Karnataka Bank Ltd. · NSE:KTKBANK
Karnataka Bank — The Karnataka Bank — Q1 FY22 Earnings Presentation
63 slides from Karnataka Bank's earnings presentation, Jul 27, 2021
Slide 1: Karnataka Bank Ltd. - Exchange filing cover letter
Xex Karnataka Bank Ltd. Your Family Bank, Across India Regd. & Head office Phone : 0824-2228222 P. B. No.599, Mahaveera Circle E-Mail : investor.grievance@ktkbank.com Kankanady Website : www.karnatakabank.com Mangaluru - 575 002 CIN : L85110KA1924PLC001128 SECRETARIAL D EPARTM ENT July 27, 2021 FTo
Slide 2: Analysis of Financial Results June 2021
Analysis of Financial Results June 2021
Slide 3: Table of contents
Table of contents 1 Company Overview 2 Financial Performance 3 Business Strategy 2
Slide 4: Highlights – Q1 FY22
Highlights – Q1 FY22 3 Months KPAs Q1 FY 22 Q4 FY 21 Q-o-Q Q1 FY 21 Y-o-Y (` crs) Turnover 1,28,006 1,27,349 0.52% 1,26,063 1.54% Asset size 86,506 85,581 1.08% 83,128 4.06% Operating profit 414.22 383.69 7.96% 677.04 -38.82% Net profit 106.08 31.36 238.27% 196.38 -45.98% Return on Asset 0.49% 0.15%
Slide 5: KBL – VIKAAS: Impact on Key Parameters
KBL – VIKAAS: Impact on Key Parameters (Standalone) June ‘21 March ‘21 March ‘20 March ‘19 March ‘18 PCR 72.24% 70.05% 64.70% 58.45% 54.56% PCR for NPAs of Rs 25 cr & above 93.66% 93.78% 75.25% 70.30% 60.57% CRAR 14.58% 14.85% 12.88% 13.54% 12.04% Operating Profit (in crore) 414.22 1,999.14 1,656.77
Slide 6: KBL – VIKAAS: Impact on Key Parameters
KBL – VIKAAS: Impact on Key Parameters (Standalone) June ‘21 March ‘21 March ‘20 March ‘19 March ‘18 CASA 30.82% 31.49% 28.91% 28.06% 27.98% Digital transactions 91.63% 90.66% 83.50% 77.86% 65.34% Retail: Mid Corporate: Large 52 : 34 : 14 53 : 34 : 13 45 : 29 : 26 43 : 27 : 30 45 : 28 : 27 Corporate
Slide 7: Company Overview
Company Overview 01 97 years of banking history with Pan-India presence. 02 Strong & Robust technology and digital platforms. 03 Satisfactory productivity & capital adequacy ratios. Experienced management team & Professional Board with 04 highest Standards of Corporate Governance. 05 Diversified cre
Slide 8: History
History Wholly owned non-financial subsidiary of the Bank, KBL Services Ltd, started its operation. Initiated Bank’s transformation journey KBL-VIKAAS Digital journey for retail loan products Bonus issue in the ratio of 1:10 2017-21 Successful migration to Fin10 Customer base crossed the
Slide 9: Evolution
Evolution • Business Turnover of ` 1,28,006 crore for the quarter ended 30.06.2021. ` 1,28,006 Cr business • 2,318 service outlets with 858 branches, turnover one Extension Counter, 981 ATMs and 478 recyclers in 554 centres across India as on 2,318 30.06.2021. All 36 e-Lobbies & 427 mini e- Outlets
Slide 10: Pan-India footprint
Pan-India footprint Area wise distribution of Branches Metro Urban Semi Urban Rural 21 7 2 4 8 23% 1 28% 9 10 1 2 3 16 7 20 5 23% 8 51 26% 25 17 25 7 41 538 1 Branches ATMs Recyclers 50 21 1024 1200 1001 981 858 858 858 1000 Has the strongest presence in South India 800 461 477 478 with 676 branches
