| 166 Annual Report | 2024-2025 Financials Arohan Financial Services Limited Notes to financial statements for the year ended March 31, 2025 (Contd.) (All amounts in ` lakhs unless otherwise stated) Note 8: Investments As at March 31, 2025 As at March 31, 2024 At amortised cost At fair value through profit and loss At fair value through other comprehensive income Total At amortised cost At fair value through profit and loss At fair value through other comprehensive income Total 1. Government securities a. Investment in dated G-sec 19,551.11 - - 19,551.11 - - - - b. Investment in T-bills 14,902.29 - - 14,902.29 - - - - 2. Equity instruments Unquoted equity instruments 50,000 (March 31, 2024: 50,000) equity shares in Alpha Micro Finance Consultant Private Limited of ₹ 10 each, fully paid-up. - 5.00 - 5.00 - - 5.00 5.00 3. Others Security receipts (*) 8,00,000 security receipts under Phoenix Trust-FY 2316 at face value ₹456/- each (March 31, 2024: 8,00,000 security receipts at face value of ₹ 706/- each) - 2,704.00 - 2,704.00 - 5,648.00 - 5,648.00 10,43,400 security receipts under Phoenix Trust-FY 2336 at face value ₹450/- each (March 31, 2024: 10,43,400 security receipts at face value of ₹ 717/- each) - 2,577.20 - 2,577.20 - 5,363.08 - 5,363.08 Gross investment 34,453.40 5,286.20 - 39,739.60 - 11,011.08 5.00 11,016.08 Less: Impairment loss allowance (#) - (3,405.00) - (3,405.00) (2,000.00) - (2,000.00) Net investment 34,453.40 1,881.20 - 36,334.60 - 9,011.08 5.00 9,016.08 Investments in India 34,453.40 5,286.20 - 39,739.60 - 11,011.08 5.00 11,016.08 Investments outside India - - - - - - - - Gross investment 34,453.40 5,286.20 - 39,739.60 - 11,011.08 5.00 11,016.08 Less: Impairment loss allowance (#) - (3,405.00) - (3,405.00) - (2,000.00) - (2,000.00) Net investment 34,453.40 1,881.20 - 36,334.60 - 9,011.08 5.00 9,016.08 (*) The Company has sold loans to an Asset Reconstruction Company (ARC) on June 28, 2023 and December 29, 2022 SRs were received as considerations for the transfer of loans. However, as the legal form of the asset has changed from loans to investments, it is accounted under investments. SRs have followed the same measurement/ classification approach and ECL has been recognised in a similar manner as applicable to the underlying loans. (#) Impairment allowance includes management overlay of ₹3,400.00 lakhs on security receipts as on March 31, 2025 (March 31, 2024: ₹2,000.00 lakhs), further ₹5.00 lakhs (March 31, 2024: nil) of impairment allowance made on unquoted equity instruments in Alpha Micro Finance Consultant Private Limited on the occasion of voluntary liquidation. Note: The security receipt Phoenix Trust-FY23-36 rated affirmed at “IND RR3” on a recovery rating scale issued by India Ratings & Research with report dated February 24, 2025 and for Phoenix Trust-FY23-16 which is downgraded to ‘IND RR3’ from ‘IND RR2’ with report dated February 24, 2025 (March 31, 2024: The security receipts are rated “IND RR2” and “IND RR3” on a recovery rating scale issued by India Ratings & Research with report dated February 28, 2024 and December 22, 2023 respectively).
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