32 - - Balance outstanding at the end of the period/year (i) (i) Long and Short term loans and advances As at As at As at As at As at Particulars June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Aye Finance Employee Welfare Trust - - - 1.25 1.25 Foundation for Advancement of Micro Enterprises (FAME) 29.45 15.00 2.52 - - Loan given to KMP (Mr. Krishan Gopal ) 2.46 - 3.32 - - 31.91 15.00 5.84 1.25 1.25 (i) (ii) Investment in subsidiary company As at As at As at As at As at Particulars June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Foundation for Advancement of Micro Enterprises (FAME)* - - - - 2 .50 - - - - 2 .50 * Refer Note no 6 (i) (iii) Dues to Directors As at As at As at As at As at Particulars June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Mr. Govinda Rajulu Chintala - - - 0.12 - Mr. Sanjaya Gupta - - - 0.09 - Ms. Kanika Tandon Bhal - - - 0.06 - - - - 0.27 - (j)Loansandadvancesinnatureofloansaregrantedtopromoters,directors,KMPsandtherelatedparties(asdefinedundertheCompaniesAct,2013),eitherseverallyorjointlywithanyotherpersonthatare (a) repayable on demand or (b) without specifying any terms or period of repayment Amount of loan or advance Percentage to the total loans and advances in the Type of borrower in nature of loan outstanding nature of loans Nil Nil (k)Alltherelatedpartytransactionsthatwereenteredduringthefinancialyearwereintheordinarycourseofbusinessandonanarm’slengthbasis.Therewerenomateriallysignificanttransactionsmadeby thecompanywiththerelatedpartieseitherindividuallyortakentogetherwiththeprevioustransactionswhichmayhaveapotentialconflictwiththeinterestofthecompanyatlarge.Alltherelatedparty transactions are placed before the Audit Committee and subsequently before the Board of Directors for approval and review on quarterly basis. 45Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) 37 Intangible asset under development As at As at As at As at As at Particulars June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Intangible asset under development 36.07 12.89 41.30 29.53 4.70 3 6.07 1 2.89 4 1.30 2 9.53 4 .70 37.1(a) Intangible asset under development ageing schedule As at J une 30, 2025 Intangible asset under Amount of Intangible asset under development for a period of Total development Less than 1 year 1 - 2 year 2 - 3 year More than 3 years Projects in progress ML APP* 2 8.69 7.38 - - 36.07 2 8.69 7.38 - - 36.07 *Project in progress is related with implementation of new workflow related to Mortgage loan and its expected completion date is December, 2025. As at J une 30, 2024 Intangible asset under Amount of Intangible asset under development for a period of Total development Less than 1 year 1 - 2 year 2 - 3 year More than 3 years Projects in progress Product Development App 5.06 - - - 5.06 ML APP 7.39 - - - 7.39 Adernalin 0.44 0.44 1 2.89 - - - 12.89 As at March 31, 2025 Intangible asset under Amount of Intangible asset under development for a period of Total development Less than 1 year 1 - 2 year 2 - 3 year More than 3 years Projects in progress Mobile App 3.60 - - - 3 .60 Product Development App 5.39 2.51 - - 7 .90 ML App 2 9.80 - - - 29.80 3 8.79 2.51 - - 41.30 As at March 31, 2024 Intangible asset under Amount of Intangible asset under development for a period of Total development Less than 1 year 1 - 2 year 2 - 3 year More than 3 years Projects in progress Product Development App 2 .53 - - - 2.53 ML APP 2 7.00 - - - 27.00 2 9.53 - - - 29.53 As at March 31, 2023 Intangible asset under Amount of Intangible asset under development for a period of Total development Less than 1 year 1 - 2 year 2 - 3 year More than 3 years Projects in progress Mobile App 4 .10 0.60 - - 4.70 4.10 0.60 - - 4 .70 46Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) 37.2 Movement of Intangible asset under development Product Development Adrenalin Particulars Mobile App ML APP Total App Development app Amount as at April 01, 2025 3.60 7.89 29.81 - 41.30 Additions During the period 0.15 - 6.26 - 6.41 Less: Amount capitalized in Intangible assets 3.75 7.89 - - 11.64 Balance as at June 30, 2025 - - 36.07 - 36.07 Amount as at April 01, 2024 - 2.53 27.00 - 29.53 Additions During the period - 2.53 7.78 0.44 10.75 Less: Amount capitalized in Intangible assets - 27.39 - 27.39 Balance as at June 30, 2024 - 5.06 7.39 0.44 12.89 Product Particulars Mobile App ML APP Adrenalin Total Development App Balance as at March 31, 2024 - 2.50 27.00 - 29.50 Additions During the year 3.60 5.39 30.20 1.4 40.59 Less: Amount capitalized in Intangible assets - - 27.39 1.4 28.79 Balance as at March 31, 2025 3.60 7.89 29.81 - 41.30 Amount as at March 2023 4.70 - - - 4.70 Additions During the year 2.30 2.53 27.00 - 31.83 Less: Amount capitalized in Intangible assets 7.00 - - - 7.00 Balance as at March 2024 - 2.53 27.00 - 29.53 Amount as at March, 2022 0.60 - - - 0.60 Additions During the year 4.10 - - - 4.10 Less: Amount capitalized in Intangible assets - - - - - Balance as at March 2023 4.70 - - - 4.70 Intangible asset under development Completion schedule There is no intangible asset under development for which completion is overdue or has exceeded its cost compared to its original plan in the company. 38 Ratio analysis and it's elements* As at As at Reason for Variance Ratio % Variance June 30, 2025 June 30, 2024 (if above 25%) (a) Capital to risk -weighted assets ratio (CRAR) 3 4.76% 3 2.91% 5 .62% Not applicable (b) Tier I CRAR 3 4.76% 3 2.91% 5 .62% Not applicable (c) Tier II CRAR 0.00% 0.00% 0.00% Not applicable (d) Liquidity coverage ratio 415.94% 165.71% 1 51.00% Refer note below Note:InJune2024,HQLAofRs.1,100.53millionswasbeingmaintainedagainstrequiredHQLAofRs.664.13MillionsandHQLAfortheperiodendingJun-2025hadbeenRs.2,585.48 MillionsowningtostrongliquiditypositionofthecompanyagainstRs.621.60MillionsofrequiredHQLA.Thus,LCRfortheJune-2025periodhaveincreasedto415.94%fromearlier 165.71% in June-24. As at As at Reason for Variance Ratio % Variance March 31, 2025 March 31, 2024 (if above 25%) (a) Capital to risk -weighted assets ratio (CRAR) 34.92% 32.79% 6 .49% Not applicable (b) Tier I CRAR 34.92% 32.79% 6 .49% Not applicable (c) Tier II CRAR 0.00% 0.00% 0.00% Not applicable (d) Liquidity coverage ratio 358.39% Not applicable Not applicable Not applicable As at As at Reason for Variance Ratio % Variance March 31, 2024 March 31, 2023 (if above 25%) (a) Capital to risk -weighted assets ratio (CRAR) 3 2.79% 3 1.07% 5 .52% Not applicable (b) Tier I CRAR 3 2.79% 3 1.07% 5 .52% Not applicable (c) Tier II CRAR 0.00% 0.00% 0.00% Not applicable (d) Liquidity coverage ratio Not applicable Not applicable Not applicable Not applicable * Based on the requirement of the Schedule III 47Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) 39 Employee share based payments* The Company at its Annual General Meeting (AGM) held on August 05, 2016 had approved an Employee Stock Option Plan 2016 (‘the Plan’) with initial pool of 19,32,080 options and had authorised the Company to issue stock options under the above plan. At the AGM held on September 30, 2019, additional 8,69,390 shares were added to this plan. The Company has provided loan to Aye Finance Employee Welfare Trust for purchase of total 28,01,470 Equity shares (ESOP Shares) from the existing shareholders. In Extraordinary General Meeting (EGM) held on November 10, 2020, the ESOP Plan 2016 was discontinued and balance 5,78,755 shares of ESOP pool were transferred to a new Employee Stock Option Plan (ESOP 2020 Plan). In the same EGM, resolution was passed for approval of a new Employee Stock Option Plan 2020 ('the ESOP 2020 Plan') with initial pool size of 31,64,590 options which has been increased to 44,08,640 options from time to time and authorised the Company to issue stock options under the above plan. In financial year 2024, to further enhance employee engagement and retention, the Company introduced a new Employee Stock Option Plan in 2024 ('the ESOP 2024 Plan'). At the Extraordinary General Meeting held on June 26, 2024, a total of 15,82,295 options were approved for the 2024 scheme. At the EGM held on August 16, 2024, additional 20,00,000 options were added to this plan and at the EGM held on September 28, 2024, another 20,00,000 options were added to this plan. The vesting period for the options in ESOP 2016 Plan, ESOP 2020 Plan and ESOP 2024 Plan is 4 years (with 10%, 20%, 30% and 40% annual vesting under the ESOP 2016 Plan and 25% annual vesting under the ESOP 2020 Plan and ESOP 2024 Plan) commencing from the date of grant of options. It is the intention of the Company that the options would be exercised at the time of the listing of the shares pursuant to the liquidity event as defined in the ESOP scheme. Fair valuation has been carried at the grant date using the Black-Scholes model. The shares of the Company are not listed on any stock exchange. Accordingly, the expected median volatility for listed peer group has been considered. Employee stock options details as on the balance sheet date are as follows:- ESOP Plan 2016* As at As at As at As at As at Particulars June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Outstanding at the beginning of the year/period 15,57,425 15,83,870 15,83,870 18,20,555 17,62,735 Options granted / Adjustments - - - - 83,175 Options lapsed - 26,445 26,445 2,36,685 25,355 Outstanding at the end of the period/ year 15,57,425 15,57,425 15,57,425 15,83,870 18,20,555 Vested options outstanding at the end of the period/year (Exercisable) 15,24,145 1 4,85,552 1 5,24,145 1 5,12,010 1 3,95,390 ESOP Plan 2020* As at As at As at As at As at Particulars June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Outstanding at the beginning of the year/period 44,04,421 48,15,795 48,15,795 24,34,285 15,76,870 Options granted / Adjustments - - 25,73,815 11,12,500 Options lapsed 11,582 3,76,026 4,11,374 1,92,305 2,55,085 Outstanding at the end of the period/ year 43,92,839 44,39,769 44,04,421 48,15,795 24,34,285 Vested options outstanding at the end of the period/year (Exercisable) 20,38,334 10,27,069 20,38,334 1 2,08,755 5,99,935 48Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) ESOP Plan 2024* As at As at As at As at As at Particulars June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Outstanding at the beginning of the year/period 14,92,460 - - - - Options granted / Adjustments - - 15,07,460 - - Options lapsed 13,850 - 15,000 - - Outstanding at the end of the period/ year 14,78,610 - 14,92,460 - - Vested options outstanding at the end of the period/year (Exercisable) - - - - - Weighted average fair value of stock options granted during the year is as follows*:- As at As at As at As at As at Particulars June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Grant date - - July 02, 2024 02-Jul-23 02-Jan-24 02-Jul-22 Weighted average fair value (Rs.) - - 74.38 49.45 47.96 65.19 *Impact of split has been considered Refer Note 32.1 Method used for accounting for share based payment plan TheCompanyhasusedthefairvaluemethodtoaccountforthecompensationcostofstockoptionstoemployees.ThefairvalueofoptionsusedareestimatedonthedateofgrantusingtheBlack–ScholesModel.Thekeyassumptionsusedin Black–Scholes Model for calculating fair value as on the date of respective grants are: Fair value of the underlying Expected share in the market at the Grant date ESOP Plan Exercise Price* Risk free interest rate Expected life Dividend yield Conversion Ratio volatility** time of the option grant (Rs.))# and * January 02, 2017 Scheme 2016 Plan 5.80 6.57% 4.25 Years 0.00% 0.00% 14.40 1:1 June 02, 2017 Scheme 2016 Plan 5.80 7%-7.21% 3.97 Years 0.01% 0.00% 14.40 1:1 January 02, 2018 Scheme 2016 Plan 5.80 7%-7.21% 3.85 Years 0.01% 0.00% 22.29 1:1 July 02, 2018 Scheme 2016 Plan 5.80 7.74%-7.96% 3.33 Years 0.01% 0.00% 51.25 1:1 July 02, 2019 Scheme 2016 Plan 5.80 6.26%-6.63% 3.25 Years 0.01% 0.00% 89.47 1:1 July 02, 2020 Scheme 2016 Plan 5.80 4.89% 4.5 Years 41.97% 0.00% 123.17 1:1 January 02, 2021 Scheme 2020 Plan 123.17 5.04% 4 Years 42.44% 0.00% 123.17 1:1 July 02, 2021 Scheme 2016 Plan 5.80 5.66% 4.17 Years 50.06% 0.00% 123.17 1:1 January 02, 2022 Scheme 2020 Plan 123.17 6.09% 3.25 Years 48.96% 0.00% 123.17 1:1 July 02, 2022 Scheme 2020 Plan 123.17 7.41% 3.44 Years 48.39% 0.00% 138.60 1:1 January 02, 2023 Scheme 2020 Plan 123.17 7.15% 3.12 Years 46.71% 0.00% 138.60 1:1 July 02, 2023 Scheme 2020 Plan 123.17 6.99% 2.87 Years 43.22% 0.00% 130.00 1:1 January 02, 2024 Scheme 2020 Plan 123.17 7.21% 2.75 Years 41.15% 0.00% 130.82 1:1 July 02, 2024 Scheme 2024 Plan 140.00 7.07% 2.64 years 41.27% 0.00% 175.21 1:1 *Impact of split has been considered Refer Note 32.1 **The share of the company are not listed on any stock exchange accordingly, the expected median volatility for listed peer group has been considered. # FV of shares of the Company is the Fair Value of the shares of the Company as on the grant date. Shares are exercisable on the occurrence of a Liquidity Event which primarily is the listing of the shares of the Company on a Stock Exchange via an Initial Public Offering. 49Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) 40 Income taxes Thisnoteprovidesananalysisofthecompany’sincometaxexpense,showamountsthatarerecogniseddirectlyinequityandhowthetaxexpenseisaffectedbynon-assessableandnon- deductible items. It also explains significant estimates made in relation to the company’s tax positions. Three months ended Three months ended Year ended Year ended Year ended Particulars June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 (a) Income tax expense Current tax Current tax on profits for the year/period 1 41.73 2 53.98 6 65.52 7 06.29 1 45.32 Total current tax (benefit) / expense 1 41.73 2 53.98 6 65.52 7 06.29 1 45.32 Deferred tax Expense / (Credit) recognised in statement of profit and loss ( 33.53) ( 48.68) ( 167.92) ( 144.52) 1 69.91 Total deferred tax expense / (benefit) ( 33.53) ( 48.68) ( 167.92) ( 144.52) 1 69.91 Income tax expense recognised in the statement of profit and 1 08.20 2 05.30 4 97.60 5 61.77 3 15.23 loss Deferred tax relating to other comprehensive income ( 0.51) 3 .00 2 .49 1 .50 ( 10.02) (b) Reconciliation of tax expense and the accounting profit multiplied by India's tax rate: ThetaxchargeshowninthestatementofprofitandlossdiffersfromthetaxchargethatwouldapplyifallprofitshadbeenchargedatIndiacorporatetaxrate.Areconciliationbetweenthe tax expense and the accounting profit multiplied by India’s domestic tax rate are as follows:- Three months ended Three months ended Year ended Year ended Year ended Particulars June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Profit before income tax expense 4 08.89 8 14.72 2 ,250.12 2 ,278.56 7 13.96 Applicable tax rate 25.17% 25.17% 25.17% 25.17% 25.17% Computed tax (gain) / expense 1 02.91 2 05.05 5 66.31 5 73.47 1 79.69 Tax effect of : Effect of expenses that are non-deductible in determining taxable 1 .03 1 .26 5 .79 3 .02 2 .43 profit Effect of tax incentives and concessions - ( 9.44) ( 62.44) ( 50.10) ( 40.94) Others 4 .26 8 .43 ( 12.06) 3 5.38 1 74.05 Income tax expense recognised in the statement of profit and 1 08.20 2 05.30 4 97.60 5 61.77 3 15.23 loss (c) Deferred tax assets / liabilities As at Statement of profit Other comprehensive As at Components of deferred tax assets / (liabilities) Others April 01, 2025 and loss income June 30, 2025 Measurement of financial assets at amortised cost 5 88.47 5 4.10 - - 642.57 Measurement of financial liabilities at amortised cost ( 64.59) 7 .72 - - (56.87) Differenceinbookbalanceofproperty,plantandequipmentas 1 5.62 0 .83 - - 16.45 per the Companies Act and the Income Tax Act Provision for gratuity and compensated absences 4 7.72 8 .25 (0.51) - 55.46 Others 2 2.56 ( 37.37) - - (14.81) 609.78 33.53 (0.51) - 642.80 Components of deferred tax assets / As at Statement of profit Other comprehensive As at Others (liabilities) April 01, 2024 and loss income June 30, 2024 Measurement of financial assets at amortised cost 435.07 6 5.40 - - 500.47 Measurement of financial liabilities at amortised cost (46.17) ( 25.66) - - (71.83) Differenceinbookbalanceofproperty,plantandequipmentas 9.07 0 .83 - - 9.90 per the Companies Act and the Income Tax Act Provision for gratuity and compensated absences 33.24 7 .65 3.00 - 43.89 Income tax losses - - - - - Others 8.16 0 .46 - - 8.62 439.37 48.68 3 .00 - 491.05 Components of deferred tax assets / As at Statement of profit Other comprehensive As at Others (liabilities) April 01, 2024 and loss income March 31, 2025 Measurement of financial assets at amortised cost 435.07 153.40 - - 588.47 Measurement of financial liabilities at amortised cost (46.17) -18.42 - - (64.59) Differenceinbookbalanceofproperty,plantandequipmentas 9.07 6.55 - - 15.62 per the Companies Act and the Income Tax Act Provision for gratuity and compensated absences 33.24 11.99 2.49 - 47.72 Others 8.16 14.40 - - 22.56 439.37 167.92 2 .49 - 609.78 50Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) Components of deferred tax assets / As at Statement of profit Other comprehensive As at Others (liabilities) April 01, 2023 and loss income March 31, 2024 Measurement of financial assets at amortised cost 210.80 2 24.27 - - 435.07 Measurement of financial liabilities at amortised cost (35.30) ( 10.87) - - (46.17) Differenceinbookbalanceofproperty,plantandequipmentas 10.09 ( 1.02) - - 9.07 per the Companies Act and the Income Tax Act Provision for gratuity and compensated absences 25.66 6 .08 1.50 - 33.24 Income tax losses 72.90 ( 72.90) - - - Others 9.20 ( 1.04) - - 8.16 293.35 144.52 1 .50 - 439.37 Components of deferred tax assets / As at Statement of profit Other comprehensive As at Others (liabilities) April 01, 2022 and loss income March 31, 2023 Measurement of financial assets at amortised cost 262.50 ( 51.70) - - 210.80 Measurement of financial liabilities at amortised cost (34.70) ( 0.60) - - (35.30) Differenceinbookbalanceofproperty,plantandequipmentas 7.00 3 .09 - - 10.09 per the Companies Act and the Income Tax Act Provision for gratuity and compensated absences 37.98 ( 2.30) (10.02) - 25.66 Income tax losses 169.70 ( 96.80) - - 72.90 Others 30.80 ( 21.60) - - 9.20 473.28 ( 169.91) (10.02) - 293.35 41 The Company has made provision, as required under the applicable law or Ind AS, for material foreseeable losses, if any, on long-term contracts including derivative contracts. 42 There are no amounts which were required to be transferred to the Investor Educational and Protection Fund by the Company. 43 The Company does not have any year / period end unhedged foreign currency exposures. 44 Standards issued but not yet effective ThereareneithernewstandardsnoramendmentstoexistingstandardswhichhaseffectonthecurrentfinancialstatementsandareeffectivefortheannualperiodbeginningfromApril1, 2025. 45 Disclosures relating to securitisation 45.1 The information on securitisation of the Company as an originator in respect of securitisation transaction done during the year is given below: Three Months ended Three Months ended Year ended Year ended Year ended Particulars June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 (a) Total number of transactions entered during the year/period 2 .00 5 .00 12.00 21.00 17.00 (b) Total number of loan assets 3 6,498.00 4 9,010.00 1,15,168.00 1,27,296.00 1,06,700.00 (c) Total book value of loan assets 4 ,135.78 5 ,428.49 1 3,228.90 1 3,363.00 8 ,503.50 (d) Sale consideration received 3 ,796.68 5 ,012.74 1 2,212.62 1 2,159.70 7 ,768.50 51Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) 45.2 Disclosure pursuant to RBI notification - RBI/DOR/2021-22/85 DOR.STR.REC.53/21.04.177/2021-22 dated September 24, 2021: Details of securitisation transaction during the years / periods. Three Months ended Three Months ended Year ended Year ended Year ended Particulars June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 (a) No. of SPV's sponsored by NBFC for securitisation transactions 2 5 1 2 2 1 1 7 (b) Total amount of securitised assets as per books of SPVs 4 ,135.78 5 ,428.49 1 3,228.90 1 3,363.00 8 ,503.50 sponsored by the NBFC (c)TotalamountofexposuresretainedbytheNBFCtocomply - - - - - with MRR as on the date of balance sheet Off-balance sheet exposures (i) First loss - - - - - (ii) Others - - - - - On-balance sheet exposures (i) First loss 1 ,577.08 1 ,737.20 1 ,411.80 1 ,474.48 774.47 (ii) Others (MRR including securitisation investments) 1 ,559.57 1 ,083.25 1 ,159.79 785.70 734.90 (d) Amount of exposures to securitization transactions other than Off-balance sheet exposures Exposure to own securitization (i) First loss - - - - - (ii) Loss - - - - - Exposure to third party securitisation (i) First loss - - - - - (ii) Loss - - - - - On-balance sheet exposures Exposure to own securitization (i) First loss - - - - - (ii) Loss - - - - - Exposure to third party securitisation (i) First loss - - - - - (ii) Loss - - - - (e) Sale consideration received for the securitised assets and gain/loss on sale on account of securitisation 3 ,796.68 5 ,012.74 1 2,212.62 1 2,159.70 7 ,768.50 (f)Formandquantum(outstandingvalue)ofservicesprovidedby way of, liquidity support, post-securitisation asset servicing, etc. - - - - - (g) Performance of facility provided: Credit enhancement facility Fixed deposit (i) Amount paid 1 ,577.08 1 ,737.20 1 ,411.80 1,474.48 774.47 (ii) Repayment received - - - - - (iii) Outstanding amount 1 ,577.08 1 ,737.20 1 ,411.80 1 ,474.48 774.47 Corporate guarantee (i) Amount paid - - - - - (ii) Repayment received - - - - - (iii) Outstanding amount - - - - - (h) Average default rate of portfolios observed in the past 0.00% 0.00% 2.45% 1.03% 0.46% (i)Amountandnumberofadditional/topuploangivenonsame - - - - - underlying asset (j) Investor complaints Directly / Indirectly received and; NIL NIL Nil NIL NIL Complaints outstanding NIL NIL Nil NIL NIL 52Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) 46 Disclosure on restructuring pursuant to Reserve Bank of India notification DNBS.CO.PD. No. 367/03.10.01/2013-14 dated January 23, 2014 46.1 For the three months ended June 30, 2025 No of borrowers - - - - - - - - - - - 4 01.00 - - 4 01.00 - 4 01.00 - - 4 01.00 Amount Outstanding - - - - - - - - - - - 4 0.93 - - 4 0.93 - 4 0.93 - - 4 0.93 Provision thereon - - - - - - - - - - - 2 8.77 - - 2 8.77 - 2 8.77 - - 2 8.77 No of borrowers - - - - - - - - - - - 1 41.00 - - 1 41.00 - 1 41.00 - - 1 41.00 Amount Outstanding - - - - - - - - - - - 1 6.31 - - 1 6.31 - 1 6.31 - - 1 6.31 Provision thereon - - - - - - - - - - - 1 1.45 - - 1 1.45 - 1 1.45 - - 1 1.45 No of borrowers - - - - - - - - - - - - - - - - - - - - Amount Outstanding - - - - - - - - - - - - - - - - - - - - Provision thereon - - - - - - - - - - - - - - - - - - - - No of borrowers - - - - - - - - - - - (6.00) - - ( 6.00) - ( 6.00) - - ( 6.00) Amount Outstanding - - - - - - - - - - - (2.22) - - ( 2.22) - ( 2.22) - - ( 2.22) Provision thereon - - - - - - - - - - - (1.49) - - ( 1.49) - ( 1.49) - - ( 1.49) No of borrowers - - - - - - - - - - - - - - - - - - - - Amount Outstanding - - - - - - - - - - - - - - - - - - - - Provision thereon - - - - - - - - - - - - - - - - - - - - No of borrowers - - - - - - - - - - - ( 16.00) - - ( 16.00) - ( 16.00) - - ( 16.00) Amount Outstanding - - - - - - - - - - - ( 2.02) - - ( 2.02) - ( 2.02) - - ( 2.02) Provision thereon - - - - - - - - - - - ( 1.42) - - ( 1.42) - ( 1.42) - - ( 1.42) No of borrowers - - - - - - - - - - - 5 20.00 - - 5 20.00 - 5 20.00 - - 5 20.00 Amount Outstanding - - - - - - - - - - - 5 3.00 - - 5 3.00 - 5 3.00 - - 5 3.00 Provision thereon - - - - - - - - - - - 3 7.31 - - 3 7.31 - 3 7.31 - - 3 7.31 * Excluding the figures of standard restructured advances which do not attract higher provisioning or risk weight (if applicable). 46.2 For the three months ended June 30, 2024 No of borrowers - - - - - - - - - - - 2 62.00 - - 2 62.00 - 2 62.00 - - 2 62.00 Amount Outstanding - - - - - - - - - - - 2 4.30 - - 2 4.30 - 2 4.30 - - 2 4.30 Provision thereon - - - - - - - - - - - 1 6.90 - - 1 6.90 - 1 6.90 - - 1 6.90 No of borrowers - - - - - - - - - - - 4 3.00 - - 4 3.00 - 4 3.00 - - 4 3.00 b Fresh restructuring during the period Amount Outstanding - - - - - - - - - - - 5 .39 - - 5 .39 - 5 .39 - - 5 .39 Provision thereon - - - - - - - - - - - 3 .69 - - 3 .69 - 3 .69 - - 3 .69 No of borrowers - - - - - - - - - - - - - - - - - - - - c Upgradations to restructured standard category during the period Amount Outstanding - - - - - - - - - - - - - - - - - - - - Provision thereon - - - - - - - - - - - - - - - - - - - - Restructured standard advances which cease to attract higher provisioning and / or No of borrowers - - - - - - - - - - - 2 .00 - - 2 .00 - 2 .00 - - 2 .00 d additional risk weight at the end of the FY and hence need not be shown as Amount Outstanding - - - - - - - - - - - (1.14) - - ( 1.14) - ( 1.14) - - ( 1.14) restructured standard advances at the beginning of the next period Provision thereon - - - - - - - - - - - (0.85) - - ( 0.85) - ( 0.85) - - ( 0.85) No of borrowers - - - - - - - - - - - - - - - - - e Down gradations of restructured accounts during the period Amount Outstanding - - - - - - - - - - - - - - - - - Provision thereon - - - - - - - - - - - - - - - - - No of borrowers - - - - - - - - - - - (37.00) - - ( 37.00) - ( 37.00) - - ( 37.00) f Write-offs of restructured accounts during the period Amount Outstanding - - - - - - - - - - - (2.27) - - ( 2.27) - ( 2.27) - - ( 2.27) Provision thereon - - - - - - - - - - - (1.65) - - ( 1.65) - ( 1.65) - - ( 1.65) No of borrowers - - - - - - - - - - - 270.00 - - 2 70.00 - 2 70.00 - - 2 70.00 g Restructured accounts as on June 30 of the FY (closing figures*) Amount Outstanding - - - - - - - - - - - 26.28 - - 2 6.28 - 2 6.28 - - 2 6.28 Provision thereon - - - - - - - - - - - 18.09 - - 1 8.09 - 1 8.09 - - 1 8.09 * Excluding the figures of standard restructured advances which do not attract higher provisioning or risk weight (if applicable). luftbuoD ssoL latoT Details a Restructured accounts as on April 1 of the FY (opening figures)* luftbuoD ssoL latoT dradnatS -buS dradnatS Under SME Debt Restructuring Others Total Asset Classification dradnatS -buS dradnatS luftbuoD ssoL latoT dradnatS -buS dradnatS luftbuoD ssoL latoT dradnatS -buS dradnatS a Restructured accounts as on April 1 of the FY (opening figures)* b Fresh restructuring during the period c Upgradations to restructured standard category during the period Restructured standard advances which cease to attract higher provisioning and / or d additional risk weight at the end of the FY and hence need not be shown as restructured standard advances at the beginning of the next period e Down gradations of restructured accounts during the period f Write-offs of restructured accounts during the period g Restructured accounts as on June 30 of the FY (closing figures*) Type of Restructuring Under CDR Mechanism Sr. No. dradnatS -buS dradnatS luftbuoD Sr. No. ssoL latoT Total Asset Classification dradnatS -buS dradnatS luftbuoD ssoL latoT dradnatS -buS dradnatS luftbuoD ssoL latoT dradnatS -buS dradnatS luftbuoD ssoL Type of Restructuring Under CDR Mechanism Under SME Debt Restructuring Others latoT Details 53Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) 46 Disclosure on restructuring pursuant to Reserve Bank of India notification DNBS.CO.PD. No. 367/03.10.01/2013-14 dated January 23, 2014 46.3 For the year March 31, 2025 No of borrowers - - - - - - - - - - - 262.00 - - 262.00 - 2 62.00 - - 262.00 Amount Outstanding - - - - - - - - - - - 24.30 - - 24.30 - 2 4.30 - - 2 4.30 Provision thereon - - - - - - - - - - - 16.90 - - 16.90 - 1 6.90 - - 1 6.90 No of borrowers - - - - - - - - - - - 248.00 - - 248.00 - 2 48.00 - - 248.00 Amount Outstanding - - - - - - - - - - - 29.20 - - 29.20 - 2 9.20 - - 2 9.20 Provision thereon - - - - - - - - - - - 20.58 - - 20.58 - 2 0.58 - - 2 0.58 No of borrowers - - - - - - - - - - - - - - - - - - - - Amount Outstanding - - - - - - - - - - - - - - - - - - - - Provision thereon - - - - - - - - - - - - - - - - - - - - No of borrowers - - - - - - - - - - - (22.00) - - (22.00) - ( 22.00) - - (22.00) Amount Outstanding - - - - - - - - - - - (3.87) - - (3.87) - ( 3.87) - - (3.87) Provision thereon - - - - - - - - - - - (3.09) - - (3.09) - ( 3.09) - - (3.09) No of borrowers - - - - - - - - - - - - - - - - - - - - Amount Outstanding - - - - - - - - - - - - - - - - - - - - Provision thereon - - - - - - - - - - - - - - - - - - - - No of borrowers - - - - - - - - - - - (87.00) - - (87.00) - ( 87.00) - - (87.00) Amount Outstanding - - - - - - - - - - - (8.70) - - (8.70) - ( 8.70) - - (8.70) Provision thereon - - - - - - - - - - - (5.62) - - (5.62) - ( 5.62) - - (5.62) No of borrowers - - - - - - - - - - - 401.00 - - 401.00 - 4 01.00 - - 401.00 Amount Outstanding - - - - - - - - - - - 40.93 - - 40.93 - 4 0.93 - - 4 0.93 Provision thereon - - - - - - - - - - - 28.77 - - 28.77 - 2 8.77 - - 2 8.77 latoT Type of Restructuring Under CDR Mechanism Under SME Debt Restructuring Others Total Asset Classification Sr. No. Details a Restructured accounts as on April 1 of the FY (opening figures)* b Fresh restructuring during the year c Upgradations to restructured standard category during the FY dradnatS -buS dradnatS luftbuoD ssoL latoT dradnatS -buS dradnatS latoT ssoL Restructured standard advances which cease to attract higher provisioning and / or d additional risk weight at the end of the FY and hence need not be shown as restructured standard advances at the beginning of the next FY e Down gradations of restructured accounts during the FY f Write-offs of restructured accounts during the FY g Restructured accounts as on March 31 of the FY (closing figures*) luftbuoD ssoL dradnatS -buS dradnatS luftbuoD ssoL latoT dradnatS -buS dradnatS luftbuoD 54Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) 46 Disclosure on restructuring pursuant to Reserve Bank of India notification DNBS.CO.PD. No. 367/03.10.01/2013-14 dated January 23, 2014 46.4 For the year March 31, 2024 No of borrowers - - - - - - - - - - - 2 88.00 - - 2 88.00 - 2 88.00 - - 2 88.00 Amount Outstanding - - - - - - - - - - - 2 9.80 - - 2 9.80 - 2 9.80 - - 2 9.80 Provision thereon - - - - - - - - - - - 2 0.20 - - 2 0.20 - 2 0.20 - - 2 0.20 No of borrowers - - - - - - - - - - - 8 0.00 - - 8 0.00 - 8 0.00 - - 8 0.00 b Fresh restructuring during the year Amount Outstanding - - - - - - - - - - - 8 .60 - - 8 .60 - 8 .60 - - 8 .60 Provision thereon - - - - - - - - - - - 6 .10 - - 6 .10 - 6 .10 - - 6 .10 No of borrowers - - - - - - - - - - - - - - - - - - - - Amount Outstanding - - - - - - - - - - - - - - - - - - - - Provision thereon - - - - - - - - - - - - - - - - - - - - No of borrowers - - - - - - - - - - - ( 33.00) - - ( 33.00) - ( 33.00) - - ( 33.00) Amount Outstanding - - - - - - - - - - - ( 5.50) - - ( 5.50) - ( 5.50) - - ( 5.50) Provision thereon - - - - - - - - - - - ( 3.20) - - ( 3.20) - ( 3.20) - - ( 3.20) No of borrowers - - - - - - - - - - - - - - - - - - - - Amount Outstanding - - - - - - - - - - - - - - - - - - - - Provision thereon - - - - - - - - - - - - - - - - - - - - No of borrowers - - - - - - - - - - - ( 73.00) - - ( 73.00) - ( 73.00) - - ( 73.00) Amount Outstanding - - - - - - - - - - - ( 8.60) - - ( 8.60) - ( 8.60) - - ( 8.60) Provision thereon - - - - - - - - - - - ( 6.20) - - ( 6.20) - ( 6.20) - - ( 6.20) No of borrowers - - - - - - - - - - - 2 62.00 - - 2 62.00 - 2 62.00 - - 2 62.00 Amount Outstanding - - - - - - - - - - - 2 4.30 - - 2 4.30 - 2 4.30 - - 2 4.30 Provision thereon - - - - - - - - - - - 1 6.90 - - 1 6.90 - 1 6.90 - - 1 6.90 * Excluding the figures of Standard Restructured Advances which do not attract higher provisioning or risk weight (if applicable). 