Slide 11: Robust technology and digital platforms
Robust technology and digital platforms Strong technology platform Digital sanction of Home The existing “ISO 27001:2013” certificate encompassing loans, Personal loans, Car the Information Security Management System (ISMS) at loans, 2-wheeler loans & the Bank’s Data Centre, Near line Site [NLS] and
Slide 12: KBL-DCoE: Accelerating Digital Transformation Catalyst
KBL- DCoE DCoE : Accelerating Digital Transformation Catalyst C: Cost Optimization A: Adoption R : Risk Profile E : Experience 11
Slide 13: Effective Risk management systems
Effective Risk management systems 1 Periodical monitoring & reviewing of risk profile of the Bank. Internal Credit Rating of all the borrowers: Credit exposure above INR 25 lakh are rated borrower-wise and 2 credit facilities below INR 25 lakh & all schematic advances including agri-credit proposals
Slide 14: Financial Performance
Financial Performance 13 13
Slide 15: Financial strength of the Bank
Financial strength of the Bank Networth (` crs) 6,356 6,642 6,748 6000 5000 4000 6,045 6,331 6,437 3000 2000 1000 311 311 311 0 Jun'20 Mar '21 Jun '21 Capital Reserves 14
Slide 16: Income & Profit - Quarterly
Income & Profit - Quarterly Net Income (` crs) Operating and Net Profit (` crs) 1200 1,054 677 1000 832 811 700 800 519 600 236 384 414 600 373 500 400 400 196 300 535 575 106 200 459 200 31 100 0 Jun'20 Mar '21 Jun '21 0 Jun'20 Mar '21 Jun '21 Net Interest Income Other Income Total Income Operating
Slide 17: Return and Capital Adequacy Ratios
Return and Capital Adequacy Ratios Return on Equity (%) (after tax) Return on Assets (%) (after tax) 14.00% 12.75% 1.00% 0.93% 0.90% 12.00% 0.80% 10.00% 0.70% 7.65% 0.57% 8.00% 0.60% 6.34% 0.49% 6.00% 0.50% 0.40% 4.00% 0.30% 2.00% 0.20% 0.00% 0.10% Jun'20 Mar '21 Jun '21 0.00% Jun'20 Mar '21 Jun '21
Slide 18: Productivity ratios
Productivity ratios Operating Profit per employee (` lakh) * Operating Profit per branch (` lakh) * 32.11 315.64 35 30 23.74 350 19.92 300 233.00 25 193.12 20 250 15 200 10 150 5 100 0 50 Jun'20 Mar '21 Jun '21 * annualized 0 Jun'20 Mar '21 Jun '21 Business per employee (` crs) Business per branch (
Slide 19: Provisions
Provisions Provisions & Contingencies Provision Coverage Ratio Investments Others 100% 3.33% 0.31% 90% Tax 80% -19.45% 70.05% 72.24% 67.93% 70% NPA 74.80% 60% 50% Standard 40% Advances Jun'20 Mar '21 Jun'21 34.13% Segment wise PCR (Jun’21) Fair Value 100% 6.87% 90% 80% 70% 60% As on 30.06.2021 No. o
Slide 20: Business size
Business size Business Turnover (` crs) 1,26,063 1,27,349 1,28,006 120000 51,694 51,791 54,209 100000 80000 60000 75,655 76,215 71,854 40000 20000 0 Jun'20 Mar '21 Jun '21 Deposits Advances 19
Slide 21: Deposits
Deposits Deposits (` crs) 16% Growth rate (y-o-y) 14% 12% 71,854 75,655 76,215 10% 14.06% 14.80% 0.03% 0.01% 0.01% 8% 9.69% 6% 2.89% 6.07% 4% 5.39% 71.31% 68.50% 69.17% 4.86% 1.65% 3.55% 2% 0% CASA deposit Retail term deposit Total deposit 28.66% 31.49% 30.82% Jun'20 Mar '21 Jun '21 Jun'20 Mar '21 J
