Moneyboxx Annual Report 2022 23

DEEP ROOTS.
BROAD VISION.
I n t e g ra t e d Re p o rt | 2 0 2 2 - 2 3
WHAT’S
INSIDE
Corporate Overview
01-42
`50.44 crore
02 About the Report
04 F ulfilling the Unmet Credit Needs of the
Missing Middle
Total Income
08 Message by CEOs
12 Our Value Creation Model
`338 crore
14 Stakeholder Engagement
16 Financial Capital
20 Manufactured Capital
Assets Under Management
24 Human Capital
28 Intellectual Capital
`543 crore
30 Natural Capital
32 Social and Relationship Capital
39 Our Governance Philosophy Cumulative Disbursements
41 Awards & Accolades
42 Corporate Information
Statutory Reports `93.48 crore

43-77
43 Board’s Report Cumulative Equity Raised

55 Management Discussion and Analysis
62 Corporate Governance Report
Financial Statements
75,000 +
78-105
78 Independent Auditors' Report Livelihoods impacted

84 Balance Sheet
85 Standalone Statement of Profit and Loss
86 Cash Flow Statement
88 Notes to the Financial Statements
Cautionary Statement
The statements made in this report describe the
Company’s objectives and projections that may be
forward-looking statements within the meaning of
applicable laws and regulations. The actual result might
differ materially from those expressed or implied
depending on the economic conditions, government
policies and other incidental factors which are beyond
the control of the Company. The Company is not under
any obligation to publicly amend, modify or revise
any forward-looking statements on the basis of any To know more, visit
subsequent developments, information or events. moneyboxxfinance.com
DEEP ROOTS.
BROAD VISION.
By serving the most underserved segment – the missing middle –
with business loans of `1-10 lakh in Tier-3 and below towns, we
have transformed the lives of over 75,000 borrowers to date.
Our deep roots in the unserved or under- Creating a positive impact on the society
served rural and semi-urban geographies
and strong connections with customers 27,000+ 55%
help us fulfil our broad vision of delivering Live Accounts of Customers are
Women Entrepreneurs
financial inclusion, bridging the credit gap
for micro-entrepreneurs and transforming
their lives. We strongly believe that our
ceaseless efforts to strive ahead with 34% Wide presence through
of Customers are 61Branches in
commitment have let us remain deep-
rooted and helped us attain our broad
New-to-Credit 6 States
Borrowers
vision of reaching the missing middle.
The combined 80 years of rich experience

of our core team, demonstrated execution, Gaining support from
735
robust asset quality, fully digitalised 25 Lenders Employee Workforce
processes and proven underwriting
capabilities enable us to have deep roots in
the financial ecosystem. Leveraging these,
we provide income-generating business
loans, fulfilling our vision of extending a
helping hand and bringing about a positive
impact on the society.
CREATING AN IMPACT
BEYOND LENDING
61,000+ 5,700+ 3,400

Cattle health screened Free Vet Consultations Fruit-bearing trees planted
ABOUT THE REPORT
BASIS OF REPORTING
Our Approach to Integrated Reporting Reporting Principle
As Moneyboxx Finance Limited proceeds with its 1st year The financial and statutory data disclosed in this Report is in
of Integrated Reporting, our endeavour to evolve in the line with the requirements of the Companies Act, 2013; Indian
journey of transparency and enhanced disclosures continues. Accounting Standards; the Securities and Exchange Board
The Integrated Report <IR> provides information about our of India (Listing Obligations and Disclosure Requirements)
performance across six capitals, efforts undertaken to create Regulations, 2015; and the Secretarial Standards. The non-
value, material risks and opportunities, strategy, safety and financial data has been prepared in accordance with the <IR>
sustainability, innovative steps, governance and beyond. framework of the International Integrated Reporting Council
(IIRC), and the guidelines issued by the Securities and Exchange
This Integrated Report is aimed at our shareholders, customers, Board of India (SEBI).
employees and society that provides both qualitative and
quantitative disclosures on our goals/objectives to create long- Boundary and Scope of Reporting
term value in line with our Mission, Vision and Values to enable The Report covers non-financial information from the start
such stakeholders to make informed decisions. of company's operations in February 2019 to March 2023
and the financial information is for the period April 1, 2022 to
March 31, 2023. The financial information has been audited by
Gaur & Associates, Chartered Accountants.
Moneyboxx contribution to United Nations Sustainable Development Goals

SDG SDG Goal Significance of the SDG for Key Outcomes
Moneyboxx Finance (February 2019 to March 2023)
To end poverty in all its oneyboxx intends to contribute to
M 7 5,000+ borrowers (including co-
forms everywhere reducing poverty by serving the missing borrowers) funded till date with a total
middle customer base disbursement of ` 5,430 million
End hunger, achieve L ivestock customers served by us assists 2 5,137 livestock loan accounts
food security and in promoting food security disbursed ` 3,606 million
improved nutrition Offering additional services for Veterinary services to
and promote the overall benefit and well-being 5,700+ customers
sustainable agriculture of customers Screened 61,000+cattle health
Regularly screening cattle health Median 8 cattle per farmer
Number of fruit-bearing trees planted 3,400 fruit-bearing trees planted
for food security
Achieve gender chieving gender equality by extending
A 1 9,327 female loan accounts with
equality, and empower micro-loans to women borrowers and ` 2,674 million disbursed
all women and girls creating value addition in their lives 100+ beneficiaries of FLCC training
Empowering women entrepreneurs by
imparting them financial literacy and
credit counselling (FLCC) training
Ensuring a diverse and inclusive workforce
Promote sustained, ositively impacting MSMEs which
P 1 2,588 MSMEs loan account funded
inclusive and help promote job creation and and ` 1,823 million disbursed
sustainable economic economic growth 75,000+ new jobs created
growth, full and Creating employment opportunities Provided veterinary services to
productive employment Offering non-financial services 5,700+ customers (health screening
and decent work for all to customers of 61,000+ cattle)
Strategic talent development, career
opportunities and employee learning and
development and well-being
2 Moneyboxx Finance Ltd.

01 CORPORATE
OVERVIEW 43 STATUTORY
REPORTS 78 FINANCIAL
STATEMENT
SDG SDG Goal Significance of the SDG for Key Outcomes

Moneyboxx Finance (February 2019 to March 2023)
Build resilient
Funding manufacturing segment
2,187 manufacturing loan accounts
infrastructure, customers to contribute in building funded so far with ` 330 million
promote inclusive sustainable industrialisation
and sustainable Technology-driven approach and
industrialisation and digital processes
foster innovation
Reduce inequality e contribute to reducing
W 1 9,327 women loan accounts and
within and inequality by inducing women to gain ` 2,674 million funded
among countries financial independence 400+ widows funded
10,978 New to Credit loan accounts
funded and ` 1,418 million
6,903 women New to Credit loan
accounts and ` 896 million funded
Make cities and e contribute to making cities and
W 6 1 cities supported with
human settlements human settlements inclusive and safe by disbursement of ` 5,430 million
inclusive, safe, resilient providing financial assistance to promote
and sustainable financial inclusion
Ensure sustainable W
e are constantly ensuring sustainable 25,137 livestock loan accounts
consumption and consumption and production of our with disbursement of ` 3,606 million
production patterns Agri borrowers and increase in their Vet services to 5,700+ customers
livestock asset 6 Livestock camps organised
Take urgent action to e constantly endeavour towards
W 3,400 fruit-bearing trees planted
combat climate change reducing our carbon footprint by planting
and its impacts fruit-bearing trees in the society
Fully digital approach to loan-related activity
Efforts to optimise energy consumption
Revitalise the Global e have partnership with several
W artnered with MSDF (Michael and Susan
P
Partnership organisations/stakeholders for Dell Foundation) for Impact Study
for Sustainable UN SDG Goals Engaged in multi-stakeholder
Development partnerships for impact initiatives
Our Value Creation Approach using the Six Capitals
Financial Intellectual Natural

Capital Capital Capital
This represents the pool of funds This represents our research & This represents our commitment towards
(equity and debt) available, which is used development capabilities and our ceaselessly contributing to reducing the
to meet the Company’s true purpose innovation quotient, which is core to carbon footprint in the environment by
and objective. enhancing our competitiveness. adhering to sustainability principles and
our intent to optimise the use of natural
resources and minimise the impact of our
operations on nature
Manufactured Human Social and

Capital Capital Relationship Capital
This represents our physical This represents our strong workforce This represents our community
infrastructure including our branch and their skills, knowledge and engagements and the investments we
network and all the other physical assets experience, which enables us to create make towards their development. Our
used to run our business operations. value for our stakeholders and ensure relationship capital represents our long-
sustained outcomes. term relationships with our customers
and how we satisfy their needs and the
communities we serve.
Integrated Report 2022-23 3

FULFILLING THE UNMET CREDIT
NEEDS OF THE MISSING MIDDLE
New-age, impact-focussed NBFC The driving force

Financial inclusion has improved for the borrowers at the With over 80 years of rich combined experience within our
bottom of the pyramid with more than 230 lenders active in the core team in the BFSI industry, we offer small-ticket loans
microfinance lending where average funding is less than ` 40,000, to micro-entrepreneurs and small manufacturers. With an
however, micro enterprises, especially, in rural areas, face severe exceptional execution capability and a well-managed capital
constraints in obtaining higher amount of credit. We aim to structure, we display growth and asset quality, despite a
drive financial inclusion by meeting the credit needs of these challenging external environment.
missing-middle micro-enterprises by extending unsecured and
secured loans from ` 1-10 lakh which can bring transformational
change in their lives. Further, we are committed to creating a
sustainable impact through various beyond-lending initiatives,
such as agro-forestry and vet consultancy.

01 CORPORATE
STATEMENT
Addressing the credit needs of the Underserved
Supporting deserving micro Geographic diversification Serving products across Serving Direct to
and small enterprises across • W
e have successfully the value chain Customer
sectors expanded operations to 61 • W
e offer Unsecured • W
e are successfully serving
We enable them to pursue their branches across six states Business Loans (up to ` 3 this segment by leveraging
entrepreneurial goals – engaged within four years, while lakh) and Secured Business technology with fully digital
in Livestock, Kirana,Trading and also maintaining robust Loans (up to ` 10 lakh) to processes (credit assessment
Small Manufacturers. asset quality our target customers to customer onboarding)
and proven underwriting
• T
oday, we are one of the and scalability
leading names in unsecured
business loans of up to ` 3
lakh in Tier 3 and below
towns in northern and Roadmap FY28
central India. We are also
steadily establishing our
presence in the secured
` 6,000+ crore AUM 400+ Branches
20X Growth 6X Growth
business loans ranging up to
` 10 lakh

Driving financial inclusion. Empowering micro-entrepreneurs in Bharat
OUR VISION OUR VALUES

To be “The Lender of
Choice” for deserving
micro enterprises in India
Customer Teamwork Excellence Integrity
satisfaction
OUR MISSION
To deliver easy, cost-
efficient and technology- Innovation Transparency Trust and
respect
driven financing solutions
to aspiring micro-
enterprises
Our Shareholding Pattern, March 31, 2023
54.28
romoters and
P
% Promoter Group
Public Shareholders
45.72
`338 crore
Total AUM
Stability and Resilience – Stable and Diversified Presence

with an AUM encompassing essential sectors in four years of operations
5.9 2.0 67.2 5.2 2.3 Rajasthan

8.4 Livestock 27.7
17.7 Madhya Pradesh
Trading Haryana
16.5 % Kirana % Punjab
Manufacturing Uttar Pradesh
Services 20.3
26.8 Chhattisgarh

01 CORPORATE
STATEMENT
On-ground team presence,

enabling strong understanding of
our customers, local economies Strong customer relationships
and sectors, and strong owing to a direct-to-customer approach
collection efficiency
WHAT MAKES
US DIFFERENT
Robust and proven underwriting Tech-driven approach with digital

capabilities with in-depth analysis processes, IT-enabled decision-
using traditional and alternative data making and strong analytics
and customised methodology for
different segments
Our Partnerships
EXISTING LENDERS
LENDING PARTNERSHIPS

MESSAGE BY CEOs
TO SHAREHOLDERS
Dear Shareholders,
We are delighted to share our thoughts with you
on the completion of fourth year of our business.
Today, despite the challenges, we have come this
far thanks to our vision, work culture, dedicated
workforce and support of all stakeholders for
their faith in us. It gives us immense gratification
to introduce to you all our first integrated report
and for this year, we have chosen the theme
“Deep Roots and Broad Vision”.
During the year, the Indian economy continued to show strong

resilience to external shocks, despite some signs of moderation
in growth. Spillovers from recent developments in the financial
markets in US and Europe posed a risk to short-term investment
flows to the emerging markets, including India. Although there
were significant challenges in the global environment, India remained
one of the fastest growing economies in the world.
The economy grew by 7.2% in FY23, underpinned by strong

investment activity bolstered by the government’s capex push
and buoyant private consumption. The economy emerged as an
outlier after maintaining its growth rate as amongst the highest
in comparison with other nations. RBI projects GDP to grow by
6.5% in FY24 as the Indian economy remains poised to sustain the
growth momentum.
MSMEs, the backbone of the Indian economy, are growing year

on year and facilitating development of rural and less-developed
areas. The sector contributes to socio-economic growth of the
nation and complements major industries, promoting innovation
among entrepreneurs. With their grit and perseverance, these
small business owners go on to create local jobs and contribute
to the growth of India’s economy towards the US$ 5 trillion goal.
Mayur Modi
Co-founder, Co-CEO

01 CORPORATE
STATEMENT
Deepak Aggarwal
Co-founder, Co-CEO
Moving ahead, the MSME sector is seen contributing 50% to

India’s GDP by 2025. Tier 3 cities and beyond are creating more
opportunities for people to utilise banking services and lead to
financial inclusiveness in the economy.
Funding India’s small entrepreneurs

At Moneyboxx Finance, we are a new-age impact investing NBFC,
making it possible for small business entrepreneurs to move towards
economic prosperity through income generation and job creation.
We envision a financially inclusive world where every entrepreneur
has equal access to capital. With our mission, we are committed to
transforming the lives of micro-entrepreneurs in tier 3 cities and
below, addressing the needs of underbanked sectors.
We are dedicated to the vision of inclusivity and growth as we

continue to drive financial inclusion through innovative solutions
and support MSME entrepreneurs. Our income-generating, secured
and unsecured, fast and flexible business loans empower micro-
entrepreneurs and small business owners, helping them expand
their business. In a short span of four years, we have emerged as
the “go-to” NBFC for small businesses, serving a loyal customer
base of 27,000+ live customers.
Being socially responsible

With a strong underwriting and distribution model and through our
beyond-lending impact initiatives, we have transformed the lives of
more than 75,000+ last-mile borrowers (including co-borrowers)
across 6 states through a transparent and secure process and
enabling growth in borrowers’ income. Despite the NBFC sector
bearing the brunt of increasing NPA levels, we possibly have the
lowest NPA in the industry because of our strong underwriting
process. Nearly 34% of our customers are “new-to-credit”, and first-
time borrowers, thus it assists in contributing to financial inclusion
and equal growth opportunities. Our unsecured business loans, with
ticket size of up to ` 3 lakh with up to 36 months loan tenure, serves
our customers in Tier-3 cities and below. On the other hand, our
secured loans are offered at up to ` 10 lakh ticket size with tenure
of up to 84 months and are primarily borrowed against residential
mortgage. We have ceaselessly continued to strive hard and our

MESSAGE BY CEOs
TO SHAREHOLDERS
lenders have also believed in our broad vision. Over the period
of time, we have gained strong support from a number of lenders
and as on date, we have various well-known banks and NBFC’s
184%
Y-o-y growth in AUM
in our lenders list.
We especially focus on borrowers in essential sectors and

maintain a granular portfolio, making most of the opportunities
in these sectors. By aligning ourselves with our key objectives,
we are assisting our customers in taking their business to the
`341 crore
Total disbursement in FY23
next level through competitive rates and quick approvals and
disbursals, and easy documentation. Our presence helps address
the increased credit demand amid booming small businesses and
agriculture landscape in the state.
from our lenders helps the organisation further our cause

We are also genuinely committed to making beyond lending
of supporting the deserving micro-enterprises and creating a
initiatives as core to our business operations. Our efforts in
positive impact. Our investors have completely believed in us
this regard include hiring qualified vets in branches to help our
in creating sustainable impact with financial inclusion of small
borrowers who are dairy farmers to promote and improve milk
business entrepreneurs.
yield, cattle breed and cattle health. Further, we also launched
agroforestry drive as we believe that this initiative has high
We reached an inflection point in profitability as we turned
potential to bring significant change in our borrowers’ income
profitable from Q4 FY23 onwards and reported robust business
and have a positive ecological impact in terms of improvement
growth, driven by solid unit economics with improving branch
in soil and air quality, water augmentation, food security and
productivity, growing share of secured lending business, and
sustainability. Such initiatives help us to deliver our value beyond
benefit of operating leverage with growing scale of operations.
numbers by contributing our small and fair part in the society.
Operational efficiency is consistently improving with increasing
AUM. Given our high degree of operating leverage, disbursements
Exploring potential of women entrepreneurs
grew and operating expenses declined from 24.5% of average
In the past decade, India witnessed a spike in the number of AUM in FY21 to 19.8% in FY22, and further declined to 15.4%
women-led small and micro enterprises, which has soared from in FY23.
2.15 lakh to 1.23 crore, accounting for 20% of domestic MSMEs.
Disbursements more than trebled to ` 341 crore from ` 112
At Moneyboxx, our special focus is on promoting financial crore in FY22, driven by branch expansion. Supported by
inclusion by empowering women-led businesses and helping them strong disbursement growth and improving branch productivity,
access the necessary financial aid to grow their establishments AUM grew 184% to ` 338 crore as on March 31, 2023, in
through various products and endeavours designed especially comparison with ` 119 crore as on March 31, 2022, led by
for them and help them realise their dreams. Nearly 55% of strong business growth and lending partnerships. Total Income
our borrowers are women entrepreneurs. By accessing our grew 116% at ` 50.44 crore, compared with ` 23.31 crore in
products and solutions, women entrepreneurs can express their FY22, in line with strong growth in business and AUM. Robust
creativity and skills, expand their business, generate employment underwriting standards and focus on borrowers in essential
possibilities and contribute to economic growth. sectors (livestock, kirana, retail traders, micro-manufacturers)
helped us build a robust loan book with low NPAs and high
Year in retrospect collection efficiency.
It was an important year for the Company as we raised ` 48.38
crore equity capital by way of private placement, after having A digital-first process
raised ` 14.42 crore in December 2021. We strengthened Our robust and highly scalable business model is powered by
our capital position with these equity fund raises, and plan entirely digital process and risk analytics. We are becoming a
to utilise these funds to expand our scale of operations and fast-growing new-age NBFC underlining the cause of financial
tap growth opportunities. Growing and continuous support inclusion with tech-driven deployments. As technology becomes

01 CORPORATE
STATEMENT
With growing and continuous support from our lenders,

co‑lending partnerships and planned capital raise, we plan to
reach an AUM of ` 800 crore and 100 Branches by FY24,
amid steady demand and increased distribution.
the key driver for financial inclusion, we understand the shift, Thank you, shareholders
demonstrated financial prudence and invested in technology. Our vision is to become a full-suite financial intermediary for
We are on a promising track of growth and underlining the borrowers in terms of offering a loan product, which is the main
cause of financial inclusion through tech-driven innovations.We bread and butter and also support them through our various
operate via a physical and digital model as we leverage local beyond lending initiatives to help them in significantly improving
branch presence for effective sourcing of customers and have their income. We continue our core objective of serving the
adopted a fully-digital approach for all our activities – right from needs of MSME customers and continuing our mission to
sourcing to disbursement and collection. accelerate access of secure and affordable credit to customers
and encouraging financial inclusion.
Future growth strategies
Going forward, we are on a scalable and sustainable growth Before we conclude, we take this opportunity to thank our Board
path and serving more and more customers by increasing our & all stakeholders for their continued support. Our journey of
geographic presence and touchpoints and improving liquidity sustainable growth, delivering access to capital through impact
with co-lending. Moving ahead, we are capitalising on the initiatives would not have been possible without the continued
tremendous growth opportunity in ` 1-10 lakh segment, given support of our leadership team and our employees, customers,
the huge credit gap for micro enterprises and presence of partners, regulators and other stakeholders.
few focussed players. Our target for FY28 is to have an AUM
growth of ` 6,000+ crore (20X) with 400+ branches (6X). We also look forward to working with each of them to
move towards an even better and brighter future for
Going forward, we see tremendous growth opportunity in Moneyboxx Finance.
` 1-10 lakh loan segment, given the huge credit gap for micro
enterprises and presence of few focussed players. We have Thank you for your trust and ongoing support.
proven business model to service the segment with robust
underwriting practices and one of industry’s best asset quality Best Regards,
metrics (90+ PAR at 0.59% of AUM on March 2023). With
growing and continuous support from our lenders, co-lending Mayur Modi and Deepak Aggarwal
partnerships and planned capital raise, we plan to reach an AUM Co-CEOs
of ` 800 crore and 100 Branches by FY24, amid steady demand
and improved distribution.

OUR VALUE CREATION MODEL
INPUTS OUR BUSINESS MODEL
Our business activities are designed to create value for and

Financial Capital through our Five Stakeholders:
Business Loans for 5

Micro Entrepreneurs
Total Equity raised ` 93.48 crore Stakeholders
Total Debt sanctioned to date - Society Customers Employees Investors Regulator
` 411.48 crore
Manufactured Capital VISION VALUES

OUR
VALUE
61 Branches in 6 States SYSTEM
Intellectual Capital MISSION

Product innovation, Service
excellence, Tech-driven approach
Value
and digital processes
to Society
Human Capital
Impact Key
735 Employees
Valuation Drivers
697 Male Employees
KEY
38 Female Employees ELEMENTS
Employee benefit expenses: OF OUR
` 2,565.12 lakh BUSINESS
Diverse and inclusive workforce MODEL
Low attrition rate - 18%
Leading Business
Services Model
Social and Relationship Capital
(C-SAT) Customer satisfaction

survey/(NPS) Net promoter score
- 85
Our Value Creation Approach
` 25,00,000+ Social Investments
27,000+ Live Accounts MEASURING OUR IMPACT PURPOSE BEYOND PROFIT
25 Lenders We employ impact evaluation We closely monitor and respond
techniques to benchmark and to society's needs while directly
analyse our performance contributing to tackle India's key
Natural Capital issue of financial inclusion
Vision to be Carbon Neutral
Number of fruit-bearing trees ENABLING BUSINESS TOWARDS LONG-TERM
planted - 3,400 We enable our customers to SUSTAINABLE GROWTH
gain financial access through We ensure long-term stability and add
Investment in tree plantation -
` 5,00,000+ our products and services, direct value to the society through
which further multiplies our our continued pursuit of growth and
Employee digital card investments
positive impact excellence across all areas of the business
for lesser use of paper - ` 74,000+

01 CORPORATE
STATEMENT
OUTCOMES OUTPUTS
Driving Increased Financial Inclusion Financial Capital

S erving the most underserved segment AUM - ` 338 crore
Our Purpose
– the Missing Middle (` 1-10 lakh) Total Income - ` 50.44 crore
Driving Financial Inclusion
and addressing the needs of ccess to finance for agri-preneurs and
A GNPA - 0.59% of AUM
the Missing Middle micro-entrepreneurs NNPA - 0.30% of AUM
E mpowering women and strengthening
credit history Manufactured Capital
Diversified AUM across geographies
Transforming Lives Serving customers in Rajasthan, Punjab,
Business Model 7 5,000 borrowers funded – with 55% Madhya Pradesh, Haryana, Uttar Pradesh
Women and 34% New-to-Credit and Chhattisgarh
Tech-enabled Approach
ransformational change in monthly
T
and Analytics
income of borrowers Intellectual Capital
o F acilitating doubling of income in Low NPAs
Business Strategies 3 years Robust asset quality
S erving customers in Tier 3 cities IT-related investment
and beyond • WhatsApp bot for customer acquisition
Strong Customer • Moneyboxx Learning Centre
Beyond-lending Initiatives
Connect • Digital card for employees
E nsuring holistic cattle health
management, feedstock advisory, cattle Human Capital
Underwriting breed and improvement in milk yield
Capabilities Learning and development initiatives
o 61,000+ Free cattle diagnosis
Employee engagement initiative
E nabling plantation of free fruit- Employee demographics and age
Risk Management bearing trees Employee surveys
o 3,400 Fruit-bearing trees planted Training investments in FY23
o Elevating farmers’ income ` 12,00,000+
Strong Corporate o E nabling sustainable socio- Annually average training hours per
Governance Structure economic development employee - 18 hrs
o C
reating positive socio-
ecological impact
Having customers across sectors
SDGs Scalable and Asset-Light Model Cumulative disbursements - ` 543 crore
S trong and stable asset quality with Serving customers through Secured and
low Non-Performing Assets Unsecured Business Loans
F ocus on essential sectors leads to 55% Women Borrowers
stability and business resilience 34% customers are new-to-credit (NTC)
S calable model with proven branch 5,700+ Free Vet services and 61,000+
unit economics cattle health screened
Improving staff productivity and 7,100+ Beneficiaries reached from
Social Investments
branch expansion
obust systems and processes from
R Natural Capital
credit assessment to onboarding to
Energy consumption – 1,02,300 units
disbursement and monitoring
Biodiversity protection and carbon
sequestration through trees planted

STAKEHOLDER ENGAGEMENT
Onboarding stakeholders for an open and fair dialogue is important for our long-term
sustainability and to uphold our strong values. At Moneyboxx Finance, we work with
a wide range of stakeholders on a series of shared goals. Our stakeholders include
employees, investors, customers, society & community and regulators and are recognised
on the basis of factors such as impact.
What matters to them How we engage with them What we deliver
SOCIETY AND COMMUNITY
Access to finance Interaction with key societal esigning products to meet

D
Improved credit history participants (customers, think-tanks, customers’ needs
governments, regulatory bodies) L everaging technology to
Income enhancement
ur business strategies,
O grow rapidly
Entrepreneurship
values, philosophies Operating in Tier 3 and beyond cities
Employment opportunities
rganising livestock awareness and
O F unctioning with transparency
pportunities in Tier 3 and
O financial literacy camps and honesty
beyond cities
SR engagements such as
C
Livestock capital and productivity tree plantation
Gender inclusion
C U S TO M E R S
Domain expertise Loan Relationship Officer Dedicated customer service

Quick resolution of issues Branch Credit Officer Fairness and transparency
Fairness in dealings ustomer lifecycle
C Tech-led omnichannel experience
management team
Transparency
SMS and calls
Access to services
Feedback surveys
Service excellence
onnect through free doorstep
C
veterinary services
E M P L OY E E S
Career development opportunities Internal publications and circulars Employee well-being

Regular training Performance updates Rewards and recognition
Responsible grievance handling L&D initiatives Learning and development
Work-life balance Employee engagement initiatives Career development
Feedback and surveys

01 CORPORATE
STATEMENT
I N V E S TO R S
Shareholder value creation Shareholder Meetings

Regular communication of
Corporate governance (AGMs and EGMs) business strategy through
Annual Reports investor presentation
Compliance and transparency
Investor Presentations Non-financial disclosures
Efficient risk management
Increased investor engagement
imely communication of
T
material information
isclosure of non-
D
financial metrics
R E G U L AT O R S
E fficient management of Periodic filings / meetings dedicated communication team

A
regulatory changes ther forms of communication like
O for Regulators
imely reporting, statutory and
T e-mails, letters, etc. esponding to authorities in a
R
legal compliance timely manner
F air treatment of customers,
investors and other stakeholders

Financial Capital
Meeting the credit needs of the Missing Middle
SDGs Impacted
Our Approach Addressing unmet credit needs of the underserved

With business loans to micro-entrepreneurs and agri-preneurs We are empowering micro-entrepreneurs by providing income-
in rural India, we provide them access to finance, strengthening generating business loans and driving financial inclusion. Our
agricultural and rural enterprises. Our presence helps to address vision is to become a full-suite financial intermediary for
the increasing credit demand amid booming small businesses and borrowers in terms of offering a loan product. Nearly 55% of
the agriculture landscape. of our customers are women entrepreneurs, while 34% are
New-to-Credit. By offering business loans, we bring about a
transformational change in the income of our customers in
Key Outcomes
livestock, kirana, trading and other segments.
ccess to finance for agri-preneurs and micro-
A
entrepreneurs Till date, we have transformed over 75,000 lives (including
Women empowerment - 55% customers served co-borrowers) across six states in India, and aim to impact
are women 1 million lives in the next five years.We cater to the underserved
Transformational change in income micro-entrepreneurs in the important and essential segments
Financial inclusion - 34% new-to-credit borrowers (livestock, kirana, retail traders, micro-manufacturers) by
extending unsecured and secured business loans from ` 70,000
Poor access to finance is a huge barrier in strengthening to ` 10,00,000 for loan tenure of 12-84 months.
agricultural and rural enterprises. Our scalable and sustainable
business model facilitates us in tapping the tremendous
growth opportunity in the ` 1-10 lakh underserved segment
and fulfilling the huge credit gap for micro-enterprises.