46.5 For the year March 31, 2023 No of borrowers - - - - - - - - - - 4 16.00 2 0.00 - - 4 36.00 4 16.00 2 0.00 - - 4 36.00 Amount Outstanding - - - - - - - - - - 4 3.11 2 .21 - - 4 5.33 4 3.11 2 .21 - - 4 5.33 Provision thereon - - - - - - - - - - 1 6.76 1 .48 - - 1 8.24 1 6.76 1 .48 - - 1 8.24 No of borrowers - - - - - - - - - - - 9 4.00 - - 9 4.00 - 9 4.00 - - 9 4.00 Amount Outstanding - - - - - - - - - - - 1 1.92 - - 1 1.92 - 1 1.92 - - 1 1.92 Provision thereon - - - - - - - - - - - 7 .85 - - 7 .85 - 7 .85 - - 7 .85 No of borrowers - - - - - - - - - - - - - - - - - - - - Amount Outstanding - - - - - - - - - - - - - - - - - - - - Provision thereon - - - - - - - - - - - - - - - - - - - - No of borrowers - - - - - - - - - - ( 10.00) - - - ( 10.00) ( 10.00) - - - ( 10.00) Amount Outstanding - - - - - - - - - - ( 0.64) - - - ( 0.64) ( 0.64) - - - ( 0.64) Provision thereon - - - - - - - - - - ( 0.26) - - - ( 0.26) ( 0.26) - - - ( 0.26) No of borrowers - - - - - - - - - - ( 406.00) 4 06.00 - - - ( 406.00) 4 06.00 - - - Amount Outstanding - - - - - - - - - - ( 42.48) 4 2.48 - - - ( 42.48) 4 2.48 - - - Provision thereon - - - - - - - - - - ( 16.50) 1 6.50 - - - ( 16.50) 1 6.50 - - - No of borrowers - - - - - - - - - - - 2 32.00 - - 2 32.00 - 2 32.00 - - 2 32.00 Amount Outstanding - - - - - - - - - - - 2 6.81 - - 2 6.81 - 2 6.81 - - 2 6.81 Provision thereon - - - - - - - - - - - 5 .60 - - 5 .60 - 5 .60 - - 5 .60 No of borrowers - - - - - - - - - - - 2 88.00 - - 2 88.00 - 2 88.00 - - 2 88.00 Amount Outstanding - - - - - - - - - - - 2 9.80 - - 2 9.80 - 2 9.80 - - 2 9.80 Provision thereon - - - - - - - - - - - 2 0.20 - - 2 0.20 - 2 0.20 - - 2 0.20 * Excluding the figures of standard restructured advances which do not attract higher provisioning or risk weight (if applicable). -buS dradnatS luftbuoD ssoL latoT dradnatS -buS dradnatS luftbuoD ssoL latoT Under SME Debt Restructuring Others Sr. No. Details a Restructured accounts as on April 1 of the FY (opening figures)* Sr. No. Restructured accounts as on April 1 of the FY (opening figures)* Fresh restructuring during the year e g Restructured accounts as on March 31 of the FY (closing figures*) -buS dradnatS luftbuoD -buS dradnatS c Upgradations to restructured standard category during the FY Restructured standard advances which cease to attract higher provisioning and / or d additional risk weight at the end of the FY and hence need not be shown as restructured standard advances at the beginning of the next FY/period e Down gradations of restructured accounts during the FY f Write-offs of restructured accounts during the FY g Restructured accounts as on March 31 of the FY (closing figures*) a b c Upgradations to restructured standard category during the FY Restructured standard advances which cease to attract higher provisioning and / or d additional risk weight at the end of the FY and hence need not be shown as restructured standard advances at the beginning of the next FY Down gradations of restructured accounts during the FY f Write-offs of restructured accounts during the FY latoT ssoL Type of Restructuring Under CDR Mechanism Under SME Debt Restructuring Others Total latoT Details dradnatS -buS dradnatS luftbuoD ssoL latoT dradnatS Asset Classification dradnatS -buS dradnatS luftbuoD ssoL latoT dradnatS ssoL luftbuoD Total Asset Classification dradnatS -buS dradnatS luftbuoD ssoL latoT dradnatS Type of Restructuring Under CDR Mechanism dradnatS -buS dradnatS luftbuoD ssoL latoT 55Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) 47 Maturity analysis of assets and liabilities The table below shows an analysis of assets and liabilities analysed according to when they are expected to be recovered or settled. As at June 30, 2025 As at June 30, 2024 As at M arch 31, 2025 As at M arch 31, 2024 As at M arch 31, 2023 Particulars Within After Within After Within After Within After Within After Total Total Total Total Total 12 months 12 months 12 months 12 months 12 months 12 months 12 months 12 months 12 months 12 months Financial assets Cash and cash equivalents 10,264.24 - 10,264.24 9,324.57 - 9,324.57 9,311.58 - 9,311.58 5 ,265.89 - 5,265.89 2 ,726.29 - 2,726.29 Bank balance other than cash 1,794.40 455.95 2,250.35 1,374.75 464.77 1,839.52 1,768.95 298.36 2,067.31 1 ,607.50 429.20 2,036.70 554.40 659.77 1,214.16 and cash equivalents Derivative financial instruments 99.37 - 99.37 - - - 2.41 - 2.41 - - - 30.70 - 30.70 Loans 24,704.80 26,350.79 51,055.59 21,074.79 21,628.83 42,703.62 24,313.60 25,188.53 49,502.13 1 9,764.53 20,266.71 40,031.24 1 4,312.99 11,241.44 25,554.43 Investments 79.90 629.47 709.37 106.10 172.88 278.98 28.23 389.40 417.63 106.09 - 106.09 844.60 - 844.60 Other financial assets 459.82 283.72 743.54 357.90 37.98 395.88 377.45 228.61 606.06 272.05 34.50 306.55 201.45 26.67 228.12 Non-financial assets Current tax assets (Net) 157.14 - 157.14 104.00 - 104.00 184.11 - 184.11 82.77 - 82.77 - 40.69 40.69 Deferred tax assets (Net) - 642.80 642.80 - 491.05 491.05 - 609.78 609.78 - 439.37 439.37 - 293.35 293.35 Property, plant and equipment - 120.81 120.81 - 98.98 98.98 - 121.04 121.04 - 89.61 89.61 - 54.65 54.65 Right of use assets - 288.03 288.03 - 249.28 249.28 - 262.65 262.65 - 214.31 214.31 - 211.50 211.50 Intangible assets under - 36.07 36.07 - 12.89 12.89 - 41.30 41.30 - 29.53 29.53 - 4 .70 4.70 development Other intangible assets - 30.44 30.44 - 41.54 41.54 - 22.50 22.50 - 13.20 13.20 - 5 .50 5.50 Other non-financial assets 259.55 0.50 260.05 132.75 1.14 133.89 237.10 0.68 237.78 79.37 1 .30 80.67 51.30 - 51.30 Total assets 3 7,819.21 2 8,838.59 6 6,657.80 3 2,474.86 2 3,199.34 55,674.20 3 6,223.43 2 7,162.85 6 3,386.28 2 7,178.20 2 1,517.73 48,695.93 1 8,721.73 1 2,538.27 31,259.99 Financial liabilities Derivative financial instruments - - - 44.84 - 44.84 31.52 - 31.52 - - - - - - Debt securities 6,208.20 8,121.64 14,329.84 4,095.46 9 ,388.68 13,484.14 6 ,349.30 7 ,831.99 1 4,181.29 5 ,037.10 5 ,186.33 10,223.43 4 ,800.80 4,197.70 8,998.50 Borrowings (other than debt 15,283.29 18,473.05 33,756.34 16,363.05 11,547.79 27,910.84 1 5,678.90 9 ,087.57 24,766.47 9 ,675.10 4,288.01 13,963.11 securities) 1 5,743.40 1 5,338.56 3 1,081.96 Lease liability 98.32 210.45 308.77 88.53 185.61 274.14 95.20 188.91 284.11 69.70 166.61 236.31 69.70 173.20 242.90 Other financial liabilities 500.26 9.90 510.16 529.09 4 .20 533.29 481.30 - 481.30 554.23 - 554.23 160.65 - 160.65 Non-Financial Liabilities Current tax liabilities (Net) 83.92 - 83.92 0 .03 - 0 .03 45.76 - 45.76 - - - - - - Provisions 308.01 215.29 523.30 105.06 168.82 273.88 281.40 151.94 433.34 152.61 150.25 302.86 145.30 81.41 226.70 Other non-financial liabilities 230.45 - 230.45 223.02 - 223.02 289.84 - 289.84 254.64 - 254.64 123.20 - 123.20 Total liabilities 2 2,712.46 2 7,030.33 4 9,742.78 2 1,449.08 2 1,295.10 4 2,744.18 23,286.20 23,511.40 46,797.60 2 1,778.70 1 4,590.76 3 6,369.46 1 4,974.75 8 ,740.32 2 3,715.06 Net Amount 1 6,915.02 1 2,930.02 1 6,588.68 1 2,326.47 7 ,544.93 56Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) 48 Capital TheCompanymaintainsanactivelymanagedcapitalbasetocoverrisksinherentinthebusinessandismeetingthecapitaladequacyrequirementsofthelocalbankingsupervisor, Reserve Bank of India (RBI). The adequacy of the Company’s capital is monitored using, among other measures, the regulations issued by RBI. TheCompanyhascompliedinfullwithallitsexternallyimposedcapitalrequirementsoverthereportedperiod.Equitysharecapitalandotherequityareconsideredforthepurpose of Company’s capital management. Capital management TheprimaryobjectivesoftheCompany’scapitalmanagementpolicyaretoensurethattheCompanycomplieswithexternallyimposedcapitalrequirementsandmaintainsstrong credit ratings and healthy capital ratios in order to support its business and to maximise shareholder value. TheCompanymanagesitscapitalstructureandmakesadjustmentstoitaccordingtochangesineconomicconditionsandtheriskcharacteristicsofitsactivities.Inordertomaintain oradjustthecapitalstructure,theCompanymayadjusttheamountofdividendpaymenttoshareholders,returncapitaltoshareholdersorissuecapitalsecurities.Nochangeshave been made to the objectives, policies and processes from the previous years. However, they are under constant review by the Board. Regulatory capital As at As at As at As at June 30, 2025 As at June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Tier I capital 1 4,227.24 1 0,960.24 1 4,295.19 10,587.63 6,563.76 Tier II capital - - - - - Total capital 1 4,227.24 1 0,960.24 1 4,295.19 10,587.63 6,563.76 Risk weighted assets 4 0,933.50 3 3,306.50 4 0,940.80 3 2,292.76 21,124.92 CRAR (%) * 34.76% 32.91% 34.92% 3 2.79% 31.07% Tier I capital (%) 34.76% 32.91% 34.92% 3 2.79% 31.07% Tier II capital (%) - - - - - * The above ratio has been computed in accordance with the relevant guidelines issued by the RBI. TierIiscapitalcomputedbasisthemethodprovidedbytheregulatorasatthelastdayofrelevantfiscalyear/period.TierIIcapitalconsistsofgeneralprovisionandlossreserve against standard assets . Tier I and Tier II has been reported on the basis of Ind AS financial information. 57Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) 49 Financial risk management framework TheCompany'sprincipalfinancialliabilitiescompriseborrowingsfrombanksanddebentures.ThemainpurposeofthesefinancialliabilitiesistofinancetheCompany'soperationsandtosupportitsoperations.TheCompany'sfinancialassetsinclude loan and advances, investments and cash and cash equivalents that derive directly from its operations. Inthecourseofitsbusiness,theCompanyisexposedtocertainfinancialrisksnamelycreditrisk,interestrisk,pricerisk,currencyrisk&liquidityrisk.TheCompany’sprimaryfocusistoachievebetterpredictabilityoffinancialmarketsandseekto minimize potential adverse effects on its financial performance. TheCompany’sboardofdirectorshasanoverallresponsibilityfortheestablishmentandoversightoftheCompany’sriskmanagementframework.Theboardofdirectorshasestablishedtheriskmanagementcommitteeandassetliabilitycommittee, which is responsible for developing and monitoring the Company’s risk management policies. The committee reports regularly to the board of directors on its activities. TheCompany’sriskmanagementpoliciesareestablishedtoidentifyandanalysetherisksfacedbytheCompany,tosetappropriaterisklimitsandcontrolsandtomonitorrisksandadherencetolimits.riskmanagementpoliciesandsystemsare reviewed regularly to reflect changes in market conditions and the Company’s activities. TheCompany’sriskmanagementcommitteeoverseeshowmanagementmonitorscompliancewiththeCompany’sriskmanagementpoliciesandprocedures,andreviewstheadequacyoftheriskmanagementframeworkinrelationtotherisksfaced by the Company. 49.1 Credit risk management fCrraemdietwrioskrkistheriskthattheCompanywillincuralossbecauseitscustomersfailtodischargetheircontractualobligations.TheCompanyhasacomprehensiveframeworkformonitoringcreditqualityofitsloansandadvancesprimarilybasedondays past due monitoring at year end. Repayment by individual customers and portfolio is tracked regularly and required steps for recovery are taken through follow ups and legal recourse. Concentrationsarisewhenanumberofcounterpartiesareengagedinsimilarbusinessactivities,oractivitiesinthesamegeographicalregion,orhavesimilareconomicfeaturesthatwouldcausetheirabilitytomeetcontractualobligationstobe similarlyaffectedbychangesineconomic,politicalorotherconditions.Inordertoavoidexcessiveconcentrationsofrisk,theCompany’spoliciesandproceduresincludespecificguidelinestofocusonspreadingitslendingportfolioacrossvarious products / states / customer base with a cap on maximum limit of exposure for an individual / Group. 49.1.1 Credit quality of financial loan Mortgage loans Saral Property loans Hypothecated and Switch pe loans As at As at As at As at As at As at As at As at As at As at As at As at As at As at As at Particulars June 30, June 30, March 31, March 31, March 31, June 30, June 30, March 31, March 31, March 31, June 30, June 30, March 31, March 31, March 31, 2025 2024 2025 2024 2023 2025 2024 2025 2024 2023 2025 2024 2025 2024 2023 Gross carrying value of loans Stage 1 7 ,594.10 3 ,909.39 6369.72 3 ,323.10 498.54 927.52 1 ,084.21 962.5 1 ,104.10 1 ,041.51 41,370.00 37,157.47 41,134.00 3 5,123.00 23,673.90 Stage 2 57.43 19.84 46.90 4 .80 2 .61 26.32 28.24 26.9 17.80 31.69 893.55 510.73 862.90 4 07.40 215.90 Stage 3 182.28 24.62 138.20 1 7.00 5 .25 113.74 69.17 115.9 70.70 89.99 2 ,155.38 1 ,373.60 1 ,916.30 1 ,228.70 557.20 Gross carrying value as at 7 ,833.81 3 ,953.85 6 ,554.82 3 ,344.90 5 06.40 1 ,067.58 1 ,181.62 1 ,105.30 1 ,192.60 1 ,163.19 4 4,418.93 3 9,041.80 4 3,913.20 3 6,759.10 2 4,447.00 reporting date The Company reviews the credit quality of its loans based on the ageing of the loan at the year end and hence the Company has calculated its ECL allowances on a collective basis. 58Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) 49.1.2 Inputs considered in calculation of ECL InassessingtheimpairmentoffinancialloansunderExpectedCreditLoss(ECL)Model,theassetshavebeensegmentedintothreestages.Thethreestages reflectthegeneralpatternofcreditdeteriorationofafinancialinstrument.Thedifferencesinaccountingbetweenstages,relatetotherecognitionofexpected credit losses and the measurement of interest income. The Company categorises loan assets into stages primarily based on the Days Past Due status. Stage 1 : 0 to 30 days past due Stage 2 : 31 to 90 days past due Stage 3 : More than 90 days past due 49.1.3 Definition of default TheCompanyconsidersafinancialassettobein“default”andthereforeStage3(creditimpaired)forECLcalculationswhentheborrowerbecomes90days past due on its contractual payments. 49.1.4 Exposure at default “Exposure at default” (EAD) represents the gross carrying amount of the assets subject to impairment calculation. 49.1.5 Estimations and assumptions used in the ECL model (a)Lossgivendefault(LGD)iscommonforallthreeStagesandisbasedonlossinpastportfolio.Actualcashflowsonthepastportfolioareconsideredat portfolio basis for arriving loss rate. (b) Probability of default (PD) is applied on Stage 1, Stage 2 and Stage 3 portfolio . This is calculated as an average of periodic movement of default rates. 49.1.6 Measurement of ECL ECL is measured as follows: (a)Financialassetsthatarenotcreditimpairedatthereportingdate:forStage1&2,grossexposureismultipliedbyPDandLGDpercentagetoarriveatthe ECL. (b)Financialassetsthatarecreditimpairedatthereportingdate:thedifferencebetweenthegrossexposureatreportingdateandcomputedcarryingamount considering EAD net of LGD ; 49.1.7 Significant increase in credit risk The Company considers its exposure in credit risk to have increased significantly, when the borrower crosses 30 DPD. 59Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) 49.1.8 Impairment loss (a) The expected credit loss allowance for Mortgage loan is determined as follows: Particulars Stage 1 Stage 2 Stage 3 Performing- Under per - Impaired loans - loans forming loans lifetime ECL Total 12 month ECL Lifetime ECL not credit impaired credit impaired Gross carrying value as at June 30, 2025 7,594.10 57.43 182.28 7,833.81 ECL rate 0.24% 28.84% 43.71% ECL amount 18.12 16.56 79.68 114.36 Carrying amount (net of provision) 7,575.98 40.87 102.60 7,719.45 Gross carrying value as at June 30, 2024 3,909.39 19.84 24.62 3,953.85 ECL rate 0.38% 33.62% 53.05% ECL amount 15.01 6.67 13.06 34.74 Carrying amount (net of provision) 3,894.38 13.17 11.56 3,919.11 Gross carrying value as at March 31, 2025 6 ,369.72 46.9 138.2 6,554.82 ECL rate 0.24% 29.21% 43.85% ECL amount 15.20 13.70 60.60 89.50 Carrying amount (net of provision) 6,354.52 33.20 77.6 6,465.32 Gross carrying value as at March 31, 2024 3,323.10 4.80 17.00 3,344.90 ECL rate 0.38% 33.33% 53.53% ECL amount 12.70 1.60 9.10 23.40 Carrying amount (net of provision) 3,310.40 3.20 7.90 3,321.50 Gross carrying value as at March 31, 2023 498.54 2.61 5.25 506.40 ECL rate 0.79% 25.89% 59.33% ECL amount 3.90 0.70 1.90 6.50 Carrying amount (net of provision) 494.64 1.91 3.35 499.90 (b) The expected credit loss allowance for Saral Property loan is determined as follows: Particulars Stage 1 Stage 2 Stage 3 Performing- Under per - Impaired loans - loans forming loans lifetime ECL Total 12 month ECL Lifetime ECL not credit impaired credit impaired Gross carrying value as at June 30, 2025 927.52 26.32 113.74 1,067.58 ECL rate 0.55% 26.29% 32.78% ECL amount 5.06 6.92 37.28 49.26 Carrying amount (net of provision) 922.46 19.40 76.46 1,018.32 Gross carrying value as at June 30, 2024 1,084.21 28.24 69.17 1,181.62 ECL rate 0.63% 25.50% 31.29% ECL amount 6.78 7.20 21.64 35.62 Carrying amount (net of provision) 1,077.43 21.04 47.53 1,146.00 Gross carrying value as at March 31, 2025 962.5 26.9 115.9 1 ,105.30 ECL rate 0.55% 26.39% 32.79% ECL amount 5 .30 7 .10 38.00 50.40 Carrying amount (net of provision) 957.2 19.8 77.9 1 ,054.90 Gross carrying value as at March 31, 2024 1,104.10 17.80 70.70 1,192.60 ECL rate 0.62% 23.60% 32.96% ECL amount 6.90 4.20 23.30 34.40 Carrying amount (net of provision) 1,097.20 13.60 47.40 1,158.20 Gross carrying value as at March 31, 2023 1,041.51 31.69 89.99 1,163.19 ECL rate 1.45% 13.57% 67.80% ECL amount 15.10 4 .30 42.00 61.40 Carrying amount (net of provision) 1,026.41 27.39 47.99 1,101.79 60Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) (c) The expected credit loss allowance for Hypothecated and Switch pe loan is determined as follows: Particulars Stage 1 Stage 2 Stage 3 Performing- Under per - Impaired loans - loans forming loans lifetime ECL Total 12 month ECL Lifetime ECL not credit impaired credit impaired Gross carrying value as at June 30, 2025 41,370.00 893.55 2,155.38 44,418.93 ECL rate 0.56% 43.07% 71.44% ECL amount 229.72 384.82 1,539.87 2,154.41 Carrying amount (net of provision) 41,140.28 508.73 615.51 42,264.52 Gross carrying value as at June 30, 2024 37,157.47 510.73 1,373.60 39,041.80 ECL rate 0.46% 41.57% 77.08% ECL amount 171.31 212.30 1,058.72 1,442.33 Carrying amount (net of provision) 36,986.16 298.43 314.88 37,599.47 Gross carrying value as at March 31, 2025 41,134.00 862.9 1916.3 43,913.20 ECL rate 0.58% 43.31% 71.38% ECL amount 240.1 373.7 1367.8 1 ,981.60 Carrying amount (net of provision) 40893.9 489.2 548.5 41,931.60 Gross carrying value as at March 31, 2024 35,123.00 407.40 1,228.70 36,759.10 ECL rate 0.46% 40.73% 74.65% ECL amount 161.80 165.95 917.20 1,244.95 Carrying amount (net of provision) 34,961.20 241.45 311.50 35,514.15 Gross carrying value as at March 31, 2023 23,673.90 215.90 557.20 24,447.00 ECL rate 0.65% 13.90% 71.26% ECL amount 154.50 30.00 282.40 466.90 Carrying amount (net of provision) 23,519.40 185.90 274.80 23,980.10 49.1.9 Level of assessment - aggregation criteria Thecompanyrecognisestheexpectedcreditlosses(ECL)onacollectivebasisthattakesintoaccountcomprehensivecreditriskinformation.Consideringthe economic and risk characteristics the company calculates ECL on a collective basis for all stages - Stage 1, Stage 2 and Stage 3 assets 61Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) 49.1.10 An analysis of changes in the gross carrying amount and the corresponding ECLs in relation to Mortgage loan is as follows: (a) Gross exposure reconciliation: Particulars Stage 1 Stage 2 Stage 3 Total Gross carrying amount as at March 31, 2025 6 ,369.72 46.90 138.20 6,554.82 Transfer to stage 1 2.37 (2.13) (0.24) 0.00 Transfer to stage 2 (50.79) 50.79 - - Transfer to stage 3 (10.31) (39.01) 49.32 - Loans derecognised during three months - Loans originated / derecognised during three months 1,283.40 1.08 (4.26) 1,280.22 Write offs during three months (0.29) (0.20) (0.74) (1.23) Gross carrying amount as at June 30, 2025 7,594.10 57.43 182.28 7,833.81 Particulars Stage 1 Stage 2 Stage 3 Total Gross carrying amount as at March 31, 2024 3,323.10 4.80 17.00 3,344.90 Transfer to stage 1 - - - - Transfer to stage 2 (18.93) 18.93 - - Transfer to stage 3 (4.06) (4.56) 8.62 - Loans derecognised during three months Loans originated / derecognised during three months 609.37 0.67 (0.99) 609.05 Write offs during three months (0.09) - (0.01) (0.10) Gross carrying amount as at June 30, 2024 3,909.39 19.84 24.62 3,953.85 Particulars Stage 1 Stage 2 Stage 3 Total Gross carrying amount as at March 31, 2022 73.50 11.90 4.00 89.40 Changes due to loans recognised in the opening balances that have : Transfer to stage 1 1.49 (2.16) 0.67 - Transfer to stage 2 (0.10) 0.10 - - Transfer to stage 3 (1.90) (2.00) 3.90 - Loans derecognised during the year - Loans originated / derecognised during the year 425.55 (5.23) (2.32) 418.00 Write offs during the year - - (1.00) (1.00) Gross carrying amount as at March 31, 2023 498.54 2.61 5.25 506.40 Changes due to loans recognised in the opening balances that have : Transfer to stage 1 2.60 (0.60) (2.00) - Transfer to stage 2 (1.80) 1.80 - - Transfer to stage 3 (12.90) (2.00) 14.90 - Loans derecognised during the year - - - - Loans originated / derecognised during the year 2,837.46 3.19 (0.75) 2,839.90 Write offs during the year (0.80) (0.20) (0.40) (1.40) Gross carrying amount as at March 31, 2024 3,323.10 4.80 17.00 3,344.90 Changes due to loans recognised in the opening balances that have : Transfer to stage 1 0.40 - (0.40) - Transfer to stage 2 (42.60) 42.6 0 - Transfer to stage 3 (121.40) (4.50) 125.9 - Loans derecognised during the year Loans originated / derecognised during the year 3,211.72 4.00 (3.10) 3 ,212.62 Write offs during the year (1.50) - (1.20) (2.70) Gross carrying value as at March 31, 2025 6,369.72 46.90 138.20 6,554.82 62Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) (b) Reconciliation of ECL balances Particulars Stage 1 Stage 2 Stage 3 Total ECL allowances balances as at March 31, 2025 15.20 13.70 60.60 89.50 Transfer to Stage 1 0.74 (0.63) (0.11) - Transfer to Stage 2 (0.12) 0.12 - - Transfer to Stage 3 (0.02) (11.37) 11.40 0.01 Loans derecognised during three months Loans originated / derecognised during three months 2.33 14.94 8.35 25.62 Write offs during three months (0.01) (0.20) (0.56) (0.77) ECL allowances balances as at June 30, 2025 18.12 16.56 79.68 114.36 Particulars Stage 1 Stage 2 Stage 3 Total ECL allowances balances as at March 31, 2024 12.70 1.60 9.10 23.40 Transfer to Stage 1 - - - - Transfer to Stage 2 (0.07) 0.07 - - Transfer to Stage 3 (0.02) (1.53) 1.54 - Loans derecognised during three months Loans originated / derecognised during three months 2.41 6.53 2.42 11.35 Write offs during three months (0.01) - - (0.01) ECL allowances balances as at June 30, 2024 15.01 6.67 13.06 34.74 Particulars Stage 1 Stage 2 Stage 3 Total ECL allowances balances as at March 31, 2022 1.00 1.40 2.30 4.70 Transfer to Stage 1 - - - - Transfer to Stage 2 - - - - Transfer to Stage 3 (0.90) (0.50) 1.40 - Loans derecognised during the year Loans originated / derecognised during the year 3.80 (0.20) (0.80) 2.80 Write offs during the year - - (1.00) (1.00) ECL allowances balances as at March 31, 2023 3.90 0.70 1.90 6.50 Changes due to loans recognised in the opening balances that have : Transfer to Stage 1 0.90 (0.20) (0.70) - Transfer to Stage 2 - - - - Transfer to Stage 3 (0.10) (0.50) 0.60 - Loans derecognised during the year Loans originated / derecognised during the year 8.03 1.77 7.48 17.28 Write offs during the year (0.03) (0.17) (0.18) (0.38) ECL allowances balances as at March 31, 2024 12.70 1.60 9.10 23.40 Changes due to loans recognised in the opening balances that have : Transfer to Stage 1 0.20 - ( 0.20) - Transfer to Stage 2 ( 0.20) 0.20 - - Transfer to Stage 3 ( 0.50) ( 1.50) 2.00 - Loans derecognised during the year Loans originated / derecognised during the year 3.10 13.40 50.40 66.90 Write offs during the year ( 0.10) - ( 0.70) ( 0.80) ECL allowances balances as at March 31, 2025 15.20 13.70 60.60 89.50 63Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) 49.1.11 An analysis of changes in the gross carrying amount and the corresponding ECLs in relation to Saral Property loan is as follows: (a) Gross exposure reconciliation: Particulars Stage 1 Stage 2 Stage 3 Total Gross carrying amount as at March 31, 2025 962.50 26.90 115.90 1,105.30 Transfer to Stage 1 0.85 (0.57) (0.28) - Transfer to Stage 2 (21.68) 21.68 - - Transfer to Stage 3 (4.05) (21.20) 25.25 - Loans derecognised during three months Loans originated / derecognised during three months (10.10) (0.47) (4.59) (15.16) Write offs during three months - (0.02) (22.54) (22.56) Gross carrying amount as at June 30, 2025 927.52 26.32 113.74 1,067.58 Particulars Stage 1 Stage 2 Stage 3 Total Gross carrying amount as at March 31, 2024 1,104.10 17.80 70.70 1,192.60 Transfer to Stage 1 0.62 (0.23) (0.39) - Transfer to Stage 2 (23.85) 23.98 (0.13) - Transfer to Stage 3 (4.55) (12.07) 16.62 - Loans derecognised during three months Loans originated / derecognised during three months 8.16 (1.18) (5.35) 1.63 Write offs during three months (0.27) (0.06) (12.28) (12.61) Gross carrying amount as at June 30, 2024 1,084.21 28.24 69.17 1,181.62 Particulars Stage 1 Stage 2 Stage 3 Total Gross carrying amount as at March 31, 2022 1,075.70 165.80 108.40 1,349.90 Transfer to Stage 1 12.40 (12.78) 0.38 - Transfer to Stage 2 (20.32) 20.44 (0.12) - Transfer to Stage 3 (46.89) (29.99) 76.88 - Loans derecognised during the year Loans originated / derecognised during the year 23.42 (90.24) (28.42) (95.24) Write offs during the year (2.80) (21.54) (67.13) (91.47) Gross carrying amount as at March 31, 2023 1,041.51 31.69 89.99 1,163.19 Transfer to Stage 1 81.00 (16.30) (64.70) - Transfer to Stage 2 (17.10) 17.10 - - Transfer to Stage 3 (49.30) (12.10) 61.40 - Loans derecognised during the year - - - - Loans originated / derecognised during the year 53.59 4.51 29.81 87.91 Write offs during the year (5.60) (7.10) (45.80) (58.50) Gross carrying amount as at March 31, 2024 1,104.10 17.80 70.70 1,192.60 Transfer to Stage 1 1.10 ( 0.20) ( 0.90) - Transfer to Stage 2 (25.50) 2 5.50 - - Transfer to Stage 3 (98.70) ( 6.20) 104.90 - Loans derecognised during the year Loans originated / derecognised during the year (14.80) (3.30) (20.50) (38.60) Write offs during the year (3.70) (6.70) (38.30) (48.70) Gross carrying value as at March 31, 2025 962.50 26.90 115.90 1 ,105.30 64Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) (b) Reconciliation of ECL balances Particulars Stage 1 Stage 2 Stage 3 Total ECL allowances balances as at March 31, 2025 5.30 7.10 38.00 50.40 Transfer to Stage 1 0.23 (0.15) (0.08) - Transfer to Stage 2 (0.12) 0.12 - - Transfer to Stage 3 (0.02) (5.54) 5.56 - Loans derecognised during three months Loans originated / derecognised during three months (0.33) 5.41 3.11 8.19 Write offs during three months - (0.02) (9.31) (9.33) ECL allowances balances as at June 30, 2025 5.06 6.92 37.28 49.26 Particulars Stage 1 Stage 2 Stage 3 Total ECL allowances balances as at March 31, 2024 6.90 4.20 23.30 34.40 Transfer to Stage 1 0.10 (0.02) (0.08) - Transfer to Stage 2 (0.14) 0.14 - - Transfer to Stage 3 (0.02) (2.62) 2.64 - Loans derecognised during three months Loans originated / derecognised during three months (0.06) 5.55 1.35 6.84 Write offs during three months - (0.05) (5.57) (5.61) ECL allowances balances as at June 30, 2024 6.78 7.20 21.64 35.63 Particulars Stage 1 Stage 2 Stage 3 Total ECL allowances balances as at April 01, 2022 17.40 23.90 63.00 104.30 Transfer to Stage 1 - (0.10) 0.10 - Transfer to Stage 2 (1.50) 1.50 - - Transfer to Stage 3 (20.20) (14.50) 34.70 - Loans derecognised during the year - - - - Loans originated / derecognised during the year 21.21 7.72 (13.50) 15.42 Write offs during the year (1.81) (14.22) (42.30) (58.32) ECL allowances balances as at March 31, 2023 15.10 4.30 42.00 61.40 Transfer to Stage 1 37.10 (2.70) (34.40) - Transfer to Stage 2 (0.20) 0.20 - - Transfer to Stage 3 (0.60) (1.20) 1.80 - Loans derecognised during the year Loans originated / derecognised during the year (44.32) 5.28 41.46 2.42 Write offs during the year (0.15) (1.68) (27.56) (29.39) ECL allowances balances as at March 31, 2024 6.90 4.20 23.30 34.43 Transfer to Stage 1 0.30 - ( 0.30) - Transfer to Stage 2 ( 0.20) 0.20 - - Transfer to Stage 3 ( 0.60) ( 1.00) 1.60 - Loans derecognised during the year Loans originated / derecognised during the year (1.10) 5.80 31.50 36.20 Write offs during the year - (2.10) (18.10) (20.20) ECL allowances balances as at March 31, 2025 5.30 7.10 38.00 50.43 65Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) 49.1.12 An analysis of changes in the gross carrying amount and the corresponding ECLs in relation to Hypothecated and Switch pe loan is as follows: (a) Gross exposure reconciliation: Particulars Stage 1 Stage 2 Stage 3 Total Gross carrying amount as at March 31, 2025 41,134.00 862.90 1,916.30 43,913.20 Transfer to Stage 1 10.41 (7.35) (3.06) - Transfer to Stage 2 (821.28) 821.28 - - Transfer to Stage 3 (244.62) (674.52) 919.14 - Loans derecognised during three months Loans originated / derecognised during three months 1,292.96 (15.44) (102.32) 1,175.20 Write offs during three months (1.47) (93.32) (574.68) (669.47) Gross carrying amount as at June 30, 2025 41,370.00 893.55 2,155.38 44,418.93 Particulars Stage 1 Stage 2 Stage 3 Total Gross carrying amount as at March 31, 2024 35,123.00 407.40 1,228.70 36,759.10 Transfer to Stage 1 6.45 (4.41) (2.04) - Transfer to Stage 2 (466.95) 467.52 (0.58) - Transfer to Stage 3 (134.78) (350.43) 485.21 - Loans derecognised during three months Loans originated / derecognised during three months 2,630.38 (8.84) (63.56) 2,557.98 Write offs during three months (0.63) (0.52) (274.13) (275.28) Gross carrying amount as at June 30, 2024 37,157.47 510.73 1,373.60 39,041.80 Particulars Stage 1 Stage 2 Stage 3 Total Gross carrying amount as at April 01, 2022 14,786.40 623.50 435.40 15,845.30 Transfer to Stage 1 44.30 (47.60) 3.30 - Transfer to Stage 2 (133.15) 133.38 (0.14) 0.09 Transfer to Stage 3 (397.13) (74.58) 471.71 - Loans derecognised during the year Loans originated / derecognised during the year 9,387.70 (311.44) (36.93) 9,039.33 Write offs during the year (14.22) (107.35) (316.14) (437.72) Gross carrying amount as at March 31, 2023 23,673.90 215.90 557.20 24,447.00 Transfer to Stage 1 551.30 (115.70) (435.60) - Transfer to Stage 2 (389.00) 389.20 (0.20) 0.00 Transfer to Stage 3 (1,163.70) (91.20) 1,254.90 - Loans derecognised during the year Loans originated / derecognised during the year 12,490.00 91.10 241.00 12,822.10 Write offs during the year (39.50) (81.90) (388.60) (510.00) Gross carrying amount as at March 31, 2024 35,123.00 407.40 1,228.70 36,759.10 Transfer to Stage 1 1 4.50 ( 8.50) ( 6.00) - Transfer to Stage 2 (790.40) 790.40 - - Transfer to Stage 3 ( 1,922.40) (88.00) 2,010.40 - Loans derecognised during the year Loans originated / derecognised during the year 9,597.50 19.90 (280.50) 9,336.90 Write offs during the year (888.20) (258.30) ( 1,036.30) ( 2,182.80) Gross carrying value as at March 31, 2025 41,134.00 862.90 1 ,916.30 43,913.20 66Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) (b) Reconciliation of ECL balances Particulars Stage 1 Stage 2 Stage 3 Total ECL allowances balances as at March 31, 2025 240.10 373.70 1,367.80 1,981.60 Transfer to Stage 1 4.52 (3.22) (1.30) - Transfer to Stage 2 (4.74) 4.74 - - Transfer to Stage 3 (1.39) (291.10) 292.49 - Loans derecognised during three months Loans originated / derecognised during three months (8.71) 345.26 241.13 577.68 Write offs during three months (0.06) (44.56) (360.25) (404.87) ECL allowances balances as at June 30, 2025 229.72 384.82 1,539.87 2,154.41 Particulars Stage 1 Stage 2 Stage 3 Total ECL allowances balances as at March 31, 2024 161.80 165.95 917.20 1,244.95 Transfer to Stage 1 2.50 (1.74) (0.76) - Transfer to Stage 2 (2.11) 2.35 (0.24) - Transfer to Stage 3 (0.58) (142.52) 143.10 - Loans derecognised during three months Loans originated / derecognised during three months 9.74 188.68 181.93 380.34 Write offs during three months (0.03) (0.42) (182.51) (182.96) ECL allowances balances as at June 30, 2024 171.31 212.30 1,058.72 1,442.33 Particulars Stage 1 Stage 2 Stage 3 Total ECL allowances balances as at April 01, 2022 78.70 84.00 273.30 436.00 Transfer to Stage 1 (0.26) (0.30) 0.56 - Transfer to Stage 2 (16.00) 16.04 (0.04) (0.00) Transfer to Stage 3 (194.60) (35.50) 230.10 - Loans derecognised during the year - - - - Loans originated / derecognised during the year 295.21 35.46 (8.68) 321.99 Write offs during the year (8.55) (69.70) (212.84) (291.09) ECL allowances balances as at March 31, 2023 154.50 30.00 282.40 466.90 Transfer to Stage 1 263.50 (17.50) (246.00) - Transfer to Stage 2 (2.40) 2.50 (0.10) - Transfer to Stage 3 (7.30) (10.90) 18.20 - Loans derecognised during the year - - - - Loans originated / derecognised during the year (246.07) 175.13 1,093.70 1,022.76 Write offs during the year (0.43) (13.28) (231.00) (244.71) ECL allowances balances as at March 31, 2024 161.80 165.95 917.20 1,244.95 Transfer to Stage 1 6.40 ( 3.50) ( 2.90) - Transfer to Stage 2 ( 3.60) 3.60 - - Transfer to Stage 3 ( 8.80) (31.80) 4 0.60 - Loans derecognised during the year Loans originated / derecognised during the year 88.80 360.35 1,077.70 1,526.85 Write offs during the year ( 4.50) (120.90) (664.80) (790.20) ECL allowances balances as at March 31, 2025 240.10 373.70 1 ,367.80 1 ,981.60 Cash and cash equivalent and bank deposits The Company maintains its bank balances in reputed banks and financial institutions. The credit risk is limited because the counterparties are banks with high credit ratings assigned by international credit rating agencies. 67Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) 49.2 Liquidity risk LiquidityriskistheriskthattheCompanywillencounterdifficultyinmeetingtheobligationsassociatedwithitsfinancialliabilities(otherthanderivatives)thataresettledbydeliveringcashoranotherfinancialasset.TheCompany’sapproachtomanagingliquidity is to ensure as far as possible, that it will have sufficient liquidity to meet its liabilities when they are due. LiquidityriskmanagementintheCompanyismanagedaspertheguidelinesofBoard-approvedAsset-LiabilityManagement(‘ALM’)PolicywhichismonitoredbytheAssetLiabilityCommittee.TheALMPolicyprovidesthegovernanceframeworkforthe identification,measurement,monitoringandreportingofliquidityriskarisingoutofCompany’slendingandborrowingactivities.TheCompanymaintainsflexibilityinfundingbymaintainingavailabilityundercommittedcreditlines.Managementmonitorsthe Company’s liquidity positions (also comprising the undrawn borrowing facilities) and cash and cash equivalents on the basis of expected cash flows. The Company also takes into account liquidity of the market in which the entity operates. Maturities of financial liabilities The table below analyses non-derivative financial liabilities of the Company into relevant maturity groupings based on the remaining period from the reporting date to the contractual maturity date. As at J une 30, 2025 As at J une 30, 2024 As at M arch 31, 2025 As at M arch 31, 2024 As at M arch 31, 2023 Particulars Within After Within After Within After Within After Within After Total Total Total Total Total 12 months 12 months 12 months 12 months 12 months 12 months 12 months 12 months 12 months 12 months Financial liabilities Lease liabilities 98.32 210.45 308.77 88.53 185.61 2 74.14 95.20 1 88.91 2 84.11 6 9.70 1 66.61 2 36.31 6 9.70 1 73.20 2 42.90 Debt securities 6,208.20 8,121.64 14,329.84 4,095.46 9,388.68 1 3,484.14 6349.30 7 ,831.99 1 4,181.29 5 ,037.10 5 ,186.33 1 0,223.43 4 ,800.80 4 ,197.70 8 ,998.50 Borrowings(otherthan 15,283.29 18,473.05 1 6,363.05 1 1,547.79 2 7,910.84 1 5,338.56 3 1,081.96 1 5,678.90 9 ,087.57 2 4,766.47 9 ,675.10 4 ,288.01 1 3,963.11 debt securities) 33,756.34 15743.40 Other financial 500.26 9.90 529.09 4 .20 5 33.29 - 4 81.30 5 54.23 - 5 54.23 1 60.65 - 1 60.65 liabilities 510.16 481.30 Derivative Financial - - 4 4.84 - 4 4.84 - - 31.52 - 31.52 - - - Instrument - 0.00 2 2,090.08 2 6,815.04 4 8,905.11 2 1,120.97 2 1,126.28 4 2,247.25 2 2,669.20 2 3,359.46 4 6,028.66 2 1,371.45 1 4,440.51 3 5,811.96 1 4,706.25 8 ,658.91 2 3,365.16 68Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) 49.3 Market risk Marketriskistheriskthatthefairvalueoffuturecashflowsofafinancialinstrumentwillfluctuatebecauseofchangesinmarketprices.Marketriskcomprisesthreetypesofrisk: interestraterisk,currencyriskandotherpricerisk,suchasequitypriceriskandcommoditypricerisk.Financialinstrumentsaffectedbymarketriskincludeforeigncurrency receivables. 49.3.1 Foreign currency risk Currencyriskistheriskthatthevalueofafinancialinstrumentwillfluctuateduetochangesinforeignexchangerates.ForeigncurrencyriskfortheCompanyarisesmajorlyonaccount offoreigncurrencyborrowings.Whenaderivativeisenteredintoforthepurposeofbeingashedge,theCompanynegotiatesthetermsofthosederivativestomatchwiththetermsof the hedge exposure. The Company’s policy is to fully hedge its foreign currency borrowings at the time of drawdown and remain so till repayment. TheCompanyholdsderivativefinancialinstrumentssuchascrosscurrencyinterestrateswaptomitigateriskofchangesinexchangerateinforeigncurrencyandfloatinginterestrate. Thecounterpartyforthesecontractsisgenerallyabank.Thesederivativefinancialinstrumentsarevaluedbasedonquotedpricesforsimilarassetsandliabilitiesinactivemarketsor inputs that are directly or indirectly observable in market place. The carrying amounts of the Company’s foreign currency exposure at the end of the reporting period are as follows : As at As at As at As at As at Particulars Currency June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Financial liabilities, Rs. Millions USD 3136.61 2,504.06 1 ,854.26 2 ,209.40 1 ,233.30 Financial liabilities, Rs. Millions EURO 1506.68 1,338.73 1 ,384.87 1 ,353.30 1 ,344.10 49.3.2 Interest rate risk Interest rate risk is the risk that the future cash flows of a financial instrument will fluctuate because of change in market interest rates. The Company does not have any exposure to the risk of changes in market interest rates as the company does not have any borrowings/loans on fluctuating interest rates except following:- (a) Liabilities As at As at As at As at As at Particulars June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Debt securities Variable rate 1 00.00 1 00.00 100.00 1 00.20 2,611.40 Fixed rate 14,229.84 13,384.14 14081.29 1 0,123.23 6 ,387.10 Borrowings (other than debt) Variable rate 15,259.49 10,546.65 15841.65 9,660.20 6,157.61 Fixed rate 18,496.85 17,364.19 15240.31 1 5,106.27 7,805.50 Sensitivity analysis Increase by 80 basis points 1 22.88 8 5.17 127.53 7 8.10 6 2.70 Decrease by 80 basis points ( 122.88) ( 85.17) ( 127.53) ( 78.10) ( 62.70) (b) Assets TheCompany’sfixeddepositsarecarriedatamortisedcostandarefixedratedepositsandthereforenotsubjecttointerestraterisk,sinceneitherthecarryingamountnorthefuture cash flows will fluctuate because of a change in market interest rates. Loans extended by the Company are all fixed rate loans. (c) Price risk exposure As at As at As at As at As at Particulars June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Investments 7 09.37 2 78.98 417.63 1 06.09 8 42.10 Sensitivity analysis* increase by 4% - - - - 2 3.40 decrease by 4% - - - - ( 23.40) *The Company’s Investment in Mutual Funds is exposed to pricing risk. Other financial instruments held by the company does not possess any risk associated with trading. 69Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) 50 Leases 50.1.1 Carrying value of Right of Use Assets Particulars Buildings Total Balance at April 1, 2025 262.65 262.65 Additions 58.84 58.84 Deletions / Adjustments (3.61) (3.61) Depreciation charge for the period (29.85) (29.85) Balance at June 30, 2025 288.03 288.03 Balance at April 1, 2024 214.31 214.31 Additions 62.29 62.29 Deletions / Adjustments (0.90) (0.90) Depreciation charge for the period (26.42) (26.42) Balance at June 30, 2024 249.28 249.28 Balance at April 1, 2022 205.80 205.80 Additions 8 3.40 8 3.40 Deletions / Adjustments ( 4.50) ( 4.50) Depreciation charge for the year ( 73.20) ( 73.20) Balance at March 31, 2023 211.50 211.50 Additions 112.01 112.01 Deletions / Adjustments (14.61) (14.61) Depreciation charge for the year (94.59) (94.59) Balance at March 31, 2024 214.31 214.31 Additions 198.20 198.20 Deletions / Adjustments (37.86) (37.86) Depreciation charge for the year (112.00) (112.00) Balance at March 31, 2025 262.65 262.65 50.1.2 Carrying value of lease liabilities: Particulars Buildings Total Balance at April 01, 2025 284.11 284.11 Additions 5 6.80 5 6.80 Finance cost 1 2.93 1 2.93 Termination / Adjustments ( 4.33) ( 4.33) Lease payments ( 40.74) ( 40.74) Balance at June 30, 2025 308.77 308.77 Particulars Buildings Total Balance at April 01, 2024 236.31 236.31 Additions 6 1.54 6 1.54 Finance cost 9 .87 9 .87 Termination / Adjustments ( 1.13) ( 1.13) Lease payments ( 32.45) ( 32.45) Balance at June 30, 2024 274.14 274.14 Particulars Buildings Total Balance at April 01, 2022 233.50 233.50 Additions 75.10 7 5.10 Finance cost 31.60 3 1.60 Termination / Adjustments - - Lease payments ( 97.40) ( 97.40) Balance at March 31, 2023 2 42.80 2 42.80 Additions 1 00.60 1 00.60 Finance cost 2 2.11 2 2.11 Termination / Adjustments ( 16.50) ( 16.50) Lease payments ( 112.70) ( 112.70) Balance at March 31, 2024 2 36.31 2 36.31 Additions 192.00 1 92.00 Finance cost 45.72 4 5.72 Termination / Adjustments ( 41.42) ( 41.42) Lease payments ( 148.50) ( 148.50) Balance at March 31, 2025 2 84.11 2 84.11 70Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) 50.1.3 Maturity analysis of lease liabilities Contractual undiscounted cash As at As at As at As at As at flows June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Less than one year 132.43 118.88 125.90 111.90 95.90 One to five years 232.86 204.08 207.30 173.50 194.70 More than five years 2 9.48 3 0.29 28.20 3 .90 2 .20 Undiscounted lease liabilities 394.77 353.25 361.40 289.30 292.80 50.1.4 Amounts recognised in profit or loss As at As at As at As at As at Particulars June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Interest on lease liabilities 1 2.93 9.87 45.72 22.11 31.60 Depreciation on ROU assets 2 9.85 2 6.42 112.00 9 4.59 73.20 42.78 36.29 157.72 116.70 104.80 50.1.5 Cash outflow of leases As at As at As at As at As at Particulars June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Cash outflow of leases Lease payments 4 0.74 3 2.45 1 48.50 1 12.70 9 7.40 40.74 32.45 148.50 112.70 97.40 50.1.6 Break up value of the current and non-current lease liabilities As at As at As at As at As at Particulars June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Current lease liabilities 98.32 8 8.53 95.20 69.70 69.70 Non-current lease liabilities 210.45 185.61 188.91 166.61 173.20 308.77 274.14 2 84.11 2 36.31 2 42.90 51 Financial instruments and fair value disclosures Valuation principles Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction in the principal (or most advantageous) market at the measurement dateundercurrentmarketconditions(i.e.anexitprice),regardlessofwhetherthatpriceisdirectly/indirectlyobservableorestimatedusingavaluationtechnique.Inordertoshow how fair values have been derived, financial instruments are classified based on a hierarchy of valuation techniques. Fair value hierarchy of asset and liabilities measured at fair value As at June 30, 2025 Particulars Level 1 Level 2 Level 3 Total At fair value through profit and Loss Financial asset Derivative financial instruments - 99.37 - 99.37 Investments Mutual funds - - - - Security receipts - 355.90 355.90 - 4 55.27 - 4 55.27 Financial liabilities Derivative financial instruments - - - - - - 71Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) As at June 30, 2024 Particulars Level 1 Level 2 Level 3 Total At fair value through profit and Loss Financial Asset Derivative financial instruments - - - - Investments - Mutual funds - - - - Security receipts - 157.04 - 157.04 - 1 57.04 - 1 57.04 Financial Liabilities Derivative financial instruments - 44.84 - 44.84 - 44.84 - 44.84 Fair value hierarchy of asset and liabilities measured at fair value As at March 31, 2025 Particulars Level 1 Level 2 Total At fair value through profit and Loss Financial asset Derivative financial instruments - 2.41 - 2.41 Investments - Security receipts - 369.74 - 369.74 - 372.15 - 372.15 Financial liabilities Derivative financial instruments - - - - - - - As at M arch 31, 2024 Particulars Level 1 Level 2 Level 3 Total At fair value through profit and Loss Financial asset Derivative financial instruments - - - - Investments Mutual funds - - - - Security receipts - 157.09 - 157.09 - 1 57.09 - 1 57.09 Financial liabilities Derivative financial instruments - 31.52 - 31.52 - 31.52 - 31.52 As at M arch 31, 2023 Particulars Level 1 Level 2 Level 3 Total At fair value through profit and Loss Financial Asset Derivative financial instruments - 30.70 - 30.70 Investments - - - Mutual funds 585.10 - - 585.10 Security receipts - 308.00 - 308.00 585.10 3 38.70 - 9 23.80 Financial Liabilities Derivative financial instruments - - - - - - - - 72Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) Fair Value hierarchy of Asset and Liabilities not measured at fair value Themanagementassessedthatcarryingvalueoffinancialassetandfinancialliabilitiesareareasonableapproximationoftheirfairvalueandhencetheircarryingvaluesaredeemed to be fair values. Valuation methodologies of financial instruments not measured at fair value Loans Most of the loans are repriced frequently, with interest rate of loans reflecting current market pricing. Hence carrying value of loans is deemed to be equivalent of fair value. Borrowings Debtsecuritiesandborrowingsarefixedrateborrowingsandfairvalueofthesefixedrateborrowingsisdeterminedbydiscountingexpectedfuturecontractualcashflowsusing currentmarketinterestrateschargedforsimilarnewloansandcarryingvalueapproximatesthefairvalueforfixedrateborrowingatfinancialstatementlevel.TheCompany’s borrowings which are at floating rate approximates the fair value. Short term and other financial assets and liabilities Themanagementassessedthatcashandcashequivalents,investments,otherfinancialassets,tradepayablesandotherfinancialliabilitiesapproximatetheircarryingamounts largely due to the short-term maturities of these instruments. 73Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) 52 Disclosures pursuant to Reserve bank of India notification DOR (NBFC).CC.PD.No.109/22.10.106/2019-20 dated March 13, 2020 pertaining to Asset Classification as per RBI Norms 52.1 As at June 30, 2025 Loss allowances Difference between Asset classification as per RBI Asset classification as Gross carrying (provisions) as Provisions required Net carrying amount Ind AS 109 provisions Norms per Ind AS 109 amount as per Ind AS required under Ind as per IRACP norms and IRACP norms AS 109 (1) (2) (3) (4) (5) = (3)-(4) (6) (7) = (4)-(6) Performing assets Standard Stage 1 4 9,891.62 2 52.90 4 9,638.72 2 02.10 5 0.80 Standard Stage 2 9 77.30 4 08.30 5 69.00 3 .90 4 04.40 Subtotal 5 0,868.92 6 61.20 5 0,207.72 2 06.00 4 55.20 Non-performing assets (NPA) Sub - standard Stage 3 2 ,294.60 1 ,511.63 7 82.97 2 30.60 1 ,281.03 Subtotal Sub -Standard 2 ,294.60 1 ,511.63 7 82.97 2 30.60 1 ,281.03 Doubtful - up to 1 year Stage 3 9 4.30 8 2.90 1 1.40 8 2.90 - 1 to 3 years Stage 3 6 2.50 6 2.30 0 .20 6 2.30 - More than 3 years Stage 3 - - - - - Subtotal Doubtful 1 56.80 1 45.20 1 1.60 1 45.20 - Loss assets - - - - - Subtotal NPA Stage 3 2 ,451.40 1 ,656.83 7 94.57 3 75.80 1 ,281.03 Other items such as guarantees, loan commitments, Stage 1 - - - - - etc. which are in the scope of Ind AS 109 but not Stage 2 - - - - - covered under current Income Recognition, Asset Stage 3 - - - - - Classification and Provisioning (IRACP) norms Stage 1 4 9,891.62 2 52.90 4 9,638.72 2 02.10 5 0.80 All assets Stage 2 9 77.30 4 08.30 5 69.00 3 .90 4 04.40 Stage 3 2 ,451.40 1 ,656.83 7 94.57 3 75.80 1 ,281.03 Total 5 3,320.32 2 ,318.03 5 1,002.29 5 81.80 1 ,736.23 Note 1: The above table discloses the provisions amounts as per IRACP norms, while the Company has made a provision of non-performing assets as per the Company’s policy which is in excess of the IRACP norms. 52.2 As at June 30, 2024 Loss allowances Difference between Asset classification as per RBI Asset classification as Gross carrying (provisions) as Provisions required Net carrying amount Ind AS 109 provisions Norms per Ind AS 109 amount as per Ind AS required under Ind as per IRACP norms and IRACP norms AS 109 (1) (2) (3) (4) (5) = (3)-(4) (6) (7) = (4)-(6) Performing assets Standard Stage 1 4 2,151.07 1 93.10 4 1,957.97 1 72.23 2 0.87 Standard Stage 2 5 58.81 2 26.17 3 32.64 2 .71 2 23.46 Subtotal 4 2,709.88 4 19.27 4 2,290.61 1 74.94 2 44.33 Non-performing assets (NPA) Sub - standard Stage 3 1 ,388.07 1 ,015.16 3 72.91 1 39.43 8 75.73 Subtotal Sub -Standard 1 ,388.07 1 ,015.16 3 72.91 1 39.43 8 75.73 Doubtful - up to 1 year Stage 3 7 6.75 7 5.69 1 .06 7 5.69 - 1 to 3 years Stage 3 2 .57 2 .57 - 2 .57 - More than 3 years Stage 3 - - - - - Subtotal Doubtful 7 9.32 7 8.26 1 .06 7 8.26 - Loss assets - - - - - Subtotal NPA Stage 3 1 ,467.39 1 ,093.42 3 73.97 2 17.69 8 75.73 Otheritemssuchasguarantees,loancommitments,Stage 1 - - - - - etc. which are in the scope of Ind AS 109 but not covered under current Income Recognition, AssetStage 2 - - - - - Classification and Provisioning (IRACP) norms Stage 3 - - - - - Stage 1 4 2,151.07 1 93.10 4 1,957.97 1 72.23 2 0.87 All assets Stage 2 5 58.81 2 26.17 3 32.64 2 .71 2 23.46 Stage 3 1 ,467.39 1 ,093.42 3 73.97 2 17.69 8 75.73 Total 4 4,177.27 1 ,512.69 4 2,664.58 3 92.63 1 ,120.06 Note 1: The above table discloses the provisions amounts as per IRACP norms, while the Company has made a provision of non-performing assets as per the Company’s policy which is in excess of the IRACP norms. 74Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) 52.3 Disclosures pursuant to Reserve bank of India notification DOR (NBFC).CC.PD.No.109/22.10.106/2019-20 dated March 13, 2020 pertaining to Asset Classification as per RBI Norms For the year March 31, 2025 Loss allowances Difference between Asset classification as per RBI Asset classification as Gross carrying (provisions) as Provisions required Net carrying amount Ind AS 109 provisions Norms per Ind AS 109 amount as per Ind AS required under Ind as per IRACP norms and IRACP norms AS 109 (1) (2) (3) (4) (5) = (3) - (4) (6) (7) = (4)-(6) Performing assets Standard Stage 1 4 8,466.22 2 60.60 4 8,205.62 1 96.80 6 3.80 Standard Stage 2 9 36.70 3 94.50 5 42.20 3 .80 3 90.70 Subtotal 4 9,402.92 6 55.10 4 8,747.82 2 00.60 4 54.50 Non-performing assets (NPA) Sub - standard Stage 3 2 ,047.70 1 ,351.60 6 96.10 2 05.90 1 ,145.70 Subtotal Sub -Standard 2 ,047.70 1 ,351.60 6 96.10 2 05.90 1 ,145.70 Doubtful - up to 1 year Stage 3 7 1.80 6 4.00 7 .80 6 4.00 - 1 to 3 years Stage 3 5 0.90 5 0.80 0 .10 5 0.80 - More than 3 years Stage 3 - - - - - Subtotal Doubtful 1 22.70 1 14.80 7 .90 1 14.80 - Loss assets - - - - - Subtotal NPA Stage 3 2 ,170.40 1 ,466.40 7 04.00 3 20.70 1 ,145.70 Other items such as guarantees, Stage 1 - - - - - loan commitments, etc. which Stage 2 - - - - - are in the scope of Ind AS 109 Stage 3 - - - - - Stage 1 4 8,466.22 2 60.60 4 8,205.62 1 96.80 6 3.80 All assets Stage 2 9 36.70 3 94.50 5 42.20 3 .80 3 90.70 Stage 3 2 ,170.40 1 ,466.40 7 04.00 3 20.70 1 ,145.70 Total 5 1,573.32 2 ,121.50 4 9,451.82 5 21.30 1 ,600.20 Note 1: The above table discloses the provisions amounts as per IRACP norms, while the Company has made a provision of non-performing assets as per the Company’s policy which is in excess of the IRACP norms. 75Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) As at March 31, 2024 Loss allowances Difference between Asset classification as per RBI Asset classification as Gross carrying (provisions) as Provisions required Net carrying amount Ind AS 109 provisions Norms per Ind AS 109 amount as per Ind AS required under Ind as per IRACP norms and IRACP norms AS 109 (1) (2) (3) (4) (5) = (3) - (4) (6) (7) = (4)-(6) Performing assets Standard Stage 1 39,550.20 1 81.35 3 9,368.85 1 62.70 1 8.65 Standard Stage 2 4 30.10 1 71.80 2 58.30 2 .30 1 69.50 Subtotal 3 9,980.30 3 53.15 3 9,627.15 1 65.00 1 88.15 Non-performing assets (NPA) Sub - standard Stage 3 1 ,248.70 9 33.80 3 14.90 1 23.40 8 10.40 Subtotal Sub -Standard 1 ,248.70 9 33.80 3 14.90 1 23.40 8 10.40 Doubtful - up to 1 year Stage 3 67.20 15.80 5 1.40 61.00 ( 45.20) 1 to 3 years Stage 3 0.40 - 0 .40 0.40 ( 0.40) More than 3 years Stage 3 - - - - - Subtotal Doubtful 6 7.60 1 5.80 5 1.80 6 1.40 ( 45.60) Loss assets - - - - - Subtotal NPA Stage 3 1 ,316.30 9 49.60 3 66.70 1 84.80 7 64.80 Otheritemssuchasguarantees,loancommitments,Stage 1 - - - - - etc. which are in the scope of Ind AS 109 but not covered under current Income Recognition, AssetStage 2 - - - - - Classification and Provisioning (IRACP) norms Stage 3 - - - - - Stage 1 3 9,550.20 1 81.35 3 9,368.85 1 62.70 1 8.65 All assets Stage 2 4 30.10 1 71.80 2 58.30 2 .30 1 69.50 Stage 3 1 ,316.30 9 49.60 3 66.70 1 84.80 7 64.80 Total 4 1,296.60 1 ,302.75 3 9,993.85 3 49.80 9 52.95 Note 1: The above table discloses the provisions amounts as per IRACP norms, while the Company has made a provision of non-performing assets as per the Company’s policy which is in excess of the IRACP norms. 52.4 As at March 31, 2023 Loss allowances Difference between Asset classification as per RBI Asset classification as Gross carrying (provisions) as Provisions required Net carrying amount Ind AS 109 provisions Norms per Ind AS 109 amount as per Ind AS required under Ind as per IRACP norms and IRACP norms AS 109 (1) (2) (3) (4) (5) = (3)-(4)(6) Performing assets Standard Stage 1 2 5,213.90 173.60 2 5,040.30 1 10.80 62.80 Standard Stage 2 2 50.20 3 5.00 2 15.20 4.00 31.00 Subtotal 2 5,464.10 2 08.60 2 5,255.50 1 14.80 9 3.80 Non-performing assets (NPA) Sub - standard Stage 3 6 51.80 3 26.10 3 25.70 7 2.80 2 53.30 Subtotal Sub -Standard 6 51.80 3 26.10 3 25.70 7 2.80 2 53.30 Doubtful - up to 1 year Stage 3 0 .60 - 0 .50 0 .60 ( 0.60) 1 to 3 years Stage 3 0 .10 0 .10 - 0 .10 - More than 3 years Stage 3 - - - - - Subtotal Doubtful 0 .70 0 .10 0 .50 0 .70 ( 0.60) Loss assets - - - - - Subtotal NPA Stage 3 6 52.50 3 26.20 3 26.20 7 3.50 2 52.70 Otheritemssuchasguarantees,loancommitments,Stage 1 - - - - - etc. which are in the scope of Ind AS 109 but not covered under current Income Recognition, AssetStage 2 - - - - - Classification and Provisioning (IRACP) norms Stage 3 - - - - - Stage 1 2 5,213.90 1 73.60 2 5,040.30 1 10.80 6 2.80 All assets Stage 2 2 50.20 3 5.00 2 15.20 4 .00 3 1.00 Stage 3 6 52.50 3 26.20 3 26.20 7 3.50 2 52.70 Total 2 6,116.60 5 34.80 2 5,581.70 1 88.30 3 46.50 Note 1: The above table discloses the provisions amounts as per IRACP norms, while the Company has made a provision of non-performing assets as per the Company’s policy which is in excess of the IRACP norms. Note 2: The above amounts does not include the impact of EIR on applicable fees and interest accrued on customer loans. 76Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) 53 RBI circular RBI/DNBR/2016-17/45 Master Direction DNBR. PD. 008/03.10.119/2016-17 September 01, 2016, as amended. 53.1 Asset Liability Management - Maturity pattern of certain items of assets and liabilities As at June 30, 2025 Over Over Over Over Over Over 15 days 1 to 7 8 to 14 1 month 2 months 3 months 6 months 1 year 3 year Over 5 Particulars to 30/31 Total days days up to up to up to up to up to up to years days 2 months 3 months 6 months 1 year 3 years 5 years Deposits - - - - - - - - - - - Advances* 2 ,937.37 - 4.81 1 ,970.74 1 ,996.69 6 ,127.26 1 1,645.58 2 1,205.24 3 ,686.28 1 ,428.32 5 1,002.29 Investments^ 3 00.04 2 ,899.63 2 ,346.04 6 92.84 1 20.75 4 18.82 1 ,026.27 4 55.95 - - 8 ,260.34 Borrowing** 4 14.22 131.19 1,648.27 2 ,283.10 2 ,109.77 5,545.17 8 ,941.90 2 0,252.15 1 ,983.58 - 4 3,309.36 Foreign currency - - - - - - - - - - - assets Foreign currency - - - - - 4 17.86 - 4 ,067.65 2 91.31 - 4 ,776.82 liabilities As at June 30, 2024 Over Over Over Over Over Over 15 days 1 to 7 8 to 14 1 month 2 months 3 months 6 months 1 year 3 year Over 5 to 30/31 Total days days up to up to up to up to up to up to years days 2 months 3 months 6 months 1 year 3 years 5 years Deposits - - - - - - - - - - - Advances* 2 ,507.89 - - 1 ,675.20 1 ,699.83 5 ,158.02 1 0,033.85 1 9,078.13 2 ,013.99 4 97.67 4 2,664.58 Investments^ 1 9.76 2,687.35 3,791.72 1 78.42 1 31.90 5 01.21 4 68.06 4 64.77 - - 8 ,243.19 Borrowing** 5 86.73 111.58 1,218.38 1 ,883.03 1 ,952.19 4 ,695.85 9 ,184.18 1 4,840.31 2 ,374.05 5 85.07 3 7,431.37 Foreign currency - - - - - - - - - - - assets Foreign currency 1 33.07 - - - - 6 93.50 - 1 ,897.04 9 59.93 2 80.07 3 ,963.61 liabilities As at March 31, 2025 Over Over Over Over Over Over 15 days 1 to 7 8 to 14 1 month 2 months 3 months 6 months 1 year 3 year Over 5 Particulars to 30/31 Total days days up to up to up to up to up to up to years days 2 months 3 months 6 months 1 year 3 years 5 years Deposits - - - - - - - - - - - Advances* 2 ,840.30 - - 1 ,915.70 1 ,943.40 5 ,961.90 1 1,631.00 2 0,814.40 3 ,163.40 1 ,181.71 4 9,451.81 Investments^ 2 ,317.80 1 ,411.40 1 ,559.10 1 76.80 1 02.60 3 46.80 1 ,004.90 2 98.36 - - 7 ,217.76 Borrowing** 5 11.60 1 95.40 1 ,032.80 1 ,689.20 1 ,963.20 5 ,606.80 1 0,756.80 1 7,851.90 2 ,364.44 - 4 1,972.14 Foreign currency - - - - - - - - - - - assets Foreign currency 6 0.70 - - - - - 2 76.20 2 ,663.40 2 90.81 - 3 ,291.11 liabilities As at March 31, 2024 Over Over Over Over Over Over 15 days 1 to 7 8 to 14 1 month 2 months 3 months 6 months 1 year 3 year Over 5 Particulars to 30/31 Total days days up to up to up to up to up to up to years days 2 months 3 months 6 months 1 year 3 years 5 years Deposits - - - - - - - - - - - Advances* 2 ,257.17 - - 1 ,557.98 1 ,580.97 4 ,843.86 9 ,524.55 1 7,985.93 1 ,805.29 4 38.10 3 9,993.85 Investments^ 2 ,503.14 400.24 186.14 1 78.74 1 28.94 5 12.94 5 98.54 4 30.49 - - 4 ,939.17 Borrowing** 4 47.30 290.40 1,196.30 1 ,415.30 2 ,570.90 4 ,932.70 9 ,082.10 9 ,930.70 8 92.10 5 94.60 3 1,352.40 Foreign currency - - - - - - - - - - - assets Foreign currency - - - - - - 7 81.00 1 ,910.80 9 45.70 - 3 ,637.50 liabilities 77Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) As at March 31, 2023 Over Over Over Over Over Over 15 days 1 to 7 8 to 14 1 month 2 months 3 months 6 months 1 year 3 year Over 5 to 30/31 Total days days up to up to up to up to up to up to years days 2 months 3 months 6 months 1 year 3 years 5 years Deposits - - - - - - - - - - - Advances* 1 ,584.53 - - 1 ,080.02 1 ,145.89 3 ,523.64 6 ,978.90 1 1,411.70 3 02.39 6 2.15 2 6,089.22 Investments^ 2 ,188.40 - 700.00 3 3.73 5 0.15 3 50.40 4 38.99 6 48.93 - - 4 ,410.60 Borrowing** 5 0.70 200.84 558.03 1 ,054.72 9 30.18 3 ,417.89 6 ,781.47 6 ,515.10 7 90.95 - 2 0,299.88 Foreign currency - - - - - - - - - - - assets Foreign currency - - - - 9 19.23 4 48.30 4 7.11 9 81.55 2 65.54 - 2 ,661.73 liabilities Notes * EIR on advances has been considered as per repayment schedule. * Net of provision for standard and non performing asset. * Advances not included staff loan. * The advances are gross of impairment loss allowance. ** EIR on borrowing has been considered in the last bucket of the respective borrowing. ^ Investments includes the amount of deposits with banks and mutual funds. (a) Advances and borrowings are inclusive of the securitisation transactions which have not been de-recognised in the books of accounts in accordance with Ind AS 109. (b) Above ALM does not consider cash balance existing as on balance sheet date. 78Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) 53.2 Summary of material accounting policies Refer to note 2 of Financial Statements for summary of material accounting policies. 53.3 Capital As at As at As at As at As at Particulars June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 (a) CRAR (%) 34.76% 32.91% 34.92% 32.79% 31.07% (b) CRAR - Tier I Capital (%) 34.76% 32.91% 34.92% 32.79% 31.07% (c) CRAR - Tier II Capital (%) - - - - - (d) Amount of subordinated debt raised as Tier-II capital - - - - - (e) Amount raised by issue of perpetual debt instruments - - - - - 53.4 Investments As at As at As at As at As at Particulars June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Value of investments Gross value of investments In India 1,037.58 332.48 7 61.64 159.59 895.60 Outside India - - - - - Provisions for depreciation In India 3 28.21 53.50 3 44.01 53.50 51.00 Outside India - - - - Net value of investments In India 709.37 278.98 417.63 106.09 844.60 Outside India - - - Movement of provisions held towards depreciation on investments Opening balance 3 44.01 53.50 53.50 51.00 29.40 Add : Provisions made during the year/period - - 2 90.51 2.50 21.60 Less Write-off / write-back of excess provisions during the 1 5.80 - - - - year/period Closing balance 328.21 53.50 344.01 53.50 51.00 53.5 Derivatives 53.5.1 Forward rate agreement / interest rate swap As at As at As at As at As at Particulars June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 The notional principal of swap agreements 4,643.29 3,842.57 3,239.13 3,562.68 2,577.40 Losses which would be incurred if counterparties failed to fulfil - - - - - their obligations under the agreements Collateral required by the NBFC upon entering into swaps - - - - - Concentration of credit risk arising from the swaps* - - - - - The fair value of the swap book 99.37 (44.84) 2.41 (31.52) 30.70 * Counter- party for all swaps entered into by the Company are Scheduled Commercial Banks. 53.5.2 Exchange traded interest rate (IR) derivatives Particulars Amount Notional principal amount of exchange traded IR derivatives undertaken during the year (instrument-wise) a) Nil Nil b) Nil Nil c) Nil Nil Notional principal amount of exchange traded IR derivativesoutstandingasonJune30,2025,June30,2024,March31,2025,March31,2024and March 31, 2023 (instrument-wise) a) Nil Nil b) Nil Nil c) Nil Nil Notional principal amount of exchange traded IR derivatives outstanding and not "highly effective" (instrument-wise) a) Nil Nil b) Nil Nil c) Nil Nil Mark-to-market value of exchange traded IR derivatives outstanding and not "highly effective" (instrument-wise) a) Nil Nil b) Nil Nil c) Nil Nil 79Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) 53.5.3 Disclosures on risk exposure in derivatives Qualitative disclosures TheCompanyundertakesthederivativestransactiontoprudentlyhedgetheriskincontextofaparticularborrowingortodiversifysourcesofborrowingandtomaintainfixedandfloatingborrowingmix.TheCompanydoesnotindulgeintoanyderivativetradingtransactions.TheCompanyreviews,theproposedtransaction andoutlineanyconsiderationsassociatedwiththetransaction,includingidentificationofthebenefitsandpotentialrisks(worstcasescenarios);anindependentanalysisofpotentialsavingsfromtheproposedtransaction.TheCompanyevaluatesalltherisksinherentinthetransactionviz.,counterpartyrisk,MarketRisk, Operational Risk, basis risk etc. CreditriskiscontrolledbyrestrictingthecounterpartiesthattheCompanydealswith,tothosewhoeitherhavebankingrelationshipwiththeCompanyorareinternationallyrenownedorcanprovidesufficientinformation.Market/Priceriskarisingfromthefluctuationsofinterestratesandforeignexchangeratesorfrom otherfactorsshallbecloselymonitoredandcontrolled.Normallytransactionenteredforhedging,willrunoverthelifeoftheunderlyinginstrument,irrespectiveofprofitorloss.Liquidityriskiscontrolledbyrestrictingcounterpartiestothosewhohaveadequatefacility,sufficientinformation,andsizabletradingcapacity and capability to enter into transactions in any markets around the world. Therespectivefunctionsoftrading,confirmationandsettlementshouldbeperformedbydifferentpersonnel.Thefrontofficeandback-officeroleiswelldefinedandsegregated.Allthederivativestransactionsarequarterlymonitoredandreviewed.Allthederivativetransactionshavetobereportedtotheboardof directors on every quarterly board meetings including their financial positions. Quantitative disclosures Particulars As at June 30, 2025 As at June 30, 2024 As at March 31, 2025 As at March 31, 2024 As at March 31, 2023 Currency Currency Interest Rate Currency Interest Rate Interest Rate Currency Interest Rate Interest Rate Derivatives Currency Derivatives* Derivatives* Derivatives* Derivatives Derivatives* Derivatives Derivatives Derivatives* Derivatives Derivative (notional principal amount) – for hedging 4,643.29 - 3,842.57 - 3,239.13 - 3,562.68 - 2,577.40 - Marked to market positions 99.37 (44.84) - 2.41 - (31.52) - 30.70 - Credit exposure 4,643.29 - 3,842.57 - 3,239.13 - 3,562.68 - 2,577.40 - Unhedged exposures - - - - - - - - - - * Cross currency interest rate swap 53.6 Disclosures relating to Securitisation (Refer Note No. 45 of the financial statements.) 53.7 Exposures 53.7.1 Exposure to real estate sector As at As at As at As at As at Category June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 (a) Direct exposure Residential mortgages* 8 ,293.90 4 ,881.54 7 ,209.42 4 ,317.50 1 ,620.39 Lending fully secured by mortgages on residential property that is or will be occupied by the borrower or that is rented. Exposure would also include non-fund based limits. 