Annual Report 2010-11

The last decade has seen the Indian life insurance sector evolve and grow substantially thereby
cementing its position as a key component of the financial services sector and contributing significantly to
economic development and nation building.

At ICICI Prudential Life, the journey over the last decade has been one of learning and doing simple things the right way, like focusing extensively on delivering high quality products & services to customers. This has resulted in the company becoming the trusted insurance partner for the nations population. Due to its deep understanding of consumer needs, the company has been able to provide customized solutions encompassing the vital components of protection, financial security and long term financial goals. An ingrained value of constant innovation has ensured that innovation is reflected in every sphere, encompassing all functions within the organization. The company believes in embracing technological innovations and harnessing it to enhance customer service and create efficiencies. We believe that providing a strong foundation of financial security for customers has enabled us to successfully navigate decade. through the last
ICICI Prudential Life Insurance is proud to partner a nation in progress.
Annual Report 2010-2011
CORPORATE REPORT 2 4 6 10 12 14 Message from the Chairperson Message from the Chief Executive, Prudential Corporation Asia Message from the Managing Director & CEO Board of Directors Board Committees Company Highlights Corporate Report Financial Report
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BUSINESS REPORT 16 19 22 24 26 28 30 The evolution of the Indian life insurance industry The building blocks Reaching the customers doorstep Providing need-based solutions The service approach Geared for a tech-savvy tomorrow New horizons Business Report
FINANCIAL REPORT 32 41 49 55 68 70 293 329 Directors Report Management Report Corporate Governance Management Discussion and Analysis Auditors Report Financial Statements Consolidated Financial Statements New Business Profit
Corporate Report
Message from the Chairperson

Dear Stakeholders,
The Indian economy has changed at an unprecedented pace in the last decade. Its position today amongst the fastest growing economies in the world rests on the fundamental economic strengths of strong domestic consumption and investment. These strengths have built resilience in the economy. The world is currently witnessing uncertainty and volatility in financial markets, arising out of concerns over the fiscal position and weak growth outlook for developed markets. However, Indias strength lies in its domestic growth drivers, which position our country for strong and sustained growth over the long term. Several growth fundamentals are in place, which include rising savings and demand, growing global competitiveness and a favourable demographic profile. Rapidly rising per capita incomes have translated into rising demand for goods and services, and the desire for higher standards of living. The rural economy has also been transforming with rising incomes providing the impetus to consumption and savings. A growing consuming class combined with the human capital to drive growth will take India to higher levels in terms of inclusive and rising purchasing power. Future growth will be driven by the hopes and aspirations of over a billion people. Given this macro economic perspective, we expect robust demand for financial services and products from both households and businesses. Life insurance is a key sector in the financial services space, which is expected to see significant growth in the coming years as the growing savings pool seeks long-term investment options as well as products for mitigating the impact of potential future risks, including health and mortality. ICICI Prudential Life Insurance Company (ICICI Prudential Life) is well-equipped to leverage the growth opportunities presented by the economys growth momentum. The life insurance sector is poised for its next phase of growth and we are confident that ICICI Prudential Life will continue on its profitable growth path as the largest private sector player in India. The fiscal year 2011 saw ICICI Prudential Life record profits for the second consecutive year. Going forward, the focus at ICICI Prudential Life will be to maintain its growth trajectory, while at the same time continuing to focus on profitability.
icici pRudential life insuRance

Corporate Report
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Rising financial literacy levels in the country have increased the demand for financial solutions across the country. Penetration of life insurance solutions in particular has witnessed robust traction. Being sensitive to the needs of people and providing the highest quality of service has earned the loyalty of customers, which has enabled the company to execute a strategy of profitable growth. We believe that technology can add significant value to every aspect of the business. We will continue to leverage technology in every aspect to enhance customer service, create efficiencies and provide an unmatched experience to a customer base that has reposed its faith and trust in ICICI Prudential Life. We believe that the long-term growth fundamentals of the life insurance sector in India are strong and offer a strong potential for growth. ICICI Prudential Life, as one of the largest private sector players, is well positioned to be the preferred life insurance partner for the people of India.
We believe that the long-term
growth fundamentals of the insurance sector in India are strong and offer a strong
potential for growth.
Chanda kochhar
Chairperson
Corporate RepoRt
Message from the Chief Executive,

Prudential Corporation Asia
The Indian life insurance market is one of the worlds most dynamic. In the ten short years since liberalisation, so much has been achieved in terms of expanding the market through building distribution networks, providing careers for many thousands of industry specialists, raising the awareness of personal financial solutions amongst ordinary people and channeling the savings of many millions of hard working Indians into more productive bond and equity based products. Now we are ready to move onto the next stage of development.
We understand the need for and actively support initiatives that are progressive for the industry and help in raising
standards and improve the quality of service to customers.

At Prudential, we have a somewhat unique perspective on the life insurance industry. We have our UK heritage where we have been one of the countrys largest insurers for over a hundred years, our Jackson National business in the US, which is one the leading providers of retirement solutions through variable annuities and, of course, our unrivalled platform of businesses in Asia, where we are industry leaders across a spectrum of markets at varying stages of development. We understand the need for and actively support initiatives that are progressive for the industry and help in raising standards and improve the quality of service to customers. With this in mind, we believe that the regulatory changes effected are a

Corporate Report
move in the right direction for the Indian life insurance sector. These changes have enhanced the value proposition of the life insurance industry and reiterated focus on long term savings and protection solutions that meet customer needs.
I believe ICICI Prudential Life will continue
to be one of the industry leaders.

At Prudential Corporation Asia, we know we have, through ICICI Prudential Life, the platform in place to embrace this change including a trusted brand, comprehensive distribution capabilities, outstanding technical and operational competencies and a proven track record of delivery including a significant increase in IFRS profits this year. Prudential plc has a clearly stated objective to continue expanding its operations in Asia and Indias life insurance sector remains highly attractive to us. We see excellent long term prospects for the sustained and profitable growth of the sector and with the support of its parents, ICICI Bank and Prudential plc, I believe ICICI Prudential Life will continue to be one of the industry leaders.
Barry Stowe
Chief Executive, Prudential Corporation Asia
Corporate RepoRt
Message from the Managing Director & CEO

Dear Stakeholders,
The financial year 2011 has been a defining year for the Indian life insurance industry. The Regulator introduced significant and exciting changes that altered the dynamics of the life insurance industry. These changes further reinforced the proposition of life insurance as a means of ensuring protection and providing financial security in the case of an eventuality. It also ensured a greater balance of power amongst all stakeholders of the industry, namely the insurer, customer and distributor. These structural changes were introduced to further augment the customers trust in life insurance and simultaneously protecting his interests. This, we believe, is extremely positive for the industry in the long run and these changes have taken us a step closer to building a world class life insurance industry.
During this financial year we relentlessly pursued building
greater efficiencies into our systems and processes.
It is now a decade since the insurance industry was opened up for private participation. In the initial stages after the liberalisation of the sector, the new entrants into the life insurance industry focused on expanding operations and establishing a national footprint. This business model focused on enabling future growth in volumes through large scale expansion. While the insurance industry gained traction in this phase, the next phase of growth witnessed companies focusing on achieving profitable growth. The new regulations also required companies to re-evaluate business models and achieve a balance between
icici prudential life insurance

Corporate Report
top-line and bottom-line growth. It is our firm belief that the new regulations have nudged the industry in a direction which holds a very promising future. At ICICI Prudential Life we have been focusing on achieving Quality Growth coupled with Profitability for sometime now. Therefore, adapting to the new industry dynamics and fine-tuning our strategies was possible in a seamless manner. We are extremely pleased in the manner in which this transition was managed. This has been the second consecutive year that we have delivered profits and this bears testimony to our efforts in achieving profitable growth. During this financial year, we relentlessly pursued building greater efficiencies into our systems and processes. This led to significantly enhancing productivity across the organisation. The challenge here was to achieve the objective without compromising on top-line growth. We believe, the key drivers of delivering this profitability have been continued focus on enhancing persistency levels and managing costs. The results have been consistent with our objective to grow business in a profitable manner and deliver superior value to our customers. While ensuring profitable growth, we were watchful of not deviating from creating value for customers through enhanced service efficiency and by providing a smooth claim settlement process by hand-holding customers through it. The cornerstone of our success has always been, and will continue to be, our customers who continue to repose their trust and are convinced that we are their trusted partner for offering long-term solutions to meet their future financial needs. Given the changing dynamics of the business environment, we have had to recalibrate processes across various verticals in order to enhance efficiency. Products have had to be redesigned in line with the new regulations. Additionally, it only
At ICICI Prudential Life we have been focusing on achieving Quality Growth
coupled with Profitability.
Corporate Report
Message from the Managing Director & CEO

quickened the process for us to have a stronger emphasis on training agents to act as financial planners and provide counsel to customers rather than sell insurance products. We have provided our financial advisors with modules which enable them to recommend relevant products depending on the life stage requirements of customers. Mentoring and re-skilling our financial advisors to the nuances of the changed business environment have started showing positive results and I am confident that this will further contribute to the improving persistency. While our endeavour has always been to provide our customers a balanced mix of products to choose from, we have also focused on providing a higher element of protection. The integration of technology in each and every aspect of our functioning is an ongoing endeavor and we ensured optimal use of technology to significantly enhance customer experience. On the distribution front, we will continue to build on our multi-channel distribution network and continue to look for avenues that will enable us to reach out to our customers in the most cost effective and efficient way. As an organisation, we have completed a journey of ten years from the day we took our first steps. Over the last decade, we have made rapid strides and have continued to set the benchmarks in the life insurance industry. The journey over the last decade has been exciting for all of us, as we went through various stages of learning and improving in the course of our pursuit of excellence. We have taken several steps to adapt to the changing industry landscape and this has enabled us to discover, learn, re-invent ourselves and understand our customers better. Our deep understanding of customer needs has enabled us to provide customised solutions encompassing the vital components of protection, financial security and other long-term financial goals. An ingrained value of constant innovation is reflected in every sphere and touching all functions within the organisation.
The journey over the last decade has been exciting for all of us, as we went through
various stages of learning and improving in the course of our pursuit of excellence.
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Corporate Report
The Indian insurance sector has evolved and grown substantially, thereby cementing its position as a key component within the financial services sector and contributing significantly to economic development and nation building. Going forward, our endeavour will continue to be the preferred insurer of choice for our customers. The immediate future will see us intensifying our efforts for higher integration of technology across all our processes to help us extend our reach. Discerning customers today are technology savvy and are using it effectively to access various products and services. We believe, that technology will be a key catalyst in opening up new frontiers of growth in a market that is vastly under-penetrated.
Going forward, our endeavor will continue to be the preferred insurer of choice for our customers. The immediate future will see us intensifying our efforts for higher
integration of technology across all our processes to help us extend our reach.
We need to prepare ourselves to consolidate the strong foundation laid over the last decade for a new growth trajectory. As the insurance industry stands poised to enter the next level of maturity and growth, we must take it upon ourselves to raise the bar of excellence and performance while maintaining an unwavering focus on providing the highest quality of service to our customers. This, we believe, will yield quality growth and sustained profitability. The overall macro-economic factors of the Indian economy remain as strong as before. The increasing working population with rising income levels and enhanced propensity to save will continue to fuel economic growth which augurs well for the insurance industry. These favourable demographic factors make a compelling case for a bright and promising future for the Indian life insurance industry.
Sandeep Bakhshi
Managing Director & CEO
Corporate RepoRt
Board of Directors
Chanda kochhar
Chairperson
Barry Stowe
Director
Adrian oConnor
Director
n. S. kannan
Director
k. ramkumar
Director
rajiv Sabharwal
Director
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Corporate Report
keki Dadiseth
Independent Director
marti g. Subrahmanyam
rama Bijapurkar
vinod kumar Dhall

Sridar iyengar
Sandeep Bakhshi
Managing Director & CEO
puneet nanda
Executive Director
madhivanan Balakrishnan
Executive Director
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Corporate Report
Board Committees
Audit Committee Keki Dadiseth, Chairman K. Ramkumar Adrian OConnor
Compensation & Nominations Committee Rama Bijapurkar, Chairperson Marti G. Subrahmanyam Vinod Kumar Dhall K. Ramkumar Adrian OConnor Customer Service & Policyholders Protection Committee Vinod Kumar Dhall, Chairman K. Ramkumar Adrian OConnor
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Corporate Report
Investment Committee Marti G. Subrahmanyam, Chairman N. S. Kannan Adrian OConnor Sandeep Bakhshi Puneet Nanda Avijit Chatterjee Manish Kumar Risk management committee Marti G. Subrahmanyam, Chairman Rama Bijapurkar N. S. Kannan Adrian OConnor Share Transfer Committee Vinod Kumar Dhall, Chairman Keki Dadiseth Sandeep Bakhshi 13
Corporate Report
Company Highlights
Profit/(Loss) after tax
INR in billions 8.08
2.58 FY 2008 FY 2009 FY 2010 FY 2011
(7.80)
(13.95)
Continued decline in expense ratio

28.8%
23.0% 19.5% 17.3% 14.9% 11.8% 9.1%
8.2%
FY 2008
FY 2009 Total expense ratio
FY 2010 Expense ratio
FY 2011
Total expense ratio: All expenses (including commission) / (Total premium - 90% of single premium) Expense ratio: All expenses (excluding commission and front line sales cost) / (Total premium - 90% of single premium)
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Healthy growth in assets held

INR in billions
681.50
Superior fund performance

Performance since inception as on March 31, 2011
23.2% 20.3%
573.19
433.25 381.00 11.5% 13.4%
327.88 285.78 161.38
6.0% 193.42 166.50 92.36 192.19 248.25
7.4%
5.8%
6.8%
March 2008
March 2009 Debt
March 2010 Equity
March 2011
Preserver
Protector Benchmark
Balancer Fund
Maximiser
Amongst the largest domestic fund managers
Inception Dates: Preserver Fund: May 17, 2004 Protector Fund: April 2, 2002 Balancer Fund : April 2, 2002 Maximiser Fund: November 16, 2001
Claims settled
INR in billions
4.52 4.06
97%
96%
2.52
1.68
94%
93%
FY 2008
FY 2009
FY 2010
FY 2011
Claims paid
Claims paid: all benefits paid during the period excluding surrenders Acceptance ratio: death claims accepted / total death claim decisions for the period
Acceptance ratio
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BusINess RepoRt
The evolution of the Indian life insurance industry

The idea of insurance has always been linked to security, the notion of saving enough for a rainy day. Life insurance is not just a tool for an individual to ensure the financial security of his loved ones, but also an instrument to create long-term wealth and meet ones long-term financial goals. A welldeveloped insurance industry also holds the keys to the economic development of a country.
Life insurance is not just a tool for an individual to ensure the financial security of his loved ones, but also an instrument to create long-term wealth and meet ones long-term financial goals.
There can be few better examples of this than India. In 1991, India opened its markets to the world, paving the way for a policy of growth that continues till this day. The financial sector was amongst the first to be overhauled and was opened to private players. In 1999, the creation of the Insurance Regulatory and Development Authority (IRDA) was passed through an act of Parliament. The following year, the IRDA commenced granting licenses to private companies. The insurance sector was ready for its own little turnaround.
Change is good, competition even better

India was reaping the benefits of liberalisation and, in many ways, the entry of private players into the insurance industry was a watershed moment. The country had a burgeoning middle class that was
The middle class was experiencing a rise in its per-capita income and GDP was on the rise.
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experiencing a rise in its per capita income, GDP was on the rise and Indian businesses had begun making their mark in global markets. Several foreign institutional investors were also queuing up to enter a market which held a promise of superior returns. The Indian consumer was becoming upwardly mobile and was aspiring for access to products and services, which hitherto were unavailable to him. In 2000, when private players entered the Indian life insurance market, they brought their own share of dynamism into the sector. At that time, life insurance was purchased primarily as a tax-saving tool. The opening up of the sector brought about a paradigm shift and led to the emergence of a
The company embarked on a growth drive and achieved a leadership position by understanding the needs of customers and offering them products and services which were best suited to their individual financial requirements.
larger and more evolved product suite for customers. The Indian customer was provided innovative and world-class solutions that offered a combination of protection and long-term wealth creation. With an increasing number of private players, the customer had an array of customised solutions to choose from. More importantly, these solutions were developed keeping in mind the diverse needs of customers at varying stages in their life cycle. Access to these financial solutions was provided through a range of distribution channels such as banks, agents, direct offices and online platforms. This revolutionised the distribution network and led to the emergence of a more diversified and multichannel distribution network, thereby providing better penetration and accessibility to customers. This was critical given the very low level of penetration of insurance in the country. In such a scenario, innovative products, improved services and the approach of providing advise were by-products of liberalisation of the sector. The customer indeed became the king.
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b u s in e s s R e p o r t
The evolution of the Indian life insurance industry

The ICICI Prudential Life journey
ICICI Prudential Life entered the insurance market in 2000, armed with knowledge derived from two specialist financial sector companies in banking and insurance. ICICI Bank was at the forefront of revolutionising the Indian banking industry, making it synonymous with technology and opening up access to hundreds of thousands of customers in all parts of the country. Prudential Plc is a global
Beneficiaries of the maturity proceeds of the first set of policies issued in December 2000 were felicitated by the company.
financial services entity and one of the largest insurance companies in the UK. ICICI Prudential Life took its first steps into this industry in December 2000 by issuing its first set of policies to underprivileged children. These policies have since then matured and the proceeds were handed over to the beneficiaries. This is testimony to the view which the company has always held of life insurance being a solution for creating a safety net and long-term wealth creation. The company entered the insurance industry with the aspiration of being the dominant player in the Insurance and Pensions category on the back of providing world-class service to customers and being sensitive towards their requirements. The company embarked on a growth drive and achieved a leadership position in the coming years by understanding the needs of customers and offering them products and services, which were best suited to their individual financial requirements. With a core strategy built around the needs of the customer, the company went from strength to strength and established a leadership position in the industry. The endeavour of the company at all times has been to remain accessible to customers across geographies. This led to developing a multi-channel distribution network which include banks, corporate agents, online medium and a proprietary sales force. The multi-channel distribution network provided the opportunity for customers to interact with the company by choosing a channel of their choice. Presently, the company has approximately 1,400 offices, over 175,000 advisors and approximately 10,000 service touch-points across the country.
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The building blocks
Since its entry into the insurance sector, ICICI Prudential Life has cemented its place as one of the strongest and most trusted insurance solution provider in the country. This position has been attained by clearly articulating and developing the building blocks of this institution.
1. reaching out and remaining accessible to customers across the country

The focus at ICICI Prudential Life has always been to reach out to customers at their convenience and enhance accessibility of its insurance solutions and services. In line with this, the company created a multi-channel distribution network to ensure that the benefits of its life insurance solutions and services were available across geographies as well as demographic segments. ICICI Prudential Life has a team of over 13,000 professionals working for it. On the distribution front, the company has more than 5,000 distribution touch points and over 175,000 advisors. Specifically, from the customer service stand-point, the company has more than 10,000 service touch points through various tie-ups. The companys customer service strategy is to enable policyholders to avail its services through multiple channels. As for any grievances, customers can approach any of the following touchpoints for redressal: 1. Call Centre, branch, email, letter, website; 2. Grievance Redressal Officer; 3. Senior Management Grievance Redressal Officer; 4. Grievance Redressal Committee. Alternatively, customers can approach the Ombudsman if they are not satisfied with the response provided by the company.
2. redefining the product and service paradigm

Continuous innovation and improvement in life insurance solutions and services has been the underlying theme of ICICI Prudential Lifes journey over the last decade. Product, fund and service innovation has been a key thrust area for ICICI Prudential Life and it has helped the company establish a leadership position in a competitive business environment. ICICI Prudential Life has been at the forefront of innovation and has introduced various market first products across categories such as protection, wealth creation, retirement and health insurance. The company has not only introduced products of global standards but also empowered customers by enabling them to buy products online, as With services like ClaimCare, ICICI Prudential Life has redefined the product and service paradigm.
Business Report
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BusINess RepoRt
The building blocks

A product portfolio that addresses needs across all life stages Life Stage Insurance need
per their convenience. The company has also set a benchmark in the quality of service offered to customers and has been recognised by professional associations for its excellence in service delivery. A rigorous focus on investment in customer support systems and intensive training of customer support staff has enabled service excellence at every step of the companys relationship with the customer. The endeavour has always been to provide customers service and hand-holding at every step
Savings for wealth creation

Age 25 - 30
Home purchase Pure protection (health + life) Wealth creation for long term
Age 30 - 35
Age 35 - 45
Mortgage insurance Childrens education Savings for childs marriage Retirement provision Childrens higher studies Mortgage insurance
Health insurance
Health care Retirement planning
of their relationship with the company. Providing assistance in their hour of need and always being there for the customer has enabled ICICI Prudential Life to gain the trust of its customers over the last decade.
Age 45 - 55
Post-retirement living expenses - annuities Medical expenses

Age 55+
3. ear to the ground

One of the key approaches at ICICI Prudential Life has been to be cognisant of on-ground conditions and customer preferences. With a keen ear to the ground, ICICI Prudential Life has been able to gauge the impact of macro and micro economic aspects on customers and their needs. This feedback is then integrated into the development of various life insurance solutions and service offerings of the company. The company leverages its extensive multi-channel distribution network to elicit customer and market opinions on the basis of which appropriate solutions are provided.
4. transforming business through technology

Technology is a transformation agent for businesses across sectors and opens up a host of new and hitherto unexplored opportunities. A change is on the anvil for the Indian insurance industry, brought about by technology. ICICI Prudential Life has always utilised technology in its processes and systems to ensure efficiency in customer service and operations. From implementing specialised data systems to easing the
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processing of policies and underwriting, allowing customers to apply for claims via a simple SMS, etc. are just some of the few initiatives that the company has implemented through a higher integration of technology. The company is exploring the potential that online sales offers by designing products suited for distribution through the online channel. A large proportion of customer transactions are done electronically and the automated systems empower customers to change their asset allocation, fund options and generate receipts. Additionally, it greatly improves employee productivity. In an era where technology has entered every sphere of life, ICICI Prudential Life is focused on technology as a key lever in driving future growth and profitability. Standardising the sales process
5. An open mind to new learning always, everywhere, anywhere

Learning at ICICI Prudential Life is a continuous process. The company enjoys the benefits of learning from ICICI Bank, one of the leaders of the private banking industry and one of the first banks to introduce and extensively adopt technology into banking. From Prudential, the company has access to a large industry knowledge pool to which it is also an active contributor. The learning from the market, collected through various channels ensures that ICICI Prudential Life never falls behind on the learning curve.
6. Creating an enabling structure to foster growth and leadership

Fostering cultural integration and building commitment to shared values has created oneness that makes ICICI Prudential Life unique and a preferred employer in the life insurance industry. The company encourages an atmosphere of entrepreneurship that allows its employees to explore possibilities, demonstrate their capabilities and achieve their own as well as the organisational goals. Learning and growth form the key elements of ICICI Prudential Lifes employee value proposition ,which is addressed through a robust training architecture. Following, a competency-based approach, ICICI Prudential Life has articulated a well-defined learning and skill development architecture aimed at grooming future leaders.
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BusINess RepoRt
Reaching the customers doorstep

Lakhanpal, a farmer on the outskirts of Hisar, Haryana had heard about life insurance and the financial security it offers to dependants. He was interested in purchasing a policy that would not only aid in building a corpus through systematic saving but also provide his family financial security in case of any unforeseen tragedy. On enquiring with friends and relatives, he learnt that an ICICI Prudential Life insurance agent was present in his neighbouring village. After meeting up with the advisor, Lakhanpal sought counsel from him and purchased a policy to ensure his familys financial independence. He periodically met the advisor and took guidance on financial planning.
The ICICI Prudential Life insurance advisor took pains to understand my financial needs and recommended suitable solutions. Importantly, he helped me to complete all the paperwork and formalities.
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ICICI Prudential Life today has a well-rounded, multi-channel distribution strategy. This enables the company to reach out and be accessible to customers in a form and manner of their preference bancassurance, direct marketing, corporate distributors, advisors as well as over the Internet. The endeavour is to reach out to and be accessible to customers across different geographies and socio-economic strata. Over the last decade, the company has developed innovative distribution strategies to reach out to customers. The company has invested a great deal in training its distribution network to provide insurance solutions based on the life stage of customers. More importantly, the distribution is tuned to provide counsel and not merely offer products. At the end of the financial year 2011, the geographical footprint of the company across the country was established through more than 50 Bancassurance tie-ups, an agency force of over 175,000 advisors, with product & solutions distribution touch points totaling approximately 5,000. All this was in addition to the 1,400 owned branches. With this breadth and depth of distribution network, the company has contributed towards enhancing financial literacy and inclusion. The company has been able to achieve this enormous size and scale of its distribution network due to extensive use of technology which facilitates the seamless processing of data and ensures quick turn around time. More importantly, it enables the company to provide the exact same level of service to customers across geographies urban, semi-urban or rural. ICICI Prudential Life, over the years, has constantly evaluated its distribution architecture and introduced innovations to meet the changing preferences of customers. The company has also made progress in utilising the online space as a crucial distribution and service touch-point to meet the needs of the increasingly technology-savvy customer.
Business Report
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BusINess RepoRt
Providing need-based solutions

Ramlal Mishra, a railway employee, and his wife Lakshmi, a teacher in an aanganwadi in a small town in Bihar, were just about making ends meet from their combined income. Their biggest concern was the marriage of their daughter. Having realised that he would be faced with a huge financial obligation at the time of his daughters marriage, Mr. Mishra saved through ICICI Pru SavenProtect, that enabled him to accumulate funds on a regular basis while enjoying insurance protection. Over the period of the next ten years, Mr. Mishra was able to build an adequate corpus to fund his daughters wedding by saving systematically through the product. The concept of life insurance has always been linked to protection and financial security. The past decade has seen companies innovate and offer customers products with multiple benefits, while retaining the fundamental attribute of protection. This has ensured that life insurance products not only serve as a means of financial security but also provide an avenue to channelise goal-based savings for important milestones in ones life. Today, the life insurance industry has undergone a sea change in the way customers perceive insurance products. People are increasingly looking at insurance products to serve a whole spectrum of needs ranging from protection, savings, wealth creation as well as to provision for a financially secure retirement. For many it has become the first step towards building a financial plan.
Every parent nurtures a dream about how their daughter should be married. My ICICI Prudential Life insurance policy allowed me to systematically
save and build a corpus over time
that helped me achieve my financial need. I was able to gift my daughter the wedding she dreamt of.
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Innovation in products has been one of the pillars of the companys growth and ICICI Prudential Life has constantly endeavoured to provide products that are in line with changing customer preferences. With its ear to the ground, ICICI Prudential Life understands the varying needs of customers and offers products which enable customers to plan well in advance for certain milestones and be financially prepared. ICICI Prudential Lifes product strategy has always focused on providing a balanced mix of products to meet the protection, wealth creation and pension needs of customers.
Creating a customer focused process

Having a deep understanding of customer requirements, ICICI Prudential Life has been able to anticipate their changing needs and introduce products to brings alive their quiescent needs. Over the span of the last decade, the company has created products and services which have come about as a direct result of an identified customer requirement. The approach here is through a customer-focused strategy that is implemented through multiple customer interfaces.
the formal structure

The company conducts regular focused group discussions with customers, its distribution network and the proprietary sales force to funnel in and gauge the expectations of the market. The idea here is to understand the ground realities and fine tune products and services to be in sync.
the informal structure

This dynamic, interactive and micro-level interface usually occurs on a daily basis. Distribution centres across the country start their day with a meeting where advisors discuss market scenarios, competitive landscape, and customer feedback on products. This wealth of information is converted into measurable and actionable points.
improving accessibility
One of the key areas of a successful customer programme is accessibility. Here the company has put into practice lessons learned from many sources, internal and external. With more than 10,000 service points and more than 175,000 advisors, ICICI Prudential Life ensures that the advice and support for the customer is never more than a phone call away. This level of service has resulted in ICICI Prudential Life gaining highest brand recall and consideration value among private insurance companies.
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b u s in e s s R e p o r t
The service approach

Amit and Nisha Tripathy had been married for over three years and had recently moved into their new apartment which they had bought after taking a loan from a bank. Unfortunately, Amit met with an accident and passed away. Emotionally shattered and financially affected, Nisha was heartened by ICICI Prudential Lifes hand-holding and support during this distressing period to get her claim on her husbands insurance policy processed. The claim proceeds enabled her to not only fulfill the home mortgage obligation but also helped her plan for her familys future.
I realised the importance of life insurance when my husband recently passed away. ICICI Prudential
Lifes fast track claim settlement process of my husbands policy helped me meet the mortgage obligations as well as build a pool of savings for my family.
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At ICICI Prudential Life, one of the yardsticks to measure the companys success has been to gauge the quantum of protection provided to customers. While wealth creation can be quantified, there is really no measure to gauge the emotional security provided to society. One of the vital ingredients for ICICI Prudential Life becoming the preferred partner for customers has been the experience whilst interfacing with the company; it is one of re-assurance, completely devoid of stress and more importantly, reinforces the hand-holding provided by the company. In case of any eventuality, the dependant family members need to be reassured that they will be paid the claim without any hassles. This is one of the most important criteria on the basis of which customers acquire insurance solutions. The attributes of TRUST & FAITH are of paramount importance and go a long way in enabling the company to become the insurer of choice. The claims philosophy at ICICI Prudential Life is to ensure faster settlement of genuine claims by providing wider access for claim intimation across various touch points i.e. branches, website, SMS and call centre, thereby offering greater convenience to claimants in their time of distress. Further, the company handles every claim with a high degree of sensitivity and ensures complete hand-holding of the claimant at every step of the settlement process. The claims settlement ratio for ICICI Prudential Life (of the decided claims) in FY 2011 was 97%. Over the last year, ICICI Prudential Life has emerged as one of the front runners within the industry when it comes to claim settlement. The company has effectively employed technology by allowing customers to apply for claims online and through text messages. The customer is also kept updated at every stage of the claims process. The company has managed to improve its efficiencies without compromising the high standards of service. This has been done by leveraging technology and re-engineering processes to automate activities like underwriting and data entry. The companys investments in customer support systems and intensive training of customer support staff have also helped to provide faster solutions to customers during critical times like maturity and claim settlement.
Business Report
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BusINess RepoRt
Geared for a tech-savvy tomorrow

Sanchit Sharma is a young marketing professional in Mumbai who lives with his wife and two young kids. With the challenges of handling the expenses of a young family, Sanchit wanted an insurance plan with a premium that didnt pinch his pocket too hard but provided a safety cover for his family. His problem was that he did not have the time or patience for elaborate paperwork. He found what he was looking for in the ICICI Pru iProtect Life Insurance Plan. To his surprise, he could buy a policy online at his convenience.
technology the change agent

From surfing the Internet on computers to surfing the Internet on mobile phones, technology has been the game changer in every part of the world. For the insurance industry, in particular, the changes brought on by technology offer unfathomed potential to increase reach and scale without large scale capital expenditure. The company has recognised that technology can address various business challenges and more importantly, allow the company to significantly raise the bar for customer interaction and service. The company has implemented numerous technology solutions which have substantially decongested the process flow, increased efficiencies and reduced dependence on
The website provides ease and convenience for purchasing policies. It largely eliminates the hassle of paperwork. Just a one time process
enables me to buy policies for me and my family

from the convenience of my home.
28
physical infrastructure. The sum total of all these initiatives has led to significant savings and greater efficiencies and span of reach. Deploying various technology solutions has enabled the company to create a robust online platform which saw the first online term product being offered to customers last year. The plan stands apart as the entire process is completely online, beginning from premium calculations to facilitating premium payments through a secure payment gateway. Additionally, the website interface permits users to return to a partially completed application form for a period of 14 days. The facility of online purchase will gradually be extended to include the entire product suite of the company. Apart from introducing products on the online platform, the company has also introduced some technology-centered services. The electronic welcome kit addresses an important customer need. Customers can access their policy documents in an electronic format, on the companys website or through email. This is especially valuable for customers who live abroad or in remote locations and customers who need their documents urgently. The My Navigator solution implemented by the company enables the sales force to identify and prioritise business opportunities. While, the sourcing part of the business remains critical, the company lays equal importance on other aspects of the business viz; customer experience and service. The implementation of the Insta Insure solution has significantly improved the productivity metrics for providing customers a seamless and differentiated insurance buying experience. An industry first has been the implementation of the Single Screen Underwriting which has substantially reduced manual intervention and issuance discrepancies. It ensures robust Anti Money Laundering and KYC controls and has enabled the company to ensure faster issuances.
Insurance the demat way

There have been many recent developments on enabling a demat environment for insurance policies. This is a significant development for the Indian insurance industry as customers will be able to operate their policy accounts in a manner similar to that in the capital market. ICICI Prudential Life sees this as an immense potential for growth. This proposal, once finalised, will allow customers to have better control over their policy and largely negate the problem of missing documentation that delays claim settlement. This will enable speedy processing of claims, right from the point of claim intimation to settlement, thus increasing scope for a better customer experience.
Business Report
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BusINess RepoRt
New horizons
Contribution of the insurance sector to the economy
A dynamic insurance sector is one of the key drivers of a countrys economy. With an emphasis on protection, planned savings, long-term investment and large inflows, the insurance sector provides a fund base for the countrys growth through providing long term capital. The insurance sector gainfully channelises the savings of the population and directs it towards productive investments which provides the required stimulus for economic growth. More importantly, life insurance enhances the risk-taking ability of entrepreneurs as it offers financial protection to dependants in case of any eventualities. This significantly increases the risk-bearing ability of the nation and fuels sustained growth. Finally, a growing sector also means additional job opportunities.
mining trends in technology

India is one of the worlds largest exporters of technology and continues to power, amongst others, the global financial services industry. However, the use of technology in the domestic financial services industry currently reflects just the tip of the iceberg. Extensive use of technology holds the key to transforming the manner in which the industry is currently functioning and reaching out to customers. Technology not only substantially reduces costs for companies but exponentially increases efficiencies. The Indian insurance industry can derive remarkable benefits in reaching out to and providing solutions to customers if the power of technology is meticulously harnessed. More importantly, it can significantly enhance the levels and quality of service to customers.
preferred medium
Website
SMS/Phone
Call centre
Branch or other physical touchpoints
ICICI Prudential Life is focusing on developing products that can be offered to customers, specifically through the online channel. Notwithstanding this the company is also in the process of adapting the current array of products for the online platform.
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Exploring the potential of Indias demographic transition

Apart from technology, the other big growth driver lies in the scale of Indias masses. The overall macro economic factors of the Indian economy remain as strong as before. The increasing working population with rising income levels, enhanced propensity to save and rising financial literacy levels will continue to fuel the growth of insurance going forward. This essentially implies that as the economy continues to grow and a larger segment of the population starts earning at a younger age; (a) the overall percentage of savings will increase considerably and; (b) as people fully understand the importance of life insurance, the allocation of savings towards this category is bound to rise People have begun realising the unique value proposition that life insurance offers, viz; protection with long term wealth creation. All these factors favour the growth of the Indian insurance industry. With a higher life expectancy, people are increasingly becoming aware that they need to financially provision for their post retirement years. In this scenario, life insurance can fill the void in the backdrop of a lack of a social security system. Additionally, the growing inflation, rising cost of health and medical care and a growing trend of nuclear families has made people acutely aware of the importance of financial independence post retirement.
Increased transparency with customers

Life insurance is long-term in nature and therefore it is imperative that customers fully comprehend the solution they are buying. At ICICI Prudential Life, the endeavor has always been to have complete transparency with customers and taking steps to educate them on how they can make the best use of their policy. For instance, when a customer is purchasing a new solution, great care is taken to ensure that they have properly understood the policy. Comprehensive product brochures, compact and easy to understand policy terms and conditions, welcome calling and a single page summary of policy features all contribute to this. The effort has been to educate customers about the importance of protection and long term wealth creation. Various customer connect programmes such as Dialogue calls, senior management meetings, by invitation only and service camps were effectively implemented last year in a bid to increase interaction and engagement with customers.
Business Report
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financial Report
Directors Report
Your Directors have pleasure in presenting the Eleventh Annual Report of ICICI Prudential Life Insurance Company Limited (the Company) with the audited statement of accounts for the year ended March 31, 2011. PERFORMANCE The performance for year ended March 31, 2011 is summarised below: Particulars Number of new policies (in 000) Financials parameters Premium income:
l l
(` 000) Fiscal 2010 1,762 165,287,541 63,339,231 101,948,310 2,805,295 (225,610) 2,579,685 1,554,604,064 1,837,566,001 Fiscal 2011 1,351 178,806,290 78,621,397 100,184,893 8,325,037 (248,809) 8,076,228 1,350,544,690 1,737,644,341 39,754,314 681,504,252 8.2%
New business premium Renewal premium
Profit before taxation Provision for taxation (deferred tax) Profit after taxation Sum assured in force:
l l
Basic policy Total (Basic + Riders)

1
Annualised premium equivalent (APE ) Assets held Expense ratio* Sales and distribution strength Geographical spread:
l l
53,447,541 573,186,159 9.1%
Number of offices Number of locations
1,918 1,726 211
1,404 1,256 176
Number of advisors (in 000)
* Expense ratio = All expenses (excluding commission and front line sales cost)/(Total premium income - 90% of single premium) During the year ended March 31, 2011, the Company registered a premium income of ` 178.80 billion, showing an increase of 8.2% over the earlier year. The Companys new business premium income stood at ` 78.62 billion showing a growth of 24.1% over the earlier year. The renewal premium stood at ` 100.18 billion for the year, down by 1.7% over the earlier year. OUR REACH The Company reaches its customers through 1,404 offices in 1,256 locations at March 31, 2011. At March 31, 2011, the Company had over 13,000 employees and over 176,000 advisors and is thus well equipped to cater to the needs of customers. PRODUCTS The Company introduced a new set of non-linked products and revamped its linked products during the year. The new products are focused on achieving a more balanced product mix.
1
Annualised Premium Equivalent Annualised premium for all policies issued during the year with a weight of 10% considered for single premium and group premium.
32

DIVIDEND The financial operations have resulted in a profit (after tax) of ` 8.08 billion as compared to a profit (after tax) of ` 2.58 billion for the earlier year. However, in view of the accumulated losses of the Company to the tune of ` 27.11 billion, the Directors are unable to recommend a dividend for the current financial year. CLAIMS The Company believes that claim settlement is the ultimate promise which needs to be delivered to policyholders/ beneficiaries. Towards this objective, we have designed and developed robust claims processes and systems which ensures settlement of genuine and legitimate claims at the earliest, thereby protecting the interest of policyholders. The Company has demonstrated its commitment by settling over 14,700 mortality claims in fiscal 2011. The average claim settlement was done within 7 days from receipt of last requirement as compared to the regulatory norm of 30 days. GOVERNANCE As a good corporate citizen reflecting the parentage of the shareholders, the Company has institutionalised its governance framework, brief details of which are as follows: A. BOARD OF DIRECTORS The Board comprises fourteen Directors; four nominated by ICICI Bank Limited, two nominated by Prudential Plc, five Independent Directors, a Managing Director & CEO and two Executive Directors. Except the two Executive Directors and the Managing Director & CEO, all other Directors including the Chairperson of the Board are NonExecutive Directors. There is a clear segregation of responsibility and authority between the Chairperson and the Managing Director & CEO. The Board is responsible for overall corporate strategy and other responsibilities as laid down by IRDA under the Corporate Governance guidelines. The Managing Director & CEO and the Executive Directors oversee implementation of strategy, achievement of the business plan and day-to-day operations. There is an appropriate mix of Executive, Non-Executive and Independent Directors to maintain the professionalism and independence of the Board. The Independent Directors are eminent personalities with significant expertise in the fields of finance, law, strategy, marketing and insurance. None of the Directors are related to any other Director or employee of the Company. During the year, the Board appointed Rajiv Sabharwal as a Nominee Director of ICICI Bank and Sridar Iyengar as an Independent Director. Keki Dadiseth, Vinod Kumar Dhall and N. S. Kannan will retire by rotation at the ensuing Annual General Meeting and are eligible for re-appointment. B. BOARD COMMITTEES The Board has six Committees, details of which are as follows: 1. Board Audit Committee: Members: Keki Dadiseth (Chairman) K. Ramkumar Adrian OConnor Terms of reference: I. Accounts & Audit
l
O versee the financial statements, financial reporting, statement of cash flow and disclosure processes both on an annual and quarterly basis. ecommend the appointment, re-appointment and, if required, the replacement or removal; R remuneration, performance and oversight of the work of the auditors (internal/statutory/ concurrent).
33
financial Report
versight of the procedures and processes established to attend to issues relating to maintenance O of books of account, administration procedures, transactions and other matters having a bearing on the financial position of the Company, whether raised by the auditors or by any other person. Discuss with the statutory auditors before the audit commences, about the nature and scope of audit, as well as, have post-audit discussions to address areas of concern. A pproval of payment to statutory auditors and internal auditors or any of its associated persons or companies, for any other services rendered by them. R eviewing, with the management, the annual financial statements before submission to the Board for approval, with particular reference to:
l Matters
required to be included in the Directors Responsibility Statement to be included in the Boards report in terms of clause (2AA) of section 217 of the Companies Act, 1956. if any, in accounting policies and practices and reasons for the same.
l Changes, l
Major accounting entries involving estimates based on the exercise of judgment by management. Significant adjustments made in the financial statements arising out of audit findings. with listing and other legal requirements relating to financial statements to the extent applicable. of any related party transactions. in the draft audit report.
l Compliance l Disclosure
l Qualifications
T o the extent applicable review with the management, the statement of uses/application of funds raised through an issue (public issue, rights issue, preferential issue, etc.), the statement of funds utilised for purposes other than those stated in the offer document/prospectus/notice and the report submitted by the monitoring agency monitoring the utilisation of proceeds of a public or rights issue, and making appropriate recommendations to the Board to take up steps in this matter.
II.
Internal Audit
l
R eview the adequacy of internal audit function, if any, including the structure of the internal audit department, staffing and seniority of the official heading the department, reporting structure, coverage and frequency of internal audit. Oversee the efficient functioning of the internal audit department and review its reports. The Committee will additionally monitor the progress made in rectification of irregularities and changes in processes wherever deficiencies have come to notice. Set-up procedures and processes to address all concerns relating to adequacy of checks and control mechanisms. Review the findings of any internal investigations by the internal auditors into matters where there is suspected fraud or irregularity or a failure of internal control systems of a material nature and reporting the matter to the Board. Review with the management, performance of statutory and internal auditors, and the adequacy of the internal control systems. L ook into the reasons for substantial defaults in the payment, if any, to the depositors, debenture holders, shareholders (in case of non payment of declared dividends) and creditors. Review the functioning of the Whistle Blower mechanism. the compliance function and the Companys risk profile in respect of compliance with external laws and regulations and internal policies, including the Companys code of ethics or conduct.
III. Compliance & Ethics

l Monitor
34

l
Review reports on the above and on proactive compliance activities aimed at increasing the Companys ability to meet its legal and ethical obligations, on identified weaknesses, lapses, breaches or violations and the controls and other measures in place to help detect and address the same. S upervise and monitor matters reported using the Companys whistle blowing or other confidential mechanisms for employees and others to report ethical and compliance concerns or potential breaches or violations. A dvise the Board on the effect of the above on the Companys conduct of business and helping the Board set the correct tone at the top by communicating, or supporting the communication, throughout the Company of the importance of ethics and compliance. A pprove compliance programmes, reviewing their effectiveness on a regular basis and signing off on any material compliance issues or matters. To review key transactions involving conflict of interest.
2.
Board Risk Management Committee: Members: Marti G. Subrahmanyam (Chairman) Rama Bijapurkar N. S. Kannan Adrian OConnor Terms of reference: I. Risk Management:
l
II.
A ssist the Board in effective operation of the risk management system by performing specialised analyses and quality reviews. aintain a group wide and aggregated view on the risk profile of the Company in addition to the M solo and individual risk profile. R eport to the Board details on the risk exposures and the actions taken to manage the exposures. A dvise the Board with regard to risk management decisions in relation to strategic and operational matters such as corporate strategy and acquisitions and related matters. F ormulate and implement optimal ALM strategies, both at product level and enterprise level and meeting risk/reward objectives. Lay down the risk tolerance limits. Monitor risk exposures at periodic intervals and revise ALM strategies where required. Place the ALM information before the Board at periodic intervals.
Asset Liability Management (ALM):

l
3.
l l l
Board Investment Committee Members: Marti G. Subrahmanyam (Chairman) N. S. Kannan Adrian OConnor Sandeep Bakhshi, Managing Director & CEO Puneet Nanda, Executive Director Avijit Chatterjee, Appointed Actuary Manish Kumar, Head - Investments
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financial Report
Terms of reference:
l
R esponsible for laying down an overall Investment Policy and operational framework for the investment operations of the Company. The Policy should focus on prudential Asset Liability Management (ALM) supported by robust internal control systems. The Investment Policy and operational framework should, inter alia, encompass aspects concerning liquidity for smooth operations, compliance with prudential regulatory norms on investments, risk management/mitigation strategies to ensure commensurate yield on investments and above all protection of policyholders funds. Responsible for a periodic review of the Investment Policy based on the performance of investments and the evaluation of dynamic market condition. in place an effective reporting system to ensure compliance with the Policy set out by it apart from Internal/Concurrent Audit mechanisms for a sustained and on-going monitoring of Investment Operations. the Companys risk/reward objectives and assess policyholders expectations. the level of risk exposure and assess the expected rewards and costs associated with the risk exposure. T o furnish a report to the Board on the performance of Investments atleast on a quarterly basis and provide analysis of its Investment portfolio and on the future outlook.
l Put
l Set
l Quantify
4.
Board Policyholders Protection Committee Members: Vinod Kumar Dhall (Chairman) K. Ramkumar Adrian OConnor Terms of reference:
l
P utting in place proper procedures and effective mechanism to address complaints and grievances of policyholders including misselling by intermediaries E nsure compliance with the statutory requirements as laid down in the regulatory framework pertaining to policyholders protection Review of the mechanism at periodic intervals E nsure adequacy of disclosure of material information to the policyholders. These disclosures shall, for the present, comply with the requirements laid down by the Authority both at the point of sale and at periodic intervals Review the status of complaints of the policyholders at periodic intervals P rovide the details of grievances at periodic intervals in such formats as may be prescribed by the Authority Provide details of insurance ombudsmen to the policyholders S hape the customer service philosophy and policies of the organisation based on the overall environment in the financial services industry Oversee the functions of the customer service council Review measures for enhancing the quality of customer service Provide guidance to improve in the overall satisfaction level of customers
l l
l l
l l
l l l
36

5. Board Compensation & Nominations Committee Members: Rama Bijapurkar (Chairperson) Marti G. Subrahmanyam Vinod Kumar Dhall K. Ramkumar Adrian OConnor Terms of reference:
l l l
6.
Nominating Directors on the Board Fix remuneration of the Directors Approve executive compensation program
Share Transfer Committee Members: Vinod Kumar Dhall (Chairman) Keki Dadiseth Sandeep Bakhshi, Managing Director & CEO Terms of reference:
l l l l
C.
Approval and rejection of transfer and transmission of shares in physical form Approval and rejection of requests for split and consolidation of share certificates Approval and rejection of issue of duplicate share certificates Any other activities which are incidental or ancillary thereto
INTERNAL AUDIT AND COMPLIANCE FRAMEWORK
Internal Audit: The Company has in place an internal audit framework with a risk based audit approach. The basic philosophy of risk based internal audit is to provide reasonable assurance to the Board Audit Committee and top management about the adequacy and effectiveness of the risk management and control framework in the Company. Review of controls is done by internal audit through execution of internal audits as per risk based audit plan. The internal audit covers auditing of processes, transactions and systems. Key audit observations and recommendations made are reported to the Board Audit Committee every quarter. Implementation of the recommendations is actively monitored. The internal audit function is capable of reviewing and assessing the adequacy and effectiveness of, and the Companys adherence to its internal controls as well as reporting on its policies and procedures. Compliance: The Board Audit Committee oversees the compliance framework of the Company. The Compliance function disseminates appropriate laws & regulations to various functions. It also serves as a reference point for the staff of various functions for seeking clarifications on applicable laws & regulations issued by the regulatory authority. The Compliance team also monitors the adequacy of compliance framework across the Company, any key issues observed as a part of this monitoring are reported to the Board Audit Committee, and implementation of recommendations is actively monitored. A compliance certificate signed by the Managing Director & CEO, based on the certifications from respective functional heads is placed at the Board Audit Committee on a quarterly basis. D. RISK MANAGEMENT FRAMEWORK Investment Risk: The Company uses the 1-year 99.5% Value at Risk (VaR) of the Embedded Value (EV) as a measure of risk exposure for market risk. The Company also conducts resilience testing of the balance sheet to evaluate the impact of market stresses on solvency and free assets.
37
financial Report
The assets under management for the linked portfolio, in respect of which there is minimal investment risk on the regulatory Balance Sheet, amount to around 90% of the policyholders funds. However, the linked funds for future appropriation (FFA), which arise from lapsed policies after adjusting for revivals, expose the Company to market risks to a limited extent. For the non-participating portfolio, Asset Liability Management (ALM) is done through design of appropriate strategic asset allocation as per the risk characteristics of the portfolio. The Company regularly monitors the equity backing ratios and asset liability duration mismatch as per the Investment Specifications which define the strategic asset allocation. In addition, for certain products, a cashflow matching strategy is also used. On the participating portfolio, the Companys asset allocation strategy, which includes investments in equities, is designed to achieve the twin objectives of managing risks arising from guarantees and optimising returns, subject to regulatory constraints. Credit risk is managed by restricting investments only in government bonds and highly rated corporate securities and constant monitoring of the credit portfolio. In addition, there are exposure limits to companies, groups and industries. Insurance risks: The Company uses the 1-year 99.5% Value at Risk (VaR) of the EV as the measure of risk exposure for persistency, mortality and morbidity risks. The Company conducts its experience analysis regularly to compare actual experience with assumptions used for pricing and EV calculations to ensure that corrective action can be initiated at the earliest opportunity and assumptions are in line with experience. The Company uses reinsurance and underwriting as key mitigants for mortality and morbidity risk. The Company also reserves the right to review risk charges for certain products, in case of adverse experience, with IRDA approval. Expense risk is recognised as a significant risk by the Company as it impedes the development of the EV. The Company monitors the actual unit costs versus the planned unit costs for both acquisition and renewal expenses. In case of any adverse deviations, mitigation measures are taken. Operational Risks: The Company identifies its Operational Risks through periodic Risk and Control Self Assessment (RCSA) which requires each business unit within the Company to identify and assess risks in terms of likelihood and impact. The risks identified are classified into seven risk classes (similar to the Basel II classification). The risk events are then mapped to the existing control framework to determine the residual risk, if any. The Company also measures loss incidents to track the extent of operational risk. WHISTLE BLOWER POLICY The Company has a Whistle Blower Policy which serves as a channel of communication to employees, who know or have genuine suspicion of breaches to the Code of Conduct, any legal violation in relation to work related issues or non adherence to accounting policies & procedures adopted to present true and fair view of the operations & financial position of the Company. RURAL AND SOCIAL BUSINESS More than 352,899 policies were issued in rural areas, constituting over 25.7% of total policy issuances. The Company also covered more than 159,427 lives falling within the norm of social sector business. DETAILS AS PER SECTION 217(2A) As required by the provisions of Section 217 (2A) of the Companies Act, 1956, read with the Companies (Particulars of Employees) Rules, 1975, as amended, the names and relevant particulars of the employees are set out in Annexure to the Directors Report. INCREASE IN SHARE CAPITAL The paid-up capital of the Company was increased by ` 3.2 million (face value) contributed by members of the Employee Stock Option Scheme taking the paid-up capital to ` 14.28 billion (face value) at March 31, 2011.
38

PUBLIC DEPOSITS During the year under review, the Company has not accepted any deposits under Section 58A of the Companies Act, 1956. AUDITORS B S R & Co. and Walker, Chandiok & Co, Chartered Accountants, were re-appointed as joint statutory auditors of the Company at the 10th Annual General Meeting to hold office up to the conclusion of the ensuing Annual General Meeting. Walker, Chandiok & Co, Chartered Accountants, were first appointed as joint statutory auditors of the Company at the 6th Annual General Meeting for fiscal 2007. Pursuant to circular dated July 25, 2005 regarding the appointment of statutory auditors by insurance companies, IRDA requires that the joint statutory auditors should retire after completion of 5 years. Since Walker, Chandiok & Co has completed the tenure of 5 years, it is now proposed to appoint S. R. Batliboi & Co. in place of Walker, Chandiok & Co, together with B S R & Co. as joint statutory auditors for fiscal 2012. A special notice has been received by the Company under Section 225(1) of the Companies Act, 1956 proposing the appointment of S. R. Batliboi & Co., Chartered Accountants as one of the joint Statutory Auditors of the Company in place of Walker, Chandiok & Co No representation referred to in section 225(3) has been received from the retiring Auditors. ADDITIONAL INFORMATION In view of the nature of business activity of the Company, the information relating to the conservation of energy and technology absorption, as required under Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988, is not required to be given. Details of foreign exchange earnings and outgo required under above Rules are as under: (` 000) Particulars Foreign exchange earnings and outgo Earnings Outgo 9,354 281,640 437,160 Fiscal 2010 Fiscal 2011
SUBSIDIARY The Company has a wholly owned subsidiary, ICICI Prudential Pension Funds Management Company Limited (PFM). The PFM was appointed by the Pension Fund Regulatory and Development Authority (PFRDA) as a pension fund manager and acts as a fund manager under the New Pension Scheme (NPS) for Indian citizens other than government employees. It is the only pension fund manager under NPS which is promoted by a life insurance company with experience in managing long term investments of life and pension funds. During the year ended March 31, 2011, the subscribers funds managed by PFM have reached ` 107.7 million (previous year: ` 13.2 million) and for the year ended March 31, 2011 the PFM registered a loss of ` 2,158 (previous year: loss of ` 137,455). DIRECTORS RESPONSIBILITY STATEMENT The Directors confirm that: 1. 2. in the preparation of the annual accounts, the applicable accounting standards have been followed; he Directors have selected such accounting policies and applied them consistently and made judgments and t estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year and of the profit of the Company for that period;
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financial Report
3.
he Directors have taken proper and sufficient care for the maintenance of adequate accounting records in t accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities; and the Directors have prepared the annual accounts on a going concern basis.
4.
ACKNOWLEDGEMENTS The Directors are grateful to the Insurance Regulatory & Development Authority, Reserve Bank of India and Government of India for their continued co-operation, support and advice. The Directors would also like to take this opportunity to express sincere thanks to its valued customers for their continued patronage. The Directors express their gratitude for the valuable advice, guidance and support received from time to time, from the auditors and the statutory authorities. The Directors express their deep sense of appreciation to all employees and distributors, who continue to display outstanding professionalism and commitment, enabling the organisation to retain market leadership in its business operations. The Directors also wish to express their gratitude to ICICI Bank Limited and Prudential Corporation Holdings Limited for their continued trust and support. For and on behalf of the Board Mumbai, April 21, 2011 Chanda Kochhar Chairperson
40
Management Report
In accordance with the provisions of the Insurance Regulatory and Development Authority (IRDA) (Preparation of Financial Statements and Auditors Report of Insurance Companies) Regulations, 2002, the following Management Report is submitted for the year ended March 31, 2011: 1. Certificate of Registration The Certificate of Registration under Section 3 of the Insurance Act, 1938 was granted by IRDA on November 24, 2000. The Company has obtained renewal of registration certificate from IRDA for the financial year ended March 31, 2012 as required under Section 3A of the Insurance Act, 1938. 2. Statutory liabilities We hereby certify that all dues payable to the statutory authorities have been duly paid except those under dispute or disclosed under contingent liabilities in the notes to accounts forming part of the financial statements. 3. Shareholding pattern We hereby confirm that the shareholding pattern of the Company during the year under review was in accordance with the statutory requirements. There was no capital infusion by the promoters during the year under review. The Company has an approved Employees Stock Option Scheme under which 318,266 shares have been allotted during the year under review. 4. The shareholding pattern of the Company at March 31, 2011 was as follows: 1. 2. 3. ICICI Bank Limited 73.88% Prudential Corporation Holdings Limited 25.95% Others 0.17%
Investments outside India
We hereby declare that no investments, directly or indirectly have been made outside India from the funds of the holders of policies issued in India. 5. Solvency margin We hereby confirm that the Company has adequate assets to cover both its liabilities and required solvency margin as prescribed under Section 64VA of the Insurance Act, 1938 and the IRDA (Assets, Liabilities and Solvency Margin of Insurers) Regulations, 2000. 6. Valuation of Assets in the Balance Sheet We certify that the values of all the assets have been reviewed on the date of Balance Sheet and that to the best of our belief the assets set forth in the Balance Sheet are shown in aggregate at amounts not exceeding their realisable or market value. Non-Linked Investments As required by IRDA (Preparation of Financial Statements and Auditors Report of Insurance Companies) Regulations 2002 all debt securities, including government securities and redeemable preference shares, are considered as held to maturity and accordingly measured at historical cost, subject to amortisation of premium or accretion of discount in the Revenue account or the Profit and Loss account over the period of maturity/holding on a straight line basis. At March 31, 2011 the market value of these investments is lower by ` 1,026,343 thousand (Previous year: the market value of these investments was lower by ` 469,475 thousand). The lower market value is attributable to the rise in yields during the year. Purchase of long term government securities in the non-linked funds is primarily with an objective of Asset Liability management and hence we continue to manage our portfolio with long-term focus.
41
financial Report
Equity and mutual fund investments are fair valued at the Balance Sheet date. The unrealised gain as at March 31, 2011 on these investments amounts to ` 2,381,059 thousand (Previous year: Unrealised gain of ` 2,483,842 thousand). Investment in real estate is valued at historical cost, subject to revaluation (done at least once in every three years). The real estate investment has been subjected to revaluation during the year ended March 31, 2011 however there is no change in the carrying amount (Previous year: ` 668,879 thousand was taken to the revaluation reserve in the Balance Sheet). Linked Investments Investments in linked business are valued as per the terms of the respective schemes on mark-to-market basis. 7. Application and Investments of Life Insurance Funds We certify that no part of the life insurance fund has been directly or indirectly applied in contravention of the provisions of the Insurance Act, 1938. 8. Overall risk exposure and strategy adopted to mitigate the same The Company uses the following approaches to assess risk exposure. isk to the Embedded Value (EV): The Company considers the 1-year Value at Risk (VaR) of the EV, calculated R using estimates of 1-in-200 year economic and non economic stress scenarios, to be the appropriate measure of risk exposure for market, persistency, mortality and morbidity risks. Risk to the development of the EV: The Company also considers risks to the future growth of the EV.
Risk to the statutory position: The Company also considers the impact of market risk on its statutory position. It conducts asset liability modelling on its balance sheet to assess potential impacts on its solvency cover and on its free surplus. The analysis indicates that even under extreme economic stresses the available solvency margin would remain well above 150% of the required solvency margin required by regulations. The mitigation strategy in respect of various risks is as under: (a) Market risk: The mitigation strategies for different portfolios are as follows: i. Non-participating conventional portfolio: The Company manages the risk on products which have guaranteed returns by investing only in fixed income instruments. Asset Liability Management (ALM) is done through monthly rebalancing of the portfolio, in order to manage the duration gap between assets and liabilities. In addition, for certain products a cashflow matching strategy is used. ii. Non-participating conventional portfolio with guarantees linked to benchmark: The Companys asset allocation strategy, which includes investments in equities, is designed to achieve the twin objectives of managing risks arising from guarantees and optimising returns, subject to regulatory constraints. Asset Liability Management (ALM) is done through monthly monitoring of the equity backing ratio and duration gap between assets and liabilities, and corrective action is taken as required. Surrender penalties mitigate the risk due to policy surrenders. iii. Participating portfolio: The Companys asset allocation strategy, which includes investments in equities, is designed to achieve the twin objectives of managing risks arising from guarantees and optimising returns, subject to regulatory constraints. Asset Liability Management (ALM) is done through monthly monitoring of the equity backing ratio, and corrective action is taken as required. The bonus declaration mechanism also helps in the smoothing of the volatility of the investment returns. Surrender penalties mitigate the risk due to policy surrenders. iv. Linked portfolio: The assets under management for the linked portfolio, in respect of which there is minimal investment risk on the regulatory Balance Sheet, amount to about 90% of the policyholders funds as on March 31, 2011. However, the linked funds for future appropriation (FFA), which arise from lapsed policies after adjusting for revivals, are sensitive to market movements and expose the Company to market risks to a limited extent.
42

v. Unit-linked products with guarantees: The Company offers limited guarantees in some of its unit linked products. The reserves arising from products with guarantees are a small part of the total reserves.
The Company uses a mix of stochastic and deterministic approaches to calculate the cost for providing the guarantee and holds a reserve on this account. (b) Credit risk: The Company manages the credit risk of its investments through the following measures: i. Exposure limits for companies, groups and industries in accordance with IRDA norms and limits as per the Investment Policy; ii. Restricting approved investments only to securities rated AA and above or to instruments specifically approved by the Executive Investment Committee; and iii. Constant monitoring of the credit portfolio.
(c) Liquidity risk: The Company faces limited liquidity risk due to the nature of its liabilities. The Company has put the following mitigants in place : i. The Investment Specifications for the various funds provide guidelines to manage liquidity risk either by specifying the minimum investment in overnight or cash instruments to meet near term liquidity requirements or specifying cashflow matching. ii. Most of our linked product terms and conditions allow us to delay the claim payouts under certain stress scenarios.
(d) Morbidity and Mortality risk: The Company uses the following approaches to manage its mortality and morbidity risk: i. Reinsurance: The Company uses a combination of surplus, quota share and catastrophe reinsurance treaties with reputed and highly rated international reinsurers to manage the risk. ii. iii. epricing: The Company also reserves the right to review risk charges, in case of adverse experience, R with IRDA approval. nderwriting and claims controls: Underwriting and claims policies and procedures are in place U to assess and manage the risks. The Company conducts periodic reviews of both underwriting and claims procedures.
iv. Policy contracts: The product coverage, exclusions and terms and conditions are designed in consultation with reinsurers and in line with market practice to manage insurance risk. v. Experience analysis: The Company conducts its experience analysis regularly to ensure that corrective action can be initiated at the earliest opportunity and that assumptions are in line with experience. i. xperience analysis: The Company conducts its experience analysis regularly to ensure that corrective E action can be initiated at the earliest opportunity and that assumptions used in product pricing and embedded value are in line with experience. roduct features: The Company uses features like bonuses and additional allocation of units to P encourage policyholders to continue with the policy.
(e) Persistency risk: The Company uses the following approaches to manage the risk:
ii.
iii. Service initiatives: The Company uses a combination of proactive and reactive interventions to manage persistency. The interventions could include sending communication via different media like email to customers and distributors, reminders and telephonic interviews with customers, and visits to customers. iv ligning key performance indicators: The Company uses different key performance indicators for A different levels of hierarchy in sales and operations to align interests and ensure adequate focus on persistency.
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financial Report
(f) Expense risk: The Company actively monitors its expense levels, which are then fed back into new product pricing, calculation of reserves and management reporting. In case of any adverse deviations between actual unit costs and planned unit costs, mitigation measures are taken. (g) Operational risk: The Company identifies its Operational Risks through periodic Risk and Control Self Assessment (RCSA) which requires each business unit within the Company to identify and assess risks in terms of likelihood and impact. The risks identified are classified into seven risk classes (similar to the Basel II classification). The risk events are then mapped to the existing control framework to determine the residual risk, if any. The Company also measures loss incidents to track the extent of operational risk. Operations abroad The Company has set up representative offices in the Kingdom of Bahrain and the United Arab Emirates.
9.
10. Claims In respect of mortality claims, the average time taken by the Company from the date of submission of the final requirement by the claimant to despatch of claim payment was as follows: Period 2010-11 2009-10 2008-09 2007-08 2006-07 2005-06 Average claim settlement time (in days) 7 7 7 6 7 7
The ageing of claims registered and not settled as of March 31, 2011 has been detailed herein below: Linked business: (` 000) Period Upto 30 days Greater than 30 days and upto 6 months Greater than 6 months and upto 1 year Greater than 1 year and upto 5 years Greater than 5 years Number of claims 100 60 7 49 2 Amount 30,740 12,392 1,130 9,356 440 (` 000) Period Upto 30 days Greater than 30 days and upto 6 months Greater than 6 months and upto 1 year Greater than 1 year and upto 5 years Greater than 5 years Number of claims 60 66 6 23 2 Amount 18,399 7,022 981 2,930 493
Non-linked business:
Claims remain unpaid for greater than 6 months for want of proof of title or the cause of death or pending other necessary documentation, to determine the claim liability.
44

11. Valuation of investments We hereby certify that the investments in debt securities except for linked business are stated at historical cost subject to amortisation of premium or accretion of discount in the revenue account or the profit and loss account over the period of maturity/holding on a straight line basis. Equity and mutual fund investments are carried at fair value. Investments in venture funds and secured loans from policyholders funds are valued at cost. Investment in real estate is valued at historical cost, subject to revaluation (done at least once in every three years) and provision for impairment, if any. The investments in linked business are valued as per the terms of the respective schemes on mark-to-market basis, as follows:
l
E quity shares: All traded equity shares are valued at closing price on the National Stock Exchange (NSE) on the valuation day (in case the security is not listed on NSE, the last quoted closing price on the Bombay Stock Exchange (BSE) is used) G overnment securities: Bonds issued by Government of India and State Governments bonds are valued as per the valuations for Central and State government securities released by Credit Rating Information Services of India Limited (CRISIL) C orporate debt securities: Corporate bonds and debentures are valued on a yield to maturity basis, by using spread over the benchmark rate (matrix released by CRISIL on daily basis) to arrive at the yield for pricing the instrument Mutual fund units: Mutual fund units are valued at latest available net asset values of the respective fund Money market instruments are valued at historical cost, subject to amortisation of premium or accretion of discount over the period of maturity/holding on a straight-line basis Venture fund investments: Investment in venture fund units is valued at the latest available net asset values of the respective fund Fixed deposits with banks: Investments in Fixed deposits are valued at cost Others: As per market practice and the approved valuation policy of the company.
l l
l l
12. Review of Asset Quality All investments are made in accordance with the Insurance Regulatory and Development Authority (Investments) (4th Amendment) Regulations, 2008. The portfolio mix of assets of the Company at March 31, 2011 is as under: Asset type Equity shares Money market instruments Debentures and bonds Fixed deposits Government securities Mutual and venture funds Other securities and net current assets Total % of total investments* 62.6% 12.5% 11.0% 6.3% 5.6% 0.4% 1.6% 100.0%
* Non-linked Funds under management are valued at fair value for equity and mutual fund. Debt securities, including government securities are measured at historical cost subject to amortisation. The value of investment property is presented at historical cost, subject to revaluation. Linked Funds are valued at market value.
45
financial Report
Returns generated by major funds during the year are given below: 1 year Assets Held (Annualised returns) (` 000) Fund Benchmark 10.92% 87,020,112 11.87% 10.97% 11.94% 8.07% 65,917,830 8.88% 7.95% 9.01% 64,450,735 49,397,049 32,827,879 10.07% 10.95% 8.71% 9.59% 9.93% 10.86% 9.08% 32,688,141 10.01% 9.07% 10.02% 9.26% 23,334,516 10.21% 9.16% 10.15% 6.52% 20,285,684 7.90% 6.49% 7.87% 20,041,460 16,257,430 4.81% 5.70% 6.73% 8.55% 8.55% 8.55% 8.55% 7.26% 7.26% 7.26% 7.26% 7.26% 7.26% 8.15% 8.55% 8.55% 8.15% 8.15% 11.14% 11.14% 11.14% 11.14% 6.63% 6.63% 5.06% 5.06% 5.78% 3 year (Annualised returns) Fund 8.94% 9.88% 8.95% 9.84% 6.65% 7.35% 6.59% 7.47% 6.88% 7.75% 9.77% 8.47% 9.40% 9.67% 9.66% 8.07% 9.02% 8.14% 9.02% 8.79% 8.81% 7.37% 8.34% 9.48% Benchmark 5 year (Annualised returns) Fund Benchmark 11.32% 11.32% 11.32% NA NA NA NA NA NA NA NA NA 11.32% 11.32% NA NA NA NA NA NA NA NA 8.93% 8.93% 8.93% NA 5.94% 5.94% 7.36%
Fund
Maximiser Fund Maximiser Fund II Maximiser Fund III Maximiser Fund IV Flexi Growth Fund Flexi Growth Fund II Flexi Growth Fund III Flexi Growth Fund IV Pension Flexi Growth Fund Pension Flexi Growth Fund II Pension RICH Fund Pension RICH Fund II Pension Maximiser Fund Pension Maximiser Fund II RICH Fund RICH Fund II RICH Fund III RICH Fund IV Multiplier Fund Multiplier Fund II Multiplier Fund III Multiplier Fund IV Balancer Fund Balancer Fund II Balancer Fund III Balancer Fund IV Pension Protector Fund Pension Protector Fund II Group Balanced Fund
7.04% 11.64% 7.04% 12.57% 7.04% 11.39% 7.04% 6.54% 6.54% 6.54% 6.54% 6.54% 6.54% 7.17% 7.17% NA NA NA NA NA NA NA NA NA
8.15% 10.58%
7.04% 11.64% 7.04% 12.49% 7.17% 7.17% 7.17% 7.17% 7.21% 7.21% 7.21% 7.21% 7.47% 7.47% 7.47% 5.94% 5.94% 6.74% NA NA NA NA NA NA NA NA 9.83% 9.63% NA 7.39% 8.24% 9.80%
8.15% 10.57% 8.15% 10.55%
6.63% 10.25% 6.63% 10.30%
7.47% 11.25%
NA indicates that the fund was non existent during relevant year
The Company maintains a balance of sovereign and corporate securities in its fixed income portfolio. About 95% of the corporate securities in the portfolio are of highest credit quality rating (AAA and equivalent) as on March 31, 2011. The Company has a well-diversified portfolio across issuers and industries within the corporate securities held. Similarly, the equity portfolio is also well-diversified and investments are primarily made in top 100 companies listed on the NSE (National Stock Exchange)/BSE (Bombay Stock Exchange), spread across issuers and industries. In view of the foregoing, the Company maintains high quality of assets at all points in time.
46

13. Payments made to parties in which Directors are interested The details of such payments for the year ended March 31, 2011 are given below: (` 000) Sr. No. 1 Name of Director Chanda Kochhar Entity in which Director is interested ICICI Bank Limited ICICI Prudential Asset Management Company Limited ICICI Lombard General Insurance Company Limited ICICI Securities Limited 2 Keki Dadiseth The Indian Hotels Company Limited Oliver Wyman Limited UK 3 4 5 Barry Stowe Marti G. Subrahmanyam Rama Bijapurkar ICICI Prudential Asset Management Company Limited Infosys Technologies Limited CRISIL Limited Mahindra Holidays & Resorts India Limited 6 K. Ramkumar ICICI Bank Limited ICICI Venture Funds Management Company Limited 7 N. S. Kannan ICICI Bank Limited ICICI Lombard General Insurance Company Limited ICICI Prudential Asset Management Company Limited 8 9 Rajiv Sabharwal Sridar Iyengar ICICI Bank Limited ICICI Bank Limited Infosys Technologies Limited Mahindra Holidays & Resorts India Limited Rediff.com India Limited 14. Management Responsibility Statement The Management confirms that: i. In the preparation of financial statements, the applicable accounting standards, principles and policies have been followed along with proper explanations relating to material departures, if any; ii. The management has adopted accounting policies and applied them consistently and made judgements and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year and of the operating profit and of the profit of the Company for the year; Interested as Managing Director & CEO Chairperson Chairperson Chairperson Director Member - Senior Advisory Board Director Director Director Director Executive Director Director Executive Director & CFO Director Director Executive Director Director Director Director Director Amount paid 2,327,586 320 106,052 300,716 1,268 73,067 320 7,594 187 194 2,327,586 19,721 2,327,586 106,052 320 2,327,586 8,196 2,327,586 7,594 194 3,027
ICICI Home Finance Company Limited Chairman
47
financial Report
iii. The management has taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the applicable provisions of the Insurance Act, 1938 and the Companies Act, 1956, for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities; iv. The management has prepared the financial statements on a going concern basis; v. The management has ensured that an internal audit system commensurate with the size and nature of the business exists and is operating effectively.
For & on behalf of the Board of Directors
____________________ Avijit Chatterjee Appointed Actuary
____________________ Chanda Kochhar Chairperson
____________________ Keki Dadiseth Director
____________________ Sandeep Bakhshi Managing Director & CEO
____________________ K. Ramkumar Director
Place: Mumbai Date: April 21, 2011
____________________ Puneet Nanda Executive Director
48
Corporate Governance
Corporate Governance
The corporate governance framework of the Company is based on an effective independent Board, the separation of Boards supervisory role from the executive management and the constitution of Board Committees, generally comprising a majority of independent/non-executive Directors and chaired by independent Directors, to oversee critical areas. Philosophy of Corporate Governance The Companys corporate governance philosophy encompasses not only regulatory and legal requirements but also several voluntary practices aimed at a high level of business ethics, effective supervision and enhancement of value for all stakeholders, legally, ethically and on a sustainable basis, while ensuring fairness. The Insurance Regulatory and Development Authority had issued Corporate Governance guidelines applicable to all insurance companies. The Guidelines have come into force effective April 1, 2010. The Company had taken necessary steps and put in appropriate processes to ensure compliance with the same. Whistle Blower Policy The Company has formulated a Whistle Blower Policy. In terms of this policy, employees of the Company are free to raise issues, if any, on breach of any law, statute or regulation by the Company and on the accounting policies and procedures adopted for any area or item and report them to the Board Audit Committee through specified channels. This mechanism has been communicated and posted on the Companys intranet. Code of Conduct for Personal Investments The Company has a Code of Conduct for personal investments. The objective of the Code is to prohibit insider trading in any manner by the Access Persons and to maintain confidentiality of unpublished price sensitive information and access to information on a need to know basis. The Code is applicable to all Access Persons and their Family Members as defined in this Code and forms a part of the code of conduct for such employees. Code of business conduct and ethics The Board of Directors has approved a Code of Business Conduct and Ethics for Directors and employees of the Company. The Code aims at ensuring consistent standards of conduct and ethical business practices across the constituents of the Company. This Code is also available on the website of the Company (www.iciciprulife.com). The Code lays down the broad framework of general guiding principles, covering mainly: l General employment conduct l Conflict of interest l Confidentiality of information l Compliance to laws, rules and regulations l Insider trading policy l Health, safety and environment l Whistle blowing policy l Prevention of workplace harassment policy l IT security policy Board of Directors The Company has a broad-based Board of Directors, constituted in compliance with the Companies Act, 1956 and in accordance with good corporate governance practices. The Board functions either as a full Board or through various Committees constituted to oversee specific operational areas. The Board has constituted six Committees, namely, Board Audit Committee, Board Customer Service & Policyholders Protection Committee, Board Investment Committee, Board Risk Management Committee, Board Compensation & Nominations Committee and Share Transfer Committee. These Board Committees mainly consist of independent/non-executive Directors and all the Committees are chaired by independent Directors.
49
financial Report
At March 31, 2011, the Board of Directors consisted of 14 members. There were five Meetings of the Board during FY2011 - on April 20, July 28, July 31 and October 20 in 2010 and January 20 in 2011. The names of the Directors and their attendance at Board Meetings during the year are set out in the following table: Number of Board Meetings Held: 5 Attended Ms. Chanda Kochhar, Chairperson (Nominee of ICICI Bank) Mr. N. S. Kannan, Director (Nominee of ICICI Bank) Mr. K. Ramkumar, Director (Nominee of ICICI Bank) Mr. Rajiv Sabharwal, Director (Nominee of ICICI Bank) (w.e.f. October 19, 2010) Mr. Barry Stowe, Director (Nominee of Prudential Corporation) Mr. Adrian OConnor, Director (Nominee of Prudential Corporation) Mr. Keki Dadiseth, Independent Director Prof. Marti G. Subrahmanyam, Independent Director Ms. Rama Bijapurkar, Independent Director Mr. Vinod Kumar Dhall, Independent Director Mr. Sridar Iyengar, Independent Director (w.e.f. October 20, 2010) Mr. Sandeep Bakhshi, Managing Director & CEO (w.e.f. August 1, 2010) Mr. V. Vaidyanathan, Managing Director & CEO (upto July 31, 2010) MMS - Finance, ICWA B. E (Hons.), CFA, PGDBM B. Sc, PGDPM B. Tech. (IIT Delhi), MBA (IIM-Lucknow) BA - Politics Fellow of the Institute of Actuaries and Fellow of Society of Actuaries B. Com, F.C.A (England and Wales) B.Tech. (IITM) P .G.Dip. (IIMA), Ph.D (MIT) B. Sc. (Hons) Physics, PGDBM Banking, Financial Services Banking, Financial Services Human Resources Management, Customer Service and Operations Banking, Financial Services Life Insurance, Fund Management Financial Management, Strategic Planning Finance Corporate Finance, Capital Markets and International Finance Market Strategy 5 5 4
Name of the Director
Qualification
Field of specialisation
1 3* 4* 2* 4* 4* 4* 1
LLB, M. Sc, Masters degree Corporate Affairs, Law in mathematics B. Com (Hons), FCA Finance, Accounts & Audit Corporate Banking, Insurance, Financial Services Financial Services, Retail Banking Insurance, Financial Services Banking, Financial Services
B.E (Mech), PGDM
MBA, AMP (HBS)
2 2 2
Mr. Puneet Nanda, Executive Director B.E, PGDM (w.e.f. August 1, 2010) Mr. Madhivanan Balakrishnan, Executive Director (w.e.f. August 1, 2010) Board Committees B. Sc (Chemistry), PGDM
* Also participated in one Meeting through teleconference The composition of the Board Committees and detailed terms of references are provided in the Directors Report. a) Board Audit Committee The Company has set up an Audit Committee which oversees the financial statements, financial reporting, statement of cash flow and disclosure processes both on an annual and quarterly basis. It has set-up procedures
50

and processes to attend to issues relating to maintenance of books of account, administration procedures, transactions and other matters having a bearing on the financial position of the Company, whether raised by the auditors or by any other person. The Audit Committee reviews the adequacy of internal audit function, if any, including the structure of the internal audit department, staffing and seniority of the official heading the department, reporting structure, coverage and frequency of internal audit. It also monitors the compliance function and the Companys risk profile in respect of compliance with external laws and regulations and internal policies, including the Companys code of ethics or conduct. The Audit Committee is responsible for the recommendation of the appointment, remuneration, performance and oversight of the work of the auditors (internal/ statutory/ concurrent). Attendance details for FY2011: Number of Meetings Name of the member Held: 5 Attended Mr. Keki Dadiseth Chairman Mr. K. Ramkumar Mr. Adrian OConnor b) Board Risk Management Committee In pursuit of development of a strong risk management system and mitigation strategies, the Company has set up a separate Risk Management Committee to lay down the Companys Risk Management Strategy. The Committee assists the Board in effective operation of the risk management system by performing specialised analyses and quality reviews. It maintains a group wide and aggregated view on the risk profile of the Company in addition to the solo and individual risk profile. The Committee also advises the Board with regard to risk management decisions in relation to strategic and operational maters. The Committee formulates and implements optimal Asset Liability Management (ALM) strategies, both at product level and enterprise level and meeting risk/reward objectives. It monitors risk exposures at periodic intervals and revise ALM strategies where required and places the ALM information before the Board at periodic intervals. Attendance details for FY2011: 5 4 4
Number of Meetings Name of the member Prof. Marti G. Subrahmanyam Chairman Ms. Rama Bijapurkar Mr. N. S. Kannan Mr. Adrian OConnor
c) Board Investment Committee The Company has set up an Investment Committee which is responsible for laying down an overall Investment Policy and operational framework for the investment operations of the Company. The Committee is responsible for a periodic review of the Investment Policy based on the performance of investments and the evaluation of dynamic market condition and also puts in place an effective reporting system to ensure compliance with the Policy. Itfurnishes a report to the Board on the performance of Investments on a periodic basis and provides analysis of its Investment portfolio and on the future outlook.
Held: 4 Attended 4 4 4 3
51
financial Report
Attendance details for FY2011: Number of Meetings Name of the member Prof. Marti G. Subrahmanyam Chairman Mr. N. S. Kannan Mr. Adrian OConnor Mr. Sandeep Bakhshi (w.e.f August 1, 2010) Mr. V. Vaidyanathan (upto July 31, 2010) Mr. Puneet Nanda Dr. Avijit Chatterjee Mr. Manish Kumar d) Board Compensation & Nominations Committee The Company has set up a Board Compensation & Nominations Committee which scrutinises the declarations of intending applicants before the appointment/reappointment/election of Directors by the shareholders at the General Meetings. The role of the Committee includes nominating the Directors on the Board and fixing their remuneration. It also approves executive compensation program. Attendance details for FY2011: Number of Meetings Name of the member Ms. Rama Bijapurkar Chairperson Prof. Marti G. Subrahmanyam Mr. Vinod Kumar Dhall Mr. K. Ramkumar Mr. Adrian OConnor Remuneration policy Held: 3 Attended 3 3 3 3 2 Held: 4 Attended 4 4 3 2 2 4 4 4
The Board Compensation and Nominations Committee determines and recommends to the Board the amount of remuneration, including performance bonus and perquisites, payable to the wholetime Directors on certain parameters. The following table sets out the details of remuneration (including perquisites and retrial benefits) paid to wholetime Directors for FY2011. Amount (in `) Mr. Sandeep Bakhshi Managing Director & CEO Mr. Puneet Nanda Executive Director Mr. Madhivanan Balakrishnan Executive Director Mr. V. Vaidyanathan Managing Director & CEO (from April 1, 2010 to July 31, 2010) 19,00,000 39,90,000 60,78,000 22,83,964 1,42,51,964
Details
(from August 1, 2010 (from August 1, 2010 (from August 1, 2010 to March 31, 2011) to March 31, 2011) to March 31, 2011) Basic Bonus Retirals (Provident fund + Gratuity) Allowances Total 53,04,000 6,36,480 28,74,602 88,15,082 33,68,002 4,04,162 33,90,434 71,62,598 33,68,000 4,04,160 36,00,084 73,72,244
52

Sitting fees paid to independent Directors during the financial year ended March 31, 2011: Name of the Director Mr. Keki Dadiseth Prof. Marti G. Subrahmanyam Ms. Rama Bijapurkar Mr. Vinod Kumar Dhall Mr. Sridar Iyengar Details of transactions with Non-Executive Directors: Name of the Director Mr. N. S. Kannan Nature of transaction Life Insurance Premium received Amount (in `) 60,000 Amount (in `) 140,000 300,000 220,000 220,000 20,000
e) Board Customer Service & Policyholders Protection Committee The Company has set up a Customer Service & Policyholders Protection Committee to address the various compliance issues relating to protection of the interests of policyholders, also relating to keeping the policyholders well informed of and educated about insurance products and complaint-handling procedures. The role of the Committee includes putting in place proper procedures and effective mechanism to address complaints and grievances of policyholders including misselling by intermediaries. It ensures adequacy of disclosure of material information to the policyholders and oversees the functions of the customer service council. It also provides the details of grievances at periodic intervals in such formats as may be prescribed by IRDA and provides details of insurance ombudsmen to the policyholders. Attendance details for FY2011: Name of the member Mr. Vinod Kumar Dhall Mr. K. Ramkumar Mr. Adrian OConnor f) Share Transfer Committee Number of Meetings Held: 4 Attended 4 1 3
The Company has set up a Share Transfer Committee for approval/rejection of transfer and transmission of shares in physical form, handling requests for split and consolidation of share certificates, issue of duplicate share certificates and any other activities which are incidental or ancillary thereto. During the year, no Meetings of the Committee were held. g) Grievance Redressal Committee Grievance Redressal Committee is formed as per the Redressal of Public Grievances, 1998 to provide effective grievance redressal to the policyholders. The Committee consists of two external members and three members from senior management team of the Company. Mr. R. Narayanan, an external member, chairs the Committee. As part of the Grievance Redressal mechanism, the GRC is set up as the final authority to address the policyholders grievances before approaching the Ombudsman office. Additionally, the Committee focuses on building and strengthening customer service orientation in the Company by initiating various measures including simplifying processes for improvement in customer service levels. The Committee holds quarterly review Meetings to discuss service updates, claims experiences, ongoing projects specifically targeted towards improvement of customer service and appropriate actions arising from discussions. The GRC carries out the following specific functions: a) Evaluate feedback on quality of customer service received from various quarters b) Ensure that the Company follows all regulatory requirements regarding customer service and actionables as suggested by the Customer Service & Policyholders Protection Committee (CS & PPC) c) Submit report on its performance to the CS & PPC on a quarterly basis.
The minutes of the GRC Meeting are put up at the Board Customer Service & Policyholders Protection Committee for information.
53
financial Report
General body Meetings
Details of the last three Annual General Meetings are given below: Financial Year ended March 31, 2008 March 31, 2009 March 31, 2010

Date May 28, 2008 June 12, 2009 September 9, 2010
Start time 3.00 p.m. 11.00 a.m. 11.30 a.m.
Venue
ICICI PruLife Towers, 1089 Appasaheb Marathe Marg, Prabhadevi, Mumbai 400 025.
The following special resolutions were passed by the members during the last three Annual General Meeting: Annual General Meeting held on June 12, 2009
l Appointment
of Mr. V. Vaidyanathan as the Managing Director & CEO of the Company for a period of five years effective May 1, 2009. l Supplementary Allowance payable to Ms. Shikha Sharma, Managing Director, Mr. N. S. Kannan, and Mr. Bhargav Dasgupta, Executive Directors. Annual General Meeting held on September 9, 2010 l Appointment of Mr. Sandeep Bakhshi as the Managing Director & CEO of the Company for a period of five years effective August 1, 2010. l Appointment of Mr. Puneet Nanda as the Executive Director of the Company for a period of five years effective August 1, 2010. l Appointment of Mr. Madhivanan Balakrishnan as the Executive Director of the Company for a period of five years effective August 1, 2010. Share Transfer System
The Companys investor services are handled by 3i Infotech Limited (3i Infotech). 3i Infotech is a SEBI registered Category I - Registrar to an Issue & Share Transfer (R&T) Agent. 3i Infotech is a global information technology Company providing technology solutions and in addition to R&T services provides software products, managed IT Services, application software development & maintenance, payment solutions, business intelligence, document imaging & digitisation, IT consulting and various transaction processing services. 3i Infotechs quality certifications include SEI CMMI Level 5 for software business, ISO 9001:2000 for BPO (including R&T) and ISO 27001:2005 for infrastructure services. Physical share transfer requests are processed and the share certificates are returned normally within a period of fifteen days from the date of receipt, if the documents are correct, valid and complete in all respects. The address of the Registrar and Transfer Agent of the Company is as follows. 3i Infotech Limited, International Infotech Park Tower 5, 3rd Floor, Vashi Railway Station Complex Vashi, Navi Mumbai 400 703, Maharashtra, India Tel No. : +91-22-6792 8000 Fax No. : +91-22-6792 8099 Certification for compliance of the Corporate Governance Guidelines
I, M. Sanaulla Khan, hereby certify that the Company has complied with the Corporate Governance guidelines for Insurance Companies as amended from time to time and nothing has been concealed or suppressed. Sd/M. Sanaulla Khan Company Secretary
54
Management Discussion and Analysis

Industry overview
he Indian life insurance sector has witnessed exponential growth over the last decade. While Indias favourable T demographics have helped enhance market penetration, growth has been driven by innovations in product offerings and distribution by insurance companies since the opening up of the sector in 2000. Amongst other factors, rapid expansion in the life sector coincided with a period of rising household savings, a growing middle class and a rising working population, all backed by strong economic growth. More importantly, there has been a paradigm shift and increasingly customers have been viewing life insurance solutions as a tool for protection and not so much as a tax saving mechanism. Additionally, increased levels of financial literacy have contributed to the growth of the Indian life insurance sector. Industry Structure and developments fter the liberalisation of the insurance industry, during the first phase of development, which lasted from A fiscal 2000 to fiscal 2005, there was an exponential rise in the sale of insurance products as these offered the dual benefits of protection and long term wealth creation and the industry recorded a CAGR of 24.2% in Retail New Business Weighted Premium1. This phase witnessed large scale expansion by companies to increase their footprint across the country in order to capitalise on the growth opportunities presented by the industry. This required regular capital infusion by promoters to support the growth trajectory. During the second phase i.e., fiscal 2005 to fiscal 2009, the industry witnessed a CAGR of 25.9% in Retail New Business Weighted Premium. In this phase, players largely focused on expanding their product offerings and building a robust multi-channel distribution network. The life insurance industry has now entered its third phase where companies have been focusing on providing a better value proposition to customers and enhancing operational efficiencies. The industry has been focusing on improving the productivity levels of its distribution network and improving persistency. The recent IRDA regulations have nudged the industry to have a sharper focus on providing a better value proposition to customers. Regulatory Developments during the year he regulations regarding unit linked products (ULIPs) and distribution of insurance products have made the life T insurance proposition more attractive for customers. On the products side, the regulatory changes put a cap on the overall charges that a customer would bear over the life of the policy. The product level changes also ensured increased levels of protection, premium paying term and lock-in period. There were also significant changes made with respect to linked pension products which necessitated a guaranteed return for the customer and mandated annuitisation on premature withdrawals in addition to the already mandated annuitisation on maturity. On the distribution front, the focus of the regulatory changes has been to enhance quality of sale thereby enabling customers to achieve their long term financial goals. iven the significant mix of ULIPs in the Indian insurance industry, these regulatory changes impacted the business G volumes as distributors were required to be re-skilled on the new suite of products. The regulatory changes came into effect from September 1, 2010. In the period prior to this, i.e. April to August 2010, the industry registered a YOY growth of 32% and for the period September 2010 to March 2011, the industry registered a YOY decline of 24% on a retail weighted premium basis. The de-growth for the industry on retail weighted basis for fiscal 2011 was 8.0% with a 1.0% growth on retail received premium and 15% growth on total received premium. Thus the overall inflow into the industry from new business was less impacted. Companys Strategy on key elements hile these regulatory changes were attractive for customers, they required companies to fine tune their strategy W including product mix, cost structures and distribution models. roduct strategy: The mix of business is important in that it will determine future levels of new business strain, P expense absorbency, profits and sensitivity to persistency risk. The company has put additional focus on a balanced mix of single premium and conventional products and reduced the proportion of regular premium ULIPs. Over the medium to long term, we expect unit linked products to remain the most significant product category.
1
Retail New Business Weighted Premium Received retail premium with a weight of 10% for single premium policies.
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financial Report
istribution strategy and mix: The Company has always believed in maintaining a robust multi-channel distribution D network to reach out to customers. This enabled us to provide multiple touch-points which customers could access at their convenience and preference. Equal proportions of our new business came from the Agency channel as well as other alternate channels including Banks, Corporate Agents, Brokers and our Proprietary Sales Force. The company also launched its online sales channel this fiscal. ocus on Efficiencies: The Company has been focussing on enhancing efficiencies for the last several years. This F fiscal the company laid additional focus on: l Enhancing employee & distribution channel productivity l Right-sizing infrastructure l Variablising spends l Consolidation of spends and centralised negotiation Persistency initiatives: As the surrender charges were restricted, persistency risk to the company increased. The company implemented various initiatives including incentivising the distribution network to encourage persistency by communicating the importance of Protection and benefits of Long Term Savings. Additionally, the company embarked on a proactive communication catering to the needs of various segments of customers. The key results of operations for this year have been: Private market leadership l Backed by one of the countrys largest distribution franchises (which includes over 175,000 agents, 5000+ distribution touch points, 50+ corporate tie-ups, an employee force of over 13,000 and a balanced distribution mix) and the agility of responding to the external environment, the company sustained its private market leadership in fiscal 2011. Growth in profits l The Company reported a Profit after tax of ` 8.08 billion in fiscal 2011 compared to ` 2.58 billion in fiscal 2010. Growth in premium income l The total premium income (net of re-insurance) increased from ` 164.76 billion for fiscal 2010 to ` 178.17 billion for fiscal 2011, a growth of 8.1%. l New business premiums grew from ` 63.34 billion for fiscal 2010 to ` 78.62 billion for fiscal 2011, a growth of 24.1% l Renewal premiums fell marginally by 1.7% from ` 101.95 billion for fiscal 2010 to ` 100.18 billion for fiscal 2011 l Annualised premium equivalent (APE1) decreased from ` 53.45billion for fiscal 2010 to ` 39.75 billion for fiscal 2011, a reduction of 25.6%. The lower APE is attributable to higher proportion of single premium products in the second half, which was a transition phase as the new regular premium products got gradually introduced. Growth in Assets under management l Assets under management grew from ` 573.19 billion at March 31, 2010 to ` 681.50 billion at March 31, 2011, a growth of 18.9%. Decline in expense ratios l Expense ratio declined from 19.5% in fiscal 2010 to 17.3% in fiscal 2011 (Expense ratio = all expenses (including commission) / (total premium income 90% of single premium). Expense ratio excluding commission has declined from 15.8% in fiscal 2010 to 13.8% in fiscal 2011. New business profits (NBP) stood at ` 7.13 billion for fiscal 2011 l New Business Profit (NBP) is a metric for the economic value of the new business written during the period and is measured as the present value of the expected profits (net of any initial strain) for the shareholders on account of new business sales on assumptions of the various parameters such as investment returns, inflation, mortality, persistency and expenses. NBP for fiscal 2011 stood at ` 7.13 billion with margin at 17.9% of the APEas compared to ` 10.15 billion of NBP with a margin of 19.0% for fiscal 2010.The reduction in NBP is on account of a reduction of 25.6% in APE from ` 53.45billion in fiscal 2010 to ` 39.75 billion in fiscal 2011 and a reduction in margin from 19.0% in fiscal 2010 to 17.9% in fiscal 2011. 1 Annualised Premium Equivalent Annualised premium for all policies issued during the year with a weight of 10% considered for single premium and group premium.
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Balanced product mix The company focused on building a balanced product mix, resulting in the mix as below: Percentage mix Non Linked Linked - Single premium Linked - Regular premium Total Focus on persistency The enhanced focus on persistency saw early trends improving as evidenced below: Persistency Ratio* 13th Month 25th Month 37th Month 49th Month 61th Month Fiscal 2010 72.7% 87.2% 37.3% 55.5% 72.4% Fiscal 2011 75.8% 88.7% 30.1% 46.3% 65.2% Annualised Premium Equivalent (APE) H1 2011 2% 0% 98% 100% H2 2011 39% 14% 47% 100%
The ratio is computed based on premiums on a reducing balance basis. The denominator includes only policies * paying premium at the beginning of the year. Financial statements he financial statements of the Company have been prepared and presented under the historical cost convention, on T the accrual basis of accounting, in accordance with accounting principles generally accepted in India, in compliance with the accounting standards (ÀS`) prescribed in the Companies (Accounting Standards) Rules, 2006, to the extent applicable, and in accordance with the provisions of the Insurance Act, 1938, Insurance Regulatory and Development Authority Act, 1999, and the regulations framed there-under, the Companies Act, 1956, to the extent applicable, various circulars issued by IRDA and the practices prevailing within the insurance industry in India. he management evaluates all recently issued or revised accounting pronouncements on an ongoing basis. T The estimates and assumptions used in the financial statements are based upon the managements evaluation of the relevant facts and circumstances as on the date of the financial statements. Such estimates and assumptions have been made on a prudent and reasonable basis, in order that the financial statements reflect in true and fair manner the form and substance of transactions, and reasonably present our state of affairs and financial position for the year. Analysis of Profit and Loss and Revenue Account
l The
statement below summarises the Companys Profit and Loss and Revenue accounts: (` In billion) Fiscal 2010 Fiscal 2011 178.17 63.37 (5.61) (21.82) (105.91) (98.95) (1.17) 8.08
Premium income (net of reinsurance) Income from investments Commission Operating expenses Benefits paid Change in valuation of liability in respect of life policies Taxes Surplus/(Deficit)
164.76 176.11 (6.03) (25.70) (72.10) (234.27) (0.20) 2.58
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a) Premium income The total premium income (net of reinsurance) increased from ` 164.76 billion for fiscal 2010 to ` 178.17 billion for fiscal 2011, a growth of 8.1%. Renewal premium reduced marginally by 1.7% from ` 101.95 billion for fiscal 2010 to ` 100.18 billion for fiscal 2011. New business premium increased from ` 63.34 billion for fiscal 2010 to ` 78.62 billion for fiscal 2011, a growth of 24.1%. Linked business constituted 77.4% of the total new business premium for the Company for fiscal 2011 compared to 95.9% for fiscal 2010. b) Investment income Details of income from investments are given in the table below: (` In billion) Particulars Interest, dividend and rent Profit /(loss) on sale of investments* (net) Unrealised gain/(loss) Total income/(loss) on investments Fiscal 2010 Linked 10.80 32.21 129.48 172.49 Non-linked 3.04 0.58 3.62 Total 13.84 32.79 129.48 176.11 15.44 62.88 (20.79) 57.54 Fiscal 2011 Linked Non-linked 4.50 1.34 5.84 Total 19.94 64.22 (20.79) 63.37
* includes appropriation/expropriation adjustment account
IRDA regulations on preparation of financial statements prescribe that the Revenue account must include income from investments earned from assets held under both linked and non-linked businesses. Income on investments under unit linked business though included as income in the revenue account is offset by a corresponding effect on the linked liabilities and does not impact the profit or loss for the period. The total income on investments (including the linked line of business) is analysed as follows: Interest, dividend, and rent During fiscal 2011 interest income, dividend and rent increased by over 44% due to higher interest income on account of increased interest rates along with increase in investment in debt securities during the year. The table below indicates average investments and average yield earned. (` In billion) Particulars Average interest earning assets Average yield Fiscal 2010 136.45 7.46% Fiscal 2011 184.28 7.79%
The average yields have increased in line with the increase in the yield of the 10 year government securities yield which increased from 7.82% as on March 31, 2010 to 7.99% as on March 31, 2011. Profit and Loss on sale on investments: Profits and losses are realised as the portfolio is realigned based on market conditions and expected relative attractiveness of securities and sectors going forward. Unrealised gain/(loss) Linked: Unrealised gains or losses result from pure marked-to-market valuation of assets held in the unit linked portfolio. The overall income/(loss) on investments held under the unit linked business for fiscal 2011 was lower than fiscal 2010 (` 57.54 billion and ` 172.49 billion for fiscal 2011 and fiscal 2010 respectively) primarily due to the unrealised gain on the linked portfolio in fiscal 2010, which arose on account of the sharp rise in the equity markets experienced in fiscal 2010. (Equity markets rose sharply in fiscal 2010 with the BSE Sensex increasing by 80.5% from 9,709 at March 31, 2009 to 17,528 at March 31, 2010.) We evaluate the long term performance for all our unit linked funds by tracking their performance against benchmark for all such funds that have been in existence for more than three years. The company is pleased to report that as on March 31, 2011 over 90% of the unit linked funds that have been outstanding for more than
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three years have outperformed their respective benchmarks. The performance of our top funds in each category of funds is detailed below: Retail life funds: since inception annual return for the period ended March 31, 2011
25.0%
23.2% 20.3%
20.0%
15.0%
11.5%
13.4%
10.0%
7.4% 6.0% 5.8% 6.8%
5.0%
0.0%
Preserver
Protector
Balancer
Maximiser
Benchmark
Fund
Fund name Preserver Fund Protector Fund Balancer Fund Maximiser Fund c) Expenses
Benchmark CRISIL Liquid Fund Index CRISIL Composite Bond Index 65% CRISIL Composite Bond Index + 35% BSE 100 BSE 100
Inception date May 17, 2004 April 02, 2002 April 02, 2002 November 15, 2001 (` In billion)
Particulars Commission expenses Non-commission expenses Total expenses
Fiscal 2010 6.03 25.70 31.73
Fiscal 2011 5.61 21.93 27.54
Growth (7.0%) (14.7%) (13.2%)
The Company has been focusing on cost control and we have witnessed continued significant reductions in expenses over the last couple of years. Total expenses have decreased by over ` 4 billion in fiscal 2011 as compared to fiscal 2010. Some of the key initiatives taken to control the expense ratio included: l Increased focus on enhancing efficiency and productivity l Rationalisation of excess infrastructure l Better vendor management through vendor consolidation and renegotiation of rate contracts l Control of discretionary expenses through internal policy intervention and expense MIS
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These initiatives have helped to bring about improvements in the expense ratios as is seen below:
25.0%
23.0%
20.0%
19.5% 17.3%
15.0%
Fiscal 2009
Fiscal 2010 Total expense ratio
Fiscal 2011
Total Expense ratio: All expenses (including commission) / (Total premium 90% of single premium) The total expenses are further analysed below. Commission expenses (` In billion) Particulars Total Commission Total Premium (net of reinsurance premium) Commission as a % of Premium Renewal premium as a % of Total premium Pension mix in new business premium Fiscal 2010 6.03 164.76 3.7% 62% 56% Fiscal 2011 5.61 178.17 3.1% 56% 46%
There is a reduction in commission by 7.0% as against the increase in premium by 8.1%. This is primarily on account of changes in product mix and the mix of new business and renewal premium. Non-commission expenses The total Non-commission expenses of the Company can be broken into the following: (` In billion) Particulars Employees remuneration and welfare benefits Administration support expenses Rents, rates and taxes Agents training, recruitment and incentives Communication expenses Advertisement and publicity Depreciation Legal and professional charges Repairs Others Total expenses excluding unit expense Unit expenses Total Fiscal 2010 9.36 3.19 2.05 1.94 1.11 0.84 0.60 0.79 0.66 5.16 23.40 2.30 25.70 Fiscal 2011 8.65 1.84 1.73 1.63 0.93 0.87 0.73 0.61 0.57 4.36 20.19 1.74 21.93 Growth (7.6%) (42.3%) (15.6%) (16.0%) (16.2%) 3.6% 21.7% (22.8%) (13.6%) (15.5%) (13.7%) (24.3%) (14.7%)
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Unit expenses mainly include service tax expenses incurred by unit linked funds on linked charges debited to funds which have a corresponding impact on the unit reserve. Hence they do not have an impact on the Profit and Loss account. d) Benefits paid A summary of benefits paid is provided below: (` In billion) Particulars Death Claims Maturity Claims Surrenders Survival Benefits Amount recovered from reinsurer Total Claims Death claim (non unit) per `1000 sum assured Fiscal 2010 2.53 0.64 68.34 0.88 (0.29) 72.10 0.75 Fiscal 2011 2.65 0.88 101.84 0.99 (0.45) 105.91 0.73
Benefits paid represent amounts paid to policyholders or their legal heirs, on occurrence of an insured event as per the terms of an insurance contract. Mortality claims continued to remain at expected levels reflecting the effectiveness of the new business underwriting process. A high level of surrender is one of the key challenges that the company and the industry faced in fiscal 2011. A combination of higher pool of policies eligible for surrender and a high surrender rate has resulted in surrender outgo increasing by 49.0% over fiscal 2010. The company has implemented various initiatives including incentivising the distribution network and changing sales management performance metrics to bring greater focus on persistency. Details of claims are as follows: Sr. Claim Experience No. 1 2 3 4 5 6 7 8 Claims O/S (Opening balance) Claims reported during the period Claims Settled during the period T & C Rejected Claims Repudiated during the period Claims reopened Claims Written Back Claims O/S (Closing balance) Death Claim 1,094 19,181 19,136 570 33 536 Maturity Claim 51 1,392 1,443 Survival Annuities/ Surrender Health Other Benefit Pension Claim Claim Benefits 24,868 24,868 11,649 11,649 5,617 3,122 3 448 437 14
781,730 15,491 760,831 14,187 26,516 3,736 426 18 282
In respect of mortality claims, the average time taken by the Company from the date of submission of the final requirement by the claimant to dispatch of claim payment for fiscal 2011 was 7 days. The outstanding mortality claims have reduced from 1,094 claims to 536 claims on account of the following initiative taken by the company:
l l l
Dedicated claims support helpline (ClaimCare) Priority to claimants at our branches Education campaigns on how to claim
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financial Report
Ageing of claims outstanding as at March 31, 2011: Claim Experience Claims outstanding at end of the period Less than 3 months 3 months to 6 months 6months to 1 year 1year and above Death Claim 536 354 84 19 79 Maturity Claim Surrender Claim 26,516 Health Claim 282 201 39 34 8 Other Benefits 14 5 5 1 3 (` In billion) Particulars Change in Non-linked reserves Participating Non Participating Change in Linked reserves Non unit reserves Unit reserve Total Fiscal 2010 4.42 1.49 0.48 228.55 234.46 Fiscal 2011 16.33 6.65 2.91 76.06 99.04
e) Change in valuation of liability in respect of life policies
This represents the change in actuarial liability set up in respect of policies in force and for policies in respect of which premium has been discontinued but a liability still exists. Reserves on both participating and non-participating policies are calculated using the gross premium method, using assumptions for interest, mortality, expense, inflation and, in the case of participating policies, future bonuses together with allowance for taxation and allocation of profits to shareholders. The assumptions are derived from analysis of actual experience, with allowance for prudent margins for adverse deviation. Unit liability has been taken as the value of the units standing to the credit of policyholders, using the Net Asset Value (NAV) prevailing at the valuation date. The adequacy of charges under unit linked policies to meet future expenses and claims in excess of the unit reserves has been tested and provision made as appropriate. Provision has also been made for the cost of guarantee under unit linked products that carry a guarantee. The units held in respect of lapsed policies are divided into a revival reserve, which contributes to liabilities, and a fund for future appropriation, which contributes to regulatory capital. Change in reserves charged to the revenue account is the difference between policy liabilities as on two balance sheet dates. Non-linked reserves for fiscal 2011 have increased due to the higher proportion of non-linked business written in the second half of the year. Change in unit reserves of ` 228.55 billion for fiscal 2010 included unrealised gain of ` 128.48 billion and ` 76.06 billion for fiscal 2011 included unrealised losses of ` 20.79 billion This does not have an impact on the profit as there is a corresponding effect in investment income. f) Taxes paid (` In billion) Particulars Deferred tax Fringe benefit tax Total Fiscal 2010 0.23 (0.03) 0.20 Fiscal 2011 1.17 1.17
The Company has created a deferred tax asset on eligible tax losses to the extent it is virtually certain of realisation. During the fiscal 2011, the Company has reported accounting profits and consequently the deferred tax assets created on eligible tax losses of earlier years has been partially utilised to the extent of such profits.
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l
Financial Condition The following table sets forth, on the dates indicated, the summarised balance sheet. (` In billion) Particulars Sources of Funds: Equity capital and reserves Policyholders Funds Funds for Future Appropriations Current liabilities and provisions Total Application of Funds: Investments Shareholders Policyholders Asset held to cover linked liabilities Fixed assets Deferred tax asset Current assets, loans and advances Debit balance in Profit and loss account Total 12.85 44.57 514.69 2.63 2.96 6.14 35.18 619.02 19.76 72.17 588.27 1.98 1.79 6.74 27.11 717.82 47.86 542.82 12.32 16.02 619.02 47.96 644.19 9.72 15.95 717.82 Fiscal 2010 Fiscal 2011
Sources of Funds a) Equity capital and reserves Equity capital The Companys issued and subscribed share capital comprises 1,428,461,149 equity shares of face value of ` 10 each. Of the above 99.83% equity shares is held by the Promoters and balance 0.17% equity shares is issued to employees under the Companys employee stock option plan. The table below summarises shareholding pattern: Shareholder Promoters ICICI Bank Limited Prudential Corporation Holdings Limited Others Total Reserves A summary of reserves and surplus is provided in the table below: (` In billion) Particulars Share premium Others Total Debit balance in profit and loss account Fiscal 2010 33.59 (0.01) 33.58 35.18 Fiscal 2011 33.61 0.07 33.67 27.11 At March 31, 2011 Number of % of Shares Holding 1,055,310,900 370,732,884 2,417,365 1,428,461,149 73.88 25.95 0.17 100.00
There has been no capital infusion during the year. The addition to the share premium is on account of shares issued under Employee stock option scheme.
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The Company is subject to the minimum solvency requirements (i.e. excess of value of assets over value of insurance liabilities) prescribed by IRDA. Despite no capital addition during the year; the solvency margin was 327% as against 290% in the previous year, as compared to the 150% that IRDA expects companies to hold. b) Policyholders funds A summary of policyholders funds is provided in the table below: (` In billion) Particulars Reserves Fair value change account Revaluation reserve Policy liabilities Provision for linked liabilities Total Fiscal 2010 2.49 0.67 35.90 503.76 542.82 Fiscal 2011 2.32 0.67 58.88 582.33 644.19
Fair value change account represents unrealised gain (net) on equity and mutual fund securities outstanding in non-linked policyholders investments as on the balance sheet date. Such marked to market of securities as on the reporting date is in line with requirements of Insurance Regulatory and Development Authority (Preparation of Financial Statements and Auditors report of Insurance companies) Regulations, 2002. Movement in fair value change account is a function of performance of the equity markets and the mix of equity and mutual funds in the portfolio. The Company has an investment property which was re-valued in fiscal 2011 based on a valuation made by an independent valuer and as per the requirements of Insurance Regulatory and Development Authority (Preparation of Financial Statements and Auditors report of Insurance companies) Regulations, 2002. The value of investment property is disclosed at revalued amount and the change in carrying amount is classified under Revaluation Reserve. The value of the investment property in accordance with the independent valuation is ` 0.85 billion (Historical cost: ` 0.19 billion). The Company on each Balance Sheet date assesses whether any impairment of Investment property has occurred. c) Funds for future appropriations (FFA) Summary of funds for future appropriations is provided in the table below: (` In billion) Particulars Funds for future appropriations Linked Funds for future appropriations Non linked Total Fiscal 2010 10.93 1.39 12.32 Fiscal 2011 5.94 3.79 9.72
Funds for future appropriations (FFA) Linked They represent amounts that are identified by the Appointed Actuary in respect of lapsed policies which are entitled to be revived but not likely to be revived. As per IRDA stipulations, no reserve is required to be held for such policies. However, since the revival period has not expired, the reserves released as above are required to be disclosed as a separate item under the head Funds for Future Appropriations in the Balance Sheet and corresponding entries are required to be made in the Revenue Account (Policyholders Account) under Appropriations. Such reserves are required to be held as an earmarked reserve until the expiry of the revival period, after which the same can be released in the P&L statement. Funds for future appropriations (FFA) Non linked The Insurance regulations require that the surplus under Policyholder funds can be transferred to the Shareholder funds only on the recommendation of the Appointed Actuary. Specifically under participating funds, such recommendation can only be made in relation to bonuses declared to policyholders. Any surplus in the Policyholder Funds (excluding the unit fund) that has not been recommended for distribution to the shareholders or policyholders is held as Funds for future appropriation (FFA) Non-linked.
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d) Current liabilities and Provisions Current liabilities A summary of Current liabilities is provided in the table below Particulars Sundry creditors Amount pertaining to policyholders Unclaimed amount of Policyholders Policyholders claims payable Unallocated premium Payable to agents (Agents balances) Taxes payable Reinsurance premium payable Other liabilities Total Fiscal 2010 5.75 1.63 0.39 2.62 0.42 0.28 0.17 4.46 15.72
(` In billion) Fiscal 2011 5.57 4.47 0.16 2.26 0.44 0.21 0.04 2.75 15.90
Sundry creditors represent amounts payable to various service providers towards goods and services availed by the Company along with the provision for the services availed/goods received but bills not received. The provision for expenses where bills are not received has resulted in increased sundry creditors during the year, which is mainly attributable to a spurt in business during the last quarter of fiscal 2011. In accordance with circular no. IRDA/F&I/CIR/CMP/174/11/2010 issued by IRDA on November 04, 2010, the agewise analysis of unclaimed amount of the policyholders is required to be disclosed under the following heads: a. Claims settled but not paid to the policyholders/insured due to any reasons except under litigation from the insured/policyholders. An amount of ` 0.04 million was outstanding as at March 31, 2011 (` 11.5 million as at March 31, 2010). b. Sum due to the insured/policyholders on maturity or otherwise. An amount of ` 3.16 billion was outstanding as at March 31, 2011 (` 1.04 billion as at March 31, 2010). c. Any excess collection of the premium / tax or any other charges which is refundable to the policyholders either as terms of conditions of the policy or as per law or as may be directed by the Authority but not refunded so far. An amount of ` 0.24 billion was outstanding as at March 31, 2011 (` 0.19 billion as at March 31, 2010). d. Cheques issued but not encashed by the policyholder / insured. An amount of ` 2.57 billion was outstanding as at March 31 2011 (` 3.97 billion as at March 31 2010). Unallocated premium mainly includes premium deposit received which is pending to be allocated on issuance of an insurance policy. It also includes an amount of ` 0.80 billion (previous year: ` 0.57 billion) as premium received in advance which will be recognised as premium income on the due date of the policy. It also includes amounts which need to be refunded back to the policyholders on freelook or cancellation of policy and are outstanding in the normal process of refund. Policyholders claims payable represent amounts payable to the policyholders for all claims viz. Death, Survival etc that are received by the Company and are outstanding due to pending investigation as a part of the normal claims process or are pending due to incomplete documentation from the policyholders. Agents balances represents amount payable to Advisors towards commission as on the balance sheet date. Amount outstanding is mainly attributable to business sourced during the last month of the financial year. Taxes payable represent tax deducted and payable under Income tax regulations, such taxes will be paid in due course within their due dates. Provisions A summary of provisions is provided in the table below: (` In billion) Particulars Provision for Service Tax un-utilised credit Provision for Leave Encashment and Gratuity Total Fiscal 2010 0.24 0.06 0.30 Fiscal 2011 0.05 0.05
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financial Report
The Company has created a provision for Service tax un-utilised credit for an amount equivalent to Service tax un-utilised credit shown under current assets, the rationale behind creating such provision comes from existing cenvat credit rules which do not require maintenance of separate register, as records maintained in financial accounts are accepted for the purpose of availing credit. Further, as per the provisions of Accounting Standard, Insurance Companies should carry forward excess credit only if it can determine with certainty that the balance would be utilised in near future. Companys liability towards leave encashment and gratuity is actuarially valued and is as per the requirements of revised Accounting Standard 15 on employee benefits and it also includes amounts provided as at March 31, 2011 for leave which can be encashed by the employees. Application of Funds a. Investments Our primary fund management objective is the safety of our investments and the stability of returns. The company ensures that the investment portfolio is adequately diversified and adheres to high standards of quality. A statement of investments is given below: (` In billion) Particulars Application of Funds: Investments Shareholders Policyholders Asset held to cover linked liabilities Total Fiscal 2010 Fiscal 2011
12.85 44.57 514.69 572.11
19.76 72.17 588.27 680.20
As indicated above, total investments grew by 19% from ` 572.11 billion as at March 31, 2010 to ` 680.20 billion as at March 31, 2011. 86% of total investment assets were held in unit linked funds as at March 31, 2011 as against 90% as at March 31, 2010. The shift can be attributed to a higher proportion of premium inflows in non-linked funds during fiscal 2011. Further, of the total assets held of ` 680.20 billion as at March 31, 2011, 64% of the assets were held as equity as against 66% at March 31, 2010. Our investment policy seeks to address the requirements of risk management relevant to individual lines of business as well as to address policyholders reasonable expectations. The company ensures compliance with Insurance Regulatory and Development Authority (Investments) (4th Amendment) Regulations, 2008, which focus on the safety of the policyholders money by having a well-diversified quality investment portfolio and transparency in terms of adequate disclosures about the portfolio. b. Fixed Assets A statement of movement of fixed assets is given below: (` In billion) Particulars Gross block Less: Accumulated depreciation Net block Add: Capital work in progress Net fixed assets Fiscal 2010 4.44 1.82 2.62 0.01 2.63 Fiscal 2011 4.38 2.41 1.97 0.01 1.98
There was no significant expansion carried out by Company during the year. During the year various initiatives were undertaken to control expenses, one of them being space rationalisation. This has resulted in the number of branches coming down to 1,404 from last year level of 1,918. The Company has provided for accelerated depreciation amounting to ` 0.32 billion during the year ended March 31, 2011. The same has been provided on account of leasehold improvements and furniture and fixtures pertaining to offices which are relocated / merged during the year ended March 31, 2011.
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c. Deferred tax asset The Company recorded deferred tax assets of ` 1.79 billion as of March 31, 2011 (as of March 31, 2010: ` 2.96 billion). Deferred tax assets represent timing differences in the financial and tax books arising from brought forward tax losses. Company assesses the likelihood that deferred tax assets will be recovered from future taxable income. Company believes it is more likely than not that the benefits of these deductible differences will realise. d. Current assets, loans and advances A summary of current assets, loans and advances is provided in the table below: (` In billion) Particulars Cash and bank balances Deposits Income accrued on investments Prepayments Outstanding premium Loans Other advances Total Fiscal 2010 3.05 1.01 0.91 0.27 0.25 0.12 0.54 6.14 Fiscal 2011 3.30 1.34 1.19 0.23 0.21 0.09 0.38 6.74
The cash and bank balances represent amounts collected during last few days of the financial year and they also include cheques on hand and cheques deposited but not cleared. Deposits represent deposits placed for premises taken on lease for setting up branches as well as for leased accommodations for employees. It also includes electricity deposits, telephone and other utility deposits. Increase in deposits placed as compared to previous year is mainly on account deposits placed with income tax authorities during the current year. Income accrued on investments is mainly on fixed deposits, Government securities and Debentures. Other advances mainly includes amount paid in advance for services to be received in future.
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financial Report
Auditors Report
To the Members of ICICI Prudential Life Insurance Company Limited 1 We have audited the attached Balance Sheet of ICICI Prudential Life Insurance Company Limited (the Company) as at March 31, 2011, the related Revenue Account, the Profit and Loss Account and the Receipts and Payments Account for the year ended on that date annexed thereto, which we have signed under reference to this report. These financial statements are the responsibility of the Companys management. Our responsibility is to express an opinion on these financial statements based on our audit. 2 We conducted our audit in accordance with auditing standards generally accepted in India. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. 3 We report that: (a) We have obtained all the information and explanations, which to the best of our knowledge and belief were necessary for the purposes of the audit and have found them to be satisfactory; (b) In our opinion and to the best of our information and according to the explanations given to us, proper books of account as required by law have been maintained by the Company, so far as appears from our examination of those books; (c) As the Companys financial accounting system is centralised, no returns for the purposes of our audit are prepared at the branches of the Company; (d) The Balance Sheet, the Revenue Account, the Profit and Loss Account and the Receipts and Payments Account referred to in this report are in agreement with the books of account; (e) The actuarial valuation of liabilities for life policies in force is the responsibility of the Companys Appointed Actuary (the Appointed Actuary). The actuarial valuation of these liabilities as at March 31, 2011 has been duly certified by the Appointed Actuary and in his opinion, the assumptions for such valuation are in accordance with the guidelines and norms issued by the Insurance Regulatory Development Authority (IRDA) (Authority) and the Actuarial Society of India in concurrence with the Authority. We have relied upon Appointed Actuarys certificate in this regard for forming our opinion on the financial statements of the Company; (f) On the basis of written representations received from the Directors of the Company, as on March 31, 2011 and taken on record by the Board of Directors, none of the Directors is disqualified as on March 31, 2011 from being appointed as a Director in terms of clause (g) of sub-section (1) of Section 274 of the Companies Act, 1956. 4 In our opinion and to the best of our information and according to the explanations given to us, we further report that: (a) The Investments have been valued in accordance with the provisions of the Insurance Act, 1938, the Insurance Regulatory Development Authority (Preparation of Financial Statements and Auditors Report of Insurance Companies) Regulations, 2002 (the Regulations) and orders / directions issued by IRDA in this regard; (b) The accounting policies selected by the Company are appropriate and are in compliance with the applicable Accounting Standards referred to in sub-section (3C) of section 211 of the Companies Act, 1956 and the Rules framed there under and with the accounting principles as prescribed in the Regulations and orders / directions issued by IRDA in this regard; (c) The Balance sheet, the Revenue Account, the Profit and Loss Account and the Receipts and Payments Accounts dealt with by this report comply with the Accounting Standards referred to in sub-section (3C) of section 211 of the Companies Act, 1956 and the Rules framed there under to the extent they are not inconsistent with the accounting principles prescribed in the Regulations and orders / directions issued by IRDA in this regard;
68

(d) The Balance Sheet, the Revenue Account, the Profit and Loss Account and the Receipts and Payments Account together with the notes thereon and attached thereto are prepared in accordance with the requirements of the Regulations, the Insurance Act, 1938, the Insurance Regulatory and Development Authority Act, 1999 and the Companies Act, 1956, to the extent applicable and in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India: i. in the case of the Balance Sheet, of the state of affairs of the Company as at March 31, 2011; ii. in the case of Revenue Account, of the net surplus for the year ended on that date; iii. in the case of Profit and Loss account, of the profit for the year ended on that date; and iv. in the case of the Receipts and Payments Account, of the receipts and payments for the year ended on that date. 5 Further, on the basis of our examination of books and records of the Company and according to the information and explanations given to us, we certify to the best of our knowledge and belief that: (a) We have reviewed the Management Report attached to the financial statements for the year ended March 31, 2011, and have found no apparent mistake or material inconsistencies with the financial statements; and (b) Based on management representations and compliance certificates noted by the Board Audit Committee, nothing has come to our attention which causes us to believe that the Company has not complied with the terms and conditions of registration stipulated by IRDA. For Walker, Chandiok & Co Chartered Accountants per Khushroo B. Panthaky Partner Membership No: F-42423 Mumbai, April 21, 2011 For B S R & Co. Chartered Accountants Akeel Master Partner Membership No: 046768 Mumbai, April 21, 2011
Auditors Certificate
In accordance with the information and explanations given to us and to the best of our knowledge and belief and based on our examination of the books of account and other records maintained by ICICI Prudential Life Insurance Company Limited (the Company) for the year ended March31,2011, we certify that: 1. We have verified the cash balances, to the extent considered necessary, and securities relating to the Companys loans and investments as at March31,2011, by actual inspection or on the basis of certificates / confirmations received from the Custodian appointed by the Company, as the case may be. As at March 31, 2011, the Company does not have reversions and life interests; 2. The Company is not a trustee of any trust; and
3. No part of the assets of the Policyholders Funds has been directly or indirectly applied in contravention to the provisions of the Insurance Act, 1938, relating to the application and investments of the Policyholders Funds. This certificate is issued to comply with Schedule C of the Insurance Regulatory and Development Authority (Preparation of Financial Statements and Auditors Report of Insurance Companies) Regulations 2002, (the Regulations) read with Regulation 3 of the Regulations and may not be suitable for any other purpose. For Walker, Chandiok & Co Chartered Accountants per Khushroo B. Panthaky Partner Membership No: F-42423 Mumbai, April 21, 2011 For B S R & Co. Chartered Accountants Akeel Master Partner Membership No: 046768 Mumbai, April 21, 2011
69
financial Report
Revenue Account
for the year ended March 31, 2011

FORM A-RA Name of the Insurer: ICICI PRUDENTIAL LIFE INSURANCE COMPANY LIMITED Registration number and date of registration with the IRDA : Regn. No. 105 dated 24.11.2000
Policyholders Account (Technical Account)

Particulars Premiums earned net (a) Premium (b) Reinsurance ceded Income from Investments (a) Interest, Dividend & Rent - Gross (b) Profit on sale/redemption of investments (c) Loss on sale/redemption of investments (d) Unrealised gain/(loss) (e) Appropriation / Expropriation Adjustment Account Other income: Contribution from the Shareholders' account Fees and charges Miscellaneous income Total (A) Commission Operating expenses related to Insurance business Provision for taxation (Fringe benefits tax) Total (B) Benefits paid (Net) Interim Bonus Paid Change in valuation of liability in respect of life policies Total (C) SURPLUS/ (DEFICIT) (D) =(A)-(B)-(C) Provision for taxation Tax credit / (charge) - Refer note 3.14 of schedule 16 SURPLUS/ (DEFICIT) AFTER TAX APPROPRIATIONS Transfer to Shareholders' account Balance being funds for future appropriations Total (D) FUNDS FOR FUTURE APPROPRIATION Opening Balance as at April 1, 2010 Add: Current year appropriations Balance Carried forward to Balance Sheet Significant Accounting Policies & Notes To Accounts DETAILS OF TOTAL SURPLUS (a) (b) (c) Interim bonuses paid Allocation of bonus to policyholders' Surplus shown in the Revenue Account 16 Par Life # 2,581 653,856 62,626 719,063 Par Pension # 2,969 193,309 31,877 228,155 932,996 (109,837) 823,159 459,604 17,073 476,677 6,451,308 (1,877,058) 4,574,250 4,480,257 (632,317) 3,847,940 72,937 (109,837) (36,900) 14,804 17,073 31,877 5,259,560 (1,877,058) 3,382,502 3,330,880 (632,317) 2,698,563 4 2 3 Schedule Par Life # Par Pension # Non Par Annuity Non Par 859,725 569,206 61,167 (30,592) 106,608 48 1,566,162 3,605 35,768 39,373 534,047 1,009,868 1,543,915 (17,126) 17,126 Health Linked Life Linked Pension 65,448,645 (257) 5,933,708 44,791,391 (23,394,923) (4,489,615) 154,701 886 14,345 88,458,881 1,751,092 7,900,160 9,651,252 26,748,632 49,360,434 76,109,066 2,698,563 2,698,563 Linked Health 1,570,863 (219,950) 52,755 176,870 (102,804) 4,245 2,194 151,947 48 831 1,636,999 107,427 601,286 708,713 86,236 866,460 952,696 (24,410) 24,410 Linked Group 11,466,184 (497) 2,687,188 2,623,263 (1,432,946) (560,056) 5,952 411,555 1,304 15,201,947 17,700 408,551 426,251 6,387,937 8,453,873 14,841,810 (66,114) 66,114
(` 000)
Total
7,840,920 (1,996) 1,605,801 1,794,343 (906,655) 39,671 2,040 10,374,124 494,407 1,050,628 1,545,035 760,086 2,581 8,003,796 8,766,463 62,626 (99,526) (36,900)
7,921,841 (47) 414,073 403,230 (203,395) 2,098 57 8,537,857 7,945 9,674 17,619 154,390 2,969 8,331,002 8,488,361 31,877 31,877
5,374,339 (292,719) 338,692 56,066 (28,955) 493,964 1,950 562 5,943,899 962,641 2,178,472 3,141,113 383,459 2,498,680 2,882,139 (79,353) 79,353
331,795 (79,560) 9,748 1,352 (676)
77,991,978 (41,502) 7,410,226 83,914,715 (43,470,976) (15,746,358) (327,611) 18,872 18,817
178,806,290 (636,528) 19,021,397 133,822,397 (69,571,922) (20,791,784) (164,764) 1,359,021 64,543 38,255 241,946,905 5,606,759 21,873,948 27,480,707 105,911,669 5,550 101,550,999 207,468,218 6,997,980 (921,938) 6,076,042
194,947 1,018 251 458,875 25,767 152,144 177,911 86,737 225,544 312,281 (31,317) 31,317
109,768,161 2,236,175 9,537,265 11,773,440 70,770,145 22,801,342 93,571,487 4,423,234 (1,040,732) 3,382,502
8,678,181 (2,602,139) 6,076,042
12,324,165 (2,602,139) 9,722,026
TOTAL SURPLUS
As required by Section 40-B(4) of the Insurance Act, 1938 we certify that all expenses of Management in respect of life insurance business in India incurred by the Company have been fully debited to the Policyholder's Revenue Account as expenses. Schedules referred to herein form an integral part of the Policyholders' Revenue Account. # During the year Par Group Life and Par Group Pension were merged with Par Life and Par Pension respectively for better presentation. As per our report of even date attached For Walker, Chandiok & Co Chartered Accountants Firm Registration No. 001076N Khushroo B. Panthaky Partner Membership No. F-42423 For B S R & Co. Chartered Accountants Firm Registration No. 101248W Akeel Master Partner Membership No. 046768 Avijit Chatterjee Appointed Actuary For and on behalf of the Board of Directors
Chanda Kochhar Chairperson
Keki Dadiseth Director
K. Ramkumar Director
Place : Mumbai Date : April 21, 2011
Sanaulla Khan Company Secretary
Sandeep Bakhshi Managing Director & CEO
Puneet Nanda Executive Director
70
Revenue Account

FORM A-RA Name of the Insurer: ICICI PRUDENTIAL LIFE INSURANCE COMPANY LIMITED Registration number and date of registration with the IRDA : Regn. No. 105 dated 24.11.2000
Policyholders Account (Technical Account)

Particulars Premiums earned net (a) Premium (b) Reinsurance ceded Income from Investments (a) Interest, Dividend & Rent - Gross (b) Profit on sale/redemption of investments (c) Loss on sale/redemption of investments (d) Unrealised gain/(loss) (e) Appropriation/Expropriation Adjustment Account Other income: Contribution from the Shareholders' account Fees and charges Miscellaneous income Tota (A) Commission Operating expenses related to Insurance business Provision for taxation (Fringe benefit tax) Total (B) Benefits paid (Net) Interim Bonus Paid Change in valuation of liability in respect of life policies Total (C) SURPLUS/(DEFICIT) (D) =(A)-(B)-(C) APPROPRIATIONS Transfer to Shareholders' account Balance being funds for future appropriations Total (D) FUNDS FOR FUTURE APPROPRIATION Opening Balance as at April 1, 2009 Add: Current year appropriations Balance Carried forward to Balance Sheet Significant Accounting Policies & Notes To Accounts 16 1,259,163 (326,167) 932,996 323,563 136,041 459,604 4,085,702 2,365,606 6,451,308 1,504,909 2,975,348 4,480,257 95,306 (326,167) (230,861) 30,049 136,041 166,090 29 29 374,286 374,286 101,592 101,592 7,224,912 2,365,606 9,590,518 2,975,348 2,975,348 4 2 3 Schdule Par Life # Par Pension # 441,137 (62) 323,711 29,336 (414) 1,916 11 795,635 8,249 15,005 (10) 23,244 177,131 42 429,128 606,301 166,090 Par Group Life # 22,500 1,278 433 (26) 346 24,531 136 136 24,395 24,395 Par Group Pension # 51,567 3,210 1,591 (26) 56,342 212 212 56,101 56,101 29 Non Par Annuity Non Par 839,225 520,611 202,657 (357) 3 1,562,139 356 5,938 (3) 6,291 495,864 958,392 1,454,256 101,592 Health Linked Life 72,945,645 (51,367) 5,881,258 26,229,335 (4,286,547) 82,944,216 (328,354) 19,129 7,536 183,360,851 2,876,168 11,010,235 (23,338) 13,863,065 55,262,417 104,644,851 159,907,268 9,590,518 Linked Pension 74,274,454 (229) 3,466,433 11,202,578 (1,767,923) 44,847,685 35,212 4,194,973 1,508 6,860 136,261,551 2,576,225 11,850,695 (5,549) 14,421,371 12,701,367 106,163,465 118,864,832 2,975,348 Linked Health 1,391,184 (149,408) 33,728 110,204 (6,270) 61,989 1,546 790,226 4 727 2,233,930 166,735 1,114,160 (336) 1,280,559 50,678 902,693 953,371 Linked Group 9,592,520 (374) 1,837,037 1,362,045 (280,741) 1,628,240 21,362 158,319 203 14,318,611 76 302,542 302,618 2,032,261 11,983,732 14,015,993
(` 000)
Total
3,619,912 (2,468) 1,225,161 97,056 (4,322) 30,968 340 4,966,647 209,180 486,211 (799) 694,592 597,605 425 3,904,886 4,502,916 (230,861)
1,620,135 (210,022) 313,428 80,353 (376) 2,315 427 1,806,260 114,457 612,990 (251) 727,196 638,599 66,179 704,778 374,286
489,262 (115,281) 10,597 2,699 111,106 1,303 204 499,890 78,232 293,409 (199) 371,442 143,981 (15,533) 128,448
165,287,541 (529,211) 13,616,452 39,318,287 (6,347,002) 129,482,130 (270,234) 5,254,970 57,143 16,311 345,886,387 6,029,678 25,691,533 (30,485) 31,690,726 72,099,903 467 229,118,289 301,218,659 12,977,002
7,826,174 5,150,828 12,977,002
7,173,337 5,150,828 12,324,165
Selected explanatory notes attached herewith form an integral part of the Revenue Account. DETAILS OF TOTAL SURPLUS (a) (b) (c) Interim bonuses paid Allocation of bonus to policyholders' Surplus shown in the Revenue Account Par Life # 425 857,326 (230,861) 626,890 Par Pension # 42 270,401 166,090 436,533 Par Group Life # 1,896 1,896 Par Group Pension # 4,534 29 4,563
TOTAL SURPLUS
As required by Section 40-B(4) of the Insurance Act, 1938 we certify that all expenses of Management in respect of life insurance business in India incurred by the Company have been fully debited to the Policyholders Revenue Account as expenses. Schedules referred to herein form an integral part of the Policyholders Revenue Account. # During the year Par Group Life and Par Group Pension were merged with Par Life and Par Pension respectively for better presentation. As per our report of even date attached For Walker, Chandiok & Co Chartered Accountants Firm Registration No. 001076N Khushroo B. Panthaky Partner Membership No. F-42423 For B S R & Co. Chartered Accountants Firm Registration No. 101248W Akeel Master Partner Membership No. 046768 Avijit Chatterjee Appointed Actuary For and on behalf of the Board of Directors
71
financial Report
Profit & Loss account

Form A-PL Name of the Insurer: Icici Prudential Life Insurance Company Limited Registration number and date of registration with the IRDA : Regn. No. 105 dated 24.11.2000
(` 000) Particulars ShareholdersAccount (Non-Technical Account) Amounts transferred from Policyholders' account - net (Technical account) Income from investments (a) Interest, Dividend & Rent - Gross (b) Profit on sale/redemption of investments (c) Loss on sale/redemption of investments Other income Total (A) Expenses other than those directly related to the insurance business Bad debts written-off Amounts transferred to Policyholders' account (Technical account) Provisions (other than taxation) (a) For diminition in value of investments (net) (b) Provision for doubtful debts Total (B) Profit/(Loss) before Tax (A-B) Provision for Taxation Tax credit/(charge) - Refer note 3.14 of schedule 16 Profit/(Loss) after Tax APPROPRIATIONS (a) (b) (c) (d) (e) Balance at the beginning of the year Interim dividends paid during the year Proposed final dividend Dividend distribution tax Transfer to reserves/other accounts (35,184,918) (27,108,690) 16 5.65 5.64 10.00 1.81 1.80 10.00 (37,764,603) (35,184,918) 3A Schedule March 31, 2011 7,319,160 928,768 135,283 (5,422) 8,377,789 52,752 52,752 8,325,037 (248,809) 8,076,228 March 31, 2010 2,571,204 223,290 94,047 (4,937) 2,883,604 78,309 78,309 2,805,295 (225,610) 2,579,685
Profit/(Loss) carried to Balance Sheet Significant Accounting Policies & Notes to Accounts Earnings per equity share (Refer note 3.25 of schedule 16) Basic earnings per equity share ` Diluted earnings per equity share ` Nominal value per equity share ` Schedules referred to herein form an integral part of the Shareholders Account.
As per our report of even date attached For Walker, Chandiok & Co Chartered Accountants Firm Registration No. 001076N Khushroo B. Panthaky Partner Membership No. F-42423 For B S R & Co. Chartered Accountants Firm Registration No. 101248W Akeel Master Partner Membership No. 046768 Avijit Chatterjee Appointed Actuary For and on behalf of the Board of Directors
72
Balance Sheet
as at March 31, 2011

Form A-BS Name of the Insurer: ICICI PRUDENTIAL LIFE INSURANCE COMPANY LIMITED Registration number and date of registration with the IRDA : Regn. No. 105 dated 24.11.2000
(` 000) Particulars SOURCES OF FUNDS SHAREHOLDERS FUNDS Share capital Share application money Employees stock option outstanding Reserve and surplus Fair Value Change Account - Net Sub - Total Borrowings POLICYHOLDERS FUNDS Fair Value Change Account - Net Revaluation reserve - Investment Property Policy liabilities Provision for linked liabilities Funds for discontinued polices (Refer note 3.31 of schedule 16) Sub - Total Funds for Future Appropriations Linked (Refer note 3.26 of schedule 16) Non linked Total APPLICATION OF FUNDS Investments Shareholders Policyholders Asset held to cover linked liabilities Loans Fixed assets Deferred tax asset (Refer note 3.14 of schedule 16) Current assets Cash and Bank balances Advances and Other assets Sub-Total (A) Current liabilities Provisions Sub-Total (B) Net Current Assets (C) = (A-B) Miscellaneous expenditure (to the extent not written-off or adjusted) Debit Balance in Profit & Loss Account (Shareholders' account) Total Significant Accounting Policies & Notes to Accounts 16 15 13 14 7 Schedule March 31, 2011 March 31, 2010
5 6
14,284,611 503 33,606,925 65,619 47,957,658 2,315,441 668,879 58,875,524 582,329,617 138 644,189,599 5,935,592 3,786,434 701,869,283
14,281,429 1,067 897 33,588,365 (9,604) 47,862,154 2,493,446 668,879 35,893,280 503,761,001 542,816,606 10,931,565 1,392,600 603,002,925
8 8A 8B 9 10
19,764,653 72,171,914 588,265,347 86,945 1,982,628 1,784,417 3,303,199 3,347,252 6,650,451 15,896,702 49,060 15,945,762 (9,295,311) 27,108,690 701,869,283
12,850,338 44,565,701 514,692,566 116,048 2,634,004 2,955,164 3,054,023 2,966,016 6,020,039 15,717,018 298,835 16,015,853 (9,995,814) 35,184,918 603,002,925
11 12
Schedules referred to herein form an integral part of the Balance Sheet.