01 CORPORATE
STATEMENT
Serving Micro & Small Enterprises
Gain deep Providing innovative Strengthening credit Serving customers with

understanding of products, inflexible history and formal insufficient business
micro-entrepreneurs loan terms, customised source of funding to documentation in
and their businesses, tenure and payment our New-to-Credit relation to access
through on-ground structure, and easy customers to finance
presence and using collateral requirements
technology in to serve the precise
credit underwriting needs of customers
and delivery
Bringing transformational change in farmers’ income

Doubling of monthly income within three years
`50,000
`35,000
`25,000
Year 0 Year 1.5 Year 3
5 7 10
Livestock cattle Livestock cattle Livestock cattle
History of Equity Infusion
Date Equity Infused by Fund raised (` crore)

March 2019 Promoters and Non-Promoters 19.03
February 2020 Promoters and Non-Promoters 11.65
December 2021 Non-Promoter Investors 14.42
June 2022 Non-Promoter Investors 20.77
September 2022 Warrants issued to Promoters 3.36
March 2023 Non-Promoter Investors 24.26
93.48

Improving profitability with growing scale of Our financial inclusion journey
operations Moneyboxx started lending operations by opening its
Total Income grew strongly by 116% to ` 50.44 crore in first branch in Bharatpur, Rajasthan in February 2019
FY23 compared to ` 23.31 crore in FY22, in line with strong and since then has successfully expanded its presence to
growth in business and AUM. With a BBB- Stable credit rating 61 branches across 6 states and AUM of ` 338 crore as of
assigned in FY23, improved funding visibility from banks and March 2023. With cumulative disbursements of ` 543 crore,
lending partnerships, rising branch productivity with maturing the Company has transformed lives of more than 75,000
operations, and growing AUM, we reached an inflection point in micro-entrepreneurs.
profitability in Q4 FY23, posting profit after taxes of ` 0.42 crore
compared to a net loss of ` 2.70 crore in Q3 FY23. Focus on asset quality
We have strong asset quality and low credit costs due
Our unit economics continues to be strong with healthy NIM
to our robust underwriting standards, strong collection
margins. Declining marginal cost of borrowings, improving branch
efficiency and focus on essential sectors. Our best-in-class
productivity with increased share of secured lending business,
asset quality is underpinned in a low Gross NPA of 0.59%
and benefit of operating leverage with the growing scale of
and Net NPA of 0.30% as on March 31, 2023. We follow
operations are levers of further improvement in profitability.
a ‘direct-to-customer’ approach and robust sector-specific
underwriting practices.
Improving operating efficiency
Operational efficiency has been consistently improving with
increasing AUM and given that the business has a high degree
of operating leverage, Opex % declined from 24.5% of average
AUM in FY21 to 19.8% in FY22 and further declined to 15.4%
in FY23 (14.5% in Q4 FY23)

01 CORPORATE
STATEMENT
Strong and adequate capitalisation Finance Bank), leading NBFCs (Tata Capital), global impact
Gearing and Financing Strategy funds such as OIKO Credit (Maanaveeya Development &
Finance Private Ltd.), a Netherlands-based Impact Fund, and
We are constantly strengthening our capital position with
Caspian Impact Investment Private Limited.
equity fund raises from time to time. Our plan is to utilise
these funds for expanding our operations and tapping future
growth opportunities. We have raised an equity capital of
` 93.48 crore since inception, and ` 48.4 crore in FY23. Our `76.40 crore
co-founders have also committed ` 13.45 crore warrants
Net Worth as on March 31, 2023
fully convertible into equity, of which ` 3.36 crore has been
received in September 2022. Our leverage ratio (TOL/Net
Owned Funds) was comfortable at 3.67 as of March 31, 2023,
with equity infusion during FY23.
`19.03 crore
Net Worth as on March 31, 2019
Debt raising
We have also raised total debt of over ` 412 crore from 25
leading institutional lenders till March 31, 2023, validating our
business model. Our portfolio of lenders includes top banks (SBI, `93.48 crore
DCB Bank, IDFC First, AU Small Finance Bank and Utkarsh Small Total equity raised since inception
KEY FINANCIAL INDICATORS

AUM (` crore) Total Income (` crore) Equity (` crore)
338.11 50.44 76.40
23.31 34.51
119.05 27.13 24.15
61.88 11.00
29.28 4.12
FY20 FY21 FY22 FY23 FY20 FY21 FY22 FY23 FY20 FY21 FY22 FY23
GNPA (% of AUM) NNPA (% of AUM)
0.62% 0.59% 0.31% 0.30%
0.21% 0.11%
0% 0%
FY20 FY21 FY22 FY23 FY20 FY21 FY22 FY23

Manufactured Capital
SDGs Impacted
Our Approach
A unique credit approach steers us in spreading risk strategically Products aimed at driving financial inclusion
across sectors and geographies to ensure lesser risk of conditions
affecting sectors. We are working on further expanding our Product No. of Loans
footprint by expanding branch network and product portfolio,
Moneyboxx Vyapar Loan 471
strengthening distribution and diversifying into new geographies.
(Mortgage Secured)
State-wise loans Moneyboxx Vyapar Loan (Quasi Secured) 148
State No. of Loans Moneyboxx Vyapar Loan (Unsecured) 26,960
Haryana 5,826
Grand Total 27,579
Madhya Pradesh 6,885
Punjab 5,300
Rajasthan 7,679
Uttar Pradesh 1,414
Chhattisgarh 475
Grand Total 27,579

01 CORPORATE
STATEMENT
New and under-served geographies served Operational performance of FY23

in FY23
Branch Name State Name 61 `338 crore
Branches AUM
Yamunanagar, Sonipat, Ambala, Haryana
Sirsa, Rewari
Ashta, Dhamnod, Biaora,Vidisha, Madhya Pradesh

735 `341 crore
Employees Gross Disbursements
Bhopal, Khategaon, Shujalpur
Khanna, Hoshiarpur, Raikot Punjab

27,579
Meerut, Bulandshahar, Uttar Pradesh Number of active
Gorakhpur, Lucknow, Kanpur, loans as of
Varanasi, Ayodhya March 31, 2023
Hanumangarh, Jhunjhunu, Rajasthan

Chomu, Bijainagar,
Jhalawar, Rajsamand
Our robust underwriting standards and focus on borrowers
Rajnandgaon, Bilaspur, Raipur Chhattisgarh in essential segments (livestock, kirana, retail traders, micro-
manufacturers) have helped in building a robust loan book with
low NPAs and high collection efficiency.
Asset-light Model We expect sustained productivity improvement going forward

driven by: (i) focus on secured products, (ii) steady-state
We have a highly scalable and asset-light branch model. Our
operations and increasing branch vintage, (iii) stable sources
branch network increased from 30 branches with AUM of ` 119
of funding, and (iv) rising share of repeat loans with higher loan
crore in March 2022 to 61 branches and AUM of ` 338 crore in
ticket size.
March 2023, leveraging the underserved loan segment of ` 1-10 lakh.
Today, we remain well positioned to grow our assets and further Our disbursement and AUM growth is fortified by branch
expand presence through our proven operating model and branch expansion and improving productivity and the strengths of our
unit economics. operating model:
Improving branch productivity • irect-to-customer: We follow a direct approach

D
Our branch productivity improved during the year, well supported without any DSA or third party which results in a better
by normalisation of economic activity post-pandemic and a strong understanding of local economies, sectors, customers, and
rebound in disbursement. With strong credit demand and branch build long-term relationships
expansion, disbursement increased by over 3x during the year to
` 341 crore. Supported by growth in disbursement and improving • obust underwriting & Leveraging IT: We have a robust
R
branch productivity, the AUM grew 184% year-on-year to ` 338 underwriting process backed by IT-enabled decision-
crore as on March 31, 2023, compared to ` 119 crore as on making and strong analytics, resulting in best-in-industry
March 31, 2022. asset quality (GNPA 0.59% of AUM) and cumulative
collection efficiency of over 98%
Driven by rising branch productivity and expansion, we crossed
the ` 300 crore+ AUM milestone and are further augmenting the • S trong collection mechanism and local intelligence enabled
physical presence. During the year, we expanded our operations by its on-ground presence
in Chhattisgarh by opening three branches at Raipur, Bilaspur and
Rajnandgaon. To scale our footprint further, we plan to strengthen • S trong Management: The Company is led by a team of
our distribution in some of our existing markets and diversify professionals with decades of experience in the industry
into newer geographies by expanding our branch network and and has a coveted independent board member who are
product portfolio. industry veterans

Expanding our presence
Branches Mar’20 Mar’21 Mar’22 Mar’23

Rajasthan 5 8 10 16
Madhya Pradesh 3 5 7 14
Haryana 2 5 7 12
Punjab 1 4 5 8
Uttar Pradesh - - 1 8
Chattisgarh - - - 3
Total 11 22 30 61
Corporate Office
8 Head Office
12
8
16
14
3
All numbers are dated as on March 2023

01 CORPORATE
STATEMENT
Business & Mar-21 Mar-22 Mar-23

Improving geographic diversification: % AUM by State
Operations
Branches 22 30 61 5.2 2.2
27.7 Rajasthan
Branches Added 11 8 31 17.7
Haryana
Headcount 228 313 735
Madhya Pradesh
Gross 55 112 341 % Punjab
Disbursements
Uttar Pradesh
(` crore)
20.3 Chhattisgarh
Ind-AS AUM 62 119 338 26.8
(year-end, ` crore)
Growth Strategy
The underserved business loan market in semi-urban and rural We launched secured business loans in FY23 and see huge
areas holds huge growth potential. We plan to capitalise on growth potential in this segment considering an estimated ` 22
this opportunity by expanding our branch network in existing trillion market potential for residential property-backed small
and newer states, focussing on secured lending and diversifying business lending. (Source: CRISIL Research)
product offerings through the launch of other financial products
and services. As part of our long-term growth strategy, we see the potential
to grow the branch network to 400+, while also targeting an
While there are over 230 lenders present in microfinance sector, AUM of over ` 6,000 crore by FY28
where the average ticket size is less than ` 50,000, the market for
` 1-3 lakh unsecured business loans is severely underserved
with very few focussed players addressing this segment.

Human Capital
SDGs Impacted
Our Approach
At Moneyboxx, we greatly value our human capital. We recognise
the significance of this invaluable resource and actively contribute
735 313
Headcount as on Headcount as on
to unlocking their full potential, while ensuring their values align
March 31, 2023 March 31, 2022
harmoniously with our institutional ethos. Our organisational
framework emphasises on cultivating and enhancing the core skills
and competencies of our dedicated team members. We make Key initiatives in FY23
deliberate investments in their professional growth and development, During the year , we focussed on creating a positive work
thereby fostering a continuous enhancement in their skills. environment and fostering a culture that help everyone better
understand the organisational goals. We also directed our efforts
Key Outcomes towards strategic talent acquisition, meticulously selecting individuals
whose capabilities align with our growth strategies and plans.
Creating a differentiated impact
roviding employment opportunities to people from varied
P Strategic talent management
socio-economic background in Tier-3 cities and below
The expansion of our workforce, the calibre of talent acquired, and
F ulfilling aspirations of those possessing the required skills the unwavering dedication to retaining our valued team members
and competencies are instrumental in propelling our organisation. Focussed on this,
we have implemented a robust talent management approach.
E stablishing an inclusive workplace that encourages diversity
across all hierarchies, while providing multifaceted avenues for Our talent acquisition process is aimed at targeting skilled
talent cultivation and advancement professionals who resonate with our values and mission. Through
the cultivation of a diverse and inclusive workplace culture, we
We are committed to fostering a supportive workplace that have successfully attracted top-tier talent from various industries,
promotes ongoing learning, inclusivity, equality, and a healthy infusing our organisation with fresh insights and innovative ideas.
atmosphere for all. The creativity of our team is crucial for ensuring This has bolstered our operational capacities and empowered us
smooth operations in this evolving landscape. As we expanded our to embark on new initiatives, contributing to overall success. Our
operations this year, our workforce grew significantly by 134%, prosperity also hinges on the quality of hires, which is ensured
reaching 735 employees as of March 31, 2023, compared to 313 through stringent selection process, comprehensive background and
on March 31, 2022. reference verifications.

01 CORPORATE
STATEMENT
Nurturing and retaining existing talent is equally vital. In FY23, we driven improvements, focus on work-life balance, employee well-
maintained a low attrition rate of 18% led by our commitment to being, and competitive compensation packages also contributed to
fulfilling the needs and aspirations of our valued employees and increased loyalty.
providing them opportunities for professional growth. Feedback-
Learning Career Opportunities Employee- Reward & Recognition

and Development We help the employees Centric Approach We duly honour and
Our comprehensive reskill and upskill At the heart of our acknowledge deserving
learning and development themselves, and through Company’s ethos lies the employees through well-
initiatives instil confidence internal job postings, we motto ‘One Team, One structured reward and
and present captivating provide career progression Dream’ wherein regardless of recognition mechanisms.
challenges. We recognise the and growth, and cross- their job title or position in Upholding our belief in
significance of consistently functional opportunities. the team, they are valued for collective prosperity, we
enhancing our employees' We ensure that the right what they bring, do, and have extend employee stock
skills. To this end, we have talent is acquired at our to say. It's the diversity of options as a testament to our
established an internal workplace and each people and their views, ideas, commitment to rewarding
learning hub - Moneyboxx employee is given a space and experiences and valuing and retaining valuable team
Learning Centre - where to grow at the right pace. these differences that make members. Nurturing loyalty
an array of online courses us stronger. and enhancing productivity
are accessible, empowering necessitates fostering
employees to learn at their an environment where
own pace. Additionally, our employees feel genuinely
employees receive daily valued and supported. Our
online insights encompassing approach includes periodic
soft & technical skills, updates certification and award
Employee Engagement Culture
on company policies and programmes to recognise
We have deeply ingrained of Communication
compliances, and more to and applaud the right talent,
augment their knowledge. the principle of effective We actively cultivate effectively boosting their
employee engagement a culture of open motivation and encouraging
considering its pivotal communication, a foundation continuous excellence.
role in ensuring positive for fostering trust, equity,
and productive work and transparency throughout
environment. To this end, we the organisation. This is
commemorate significant realised through consistent
festivals like Diwali and and meaningful interactions
Employee Well-being Christmas, alongside national among team members,
Our comprehensive "Well- holidays like Independence superiors, and colleagues at
being Program" boosts Day and Republic Day, forging all levels.
overall health, physical fitness, a sense of unity and shared
and general well-being of celebration. This commitment
our employees. It includes extends to marking personal
rewarding employees for
accomplishing their goals
milestones such as birthdays,
fostering camaraderie
Our L&D lead, has been
and encouraging a holistic through get-togethers,
Fun Days, and the lively
honoured as one of the
approach to their wellness.
Moreover, we prioritise tradition of Secret Santa distinguished Top 20 L&D
our employees' health by exchanges. The appreciation
providing comprehensive of exceptional contributions Visionary Leaders at the
health and personal is vital, we have instituted
accidental coverage employee recognition prestigious 8th L&D Vision &
Additionally, we promote programmes, exemplified
financial stability with a staff by the motivational Innovation Summit & Awards
loan option, ensuring their initiative "Contest
well-being on multiple fronts. Lakshya," encouraging in 2023.
consistent excellence.

Our Employee Demographics
Gender Diversity Experience

6 14
Males
Experienced
% %
Females Freshers (less than
1 year of experience)
94 86
Average Age Location

11 40
Up to 35 years Native to branch

% % location
More than 35 years Located outside
branch
89 60
Training
`12,00,000+ 18 hours
Total training Average annual training
investment hours per employee

01 CORPORATE
STATEMENT
Employee survey results

How would you rate your level of happiness 4.4 How well do you get along with people on 4.4
at work? your team?
769 Responses 93 Comments 769 Responses 70 Comments
Hate It Not At All

1 1% 4 responses 1 0% 2 responses
Bored Not Much
Yah-Nah Neutral
Happy Good
Awesome Extremely Well
I feel proud to tell people 4.3 Do you feel your skills and abilities are well 4.3
where I work utilised in this job?
769 Responses 50 Comments 769 Responses 52 Comments
Strongly Disagree Strongly Disagree

Disagree Disagree
Neutral Neutral
Yes I Do Believe Yes I Do Believe
Strongly Believe Strongly Believe
Employee testimonials
“Hi, my name is Divya. It's been a great journey

“Hey, I'm Rahul and I'm working with the finance team at
since I joined as a Credit Manager. Individual
Moneyboxx. Here, we have a great culture. All our seniors
talent is appreciated and given a chance to
and colleagues are super friendly and we get to learn from
learn, grow and build a vast knowledge. What
each other. The culture here is really cool for everyone.
I like most about working here is that the
We support each other, we learn together and we achieve
entire framework is designed keeping in mind
together. And the best part is that we celebrate all our
its people, customers and employees as well.
achievements together. It provides us a great culture
Encouragement of people working around me
to work at Moneyboxx. We are a team of young and
helps me to bring a lot of positivity into my
enthusiastic people. We have seniors who carry a lot of
personal and professional both aspects of life.
experience in the domain. It's always a fun day at work and
Thank you Moneyboxx.”
never a dull day. Thanks.”
RAHUL
DIVYA
Finance Manager
Central Credit Manager
“I am Deepanshu Gupta working in the Impact

department. I love the freedom, fun and boldness that “I am Disha Khattar working in the Compliance
comes with my career at Moneyboxx as well as the department. Moneyboxx is an employee-friendly
unique entrepreneurial spirit and support from the organisation which definitely promotes an inclusive culture.
management that can be felt throughout the company I believe when you work with the right people and possess
which generates a sense of belongingness and faith right attitude you can learn and evolve a lot here. My
towards the Moneyboxx. personal journey has been good so far and I am glad to
Thank You.” be a part of Moneyboxx.
Thank you.”
DEEPANSHU GUPTA DISHA KHATTAR

Impact and ESG Manager Assistant Manager, Compliance

Intellectual Capital
SDGs Impacted
Our Approach Leveraging technology to democratise right to credit

To continue the innovation journey and stay relevant at all times We are working towards offering financial products and solutions
backed by advanced technology to build a robust management system. in a fast, efficient and scalable manner to democratise the right to
This also involves investing in people skills and new partnerships. credit. To leverage the power of technology in digitising processes,
analytics and decision-making, we continue to make significant
investments in IT infrastructure. We combine human knowledge
Key Outcomes and technology to understand underserved micro enterprises and
Launched new technology initiatives of WhatsApp bot and deliver quick financing solutions to them in a viable, easy and cost-
digital ID card effective manner. Further, we extend loans to customers with limited
Introduced the innovative Moneyboxx Learning Centre for or no recorded credit/income history through our proprietary
augmenting employee knowledge credit assessment process.
E nhancement in customers and employees experience through Using analytics

innovative use of technology
We analyse customer and their enterprise data using advanced
analytical techniques for effective underwriting.
Technology and MIS
Application Brief
Loan Management Advanced cloud-based Loan Management System integrated with banks, credit bureau, insurance and
System lending partners.
HRMS HRMS is implemented for employee lifecycle management starting from onboarding, payroll and
HR compliance to separation.
SD-WAN SD-WAN technology deployed for branch networking over broadband connections. It provides centralised
management of the network through Mobile and Web applications.
Analytics Business Intelligence tool has been implemented for interactive dashboards and business analytics. It is
integrated with HRMS, ILMS and accounting software and is being used for periodic performance review.

01 CORPORATE
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Growing with Bharat

We are ensuring financial inclusion by:
Leveraging technology (in the absence of availability of GST/
ITR/Banking records of customers, delivering credit through
customer connect and data-driven underwriting)
L evelling up by going 100% digital (quicker customer onboarding
and loan approvals, paperless process)
Transforming lives (serving the underserved)
A tech-driven operating model

At Moneyboxx, we operate via a physical and digital model, leveraging
our local branch presence for effective sourcing of customers
and adopting a fully digital approach for all activities right from
sourcing to disbursement and collection. We employ proprietary
underwriting methodologies for each customer segment. We have
implemented, a next-generation, cloud-based fully integrated Loan
Management System platform with AI-enabled decision-making WhatsApp bot for customer acquisition
algorithm in addition to other features that ensure fast deployment We have launched WhatsApp bot as a powerful tool for lead
and scalability at lower costs. All the information about the customer generation and marketing. Its ability to engage with potential
is captured in an Android Mobile & Web application. This expedites customers, capture leads, and provide personalised experiences had
movement of information across levels and helps in bringing down a significant impact on our business. By leveraging this technology,
the origination and operational costs.We also have API integrations we streamlined our marketing efforts, increased lead conversion
with credit bureaus and banks for CMS activities (disbursement rates, and enhanced customer satisfaction, ultimately driving growth
and collection). and success in the digital landscape.
Key initiatives in FY23 Co-Lending partnership

Digital ID Card During the year, we entered into Co-lending partnerships with
We have started issuing digital ID cards to our employees, Vivriti Capital Limited, MAS Financial Services Limited, and Utkarsh
replacing the conventional practice of issuing physical cards. The Small Finance Bank. These strategic partnership will help us utilise
initiative contributes significantly to reducing our carbon footprint our resources in an optimal manner, increase customer reach and
by eliminating the need for paper and plastics associated with create value for the lending partners.
physical cards. This will help conserve trees and energy used in
paper production as well as prevent pollution associated with We will continue to expand the co-lending partner networks,
plastic manufacturing. Digital cards can also be instantly delivered collaborating with a diverse range of lenders to leverage their
to employees' devices, eliminating shipping-related carbon emissions respective strengths. This will enable us to offer a wider range of
from physical card delivery. Further, digital cards enable remote loan products and cater to a broader customer base.
access and verification, reducing the need for employees to travel
to specific physical locations and thus associated carbon emissions. Nominated for Impact Study
We have been nominated for a three-year longitudinal impact study
Moneyboxx Learning Centre by Michael & Susan Dell Foundation to assess the impact of credit
For employee engagement and continuous capacity building, we have provided to nano enterprises. We were recently featured in one
launched Moneyboxx Learning Centre. It systematically imparts such study conducted by the experts at LEAD Krea University and
job-related knowledge, training and skills to expedite learning and MSDF. It helped enhance our understanding about the segmentation
drive change in the attitudes of the employees towards colleagues, and the strength that lies in serving the local.
supervisor and the organisation.

Natural Capital
SDGs Impacted
Our Approach
Natural resources are depleting rapidly, leaving a lasting impact e have adopted a fully digital approach for all loan-related
W
on the environment. Through prudent planning and the right activities, from sourcing to disbursement and collection,
collaboration, we ensure that our operations make judicious which has significantly reduced paper consumption equivalent
use of natural resources by preserving and protecting them and to saving 265 trees
reducing our carbon footprint. In this regard, we are intending e have rolled-out employee Digital ID card initiative which
W
to become a resource-consious business by focussing on is contributing to a significant reduction in paper and plastic
natural capital. consumption, reducing associated carbon emissions and
pollution owing to their manufacturing and distribution
Key Outcomes
1,02,300 units of energy consumed
We have significantly reduced our carbon footprint by
planting 3,400 fruit-bearing trees with an investment of over
` 5 lakh

01 CORPORATE
STATEMENT
Key initiatives in FY23

Tackling climate change with Agroforestry
In FY23, we began our agroforestry initiative to support our Our end-to-end digital approach and processes adoption, right
agri-entrepreneur and dairy farmer borrowers in planting from onboarding to credit assessment to approval, disbursement,
fruit-bearing trees which can substantially elevate their income collection, reporting and analysis has significantly reduced paper
and contribute to combating climate change. The initiative, usage and carbon footprint.Through these efforts, we have saved
undertaken in association with our execution partner Green equivalent of 265 trees making notable environmental impact
Ananda, involved plantation of 3,400 fruit-bearing trees in and we remain committed to make meaningful contribution in
Haryana and Madhya Pradesh covering our borrowers in this area.
Hisar, Fatehabad, Naraingarh, Agar, Mandsaur, Ujjain and Dewas
regions. The initiative holds significant potential to elevate
our borrowers’ income and will generate positive ecological
impact in terms of improvement in soil and air quality, water
augmentation, food security and sustainability.
Phygital process – Business Model

We employ a ‘phygital’ business model, combining on-ground
presence for better understanding of customers with extensive
technology utilisation to digitalise processes and enhance
decision-making, reporting and analytics.

SDGs Impacted
Our Approach
We are committed to maximising our social impact through Lives of 75,000+ Borrowers
multiple impact initiatives for our stakeholders to help drive (including co-borrowers)
societal causes and bring about change in the society. Our aim impacted within a four-year span
is to fulfil the unmet credit needs of the rural population and
help them pursue their entrepreneurial goals.
34% of customers are first-time and
As a part of our beyond-lending impact initiative, we new-to-credit borrowers
are targeting to support each livestock borrower with
50-100 fruit-bearing trees per acre at zero cost
55% of our customers are
women entrepreneurs
Key Outcomes
riving financial inclusion by serving the most under-served
D
segment and addressing the bottom of the pyramid
overing borrowers in Hisar, Fatehabad, Naraingarh, Agar,
C
Mandsaur, Ujjain and Dewas regions
E nabling the borrower to double their monthly income in
three years
roviding secured loans with higher credit size (Up to `10
P
lakh)

01 CORPORATE
STATEMENT
CUSTOMERS
Understanding customers Offering customised products

We understand customers' business and cash flows in detail We also conduct in-depth studies of our customers’ enterprise to
and help them choose the right amount of financing and tenure draw out assessment peculiarities of specific business trades.We
depending on their income generation capacity. We aim to serve continuously monitor these trades and accordingly incorporate
our customers with the highest level of transparency and efficient changes in credit evaluation tools in order to create tailor-made
delivery of credit through end-to-end digitalised operations for products for customers and satisfy their specific needs.
all activities right from sourcing to paperless documentation,
disbursement and collection. Further, our on-ground presence Empowering women
and digital presence give us a better understanding of our At Moneyboxx, nearly 55% of our borrowers are women
customer segment, enabling us to maintain better underwriting entrepreneurs. In the past decade, India has witnessed a spike
and collection and ensure quick scalability of operations. We in the number of women-led small and micro-enterprises, which
have also leveraged technology to develop assessment models has soared from 2.15 lakh to 1.23 crore, accounting for 20% of
to appraise customers having minimal documentation. domestic MSMEs.Today, India ranks 3rd in the entrepreneurship
gender gap, given the pre-existing biases and paucity of access
Apart from impact financing, we are committed to creating a to movable and collateral assets.
sustainable impact on borrowers’ lives through various beyond-
lending impact initiatives such as free vet consultancy for Fulfilling the gender gap
livestock borrowers and agroforestry drive.
Today, emerging female entrepreneurs from Tier 2 and Tier 3
cities lack networking opportunities. To address the situation,
Reaching closer to customers
there is a need to emphasise qualitative, non-conventional
We are continually expanding our branch presence, especially credit evaluation approaches, product innovation, and the use
in Tier 3 and below locations to ensure wider reach to our of technology and policy reforms to improve access to credit
customers. Our digital model further amplifies our reach. for women entrepreneurs.
Ensuring efficient and quick loan disbursement to customers
APPROACH PRIORITISE EVALUATE

argeting micro-enterprises in Tier 3
T rioritising customers who are still not
P ssessing applicants on their ability
A
and below cities following a Direct to a part of the organised financial system to repay and stability of cash flow of
Customer approach F ocussing on customers moving from the business
L everaging referral from existing group to individual borrowing F ocussing on intent depending on
customers to source new customers history, referrals and traceability
DISBURSE
isbursing business loans depending
D
on the need of the enterprise
and eligibility
nsecured and secured business loans
U
from ` 70,000 to ` 10 lakh
MONITOR
onitoring trades continuously and
M
incorporating changes in the credit
assessment tools
Identifying and acting on early caution
signs by regular appraisal

Our customer excellence in FY 2022-23
85 ` 25 lakh+ 18,579 3,888 5,888

(C-SAT) Customer Spent on social/ New customers Repeat customers New to credit
satisfaction impact initiatives onboarded customers
survey/(NPS) Net
promoter score
Key Statistics
Customer Demographic Share of New-to-Credit
45 34
Males
New to Credit
% % Non-NTC
Females
55 66
Livelihood of Customers Customer Profile – Age

6 3 8
Livestock 30 18-30 years
8
Trading 26 31-40 years
16 % Kirana
% 41-50 years
Manufacturing 51-60 years
67 Services
36
Customer Profile – Education Customer Profile – Social Groups

3 4 11 8
10 2
Never attended school Scheduled Caste
Up to 5 standard
th
34 Scheduled Tribe
18 % Up to 8 standard
th
% Other Backward Classes
Up to 10th standard General
43 Up to 12th standard Others
22 Graduation and above 45

01 CORPORATE
STATEMENT
Customer Speak
Strengthening my credit history Achieving Gender Inclusion

Alpana Mehta, Dewas, Madhya Pradesh Radha Bharatpur, Rajasthan
I took this business loan from Moneyboxx, which was I took a look from Moneyboxx for the expansion
the first-ever loan in my life.The loan process was very of my dairy business. This helped me in enhancing my
transparent and hassle-free. Since then, my income income further.
has doubled.
Fostering entrepreneurship Empowering women

Praveen Chandra, Ujjain, Madhya Pradesh Manjeet Kaur, Mansa, Punjab
Moneyboxx trusted me with a loan to set up a tailoring I took a business loan of ` 1.25 lakh from Moneyboxx in
shop during tough times. Today, my shop is known 2021 for the purpose of business expansion. I then took
as an icon in the area and my customer footfall has another loan of ` 2 lakh for expanding my business. Today,
also doubled. continuous support from Moneyboxx has helped me
become financially independent.
Tikam Singh Soni Akhilesh Gujjar

I am Tikkam Singh Soni from Rinda, Mandasaur. I am Akhilesh Gujjar, a resident of Shekhpur Village in Ujjain.
I will always be grateful to Moneyboxx for helping me grow My village is very far from the city. Bad roads make it even more
my business and provide a good life to my family. difficult to commute.Therefore, getting good veterinary services
for my cattle used to be quite a task. Our cattle would often fall
Earlier, I used to sell about 1 kg jaggery and earn 200-400
ill and many would die due to lack of proper treatment.
rupees a day. The loan helped me to expand my business
and sell 2 kg - 4 kg per day. My daily income also increased Once, during a cattle fair in Ujjain, I saw Moneyboxx's stall
to 1000 rupees approximately. and picked up its card. Later, we called them to check the loan
options and availed a loan of ` 1.75 lakh. Looking back, I think
Gradually, I ventured into wholesaling and started attracting
that it was an excellent decision.
about 10-12 customers from nearby villages every day.
Today, I own another shop close-by and earn about 6,000- Now, a vet comes and checks our cattle regularly. In few cases
7,000 rupees every day. when the doctor is unable to visit, we receive instant guidance
on the phone. This has benefited us greatly in restoring our
The increase in workload has been a blessing for me. Now,
cattle’s health. Apart from the loan, I also enjoyed the perk of
I have work and a source of income too.
a free medical check-up.
Moneyboxx is a must-recommend to my business community.
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sG7QgS2kmnc?si=haDuQddhV_ AbU3IJs6H0Y?si=8wQ-
TAybyj vKToxEdKdojU

CUSTOMER SUCCESS STORIES
Fostering women entrepreneurship Empowering Small Dairy Farmers through

Santosh, a determined female entrepreneur, was successfully Financial Inclusion
operating a general store business for several years. She aspired Arjun, a budding dairy entrepreneur, aimed to grow his business
to start one more business in the cattle segment. Despite and support fellow small-scale dairy farmers in his area. While
this, her low credit history hindered her loan prospects and Arjun’s mother got a group loan, his individual loans were getting
expansion plans. rejected due to his limited credit history, hindering his dreams
of growth.
Moneyboxx intervention
Recognising Santosh’s potential, we came forward to grant a loan, Impact
helping her purchase cattle to commence livestock business and The loans allowed Arjun to purchase 4 cattle, bolstering milk
fulfil her entrepreneurial dreams. production and enhancing his income. It also indirectly benefited
8-10 small dairy farmers. Arjun could further invest in a FAT
Impact machine enabling improved milk collection quality and offering
ur support helped Santosh start a new business, improve
O fair payments to small dairy farmers. He also maintained milk
her credit history through timely EMI payments and negotiate records for trust and transparency.
effectively with wholesalers in Kota and Bhawani mandi
ur loan also helped her add a Gift product category to her
O https://youtu.be/
existing business, creating more business opportunities rpTD5QEFv68?si=wZ2UxqmnCH_
urchasing 7-8 cattle opened business avenues for cattle
P I7CHZ
trading, yielding an income of ` 70,000-80,000 to date

01 CORPORATE
STATEMENT
COMMUNITIES
Key Outcomes
Full-time Vets working as Impact Officers in branches: Running the agro-forestry drive:
o B
eing a guiding light to borrowers by offering advisory on o F ree fruit-bearing tree plantation creates
cattle health management, feedstock, cattle breed (AI) and sustainable socio-economic development and a
milk yield improvement positive ecological impact
o A
imed at mitigating risks of cattle diseases by way o W
e are committed to helping our agri-preneurs
of proactive vaccinations and treatments by our borrowers cultivate fruit-bearing trees, which
Veterinary Doctors can significantly increase their revenue

Free Vet Consultations for livestock
borrowers
We are possibly the only NBFC in India employing
Veterinary doctors (Impact Officers) on a full-
time basis at our branches to help our livestock
borrowers in improving milk yield and cattle
health. They also drive various impact initiatives
and are committed to creating sustainable social
impact by driving transformational change for
our borrowers.This includes enabling a multi-fold
increase in their disposable income by providing
credit for asset purchase, working capital and
income generation purposes, thus creating a
sustainable impact beyond just capital.
Livestock awareness camps

Our Veterinary doctors provide information on
health, nutrition, breeding, feeding, management,
cattle insurance aspects to the farmers. They
also, provide information about the control
and prevention of important livestock diseases.
During the year, our team of 10 doctors
conducted six livestock awareness camps.
Moneyboxx Veterinary doctors:

Creating impact at the forefront
Veterinary doctor helps farmer avoid
economic loss
In one of our many instances, our Veterinary
doctor visited a livestock farmer to assess his
Buffalo’s pregnancy. He found that it was 2 to 2.5
months pregnant, making pregnancy diagnosis
very critical. The vet advised proper feeding
management to ensure the buffalo’s health and
CSR impact in FY 2022-23
strength, helping prevent economic loss for the
` 25 lakh 61,000+ 7,100+

farmer.
Investment in Cattle health Direct beneficiaries

social initiatives screened from impact initiatives
https://youtu.be/
VEN25jTal8g
5,700+ 100+
Free doorstep Individuals given financial
VET consultations literacy and credit counselling
(FLCC) training

01 CORPORATE
STATEMENT
OUR GOVERNANCE PHILOSOPHY

Our Governance Philosophy majorly focusses on the good governance through application
of strongest ethical practices in all our business activities and it also includes maintaining
a fair relationship with all stakeholders. We also take diligent measures to prudently
manage risks while we pursue our business objectives, helping reinforce our strong
leadership position.
Our established corporate governance structure provides us redressal, KYC & AML, nomination and remuneration, whistle-
with a comprehensive framework to enhance accountability blower and POSH among others. We also maintain a strong
to our shareholders and other stakeholders. It ensures robust code of conduct with the highest standards of business ethics
and effective decision-making through processes, practices and integrity and believe in transparency. Further, we follow the
and policies. We have well-defined policies covering grievance highest level of disclosures with all our stakeholders.
Strong Governance Structure
BOARD OF DIRECTORS
Co-CEO, COO, CFO, and CS
Internal Audit Department Audit Committee Nomination and Remuneration

Committee
EXECUTIVE TEAM
Chief Risk Officer Chief Impact Officer Finance Controller
Human Resources Administration
Our Board Board Committees

The Board comprises of six directors, out The Board has formed various committees to help in discharging various duties. The
of which, two are independent directors committee members include subject-matter experts and independent members brought
(including one woman director), two are together to create diverse teams.
whole-time directors and the remaining
two are non-executive directors. Audit Nomination and Remuneration
This optimal mix of executive, non- Committee Committee
executive and independent directors
ensures effectuating the two main
functions of the Board, i.e., governance Stakeholders Relationship Working
and management. The Chairman of the Committee Committee
Board is an Independent Director. The
promoters and management are highly
Risk Management
qualified with relevant experience in the
Committee
banking industry.