8 ,293.90 4 ,881.54 7 ,209.42 4 ,317.50 1 ,620.39 Commercial real estate 6 07.49 2 53.93 4 50.70 2 20.00 4 9.20 Lending secured by mortgages on commercial real estates (office buildings, retail space, multi- purpose commercial premises, multi-family residential buildings, multi-tenanted commercial premises, industrial or 6 07.49 2 53.93 4 50.70 2 20.00 4 9.20 warehouse space, hotels, land acquisition, development and construction, etc.). Exposure would also include non-fund based limits Investments in Mortgage Backed Securities (MBS) and other securitised exposures NIL NIL NIL NIL NIL Residential NIL NIL NIL NIL NIL Commercial real estates NIL NIL NIL NIL NIL (b) Indirect Exposure Fund based and non-fund-based exposures on National Housing Bank and Housing Finance Companies. NIL NIL NIL NIL NIL 8 ,901.39 5 ,135.47 7 ,660.12 4 ,537.50 1 ,669.59 *including loans on properties which are being used as mix i.e. residential and commercial. 80Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) 53.7.2 Exposure to capital market As at As at As at As at As at Particulars June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 (a) Direct investment in equity shares, convertible bonds, convertible debentures and units of equity-oriented mutual funds the corpus of which is not exclusively invested in corporate debt; NIL NIL NIL NIL NIL (b) Advances against shares / bonds / debentures or other securities or on clean basis to individuals for investment in shares (including IPOs / ESOPs), convertible bonds, convertible debentures, and units NIL NIL NIL NIL NIL of equity-oriented mutual funds; (c) Advances for any other purposes where shares or convertible bonds or convertible debentures or units of equity oriented mutual funds are taken as primary security; NIL NIL NIL NIL NIL (d) Advances for any other purposes to the extent secured by the collateral security of shares or convertible bonds or convertible debentures or units of equity oriented mutual funds i.e. where the primary NIL NIL NIL NIL NIL security other than shares / convertible bonds / convertible debentures / units of equity oriented mutual funds' does not fully cover the advances; (e) Secured and unsecured advances to stockbrokers and guarantees issued on behalf of stockbrokers and market makers; NIL NIL NIL NIL NIL (f) Loans sanctioned to corporates against the security of shares / bonds / debentures or other securities or on clean basis for meeting promoter's contribution to the equity of new companies in anticipation of raising resources; NIL NIL NIL NIL NIL (g) Bridge loans to companies against expected equity flows / issues; NIL NIL NIL NIL NIL (h) Underwriting commitments taken up by the NBFCs in respect of primary issue of shares or convertible bonds or convertible debentures or units of equity oriented mutual funds NIL NIL NIL NIL NIL (i) Financing to stockbrokers for margin trading NIL NIL NIL NIL NIL (j) All exposures to Alternative Investment Funds: NIL (i) Category I NIL NIL NIL NIL NIL (ii) Category II NIL NIL NIL NIL NIL (iii) Category III NIL NIL NIL NIL NIL - - - - - Note 1 : The above 53.7.1 & 53.7.2, information is provided as per MIS/reports generated available for internal reporting purpose which include certain estimates and assumptions. The same has been relied upon by the auditors. Note 2: There is an investment in subsidiary at cost (unquoted) i.e. 249,999 equity shares of RS 10 in Foundation for Advancement of Micro Enterprises (FAME) total Rs. 2.50 millions. Please refer note 6 - "Investments". 53.8 Details of financing of parent company products The Company doesn’t have parent Company, hence this clause is not applicable. 53.9 Details of Single Borrower Limit (SBL) / Group Borrower Limit (GBL) exceeded by the NBFC The Company has not exceeded the Single Borrower Limit (SGL) / Group Borrower Limit (GBL) during June 30, 2025 , June 30, 2024, March 31, 2025, March 31, 2024 and March 31, 2023. 53.10 Unsecured advances The Company has given Rs. 22,256.30 millions (June 30, 2024 Rs.18,622.97 millions, March 31, 2025 Rs. 22,029.04 millions, March 31, 2024 Rs. 16,591.89 millions and March 31, 2023 Rs. 8,161.81 millions) of unsecured loans. 53.11 Miscellaneous 53.11.1 Registration obtained from other financial sector regulators The Company does not hold any other registration other than NBFC registration from RBI and Corporate Agent from IRDAI. Registration/ License Issuing Authority Registration / License number Certificate of Registration Reserve Bank Of India (RBI) B-14.03323 Certificate of Registration-Corporate Agent Insurance Regulatory and Development Authority of India (IRDAI) CA0957 (Valid till 26-Jun-2027) 81Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) 53.11.2 Disclosure of penalties imposed by RBI and other regulators – No penalties were imposed by the regulator during the year / period ended June 30, 2025 , June 30, 2024, March 31, 2025 ,March 31, 2024 and March 31, 2023. 53.11.3 Related party transactions Refer note 36 of Financial Statements for related party transaction disclosure. The company have not entered into any transactions related to borrowings, deposits, placement of deposits, advance, purchase/sale of fixed/other assets and Investments during the period with directors, KMP and their relatives except (i) advance given to subsidiary (FAME) of Rs. 34.66 Millions , maximum outstanding during the period of Rs. 34.66 Millions and outstanding as on June 30, 2025 of Rs. 29.45 Millions. (ii) loan given to KMP of Rs. NIL, maximum outstanding during the period of Rs. 3.32 Millions and outstanding as on June 30, 2025 of Rs. 2.46 Millions. 53.11.4 Ratings assigned by credit rating agencies and migration of ratings during the period/year As at June 30, 2025 As at June 30, 2024 FY 2024-25 FY 2023-24 FY 2022-23 Rating purpose Rating Rating Rating Rating Rating Rating Rating Rating Rating Rating Assigned Outlook Assigned Outlook Assigned Outlook Assigned Outlook Assigned Outlook Aye Finance Limited (Formerly known as Aye Finance Private Limited) by India Ratings & Research^ NCD Rs. 19,084.50 millions (June 30,2024 Rs.14,291.60 millions, March 31, 2025 Rs.19,084.50 millions , [IND] A Stable [IND] A- Positive [IND] A Stable [IND] A- Positive [IND] A- Stable March 31, 2024 Rs. 10,137.90 millions and March 31, 2023 Rs. 12,488.30 millions.)* Bank loans Rs. 10,000.00 millions (June 30,2024 Rs. 7000 millions, March 31, 2025 Rs.10,000.00 [IND] A Stable [IND] A- Positive [IND] A Stable [IND] A- Positive [IND] A- Stable millions, March 31, 2024 Rs. 5,000.00 millions and March 31, 2023 Rs. 4,000.00 millions.)* Commercial paper Rs. 500.00 millions (June 30,2024 Rs. 500.00 millions, March 31, 2025 Rs.500.00 [IND] A1 - [IND] A1 - [IND] A1 - [IND] A1 - [IND] A2+ Stable millions, March 31, 2024 Rs. 500.00 millions and March 31, 2023 Rs. 500.00 millions.)* Principal protected market-linked debenture (PP-MLD) Rs.50.00 millions (June 30,2024 Rs. 50.00 millions, March 31,2025 Rs.50.00 millions, March 31, 2024 Rs. 1,950.00 millions and March 31, 2023 Rs. IND PP-MLD A Stable IND PP-MLD A - Positive IND PP-MLD A Stable IND PP-MLD A - Positive IND PP-MLD A - Stable 2,100.00 millions.)* Aye Finance Limited (Formerly known as Aye Finance Private Limited) by ICRA Long Term Bank Facility June 30,2025 Rs. 5,500.00 millions, March 31,2025 Rs. 5,500.00 millions*** [ICRA] A Stable N.A. N.A. [ICRA] A Stable N.A. N.A. N.A. N.A. NCD for March 31,2023 Rs. 650.00 millions.** N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A. [ICRA] BBB+ Positive *Pursuant to the rating letter dated July 19,2024 by India Ratings and Research Limited has upgraded Aye Finance Limited’s (Formely known as Aye Finance Private Limited ) (Aye) Long-Term Issuer Rating to ‘IND A/Stable Outlook’ from ‘IND A-/ Positive Outlook’ ** ICRA ratings withdrawn w.e.f. May 19, 2023. *** ICRA Rating letter dated December 06, 2024. ^PursuanttotheratingletterdatedJuly08,2025byIndiaRatingsandResearchLimitedAffirmsAyeFinance’sExistingandRatesAdditionalNCDsofRs.4,550.00millionandBankLoansofRs.3,000.00millionat‘INDA’/Stable;WithdrawsRatingonPP-MLDsofRs.50.00millionandNon-convertibledebenturereducedtoRs. 14,699.81 million from Rs. 19,084.5 million. 82Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) 53.12 Additional disclosures 53.12.1 Provisions and contingencies Break up of 'provisions and contingencies' shown under the head expenditure in the As at As at As at As at As at statement of profit and loss account June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Provisions for depreciation on investment (15.80) - 290.51 - 51.00 Provision towards NPA 190.43 143.82 516.80 623.80 (12.40) Provision made towards income tax net of deferred tax 108.20 205.30 497.60 561.77 315.23 Other provision and contingencies (Gratuity and Leave encashment) 39.43 33.69 108.90 73.90 10.60 Other provision and contingencies (Impairment Provision on Staff Loans) 0.69 - 5.30 - - Provision for Standard assets 6.09 66.24 301.97 144.20 2.20 53.12.2 Draw down from reserves The Company has not made any drawdown from the reserve during the year/period. 53.13 Concentration of deposits, advances, exposures and NPAs The Company has not taken any deposits from any party. 53.13.1 Concentration of advances As at As at As at As at As at Particulars June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Total advances to twenty largest borrowers 5 0.94 2 2.94 3 3.30 2 1.30 1 8.30 Percentage of Advances to twenty largest borrowers to Total Advances of the NBFC 0.10% 0.05% 0.06% 0.05% 0.07% 53.13.2 Concentration of exposures As at As at As at As at As at Particulars June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Total exposure to twenty largest borrowers / customers 5 0.94 2 2.94 3 3.30 2 1.30 3 27.20 Percentage of exposures to twenty largest borrowers / customers to total 0.10% 0.05% 0.06% 0.05% 1.24% exposure of the NBFC on borrowers / customers 53.13.3 Concentration of NPAs As at As at As at As at As at Particulars June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Total exposure to top four credit impaired accounts 3 .88 2 .67 3 .60 2 .80 1 .80 53.13.4 Sector-wise NPAs Sector Percentage of NPAs to total advances in that sector As at As at As at As at As at June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 (a) Agriculture and allied activities - - - - (b) MSME 4.60% 3.32% 4.21% 3.19% 2.49% (c) Corporate borrowers - - - - (d) Services - - - - (e) Unsecured personal loans - - - - (f) Auto loans - - - - (g) Other personal loans - - - - 53.13.5 Movement of NPAs As at As at As at As at As at Particulars June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 (a) Net NPAs to Net Advances (%) 1.54% 0.87% 1.40% 0.91% 1.28% (b) Movement of NPAs (Gross) (i) Opening balance 2,170.40 1,316.30 1,316.30 653.90 572.80 (ii) Additions during the year 918.71 470.39 2,005.70 1,194.40 612.93 (iii) Reductions during the year (637.71) (319.30) (1,151.60) (532.00) (531.83) (iv) Closing balance 2,451.40 1,467.39 2,170.40 1,316.30 653.90 (c) Movement of Net NPAs (i) Opening balance 704.00 366.70 366.70 328.10 234.20 (ii) Additions during the year 351.54 196.38 779.70 288.50 310.73 (iii) Reductions during the year (260.97) (189.11) (442.40) (249.90) (216.83) (iv) Closing balance 794.57 373.97 704.00 366.70 328.10 Movement of provisions for NPAs (excluding provisions on standard (d) assets) (i) Opening balance 1,466.40 949.60 949.60 325.80 338.60 (ii) Additions during the year 567.17 274.01 1,226.00 905.90 302.20 (iii) Reductions during the year (376.74) (130.19) (709.20) (282.10) (315.00) (iv) Closing balance 1,656.83 1,093.42 1,466.40 949.60 325.80 53.14 Overseas assets The Company does not own any assets outside the country. 53.15 Off – balance sheet SPVs sponsored The Company does not have any off balance sheet SPV sponsored either domestic or overseas. 83Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) 53.16 Disclosure of customer complaints 53.16.1 Summary information on complaints received by the NBFCs from customers and from the Offices of Ombudsman As at As at As at As at As at S. No. Particulars June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Complaints received by the NBFC from its customer (a) No. of complaints pending at the beginning of the period / year 49 12 12 4 - (b) No. of complaints received during the period / year 507 2 80 1 ,612 864 405 (c) No. of complaints redressed during the period / year 512 2 60 1 ,575 856 401 Of which, number if complaints rejected by the NBFC* - - - - - (d) No. of complaints pending at the end of the period / year 44 32 49 12 4 Maintainable complaints received by the NBFC from office of Ombudsman Maintainable complaints received by the NBFC from office of (e) 5 7 40 31 14 Ombudsman Of (e) , No of complaints resolved in favour of the NBFC from office 5 7 39 31 13 of Ombudsman Of (e) ,No of complaints resolved through - - 1 - 1 Conciliation/Mediation/advisories issued by office of Ombudsman Of (e) ,No of complaints resolved after passing of awards by office of - - - - Ombudsman against the NBFC No. of awards unimplemented with in the Stipulated time ( other (f) - - - - than those appealed) * Represents number of complaints submitted by internal ombudsman to RBI vide circular no. RBI/2021-2022/126 dated November 15, 2021 Note : The above information is provided as per MIS/reports generated available for internal reporting purpose which include certain estimates and assumptions. The same has been relied upon by the auditors. 53.16.2 Top five grounds of complaints received by the NBFCs from customers Three months ended June 30, 2025 %Increase / decrease Number of complaints Of 5, Number of complaints in the number of Number of complaints pending at number of complaints SL No. Grounds of complaints received during the complaints received pending at the end of the beginning pending three months over the previous the three months of three months beyond 30 days three months (a) Credit Bureau Rectification 8 1 55 60% 6 - (b) Customer Interaction Issue 21 1 74 100% 25 1 (c) Customer Dispute or Money Misappropriation 4 57 111% 4 - (d) Settlement Related 5 28 47% 1 - (e) Contact Number Update/Removal (non-Existing) 6 32 100% - - (f) Others 5 61 79% 8 - 4 9 5 07 81% 4 4 1 Three months ended June 30, 2024 %Increase / decrease Number of complaints Of 5, Number of complaints in the number of Number of complaints pending at number of complaints SL No. Grounds of complaints received during the complaints received pending at the end of the beginning pending three months over the previous the three months of three months beyond 30 days three months (a) Credit Bureau Rectification 6 97 N/A 5 - (b) Customer Interaction Issue 3 87 N/A 15 - (c) Customer Dispute or Money Misappropriation 1 27 N/A 4 - (d) Settlement Related - 19 N/A 1 - (e) Contact Number Update/Removal (non-Existing) 1 16 N/A 2 - (f) Others 1 3 4 N/A 5 - 1 2 2 80 N/A 3 2 - Year ended March 31, 2025 Number of complaints %Increase / decrease Of 5, Number of complaints Number of complaints pending at in the number of number of complaints SL No. Grounds of complaints received during the pending at the end of the beginning complaints received pending year the year of the year over the previous year beyond 30 days (a) Credit Bureau Rectification 6 4 73 45% 8 - (b) Customer Interaction Issue 3 5 42 131% 21 - (c) Customer Dispute or Money Misappropriate 1 1 62 206% 4 - (d) Settlement Related - 1 12 87% 5 - (e) Contact Number Update/Removal 1 82 156% 6 - (f) Others 1 2 41 54% 5 - 1 2 1 ,612 87% 4 9 - 84Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) Year ended March 31, 2024 Number of complaints %Increase / decrease Of 5, Number of complaints Number of complaints pending at in the number of number of complaints SL No. Grounds of complaints received during the pending at the end of the beginning complaints received pending year the year of the year over the previous year beyond 30 days (a) Credit Bureau Rectification 2 3 27 57% 6 - (b) Customer Interaction Issue 1 2 35 279% 3 - (c) Customer Dispute or Money Misappropriation - 53 212% 1 - (d) Settlement Related - 60 NA - - (e) Contact Number Update/Removal (non-Existing) - 32 191% 1 - (f) Others 1 1 57 67% 1 - 4 8 64 113% 1 2 - Year ended March 31, 2023 Number of complaints %Increase / decrease Of 5, Number of complaints Number of complaints pending at in the number of number of complaints SL No. Grounds of complaints received during the pending at the end of the beginning complaints received pending year the year of the year over the previous year beyond 30 days (a) Credit Bureau Rectification - 2 08 121% 2 - (b) Customer Interaction Issue - 62 40% 1 - (c) Refund issue ( Charges/extra EMI refund) - 17 467% - - (d) Settlement Related - 13 217% - - (e) Commission Asked - 11 1100% - - (f) Others - 9 4 104% 1 - - 4 05 96% 4 - Note : The above information is provided as per MIS/reports generated available for internal reporting purpose which include certain estimates and assumptions. The same has been relied upon by the auditors. 53.17 Expenditure on corporate social responsibility Refer note 31 of Financial Statements for disclosure pertaining to corporate social responsibility expenses. 53.18 Disclosure on frauds pursuant to RBI Master Direction The frauds detected and reported for the year / period amounted to Rs. 1.33 millions (June 30, 2024 Rs. 1.33 millions ,March 31, 2025 Rs. 3.03 millions , March 31, 2024 Rs. 4.23 millions , March 31, 2023 Rs. 0.6 millions.) 53.19 Micro, Small and Medium Enterprises (MSME) sector - Restructuring of advances As at As at As at As at As at Particulars June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 No. of accounts restructured 90 2 42 1 11 343 1,436 Amount (Rs. in millions)* 3 .27 1 7.56 4 .80 26.10 103.60 * Balances are as at June 30, 2025, June 30, 2024, March 31, 2025, March 31, 2024 & March 31, 2023. 53.20 Details of the Code on Social Security, 2020 (‘CODE’) relating to employee benefits TheCodeonSocialSecurity,2020(‘Code’)relatingtoemployeebenefitsduringemploymentandpost-employmentbenefitsreceivedPresidentialassentinSeptember,2020.TheCodehasbeenpublishedinthe GazetteofIndia.However,thedateonwhichtheCodewillcomeintoeffecthasnotbeennotifiedandthefinalrules/interpretationhavenotyetbeenissued.TheCompanywillassesstheimpactoftheCode when it comes into effect and will record any related impact in the period the Code becomes effective. 85Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) 53.21 TheCompanyowns100%ofFoundationforAdvancementofMicroEnterprises(FAME),incorporatedunderSection8oftheCompaniesAct,2013, tocarryonsocialresponsibilityactivities.Thefinancial statements of FAME are not considered for consolidation since the definition of control is not met as the Company's objective is not to obtain economic benefits from the activities of FAME. 53.22 Transactions with non-executive directors As at As at As at As at As at Name of non-executive director Transaction type June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Mr. Navin Kumar Maini Payment of sitting fees - - - 0.53 1.00 Ms. Kanika Tandon Bhal Payment of sitting fees 0 .19 0 .27 1 .14 0.65 0.30 Mr. Vinay Baijal Payment of sitting fees 0 .31 - 0 .76 0.46 0.80 Ms. Arpita Pal Agarwal Payment of sitting fees - - - 0.34 0.40 Mr. Sanjaya Gupta Payment of sitting fees 0 .27 0 .34 1 .41 0.72 - Mr. Govinda Rajulu Chinta Payment of sitting fees 0 .22 0 .33 1 .66 0.80 - Ms. Padmaja Nair Payment of sitting fees 0 .11 - 0 .50 - 1.10 0.94 5.47 3.50 2.50 53.23 Postponement of revenue recognition There is no significant uncertainty which requires postponement of revenue recognition. 53.24 Details of dues to micro and small enterprises as defined under the MSMED Act, 2006 Payment against the supplies from the undertakings covered under the Micro, Small & Medium Enterprises Development Act, 2006 are generally made in accordance with the agreed credit terms. Onthebasisofinformationandrecordavailablewiththemanagement,therearenooverdue balancesofsuchsuppliersandinterestdueonsuchaccountsasonJune30,2025,June30,2024,March31,2025, March 31, 2024, March 31, 2023. The Company has neither paid any interest nor such amount is payable to buyer covered under the MSMED Act, 2006. 53.25 Details of non-performing financial assets purchased/sold The Company has not sold non performing financial asset during three months June 30, 2025 , June 30, 2024 , financial year 2023-24 , and has sold non performing financial asset during financial year 2024-25 and financial year 2022-2023 . Refer Note no. 53.27.1 (c ). 53.26 Value of imports calculated on CIF basis The Company has not imported any goods therefore value of import on CIF basis is Nil. (As on June 30, 2024, March 31, 2025, March 31, 2024, March 31, 2023. – Nil). 53.27 DisclosurepursuanttoMasterDirection-ReserveBankofIndia(TransferofLoanExposures)Directions,2021issuedbytheReserveBankofIndia ("RBI")videtheirNotificationNo.RBI/DOR/2021-22/86 Master Direction DOR.STR.REC.51/21.04.048/2021-22 dated September 24, 2021 (the "Notification") 53.27.1 Details of non-performing assets (NPAs) transferred are given below: Disclosure pursuant to RBI notification - RBI/DOR/2021-22/86 DOR.STR.REC.51/21.04.048/2021-22 dated September 24, 2021 (a) Details of transfer through assignment in respect of loans not in default during the year/ period ended. Particulars As at As at As at As at As at June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Aggregate amount of loans transferred 598.80 412.20 2,086.70 2 ,467.80 2 ,069.80 Retention of beneficial economic interest (MRR) 10% 10% 10% 10% 10% Weighted average maturity (residual maturity) 58.58 months 19.13 months 46.02 months 18.4 months 16.7 months Weighted average holding period/year 13.41 months 9.21 months 13.27 months 7.64 months 7.1 months Coverage of tangible security - - - - - Rating-wise distribution of rated loans Unrated Unrated Unrated Unrated Unrated (b) Details of loans acquired through assignment (not in default) during the year/ period ended. Particulars As at As at As at As at As at June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Aggregate amount of loans acquired 565.20 - - - - Retention of beneficial economic interest (MRR) 10% - - - - Weighted average maturity (residual maturity) 93.86 months - - - - Weighted average holding period/year 17.58 months - - - - Coverage of tangible security - - - - - Rating-wise distribution of rated loans Unrated - - - - (c) Details of loans re-purchased in compliance with paragraph 48 of Master Direction - RBI (Transfer of loan exposures) Directions, 2021 during the period/year ended June 30, 2025, June 30, 2024, March 31, 2025, March 31, 2024, March 31, 2023: Nil (d)(i) Details of stressed loans transferred during the year/ period to Asset Reconstruction Companies: As at As at As at As at As at Particulars June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 NPA NPA NPA* NPA NPA* No. of accounts - - 31,453 - 9,024 Aggregate principal outstanding of loans transferred (Rs. in millions) - - 2,593.70 - 837.60 Weighted average residual tenor of the loans transferred (in months) - - - - 11 months Net book value of loans transferred (at the time of transfer) (Rs. in millions) - - - - 111.10 Aggregate consideration (Rs. in millions) - - 363.10 - - Additional consideration realised in respect of accounts transferred in earlier year - - - - - *Including written off loans amounting to Rs. 2593.7 millions in March, 2025 and Rs. 516.5 millions in March, 2023. (d)(ii) Details of security receipt held and credit ratings Particulars Rating Agency As at June 30, 2025 Arcil -Retail Loan portfolio-077-A-Trust India Ratings RR1 Arcil -Retail Loan portfolio-077-B-Trust Crisil Ratings RR1 Arcil -Trust-2025-013 Unrated Unrated (e) The Company has not acquired any stressed loan during the year/ period ended June 30, 2025, June 30, 2024, March 31, 2025, March 31, 2024, March 31, 2023. 53.27.2 The Company has not acquired any special mention account or stressed loan or loan not in default. 86Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) 53.27.3 Disclosures as required for liquidity risk (a) Funding concentration based on significant counterparty (both deposits and borrowings) As at As at As at As at As at Particulars June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Number of significant counter parties 25 29 27.00 33 34 Amount 33,591.50 29,698.28 31,931.00 30,141.40 20,823.73 Percentage of funding concentration to total deposits N.A. N.A. N.A. N.A. N.A. Percentage of funding concentration to total liabilities 67.53% 69.48% 68.23% 82.89% 87.81% (b) Top 20 large deposits As at As at As at As at As at Particulars June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Total amount of top 20 deposits N.A. N.A. N.A. N.A. N.A. Percentage of amount of top 20 deposits to total deposits N.A. N.A. N.A. N.A. N.A. (c) Top 10 borrowings As at As at As at As at As at Particulars June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Total amount of top 10 borrowings 2 1,767.06 1 8,049.71 1 9,725.10 1 7,889.00 11,133.72 Percentage of amount of top 10 borrowings to total borrowings* 45.27% 43.60% 43.58% 49.19% 48.49% * Total borrowing does not include EIR & Accrued Interest amount (d) Funding concentration based on significant instrument/product As at J une 30, 2025 As at J une 30, 2024 As at M arch 31, 2025 As at M arch 31, 2024 As at M arch 31, 2023 Name of the instrument/product % of % of % of % of % of Amount Amount Amount Amount Amount Total Liabilities Total Liabilities Total Liabilities Total Liabilities Total Liabilities Non-convertible debentures (Secured) 1 4,257.03 28.66% 1 2,395.44 29.00% 1 4,077.48 30.08% 9 ,126.44 25.09% 7 ,719.20 3 2.55% Non-convertible debentures (Unsecured)* - - 1 ,088.70 2.55% - - 1 ,096.99 3.02% 1 ,279.30 5 .39% Term Loans 1 8,053.40 36.29% 1 3,916.52 32.56% 1 8,528.92 39.59% 1 3,070.55 35.94% 5 ,250.90 2 2.14% Borrowing under securitization arrangement 1 0,926.12 21.97% 9 ,980.71 23.35% 9 ,251.27 19.77% 8 ,008.48 22.02% 5 ,620.40 2 3.70% External commercial borrowings 4 ,776.82 9.60% 3 ,963.61 9.27% 3 ,291.11 7.03% 3 ,637.44 10.00% 2 ,661.80 1 1.22% Working capital/Line of credit/Overdraft - - - - - - - - 4 30.00 1 .81% facility** * It is less than 1% hence it is not disclosed in June 30,2025 and March 31,2025. ** It is less than 1% hence it is not disclosed in June 30,2025, June 30,2024, March 31,2025 and March 31,2024 87Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) (e) Stock ratios As at As at As at As at As at Particulars June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Commercial papers as a % of total public funds - - - - - Commercial papers as a % of total liabilities - - - - - Commercial papers as a % of total assets - - - - - Non-convertible debentures(original maturity of less than 1 year) as a % of total public funds - - - - - Non-convertible debentures (original maturity of less than 1 year) as a % of total liabilities - - - - - Non-convertible debentures (original maturity of less than 1 year) as a % of total assets - - - - - Other short-term liabilities as a % of total public funds 47.23% 51.82% 51.45% 62.24% 65.22% Other short-term liabilities as a % of total liabilities 45.66% 50.18% 49.76% 59.88% 63.14% Other short-term liabilities as a % of total assets 34.07% 38.53% 36.74% 44.69% 47.69% Note 1 : Significant counterparty is as defined in RBI Circular RBI/1019-20/88 DOR. NBFC (PD) CC. No. 102/03. 10.001/2019-20 dated November 4, 2019 on liquidity risk management framework for NBFC and Core Investment Companies. Note 2 : Significant instrument/product is as defined in RBI Circular RBI/1019-20/88 DOR. NBFC (PD) CC. No. 102/03. 10.001/2019-20 dated November 4, 2019 on liquidity risk management framework for NBFC and Core Investment Companies. Note 3 : Public funds are as defined in Master Direction - Non Banking Financial Company - Scale based circular DOR.CRE.REC.No.60/03.10.001/2021-22 dated October 22, 2021. 88Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) 53.27.4 LCR Disclosure SL No. Particulars Total Unweighted V alue (average) Total Weighted V alue (average) High Quality Liquid Assets 1 **Total High Quality Liquid Assets (HQLA) 2 ,585.48 2 ,585.48 Cash Outflows 2 Deposits (for deposit taking companies) - - 3 Unsecured wholesale funding 1 46.22 168.15 4 Secured wholesale funding 1 ,455.39 1 ,673.70 5 Additional requirements, of which (i)Outflows related to derivative exposures and other collateral requirements - - (ii)Outflows related to loss of funding on debt products - - (iii)Credit and liquidity facilities - - 6 Other contractual funding obligations 5 60.49 644.56 7 Other contingent funding obligations - - 8 TOTAL CASH OUTFLOWS 2 ,162.10 2 ,486.42 Cash Inflows 9 Secured lending - - 10 Inflows from fully performing exposures 1 ,962.25 1 ,471.69 11 Other cash inflows 3 ,278.73 2 ,459.05 12 TOTAL CASH INFLOWS 5 ,240.98 3 ,930.74 Total Adjusted Value 13 TOTAL HQLA 2 ,585.48 14 TOTAL NET CASH OUTFLOWS 621.60 15 LIQUIDITY COVERAGE RATIO (%) 415.94% 89Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) 53.28 Transfer of financial assets 53.28.1 Transferred financial assets that are not derecognised in their entirety Thefollowingtablesprovideasummaryoffinancialassetsthathavebeentransferredinsuchawaythatpartorallofthetransferredfinancialassetsdonotqualifyfor derecognition,together with the associated liabilities. TheCompanyhastransferredcertainpoolsoffixedrateloanreceivablesbackedbyunderlyingassetsbyenteringintosecuritisationtransactionswiththeSpecialPurposeVehicleTrusts(SPV Trust) sponsored by financial institution for consideration received in cash at the inception of the transaction. TheCompany,beingOriginatoroftheseloanreceivables,alsoactsasServicerwitharesponsibilityofcollectionofreceivablesfromitsborrowersanddepositingthesameinCollectionandPay- outAccountmaintainedbytheSPVTrustformakingscheduledpay-outstotheinvestorsinPassThroughCertificates(PTCs)issuedbytheSPVTrust.Thesesecuritisationtransactionsalso requirestheCompanytoprovideforfirstlosscreditenhancementinvariousforms,suchascorporateguarantee, cashcollateraletc.ascreditsupportintheeventofshortfallincollections fromunderlyingloancontracts.Byvirtueofexistenceofcreditenhancement,theCompanyisexposedtocreditrisk,beingtheexpectedlossesthatwillbeincurredonthetransferredloan receivablestotheextentofthecreditenhancementprovided.Inviewof theabove,theCompanyhasretainedsubstantiallyalltherisksandrewardsofownershipofthefinancialassetand thereby does not meet the derecognition criteria as set out in Ind-AS 109. Consideration received in this transaction is presented as ‘Borrowing under Securitisation’ under Note 14. As at As at As at As at As at Particulars June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Carrying amount of transferred assets measured at amortised cost* 1 2,445.73 10,910.28 10,587.30 8,913.00 5,968.10 Carrying amount of associated liabilities (Debt securities -measured 1 0,926.12 9,980.71 9,251.27 8,008.50 5,620.30 at amortised cost) *Consist of unbilled & overdue principal. 