| 74 Annual Report | 2023-2024 Net worth had increased from the previous financial year ended March 31, 2023 due to retained earnings and capital infusion, the net worth of the Company for the financial year stood at INR 1,91,475.69 lakhs. Borrowings has increased to INR 6,01,584.26 lakhs for the financial year ended March 31, 2024 in comparison to that of INR 4,53,348.93 lakhs reported in the previous financial year ended March 31, 2023. The OPEX ratio of the Company was marginally increased year on year due to base impact and increase in business operations. The total comprehensive income (TCI) of the Company stood for the financial year 2023-24 at INR 31,012.02 lakhs against a TCI of INR 6,808.98 lakhs for the Financial Year 2022-23. In terms of gross AUM, the Company had grown from INR 5,357 Crores to INR 7,112 Crores. The major focus during the year was on disbursement, expansion, collection and recovery. As a key achievement, during the year under review, the Company won several noteworthy awards: • Asset Triple A, 2023 for the “Best Payment and Collections Solution, India”in association with IDFC First Bank for their digital payments solution for Arohan; • SKOCH Order of Merit Awards for Innovation in Lending (ArohanPrivilege); • SKOCH Order of Merit Awards for Solution in Lending (Nirnay); • SKOCH Order of Merit Awards for Solution in Financial Inclusion Programme (ApnaArohan Customer App). The Company has received several noteworthy Certifications: • Assigned the prestigious GOLD Standard in Client Protection Principle under the Cerise+SPTF Methodology by the MFR Certification Committee; • Corporate Agent (Composite) License by Insurance Regulatory and Development Authority of India; • CARE MFI 1 Grading, highest on an 8-point scale • COCA Assessment score of C1 (top grade) indicating “Excellent Performance on COCA Dimensions”; • Credit Rating A (Stable); • Arohan's Information Security Management Systems is certified with ISO/IEC 27001:2013 by BSI; • Arohan’s Internal Audit practices is certified with ISO 9001:2015; • Great Place to Work-Certified™ for the 4th time; • Recognised among India's Best WorkplacesTM in BFSI 2024: Top 25, in an assessment undertaken by the Great Place To Work® Institute. CHANGE IN THE NATURE OF BUSINESS During the year under review, there was no change in the nature of the business of the Company. However, the Company has received Corporate Agent (Composite) License by Insurance Regulatory and Development Authority of India on January 04, 2024. CAPITAL INFUSION During the year, the Company has issued and allotted 77,89,648 (Seventy Seven Lakhs Eighty Nine Thousand Six Hundred and Forty Eight Only) Cumulative Compulsory Convertible Preference shares (CCPS) at an issue price of INR 85/- (Indian Rupees Eighty Five only) per CCPS (including a premium of INR 75/-) (Indian Rupees Seventy Five only) per CCPS aggregating to INR 66,21,20,080/- (Indian Rupees Sixty Six Crores Twenty One Lakhs Twenty Thousand and Eighty Only) to Nederlandse Financierings-Maatschappij Voor Ontwikkelingslanden N.V. (FMO) on April 27, 2023. Further, the Company has issued and allotted 2,35,29,411 (Two Crores Thirty Five Lakhs Twenty Nine Thousand Four Hundred and Eleven Only) Cumulative Compulsory Convertible Preference shares at an issue price of INR 85/- (Indian Rupees Eighty Five only) per CCPS including a premium of INR 75/- (Indian Rupees Seventy Five only) per CCPS aggregating to INR 1,99,99,99,935/- (Indian Rupees One Hundred Ninety Nine Crores Ninety Nine Lakhs Ninety Nine Thousand Nine Hundred Thirty Five Only) to Danish Sustainable Development Goals Investment Fund K/S, represented by Investment Fund for Developing Countries (“IFU”) on May 24, 2023 on preferential basis. Furthermore, the Company has issued and allotted 7,00,000 (Seven Lakhs) Equity Shares at an issue price of INR 124/- (Indian Rupees One Hundred and Twenty Four only) per share including a premium of INR 114/- (Indian Rupees One Hundred and Fourteen Only) per share aggregating to INR 8,68,00,000 (Rupees Eight Crores Sixty Eight Lakhs Only) to Arohan ESOP Trust on August 30, 2023 on preferential basis, which was approved by the shareholders at their Annual General Meeting held on August 07, 2023. Director’s Report
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