Board of Directors
With 34+ years of experience With 21+ years of experience

in Central banking with the RBI, as ex-IAS officer (1987 batch) in
he is currently working as CEO departments like Indian Audit &
of Currency Cycle Association, Accounts Services and CAG, she
CEO and Secretary of Association is the Ex-CEO of Microfinance
of Small Finance Banks of India Institution Network (MFIN) for four
(ASFBI) and independent director years and is currently the CEO of
at multiple NBFCs. global NGO.
Uma Shankar Paliwal Ratna Dharashree

Chairman & Independent Vishwanathan
Non-Executive Director Independent Non-Executive
Director
As a Chartered Accountant with A qualified Chartered Accountant

more than 20 years of experience with more than 20 years of
in financial services industry, he experience in Finance, including
started his career with GE Capital with Bank of America, KPMG, GE
and went on to work in large Capital, Infosys (for Deutsche Bank),
financial institutions like JP Morgan he served as Asia-Pacific industry
and HSBC. In last role, served as risk head with Bank of America. His
Associate Director at HSBC lending core competencies are in capital
to Banks and FIs. funding (PE, Debt), capital structure
optimisation, growth, and strategy
Mayur Modi Deepak Aggarwal consulting. He founded and ran a
Co-Founder Co-CEO and COO Co-Founder, Co-CEO and CFO
boutique investment banking firm
Avancer Capital Partners helping
client raise >` 2,000 crore in equity
and debt.
He is a practising Chartered He has 20+ years of experience in

Accountant with more than 18 financial products and PMS including
years of experience in the field of distribution of equities, mutual funds,
statutory and internal audit, tax and and fixed income products.
company law matters.
Govind Gupta Atul Garg

Non-Executive Director Non-Executive Director
Leadership Team
He is a Chartered Financial He is an MBA (IIF) and IIM-A
Analyst with more than 20 years (MDP) with over 20 years of rich
of experience in finance covering experience in retail and corporate
corporate finance, credit risk and lending space, including over
equity research. He has previously 15 years at TATA Capital. His
worked with leading organisations areas of expertise include credit
such as HSBC and Infosys and in his underwriting, risk assessment,
last role served as VP-Commercial portfolio management, strategic
Banking & Risk Training. planning and digital lending across
Retail and MSME space.
Viral Sheth Vikas Bansal
Finance Controller Chief Risk Officer

01 CORPORATE
STATEMENT
AWARDS & ACCOLADES
Best Digital Lender of the Year Rising Star - Micro Finance Company
Special Mention Business World 2nd Edition of the Year
Festival of Fintech Conclave Awards 2022 at 2nd Annual NBFC and
FinTech Excellence Awards 2023
2022 ELETS NBFC100 Leader BFSI Tech Innovation Awards 2023

of Excellence Award conferred in the category of Outstanding Customer
for the category Engagement Initiative
Outstanding Customer Experience
Silicon India
10 most promising
Micro-finance companies – 2022

CORPORATE INFORMATION
BOARD OF DIRECTORS REGISTERED OFFICE
Mr. Uma Shankar Paliwal 523-A, Somdutt Chamber-II,
Chairman/Non-Executive 9, Bhikaji Cama Place, New Delhi - 110066
Independent Director
CORPORATE OFFICE
Ms. Ratna Dharashree Vishwanathan 2nd Floor, Vatika Business Centre,
Non-Executive Independent Director Vatika First India Place, M G Road,
Gurgaon – 122002, Haryana
Mr. Mayur Modi
Whole-time Director HEAD OFFICE
Wing A-411, Kanakia Wall Street,
Mr. Deepak Aggarwal Chakala Andheri Kurla Road,
Whole-time Director Hanuman Nagar, Andheri East,
Mumbai - 400093, Maharashtra
Mr. Govind Gupta
Non-Executive- WEBSITE
Non-Independent Director
www.moneyboxxfinance.com
Mr. Atul Garg
PHONE NO.
Non-Executive-
Non-Independent Director 011- 4565 7452
E-MAIL
CO-CHIEF EXECUTIVE [email protected]
OFFICER
Mr. Deepak Aggarwal CORPORATE IDENTIFICATION
NUMBER
Mr. Mayur Modi
L30007DL1994PLC260191
CHIEF FINANCIAL OFFICER
Mr. Deepak Aggarwal
COMPANY SECRETARY &

COMPLIANCE OFFICER
Ms. Bhanu Priya
STATUTORY AUDITORS
Gaur & Associates
107, Laxmi Deep Building, Laxmi Nagar
District Centre, Delhi - 110092
REGISTRAR & SHARE

TRANSFER AGENT
MAS Services Ltd.
T-34, 2nd Floor, Okhla Industrial Area,
Phase - II, New Delhi - 110020

01 CORPORATE
STATEMENT
Board's Report
To the Members,
Your directors take pleasure in presenting the 29th Annual Report on the business and operations of your Company along with the audited
statement of accounts for the year ended March 31, 2023 (Financial Year under review).
Financial and Operational Highlights:

The financial performance of your Company for the year ended March 31, 2023 is highlighted as below:
(Figures in ` lakh)
Particulars Current Financial Previous Financial
Year (2022-23) Year (2021-22)
Revenue from Operations 5041.08 2259.10
Other Income 2.95 71.50
Profit/loss before Depreciation, Finance Costs, Comprehensive items and 1346.51 497.19
Tax Expense
Less: Depreciation/Amortisation/Impairment 173.08 93.80
Profit/Loss before Finance Costs, Comprehensive items, and Tax Expense 1173.43 403.39
Less: Finance Cost 2167.64 1055.74
Profit/Loss before Comprehensive items and Tax Expense (994.21) (652.35)
Less: Tax Expense (Current & Deferred) (313.84) (280.34)
Profit/loss for the year (1) (680.37) (372.01)
Add/(less): Comprehensive items 11.09 6.41
Profit/Loss after Tax Expense & Other Comprehensive Item (669.28) (365.60)
Retained earnings as at the beginning of the year (1022.67) (657.07)
Retained earnings before appropriations (1691.95) (1022.67)
Appropriations
Less: Transfer to reserve fund u/s 45-IC (1) of the RBI Act, 1934 - -
Less: Dividend paid on Equity Shares - -
Less: Dividend Distribution Tax - -
Less: Other Appropriation - -
Retained earnings as at the end of the year (1691.95) (1022.67)
Earnings per share (Face value of `10/-)
- Basic (`) (2.94) (1.82)
- Diluted (`) (2.94) (1.82)
Indian Accounting Standards (IND-AS) of ` 112 crore in FY 2021-22 which shows a tremendous growth
Financial Statements of your Company for the financial year ended of 204%. Moneyboxx has been able to successfully expand its
March 31, 2023 are prepared in accordance with Indian Accounting branch network to 61 branches across six states.The Company has
Standards (IND-AS), as notified under Section 133 of the Companies also entered Co-lending tie-up with Vivriti Capital Limited and MAS
Act, 2013 (‘the Act’) read with the Companies (Indian Accounting financial Services Limited. Also, during the year the Company has
Standards) Rules, 2015, as amended from time to time.
entered into a Business Correspondent Agreement with Utkarsh
Company’s Performance in Financial Year under Small Finance Bank. These tie-ups are proven to be as strategic tie-
Review ups to utilize the available resources in most viable way to generate
The Revenue from operations for the year under review is revenue.
` 5044.03 lakh (Previous Year: ` 2330.60 lakh) registering a growth
of 116.42% over the previous year. Fund Raised During 2022-2023:
Your Company has diversified its funding sources by adding six new
The Assets under Management (AUM) of the Company stood at
lenders in FY23, taking the total lender count to 25 as of March
` 338 crore as on March 31, 2023, this represents growth of 184%
2023. New lenders in FY23 included reputed names –State Bank
as compared to March 31, 2022. The Company was able to achieve
profitability in 4th Quarter of the year under review which has been of India, Tata Capital Financial Services Limited, Hinduja Leyland
driven by rising scale & improving productivity. Loan amount of ` 341 Finance, Manaveeya Development & Finance Pvt Ltd (Oiko Credit),
crore has been disbursed in FY 2022-23 as compared to disbursement Utkarsh Small Finance Bank Ltd,Vivriti Asset Management etc.

Total debt raise was 230.1 crore (including non-Convertible into 2,34,05,349 Equity Shares of ` 10/- each to ` 24,92,13,600
debentures and PTC) in FY23 which is in line with business divided into 2,49,21,360 Equity shares of ` 10/- each.
growth. During the year under review, the Company has raised
` 20 crore by issue and allotment of Rated, Unlisted, Senior, Listing on Stock Exchange
Secured, Redeemable, Taxable, Non-convertible Debentures to The shares of the Company are listed on the Main Platform of
Promising Lenders Fund managed by Vivriti Asset Management BSE Limited. The listing fee for the financial year 2023-24 has been
and outstanding subordinated debt as on March 31, 2023, stands duly paid by the Company within the due date as prescribed in this
at ` 6.61 crore. Continued support from the existing lenders and regard.
the addition of new lenders demonstrates the confidence of the
lenders in the Company’s credit processes, asset quality, collection Change in the Nature of Business
efficiency and the management team. There have been no such changes in the nature of business of the
Company during the year under review.
Company’s performance in detail cover in Management Discussion
& Analysis. State of Company’s Affairs
The state of the Company’s affairs has been duly presented in the
Annual Reports Circulation in Electronic form
Management and Discussion Analysis Report forming part of the
SEBI has vide Circular No. SEBI/HO/CFD/PoD-2/P/CIR/2023/4 Integrated Annual Report.
dated January 5, 2023 read with Circular No. SEBI/HO/CFD/CMD1/
CIR/P/2020/79 dated May 12, 2020, dispensed with the requirement Material changes and commitment, if any affecting
of sending physical copies of Annual Report to the Members under the financial position of the Company, having
Regulation 36(1)(b) &(c) of the SEBI Listing Regulations till 30th occurred since the end of the year and till the date
September, 2023. Members may note that the Notice and Annual of the report
Report 2022-23 will also be available on the Company’s website at
There were no material changes and commitments affecting the
www.moneyboxxfinance.com.
financial position of the Company which occurred between the end
of the financial year of the Company i.e., March 31, 2023, and the
Dividend
date of this Board’s Report.
During the year under review, no dividend was recommended by
the Board of Directors with a view to conserving the resources of
Corporate Social Responsibility
the Company.
The provisions of section 135 of the Companies Act, 2013 in relation
Transfer to Reserves to Corporate Social Responsibility (CSR) are not applicable to the
Company.Therefore, such details on expenditure in CSR along with
During the period under review, no amount has been transferred
the policy developed in this regard are not required to be provided
to reserves.
in this Report.
Share Capital
Highlights of performance of subsidiaries, associates
The Authorized Share Capital of the Company as on March 31, and joint venture companies and their contribution
2023, stood at ` 30,00,00,000/- (3,00,00,000 equity shares of ` 10/- to the overall performance of the company
each) and the Issued, Subscribed and Paid-up Share Capital of the
As on March 31, 2023, your Company does not have any subsidiary,
Company stood at ` 24,92,13,600 divided into 2,49,21,360 Equity
associate, or joint venture company, therefore the statement
shares of ` 10/- each.
containing the salient features of the financial statement of
subsidiaries, associates, or joint ventures under the first proviso to
During the period under review, the Company has raised equity
sub-section (3) of section 129 of the Companies Act, 2013 in Form
share capital on Preferential basis two times vide allotment dated
AOC-1 is not applicable.
June 02, 2022, and March 31, 2023.The details of which are as follows:
- Equity raised on June 02, 2022: Credit Rating

The Company has allotted 18,05,851 equity shares at a face During the year under review, Acuite Ratings & Research has
assigned the long-term rating of ‘ACUITE BBB-’ (read as ACUITE
value of ` 10 per share as a result of which, the Paid-up share
triple B minus) to the ` 100 Cr bank facilities (including proposed
capital of the Company increased from 21,59,94,980 divided
facilities) of the Company. The outlook is ‘Stable’.
into 2,15,99,498 equity shares of ` 10/- each to ` 23,40,53,490
divided into 2,34,05,349 Equity Shares of ` 10/- each.
Directors and KMP
- Equity raised on March 31, 2023: Changes during the year under review under the Directors
The Company has allotted 15,16,011 equity shares at a face and KMP Category:
value of ` 10 per share as a result of which, the Paid-up share During the year there is no change under Director and KMP
capital of the Company increased from ` 23,40,53,490 divided Category.

01 CORPORATE
STATEMENT
In accordance with the provisions of Section 197, 198 of the five years as Independent Directors.The resolution(s) with respect
Companies Act, 2013 read with schedule V of the Companies Act, to their re-appointments are put to vote in ensuing Annual General
2013 and the Articles of Association of the Company, the term of Meeting.
Mr. Deepak Aggarwal as CEO & Whole-time Director is about to
end on September 14, 2023. Hence, based on the recommendation Director retiring by rotation:
of Nomination and Remuneration Committee, Board of Directors In accordance with the requirements of section 152(6) (c) of the
recommends the re-appointment of Mr. Deepak Aggarwal for Companies Act, 2013, Mr. Govind Gupta (DIN: 00065603), Director
another term of 3 years in line with the applicable provisions of retires by rotation from the Board of Directors and being eligible,
Companies Act, 2013. Brief resume and other details of Mr. Deepak offers himself for re-appointment. Brief resume and other details
Aggarwal, who is proposed to be re-appointed as a Co-CEO & of Mr. Govind Gupta who is proposed to be re-appointed as a
Whole-time Director of the Company for second term of 3 years Director of the Company have been furnished, with the explanatory
have been furnished, with the explanatory statement to the notice statement to the notice of the ensuing Annual General Meeting.
of the ensuing Annual General Meeting. The same is put to vote in
ensuing General Meeting. The Board recommends the re-appointment of Govind Gupta (DIN:
00065603), as Director of the Company retiring by rotation.
Furtherance to this, the first term of Mr. Uma Shankar Paliwal
(DIN- 06907963) and Ms. Ratna Dharashree Vishwanathan (DIN- During the year under review, the non-executive directors of the
07278291) is about to end on January 10, 2024. Hence, the Board of Company had no pecuniary relationship or transactions with the
Directors recommends their re-appointment for a second term of Company.
As on March 31, 2023, the Board of Directors of your Company consists of 6 Directors. Their details are as follows:
S. Name of Director Designation
No.
1. Mr. Uma Shankar Paliwal (DIN-06907963) Chairman and Independent Director
2. Ms. Ratna Dharashree Vishwanathan (DIN-07278291) Independent Director
3. Mr. Deepak Aggarwal (DIN-03140334) Whole-time Director
Co- Chief Executive Officer & Chief Financial Officer (KMP)
4. Mr. Mayur Modi (DIN-08021679) Whole-time Director
Co- Chief Executive Officer (KMP)
5. Mr. Govind Gupta (DIN-00065603) Non-Executive Director
6. Mr. Atul Garg (DIN-07093376) Non-Executive Director
Key Managerial Personnel 1. Audit Committee

As per the provisions of the act, as on March 31, 2023 Mr. Mayur 2. Nomination and Remuneration Committee
Modi and Mr. Deepak Aggarwal are CO-CEOs & Whole-time 3. Stakeholder Relationship Committee
Director(s) of the Company, Mr. Deepak Aggarwal is designated as
4. Asset Liability Management Committee
Chief Financial Officer and Ms. Bhanu Priya as Company Secretary
& Compliance Officer of the Company are the Key Managerial 5. Risk Management Committee
Personnel of your Company in accordance with the provisions
of Sections 2(51) and 203 of the Companies Act, 2013 read Full details pertaining to the composition, size, terms of reference
with Companies (Appointment and Remuneration of Managerial etc. of the aforesaid-mentioned Committees are included in the
Personnel) Rules, 2014. Corporate Governance Report, which forms a part of this report.
Number of Meetings of the Board Directors Responsibility Statement

In accordance with Section 134(5) of the Companies Act, 2013, the
The Board of Directors of the Company met 6 times during the financial
year 2022-23. The meeting details are provided in the ‘Corporate Directors state that:
Governance Report’ that forms part of this Annual Report. i) In the preparation of the annual accounts, the applicable
accounting standards have been followed along with proper
During the period under review, your company has properly explanation relating to material departures, if any;
complied with the applicable laws in reference to conduct Board ii) they have selected such accounting policies and applied them
meetings. consistently and made judgments and estimates that are reasonable
Committees of the Board 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
There are five (5) Statutory Committees constituted by the Board
& loss of the Company for the financial year 2022-23;
of your Company in compliance with the relevant provisions of the
Companies Act, 2013, SEBI Listing Regulations, 2015 and applicable iii) they have taken proper and sufficient care for the maintenance
RBI Regulation(s): of adequate accounting records in accordance with the

provisions of the Companies Act, 2013 for safeguarding the The performance of the Board was evaluated by the Board after
assets of the Company and for preventing and detecting fraud seeking inputs from all the Directors based on the criteria such as the
and other irregularities Board composition and structure, effectiveness of Board meetings,
information, and functioning, etc. through a structured questionnaire.
iv) they have prepared the annual accounts on a going concern
The performance of the Committees was evaluated by the Board
basis.
after seeking input from the Committee members based on the
v) they have laid down internal financial controls to be followed criteria such as the composition of Committees, effectiveness of
by the Company and that such internal financial controls are Committee meetings, etc. The performance evaluation of the Non-
adequate and are operating effectively; and Independent Directors and Chairman of the Board was carried out
by the Independent Directors through a separate meeting held on
vi) they have devised proper systems to ensure compliance with
March 31, 2023.
the provisions of all applicable laws and that such systems are
adequate and are operating effectively
The Directors expressed their satisfaction with the evaluation
process. Further, the evaluation process confirms that the Board and
Statement on Declaration by Independent Directors
its Committees continue to operate effectively, and the performance
In accordance with the provisions of Section 149(7) of the Companies of the Directors is satisfactory.
Act, 2013 and Regulation 25(8) of the SEBI Listing Regulations, the
Independent Directors have given a declaration that they meet the Employee Stock Option Plan
criteria of independence as provided in Section 149(6) of the said
Employee Stock Options have been recognized as an effective
Act and Regulation 16(1)(b) of the SEBI Listing Regulations and
instrument to attract talent and align the interest of employees
that they are not aware of any circumstance or situation, which
with that of the Company, thereby providing an opportunity to the
exist or may be reasonably anticipated, that could impair or impact
employees to share in the growth of the Company and to create
their ability to discharge their duties with an objective independent
long-term wealth in the hands of employees.
judgement and without any external influence.
Policy on Directors’ Appointment and Remuneration Pursuant to this, the Company had formulated ‘‘MFL Employee
Stock Option Plan 2021” approved by Shareholders in an
In compliance with the provision of Section 178 of the Companies
Extra Ordinary General Meeting held on December 27, 2021, in
Act, 2013, the Board has on the recommendation of the Nomination
compliance with Securities and Exchange Board of India (Share
& Remuneration Committee of the Company, framed a policy for
Based Employee Benefits) Regulations, 2021. The eligibility of
selection and appointment of Directors, Key Managerial Personnel,
employees to receive grants under the Plan has to be decided by
Senior Management, and their remuneration.
the Nomination and Remuneration Committee (NRC) from time
The policy of the company on director’s appointment and to time upon recommendation of Management of the Company.
remuneration, including the criteria for determining qualifications, Vesting of the options shall take place in the manner determined by
positive attributes, independence of a director and other matters, as NRC at the time of grant provided the vesting period in line with
required under sub-section (3) of section 178 of the Companies Act,2013 the MFL Employee Stock Option Plan 2021.
is available on our website at www.moneyboxxfinance.com/.
Vesting of options shall be subject to the condition that the Grantee
Your Company also affirms that the remuneration paid to the shall be in continuous employment with the Company and such
directors is as per the terms laid out in the Nomination and other conditions as provided under the MFL Employee Stock
Remuneration Policy of the Company. Option Plan 2021. The Exercise Price of each grant is determined
by NRC at the time of grant. Presently, stock options have been
Annual Evaluation of Board’s Performance granted under the MFL Employee Stock Option Plan 2021.
Pursuant to the provisions of the Companies Act, 2013 and SEBI
(Listing Obligations and Disclosure Requirements) Regulations, Pursuant to Rule 12(9) of Companies (Share Capital and
2015, the Board of Directors has carried out an annual evaluation Debentures) Rules, 2013, following are the details of grant under
of its own performance, Board Committees, and individual directors. the MFL Employee Stock Option Plan 2021as on March 31, 2023:
S. No. 1. 2. 3.
Date of grant March 01, 2022 August 10, 2022 August 10, 2022
Options granted 3,25,400 90,700 1,40,000
Options vested 73,225 N.A. N.A.
Options exercised N.A. N.A. N.A.
Vesting Period 4 years 4 years 2 years
Total number of shares arising as a result of exercise of options N.A. N.A. N.A.
Options lapsed as on March 31, 2023 32,500 22,000 N.A.
Exercise Price ` 95 ` 115 `115
Variation of terms of options N.A. N.A. N.A.
Money realized by exercise of options N.A. N.A. N.A.
Total no. of options in force 2,92,900 68,700 1,40,000

01 CORPORATE
STATEMENT
S. No. 1. 2. 3.
Employees wise details of options granted to: (i) KMP: Ms. Bhanu Priya- 6000 options
(ii) Any other employee who received options amounting to
5% or more (during FY 23):
S. Name of Designation Options Granted
No. Employee during FY 23
1. Mr. Praveen Chief Impact 1,40,000
Gupta Officer
(iii) Identified employees who were granted options equal to or

exceeding one percent of issued capital: N.A.
Further, the Disclosures as required under Regulation 14 Human Resources

of SEBI (Share Based Employee Benefits) Regulations, 2014 Employees are one of the key foundations of any successful
has been hosted on the Company’s website at the link: Organization. Human Resources plays a significant role in developing
www.moneyboxxfinance.com. positive business culture and improving employee engagement
and productivity. The HR function takes the lead on organization
Compliance of Secretarial Standards development, employee wellness and personal development.
Your Company has duly devised proper systems to ensure
compliance with the provisions of all applicable Secretarial Standards Company embraces the principle that meaning at work is created
issued by the Institute of Company Secretaries of India and that such when people relate to the purpose of the organization, feel
systems are adequate and operating effectively. connected to the leaders, and have a sense of belonging. During the
year, the Company had conducted familiar interactions between
Deposits the employees of the Company to sharing information about the
Company’s long-term perspective, its growth along with the growth
Your Company is registered with the Reserve Bank of India (RBI),
of employees.
as a Non-Deposit accepting NBFC under Section 45- 1A of the
RBI Act, 1934. Your Directors hereby confirm that the Company Corporate Governance
has not accepted any public deposits during the year under review
A separate chapter titled ‘Corporate Governance Report’ has been
and it continues to be a non-deposit taking non- banking financial
included in this Annual Report pursuant to SEBI (LODR) Regulations,
company in conformity with the guidelines of the RBI.
2015, along with it, the certificate from the Secretarial Auditors
of the Company confirming the compliance with regulations of
Management Discussion and Analysis Report
corporate governance under the SEBI Listing Regulations is annexed
The Management Discussion and Analysis (‘MDA’) Report gives to the Report on Corporate Governance and forms part of this
details of the overall industry structure, developments, performance Report.
and state of affairs of the Company’s business and other material
developments during the Financial Year.The MDA report is attached Vigil Mechanism / Whistle Blower Policy
herewith and forms an integral part of this Annual Report The Company has in place a Vigil Mechanism (Whistle Blower Policy)
for directors and employees to report genuine concerns.The policy
Particular of Employees provides for adequate safeguards against victimization of directors
Disclosures pertaining to remuneration and other details as or employees or any other person who avails the mechanism.
required under Section 197(12) of the Companies Act, 2013 read
There was no reporting made by any employee for violations of
with Rule 5(1) of the Companies (Appointment and Remuneration
applicable laws and regulations and the Code of Conduct for the
of Managerial Personnel) Rules, 2014 are provided in the prescribed
F.Y. 2022-23.
format and annexed herewith as Annexure -A to this Annual
Report. Internal Financial Control Systems and their
adequacy
In terms of Section 136 of the Companies Act, 2013, the Report and
Your Company has in place adequate internal financial controls with
Accounts are being sent to the Members of the Company excluding
reference to the financial statements.
information on employees’ particulars which is available for
inspection by the Members at the Registered Office of the Company The controls comprise of policies and procedures for ensuring
during the business hours on working days of the Company up to orderly and efficient conduct of the Company’s business, including
the date of the ensuing Annual General Meeting. If any Member is adherence to its policies, the safeguarding of its assets, the prevention
interested in obtaining such information, he/she may write to the and detection of frauds and errors, the accuracy and completeness
Company Secretary at the Corporate Office of the Company or of the accounting records and the timely preparation of reliable
request via email to [email protected]. financial information.

Based on the framework of internal financial controls and The Secretarial Audit Report for the year 2022-23 is
compliance systems established and maintained by the Company, unmodified, does not contain any qualification, reservation or
work performed by the internal, statutory, and secretarial auditors adverse remark or disclaimer by the Secretarial Auditor.
and external consultants and the reviews performed by management
and the relevant board committees, including the audit committee. Cost Audit
The provisions of Section 148 read with the Cost Audit Rules and
The board is of the opinion that the Company’s internal financial
Cost Audit are not applicable to the Company.
controls were adequate and effective during the financial year 2022-23.
Annual Return
Audit and Auditors
The Annual Return of the Company in Form MGT- 7 in accordance
a) Statutory Auditor
with Section 92(3) of the Companies Act, 2013 is available on the
The Shareholders in the 25th Annual General Meeting (“AGM”), website of the Company at www.moneyboxxfinance.com.
approved the appointment of Gaur & Associates, Chartered
Accountants (Firm Registration No. 005354C), as the Statutory Particulars of Loans, Guarantees and Investments
Auditors, for a period of five (5) years i.e., from the conclusion
As on March 31, 2023, the Company has not given loans, made
of the 25th AGM till the conclusion of 30th AGM of the Company
investments, or provided guarantees or securities as covered under
for the financial year starting from April 01, 2019, to March
Section 186 of the Companies Act, 2013.
31, 2024. The statutory auditors have confirmed they are not
disqualified from continuing as auditors of the Company.
Related Party Transactions
The statutory audit report for the year 2022-23 is unmodified, Pursuant to section 177 of the Act and regulation 23 of SEBI Listing
does not contain any qualification, reservation or adverse Regulations, all Related Party Transactions were placed before the
remark or disclaimer by the statutory auditor. Audit Committee for its prior approval during the year under
review and these transactions were reviewed by the Committee.
b) Secretarial Auditor Details of transactions with related parties during the year under
Pursuant to the provisions of Section 204 of the Act read with review are provided in the notes to the financial statements. All
the Companies (Appointment and Remuneration of Managerial related party transactions during the year were conducted at arm's
Personnel) Rules, 2014, the Company had appointed M/s length and were in the ordinary course of business.
Shashank Pashine & Associates, (partner at Juris Consultants
Private Limited) having Membership No. F11665 and CP. No. Further, there being no ‘material’ RPTs as defined under regulation
21229 to undertake the Secretarial Audit of the Company. 23 of SEBI Listing Regulations, there are no details to be disclosed in
The Secretarial Audit Report for the financial year ended as form AOC-2 in that regard.The Directors draw the attention of the
on March 31, 2023, is annexed as Annexure- B and forms an members to Note No. 31 of the Notes to the Financial Statements
integral part of this Report. which sets out related party transactions.
Conservation of Energy,Technology Absorption and Foreign Exchange Earnings / Outgo

The information on conservation of energy, technology absorption and foreign exchange earnings and outgo as stipulated under Section
134 of the Companies Act, 2013 read with the Companies (Accounts) Rules, 2014, is set out hereunder:
(A) Conservation of Energy

(i) the steps taken or impact on conservation of energy The Company’s operations involve low energy consumption and
wherever possible, energy conservation measures have already
been implemented.
(ii) the steps taken by the company for utilising alternate Efforts to conserve and optimize the use of energy through improved
sources of energy operational methods and other mean will continue as an on-going basis.
(iii) the capital investment on energy conservation equipment’s NA
(B) Technology absorption

(i) the efforts made towards technology absorption The minimum technology required for the business has been absorbed.
(ii) the benefits derived like product improvement, cost NA
reduction, product development or import substitution
(iii) in case of imported technology (imported during the last NA
three years reckoned from the beginning of the financial year)-
(a) the details of technology imported;
(b) the year of import;
(c) whether the technology been fully absorbed;
(d) if not fully absorbed, areas where absorption has not taken
place, and the reasons thereof; and
(iv) the expenditure incurred on Research and Development. NA

01 CORPORATE
STATEMENT
(C) Foreign exchange earnings and Outgo-: Disclosures under the Insolvency and Bankruptcy
The Company did not enter into any foreign currency Code, 2016
transactions in the current year and previous year. No application has been made nor is any proceeding pending under
the Insolvency and Bankruptcy Code, 2016 during the year under
Risk Management review.
Your Company recognizes that risk is an integral part of business
and is committed to managing the risks in a proactive and efficient Disclosure under Sexual Harassment of Women at
manner. Information on the development and implementation of a Workplace (Prevention, Prohibition and Redressal)
Risk Management Policy for the Company including identification, Act, 2013
assessment, and control of elements of risk, which in the opinion The Company has duly adopted a policy on prevention, prohibition
of the Board may threaten the existence of the Company. As on and Redressal of Sexual harassment at workplace and has duly
the date of this report, the Company does not foresee any critical constituted an Internal Complaints Committee in line with the
risk, which threatens its existence. The Management identifies, and provisions of the Sexual Harassment of Women at Workplace
controls risks through a properly defined framework in terms of (Prevention, Prohibition and Redressal) Act, 2013 and the Rules
the aforesaid policy. there under.
Reporting of Frauds by Auditors The Company has not received any complaints on sexual harassment
During the year under review, neither the statutory auditors nor during the year.
the secretarial auditor have reported to the Audit Committee or
the Board, under Section 143 (12) of the Act, any instances of fraud One Time Settlement
committed against the Company by its officers or employees, the The Company has not entered into a one-time settlement with any
details of which would need to be mentioned in the Board’s Report. of the banks or financial institutions.
Statement of Deviations or Variations Acknowledgement

There has been no deviation in the use of proceeds raised through The Directors express their sincere gratitude to the Reserve
private placement basis, from the objects stated in the Offer Bank of India, Securities and Exchange Board of India, BSE Limited,
document for the Quarter and year ended March 31, 2023. Ministry of Finance, Ministry of Corporate Affairs, Registrar of
Companies, other government and regulatory authorities, lenders,
RBI Guidelines financial institutions, and the Company’s bankers for the ongoing
The Company continues to comply with all the applicable regulations support extended by them.The Directors also place on record their
as prescribed by the Reserve Bank of India from time to time. sincere appreciation for the continued support extended by the
Company’s stakeholders and trust reposed by them in the Company.
Details of Significant and Material Orders passed by The Directors sincerely appreciate the commitment displayed
the regulators or courts by the employees of the across all levels, resulting in successful
performance during the year.
There are no significant and material orders passed by the regulators
or courts or tribunals impacting the going concern status and
company’s operations in future.
By order and on behalf of the Board

Moneyboxx Finance Limited
Sd/- Sd/-
(Mayur Modi) (Deepak Aggarwal)
Co- CEO & Whole-time Director Co- CEO & Whole-time Director
DIN: 08021679 DIN: 03140334
Date: August 11, 2023

Place: Gurugram, Haryana

ANNEXURE-A
Pursuant to Section 197 and Rule 5 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014
Details Related To Managerial Remuneration:

A) Details pursuant to Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014:
S. Requirement of Rule 5(1) Disclosure

No.
1 The ratio of the remuneration of each director to Name of the Director Ratio (in x times)
the median remuneration of all the employees of the Mr. Mayur Modi (Co-CEO & 43.32
Company for the financial year Whole-time Director)
Mr. Deepak Aggarwal (Co-CEO & 43.32
Whole-time Director)
a. The Median Remuneration of all the employees of the
Company was ` 4,06,312
a. For this purpose, Sitting Fees paid to the Directors has not
been considered as remuneration.
b. Figures have been rounded off wherever necessary.
- where ‘x’ can be defined as median remuneration of
employees.
2 Percentage increase in remuneration of each Particulars % Increase
director, CFO, CEO, CS or Manager in the a) Mr. Mayur Modi* 109.52%
financial year b) Mr. Deepak Aggarwal* 109.52%
c) Ms. Bhanu Priya 23.83%
3 The percentage increase in the median remuneration 18.91% increase in the median remuneration of the employees in
of employees in the financial year the financial year.
4 The number of permanent employees on the rolls of There were 735 employees on permanent roll of the company as
the company on March 31, 2023.
5 The Average percentage increase already made in Average increase in remuneration is 24.86% for Employees
the salaries of employees other than the Managerial other than Managerial Personnel and increase in remuneration is
Personnel in the last financial year and its comparison 104.74% for Managerial personnel.
with the percentage increase in the managerial
remuneration and justification thereof and point out
if there are any exceptional circumstances for increase
in the managerial remuneration.
6 Affirmation that the remuneration is as per the Yes, it is affirmed that the remuneration paid to employees and
remuneration policy of the company KMP’s were based on the Remuneration Policy.
Notes:
* The increment was approved in the Nomination and Remuneration Committee meeting held on May 27, 2022 within the ceiling limits as approved
by prior shareholders resolution.