73
financial Report
Schedules
SCHEDULE 1
PREMIUM
Forming Part of Financial Statements

For the Year ended March 31, 2011
Particulars First year premiums Renewal premiums Single premiums Total Premium Premium Income from business written : In India Total Premium Par Life # 4,500,159 3,340,761 7,840,920 Par Pension # 7,502,509 419,332 7,921,841 Non Par 3,078,068 508,071 1,788,200 5,374,339 Annuity Non Par 859,725 859,725 Health 64,386 267,409 331,795 Linked Life 11,371,806 47,913,351 18,706,821 77,991,978 Linked Pension 18,432,055 46,676,821 339,769 65,448,645 Linked Health 511,715 1,059,148 1,570,863 Linked Group 11,466,184 11,466,184
(` 000)
Total 56,926,882 100,184,893 21,694,515 178,806,290
7,840,920 7,840,920
7,921,841 7,921,841
5,374,339 5,374,339
859,725 859,725
331,795 331,795
77,991,978 77,991,978
65,448,645 65,448,645
1,570,863 1,570,863
11,466,184 11,466,184
178,806,290 178,806,290

Particulars First year premiums Renewal premiums Single premiums Total Premium Premium Income from business written : In India Total Premium Par Life # 418,352 3,201,560 3,619,912 Par Pension # 2,115 439,022 441,137 Par Group Life # 22,500 22,500 Par Group Pension # 51,567 51,567 Non Par 324,317 511,634 784,184 1,620,135 Annuity Non Par 839,225 839,225 Health 160,678 328,584 489,262 Linked Life 15,011,190 57,213,261 721,194 72,945,645 Linked Pension 33,850,714 40,013,407 410,333 74,274,454 Linked Health 1,150,342 240,842 1,391,184 Linked Group 9,592,520 9,592,520
(` 000)
Total 60,584,295 101,948,310 2,754,936 165,287,541
3,619,912 3,619,912
441,137 441,137
22,500 22,500
51,567 51,567
1,620,135 1,620,135
839,225 839,225
489,262 489,262
72,945,645 72,945,645
74,274,454 74,274,454
1,391,184 1,391,184
9,592,520 9,592,520
165,287,541 165,287,541
# During the year Par Group Life and Par Group Pension were merged with Par Life and Par Pension respectively for better presentation.
SCHEDULE 2
COMMISSION EXPENSES For the Year ended March 31, 2011
Particulars Commission * Direct Total Add: Commission on re-insurance accepted Less: Commission on re-insurance ceded Net Commission Break-up of the expenses (Gross) incurred to procure business Tied Agency Corporate Agency Brokers Referral Total Commission * Commission includes referral payments. 380,562 89,517 21,568 2,760 494,407 6,095 1,647 52 151 7,945 748,170 167,252 41,397 5,822 962,641 425 3,120 60 3,605 18,233 6,487 738 309 25,767 1,083,565 875,074 220,583 56,953 2,236,175 909,264 629,195 178,486 34,147 1,751,092 91,677 9,523 3,203 3,024 107,427 12,716 4,984 17,700 3,250,707 1,786,799 466,087 103,166 5,606,759 First year premiums Renewal premiums Single premiums 397,102 97,305 494,407 494,407 419 7,526 7,945 7,945 945,700 16,319 622 962,641 962,641 3,605 3,605 3,605 17,155 8,612 25,767 25,767 1,183,903 704,074 348,198 2,236,175 2,236,175 1,195,778 555,105 209 1,751,092 1,751,092 72,250 35,177 107,427 107,427 17,700 17,700 17,700 3,830,007 1,424,118 352,634 5,606,759 5,606,759 Par Life # Par Pension # Non Par Annuity Non Par Health Linked Life Linked Pension Linked Health Linked Group
(` 000)
Total
74

SCHEDULE 2
COMMISSION EXPENSES (Contd.) For the Year ended March 31, 2010
Particulars Commission * Direct Total Add: Commission on re-insurance accepted Less: Commission on re-insurance ceded Net Commission Break-up of the expenses (Gross) incurred to procure business Tied Agency Corporate Agency Brokers Referral Total Commission * Commission includes referral payments. # During the year Par Group Life and Par Group Pension were merged with Par Life and Par Pension respectively for better presentation. 154,724 38,397 11,517 4,542 209,180 6,304 1,632 15 298 8,249 79,906 17,738 1,829 14,984 114,457 66 170 63 57 356 37,441 10,093 1,756 28,942 78,232 1,427,503 1,047,321 263,203 138,141 2,876,168 1,303,055 954,422 204,651 114,097 2,576,225 128,238 17,582 5,266 15,649 166,735 76 76 3,137,313 2,087,355 488,300 316,710 6,029,678 First year premiums Renewal premiums Single premiums 114,088 95,092 209,180 209,180 133 8,116 8,249 8,249 95,282 18,921 254 114,457 114,457 356 356 356 63,876 14,356 78,232 78,232 1,863,138 1,006,705 6,325 2,876,168 2,876,168 2,135,776 433,854 6,595 2,576,225 2,576,225 158,154 8,581 166,735 166,735 76 76 76 4,430,523 1,585,625 13,530 6,029,678 6,029,678 Par Life # Par Pension # Par Group Life # Par Group Pension # Non Par Annuity Non Par Health Linked Life Linked Pension Linked Health Linked Group
(` 000)
Total
SCHEDULE 3
OPERATING EXPENSES RELATED TO INSURANCE BUSINESS For the Year ended March 31, 2011
Particulars Employees remuneration and welfare benefits Travel, conveyance and vehicle running expenses Rents, rates and taxes Repairs Printing and stationery Communication expenses Legal and professional charges Medical fees Auditors fees : (a) as auditor 1,387 30 42,592 9,924 80,482 35,264 29,469 85,999 23,533 18,107 16,811 1,050,628 26 1 203 57 362 156 832 382 105 411 388 9,674 1,252 27 152,532 6,438 197,161 99,720 36,063 127,350 69,858 20,485 84,807 2,178,472 1,327 1,467 2,051 1,946 192 750 1,160 100 735 35,768 4 126 3 1,976 384 2,820 8,580 2,920 2,654 5,825 2,728 10,272 152,144 4,867 104 434,646 100,028 622,525 325,443 127,384 544,239 225,349 119,942 836,142 326,771 9,537,265 2,970 64 217,845 76,846 699,216 216,655 67,121 1,066,070 134,984 80,810 732,923 14,858 7,900,160 237 5 17,938 2,946 26,232 35,893 5,735 17,188 22,121 4,782 61,803 15,699 601,286 733 44,877 2,847 5 1,908 256 110,722 116,381 408,551 10,869 234 869,792 242,967 1,630,849 726,504 269,721 1,844,632 484,843 247,621 1,741,590 586,722 21,873,948 Par Life # 433,766 26,536 65,018 27,866 44,329 55,988 43,406 10,121 Par Pension # 3,691 336 442 125 408 811 892 46 Non Par 877,749 57,234 200,875 91,820 49,956 35,345 48,511 21,289 Annuity Non Par 17,962 734 4,532 1,303 767 541 179 18 Health 66,219 2,768 19,419 5,961 1,300 13,450 2,646 2,093 Linked Life 3,794,692 170,505 811,740 269,872 81,932 484,088 225,659 31,337 Linked Pension 3,150,990 130,692 534,689 146,650 23,160 318,218 279,731 5,668 Linked Health 222,515 12,446 83,449 28,261 2,885 23,931 8,952 8,268 Linked Group 72,506 16,207 7,225 2,012 29,459 1,200 2,213
(` 000)
Total 8,640,090 417,458 1,727,389 573,870 234,196 933,572 612,189 78,840
(b) as advisor or in any other capacity, in respect of Taxation matters (c) others
Advertisement and publicity Interest and bank charges Agents training, recruitment and incentives Depreciation Information technology cost Administration support expenses Office running expenses Data entry related expenses Unit fund expenses Others Total
75
financial Report
SCHEDULE 3
OPERATING EXPENSES RELATED TO INSURANCE BUSINESS (Contd.) For the Year ended March 31, 2010
Particulars Employees remuneration and welfare benefits Travel, conveyance and vehicle running expenses Rents, rates and taxes Repairs Printing and stationery Communication expenses Legal and professional charges Medical fees Auditors fees : (a) as auditor 423 13 15 5,919 6,799 22,534 12,938 14,831 36,004 13,259 14,732 11,325 486,211 16 1 2 29 900 53 97 888 109 275 798 318 15,005 136 212 476 7 9 9,404 3,355 15,754 14,947 15,310 69,465 15,340 16,000 34,541 612,990 2 38 3,163 45 29 56 120 38 68 151 5,938 228 4 5 3,521 892 6,850 6,639 7,824 13,630 6,957 7,725 17,720 293,409 4,378 119 137 302,835 132,107 599,138 290,629 152,726 1,147,489 303,143 166,618 1,332,828 281,997 11,010,235 2,279 74 85 495,432 124,470 1,244,874 241,547 72,076 1,783,381 163,272 106,228 854,206 242,513 11,850,695 333 4 4 20,890 2,909 48,593 25,697 9,299 84,452 22,746 10,904 67,976 19,932 1,114,160 574 18,626 3,855 4,364 58,693 1,301 1,588 (6,108) 25,686 302,542 8,135 222 257 838,642 293,221 1,941,696 596,887 273,010 3,193,343 526,331 324,661 2,248,902 634,183 25,691,533 Par Life # 194,203 9,173 42,757 16,260 12,083 46,251 23,384 3,308 Par Pension # 5,304 264 28 341 713 3,370 1,464 35 Par Group Life # 133 1 2 Par Group Pension # 212 Non Par 235,619 12,507 55,039 18,324 21,477 44,073 16,631 14,712 Annuity Non Par 1,381 49 108 45 49 91 505 Health 137,206 6,597 24,917 8,472 6,782 24,151 9,236 4,053 Linked Life 3,444,726 176,772 1,227,526 348,939 125,642 601,059 325,389 46,038 Linked Pension 4,620,701 267,016 598,675 231,559 61,447 347,186 388,549 5,125 Linked Health 566,227 26,992 93,224 28,518 8,793 36,662 19,819 20,186 Linked Group 71,638 12,817 8,303 2,554 90,806 2,345 5,500
(` 000)
Total 9,277,350 512,187 2,050,578 655,012 327,792 1,105,190 790,477 93,457
(b) as advisor or in any other capacity, in respect of Taxation matters (c) others
Advertisement and publicity Interest and bank charges Agents training, recruitment and incentives Depreciation Information technology cost Administration support expenses Office running expenses Data entry related expenses Unit fund expenses Others Total
SCHEDULE 3A
EXPENSES OTHER THAN THOSE DIRECTLY RELATED TO THE INSURANCE BUSINESS
Particulars Employees remuneration and welfare benefits Travel, conveyance and vehicle running expenses Legal and professional charges Loss on sale/write off of Fixed Assets (Net) Printing and stationery Communication expenses Interest and bank charges Depreciation Others Total March 31, 2011 5,316 177 45,597 44 61 1,491 5 61 52,752
(` 000)
March 31, 2010 77,714 9 109 7 333 1 136 78,309
76

SCHEDULE 4
BENEFITS PAID [NET] For the Year ended March 31, 2011
Particulars 1. Insurance claims (a) (b) (c) (d) Claims by death Claims by maturity Annuities/Pension payment Other benefits Surrender Survival Rider Health 178,940 475,146 13,536 767,970 83,963 906 154,390 92,593 3,075 14,181 595,347 534,047 214,740 216,391 69,501,301 72,045 70,770,145 25,944,126 10,488 26,748,632 186,852 188,720 6,041,825 6,387,937 101,842,748 475,146 100,050 415,773 106,363,579 86,271 14,077 11,216 58,305 470,362 15,136 15,592 518,455 1,651 965,101 231,698 756,403 37,615 1,868 346,112 2,654,576 356,831 518,455 Par Life # Par Pension # Non Par Annuity Non Par Health Linked Life Linked Pension Linked Health Linked Group
(` 000)
Total
Sub Total (A) 2. Amount ceded in reinsurance (a) (b) (c) (d) Claims by death Claims by maturity Annuities/Pension payment Other benefits Surrender Survival Rider Health
(7,884) (7,884) 760,086 767,970 767,970
154,390 154,390 154,390
(210,622) (1,266) (211,888) 383,459 595,347 595,347
534,047 534,047 534,047
(129,654) (129,654) 86,737 216,391 216,391
70,770,145 70,770,145 70,770,145
26,748,632 26,748,632 26,748,632
(102,484) (102,484) 86,236 188,720 188,720
6,387,937 6,387,937 6,387,937
(218,506) (233,404) (451,910) 105,911,669 106,363,579 106,363,579
Sub Total (B) Total (A) + (B) Benefits paid to claimants: In India Total

Particulars 1. Insurance claims (a) (b) (c) (d) Claims by death Claims by maturity Annuities/Pension payment Other benefits Surrender Survival Rider Health 137,823 381,917 14,095 597,605 98,680 663 177,131 63,770 9,729 68,059 170,396 30,910 33,447 784,145 495,864 262,459 262,459 53,884,408 78,863 55,267,558 12,062,222 7,803 12,701,367 645 75,407 76,291 1,984,548 2,031,661 467,399 81,993 10,563 485,301 1,304,287 631,342 239 47,113 Par Life # Par Pension # Par Group Life # Par Group Pension # Non Par Annuity Non Par Health Linked Life Linked Pension Linked Health Linked Group
(` 000)
Total
2,534,442 150,052 485,301 68,338,077 381,917 132,979 371,313 72,394,081
Sub Total (A) 2. Amount ceded in reinsurance (a) (b) (c) (d) Claims by death Claims by maturity Annuities/Pension payment Other benefits Surrender Survival Rider Health
597,605 597,605 597,605
177,131 177,131 177,131
(145,546) (145,546) 638,599 784,145 784,145
495,864 495,864 495,864
(118,478) (118,478) 143,981 262,459 262,459
(5,141) (5,141) 55,262,417 55,267,558 55,267,558
12,701,367 12,701,367 12,701,367
(25,613) (25,613) 50,678 76,291 76,291
600 600 2,032,261 2,031,661 2,031,661
(150,087) (144,091) (294,178) 72,099,903 72,394,081 72,394,081
77
financial Report
SCHEDULE 5
SHARE CAPITAL Particulars Authorised capital Equity shares of ` 10 each Issued, subscribed and called up capital Equity shares of ` 10 each fully paid up Total 14,284,611 14,284,611 14,281,429 14,281,429 15,000,000 15,000,000 March 31, 2011 (` 000) March 31, 2010
Of the total share capital, 1,055,310,900 shares (Previous Year: 1,055,310,900) of ` 10 each are held by the holding company, ICICI Bank Limited.
SCHEDULE 5A
PATTERN OF SHAREHOLDING [As certified by the Management] Shareholder Promoters Indian (ICICI Bank Limited) Foreign (Prudential Corporation Holdings Limited) Others Total 1,055,310,900 370,732,884 2,417,365 1,428,461,149 73.88 25.95 0.17 100.00 1,055,310,900 370,732,884 2,099,099 1,428,142,883 73.89 25.96 0.15 100 .00 March 31, 2011 Number of Shares % of Holding March 31, 2010 Number of Shares % of Holding
SCHEDULE 6
RESERVES AND SURPLUS Particulars Capital reserves Capital redemption reserve Share premium Revaluation reserve General reserves Less: Debit balance in Profit and Loss Account, if any Less: Amount utilised for buy-back Catastrophe reserve Other reserves Balance of profit in Profit and Loss Account Total March 31, 2011 33,606,925 33,606,925 (` 000) March 31, 2010 33,588,365 33,588,365
SCHEDULE 7
BORROWINGS Particulars Debentures/Bonds Banks Financial Institutions Others Total March 31, 2011 (` 000) March 31, 2010
78

SCHEDULE - 8
INVESTMENTS - SHAREHOLDERS
Particulars LONG TERM INVESTMENT Government Securities* (Market value of current year : ` 1,880,829 thousands) (Market value of previous year : ` 1,004,652 thousands) Other Approved Securities (Market value of current year : ` 910,848 thousands) (Market value of previous year : ` 416,810 thousands) Other Approved Investments Equity (Historic value of current year : ` 1,637,042 thousands) (Historic value of previous year : ` 100,000 thousands) Debentures/Bonds (Market value of current year : ` 762,790 thousands) (Market value of previous year : ` 101,231 thousands) Investments in subsidiary (Market value of current year : ` 110,000 thousands) (Market value of previous year : ` 110,000 thousands) CCIL Deposit (Market value of current year : ` 59,296 thousands) (Market value of previous year : ` 59,296 thousands) Fixed Deposits (Market value of current year : ` 500,000 thousands) (Market value of previous year : ` Nil) Investments in infrastructure/housing/social sector Debentures/ Bonds (Market value of current year : ` 1,263,612 thousands) (Market value of previous year : ` 731,234 thousands) Equity (Historic value of current year : ` 160,297 thousands) (Historic value of previous year : ` Nil) Other Investments Equity (Historic value of current year : ` 140,224 thousands) (Historic value of previous year : ` Nil) SHORT TERM INVESTMENT Government Securities (Market value of current year : ` 5,229,722 thousands) (Market value of previous year : ` 6,798,283 thousands) Other Approved Securities (Market value of current year : ` 712,929 thousands) (Market value of previous year : ` 206,972 thousands) Other Approved Investments Debentures/Bonds (Market value of current year : ` 204,173 thousands) (Market value of previous year : ` Nil) Fixed Deposits (Market value of current year : ` 454,295 thousands) (Market value of previous year : ` 53,357 thousands) Certificate of Deposits (Market value of current year : ` 2,679,536 thousands) (Market value of previous year : ` 2,468,645 thousands) Commercial Paper (Market value of current year : ` Nil) (Market value of previous year : ` 499,347 thousands) CBLO (Market value of current year : ` 117,818 thousands) (Market value of previous year : ` 299,845 thousands) Mutual Fund (Historical value of current year : ` 468,436 thousands) (Historical value of previous year : ` 829 thousands) Investments in Infrastructure/Housing/Social Sector Debentures/Bonds (Market value of current year : ` 1,522,642 thousands) (Market value of previous year : ` 24,987 thousands) Commercial Papers (Market value of current year : ` 821,386 thousands) (Market value of previous year : ` Nil) Total In India Total * Includes ` 100,847 thousand (Market value: ` 100,444 thousands) of securities under section 7 of Insurance Act, 1938. [Previous year : ` 102,068 thousand (Market value: ` 102,809 thousands)] - Refer 3.9 of Schedule 16 1,895,382 1,001,347 March 31, 2011
(` 000)
March 31, 2010
920,687
413,054
1,690,232
90,396
766,183
100,522
110,000
110,000
59,296
59,296
500,000
1,287,356 167,302
725,341
145,650
5,229,721
6,798,057
713,629
205,249
202,934 454,295
53,357
2,679,536
2,468,645
499,347
117,818
299,845
468,436
829
1,534,810
25,053
821,386
19,764,653 19,764,653 19,764,653
12,850,338 12,850,338 12,850,338
79
financial Report
SCHEDULE 8A
INVESTMENTS - POLICYHOLDERS
March 31, 2011 Particulars Par Life Par Pension Non Par Annuity Non Par Health Linked Life Linked Pension Linked Health Linked Group Total
(` 000)
LONG TERM INVESTMENT Government Securities (Market value : ` 22,125,128 thousands) Other Approved Securities (Market value : ` 5,871,883 thousands) Other Approved Investments Equity (Historical value : ` 1,769,753 thousands) Debentures/ Bonds (Market value : ` 4,280,018 thousands) Property (Historical value : ` 185,521 thousands) CCIL Deposit (Market value : ` 140,805 thousands) Fixed Deposits (Market value : ` 4,279,000 thousands) Investments in Infrastructure/Housing/Social Sector Equity (Historical value : ` 95,102 thousands) Debentures/ Bonds (Market value : ` 8,844,471 thousands) Other Investments Equity (Historical value : ` 147,133 thousands) Debentures/ Bonds (Market value : ` 174,010 thousands) Venture Fund (Market value : ` 674,060 thousands) SHORT TERM INVESTMENT Government Securities (Market value : ` 7,104,809 thousands) Other Approved Securities (Market value : ` 1,489,022 thousands) Other Approved Investments Debentures/ Bonds (Market value : ` 99,556 thousands) Fixed Deposits (Market value : ` 2,520,393 thousands) Certificate of Deposits (Market value : ` 5,980,546 thousands) CBLO (Market value : ` 1,063,394 thousands) Mutual Fund (Historical value : ` 274,268 thousands) Investments in Infrastructure/Housing/Social Sector Debentures/Bonds (Market value : ` 1,042,102 thousands) Commercial Paper (Market value : ` 63,711 thousands) Total In India Total 29,331,201 29,331,201 29,331,201 13,879,971 13,879,971 13,879,971 6,230,084 6,230,084 6,230,084 7,524,309 7,524,309 7,524,309 129,341 129,341 129,341 9,216,706 9,216,706 9,216,706 4,535,894 4,535,894 4,535,894 116,252 116,252 116,252 1,208,156 1,208,156 1,208,156 72,171,914 72,171,914 72,171,914 50,346 13,365 63,711 127,898 22,364 234,059 397,011 225,480 43,449 1,050,261 54,778 33,828 39,938 13,703 96,983 426 34,612 274,268 332,543 191,589 309,595 109,061 99,912 20,693 1,063,393 1,438,600 1,641,878 338,829 1,484,683 691,983 2,433 382,140 5,980,546 405,000 1,315,393 250,000 228,101 258,785 63,113 2,520,392 48,700 4,000 38,200 7,200 1,900 100,000 83,942 19,905 945,902 317,169 13,612 112,664 1,493,194 1,146,139 2,649,510 692,438 1,510,918 797,447 9,003 299,343 7,104,798 671,551 671,551 123,738 50,000 173,738 260,684 16,525 277,209 3,764,279 1,352,007 1,116,977 1,181,587 50,498 999,725 342,355 9,506 60,560 8,877,494 137,961 35,223 4,542 177,726 1,141,500 1,275,000 524,500 356,000 521,800 352,700 107,500 4,279,000 101,607 35,211 3,986 140,804 427,200 427,200 854,400 1,904,986 715,623 396,447 702,497 15,000 316,978 161,030 60,579 40,993 4,314,133 2,711,694 1,044,178 116,623 3,872,495 3,884,213 790,823 924,561 139,602 50,224 100,664 50,332 5,940,419 10,748,091 2,405,818 1,088,518 5,035,562 2,507,942 1,148,887 7,564 22,942,382
80

SCHEDULE 8A
INVESTMENTS - POLICYHOLDERS
(` 000)
LONG TERM INVESTMENT Government Securities (Market value : ` 15,930,688 thousands) Other Approved Securities (Market value : ` 6,007,873 thousands) Other Approved Investments Equity (Historical value : ` 1,875,769 thousands) Debentures/ Bonds (Market value : ` 3,836,438 thousands) Property (Historical value : ` 185,521 thousands) CCIL Deposit (Market value : ` 140,804 thousands) Fixed Deposits (Market value : ` 50,000 thousands) Investments in Infrastructure/Housing/Social Sector Equity (Historical value : ` 33,264 thousands) Debentures/ Bonds (Market value : ` 8,167,613 thousands) Other Investments Equity (Historical value : ` 221,403 thousands) Debentures/ Bonds (Market value : ` 176,025 thousands) Venture Fund (Market value : ` 723,741 thousands) SHORT TERM INVESTMENT Other Approved Securities (Market value : ` 57,140 thousands) Other Approved Investments Debentures/ Bonds (Market value : ` 233,522 thousands) Fixed Deposits (Market value : ` 447,600 thousands) Certificate of Deposits (Market value : ` 1583,098 thousands) CBLO (Market value : ` 18,996 thousands) Mutual Fund (Historical value : ` 654,434 thousands) Investments in Infrastructure/Housing/Social Sector Debentures/ Bonds (Market value : ` 377,941 thousands) Commercial Paper (Market value : ` 196,480 thousands) Total In India Total 21,456,519 21,456,519 21,456,519 5,530,054 5,530,054 5,530,054 4,024,154 4,024,154 4,024,154 6,740,538 6,740,538 6,740,538 148,900 148,900 148,900 4,516,836 4,516,836 4,516,836 1,497,256 1,497,256 1,497,256 95,781 95,781 95,781 555,663 555,663 555,663 44,565,701 44,565,701 44,565,701 196,480 196,480 78,267 3,006 181,048 98,189 12,497 373,007 204,278 83,499 7,495 216,392 50,012 1,284 91,473 654,433 47 7,580 11,369 18,996 942,425 200,365 291,231 129,333 19,744 1,583,098 229,800 29,700 148,500 19,800 9,900 9,900 447,600 144,257 73,094 13,006 230,357 4,818 51,689 56,507 725,800 725,800 126,025 50,000 176,025 381,540 381,540 2,980,062 852,030 1,353,323 1,576,647 50,152 860,420 231,556 9,452 62,948 7,976,590 77,712 37,524 115,236 50,000 50,000 101,607 35,211 3,986 140,804 427,200 1,710,408 3,077,020 1,050,087 335,480 427,200 854,400 477,336 439,790 19,000 485,814 188,562 61,261 42,893 3,760,544 4,127,107 3,122,815 666,041 908,723 51,438 19,803 822,569 312,106 13,884 114,889 6,032,268 7,681,187 1,953,747 501,975 4,531,961 1,551,411 437,037 7,591 16,664,909
81
financial Report
SCHEDULE 8B
ASSETS HELD TO COVER LINKED LIABILITIES
March 31, 2011 Particulars Linked Life Funds Linked Pension Funds Linked Health Funds Linked Group Funds Total
(` 000)
LONG TERM INVESTMENTS Government Securities (Historic value : ` 3,851,046 thousands) Other Approved Securities (Historic value : ` 10,798 thousands) Other Approved Investments Equity (Historic value : ` 285,038,155 thousands) Debentures/ Bonds (Historic value : ` 20,651,553 thousands) Fixed Deposit (Historic value : ` 15,216,000 thousands) Investments in Infrastructure/Housing/Social Sector Equity (Historic value : ` 23,311,631 thousands) Debenture/ Bonds (Historic value : ` 24,383,571 thousands) Other Investments Equity (Historic value : ` 39,663,904 thousands) Debentures/ Bonds (Historic value : ` 1,817,022 thousands) Venture Fund (Historic value : ` 16,440 thousands) SHORT TERM INVESTMENTS Government Securities (Historic value : ` Nil) Other Approved Securities (Historic value : ` 315,373 thousands) Other Approved Investments Debentures/ Bonds (Historic value : ` 5,990,783 thousands) Certificate of Deposit (Historic value : ` 50,562,936 thousands) Commercial Papers (Historic value : ` 3,349,798 thousands) Fixed Deposits (Historic value : ` 19,879,607 thousands) CBLO (Historic value : ` 322,390 thousands) Mutual Fund (Historic value : ` 861,630 thousands) Investments in Infrastructure/Housing/Social Sector Debentures/ Bonds (Historic value : ` 3,648,611 thousands) Commercial Papers (Historic value : ` 7,168,479 thousands) Other Investments Mutual Fund (Historic value : ` 425,666 thousands) Net Current Asset Total In India Total 257,595 3,936,455 298,703,887 298,703,887 298,703,887 101,853 3,398,115 242,278,182 242,278,182 242,278,182 48,006 79,834 2,023,333 2,023,333 2,023,333 18,212 1,234,826 45,259,945 45,259,945 45,259,945 425,666 8,649,230 588,265,347 588,265,347 588,265,347 1,827,162 2,959,435 1,209,509 2,518,834 3,343 31,275 663,014 1,779,757 3,703,028 7,289,301 280,373 431,302 289,417 42,088 15,231 125,680 322,461 861,630 8,066,807 6,812,578 60,428 4,939,794 19,879,607 2,289,758 20,417,281 734,528 1,682,974 19,763,330 1,374,549 34,529 171,555 2,846 1,952,664 10,827,133 1,280,964 5,959,925 51,179,299 3,392,887 105,827 200,772 2,320 308,919 20,890,134 371,733 16,883 14,991,337 520,889 184,381 8,016 670,575 920,813 36,736,427 1,821,451 16,883 9,993,990 10,183,203 10,869,975 7,882,077 106,431 67,186 141,138 6,172,505 21,111,534 24,304,971 198,516,792 8,658,406 5,430,191 157,553,670 6,915,106 5,673,708 1,003,955 94,122 70,006 5,532,127 4,936,271 4,042,095 362,606,544 20,603,905 15,216,000 3,325,193 10,839 519,489 101 19,988 69 3,864,771 10,908
82

SCHEDULE 8B
ASSETS HELD TO COVER LINKED LIABILITIES
March 31, 2010 Particulars LONG TERM INVESTMENTS Government Securities (Historic value : ` 428,929 thousands) Other Approved Securities (Historic value : ` 326,904 thousands) Other Approved Investments Equity (Historic value : ` 223,319,342 thousands) Debentures/Bonds (Historic value : ` 28,005,813 thousands) Fixed Deposit (Historic value : ` 1,300,009 thousands) Investments in Infrastructure/Housing/Social Sector Equity (Historic value : ` 19,447,974 thousands) Debenture/Bonds (Historic value : ` 32,894,504 thousands) Other Investments Equity (Historic value : ` 40,095,143 thousands) Debentures/Bonds (Historic value : ` 273,013 thousands) Venture Fund (Historic value : ` 22,200 thousands) SHORT TERM INVESTMENTS Government Securities (Historic value : ` 2,949,784 thousands) Other Approved Securities (Historic value : ` 8,248 thousands) Other Approved Investments Debentures/Bonds (Historic value : ` 1,596,494 thousands) Certificate of Deposit (Historic value : ` 40,546,556 thousands) Commercial Papers (Historic value : ` 3,662,536 thousands) Fixed Deposits (Historic value : ` 8,550,900 thousands) CBLO (Historic value : ` 2,573,325 thousands) Mutual Fund (Historic value : ` 2,750,218 thousands) Investments in Infrastructure/Housing/Social Sector Debentures/Bonds (Historic value : ` 2,924,714 thousands) Commercial Papers (Historic value : ` 2,729,872 thousands) Other Investments Term Loans (Historic value : ` 71,600 thousands) Mutual Fund (Historic value : ` 1,344,519 thousands) Net Current Asset Total In India Total 52,180 377,519 2,380,121 280,953,870 280,953,870 280,953,870 19,420 927,448 1,132,148 195,197,612 195,197,612 195,197,612 5,598 51,092 1,191,044 1,191,044 1,191,044 33,954 1,962,905 37,350,040 37,350,040 37,350,040 71,600 1,344,519 5,526,266 514,692,566 514,692,566 514,692,566 1,557,563 668,920 871,788 787,157 16,457 1,350 634,274 1,287,613 3,080,082 2,745,040 1,027,039 13,491,498 1,089,160 3,790,931 1,782,506 951,450 315,095 16,429,302 2,040,748 2,164,632 786,405 1,528,936 250 140,979 108 15,168 4,747 10,689 276,384 10,675,712 542,653 2,580,169 259,143 1,618,768 40,737,491 3,672,669 8,550,900 2,573,658 2,750,218 2,087,502 8,164 876,896 67 2,964,398 8,231 25,932,401 104,468 21,837 17,470,460 79,106 110,021 151 463,483 92,893 43,976,365 276,618 21,837 12,346,778 14,603,436 10,150,711 11,193,202 73,028 95,065 352,468 7,532,899 22,922,985 33,424,602 185,690,858 12,137,900 324,001 117,677,585 9,954,626 578,341 510,751 117,304 38,286 3,857,132 6,422,561 359,381 307,736,326 28,632,391 1,300,009 407,685 119,953 8,378 205,228 13,858 2,491 429,921 327,672 Linked Life Funds Linked Pension Funds Linked Health Funds Linked Group Funds Total
(` 000)
83
financial Report
SCHEDULE 9
LOANS Particulars 1. SECURITY-WISE CLASSIFICATIONS Secured (a) On mortgage of property (aa) In India (bb) Outside India (b) On Shares, Bonds, Govt Securities, etc. (c) Loans against policies (d) Others Unsecured Total 2. BORROWER WISE CLASSIFICATION (a) Central and State Governments (b) Banks and Financial Institutions (c) Subsidiaries (d) Companies (e) Loans against policies (f) Loans to employees Total 3. PERFORMANCE-WISE CLASSIFICATION (a) Loans classified as standard (aa) In India (bb) Outside India (b) Non-standard loans less provisions (aa) In India (bb) Outside India Total 4. MATURITY-WISE CLASSIFICATION (a) Short-Term (b) Long-Term Total March 31, 2011 (` 000) March 31, 2010
86,945 86,945 86,945 86,945
28,400 87,648 116,048 28,400 87,648 116,048
86,945 86,945 86,945 86,945
116,048 116,048 28,400 87,648 116,048
SCHEDULE 10
FIXED ASSETS
Gross Block (at cost) Particulars At April 1, 2010 903,280 89,000 2,457,647 151,697 228,610 102,497 62,251 2,480 438,192 4,435,654 Additions 13,756 1,529 15,618 4,868 6,796 2,405 78,970 123,942 Deductions 158,135 21,953 1,501 740 182,329 At March 31, 2011 903,280 89,000 2,313,268 131,273 242,727 106,625 69,047 4,885 517,162 4,377,267 At April 1, 2010 4,361 1,115,617 115,082 198,942 100,097 49,009 1,971 228,221 1,813,300 Depreciation For the year 1,451 573,834 13,762 20,319 4,821 7,687 670 103,965 726,509 Deductions 117,693 12,591 946 739 131,969 At March 31, 2011 5,812 1,571,758 116,253 218,315 104,179 56,696 2,641 332,186 2,407,840 At March 31, 2011 903,280 83,188 741,510 15,020 24,412 2,446 12,351 2,244 184,976 1,969,427 13,201 1,982,628 4,758,707 228,315 551,368 4,435,654 1,550,573 596,888 334,161 1,813,300
(` 000)
Net Block At March 31, 2010 903,280 84,639 1,342,030 36,615 29,668 2,400 13,242 509 209,971 2,622,354 11,650 2,634,004
Freehold Land Office Buildings on Freehold Land Improvements to Leasehold Property Furniture and Fixtures Office Equipment/plant Information Technology Equipment/ Computer Communication Networks Motor Vehicles Software Total
Capital work in progess including capital advances Total Previous year
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SCHEDULE 11
CASH AND BANK BALANCES Particulars Cash (including cheques, drafts and stamps) Bank Balance (a) Deposit Account : (aa) Short-term (due within 12 months of the date of balance sheet) (bb) Others (b) Current accounts Money at call and short notice Others Total CASH AND BANK BALANCES In India Outside India Total March 31, 2011 2,314,279 (` 000) March 31, 2010 2,188,979
988,920 3,303,199 3,284,247 18,952 3,303,199
865,044 3,054,023 3,024,169 29,854 3,054,023
SCHEDULE 12
ADVANCES AND OTHER ASSETS Particulars ADVANCES Prepayments Advance tax paid and taxes deducted at source Deposits Other advances Other receivables Total (A) OTHER ASSETS Income accrued on investments and deposits Outstanding premiums Agents balances Sundry Debtors (Investments) Service Tax un-utilised credit Total (B) Total (A+B) March 31, 2011 231,772 37,904 1,341,719 271,274 28,062 1,910,731 1,188,907 206,018 10,742 30,854 1,436,521 3,347,252 (` 000) March 31, 2010 267,287 36,362 1,009,796 175,116 24,316 1,512,877 905,762 253,179 8,750 47,248 238,200 1,453,139 2,966,016
SCHEDULE 13
CURRENT LIABILITIES Particulars Agents balances Sundry creditors Deposits Expenses payable Reinsurance premium payable Due to holding company TDS payable Claims outstanding Unallocated premium Premium received in advance Payable towards investments purchased Unclaimed amount of Policyholders (Refer note 3.7 of schedule 16) Other liabilities Total March 31, 2011 435,750 275,276 5,981 5,174,953 42,782 123,521 214,445 157,638 1,461,815 800,590 4,467,815 2,736,136 15,896,702 (` 000) March 31, 2010 417,273 267,067 5,981 4,870,920 168,547 611,697 284,922 392,103 2,053,271 568,107 32,637 1,626,699 4,417,794 15,717,018
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SCHEDULE 14
PROVISIONS Particulars For proposed dividends For dividend distribution tax Provision for service tax un-utilised credit Provision for leave encashment and gratuity Total March 31, 2011 49,060 49,060 (` 000) March 31, 2010 238,200 60,635 298,835
SCHEDULE 15
MISCELLANEOUS EXPENDITURE (To the extent not written off or adjusted) Particulars Discount allowed in issue of shares/debentures Others Total March 31, 2011 (` 000) March 31, 2010
Schedule: 16 Significant accounting policies and notes forming part of the accounts for the year ended March 31, 2011 1. Background ICICI Prudential Life Insurance Company Limited (`the Company) a joint venture between ICICI Bank Limited and Prudential Corporation Plc was incorporated on July 20, 2000 as a company under the Companies Act, 1956 (`the Act). The Company is licensed by the Insurance Regulatory and Development Authority (ÌRDA) for carrying life insurance business in India. The Company carries on business in the areas of life, pensions and health insurance. This business spans across individual and group products and covers participating, non-participating and unit linked lines of businesses. Riders covering additional benefits are offered under these products. These products are distributed through individual agents, corporate agents, banks, brokers and the Companys proprietary sales force. 2. 2.1 Summary of significant accounting policies Basis of preparation
The accompanying financial statements have been prepared and presented under the historical cost convention, unless otherwise stated, on the accrual basis of accounting, in accordance with accounting principles generally accepted in India, in compliance with the Accounting Standards (ÀS) prescribed in the Companies Act, 1956 and Rules thereunder, to the extent applicable, and in accordance with the provisions of the Insurance Act, 1938, Insurance Regulatory and Development Authority Act, 1999, and the regulations framed thereunder, the Act to the extent applicable, various circulars issued by IRDA and the practices prevailing within the insurance industry in India. Accounting policies applied have been consistent with previous year except where different treatment is required as per new pronouncements made by the regulatory authorities. The management evaluates all recently issued or revised accounting pronouncements on an ongoing basis. 2.2 Use of estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amount of assets, liabilities, revenues and expenses and disclosure of contingent liabilities as on the date of the financial statements. The estimates and assumptions used in the accompanying financial statements are based upon managements evaluation of the relevant facts and circumstances as on the date of the financial statements. Actual results could differ from those estimates. Any revision to accounting estimates is recognised prospectively.
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2.3 Revenue recognition 2.3.1. Premium income Premium is recognised as income when due. For linked business, premium is recognised as income when the associated units are created. Premium on lapsed policies is recognised as income when such policies are reinstated. Top up premiums are considered as single premium.
2.3.2. Income from linked fund
Income from linked funds which includes fund management charges, policy administration charges, mortality charges, etc are recovered from the linked fund in accordance with terms and conditions of policies issued and are recognised when due. 2.3.3. Income earned on investments Interest income on investments is recognised on accrual basis. Accretion of discount and amortisation of premium relating to debt securities is recognised over the holding/maturity period on a straight-line basis. Dividend income, in respect of other than linked business, is recognised when the right to receive dividend is established. Dividend income, in respect of linked business, is recognised on the èxdividend date. Realised gain/loss on debt securities for other than linked business is the difference between the sale consideration net of expenses and the amortised cost computed on a weighted average basis as on the date of sale. Realised gain/loss on debt securities for linked business is the difference between the sale consideration net of expenses and the book cost computed on weighted average basis as on the date of sale. Profit or loss on sale of equity shares/mutual fund units is the difference between the sale consideration net of expenses and the book cost computed on weighted average basis. In respect of other than linked business the profit or loss includes the accumulated changes in the fair value previously recognised under Fair Value Change Account. 2.3.4. Income earned on loans Interest income on loans is recognised on an accrual basis. 2.3.5. Income from operating leases
Leases where the lessor effectively retains substantially all the risks and benefits of ownership over the lease term are classified as operating leases. Operating lease rentals are recognised as income, on a straight line basis, over the lease term. 2.4 Reinsurance premium Cost of reinsurance ceded is accounted for at the time of recognition of premium income in accordance with the treaty or in-principle arrangement with the reinsurer. Profit commission on reinsurance ceded is netted off against premium ceded on reinsurance. 2.5 Benefits paid Benefits paid comprise of policy benefits and claim settlement costs, if any. Death, rider and surrender claims are accounted for on receipt of intimation. Survival benefit claims and maturity claims are accounted when due. Withdrawals and surrenders under linked policies are accounted in the respective schemes when the associated units are cancelled/redeemed. Reinsurance recoveries on claims are accounted for, in the same period as the related claims. 2.6 Acquisition costs Acquisition costs are costs that vary with and are primarily related to acquisition of insurance contracts and are expensed in the period in which they are incurred.
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2.7
Actuarial liability valuation
Actuarial liability for life policies in force and for policies in respect of which premiums have been discontinued but a liability exists, is determined by the Appointed Actuary using the gross premium method, in accordance with accepted actuarial practice, requirements of Insurance Act 1938, IRDA regulations and the Guidance Notes issued by the Institute of Actuaries of India. 2.8 Investments Investments are made in accordance with the Insurance Act, 1938, the IRDA (Investment) Regulations, 2000, and various other circulars/notifications/amendments issued by the IRDA in this context from time to time. Investments are recorded at cost on the date of purchase, which includes brokerage and taxes, if any, and excludes pre-acquisition interest accrued as on the date of acquisition. Bonus entitlements are recognised as investments on the ex-bonus date. Rights entitlements are recognised as investments on the ex-rights date. Any front end discount on privately placed investments is reduced from the cost of such investments. Broken period interest paid/received is debited/credited to interest receivable account and is not included in the cost of purchase/sale value. 2.8.1. Classification Investments maturing within twelve months from the balance sheet date and investments made with the specific intention to dispose them off within twelve months from the balance sheet date are classified as short-term investments. Investments other than short-term investments are classified as long-term investments. 2.8.2. Valuation - shareholders investments and non-linked policyholders investments All debt securities and redeemable preference shares are considered as `held to maturity and accordingly stated at historical cost, subject to amortisation of premium or accretion of discount in the revenue account or the profit and loss account over the period of maturity/holding on a straight line basis. Listed equity shares as at the balance sheet date are stated at fair value being the last quoted closing price on the National Stock Exchange (NSE) (In case of securities not listed on NSE, the last quoted closing price on the Bombay Stock Exchange (BSE) is used). Equity shares awaiting listing are stated at historical cost subject to provision for diminution, if any, in the value of such investment determined separately for each individual investment. Mutual fund units are valued at the latest available net asset values of the respective fund. Unrealised gains/losses arising due to changes in the fair value of listed equity shares and mutual fund units are taken to Fair Value Change Account in the balance sheet. Investment in real estate is valued at historical cost, subject to revaluation (done atleast once in every three years) and provision for impairment, if any. The change in carrying amount of investments in real estate is taken to revaluation reserve under Policyholders funds in the balance sheet. Investments in venture fund units are valued at historical cost. 2.8.3. Valuation linked business
Debt securities other than Government securities with a residual maturity over 182 days are valued on a yield to maturity basis, by using spreads over the benchmark rate (based on the matrix released by the Credit Rating Information Services of India Ltd. (CRISIL) on daily basis) to arrive at the yield for pricing the security. Debt securities with a residual maturity upto 182 days are valued at last valuation price plus the difference between the redemption value and last valuation price, spread uniformly over the remaining maturity period of the instrument.
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Central and State Government securities are valued as per the prices released by CRISIL. Money market instruments are valued at historical cost, subject to amortisation of premium or accretion of discount over the period of maturity/holding on a straight-line basis. Listed equity shares are valued at market value, being the last quoted closing price on the NSE (In case of securities not listed on NSE, the last quoted closing price on the BSE is used). Equity shares awaiting listing are stated at historical cost subject to provision for diminution, if any, in the value of such investment determined separately for each individual investment. Mutual fund units are valued at the latest available net asset values of the respective fund. Venture fund units are valued at the latest available net asset value of the respective fund. Securities with call option are valued at the lower of the value as obtained by valuing the security to final maturity date or the call option date. In case there are multiple call options, the security is valued at the lowest value obtained by valuing to security at various call dates or to the final maturity date. Securities with put option are valued at the higher of the value as obtained by valuing the security to final maturity date or to the put option date. In case there are multiple put options, the security is valued at the highest value obtained by valuing the security to various put dates or to the final maturity date. The securities with both put and call option on the same day would be deemed to mature on the put/ call day and would be valued on a yield to maturity basis, by using spreads over the benchmark rate based on the matrix released by CRISIL. Instruments bought on `repo basis are valued at cost plus interest accrued on reverse repo rate. Unrealised gains and losses are recognised in the respective funds revenue account.
2.8.4. Transfer of investments
Transfer of investments from Shareholders Fund to the Policyholders Fund is at cost or market price, whichever is lower. However, in case of debt securities all transfers are carried out at the net amortised cost. Transfer of investments between unit linked funds is done at market price. 2.9 2.10 Loans Fixed assets, Intangibles and Impairment 2.10.1. Fixed assets and depreciation Loans are stated at historical cost, subject to provision for impairment, if any.
Fixed assets are stated at cost less accumulated depreciation. Cost includes the purchase price and any cost directly attributable to bring the asset to its working condition for its intended use. Subsequent expenditure incurred on fixed assets is expensed out except where such expenditure increases the future benefits from the existing assets. Assets costing upto ` 5,000 (Rupees five thousand) are fully depreciated in the year of acquisition. The rate of depreciation is higher of the managements estimate based on useful life or the rates prescribed under the Act. Depreciation is provided using Straight-Line Method (SLM) prorated from the date of acquisition/upto the date of sale, based on estimated useful life for each class of asset, as stated below: Asset Office buildings on freehold land Improvement to leasehold properties Furniture and fixtures Office equipment Information technology equipment Communication networks and servers Motor vehicles Depreciation rates 1.63% Over the lease period, subject to a maximum of 9 years 15% 25% 33.33% 25% 20%
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2.10.2. Intangibles
Intangible assets comprising software are stated at cost less amortisation. Significant improvements to software are capitalised and amortised over the remaining useful life of original software. Software expenses are amortised using Straight-Line Method over a period of 4 years from the date of being put to use. 2.10.3. Impairment of assets Management periodically assesses, using external and internal sources, whether there is any indication that an asset may be impaired. Impairment occurs where the carrying value exceeds the present value of future cash flows expected to arise from the continuing use of the asset and its eventual disposal. The impairment loss to be expensed is determined as the excess of the carrying amount over the higher of the assets net sales price or present value as determined above. If at the balance sheet date there is an indication that a previously assessed impairment loss no longer exists, the recoverable amount is reassessed and the asset is reflected at the recoverable amount, subject to a maximum of depreciable historical cost. 2.11 Operating leases
Leases where the lessor effectively retains substantially all the risks and benefits of ownership over the leased term are classified as operating leases. Operating lease rentals including escalations are recognised as an expense, on a straight-line basis, over the lease term. 2.12 Staff benefits All short term employee benefits are accounted on undiscounted basis during the accounting period based on services rendered by employees. The Company has incorporated a Provident Fund Trust to which it pays a fixed contribution at the rate specified in the trust deed. The trust deed also provides for the Company to indemnify to the trust, interest at the rates prescribed by the Central Government, in case the fund does not hold sufficient assets. The Guidance issued by the Institute of Chartered Accountants of India (ICAI) on implementing AS 15, Employee Benefits (revised 2005) states that the provident funds set up by employers, which requires interest shortfall to be met by the employer, needs to be treated as defined benefit plan. Pending the issuance of the Guidance Note in this respect by the Actuarial Society of India, the Companys consulting actuary has expressed his inability to reliably measure the provident fund liability. Accordingly, the Company is unable to exhibit the related disclosures. The Companys liability towards gratuity and leave encashment being defined benefit plans is accounted for on the basis of an independent actuarial valuation done at the year end and actuarial gains/losses are charged to the revenue account and the profit and loss account as applicable. Superannuation is a defined contribution plan. The Company has accrued for superannuation liability based on a percentage of basic salary payable to eligible employees for the period of service. 2.13 Foreign exchange transactions Transactions in foreign currencies are recorded at the exchange rates prevailing at the date of the transaction. Monetary assets and liabilities in foreign currency, if any, are translated at the year end closing rates. The resulting exchange gain or loss arising either on settlement or on translation, if any, are reflected in the revenue account and the profit and loss account as applicable. 2.14 Segment reporting policies Based on the primary segments identified under IRDA (Preparation of Financial Statements and Auditors Report of Insurance Companies) Regulations 2002 (the Regulations) read with AS 17 on Segmental Reporting prescribed in the Companies Act, 1956 and rules thereunder, the Company has classified and disclosed segmental information into Shareholder and Policyholder Participating (Life and Pension for Group and Retail segments put together), Non Participating, Linked (Life, Pension, Health and Group), Health and Annuity businesses. There are no reportable geographical segments, since all business is written in India.
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Allocation of expenses Operating expenses relating to insurance business are allocated to specific business segments in the following manner, which is applied on a consistent basis. Expenses that are directly identifiable to the segment are allocated on actual basis. Other expenses (including depreciation and amortisation), that are not directly identifiable to a business segment, are allocated on one of the following basis: Number of policies Weighted annualised first year premium income Sum assured Total premium income Medical cases Funds under management The method of allocation has been decided based on the nature of the expense and its logical relationship to the various business segments. 2.15 Taxation Income tax expense comprises of current tax (i.e. amount of tax for the period determined in accordance with the Income Tax Act, 1961) and deferred tax charge or credit (reflecting the tax effects of timing differences between accounting income and taxable income for the period). Provision for current income tax is made based on the estimated tax liability computed after taking credit for allowances and exemptions in accordance with the Income Tax Act, 1961. The deferred tax charge or credit and the corresponding deferred tax liabilities or assets are recognised using the tax rates that have been enacted or substantively enacted by the balance sheet date. Deferred tax assets are recognised only to the extent there is reasonable certainty that the assets can be realised in future; however, where there is unabsorbed depreciation or carried forward loss under taxation law, deferred tax assets are recognised only if there is a virtual certainty of realisation of such assets. Deferred tax assets are reviewed as at each balance sheet date and written down or written up to reflect the amount that is reasonable/virtually certain (as the case may be) to be realised. The company allocates tax to the participating lines of business in order to ensure that the expenses pertaining to and identifiable with a particular line of business are represented as such to enable a more appropriate presentation of the financial statements. According to the revised policy, tax charge/credit on surplus/deficit arising from the participating line of business will be disclosed separately in the revenue account. 2.16 Employee Stock Option Scheme The Company has formulated an Employee Stock Option Scheme (the Scheme). The Scheme provides that eligible employees are granted options to acquire equity shares of the Company that vest in graded manner. The vested options may be exercised within a specified period. The exercise price of the option is diluted when there is a subsequent issue of shares at a price lower than the grant price. The options are accounted on intrinsic value basis and accordingly the intrinsic value of options, if any, is amortised over the vesting period. Incremental intrinsic value of options, arising from modification of exercise price, if any, is amortised over the remainder of the vesting period. 2.17 Provisions and contingencies The Company makes a provision when there is a present obligation as a result of a past event that probably requires an outflow of resources and a reliable estimate can be made of the amount of the obligation. A disclosure of a contingent liability is made when there is a possible obligation or present obligations that may, but probably will not, require an outflow of resources or it cannot be reliably estimated. When there is a possible obligation or a present obligation in respect of which the likelihood of outflow of resources is remote, no provision or disclosure is made. Loss contingencies arising from claims, litigation, assessment, fines, penalties, etc are recorded when it is possible that a liability has been incurred and the amount can be reasonably estimated.
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2.18
Earnings per share
Basic earnings per share are calculated by dividing the net profit or loss for the period attributable to equity shareholders by the weighted average number of equity shares outstanding during the period. For the purpose of calculating diluted earnings per share, the net profit or loss for the period attributable to equity shareholders and the weighted average number of shares outstanding during the period are adjusted for the effects of all dilutive potential equity shares. 2.19 Appropriation/Expropriation In accordance with the Unit Linked guidelines issued by IRDA effective July 1, 2006, the Company follows the Appropriation/Expropriation method for calculating the Net Asset Value (`NAV). This method provides for adjusting the NAV on account of the `Dealing Costs. The accounting for dealing costs is disclosed in the Revenue account as an adjustment with corresponding changes to the Change in Valuation of Policy Liability Account. Corresponding adjustments are also made in the Assets Held to cover Policy Liabilities and the Provisions for Linked Liabilities in the Balance Sheet. 2.20 Funds for Future Appropriations Linked Amounts estimated by Appointed Actuary as Funds for Future Appropriations (`FFA) Linked are required to be set aside in the balance sheet and are not available for distribution to shareholders until the expiry of the maximum revival period. The Company appropriates FFA from the Revenue Account.
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3 3.1 Notes to accounts Contingent liabilities
(` 000)
Particulars Partly-paid up investments Underwriting commitments outstanding Claims, other than those under policies, not acknowledged as debts Guarantees given by or on behalf of the Company Statutory demands/liabilities in dispute, not provided for Reinsurance obligations to the extent not provided for Others policy related claims under litigation 3.2 Actuarial method and assumptions
As at March 31, 2011 153,485 4,888 239,601
As at March 31, 2010 19,191 4,888 107,391
The actuarial liability in respect of both participating and non-participating policies is calculated using the gross premium method, using assumptions for interest, mortality, expense and inflation and, in the case of participating policies, future bonuses together with allowance for taxation and allocation of profits to shareholders. These assumptions are determined as prudent estimates at the date of valuation with allowances for adverse deviations. No allowance is made for expected lapses. An explicit provision has been made to allow for additional expenses that the Company may have to incur if it were to close to new business 12 months after the valuation date. The greater of a liability calculated using discounted cash flows and unearned premium reserves is held for the unexpired portion of the risk for the general fund liabilities of linked business and attached riders. An unearned premium reserve is held for one year renewable group term insurance. The unit liability in respect of linked business has been taken as the value of the units standing to the credit of policyholders, using the Net Asset Value (`NAV) prevailing at the valuation date. The adequacy of charges under unit linked policies to meet future expenses has been tested and provision made as appropriate. Provision has also been made for the cost of guarantee under unit linked products that carry a guarantee. The units held in respect of lapsed policies are divided into a revival reserve, which contributes to liabilities, and a fund for future appropriation, which contributes to regulatory capital. The interest rates used for valuing the liabilities are in the range of 6.16% to 6.86% per annum. The corresponding range last year was 5.10% to 6.78% per annum. Mortality rates used are based on the published IALM (94-96) Ultimate Mortality Table for assurances and LIC (a) 96-98 table for annuities, adjusted to reflect expected experience. Morbidity rates used are based on CIBT 93 table, adjusted for expected experience, or on risk rates supplied by reinsurers. Expenses are provided for at current levels, in respect of renewal expenses, with no allowance for future improvements. Per policy renewal expenses for regular premium policies are assumed to inflate at 5.90% (Previous year 4.30%). 3.3 3.4 Encumbrances of assets Assets to be deposited under local laws The assets of the Company are free from all encumbrances as at March 31, 2011 (Previous year: ` Nil). There are no assets required to be deposited by the Company under any local laws or otherwise encumbered in or outside India as of March 31, 2011 except investments to be held under Section 7 of the Insurance Act, 1938 as disclosed under 3.9 below. 3.5 3.6 Restructured Assets Commitments There are no assets including loans subject to re-structuring (Previous year: ` Nil). Commitments made and outstanding for loans and investment is ` Nil (Previous year: ` Nil). Estimated amount of contracts remaining to be executed on fixed assets to the extent not provided for (net of advance) is ` 61,269 thousand (Previous year: ` 59,632 thousand).
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3.7
Unclaimed amount of policyholders
In accordance with circular no. IRDA/F&I/CIR/CMP/174/11/2010 issued by IRDA on November 04, 2010, the age wise analysis of unclaimed amount of the policyholders as on March 31, 2011 is tabulated as below: A) Claims settled but not paid to the policyholders/insured due to any reasons except under litigation from the insured/policyholders Year 2011 2010 B) Year 2011 2010 Total Amount 4,145 11,459 Age-wise analysis (` 000) 0-1 months 4,125 4,607 1-6 months 20 5,768 7-12 months 13-18 months 172 19-24 months 912 25-30 months 31-36 months Beyond 36 months
Sum due to the insured/policyholders on maturity or otherwise Total Amount 3,163,220 1,040,150 Age-wise analysis (` 000) 0-1 months 3,106,529 988,039 1-6 months 23,972 20,951 7-12 months 8,235 8,666 13-18 months 4,829 8,181 19-24 months 6,535 5,962 25-30 months 6,516 2,906 31-36 months 6,029 4,852 Beyond 36 months 575 593
C) Any excess collection of the premium/tax or any other charges which is refundable to the policyholders either as terms of conditions of the policy or as per law or as may be directed by the Authority but not refunded so far Year 2011 2010 Total Amount 241,086 194,684 Age-wise analysis (` 000) 0-1 months 222,080 173,828 1-6 months 15,591 20,634 7-12 months 741 136 13-18 months 2,488 85 19-24 months 129 25-30 months 56 31-36 months Beyond 36 months 1 1
D) Year 2011 2010
Cheques issued but not encashed by the policyholder/insured Total Amount 2,573,592 3,973,246 Age-wise analysis (` 000) 0-1 months 1,024,933 3,395,348 1-6 months 807,048 271,932 7-12 months 305,185 81,230 13-18 months 170,926 50,736 19-24 months 55,374 69,314 25-30 months 39,503 31,747 31-36 months 36,811 28,287 Beyond 36 months 133,812 44,652
The cheques issued but not encashed by policyholder/insured category include ` 1,514,228 thousands pertaining to cheques which are within the validity period but not yet encashed by the policyholders as on March 31, 2011 (Previous Year ` 3,592,841). This amount forms part of bank reconciliation statement and consequently not considered in unclaimed amount of policyholders as disclosed under Schedule 13 Current liabilities. 3.8 Managerial remuneration The details of the Managing Director and Executive Directors remuneration included in employee remuneration and welfare benefits are as follows:
(` 000)
Particulars Salary, perquisites and bonus Contribution to provident fund
March 31, 2011 44,381 2,032
March 31, 2010 104,070 1,060
Expenses towards gratuity and leave encashment provision are determined actuarially for the Company as a whole on an annual basis and accordingly have not been considered in the above information.
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All the managerial remuneration is in accordance with the requirements of Section 34A of the Insurance Act, 1938 and as approved by IRDA. 3.9 Investments T he investments are effected from the respective funds of the policyholders or shareholders and income thereon has been accounted accordingly. All investments are performing investments. The market value of Investments under Section 7 of the Insurance Act, 1938 are as follows:
(` 000)
Particulars 7.40% 2012 Government of India Securities * 12.32% 2011 Government of India Securities* Total 3.10
March 31, 2011 100,444 100,444
March 31, 2010 92,211 10,598 102,809
* This investment is held by the custodian in Constituent Subsidiary General Ledger Account under intimation to IRDA. Value of investment contracts where settlement or delivery is pending is as follows:
(` 000)
March 31, 2011 Particulars Purchases where deliveries are pending Sales where receipts are pending 3.11 Real Estate Investment Property Linked business 3,319,514 4,761,939 Non-linked business
March 31, 2010 Linked business 3,753,057 1,917,537 Non-linked business 46,279
In accordance with the IRDA Regulations, 2002 (Preparation of Financial Statements and Auditors Report of Insurance Companies), the Companys real estate investments have been revalued by an independent valuer as of March 2011. The value of real estate investment based on the valuation report is disclosed at revalued amount. The value of the investment property in accordance with the independent valuation of March 2011 is ` 854,400 thousand (Previous year: ` 854,400 thousand, Historical cost: ` 185,521 thousand). 3.12 Sector-wise percentage of business Sector wise break-up of policies issued during the year is as follows: Sector Rural Number of policies Percentage of total policies Percentage of total policies Number of lives Percentage of group lives Gross premium (` 000) Percentage of total premium Number of group lives Gross new business premium (` 000) Social Number of policies March 31, 2011 352,899 26% 1 0.0001% 159,427 5% 7,505 0.01% 1,350,724 3,136,447 78,621,397 March 31, 2010 423,670 24% 48 0.0027% 175,564 9% 8,179 0.01% 1,761,870 2,064,644 63,340,010
Total Number of policies
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3.13
Risks retained and reinsured Extent of risk retained and reinsured based on sum at risk, is as follows: Particulars Individual business Risk retained Risk reinsured Group business Risk retained Risk reinsured March 31, 2011 82% 18% 50% 50% March 31, 2010 79% 21% 45% 55%
3.14
Deferred taxes
Deferred tax asset is recognized on carry forward of eligible tax losses, which can be set off against future taxable income and on timing differences arising from funds for future appropriation under linked line of business. Deferred tax assets are reviewed as at each balance sheet date and written down or written up to reflect the amount that is virtually certain to be realised. Deferred tax asset is created on the Companys eligible tax losses to the extent that there is virtual certainty supported by convincing evidence that sufficient future taxable income will be available against which such deferred tax can be realised. As at March 31, 2011, ` 1,330,807 thousand represents deferred tax asset on carry forward unabsorbed losses (Previous year: ` 2,041,498 thousand). During the year, the company has changed the accounting policy in respect of allocation of tax to the participating line of business which would result in more appropriate presentation of the financial statements. According to the revised policy, tax charge/credit on surplus/deficit arising from the participating line of business will be disclosed separately in the revenue account. Consequent to this change in accounting policy, the shareholders profit for the year ended March 31, 2011 has increased from ` 7,976,702 thousand to ` 8,076,228 thousand and the policyholders profit has decreased from ` 6,175,568 thousand to ` 6,076,042 thousand for the year ended March 31, 2011. There is no impact on the profit for last year due to this change in the accounting policy.
(` 000)
Particulars Deferred tax assets on: Carry forward of unabsorbed tax losses Linked funds for future appropriation Total 3.15 Operating lease commitments
Deferred tax asset at April 1, 2010 2,041,498 913,666 2,955,164
(Charge)/Credit for the period (710,691) (460,056) (1,170,747)
Deferred tax assets at March 31, 2011 1,330,807 453,610 1,784,417
The Company takes premises (both commercial and residential), motor vehicles, office equipments, computers, servers and modular furniture on operating lease. Certain lease arrangements provide for cancellation by either party and also contain a clause for renewal of the lease agreement. Lease payments on cancelable and non-cancelable operating lease arrangements are charged to the revenue account and the profit and loss account over the lease term on a straight line basis. The operating lease rentals charged during the year and future minimum lease payments in respect of non-cancelable operating leases as at the balance sheet date are summarised below:
(` 000)
Particulars Not later than one year Later than one year but not later than five years Later than five years
March 31, 2011 471,287 792,890
March 31, 2010 541,992 1,203,288
The total operating lease rentals charged to Revenue account in the current year is ` 2,268,307 thousand (Previous year: ` 2,639,908 thousand).
96

3.16 Details of related parties and transactions with related parties Related parties and nature of relationship Nature of relationship Holding company Substantial interest Subsidiary Fellow subsidiaries ICICI Bank Limited Prudential Corporation Plc ICICI Prudential Pension Funds Management Company Limited ICICI Securities Limited ICICI Venture Funds Management Company Limited ICICI Home Finance Company Limited ICICI Lombard General Insurance Company Limited ICICI Trusteeship Services Limited ICICI Securities Primary Dealership Limited ICICI Securities Inc. ICICI Securities Holding Inc. ICICI Investment Management Company Limited ICICI International Limited ICICI Bank UK PLC. ICICI Bank Canada ICICI Bank Eurasia Limited Liability Company ICICI Prudential Asset Management Company Limited ICICI Prudential Trust Limited ICICI Eco-net Internet and Technology Fund ICICI Equity Fund ICICI Emerging Sectors Fund ICICI Strategic Investments Fund TCW/ICICI Investment Partners Limited Liability Company ICICI Kinfra Limited ICICI West Bengal Infrastructure Development Corporation Limited ICICI Venture Value Fund (IVVF) I-Ven Biotech Limited Key management personnel Sandeep Bakhshi, Managing Director & CEO (w.e.f. August 1, 2010) V. Vaidyanathan, Managing Director & CEO (up to July 31, 2010) Puneet Nanda, Executive Director Madhivanan Balakrishnan, Executive Director Anita Pai, Executive Vice President (up to April 1, 2010) Tarun Chugh, Executive Vice President Judhajit Das, Chief Human Resources Avijit Chatterjee, Appointed Actuary Significant influence ICICI Prudential Life Insurance Company Limited Employees Group Gratuity Cum Life Insurance Scheme ICICI Prudential Life Insurance Company Limited Employees Provident Fund ICICI Prudential Life Insurance Company Limited Superannuation Scheme Name of the related party
97
financial Report
The following represents significant transactions between the Company and its related parties. Transactions for the year ended March 31, 2011:
(` 000)
Particulars Income Premium income Interest income Expenses Establishment & other expenditure Provident fund, Superannuation and Gratuity contribution Claims Others Share capital issued during the year Share premium Purchase of securities Sale of securities Repo transactions Redemption of Investments Purchase of Fixed Assets Sale of Fixed Assets

1
Holding company
Subsidiary Companies Key and having Management Fellow Substantial Personnel subsidiaries Interest 10,8881 163,7652 424,5373 2,320 89,081
Entities having Significant Influence 25,0847 479,4658
143,140 272,489 2,290,786 41,000
7,440,229 1,991,351 7,014,425 200,100 24 98
21,069,8464 4,352,4875 250,0006
Includes transactions with ICICI Prudential Asset Management Company Limited of ` 1,414 thousand, with ICICI Securities Limited of ` 1,095 thousand, with ICICI Lombard General Insurance Company Limited of ` 6,067 thousand, with ICICI Venture Limited of ` 2,076 thousand and ICICI Securities Primary Dealership Limited ` 236 thousand; Includes transactions with ICICI Home Finance Company Limited of ` 142,278 thousand and ICICI Securities Primary Dealership Limited ` 21,487 thousand; Establishment and other expenditure include expenses for sharing of common services and facilities, insurance commission, insurance premium, brokerage and business support. Expense also includes ` 16,562 thousand for brokerage paid to ICICI Securities Limited which is included in the cost of Investments; Includes transactions with ICICI Securities Primary Dealership Limited of ` 20,413,498 thousand and ICICI Lombard General Insurance Company Limited of ` 6,56,348 thousand; Includes transactions with ICICI Securities Primary Dealership Limited of ` 4,102,298 thousand and ICICI Lombard General Insurance Company Limited of ` 2,50,188 thousand; Represents transactions with ICICI Securities Primary Dealership Limited; Includes transactions with ICICI Prudential Life Insurance Company Limited Employees Group Gratuity Cum Life Insurance Scheme of ` 16,078 thousand and with ICICI Prudential Life Insurance Company Limited Employees Group Superannuation Scheme of ` 9,006 thousand; Includes transactions with ICICI Prudential Life Insurance Company Limited Employees Group Gratuity Cum Life Insurance Scheme of ` 16,034 thousand, with ICICI Prudential Life Insurance Company Limited Employees Group Superannuation Scheme of ` 9,006 thousand and with ICICI Prudential Life Insurance Company Limited Employees Provident Fund of ` 454,424 thousand.
6 7
98

Balances of Related parties as at March 31, 2011:
(` 000)
Particulars Assets Long term fixed deposits & corporate bonds/deposits Equity Cash & bank balances Income accrued on investments Other assets Liabilities Share capital Share premium Other liabilities

1
Holding company
Companies Subsidiary Key having and Fellow management substantial subsidiaries personnel interest
Entities having significant influence
3,469,136 202,523 45,957 5,604 10,553,109 24,684,412 123,521
1,679,7451 110,0002 46,062

3
3,707,329 8,672,901
36,2374 23,925
5
Includes investment in debentures of ` 1,479,512 thousand of ICICI Home Finance Company Limited and ` 200,233 thousand of ICICI Securities Primary Dealership Limited; Represents investment in equity of ` 110,000 thousand of ICICI Prudential Pension Funds Management Company Limited; Includes interest accrued on Debentures of ` 40,962 thousand of ICICI Home Finance Company Limited and ` 5,099 thousand of ICICI Securities Primary Dealership Limited; Includes advance premium of ` 35,279 thousand paid to ICICI Lombard General Insurance Company Limited; Other liabilities include expenses payable towards sharing of common services and facilities, insurance commission, business support and premium received in advance.
4 5
99
financial Report
Transactions for the year ended March 31, 2010:

(` 000)
Particulars
Holding company
Subsidiary Companies Key and having Management Fellow Substantial Personnel subsidiaries Interest 18,9191 181,8162 503,1933 6,734 500 105,130
Entities having Significant Influence 247,8607
Income Premium income Interest income Expenses Establishment & other expenditure Provident fund, Superannuation and Gratuity contribution Claims Others Share capital issued during the year Share premium Purchase of securities Investment in subsidiary Sale of securities Repo transactions Purchase of Fixed Assets Sale of Fixed Assets

1
98,711 420,219 3,177,044 52,100
507,2618
9,868,483 2,704,668 196,375,249 1,372 50
7,412,812 2,422,330 3,066,938

4
110,000
5 6
164
Includes transactions with ICICI Prudential Asset Management Company Limited of ` 4,452 thousand, with ICICI Securities Limited of ` 4,839 thousand and ICICI Lombard General Insurance Company Limited of ` 6,919 thousand; Includes transactions with ICICI Home Finance Company Limited of ` 160,840 thousand and ICICI Securities Primary Dealership Limited of ` 20,976 thousand; Establishment and other expenditure include expenses for sharing of common services and facilities, insurance commission, insurance premium, brokerage, business support and managerial remuneration. Expense also includes ` 15,638 thousand for brokerage paid to ICICI Securities Limited which is included in the cost of Investments; Includes transactions with ICICI Securities Primary Dealership Limited of ` 5,753,043 thousand, ICICI Lombard General Insurance Company Limited of ` 909,769 thousand and ICICI Home Finance Company Limited of ` 750,000 thousand; Includes transactions with ICICI Securities Primary Dealership Limited of ` 1,990,353 thousand and ICICI Lombard General Insurance Company Limited of ` 431,977 thousand; Represents transactions with ICICI Securities Primary Dealership Limited of ` 3,066,938 thousand; Includes transactions with ICICI Prudential Life Insurance Company Limited Employees Group Gratuity Cum Life Insurance Scheme of ` 236,973 thousand; Includes transactions with ICICI Prudential Life Insurance Company Limited Employees Group Gratuity Cum Life Insurance Scheme of ` 236,793 thousand and with ICICI Prudential Life Insurance Company Limited Employees Provident Fund of ` 259,401 thousand.
6 7
100

Balances of Related parties at March 31, 2010:
(` 000)
Particulars Assets Long term fixed deposits & corporate bonds/deposits Equity Cash & bank balances Income accrued on investments Other assets Liabilities Share capital Share premium Other liabilities

1
Holding company
Companies Subsidiary Key having and Fellow management substantial subsidiaries personnel interest
7,217,909 716,958 130,001 28,556 10,553,109 24,684,412 611,721
1,974,8421 110,0002 64,670 69,460