Slide 22: Deposits
Deposits NRI Deposits (` crs) 5000 7% NRI 4,448 4,418 4,472 4500 deposits 6% 4000 5.87% 6.19% 3500 5.84% 5.87% 5% 3000 4% 2500 3% 2000 1500 2% 1000 Domestic 500 1% deposits 0 0% 94.13% Jun'20 Mar '21 Jun '21 Amount % to total deposits 21
Slide 23: Advances
Advances Growth rate (y-o-y) Advances [Net] (` crs) 27.00% 54,209 51,694 51,791 17.00% 16.08% 6.91% 9.03% Corporate 2.63% 5.99% 13.22% 14.30% 7.00% 21.38% Advances 4.55% 4.49% 33.79% 33.48% -3.00% Retail advances Mid Corporate Total Advances 30.73% advances -19.64% -9.25% -4.46% -13.00% -35.88% 47.8
Slide 24: Top Credit Sectors
Top Credit Sectors Position As on 30.06.2021 (` crs) NPA SMA 2 # Sectors Total Balance % to GBC % to % to O/S Amount sector Amount sector GBC GBC MSME 16,470.68 31.13 1,085.99 6.59 731.93 4.44 Housing Loans (Residential Mortgage) 8,690.95 16.43 299.91 3.45 272.23 3.13 Agriculture 8,931.33 * 16.88 58
Slide 25: Advances under GECL
Advances under GECL Advances under GECL (1.0 & 2.0) as on 30.06.2021 SMA1 * SMA2 * Amount No. of Accounts % to GBC (Amount in crore (Amount in crore (Bal. o/s in crore) & %) & %) 1.97 1.30 9,571 2,233.98 4.22% 0.09% 0.06% * Including main and related accounts and both less than ` 5 crore & more than
Slide 26: Restructured loans & related accounts
Restructured loans & related accounts (` crs) Q1FY21 Q2FY21 Q3FY21 Q4FY21 FY21 Q1FY22 2,685 Opening balance 536.49 601.28 644.57 689.80 536.49 1,738.41 Of which, NPA Addition 102.15 77.59 86.22 1100.54 1366.50 1,035.97 Related a/cs Reduction 37.36 34.30 40.99 51.93 164.58 89.33 586 Restructured loan
Slide 27: External rating wise Advances
External rating wise Advances External rating wise Credit Portfolio as of Jun’21 Of which, NPA SMA2 Restructured book No of Balance O/s Rating Borrowers % to GBC no. of no. of Bal o/s no. of Bal o/s % share to (in cr) Bal o/s (cr) borrowers borrowers (cr) borrowers (cr) Std. Adv. * AAA 12 (21) 3,031
Slide 28: NBFC portfolio
NBFC portfolio NBFC Portfolio as of Jun ‘21 [ Figures in brackets – as of Jun ‘20] * Under respective rating category Of which, NPA SMA2 Restructured book No of Balance O/s Rating % to GBC no. of no. of Bal o/s no. of Bal o/s % share to Borrowers (in cr) Bal o/s (cr) borrowers borrowers (cr) borrowe
Slide 29: Top 50 borrowers
Top 50 borrowers Top 50 borrowers as of Jun ‘21 [ Figures in brackets – as of Jun‘20] * Under respective rating category Of which, NPA SMA2 Restructured book No of Balance O/s Rating % to GBC no. of no. of Bal o/s no. of Bal o/s % share to Borrowers (in cr) Bal o/s (cr) borrowers borrowers (cr) borr
Slide 30: Advances to Priority sectors
Advances to Priority sectors Priority Sector Advances (` crs) Agriculture Advances (` crs) 60% 35000 52.83% 21% 9,071 10000 48.13% 28,617 28,693 30000 8,568 8,931 50% 44.17% 19% 18.38% 17.64% 9000 25,094 48.93% 7,082 8000 21,878 46.58% 25000 17% 6,583 6,878 40% 20,594 7000 43.89% 15% 17,239 20000 15