01 CORPORATE
STATEMENT
ANNEXURE-B
Form No. MR-3
SECRETARIAL AUDIT REPORT
FOR THE FINANCIAL YEAR ENDED ON MARCH 31, 2023
[Pursuant to Section 204(1) of the Companies Act, 2013 and Rule No.9 of the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014]
To, c) The Securities and Exchange Board of India (Issue of

The Members, Capital and Disclosure Requirements) Regulations, 2009;
MONEYBOXX FINANCE LIMITED
d) The Securities and Exchange Board of India (Share Based
523-A, Somdutt Chamber-II 9,
Employee Benefits) Regulations, 2014;
Bhikaji Cama Place,
New Delhi-110066, e) The Securities and Exchange Board of India (Issue and
India Listing of Debt Securities) Regulations, 2008;
f) The Securities and Exchange Board of India (Registrars
I have conducted the secretarial audit of the compliance of applicable
to an Issue and Share Transfer Agents) Regulations, 1993
statutory provisions and the adherence to good corporate practices
regarding the Companies Act and dealing with client;
by Moneyboxx Finance Limited (hereinafter called “the
Company”). The Secretarial Audit was conducted in a manner g) The Securities and Exchange Board of India (Delisting of
which provided us a reasonable basis for evaluating the corporate Equity Shares) Regulations, 2009 (Not applicable to the
conducts / statutory compliances and expressing our opinion Company during audit period); and
thereon.
h) The Securities and Exchange Board of India (Debenture
Trustees) Regulations 1993.
Based on my verification of the Company’s books, papers, minute
books, forms and returns filed and other records maintained by the i) The Securities and Exchange Board of India (Depositories
Company and also the information provided by the Company, its and Participants) Regulations, 2018; and
officers, agents and authorized representatives during the conduct
j) The Securities and Exchange Board of India (Buyback
of secretarial audit, I hereby report that in my opinion, the Company
of Securities) Regulations, 1998 (Not applicable to the
has, during the audit period covering the Financial Year ended on
Company during audit period);
March 31, 2023 complied with the statutory provisions listed
hereunder and also that the Company has proper Board-processes
I further report that, having regard to the compliance
vi.
and compliance mechanism in place to the extent, in the manner
system prevailing in the Company and on examination of the
and subject to the reporting made hereinafter:
relevant documents and records in pursuance thereof, on a
test-check basis, the Company has complied with the laws,
I have examined the books, papers, minute books, forms and returns
i.e., as stated in the Annexure I attached herewith, applicable
filed and other records maintained by the Company for the financial
specifically to the Company.
year ended on March 31, 2023, according to the provisions of:
i. The Companies Act, 2013 (‘the Act’) and the Rules made there I have also examined compliance with the applicable clauses
under; of the following:
ii. The Securities Contracts (Regulation) Act, 1956 (‘SCRA’) and i. Secretarial Standards issued by The Institute of Company
the Rules made there under; Secretaries of India;
iii. The Depositories Act, 1996 and the Regulations and Bye-laws ii. S ecurities and Exchange Board of India (Listing Obligations
framed there under; and Disclosures Requirements) Regulations 2015;
iv. Foreign Exchange Management Act, 1999 and the Rules and

During the period under review, the Company has complied
Regulations made there under to the extent of Foreign Direct
with the provisions of the Act, Rules, Regulations, Guidelines,
Investment, Overseas Direct Investment External Commercial
Standards, etc. mentioned above to the extent applicable except;
Borrowings;
v. he following Regulations and Guidelines prescribed under the
T - As per SEBI (Prohibition of Insider Trading) Regulations, 2015
Securities and Exchange Board of India Act, 1992 (‘SEBI Act’): - promoters or designated persons as specified in the regulations
are not allowed to trade in securities or specific ISIN of the
a) The Securities and Exchange Board of India (Substantial
company during the closure of the trading window. However,
Acquisition of Shares and Takeovers) Regulations, 2011;
during the course of our audit, we have observed that the
b) The Securities and Exchange Board of India (Prohibition promoters of the listed entity had inadvertently sold a total
of Insider Trading) Regulations, 2015 relating to debt of 1,91,608 shares during the restricted period – when
securities listed on Stock Exchange(s); the trading window is closed for all designated persons

of the Company, from the quarter ending December 31, 1. Special resolution passed for obtaining consent of
2023, until forty-eight hours of the declaration of members in the General Meeting for approving
financial results i.e., February 16, 2023. Which comprised issuance of 200 Non-Convertible Debentures by way of
a violation of the Code for Prevention of Insider Trading preferential issue on private placement basis;
of the company formulated pursuant to the Securities and 2. Special resolution passed for obtaining consent of
Exchange Board of India (Prohibition of Insider Trading) members in the General Meeting for approving the
Regulation, 2015. Further, it is to be taken to note that revision in remuneration of Mr. Mayur Modi and Mr.
the promoters had suo-moto filed an application with Deepak Aggarwal;
the Securities and Exchange Board of India (SEBI) dated
May 23, 2023, under the relevant settlement scheme in 3. Special resolution passed for alteration in Articles of
order to seek condonation for the violation. Association of the company;
4. Special resolution passed for approving issuance of
I further report that
11,70,000 convertible warrants within 18 months to the
The Board of Directors of the Company is duly constituted promoter category.
with a proper balance of Executive Directors, Non-Executive
Directors, and Independent Directors. The changes in the I further report that during the audit period, the Company
composition of the Board of Directors that took place during has transacted the following activities through the approval
the period under review were carried out in compliance with of the Board/committee resolutions, which are having major
the provisions of the Act. bearing on the Company’s affairs in pursuance of the above
referred laws, rules, regulations, guidelines, standards, etc.
Adequate notice is given to all directors to schedule the board
meetings and agenda and detailed notes on the agenda were 1. Approving issuance of 200 Non-Convertible Debentures
sent at least seven days in advance, and a system exists for by way of preferential issue on private placement basis;
seeking and obtaining further information and clarifications
2. Approving the revision in remuneration and Bonus of Mr.
on the agenda items before the meeting and for meaningful
Mayur Modi and Mr. Deepak Aggarwal;
participation at the meeting.
3. Approving alteration in Articles of Association of the
All decisions of the Board and Committees were carried with company;
the requisite majority, while the dissenting members’ views, if
any, are captured and recorded as part of the minutes. 4. Approving issuance of 11,70,000 convertible warrants
within 18 months to the promoter category.
I further report that based on review of compliance
mechanism established by the Company and on the basis For Shashank Pashine & Associates,
of the Compliance Certificate(s) issued by the Company Company Secretaries,
Secretary & Compliance Officer and taken on record by the ICSI Unique Code: S2018DE639400
Board of Directors at their meeting(s), I have an opinion that Peer Review Cert. No.: 2790/2022
there are adequate systems and processes in the Company
commensurate with the size and operations of the Company Sd/-
to monitor and ensure compliance with applicable laws, rules, CS Shashank Pashine
regulations and guidelines. Proprietor
Membership No: F11665
I further report that during the audit period the Company Date: August 07, 2023 CP. No: 21229
has passed the following special /ordinary resolutions which Place: New Delhi UDIN No.: F011665E000751767
are having major bearing on the Company’s affairs in pursuance
of the above referred laws, rules, regulations, guidelines, This report is to be read with my letter of even date which is annexed as
standards, etc. “Annexure II” and forms an integral part of this report.

01 CORPORATE
STATEMENT
Annexure I
List of applicable laws to the Company

Sr. Particulars
No.
1. The Reserve Bank of India Act, 1934.
2. Chapter V of Finance Act, 1994.
3. The Employees’ Provident Fund and Miscellaneous Provisions Act, 1952.
4. The Payment of Gratuity Act, 1972.
5. The Payment of Bonus Act, 1965.
6. The Employee State Insurance Act, 1948.
7. The Income Tax Act, 1961.
8. The Industrial Dispute Act, 1947.
9. The Indian Stamp Act, 1899.
10. The State Stamp Acts
11. Negotiable Instruments Act, 1881.
12. Goods and Services Tax Act, 2017

Annexure II
To,
The Members,
Bhikaji Cama Place,
New Delhi-110066,
India
Our Secretarial Audit Report for the Financial Year March 31, 2023, is to be read along with this letter.
1. It is the responsibility of the management of the Company to maintain secretarial records, devise proper system to ensure compliance
with the provisions of all applicable laws and regulations and to ensure that the systems are adequate and operate effectively.
Auditor’s Responsibility
2. My responsibility is to express an opinion on these secretarial records, standards and procedures followed by the Company with
respect to secretarial compliances.
3. I believe that audit evidence and information obtained from the Company’s management is adequate and appropriate for us to provide
a basis for my opinion.
4. Wherever required, I have obtained the management’s representation about compliance of laws, rules and regulations and happenings
of events etc.
Disclaimer
5. The Secretarial Audit Report is neither an assurance as to the future visibility of the Company nor of the efficiency or effectiveness
with which the management has conducted the affairs of the Company.
6. I have not verified the correctness and appropriateness of financial records and books of accounts of the Company.
For Shashank Pashine & Associates,

Company Secretaries,
ICSI Unique Code: S2018DE639400
Peer Review Cert. No.: 2790/2022
Sd/-
CS Shashank Pashine
Proprietor
Membership No: F11665
Date: August 07, 2023 CP. No: 21229
Place: New Delhi UDIN No.: F011665E000751767

01 CORPORATE
STATEMENT
Management Discussion and Analysis :- FY23
Indian economic review

Indian economy achieved a robust real growth rate of 7.2% for the fiscal year ending in March 2023, after registering a growth of 9.1% in
FY22, primarily due to the base effect.
The Indian economy effectively rebounded from the impact of the COVID-19 pandemic by implementing financially sustainable measures
and undertaking significant reforms. The pandemic-induced disruption also offered an opportunity for India to partially decouple from the
global economy, mitigating the risk of a recession caused by external contagion. Additionally, the presence of a substantial number of small
enterprises and self-employed professionals in India played a crucial role in sustaining demand and facilitating a resilient recovery, thereby
reducing vulnerability to the global economic slowdown.
Amidst global uncertainties emanating from the war in Ukraine, high commodities prices and rising interest rates across markets, the
banking and non-banking financial service sectors in India remained resilient as noted by the RBI’s Monetary Policy Committee (MPC)
in April 2023.
The MPC increased the repo rate six times, by an aggregate of 250 basis points in the current rate tightening cycle from May 2022 to
Feb 2023 to fight inflation. This pushed borrowing costs to a level of January 2019. The RBI raised its growth forecast for the fiscal
year beginning in April 2023 to 6.5% from 6.4% and lowered its inflation forecast to 5.1% from 5.3% during June 2023 monetary policy
announcement, taking into account a normal monsoon, amongst other factors.
Repo Rate Hikes During FY23
7.00%
6.50%
6.00%
5.50%
5.00%
4.50%
4.00%
3.50%
Apr 2022 Jul 2022 Oct 2022 Jan 2023 Apr 2023
Source: Reserve Bank of India
Due to rising inflationary pressures, the RBI has been reversing its accommodative monetary policy stance. As of February 2023, the
benchmark repo rate has been increased by 250 bps to 6.5% from the base level of 4% in October 2020. CRISIL Market Intelligence and
Analytics (MI&A) expects the upward movement in interest rates to lead to NBFC debt being re-priced at a higher cost. However, borrowing
costs for NBFCs in Fiscal 2023 was still below pre-COVID levels.

enhanced India’s financial inclusion and helped fuel the credit cycle
Increased borrowing cost for NBFC in Fiscal 2023
in the country.
9.0%
8.3% 8.5%
8.5% 8.2% The growing importance of the NBFC sector in the Indian financial
8.0% 7.7% system is reflected in the consistent rise of NBFCs’ credit as a
7.4%
7.5% 7.2% proportion to GDP.
7.0%
6.5%
Rising share of NBFC Credit in GDP (at end-March)
6.0%
FY18 FY19 FY20 FY21 FY22 FY23
Source: CRISIL MI&A a. NBFCs' and SCBs' Credit to GDP Ratios

16 62
60.0
59.1 59.3
Indian NBFC sector review 14 60
57.3
The Government of India and the RBI have been constantly 12 58
54.6
reviewing the financial sector and implementing policy reforms to 10 56
Per cent
Per cent
facilitate the growth and reach of the banking sector. The Indian 8 54
51.6
52.7
51.2
51.2
banking industry has recently witnessed the rollout of innovative 6 52
51.3
banking models like payments and small finance banks. In recent 4 50
years, India has also focussed on increasing its banking sector
11.5
12.1
12.3
13.6
12.3
48
8.6
8.6
8.9
9.6
9.6
2
reach and promoting financial inclusion, through various schemes
0 46
like the Pradhan Mantri Jan Dhan Yojana, Pradhan Mantri Mudra 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Yojana, and Pradhan Mantri Jeevan Jyoti Yojana. Schemes like these NBFCs' Credit to GDP ratio SCBs' Credit to GDP ratio (RHS)
coupled with major banking sector reforms like digital payments,
neo-banking, a rise of Indian NBFCs and fintech have significantly Source: RBI
According to CRISIL MI&A, NBFC credit grew at a CAGR of 9.70% during FY18 to FY23 and it expects NBFC credit to grow at 12%-14%
between FY23 and FY25. In FY23, credit growth improved significantly and is at par with pre-COVID levels. NBFC’s share in the overall
credit increased from 12% in FY08 to 18% in FY23 and is projected to remain stable in FY24. CRISIL MI&A believes NBFCs will continue to
play an important role in the Indian credit landscape, given their inherent strength of providing last-mile funding and catering to customer
segments that are not catered by banks.
NBFC credit to grow at CAGR 12-14% between Share of NBFC credit in overall systemic
FY23 and FY25 credit remained 18% in FY23
4%
(In ` trillion) R~12-1
45 CAG 42 16%
9% 11% 10% 9% 8%
17%
40 38
% 34
R~9.7
35 CAG
29
30 27
25 73% 71% 72% 73% 74%
24 66% 65%
25 21
20
15
10 18% 18% 18% 18% 18% 18% 18%

5
FY18 FY19 FY20 FY21 FY22 FY23 FY24P
0
FY18 FY19 FY20 FY21 FY22 FY23 FY24P FY25P NBFC credit Bank credit Others
Source: CRISIL MI&A, RBI

P - Projected
Profitability (ROA) of NBFCs improved in FY23 led by declining credit costs according to CRISIL MI&A. The decline in credit cost was on
account of gradual recovery across sectors with the waning impact of pandemic and improving collection efficiency aiding it. Despite increase
in borrowing costs, the overall profitability of NBFCs improved in FY23, primarily on account of lower credit costs due to contingency
provisioning buffers created over the course of the previous two financial years.

01 CORPORATE
STATEMENT
Reduction in credit costs for NBFCs in FY23 Profitability (RoA) improved on account of decline
in credit costs in FY23
1.8% 1.8%
2.0% 1.6%
1.5% 1.4% 1.5%
1.4% 1.4%
1.2%
0.8%
0.6%
FY18 FY19 FY20 FY21 FY22 FY23 FY18 FY19 FY20 FY21 FY22 FY23
Source: CRISIL MI&A
Main regulatory updates • RBI notified the requirement to obtain Legal Entity Identifier
Regulatory developments, such as the Reserve Bank of India's shall be extended to Primary (Urban) Co-operative Banks
(RBI) prompt corrective action (PCA) framework for NBFCs, have (UCBs) and Non-Banking Financial Companies (NBFCs). It
contributed to a more balanced regulatory environment between was instructed that the non-individual borrowers enjoying
banks and non-banks.The revision of Income Recognition and Asset aggregate exposure of ` 5 crore and more from banks and
Classification (IRAC) norms in 2021 has further levelled the playing financial institutions shall be required to obtain LEI codes in
field for NBFCs. These policy reforms aim to bolster corporate accordance with the timeline.
governance, fostering sustainable growth within the sector.
Company Overview
The main regulatory developments during FY23 were: Moneyboxx Finance Limited (Moneyboxx or the Company) is a BSE-
listed, non-deposit taking Non-Banking Finance Company (NBFC-
• Scale-based regulations (SBR) were introduced by the RBI on
ND) registered with the Reserve Bank of India. With the aim of
October 22, 2021, with a view to develop a strong and resilient
driving financial inclusion and providing tech-enabled, cost-efficient,
financial system.The SBR approach renders the regulation and
and transparent financing to underserved micro enterprises, it
supervision of the NBFCs to be a function of their size, activity
started lending operations by opening its first branch in Rajasthan in
and perceived riskiness.These regulations were effective from
February 2019. Since then, it has successfully scaled up its presence
October 01, 2022.The regulatory structure for NBFCs as per
to 61 branches across six states as of March 2023: Rajasthan (16),
these regulations comprises four layers: NBFC - Base Layer
Haryana (12), Madhya Pradesh (14), Punjab (8), Uttar Pradesh (8),
(NBFC-BL), NBFC - Middle Layer (NBFC-ML), NBFC - Upper
and Chhattisgarh (3).
Layer (NBFC-UL), and NBFC - Top Layer (NBFC-TL).The Base
Layer includes non-deposit taking NBFCs below the asset size
The Company caters to the credit needs of micro entrepreneurs by
of ` 1,000 crore.
providing unsecured business loans from ` 70,000 to ` 3 lakh for a
• RBI vide its circular dated April 19, 2022, notified the specific tenure up to 36 months and secured business loans up to ` 10 lakh
disclosure requirements in the financial statements to specific for a loan tenure ranging from 12 months to 84 months.
NBFC layers. These disclosures are in addition to and not in
substitution of the disclosure requirements specified under Diversified Operations
other laws, regulations, or accounting and financial reporting Moneyboxx has diversified operations across six states with a
standards. network of 61 branches as of March 2023. During the year, the
• RBI vide its circular dated May 13, 2022, allowed scheduled Company further improved its geographic presence by expanding
commercial banks (SCBs) and small finance banks (SFBs) to its operations in existing states and entering into Chhattisgarh.
lend money to Non-Banking Finance Companies (NBFCs) and Operations FY20 FY21 FY22 FY23
NBFFC – Micro Finance Institutions (NBFC-MFIs) respectively Branches 11 22 30 61
for the purpose of on-lending to the priority sectors on an Gross 33.91 55.44 112.32 341.21
on-going basis. Disbursements
• The guidelines on digital lending were introduced by RBI (` crore)
on September 02, 2022, with the principle that the business Cumulative
of lending can be only carried upon by entities which are Disbursements
governed by the RBI or have the permission to do so under (` crore) 34.08 89.51 201.83 543.03
any other law. These guidelines aim to make the lending AUM (` crore) 29.28 61.88 119.05 338.11
process unambiguous and fair.

Assets under management (AUM) of the Company stood at ` 338 crore land through CSR tie-ups and internal contributions. The effects of
as of March 31, 2023. During FY23, the Company added 31 branches and these initiatives will be significant and long-lasting: improvement
expanded its product offering by launching secured business loans. The in borrowers' income, the protection of the environment through
Company’s AUM is well diversified across geographies with a focus on soil conservation and improved air quality, and the sustainability of
essential sectors, lending stability to portfolio quality. food sources. The Company has planted 3,400 fruit-bearing trees,
AUM by States * Mar-22 Mar-23 Mar-22 Mar-23 provided free vet consultations to 5,700+ livestock customers and
(` crore) (% share) diagnosed 61,000+ cattle health up to March 2023.
Rajasthan 39 95 31.9% 27.7% I. MARKET OPPORTUNITY
Madhya Pradesh 30 92 24.5% 26.8%
Haryana 28 70 23.4% 20.3%
S mall business loans under ` 10 lakh: Severely
Punjab 24 61 19.6% 17.7%
underserved segment
Microfinance borrowers at the bottom of the pyramid, where
Uttar Pradesh 1 18 0.5% 5.2%
the average loan amount is less than ` 50,000, are adequately
Chhattisgarh - 8 - 2.3%
served by over 230 lenders (including MFIs, NBFCs and Banks).
Total AUM 121 344 100.0% 100.0%
However, such a small amount of finance is inadequate for
* AUM before Ind-AS adjustments acquiring income-generating assets or working capital to bring
about a significant change in their income profile. Secured
Driving financial inclusion loans of over ` 10 lakh are also aggressively pursued by Banks
Moneyboxx is transforming lives and driving financial inclusion by and NBFCs. However, the ‘Missing Middle’ segment,
providing credit for income generation opportunities to micro unsecured/secured business loans of ` 1 lakh to 10 lakh,
entrepreneurs in important and essential segments (livestock, kirana, is severely underserved due to problems in assessment of
retail traders, micro-manufacturers) in Tier-III and beyond places. It income in the absence of ITR/GST/Banking/books of accounts,
has transformed the lives of more than 75,000+ borrowers (including inadequate credit history and imperfect collateral.
co-borrowers) with cumulative disbursements of ` 543 crore up
to March 2023 and is driving financial inclusion with 55% of the Fintech lenders are also unable to serve this segment due
Company’s unique borrowers' being women and 34% new-to-credit. to lack of adequate data and minimal digital footprint, and
addressing this segment requires on-ground presence for
Beyond-lending Impact Initiatives understanding the borrowers, their cashflows and effective
In addition to directly offering loans for income generation underwriting & collection efficiency.
opportunities to the underserved micro entrepreneurs, Moneyboxx
The underserved ‘Missing Middle’ segment presents a huge market
offers job opportunities to the local talent, contributing to the opportunity.The market for residential property backed secured
inclusive growth of the local economy. Moreover, as part of its MSME lending is estimated at ` 22 trillion as per CRISIL
impact initiatives, the Company employs full-time veterinarians Research. Given the huge unmet credit demand and addressable
(impact officers) in branches to counsel livestock borrowers market of ` 22 trillion, micro enterprise lending presents a huge
on cattle health, nutrition, and breed improvement to enhance opportunity. While competition from large banks and NBFCs,
milk yield. The Company is also promoting sustainable farming and any changes in regulation could be potential threats, the
efforts, which will significantly increase borrowers' agricultural segment has high entry barriers, and the policy and regulatory
income. These activities include free distribution and upkeep of framework continues to be supportive given the thrust of the
fruit-bearing trees to dairy farmers or borrowers' with agricultural government on promoting financial inclusion.
Small Business Loans (ticket size <`10 lakh) to grow at 16-18% CAGR between FY22 and FY25
(` billion)
8%
~16-1
3500 CAGR
2,946
3000
2,567
R~22%
2500 CAG 2,203
1,861
2000 1,675
1,507
1500 1,144
827
1000
500
0
Mar-18 Mar-19 Mar-20 Mar-21 Mar-22 Mar-23P Mar-24P Mar-25P
Note: Above data includes business loans given to MSMEs up to ` 10 lakh ticket size and reported in consumer bureaus of CICs, P- Projected
Source: CRI Highmark, CRISIL Research

01 CORPORATE
STATEMENT
II. OUR PROVEN & DIFFERENTIATED ‘PHYGITAL’ Our Unique Approach

MODEL •
Direct-to-customer: Reaching out to customers directly
Moneyboxx addressing the missing middle customers without third-party agents, hence focussing on relationship-
Moneyboxx has successfully served this segment using based business and not product-based approach
relationship-assisted branch model and leveraging technology
with fully digital processes and proven underwriting and •
Digital approach: Completely digital processes, right
scalability. The Company has been able to successfully design from onboarding to credit assessment to approval,
its systems and processes to map the customer journey end-to- disbursement, collection, reporting and analysis and
end ‘fully digitally’, including income and credit assessment based fully leveraging IT for effective and efficient delivery
on deep industry understanding, analytics, and automation, of credit
thus, overcoming peculiar issues in lending to this segment.
•
Strong underwriting capabilities and unique
The Company follows a ‘phygital’ business model with on-
credit methodology: Robust credit underwriting
ground presence for better understanding of customers while
backed by non-traditional & non-financial alternative
leveraging technology to the fullest extent in digitising processes
data sources and sector-specific inputs. In-depth
and applying IT in decision-making, reporting and analytics.
analysis of target customers’ enterprises for segmental
The Company has established a strong presence in six states understanding and unique methodology for a diverse set
with sixty-one branches and achieved AUM of ` 338 crore of micro enterprises covering livestock, trading, services,
with robust and best-in-segment asset quality metrics. and small manufacturers
III. FY23 PERFORMANCE REVIEW

Moneyboxx Finance Limited FY22 FY23 % YOY
Branches 30 61 103%
Active Customers 11,468 27,579 141%
Employees 313 735 135%
Business (` crore)
Disbursements during the year 112.32 341.21 204%
AUM as of March 31 119.05 338.11 184%
Income & Profitability (` crore)
Total Income 23.31 50.44 116%
Profit (Loss) Before Taxes -6.52 -9.94
Profit (Loss) After Taxes -3.72 -6.80
Fund Raise (` crore)
Equity Capital raised during the year 14.42 48.39
Debt raised during the year 89.99 235.17
Debt repaid during the year -37.48 -96.59
Capital Position (` crore)
Equity as of March 31 34.51 76.40
Debt as of March 31 91.40 231.37
Subordinated Debt as of March 31 6.60 6.63
Strong growth in Disbursements & AUM to a net loss of ` 2.70 crore in Q3 FY23. This was achieved
The Company reported robust business growth in FY23 led by on the back of growing AUM, rising branch productivity with
branch expansion and higher productivity. Disbursements more maturing operations, and improved funding visibility from
than tripled to ` 341 crore in FY23 from ` 112 crore in FY22 banks and co-lending and BC lines, supported by ‘ACUITE
driven by branch expansion (addition of 31 branches in FY23) BBB- Stable’ credit rating. The Company has strong unit
and strong improvement in branch productivity. AUM grew economics (NIM spread of over 15% in Q4 FY23) and proven
by 184% to ` 338 crore as on March 31, 2023, in comparison to
underwriting capabilities leading to low credit costs. Declining
` 119 crore as on March 31, 2022, led by strong business growth
marginal costs of borrowing, improving branch productivity
and lending partnerships.Total Income grew strongly by 116% to
` 50.44 crore in FY23 compared to ` 23.31 crore in FY22, in line with vintage and increased share of secured lending business,
with strong growth in business and AUM. and the benefit of operating leverage with growing scale of
operations are levers for further improvement in profitability.
Achieved profitability in Q4 FY23 with Growing Scale
& Improving Productivity Operational efficiency has been consistently improving with
The Company reached an inflection point in profitability in growing AUM. Operating expenses as a percentage of average
Q4 FY23, posting profit after taxes of ` 0.42 crore compared AUM declined from 24.5% in FY21 to 19.8% in FY22 and

further declined to 15.4% in FY23. Lower Opex of 14.5% drove the improvement in profitability in Q4 FY23 compared to Opex of
19.5% in Q4 FY22.
Improving Operating Efficiency Annual Quarter
(` crore) FY21 FY22 FY23 Q4 FY22 Q4 FY23
Operating Expenses 11.17 17.94 35.31 5.12 10.45
Closing AUM 61.88 119.05 338.11 119.05 338.11
Average AUM 45.58 90.47 228.58 105.20 287.46
Operating expenses % of Average AUM 24.5% 19.8% 15.4% 19.5% 14.5%
Robust Underwriting & Strong Portfolio Quality

Moneyboxx has best-in-segment asset quality and low credit costs due to its robust underwriting standards, strong collection
efficiency and focus on essential sectors (livestock, kirana, retail traders, micro-manufacturers). It has strong asset quality metrics
with low Gross NPAs and low credit costs.
ross NPA of 0.59% and Net NPA of 0.30% as on March 31, 2023 remained stable compared to Gross NPA of 0.62% and Net NPA of 0.31%
G
as on March 31, 2022. Credit costs including write-offs and changes in ECL provisions was 1.48% of average AUM in both FY23 and FY22.
Asset Quality 31-Mar-22 31-Mar-23
Gross NPA (90+ PAR % of AUM) 0.62% 0.59%
Net NPA 0.31% 0.30%
Loan write-offs (` crore) 0.96 2.47
Loan write-offs as % of average AUM 1.07% 1.08%
Credit costs (Loan write-offs & Changes in ECL provisions, ` crore) 1.34 3.39
Credit costs (as % of average AUM) 1.48% 1.48%
Strong Capitalisation and Diversification of Funding of the Company. Out of the total ` 13.45 crore amount of
Sources warrants issue, ` 3.36 crore (25%) was received in September
2022.
Capital Position 31-Mar-22 31-Mar-23
Equity (` crore) 34.51 76.40
The Company continues to improve its funding profile with an
Debt (` crore) 91.40 231.37
increasing share of low-cost funding from banks in its funding
Subordinated Debt (` crore) 6.60 6.63
mix in FY23.The Company was supported by 23 active lenders
Leverage Ratio (TOL / Owned 3.41 3.67
as of March 31, 2023 including five banks compared to 18
Funds)
lenders as of March 31, 2022. Addition of notable lenders
during FY23 included State Bank of India, IDFC First Bank,
The Company remains adequately capitalised with Leverage
Utkarsh Small Finance Bank, Tata Capital Financial Services
ratio (TOL/Owned Funds) at 3.67 times as of March 31, 2023
Limited and Manaveeya Development & Finance Pvt Ltd (Oiko
compared to 3.41 as on March 31, 2022. The Company has
Credit).
raised adequate equity capital over the last four years to fund
its expansion and maintain a prudent capital structure. Debt (` crore) 31-Mar-22 31-Mar-23
Banks 10.23 57.00
Equity Capital of the Company increased from ` 19.03 crore NBFCs/Funds/FIs 74.17 154.21
as on March 31, 2019 to ` 76.40 crore as on March 31, 2023 PTC Securitisation 6.99 -
supported by equity capital infusion of ` 74.45 crore from NCD - 20.15
FY20 through FY23 in four rounds of private placement and Total 91.40 231.37
issue of warrants. During FY23, the Company raised a total of
` 48.39 crore of capital including ` 3.36 crore through issue Liquidity & Asset-Liability Management
of warrants to promoters. The Company has a prudent approach towards liquidity
Capital Raise FY20 FY21 FY22 FY23 Total management and had a comfortable liquidity position as on
(` crore) March 31, 2023. In terms of asset-liability position by time
Equity Capital 11.65 - 14.42 45.02 71.09 buckets, it had positive cumulative mismatch across time
Warrants - 3.36 3.36 buckets. The Company borrows funds at fixed and floating
Total 11.65 - 14.42 48.39 74.45 rates and lends at fixed rates with periodic review of its
lending rate considering the trends in market interest rate, its
Warrants: 11,70,000 fully convertible warrants were issued to cost of funds and competition.
promoter directors on a preferential basis at an issue price
of ` 115 per warrant on September 30, 2022. The warrants Human Resources
are convertible at the option of the warrant holder, in one Moneyboxx recognises the significance of its human
or more tranches, within eighteen months from the date of capital and considers employees as crucial stakeholders
allotment into equivalent number of fully paid-up equity shares for the organisation's success. For employee retention and

01 CORPORATE
STATEMENT
development of human capital, Moneyboxx has various We recognise that risk is an integral part of business and are
employee-centric initiatives such as internal publications committed to managing the risks in a proactive and efficient
and circulars, performance updates, feedback and surveys, manner. Accordingly, we adhere to a Risk Management Policy
learning and development initiatives, employee engagement which includes identification, assessment and control of
programmes, career development opportunities, responsive elements of risk, which the Board may view as threats to
grievance handling processes, regular trainings for skill the existence or performance of the Company.The Company
development, work-life balance, flexible work-from-home has also constituted a Risk Management Committee in line
and leave policies. with the new scale-based regulations to frame, implement, and
monitor the risk management plan for the Company from time
Moneyboxx follows the motto of ‘One Team, One Dream’ to time.
wherein regardless of their job title or position in the team,
they are valued for what they bring, do, and have to say. It's the Internal Controls
diversity of people and their views, ideas and experiences, and Moneyboxx has adequate internal controls and standardised
valuing these differences that make us stronger. operating processes that are envisaged to protect assets and
business efficiency. The Company has established strong and
The Company's headcount increased from 313 in March 2022
well-entrenched internal control procedures commensurate
to 735 in March 2023.
with its size and operations and relevant to its broad domain
of the lending business.
Risk Management
We have a strong risk management framework through which The efficacy and adequacy of internal controls and their
we identify the risks associated with our business and also execution are driven by the ethos of striving for constant
deploy mitigation measures. Credit risk is one of the main improvement. The Company conducts internal audit through
risks, for which we have a strong risk management framework its internal audit team and its report is duly placed in the
right from the loan application to disbursement and collection. audit committee. Audit Committee reviews the internal
control system and looks into the observations of the
The key elements of our risk management framework include:
statutory and internal auditor.This includes review of policies
• Robust Credit Underwriting: Use of non-traditional and and procedures adopted by the Company for ensuring the
non-financial alternative data sources and sector-specific orderly and efficient conduct of its business and fixing
inputs responsibility against all the controls.
• Strong Risk and Compliance Culture: We believe in

The management tests the controls across processes and
supporting growth plans commensurate with strong risk
redressal of any deviations in business operations is undertaken.
and compliance culture
The Audit function provides reasonable assurance regarding
• Diversification: We strive to spread business and the effectiveness and efficiency of operations, safeguarding
portfolio across diverse sectors and geographies in of assets, reliability of financial records and reports and
order to mitigate concentration risks compliance with applicable laws and regulations.