3 4
3,707,329 8,672,901
10,958
5
Includes investment in debentures of ` 1,769,951 thousand of ICICI Home Finance Company Limited and ` 204,891 thousand of ICICI Securities Primary Dealership Limited; Represents investment in equity of ` 110,000 thousand of ICICI Prudential Pension Funds Management Company Limited; Includes interest accrued on Debentures of ` 59,571 thousand of ICICI Home Finance Company Limited; Includes advance premium of ` 63,954 thousand paid to ICICI Lombard General Insurance Company Limited; Other liabilities include expenses payable towards sharing of common services and facilities, insurance commission, business support and premium received in advance.
3 4 5
3.17
Segmental Reporting
Income and expenses directly attributable or allocable to the segments are recorded and disclosed under the respective segments in the revenue account and profit and loss account, as applicable. Investments and policy liabilities are disclosed in the balance sheet under the respective segments. Net fixed assets of ` 1,982,628 thousand (Previous year ` 2,634,004 thousand) are disclosed in shareholders segment. Depreciation expense has been allocated as disclosed in Note 2.14. During the year ended March 31, 2011, the company has allocated the tax charge/credit to the respective nonparticipating line of business which, as per the management, would result in more appropriate presentation of the revenue account. As per the revised allocation policy, tax charge/credit on surplus/deficit arising from the non-participating taxable line of business will be disclosed separately in the revenue account.
101
financial Report
Segment wise information of current assets, loans, deferred tax asset and current liabilities and provisions to the extent identifiable are given below:
(` 000)
Business segments
Current Assets, Loans & Deferred Tax Asset March 31, 2011 4,623,757 745,675 130,285 NA NA 430,188 306,767 42,113 1,254,287 832,715 77,858 78,168 8,521,813 March 31, 2010 6,253,421 551,390 139,092 168 531 306,639 143,087 72,422 766,970 755,578 70,650 31,303 9,091,251
Current Liabilities & Provisions March 31, 2011 5,291,476 359,395 64,484 NA NA 395,148 53,706 115,296 6,107,057 2,822,603 111,944 624,653 15,945,762 March 31, 2010 9,060,527 26,585 33,471 1,164 11,120 570,537 116,123 160,115 4,064,210 1,384,304 118,436 469,261 16,015,853
Shareholders Par Life # Par Pension # Par Group Life # Par Group Pension # Non-Par Annuity Non-Par Health Linked Life Linked Pension Linked Health Linked Group Total
Segment-wise information of non-cash items being amortisation of premium included in interest income on debt instruments is tabled below:
(` 000)
Business segments Shareholders Par Life # Par Pension # Par Group Life # Par Group Pension # Non-Par Annuity Non-Par Health Linked Life Linked Pension Linked Health Linked Group Total
March 31, 2011 (471,675) 7,946 (3,380) NA NA (12,669) (1,540) (453) (25,806) (9,582) 828 (17,569) (533,900)
March 31, 2010 (55,513) 4,096 (2,007) (652) (1,523) (11,207) (2,172) (638) 18,077 13,341 657 1,444 (36,097)
102
3.18
(` 000)
Linked Life Funds Balancer Fund Bluechip Fund Cash Plus Fund Discontinued Fund - Life Dynamic P/E Fund Flexi Balanced Fund Flexi Growth Fund Income Fund Maximiser Fund Highest NAV Fund B Invest Shield Fund - Life Money Market Fund Multi Cap Balanced Fund
Fund Balance Sheet as at March 31, 2011
Form A-BS(UL)
Particulars
Schedule
Anmol Nivesh Fund
Sources of funds
Policyholders' funds 2,501 (113) 2,388 20,285,686 550,751 6,047,845 138 9,005,139 2,667,591 65,917,831 852,382 1,607,178 1,864,201 12,972,086 (16,385) 335,306 1 (30,713) 460,988 15,882,225 17,230 (10,089) 272,723 7,313,600 567,136 5,712,539 137 9,035,852 2,206,603 50,035,606 835,152 1,617,267 1,591,478 32,356,529 54,663,583 87,020,112 852,908 10,511 863,419 582,441 (3,750) 578,691
Policyholder contribution
F-1
Revenue account
Total
Application of funds 2,338 50 50 2,388 20,285,686 550,751 6,047,845 138 9,005,139 2,667,591 65,917,831 341,327 14,665 135,679 (103) 256,585 26,812 581,828 24,130 3,973 230 113 85,315 4,589 703,452 50,020 183,666 852,382 365,457 18,638 135,909 10 341,900 31,401 1,285,280 233,686 19,944,359 536,086 5,912,166 241 8,748,554 2,640,779 65,336,003 668,716 1,555,442 51,800 64 51,736 1,607,178 1,835,280 28,992 71 28,921 1,864,201 86,949,453 718,723 648,064 70,659 87,020,112 842,519 20,921 21 20,900 863,419 553,096 25,618 23 25,595 578,691
Investments
F-2
Current assets
F-3
Less: Current liabilities and provisions
F-4
Net Current Assets
Total
(a) Net asset as per balance sheet (Total assets less current liabilities and provisions) (` 000) 2,388 214 11.16 29.97 10.93 15.69 10.04 11.64 676,914 50,397 385,453 14 773,369 186,536 14.30 20,285,686 550,751 6,047,845 138 9,005,139 2,667,591
65,917,831 4,402,096 14.97
852,382 81,669 10.44
1,607,178 147,898 10.87
1,864,201 98,832 18.86
87,020,112 1,607,566 54.13
863,419 79,900 10.81
578,691 53,473 10.82
(b) Number of units outstanding (in '000)
(c) NAV per unit (a)/ (b) (`)
103
104
(` 000)
Linked Life Funds Multiplier Fund New Invest Shield Balanced Fund Opportunties Fund Pinnacle Fund Pinnacle Fund II Preserver Fund Protector Fund Return Guarantee Fund Return Guarantee Fund II Return Guarantee Fund III Return Guarantee Fund IV Return Guarantee Fund V Return Guarantee Fund VI 17,654,761 5,679,754 23,334,515 2,488,214 1,236,854 6,337,125 1,963,425 3,561,798 15,516,633 631,404 662,686 654,504 330,961 (26,063) (77,743) (17,491) 812,843 3,892,003 42,585 37,228 31,073 2,157,253 1,262,917 6,414,868 1,980,916 2,748,955 11,624,630 588,819 625,458 623,431 269,715 6,924 276,639 116,665 (2,915) 113,750 110,669 280 110,949 22,599,149 801,206 65,840 735,366 23,334,515 2,488,214 1,236,854 6,337,125 1,963,425 3,561,798 15,516,633 38,937 52,668 73,126 (6,484) 61,570 341,068 9,519 49 150,275 20,009 261 1,337 237 40,387 631,404 48,456 52,717 223,401 13,525 61,831 342,405 40,624 2,449,277 1,184,186 6,263,999 1,969,909 3,500,228 15,175,565 591,017 625,987 37,016 317 36,699 662,686 618,484 36,313 293 36,020 654,504 258,251 18,456 68 18,388 276,639 110,679 3,101 30 3,071 113,750 107,759 3,202 12 3,190 110,949
3.18
Fund Balance Sheet as at March 31, 2011 (Contd.)
Form A-BS(UL)
Particulars
Schedule
Multi Cap Growth Fund
Sources of funds
Policyholders' funds
F-1
4,849,318
Revenue account
(82,632)
Total
4,766,686
Application of funds
Investments
F-2
4,635,712
financial Report
Current assets 7,711
F-3
138,685
F-4
Net Current Assets
130,974
Total
4,766,686
(a) Net asset as per balance sheet (Total assets less current liabilities and provisions) (` 000) 23,334,515 2,177,467 10.72 15.94 11.27 11.63 9.63 156,080 109,712 544,832 203,908 220,597 16.15 2,488,214 1,236,854 6,337,125 1,963,425 3,561,798
4,766,686
15,516,633 904,174 17.16
631,404 51,551 12.25
662,686 55,738 11.89
654,504 56,008 11.69
276,639 24,118 11.47
113,750 10,299 11.04
110,949 10,065 11.02
(b) Number of units outstanding (in 000) 11.46
416,072
3.18
(` 000)
Linked Life Funds
Form A-BS(UL)
Particulars RICH Fund Secure Plus Fund
Schedule
Return Guarantee Fund VII
Return Guarantee Fund VIII (10 Yrs)
Return Guarantee Fund IX (10 Yrs)
Return Guarantee Fund X (10 Yrs)
Return Guarantee Fund XI (5 Yrs)
Secure Save Builder Fund
Secure Save Guarantee Fund
Total
Sources of funds
Policyholders' funds 43,080 (1,034) 42,046 272,719 970,901 131,496 1,254,093 441,664 2,617,708 889,985 32,688,141 6,506 4,459 2,595 11,024 4,832 20,887 86 5,076,489 60,244 366,082 266,213 966,442 128,901 1,243,069 436,832 2,596,821 889,899 27,611,652 305,838 21,915 (63) 21,852 91,440 (2,774) 88,666 198,340,226 100,363,661 298,703,887
F-1
Revenue Account
Total
Application of funds 40,924 1,141 19 1,122 42,046 272,719 970,901 131,496 1,254,093 441,664 5,442 29,987 2,676 40,628 28,224 82,961 2,617,708 12 164 6 57 19 118 5,454 30,151 2,682 40,685 28,243 83,079 249,146 29 249,117 889,985 267,277 940,914 128,820 1,213,465 413,440 2,534,747 640,868 32,505,151 184,827 1,837 182,990 32,688,141 357,480 8,616 14 8,602 366,082 21,629 224 1 223 21,852 87,483 1,188 5 1,183 88,666 294,767,432 5,714,759 1,778,304 3,936,455 298,703,887
Investments
F-2
Current Assets
F-3
Less: Current Liabilities and Provisions
F-4
Net Current Assets
Total
(a) Net asset as per balance sheet (Total assets less current liabilities and provisions) (` 000) 42,046 3,949 10.65 10.33 10.12 10.24 10.13 26,410 95,961 12,847 123,771 43,108 10.25 272,719 970,901 131,496 1,254,093 441,664
2,617,708 258,006 10.15
889,985 88,551 10.05
32,688,141 2,316,945 14.11
366,082 23,074 15.87
21,852 1,817 12.03
88,666 7,718 11.49
298,703,887 16,487,107
(b) Number of units outstanding (in 000)
105
106
(` 000)
Linked Pension Funds Pension Balancer Fund Pension Flexi Growth Fund Pension Bluechip Fund Pension Dynamic P/E Fund Pension Flexi Balanced Fund Pension Income Fund Pension Maximiser Fund Pension Money Market Fund Pension Multi Cap Balanced Fund Pension Multi Cap Growth Fund Pension Multiplier Fund Pension Opportunities Fund 290,062 83,497 373,559 14,581,759 1,395,990 11,127,578 2,823,860 64,450,737 3,843,651 32,827,880 1,023,436 1,285,084 4,928,308 (49,733) 44,934 431,614 15,307,930 (197,567) 16,512,817 (26,971) (45,917) 9,653,451 1,445,723 11,082,644 2,392,246 49,142,807 4,041,218 16,315,063 1,050,407 1,331,001 9,268,395 120,391 9,388,786 11,054,066 2,029,875 13,083,941 4,285,675 (67,346) 4,218,329 367,499 6,574 514 6,060 373,559 14,581,759 1,395,990 11,127,578 2,823,860 64,450,737 3,843,651 32,827,880 222,619 20,895 140,124 32,139 1,015,547 89,678 6,467 680 20,476 449 129 230,675 155 224,602 223,299 41,371 140,573 32,268 1,246,222 89,833 231,069 15,276 76 15,200 1,023,436 14,359,140 1,375,095 10,987,454 2,791,721 63,435,190 3,753,973 32,821,413 1,008,236 1,250,346 34,790 52 34,738 1,285,084 9,278,176 115,089 4,479 110,610 9,388,786 13,018,306 66,408 773 65,635 13,083,941 4,121,198 97,302 171 97,131 4,218,329
3.18
Form A-BS(UL)
Particulars
Schedule
Invest Shield Fund - Pension
Sources of funds
F-1
Revenue Account
Total
Investments
F-2
financial Report
Current Assets
F-3
F-4
Net Current Assets
Total
(a) Net asset as per Balance Sheet (Total Assets less Current Liabilities and Provisions) (` '000) 373,559 14,581,759 1,395,990 11,127,578 2,823,860 64,450,737 3,843,651 19,500 19.16 26.07 10.49 11.45 14.92 15.47 559,241 133,021 972,015 189,293 4,165,525 359,386 10.70
32,827,880
1,023,436
1,285,084
9,388,786
13,083,941
4,218,329
(b) Number of Units outstanding (in '000)
736,223 44.59
95,104 10.76
122,614 10.48
841,068 11.16
1,181,390 11.08
387,455 10.89
3.18
(` 000)
Linked Pension Funds
Form A-BS(UL)
Particulars Pension RICH Fund
Schedule
Pension Preserver Fund
Pension Protector Fund
Pension Return Guarantee Fund
Pension Return Guarantee Fund II
Pension Return Guarantee Fund III
Pension Return Guarantee Fund IV
Pension Return Guarantee Fund V
Pension Return Guarantee Fund VI
Pension Return Guarantee Fund VII
Pension Return Guarantee Fund VIII
Pension Return Guarantee Fund IX (10 Yrs) Secure Plus Pension Fund
Pension Return Guarantee Fund X (10 Yrs)
Total
Sources of funds
Policyholders' funds 17,678,527 2,362,934 20,041,461 2,096,586 1,896,552 1,816,587 652,985 330,811 435,394 731,166 136,692 44,691 226,317 230,490 201,259 51,560 14,233 18,317 1,075 3,670 930 1,455 102,847 1,870,269 1,666,062 1,615,328 601,425 316,578 417,077 730,091 133,022 43,761 101,392 40,418,401 8,978,648 49,397,049 121,844 35,198 157,042 190,772,414 51,505,768 242,278,182
F-1
3,705,879
Revenue Account
307,850
Total
4,013,729
Application of funds 19,600,026 442,202 767 441,435 20,041,461 2,096,586 1,896,552 1,816,587 652,985 330,811 435,394 121,476 61,619 92,396 43,239 10,058 12,109 23,523 731,166 340 313 209 112 146 79 70 121,816 61,932 92,605 43,351 10,204 12,188 23,593 2,751 6 2,745 136,692 1,975,110 1,834,933 1,724,191 609,746 320,753 423,285 707,643 133,947 43,792 901 2 899 44,691 91,601 11,250 4 11,246 102,847 48,721,110 719,300 43,361 675,939 49,397,049 154,023 3,025 6 3,019 157,042 238,880,067 3,926,858 528,743 3,398,115 242,278,182
Investments
F-2
3,972,160
Current Assets 97
F-3
41,666
F-4
Net Current Assets
41,569
Total
4,013,729
(a) Net asset as per Balance Sheet (Total Assets less Current Liabilities and Provisions) (` 000) 20,041,461 1,164,439 17.21 12.24 11.85 11.68 11.47 171,331 160,081 155,486 56,927 29,943 11.05 2,096,586 1,896,552 1,816,587 652,985 330,811
4,013,729
435,394 39,536 11.01
731,166 68,764 10.63
136,692 13,236 10.33
44,691 4,371 10.23
102,847 10,057 10.23
49,397,049 3,530,743 13.99
157,042 10,094 15.56
242,278,182 15,424,287
(b) Number of Units outstanding (in 000) 16.22
247,444
107
108
(` 000)
Linked Health Funds Health Flexi Balanced Fund Health Multiplier Fund Health Preserver Fund Health Protector Fund Health Flexi Growth Fund Health Return Guarantee Fund Health Return Guarantee Fund II Health Return Guarantee Fund III Health Return Guarantee Fund IV Health Return Guarantee Fund V Health Return Guarantee Fund VI Health Return Guarantee Fund VII Health Return Guarantee Fund IX (5 Yrs) Total 92,939 (24,781) 68,158 1,222,647 169,585 14,548 350,195 30,521 31,619 33,105 15,822 7,101 (410,360) (49,601) (5,243) (157,159) (37,946) (45,244) (44,840) (19,931) (10,787) (6,171) 4,488 1,633,007 219,186 19,791 507,354 68,467 76,863 77,945 35,753 17,888 10,659 5,779 (3,060) 2,719 20 (1) 19 2,865,621 (842,288) 2,023,333
3.18
Form A-BS(UL)
Particulars
Schedule
Health Balancer Fund
Sources of funds
F-1
99,970
Revenue Account
(27,164)
Total
72,806
Application of funds 64,995 3,165 2 3,163 68,158 1,222,647 169,585 14,548 350,195 30,521 31,619 44,853 3,430 446 15,602 3,156 2,227 1,896 33,105 54 1,223 1 8 6 20 3 44,907 4,653 447 15,610 3,162 2,247 1,899 1,395 2 1,393 15,822 1,177,794 166,155 14,102 334,593 27,365 29,392 31,209 14,429 6,524 577 577 7,101 4,263 225 225 4,488 2,637 82 82 2,719 18 1 1 19 1,943,499 81,218 1,384 79,834 2,023,333
financial Report
Investments 2,848 65 2,783
F-2
70,023
Current Assets
F-3
F-4
Net Current Assets
Total
72,806
(a) Net asset as per Balance Sheet (Total Assets less Current Liabilities and Provisions) (` 000) 68,158 4,197 16.24 20.86 21.02 11.66 12.17 58,609 8,067 1,248 28,779 2,508 12.17 1,222,647 169,585 14,548 350,195 30,521 5,088 14.31
72,806
31,619 2,659 11.89
33,105 2,824 11.72
15,822 1,367 11.57
7,101 635 11.19
4,488 407 11.04
2,719 256 10.63
19 2 10.31
2,023,333 116,644
(b) Number of Units outstanding (in 000)
3.18 Fund Balance Sheet as at March 31, 2011 (Contd.) Form A-BS(UL)
(` 000)
Linked Group Funds Group Capital Guarantee Balanced Fund Group Debt Fund Group Growth Fund Group Capital Guarantee Debt Fund Group Capital Guarantee Growth Fund Group Capital Guarantee Short Term Debt Fund Group Leave Encashment Balance Fund Group Leave Encashment Income Fund Group Leave Encashment Short Term Fund
Particulars
Schedule
Group Balanced Fund
Sources of funds
Policyholders' funds 12,785,055 3,472,375 16,257,430 2,110,080 413,830 65,637 2,363,028 6,197,305 5,789,332 340,451 351,193 20,754 559,832 1,021,402 1,718,290 107,408 515,087 1,769,629 62,637 44,883 1,803,196 5,175,903 4,071,042 407,679 44,226 4,434 48,660 27,399 4,960 32,359
F-1
Revenue Account
Total
Application of funds 15,944,830 313,238 638 312,600 16,257,430 2,110,080 413,830 65,637 2,363,028 46,821 8,827 1,232 29,722 97,113 6,197,305 109 40 4 102 22,660 46,930 8,867 1,236 29,824 119,773 2,063,259 405,003 64,405 2,333,306 6,100,192 5,689,210 100,348 226 100,122 5,789,332 501,915 13,192 20 13,172 515,087 47,528 1,134 2 1,132 48,660 21,899 10,462 2 10,460 32,359
Investments
F-2
Current Assets
F-3
F-4
Net Current Assets
Total
(a) Net asset as per Balance Sheet (Total Assets less Current Liabilities and Provisions) (` 000) 16,257,430 706,797 23.00 14.40 15.16 14.46 146,533 27,295 4,540 172,712 13.68 2,110,080 413,830 65,637 2,363,028
6,197,305 354,749 17.47
5,789,332 176,360 32.83
515,087 38,752 13.29
48,660 4,454 10.92
32,359 3,036 10.66
109
110
(` 000)
Linked Group Funds Group Return Guarantee Fund - A4 Group Short Term Debt fund Total Group Return Guarantee Fund - S5 Group Return Guarantee Fund - S6 Group Return Guarantee Fund II Group Return Guarantee Fund III Group Superannuation Corporate Bond Fund Grand Total 2,287,690 391,701 2,679,391 65,153 124,763 208 124,588 2,270,347 4,635,389 1,567,358 286 14,877 210,401 1,347,905 7,710 64,867 124,763 208 109,711 2,059,946 3,287,484 1,559,648 35,685,966 9,573,979 45,259,945 427,664,227 160,601,120 588,265,347 2,516,217 163,448 274 163,174 2,679,391 65,153 124,763 208 124,588 2,270,347 1,048 124,763 208 13,422 99,067 3 13 119 399 182,573 4,635,389 1,051 124,763 208 13,435 99,186 182,972 64,105 111,166 2,171,280 4,452,816 1,537,988 29,432 62 29,370 1,567,358 44,025,119 1,259,499 24,673 1,234,826 45,259,945 579,616,117 10,982,334 2,333,104 8,649,230 588,265,347
3.18 Fund Balance Sheet as at March 31, 2011 (Contd.) Form A-BS(UL)
Particulars
Schedule
Group Return Guarantee Fund
Sources of funds
F-1
Revenue Account
Total
Investments
F-2
financial Report
Current Assets
F-3
F-4
Net Current Assets
Total
(a) Net asset as per Balance Sheet (Total Assets less Current Liabilities and Provisions) (` 000) 2,679,391 226,901 11.81 10.04 10.00 10.01 11.38 6,487 12,476 21 10,948 65,153 124,763 208 124,588
2,270,347 205,665 11.04
4,635,389 280,810 16.51
1,567,358 155,951 10.05
45,259,945 2,534,486
588,265,347 34,562,524
Schedule F 1
(` 000)
Linked Life Funds Balancer Fund Discontinued Fund - Life 138 1 137 9,035,852 2,206,603 50,035,606 835,152 1,617,267 1,591,478 31,344 631,427 22,377,097 60 45,830 52,236 37,850,833 32,356,529 8,855,714 609,955 12,530,200 835,212 1,479,785 261,738 7,639,560 211,482 2,228,075 59,882,503 183,312 1,381,976 62,567,802 28,595 1,039,874 215,561 852,908 11,233,895 2,671,232 6,591,527 7,313,600 567,136 5,712,539 153 334,225 476,952 1,304,915 90,337 4,741,849 Bluechip Fund Cash Plus Fund Dynamic P/E Fund Flexi Balanced Fund Highest NAV Fund B Income Fund Maximiser Fund Flexi Growth Fund Invest Shield Fund - Life Money Market Fund Multi Cap Balanced Fund 40,980 541,571 110 582,441
Policyholders contribution As at March 31, 2011
Particulars
Anmol Nivesh Fund
Opening balance
186
Add: Additions during the year*
2,317
Less: Deductions during the year**
Closing balance
2,501
* Represents unit creation
** Represents unit cancellations
(` 000)
Linked Life Funds Multiplier Fund 18,268,494 4,338,128 4,951,861 17,654,761 2,157,253 1,262,917 6,414,868 1,980,916 2,748,955 11,624,630 179,338 379 5,585 89 1,873,253 5,407,954 394,273 1,112,079 3,353,294 1,981,005 1,870,722 6,424,570 1,942,318 151,217 3,067,159 2,751,486 10,608,014 621,167 32,348 588,819 New Invest Shield Balanced Fund Opportunities Fund Pinnacle Fund Pinnacle Fund II Preserver Fund Protector Fund Return Guarantee Fund Return Guarantee Fund II 658,430 32,972 625,458 Return Guarantee Fund III 658,984 35,553 623,431 Return Guarantee Fund IV 289,530 19,815 269,715 Return Guarantee Fund V 125,799 9,134 116,665 Return Guarantee Fund VI 119,823 9,154 110,669
Particulars
Opening balance
650,280
4,381,860
182,822
Closing balance
4,849,318
(` 000)
Linked Life Funds
Particulars
Return Guarantee Fund VII 271,470 5,257 266,213 966,442 972 967,414 128,988 87 128,901 1,243,167 98 1,243,069
Return Guarantee Fund X (10 Yrs) 436,881 49 436,832
Return Guarantee Fund X (5 Yrs) 2,597,726 905 2,596,821
Return Guarantee Fund XI (5 Yrs) 889,903 4 889,899
RICH Fund
Secure Plus Fund
Secure Save Guarantee Fund 18,702,068 9,798,727 889,143 27,611,652 278,462 48,180 20,804 305,838 10,823 11,095 3 21,915 45,822 46,278 660 91,440
Total
Opening balance
48,192
201,589,060 78,544,927 81,793,761 198,340,226
5,116
Closing balance
43,080
111
112
(` 000)
Linked Pension Funds Pension Balancer Fund Pension Income Fund 1,595,184 2,458,157 12,123 4,041,218 16,315,063 1,050,407 1,331,001 9,268,395 10,774,479 354,005 41,150 434,354 3,497,572 1,016,052 807,821 5,733,354 23,591,970 388,360 564,330 3,969,395 9,200,897 3,031,312 1,178,143 11,054,066 8,993,156 2,862,885 2,202,590 9,653,451 1,445,723 11,082,644 2,392,246 49,142,807 5,524 38,315 383,462 14,669,606 923,832 7,940,645 668,649 14,011,409 527,415 3,180,314 2,107,059 49,801,004 Pension Bluechip Fund Pension Dynamic P/E Fund Pension Flexi Balanced Fund Pension Flexi Growth Fund Pension Maximiser Fund Pension Money Market Fund Pension Multi Cap Balanced Fund Pension Multi Cap Growth Fund Pension Multiplier Fund Pension Opportunities Fund 1,745,390 2,552,033 11,748 4,285,675
Schedule F 1
Policyholders contribution As at March 2011 (Contd.)
Particulars
Opening balance
252,041
51,591
13,570
Closing balance
290,062
* Represents unit creation ** Represents unit cancellations
(` 000)
financial Report
Particulars
Pension Return Guarantee Fund 1,967,078 96,809 1,870,269 1,666,062 1,615,328 601,425 316,578 417,077 93,017 131,093 47,615 30,710 29,933 1,429 60,068 730,091 1,759,079 1,746,421 649,040 347,288 445,581 790,159 133,381 359 133,022
Pension Return Guarantee Fund IX (10 Yrs) 43,761 43,761
Pension Return Guarantee Fund X (10 Yrs) 101,530 138 101,392
Pension RICH Fund
Secure Plus Pension Fund 29,363,906 12,957,817 1,903,322 40,418,401 113,296 16,719 8,171 121,844
Total
Opening balance
2,406,413
12,096,073
157,600,849 68,759,343 35,587,778 190,772,414
2,053,122
7,896,272
753,656
2,313,818
Closing balance
3,705,879
17,678,527
(` 000)
Linked Health Funds
Particulars
Health Balancer Fund 41,074 51,950 85 92,939 1,633,007 8,735 204 219,186 889,765 116,278 751,977 103,112 8,854 10,943 6 19,791
Health Flexi Balanced Fund Health Multiplier Fund Health Preserver Fund Health Protector Fund
Health Flexi Growth Fund
Health Return Guarantee Fund 245,421 262,903 970 507,354 69,639 1,172 68,467
Health Return Guarantee Fund II 77,603 740 76,863
Health Return Guarantee Fund III 78,708 763 77,945
Health Return Guarantee Fund IV 36,277 524 35,753
Health Return Guarantee Fund V 18,356 468 17,888
Health Return Guarantee Fund VI 10,660 16 17 10,659
Health Return Guarantee Fund VII 5,758 27 6 5,779
Health Return Guarantee Fund IX (5 Yrs) 20 20
Total
Opening balance
46,695
1,494,134 1,386,067 14,580 2,865,621
54,165
890
Closing balance
99,970
Schedule F 1
(` 000)
Linked Group Funds Group Capital Guarantee Balanced Fund Group Debt Fund 4,897,201 2,306,027 2,027,325 5,175,903 4,071,042 407,679 1,217,004 85 1,540,767 9,347 7,775 7,469 44,226 3,747,279 398,417 43,920 Group Growth Fund 1,652,847 333,054 216,272 1,769,629 62,637 44,883 1,803,196 79,938 4,738 189,052 102,837 16,775 223,663 39,738 32,846 1,768,585 Group Capital Guarantee Debt Fund Group Capital Guarantee Growth Fund Group Capital Guarantee Short Term Debt Fund Group Leave Encashment Balance Fund Group Leave Encashment Income Fund Group Leave Encashment Short Term Fund 17,322 16,197 6,120 27,399
Policyholders contribution As at March 31, 2011 (Contd.)
Particulars
Group Balanced Fund
Opening balance
7,836,205
7,648,575
2,699,725
Closing balance
12,785,055
(` 000)
Linked Group Funds Grand Total Total Group Return Guarantee Fund - A4 Group Return Guarantee Fund II Group Return Guarantee Fund III 64,867 64,867 124,763 208 109,711 1,967 124,763 208 1,261 110,417 2,036,586 23,360 2,059,946 Group Return Guarantee Fund - S5 Group Return Guarantee Fund - S6 Group Short Term Debt fund Group Superannuation Corporate Bond Fund 5,551,126 4,967,723 7,231,365 3,287,484 1,561,044 1,396 1,559,648
Particulars
Opening balance
2,278,279
30,410,768 18,959,714 13,684,516 35,685,966
391,094,811 167,650,051 131,080,635 427,664,227
11,471
2,060
Closing balance
2,287,690
113
114
(` 000)
Linked Life Funds Bluechip Fund Cash Plus Fund Discontinued Fund - Life Dynamic P/E Fund Flexi Balanced Fund Highest NAV Fund B Income Fund Invest Shield Fund - Life Maximiser Fund Money Market Fund Flexi Growth Fund Multi Cap Balanced Fund 70 463,948 10,553 5,303 479,874 5,912,166 241 8,364,335 2,464,881 58,807,426 626,498 1,538,377 322,045 299,296 1,522,455 4,454 67,048 1,647 24,152 6,200 1,744 2,092,381 241 424,375 893,052 46,194 945,436 514,342 2,546 358,913 1,809,955 7,996,281 1,276,137 57,873,917 434,664 479,896 567,341 120,918 11,834 118,414 1,606,813 1,551 318,188 16,305 263,773 334,173 73,782,185 5,432,512 34,546 139,110 79,388,353 102,800 299,455 1,571 139,440 372 1,671 8,738 626,031 8,463 195,343 838,575 62 20,819 1,180 244,809 185,647 1,012 55,905 509,434 1,633
Schedule: F - 2
INVESTMENTS AS AT MARCH 31, 2011
Particulars
Anmol Nivesh Fund
Balancer Fund
Approved Investments
Government Bonds
276,897
Corporate Bonds
4,422,037
Infrastructure Bonds
62
2,206,451
Equity
6,361,072
Money Market
779
2,758,916
Mutual Funds
20
financial Report
Deposit with Banks
1,477
3,094,025
Total
2,338
19,121,031
Other Investments 37,703 18,509 56,212 536,086 89.51% 10.49% 0.00% 0.00% 100.00% 100.00% 5,912,166 241 8,748,554 95.61% 4.39% 384,219 175,898 2,640,779 93.34% 6.66% 384,219 175,898 6,528,577 6,528,577 65,336,003 90.01% 9.99% 20,706 21,512 42,218 668,716 93.69% 6.31% 32,987 32,987 1,555,442 97.88% 2.12% 25,325 25,325 1,835,280 98.62% 1.38% 7,561,100 7,561,100 86,949,453 91.30% 8.70% 3,944 3,944 842,519 99.53% 0.47% 43,662 43,662 553,096 92.11% 7.89%
Corporate Bonds
128,461
Equity
694,867
Money Market
Mutual Funds
Venture Fund
Total
823,328
Grand Total
2,338
19,944,359
% of approved investments to Total 4.13%
100.00%
95.87%
% of other investments to Total
0.00%
Schedule: F-2
(` 000)
Linked Life Funds Pinnacle Fund Pinnacle Fund II Preserver Fund Protector Fund
INVESTMENTS As AT MARCH 31, 2011 (Contd.)
Particulars Opportunities Fund
Multiplier Fund
New Invest Shield Balanced Fund Return Guarantee Fund Return Guarantee Fund II Return Guarantee Fund III Return Guarantee Fund IV Return Guarantee Fund V
Return Guarantee Fund VI
Approved Investments 6,116 894,624 579,013 3,075 423,216 2,406,750 1,015,946 6,014,940 1,883,995 3,467,590 15,015,317 589,331 864,066 4,201,515 120,876 100,441 614,603 11,892 61,230 19,498 35,149 6,600 6,315 6,628 69,692 2,568,375 4,792,921 934,238 4,156,492 1,484,025 6,546 111,410 613,352 130,447 1,974,137 72,442 74,279 60,837 374,413 124 845 324 4,038,382 389,698 433,255 434,559 157,091 42,418 2,766 53,090 255,365 1,962 1,796,373 380,148 1,762 66,380 26,007 1,137 15,624 109,148 56,864 30,491 1,109 17,316 105,780
Government Bonds
Corporate Bonds
1,342
Equity 243,376 15,637
3,498,833
20,180,251
Money Market
713,858
Mutual Funds
21,660
Deposit with Banks
Total
4,235,693
20,445,380
Other Investments 25,644 16,883 42,527 2,449,277 98.26% 1.74% 14.21% 3.98% 85.79% 96.02% 1,184,186 6,263,999 168,240 249,059 85,914 1,969,909 95.64% 4.36% 41,444 47,212 14,960 32,638 32,638 3,500,228 99.07% 0.93% 126,796 201,847 70,954 160,248 15,175,565 98.94% 1.06% 160,248 1,686 1,686 591,017 99.71% 0.29% 11,384 11,384 625,987 98.18% 1.82% 5,132 5,132 618,484 99.17% 0.83% 2,886 2,886 258,251 98.88% 1.12% 1,531 1,531 110,679 98.62% 1.38% 1,979 1,979 107,759 98.16% 1.84%
Corporate Bonds
Equity
400,019
2,153,769
Money Market
Mutual Funds
Venture Fund
Total
400,019
2,153,769
Grand Total 90.47% 9.53%
4,635,712
22,599,149
% of approved investments to Total
91.37%
8.63%
115
116
(` 000)
Linked Life Funds Return Guarantee Fund VIII (5 Yrs) RICH Fund Secure Plus Fund Secure Save Builder Fund Secure Save Guarantee Fund Return Guarantee Fund IX (10 Yrs) Return Guarantee Fund IX (5 Yrs) Return Guarantee Fund X (10 Yrs) Return Guarantee Fund X (5 Yrs) Return Guarantee Fund XI (5 Yrs) Total 143,209 67,729 2,726 50,830 264,494 923,355 128,820 1,163,426 406,978 2,531,633 618,782 90,400 21,300 47,800 64,845 479,644 116,700 600,000 30,071,232 9,708 223 11,161 4,208 26,088 6,514 10,993 105,832 180,580 1,101,897 80,639 357 91,086 355,854 28,348,183 56,516 202,150 8,380 365,898 26,324 534,619 92,126 34,432 621,097 27,247 738,567 87,598 1,385,450 222,862 10,159 92,376 1,209 553 14,058 2,428 61 2,210 20,521 71,670 224,003 448 2 14 10,628 3,385 30,653 22,546 832 17,032 85,090 3,441,859 16,234,858 6,723,672 208,510,782 24,391,616 431,302 13,496,998 273,231,087
Schedule: F - 2
INVESTMENTS AS AT MARCH 31, 2011 (Contd.)
Particulars
Government Bonds
Corporate Bonds
26,814
9,809
Equity
Money Market
Mutual Funds
421
financial Report
Deposit with Banks
3,106
Total
40,150
Other Investments 2,783 2,783 267,277 98.96% 1.04% 1.87% 0.00% 98.13% 100.00% 95.88% 4.12% 940,914 128,820 1,213,465 17,559 50,039 6,462 413,440 98.44% 1.56% 17,559 6,462 3,114 3,114 2,534,747 99.88% 0.12% 50,039 22,086 22,086 640,868 96.55% 3.45% 2,433,919 2,433,919 32,505,151 92.51% 7.49% 1,626 1,626 357,480 99.55% 0.45% 1,108 1,108 21,629 94.88% 5.12% 2,393 2,393 87,483 97.26% 2.74% 371,735 20,890,132 257,595 16,883 21,536,345 294,767,432 92.69% 7.31%
Corporate Bonds
Equity
Money Market
Mutual Funds
774
Venture Fund
Total
774
Grand Total
40,924
98.11%
1.89%
Schedule: F - 2
(` 000)
Linked Pension Funds Pension Dynamic P/E Fund Pension Flexi Growth Fund Pension Income Fund Pension Maximiser Fund Pension Money Market Fund Pension Multi Cap Balanced Fund Pension Multi Cap Growth Fund Pension Multiplier Fund Pension Flexi Balanced Fund Pension Opportunities Fund
Particulars
Invest Shield Pension Pension Fund - Pension Balancer Fund Bluechip Fund
Approved Investments 2,300 2,372,350 1,243,732 5,155,997 2,788,209 5,354 2,334,737 1,261,546 10,498,722 2,619,378 57,786,903 3,707,994 29,582,591 1,008,236 338,290 30,800 907,711 187,260 241,994 13,751 39,887 1,930 3,087 4,401 43,081 9,047 545,585 1,650,182 2,153,601 1,787,908 743,952 333,592 1,719 144,202 1,162,073 1,247,691 10,094,669 1,393,889 55,933,208 27,556,527 594,683 72,226 155,512 65,374 13,243 9,036 104 2,148 265,852 14,114 575,961 7,815 78,566 4,698 7,682,863 793,206 11,865 248,185 8,740,817 362,018 1,606 946 275 12,011,446 117,192 13,233 12,141,871 1,378 3,568,499 187,259 41,634 3,798,770
Government Bonds
69
Corporate Bonds
66,456
19,982
Equity
96,080
Money Market
112,996
Mutual Funds
505
Deposit with Banks
66,780
Total
362,868
13,902,679
Other Investments 143,875 312,586 456,461 1,375,095 91.74% 8.26% 4.45% 95.55% 93.83% 6.17% 10,987,454 2,791,721 113,549 488,732 172,343 5,648,287 63,435,190 91.10% 8.90% 38,836 45,979 3,753,973 98.78% 1.22% 74,713 488,732 172,343 5,648,287 45,979 3,238,822 3,238,822 32,821,413 90.13% 9.87% 1,008,236 100.00% 0.00% 88,273 88,273 1,250,346 92.94% 7.06% 537,359 537,359 9,278,176 94.21% 5.79% 876,435 876,435 13,018,306 93.27% 6.73% 282,123 40,305 322,428 4,121,198 92.18% 7.82%
Corporate Bonds
Equity
4,631
Money Market
Mutual Funds
Venture Fund
Total
4,631
Grand Total 96.82% 3.18%
367,499
14,359,140
98.74%
1.26%
117
118
(` 000)
Linked Pension Funds Pension Return Guarantee Fund Pension RICH Fund Pension Return Guarantee Fund II Pension Return Guarantee Fund III Pension Return Guarantee Fund IV Pension Return Guarantee Fund V Pension Return Guarantee Fund VI Pension Return Guarantee Fund VII Pension Return Guarantee Fund VIII Pension Return Guarantee Fund IX (10 Yrs) Pension Return Guarantee Fund X (10 Yrs) Secure Plus Pension Fund Total 1,233,536 278,866 9,487 453,221 1,975,110 1,834,933 1,723,540 609,746 317,435 418,101 695,978 133,579 525,997 346,549 130,237 9,600 24,500 25,450 5,049 18,163 6,244 3,309 4,353 7,310 1,366 260 7,825 43,792 3,758 933 16,950 90,075 325,517 206,529 121,317 81,393 141,868 163,597 3,727 978,370 1,152,299 351,948 223,133 271,880 500,571 33,339 11,651 15,445 73,424 24,056 49,262 8,919 43,062,098 2,002,142 12,545 369,000 45,454,704 33 36,882 16,766 25,995 36,085 234 37,401 153,396 720,262 12,754,499 4,935,166 168,423,645 23,656,713 289,417 12,486,286 223,265,988
Schedule: F - 2
Particulars
Government Bonds
206,273
Corporate Bonds
4,547,084
46,906
1,969,575
Equity
Money Market
2,943,258
7,457,788
Mutual Funds
22,425
8,245
financial Report
Deposit with Banks
959,571
5,080,026
Total
3,972,160
19,268,991
Other Investments 1,975,110 100.00% 0.00% 0.00% 0.04% 100.00% 99.96% 100.00% 0.00% 1,834,933 1,724,191 609,746 651 3,318 320,753 98.97% 1.03% 651 3,318 5,184 5,184 423,285 98.78% 1.22% 11,665 11,665 707,643 98.35% 1.65% 368 368 133,947 99.73% 0.27% 43,792 100.00% 0.00% 1,526 1,526 91,601 98.33% 1.67% 3,266,406 3,266,406 48,721,110 93.30% 6.70% 627 627 154,023 99.59% 0.41% 520,889 14,991,337 101,853 15,614,079 238,880,067 93.46% 6.54%
Corporate Bonds
331,035
Equity
Money Market
Mutual Funds
Venture Fund
Total
331,035
Grand Total
3,972,160
19,600,026
100.00%
98.31%
0.00%
1.69%
Schedule: F - 2
(` 000)
Linked Health Funds
Particulars
Health Flexi Balanced Fund
Health Multiplier Fund
Health Preserver Fund
Health Protector Fund
Health Return Guarantee Fund
Health Return Guarantee Fund II
Health Return Guarantee Fund III
Health Return Guarantee Fund IV
Health Return Guarantee Fund V
Health Return Guarantee Fund VI
Health Return Guarantee Fund VII
Health Return Guarantee Fund IX (5 Yrs)
Total
Approved Investments 8 4,119 738 25,305 23,949 206 7,657 61,982 965,763 151,489 13,894 326,577 27,037 29,392 30,731 14,429 2,867 72,395 12,669 7,997 6,647 4,992 11,819 1,643 142 131 305 216 331 103 23 2,852 6,524 41,106 982 10,762 144,958 912,838 148,848 45 1,110 4,213 123 9,825 2,367 2,718 5,770 4,192 1,128 1,457 16 99,185 11,696 18,461 17,983 5,142 2,521 1,601 1,694 754 27 156 2,631 83 12 5 1 18 101 168,948 30,232 1,110,386 247,764 15,231 130,434 1,703,096
Government Bonds
10
Corporate Bonds
6,518
1,155
Equity
23,395
Money Market
26,007
Mutual Funds
240
Deposit with Banks
11,091
Total
68,416
Other Investments 3,013 3,013 64,995 82.00% 18.00% 8.83% 1.47% 91.17% 98.53% 1,177,794 166,155 14,102 334,593 97.60% 2.40% 212,031 14,666 208 8,016 328 27,365 98.80% 1.20% 41,199 5,737 208 328 29,392 100.00% 0.00% 170,832 8,929 478 478 31,209 98.47% 1.53% 8,016 14,429 100.00% 0.00% 6,524 100.00% 0.00% 50 50 4,263 98.83% 1.17% 6 6 2,637 99.77% 0.23% 18 100.00% 0.00% 8,016 184,381 48,006 240,403 1,943,499 87.63% 12.37%
Corporate Bonds
Equity
1,607
Money Market
Mutual Funds
Venture Fund
Total
1,607
Grand Total
70,023
97.71%
95.36%
2.29%
119
120
(` 000)
Linked Group Funds Group Capital Guarantee Debt Fund Group Debt Fund Group Growth Fund Group Capital Guarantee Growth Fund Group Capital Guarantee Short Term Debt Fund Group Leave Encashment Balance Fund Group Leave Encashment Income Fund Group Leave Encashment Short Term Fund 2,192 434,202 132,456 306,363 616,796 1,520 452,726 1,946,255 374,341 59,097 2,333,306 5,931,581 5,358,026 110,819 10,898 549,620 1,619,897 623,261 417 108 20,110 3,999 2,412 116,896 12,940 1,735,032 1,836,506 1,099,515 20,936 2,849,742 73,065 119,847 1,199 117,911 471,551 24,034 3,556 27,492 661,134 213,116 42,175 119,749 10,649 1,052 1,807,731 566,964 117,245 2,426 10 2,314 3,016 109 13 14,972 3,233 16,537 31 10,933 45,719 572 8,000 222 11,917 20,711
Schedule: F - 2
Particulars
Group Balanced Fund
Group Capital Guarantee Balanced Fund
Government Bonds
12,296
Corporate Bonds
3,440,302
868,631
Equity
2,423,159
Money Market
4,842,411
Mutual Funds
6,977
financial Report
Deposit with Banks
3,444,607
Total
15,038,383
Other Investments 80,344 36,660 117,004 2,063,259 94.33% 5.67% 7.57% 92.43% 405,003 64,405 91.76% 8.24% 30,662 5,308 2,333,306 100.00% 0.00% 2,916 30,662 2,392 168,611 168,611 6,100,192 97.24% 2.76% 331,184 331,184 5,689,210 94.18% 5.82% 19,711 10,653 30,364 501,915 93.95% 6.05% 1,809 1,809 47,528 96.19% 3.81% 1,188 1,188 21,899 94.58% 5.42%
Corporate Bonds
617,284
Equity
289,163
Money Market
Mutual Funds
Venture Fund
Total
906,447
Grand Total
15,944,830
94.32%
5.68%
Schedule: F - 2
(` 000)
Linked Group Funds Grand Total
Particulars Total
Group Return Guarantee Fund - A4
Group Return Guarantee Fund - S5
Group Return Guarantee Fund - S6
Group Return Guarantee Fund II
Group Return Guarantee Fund III
Group Short Term Debt fund
Group Superannuation Corporate Bond Fund
Approved Investments 16,551 5,064 17,551 479 24,460 64,105 111,166 2,161,464 39,638 74,758 1,044,287 4,452,816 712 22,466 33,243 3,375,286 90,538 5,111 287,151 1,537,988 12,358 527,312 150,798 58,458 1,536,928 1,004,390 22,376 10,566,941 3,157,512 5,673,265 13,887,855 125,680 8,981,889 42,415,518 4,184,598 39,725,246 14,846,582 383,718,078 62,183,948 861,630 35,095,607 540,615,689
Government Bonds
Corporate Bonds
1,437,748
485,581
Equity
Money Market
Mutual Funds
26,674
Deposit with Banks
559,006
Total
2,509,009
Other Investments 64,105 100.00% 0.00% 0.00% 0.00% 0.00% 0.00% 111,166 100.00% 0.00% 9,816 9,816 2,171,280 99.55% 0.45% 4,452,816 100.00% 0.00% 1,537,988 100.00% 0.00% 920,813 670,576 18,212 1,609,601 44,025,119 96.34% 3.66% 1,821,453 36,736,426 425,666 16,883 39,000,428 579,616,117
Corporate Bonds
Equity
Money Market
Mutual Funds
7,208
Venture Fund
Total
7,208
Grand Total
2,516,217
99.71%
0.29%
121
122
(` 000)
Linked Life Funds Balancer Fund Income Fund 259,118 7 3,838 80,429 22,061 4 365,457 18,638 135,909 10 341,900 31,401 1,285,280 233,686 51,800 1,463 302 23,955 1,708 78 1 6 115 3 1,598 28,992 17,164 14,051 270,288 10,160 85,205 229,552 39,808 4,092 8,429 39,820 1,619 1,190,349 1,683 1,819 1,298 261 9,568 34 67,058 635,202 114 718,723 10 9 10 10 10 10 10 10 10 10,501 113,118 6,523 19,351 33 2,379 10,221 21,473 5,848 4,117 10 16,752 42 20,921 Bluechip Fund Cash Plus Fund Discontinued Fund - Life Dynamic P/E Fund Flexi Balanced Fund Highest NAV Fund B Invest Shield Fund - Life Maximiser Fund Money Market Fund Flexi Growth Fund Multi Cap Balanced Fund 1,394 10 8 14,043 9,212 2 949 25,618
Schedule F 3
CURRENT ASSETS AS AT MARCH 31, 2011
Particulars
Anmol Nivesh Fund
Accrued Interest
33
Cash & Bank Balance
10
Dividend Receivable
Receivable for Sale of Investments
Unit Collection A/c
Other Current Assets (for Investments)
Appropriation adjustment account
financial Report
Total
50
(` 000)
Linked Life Funds New Invest Shield Balanced Fund Opportunities Fund 11 9,763 39,659 1 3,283 52,717 187,615 10 16,865 223,401 722 10 10 239 3,517 1 5,375 13,525 18,179 4,383 16,164 10 45,657 61,831 Pinnacle Fund Pinnacle Fund II Preserver Fund 24,563 9 18,258 2,820 1 2,805 48,456 Protector Fund 277,217 10 24,188 40,990 342,405 Return Guarantee Fund 40,614 10 40,624 Return Guarantee Fund II 37,006 10 37,016 Return Guarantee Fund III 36,303 10 36,313 Return Guarantee Fund IV 18,446 10 18,456 Return Guarantee Fund V 3,091 10 3,101 Return Guarantee Fund VI 3,191 11 3,202
Particulars
Multi Cap Growth Fund 12 10 798,109 3,031 44 801,206
Multiplier Fund
Accrued Interest
Cash & Bank Balance
11
Dividend Receivable
Unit Collection A/c
125,943
12,727
Total
138,685
Schedule F 3
(` 000)
Linked Life Funds
CURRENT ASSETS AS AT MARCH 31, 2011 (Contd.)
Particulars RICH Fund Secure Plus Fund Secure Save Builder Fund
Return Guarantee Fund VII 5,429 11 14 5,454 30,151 2,682 40,685 28,243 83,079 249,146 184,827 49 7 63 21 130 33 89,392 444 20,663 8,422 238,426 92,471 1,645 18 8,616 436 2,593 3 9 61 48 224 11 10 10 10 11 11 11 11 10 30,091 2,665 40,168 7,549 74,516 10,676 360 6,506 93 763 10 6 76 233 100 1,188
Return Guarantee Fund VIII (10 Yrs) Secure Save Guarantee Fund
Total
Accrued Interest
1,131
1,102,727 10,895 85,628 2,824,232 1,529,949 303 161,025 5,714,759
Cash & Bank Balance
10
Dividend Receivable
Unit Collection A/c
Total
1,141
(` 000)
Linked Pension Funds Pension Balancer Fund 151,368 10 12,232 43,279 16,410 223,299 41,371 3,796 30,282 140,573 3 11,832 85,651 25,730 14,415 1,704 8,911 4,693 32,268 1,795 10 10 10 8,420 16,950 218 10 12,546 965,118 91,771 57 176,502 1,246,222 Pension Bluechip Fund Pension Dynamic P/E Fund Pension Flexi Balanced Fund Pension Flexi Growth Fund Pension Income Fund 37,321 9 4,899 47,414 190 89,833 Pension Maximiser Fund 66 10 21,551 203,986 5,427 29 231,069 Pension Money Market Fund 5,471 10 9,794 1 15,276 Pension Multi Cap Balanced Fund 5,244 10 125 19,540 7,740 2 2,129 34,790 Pension Multi Cap Growth Fund 983 9 88,591 1 25,505 115,089 Pension Multiplier Fund 10 15,216 15,341 1 35,840 66,408 Pension Opportunities Fund 3 10 62,364 23,412 9 11,504 97,302
Particulars
Invest Shield Fund Pension
Accrued Interest
4,305
Cash & Bank Balance
10
Dividend Receivable
1,536
Unit Collection A/c
403
320
Total
6,574
123
124
(` 000)
Linked Pension Funds Pension Return Guarantee Fund Pension RICH Fund 3,163 11 3,387 497,629 9,517 5 901 11,250 79,813 47 135,250 719,300 2,469 11 183 354 8 3,025 121,805 11 121,816 61,932 92,605 43,351 10,204 12,188 23,593 2,751 1 7 2 5 10 9 10 10 10 10 10 9 10 61,922 92,596 43,340 10,194 12,178 23,578 2,734 890 1,718 Pension Return Guarantee Fund II Pension Return Guarantee Fund III Pension Return Guarantee Fund IV Pension Return Guarantee Fund V Pension Return Guarantee Fund VI Pension Return Guarantee Fund VII Pension Return Guarantee Fund VIII Pension Return Pension Return Guarantee Guarantee Fund IX Fund X (10 Yrs) (10 Yrs) Secure Plus Pension Fund Total 324,461 10 30,178 86,556 997 442,202 952,088 268 39,404 1,854,730 636,578 149 443,641 3,926,858
Schedule F 3
Particulars
Accrued Interest
20,691
Cash & Bank Balance
Dividend Receivable
Unit Collection A/c
20,767
financial Report
199
Total
41,666
(` 000)
Linked Health Funds
Particulars
Health Balancer Fund 247 10 320 2,479 109 3,165 44,907 4,653 3,262 454 1 1 447 33,019 4,190 380 8,601 418 10,431 17 15,610 14 10 9 10 10 56 4,734 3,152 10 3,162
Health Return Guarantee Fund 2,237 10 2,247
Health Return Guarantee Fund III 1,851 10 38 1,899
Health Return Guarantee Fund IV 1,382 13 1,395
Health Return Guarantee Fund V 567 10 577
Health Return Guarantee Fund VI 215 10 225
Health Return Guarantee Fund VII 72 10 82
Health Return Guarantee Fund IX (5 Yrs) 1 1
Total
Accrued Interest
412
14,926 132 14 9,390 52,832 1 3,923 81,218
Cash & Bank Balance
10
Dividend Receivable
51
Unit Collection A/c
2,295
80
Total
2,848
Schedule F 3
(` 000)
Linked Group Funds Group Capital Guarantee Balanced Fund Group Debt Fund 109,800 10 9,652 311 119,773 100,348 9,588 1 38,222 4,206 301 13,192 12,198 1,226 2,759 61 9 9 37,571 7,389 827 10 67 228 2 1,134 Group Growth Fund 27,001 10 264 5,112 13,307 1,236 46,930 8,867 1,236 29,824 74 117 2,303 434 19,164 584 55 18 10 11 10 5,970 644 10,533 Group Capital Guarantee Debt Fund Group Capital Guarantee Growth Fund Group Capital Guarantee Short Term Debt Fund Group Leave Encashment Balance Fund Group Leave Encashment Income Fund Group Leave Encashment Short Term Fund 254 11 10,197 10,462
Particulars
Group Balanced Fund
Accrued Interest
202,160
Cash & Bank Balance
10
Dividend Receivable
2,483
44,695
Unit Collection A/c 4
54,333
9,553
Total
313,238
(` 000)
Linked Group Funds Group Return Guarantee Fund - A4 1,005 11 32 3 1,051 124,763 124,763 208 208 0 12,163 10 1,262 13,435 Group Return Guarantee Fund - S5 Group Return Guarantee Fund - S6 Group Return Guarantee Fund II Group Return Guarantee Fund III 75,704 10 23,360 112 99,186 Group Short Term Debt fund 16,061 10 166,901 182,972 Group Superannuation Corporate Bond Fund 29,038 10 306 78 29,432 Total Grand Total
Particulars
Accrued Interest
151,968
688,089 161 5,585 73,589 470,696 6 21,375 1,259,499
2,757,830 11,456 130,631 4,761,941 2,690,055 458 629,963 10,982,334
Cash & Bank Balance
10
Dividend Receivable
Unit Collection A/c
11,470
Total
163,448
125
126
(` 000)
Linked Life Funds Balancer Fund (1,206) (22,924) (24,130) (3,973) (230) (113) (85,315) (4,589) (703,452) (50,020) (64) (71) (4,445) (181,539) (22) (230) (355) (144) (3,852) (35) (64) (71) (5,556) (240,006) (648,064) (113) (14,694) (3,951) (84,960) (518,061) (49,985) (387,808) (21) (21) Bluechip Fund Cash Plus Fund Discontinued Fund - Life Dynamic P/E Fund Flexi Balanced Fund Highest NAV Fund B Income Fund Invest Shield Fund - Life Maximiser Fund Money Market Fund Flexi Growth Fund Multi Cap Balanced Fund (23) (23)
Schedule F 4
CURRENT LIABILITIES AS AT MARCH 31, 2011
Particulars
Anmol Nivesh Fund
Payable for Purchase of Investments
Unit Payable a/c
Other Current Liabilities
Expropriation adjustment account
Total
(` 000)
Linked Life Funds New Invest Shield Balanced Fund Opportunities Fund (49) (49) (150,275) (20,009) (261) (176) (269) (86) (85) (563) (774) (1,337) (150,006) (19,923) (176) (29) (32) (237) Pinnacle Fund Pinnacle Fund II Preserver Fund Protector Fund (9,425) (94) (9,519) Return Guarantee Fund Return Guarantee Fund II (254) (30) (33) (317) Return Guarantee Fund III (230) (30) (33) (293) Return Guarantee Fund IV (41) (13) (14) (68) Return Guarantee Fund V (19) (5) (6) (30) Return Guarantee Fund VI (1) (5) (6) (12)
financial Report
Particulars
Multi Cap Growth Fund (1,501) (64,339) (65,840)
Multiplier Fund
(7,522)
Unit Payable a/c
(189)
Total
(7,711)
(` 000)
Linked Life Funds
Particulars
Return Guarantee Fund VII (12) (12) (164) (44) (120) (6) (6)
Return Guarantee Fund IX (5 Yrs) (57) (57)
Return Guarantee Fund X (10 Yrs) (19) (19)
Return Guarantee Fund X (5 Yrs) (118) (118)
Return Guarantee Fund XI (5 Yrs) (29) (29)
RICH Fund
Secure Plus Fund
Secure Save Guarantee Fund (1,837) (1,837) (14) (14) (1) (1) (5) (5)
Total
(1,231,641) (15,663) (16,671) (514,329) (1,778,304)
Unit Payable a/c
(15)
(2)
(2)
Total
(19)
Schedule F 4
(` 000)
Linked Pension Funds Pension Balancer Fund Pension Flexi Growth Fund (227,115) (3,560) (230,675) (155) (224,602) (76) (52) (90,511) (51) (4,479) (155) (1,646) (25) (52) (378) (132,445) (4,101) (773) (773) Pension Income Fund (680) (680) (20,476) (449) (129) (56) (449) (129) (20,420) Pension Bluechip Fund Pension Dynamic P/E Fund Pension Flexi Balanced Fund Pension Maximiser Fund Pension Money Market Fund Pension Multi Cap Balanced Fund Pension Multi Cap Growth Fund Pension Multiplier Fund Pension Opportunities Fund (171) (171)
CURRENT LIABILITIES AS AT MARCH 31, 2011 (Contd.)
Particulars
(500)
Unit Payable a/c
(14)
Total
(514)
(` 000)
Particulars
Pension Preserver Fund (767) (767) (340) (313) (209) (112) (146) (79) (105) (95) (91) (33) (17) (22) (95) (86) (82) (30) (15) (20) (33) (37) (70) (140) (132) (36) (49) (114) (37) (6) (6)
Pension Return Guarantee Fund
Pension Return Guarantee Fund IX (10 Yrs) (2) (2)
Pension Return Guarantee Fund X (10 Yrs) (4) (4)
Pension RICH Fund (40,516) (2,845) (43,361)
Secure Plus Pension Fund (6) (6)
Total
(425,097) (508) (12,176) (90,962) (528,743)
Unit Payable a/c
(97)
Total
(97)
(` 000)
Linked Health Funds
Particulars
Health Balancer Fund (2) (2) (54) (54) (7) (1,223) (1,216) (1) (1)
Health Flexi Health Flexi Balanced Growth Fund Fund
Health Protector Fund (8) (8)
Health Return Guarantee Fund (3) (1) (2) (6)
Health Return Guarantee Fund II (17) (1) (2) (20)
Health Return Guarantee Fund III (1) (2) (3)
Health Return Guarantee Fund IV (1) (1) (2)
Total
(63)
(1,279) (20) (78) (7) (1,384)
Unit Payable a/c
(2)
Total
(65)
127
128
(` 000)
Linked Group Funds Group Capital Guarantee Balanced Fund Group Debt Fund Group Growth Fund (109) (109) (40) (4) (102) (22,660) (226) (21) (19) (4) (102) (244) (226) (20) (20) (22,416) (2) (2) Group Capital Guarantee Debt Fund Group Capital Guarantee Growth Fund Group Capital Guarantee Short Term Debt Fund Group Leave Encashment Balance Fund Group Leave Encashment Income Fund Group Leave Encashment Short Term Fund (1) (1) (2)
Schedule F 4
CURRENT LIABILITIES AS AT MARCH 31, 2011 (Contd.)
Particulars
Group Balanced Fund
Unit Payable a/c
(638)
financial Report
Total
(638)
(` 000)
Linked Group Funds Grand Total Group Short Term Debt Fund Total
Particulars Group Return Guarantee Fund - A4 Group Return Guarantee Fund - S5 Group Return Guarantee Fund - S6 Group Return Guarantee Fund II Group Return Guarantee Fund III
Group Superannuation Corporate Bond Fund
Payable for Purchase of Investments (3) (3) (7) (6) (13)
(22,416) (119) (119) (176) (223) (399) (62) (62) (1,873) (384) (24,673)
(1,658,017) (38,607) (30,798) (605,682) (2,333,104)
Unit Payable a/c
(141)
(133)
Total
(274)
3.18
(` 000)
Linked Life Funds Balancer Fund Bluechip Fund Cash Plus Fund Dynamic P/E Fund Flexi Balanced Fund Income Fund Invest Shield Fund - Life Maximiser Fund Multiplier Fund Flexi Growth Fund Money Market Fund Multi Cap Balanced Fund Multi Cap Growth Fund New Invest Shield Balanced Fund
Fund Balance Sheet AS at March 31, 2010
Form A-BS(UL)
Particulars
Schedule
Anmol Nivesh Fund
Sources of funds
Policyholders funds 186 (15) 171 22,957,997 89,625 4,960,369 212,435 2,598,328 70,735,652 178,413 1,610,180 106,970,056 28,120 11,724,102 (712) 218,520 953 370,253 10,853,149 (4,899) 228,204 44,402,254 (475) (554) 40,426 11,233,895 90,337 4,741,849 211,482 2,228,075 59,882,503 183,312 1,381,976 62,567,802 28,595 40,980 650,280 18,268,494 (5,821) 3,777,296 644,459 22,045,790 1,942,318 250,771 2,193,089
F-1
Revenue account
Total
Application of funds 148 23 23 171 22,957,997 89,625 4,960,369 212,435 2,598,328 70,735,652 178,413 389,304 (1,720) 125,498 20,584 35,637 444,464 7,457 40,589 75,518 7,019 204 4,508 148 210,332 10,165 65 464,822 5,299 125,702 25,092 35,785 654,796 17,622 40,654 692,073 446,188 245,885 22,568,693 91,345 4,834,871 191,851 2,562,691 70,291,188 170,956 1,569,591 106,724,171 23,242 4,879 1 4,878 28,120 40,365 2,849 2,788 61 40,426 642,752 22,091,870 47,555 45,848 1,707 171,414 217,494 (46,080) 644,459 22,045,790 2,163,657 35,279 5,847 29,432 2,193,089
Investments
F-2
Current assets
F-3
F-4
Net current assets
Total
1,610,180 106,970,056
(a) Net asset as per balance sheet (Total assets less current liabilities and provisions) (` 000) 171 16 10.44 28.66 10.18 14.95 10.30 13.60 13.88 800,918 8,801 331,807 20,617 191,033 5,095,154 22,957,997 89,625 4,960,369 212,435 2,598,328 70,735,652 178,413 17,502 10.19
1,610,180 106,970,056 89,972 17.90 2,179,019 49.09
28,120 2,777 10.12
40,426 4,000 10.11
644,459 22,045,790 63,882 10.09 2,257,546 9.77
2,193,089 145,642 15.06
129
130
(` 000)
Linked Life Funds Pinnacle Preserver Fund Fund Return Return Return Return Return Return Return Protector Guarantee Guarantee Guarantee Guarantee Guarantee Guarantee Guarantee Fund Fund Fund II Fund III Fund IV Fund V Fund VI Fund VII RICH Fund Secure Plus Fund Secure Save Builder Fund Secure Save Guarantee Fund Total 151,217 3,067,159 2,751,486 10,608,014 (144) 151,073 3,015,310 3,352,757 13,991,929 648,338 682,840 678,227 291,185 123,150 118,933 47,296 22,204,905 (51,849) 601,271 3,383,915 27,171 24,410 19,243 1,655 (2,649) (890) (896) 3,502,837 49,947 328,409 621,167 658,430 658,984 289,530 125,799 119,823 48,192 18,702,068 278,462 10,823 (183) 10,640 45,822 (2,054) 43,768 201,589,060 79,364,810 280,953,870
3.18
Fund Balance Sheet AS at March 31, 2010 (Contd.)
Form A-BS(UL)
Particulars
Schedule
Opportunities Fund
Sources of funds
Policyholders funds
F-1
Revenue account
Total
Application of funds 148,284 2,755,211 3,275,203 13,671,451 14,765 11,976 2,789 151,073 3,015,310 3,352,757 13,991,929 648,338 682,840 678,227 291,185 123,150 260,099 77,554 320,478 31,496 28,814 27,518 12,540 5,091 16,802 74 588 61 65 65 28 12 11 4,443 118,933 276,901 77,628 321,066 31,557 28,879 27,583 12,568 5,103 4,454 616,842 654,026 650,709 278,645 118,059 114,490 45,826 21,903,728 1,472 2 1,470 302,425 1,248 301,177 47,296 22,204,905 319,207 9,214 12 9,202 328,409 10,514 126 126 10,640 44,163 877 1,272 (395) 43,768 278,573,749 3,438,462 1,058,341 2,380,121 280,953,870
financial Report
Investments
F-2
Current assets
F-3
F-4
Net current assets
Total
(a) Net asset as per balance sheet (Total assets less current liabilities and provisions) (` 000) 151,073 3,015,310 3,352,757 13,991,929 14,700 10.28 10.61 15.18 16.69 11.72 11.38 11.20 284,136 220,819 838,471 55,310 60,016 60,551 648,338 682,840 678,227 291,185 26,526 10.98
123,150 11,540 10.67
118,933 11,219 10.60
47,296 22,204,905 4,626 10.22 1,724,419 12.88
328,409 21,615 15.19
10,640 956 11.13
43,768 4,044 10.82
280,953,870 14,547,635
3.18
(` 000)
Linked Pension Funds Pension Balancer Fund Pension Income Fund Pension Bluechip Fund Pension Dynamic P/E Fund Pension Flexi Balanced Fund Pension Flexi Growth Fund Pension Maximiser Fund Pension Pension Money Market Multi Cap Fund Balanced Fund Pension Multi Cap Growth Fund Pension Multiplier Fund
Form A-BS(UL)
Particulars
Schedule
Sources of funds
Policyholders funds 252,041 68,956 320,997 13,377,586 531,430 3,193,538 2,416,444 59,441,456 1,565,569 36,570,756 381,038 4,384,430 4,015 13,224 309,385 9,640,452 (29,615) 12,978,786 (7,322) (4,646) 559,684 8,993,156 527,415 3,180,314 2,107,059 49,801,004 1,595,184 23,591,970 388,360 564,330 3,969,395 (7,327) 3,962,068 9,200,897 1,596,897 10,797,794
F-1
Revenue account
Total
Application of funds 312,011 8,999 13 8,986 320,997 13,377,586 531,430 3,193,538 2,416,444 59,441,456 1,565,569 213,585 1,558 343,959 30,622 325,852 80,138 6,684 50,107 83,997 103 217,604 81,323 102,710 138,880 36,570,756 220,269 51,665 427,956 30,725 543,456 161,461 241,590 13,164,001 529,872 2,849,579 2,385,822 59,115,604 1,485,431 36,431,876 311,788 69,257 7 69,250 381,038 564,585 35,700 40,601 (4,901) 559,684 4,261,020 432,974 731,926 (298,952) 3,962,068 10,766,533 103,915 72,654 31,261 10,797,794
Investments
F-2
Current assets
F-3
F-4
Net current assets
Total
(a) Net asset as per balance sheet (Total assets less current liabilities and provisions) (` 000) 320,997 17,702 18.13 24.42 10.03 10.28 14.08 547,781 52,992 310,768 171,607 4,237,231 14.03 13,377,586 531,430 3,193,538 2,416,444 59,441,456
1,565,569 154,624 10.12
36,570,756 920,349 39.74
381,038 37,826 10.07
559,684 56,251 9.95
3,962,068 399,952 9.91
10,797,794 1,028,641 10.50
131
132
(` 000)
Linked Pension Funds Pension Preserver Fund Pension RICH Fund Pension Protector Fund Pension Return Guarantee Fund Secure Plus Pension Fund Pension Return Guarantee Fund II Pension Return Guarantee Fund III Pension Return Guarantee Fund IV Pension Return Guarantee Fund V Pension Return Guarantee Fund VI Pension Return Guarantee Fund VII Total 2,406,413 121,644 2,528,057 13,832,959 2,140,575 1,932,475 1,891,994 680,873 356,422 455,575 786,597 1,736,886 173,497 173,396 145,573 31,833 9,134 9,994 (3,562) 12,096,073 1,967,078 1,759,079 1,746,421 649,040 347,288 445,581 790,159 29,363,906 6,209,573 35,573,479 113,296 29,877 143,173 157,600,847 37,596,765 195,197,612 11,685
3.18
Form A-BS(UL)
Particulars
Schedule
Pension Opportunities Fund
Sources of funds
Policyholders funds
F-1
1,745,390
Revenue account
Total
1,757,075
Application of funds 2,477,914 50,199 56 50,143 2,528,057 13,832,959 2,140,575 1,932,475 1,891,994 680,873 365,672 94,980 60,150 72,020 33,342 13,438 356,422 555 204 185 181 65 34 366,227 95,184 60,335 72,201 33,407 13,472 13,467,287 2,045,595 1,872,325 1,819,974 647,531 342,984 437,407 18,212 44 18,168 455,575 763,636 22,997 36 22,961 786,597 36,147,404 338,791 912,716 (573,925) 35,573,479 139,212 3,966 5 3,961 143,173 194,065,464 3,614,144 2,481,996 1,132,148 195,197,612
financial Report
Investments 211,186 180,186 31,000
F-2
1,726,075
Current assets
F-3
F-4
Net current assets
Total
1,757,075
(a) Net asset as per balance sheet (Total assets less current liabilities and provisions) (` 000) 2,528,057 166,411 15.19 16.31 11.75 11.38 847,942 182,181 169,831 168,924 11.20 13,832,959 2,140,575 1,932,475 1,891,994 174,700 10.06
1,757,075
680,873 62,136 10.96
356,422 33,426 10.66
455,575 43,033 10.59
786,597 77,047 10.21
35,573,479 2,773,539 12.83
143,173 9,591 14.93
195,197,612 12,644,484
3.18
(` 000)
Linked Health Funds
Form A-BS(UL)
Particulars
Schedule
Total
Sources of funds
Policyholders funds 41,074 (6,649) 34,425 672,681 94,852 7,000 189,015 34,936 38,173 40,722 19,718 10,062 (79,296) (8,260) (1,854) (56,406) (34,703) (39,430) (37,986) (16,559) (8,294) 751,977 103,112 8,854 245,421 69,639 77,603 78,708 36,277 18,356 10,660 (4,242) 6,418 5,758 (1,101) 4,657 1,494,133 (303,089) 1,191,044
F-1
46,695
Revenue account
(8,309)
Total
38,386
Application of funds 32,414 2,012 1 2,011 34,425 672,681 94,852 7,000 189,015 34,936 38,173 30,394 4,694 428 2,473 2,502 1,861 1,908 40,722 665 4 10,162 4 4 4 31,059 4,698 428 12,635 2,506 1,865 1,912 642,287 90,158 6,572 186,542 32,434 36,312 38,814 18,686 1,034 2 1,032 19,718 9,554 509 1 508 10,062 6,111 307 307 6,418 4,479 178 178 4,657 1,139,952 61,940 10,848 51,092 1,191,044
Investments 2,797 1 2,796
F-2
35,590
Current assets
F-3
F-4
Net current assets
Total
38,386
(a) Net asset as per balance sheet (Total assets less current liabilities and provisions) (` 000) 34,425 2,294 15.01 19.55 19.70 10.90 11.29 34,409 4,814 642 16,744 3,084 11.33 672,681 94,852 7,000 189,015 34,936 2,864 13.40
38,386
38,173 3,361 11.36
40,722 3,627 11.23
19,718 1,784 11.05
10,062 944 10.66
6,418 605 10.61
4,657 456 10.20
1,191,044 75,630
133
134
(` 000)
Linked Group Funds Group Debt Fund Total Group Growth Fund Group Group Group Group Group Group Group Leave Leave Leave Return Return Return Short Encashment Encashment Encashment Guarantee Guarantee Guarantee Term Debt Balance Income Short Term Fund Fund II Fund III fund Fund Fund Fund Grand Total 1,652,847 217,662 1,870,509 365,843 49,123 2,196,545 5,560,261 4,937,552 470,940 45,444 21,235 2,563,819 119,221 326,105 16,277 427,960 663,060 1,190,273 72,523 1,524 3,913 285,540 8,804 39,738 32,846 1,768,585 4,897,201 3,747,279 398,417 43,920 17,322 2,278,279 110,417 2,036,586 136,489 2,173,075 5,551,126 30,410,771 391,094,811 1,081,635 6,939,269 123,597,755 6,632,761 37,350,040 514,692,566
3.18
Form A-BS(UL)
Particulars
Schedule
Group Group Group Group Capital Group Capital Capital Guarantee Capital Balanced Guarantee Guarantee Guarantee Short Fund Balanced Growth Debt Fund Term Debt Fund Fund Fund
Sources of funds
F-1
7,836,205
Revenue account
2,507,504
Total
10,343,709
financial Report
Application of funds 1,828,417 42,189 97 42,092 1,870,509 365,843 49,123 2,196,545 5,560,261 4,937,552 470,940 (13,809) 1,410 32,218 854,188 17,319 10,676 (2,589) 45,444 20,333 3 204 127,160 196 294 3,811 6,524 1,413 32,422 981,348 17,515 10,970 1,222 21,144 21,144 21,235 379,652 47,713 2,164,327 4,706,073 4,920,233 460,264 48,033 91 2,444,140 119,942 263 119,679 2,563,819 111,327 7,906 12 7,894 119,221 2,082,549 90,640 114 90,526 2,173,075 6,146,680 35,387,135 509,166,300 486,631 550 486,081 2,116,344 153,439 1,962,905 9,230,890 3,704,624 5,526,266 6,632,761 37,350,040 514,692,566
Investments
F-2
10,047,633
Current assets 402
F-3
296,478
F-4
Net current assets
296,076
Total
10,343,709
(a) Net asset as per balance sheet (Total assets less current liabilities and provisions) (` 000) 1,870,509 138,090 13.55 14.23 13.41 12.91 16.47 29.94 25,700 3,663 170,158 337,636 164,893 365,843 49,123 2,196,545 5,560,261 4,937,552
10,343,709
470,940 38,033 12.38
45,444 4,429 10.26
21,235 2,117 10.03
2,563,819 226,107 11.34
119,221 11,014 10.82
2,173,075 203,549 10.68
6,632,761 37,350,040 514,692,566 426,848 15.54 2,232,276 29,500,026
480,040
21.55
Schedule F 1
(` 000)
Linked Life Funds Bluechip Fund 90,675 338 90,337 4,741,849 211,482 2,228,075 59,882,503 183,312 1,381,976 62,567,802 28,595 40,980 149,089 20 206,198 4,451,541 13 49,327 38,619,758 65 300 43 650,280 1,520,581 211,502 889,072 19,417,959 183,325 287,623 13,728,230 28,660 41,280 650,323 3,370,357 1,545,201 44,916,085 1,143,680 87,459,330 11,696,969 6,877,280 305,755 18,268,494 Cash Plus Fund Dynamic P/E Fund Income Fund Maximiser Fund Multiplier Fund Flexi Balanced Fund Flexi Growth Fund Invest Shield Fund - Life Money Market Fund Multi Cap Balanced Fund Multi Cap Growth Fund New Invest Shield Balanced Fund 1,560,710 520,136 138,528 1,942,318
Policyholders contribution as at march 31, 2010
Particulars
Anmol Nivesh Fund
Balancer Fund
Opening balance
16,549,516
186
3,347,026
8,662,647
Closing balance
186
11,233,895
(` 000)
Linked Life Funds
Particulars Pinnacle Fund Preserver Fund Protector Fund
Opportunities Fund
Return Guarantee Fund 671,366 6,508 56,707 621,167 658,430 658,984 289,530 76,975 107,875 19,789 6,271 12,769 98,174 126,284 485 125,799 729,134 754,090 211,145 120,627 804 119,823
Return Guarantee Fund II
Return Guarantee Fund III
Return Guarantee Fund IV
Return Guarantee Fund V
Return Guarantee Fund VI
Return Guarantee Fund VII 48,476 284
RICH Fund
Secure Plus Fund
Secure Save Builder Fund 9,124,165 9,629,421 51,518 48,192 18,702,068 244,274 50,462 16,274 278,462 10,823 10,823
Secure Save Guarantee Fund 46,054 232 45,822
Total
Opening balance 3,067,897 738 3,067,159 2,751,486 10,608,014 1,508,235 5,070,542 1,785,726 3,343,613
2,473,995
12,334,943
194,784,960 66,298,189 59,494,089 201,589,060
151,226
Closing balance
151,217
(` 000)
Linked Pension funds Pension Balancer Fund Pension Bluechip Fund 529,829 2,414 527,415 3,182,002 1,688 3,180,314 7,413,645 3,879,237 2,299,726 8,993,156 Pension Dynamic P/E Fund Pension Flexi Balanced Fund 1,049,155 1,113,989 56,085 2,107,059 Pension Flexi Growth Fund 32,018,424 20,019,584 2,237,004 49,801,004 Pension Income Fund 1,595,711 527 1,595,184 Pension Maximiser Fund 25,913,587 6,307,985 8,629,602 23,591,970 Pension Money Market Fund 388,421 61 388,360 Pension Multi Cap Balanced Fund 567,927 3,597 564,330 Pension Multi Cap Growth Fund 3,970,487 1,092 3,969,395 Pension Multiplier Fund 5,126,740 4,147,223 73,066 9,200,897
Particulars
Opening balance
211,702
51,690
11,351
Closing balance
252,041
135
136
(` 000)
Linked Pension funds Pension Preserver Fund Pension RICH und Secure Plus Pension Fund 957,023 1,734,224 284,834 2,406,413 12,096,073 1,967,078 1,759,079 1,746,421 649,040 347,288 445,581 790,159 1,229,523 156,801 204,107 265,955 83,849 7,814 664 4,306 164,105 29,363,906 5,744,321 2,389 (14,496) (70,605) 107,931 355,102 446,245 794,465 15,056,967 7,581,275 2,121,490 1,977,682 2,082,981 624,958 14,471,044 102,587 17,356 6,647 113,296 Pension Protector Fund Pension Return Guarantee Fund Pension Return Guarantee Fund III Pension Return Guarantee Fund VII Pension Return Guarantee Fund II Pension Return Guarantee Fund IV Pension R eturn Guarantee Fund V Pension Return Guarantee Fund VI Total 101,652,293 71,699,299 15,750,745 157,600,847
Schedule F 1
Policyholders contribution as at march 31, 2010 (Contd.)
Particulars
Opening balance
1,771,317
25,927
Closing balance
1,745,390
(` 000)
Linked Health Funds
financial Report
Particulars
Health Balancer Fund 3,610 37,546 82 41,074 751,977 103,112 8,854 245,421 69,639 14,516 122 425 342 653 832 77,603 690,391 91,075 7,891 222,962 1,610 4,054 76,102 12,159 1,388 22,801 68,682 74,381 70,447 9,477 1,216 78,708
Health Return Guarantee Fund IV 22,547 14,043 313 36,277
Health Return Guarantee Fund V 18,525 169 18,356
Health Return Guarantee Fund VI 10,680 20 10,660
Health Return Guarantee Fund VII 5,769 11 5,758
Total
Opening balance
4,125
356,242 1,156,898 19,007 1,494,133
42,876
306
Closing balance
46,695
(` 000)
Linked Group Funds Grand Total Group Growth Fund Total Group Capital Guarantee Growth Fund 63,454 14,070 44,678 32,846 2,871,192 337,610 1,440,217 1,768,585 3,079,990 3,860,296 2,043,085 4,897,201 Group Capital Group Guarantee Debt Fund Short Term Debt Fund Group Group Leave Leave Encashment Encashment Balance Income Fund Fund 2,395,359 1,797,163 445,243 3,747,279 292,546 117,966 12,095 398,417 61 60,729 16,870 43,920 Group Group Group Group Group Leave Return Return Short Return Encashment Guarantee Guarantee Guarantee Term Debt Short Term Fund Fund II Fund III fund Fund 45,367 21,235 49,280 17,322 2,269,454 10,573 1,748 2,278,279 6,275 104,645 503 110,417 2,036,586 2,036,586 4,656,176 5,773,264 4,878,314 5,551,126
Particulars
Group Group Group Capital Capital Balanced Guarantee Guarantee Fund Balanced Debt Fund Fund 1,744,613 403,072 2,107,947 39,738
Opening balance
4,607,215
592,665
22,624,367 19,929,874 12,143,470 30,410,771
319,417,862 159,084,260 87,407,311 391,094,811
4,138,615
1,254,047
909,625
193,865
Closing balance
7,836,205
1,652,847
Schedule F 2
(` 000)
Linked Life Funds Bluechip Fund Cash Plus Fund Dynamic P/E Fund Flexi Balanced Fund Income Fund Maximiser Fund Multiplier Fund Flexi Growth Fund Invest Shield Fund - Life Money Market Fund Multi Cap Balanced Fund Multi Cap Growth Fund New Invest Shield Balanced Fund
Investments as at march 31, 2010
Particulars
Anmol Nivesh Fund
Balancer Fund
Approved investments 76,131 5,763 847 82,741 4,830,691 175,298 2,213,908 61,323,193 167,038 1,517,807 95,804,283 371,127 74,800 1,500,002 9,261 80,351 83,228 1,650 22,697 47,331 1,882 25,807 9,103 1,624 15,965 154,723 233 978,017 2,329 442,431 3,033,069 68,423 318,043 2,243,690 20,814 10,876 347 2,868 38,262 171,087 1,081,236 56,781,019 387,643 93,317,074 19,708 1,227,837 206,353 42,200 247,996 5,409 1,288 2,102,971 383,246 45,530 467,765 159 3,175 541,436 36,279 5,969 583,684 103,408 35 44 17,657,235 1,990,423 219,892 19,867,550 50 513,559 253,643 729,513 456,062 10,346 93,423 2,056,596
Government Bonds
99,093
Corporate Bonds
35
6,547,937
27
4,527,457
Equity
7,355,668
Money Market
35
2,425,563
Mutual Funds
54,358
Deposit with Banks
51
500,419
Total
148
21,510,495
Other investments 7,983 621 8,604 91,345 90.58% 9.42% 0.09% 8.63% 99.91% 91.37% 86.39% 13.61% 4,834,871 191,851 2,562,691 4,180 16,553 348,783 8,967,995 70,291,188 87.24% 12.76% 1,211 19,083 2,295 3,918 170,956 97.71% 2.29% 15,342 325,085 8,967,995 46,327 51,784 4,180 4,615 1,623 5,457 10,919,888 10,919,888 1,569,591 106,724,171 96.70% 3.30% 89.77% 10.23% 545 545 23,242 97.66% 2.34% 272 1,831 2,103 40,365 94.79% 5.21% 54,640 4,428 59,068 642,752 90.81% 9.19% 2,061,665 162,655 2,224,320 22,091,870 89.93% 10.07% 4,906 80,318 21,837 107,061 2,163,657 95.05% 4.95%
Corporate Bonds
116,754
Equity
941,444
Money Market
Mutual Funds
Venture Fund
Total
1,058,198
Grand Total
148
22,568,693
100.00%
95.31%
0.00%
4.69%
137
138
(` 000)
Linked Life Funds Preserver Fund Protector Fund Return Guarantee Fund RICH Fund Secure Plus Fund Return Guarantee Fund II Return Guarantee Fund III Return Guarantee Fund IV Return Guarantee Fund V Return Guarantee Fund VI Return Guarantee Fund VII Secure Save Builder Fund Secure Save Guarantee Fund Total 8,164 84,591 95,425 2,607,959 10,710 468,354 3,275,203 13,636,015 616,842 649,766 650,709 278,645 118,059 114,124 572,274 119,102 98,682 56,151 30,986 15,317 2,188 91 140,047 3,707 6,816 6,369 2,377 526 1,186 472 218,986 2,695,783 1,689,342 17,532,867 738 78,749 1,070 32,467 319,207 3,800,386 79,697 68,175 99,693 65,058 28,905 35,129 13,736 70,699 6,409,166 414,336 476,093 488,496 180,224 73,311 75,621 30,898 135,470 1,076 1,051 6,043 789 106 205 9,270 18,359 14 10,617 11,494 535,801 18,444,277 10,881,658 12,877 198,037,637 4,549 262 1,939 19,119,586 951,447 4,114,936 41,738 252,085,342 3,275,203 100.00% 0.00% 0.26% 0.00% 99.74% 100.00% 99.35% 0.65% 13,671,451 616,842 654,026 35,436 4,260 650,709 100.00% 0.00% 17,216 4,260 278,645 100.00% 0.00% 118,059 100.00% 0.00% 18,220 366 366 114,490 99.68% 0.32% 621 8 629 2,298,773 163,760 2,462,533 45,826 21,903,728 98.63% 1.37% 88.76% 11.24% 319,207 100.00% 0.00% 1,175 69 1,244 10,514 88.17% 11.83% 2,425 2,425 156,648 25,932,401 377,521 21,837 26,488,407 44,163 278,573,749 94.51% 5.49% 90.49% 9.51% 9,021
Schedule F 2
Investments as at march 31, 2010 (Contd.)
Particulars
Opportunities Fund
Pinnacle Fund
Approved investments
Government Bonds
306,634
Corporate Bonds
Equity
128,562
2,238,801
Money Market
10,598
Mutual Funds
1,365
financial Report
Deposit with Banks
Total
140,525
2,554,456
45,197 19,441,195
Other investments
Corporate Bonds
Equity
6,755
200,755
Money Market
Mutual Funds
1,004
Venture Fund
Total
7,759
200,755
Grand Total
148,284
2,755,211
94.77%
92.71%
5.23%
7.29%
Schedule F 2
(` 000)
Linked Pension Funds Pension Bluechip und Pension Dynamic P/E Fund Pension Flexi Balanced Fund Pension Income Fund Pension Money Market Fund Pension Flexi Growth Fund Pension Maximiser Fund Pension Multi Cap Balanced Fund Pension Multi Cap Growth Fund Pension Multiplier Fund
Particulars
Pension Balancer Fund
Approved investments 7,989 3,061,922 2,227,878 4,118,220 1,896,166 133,248 597,381 12,042,804 481,185 2,603,394 2,059,789 51,223,823 1,427,287 32,542,088 69,952 58,376 4,820 27,775 23,980 233,118 14,143 366,333 3,120 9,100 307,712 45,004 53,520 508,521 4,916,886 781,139 1,158,357 295,492 431,361 2,522,099 1,007,498 46,073,819 31,017,398 150,369 260,769 22,134 272,524 141,686 5,255 9,910 496,499 299,446 312,860 44,990 23 3,159,838 702,132 35,319 3,897,289 8,379,701 1,121,597 107,457 9,608,755
Government Bonds
Corporate Bonds
90,093
42,748
Equity
71,724
Money Market
85,560
Mutual Funds
916
Deposit with Banks
12,119
Total
303,169
Other investments 8,460 774,653 338,084 1,121,197 13,164,001 91.48% 8.52% 9.19% 8.64% 90.81% 91.36% 529,872 2,849,579 2,385,822 86.33% 13.67% 48,687 246,185 326,033 3,571 18,507 17,750 7,891,781 59,115,604 86.65% 13.35% 45,116 227,678 306,201 7,891,781 49,005 58,144 1,485,431 96.09% 3.91% 2,082 9,139 3,776,707 113,081 3,889,788 36,431,876 89.32% 10.68% 4,076 4,076 311,788 98.69% 1.31% 3,961 26,766 37,359 68,086 564,585 87.94% 12.06% 338,448 25,283 363,731 4,261,020 91.46% 8.54% 1,077,560 80,218 1,157,778 10,766,533 89.25% 10.75%
Corporate Bonds
220
Equity
8,622
Money Market
Mutual Funds
Venture Fund
Total
8,842
Grand Total
312,011
97.17%
2.83%
139
140
(` 000)
Linked Pension Funds Pension Protector Fund Pension RICH Fund Secure Plus Pension Fund Pension Return Guarantee Fund Pension Return Guarantee Fund II Pension Return Guarantee Fund III Pension Return Guarantee Fund IV Pension Return Guarantee Fund V Pension Return Guarantee Fund VI Pension Return Guarantee Fund VII Total 150,891 40,222 1,913,841 13,341 359,619 2,477,914 13,394,656 2,045,595 1,872,325 1,816,419 647,531 342,984 1,036,698 193,931 73,537 155,594 107,818 20,211 18,440 435,909 137,175 2,773 12,941 18,888 4,335 3,122 4,548 3,744,330 7,842 1,300 735,231 3,484,891 292,223 370,487 332,298 123,961 71,585 138,032 179,348 4,785,984 1,556,668 1,415,360 1,309,639 411,417 248,067 274,889 546,741 29,307,907 3,370,249 352,408 33,030,564 205,578 6 55,977 32,822 30,831 588 18,988 139,212 213,605 14,564,942 7,769,767 127,828,293 20,920,512 1,528,936 2,742,974 175,569,029 2,477,914 100.00% 0.00% 0.54% 0.00% 99.46% 100.00% 100.00% 0.00% 13,467,287 2,045,595 1,872,325 72,631 3,555 1,819,974 99.80% 0.20% 25,874 3,555 647,531 100.00% 0.00% 46,757 342,984 100.00% 0.00% 1,498 1,498 437,407 99.66% 0.34% 27,907 498 28,405 763,636 96.28% 3.72% 2,919,299 197,541 3,116,840 36,147,404 91.38% 8.62% 139,212 100.00% 0.00% 98,526 17,470,461 927,448 18,496,435 194,065,464 90.47% 9.53%
Schedule F 2
Particulars
Government Bonds
Corporate Bonds
Equity
1,466,205
Money Market
155,202
financial Report
Mutual Funds
15,491
Deposit with Banks
Total
1,636,898
Other investments
Corporate Bonds
Equity
77,629
Money Market
Mutual Funds
11,548
Venture Fund
Total
89,177
Grand Total
1,726,075
94.83%
5.17%
Schedule F 2
(` 000)
Linked Health Funds
Particulars
HealthReturn Guarantee Fund
Total
Approved investments 3,340 1,603 13,149 9,471 326 1,300 29,189 543,353 79,538 6,572 185,476 32,434 36,312 38,714 1,304 16,007 12,856 7,648 5,528 3,874 18,686 6,430 911 11 1,795 109 93 406 120 50,856 4,747 5,007 65,189 486,067 73,880 68 2,101 9,554 42,509 2,178 2,348 7,064 6,093 1,398 250 59,976 17,291 26,223 25,716 8,599 5,987 4,232 1,650 59 170 6,111 2,771 1,436 121 4,328 160,075 69,002 583,779 147,184 10,689 53,453 1,024,182 3,107 118 3,225 32,414 84.60% 15.40% 11.78% 0.00% 88.22% 100.00% 642,287 90,158 6,572 186,542 99.43% 0.57% 98,934 10,620 1,066 3,340 667 1,066 32,434 100.00% 0.00% 95,594 9,953 36,312 100.00% 0.00% 100 100 38,814 99.74% 0.26% 18,686 100.00% 0.00% 9,554 100.00% 0.00% 6,111 100.00% 0.00% 151 151 4,479 96.63% 3.37% 151 110,021 5,598 115,770 1,139,952 89.84% 10.16%
Government Bonds
Corporate Bonds
5,691
2,723
Equity
10,683
Money Market
11,914
Mutual Funds
361
Deposit with Banks
2,544
Total
33,916
Other investments
Corporate Bonds
Equity
1,367
Money Market
Mutual Funds
307
Venture Fund
Total
1,674
Grand Total
35,590
95.30%
90.05%
4.70%
141
142
(` 000)
Linked Group Funds Grand Total Group Capital Guarantee Debt Fund Group Growth Fund Total Group Capital Guarantee Growth Fund Group Capital Group Guarantee Debt Fund Short Term Debt Fund Group Leave Encashment Balance Fund Group Leave Encashment Income Fund Group Group Group Group Leave Group Return Return Return Encashment Short Term Guarantee Guarantee Guarantee Short Term Debt fund Fund Fund II Fund III Fund 21 123,741 102,832 130,039 299 20,320 379,652 45,568 2,164,327 4,706,073 4,635,218 444,500 47,711 91 2,080 431,737 173,729 147,183 26,755 7,189 25 326,083 2,444,140 458 17,316 43,756 49,975 4,676 453 16,228 10,825 1,524,874 1,045,762 945,682 143,582 12,896 1,178 32,130 111,208 14,160 2,375,378 67,097 6,662 95,958 1,412,634 401,681 70,283 10,086 516,164 6,566 402,335 21,509 2,002,864 11,381 94,442 2,030,108 715,242 132,093 17,087 1,585,665 71,335 1,579,020 2,421 2 84 77 14 66 74,542 167,452 5,049,548 61,671 784,306 6,137,519 16,415 9,638,558 5,227,562 4,209,599 12,505,976 259,143 2,939,551 34,796,804 765,821 42,807,852 23,947,989 330,659,308 52,693,258 2,750,215 9,850,914 463,475,357 379,652 100.00% 0.00% 4.50% 0.00% 95.50% 100.00% 100.00% 0.00% 47,713 2,164,327 2,145 285,015 13,832 8,731 15,764 460,264 94.21% 5.79% 96.58% 3.42% 2,145 267,290 7,033 322 322 48,033 99.33% 0.67% 3,893 91 100.00% 0.00% 2,444,140 100.00% 0.00% 119 119 111,327 99.89% 0.11% 77,896 1,789 79,685 2,082,549 96.17% 3.83% 9,161 9,161 6,146,680 99.85% 0.15% 92,893 463,483 33,954 590,331 35,387,135 98.33% 1.67% 348,218 43,976,366 1,344,521 21,837 45,690,943 509,166,300
Schedule F 2
Particulars
Group Balanced Fund
Group Capital Guarantee Balanced Fund
Government Bonds
13,730
Corporate Bonds
2,745,285
458,616
1,681,848
353,061
Equity
1,478,637
274,327
Money Market
3,094,646
548,122
financial Report
Mutual Funds
34,310
7,314
Deposit with Banks
830,585
157,429
Total
9,879,041
1,798,890
Other investments
Corporate Bonds
11,104
Equity
157,488
29,527
Money Market
Mutual Funds
Venture Fund
Total
168,592
29,527
Grand Total
10,047,633
1,828,417
4,706,073 4,920,233
98.32%
98.39%
1.68%
1.61%
Schedule F 3
(` 000)
Linked Life Funds Balancer Fund 345,214 13,651 1,487 95,264 9,206 464,822 5,299 125,702 25,092 35,785 654,796 17,622 40,654 692,073 4,879 232 239 515 4,313 155,788 8 1,379 1 5,050 15,154 24,553 10,092 87,393 15,826 2,514 (112,330) 4,821 2,625 63 2,849 6,979 1,320 399,548 12,167 765,694 7 14 388 8,344 116 29,319 4 46,226 1,319 47,555 10 2,159 10 482 10 10 586 8,752 10 10 10 101,171 19,190 3,713 1,778 23,892 638 47 147 10 4,097 107,141 60,166 171,414 Bluechip Fund Cash Plus Fund Dynamic P/E Fund Flexi Balanced Fund Income Fund Maximiser Fund Multiplier Fund Flexi Growth Fund Invest Shield Fund - Life Money Market Fund Multi Cap Balanced Fund Multi Cap Growth Fund New Invest Shield Balanced Fund 25,327 626 185 1,810 4,863 2,468 35,279
Current Assets as at march 31, 2010
Particulars
Anmol Nivesh Fund
Accrued Interest
Cash & Bank Balance
Dividend Receivable
Unit Collection A/c
11
Total
23
(` 000)
Linked Life Funds Pinnacle Fund 3,590 10 280 265,480 7,541 276,901 77,628 321,066 31,557 165 665 28,879 61,050 (30,324) (32) 21,985 (65) 27,583 10 9,376 10 10 9 11 (678) 12,568 16,403 319,364 31,547 28,901 27,639 13,235 Preserver Fund Protector Fund Return Return Return Return Return Return Return Guarantee Guarantee Guarantee Guarantee Guarantee Guarantee Guarantee Fund Fund II Fund III Fund IV Fund V Fund VI Fund VII 5,109 11 (17) 5,103 3,218 11 1,226 (1) 4,454 1,460 10 2 1,472 RICH Fund 10 1,197 240,983 60,235 302,425 Secure Plus Fund 7,192 10 478 1,341 193 9,214 Secure Save Secure Builder Save Guarantee Fund Fund 70 10 1 22 23 126 602 10 2 127 87 49 877 Total
Particulars
Opportunities Fund
Accrued Interest
979,456 35,857 45,441 1,306,598 775,371 295,739 3,438,462
Cash & Bank Balance
10
Dividend Receivable
Unit Collection A/c
14,380
375
Total
14,765
143
144
(` 000)
Linked Pension Funds Pension Balancer Fund 160,831 4,359 886 11,134 28,008 15,051 220,269 51,665 427,956 30,725 543,456 161,461 241,590 1,320 7,606 4,010 130,746 71 16 69,257 50,283 420,112 10,403 149,578 150,081 (18,921) 68,975 1,001 251,924 250,998 32,996 878 35,700 52 228 555 11,197 9,503 61 10 10 319 11 10 10 10 35 14,437 11,299 256 1,730 10 425,165 7,799 432,974 Pension Bluechip Fund Pension Dynamic P/E Fund Pension Income Fund Pension Flexi Balanced Fund Pension Flexi Growth Fund Pension Maximiser Fund Pension Money Market Fund Pension Multi Cap Balanced Fund Pension Multi Cap Growth Fund Pension Multiplier |Fund 10 2,468 72,022 29,415 103,915
Schedule F 3
Current Assets as at march 31, 2010 (Contd.)
Particulars
Accrued Interest
4,547
Cash & Bank Balance
123
Dividend Receivable
26
3,758
Unit Collection A/c
270
275
financial Report
Total
8,999
(` 000)
Linked Pension Funds Pension Preserver Fund 14,856 10 35,208 125 50,199 366,227 95,184 666 60,335 100,080 (103) (69) 15,159 (940) 72,201 5,222 10 11 10 245,100 95,277 60,393 73,131 33,687 10 (290) 33,407 Pension Protector Fund Pension Return Guarantee Fund Pension Return Guarantee Fund II Pension Return Guarantee Fund III Pension Return Guarantee Fund IV Pension Return Guarantee Fund V 13,605 10 (143) 13,472 Pension Return Guarantee Fund VI 13,038 9 5,605 (440) 18,212 Pension Return Guarantee Fund VII 22,598 10 350 39 22,997 Pension RICH Fund 10 2,138 239,742 96,901 338,791 Secure Plus Pension Fund 3,022 10 210 640 84 3,966 Total
Particulars
Accrued Interest
767,807 10,250 27,114 539,789 1,969,931 299,253 3,614,144
Cash & Bank Balance
11
Dividend Receivable
Unit Collection A/c
206,924
4,251
Total
211,186
Schedule F 3 (Contd.)
(` 000)
Linked Health Funds
Current Assets as at march 31, 2010
Particulars
Health Balancer Fund 148 10 2 24 1,774 54 2,012 31,059 4,698 428 12,635 2,506 1,865 1,912 1,424 201 9 1,034 26,908 3,674 342 9,299 6 17 56 (9) 5 509 2,653 796 263 65 17 9 10 9 10 10 10 10 10 9 10 100 (4) 307 77 3,054 2,490 1,838 1,846 1,033 495 201 121 57 178
Total
Accrued Interest
410
11,713 174 85 3,981 44,258 1,729 61,940
Cash & Bank Balance
10
Dividend Receivable
145
Unit Collection A/c
2,190
41
Total
2,797
(` 000)
Linked Group Funds Grand Total Total Group Growth Fund Group Leave Encashment Balance Fund 6,409 10 471 30,284 (56,665) 32,422 234 981,348 8,326 17,515 19 1,438 3,094 10,970 Group Leave Encashment Income Fund 1,104 10 106 2 1,222 Group Group Group Group Group Leave Return Return Return Short Encashment Guarantee Guarantee Guarantee Term Debt Short Term Fund Fund II Fund III fund Fund 1 7 21,136 21,144 109,357 11 10,574 119,942 6,744 10 1,152 7,906 73,228 9 17,295 108 90,640 21,645 10 464,976 486,631
Particulars
Group Balanced Fund
Group Group Group Group Capital Capital Capital Capital Group Guarantee Guarantee Guarantee Guarantee Debt Fund Balanced Growth Short Term Debt Fund Fund Fund Debt Fund 25,713 10 111 4,506 10,752 1,097 42,189 6,524 1,413 18 55 390 594 20,696 150 214 6,785 874,028 3 10 10 10 9 9 5,956 537 11,716 100,292 35,090
Accrued Interest
146,031
543,823 136 1,194 67,168 1,488,155 15,868 2,116,344
2,302,799 46,417 73,834 1,917,536 4,277,715 612,589 9,230,890
Cash & Bank Balance
11
Dividend Receivable
590
23,791
Unit Collection A/c
120,027
6,028
Total
296,478
145
146
(` 000)
Linked Life Funds Bluechip Fund (7,016) (3) (7,019) (204) (4,508) (148) (210,332) (10,165) (65) (446,188) (1) (2,788) (295,289) (45,848) (204) (8) (148) (4,223) (7) (65) (6,850) (1) (2) (24) (4,500) (206,109) (10,158) (144,049) (2,786) (45,824) (216,074) (1,420) (217,494) Cash Plus Fund Dynamic P/E Fund Flexi Balanced Fund Income Fund Maximiser Fund Multiplier Fund Flexi Growth Fund Invest Shield Fund - Life Money Market Fund Multi Cap Balanced Fund Multi Cap Growth Fund New Invest Shield Balanced Fund (5,760) (87) (5,847) (48,016) (1,487) (26,015) (75,518)
Schedule F 4
CURRENT LIABILITIES as at march 31, 2010
Particulars
Anmol Nivesh Fund
Balancer Fund
Total
(` 000)
Linked Life Funds Pinnacle Preserver Protector Fund Fund Fund (16,682) (120) (16,802) (74) (588) (61) (65) (65) (28) (32) (34) (34) (15) (6) (12) (74) (588) (29) (31) (31) (13) (6) (5) (6) (11) Return Guarantee Fund Return Guarantee Fund II Return Guarantee Fund III Return Guarantee Fund IV Return Guarantee Fund V Return Guarantee Fund VI Return Guarantee Fund VII (2) (2) RICH Fund (1,248) (1,248) Secure Plus Fund (12) (12) Secure Save Builder Fund Secure Save Guarantee Fund (1,270) (2) (1,272) Total
financial Report
Particulars
Opportunities Fund
(11,970)
(720,214) (16,696) (321,431) (1,058,341)
(6)
Total
(11,976)
(` 000)
Linked Pension Funds Pension Balancer Fund (6,061) (623) (6,684) (50,107) (20) (50,087) (83,884) (113) (83,997) Pension Bluechip Fund Pension Dynamic P/E Fund Pension Flexi Balanced Fund (103) (103) Pension Flexi Growth Fund (214,443) (3,161) (217,604) Pension Income Fund (81,265) (58) (81,323) Pension Maximiser Fund (1,811) (100,899) (102,710) Pension Money Market Fund (7) (7) Pension Multi Cap Balanced Fund (40,580) (21) (40,601) Pension Multi Cap Growth Fund (731,782) (144) (731,926) Pension Multiplier Fund (72,025) (629) (72,654)
Particulars
(13)
Total
(13)
Schedule F 4
(` 000)
Linked Pension Funds Pension Preserver Fund Pension RICH Fund (910,701) (2,015) (912,716) (5) (5) (56) (56) (555) (204) (185) (181) (65) (34) (44) (36) (107) (97) (95) (34) (18) (23) (555) (97) (88) (86) (31) (16) (21) (36) Pension Protector Fund Pension Return Guarantee Fund Pension Return Guarantee Fund II Pension Return Guarantee Fund III Pension Return Guarantee Fund IV Pension Return Guarantee Fund V Pension Return Guarantee Fund VI Pension Return Guarantee Fund VII Secure Plus Pension Fund Total
CURRENT LIABILITIES as at march 31, 2010 (Contd.)
Particulars
(180,123)
(2,370,951) (9,772) (101,273) (2,481,996)
(63)
Total
(180,186)
(` 000)
Linked Health Funds
Particulars
Health Balancer Fund (1) (1) (665) (4) (10,162) (4) (2) (29) (4) (4) (2) (2) (2) (4) (636) (10,158) (2) (2) (4)
Health Return Guarantee Fund IV (1) (1) (2)
Health Return Guarantee Fund V (1) (1)
Total
(10,794) (46) (8) (10,848)
(1)
Total
(1)
(` 000)
Linked Group Funds Grand Total Group Debt Fund Group Growth Fund Total Group Capital Guarantee Debt Fund (20,316) (17) (20,333) (3) (3) (95) (109) (204) Group Capital Guarantee Growth Fund Group Capital Guarantee Short Term Debt Fund Group Leave Encashment Balance Fund (126,976) (184) (127,160) (196) (196) (18) (276) (294) Group Leave Encashment Income Fund (3,809) (2) (3,811) Group Group Group Group Leave Return Return Return Encashment Guarantee Guarantee Guarantee Short Term Fund Fund II Fund III Fund (135) (128) (263) (6) (6) (12) (114) (114) Group Short Term Debt fund (242) (308) (550)
Particulars
Group Balanced Fund
Group Capital Guarantee Balanced Fund (97) (97)
(151,101) (1,511) (827) (153,439)
(3,253,060) (28,025) (423,539) (3,704,624)
(402)
Total
(402)
147
148
(` 000)
Linked Life Funds Balancer Fund Bluechip Fund Cash Plus Fund Discontinued Fund - Life Dynamic P/E Fund Highest NAV Fund B Income Fund Maximiser Fund Flexi Balanced Fund Flexi Growth Fund Invest Shield Fund - Life Money Market Fund Multi Cap Balanced Fund 84 5 1 90 13 187,569 656,804 1,247,984 11,724,102 12,972,086 (16,385) 335,306 1 (30,713) (712) 218,520 953 (15,673) 116,786 1 (31,666) 90,735 370,253 460,988 29,667 230,968 162,661 95,441 26,151 154,768 122,087 42,153 223,896 1,092,176 2,593,409 5,029,076 10,853,149 15,882,225 245,339 3,516 76,200 40,574 53,288 1,501,233 1,904,788 13,994 347,754 1 130,995 186,176 7,622,485 20,159 291 2,638 2,929 17,230 17,230 3,091 1,231 63 23,440 (8,759) (337,327) 1,708 (1,353,872) 10,258 (77,877) 62,419 (126,750) (1,383,521) 17,946 1,990 70 55,799 10,111 50,878 60,989 (5,190) (4,899) (10,089) 384,414 (1,192) 12,753 741 87,110 1,092,447 404 17,660 (45,527) 219 112,803 24,074 44,210 68,284 44,519 228,204 272,723 1,738,413 2,054 3,625 5,197 134,373 7,269,306 126 6,759 44,621 120,606 1,629 14,337 18,296 910,171 57 4,937 1,350,691 19,681,873 3,778,567 (11,835,680) 55,283 13,151,377 1,209,361 1,014,414 666,273 2,890,048 10,261,329 44,402,254 54,663,583 1,012,136 14 409,190 1 24,861 81,906 71,409 322 46,576 90,893 120,643 28,456 1,717 59 41 30,273 3,311 15,976 19,287 10,986 (475) 10,511 6,341 617 2,142 (119) 1,341 886 11,208 3,160 11,244 14,404 (3,196) (554) (3,750)
3.19 Fund income and expenditure account for the year ended march 31, 2011 Form A-RA(UL)
Particulars
Schedule
Anmol Nivesh Fund
Income from investments
Interest income
Dividend income
Profit/(loss) on sale of investment
Profit/(loss) on inter fund transfer/ sale of investment
financial Report
Unrealised Gain/(loss)*
AppropriationExpropriation (Incom/Exp)
Total Income (A)
Fund management expenses #
Fund administration expenses #
Other charges
F-5
175
Total Expenditure (B)
188
Net Income for the year (A-B)
(98)
Add: Fund revenue account at the beginning of the year
(15)
Fund Revenue Account at the end of the year
(113)
* Net change in mark to market value of investments # Gross of service tax
3.19 Fund income and expenditure account for the year ended march 31, 2011 (Contd.) Form A-RA(UL)
(` 000)
Linked Life Funds Multiplier Fund New Invest Shield Balanced Fund Pinnacle Fund Pinnacle Fund II Preserver Fund Protector Fund Opportunities Fund Return Guarantee Fund Return Guarantee Fund II Return Guarantee Fund III Return Guarantee Fund IV Return Guarantee Fund V Return Guarantee Fund VI
Particulars
Schedule
Income from investments 16,509 329,193 1,185,650 943,444 328,555 (124,504) 2,678,847 564,093 212,296 776,389 1,902,458 3,777,296 5,679,754 330,961 (26,063) (77,743) 250,771 (144) (51,849) (17,491) 80,190 (25,919) (25,894) (17,491) 83,978 55,175 443,630 42,954 64,364 211,572 601,271 812,843 51,328 47,600 379,377 36,295 31,857 4,431 459 118,531 224,020 428,710 508,088 3,383,915 3,892,003 32,650 7,575 59,822 6,200 32,507 86,159 164,168 29,256 417,736 25,463 275,936 936,798 39,134 10,698 13,022 23,720 15,414 27,171 42,585 338 2,908 9,323 5,375 (340) (1,438) 1 (58,744) 11,255 217,844 15,754 (5,007) (239,946) (20,075) (16,947) 1 41,198 11,227 17,153 28,380 12,818 24,410 37,228 8,116 (1,847) 3,012 1,495 930 61,620 208 479 672 (18,095) 1 39,662 11,094 16,738 27,832 11,830 19,243 31,073 98,243 11,607 85,668 (5,255) 14,517 695 3,033 1,441 2,825 9,300 4,021 37,541 1,331 1,144 (440) (7,747) 1 17,375 4,734 7,372 12,106 5,269 1,655 6,924 106,915 1,312 64,348 6,763 265,836 1,115,867 55,967 56,224 54,259 24,417 10,031 (318) (271) (3,315) 6,127 1,970 4,423 6,393 (266) (2,649) (2,915) 9,807 (178) (319) (2,667) 6,643 1,926 3,547 5,473 1,170 (890) 280
Interest income
4,024
Dividend income
19,664
57,941
9,424
32,679
Appropriation-Expropriation
(Incom/Exp)
11,408
Total income (A)
135,140
Fund management charges #
29,931
Other charges
F-5
182,020
Total expenditure (B)
211,951
Net income for the year (A-B)
(76,811)
(5,821)
Fund revenue account at the end of the year
(82,632)
149
150
(` 000)
Linked Life Funds Return Guarantee Fund VIII (10 Yrs) RICH Fund Secure Plus Fund Secure Save Builder Fund Secure Save Guarantee Fund Return Guarantee Fund VIII (5 Yrs) Return Guarantee Fund IX (10 Yrs) Return Guarantee Fund IX (5 Yrs) Return Guarantee Fund X (10 Yrs) Return Guarantee Fund X (5 Yrs) Return Guarantee Fund XI (5 Yrs) Total 8,720 (610) (889) 1,982 14 9,217 1,766 945 2,711 6,506 6,506 4,459 2,595 11,024 4,459 2,595 11,024 4,832 4,832 10,282 834 7,946 1,345 3,849 359 3,281 702 5,076 10,238 20,887 20,887 6,433 475 4,665 643 5,162 173 883 1,056 86 86 14,741 3,429 18,970 6,177 31,125 1,142 49 7 63 21 130 33 29,157 2,817,226 589,600 653,974 1,243,574 1,573,652 3,502,837 5,076,489 (8,469) 1,362 (4,204) 2,662 4,479 282 (1,245,991) (7,795) (274) (233) 28 (83) 471,109 (83) (4,547) (175) 19,745 4,784 4,664 9,448 10,297 49,947 60,244 442 (36) 667 338 1,529 80 3,198,129 (660) 330,113 24 143 35 965 25 1,541 239 1,182 1,421 120 (183) (63) 30,514 2,370 22,677 3,128 25,070 747 34,709 25,186 373 3,302 305 123 (18) 1,859 51 5,622 1,380 4,962 6,342 (720) (2,054) (2,774) 3,845,619 3,152,976 33,547,247 6,861,083 (15,746,359) (327,609) 31,332,957 4,647,118 1,361,731 4,325,257 10,334,106 20,998,851 79,364,810 100,363,661 (14) 13
3.19
Fund income and expenditure account for the year ended march 31, 2011 (Contd.)
Form A-RA(UL)
Particulars
Schedule
Interest income
3,712
Dividend income
financial Report
Unrealised Gain/(loss)* (4)
(1,070)
AppropriationExpropriation (Incom/Exp)
Total income (A) 741
2,637
Other charges
F-5
2,034
2,775
(138)
(896)
(1,034)
3.19
(` 000)
Linked Pension Funds Pension Balancer Fund Pension Bluechip Fund Pension Dynamic P/E Fund Pension Flexi Balanced Fund Pension Flexi Growth Fund Pension Income Fund Pension Maximiser Fund Pension Money Market Fund Pension Multi Cap Balanced Fund Pension Multi Cap Growth Fund Pension Multiplier Fund Pension Opportunities Fund
Form A-RA(UL)
Particulars
Schedule
Income from investments 625,659 55,070 649,480 193,635 (643,177) 1,359 882,026 153,886 75,091 109,171 338,148 543,878 4,384,430 4,928,308 (49,733) 44,934 431,614 4,015 13,224 309,385 9,640,452 15,307,930 (53,748) 31,710 122,229 5,667,478 117,612 967,483 73,170 2,018,463 370,582 (167,952) (29,615) (197,567) 102,330 846,045 30,352 756,113 326,824 91,945 141,146 769,673 3,534,031 12,978,786 16,512,817 15,282 121,438 42,818 1,262,350 43,758 536,582 63,864 999,193 195,399 7,685,941 202,630 4,303,704 63,097 7,277 75,469 82,746 (19,649) (7,322) (26,971) 2,476 22,676 683 45,756 119 10,388 (66) 33,164 33,572 (62,341) 623,324 (6,889) (3,422,224) 89 4,250 (207) 35,076 862,036 (229) 923,704 1 (4,434) 17,687 1,252 71,399 15,129 97,541 112,670 (41,271) (4,646) (45,917) 14,684 806,639 122,396 5,229,429 8,296 6,267,422 4,722 21,738 9,166 76,928 16,196 814,739 491,866 5,935 93,725 349,485 169,470 341,072 17,706 979,413 106,561 745,134 851,695 127,718 (7,327) 120,391 124 59,585 83,389 110,657 201,333 32,548 58,351 29,221 7,955 6,732 132,137 1,253,540 238,445 (767,418) 6,425 869,861 266,704 170,179 436,883 432,978 1,596,897 2,029,875 4,715 37,296 121,771 8,512 112,644 7,253 292,191 48,867 322,355 371,222 (79,031) 11,685 (67,346)
Interest income 856
18,162
Dividend income
8,468
2,215
Unrealised Gain/(loss)* 45
(6,309)
Appropriation-Expropriation (Incom/Exp)
Total income (A)
23,437
4,809
Other charges
F-5
4,087
8,896
14,541
68,956
83,497
151
152
(` 000)
Linked Pension Funds Pension Protector Fund Pension Return Guarantee Fund Pension RICH Fund Pension Return Guarantee Fund II Pension Pension Pension Pension Pension Pension Return Return Return Return Return Return Guarantee Guarantee Guarantee Guarantee Guarantee Guarantee Fund III Fund IV Fund V Fund VI Fund VII Fund VIII Pension Return Guarantee Fund IX (10 Yrs) Pension Return Guarantee Fund X (10 Yrs) Secure Plus Pension Fund Total 1,236,892 5,560 24,069 (182,735) 331 1,084,117 81,612 153,368 223,089 458,069 626,048 1,736,886 2,362,934 226,317 230,490 201,259 51,560 173,497 173,396 145,573 31,833 9,134 14,233 52,820 57,094 55,686 19,727 5,099 69,750 53,083 55,213 22,331 13,316 17,639 8,323 9,994 18,317 34,391 21,232 24,175 11,252 7,566 10,132 27,344 40,017 4,637 (3,562) 1,075 35,359 31,851 31,038 11,079 5,750 7,507 12,673 122,570 110,177 110,899 42,058 18,415 25,962 44,654 4,682 895 117 1,012 3,670 3,670 2 2 4 1 1 1 (76) 7 (74,535) (56,001) (46,204) (12,049) (7,863) (8,784) (15,156) 879 369 2 1,138 178 30 208 930 930 3,934 (805) 1,803 (1,703) (1,861) (2,365) (2,252) (295) (55) 12,885 6,722 4,750 (1,122) (575) (929) (359) (351) (71) 87 1 726 5 1,700 180 65 245 1,455 1,455 180,284 160,259 150,546 56,931 28,713 38,039 62,497 4,442 893 881 105,757 517,624 3,429,007 598,831 (339,459) 38,349 4,350,109 926,038 654,996 1,581,034 2,769,075 6,209,573 8,978,648 10,570 10 (207) (7) (2,119) (76) 8,171 2,039 811 2,850 5,321 29,877 35,198 3,515,900 2,251,548 18,325,007 3,051,769 (4,489,618) 154,700 22,809,306 3,801,037 320,404 4,778,862 8,900,303 13,909,003 37,596,765 51,505,768
3.19
Form A-RA(UL)
Particulars
Schedule
Interest income
240,765
Dividend income
11,540
financial Report
119
75
Total income (A)
252,499
29,377
Other charges
F-5
36,916
66,293
186,206
121,644
307,850
3.19
(` 000)
Linked Health Funds
Form A-RA(UL)
Particulars
Schedule
Total
Income from investments 1,402 288 1,469 560 237 55 4,011 520 21,623 22,143 (18,132) (6,649) (24,781) (410,360) (49,601) (5,243) (157,159) (79,296) (8,260) (1,854) (56,406) (34,703) (37,946) (331,064) (41,341) (3,389) (100,753) (3,243) 405,713 51,796 4,140 122,770 6,137 8,049 (5,814) (39,430) (45,244) 391,384 49,787 4,055 120,529 5,597 7,470 8,523 9,133 (6,854) (37,986) (44,840) 14,329 2,009 85 2,241 540 579 610 74,649 10,455 751 22,017 2,894 2,235 2,279 1,143 291 4,224 4,515 (3,372) (16,559) (19,931) 1,838 253 8 4,761 2,852 4 (946) (476) (845) (875) (325) (143) 553 137 2,909 3,046 (2,493) (8,294) (10,787) 15,233 3,146 1,107 5 175 133 28 (1) (41) (73) 303 85 2,147 2,232 (1,929) (4,242) (6,171) 43,013 3,054 56 3,329 611 116 45 52 (32) (10) 9,363 1,145 (6) (57) 222 58 2,123 2,181 (1,959) (1,101) (3,060) 441 5 691 18,519 2,754 2,789 2,976 1,388 729 427 285 1 1 (1) (1) 34,620 10,964 52,781 20,703 4,245 2,193 125,506 22,061 642,644 664,705 (539,199) (303,089) (842,288)
Interest income
2,214
Dividend income
168
1,078
364
131
39
Total income (A)
3,994
577
Other charges
F-5
22,272
22,849
(18,855)
(8,309)
(27,164)
153
154
(` 000)
Linked Group Funds Group Capital Guarantee Balanced Fund Group Debt Fund Group Growth Fund Group Capital Guarantee Debt Fund Group Capital Guarantee Growth Fund Group Capital Guarantee Short Term Debt Fund Group Leave Encashment Balance Fund Group Leave Encashment Income Fund Group Leave Encashment Short Term Fund 895,481 33,507 306,572 79,388 (140,504) 3,526 1,177,970 213,099 213,099 964,871 2,507,504 3,472,375 340,451 351,193 20,754 217,662 326,105 16,277 122,789 25,088 4,477 131,872 427,960 559,832 38,058 6,860 1,480 35,705 86,679 358,342 663,060 1,021,402 38,058 6,860 1,480 35,705 86,679 160,847 31,948 5,957 167,577 445,021 140 (39) 19 226 77 1,262 606,511 78,494 78,494 528,017 1,190,273 1,718,290 (18,254) (800) (31) (8,668) (62,471) (181,390) 10,609 1,772 194 719 50,476 74,086 42,109 2,686 2,945 15,948 14,612 503,828 12,328 7,185 (9,830) 577 41,978 7,093 7,093 34,885 72,523 107,408 4,682 289 43,716 1,238 121,561 28,329 2,541 159,352 442,327 165,009 30,480 3,442 69 196 (129) 3,578 668 668 2,910 1,524 4,434 1,238 53 4 (1) 1,294 247 247 1,047 3,913 4,960
3.19
Form A-RA(UL)
Particulars
Schedule
Group Balanced Fund
Interest income
Dividend income
Unrealised gain/(loss)*
financial Report
Total income (A)
Fund management expenses # @
Other charges
F-5
* Net change in mark to market value of investments # Gross of service tax @ ` 289,064 thousand on account of year end adjustment for fund management charges (of group business) recovered is not included above and shown under Policyholders Contribution in Schedule F-1
3.19
(` 000)
Linked Group Funds Group Return Guarantee Fund - A4 Group Return Guarantee Fund II Total Group Return Guarantee Fund - S5 Group Return Guarantee Fund - S6 Group Return Guarantee Fund III Group Short Term Debt fund Group Superannuation Corporate Bond Fund Grand total
Form A-RA(UL)
Particulars
Schedule
Income from investments 200,779 12,473 (818) (55,487) (6) 156,941 50,780 50,780 106,161 285,540 391,701 286 286 6,073 8,804 14,877 56 2,346 42,941 73,912 136,489 210,401 56 2,346 42,941 342 8,419 116,853 328,385 62,115 62,115 266,270 1,081,635 1,347,905 3 5 85 43 (2,344) (72,575) (10,010) 285 1,662 989 2,389 78 8,741 1,031 1,031 7,710 7,710 3 205 (534) 33,822 125 293 10,273 188,295 303,499 6,149 2,559,048 83,432 947,244 226,743 (560,057) 5,952 3,262,362 627,652 627,652 2,634,710 6,939,269 9,573,979 9,955,187 5,498,920 52,872,279 10,160,298 (20,791,789) (164,764) 57,530,131 9,097,868 1,682,135 9,746,763 20,526,766 37,003,365 123,597,755 160,601,120
Interest income
Dividend income
Unrealised gain/(loss)*
Total income (A)
Fund management expenses #@
Other charges
F-5
155
156
(` 000)
Linked Life Funds Balancer Fund 35,242 103,414 29,238 19,675 187,569 26,151 154,768 122,087 42,153 1,092,176 2,638 50,878 1,494 12,581 5,506 4,130 104,850 114 2,911 2,988 44,210 1,356 253 7,161 7,228 142,802 3,671 2,402 6,931 70,516 33,090 19,480 426,204 1,120 10,042 14,523 357,214 111,386 69,809 666,273 16,370 71,418 76,330 11,315 418,320 1,404 34,254 24,297 127,864 10,400 3,749 1,149 678 15,976 Bluechip Fund Cash Plus Fund Discontinued Fund - Life Dynamic P/E Fund Flexi Balanced Fund Flexi Growth Highest NAV Fund Fund B Income Fund Invest Shield Fund - Life Maximiser Fund Money Market Fund Multi Cap Balanced Fund 6,719 2,519 1,221 785 11,244
Schedule F 5
OTHER EXPENSES AS AT MARCH 31, 2011
Particulars
Anmol Nivesh Fund
Policy administration charge
121
Surrender charge*
Switching charge*
Mortality charge
42
Rider premium charge
Partial withdrawal charge
Service tax
12
financial Report
Total
175
* Surrender & switch charges as not available at fund level have been shown under Schedule F1 Policyholders contribution
(` 000)
Linked Life Funds Multiplier Fund 47,459 106,911 31,556 26,370 212,296 51,328 47,600 3,324 2,733 15,896 379,377 3,775 16,630 8,911 62,247 17,201 1,750 36,295 31,374 32,181 301,234 17,344 5,041 19,389 4,295 3,132 31,857 New Invest Shield Balanced Fund Opportunities Fund Pinnacle Fund Pinnacle Fund II Preserver Fund Protector Fund 69,958 111,626 21,373 21,063 224,020 Return Guarantee Fund 4,107 6,666 1,118 1,131 13,022 Return Guarantee Fund II 5,721 7,942 2,059 1,431 17,153 Return Guarantee Fund III 6,446 6,323 2,367 1,602 16,738 Return Guarantee Fund IV 2,696 2,829 1,005 842 7,372 Return Guarantee Fund V 1,677 1,446 684 616 4,423 Return Guarantee Fund VI 1,139 1,440 622 346 3,547
Particulars
123,678
Surrender charge*
Switching charge*
Mortality charge
33,896
14,028
Service tax
10,418
Total
182,020
Schedule F 5
(` 000)
Linked Life Funds
OTHER EXPENSES AS AT MARCH 31, 2011 (Contd.)
Particulars RICH Fund Secure Plus Fund Secure Save Builder Fund
Return Guarantee Fund VII 450 443 6 46 945 3,849 359 3,281 702 5,076 883 198 15 122 36 220 35 64,048 653,974 5 2 7 3 3 109,343 379 4,664 1,920 142 1,187 349 2,141 340 217,213 2,394 34 1,182 1,726 200 1,972 310 2,712 505 263,370 1,891 1,148 4,816 146 4,962
Return Guarantee Fund VIII (10 Yrs) Secure Save Guarantee Fund
Total
762
1,763,971 1,679,131 500,554 381,601 4,325,257
Surrender charge*
Switching charge*
Mortality charge
701
436
Service tax
135
Total
2,034
* Surrender & switch charges as not available at fund level have been shown under Schedule F-1 Policyholders contribution
(` 000)
Linked Pension Funds Pension Dynamic P/E Fund Pension Income Fund 312,523 26,264 4,619 1,407 30,352 33,923 756,113 3,825 10,476 326,824 813,052 3,713 29,280 846,045 167 991 27,787 691,307 Pension Flexi Pension Balanced Flexi Growth Fund Fund Pension Maximiser Fund 112,751 14,989 4,079 9,327 141,146 Pension Money Market Fund 72,411 363 2,695 75,469 Pension Multi Cap Balanced Fund 93,400 256 3,885 97,541 Pension Multi Cap Growth Fund 706,519 8,812 29,803 745,134 Pension Multiplier Fund 159,460 3,655 628 6,436 170,179 Pension Opportunities Fund 307,972 1,400 12,983 322,355
Particulars
Invest Shield Fund Pension 97,440 5,135 1,426 5,170 109,171 102,330 3,948 481 97,901
Pension Pension Balancer Fund Bluechip Fund
3,075
Surrender charge*
Switching charge*
Mortality charge
655
122
Service tax
235
Total
4,087
*Surrender & switch charges as not available at fund level have been shown under Schedule F-1 Policyholders contribution
157
158
(` 000)
Linked Pension Funds Pension Return Guarantee Fund Pension RICH Fund 32,319 767 122 1,183 34,391 21,232 24,175 11,252 7,566 10,132 27,344 117 750 1,095 540 522 428 857 30 62 74 32 18 7 4 400 446 186 113 42 28 2 65 18,000 3,081 28,049 654,996 20,020 22,560 10,494 6,913 9,655 26,455 117 28 65 605,866 473 288 50 811 Pension Return Guarantee Fund II Pension Return Guarantee Fund III Pension Return Guarantee Fund IV Pension Return Guarantee Fund V Pension Return Guarantee Fund VI Pension Return Guarantee Fund VII Pension Return Guarantee Fund VIII Pension Return Guarantee Fund IX (10 Yrs) Pension Return Guarantee Fund X (10 Yrs) Secure Plus Pension Fund Total 4,476,458 95,536 15,625 191,243 4,778,862 4,299 1,074 7,035
Schedule F 5
Particulars
35,214
210,681
Surrender charge*
Switching charge*
Mortality charge
426
110
Service tax
1,166
financial Report
Total
36,916
223,089
(` 000)
Linked Health Funds
Particulars
Health Balancer Fund 2,186 17,426 2,011 21,623 391,384 49,787 36,331 4,619 380 4,055 313,885 39,972 3,267 97,444 11,211 120,529 4,431 471 5,597 41,168 5,196 408 11,874 695 825 5,991 654 7,470
Health Return Guarantee Fund III 911 6,830 782 8,523
Health Return Guarantee Fund IV 439 3,378 407 4,224
Health Return Guarantee Fund V 295 2,328 286 2,909
Health Return Guarantee Fund VI 233 1,717 197 2,147
Health Return Guarantee Fund VII 217 1,720 186 2,123
Health Return Guarantee Fund IX (5yrs) 1 1
Total
2,242
66,689 516,352 59,603 642,644
Surrender charge*
Switching charge*
Mortality charge
17,962
Service tax
2,068
Total
22,272
Schedule F 5
(` 000)
Linked Group Funds Group Capital Guarantee Balanced Fund Group Debt Fund Group Growth Fund Group Capital Guarantee Debt Fund Group Capital Guarantee Growth Fund Group Capital Guarantee Short Term Debt Fund Group Leave Encashment Balance Fund Group Leave Encashment Income Fund Group Leave Encashment Short Term Fund
Particulars
Group Balanced Fund
Surrender charge*
Switching charge*
Mortality charge
Service tax
Total
(` 000)
Linked Group Funds Group Total Total Group Return Guarantee Fund - A4 Group Return Guarantee Fund - S5 Group Return Guarantee Fund - S6 Group Return Guarantee Fund II Group Return Guarantee Fund III Group Short Term Debt fund Group Superannuation Corporate Bond Fund
Particulars
6,307,118 2,291,019 516,179 632,447 9,746,763
Surrender charge*
Switching charge*
Mortality charge
Service tax
Total
159
160
(` 000)
Linked Life Funds Balancer Fund Bluechip Fund Cash Plus Fund Dynamic P/E Fund Flexi Balanced Fund Income Fund Maximiser Fund Multiplier Fund Flexi Growth Fund Invest Shield Fund - Life Money Market Fund Multi Cap Balanced Fund Multi Cap Growth Fund New Invest Shield Balanced Fund 3 3 18 18 (15) (15) 11,724,102 (712) 218,520 953 370,253 5,136,014 79,502 (189,078) (12,849,778) 10,853,149 6,588,088 (712) 139,018 953 559,331 23,702,927 746,461 3,005 253,676 5,530 84,932 2,382,450 6,736 (4,899) (4,899) 223,532 2,903 198,307 5,306 44,069 1,201,189 6,440 258,616 40,437 58,693 237,017 264,313 102 55,369 224 40,863 1,181,261 296 18,256 7,334,549 2,293 392,694 6,483 644,263 26,085,377 1,837 295,710 59,222,805 1,336,688 1,172,321 918,585 3,427,594 55,795,211 (8,813) (11,392,957) 228,204 44,402,254 (1,531) 232 67 515 2,096 85,975 8 406 (503,169) 3,954,809 2,013 31,714 5,890 383,555 21,787,713 512 112,063 45,163,486 1 96 15 556 571 (475) (475) 151,617 3,511 108 39,648 368,550 23,336 691,080 2,074,495 14 67,462 (142) 147,935 3,147,127 170 85,364 12,480,456 7 17 2 583 63 782 58 1,278 1,336 (554) (554) 115,783 28 49 13,859 619,631 4,698 1,214,201 19 1,039,376 6 289,940 63 57,170 76,381 1,147 69,843 176,751 88 98 16 255 139 16,910 1,319 18,639 1,045 23,415 24,460 (5,821) 18,712 174,423 1,113,329 12,114 5,744,100 35,795 7,098,473 362,925 256,787 619,712 6,478,761 (2,701,465) (5,821) 3,777,296 76,131 7,988 138,656 19,222 213,640 847 456,484 24,631 64,648 89,279 367,205 (116,434) 250,771
3.19
Fund income and expenditure account for the year ended march 31, 2010
Form A-RA(UL)
Particulars
Schedule
Anmol Nivesh Fund
Interest income
Dividend income
financial Report
Total Income (A)
Other charges
F-5
Total Expenditure (B)
Net Income for the year (A-B)
Fund Revenue Account at the end of the year
3.19
(` 000)
Linked Life Funds
Form A-RA(UL)
Particulars RICH Fund
Schedule
Opportunities Fund
Return Return Return Return Return Return Return Pinnacle Preserver Protector Guarantee Guarantee Guarantee Guarantee Guarantee Guarantee Guarantee Fund Fund Fund Fund Fund II Fund III Fund IV Fund V Fund VI Fund VII
Secure Plus Fund
Secure Save Guarantee Fund
Total
Income from investments 5 96 30 1 4,407 375 4,914 202 4,856 5,058 (144) (144) (51,849) 601,271 3,383,915 27,171 24,410 418,981 2,448,530 (9,474) (8,206) (10,584) 19,243 (51,849) 182,290 935,385 36,645 32,616 29,827 138,285 57,712 412,851 41,777 51,249 53,022 24,100 6,506 (4,851) 1,655 130,160 33,398 222,595 31,144 39,997 41,450 19,368 512 120,363 11,265 13,074 (2,649) (2,649) 7,613 24,314 69,893 10,633 11,252 11,572 4,732 1,809 86,436 240,002 1,348,236 78,422 83,865 82,849 30,606 10,425 7,962 1,454 7,398 8,852 (890) (890) 7,541 22 (70) (65) (70) (66) (15) (6) (6) 78,734 (6,784) 130,408 10,719 11,139 14,197 4,183 786 531 (16) 2 1,230 263 1,863 2,126 (896) (2,380) 6 30,685 4,861 5,303 5,631 130 125 3 (41) 78,099 5,274,462 41,275 6,521,123 310,039 677,027 987,066 5,534,057 (2,031,220) (896) 3,502,837 (4,492) 45,512 183,996 7,759 11,487 5,983 2,345 173 164 14 942,833 6,351 170 1,508 31 28,242 3,927 5,190 9,117 19,125 30,822 49,947 2,020 161,355 9 5,013 201,246 1,003,217 55,148 56,006 57,104 23,963 9,347 7,270 1,271 23,099 20,173 127 66 33 (1) 907 23 1,155 97 1,241 1,338 (183) (183) 1,165 137 392 2,048 49 3,791 575 5,270 5,845 (2,054) 3,269,879 2,314,617 20,457,609 1,431,780 82,944,217 (328,356) 110,089,746 3,744,421 1,551,812 4,219,692 9,515,925 100,573,821 (21,209,011) (2,054) 79,364,810
Interest income
Dividend income
Total income (A)
Other charges
F-5
161
162
(` 000)
Linked Pension Funds Pension Balancer Fund Pension Bluechip Fund Pension Income Fund Pension Dynamic P/E Fund Pension Flexi Balanced Fund Pension Flexi Growth Fund Pension Maximiser Fund Pension Money Market Fund Pension Multi Cap Balanced Fund Pension Multi Cap Growth Fund Pension Multiplier Fund 13,140 892 20,882 4,794 22,069 81 61,858 3,635 3,628 7,263 54,595 14,361 68,956 4,384,430 4,015 13,224 309,385 1,835,285 (108,028) (9,014,418) 9,640,452 2,549,145 4,015 13,224 417,413 18,654,870 281,431 13,438 76,291 52,228 1,553,096 102,568 12,753 72,860 28,356 758,932 39,493 41,573 (29,615) (29,615) 55,763 123,100 685 3,431 23,872 794,164 2,080 521,038 76,470 201,696 799,204 17,323,109 (4,344,323) 12,978,786 2,830,576 17,453 89,515 469,641 20,207,966 11,958 18,122,313 4,658 1,320 7,606 2,459 80,504 71 (159,824) 1,298,275 15,818 80,590 279,327 16,975,383 3,495 14,599,807 16 1,469 253 8,538 8,791 (7,322) (7,322) 96,722 265 38,905 112,160 (1) 12,549 908,791 97 (825) 96,200 2,519,623 1,092 3,243,830 126 259 7,374 878 10,004 781 13,869 14,650 (4,646) (4,646) 52,216 195 822 10,849 467,312 373,396 250 469,914 23 1,057 41,901 52,984 7,301 52,555 1,327 1,243 896 807 967 88,369 7,799 98,838 4,847 101,318 106,165 (7,327) (7,327) 12,765 78,076 427,358 6,535 2,647,805 19,045 3,191,584 158,100 173,772 331,872 2,859,712 (1,262,815) 1,596,897
Particulars
Schedule
Interest income
Dividend income
financial Report
Total income (A)
Other charges
F-5
(` 000)
Particulars Pension RICH Fund
Schedule
Pension Return Guarantee Fund Secure Plus Pension Fund
Total
Income from investments 60 1,045 332 (18) 49,949 4,251 55,619 2,080 41,854 43,934 11,685 11,685 121,644 1,736,886 173,497 173,396 49,170 1,116,569 18,246 16,238 (1,592) 145,573 72,474 620,317 155,251 157,158 147,165 45,686 318,343 106,055 76,190 81,668 35,294 38,864 (7,031) 31,833 32,404 177,837 70,783 44,362 49,631 24,021 89,412 13,282 51,094 35,272 31,828 32,037 11,273 5,127 14,832 19,959 9,134 9,134 118,160 938,660 261,306 233,348 228,833 74,158 29,093 76 236 (214) (196) (198) (34) (18) (23) 29,625 5,463 14,168 19,631 9,994 9,994 (3,175) 76,526 42,281 38,708 37,167 10,240 2,572 1,790 241 22,655 11,405 13,182 16,645 1,164 98 (68) (345) (663) 39 19,151 4,168 18,545 22,713 (3,562) (3,562) 14,219 123,837 25,778 22,707 19,564 5,272 249 340 (55) 106,799 715,406 182,056 158,947 155,655 57,516 26,192 27,586 20,175 27,440 234,334 1,636,701 9,860 8,573,320 66,669 10,548,324 490,236 642,055 1,132,291 9,416,033 (3,206,460) 6,209,573 9,049 2,325 70 660 12 12,116 1,704 970 2,674 9,442 20,435 29,877 2,141,987 1,220,194 9,069,669 346,818 44,847,687 35,213 57,661,568 2,319,550 221,645 2,649,245 5,190,440 52,471,128 (14,874,363) 37,596,765
Interest income
Dividend income
Total income (A)
Other charges
F-5
163
164
(` 000)
Linked Pension Funds Health Flexi Balanced Fund Health Flexi Growth Fund Health Multiplier Fund Health Preserver Fund Health Protector Fund Health Return Guarantee Fund Health Return Guarantee Fund II Health Return Guarantee Fund III Health Return Guarantee Fund IV Health Return Guarantee Fund V Health Return Guarantee Fund VI Health Return Guarantee Fund VII Total 635 53 1,266 813 1,255 37 4,059 181 10,814 10,971 (6,348) (301) (6,649) (79,296) (8,260) (1,854) (4,898) (830) (121) (2,353) (56,406) (74,398) (7,430) (1,733) (54,053) 207,064 27,961 1,944 61,352 30,747 (25,044) (9,659) (34,703) 202,372 27,270 1,920 60,712 29,994 37,041 37,902 (31,432) (7,998) (39,430) 157 4,692 691 24 640 753 861 4,623 132,666 20,531 211 7,299 5,703 6,470 6,699 914 38,756 39,670 (32,971) (5,015) (37,986) 50 1,288 179 8 (5) (5) (5) 1,590 50,065 6,840 (3) 653 (7) 535 684 328 (1) 2,855 419 17,445 17,864 (15,009) (1,550) (16,559) 1,026 30,621 5,534 13 2 738 739 771 131 1,499 46,979 7,533 19 1,695 1,063 869 729 322 21 14 39 (1) 1,013 182 9,125 9,307 (8,294) (8,294) 79 2,995 419 379 718 26 182 4,941 3,914 4,332 4,520 2,075 940 484 15 5 23 527 97 4,672 4,769 (4,242) (4,242) 126 (1) (4) (11) 110 26 1,185 1,211 (1,101) (1,101) 23,272 3,546 62,009 40,403 61,991 1,545 192,766 9,637 453,105 462,742 (269,976) (33,113) (303,089)
3.19
Form A-RA(UL)
Particulars
Schedule
Interest income
Dividend income
financial Report
Total income (A)
Other charges
F-5
11,799
11,980
Net income for the year (A-B) (388)
(7,921)
(8,309)
3.19
(` 000)
Linked Group Funds Grand Total
Form A-RA(UL)
Particulars Total
Schedule
Group Group Capital Balanced Guarantee Fund Balanced Fund Group Capital Guarantee Debt Fund Group Debt Fund Group Growth Fund
Group Group Capital Capital Guarantee Guarantee Growth Short Term Fund Debt Fund
Group Group Group Group Group Group Group Leave Leave Leave Return Return Short Term Return Encashment Encashment Encashment Guarantee Guarantee Guarantee Debt Balance Income Short Term Fund Fund II Fund III fund Fund Fund Fund
Income from investments 69,059 2,277 35,993 7,257 71,342 717 186,645 24,564 24,564 162,081 55,581 217,662 326,105 16,277 427,960 663,060 1,190,273 254,985 (1,815) 258,784 311,968 (87,315) 71,120 18,092 169,176 351,092 1,277,588 62,879 9,644 72,523 10,118 1,212 39,253 58,669 51,941 5,031 275 962 562 1,524 10,118 1,212 39,253 58,669 51,941 5,031 275 261 261 1,547 2,366 3,913 81,238 19,304 208,429 409,761 1,329,529 67,910 1,237 1,808 (82) (14) (255) 65 12,139 (453) 2 (1) (243) 286,159 46,637 46,637 239,522 46,018 285,540 (153,221) 7,488 (12,517) 26,395 962,430 29,408 (13) (53) 51,495 155,987 1,213 291 3,002 1,473 169 (45) 56 17,993 (215) 1,403 (6) 10,909 2,105 2,105 8,804 8,804 31,255 8,399 48,050 79,456 237,028 16,106 (98) 305 29,954 683 279 24,384 799 3,946 1,794 22,849 108 167,927 31,438 31,438 136,489 136,489 47,299 1,939 172,860 300,843 92,075 21,881 1,391 1,501 186,960 9,044 139,230 356,199 92,058 2,245 (16,774) (73) 433,655 74,499 74,499 359,156 722,479 1,081,635 1,779,398 43,538 866,306 209,393 7,214,536 3,581,895 30,455,593 2,028,394 1,628,239 129,482,134 21,361 (270,237) 4,548,235 172,492,315 447,108 447,108 6,520,716 1,773,457 7,322,042 15,616,215 4,101,127 156,876,100 2,838,142 (33,278,345) 6,939,269 123,597,755
Interest income
379,117
Dividend income
15,799
283,171
18,173
638,007
9,457
Total income (A)
1,343,724
Fund management charges #@
101,105
Other charges
F-5
101,105
1,242,619
1,264,885
2,507,504
165
166
(` 000)
Linked Life Funds Bluechip Fund 1,202 496 111 1,094 2,903 198,307 5,306 44,069 1,201,189 6,440 40,437 918,585 556 42,899 2,641 9,514 246,394 2,383 4,577 142,104 196 605 1,278 228 387 6,432 142,312 307 2,104 134,376 18 89 73,376 493 18,735 442,868 648 15,529 497,216 67 123 2,281 1,206 8,962 23,415 81,804 1,785 9,388 369,615 3,102 18,227 144,889 275 461 10,966 42,769 120,808 29,708 63,502 256,787 Cash Plus Fund Dynamic P/E Fund Flexi Balanced Fund Income Fund Maximiser Fund Money Market Fund Multiplier Fund Flexi Growth Fund Invest Shield Fund - Life Multi Cap Balanced Fund Multi Cap Growth Fund New Invest Shield Balanced Fund 39,026 16,036 9,586 64,648
Schedule F 5
OTHER EXPENSES AS AT MARCH 31, 2010
Particulars
Anmol Nivesh Fund
Balancer Fund
27,273
Surrender charge*
Switching charge*
Mortality charge
125,134
31,174
Service tax
39,951
financial Report
Total
18
223,532
(` 000)
Linked Life Funds Preserver Fund 3,402 19,718 3,501 6,777 33,398 222,595 31,144 43,002 5,250 5,509 39,997 21,715 3,087 6,106 6,897 5,754 41,450 111,015 14,461 16,084 14,928 6,301 2,897 4,451 19,368 46,863 8,346 12,298 13,871 5,719 3,047 2,993 1,503 3,722 11,265 Protector Fund Return Guarantee Fund Return Guarantee Fund II Return Guarantee Fund III Return Guarantee Fund IV Return Guarantee Fund V Return Guarantee Fund VI 1,570 2,038 926 2,864 7,398 Return Guarantee Fund VII 362 328 207 966 1,863 RICH Fund 220,000 202,478 103,231 151,318 677,027 Secure Plus Fund 2,041 2,390 759 5,190 Secure Save Builder Fund 964 277 1,241 Secure Save Guarantee Fund 4,049 1,221 5,270 Total
Particulars
Opportunities Fund
Pinnacle Fund
2,043
59,935
1,135,301 1,719,562 498,817 866,012 4,219,692
Surrender charge*
Switching charge*
Mortality charge
463
12,550
295
Service tax
2,055
57,675
Total
4,856
130,160
Schedule F 5
(` 000)
Linked Pension Funds Pension Bluechip Fund 7,319 42 5,392 12,753 72,860 28,356 758,932 39,493 201,696 33,739 7,187 122,418 14,973 28,728 3,703 8,538 162 4,752 4,564 195 995 29,268 331 21,082 17 25 6,408 13,869 38,926 20,012 602,494 24,189 147,322 4,818 7,436 55,264 825 45,229 101,318 Pension Dynamic P/E Fund Pension Income Fund Pension Flexi Balanced Fund Pension Flexi Growth Fund Pension Maximiser Fund Pension Money Market Fund Pension Multi Cap Balanced Fund Pension Multi Cap Growth Fund Pension Multiplier Fund 139,297 3,911 619 29,945 173,772
Particulars
Invest Shield Fund Pension 68,704 6,507 1,457 25,900
Pension Balancer Fund
2,357
Surrender charge*
Switching charge*
Mortality charge
714
120
Service tax
437
Total
3,628
102,568
(` 000)
Linked Pension Funds Pension Protector Fund 145,969 4,438 1,111 26,319 177,837 70,783 8,405 5,373 44,362 357 212 2,296 1,302 1,391 238 5,725 49,631 59,725 37,475 42,277 19,808 561 99 3,553 24,021 Pension Return Guarantee Fund Pension Return Guarantee Fund II Pension Return Guarantee Fund III Pension Return Guarantee Fund IV Pension Return Guarantee Fund V 11,749 264 47 2,772 14,832 Pension Return Guarantee Fund VI 12,137 79 15 1,937 14,168 Pension Return Guarantee Fund VII 11,186 18 3 7,338 18,545 Pension RICH Fund 490,283 18,634 3,045 130,093 642,055 Secure Plus Pension Fund 509 283 178 970 Total
Particulars
Policy administration charge 357 82
23,155
23,433
1,995,844 93,655 16,883 542,863 2,649,245
Surrender charge*
Switching charge*
Mortality charge
120
Service tax
18,579
8,532
Total
41,854
32,404
167
168
(` 000)
Linked Health Funds Health Flexi Growth Fund 21,933 147,752 32,687 202,372 27,270 1,920 60,712 29,994 37,041 38,756 17,445 4,266 307 9,707 3,012 3,748 4,042 2,072 1,290 9,125 20,113 1,412 44,855 23,146 29,070 30,472 13,523 6,864 3,471 690 4,672 2,891 201 6,150 3,836 4,223 4,242 1,850 971 511 114 826 245 1,185 Health Multiplier Fund Health Preserver Fund Health Protector Fund Health Return Guarantee Fund Health Return Guarantee Fund II Health Return Guarantee Fund III Health Return Guarantee Fund IV Health Return Guarantee Fund V Health Return Guarantee Fund VI Health Return Guarantee Fund VII Total 49,235 338,104 65,766 453,105
Schedule F 5
Particulars
1,211
1,102
Surrender charge*
Switching charge*
Mortality charge
8,661
7,939
Service tax
1,927
1,773
financial Report
Total
11,799
10,814
(` 000)
Linked Group Funds Grand total Group Short Term Debt fund Total
Particulars Group Debt Fund
Group Balanced Fund
Group Capital Guarantee Balanced Fund Group Growth Fund
Group Capital Guarantee Debt Fund
Group Capital Guarantee Growth Fund
Group Capital Guarantee Short Term Debt Fund
Group Group Leave Group Leave Leave Encashment Encashment Encashment Balance Income Fund Short Term Fund Fund
Group Return Guarantee Fund II
Group Return Guarantee Fund III
3,180,380 2,151,321 515,700 1,474,641 7,322,042
Surrender charge*
Switching charge*
Mortality charge
Service tax
Total