53.28.2 Transferred financial assets that are derecognised Duringtheyear,thecompanyhasassigned(earliermeasuredatamortisedcost)bywayofdirectassignmentaspertheagreedtermsofthedeals.Sincesubstantialriskandrewardsrelatedto theseassetsweretransferredtothebuyer,theassethavebeende-recognisedfromthebooksofaccounts.Thetablebelowsummarisesthecarryingamountofthederecognisedfinancialassets measured at amortised cost and the gain/(loss) on derecognition during the year. As at As at As at As at As at Particulars June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Carrying amount of transferred assets measured at amortised cost 2 ,734.81 1,996.96 2406.70 2,141.44 1,220.70 Carrying amount of exposures retained by the company at 273.48 1 99.70 2 40.67 214.14 122.07 amortised cost Gain on sale of the derecognised financial assets 130.39 17.01 3 75.93 189.48 125.10 Sincethecompanytransferredtheabovefinancialassetinatransferthatqualifiedforderecognitioninitsentirely,thereforethewholeoftheinterestspread(overtheexpectedlifeofthe asset) is recognized on the day of derecognition itself as interest strip receivable and correspondingly recognised as gain on derecognition of financial asset 53.29.1 DetailofresolutionplanimplementedundertheresolutionframeworkforCovid-19relatedstressasperRBIcirculardatedAugust06,2020(resolutionframework-1.0)andMay05,2021 (resolution framework - 2.0) as at June 30, 2025 as given below: - Exposure to accounts Exposure to accounts classified as Standard Of (A), aggregate debt Of (A) amount paid classified as Standard consequent to that slipped in to NPA Of (A) amount written off by the borrowers consequent to Type of Borrowers implementation of during the three during the three months during the three implementation of resolution plan- months ended June 30, ended June 30, 2025 months ended June resolution plan - Position as at March 2025 30, 2025** Position as at June 30, 31, 2025 (A) * 2025 * Personal Loans # 1.15 0.13 - 0.34 0.68 Corporate Persons - - - - - MSMEs - - - - - Others - - - - - 1 .15 0 .13 - 0 .34 0 .68 90Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) 53.29.2 DetailofresolutionplanimplementedundertheresolutionframeworkforCovid-19relatedstressasperRBIcirculardatedAugust06,2020(resolutionframework-1.0)andMay05,2021 (resolution framework - 2.0) as at June 30, 2024 as given below: - Exposure to accounts Exposure to accounts classified as Standard Of (A), aggregate debt Of (A) amount paid classified as Standard consequent to that slipped in to NPA Of (A) amount written off by the borrowers consequent to Type of Borrowers implementation of during the three during the three months during the three implementation of resolution plan- months ended June 30, ended June 30, 2024 months ended June resolution plan - Position as at March 2024 30, 2024** Position as at June 30, 31, 2024 (A) * 2024* Personal Loans # 13.80 0.77 - 3.85 9.18 Corporate Persons - - - - - MSMEs - - - - - Others - - - - - 1 3.80 0 .77 - 3 .85 9 .18 53.29.3 DetailofresolutionplanimplementedundertheresolutionframeworkforCovid-19relatedstressasperRBIcirculardatedAugust06,2020(resolutionframework-1.0)andMay05,2021 (resolution framework - 2.0) as at March 31, 2025 as given below: - Exposure to accounts Exposure to accounts classified as Standard Of (A) amount paid classified as Standard Of (A), aggregate debt consequent to Of (A) amount written off by the borrowers consequent to that slipped in to NPA Type of Borrowers implementation of during the period ended during the period implementation of during the period resolution plan- March 31, 2025 ended March 31, resolution plan - ended March 31, 2025 Position as at March 2025** Position as at March 31, 2024 (A) * 31, 2025 * Personal Loans # 13.80 0.84 7.08 4.73 1.15 Corporate Persons - - - - - MSMEs - - - - - Others - - - - - 1 3.80 0 .84 7 .08 4 .73 1 .15 53.29.4 DetailofresolutionplanimplementedundertheresolutionframeworkforCovid-19relatedstressasperRBIcirculardatedAugust06,2020(resolutionframework-1.0)andMay05,2021 (resolution framework - 2.0) as at March 31, 2024 as given below: - Exposure to accounts Exposure to accounts classified as Standard Of (A) amount paid classified as Standard Of (A), aggregate debt consequent to Of (A) amount written off by the borrowers consequent to that slipped in to NPA Type of Borrowers implementation of during the period ended during the period implementation of during the period resolution plan- March 31, 2024 ended March 31, resolution plan - ended March 31, 2024 Position as at March 2024** Position as at March 31, 2023 (A) * 31, 2024 * Personal Loans # 96.30 12.90 22.80 46.80 13.80 Corporate Persons - - - - - MSMEs - - - - - Others - - - - - 9 6.30 1 2.90 2 2.80 4 6.80 1 3.80 53.29.5 Exposure to accounts Exposure to accounts classified as Standard Of (A) amount paid classified as Standard Of (A), aggregate debt consequent to Of (A) amount written off by the borrowers consequent to that slipped in to NPA Type of Borrowers implementation of during the period ended during the period implementation of during the period resolution plan- March 31, 2023 ended March 31, resolution plan - ended March 31, 2023 Position as at March 2023** Position as at March 31, 2022 (A) * 31, 2023 * Personal Loans # 182.00 16.50 38.10 127.40 96.30 Corporate Persons - - - - - MSMEs - - - - - Others - - - - - 1 82.00 1 6.50 3 8.10 1 27.40 9 6.30 * Consist of unbilled and overdue principal ** Includes portfolio sold to ARC # Includes restructuring implemented pursuant to OTR 2.0 for personal loans, individual business loans and small business loans. 91Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) 53.30 Changes in liabilities arising from financing activities * Particulars April 01, 2025 Cash flows Exchange difference and Other adjustment June 30, 2025 Debt securities 1 4,181.29 1 48.55 - 1 4,329.84 Borrowings (other than debt securities) 2 1,830.69 8 78.62 120.92 2 2,830.22 Borrowings under securitisation 9 ,251.27 1,674.84 - 1 0,926.12 4 5,263.25 2 ,702.01 1 20.92 4 8,086.18 Particulars April 01, 2024 Cash flows Exchange difference and Other adjustment June 30, 2024 Debt securities 10,223.43 3 ,260.71 - 1 3,484.14 Borrowings (other than debt securities) 16,757.99 1 ,184.21 ( 12.07) 1 7,930.13 Borrowings under securitisation 8,008.48 1,972.23 - 9 ,980.71 3 4,989.90 6 ,417.15 ( 12.07) 4 1,394.98 Particulars April 01, 2024 Cash flows Exchange difference and Other adjustment March 31, 2025 Debt securities 10,223.43 3 ,957.86 - 1 4,181.29 Borrowings (other than debt securities) 16,757.99 5 ,036.49 3 6.21 2 1,830.69 Borrowings under securitisation 8,008.48 1,242.80 - 9 ,251.27 3 4,989.90 1 0,237.14 3 6.21 4 5,263.25 Particulars April 01, 2023 Cash flows Exchange difference and Other adjustment March 31, 2024 Debt securities 8,998.50 1 ,224.93 1 0,223.43 Borrowings (other than debt securities) 8,342.71 8 ,415.29 (0.01) 1 6,757.99 Borrowings under securitisation 5,620.40 2,388.08 8 ,008.48 2 2,961.61 1 2,028.30 ( 0.01) 3 4,989.90 Particulars April 01, 2022 Cash flows Exchange difference Other March 31, 2023 Debt securities 9 ,222.30 ( 223.80) - - 8 ,998.50 Borrowings (other than debt securities) 4 ,896.20 2 ,797.00 ( 69.60) 7 19.11 8 ,342.71 Borrowings under securitisation 1 ,088.90 4 ,531.50 - - 5 ,620.40 1 5,207.40 7 ,104.70 ( 69.60) 7 19.11 2 2,961.61 * Amounts are inclusive of accrued interest. 92Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) 53.31 PursuanttoRegulation54oftheSEBI(ListingObligations&DisclosureRequirement)Regulations,2015wewouldliketostatethatalllistedsecurednon-convertibledebenturesoftheCompany are secured by way of first exclusive charge on hypothecated book debts of the Company up to the extent minimum of 100% of the amount outstanding. 53.32 Intra Group Exposure The company does not have any Intragroup Exposures for the year/ period ended June 30, 2025, June 30, 2024, March 31,2025 , March 31, 2024 and March 31, 2023. 53.33 Unhedged Foreign currency Exposure The Company does not have any year / period end unhedged foreign currency exposures. 53.34 Loans to directors, senior officers and relatives of directors TheCompanyhasnotprovidedanyloanstodirectors,seniorofficersandrelativesofdirectorsduringtheyear/periodended June30,2025,June30,2024,March31,2025,March31,2024and March 31, 2023 except loans to senior officers(KMP) of Rs. 3.60 Millions during the year ended March 31, 2025. 53.35 Details of penalties imposed by RBI and other regulators No penalty was levied during the year/ period ended June 30, 2025, June 30, 2024, March 31,2025 , March 31, 2024 and March 31, 2023. 53.36 Breach of covenant Instances of breach of covenant of loan availed or debt securities issued: As at As at As at As at As at Breach of covenant June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Number of instances* 22 - 20 - - Amount involved 12,396.86 - 9,659.70 - - * As at March 31, 2025 Out of 20 instances waiver has been secured in 5 instances from recquisite lenders. As at June 30, 2025 Out of 22 instances waiver has been secured in 11 instances from requisite lenders. 53.37 Divergence in Asset Classification and Provisioning RBIvideitscircularRBI/2022-23/26DOR.ACC.REC.No.20/21.04.018/2022-23datedApril19,2022hasdirectedNBFCsshallmakesuitabledisclosures,ifeitherorbothofthefollowingconditions are satisfied: (a)theadditionalprovisioningrequirementsassessedbyRBI(orNationalHousingBank(NHB)inthecaseofHousingFinanceCompanies)exceeds5percentofthereportedprofitsbeforetaxand impairment loss on financial instruments for the reference period, or (b) the additional Gross NPAs identified by RBI/NBH exceeds 5 percent of the reported Gross NPAs for the reference period. No inspection conducted by the RBI during the year/ period ended June 30, 2025, June 30, 2024, March 31, 2025 and March 31, 2024. TherehasbeennomaterialdivergenceobservedbytheRBIaspersupervisoryassessmentdonebytheRBIduringfinancialyear2022-23forwhichreportwasissueddatedMarch31,2023in respect of the NBFC's asset classification and provisioning under the extant prudential norms on income recognition asset classification and provisioning (IRACP) which require such disclosures. 53.38 Disclosure on Modified Opinion The auditor have expressed an unmodified opinion for the year/ period ended June 30, 2025, June 30, 2024, March 31, 2025, March 31, 2024, March 31, 2023. 93Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) 53.39 Sectoral exposure As at June 30, 2025 As at June 30, 2024 As at March 31, 2025 As at March 31, 2024 As at March 31, 2023 % of Gross % of Gross % of Gross % of Gross % of Gross Sector Total Total Total Total Total Gross NPAs NPA to Total Gross NPAs NPA to Total Gross NPAs NPA to Total Gross NPAs NPA to Total Gross NPAs NPA to Total Exposure Exposure Exposure Exposure Exposure Exposure Exposure Exposure Exposure Exposure Agriculture and allied - - activities - - - - - - - - - - - - - Industry - - - - - - - - - - - - - - - Services - - - - - - - - - - - - - - - Personal loans - - - - - - - - - - - - - - - Others - MSME 5 3,320.32 2 ,451.40 4.60% 4 4,177.27 1 ,467.39 3.32% 5 1,573.32 2 ,170.40 4.21% 4 1,296.60 1 ,316.30 3.19% 26,215.60 653.90 2.49% Note : The above information is provided as per MIS/reports generated available for internal reporting purpose which include certain estimates and assumptions. The same has been relied upon by the auditors. 53.40 Net Profit or Loss for the period, prior period items and changes in accounting policies: There are no any prior period items and changes in accounting policies. 94Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure V-Restated Notes to the Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) 54 Subsequent Event There are no significant subsequent events that have occurred after the reporting period till the date of approval of these financial statements. 55 Other statutory information (a) The Company do not have any investment property. (b) The Company do not have any benami property, where any proceeding has been initiated or pending against the group for holding any benami property. (c) Since, the Company does not have any immovable property, clause related to title deeds of property not held in the company’s own name is not applicable. (d) TheCompanydoesnothaveanypendingcreationofchargeorsatisfactionofchargewhichareyettobefiledorregisteredwithRegistrarofCompaniesexceptfor27caseswheresatisfactionofcharges could not be filed due to non receipt of NOC from respective bank/financial institution. The Company is in process of obtaining such NOCs. (e) The Company is a NBFC - Middle Layer as classified under Master Direction - Reserve Bank of India (Non-Banking Financial Company - Scale Based Regulations) Directions, 2023. (f) The quarterly statement of current assets submitted to banks/ financial institutions which are provided as security against the borrowings are in agreement with the books of account. (g) The Company has not entered any transactions with companies that were struck off under Section 248 of the Companies Act, 2013 or Section 560 of the Companies Act, 1956. (h) The Company has not traded or invested in crypto currency or virtual Currency during the financial period/year. (i) The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entities (intermediaries) with the understanding that the intermediary shall: (a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Company (ultimate beneficiaries) or (b) provide any guarantee, security or the like to or on behalf of the ultimate beneficiaries TheCompanyhasnotreceivedanyfundfromanyperson(s)orentity(ies),includingforeignentities(fundingparty)withtheunderstanding(whetherrecordedinwritingorotherwise)thattheCompany shall: (a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the funding party (ultimate beneficiaries) or (b) provide any guarantee, security or the like on behalf of the ultimate beneficiaries (j) TheCompanydonothaveanysuchtransactionwhichisnotrecordedinthebooksofaccountsthathasbeensurrenderedordisclosedasincomeduringtheyearinthetaxassessmentsunderthe Income Tax Act, 1961 (such as, search or survey or any other relevant provisions of the Income Tax Act, 1961. (k) Duringtheyear,noschemeofarrangementsinrelationtotheCompanyhasbeenapprovedbythecompetentauthorityintermsofSections230to237oftheCompaniesAct,2013.Accordingly, aforesaid disclosure are not applicable to the Company. (l) TheCompanyhasnotgrantedanyloansoradvancesinthenatureofloanstopromoters,directors,KMPsandtherelatedparties(asdefinedundertheCompaniesAct,2013),eitherseverallyorJointly with any other person that are: (a) Repayable on demand; or (b) without specifying any terms or period of repayment. (m) The Company is not declared wilful defaulter by any bank or financial institution or other lenders. (n) The Company has not invested with number of layers of Companies as prescribed under clause (87) of Section 2 of the Act read with the Companies (Restriction on number of Layers) Rules, 2017 95Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) Corporate Identity Number (CIN): U65921DL1993PLC283660 Annexure VI- Statement of Restatement Adjustments to Audited Financial Statements (All amounts in Indian Rupees millions, unless otherwise stated) 56 SummarizedbelowaretherestatementadjustmentsmadetotheAuditedFinancialStatementsfortheperiodsendedJune30,2025,June30,2024andfortheyearendedMarch31,2025,March31,2024and March 31, 2023 and their impact on equity and the profit/loss. Statement of Adjustments to Audited Financial Statements Reconciliation between audited equity and restated equity As at As at As at As at As at As at Particulars June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 April 01, 2022 Total Equity as per Audited Financial Statements 1 6,915.02 1 2,964.61 16,583.47 12,361.06 7 ,685.04 7,060.14 Material restatement adjustments: Adjustments due to prior period items/other adjustment Tax Expense * - ( 34.59) 5 .21 ( 34.59) ( 140.11) ( 0.88) Total Impact of adjustments - ( 34.59) 5 .21 ( 34.59) ( 140.11) ( 0.88) Total Equity as per Restated Financial Information 1 6,915.02 1 2,930.02 1 6,588.68 12,326.47 7 ,544.93 7,059.26 Reconciliation between audited profit /(loss) after tax and restated profit/ (loss) after tax Three months ended Three months ended Year ended Year ended Year ended Particulars June 30, 2025 June 30, 2024 March 31, 2025 March 31, 2024 March 31, 2023 Profit/(Loss) after tax as per Audited Financial Statements 305.90 609.42 1,712.72 1 ,611.27 537.96 Material restatement adjustments: Adjustments due to prior period items/other adjustment Tax Expense * ( 5.21) - 39.80 105.52 ( 139.23) Total Impact of adjustments ( 5.21) - 39.80 105.52 ( 139.23) Restated Profit/(Loss) after tax as per Restated Financial Information 300.69 609.42 1,752.52 1 ,716.79 398.73 Note to Reconciliation between audited equity & profit /(loss) after tax and restated equity & profit/ (loss) after tax *Tax Expense Thecompanyhadidentifiedshort/excessprovisionforincometaxinaccountingofearlieryeartaxadjustmentsandhadaccountedaspriorperioditemsintheyearinwhichtheshort/excessofprovisionwas identified. Further, the necessary adjustments related to the computation and effect of assessment orders have also been made in the relevant financial year / period. As per our report of even date attached For S S Kothari Mehta & Co. LLP For and on behalf of the Board of Directors of Chartered Accountants Aye Finance Limited ( Formerly known as Aye Finance Private Limited ) FRN: 000756N / N500441 per Vijay Kumar Sanjay Sharma Krishan Gopal Vipul Sharma Govinda Rajulu Chintala Partner Managing Director Chief Financial Officer Company Secretary Chairperson and Independent Director Membership No: 092671 DIN: 03337545 M. No: A27737 DIN: 03622371 New Delhi Gurugram Gurugram Gurugram Hyderabad September 11, 2025 September 11, 2025 September 11, 2025 September 11, 2025 September 11, 2025 96SELECTED STATISTICAL INFORMATION The following information is included for analytical purposes and should be read in conjunction with our “Restated Financial Statements” on page 1 of this Addendum as well as “Our Business” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” on pages 199 and 391, respectively, of the DRHP. Certain ratios for the three months ended June 30, 2024 and June 30, 2025 have been presented on an annualized basis, as indicated in the Draft Red Herring Prospectus and this Addendum. Unless the context otherwise requires, in this section, references to “the Company”, “our Company”, “we”, “us” and “our” refer to Aye Finance Limited on a standalone basis. Certain non-GAAP measures presented in the Draft Red Herring Prospectus and this Addendum are a supplemental measure of our performance and liquidity that are not required by, or presented in accordance with, Ind AS, Indian GAAP, or IFRS. We compute and disclose such non-GAAP financial measures and such other statistical information relating to our operations and financial performance as we consider such information to be useful measures of our business and financial performance, and because such measures are frequently used by securities analysts, investors and others to evaluate the operational performance of financial services businesses, many of which provide such non-GAAP financial measures and other statistical and operational information when reporting their financial results. Such non-GAAP measures are not measures of operating performance or liquidity defined by generally accepted accounting principles. These non-GAAP financial measures and other statistical and other information relating to our operations and financial performance may not be computed on the basis of any standard methodology that is applicable across the industry and therefore may not be comparable to financial measures and statistical information of similar nomenclature that may be computed and presented by banks or financial institutions in India or elsewhere. Other companies may calculate the non-GAAP Measures differently from us, limiting its utility as a comparative measure. See “Certain Conventions, Use of Financial Information and Market Data and Currency of Presentation — Financial Data – Non-Generally Accepted Accounting Principles Financial Measures” on page 16 of the DRHP, and “Risk Factors — 49. We have in this Draft Red Herring Prospectus included certain non-GAAP financial measures and certain other industry measures related to our operations and financial performance. These non-GAAP measures and industry measures may vary from any standard methodology that is applicable across the financial services industry, and therefore may not be comparable with financial or industry related statistical information of similar nomenclature computed and presented by other companies” on page 55 of the DRHP. Return on Equity and Assets The following table sets forth, as of and for the periods/years indicated, our key financial and operational metrics: As of / For the Three As of / For the Financial Year Months Ended June 30, 2025 2024 2025 2024 2023 (₹ million, except percentages and per share data) Profit for the period / year 300.69 609.42 1,752.52 1,716.79 398.73 AUM(1) 57,214.06 47,664.21 55,338.96 44,632.91 27,215.51 Average AUM(2) 56,276.51 46,148.56 49,985.94 35,924.21 22,250.19 On-book AUM(3) 53,320.32 44,177.27 51,573.32 41,296.60 26,056.88 Off-book AUM 4,350.58 3,833.14 4,163.24 3582.90 1,098.65 Total Assets(4) 66,657.80 55,674.20 63,386.28 48,695.93 31,259.99 Average Total Assets(5) 65,022.04 52,185.07 56,041.10 39,977.96 27,210.82 Net Worth(6) 16,915.02 12,930.02 16,588.68 12,326.47 7,544.93 Average Net Worth(7) 16,751.85 12,628.25 14,457.58 9,935.70 7,302.09 Total Borrowings(8) 48,086.18 41,394.98 45,263.25 34,989.90 22,961.61 Average Total Borrowings(9) 44,978.19 37,714.92 40,453.98 28,643.78 16,780.36 Return on Average Total Assets (%)(10) 1.85%* 4.67%* 3.13% 4.29% 1.47% Return on Average Equity (%) (11) 7.18%* 19.30%* 12.12% 17.28% 5.46% Basic Earnings Per Equity Share(12)** 1.57 3.41 9.51 10.62 2.57 Diluted Earnings Per Equity Share(12)** 1.54 3.37 9.34 10.50 2.54 Net Asset Value Per Equity Share(13) 86.80 71.54 88.38 75.41 48.05 *Annualized **Earnings per Equity Share not annualised for the periods ended June 30, 2024 and June 30, 2025. Notes: (1) AUM represents aggregate of future principal outstanding, principal overdue held in our books as on the last day of the relevant period, as well as loan assets which have been transferred by our Company by way of securitization, including assignees’ share of 97loan portfolio transferred under direct assignment and/ or co-lending transactions and includes loan assets which have been purchased by our Company by way of securitization under direct assignment, and are outstanding as on the last day of the relevant period. (2) Average AUM represents the simple average of our AUM as of the last day of the relevant period and our AUM of the last day of the previous period. (3) On-book AUM represents the aggregate of principal outstanding of term loans, interest accrued and other Ind AS adjustments held in our books as of the last day of the relevant period/year. (4) Total Assets represents the total of our financial assets and non-financial assets. (5) Average Total Assets represents the simple average of Total Assets of the previous period/year and ending with the last date of the relevant period/year. (6) Net Worth is Total equity as of the last day of the relevant year / period. (7) Average Net Worth represents the simple average the Net Worth as of the last day of the previous period/year and ending with the last day of the relevant period/year. (8) Total Borrowings represents the aggregate of debt securities and borrowings (other than debt securities) as of the last day of the relevant period/year. (9) Average Total Borrowings is the simple average of our monthly Total Borrowings outstanding as of the last day of the month starting from the last month of the previous period/year and ending with the last month of the relevant period/year. (10) Return on Average Total Assets is calculated as the Profit After Tax for the relevant period/year as a percentage of Average Total Assets in such period/year. (11) Return on Average Equity is calculated as the Profit After Tax for the relevant period/year as a percentage of Average Net Worth in such period/year. (12) Basic and diluted earnings per equity share: Basic and diluted earnings per equity share are computed in accordance with Indian Accounting Standard 33 notified under the Companies (Indian Accounting Standards) Rules of 2015 (as amended). This is computed after giving effect to the subdivision of each equity share of face value of ₹ 10, each fully paid up into 10 equity shares of face value ₹2, each fully paid up, in accordance with Ind AS 33 principles for the three months ended June 30, 2024 and Fiscals 2024 and 2023. (13) Net Asset Value Per Share is Net Worth as per the restated financial statements/ weighted average number of equity shares outstanding during the year/period plus the weighted average number of equity shares that would be issues on conversion of all the dilutive potential equity shares into equity shares. Financial Metrics The following table sets forth, for the periods/years indicated, certain of our financial ratios: As of / For the Three Months As of / For the Year Ended March 31, Ended June 30, 2025 2024 2025 2024 2023 (₹ million, except percentages and ratios/time) AUM(1) 57,214.06 47,664.21 55,338.96 44,632.91 27,215.51 AUM Growth (%) (2) 20.04% 58.09% 23.99% 64.00% 57.45% Securitised assets(3) 12,445.73 10,910.28 10,587.30 8,913.00 5,968.10 Disbursements(4) 10,349.38 10,116.09 42,913.39 39,389.34 23,570.93 Disbursement Growth (%) (5) 2.31% 35.06% 8.95% 67.11% 80.72% Total Revenue from 4,069.63 3,354.40 14,597.32 10,402.18 6,234.25 Operations Other Income 91.68 152.04 452.55 315.32 199.10 Total Income 4,161.31 3,506.44 15,049.87 10,717.50 6,433.35 Finance Costs 1,263.34 1,081.05 4,680.03 3,265.31 1,979.60 Fee expenses (6) 71.91 51.91 243.38 178.40 107.40 Total Net Income(7) 2,897.97 2,425.39 10,369.84 7,452.19 4,453.75 Total Expenses(8) 3,752.42 2,691.72 12,799.75 8,438.94 5,719.39 Cost to income ratio (%) (9) 51.80% 45.83% 50.10% 50.96% 66.03% Operating Expenses(10) 1,501.04 1,111.50 5,195.25 3,797.82 2,940.59 Pre Provision Operating 597.69 1,024.78 3,068.89 3,046.56 922.46 Profit (PPOP) Credit Cost(11) 867.12 485.85 2,888.26 1,314.01 733.50 Credit Cost to Average Total 5.33%* 3.72%* 5.15% 3.29% 2.70% Assets (%)(12) Operating Expenses to 9.23%* 8.52%* 9.27% 9.50% 10.81% Average Total Assets (%) (13) Operating Expenses to Net 51.80% 45.83% 50.10% 50.96% 66.03% Total Income (%) (14) 98As of / For the Three Months As of / For the Year Ended March 31, Ended June 30, 2025 2024 2025 2024 2023 (₹ million, except percentages and ratios/time) Pre Provision Operating 3.68%* 7.85%* 5.48% 7.62% 3.39% Profit (PPOP) to Average Total Assets (%) Impairment Loss Allowance 1.16%* 1.61%* 1.46% 1.92% 0.77% to Average Total Assets (%) (15) Gross NPA(16) 2,451.40 1,467.39 2,170.40 1,316.30 653.90 Gross NPA ratio (%)(17) 4.60% 3.32% 4.21% 3.19% 2.49% NPA Provision(18) 1,656.83 1,093.42 1,466.40 949.60 325.80 Net NPA(19) 794.57 373.97 704.00 366.70 328.10 Net NPA ratio (%)(20) 1.54% 0.87% 1.40% 0.91% 1.28% Provision Coverage Ratio 67.59% 74.50% 67.56% 72.14% 49.82% (%)(21) AUM / Net Worth 3.38 3.69 3.34 3.62 3.61 Average AUM / Average Net 3.36 3.65 3.46 3.62 3.05 Worth Net AUM(22) 54,896.03 46,151.52 53,217.46 43,330.16 26,680.73 Collection Efficiency(%)(23) 89.30% 93.10% 91.75% 93.95% 93.10% Default Rate (%) 38.33% 32.77% 36.17% 31.26% 29.54% *Annualized Notes: (1) AUM represents aggregate of future principal outstanding, principal overdue held in our books as on the last day of the relevant period, as well as loan assets which have been transferred by our Company by way of securitization, including assignees’ share of loan portfolio transferred under direct assignment and/ or co-lending transactions and includes loan assets which have been purchased by our Company by way of securitization under direct assignment, and are outstanding as on the last day of the relevant period. (2) AUM Growth represents percentage growth in AUM for the relevant period/year over AUM of the previous period/year end. (3) Securitised assets represents aggregate of future principal outstanding and overdue principal outstanding for loan assets which have been transferred by us by way of securitisation and outstanding as of the last day of the relevant period/year but excludes the amount of over collateral outstanding as of the last day of the relevant period/year. (4) Disbursements represents the aggregate of all loan amounts extended to our customers in the relevant period/year. (5) Disbursement Growth represents percentage growth in disbursements for the relevant period/year over disbursements of the previous period/year end. (6) Fee expenses refer to fee expenses incurred on borrowings. (7) Total Net Income refers to Total Income less Finance Cost. (8) Total Expenses represents total expenses for the relevant period/year. Total expenses include employee benefits expense, finance cost, impairment on financial instruments, depreciation and amortisation expense, other expenses. (9) Cost to Income Ratio represents Operating Expenses upon total income less finance costs for the relevant period/year. (10) Operating Expenses represents employee benefits expense, depreciation and amortization expense, and Other Expenses for the relevant period/year. (11) Credit Cost represents impairment loss (including loss on derecognition) allowance on financial instruments as per Ind AS 109, write off (net of recovery) for the relevant period. (12) Credit Cost to Average Total Assets represents our Credit Cost for a period to the Average Total Assets for the period. (13) Operating Expenses to Average Total Assets represents the Operating Expenses for the relevant period/year upon Average of Total Assets, represented as a percentage. (14) Operating Expenses to Net Total Income represents the ratio of operating expenses for the relevant period/year divided by Net Total Income for the period/year, expressed as a percentage. Net Total Income represents Total Income less Finance Costs for the relevant period/year. (15) Impairment Loss Allowance to Average Total Assets represents the impairment loss allowance to simple average of Total Assets as of the last day of the previous period/year and ending with the last day of the relevant period/year, represented as a percentage. (16) Gross NPA represents Gross Loan Book pertaining to loans which are required to be classified as NPA as per the Income Recognition, Asset Classification and Provisioning Norms issued and modified by RBI from time to time. (17) Gross NPA represents Gross Loan Book pertaining to loans which are required to be classified as NPA as per the Income Recognition, Asset Classification and Provisioning Norms issued and modified by RBI from time to time. Gross NPA ratio (%) represents the Gross NPA to the Gross Loan Book as of the last day of the relevant period, as per the Income Recognition, Asset Classification and Provisioning Norms issued and modified by RBI from time to time. (18) NPA provision represents total Expected Credit Loss allowance on Stage 3 Loans held in the books as of the last day of the relevant period, as per the Income Recognition, Asset Classification and Provisioning Norms issued and modified by RBI from time to time. (19) Net NPA represents Gross NPA reduced by NPA provisions as of the last day of relevant period. 