Corporate Governance Report
1.
Company’s Philosophy on the Code of As on March 31, 2023 the Board composition is of 6 (Six)
Governance directors out of which 2 (Two) are independent (including one
Corporate Governance is an insight into the management of Woman director) and 2 (Two) are non-independent directors.
affairs of the Company. It implies governance with the highest As on the aforesaid date, the Company has 4 (Four) non-
standards of professionalism, integrity, accountability, fairness, executive directors and 2 (Two) executive directors. All the
transparency, social responsiveness, and business ethics for Independent Directors have confirmed that they meet the
efficient and ethical conduct of business. 'independence' criteria as mentioned under regulation 16(1)
(b) of the SEBI LODR and section 149 of the Companies Act,
For your Company, Corporate Governance is more than a 2013.
set of processes and compliances. For this purpose, it is duly
ensured that the spirit of governance is present throughout None of the Directors is related to each other and there are
in the Governance mechanism in the Company. The no inter-se relationships between the Directors.
Board along with its committees undertake its fiduciary
The Board of Directors of your Company consists of
responsibilities to all its stakeholders by ensuring transparency,
professionals from varied disciplines and possess adequate
fair play and independence in its decision making. In pursuing
knowledge and skills. Detailed profile of the Directors
its mission “To deliver easy, cost efficient and technology
is available on the Company’s website at http://www.
driven financing solutions to aspiring micro enterprises”, your
moneyboxxfinance.com/
company has made efforts to intensify the level of reporting
system, improving internal control, ensure transparency,
As per the requirement under SEBI (LODR) Regulations,
promptness and fairness in disclosures and communication
2015, none of the Directors on the Board is a member of
with all the relevant stakeholders which ultimately contribute
more than 10 Committees and Chairperson of more than
to overall governance.
5 Committees (Committees being Audit Committee and
Stakeholders Relationship Committee as per Regulation
For the purpose of ensuring fair Corporate Governance,
26(1) of the Listing Regulations), across all public companies
the Government of India has put in place a framework
in which he/she is a Director. The required disclosures
based on the stipulations contained under the Companies
regarding their position in the committees have been duly
Act, 2013, SEBI Regulations, RBI Directions/Circulars
attained by the Company.
Accounting Standards, Secretarial Standards, etc. Strong
governance practices rewards the company in the sphere
Furthermore, as per the requirement laid under the section
of stakeholders` confidence, trustworthiness, market
165(1) of Companies Act, 2013 none of the Directors hold
capitalization, valuations, and high credit ratings in positive
office in more than 20 companies and in more than 10 public
context apart from obtaining of awards from appropriate
companies.
authorities. Your Company ensures to make all efforts to
comply with such standards and ethics. Also, in terms of Regulation 17A of SEBI (LODR) Regulations,
2015, no Director holds Directorships in more than 7 listed
2. Board of Directors companies and none of the Director serve as Independent
a) Composition of Board Director in more than 7 listed companies. The Whole-time
Your Company has an optimum mix of Executive, Non- Directors and CEO do not serve as an Independent Director
Executive, and Independent Directors, which is essential in any listed company.
to effectuate the two main functions of the Board viz.
Governance and Management. During the year under b) Other Directorship and Attendance of Directors
review, the Company has complied with the provisions The names and categories of Directors on the Board during
relating to corporate governance as provided under the Financial Year 2022-23, their attendance at Board Meetings
the Listing Regulations (hereinafter, “SEBI LODR”), the held during the Financial Year 2022-23 and at the last Annual
Companies Act, 2013 and also in terms of Guidelines as General Meeting and the number of Directorship and
issued by Reserve Bank of India (“RBI") with respect to Committees Chairmanship/Membership held by them as on
Composition of Board. March 31, 2023 are given hereunder:

01 CORPORATE
STATEMENT
Name Date of Category of No. of No. of other Committee Directorship

Appointment Director Directorships Memberships/ held in Other
in other Chairmanships** Listed Companies
Companies* Chairperson Member and Category of
Directorship
Mr. Uma Shankar Paliwal 11/01/2019 Chairman cum 2 Nil Nil Nil
DIN: 06907963 Independent
Director
Ms. Ratna Dharashree 11/01/2019 Independent 2 2 0 Dilip Buildcon Limited
Vishwanathan Director Fusion Microfinance
DIN: 07278291 Limited (Independent
Director)
Mr. Deepak Aggarwal 12/10/2018 Whole-time Nil Nil Nil Nil
DIN: 03140334 Director
Mr. Mayur Modi 12/10/2018 Whole-time Nil Nil Nil Nil
Mr. Atul Garg 15/09/2020 Non-Executive Nil Nil Nil Nil
Mr. Govind Gupta 12/10/2018 Non-Executive Nil Nil Nil Nil
* Excludes Directorships/Chairpersonships in Associations, Private Limited Companies, Foreign Companies, Government Bodies, Companies registered
under Section 8 of the Act and Alternate Directorships.
** Represents Chairpersonships/Memberships of Audit and Stakeholders Relationship Committees in all companies as required under Regulation 26(1)(b)
of the Listing Regulations.
The Twenty Eighth (28th) Annual General Meeting (‘AGM’) of the Company for the Financial Year (‘FY’) 2021-22 was held on September 19,
2022. All the Directors of the Company were duly present at the 28th AGM.
The Board met six times on the following dates during FY 2022-23 and the gap between two meetings at any time did not exceed 120
days. The quorum required was present for all the Board Meetings. The details of Meetings attended by the Directors during the year are
given below:
Name of the Attendance at the Meetings held on No. of Attendance

Director Meetings
April 23, May 27, August 10, October 14, November February
attended (%)
2022 2022 2022 2022 12, 2022 13, 2022
during the
tenure
Mr. Uma Shankar √ √ √ √ √ √ 6 100
Paliwal
Ms. Ratna Dharashree √ √ √ √ √ √ 6 100
Vishwanathan
Mr. Mayur Modi √ √ √ √ √ √ 6 100
Mr. Govind Gupta √ √ LOA √ √ √ 5 83%
Mr. Deepak Aggarwal √ √ √ √ √ √ 6 100
Mr. Atul Garg LOA √ √ √ √ √ 5 83%
LOA – Leave of absence
c) Shareholding of Non-Executive Directors as on March 31, 2023:

None of the Non-Executive Director holds any shares in the Company. The Company has not issued any convertible instruments to
the Non-Executive Directors of the Company as well.
d) Conduct of Board Proceedings

The Company has an adequate code of conduct in place to ensure that the business is carried upon with highest standards of ethics.
The meetings of the Board are conducted at regular intervals in order to discuss and decide on business strategies/policies and review
the financial performance of the Company from time to time.

The dates of the Board Meetings are fixed well in advance conditions stating the appointment of Independent Directors
and intimated to the Board members to enable the Directors are in accordance with the Companies Act, 2013 and the
to plan their schedules accordingly. The agenda papers are Listing Regulations.
circulated to the Directors in advance before the meeting.
However, certain exigent proposals are tabled at the Board The Independent Directors have submitted declarations
Meeting under “Any other items” of the Board Agenda with that they meet the criteria of independence as provided in
the approval of the Chairman and consent of all the Directors Regulation 16(1)(b) of the SEBI Listing Regulations and that
present. The Company Secretary attends all the meetings of they are not aware of any circumstance or situation, which
the Board and its Committees and is, inter alia, responsible exist or may be reasonably anticipated, that could impair or
for recording the minutes of such meetings. The agenda and impact their ability to discharge their duties with an objective
related information are circulated through electronic mode. independent judgement and without any external influence.
This has reduced paper consumption, thereby enhancing the
sustainability efforts of the Company. Video conferencing
Meetings of Independent Directors
facility is provided to facilitate Directors who are unable to A meeting of the Independent Directors of the Company
attend the Meeting in person in accordance with the provisions was held on March 31, 2023, without the presence of non-
of the law. independent Directors and the members of the management,
and both the Independent Directors were present at the
e) Code of Conduct meeting in compliance with Schedule IV to the Act and
The Code of Conduct aims to ensure consistent standards of regulation 25(3) of SEBI Listing Regulations.
conduct and ethical business practices across the Company.
The Company has laid down the Code of Conduct which g) Familiarization Program for Independent Directors
is applicable to all its directors whether executive or non- Regulation 25(7) of the SEBI (LODR) Regulations mandates the
executive which can be accessed on the website of the Company to familiarize the Independent Directors with the
Company at http://www.moneyboxxfinance.com/. The Company, their roles, rights, responsibilities in the Company,
Board has also laid down a Code of Conduct for the Non- nature of the industry in which the Company operates, business
executive Directors of the Company, which incorporates the model of the Company, etc. through a detailed presentation.
duties of Independent Directors as laid down in Schedule IV to The Independent Directors of the Company are familiarized
the Act which can be accessed on the website of the Company through familiarization of major developments and updates
at http://www.moneyboxxfinance.com/. on the Company and group, etc., throughout the year on an
ongoing and continuous basis. Such programs/presentations
In respect of the financial year 2022-23, all Board Members and
also provide an opportunity to the Independent Directors to
senior management personnel have affirmed compliance with
interact with the senior leadership team of the Company and
the code of conduct and a declaration to this effect signed by
help them to understand the Company’s strategy in a better
the Co- CEO(s) is a part of this Annual Report.
manner. Slides on familiarization program can be accessed
from www.moneyboxxfinance.com.
f)
Independent Directors and confirmation of
independence
h)
Skill, expertise, and competence of the Board of
The Board of the Company comprises of two Non- Executive Directors
Independent Directors which formulates 33% of the total
The Directors on the Board of the Company are adequately
strength of the Board.
skilled and have relevant expertise as per Industry norms
The Non-Executive Independent Directors fulfill the and have rich experience in the relevant Industry. In the table
conditions of independence specified in Section 149(6) of the below, the specific areas of focus or expertise of Individual
Companies Act, 2013 and Listing Regulations. The terms and Board Members as on March 31, 2023 have been highlighted-
Area of expertise
Board
Name of the Director Global Merger& Sales &
Financial Leadership Technology Services &
Business Acquisitions Marketing
Governance
Mr. Uma Shankar Paliwal Yes No Yes Yes Yes Yes No
Ms. Ratna Dharashree
Yes No Yes Yes Yes Yes No
Vishwanathan
Mr. Mayur Modi Yes Yes Yes Yes Yes Yes Yes
Mr. Govind Gupta Yes No Yes Yes Yes Yes Yes
Mr. Deepak Aggarwal Yes Yes Yes Yes Yes Yes Yes
Mr. Atul Garg Yes No Yes Yes Yes Yes Yes

01 CORPORATE
STATEMENT
i) Re-appointment of Director • recommend appointment, remuneration and terms

During the year under review, no re-appointment of any of appointment of auditors of the Company;
Director was made. • approve payment to statutory auditors for any
other services rendered by them;
j) Performance Evaluation
In pursuance with the relevant provisions of Companies Act, • review with the management, the annual financial
2013 and the Listing Regulation, the Board has duly carried out statements before submission to the Board for
the annual performance evaluation of its own performance, the approval, focusing particularly on:
Directors individually as well as the evaluation of the working a)
matters to be included in Director’s
of its Board Committees. For this purpose, a structured Responsibility
questionnaire was prepared, covering various aspects of the
Board’s functioning such as adequacy of the composition of b) Statements to be included in Board’s report;
the Board and its Committees, Board culture, execution and any changes in accounting policies and
c)
performance of specific duties, obligations, and governance. practices;
The performance evaluation of the Executive Directors d) major accounting entries involving estimates
and the Non-Independent Directors was carried out by based on the exercise of judgment by
the Independent Directors. The Directors expressed their management;
satisfaction with the evaluation process.
e) significant adjustments resulting from the
3. Committees of the Board audit findings;
The constitution of Committees by the Board focuses f)

compliance with listing and other legal
on specific areas and make informed decisions within requirements relating to financial statement;
the framework of delegated authority and make specific
g) disclosure of related party transactions;
recommendations to the Board on matters within their
areas or purview. The decisions and recommendations of the h) qualification in draft audit report.
Committees are placed before the Board for information
or for approval, as required. The Committees operate as • review with the management, the quarterly financial
empowered agents of the Board as per their Charter/Terms statement before submission to the Board for their
of Reference. The minutes of the meetings of all Committees approval;
of the Board are placed before the Board for discussions/ • recommend appointment, remuneration and terms
noting.The composition and functioning of these Committees of appointment of internal auditors, tax auditors,
are in compliance with the applicable provisions of the
secretarial auditor and any matters of resignation
Companies Act, 2013, SEBI LODR and also in consonance
or dismissal;
with the Corporate Governance Master Directions issued
by the Reserve Bank of India for Non-Deposit taking non- • discuss with the statutory auditors before the audit
systematically important NBFC’s and Scale based regulations commences, the nature and scope of the audit as
for NBFC introduced on October 22, 2022. As on March 31, well as post audit discussion to ascertain areas of
2023, the following committees were in operation: concern;
a) Audit Committee • review the internal audit program, ensuring co-

ordination between the internal and statutory
Constitution
auditors, ensuring that the internal audit function is
Your Company has a duly constituted Audit Committee, adequately resourced and has appropriate standing
and its composition meets the requirements of Section within the Company and to request internal
177 of the Companies Act, 2013 and Regulation 18 auditor to undertake specific audit projects, having
of the Securities and Exchange Board of India (Listing informed the management of their intentions;
Obligations and Disclosure Requirements) Regulations,
2015. All members of the Committee are financially • consider the major findings of internal investigations
literate and having accounting or related financial by the internal auditors into matters where there is
management expertise. suspected fraud or irregularity or failure of internal
control systems of a material nature and reporting
Terms of reference the matter to the Board;
The broad terms of reference of this Committee inter-
• consider any material breaches or exposure;
alia includes the following:
breaches of regulatory requirements or of ethical
• Oversight of the Company’s financial reporting codes of practice to which the Company subscribes,
process and disclosure of its financial information or of any related codes, policies, and procedures,
to ensure that the financial statements are correct, which could have a material effect on the financial
sufficient and credible; position or contingent liabilities of the Company;

• discuss significant findings with internal auditors and The Meetings of the Audit Committee are also attended by
initiate follow up action thereon; the Whole-time Director’s & CEOs, the Chief Financial Officer,
• look into the reasons for substantial defaults in and a representative of the Statutory Auditors. The Company
the payment to the depositors, debenture holders, Secretary acts as the Secretary to the Committee. The Audit
shareholders (in case of non-payment of declared Committee acts as a link between the Management, Statutory
dividends) and creditors; Auditors, Internal Auditors and the Board of Directors and
oversees the financial reporting process.
• review performance of statutory and internal auditors
and adequacy of internal control systems;
Mr. Uma Shankar Paliwal, Chairperson of the Audit Committee,
• approve transaction with related parties and subsequent was presented at the AGM of the Company held on September
modification to terms of contract/transaction; 19, 2022.
• scrutinize inter-corporate loans and investments;
b) Nomination and Remuneration Committee
• valuation of any of the undertakings or assets as and Constitution
when necessary;
Your Company has a duly constituted Nomination and
• evaluate adequacy of internal financial control and risk Remuneration Committee, and its composition meets
management system; the requirements of Section 178 of the Companies Act,
• review with management, the statement of uses / 2013 and Regulation 19 of the Securities and Exchange
application of funds raised through an issue (public Board of India (Listing Obligations and Disclosure
issue, rights issue, preferential issue, etc.), the statement Requirements) Regulations, 2015.
of funds utilized for purposes other than those stated
in the offer document/prospectus/notice and the report Terms of reference
submitted by the monitoring agency monitoring the The terms of reference of the Nomination &
utilization of proceeds of a public or rights issue and Remuneration Committee, inter alia, includes the
making recommendation to the Board for taking steps
following:
in relation thereto;
• assess that a person to be appointed as Director
• approve appointment of CFO (i.e., the Whole-time
is ‘fit and proper’ and fulfils the set criteria as may
Finance Director or any other person heading the
be required by the Company;
finance function or discharging that function) after
assessing the qualification, experience and background • review & recommend to the Board on the structure
of the candidate; and composition of the Board of Directors of the
• review functioning of the Whistle Blower Policy; Company;
• carry out any other functions as may be falling within the • evaluate the eligibility of an individual on the
terms of reference of the Audit Committee or as may be basis of his/ her qualification, positive attributes,
delegated to the Committee from time to time. independence and past experience, for appointment
and removal as whole-time director/managing
Meeting and Attendance director/senior management of the Company and
advising the Board of Directors/ Shareholders
The Audit Committee met four times during the year on
with such detailed evaluation in the matter of
May 27, 2022, August 10, 2022, November 12, 2022 and
appointment and removal of such individual;
February 13, 2023.The quorum as required under the statute
was maintained at all the meetings. •
review, recommend and /or approve the
remuneration that can be offered to the proposed
Composition of the Audit Committee and the details of whole-time director/managing director/non-
attendance at the aforementioned meetings are as follows: executive director/ senior management of the
Name of the Category No. of No. of Company;
Member meetings meetings • evaluate the performance of the directors of the
held attended Company and review and recommend to the Board
Mr. Uma Chairman, 4 4 on their re-appointment;
Shankar Paliwal Independent
Director •
review, recommend and /or approve the
Ms. Ratna Member, 4 4 modification in the remuneration of the Whole-
Dharashree Independent time director/ managing director/manager/ non-
Vishwanathan Director executive director and senior managerial personnel;
Mr. Govind Member, 4 3 • formulate remuneration policy relating to directors,
Gupta Non-Executive key managerial personnel and other senior
Director managerial employees of the Company;

01 CORPORATE
STATEMENT
• evaluate performance of directors with respect Terms of Reference

to their role as Independent Director and Board The Stakeholders’ Relationship Committee examines the
members; grievances of stakeholders / investors and the system of
redressal of the same. It also approves the issuance of
Meeting and Attendance
share certificates. The Company endeavors to resolve
The Nomination and Remuneration Committee met two complaints / grievances / queries of stakeholders /
times during the year on May 27, 2022 and August 10, investors within a reasonable period of time.
2022.The quorum as required under the statute was duly
maintained during the meeting. The broad terms of reference of this Committee inter-
alia includes the following:
Composition of the Nomination and Remuneration
Committee and the details of attendance at the • Review statutory compliance relating to all security
aforementioned meeting are as follows: holders
Name of the Category No. of No. of • Consider and resolve the grievances of security
Member meetings meetings holders of the Company, including complaints
held attended related to transfer/transmission of securities,
during the non-receipt of annual report/declared dividends/
tenure notices/balance sheet, issue of new/duplicate
Mrs. Ratna Chairperson, 2 2 certificates, general Meetings, etc.
Dharashree Independent
Vishwanathan Director • Review measures taken for effective exercise of
Ms. Uma Member, 2 2 voting rights by shareholders
Shankar Independent
Paliwal Director • Oversee compliances in respect of dividend
Mr. Atul Garg Member, 2 2
payments and transfer of unclaimed amounts to
Non-
the Investor Education and Protection Fund
Executive
Director
• Oversee compliances in respect of transfer of
shares to the Investor Education and Protection
The Company Secretary acts as the Secretary to the
Fund, in accordance with the provisions of the
Committee. Ms. Ratna Dharashree Vishwanathan,
Companies Act, 2013 and Rules made thereunder,
Chairperson of the Nomination and Remuneration
as applicable from time to time
Committee, was present at the AGM of the Company
held on September 19, 2022.
• Review the various measures and initiatives taken
Nomination and Remuneration Policy by the Company for reducing the quantum of
unclaimed dividends and ensuring timely receipt of
The Nomination and Remuneration Policy of the
dividend warrants/annual reports/statutory notices
Company empowers the Nomination and Remuneration
by the shareholders of the Company
Committee to formulate a process for effective
evaluation of the performance of Individual Directors,
• Oversee and review all matters related to the
Committees of the Board and the Board as a whole.
transfer of securities of the Company
The Board of Directors of the Company has adopted a

• Approve issue of duplicate certificates of the
Nomination and Remuneration Policy (‘Policy’) for the
Company
Company, inter-alia, to deal with the manner of selection
of Board of Directors and KMP and their remuneration.
• Review movements in shareholding and ownership
The Policy is available on the website of the Company
structures of the Company
at http://www.moneyboxxfinance.com/.
• Ensure setting of proper controls, review adherence
c) Stakeholder’s Relationship Committee
to the service standards adopted by the Company
Constitution in respect of various services being rendered by the
Your Company has a duly constituted Stakeholders Registrar and Share Transfer Agents and oversee
Relationship Committee, and its composition meets performance of the Registrar and Share Transfer
the requirements of Section 178 of the Companies Act, Agents
2013 and Regulation 20 of the Securities and Exchange
Board of India (Listing Obligations and Disclosure • Recommend measures for overall improvement of
Requirements) Regulations, 2015. the quality of investor services.

Meetings and Attendance Name of the Category No. of No. of
The Stakeholder and Relationship Committee met once Member meetings meetings
during the year on November 12, 2022. held attended
during
the
The re-constitution of Stakeholder and Relationship
tenure
Committee took place on November 08, 2021 by the
Board which was duly taken on record by the Committee Mr. Deepak Chairperson, 2 2
members on the meeting held on November 12, 2022. Aggarwal Co-CEO and
Whole time
Director
Composition of the Stakeholder and Relationship
Mr. Mayur Modi Member, 2 2
Committee and the details of attendance at the
Co-CEO and
aforementioned meeting is as follows: Whole time
Director
Name of the Category No. of No. of
Mr.Viral Sheth Member, 2 2
Member meetings meetings
Finance
held attended
Controller
* Ms. Ratna Chairperson, 1 1
Dharashree Independent, e) Risk Management Committee
Vishwanathan Non- Constitution
Executive In line with the new Scale Based Regulations introduced
Director by RBI effective from October 21, 2022, the Company is
Mr. Deepak Member, 1 1 required to constitute a Risk Management Committee
Aggarwal Executive at the Board or executive level for monitoring the risk
Director and to strategize action to mitigate risks associated
with the functioning of the Company. As per the said
Mr. Mayur Modi Member, 1 1 requirement, the constitution of said Committee was
Executive approved by the Board on November 12, 2022.
Director
Terms and reference
* Pursuant to the re-constitution of the Committee, Ms. Ratna
Dharashree Vishwanathan was appointed as the Chairperson • Recommend to the Board and then formally
of the Committee. announce, implement, and maintain a sound system
of risk oversight, management, and internal control
d) Asset Liability Management Committee which:
Constitution • Identifies, assesses, manages, and monitors risk; and
The Company has an effective Asset Liability Management • Allows stakeholders to be informed of material
Committee formed in accordance with the directions changes to the company's risk profile.
framed by RBI. During the financial year ended • In discharging its responsibility, the committee is
March 31, 2023, the Committee met two times dated to develop and seek Board approval for a range of
July 22, 2022 and 0ctober 28, 2022. specific duties that it is to carry out. Such duties will
vary depending on the company's circumstances,
Terms of reference the committee's responsibilities and, in particular,
the role of the Board and other committee, such
The terms of reference of Asset Liability Management
as internal audit, operations, finance etc.
Committee include:
• To carry out any other function as may be delegated
• Funding and capital planning by the Board of Directors of the Company from
time to time.
• Pricing, profit planning and growth projections
Composition
•
Address concerns regarding asset liability
mismatches Sr. Name of Category
No. members
• Address interest rate risk exposure 1. Mr. Mayur Modi Chairman, Co-CEO and
Whole time Director
• Review of operational risk from time to time. 2. Mr. Deepak Aggarwal Member, Co-CEO and
Whole time Director
Meeting and attendance 3. Mr.Vikas Bansal Member, Chief Risk Officer
Composition of the Asset Liability Management Note: The Committee has been constituted on November
Committee and the details of attendance at the 12, 2022 in accordance with the new Scale based Regulations
aforementioned meeting is as follows: introduced by the RBI

01 CORPORATE
STATEMENT
4. REMUNERATION OF DIRECTORS
(Amount `)
SI. Name of the Director Sitting Fees for Salary and Incentive/Bonus Total
No. attending Perquisites
Board & Committee
Meetings
1 Mr. Uma Shankar Paliwal 5,40,000 N.A. N.A. 5,40,000
2 Ms. Ratna Dharashree Vishwanathan 5,70,000 N.A. N.A. 5,70,000
3 Mr. Deepak Aggarwal N.A. 126,00,000 50,00,000 176,00,000
4 Mr. Mayur Modi N.A. 126,00,000 50,00,000 176,00,000
5 Mr. Govind Gupta N.A. N.A. N.A. NA
7 Mr. Atul Garg N.A. N.A. N.A. N.A.
During the year under review, the non-executive directors of the Company had no pecuniary relationship or transactions with the
Company, except the payment of sitting fees for the purpose of attending meetings of the Board/Committee of the Company. None
of the Directors have been granted any stock options under the scheme.
Mr. Mayur Modi was re-appointed as the Whole-time Director of Moneyboxx Finance Limited for a period of three years effective
from January 01, 2022, to December 31, 2024. His remuneration for the Financial Year 2022-23 comprises of all-inclusive salary of
` 176,00,000.
Mr. Deepak Aggarwal was appointed as the Whole-time Director of Moneyboxx Finance Limited for a period of three years effective
from September 15, 2020, to September 14, 2023. His remuneration for the Financial Year 2022-23 comprises of all-inclusive salary of
` 176,00,000.
5. General Body Meetings and Postal Ballots

a) The details of Annual General Meeting (“AGM”) held during the last 3 years along with the details of the special resolutions
passed there are as under:
Financial Year Date and Time Venue Special Resolution passed
2019-20 December 21, 2020 Through Video Conferencing No Special Resolution was passed.
12.30 P.M.
2020-21 September 24, 2021 Through Video Conferencing - To Approve upward revision in the remuneration of
12:30 P.M. Mr. Deepak Aggarwal, (DIN: 03140334), as Whole
time Director and Co-CEO of the Company
- To Approve upward Revision In Remuneration
of Mr. Mayur Modi (Din: 08021679), Whole Time
Director And Co-CEO Of The Company
- To Approve re-appointment and Remuneration to
be paid to Mr. Mayur Modi (DIN-08021679) as the
Whole-time Director of the Company
2021-22 September 19, 2022 Through Video Conferencing - To alter the Articles of Association of the Company
11:30 A.M. - To consider and approve the issuance of 11,70,000
warrants convertible into equity shares on
preferential basis to Promoter Category
(b) Extraordinary General Meetings

During the year under review, two extra ordinary general meetings were conducted by the Company on May 21, 2022 and
March 13, 2023.
(c) Postal Ballot

During the year under review, no Postal Ballot was conducted by the Company for seeking the approvals of the Members.
6. Shareholders Communication
The Board recognizes the importance of two-way communication with shareholders and giving a balanced report of results
and progress and responding to questions and issues raised in a timely and consistent manner. The Company has its website
(www.moneyboxxfinance.com) that contains required information for the shareholders.