Slide 31: CD Ratio & Yield on Advances
CD Ratio & Yield on Advances Credit Deposit ratio (%) CD Ratio Incremental CD Ratio [Annual] 75.44% 100% 68.33% 67.95% 80% 41.72% 60% 40% 20% 0% -20% Jun'20 Mar'21 Jun'21 -40% -60% -55.46% -80% Yield on Advances & Interest Spread (%) -100% -136.20% Yield on advances Interest spread 9.33% 9.05% 8.93%
Slide 32: Asset Quality
Asset Quality Gross NPAs (` crs) Net NPAs (` crs) 4.91% 6% 4.82% 3000 3.50% 3.01% 3.18% 3.00% 1800 4.64% 1600 5% 2500 3.00% 1400 2.50% 2,549 4% 2000 2,588 1200 1,553 2.00% 2,558 3% 1500 1000 1,631 1,642 1.50% 800 2% 1000 600 1.00% 1% 500 400 0.50% 200 0% 0 0.00% 0 Jun'20 Mar'21 Jun'21 Jun'20 Mar'21
Slide 33: Asset Quality
Asset Quality Composition of NPA Size wise NPA Above Rs 50 Cr Loss 2.01% Assets (0.65%) 2.69% Rs 5 Cr to Sub Rs 50 Cr Standard Upto Rs 1 23.36% 39.39% (4.82%) Cr Doubtful 48.80% 57.92% (5.35%) Rs 1 Cr to Rs 5 Cr 25.83% (7.13%) Credit portfolio wise NPA Corporates (>100 crore) 0% (0%) Mid Corporate (
Slide 34: Asset Quality
Asset Quality (` crs) Q1FY20 Q2FY20 Q3FY20 Q4FY20 FY20 Q1FY21 Q2FY21 Q3FY21 Q4FY21 FY21 Q1FY22 Opening GNPA 2456.38 2437.53 2594.27 2777.46 2456.38 2799.93 2557.64 2188.80 1706.57 2799.93 2588.41 Addition 526.02 530.95 637.54 304.07 1998.58 166.84 2.21 1.40 1175.92 1346.37 414.24 Fresh slippages 525
Slide 35: Asset Quality
Asset Quality Top 25 NPA accounts & provisions held thereon (Jun ‘21) NPA Classification No. of Borrowers Net Balance Provision Held Provision % SS 4 (9) 61.02 (525.24) 9.23 (87.69) 15.13 (16.70) DS1 10 (11) 238.37 (410.04) 153.69(189.84) 64.48 (46.30) DS2 10 (3) 238.21 (87.98) 153.08 (49.24) 64.26
Slide 36: SMA accounts
SMA accounts SMA2 (` crs) SMA1 (` crs) 4.50% 4.24% 2500 6.00% 3000 4.00% 4.93% 3.50% 2000 5.00% 2500 4.14% 3.00% 2.64% 4.00% 2000 1500 2,246 2.50% * 3.00% 1500 2,181 2.00% 2,608 1000 1.50% 1,393 2.00% 1000 1.00% 0.80% 500 0.89% ** 1.00% 500 443 0.50% 489 0.00% 0 0.00% 0 Jun '20 Mar '21 Jun '21 * Jun
Slide 37: Investments
Investments AFS Investments [excl. RIDF] (` crs) 26.22% 23,301 21,635 25000 18,277 HFT 0.02% 20000 HTM 15000 73.76% 10000 5000 Duration 0 Jun'20 Mar'21 Jun'21 AFS HFT HTM TOTAL 2.83 4.09 5.78 5.07 Yield on Investments (%) 7% 6.14% 6.02% 5.81% Liquidity Coverage Ratio 6% 5% 350% 317.92% 311.35% 4% 30
Slide 38: Topline numbers
Topline numbers Q-o-Q Y-o-Y ` crs Jun-21 Mar-21 variation Jun-20 variation Total Deposits 76,215 75,655 0.74% 71,854 6.07% CASA Deposits 23,490 23,823 -1.40% 20,594 14.06% Retail Deposits 52,720 51,822 1.73% 51,241 2.89% Wholesale Deposits 5 10 -52.42% 19 -75.42% Total Advances 51,791 51,694 0.19% 5
Slide 39: Headline numbers
Headline numbers ` crs Jun-21 Mar-21 Q-o-Q Jun-20 Y-o-Y [3 months] [3 months] variation [3 months] variation Interest Income 1,524 1,417 7.48% 1,616 -5.71% Interest Expense 949 958 -1.01% 1,081 -12.20% Net Interest Income 575 459 25.19% 535 7.41% Fee Income 211 349 -39.64% 164 28.73% Treasury Income