99(20) Net NPA ratio represents the ratio of our Net NPA to Net Loan portfolio as of last day of the relevant period/year. Net Loan portfolio represents total loan portfolio reduced by impairment allowance, as per the Income Recognition, Asset Classification and Provisioning Norms issued and modified by RBI from time to time. (21) Provision Coverage Ratio represents total provisions held on Gross NPA as of the last day of the period, as a percentage of total Gross NPAs as of the last day of the period. (22) Net AUM represents AUM less Impairment Loss Allowance on AUM as of the last day of the relevant period/year. (23) Collection Efficiency is calculated as the ratio of total collections (including overdue, advance and prepayment collections) to billings restricted to the maximum of one EMI per loan for the relevant year/period. Return Ratios As of / For the Three As of / For the Year Ended Months March 31, Ended June 30, 2025 2024 2025 2024 2023 (in percentages) Revenue from Operations to Average AUM (%) 28.93%* 29.07%* 29.20% 28.96% 28.02% (1) Other Income to Average AUM (%) (2) 0.65%* 1.32%* 0.91% 0.88% 0.89% Total Revenue to Average AUM (%) (3) 29.58%* 30.39%* 30.11% 29.83% 28.91% Total Net Income to Average AUM (%) (4) 20.60%* 21.02%* 20.75% 20.74% 20.02% Operating Expenses to Average AUM (%) (5) 10.67%* 9.63%* 10.39% 10.57% 13.22% Pre Provision Operating Profit (PPOP) 597.69 1,024.78 3,068.89 3,046.56 922.46 Impairment Loss Allowance to Average AUM 1.34%* 1.82%* 1.64% 2.14% 0.94% (%) (6) PBT to Average AUM (%) (7) 2.91%* 7.06%* 4.50% 6.34% 3.21% PAT to Average AUM (%) (8) 2.14%* 5.28%* 3.51% 4.78% 1.79% PAT to Average Net Worth (%) (9) 7.18%* 19.30%* 12.12% 17.28% 5.46% PAT to Total Assets (%) (10) 1.80%* 4.38%* 2.76% 3.53% 1.28% *Annualized Notes: (1) Revenue from Operations to Average AUM represents our total revenue from operations for the period/year to the Average AUM for the period/year. Average AUM represents the simple average of our AUM as of the last day of the relevant period and our AUM of the last day of the previous period. (2) Other Income to Average AUM represents our other income for the relevant period/year to the Average AUM for the period/year. (3) Total Revenue to Average AUM represents sum of Revenue from operations and other income for the period/year to the Average AUM for the period/year. (4) Total Net Income to Average AUM represents the difference between Adjusted Interest Income and Adjusted Finance Cost for the period/year to the Average AUM for the period/year. (5) Operating Expenses to Average AUM represents our operating expenses for the period/year to the Average AUM for the period/year. (6) Impairment Loss Allowance to Average AUM represents our Impairment Loss Allowance for the period/year to the Average AUM for the period/year. (7) PBT to Average AUM represents our Profit Before Tax for the period/year to the Average AUM for the period/year. (8) PAT to Average AUM represents our Profit After Tax for the period/year to the Average AUM for the period/year. (9) PAT to Average Net Worth represents our Profit After Tax for the period/year to the Average Net Worth for the period/year. (10) PAT to Total Assets represents our Profit After Tax for the period/year to Total Assets for the period/year. Yields, Spreads and Margins As of / For the Three Months As of / For the Year Ended Ended June 30, March 31, 2025 2024 2025 2024 2023 (₹ million, except percentages) Total Interest-earning 59,315.94 50,946.81 56,719.89 44,970.40 29,657.01 Assets(1) Average Interest-earning 58,017.92 47,958.61 50,845.14 37,313.71 25,408.11 Assets(2) Average Interest-bearing 44,978.19 37,714.92 40,453.98 28,643.78 16,780.36 liabilities(3) Interest Income 3,607.82 3,117.04 13,259.64 9,486.86 5,664.85 Finance Costs 1,263.34 1,081.05 4,680.03 3,265.31 1,979.60 100As of / For the Three Months As of / For the Year Ended Ended June 30, March 31, 2025 2024 2025 2024 2023 (₹ million, except percentages) Fee expenses 71.91 51.91 243.38 178.40 107.40 Interest on lease liability 12.93 9.87 45.72 22.11 31.60 Interest on current tax - - 4.88 - 0.10 liability Total Income 4,161.31 3,506.44 15,049.87 10,717.50 6,433.35 Net Interest Income(4) 2,344.48 2,035.99 8,579.62 6,221.55 3,685.25 Average yield on AUM 25.64%* 27.02%* 26.53% 26.41% 25.46% (%) (5) Average Cost of 11.24%* 11.47%* 11.57% 11.40% 11.80% Borrowings (%) (6) Spread (%) (7) 14.41% 15.55% 14.96% 15.01% 13.66% Net Interest Margin (%) (8) 14.42%* 15.61%* 15.31% 15.56% 13.54% Average Yield on 27.83%* 28.61%* 28.18% 28.22% 29.35% Disbursements (%) (9) Incremental Cost of 10.40% 11.42% 11.03% 11.27% 11.34% Borrowings (%) (10) Fresh Borrowings during 8,539.93 13,352.74 37,606.00 35,182.00 17,603.74 the period/year *Annualized Notes: (1) Total Interest-earning Assets represents net loans; balances with banks in deposit accounts with original maturity of less than three months; balances with banks in other deposit accounts with an original maturity of more than three months; fixed deposits with banks; and investment in mutual funds, government securities and bonds as of the last day of the previous period/year. (2) Average Interest-earning Assets represent the simple average of total interest-earning assets as of the last day of the previous period/year and ending with the last month of the relevant period/year. (3) Average Interest-bearing Liabilities is the simple average of our monthly total interest-bearing liabilities (which comprises Total Borrowings) outstanding as of the last day of the month starting from the last month of the previous period/year and ending with the last month of the relevant period/year. (4) Net Interest Income represents Interest Income less Finance Cost of the relevant period / year. (5) Average Yield on AUM represents the ratio of interest income for the period/year to the average AUM for the period/year. (6) Average Cost of Borrowings represents Finance Cost for the relevant period/year as a percentage of Average Total Borrowings in such period/year. Average Total Borrowings is the simple average of our monthly Total Borrowings outstanding as of the last day of the month starting from the last month of the previous period/year and ending with the last month of the relevant period/year. (7) Spread represents Average Yield on AUM less Average Cost of Borrowings including securitisation. (8) Net Interest Margin represents our Net Interest Income for the period/year to the Average Total Assets for the period/year, represented as a percentage. Net Interest Income represents Interest Income less Finance Cost of the relevant period / year. (9) Average Yield on Disbursement represents weighted Average Yield on Disbursement, weights being sanctioned amount of each loan disbursed during the relevant period/year. (10) Incremental Cost of Borrowing represents weighted average rate of interest on fresh borrowings in the relevant period/year, weights being availed amount of each borrowing during the relevant period/year. End-use Wise Gross AUM As of June 30, As of March 31, End-use Wise AUM (in 2025 2024 2025 2024 2023 terms of Amount) (₹ million) Hypothecation Loans 46,293.20 42,548.45 46,099.20 40,104.02 25,545.95 Loans Against Property* 10,920.86 5,115.76 9,239.76 4,528.89 1,669.57 Total Gross AUM 57,214.06 47,664.21 55,338.96 44,632.91 27,215.51 *Loans against property include mortgage loans and ‘Saral’ Property Loans. End-use Wise Average AUM As of June 30, As of March 31, End-use Wise AUM (in 2025 2024 2025 2024 2023 terms of Amount) (₹ million) Hypothecation Loans 46,196.20 41,326.24 43,101.61 32,824.98 20,695.68 101As of June 30, As of March 31, End-use Wise AUM (in 2025 2024 2025 2024 2023 terms of Amount) (₹ million) Loans Against Property* 10,080.31 4,822.32 6,884.33 3,099.23 1,554.50 Total Average AUM 56,276.51 46,148.56 49,985.94 35,924.21 22,250.19 *Loans against property include mortgage loans and ‘Saral’ Property Loans. End-use Wise AUM (in terms of Cases) As of June 30, As of March 31, End-use Wise AUM (in 2025 2024 2025 2024 2023 terms of Cases) (Numbers) Hypothecation Loans 533,538 461,972 523,458 438,669 299,219 Loans Against Property* 38,832 21,535 34,302 19,593 11,794 Total 572,370 483,507 557,760 458,262 311,013 *Loans against property include mortgage loans and ‘Saral’ Property Loans. End-use Wise Yields As of June 30, As of March 31, Yields (%) 2025 2024 2025 2024 2023 (%) Hypothecation Loans 28.53% 28.98% 28.83% 28.48% 29.54% Loans against Property* 24.14% 24.71% 24.37% 25.84% 25.62% Total Yield 27.83% 28.61% 28.18% 28.22% 29.35% *Loans against property include mortgage loans and ‘Saral’ Property Loans. Disbursement Metrics The following table sets forth, for the periods/years indicated, our disbursement metrics: As of June 30, As of March 31, 2025 2024 2025 2024 2023 Number of Loans 57,737 66,676 266,283 269,508 180,080 Disbursed(1) Disbursements(2) (₹ 10,006.23 10,042.45 42,045.09 39,304.25 23,569.72 million) Average Ticket Size(3) (₹ 0.17 0.15 0.16 0.15 0.13 million) Notes: (1) Number of Loans Disbursed represents the number of loans disbursed to our borrowers (both new and existing) during the relevant period/year. (2) Amount Disbursed represents the aggregate of all loan amounts extended to our customers during the relevant period/year. (3) Average Ticket Size is computed by dividing the Amount Disbursed (both to new and existing customers) by the Number of Loans Disbursed for the relevant period/year. End-use Wise Disbursement Product Wise As of June 30, As of March 31, Disbursement 2025 2024 2025 2024 2023 (₹ million) Hypothecation Loans 8,758.63 9,232.33 36,754.20 35,633.94 22,416.89 Loans against Property* 1,590.75 883.76 6,159.19 3,755.40 1,154.04 Total 10,349.38 10,116.09 42,913.39 39,389.34 23,570.93 *Loans against property include mortgage loans and ‘Saral’ Property Loans. 102Average Ticket Size on Disbursement (End-use Wise) For the Three Months For the Year ended March 31, ended ATS on Disbursement* June 30, 2025 2024 2025 2024 2023 (₹ million) Hypothecation Loans <=0.1 million 0.09 0.09 0.09 0.09 0.09 >0.1 to 0.3 million 0.17 0.17 0.17 0.17 0.16 >0.3 million 0.34 0.34 0.34 0.35 0.34 Total 0.16 0.14 0.14 0.14 0.13 Total Disbursals <=0.1 million 0.09 0.09 0.09 0.09 0.08 >0.1 to 0.3 million 0.17 0.17 0.17 0.17 0.17 >0.3 million 0.39 0.38 0.39 0.42 0.39 Total 0.17 0.15 0.16 0.15 0.13 *Excluding loans disbursed through SwitchPe. For the Three Months For the Year ended March 31, ended ATS on Disbursement June 30, 2025 2024 2025 2024 2023 (₹ million) Loans against Property* <=0.3 million 0.24 0.22 0.23 0.21 0.19 >0.3 to 0.6 million 0.43 0.43 0.43 0.44 0.45 >0.6 million 0.92 0.82 0.86 0.81 0.83 Total 0.35 0.30 0.33 0.32 0.24 Total Disbursals <=0.3 million 0.15 0.14 0.14 0.14 0.13 >0.3 to 0.6 million 0.37 0.37 0.38 0.40 0.38 >0.6 million 0.92 0.82 0.86 0.81 0.91 Total 0.17 0.15 0.16 0.15 0.13 *Loans against property include mortgage loans and ‘Saral’ Property Loans. End-use Wise Collection Efficiency As of June 30, As of March 31, End-use Wise Collection 2025 2024 2025 2024 2023 Efficiency (%) (Percentage) Hypothecation Loans 89.08% 93.01% 91.64% 93.94% 93.29% Loans against Property* 92.35% 95.08% 93.97% 94.30% 89.03% *Loans against property include mortgage loans and ‘Saral’ Property Loans. Productivity Ratios The following table sets forth, for the periods/years indicated, certain of our productivity ratios: Particulars As of June 30, As of March 31, 2025 2024 2025 2024 2023 Number of branches(1) 526 478 526 478 398 Number of Business Officers 4,598 3,961 4,732 3,745 2,938 Number of Collections Officers 1,606 691 1,243 577 587 Number of on-roll employees(2) 9,544 7,400 9,102 6,825 5,724 Average number of Business 9 8 9 8 7 Officers per branch(3) 103Particulars As of June 30, As of March 31, 2025 2024 2025 2024 2023 Live Accounts (including 572,370 483,507 557,760 458,262 311,013 securitized accounts)(4) AUM per branch(5) (₹ million) 108.77 99.72 105.21 93.37 68.38 AUM per Business Officer(6) (₹ 12.44 12.03 11.69 11.92 9.26 million) AUM per employee(7) (₹ million) 5.99 6.44 6.08 6.54 4.75 Disbursement per branch(8) (₹ 19.68 21.16 81.58 82.40 59.22 million) Disbursement per Business 2.25 2.55 9.07 10.52 8.02 Officer(9) (₹ million) Disbursement per employee(10) (₹ 1.08 1.37 4.71 5.77 4.12 million) Live Accounts per branch(11) 1,088 1,012 1,060 959 781 Live Accounts per Business 124 122 118 122 106 Officer(12) Live Accounts per employee(13) 60 65 61 67 54 Notes: (1) Number of branches represents aggregate number of our branches as of the last day of relevant period/year. (2) Number of on-roll employees represents aggregate number of our employees as of the last day of relevant period/year. (3) Represents the Number of Business Officers as of the last day of the relevant period/year divided by the Number of Branches as of the last day of the relevant period/year. (4) Live Accounts (including securitised accounts) represents the aggregate number of loan accounts outstanding as of the end of the relevant period/year including loan accounts which have been transferred by us by way of securitisation and including loan accounts which have been purchased by our Company by way of securitization under direct assignment and are outstanding as of the last day of the relevant period/year. (5) AUM per branch represents AUM as of last day of the relevant period/year divided by number of branches. (6) AUM per Business Officer represents AUM as of the last day of the relevant period/year divided by number of Business Officers. (7) AUM per employee represents AUM as of the last day of the relevant period/year divided by number of on-roll employees. (8) Disbursement per branch represents disbursements in the relevant period/year divided by average number of branches which is a simple average of the monthly number of branches as of the last day of the month starting from the last month of the previous period/year and ending with the last month of the relevant period/year. (9) Disbursement per Business Officer represents disbursements in the relevant period/year divided by average number of Business Officers, which is a simple average of the monthly number of Business Officers as of the last day of the month starting from the last month of the previous period/year and ending with the last month of the relevant period/year. (10) Disbursement per employee represents disbursements in the relevant period/year divided by average number of on roll employees, which is a simple average of the monthly number of on roll employees as of the last day of the month starting from the last month of the previous period/year and ending with the last month of the relevant period/year. (11) Live Accounts per branch represents live accounts as of the last day of the relevant period/year divided by number of branches. (12) Live Accounts per Business Officer represents live accounts as of the last day of the relevant period/year divided by number of Business Officers. (13) Live Accounts per employee represents live accounts as of the last day of the relevant period/year divided by number of on roll employees. Capital Adequacy(1) As of June 30, As of March 31, Particulars 2025 2024 2025 2024 2023 (₹ million, except percentages and multiples) Tier I Capital 14,227.24 10,960.24 14,295.19 10,587.63 6,563.76 Tier II Capital - - - - - Total Capital 14,227.24 10,960.24 14,295.19 10,587.63 6,563.76 Risk Weighted Assets 40,933.50 33,306.50 40,940.80 32,292.76 21,124.92 Capital Adequacy Ratio (CRAR) CRAR- Tier I Capital 34.76% 32.91% 34.92% 32.79% 31.07% CRAR -Tier II Capital - - - - - Total Borrowings(2) to Total Equity 2.84 3.20 2.73 2.84 3.04 Ratio(3) Notes: (1) Computed in accordance with relevant RBI guidelines. (2) Total Borrowings represents the aggregate of debt securities and borrowings (other than debt securities) as of the last day of the relevant period/year. 104(3) Total Borrowings to Total Equity ratio represents the aggregate of debt securities and borrowings (other than debt securities) as of the last day of the relevant period/year to Total Equity as of the last day of the relevant period/year. Sources of Capital As of / For the Three As of / For the Year Ended March 31, Months Particulars ended June 30, 2025 2024 2025 2024 2023 Number of entities borrowed from - Private sector banks 21 18 21 17 9 - Public sector banks 2 1 2 - - - NBFCs 24 22 22 21 17 - Mutual Funds - - - - - - Insurance Companies - - - - - - Others 33 37 35 37 30 [Remainder of this page intentionally left blank] 105Particulars As of / For the Three Months As of / For the Year Ended March 31, ended June 30, 2025 2024 2025 2024 2023 Amount (₹ Percentage Amount (₹ Percentage Amount (₹ Percentage Amount (₹ Percentage Amount (₹ Percentage million) of Total million) of Total million) of Total million) of Total million) of Total Borrowings Borrowings Borrowings Borrowings Borrowings (%) (%) (%) (%) (%) Total Borrowings(1) 48,086.18 100.00% 41,394.98 100.00% 45,263.25 100.00% 34,989.90 100.00% 22,961.61 100.00% -Private sector banks 14,518.06 30.19% 9,586.81 23.16% 12,248.51 27.06% 9,887.79 28.26% 4,791.71 20.87% - Public sector banks 704.02 1.46% 500.00 1.21% 783.22 1.73% - - - - NBFCs 16,397.22 34.10% 15,784.60 38.13% 16,986.40 37.53% 13,252.19 37.87% 8,624.19 37.56% - Development 9,432.79 19.62% 9,269.85 22.39% 8,291.15 18.32% 6,499.81 18.58% 6,349.21 27.65% Finance Institutions - Others 6,907.27 14.36% 6,124.98 14.80% 6,877.42 15.19% 5,139.16 14.69% 2,892.00 12.59% -Accrued 353.98 0.74% 414.13 1.00% 333.38 0.74% 394.54 1.13% 410.40 1.79% Interest - EIR (227.16) (0.47)% (285.39) (0.69)% (256.83) (0.57)% (183.59) (0.52)% (105.90) (0.46)% Average Cost of NA 11.24% NA 11.47% NA 11.57% NA 11.40% NA 11.80% Borrowings (excluding assignments) Total Equity 16,915.02 - 12,930.02 - 16,588.68 - 12,326.47 - 7,544.93 - Total Borrowings to 2.84 - 3.20 - 2.73 - 2.84 - 3.04 - Total Equity Ratio(2) Undrawn borrowing 658.90 1.37% 868.90 2.10% 388.90 0.86% 378.90 1.08% 98.00 0.43% facilities(3) Notes: (1) Total Borrowings represents the aggregate of debt securities, borrowings (other than debt securities) as of the last day of the relevant period/year. (2) Total Borrowings to Total Equity Ratio represents the aggregate of debt securities, borrowings (other than debt securities) as of the last day of the relevant period/year to Total Equity as of the last day of the relevant period/year. (3) Undrawn borrowing facilities represent the aggregate of borrowings that have been sanctioned by lenders but yet to be drawn by us and includes undrawn amounts from sanctioned cash credit facilities but does not include securitisation or assignment transactions. [Remainder of this page intentionally left blank] 106Borrowings by Rate Method As of June 30, As of March 31, 2025 2024 2025 2024 2023 Types of Amount Percentage Amount Percentage Amount Percentage Amount Percentage Amount Percentage Borrowings (₹ of (₹ of (₹ of (₹ of (₹ of million) Total (%) million) Total (%) million) Total (%) million) Total (%) million) Total (%) Fixed 32,726.69 68.06% 30,748.33 74.28% 29,321.60 64.78% 25,229.50 72.11% 14,192.60 61.81% Interest Rate Floating 15,359.49 31.94% 10,646.65 25.72% 15,941.65 35.22% 9,760.40 27.89% 8,769.00 38.19% Interest Rate Types of Interest bearing Financial Liabilities (Total Borrowings including Securitisation) Types of As of June 30, As of March 31, Interest 2025 2024 2025 2024 2023 bearing Amount Percentage Amount Percentage Amount Percentage Amount Percentage Amount Percentage Financial (₹ of (₹ of (₹ of (₹ of (₹ of Liabilities million) Total (%) million) Total (%) million) Total (%) million) Total (%) million) Total (%) (Total Borrowings including Securitisation) Fixed Interest 32,726.69 68.06% 30,748.33 74.28% 29,321.60 64.78% 25,229.50 72.11% 14,192.60 61.81% Rate Financial Liabilities (Total Borrowings including Securitisation) Floating 15,359.49 31.94% 10,646.65 25.72% 15,941.65 35.22% 9,760.40 27.89% 8,769.00 38.19% Interest Rate Financial Liabilities (Total Borrowings including Securitisation) Total Interest 48,086.18 100.00% 41,394.98 100.00% 45,263.25 100.00% 34,989.90 100.00% 22,961.60 100.00% bearing Financial Liabilities (Total Borrowings including Securitisation) Average Cost of Borrowings and Tenure Particulars As of June 30, As of March 31, 2025 2024 2025 2024 2023 (in months, except percentages) Average Tenure of 34.40 34.14 35.15 28.89 31.38 Borrowings (including securitisation)(1) Average Tenure of 24.61 26.41 25.85 22.06 20.17 Borrowings (including securitisation)(2) 107Particulars As of June 30, As of March 31, 2025 2024 2025 2024 2023 (in months, except percentages) Average Cost of Borrowings 11.24% 11.47% 11.57% 11.40% 11.80% (%)(3) Notes: (1) Weighted based on origination tenure. (2) Weighted based on residual tenure. (3) Average Cost of Borrowings represents Finance Cost for the relevant period/year as a percentage of Average Total Assets in such period/year. Average Total Borrowings is the simple average of our monthly Total Borrowings outstanding as of the last day of the month starting from the last month of the previous period/year and ending with the last month of the relevant period/year. [Remainder of this page intentionally left blank] 108Asset Liability Management The following table sets forth the maturity pattern of certain items of assets and liabilities as at the end of the relevant period or year: 1 day to 30/31 Over 1 month Over 2 Over 3 Over 6 Over 1 to 3 Over 3 to 5 Over 5 Total (1 month) to 2 months months to 3 months to 6 months to 1 years years years Particulars months months year (₹ million) Liabilities Borrowings As of June 2,193.68 2,283.10 2,109.77 5,963.03 8,941.90 24,319.80 2,274.89 - 48,086.18 30, 2025 As of June 2,049.76 1,883.03 1,952.19 5,389.35 9,184.18 16,737.35 3,333.98 865.14 41,394.98 30, 2024 As of 1,800.50 1,689.20 1,963.20 5,606.80 11,033.00 20,515.30 2,655.25 - 45,263.25 March 31, 2025 As of 1,934.00 1,415.30 2,570.90 4,932.70 9,863.10 11,841.50 1,837.80 594.60 34,989.90 March 31, 2024 As of 809.57 1,054.72 1,849.41 3,866.18 6,828.58 7,496.65 1,056.49 0.00 22,961.61 March 31, 2023 Assets Advances As of June 2,942.18 1,970.74 1,996.69 6,127.26 11,645.58 21,205.24 3,686.28 1,428.32 51,002.29 30, 2025 As of June 2,507.89 1,675.20 1,699.83 5,158.02 10,033.85 19,078.13 2,013.99 497.67 42,664.58 30, 2024 As of 2,840.30 1,915.70 1,943.40 5,961.90 11,631.00 20,814.40 3,163.40 1,181.71 49,451.81 March 31, 2025 As of 2,257.17 1,557.98 1,580.97 4,843.86 9,524.55 17,985.93 1,805.29 438.45 39,994.20 March 31, 2024 As of 1,584.53 1,080.02 1,145.89 3,523.64 6,978.90 11,411.70 302.39 62.15 26,089.22 March 31, 2023 Investments As of June 5,545.71 692.84 120.75 418.82 1026.27 455.95 0.00 0.00 8,260.34 30, 2025 1091 day to 30/31 Over 1 month Over 2 Over 3 Over 6 Over 1 to 3 Over 3 to 5 Over 5 Total (1 month) to 2 months months to 3 months to 6 months to 1 years years years Particulars months months year (₹ million) As of June 6,498.83 178.42 131.90 501.21 468.06 464.77 0.00 0.00 8,243.19 30, 2024 As of March 31, 5,288.30 176.80 102.60 346.80 1,004.90 298.36 - - 7,217.76 2025 As of 3,089.52 178.74 128.94 512.94 598.54 430.49 - - 4,939.17 March 31, 2024 As of 2,888.40 33.73 50.15 350.40 438.99 648.93 0.00 0.00 4,410.60 March 31, 2023 [Remainder of this page intentionally left blank] 110Asset Quality Provisioning and Write-offs Asset Category (loan As of / For the Three Months As of / For the year ended 31 March book) Ended June 30 2025 2024 2025 2024 2023 (₹ million) AUM 57,214.06 47,664.21 55,338.96 44,632.91 27,215.51 Gross NPAs(1) 2,451.40 1,467.39 2,170.40 1,316.30 653.90 NPA Provisions(2) 1,656.83 1,093.42 1,466.40 949.60 325.80 Net NPAs(3) 794.57 373.97 704.00 366.70 328.10 Bad Debts Write-off(4) 677.63 275.79 2,064.19 546.01 525.00 Notes: (1) Gross NPA represents Gross Loan Book pertaining to loans which are required to be classified as NPA as per the Income Recognition, Asset Classification and Provisioning norms issued and modified by RBI from time to time. (2) NPA provisions represents total Expected Credit Loss allowance and contingent provisions on Stage 3 Loans held in the books as of the last day of the relevant period. (3) Net NPA represents Gross NPA reduced by Impairment Loss Allowance (i.e., Expected Credit Loss Allowance or ECLs) made against these loans as of the last day of relevant reporting period. (4) Bad Debts Write-off (net of recovery) includes loss on settlement. Stage Wise AUM, Impairment Loss Allowance and AUM (Net) As of June 30, As of March 31, 2025 2024 2025 2024 2023 (₹ million) Gross Carrying Amount – AUM 1. Stage 1(1) 53,365.57 45,511.31 51,875.81 42,799.61 26,280.29 2. Stage 2(2) 983.73 567.02 940.84 427.97 262.59 3. Stage 3(3) 2,864.76 1,585.88 2,522.32 1,405.33 672.64 4. Total AUM (Gross) 57,214.06 47,664.21 55,338.96 44,632.91 27,215.51 Impairment Loss Allowance 5. Stage 1 252.90 193.10 260.60 181.35 173.60 6. Stage 2 408.30 226.17 394.50 171.80 35.00 7. Stage 3 1,401.83 837.91 1,211.40 749.50 326.20 8. Management Overlay 255.00 255.51 255.00 200.10 0.00 9. Total Impairment 2,318.03 1,512.69 2,121.50 1,302.75 534.80 Loss Allowance AUM (Net) 10. Stage 1 (net) (10=1-5) 53,112.67 45,318.21 51,615.21 42,618.26 26,106.69 11. Stage 2 (net) (11=2-6) 575.43 340.85 546.34 256.17 227.59 12. Stage 3 (net) (12=3-7) 1,207.93 492.46 1,055.92 455.73 346.44 13. Total AUM (Net) 54,896.03 46,151.52 53,217.46 43,330.16 26,680.72 (14=4-(8+9)) For further details, see “Risk Factors – 3. If we are unable to control the level of Gross Non-Performing Assets / Stage 3 Assets / Net NPAs in our portfolio effectively, or if we are unable to maintain adequate provisioning coverage, or if there is any change in regulatorily mandated provisioning requirements, our financial condition and results of operations may be adversely” And “Management’s Discussion and Analysis of Financial Condition and Results of Operations –Factors Affecting our Results of Operations and Financial Condition – Asset quality, NPAs and Provisioning” on pages 32 and 392, respectively, of DRHP. Notes: (1) AUM where credit risk has not increased significantly since initial recognition and represents loans which are not overdue or overdue for not more than thirty days. (2) AUM where credit risk has increased significantly since initial recognition and represents loans which are overdue for more than 30 days but overdue for not more than 90 days. (3) AUM which is credit impaired and represents loans which are overdue for more than 90 days. 111Stage Wise Loans – Hypothecation Loans As of June 30, As of March 31, 2025 2024 2025 2024 2023 (₹ million) Stage 1 42,833.66 40,535.15 42,962.71 38,380.05 24,739.91 Stage 2 894.07 521.70 870.26 406.82 228.29 Stage 3(1) 2,565.47 1,491.60 2,266.23 1,317.15 577.42 Total AUM – Hypothecation Loans 46,293.20 42,548.45 46,099.20 40,104.02 25,545.62 Hypothecation Loans (%) Stage 1(2) 92.53% 95.27% 93.20% 95.70% 96.85% Stage 2(3) 1.93% 1.23% 1.89% 1.01% 0.89% Stage 3(4) 5.54% 3.51% 4.92% 3.28% 2.26% Total 100.00% 100.00% 100.00% 100.00% 100.00% Notes: (1) Stage 3 represents Gross NPA of Hypothecation Loans as of the last day of the relevant period. (2) Stage 1% represents Stage 1 of Hypothecation Loans to AUM of Hypothecation Loans of our Company as of the last day of relevant period. (3) Stage 2% represents Stage 2 of Hypothecation Loans to AUM of Hypothecation Loans of our Company as of the last day of relevant period. (4) Stage 3% represents Stage 3 / Hypothecation Loans to AUM of Hypothecation Loans of our Company as of the last day of relevant period. Stage Wise Loans – Loans against Property As of June 30, As of March 31, 2025 2024 2025 2024 2023 (₹ million) Stage 1 10,531.91 4,976.15 8,913.10 4,419.56 1,540.05 Stage 2 89.66 45.32 70.57 21.16 34.30 Stage 3(1) 299.29 94.28 256.09 88.18 95.22 Total AUM – Loans against 10,920.86 5,115.76 9,239.76 4,528.90 1,669.57 Property Loans against Property (%) Stage 1(2) 96.44% 97.27% 96.46% 97.59% 92.24% Stage 2(3) 0.82% 0.89% 0.76% 0.47% 2.05% Stage 3(4) 2.74% 1.84% 2.77% 1.95% 5.70% Total 100.00% 100.00% 100.00% 100.00% 100.00% Notes: (1) Stage 3 represents Gross NPA of Loans against Property as of the last day of the relevant period. (2) Stage 1% represents Stage 1 of Loans against Property to AUM of Loans against Property of our Company as of the last day of relevant period. (3) Stage 2% represents Stage 2 of Loans against Property to AUM of Loans against Property of our Company as of the last day of relevant period. (4) Stage 3% represents Stage 3 / of Loans against Property to AUM of Loans against Property of our Company as of the last day of relevant period. Product-wise Gross NPA (AUM) As of June 30, As of March 31, 2025 2024 2025 2024 2023 (₹ million) Hypothecation Loans 2,565.47 1,491.60 2,266.23 1,317.15 577.42 Loans against Property* 299.29 94.28 256.09 88.18 95.22 Total Gross NPA 2,864.76 1,585.88 2,522.32 1,405.33 672.64 *Loans against property include mortgage loans and ‘Saral’ Property Loans. 112Product-wise Net NPA (%) As of June 30, As of March 31, 2025 2024 2025 2024 2023 (₹ million) Hypothecation Loans 84.91% 87.90% 85.08% 87.78% 85.18% Loans against Property* 15.09% 12.10% 14.92% 12.22% 14.82% Total Net NPA (%) 100.00% 100.00% 100.00% 100.00% 100.00% *Loans against property include mortgage loans and ‘Saral’ Property Loans. End-use Wise Number of Cases of Stage 3 AUM As of June 30, As of March 31, End-use Wise Number of 2025 2024 2025 2024 2023 Cases of Stage 3 AUM (Numbers) Hypothecation Loans 38,721 25,180 34,732 21,376 10,277 Loans against Property* 2,314 1,358 2,170 1,228 1,032 Total 41,035 26,538 36,902 22,604 11,309 *Loans against property include mortgage loans and ‘Saral’ Property Loans. End-use Wise % Stage 3 AUM As of June 30, As of March 31, End-use Wise % Stage 3 2025 2024 2025 2024 2023 AUM (Percentage) Hypothecation Loans 5.54% 3.51% 4.92% 3.28% 2.26% Loans against Property* 2.74% 1.84% 2.77% 1.95% 5.70% Total 5.01% 3.33% 4.56% 3.15% 2.47% *Loans against property include mortgage loans and ‘Saral’ Property Loans. Collections & DPD metrics As of June June March March March Metric 30, 2025 30, 2024 31, 2025 31, 31, 2024 2023 (₹ million, except for percentages) 0+ DPD to AUM(1) 7.96% 5.40% 7.10% 4.73% 4.83% 30+ DPD to AUM(2) 6.64% 4.46% 6.19% 4.06% 3.35% 60+ DPD to AUM(3) 5.71% 3.78% 5.19% 3.45% 2.65% Stage 3 AUM to AUM 5.01% 3.33% 4.56% 3.15% 2.47% Impairment loss allowance on Stage 3 AUM 1,656.83 1,093.42 1,466.40 949.60 325.80 Stage 3 AUM (net) to AUM 2.11% 1.03% 1.91% 1.02% 1.27% Incremental restructured portfolio(4) 16.45 5.52% 29.55 9.18 11.92 Total restructured portfolio 57.42 51.28 47.59 62.22 194.11 Total restructured portfolio as a % of AUM 0.10% 0.11% 0.09% 0.14% 0.71% Notes: (1) Represents AUM which is not overdue as a percentage of the total AUM as of the last day of the relevant period/year. (2) Represents AUM which is overdue by more than 30 days as a percentage of the total AUM as of the last day of the relevant period/year. (3) Represents AUM which are overdue by more than 60 days as a percentage of the total AUM as of the last day of the relevant period/year. (4) Represents the sum of AUM of additional cases that have opted for restructuring in the relevant period/year. Industries Covered by State/Territory As of June 30, As of March 31, State/Territory 2025 2024 2025 2024 2023 Andhra Pradesh 5 5 5 5 5 Bihar 6 5 6 5 5 113As of June 30, As of March 31, State/Territory 2025 2024 2025 2024 2023 Chandigarh 5 5 5 5 5 Chhattisgarh 5 5 5 5 5 Delhi 6 5 5 5 5 Gujarat 6 6 6 6 5 Haryana 6 5 6 5 5 Himachal Pradesh 5 5 6 4 4 Jammu 5 5 5 5 5 Jharkhand 6 6 6 5 5 Karnataka 6 5 6 5 5 Madhya Pradesh 6 6 6 6 5 Maharashtra 6 5 6 5 5 Odisha 6 5 6 5 4 Punjab 6 5 6 5 5 Rajasthan 6 6 6 6 5 Tamil Nadu 6 5 6 5 5 Telangana 5 5 5 5 5 Uttar Pradesh 6 6 6 5 5 Uttarakhand 6 5 6 5 5 West Bengal 6 5 6 5 5 Branches by State/Territory As of June 30, As of March 31, State/Territory 2025 2024 2025 2024 2023 Andhra Pradesh 19 19 19 19 19 Bihar 44 42 44 42 37 Chandigarh 1 1 1 1 1 Chhattisgarh 10 8 10 8 5 Delhi 2 2 2 2 2 Gujarat 20 20 20 20 19 Haryana 23 23 23 23 21 Himachal Pradesh 6 5 6 5 5 Jammu 1 1 1 1 1 Jharkhand 20 21 20 21 21 Karnataka 41 36 41 36 30 Madhya Pradesh 39 30 39 30 26 Maharashtra 42 41 42 41 31 Odisha 25 18 25 18 8 Punjab 21 21 21 21 20 Rajasthan 57 54 57 54 49 Tamil Nadu 40 36 40 36 26 Telangana 14 14 14 14 14 Uttar Pradesh 70 60 70 60 47 Uttarakhand 8 7 8 7 7 West Bengal 23 19 23 19 9 Total 526 478 526 478 398 State-wise Branch Vintage As of June 30, 2025 Less than or 4-5 years More than 5 Simple Average State/Territory equal to years Vintage* 4 years (Number of months) Andhra Pradesh 11 1 7 57 Bihar 26 7 11 47 Chandigarh 0 0 1 74 114As of June 30, 2025 Less than or 4-5 years More than 5 Simple Average State/Territory equal to years Vintage* 4 years (Number of months) Chhattisgarh 7 1 2 32 Delhi 0 0 2 135 Gujarat 7 2 11 58 Haryana 10 2 11 68 Himachal Pradesh 5 0 1 40 Jammu 1 0 0 45 Jharkhand 9 5 6 54 Karnataka 24 2 15 52 Madhya Pradesh 23 4 12 46 Maharashtra 29 1 12 41 Odisha 25 0 0 21 Punjab 9 2 10 69 Rajasthan 33 4 20 56 Tamil Nadu 22 1 17 52 Telangana 6 1 7 61 Uttar Pradesh 43 5 22 50 Uttarakhand 3 0 5 64 West Bengal 23 0 0 26 Total 316 38 172 50 *Represents the simple average of branch vintage in each of the states State-wise Vintage-wise Average AUM per Branch As of June 30, 2025 Less than or equal to 4 4-5 years More than 5 years State/Territory years (₹ million) Andhra Pradesh 70.04 112.02 89.24 Bihar 164.18 252.15 238.42 Chandigarh NA NA 103.97 Chhattisgarh 31.67 96.30 90.49 Delhi NA NA 104.51 Gujarat 93.83 187.75 91.09 Haryana 81.28 144.09 172.96 Himachal Pradesh 43.64 NA 87.37 Jammu 80.27 NA NA Jharkhand 144.57 227.61 159.30 Karnataka 43.20 77.40 107.33 Madhya Pradesh 62.34 145.32 191.83 Maharashtra 69.70 205.82 124.04 Odisha 56.42 NA NA Punjab 76.01 91.05 150.52 Rajasthan 81.69 127.99 179.23 Tamil Nadu 54.78 61.57 121.80 Telangana 49.29 52.69 87.01 Uttar Pradesh 63.04 180.94 212.61 Uttarakhand 24.32 NA 152.12 West Bengal 87.50 NA NA Total 75.69 169.35 152.89 115AUM by State/Territory State/Territory As of June 30, As of March 31, 2025 2024 2025 2024 2023 Amount Percentage Amount Percentage Amount Percentage Amount Percentage Amount Percentage (₹ of (₹ of (₹ of (₹ of (₹ of million) Total (%) million) Total (%) million) Total (%) million) Total (%) million) Total (%) Andhra Pradesh 1,507.16 2.63% 1,640.69 3.44% 1,547.11 2.80% 1,558.69 3.49% 823.75 3.03% Bihar 8,712.09 15.23% 6,653.55 13.96% 8,287.66 14.98% 6,009.43 13.46% 3,348.39 12.30% Chandigarh 103.97 0.18% 110.58 0.23% 105.63 0.19% 106.09 0.24% 84.25 0.31% Chhattisgarh 498.99 0.87% 366.38 0.77% 467.99 0.85% 333.40 0.75% 206.82 0.76% Delhi 234.42 0.41% 249.79 0.52% 220.25 0.40% 251.01 0.56% 155.11 0.57% Gujarat 2,041.00 3.57% 1,810.97 3.80% 2,010.99 3.63% 1,738.18 3.89% 1,234.44 4.54% Haryana 3,096.54 5.41% 2,833.36 5.94% 2,974.84 5.38% 2,779.50 6.23% 1,975.64 7.26% Himachal 310.97 0.54% 321.53 0.67% 339.03 0.61% 272.93 0.61% 139.67 0.51% Pradesh Jammu 80.27 0.14% 93.42 0.20% 81.93 0.15% 94.74 0.21% 73.83 0.27% Jharkhand 3,402.18 5.95% 3,025.18 6.35% 3,338.31 6.03% 2,824.42 6.33% 1,590.43 5.84% Karnataka 2,801.49 4.90% 2,340.60 4.91% 