Means of Communication The Annual Listing Fees for the financial year 2022-23 to
Quarterly results and other relevant information:
1. BSE Limited (BSE) has been paid by the Company within
The quarterly/half-yearly/yearly results are intimated the prescribed time.
to the Stock Exchanges immediately after the Board
Meeting at which they are approved. The results of the c) Market Price data (In ` Per share)
Company are also published in at least one national
newspaper (usually Financial Express) and one regional The High and Low prices during each month in the
newspaper (usually Jansatta) having wide circulation. financial year 2022-23 at BSE are: -
2. Website: The Company`s website www. Month High Low

moneyboxxfinance.com contains a separate section
April 2022 136.3 113
‘Investor’ for use of investors. The quarterly, half yearly
and annual financial results and official news releases May 2022 135 113.1
are promptly and prominently displayed on the website.
June 2022 151.2 114
Annual Reports, Quarterly Corporate Governance
Reports, Shareholding Patterns, and other Corporate July 2022 218.9 134.9
Communications made to the Stock Exchanges are also
available on the website. August 2022 187.65 170
September 2022 191 163.6
3. ommunication through email: In support of the
C
“Green Initiative” undertaken by the Ministry of Corporate October 2022 182.85 158.1
Affairs, the Company had during 2022-23 sent various
communications including Documents like Notices and November 2022 186.9 157.15
Annual Report to the shareholders at their email address, December 2022 199 145.65
as registered with their Depository Participants/ Company/
Registrar & Transfer Agents (RTA). This helps in prompt January 2023 180.55 154.9
delivery of document, reduce paper Consumption, save
February 2023 183.95 145
trees, and avoid loss of documents in transit.
March 2023 183.85 125.25
Press Releases/Media Releases: The official press
4.
releases and media releases are disseminated to the
Stock Exchange as well as displayed on the Company’s d) Registrar and Share Transfer Agents
website at www.moneyboxxfinance.com
Address for Investor Correspondence
7. General Shareholers’ Information For any assistance regarding dematerialization of
shares, re-materialization of shares, share transfers,
a)
Company Registration Details: The Company is registered
transmissions, change of address, non-receipt of
in New Delhi, India. The Corporate Identification
Number (CIN) allotted by the Ministry of Corporate dividend or any other query relating to shares, please
Affairs is L30007DL1994PLC260191. The Company is write to:
Non- Systemically Important Non-Deposit taking NBFC,
registered with Reserve Bank of India and comes under MAS Services Limited
the base layer category as per new scale-based regulations T-34, 2nd Floor, Okhla Industrial Area, Phase-II, New
introduced by RBI on October 22, 2022. Delhi-110020
b) Ensuing Annual General Meeting Tel : 011-26387281/82/83;
Day and Date Monday, September 25, 2023 Fax : 011-26387284
Time 12:30 PM e-mail: [email protected]
Financial Year 2022-23 Web: https://www.masserv.com.
Book Closure Dates N.A.
Listing of Equity Shares BSE Limited- (Scrip code- e) Share Transfer System
at Stock Exchanges 538446) SEBI has mandated that, effective April 1, 2019, no
Venue The Company is conducting share can be transferred in physical mode. Hence, the
the meeting through VC /
Company has stopped accepting any fresh lodgment of
OAVM pursuant to the MCA.
transfer of shares in physical form. Shareholders holding
Circular dated December 28,
shares in physical form are advised to avail the facility of
2022 and May 5, 2020, and
dematerialization.The Company obtains from a Company
thus venue requirements are
Secretary in practice, yearly certificate of compliance
not applicable for this AGM.
with the share transfer formalities as required under
For other details please refer
Regulation 40(9) of the SEBI (Listing Obligations &
to the Notice of this AGM. Disclosure Requirements) Regulations, 2015 and files a
ISIN Number INE296Q01012 copy of the same with the Stock Exchanges.

01 CORPORATE
STATEMENT
f) Distribution of Shareholding as on March 31, 2023

Range of No. Shares From -to No. of % of No. of shares % of
shareholders shareholders held shareholding
Up to 5000 993 69.199 81034 0.346
` 5001 to 10000 102 7.108 78898 0.337
` 10001 to 20000 63 4.39 88908 0.38
` 20001 to 30000 38 2.648 94671 0.404
` 30001 to 40000 16 1.115 55506 0.237
` 40001 to 50000 20 1.394 90864 0.388
` 50001 to 100000 53 3.693 402025 1.718
` 100001 and above 150 10.453 22513443 96.189
Total 1435 100 23405349 100
g) Dematerialization of Shares: l) Transfer of unclaimed dividends due for remittance

As on March 31, 2023, 2,49,21,360 equity shares into Investor Education and Protection Fund (IEPF):
representing 99.99% of the Issued Share Capital of the No amount of unclaimed dividend is due for transfer to
Company were held in dematerialized form. The equity Investor Education and Protection Fund.
shares of the Company are traded at BSE.
m) Reconciliation of Share Capital Audit:
h)
Outstanding ADRs/GDRs/Warrants or any A quarterly audit was conducted by a Practising Company
convertible instruments, conversion date and likely Secretary, reconciling the issued and listed capital of the
impact on equity: Company with the aggregate of the number of shares
held by investors in physical form and in the depositories
The Company has issued 11,70,000 Convertible
and the said certificates were submitted to the Stock
warrants to Promoter Category on September 30, 2022,
Exchanges within the prescribed time limit.
at an issue price of ` 115 per warrant, convertible at
the option of warrant holder, in one or more tranches, n) Information to Shareholders:
within eighteen (18) months from the date allotment A brief resume of the Directors appointed/reappointed
into equivalent number of fully paid-up equity shares of together with the nature of their experience and details
face value of ` 10.The said convertible warrants have not of the other Directorships held by them is annexed to
been converted into equity shares as on the date of this the Notice convening the Annual General Meeting.
report, hence they form a part of diluted equity share
capital only. o) Any query on Annual Report:
Members can write an email on info@

i) Commodity price risk or foreign exchange risk and moneyboxxfinance.com in case of any query
hedging activities regarding the annual report.
The Company is not exposed to commodity price risk
and foreign exchange risk and does not have any hedging 8. Other Disclosures
activities. Related Party Transactions
The Company has not entered into any materially significant
j) Plant locations transactions with the related parties that may have potential
The Company is in the business of Non- Banking Finance conflict with the interests of the Company at large. Related
Company; hence no plant information can be provided. party transactions have been disclosed under significant
accounting policies and notes forming part of the Financial
k) Address for correspondence: Statements. A statement in summary form of transactions
with Related Parties in ordinary course of business and arm’s
Corporate office Address: First India Place, 2nd Floor

length basis is periodically placed before the Audit committee/
Sushant Lok-1 MG Road, Gurgaon-122001. Haryana
Board for review and recommendation to the Board for their
Head Office Address: 411-A, Kanakia Wallstreet,
approval.
Chakala, Andheri Kurla Road, Andheri (East),
Mumbai-400093 None of the transactions with Related Parties were in conflict
with the interest of the Company. All the transactions are on
Registered Office Address: 523-A, Somdutt Chamber an arm’s length basis and have no potential conflict with the
– II, 9, Bhikaji Cama Place, New Delhi – 110066 interest of the Company at large and are carried out on an
Tel: 011- 45657452 arm’s length or fair value basis.

The disclosure of all related party transactions are mentioned Material Subsidiaries:
in Note No. 31 forming part of notes to the accounts of the The Company does not have any material subsidiaries
Financial Statements. during the year under review.
The Audit Committee and the Board of Directors of the Status of Investor Complaints
Company have formulated the Policy on dealing with RPTs Status of Investor Complaints as on March 31,2023
which can be accessed at the Company’s website through the as reported under Regulation 13(3) of the Listing
following link http://www.moneyboxxfinance.com. Regulations is as under:
Complaints pending as on April 1, 2022 0
Details of non-compliance
Received during the year 2
During the last three years, except stated below in the Financial Resolved during the year 2
Year 2020-21, there have been no penalties or strictures Pending as on March 31, 2023 0
imposed on the Company by the Stock Exchanges or SEBI or
any Statutory Authorities relating to capital market and listing: Code of Conduct for Prevention of Insider Trading
Your Company has adopted a “Code of Internal
BSE vide its e-mail dated January 18, 2021, has imposed a fine of procedure and conduct for regulating, monitoring
` 2,71,400/- delay in filing of disclosure of Related Party Transaction and reporting of trading in securities by Insiders” as
under Regulation 23 of the Securities and Exchange Board of India required under Securities and Exchange Board of India
(Listing Obligations and Disclosure Requirements) Regulations, 2015 (Prohibition of Insider Trading) Regulations, 2015. The
for half year ended on September 30, 2020. Company had paid Company formulated a Code of Conduct to Regulate,
the same on February 01, 2021. Conversely, the stock exchange Monitor, and Report trading by Insiders to deter the
Insider trading in the securities of the Company based
(Bombay Stock Exchange) vide email dated July 20, 2021, has waived
on the unpublished price sensitive information (UPSI).
of the fine levied pursuant to SEBI Circular SEBI/HO/CFD/CMD/
CIR/P/2020/12 dated January 22, 2020. (Erstwhile SEBI circular The Code duly envisages procedures to be followed and
SEBI/HO/CFD/CMD/CIR/P/2018/77 dated May 03, 2018.) under disclosures to be made while dealing in the securities of
Standard Operating Procedure (SOP)” and informed the Company the Company. During the year under review there has
that if the Company has already paid the fine amount than the same been due compliance with Securities and Exchange Board
amount will be adjusted towards ALF (Annual Listing Fees) / other of India (Prohibition of Insider Trading) Regulations, 2015.
pending charges / fees payable to the stock exchange, if any. The Code is also available at the website of the Company.
Whistleblower Policy and Vigil Mechanism Accounting treatment in preparation of Financial

Pursuant to Section 177(9) and (10) of the Companies Act, Statements
2013, and Regulation 22 of the Listing Regulations, the Company The Financial Statements of the Company has been duly
has formulated Whistle Blower Policy for vigil mechanism of prepared pursuant to the Indian Accounting Standards
Directors and employees to report to the management about (‘Ind AS’) as per the Companies (Indian Accounting
Standards) Rules, 2015 notified under Section 133 and
the unethical behavior, fraud or violation of Company’s code
other relevant provisions of the Act.
of conduct. The Company promotes ethical behavior in its
operations and has a Whistle Blower Policy which is overseen
Details of utilization of funds raised
by the Audit Committee. Under the Whistle Blower Policy,
As specified in Regulation 32(7A) of SEBI (LODR)
employees and stakeholders are free to report violations of
Regulations, 2015, during the year under review, the
applicable laws and regulations and the Code of Conduct.
Company has raised funds through preferential basis
two times dated June 02, 2022 and March 31, 2023. As
The Whistle Blower Policy can be accessed at the
on March 31, 2023, the funds raised on June 02, 2022,
Company’s website through the following link http://www. were fully utilized by the Company in accordance with
moneyboxxfinance.com the objects stated in the explanatory statement annexed
with the notice and the funds raised on March 31, 2023,
Details of compliance with mandatory requirements and have not been utilized as they were raised on the last
adoption of non-mandatory (discretionary) requirements date of the Financial Year.
The Company has duly complied with the mandatory Certification from Company Secretary in Practice
requirements on Corporate Governance under the Certificate from M/s Shashank Pashine & Associates,
SEBI (Listing Obligations and Disclosure Requirements) Practicing Company Secretaries, to the effect that none
Regulations, 2015. However, the Company has not adopted of the directors on the Board of the Company has
any of the non-mandatory requirements stipulated under the been debarred or disqualified from being appointed or
said enactment. continuing as directors of the Company by the MCA or

01 CORPORATE
STATEMENT
any other statutory authority has been duly received by 9.

Compliance with the Mandatory Requirements
the Company. This certificate forms part of this Annual of the Listing Regulations
Report. (Refer Annexure B to this Report) The compliance of all applicable laws in the Company is reviewed
by the Board of Directors on a periodic basis. The Company
Acceptance of recommendation of all Committees has complied with all the mandatory requirements of the Code
During the year under review, there have been no of Corporate Governance as specified in Regulations 17 to 27
such instances where the recommendations of any and clauses (b) to (i) of sub regulation (2) of Regulation 46 of
Committees were not accepted by the Board in terms the Listing Regulations. A certificate affirming the compliances
of the SEBI Listing Regulations. from Shashank Pashine & Associates, Practicing Company
Secretaries has been duly attained by the Company and the
Statutory Auditor Fees same is attached to this Report as Annexure - A.
The details of the total fees for all services paid by the
Company during FY 2022-23, to the Statutory Auditors 10. Non-Mandatory Disclosures
are as follows: The Board
Particulars Amount Chairman’s office has been made available for the non–
(in lakh) executive Chairman and he is allowed reimbursement of
Payment to Statutory Audit fees ` 1,00,000 expenses incurred in performance of his duties.
Certification fees ` 5,20,000
Modified opinion(s) in audit report
Non-compliance of any requirement of corporate There are no modified opinions in the audit report.
governance report of sub-paras (2) to (10) of
Schedule V(c) of the Listing Regulations – NIL Reporting of Internal Auditor
In pursuance with Section 138 of the Companies Act, 2013,
Disclosure with respect to demat suspense

an Internal Auditor has been duly appointed by the Company
account /unclaimed suspense account – Nil
who reports to the Audit Committee. Internal audit reports
are submitted to the Audit Committee which reviews the
Prevention, Prohibition and Redressal of Sexual
audit reports and suggests necessary action.
Harassment of Women at the Workplace
The Company has in place a Policy for Prevention,

11. CEO and CFO Certification
Prohibition and Redressal of Sexual Harassment at The certification by CEO and CFO is duly provided in this
Workplace. Appropriate reporting mechanisms are in Annual Report in terms of the requirements of SEBI Listing
place for ensuring protection against Sexual Harassment Regulations. (Refer Annexure C to this Report)
and the right to work with dignity. During the year under
review, the Company has not received any complaint in By order and on behalf of the Board
this regard. Moneyboxx Finance Limited
Status of Complaints under the sexual harassment of Sd/-Sd/-

women at Workplace (prevention, prohibition and (Mayur Modi) (Deepak Aggarwal)
redressal) Act, 2013 during the Financial Year 2022-23 is Co- CEO & Whole-time Co- CEO & Whole-time
detailed below: DirectorDirector
DIN: 08021679 DIN: 03140334
Complaints pending at the beginning 0
of Financial Year
Date: August 11, 2023
Received during the year 0
Resolved during the year 0
Pending at the end of Financial Year 0

ANNEXURE- A
CERTIFICATE REGARDING COMPLIANCE OF CONDITIONS OF CORPORATE GOVERNANCE
{Certificate on Compliance with the Corporate Governance Requirements under SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015}
To, 5.
I have examined the relevant records and documents
The Members, maintained by the Company for the purposes of providing
MONEYBOXX FINANCE LIMITED reasonable assurance on the compliance with Corporate
523-A, Somdutt Chamber-II 9, Governance requirements by the Company.
Bhikaji Cama Place,
New Delhi-110066, Opinion
India 6. Based on my examination of the relevant records and
according to the information and explanations provided to
1. I have examined the compliance of conditions of Corporate me and the representations provided by the management, I
Governance by Moneyboxx Finance Limited (“the certify that the Company has complied with the conditions of
Company”) for the year ended on March 31, 2023, as Corporate Governance as stipulated in regulations 17 to 27
stipulated in regulations 17 to 27 and clauses (b) to (i) of and clauses (b) to (i) of regulation 46(2) and paragraph C, D
regulation 46(2) and paragraph C, D and E of Schedule V to and E of Schedule V to the Listing Regulations during the year
the Securities and Exchange Board of India (Listing Obligations ended March 31, 2023, except as reported by the Secretarial
and Disclosure Requirements) Regulations, 2015 (“Listing Auditor in his respective report, if any.
Regulations”) pursuant to the Listing Agreement of the
Company with the Stock Exchanges. 7. I state that such compliance is neither an assurance as to
the future viability of the Company nor the efficiency or
Management’s Responsibility effectiveness with which the Management has conducted the
2. The compliance of conditions of Corporate Governance as affairs of the Company.
stipulated under the listing regulations is the responsibility
of the Company’s Management including the preparation Restriction on use
and maintenance of all the relevant records and documents. 8. The certificate is addressed and provided to the members of
This responsibility includes the design, implementation and the Company solely for the purpose of enabling the Company
maintenance of internal control and procedures to ensure to comply with the requirement of the Listing Regulations
compliance with the conditions of the Corporate Governance and should not be used by any other person or for any other
stipulated in the Listing Regulations. purpose.Accordingly, I do not accept or assume any liability or
any duty of care for any other purpose or to any other person
Auditors’ Responsibility to whom this certificate is shown or into whose hands it may
3. My responsibility is limited to examining the procedures and come without our prior consent in writing.
implementation thereof adopted by the Company for ensuring
compliance with the conditions of the Corporate Governance. Sd/-
It is neither an audit nor an expression of opinion on the CS Ritu
financial statements of the Company. Practising Company Secretary
Membership No: A51819
4. Pursuant to the requirements of the Listing Regulations, it is Peer Review Cert. No.: 1145/2021
my responsibility to provide a reasonable assurance whether Date: August 07, 2023 CP. No: 21003
the Company has complied with the conditions of Corporate Place: New Delhi UDIN No. A051819E000751474
Governance as stipulated in the Listing Regulations for the
year ended March 31, 2023.

01 CORPORATE
STATEMENT
ANNEXURE B
CERTIFICATE OF NON-DISQUALIFICATION OF DIRECTORS
(Pursuant to Regulation 34(3) and Schedule V Para C clause (10)(i) of the SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015)
To,
The Members,
Bhikaji Cama Place
New Delhi-110066,
India
I have examined the relevant registers, records, forms, returns and disclosures received from the Directors of Moneyboxx Finance
Limited having CIN L30007DL1994PLC260191 and having registered office at 523-A, Somdutt Chamber-II 9, Bhikhaji Cama
Place New Delhi- 110066, India, (hereinafter referred to as “the Company”), produced before me by the Company for the purpose
of issuing this Certificate, in accordance with Regulation 34(3) read with Schedule V Para-C Sub clause 10(i) of the Securities Exchange
Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
In my opinion and to the best of my information and according to the verifications (including Directors Identification Number (DIN) status
at the portal www.mca.gov.in) as considered necessary and explanations furnished to me by the Company & its officers, I hereby certify
that none of the Directors on the Board of the Company as stated below for the Financial Year ending on March 31, 2023, have been
debarred or disqualified from being appointed or continuing as Directors of companies by the Securities and Exchange Board of India,
Ministry of Corporate Affairs or any such other Statutory Authority.
Sl. No. Name of Director(s) DIN No. Date of Appointment in Company
1. Mr. Govind Gupta 00065603 12/10/2018
2. Mr. Deepak Aggarwal 03140334 12/10/2018
3. Mr. Uma Shankar Paliwal 06907963 11/01/2019
4. Mr. Atul Garg 07093376 15/09/2020
5. Ms. Ratna Dharashree Vishwanathan 07278291 11/01/2019
6. Mr. Mayur Modi 08021679 12/10/2018
Ensuring the eligibility of for the appointment / continuity of every Director on the Board is the responsibility of the management of the
Company. Our responsibility is to express an opinion on these based on our verification. This certificate is neither an assurance as to the
future viability of the Company nor of the efficiency or effectiveness with which the management has conducted the affairs of the Company.
Sd/-
CS Ritu
Practising Company Secretary
Membership No: A51819
Peer Review Cert. No.: 1145/2021
Date: August 07, 2023 CP. No: 21003
Place: New Delhi UDIN No. A051819E000751430

ANNEXURE C
CEO AND CFO CERTIFICATE
Declaration by chairman cum managing director under schedule V of SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015
We, Deepak Aggarwal, Chief Financial officer and Co-Chief Executive Officer and Mayor Modi, Co- Chief Executive Officer of Moneyboxx
Finance Limited hereby confirm that all Board Members and Senior Management Personnel have affirmed compliance with the Code of
Conduct for Board of Directors and Senior Management Personnel, as approved by the Board, for the financial year ended on March 31, 2023.
Sd/-Sd/-
Mayur Modi Deepak Aggarwal
Co- CEO & Whole-time Director Co-CEO & Chief Financial Officer
Date: May 25, 2023


01 CORPORATE
STATEMENT
CEO/CFO CERTIFICATION
To,
The Board of Directors
MoneyBoxx Finance Limited,
523-A Somdutt Chambers-II
9 Bhikaji Cama Place
New Delhi
Sub: Certificate under Regulation 17 (8) and Schedule II of the SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015;
We, the undersigned, certify to the Board that:
(a) We have reviewed financial statements and the cash flow statement for the year ended on March 31, 2023 and that to the best of our
knowledge and belief:
(i) These statements do not contain any materially untrue statement or omit any material fact or contain statements that might be
misleading;
(ii) These statements together present a true and fair view of the Company’s affairs and are in compliance with existing accounting
standards, applicable laws, and regulations.
(b) There are, to the best of our knowledge and belief, no transactions entered into by the Company during the year which are fraudulent,
illegal, or violative of the Company’s code of conduct.
(c) We accept responsibility for establishing and maintaining internal controls for financial reporting and that we have evaluated the
effectiveness of the internal control systems of the Company pertaining to financial reporting and we have disclosed to the auditors
and the Audit Committee deficiencies in the design and operations of such internal controls, if any, of which they are aware and the
steps we have taken or propose to take to rectify these deficiencies.
(d) We have indicated to the auditors and the Audit Committee:

(i) significant changes in internal control over financial reporting during the year,
(ii) significant changes in accounting policies during the year and that the same have been disclosed in the notes to the financial
statement and
(iii) Instances of significant fraud of which we have become aware and the involvement therein, if any, of the management or an
employee having a significant role in the Company’s internal control system over financial reporting.
Sd/- Sd/-
Mayur Modi Deepak Aggarwal
Co- CEO & Whole-time Director Co-CEO & Chief Financial Officer
Date: May 18, 2023


Independent Auditors' Report
TO, In connection with our audit of the financial statements, our

THE MEMBERS OF MONEYBOXX FINANCE LIMITED responsibility is to read the other information and, in doing so,
consider whether the other information is materially inconsistent
Report on the Audit of Financial Statements with the financial statements or our knowledge obtained during the
Opinion course of our audit or otherwise appears to be materially misstated.
We have audited the accompanying financial statements of
MONEYBOXX FINANCE LIMITED (the “Company”), which If, based on the work we have performed, we conclude that there is
comprise the Balance Sheet as at March 31, 2023, the Statement a material misstatement of this other information, we are required
of Profit and Loss (including Other Comprehensive Income), the to report that fact. We have nothing to report in this regard.
Statement of Changes in Equity and the Statement of Cash Flows for
the year ended on that date, and a summary of significant accounting Responsibility of Management and Those Charged
policies and other explanatory information (hereinafter referred to with Governance (TCWG)
as the “financial statements”). The Company’s Board of Directors is responsible for the matters
stated in Section 134(5) of the Companies Act, 2013 (“the Act”) with
In our opinion and to the best of our information and according to respect to the preparation of these financial statements that give a
the explanations given to us, the aforesaid financial statements give true and fair view of the financial position , financial performance,
the information required by the Companies Act, 2013 (the “Act”) in including other comprehensive income, change in equity and cash
the manner so required and give a true and fair view in conformity
flows of the Company in accordance with the accounting principles
with the Indian Accounting Standards prescribed under section 133
generally accepted in India, including the Accounting Standards
of the Act read with the Companies (Indian Accounting Standards)
specified under Section 133 of the Act, read with Rule 7 of the
Rules, 2015, as amended, (“Ind AS”) and other accounting principles
Companies (Accounts) Rules, 2014.This responsibility also includes
generally accepted in India, of the state of affairs of the Company as
maintenance of adequate accounting records in accordance with the
at March 31, 2023, the loss and total comprehensive loss, changes in
provisions of the Act for safeguarding of the assets of the Company
equity and its cash flows for the year ended on that date.
and for preventing and detecting frauds and other irregularities;
selection and application of appropriate accounting policies;
Basis for Opinion
making judgments and estimates that are reasonable and prudent;
We conducted our audit of the financial statements in accordance
and design, implementation and maintenance of adequate internal
with the Standards on Auditing (“SA”s) specified under section
financial controls, that were operating effectively for ensuring the
143(10) of the Act. Our responsibilities under those Standards are
accuracy and completeness of the accounting records, relevant to
further described in the Auditor’s Responsibilities for the Audit of
the preparation and presentation of the financial statements that
the Financial Statements section of our report.We are independent
give a true and fair view and are free from material misstatement,
of the Company in accordance with the Code of Ethics issued by
whether due to fraud or error.
the Institute of Chartered Accountants of India (“ICAI”) together
with the ethical requirements that are relevant to our audit of
In preparing the financial statements, management is responsible
the financial statements under the provisions of the Act and the
for assessing the Company’s ability to continue as a going concern,
Rules made thereunder, and we have fulfilled our other ethical
disclosing, as applicable, matters related to going concern and using
responsibilities in accordance with these requirements and the
the going concern basis of accounting unless management either
ICAI’s Code of Ethics. We believe that the audit evidence obtained
intends to liquidate the Company or to cease operations, or has
by us is sufficient and appropriate to provide a basis for our audit
opinion on the financial statements. no realistic alternative but to do so.
Information Other than the Financial Statements The Board of Directors are also responsible for overseeing the
and Auditor’s Report Thereon Company’s financial reporting process.
The Company’s Board of Directors is responsible for the preparation
of the other information. The other information comprises the
Auditor’s Responsibility
information included in the Management Discussion and Analysis, Our objectives are to obtain reasonable assurance about whether the
Board’s Report including Annexures to Board’s Report, Business financial statements as a whole are free from material misstatement,
Responsibility & Sustainability Report, Corporate Governance whether due to fraud or error, and to issue an auditor’s report
and Shareholder’s Information, but does not include the financial that includes our opinion. Reasonable assurance is a high level
statements and our auditor’s report thereon. of assurance, but is not a guarantee that an audit conducted in
Our opinion on the financial statements does not cover the accordance with SAs will always detect a material misstatement
other information and we do not express any form of assurance when it exists. Misstatements can arise from fraud or error and are
conclusion thereon. considered material if, individually or in the aggregate, they could

01 CORPORATE
STATEMENT
reasonably be expected to influence the economic decisions of and significant audit findings, including any significant deficiencies in
users taken on the basis of these financial statements. internal control that we identify during our audit.
As part of an audit in accordance with SAs, we exercise professional We also provide those charged with governance with a statement
judgement and maintain professional skepticism throughout the that we have complied with relevant ethical requirements regarding
audit. We also: independence, and to communicate with them all relationships and
other matters that may reasonably be thought to bear on our
• Identify and assess the risks of material misstatement of the independence, and where applicable, related safeguards.
Financial Statements, whether due to fraud or error, design
and perform audit procedures responsive to those risks, Report on Other Legal and Regulatory Requirements
and obtain audit evidence that is sufficient and appropriate 1. As required by Section 143 (3) of the Act, we report
to provide a basis for our opinion. The risk of not detecting that:
a material misstatement resulting from fraud is higher than
(a) We have sought and obtained all the information and
for one resulting from error, as fraud may involve collusion,
explanations which to the best of our knowledge and
forgery, intentional omissions, misrepresentations, or the
override of internal control. belief were necessary for the purposes of our audit.
• Obtain an understanding of internal financial controls relevant (b) In our opinion, proper books of account as required by
to the audit in order to design audit procedures that are law have been kept by the Company so far as it appears
appropriate in the circumstances. Under section 143(3)(i) of from our examination of those books.
the Act, we are also responsible for expressing our opinion
(c) The Balance Sheet, the Statement of Profit and Loss
on whether the company has adequate internal financial
controls with reference to financial statement in place and including Other Comprehensive Income, Statement of
the operating effectiveness of such controls. Changes in Equity and the Statement of Cash Flows dealt
with by this Report are in agreement with the relevant
• Evaluate the appropriateness of accounting policies used books of account.
and the reasonableness of accounting estimates and related
disclosures made by the Board of Directors. (d) In our opinion, the aforesaid financial statements comply
with the Ind AS specified under Section 133 of the Act.
• Conclude on the appropriateness of the Board of Directors’
use of the going concern basis of accounting and, based on (e) On the basis of the written representations received
the audit evidence obtained, whether a material uncertainty from the directors as on 31/03/2023 taken on record
exists related to events or conditions that may cast significant by the Board of Directors, none of the directors is
doubt on the ability of the Company to continue as a going disqualified as on 31/03/2023 from being appointed as a
concern. If we conclude that a material uncertainty exists, director in terms of Section 164 (2) of the Act.
we are required to draw attention in our auditor’s report
to the related disclosures in the Financial Statement or, if (f) With respect to the adequacy of the internal financial
such disclosures are inadequate, to modify our opinion. Our controls over financial reporting of the Company and
conclusions are based on the audit evidence obtained up to the operating effectiveness of such controls, refer to our
the date of our auditor’s report. However, future events or separate Report in “Annexure A”. Our report expresses
conditions may cause the Company to cease to continue as a an unmodified opinion on the adequacy and operating
going concern. effectiveness of the Company’s internal financial controls
over financial reporting.
• Evaluate the overall presentation, structure and content of the
Financial Statements, including the disclosures, and whether (g) With respect to the other matters to be included in the
the Financial Statements represent the underlying transactions Auditor’s Report in accordance with the requirements
and events in a manner that achieves fair presentation. of section 197(16) of the Act, as amended:
Materiality is the magnitude of misstatements in the financial In our opinion and to the best of our information
statements that, individually or in aggregate, makes it probable that and according to the explanations given to us, the
the economic decisions of a reasonably knowledgeable user of the remuneration paid by the Company to its directors
financial statements may be influenced. We consider quantitative during the year is in accordance with the provisions of
materiality and qualitative factors in (i) planning the scope of section 197 of the Act.
our audit work and in evaluating the results of our work; and
(ii) to evaluate the effect of any identified misstatements in the (h) With respect to the other matters to be included in
financial statements. the Auditor’s Report in accordance with Rule 11 of the
Companies (Audit and Auditors) Rules, 2014, in our
We communicate with those charged with governance regarding, opinion and to the best of our information and according
among other matters, the planned scope and timing of the audit to the explanations given to us:

i. The Company has disclosed the impact of by or on behalf of the Funding Party (“Ultimate
pending litigations on its financial position in its Beneficiaries”) or provide any guarantee, security or
financial statements. the like on behalf of the Ultimate Beneficiaries; and
ii. The Company has made provision, as required

(c) Based on our audit procedures we considered these
under the applicable law or applicable accounting
standards, for material foreseeable losses, if any, on reasonable and appropriate in the circumstances
long-term contracts including derivative contracts. and nothing has come to our notice that has
caused us to believe that the representations under
iii. There has been no delay in transferring amounts, sub-clause (a) and (b) contain any material mis-
required to be transferred, to the Investor statement.
Education and Protection Fund by the Company.
v. The dividend declared or paid during the year by the
iv.(a) The management has represented that, to the
best of it’s knowledge and belief, other than as company is in compliance with section 123 of the
disclosed in the notes to the accounts, no funds Companies Act, 2013.
have been advanced or loaned or invested (either
from borrowed funds or share premium or any 2. As required by the Companies (Auditor’s Report) Order,
other sources or kind of funds) by the company to 2020 (“the Order”) issued by the Central Government in
or in any other person or entity, including foreign terms of Section 143(11) of the Act, we give in “Annexure B”
entities (“Intermediaries”), with the understanding,
a statement on the matters specified in paragraphs 3 and 4 of
whether recorded in writing or otherwise, that the
the Order.
Intermediary shall, whether, directly or indirectly
lend or invest in other persons or entities identified
in any manner whatsoever by or on behalf of the
company (“Ultimate Beneficiaries”) or provide
any guarantee, security or the like on behalf of the For GAUR & ASSOCIATES
Ultimate Beneficiaries; Chartered Accountants
FRN: 005354C
(b) The management has represented, that, to the best
of it’s knowledge and belief, other than as disclosed
in the notes to the accounts, no funds have been
received by the company from any person or entity, Sd/-
including foreign entities (“Funding Parties”), with
S. K. Gupta
the understanding, whether recorded in writing or
otherwise, that the company shall, whether, directly Partner
or indirectly, lend or invest in other persons or M. No. 016746 Place: New Delhi
entities identified in any manner whatsoever UDIN: 23016746BGRWHE9866 Date: 25/05/2023