3.20 Disclosure for ulip business 1.

ANNEXURE TO THE REVENUE ACCOUNT FOR THE YEAR ENDED MARCH 31, 2011
Policyholders Account (Technical Account) for the year ended March 31, 2011 (` 000)
Linked Life Linked Pension Total (3)=(1) + (2) Non-Unit (4) Unit (5) Total (6)=(4) + (5) Non-Unit (7) Linked Health Unit (8) Total (9)= (7) + (8) Non-Unit (10) Linked Group Total Unit Linked Unit (11) Total (12)= (10) + (11) (13)=(3)+ (6)+(9)+(12)
Particulars
Sch
Non-Unit (1)
Unit (2)
Premiums earned net (a) Premium (b) Reinsurance ceded Income from Investments (a) Interest, Dividend & Rent - Gross (b) Profit on sale/redemption of investments (c) Loss on sale/redemption of investments (d) Unrealised gain/(loss) (e) Appropriation/Expropriation Adjustment Account Other income: (a) Linked income (b) Fees & charges (c) Misc. income (d) Contribution from the Shareholders' a/c Total (A) Commission Operating expenses related to insurance business* Provision for taxation (Fringe benefit tax) Total (B) Benefits paid (Net) Change in valuation of liability in respect of life policies Total (C) SURPLUS/ (DEFICIT) (D) =(A)-(B)-(C) Provision for taxation Tax credit/(charge) SURPLUS/ (DEFICIT) AFTER TAX APPROPRIATIONS Transfer to Shareholders' a/c Balance being funds for future appropriations Total (D) 1,218,901 1,218,901 6,451,308 (3,095,959) 3,355,349 6,451,308 (1,877,058) 4,574,250 1,267,697 1,267,697 4,480,257 (1,900,014) 2,580,243 4,480,257 (632,317) 3,847,940 10,931,565 (2,509,375) 8,422,190 (1,040,732) 6,478,461 (3,095,959) (1,040,732) 3,382,502 4,598,577 (1,900,014) 2,698,563 24,410 24,410 66,114 66,114 (950,208) 6,081,065 UL2 UL1 14,864,358 (14,864,358) 18,872 18,817 21,095,660 2,236,175 8,701,123 10,937,298 713,730 1,925,439 2,639,169 7,519,193 88,672,501 836,142 836,142 70,056,415 20,875,903 90,932,318 (3,095,959) 18,872 18,817 109,768,161 2,236,175 9,537,265 11,773,440 70,770,145 22,801,342 93,571,487 4,423,234 12,189,620 (12,189,620) 886 14,345 13,990,151 1,751,092 7,167,237 8,918,329 63,468 409,777 473,245 4,598,577 74,468,730 732,923 732,923 26,685,164 48,950,657 75,635,821 (1,900,014) 886 14,345 88,458,881 1,751,092 7,900,160 9,651,252 26,748,632 49,360,434 76,109,066 2,698,563 603,240 48 831 151,947 741,531 107,427 539,483 646,910 84,860 34,171 119,031 (24,410) (603,240) 895,468 61,803 61,803 1,376 832,289 833,665 48 831 151,947 1,636,999 107,427 601,286 708,713 86,236 866,460 952,696 (24,410) 279,432 1,304 411,555 (279,432) 1,304 411,555 15,201,947 17,700 408,551 426,251 6,387,937 8,453,873 14,841,810 (66,114) 19,806 35,297 563,502 215,065,988 4,112,394 18,447,262 22,559,656 103,992,950 81,482,109 185,475,059 7,031,273 411,630 43,506,386 6,998,596 40,408,329 7,410,226 83,914,715 166,262 23,414,616 5,767,446 21,376,775 5,933,708 44,791,391 7,169 103,387 45,586 73,483 52,755 176,870 44,709 1,449,276 2,642,479 1,173,987 2,687,188 2,623,263 16,083,877 131,506,239 5,788,075 (41,502) 72,203,903 77,991,978 (41,502) 1,599,602 (257) 63,849,043 65,448,645 (257) 197,663 (219,950) 1,373,200 1,570,863 (219,950) 59,982 11,406,202 (497) 11,466,184 (497) 156,477,670 (262,206)
(43,470,976)
(43,470,976) (23,394,923) (15,746,358) (327,611)
(4,489,615) 154,701
(23,394,923) (4,489,615) 154,701
(102,804)
4,245 2,194
(102,804) (1,432,946) 4,245 2,194
(560,056) 5,952
(1,432,946) (560,056) 5,952
(68,401,649) (20,791,784) (164,764)
(15,746,358) (327,611)
812,815 14,389,132 17,700 297,829 315,529 19,433 543,967 110,722 110,722 6,368,504 7,909,906
563,400 14,278,410 (66,114)
* For unit component, includes service tax, cost of any additional units granted to Policyholders for service lapses and freelook payouts (over and above the initial contribution)
169
financial Report
Policyholders Account (Technical Account) for the year ended March 31, 2010 (` 000)
Linked Life Particulars Sch Non-Unit (1) Premiums earned net (a) Premium (b) Reinsurance ceded Income from Investments (a) Interest, Dividend & Rent - Gross (b) Profit on sale/redemption of investments (c) Loss on sale/redemption of investments (d) Unrealised gain/(loss) (e) Appropriation/Expropriation Adjustment Account Other income: (a) Linked income (b) Fees & charges (c) Misc. income (d) Contribution from the Shareholders a/c Total (A) Commission Operating expenses related to insurance business* Provision for taxation (Fringe benefit tax) Total (B) Benefits paid (Net) Change in valuation of liability in respect of life policies Total (C) SURPLUS/ (DEFICIT) (D) =(A)-(B)-(C) APPROPRIATIONS Transfer to Shareholders a/c Balance being funds for future appropriations Total (D) 7,224,912 7,224,912 2,365,606 2,365,606 7,224,912 2,365,606 9,590,518 2,975,348 2,975,348 2,975,348 2,975,348 7,224,912 5,340,954 12,565,866 UL2 UL1 10,685,421 (10,685,421) 19,129 7,536 19,129 7,536 5,609,551 1,508 6,860 4,194,973 (5,609,551) 1,508 6,860 4,194,973 136,261,551 2,576,225 11,850,695 (5,549) 14,421,371 12,701,367 106,163,465 118,864,832 2,975,348 396,091 4 727 790,226 1,297,812 166,735 1,046,184 (336) 1,212,583 50,449 34,780 85,229 (396,091) 936,118 67,976 67,976 229 867,913 868,142 4 727 790,226 2,233,930 166,735 1,114,160 (336) 1,280,559 50,678 902,693 953,371 190,073 203 158,319 (190,073) 203 158,319 14,318,611 76 302,542 302,618 2,032,261 11,983,732 14,015,993 20,641 15,326 5,143,518 336,174,943 5,619,204 24,277,632 (29,223) 29,867,613 70,046,723 223,694,741 293,741,464 12,565,866 296,761 53,604 5,584,497 26,175,731 5,881,258 26,229,335 104,255 18,362 3,362,178 11,184,216 3,466,433 11,202,578 6,908 1,520 26,820 108,684 33,728 110,204 14,100 5,682 1,822,937 1,356,363 1,837,037 1,362,045 11,218,456 38,904,162 9,103,186 (51,367) 63,842,459 72,945,645 (51,367) 4,375,115 (229) 69,899,339 74,274,454 (229) 251,744 (149,408) 1,139,440 1,391,184 (149,408) 61,129 (374) 9,531,391 9,592,520 (374) 158,203,803 (201,378) Unit (2) Total (3)=(1) + (2) Non-Unit (4) Linked Pension Unit (5) Total (6)=(4) + (5) Non-Unit (7) Linked Health Unit (8) Total (9)= (7) + (8) Non-Unit (10) Linked Group Total Unit Linked Unit (11) Total (12)= (10) + (11) (13)=(3)+ (6)+(9)+(12)
(201)
(4,286,346) 82,944,216 (328,354)
(4,286,547) 82,944,216 (328,354)
(190)
(1,767,733) 44,847,685 35,212
(1,767,923) 44,847,685 35,212
(6,270) 61,989 1,546
(6,270) 61,989 1,546
(77)
(280,664) 1,628,240 21,362
(280,741) 1,628,240 21,362
(6,341,481) 129,482,130 (270,234)
20,114,069 163,246,782 2,876,168 9,677,407 (23,338) 12,530,237 696,384 1,332,828 1,332,828 54,566,033
183,360,851 14,310,205 121,951,346 2,876,168 2,576,225 854,206 854,206 12,647,459
429,055 13,889,556 76 308,650 308,726 24,131 (6,108) (6,108) 2,008,130
11,010,235 10,996,489 (23,338) (5,549)
13,863,065 13,567,165 55,262,417 104,644,851 159,907,268 9,590,518 53,908
(337,464) 104,982,315 358,920 159,548,348 7,224,912 2,365,606
689,132 105,474,333 743,040 118,121,792 2,975,348
96,198 11,887,534 120,329 13,895,664
* For unit component, includes service tax, cost of any additional units granted to Policyholders for service lapses and freelook payouts (over and above the initial contribution).
170

Schedule-UL1
Linked Income (recovered from linked funds)* for the year ended March 31, 2011 (` 000) Particulars Fund administration charges Fund management charge Policy administration charge Surrender charge Switching charge Mortality charge Rider premium charge Partial withdrawal charge Policy foreclose Miscellaneous charge Total (UL-1) * net of service tax, if any Life Linked Unit (1) 1,234,569 4,206,625 1,763,974 1,019,005 7,502 1,679,131 500,556 4,452,996 14,864,358 Pension Linked Unit (2) 290,484 3,439,112 4,476,458 943,625 5,077 95,536 15,627 2,923,701 12,189,620 Linked Health Unit (3) 19,855 66,689 19 516,353 324 603,240 Linked Group Unit (4) 278,843 434 155 279,432 Total (5)= (1)+(2)+(3)+(4) 1,525,053 7,944,435 6,307,121 1,963,064 12,598 2,291,175 516,183 7,377,021 27,936,650
Linked Income (recovered from linked funds)* for the year ended March 31, 2010 (` 000) Particulars Fund administration charges Fund management charge Policy administration charge Surrender charge Switching charge Mortality charge Rider premium charge Partial withdrawal charge Policy foreclose Miscellaneous charge Total (UL-1) * net of service tax, if any Life Linked Unit (1) 1,406,837 3,394,761 1,135,302 389,577 9,949 1,719,560 498,817 2,130,618 10,685,421 Pension Linked Unit (2) 200,897 2,102,947 1,995,843 278,859 4,670 93,657 16,884 915,794 5,609,551 Linked Health Unit (3) 8,735 49,235 18 338,103 396,091 Linked Group Unit (4) 187,094 2,979 190,073 Total (5)= (1)+(2)+(3)+(4) 1,607,734 5,693,537 3,180,380 671,415 14,637 2,151,320 515,701 3,046,412 16,881,136
171
financial Report
ScheduleUL2
BENEFITS PAID [NET] for the year ended March 31, 2011 (` 000)
Linked Life Sl. No. Particulars Non Unit (1) 1 (a) (b) (c) (d) Insurance claims Claims by death Claims by maturity Annuities/Pension payment Other benefits Surrender Survival Rider Health Sub Total (A) 2 (a) (b) (c) (d) Amount ceded in reinsurance Claims by death Claims by maturity Annuities/Pension payment Other benefits Surrender Survival Rider Health Sub Total (B) Total (A) + (B) Benefits paid to claimants: In India Total (UL2) 713,730 713,730 713,730 70,056,415 70,056,415 70,056,415 70,770,145 70,770,145 70,770,145 63,468 63,468 63,468 26,685,164 26,685,164 26,685,164 26,748,632 26,748,632 26,748,632 (102,484) (102,484) 84,860 187,344 187,344 1,376 1,376 1,376 (102,484) (102,484) 86,236 188,720 188,720 19,433 19,433 19,433 6,368,504 6,368,504 6,368,504 6,387,937 6,387,937 6,387,937 (102,484) (102,484) 103,992,950 104,095,434 104,095,434 72,045 713,730 69,501,301 70,056,415 69,501,301 72,045 70,770,145 10,488 63,468 25,944,126 26,685,164 25,944,126 10,488 26,748,632 186,852 187,344 1,376 186,852 188,720 19,433 6,041,825 6,368,504 6,041,825 6,387,937 101,487,252 82,533 186,852 104,095,434 622,999 18,686 342,102 213,012 965,101 231,698 52,980 703,423 37,615 756,403 37,615 492 1,376 1,868 19,433 326,679 346,112 2,069,484 269,313 Unit (2) Linked Life (3)=(1)+(2) Non-Unit (4) Linked Pension Unit (5) Linked Pension (6)=(4)+(5) Non-Unit (7) Linked Health Unit (8) Linked Health (9)=(7)+(8) Non-Unit (10) Linked Group Unit (11) Linked Group (12)=(10)+(11) Total Unit Linked (13)=(3)+(6)+(9)+(12)
BENEFITS PAID [NET] for the year ended March 31, 2010 (` 000)
Linked Life Sl. No. Particulars Non Unit (1) 1 (a) (b) (c) (d) Insurance claims Claims by death Claims by maturity Annuities/Pension payment Other benefits Surrender Survival Rider Health Sub Total (A) 2 (a) (b) (c) (d) Amount ceded in reinsurance Claims by death Claims by maturity Annuities/Pension payment Other benefits Surrender Survival Rider Health Sub Total (B) Total (A) + (B) Benefits paid to claimants: In India Total (UL2) (5,141) 696,384 701,525 701,525 54,566,033 54,566,033 54,566,033 (5,141) 55,262,417 55,267,558 55,267,558 53,908 53,908 53,908 12,647,459 12,647,459 12,647,459 12,701,367 12,701,367 12,701,367 (25,613) (25,613) 50,449 76,062 76,062 229 229 229 (25,613) (25,613) 50,678 76,291 76,291 600 24,131 23,531 23,531 2,008,130 2,008,130 2,008,130 600 2,032,261 2,031,661 2,031,661 (25,613) (30,154) 70,046,723 70,076,877 70,076,877 (5,141) (5,141) 600 600 (4,541) 103 78,863 701,525 54,566,033 53,884,305 53,884,408 78,863 55,267,558 8 7,803 53,908 12,062,214 12,647,459 12,062,222 7,803 12,701,367 622,559 681,728 1,304,287 46,097 585,245 631,342 10 645 75,407 76,062 229 229 645 75,407 76,291 83 23,531 2,008,130 1,984,465 1,984,548 2,031,661 67,931,178 87,311 75,407 70,076,877 239 23,448 23,665 47,113 1,982,981 Unit (2) Linked Life (3)=(1)+(2) Non-Unit (4) Linked Pension Unit (5) Linked Pension (6)=(4)+(5) Non-Unit (7) Linked Health Unit (8) Linked Health (9)=(7)+(8) Non-Unit (10) Linked Group Unit (11) Linked Group (12)=(10)+(11) Total Unit Linked (13)=(3)+(6)+(9)+(12)
172

2. Performance of fund (absolute growth %) for the year ended March 31, 2011
Fund name Anmol Nivesh Fund Balancer Fund Balancer Fund II Balancer Fund III Balancer Fund IV Bluechip Fund Cash Plus Fund Discontinued Fund - Life Dynamic P/E Fund Flexi Balanced Fund Flexi Balanced Fund II Flexi Balanced Fund III Flexi Balanced Fund IV Flexi Growth Fund Flexi Growth Fund II Flexi Growth Fund III Flexi Growth Fund IV Group Balanced Fund Group Capital Guarantee Balanced Fund Group Capital Guarantee Balanced Fund II Group Capital Guarantee Debt Fund Group Capital Guarantee Debt Fund II Group Capital Guarantee Growth Fund Group Capital Guarantee Growth Fund II Group Capital Guarantee Short Term Debt Fund Group Capital Guarantee Short Term Debt Fund II Group Debt Fund Group Growth Fund Group Leave Encashment Balance Fund Group Leave Encashment Income Fund Group Leave Encashment Short Term Fund Group Return Guarantee Fund Group Return Guarantee Fund - A4 Group Return Guarantee Fund - S5* Group Return Guarantee Fund - S6* Group Return Guarantee Fund II Group Return Guarantee Fund III Group Short Term Debt fund Group Superannuation Corporate Bond Fund Health Balancer Fund Health Flexi Balanced Fund Health Flexi Growth Fund Health Multiplier Fund Health Preserver Fund Health Protector Fund Health Return Guarantee Fund Health Return Guarantee Fund II Health Return Guarantee Fund III Health Return Guarantee Fund IV Health Return Guarantee Fund V Health Return Guarantee Fund VI Health Return Guarantee Fund VII Health Return Guarantee Fund IX (5 Yrs) Highest NAV Fund B Income Fund Invest Shield Cash Fund Invest Shield Fund - Life Invest Shield Fund - Pension Maximiser Fund Maximiser Fund II Maximiser Fund III Maximiser Fund IV Money Market Fund Multi Cap Balanced Fund Multi Cap Growth Fund Multiplier Fund Multiplier Fund II Multiplier Fund III Multiplier Fund IV New Invest Shield Balanced Fund Opportunities Fund Pension Balancer Fund Pension Balancer Fund II Pension Bluechip Fund Pension Dynamic P/E Fund Pension Flexi Balanced Fund Pension Flexi Balanced Fund II Pension Flexi Growth Fund Pension Flexi Growth Fund II Pension Income Fund Pension Maximiser Fund Pension Maximiser Fund II Pension Money Market Fund Pension Multi Cap Balanced Fund Pension Multi Cap Growth Fund Pension Multiplier Fund Pension Multiplier Fund II Pension Opportunities Fund Pension Preserver Fund Financial year of inception 2010 2002 2005 2006 2008 2010 2004 2011 2010 2007 2007 2007 2008 2007 2007 2007 2008 2004 2006 2007 2006 2007 2007 2008 2004 2007 2004 2004 2009 2009 2009 2009 2011 2011 2011 2009 2010 2004 2011 2009 2009 2009 2009 2009 2009 2009 2009 2009 2009 2010 2010 2010 2011 2011 2010 2005 2005 2005 2002 2005 2006 2008 2010 2010 2010 2008 2008 2008 2008 2007 2010 2003 2005 2010 2010 2007 2007 2007 2007 2010 2003 2005 2010 2010 2010 2008 2008 2010 2005 Growth over previous year Fiscal 2011 6.77 6.52 7.90 6.49 7.87 7.37 5.07 NA 13.01 4.68 6.09 4.64 6.08 8.07 8.88 7.95 9.01 6.73 5.89 6.38 6.27 6.50 7.12 7.94 6.29 6.01 6.08 9.65 7.35 6.47 6.29 4.14 NA NA NA 5.14 3.40 6.23 NA 6.79 8.27 6.70 6.70 7.06 7.82 7.47 4.78 4.52 4.84 4.95 3.98 4.10 NA NA 6.60 5.06 5.36 5.68 10.92 11.87 10.97 11.94 6.73 7.02 13.58 9.26 10.21 9.16 10.15 5.84 9.63 4.06 5.54 4.59 11.38 5.25 6.71 10.07 10.95 5.63 9.93 10.86 6.83 5.33 12.61 5.28 6.12 8.25 6.78 Fiscal 2010 NA 32.43 34.17 32.43 34.38 NA 8.65 NA NA 39.44 41.30 38.92 40.88 70.53 71.87 70.46 71.83 20.39 17.51 17.13 18.22 9.14 35.05 35.61 6.83 6.49 9.29 50.60 19.85 (8.31) (8.33) 10.35 NA NA NA 8.24 NA 6.80 NA 30.99 45.07 82.71 86.91 6.81 9.80 10.70 10.68 10.59 10.39 NA NA NA NA NA NA 8.66 23.19 24.69 76.25 77.69 76.20 77.65 NA NA NA 68.01 69.34 67.83 69.40 27.84 NA 26.43 28.11 NA NA 37.04 38.82 73.49 74.91 NA 78.57 80.05 NA NA NA 66.03 67.24 NA 6.82 Fiscal 2009 NA (8.73) (7.43) (8.65) (7.44) NA 10.42 NA NA (17.01) (15.47) (16.65) (15.83) (34.18) (33.88) (34.18) (33.73) 2.11 1.18 1.68 17.73 18.01 (11.02) (10.56) 9.49 9.13 12.27 (15.94) NA NA NA NA NA NA NA NA NA 8.44 NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA 10.45 (3.46) (3.84) (33.88) (33.27) (33.86) (33.36) NA NA NA (31.25) (30.57) (30.96) (30.56) (7.90) NA (6.68) (5.34) NA NA (17.61) (16.53) (36.06) (35.54) NA (34.99) (34.41) NA NA NA (32.58) (31.57) NA 10.59 In percentage (%) 11.64 248.00 136.40 60.90 42.50 9.30 61.52 0.25 16.40 41.00 49.90 39.70 32.70 52.60 57.00 52.00 34.30 130.00 59.90 43.30 75.49 51.17 51.90 41.40 59.42 36.01 74.70 228.30 32.90 9.24 6.60 18.09 0.44 13.80 10.39 65.07 0.50 43.10 62.40 108.60 110.20 16.61 21.69 21.67 18.93 17.23 15.73 11.87 10.35 6.23 1.29 4.40 8.67 54.42 88.60 91.60 607.90 294.80 79.10 40.60 8.06 8.20 14.60 5.00 18.70 15.60 18.30 59.40 12.70 212.60 132.30 4.90 14.50 46.40 51.10 52.00 57.00 6.95 601.80 307.20 7.61 4.80 11.60 9.60 12.70 8.90 62.21 Growth since inception
173
financial Report
Fund name Pension Protector Fund Pension Protector Fund II Pension Return Guarantee Fund Pension Return Guarantee Fund II Pension Return Guarantee Fund III Pension Return Guarantee Fund IV Pension Return Guarantee Fund V Pension Return Guarantee Fund VI Pension Return Guarantee Fund VII Pension Return Guarantee Fund VIII Pension Return Guarantee Fund IX (10 Yrs) Pension Return Guarantee Fund X (10 Yrs) Pension RICH Fund Pension RICH Fund II Pinnacle Fund Pinnacle Fund II Preserver Fund Preserver Fund III Preserver Fund IV Protector Fund Protector Fund II Protector Fund III Protector Fund IV Return Guarantee Fund Return Guarantee Fund II Return Guarantee Fund III Return Guarantee Fund IV Return Guarantee Fund V Return Guarantee Fund VI Return Guarantee Fund VII Return Guarantee Fund VIII (10 Yrs) Return Guarantee Fund VIII (5 Yrs) Return Guarantee Fund IX (5 Yrs) Return Guarantee Fund IX (10 Yrs) Return Guarantee Fund X (10 Yrs) Return Guarantee Fund X (5 Yrs) Return Guarantee Fund XI (5 Yrs) RICH Fund RICH Fund II RICH Fund III RICH Fund IV Secure Plus Fund Secure Plus Pension Fund Secure Save Builder Fund Secure Save Guarantee Fund
Financial year of inception 2003 2005 2009 2009 2009 2009 2010 2010 2010 2011 2011 2011 2008 2008 2010 2011 2005 2006 2008 2002 2005 2006 2008 2009 2009 2009 2009 2010 2010 2010 2011 2011 2011 2011 2011 2011 2011 2008 2008 2008 2008 2004 2004 2010 2010
Growth over previous year Fiscal 2011 4.81 5.70 4.15 4.12 4.32 4.68 3.61 4.02 4.15 NA NA NA 8.71 9.59 9.61 NA 6.84 6.24 6.77 4.63 5.54 4.64 5.48 4.50 4.50 4.33 4.49 3.49 3.98 4.14 NA NA NA NA NA NA NA 9.08 10.01 9.07 10.02 4.48 4.23 8.09 6.19 Fiscal 2010 7.56 8.45 11.03 10.67 10.44 9.58 NA NA NA NA NA NA 71.47 72.86 NA NA 7.39 7.30 7.28 8.22 9.19 8.16 8.99 10.84 10.70 10.42 9.77 NA NA NA NA NA NA NA NA NA NA 69.81 71.15 69.63 71.24 8.50 8.35 NA NA Fiscal 2009 9.79 10.94 NA NA NA NA NA NA NA NA NA NA (29.04) (28.63) NA NA 10.37 10.20 10.29 9.77 10.82 9.79 10.59 NA NA NA NA NA NA NA NA NA NA NA NA NA NA (28.79) (28.19) (28.73) (28.29) 10.24 10.78 NA NA In percentage (%)
Growth since inception
81.57 55.54 22.37 18.48 16.83 14.71 10.48 10.13 6.33 3.27 2.25 2.26 38.50 41.70 16.30 (3.70) 63.70 46.99 32.11 102.74 56.20 43.05 34.08 22.48 18.89 16.86 14.70 10.44 10.24 6.48 3.26 1.18 1.32 2.35 2.46 1.46 0.51 39.30 42.90 39.50 42.80 58.70 55.58 20.30 14.90
Note: * Inflows commenced on March 31, 2011 NA denotes schemes not in existence during the relevant year/funds launched during the year. In these cases, the growth percentage has been computed since fund inception date
Performance of fund (absolute growth %) for the year ended March 31, 2010
Growth over previous year Fund name Financial year of inception 2010 2002 2005 2006 2008 2010 2004 2010 2007 2007 2007 2008 2007 2007 2007 2008 2004 2006 2007 2006 2007 2007 2008 2004 2007 2004 2004 2009 2009 2009 Fiscal 2010 Fiscal 2009 Fiscal 2008 Growth since inception
In percentage (%) Anmol Nivesh Fund Balancer Fund Balancer Fund II Balancer Fund III Balancer Fund IV Bluechip Fund Cash Plus Fund Dynamic P/E Fund Flexi Balanced Fund Flexi Balanced Fund II Flexi Balanced Fund III Flexi Balanced Fund IV Flexi Growth Fund Flexi Growth Fund II Flexi Growth Fund III Flexi Growth Fund IV Group Balanced Fund Group Capital Guarantee Balanced Fund Group Capital Guarantee Balanced Fund II Group Capital Guarantee Debt Fund Group Capital Guarantee Debt Fund II Group Capital Guarantee Growth Fund Group Capital Guarantee Growth Fund II Group Capital Guarantee Short Term Debt Fund Group Capital Guarantee Short Term Debt Fund II Group Debt Fund Group Growth Fund Group Leave Encashment Balance Fund Group Leave Encashment Income Fund Group Leave Encashment Short Term Fund NA 32.43 34.17 32.43 34.38 NA 8.65 NA 39.44 41.30 38.92 40.88 70.53 71.87 70.46 71.83 20.39 17.51 17.13 18.22 9.14 35.05 35.61 6.83 6.49 9.29 50.60 19.85 (8.31) (8.33) NA (8.73) (7.43) (8.65) (7.44) NA 10.42 NA (17.01) (15.47) (16.65) (15.83) (34.18) (33.88) (34.18) (33.73) 2.11 1.18 1.68 17.73 18.01 (11.02) (10.56) 9.49 9.13 12.27 (15.94) NA NA NA NA 16.41 17.76 15.86 NA NA 9.42 NA 15.25 16.90 14.38 NA 24.43 25.27 24.01 NA 14.05 11.40 11.98 9.62 9.84 14.67 NA 10.10 9.88 9.45 21.03 NA NA NA 4.55 226.70 119.10 51.10 32.10 1.80 53.73 3.00 34.70 41.30 33.50 25.10 41.20 44.20 40.80 23.20 115.50 51.00 34.70 65.13 41.94 41.80 31.00 49.98 28.27 64.68 199.40 23.80 2.60 0.29
174

Growth over previous year Fund name Financial year of inception 2009 2009 2010 2004 2009 2009 2009 2009 2009 2009 2009 2009 2009 2009 2010 2010 2010 2010 2005 2005 2005 2002 2005 2006 2008 2010 2010 2010 2008 2008 2008 2008 2007 2010 2003 2005 2010 2010 2007 2007 2007 2007 2010 2003 2005 2010 2010 2010 2008 2008 2010 2005 2003 2005 2009 2009 2009 2009 2010 2010 2010 2008 2008 2010 2005 2006 2008 2002 2005 2006 2008 2009 2009 2009 2009 2010 2010 2010 2008 2008 2008 2008 2004 2004 2010 2010 Fiscal 2010 Fiscal 2009 Fiscal 2008 Growth since inception In percentage (%) Group Return Guarantee Fund Group Return Guarantee Fund II Group Return Guarantee Fund III Group Short Term Debt fund Health Balancer Fund Health Flexi Balanced Fund Health Flexi Growth Fund Health Multiplier Fund Health Preserver Fund Health Protector Fund Health Return Guarantee Fund Health Return Guarantee Fund II Health Return Guarantee Fund III Health Return Guarantee Fund IV Health Return Guarantee Fund V Health Return Guarantee Fund VI Health Return Guarantee Fund VII Income Fund Invest Shield Cash Fund Invest Shield Fund - Life Invest Shield Fund - Pension Maximiser Fund Maximiser Fund II Maximiser Fund III Maximiser Fund IV Money Market Fund Multi Cap Balanced Fund Multi Cap Growth Fund Multiplier Fund Multiplier Fund II Multiplier Fund III Multiplier Fund IV New Invest Shield Balanced Fund Opportunities Fund Pension Balancer Fund Pension Balancer Fund II Pension Bluechip Fund Pension Dynamic P/E Fund Pension Flexi Balanced Fund Pension Flexi Balanced Fund II Pension Flexi Growth Fund Pension Flexi Growth Fund II Pension Income Fund Pension Maximiser Fund Pension Maximiser Fund II Pension Money Market Fund Pension Multi Cap Balanced Fund Pension Multi Cap Growth Fund Pension Multiplier Fund Pension Multiplier Fund II Pension Opportunities Fund Pension Preserver Fund Pension Protector Fund Pension Protector Fund II Pension Return Guarantee Fund Pension Return Guarantee Fund II Pension Return Guarantee Fund III Pension Return Guarantee Fund IV Pension Return Guarantee Fund V Pension Return Guarantee Fund VI Pension Return Guarantee Fund VII Pension RICH Fund Pension RICH Fund II Pinnacle Fund Preserver Fund Preserver Fund III Preserver Fund IV Protector Fund Protector Fund II Protector Fund III Protector Fund IV Return Guarantee Fund Return Guarantee Fund II Return Guarantee Fund III Return Guarantee Fund IV Return Guarantee Fund V Return Guarantee Fund VI Return Guarantee Fund VII RICH Fund RICH Fund II RICH Fund III RICH Fund IV Secure Plus Fund Secure Plus Pension Fund Secure Save Builder Fund Secure Save Guarantee Fund 10.35 8.24 NA 6.80 30.99 45.07 82.71 86.91 6.81 9.80 10.70 10.68 10.59 10.39 NA NA NA NA 8.66 23.19 24.69 76.25 77.69 76.20 77.65 NA NA NA 68.01 69.34 67.83 69.40 27.84 NA 26.43 28.11 NA NA 37.04 38.82 73.49 74.91 NA 78.57 80.05 NA NA NA 66.03 67.24 NA 6.82 7.56 8.45 11.03 10.67 10.44 9.58 NA NA NA 71.47 72.86 NA 7.39 7.30 7.28 8.22 9.19 8.16 8.99 10.84 10.70 10.42 9.77 NA NA NA 69.81 71.15 69.63 71.24 8.50 8.35 NA NA NA NA NA 8.44 NA NA NA NA NA NA NA NA NA NA NA NA NA NA 10.45 (3.46) (3.84) (33.88) (33.27) (33.86) (33.36) NA NA NA (31.25) (30.57) (30.96) (30.56) (7.90) NA (6.68) (5.34) NA NA (17.61) (16.53) (36.06) (35.54) NA (34.99) (34.41) NA NA NA (32.58) (31.57) NA 10.59 9.79 10.94 NA NA NA NA NA NA NA (29.04) (28.63) NA 10.37 10.20 10.29 9.77 10.82 9.79 10.59 NA NA NA NA NA NA NA (28.79) (28.19) (28.73) (28.29) 10.24 10.78 NA NA NA NA NA 9.58 NA NA NA NA NA NA NA NA NA NA NA NA NA NA 9.41 14.19 14.37 24.77 25.68 24.44 NA NA NA NA NA NA NA NA 16.70 NA 16.15 17.63 NA NA 19.96 20.63 21.82 24.38 NA 24.30 25.40 NA NA NA NA NA NA 9.28 9.23 9.84 NA NA NA NA NA NA NA NA NA NA 9.27 9.18 NA 9.04 9.87 9.08 NA NA NA NA NA NA NA NA NA NA NA NA 9.48 9.51 NA NA 13.39 8.24 6.76 55.39 34.00 50.00 95.50 97.00 8.92 12.86 13.22 13.51 12.17 10.39 6.59 6.13 2.05 1.94 46.99 79.00 81.30 538.20 252.90 61.40 25.60 1.25 1.10 0.90 (3.90) 7.70 5.90 7.40 50.60 2.80 200.40 120.10 0.30 2.80 39.10 41.60 38.10 41.50 1.25 538.40 267.30 0.73 (0.50) (0.90) 4.10 6.20 0.60 51.92 73.24 47.15 17.50 13.79 12.00 9.58 6.63 5.87 2.10 27.40 29.30 6.10 53.21 38.37 23.73 93.76 47.99 36.71 27.12 17.21 13.77 12.01 9.77 6.72 6.01 2.24 27.70 29.90 27.90 29.80 51.90 49.27 11.30 8.20
Note: NA denotes schemes not in existence during the relevant year and funds launched during the year. In these cases, the growth percentage has been computed only since fund inception date.
175
financial Report
3.
Investment Management activities outsourced

Activities outsourced For the financial year ended March 31, 2011 Nil For the financial year ended March 31, 2010 Nil Not applicable Not applicable Basis of payment of fees Payments made
4.
Related party transactions I. Brokerage, custodial fee or any other payments and receipts made to/from related parties (as defined in AS 18 issued by ICAI) (a) Brokerage payments made to ICICI Securities Limited for the year ended March 31, 2011
(` 000)
Fund name Balancer Fund Bluechip Fund Dynamic P/E Fund Flexi Balanced Fund Flexi Growth Fund Group Balanced Fund Group Capital Guarantee Balanced Fund Group Capital Guarantee Growth Fund Group Growth Fund Group Leave Encashment Balance Fund Health Balancer Fund Health Flexi Balanced Fund Health Flexi Growth Fund Health Multiplier Fund Invest Shield Fund Life Invest Shield Fund Pension Maximiser Fund Multi Cap Balanced Fund Multi Cap Growth Fund Multiplier Fund New Invest Shield Balanced Fund Opportunities Fund Pension Balancer Fund Pension Bluechip Fund Pension Dynamic P/E Fund Pension Flexi Balanced Fund Pension Flexi Growth Fund Pension Maximiser Fund Pension Multi Cap Balanced Fund Pension Multi Cap Growth Fund Pension Multiplier Fund Pension Opportunities Fund Pension RICH Fund RICH Fund Secure Save Builder Fund Secure Save Guarantee Fund Total Brokerage 294 110 4 103 1,620 224 47 1 115 13 4 1 42 18 37 17 3,660 36 595 823 61 124 772 113 43 94 671 1,360 42 160 730 370 1,202 1,699 1 3 15,209 Deal value 265,859 81,939 4,788 112,694 1,331,883 156,309 32,736 1,050 81,089 8,736 3,532 1,253 43,728 17,276 24,796 13,606 3,589,216 26,976 401,036 763,481 43,563 84,021 635,850 103,629 57,904 120,138 906,155 1,165,239 45,050 107,869 711,692 316,807 1,442,293 1,600,149 997 2,002 14,305,341
Brokerage payments made to ICICI Securities Limited for the year ended March 31, 2010
(` 000)
Fund name Balancer Fund Bluechip Fund Dynamic P/E Fund Flexi Balanced Fund Flexi Growth Fund Group Balanced Fund Group Capital Guarantee Balanced Fund Group Capital Guarantee Growth Fund Group Growth Fund Group Leave Encashment Balance Fund Health Balancer Fund Health Flexi Balanced Fund Health Flexi Growth Fund Health Multiplier Fund Invest Shield Fund Life Invest Shield Fund Pension Maximiser Fund Multi Cap Balanced Fund Multi Cap Growth Fund Multiplier Fund New Invest Shield Balanced Fund Opportunities Fund Pension Balancer Fund Pension Dynamic P/E Fund Pension Flexi Balanced Fund Brokerage 609 1 1 489 2,118 167 31 10 131 13 17 20 406 82 252 69 4,309 2 44 241 355 2 1,114 18 575 Deal Value 453,007 682 892 342,922 1,424,283 111,559 20,681 6,638 87,931 9,061 11,713 14,385 302,682 58,726 176,381 50,249 3,396,483 995 29,280 161,380 253,841 1,230 767,888 11,913 400,506
176

Fund name Pension Flexi Growth Fund Pension Maximiser Fund Pension Multiplier Fund Pension RICH Fund Pinnacle Fund RICH Fund Total Brokerage 1,231 1,341 77 791 457 664 15,638 Deal Value 862,629 985,119 51,788 532,342 306,394 445,572 11,279,152
(b) Purchase of investments for the year ended March 31, 2011
(` 000)
Fund name Anmol Nivesh Fund Balancer Fund Cash Plus Fund Dynamic P/E Fund Flexi Balanced Fund Flexi Growth Fund Group Balanced Fund Group Capital Guarantee Balanced Fund Group Capital Guarantee Debt Fund Group Capital Guarantee Growth Fund Group Capital Guarantee Short Term Debt Fund II Group Debt Fund Group Growth Fund Group Leave Encashment Balance Fund Group Leave Encashment Income Fund Group Leave Encashment Short Term Fund Group Short Term Debt fund Group Superannuation Corporate Bond Fund Health Balancer Fund Health Flexi Balanced Fund Health Preserver Fund Health Protector Fund Health Return Guarantee Fund Health Return Guarantee Fund IX (5 Yrs) Income Fund Invest Shield Fund - Life Invest Shield Fund - Pension Maximiser Fund Money Market Fund Multi Cap Balanced Fund New Invest Shield Balanced Fund Pension Balancer Fund Pension Dynamic P/E Fund Pension Flexi Balanced Fund Pension Flexi Growth Fund Pension Income Fund Pension Maximiser Fund Pension Money Market Fund Pension Multi Cap Balanced Fund Pension Preserver Fund Pension Protector Fund Pension Return Guarantee Fund III Pension Return Guarantee Fund V Pension Return Guarantee Fund VII Pension Return Guarantee Fund VIII Pension Return Guarantee Fund IX (10 Yrs) Pension Return Guarantee Fund X (10 Yrs) Pension RICH Fund Pinnacle Fund Preserver Fund Protector Fund Return Guarantee Fund Return Guarantee Fund VIII (10 Yrs) Return Guarantee Fund VIII (5 Yrs) Return Guarantee Fund IX (5 Yrs) Return Guarantee Fund IX (10 Yrs) Return Guarantee Fund X (10 Yrs) Return Guarantee Fund X (5 Yrs) RICH Fund Secure Plus Fund Secure Plus Pension Fund Secure Save Builder Fund Secure Save Guarantee Fund Total ICICI Bank Limited 34 706,520 355,919 151,215 667,868 168,467 38,816 5,247 127,127 1,086,153 197,418 36,077 5,564 224 163,146 1,976 2,246 481 27,317 81,700 95,947 15,509 8,337 6,016 141,523 596,592 98,867 117,079 14,318 39,220 88,690 1,050,746 36,593 3,049 103,212 35,565 785,590 5,082 60,988 17,944 9,593 338 2,472 7,156,785 ICICI Lombard General Insurance Company Limited 26,188 84,520 626 130,071 344 2 115,023 11,186 4,237 4,169 148,494 8,869 9,148 11,701 14,116 87,653 656,347 ICICI Securities Primary Dealership Limited 22 915,876 201,004 29,803 346,453 649,769 93,585 3,525 209 178,063 230,763 13,583 10,446 415 236 544,996 84,804 778 457 943 171,916 36,026 9,936 51,327 2,143 819,725 60,581 1,140 83,814 220,070 30,330 492,986 103,411 78,850 11,767 366,321 581,553 5,805 318,187 531,686 10,009 10,009 16,153 989,867 3,016 1,293 28 249 8,313,928 Total 57 1,622,396 556,923 181,018 346,453 1,343,825 262,052 42,341 5,456 389,710 1,316,916 211,001 46,523 5,979 1,086 838,213 84,804 2,754 2,703 1,768 199,233 36,026 2 91,636 147,274 17,652 819,725 68,918 7,156 225,337 816,662 129,197 492,986 220,490 93,168 50,987 570,034 1,632,299 36,593 3,049 11,186 5,805 4,237 4,169 103,212 502,246 1,317,276 5,082 10,009 79,866 9,148 11,701 14,116 103,806 989,867 20,960 10,886 366 2,721 16,127,060
177
financial Report
Purchase of investments for the year ended March 31, 2010

Fund name Balancer Fund Cash Plus Fund Flexi Balanced Fund Group Balanced Fund Group Capital Guarantee Balanced Fund Group Capital Guarantee Debt Fund Group Capital Guarantee Growth Fund Group Capital Guarantee Short Term Debt Fund Group Debt Fund Group Growth Fund Group Leave Encashment Balance Fund Group Leave Encashment Income Fund Group Leave Encashment Short Term Fund Group Return Guarantee Fund Group Return Guarantee Fund II Group Return Guarantee Fund III Group Short Term Debt Fund Health Balancer Fund Health Flexi Balanced Fund Health Preserver Fund Health Protector Fund Health Return Guarantee Fund II Health Return Guarantee Fund III Health Return Guarantee Fund IV Health Return Guarantee Fund V Income Fund Invest Shield Fund - Life Invest Shield Fund - Pension Maximiser Fund Multi Cap Balanced Fund New Invest Shield Balanced Fund Pension Balancer Fund Pension Flexi Balanced Fund Pension Income Fund Pension Multi Cap Balanced Fund Pension Preserver Fund Pension Protector Fund Pension Return Guarantee Fund Pension Return Guarantee Fund II Pension Return Guarantee Fund III Pension Return Guarantee Fund IV Pension Return Guarantee Fund V Pension RICH Fund Preserver Fund Protector Fund Return Guarantee Fund Return Guarantee Fund II Return Guarantee Fund III Return Guarantee Fund IV Return Guarantee Fund V Secure Plus Fund Secure Plus Pension Fund Secure Save Builder Fund Secure Save Guarantee Fund Total ICICI Bank Limited 1,351,063 316,738 124,165 785,609 146,255 29,358 2,282 28,103 328,897 200,439 29,380 2,609 309 45 172,764 1,749 1,110 89 10,839 1,867 2,093 147 9,388 113,968 23,184 1,437,408 867 133,355 907,510 97,063 72,958 11,162 102,634 1,158,900 63,924 3,526 470,000 147,213 1,045,052 24,891 20,320 1,293 31,460 12,653 261 2,450 9,427,350 ICICI Home Finance Company Limited 105,772 25,902 5,299 35,894 3,992 280 29,523 7,630 1,941 600 121,000 8,800 22 14 166 5,600 1,200 6,403 1,270 7,334 46,693 3,659 64,656 157,400 23,400 61,600 21,000 2,039 911 750,000 ICICI Lombard General Insurance Company Limited 40,472 12,183 2,769 19,369 37,267 11,553 69 13,115 5,070 932 1,332 21,321 6,154 36,047 478 289 3,663 2,088 4,616 2,528 966 2,903 579 23 3,450 21,453 2,503 33,638 33,190 61,874 63,193 38,245 38,643 37,036 23,409 28,244 26,706 830 352 89 856 639,497 ICICI Securities Primary Dealership Limited 755,408 248,511 42,450 279,382 48,412 161,085 1,680 193,905 77,090 14,340 934 50,920 8,599 30,552 528 291 3,801 1,764 153 48,856 9,746 489,155 2 56,971 354,134 33,458 552,772 50,920 32,432 694,800 20,368 11,837 13,873 6,004 112 1,249 4,296,494
(` 000)
Total 2,252,715 603,334 174,683 1,120,254 235,926 201,996 4,311 28,103 565,440 290,229 46,593 5,475 309 193,241 23,598 66,599 172,764 2,777 1,704 89 18,469 2,088 12,083 7,585 147 10,507 172,130 34,779 1,926,563 892 201,110 1,329,790 136,683 72,958 11,162 102,634 1,809,966 84,110 61,874 220,593 158,001 3,526 470,000 147,213 1,778,495 37,036 43,777 114,735 79,863 1,293 48,202 19,920 462 4,555 15,113,341
(c) Sale/redemption of investments for the year ended March 31, 2011
Fund name Anmol Nivesh Fund Balancer Fund Cash Plus Fund Dynamic P/E Fund Flexi Balanced Fund Group Balanced Fund Group Capital Guarantee Balanced Fund Group Capital Guarantee Debt Fund Group Capital Guarantee Growth Fund Group Capital Guarantee Short Term Debt Fund II Group Debt Fund Group Growth Fund Group Leave Encashment Balance Fund Group Leave Encashment Income Fund Group Leave Encashment Short Term Fund Group Short Term Debt fund Health Balancer Fund Health Flexi Balanced Fund Health Preserver Fund Health Protector Fund Income Fund Invest Shield Fund - Life Invest Shield Fund - Pension Maximiser Fund Money Market Fund Multi Cap Balanced Fund ICICI Bank Limited 26 31,573 18,443 318,250 3,847 53,556 3,992 983 117 186,539 19,622 7,625 4,129 109 238 333,412 268 77 323 826 4,178 4,202 843 10,949 704 ICICI Lombard General Insurance Company Limited 28,398 10,151 2,180 18,147 3,154 733 65 11,801 4,198 790 92 50 31 407 423 2,356 470 83,396 41 ICICI Securities Primary Dealership Limited 511,690 54,595 9,071 73,476 13,572 3,813 259 532,617 17,306 3,158 392 70,159 183 110 151 26,813 2,529 9,879 1,975 10,470 213
(` 000)
Total 26 571,661 83,189 318,250 15,098 145,179 20,718 5,529 441 186,539 564,040 29,129 8,077 593 238 403,571 501 218 474 28,046 7,130 16,437 3,288 83,396 21,419 958
178

Fund name New Invest Shield Balanced Fund Pension Balancer Fund Pension Dynamic P/E Fund Pension Flexi Balanced Fund Pension Flexi Growth Fund Pension Income Fund Pension Money Market Fund Pension Multi Cap Balanced Fund Pension Preserver Fund Pension Protector Fund Pinnacle Fund Preserver Fund Protector Fund Secure Plus Fund Secure Plus Pension Fund Secure Save Builder Fund Secure Save Guarantee Fund Total ICICI Bank Limited 4,099 20,166 179,016 4,152 9,202 16,517 8,338 238,000 99,102 8,265 106,320 41,807 1,173 416 20 942 1,742,366 ICICI Lombard General Insurance Company Limited 2,772 16,686 2,083 3,478 524 28,334 28,413 665 289 6 57 250,190 ICICI Securities Primary Dealership Limited 11,612 456,825 67,451 8,319 33,930 16,625 17,362 1,682 57,103 147,057 60,826 157,780 3,603 1,553 25 251 2,384,435 Total 18,483 493,677 246,467 14,554 33,930 29,305 33,879 10,544 295,103 274,493 8,265 167,146 228,000 5,441 2,258 51 1,250 4,376,991
Sale/redemption of investments for the year ended March 31, 2010

Fund name Balancer Fund Cash Plus Fund Flexi Balanced Fund Group Balanced Fund Group Capital Guarantee Balanced Fund Group Capital Guarantee Debt Fund Group Capital Guarantee Growth Fund Group Debt Fund Group Growth Fund Group Leave Encashment Balance Fund Group Leave Encashment Income Fund Group Return Guarantee Fund Health Balancer Fund Health Flexi Balanced Fund Health Protector Fund Health Return Guarantee Fund Health Return Guarantee Fund II Invest Shield Fund - Life Invest Shield Fund - Pension New Invest Shield Balanced Fund Pension Balancer Fund Pension Flexi Balanced Fund Pension Protector Fund Pension Return Guarantee Fund II Pension RICH Fund Protector Fund Return Guarantee Fund II RICH Fund Secure Plus Fund Secure Plus Pension Fund Secure Save Builder Fund Secure Save Guarantee Fund Total ICICI Bank Limited 139,095 19,116 4,964 37,340 3,629 268 19,541 8,114 1,680 4 11 8 92 5,798 1,149 6,613 56,800 3,501 73,566 133,497 1,558 686 517,030 ICICI Lombard General Insurance Company Limited 23,418 6,359 1,316 8,167 1,732 114 43 6,464 2,414 453 69,080 12 7 85 691 1,437 1,534 305 1,783 10,959 1,001 138,323 56,824 78,130 20,613 470 205 3 35 431,977 ICICI Securities Primary Dealership Limited 100,470 58,690 2,465 16,500 2,377 8,035 121 114,683 3,794 834 10 15 9 113 2,847 566 3,286 21,029 1,798 186,543 300,374 44,812 200,249 877 387 2 18 1,070,904
(` 000)
Total 262,983 84,165 8,745 62,007 7,738 8,149 432 140,688 14,322 2,967 14 69,080 38 24 290 691 1,437 10,179 2,020 11,682 88,788 6,300 398,432 56,824 300,374 256,439 20,613 200,249 2,905 1,278 5 53 2,019,911
(d) Placement of fixed deposits with ICICI Bank during the financial year
Particulars Nil Fiscal 2011 Nil
(` 000)
Fiscal 2010 Nil
(e) Redemption of fixed deposits from ICICI Bank during the financial year
Fund name Anmol Nivesh Fund Balancer Fund Cash Plus Fund Flexi Balanced Fund Flexi Growth Fund Group Capital Guarantee Balanced Fund Group Capital Guarantee Debt Fund Group Capital Guarantee Growth Fund Group Capital Guarantee Short Term Debt Fund Group Debt Fund Group Leave Encashment Balance Fund Group Leave Encashment Income Fund Group Leave Encashment Short Term Fund Group Short Term Debt Fund Health Balancer Fund Health Flexi Balanced Fund Health Flexi Growth Fund Health Preserver Fund Fiscal 2011
(` 000)
Fiscal 2010 12 414,262 103,549 10,494 365,475 19,689 7,000 296 121,674 60,000 14,298 440 9 179,781 1,372 841 4,000 42
179
financial Report
Fund name Health Protector Fund Invest Shield Fund - Life Invest Shield Fund - Pension Maximiser Fund New Invest Shield Balanced Fund Pension Balancer Fund Pension Flexi Balanced Fund Pension Flexi Growth Fund Pension Maximiser Fund Pension Preserver Fund Pension Protector Fund Pension RICH Fund Preserver Fund Protector Fund RICH Fund Secure Plus Fund Total
Fiscal 2011
Fiscal 2010 150 7,652 1,378 20,661 21,253 13,535 2,232 40,765 86,338 42,113 456,662 4,027 2,000,000
(f)
Repo transactions during the year ended March 31, 2011

Fund name Anmol Nivesh Fund Balancer Fund Cash Plus Fund Flexi Balanced Fund Flexi Growth Fund Group Balanced Fund Group Capital Guarantee Balanced Fund Group Capital Guarantee Debt Fund Group Capital Guarantee Growth Fund Group Debt Fund Group Growth Fund Group Leave Encashment Balance Fund Group Leave Encashment Income Fund Group Leave Encashment Short Term Fund Health Balancer Fund Health Flexi Balanced Fund Health Multiplier Fund Health Protector Fund Income Fund Invest Shield Fund - Life Invest Shield Fund - Pension Money Market Fund Multi Cap Growth Fund Multiplier Fund New Invest Shield Balanced Fund Opportunities Fund Pension Balancer Fund Pension Bluechip Fund Pension Income Fund Pension Money Market Fund Pension Opportunities Fund Pension Protector Fund Protector Fund Secure Plus Fund Secure Plus Pension Fund Secure Save Builder Fund Secure Save Guarantee Fund Total
(` 000)
ICICI Bank Limited 7 356,979 132,809 11,219 499,980 153,539 56,229 5,239 1,003 192,068 177,364 11,322 288 57 790 70 13 3,788 8,539 34,339 7,343 1,479 65 475,099 40,365 532 589,179 4,891 76,061 19,653 3,796 831,643 370,235 8,148 3,449 82 1,362 4,079,024
Repo transactions during the year ended March 31, 2010

Fund name Anmol Nivesh Fund Balancer Fund Bluechip Fund Cash Plus Fund Dynamic P/E Fund Flexi Balanced Fund Flexi Growth Fund Group Balanced Fund Group Capital Guarantee Balanced Fund Group Capital Guarantee Debt Fund Group Capital Guarantee Growth Fund Group Capital Guarantee Short Term Debt Fund Group Debt Fund Group Growth Fund Group Leave Encashment Balance Fund Group Leave Encashment Income Fund Group Leave Encashment Short Term Fund Group Return Guarantee Fund II Group Short Term Debt Fund Health Balancer Fund Health Flexi Balanced Fund Health Flexi Growth Fund Health Multiplier Fund Health Preserver Fund ICICI Bank Limited 193 3,392,009 3,067 5,699,338 6,792 3,772,598 19,660,759 15,792,053 3,731,205 1,417,840 31,725 1,633,398 2,895,942 5,253,694 662,925 18,304 24,398 7,920 7,741,914 62,297 29,961 107,199 15,448 9,596 ICICI Securities Primary Dealership Limited 59,176 40,582 188,172 1,280 413 5,863 679
(` 000)
Total 193 3,392,009 3,067 5,758,514 6,792 3,772,598 19,660,759 15,792,053 3,731,205 1,458,422 31,725 1,633,398 2,895,942 5,441,866 662,925 18,304 24,398 7,920 7,741,914 63,577 30,374 113,062 16,127 9,596
180

Fund name Health Protector Fund Health Return Guarantee Fund II Health Return Guarantee Fund IV Health Return Guarantee Fund V Health Return Guarantee Fund VI Health Return Guarantee Fund VII Income Fund Invest Shield Fund - Life Invest Shield Fund - Pension Maximiser Fund Money Market Fund Multi Cap Balanced Fund Multi Cap Growth Fund Multiplier Fund New Invest Shield Balanced Fund Opportunities Fund Pension Balancer Fund Pension Bluechip Fund Pension Dynamic P/E Fund Pension Flexi Balanced Fund Pension Flexi Growth Fund Pension Income Fund Pension Maximiser Fund Pension Money Market Fund Pension Multi Cap Balanced Fund Pension Multi Cap Growth Fund Pension Multiplier Fund Pension Opportunities Fund Pension Preserver Fund Pension Protector Fund Pension Return Guarantee Fund II Pension Return Guarantee Fund IV Pension Return Guarantee Fund V Pension Return Guarantee Fund VI Pension Return Guarantee Fund VII Pension RICH Fund Preserver Fund Protector Fund Return Guarantee Fund IV Return Guarantee Fund V Return Guarantee Fund VI Return Guarantee Fund VII RICH Fund Secure Plus Fund Secure Plus Pension Fund Secure Save Builder Fund Secure Save Guarantee Fund Total ICICI Bank Limited 321,868 1,035 4,977 1,457 337 297 99,533 2,095,095 1,056,563 11,052,818 10,620 4,985 16,775 2,656,763 2,685,926 6,349 9,234,557 27,488 140,250 3,164,433 8,802,230 281,310 1,820,716 97,631 51,711 234,983 971,815 65,675 2,787,050 22,549,509 4,056 156,023 14,624 21,093 242,332 10,097,198 2,446,736 4,048,678 59,999 11,138 4,155 7,215 5,160,453 824,860 173,508 3,609 123,696 165,614,704 ICICI Securities Primary Dealership Limited 5,288 3,725 63,715 2,474 68 148,174 31 109,935 192,238 1,222,483 16,967 6,430 289 3,758 2,071,740 Total 327,156 1,035 4,977 1,457 337 297 103,258 2,158,810 1,056,563 11,055,292 10,688 4,985 16,775 2,656,763 2,834,100 6,380 9,234,557 27,488 140,250 3,274,368 8,994,468 281,310 1,820,716 97,631 51,711 234,983 971,815 65,675 2,787,050 22,549,509 4,056 156,023 14,624 21,093 242,332 11,319,681 2,446,736 4,048,678 59,999 11,138 4,155 7,215 5,160,453 841,827 179,938 3,898 127,454 167,686,444
(g) Interest income* earned during the year ended March 31, 2011
Fund name Anmol Nivesh Fund Balancer Fund Cash Plus Fund Flexi Balanced Fund Flexi Growth Fund Group Balanced Fund Group Capital Guarantee Balanced Fund Group Capital Guarantee Debt Fund Group Capital Guarantee Growth Fund Group Capital Guarantee Short Term Debt Fund II Group Debt Fund Group Growth Fund Group Leave Encashment Balance Fund Group Leave Encashment Income Fund Group Leave Encashment Short Term Fund Group Return Guarantee Fund Group Return Guarantee Fund II Group Return Guarantee Fund III Group Short Term Debt fund Health Balancer Fund Health Flexi Balanced Fund Health Multiplier Fund Health Preserver Fund Health Protector Fund Health Return Guarantee Fund Health Return Guarantee Fund II Health Return Guarantee Fund III Health Return Guarantee Fund IV Health Return Guarantee Fund VI Health Return Guarantee Fund VII Income Fund Invest Sheild Fund - Life Invest Sheild Fund - Pension Maximiser Fund Money Market Fund Multi Cap Balanced Fund ICICI Bank Limited 1 8,681 6,305 1,800 3,358 23,861 3,476 584 99 2,163 9,761 9,502 844 79 2 13,217 85 122 32 354 2,850 2,631 548 4,748 942 129 ICICI Home Finance Company Limited 12,346 1,326 32 5,203 14 1 945 417 7 11 14,798 726 7,344 1 236 316 125 3 1 15 740 68 ICICI Securities Primary Dealership Limited 210 2 229 382 2 435 985 472 1 47 589 71
(` 000)
Total 1 21,027 7,631 1,832 3,358 29,274 3,490 584 102 2,392 10,706 10,301 851 90 4 14,798 1,161 8,329 13,689 85 122 33 355 283 316 125 3 1 15 2,850 3,960 616 4,748 1,013 129
181
financial Report
Fund name Multi Cap Growth Fund Multiplier Fund New Invest Shield Balanced Fund Opportunities Fund Pension Balancer Fund Pension Bluechip Fund Pension Dynamic P/E Fund Pension Flexi Balanced Fund Pension Flexi Growth Fund Pension Income Fund Pension Maximiser Fund Pension Money Market Fund Pension Multi Cap Balanced Fund Pension Multi Cap Growth Fund Pension Multiplier Fund Pension Opportunities Fund Pension Preserver Fund Pension Protector Fund Pension Return Guarantee Fund Pension Return Guarantee Fund II Pension Return Guarantee Fund III Pension Return Guarantee Fund IV Pension Return Guarantee Fund V Pension Return Guarantee Fund VI Pension Return Guarantee Fund VII Pension RICH Fund Preserver Fund Protector Fund Return Guarantee Fund Return Guarantee Fund II Return Guarantee Fund III Return Guarantee Fund IV Return Guarantee Fund VI Return Guarantee Fund VII Return Guarantee Fund XI (5 Yrs) RICH Fund Secure Plus Fund Secure Plus Pension Fund Secure Save Builder Fund Secure Save Guarantee Fund Total
ICICI Bank Limited 267 809 10,403 726 11,585 1 781 4,001 1,908 6,394 2,243 1,874 734 347 30 1 13,241 28,230 8,254 10,094 20,884 6,316 597 205 14 60 226,173
ICICI Home Finance Company Limited 164 7,199 128 4,825 9,534 17,344 12,986 181 43 1 264 3,473 4,746 5,952 5,623 71 1 15 214 101 117,540
ICICI Securities Primary Dealership Limited 117 385 8,838 3,721 411 2,295 1,404 882 10 21,488
Total 267 809 10,567 726 18,784 1 781 4,129 1,908 6,394 2,243 1,991 734 347 30 1 13,626 33,055 18,372 21,065 12,986 181 43 1 264 8,254 10,505 24,357 7,041 7,356 5,623 953 1 15 10 6,316 811 306 14 60 365,201
Note: *Interest income includes amortisation of premium (net of accretion of discount) earned on discounted securities
Interest income* earned during the year ended March 31, 2010
Fund name Balancer Fund Cash Plus Fund Dynamic P/E Fund Flexi Balanced Fund Flexi Growth Fund Group Balanced Fund Group Capital Guarantee Balanced Fund Group Capital Guarantee Debt Fund Group Capital Guarantee Growth Fund Group Capital Guarantee Short Term Debt Fund II Group Debt Fund Group Growth Fund Group Leave Encashment Balance Fund Group Leave Encashment Income Fund Group Leave Encashment Short Term Fund Group Return Guarantee Fund Group Return Guarantee Fund II Group Return Guarantee Fund III Group Short Term Debt fund Health Balancer Fund Health Flexi Balanced Fund Health Flexi Growth Fund Health Multiplier Fund Health Preserver Fund Health Protector Fund Health Return Guarantee Fund Health Return Guarantee Fund II Health Return Guarantee Fund III Health Return Guarantee Fund IV Health Return Guarantee Fund VI Health Return Guarantee Fund VII Income Fund Invest Sheild Fund - Life Invest Sheild Fund - Pension Maximiser Fund Money Market Fund Multi Cap Balanced Fund Multi Cap Growth Fund ICICI Bank Limited 75,589 13,097 1 3,733 7,039 9,892 2,807 632 92 19,153 13,641 3,070 2,193 44 157 5 38,217 84 66 359 2 15 313 5 2 4 44 3,441 741 11,122 4 4 2 ICICI Home Finance Company Limited 9,553 3,257 460 8,188 341 1,055 25 169 3,062 1,036 172 112 3 10,230 672 3,945 281 2 1 13 390 436 398 92 15 5 1,256 171 ICICI Securities Primary Dealership Limited 14 1,998 3,458 27 880 12,896 1 1 1 611 1
(` 000)
Total 85,142 16,368 1 4,193 7,039 20,078 3,148 5,145 144 19,322 16,703 4,986 2,365 156 160 10,230 677 16,841 38,498 86 67 360 2 15 327 390 436 403 94 19 5 45 5,308 912 11,123 4 4 2
182

Fund name Multiplier Fund New Invest Shield Balanced Fund Opportunities Fund Pension Balancer Fund Pension Bluechip Fund Pension Dynamic P/E Fund Pension Flexi Balanced Fund Pension Flexi Growth Fund Pension Income Fund Pension Maximiser Fund Pension Money Market Fund Pension Multi Cap Balanced Fund Pension Multi Cap Growth Fund Pension Multiplier Fund Pension Opportunities Fund Pension Preserver Fund Pension Protector Fund Pension Return Guarantee Fund Pension Return Guarantee Fund II Pension Return Guarantee Fund III Pension Return Guarantee Fund IV Pension Return Guarantee Fund V Pension Return Guarantee Fund VI Pension Return Guarantee Fund VII Pension RICH Fund Preserver Fund Protector Fund Return Guarantee Fund Return Guarantee Fund II Return Guarantee Fund III Return Guarantee Fund IV Return Guarantee Fund V Return Guarantee Fund VI Return Guarantee Fund VII RICH Fund Secure Plus Fund Secure Plus Pension Fund Secure Save Builder Fund Secure Save Guarantee Fund Total ICICI Bank Limited 370 3,964 1 25,237 3 16 1,628 831 289 3,287 48 45 27 125 7 10,112 35,870 181 1 349 26 3,628 19,571 70,556 127 62 1 100 1 587 933 218 6 84 383,861 ICICI Home Finance Company Limited 766 9,930 411 14 8,657 14,397 17,344 13,649 1,801 6 16 1,736 106 5,308 3,803 5,310 5,225 1,604 8 123 378 174 136,106 ICICI Securities Primary Dealership Limited 35 26 46 559 178 4 2 1 20,739 Total 370 4,765 1 35,167 3 16 2,065 877 289 3,287 48 45 27 125 7 10,126 44,527 14,397 17,344 13,649 1,982 7 365 1,762 4,187 19,677 75,864 3,803 5,310 5,352 1,666 1 108 124 765 1,315 394 6 85 540,706
Note: *Interest income includes amortisation of premium (net of accretion of discount) earned on discounted securities
(h) Profit/(loss) on sale of investments for the year ended March 31, 2011
Fund name Balancer Fund Cash Plus Fund Dynamic P/E Fund Flexi Balanced Fund Group Balanced Fund Group Capital Guarantee Balanced Fund Group Capital Guarantee Debt Fund Group Capital Guarantee Growth Fund Group Capital Guarantee Short Term Debt Fund II Group Debt Fund Group Growth Fund Group Leave Encashment Balance Fund Group Leave Encashment Income Fund Group Short Term Debt fund Health Balancer Fund Health Protector Fund Income Fund Invest Shield Fund - Life Invest Shield Fund - Pension Maximiser Fund Money Market Fund Multi Cap Balanced Fund New Invest Shield Balanced Fund Pension Balancer Fund Pension Dynamic P/E Fund Pension Flexi Balanced Fund Pension Income Fund Pension Money Market Fund Pension Multi Cap Balanced Fund Pension Preserver Fund Pension Protector Fund Pinnacle Fund Preserver Fund Protector Fund Secure Plus Fund Secure Plus Pension Fund Secure Save Guarantee Fund Total ICICI Bank Limited (51) (8) (62) (75) (1) 9 8 39 (10) (1) 14 2 37 (1) 5 7 (1) (41) (146) 2 10 7 (2) 31 67 (56) 54 52 (1) (112) ICICI Lombard General Insurance Company Limited 3 1 2 1 8 2 3 3 23 ICICI Securities Primary Dealership Limited (319) (85) (31) (251) (45) (6) (1) 363 (59) (11) (1) (1) 64 (5) (33) (7) (0) (39) 175 (314) (28) (33) (7) (222) (249) (6) (2) (1) (1,154)
(` 000)
Total (367) (92) (62) (31) (324) (46) 3 (1) 8 403 (69) (12) (1) 14 (1) 66 32 (34) (7) 8 5 7 (40) 136 (460) (26) (23) 7 (9) 31 (152) (56) 54 (194) (7) (2) (1) (1,245)
183
financial Report
Profit/(loss) on sale of investments for the year ended March 31, 2010
Fund name Balancer Fund Cash Plus Fund Flexi Balanced Fund Group Balanced Fund Group Capital Guarantee Balanced Fund Group Capital Guarantee Debt Fund Group Capital Guarantee Growth Fund Group Debt Fund Group Growth Fund Group Leave Encashment Balance Fund Group Return Guarantee Fund Health Protector Fund Health Return Guarantee Fund Health Return Guarantee Fund II Invest Shield Fund - Life Invest Shield Fund - Pension New Invest Shield Balanced Fund Pension Balancer Fund Pension Flexi Balanced Fund Pension Protector Fund Pension Return Guarantee Fund II Protector Fund Return Guarantee Fund II Secure Plus Fund Secure Plus Pension Fund Total ICICI Bank Limited (1,031) (186) (52) (482) (37) (2) (21) (89) (18) (58) (11) (67) (405) (38) (498) (853) (19) (9) (3,876) ICICI Lombard General Insurance Company Limited 130 36 7 46 13 1 37 13 3 2,540 1 25 53 9 2 10 63 6 3,058 2,090 2,206 758 3 1 11,111 ICICI Securities Primary Dealership Limited 3,101 222 50 339 41 (1) 3 230 74 17 2 59 12 68 436 35 550 960 23 10 6,231
(` 000)
Total 2,200 72 5 (97) 17 1 246 (2) 2 2,540 3 25 53 10 3 11 94 3 3,110 2,090 2,313 758 7 2 13,466
184

II. Company-wise details of investments held in the promoter group companies as at March 31, 2011
(` 000)
Fund name Anmol Nivesh Fund Balancer Fund Cash Plus Fund Flexi Balanced Fund Flexi Growth Fund Group Balanced Fund Group Capital Guarantee Balanced Fund Group Capital Guarantee Debt Fund Group Capital Guarantee Growth Fund Group Capital Guarantee Short Term Debt Fund II Group Debt Fund Group Growth Fund Group Leave Encashment Balance Fund Group Leave Encashment Income Fund Group Leave Encashment Short Term Fund Group Return Guarantee Fund Group Return Guarantee Fund II Group Return Guarantee Fund III Group Short Term Debt fund Health Balancer Fund Health Flexi Balanced Fund Health Preserver Fund Health Protector Fund Health Return Guarantee Fund Health Return Guarantee Fund II Health Return Guarantee Fund III Health Return Guarantee Fund VII Income Fund Invest Shield Fund - Life Invest Shield Fund - Pension Maximiser Fund Money Market Fund Multi Cap Balanced Fund Multi Cap Growth Fund New Invest Shield Balanced Fund Opportunities Fund Pension Balancer Fund Pension Flexi Balanced Fund Pension Flexi Growth Fund Pension Income Fund Pension Maximiser Fund Pension Money Market Fund Pension Multi Cap Balanced Fund Pension Multi Cap Growth Fund Pension Preserver Fund Pension Protector Fund Pension Return Guarantee Fund Pension Return Guarantee Fund II Pension Return Guarantee Fund III Pension Return Guarantee Fund VII Pension RICH Fund Preserver Fund Protector Fund Return Guarantee Fund Return Guarantee Fund II Return Guarantee Fund III Return Guarantee Fund IV Return Guarantee Fund XI (5 Yrs) RICH Fund Secure Plus Fund Secure Plus Pension Fund Secure Save Builder Fund Secure Save Guarantee Fund Total % to total assets held in ULIP ICICI Bank Limited 19 24,658 68,636 14,034 161,144 39,931 804 1,961 53,504 12,395 30,496 4,980 958 65 8,529 1,119 1,995 467 6,965 100,940 15,350 6,273 485,182 30,966 3,697 146,801 181,593 26,886 104,647 14,541 199,792 40,627 63,729 14,183 5,859 190,853 142,346 299,853 334,261 6,731 290,580 243,961 3,565 1,457 200 1,423 3,388,956 0.58% % of assets held 0.00% 0.73% 2.03% 0.41% 4.75% 1.18% 0.02% 0.06% 1.58% 0.37% 0.90% 0.15% 0.03% 0.00% 0.25% 0.03% 0.06% 0.01% 0.21% 2.98% 0.45% 0.19% 14.32% 0.91% 0.11% 4.33% 5.36% 0.79% 3.09% 0.43% 5.90% 1.20% 1.88% 0.42% 0.17% 5.63% 4.20% 8.85% 9.86% 0.20% 8.57% 7.20% 0.11% 0.04% 0.01% 0.04% ICICI Securities Primary Dealership Limited 4,677 501 95,111 40,047 25,511 15,107 9,811 9,468 200,233 0.03% % of assets held 2.34% 0.25% 47.50% 20.00% 12.74% 7.54% 4.90% 4.73% ICICI Home Finance Company Limited 68,507 13,288 319 51,940 9,471 3,920 194,480 8,457 105,413 2,643 2,954 1,168 192 7,194 641 1,640 72,040 1,161 48,333 110,907 171,171 151,269 384 34,800 47,462 58,743 60,575 2,075 982 1,232,129 0.21% % of assets held 5.56% 1.08% 0.03% 4.22% 0.77% 0.32% 15.78% 0.69% 8.56% 0.21% 0.24% 0.09% 0.02% 0.58% 0.05% 0.13% 5.85% 0.09% 3.92% 9.00% 13.89% 12.28% 0.03% 2.82% 3.85% 4.77% 4.92% 0.17% 0.08% First Source Solutions Limited 1,610 55,582 1,697 994 45,704 28,868 134,455 0.02% % of assets held 1.20% 41.34% 1.26% 0.74% 33.99% 21.47% Total 19 93,165 81,924 15,963 55,582 213,084 39,931 804 1,961 53,504 21,866 36,113 4,980 958 65 194,480 13,134 105,413 8,529 1,119 1,995 467 6,965 3,144 2,954 1,168 192 100,940 22,544 6,914 485,182 30,966 3,697 146,801 183,233 26,886 176,687 16,696 245,496 40,627 92,597 14,183 5,859 190,853 142,346 348,186 206,018 211,218 151,269 384 334,261 6,731 325,380 72,973 73,850 60,575 9,811 9,468 243,961 5,640 2,439 200 1,423 4,955,773 0.84%
185
financial Report
Company-wise details of investments held in the promoter group companies as at March 31, 2010
ICICI Bank Limited 700,797 171,445 69,915 562,187 100,881 20,732 1,595 185,910 148,065 21,946 1,065 359,116 1,503 1,175 435 10,962 7,005 82,107 16,735 498,255 137 1,404 87,626 401,851 66,486 57,211 134,060 9,248 8,731 111,492 715,136 1,428,084 208,900 480,630 19,872 7,597 208 2,062 6,702,566 1.30% % of assets held 10.46% 2.56% 1.04% 8.39% 1.51% 0.31% 0.02% 2.77% 2.21% 0.33% 0.02% 5.36% 0.02% 0.02% 0.01% 0.16% 0.10% 1.23% 0.25% 7.43% 0.02% 1.31% 6.00% 0.99% 0.85% 2.00% 0.14% 0.13% 1.66% 10.67% 21.31% 3.12% 7.17% 0.30% 0.11% 0.03% 20,678 1 275 8,646 169,127 6,164 204,891 0.04% ICICI Securities Primary Dealership Limited % of assets held 10.09 0.00 0.13 4.22 82.54 3.01 60,207 3,924 275 9,922 11,607 1,908 3,293 194,361 8,652 52,487 22 14 163 3,391 3,550 3,821 836 355 195 13,830 1,920 1,718 78,225 4,814 50,622 113,935 177,204 154,729 52,495 12,419 296 66,546 36,457 49,585 60,813 65,876 20,644 157 4,471 4,178 1,924 1,522,569 0.30% ]ICICI Home Finance Company Limited 176,473 13,921 334 % of ass11ets held 11.59% 0.91% 0.02% 3.95% 0.26% 0.02% 0.65% 0.76% 0.13% 0.22% 12.77% 0.57% 3.45% 0.01% 0.22% 0.23% 0.25% 0.05% 0.02% 0.01% 0.91% 0.13% 0.11% 5.14% 0.32% 3.32% 7.48% 11.64% 10.16% 3.45% 0.82% 0.02% 4.37% 2.39% 3.26% 3.99% 4.33% 1.36% 0.01% 0.29% 0.27% 0.13% First Source Solutions Limited 2,574 88,869 272 169 2,714 4,106 843 4,774 8,992 1,589 73,075 46,157 234,134 0.05% % of assets held 1.10% 37.96% 0.12% 0.07% 1.16% 1.75% 0.36% 2.04% 3.84% 0.68% 31.21% 19.71%
(` 000)
Total
Fund name
Balancer Fund Cash Plus Fund Flexi Balanced Fund Flexi Growth Fund Group Balanced Fund Group Capital Guarantee Balanced Fund Group Capital Guarantee Debt Fund Group Capital Guarantee Growth Fund Group Debt Fund Group Growth Fund Group Leave Encashment Balance Fund Group Leave Encashment Income Fund Group Return Guarantee Fund Group Return Guarantee Fund II Group Return Guarantee Fund III Group Short Term Debt Fund Health Balancer Fund Health Flexi Balanced Fund Health Preserver Fund Health Protector Fund Health Return Guarantee Fund Health Return Guarantee Fund II Health Return Guarantee Fund III Health Return Guarantee Fund IV Health Return Guarantee Fund VI Health Return Guarantee Fund VII Income Fund Invest Shield Fund - Life Invest Shield Fund - Pension Maximiser Fund Money Market Fund Multi Cap Balanced Fund New Invest Shield Balanced Fund Pension Balancer Fund Pension Flexi Balanced Fund Pension Flexi Growth Fund Pension Income Fund Pension Maximiser Fund Pension Money Market Fund Pension Multi Cap Balanced Fund Pension Preserver Fund Pension Protector Fund Pension Return Guarantee Fund Pension Return Guarantee Fund II Pension Return Guarantee Fund III Pension Return Guarantee Fund IV Pension Return Guarantee Fund V Pension Return Guarantee Fund VI Pension Return Guarantee Fund VII Pension RICH Fund Preserver Fund Protector Fund Return Guarantee Fund Return Guarantee Fund II Return Guarantee Fund III Return Guarantee Fund IV Return Guarantee Fund VI Return Guarantee Fund VII Secure Plus Fund Secure Plus Pension Fund Secure Save Builder Fund Secure Save Guarantee Fund Total % to total assets held in ULIP
877,270 185,366 72,823 88,869 643,072 105,077 20,733 2,314 195,832 171,032 23,854 4,358 194,361 8,652 221,614 359,116 1,525 1,189 435 11,125 3,391 3,550 3,821 836 355 195 7,005 106,207 19,498 498,255 137 1,404 94,118 489,068 72,889 73,075 57,211 180,217 9,248 8,731 111,492 765,758 113,935 177,204 154,729 52,495 12,419 296 66,546 1,428,084 208,900 517,087 49,585 60,813 65,876 20,644 157 4,471 24,050 9,521 208 2,062 8,664,160 1.68%
186

5. Unclaimed redemption of units
Scheme name Balancer Fund II Balancer Fund III Flexi Growth Fund II Maximiser Fund II Maximiser Fund III Pension Balancer Fund Pension Balancer Fund II Pension Flexi Balanced Fund Pension Flexi Balanced Fund II Pension Flexi Growth Fund Pension Flexi Growth Fund II Pension Income Fund Pension Maximiser Fund Pension Maximiser Fund II Pension Multiplier Fund Pension Multiplier Fund II Pension Preserver Fund Pension Protector Fund Pension Protector Fund II Preserver Fund Preserver Fund III Protector Fund II Units 30 79 67 357 47 516 446 67 30 86 116 1 230 441 8 12 65 644 580 14 14 28 Value 713 1,272 1,052 14,082 843 16,142 10,367 982 459 1,310 1,817 5 16,150 17,967 87 130 1,053 11,687 9,016 225 202 440 Units 79 63 345 695 785 35 171 162 328 1,345 14 12 133 516 690 20 23 as on March 31, 2011 as on March 31, 2010 1,735 908 12,164 20,869 17,272 6 496 2,364 2,290 20,963 49,406 146 122 2,017 8,939 10,148 312 333
(` 000)
Value
6.
Net Asset Value (NAV): Highest, lowest and closing during the year ended March 31, 2011
(` per unit)
Scheme name Anmol Nivesh Fund Balancer Fund Balancer Fund II Balancer Fund III Balancer Fund IV Bluechip Fund Cash Plus Fund Discontinued Fund-Life Dynamic P/E Fund Flexi Balanced Fund Flexi Balanced Fund II Flexi Balanced Fund III Flexi Balanced Fund IV Flexi Growth Fund Flexi Growth Fund II Flexi Growth Fund III Flexi Growth Fund IV Group Balanced Fund Group Capital Guarantee Balanced Fund Group Capital Guarantee Balanced Fund II Group Capital Guarantee Debt Fund Group Capital Guarantee Debt Fund II Group Capital Guarantee Growth Fund Group Capital Guarantee Growth Fund II Group Capital Guarantee Short Term Debt Fund Group Capital Guarantee Short Term Debt Fund II Group Debt Fund Group Growth Fund Group Leave Encashment Balance Fund Group Leave Encashment Income Fund Group Leave Encashment Short Term Fund Group Return Guarantee Fund Group Return Guarantee Fund - A4 Group Return Guarantee Fund - S5 Group Return Guarantee Fund - S6 Group Return Guarantee Fund II Group Return Guarantee Fund III Group Short Term Debt fund Group Superannuation Corporate Bond Fund Health Balancer Fund Health Flexi Balanced Fund Health Flexi Growth Fund Health Multiplier Fund Health Preserver Fund Health Protector Fund Health Return Guarantee Fund Health Return Guarantee Fund II Health Return Guarantee Fund III Health Return Guarantee Fund IV Health Return Guarantee Fund V Health Return Guarantee Fund VI Health Return Guarantee Fund VII Health Return Guarantee Fund IX (10 Yrs) Highest 11.16 35.65 24.10 16.49 14.53 12.07 16.15 10.02 12.36 14.97 15.83 14.83 14.02 16.86 17.30 16.80 14.79 23.00 15.99 14.33 17.55 15.12 15.34 14.24 15.94 13.60 17.47 33.76 13.29 10.92 10.66 11.81 10.04 10.00 10.00 11.38 11.04 16.51 10.05 14.74 17.07 23.40 23.69 11.66 12.17 12.17 11.89 11.72 11.57 11.19 11.04 10.62 10.00 Lowest 10.46 32.24 21.66 14.91 13.06 9.40 15.38 10.00 9.72 13.09 13.75 12.97 12.18 13.35 13.65 13.31 11.67 21.57 15.08 13.46 16.51 14.20 13.93 12.89 15.00 12.83 16.47 29.22 12.41 10.26 10.03 11.34 10.00 10.00 10.00 10.83 10.68 15.54 10.00 13.25 14.66 18.46 18.43 10.89 11.29 11.32 11.35 11.22 11.04 10.66 10.62 10.21 10.00 Closing 11.16 34.80 23.64 16.09 14.25 10.93 16.15 10.02 11.64 14.10 14.99 13.97 13.27 15.26 15.70 15.20 13.43 23.00 15.99 14.33 17.55 15.12 15.19 14.14 15.94 13.60 17.47 32.83 13.29 10.92 10.66 11.81 10.04 10.00 10.00 11.38 11.04 16.51 10.05 14.31 16.24 20.86 21.02 11.66 12.17 12.17 11.89 11.72 11.57 11.19 11.04 10.62 10.00
187
financial Report
Scheme name Health Return Guarantee Fund IX (5 Yrs) Highest NAV Fund B Income Fund Invest Shield Cash Fund Invest Shield Fund - Life Invest Shield Fund - Pension Maximiser Fund Maximiser Fund II Maximiser Fund III Maximiser Fund IV Money Market Fund Multi Cap Balanced Fund Multi Cap Growth Fund Multiplier Fund Multiplier Fund II Multiplier Fund III Multiplier Fund IV New Invest Shield Balanced Fund Opportunities Fund Pension Balancer Fund Pension Balancer Fund II Pension Bluechip Fund Pension Dynamic P/E Fund Pension Flexi Balanced Fund Pension Flexi Balanced Fund II Pension Flexi Growth Fund Pension Flexi Growth Fund II Pension Income Fund Pension Maximiser Fund Pension Maximiser Fund II Pension Money Market Fund Pension Multi Cap Balanced Fund Pension Multi Cap Growth Fund Pension Multiplier Fund Pension Multiplier Fund II Pension Opportunities Fund Pension Preserver Fund Pension Protector Fund Pension Protector Fund II Pension Return Guarantee Fund Pension Return Guarantee Fund II Pension Return Guarantee Fund III Pension Return Guarantee Fund IV Pension Return Guarantee Fund V Pension Return Guarantee Fund VI Pension Return Guarantee Fund VII Pension Return Guarantee Fund VIII Pension Return Guarantee Fund IX (10 Yrs) Pension Return Guarantee Fund X (10 Yrs) Pension RICH Fund Pension RICH Fund II Pinnacle Fund Pinnacle Fund II Preserver Fund Preserver Fund III Preserver Fund IV Protector Fund Protector Fund II Protector Fund III Protector Fund IV Return Guarantee Fund Return Guarantee Fund II Return Guarantee Fund III Return Guarantee Fund IV Return Guarantee Fund V Return Guarantee Fund VI Return Guarantee Fund VII Return Guarantee Fund VIII (10 Yrs) Return Guarantee Fund VIII (5 Yrs) Return Guarantee Fund IX (5 Yrs) Return Guarantee Fund IX (10 Yrs) Return Guarantee Fund X (10 Yrs) Return Guarantee Fund X (5 Yrs) Return Guarantee Fund XI (5 Yrs) RICH Fund RICH Fund II RICH Fund III RICH Fund IV Secure Plus Fund Secure Plus Pension Fund Secure Save Builder Fund Secure Save Guarantee Fund
Highest 10.13 10.44 10.87 15.44 19.18 19.50 77.02 42.81 19.48 15.25 10.81 11.22 12.63 11.36 12.80 12.51 12.76 16.42 12.30 32.54 24.05 11.86 12.23 15.49 15.90 16.73 17.23 10.70 75.99 43.95 10.76 11.00 12.44 12.42 12.73 12.12 16.22 18.16 15.55 12.24 11.85 11.68 11.47 11.05 11.01 10.63 10.33 10.23 10.23 15.46 15.77 12.41 10.27 16.37 14.70 13.21 20.27 15.62 14.31 13.41 12.25 11.89 11.69 11.47 11.04 11.02 10.65 10.33 10.12 10.13 10.24 10.25 10.15 10.05 15.52 15.86 15.54 15.85 15.87 15.56 12.52 11.62
Lowest 10.00 9.91 10.20 14.70 17.82 18.07 59.86 33.15 15.14 11.80 10.13 9.78 9.59 8.94 10.03 9.85 10.00 14.89 9.74 29.54 21.70 9.29 9.68 13.51 13.78 13.06 13.40 10.13 59.62 34.36 10.07 9.62 9.39 9.73 9.93 9.52 15.19 17.33 14.72 11.75 11.38 11.20 10.96 10.67 10.59 10.21 10.00 9.97 10.00 12.12 12.31 9.95 8.84 15.32 13.84 12.37 19.38 14.80 13.67 12.71 11.72 11.38 11.20 10.98 10.67 10.60 10.23 10.00 9.98 9.99 9.98 10.00 10.00 10.00 12.15 12.37 12.17 12.36 15.20 14.93 10.59 10.62
Closing 10.13 10.44 10.87 15.44 18.86 19.16 70.79 39.48 17.91 14.06 10.81 10.82 11.46 10.50 11.87 11.56 11.83 15.94 11.27 31.26 23.23 10.49 11.45 14.64 15.11 15.20 15.70 10.70 70.18 40.72 10.76 10.48 11.16 10.96 11.27 10.89 16.22 18.16 15.55 12.24 11.85 11.68 11.47 11.05 11.01 10.63 10.33 10.23 10.23 13.85 14.17 11.63 9.63 16.37 14.70 13.21 20.27 15.62 14.31 13.41 12.25 11.89 11.69 11.47 11.04 11.02 10.65 10.33 10.12 10.13 10.24 10.25 10.15 10.05 13.93 14.29 13.95 14.28 15.87 15.56 12.03 11.49
188

Net Asset Value (NAV): Highest, lowest and closing during the year ended March 31, 2010
(` per unit)
Scheme name Anmol Nivesh Fund Balancer Fund Balancer Fund II Balancer Fund III Balancer Fund IV Bluechip Fund Cash Plus Fund Dynamic P/E Fund Flexi Balanced Fund Flexi Balanced Fund II Flexi Balanced Fund III Flexi Balanced Fund IV Flexi Growth Fund Flexi Growth Fund II Flexi Growth Fund III Flexi Growth Fund IV Group Balanced Fund Group Capital Guarantee Balanced Fund Group Capital Guarantee Balanced Fund II Group Capital Guarantee Debt Fund Group Capital Guarantee Debt Fund II Group Capital Guarantee Growth Fund Group Capital Guarantee Growth Fund II Group Capital Guarantee Short Term Debt Fund Group Capital Guarantee Short Term Debt Fund II Group Debt Fund Group Growth Fund Group Leave Encashment Balance Fund Group Leave Encashment Income Fund Group Leave Encashment Short Term Fund Group Return Guarantee Fund Group Return Guarantee Fund II Group Return Guarantee Fund III Group Short Term Debt fund Health Balancer Fund Health Flexi Balanced Fund Health Flexi Growth Fund Health Multiplier Fund Health Preserver Fund Health Protector Fund Health Return Guarantee Fund Health Return Guarantee Fund II Health Return Guarantee Fund III Health Return Guarantee Fund IV Health Return Guarantee Fund V Health Return Guarantee Fund VI Health Return Guarantee Fund VII Income Fund Invest Shield Cash Fund Invest Shield Fund - Life Invest Shield Fund - Pension Maximiser Fund Maximiser Fund II Maximiser Fund III Maximiser Fund IV Money Market Fund Multi Cap Balanced Fund Multi Cap Growth Fund Multiplier Fund Multiplier Fund II Multiplier Fund III Multiplier Fund IV New Invest Shield Balanced Fund Opportunities Fund Pension Balancer Fund Pension Balancer Fund II Pension Bluechip Fund Pension Dynamic P/E Fund Pension Flexi Balanced Fund Pension Flexi Balanced Fund II Pension Flexi Growth Fund Pension Flexi Growth Fund II Pension Income Fund Pension Maximiser Fund Pension Maximiser Fund II Pension Money Market Fund Pension Multi Cap Balanced Fund Pension Multi Cap Growth Fund Pension Multiplier Fund Pension Multiplier Fund II Pension Opportunities Fund Pension Preserver Fund Pension Protector Fund Pension Protector Fund II Pension Return Guarantee Fund Pension Return Guarantee Fund II Pension Return Guarantee Fund III Pension Return Guarantee Fund IV Pension Return Guarantee Fund V Pension Return Guarantee Fund VI Highest 10.46 32.75 21.96 15.15 13.23 10.28 15.37 10.42 13.61 14.22 13.49 12.60 14.24 14.51 14.19 12.40 21.56 15.11 13.48 16.51 14.19 14.24 13.15 15.00 12.83 16.47 30.07 12.39 11.72 11.49 11.34 10.82 10.68 15.54 13.40 15.00 19.55 19.70 10.89 11.29 11.32 11.35 11.22 11.04 10.66 10.61 10.20 10.19 14.70 17.90 18.15 64.40 35.61 16.29 12.68 10.12 10.22 10.17 9.72 10.89 10.72 10.85 15.06 10.33 30.07 22.03 10.12 10.39 14.05 14.26 13.87 14.19 10.13 64.37 37.04 10.07 10.02 10.00 10.53 10.73 10.09 15.19 17.32 14.72 11.75 11.38 11.20 10.96 10.66 10.59 Lowest 10.00 24.84 16.44 11.48 9.90 9.25 14.19 9.41 9.68 10.01 9.62 8.90 8.33 8.44 8.31 7.21 17.97 12.88 11.53 14.06 13.09 10.54 9.70 14.05 12.05 15.12 20.01 10.36 10.00 10.00 10.34 10.00 10.00 14.56 10.23 10.35 10.66 10.53 10.20 10.29 10.28 10.32 10.21 10.00 9.96 10.00 9.99 9.98 13.56 14.56 14.57 36.40 19.97 9.21 7.10 10.00 9.65 9.30 5.76 6.41 6.35 6.38 11.80 9.42 23.82 17.22 9.09 9.39 10.16 10.21 8.00 8.13 10.00 35.94 20.50 10.00 9.51 9.20 6.32 6.40 9.20 14.23 16.14 13.60 10.65 10.36 10.21 10.00 9.94 10.00 Closing 10.46 32.67 21.91 15.11 13.21 10.18 15.37 10.30 13.47 14.13 13.35 12.51 14.12 14.42 14.08 12.32 21.55 15.10 13.47 16.51 14.19 14.18 13.10 15.00 12.83 16.47 29.94 12.38 10.26 10.03 11.34 10.82 10.68 15.54 13.40 15.00 19.55 19.70 10.89 11.29 11.32 11.35 11.22 11.04 10.66 10.61 10.20 10.19 14.70 17.90 18.13 63.82 35.29 16.14 12.56 10.12 10.11 10.09 9.61 10.77 10.59 10.74 15.06 10.28 30.04 22.01 10.03 10.28 13.91 14.16 13.81 14.15 10.13 63.84 36.73 10.07 9.95 9.91 10.41 10.62 10.06 15.19 17.32 14.72 11.75 11.38 11.20 10.96 10.66 10.59
189
financial Report
Scheme name Pension Return Guarantee Fund VII Pension RICH Fund Pension RICH Fund II Pinnacle Fund Preserver Fund Preserver Fund III Preserver Fund IV Protector Fund Protector Fund II Protector Fund III Protector Fund IV Return Guarantee Fund Return Guarantee Fund II Return Guarantee Fund III Return Guarantee Fund IV Return Guarantee Fund V Return Guarantee Fund VI Return Guarantee Fund VII RICH Fund RICH Fund II RICH Fund III RICH Fund IV Secure Plus Fund Secure Plus Pension Fund Secure Save Builder Fund Secure Save Guarantee Fund
Highest 10.21 12.78 12.97 10.75 15.32 13.84 12.37 19.38 14.80 13.67 12.71 11.72 11.38 11.20 10.98 10.67 10.60 10.22 12.87 13.06 12.89 13.06 15.19 14.93 11.27 10.84
Lowest 9.99 7.49 7.55 9.52 14.27 12.90 11.54 17.95 13.59 12.67 11.69 10.64 10.35 10.21 10.00 9.94 9.99 9.99 7.58 7.65 7.60 7.64 14.04 13.81 9.18 9.65
Closing 10.21 12.74 12.93 10.61 15.32 13.84 12.37 19.38 14.80 13.67 12.71 11.72 11.38 11.20 10.98 10.67 10.60 10.22 12.77 12.99 12.79 12.98 15.19 14.93 11.13 10.82
7. Annualised expense ratio and gross income ratio (including unrealised gains) to average daily net assets of the fund for the year ended March 31, 2011
Scheme name Anmol Nivesh Fund Balancer Fund Bluechip Fund Cash Plus Fund Discontinued Fund - Life* Dynamic P/E Fund Flexi Balanced Fund Flexi Growth Fund Group Balanced Fund Group Capital Guarantee Balanced Fund Group Capital Guarantee Debt Fund Group Capital Guarantee Growth Fund Group Capital Guarantee Short Term Debt Fund Group Debt Fund Group Growth Fund Group Leave Encashment Balance Fund Group Leave Encashment Income Fund Group Leave Encashment Short Term Fund Group Return Guarantee Fund Group Return Guarantee Fund - A4* Group Return Guarantee Fund - S5^ Group Return Guarantee Fund - S6^ Group Return Guarantee Fund II Group Return Guarantee Fund III Group Short Term Debt fund Group Superannuation Corporate Bond Fund* Health Balancer Fund Health Flexi Balanced Fund Health Flexi Growth Fund Health Multiplier Fund Health Preserver Fund Health Protector Fund Health Return Guarantee Fund Health Return Guarantee Fund II Health Return Guarantee Fund III Health Return Guarantee Fund IV Health Return Guarantee Fund V Health Return Guarantee Fund VI Health Return Guarantee Fund VII Health Return Guarantee Fund IX (5 Yrs)* Highest NAV Fund B* Income Fund Invest Shield Fund - Life Invest Shield Fund - Pension Maximiser Fund Money Market Fund Multi Cap Balanced Fund Multi Cap Growth Fund Multiplier Fund New Invest Shield Balanced Fund Opportunities Fund Pension Balancer Fund Pension Bluechip Fund Pension Dynamic P/E Fund Pension Flexi Balanced Fund Pension Flexi Growth Fund Pension Income Fund Pension Maximiser Fund Pension Money Market Fund Pension Multi Cap Balanced Fund Expenses ratio (%) 1.18 2.19 1.49 1.39 1.49 2.01 2.16 1.44 1.90 1.71 2.50 1.59 1.44 1.44 1.44 1.44 1.44 1.93 1.75 1.93 1.93 1.44 1.43 1.13 1.13 1.65 1.65 0.87 0.88 1.65 1.66 1.66 1.65 1.66 1.66 1.64 1.65 2.03 1.49 1.39 1.39 2.33 0.89 1.49 1.49 2.36 1.39 1.49 1.66 1.49 1.49 1.61 1.99 1.49 1.82 0.88 1.49 Gross income ratio (%) 8.17 8.89 5.91 6.33 7.31 4.80 7.02 10.94 7.95 8.03 7.98 10.06 7.45 7.38 11.10 8.51 7.70 7.55 5.97 10.67 6.93 5.25 7.60 12.17 7.83 8.73 8.61 8.60 7.72 8.61 8.86 6.39 6.19 6.50 6.70 5.91 6.28 7.57 140.49 8.22 6.49 6.75 13.78 8.12 5.28 6.71 11.19 6.97 5.74 6.41 6.21 12.23 7.33 12.09 6.90 12.44 7.64 7.02
190

Scheme name Pension Multi Cap Growth Fund Pension Multiplier Fund Pension Opportunities Fund Pension Preserver Fund Pension Protector Fund Pension Return Guarantee Fund Pension Return Guarantee Fund II Pension Return Guarantee Fund III Pension Return Guarantee Fund IV Pension Return Guarantee Fund V Pension Return Guarantee Fund VI Pension Return Guarantee Fund VII Pension Return Guarantee Fund VIII* Pension Return Guarantee Fund IX (10 Yrs)* Pension Return Guarantee Fund X (10 Yrs)* Pension RICH Fund Pinnacle Fund Pinnacle Fund II* Preserver Fund Protector Fund Return Guarantee Fund Return Guarantee Fund II Return Guarantee Fund III Return Guarantee Fund IV Return Guarantee Fund V Return Guarantee Fund VI Return Guarantee Fund VII Return Guarantee Fund VIII (10 Yrs)* Return Guarantee Fund VIII (5 Yrs)* Return Guarantee Fund IX (10 Yrs)* Return Guarantee Fund IX (5 Yrs)* Return Guarantee Fund X (10 Yrs)* Return Guarantee Fund X (5 Yrs)* Return Guarantee Fund XI (5 Yrs)* RICH Fund Secure Plus Fund Secure Plus Pension Fund Secure Save Builder Fund Secure Save Guarantee Fund Expenses ratio (%) 1.49 2.15 1.49 0.88 1.39 1.65 1.65 1.65 1.65 1.65 1.65 1.65 1.66 1.66 1.66 2.10 1.60 1.60 0.88 1.35 1.65 1.65 1.65 1.65 1.65 1.65 1.65 1.65 1.65 1.65 1.65 1.66 1.65 1.65 2.07 1.39 1.39 1.39 1.93 Gross income ratio (%) 13.67 7.02 8.89 7.54 6.40 5.74 5.72 5.91 6.28 5.30 5.72 5.83 8.66 10.61 15.66 9.86 10.38 6.10 7.43 6.16 6.05 6.07 5.92 6.07 5.15 5.71 5.88 8.64 3.79 11.93 6.73 15.90 9.98 10.90 9.89 5.72 5.56 8.97 7.86
Note: * denotes fund launched during the year. In these cases, the ratios have been annualised ^ Inflows commenced on March 31, 2011
Annualised expense ratio and gross income ratio (including unrealised gains) to average daily net assets of the fund for the year ended March 31, 2010
Scheme name Anmol Nivesh Fund* Balancer Fund Bluechip Fund* Cash Plus Fund Dynamic P/E Fund* Flexi Balanced Fund Flexi Growth Fund Group Balanced Fund Group Capital Guarantee Balanced Fund Group Capital Guarantee Debt Fund Group Capital Guarantee Growth Fund Group Capital Guarantee Short Term Debt Fund Group Debt Fund Group Growth Fund Group Leave Encashment Balance Fund Group Leave Encashment Income Fund Group Leave Encashment Short Term Fund Group Return Guarantee Fund Group Return Guarantee Fund II Group Return Guarantee Fund III* Group Short Term Debt Fund Health Balancer Fund Health Flexi Balanced Fund Health Flexi Growth Fund Health Multiplier Fund Health Preserver Fund Health Protector Fund Health Return Guarantee Fund Health Return Guarantee Fund II Health Return Guarantee Fund III Health Return Guarantee Fund IV Health Return Guarantee Fund V* Health Return Guarantee Fund VI* Health Return Guarantee Fund VII* Income Fund* Invest Shield Fund - Life Invest Shield Fund - Pension Maximiser Fund Money Market Fund* Multi Cap Balanced Fund* Multi Cap Growth Fund* Expenses ratio (%) 2.14 1.49 1.31 1.49 1.95 2.10 1.37 1.83 1.66 2.29 1.51 1.37 1.36 1.36 1.41 1.32 1.90 1.88 1.91 1.37 1.05 1.07 1.60 1.60 0.80 0.79 1.62 1.62 1.62 1.61 1.61 1.61 1.62 1.49 1.30 1.30 2.30 0.78 1.47 1.49 Gross income ratio (%) 6.34 30.03 33.45 9.29 43.09 30.77 46.41 18.16 13.88 13.31 36.51 8.03 9.54 34.92 18.32 6.34 9.16 11.64 9.74 10.20 8.00 23.63 31.36 45.25 47.58 7.01 9.03 12.31 12.21 11.89 10.99 8.98 8.76 7.12 9.24 21.11 22.10 54.28 5.02 19.80 26.54
191
financial Report
Scheme name Multiplier Fund New Invest Shield Balanced Fund Opportunities Fund* Pension Balancer Fund Pension Bluechip Fund* Pension Dynamic P/E Fund* Pension Flexi Balanced Fund Pension Flexi Growth Fund Pension Income Fund* Pension Maximiser Fund Pension Money Market Fund* Pension Multi Cap Balanced Fund* Pension Multi Cap Growth Fund* Pension Multiplier Fund Pension Opportunities Fund* Pension Preserver Fund Pension Protector Fund Pension Return Guarantee Fund Pension Return Guarantee Fund II Pension Return Guarantee Fund III Pension Return Guarantee Fund IV Pension Return Guarantee Fund V* Pension Return Guarantee Fund VI* Pension Return Guarantee Fund VII* Pension RICH Fund Pinnacle Fund* Preserver Fund Protector Fund Return Guarantee Fund Return Guarantee Fund II Return Guarantee Fund III Return Guarantee Fund IV Return Guarantee Fund V* Return Guarantee Fund VI* Return Guarantee Fund VII* RICH Fund Secure Plus Fund Secure Plus Pension Fund Secure Save Builder Fund* Secure Save Guarantee Fund*
Expenses ratio (%) 2.30 1.30 1.49 1.51 1.49 1.49 1.39 1.85 1.49 1.75 0.83 1.49 1.49 2.10 1.49 0.79 1.30 1.64 1.61 1.63 1.61 1.63 1.62 1.65 1.99 1.60 0.79 1.35 1.62 1.59 1.62 1.63 1.63 1.61 1.66 2.00 1.30 1.30 1.34 1.87
Gross income ratio (%) 44.97 24.04 36.22 23.97 37.89 38.79 27.39 47.17 8.56 53.22 4.81 19.06 30.33 42.38 39.76 7.03 8.66 12.11 11.77 11.66 10.62 9.27 8.78 7.60 42.74 16.87 7.76 9.55 11.96 11.86 11.62 10.52 9.38 8.84 7.75 42.06 9.32 9.24 16.01 12.30
Note: * denotes fund launched during the year. In these cases, the ratios have been annualised
8.
Provisions for doubtful debts on assets of the respective funds 2010-11: Nil 2009-10: Nil
9. Fund-wise disclosure of appreciation and/or depreciation in value of investments segregated asset class wise for the year ended March 31, 2011
(` 000)
Scheme name Anmol Nivesh Fund Balancer Fund Bluechip Fund Cash Plus Fund Discontinued Fund - Life Dynamic P/E Fund Flexi Balanced Fund Flexi Growth Fund Group Balanced Fund Group Capital Guarantee Balanced Fund Group Capital Guarantee Debt Fund Group Capital Guarantee Growth Fund Group Capital Guarantee Short Term Debt Fund Group Debt Fund Group Growth Fund Group Leave Encashment Balance Fund Group Leave Encashment Income Fund Group Leave Encashment Short Term Fund Group Return Guarantee Fund Group Return Guarantee Fund - A4 Group Return Guarantee Fund - S5 Group Return Guarantee Fund - S6 Group Return Guarantee Fund II Group Return Guarantee Fund III Group Short Term Debt fund Group Superannuation Corporate Bond Fund Equity (1,120,351) 10,188 60,746 (115,039) (1,399,826) (50,294) (11,065) 202 (159,852) (6,467) Government securities (4,729) (2,211) 121 2 239 2 (102) 1 4 Debentures and other securities 1 (228,792) 70 (75,666) 1,551 (11,713) 16,305 (90,449) (7,192) (698) (232) (8,668) (62,472) (21,542) (3,363) (129) 4 (55,487) 43 (2,344) (72,575) (10,010) 2,389 Total 1 (1,353,872) 10,258 (77,877) 62,419 (126,750) (1,383,521) (140,504) (18,254) (800) (31) (8,668) (62,471) (181,390) (9,830) (129) 4 (55,487) 43 (2,344) (72,575) (10,010) 2,389
192

Scheme name Health Balancer Fund Health Flexi Balanced Fund Health Flexi Growth Fund Health Multiplier Fund Health Preserver Fund Health Protector Fund Health Return Guarantee Fund Health Return Guarantee Fund II Health Return Guarantee Fund III Health Return Guarantee Fund IV Health Return Guarantee Fund V Health Return Guarantee Fund VI Health Return Guarantee Fund VII Health Return Guarantee Fund IX (5 Yrs) Highest NAV Fund B Income Fund Invest Shield Fund - Life Invest Shield Fund - Pension Maximiser Fund Money Market Fund Multi Cap Balanced Fund Multi Cap Growth Fund Multiplier Fund New Invest Shield Balanced Fund Opportunities Fund Pension Balancer Fund Pension Bluechip Fund Pension Dynamic P/E Fund Pension Flexi Balanced Fund Pension Flexi Growth Fund Pension Income Fund Pension Maximiser Fund Pension Money Market Fund Pension Multi Cap Balanced Fund Pension Multi Cap Growth Fund Pension Multiplier Fund Pension Opportunities Fund Pension Preserver Fund Pension Protector Fund Pension Return Guarantee Fund Pension Return Guarantee Fund II Pension Return Guarantee Fund III Pension Return Guarantee Fund IV Pension Return Guarantee Fund V Pension Return Guarantee Fund VI Pension Return Guarantee Fund VII Pension Return Guarantee Fund VIII Pension Return Guarantee Fund IX (10 Yrs) Pension Return Guarantee Fund X (10 Yrs) Pension RICH Fund Pinnacle Fund Pinnacle Fund II Preserver Fund Protector Fund Return Guarantee Fund Return Guarantee Fund II Return Guarantee Fund III Return Guarantee Fund IV Return Guarantee Fund V Return Guarantee Fund VI Return Guarantee Fund VII Return Guarantee Fund VIII (10 Yrs) Return Guarantee Fund VIII (5 Yrs) Return Guarantee Fund IX (10 Yrs) Return Guarantee Fund IX (5 Yrs) Return Guarantee Fund X (10 Yrs) Return Guarantee Fund X (5 Yrs) Return Guarantee Fund XI (5 Yrs) RICH Fund Secure Plus Fund Secure Plus Pension Fund Secure Save Builder Fund Secure Save Guarantee Fund Total Equity 287 322 4,761 2,836 17,979 (31,507) (3,750) (11,835,710) 1,365 31,337 322,439 (43,022) 11,132 (529,904) 33,060 32,309 (53,831) 609,144 (3,430,038) 18,771 336,374 (767,418) 111,266 (348,378) 211,314 12,269 (1,256,150) (600) (527) 1,010 2,211 (19,332,407) Government securities (33) 2 2 (156) (886) 2 (1) (4,449) 1,137 384 733 5,686 3,160 16 450 2,427 1,368 2,469 1 5,639 Debentures and other securities (156) (86) 16 4 (946) (476) (845) (875) (325) (143) (73) (57) 1,990 (14,022) (2,559) 30 59 (24) 1,342 6,116 (15,725) 124 (113,117) 104 2,148 (8,512) 14,180 (6,888) 7,815 89 (1,084) 4,698 1,378 119 (178,286) (74,535) (56,001) (46,204) (12,049) (7,863) (8,784) (15,156) (258) (15) (7) 8,919 845 324 (5,024) (240,395) (20,075) (16,947) (18,095) (7,747) (3,315) (2,667) (1,070) (445) (8,469) (6) (4,204) 193 4,479 282 10,159 (3,948) (1,592) (45) (352) (1,465,023) Total 131 237 4,761 2,852 4 (946) (476) (845) (875) (325) (143) (73) (57) 17,946 1,990 (45,527) (6,309) (11,835,680) 59 1,341 32,679 328,555 (58,744) 11,255 (643,177) 33,164 33,572 (62,341) 623,324 (6,889) (3,422,224) 89 17,687 341,072 (767,418) 112,644 119 (182,735) (74,535) (56,001) (46,204) (12,049) (7,863) (8,784) (15,156) 879 369 726 (339,459) 217,844 15,754 (5,007) (239,946) (20,075) (16,947) (18,095) (7,747) (3,315) (2,667) (1,070) 1,982 (8,469) 1,362 (4,204) 2,662 4,479 282 (1,245,991) (4,547) (2,119) 965 1,859 (20,791,789)
193
financial Report
Fund-wise disclosure of appreciation and/or depreciation in value of investments segregated asset class wise for the year ended March 31, 2010
Scheme name Balancer Fund Bluechip Fund Cash Plus Fund Dynamic P/E Fund Flexi Balanced Fund Flexi Growth Fund Group Balanced Fund Group Capital Guarantee Balanced Fund Group Capital Guarantee Debt Fund Group Capital Guarantee Growth Fund Group Capital Guarantee Short Term Debt Fund Group Debt Fund Group Growth Fund Group Leave Encashment Balance Fund Group Leave Encashment Income Fund Group Leave Encashment Short Term Fund Group Return Guarantee Fund Group Return Guarantee Fund II Group Return Guarantee Fund III Group Short Term Debt Fund Health Balancer Fund Health Flexi Balanced Fund Health Flexi Growth Fund Health Multiplier Fund Health Preserver Fund Health Protector Fund Health Return Guarantee Fund Health Return Guarantee Fund II Health Return Guarantee Fund III Health Return Guarantee Fund IV Health Return Guarantee Fund V Health Return Guarantee Fund VI Health Return Guarantee Fund VII Income Fund Invest Shield Fund - Life Invest Shield Fund - Pension Maximiser Fund Multi Cap Balanced Fund Multi Cap Growth Fund Multiplier Fund New Invest Shield Balanced Fund Opportunities Fund Pension Balancer Fund Pension Bluechip Fund Pension Dynamic P/E Fund Pension Flexi Balanced Fund Pension Flexi Growth Fund Pension Income Fund Pension Maximiser Fund Pension Multi Cap Balanced Fund Pension Multi Cap Growth Fund Pension Multiplier Fund Pension Opportunities Fund Pension Preserver Fund Pension Protector Fund Pension Return Guarantee Fund Pension Return Guarantee Fund II Pension Return Guarantee Fund III Pension Return Guarantee Fund IV Pension Return Guarantee Fund V Pension Return Guarantee Fund VI Pension Return Guarantee Fund VII Pension RICH Fund Pinnacle Fund Preserver Fund Protector Fund Return Guarantee Fund Return Guarantee Fund II Return Guarantee Fund III Return Guarantee Fund IV Return Guarantee Fund V Return Guarantee Fund VI Return Guarantee Fund VII RICH Fund Secure Plus Fund Secure Plus Pension Fund Secure Save Builder Fund Secure Save Guarantee Fund Total Equity 3,836,806 2,013 5,890 378,714 21,787,713 598,437 65,411 7,144 954,716 28,181 1,220 1,563 50,065 6,840 105,579 20,890 45,164,325 560 16,910 5,746,520 206,067 4,407 1,245,189 15,818 80,590 275,078 16,975,383 14,598,024 7,015 88,369 2,647,805 49,949 8,573,320 77,892 5,274,462 329 909 2,020 128,902,123 Government securities 86,450 18,111 3,860 30,150 2,607 11 155 12,441 6,903 1,342 1 2 2 14 4,511 897 2,440 5,154 34,296 2,819 42,893 842 (16) 70,126 1,028 441 327,480 Debentures and other securities 31,553 13,603 982 9,421 3,324 (153,232) 189 (12,517) 13,954 811 (115) (14) (53) 51,495 1,403 22,849 (16,774) 34 25 (3) 639 (7) 535 684 328 39 23 (11) 512 1,972 282 (3,279) 23 (2,420) 2,418 18,790 1,430 (1) 3,495 1,783 359 (3,175) 33,633 42,281 38,708 37,167 10,240 2,572 1,790 (663) (6,768) 60,282 10,719 11,139 14,197 4,183 786 531 (16) 151 220 (1) 27 252,532 Total
(` 000)
3,954,809 2,013 31,714 5,890 383,555 21,787,713 638,007 71,342 (153,221) 7,488 (12,517) 26,395 962,430 29,408 (13) (53) 51,495 1,403 22,849 (16,774) 1,255 1,590 50,065 6,840 (3) 653 (7) 535 684 328 39 23 (11) 512 112,063 22,069 45,163,486 583 16,910 5,744,100 213,640 4,407 1,298,275 15,818 80,590 279,327 16,975,383 3,495 14,599,807 7,374 88,369 2,647,805 49,949 (3,175) 76,526 42,281 38,708 37,167 10,240 2,572 1,790 (663) 8,573,320 78,734 (6,784) 130,408 10,719 11,139 14,197 4,183 786 531 (16) 5,274,462 1,508 660 907 2,048 129,482,134
194

10. Industry wise disclosure of investments (with exposure of 10% and above)
Anmol Nivesh Fund (as on March 31, 2011) Industry Banking services Banking services total Others Net current assets Grand Total Security name 10.25% Bank of Baroda 2012 10.30% Axis Bank Limited 2013 9.80% Bank of India 2011 9.02% Punjab National Bank 2011 10.02% Union Bank of India 2013 9.55% Oriental Bank of Commerce 2011 10.25% Corporation Bank 2012 8.23% Canara Bank 2011 9.85% State Bank of India 2013 IDBI Bank Limited 2012 10.35% Canara Bank 2012 9.70% Canara Bank 2011 Bank of India 2011 HDFC Bank Limited 2011 State Bank of Travancore 2011 Oriental Bank of Commerce 2011 Corporation Bank 2012 Punjab National Bank 2012 State Bank of Hyderabad 2011 9.95% Axis Bank Limited 2012 9.87% Axis Bank Limited 2012 ICICI Bank Limited 2011 Central Bank of India 2011 Axis Bank Limited 2012 State Bank of Hyderabad 2012 ICICI Bank Limited 2012 Asset type FD FD FD FD FD FD FD FD FD CD FD FD CD CD CD CD CD CD CD FD FD CD CD CD CD CD Market value (` 000) 215 174 173 157 153 150 115 105 98 66 56 48 40 38 33 33 18 18 17 16 16 15 10 9 9 5 1,787 551 50 2,388 % of assets held 8.99% 7.28% 7.26% 6.59% 6.42% 6.28% 4.82% 4.45% 4.09% 2.78% 2.33% 2.02% 1.69% 1.60% 1.38% 1.37% 0.74% 0.74% 0.71% 0.66% 0.65% 0.61% 0.41% 0.39% 0.37% 0.19% 74.81% 23.08% 2.10% 100.00%
Anmol Nivesh Fund (as on March 31, 2010) Industry Banking services Security name 9.5% Oriental Bank of Commerce 2013 9.5% Canara Bank 2013 9.5% State Bank of India 2013 7.25% State Bank of Indore 2010 Allahabad Bank 2010 State Bank of Patiala 2010 Bank of India 2011 Union Bank of India 2010 10% Sundaram Finance Limited 2010 Kotak Mahindra Prime Limited 2010 Asset type FD FD FD FD CD CD CD CD NCD CP Market value (` 000) 15 14 12 11 10 10 8 1 81 14 5 19 48 23 171 % of assets held 8.77% 8.19% 7.02% 6.43% 5.85% 5.85% 4.68% 0.58% 47.37% 8.19% 2.92% 11.11% 28.07% 13.45% 100.00%
Banking services total Non-banking financial company Non-banking financial company total Others Net current assets Grand Total
Balancer Fund (as on March 31, 2011) Industry Banking services Security name 9.85% State Bank of India 2013 HDFC Bank Limited 10.35% Canara Bank 2012 9.70% Canara Bank 2011 Bank of India 2012 9.85% Bank of India 2011 Punjab National Bank 2012 Bank of India 2011 Corporation Bank 2012 9.95% State Bank of India 2021 9.80% Bank of India 2011 9.58% Bank of India 2011 9.70% Canara Bank 2012 State Bank of Hyderabad 2011 Syndicate Bank 2011 Axis Bank Limited 10.30% Canara Bank 2013 9.95% Axis Bank Limited 2012 9.87% Axis Bank Limited 2012 10.02% Union Bank of India 2013 9.25% IDBI Bank Limited 2014 10.30% Axis Bank Limited 2013 9.78% State Bank of Patiala 2011 Asset type FD Equity FD FD CD FD CD CD CD NCD FD FD FD CD CD Equity FD FD FD FD NCD FD FD Market value (` 000) 729,347 689,675 317,809 308,216 295,191 261,078 242,027 203,402 182,336 159,699 135,832 132,624 132,137 125,799 123,949 123,010 122,782 113,979 112,011 109,719 105,575 103,619 101,449 % of assets held 3.60% 3.40% 1.57% 1.52% 1.46% 1.29% 1.19% 1.00% 0.90% 0.79% 0.67% 0.65% 0.65% 0.62% 0.61% 0.61% 0.61% 0.56% 0.55% 0.54% 0.52% 0.51% 0.50%
195
financial Report
Balancer Fund (as on March 31, 2011) Industry Banking services total Others Net current assets Grand Total Security name 10.03% Bank of India 2012 Bank of Baroda 2011 State Bank of Bikaner & Jaipur 2011 State Bank of Patiala 2011 Corporation Bank 2011 9.00% State Bank of India 2011 9.45% Punjab National Bank 2011 9.55% Oriental Bank of Commerce 2011 Oriental Bank of Commerce 9.02% Punjab National Bank 2011 Union Bank of India 2011 State Bank of Travancore 2011 State Bank of India 2012 State Bank of Mysore 2011 Andhra Bank 2011 Punjab National Bank Central Bank of India 2011 Bank of Baroda 2012 State Bank of Hyderabad 2012 8.47% IDBI Bank Limited 2011 Canara Bank 2011 IDBI Bank Limited 2011 Oriental Bank of Commerce 2011 8.98% State Bank of Patiala 2011 Federal Bank Limited 2011 Indian Overseas Bank 2011 Indian Bank 2011 Axis Bank Limited 2012 State Bank of Bikaner & Jaipur 2012 ICICI Bank Limited 2012 10.31% Union Bank of India 2012 10.10% Axis Bank Limited 2017 Union Bank of India 9.10% HDFC Bank Limited 2016 11.35% IDBI Bank Limited 2013 Asset type FD CD CD CD CD FD FD FD Equity FD CD CD CD CD CD Equity CD CD CD NCD CD CD CD FD CD CD CD CD CD CD FD NCD Equity NCD NCD Market value (` 000) 100,052 94,864 92,511 70,187 70,165 66,960 66,441 66,441 66,381 66,039 61,497 60,207 58,331 56,556 55,426 55,181 53,119 53,027 51,390 42,032 37,738 37,482 34,712 33,147 31,827 30,972 30,962 30,398 24,908 24,658 14,342 11,862 10,418 4,914 177 6,596,589 13,347,770 341,327 20,285,686 % of assets held 0.49% 0.47% 0.46% 0.35% 0.35% 0.33% 0.33% 0.33% 0.33% 0.33% 0.30% 0.30% 0.29% 0.28% 0.27% 0.27% 0.26% 0.26% 0.25% 0.21% 0.19% 0.18% 0.17% 0.16% 0.16% 0.15% 0.15% 0.15% 0.12% 0.12% 0.07% 0.06% 0.05% 0.02% 0.00% 32.52% 65.80% 1.68% 100.00%
Balancer Fund (as on March 31, 2010) Industry Banking services Security name HDFC Bank Limited ICICI Bank Limited 2010 Axis Bank Limited Oriental Bank of Commerce 2010 9.25% IDBI Bank Limited 2014 7% Canara Bank 2011 Bank of India 2011 HDFC Bank Limited 2011 6.99% Union Bank of India 2011 Oriental Bank of Commerce 2011 Punjab National Bank 10.1% Axis Bank Limited 2017 Corporation Bank 2011 State Bank of Patiala 2010 Oriental Bank of Commerce Bank of Baroda 2011 Axis Bank Limited 2010 8.47% IDBI Bank Limited 2013 Union Bank of India 2010 9.8% ICICI Bank Limited 2013 United Bank of India 2010 Yes Bank Limited 2011 9.1% HDFC Bank Limited 2016 11.35% IDBI Bank Limited 2013 10.9% Rural Electrification Corporation Limited 2013 10% Infrastructure Development Finance Company Limited 2013 7.9% Rural Electrification Corporation Limited 2012 11.4% Power Finance Corporation Limited 2013 9% Infrastructure Development Finance Company Limited 2010 8.6% Infrastructure Development Finance Company Limited 2011 Power Finance Corporation Limited 2010 8.46% Indian Railway Finance Corporation Limited 2014 9.45% Rural Electrification Corporation Limited 2013 NCD NCD NCD NCD NCD NCD PTC NCD NCD Asset type Equity CD Equity CD NCD FD CD CD FD CD Equity NCD CD CD Equity CD CD NCD CD NCD CD CD NCD NCD Market value (` 000) 777,012 678,477 605,583 525,185 400,415 362,082 315,132 266,305 138,336 132,633 111,912 90,214 89,252 71,403 65,795 61,380 60,262 42,781 40,927 22,320 22,021 2,441 2,018 187 4,884,073 325,084 244,167 239,616 239,049 189,320 185,727 174,531 171,642 153,966 % of assets held 3.38% 2.96% 2.64% 2.29% 1.74% 1.58% 1.37% 1.16% 0.60% 0.58% 0.49% 0.39% 0.39% 0.31% 0.29% 0.27% 0.26% 0.19% 0.18% 0.10% 0.10% 0.01% 0.01% 0.00% 21.27% 1.42% 1.06% 1.04% 1.04% 0.82% 0.81% 0.76% 0.75% 0.67%
Banking services total Financial institutions
196