2,771.41 5.01% 2,157.06 4.83% 1,182.01 4.34% Madhya 4,406.90 7.70% 3,417.90 7.17% 4,303.57 7.78% 3,211.41 7.20% 2,135.81 7.85% Pradesh Maharashtra 3,715.60 6.49% 2,986.89 6.27% 3,601.54 6.51% 2,778.20 6.22% 1,527.16 5.61% Odisha 1,410.38 2.47% 891.21 1.87% 1,312.13 2.37% 666.87 1.49% 196.55 0.72% Punjab 2,371.48 4.14% 2,491.90 5.23% 2,419.40 4.37% 2,447.44 5.48% 1,817.19 6.68% Rajasthan 6,912.99 12.08% 5,757.30 12.08% 6,657.37 12.03% 5,540.90 12.41% 3,480.16 12.79% Tamil Nadu 3,337.45 5.83% 2,915.53 6.12% 3,317.23 5.99% 2,695.38 6.04% 1,518.95 5.58% Telangana 957.47 1.67% 1,006.73 2.11% 980.07 1.77% 958.85 2.15% 602.43 2.21% Uttar Pradesh 8,461.64 14.79% 6,624.10 13.90% 7,883.74 14.25% 6,294.12 14.10% 4,061.90 14.92% Uttarakhand 838.63 1.47% 792.25 1.66% 802.10 1.45% 824.55 1.85% 555.58 2.04% West Bengal 2,012.42 3.52% 1,334.34 2.80% 1,916.66 3.46% 1,089.73 2.44% 505.45 1.86% Total 57,214.06 100.00% 47,664.21 100.00% 55,338.96 100.00% 44,632.91 100.00% 27,215.51 100.00% Collections by State/Territory State/Territory As of June 30, As of March 31, 2025 2024 2025 2024 2023 Amount Percentage Amount Percentage Amount Percentage Amount Percentage Amount Percentage (₹ of (₹ of (₹ of (₹ of (₹ of million) Total (%) million) Total (%) million) Total (%) million) Total (%) million) Total (%) Andhra Pradesh 292.12 2.94% 289.32 3.48% 1,205.72 3.33% 829.67 3.18% 398.05 2.48% Bihar 1,531.99 15.44% 1,154.47 13.87% 5,261.39 14.54% 3,381.62 12.97% 1,586.12 9.89% Chandigarh 21.97 0.22% 22.74 0.27% 90.51 0.25% 82.36 0.32% 62.65 0.39% Chhattisgarh 89.96 0.91% 65.22 0.78% 294.75 0.81% 201.87 0.77% 120.16 0.75% Delhi 37.47 0.38% 41.33 0.50% 164.13 0.45% 134.43 0.52% 128.43 0.80% Gujarat 320.10 3.23% 304.74 3.66% 1,253.31 3.46% 1,065.43 4.09% 640.48 3.99% Haryana 549.11 5.54% 528.96 6.36% 2,157.94 5.96% 1,825.53 7.00% 1,401.36 8.73% Himachal 60.14 0.61% 57.19 0.69% 248.25 0.69% 149.83 0.57% 68.29 0.43% Pradesh Jammu 16.94 0.17% 15.86 0.19% 67.76 0.19% 59.99 0.23% 28.17 0.18% Jharkhand 616.72 6.22% 526.30 6.32% 2,279.73 6.30% 1,561.83 5.99% 745.34 4.65% Karnataka 508.06 5.12% 410.39 4.93% 1,853.87 5.12% 1,192.49 4.57% 827.67 5.16% Madhya 638.05 6.43% 550.91 6.62% 2,318.19 6.41% 1,851.95 7.10% 1,290.23 8.04% Pradesh Maharashtra 603.17 6.08% 495.97 5.96% 2,187.56 6.05% 1,480.77 5.68% 744.32 4.64% Odisha 234.31 2.36% 117.11 1.41% 666.14 1.84% 229.86 0.88% 8.60 0.05% Punjab 493.27 4.97% 478.69 5.75% 1,963.85 5.43% 1,701.43 6.53% 1,178.66 7.35% Rajasthan 1,136.30 11.46% 1,008.77 12.12% 4,213.70 11.65% 3,265.53 12.53% 2,227.10 13.88% Tamil Nadu 632.47 6.38% 509.27 6.12% 2,287.16 6.32% 1,495.05 5.74% 918.91 5.73% Telangana 189.93 1.91% 179.67 2.16% 764.18 2.11% 563.06 2.16% 323.07 2.01% 116State/Territory As of June 30, As of March 31, 2025 2024 2025 2024 2023 Amount Percentage Amount Percentage Amount Percentage Amount Percentage Amount Percentage (₹ of (₹ of (₹ of (₹ of (₹ of million) Total (%) million) Total (%) million) Total (%) million) Total (%) million) Total (%) Uttar Pradesh 1,442.16 14.54% 1,207.58 14.51% 5,230.61 14.46% 3,911.92 15.01% 2,777.59 17.31% Uttarakhand 159.67 1.61% 154.49 1.86% 616.16 1.70% 541.80 2.08% 407.34 2.54% West Bengal 345.67 3.48% 202.06 2.43% 1,053.01 2.91% 542.48 2.08% 162.37 1.01% Grand Total 9,919.56 100.00% 8,321.05 100.00% 36,177.93 100.00% 26,068.88 100.00% 16,044.93 100.00% AUM by Ticket Size Ticket As of June 30, As of March 31, Size 2025 2024 2025 2024 2023 Amount Percentage Amount Percentage Amount Percentage Amount Percentage Amount Percentage (₹ of (₹ of (₹ of (₹ of (₹ of million) Total (%) million) Total (%) million) Total (%) million) Total (%) million) Total (%) Up to ₹ 9,536.42 16.67% 10,252.62 21.51% 10,128.17 18.30% 22.64% 7,952.25 27.90% 0.10 10,103.80 million ₹ 0.10 35,831.31 62.63% 32,579.36 68.35% 35,608.49 64.35% 30,632.51 68.63% 18,484.76 67.92% million to ₹ 0.30 million ₹ 0.30 10,491.87 18.34% 4,498.62 9.44% 8,756.01 15.82% 3,600.06 8.07% 1,091.01 4.01% million to ₹ 0.60 million More 1,354.47 2.37% 333.61 0.70% 846.29 1.53% 296.54 0.66% 47.50 0.17% than ₹ 0.60 million Total 57,214.06 100.00% 47,664.21 100.00% 55,338.96 100.00% 44,632.91 100.00% 27,215.51 100.00% AUM by Tenor As of June 30, As of March 31, 2025 2024 2025 2024 2023 Tenor Amount Percentage Amount Percentage Amount Percentage Amount Percentage Amount Percentage (₹ of (₹ of (₹ of (₹ of (₹ of million) Total (%) million) Total (%) million) Total (%) million) Total (%) million) Total (%) Up to 15,265.55 26.73% 19,007.75 39.90% 16,541.42 29.94% 19,624.38 43.98% 17,740.51 65.19% 24 months 25 28,160.47 49.31% 22,231.23 46.66% 27,062.63 48.98% 19,601.86 43.93% 7,704.62 28.31% months to 36 months 37 4,622.42 8.09% 2,708.70 5.69% 4,177.01 7.56% 2,221.76 4.98% 901.06 3.31% months to 48 months More 9,060.98 15.87% 3,693.60 7.75% 7,468.75 13.52% 3,171.68 7.11% 869.01 3.19% than 48 months Total 57,109.42 100.00% 47,641.29 100.00% 55,249.81 100.00% 44,619.68 100.00% 27,215.19 100.00% *Excluding SwitchPe as SwitchPe is a revolving product 117AUM by Industry As of June 30, As of March 31, 2025 2024 2025 2024 2023 Industry Amount Percentage Amount Percentage Amount Percentage Amount Percentage Amount Percentage (₹ of (₹ of (₹ of (₹ of (₹ of million) Total (%) million) Total (%) million) Total (%) million) Total (%) million) Total (%) Livestock 16,094.53 28.13% 15,258.26 32.01% 16,051.47 29.01% 14,775.63 33.10% 10,098.25 37.10% rearing Manufacturing 7,448.50 13.02% 5,318.86 11.16% 6,940.35 12.54% 4,868.64 10.91% 2,720.62 10.00% and others Service and 5,575.62 9.75% 4,240.11 8.90% 5,257.50 9.50% 3,876.03 8.68% 2,148.40 7.89% job work Trading 28,095.41 49.11% 22,846.98 47.93% 27,089.64 48.95% 21,112.61 47.30% 12,248.25 45.00% Total 57,214.06 100.00% 47,664.21 100.00% 55,338.96 100.00% 44,632.91 100.00% 27,215.51 100.00% Function-wise Split of Employees Function As of June 30, As of March 31, 2025 2024 2025 2024 2023 Administration 13 7 11 7 6 Audit and vigilance 58 48 58 38 39 Business excellence - 1 - 1 - Collection 959 393 602 295 319 Corporate impact 3 3 3 2 2 Credit 1,353 1,141 1,351 1,082 902 Customer service 307 278 282 232 152 Data science & AI 4 5 5 5 4 Digital business 140 67 105 51 10 Distribution – Hypothecation loans and ‘Saral’ 5,167 4,524 5,263 4,637 3,820 Property Loans Distribution – ML centralized 200 26 59 - - Distribution – ML decentralized 791 420 860 - - Finance & legal 36 29 36 28 26 General management 5 4 5 2 2 HR 41 32 36 30 25 IT 43 35 44 31 27 Operations 371 368 362 367 373 Product 14 9 10 7 5 Risk 3 3 3 3 4 Strategy 7 7 7 7 8 ML Upsell 29 - - - - Total 9,544 7,400 9,102 6,825 5,724 118BASIS FOR OFFER PRICE I. Qualitative Factors For details of some of the qualitative factors forming the basis for computing the Offer Price, see “Basis for Offer Price- Qualitative Factors” on page 113 of the DRHP. II. Quantitative Factors Certain information presented below relating to our Company is based on the Restated Financial Statements. For details, see “Restated Financial Statements” on page 1 of this Addendum. Some of the quantitative factors which may form the basis for calculating the Offer Price are as follows: 1. Basic and diluted earnings per Equity Share (“EPS”) for continuing operations: As derived from the Restated Financial Statements: For the period ended as at Basic EPS (₹) Diluted EPS (₹) Weight March 31, 2025 9.51 9.34 3 March 31, 2024 10.62 10.50 2 March 31, 2023 2.57 2.54 1 Weighted Average 8.72 8.59 - Three months ended June 30, 2025* 1.57 1.54 - Three months ended June 30, 2024* 3.41 3.37 - * Not annualized. Notes: 1. Basic EPS amounts are calculated by dividing the profit for the year/period attributable to equity Shareholders of the Company by the weighted average number of equity shares outstanding during the year/period (adjusted for sub-division of face value of equity shares from ₹ 10 to ₹ 2 as listed below). 2. Diluted EPS amounts are calculated by dividing the profit attributable to equity Shareholders by the weighted average number of equity shares outstanding during the year/period plus the weighted average number of equity shares that would be issued on conversion of all the dilutive potential equity shares into equity shares (as adjusted for sub-division of face value of equity shares from ₹ 10 to ₹ 2 as listed below). 3. Weighted average = Aggregate of year-wise weighted EPS divided by the aggregate of weights i.e. (EPS x weight) for each year /Total of weights 4. EPS has been calculated in accordance with the Ind AS 33 – “Earnings per share” notified under the Companies (Indian Accounting Standards) Rules of 2015 (as amended). 5. Pursuant to a resolution passed by our Board on October 16, 2024, and a resolution passed by our Shareholders on October 17, 2024, the face value of equity shares of our Company was sub-divided from face value of ₹10 each to face value of ₹ 2 each. Sub-division of equity shares is retrospectively considered for the computation of basic EPS and diluted EPS in accordance with Ind AS 33 for previous years/periods ended June 30,2024, March 31,2024, March 31,2023 presented. 2. Industry Peer Group P/E ratio Based on the peer group information (excluding our Company) given below in this section, the highest, lowest and industry average P/E ratio are set forth below: Face value per Particulars Name of the Company P/E equity share (₹) Highest SBFC Finance Limited 33.91 10 Lowest Five-Star Business Finance Limited 14.58 1 Average 24.25 Notes: 1. The industry high and low has been considered from the industry peer set provided later in this section. The industry composite has been calculated as the arithmetic average P/E of the industry peer set disclosed in this section. 2. P/E ratio has been computed based on the closing market price of the equity shares of the peers identified above, as on September 5, 2025, on www.nseindia.com, divided by the Diluted EPS as on March 31, 2025. 3. All the financial information for listed industry peers mentioned above is sourced from the audited financial statements of the relevant companies for Fiscal 2025, as available on the websites of the Stock Exchanges. 3. Return on Net Worth (“RoNW”) As derived from the Restated Financial Statements: For the period ended as at RoNW (%) Weight March 31, 2025 12.12% 3 119For the period ended as at RoNW (%) Weight March 31, 2024 17.28% 2 March 31, 2023 5.46% 1 Weighted Average 12.73% - Three months ended June 30, 2025* 1.79% - Three months ended June 30, 2024* 4.83% - * Not annualized. Notes: 1. Net worth represents total equity as of the last day of the relevant year / period. 2. The Weighted Average Return on Net Worth is a product of Return on Net Worth and respective assigned weight, dividing the resultant by total aggregate weight. 3. Return on Net Worth = Net profit/(loss) after tax for the years/ periods attributable to the owners of the Company divided by Average Net Worth of the Company for the respective year / period. 4. Net Asset Value per Equity Share NAV per Equity Share NAV per Equity Share NAV per Equity Share (Diluted)(₹) (Basic)( ₹) As on June 30, 2025* 86.80 88.22 As on March 31, 2025 88.38 90.00 After the Offer - At the Floor Price [●] [●] - At the Cap Price [●] [●] At Offer Price [●] [●] * Not annualized. Notes: 1. Basic Net Asset Value per Equity Share = Net worth as per the Restated Financial Statements / Weighted Average number of Equity Shares as at the end of year/period. 2. Diluted Net Asset Value per Equity Share = Net worth as per the Restated Financial Statements / weighted average number of equity shares outstanding during the year/period plus the weighted average number of equity shares that would be issued on conversion of all the dilutive potential equity shares into equity shares. 3. Net worth represents Total equity as of the last day of the relevant year / period. 4. Pursuant to a resolution passed by our Board on October 16, 2024, and a resolution passed by our Shareholders on October 17, 2024, the face value of equity shares of our Company was sub-divided from face value of ₹10 each to face value of ₹ 2 each. Sub- division of equity shares is retrospectively considered for the computation of NAV for for previous years/periods ended June 30,2024, March 31,2024, March 31,2023 presented. III. Key Performance Indicators The table below sets forth the details of the key performance indicators (“KPIs”) that our Company considers have a bearing for arriving at the basis for Offer Price. These KPIs have been used historically by our Company to understand and analyse the business performance, which in result, help us in analysing the growth of various vertical segments. The Bidders can refer to the below-mentioned KPIs, being a combination of financial and operational key financial and operational metrics, to make an assessment of our Company’s performance in various business verticals and make an informed decision. The KPIs disclosed below have been approved by a resolution of our Audit Committee dated September 11, 2025 and the Audit Committee has confirmed that the KPIs pertaining to our Company that have been disclosed to investors at any point of time during the three years period prior to the date of this Addendum have been disclosed in this section and have been subject to verification and certification by the Statutory Auditors, pursuant to certificate dated September 11, 2025 which will included as part of the “Material Contracts and Documents for Inspection in the Red Herring Prospectus. For details of our key operating, financial and other operating metrics disclosed elsewhere in the Draft Red Herring Prospectus, see “Our Business” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations”, on pages 201 and 391, respectively, of the DRHP and “Selected Statistical Information” on page 97 of this Addendum. 120A list of our KPIs for the three months ended June 30, 2025 and June 30, 2024 and the Financial Years ended March 31, 2025, March 31, 2024 and March 31, 2023 is set out below: For the three months Fiscal Data points Classification Unit ended June 30, 2025 June 30, 2024 2025 2024 2023 Number of Branches(1) Geography Number 526 478 526 478 398 Number of States/UTs(2) Geography Number 21 21 21 21 21 Assets Under Management (AUM)(3) ₹ in 57,214.06 47,664.21 55,338.96 44,632.91 27,215.51 Portfolio/AUM overview million AUM Growth YoY(4) Portfolio/AUM overview % 20.04 58.09 23.99 64.00 57.45 AUM Mix by Product (hypothecation loan-secured, hypothecation % loan-unsecured, ‘Saral’ Property Loans, mortgage loan)(5) Hypothecation secured % 42.26 49.34 43.62 51.94 63.60 Hypothecation unsecured Portfolio/AUM overview % 38.65 39.93 39.68 37.91 30.26 ‘Saral’ Property Loans % 1.85 2.46 1.98 2.65 4.27 Mortgage loans % 17.24 8.28 14.72 7.50 1.86 AUM per Branch(6) ₹ in 108.77 99.72 105.21 93.37 68.38 Portfolio/AUM overview million Retention Rate (7) Portfolio/AUM overview % 44.93 48.38 49.54 49.59 41.18 Disbursements Total(8) ₹ in 10,349.38 10,116.09 42,913.39 39,389.34 23,570.93 Disbursement overview million Disbursements in Repeat loans(9) ₹ in 5,382.56 4,513.10 19,076.76 14,897.96 6,048.80 Disbursement overview million Disbursement Growth YoY(10) Disbursement overview % 2.31 35.06 8.95 67.11 80.72 Disbursement Mix (hypothecation loan-secured, hypothecation loan- % unsecured, ‘Saral’ Property Loans, mortgage loan)(11) Hypothecation secured % 44.09 45.62 43.56 50.32 66.27 Hypothecation unsecured % 40.54 45.64 42.08 40.15 28.84 ‘Saral’ Property Loans % 1.17 1.52 1.29 1.80 2.92 Mortgage loans Disbursement overview % 14.20 7.22 13.06 7.73 1.97 Disbursement per LA(12) Disbursement overview Nos 10.94 16.20 62.89 82.23 78.83 Average ticket size on Disbursement (Overall)(13) ₹ in 0.17 0.15 0.16 0.15 0.13 Disbursement overview million Average ticket size on Disbursement (Repeat loans)(14) ₹ in 0.21 0.19 0.20 0.19 0.17 Disbursement overview million Total Interest Income(15) ₹ in 3,607.82 3,117.04 13,259.64 9,486.86 5,664.85 Profit and loss million Total Income(16) Profit and loss ₹ in 4,161.31 3,506.44 15,049.87 10,717.50 6,433.35 million Finance Cost (17) Profit and loss ₹ in 1,263.34 1,081.05 4,680.03 3,265.31 1,979.60 million 121For the three months Fiscal Data points Classification Unit ended June 30, 2025 June 30, 2024 2025 2024 2023 Net Interest Income (NII) (18) Profit and loss ₹ in 2,344.48 2,035.99 8,579.61 6,221.55 3,685.25 million Operating Expense (19) Profit and loss ₹ in 1,501.04 1,111.50 5,195.25 3,797.82 2,940.59 million Profit After Tax(20) Profit and loss ₹ in 300.69 609.42 1,752.52 1,716.79 398.73 million Return On Equity (RoE)(21) Ratios % 7.18 19.30 12.12 17.28 5.46 Yield on Net Advances (22) Ratios % 28.21 29.71 29.10 28.43 26.19 Yield on Gross Advances(23) Ratios % 27.02 28.74 28.02 27.65 25.54 Net Interest Margin (NIM)(24) Ratios % 14.42 15.61 15.31 15.56 13.54 Cost of Borrowings / Average cost of borrowing / funds(25) Ratios % 11.24 11.47 11.57 11.40 11.80 Average cost of borrowing / funds (on Total Assets)(26) Ratios % 7.77 8.29 8.35 8.17 7.28 Return on average Total Assets (RoTA)(27) Ratios % 1.85 4.67 3.13 4.29 1.47 Credit cost to Average Total Assets(28) Ratios % 5.33 3.72 5.15 3.29 2.70 Operating Expense to Average Total Assets(29) Ratios % 9.23 8.52 9.27 9.50 10.81 Capital to risk weighted assets ratio (CRAR)(30) Ratios % 34.76 32.91 34.92 32.79 31.07 Cost to Income Ratio(31) Ratios % 51.80 45.83 50.10 50.96 66.03 Gross NPA(32) Ratios % 4.60 3.32 4.21 3.19 2.49 Net NPA(33) Ratios % 1.54 0.87 1.40 0.91 1.28 PCR (Provision Coverage Ratio)(34) Ratios % 67.59 74.50 67.56 72.14 49.82 Debt to Equity (D/E) ratio (Leverage)(35) Ratios Times 2.84 3.20 2.73 2.84 3.04 Net Worth(36) ₹ in 16,915.02 12,930.02 16,588.68 12,326.47 7,544.93 Balance Sheet million Borrowings/Total Debt(37) ₹ in 48,086.18 41,394.98 45,263.25 34,989.90 22,961.61 Balance Sheet million Average disbursal per Branch(38) ₹ in 19.68 21.16 81.58 82.40 59.22 Productivity million Collection efficiency (%)(39) Productivity % 89.30 93.10 91.75 93.95 93.10 Number of Active customers(40) Productivity Number 568,290 481,059 554,699 454,586 305,524 Credit Rating(41) Letter Ratings grade i. NCD*^ [IND] A [IND] A- [IND] A [IND] A- [IND] A- Stable Positive Stable Positive Stable ii. Bank loans*^ [IND] A [IND] A- [IND] A [IND] A- [IND] A- Stable Positive Stable Positive Stable iii. Commercial paper*^ [IND] A1 [IND] A1 [IND] A1 [IND] A1 [IND] A2+ Stable 122For the three months Fiscal Data points Classification Unit ended June 30, 2025 June 30, 2024 2025 2024 2023 iv. Principal protected market-linked debenture (PP-MLD)* ^ IND PP-MLD IND PP-MLD IND PP- IND PP- IND PP- A Stable A - Positive MLD A MLD A – MLD A – Stable Positive Stable v. NCD** N.A N.A N.A N.A. [ICRA] BBB+ Positive vi. Long Term Bank Facility*** [ICRA] A N.A [ICRA] A N.A. N.A. Stable Stable *Pursuant to the rating letter dated July 19,2024 by India Ratings and Research Limited. As per the ratings provided, (i) long-term issuer rating was revised from ‘IND A-/ Positive Outlook’ to ‘IND A/Stable Outlook’ , and (ii) Affirms Commercial paper at ‘IND A1’. **Ratings provided by ICRA were withdrawn w.e.f. May 19, 2023. ***ICRA Rating letter dated December 6, 2024. ^Pursuant to the rating letter dated July 8, 2025 by India Ratings and Research Limited Affirms Aye Finance’s Existing and Rates Additional NCDs of ₹ 4,550.00 million and Bank Loans of ₹ 3,000.00 million at ‘IND A’/Stable; Withdraws Rating on PP-MLDs of ₹ 50.00 million and Non-convertible debenture reduced to ₹ 14,699.81 million from ₹ 19,084.50 million. (1) Number of branches represents the aggregate number of branches of our Company as of the last day of relevant period/year. (2) Number of states and union territories represents the total number of states and union territories where Company has presence as at the last day of the relevant fiscal year /period. (3) AUM represents aggregate of future principal outstanding, principal overdue held in our books as on the last day of the relevant period, as well as loan assets which have been transferred by our Company by way of securitization, including assignees’ share of loan portfolio transferred under direct assignment and/ or co-lending transactions and includes loan assets which have been purchased by our Company by way of securitization under direct assignment and are outstanding as on the last day of the relevant period. (4) AUM Growth represents percentage growth in AUM for the relevant period/year over AUM of the previous period/year end. (5) AUM represents aggregate of future principal outstanding, principal overdue held in our books as on the last day of the relevant period, as well as loan assets which have been transferred by our Company by way of securitization, including assignees’ share of loan portfolio transferred under direct assignment and/ or co-lending transactions and includes loan assets which have been purchased by our Company by way of securitization under direct assignment and are outstanding as on the last day of the relevant period. (6) AUM per branch is AUM as at the last day of the relevant fiscal year / period divided by the aggregate number of our branches as at the last day of relevant fiscal year / period (7) Retention rate is number of customers who took repeat loans during their lifetime plus number of attrited customers who took repeat loan in the relevant fiscal year / period divided by number of customers with EMI end date in relevant fiscal year / period. (8) Disbursements represent the aggregate of all loan amounts extended to our customers in the relevant period/year. (9) Repeat loans represent the subsequent loan taken by a borrower after taking the first loan with us. (10) Disbursement growth represents percentage growth in disbursements for the relevant period/year over disbursements of the previous period/year end. (11) Disbursement mix is the composition of Total Disbursements in hypothecation secured loans, hypothecation unsecured loans, ‘Saral’ Property Loans and mortgage loans (12) Disbursement per Loan Advisor(LA) is the total disbursements for hypothecation loan (HL) and ‘Saral’ Property Loans (SPL) for the relevant fiscal year / period divided by the average loan advisors for hypothecation loan (HL) and ‘Saral’ Property Loans (SPL) for the relevant fiscal year / period. (13) Average ticket size (ATS) on Disbursement (Overall) is computed by dividing the amount disbursed (both to new and existing customers) by the number of loans disbursed for the relevant period/year. (14) Average ticket size (ATS) on Disbursement (Repeat loans) is computed by dividing the amount disbursed to repeated customers (both to new and existing customers) by the number of repeat loans disbursed for the relevant period/year. (15) Total Interest Income represents the interest income earned for the relevant fiscal year / period from loans and advances, deposits with banks and investments. (16) Total Income represents the sum of total revenue from operations and other income for the relevant fiscal year / period. (17) Finance Cost represents the sum of total cost of borrowings for the relevant fiscal year / period. (18) Net Interest Income (NII) represents Interest income less Finance Costs, for the relevant period/year. (19) Operating Expense represents employee benefits expense, depreciation and amortization expense, and other expenses for the relevant period/year. (20) Profit After Tax refers to the profits after deducting the tax expenses for the relevant fiscal year / period. (21) Return On Equity (RoE) is calculated as the profit after tax for the relevant year as a percentage of average Net Worth in such year/period. 123(22) Yield on average Net Advances represents the ratio of interest income for the period/year to the average net advance for the period/year. (23) Yield on average Gross Advances represents the ratio of interest income for the period/year to the average gross advance for the period/year. (24) Net Interest Margin (NIM) represents our Net Interest Income for the period/year to the average total assets for the period/year, represented as a percentage. And Net Interest Income represents Interest Income less Finance Cost of the relevant period / year. (25) Cost of Borrowings (Average cost of borrowing) represents finance cost for the relevant period/year as a percentage of Average Total Borrowings in such period/year, and, Average Total Borrowings is the simple average of our monthly Total Borrowings outstanding as of the last day of the month starting from the last month of the previous period/year and ending with the last month of the relevant period/year. (26) Average cost of borrowing / funds (on Total Assets) represents Finance Cost for the relevant period/year as a percentage of average total assets in such period/year. (27) Return on average Total Assets (RoTA) is calculated as the Profit After Tax for the relevant period / year as a percentage of average Total Assets in such period / year. (28) Credit cost to Average Total Asset represents our credit cost for a period / year to the average total assets for the period / year. (29) Operating Expense to Average total assets represents the Operating Expenses for the relevant period / year upon average of total assets for the relevant period / year. (30) Capital to risk weighted assets ratio (CRAR) is computed by dividing our tier I and tier II capital by risk weighted assets (computed in accordance with the relevant RBI guidelines) (31) Cost to Income Ratio represents Operating Expenses upon total income less Finance Costs for the relevant period/year. (32) Gross NPA represents gross loan book pertaining to loans which are required to be classified as NPA as per the income recognition, asset classification and provisioning norms issued and modified by RBI from time to time. Gross NPA ratio (%) represents the Gross NPA to the gross loan book as of the last day of the relevant period, as per the income recognition, asset classification and provisioning norms issued and modified by RBI from time to time (33) Net NPA represents the ratio of our Net NPA to net loan portfolio as of last day of the relevant period/year. Net loan portfolio represents total loan portfolio reduced by impairment allowance, as per the income recognition, asset classification and provisioning norms issued and modified by RBI from time to time. (34) PCR (Provision Coverage Ratio) represents total provisions held on Gross NPA as of the last day of the year, as a percentage of total Gross NPAs as of the last day of the period/year (35) Debt to Equity (D/E) ratio (Leverage) represents debt securities, borrowings other than debt securities / Net-Worth. as of the last day of the relevant period/year. (36) Net Worth means total equity as of the last day of the relevant year / period. (37) Borrowings (total debt) represents the aggregate of debt securities and borrowings other than debt securities as of the last day of the relevant period/year. (38) Average disbursal per Branch represents total disbursements of the relevant fiscal year / period divided by the aggregate number of our branches of relevant fiscal period / year. (39) Collection Efficiency represents amount of EMI received, restricted to max of 1 EMI per loan divided by EMI demand/due for the relevant fiscal year /period. (40) Loans Outstanding (no of active customers) represents the total number of customers active as at the last day of relevant fiscal year / period. (41) Credit Rating represents the credit rating issued by a/multiple registered rating agency/ies with the SEBI for long term and short term borrowing facilities of our Company as at the last day of relevant fiscal year / period. For the definitions and reconciliation of Non-GAAP measures, please see “Definitions and Abbreviations” and “Other Financial Information” on pages 1 and 381, respectively, of the DRHP. Our Company shall continue to disclose the KPIs disclosed hereinabove in this section on a periodic basis, at least once in a year (or for any lesser period as determined by the Board of our Company), for a duration of one year after the date of listing of the Equity Shares, or until the utilization of Offer Proceeds, whichever is later, on the Stock Exchanges pursuant to the Offer, or for such other period as may be required under the SEBI ICDR Regulations. 