01 CORPORATE
STATEMENT
“Annexure A” to the Independent Auditor’s Report

(Referred to in paragraph 1(f) under ‘Report on Other Legal and Regulatory Requirements’ section of our report to the
Members of MONEYBOXX FINANCE LIMITED of even date)
Report on the Internal Financial Controls under Meaning of Internal Financial Controls over
Clause (i) of Sub-section 3 of Section 143 of the Financial Reporting
Companies Act, 2013.
We have audited the internal financial controls over financial A company's internal financial control over financial reporting is
statements of MONEYBOXX FINANCE LIMITED as of March 31, a process designed to provide reasonable assurance regarding the
2023 in conjunction with our audit of the financial statements of reliability of financial reporting and the preparation of financial
the Company for the year ended on that date. statements for external purposes in accordance with generally
accepted accounting principles. A company's internal financial
Management’s Responsibility for Internal Financial control over financial reporting includes those policies and
Controls procedures that (1) pertain to the maintenance of records that,
in reasonable detail, accurately and fairly reflect the transactions
The Company’s management is responsible for establishing
and dispositions of the assets of the company; (2) provide
and maintaining internal financial controls based on the internal
reasonable assurance that transactions are recorded as necessary
control over financial reporting criteria established by the Company
to permit preparation of financial statements in accordance with
considering the essential components of internal control stated in
generally accepted accounting principles, and that receipts and
the Guidance Note on Audit of Internal Financial Controls over
expenditures of the company are being made only in accordance
Financial Reporting issued by the Institute of Chartered Accountants
with authorizations of management and directors of the company;
of India. These responsibilities include the design, implementation
and (3) provide reasonable assurance regarding prevention or
and maintenance of adequate internal financial controls that were
timely detection of unauthorized acquisition, use, or disposition
operating effectively for ensuring the orderly and efficient conduct
of the company's assets that could have a material effect on the
of its business, including adherence to company’s policies, the
safeguarding of its assets, the prevention and detection of frauds and financial statements.
errors, the accuracy and completeness of the accounting records,
and the timely preparation of reliable financial information, as
Inherent Limitations of Internal Financial Controls
required under the Companies Act, 2013.
Over Financial Reporting
Because of the inherent limitations of internal financial controls over
Auditors’ Responsibility financial reporting, including the possibility of collusion or improper
Our responsibility is to express an opinion on the Company's management override of controls, material misstatements due to
internal financial controls over financial reporting based on our audit. error or fraud may occur and not be detected. Also, projections
We conducted our audit in accordance with the Guidance Note on of any evaluation of the internal financial controls over financial
Audit of Internal Financial Controls Over Financial Reporting (the reporting to future periods are subject to the risk that the internal
“Guidance Note”) and the Standards on Auditing, issued by ICAI and financial control over financial reporting may become inadequate
deemed to be prescribed under section 143(10) of the Companies because of changes in conditions, or that the degree of compliance
Act, 2013, to the extent applicable to an audit of internal financial with the policies or procedures may deteriorate.
controls, both applicable to an audit of Internal Financial Controls
and, both issued by the Institute of Chartered Accountants of India. Opinion
Those Standards and the Guidance Note require that we comply In our opinion, the Company has, in all material respects, an
with ethical requirements and plan and perform the audit to obtain adequate internal financial controls system over financial reporting
reasonable assurance about whether adequate internal financial and such internal financial controls over financial reporting
controls over financial reporting was established and maintained were operating effectively as at March 31, 2023, based on the
and if such controls operated effectively in all material respects. internal control over financial reporting criteria established by
the Company considering the essential components of internal
Our audit involves performing procedures to obtain audit evidence control stated in the Guidance Note on Audit of Internal Financial
about the adequacy of the internal financial control system over Controls over Financial Reporting issued by the Institute of
financial reporting and their operating effectiveness. Our audit of Chartered Accountants of India.
internal financial controls over financial reporting, assessing the
risk that a material weakness exists, and testing and evaluating For GAUR & ASSOCIATES
the design and operating effectiveness of internal control based Chartered Accountants
on the assessed risk. The procedures selected depend upon on FRN: 005354C
the auditor's judgment, including the assessment of the risks of
material misstatement of the financial statements, whether due to
fraud or error. Sd/-
S. K. Gupta
We believe that the audit evidence we have obtained is sufficient Partner
and appropriate to provide a basis for our audit opinion on the M. No. 016746 Place: New Delhi
Company’s internal financial controls system over financial reporting. UDIN: 23016746BGRWHE9866 Date: 25/05/2023

“Annexure B” to the Independent Auditor’s Report
(Referred to in paragraph 2 under ‘Report on Other Legal and Regulatory Requirements’ section of our report to the
Members of Moneyboxx Finance Limited of even date
i. In respect of the Company’s property, plant and equipment, right stipulated and the repayments or receipts are regular except
of use assets and intangible assets: some loans.
a) A. The Company has maintained proper records showing d) Based on our scrutiny of the company's records and
full particulars, including quantitative details and situation of according to the information and explanations provided by
Property, Plant and Equipment and relevant details of right the management, the total amount overdue for more than
of use assets. ninety days is ` 199.53 lakh and also the company has taken
B. The Company has maintained proper records showing full reasonable steps for recovery of the principal and interest.
particulars of Intangible Assets. e) As the principal business of company is to give loans &
b) The Company has a program of verification to cover all the advances. Therefore, reporting under clause 3(iii)(e) of the
items of Property, Plant and Equipment in a phased manner Order is not applicable to the Company.
which, in our opinion, is reasonable having regard to the f) The Company has not granted any loans or advances in
size of the Company and the nature of its assets. Pursuant the nature of loans either repayable on demand or without
to the program, certain Property, Plant and Equipment specifying any terms or period of repayment.
were physically verified by the management during the year.
iv. In our opinion and according to the information and explanations
According to the information and explanations given to us,
given to us, the Company has complied with the provisions of
no material discrepancies were noticed on such verification.
Sections 185 and 186 of the Act in respect of grant of loans,
c) According to the information and explanations received making investments and providing guarantees and securities,
by us, as the company owns no immovable properties, as applicable.
the requirement on reporting whether title deeds of
immovable properties held in the name of the company is v. Based on our scrutiny of the company's records and according to
not applicable. In respect of immovable properties of land the information and explanations provided by the management, in
and building that have been taken on lease and disclosed our opinion, the company has not accepted any loans or deposits
in the financial statements, the lease agreements are in the which are deemed to be 'deposits' within the meaning of Rule
name of the Company. 2(b) of the Companies (Acceptance of Deposits) Rules, 2014 and
therefore, the provisions of the clause 3(v) of the Order are not
d) The company has not revalued its Property, Plant and
applicable to the Company.
Equipment (including Right of Use assets) or intangible
assets during the year. vi. According to the information and explanations provided by the
e) No proceedings have been initiated during the year or are management, the company is not engaged in production of any
pending against the Company as at March 31, 2023 for such goods or provision of any such services for which the Central
holding any benami property under the Benami Transactions Government has prescribed particulars relating to utilisation of
(Prohibition) Act, 1988 (as amended in 2016) and rules material or labour or other items of cost. Hence, the provisions of
made thereunder. section 148(1) of the Act do not apply to the company. Hence, in
our opinion, no comment on maintenance of cost records under
ii. (a) The Company is in the business of providing loans and does section 148(1) of the Act is required.
not have any physical inventories. Accordingly, reporting
under clause 3(ii)(a) of the Order is not applicable to the vii. According to the information and explanations given to us, in
Company. respect of statutory dues:
a) The Company has generally been regular in depositing
(b) he Company has not been sanctioned working capital limits in
T
undisputed statutory dues, including Goods and Services
excess of ` 5 crore, in aggregate, at any points of time during the
Tax, Provident Fund, Employees’ State Insurance, Income
year, from banks or financial institutions on the basis of security
Tax, Sales Tax, Service Tax, Customs Duty, Excise Duty,
of current assets and hence reporting under clause 3(ii)(b) of the
Professional Tax,Value Added Tax, Cess and other statutory
Order is not applicable.
dues applicable to it with the appropriate authorities.
iii. As the principal business of company is to give loans & advances, b) There were no undisputed amounts payable in respect of
so definitely during the year company has granted loans or Provident Fund, Employees’ State Insurance, Income Tax,
advances to various parties that are in the nature of unsecured Goods and Service Tax, Customs Duty, Professional Tax,
loans and also company has made investments too. Cess and other material statutory dues in arrears as at
a) As the principal business of company is to give loans & March 31, 2023 for a period of more than six months from
advances. Therefore, reporting under clause 3(iii)(a) of the the date they became payable.
Order is not applicable to the Company. c) According to the records of the company, there are no
b) Based on our audit procedures and according to the dues of sales tax/income-tax/value added tax/customs
information and explanations provided by the management, duty/excise duty/cess which have not been deposited on
in our opinion, the investments made, guarantees provided, account of any dispute.
security given and the terms and conditions of the grant of
viii. There were no transactions relating to previously unrecorded
all loans and advances in the nature of loans and guarantees
income that have been surrendered or disclosed as income during
provided are not prejudicial to the company’s interest.
the year in the tax assessments under the Income Tax Act, 1961.
c) Based on our scrutiny of the company's records and
according to the information and explanations provided by ix. In respect to repayment and usage of borrowings:
the management, we are of the opinion that in respect of a) Based on our audit procedures and on the information
loans and advances in the nature of loans, the schedule of and explanations given by the management, we are of the
repayment of principal and payment of interest has been opinion that the company has not defaulted in repayment of

01 CORPORATE
STATEMENT
loans or borrowing or in the payment of interest thereon to xvi. In relation to Reporting on Registration u/s 45-IA of RBI Act:
any lender, financial institution, bank, government or dues to
a) The company is a Non-Banking Financial Company and is
debenture- holders.
required to be registered under section 45-I of the Reserve
b) The company has not declared as willful defaulter by any Bank of India. The company has obtained the registration
bank or financial institution or other lender. vide certificate of registration no. B-14.03301 dated 13th
March 2019.
c) Based upon the audit procedures performed, we are of the
opinion that the company has applied term loans for the
purpose for which the loans were obtained. b) As the company has obtained the registration on 13th March
2019 (as referred in clause (a)), so there is no question
d) On an overall examination of the financial statements of the that during the year company would conduct any Non-
Company, funds raised on short-term basis have, prima facie, Banking Financial or Housing Finance activities without a
not been used during the year for long-term purposes by valid Certificate of Registration (CoR) from the Reserve
the Company. Bank of India as per the Reserve Bank of India Act, 1934.
e) As the company does not have any subsidiary, associate or
joint venture.Accordingly, reporting under clause 3(ix)(e) of c) In our opinion and according to the information and
the Order is not applicable to the Company. explanations given to us, the company is not a Core
Investment Company (CIC) as defined in the regulations
f) As the company does not have any subsidiary, associate or made by the Reserve Bank of India,
joint venture. Accordingly, reporting under clause 3(ix)(f) of
the Order is not applicable to the Company.
d) The company is not a Core Investment Company (CIC)
as defined in the regulations made by the Reserve Bank of
x. In relation to use of money raised through issue of own shares: India. Accordingly, reporting under clause 3(xvi)(d) of the
a) The Company has not raised moneys by way of initial public Order is not applicable to the Company.
offer or further public offer (including debt instruments) and
hence reporting under clause 3(x)(a) of the Order is not xvii. The company has incurred cash losses amounting to ` 482.02 lakh
applicable to the Company. in the financial year covered by our audit and has also incurred
b) In our opinion and according to the information and cash losses amounting to ` 424.93 lakh in the immediately
explanations given to us, the Company has made preferential preceding financial year.
allotment or private placement of shares during the year and
has also complied with the requirements of section 42 and xviii. There has been no resignation of the statutory auditors of the
section 62 of the Companies Act, 2013. Further, the funds Company during the year.
raised have been used for the purposes for which the funds
were raised. xix. On the basis of the financial ratios, ageing and expected dates of
realisation of financial assets and payment of financial liabilities,
xi. In respect of Reporting on Fraud: other information accompanying the financial statements and
a) No fraud by the Company and no material fraud on the our knowledge of the Board of Directors and Management plans
Company has been noticed or reported during the year. and based on our examination of the evidence supporting the
b) No report under sub-section (12) of section 143 of the assumptions, nothing has come to our attention, which causes us
Companies Act has been filed in Form ADT-4 as prescribed to believe that any material uncertainty exists as on the date of
under rule 13 of Companies (Audit and Auditors) Rules, the audit report indicating that Company is not capable of meeting
2014 with the Central Government, during the year and its liabilities existing at the date of balance sheet as and when they
upto the date of this report. fall due within a period of one year from the balance sheet date.
c) During the year, no whistle blower complaint has been We further state that our reporting is based on the facts up to
received. the date of the audit report and we neither give any guarantee
nor any assurance that all liabilities falling due within a period of
xii. The Company is not a Nidhi Company and hence reporting under one year from the balance sheet date, will get discharged by the
clause 3(xii) of the Order is not applicable to the Company. Company as and when they fall due.
xiii. In our opinion and according to the information and explanations xx. Provisions of section 135 of the Companies Act, 2013 are not
given to us, the Company is in compliance with Section 177 applicable to the Company as the company does not qualify the
and 188 of the Companies Act, 2013 where applicable, for all limits of section. Accordingly, reporting under clause 3(xx) of the
transactions with the related parties and the details of related Order is not applicable to the Company.
party transactions have been disclosed in the financial statements
as required by the applicable accounting standards.
xiv. (a) In our opinion the Company has an adequate internal audit
system commensurate with the size and the nature of its business. For GAUR & ASSOCIATES
Chartered Accountants
(b) We have considered, the internal audit reports for the year FRN: 005354C
under audit, issued to the Company during the year and
till date, in determining the nature, timing and extent of
our audit procedures.
xv. In our opinion and according to the information and explanations Sd/-
given to us, during the year the Company has not entered into any S. K. Gupta
non-cash transactions with its Directors or persons connected Partner
to its directors and hence provisions of section 192 of the M. No. 016746 Place: New Delhi
Companies Act, 2013 are not applicable to the Company. UDIN: 23016746BGRWHE9866 Date: 25/05/2023

Balance Sheet
as at 31st March, 2023
(` in lakh)
Particulars Note As at 31st March, 2023 As at 31st March, 2022
ASSETS
Financial Assets
(a) Cash and cash equivalents 7 5,658.13 608.32
(b) Bank balances other than cash & cash equivalents 8 582.01 179.72
(c) Receivables
(d) Loans 9 24,334.60 11,993.97
(e) Investments 10 200.00
(f) Other financial assets 11 427.95 31,202.69 260.29 13,042.30
Non-financial assets
(a) Current assets (net) 12 336.57 79.93
(b) Deferred tax assets (net) 675.85 - 362.01
(c) Property, plant and equipment 425.25 150.38
(d) Capital work-in-progress 317.75 233.42
(d) Right of use asset 239.27 - 124.40
(e) Other intangible assets 1.09 0.27
(f) Other non-financial assets - 1,995.78 - 950.42
Total 33,198.47 13,992.72
LIABILITIES AND EQUITY
Liabilities
Financial liabilities
(a) Payables
(b) Trade payables
(i)Total outstanding dues of micro enterprises and small
enterprises
(ii)Total outstanding dues of creditors other than micro
enterprises and small enterprises
(c) Debt securities 2,015.32
(d) Borrowings (other than debt securities) 13 21,121.34 9,139.72
(e) Subordinated liabilities 663.37 - 660.24
(f) Lease Liability 261.97 - 143.03
(g) Other financial liabilities - 24,062.00 - 9,942.99
Non-financial liabilities
(a) Current liabilities (net) 14 1,423.76 559.01
(b) Provisions 15 46.61 37.51
(c) Deferred tax liabilities (net) 16 - -
(d) Other non-financial liabilities 17 26.28 1,496.65 1.84 598.37
Equity
(a) Equity share capital 18 2,492.14 2,159.95
(b) Other equity 19 5,118.43 1,291.42
(c) Share warrants 20 29.25 7,639.82 - 3,451.37
Total 33,198.47 13,992.72
Significant Accounting Policies and Notes to Financial Statements
The accompanying notes are an integral part of the financial statements.
As per our separate report of even date annexed herewith For and on behalf of the board MONEYBOXX FINANCE LIMITED
For Gaur & Associates Sd/- Sd/-

Chartered Accountants Mayur Modi Deepak Aggarwal
(FRN-005354C) Whole-time Director Whole-time Director & CFO
DIN: 08021679 DIN: 03140334
Sd/- Sd/- Sd/-
(S.K. Gupta) Govind Gupta Bhanu Priya
Partner Director Company Secretary
M. No.: 016746 DIN: 00065603 M. No.: A36312
Place: New Delhi
Date: 27-05-2023
Udin: 22016746AJSRPG9146

01 CORPORATE
STATEMENT
Standalone Statement of Profit and Loss

for the year ended 31st March, 2023
(` in lakh)
For the For the
Particulars Note year ended year ended
March 31st, 2023 March 31st , 2022
A REVENUE FROM OPERATIONS
(i) Interest Income 21 4,880.42 2,229.35
(ii) Sale of services 22 145.68 29.75
(iii) Net gain on fair value changes 23 14.97 -
(iv) Other income 24 2.95 71.50
Total revenue from operations (I) 5,044.03 2,330.60
B EXPENSES
(i) (Increase)/decrease in inventories 25 - -
(ii) Finance cost 26 2,167.64 1,055.73
(iii) Impairment on financial instruments 339.11 133.62
(iv) Employee benefits expenses 27 2,565.12 1,303.49
(v) Depreciation and amortisation 28 173.08 93.80
(vi) Other Expenses 29 793.28 396.30
Total expenses 6,038.23 2,982.95
Profit/(loss) before tax (III) (I-II) (994.21) (652.35)
Tax expenses
Current tax - -
Income tax paid for earlier years - -
Deferred tax (313.84) (280.34)
Total tax expenses (IV) (313.84) (280.34)
Profit/(loss) for the year (V) (III-IV) (680.37) (372.01)
Other comprehensive income
Items that will not be reclassified to P&L 11.09 8.66
Income tax relating to items that will not be reclassified to P&L - (2.25)
Other comprehensive income (VI) 11.09 6.41
Total comprehensive income for the year (V)+ (VI) (669.28) (365.60)
Earnings per equity share [nominal value of share ` 10]
Basic 30 (2.94) (1.81)
Diluted 30 (2.94) (1.81)
Significant Accounting Policies and Notes on Financial Statements


DIN: 08021679 DIN: 03140334
Sd/- Sd/- Sd/-
M. No.: 016746 DIN: 00065603 M. No.: A36312
Place: New Delhi
Date: 27-05-2023

Cash Flow Statement
(` in lakh)
For the For the
Particulars year ended year ended
31st March, 2023 31st March, 2022
A CASH FLOW FROM OPERATING ACTIVITIES
Net Profit before Tax (994.21) (652.35)
Adjustment for:
Dividend received - -
Stock based options to employees 81.31 3.08
Depreciation and amortization expense 173.08 93.80
Interest on FD and FLDG (74.46) (30.30)
Impairment of loans 246.61 96.45
Finance cost 2,167.64 1,055.73
Cash flow towards finance cost (2,167.64) (1,055.73)
Comprehensive Item 11.09 8.66
(Profit)/Loss on sale of property, plant and equipment
Operating profit before working capital changes (556.57) (480.66)
Adjustment for:
(Increase)/decrease in non-financial assets - -
(Increase)/decrease in trade loans (12,587.24) (5,813.96)
(Increase)/decrease in other financial assets (81.80) (0.59)
(Increase)/decrease in current assets (256.64) (107.47)
Increase/(decrease) in other financial liabilities - -
Increase/(decrease) in current liabilities 1,007.08 416.14
Increase/(decrease) in trade payables - -
Increase/(decrease) in provisions 9.10 49.91
Increase/(decrease) in other non-financial liabilities 24.44 (1.61)
Cash generated from operations (12,441.63) (5,938.25)
Net income tax (paid)
Net cash flows from/(used in) operating activities (A) (12,441.63) (5,938.25)
B CASH FLOW FROM INVESTING ACTIVITIES
Purchase of fixed assets (437.17) (139.70)
Increase/decrease in FD & FLDG (85.86) (3.09)
Interest on FD & FLDG 74.46 30.30
Movement in bank balances other than cash & cash equivalents (402.29) (169.72)
Sale of fixed assets - -
Purchase of investments (200.00) -
Other non current assets - -
Sale of investments - -
Dividends received - -

01 CORPORATE
STATEMENT
Cash Flow Statement

(` in lakh)
For the For the
Particulars year ended year ended
31st March, 2023 31st March, 2022
Net cash from/(used in) Investing activities (B) (1,050.86) (282.21)
C CASH FLOW FROM FINANCING ACTIVITIES
Proceeds from Issue of share capital 361.44 151.78
Share premium on equity shares allotted 4,477.29 1,290.17
Payment of share issue expense (62.30) (43.16)
Proceeds from borrowings from financial institutions 23,516.98 8,998.81
Repayment of borrowings from financial institutions (9,659.25) (3,748.41)
Payment of lease liabilities (91.84) (53.64)
Dividend paid - -
Net cash from/(used in) financing activities(C) 18,542.30 6,595.55
Net (decrease)/increase in cash and cash equivalents (A+B+C) 5,049.82 375.09
Cash and cash equivalents at beginning of year 608.32 233.22
Cash and cash equivalents at end of year 5,658.13 608.32
Total cash and cash equivalents 5,658.13 608.32
Significant Accounting Policies and Notes on Financial Statements


DIN: 08021679 DIN: 03140334
Sd/- Sd/- Sd/-
M. No.: 016746 DIN: 00065603 M. No.: A36312
Place: New Delhi
Date: 27-05-2023

Notes to the Financial Statements
Note No. 1 CORPORATE INFORMATION and assumptions that affect the application of accounting
Moneyboxx Finance Limited an Indian Company incorporated on policies and the reported amounts of assets and liabilities
November 16, 1994, under the provisions of Companies Act, 1956, (including contingent liabilities) and disclosures as of the
having its registered office at New Delhi.The Company is registered date of the financial statements and the reported amounts of
with the Reserve Bank of India (“RBI”) as a Non-Systemically revenues and expenses for the reporting period.Actual results
Important Non-Deposit Taking Non-Banking Financial Company could differ from these estimates. Accounting estimates and
(NBFC) and the Company is also listed on Main Board of Bombay underlying assumptions are reviewed on an ongoing basis and
Stock Exchange Ltd. (BSE), Mumbai. could change from period to period. Appropriate changes in
estimates. are recognized in the periods in which the Company
The Company is engaged in lending and allied activities. The becomes aware of the changes in circumstances surrounding
Company focuses on small and medium-sized enterprises (SME) the estimates. Any revisions to accounting estimates are
lending, commercial lending, and value-added services. recognized prospectively in the period in which the estimate
is revised and future periods. The estimates and judgements
Note No. 2 STATEMENTS OF SIGNIFICANT that have a significant impact on the carrying amount of assets
AC C O U N T I N G POLICIES BASIS OF and liabilities at each balance sheet date.
PREPARATION OF FINANCIAL STATEMENTS
1. Compliance with IND-AS 5. Date of recognition of Financial Instruments
The financial statements of the Company comply in all material Financial assets and financial liabilities are recognized in the
aspects with Indian Accounting Standards (‘Ind-AS’) notified Company’s balance sheet when the Company becomes a party
under Section 133 of the Companies Act, 2013 (‘the Act’) read to the contractual provisions of the instrument.
with the Companies (Indian Accounting Standards) Rules, 2015
as amended from time to time and other relevant provisions of 6. Impairment of financial assets
the Act. Any directions issued by the RBI or other regulators The Company applies the ECL model in accordance with Ind-
are implemented as and when they become applicable. AS 109 for recognizing impairment loss on financial assets.
The ECL allowance is based on the credit losses expected to
Accounting policies have been consistently applied except arise from all possible default events over the expected life
where a newly issued accounting standard is initially adopted of the financial asset (‘lifetime ECL’) unless there has been
or a revision to the existing accounting standard requires a no significant increase in credit risk since origination. ECL is
change in the accounting policy hitherto in use. calculated on a collective basis, considering the retail nature
of the underlying portfolio of financial assets.
2. Presentation of financial statements
The Balance Sheet and the Statement of Profit and Loss The impairment methodology applied depends on whether
are presented in the format prescribed under Division III of there has been a significant increase in credit risk. When
Schedule III of the Act, as amended from time to time, for determining whether the risk of default on a financial asset
Non-Banking Financial Companies (‘NBFCs’) that are required has increased significantly since initial recognition, the
to comply with Ind-AS.The Statement of Cash Flows has been Company considers reasonable and supportable information
presented as per the requirements of Ind-AS 7 Statement of that is relevant and available without undue cost or effort.
Cash Flows. This includes both quantitative and qualitative information
and analysis based on a provision matrix which takes into
3. Basis of preparation account the Company’s historical credit loss experience,
The financial statements have been prepared under the current economic conditions, forward-looking information
historical cost convention on the accrual basis except for and scenario analysis. The expected credit loss is a product
certain financial instruments and plan assets of defined benefit of exposure at default (‘EAD’), probability of default (‘PD’)
plans, which are measured at fair values at the end of each and loss given default (‘LGD’). The Company has evaluated
reporting period as explained in the accounting policies below. the PD and LGD based on the management's best estimate in
All amounts disclosed in the financial statements and notes accordance with Ind-AS 109.
have been rounded off to the nearest INR in compliance with
Schedule III of the Act, unless otherwise stated. 7. Financial Liabilities
Financial liabilities are measured at amortized cost. The
4. Use of Estimates carrying amounts are determined based on the EIR method.
The preparation of financial statements in conformity with Interest expense is recognized in the statement of profit and
Ind-AS requires management to make estimates, judgements loss.

01 CORPORATE
STATEMENT

Any gain or loss on de-recognition of financial liabilities is also account only on receipt of amount in the bank and as such no
recognized in the statement of profit and loss. cheques in hand are taken into consideration.
Undrawn loan commitments are not recorded in the 12. Property, plant, and equipment as per Ind-AS 16
balance sheet. a. Recognition and measurement
Tangible property, plant and equipment are stated at cost
8. Finance Cost
less accumulated depreciation and impairment if any.The
Finance cost is on account of adoption of Ind AS 116, Leases. cost of property, plant and equipment comprise purchase
The lease payments are discounted using the interest rate price and any attributable cost of bringing the asset to
implicit in the lease or, if not readily determinable, using the its working condition for its intended use.
incremental borrowing rates in the country of domicile of
these leases. Cost of assets not put to use before such date are
disclosed under Capital work-in-progress.
Further the company applied provisions of Ind AS-109 for
recognizing borrowing cost. We have considered all payments made towards software
implementation under Capital work in progress as our
9. Write Offs software is under implementation.
The gross carrying amount of a financial asset is written
off (either partially or in full) to the extent that there is no b. Subsequent expenditure
reasonable expectation of recovering the asset in its entirety Subsequent expenditure incurred on assets put to use is
or a portion thereof. This is generally the case when the capitalized only when it increases the future economic
Company determines that the debtor does not have assets benefits / functioning capability from / of such assets.
or sources of income that could generate sufficient cash flows
to repay the amounts subject to the write-off. c. Depreciation estimated useful lives and residual
value.
During the year, the Company has written off the loan Depreciation is calculated using the straight–line method
assets worth ` 240.07 lakh due to NPAs & ` 6.54 lakh to write down the cost of property and equipment to
on account of shortfall in insurance in case of death cases their residual values over their estimated useful lives in
during the year. the manner prescribed in Schedule II of the Act. The
estimated lives used and differences from the lives
10. Provisions, Contingent Liabilities and Contingent Assets prescribed under Schedule II are noted in the table
Provisions involving substantial degree of estimation in below: -
measurement are recognized when there is a present obligation
because of past events, and it is probable that there will be an Type of Assets Estimated Estimated useful
outflow of resources. Contingent Liabilities are not recognized useful life as life under chedule
but are disclosed in the notes. Contingent assets are neither assessed by the II of the Act
Company
recognized nor disclosed in the financial statements.
Computers 3 Years 3 Years
With respect to the Business Correspondence (BC) Software & System 3 Years 3 Years
partnership with Utkarsh Small Finance Bank, the Company Development
has given corporate guarantee of 5% of the amount disbursed Office Equipment 5 Years 5 Years
under the BC arrangement which amounts to ` 69.91 lakh as
Motor Cars 8 Years 8 Years
of 31st March 2023.
Furniture & Fixtures 10 Years 10 Years
11. Cash and cash equivalents Leasehold Tenure of lease Tenure of lease
Cash and cash equivalents include cash at banks and on hand, Improvements agreements agreements
demand deposits with banks, other short term highly liquid The Company uniformly estimates a five percent
investments with original maturities of three months or less/ residual value for all these assets. Items costing less than
more that are readily convertible to known amounts of cash ` 5,000 are fully depreciated in the year of purchase.
and which are subject to an insignificant risk of changes in value. Depreciation is pro-rated in the year of acquisition as
The Company follows the policy of crediting the customer’s well as in the year of disposal.

The residual values, useful lives, and methods of financial asset before adjusting for any expected credit
depreciation of property, plant and equipment are loss allowance). For credit-impaired financial assets the
reviewed at each financial year end and adjusted interest income is calculated by applying the EIR to the
prospectively, if appropriate. amortized cost of the credit-impaired financial assets
(i.e., the gross carrying amount less the allowance for
Changes in the expected useful life are accounted ECLs).
for by changing the depreciation period or
methodology, as appropriate, and treated as changes in Other financial charges
accounting estimates. Cheque bouncing charges, late payment charges and
prepayment charges are recognized on a point-in-
13. Other intangible assets
time basis and are recorded when realized since the
Software and system development expenditure are capitalized probability of collecting such monies is established when
at cost of acquisition including cost attributable to readying the the customer pays.
asset for use. Such intangible assets are subsequently measured
at cost less accumulated amortization and any accumulated 15. Employee Benefits as per Ind AS-19
impairment losses. The useful life of these intangible assets is
a. Provident Fund
estimated at 3 years with zero residual value.Any expenses on
such software for support and maintenance payable annually Retirement benefit in the form of provident fund, is
are charged to the statement of profit and loss. a defined contribution scheme. The Company has no
obligation, other than the contribution payable to the
14. Revenue recognition provident fund. The Company recognizes contribution
payable to the provident fund scheme as an expense
Revenue (other than for those items to which Ind-AS 109
when an employee renders the related service.
Financial Instruments is applicable) is measured at fair value of
the consideration received or receivable. Amounts disclosed
b. ESIC
as revenue are net of goods and services tax (‘GST’) and
amounts collected on behalf of third parties. Ind-AS 115 The Company’s contribution paid/payable during the
Revenue from Contracts with Customers outlines a single year to ESIC are recognized in the statement of profit
comprehensive model of accounting for revenue arising from and loss.
contracts with customers.
c. Gratuity
Specific policies for the Company’s different sources of The Company operates a defined benefit gratuity plan
revenue are explained below: that provides for gratuity benefit to all employees. The
benefit is in the form of lump sum payments to vested
a. Income from lending business employees on resignation, retirement, or death while
Interest Income in employment or on termination of employment, as
Interest income on a financial asset at amortized cost defined in provisions of Gratuity Act 1972 as amended.
is recognized on a time proportion basis considering Vesting occurs upon completion of four years of service.
the amount outstanding and the effective interest
rate (‘EIR’). The EIR is the rate that exactly discounts The Company creates an appropriate provision for
estimated future cash flows of the financial asset gratuity fund based on the actuarial valuation determined
through the expected life of the financial asset or, where as at the year-end.
appropriate, a shorter period, to the net carrying amount
of the financial instrument. The internal rate of return The cost of providing benefits under the defined
on financial asset after netting off the fees received, and benefit plan is determined using the basis of last drawn
cost incurred approximates the effective interest rate qualifying salary.
of return for the financial asset. The future cash flows
are estimated considering all the contractual terms of
16. Leases
the instrument. The Company has adopted Ind-AS 116 - Leases and applied
it to all lease contracts entered. Based on the same and
The interest income is calculated by applying the EIR as permitted under the specific transitional provisions in
to the gross carrying amount of non-credit impaired the standard, the Company is not required to restate the
financial assets (i.e., at the amortized cost of the comparative figures.