Balancer Fund (as on March 31, 2010) Industry Security name 9.03% Power Finance Corporation Limited 2013 7.15% Rural Electrification Corporation Limited 2012 9.4% Power Finance Corporation Limited 2013 9.76% Indian Railway Finance Corporation Limited 2012 8.5% Export-Import Bank of India 2011 9.8% Power Finance Corporation Limited 2012 11.5% Rural Electrification Corporation Limited 2013 11.1% Power Finance Corporation Limited 2013 9.05% Infrastructure Development Finance Company Limited 2010 6.42% National Housing Bank 2012 6.55% National Housing Bank 2012 Power Finance Corporation Limited 0% Infrastructure Development Finance Company Limited 2011 NABARD 2010 8.4% Indian Railway Finance Corporation Limited 2013 6.9% National Housing Bank 2012 9.5% Export-Import Bank of India 2013 10.75% Power Finance Corporation Limited 2011 9.68% Indian Railway Finance Corporation Limited 2012 Power Finance Corporation Limited 2019 8.78% Power Finance Corporation Limited 2016 Rural Electrification Corporation Limited 8.75% Indian Railway Finance Corporation Limited 2013 10.6% Indian Railway Finance Corporation Limited 2018 9.4% NABARD 2011 8.94% Power Finance Corporation Limited 2013 8.88% Infrastructure Development Finance Company Limited 2011 8.55% Power Finance Corporation Limited 2011 9.25% Export-Import Bank of India 2012 8.45% Power Finance Corporation Limited 2014 8.5% Power Finance Corporation Limited 2014 8.83% Indian Railway Finance Corporation Limited 2012 9.5% NABARD 2012 11.4% Infrastructure Development Finance Company Limited 2013 7.75% Rural Electrification Corporation Limited 2012 8.57% Indian Railway Finance Corporation Limited 2016 10.04% Indian Railway Finance Corporation Limited 2027 9.68% Power Finance Corporation Limited 2018 Financial institutions total Refinery 7.73% Bharat Petroleum Corporation Limited 2012 11.45% Reliance Industries Limited 2013 Reliance Industries Limited 7% Indian Oil Corporation Limited 2012 Hindustan Petroleum Corporation Limited Bharat Petroleum Corporation Limited 10.1% Reliance Industries Limited 2011 7.35% Hindustan Petroleum Corporation Limited 2012 10.9% Reliance Gas Transportation Infrastructure Limited 2014 Asset type NCD NCD NCD NCB NCB NCD NCD NCD NCD NCD NCD Equity ZCB CP NCD NCD NCD NCD NCD FRN NCD Equity NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCB NCD NCD NCD Equity NCD Equity Equity NCD NCD NCD Market value (` 000) 151,375 150,136 134,168 116,344 109,245 107,416 102,653 98,755 94,920 93,563 90,925 82,543 80,236 73,680 71,973 63,873 62,741 61,467 57,673 50,747 47,496 47,358 47,342 38,412 35,115 33,917 24,490 20,061 19,710 19,609 17,849 17,198 16,736 11,050 10,059 7,840 3,352 1,891 4,197,020 873,155 689,079 621,335 312,724 100,293 70,714 55,494 51,769 216 2,774,779 10,712,822 389,304 22,957,998 % of assets held 0.66% 0.65% 0.58% 0.51% 0.48% 0.47% 0.45% 0.43% 0.41% 0.41% 0.40% 0.36% 0.35% 0.32% 0.31% 0.28% 0.27% 0.27% 0.25% 0.22% 0.21% 0.21% 0.21% 0.17% 0.15% 0.15% 0.11% 0.09% 0.09% 0.09% 0.08% 0.07% 0.07% 0.05% 0.04% 0.03% 0.01% 0.01% 18.28% 3.80% 3.00% 2.71% 1.36% 0.44% 0.31% 0.24% 0.23% 0.00% 12.09% 46.66% 1.70% 100.00%
Refinery total Others Net current assets Grand Total
Bluechip Fund (as on March 31, 2011) Industry Banking services Banking services total Computer software Computer software total Others Net current assets Grand Total Security name HDFC Bank Limited Punjab National Bank Bank of Baroda Kotak Mahindra Bank Limited Allahabad Bank Axis Bank Limited State Bank of India Jammu & Kashmir Bank Limited Canara Bank Bank of India Infosys Technologies Limited Tata Consultancy Services Limited HCL Technologies Limited Wipro Limited Asset type Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Market value (` 000) 25,858 20,627 19,558 14,148 13,778 13,358 8,409 2,622 2,618 1,293 122,269 48,111 27,547 11,267 2,539 89,464 324,353 14,665 550,751 % of assets held 4.70% 3.75% 3.55% 2.57% 2.50% 2.43% 1.53% 0.48% 0.48% 0.23% 22.20% 8.74% 5.00% 2.05% 0.46% 16.24% 58.89% 2.66% 100.00%
197
financial Report
Bluechip Fund (as on March 31, 2010) Industry Banking services HDFC Bank Limited State Bank of India Axis Bank Limited Punjab National Bank Bank of Baroda Infosys Technologies Limited Tata Consultancy Services Limited Wipro Limited HCL Technologies Limited Security name Asset type Equity Equity Equity Equity Equity Equity Equity Equity Equity Market value (` 000) 4,455 3,502 1,863 885 6 10,711 6,535 2,559 1,389 499 10,982 69,652 (1,720) 89,625 % of assets held 4.97% 3.91% 2.08% 0.99% 0.01% 11.95% 7.29% 2.86% 1.55% 0.56% 12.25% 77.71% (1.92%) 100.00%
Banking services total Computer software
Computer software total Others Net current assets Grand Total
Cash Plus Fund (as on March 31, 2011) Industry Banking services Banking services total Others Net current assets Grand Total Security name 9.85% State Bank of India 2013 Corporation Bank 2012 10.35% Canara Bank 2012 Corporation Bank 2011 9.70% Canara Bank 2011 Bank of India 2011 9.85% Bank of India 2011 Punjab National Bank 2012 State Bank of Hyderabad 2011 Oriental Bank of Commerce 2011 Bank of Baroda 2011 Central Bank of India 2011 Bank of India 2012 9.95% State Bank of India 2021 8.25% Canara Bank 2011 9.80% Bank of India 2011 9.70% Canara Bank 2012 9.58% Bank of India 2011 10.30% Canara Bank 2013 ICICI Bank Limited 2011 Indian Bank 2011 Syndicate Bank 2011 10.30% Axis Bank Limited 2013 10.30% IDBI Bank Limited 2012 10.02% Union Bank of India 2013 9.95% Axis Bank Limited 2012 9.87% Axis Bank Limited 2012 10.03% Bank of India 2012 Axis Bank Limited 2011 State Bank of Patiala 2012 9.78% State Bank of Patiala 2011 Bank of Baroda 2012 State Bank of Bikaner & Jaipur 2011 10.31% Union Bank of India 2012 Union Bank of India 2011 9.80% Bank of India 2012 State Bank of Mysore 2011 Andhra Bank 2011 8.10% State Bank of Patiala 2011 9.45% Punjab National Bank 2011 9.55% Oriental Bank of Commerce 2011 9.00% State Bank of India 2011 9.02% Punjab National Bank 2011 State Bank of Patiala 2011 State Bank of Travancore 2011 State Bank of India 2011 State Bank of India 2012 State Bank of Hyderabad 2012 IDBI Bank Limited 2012 State Bank of Bikaner & Jaipur 2012 Canara Bank 2011 8.98% State Bank of Patiala 2011 Federal Bank Limited 2011 Indian Overseas Bank 2011 Axis Bank Limited 2012 ICICI Bank Limited 2012 8.47% IDBI Bank Limited 2011 Asset type FD CD FD CD FD CD FD CD CD CD CD CD CD NCD FD FD FD FD FD CD CD CD FD NCD FD FD FD FD CD CD FD CD CD FD CD FD CD CD FD FD FD FD FD CD CD CD CD CD CD CD CD FD CD CD CD CD NCD Market value (` 000) 323,380 221,858 149,274 139,575 135,432 134,848 116,480 115,741 113,477 95,318 89,704 82,308 81,286 75,793 58,581 58,228 58,121 58,036 57,218 56,917 56,895 54,480 51,046 50,849 50,550 49,950 49,881 48,197 47,346 46,798 43,629 42,475 40,640 37,497 34,943 33,434 30,692 30,078 29,283 29,002 29,002 28,875 28,820 28,706 28,633 28,376 27,083 23,567 20,753 16,202 15,002 14,464 14,173 13,613 13,539 11,719 7,515 3,429,282 2,482,884 135,679 6,047,845 % of assets held 5.35% 3.67% 2.47% 2.31% 2.24% 2.23% 1.93% 1.91% 1.88% 1.58% 1.48% 1.36% 1.34% 1.25% 0.97% 0.96% 0.96% 0.96% 0.95% 0.94% 0.94% 0.90% 0.84% 0.84% 0.84% 0.83% 0.82% 0.80% 0.78% 0.77% 0.72% 0.70% 0.67% 0.62% 0.58% 0.55% 0.51% 0.50% 0.48% 0.48% 0.48% 0.48% 0.48% 0.47% 0.47% 0.47% 0.45% 0.39% 0.34% 0.27% 0.25% 0.24% 0.23% 0.23% 0.22% 0.19% 0.12% 56.70% 41.05% 2.24% 100.00%
198

Cash Plus Fund (as on March 31, 2010) Industry Banking services Security name Union Bank of India 2010 7.05% Canara Bank 2011 Bank of India 2011 ICICI Bank Limited 2010 7% Canara Bank 2011 9.25% IDBI Bank Limited 2014 HDFC Bank Limited 2011 Oriental Bank of Commerce 2010 10.3% IDBI Bank Limited 2012 7.25% State Bank of Indore 2010 Allahabad Bank 2010 6.99% Union Bank of India 2011 Bank of Baroda 2011 Oriental Bank of Commerce 2011 State Bank of Patiala 2010 Axis Bank Limited 2010 Corporation Bank 2011 9.8% ICICI Bank Limited 2013 United Bank of India 2010 Yes Bank Limited 2011 Central Bank of India 2010 8.47% IDBI Bank Limited 2013 7.9% Rural Electrification Corporation Limited 2012 8.88% Infrastructure Development Finance Company Limited 2011 6.55% National Housing Bank 2012 10.9% Rural Electrification Corporation Limited 2013 11.4% Power Finance Corporation Limited 2013 8.6% Infrastructure Development Finance Company Limited 2011 8.95% Infrastructure Development Finance Company Limited 2013 8.46% Indian Railway Finance Corporation Limited 2014 7.15% Rural Electrification Corporation Limited 2012 11.1% Power Finance Corporation Limited 2013 9.05% Infrastructure Development Finance Company Limited 2010 9.8% Power Finance Corporation Limited 2012 Power Finance Corporation Limited 2010 6.42% National Housing Bank 2012 7.75% Rural Electrification Corporation Limited 2012 11.5% Rural Electrification Corporation Limited 2013 9.76% Indian Railway Finance Corporation Limited 2012 9.4% Power Finance Corporation Limited 2013 10.75% Power Finance Corporation Limited 2011 8.4% Indian Railway Finance Corporation Limited 2013 9.68% Indian Railway Finance Corporation Limited 2012 6.9% National Housing Bank 2012 9.45% Rural Electrification Corporation Limited 2013 9.5% Export-Import Bank of India 2013 9.03% Power Finance Corporation Limited 2013 Power Finance Corporation Limited 2019 0% Infrastructure Development Finance Company Limited 2011 9% Infrastructure Development Finance Company Limited 2010 8.75% Indian Railway Finance Corporation Limited 2013 8.94% Power Finance Corporation Limited 2013 8.55% Power Finance Corporation Limited 2011 8.45% Power Finance Corporation Limited 2014 8.5% Power Finance Corporation Limited 2014 10.75% Rural Electrification Corporation Limited 2013 8.5% Export-Import Bank of India 2011 8.83% Indian Railway Finance Corporation Limited 2012 7.73% Bharat Petroleum Corporation Limited 2012 11.45% Reliance Industries Limited 2013 7% Indian Oil Corporation Limited 2012 10.1% Reliance Industries Limited 2011 7.35% Hindustan Petroleum Corporation Limited 2012 Asset type CD FD CD CD FD NCD CD CD NCD FD CD FD CD CD CD CD CD NCD CD CD CD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD PTC NCD NCD NCD NCB NCD NCD NCD NCD NCD NCD NCD NCD FRN ZCB NCD NCD NCD NCD NCD NCD NCD NCB NCD NCD NCD NCD NCD NCD Market value (` 000) 182,552 159,298 147,898 146,110 118,071 115,805 86,820 81,281 53,478 48,000 46,315 45,759 44,052 43,116 41,951 34,982 28,725 25,334 22,797 21,948 19,782 7,650 1,521,724 123,447 87,099 73,685 69,845 64,263 63,440 51,529 49,312 44,722 39,473 34,070 31,786 30,800 30,503 27,996 27,007 21,174 18,986 18,794 18,754 18,580 18,533 17,408 15,982 15,621 15,217 14,408 13,029 12,799 9,433 6,134 5,986 5,778 4,762 4,089 2,349 1,106,793 259,008 185,243 96,850 25,836 15,213 582,150 1,624,204 125,498 4,960,369 % of assets held 3.68% 3.21% 2.98% 2.95% 2.38% 2.33% 1.75% 1.64% 1.08% 0.97% 0.93% 0.92% 0.89% 0.87% 0.85% 0.71% 0.58% 0.51% 0.46% 0.44% 0.40% 0.15% 30.68% 2.49% 1.76% 1.49% 1.41% 1.30% 1.28% 1.04% 0.99% 0.90% 0.80% 0.69% 0.64% 0.62% 0.61% 0.56% 0.54% 0.43% 0.38% 0.38% 0.38% 0.37% 0.37% 0.35% 0.32% 0.31% 0.31% 0.29% 0.26% 0.26% 0.19% 0.12% 0.12% 0.12% 0.10% 0.08% 0.05% 22.31% 5.22% 3.73% 1.95% 0.52% 0.31% 11.74% 32.74% 2.53% 100.00%
Financial institutions total Refinery
Discontinued Fund - Life (as on March 31, 2011) Industry Others Net current assets Grand Total Security name Asset type Market value (` 000) 241 (103) 138 % of assets held 174.84% (74.84%) 100.00%
199
financial Report
Dynamic P/E Fund (as on March 31, 2011) Industry Banking services Banking services total Computer software Computer software total Others Net current assets Grand Total Security name HDFC Bank Limited State Bank of India Axis Bank Limited Punjab National Bank Kotak Mahindra Bank Limited Infosys Technologies Limited Tata Consultancy Services Limited Wipro Limited HCL Technologies Limited Asset type Equity Equity Equity Equity Equity Equity Equity Equity Equity Market value (` 000) 597,035 508,420 254,153 121,989 95,640 1,577,237 763,812 285,348 118,535 55,937 1,223,632 5,947,685 256,585 9,005,139 % of assets held 6.63% 5.65% 2.82% 1.35% 1.06% 17.51% 8.48% 3.17% 1.32% 0.62% 13.59% 66.05% 2.85% 100.00%
Dynamic P/E Fund (as on March 31, 2010) Industry Banking services HDFC Bank Limited State Bank of India Axis Bank Limited Punjab National Bank Infosys Technologies Limited Tata Consultancy Services Limited Wipro Limited HCL Technologies Limited Equity Equity Equity Equity Security name Asset type Equity Equity Equity Equity Market value (` 000) 13,942 11,108 5,980 2,796 33,826 15,858 4,940 2,654 957 24,409 133,616 20,584 212,435 % of assets held 6.56% 5.23% 2.81% 1.32% 15.92% 7.46% 2.33% 1.25% 0.45% 11.49% 62.90% 9.69% 100.00%
Flexi Balanced Fund (as on March 31, 2011) Industry Banking services Security name HDFC Bank Limited 9.85% State Bank of India 2013 Bank of India 2011 State Bank of India 9.70% Canara Bank 2011 Punjab National Bank 2012 10.35% Canara Bank 2012 Corporation Bank 2012 Bank of Baroda 2011 9.85% Bank of India 2011 Axis Bank Limited Bank of India 2012 Oriental Bank of Commerce 2011 Corporation Bank 2011 Bank of Baroda 2012 Central Bank of India 2011 Bank of Baroda State Bank of Hyderabad 2011 9.95% State Bank of India 2021 10.31% Union Bank of India 2012 State Bank of Mysore 2011 Andhra Bank 2011 9.58% Bank of India 2011 9.70% Canara Bank 2012 9.80% Bank of India 2011 8.25% Canara Bank 2011 ICICI Bank Limited 2011 Syndicate Bank 2011 10.30% Canara Bank 2013 9.87% Axis Bank Limited 2012 Punjab National Bank 10.30% IDBI Bank Limited 2012 9.95% Axis Bank Limited 2012 10.02% Union Bank of India 2013 10.30% Axis Bank Limited 2013 10.03% Bank of India 2012 9.78% State Bank of Patiala 2011 State Bank of Bikaner & Jaipur 2011 9.80% Bank of India 2012 State Bank of India 2011 9.45% Punjab National Bank 2011 9.55% Oriental Bank of Commerce 2011 Asset type Equity FD CD Equity FD CD FD CD CD FD Equity CD CD CD CD CD Equity CD NCD FD CD CD FD FD FD FD CD CD FD FD Equity NCD FD FD FD FD FD CD FD CD FD FD Market value (` 000) 96,102 66,707 54,533 47,295 28,849 28,765 28,283 27,284 24,452 24,452 22,720 17,791 17,215 17,119 17,105 16,594 15,920 15,913 14,140 13,928 13,023 12,763 12,400 12,380 12,268 12,109 11,736 11,621 10,831 10,774 10,672 10,336 10,283 10,004 9,935 9,538 9,216 8,568 7,024 6,251 6,113 6,113 % of assets held 3.60% 2.50% 2.04% 1.77% 1.08% 1.08% 1.06% 1.02% 0.92% 0.92% 0.85% 0.67% 0.65% 0.64% 0.64% 0.62% 0.60% 0.60% 0.53% 0.52% 0.49% 0.48% 0.46% 0.46% 0.46% 0.45% 0.44% 0.44% 0.41% 0.40% 0.40% 0.39% 0.39% 0.38% 0.37% 0.36% 0.35% 0.32% 0.26% 0.23% 0.23% 0.23%
200

Flexi Balanced Fund (as on March 31, 2011) Industry Banking services total Others Net current assets Grand Total Security name 8.10% State Bank of Patiala 2011 State Bank of Bikaner & Jaipur 2012 State Bank of Patiala 2011 State Bank of Travancore 2011 9.00% State Bank of India 2011 9.02% Punjab National Bank 2011 Union Bank of India 2011 State Bank of India 2012 State Bank of Hyderabad 2012 Canara Bank 2011 Union Bank of India 10.10% Axis Bank Limited 2017 Federal Bank Limited 2011 8.98% State Bank of Patiala 2011 Indian Overseas Bank 2011 Axis Bank Limited 2012 Indian Bank 2011 ICICI Bank Limited 2012 8.47% IDBI Bank Limited 2011 Asset type FD CD CD CD FD FD CD CD CD CD Equity NCD CD FD CD CD CD CD NCD Market value (` 000) 6,054 6,021 6,008 5,981 5,911 5,910 5,340 5,313 4,483 4,425 4,063 3,591 3,039 2,964 2,904 2,903 2,901 2,298 1,515 900,749 1,740,030 26,812 2,667,591 % of assets held 0.23% 0.23% 0.23% 0.22% 0.22% 0.22% 0.20% 0.20% 0.17% 0.17% 0.15% 0.13% 0.11% 0.11% 0.11% 0.11% 0.11% 0.09% 0.06% 33.77% 65.23% 1.01% 100.00%
Flexi Balanced Fund (as on March 31, 2010) Industry Banking services Security name HDFC Bank Limited ICICI Bank Limited 2010 Axis Bank Limited 2010 Axis Bank Limited Bank of India 2011 7.05% Canara Bank 2011 Allahabad Bank 2010 Bank of Baroda 2011 Oriental Bank of Commerce 2010 7% Canara Bank 2011 9.25% IDBI Bank Limited 2014 HDFC Bank Limited 2011 Bank of Baroda United Bank of India 2010 Yes Bank Limited 2011 10.3% IDBI Bank Limited 2012 6.99% Union Bank of India 2011 Oriental Bank of Commerce 2011 State Bank of Patiala 2010 Union Bank of India 2010 Corporation Bank 2011 State Bank of India Union Bank of India 10.1% Axis Bank Limited 2017 8.47% IDBI Bank Limited 2013 9.8% ICICI Bank Limited 2013 NABARD 2010 7.9% Rural Electrification Corporation Limited 2012 10.9% Rural Electrification Corporation Limited 2013 11.4% Power Finance Corporation Limited 2013 Rural Electrification Corporation Limited 9% Infrastructure Development Finance Company Limited 2010 8.46% Indian Railway Finance Corporation Limited 2014 7.15% Rural Electrification Corporation Limited 2012 11.1% Power Finance Corporation Limited 2013 9.05% Infrastructure Development Finance Company Limited 2010 6.55% National Housing Bank 2012 0% Infrastructure Development Finance Company Limited 2011 9.8% Power Finance Corporation Limited 2012 6.42% National Housing Bank 2012 11.5% Rural Electrification Corporation Limited 2013 9.4% Power Finance Corporation Limited 2013 9.76% Indian Railway Finance Corporation Limited 2012 9.68% Indian Railway Finance Corporation Limited 2012 10.75% Power Finance Corporation Limited 2011 6.9% National Housing Bank 2012 8.4% Indian Railway Finance Corporation Limited 2013 Power Finance Corporation Limited 2019 9.5% Export-Import Bank of India 2013 9.03% Power Finance Corporation Limited 2013 8.5% Power Finance Corporation Limited 2014 Asset type Equity CD CD Equity CD FD CD CD CD FD NCD CD Equity CD CD NCD FD CD CD CD CD Equity Equity NCD NCD NCD CP NCD NCD NCD Equity NCD NCD NCD NCD NCD NCD ZCB NCD NCD NCD NCD NCB NCD NCD NCD NCD FRN NCD NCD NCD Market value (` 000) 95,780 68,837 52,205 48,814 46,778 39,453 31,499 29,960 27,983 25,401 25,273 19,088 17,255 15,504 11,643 10,871 9,946 9,350 9,055 8,281 6,303 4,782 3,800 3,695 1,542 1,077 624,175 98,240 15,333 14,029 13,431 11,051 10,807 10,609 10,053 8,373 8,298 8,209 7,818 7,115 6,706 5,107 4,513 4,404 4,398 4,252 3,990 3,872 3,388 3,284 3,277 3,201 % of assets held 3.69% 2.65% 2.01% 1.88% 1.80% 1.52% 1.21% 1.15% 1.08% 0.98% 0.97% 0.73% 0.66% 0.60% 0.45% 0.42% 0.38% 0.36% 0.35% 0.32% 0.24% 0.18% 0.15% 0.14% 0.06% 0.04% 24.02% 3.78% 0.59% 0.54% 0.52% 0.43% 0.42% 0.41% 0.39% 0.32% 0.32% 0.32% 0.30% 0.27% 0.26% 0.20% 0.17% 0.17% 0.17% 0.16% 0.15% 0.15% 0.13% 0.13% 0.13% 0.12%
201
financial Report
Flexi Balanced Fund (as on March 31, 2010) Industry Security name 8.75% Indian Railway Finance Corporation Limited 2013 8.6% Infrastructure Development Finance Company Limited 2011 8.94% Power Finance Corporation Limited 2013 9.45% Rural Electrification Corporation Limited 2013 8.55% Power Finance Corporation Limited 2011 8.45% Power Finance Corporation Limited 2014 7.75% Rural Electrification Corporation Limited 2012 8.88% Infrastructure Development Finance Company Limited 2011 8.83% Indian Railway Finance Corporation Limited 2012 Financial institutions total Others Net current assets Grand Total Asset type NCD NCD NCD NCD NCD NCD NCD NCD NCD Market value (` 000) 2,657 2,290 2,073 1,957 1,388 1,361 1,339 1,223 472 288,518 1,649,998 35,637 2,598,328 % of assets held 0.10% 0.09% 0.08% 0.08% 0.05% 0.05% 0.05% 0.05% 0.02% 11.10% 63.50% 1.37% 100.00%
Flexi Growth Fund (as on March 31, 2011) Industry Banking services Banking services total Computer software Computer software total Others Net current assets Grand Total Security name HDFC Bank Limited Axis Bank Limited Bank of Baroda Punjab National Bank State Bank of India Kotak Mahindra Bank Limited State Bank of Bikaner & Jaipur 2011 Punjab National Bank 2012 Allahabad Bank Central Bank of India 2011 Axis Bank Limited 2011 Infosys Technologies Limited Tata Consultancy Services Limited Wipro Limited Mphasis Limited Infotech Enterprises Limited Onmobile Global Limited Equity Equity Equity Equity Equity Equity Asset type Equity Equity Equity Equity Equity Equity CD CD Equity CD CD Market value (` 000) 4,741,791 3,414,758 1,165,475 749,763 647,871 587,233 431,191 351,112 114,645 89,820 20,928 12,314,588 4,164,746 2,755,509 1,308,704 887,849 464,336 321,634 9,902,777 43,118,638 581,828 65,917,831 % of assets held 7.19% 5.18% 1.77% 1.14% 0.98% 0.89% 0.65% 0.53% 0.17% 0.14% 0.03% 18.68% 6.32% 4.18% 1.99% 1.35% 0.70% 0.49% 15.02% 65.41% 0.88% 100.00%
Flexi Growth Fund (as on March 31, 2010) Industry Banking services Security name HDFC Bank Limited Axis Bank Limited 6.95% State Bank of Patiala 2011 State Bank of India Punjab National Bank Bank of Baroda Oriental Bank of Commerce 2010 Punjab National Bank 2010 Oriental Bank of Commerce Asset type Equity Equity FD Equity Equity Equity CD CD Equity Market value (` 000) 5,364,386 2,974,860 1,500,000 948,973 891,624 854,086 482,591 407,896 97,890 13,522,306 56,768,882 444,464 70,735,652 % of assets held 7.58% 4.21% 2.12% 1.34% 1.26% 1.21% 0.68% 0.58% 0.14% 19.12% 80.25% 0.63% 100.00%
Banking services total Others Net current assets Grand Total
Group Balanced Fund (as on March 31, 2011) Industry Banking services Security name 9.85% State Bank of India 2013 Corporation Bank 2012 Bank of India 2011 10.35% Canara Bank 2012 Axis Bank Limited 2011 9.70% Canara Bank 2011 9.85% Bank of India 2011 Punjab National Bank 2012 HDFC Bank Limited HDFC Bank Limited 2011 Corporation Bank 2011 Central Bank of India 2011 Bank of India 2012 Oriental Bank of Commerce 2011 Bank of Baroda 2011 Asset type FD CD CD FD CD FD FD CD Equity CD CD CD CD CD CD Market value (` 000) 734,899 486,911 361,584 344,680 343,676 306,794 263,631 250,590 242,681 218,287 201,664 192,615 186,193 185,732 178,767 % of assets held 4.52% 3.00% 2.22% 2.12% 2.11% 1.89% 1.62% 1.54% 1.49% 1.34% 1.24% 1.18% 1.15% 1.14% 1.10%
202

Group Balanced Fund (as on March 31, 2011) Industry Banking services total Others Net current assets Grand Total Security name 9.95% State Bank of India 2021 State Bank of Patiala 2012 8.25% Canara Bank 2011 ICICI Bank Limited 2011 Indian Bank 2011 10.30% Canara Bank 2013 9.80% Bank of India 2011 9.58% Bank of India 2011 9.70% Canara Bank 2012 Union Bank of India 2011 State Bank of Hyderabad 2011 IDBI Bank Limited 2011 Syndicate Bank 2011 10.30% Axis Bank Limited 2013 10.02% Union Bank of India 2013 9.95% Axis Bank Limited 2012 9.87% Axis Bank Limited 2012 10.03% Bank of India 2012 9.78% State Bank of Patiala 2011 State Bank of Bikaner & Jaipur 2011 9.80% Bank of India 2012 Bank of Baroda 2012 State Bank of Patiala 2011 State Bank of Travancore 2011 9.45% Punjab National Bank 2011 9.55% Oriental Bank of Commerce 2011 9.00% State Bank of India 2011 9.02% Punjab National Bank 2011 State Bank of India 2011 10.30% IDBI Bank Limited 2012 State Bank of India 2012 IDBI Bank Limited 2012 10.31% Union Bank of India 2012 State Bank of Hyderabad 2012 State Bank of Mysore 2011 Andhra Bank 2011 Jammu & Kashmir Bank Limited Canara Bank 2011 Federal Bank Limited 2011 8.98% State Bank of Patiala 2011 Axis Bank Limited 2012 Indian Overseas Bank 2011 ICICI Bank Limited 2012 Axis Bank Limited State Bank of Bikaner & Jaipur 2012 8.10% State Bank of Patiala 2011 Union Bank of India 8.47% IDBI Bank Limited 2011 10.10% Axis Bank Limited 2017 Asset type NCD CD FD CD CD FD FD FD FD CD CD CD CD FD FD FD FD FD FD CD FD CD CD CD FD FD FD FD CD NCD CD CD FD CD CD CD Equity CD CD FD CD CD CD Equity CD FD Equity NCD NCD Market value (` 000) 157,763 138,942 134,978 133,950 133,636 132,550 132,349 131,701 131,520 130,516 129,006 127,397 123,493 118,410 118,075 117,514 114,212 112,579 99,371 93,314 75,881 70,073 66,459 66,372 65,887 65,887 65,753 65,576 65,010 64,601 62,763 61,615 58,738 54,278 52,394 51,348 44,399 34,548 33,196 32,841 31,710 30,858 27,195 25,530 25,375 20,782 17,192 12,941 10,791 8,369,973 7,574,857 312,600 16,257,430 % of assets held 0.97% 0.85% 0.83% 0.82% 0.82% 0.82% 0.81% 0.81% 0.81% 0.80% 0.79% 0.78% 0.76% 0.73% 0.73% 0.72% 0.70% 0.69% 0.61% 0.57% 0.47% 0.43% 0.41% 0.41% 0.41% 0.41% 0.40% 0.40% 0.40% 0.40% 0.39% 0.38% 0.36% 0.33% 0.32% 0.32% 0.27% 0.21% 0.20% 0.20% 0.20% 0.19% 0.17% 0.16% 0.16% 0.13% 0.11% 0.08% 0.07% 51.48% 46.59% 1.92% 100.00%
Group Balanced Fund (as on March 31, 2010) Industry Banking services Security name Allahabad Bank 2010 ICICI Bank Limited 2010 Corporation Bank 2010 7.05% Canara Bank 2011 7.25% State Bank of Indore 2010 Bank of India 2011 Oriental Bank of Commerce 2010 7% Canara Bank 2011 9.25% IDBI Bank Limited 2014 HDFC Bank Limited HDFC Bank Limited 2011 Bank of Baroda 2011 Axis Bank Limited 2010 Canara Bank 2010 Axis Bank Limited 6.99% Union Bank of India 2011 United Bank of India 2010 Oriental Bank of Commerce 2011 Yes Bank Limited 2011 10.3% IDBI Bank Limited 2012 State Bank of Patiala 2010 Corporation Bank 2011 9.8% ICICI Bank Limited 2013 Asset type CD CD CD FD FD CD CD FD NCD Equity CD CD CD CD Equity FD CD CD CD NCD CD CD NCD Market value (` 000) 545,905 525,325 341,107 300,251 288,000 224,280 169,855 166,260 162,789 146,175 145,168 142,463 120,609 98,722 89,859 76,073 73,725 71,751 70,977 67,942 52,040 47,586 36,362 % of assets held 5.28% 5.08% 3.30% 2.90% 2.78% 2.17% 1.64% 1.61% 1.57% 1.41% 1.40% 1.38% 1.17% 0.95% 0.87% 0.74% 0.71% 0.69% 0.69% 0.66% 0.50% 0.46% 0.35%
203
financial Report
Group Balanced Fund (as on March 31, 2010) Industry Security name Oriental Bank of Commerce Union Bank of India 2010 Punjab National Bank 8.47% IDBI Bank Limited 2013 10.1% Axis Bank Limited 2017 6.75% ICICI Bank Limited 2010 Banking services total Financial institutions NABARD 2010 7.9% Rural Electrification Corporation Limited 2012 10.9% Rural Electrification Corporation Limited 2013 9.05% Infrastructure Development Finance Company Limited 2010 11.4% Power Finance Corporation Limited 2013 9.8% Power Finance Corporation Limited 2012 7.15% Rural Electrification Corporation Limited 2012 11.1% Power Finance Corporation Limited 2013 8.46% Indian Railway Finance Corporation Limited 2014 Power Finance Corporation Limited 2010 6.55% National Housing Bank 2012 8.6% Infrastructure Development Finance Company Limited 2011 6.42% National Housing Bank 2012 7.75% Rural Electrification Corporation Limited 2012 9.45% Rural Electrification Corporation Limited 2013 9.03% Power Finance Corporation Limited 2013 9.76% Indian Railway Finance Corporation Limited 2012 9.4% Power Finance Corporation Limited 2013 11.5% Rural Electrification Corporation Limited 2013 10.75% Power Finance Corporation Limited 2011 0% Infrastructure Development Finance Company Limited 2011 8.5% Export-Import Bank of India 2011 6.9% National Housing Bank 2012 8.4% Indian Railway Finance Corporation Limited 2013 Power Finance Corporation Limited 2019 8.5% Power Finance Corporation Limited 2014 9.5% Export-Import Bank of India 2013 8.78% Power Finance Corporation Limited 2016 Power Finance Corporation Limited 9% Infrastructure Development Finance Company Limited 2010 8.75% Indian Railway Finance Corporation Limited 2013 9.68% Indian Railway Finance Corporation Limited 2012 Rural Electrification Corporation Limited 8.94% Power Finance Corporation Limited 2013 8.55% Power Finance Corporation Limited 2011 8.45% Power Finance Corporation Limited 2014 9.28% Power Finance Corporation Limited 2017 8.88% Infrastructure Development Finance Company Limited 2011 8.83% Indian Railway Finance Corporation Limited 2012 CP NCD NCD NCD NCD NCD NCD NCD NCD PTC NCD NCD NCD NCD NCD NCD NCB NCD NCD NCD ZCB NCB NCD NCD FRN NCD NCD NCD Equity NCD NCD NCD Equity NCD NCD NCD NCB NCD NCD Asset type Equity CD Equity NCD NCD NCD Market value (` 000) 33,700 23,035 17,312 13,174 11,104 500 4,062,049 392,961 162,347 91,925 90,740 86,243 74,920 69,413 69,018 68,130 61,599 61,077 57,207 51,003 48,943 43,546 38,734 38,130 33,131 31,905 30,275 28,065 26,680 26,326 23,899 22,741 21,484 20,436 19,784 18,033 17,401 16,155 15,924 12,628 12,342 9,881 9,512 8,882 8,063 5,550 1,925,033 4,060,552 296,075 10,343,709 % of assets held 0.33% 0.22% 0.17% 0.13% 0.11% 0.00% 39.27% 3.80% 1.57% 0.89% 0.88% 0.83% 0.72% 0.67% 0.67% 0.66% 0.60% 0.59% 0.55% 0.49% 0.47% 0.42% 0.37% 0.37% 0.32% 0.31% 0.29% 0.27% 0.26% 0.25% 0.23% 0.22% 0.21% 0.20% 0.19% 0.17% 0.17% 0.16% 0.15% 0.12% 0.12% 0.10% 0.09% 0.09% 0.08% 0.05% 18.61% 39.26% 2.86% 100.00%
Financial institutions total Others Net current assets Grand Total
Group Capital Guarantee Balanced Fund (as on March 31, 2011) Industry Banking services Security name 9.85% State Bank of India 2013 Bank of India 2011 10.35% Canara Bank 2012 9.70% Canara Bank 2011 Punjab National Bank 2012 ICICI Bank Limited 2011 Indian Bank 2011 Corporation Bank 2012 9.85% Bank of India 2011 Bank of Baroda 2011 HDFC Bank Limited Corporation Bank 2011 Central Bank of India 2011 Bank of India 2012 9.95% State Bank of India 2021 State Bank of Hyderabad 2011 Union Bank of India 2011 Bank of Baroda 2012 8.25% Canara Bank 2011 9.80% Bank of India 2011 9.70% Canara Bank 2012 9.58% Bank of India 2011 10.30% Canara Bank 2013 Syndicate Bank 2011 State Bank of Mysore 2011 Asset type FD CD FD FD CD CD CD CD FD CD Equity CD CD CD NCD CD CD CD FD FD FD FD FD CD CD Market value (` 000) 94,989 44,859 42,870 39,743 39,187 36,567 36,353 35,206 34,149 28,137 26,302 25,443 24,208 24,075 21,797 20,377 19,296 18,587 17,625 17,117 17,040 17,039 16,458 15,986 15,406 % of assets held 4.50% 2.13% 2.03% 1.88% 1.86% 1.73% 1.72% 1.67% 1.62% 1.33% 1.25% 1.21% 1.15% 1.14% 1.03% 0.97% 0.91% 0.88% 0.84% 0.81% 0.81% 0.81% 0.78% 0.76% 0.73%
204

Group Capital Guarantee Balanced Fund (as on March 31, 2011) Industry Banking services total Others Net current assets Grand Total Security name Andhra Bank 2011 9.95% Axis Bank Limited 2012 9.87% Axis Bank Limited 2012 10.30% Axis Bank Limited 2013 10.02% Union Bank of India 2013 IDBI Bank Limited 2012 10.03% Bank of India 2012 Oriental Bank of Commerce 2011 10.31% Union Bank of India 2012 9.78% State Bank of Patiala 2011 State Bank of Bikaner & Jaipur 2011 9.80% Bank of India 2012 State Bank of Patiala 2012 8.10% State Bank of Patiala 2011 State Bank of Patiala 2011 State Bank of Travancore 2011 9.00% State Bank of India 2011 9.45% Punjab National Bank 2011 9.55% Oriental Bank of Commerce 2011 9.02% Punjab National Bank 2011 State Bank of India 2011 State Bank of India 2012 State Bank of Hyderabad 2012 Jammu & Kashmir Bank Limited State Bank of Bikaner & Jaipur 2012 Canara Bank 2011 8.98% State Bank of Patiala 2011 Federal Bank Limited 2011 Axis Bank Limited 2012 Indian Overseas Bank 2011 ICICI Bank Limited 2012 Axis Bank Limited Union Bank of India 8.47% IDBI Bank Limited 2011 Asset type CD FD FD FD FD CD FD CD FD FD CD FD CD FD CD CD FD FD FD FD CD CD CD Equity CD CD FD CD CD CD CD Equity Equity NCD Market value (` 000) 15,098 14,841 14,770 14,706 14,653 14,350 13,971 13,708 12,900 12,837 11,978 9,811 9,742 8,833 8,673 8,662 8,539 8,524 8,524 8,522 8,406 7,763 6,769 5,768 5,572 4,539 4,264 4,196 4,009 3,995 3,364 3,275 1,737 1,138 1,027,253 1,036,006 46,821 2,110,080 % of assets held 0.72% 0.70% 0.70% 0.70% 0.69% 0.68% 0.66% 0.65% 0.61% 0.61% 0.57% 0.46% 0.46% 0.42% 0.41% 0.41% 0.40% 0.40% 0.40% 0.40% 0.40% 0.37% 0.32% 0.27% 0.26% 0.22% 0.20% 0.20% 0.19% 0.19% 0.16% 0.16% 0.08% 0.05% 48.68% 49.10% 2.22% 100.00%
Group Capital Guarantee Balanced Fund (as on March 31, 2010) Industry Banking services Security name Union Bank of India 2010 ICICI Bank Limited 2010 Allahabad Bank 2010 7.05% Canara Bank 2011 Bank of India 2011 7.25% State Bank of Indore 2010 9.25% IDBI Bank Limited 2014 7% Canara Bank 2011 Oriental Bank of Commerce 2010 Bank of Baroda 2011 HDFC Bank Limited 2011 HDFC Bank Limited Axis Bank Limited 2010 United Bank of India 2010 Axis Bank Limited Yes Bank Limited 2011 6.99% Union Bank of India 2011 Oriental Bank of Commerce 2011 State Bank of Patiala 2010 Corporation Bank 2011 Oriental Bank of Commerce Punjab National Bank 8.47% IDBI Bank Limited 2013 9.8% ICICI Bank Limited 2013 8.88% Infrastructure Development Finance Company Limited 2011 9.8% Power Finance Corporation Limited 2012 10% Infrastructure Development Finance Company Limited 2013 7.9% Rural Electrification Corporation Limited 2012 8.46% Indian Railway Finance Corporation Limited 2014 7.15% Rural Electrification Corporation Limited 2012 11.4% Power Finance Corporation Limited 2013 6.55% National Housing Bank 2012 10.9% Rural Electrification Corporation Limited 2013 6.42% National Housing Bank 2012 11.1% Power Finance Corporation Limited 2013 9.76% Indian Railway Finance Corporation Limited 2012 Asset type CD CD CD FD CD FD NCD FD CD CD CD Equity CD CD Equity CD FD CD CD CD Equity Equity NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCB Market value (` 000) 104,495 100,018 94,110 57,172 49,893 48,000 39,225 37,674 35,476 32,996 27,630 26,802 24,343 17,075 16,826 16,439 14,583 13,756 13,320 9,167 2,856 1,667 1,159 863 785,545 51,770 48,754 41,758 36,128 15,237 14,875 13,188 11,963 10,895 9,707 9,418 6,996 % of assets held 5.59% 5.35% 5.03% 3.06% 2.67% 2.57% 2.10% 2.01% 1.90% 1.76% 1.48% 1.43% 1.30% 0.91% 0.90% 0.88% 0.78% 0.74% 0.71% 0.49% 0.15% 0.09% 0.06% 0.05% 42.00% 2.77% 2.61% 2.23% 1.93% 0.81% 0.80% 0.71% 0.64% 0.58% 0.52% 0.50% 0.37%
205
financial Report
Group Capital Guarantee Balanced Fund (as on March 31, 2010) Industry Security name 6.9% National Housing Bank 2012 10.75% Power Finance Corporation Limited 2011 0% Infrastructure Development Finance Company Limited 2011 Power Finance Corporation Limited 2019 8.5% Power Finance Corporation Limited 2014 8.6% Infrastructure Development Finance Company Limited 2011 11.5% Rural Electrification Corporation Limited 2013 Power Finance Corporation Limited 8.94% Power Finance Corporation Limited 2013 8.4% Indian Railway Finance Corporation Limited 2013 8.75% Indian Railway Finance Corporation Limited 2013 9.5% Export-Import Bank of India 2013 8.55% Power Finance Corporation Limited 2011 9.03% Power Finance Corporation Limited 2013 7.75% Rural Electrification Corporation Limited 2012 8.45% Power Finance Corporation Limited 2014 9.05% Infrastructure Development Finance Company Limited 2010 9.45% Rural Electrification Corporation Limited 2013 9% Infrastructure Development Finance Company Limited 2010 8.5% Export-Import Bank of India 2011 9.4% NABARD 2011 9.68% Indian Railway Finance Corporation Limited 2012 Rural Electrification Corporation Limited 8.83% Indian Railway Finance Corporation Limited 2012 Financial institutions total Others Net current assets Grand Total Asset type NCD NCD ZCB FRN NCD NCD NCD Equity NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCB NCD NCD Equity NCD Market value (` 000) 6,170 6,127 5,769 5,018 4,740 3,978 3,955 3,539 3,340 3,145 3,090 2,332 2,000 1,992 1,969 1,960 1,854 1,385 1,235 1,124 903 777 316 250 337,657 705,215 42,092 1,870,509 % of assets held 0.33% 0.33% 0.31% 0.27% 0.25% 0.21% 0.21% 0.19% 0.18% 0.17% 0.17% 0.12% 0.11% 0.11% 0.11% 0.10% 0.10% 0.07% 0.07% 0.06% 0.05% 0.04% 0.02% 0.01% 18.05% 37.70% 2.25% 100.00%
Group Capital Guarantee Debt Fund (as on March 31, 2011) Industry Banking services Security name 9.85% State Bank of India 2013 10.35% Canara Bank 2012 9.70% Canara Bank 2011 9.85% Bank of India 2011 Bank of Baroda 2011 Bank of India 2011 Punjab National Bank 2012 Oriental Bank of Commerce 2011 Bank of India 2012 9.95% State Bank of India 2021 State Bank of Hyderabad 2011 8.25% Canara Bank 2011 Corporation Bank 2011 9.70% Canara Bank 2012 9.58% Bank of India 2011 9.80% Bank of India 2011 Syndicate Bank 2011 10.30% Canara Bank 2013 10.31% Union Bank of India 2012 10.30% Axis Bank Limited 2013 9.87% Axis Bank Limited 2012 9.95% Axis Bank Limited 2012 10.02% Union Bank of India 2013 10.03% Bank of India 2012 Corporation Bank 2012 9.78% State Bank of Patiala 2011 State Bank of Bikaner & Jaipur 2011 9.80% Bank of India 2012 Central Bank of India 2011 8.10% State Bank of Patiala 2011 State Bank of Patiala 2011 State Bank of Travancore 2011 9.45% Punjab National Bank 2011 9.55% Oriental Bank of Commerce 2011 9.00% State Bank of India 2011 9.02% Punjab National Bank 2011 Union Bank of India 2011 State Bank of India 2012 Bank of Baroda 2012 State Bank of Hyderabad 2012 State Bank of Bikaner & Jaipur 2012 Canara Bank 2011 8.98% State Bank of Patiala 2011 Federal Bank Limited 2011 Indian Bank 2011 Indian Overseas Bank 2011 Axis Bank Limited 2012 9.10% HDFC Bank Limited 2016 Asset type FD FD FD FD CD CD CD CD CD NCD CD FD CD FD FD FD CD FD FD FD FD FD FD FD CD FD CD FD CD FD CD CD FD FD FD FD CD CD CD CD CD CD FD CD CD CD CD NCD Market value (` 000) 23,160 10,258 9,793 8,355 7,338 6,795 6,033 5,868 5,812 5,176 4,910 4,393 4,233 4,203 4,197 4,183 3,938 3,921 3,605 3,565 3,564 3,560 3,513 3,378 3,235 3,140 2,924 2,399 2,351 2,198 2,184 2,177 2,100 2,100 2,094 2,091 1,990 1,857 1,657 1,617 1,558 1,107 1,050 1,011 983 984 965 835 % of assets held 5.60% 2.48% 2.37% 2.02% 1.77% 1.64% 1.46% 1.42% 1.40% 1.25% 1.19% 1.06% 1.02% 1.02% 1.01% 1.01% 0.95% 0.95% 0.87% 0.86% 0.86% 0.86% 0.85% 0.82% 0.78% 0.76% 0.71% 0.58% 0.57% 0.53% 0.53% 0.53% 0.51% 0.51% 0.51% 0.51% 0.48% 0.45% 0.40% 0.39% 0.38% 0.27% 0.25% 0.24% 0.24% 0.24% 0.23% 0.20%
206

Group Capital Guarantee Debt Fund (as on March 31, 2011) Industry Banking services total Housing finance services Housing finance services total Others Net current assets Grand Total Security name ICICI Bank Limited 2012 10.30% IDBI Bank Limited 2012 8.47% IDBI Bank Limited 2011 State Bank of India 2011 7.45% LIC Housing Finance Limited 2012 Housing Development Finance Corporation Limited 2012 9.90% Housing Development Finance Corporation Limited 2014 Housing Development Finance Corporation Limited 2011 8.48% LIC Housing Finance Limited 2013 9.70% Housing Development Finance Corporation Limited 2016 8.40% LIC Housing Finance Limited 2013 9.45% Housing Development Finance Corporation Limited 2013 Housing Development Finance Corporation Limited 2016 9.85% LIC Housing Finance Limited 2014 9.35% LIC Housing Finance Limited 2012 9.75% Housing Development Finance Corporation Limited 2016 7.95% Housing Development Finance Corporation Limited 2014 0.00% Housing Development Finance Corporation Limited 2012 7.38% LIC Housing Finance Limited 2011 7.64% LIC Housing Finance Limited 2012 LIC Housing Finance Limited 2011 9.50% Housing Development Finance Corporation Limited 2014 9.75% Housing Development Finance Corporation Limited 2014 9.50% Housing Development Finance Corporation Limited 2013 9.45% LIC Housing Finance Limited 2012 9.90% Housing Development Finance Corporation Limited 2011 7.99% LIC Housing Finance Limited 2013 6.85% LIC Housing Finance Limited 2011 7.35% Housing Development Finance Corporation Limited 2012 9.20% Housing Development Finance Corporation Limited 2012 NCD CP NCD CP NCD NCD NCD NCD FRN NCD NCD NCD NCD ZCB NCD NCD CP NCD NCD NCD NCD NCD NCD NCD NCD NCD Asset type CD NCD NCD CD Market value (` 000) 804 724 31 1 189,918 7,594 3,318 2,615 2,336 2,149 2,089 2,089 2,075 2,071 2,060 1,850 1,848 1,473 1,291 1,142 1,131 1,047 1,032 822 799 697 622 603 451 222 14 43,440 171,645 8,827 413,830 % of assets held 0.19% 0.17% 0.01% 0.00% 45.89% 1.84% 0.80% 0.63% 0.56% 0.52% 0.50% 0.50% 0.50% 0.50% 0.50% 0.45% 0.45% 0.36% 0.31% 0.28% 0.27% 0.25% 0.25% 0.20% 0.19% 0.17% 0.15% 0.15% 0.11% 0.05% 0.00% 10.50% 41.48% 2.13% 100.00%
Group Capital Guarantee Debt Fund (as on March 31, 2010) Industry Banking services Security name State Bank of Travancore 2010 ICICI Bank Limited 2010 Allahabad Bank 2010 Bank of Baroda 2011 7.05% Canara Bank 2011 Oriental Bank of Commerce 2010 Bank of India 2011 HDFC Bank Limited 2011 7% Canara Bank 2011 9.25% IDBI Bank Limited 2014 United Bank of India 2010 Yes Bank Limited 2011 Axis Bank Limited 2010 Union Bank of India 2010 6.99% Union Bank of India 2011 Oriental Bank of Commerce 2011 Corporation Bank 2011 10.3% IDBI Bank Limited 2012 State Bank of Patiala 2010 9.8% ICICI Bank Limited 2013 8.47% IDBI Bank Limited 2013 Kotak Mahindra Prime Trustee 2013 8.84% Power Grid Corporation of India Limited 2014 8.8% Power Grid Corporation of India Limited 2013 9.47% Power Grid Corporation of India Limited 2014 9.47% Power Grid Corporation of India Limited 2012 10% Infrastructure Development Finance Company Limited 2013 6.55% National Housing Bank 2012 7.9% Rural Electrification Corporation Limited 2012 9.8% Power Finance Corporation Limited 2012 11.4% Power Finance Corporation Limited 2013 8.6% Infrastructure Development Finance Company Limited 2011 8.88% Infrastructure Development Finance Company Limited 2011 7.15% Rural Electrification Corporation Limited 2012 6.42% National Housing Bank 2012 8.46% Indian Railway Finance Corporation Limited 2014 10.75% Power Finance Corporation Limited 2011 Asset type CD CD CD CD FD CD CD CD FD NCD CD CD CD CD FD CD CD NCD CD NCD NCD PTC NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD Market value (` 000) 29,836 20,317 12,234 11,637 10,445 10,330 8,622 6,516 6,417 6,097 6,022 5,798 5,771 4,625 3,459 3,262 2,183 761 680 415 31 155,458 20,641 20,355 313 4 3 41,316 9,028 8,989 7,548 6,522 6,502 5,634 5,110 3,254 2,289 1,894 1,465 % of assets held 8.16% 5.55% 3.34% 3.18% 2.86% 2.82% 2.36% 1.78% 1.75% 1.67% 1.65% 1.58% 1.58% 1.26% 0.95% 0.89% 0.60% 0.21% 0.19% 0.11% 0.01% 42.49% 5.64% 5.56% 0.09% 0.00% 0.00% 11.29% 2.47% 2.46% 2.06% 1.78% 1.78% 1.54% 1.40% 0.89% 0.63% 0.52% 0.40%
Banking services total Electricity distribution
Electricity distribution total Financial institutions
207
financial Report
Group Capital Guarantee Debt Fund (as on March 31, 2010) Industry Security name Power Finance Corporation Limited 2019 8.5% Power Finance Corporation Limited 2014 11.1% Power Finance Corporation Limited 2013 6.9% National Housing Bank 2012 9.76% Indian Railway Finance Corporation Limited 2012 11.5% Rural Electrification Corporation Limited 2013 8.94% Power Finance Corporation Limited 2013 8.55% Power Finance Corporation Limited 2011 7.75% Rural Electrification Corporation Limited 2012 8.45% Power Finance Corporation Limited 2014 10.9% Rural Electrification Corporation Limited 2013 8.75% Indian Railway Finance Corporation Limited 2013 9.05% Infrastructure Development Finance Company Limited 2010 8.4% Indian Railway Finance Corporation Limited 2013 9% Infrastructure Development Finance Company Limited 2010 9.5% Export-Import Bank of India 2013 9.03% Power Finance Corporation Limited 2013 8.5% Export-Import Bank of India 2011 9.45% Rural Electrification Corporation Limited 2013 9.68% Indian Railway Finance Corporation Limited 2012 Financial institutions total Housing finance services 10.1% Housing Development Finance Corporation Limited 2017 7.45% LIC Housing Finance Limited 2012 6.85% LIC Housing Finance Limited 2011 7.35% Housing Development Finance Corporation Limited 2012 Housing Development Finance Corporation Limited 2010 9.45% LIC Housing Finance Limited 2012 9.35% LIC Housing Finance Limited 2014 0% Housing Development Finance Corporation Limited 2012 7.64% LIC Housing Finance Limited 2012 7.38% LIC Housing Finance Limited 2011 0% Housing Development Finance Corporation Limited 2011 9.5% Housing Development Finance Corporation Limited 2013 9.9% Housing Development Finance Corporation Limited 2011 9.2% Housing Development Finance Corporation Limited 2012 10.25% Housing Development Finance Corporation Limited 2012 9.7% Housing Development Finance Corporation Limited 2017 7.73% Bharat Petroleum Corporation Limited 2012 11.45% Reliance Industries Limited 2013 7% Indian Oil Corporation Limited 2012 10.1% Reliance Industries Limited 2011 7.35% Hindustan Petroleum Corporation Limited 2012 Asset type FRN NCD NCD NCD NCB NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCB NCD NCD NCD NCD NCD NCD CP NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD Market value (` 000) 1,239 1,170 1,154 905 663 582 480 478 470 467 364 345 234 226 210 65 34 31 28 14 67,394 13,331 7,849 5,486 2,343 2,205 1,939 1,931 1,236 1,166 1,162 897 833 651 15 12 9 41,065 14,641 12,780 8,142 1,936 710 38,209 36,210 (13,809) 365,843 % of assets held 0.34% 0.32% 0.32% 0.25% 0.18% 0.16% 0.13% 0.13% 0.13% 0.13% 0.10% 0.09% 0.06% 0.06% 0.06% 0.02% 0.01% 0.01% 0.01% 0.00% 18.42% 3.64% 2.15% 1.50% 0.64% 0.60% 0.53% 0.53% 0.34% 0.32% 0.32% 0.25% 0.23% 0.18% 0.00% 0.00% 0.00% 11.22% 4.00% 3.49% 2.23% 0.53% 0.19% 10.44% 9.90% (3.77%) 100.00%
Housing finance services total Refinery
Group Capital Guarantee Growth Fund (as on March 31, 2011) Industry Banking services Security name 9.85% State Bank of India 2013 HDFC Bank Limited ICICI Bank Limited 2011 Bank of Baroda 2011 10.31% Union Bank of India 2012 10.35% Canara Bank 2012 Bank of India 2011 9.70% Canara Bank 2011 9.85% Bank of India 2011 Axis Bank Limited 2011 Punjab National Bank 2012 Corporation Bank 2011 Central Bank of India 2011 Bank of India 2012 Oriental Bank of Commerce 2011 9.95% State Bank of India 2021 State Bank of Hyderabad 2011 Bank of Baroda 2012 Union Bank of India 2011 8.25% Canara Bank 2011 9.80% Bank of India 2011 10.30% Canara Bank 2013 9.58% Bank of India 2011 9.70% Canara Bank 2012 Syndicate Bank 2011 9.95% Axis Bank Limited 2012 Jammu & Kashmir Bank Limited 9.87% Axis Bank Limited 2012 Asset type FD Equity CD CD FD FD CD FD FD CD CD CD CD CD CD NCD CD CD CD FD FD FD FD FD CD FD Equity FD Market value (` 000) 2,166 2,036 1,884 1,285 992 986 884 877 752 669 579 577 568 561 545 501 476 454 442 386 379 377 377 374 352 352 350 345 % of assets held 3.30% 3.10% 2.87% 1.96% 1.51% 1.50% 1.35% 1.34% 1.15% 1.02% 0.88% 0.88% 0.86% 0.86% 0.83% 0.76% 0.72% 0.69% 0.67% 0.59% 0.58% 0.57% 0.57% 0.57% 0.54% 0.54% 0.53% 0.53%
208

Group Capital Guarantee Growth Fund (as on March 31, 2011) Industry Banking services total Others Net current assets Grand Total Security name 10.30% Axis Bank Limited 2013 10.02% Union Bank of India 2013 10.03% Bank of India 2012 Corporation Bank 2012 9.78% State Bank of Patiala 2011 State Bank of Bikaner & Jaipur 2011 9.80% Bank of India 2012 State Bank of India 2011 Axis Bank Limited 8.10% State Bank of Patiala 2011 State Bank of Patiala 2011 State Bank of Travancore 2011 9.00% State Bank of India 2011 9.02% Punjab National Bank 2011 9.45% Punjab National Bank 2011 9.55% Oriental Bank of Commerce 2011 State Bank of India 2012 State Bank of Hyderabad 2012 Union Bank of India Federal Bank Limited 2011 Axis Bank Limited 2012 8.98% State Bank of Patiala 2011 Indian Overseas Bank 2011 Indian Bank 2011 8.47% IDBI Bank Limited 2011 ICICI Bank Limited 2012 Asset type FD FD FD CD FD CD FD CD Equity FD CD CD FD FD FD FD CD CD Equity CD CD FD CD CD NCD CD Market value (` 000) 341 332 317 310 285 271 218 196 195 193 191 191 190 189 189 189 178 155 122 99 94 94 88 88 80 74 25,395 39,010 1,232 65,637 % of assets held 0.52% 0.51% 0.48% 0.47% 0.43% 0.41% 0.33% 0.30% 0.30% 0.29% 0.29% 0.29% 0.29% 0.29% 0.29% 0.29% 0.27% 0.24% 0.19% 0.15% 0.14% 0.14% 0.13% 0.13% 0.12% 0.12% 38.69% 59.43% 1.87% 100.00%
Group Capital Guarantee Growth Fund (as on March 31, 2010) Industry Banking services Security name Syndicate Bank 2010 ICICI Bank Limited 2010 HDFC Bank Limited Union Bank of India 2010 7.05% Canara Bank 2011 Bank of India 2011 Axis Bank Limited Allahabad Bank 2010 Bank of Baroda 2011 Oriental Bank of Commerce 2010 7% Canara Bank 2011 9.25% IDBI Bank Limited 2014 HDFC Bank Limited 2011 Axis Bank Limited 2010 United Bank of India 2010 Yes Bank Limited 2011 6.99% Union Bank of India 2011 Oriental Bank of Commerce 2011 State Bank of Patiala 2010 Corporation Bank 2011 8.47% IDBI Bank Limited 2013 9.8% ICICI Bank Limited 2013 11.1% Power Finance Corporation Limited 2013 6.55% National Housing Bank 2012 7.9% Rural Electrification Corporation Limited 2012 8.46% Indian Railway Finance Corporation Limited 2014 11.5% Rural Electrification Corporation Limited 2013 7.15% Rural Electrification Corporation Limited 2012 9.76% Indian Railway Finance Corporation Limited 2012 8.4% Indian Railway Finance Corporation Limited 2013 6.42% National Housing Bank 2012 9.8% Power Finance Corporation Limited 2012 9.5% Export-Import Bank of India 2013 10.9% Rural Electrification Corporation Limited 2013 0% Infrastructure Development Finance Company Limited 2011 8.75% Indian Railway Finance Corporation Limited 2013 10.75% Power Finance Corporation Limited 2011 6.9% National Housing Bank 2012 9.45% Rural Electrification Corporation Limited 2013 9.03% Power Finance Corporation Limited 2013 9% Infrastructure Development Finance Company Limited 2010 Rural Electrification Corporation Limited 11.4% Power Finance Corporation Limited 2013 Power Finance Corporation Limited 2019 Asset type CD CD Equity CD FD CD Equity CD CD CD FD NCD CD CD CD CD FD CD CD CD NCD NCD NCD NCD NCD NCD NCD NCD NCB NCD NCD NCD NCD NCD ZCB NCD NCD NCD NCD NCD NCD Equity NCD FRN Market value (` 000) 2,279 1,534 1,305 1,084 1,082 1,070 1,051 792 753 730 720 657 524 427 390 375 277 261 261 161 82 62 15,877 793 665 398 298 267 255 201 196 184 183 178 147 134 110 108 103 103 102 99 95 93 85 % of assets held 4.64% 3.12% 2.66% 2.21% 2.20% 2.18% 2.14% 1.61% 1.53% 1.49% 1.47% 1.34% 1.07% 0.87% 0.79% 0.76% 0.56% 0.53% 0.53% 0.33% 0.17% 0.13% 32.32% 1.61% 1.35% 0.81% 0.61% 0.54% 0.52% 0.41% 0.40% 0.37% 0.37% 0.36% 0.30% 0.27% 0.22% 0.22% 0.21% 0.21% 0.21% 0.20% 0.19% 0.19% 0.17%
209
financial Report
Group Capital Guarantee Growth Fund (as on March 31, 2010) Industry Security name 8.5% Power Finance Corporation Limited 2014 8.6% Infrastructure Development Finance Company Limited 2011 8.88% Infrastructure Development Finance Company Limited 2011 8.94% Power Finance Corporation Limited 2013 9.68% Indian Railway Finance Corporation Limited 2012 8.55% Power Finance Corporation Limited 2011 7.75% Rural Electrification Corporation Limited 2012 8.45% Power Finance Corporation Limited 2014 8.83% Indian Railway Finance Corporation Limited 2012 9.05% Infrastructure Development Finance Company Limited 2010 Financial institutions total Others Net current assets Grand Total Asset type NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD Market value (` 000) 80 72 69 53 39 35 34 34 20 19 5,252 26,584 1,410 49,123 % of assets held 0.16% 0.15% 0.14% 0.11% 0.08% 0.07% 0.07% 0.07% 0.04% 0.04% 10.69% 54.12% 2.87% 100.00%
Group Capital Guarantee Short Term Debt Fund (as on March 31, 2011) Industry Banking services Banking services total Others Net current assets Grand Total Security name Oriental Bank of Commerce 2012 Uco Bank 2011 10.25% Bank of Baroda 2012 9.85% State Bank of India 2013 Corporation Bank 2012 Bank of India 2011 Punjab National Bank 2012 10.35% Canara Bank 2012 State Bank of Hyderabad 2011 Union Bank of India 2011 9.70% Canara Bank 2011 Axis Bank Limited 2011 IDBI Bank Limited 2012 Oriental Bank of Commerce 2011 Punjab National Bank 2011 10.30% Canara Bank 2013 ICICI Bank Limited 2011 State Bank of Travancore 2011 Axis Bank Limited 2012 10.30% Axis Bank Limited 2013 10.02% Union Bank of India 2013 9.87% Axis Bank Limited 2012 9.95% Axis Bank Limited 2012 State Bank of Mysore 2011 Central Bank of India 2011 State Bank of Hyderabad 2012 8.23% Canara Bank 2011 ICICI Bank Limited 2012 Asset type CD CD FD FD CD CD CD FD CD CD FD CD CD CD CD FD CD CD CD FD FD FD FD CD CD CD FD CD Market value (` 000) 164,531 157,105 145,648 127,968 123,401 108,556 86,091 73,667 70,512 69,838 69,003 68,724 66,557 56,144 52,025 49,000 48,934 35,614 32,504 20,078 19,862 19,715 19,679 11,576 9,842 9,204 5,000 4,571 1,725,349 607,957 29,722 2,363,028 % of assets held 6.96% 6.65% 6.16% 5.42% 5.22% 4.59% 3.64% 3.12% 2.98% 2.96% 2.92% 2.91% 2.82% 2.38% 2.20% 2.07% 2.07% 1.51% 1.38% 0.85% 0.84% 0.83% 0.83% 0.49% 0.42% 0.39% 0.21% 0.19% 73.01% 25.73% 1.26% 100.00%
Group Capital Guarantee Short Term Debt Fund (as on March 31, 2010) Industry Banking services Security name Oriental Bank of Commerce 2010 7.25% State Bank of Indore 2010 7% Canara Bank 2011 State Bank of Patiala 2010 Bank of Baroda 2011 Andhra Bank 2010 Union Bank of India 2010 Axis Bank Limited 2011 State Bank of Travancore 2010 Bank of Baroda 2010 Punjab National Bank 2010 Corporation Bank 2010 Corporation Bank 2011 IDBI Bank Limited 2010 State Bank of Bikaner & Jaipur 2010 6.99% Union Bank of India 2011 8% State Bank of Patiala 2010 Axis Bank Limited 2010 Bank of India 2011 7.05% Canara Bank 2011 Allahabad Bank 2010 United Bank of India 2010 Yes Bank Limited 2011 Asset type CD FD FD CD CD CD CD CD CD CD CD CD CD CD CD FD FD CD CD FD CD CD CD Market value (` 000) 202,837 182,000 159,737 158,799 124,209 116,577 93,576 85,797 84,569 79,476 72,901 67,270 54,263 46,771 39,951 39,000 36,000 32,606 20,446 15,000 2,547 1,254 1,207 1,716,793 447,534 32,218 2,196,545 % of assets held 9.23% 8.29% 7.27% 7.23% 5.65% 5.31% 4.26% 3.91% 3.85% 3.62% 3.32% 3.06% 2.47% 2.13% 1.82% 1.78% 1.64% 1.48% 0.93% 0.68% 0.12% 0.06% 0.05% 78.16% 20.37% 1.47% 100.00%
210

Group Debt Fund (as on March 31, 2011) Industry Banking services Banking services total Housing finance services Housing finance services total Others Net current assets Grand Total Security name 9.85% State Bank of India 2013 10.35% Canara Bank 2012 9.70% Canara Bank 2011 Bank of India 2011 9.85% Bank of India 2011 9.30% Axis Bank Limited 2012 Corporation Bank 2012 Punjab National Bank 2012 Oriental Bank of Commerce 2011 Bank of India 2012 9.95% State Bank of India 2021 8.25% Canara Bank 2011 9.70% Canara Bank 2012 9.80% Bank of India 2011 9.58% Bank of India 2011 10.30% Canara Bank 2013 State Bank of Hyderabad 2011 Bank of Baroda 2011 Syndicate Bank 2011 10.30% Axis Bank Limited 2013 10.02% Union Bank of India 2013 9.87% Axis Bank Limited 2012 9.95% Axis Bank Limited 2012 10.30% IDBI Bank Limited 2012 10.03% Bank of India 2012 9.78% State Bank of Patiala 2011 State Bank of Bikaner & Jaipur 2011 Indian Bank 2011 Union Bank of India 2011 9.80% Bank of India 2012 8.10% State Bank of Patiala 2011 State Bank of Mysore 2011 State Bank of Patiala 2011 Corporation Bank 2011 State Bank of Travancore 2011 9.45% Punjab National Bank 2011 9.55% Oriental Bank of Commerce 2011 9.00% State Bank of India 2011 9.02% Punjab National Bank 2011 Andhra Bank 2011 State Bank of India 2011 State Bank of India 2012 Central Bank of India 2011 Bank of Baroda 2012 State Bank of Hyderabad 2012 Canara Bank 2011 8.98% State Bank of Patiala 2011 Federal Bank Limited 2011 Axis Bank Limited 2012 Indian Overseas Bank 2011 ICICI Bank Limited 2012 8.47% IDBI Bank Limited 2011 7.45% LIC Housing Finance Limited 2012 Housing Development Finance Corporation Limited 2012 9.90% Housing Development Finance Corporation Limited 2014 Housing Development Finance Corporation Limited 2011 9.20% Housing Development Finance Corporation Limited 2012 8.40% LIC Housing Finance Limited 2013 9.70% Housing Development Finance Corporation Limited 2016 9.85% LIC Housing Finance Limited 2014 8.48% LIC Housing Finance Limited 2013 9.45% Housing Development Finance Corporation Limited 2013 Housing Development Finance Corporation Limited 2016 9.75% Housing Development Finance Corporation Limited 2016 9.50% Housing Development Finance Corporation Limited 2013 9.35% LIC Housing Finance Limited 2012 7.95% Housing Development Finance Corporation Limited 2014 9.90% Housing Development Finance Corporation Limited 2011 0.00% Housing Development Finance Corporation Limited 2012 9.50% Housing Development Finance Corporation Limited 2014 LIC Housing Finance Limited 2011 7.38% LIC Housing Finance Limited 2011 7.64% LIC Housing Finance Limited 2012 9.75% Housing Development Finance Corporation Limited 2014 9.45% LIC Housing Finance Limited 2012 10.00% ICICI Home Finance Company Limited 2013 7.99% LIC Housing Finance Limited 2013 6.85% LIC Housing Finance Limited 2011 7.35% Housing Development Finance Corporation Limited 2012 Asset type FD FD FD CD FD NCD CD CD CD CD NCD FD FD FD FD FD CD CD CD FD FD FD FD NCD FD FD CD CD CD FD FD CD CD CD CD FD FD FD FD CD CD CD CD CD CD CD FD CD CD CD CD NCD NCD CP NCD CP NCD NCD NCD NCD NCD NCD FRN NCD NCD NCD NCD NCD ZCB NCD CP NCD NCD NCD NCD NCD NCD NCD NCD Market value (` 000) 350,843 158,941 145,780 145,465 126,182 99,697 94,705 94,572 88,333 88,003 80,178 64,861 63,323 62,798 62,387 60,755 60,066 58,842 58,541 54,536 54,109 53,965 53,960 52,104 51,591 47,088 43,741 39,415 39,020 36,169 32,300 31,651 31,518 31,471 31,421 31,218 31,218 31,143 31,096 31,018 30,731 28,632 26,669 25,977 25,091 16,704 15,635 15,316 14,630 14,628 12,395 6,908 3,037,340 73,242 50,237 40,528 36,118 34,192 32,713 31,924 31,773 31,667 31,413 31,332 28,670 27,747 25,507 24,154 19,232 16,809 15,637 15,469 14,560 14,421 12,556 9,616 9,471 9,135 5,878 3,067 677,068 2,385,784 97,113 6,197,305 % of assets held 5.66% 2.56% 2.35% 2.35% 2.04% 1.61% 1.53% 1.53% 1.43% 1.42% 1.29% 1.05% 1.02% 1.01% 1.01% 0.98% 0.97% 0.95% 0.94% 0.88% 0.87% 0.87% 0.87% 0.84% 0.83% 0.76% 0.71% 0.64% 0.63% 0.58% 0.52% 0.51% 0.51% 0.51% 0.51% 0.50% 0.50% 0.50% 0.50% 0.50% 0.50% 0.46% 0.43% 0.42% 0.40% 0.27% 0.25% 0.25% 0.24% 0.24% 0.20% 0.11% 49.01% 1.18% 0.81% 0.65% 0.58% 0.55% 0.53% 0.52% 0.51% 0.51% 0.51% 0.51% 0.46% 0.45% 0.41% 0.39% 0.31% 0.27% 0.25% 0.25% 0.23% 0.23% 0.20% 0.16% 0.15% 0.15% 0.09% 0.05% 10.93% 38.50% 1.57% 100.00%
211
financial Report
Group Debt Fund (as on March 31, 2010) Industry Banking services Security name Oriental Bank of Commerce 2010 ICICI Bank Limited 2010 Bank of India 2011 Axis Bank Limited 2010 Union Bank of India 2010 9.25% IDBI Bank Limited 2014 9.3% Axis Bank Limited 2012 Canara Bank 2010 7.05% Canara Bank 2011 HDFC Bank Limited 2011 10.3% IDBI Bank Limited 2012 7.25% State Bank of Indore 2010 6.99% Union Bank of India 2011 Oriental Bank of Commerce 2011 Andhra Bank 2010 9.8% ICICI Bank Limited 2013 Corporation Bank 2011 Bank of Baroda 2011 8.47% IDBI Bank Limited 2013 United Bank of India 2010 Yes Bank Limited 2011 6.55% National Housing Bank 2012 7.9% Rural Electrification Corporation Limited 2012 7.15% Rural Electrification Corporation Limited 2012 10.9% Rural Electrification Corporation Limited 2013 8.6% Infrastructure Development Finance Company Limited 2011 11.4% Power Finance Corporation Limited 2013 9.8% NABARD 2012 8.95% Infrastructure Development Finance Company Limited 2013 8.46% Indian Railway Finance Corporation Limited 2014 11.1% Power Finance Corporation Limited 2013 6.42% National Housing Bank 2012 9.45% Rural Electrification Corporation Limited 2013 11.5% Rural Electrification Corporation Limited 2013 10.75% Power Finance Corporation Limited 2011 8.75% Indian Railway Finance Corporation Limited 2013 8.4% Indian Railway Finance Corporation Limited 2013 9.76% Indian Railway Finance Corporation Limited 2012 9.05% Infrastructure Development Finance Company Limited 2010 6.9% National Housing Bank 2012 9.5% Export-Import Bank of India 2013 9.8% Power Finance Corporation Limited 2012 Power Finance Corporation Limited 2019 8.5% Power Finance Corporation Limited 2014 9.03% Power Finance Corporation Limited 2013 8.94% Power Finance Corporation Limited 2013 9% Infrastructure Development Finance Company Limited 2010 8.55% Power Finance Corporation Limited 2011 8.88% Infrastructure Development Finance Company Limited 2011 8.45% Power Finance Corporation Limited 2014 7.75% Rural Electrification Corporation Limited 2012 9.68% Indian Railway Finance Corporation Limited 2012 8.83% Indian Railway Finance Corporation Limited 2012 8.5% Export-Import Bank of India 2011 Asset type CD CD CD CD CD NCD NCD CD FD CD NCD FD FD CD CD NCD CD CD NCD CD CD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCB NCD NCD NCD NCD FRN NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCB Market value (` 000) 167,039 156,574 136,837 134,247 127,299 119,315 103,881 83,914 83,143 82,945 54,799 46,500 44,086 41,591 38,859 29,337 27,788 10,180 7,029 5,268 5,072 1,505,703 147,297 90,347 80,375 73,789 64,539 63,927 57,880 56,564 50,471 44,489 29,141 26,553 26,259 20,194 19,798 19,230 19,136 16,720 16,589 16,243 15,454 15,017 14,187 14,174 9,619 9,013 6,591 6,567 6,440 6,147 3,070 1,703 920 1,048,443 2,151,926 854,189 5,560,261 % of assets held 3.00% 2.82% 2.46% 2.41% 2.29% 2.15% 1.87% 1.51% 1.50% 1.49% 0.99% 0.84% 0.79% 0.75% 0.70% 0.53% 0.50% 0.18% 0.13% 0.09% 0.09% 27.08% 2.65% 1.62% 1.45% 1.33% 1.16% 1.15% 1.04% 1.02% 0.91% 0.80% 0.52% 0.48% 0.47% 0.36% 0.36% 0.35% 0.34% 0.30% 0.30% 0.29% 0.28% 0.27% 0.26% 0.25% 0.17% 0.16% 0.12% 0.12% 0.12% 0.11% 0.06% 0.03% 0.02% 18.86% 38.70% 15.36% 100.00%
Group Growth Fund (as on March 31, 2011) Industry Banking services Security name HDFC Bank Limited Axis Bank Limited 2011 9.85% State Bank of India 2013 Corporation Bank 2012 Bank of India 2011 10.35% Canara Bank 2012 Punjab National Bank 2012 Jammu & Kashmir Bank Limited 9.70% Canara Bank 2011 9.85% Bank of India 2011 Indian Bank 2011 State Bank of Patiala 2012 Bank of Baroda 2011 Central Bank of India 2011 Corporation Bank 2011 Bank of India 2012 Asset type Equity CD FD CD CD FD CD Equity FD FD CD CD CD CD CD CD Market value (` 000) 269,796 148,039 130,201 104,995 102,099 59,777 56,886 53,576 52,499 45,593 42,863 41,511 40,270 35,795 35,022 33,293 % of assets held 4.66% 2.56% 2.25% 1.81% 1.76% 1.03% 0.98% 0.93% 0.91% 0.79% 0.74% 0.72% 0.70% 0.62% 0.60% 0.58%
212

Group Growth Fund (as on March 31, 2011) Industry Banking services total Others Net current assets Grand Total Security name Oriental Bank of Commerce 2011 9.95% State Bank of India 2021 Axis Bank Limited State Bank of Hyderabad 2011 Bank of Baroda 2012 Union Bank of India 2011 ICICI Bank Limited 2011 9.70% Canara Bank 2012 State Bank of Mysore 2011 9.80% Bank of India 2011 Andhra Bank 2011 8.25% Canara Bank 2011 10.30% Canara Bank 2013 9.58% Bank of India 2011 9.95% Axis Bank Limited 2012 10.02% Union Bank of India 2013 Syndicate Bank 2011 10.30% Axis Bank Limited 2013 9.87% Axis Bank Limited 2012 10.31% Union Bank of India 2012 10.03% Bank of India 2012 10.30% IDBI Bank Limited 2012 IDBI Bank Limited 2012 9.78% State Bank of Patiala 2011 Union Bank of India State Bank of Bikaner & Jaipur 2011 9.80% Bank of India 2012 State Bank of India 2011 State Bank of Patiala 2011 State Bank of Travancore 2011 9.45% Punjab National Bank 2011 9.55% Oriental Bank of Commerce 2011 9.00% State Bank of India 2011 9.02% Punjab National Bank 2011 State Bank of India 2012 8.10% State Bank of Patiala 2011 State Bank of Hyderabad 2012 State Bank of Bikaner & Jaipur 2012 Federal Bank Limited 2011 8.98% State Bank of Patiala 2011 Axis Bank Limited 2012 Indian Overseas Bank 2011 ICICI Bank Limited 2012 10.10% Axis Bank Limited 2017 8.47% IDBI Bank Limited 2011 Asset type CD NCD Equity CD CD CD CD FD CD FD CD FD FD FD FD FD CD FD FD FD FD NCD CD FD Equity CD FD CD CD CD FD FD FD FD CD FD CD CD CD FD CD CD CD NCD NCD Market value (` 000) 32,631 30,557 29,213 29,187 28,736 26,669 25,735 24,474 23,574 23,338 23,103 22,822 22,761 22,637 22,341 21,240 21,232 20,969 20,492 20,374 20,252 19,190 18,408 17,565 17,192 16,636 13,381 11,604 11,582 11,567 11,437 11,437 11,395 11,379 11,237 11,220 9,302 8,798 5,903 5,677 5,639 5,305 4,760 3,783 3,298 2,022,247 3,666,963 100,122 5,789,332 % of assets held 0.56% 0.53% 0.50% 0.50% 0.50% 0.46% 0.44% 0.42% 0.41% 0.40% 0.40% 0.39% 0.39% 0.39% 0.39% 0.37% 0.37% 0.36% 0.35% 0.35% 0.35% 0.33% 0.32% 0.30% 0.30% 0.29% 0.23% 0.20% 0.20% 0.20% 0.20% 0.20% 0.20% 0.20% 0.19% 0.19% 0.16% 0.15% 0.10% 0.10% 0.10% 0.09% 0.08% 0.07% 0.06% 34.93% 63.34% 1.73% 100.00%
Group Growth Fund (as on March 31, 2010) Industry Banking services Security name HDFC Bank Limited ICICI Bank Limited 2010 Axis Bank Limited Bank of India 2011 7.05% Canara Bank 2011 Allahabad Bank 2010 Bank of Baroda 2011 Oriental Bank of Commerce 2010 7% Canara Bank 2011 9.25% IDBI Bank Limited 2014 Oriental Bank of Commerce HDFC Bank Limited 2011 United Bank of India 2010 Yes Bank Limited 2011 Axis Bank Limited 2010 Punjab National Bank 10.3% IDBI Bank Limited 2012 6.99% Union Bank of India 2011 State Bank of Patiala 2010 Oriental Bank of Commerce 2011 9.8% ICICI Bank Limited 2013 Corporation Bank 2011 Union Bank of India 2010 10.1% Axis Bank Limited 2017 8.47% IDBI Bank Limited 2013 Asset type Equity CD Equity CD FD CD CD CD FD NCD Equity CD CD CD CD Equity NCD FD CD CD NCD CD CD NCD NCD Market value (` 000) 226,888 135,012 129,818 91,099 77,253 62,613 59,554 55,929 50,587 44,520 38,193 37,515 30,819 29,670 25,264 22,104 20,182 19,343 18,414 18,247 13,054 12,382 11,566 3,893 3,357 1,237,276 % of assets held 4.60% 2.73% 2.63% 1.85% 1.56% 1.27% 1.21% 1.13% 1.02% 0.90% 0.77% 0.76% 0.62% 0.60% 0.51% 0.45% 0.41% 0.39% 0.37% 0.37% 0.26% 0.25% 0.23% 0.08% 0.07% 25.06%
Banking services total
213
financial Report
Group Growth Fund (as on March 31, 2010) Industry Financial institutions Security name NABARD 2010 Export-Import Bank of India 2010 6.55% National Housing Bank 2012 9.05% Infrastructure Development Finance Company Limited 2010 Power Finance Corporation Limited 7.9% Rural Electrification Corporation Limited 2012 10.9% Rural Electrification Corporation Limited 2013 Rural Electrification Corporation Limited 11.4% Power Finance Corporation Limited 2013 11.1% Power Finance Corporation Limited 2013 8.46% Indian Railway Finance Corporation Limited 2014 7.15% Rural Electrification Corporation Limited 2012 9.4% Power Finance Corporation Limited 2013 0% Infrastructure Development Finance Company Limited 2011 8.78% Power Finance Corporation Limited 2016 6.42% National Housing Bank 2012 9.8% Power Finance Corporation Limited 2012 9.03% Power Finance Corporation Limited 2013 11.5% Rural Electrification Corporation Limited 2013 9.76% Indian Railway Finance Corporation Limited 2012 9.45% Rural Electrification Corporation Limited 2013 8.6% Infrastructure Development Finance Company Limited 2011 10.75% Power Finance Corporation Limited 2011 8.4% Indian Railway Finance Corporation Limited 2013 6.9% National Housing Bank 2012 9.5% Export-Import Bank of India 2013 Power Finance Corporation Limited 2019 8.5% Power Finance Corporation Limited 2014 8.75% Indian Railway Finance Corporation Limited 2013 8.94% Power Finance Corporation Limited 2013 8.55% Power Finance Corporation Limited 2011 9.68% Indian Railway Finance Corporation Limited 2012 8.45% Power Finance Corporation Limited 2014 7.75% Rural Electrification Corporation Limited 2012 8.5% Export-Import Bank of India 2011 9.28% Power Finance Corporation Limited 2017 8.88% Infrastructure Development Finance Company Limited 2011 8.83% Indian Railway Finance Corporation Limited 2012 9% Infrastructure Development Finance Company Limited 2010 Reliance Industries Limited 7.73% Bharat Petroleum Corporation Limited 2012 11.45% Reliance Industries Limited 2013 7% Indian Oil Corporation Limited 2012 Bharat Petroleum Corporation Limited Hindustan Petroleum Corporation Limited 10.9% Reliance Gas Transportation Infrastructure Limited 2014 10.1% Reliance Industries Limited 2011 7.35% Hindustan Petroleum Corporation Limited 2012 Asset type CP CD NCD NCD Equity NCD NCD Equity NCD NCD NCD NCD NCD ZCB NCD NCD NCD NCD NCD NCB NCD NCD NCD NCD NCD NCD FRN NCD NCD NCD NCD NCD NCD NCD NCB NCB NCD NCD NCD Equity NCD NCD NCD Equity Equity NCD NCD NCD Market value (` 000) 245,601 98,883 49,343 35,176 30,072 27,394 26,215 25,258 25,173 20,758 18,895 18,788 14,359 14,277 13,210 13,180 13,024 10,880 9,428 9,134 9,108 7,942 7,928 7,132 7,042 6,187 6,022 5,689 4,962 3,811 2,587 2,503 2,492 2,461 2,453 2,309 2,264 1,448 1,160 804,548 207,046 100,124 68,509 39,895 33,976 16,565 11,480 11,137 5,927 494,659 2,383,750 17,319 4,937,552 % of assets held 4.97% 2.00% 1.00% 0.71% 0.61% 0.55% 0.53% 0.51% 0.51% 0.42% 0.38% 0.38% 0.29% 0.29% 0.27% 0.27% 0.26% 0.22% 0.19% 0.18% 0.18% 0.16% 0.16% 0.14% 0.14% 0.13% 0.12% 0.12% 0.10% 0.08% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.03% 0.02% 16.29% 4.19% 2.03% 1.39% 0.81% 0.69% 0.34% 0.23% 0.23% 0.12% 10.02% 48.28% 0.35% 100.00%
Group Leave Encashment Balance Fund (as on March 31, 2011) Industry Banking services Security name 9.85% State Bank of India 2013 Bank of Baroda 2011 10.35% Canara Bank 2012 10.31% Union Bank of India 2012 9.70% Canara Bank 2011 Bank of India 2011 9.85% Bank of India 2011 Corporation Bank 2011 Punjab National Bank 2012 HDFC Bank Limited Central Bank of India 2011 Bank of India 2012 Oriental Bank of Commerce 2011 9.95% State Bank of India 2021 10.30% IDBI Bank Limited 2012 State Bank of Hyderabad 2011 Union Bank of India 2011 Bank of Baroda 2012 State Bank of Bikaner & Jaipur 2012 8.25% Canara Bank 2011 9.80% Bank of India 2011 Asset type FD CD FD FD FD CD FD CD CD Equity CD CD CD NCD NCD CD CD CD CD FD FD Market value (` 000) 23,349 13,434 10,478 10,155 9,737 9,727 8,359 6,225 6,172 6,010 5,938 5,904 5,892 5,323 5,250 5,024 4,778 4,685 4,390 4,308 4,189 % of assets held 4.53% 2.61% 2.03% 1.97% 1.89% 1.89% 1.62% 1.21% 1.20% 1.17% 1.15% 1.15% 1.14% 1.03% 1.02% 0.98% 0.93% 0.91% 0.85% 0.84% 0.81%
214

Group Leave Encashment Balance Fund (as on March 31, 2011) Industry Banking services total Housing finance services Housing finance services total Others Net current assets Grand Total Security name 9.70% Canara Bank 2012 9.58% Bank of India 2011 ICICI Bank Limited 2011 10.30% Canara Bank 2013 Syndicate Bank 2011 9.95% Axis Bank Limited 2012 9.87% Axis Bank Limited 2012 10.30% Axis Bank Limited 2013 10.02% Union Bank of India 2013 10.03% Bank of India 2012 Corporation Bank 2012 9.78% State Bank of Patiala 2011 State Bank of Bikaner & Jaipur 2011 9.80% Bank of India 2012 8.10% State Bank of Patiala 2011 State Bank of Patiala 2011 State Bank of Travancore 2011 9.00% State Bank of India 2011 9.45% Punjab National Bank 2011 9.55% Oriental Bank of Commerce 2011 9.02% Punjab National Bank 2011 State Bank of India 2011 State Bank of India 2012 State Bank of Hyderabad 2012 Jammu & Kashmir Bank Limited 8.98% State Bank of Patiala 2011 Federal Bank Limited 2011 Axis Bank Limited 2012 Indian Overseas Bank 2011 Indian Bank 2011 ICICI Bank Limited 2012 Axis Bank Limited 8.47% IDBI Bank Limited 2011 8.28% LIC Housing Finance Limited 2015 7.45% LIC Housing Finance Limited 2012 Housing Development Finance Corporation Limited 2012 9.90% Housing Development Finance Corporation Limited 2014 Housing Development Finance Corporation Limited 2011 8.40% LIC Housing Finance Limited 2013 Housing Development Finance Corporation Limited 2016 9.70% Housing Development Finance Corporation Limited 2016 8.48% LIC Housing Finance Limited 2013 9.85% LIC Housing Finance Limited 2014 9.45% Housing Development Finance Corporation Limited 2013 9.50% Housing Development Finance Corporation Limited 2013 9.75% Housing Development Finance Corporation Limited 2016 9.35% LIC Housing Finance Limited 2012 7.95% Housing Development Finance Corporation Limited 2014 0.00% Housing Development Finance Corporation Limited 2012 7.38% LIC Housing Finance Limited 2011 7.64% LIC Housing Finance Limited 2012 9.50% Housing Development Finance Corporation Limited 2014 LIC Housing Finance Limited 2011 9.90% Housing Development Finance Corporation Limited 2011 9.75% Housing Development Finance Corporation Limited 2014 9.45% LIC Housing Finance Limited 2012 7.99% LIC Housing Finance Limited 2013 6.85% LIC Housing Finance Limited 2011 7.35% Housing Development Finance Corporation Limited 2012 Asset type FD FD CD FD CD FD FD FD FD FD CD FD CD FD FD CD CD FD FD FD FD CD CD CD Equity FD CD CD CD CD CD Equity NCD NCD NCD CP NCD CP NCD FRN NCD NCD NCD NCD NCD NCD NCD NCD ZCB NCD NCD NCD CP NCD NCD NCD NCD NCD NCD Market value (` 000) 4,175 4,173 4,158 4,030 3,917 3,650 3,620 3,597 3,582 3,416 3,310 3,141 2,938 2,402 2,156 2,123 2,116 2,090 2,087 2,087 2,086 2,062 1,899 1,655 1,486 1,044 1,030 984 979 978 822 796 457 238,373 9,572 5,516 3,370 2,689 2,472 2,160 2,124 2,115 2,110 2,107 2,107 1,939 1,891 1,780 1,589 1,229 1,179 1,168 1,059 1,037 885 833 671 618 429 218 52,867 210,675 13,172 515,087 % of assets held 0.81% 0.81% 0.81% 0.78% 0.76% 0.71% 0.70% 0.70% 0.70% 0.66% 0.64% 0.61% 0.57% 0.47% 0.42% 0.41% 0.41% 0.41% 0.41% 0.41% 0.40% 0.40% 0.37% 0.32% 0.29% 0.20% 0.20% 0.19% 0.19% 0.19% 0.16% 0.15% 0.09% 46.28% 1.86% 1.07% 0.65% 0.52% 0.48% 0.42% 0.41% 0.41% 0.41% 0.41% 0.41% 0.38% 0.37% 0.35% 0.31% 0.24% 0.23% 0.23% 0.21% 0.20% 0.17% 0.16% 0.13% 0.12% 0.08% 0.04% 10.26% 40.90% 2.56% 100.00%
Group Leave Encashment Balance Fund (as on March 31, 2010) Industry Banking services Security name Bank of Baroda 2011 Union Bank of India 2010 ICICI Bank Limited 2010 7.05% Canara Bank 2011 Bank of India 2011 Allahabad Bank 2010 Oriental Bank of Commerce 2010 7% Canara Bank 2011 9.25% IDBI Bank Limited 2014 Axis Bank Limited 2010 HDFC Bank Limited 2011 Asset type CD CD CD FD CD CD CD FD NCD CD CD Market value (` 000) 38,553 21,052 16,347 13,943 12,203 10,684 9,569 9,241 8,028 7,140 6,732 % of assets held 8.19% 4.47% 3.47% 2.96% 2.59% 2.27% 2.03% 1.96% 1.70% 1.52% 1.43%
215
financial Report
Group Leave Encashment Balance Fund (as on March 31, 2010) Industry Security name HDFC Bank Limited 9.8% ICICI Bank Limited 2013 10.3% IDBI Bank Limited 2012 United Bank of India 2010 Yes Bank Limited 2011 Axis Bank Limited 6.99% Union Bank of India 2011 Oriental Bank of Commerce 2011 State Bank of Patiala 2010 Corporation Bank 2011 Punjab National Bank 8.47% IDBI Bank Limited 2013 Banking services total Financial institutions 6.55% National Housing Bank 2012 11.1% Power Finance Corporation Limited 2013 10.9% Rural Electrification Corporation Limited 2013 7.9% Rural Electrification Corporation Limited 2012 11.4% Power Finance Corporation Limited 2013 8.46% Indian Railway Finance Corporation Limited 2014 7.15% Rural Electrification Corporation Limited 2012 6.42% National Housing Bank 2012 9.8% Power Finance Corporation Limited 2012 Power Finance Corporation Limited 11.5% Rural Electrification Corporation Limited 2013 10.75% Power Finance Corporation Limited 2011 8.4% Indian Railway Finance Corporation Limited 2013 0% Infrastructure Development Finance Company Limited 2011 6.9% National Housing Bank 2012 9.5% Export-Import Bank of India 2013 9.76% Indian Railway Finance Corporation Limited 2012 Power Finance Corporation Limited 2019 8.5% Power Finance Corporation Limited 2014 8.6% Infrastructure Development Finance Company Limited 2011 8.75% Indian Railway Finance Corporation Limited 2013 9.45% Rural Electrification Corporation Limited 2013 8.94% Power Finance Corporation Limited 2013 8.88% Infrastructure Development Finance Company Limited 2011 8.55% Power Finance Corporation Limited 2011 8.45% Power Finance Corporation Limited 2014 7.75% Rural Electrification Corporation Limited 2012 8.83% Indian Railway Finance Corporation Limited 2012 9.05% Infrastructure Development Finance Company Limited 2010 9% Infrastructure Development Finance Company Limited 2010 Rural Electrification Corporation Limited 10.75% Rural Electrification Corporation Limited 2013 7.73% Bharat Petroleum Corporation Limited 2012 11.45% Reliance Industries Limited 2013 7% Indian Oil Corporation Limited 2012 Reliance Industries Limited 10.1% Reliance Industries Limited 2011 7.35% Hindustan Petroleum Corporation Limited 2012 Bharat Petroleum Corporation Limited Hindustan Petroleum Corporation Limited Asset type Equity NCD NCD CD CD Equity FD CD CD CD Equity NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD Equity NCD NCD NCD ZCB NCD NCD NCB FRN NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD Equity NCD NCD NCD NCD Equity NCD NCD Equity Equity Market value (` 000) 6,620 5,600 5,521 5,259 5,063 4,778 3,570 3,368 3,238 2,097 944 464 200,014 8,645 6,196 5,139 4,745 4,519 3,360 3,317 2,365 2,081 2,041 1,831 1,409 1,378 1,313 1,229 1,201 1,176 999 944 922 912 700 664 461 460 449 446 257 242 210 63 11 59,685 17,993 13,932 7,161 5,835 2,000 1,004 901 573 49,399 151,166 10,676 470,940 % of assets held 1.41% 1.19% 1.17% 1.12% 1.08% 1.01% 0.76% 0.72% 0.69% 0.45% 0.20% 0.10% 42.47% 1.84% 1.32% 1.09% 1.01% 0.96% 0.71% 0.70% 0.50% 0.44% 0.43% 0.39% 0.30% 0.29% 0.28% 0.26% 0.26% 0.25% 0.21% 0.20% 0.20% 0.19% 0.15% 0.14% 0.10% 0.10% 0.10% 0.09% 0.05% 0.05% 0.04% 0.01% 0.00% 12.67% 3.82% 2.96% 1.52% 1.24% 0.42% 0.21% 0.19% 0.12% 10.49% 32.10% 2.27% 100.00%
Group Leave Encashment Income Fund (as on March 31, 2011) Industry Banking services Security name Uco Bank 2011 9.85% State Bank of India 2013 Oriental Bank of Commerce 2011 Bank of India 2011 10.35% Canara Bank 2012 9.85% Bank of India 2011 ICICI Bank Limited 2011 Bank of Baroda 2011 Punjab National Bank 2012 Corporation Bank 2011 Bank of India 2012 9.95% State Bank of India 2021 State Bank of Hyderabad 2011 Union Bank of India 2011 Central Bank of India 2011 8.25% Canara Bank 2011 9.58% Bank of India 2011 Asset type CD FD CD CD FD FD CD CD CD CD CD NCD CD CD CD FD FD Market value (` 000) 3,680 2,624 1,108 1,102 1,024 946 864 748 734 731 659 611 562 549 546 488 474 % of assets held 7.56% 5.39% 2.28% 2.26% 2.10% 1.94% 1.78% 1.54% 1.51% 1.50% 1.35% 1.26% 1.15% 1.13% 1.12% 1.00% 0.97%
216

Group Leave Encashment Income Fund (as on March 31, 2011) Industry Banking services total Others Net current assets Grand Total Security name 9.80% Bank of India 2011 10.30% Canara Bank 2013 Syndicate Bank 2011 10.30% Axis Bank Limited 2013 Corporation Bank 2012 10.02% Union Bank of India 2013 9.87% Axis Bank Limited 2012 9.95% Axis Bank Limited 2012 10.03% Bank of India 2012 9.78% State Bank of Patiala 2011 State Bank of Bikaner & Jaipur 2011 10.31% Union Bank of India 2012 9.80% Bank of India 2012 8.10% State Bank of Patiala 2011 State Bank of Patiala 2011 State Bank of Travancore 2011 9.45% Punjab National Bank 2011 9.55% Oriental Bank of Commerce 2011 9.00% State Bank of India 2011 9.02% Punjab National Bank 2011 State Bank of India 2011 State Bank of India 2012 State Bank of Hyderabad 2012 9.70% Canara Bank 2011 Bank of Baroda 2012 Canara Bank 2011 8.98% State Bank of Patiala 2011 Federal Bank Limited 2011 Indian Bank 2011 Indian Overseas Bank 2011 Axis Bank Limited 2012 ICICI Bank Limited 2012 Asset type FD FD CD FD CD FD FD FD FD FD CD FD FD FD CD CD FD FD FD FD CD CD CD FD CD CD FD CD CD CD CD CD Market value (` 000) 474 463 444 407 406 404 404 404 386 355 331 323 272 244 238 237 237 237 237 236 230 218 203 174 148 134 119 115 111 111 109 98 25,959 21,569 1,132 48,660 % of assets held 0.97% 0.95% 0.91% 0.84% 0.83% 0.83% 0.83% 0.83% 0.79% 0.73% 0.68% 0.66% 0.56% 0.50% 0.49% 0.49% 0.49% 0.49% 0.49% 0.49% 0.47% 0.45% 0.42% 0.36% 0.30% 0.28% 0.24% 0.24% 0.23% 0.23% 0.23% 0.19% 53.34% 44.33% 2.33% 100.00%
Group Leave Encashment Income Fund (as on March 31, 2010) Industry Banking services Security name Axis Bank Limited 2010 7.05% Canara Bank 2011 Allahabad Bank 2010 8% State Bank of Patiala 2010 Bank of India 2011 9.25% IDBI Bank Limited 2014 9.5% Oriental Bank of Commerce 2013 ICICI Bank Limited 2010 Oriental Bank of Commerce 2010 HDFC Bank Limited 2011 7% Canara Bank 2011 Bank of Baroda 2011 6.99% Union Bank of India 2011 Oriental Bank of Commerce 2011 State Bank of Patiala 2010 United Bank of India 2010 Yes Bank Limited 2011 Corporation Bank 2011 Union Bank of India 2010 8.2% Indian Railway Finance Corporation Limited 2016 8.46% Indian Railway Finance Corporation Limited 2014 6.55% National Housing Bank 2012 7.9% Rural Electrification Corporation Limited 2012 10% Infrastructure Development Finance Company Limited 2013 7.15% Rural Electrification Corporation Limited 2012 9.8% Power Finance Corporation Limited 2012 6.42% National Housing Bank 2012 10.75% Power Finance Corporation Limited 2011 11.4% Power Finance Corporation Limited 2013 Power Finance Corporation Limited 2019 8.5% Power Finance Corporation Limited 2014 7.75% Rural Electrification Corporation Limited 2012 8.55% Power Finance Corporation Limited 2011 8.6% Infrastructure Development Finance Company Limited 2011 8.45% Power Finance Corporation Limited 2014 6.9% National Housing Bank 2012 9.05% Infrastructure Development Finance Company Limited 2010 9% Infrastructure Development Finance Company Limited 2010 Asset type CD FD CD FD CD NCD FD CD CD CD FD CD FD CD CD CD CD CD CD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD FRN NCD NCD NCD NCD NCD NCD NCD NCD Market value (` 000) 3,612 2,742 2,602 2,250 1,376 1,223 1,160 1,064 850 810 609 592 430 405 389 306 295 271 50 21,036 1,949 1,545 1,050 764 531 319 288 284 168 150 138 130 58 55 55 54 50 29 25 7,642 % of assets held 7.95% 6.03% 5.73% 4.95% 3.03% 2.69% 2.55% 2.34% 1.87% 1.78% 1.34% 1.30% 0.95% 0.89% 0.86% 0.67% 0.65% 0.60% 0.11% 46.29% 4.29% 3.40% 2.31% 1.68% 1.17% 0.70% 0.63% 0.62% 0.37% 0.33% 0.30% 0.29% 0.13% 0.12% 0.12% 0.12% 0.11% 0.06% 0.06% 16.82%
Financial institutions total
217
financial Report
Group Leave Encashment Income Fund (as on March 31, 2010) Industry Housing finance services Security name 8.25% ICICI Home Finance Company Limited 2014 6.85% LIC Housing Finance Limited 2011 7.35% Housing Development Finance Corporation Limited 2012 Housing Development Finance Corporation Limited 2010 9.45% LIC Housing Finance Limited 2012 9.35% LIC Housing Finance Limited 2014 9.9% Housing Development Finance Corporation Limited 2011 0% Housing Development Finance Corporation Limited 2012 7.64% LIC Housing Finance Limited 2012 7.38% LIC Housing Finance Limited 2011 7.45% LIC Housing Finance Limited 2012 0% Housing Development Finance Corporation Limited 2011 Asset type NCD NCD NCD CP NCD NCD NCD NCD NCD NCD NCD NCD Market value (` 000) 3,293 680 291 274 223 221 157 153 145 144 144 113 5,838 13,517 (2,589) 45,444 % of assets held 7.25% 1.50% 0.64% 0.60% 0.49% 0.49% 0.35% 0.34% 0.32% 0.32% 0.32% 0.25% 12.85% 29.74% (5.70%) 100.00%
Housing finance services total Others Net current assets Grand Total
Group Leave Encashment Short Term Fund (as on March 31, 2011) Industry Banking services Banking services total Others Net current assets Grand Total Security name Oriental Bank of Commerce 2011 10.02% Union Bank of India 2013 10.30% Axis Bank Limited 2013 10.25% Corporation Bank 2012 9.02% Punjab National Bank 2011 8.10% State Bank of Patiala 2011 10.25% Bank of Baroda 2012 9.85% State Bank of India 2013 IDBI Bank Limited 2012 10.35% Canara Bank 2012 State Bank of Hyderabad 2011 9.70% Canara Bank 2011 10.30% Canara Bank 2013 9.95% Axis Bank Limited 2012 9.87% Axis Bank Limited 2012 Union Bank of India 2011 Corporation Bank 2012 Central Bank of India 2011 State Bank of Hyderabad 2012 ICICI Bank Limited 2012 ICICI Bank Limited 2011 8.23% Canara Bank 2011 Asset type CD FD FD FD FD FD FD FD CD FD CD FD FD FD FD CD CD CD CD CD CD FD Market value (` 000) 2,011 1,906 1,789 1,700 1,530 1,440 1,008 891 629 510 488 479 380 137 137 134 127 93 64 43 22 11 15,529 6,370 10,460 32,359 % of assets held 6.21% 5.89% 5.53% 5.25% 4.73% 4.45% 3.11% 2.75% 1.94% 1.58% 1.51% 1.48% 1.17% 0.42% 0.42% 0.41% 0.39% 0.29% 0.20% 0.13% 0.07% 0.03% 47.99% 19.69% 32.32% 100.00%
Group Leave Encashment Short Term Fund (as on March 31, 2010) Industry Others Net current assets Grand Total Security name Asset type Market value (` 000) 92 21,143 21,235 % of assets held 0.43% 99.57% 100.00%
Group Return Guarantee Fund (as on March 31, 2011) Industry Banking services Banking services total Housing finance services Housing finance services total Others Net current assets Grand Total Security name 9.40% Canara Bank 2013 9.50% State Bank of India 2013 9.50% IDBI Bank Limited 2013 9.25% IDBI Bank Limited 2014 9.75% State Bank of Bikaner & Jaipur 2014 9.50% Oriental Bank of Commerce 2013 9.50% State Bank of Patiala 2013 11.35% IDBI Bank Limited 2013 9.50% Canara Bank 2013 9.80% LIC Housing Finance Limited 2017 8.25% ICICI Home Finance Company Limited 2014 10.25% Housing Development Finance Corporation Limited 2017 7.95% Housing Development Finance Corporation Limited 2014 10.00% ICICI Home Finance Company Limited 2013 10.10% Housing Development Finance Corporation Limited 2017 11.15% Housing Development Finance Corporation Limited 2018 Asset type FD FD FD NCD FD FD FD NCD FD NCD NCD NCD NCD NCD NCD NCD Market value (` 000) 159,500 149,246 131,540 63,557 38,400 37,777 23,793 20,554 18,751 643,118 150,395 147,384 122,519 64,772 47,095 31,561 6,520 570,246 1,302,853 163,174 2,679,391 % of assets held 5.95% 5.57% 4.91% 2.37% 1.43% 1.41% 0.89% 0.77% 0.70% 24.00% 5.61% 5.50% 4.57% 2.42% 1.76% 1.18% 0.24% 21.28% 48.62% 6.09% 100.00%
218

Group Return Guarantee Fund (as on March 31, 2010) Industry Banking services Security name 9.5% IDBI Bank Limited 2013 9.5% State Bank of India 2013 9.25% IDBI Bank Limited 2014 9.5% Oriental Bank of Commerce 2013 9.5% Canara Bank 2013 8.25% ICICI Home Finance Company Limited 2014 9.8% LIC Housing Finance Limited 2017 10.25% Housing Development Finance Corporation Limited 2017 9.5% Housing Development Finance Corporation Limited 2017 Asset type FD FD NCD FD FD NCD NCD NCD NCD Market value (` 000) 153,077 134,210 56,937 27,413 11,383 383,020 194,361 166,781 126,221 57,365 544,728 1,516,393 119,678 2,563,819 % of assets held 5.97% 5.23% 2.22% 1.07% 0.44% 14.94% 7.58% 6.51% 4.92% 2.24% 21.25% 59.15% 4.67% 100.00%
Banking services total Housing finance services
Group Return Guarantee Fund - A4 (as on March 31, 2011) Industry Banking services Banking services total Housing finance services Housing finance services total Others Net current assets Grand Total Security name 10.03% Bank of India 2012 10.25% Bank of Baroda 2012 10.35% Canara Bank 2012 10.30% Axis Bank Limited 2013 Punjab National Bank 2012 Oriental Bank of Commerce 2012 Corporation Bank 2012 9.20% Housing Development Finance Corporation Limited 2012 7.45% LIC Housing Finance Limited 2012 Asset type FD FD FD FD CD CD CD NCD NCD Market value (` 000) 6,120 6,120 6,120 6,100 5,858 5,850 5,843 42,011 5,779 5,588 11,367 10,727 1,048 65,153 % of assets held 9.39% 9.39% 9.39% 9.36% 8.99% 8.98% 8.97% 64.48% 8.87% 8.58% 17.45% 16.46% 1.61% 100.00%
Group Return Guarantee Fund - S5 (as on March 31, 2011) Industry Net current assets Grand Total Security name Asset type Market value (` 000) 124,763 124,763 % of assets held 100.00% 100.00%
Group Return Guarantee Fund - S6 (as on March 31, 2011) Industry Net current assets Grand Total Security name Asset type Market value (` 000) 208 208 % of assets held 100.00% 100.00%
Group Return Guarantee Fund II (as on March 31, 2011) Industry Banking services Banking services total Housing finance services Housing finance services total Securities and stock traders Securities and stock traders total Others Net current assets Grand Total Security name 9.50% State Bank of India 2013 9.50% Canara Bank 2013 9.50% Oriental Bank of Commerce 2013 9.50% IDBI Bank Limited 2013 9.50% State Bank of Patiala 2013 8.25% ICICI Home Finance Company Limited 2014 9.20% Housing Development Finance Corporation Limited 2018 9.80% LIC Housing Finance Limited 2017 10.25% Housing Development Finance Corporation Limited 2017 11.08% LIC Housing Finance Limited 2018 10.30% Tata Sons Limited 2014 9.90% ICICI Securities Primary Dealership Limited 2014 Asset type FD FD FD FD FD NCD NCD NCD NCD NCD NCD NCD Market value (` 000) 10,800 10,710 9,775 7,500 854 39,639 8,457 7,597 3,892 3,553 43 23,542 10,280 4,677 14,957 33,028 13,422 124,588 % of assets held 8.67% 8.60% 7.85% 6.02% 0.68% 31.82% 6.79% 6.10% 3.12% 2.85% 0.03% 18.90% 8.25% 3.75% 12.01% 26.51% 10.77% 100.00%
219
financial Report
Group Return Guarantee Fund II (as on March 31, 2010) Industry Banking services Security name 9.85% HDFC Bank Limited 2024 9.5% Canara Bank 2013 9.5% State Bank of India 2013 9.5% Oriental Bank of Commerce 2013 9.25% IDBI Bank Limited 2014 8.25% ICICI Home Finance Company Limited 2014 9.2% Housing Development Finance Corporation Limited 2018 9.8% LIC Housing Finance Limited 2017 11.08% LIC Housing Finance Limited 2018 Asset type NCD FD FD FD NCD NCD NCD NCD NCD Market value (` 000) 11,273 10,890 10,800 10,440 8,532 51,935 8,651 7,846 4,204 45 20,746 38,647 7,893 119,221 % of assets held 9.46% 9.13% 9.06% 8.76% 7.16% 43.56% 7.26% 6.58% 3.53% 0.04% 17.40% 32.42% 6.62% 100.00%
Group Return Guarantee Fund III (as on March 31, 2011) Industry Housing finance services Housing finance services total Financial institutions Financial institutions total Banking services Banking services total Others Net current assets Grand Total Security name 10.25% Housing Development Finance Corporation Limited 2017 10.00% ICICI Home Finance Company Limited 2013 9.70% LIC Housing Finance Limited 2013 9.25% Housing Development Finance Corporation Limited 2016 9.80% LIC Housing Finance Limited 2017 11.10% Power Finance Corporation Limited 2013 10.90% Rural Electrification Corporation Limited 2013 9.81% Indian Railway Finance Corporation Limited 2017 8.50% Power Finance Corporation Limited 2014 8.65% Rural Electrification Corporation Limited 2019 9.85% HDFC Bank Limited 2019 10.10% Axis Bank Limited 2017 9.20% Canara Bank 2015 9.75% State Bank of Bikaner & Jaipur 2014 9.50% State Bank of Patiala 2013 NCD NCD FD FD FD NCD NCD NCD NCD NCD Asset type NCD NCD NCD NCD NCD Market value (` 000) 118,743 105,413 99,851 89,382 64,285 477,674 144,848 128,181 34,138 19,488 5,898 332,553 156,424 75,703 44,400 19,200 11,158 306,885 1,054,166 99,069 2,270,347 % of assets held 5.23% 4.64% 4.40% 3.94% 2.83% 21.04% 6.38% 5.65% 1.50% 0.86% 0.26% 14.65% 6.89% 3.33% 1.96% 0.85% 0.49% 13.52% 46.43% 4.36% 100.00%
Group Return Guarantee Fund III (as on March 31, 2010) Industry Banking services Security name 9.85% HDFC Bank Limited 2024 10.1% Axis Bank Limited 2017 9.25% IDBI Bank Limited 2014 11.1% Power Finance Corporation Limited 2013 8.83% Indian Railway Finance Corporation Limited 2012 10.9% Rural Electrification Corporation Limited 2013 9.81% Indian Railway Finance Corporation Limited 2017 8.5% Power Finance Corporation Limited 2014 8.6% Power Finance Corporation Limited 2014 8.65% Rural Electrification Corporation Limited 2019 9.7% LIC Housing Finance Limited 2013 9.5% Housing Development Finance Corporation Limited 2017 9.25% Housing Development Finance Corporation Limited 2016 9.8% LIC Housing Finance Limited 2017 10% ICICI Home Finance Company Limited 2013 9.9% ICICI Securities Primary Dealership Limited 2014 8.85% Tata Sons Limited 2016 Asset type NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD Market value (` 000) 169,387 77,896 63,740 311,023 153,520 103,485 74,158 35,017 20,061 10,080 6,013 402,334 104,640 103,547 92,076 69,361 52,487 422,111 169,127 101,652 270,779 676,303 90,525 2,173,075 % of assets held 7.79% 3.58% 2.93% 14.31% 7.06% 4.76% 3.41% 1.61% 0.92% 0.46% 0.28% 18.51% 4.82% 4.76% 4.24% 3.19% 2.42% 19.42% 7.78% 4.68% 12.46% 31.12% 4.17% 100.00%
Financial institutions total Housing finance services
Housing finance services total Securities and stock traders Securities and stock traders total Others Net current assets Grand Total
220

Group Short Term Debt fund (as on March 31, 2011) Industry Banking services Banking services total Others Net current assets Grand Total Security name Uco Bank 2011 Oriental Bank of Commerce 2012 10.25% Bank of Baroda 2012 9.85% State Bank of India 2013 Corporation Bank 2012 Bank of India 2011 Punjab National Bank 2012 Axis Bank Limited 2011 9.70% Canara Bank 2011 10.35% Canara Bank 2012 Punjab National Bank 2011 Union Bank of India 2011 Oriental Bank of Commerce 2011 State Bank of Hyderabad 2011 IDBI Bank Limited 2012 Axis Bank Limited 2012 10.30% Canara Bank 2013 State Bank of Travancore 2011 9.87% Axis Bank Limited 2012 9.95% Axis Bank Limited 2012 10.30% Axis Bank Limited 2013 10.02% Union Bank of India 2013 Central Bank of India 2011 State Bank of Hyderabad 2012 State Bank of Bikaner & Jaipur 2011 State Bank of Mysore 2011 ICICI Bank Limited 2012 Asset type CD CD FD FD CD CD CD CD FD FD CD CD CD CD CD CD FD CD FD FD FD FD CD CD CD CD CD Market value (` 000) 336,745 274,219 259,422 257,139 232,292 214,936 204,935 147,936 137,825 136,964 136,826 133,419 130,577 128,516 124,209 120,236 102,000 77,251 39,271 38,863 36,484 36,319 18,340 17,088 10,428 9,210 8,529 3,369,979 1,082,837 182,573 4,635,389 % of assets held 7.26% 5.92% 5.60% 5.55% 5.01% 4.64% 4.42% 3.19% 2.97% 2.95% 2.95% 2.88% 2.82% 2.77% 2.68% 2.59% 2.20% 1.67% 0.85% 0.84% 0.79% 0.78% 0.40% 0.37% 0.22% 0.20% 0.18% 72.70% 23.36% 3.94% 100.00%
Group Short Term Debt Fund (as on March 31, 2010) Industry Banking services Security name Allahabad Bank 2010 Oriental Bank of Commerce 2010 7.25% State Bank of Indore 2010 State Bank of Patiala 2010 ICICI Bank Limited 2010 Union Bank of India 2010 Corporation Bank 2010 State Bank of Travancore 2010 Axis Bank Limited 2010 Bank of Baroda 2010 Bank of Baroda 2011 7% Canara Bank 2011 Corporation Bank 2011 7.05% Canara Bank 2011 Punjab National Bank 2010 IDBI Bank Limited 2010 6.99% Union Bank of India 2011 Axis Bank Limited 2011 State Bank of Bikaner & Jaipur 2010 Bank of India 2011 Andhra Bank 2010 8% State Bank of Patiala 2010 United Bank of India 2010 Yes Bank Limited 2011 Export-Import Bank of India 2010 Rural Electrification Corporation Limited 2010 NABARD 2010 National Housing Bank 2010 9.68% Indian Railway Finance Corporation Limited 2010 9.05% Infrastructure Development Finance Company Limited 2010 Asset type CD CD FD CD CD CD CD CD CD CD CD FD CD FD CD CD FD CD CD CD CD FD CD CD CD CP CP CP NCD NCD Market value (` 000) 519,227 442,691 374,900 369,853 359,116 336,056 267,582 251,428 211,660 189,364 164,761 142,506 128,571 113,900 112,989 106,655 99,000 95,330 85,021 80,249 77,718 54,000 21,598 20,793 4,624,968 498,293 249,271 167,008 87,097 40,325 9,136 1,051,130 470,582 486,081 6,632,761 % of assets held 7.83% 6.67% 5.65% 5.58% 5.41% 5.07% 4.03% 3.79% 3.19% 2.85% 2.48% 2.15% 1.94% 1.72% 1.70% 1.61% 1.49% 1.44% 1.28% 1.21% 1.17% 0.81% 0.33% 0.31% 69.73% 7.51% 3.76% 2.52% 1.31% 0.61% 0.14% 15.85% 7.09% 7.33% 100.00%
221
financial Report
Group Superannuation Corporate Bond Fund (as on March 31, 2011) Industry Banking services Banking services total Housing finance services Housing finance services total Others Net current assets Grand Total Security name 9.95% State Bank of India 2021 9.75% State Bank of Bikaner & Jaipur 2016 10.84% HDFC Bank Limited 2017 9.20% Canara Bank 2015 9.50% Canara Bank 2019 Oriental Bank of Commerce 2012 Punjab National Bank 2012 9.70% Housing Development Finance Corporation Limited 2016 9.60% LIC Housing Finance Limited 2021 9.80% LIC Housing Finance Limited 2017 9.20% Housing Development Finance Corporation Limited 2018 10.35% Housing Development Finance Corporation Limited 2017 Asset type NCD FD NCD FD FD CD CD NCD NCD NCD NCD NCD Market value (` 000) 144,722 143,400 142,068 73,751 70,000 56,672 33,866 664,479 85,290 74,519 68,613 49,835 9,619 287,876 585,633 29,370 1,567,358 % of assets held 9.23% 9.15% 9.06% 4.71% 4.47% 3.62% 2.16% 42.39% 5.44% 4.75% 4.38% 3.18% 0.61% 18.37% 37.36% 1.87% 100.00%
Health Balancer Fund (as on March 31, 2011) Industry Banking services Security name Corporation Bank 2012 Bank of Baroda 2012 Bank of Baroda 2011 Punjab National Bank 2012 10.31% Union Bank of India 2012 9.85% State Bank of India 2013 State Bank of Mysore 2011 Andhra Bank 2011 Punjab National Bank HDFC Bank Limited Bank of India 2011 ICICI Bank Limited 2011 Allahabad Bank 10.35% Canara Bank 2012 State Bank of Bikaner & Jaipur 2012 Bank of Baroda 9.70% Canara Bank 2011 Kotak Mahindra Bank Limited 9.85% Bank of India 2011 Axis Bank Limited Corporation Bank 2011 9.95% State Bank of India 2021 Central Bank of India 2011 Oriental Bank of Commerce 2011 Bank of India 2012 State Bank of Hyderabad 2011 Union Bank of India 2011 10.30% Canara Bank 2013 State Bank of India 8.25% Canara Bank 2011 9.80% Bank of India 2011 9.70% Canara Bank 2012 9.58% Bank of India 2011 Syndicate Bank 2011 10.30% Axis Bank Limited 2013 10.02% Union Bank of India 2013 9.87% Axis Bank Limited 2012 9.95% Axis Bank Limited 2012 10.03% Bank of India 2012 10.30% IDBI Bank Limited 2012 9.78% State Bank of Patiala 2011 State Bank of Bikaner & Jaipur 2011 Jammu & Kashmir Bank Limited 9.80% Bank of India 2012 State Bank of India 2012 8.10% State Bank of Patiala 2011 State Bank of India 2011 9.45% Punjab National Bank 2011 9.55% Oriental Bank of Commerce 2011 State Bank of Patiala 2011 State Bank of Travancore 2011 9.00% State Bank of India 2011 9.02% Punjab National Bank 2011 Asset type CD CD CD CD FD FD CD CD Equity Equity CD CD Equity FD CD Equity FD Equity FD Equity CD NCD CD CD CD CD CD FD Equity FD FD FD FD CD FD FD FD FD FD NCD FD CD Equity FD CD FD CD FD FD CD CD FD FD Market value (` 000) 2,654 2,324 2,260 2,106 2,073 1,957 1,670 1,636 1,281 1,257 1,168 1,038 1,034 959 898 835 788 781 679 626 543 519 518 496 490 404 382 378 351 341 340 338 337 317 315 310 306 300 296 290 254 240 219 198 191 170 170 167 167 166 166 166 165 % of assets held 3.65% 3.19% 3.10% 2.89% 2.85% 2.69% 2.29% 2.25% 1.76% 1.73% 1.60% 1.43% 1.42% 1.32% 1.23% 1.15% 1.08% 1.07% 0.93% 0.86% 0.75% 0.71% 0.71% 0.68% 0.67% 0.56% 0.52% 0.52% 0.48% 0.47% 0.47% 0.46% 0.46% 0.44% 0.43% 0.43% 0.42% 0.41% 0.41% 0.40% 0.35% 0.33% 0.30% 0.27% 0.26% 0.23% 0.23% 0.23% 0.23% 0.23% 0.23% 0.23% 0.23%
222