Slide 40: Headline numbers
Headline numbers ` crs Jun-21 Mar-21 Q-o-Q Jun-20 Y-o-Y [3 months] [3 months] variation (%) [3 months] variation (%) Interest Income Interest Income 1,524 1,417 7.48% 1,616 -5.71% Interest on Advances 1,161 1,073 8.22% 1,299 -10.58% Interest on Investments 317 303 4.56% 278 14.00% Other interest 46
Slide 41: Capital Adequacy
Capital Adequacy Risk Weighted Assets RS IN CRS 30.06.2021 31.03.2021 30.06.2020 52,187 49,760 51,062 Risk Weighted Assets 51,061.91 49,759.61 52,186.81 10.38% 10.89% 11.30% 4.11% 6.34% 6.89% Total Capital Fund (Basel III) 7,445.16 7,387.05 6,822.31 Total Tier I Capital 6,178.00 6,140.39 5,778.58 85
Slide 42: Share holders’ value
Share holders’ value Share holding pattern (Jun ‘21) Earning Per Share (`) Others 15.52 Indian Public 4.82% 20 79.34% 15 Banks, FIs, MF, Insurance 6.32 10 Cos 3.41 5.84% 5 0 Foreign Jun '20 * Mar'21 Jun '21 * Portfolio * Not annualized Investors 9.99% Book value (`) Dividend 213.67 * 217.07 35% 192.
Slide 43: Digital capabilities
Digital capabilities Migration to Digital Channel [share of ADC transactions to total CBS transactions] 91.63% 100% 90.66% 83.50% 90% 77.86% Digital Adoption 80% 65.34% Jun ’21 70% 8.4% 53.06% 3.6% 60% 9.3% 50% 7.6% 4.4% 40% 9.0% 30% Mar’21 20% 10% 77.3% 0% Mar '17 Mar '18 Mar '19 Mar '20 Mar '21 Ju
Slide 44: Mobile Banking
Mobile Banking No. of Regd users (Actuals as at the end of the quarter) 13,66,082 12,60,932 11,36,380 9,95,370 8,37,756 Jun-20 Sep-20 Dec-20 Mar-21 Jun-21 Value of transactions during the quarter No. of transactions during the quarter 95.8 84.0 81.5 64 72.3 58 55 49 48.4 8,626 5,748 7,772 5,336 7,41
Slide 45: Debit cards Penetration
Debit Cards Position during the quarter Debit cards Penetration 88.42% 86.88% 86.25% 86.20% 50.34 85.43% 50.09 49.90 49.21 47.75 Jun-20 Sep-20 Dec-20 Mar-21 Jun-21 Total cards issued (Lakhs) Penetration (%) Total ATM transactions by our Debit Card holders Cards Usage 115 102 96 87 69 88 78 85 76 56
Slide 46: UPI transactions
UPI transactions Position during the quarter BHIM KBL UPI Txns count 1,225 1,374 1,331 807 1,23,647 1,12,709 121076 621 74,280 57,147 Jun-20 Sep-20 Dec-20 Mar-21 Jun-21 No. of Transactions (in 000's) Avg. Transactions per day (in 000's) 261.1 262.6 BHIM KBL UPI Txn Value 230.0 155.0 23,896 23,501 11
Slide 47: POS & ECOM transactions
POS & ECOM transactions Position during the quarter 66 9.4 61 9.0 POS Transactions 50 6.8 42 6.2 33 5.0 847 5,895 810 5,607 4,597 625 563 3,790 2,980 410 Jun-20 Sep-20 Dec-20 Mar-21 Jun-21 Jun-20 Sep-20 Dec-20 Mar-21 Jun-21 No. of Txn ('000s) Avg per day ('000s) Value of Txn (Crore) Avg per day (Cro
Slide 48: KBL-Vikaas – Bank’s Transformation Journey
KBL-Vikaas – Bank’s Transformation Journey DCoE : Accelerating Digital & Transformation Outcomes: New Digital Innovation: Adoption : Accelerating Digital Xpress Loan share: Risk Reduction: Improving Asset Quality (> Cibil V3 701 Score portfolio): 47