124IV. Comparison with listed industry peers The following peer group has been determined on the basis of companies listed on Indian stock exchanges, whose business profile is comparable to our businesses in terms of our size and our business model: Closing Net asset value as at March Revenue from Earnings per share for Price/earnin price as on 31, 2025 (₹ per equity Return on net Face value (₹ operations for Financial Year 2025 (₹) gs ratio for Market Name of the September share) worth for the per equity Financial the capitalisation company 5, 2025 Financial Year share) Year 2025 (in Financial (in ₹ billion) (₹per equity Basic Diluted Basic Diluted 2025 (%) ₹ million) Year 2025# share) Company 2 NA 14,597.32 9.51 9.34 90.00 88.38 NA 12.12 NA Listed peers SBFC Finance 10 106.82 13,061.57 3.21 3.15 29.61 29.10 33.91 11.57 116.01 Limited Five-Star 1 Business 532.35 28,478.40 36.61 36.50 215.22 214.58 14.58 18.65 156.74 Finance Limited Source: All the financial information for our Company mentioned above is based on the Restated Financial Statements for the year ended March 31, 2025/ signed financial statement. For SBFC Finance Limited and Five- Star Business Finance Limited, financial information is taken from consolidated financial statements and financial statements respectively of the annual report for Fiscal 2025. #To be included in respect of our Company in the Prospectus based on the Offer Price. Notes: (1)Basic/diluted earnings per share refers to the basic/diluted earnings per share sourced from the financial statements of the respective peer group companies for the financial year ended. (2)Basic Net Asset Value per Equity Share = Net worth as per the Restated Financial Statement / Weighted Average number of Equity Shares as at the end of year. (3) Diluted Net Asset Value per Equity Share = Net worth as per the Restated Financial Statements / weighted average number of equity shares outstanding during the year/period plus the weighted average number of equity shares that would be issued on conversion of all the dilutive potential equity shares into equity shares. (4)Return on net worth is computed as net profit after tax attributable to shareholders divided by average of opening and closing net worth of the year. Net worth represents total equity as of the last day of the relevant year / period. (5)Price/earning ratio for the peer group has been computed based on the closing market price of equity shares on September 5, 2025, on www.nseindia.com, divided by the diluted earnings per share for financial year ended March 31, 2025. (6)Market capitalization is the product of the basic shares outstanding as on March 31, 2025 multiplied by the closing price as on September 5, 2025. V. Comparison of our KPIs with listed industry peers for the Financial Years included in the Restated Financial Statements As of, and for the three months period ended, June 30, 2025 Aye Finance Limited SBFC Finance Five Star Business Data p oints Unit (Formerly known as Aye Limited Finance Limited Finance Private Limited) Number of Branches Number 526 215 767 Number of States/UTs Number 21 18 11 Assets Under Management (AUM) ₹ in million 57,214.06 93,510.00 124,578.00 125Aye Finance Limited SBFC Finance Five Star Business Data p oints Unit (Formerly known as Aye Limited Finance Limited Finance Private Limited) AUM Growth YoY % 20.04 30.47 20.44 AUM Mix by Product (hypothecation loan-secured, hypothecation loan-unsecured, ‘Saral’ Property Loans, mortgage loan) Hypothecation secured % 42.26 NA NA Hypothecation unsecured % 38.65 NA NA ‘Saral’ Property Loans % 1.85 NA NA Mortgage loans % 17.24 NA NA AUM per Branch ₹ in million 108.77 434.93 162.42 Retention Rate % 44.93 NA NA Disbursements Total ₹ in million 10,349.38 8,090.00* 12,901.00 Disbursements in Repeat loans ₹ in million 5,382.56 NA NA Disbursement Growth YoY % 2.31 51.50 (2.13) Disbursement Mix (hypothecation loan-secured, hypothecation loan- unsecured, ‘Saral’ Property Loans, mortgage loan) Hypothecation secured % 44.09 NA NA Hypothecation unsecured % 40.54 NA NA ‘Saral’ Property Loans % 1.17 NA NA Mortgage loans % 14.20 NA NA Disbursement per LA Nos 10.94 NA NA Average ticket size on Disbursement (Overall) ₹ in million 0.17 NA NA Average ticket size on Disbursement (repeat loans) ₹ in million 0.21 NA NA Total Interest Income ₹ in million 3,607.82 3,548.97 7,646.84 Total Income ₹ in million 4,161.31 3,885.42 7,911.87 Finance Cost / Interest Expense ₹ in million 1,263.34 1,250.60 1,872.92 Net Interest Income (NII) ₹ in million 2,344.48 2,298.37 5,773.92 Operating Expense ₹ in million 1,501.04 1,029.41 2,011.58 Profit After Tax ₹ in million 300.69 1,008.92 2,663.12 Return On Equity (RoE) % 7.18 12.44 16.54 Yield on Net Advances % 28.21 NA NA Yield on Gross Advances % 27.02 NA NA Net Interest Margin (NIM) % 14.42 10.36 15.85 Cost of Borrowings / Average cost of borrowing / funds# % 11.24 9.11 9.49 Average cost of borrowing / funds (on Total Assets) % 7.77 5.64 5.14 Return on average Total Assets (RoTA) % 1.85 4.55 7.31 Credit cost to Average Total Assets % 5.33 1.12 1.31 Operating Expense to Average Total Assets % 9.23 4.64 5.52 Capital to risk weighted assets ratio (CRAR) % 34.76 34.28 49.15 Cost to Income Ratio % 51.80 39.07 33.31 126Aye Finance Limited SBFC Finance Five Star Business Data p oints Unit (Formerly known as Aye Limited Finance Limited Finance Private Limited) Gross NPA % 4.60 2.78 2.46 Net NPA % 1.54 1.57 1.25 PCR (Provision Coverage Ratio) % 67.59 44.38 50.02 Debt to Equity (D/E) ratio (Leverage) times 2.84 1.73 1.20 Net Worth ₹ in million 16,915.02 32,992.83 65,742.26 Borrowings/Total debt ₹ in million 48,086.18 57,230.00 78,718.00 Average disbursal per branch ₹ in million 19.68 37.63 16.82 Collection efficiency (%) (%) 89.30 NA NA Loans Outstanding/No of Active customers Nos 5,68,290 NA NA Credit Rating Letter Grade NCD**^ [IND] A Stable NA NA Bank loans**^ [IND] A Stable NA NA Commercial paper**^ [IND] A1 NA NA Principal protected market-linked debenture (PP-MLD)** ^ IND PP-MLD A NA NA Stable Long Term Bank Facility*** [ICRA] A Stable NA NA *This includes disbursement made to secured MSMEs only. **Pursuant to the rating letter dated July 19,2024 by India Ratings and Research Limited, (i) long-term issuer rating was revised from ‘IND A-/ Positive Outlook’ to ‘IND A/Stable Outlook’, and (ii) ‘IND A1’ rating for commercial papers was affirmed. ^Pursuant to the rating letter dated July 8, 2025 by India Ratings and Research Limited Affirms Aye Finance’s Existing and Rates Additional NCDs of ₹ 4,550.00 million and Bank Loans of ₹ 3,000.00 million at ‘IND A’/Stable; Withdraws Rating on PP-MLDs of ₹ 50.00 million and Non-convertible debenture reduced to ₹ 14,699.81 million from ₹ 19,084.50 million. *** ICRA Rating letter dated December 06, 2024. #For peers Average Total Borrowing is simple average of borrowing at the end of the period / year and at the end of the last period / year As of, and for the three -months period ended, June 30, 2024 Aye Finance Limited Five Star Business Data p oints Unit (Formerly known as Aye SBFC Finance Limited Finance Limited Finance Private Limited Number of Branches Number 478 186 547 Number of States/UTs Number 21 18 10 Assets Under Management (AUM) ₹ in million 47,664.21 71,670.00 103,439.00 AUM Growth YoY % 58.09 34.54 36.40 AUM Mix by Product (hypothecation loan-secured, hypothecation loan- unsecured, ‘Saral’ Property Loans, mortgage loan) Hypothecation secured % 49.34 NA NA Hypothecation unsecured % 39.93 NA NA ‘Saral’ Property Loans % 2.46 NA NA Mortgage loans % 8.28 NA NA 127Aye Finance Limited Five Star Business Data p oints Unit (Formerly known as Aye SBFC Finance Limited Finance Limited Finance Private Limited AUM per Branch ₹ in million 99.72 385.32 189.10 Retention Rate % 48.38 NA NA Disbursements Total ₹ in million 10,116.09 5,340.00* 13,182.00 Disbursements in Repeat loans ₹ in million 4,513.10 NA NA Disbursement Growth YoY % 35.06 (18.47) 16.47 Disbursement Mix (hypothecation loan-secured, hypothecation loan- unsecured, ‘Saral’ Property Loans, mortgage loan) Hypothecation secured % 45.62 NA NA Hypothecation unsecured % 45.64 NA NA ‘Saral’ Property Loans % 1.52 NA NA Mortgage loans % 7.22 NA NA Disbursement per LA Nos 16.20 NA NA Average ticket size on Disbursement (Overall) ₹ in million 0.15 NA NA Average ticket size on Disbursement (Repeat loans) ₹ in million 0.19 NA NA Total Interest Income ₹ in million 3,117.04 2,711.19 6,410.84 Total Income ₹ in million 3,506.44 2,975.07 6,693.81 Finance Cost / Interest Expense ₹ in million 1,081.05 947.63 1,581.90 Net Interest Income (NII) ₹ in million 2,035.99 1,763.56 4,828.94 Operating Expense ₹ in million 1,111.50 828.10 1,564.73 Profit After Tax ₹ in million 609.42 787.15 2,515.70 Return On Equity (RoE) % 19.30 11.16 18.90 Yield on Net Advances % 29.71 NA NA Yield on Gross Advances % 28.74 NA NA Net Interest Margin (NIM) % 15.61 10.01 16.04 Cost of Borrowings / Average cost of borrowing / funds# % 11.47 9.41 9.71 Average cost of borrowing / funds (on Total Assets) % 8.29 5.38 5.25 Return on average Total Assets (RoTA) % 4.67 4.47 8.36 Credit cost to Average Total Assets % 3.72 0.84 0.62 Operating Expense to Average Total Assets % 8.52 4.70 5.20 Capital to risk weighted assets ratio (CRAR) % 32.91 40.84 48.43 Cost to Income Ratio % 45.83 40.84 30.61 Gross NPA % 3.32 2.60 1.41 Net NPA % 0.87 1.51 0.68 PCR (Provision Coverage Ratio) % 74.50 42.63 52.08 Debt to Equity (D/E) ratio (Leverage) Times 3.20 1.42 1.23 Net Worth ₹ in million 12,930.02 28,641.13 54,497.59 Borrowings/Total Debt ₹ in million 41,394.98 40,570.00 67,239.00 Average disbursal per Branch ₹ in million 21.16 28.71 24.10 128Aye Finance Limited Five Star Business Data p oints Unit (Formerly known as Aye SBFC Finance Limited Finance Limited Finance Private Limited Collection efficiency (%) (%) 93.10 NA NA Loans Outstanding/No of Active customers Number 4,81,059 NA NA Credit Rating** Letter Grade N CD [IND] A- NA NA Positive B ank loans [IND] A- NA NA Positive Commercial paper [IND] A1 NA NA P rincipal protected market-linked debenture (PP-MLD) IND PP-MLD A - NA NA Positive *This includes disbursement made to secured MSMEs only **Pursuant to the rating letter dated February 20, 2024 by India Ratings and Research Limited. As per the ratings provided,(i) the long term rating outlook of the Company was upgraded to "Positive" from "Stable", (ii) rating of A- was affirmed, and (iii) for commercial paper, the rating was upgraded to A1 from A2+. #For peers Average Total Borrowing is simple average of borrowing at the end of the period / year and at the end of the last period / year. As of, and for the financial year ended, March 31, 2025 Finance Limited (Formerly SBFC Finance Five Star Business Data points Unit known as Aye Finance Limited Finance Limited Private Limited Number of Branches Number 526 205 748 Number of States/UTs Number 21 18 11 Assets Under Management (AUM) ₹ in million 55,338.96 87,474.00 118,770.00 AUM Growth YoY % 23.99 28.23 23.20 AUM Mix by Product (hypothecation loan-secured, hypothecation loan-unsecured, ‘Saral’ Property loan, Mortgage Loan) Hypothecation secured % 43.62 NA NA Hypothecation unsecured % 39.68 NA NA ‘Saral’ Property Loans % 1.98 NA NA Mortgage loans % 14.72 NA NA AUM per Branch ₹ in million 105.21 426.70 158.78 Retention Rate % 49.54 NA NA Disbursements Total ₹ in million 42,913.39 26,707.00* 49,697.00 Disbursements in Repeat loans ₹ in million 19,076.76 NA NA Disbursement Growth YoY % 8.95 (4.38) 1.81 Disbursement Mix (hypothecation loan-secured, hypothecation loan- % unsecured, ‘Saral’ Property Loans, mortgage loan) Hypothecation secured % 43.56 NA NA 129Finance Limited (Formerly SBFC Finance Five Star Business Data points Unit known as Aye Finance Limited Finance Limited Private Limited Hypothecation unsecured % 42.08 NA NA ‘Saral’ Property Loans % 1.29 NA NA Mortgage loans % 13.06 NA NA Disbursement per LA Nos 62.89 NA NA Average ticket size on Disbursement (Overall) ₹ in million 0.16 NA NA Average ticket size on Disbursement (Repeat loans) ₹ in million 0.20 NA NA Total Interest Income ₹ in million 13,259.64 11,963.46 27,662.77 Total Income ₹ in million 15,049.87 13,061.09 28,660.24 Finance Cost / Interest Expense ₹ in million 4,680.03 4,192.44 6,679.81 Net Interest Income (NII) ₹ in million 8,579.61 7,771.02 20,982.96 Operating Expense ₹ in million 5,195.25 3,546.29 6,784.84 Profit After Tax ₹ in million 1,752.52 3,451.68 10,724.90 Return On Equity (RoE) % 12.12 11.57 18.65 Yield on Net Advances % 29.10 17.50 25.20 Yield on Gross Advances % 28.02 17.18 24.79 Net Interest Margin (NIM) % 15.31 9.93 16.07 Cost of Borrowings / Average cost of borrowing / funds % 11.57 9.05 9.38 Average cost of borrowing / funds (on Total Assets)# % 8.35 5.35 5.12 Return on average Total Assets (RoTA) % 3.13 4.41 8.22 Credit cost to Average Total Assets % 5.15 0.94 0.68 Operating Expense to Average Total Assets % 9.27 4.53 5.20 Capital to risk weighted assets ratio (CRAR) % 34.92 36.10 50.10 Cost to Income Ratio % 50.10 39.99 30.87 Gross NPA % 4.21 2.74 1.79 Net NPA % 1.40 1.51 0.88 PCR (Provision Coverage Ratio) % 67.56 45.69 51.31 Debt to Equity (D/E) ratio (Leverage) times 2.73 1.65 1.26 Net Worth ₹ in million 16,588.68 31,901.31 63,046.07 Borrowings/Total Debt ₹ in million 45,263.25 52,643.18 79,219.94 Average disbursal per Branch ₹ in million 81.58 130.28 66.44 Collection efficiency (%) (%) 91.75 NA NA Loans Outstanding/No of Active customers Number 554,699 NA NA Credit Rating Letter Grade NCD** [IND] A Stable NA NA Bank loans** [IND] A Stable NA NA Commercial paper** [IND] A1 NA NA P rincipal protected market-linked debenture (PP-MLD)** IND PP-MLD A Stable NA NA 130Finance Limited (Formerly SBFC Finance Five Star Business Data points Unit known as Aye Finance Limited Finance Limited Private Limited Long Term Bank Facility*** [ICRA] A Stable NA NA *This includes disbursement made to secured MSMEs only. ** Pursuant to the rating letter dated July 19,2024 by India Ratings and Research Limited. As per the ratings provided, (i) long-term issuer rating was revised from ‘IND A-/ Positive Outlook’ to ‘IND A/Stable Outlook’ , and (ii) Affirms Commercial paper at ‘IND A1’. ***ICRA Rating letter dated December 6, 2024. #For peers Average Total Borrowing is simple average of borrowing at the end of the period / year and at the end of the last period / year. For a comparison of our KPIs with listed peers for the Financial Years 2024 and 2023, see “Basis for Offer Price - Comparison of our KPIs with listed industry peers for the Financial Years included in the Restated Financial Statements - As of, and for the financial year ended, March 31, 2024” and “Basis for Offer Price - Comparison of our KPIs with listed industry peers for the Financial Years included in the Restated Financial Statements - As of, and for the financial year ended, March 31, 2023” on pages 126 and 128 of the DRHP. 131VI. Comparison of Key Performance Indicators over time shall be explained based on additions or dispositions to our business Our Company has not made any additions or dispositions to its business during the three months ended June 30, 2025 and June 30, 2024 and the Financial Years ended March 31, 2025, March 31, 2024 and March 31, 2023. VII. Weighted average cost of acquisition, Floor Price and Cap Price 1. Price per share of the Company (as adjusted for corporate actions, including split, bonus issuances) based on primary issuances of Equity Shares or convertible securities (excluding Equity Shares issued under Employee Stock Option Plans and issuance of Equity Shares pursuant to a bonus issue) during the 18 months preceding the date of this Addendum, where such issuance is equal to or more than 5% of the fully diluted paid-up share capital of the Company in a single transaction or multiple transactions combined together over a span of rolling 30 days (“Primary Issuances”) 132Cost per Equity % of paid up No. of Equity Share/Preference capital (fully Date of Issuance Name of Allotee Nature of Transaction Shares/Preference shares (including diluted prior to shares ^ securities allotment) premium) (₹)#*^ September 23, Elevation Capital V Limited 5,171,910 2.86 5.80 Conversion of Series A CCPS into equity shares 2024 September 23, MAJ Invest Financial Inclusion Fund II K/S 5,171,910 2.86 56.13 Conversion of Series A CCPS into equity shares 2024 September 23, Elevation Capital V Limited 7,339,315 4.05 13.63 Conversion of Series A1 CCPS into equity shares 2024 September 23, MAJ Invest Financial Inclusion Fund II K/S 2,201,795 1.22 56.13 Conversion of Series A1 CCPS into equity shares 2024 September 23, A91 Emerging Fund I LLP 5,137,520 2.84 110.48 Conversion of Series A1 CCPS into equity shares 2024 September 23, Elevation Capital V Limited 10,303,010 5.69 21.35 Conversion of Series B CCPS into equity shares 2024 September 23, LGT Capital Invest Mauritius PCC with Cell E/VP 14,049,055 7.76 21.35 Conversion of Series B CCPS into equity shares 2024 September 23, A91 Emerging Fund I LLP 8,429,735 4.66 110.48 Conversion of Series B CCPS into equity shares 2024 September 23, Elevation Capital V Limited 7,985,025 4.41 51.25 Conversion of Series C CCPS into equity shares 2024 September 23, LGT Capital Invest Mauritius PCC with Cell E/VP 4,917,265 2.72 51.25 Conversion of Series C CCPS into equity shares 2024 September 23, CapitalG LP 15,781,255 8.72 51.25 Conversion of Series C CCPS into equity shares 2024 September 23, LGT Capital Invest Mauritius PCC with Cell E/VP 3,421,610 1.89 85.34 Conversion of Series D CCPS into equity shares 2024 September 23, CapitalG LP 3,904,930 2.16 85.34 Conversion of Series D CCPS into equity shares 2024 September 23, MAJ Invest Financial Inclusion Fund II K/S 1,824,540 1.01 85.34 Conversion of Series D CCPS into equity shares 2024 September 23, Alpha Wave India I LP 18,224,365 10.07 85.34 Conversion of Series D CCPS into equity shares 2024 September 23, Alpha Wave India I LP 2,435,570 1.35 123.17 Conversion of Series E CCPS into equity shares 2024 September 23, LGT Capital Invest Mauritius PCC with Cell E/VP 4,566,695 2.52 123.17 Conversion of Series E CCPS into equity shares 2024 September 23, CapitalG International LLC 5,784,485 3.20 123.17 Conversion of Series E CCPS into equity shares 2024 133Cost per Equity % of paid up No. of Equity Share/Preference capital (fully Date of Issuance Name of Allotee Nature of Transaction Shares/Preference shares (including diluted prior to shares ^ securities allotment) premium) (₹)#*^ September 23, MAJ Invest Financial Inclusion Fund II K/S 1,826,680 1.01 123.17 Conversion of Series E CCPS into equity shares 2024 September 23, A91 Emerging Fund I LLP 2,435,570 1.35 123.17 Conversion of Series E CCPS into equity shares 2024 September 23, British International Investment plc 17,124,410 9.46 145.99 Conversion of Series F CCPS into equity shares 2024 September 23, Waterfield Alternative Investments Fund I 2,397,370 1.32 145.99 Conversion of Series F CCPS into equity shares 2024 September 23, A91 Emerging Fund I LLP 1,712,445 0.95 145.99 Conversion of Series F CCPS into equity shares 2024 September 26, British International Investment plc 1,138,135 0.63 175.73 Allotment of equity shares 2024 September 26, IMP2 Assets Pte. Ltd. 9,557,490 5.28 175.73 Allotment of equity shares 2024 Weighted average price^ 82.59 * As certified by B.B. & Associates, Chartered Accountants, bearing firm registration number 023670N, by their certificate dated September 11, 2025. ^ Adjusted for sub-division of face value of ₹10 per equity share to ₹ 2 per equity share pursuant to the resolution passed by the Board dated October 16, 2024 and resolution passed by the Shareholders dated October 17, 2024. # Cash consideration for equity shares acquired pursuant to conversion of Preference Shares into equity shares has been paid at the time of issuance of relevant Preference Shares. 1342. Price per share of the Company (as adjusted for corporate actions, including bonus issuances) based on secondary sale or acquisition of equity shares or convertible securities (excluding gifts) involving any of the Selling Shareholders or other Shareholders of the Company with rights to nominate directors during the 18 months preceding the date of filing of this Addendum, where the acquisition or sale is equal to or more than 5% of the fully diluted paid-up share capital of our Company (calculated based on the pre-Offer capital before such transaction/s and excluding ESOPs granted but not vested), in a single transaction or multiple transactions combined together over a span of rolling 30 days (“Secondary Transactions”) N.A. 3. If there are no such transactions to report under 1 and 2 above, the following are the details of the price per share of our Company basis the last five primary or secondary transactions (secondary transactions where Selling Shareholders or other shareholders with the right to nominate directors on our Board, are a party to the transaction), not older than three years prior to the date of filing of this Addendum irrespective of the size of transactions N.A. 4. The Floor Price is [●] times and the Cap Price is [●] times the weighted average cost of acquisition at which the Equity Shares were issued by our Company or sold by our Selling Shareholders or other shareholders with the right to nominate directors on our Board are disclosed below: Past transactions Weighted average cost Floor Price (₹)* Cap Price (₹)* of acquisition per Equity Share (₹)# Weighted average cost of 82.59 [●] [●] acquisition of Primary Issuances Weighted average cost of NA [●] times [●] times acquisition of Secondary Transactions * To be updated at the Prospectus stage. # As certified by B.B. & Associates, Chartered Accountants, bearing firm registration number 023670N, by their certificate dated September 11, 2025. 5. Detailed explanation for Offer Price/ Cap Price being [●] times of WACA of primary issuances /secondary transactions of Equity Shares (as disclosed above) along with our Company’s KPIs and financial ratios for three months ended June 30, 2025 and June 30, 2024 and the Financial Years ended March 31, 2025, March 31, 2024 and March 31, 2023 [●]* * To be included on finalisation of Price Band. 6. Explanation for the Offer Price/Cap Price, being [●] times of WACA of primary issuances/secondary transactions of Equity Shares (as disclosed in point 3 above) in view of the external factors which may have influenced the pricing of the Issue. [●]* *To be included on finalisation of Price Band. Investors should read the above-mentioned information along with “Risk Factors” and “Our Business” on pages 30 and 201, respectively of the DRHP and “Restated Financial Statements” on page 1 of this Addendum, to have a more informed view. The trading price of the Equity Shares of our Company could decline due to the factors mentioned in “Risk Factors” on page 30 of the DRHP and you may lose all or part of your investments. 135DECLARATION I hereby certify and declare that all relevant provisions of the Companies Act 2013, and the rules, regulations and guidelines issued by the Government of India, or the rules, regulations and guidelines issued by SEBI established under Section 3 of the SEBI Act, as the case may be, have been complied with and no statements, disclosures and undertakings made in this Addendum are contrary to the provisions of the Companies Act 2013, the Securities and Exchange Board of India Act, 1992, the Securities Contracts (Regulation) Act, 1956, the Securities Contracts (Regulation) Rules, 1957 each as amended, or the rules, regulations and guidelines issued thereunder, as the case may be. I further certify that all the statements, disclosures and undertakings in this Addendum are true and correct. SIGNED BY THE DIRECTOR OF OUR COMPANY _________________________ Govinda Rajulu Chintala (Chairperson and Independent Director) Date: Place: 136DECLARATION I hereby certify and declare that all relevant provisions of the Companies Act 2013, and the rules, regulations and guidelines issued by the Government of India, or the rules, regulations and guidelines issued by SEBI established under Section 3 of the SEBI Act, as the case may be, have been complied with and no statements, disclosures and undertakings made in this Addendum are contrary to the provisions of the Companies Act 2013, the Securities and Exchange Board of India Act, 1992, the Securities Contracts (Regulation) Act, 1956, the Securities Contracts (Regulation) Rules, 1957 each as amended, or the rules, regulations and guidelines issued thereunder, as the case may be. I further certify that all the statements, disclosures and undertakings in this Addendum are true and correct. SIGNED BY THE DIRECTOR OF OUR COMPANY _________________________ Sanjay Sharma (Managing Director, Executive Director) Date: Place: 137DECLARATION I hereby certify and declare that all relevant provisions of the Companies Act 2013, and the rules, regulations and guidelines issued by the Government of India, or the rules, regulations and guidelines issued by SEBI established under Section 3 of the SEBI Act, as the case may be, have been complied with and no statements, disclosures and undertakings made in this Addendum are contrary to the provisions of the Companies Act 2013, the Securities and Exchange Board of India Act, 1992, the Securities Contracts (Regulation) Act, 1956, the Securities Contracts (Regulation) Rules, 1957 each as amended, or the rules, regulations and guidelines issued thereunder, as the case may be. I further certify that all the statements, disclosures and undertakings in this Addendum are true and correct. SIGNED BY THE DIRECTOR OF OUR COMPANY _________________________ Sanjaya Gupta (Independent Director) Date: Place: 138DECLARATION I hereby certify and declare that all relevant provisions of the Companies Act 2013, and the rules, regulations and guidelines issued by the Government of India, or the rules, regulations and guidelines issued by SEBI established under Section 3 of the SEBI Act, as the case may be, have been complied with and no statements, disclosures and undertakings made in this Addendum are contrary to the provisions of the Companies Act 2013, the Securities and Exchange Board of India Act, 1992, the Securities Contracts (Regulation) Act, 1956, the Securities Contracts (Regulation) Rules, 1957 each as amended, or the rules, regulations and guidelines issued thereunder, as the case may be. I further certify that all the statements, disclosures and undertakings in this Addendum are true and correct. SIGNED BY THE DIRECTOR OF OUR COMPANY _____________________ Vinay Baijal (Independent Director) Date: Place: 139DECLARATION I hereby certify and declare that all relevant provisions of the Companies Act 2013, and the rules, regulations and guidelines issued by the Government of India, or the rules, regulations and guidelines issued by SEBI established under Section 3 of the SEBI Act, as the case may be, have been complied with and no statements, disclosures and undertakings made in this Addendum are contrary to the provisions of the Companies Act 2013, the Securities and Exchange Board of India Act, 1992, the Securities Contracts (Regulation) Act, 1956, the Securities Contracts (Regulation) Rules, 1957 each as amended, or the rules, regulations and guidelines issued thereunder, as the case may be. I further certify that all the statements, disclosures and undertakings in this Addendum are true and correct. SIGNED BY THE DIRECTOR OF OUR COMPANY _________________________ Kanika Tandon Bhal (Independent Director) Date: Place: 140DECLARATION I hereby certify and declare that all relevant provisions of the Companies Act 2013, and the rules, regulations and guidelines issued by the Government of India, or the rules, regulations and guidelines issued by SEBI established under Section 3 of the SEBI Act, as the case may be, have been complied with and no statements, disclosures and undertakings made in this Addendum are contrary to the provisions of the Companies Act 2013, the Securities and Exchange Board of India Act, 1992, the Securities Contracts (Regulation) Act, 1956, the Securities Contracts (Regulation) Rules, 1957 each as amended, or the rules, regulations and guidelines issued thereunder, as the case may be. I further certify that all the statements, disclosures and undertakings in this Addendum are true and correct. SIGNED BY THE DIRECTOR OF OUR COMPANY _________________________ Padmaja Nair (Independent Director) Date: Place: 141DECLARATION I hereby certify and declare that all relevant provisions of the Companies Act 2013, and the rules, regulations and guidelines issued by the Government of India, or the rules, regulations and guidelines issued by SEBI established under Section 3 of the SEBI Act, as the case may be, have been complied with and no statements, disclosures and undertakings made in this Addendum are contrary to the provisions of the Companies Act 2013, the Securities and Exchange Board of India Act, 1992, the Securities Contracts (Regulation) Act, 1956, the Securities Contracts (Regulation) Rules, 1957 each as amended, or the rules, regulations and guidelines issued thereunder, as the case may be. I further certify that all the statements, disclosures and undertakings in this Addendum are true and correct. SIGNED BY THE DIRECTOR OF OUR COMPANY _________________________ Aditya Misra (Non- Executive and Non- Independent Director) Date: Place: 142DECLARATION I hereby certify and declare that all relevant provisions of the Companies Act 2013, and the rules, regulations and guidelines issued by the Government of India, or the rules, regulations and guidelines issued by SEBI established under Section 3 of the SEBI Act, as the case may be, have been complied with and no statements, disclosures and undertakings made in this Addendum are contrary to the provisions of the Companies Act 2013, the Securities and Exchange Board of India Act, 1992, the Securities Contracts (Regulation) Act, 1956, the Securities Contracts (Regulation) Rules, 1957 each as amended, or the rules, regulations and guidelines issued thereunder, as the case may be. I further certify that all the statements, disclosures and undertakings in this Addendum are true and correct. SIGNED BY THE CHIEF FINANCIAL OFFICER _________________________ Krishan Gopal (Chief Financial Officer) Date: Place: 143DECLARATION I, Vikram Jetley acting as a Selling Shareholder, hereby confirms that all statements, disclosures and undertakings specifically made or confirmed by him in this Addendum in relation to himself, severally and not jointly, as a Selling Shareholder and his respective portion of the Offered Shares, are true and correct. I, Vikram Jetley assumes no responsibility for any other statements, disclosures and undertakings, including, any of the statements, disclosures or undertakings made or confirmed by or relating to the Company or any other Selling Shareholder(s) or any other person(s) in this Addendum. VIKRAM JETLEY _________________________ Date: Place: 144DECLARATION I, Harleen Kaur Jetley, acting as a Selling Shareholder, hereby confirms that all statements, disclosures and undertakings specifically made or confirmed by her in this Addendum in relation to himself, severally and not jointly, as a Selling Shareholder and his respective portion of the Offered Shares, are true and correct. I, Harleen Kaur Jetley, assumes no responsibility for any other statements, disclosures and undertakings, including, any of the statements, disclosures or undertakings made or confirmed by or relating to the Company or any other Selling Shareholder(s) or any other person(s) in this Addendum. HARLEEN KAUR JETLEY _________________________ Date: Place: 145DECLARATION We, MAJ Invest Financial Inclusion Fund II K/S, acting as a Selling Shareholder, hereby confirms that all statements, disclosures and undertakings specifically made or confirmed by it in this Addendum in relation to itself, severally and not jointly, as a Selling Shareholder and its respective portion of the Offered Shares, are true and correct. MAJ Invest Financial Inclusion Fund II K/S assumes no responsibility for any other statements, disclosures and undertakings, including, any of the statements, disclosures or undertakings made or confirmed by or relating to the Company or any other Selling Shareholder(s) or any other person(s) in this Addendum. For and on behalf of MAJ Invest Financial Inclusion Fund II K/S _________________________ Authorised Signatory Name: Marianne Settnes Designation: Managing Director, General Counsel Date: Place: 146DECLARATION We, LGT Capital Invest Mauritius PCC with Cell E/VP, acting as a Selling Shareholder, hereby confirms that all statements, disclosures and undertakings specifically made or confirmed by it in this Addendum in relation to itself, severally and not jointly, as a Selling Shareholder and its respective portion of the Offered Shares, are true and correct. LGT Capital Invest Mauritius PCC with Cell E/VP assumes no responsibility for any other statements, disclosures and undertakings, including, any of the statements, disclosures or undertakings made or confirmed by or relating to the Company or any other Selling Shareholder(s) or any other person(s) in this Addendum. For and on behalf of LGT Capital Invest Mauritius PCC with Cell E/VP _________________________ Authorised Signatory Name: Rishikesh Batoosam Designation: Director Date: Place: 147DECLARATION We, A91 Emerging Fund I LLP, acting as a Selling Shareholder, hereby confirms that all statements, disclosures and undertakings specifically made or confirmed by it in this Addendum in relation to itself, severally and not jointly, as a Selling Shareholder and its respective portion of the Offered Shares, are true and correct. A91 Emerging Fund I LLP assumes no responsibility for any other statements, disclosures and undertakings, including, any of the statements, disclosures or undertakings made or confirmed by or relating to the Company or any other Selling Shareholder(s) or any other person(s) in this Addendum. For and on behalf of A91 Emerging Fund I LLP _________________________ Authorised Signatory Name: Abhay Pandey Designation: General Partner Date: Place: 148DECLARATION We, Alpha Wave India I LP, acting as a Selling Shareholder, hereby confirms that all statements, disclosures and undertakings specifically made or confirmed by it in this Addendum in relation to itself, severally and not jointly, as a Selling Shareholder and its respective portion of the Offered Shares, are true and correct. Alpha Wave India I LP assumes no responsibility for any other statements, disclosures and undertakings, including, any of the statements, disclosures or undertakings made or confirmed by or relating to the Company or any other Selling Shareholder(s) or any other person(s) in this Addendum. For and on behalf of Alpha Wave India I LP _________________________ Authorised Signatory Name: Cathy Weist Designation: Authorized Signatory Date: Place: 149DECLARATION We, CapitalG LP, acting as a Selling Shareholder, hereby confirms that all statements, disclosures and undertakings specifically made or confirmed by it in this Addendum in relation to itself, severally and not jointly, as a Selling Shareholder and its respective portion of the Offered Shares, are true and correct. CapitalG LP assumes no responsibility for any other statements, disclosures and undertakings, including, any of the statements, disclosures or undertakings made or confirmed by or relating to the Company or any other Selling Shareholder(s) or any other person(s) in this Addendum. For and on behalf of CapitalG LP _________________________ Authorised Signatory Name: Jeremiah Gordon Designation: General Counsel and Secretary Date: Place: 150DECLARATION We, CapitalG International LLC, acting as a Selling Shareholder, hereby confirms that all statements, disclosures and undertakings specifically made or confirmed by it in this Addendum in relation to itself, severally and not jointly, as a Selling Shareholder and its respective portion of the Offered Shares, are true and correct. CapitalG International LLC assumes no responsibility for any other statements, disclosures and undertakings, including, any of the statements, disclosures or undertakings made or confirmed by or relating to the Company or any other Selling Shareholder(s) or any other person(s) in this Addendum. For and on behalf of CapitalG International LLC _________________________ Authorised Signatory Name: Jeremiah Gordon Designation: General Counsel and Secretary Date: Place: 151