Health Balancer Fund (as on March 31, 2011) Industry Banking services total Others Net current assets Grand Total Security name State Bank of Hyderabad 2012 8.98% State Bank of Patiala 2011 Federal Bank Limited 2011 Canara Bank 2011 ICICI Bank Limited 2012 Axis Bank Limited 2012 Indian Bank 2011 Indian Overseas Bank 2011 Canara Bank 8.47% IDBI Bank Limited 2011 Asset type CD FD CD CD CD CD CD CD Equity NCD Market value (` 000) 153 86 85 82 81 81 79 79 62 10 38,832 31,191 2,783 72,806 % of assets held 0.21% 0.12% 0.12% 0.11% 0.11% 0.11% 0.11% 0.11% 0.09% 0.01% 53.34% 42.84% 3.82% 100.00%
Health Balancer Fund (as on March 31, 2010) Industry Banking services Security name State Bank of Patiala 2010 Bank of India 2011 Axis Bank Limited 2010 Union Bank of India 2010 9.5% Oriental Bank of Commerce 2013 ICICI Bank Limited 2010 Allahabad Bank 2010 Bank of Baroda 2011 HDFC Bank Limited 7.05% Canara Bank 2011 Oriental Bank of Commerce 2010 9.8% ICICI Bank Limited 2013 United Bank of India 2010 7% Canara Bank 2011 Yes Bank Limited 2011 HDFC Bank Limited 2011 Axis Bank Limited 9.25% IDBI Bank Limited 2014 State Bank of India 10.3% IDBI Bank Limited 2012 Bank of Baroda Punjab National Bank 6.99% Union Bank of India 2011 Oriental Bank of Commerce 2011 Corporation Bank 2011 Union Bank of India 8.47% IDBI Bank Limited 2013 Asset type CD CD CD CD FD CD CD CD Equity FD CD NCD CD FD CD CD Equity NCD Equity NCD Equity Equity FD CD CD Equity NCD Market value (` 000) 1,826 1,753 1,749 1,557 1,219 1,019 888 844 737 722 666 484 437 432 421 357 352 339 337 305 192 182 171 160 105 40 11 17,305 18,285 2,796 38,386 % of assets held 4.76% 4.57% 4.56% 4.06% 3.18% 2.65% 2.31% 2.20% 1.92% 1.88% 1.74% 1.26% 1.14% 1.13% 1.10% 0.93% 0.92% 0.88% 0.88% 0.79% 0.50% 0.47% 0.45% 0.42% 0.27% 0.10% 0.03% 45.08% 47.63% 7.28% 100.00%
Health Flexi Balanced Fund (as on March 31, 2011) Industry Banking services Security name Corporation Bank 2012 Bank of Baroda 2012 Punjab National Bank 2012 ICICI Bank Limited 2011 Bank of Baroda 2011 10.31% Union Bank of India 2012 State Bank of Mysore 2011 Andhra Bank 2011 HDFC Bank Limited 9.85% State Bank of India 2013 State Bank of India Bank of India 2011 Axis Bank Limited State Bank of Bikaner & Jaipur 2012 10.35% Canara Bank 2012 9.70% Canara Bank 2011 9.85% Bank of India 2011 9.95% State Bank of India 2021 Corporation Bank 2011 Central Bank of India 2011 Bank of India 2012 Asset type CD CD CD CD CD FD CD CD Equity FD Equity CD Equity CD FD FD FD NCD CD CD CD Market value (` 000) 2,572 2,188 1,969 1,929 1,864 1,785 1,662 1,629 1,377 1,232 1,106 1,039 786 770 711 494 427 417 379 365 317 % of assets held 3.77% 3.21% 2.89% 2.83% 2.74% 2.62% 2.44% 2.39% 2.02% 1.81% 1.62% 1.52% 1.15% 1.13% 1.04% 0.73% 0.63% 0.61% 0.56% 0.53% 0.46%
223
financial Report
Health Flexi Balanced Fund (as on March 31, 2011) Industry Banking services total Others Net current assets Grand Total Security name Oriental Bank of Commerce 2011 Axis Bank Limited 2011 Bank of Baroda 10.30% Canara Bank 2013 Union Bank of India 2011 State Bank of Hyderabad 2011 10.30% Axis Bank Limited 2013 10.02% Union Bank of India 2013 9.70% Canara Bank 2012 9.80% Bank of India 2011 9.58% Bank of India 2011 10.03% Bank of India 2012 8.25% Canara Bank 2011 Syndicate Bank 2011 9.87% Axis Bank Limited 2012 9.95% Axis Bank Limited 2012 9.78% State Bank of Patiala 2011 State Bank of India 2012 State Bank of Bikaner & Jaipur 2011 Punjab National Bank 9.80% Bank of India 2012 State Bank of Hyderabad 2012 State Bank of India 2011 9.45% Punjab National Bank 2011 9.55% Oriental Bank of Commerce 2011 9.00% State Bank of India 2011 9.02% Punjab National Bank 2011 8.10% State Bank of Patiala 2011 State Bank of Travancore 2011 State Bank of Patiala 2011 ICICI Bank Limited 2012 Federal Bank Limited 2011 Axis Bank Limited 2012 8.98% State Bank of Patiala 2011 Indian Overseas Bank 2011 Indian Bank 2011 Canara Bank 2011 8.47% IDBI Bank Limited 2011 Asset type CD CD Equity FD CD CD FD FD FD FD FD FD FD CD FD FD FD CD CD Equity FD CD CD FD FD FD FD FD CD CD CD CD CD FD CD CD CD NCD Market value (` 000) 311 311 289 287 265 255 228 215 212 212 211 205 200 200 194 193 158 155 152 133 122 115 110 105 105 103 103 101 97 97 66 56 53 52 50 50 48 6 30,843 34,152 3,163 68,158 % of assets held 0.46% 0.46% 0.42% 0.42% 0.39% 0.37% 0.33% 0.31% 0.31% 0.31% 0.31% 0.30% 0.29% 0.29% 0.29% 0.28% 0.23% 0.23% 0.22% 0.20% 0.18% 0.17% 0.16% 0.15% 0.15% 0.15% 0.15% 0.15% 0.14% 0.14% 0.10% 0.08% 0.08% 0.08% 0.07% 0.07% 0.07% 0.01% 45.25% 50.11% 4.64% 100.00%
Health Flexi Balanced Fund (as on March 31, 2010) Industry Banking services Security name State Bank of Patiala 2010 Axis Bank Limited 2010 Bank of India 2011 Union Bank of India 2010 HDFC Bank Limited ICICI Bank Limited 2010 Allahabad Bank 2010 6.99% Union Bank of India 2011 Bank of Baroda 2011 7.05% Canara Bank 2011 Oriental Bank of Commerce 2010 9.8% ICICI Bank Limited 2013 State Bank of India United Bank of India 2010 Yes Bank Limited 2011 Axis Bank Limited 7% Canara Bank 2011 HDFC Bank Limited 2011 9.25% IDBI Bank Limited 2014 Punjab National Bank Oriental Bank of Commerce 2011 Corporation Bank 2011 8.47% IDBI Bank Limited 2013 Asset type CD CD CD CD Equity CD CD FD CD FD CD NCD Equity CD CD Equity FD CD NCD Equity CD CD NCD Market value (` 000) 1,670 1,573 1,465 1,236 903 801 619 604 589 461 448 374 312 305 293 257 236 227 195 111 97 63 6 12,845 19,569 2,011 34,425 % of assets held 4.85% 4.57% 4.26% 3.59% 2.62% 2.33% 1.80% 1.75% 1.71% 1.34% 1.30% 1.09% 0.91% 0.89% 0.85% 0.75% 0.69% 0.66% 0.57% 0.32% 0.28% 0.18% 0.02% 37.31% 56.85% 5.84% 100.00%
224

Health Flexi Growth Fund (as on March 31, 2011) Industry Banking services Banking services total Others Net current assets Grand Total HDFC Bank Limited State Bank of India Bank of Baroda Axis Bank Limited Punjab National Bank Union Bank of India Security name Asset type Equity Equity Equity Equity Equity Equity Market value (` 000) 56,347 31,524 30,393 25,690 4,851 4,516 153,321 1,024,473 44,853 1,222,647 % of assets held 4.61% 2.58% 2.49% 2.10% 0.40% 0.37% 12.54% 83.79% 3.67% 100.00%
Health Flexi Growth Fund (as on March 31, 2010) Industry Banking services Syndicate Bank 2010 HDFC Bank Limited Axis Bank Limited State Bank of India Punjab National Bank Union Bank of India Bank of Baroda Security name Asset type CD Equity Equity Equity Equity Equity Equity Market value (` 000) 50,857 37,201 32,629 10,391 4,051 3,800 2,556 141,485 500,802 30,394 672,681 % of assets held 7.56% 5.53% 4.85% 1.54% 0.60% 0.56% 0.38% 21.03% 74.45% 4.52% 100.00%
Health Multiplier Fund (as on March 31, 2011) Industry Banking services Banking services total Computer software Computer software total Others Net current assets Grand Total Security name HDFC Bank Limited Bank of Baroda Allahabad Bank Punjab National Bank Kotak Mahindra Bank Limited Axis Bank Limited State Bank of India Canara Bank Bank of India Infosys Technologies Limited Tata Consultancy Services Limited HCL Technologies Limited Wipro Limited Asset type Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Market value (` 000) 8,262 5,924 5,744 5,638 4,883 3,931 2,326 812 391 37,911 14,962 8,594 3,385 1,601 28,542 99,702 3,430 169,585 % of assets held 4.87% 3.49% 3.39% 3.32% 2.88% 2.32% 1.37% 0.48% 0.23% 22.36% 8.82% 5.07% 2.00% 0.94% 16.83% 58.79% 2.02% 100.00%
Health Multiplier Fund (as on March 31, 2010) Industry Others Net current assets Grand Total Security name Asset type Market value (` 000) 90,158 4,694 94,852 % of assets held 95.05% 4.95% 100.00%
Health Preserver Fund (as on March 31, 2011) Industry Banking services Security name Oriental Bank of Commerce 2012 10.25% Bank of Baroda 2012 Uco Bank 2011 Corporation Bank 2012 9.85% State Bank of India 2013 Axis Bank Limited 2012 Union Bank of India 2011 Punjab National Bank 2012 ICICI Bank Limited 2011 10.35% Canara Bank 2012 Asset type CD FD CD CD FD CD CD CD CD FD Market value (` 000) 914 779 777 648 605 582 564 471 440 399 % of assets held 6.28% 5.35% 5.34% 4.45% 4.16% 4.00% 3.87% 3.24% 3.03% 2.74%
225
financial Report
Health Preserver Fund (as on March 31, 2011) Industry Banking services total Other financial services Other financial services total Others Net current assets Grand Total Security name Punjab National Bank 2011 Corporation Bank 2011 IDBI Bank Limited 2012 State Bank of Hyderabad 2011 Bank of India 2011 Oriental Bank of Commerce 2011 HDFC Bank Limited 2011 9.70% Canara Bank 2011 10.30% Canara Bank 2013 State Bank of Travancore 2011 8.23% Canara Bank 2011 State Bank of Mysore 2011 10.30% Axis Bank Limited 2013 10.02% Union Bank of India 2013 9.95% Axis Bank Limited 2012 9.87% Axis Bank Limited 2012 Central Bank of India 2011 State Bank of Hyderabad 2012 ICICI Bank Limited 2012 Religare Finvest Limited 2011 Edelweiss Capital Limited 2011 Asset type CD CD CD CD CD CD CD FD FD CD FD CD FD FD FD FD CD CD CD CP CP Market value (` 000) 390 387 385 378 359 334 334 308 220 190 165 130 104 100 95 94 57 50 23 10,282 821 694 1,515 2,305 446 14,548 % of assets held 2.68% 2.66% 2.65% 2.60% 2.46% 2.29% 2.29% 2.12% 1.51% 1.31% 1.13% 0.89% 0.71% 0.69% 0.65% 0.65% 0.39% 0.34% 0.18% 70.67% 5.64% 4.77% 10.41% 15.84% 3.07% 100.00%
Health Preserver Fund (as on March 31, 2010) Industry Banking services Security name State Bank of Travancore 2010 7.25% State Bank of Indore 2010 State Bank of Patiala 2010 Corporation Bank 2010 ICICI Bank Limited 2010 Andhra Bank 2010 Axis Bank Limited 2010 Allahabad Bank 2010 Bank of Baroda 2010 Oriental Bank of Commerce 2010 7% Canara Bank 2011 Punjab National Bank 2010 9.5% Oriental Bank of Commerce 2013 Bank of India 2011 Axis Bank Limited 2011 7.05% Canara Bank 2011 Union Bank of India 2010 9.5% IDBI Bank Limited 2013 State Bank of Bikaner & Jaipur 2010 Corporation Bank 2011 IDBI Bank Limited 2010 Asset type CD FD CD CD CD CD CD CD CD CD FD CD FD CD CD FD CD FD CD CD CD Market value (` 000) 483 454 453 451 435 389 356 347 322 322 293 293 243 233 191 183 151 130 87 78 55 5,949 623 428 7,000 % of assets held 6.90% 6.49% 6.47% 6.44% 6.21% 5.56% 5.09% 4.96% 4.60% 4.60% 4.19% 4.19% 3.47% 3.33% 2.73% 2.61% 2.16% 1.86% 1.24% 1.11% 0.79% 84.99% 8.90% 6.11% 100.00%
Health Protector Fund (as on March 31, 2011) Industry Banking services Security name HDFC Bank Limited 2011 9.85% State Bank of India 2013 Axis Bank Limited 2012 10.35% Canara Bank 2012 Punjab National Bank 2012 Bank of India 2011 Corporation Bank 2012 Oriental Bank of Commerce 2011 ICICI Bank Limited 2011 9.85% Bank of India 2011 9.70% Canara Bank 2011 Corporation Bank 2011 Central Bank of India 2011 9.95% State Bank of India 2021 Axis Bank Limited 2011 Bank of India 2012 Bank of Baroda 2011 State Bank of Hyderabad 2011 Asset type CD FD CD FD CD CD CD CD CD FD FD CD CD NCD CD CD CD CD Market value (` 000) 28,236 15,898 8,518 7,829 7,669 7,048 7,020 6,683 6,320 5,674 5,211 4,397 4,212 4,150 4,107 3,999 3,800 3,280 % of assets held 8.06% 4.54% 2.43% 2.24% 2.19% 2.01% 2.00% 1.91% 1.80% 1.62% 1.49% 1.26% 1.20% 1.19% 1.17% 1.14% 1.09% 0.94%
226

Health Protector Fund (as on March 31, 2011) Industry Banking services total Others Net current assets Grand Total Security name State Bank of Mysore 2011 Bank of Baroda 2012 Andhra Bank 2011 Union Bank of India 2011 10.30% Canara Bank 2013 9.80% Bank of India 2011 9.58% Bank of India 2011 8.25% Canara Bank 2011 Syndicate Bank 2011 10.30% Axis Bank Limited 2013 10.02% Union Bank of India 2013 9.95% Axis Bank Limited 2012 9.87% Axis Bank Limited 2012 10.03% Bank of India 2012 9.78% State Bank of Patiala 2011 10.30% IDBI Bank Limited 2012 State Bank of Bikaner & Jaipur 2011 State Bank of Bikaner & Jaipur 2012 9.80% Bank of India 2012 State Bank of India 2012 9.45% Punjab National Bank 2011 9.55% Oriental Bank of Commerce 2011 9.00% State Bank of India 2011 9.02% Punjab National Bank 2011 State Bank of India 2011 8.10% State Bank of Patiala 2011 State Bank of Patiala 2011 State Bank of Travancore 2011 State Bank of Hyderabad 2012 10.31% Union Bank of India 2012 8.98% State Bank of Patiala 2011 Federal Bank Limited 2011 Indian Bank 2011 Indian Overseas Bank 2011 9.50% Canara Bank 2013 Canara Bank 2011 ICICI Bank Limited 2012 9.70% Canara Bank 2012 9.50% State Bank of India 2013 8.47% IDBI Bank Limited 2011 Asset type CD CD CD CD FD FD FD FD CD FD FD FD FD FD FD NCD CD CD FD CD FD FD FD FD CD FD CD CD CD FD FD CD CD CD FD CD CD FD FD NCD Market value (` 000) 3,230 3,196 3,165 3,059 3,045 2,849 2,846 2,766 2,671 2,620 2,560 2,469 2,458 2,441 2,134 2,021 1,998 1,860 1,634 1,504 1,424 1,424 1,415 1,412 1,395 1,379 1,328 1,328 1,239 1,193 710 699 668 667 650 650 646 250 104 70 203,228 131,365 15,602 350,195 % of assets held 0.92% 0.91% 0.90% 0.87% 0.87% 0.81% 0.81% 0.79% 0.76% 0.75% 0.73% 0.70% 0.70% 0.70% 0.61% 0.58% 0.57% 0.53% 0.47% 0.43% 0.41% 0.41% 0.40% 0.40% 0.40% 0.39% 0.38% 0.38% 0.35% 0.34% 0.20% 0.20% 0.19% 0.19% 0.19% 0.19% 0.18% 0.07% 0.03% 0.02% 58.03% 37.51% 4.46% 100.00%
Health Protector Fund (as on March 31, 2010) Industry Banking services Security name Allahabad Bank 2010 Bank of India 2011 State Bank of Patiala 2010 Union Bank of India 2010 ICICI Bank Limited 2010 7.05% Canara Bank 2011 9.8% ICICI Bank Limited 2013 Oriental Bank of Commerce 2010 9.5% Oriental Bank of Commerce 2013 7% Canara Bank 2011 Axis Bank Limited 2010 Bank of Baroda 2011 HDFC Bank Limited 2011 9.25% IDBI Bank Limited 2014 6.99% Union Bank of India 2011 10.3% IDBI Bank Limited 2012 United Bank of India 2010 Yes Bank Limited 2011 Oriental Bank of Commerce 2011 Corporation Bank 2011 9.5% Canara Bank 2013 9.5% State Bank of India 2013 8.47% IDBI Bank Limited 2013 8.88% Infrastructure Development Finance Company Limited 2011 6.55% National Housing Bank 2012 7.15% Rural Electrification Corporation Limited 2012 7.9% Rural Electrification Corporation Limited 2012 Asset type CD CD CD CD CD FD NCD CD FD FD CD CD CD NCD FD NCD CD CD CD CD FD FD NCD NCD NCD NCD NCD Market value (` 000) 11,544 9,815 9,141 7,677 6,999 5,642 3,963 3,650 3,620 3,587 3,461 3,449 2,769 2,520 2,383 2,125 1,785 1,719 1,296 841 650 125 72 88,833 4,130 3,032 2,965 2,545 % of assets held 6.11% 5.19% 4.84% 4.06% 3.70% 2.98% 2.10% 1.93% 1.92% 1.90% 1.83% 1.82% 1.46% 1.33% 1.26% 1.12% 0.94% 0.91% 0.69% 0.44% 0.34% 0.07% 0.04% 47.00% 2.19% 1.60% 1.57% 1.35%
227
financial Report
Health Protector Fund (as on March 31, 2010) Industry Security name 8.95% Infrastructure Development Finance Company Limited 2013 11.5% Rural Electrification Corporation Limited 2013 6.42% National Housing Bank 2012 11.4% Power Finance Corporation Limited 2013 8.46% Indian Railway Finance Corporation Limited 2014 9.8% Power Finance Corporation Limited 2012 10.9% Rural Electrification Corporation Limited 2013 10.75% Rural Electrification Corporation Limited 2013 10.75% Power Finance Corporation Limited 2011 6.9% National Housing Bank 2012 Power Finance Corporation Limited 2019 8.5% Power Finance Corporation Limited 2014 9.76% Indian Railway Finance Corporation Limited 2012 8.4% Indian Railway Finance Corporation Limited 2013 8.75% Indian Railway Finance Corporation Limited 2013 11.1% Power Finance Corporation Limited 2013 8.94% Power Finance Corporation Limited 2013 9.5% Export-Import Bank of India 2013 7.75% Rural Electrification Corporation Limited 2012 8.6% Infrastructure Development Finance Company Limited 2011 8.55% Power Finance Corporation Limited 2011 8.45% Power Finance Corporation Limited 2014 9.05% Infrastructure Development Finance Company Limited 2010 9.45% Rural Electrification Corporation Limited 2013 9% Infrastructure Development Finance Company Limited 2010 Financial institutions total Others Net current assets Grand Total Asset type NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD FRN NCD NCB NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD Market value (` 000) 1,443 1,017 973 954 954 752 698 541 473 403 357 337 244 242 202 198 183 170 161 159 154 147 98 98 85 23,715 73,994 2,473 189,015 % of assets held 0.76% 0.54% 0.51% 0.50% 0.50% 0.40% 0.37% 0.29% 0.25% 0.21% 0.19% 0.18% 0.13% 0.13% 0.11% 0.10% 0.10% 0.09% 0.09% 0.08% 0.08% 0.08% 0.05% 0.05% 0.04% 12.55% 39.15% 1.31% 100.00%
Health Return Guarantee Fund (as on March 31, 2011) Industry Banking services Banking services total Housing finance services Housing finance services total Securities and stock traders Securities and stock traders total Others Net current assets Grand Total Security name 9.50% Oriental Bank of Commerce 2013 9.50% IDBI Bank Limited 2013 9.50% State Bank of India 2013 9.50% State Bank of Patiala 2013 9.50% Canara Bank 2013 9.20% Canara Bank 2015 8.25% ICICI Home Finance Company Limited 2014 8.28% LIC Housing Finance Limited 2015 10.30% Tata Sons Limited 2014 9.90% ICICI Securities Primary Dealership Limited 2014 Asset type FD FD FD FD FD FD NCD NCD NCD NCD Market value (` 000) 2,858 2,728 2,711 1,881 1,870 621 12,669 2,643 620 3,263 2,831 501 3,332 8,101 3,156 30,521 % of assets held 9.36% 8.94% 8.88% 6.16% 6.13% 2.03% 41.51% 8.66% 2.03% 10.69% 9.28% 1.64% 10.92% 26.54% 10.34% 100.00%
Health Return Guarantee Fund (as on March 31, 2010) Industry Banking services Security name 9.5% State Bank of India 2013 9.5% Oriental Bank of Commerce 2013 9.5% IDBI Bank Limited 2013 9.5% Canara Bank 2013 Banking services total Housing finance services Housing finance services total Refinery Refinery total Others Net current assets Grand Total 8.25% ICICI Home Finance Company Limited 2014 9.75% LIC Housing Finance Limited 2017 10.9% Reliance Gas Transportation Infrastructure Limited 2014 11.45% Reliance Industries Limited 2013 Asset type FD FD FD FD NCD NCD NCD NCD Market value (` 000) 3,366 3,278 3,273 2,939 12,856 3,391 790 4,181 3,292 420 3,712 11,684 2,503 34,936 % of assets held 9.63% 9.38% 9.37% 8.41% 36.80% 9.71% 2.26% 11.97% 9.42% 1.20% 10.63% 33.44% 7.16% 100.00%
228

Health Return Guarantee Fund II (as on March 31, 2011) Industry Banking services Banking services total Housing finance services Housing finance services total Others Net current assets Grand Total Security name 9.50% Oriental Bank of Commerce 2013 9.40% Canara Bank 2013 9.50% State Bank of India 2013 9.50% IDBI Bank Limited 2013 11.35% IDBI Bank Limited 2013 10.25% ICICI Home Finance Company Limited 2014 9.75% LIC Housing Finance Limited 2017 10.25% Housing Development Finance Corporation Limited 2017 10.35% Housing Development Finance Corporation Limited 2017 Asset type FD FD FD FD NCD NCD NCD NCD NCD Market value (` 000) 2,940 1,800 1,715 1,542 1,093 9,090 2,954 2,337 1,245 812 7,348 12,954 2,227 31,619 % of assets held 9.30% 5.69% 5.42% 4.88% 3.46% 28.75% 9.34% 7.39% 3.94% 2.57% 23.24% 40.97% 7.05% 100.00%
Health Return Guarantee Fund II (as on March 31, 2010) Industry Banking services Security name 9.5% Oriental Bank of Commerce 2013 9.5% IDBI Bank Limited 2013 9.5% State Bank of India 2013 11.35% IDBI Bank Limited 2013 10.25% ICICI Home Finance Company Limited 2014 9.75% LIC Housing Finance Limited 2017 10.25% Housing Development Finance Corporation Limited 2017 10.35% Housing Development Finance Corporation Limited 2017 Asset type FD FD FD NCD NCD NCD NCD NCD Market value (` 000) 3,570 2,062 2,016 1,487 9,135 3,550 2,689 2,060 839 9,138 18,039 1,861 38,173 % of assets held 9.35% 5.40% 5.28% 3.90% 23.93% 9.30% 7.04% 5.40% 2.20% 23.94% 47.26% 4.88% 100.00%
Health Return Guarantee Fund III (as on March 31, 2011) Industry Banking services Banking services total Housing finance services Housing finance services total Others Net current assets Grand Total Security name 9.50% IDBI Bank Limited 2013 10.85% HDFC Bank Limited 2018 9.50% State Bank of Patiala 2013 9.50% State Bank of India 2013 9.50% Canara Bank 2013 9.20% Canara Bank 2015 9.50% Oriental Bank of Commerce 2013 11.35% IDBI Bank Limited 2013 8.28% LIC Housing Finance Limited 2015 10.25% ICICI Home Finance Company Limited 2014 10.25% Housing Development Finance Corporation Limited 2017 Asset type FD NCD FD FD FD FD FD NCD NCD NCD NCD Market value (` 000) 1,899 1,839 1,709 1,048 895 700 397 280 8,767 2,652 1,168 316 4,136 18,306 1,896 33,105 % of assets held 5.74% 5.56% 5.16% 3.17% 2.70% 2.11% 1.20% 0.85% 26.48% 8.01% 3.53% 0.95% 12.49% 55.30% 5.73% 100.00%
Health Return Guarantee Fund III (as on March 31, 2010) Industry Banking services Security name 9.5% IDBI Bank Limited 2013 10.85% HDFC Bank Limited 2023 9.5% Canara Bank 2013 9.5% State Bank of India 2013 11.35% IDBI Bank Limited 2013 9.75% LIC Housing Finance Limited 2017 8.25% ICICI Home Finance Company Limited 2014 10.25% Housing Development Finance Corporation Limited 2017 10.25% ICICI Home Finance Company Limited 2014 Asset type FD NCD FD FD NCD NCD NCD NCD NCD Market value (` 000) 2,924 2,114 1,345 1,259 661 8,303 3,645 3,638 1,227 183 8,693 21,818 1,908 40,722 % of assets held 7.18% 5.19% 3.30% 3.09% 1.62% 20.39% 8.95% 8.93% 3.01% 0.45% 21.35% 53.58% 4.69% 100.00%
229
financial Report
Health Return Guarantee Fund IV (as on March 31, 2011) Industry Banking services Banking services total Housing finance services Housing finance services total Others Net current assets Grand Total Security name 9.50% Oriental Bank of Commerce 2013 9.50% IDBI Bank Limited 2013 9.50% State Bank of India 2013 9.75% State Bank of Bikaner & Jaipur 2014 11.08% LIC Housing Finance Limited 2018 10.25% Housing Development Finance Corporation Limited 2017 Asset type FD FD FD FD NCD NCD Market value (` 000) 1,401 1,378 1,373 841 4,993 1,113 812 1,925 7,511 1,393 15,822 % of assets held 8.85% 8.71% 8.68% 5.31% 31.55% 7.03% 5.13% 12.17% 47.48% 8.80% 100.00%
Health Return Guarantee Fund IV (as on March 31, 2010) Industry Banking services Security name 9.5% State Bank of India 2013 9.5% IDBI Bank Limited 2013 9.85% HDFC Bank Limited 2024 9.5% Oriental Bank of Commerce 2013 9.81% Indian Railway Finance Corporation Limited 2017 11.4% Infrastructure Development Finance Company Limited 2013 11.08% LIC Housing Finance Limited 2018 8.25% ICICI Home Finance Company Limited 2014 9.8% LIC Housing Finance Limited 2017 Novo Trust IV- Indian Railways 2013 Asset type FD FD NCD FD NCD NCD NCD NCD NCD PTC Market value (` 000) 1,803 1,590 1,202 481 5,076 1,868 1,711 3,579 1,159 836 620 2,615 2,255 2,255 5,162 1,031 19,718 % of assets held 9.14% 8.06% 6.10% 2.44% 25.74% 9.47% 8.68% 18.15% 5.88% 4.24% 3.14% 13.26% 11.44% 11.44% 26.18% 5.23% 100.00%
Banking services total Financial institutions Financial institutions total Housing finance services
Housing finance services total Rail system Rail system total Others Net current assets Grand Total
Health Return Guarantee Fund V (as on March 31, 2011) Industry Banking services Banking services total Others Net current assets Grand Total Security name 9.10% HDFC Bank Limited 2016 9.50% State Bank of Patiala 2013 9.50% IDBI Bank Limited 2013 9.50% Oriental Bank of Commerce 2013 9.50% State Bank of India 2013 9.40% Canara Bank 2013 9.50% Canara Bank 2013 Asset type NCD FD FD FD FD FD FD Market value (` 000) 666 661 602 515 409 389 275 3,517 3,007 577 7,101 % of assets held 9.38% 9.30% 8.48% 7.25% 5.76% 5.48% 3.89% 49.54% 42.35% 8.12% 100.00%
Health Return Guarantee Fund V (as on March 31, 2010) Industry Banking services Security name 9.1% HDFC Bank Limited 2016 9.5% IDBI Bank Limited 2013 9.5% Canara Bank 2013 9.5% State Bank of India 2013 9.5% Oriental Bank of Commerce 2013 8.8% Grasim Industries Limited 2015 11.3% ACC Limited 2013 8.2% Indian Railway Finance Corporation Limited 2016 10% Infrastructure Development Finance Company Limited 2013 Asset type NCD FD FD FD FD NCD NCD NCD NCD Market value (` 000) 956 622 600 479 400 3,057 941 750 1,691 803 595 1,398 3,408 508 10,062 % of assets held 9.50% 6.18% 5.96% 4.76% 3.98% 30.38% 9.35% 7.45% 16.81% 7.98% 5.91% 13.89% 33.87% 5.05% 100.00%
Banking services total Cement Cement total Financial institutions Financial institutions total Others Net current assets Grand Total
230

Health Return Guarantee Fund VI (as on March 31, 2011) Industry Banking services Banking services total Financial institutions Financial institutions total Others Net current assets Grand Total Security name 9.50% State Bank of Patiala 2013 9.40% Canara Bank 2013 9.50% Oriental Bank of Commerce 2013 11.35% IDBI Bank Limited 2013 9.25% IDBI Bank Limited 2014 8.20% Indian Railway Finance Corporation Limited 2016 10.90% Rural Electrification Corporation Limited 2013 Asset type FD FD FD NCD NCD NCD NCD Market value (` 000) 415 414 281 151 74 1,335 417 278 695 2,233 225 4,488 % of assets held 9.24% 9.23% 6.27% 3.36% 1.66% 29.76% 9.29% 6.19% 15.48% 49.76% 5.00% 100.00%
Health Return Guarantee Fund VI (as on March 31, 2010) Industry Banking services Security name 10.85% HDFC Bank Limited 2023 11.35% IDBI Bank Limited 2013 9.5% Canara Bank 2013 9.5% State Bank of India 2013 9.5% Oriental Bank of Commerce 2013 Banking services total Financial institutions 8.2% Indian Railway Finance Corporation Limited 2016 11.5% Rural Electrification Corporation Limited 2013 10.9% Rural Electrification Corporation Limited 2013 Financial institutions total Housing finance services 9.8% LIC Housing Finance Limited 2017 10.25% Housing Development Finance Corporation Limited 2017 8.25% ICICI Home Finance Company Limited 2014 Housing finance services total Others Net current assets Grand Total Asset type NCD NCD FD FD FD NCD NCD NCD NCD NCD NCD Market value (` 000) 612 220 138 30 2 1,002 630 387 120 1,137 592 544 355 1,491 2,481 307 6,418 % of assets held 9.54% 3.43% 2.15% 0.47% 0.03% 15.61% 9.82% 6.03% 1.87% 17.72% 9.22% 8.48% 5.53% 23.23% 38.66% 4.78% 100.00%
Health Return Guarantee Fund VII (as on March 31, 2011) Industry Banking services Banking services total Financial institutions Financial institutions total Housing finance services Housing finance services total Others Net current assets Grand Total Security name 9.25% IDBI Bank Limited 2014 10.10% Axis Bank Limited 2017 9.50% State Bank of Patiala 2013 9.10% HDFC Bank Limited 2016 9.50% IDBI Bank Limited 2013 9.28% Power Finance Corporation Limited 2017 8.20% Indian Railway Finance Corporation Limited 2016 8.65% Rural Electrification Corporation Limited 2019 8.25% ICICI Home Finance Company Limited 2014 10.25% Housing Development Finance Corporation Limited 2017 10.10% Housing Development Finance Corporation Limited 2017 9.75% LIC Housing Finance Limited 2017 Asset type NCD NCD FD NCD FD NCB NCD NCD NCD NCD NCD NCD Market value (` 000) 178 146 109 70 49 552 251 153 79 483 192 152 103 45 492 1,110 82 2,719 % of assets held 6.54% 5.39% 4.00% 2.56% 1.74% 20.23% 9.23% 5.65% 2.91% 17.79% 7.07% 5.60% 3.79% 1.67% 18.14% 40.84% 3.01% 100.00%
231
financial Report
Health Return Guarantee Fund VII (as on March 31, 2010) Industry Banking services Security name 9.25% IDBI Bank Limited 2014 9.85% HDFC Bank Limited 2024 10.1% Axis Bank Limited 2017 9.5% IDBI Bank Limited 2013 9.1% HDFC Bank Limited 2016 9.28% Power Finance Corporation Limited 2017 8.57% Indian Railway Finance Corporation Limited 2016 8.2% Indian Railway Finance Corporation Limited 2016 8.65% Rural Electrification Corporation Limited 2019 10% Infrastructure Development Finance Company Limited 2013 9.8% LIC Housing Finance Limited 2017 8.25% ICICI Home Finance Company Limited 2014 10.25% Housing Development Finance Corporation Limited 2017 10.1% Housing Development Finance Corporation Limited 2017 9.75% LIC Housing Finance Limited 2017 Asset type NCD NCD NCD FD NCD NCB NCD NCD NCD NCD NCD NCD NCD NCD NCD Market value (` 000) 245 221 151 121 111 849 453 263 179 81 2 978 338 195 173 107 47 860 1,792 178 4,657 % of assets held 5.26% 4.75% 3.24% 2.60% 2.38% 18.23% 9.73% 5.65% 3.84% 1.74% 0.04% 21.00% 7.26% 4.19% 3.71% 2.30% 1.01% 18.47% 38.48% 3.82% 100.00%
Health Return Guarantee Fund IX (5 Yrs) (as on March 31, 2011) Industry Housing finance services Housing finance services total Financial institutions Financial institutions total Banking services Banking services total Others Net current assets Grand Total Security name 9.75% LIC Housing Finance Limited 2017 10.25% Housing Development Finance Corporation Limited 2017 11.10% Power Finance Corporation Limited 2013 9.07% Rural Electrification Corporation Limited 2018 10.85% HDFC Bank Limited 2018 9.20% Canara Bank 2015 Asset type NCD NCD NCD NCD NCD FD Market value (` 000) 2 1 3 2 1 3 2 1 3 9 1 19 % of assets held 9.21% 8.88% 18.08% 8.86% 8.54% 17.39% 9.27% 4.20% 13.48% 45.64% 5.40% 100.00%
Highest NAV Fund B (as on March 31, 2011) Industry Others Net current assets Grand Total Security name Asset type Market value (` 000) 668,716 183,666 852,382 % of assets held 78.45% 21.55% 100.00%
Income Fund (as on March 31, 2011) Industry Banking services Security name HDFC Bank Limited 2011 Oriental Bank of Commerce 2011 ICICI Bank Limited 2011 Axis Bank Limited 2011 9.85% State Bank of India 2013 Corporation Bank 2012 Bank of India 2011 Union Bank of India 2011 10.35% Canara Bank 2012 Punjab National Bank 2012 Corporation Bank 2011 Uco Bank 2011 9.70% Canara Bank 2011 Bank of Baroda 2011 9.85% Bank of India 2011 Indian Bank 2011 9.95% State Bank of India 2021 Central Bank of India 2011 Syndicate Bank 2011 Bank of India 2012 Bank of Baroda 2012 Asset type CD CD CD CD FD CD CD CD FD CD CD CD FD CD FD CD NCD CD CD CD CD Market value (` 000) 135,872 131,802 97,971 65,940 63,524 58,490 52,911 49,045 35,095 31,607 27,499 24,703 23,283 22,934 21,388 19,427 19,028 18,247 16,467 15,968 15,918 % of assets held 8.45% 8.20% 6.10% 4.10% 3.95% 3.64% 3.29% 3.05% 2.18% 1.97% 1.71% 1.54% 1.45% 1.43% 1.33% 1.21% 1.18% 1.14% 1.02% 0.99% 0.99%
232

Income Fund (as on March 31, 2011) Industry Banking services total Others Net current assets Grand Total Security name 10.31% Union Bank of India 2012 10.30% Canara Bank 2013 State Bank of Hyderabad 2011 10.30% Axis Bank Limited 2013 State Bank of Mysore 2011 10.02% Union Bank of India 2013 Andhra Bank 2011 10.03% Bank of India 2012 9.80% Bank of India 2011 9.95% Axis Bank Limited 2012 9.70% Canara Bank 2012 9.58% Bank of India 2011 IDBI Bank Limited 2011 9.87% Axis Bank Limited 2012 9.78% State Bank of Patiala 2011 State Bank of India 2011 State Bank of Bikaner & Jaipur 2011 State Bank of India 2012 State Bank of Bikaner & Jaipur 2012 8.25% Canara Bank 2011 9.80% Bank of India 2012 State Bank of Hyderabad 2012 9.45% Punjab National Bank 2011 9.55% Oriental Bank of Commerce 2011 9.02% Punjab National Bank 2011 9.00% State Bank of India 2011 ICICI Bank Limited 2012 Federal Bank Limited 2011 Axis Bank Limited 2012 Indian Overseas Bank 2011 8.98% State Bank of Patiala 2011 8.10% State Bank of Patiala 2011 State Bank of Travancore 2011 State Bank of Patiala 2011 Canara Bank 2011 Asset type FD FD CD FD CD FD CD FD FD FD FD FD CD FD FD CD CD CD CD FD FD CD FD FD FD FD CD CD CD CD FD FD CD CD CD Market value (` 000) 14,764 13,685 11,808 11,551 11,104 11,099 10,882 10,582 10,335 10,099 10,000 9,941 9,937 9,885 7,674 7,578 7,442 6,926 6,378 6,320 6,112 5,557 4,944 4,944 4,786 4,779 2,969 2,829 2,703 2,351 2,338 2,169 2,006 2,003 892 1,196,491 358,951 51,736 1,607,178 % of assets held 0.92% 0.85% 0.73% 0.72% 0.69% 0.69% 0.68% 0.66% 0.64% 0.63% 0.62% 0.62% 0.62% 0.62% 0.48% 0.47% 0.46% 0.43% 0.40% 0.39% 0.38% 0.35% 0.31% 0.31% 0.30% 0.30% 0.18% 0.18% 0.17% 0.15% 0.15% 0.13% 0.12% 0.12% 0.06% 74.45% 22.33% 3.22% 100.00%
Income Fund (as on March 31, 2010) Industry Banking services Security name Allahabad Bank 2010 Bank of Baroda 2011 Union Bank of India 2010 Axis Bank Limited 2010 ICICI Bank Limited 2010 Corporation Bank 2010 7.05% Canara Bank 2011 Oriental Bank of Commerce 2010 9.25% IDBI Bank Limited 2014 Bank of India 2011 6.99% Union Bank of India 2011 7% Canara Bank 2011 HDFC Bank Limited 2011 9.5% Axis Bank Limited 2022 United Bank of India 2010 Yes Bank Limited 2011 Oriental Bank of Commerce 2011 Corporation Bank 2011 9.8% ICICI Bank Limited 2013 Axis Bank Limited 2011 Kotak Mahindra Prime Trustee 2013 8.84% Power Grid Corporation of India Limited 2014 7.1% Power Grid Corporation of India Limited 2011 9.2% Power Grid Corporation of India Limited 2014 9.5% NABARD 2012 7.75% Rural Electrification Corporation Limited 2012 6.55% National Housing Bank 2012 8.46% Indian Railway Finance Corporation Limited 2014 0% Infrastructure Development Finance Company Limited 2011 7.9% Rural Electrification Corporation Limited 2012 Asset type CD CD CD CD CD CD FD CD NCD CD FD FD CD NCD CD CD CD CD NCD CD PTC NCD NCD NCD NCD NCD NCD NCD ZCB NCD Market value (` 000) 14,327 11,503 8,411 8,182 6,874 4,161 3,936 3,886 3,842 3,551 2,987 2,338 1,952 1,623 1,546 1,488 818 501 131 95 82,152 10,321 10,177 3,072 43 23,613 3,640 3,513 3,096 1,495 1,388 1,039 % of assets held 8.03% 6.45% 4.71% 4.59% 3.85% 2.33% 2.21% 2.18% 2.15% 1.99% 1.67% 1.31% 1.09% 0.91% 0.87% 0.83% 0.46% 0.28% 0.07% 0.05% 46.05% 5.78% 5.70% 1.72% 0.02% 13.24% 2.04% 1.97% 1.74% 0.84% 0.78% 0.58%
Banking services total Electricity distribution
233
financial Report
Income Fund (as on March 31, 2010) Industry Security name 11.4% Infrastructure Development Finance Company Limited 2013 11.15% Power Finance Corporation Limited 2011 6.42% National Housing Bank 2012 7.15% Rural Electrification Corporation Limited 2012 11.4% Power Finance Corporation Limited 2013 8.45% Power Finance Corporation Limited 2014 10.75% Power Finance Corporation Limited 2011 9.8% Power Finance Corporation Limited 2012 9.05% Infrastructure Development Finance Company Limited 2010 9% Infrastructure Development Finance Company Limited 2010 8.6% Infrastructure Development Finance Company Limited 2011 8.55% Power Finance Corporation Limited 2011 Power Finance Corporation Limited 2019 8.5% Power Finance Corporation Limited 2014 Financial institutions total Refinery 7.73% Bharat Petroleum Corporation Limited 2012 10.1% Reliance Industries Limited 2011 7% Indian Oil Corporation Limited 2012 11.45% Reliance Industries Limited 2013 7.35% Hindustan Petroleum Corporation Limited 2012 Asset type NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD FRN NCD NCD NCD NCD NCD NCD Market value (` 000) 1,000 970 686 476 346 240 121 84 68 59 51 39 34 32 18,377 6,185 5,212 5,123 2,453 131 19,104 27,710 7,457 178,413 % of assets held 0.56% 0.54% 0.38% 0.27% 0.19% 0.13% 0.07% 0.05% 0.04% 0.03% 0.03% 0.02% 0.02% 0.02% 10.30% 3.47% 2.92% 2.87% 1.37% 0.07% 10.71% 15.53% 4.18% 100.00%
Invest Shield Fund - Life (as on March 31, 2011) Industry Banking services Security name 9.85% State Bank of India 2013 Corporation Bank 2012 Bank of India 2011 Punjab National Bank 2012 10.35% Canara Bank 2012 Bank of Baroda 2011 9.70% Canara Bank 2011 HDFC Bank Limited 9.85% Bank of India 2011 Bank of Baroda 2012 Bank of Baroda 10.31% Union Bank of India 2012 State Bank of Mysore 2011 Andhra Bank 2011 Corporation Bank 2011 Kotak Mahindra Bank Limited Oriental Bank of Commerce 2011 Bank of India 2012 Central Bank of India 2011 Punjab National Bank 9.95% State Bank of India 2021 Allahabad Bank State Bank of Hyderabad 2011 Axis Bank Limited Union Bank of India 2011 8.25% Canara Bank 2011 9.80% Bank of India 2011 9.70% Canara Bank 2012 9.58% Bank of India 2011 ICICI Bank Limited 2011 10.30% Canara Bank 2013 10.30% IDBI Bank Limited 2012 Syndicate Bank 2011 9.87% Axis Bank Limited 2012 10.30% Axis Bank Limited 2013 9.95% Axis Bank Limited 2012 10.02% Union Bank of India 2013 10.03% Bank of India 2012 Jammu & Kashmir Bank Limited 9.78% State Bank of Patiala 2011 State Bank of Bikaner & Jaipur 2012 State Bank of Bikaner & Jaipur 2011 9.80% Bank of India 2012 8.10% State Bank of Patiala 2011 State Bank of Travancore 2011 State Bank of Patiala 2011 9.45% Punjab National Bank 2011 9.55% Oriental Bank of Commerce 2011 9.00% State Bank of India 2011 9.02% Punjab National Bank 2011 Asset type FD CD CD CD FD CD FD Equity FD CD Equity FD CD CD CD Equity CD CD CD Equity NCD Equity CD Equity CD FD FD FD FD CD FD NCD CD FD FD FD FD FD Equity FD CD CD FD FD CD CD FD FD FD FD Market value (` 000) 73,305 38,698 37,664 37,576 32,740 32,436 30,585 27,613 26,513 26,431 24,893 21,451 20,156 19,753 19,412 18,519 18,416 18,368 18,318 18,062 16,656 15,618 15,360 15,052 14,391 13,362 13,162 13,126 13,104 12,775 12,623 12,396 12,303 11,295 11,151 11,147 11,146 10,628 10,488 9,865 9,265 9,151 7,637 6,679 6,572 6,571 6,547 6,547 6,517 6,505 % of assets held 3.93% 2.08% 2.02% 2.02% 1.76% 1.74% 1.64% 1.48% 1.42% 1.42% 1.34% 1.15% 1.08% 1.06% 1.04% 0.99% 0.99% 0.99% 0.98% 0.97% 0.89% 0.84% 0.82% 0.81% 0.77% 0.72% 0.71% 0.70% 0.70% 0.69% 0.68% 0.66% 0.66% 0.61% 0.60% 0.60% 0.60% 0.57% 0.56% 0.53% 0.50% 0.49% 0.41% 0.36% 0.35% 0.35% 0.35% 0.35% 0.35% 0.35%
234

Invest Shield Fund - Life (as on March 31, 2011) Industry Banking services total Others Net current assets Grand Total Security name State Bank of India 2011 State Bank of India 2012 State Bank of Hyderabad 2012 10.10% Axis Bank Limited 2017 Canara Bank 2011 8.98% State Bank of Patiala 2011 Federal Bank Limited 2011 Indian Bank 2011 Indian Overseas Bank 2011 Axis Bank Limited 2012 ICICI Bank Limited 2012 Union Bank of India 8.47% IDBI Bank Limited 2011 Asset type CD CD CD NCD CD FD CD CD CD CD CD Equity NCD Market value (` 000) 6,405 5,957 5,174 4,215 3,392 3,281 3,181 3,076 3,074 3,039 2,575 2,278 2,106 936,301 898,979 28,921 1,864,201 % of assets held 0.34% 0.32% 0.28% 0.23% 0.18% 0.18% 0.17% 0.16% 0.16% 0.16% 0.14% 0.12% 0.11% 50.23% 48.22% 1.55% 100.00%
Invest Shield Fund - Life (as on March 31, 2010) Industry Banking services Security name Allahabad Bank 2010 ICICI Bank Limited 2010 HDFC Bank Limited 7.05% Canara Bank 2011 Bank of India 2011 7% Canara Bank 2011 9.25% IDBI Bank Limited 2014 Axis Bank Limited HDFC Bank Limited 2011 Oriental Bank of Commerce 2010 10.3% IDBI Bank Limited 2012 Bank of Baroda 2011 6.99% Union Bank of India 2011 Oriental Bank of Commerce 2011 9.8% ICICI Bank Limited 2013 Corporation Bank 2011 United Bank of India 2010 Yes Bank Limited 2011 State Bank of India 10.1% Axis Bank Limited 2017 Axis Bank Limited 2010 Union Bank of India 2010 8.47% IDBI Bank Limited 2013 Union Bank of India 6.55% National Housing Bank 2012 9% Infrastructure Development Finance Company Limited 2010 11.1% Power Finance Corporation Limited 2013 10.9% Rural Electrification Corporation Limited 2013 7.9% Rural Electrification Corporation Limited 2012 11.4% Power Finance Corporation Limited 2013 8.46% Indian Railway Finance Corporation Limited 2014 7.15% Rural Electrification Corporation Limited 2012 9.4% Power Finance Corporation Limited 2013 9.8% Power Finance Corporation Limited 2012 6.42% National Housing Bank 2012 8.6% Infrastructure Development Finance Company Limited 2011 Rural Electrification Corporation Limited 11.5% Rural Electrification Corporation Limited 2013 9.76% Indian Railway Finance Corporation Limited 2012 9.03% Power Finance Corporation Limited 2013 0% Infrastructure Development Finance Company Limited 2011 8.4% Indian Railway Finance Corporation Limited 2013 10.75% Power Finance Corporation Limited 2011 6.9% National Housing Bank 2012 9.5% Export-Import Bank of India 2013 Power Finance Corporation Limited 2019 8.5% Power Finance Corporation Limited 2014 8.75% Indian Railway Finance Corporation Limited 2013 9.05% Infrastructure Development Finance Company Limited 2010 8.5% Export-Import Bank of India 2011 9.68% Indian Railway Finance Corporation Limited 2012 9.45% Rural Electrification Corporation Limited 2013 8.94% Power Finance Corporation Limited 2013 8.88% Infrastructure Development Finance Company Limited 2011 8.55% Power Finance Corporation Limited 2011 7.75% Rural Electrification Corporation Limited 2012 Asset type CD CD Equity FD CD FD NCD Equity CD CD NCD CD FD CD NCD CD CD CD Equity NCD CD CD NCD Equity NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD Equity NCD NCB NCD ZCB NCD NCD NCD NCD FRN NCD NCD NCD NCB NCD NCD NCD NCD NCD NCD Market value (` 000) 111,154 73,377 46,706 41,945 38,810 27,761 27,514 22,982 20,309 19,469 13,037 11,531 10,646 10,035 8,730 6,718 5,967 5,745 5,196 4,337 4,332 3,817 2,147 1,462 523,727 27,549 20,615 19,759 17,048 16,662 15,464 11,688 10,683 7,689 7,474 7,135 6,548 6,316 6,023 5,943 5,738 4,770 4,536 4,486 4,357 3,902 3,577 3,379 3,057 3,037 2,556 2,438 2,322 2,254 1,497 1,464 1,427 % of assets held 6.90% 4.56% 2.90% 2.60% 2.41% 1.72% 1.71% 1.43% 1.26% 1.21% 0.81% 0.72% 0.66% 0.62% 0.54% 0.42% 0.37% 0.36% 0.32% 0.27% 0.27% 0.24% 0.13% 0.09% 32.53% 1.71% 1.28% 1.23% 1.06% 1.03% 0.96% 0.73% 0.66% 0.48% 0.46% 0.44% 0.41% 0.39% 0.37% 0.37% 0.36% 0.30% 0.28% 0.28% 0.27% 0.24% 0.22% 0.21% 0.19% 0.19% 0.16% 0.15% 0.14% 0.14% 0.09% 0.09% 0.09%
235
financial Report
Invest Shield Fund - Life (as on March 31, 2010) Industry Security name 8.45% Power Finance Corporation Limited 2014 8.83% Indian Railway Finance Corporation Limited 2012 Financial institutions total Refinery 7.73% Bharat Petroleum Corporation Limited 2012 11.45% Reliance Industries Limited 2013 Reliance Industries Limited 7% Indian Oil Corporation Limited 2012 10.1% Reliance Industries Limited 2011 7.35% Hindustan Petroleum Corporation Limited 2012 Bharat Petroleum Corporation Limited Hindustan Petroleum Corporation Limited Indian Oil Corporation Limited Asset type NCD NCD NCD NCD Equity NCD NCD NCD Equity Equity Equity Market value (` 000) 1,426 811 243,630 61,334 45,880 26,207 22,965 6,038 3,537 2,450 2,169 355 170,935 631,299 40,589 1,610,180 % of assets held 0.09% 0.05% 15.13% 3.81% 2.85% 1.63% 1.43% 0.37% 0.22% 0.15% 0.13% 0.02% 10.62% 39.21% 2.52% 100.00%
Invest Shield Fund - Pension (as on March 31, 2011) Industry Banking services Security name 9.85% State Bank of India 2013 Corporation Bank 2012 Bank of India 2011 Punjab National Bank 2012 10.35% Canara Bank 2012 Bank of Baroda 2011 9.70% Canara Bank 2011 Bank of Baroda 2012 ICICI Bank Limited 2011 HDFC Bank Limited State Bank of Mysore 2011 Andhra Bank 2011 Bank of Baroda 10.31% Union Bank of India 2012 Corporation Bank 2011 Punjab National Bank Bank of India 2012 Oriental Bank of Commerce 2011 Central Bank of India 2011 Allahabad Bank Kotak Mahindra Bank Limited 9.95% State Bank of India 2021 State Bank of Hyderabad 2011 Axis Bank Limited Union Bank of India 2011 8.25% Canara Bank 2011 9.80% Bank of India 2011 9.70% Canara Bank 2012 9.58% Bank of India 2011 10.30% Canara Bank 2013 10.30% IDBI Bank Limited 2012 Syndicate Bank 2011 9.87% Axis Bank Limited 2012 10.30% Axis Bank Limited 2013 9.95% Axis Bank Limited 2012 10.02% Union Bank of India 2013 Jammu & Kashmir Bank Limited 10.03% Bank of India 2012 9.78% State Bank of Patiala 2011 State Bank of Bikaner & Jaipur 2012 State Bank of Bikaner & Jaipur 2011 9.80% Bank of India 2012 8.10% State Bank of Patiala 2011 State Bank of Travancore 2011 State Bank of Patiala 2011 9.45% Punjab National Bank 2011 9.55% Oriental Bank of Commerce 2011 9.00% State Bank of India 2011 9.02% Punjab National Bank 2011 State Bank of India 2011 State Bank of India 2012 State Bank of Hyderabad 2012 Canara Bank 2011 8.98% State Bank of Patiala 2011 Federal Bank Limited 2011 Indian Bank 2011 Indian Overseas Bank 2011 Axis Bank Limited 2012 Asset type FD CD CD CD FD CD FD CD CD Equity CD CD Equity FD CD Equity CD CD CD Equity Equity NCD CD Equity CD FD FD FD FD FD NCD CD FD FD FD FD Equity FD FD CD CD FD FD CD CD FD FD FD FD CD CD CD CD FD CD CD CD CD Market value (` 000) 14,726 8,979 8,562 8,332 6,588 6,558 6,131 6,023 5,754 5,020 4,901 4,803 4,371 4,348 3,914 3,722 3,713 3,694 3,676 3,523 3,472 3,358 3,093 3,084 2,911 2,681 2,635 2,632 2,627 2,545 2,469 2,466 2,268 2,246 2,241 2,240 2,185 2,136 1,975 1,879 1,836 1,528 1,341 1,326 1,323 1,311 1,311 1,305 1,304 1,299 1,200 1,043 682 659 636 617 616 607 % of assets held 3.94% 2.40% 2.29% 2.23% 1.76% 1.76% 1.64% 1.61% 1.54% 1.34% 1.31% 1.29% 1.17% 1.16% 1.05% 1.00% 0.99% 0.99% 0.98% 0.94% 0.93% 0.90% 0.83% 0.83% 0.78% 0.72% 0.71% 0.70% 0.70% 0.68% 0.66% 0.66% 0.61% 0.60% 0.60% 0.60% 0.58% 0.57% 0.53% 0.50% 0.49% 0.41% 0.36% 0.35% 0.35% 0.35% 0.35% 0.35% 0.35% 0.35% 0.32% 0.28% 0.18% 0.18% 0.17% 0.17% 0.16% 0.16%
236

Invest Shield Fund - Pension (as on March 31, 2011) Industry Banking services total Others Net current assets Grand Total Security name ICICI Bank Limited 2012 8.47% IDBI Bank Limited 2011 Canara Bank Bank of India Asset type CD NCD Equity Equity Market value (` 000) 519 425 249 248 189,866 177,633 6,060 373,559 % of assets held 0.14% 0.11% 0.07% 0.07% 50.83% 47.55% 1.62% 100.00%
Invest Shield Fund - Pension (as on March 31, 2010) Industry Banking services Security name State Bank of Patiala 2010 ICICI Bank Limited 2010 Allahabad Bank 2010 Bank of India 2011 7.05% Canara Bank 2011 HDFC Bank Limited 9.25% IDBI Bank Limited 2014 HDFC Bank Limited 2011 Axis Bank Limited Oriental Bank of Commerce 2010 Axis Bank Limited 2010 10.3% IDBI Bank Limited 2012 7% Canara Bank 2011 6.99% Union Bank of India 2011 Oriental Bank of Commerce 2011 Bank of Baroda 2011 9.8% ICICI Bank Limited 2013 Corporation Bank 2011 Union Bank of India 2010 United Bank of India 2010 Yes Bank Limited 2011 Union Bank of India 8.47% IDBI Bank Limited 2013 6.55% National Housing Bank 2012 11.1% Power Finance Corporation Limited 2013 10.9% Rural Electrification Corporation Limited 2013 7.9% Rural Electrification Corporation Limited 2012 11.4% Power Finance Corporation Limited 2013 8.46% Indian Railway Finance Corporation Limited 2014 7.15% Rural Electrification Corporation Limited 2012 9.8% Power Finance Corporation Limited 2012 6.42% National Housing Bank 2012 8.6% Infrastructure Development Finance Company Limited 2011 Rural Electrification Corporation Limited 11.5% Rural Electrification Corporation Limited 2013 9.76% Indian Railway Finance Corporation Limited 2012 9.03% Power Finance Corporation Limited 2013 0% Infrastructure Development Finance Company Limited 2011 8.4% Indian Railway Finance Corporation Limited 2013 10.75% Power Finance Corporation Limited 2011 6.9% National Housing Bank 2012 9% Infrastructure Development Finance Company Limited 2010 9.5% Export-Import Bank of India 2013 Power Finance Corporation Limited 2019 8.5% Power Finance Corporation Limited 2014 9.68% Indian Railway Finance Corporation Limited 2012 9.05% Infrastructure Development Finance Company Limited 2010 8.75% Indian Railway Finance Corporation Limited 2013 8.5% Export-Import Bank of India 2011 9.45% Rural Electrification Corporation Limited 2013 8.94% Power Finance Corporation Limited 2013 8.88% Infrastructure Development Finance Company Limited 2011 8.55% Power Finance Corporation Limited 2011 7.75% Rural Electrification Corporation Limited 2012 8.45% Power Finance Corporation Limited 2014 8.83% Indian Railway Finance Corporation Limited 2012 7.73% Bharat Petroleum Corporation Limited 2012 11.45% Reliance Industries Limited 2013 Reliance Industries Limited 7% Indian Oil Corporation Limited 2012 10.1% Reliance Industries Limited 2011 Bharat Petroleum Corporation Limited 7.35% Hindustan Petroleum Corporation Limited 2012 Hindustan Petroleum Corporation Limited Indian Oil Corporation Limited Asset type CD CD CD CD FD Equity NCD CD Equity CD CD NCD FD FD CD CD NCD CD CD CD CD Equity NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD Equity NCD NCB NCD ZCB NCD NCD NCD NCD NCD FRN NCD NCD NCD NCD NCB NCD NCD NCD NCD NCD NCD NCD NCD NCD Equity NCD NCD Equity NCD Equity Equity Market value (` 000) 26,888 14,996 14,883 7,876 7,573 7,196 5,500 4,151 4,083 3,744 3,340 2,597 2,421 2,126 2,004 1,911 1,738 1,347 1,073 989 952 438 433 118,259 5,498 3,647 3,391 3,337 3,080 2,325 2,134 1,488 1,458 1,319 1,263 1,197 1,192 1,175 948 902 895 867 781 777 712 673 661 614 606 562 462 452 298 292 285 285 165 43,741 12,272 9,099 7,038 4,591 1,234 1,192 703 443 59 36,631 113,380 8,986 320,997 % of assets held 8.38% 4.67% 4.64% 2.45% 2.36% 2.24% 1.71% 1.29% 1.27% 1.17% 1.04% 0.81% 0.75% 0.66% 0.62% 0.60% 0.54% 0.42% 0.33% 0.31% 0.30% 0.14% 0.13% 36.84% 1.71% 1.14% 1.06% 1.04% 0.96% 0.72% 0.66% 0.46% 0.45% 0.41% 0.39% 0.37% 0.37% 0.37% 0.30% 0.28% 0.28% 0.27% 0.24% 0.24% 0.22% 0.21% 0.21% 0.19% 0.19% 0.18% 0.14% 0.14% 0.09% 0.09% 0.09% 0.09% 0.05% 13.63% 3.82% 2.83% 2.19% 1.43% 0.38% 0.37% 0.22% 0.14% 0.02% 11.41% 35.32% 2.80% 100.00%
237
financial Report
Maximiser Fund (as on March 31, 2011) Industry Banking services Banking services total Others Net current assets Grand Total Security name 8.25% Canara Bank 2011 HDFC Bank Limited Axis Bank Limited Oriental Bank of Commerce Bank of India 2011 Axis Bank Limited 2011 Indian Overseas Bank 2011 Union Bank of India 2011 Punjab National Bank Union Bank of India ICICI Bank Limited 2011 State Bank of Hyderabad 2011 Oriental Bank of Commerce 2011 State Bank of Bikaner & Jaipur 2011 Corporation Bank 2011 Central Bank of India 2011 Asset type FD Equity Equity Equity CD CD CD CD Equity Equity CD CD CD CD CD CD Market value (` 000) 139,110 7,819,375 1,544,450 1,206,133 1,110,922 857,388 725,566 698,100 573,737 533,670 485,182 463,370 346,753 287,114 156,778 83,381 17,031,029 69,918,424 70,659 87,020,112 % of assets held 0.16% 8.99% 1.77% 1.39% 1.28% 0.99% 0.83% 0.80% 0.66% 0.61% 0.56% 0.53% 0.40% 0.33% 0.18% 0.10% 19.57% 80.35% 0.08% 100.00%
Maximiser Fund (as on March 31, 2010) Industry Banking services Security name HDFC Bank Limited Axis Bank Limited Punjab National Bank Oriental Bank of Commerce Bank of Baroda 2011 ICICI Bank Limited 2010 Union Bank of India 7% Canara Bank 2011 Union Bank of India 2010 State Bank of Patiala 2010 7.25% State Bank of Indore 2010 Asset type Equity Equity Equity Equity CD CD Equity FD CD CD FD Market value (` 000) 10,033,510 8,202,710 1,278,199 1,232,255 629,174 498,255 426,938 83,026 10,114 8,186 200 22,402,567 84,321,604 245,885 106,970,056 % of assets held 9.38% 7.67% 1.19% 1.15% 0.59% 0.47% 0.40% 0.08% 0.01% 0.01% 0.00% 20.94% 78.83% 0.23% 100.00%
Money Market Fund (as on March 31, 2011) Industry Banking services Banking services total Others Net current assets Grand Total Security name Oriental Bank of Commerce 2011 10.25% Bank of Baroda 2012 Uco Bank 2011 9.85% State Bank of India 2013 State Bank of Mysore 2011 Corporation Bank 2012 Punjab National Bank 2012 ICICI Bank Limited 2011 10.35% Canara Bank 2012 State Bank of Hyderabad 2011 Punjab National Bank 2011 Union Bank of India 2011 IDBI Bank Limited 2012 9.70% Canara Bank 2011 Bank of India 2011 Axis Bank Limited 2012 Corporation Bank 2011 10.30% Canara Bank 2013 8.23% Canara Bank 2011 8.10% State Bank of Patiala 2011 10.02% Union Bank of India 2013 10.30% Axis Bank Limited 2013 9.95% Axis Bank Limited 2012 9.87% Axis Bank Limited 2012 Central Bank of India 2011 State Bank of Hyderabad 2012 IDBI Bank Limited 2011 8.25% Canara Bank 2011 ICICI Bank Limited 2012 Asset type CD FD CD FD CD CD CD CD FD CD CD CD CD FD CD CD CD FD FD FD FD FD FD FD CD CD CD FD CD Market value (` 000) 74,374 50,440 48,982 43,138 42,304 38,288 29,850 29,360 25,347 25,059 24,805 24,265 23,392 21,703 20,828 20,059 14,888 10,000 9,300 6,800 6,767 6,765 6,561 6,521 3,437 3,167 2,981 2,000 1,607 622,988 219,531 20,900 863,419 % of assets held 8.61% 5.84% 5.67% 5.00% 4.90% 4.43% 3.46% 3.40% 2.94% 2.90% 2.87% 2.81% 2.71% 2.51% 2.41% 2.32% 1.72% 1.16% 1.08% 0.79% 0.78% 0.78% 0.76% 0.76% 0.40% 0.37% 0.35% 0.23% 0.19% 72.15% 25.43% 2.42% 100.00%
238

Money Market Fund (as on March 31, 2010) Industry Banking services Security name Union Bank of India 2010 Corporation Bank 2010 7.25% State Bank of Indore 2010 Oriental Bank of Commerce 2010 Syndicate Bank 2010 Central Bank of India 2010 Bank of India 2011 State Bank of Patiala 2010 Yes Bank Limited 2011 Bank of Baroda 2010 State Bank of Bikaner & Jaipur 2010 Punjab National Bank 2010 Axis Bank Limited 2010 IDBI Bank Limited 2010 Allahabad Bank 2010 Bank of Baroda 2011 Axis Bank Limited 2011 ICICI Bank Limited 2010 Andhra Bank 2010 Corporation Bank 2011 United Bank of India 2010 Asset type CD CD FD CD CD CD CD CD CD CD CD CD CD CD CD CD CD CD CD CD CD Market value (` 000) 2,094 2,075 1,650 1,608 1,555 1,553 1,340 1,011 990 962 959 956 921 905 283 200 143 137 97 75 54 19,568 3,674 4,878 28,120 % of assets held 7.45% 7.38% 5.87% 5.72% 5.53% 5.52% 4.77% 3.60% 3.52% 3.42% 3.41% 3.40% 3.28% 3.22% 1.01% 0.71% 0.51% 0.49% 0.34% 0.27% 0.19% 69.59% 13.07% 17.35% 100.00%
Multi Cap Balanced Fund (as on March 31, 2011) Industry Banking services Security name HDFC Bank Limited 2011 Axis Bank Limited 2011 State Bank of Hyderabad 2011 State Bank of India HDFC Bank Limited Bank of Baroda 9.85% State Bank of India 2013 Corporation Bank 2012 Bank of India 2011 Bank of Baroda 2011 Punjab National Bank 2012 Bank of Baroda 2012 10.31% Union Bank of India 2012 Axis Bank Limited State Bank of Mysore 2011 Andhra Bank 2011 10.35% Canara Bank 2012 Oriental Bank of Commerce 2011 9.70% Canara Bank 2011 State Bank of Bikaner & Jaipur 2012 9.85% Bank of India 2011 ICICI Bank Limited 2011 9.95% State Bank of India 2021 Central Bank of India 2011 Allahabad Bank Corporation Bank 2011 Bank of India 2012 Kotak Mahindra Bank Limited 10.30% Canara Bank 2013 10.30% Axis Bank Limited 2013 10.02% Union Bank of India 2013 10.03% Bank of India 2012 9.80% Bank of India 2011 9.70% Canara Bank 2012 9.95% Axis Bank Limited 2012 9.58% Bank of India 2011 9.87% Axis Bank Limited 2012 Syndicate Bank 2011 Jammu & Kashmir Bank Limited 8.25% Canara Bank 2011 Union Bank of India 2011 State Bank of Bikaner & Jaipur 2011 9.78% State Bank of Patiala 2011 State Bank of India 2012 9.80% Bank of India 2012 State Bank of Hyderabad 2012 State Bank of India 2011 9.45% Punjab National Bank 2011 Asset type CD CD CD Equity Equity Equity FD CD CD CD CD CD FD Equity CD CD FD CD FD CD FD CD NCD CD Equity CD CD Equity FD FD FD FD FD FD FD FD FD CD Equity FD CD CD FD CD FD CD CD FD Market value (` 000) 33,290 22,326 20,306 15,223 13,193 12,231 10,966 10,897 10,232 9,441 9,427 9,165 8,592 7,940 6,338 6,212 6,164 4,191 3,761 3,711 3,574 3,220 3,054 3,038 2,748 2,670 2,642 2,289 2,156 1,942 1,814 1,729 1,641 1,617 1,606 1,592 1,589 1,534 1,412 1,372 1,329 1,205 1,190 1,132 1,008 991 932 781 % of assets held 5.75% 3.86% 3.51% 2.63% 2.28% 2.11% 1.89% 1.88% 1.77% 1.63% 1.63% 1.58% 1.48% 1.37% 1.10% 1.07% 1.07% 0.72% 0.65% 0.64% 0.62% 0.56% 0.53% 0.52% 0.47% 0.46% 0.46% 0.40% 0.37% 0.34% 0.31% 0.30% 0.28% 0.28% 0.28% 0.28% 0.27% 0.27% 0.24% 0.24% 0.23% 0.21% 0.21% 0.20% 0.17% 0.17% 0.16% 0.13%
239
financial Report
Multi Cap Balanced Fund (as on March 31, 2011) Industry Banking services total Others Net current assets Grand Total Security name 9.55% Oriental Bank of Commerce 2011 9.00% State Bank of India 2011 9.02% Punjab National Bank 2011 Oriental Bank of Commerce Union Bank of India ICICI Bank Limited 2012 Federal Bank Limited 2011 Axis Bank Limited 2012 Indian Overseas Bank 2011 Indian Bank 2011 8.98% State Bank of Patiala 2011 8.10% State Bank of Patiala 2011 State Bank of Travancore 2011 State Bank of Patiala 2011 Canara Bank 2011 Asset type FD FD FD Equity Equity CD CD CD CD CD FD FD CD CD CD Market value (` 000) 781 714 713 537 516 478 464 443 383 379 339 265 229 225 92 281,971 271,125 25,595 578,691 % of assets held 0.13% 0.12% 0.12% 0.09% 0.09% 0.08% 0.08% 0.08% 0.07% 0.07% 0.06% 0.05% 0.04% 0.04% 0.02% 48.73% 46.85% 4.42% 100.00%
Multi Cap Balanced Fund (as on March 31, 2010) Industry Banking services Security name Yes Bank Limited 2011 Union Bank of India 2010 Axis Bank Limited 2010 7% Canara Bank 2011 ICICI Bank Limited 2010 6.99% Union Bank of India 2011 Bank of India 2011 HDFC Bank Limited Axis Bank Limited Allahabad Bank 2010 State Bank of Patiala 2010 Bank of Baroda 2011 Union Bank of India 7.05% Canara Bank 2011 Oriental Bank of Commerce 2010 9.5% Axis Bank Limited 2022 United Bank of India 2010 HDFC Bank Limited 2011 State Bank of India Bank of Baroda Oriental Bank of Commerce 2011 Corporation Bank 2011 Corporation Bank 2010 Asset type CD CD CD FD CD FD CD Equity Equity CD CD CD Equity FD CD NCD CD CD Equity Equity CD CD CD Market value (` 000) 2,567 2,191 1,805 1,700 1,404 781 517 480 475 469 451 446 435 386 362 272 231 197 189 138 73 43 15 15,627 24,738 61 40,426 % of assets held 6.35% 5.42% 4.46% 4.21% 3.47% 1.93% 1.28% 1.19% 1.17% 1.16% 1.12% 1.10% 1.08% 0.95% 0.90% 0.67% 0.57% 0.49% 0.47% 0.34% 0.18% 0.11% 0.04% 38.66% 61.19% 0.15% 100.00%
Multi Cap Growth Fund (as on March 31, 2011) Industry Banking services Banking services total Computer software Computer software total Others Net current assets Grand Total Security name Bank of India 2012 Bank of India 2011 ICICI Bank Limited 2011 HDFC Bank Limited Bank of Baroda Bank of Baroda 2011 Allahabad Bank Kotak Mahindra Bank Limited Infosys Technologies Limited Tata Consultancy Services Limited Wipro Limited Infotech Enterprises Limited Asset type CD CD CD Equity Equity CD Equity Equity Equity Equity Equity Equity Market value (` 000) 166,260 156,673 146,801 141,218 134,258 118,719 89,133 47,615 1,000,677 279,727 171,256 73,347 36,995 561,325 3,073,710 130,974 4,766,686 % of assets held 3.49% 3.29% 3.08% 2.96% 2.82% 2.49% 1.87% 1.00% 20.99% 5.87% 3.59% 1.54% 0.78% 11.78% 64.48% 2.75% 100.00%
240

Multi Cap Growth Fund (as on March 31, 2010) Industry Banking services HDFC Bank Limited Bank of Baroda State Bank of India Punjab National Bank Union Bank of India 2010 Reliance Industries Limited Bharat Petroleum Corporation Limited Security name Asset type Equity Equity Equity Equity CD Equity Equity Market value (` 000) 32,141 31,929 29,284 25,373 2,726 121,453 53,344 16,025 69,369 451,930 1,707 644,459 % of assets held 4.99% 4.95% 4.54% 3.94% 0.42% 18.85% 8.28% 2.49% 10.76% 70.13% 0.26% 100.00%
Banking services total Refinery Refinery total Others Net current assets Grand Total
Multiplier Fund (as on March 31, 2011) Industry Banking services Banking services total Computer software Computer software total Others Net current assets Grand Total Security name HDFC Bank Limited Punjab National Bank Axis Bank Limited Kotak Mahindra Bank Limited Oriental Bank of Commerce Union Bank of India Bank of India 2012 Allahabad Bank Bank of Baroda 2011 Axis Bank Limited 2011 Jammu & Kashmir Bank Limited Infosys Technologies Limited Tata Consultancy Services Limited Asset type Equity Equity Equity Equity Equity Equity CD Equity CD CD Equity Equity Equity Market value (` 000) 2,148,207 898,858 886,200 251,131 181,209 100,703 90,214 90,062 85,640 67,523 33,211 4,832,958 2,096,453 1,239,413 3,335,866 14,430,325 735,366 23,334,515 % of assets held 9.21% 3.85% 3.80% 1.08% 0.78% 0.43% 0.39% 0.39% 0.37% 0.29% 0.14% 20.71% 8.98% 5.31% 14.30% 61.84% 3.15% 100.00%
Multiplier Fund (as on March 31, 2010) Industry Banking services HDFC Bank Limited Axis Bank Limited Central Bank of India 2010 State Bank of Patiala 2010 Punjab National Bank Oriental Bank of Commerce Punjab National Bank 2010 State Bank of India Infosys Technologies Limited Tata Consultancy Services Limited Wipro Limited HCL Technologies Limited Security name Asset type Equity Equity CD CD Equity Equity CD Equity Equity Equity Equity Equity Market value (` 000) 1,648,788 1,204,774 593,456 322,672 253,599 205,408 99,487 83,105 4,411,289 1,779,484 781,111 231,063 19,059 2,810,717 14,869,864 (46,080) 22,045,790 % of assets held 7.48% 5.46% 2.69% 1.46% 1.15% 0.93% 0.45% 0.38% 20.01% 8.07% 3.54% 1.05% 0.09% 12.75% 67.45% (0.21%) 100.00%
New Invest Shield Balanced Fund (as on March 31, 2011) Industry Banking services Security name ICICI Bank Limited 2011 9.85% State Bank of India 2013 HDFC Bank Limited 10.35% Canara Bank 2012 Bank of India 2011 9.70% Canara Bank 2011 Punjab National Bank Bank of Baroda 2011 9.85% Bank of India 2011 Kotak Mahindra Bank Limited Allahabad Bank Bank of Baroda Axis Bank Limited 10.31% Union Bank of India 2012 Corporation Bank 2011 Punjab National Bank 2012 Asset type CD FD Equity FD CD FD Equity CD FD Equity Equity Equity Equity FD CD CD Market value (` 000) 178,612 86,979 60,591 37,780 36,195 36,157 33,684 31,604 30,990 30,564 30,017 27,710 26,255 25,888 22,648 22,367 % of assets held 7.18% 3.50% 2.44% 1.52% 1.45% 1.45% 1.35% 1.27% 1.25% 1.23% 1.21% 1.11% 1.06% 1.04% 0.91% 0.90%
241
financial Report
New Invest Shield Balanced Fund (as on March 31, 2011) Industry Banking services total Others Net current assets Grand Total Security name Oriental Bank of Commerce 2011 Bank of India 2012 Central Bank of India 2011 9.95% State Bank of India 2021 State Bank of Hyderabad 2011 Union Bank of India 2011 8.25% Canara Bank 2011 9.80% Bank of India 2011 9.70% Canara Bank 2012 9.58% Bank of India 2011 10.30% Canara Bank 2013 Syndicate Bank 2011 10.30% IDBI Bank Limited 2012 9.87% Axis Bank Limited 2012 9.95% Axis Bank Limited 2012 10.02% Union Bank of India 2013 10.30% Axis Bank Limited 2013 10.03% Bank of India 2012 Corporation Bank 2012 Bank of Baroda 2012 9.78% State Bank of Patiala 2011 State Bank of Bikaner & Jaipur 2012 State Bank of Bikaner & Jaipur 2011 Jammu & Kashmir Bank Limited 9.80% Bank of India 2012 8.10% State Bank of Patiala 2011 State Bank of Patiala 2011 State Bank of Travancore 2011 9.45% Punjab National Bank 2011 9.55% Oriental Bank of Commerce 2011 9.00% State Bank of India 2011 9.02% Punjab National Bank 2011 State Bank of India 2011 State Bank of India 2012 State Bank of Hyderabad 2012 Canara Bank Bank of India Canara Bank 2011 8.98% State Bank of Patiala 2011 Federal Bank Limited 2011 Indian Bank 2011 Indian Overseas Bank 2011 Axis Bank Limited 2012 10.10% Axis Bank Limited 2017 ICICI Bank Limited 2012 8.47% IDBI Bank Limited 2011 Asset type CD CD CD NCD CD CD FD FD FD FD FD CD NCD FD FD FD FD FD CD CD FD CD CD Equity FD FD CD CD FD FD FD FD CD CD CD Equity Equity CD FD CD CD CD CD NCD CD NCD Market value (` 000) 21,919 21,804 21,398 19,274 18,296 16,977 15,867 15,517 15,516 15,496 14,690 14,547 14,265 13,404 13,303 12,946 12,893 12,343 11,935 11,934 11,633 11,189 10,856 10,488 9,045 7,936 7,855 7,837 7,752 7,752 7,720 7,708 7,605 6,923 5,967 4,687 4,627 4,001 3,901 3,776 3,636 3,635 3,607 3,602 2,981 2,137 1,201,221 1,248,056 38,937 2,488,214 % of assets held 0.88% 0.88% 0.86% 0.77% 0.74% 0.68% 0.64% 0.62% 0.62% 0.62% 0.59% 0.58% 0.57% 0.54% 0.53% 0.52% 0.52% 0.50% 0.48% 0.48% 0.47% 0.45% 0.44% 0.42% 0.36% 0.32% 0.32% 0.31% 0.31% 0.31% 0.31% 0.31% 0.31% 0.28% 0.24% 0.19% 0.19% 0.16% 0.16% 0.15% 0.15% 0.15% 0.14% 0.14% 0.12% 0.09% 48.28% 50.16% 1.56% 100.00%
New Invest Shield Balanced Fund (as on March 31, 2010) Industry Banking services Security name ICICI Bank Limited 2010 HDFC Bank Limited 7.05% Canara Bank 2011 Bank of India 2011 Axis Bank Limited 9.25% IDBI Bank Limited 2014 7% Canara Bank 2011 Oriental Bank of Commerce 2010 Allahabad Bank 2010 Bank of Baroda 2011 HDFC Bank Limited 2011 Axis Bank Limited 2010 10.3% IDBI Bank Limited 2012 Bank of Baroda United Bank of India 2010 Yes Bank Limited 2011 6.99% Union Bank of India 2011 Oriental Bank of Commerce 2011 State Bank of Patiala 2010 Corporation Bank 2011 Union Bank of India 2010 10.1% Axis Bank Limited 2017 State Bank of India 8.47% IDBI Bank Limited 2013 9.8% ICICI Bank Limited 2013 Union Bank of India Asset type CD Equity FD CD Equity NCD FD CD CD CD CD CD NCD Equity CD CD FD CD CD CD CD NCD Equity NCD NCD Equity Market value (` 000) 86,128 60,381 49,223 48,455 37,737 32,414 31,772 28,981 26,680 25,376 23,840 20,781 15,003 13,420 13,132 12,643 12,426 11,709 11,527 7,837 5,586 3,706 3,533 2,173 1,498 1,462 587,423 % of assets held 3.93% 2.75% 2.24% 2.21% 1.72% 1.48% 1.45% 1.32% 1.22% 1.16% 1.09% 0.95% 0.68% 0.61% 0.60% 0.58% 0.57% 0.53% 0.53% 0.36% 0.25% 0.17% 0.16% 0.10% 0.07% 0.07% 26.79%
242

New Invest Shield Balanced Fund (as on March 31, 2010) Industry Financial institutions Security name NABARD 2010 7.9% Rural Electrification Corporation Limited 2012 10.9% Rural Electrification Corporation Limited 2013 11.1% Power Finance Corporation Limited 2013 11.4% Power Finance Corporation Limited 2013 8.46% Indian Railway Finance Corporation Limited 2014 Rural Electrification Corporation Limited 7.15% Rural Electrification Corporation Limited 2012 6.55% National Housing Bank 2012 9.05% Infrastructure Development Finance Company Limited 2010 9.8% Power Finance Corporation Limited 2012 6.42% National Housing Bank 2012 11.5% Rural Electrification Corporation Limited 2013 9.4% Power Finance Corporation Limited 2013 0% Infrastructure Development Finance Company Limited 2011 9.76% Indian Railway Finance Corporation Limited 2012 10.75% Power Finance Corporation Limited 2011 8.4% Indian Railway Finance Corporation Limited 2013 6.9% National Housing Bank 2012 8.5% Export-Import Bank of India 2011 9.03% Power Finance Corporation Limited 2013 9% Infrastructure Development Finance Company Limited 2010 8.6% Infrastructure Development Finance Company Limited 2011 9.5% Export-Import Bank of India 2013 Power Finance Corporation Limited 2019 8.5% Power Finance Corporation Limited 2014 8.75% Indian Railway Finance Corporation Limited 2013 9.68% Indian Railway Finance Corporation Limited 2012 9.45% Rural Electrification Corporation Limited 2013 8.94% Power Finance Corporation Limited 2013 8.55% Power Finance Corporation Limited 2011 8.88% Infrastructure Development Finance Company Limited 2011 8.45% Power Finance Corporation Limited 2014 7.75% Rural Electrification Corporation Limited 2012 8.83% Indian Railway Finance Corporation Limited 2012 7.73% Bharat Petroleum Corporation Limited 2012 Reliance Industries Limited 11.45% Reliance Industries Limited 2013 7% Indian Oil Corporation Limited 2012 10.1% Reliance Industries Limited 2011 Bharat Petroleum Corporation Limited 7.35% Hindustan Petroleum Corporation Limited 2012 Hindustan Petroleum Corporation Limited Asset type CP NCD NCD NCD NCD NCD Equity NCD NCD NCD NCD NCD NCD NCD ZCB NCB NCD NCD NCD NCB NCD NCD NCD NCD FRN NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD Equity NCD NCD NCD Equity NCD Equity Market value (` 000) 125,256 19,719 19,521 18,199 17,996 13,764 12,628 12,519 10,192 9,250 8,882 8,376 7,004 6,768 6,567 5,956 5,270 5,258 5,152 5,111 4,946 4,814 4,587 4,511 4,247 4,013 3,622 2,761 2,695 2,607 1,720 1,715 1,695 1,663 721 369,705 72,260 62,072 52,659 26,753 7,108 5,181 4,202 3,950 234,185 972,344 29,432 2,193,089 % of assets held 5.71% 0.90% 0.89% 0.83% 0.82% 0.63% 0.58% 0.57% 0.46% 0.42% 0.40% 0.38% 0.32% 0.31% 0.30% 0.27% 0.24% 0.24% 0.23% 0.23% 0.23% 0.22% 0.21% 0.21% 0.19% 0.18% 0.17% 0.13% 0.12% 0.12% 0.08% 0.08% 0.08% 0.08% 0.03% 16.86% 3.29% 2.83% 2.40% 1.22% 0.32% 0.24% 0.19% 0.18% 10.68% 44.34% 1.34% 100.00%
Opportunities Fund (as on March 31, 2011) Industry Banking services Banking services total Others Net current assets Grand Total Security name HDFC Bank Limited State Bank of India Bank of Baroda ICICI Bank Limited 2011 Axis Bank Limited Kotak Mahindra Bank Limited Allahabad Bank Punjab National Bank Asset type Equity Equity Equity CD Equity Equity Equity Equity Market value (` 000) 56,969 35,023 28,994 26,886 25,186 18,080 9,489 1,265 201,892 982,294 52,668 1,236,854 % of assets held 4.61% 2.83% 2.34% 2.17% 2.04% 1.46% 0.77% 0.10% 16.32% 79.42% 4.26% 100.00%
Opportunities Fund (as on March 31, 2010) Industry Banking services HDFC Bank Limited Bank of Baroda State Bank of India Punjab National Bank Union Bank of India 2010 Security name Asset type Equity Equity Equity Equity CD Market value (` 000) 7,189 7,100 6,594 5,666 4,867 31,416 116,868 2,789 151,073 % of assets held 4.76% 4.70% 4.36% 3.75% 3.22% 20.80% 77.36% 1.85% 100.00%
243
financial Report
Pension Balancer Fund (as on March 31, 2011) Industry Banking services Banking services total Others Net current assets Grand Total Bank of India 2011 HDFC Bank Limited IDBI Bank Limited 2011 Allahabad Bank 10.35% Canara Bank 2012 State Bank of Hyderabad 2011 9.70% Canara Bank 2011 Punjab National Bank 9.85% Bank of India 2011 Kotak Mahindra Bank Limited Bank of Baroda Punjab National Bank 2012 Axis Bank Limited Bank of Baroda 2011 Bank of India 2012 Central Bank of India 2011 Corporation Bank 2012 9.95% State Bank of India 2021 Jammu & Kashmir Bank Limited 8.25% Canara Bank 2011 9.70% Canara Bank 2012 9.58% Bank of India 2011 ICICI Bank Limited 2011 10.30% Canara Bank 2013 9.80% Bank of India 2011 9.87% Axis Bank Limited 2012 Syndicate Bank 2011 9.95% Axis Bank Limited 2012 10.02% Union Bank of India 2013 10.30% Axis Bank Limited 2013 10.03% Bank of India 2012 Corporation Bank 2011 9.78% State Bank of Patiala 2011 State Bank of Bikaner & Jaipur 2011 9.80% Bank of India 2012 Bank of Baroda 2012 10.31% Union Bank of India 2012 8.10% State Bank of Patiala 2011 State Bank of Patiala 2011 9.45% Punjab National Bank 2011 State Bank of Travancore 2011 9.00% State Bank of India 2011 State Bank of India 2011 9.55% Oriental Bank of Commerce 2011 9.02% Punjab National Bank 2011 Union Bank of India 2011 State Bank of India 2012 State Bank of Mysore 2011 Andhra Bank 2011 State Bank of Hyderabad 2012 11.35% IDBI Bank Limited 2013 Canara Bank 2011 8.98% State Bank of Patiala 2011 Federal Bank Limited 2011 United Bank of India Indian Overseas Bank 2011 Indian Bank 2011 Axis Bank Limited 2012 State Bank of Bikaner & Jaipur 2012 ICICI Bank Limited 2012 8.47% IDBI Bank Limited 2011 Union Bank of India 9.80% ICICI Bank Limited 2013 Security name 9.85% State Bank of India 2013 Asset type FD CD Equity CD Equity FD CD FD Equity FD Equity Equity CD Equity CD CD CD CD NCD Equity FD FD FD CD FD FD FD CD FD FD FD FD CD FD CD FD CD FD FD CD FD CD FD CD FD FD CD CD CD CD CD NCD CD FD CD Equity CD CD CD CD CD NCD Equity NCD Market value (` 000) 503,977 381,736 310,264 305,870 232,048 220,150 211,229 209,397 196,733 181,607 179,621 164,989 162,733 151,377 134,497 127,449 123,533 120,554 111,915 111,872 90,622 89,875 89,676 86,866 84,903 83,873 78,228 77,240 74,868 74,829 74,819 71,346 65,525 64,325 62,322 52,178 50,629 45,426 45,266 44,780 44,622 44,604 44,522 44,485 44,472 43,397 43,169 40,020 36,182 35,459 34,829 31,734 23,556 22,359 21,916 21,260 21,064 21,059 20,935 19,629 17,310 16,174 7,617 472 6,249,993 8,109,147 222,619 14,581,759 % of assets held 3.46% 2.62% 2.13% 2.10% 1.59% 1.51% 1.45% 1.44% 1.35% 1.25% 1.23% 1.13% 1.12% 1.04% 0.92% 0.87% 0.85% 0.83% 0.77% 0.77% 0.62% 0.62% 0.61% 0.60% 0.58% 0.58% 0.54% 0.53% 0.51% 0.51% 0.51% 0.49% 0.45% 0.44% 0.43% 0.36% 0.35% 0.31% 0.31% 0.31% 0.31% 0.31% 0.31% 0.31% 0.30% 0.30% 0.30% 0.27% 0.25% 0.24% 0.24% 0.22% 0.16% 0.15% 0.15% 0.15% 0.14% 0.14% 0.14% 0.13% 0.12% 0.11% 0.05% 0.00% 42.86% 55.61% 1.53% 100.00%
244

Pension Balancer Fund (as on March 31, 2010) Industry Banking services Security name HDFC Bank Limited ICICI Bank Limited 2010 7.05% Canara Bank 2011 Bank of India 2011 Axis Bank Limited Allahabad Bank 2010 9.25% IDBI Bank Limited 2014 7% Canara Bank 2011 Oriental Bank of Commerce 2010 HDFC Bank Limited 2011 Bank of Baroda 2011 Axis Bank Limited 2010 6.99% Union Bank of India 2011 Oriental Bank of Commerce 2011 United Bank of India 2010 Yes Bank Limited 2011 Corporation Bank 2011 Union Bank of India 2010 11.35% IDBI Bank Limited 2013 State Bank of India Bank of Baroda State Bank of Patiala 2010 8.47% IDBI Bank Limited 2013 9.8% ICICI Bank Limited 2013 Union Bank of India 9.5% IDBI Bank Limited 2013 11.4% Power Finance Corporation Limited 2013 7.9% Rural Electrification Corporation Limited 2012 10.9% Rural Electrification Corporation Limited 2013 9.05% Infrastructure Development Finance Company Limited 2013 8.46% Indian Railway Finance Corporation Limited 2014 7.15% Rural Electrification Corporation Limited 2012 9.05% Infrastructure Development Finance Company Limited 2010 9% Infrastructure Development Finance Company Limited 2010 9.03% Power Finance Corporation Limited 2013 7.75% Rural Electrification Corporation Limited 2012 6.55% National Housing Bank 2012 Power Finance Corporation Limited 2010 8.6% Infrastructure Development Finance Company Limited 2011 9.4% Power Finance Corporation Limited 2013 9.45% Rural Electrification Corporation Limited 2013 9.8% Power Finance Corporation Limited 2012 9.2% NABARD 2012 6.42% National Housing Bank 2012 11.1% Power Finance Corporation Limited 2013 9.76% Indian Railway Finance Corporation Limited 2012 11.5% Rural Electrification Corporation Limited 2013 0% Infrastructure Development Finance Company Limited 2011 Rural Electrification Corporation Limited 10.75% Power Finance Corporation Limited 2011 8.4% Indian Railway Finance Corporation Limited 2013 6.9% National Housing Bank 2012 8.5% Export-Import Bank of India 2011 9.5% Export-Import Bank of India 2013 Power Finance Corporation Limited 2019 8.5% Power Finance Corporation Limited 2014 8.75% Indian Railway Finance Corporation Limited 2013 NABARD 2010 8.78% Power Finance Corporation Limited 2016 10.6% Indian Railway Finance Corporation Limited 2018 9.68% Indian Railway Finance Corporation Limited 2012 8.94% Power Finance Corporation Limited 2013 9.4% NABARD 2011 11.4% Infrastructure Development Finance Company Limited 2013 8.55% Power Finance Corporation Limited 2011 8.45% Power Finance Corporation Limited 2014 8.88% Infrastructure Development Finance Company Limited 2011 8.57% Indian Railway Finance Corporation Limited 2016 8.83% Indian Railway Finance Corporation Limited 2012 7.73% Bharat Petroleum Corporation Limited 2012 11.45% Reliance Industries Limited 2013 Reliance Industries Limited 7% Indian Oil Corporation Limited 2012 10.1% Reliance Industries Limited 2011 7.35% Hindustan Petroleum Corporation Limited 2012 Bharat Petroleum Corporation Limited NCD NCD Equity NCD NCD NCD Equity Asset type Equity CD FD CD Equity CD NCD FD CD CD CD CD FD CD CD CD CD CD NCD Equity Equity CD NCD NCD Equity FD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD PTC NCD NCD NCD NCD NCD NCD NCD NCB NCD ZCB Equity NCD NCD NCD NCB NCD FRN NCD NCD CP NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD Market value (` 000) 396,292 392,192 321,153 295,873 236,606 220,628 202,645 198,936 196,813 145,220 132,927 129,640 77,112 72,762 68,790 66,226 48,779 37,536 33,603 29,785 23,645 17,811 16,462 9,659 8,038 180 3,379,313 126,535 123,319 119,639 112,411 84,903 78,536 75,585 73,453 72,385 63,538 63,428 61,599 59,948 58,990 57,350 55,411 51,977 51,021 49,122 45,664 43,086 40,932 39,465 33,007 32,262 32,051 27,702 27,384 26,371 24,913 22,526 21,613 20,736 17,527 17,409 16,516 14,153 11,050 10,773 10,548 10,478 7,753 6,070 1,999,139 445,858 375,620 321,063 160,028 43,081 26,123 19,375 1,391,148 6,394,401 213,585 13,377,586 % of assets held 2.96% 2.93% 2.40% 2.21% 1.77% 1.65% 1.51% 1.49% 1.47% 1.09% 0.99% 0.97% 0.58% 0.54% 0.51% 0.50% 0.36% 0.28% 0.25% 0.22% 0.18% 0.13% 0.12% 0.07% 0.06% 0.00% 25.26% 0.95% 0.92% 0.89% 0.84% 0.63% 0.59% 0.57% 0.55% 0.54% 0.47% 0.47% 0.46% 0.45% 0.44% 0.43% 0.41% 0.39% 0.38% 0.37% 0.34% 0.32% 0.31% 0.30% 0.25% 0.24% 0.24% 0.21% 0.20% 0.20% 0.19% 0.17% 0.16% 0.16% 0.13% 0.13% 0.12% 0.11% 0.08% 0.08% 0.08% 0.08% 0.06% 0.05% 14.94% 3.33% 2.81% 2.40% 1.20% 0.32% 0.20% 0.14% 10.40% 47.80% 1.60% 100.00%
245
financial Report
Pension Bluechip Fund (as on March 31, 2011) Industry Banking services Banking services total Computer software Computer software total Others Net current assets Grand Total Security name HDFC Bank Limited Kotak Mahindra Bank Limited Bank of Baroda Punjab National Bank Allahabad Bank Axis Bank Limited Jammu & Kashmir Bank Limited Canara Bank Bank of India Infosys Technologies Limited Tata Consultancy Services Limited HCL Technologies Limited Asset type Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Equity Market value (` 000) 75,236 46,529 40,910 39,647 39,490 28,689 13,110 10,145 10,030 303,786 123,451 70,154 43,152 236,757 834,552 20,895 1,395,990 % of assets held 5.39% 3.33% 2.93% 2.84% 2.83% 2.06% 0.94% 0.73% 0.72% 21.76% 8.84% 5.03% 3.09% 16.96% 59.78% 1.50% 100.00%
Pension Bluechip Fund (as on March 31, 2010) Industry Banking services HDFC Bank Limited State Bank of India Axis Bank Limited Punjab National Bank Infosys Technologies Limited Tata Consultancy Services Limited Wipro Limited HCL Technologies Limited Security name Asset type Equity Equity Equity Equity Equity Equity Equity Equity Market value (` 000) 25,576 19,855 10,540 4,993 60,964 37,570 14,444 7,859 2,825 62,698 406,210 1,558 531,430 % of assets held 4.81% 3.74% 1.98% 0.94% 11.47% 7.07% 2.72% 1.48% 0.53% 11.80% 76.44% 0.29% 100.00%
Pension Dynamic P/E Fund (as on March 31, 2011) Industry Banking services Banking services total Computer software Computer software total Others Net current assets Grand Total Security name HDFC Bank Limited State Bank of India Axis Bank Limited Punjab National Bank Kotak Mahindra Bank Limited Infosys Technologies Limited Tata Consultancy Services Limited Wipro Limited HCL Technologies Limited Asset type Equity Equity Equity Equity Equity Equity Equity Equity Equity Market value (` 000) 791,077 677,949 340,188 158,666 112,371 2,080,251 956,265 365,337 149,117 70,663 1,541,382 7,365,821 140,124 11,127,578 % of assets held 7.11% 6.09% 3.06% 1.43% 1.01% 18.69% 8.59% 3.28% 1.34% 0.64% 13.85% 66.19% 1.26% 100.00%
Pension Dynamic P/E Fund (as on March 31, 2010) Industry Banking services HDFC Bank Limited State Bank of India Axis Bank Limited Punjab National Bank Infosys Technologies Limited Tata Consultancy Services Limited Wipro Limited HCL Technologies Limited Security name Asset type Equity Equity Equity Equity Equity Equity Equity Equity Market value (` 000) 189,988 164,855 88,774 41,486 485,103 235,357 73,307 39,400 14,210 362,274 2,002,203 343,958 3,193,538 % of assets held 5.95% 5.16% 2.78% 1.30% 15.19% 7.37% 2.30% 1.23% 0.44% 11.34% 62.70% 10.77% 100.00%
246

Pension Flexi Balanced Fund (as on March 31, 2011) Industry Banking services Banking services total Others Net current assets Grand Total Security name HDFC Bank Limited 9.85% State Bank of India 2013 State Bank of India Bank of India 2011 Corporation Bank 2012 Punjab National Bank 2012 State Bank of Hyderabad 2011 10.35% Canara Bank 2012 9.70% Canara Bank 2011 Bank of Baroda 2011 Bank of Baroda 2012 9.85% Bank of India 2011 State Bank of Mysore 2011 Axis Bank Limited Andhra Bank 2011 Oriental Bank of Commerce 2011 Bank of India 2012 Corporation Bank 2011 Central Bank of India 2011 Bank of Baroda 10.31% Union Bank of India 2012 9.95% State Bank of India 2021 Union Bank of India 2011 9.58% Bank of India 2011 9.70% Canara Bank 2012 9.80% Bank of India 2011 ICICI Bank Limited 2011 Syndicate Bank 2011 8.25% Canara Bank 2011 10.30% Canara Bank 2013 9.87% Axis Bank Limited 2012 9.95% Axis Bank Limited 2012 10.02% Union Bank of India 2013 10.30% Axis Bank Limited 2013 10.03% Bank of India 2012 9.78% State Bank of Patiala 2011 State Bank of Bikaner & Jaipur 2011 10.30% IDBI Bank Limited 2012 9.80% Bank of India 2012 State Bank of Bikaner & Jaipur 2012 State Bank of India 2011 9.45% Punjab National Bank 2011 9.55% Oriental Bank of Commerce 2011 9.00% State Bank of India 2011 9.02% Punjab National Bank 2011 State Bank of Patiala 2011 8.10% State Bank of Patiala 2011 State Bank of Travancore 2011 State Bank of India 2012 State Bank of Hyderabad 2012 Axis Bank Limited 2011 Canara Bank 2011 Federal Bank Limited 2011 8.98% State Bank of Patiala 2011 Indian Overseas Bank 2011 Indian Bank 2011 Axis Bank Limited 2012 ICICI Bank Limited 2012 10.10% Axis Bank Limited 2017 8.47% IDBI Bank Limited 2011 Asset type Equity FD Equity CD CD CD CD FD FD CD CD FD CD Equity CD CD CD CD CD Equity FD NCD CD FD FD FD CD CD FD FD FD FD FD FD FD FD CD NCD FD CD CD FD FD FD FD CD FD CD CD CD CD CD CD FD CD CD CD CD NCD NCD Market value (` 000) 75,168 70,483 59,482 56,213 42,836 39,327 30,712 30,236 29,821 27,065 26,898 25,522 23,635 23,165 23,163 18,308 18,191 17,955 17,296 16,788 16,277 15,472 13,721 12,819 12,803 12,720 12,157 12,033 12,028 11,564 11,064 10,650 10,628 10,562 10,134 9,555 8,873 7,654 7,322 7,029 6,378 6,326 6,326 6,161 6,136 6,087 6,074 6,056 5,529 4,796 3,488 3,281 3,130 3,080 3,007 3,000 2,990 2,384 1,440 1,051 984,049 1,807,672 32,139 2,823,860 % of assets held 2.66% 2.50% 2.11% 1.99% 1.52% 1.39% 1.09% 1.07% 1.06% 0.96% 0.95% 0.90% 0.84% 0.82% 0.82% 0.65% 0.64% 0.64% 0.61% 0.59% 0.58% 0.55% 0.49% 0.45% 0.45% 0.45% 0.43% 0.43% 0.43% 0.41% 0.39% 0.38% 0.38% 0.37% 0.36% 0.34% 0.31% 0.27% 0.26% 0.25% 0.23% 0.22% 0.22% 0.22% 0.22% 0.22% 0.22% 0.21% 0.20% 0.17% 0.12% 0.12% 0.11% 0.11% 0.11% 0.11% 0.11% 0.08% 0.05% 0.04% 34.85% 64.01% 1.14% 100.00%
Pension Flexi Balanced Fund (as on March 31, 2010) Industry Banking services Security name Axis Bank Limited 2010 HDFC Bank Limited ICICI Bank Limited 2010 Axis Bank Limited Bank of India 2011 7.05% Canara Bank 2011 Allahabad Bank 2010 Bank of Baroda 2011 Oriental Bank of Commerce 2010 7% Canara Bank 2011 9.25% IDBI Bank Limited 2014 Asset type CD Equity CD Equity CD FD CD CD CD FD NCD Market value (` 000) 174,014 69,186 65,763 48,016 44,029 37,848 36,149 34,383 29,636 22,999 21,271 % of assets held 7.20% 2.86% 2.72% 1.99% 1.82% 1.57% 1.50% 1.42% 1.23% 0.95% 0.88%
247
financial Report
Pension Flexi Balanced Fund (as on March 31, 2010) Industry Security name HDFC Bank Limited 2011 United Bank of India 2010 Yes Bank Limited 2011 Bank of Baroda Union Bank of India 2010 6.99% Union Bank of India 2011 Oriental Bank of Commerce 2011 10.3% IDBI Bank Limited 2012 Corporation Bank 2011 Union Bank of India 10.1% Axis Bank Limited 2017 8.47% IDBI Bank Limited 2013 9.8% ICICI Bank Limited 2013 Banking services total Others Net current assets Grand Total Asset type CD CD CD Equity CD FD CD NCD CD Equity NCD NCD NCD Market value (` 000) 18,351 17,793 17,130 14,059 9,416 9,105 8,577 8,050 5,811 3,800 1,482 1,072 723 698,663 1,687,159 30,622 2,416,444 % of assets held 0.76% 0.74% 0.71% 0.58% 0.39% 0.38% 0.35% 0.33% 0.24% 0.16% 0.06% 0.04% 0.03% 28.91% 69.82% 1.27% 100.00%
Pension Flexi Growth Fund (as on March 31, 2011) Industry Banking services Banking services total Computer software Computer software total Others Net current assets Grand Total Security name 9.75% State Bank of Bikaner & Jaipur 2021 HDFC Bank Limited Axis Bank Limited Bank of Baroda Punjab National Bank 2012 Punjab National Bank Kotak Mahindra Bank Limited State Bank of India Union Bank of India ICICI Bank Limited 2011 Bank of India 2012 Axis Bank Limited 2011 Bank of India 2011 Infosys Technologies Limited Tata Consultancy Services Limited Wipro Limited KPIT Cummins Infosystems Limited Onmobile Global Limited Infotech Enterprises Limited Asset type FD Equity Equity Equity CD Equity Equity Equity Equity CD CD CD CD Equity Equity Equity Equity Equity Equity Market value (` 000) 30,800 4,719,050 3,003,060 1,055,137 881,164 663,489 632,789 276,928 213,906 199,792 196,070 165,432 80,174 12,117,791 4,109,320 2,241,992 998,016 381,869 136,371 79,186 7,946,754 43,370,645 1,015,547 64,450,737 % of assets held 0.05% 7.32% 4.66% 1.64% 1.37% 1.03% 0.98% 0.43% 0.33% 0.31% 0.30% 0.26% 0.12% 18.80% 6.38% 3.48% 1.55% 0.59% 0.21% 0.12% 12.33% 67.29% 1.58% 100.00%
Pension Flexi Growth Fund (as on March 31, 2010) Industry Banking services Security name HDFC Bank Limited Axis Bank Limited Punjab National Bank 2010 State Bank of India State Bank of Travancore 2010 Punjab National Bank Bank of Baroda HDFC Bank Limited 2010 Corporation Bank 2010 Syndicate Bank 2010 Union Bank of India State Bank of Patiala 2010 Asset type Equity Equity CD Equity CD Equity Equity CD CD CD Equity CD Market value (` 000) 4,066,516 2,364,608 1,193,842 850,283 725,691 632,074 577,062 483,324 483,017 449,938 180,057 64,534 12,070,946 47,044,658 325,852 59,441,456 % of assets held 6.84% 3.98% 2.01% 1.43% 1.22% 1.06% 0.97% 0.81% 0.81% 0.76% 0.30% 0.11% 20.31% 79.14% 0.55% 100.00%
248

Pension Income Fund (as on March 31, 2011) Industry Banking services Banking services total Others Net current assets Grand Total Security name Uco Bank 2011 Axis Bank Limited 2011 9.85% State Bank of India 2013 Bank of Baroda 2011 Corporation Bank 2012 Bank of India 2011 Union Bank of India 2011 IDBI Bank Limited 2011 State Bank of Hyderabad 2011 10.35% Canara Bank 2012 9.70% Canara Bank 2011 IDBI Bank Limited 2012 9.85% Bank of India 2011 Punjab National Bank 2012 Oriental Bank of Commerce 2011 Corporation Bank 2011 Central Bank of India 2011 Bank of India 2012 9.95% State Bank of India 2021 10.31% Union Bank of India 2012 8.25% Canara Bank 2011 9.58% Bank of India 2011 9.70% Canara Bank 2012 9.80% Bank of India 2011 10.30% Canara Bank 2013 Indian Bank 2011 ICICI Bank Limited 2011 Syndicate Bank 2011 10.30% Axis Bank Limited 2013 10.02% Union Bank of India 2013 Bank of Baroda 2012 9.87% Axis Bank Limited 2012 9.95% Axis Bank Limited 2012 State Bank of Patiala 2012 9.78% State Bank of Patiala 2011 State Bank of Bikaner & Jaipur 2011 9.80% Bank of India 2012 8.10% State Bank of Patiala 2011 State Bank of Patiala 2011 9.02% Punjab National Bank 2011 9.45% Punjab National Bank 2011 9.55% Oriental Bank of Commerce 2011 9.00% State Bank of India 2011 State Bank of Travancore 2011 State Bank of India 2012 State Bank of India 2011 State Bank of Mysore 2011 Andhra Bank 2011 State Bank of Hyderabad 2012 State Bank of Bikaner & Jaipur 2012 8.98% State Bank of Patiala 2011 Federal Bank Limited 2011 Indian Overseas Bank 2011 Axis Bank Limited 2012 Canara Bank 2011 ICICI Bank Limited 2012 Asset type CD CD FD CD CD CD CD CD CD FD FD CD FD CD CD CD CD CD NCD FD FD FD FD FD FD CD CD CD FD FD CD FD FD CD FD CD FD FD CD FD FD FD FD CD CD CD CD CD CD CD FD CD CD CD CD CD Market value (` 000) 327,369 196,616 192,185 139,988 130,444 128,049 126,806 106,129 100,252 90,010 81,428 81,106 69,370 67,863 65,074 52,744 49,162 48,059 47,171 37,035 35,950 34,987 34,917 34,764 34,730 34,355 33,315 32,712 30,682 30,139 29,576 29,308 29,290 27,742 26,067 24,203 19,930 18,039 17,562 17,553 17,517 17,517 17,497 17,456 16,997 16,829 15,234 14,930 14,226 9,265 8,795 8,309 8,174 7,937 7,785 7,311 2,918,460 835,513 89,678 3,843,651 % of assets held 8.52% 5.12% 5.00% 3.64% 3.39% 3.33% 3.30% 2.76% 2.61% 2.34% 2.12% 2.11% 1.80% 1.77% 1.69% 1.37% 1.28% 1.25% 1.23% 0.96% 0.94% 0.91% 0.91% 0.90% 0.90% 0.89% 0.87% 0.85% 0.80% 0.78% 0.77% 0.76% 0.76% 0.72% 0.68% 0.63% 0.52% 0.47% 0.46% 0.46% 0.46% 0.46% 0.46% 0.45% 0.44% 0.44% 0.40% 0.39% 0.37% 0.24% 0.23% 0.22% 0.21% 0.21% 0.20% 0.19% 75.93% 21.74% 2.33% 100.00%
Pension Income Fund (as on March 31, 2010) Industry Banking services Security name Punjab National Bank 2010 Union Bank of India 2010 Axis Bank Limited 2010 Andhra Bank 2010 State Bank of Patiala 2010 ICICI Bank Limited 2010 State Bank of Travancore 2010 Bank of India 2011 Oriental Bank of Commerce 2010 7.05% Canara Bank 2011 Allahabad Bank 2010 Bank of Baroda 2011 7% Canara Bank 2011 9.25% IDBI Bank Limited 2014 HDFC Bank Limited 2011 Asset type CD CD CD CD CD CD CD CD CD FD CD CD FD NCD CD Market value (` 000) 99,487 97,341 83,393 72,375 72,345 57,213 49,727 34,547 33,840 32,659 26,350 25,063 18,655 17,028 16,363 % of assets held 6.35% 6.22% 5.33% 4.62% 4.62% 3.65% 3.18% 2.21% 2.16% 2.09% 1.68% 1.60% 1.19% 1.09% 1.05%
249
financial Report
Pension Income Fund (as on March 31, 2010) Industry Security name United Bank of India 2010 Yes Bank Limited 2011 9.5% Axis Bank Limited 2022 6.99% Union Bank of India 2011 Oriental Bank of Commerce 2011 Corporation Bank 2011 Banking services total Electricity distribution 8.84% Power Grid Corporation of India Limited 2014 Kotak Mahindra Prime Trustee 2013 7.1% Power Grid Corporation of India Limited 2011 NABARD 2010 9.5% NABARD 2012 6.55% National Housing Bank 2012 7.75% Rural Electrification Corporation Limited 2012 0% Infrastructure Development Finance Company Limited 2011 6.42% National Housing Bank 2012 11.15% Power Finance Corporation Limited 2011 8.46% Indian Railway Finance Corporation Limited 2014 7.15% Rural Electrification Corporation Limited 2012 9.05% Infrastructure Development Finance Company Limited 2010 9% Infrastructure Development Finance Company Limited 2010 8.6% Infrastructure Development Finance Company Limited 2011 10.75% Power Finance Corporation Limited 2011 8.55% Power Finance Corporation Limited 2011 CP NCD NCD NCD ZCB NCD NCD NCD NCD NCD NCD NCD NCD NCD Asset type CD CD NCD FD CD CD NCD PTC NCD Market value (` 000) 12,970 12,487 9,139 7,063 6,426 3,810 788,281 81,418 51,603 25,345 158,366 69,751 41,695 39,850 19,071 6,159 5,749 4,273 3,856 897 563 489 227 170 55 192,805 345,979 80,138 1,565,569 % of assets held 0.83% 0.80% 0.58% 0.45% 0.41% 0.24% 50.35% 5.20% 3.30% 1.62% 10.12% 4.46% 2.66% 2.55% 1.22% 0.39% 0.37% 0.27% 0.25% 0.06% 0.04% 0.03% 0.01% 0.01% 0.00% 12.32% 22.10% 5.12% 100.00%
Pension Maximiser Fund (as on March 31, 2011) Industry Banking services Banking services total Others Net current assets Grand Total Security name HDFC Bank Limited Axis Bank Limited Bank of India 2012 Punjab National Bank Union Bank of India 2011 State Bank of Hyderabad 2011 Union Bank of India Corporation Bank 2011 Oriental Bank of Commerce State Bank of Bikaner & Jaipur 2011 9.75% State Bank of Bikaner & Jaipur 2016 Oriental Bank of Commerce 2011 Axis Bank Limited 2011 Jammu & Kashmir Bank Limited ICICI Bank Limited 2011 9.75% State Bank of Bikaner & Jaipur 2014 Asset type Equity Equity CD Equity CD CD Equity CD Equity CD FD CD CD Equity CD FD Market value (` 000) 2,936,831 573,068 372,172 298,948 258,177 257,921 249,881 239,807 228,645 191,410 148,500 130,608 130,563 92,382 63,729 38,760 6,211,402 26,610,013 6,467 32,827,880 % of assets held 8.95% 1.75% 1.13% 0.91% 0.79% 0.79% 0.76% 0.73% 0.70% 0.58% 0.45% 0.40% 0.40% 0.28% 0.19% 0.12% 18.92% 81.06% 0.02% 100.00%
Pension Maximiser Fund (as on March 31, 2010) Industry Banking services HDFC Bank Limited Axis Bank Limited Bank of Baroda 2011 Union Bank of India Oriental Bank of Commerce Punjab National Bank ICICI Bank Limited 2010 State Bank of Patiala 2010 Axis Bank Limited 2010 Security name Asset type Equity Equity CD Equity Equity Equity CD CD CD Market value (` 000) 3,203,748 2,432,249 946,375 507,725 349,097 249,657 134,060 64,534 13,387 7,900,832 28,531,044 138,880 36,570,756 % of assets held 8.76% 6.65% 2.59% 1.39% 0.95% 0.68% 0.37% 0.18% 0.04% 21.60% 78.02% 0.38% 100.00%
250

Pension Money Market Fund (as on March 31, 2011) Industry Banking services Banking services total Others Net current assets Grand Total Security name Oriental Bank of Commerce 2011 10.25% Bank of Baroda 2012 9.85% State Bank of India 2013 Uco Bank 2011 Corporation Bank 2012 State Bank of Mysore 2011 Punjab National Bank 2012 9.70% Canara Bank 2011 10.35% Canara Bank 2012 Corporation Bank 2011 State Bank of Hyderabad 2011 Punjab National Bank 2011 Union Bank of India 2011 IDBI Bank Limited 2012 8.23% Canara Bank 2011 State Bank of Travancore 2011 Axis Bank Limited 2012 ICICI Bank Limited 2011 IDBI Bank Limited 2011 10.02% Union Bank of India 2013 9.95% Axis Bank Limited 2012 9.87% Axis Bank Limited 2012 10.30% Axis Bank Limited 2013 Axis Bank Limited 2011 Central Bank of India 2011 State Bank of Hyderabad 2012 Bank of India 2011 ICICI Bank Limited 2012 Asset type CD FD FD CD CD CD CD FD FD CD CD CD CD CD FD CD CD CD CD FD FD FD FD CD CD CD CD CD Market value (` 000) 90,607 62,863 60,155 59,701 55,234 40,662 36,394 33,240 31,050 30,461 30,431 30,296 29,522 28,386 20,000 14,951 14,632 12,233 11,925 8,697 8,670 8,661 8,658 4,617 4,196 3,880 2,965 1,949 745,036 263,200 15,200 1,023,436 % of assets held 8.85% 6.14% 5.88% 5.83% 5.40% 3.97% 3.56% 3.25% 3.03% 2.98% 2.97% 2.96% 2.88% 2.77% 1.95% 1.46% 1.43% 1.20% 1.17% 0.85% 0.85% 0.85% 0.85% 0.45% 0.41% 0.38% 0.29% 0.19% 72.80% 25.72% 1.49% 100.00%
Pension Money Market Fund (as on March 31, 2010) Industry Banking services Security name Oriental Bank of Commerce 2010 Syndicate Bank 2010 Central Bank of India 2010 Bank of India 2011 State Bank of Hyderabad 2010 Bank of Baroda 2011 Axis Bank Limited 2010 Yes Bank Limited 2011 State Bank of Travancore 2010 United Bank of India 2010 Andhra Bank 2010 State Bank of Patiala 2010 Union Bank of India 2010 Allahabad Bank 2010 Corporation Bank 2011 Corporation Bank 2010 ICICI Bank Limited 2010 7.25% State Bank of Indore 2010 State Bank of Bikaner & Jaipur 2010 Axis Bank Limited 2011 Asset type CD CD CD CD CD CD CD CD CD CD CD CD CD CD CD CD CD FD CD CD Market value (` 000) 25,227 22,973 22,749 21,219 20,165 19,862 19,826 18,359 17,902 16,147 14,572 14,542 13,141 12,838 9,865 9,843 9,248 9,100 2,523 1,907 302,008 9,780 69,250 381,038 % of assets held 6.62% 6.03% 5.97% 5.57% 5.29% 5.21% 5.20% 4.82% 4.70% 4.24% 3.82% 3.82% 3.45% 3.37% 2.59% 2.58% 2.43% 2.39% 0.66% 0.50% 79.26% 2.57% 18.17% 100.00%
Pension Multi Cap Balanced Fund (as on March 31, 2011) Industry Banking services Security name HDFC Bank Limited 2011 HDFC Bank Limited 9.85% State Bank of India 2013 Bank of India 2011 Corporation Bank 2012 State Bank of India Axis Bank Limited Punjab National Bank 2012 Bank of Baroda 2012 Bank of Baroda 2011 10.31% Union Bank of India 2012 State Bank of Mysore 2011 Andhra Bank 2011 Asset type CD Equity FD CD CD Equity Equity CD CD CD FD CD CD Market value (` 000) 74,709 30,149 28,467 24,312 24,290 22,122 21,295 20,842 18,294 18,068 14,519 14,133 13,850 % of assets held 5.81% 2.35% 2.22% 1.89% 1.89% 1.72% 1.66% 1.62% 1.42% 1.41% 1.13% 1.10% 1.08%
251
financial Report
Pension Multi Cap Balanced Fund (as on March 31, 2011) Industry Banking services total Others Net current assets Grand Total Security name 10.35% Canara Bank 2012 9.70% Canara Bank 2011 Bank of Baroda 9.85% Bank of India 2011 Union Bank of India Oriental Bank of Commerce 2011 Central Bank of India 2011 Bank of India 2012 9.95% State Bank of India 2021 State Bank of Bikaner & Jaipur 2012 State Bank of Hyderabad 2011 8.25% Canara Bank 2011 Corporation Bank 2011 10.30% Canara Bank 2013 Union Bank of India 2011 ICICI Bank Limited 2011 9.80% Bank of India 2011 9.58% Bank of India 2011 9.70% Canara Bank 2012 10.02% Union Bank of India 2013 10.30% Axis Bank Limited 2013 Syndicate Bank 2011 10.03% Bank of India 2012 9.95% Axis Bank Limited 2012 9.87% Axis Bank Limited 2012 9.78% State Bank of Patiala 2011 Kotak Mahindra Bank Limited State Bank of Bikaner & Jaipur 2011 State Bank of Patiala 2011 State Bank of Travancore 2011 8.10% State Bank of Patiala 2011 9.80% Bank of India 2012 State Bank of India 2011 State Bank of India 2012 9.00% State Bank of India 2011 9.02% Punjab National Bank 2011 9.45% Punjab National Bank 2011 9.55% Oriental Bank of Commerce 2011 State Bank of Hyderabad 2012 Canara Bank 2011 8.98% State Bank of Patiala 2011 Federal Bank Limited 2011 Axis Bank Limited 2012 Indian Bank 2011 Indian Overseas Bank 2011 ICICI Bank Limited 2012 Asset type FD FD Equity FD Equity CD CD CD NCD CD CD FD CD FD CD CD FD FD FD FD FD CD FD FD FD FD Equity CD CD CD FD FD CD CD FD FD FD FD CD CD FD CD CD CD CD CD Market value (` 000) 13,724 10,971 10,548 9,565 7,394 7,247 7,116 6,994 6,721 6,277 5,657 5,590 5,461 5,421 5,072 4,824 4,811 4,717 4,706 4,574 4,569 4,403 4,361 4,238 4,178 3,512 3,434 3,343 3,002 2,999 2,841 2,747 2,474 2,411 2,384 2,381 2,362 2,362 2,206 1,211 1,202 1,199 1,146 1,103 1,100 1,031 530,639 719,707 34,738 1,285,084 % of assets held 1.07% 0.85% 0.82% 0.74% 0.58% 0.56% 0.55% 0.54% 0.52% 0.49% 0.44% 0.43% 0.42% 0.42% 0.39% 0.38% 0.37% 0.37% 0.37% 0.36% 0.36% 0.34% 0.34% 0.33% 0.33% 0.27% 0.27% 0.26% 0.23% 0.23% 0.22% 0.21% 0.19% 0.19% 0.19% 0.19% 0.18% 0.18% 0.17% 0.09% 0.09% 0.09% 0.09% 0.09% 0.09% 0.08% 41.29% 56.00% 2.70% 100.00%
Pension Multi Cap Balanced Fund (as on March 31, 2010) Industry Banking services Security name Bank of Baroda 2011 Yes Bank Limited 2011 Axis Bank Limited 2010 Andhra Bank 2010 ICICI Bank Limited 2010 Bank of India 2011 Union Bank of India 7.05% Canara Bank 2011 HDFC Bank Limited Allahabad Bank 2010 9.5% Axis Bank Limited 2022 Oriental Bank of Commerce 2010 State Bank of India 7% Canara Bank 2011 9.25% IDBI Bank Limited 2014 HDFC Bank Limited 2011 Axis Bank Limited Bank of Baroda 6.99% Union Bank of India 2011 United Bank of India 2010 State Bank of Patiala 2010 Oriental Bank of Commerce 2011 Corporation Bank 2011 Asset type CD CD CD CD CD CD Equity FD Equity CD NCD CD Equity FD NCD CD Equity Equity FD CD CD CD CD Market value (` 000) 32,190 30,032 27,449 19,430 8,731 6,997 6,224 4,996 4,548 3,994 3,961 3,808 2,851 2,776 2,625 2,585 2,219 2,193 2,138 1,966 1,634 998 602 174,947 389,638 (4,901) 559,684 % of assets held 5.75% 5.37% 4.90% 3.47% 1.56% 1.25% 1.11% 0.89% 0.81% 0.71% 0.71% 0.68% 0.51% 0.50% 0.47% 0.46% 0.40% 0.39% 0.38% 0.35% 0.29% 0.18% 0.11% 31.26% 69.62% (0.88%) 100.00%
252