01 CORPORATE
STATEMENT

All leases are accounted for by recognizing a right-of-use asset Further being an NBFC Company, the Company has followed
and a lease liability except for: the policy to availed only 50% input credit of GST on all
expenses as well as on Capital Goods Purchased and the
- Leases of low value assets; and remaining 50% will be lapsed as per Rule No. 3 of ITC of GST.
- Leases with a duration of 12 months or less 18. Income tax

The following policies applied- a. Current tax
Current tax is measured at the amount expected to be
Lease liabilities are measured at the present value of the paid to the tax authorities in accordance with the Income
contractual payments due to the lessor over the lease term, Tax Act, 1961 in respect of taxable income for the year
with the discount rate determined by reference to the rate and any adjustment to the tax payable or receivable in
inherent in the lease unless (as is typically the case) this is not respect of previous years.
readily determinable, in which case the Company’s incremental
borrowing rate on commencement of the lease is used. b. Deferred tax
Variable lease payments are only included in the measurement
Deferred tax is provided on temporary differences
of the lease liability if they depend on an index or rate. In such
at the reporting date between the tax bases of assets
cases, the initial measurement of the lease liability assumes
the variable element will remain unchanged throughout the and liabilities and their carrying amounts for financial
lease term. Other variable lease payments are expensed in the reporting purposes.
period to which they relate.
19. Earnings Per Share
Right-of-use assets are initially measured at the amount of the The Company reports basic and diluted earnings per equity
lease liability, reduced for any lease incentives received, and share as per Ind-AS 33. Basic earnings per equity share have
increased for: been computed by dividing net profit / loss attributable to
the equity shareholders for the year by the weighted average
- initial direct costs incurred; and number of equity shares outstanding during the year. Diluted
earnings per equity share have been computed by dividing
- the amount of any provision recognized where the Company
the net profit attributable to the equity shareholders after
is contractually required to dismantle,
giving impact of dilutive potential equity shares for the year

Subsequent to initial measurement lease liabilities increase as by the weighted average number of equity shares and dilutive
a result of interest charged at a constant rate on the balance potential equity shares outstanding during the year, except
outstanding and are reduced for lease payments made. Right- where the results are anti-dilutive.
of-use assets are amortized on a straight-line basis over the
remaining term of the lease or over the remaining economic 20. Colending & Business Correspondence Partnership
life of the asset if, rarely, this is judged to be shorter than the During FY23, the Company entered into Co-lending
lease term. partnerships with Vivriti Capital Pvt. Ltd. and MAS Financial
Services Ltd. and Business Correspondence partnership with
17. Goods and services tax paid on acquisition of assets or Utkarsh Small Finance Bank
on incurring expenses.
Expenses and assets are recognized net of the goods and Note No. 3 Reporting Segment
services tax paid, except when the tax incurred on a purchase
As the company is engaged in a single segment i.e., Financial
of assets or services is not recoverable from the tax authority,
Activities/Services, hence there is no separate reportable segment
in which case, the tax paid is recognized as part of the cost
as per Ind AS 108.
of acquisition of the asset or as part of the expense item,
as applicable.
Note No. 4 Details of Single Borrower Limits (SBL)/
The net amount of tax recoverable from, or payable to, the Group Borrower Limits (GBL) exceeded.
tax authority is included as part of receivables or payables, The Company has not exceeded the single borrower limits/group
respectively, in the balance sheet. borrower limits as set as by Reserve Bank of India.

Note No. 5 Details of dues to Micro, Small and Some Important Ratio Analysis is as follows-
Medium Enterprises
As per the information available, the following is the status of Particulars 31.03.2023 31.03.2022
MSME parties. CRAR (Capital Risk Adequacy 30.96% 30.59%
Ratio)
Particulars 31 March 2023 31 March 2022 GNPA Ratio (Gross Non- 0.83% 0.62%
The principal amount remaining -- -- Performing Asset Ratio)
unpaid at the end of the year NNPA Ratio (Net Non- 0.42% 0.31%
The Interest Amount remaining -- -- Performing Asset Ratio)
unpaid at the end of the year
Balance of MSME parties at the -- -- (` in lakh)
end of the year Capital Adequacy (`) 31.03.2023 31.03.2022
Tier I Capital 6962.88 3089.09
Note No. 6 Capital Management Tier II Capital 458.26 552.51
The primary objective of the Company’s capital management policy Total Capital 7421.14 3641.60
is to ensure compliance with regulatory capital requirements. In line Risk Weighted Assets 23967.77 11904.90
with this objective, the Company ensures adequate capital at all the Tier I Capital Ratio % 29.05% 25.95%
times and manages its business in a way in which capital is protected, Tier II Capital Ratio % 1.91% 4.64%
satisfactory business growth is ensured, cash flows are monitored, Total Capital Adequacy 30.96% 30.59%
borrowing covenants are honored and ratings are maintained. Ratio %
Regulatory capital-related information is presented as part of the GNPA Movement as below:

RBI mandated disclosures. The RBI norms require capital to be
maintained at prescribed levels. In accordance with such norms, (` in lakh)
Tier I capital of the Company comprises of share capital, share Gross Non-Performing Assets 31.03.2023 31.03.2022
premium, reserves and perpetual debt, Tier II capital comprises (`)
of subordinated debt and provision on loans that are not credit Opening Balance 74.18 13.20
impaired.There were no changes in the capital management process Addition during the year 365.41 156.93
during the periods presented. Written off during the year (240.06) (95.95)
Closing Balance 199.53 74.18

01 CORPORATE
STATEMENT

Note 7. Cash and Cash Equivalents

(` in lakh)
As at As at
Particulars
31.03.2023 31.03.2022
(a) Cash in hand 46.37 3.31
(b) Balances with Scheduled Banks - -
- In Current Accounts 4,183.84 605.01
- In Fixed Deposits with original maturity of three months or less 1,427.91 -
Total Amount 5,658.13 608.32
Note 8. Bank Balances Other than Cash & Cash Equivalents

(` in lakh)
As at As at
Particulars
31.03.2023 31.03.2022
Fixed Deposits (Held as margin against borrowings by Lenders) 582.01 179.72
Total Amount 582.01 179.72
Note 9. Loans
(` in lakh)
As at As at
Particulars
31.03.2023 31.03.2022
(a) Staff Loans 22.67 9.90
(f) ^Loans and Advances ^ 24,311.93 11,984.07
Total Amount 24,334.60 11,993.97
^ Amount represents Owned Lending book.
(` in lakh)
As at As at
Loans & Advances
31.03.2023 31.03.2022
Total AUM 33,811.31 11,904.90
Less : Co lending managed book (8,447.47) -
Less : BC managed book (1,396.07) -
Less- Expected Credit Loss (160.00) (67.50)
Net AUM 23,807.77 11,837.40
Accrued Interest on Loans 504.16 146.67
Owned AUM 24,311.93 11,984.07
Note 10. Investments

(` in lakh)
As at As at
Particulars
31.03.2023 31.03.2022
Money Market
Mutual Fund (Mirae Asset Cash Management Fund ) 200.00 -
Total Amount 200.00 -

Note 11. Other Financial Asset

(` in lakh)
As at As at
Particulars
31.03.2023 31.03.2022
(a) FLDG* 315.43 229.57
(b) Security Deposit 84.47 29.56
(c) Advance EMI- MAS TL 20.83 -
(d) Staff Imprest 7.23 1.16
* This amount is security with Lenders which includes interest there on.
Note 12. Other Current Assets

(` in lakh)
As at As at
Particulars
31.03.2023 31.03.2022
(a) Balance with Income Tax Authorities 0.99 3.70
(b) GST Input Credit - 12.23
(c) Other Current Assets 266.47 35.95
(d) Insurance Claim Receivable 1.76 17.87
(e) Stamp Paper 67.34 10.19
Note 13. Borrowings (other than debt securities)

(` in lakh)
As at As at
Particulars
31.03.2023 31.03.2022
Secured Loan
Alwar General Finance Co. Pvt Ltd 144.49 384.64
Ambit Finvest Pvt Ltd 555.57 172.75
Ashv Finance Limited - 74.49
AU Small Finance Bank Ltd 957.61 91.73
Blacksoil Capital Pvt Ltd 1,256.93 718.60
Capri Global Capital Limited 211.51 148.88
Caspian Impact Investment Pvt Ltd 803.31 916.42
Eclear Leasing & Finance Pvt Ltd 677.55 805.51
Hindon Mercantile Limited - 107.33
Hinduja Leyland Finance Ltd 1,210.59 707.02
Incred Financial Services Limited 952.51 721.82
MAS Financial Services Limited 1,656.68 575.56
Profectus Capital Pvt Ltd 749.52 339.04
UC Inclusive Credit Pvt Ltd 762.70 561.89
Klay Capital 744.39 293.74
DCB Bank 1,347.82 931.37
Vivriti Capital Pvt Ltd 1,958.09 389.90

01 CORPORATE
STATEMENT

(` in lakh)
As at As at
Particulars
31.03.2023 31.03.2022
Western Capital Pvt Ltd 965.35 499.89
Borrowings against PTC Securitisation - 699.15
Utkarsh Small Finance Bank Ltd 499.20 -
Tata Capital Financial Services Limited 435.73 -
State Bank of India 2,182.43 -
IDFC First Bank 712.97 -
Manaveeya Development & Finance Pvt Ltd (Oiko Credit) 1,975.52 -
Electronica Finance Limited 360.88 -
Total Amount 21,121.34 9,139.72
Note 14. Current Liabilities(Net)

(` in lakh)
As at As at
Particulars
31.03.2023 31.03.2022
(a) PF/ESIC 24.88 10.29
(b) Professional Tax 0.98 0.32
(c) GST Payable 8.18 0.57
(d) TDS Payable 47.06 22.48
(e) Other Expenses Payable 196.06 18.37
(f) Funds in transit ( Loan Disbursals) 942.13 506.99
(g) Interest Accrued but not Due (Colending) 131.12 -
(h) Advance Emi secured 72.82 -
(i) Kodo Credit 0.53 -
Total Amount 1,423.76 559.01
Note 15. Provisions

(` in lakh)
As at As at
Particulars
31.03.2023 31.03.2022
On Gratuity 46.61 37.51
Note 16. Deferred Tax Liability

(` in lakh)
As at As at
Particulars
31.03.2023 31.03.2022
Net Deferred tax Liability - -
Net Amount - -
Note 17. Other Non-financial Liabilities

(` in lakh)
As at As at
Particulars
31.03.2023 31.03.2022
Deferred Revenue (Pre-Emi Interest) 26.28 1.84

Note 18. Statement of Changes in Equity

Current reporting period FY 2022-23
Balance at the Changes in Equity Share Restated balance at the Changes in equity Balance at the end of the
beginning of the current Capital due to prior beginning of the current share capital during the current reporting period
reporting period period errors reporting period current year
215,994,980 0 215,994,980 33,218,620 249,213,600
Previous reporting period FY 2021-22

Balance at the Changes in Equity Share Restated balance at the Changes in equity Balance at the end of the
beginning of the current Capital due to prior beginning of the current share capital during the current reporting period
reporting period period errors reporting period current year
200,816,510 0 200,816,510 15,178,470 215,994,980
Note 19. Other Equity FY 2022-23

Reserve & Surplus
Share Equity Capital Securities Other Other Retained Debt Equity Effective Revaluation Exchange Exchange Money Total
application component Reserve Premium Reserves Reserves Earnings instruments Instruments portion on Surplus differences differences received
money of (RBI (ESOP) through Other through Other of Cash on on against
pending compound Special Comprehensive Comprehensive Flow translating translating share
allotment financial Reserve) Income Income Hedges the the warrants
Instruments financial financial
statements statements
of a foreign
operation
Balance at the - - - 2,295.83 15.18 3.08 (1,022.67) - - - - - - - 1,291.42
beginning of the
reporting period
Changes in - - - - - - - - - - - - - - -
accounting policy/
prior period errors
Restated balance at - - - 2,295.83 15.18 3.08 (1,022.67) - - - - - - - 1,291.42
the beginning of the
reporting period
Total - - - - - - 11.09 - - - - - - - 11.09
Comprehensive
Income for the year
Dividends - - - - - - - - - - - - - - -
Transfer to retained - - - - - - (680.37) - - - - - - - (680.37)
earnings
Any other change - - - 4,477.29 - 81.31 - - - - - - - - 4,558.60
(Addition)
Any other change - - - (62.30) - - - - - - - - - - (62.30)
(Utilized)
Balance at the end - - - 6,710.82 15.18 84.39 (1,691.95) - - - - - - - 5,118.43
of the reporting
period

01 CORPORATE
STATEMENT

Other Equity FY 2021-22

Reserve & Surplus
Share Equity Capital Securities Other Other Retained Debt Equity Effective Revaluation Exchange Exchange Money Total
application component Reserve Premium Reserves Reserves Earnings instruments Instruments portion on Surplus differences differences received
money of compound (RBI (ESOP) through Other through Other of Cash on on against
pending financial Special Comprehensive Comprehensive Flow translating translating share
allotment Instruments Reserve) Income Income Hedges the financial the financial warrants
statements statements
of a foreign
operation
Balance - - - 1,048.83 15.18 - (657.07) - - - - - - - 406.94
at the
beginning
of the
reporting
period
Changes in - - - - - - - - - - - - - - -
accounting
policy/prior
period
errors
Restated - - - 1,048.83 15.18 - (657.07) - - - - - - - 406.94
balance
at the
beginning
of the
reporting
period
Total - - - - - - - - - - - - - - -
Compre-
hensive
Income for
the year
Dividends - - - - - - - - - - - - - - -
Transfer to - - - - - - (365.60) - - - - - - - (365.60)
retained
earnings
Any other - - - 1,290.17 - 3.08 - - - - - - - - 1,293.25
change
(Addition)
Any other - - - (43.16) - - - - - - - - - - (43.16)
change
(Utilized)
Balance at - - - 2,295.83 15.18 3.08 (1,022.67) - - - - - - - 1,291.42
the end
of the
reporting
period

Note 20. Share warrants

(` in lakh)
Particulars As at 31.03.2022 As at 31.03.2022
Mayur Modi (585000 warrants @2.5 ` Each) 14.63 -
Deepak Aggarwal (585000 warrants @2.5 ` Each) 14.63 -
Note 21. Interest Income

(` in lakh)
For the For the
Particulars period ended period ended
31.03.2023 31.03.2022
Interest Income on Owned Portfolio 4,073.43 2,197.70
Excess Interest Spread on Colending 730.99 -
Interest on Staff Loan 1.54 1.35
Interest on FDR's 57.85 16.25
Interest Income on FLDG 16.61 14.04
Total Amount 4,880.42 2,229.35
Note 22. Sale of Services

(` in lakh)
For the For the
31.03.2023 31.03.2022
Bouncing Charges 57.02 21.54
Servicer Fee (BC) 38.70 -
Restructuring Charges - 0.01
Other Income from Branches ( LPI etc.) 6.29 2.65
Pre-Payment charges 17.42 5.55
login & legal Fee 26.26 -
Note 23. Net Gain on Fair Value Changes

(` in lakh)
For the For the
31.03.2023 31.03.2022
Investments
Gain on sale of Mutual Funds 14.97 -
14.97
Realised 14.97 -
Unrealised - -

01 CORPORATE
STATEMENT

Note 24. Other Income

(` in lakh)
For the For the
31.03.2023 31.03.2022
Interest on IT refund 1.11 0.75
Recovery Gain (On Written off Cases) 1.77 0.09
Misc. Income 0.07 70.33
Gain on lease modification - 0.33
Note 25. (Increase)/Decrease in inventories

(` in lakh)
For the For the
31.03.2023 31.03.2022
(Increase)/ Decrease
Closing Stocks - -
Less: Opening Stocks - -
Net (Increase)/Decrease - -
Note 26. Finance Cost

(` in lakh)
For the For the
31.03.2023 31.03.2022
Interest , Proc Fee & Doc Fee ( Term Loans , NCD & PTC ) 2,131.34 1,035.79
Interest on Lease Liability 33.75 18.35
Interest on Current Service cost(Gratuity) 2.55 1.59
Total 2,167.64 1,055.73
Note 27. Employee Benefit Expense

(` in lakh)
For the For the
31.03.2023 31.03.2022
Employees' emoluments (Includes Managerial remuneration):
- Salaries, wages and bonus 2,015.18 1,063.49
- Director's Remuneration 252.00 120.00
- Contribution to provident and other funds 117.51 58.69
- Staff welfare expenses 46.81 20.41
- Staff Insurance 21.95 11.88
- Service cost (Gratuity) 17.64 19.81
- Share based payment to employees 81.31 3.08
- Mobile Claim 12.72 6.14
Total 2,565.12 1,303.49

Note 28. Depreciation and amortization Expense

(` in lakh)
For the For the
31.03.2023 31.03.2022
Depreciation during the year (including ROU ) 172.62 93.51
Amortisation Expenses 0.46 0.29
Total 173.08 93.80
Note 29. Other expenses

(` in lakh)
For the For the
31.03.2023 31.03.2022
Advertisement 7.16 0.71
Audit Fees 6.20 2.00
Bank Charges 15.86 12.55
Credit reports - -
Corporate Guarantee Expense - 19.50
Donation 0.04 0.11
Electricity charges 10.23 5.33
Freight Charges 0.41 0.62
File Storage Charges 0.93 0.61
Communication Costs 8.47 4.65
IT Expense, License Fees & Software Expense 87.23 33.22
Listing Fees & Membership Fees 20.59 9.69
Office Expense 92.44 32.22
Office Rent 63.88 24.60
Postage & Courier 8.82 4.77
Printer Rent 8.77 8.48
Printing & Stationery 2.91 6.09
Professional Charges 72.36 73.43
Rates & Taxes 123.23 35.05
Repair & Maintenance 2.11 2.97
Sitting Fees Independent Director 11.10 9.40
Stamp Paper Commission, Handling & Convenience Fee 7.19 5.95
Travelling & Conveyance 243.36 104.37
Total 793.28 396.30
Note 30. Earning per share
For the For the

31.03.2023 31.03.2022
Profit after Tax (680.37) (372.01)
Weighted Average No of Equity shares in calculation of Basic earning per share 23,140,136 20,461,113
Dilution on account of ESOP and partly paid up shares * - -
Weighted Average Number of Equity Shares in calculation of diluted earnings per share 23,140,136 20,461,113
Basic earning per share (2.94) (1.82)
Diluted earning per share (`) (2.94) (1.82)
No of ESOPs granted 208,700.00 309,500.00
Weighted Average no of ESOPs 443,296.71 25,791.67
Exercise Price 115.00 95.00
Average Market price during FY22 (`) 157.60 89.74
Weighted average number of shares that would have been issued at average market price 323,480.59 27,304.70
* Anti Dilutive Shares: there is no dilution effect for FY23

01 CORPORATE
STATEMENT


CIN : L30007DL1994PLC260191
REG. OFFICE : 523-A SOMDUTT CHAMBER-II, 9 BHIKAJI CAMA PLACE, NEW DELHI-110066
Depreciation as per Schedule-II of Companies Act, 2013

Basis of Depreciation: Straight Line Method
Tangible Assets
` in lakh
GROSS BLOCK DEPRECIATION/AMORTISATION NET BLOCK
Less :
Particulars Additions Less:
As on As on As on During Transferred As on As on As on
during Transfer/ Revaluation
01.04.2022 31.03.2023 01.04.2022 the period during 31.03.2023 31.03.2023 31.03.2022
the period Deletion
the period
Computer 109.38 110.04 - - 219.41 51.38 46.95 - 98.33 121.09 58.00
- - - - -
Furniture 68.36 144.86 - - 213.22 10.74 14.16 - 24.89 188.33 57.62
& Fixture
- - - - -
Mobile 0.48 - - - 0.48 0.48 - - 0.48 0.03 0.03
- - - - -
Office 30.54 35.08 - - 65.62 12.57 9.28 21.85 43.77 17.97
Equipment
- - - - -
Leasehold 38.14 61.58 - - 99.72 23.98 3.71 27.68 72.04 14.16
Improvement
- - - - -
Vehicle 19.03 - - - 19.03 16.43 2.60 - 19.03 0.00 2.60
Total 265.93 351.56 - - 617.49 115.58 76.69 - 192.27 425.25 150.38
Intangible Assets
` in lakh
Less :
the period Deletion
the period
Software 0.87 1.28 - - 2.16 0.60 0.46 - 1.06 1.09 0.27
Total 0.87 1.28 - - 2.16 0.60 0.46 - 1.06 1.09 0.27
Capital Work in Progress

` in lakh
Less :
the period Deletion
the period
Capital Work 233.42 84.33 - - 317.75 - - - - 317.75 233.42
in Progress
Total 233.42 84.33 - - 317.75 - - - - 317.75 233.42

CWIP aging schedule

(` in lakh)
Amount in CWIP for a period of Total
Intangible assets under development Less than 1 year 1-2 years 2-3 years More than 3 years
Projects in progress 76.07 132.03 83.15 26.49 317.75
Projects temporarily suspended - - - - -
Note No. 31 Related Party Disclosure with the parties as disclosed under IND-AS-24
a. List of Related Parties
Name of Related Party Nature of Relationship
Shyam Goel & Associates Related Concern
Moneyboxx Capital Private Limited Holding Company
Director & their relatives
Mr. Mayur Modi Whole-time Director
Mr. Deepak Aggarwal Whole-time Director
Mr. Govind Gupta Director
Mr. Atul Garg Director
Independent Directors
Ratna Dharashree Vishwanathan Independent Director
Uma Shankar Paliwal Independent Director
b. Key Management Personnel (KMP)

Name of Person Designation
Mr. Mayur Modi Co-CEO & Co-COO
Mr. Deepak Aggarwal Co-CEO & CFO
Ms. Bhanu Priya* Company Secretary & Compliance Officer
c. Details of Transactions with related parties

(` in lakh)
Nature and Volume of Transactions Year 2022-23 Year 2021-22
Remuneration
Mr. Mayur Modi 176.00 84.24
Mr. Deepak Aggarwal 176.00 84.24
Ms. Bhanu Priya* 12.29 6.46
Sitting Fee to Independent Directors
Ratna Dharashree Vishwanathan 5.70 4.70
Uma Shankar Paliwal 5.40 4.70
Office Rent
Govind Gupta 0.00 2.45
Moneyboxx Capital Pvt Ltd 0.00 1.05
Reimbursement of Expense
Mr. Mayur Modi 0.00 1.37
Mr. Deepak Aggarwal 0.19 1.47
Mr. Govind Gupta 0.65 0.31
Moneyboxx Capital Pvt Ltd 0.00 0.00
Corporate Guarantee Commission
Moneyboxx Capital Pvt. Ltd. 0.00 19.50
Loans & Advances
Moneyboxx Capital Pvt. Ltd. – Loans Taken (28-02-2022) 0.00 150.00
Repayment of Loan to Moneyboxx Capital Pvt. Ltd. (08-03-2022) 0.00 150.00
Interest paid on Loan to Moneyboxx Capital Pvt. Ltd. (Roi- 1.25% pm) 0.00 0.50
*Company Secretary and Compliance Officer appointed w.e.f. August 14, 2021.

01 CORPORATE
STATEMENT

d. Closing Balance with related parties:

(` in lakh)
Name of Related Party Year 2022-23 Year 2021-22
Moneyboxx Capital Pvt. Ltd 1.54 0.00
Note No. 32 RBI ECL disclosure requirements.

Expected Credit Loss is calculated as below:
ECL = Exposure at Default * Probability of Default * Loss Given Default
Category Loans (` In Lakh) Estimated PD Expected LGD ECL (` In Lakh)

Stage 1 (0-30') 23,663.41 0.50% 50% 59.16
Stage 2 (31-90') 104.83 2.00% 50% 1.04
Stage 3 (90+) 199.53 100.00% 50% 99.76
Grand Total 23,967.77 160.00
(` in lakh)
Asset Asset Gross Carrying Loss Allowances Net Provisions Difference
Classification as classification as Amount as per (Provisions) as Carrying Amount required as per between Ind AS
per RBI Norms per Ind AS 109 Ind AS required under IRACP norms 109 provisions and
Ind AS 109 IRACP norms
(1) (2) (3) (4) (5) = (3)-(4) (6) (7) = (4)-(6)
Performing Assets
Standard Stage 1 23,663.41 59.16 23604.25 59.16 0.00
Stage 2 104.83 1.04 103.79 0.26 0.78
Subtotal 23,768.24 60.20 23,708.04 59.42 0.78
Non-Performing Assets (NPA)
Substandard Stage 3 199.53 99.76 99.77 19.95 79.81
Doubtful - up to 1 Stage 3 0 0 0 0 0
year
1 to 3 years Stage 3 0 0 0 0 0
More than 3 years Stage 3 0 0 0 0 0
Subtotal for doubtful 0 0 0 0 0
Loss Stage 3 0 0 0 0 0
Subtotal for NPA 199.53 99.76 99.77 19.95 79.81
Other items such Stage 1 0 0 0 0 0
as guarantees, loan Stage 2 0 0 0 0 0
commitments, etc.
Stage 3 0 0 0 0 0
which are in the
scope of Ind AS 109
but not covered
under current
Income Recognition,
Asset Classification
and Provisioning
(IRACP) norms
Subtotal 0 0 0 0 0
Stage 1 23,663.41 59.16 23,604.25 59.16 0.00
Stage 2 104.83 1.04 103.79 0.26 0.78
Total
Stage 3 199.53 99.76 99.77 19.95 79.81
Total 23,967.77 159.96 23,807.81 79.37 80.59

Note No. 33
The Previous year figure have been reworked, regrouped, rearranged, and reclassified wherever necessary. Accordingly, amounts and other
disclosures for the preceding year are included as an integral part of the current year financial statements and are to be read in relation to
the amounts and other disclosures relating to the current year.
Note No. 34
During the year, the company has used the borrowings from banks and financial institutions for the specific purpose for which it was taken
at the balance sheet date.
Note No. 35 Additional Regulatory Information

i. The company does not hold any immovable property where title deeds are not held in name of the Company.
ii. No investment property is held by the company as at Balance sheet date.
iii. No Property, Plant and Equipment is revalued by company during the year.
iv. No Intangible asset is revalued by company during the year.
v. No Loans or Advances are granted to promoters, directors, KMPs and the related parties during the year.
vi. The company does not hold any benami property at any point of time during the year & hence no proceedings have been initiated or
pending in this respect against the company.
vii. Quarterly returns or statement of current assets filed by the company with Banks & Financial Institutions w.r.t borrowings taken are
in agreement with the books of accounts. Further, there is no discrepancy during the year.
viii. The company is not a wilful defaulter declared by any bank or financial institution or any lender.
ix. The company has no transactions with any company whose name has been struck off under section 248 of Companies act,2013 or
Section 560 of Companies act,1956.
x. Filings w.r.t registration of charges and satisfaction of same have been filed within due statutory time limits. Also, no filings are yet to
be filed with ROC beyond the statutory period.
xi. The Company have not traded or invested in crypto currency or virtual currency during the financial year.
xii. Section 2(87) of the Companies Act read with Companies (Restriction on number of Layers) Rules, 2017 is not applicable to company.
xiii. The company has not entered into any arrangements in terms of section 230 to 237 of Companies act ,2013.
xiv. The Company has not paid /received any fund from/to any other person or entity with the understanding that the Intermediary or
Company shall.
a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the
company/funding party (Ultimate Beneficiaries)
b) provide any guarantee, security, or the like to or on behalf of the Ultimate Beneficiaries.

01 CORPORATE
STATEMENT

xv. The company have not any such transactions which is not recorded in the books of accounts that has been surrendered or disclosed
as income during the year in the tax assessments under the Income tax act 1961(such as, search or survey or any other relevant
provisions of the Income Tax Act,1961).
xvi. Pursuant to RBI circular dated November 12, 2021, “Prudential norms on Income Recognition, Asset classification and provisioning
pertaining to Advances -clarifications,” the company has taken necessary steps and complied with the provisions of the circular for
regulatory reporting, as applicable. The financial Statements for they year ended March 31, 2023, are prepared in accordance with the
applicable IND-AS guidelines and the RBI Circular dated March 13,2020- “Implementation of Indian Accounting Standards”.
xvii. Ratios-
(` in lakh)
Capital 31-03-2023
Equity 7,639.82
Intangible Assets 1.09
Deferred Tax Assets 675.85
Tier I Capital 6,962.88
ECL Provisions 160.00

Less: Specific Provisions 99.76
General Provisions (Tier II Capital) 60.24
Subordinated Debt 398.02
Total Tier II Capital 458.26
Total Capital 7,421.14
Risk Weighted Assets 23,967.77
Tier I Capital to RWA (%) 29.05%

Tier II Capital to RWA (%) 1.91%
Capital to RWA (%) 30.96%
Liquidity Coverage Ratio Normal Stressed

Outlows 2,329.94 2679.42741
Inflows 1,011.55 758.660001
Net Outflows 1,318.39 1920.76741
HQLA 5,858.13 5,858.13
LCR 4.44 3.05
For and on behalf of the board MONEYBOXX FINANCE LIMITED

DIN: 08021679 DIN: 03140334
Sd/- Sd/- Sd/-
M. No.: 016746 DIN: 00065603 M. No.: A36312
Place: New Delhi
Date: 27-05-2023

Corporate Office: 2 Floor, Vatika Business Centre,Vatika First India Place, M G Road, Gurgaon – 122002, Haryana
nd
Head Office: 411A, Kanakia Wallstreet, Chakala, Andheri Kurla Rd, Andheri (East), Mumbai – 400 093
Registered Office: 523-A, Somdutt Chamber-II 9, Bhikaji Cama Place New Delhi South Delhi, DL – 110066
www.moneyboxxfinance.com

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Moneyboxx Annual Report 2022 23

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DEEP ROOTS.

Statutory Reports `93.48 crore

43 Board’s Report Cumulative Equity Raised

78 Independent Auditors' Report Livelihoods impacted

The combined 80 years of rich experience

61,000+ 5,700+ 3,400

Moneyboxx contribution to United Nations Sustainable Development Goals

2 Moneyboxx Finance Ltd.

SDG SDG Goal Significance of the SDG for Key Outcomes

Our Value Creation Approach using the Six Capitals

Financial Intellectual Natural

Manufactured Human Social and

Integrated Report 2022-23 3

New-age, impact-focussed NBFC The driving force

4 Moneyboxx Finance Ltd.

Addressing the credit needs of the Underserved

Integrated Report 2022-23 5

OUR VISION OUR VALUES

Our Shareholding Pattern, March 31, 2023

Stability and Resilience – Stable and Diversified Presence

5.9 2.0 67.2 5.2 2.3 Rajasthan

6 Moneyboxx Finance Ltd.

On-ground team presence,

Robust and proven underwriting Tech-driven approach with digital

Integrated Report 2022-23 7

During the year, the Indian economy continued to show strong

The economy grew by 7.2% in FY23, underpinned by strong

MSMEs, the backbone of the Indian economy, are growing year

8 Moneyboxx Finance Ltd.

Moving ahead, the MSME sector is seen contributing 50% to

Funding India’s small entrepreneurs

We are dedicated to the vision of inclusivity and growth as we

Being socially responsible

Integrated Report 2022-23 9

We especially focus on borrowers in essential sectors and

from our lenders helps the organisation further our cause

10 Moneyboxx Finance Ltd.

With growing and continuous support from our lenders,

Integrated Report 2022-23 11

INPUTS OUR BUSINESS MODEL

Our business activities are designed to create value for and

Business Loans for 5

Manufactured Capital VISION VALUES

Intellectual Capital MISSION

(C-SAT) Customer satisfaction

12 Moneyboxx Finance Ltd.

Driving Increased Financial Inclusion Financial Capital

Integrated Report 2022-23 13

What matters to them How we engage with them What we deliver

SOCIETY AND COMMUNITY

Access to finance Interaction with key societal  esigning products to meet

Domain expertise Loan Relationship Officer Dedicated customer service

Career development opportunities Internal publications and circulars Employee well-being

14 Moneyboxx Finance Ltd.

Shareholder value creation Shareholder Meetings 

E fficient management of Periodic filings / meetings  dedicated communication team

Integrated Report 2022-23 15

Our Approach Addressing unmet credit needs of the underserved

16 Moneyboxx Finance Ltd.

Serving Micro & Small Enterprises

Access to finance Interaction with key societal esigning products to meet

Domain expertise Loan Relationship Officer Dedicated customer service

Career development opportunities Internal publications and circulars Employee well-being

Shareholder value creation Shareholder Meetings

E fficient management of Periodic filings / meetings dedicated communication team

Improving branch productivity • irect-to-customer: We follow a direct approach

E nhancement in customers and employees experience through Using analytics