Pension Multi Cap Growth Fund (as on March 31, 2011) Industry Banking services Banking services total Computer software Computer software total Others Net current assets Grand Total Security name 10.25% Corporation Bank 2012 Punjab National Bank 2011 HDFC Bank Limited Bank of Baroda Allahabad Bank ICICI Bank Limited 2011 Bank of Baroda 2011 Axis Bank Limited 2011 Infosys Technologies Limited Tata Consultancy Services Limited Wipro Limited Infotech Enterprises Limited Asset type FD CD Equity Equity Equity CD CD CD Equity Equity Equity Equity Market value (` 000) 248,185 510,085 491,983 350,108 331,540 190,853 64,990 27,277 2,215,021 677,432 361,457 158,466 107,477 1,304,832 5,758,323 110,610 9,388,786 % of assets held 2.64% 5.43% 5.24% 3.73% 3.53% 2.03% 0.69% 0.29% 23.59% 7.22% 3.85% 1.69% 1.14% 13.90% 61.33% 1.18% 100.00%
Pension Multi Cap Growth Fund (as on March 31, 2010) Industry Banking services Security name State Bank of Bikaner & Jaipur 2010 HDFC Bank Limited Bank of Baroda State Bank of India Punjab National Bank Reliance Industries Limited Bharat Petroleum Corporation Limited Hindustan Petroleum Corporation Limited Asset type CD Equity Equity Equity Equity Equity Equity Equity Market value (` 000) 246,188 201,434 181,208 171,306 145,261 945,397 309,154 98,127 3,281 410,562 2,905,062 (298,953) 3,962,068 % of assets held 6.21% 5.08% 4.57% 4.32% 3.67% 23.86% 7.80% 2.48% 0.08% 10.36% 73.32% (7.55%) 100.00%
Banking services total Refinery
Pension Multiplier Fund (as on March 31, 2011) Industry Banking services Banking services total Computer software Computer software total Others Net current assets Grand Total Security name HDFC Bank Limited Allahabad Bank Kotak Mahindra Bank Limited Bank of Baroda Punjab National Bank Axis Bank Limited Jammu & Kashmir Bank Limited Bank of India Bank of Baroda 2011 United Bank of India Bank of India 2012 Infosys Technologies Limited Tata Consultancy Services Limited HCL Technologies Limited Asset type Equity Equity Equity Equity Equity Equity Equity Equity CD Equity CD Equity Equity Equity Market value (` 000) 838,562 475,330 401,127 361,819 354,750 276,807 233,857 86,989 72,504 70,400 44,687 3,216,832 1,186,439 712,858 411,037 2,310,334 7,491,140 65,635 13,083,941 % of assets held 6.41% 3.63% 3.07% 2.77% 2.71% 2.12% 1.79% 0.66% 0.55% 0.54% 0.34% 24.59% 9.07% 5.45% 3.14% 17.66% 57.25% 0.50% 100.00%
Pension Multiplier Fund (as on March 31, 2010) Industry Banking services Security name HDFC Bank Limited Axis Bank Limited State Bank of Hyderabad 2010 Syndicate Bank 2010 Bank of Baroda 2011 Punjab National Bank Oriental Bank of Commerce State Bank of India Infosys Technologies Limited Tata Consultancy Services Limited Wipro Limited HCL Technologies Limited Asset type Equity Equity CD CD CD Equity Equity Equity Equity Equity Equity Equity Market value (` 000) 800,345 578,958 325,513 298,308 123,026 120,899 76,707 25,121 2,348,877 849,347 396,334 136,774 13,379 1,395,834 7,021,822 31,261 10,797,794 % of assets held 7.41% 5.36% 3.01% 2.76% 1.14% 1.12% 0.71% 0.23% 21.75% 7.87% 3.67% 1.27% 0.12% 12.93% 65.03% 0.29% 100.00%
253
financial Report
Pension Opportunities Fund (as on March 31, 2011) Industry Banking services Banking services total Others Net current assets Grand Total Security name HDFC Bank Limited State Bank of India Axis Bank Limited 2011 Axis Bank Limited Bank of India 2012 Bank of Baroda Kotak Mahindra Bank Limited Punjab National Bank Asset type Equity Equity CD Equity CD Equity Equity Equity Market value (` 000) 282,513 129,745 119,590 82,897 67,669 49,269 6,868 153 738,704 3,382,494 97,131 4,218,329 % of assets held 6.70% 3.08% 2.84% 1.97% 1.60% 1.17% 0.16% 0.00% 17.51% 80.19% 2.30% 100.00%
Pension Opportunities Fund (as on March 31, 2010) Industry Banking services HDFC Bank Limited Bank of Baroda State Bank of India Punjab National Bank Security name Asset type Equity Equity Equity Equity Market value (` 000) 82,734 80,893 76,455 65,141 305,223 1,420,852 31,000 1,757,075 % of assets held 4.71% 4.60% 4.35% 3.71% 17.37% 80.86% 1.76% 100.00%
Pension Preserver Fund (as on March 31, 2011) Industry Banking services Banking services total Others Net current assets Grand Total Security name 10.25% Bank of Baroda 2012 Uco Bank 2011 9.85% State Bank of India 2013 Corporation Bank 2012 Oriental Bank of Commerce 2012 Punjab National Bank 2012 ICICI Bank Limited 2011 Bank of India 2011 10.35% Canara Bank 2012 State Bank of Hyderabad 2011 Punjab National Bank 2011 Oriental Bank of Commerce 2011 Union Bank of India 2011 9.70% Canara Bank 2011 IDBI Bank Limited 2012 State Bank of Mysore 2011 8.23% Canara Bank 2011 State Bank of Travancore 2011 Axis Bank Limited 2012 10.02% Union Bank of India 2013 10.30% Axis Bank Limited 2013 9.87% Axis Bank Limited 2012 9.95% Axis Bank Limited 2012 Corporation Bank 2011 10.30% Canara Bank 2013 8.10% State Bank of Patiala 2011 Central Bank of India 2011 State Bank of Hyderabad 2012 ICICI Bank Limited 2012 Asset type FD CD FD CD CD CD CD CD FD CD CD CD CD FD CD CD FD CD CD FD FD FD FD CD FD FD CD CD CD Market value (` 000) 251,607 233,755 223,081 204,272 185,189 143,563 134,567 134,396 123,277 120,506 119,961 117,298 117,009 116,344 113,269 71,534 60,000 59,341 36,244 34,807 34,439 34,166 33,850 33,215 28,000 20,000 16,702 15,403 7,778 2,823,573 1,148,587 41,569 4,013,729 % of assets held 6.27% 5.82% 5.56% 5.09% 4.61% 3.58% 3.35% 3.35% 3.07% 3.00% 2.99% 2.92% 2.92% 2.90% 2.82% 1.78% 1.49% 1.48% 0.90% 0.87% 0.86% 0.85% 0.84% 0.83% 0.70% 0.50% 0.42% 0.38% 0.19% 70.35% 28.62% 1.04% 100.00%
Pension Preserver Fund (as on March 31, 2010) Industry Banking services Security name Oriental Bank of Commerce 2010 State Bank of Patiala 2010 State Bank of Travancore 2010 Union Bank of India 2010 Axis Bank Limited 2010 Bank of Baroda 2011 7% Canara Bank 2011 Corporation Bank 2011 ICICI Bank Limited 2010 7.05% Canara Bank 2011 Corporation Bank 2010 Bank of Baroda 2010 7.25% State Bank of Indore 2010 Axis Bank Limited 2011 Asset type CD CD CD CD CD CD FD CD CD FD CD CD FD CD Market value (` 000) 210,130 196,788 195,207 160,227 140,777 135,019 122,600 121,138 111,492 88,259 88,010 82,011 81,400 76,264 % of assets held 8.31% 7.78% 7.72% 6.34% 5.57% 5.34% 4.85% 4.79% 4.41% 3.49% 3.48% 3.24% 3.22% 3.02%
254

Pension Preserver Fund (as on March 31, 2010) Industry Security name Punjab National Bank 2010 State Bank of Bikaner & Jaipur 2010 6.99% Union Bank of India 2011 IDBI Bank Limited 2010 8% State Bank of Patiala 2010 Bank of India 2011 9.5% Oriental Bank of Commerce 2013 Banking services total Others Net current assets Grand Total Asset type CD CD FD CD FD CD FD Market value (` 000) 48,796 47,102 40,000 30,753 27,000 23,125 360 2,026,458 451,456 50,143 2,528,057 % of assets held 1.93% 1.86% 1.58% 1.22% 1.07% 0.91% 0.01% 80.16% 17.86% 1.98% 100.00%
Pension Protector Fund (as on March 31, 2011) Industry Banking services Banking services total Others Net current assets Grand Total Security name 9.85% State Bank of India 2013 Corporation Bank 2012 Bank of India 2011 Oriental Bank of Commerce 2011 10.35% Canara Bank 2012 9.70% Canara Bank 2011 Punjab National Bank 2012 9.85% Bank of India 2011 Bank of Baroda 2011 Central Bank of India 2011 State Bank of Hyderabad 2011 Corporation Bank 2011 Bank of India 2012 ICICI Bank Limited 2011 9.95% State Bank of India 2021 Indian Bank 2011 9.80% Bank of India 2011 9.70% Canara Bank 2012 9.58% Bank of India 2011 State Bank of Patiala 2012 10.30% Canara Bank 2013 Syndicate Bank 2011 8.10% State Bank of Patiala 2011 8.25% Canara Bank 2011 10.30% Axis Bank Limited 2013 10.02% Union Bank of India 2013 9.87% Axis Bank Limited 2012 9.95% Axis Bank Limited 2012 9.78% State Bank of Patiala 2011 IDBI Bank Limited 2011 State Bank of Bikaner & Jaipur 2011 7.50% IDBI Bank Limited 2012 9.80% Bank of India 2012 8.95% Axis Bank Limited 2012 9.45% Punjab National Bank 2011 9.55% Oriental Bank of Commerce 2011 9.02% Punjab National Bank 2011 Union Bank of India 2011 9.00% State Bank of India 2011 State Bank of India 2011 State Bank of Travancore 2011 State Bank of India 2012 State Bank of Patiala 2011 State Bank of Hyderabad 2012 Bank of Baroda 2012 10.31% Union Bank of India 2012 9.20% Canara Bank 2015 State Bank of Mysore 2011 Andhra Bank 2011 Uco Bank 2011 8.98% State Bank of Patiala 2011 Federal Bank Limited 2011 Indian Overseas Bank 2011 Axis Bank Limited 2012 Oriental Bank of Commerce 2012 Canara Bank 2011 ICICI Bank Limited 2012 IDBI Bank Limited 2012 State Bank of Bikaner & Jaipur 2012 8.47% IDBI Bank Limited 2011 10.84% HDFC Bank Limited 2017 Asset type FD CD CD CD FD FD CD FD CD CD CD CD CD CD NCD CD FD FD FD CD FD CD FD FD FD FD FD FD FD CD CD NCD FD NCD FD FD FD CD FD CD CD CD CD CD CD FD FD CD CD CD FD CD CD CD CD CD CD CD CD NCD NCD Market value (` 000) 1,080,196 770,955 673,697 661,775 530,077 451,587 409,915 393,736 311,678 293,648 279,800 276,703 270,952 261,085 250,407 239,959 194,701 193,782 193,482 192,687 187,523 181,588 181,429 180,614 170,732 170,169 165,758 165,474 145,356 143,575 135,128 116,076 111,542 99,221 96,738 96,738 96,701 96,427 96,339 94,731 90,540 89,866 84,456 77,344 75,548 69,611 59,500 58,501 57,332 49,650 48,242 47,099 45,375 44,991 43,875 43,286 38,767 31,755 30,049 18,590 3,166 11,770,224 7,829,802 441,435 20,041,461 % of assets held 5.39% 3.85% 3.36% 3.30% 2.64% 2.25% 2.05% 1.96% 1.56% 1.47% 1.40% 1.38% 1.35% 1.30% 1.25% 1.20% 0.97% 0.97% 0.97% 0.96% 0.94% 0.91% 0.91% 0.90% 0.85% 0.85% 0.83% 0.83% 0.73% 0.72% 0.67% 0.58% 0.56% 0.50% 0.48% 0.48% 0.48% 0.48% 0.48% 0.47% 0.45% 0.45% 0.42% 0.39% 0.38% 0.35% 0.30% 0.29% 0.29% 0.25% 0.24% 0.24% 0.23% 0.22% 0.22% 0.22% 0.19% 0.16% 0.15% 0.09% 0.02% 58.73% 39.07% 2.20% 100.00%
255
financial Report
Pension Protector Fund (as on March 31, 2010) Industry Banking services Security name ICICI Bank Limited 2010 Bank of India 2011 7.05% Canara Bank 2011 Oriental Bank of Commerce 2010 7% Canara Bank 2011 Axis Bank Limited 2010 9.25% IDBI Bank Limited 2014 Union Bank of India 2010 HDFC Bank Limited 2011 Allahabad Bank 2010 State Bank of Patiala 2010 Bank of Baroda 2011 Axis Bank Limited 2011 7.25% State Bank of Indore 2010 6.99% Union Bank of India 2011 Oriental Bank of Commerce 2011 7.5% IDBI Bank Limited 2012 8.95% Axis Bank Limited 2012 United Bank of India 2010 Yes Bank Limited 2011 Corporation Bank 2011 Central Bank of India 2010 Corporation Bank 2010 9.5% Axis Bank Limited 2022 8.47% IDBI Bank Limited 2013 8% State Bank of Patiala 2010 9.8% ICICI Bank Limited 2013 9.5% State Bank of India 2013 9.5% Oriental Bank of Commerce 2013 9.5% IDBI Bank Limited 2013 7.9% Rural Electrification Corporation Limited 2012 7.15% Rural Electrification Corporation Limited 2012 6.55% National Housing Bank 2012 11.4% Power Finance Corporation Limited 2013 10% Infrastructure Development Finance Company Limited 2013 8.6% Infrastructure Development Finance Company Limited 2011 10.9% Rural Electrification Corporation Limited 2013 8.46% Indian Railway Finance Corporation Limited 2014 NABARD 2010 8.95% Infrastructure Development Finance Company Limited 2013 9.8% Power Finance Corporation Limited 2012 6.42% National Housing Bank 2012 11.1% Power Finance Corporation Limited 2013 9.4% Power Finance Corporation Limited 2013 7.75% Rural Electrification Corporation Limited 2012 8.88% Infrastructure Development Finance Company Limited 2011 Power Finance Corporation Limited 2010 11.5% Rural Electrification Corporation Limited 2013 9.76% Indian Railway Finance Corporation Limited 2012 10.75% Power Finance Corporation Limited 2011 9.2% NABARD 2012 6.9% National Housing Bank 2012 9.45% Rural Electrification Corporation Limited 2013 11.15% Power Finance Corporation Limited 2011 8.4% Indian Railway Finance Corporation Limited 2013 9.05% Infrastructure Development Finance Company Limited 2013 Power Finance Corporation Limited 2019 9.5% Export-Import Bank of India 2013 9% Infrastructure Development Finance Company Limited 2010 9.03% Power Finance Corporation Limited 2013 8.75% Indian Railway Finance Corporation Limited 2013 11.4% Infrastructure Development Finance Company Limited 2013 8.5% Export-Import Bank of India 2011 8.78% Power Finance Corporation Limited 2016 8.94% Power Finance Corporation Limited 2013 9.68% Indian Railway Finance Corporation Limited 2012 8.55% Power Finance Corporation Limited 2011 8.45% Power Finance Corporation Limited 2014 9.05% Infrastructure Development Finance Company Limited 2010 8.5% Power Finance Corporation Limited 2014 8.83% Indian Railway Finance Corporation Limited 2012 9.8% NABARD 2012 7.73% Bharat Petroleum Corporation Limited 2012 11.45% Reliance Industries Limited 2013 7% Indian Oil Corporation Limited 2012 10.1% Reliance Industries Limited 2011 7.35% Hindustan Petroleum Corporation Limited 2012 Asset type CD CD FD CD FD CD NCD CD CD CD CD CD CD FD FD CD NCD NCD CD CD CD CD CD NCD NCD FD NCD FD FD FD NCD NCD NCD NCD NCD NCD NCD NCD CP NCD NCD NCD NCD NCD NCD NCD PTC NCD NCB NCD NCD NCD NCD NCD NCD NCD FRN NCD NCD NCD NCD NCD NCB NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD Market value (` 000) 701,654 455,301 405,962 357,521 333,297 323,686 279,727 242,599 238,871 219,628 202,482 172,865 159,725 143,846 128,621 121,057 118,949 103,024 89,458 86,124 80,466 54,825 37,658 36,617 18,921 18,000 13,482 6,812 140 20 5,151,338 255,879 233,248 224,764 194,707 168,882 164,670 160,562 124,895 117,888 113,200 85,653 83,924 82,614 79,738 74,484 65,058 61,599 58,666 52,272 52,236 51,977 47,974 47,699 46,676 43,905 41,572 40,897 37,195 31,589 30,757 30,484 29,836 26,629 25,135 23,516 17,918 17,048 16,530 8,561 6,394 4,299 2,105 3,083,635 614,846 447,579 253,272 70,543 40,599 1,426,839 3,805,475 365,672 13,832,959 % of assets held 5.07% 3.29% 2.93% 2.58% 2.41% 2.34% 2.02% 1.75% 1.73% 1.59% 1.46% 1.25% 1.15% 1.04% 0.93% 0.88% 0.86% 0.74% 0.65% 0.62% 0.58% 0.40% 0.27% 0.26% 0.14% 0.13% 0.10% 0.05% 0.00% 0.00% 37.24% 1.85% 1.69% 1.62% 1.41% 1.22% 1.19% 1.16% 0.90% 0.85% 0.82% 0.62% 0.61% 0.60% 0.58% 0.54% 0.47% 0.45% 0.42% 0.38% 0.38% 0.38% 0.35% 0.34% 0.34% 0.32% 0.30% 0.30% 0.27% 0.23% 0.22% 0.22% 0.22% 0.19% 0.18% 0.17% 0.13% 0.12% 0.12% 0.06% 0.05% 0.03% 0.02% 22.29% 4.44% 3.24% 1.83% 0.51% 0.29% 10.31% 27.51% 2.64% 100.00%
256

Pension Return Guarantee Fund (as on March 31, 2011) Industry Banking services Banking services total Housing finance services Housing finance services total Securities and stock traders Securities and stock traders total Others Net current assets Grand Total Security name 9.50% State Bank of Patiala 2013 11.35% IDBI Bank Limited 2013 9.50% Canara Bank 2013 9.75% State Bank of Bikaner & Jaipur 2014 9.50% IDBI Bank Limited 2013 9.50% Oriental Bank of Commerce 2013 9.25% IDBI Bank Limited 2014 9.75% State Bank of Bikaner & Jaipur 2016 9.50% State Bank of India 2013 8.25% ICICI Home Finance Company Limited 2014 7.95% Housing Development Finance Corporation Limited 2014 9.80% LIC Housing Finance Limited 2017 9.50% Housing Development Finance Corporation Limited 2014 10.30% Tata Sons Limited 2014 9.90% ICICI Securities Primary Dealership Limited 2014 Asset type FD NCD FD FD FD FD NCD FD FD NCD NCD NCD NCD NCD NCD Market value (` 000) 120,240 80,011 70,670 67,200 66,556 59,547 39,708 39,200 29,808 572,940 110,907 108,574 108,444 38,483 366,408 196,213 95,111 291,324 744,438 121,476 2,096,586 % of assets held 5.74% 3.82% 3.37% 3.21% 3.17% 2.84% 1.89% 1.87% 1.42% 27.33% 5.29% 5.18% 5.17% 1.84% 17.48% 9.36% 4.54% 13.90% 35.51% 5.79% 100.00%
Pension Return Guarantee Fund (as on March 31, 2010) Industry Banking services Security name 11.35% IDBI Bank Limited 2013 10.85% HDFC Bank Limited 2023 9.5% IDBI Bank Limited 2013 9.5% Oriental Bank of Commerce 2013 9.5% Canara Bank 2013 9.25% IDBI Bank Limited 2014 9.5% State Bank of India 2013 10% Infrastructure Development Finance Company Limited 2013 9.81% Indian Railway Finance Corporation Limited 2017 8.6% Power Finance Corporation Limited 2014 8.5% Power Finance Corporation Limited 2014 10.9% Rural Electrification Corporation Limited 2013 9.8% LIC Housing Finance Limited 2017 8.25% ICICI Home Finance Company Limited 2014 9.7% Housing Development Finance Corporation Limited 2017 11.15% Housing Development Finance Corporation Limited 2018 11.45% Reliance Industries Limited 2013 10.9% Reliance Gas Transportation Infrastructure Limited 2014 Asset type NCD NCD FD FD FD NCD FD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD Market value (` 000) 84,725 66,914 58,210 57,395 55,849 40,925 22,476 386,494 197,241 32,241 25,201 25,077 12,463 292,223 182,247 113,935 81,804 23,400 401,386 206,985 172,540 379,525 585,967 94,980 2,140,575 % of assets held 3.96% 3.13% 2.72% 2.68% 2.61% 1.91% 1.05% 18.06% 9.21% 1.51% 1.18% 1.17% 0.58% 13.65% 8.51% 5.32% 3.82% 1.09% 18.75% 9.67% 8.06% 17.73% 27.37% 4.44% 100.00%
Housing finance services total Refinery Refinery total Others Net current assets Grand Total
Pension Return Guarantee Fund II (as on March 31, 2011) Industry Banking services Banking services total Housing finance services Housing finance services total Others Net current assets Grand Total Security name 9.50% State Bank of Patiala 2013 9.75% State Bank of Bikaner & Jaipur 2014 11.35% IDBI Bank Limited 2013 9.40% Canara Bank 2013 9.20% Canara Bank 2015 9.50% State Bank of India 2013 9.25% IDBI Bank Limited 2014 9.50% Canara Bank 2013 10.25% ICICI Home Finance Company Limited 2014 9.90% Housing Development Finance Corporation Limited 2014 10.25% Housing Development Finance Corporation Limited 2017 7.95% Housing Development Finance Corporation Limited 2014 Asset type FD FD NCD FD FD FD NCD FD NCD NCD NCD NCD Market value (` 000) 146,144 143,300 116,905 89,583 60,918 58,949 53,159 27,103 696,061 171,171 121,607 40,352 15,223 348,353 790,519 61,619 1,896,552 % of assets held 7.71% 7.56% 6.16% 4.72% 3.21% 3.11% 2.80% 1.43% 36.70% 9.03% 6.41% 2.13% 0.80% 18.37% 41.68% 3.25% 100.00%
257
financial Report
Pension Return Guarantee Fund II (as on March 31, 2010) Industry Banking services Security name 10.85% HDFC Bank Limited 2023 11.35% IDBI Bank Limited 2013 9.25% IDBI Bank Limited 2014 9.5% State Bank of India 2013 9.5% Canara Bank 2013 9.85% HDFC Bank Limited 2024 9.5% Oriental Bank of Commerce 2013 11.4% Infrastructure Development Finance Company Limited 2013 9.81% Indian Railway Finance Corporation Limited 2017 8.5% Power Finance Corporation Limited 2014 8.6% Power Finance Corporation Limited 2014 9.03% Power Finance Corporation Limited 2013 10.25% ICICI Home Finance Company Limited 2014 10.25% Housing Development Finance Corporation Limited 2017 9.8% LIC Housing Finance Limited 2017 10.35% Housing Development Finance Corporation Limited 2017 9.7% Housing Development Finance Corporation Limited 2017 11.45% Reliance Industries Limited 2013 10.9% Reliance Gas Transportation Infrastructure Limited 2014 Asset type NCD NCD NCD FD FD NCD FD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD Market value (` 000) 132,337 123,793 54,788 46,079 27,103 15,397 355 399,852 139,016 60,105 50,153 20,161 2,182 271,617 177,204 78,861 42,037 32,822 8,008 338,932 173,476 53,608 227,084 634,840 60,150 1,932,475 % of assets held 6.85% 6.41% 2.84% 2.38% 1.40% 0.80% 0.02% 20.69% 7.19% 3.11% 2.60% 1.04% 0.11% 14.06% 9.17% 4.08% 2.18% 1.70% 0.41% 17.54% 8.98% 2.77% 11.75% 32.85% 3.11% 100.00%
Pension Return Guarantee Fund III (as on March 31, 2011) Industry Banking services Banking services total Housing finance services Housing finance services total Others Net current assets Grand Total Security name 9.50% State Bank of Patiala 2013 9.40% Canara Bank 2013 10.85% HDFC Bank Limited 2018 9.50% State Bank of India 2013 9.25% IDBI Bank Limited 2014 9.50% Oriental Bank of Commerce 2013 11.35% IDBI Bank Limited 2013 9.50% Canara Bank 2013 9.50% IDBI Bank Limited 2013 8.25% ICICI Home Finance Company Limited 2014 8.28% LIC Housing Finance Limited 2015 10.25% Housing Development Finance Corporation Limited 2017 7.95% Housing Development Finance Corporation Limited 2014 9.80% LIC Housing Finance Limited 2017 10.35% Housing Development Finance Corporation Limited 2017 Asset type FD FD NCD FD NCD FD NCD FD FD NCD NCD NCD NCD NCD NCD Market value (` 000) 130,236 67,500 66,670 61,687 61,401 57,416 30,537 26,200 3,511 505,158 151,269 99,553 69,084 45,956 33,482 8,844 408,188 810,845 92,396 1,816,587 % of assets held 7.17% 3.72% 3.67% 3.40% 3.38% 3.16% 1.68% 1.44% 0.19% 27.81% 8.33% 5.48% 3.80% 2.53% 1.84% 0.49% 22.47% 44.64% 5.09% 100.00%
Pension Return Guarantee Fund III (as on March 31, 2010) Industry Banking services Security name 9.25% IDBI Bank Limited 2014 9.5% State Bank of India 2013 10.85% HDFC Bank Limited 2023 9.5% Oriental Bank of Commerce 2013 9.5% Canara Bank 2013 11.35% IDBI Bank Limited 2013 8.25% ICICI Home Finance Company Limited 2014 9.75% LIC Housing Finance Limited 2017 10.25% Housing Development Finance Corporation Limited 2017 9.8% LIC Housing Finance Limited 2017 10.35% Housing Development Finance Corporation Limited 2017 11.45% Reliance Industries Limited 2013 10.9% Reliance Gas Transportation Infrastructure Limited 2014 Asset type NCD FD NCD FD FD NCD NCD NCD NCD NCD NCD NCD NCD Market value (` 000) 93,976 72,963 71,221 44,031 38,600 32,336 353,127 154,729 105,358 56,238 43,764 9,147 369,236 180,561 26,854 207,415 890,196 72,020 1,891,994 % of assets held 4.97% 3.86% 3.76% 2.33% 2.04% 1.71% 18.66% 8.18% 5.57% 2.97% 2.31% 0.48% 19.52% 9.54% 1.42% 10.96% 47.05% 3.81% 100.00%
258

Pension Return Guarantee Fund IV (as on March 31, 2011) Industry Banking services Banking services total Housing finance services Housing finance services total Others Net current assets Grand Total Security name 9.50% State Bank of India 2013 9.25% IDBI Bank Limited 2014 9.50% Oriental Bank of Commerce 2013 9.75% State Bank of Bikaner & Jaipur 2014 9.50% Canara Bank 2013 9.50% IDBI Bank Limited 2013 9.40% Canara Bank 2013 9.50% State Bank of Patiala 2013 11.08% LIC Housing Finance Limited 2018 9.80% LIC Housing Finance Limited 2017 7.95% Housing Development Finance Corporation Limited 2014 Asset type FD NCD FD FD FD FD FD FD NCD NCD NCD Market value (` 000) 60,663 52,790 26,201 19,200 7,418 6,881 6,000 3,875 183,028 39,718 18,477 9,379 67,574 359,144 43,239 652,985 % of assets held 9.29% 8.08% 4.01% 2.94% 1.14% 1.05% 0.92% 0.59% 28.03% 6.08% 2.83% 1.44% 10.35% 55.00% 6.62% 100.00%
Pension Return Guarantee Fund IV (as on March 31, 2010) Industry Banking services Security name 9.5% State Bank of India 2013 9.25% IDBI Bank Limited 2014 9.5% Oriental Bank of Commerce 2013 9.5% Canara Bank 2013 9.5% IDBI Bank Limited 2013 9.85% HDFC Bank Limited 2024 11.3% ACC Limited 2013 8.8% Grasim Industries Limited 2015 9.81% Indian Railway Finance Corporation Limited 2017 9.28% Power Finance Corporation Limited 2017 8.25% ICICI Home Finance Company Limited 2014 11.08% LIC Housing Finance Limited 2018 Asset type FD NCD FD FD FD NCD NCD NCD NCD NCB NCD NCD Market value (` 000) 66,325 54,408 26,251 8,343 6,899 95 162,321 48,002 40,259 88,261 37,152 36,982 74,134 52,494 41,358 93,852 228,963 33,342 680,873 % of assets held 9.74% 7.99% 3.86% 1.23% 1.01% 0.01% 23.84% 7.05% 5.91% 12.96% 5.46% 5.43% 10.89% 7.71% 6.07% 13.78% 33.63% 4.90% 100.00%
Banking services total Cement Cement total Financial institutions Financial institutions total Housing finance services Housing finance services total Others Net current assets Grand Total
Pension Return Guarantee Fund V (as on March 31, 2011) Industry Banking services Banking services total Financial institutions Financial institutions total Housing finance services Housing finance services total Others Net current assets Grand Total Security name 9.10% HDFC Bank Limited 2016 9.25% IDBI Bank Limited 2014 9.75% State Bank of Bikaner & Jaipur 2014 11.35% IDBI Bank Limited 2013 8.20% Indian Railway Finance Corporation Limited 2016 8.50% Power Finance Corporation Limited 2014 7.95% Housing Development Finance Corporation Limited 2014 9.35% LIC Housing Finance Limited 2012 10.25% Housing Development Finance Corporation Limited 2017 9.80% LIC Housing Finance Limited 2017 Asset type NCD NCD FD NCD NCD NCD NCD NCD NCD NCD Market value (` 000) 30,828 26,328 9,600 3,642 70,398 31,053 29,231 60,284 18,365 13,133 11,757 2,974 46,229 143,842 10,058 330,811 % of assets held 9.32% 7.96% 2.90% 1.10% 21.28% 9.39% 8.84% 18.22% 5.55% 3.97% 3.55% 0.90% 13.97% 43.48% 3.04% 100.00%
259
financial Report
Pension Return Guarantee Fund V (as on March 31, 2010) Industry Banking services Security name 9.1% HDFC Bank Limited 2016 9.25% IDBI Bank Limited 2014 9.5% Canara Bank 2013 9.5% State Bank of India 2013 11.35% IDBI Bank Limited 2013 9.5% IDBI Bank Limited 2013 8.2% Indian Railway Finance Corporation Limited 2016 8.5% Power Finance Corporation Limited 2014 10% Infrastructure Development Finance Company Limited 2013 9.8% LIC Housing Finance Limited 2017 11.15% Housing Development Finance Corporation Limited 2018 9.5% Housing Development Finance Corporation Limited 2017 8.25% ICICI Home Finance Company Limited 2014 11.45% Reliance Industries Limited 2013 10.9% Reliance Gas Transportation Infrastructure Limited 2014 Asset type NCD NCD FD FD NCD FD NCD NCD NCD NCD NCD NCD NCD NCD NCD Market value (` 000) 32,973 27,135 11,037 8,200 3,856 973 84,174 31,296 30,092 10,197 71,585 30,593 15,779 13,358 12,419 72,149 31,587 8,095 39,682 75,394 13,438 356,422 % of assets held 9.25% 7.61% 3.10% 2.30% 1.08% 0.27% 23.62% 8.78% 8.44% 2.86% 20.08% 8.58% 4.43% 3.75% 3.48% 20.24% 8.86% 2.27% 11.13% 21.15% 3.77% 100.00%
Pension Return Guarantee Fund VI (as on March 31, 2011) Industry Banking services Banking services total Housing finance services Housing finance services total Financial institutions Financial institutions total Others Net current assets Grand Total Security name 9.25% IDBI Bank Limited 2014 10.85% HDFC Bank Limited 2018 9.10% HDFC Bank Limited 2016 9.50% Housing Development Finance Corporation Limited 2014 9.80% LIC Housing Finance Limited 2017 8.20% Indian Railway Finance Corporation Limited 2016 8.50% Power Finance Corporation Limited 2014 10.90% Rural Electrification Corporation Limited 2013 Asset type NCD NCD NCD NCD NCD NCD NCD NCD Market value (` 000) 38,976 37,437 2,830 79,243 38,882 37,201 76,083 37,569 22,898 2,502 62,969 204,990 12,109 435,394 % of assets held 8.95% 8.60% 0.65% 18.20% 8.93% 8.54% 17.47% 8.63% 5.26% 0.57% 14.46% 47.08% 2.78% 100.00%
Pension Return Guarantee Fund VI (as on March 31, 2010) Industry Banking services Security name 9.25% IDBI Bank Limited 2014 10.85% HDFC Bank Limited 2023 9.5% Oriental Bank of Commerce 2013 9.1% HDFC Bank Limited 2016 9.5% State Bank of India 2013 8.2% Indian Railway Finance Corporation Limited 2016 11.4% Infrastructure Development Finance Company Limited 2013 11.5% Rural Electrification Corporation Limited 2013 8.5% Power Finance Corporation Limited 2014 10.9% Rural Electrification Corporation Limited 2013 9.8% LIC Housing Finance Limited 2017 10.25% Housing Development Finance Corporation Limited 2017 8.25% ICICI Home Finance Company Limited 2014 Asset type NCD NCD FD NCD FD NCD NCD NCD NCD NCD NCD NCD NCD Market value (` 000) 40,171 28,933 13,916 4,802 4,524 92,346 38,477 25,028 21,692 10,031 2,650 97,878 38,674 29,079 295 68,048 179,135 18,168 455,575 % of assets held 8.82% 6.35% 3.05% 1.05% 0.99% 20.27% 8.45% 5.49% 4.76% 2.20% 0.58% 21.48% 8.49% 6.38% 0.06% 14.94% 39.32% 3.99% 100.00%
260

Pension Return Guarantee Fund VII (as on March 31, 2011) Industry Housing finance services Housing finance services total Banking services Banking services total Refinery Refinery total Financial institutions Financial institutions total Others Net current assets Grand Total Security name 9.80% LIC Housing Finance Limited 2017 10.25% Housing Development Finance Corporation Limited 2017 10.10% Housing Development Finance Corporation Limited 2017 9.75% LIC Housing Finance Limited 2017 7.95% Housing Development Finance Corporation Limited 2014 10.25% ICICI Home Finance Company Limited 2014 9.25% IDBI Bank Limited 2014 10.10% Axis Bank Limited 2017 9.50% State Bank of India 2013 9.75% State Bank of Bikaner & Jaipur 2014 11.45% Reliance Industries Limited 2013 10.70% Indian Oil Corporation Limited 2016 9.28% Power Finance Corporation Limited 2017 9.07% Rural Electrification Corporation Limited 2018 9.81% Indian Railway Finance Corporation Limited 2017 8.20% Indian Railway Finance Corporation Limited 2016 8.65% Rural Electrification Corporation Limited 2019 Asset type NCD NCD NCD NCD NCD NCD NCD NCD FD FD NCD NCD NCB NCD NCD NCD NCD Market value (` 000) 51,590 41,715 18,638 14,589 8,234 384 135,150 65,707 27,121 15,000 9,500 117,328 67,545 11,628 79,173 52,978 10,956 4,632 3,289 2,867 74,722 301,270 23,523 731,166 % of assets held 7.06% 5.71% 2.55% 2.00% 1.13% 0.05% 18.48% 8.99% 3.71% 2.05% 1.30% 16.05% 9.24% 1.59% 10.83% 7.25% 1.50% 0.63% 0.45% 0.39% 10.22% 41.20% 3.22% 100.00%
Pension Return Guarantee Fund VII (as on March 31, 2010) Industry Banking services Security name 9.25% IDBI Bank Limited 2014 9.85% HDFC Bank Limited 2024 10.1% Axis Bank Limited 2017 9.5% IDBI Bank Limited 2013 9.28% Power Finance Corporation Limited 2017 8.57% Indian Railway Finance Corporation Limited 2016 9.81% Indian Railway Finance Corporation Limited 2017 8.65% Rural Electrification Corporation Limited 2019 8.2% Indian Railway Finance Corporation Limited 2016 10% Infrastructure Development Finance Company Limited 2013 8.25% ICICI Home Finance Company Limited 2014 9.5% Housing Development Finance Corporation Limited 2017 9.8% LIC Housing Finance Limited 2017 10.25% Housing Development Finance Corporation Limited 2017 10.1% Housing Development Finance Corporation Limited 2017 9.75% LIC Housing Finance Limited 2017 10.25% ICICI Home Finance Company Limited 2014 Asset type NCD NCD NCD FD NCB NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD Market value (` 000) 40,607 30,583 27,907 1,300 100,397 54,056 46,103 4,751 2,923 2,047 171 110,051 66,305 31,064 27,295 26,102 19,303 15,804 241 186,114 367,074 22,961 786,597 % of assets held 5.16% 3.89% 3.55% 0.17% 12.76% 6.87% 5.86% 0.60% 0.37% 0.26% 0.02% 13.99% 8.43% 3.95% 3.47% 3.32% 2.45% 2.01% 0.03% 23.66% 46.67% 2.92% 100.00%
Pension Return Guarantee Fund VIII (as on March 31, 2011) Industry Banking services Banking services total Housing finance services Housing finance services total Others Net current assets Grand Total Security name 9.75% State Bank of Bikaner & Jaipur 2021 9.50% Canara Bank 2020 8.95% Housing Development Finance Corporation Limited 2020 9.60% LIC Housing Finance Limited 2021 Asset type FD FD NCD NCD Market value (` 000) 12,800 12,650 25,450 11,411 10,016 21,427 87,070 2,744 136,691 % of assets held 9.36% 9.25% 18.62% 8.35% 7.33% 15.68% 63.70% 2.01% 100.00%
261
financial Report
Pension Return Guarantee Fund IX (10 Yrs) (as on March 31, 2011) Industry Housing finance services Housing finance services total Banking services Banking services total Others Net current assets Grand Total Security name 9.60% LIC Housing Finance Limited 2021 8.95% Housing Development Finance Corporation Limited 2020 9.75% State Bank of Bikaner & Jaipur 2021 9.50% Canara Bank 2021 Asset type NCD NCD FD FD Market value (` 000) 4,207 4,195 8,402 4,200 3,625 7,825 27,565 899 44,691 % of assets held 9.41% 9.39% 18.80% 9.40% 8.11% 17.51% 61.68% 2.01% 100.00%
Pension Return Guarantee Fund X (10 Yrs) (as on March 31, 2011) Industry Banking services Banking services total Housing finance services Housing finance services total Others Net current assets Grand Total Security name 9.75% State Bank of Bikaner & Jaipur 2021 9.50% Canara Bank 2021 State Bank of Travancore 2011 8.95% Housing Development Finance Corporation Limited 2020 9.60% LIC Housing Finance Limited 2021 Asset type FD FD CD NCD NCD Market value (` 000) 8,500 8,450 3,758 20,708 7,256 6,811 14,067 56,826 11,246 102,847 % of assets held 8.26% 8.22% 3.65% 20.13% 7.06% 6.62% 13.68% 55.25% 10.93% 100.00%
Pension RICH Fund (as on March 31, 2011) Industry Banking services Banking services total Computer software Computer software total Others Net current assets Grand Total Security name HDFC Bank Limited State Bank of India Union Bank of India 2011 Bank of Baroda Axis Bank Limited Axis Bank Limited 2011 Oriental Bank of Commerce ICICI Bank Limited 2011 Jammu & Kashmir Bank Limited 10.35% Union Bank of India 2012 Punjab National Bank 9.50% Canara Bank 2019 Bank of India 2012 Bank of Baroda 2011 Corporation Bank 2011 State Bank of India 2011 Kotak Mahindra Bank Limited 8.23% Canara Bank 2011 Punjab National Bank 2011 Infosys Technologies Limited Tata Consultancy Services Limited Infotech Enterprises Limited Onmobile Global Limited Mphasis Limited Wipro Limited Asset type Equity Equity CD Equity Equity CD Equity CD Equity FD Equity FD CD CD CD CD Equity FD CD Equity Equity Equity Equity Equity Equity Market value (` 000) 3,083,385 1,569,203 591,327 547,552 530,516 487,965 368,400 334,261 200,525 200,000 154,582 107,000 95,194 68,728 68,590 64,249 64,148 62,000 19,632 8,617,257 3,425,707 1,828,889 84,146 74,400 65,402 30,573 5,509,117 34,594,736 675,939 49,397,049 % of assets held 6.24% 3.18% 1.20% 1.11% 1.07% 0.99% 0.75% 0.68% 0.41% 0.40% 0.31% 0.22% 0.19% 0.14% 0.14% 0.13% 0.13% 0.13% 0.04% 17.44% 6.94% 3.70% 0.17% 0.15% 0.13% 0.06% 11.15% 70.03% 1.37% 100.00%
Pension RICH Fund (as on March 31, 2010) Industry Banking services HDFC Bank Limited Axis Bank Limited ICICI Bank Limited 2010 State Bank of India Punjab National Bank ICICI Bank Limited 2011 Bank of Baroda Oriental Bank of Commerce Punjab National Bank 2010 Union Bank of India 2010 State Bank of Patiala 2010 Security name Asset type Equity Equity CD Equity Equity CD Equity Equity CD CD CD Market value (` 000) 2,706,900 1,427,603 957,574 544,264 471,339 470,510 337,418 303,915 288,512 205,973 116,162 7,830,170 28,317,235 (573,926) 35,573,479 % of assets held 7.61% 4.01% 2.69% 1.53% 1.32% 1.32% 0.95% 0.85% 0.81% 0.58% 0.33% 22.01% 79.60% (1.61%) 100.00%
262

Pinnacle Fund (as on March 31, 2011) Industry Banking services Banking services total Computer software Computer software total Others Net current assets Grand Total Security name HDFC Bank Limited State Bank of India Axis Bank Limited Punjab National Bank Kotak Mahindra Bank Limited Infosys Technologies Limited Tata Consultancy Services Limited Wipro Limited HCL Technologies Limited Asset type Equity Equity Equity Equity Equity Equity Equity Equity Equity Market value (` 000) 334,786 286,565 144,024 66,380 42,642 874,397 395,847 151,005 61,343 28,935 637,130 4,752,472 73,126 6,337,125 % of assets held 5.28% 4.52% 2.27% 1.05% 0.67% 13.80% 6.25% 2.38% 0.97% 0.46% 10.05% 74.99% 1.15% 100.00%
Pinnacle Fund (as on March 31, 2010) Industry Banking services HDFC Bank Limited State Bank of India Axis Bank Limited Punjab National Bank Infosys Technologies Limited Tata Consultancy Services Limited Wipro Limited HCL Technologies Limited Security name Asset type Equity Equity Equity Equity Equity Equity Equity Equity Market value (` 000) 182,408 145,331 78,259 36,572 442,570 207,526 64,639 34,740 12,530 319,435 1,993,206 260,099 3,015,310 % of assets held 6.05% 4.82% 2.60% 1.21% 14.68% 6.88% 2.14% 1.15% 0.42% 10.59% 66.10% 8.63% 100.00%
Pinnacle Fund II (as on March 31, 2011) Industry Banking services Banking services total Computer software Computer software total Others Net current assets Grand Total Security name HDFC Bank Limited State Bank of India Axis Bank Limited Punjab National Bank Kotak Mahindra Bank Limited Infosys Technologies Limited Tata Consultancy Services Limited Wipro Limited HCL Technologies Limited Asset type Equity Equity Equity Equity Equity Equity Equity Equity Equity Market value (` 000) 112,739 94,618 47,473 22,133 16,064 293,027 142,384 52,763 22,037 9,997 227,181 1,449,701 (6,484) 1,963,425 % of assets held 5.74% 4.82% 2.42% 1.13% 0.82% 14.92% 7.25% 2.69% 1.12% 0.51% 11.57% 73.84% (0.33%) 100.00%
Preserver Fund (as on March 31, 2011) Industry Banking services Security name 10.25% Bank of Baroda 2012 9.85% State Bank of India 2013 Axis Bank Limited 2011 Uco Bank 2011 Corporation Bank 2012 Oriental Bank of Commerce 2012 Punjab National Bank 2012 9.70% Canara Bank 2011 Bank of India 2011 Oriental Bank of Commerce 2011 State Bank of Hyderabad 2011 Punjab National Bank 2011 Union Bank of India 2011 10.35% Canara Bank 2012 IDBI Bank Limited 2012 8.23% Canara Bank 2011 State Bank of Travancore 2011 Corporation Bank 2011 9.87% Axis Bank Limited 2012 9.95% Axis Bank Limited 2012 Asset type FD FD CD CD CD CD CD FD CD CD CD CD CD FD CD FD CD CD FD FD Market value (` 000) 221,899 221,585 221,149 207,245 200,682 182,813 154,720 121,050 115,442 114,974 106,982 105,988 103,467 101,070 98,012 69,060 53,090 49,373 34,162 33,536 % of assets held 6.23% 6.22% 6.21% 5.82% 5.63% 5.13% 4.34% 3.40% 3.24% 3.23% 3.00% 2.98% 2.90% 2.84% 2.75% 1.94% 1.49% 1.39% 0.96% 0.94%
263
financial Report
Preserver Fund (as on March 31, 2011) Industry Banking services total Others Net current assets Grand Total Security name 10.02% Union Bank of India 2013 10.30% Axis Bank Limited 2013 State Bank of Mysore 2011 Central Bank of India 2011 State Bank of Hyderabad 2012 ICICI Bank Limited 2012 Asset type FD FD CD CD CD CD Market value (` 000) 31,275 30,429 23,311 14,833 13,608 6,729 2,636,484 863,744 61,570 3,561,798 % of assets held 0.88% 0.85% 0.65% 0.42% 0.38% 0.19% 74.02% 24.25% 1.73% 100.00%
Preserver Fund (as on March 31, 2010) Industry Banking services Security name State Bank of Patiala 2010 Oriental Bank of Commerce 2010 Axis Bank Limited 2010 7.25% State Bank of Indore 2010 ICICI Bank Limited 2010 State Bank of Travancore 2010 Bank of Baroda 2011 Corporation Bank 2011 Union Bank of India 2010 Andhra Bank 2010 Bank of Baroda 2010 7.05% Canara Bank 2011 Corporation Bank 2010 6.99% Union Bank of India 2011 State Bank of Bikaner & Jaipur 2010 IDBI Bank Limited 2010 Axis Bank Limited 2011 Punjab National Bank 2010 8% State Bank of Patiala 2010 7% Canara Bank 2011 Bank of India 2011 Asset type CD CD CD FD CD CD CD CD CD CD CD FD CD FD CD CD CD CD FD FD CD Market value (` 000) 271,245 248,754 235,846 214,532 208,899 192,331 186,233 157,205 155,009 145,722 127,682 107,150 101,665 70,000 64,089 58,112 57,198 47,839 42,750 33,923 2,626 2,728,810 546,393 77,554 3,352,757 % of assets held 8.09% 7.42% 7.03% 6.40% 6.23% 5.74% 5.55% 4.69% 4.62% 4.35% 3.81% 3.20% 3.03% 2.09% 1.91% 1.73% 1.71% 1.43% 1.28% 1.01% 0.08% 81.39% 16.30% 2.31% 100.00%
Protector Fund (as on March 31, 2011) Industry Banking services Security name 9.85% State Bank of India 2013 Bank of India 2011 9.70% Canara Bank 2011 10.35% Canara Bank 2012 9.85% Bank of India 2011 Punjab National Bank 2012 8.23% Canara Bank 2011 ICICI Bank Limited 2011 State Bank of Hyderabad 2011 Corporation Bank 2011 Bank of India 2012 Central Bank of India 2011 Corporation Bank 2012 9.95% State Bank of India 2021 Union Bank of India 2011 9.70% Canara Bank 2012 9.58% Bank of India 2011 8.25% Canara Bank 2011 9.80% Bank of India 2011 Syndicate Bank 2011 9.87% Axis Bank Limited 2012 9.95% Axis Bank Limited 2012 10.02% Union Bank of India 2013 10.30% Axis Bank Limited 2013 9.78% State Bank of Patiala 2011 Bank of Baroda 2011 State Bank of Bikaner & Jaipur 2011 Oriental Bank of Commerce 2011 9.80% Bank of India 2012 9.02% Punjab National Bank 2011 9.00% State Bank of India 2011 9.45% Punjab National Bank 2011 9.55% Oriental Bank of Commerce 2011 8.10% State Bank of Patiala 2011 Asset type FD CD FD FD FD CD FD CD CD CD CD CD CD NCD CD FD FD FD FD CD FD FD FD FD FD CD CD CD FD FD FD FD FD FD Market value (` 000) 908,083 464,478 388,798 352,820 329,556 287,127 274,359 260,408 234,919 227,904 226,810 224,580 215,734 194,594 174,826 166,774 166,421 166,362 165,400 155,775 138,838 137,685 137,066 135,298 123,941 118,804 114,692 108,280 94,726 84,660 84,340 83,321 83,321 81,895 % of assets held 5.85% 2.99% 2.51% 2.27% 2.12% 1.85% 1.77% 1.68% 1.51% 1.47% 1.46% 1.45% 1.39% 1.25% 1.13% 1.07% 1.07% 1.07% 1.07% 1.00% 0.89% 0.89% 0.88% 0.87% 0.80% 0.77% 0.74% 0.70% 0.61% 0.55% 0.54% 0.54% 0.54% 0.53%
264

Protector Fund (as on March 31, 2011) Industry Banking services total Housing finance services Housing finance services total Others Net current assets Grand Total Security name Bank of Baroda 2012 State Bank of India 2011 State Bank of Travancore 2011 State Bank of Patiala 2011 State Bank of India 2012 State Bank of Mysore 2011 Andhra Bank 2011 State Bank of Hyderabad 2012 10.31% Union Bank of India 2012 8.98% State Bank of Patiala 2011 Canara Bank 2011 Federal Bank Limited 2011 Indian Bank 2011 Indian Overseas Bank 2011 Axis Bank Limited 2012 8.47% IDBI Bank Limited 2011 ICICI Bank Limited 2012 State Bank of Bikaner & Jaipur 2012 10.30% IDBI Bank Limited 2012 7.45% LIC Housing Finance Limited 2012 Housing Development Finance Corporation Limited 2012 9.90% Housing Development Finance Corporation Limited 2014 Housing Development Finance Corporation Limited 2011 9.50% Housing Development Finance Corporation Limited 2013 9.45% Housing Development Finance Corporation Limited 2013 9.70% Housing Development Finance Corporation Limited 2016 8.48% LIC Housing Finance Limited 2013 Housing Development Finance Corporation Limited 2016 8.40% LIC Housing Finance Limited 2013 9.85% LIC Housing Finance Limited 2014 9.35% LIC Housing Finance Limited 2012 9.75% Housing Development Finance Corporation Limited 2016 0.00% Housing Development Finance Corporation Limited 2012 7.38% LIC Housing Finance Limited 2011 7.64% LIC Housing Finance Limited 2012 9.90% Housing Development Finance Corporation Limited 2011 LIC Housing Finance Limited 2011 10.00% ICICI Home Finance Company Limited 2013 9.20% Housing Development Finance Corporation Limited 2012 9.75% Housing Development Finance Corporation Limited 2014 9.45% LIC Housing Finance Limited 2012 7.99% LIC Housing Finance Limited 2013 6.85% LIC Housing Finance Limited 2011 7.35% Housing Development Finance Corporation Limited 2012 9.50% Housing Development Finance Corporation Limited 2014 NCD CP NCD CP NCD NCD NCD NCD FRN NCD NCD NCD NCD ZCB NCD NCD NCD CP NCD NCD NCD NCD NCD NCD NCD NCD Asset type CD CD CD CD CD CD CD CD FD FD CD CD CD CD CD NCD CD CD NCD Market value (` 000) 80,920 79,274 77,689 77,671 69,772 67,360 66,014 60,491 55,621 42,230 41,521 39,224 39,078 38,925 37,468 32,512 30,172 24,028 188 8,072,753 244,521 129,588 97,838 90,782 89,650 80,818 80,356 79,788 79,605 79,202 77,427 75,084 69,117 50,896 45,086 44,656 42,049 41,510 34,800 34,003 31,783 28,032 23,079 17,931 8,609 1,375 1,677,585 5,425,227 341,068 15,516,633 % of assets held 0.52% 0.51% 0.50% 0.50% 0.45% 0.43% 0.43% 0.39% 0.36% 0.27% 0.27% 0.25% 0.25% 0.25% 0.24% 0.21% 0.19% 0.15% 0.00% 52.03% 1.58% 0.84% 0.63% 0.59% 0.58% 0.52% 0.52% 0.51% 0.51% 0.51% 0.50% 0.48% 0.45% 0.33% 0.29% 0.29% 0.27% 0.27% 0.22% 0.22% 0.20% 0.18% 0.15% 0.12% 0.06% 0.01% 10.81% 34.96% 2.20% 100.00%
Protector Fund (as on March 31, 2010) Industry Banking services Security name Oriental Bank of Commerce 2010 ICICI Bank Limited 2010 Bank of India 2011 9.25% IDBI Bank Limited 2014 7% Canara Bank 2011 HDFC Bank Limited 2011 Union Bank of India 2010 Axis Bank Limited 2010 State Bank of Hyderabad 2010 7.25% State Bank of Indore 2010 6.99% Union Bank of India 2011 Oriental Bank of Commerce 2011 Corporation Bank 2011 Bank of Baroda 2011 Corporation Bank 2010 9.8% ICICI Bank Limited 2013 8.47% IDBI Bank Limited 2013 United Bank of India 2010 Yes Bank Limited 2011 State Bank of Patiala 2010 9.5% IDBI Bank Limited 2013 10.3% IDBI Bank Limited 2012 Bank of Baroda 2010 Asset type CD CD CD NCD FD CD CD CD CD FD FD CD CD CD CD NCD NCD CD CD CD FD NCD CD Market value (` 000) 459,598 446,387 375,064 283,325 272,418 249,320 244,905 243,043 211,248 163,100 135,315 128,470 86,045 57,405 47,916 34,242 33,091 29,707 16,406 16,052 1,443 199 2 3,534,701 % of assets held 3.28% 3.19% 2.68% 2.02% 1.95% 1.78% 1.75% 1.74% 1.51% 1.17% 0.97% 0.92% 0.61% 0.41% 0.34% 0.24% 0.24% 0.21% 0.12% 0.11% 0.01% 0.00% 0.00% 25.26%
265
financial Report
Protector Fund (as on March 31, 2010) Industry Financial institutions Security name 6.55% National Housing Bank 2012 7.9% Rural Electrification Corporation Limited 2012 10.9% Rural Electrification Corporation Limited 2013 7.15% Rural Electrification Corporation Limited 2012 11.4% Power Finance Corporation Limited 2013 8.46% Indian Railway Finance Corporation Limited 2014 11.1% Power Finance Corporation Limited 2013 8.6% Infrastructure Development Finance Company Limited 2011 Power Finance Corporation Limited 2010 9.45% Rural Electrification Corporation Limited 2013 9.8% Power Finance Corporation Limited 2012 9.03% Power Finance Corporation Limited 2013 9.4% Power Finance Corporation Limited 2013 9.76% Indian Railway Finance Corporation Limited 2012 6.42% National Housing Bank 2012 11.5% Rural Electrification Corporation Limited 2013 7.75% Rural Electrification Corporation Limited 2012 9.68% Indian Railway Finance Corporation Limited 2012 8.4% Indian Railway Finance Corporation Limited 2013 8.5% Export-Import Bank of India 2011 6.9% National Housing Bank 2012 10.75% Power Finance Corporation Limited 2011 9.5% Export-Import Bank of India 2013 Power Finance Corporation Limited 2019 8.75% Indian Railway Finance Corporation Limited 2013 9.8% NABARD 2012 8.78% Power Finance Corporation Limited 2016 8.94% Power Finance Corporation Limited 2013 10% Infrastructure Development Finance Company Limited 2013 9% Infrastructure Development Finance Company Limited 2010 11.4% Infrastructure Development Finance Company Limited 2013 8.88% Infrastructure Development Finance Company Limited 2011 8.55% Power Finance Corporation Limited 2011 8.45% Power Finance Corporation Limited 2014 8.83% Indian Railway Finance Corporation Limited 2012 9.05% Infrastructure Development Finance Company Limited 2010 8.95% Infrastructure Development Finance Company Limited 2013 9.81% Indian Railway Finance Corporation Limited 2017 8.5% Power Finance Corporation Limited 2014 7.73% Bharat Petroleum Corporation Limited 2012 11.45% Reliance Industries Limited 2013 7% Indian Oil Corporation Limited 2012 10.1% Reliance Industries Limited 2011 7.35% Hindustan Petroleum Corporation Limited 2012 Asset type NCD NCD NCD NCD NCD NCD NCD NCD PTC NCD NCD NCD NCD NCB NCD NCD NCD NCD NCD NCB NCD NCD NCD FRN NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD Market value (` 000) 378,370 268,047 251,308 244,575 216,270 160,541 138,836 130,966 123,198 117,164 101,794 99,919 90,519 88,201 87,595 85,080 82,157 64,010 62,908 61,334 59,117 59,040 55,766 48,885 41,052 37,885 30,836 30,575 30,335 25,418 22,101 21,681 19,269 18,973 9,803 8,982 7,266 2,189 1,044 3,383,009 815,165 596,968 300,539 50,696 49,223 1,812,591 4,941,151 320,478 13,991,930 % of assets held 2.70% 1.92% 1.80% 1.75% 1.55% 1.15% 0.99% 0.94% 0.88% 0.84% 0.73% 0.71% 0.65% 0.63% 0.63% 0.61% 0.59% 0.46% 0.45% 0.44% 0.42% 0.42% 0.40% 0.35% 0.29% 0.27% 0.22% 0.22% 0.22% 0.18% 0.16% 0.15% 0.14% 0.14% 0.07% 0.06% 0.05% 0.02% 0.01% 24.18% 5.83% 4.27% 2.15% 0.36% 0.35% 12.95% 35.31% 2.29% 100.00%
Return Guarantee Fund (as on March 31, 2011) Industry Banking services Banking services total Housing finance services Security name 9.50% Oriental Bank of Commerce 2013 9.50% Canara Bank 2013 9.25% IDBI Bank Limited 2014 11.35% IDBI Bank Limited 2013 9.50% State Bank of India 2013 9.50% State Bank of Patiala 2013 9.50% IDBI Bank Limited 2013 9.80% LIC Housing Finance Limited 2017 10.00% ICICI Home Finance Company Limited 2013 10.25% ICICI Home Finance Company Limited 2014 8.25% ICICI Home Finance Company Limited 2014 10.30% Tata Sons Limited 2014 9.90% ICICI Securities Primary Dealership Limited 2014 Asset type FD FD NCD NCD FD FD FD NCD NCD NCD NCD NCD NCD Market value (` 000) 46,044 44,477 31,766 20,393 15,300 13,535 1,521 173,036 45,488 36,904 10,116 442 92,950 47,609 25,511 73,120 251,911 40,387 631,404 % of assets held 7.29% 7.04% 5.03% 3.23% 2.42% 2.14% 0.24% 27.40% 7.20% 5.84% 1.60% 0.07% 14.72% 7.54% 4.04% 11.58% 39.90% 6.40% 100.00%
Housing finance services total Securities and stock traders Securities and stock traders total Others Net current assets Grand Total
266

Return Guarantee Fund (as on March 31, 2010) Industry Banking services Security name 9.5% Oriental Bank of Commerce 2013 9.5% Canara Bank 2013 9.25% IDBI Bank Limited 2014 9.5% State Bank of India 2013 11.35% IDBI Bank Limited 2013 9.5% IDBI Bank Limited 2013 9.81% Indian Railway Finance Corporation Limited 2017 10% Infrastructure Development Finance Company Limited 2013 9.28% Power Finance Corporation Limited 2017 10.9% Rural Electrification Corporation Limited 2013 9.8% LIC Housing Finance Limited 2017 10% ICICI Home Finance Company Limited 2013 9.7% Housing Development Finance Corporation Limited 2017 10.25% ICICI Home Finance Company Limited 2014 8.25% ICICI Home Finance Company Limited 2014 10.9% Reliance Gas Transportation Infrastructure Limited 2014 11.45% Reliance Industries Limited 2013 Asset type FD FD NCD FD NCD FD NCD NCD NCB NCD NCD NCD NCD NCD NCD NCD NCD Market value (` 000) 46,026 44,477 32,740 27,100 21,594 1,500 173,437 35,978 30,802 10,111 2,805 79,696 48,343 38,661 19,989 10,472 452 117,917 56,277 51,618 107,895 137,897 31,496 648,338 % of assets held 7.10% 6.86% 5.05% 4.18% 3.33% 0.23% 26.75% 5.55% 4.75% 1.56% 0.43% 12.29% 7.46% 5.96% 3.08% 1.62% 0.07% 18.19% 8.68% 7.96% 16.64% 21.27% 4.86% 100.00%
Return Guarantee Fund II (as on March 31, 2011) Industry Banking services Banking services total Housing finance services Housing finance services total Securities and stock traders Securities and stock traders total Others Net current assets Grand Total Security name 9.50% State Bank of India 2013 9.25% IDBI Bank Limited 2014 9.50% IDBI Bank Limited 2013 9.50% Oriental Bank of Commerce 2013 9.75% State Bank of Bikaner & Jaipur 2014 9.50% State Bank of Patiala 2013 9.50% Canara Bank 2013 10.25% ICICI Home Finance Company Limited 2014 9.80% LIC Housing Finance Limited 2017 10.25% Housing Development Finance Corporation Limited 2017 9.75% LIC Housing Finance Limited 2017 10.35% Housing Development Finance Corporation Limited 2017 10.30% Tata Sons Limited 2014 9.90% ICICI Securities Primary Dealership Limited 2014 Asset type FD NCD FD FD FD FD FD NCD NCD NCD NCD NCD NCD NCD Market value (` 000) 59,464 29,285 23,359 8,423 4,500 3,360 1,334 129,725 58,743 29,670 21,028 9,605 3,402 122,448 56,217 15,107 71,324 302,490 36,699 662,686 % of assets held 8.97% 4.42% 3.52% 1.27% 0.68% 0.51% 0.20% 19.58% 8.86% 4.48% 3.17% 1.45% 0.51% 18.48% 8.48% 2.28% 10.76% 45.65% 5.54% 100.00%
Return Guarantee Fund II (as on March 31, 2010) Industry Banking services Security name 9.50% State Bank of India 2013 9.25% IDBI Bank Limited 2014 11.35% IDBI Bank Limited 2013 9.50% IDBI Bank Limited 2013 9.50% Canara Bank 2013 9.50% Oriental Bank of Commerce 2013 10.25% ICICI Home Finance Company Limited 2014 9.8% LIC Housing Finance Limited 2017 10.25% Housing Development Finance Corporation Limited 2017 9.75% LIC Housing Finance Limited 2017 10.35% Housing Development Finance Corporation Limited 2017 9.7% Housing Development Finance Corporation Limited 2017 10.9% Reliance Gas Transportation Infrastructure Limited 2014 11.45% Reliance Industries Limited 2013 Asset type FD NCD NCD FD FD FD NCD NCD NCD NCD NCD NCD NCD NCD Market value (` 000) 59,639 30,182 21,010 15,585 15,036 8,423 149,875 60,813 31,477 24,651 11,063 3,519 1,861 133,384 66,425 56,133 122,558 248,209 28,814 682,840 % of assets held 8.73% 4.42% 3.08% 2.28% 2.20% 1.23% 21.95% 8.91% 4.61% 3.61% 1.62% 0.52% 0.27% 19.53% 9.73% 8.22% 17.95% 36.35% 4.22% 100.00%
267
financial Report
Return Guarantee Fund III (as on March 31, 2011) Industry Banking services Banking services total Housing finance services Housing finance services total Others Net current assets Grand Total Security name 9.25% IDBI Bank Limited 2014 9.50% State Bank of India 2013 10.85% HDFC Bank Limited 2018 9.40% Canara Bank 2013 9.50% Oriental Bank of Commerce 2013 9.50% Canara Bank 2013 9.50% State Bank of Patiala 2013 11.35% IDBI Bank Limited 2013 8.25% ICICI Home Finance Company Limited 2014 10.25% Housing Development Finance Corporation Limited 2017 9.75% LIC Housing Finance Limited 2017 10.25% ICICI Home Finance Company Limited 2014 10.35% Housing Development Finance Corporation Limited 2017 Asset type NCD FD NCD FD FD FD FD NCD NCD NCD NCD NCD NCD Market value (` 000) 53,735 29,087 21,856 21,500 21,292 20,000 19,531 6,660 193,661 57,307 39,679 32,858 3,267 832 133,943 290,880 36,020 654,504 % of assets held 8.21% 4.44% 3.34% 3.28% 3.25% 3.06% 2.98% 1.02% 29.59% 8.76% 6.06% 5.02% 0.50% 0.13% 20.46% 44.44% 5.50% 100.00%
Return Guarantee Fund III (as on March 31, 2010) Industry Banking services Security name 9.25% IDBI Bank Limited 2014 9.5% State Bank of India 2013 9.85% HDFC Bank Limited 2024 10.85% HDFC Bank Limited 2023 9.5% Oriental Bank of Commerce 2013 11.35% IDBI Bank Limited 2013 9.5% Canara Bank 2013 8.25% ICICI Home Finance Company Limited 2014 9.75% LIC Housing Finance Limited 2017 10.25% Housing Development Finance Corporation Limited 2017 9.8% LIC Housing Finance Limited 2017 10.25% ICICI Home Finance Company Limited 2014 10.35% Housing Development Finance Corporation Limited 2017 Asset type NCD FD NCD NCD FD NCD FD NCD NCD NCD NCD NCD NCD Market value (` 000) 55,381 29,147 28,748 22,813 20,002 7,051 7,000 170,142 58,618 34,241 13,873 13,793 7,257 861 128,643 351,924 27,518 678,227 % of assets held 8.17% 4.30% 4.24% 3.36% 2.95% 1.04% 1.03% 25.09% 8.64% 5.05% 2.05% 2.03% 1.07% 0.13% 18.97% 51.89% 4.06% 100.00%
Return Guarantee Fund IV (as on March 31, 2011) Industry Banking services Banking services total Housing finance services Housing finance services total Securities and stock traders Securities and stock traders total Others Net current assets Grand Total Security name 9.50% Oriental Bank of Commerce 2013 9.25% IDBI Bank Limited 2014 9.50% Canara Bank 2013 9.40% Canara Bank 2013 9.50% State Bank of India 2013 9.50% State Bank of Patiala 2013 9.50% IDBI Bank Limited 2013 10.25% Housing Development Finance Corporation Limited 2017 11.08% LIC Housing Finance Limited 2018 9.80% LIC Housing Finance Limited 2017 10.30% Tata Sons Limited 2014 9.90% ICICI Securities Primary Dealership Limited 2014 Asset type FD NCD FD FD FD FD FD NCD NCD NCD NCD NCD Market value (` 000) 25,134 25,115 19,645 3,314 2,636 1,423 939 78,206 20,950 12,966 7,777 41,693 25,568 9,811 35,379 102,973 18,388 276,639 % of assets held 9.09% 9.08% 7.10% 1.20% 0.95% 0.51% 0.34% 28.27% 7.57% 4.69% 2.81% 15.07% 9.24% 3.55% 12.79% 37.22% 6.65% 100.00%
268

Return Guarantee Fund IV (as on March 31, 2010) Industry Banking services Security name 9.5% Oriental Bank of Commerce 2013 9.25% IDBI Bank Limited 2014 9.5% Canara Bank 2013 9.85% HDFC Bank Limited 2024 9.5% State Bank of India 2013 9.81% Indian Railway Finance Corporation Limited 2017 11.4% Infrastructure Development Finance Company Limited 2013 9.28% Power Finance Corporation Limited 2017 9.5% Housing Development Finance Corporation Limited 2017 8.25% ICICI Home Finance Company Limited 2014 11.08% LIC Housing Finance Limited 2018 9.8% LIC Housing Finance Limited 2017 10.25% Housing Development Finance Corporation Limited 2017 Asset type FD NCD FD NCD FD NCD NCD NCB NCD NCD NCD NCD NCD Market value (` 000) 21,086 15,756 7,265 3,090 2,635 49,832 25,942 21,803 5,204 52,949 21,745 20,644 13,501 10,720 213 66,823 109,041 12,540 291,185 % of assets held 7.24% 5.41% 2.49% 1.06% 0.90% 17.11% 8.91% 7.49% 1.79% 18.18% 7.47% 7.09% 4.64% 3.68% 0.07% 22.95% 37.45% 4.31% 100.00%
Return Guarantee Fund V (as on March 31, 2011) Industry Banking services Banking services total Others Net current assets Grand Total Security name 9.50% State Bank of Patiala 2013 9.25% IDBI Bank Limited 2014 9.10% HDFC Bank Limited 2016 9.75% State Bank of Bikaner & Jaipur 2014 Asset type FD NCD NCD FD Market value (` 000) 10,524 10,319 7,253 5,100 33,196 77,483 3,071 113,750 % of assets held 9.25% 9.07% 6.38% 4.48% 29.18% 68.12% 2.70% 100.00%
Return Guarantee Fund V (as on March 31, 2010) Industry Banking services Security name 9.25% IDBI Bank Limited 2014 9.5% Oriental Bank of Commerce 2013 9.1% HDFC Bank Limited 2016 9.5% Canara Bank 2013 9.85% HDFC Bank Limited 2024 9.5% IDBI Bank Limited 2013 9.5% State Bank of India 2013 8.2% Indian Railway Finance Corporation Limited 2016 11.4% Infrastructure Development Finance Company Limited 2013 10% Infrastructure Development Finance Company Limited 2013 9.8% LIC Housing Finance Limited 2017 9.5% Housing Development Finance Corporation Limited 2017 Asset type NCD FD NCD FD NCD FD FD NCD NCD NCD NCD NCD Market value (` 000) 11,453 7,985 7,384 7,330 485 1 1 34,639 11,968 7,489 4,408 23,865 11,245 4,970 16,215 43,340 5,091 123,150 % of assets held 9.30% 6.48% 6.00% 5.95% 0.39% 0.00% 0.00% 28.13% 9.72% 6.08% 3.58% 19.38% 9.13% 4.04% 13.17% 35.19% 4.13% 100.00%
Financial institutions total Housing finance services Housing finance services total Others Net current assets Grand Total
Return Guarantee Fund VI (as on March 31, 2011) Industry Banking services Banking services total Housing finance services Housing finance services total Financial institutions Financial institutions total Others Net current assets Grand Total Security name 9.25% IDBI Bank Limited 2014 9.20% Canara Bank 2015 9.50% State Bank of Patiala 2013 9.10% HDFC Bank Limited 2016 10.25% Housing Development Finance Corporation Limited 2017 9.80% LIC Housing Finance Limited 2017 8.20% Indian Railway Finance Corporation Limited 2016 10.90% Rural Electrification Corporation Limited 2013 Asset type NCD FD FD NCD NCD NCD NCD NCD Market value (` 000) 10,280 10,000 7,316 1,391 28,987 10,203 8,163 18,366 10,268 2,028 12,296 48,110 3,190 110,949 % of assets held 9.27% 9.01% 6.59% 1.25% 26.13% 9.20% 7.36% 16.55% 9.25% 1.83% 11.08% 43.36% 2.88% 100.00%
269
financial Report
Return Guarantee Fund VI (as on March 31, 2010) Industry Banking services Security name 9.25% IDBI Bank Limited 2014 10.85% HDFC Bank Limited 2023 9.5% Oriental Bank of Commerce 2013 9.1% HDFC Bank Limited 2016 8.2% Indian Railway Finance Corporation Limited 2016 11.4% Infrastructure Development Finance Company Limited 2013 11.5% Rural Electrification Corporation Limited 2013 10.9% Rural Electrification Corporation Limited 2013 9.8% LIC Housing Finance Limited 2017 10.25% Housing Development Finance Corporation Limited 2017 8.25% ICICI Home Finance Company Limited 2014 Asset type NCD NCD FD NCD NCD NCD NCD NCD NCD NCD NCD Market value (` 000) 10,974 8,903 2,190 1,416 23,483 11,039 6,150 4,744 2,145 24,078 10,404 8,751 157 19,312 47,617 4,443 118,933 % of assets held 9.23% 7.49% 1.84% 1.19% 19.74% 9.28% 5.17% 3.99% 1.80% 20.25% 8.75% 7.36% 0.13% 16.24% 40.04% 3.74% 100.00%
Return Guarantee Fund VII (as on March 31, 2011) Industry Banking services Banking services total Housing finance services Housing finance services total Financial institutions Financial institutions total Others Net current assets Grand Total Security name 9.25% IDBI Bank Limited 2014 9.50% State Bank of Patiala 2013 10.10% Axis Bank Limited 2017 9.80% LIC Housing Finance Limited 2017 10.25% Housing Development Finance Corporation Limited 2017 10.10% Housing Development Finance Corporation Limited 2017 9.28% Power Finance Corporation Limited 2017 10.90% Rural Electrification Corporation Limited 2013 8.65% Rural Electrification Corporation Limited 2019 8.20% Indian Railway Finance Corporation Limited 2016 Asset type NCD FD NCD NCD NCD NCD NCB NCD NCD NCD Market value (` 000) 3,807 3,106 604 7,517 3,649 2,089 1,184 6,922 3,853 963 875 732 6,423 20,062 1,122 42,046 % of assets held 9.05% 7.39% 1.44% 17.88% 8.68% 4.97% 2.82% 16.46% 9.16% 2.29% 2.08% 1.74% 15.28% 47.72% 2.67% 100.00%
Return Guarantee Fund VII (as on March 31, 2010) Industry Financial institutions Security name 9.28% Power Finance Corporation Limited 2017 8.57% Indian Railway Finance Corporation Limited 2016 8.65% Rural Electrification Corporation Limited 2019 8.2% Indian Railway Finance Corporation Limited 2016 10.9% Rural Electrification Corporation Limited 2013 10% Infrastructure Development Finance Company Limited 2013 8.25% ICICI Home Finance Company Limited 2014 9.8% LIC Housing Finance Limited 2017 10.25% Housing Development Finance Corporation Limited 2017 10.1% Housing Development Finance Corporation Limited 2017 10.9% Reliance Gas Transportation Infrastructure Limited 2014 11.45% Reliance Industries Limited 2013 Asset type NCB NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD Market value (` 000) 4,342 3,494 892 524 201 24 9,477 4,471 4,004 1,702 1,226 11,403 3,454 2,069 5,523 19,423 1,470 47,296 % of assets held 9.18% 7.39% 1.89% 1.11% 0.42% 0.05% 20.04% 9.45% 8.47% 3.60% 2.59% 24.11% 7.30% 4.37% 11.68% 41.07% 3.11% 100.00%
Return Guarantee Fund VIII (10 Yrs) (as on March 31, 2011) Industry Banking services Banking services total Housing finance services Housing finance services total Others Net current assets Grand Total Security name 9.75% State Bank of Bikaner & Jaipur 2021 9.50% Canara Bank 2020 8.95% Housing Development Finance Corporation Limited 2020 9.60% LIC Housing Finance Limited 2021 Asset type FD FD NCD NCD Market value (` 000) 25,600 25,230 50,830 23,085 20,032 43,117 173,330 5,442 272,719 % of assets held 9.39% 9.25% 18.64% 8.46% 7.35% 15.81% 63.56% 1.99% 100.00%
270

Return Guarantee Fund VIII (5 Yrs) (as on March 31, 2011) Industry Banking services Banking services total Housing finance services Housing finance services total Others Net current assets Grand Total Security name 9.95% State Bank of India 2021 10.10% Axis Bank Limited 2017 9.75% State Bank of Bikaner & Jaipur 2016 10.84% HDFC Bank Limited 2017 9.20% Canara Bank 2015 9.25% IDBI Bank Limited 2014 9.75% LIC Housing Finance Limited 2017 9.90% Housing Development Finance Corporation Limited 2018 9.70% Housing Development Finance Corporation Limited 2017 Asset type NCD NCD FD NCD FD NCD NCD NCD NCD Market value (` 000) 90,218 75,812 67,000 37,188 23,400 23,129 316,747 66,313 40,901 16,176 123,390 500,777 29,987 970,901 % of assets held 9.29% 7.81% 6.90% 3.83% 2.41% 2.38% 32.62% 6.83% 4.21% 1.67% 12.71% 51.58% 3.09% 100.00%
Return Guarantee Fund IX (10 Yrs) (as on March 31, 2011) Industry Housing finance services Housing finance services total Banking services Banking services total Others Net current assets Grand Total Security name 9.60% LIC Housing Finance Limited 2021 8.95% Housing Development Finance Corporation Limited 2020 9.75% State Bank of Bikaner & Jaipur 2021 9.50% Canara Bank 2021 Asset type NCD NCD FD FD Market value (` 000) 12,220 11,876 24,096 12,300 9,000 21,300 83,424 2,676 131,496 % of assets held 9.29% 9.03% 18.33% 9.35% 6.84% 16.20% 63.44% 2.03% 100.00%
Return Guarantee Fund IX (5 Yrs) (as on March 31, 2011) Industry Banking services Banking services total Financial institutions Financial institutions total Housing finance services Housing finance services total Others Net current assets Grand Total Security name 9.95% State Bank of India 2021 10.85% HDFC Bank Limited 2018 9.50% Axis Bank Limited 2017 9.75% State Bank of Bikaner & Jaipur 2016 10.84% HDFC Bank Limited 2017 9.81% Indian Railway Finance Corporation Limited 2017 9.68% Power Finance Corporation Limited 2018 8.45% Power Finance Corporation Limited 2014 9.75% LIC Housing Finance Limited 2017 10.25% Housing Development Finance Corporation Limited 2017 9.90% Housing Development Finance Corporation Limited 2018 8.95% Housing Development Finance Corporation Limited 2020 Asset type NCD NCD NCD FD NCD NCD NCD NCD NCD NCD NCD NCD Market value (` 000) 116,716 111,034 50,039 47,800 6,641 332,230 91,538 51,268 45,076 187,882 113,036 53,923 38,856 5,734 211,549 481,804 40,628 1,254,093 % of assets held 9.31% 8.85% 3.99% 3.81% 0.53% 26.49% 7.30% 4.09% 3.59% 14.98% 9.01% 4.30% 3.10% 0.46% 16.87% 38.42% 3.24% 100.00%
Return Guarantee Fund X (10 Yrs) (as on March 31, 2011) Industry Banking services Banking services total Housing finance services Housing finance services total Others Net current assets Grand Total Security name 9.75% State Bank of Bikaner & Jaipur 2021 9.95% State Bank of India 2021 9.50% Canara Bank 2021 9.50% Canara Bank 2020 8.95% Housing Development Finance Corporation Limited 2020 9.60% LIC Housing Finance Limited 2021 Asset type FD NCD FD FD NCD NCD Market value (` 000) 38,800 34,224 19,425 6,620 99,069 26,015 22,436 48,451 265,920 28,224 441,664 % of assets held 8.78% 7.75% 4.40% 1.50% 22.43% 5.89% 5.08% 10.97% 60.21% 6.39% 100.00%
271
financial Report
Return Guarantee Fund X (5 Yrs) (as on March 31, 2011) Industry Banking services Banking services total Housing finance services Housing finance services total Others Net current assets Grand Total Security name 9.95% State Bank of India 2021 9.75% State Bank of Bikaner & Jaipur 2016 9.20% Canara Bank 2015 10.84% HDFC Bank Limited 2017 Bank of India 2011 10.85% HDFC Bank Limited 2018 9.50% Canara Bank 2019 9.50% State Bank of Patiala 2013 9.75% LIC Housing Finance Limited 2017 9.80% LIC Housing Finance Limited 2017 10.35% Housing Development Finance Corporation Limited 2017 10.25% Housing Development Finance Corporation Limited 2017 9.75% Housing Development Finance Corporation Limited 2016 9.90% Housing Development Finance Corporation Limited 2018 9.70% Housing Development Finance Corporation Limited 2017 9.70% Housing Development Finance Corporation Limited 2016 Asset type NCD FD FD NCD CD NCD FD FD NCD NCD NCD NCD NCD NCD NCD NCD Market value (` 000) 243,632 238,800 226,710 148,182 105,832 83,594 14,000 135 1,060,885 94,023 71,002 61,763 60,032 58,010 22,495 20,220 16,246 403,791 1,070,070 82,961 2,617,708 % of assets held 9.31% 9.12% 8.66% 5.66% 4.04% 3.19% 0.53% 0.01% 40.53% 3.59% 2.71% 2.36% 2.29% 2.22% 0.86% 0.77% 0.62% 15.43% 40.88% 3.17% 100.00%
Return Guarantee Fund XI (5 Yrs) (as on March 31, 2011) Industry Banking services Banking services total Others Net current assets Grand Total Security name 9.50% Canara Bank 2019 9.75% State Bank of Bikaner & Jaipur 2016 9.95% State Bank of India 2021 10.84% HDFC Bank Limited 2017 Asset type FD FD NCD NCD Market value (` 000) 59,000 57,700 46,124 36,617 199,441 441,427 249,117 889,985 % of assets held 6.63% 6.48% 5.18% 4.11% 22.41% 49.60% 27.99% 100.00%
RICH Fund (as on March 31, 2011) Industry Banking services Banking services total Computer software Computer software total Others Net current assets Grand Total Security name 10.35% Union Bank of India 2012 HDFC Bank Limited Punjab National Bank Kotak Mahindra Bank Limited Axis Bank Limited Bank of Baroda Allahabad Bank State Bank of India Corporation Bank 2011 Jammu & Kashmir Bank Limited South Indian Bank Limited ICICI Bank Limited 2011 Bank of India 2011 Punjab National Bank 2011 Federal Bank Limited United Bank of India Dhanlaxmi Bank Limited Bank of Baroda 2011 Union Bank of India Development Credit Bank Limited Tata Consultancy Services Limited Infosys Technologies Limited Infotech Enterprises Limited Onmobile Global Limited Asset type FD Equity Equity Equity Equity Equity Equity Equity CD Equity Equity CD CD CD Equity Equity Equity CD Equity Equity Equity Equity Equity Equity Market value (` 000) 600,000 1,762,683 1,120,870 1,008,030 790,828 563,955 482,783 465,400 332,319 288,420 245,211 243,961 239,777 225,615 136,033 127,917 102,784 60,226 43,866 2,935 8,843,613 1,591,143 1,472,386 284,384 97,615 3,445,528 20,216,010 182,990 32,688,141 % of assets held 1.84% 5.39% 3.43% 3.08% 2.42% 1.73% 1.48% 1.42% 1.02% 0.88% 0.75% 0.75% 0.73% 0.69% 0.42% 0.39% 0.31% 0.18% 0.13% 0.01% 27.05% 4.87% 4.50% 0.87% 0.30% 10.54% 61.85% 0.56% 100.00%
272

RICH Fund (as on March 31, 2010) Industry Banking services Security name HDFC Bank Limited Axis Bank Limited State Bank of Hyderabad 2010 State Bank of India Punjab National Bank State Bank of Travancore 2010 Allahabad Bank 2010 Development Credit Bank Limited Syndicate Bank 2010 Bank of Baroda Axis Bank Limited 2010 Bank of Baroda 2011 Asset type Equity Equity CD Equity Equity CD CD Equity CD Equity CD CD Market value (` 000) 1,692,781 874,038 403,291 367,218 293,245 200,898 190,486 188,341 164,288 159,435 32,358 28,391 4,594,770 17,308,958 301,177 22,204,905 % of assets held 7.62% 3.94% 1.82% 1.65% 1.32% 0.90% 0.86% 0.85% 0.74% 0.72% 0.15% 0.13% 20.69% 77.95% 1.36% 100.00%
Secure Plus Fund (as on March 31, 2011) Industry Banking services Banking services total Security name 9.85% State Bank of India 2013 9.70% Canara Bank 2011 Bank of India 2011 10.35% Canara Bank 2012 9.85% Bank of India 2011 Oriental Bank of Commerce 2011 Bank of India 2012 Corporation Bank 2011 Bank of Baroda 2011 Punjab National Bank 2012 9.95% State Bank of India 2021 10.30% IDBI Bank Limited 2012 State Bank of Hyderabad 2011 Union Bank of India 2011 8.25% Canara Bank 2011 9.80% Bank of India 2011 9.70% Canara Bank 2012 9.58% Bank of India 2011 Syndicate Bank 2011 Bank of Baroda 10.31% Union Bank of India 2012 State Bank of India ICICI Bank Limited 2011 10.30% Canara Bank 2013 HDFC Bank Limited 9.87% Axis Bank Limited 2012 9.78% State Bank of Patiala 2011 9.95% Axis Bank Limited 2012 10.30% Axis Bank Limited 2013 10.02% Union Bank of India 2013 10.03% Bank of India 2012 Corporation Bank 2012 State Bank of Bikaner & Jaipur 2011 Punjab National Bank 9.80% Bank of India 2012 8.10% State Bank of Patiala 2011 State Bank of Patiala 2011 State Bank of Travancore 2011 9.45% Punjab National Bank 2011 9.55% Oriental Bank of Commerce 2011 9.00% State Bank of India 2011 9.02% Punjab National Bank 2011 State Bank of India 2011 Bank of Baroda 2012 State Bank of India 2012 State Bank of Bikaner & Jaipur 2012 Central Bank of India 2011 State Bank of Hyderabad 2012 Canara Bank 2011 8.98% State Bank of Patiala 2011 Indian Bank 2011 Indian Overseas Bank 2011 Federal Bank Limited 2011 Axis Bank Limited 2012 8.47% IDBI Bank Limited 2011 ICICI Bank Limited 2012 Asset type FD FD CD FD FD CD CD CD CD CD NCD NCD CD CD FD FD FD FD CD Equity FD Equity CD FD Equity FD FD FD FD FD FD CD CD Equity FD FD CD CD FD FD FD FD CD CD CD CD CD CD CD FD CD CD CD CD NCD CD Market value (` 000) 19,907 8,370 8,336 7,588 7,182 6,717 4,831 4,772 4,547 4,467 3,845 3,825 3,801 3,754 3,662 3,593 3,592 3,588 3,366 3,090 3,065 3,006 2,970 2,905 2,853 2,757 2,694 2,608 2,597 2,573 2,453 2,396 2,382 2,268 2,062 1,833 1,802 1,797 1,794 1,794 1,788 1,785 1,745 1,417 1,375 1,329 1,279 1,198 954 896 842 841 715 683 664 593 179,546 % of assets held 5.44% 2.29% 2.28% 2.07% 1.96% 1.83% 1.32% 1.30% 1.24% 1.22% 1.05% 1.04% 1.04% 1.03% 1.00% 0.98% 0.98% 0.98% 0.92% 0.84% 0.84% 0.82% 0.81% 0.79% 0.78% 0.75% 0.74% 0.71% 0.71% 0.70% 0.67% 0.65% 0.65% 0.62% 0.56% 0.50% 0.49% 0.49% 0.49% 0.49% 0.49% 0.49% 0.48% 0.39% 0.38% 0.36% 0.35% 0.33% 0.26% 0.24% 0.23% 0.23% 0.20% 0.19% 0.18% 0.16% 49.05%
273
financial Report
Secure Plus Fund (as on March 31, 2011) Industry Housing finance services Housing finance services total Others Net current assets Grand Total Security name 7.45% LIC Housing Finance Limited 2012 Housing Development Finance Corporation Limited Housing Development Finance Corporation Limited 2012 10.00% ICICI Home Finance Company Limited 2013 Housing Development Finance Corporation Limited 2011 9.50% Housing Development Finance Corporation Limited 2013 9.90% Housing Development Finance Corporation Limited 2014 8.40% LIC Housing Finance Limited 2013 8.48% LIC Housing Finance Limited 2013 9.35% LIC Housing Finance Limited 2012 9.45% Housing Development Finance Corporation Limited 2013 9.70% Housing Development Finance Corporation Limited 2016 9.85% LIC Housing Finance Limited 2014 Housing Development Finance Corporation Limited 2016 9.75% Housing Development Finance Corporation Limited 2016 7.95% Housing Development Finance Corporation Limited 2014 0.00% Housing Development Finance Corporation Limited 2012 7.38% LIC Housing Finance Limited 2011 7.64% LIC Housing Finance Limited 2012 9.90% Housing Development Finance Corporation Limited 2011 LIC Housing Finance Limited 2011 9.50% Housing Development Finance Corporation Limited 2014 9.20% Housing Development Finance Corporation Limited 2012 9.45% LIC Housing Finance Limited 2012 9.75% Housing Development Finance Corporation Limited 2014 7.99% LIC Housing Finance Limited 2013 6.85% LIC Housing Finance Limited 2011 7.35% Housing Development Finance Corporation Limited 2012 Asset type NCD Equity CP NCD CP NCD NCD NCD NCD NCD NCD NCD NCD FRN NCD NCD ZCB NCD NCD NCD CP NCD NCD NCD NCD NCD NCD NCD Market value (` 000) 5,388 2,906 2,853 2,075 2,074 1,999 1,938 1,842 1,794 1,615 1,605 1,541 1,526 1,518 1,369 1,338 1,135 1,009 999 893 887 757 633 610 606 439 396 194 41,939 135,995 8,602 366,082 % of assets held 1.47% 0.79% 0.78% 0.57% 0.57% 0.55% 0.53% 0.50% 0.49% 0.44% 0.44% 0.42% 0.42% 0.41% 0.37% 0.37% 0.31% 0.28% 0.27% 0.24% 0.24% 0.21% 0.17% 0.17% 0.17% 0.12% 0.11% 0.05% 11.46% 37.15% 2.35% 100.00%
Secure Plus Fund (as on March 31, 2010) Industry Banking services Security name ICICI Bank Limited 2010 7.05% Canara Bank 2011 Bank of India 2011 7.25% State Bank of Indore 2010 9.25% IDBI Bank Limited 2014 7% Canara Bank 2011 Oriental Bank of Commerce 2010 Union Bank of India 2010 HDFC Bank Limited 2011 Allahabad Bank 2010 Bank of Baroda 2011 Axis Bank Limited 2010 10.3% IDBI Bank Limited 2012 6.99% Union Bank of India 2011 Oriental Bank of Commerce 2011 State Bank of Patiala 2010 United Bank of India 2010 Yes Bank Limited 2011 Corporation Bank 2011 8.47% IDBI Bank Limited 2013 9.8% ICICI Bank Limited 2013 State Bank of India 6.55% National Housing Bank 2012 8.88% Infrastructure Development Finance Company Limited 2011 11.1% Power Finance Corporation Limited 2013 10.9% Rural Electrification Corporation Limited 2013 7.9% Rural Electrification Corporation Limited 2012 11.4% Power Finance Corporation Limited 2013 8.46% Indian Railway Finance Corporation Limited 2014 7.15% Rural Electrification Corporation Limited 2012 8.6% Infrastructure Development Finance Company Limited 2011 9.8% Power Finance Corporation Limited 2012 6.42% National Housing Bank 2012 9.45% Rural Electrification Corporation Limited 2013 9.76% Indian Railway Finance Corporation Limited 2012 11.5% Rural Electrification Corporation Limited 2013 9.03% Power Finance Corporation Limited 2013 8.4% Indian Railway Finance Corporation Limited 2013 NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCB NCD NCD NCD Asset type CD FD CD FD NCD FD CD CD CD CD CD CD NCD FD CD CD CD CD CD NCD NCD Equity Market value (` 000) 19,446 11,936 9,825 9,600 8,134 7,877 6,615 6,196 5,774 5,584 5,312 5,059 4,023 3,055 2,880 2,778 2,749 2,646 1,923 676 427 89 122,604 7,876 6,569 5,578 5,285 4,874 4,696 3,498 3,078 2,237 2,180 2,028 1,950 1,868 1,850 1,745 1,392 % of assets held 5.92% 3.63% 2.99% 2.92% 2.48% 2.40% 2.01% 1.89% 1.76% 1.70% 1.62% 1.54% 1.22% 0.93% 0.88% 0.85% 0.84% 0.81% 0.59% 0.21% 0.13% 0.03% 37.33% 2.40% 2.00% 1.70% 1.61% 1.48% 1.43% 1.07% 0.94% 0.68% 0.66% 0.62% 0.59% 0.57% 0.56% 0.53% 0.42%
274

Secure Plus Fund (as on March 31, 2010) Industry Security name 6.9% National Housing Bank 2012 10.75% Power Finance Corporation Limited 2011 9.5% Export-Import Bank of India 2013 9% Infrastructure Development Finance Company Limited 2010 Power Finance Corporation Limited 2019 8.5% Power Finance Corporation Limited 2014 0% Infrastructure Development Finance Company Limited 2011 8.75% Indian Railway Finance Corporation Limited 2013 8.5% Export-Import Bank of India 2011 8.94% Power Finance Corporation Limited 2013 9.68% Indian Railway Finance Corporation Limited 2012 8.55% Power Finance Corporation Limited 2011 7.75% Rural Electrification Corporation Limited 2012 8.45% Power Finance Corporation Limited 2014 8.83% Indian Railway Finance Corporation Limited 2012 9.05% Infrastructure Development Finance Company Limited 2010 Financial institutions total Refinery 7.73% Bharat Petroleum Corporation Limited 2012 11.45% Reliance Industries Limited 2013 7% Indian Oil Corporation Limited 2012 10.1% Reliance Industries Limited 2011 7.35% Hindustan Petroleum Corporation Limited 2012 Reliance Industries Limited Hindustan Petroleum Corporation Limited Asset type NCD NCD NCD NCD FRN NCD ZCB NCD NCB NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD Equity Equity Market value (` 000) 1,293 1,281 1,205 1,110 1,046 988 982 930 920 673 632 418 412 407 238 207 69,446 18,116 14,986 6,771 1,716 1,051 79 9 42,728 84,429 9,202 328,409 % of assets held 0.39% 0.39% 0.37% 0.34% 0.32% 0.30% 0.30% 0.28% 0.28% 0.20% 0.19% 0.13% 0.13% 0.12% 0.07% 0.06% 21.15% 5.52% 4.56% 2.06% 0.52% 0.32% 0.02% 0.00% 13.01% 25.71% 2.80% 100.00%
Secure Plus Pension Fund (as on March 31, 2011) Industry Banking services Security name 9.85% State Bank of India 2013 9.70% Canara Bank 2011 Bank of India 2011 Bank of Baroda 2011 10.35% Canara Bank 2012 9.85% Bank of India 2011 Oriental Bank of Commerce 2011 10.31% Union Bank of India 2012 Corporation Bank 2011 Punjab National Bank 2012 Central Bank of India 2011 10.30% IDBI Bank Limited 2012 9.95% State Bank of India 2021 Union Bank of India 2011 State Bank of Hyderabad 2011 Bank of Baroda 9.70% Canara Bank 2012 9.80% Bank of India 2011 9.58% Bank of India 2011 HDFC Bank Limited Syndicate Bank 2011 State Bank of India 10.30% Canara Bank 2013 ICICI Bank Limited 2011 9.87% Axis Bank Limited 2012 9.78% State Bank of Patiala 2011 Punjab National Bank 10.30% Axis Bank Limited 2013 10.02% Union Bank of India 2013 9.95% Axis Bank Limited 2012 10.03% Bank of India 2012 Corporation Bank 2012 State Bank of Bikaner & Jaipur 2011 Bank of Baroda 2012 Bank of India 2012 State Bank of Bikaner & Jaipur 2012 9.80% Bank of India 2012 8.10% State Bank of Patiala 2011 State Bank of Patiala 2011 State Bank of Travancore 2011 9.45% Punjab National Bank 2011 9.55% Oriental Bank of Commerce 2011 9.00% State Bank of India 2011 9.02% Punjab National Bank 2011 State Bank of India 2011 State Bank of India 2012 State Bank of Hyderabad 2012 Asset type FD FD CD CD FD FD CD FD CD CD CD NCD NCD CD CD Equity FD FD FD Equity CD Equity FD CD FD FD Equity FD FD FD FD CD CD CD CD CD FD FD CD CD FD FD FD FD CD CD CD Market value (` 000) 8,353 3,511 3,498 3,330 3,186 3,010 2,819 2,045 2,014 1,886 1,751 1,682 1,630 1,608 1,583 1,515 1,507 1,506 1,505 1,445 1,412 1,396 1,223 1,205 1,157 1,128 1,110 1,089 1,076 1,056 1,026 1,006 989 944 908 880 864 778 768 765 752 752 751 749 733 584 503 % of assets held 5.32% 2.24% 2.23% 2.12% 2.03% 1.92% 1.79% 1.30% 1.28% 1.20% 1.12% 1.07% 1.04% 1.02% 1.01% 0.96% 0.96% 0.96% 0.96% 0.92% 0.90% 0.89% 0.78% 0.77% 0.74% 0.72% 0.71% 0.69% 0.69% 0.67% 0.65% 0.64% 0.63% 0.60% 0.58% 0.56% 0.55% 0.50% 0.49% 0.49% 0.48% 0.48% 0.48% 0.48% 0.47% 0.37% 0.32%
275
financial Report
Secure Plus Pension Fund (as on March 31, 2011) Industry Banking services total Housing finance services Housing finance services total Others Net current assets Grand Total Security name Canara Bank 2011 8.98% State Bank of Patiala 2011 Indian Bank 2011 Indian Overseas Bank 2011 8.47% IDBI Bank Limited 2011 Federal Bank Limited 2011 Axis Bank Limited 2012 ICICI Bank Limited 2012 7.45% LIC Housing Finance Limited 2012 Housing Development Finance Corporation Limited Housing Development Finance Corporation Limited 2012 10.00% ICICI Home Finance Company Limited 2013 Housing Development Finance Corporation Limited 2011 9.50% Housing Development Finance Corporation Limited 2013 9.90% Housing Development Finance Corporation Limited 2014 8.40% LIC Housing Finance Limited 2013 8.48% LIC Housing Finance Limited 2013 9.35% LIC Housing Finance Limited 2012 9.45% Housing Development Finance Corporation Limited 2013 9.85% LIC Housing Finance Limited 2014 9.70% Housing Development Finance Corporation Limited 2016 Housing Development Finance Corporation Limited 2016 7.95% Housing Development Finance Corporation Limited 2014 9.75% Housing Development Finance Corporation Limited 2016 0.00% Housing Development Finance Corporation Limited 2012 7.38% LIC Housing Finance Limited 2011 7.64% LIC Housing Finance Limited 2012 9.90% Housing Development Finance Corporation Limited 2011 LIC Housing Finance Limited 2011 9.50% Housing Development Finance Corporation Limited 2014 9.20% Housing Development Finance Corporation Limited 2012 9.45% LIC Housing Finance Limited 2012 9.75% Housing Development Finance Corporation Limited 2014 7.99% LIC Housing Finance Limited 2013 6.85% LIC Housing Finance Limited 2011 7.35% Housing Development Finance Corporation Limited 2012 NCD Equity CP NCD CP NCD NCD NCD NCD NCD NCD NCD NCD FRN NCD NCD ZCB NCD NCD NCD CP NCD NCD NCD NCD NCD NCD NCD Asset type CD FD CD CD NCD CD CD CD Market value (` 000) 410 376 353 353 304 299 286 253 77,622 2,353 1,430 1,198 982 893 862 816 790 762 685 674 648 634 615 582 575 486 436 432 382 373 307 281 259 249 179 169 83 18,135 58,266 3,019 157,042 % of assets held 0.26% 0.24% 0.22% 0.22% 0.19% 0.19% 0.18% 0.16% 49.43% 1.50% 0.91% 0.76% 0.63% 0.57% 0.55% 0.52% 0.50% 0.49% 0.44% 0.43% 0.41% 0.40% 0.39% 0.37% 0.37% 0.31% 0.28% 0.27% 0.24% 0.24% 0.20% 0.18% 0.16% 0.16% 0.11% 0.11% 0.05% 11.55% 37.10% 1.92% 100.00%
Secure Plus Pension Fund (as on March 31, 2010) Industry Banking services Security name 7.25% State Bank of Indore 2010 ICICI Bank Limited 2010 7.05% Canara Bank 2011 Bank of India 2011 9.25% IDBI Bank Limited 2014 7% Canara Bank 2011 Oriental Bank of Commerce 2010 HDFC Bank Limited 2011 Allahabad Bank 2010 Bank of Baroda 2011 10.3% IDBI Bank Limited 2012 Axis Bank Limited 2010 Union Bank of India 2010 6.99% Union Bank of India 2011 Oriental Bank of Commerce 2011 State Bank of Patiala 2010 United Bank of India 2010 Yes Bank Limited 2011 Corporation Bank 2011 8.47% IDBI Bank Limited 2013 9.8% ICICI Bank Limited 2013 6.55% National Housing Bank 2012 8.88% Infrastructure Development Finance Company Limited 2011 11.1% Power Finance Corporation Limited 2013 10.9% Rural Electrification Corporation Limited 2013 7.9% Rural Electrification Corporation Limited 2012 11.4% Power Finance Corporation Limited 2013 8.46% Indian Railway Finance Corporation Limited 2014 7.15% Rural Electrification Corporation Limited 2012 8.6% Infrastructure Development Finance Company Limited 2011 9.8% Power Finance Corporation Limited 2012 6.42% National Housing Bank 2012 Asset type FD CD FD CD NCD FD CD CD CD CD NCD CD CD FD CD CD CD CD CD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD Market value (` 000) 9,600 7,406 5,166 4,255 3,467 2,904 2,757 2,498 2,192 2,085 1,769 1,753 1,630 1,320 1,244 1,208 1,079 1,039 830 309 191 54,702 3,354 2,647 2,458 2,319 2,074 2,046 1,502 1,308 1,042 923 878 % of assets held 6.71% 5.17% 3.61% 2.97% 2.42% 2.03% 1.93% 1.74% 1.53% 1.46% 1.24% 1.22% 1.14% 0.92% 0.87% 0.84% 0.75% 0.73% 0.58% 0.22% 0.13% 38.21% 2.34% 1.85% 1.72% 1.62% 1.45% 1.43% 1.05% 0.91% 0.73% 0.64% 0.61%
276

Secure Plus Pension Fund (as on March 31, 2010) Industry Security name 9.45% Rural Electrification Corporation Limited 2013 9.76% Indian Railway Finance Corporation Limited 2012 11.5% Rural Electrification Corporation Limited 2013 9.03% Power Finance Corporation Limited 2013 8.4% Indian Railway Finance Corporation Limited 2013 6.9% National Housing Bank 2012 10.75% Power Finance Corporation Limited 2011 9% Infrastructure Development Finance Company Limited 2010 9.5% Export-Import Bank of India 2013 8.5% Export-Import Bank of India 2011 Power Finance Corporation Limited 2019 8.5% Power Finance Corporation Limited 2014 0% Infrastructure Development Finance Company Limited 2011 8.75% Indian Railway Finance Corporation Limited 2013 9.68% Indian Railway Finance Corporation Limited 2012 8.94% Power Finance Corporation Limited 2013 8.55% Power Finance Corporation Limited 2011 7.75% Rural Electrification Corporation Limited 2012 8.45% Power Finance Corporation Limited 2014 8.83% Indian Railway Finance Corporation Limited 2012 9.05% Infrastructure Development Finance Company Limited 2010 Financial institutions total Refinery 7.73% Bharat Petroleum Corporation Limited 2012 11.45% Reliance Industries Limited 2013 7% Indian Oil Corporation Limited 2012 10.1% Reliance Industries Limited 2011 7.35% Hindustan Petroleum Corporation Limited 2012 NCD NCD NCD NCD NCD Asset type NCD NCB NCD NCD NCD NCD NCD NCD NCD NCB FRN NCD ZCB NCD NCD NCD NCD NCD NCD NCD NCD Market value (` 000) 862 846 811 799 609 551 543 530 530 511 443 418 416 403 314 288 177 176 173 110 90 30,151 7,742 6,518 2,935 743 447 18,385 35,974 3,961 143,173 % of assets held 0.60% 0.59% 0.57% 0.56% 0.43% 0.38% 0.38% 0.37% 0.37% 0.36% 0.31% 0.29% 0.29% 0.28% 0.22% 0.20% 0.12% 0.12% 0.12% 0.08% 0.06% 21.06% 5.41% 4.55% 2.05% 0.52% 0.31% 12.84% 25.13% 2.77% 100.00%
Secure Save Builder Fund (as on March 31, 2011) Industry Banking services Security name State Bank of India HDFC Bank Limited Bank of Baroda 2011 10.31% Union Bank of India 2012 9.85% State Bank of India 2013 Axis Bank Limited Bank of Baroda 2012 ICICI Bank Limited 2011 Punjab National Bank 9.10% HDFC Bank Limited 2016 10.35% Canara Bank 2012 Bank of India 2011 9.70% Canara Bank 2011 9.85% Bank of India 2011 Bank of India 2012 Central Bank of India 2011 Punjab National Bank 2012 Corporation Bank 2011 Oriental Bank of Commerce 2011 9.95% State Bank of India 2021 State Bank of Hyderabad 2011 10.30% IDBI Bank Limited 2012 Kotak Mahindra Bank Limited 9.80% Bank of India 2011 10.30% Axis Bank Limited 2013 9.70% Canara Bank 2012 10.02% Union Bank of India 2013 9.58% Bank of India 2011 8.25% Canara Bank 2011 10.30% Canara Bank 2013 10.03% Bank of India 2012 Syndicate Bank 2011 9.95% Axis Bank Limited 2012 Union Bank of India 2011 9.87% Axis Bank Limited 2012 Corporation Bank 2012 9.78% State Bank of Patiala 2011 State Bank of Bikaner & Jaipur 2011 9.80% Bank of India 2012 9.00% State Bank of India 2011 9.02% Punjab National Bank 2011 State Bank of India 2011 State Bank of Patiala 2011 Asset type Equity Equity CD FD FD Equity CD CD Equity NCD FD CD FD FD CD CD CD CD CD NCD CD NCD Equity FD FD FD FD FD FD FD FD CD FD CD FD CD FD CD FD FD FD CD CD Market value (` 000) 791 673 633 615 351 300 287 188 173 151 148 142 139 124 90 90 89 88 88 77 73 71 63 61 60 60 59 59 58 57 57 57 56 56 55 47 46 43 36 33 33 31 30 % of assets held 3.62% 3.08% 2.90% 2.81% 1.60% 1.37% 1.31% 0.86% 0.79% 0.69% 0.68% 0.65% 0.64% 0.57% 0.41% 0.41% 0.40% 0.40% 0.40% 0.35% 0.33% 0.33% 0.29% 0.28% 0.28% 0.27% 0.27% 0.27% 0.27% 0.26% 0.26% 0.26% 0.26% 0.25% 0.25% 0.21% 0.21% 0.20% 0.16% 0.15% 0.15% 0.14% 0.14%
277
financial Report
Secure Save Builder Fund (as on March 31, 2011) Industry Banking services total Computer software Computer software total Others Net current assets Grand Total Security name State Bank of Travancore 2011 9.45% Punjab National Bank 2011 9.55% Oriental Bank of Commerce 2011 8.10% State Bank of Patiala 2011 State Bank of India 2012 State Bank of Hyderabad 2012 8.98% State Bank of Patiala 2011 Federal Bank Limited 2011 Axis Bank Limited 2012 Indian Overseas Bank 2011 Indian Bank 2011 ICICI Bank Limited 2012 8.47% IDBI Bank Limited 2011 Infosys Technologies Limited Tata Consultancy Services Limited Wipro Limited HCL Technologies Limited Asset type CD FD FD FD CD CD FD CD CD CD CD CD NCD Equity Equity Equity Equity Market value (` 000) 30 29 29 29 28 23 16 16 15 14 14 12 4 6,697 1,147 886 413 118 2,564 12,368 223 21,852 % of assets held 0.14% 0.13% 0.13% 0.13% 0.13% 0.11% 0.07% 0.07% 0.07% 0.06% 0.06% 0.05% 0.01% 30.65% 5.25% 4.05% 1.89% 0.54% 11.73% 56.60% 1.02% 100.00%
Secure Save Builder Fund (as on March 31, 2010) Industry Banking services Security name State Bank of India HDFC Bank Limited ICICI Bank Limited 2010 Bank of India 2011 9.1% HDFC Bank Limited 2016 Axis Bank Limited 7.05% Canara Bank 2011 Punjab National Bank 10.3% IDBI Bank Limited 2012 7% Canara Bank 2011 9.25% IDBI Bank Limited 2014 HDFC Bank Limited 2011 Axis Bank Limited 2010 Oriental Bank of Commerce 2010 6.99% Union Bank of India 2011 Oriental Bank of Commerce 2011 State Bank of Patiala 2010 9.8% ICICI Bank Limited 2013 Corporation Bank 2011 Union Bank of India 2010 8.47% IDBI Bank Limited 2013 Infosys Technologies Limited Tata Consultancy Services Limited Wipro Limited 8.2% HCL Technologies Limited 2012 HCL Technologies Limited 11.1% Power Finance Corporation Limited 2013 8.88% Infrastructure Development Finance Company Limited 2011 9.45% Rural Electrification Corporation Limited 2013 7.9% Rural Electrification Corporation Limited 2012 6.55% National Housing Bank 2012 10.9% Rural Electrification Corporation Limited 2013 0% Infrastructure Development Finance Company Limited 2011 11.4% Power Finance Corporation Limited 2013 7.15% Rural Electrification Corporation Limited 2012 8.46% Indian Railway Finance Corporation Limited 2014 9.8% Power Finance Corporation Limited 2012 6.42% National Housing Bank 2012 10.75% Power Finance Corporation Limited 2011 6.9% National Housing Bank 2012 8.4% Indian Railway Finance Corporation Limited 2013 9.76% Indian Railway Finance Corporation Limited 2012 Power Finance Corporation Limited 2019 8.5% Power Finance Corporation Limited 2014 8.75% Indian Railway Finance Corporation Limited 2013 9.5% Export-Import Bank of India 2013 8.94% Power Finance Corporation Limited 2013 7.75% Rural Electrification Corporation Limited 2012 8.45% Power Finance Corporation Limited 2014 Asset type Equity Equity CD CD NCD Equity FD Equity NCD FD NCD CD CD CD FD CD CD NCD CD CD NCD Equity Equity Equity NCD Equity NCD NCD NCD NCD NCD NCD ZCB NCD NCD NCD NCD NCD NCD NCD NCD NCB FRN NCD NCD NCD NCD NCD NCD Market value (` 000) 318 228 189 162 154 111 108 81 75 70 59 53 46 35 27 25 25 19 17 12 3 1,817 413 367 245 105 56 1,186 445 206 76 72 71 34 32 32 27 26 19 18 12 10 9 9 9 8 7 7 5 4 4 % of assets held 2.99% 2.14% 1.78% 1.52% 1.45% 1.04% 1.02% 0.76% 0.70% 0.66% 0.55% 0.50% 0.43% 0.33% 0.25% 0.23% 0.23% 0.18% 0.16% 0.11% 0.03% 17.08% 3.88% 3.45% 2.30% 0.99% 0.53% 11.15% 4.18% 1.94% 0.71% 0.68% 0.67% 0.32% 0.30% 0.30% 0.25% 0.24% 0.18% 0.17% 0.11% 0.09% 0.08% 0.08% 0.08% 0.08% 0.07% 0.07% 0.05% 0.04% 0.04%
Computer software total Financial institutions
278

Secure Save Builder Fund (as on March 31, 2010) Industry Security name 8.55% Power Finance Corporation Limited 2011 8.6% Infrastructure Development Finance Company Limited 2011 9% Infrastructure Development Finance Company Limited 2010 9.05% Infrastructure Development Finance Company Limited 2010 Financial institutions total Others Net current assets Grand Total Asset type NCD NCD NCD NCD Market value (` 000) 4 4 2 2 1,154 6,357 126 10,640 % of assets held 0.04% 0.04% 0.02% 0.02% 10.85% 59.75% 1.18% 100.00%
Secure Save Guarantee Fund (as on March 31, 2011) Industry Banking services Banking services total Others Net current assets Grand Total Security name Bank of Baroda 2011 9.85% State Bank of India 2013 10.31% Union Bank of India 2012 Bank of Baroda 2012 State Bank of Bikaner & Jaipur 2012 State Bank of India HDFC Bank Limited 10.35% Canara Bank 2012 ICICI Bank Limited 2011 9.70% Canara Bank 2011 Bank of India 2011 9.85% Bank of India 2011 Oriental Bank of Commerce 2011 10.30% IDBI Bank Limited 2012 Punjab National Bank 2012 Corporation Bank 2011 Central Bank of India 2011 Bank of India 2012 9.10% HDFC Bank Limited 2016 9.95% State Bank of India 2021 Axis Bank Limited State Bank of Hyderabad 2011 9.80% Bank of India 2011 9.70% Canara Bank 2012 9.58% Bank of India 2011 8.25% Canara Bank 2011 10.30% Canara Bank 2013 Union Bank of India 2011 Syndicate Bank 2011 10.30% Axis Bank Limited 2013 10.02% Union Bank of India 2013 9.95% Axis Bank Limited 2012 9.87% Axis Bank Limited 2012 10.03% Bank of India 2012 Corporation Bank 2012 9.78% State Bank of Patiala 2011 State Bank of Bikaner & Jaipur 2011 Punjab National Bank 9.80% Bank of India 2012 9.00% State Bank of India 2011 9.02% Punjab National Bank 2011 9.45% Punjab National Bank 2011 9.55% Oriental Bank of Commerce 2011 8.10% State Bank of Patiala 2011 State Bank of India 2011 State Bank of Patiala 2011 State Bank of Travancore 2011 State Bank of India 2012 State Bank of Hyderabad 2012 8.98% State Bank of Patiala 2011 Federal Bank Limited 2011 Kotak Mahindra Bank Limited Axis Bank Limited 2012 Indian Overseas Bank 2011 Indian Bank 2011 ICICI Bank Limited 2012 8.47% IDBI Bank Limited 2011 Asset type CD FD FD CD CD Equity Equity FD CD FD CD FD CD NCD CD CD CD CD NCD NCD Equity CD FD FD FD FD FD CD CD FD FD FD FD FD CD FD CD Equity FD FD FD FD FD FD CD CD CD CD CD FD CD Equity CD CD CD CD NCD Market value (` 000) 5,219 3,086 2,840 2,324 1,842 1,737 1,466 1,355 1,316 1,278 1,278 1,107 905 840 799 797 779 776 745 690 657 632 552 548 548 544 520 520 515 494 489 480 477 467 428 414 386 374 318 279 278 273 273 272 271 266 265 246 214 139 136 134 130 129 129 107 30 44,110 43,373 1,183 88,666 % of assets held 5.89% 3.48% 3.20% 2.62% 2.08% 1.96% 1.65% 1.53% 1.48% 1.44% 1.44% 1.25% 1.02% 0.95% 0.90% 0.90% 0.88% 0.88% 0.84% 0.78% 0.74% 0.71% 0.62% 0.62% 0.62% 0.61% 0.59% 0.59% 0.58% 0.56% 0.55% 0.54% 0.54% 0.53% 0.48% 0.47% 0.44% 0.42% 0.36% 0.31% 0.31% 0.31% 0.31% 0.31% 0.31% 0.30% 0.30% 0.28% 0.24% 0.16% 0.15% 0.15% 0.15% 0.15% 0.14% 0.12% 0.03% 49.75% 48.92% 1.34% 100.00%
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financial Report
Secure Save Guarantee Fund (as on March 31, 2010) Industry Banking services Security name ICICI Bank Limited 2010 7.05% Canara Bank 2011 10.3% IDBI Bank Limited 2012 Bank of India 2011 9.1% HDFC Bank Limited 2016 State Bank of India 9.25% IDBI Bank Limited 2014 7% Canara Bank 2011 HDFC Bank Limited 2011 9.8% ICICI Bank Limited 2013 HDFC Bank Limited Axis Bank Limited 2010 Oriental Bank of Commerce 2010 6.99% Union Bank of India 2011 Oriental Bank of Commerce 2011 State Bank of Patiala 2010 Axis Bank Limited Punjab National Bank Corporation Bank 2011 Union Bank of India 2010 8.47% IDBI Bank Limited 2013 11.1% Power Finance Corporation Limited 2013 8.88% Infrastructure Development Finance Company Limited 2011 7.9% Rural Electrification Corporation Limited 2012 9.45% Rural Electrification Corporation Limited 2013 6.55% National Housing Bank 2012 11.5% Rural Electrification Corporation Limited 2013 10.9% Rural Electrification Corporation Limited 2013 11.4% Power Finance Corporation Limited 2013 8.46% Indian Railway Finance Corporation Limited 2014 7.15% Rural Electrification Corporation Limited 2012 9.8% Power Finance Corporation Limited 2012 6.42% National Housing Bank 2012 0% Infrastructure Development Finance Company Limited 2011 10.75% Power Finance Corporation Limited 2011 6.9% National Housing Bank 2012 8.4% Indian Railway Finance Corporation Limited 2013 9.76% Indian Railway Finance Corporation Limited 2012 Power Finance Corporation Limited 2019 8.5% Power Finance Corporation Limited 2014 8.75% Indian Railway Finance Corporation Limited 2013 9.5% Export-Import Bank of India 2013 8.94% Power Finance Corporation Limited 2013 8.55% Power Finance Corporation Limited 2011 8.6% Infrastructure Development Finance Company Limited 2011 7.75% Rural Electrification Corporation Limited 2012 8.45% Power Finance Corporation Limited 2014 9.05% Infrastructure Development Finance Company Limited 2010 9% Infrastructure Development Finance Company Limited 2010 Infrastructure Development Finance Company Limited 7.73% Bharat Petroleum Corporation Limited 2012 Reliance Industries Limited 7% Indian Oil Corporation Limited 2012 11.45% Reliance Industries Limited 2013 10.1% Reliance Industries Limited 2011 Bharat Petroleum Corporation Limited 7.35% Hindustan Petroleum Corporation Limited 2012 Asset type CD FD NCD CD NCD Equity NCD FD CD NCD Equity CD CD FD CD CD Equity Equity CD CD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD ZCB NCD NCD NCD NCB FRN NCD NCD NCD NCD NCD NCD NCD NCD NCD NCD Equity NCD Equity NCD NCD NCD Equity NCD Market value (` 000) 1,581 1,012 883 773 759 690 678 667 490 481 474 425 333 259 244 236 235 165 163 138 31 10,717 2,041 1,854 734 709 674 489 375 334 278 261 184 172 133 110 107 97 91 87 83 72 70 55 36 36 35 35 18 15 6 9,191 1,514 1,498 719 530 146 95 87 4,589 19,666 (395) 43,768 % of assets held 3.61% 2.31% 2.02% 1.77% 1.73% 1.58% 1.55% 1.52% 1.12% 1.10% 1.08% 0.97% 0.76% 0.59% 0.56% 0.54% 0.54% 0.38% 0.37% 0.32% 0.07% 24.49% 4.66% 4.24% 1.68% 1.62% 1.54% 1.12% 0.86% 0.76% 0.64% 0.60% 0.42% 0.39% 0.30% 0.25% 0.24% 0.22% 0.21% 0.20% 0.19% 0.16% 0.16% 0.13% 0.08% 0.08% 0.08% 0.08% 0.04% 0.03% 0.01% 21.00% 3.46% 3.42% 1.64% 1.21% 0.33% 0.22% 0.20% 10.48% 44.93% (0.90%) 100.00%
(CD - Certificate of deposit, CP - Commercial paper, FD - Fixed deposit, FRN - Floating rate note, NCB - Non-convertible bond, NCD - Non-convertible debenture, PTC - Pass through certificate, ZCB - Zero coupon bond)
280
3.21 Assets held to cover Policyholders Liability The Policyholders liabilities including linked fund aggregating ` 641,205,279 thousand as at March 31, 2011 are adequately backed by assets as at March 31, 2011 as shown below:
(` 000)
Non-Par Annuities Non -Par Health 7,777,370 286,751 3,145,035 295,348,538 1,278,307 239,697,939 82,166 2,023,333 661,672 45,259,945 Linked Life Non Unit Linked Life Unit Linked Group Unit Linked Pension Non Unit Linked Pension Unit Linked Health Non Unit Linked Health Unit Linked Group Non Unit Total Policy holder 641,205,279
Description
Par Life #
Par Pension # 6,258,935
Policyholders Liabilities as per Balance Sheet [A]
26,843,945
12,541,343
Assets held to cover policyholders liabilities: 6,230,084 (6,189) 6,223,895 430,188 (395,148) 35,040 6,258,935 7,777,370 286,751 4,363,936 298,703,887 2,546,004 242,278,182 253,061 157,410 (4,852,770) (1,989,890) (53,706) 115,297 (6,107,057) (2,822,605) (111,944) (34,086) 82,166 306,767 42,113 1,254,287 832,715 77,858 7,524,309 129,341 9,216,706 298,703,887 4,535,894 242,278,182 116,252 2,023,333 2,023,333 7,524,309 129,341 9,216,706 298,703,887 4,535,894 242,278,182 116,252 2,023,333 1,208,156 1,208,156 78,168 (624,652) (546,484) 661,672 45,259,945 45,259,945 45,259,945 660,437,261 (2,315,440) (668,878) 657,452,943 3,898,056 (10,423,694) (6,525,638) 650,927,305
Investments (As per Schedule-8A & 8B)
29,331,201
13,879,971
Fair Value Change Account
(1,715,940)
(593,311)
Revaluation Reserve
(334,437)
(334,441)
Net Investments
27,280,824
12,952,219
Current Assets and Loans
745,675
130,285
Less: Current Liabilities 65,801
(359,395)
(64,484)
Net current asset
386,280
Total Assets [B]
27,667,104
13,018,020
The Policyholders liabilities including linked fund aggregating ` 539,654,281 thousand as at March 31, 2010 are adequately backed by assets as at March 31, 2010 as shown below:
(` 000)
Par Group Life # Par Group Pension # Non-Par Health 56,101 3,760,256 6,767,502 61,207 Annuities Non -Par Linked Life Non Unit 24,395 Linked Life Unit Linked Pension Non Unit 868,530 Linked Pension Unit 190,717,355 Linked Health Non Unit 47,995 Linked Health Unit 1,191,044 Linked Group Non Unit 117,705 Linked Group Unit 37,350,040 Total
Description
Par Life #
Par Pension #
Policyholders' Liabilities as per Balance Sheet [A]
18,815,753
4,154,240
1,219,596 274,502,562
539,654,281
Assets held to cover policyholders' liabilities: 25,391 25,391 168 (1,164) 24,395 56,101 (11,120) 531 306,639 (570,537) 3,760,256 66,690 4,024,154 6,740,538 143,087 (116,123) 6,767,502 66,690 4,024,154 6,740,538 148,900 148,900 72,422 (160,115) 61,207 4,516,836 278,573,749 4,516,836 278,573,749 766,970 (4,064,210) 3,117,031 (736,910) 1,219,596 280,953,870 1,497,256 1,497,256 755,578 (1,384,304) 868,530 194,065,464 194,065,464 3,512,871 (2,380,723) 195,197,612 95,781 95,781 70,650 (118,436) 47,995 1,139,952 1,139,952 61,932 (10,840) 1,191,044 555,663 555,663 31,303 (469,261) 117,705 35,387,135 35,387,135 2,115,517 (152,612) 37,350,040 553,732,001 (2,493,446) (668,879) 550,569,676 11,645,181 (10,236,411) 551,978,446
Investments (As per Schedule-8A & 8B)
21,431,128
5,463,364
Fair Value Change Account
(1,872,746)
(620,700)
Revaluation Reserve
(334,438)
(334,441)
Net Investments
19,223,944
4,508,223
Current Assets and Loans (As per Note 3.17 & 3.18)
551,390
139,092
Less: Current Liabilities (As per Note 3.17 & 3.18)
(26,585)
(33,471)
Total Assets [B]
19,748,749
4,613,844
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financial Report
3.22
Employee benefits Provision for staff benefits as per revised AS 15: (a) Defined Contribution Plans: The amount recognised as an expense during the year is ` 232,380 thousand (Previous year ` 275,390 thousand) (b) Defined Benefit Plans:
(` 000)
Particulars Change in Defined Benefit Obligation: Opening obligations as at April 1 Service cost Interest cost Actuarial (gain)/loss Past service costs Liability assumed on acquisition Benefits paid Present value of the defined benefit obligations at March 31 (A) Change in Plan Asset: Opening plan assets, at fair value as at April 1 Expected return on plan assets Actuarial gain/(loss) Contributions Assets acquired on acquisition Benefits paid Fair value of plan assets at March 31 (B) Cost for the year: Service cost Interest cost Expected return on plan assets Actuarial (gain)/loss Past service cost Losses/(Gains) on Acquisition/Divestiture Total net cost recognised as employee remuneration Reconciliation of Benefit Obligations and Planned Assets for the period: Present value of the defined benefit obligations at March 31 (A) Fair value of plan assets at March 31 (B) Unrecognised past service cost (C) Net asset/(liability) as at March 31 recognised in Balance Sheet (B+C-A) Investment details of plan assets: The plan assets are invested in insurer managed funds. Assumptions: Discount rate Salary escalation rate: Grade III and above Year 1 Year 2 to 3 Year 4 to 6 Year 7 onwards Grade I and II Estimated rate of return on plan assets
Year ended March 31, 2011 March 31, 2010 2,61,481 54,039 17,911 29,296 (28,667) (5,492) 328,568 233,791 18,055 (20,827) 109,375 (24,588) (5,492) 310,314 54,039 17,911 (18,055) 50,123 10,216 (4,078) 110,156 328,568 310,314 19,994 1,740 151,491 34,643 9,641 6,257 98,554 2,856 (41,961) 261,481 35,934 2,444 4,158 230,360 2,856 (41,961) 233,791 34,643 9,641 (2,444) 2,099 68,343 112,282 261,481 233,791 30,210 2,520
7.59%
6.10%
10.00% 8.00% 7.00% 5.00% 5.00% 7.50%
10.00% 8.00% 7.00% 5.00% 5.00% 7.50%
282

3.23 Employee Stock Option Scheme (ESOS) There are presently six ESOS schemes in force by name Founder I, Founder II, 2004-05, 2005-06, 2006-07 and 2007-08, salient features of which are as stated below:
Founder I Date of allotment No. of options granted March 28, 2005 2,665,500 2004-05 April 25, 2005 3,742,400 2005-06 April 26, 2006 4,633,250 2006-07 Founder II April 24, 2007 6,534,675 (2006-07) 470,000 (Founder II) Graded Vesting Period 1st Year 2nd Year 3rd Year 4th Year Maximum term of options granted Mode of settlement 50% of options granted 25% of options granted 25% of options granted 25% of options granted 25% of options granted 25% of options granted 25% of options granted 25% of options granted 25% of options granted 25% of options granted 25% of options granted 25% of options granted 25% of options granted 25% of options granted 25% of options granted 25% of options granted 25% of options granted 25% of options granted 25% of options granted 2007-08 April 25, 2008 6,074,000
Later of the tenth anniversary of the date of grant of options or the fifth anniversary of the date of vesting of options Equity
Exercise price of options is subject to dilution formula and it depends on the capital base of the Company as at the date of exercise of the options. Exercise price of all the options outstanding as at March 31, 2011 for Founder I (2003-04) scheme, 2004-2005 scheme, 2005-06 scheme, 2006-07 scheme, Founder II and 2007-08 scheme is ` 30, ` 42, ` 70, ` 130, ` 130 and ` 400 respectively. A summary of status of Companys Employee Stock Option Scheme in terms of options granted, forfeited and exercised is given below: Particulars Outstanding at the beginning of the year Add: Granted during the year Less: Forfeited/lapsed during the year Exercised during the year March 31, 2011 14,827,086 943,666 318,266 13,565,154 8,768,885 March 31, 2010 16,609,012 896,336 885,590 14,827,086 5,614,986
Outstanding at the end of the year Exercisable at the end of the year
During the year, the Company has recognised a compensation cost of ` Nil (Previous year: ` Nil) as the intrinsic value of the options. Had the Company followed the fair value method for valuing its options for the year, the charge to the Revenue and Profit & Loss Account would have been higher by ` 90,918 thousand (Previous year: ` 175,126 thousand) and profit after tax would have been ` 7,985,310 thousand (Previous year: ` 2,404,599 thousand). Consequently Companys basic earnings per share would have been ` 5.59 (Previous year: (` 1.69)) and diluted earnings per share would have been ` 5.57 (Previous year: (` 1.68)). The weighted average price of options exercised during the year is ` 65.18 (Previous year: ` 67.95). The weighted average remaining contractual life of options outstanding at the end of the period is 6.11 years (Previous year: 7 years).
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financial Report
The Key assumptions used to estimate fair value of options are: Risk-free interest rate Expected life Expected volatility Expected dividend yield 6.87%8% 35 years 28.65% 1.50%
3.24 Foreign exchange gain/(loss): The amount of foreign exchange gain (net) credited to Revenue and Profit and Loss Account is ` 1,082 thousand (Previous year: ` 2,456 thousand) 3.25 Earnings per equity share:
(` 000)
Particulars I Net profit/(loss) after tax as per profit and loss account available for equity shareholders for both basic and diluted earnings per equity share of ` 10 each Weighted average number of equity shares for earnings per equity share (a) (b) For basic earnings per equity share For diluted earnings per equity share
March 31, 2011 8,076,228
March 31, 2010 2,579,685
II
1,428,225,507 1,428,225,507
1,427,278,700 1,427,278,700
Number of equity shares for basic earnings per equity share as per (ii) (a) Add: Weighted average outstanding employee stock options deemed to be issued for no consideration Weighted number of equity shares for diluted earnings per equity share III Earnings per equity share Basic (in `) Diluted (in `) 5.65 5.64 1.81 1.80 4,358,826 1,432,584,333 4,397,643 1,431,676,343
3.26 Funds for Future Appropriations (FFA) Linked The cumulative balance of FFA as at March 31, 2011 of ` 5,935,592 thousand (Previous year ` 10,931,565 thousand) is not available for distribution to shareholders. Such amount is classified under Funds for Future appropriations Linked, in the Balance Sheet. 3.27 The Micro, Small and Medium Enterprises Development Act, 2006 There are no dues payable to vendors covered by the Micro, Small and Medium Enterprises Development Act, 2006, as at March 31, 2011. 3.28 Additional disclosures on expenses The additional disclosures on expenses pursuant to IRDA notification dated March 28, 2008 have been detailed herein below:
(` 000)
Particulars Outsourcing expenses Business development expenses Market support expenses
March 31, 2011 1,644,039 1,443,497 1,279,817
March 31, 2010 1,657,547 1,520,211 3,071,880
284

3.29 Disclosures on fines and penalties The additional disclosures with respect to fines and penalties for penal actions pursuant to IRDA circular dated May 7, 2009 have been detailed herein below:
(` 000)
Penalty levied Sl No. 1 2 3 4 5 6 Authority Non-compliance/ violation NIL NIL NIL NIL NIL NIL March 31, 2011 March 31, 2010
Insurance Regulatory and Development Authority Service Tax Authorities Income Tax Authorities Any other Tax Authorities Enforcement Directorate/Adjudicating Authority/Tribunal or any Authority under FEMA Registrar of Companies/National Company Law Tribunal/ Company Law Board/Department of Corporate Affairs or any Authority under Companies Act, 1956 Penalty awarded by any Court/Tribunal for any matter including claim settlement but excluding compensation Competition Commission of India Any other State/Central/Local Government/Statutory Authority
7 8 9
NIL NIL Shop and Establishment Act Equal Remuneration Act Electricity Act Contract Labour (Regulation and Abolishment) Act Profession Tax Act Industrial Dispute Act Maternity Benefit Act Payment of Gratuity Act
22
121 8 19 4
16 9 47
9 2 163
Total
3.30 Disclosures on other work given to auditors Pursuant to clause 7.1 (g) of Corporate Governance Guidelines issued by IRDA on August 5, 2009 the services of the statutory auditor are disclosed below:
(` 000)
Name of the auditor Walker, Chandiok & Co
Service rendered Tax Audit
Amount 234
3.31 Discontinued Policy Fund Pursuant to IRDAs notification dated July 01, 2010, the following details are disclosed with respect to the policies discontinued either on customer request or for non payment of premium amount within the grace period:
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financial Report
i) Movement in funds for discontinued policies:
(` 000)
Opening balance as on April 01, 2010 Add: Amount transferred to funds for discontinued policies Less: Amount refunded to policyholders Closing balance as on March 31, 2011 ii) No. of policies discontinued during the year ended March 31, 2011: 28 iii) Percentage of discontinued to total policies (product wise) during the year ended March 31, 2011 Product Name Lifestage Wealth II
138 138
Percentage of discontinued to total policies 0.05%
iv) No. and percentage of policies revived during the year ended March 31, 2011: NIL v) Charges imposed on account of discontinued policies during the year ended March 31, 2011: ` 30 thousands 3.32 Previous year comparatives Previous year figures have been regrouped and reclassified wherever necessary, to conform to current year presentation.
____________________ Sanaulla Khan Company Secretary
286
Receipts & Payments Account

For the year ended March 31, 2011
Particulars CASH FLOWS FROM OPERATING ACTIVITIES Cash receipts from customers : Premium and other receipts Cash paid towards operating activities : Expenses and withdrawals Reinsurance premium ceded Advances and deposits Loan against policies Taxes paid Net cash from operating activities (A) CASH FLOWS FROM INVESTING ACTIVITIES Sale of fixed assets Purchase of fixed assets Purchase of investments Return of loan Sale of investments Interest and dividend received Net cash from investing activities (B) CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from issuance of share capital Share premium on capital issued Net cash used in financing activities (C) Net increase/(decrease) in cash and cash equivalents (A+B+C) Cash and cash equivalents at beginning of the year Cash and cash equivalents at end of the year Note: Cash and cash equivalents at the end of the period Cash (Including cheques in hand and stamps in hand) Bank Balances and Money at call and short notice [Including bank balance for linked business of ` 11,454 thousands (Previous Year: ` 46,414 thousands)] Other short term liquid investment [Forming part of investments in financials] 3,820 (125,754) (160,326,657) (762,294) (330,776)
(` 000)
March 31, 2011
March 31, 2010
208,661,759 (117,724,065) (418,054) 59,913 (35,365) (34,516)
184,357,276
(161,419,727) 47,242,032
(118,152,087) 66,205,189
(121,934) (4,850,826,197) 4,777,428,275 15,817,594 (57,702,262) 2,619 17,663 20,282 (10,439,948) 25,838,346 15,398,398
5,103 (113,256)
(108,153) (4,712,960,480) 117,116 4,634,715,939 11,993,233 (66,242,345) 7,641 51,582 59,223 22,066 25,816,280 25,838,346
2,314,279 1,000,374
2,195,978 870,739
12,083,746 15,398,399
22,771,629 25,838,346
As per our report of even date attached. For Walker, Chandiok & Co Chartered Accountants Firm Registration No. 001076N For B S R & Co. Chartered Accountants Firm Registration No. 101248W Avijit Chatterjee Appointed Actuary Sanaulla Khan Company Secretary For and on behalf of the Board of Directors
Khushroo B. Panthaky Akeel Master Partner Partner Membership No. F-42423 Membership No. 046768
Chanda Kochhar Chairperson Sandeep Bakhshi Managing Director & CEO Puneet Nanda Executive Director
Keki Dadiseth Director K. Ramkumar Director
287
financial Report
Summary of Financial Statement

(` lakhs)
Sr. No. 1 2 3 4
Particulars POLICY HOLDERS A/C Gross premium income Net premium income # Income from investments (Net)@ Other income (Pl.specify) Contribution from the Shareholders a/c Fees and Charges Total income Commissions Brokerage Operating expenses related to insurance busines Provisions for tax Total Expenses Payment to policy holders * Increase in actuarial liability Transfer to Linked Fund *** Surplus/Deficit from operations SHAREHOLDERS A/C Total income under Shareholders Account Profit /(loss) before tax Provisions for tax Profit/ (loss) after tax Profit /(loss) carried to Balance sheet MISCELLANEOUS (A) Policyholders account: Total funds ** Total Investments ^ Yield on investments (%) (B) Shareholders account : Total funds Total Investments Yield on investments (%) Yield on total investments Paid up equity capital Net worth Total Assets Earnings per share Basic earnings per share (`) Diluted earnings per share (`) Book value per share (`) Net of reinsurance Net of losses Inclusive of interim bonuses,if any Includes Provision for linked liabilities Includes Assets held to cover linked liabilities Represents increase in Unit reserve
2010-11
2009-10
2008-09
2007-08
2006-07
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
1,788,063 1,781,698 623,153 14,618 13,590 1,028 2,419,469 56,068 218,739 274,807 1,059,172 (229,822) 1,245,332 69,980 10,586 83,250 (2,488) 80,762 (271,087)
1,652,875 1,647,583 1,757,996 53,284 52,550 735 3,458,864 60,297 256,915 (305) 316,907 721,004 59,062 2,232,121 129,770 3,124 28,053 (2,256) 25,797 (351,849)
1,535,622 1,531,819 (614,712) 95,051 94,857 194 1,012,158 69,999 273,873 2,114 345,985 220,661 64,412 359,807 21,293 3,527 (88,070) 10,100 (77,970) (377,646)
1,356,106 1,353,677 292,318 160,948 160,635 313 1,806,942 81,097 291,994 2,896 375,986 201,493 58,897 1,138,055 32,511 6,226 (154,314) 14,808 (139,506) (299,676)
791,299 789,682 98,906 75,816 75,800 16 964,404 52,551 152,296 1,226 206,073 72,750 64,314 607,664 13,602 6,779 (69,167) 4,276 (64,891) (160,170)
6,441,896 6,604,373 10% 208,485 197,647 6% 10% 142,846 208,485 6,747,606 5.65 5.64 14.60
5,428,166 5,592,583 40% 126,762 128,503 3% 39% 142,814 126,762 5,678,180 1.81 1.80 8.88
3,110,655 3,203,037 (20%) 100,442 66,201 8% (20%) 142,726 100,442 3,282,853 (5.50) 7.04
2,702,056 2,831,546 13% 77,856 21,102 34% 13% 140,111 77,856 2,833,708 (10.28) 5.56
1,497,502 1,559,443 8% 50,103 15,672 11% 8% 131,230 50,103 1,569,090 (5.28) 3.82
21 22 23 24 25
26 # @ * ** ^ ***
288
Accounting Ratios
Sr No. 1 Particulars New business premium income growth (segmentwise) Participating Life # Participating Pension # Non Participating Annuities Non Participating Health Linked Life Linked Pension Linked Health Linked Group Net retention ratio (Net premium divided by gross premium) Ratio of expenses of management (Expenses of management inclduing commission divided by the total gross direct premium) Commission Ratio (Gross commission paid to Gross premium) Ratio of policyholders liabilities to shareholders funds Growth rate of shareholders fund Ratio of surplus to policyholders liability Par Life Par Pension Par Group Life # Par Group Pension # Non Par Annuity Non Par Linked Life Linked Pension Change in networth (` 000) Profit after tax / Total income (Total Real Estate + Loans) / Cash & invested assets Total Investment / (Capital + Surplus) Total Affiliated Investment / (Capital+Surplus)
March 31, 2011
March 31, 2010
920.8% 13875.8% 339.0% 2.4% (59.9%) 91.2% (45.2%) (55.5%) 19.5% 99.6% 15.4%
(9.7%) (4.0%) (29.1%) (44.8%) (73.8%) (29.1%) 17.8% 158.4% (21.7%) 99.7% 19.2%
2 3
4 5 6 7
3.1% 3136.5% 64.5% 2.7% 3.6% NA NA 1.1% 1.1% 8,172,296 3.3% 0.3% 1420.3% 11.0%
3.6% 4379.4% 26.2% 2.9% 7.8% 7.8% 8.1% 10.0% 1.5% 3.4% 2,631,980 0.8% 0.3% 1195.1% 19.4%
8 9 10 11 12
# During the year par group life and par group pension were merged with par life and par pension respectively for better presentation
289
financial Report
Statement showing the Controlled Fund

of ICICI Prudential Life Insurance Company Limited
Sr. No. 1 Particulars Computation of Controlled fund as per the Balance Sheet Policyholders Fund (Life Fund) Participating Individual Assurance Individual Pension Non-participating Individual Assurance Group Assurance Individual Annuity Health Linked Individual Assurance Group Assurance Individual Pension Group Superannuation & Gratuity Health Funds for Future Appropriations Total (A) Shareholders Fund Paid up Capital Reserves & Surpluses Fair Value Change Total (B) Misc. expenses not written off Credit / (Debit) from P&L A/c. Total (C) Total shareholders funds (B+C) Controlled Fund (Total (A+B-C)) 2 Reconciliation of the Controlled Fund from Revenue and Profit & Loss Account Opening Balance of Controlled Fund Add: Inflow Premium Income Less: Reinsurance ceded Net Premium Investment Income Other Income Funds transferred from Shareholders Accounts Total Income Less: Outgo (i) Benefits paid (Net) (ii) Interim Bonus Paid (iii) Change in Valuation of Liability (iv) Commission (v) Operating Expenses (vi) Provision for Taxation (a) FBT (b) I.T. Total Outgo Surplus of the Policyholders Fund 56,782 17,881 (64) 17,817 6,232 10 136 24,195 10,591 1 10,155 561 2,187 92 23,587 608 32,828 16,532 (53) 16,479 17,580 4 525 34,588 7,210 22,912 603 2,569 (3) 33,291 1,297 2,889 1,347 627 778 29 29,850 24,098 4,592 210 972 65,392 1,428 3,361 7 4,796 (2,711) (2,711) 2,085 67,477 2,104 517 376 677 6 27,572 19,159 3,747 124 1,232 55,514 1,428 3,359 (1) 4,786 (3,518) (3,518) 1,268 56,782
(` In crores)
2010-2011
2009-2010
290
Sr. No.
Particulars Less: transferred to Shareholders Account Net Flow in Policyholders account Add: Net income in Shareholders Fund Net In Flow / Outflow Add: change in valuation Liabilities Add: Increase in Paid up Capital Closing balance of controlled fund as per cash flow Change in fair value change & revaluation reserve account Closing balance of controlled fund As per Balance Sheet Difference, if any
2010-2011 868 (260) 808 548 10,155 2 67,487 (10) 67,477 67,477
2009-2010 783 514 258 772 22,912 7 56,519 263 56,782 56,782
3 3.1
Reconciliation with Shareholders and Policyholders Fund Policyholders Funds Policyholders Funds - Traditional-PAR and NON-PAR Opening Balance of the Policyholders Fund Add: Surplus of the Revenue Account Add: change in valuation Liabilities Total as per cash flow Change in fair value change & revaluation reserve account Total As per Balance Sheet Difference, if any 3,819 (9) 2,007 5,817 (17) 5,800 5,800 51,695 (251) 8,148 59,592 59,592 1,268 808 2 2,078 7 2,085 2,085 3,033 (19) 542 3,556 263 3,819 3,819 28,791 534 22,370 51,695 51,695 1,004 258 7 1,269 (1) 1,268 1,268
3.2
Policyholders Funds - Linked Opening Balance of the Policyholders Fund Add: Surplus of the Revenue Account Add: change in valuation Liabilities Total As per Balance Sheet Difference, if any Shareholders Funds Opening Balance of Shareholders Fund Add: net income of Shareholders account (P&L) Add: Infusion of Capital Closing Balance of the Shareholders fund as per cash flow Change in fair value change Closing Balance of the Shareholders fund As per Balance Sheet Difference, if any
291
financial Report
Statement pursuant to Section 212

March 31, 2011 1 Name of subsidiary company
of the Companies Act, 1956, relating to subsidiary companies

March 31, 2010 ICICI Prudential Pension Funds Management Company Limited March 31, 2010 11,000,000 equity shares of ` 10/- each fully paid up 100.0% ICICI Prudential Pension Funds Management Company Limited March 31, 2011 11,000,000 equity shares of ` 10/- each fully paid up 100.0%
2 3
Financial year of subsidiary ended on No. of equity shares held by ICICI Prudential Life Insurance Company Limited and/or its nominees in the subsidiary as on March 31, 2011 Extent of interest of ICICI Prudential Life Insurance Company Limited in capital of subsidiary The net aggregate amount of profits/(losses) of the subsidiary so far as it concerns the members of ICICI Prudential Life Insurance Company Limited and and is not dealt with in the accounts of ICICI Prudential Life Insurance Company Limited (` In 000) for the financial year ended March 31, 2011 for the previous financial years of the subsidiary since it became a subsidiary
4 5
(2.16) (137.46)
(137.46) Not applicable
The net aggregate amount of profits/(losses) of the subsidiary so far as it concerns the members of ICICI Prudential Life Insurance Company Limited dealt with in the accounts of ICICI Prudential Life Insurance Company Limited (` In 000) for the financial year ended March 31, 2011 for the previous financial years of the subsidiary since it became a subsidiary NIL Not applicable NIL Not applicable
____________________ Avijit Chatterjee Appointed Actuary ____________________ Sanaulla Khan Company Secretary Place: Mumbai Date: April 21, 2011
For & on behalf of the Board of Directors ____________________ Chanda Kochhar Chairperson ____________________ Sandeep Bakhshi Managing Director & CEO ____________________ Puneet Nanda Executive Director ____________________ Keki Dadiseth Director ____________________ K. Ramkumar Director
292
Consolidated financial statements of ICICI Prudential Life Insurance Company Limited and its subsidiary
financial Report
Auditors Report
To the Directors of ICICI Prudential Life Insurance Company Limited 1. We have audited the attached Consolidated Balance Sheet of ICICI Prudential Life Insurance Company Limited (the Company) and its subsidiary (together termed as the Group), as at March 31, 2011 the related Consolidated Revenue Account, the Consolidated Profit and Loss Account and the Consolidated Receipts and Payments Account for the year ended on that date annexed thereto (collectively referred as the Consolidated Financial Statements), which we have signed under reference to this report. These Consolidated Financial Statements are the responsibility of the Companys management. Our responsibility is to express an opinion on these financial statements based on our audit. 2. We conducted our audit in accordance with auditing standards generally accepted in India. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. 3. We report that the Consolidated Financial Statements have been prepared by the Group in accordance with the requirements of Accounting Standard 21, Consolidated Financial Statements as notified under the Companies (Accounting Standards) Rules, 2006. 4. Further to our comments above, we report that in our opinion and to the best of our information and according to the explanations given to us: (a) We have obtained all the information and explanations which, to the best of our knowledge and belief, were necessary for the purpose of our audit and have found them to be satisfactory; (b) In our opinion and to the best of our information and according to the explanations given to us, proper books of account as required by law have been maintained by the Group, so far as appears from our examination of those books; (c) The Consolidated Financial Statements referred to in this report are in agreement with the books of account; (d) The actuarial valuation of liabilities for life policies in force is the responsibility of the Companys Appointed Actuary (the Appointed Actuary). The actuarial valuation of these liabilities as at March 31, 2011 has been duly certified by the Appointed Actuary and in his opinion, the assumptions for such valuation are in accordance with the guidelines and norms issued by the Insurance Regulatory and Development Authority (IRDA) (Authority) and the Actuarial Society of India in concurrence with the Authority. We have relied upon Appointed Actuarys certificate in this regard for forming our opinion on the Consolidated Financial Statements of the Group;
294

(e) The Consolidated Financial Statements dealt with by this report comply with the Accounting Standards referred to in sub-section (3C) of section 211 of the Companies Act, 1956 and the Rules framed there under to the extent they are not inconsistent with the accounting principles prescribed in Insurance Regulatory and Development Authority (Preparation of Financial Statements and Auditors Report of Insurance Companies) Regulations, 2002 (the Regulations) and orders / directions issued by Insurance Regulatory and Development Authority (IRDA) in this regard; (f) The Consolidated Financial Statements together with the selected explanatory notes thereon and attached thereto are prepared in accordance with the requirements of the Regulations, the Insurance Act, 1938, the Insurance Regulatory and Development Authority Act, 1999 and the Companies Act, 1956, to the extent applicable and in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India: i. in the case of the Consolidated Balance Sheet, of the state of affairs of the Group as at March 31, 2011; ii. in the case of Consolidated Revenue Account, of the net surplus for the year ended on that date; iii. in the case of Consolidated Profit and Loss account, of the profit for the year ended on that date; and iv. in the case of the Consolidated Receipts and Payments Account, of the receipts and payments for the year ended on that date. For Walker, Chandiok & Co Chartered Accountants Firms Registration No: 001076N per Khushroo B. Panthaky Partner Membership No: F-42423 Mumbai April 21, 2011 For B S R & Co. Chartered Accountants Firms Registration No: 101248W Akeel Master Partner Membership No: 046768 Mumbai April 21, 2011
295
financial Report
Consolidated Revenue Account

Particulars Premiums earned net (a) Premium (b) Reinsurance ceded Income from Investments (a) Interest, Dividend & Rent - Gross (b) Profit on sale/redemption of investments (c) Loss on sale/redemption of investments (d) Unrealised gain/(loss) (e) Appropriation / Expropriation Adjustment Account Other income: Contribution from the Shareholders' account Fees and charges Miscellaneous income Total (A) Commission Operating expenses related to Insurance business Provision for taxation (Fringe benefits tax) Total (B) Benefits paid (Net) Interim Bonus Paid Change in valuation of liability in respect of life policies Total (C) SURPLUS/ (DEFICIT) (D) =(A)-(B)-(C) Provision for taxation Tax credit / (charge) - Refer note 3.5 of schedule 16 SURPLUS/ (DEFICIT) AFTER TAX APPROPRIATIONS Transfer to Shareholders' account Balance being funds for future appropriations Total (D) FUNDS FOR FUTURE APPROPRIATION Opening Balance as at April 1, 2010 Add: Current year appropriations Balance Carried forward to Balance Sheet Significant Accounting Policies & Notes to Accounts DETAILS OF TOTAL SURPLUS (a) (b) (c) Interim bonuses paid Allocation of bonus to policyholders' Surplus shown in the Revenue Account 16 Par Life # 2,581 653,856 62,626 719,063 Par Pension # 2,969 193,309 31,877 228,155 932,996 (109,837) 823,159 459,604 17,073 476,677 6,451,308 (1,877,058) 4,574,250 4,480,257 (632,317) 3,847,940 12,324,165 (2,602,139) 9,722,026 72,937 (109,837) (36,900) 14,804 17,073 31,877 5,259,560 (1,877,058) 3,382,502 3,330,880 (632,317) 2,698,563 8,678,181 (2,602,139) 6,076,042 4 2 3 Schedule Par Life # Par Pension # Non Par 1 7,840,920 (1,996) 1,605,801 1,794,343 (906,655) 39,671 2,040 10,374,124 494,407 1,050,628 1,545,035 760,086 2,581 8,003,796 8,766,463 62,626 (99,526) (36,900) 7,921,841 (47) 414,073 403,230 (203,395) 2,098 57 8,537,857 7,945 9,674 17,619 154,390 2,969 8,331,002 8,488,361 31,877 31,877 5,374,339 (292,719) 338,692 56,066 (28,955) 493,964 1,950 562 5,943,899 962,641 2,178,472 3,141,113 383,459 2,498,680 2,882,139 (79,353) 79,353
(` 000)
Annuity Non Par 859,725 569,206 61,167 (30,592) 106,608 48 1,566,162 3,605 35,768 39,373 534,047 1,009,868 1,543,915 (17,126) 17,126 Health Linked Life Linked Pension 65,448,645 (257) Linked Health 1,570,863 (219,950) 52,755 176,870 (102,804) 4,245 2,194 151,947 48 831 1,636,999 107,427 601,286 708,713 86,236 866,460 952,696 (24,410) 24,410 Linked Group 11,466,184 (497) 2,687,188 2,623,263 (1,432,946) (560,056) 5,952 411,555 1,304 15,201,947 17,700 408,551 426,251 6,387,937 8,453,873 14,841,810 (66,114) 66,114 Total
331,795 (79,560)
77,991,978 (41,502)
178,806,290 (636,528) 19,021,397 133,822,397 (69,571,922) (20,791,784) (164,764) 1,359,021 64,543 38,255 241,946,905 5,606,759 21,873,948 27,480,707 105,911,669 5,550 101,550,999 207,468,218 6,997,980 (921,938) 6,076,042
9,748 7,410,226 5,933,708 1,352 83,914,715 44,791,391 (676) (43,470,976) (23,394,923) (15,746,358) (4,489,615) (327,611) 154,701 194,947 1,018 251 18,872 18,817 886 14,345 88,458,881 1,751,092 7,900,160 9,651,252 26,748,632 49,360,434 76,109,066 2,698,563 2,698,563
458,875 109,768,161 25,767 152,144 177,911 86,737 225,544 312,281 (31,317) 31,317 2,236,175 9,537,265 11,773,440 70,770,145 22,801,342 93,571,487 4,423,234 (1,040,732) 3,382,502
TOTAL SURPLUS
As required by Section 40-B(4) of the Insurance Act, 1938 we certify that all expenses of Management in respect of life insurance business in India incurred by the Company have been fully debited to the Policyholder's Revenue Account as expenses. Schedules referred to herein form an integral part of the Policyholders' Revenue Account. # During the year Par Group Life and Par Group Pension were merged with Par Life and Par Pension respectively for better presentation As per our report of even date attached For Walker, Chandiok & Co Chartered Accountants Firm Registration No. 001076N Khushroo B. Panthaky Partner Membership No. F-42423 For B S R & Co. Chartered Accountants Firm Registration No. 101248W Akeel Master Partner Membership No. 046768 Avijit Chatterjee Appointed Actuary For and on behalf of the Board of Directors
296
Consolidated Revenue Account

For The Year Ended March 31, 2010
Particulars Premiums earned net (a) Premium (b) Reinsurance ceded Income from Investments (a) Interest, Dividend & Rent - Gross (b) Profit on sale/redemption of investments (c) Loss on sale/redemption of investments (d) Unrealised gain/(loss) (e) Appropriation / Expropriation Adjustment Account Other income: Contribution from the Shareholders account Fees and charges Miscellaneous income Total (A) Commission Operating expenses related to Insurance business Provision for taxation (Fringe benefit tax) Total (B) Benefits paid (Net) Interim Bonus Paid Change in valuation of liability in respect of life policies Total (C) SURPLUS/ (DEFICIT) (D) =(A)-(B)-(C) APPROPRIATIONS Transfer to Shareholders account Balance being funds for future appropriations Total (D) FUNDS FOR FUTURE APPROPRIATION Opening Balance as at April 1, 2009 Add: Current year appropriations Balance Carried forward to Balance Sheet Significant Accounting Policies & Notes to Accounts 16 1,259,163 (326,167) 932,996 323,563 136,041 459,604 95,306 (326,167) (230,861) 30,049 136,041 166,090 29 29 374,286 374,286 4 2 3 30,968 340 4,966,647 209,180 486,211 (799) 694,592 597,605 425 3,904,886 4,502,916 (230,861) 1,916 11 795,635 8,249 15,005 (10) 23,244 177,131 42 429,128 606,301 166,090 346 24,531 136 136 24,395 24,395 56,342 212 212 56,101 56,101 29 2,315 427 1,806,260 114,457 612,990 (251) 727,196 638,599 66,179 704,778 374,286 Schedule Par Life # Par Pension # 441,137 (62) 323,711 29,336 (414) Par Group Life # 22,500 1,278 433 (26) Par Group Pension # 51,567 3,210 1,591 (26) 1 3,619,912 (2,468) 1,225,161 97,056 (4,322) Non Par
(` 000)
Annuity Non Par 839,225 520,611 202,657 (357) 3 1,562,139 356 5,938 (3) 6,291 495,864 958,392 1,454,256 101,592 Health Linked Life Linked Pension 74,274,454 (229) 3,466,433 11,202,578 (1,767,923) 44,847,685 35,212 4,194,973 1,508 6,860 Linked Health 1,391,184 (149,408) 33,728 110,204 (6,270) 61,989 1,546 790,226 4 727 Linked Group Total
1,620,135 (210,022) 313,428 80,353 (376)
489,262 (115,281) 10,597 2,699 111,106 1,303 204
72,945,645 (51,367) 5,881,258 26,229,335 (4,286,547) 82,944,216 (328,354) 19,129 7,536
9,592,520 165,287,541 (374) (529,211) 1,837,037 13,616,452 1,362,045 39,318,287 (280,741) (6,347,002) 1,628,240 129,482,130 21,362 (270,234) 158,319 203 5,254,970 57,143 16,311
499,890 183,360,851 136,261,551 78,232 293,409 (199) 371,442 2,876,168 11,010,235 (23,338) 13,863,065 2,576,225 11,850,695 (5,549) 14,421,371
2,233,930 14,318,611 345,886,387 166,735 1,114,160 (336) 1,280,559 76 302,542 302,618 6,029,678 25,691,533 (30,485) 31,690,726
143,981 55,262,417 12,701,367 (15,533) 104,644,851 106,163,465 128,448 159,907,268 118,864,832 9,590,518 2,975,348
50,678 2,032,261 72,099,903 467 902,693 11,983,732 229,118,289 953,371 14,015,993 301,218,659 12,977,002
101,592 101,592
7,224,912 2,365,606 9,590,518
2,975,348 2,975,348
7,826,174 5,150,828 12,977,002
4,085,702 2,365,606 6,451,308
1,504,909 2,975,348 4,480,257
7,173,337 5,150,828 12,324,165
Selected explanatory notes attached herewith form an integral part of the Revenue Account. DETAILS OF TOTAL SURPLUS (a) (b) (c) Interim bonuses paid Allocation of bonus to policyholders Surplus shown in the Revenue Account Par Life # 425 857,326 (230,861) 626,890 Par Pension # 42 270,401 166,090 436,533 Par Group Life # 1,896 1,896 Par Group Pension # 4,534 29 4,563
TOTAL SURPLUS
As required by Section 40-B(4) of the Insurance Act, 1938 we certify that all expenses of Management in respect of life insurance business in India by the Company have been fully debited to the Policyholders Revenue Account as expenses. Schedules referred to herein form an integral part of the Policyholders Revenue Account. # During the year Par Group Life and Par Group Pension were merged with Par Life and Par Pension respectively for better presentation
297
financial Report
Consolidated Profit & Loss Account

Particulars Shareholders Account (Non-Technical Account) Amounts transferred from Policyholders' account - net (Technical account) Income from investments (a) Interest, Dividend & Rent - Gross (b) Profit on sale/redemption of investments (c) Loss on sale/redemption of investments Other income Total (A) Expenses other than those directly related to the insurance business Bad debts written-off Amounts transferred to Policyholders' account (Technical account) Provisions (other than taxation) (a) For diminition in value of investments (net) (b) Provision for doubtful debts Total (B) Profit / (Loss) before Tax (A-B) Provision for Taxation Tax credit / (charge) - Refer note 3.5 of schedule 16 Profit / (Loss) after Tax APPROPRIATIONS (a) (b) (c) (d) (e) Balance at the beginning of the year Interim dividends paid during the year Proposed final dividend Dividend distribution tax Transfer to reserves / other accounts (35,185,055) (27,108,828) 16 5.65 5.64 10.00 1.81 1.80 10.00 (37,764,603) (35,185,055) 3A (` 000) Schedule March 31, 2011 7,319,160 933,299 138,753 (5,422) 8,385,790 60,287 60,287 8,325,504 (87) (249,190) 8,076,227 March 31, 2010 2,571,204 228,686 94,070 (4,937) 2,889,023 83,922 83,922 2,805,101 (324) (225,229) 2,579,548
Profit/(Loss) carried to Balance Sheet Significant Accounting Policies & Notes to Accounts Earnings per equity share (Refer note 3.10 of schedule 16) Basic earnings per equity share (`) Diluted earnings per equity share (`) Nominal value per equity share (`)
Schedules referred to herein form an integral part of the Shareholders Account. As per our report of even date attached For Walker, Chandiok & Co Chartered Accountants Firm Registration No. 001076N Khushroo B. Panthaky Partner Membership No. F-42423 For B S R & Co. Chartered Accountants Firm Registration No. 101248W Akeel Master Partner Membership No. 046768 Avijit Chatterjee Appointed Actuary
For and on behalf of the Board of Directors
298
Consolidated Balance Sheet

as at March 31, 2011
Particulars SOURCES OF FUNDS SHAREHOLDERS FUNDS : Share capital Share application money Employees stock option outstanding Reserve and surplus Fair Value Change Account - Net Sub - Total Borrowings POLICYHOLDERS FUNDS : Fair Value Change Account - Net Revaluation reserve - Investment Property Policy liabilities Provision for linked liabilities Funds for discontinued polices Sub - Total Funds for Future Appropriations Linked Non linked Total APPLICATION OF FUNDS Investments Shareholders Policyholders Asset held to cover linked liabilities Loans Fixed assets Deferred tax asset (Refer note 3.5 of schedule 16) Current assets Cash and Bank balances Advances and Other assets Sub-Total (A) Current liabilities Provisions Sub-Total (B) Net Current Assets (C) = (A-B) Miscellaneous expenditure (to the extent not written-off or adjusted) Debit Balance in Profit & Loss Account (Shareholders' account) Total Significant Accounting Policies and Notes to Accounts
Schedules referred to herein form an integral part of the Balance Sheet. As per our report of even date attached For Walker, Chandiok & Co Chartered Accountants Firm Registration No. 001076N Khushroo B. Panthaky Partner Membership No. F-42423 For B S R & Co. Chartered Accountants Firm Registration No. 101248W Akeel Master Partner Membership No. 046768 Avijit Chatterjee Appointed Actuary
(` 000) Schedule March 31, 2011 March 31, 2010
5 6
14,284,611 503 33,606,925 65,619 47,957,658 2,315,441 668,879 58,875,524 582,329,617 138 644,189,599 5,935,592 3,786,434 701,869,283
14,281,429 1,067 897 33,588,365 (9,604) 47,862,154 2,493,446 668,879 35,893,280 503,761,001 542,816,606 10,931,565 1,392,600 603,002,925
8 8A 8B 9 10 11 12 13 14
19,672,662 72,171,914 588,265,347 86,945 1,985,430 1,784,417 3,395,140 3,345,002 6,740,142 15,897,344 49,060 15,946,404 (9,206,262)
12,757,838 44,565,701 514,692,566 116,048 2,634,096 2,955,545 3,143,533 2,968,765 6,112,298 15,717,355 298,867 16,016,222 (9,903,924) 35,185,055 603,002,925
15
27,108,830 701,869,283
16
For and on behalf of the Board of Directors
299
financial Report
Schedules forming part of Consolidated Financial Statements

SCHEDULE 1
PREMIUM For the year ended March 31, 2011
Particulars First year premiums Renewal premiums Single premiums Total Premium Premium Income from business written : In India Total Premium Par Life # 4,500,159 3,340,761 7,840,920 7,840,920 7,840,920 Par Pension # 7,502,509 419,332 7,921,841 7,921,841 7,921,841 Non Par 3,078,068 508,071 1,788,200 5,374,339 5,374,339 5,374,339 Annuity Non Par 859,725 859,725 859,725 859,725 Health 64,386 267,409 331,795 331,795 331,795 Linked Life 11,371,806 47,913,351 18,706,821 77,991,978 77,991,978 77,991,978 Linked Pension 18,432,055 46,676,821 339,769 65,448,645 65,448,645 65,448,645 Linked Health 511,715 1,059,148 1,570,863 1,570,863 1,570,863 Linked Group 11,466,184 11,466,184 11,466,184 11,466,184
(` 000)
Total 56,926,882 100,184,893 21,694,515 178,806,290 178,806,290 178,806,290

Particulars First year premiums Renewal premiums Single premiums Total Premium Premium Income from business written : In India Total Premium Par Life# 418,352 3,201,560 3,619,912 3,619,912 3,619,912 Par Pension# 2,115 439,022 441,137 441,137 441,137 Par Group Life# 22,500 22,500 22,500 22,500 Par Group Pension# 51,567 51,567 51,567 51,567 Non Par 324,317 511,634 784,184 1,620,135 1,620,135 1,620,135 Annuity Non Par 839,225 839,225 839,225 839,225 Health 160,678 328,584 489,262 489,262 489,262 Linked Life 15,011,190 57,213,261 721,194 72,945,645 72,945,645 72,945,645 Linked Pension 33,850,714 40,013,407 410,333 74,274,454 74,274,454 74,274,454 Linked Health 1,150,342 240,842 1,391,184 1,391,184 1,391,184 Linked Group 9,592,520 9,592,520 9,592,520 9,592,520
(` 000)
Total 60,584,295 101,948,310 2,754,936 165,287,541 165,287,541 165,287,541
# During the year Par Group Life and Par Group Pension were merged with Par Life and Par Pension respectively for better presentation
SCHEDULE 2
COMMISSION EXPENSES For the year ended March 31, 2011
Particulars Commission * Direct First year premiums Renewal premiums Single premiums Total Add: Commission on re-insurance accepted Less: Commission on re-insurance ceded Net Commission Break-up of the expenses (Gross) incurred to procure business Tied Agency Corporate Agency Brokers Referral Total Commission Par Life # 397,102 97,305 494,407 494,407 380,562 89,517 21,568 2,760 494,407 Par Pension # 419 7,526 7,945 7,945 6,095 1,647 52 151 7,945 Non Par 945,700 16,319 622 962,641 962,641 748,170 167,252 41,397 5,822 962,641 Annuity Non Par 3,605 3,605 3,605 425 3,120 60 3,605 Health 17,155 8,612 25,767 25,767 18,233 6,487 738 309 25,767 Linked Life 1,183,903 704,074 348,198 2,236,175 2,236,175 1,083,565 875,074 220,583 56,953 2,236,175 Linked Pension 1,195,778 555,105 209 1,751,092 1,751,092 909,264 629,195 178,486 34,147 1,751,092 Linked Health 72,250 35,177 107,427 107,427 91,677 9,523 3,203 3,024 107,427 Linked Group 17,700 17,700 17,700 12,716 4,984 17,700
(` 000)
Total 3,830,007 1,424,118 352,634 5,606,759 5,606,759 3,250,707 1,786,799 466,087 103,166 5,606,759

Particulars Commission * Direct First year premiums Renewal premiums Single premiums Total Add: Commission on re-insurance accepted Less: Commission on re-insurance ceded Net Commission Break-up of the expenses (Gross) incurred to procure business Tied Agency Corporate Agency Brokers Referral Total Commission Par Life # Par Pension # 133 8,116 8,249 8,249 6,304 1,632 15 298 8,249 Par Group Life # Par Group Pension # Non Par Annuity Non Par 356 356 356 66 170 63 57 356 Health Linked Life Linked Pension 2,135,776 433,854 6,595 2,576,225 2,576,225 1,303,055 954,422 204,651 114,097 2,576,225 Linked Health 158,154 8,581 166,735 166,735 128,238 17,582 5,266 15,649 166,735 Linked Group 76 76 76 76 76
(` 000)
Total
114,088 95,092 209,180 209,180 154,724 38,397 11,517 4,542 209,180
95,282 18,921 254 114,457 114,457 79,906 17,738 1,829 14,984 114,457
63,876 14,356 78,232 78,232 37,441 10,093 1,756 28,942 78,232
1,863,138 1,006,705 6,325 2,876,168 2,876,168 1,427,503 1,047,321 263,203 138,141 2,876,168
4,430,523 1,585,625 13,530 6,029,678 6,029,678 3,137,313 2,087,355 488,300 316,710 6,029,678
* Commission includes referral payments # During the year Par Group Life and Par Group Pension were merged with Par Life and Par Pension respectively for better presentation
300

SCHEDULE 3
OPERATING EXPENSES RELATED TO INSURANCE BUSINESS For the year ended March 31, 2011
Particulars Employees remuneration and welfare benefits Travel, conveyance and vehicle running expenses Rents, rates and taxes Repairs Printing and stationery Communication expenses Legal and professional charges Medical fees Auditors fees : (a) as auditor (b) as advisor or in any other capacity, in respect of Taxation matters (c) others Advertisement and publicity Interest and bank charges Agents training, recruitment and incentives Depreciation Service tax on premium absorbed Information technology cost Administration support expenses Office running expenses Data entry related expenses Unit fund expenses Others Total Par Life # 433,766 26,536 65,018 27,866 44,329 55,988 43,406 10,121 1,387 30 42,592 9,924 80,482 35,264 29,469 85,999 23,533 18,107 16,811 1,050,628 Par Pension# 3,691 336 442 125 408 811 892 46 26 1 203 57 362 156 832 382 105 411 388 9,674 Non Par 877,749 57,234 200,875 91,820 49,956 35,345 48,511 21,289 1,252 27 152,532 6,438 197,161 99,720 36,063 127,350 69,858 20,485 84,807 2,178,472 Annuity Non Par 17,962 734 4,532 1,303 767 541 179 18 4 1,327 1,467 2,051 1,946 192 750 1,160 100 735 35,768 Health 66,219 2,768 19,419 5,961 1,300 13,450 2,646 2,093 126 3 1,976 384 2,820 8,580 2,920 2,654 5,825 2,728 10,272 152,144 Linked Life 3,794,692 170,505 811,740 269,872 81,932 484,088 225,659 31,337 4,867 104 434,646 100,028 622,525 325,443 127,384 544,239 225,349 119,942 836,142 326,771 9,537,265 Linked Pension 3,150,990 130,692 534,689 146,650 23,160 318,218 279,731 5,668 2,970 64 217,845 76,846 699,216 216,655 67,121 1,066,070 134,984 80,810 732,923 14,858 7,900,160 Linked Health 222,515 12,446 83,449 28,261 2,885 23,931 8,952 8,268 237 5 17,938 2,946 26,232 35,893 5,735 17,188 22,121 4,782 61,803 15,699 601,286 Linked Group 72,506 16,207 7,225 2,012 29,459 1,200 2,213 733 44,877 2,847 5 1,908 256 110,722 116,381 408,551
(` 000)
Total 8,640,090 417,458 1,727,389 573,870 234,196 933,572 612,189 78,840 10,869 234 869,792 242,967 1,630,849 726,504 269,721 1,844,632 484,843 247,621 1,741,590 586,722 21,873,948

Particulars Employees remuneration and welfare benefits Travel, conveyance and vehicle running expenses Rents, rates and taxes Repairs Printing and stationery Communication expenses Legal and professional charges Medical fees Auditors fees : (a) as auditor (b) as advisor or in any other capacity, in respect of Taxation matters (c) others Advertisement and publicity Interest and bank charges Agents training, recruitment and incentives Depreciation Service tax on premium absorbed Information technology cost Administration support expenses Office running expenses Data entry related expenses Unit fund expenses Others Total Par Life # 194,203 9,173 42,757 16,260 12,083 46,251 23,384 3,308 423 13 15 5,919 6,799 22,534 12,938 14,831 36,004 13,259 14,732 11,325 486,211 Par Pension# 5,304 264 28 341 713 3,370 1,464 35 16 1 2 29 900 53 97 888 109 275 798 318 15,005 Par Group Life # 133 1 2 136 Par Group Pension # 212 212 Non Par 235,619 12,507 55,039 18,324 21,477 44,073 16,631 14,712 476 7 9 9,404 3,355 15,754 14,947 15,310 69,465 15,340 16,000 34,541 612,990 Annuity Non Par 1,381 49 108 45 49 91 505 2 38 3,163 45 29 56 120 38 68 151 5,938 Health 137,206 6,597 24,917 8,472 6,782 24,151 9,236 4,053 228 4 5 3,521 892 6,850 6,639 7,824 13,630 6,957 7,725 17,720 293,409 Linked Life 3,444,726 176,772 1,227,526 348,939 125,642 601,059 325,389 46,038 4,378 119 137 302,835 132,107 599,138 290,629 152,726 1,147,489 303,143 166,618 1,332,828 281,997 11,010,235 Linked Pension 4,620,701 267,016 598,675 231,559 61,447 347,186 388,549 5,125 2,279 74 85 495,432 124,470 1,244,874 241,547 72,076 1,783,381 163,272 106,228 854,206 242,513 11,850,695 Linked Health 566,227 26,992 93,224 28,518 8,793 36,662 19,819 20,186 333 4 4 20,890 2,909 48,593 25,697 9,299 84,452 22,746 10,904 67,976 19,932 1,114,160 Linked Group 71,638 12,817 8,303 2,554 90,806 2,345 5,500 574 18,626 3,855 4,364 58,693 1,301 1,588 (6,108) 25,686 302,542
(` 000)
Total 9,277,350 512,187 2,050,578 655,012 327,792 1,105,190 790,477 93,457 8,135 222 257 838,642 293,221 1,941,696 596,887 273,010 3,193,343 526,331 324,661 2,248,902 634,183 25,691,533
SCHEDULE 3A
EXPENSES OTHER THAN THOSE DIRECTLY RELATED TO THE INSURANCE BUSINESS (` 000) Particulars Employees remuneration and welfare benefits Travel, conveyance and vehicle running expenses Legal and professional charges Loss on sale/write off of Fixed Assets (Net) Printing and stationery Communication expenses Interest and bank charges Depreciation Information technology cost Auditors fees and expenses Rent, rates and taxes Others Total March 31, 2011 5,316 177 6,983 45,597 44 61 1,491 395 142 82 60,287 March 31, 2010 78,836 59 3,904 7 333 21 604 158 83,922
301
financial Report
SCHEDULE 4
BENEFITS PAID [NET] For the year ended March 31, 2011
Particulars 1 (a) (b) (c) (d) Insurance claims Claims by death Claims by maturity Annuities / Pension payment Other benefits Surrender Survival Rider Health 178,940 475,146 13,536 767,970 83,963 906 154,390 92,593 3,075 14,181 595,347 534,047 214,740 216,391 69,501,301 72,045 70,770,145 25,944,126 10,488 26,748,632 186,852 188,720 6,041,825 6,387,937 101,842,748 475,146 100,050 415,773 106,363,579 86,271 14,077 11,216 58,305 470,362 15,136 15,592 518,455 1,651 965,101 231,698 756,403 37,615 1,868 346,112 2,654,576 356,831 518,455 Par Life # Par Pension # Non Par Annuity Non Par Health Linked Life Linked Pension Linked Health Linked Group
(` 000)
Total
Sub Total (A) 2 (a) (b) (c) (d) Amount ceded in reinsurance Claims by death Claims by maturity Annuities / Pension payment Other benefits Surrender Survival Rider Health
(7,884) (7,884) 760,086
154,390
(210,622) (1,266) (211,888) 383,459
534,047
(129,654) (129,654) 86,737
70,770,145
26,748,632
(102,484) (102,484) 86,236
6,387,937
(218,506) (233,404) (451,910) 105,911,669
767,970 767,970
154,390 154,390
595,347 595,347
534,047 534,047
216,391 216,391
70,770,145 70,770,145
26,748,632 26,748,632
188,720 188,720
6,387,937 6,387,937
106,363,579 106,363,579

Particulars 1 (a) (b) (c) (d) Insurance claims Claims by death Claims by maturity Annuities / Pension payment Other benefits Surrender Survival Rider Health 137,823 381,917 14,095 597,605 98,680 663 177,131 170,396 30,910 33,447 784,145 495,864 262,459 262,459 53,884,408 78,863 55,267,558 12,062,222 7,803 12,701,367 645 75,407 76,291 1,984,548 2,031,661 63,770 9,729 68,059 467,399 81,993 10,563 485,301 1,304,287 631,342 239 47,113 Par Life # Par Pension# Par Group Life# Par Group Pension# Non Par Annuity Non Par Health Linked Life Linked Pension Linked Health Linked Group
(` 000)
Total
2,534,442 150,052 485,301 68,338,077 381,917 132,979 371,313 72,394,081
Sub Total (A) 2 (a) (b) (c) (d) Amount ceded in reinsurance Claims by death Claims by maturity Annuities / Pension payment Other benefits Surrender Survival Rider Health
597,605 597,605 597,605
177,131 177,131 177,131
(145,546) (145,546) 638,599 784,145 784,145
495,864 495,864 495,864
(118,478) (118,478) 143,981 262,459 262,459
(5,141) (5,141) 55,262,417 55,267,558 55,267,558
12,701,367 12,701,367 12,701,367
(25,613) (25,613) 50,678 76,291 76,291
600 600 2,032,261 2,031,661 2,031,661
(150,087) (144,091) (294,178) 72,099,903 72,394,081 72,394,081
302

SCHEDULE 5
SHARE CAPITAL (` 000) Particulars Authorised capital Equity shares of ` 10/- each Issued, subscribed and called up capital Equity shares of ` 10/- each fully paid up Total Of the total share capital, 1,055,310,900 shares (Previous Year: 1,055,310,900) of ` 10 each are held by the holding company, ICICI Bank Limited. 14,284,611 14,284,611 14,281,429 14,281,429 15,000,000 15,000,000 March 31, 2011 March 31, 2010
SCHEDULE 5A
PATTERN OF SHAREHOLDING [As certified by the Management] Shareholder Promoters

(` 000) March 31, 2011 Number of Shares 1,055,310,900 370,732,884 2,417,365 1,428,461,149 % of Holding 73.88 25.95 0.17 100 March 31, 2010 Number of Shares 1,055,310,900 370,732,884 2,099,099 1,428,142,883 % of Holding 73.89 25.96 0.15 100
Indian (ICICI Bank Limited) Foreign (Prudential Corporation Holdings Limited)
Others Total
SCHEDULE 6
RESERVES AND SURPLUS (` 000) Particulars Capital reserves Capital redemption reserve Share premium Revaluation reserve General reserves Less: Debit balance in Profit and Loss Account, if any Less: Amount utilised for buy-back Catastrophe reserve Other reserves Balance of profit in Profit and Loss Account Total March 31, 2011 33,606,925 33,606,925 March 31, 2010 33,588,365 33,588,365
SCHEDULE 7
BORROWINGS (` 000) Particulars Debentures / Bonds Banks Financial Institutions Others Total March 31, 2011 March 31, 2010
303
financial Report
SCHEDULE 8
INVESTMENTS - SHAREHOLDERS Particulars March 31, 2011 (` 000) March 31, 2010 1,001,347 413,054
LONG TERM INVESTMENT Government Securities* 1,895,382 (Market value of current year : ` 1,880,829 thousands) (Market value of previous year : ` 1,004,652 thousands) Other Approved Securities 920,687 (Market value of current year : ` 910,848 thousands) (Market value of previous year : ` 416,810 thousands) Other Approved Investments Equity 1,690,232 (Historic value of current year : ` 1,637,042 thousands) (Historic value of previous year : ` 100,000 thousands) Debentures/Bonds 766,183 (Market value of current year : ` 762,790 thousands) (Market value of previous year : ` 101,231 thousands) CCIL Deposit 59,296 (Market value of current year : ` 59,296 thousands) (Market value of previous year : ` 59,296 thousands) Fixed Deposits 500,000 (Market value of current year : ` 500,000 thousands) (Market value of previous year : ` Nil) Investments in infrastructure / housing / social sector Debentures/ Bonds 1,287,356 (Market value of current year : ` 1,263,612 thousands) (Market value of previous year : ` 731,234 thousands) Equity 167,302 (Historic value of current year : ` 160,297 thousands) (Historic value of previous year : ` Nil) Other Investments Equity 145,650 (Historic value of current year : ` 140,224 thousands) (Historic value of previous year : ` Nil) SHORT TERM INVESTMENT Government Securities 5,229,721 (Market value of current year : ` 5,229,722 thousands) (Market value of previous year : ` 6,798,283 thousands) Other Approved Securities 713,629 (Market value of current year : ` 712,929 thousands) (Market value of previous year : ` 206,972 thousands) Other Approved Investments Debentures/Bonds 202,934 (Market value of current year : ` 204,173 thousands) (Market value of previous year : ` Nil) Fixed Deposits 454,295 (Market value of current year : ` 454,295 thousands) (Market value of previous year : ` 53,357 thousands) Certificate of Deposits 2,679,536 (Market value of current year : ` 2,679,536 thousands) (Market value of previous year : ` 2,468,645 thousands) Commercial Paper (Market value of current year : ` Nil) (Market value of previous year : ` 499,347 thousands) CBLO 117,818 (Market value of current year : ` 117,818 thousands) (Market value of previous year : ` 299,845 thousands) Mutual Fund 486,445 (Historical value of current year : ` 486,445 thousands) (Historical value of previous year : ` 829 thousands) Investments in Infrastructure / Housing / Social Sector Debentures/Bonds 1,534,810 (Market value of current year : ` 1,522,642 thousands) (Market value of previous year : ` 24,987 thousands) Commercial Papers 821,386 (Market value of current year : ` 821,386 thousands) (Market value of previous year : ` Nil) Total 19,672,662 In India 19,672,662 Total 19,672,662 * Includes ` 100,847 thousand (Market value: ` 100,444 thousands) of securities under section 7 of Insurance Act, 1938. [Previous year : ` 102,068 thousand (Market value: ` 102,809 thousands)]
90,396 100,522 59,296
725,341
6,798,057 205,249
53,357 2,468,645 499,347 299,845 18,329
25,053 12,757,838 12,757,838 12,757,838
304

SCHEDULE 8A
INVESTMENTS POLICYHOLDERS (` 000)
LONG TERM INVESTMENT Government Securities (Market value : ` 22,125,128 thousands) Other Approved Securities (Market value : ` 5,871,883 thousands) Other Approved Investments Equity (Historical value : ` 1,769,753 thousands) Debentures/ Bonds (Market value : ` 4,280,018 thousands) Property (Market value : ` 854,400 thousands) CCIL Deposit (Market value : ` 140,805 thousands) Fixed Deposits (Market value : ` 4,279,000 thousands) Investments in Infrastructure / Housing / Social Sector Equity (Historical value : ` 95,102 thousands) Debentures/ Bonds (Market value : ` 8,844,471 thousands) Other Investments Equity (Historical value : ` 147,133 thousands) Debentures/ Bonds (Market value : ` 174,010 thousands) Venture Fund (Market value : ` 674,060 thousands) SHORT TERM INVESTMENT Government Securities (Market value : ` 7,104,809 thousands) Other Approved Securities (Market value : ` 1,489,022 thousands) Other Approved Investments Debentures/ Bonds (Market value : ` 99,556 thousands) Fixed Deposits (Market value : ` 2,520,393 thousands) Certificate of Deposits (Market value : ` 5,980,546 thousands) CBLO (Market value : ` 1,063,394 thousands) Mutual Fund (Historical value : ` 274,268 thousands) Investments in Infrastructure / Housing / Social Sector Debentures/ Bonds (Market value : ` 1,042,102 thousands) Commercial Paper (Market value : ` 63,711 thousands) Total In India Total 29,331,201 29,331,201 29,331,201 13,879,971 13,879,971 13,879,971 6,230,084 6,230,084 6,230,084 7,524,309 7,524,309 7,524,309 129,341 129,341 129,341 9,216,706 9,216,706 9,216,706 4,535,894 4,535,894 4,535,894 116,252 116,252 116,252 1,208,156 1,208,156 1,208,156 72,171,914 72,171,914 72,171,914 50,346 13,365 63,711 127,898 22,364 234,059 397,011 225,480 43,449 1,050,261 54,778 33,828 39,938 13,703 96,983 426 34,612 274,268 332,543 191,589 309,595 109,061 99,912 20,693 1,063,393 1,438,600 1,641,878 338,829 1,484,683 691,983 2,433 382,140 5,980,546 405,000 1,315,393 250,000 228,101 258,785 63,113 2,520,392 48,700 4,000 38,200 7,200 1,900 100,000 83,942 19,905 945,902 317,169 13,612 112,664 1,493,194 1,146,139 2,649,510 692,438 1,510,918 797,447 9,003 299,343 7,104,798 671,551 671,551 123,738 50,000 173,738 260,684 16,525 277,209 3,764,279 1,352,007 1,116,977 1,181,587 50,498 999,725 342,355 9,506 60,560 8,877,494 137,961 35,223 4,542 177,726 1,141,500 1,275,000 524,500 356,000 521,800 352,700 107,500 4,279,000 101,607 35,211 3,986 140,804 427,200 427,200 854,400 1,904,986 715,623 396,447 702,497 15,000 316,978 161,030 60,579 40,993 4,314,133 2,711,694 1,044,178 116,623 3,872,495 3,884,213 790,823 924,561 139,602 50,224 100,664 50,332 5,940,419 10,748,091 2,405,818 1,088,518 5,035,562 2,507,942 1,148,887 7,564 22,942,382
305
financial Report
SCHEDULE 8A
INVESTMENTS - POLICYHOLDERS (` 000)
March 31, 2010 Particulars Par Life LONG TERM INVESTMENT Government Securities (Market value : ` 15,930,688 thousands) Other Approved Securities (Market value : ` 6,007,873 thousands) Other Approved Investments Equity (Historical value : ` 1,875,769 thousands) Debentures/ Bonds (Market value : ` 3,836,438 thousands) Property (Historical value : ` 185,521 thousands) CCIL Deposit (Market value : ` 140,804 thousands) Fixed Deposits (Market value : ` 50,000 thousands) Investments in Infrastructure / Housing / Social Sector Equity (Historical value : ` 33,264 thousands) Debentures/ Bonds (Market value : ` 8,167,613 thousands) Other Investments Equity (Historical value : ` 221,403 thousands) Debentures/ Bonds (Market value : ` 176,025 thousands) Venture Fund (Market value : ` 723,741 thousands) SHORT TERM INVESTMENT Other Approved Securities (Market value : ` 57,140 thousands) Other Approved Investments Debentures/ Bonds (Market value : ` 233,522 thousands) Fixed Deposits (Market value : ` 447,600 thousands) Certificate of Deposits (Market value : ` 1,583,098 thousands) CBLO (Market value : ` 18,996 thousands) Mutual Fund (Historical value : ` 654,434 thousands) Investments in Infrastructure / Housing / Social Sector Debentures/ Bonds (Market value : ` 377,941 thousands) Commercial Paper (Market value : ` 196,480 thousands) Total In India Total 21,456,519 21,456,519 21,456,519 5,530,054 5,530,054 5,530,054 4,024,154 4,024,154 4,024,154 6,740,538 6,740,538 6,740,538 148,900 148,900 148,900 4,516,836 4,516,836 4,516,836 1,497,256 1,497,256 1,497,256 95,781 95,781 95,781 555,663 555,663 555,663 44,565,701 44,565,701 44,565,701 196,480 196,480 78,267 3,006 181,048 98,189 12,497 373,007 204,278 83,499 7,495 216,392 50,012 1,284 91,473 654,433 47 7,580 11,369 18,996 942,425 200,365 291,231 129,333 19,744 1,583,098 229,800 29,700 148,500 19,800 9,900 9,900 447,600 144,257 73,094 13,006 230,357 4,818 51,689 56,507 725,800 725,800 126,025 50,000 176,025 381,540 381,540 2,980,062 852,030 1,353,323 1,576,647 50,152 860,420 231,556 9,452 62,948 7,976,590 77,712 37,524 115,236 50,000 50,000 101,607 35,211 3,986 140,804 427,200 1,710,408 3,077,020 1,050,087 335,480 427,200 854,400 477,336 439,790 19,000 485,814 188,562 61,261 42,893 3,760,544 4,127,107 3,122,815 666,041 908,723 51,438 19,803 822,569 312,106 13,884 114,889 6,032,268 7,681,187 1,953,747 501,975 4,531,961 1,551,411 437,037 7,591 16,664,909 Par Pension Non Par Annuity Non Par Health Linked Life Linked Pension Linked Health Linked Group Total
306

SCHEDULE 8B
ASSETS HELD TO COVER LINKED LIABILITIES (` 000)
Particulars LONG TERM INVESTMENTS Government Securities (Historic value : ` 3,851,046 thousands) Other Approved Securities (Historic value : ` 10,798 thousands) Other Approved Investments Equity (Historic value : ` 285,038,155 thousands) Debentures/ Bonds (Historic value : ` 20,651,553 thousands) Fixed Deposit (Historic value : ` 15,216,000 thousands) Investments in Infrastructure / Housing / Social Sector Equity (Historic value : ` 23,311,631 thousands) Debenture/ Bonds (Historic value : ` 24,383,571 thousands) Other Investments Equity (Historic value : ` 39,663,904 thousands) Debentures/ Bonds (Historic value : ` 1,817,022 thousands) Venture Fund (Historic value : ` 16,440 thousands) SHORT TERM INVESTMENTS Government Securities (Historic value : ` Nil) Other Approved Securities (Historic value : ` 315,373 thousands) Other Approved Investments Debentures/ Bonds (Historic value : ` 5,990,783 thousands) Certificate of Deposit (Historic value : ` 50,562,936 thousands) Commercial Papers (Historic value : ` 3,349,798 thousands) Fixed Deposits (Historic value : ` 19,879,607 thousands) CBLO (Historic value : ` 322,390 thousands) Mutual Fund (Historic value : ` 861,630 thousands) Investments in Infrastructure / Housing / Social Sector Debentures/ Bonds (Historic value : ` 3,648,611 thousands) Commercial Papers (Historic value : ` 7,168,479 thousands) Other Investments Mutual Fund (Historic value : ` 425,666 thousands) Net Current Asset Total In India Total 3,936,455 298,703,887 298,703,887 298,703,887 3,398,115 242,278,182 242,278,182 242,278,182 79,834 2,023,333 2,023,333 2,023,333 1,234,826 45,259,945 45,259,945 45,259,945 8,649,230 588,265,347 588,265,347 588,265,347 257,595 101,853 48,006 18,212 425,666 2,959,435 2,518,834 31,275 1,779,757 7,289,301 1,827,162 1,209,509 3,343 663,014 3,703,028 431,302 289,417 15,231 125,680 861,630 280,373 42,088 322,461 8,066,807 6,812,578 60,428 4,939,794 19,879,607 734,528 1,374,549 2,846 1,280,964 3,392,887 20,417,281 19,763,330 171,555 10,827,133 51,179,299 2,289,758 1,682,974 34,529 1,952,664 5,959,925 105,827 200,772 2,320 308,919 16,883 16,883 371,733 520,889 8,016 920,813 1,821,451 20,890,134 14,991,337 184,381 670,575 36,736,427 10,183,203 7,882,077 67,186 6,172,505 24,304,971 9,993,990 10,869,975 106,431 141,138 21,111,534 5,430,191 5,673,708 70,006 4,042,095 15,216,000 8,658,406 6,915,106 94,122 4,936,271 20,603,905 198,516,792 157,553,670 1,003,955 5,532,127 362,606,544 10,839 69 10,908 3,325,193 519,489 101 19,988 3,864,771 March 31, 2011 Linked Life Funds Linked Pension Funds Linked Health Funds Linked Group Funds Total
307
financial Report
SCHEDULE 8B
ASSETS HELD TO COVER LINKED LIABILITIES (` 000)
March 31, 2010 Particulars Linked Life Funds LONG TERM INVESTMENTS Government Securities (Historic value : ` 428,929 thousands) Other Approved Securities (Historic value : ` 326,904 thousands) Other Approved Investments Equity (Historic value : ` 223,319,342 thousands) Debentures/ Bonds (Historic value : ` 28,005,813 thousands) Fixed Deposit (Historic value : ` 1,300,009 thousands) Investments in Infrastructure / Housing / Social Sector Equity (Historic value : ` 19,447,974 thousands) Debenture/ Bonds (Historic value : ` 32,894,504 thousands) Other Investments Equity (Historic value : ` 40,095,143 thousands) Debentures/ Bonds (Historic value : ` 273,013 thousands) Venture Fund (Historic value : ` 22,200 thousands) SHORT TERM INVESTMENTS Government Securities (Historic value : ` 2,949,784 thousands) Other Approved Securities (Historic value : ` 8,248 thousands) Other Approved Investments Debentures/ Bonds (Historic value : ` 1,596,494 thousands) Certificate of Deposit (Historic value : ` 40,546,556 thousands) Commercial Papers (Historic value : ` 3,662,536 thousands) Fixed Deposits (Historic value : ` 8,550,900 thousands) CBLO (Historic value : ` 2,573,325 thousands) Mutual Fund (Historic value : ` 2,750,218 thousands) Investments in Infrastructure / Housing / Social Sector Debentures/ Bonds (Historic value : ` 2,924,714 thousands) Commercial Papers (Historic value : ` 2,729,872 thousands) Other Investments Term Loans (Historic value : ` 71,600 thousands) Mutual Fund (Historic value : ` 1,344,519 thousands) Net Current Asset Total In India Total 2,380,121 280,953,870 280,953,870 280,953,870 1,132,148 195,197,612 195,197,612 195,197,612 51,092 1,191,044 1,191,044 1,191,044 1,962,905 37,350,040 37,350,040 37,350,040 5,526,266 514,692,566 514,692,566 514,692,566 377,519 927,448 5,598 33,954 1,344,519 52,180 19,420 71,600 668,920 787,157 1,350 1,287,613 2,745,040 1,557,563 871,788 16,457 634,274 3,080,082 951,450 1,528,936 10,689 259,143 2,750,218 1,782,506 786,405 4,747 2,573,658 3,790,931 2,164,632 15,168 2,580,169 8,550,900 1,089,160 2,040,748 108 542,653 3,672,669 13,491,498 16,429,302 140,979 10,675,712 40,737,491 1,027,039 315,095 250 276,384 1,618,768 8,164 67 8,231 2,087,502 876,896 2,964,398 21,837 21,837 104,468 79,106 151 92,893 276,618 25,932,401 17,470,460 110,021 463,483 43,976,365 14,603,436 11,193,202 95,065 7,532,899 33,424,602 12,346,778 10,150,711 73,028 352,468 22,922,985 324,001 578,341 38,286 359,381 1,300,009 12,137,900 9,954,626 117,304 6,422,561 28,632,391 185,690,858 117,677,585 510,751 3,857,132 307,736,326 119,953 205,228 2,491 327,672 407,685 8,378 13,858 429,921 Linked Pension Funds Linked Health Funds Linked Group Funds Total
308

SCHEDULE 9
LOANS (` 000) Particulars 1. SECURITY-WISE CLASSIFICATIONS Secured (a) On mortgage of property (aa) In India (bb) Outside India (b) On Shares, Bonds, Govt Securities, etc. (c) Loans against policies (d) Others Unsecured Total 2. BORROWER WISE CLASSIFICATION (a) Central and State Governments (b) Banks and Financial Institutions (c) Subsidiaries (d) Companies (e) Loans against policies (f) Loans to employees Total 3. PERFORMANCE-WISE CLASSIFICATION (a) Loans classified as standard (aa) In India (bb) Outside India (b) Non-standard loans less provisions (aa) In India (bb) Outside India Total 4. MATURITY-WISE CLASSIFICATION (a) Short-Term (b) Long-Term Total March 31, 2011 March 31, 2010
86,945 86,945 86,945 86,945
28,400 87,648 116,048 28,400 87,648 116,048
86,945 86,945 86,945 86,945
116,048 116,048 28,400 87,648 116,048
SCHEDULE 10
FIXED ASSETS (` 000)
Gross Block (at cost) Particulars As at April 1, 2010 903,280 89,000 2,457,647 151,697 228,610 102,497 62,251 2,480 438,303 4,435,765 Additions 13,756 1,529 15,618 4,868 6,795 2,405 82,071 127,042 Deductions 158,135 21,953 1,501 740 182,329 As at March 31 , 2011 903,280 89,000 2,313,268 131,273 242,727 106,625 69,046 4,885 520,374 4,380,478 As at April 1, 2010 4,361 1,115,617 115,082 198,942 100,097 49,009 1,971 228,240 1,813,319 Depreciation For the year 1,451 573,834 13,762 20,319 4,821 7,687 670 104,355 726,899 Deductions 117,693 12,591 946 739 131,969 As at March 31, 2011 5,812 1,571,758 116,253 218,315 104,179 56,696 2,641 332,595 2,408,249 Net Block As at March 31, 2011 903,280 83,188 741,510 15,020 24,412 2,446 12,350 2,244 187,779 1,972,229 13,201 1,985,430 4,758,707 228,426 551,368 4,435,765 1,550,573 596,907 334,161 1,813,319 As at March 31, 2010 903,280 84,639 1,342,030 36,615 29,668 2,400 13,242 509 210,063 2,622,446 11,650 2,634,096
Freehold Land Office Buildings on Freehold Land Improvements to Leasehold Property Furniture and Fixtures Office Equipment/plant Information Technology Equipment/Computer Communication Networks Motor Vehicles Software Total Capital work in progess including capital advances Total Previous year
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financial Report
SCHEDULE 11
CASH AND BANK BALANCES (` 000) Particulars Cash (including cheques, drafts and stamps) Bank Balance (a) Deposit Account : (aa) Short-term (due within 12 months of the date of balance sheet) (bb) Others (b) Current accounts Money at call and short notice Others Total CASH AND BANK BALANCES In India Outside India Total March 31, 2011 2,314,279 March 31, 2010 2,195,978
90,000 990,861 3,395,140 3,376,188 18,952 3,395,140
89,400 858,155 3,143,533 3,113,679 29,854 3,143,533
SCHEDULE 12
ADVANCES AND OTHER ASSETS (` 000) Particulars ADVANCES Prepayments Advance tax paid and taxes deducted at source Deposits Other advances Other receivables Total (A) OTHER ASSETS Income accrued on investments and deposits Outstanding premiums Agents balances Sundry Debtors (Investments) Service Tax un-utilised credit Total (B) Total (A+B) March 31, 2011 231,772 38,709 1,341,719 271,274 22,797 1,906,271 1,191,117 206,018 10,742 30,854 1,438,731 3,345,002 March 31, 2010 267,316 36,362 1,009,796 175,116 21,933 1,510,523 910,865 253,179 8,750 47,248 238,200 1,458,242 2,968,765
SCHEDULE 13
CURRENT LIABILITIES (` 000) Particulars Agents balances Sundry creditors Deposits Expenses payable Reinsurance premium payable Due to holding company TDS payable Claims outstanding Unallocated premium Premium received in advance Payable towards investments purchased Unclaimed amount of Policyholders Other liabilities Total March 31, 2011 435,750 275,463 5,981 5,174,953 42,782 123,521 214,900 157,638 1,461,815 800,590 4,467,815 2,736,136 15,897,344 March 31, 2010 417,273 267,195 5,981 4,870,920 168,547 611,697 285,131 392,103 2,053,271 568,107 32,637 1,626,699 4,417,794 15,717,355
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SCHEDULE 14
PROVISIONS (` 000) Particulars For taxation For proposed dividends For dividend distribution tax Provision for service tax un-utilised credit Provision for leave encashment and gratuity Total March 31, 2011 49,060 49,060 March 31, 2010 32 238,200 60,635 298,867
SCHEDULE 15
MISCELLANEOUS EXPENDITURE (To the extent not written off or adjusted) (` 000) Particulars Discount allowed in issue of shares / debentures Others Total March 31, 2011 March 31, 2010
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Schedule 16 Significant accounting policies and notes forming part of the consolidated accounts for the year ended March 31, 2011 1. Background These financial statements comprise of the consolidated financial statements of ICICI Prudential Life Insurance Company Limited, the Parent Company, with the financial statements of its subsidiary ICICI Prudential Pension Funds Management Company Limited. ICICI Prudential Life Insurance Company Limited is a joint venture between ICICI Bank Limited and Prudential Corporation Plc. The Company is licensed by the Insurance Regulatory and Development Authority (IRDA) for carrying life insurance business in India. The Company carries on business in the areas of life, pensions and health insurance. This business spans across individual and group products and covers participating, non-participating and unit linked lines of business. Riders covering additional benefits are offered under these products. These products are distributed through individual agents, corporate agents, banks, brokers and the companys proprietary sales force. ICICI Prudential Pension Funds Management Company Limited is a 100% subsidiary of ICICI Prudential Life insurance Company Limited, incorporated in India, on April 22, 2009 as a company under the Companies Act, 1956 (`the Act). The Company is licensed by the Pension Funds Regulatory and Development Authority (`PFRDA) for acting as a the Pension Fund Manager for the management of the Pension Funds under the New Pension System introduced by the Central Government with effect from May 1, 2009. 2. 2.1 Summary of Significant Accounting Policies Basis of preparation
The accompaning consolidated financial statements have been prepared and presented under the historical cost convention, unless otherwise stated, on the accrual basis of accounting, in accordance with Accounting Standard 21 Consolidated Financial Statements prescribed in the Companies (Accounting Standards) Rules, 2006 (the Rules) and in accordance with the provisions of the Insurance Act, 1938, Insurance Regulatory and Development Authority Act, 1999, and the regulations framed there under and the Act to the extent applicable and the practices prevailing within the insurance industry in India. 2.2 Use of estimates The preparation of financial statements is in conformity with generally accepted accounting principles which require management to make estimates and assumptions that affect the reported amount of assets, liabilities, revenues and expenses and disclosure of contingent liabilities as on the date of the financial statements. The estimates and assumptions used in the accompanying financial statements are based upon managements evaluation of the relevant facts and circumstances as on the date of the financial statements. Actual results could differ from those estimates. Any revision to accounting estimates is recognised prospectively. 2.3 Revenue recognition In case of life insurance business, premium income is recognised as income when due. For linked business, premium is recognised as income when the associated units are created. Premium on lapsed policies is recognised as income when such policies are reinstated. Top up premiums are considered as single premium.
Income from linked funds which includes fund management charges, policy administration charges, mortality charges, etc are recovered from the linked fund in accordance with terms and conditions of policy and are recognised when due. In case of pension fund management business, investment management fees are recognised on an accrual basis in accordance with the terms of contract between the Company and New Pension System Trust, established by PFRDA. 2.4 Income earned on investments Interest income on investments is recognised on accrual basis. Accretion of discount and amortisation of premium relating to debt securities is recognised over the holding / maturity period on a straight-line basis.
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Dividend income, in respect of other than linked business, is recognised when the right to receive dividend is established. Dividend income, in respect of linked business, is recognised on the èx-dividend date. Realised gain / loss on debt securities for other than linked business is the difference between the sale consideration net of expenses and the amortised cost, which is computed on a weighted average basis, as on the date of sale. Realised gain / loss on debt securities for linked business is the difference between the sale consideration net of expenses and the book cost, which is computed on weighted average basis, as on the date of sale. Profit or loss on sale of equity shares / mutual fund units is the difference between the sale consideration net of expenses and the book cost computed on weighted average basis. 2.5 Reinsurance premium In case of Life insurance business, cost of reinsurance ceded is accounted for at the time of recognition of premium income in accordance with the treaty or in-principle arrangement with the reinsurer. Profit commission on reinsurance ceded is netted off against premium ceded on reinsurance. 2.6 Benefits paid Benefits paid comprise of policy benefits and claim settlement costs, if any. Death, rider and surrender claims are accounted for on receipt of intimation. Survival benefit claims and maturity claims are accounted when due. Withdrawals and surrenders under linked policies are accounted in the respective schemes when the associated units are cancelled / redeemed. Reinsurance recoveries on claims are accounted for, in the same period as the related claims. 2.7 Acquisition costs Acquisition costs are costs that vary with and are primarily related to acquisition of insurance contracts and are expensed in the period in which they are incurred. 2.8 Actuarial liability valuation Actuarial liability for life policies in force and for policies in respect of which premiums have been discontinued but a liability exists, is determined by the Appointed Actuary using the gross premium method, in accordance with accepted actuarial practice, requirements of Insurance Act 1938, IRDA regulations and the Guidance Notes issued by the Institute of Actuaries of India. 2.9 Investments Insurance business related investments are made in accordance with the Insurance Act, 1938, the IRDA (Investment) Regulations, 2000, and various other circulars / notifications issued by the IRDA in this context from time to time. Investments are recorded at cost on the date of purchase, which includes brokerage and taxes, if any, and excludes accrued interest. Bonus entitlements are recognised as investments on the ex-bonus date. Rights entitlements are recognised as investments on the ex-rights date. Any front end discount on privately placed investments is reduced from the cost of such investments.
Broken period interest paid/received is debited/credited to Interest Receivable account and is not included in the cost of purchase/sale value. In case of pension fund management business, Investments that are readily realisable and intended to be held for not more than a year are classified as current investments. All other investments are classified as long term investments. Current investments are carried at lower of cost and fair value determined on an individual investment basis. Long term investments are carried at cost. Provisions for diminution in value of investments are made to recognise a decline other than temporary in nature. 2.10 Valuation - shareholders investments and non-linked policyholders investments In case of Life insurance business, all debt securities and redeemable preference shares are considered as `held to maturity and accordingly stated at historical cost, subject to amortisation of premium or accretion of discount in the revenue account or the profit and loss account over the period of maturity / holding on a straight line basis.
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Listed equity shares as at the balance sheet date are stated at fair value being the last quoted closing price on the National Stock Exchange (NSE) (In case of securities not listed on NSE, the last quoted closing price on the Bombay Stock Exchange (BSE) is used). Equity shares awaiting listing are stated at historical cost subject to provision for diminution, if any, in the value of such investment determined separately for each individual investment. Mutual fund units are valued at the latest available net asset values of the respective fund. Unrealised gains / losses arising due to changes in the fair value of listed equity shares and mutual fund units are taken to Fair Value Change Account in the balance sheet. Investment in real estate is valued at historical cost, subject to revaluation (done atleast once in every three years) and provision for impairment, if any. The change in carrying amount of investments in real estate is taken to revaluation reserve under Policyholders funds in the balance sheet. 2.11 Investments in venture fund units are valued at historical cost. Valuation - linked business
Debt securities other than Government securities with a residual maturity over 182 days are valued on a yield to maturity basis, by using spreads over the benchmark rate (based on the matrix released by the Credit Rating Information Services of India Ltd. (CRISIL) on daily basis) to arrive at the yield for pricing the security. Debt securities with a residual maturity upto 182 days are valued at last valuation price plus the difference between the redemption value and last valuation price, spread uniformly over the remaining maturity period of the instrument. Central and State Government securities are valued as per the prices released by CRISIL. Money market instruments are valued at historical cost, subject to amortisation of premium or accretion of discount over the period of maturity / holding on a straight-line basis. Listed equity shares are valued at market value, being the last quoted closing price on the NSE (In case of securities not listed on NSE, the last quoted closing price on the BSE is used). Equity shares awaiting listing are stated at historical cost subject to provision for diminution, if any, in the value of such investment determined separately for each individual investment. Mutual fund units are valued at the latest available net asset values of the respective fund. Venture fund units are valued at the latest available net asset value of the respective fund. Securities with call option are valued at the lower of the value as obtained by valuing the security to final maturity date or the call option date. In case there are multiple call options, the security is valued at the lowest value obtained by valuing to security at various call dates or to the final maturity date. Securities with put option are valued at the higher of the value as obtained by valuing the security to final maturity date or to the put option date. In case there are multiple put options, the security is valued at the highest value obtained by valuing the security to various put dates or to the final maturity date. The securities with both put and call option on the same day would be deemed to mature on the put / call day and would be valued on a yield to maturity basis, by using spreads over the benchmark rate based on the matrix released by CRISIL. Instruments bought on `repo basis are valued at cost plus interest accrued on reverse repo rate. Unrealised gains and losses are recognised in the respective funds revenue account. 2.12 Transfer of investments Transfer of investments from Shareholders Fund to the Policyholders Fund is at cost or market price, whichever is lower. However, in case of debt securities all transfers are carried out at the net amortised cost. Transfer of investments between unit linked funds is done at market price. 2.13 2.14 Loans Loans are stated at historical cost, subject to provision for impairment, if any. Fixed assets and depreciation
Fixed assets are stated at cost less accumulated depreciation. Cost includes the purchase price and any cost directly attributable to bring the asset to its working condition for its intended use. Subsequent expenditure incurred on fixed assets is expensed out except where such expenditure increases the future benefits from
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the existing assets. Assets costing upto ` 5,000 (Rupees five thousand) are fully depreciated in the year of acquisition. The rate of depreciation is higher of the managements estimate based on useful life or the rates prescribed under the Act. Depreciation is provided using Straight-Line Method (SLM) prorated from the date of acquisition / upto the date of sale, based on estimated useful life for each class of asset, as stated below: Asset Office buildings on freehold land Improvement to leasehold properties Furniture and fixtures Office equipment Information technology equipment Communication networks and servers Motor vehicles 2.15 Intangibles Depreciation rates 1.63% Over the lease period, subject to a maximum of 9 years 15% 25% 33.33% 25% 20%
Intangible assets comprising software are stated at cost less amortisation. Significant improvements to software are capitalised and amortised over the remaining useful life of original software. Software expenses are amortised using Straight Line Method over a period of 4 years from the date of being put to use. 2.16 Impairment of assets Management periodically assesses, using external and internal sources, whether there is any indication that an asset may be impaired. Impairment occurs where the carrying value exceeds the present value of future cash flows expected to arise from the continuing use of the asset and its eventual disposal. The impairment loss to be expensed is determined as the excess of the carrying amount over the higher of the assets net sales price or present value as determined above. If at the balance sheet date there is an indication that a previously assessed impairment loss no longer exists, the recoverable amount is reassessed and the asset is reflected at the recoverable amount, subject to a maximum of depreciable historical cost. 2.17 Operating leases Leases where the lessor effectively retains substantially all the risks and benefits of ownership over the leased term are classified as operating leases. Operating lease rentals including escalations are recognised as an expense, on a straight line basis, over the lease term. 2.18 Staff benefits All short term employee benefits are accounted on undiscounted basis during the accounting period based on services rendered by employees. The Company has incorporated a Provident Fund Trust to which it pays a fixed contribution at the rate specified in the trust deed. The trust deed also provides for the Company to indemnify to the trust, interest at the rates prescribed by the Central Government, in case the fund does not hold sufficient assets. The Guidance issued by the Institute of Chartered Accountants of India (ICAI) on implementing AS 15, Employee Benefits (revised 2005) states that the provident funds set up by employers, which requires interest shortfall to be met by the employer, needs to be treated as defined benefit plan. Pending the issuance of the Guidance Note in this respect by the Actuarial Society of India, the Companys consulting actuary has expressed his inability to reliably measure the provident fund liability. Accordingly, the Company is unable to exhibit the related disclosures. The Companys liability towards gratuity and leave encashment being defined benefit plans is accounted for on the basis of an independent actuarial valuation done at the year end and actuarial gains / losses are charged to the revenue account and the profit and loss account as applicable. Superannuation is a defined contribution plan. The Company has accrued for superannuation liability based on a percentage of basic salary payable to eligible employees for the period of service. 2.19 Foreign exchange transactions Transactions in foreign currencies are recorded at the exchange rates prevailing at the date of the transaction. Monetary assets and liabilities in foreign currency, if any, are translated at the year end closing rates. The resulting exchange gain or loss arising either on settlement or on translation, if any, are reflected in the revenue account and the profit and loss account as applicable.
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financial Report
2.20 Segment reporting policies Based on the primary segments identified under IRDA (Preparation of Financial Statements and Auditors Report of Insurance Companies) Regulations 2002 (the Regulations) read with AS 17 on Segmental Reporting prescribed in the Companies Act, 1956 and rules thereunder, the Company has classified and disclosed segmental information into Shareholder and Policyholder Participating (Life and Pension for Group and Retail segments put together), Non Participating, Pension, Linked (Life, Pension, Health and Group), Health and Annuity businesses. There are no reportable geographical segments, since all business is written in India. Allocation of expenses Operating expenses relating to insurance business are allocated to specific business segments in the following manner, which is applied on a consistent basis. Expenses that are directly identifiable to the segment are allocated on actual basis. Other expenses (including depreciation and amortisation), that are not directly identifiable to a business segment, are allocated on one of the following basis: Number of policies Weighted annualised first year premium income Sum assured Total premium income Medical cases Funds under management The method of allocation has been decided based on the nature of the expense and its logical co-relation with various business segments. 2.21 Taxation Income tax expense comprises of current tax (i.e. amount of tax for the period determined in accordance with the Income Tax Act, 1961) and deferred tax charge or credit (reflecting the tax effects of timing differences between accounting income and taxable income for the period). Provision for current income tax is made based on the estimated tax liability computed after taking credit for allowances and exemptions in accordance with the Income Tax Act, 1961. The deferred tax charge or credit and the corresponding deferred tax liabilities or assets are recognised using the tax rates that have been enacted or substantively enacted by the balance sheet date. Deferred tax assets are recognised only to the extent there is reasonable certainty that the assets can be realised in future; however, where there is unabsorbed depreciation or carried forward loss under taxation law, deferred tax assets are recognised only if there is a virtual certainty of realisation of such assets. Deferred tax assets are reviewed as at each balance sheet date and written down or written up to reflect the amount that is reasonable / virtually certain (as the case may be) to be realised. The company allocates tax to the participating lines of business in order to ensure that the expenses pertaining to and identifiable with a particular line of business are represented as such to enable a more appropriate presentation of the financial statements. According to the revised policy, tax charge/credit on surplus/deficit arising from the participating line of business will be disclosed separately in the revenue account. 2.22 Employee Stock Option Scheme The Company has formulated an Employee Stock Option Scheme (the Scheme). The Scheme provides that eligible employees are granted options to acquire equity shares of the Company that vest in graded manner. The vested options may be exercised within a specified period. The exercise price of the option is diluted when there is a subsequent issue of shares at a price lower than the grant price. The options are accounted on intrinsic value basis and accordingly the intrinsic value of options, if any, is amortised over the vesting period. Incremental intrinsic value of options, arising from modification of exercise price, if any, is amortised over the remainder of the vesting period. Provisions and contingencies The Company makes a provision when there is a present obligation as a result of a past event that probably requires an outflow of resources and a reliable estimate can be made of the amount of the obligation. A disclosure of a contingent liability is made when there is a possible obligation or present obligations that
2.23
316

may, but probably will not, require an outflow of resources or it cannot be reliably estimated. When there is a possible obligation or a present obligation in respect of which the likelihood of outflow of resources is remote, no provision or disclosure is made. Loss contingencies arising from claims, litigation, assessment, fines, penalties, etc are recorded when it is possible that a liability has been incurred and the amount can be reasonably estimated. 2.24 Earnings per share Basic earnings per share are calculated by dividing the net profit or loss for the period attributable to equity shareholders by the weighted average number of equity shares outstanding during the period.For the purpose of calculating diluted earnings per share, the net profit or loss for the period attributable to equity shareholders and the weighted average number of shares outstanding during the period are adjusted for the effects of all dilutive potential equity shares. 2.25 Appropriation / Expropriation In accordance with the Unit Linked guidelines issued by IRDA effective July 1, 2006, the Company follows the Appropriation / Expropriation method for calculating the Net Asset Value (`NAV). This method provides for adjusting the NAV on account of the `Dealing Costs. The accounting for dealing costs is disclosed in the Revenue account as an adjustment with corresponding changes to the Change in Valuation of Policy Liability Account. Corresponding adjustments are also made in the Assets Held to cover Policy Liabilities and the Provisions for Linked Liabilities in the Balance Sheet. 2.26 Funds for Future Appropriations Linked Amounts estimated by Appointed Actuary as Funds for Future Appropriations (`FFA) Linked are required to be set aside in the balance sheet and are not available for distribution to shareholders until the expiry of the maximum revival period. The Company appropriates FFA from the Revenue Account. Transfer pricing policy All the transactions between the ICICI Prudential Life Insurance Company Limited, the parent, and ICICI Prudential Pension Funds Management Company Limited are on arms length basis. ICICI Prudential Life Insurance Company Limited and ICICI Prudential Pension Funds Management Company Limited have formally defined and agreed on a transfer pricing policy whereby all common costs are allocated amongst the parent and subsidiary on actual cost basis.
2.27
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financial Report
3. 3.1
Notes to accounts Contingent liabilities

(` 000)
Particulars Partly-paid up investments Underwriting commitments outstanding Claims, other than those under policies, not acknowledged as debts Guarantees given by or on behalf of the Company Statutory demands / liabilities in dispute, not provided for Reinsurance obligations to the extent not provided for Others policy related claims under litigation 3.2 Actuarial method and assumptions
As at March 31, 2011 153,485 4,888 239,601
As at March 31, 2010 19,191 4,888 107,391
The actuarial liability in respect of both participating and non-participating policies is calculated using the gross premium method, using assumptions for interest, mortality, expense and inflation and,in the case of participating policies, future bonuses together with allowance for taxation and allocation of profits to shareholders. These assumptions are determined as prudent estimates at the date of valuation with allowances for adverse deviations. No allowance is made for expected lapses. An explicitprovision has been made to allow for additional expenses thatthe Company may have to incur if it were to close to new business 12 months after the valuation date. The greater of a liability calculated using discounted cash flows and unearned premium reservesisheld for the unexpired portion of the risk for the general fund liabilities of linked business and attached riders. An unearned premium reserve is held for one year renewable group term insurance. The unit liability in respect of linked business has been taken as the value of the units standing to the credit of policyholders, using the Net Asset Value (`NAV) prevailing at the valuation date.Theadequacy of charges under unit linked policies to meet future expenses has been tested and provision made as appropriate. Provision has also been made for the cost of guarantee under unit linked products that carry a guarantee. The units held in respect of lapsed policies are divided into a revival reserve, which contributes to liabilities, and a fund for future appropriation, which contributes to regulatory capital. The interest rates used for valuing the liabilities are in the range of 6.16% to 6.86% per annum. The corresponding range last yearwas5.10% to 6.78% per annum. Mortality rates used are based on the published IALM (94-96) Ultimate Mortality Table for assurances and LIC (a) 96-98 table for annuities, adjusted to reflect expected experience. Morbidity rates used are based on CIBT 93 table, adjusted for expected experience, or on risk rates supplied by reinsurers. Expenses are provided for at current levels, in respect of renewal expenses, with no allowance for future improvements. Per policy renewal expenses for regular premium policies are assumed to inflate at 5.90%. The corresponding inflation last year was 4.30%. 3.3 Commitments Commitments made and outstanding for loans and investment is ` Nil. Estimated amount of contracts remaining to be executed on fixed assets to the extent not provided for (net of advance) is ` 61,269 thousand (Previous year: ` 59,632 thousand). 3.4 Real Estate Investment Property In accordance with the IRDA Regulations, 2002 (Preparation of Financial Statements and Auditors Report of Insurance Companies), the Companys real estate investments have been revalued by an independent valuer as of March 2011. The value of real estate investment based on the valuation report is disclosed at revalued
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amount. The value of the investment property in accordance with the independent valuation of March 2011 is ` 854,400 thousand (Previous year: ` 854,400 thousand Historical cost: ` 185,521 thousand). 3.5 Deferred taxes Deferred tax asset is recognised on carry forward of eligible tax losses, which can be set off against future taxable income and on timing differences arising from funds for future appropriation under linked line of business. Deferred tax assets are reviewed as at each balance sheet date and written down or written up to reflect the amount that is virtually certain to be realised. Deferred tax asset is created on the Companys eligible tax losses to the extent that there is virtual certainty supported by convincing evidence that sufficient future taxable income will be available against which such deferred tax can be realised. As at March 31, 2011, ` 1,330,807 thousand represents deferred tax asset on carry forward unabsorbed losses (Previous year: ` 2,041,498 thousand). Deferred tax asset has been created on the basis of certainty of the profit of the business, subject to lapsation determined by the Appointed Actuary. During the year, the company has changed the accounting policy in respect of allocation of tax to the participating line of business which would result in more appropriate presentation of the financial statements. According to the revised policy, tax charge/deferred tax asset on surplus/deficit arising from the participating line of business will be disclosed separately in the revenue account. Consequent to this change in accounting policy, the shareholders profit for the year ended March 31, 2011 has increased from ` 7,976,700 thousand to ` 8,076,226 thousand and the policyholders profit has decreased from ` 6,175,568 thousand to ` 6,076,042 thousand for the year ended March 31, 2011. There is no impact on the profit for last year due to this change in the accounting policy.
(` 000)
Particulars Deferred tax assets on: Carry forward of unabsorbed tax losses Linked funds for future appropriation Tax deductible expenses Total 3.6 Operating lease commitments
Deferred tax asset as at April 1, 2010
(Charge) / Credit for the period
Deferred tax assets as at March 31, 2011
2,041,498 913,666 381 2,955,545
(710,691) (460,056) (381) (1,171,128)
1,330,807 4,53,610 1,784,417
The Company takes premises (both commercial and residential), motor vehicles, office equipments, computers, servers and modular furniture on operating lease. Certain lease arrangements provide for cancellation by either party and also contain a clause for renewal of the lease agreement. Lease payments on cancelable and non-cancelable operating lease arrangements are charged to the revenue account and the profit and loss account over the lease term on a straight line basis. The operating lease rentals charged during the year and future minimum lease payments in respect of non-cancelable operating leases as at the balance sheet date are summarised below:
(` 000)
Particulars
Not later than one year Later than one year but not later than five years Later than five years
March 31, 2011

471,287 792,890
March 31, 2010

541,992 1,203,288
The total operating lease rentals charged to Revenue account in the current year is ` 2,268,307 thousand (Previous year: ` 2,639,908 thousand).
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financial Report
3.7 Details of related parties and transactions with related parties Related parties and nature of relationship Nature of relationship Holding company Substantial interest Fellow subsidiaries ICICI Bank Limited Prudential Corporation Plc ICICI Securities Limited ICICI Venture Funds Management Company Limited ICICI Home Finance Company Limited ICICI Lombard General Insurance Company Limited ICICI Trusteeship Services Limited ICICI Securities Primary Dealership Limited ICICI Securities Inc. ICICI Securities Holding Inc. ICICI Investment Management Company Limited ICICI International Limited ICICI Bank UK PLC. ICICI Bank Canada ICICI Bank Eurasia Limited Liability Company ICICI Prudential Asset Management Company Limited ICICI Prudential Trust Limited ICICI Eco-net Internet and Technology Fund ICICI Equity Fund ICICI Emerging Sectors Fund ICICI Strategic Investments Fund TCW / ICICI Investment Partners Limited Liability Company ICICI Kinfra Limited ICICI West Bengal Infrastructure Development Corporation Limited ICICI Venture Value Fund (IVVF) I-Ven Biotech Limited Key management personnel Sandeep Bakhshi, Managing Director & CEO(w.e.f August 1, 2010) V. Vaidyanathan, Managing Director & CEO (upto July 31, 2010) Puneet Nanda, Executive Director Madhivanan Balakrishnan, Executive Director Anita Pai, Executive Vice President (upto April 1, 2010) Tarun Chugh, Executive Vice President Judhajit Das, Chief Human Resources Avijit Chatterjee, Appointed Actuary Significant influence ICICI Prudential Life Insurance Company Limited Employees Group Gratuity Cum Life Insurance Scheme ICICI Prudential Life Insurance Company Limited Employees Provident Fund ICICI Prudential Life Insurance Company Limited Superannuation Scheme The following represents significant transactions between the Company and its related parties. Name of the related party
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Transactions for the year ended March 31, 2011:
(` 000)
Particulars Income Premium income Interest income Expenses Establishment & other expenditure Provident fund, Superannuation and Gratuity contribution Claims Others Share capital issued during the year Share premium Purchase of securities Sale of securities Repo transactions Redemption of Investments Purchase of Fixed Assets Sale of Fixed Assets
1
Holding company
Companies Key Fellow having Management subsidiaries Substantial Personnel Interest 10,8881 163,7652 430,2693 2,320 89,081
Entities having Significant Influence 25,0847 479,4658
143,140 272,489 2,290,786 41,000
7,440,229 1,991,351 7,014,425 200,100 24 98
21,069,8464 4,352,487
5
250,000
6
Includes transactions with ICICI Prudential Asset Management Company Limited of ` 1,414 thousand, with ICICI Securities Limited of ` 1,095 thousand, with ICICI Lombard General Insurance Company Limited of ` 6,067 thousand, with ICICI Venture Limited of ` 2,076 thousand and ICICI Securities Primary Dealership Limited ` 236 thousand; Includes transactions with ICICI Home Finance Company Limited of ` 142,278 thousand and ICICI Securities Primary Dealership Limited ` 21,487 thousand; Establishment and other expenditure include expenses for sharing of common services and facilities, insurance commission, insurance premium, brokerage and business support. Expense also includes ` 16,562 thousand for brokerage paid to ICICI Securities Limited which is included in the cost of Investments; Includes transactions with ICICI Securities Primary Dealership Limited of ` 20,413,498 thousand and ICICI Lombard General Insurance Company Limited of ` 6,56,348 thousand; Includes transactions with ICICI Securities Primary Dealership Limited of ` 4,102,298 thousand and ICICI Lombard General Insurance Company Limited of ` 2,50,188 thousand; Represents transactions with ICICI Securities Primary Dealership Limited; Includes transactions with ICICI Prudential Life Insurance Company Limited Employees Group Gratuity Cum Life Insurance Scheme of ` 16,078 thousand and with ICICI Prudential Life Insurance Company Limited Employees Group Superannuation Scheme of ` 9,006 thousand; Includes transactions with ICICI Prudential Life Insurance Company Limited Employees Group Gratuity Cum Life Insurance Scheme of ` 16,034 thousand, with ICICI Prudential Life Insurance Company Limited Employees Group Superannuation Scheme of ` 9,006 thousand and with ICICI Prudential Life Insurance Company Limited Employees Provident Fund of ` 454,424 thousand.
6 7
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financial Report
Balances of Related parties as at March 31, 2011:

(` 000)
Particulars Assets Long term fixed deposits & corporate bonds / deposits Cash & bank balances Income accrued on investments Other assets Liabilities Share capital Share premium Other liabilities
1
Holding company
Fellow subsidiaries
Companies having substantial interest
Entities Key having management significant personnel influence
3,469,136 202,523 45,957 5,604 10,553,109 24,684,412 123,521
1,679,7451 46,0622 36,2373 29,6574
3,707,329 8,672,901
Includes investment in debentures of ` 1,479,512 thousand of ICICI Home Finance Company Limited and ` 200,233 thousand of ICICI Securities Primary Dealership Limited; 2 Includes interest accrued on Debentures of ` 40,962 thousand of ICICI Home Finance Company Limited and ` 5,099 thousand of ICICI Securities Primary Dealership Limited; 3 Includes advance premium of ` 35,279 thousand paid to ICICI Lombard General Insurance Company Limited; 4 Other liabilities include expenses payable towards sharing of common services and facilities, insurance commission, business support and premium received in advance. Transactions for the year ended March 31, 2010:
(` 000)
Particulars Income Premium income Interest income Expenses Establishment & other expenditure Provident fund, Superannuation and Gratuity contribution Claims
Holding company
Companies Entities Key Fellow having having Management subsidiaries Substantial Significant Personnel Interest Influence 18,9191 181,8162 5,07,0883 6,734 7,412,8124 2,422,3305 3,066,9386
98,711 422,031 3,177,044 52,100
500 105,130
247,8607 507,2618
Others Share capital issued during the year Share premium Purchase of securities 9,898,483 Sale of securities 2,704,668 Repo transactions 196,375,249 Purchase of Fixed Assets 1,372 Sale of Fixed Assets 50
1
164
Includes transactions with ICICI Prudential Asset Management Company Limited of ` 4,452 thousand, with ICICI Securities Limited of ` 4,839 thousand and ICICI Lombard General Insurance Company Limited of ` 6,919 thousand;
322

Includes transactions with ICICI Home Finance Company Limited of ` 160,840 thousand and ICICI Securities Primary Dealership Limited of ` 20,976 thousand; 3 Establishment and other expenditure include expenses for sharing of common services and facilities, insurance commission, insurance premium, brokerage, business support and managerial remuneration. Expense also includes ` 15,638 thousand for brokerage paid to ICICI Securities Limited which is included in the cost of Investments; 4 Includes transactions with ICICI Securities Primary Dealership Limited of ` 5,753,043 thousand, ICICI Lombard General Insurance Company Limited of ` 909,769 thousand and ICICI Home Finance Company Limited of ` 750,000 thousand; 5 Includes transactions with ICICI Securities Primary Dealership Limited of ` 1,990,353 thousand and ICICI Lombard General Insurance Company Limited of ` 431,977 thousand; 6 Represents transactions with ICICI Securities Primary Dealership Limited of ` 3,066,938 thousand; 7 Includes transactions with ICICI Prudential Life Insurance Company Limited Employees Group Gratuity Cum Life Insurance Scheme of ` 236,973 thousand; 8 Includes transactions with ICICI Prudential Life Insurance Company Limited Employees Group Gratuity Cum Life Insurance Scheme of ` 236,793 thousand and with ICICI Prudential Life Insurance Company Limited Employees Provident Fund of ` 259,401 thousand
2
Balances of Related parties as at March 31, 2010: Holding company Fellow subsidiaries Companies having substantial interest Key management personnel
(` 000)
Particulars
Assets Long term fixed deposits & corporate bonds / deposits Cash & bank balances Income accrued on investments Other assets Liabilities Share capital Share premium Other liabilities
1
7,247,909 716,958 131,813 28,556 10,553,109 24,684,412 611,721
1,974,8421 64,670 69,460

2 3
3,707,329 8,672,901
13,342
Includes investment in debentures of ` 1,769,951 thousand of ICICI Home Finance Company Limited and ` 204,891 thousand of ICICI Securities Primary Dealership Limited; 2 Includes interest accrued on Debentures of ` 59,571 thousand of ICICI Home Finance Company Limited; 3 Includes advance premium of ` 63,954 thousand paid to ICICI Lombard General Insurance Company Limited.
3.8 Segmental Reporting Income and expenses directly attributable or allocable to the segments are recorded and disclosed under the respective segments in the revenue account and profit and loss account, as applicable. Investments and policy liabilities are disclosed in the balance sheet under the respective segments. Net fixed assets of ` 1,982,628 thousand (Previous year ` 2,634,004 thousand) are disclosed in shareholders segment. Depreciation expense has been allocated as disclosed in Note 15. During the year ended March 31, 2011, the company has allocated the tax charge / credit to the respective non-participating line of business which, as per the management, would result in more appropriate presentation of the revenue account. As per the revised allocation policy, tax charge/credit on surplus/deficit arising from the non-participating taxable line of business will be disclosed separately in the revenue account.
323
financial Report
Segment wise information of current assets, loans, deferred tax asset and current liabilities and provisions to the extent identifiable are given below: Business Segments Shareholders Par Life # Par Pension # Par Group Life # Par Group Pension# Non-Par Annuity Non-Par Health Linked Life Linked Pension Linked Health Linked Group Others Total Current Assets, Loans & Deferred Tax Asset March 31, 2011 4,623,628 745,675 130,285 NA NA 430,188 306,767 42,113 1,254,287 832,715 77,858 78,168 89,691 8,611,885 March 31, 2010 6,251,038 551,390 139,092 168 531 306,639 143,087 72,422 766,970 755,578 70,650 31,303 95,023 9,183,891
(` 000)
Current Liabilities & Provisions March 31, 2011 5,291,476 359,395 64,484 NA NA 395,148 53,706 115,296 6,107,057 2,822,603 111,944 624,653 642 15,946,404 March 31, 2010 9,060,527 26,585 33,471 1,164 11,120 570,537 116,123 160,115 4,064,210 1,384,304 118,436 469,261 369 16,016,222
Segment-wise information of non-cash items being amortisation of premium included in interest income on debt instruments is tabled below: Business Segments Shareholders Par Life # Par Pension # Par Group Life # Par Group Pension # Non-Par Annuity Non-Par Health Linked Life Linked Pension Linked Health Linked Group Total 3.9 March 31, 2011 (471,675) 7,946 (3,380) NA NA (12,669) (1,540) (453) (25,806) (9,582) 828 (17,569) (533,900)
(` 000)
March 31, 2010 (55,513) 4,096 (2,007) (652) (1,523) (11,207) (2,172) (638) 18,077 13,341 657 1,444 (36,097)
# During the year Par Group Life and Par Group Pension were merged with Par Life and Par Pension respectively for better presentation. Employee benefits Provision for staff benefits as per revised AS 15: (a) Defined Contribution Plans: The amount recognised as an expense during the year is ` 232,380 thousand (Previous year ` 275,390 thousand).
324

Particulars Change in Defined Benefit Obligation: Opening obligations as at April 1 Service cost Interest cost Actuarial (gain) / loss Past service costs Liability assumed on acquisition Benefits paid Present value of the defined benefit obligations at March 31 (A) Change in Plan Asset: Opening plan assets, at fair value as at April 1 Expected return on plan assets Actuarial gain / (loss) Contributions Assets acquired on acquisition Benefits paid Fair value of plan assets at March 31 (B) Cost for the year: Service cost Interest cost Expected return on plan assets Actuarial (gain) / loss Past service cost Losses / (Gains) on Acquisition / Divestiture Total net cost recognised as employee remuneration Reconciliation of Benefit Obligations and Planned Assets for the period: Present value of the defined benefit obligations at March 31 (A) Fair value of plan assets at March 31 (B) Unrecognised past service cost Net asset / (liability) as at March 31 recognised in Balance Sheet Investment details of plan assets: The plan assets are invested in insurer managed funds. Assumptions: Discount rate Salary escalation rate: Grade III and above Year 1 Year 2 to 3 Year 4 to 6 Year 7 onwards Grade I and II Estimated rate of return on plan assets 7.59% 6.10% (b) Defined Benefit Plans:
(` 000)
Year ended March 31, 2011 March 31, 2010 2,61,481 54,039 17,911 29,296 (28,667) (5,492) 328,568 233,791 18,055 (20,827) 109,375 (24,588) (5492) 310,314 54,039 17,911 (18,055) 50,123 10,216 (4,078) 110,156 151,491 34,643 9,641 6,257 98,554 2,856 (41,961) 261,481 35,934 2,444 4,158 230,360 2,856 (41,961) 233,791 34,643 9,641 (2,444) 2,099 68,343 112,282
328,568 310,314 19,994 1,740
261,481 233,791 30,210 2,520
10.00% 8.00% 7.00% 5.00% 5.00% 7.50%
10.00% 8.00% 7.00% 5.00% 5.00% 7.50%
325
financial Report
3.10
Earnings per equity share: March 31, 2011

(` 000)
Particulars I
March 31, 2010
Net profit/(loss) after tax as per profit and loss account available for equity shareholders for both basic and diluted earnings per equity share of ` 10 each II Weighted average number of equity shares for earnings per equity share (a) For basic earnings per equity share (b) For diluted earnings per equity share Number of equity shares for basic earnings per equity share as per (ii) (a) Add: Weighted average outstanding employee stock options deemed to be issued for no consideration Weighted number of equity shares for diluted earnings per equity share III Earnings per equity share Basic (in `) Diluted (in `)
8,076,225
2,579,548
1,428,225,507
1,427,278,700
1,428,225,507 4,358,826 1,432,584,333 5.65 5.64
1,427,278,700 4,397,643 1,431,676,343 1.81 1.80
3.11 Previous year comparatives Previous year figures have been regrouped and reclassified wherever necessary, to conform to current year presentation.
____________________ Sanaulla Khan Company Secretary
326
Consolidated Receipts & Payments Account

Particulars CASH FLOWS FROM OPERATING ACTIVITIES Cash receipts from customers : Premium and other receipts Cash paid towards operating activities : Expenses and withdrawals Reinsurance premium ceded Advances and deposits Loan against policies Taxes paid Net cash from operating activities ( A ) CASH FLOWS FROM INVESTING ACTIVITIES Sale of fixed assets Purchase of fixed assets Purchase of investments Return of loan Sale of investments Interest and dividend received Net cash from investing activities ( B ) CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from issuance of share capital Share premium on capital issued Net cash used in financing activities ( C ) Net increase/(decrease) in cash and cash equivalents (A+B+C) Cash and cash equivalents at beginning of the year Cash and cash equivalents at end of the quarter Note: Cash and cash equivalents at the end of the period Cash (Including cheques in hand and stamps in hand) Bank Balances and Money at call and short notice [Including bank balance for linked business of ` 11,454 thousands (Previous Year: ` 46,414 thousands)] Other short term liquid investment [Forming part of investments in financials] 3,820 (3,227,092) (164,255,413) (762,294) (330,776) (16,021) 208,662,035 (117,724,065) (418,054) 59,913 (35,365) (34,516) March 31, 2011
(` 000) March 31, 2010
184,357,276 (2,903)
(165,364,504) 43,297,531
(118,152,087) 66,202,286
(3,223,272) (4,987,424,702) 4,916,387,785 22,333,909 (51,926,280) 2,619 17,663 20,282 (8,608,467) 25,947,862 17,339,395
5,103 (113,367)
(108,264) (4,712,959,223) 117,116 4,634,717,806 11,993,233 (66,239,333) 7,641 51,582 59,223 22,176 25,816,280 25,838,456
2,314,279 2,941,370
2,195,978 870,849
12,083,746 17,339,395
22,771,629 25,838,456
As per our report of even date attached
Avijit Chatterjee Appointed Actuary Sanaulla Khan Company Secretary
For and on behalf of the Board of Directors Chanda Kochhar Chairperson Sandeep Bakhshi Managing Director & CEO Keki Dadiseth Director K. Ramkumar Director
For Walker, Chandiok & Co For B S R & Co. Chartered Accountants Chartered Accountants Firm Registration No. 001076N Firm Registration No. 101248W Khushroo B. Panthaky Partner Membership No. F-42423 Akeel Master Partner Managing Director & CEO Membership No. 046768
327
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New Business Profit

Introduction

Life insurance policies when sold usually result in an accounting loss in the first policy year. This is called New Business Strain (NBS) and it arises largely due to the high acquisition costs associated with selling insurance and the prudent margin in the reserving basis. Measuring sales performance using statutory profit/loss figures then becomes contradictory as higher sales result in bigger losses. This also does not take into account the actual value created by the sale, which will accrue to the Company over the life of the policy. To overcome these issues, a measure like New Business Profit (NBP) is used to measure sales performance and value created by new business sales. Definition NBP is a metric for the economic value of the new business written during a defined period. It is measured as the present value of the future profits for the shareholders on account of new business sales, based on a given set of assumptions, net of the accounting loss recognised on sale. Actual experience could differ from these assumptions especially in respect of expense over runs in the initial years. The NBP has been calculated net of tax after providing for the cost of capital that would be required to support the business. The cost of capital is taken as the difference between the nominal value for the solvency capital and the present value, at the Risk Discount Rate (RDR), of future release of the capital, together with the investment earning on the solvency capital. Basis of Preparation NBP incorporates best estimate assumptions of future rates of investment returns, policy discontinuances, mortality, expenses, inflation, taxation, bonus rates and statutory valuation bases. Economic Assumptions The Company follows an active basis for setting economic assumptions. The economic assumptions used for calculation of NBP are as follows: Particulars Inflation Investment returns by asset class Cash Medium term G. Sec Long term G. Sec Corporate Bonds Equity 6.68% 8.08% 8.58% 9.03% 13.43% 13.43% 6.50% 7.90% 8.40% 8.85% 13.25% 13.25% Fiscal 2011 6.73% Fiscal 2010 5.50%
Risk Discount Rate
Taxation at the current rate of 12.5% (plus 7.5% surcharge + 3% education cess) is assumed to apply to Life and Health business throughout the projection period. The earning rate for each product category would depend on the asset mix of the funds relating to the product. Results (` In million) Particulars NBP Sensitivity The sensitivity of the NBP to the economic assumptions is given below: Particulars Investment Return Risk Discount Rate Base Case 7,129 7,129 +1% 7,143 6,648 (` In million) -1% 7,111 7,651 Fiscal 2011 7,129 Fiscal 2010 10,154
329
financial Report
Contact Information
At ICICI Prudential Life we believe that all stakeholders & customers should have access to complete information regarding the company, its products, its position, etc. ICICI Prudential Life website: www.iciciprulife.com serves as an easy mode of communication for all customers / stakeholders. Customers / Stakeholders can also contact us as follows : Write to us : ICICI Prudential Life Insurance Company Ltd. Vinod Silk Mills Compound, Chakravarthy Ashok Road, Ashok Nagar, Kandivali (East), Mumbai 400 101 Call us : Toll free number 1800-22-2020 Call centre numbers : Location Andhra Pradesh Bihar Chhattisgarh/ Madhya Pradesh Delhi Gujarat Haryana Karnataka Number 9849577766 9931377766 9893127766 9818177766 9898277766 9896177766 9845577766 Location Kerala Maharashtra & Goa Punjab Rajasthan Tamil Nadu Uttar Pradesh Uttaranchal West Bengal Number 9895477766 9892577766 9815977766 9829277766 9840877766 9935277766 9897307766 9831377766
Email us: Prospect / Customer : To know more about our policies or for any comments, queries or suggestions about our services and products or our website, please write to lifeline@iciciprulife.com NRI Customers : To know more about our policies or for any comments, queries or suggestions about our services and products or our website, please write to eliteservice@iciciprulife.com Group Customer : To know more about our policies or for any comments, queries or suggestions about our services and products or our website, please write to grouplife@iciciprulife.com Walk into any of our offices: You could walk into any of our offices located across the country. Details of the same can be obtained from the Branch Locator section of our website: www.iciciprulife.com.
330
Notes
Notes
Registered Office: ICICI PruLife Towers, 1089 Appasaheb Marathe Marg, Prabhadevi, Mumbai 400 025. Tel: +91-22-4039 1600 or visit us at www.iciciprulife.com
ICICI PRUDENTIAL LIFE INSURANCE COMPANY LIMITED

Annual Report 2010-11

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The last decade has seen the Indian life insurance sector evolve and grow substantially thereby

economic development and nation building.

ICICI Prudential Life Insurance is proud to partner a nation in progress.

Annual Report 2010-2011

Message from the Chairperson

icici pRudential life insuRance