Slide 49: Strong foundation of digital capabilities and enablers
Strong foundation of digital capabilities and enablers Internet Banking KBL BHIM UPI KBL- mPassBook Mobile Banking Xpress Home Loan Xpress Car Loan Xpress Cash Loan Xpress MSME Xpress SB Digital MF Term loan CV loan DhIRA XeD ABCD Smart Trade X-PAWS 48
Slide 50: Sustainability driven by Digital Tools
Sustainability driven by Digital Tools Sales and Other management tools Document Management Lead Management Collection activities E-Connect NPA Management e –Ticket System System Loan Payment tool Management Portal System Performance management and review tools Digital calling tool Automated Busines
Slide 51: Xpress Analytics: ABCD and X-PAWS
Xpress Analytics Annual Branch Customer Dashboard Xpress Profile for Wallet Share (ABCD) X-PAWS (XPAWS) Accelerating Quality Growth Information on branch finger tips • Customer Profile & Segment • ADC Adoption & Usage • Products & Services Usage • Re-KYC and Contactability • CASA Share • ADC Adoptio
Slide 52: Business Strategy
Business Strategy Co i 51
Slide 53: Corporate Goal for 2021-22
Corporate Goal for 2021-22 Risk Management Dept to be covered under 10 Further ‘QMSS-ISO 9001’ strengthening of 09 sales verticals On-boarding 2nd vendor for Contact Construction of an Centre activities 08 iconic building ‘KBL 07 Centenary Tower’ Setting up of ACoE 06 (Analytical Centre of Excellenc
Slide 54: Roadmap – Upcoming Lanes
Roadmap – Upcoming Lanes • Retail/Mortgage Loan Digitisation of New Products ( Mortgage OD etc ) Xpress • End to End Digi Journey Enhancements ie Valuation, Legal & BIR Automation. Journey • KBL Xpress Current Account digital Journey Digital • Customer Relationship Management (CRM ) & Campaign Autom
Slide 55: Business Strategy
Business Strategy CASA deposits Digital Banking initiatives Focusing on customer onboarding to Focusing on digital marketing of Bank’s increase CASA as well as cross selling products & services RSE approach to CASA marketing. Digital loan sanctions for HL, PL, Auto SB account opening throu
Slide 56: Corporate Social Responsibility
Corporate Social Responsibility Solar roof-top photovoltaic system installed at the campus of Poornaprajna Institute of Scientific Research, Devanahalli, Bengaluru. Ventilator donated to Tatwadarsha Hospital, Hubballi. 55
Slide 57: Board of Directors
Board of Directors P Jayarama Bhat Mahabaleshwara M S Non Executive Chairman Managing Director & CEO Mrs Mythily Ramesh, Rammohan Rao Belle Keshav Krishnarao Desai Bengaluru Bengaluru Hubballi Former MD & CEO, SBI Gen. Businessman IT Professional and Co-Founder & Insu. Co. Ltd CEO of NextWealth B R
Slide 58: Thank You
WE EXPRESS OUR HEARTFELT GRATITUDE TO ALL OUR STAKE HOLDERS FOR THEIR TRUST & SUPPORT AND SOLICIT THEIR CONTINUED PATRONAGE, AS WE CONTINUE OUR JOURNEY WITH RENEWED DEDICATION & Thank You COMMITMENT TO MAKE OUR BELOVED KARNATAKA BANK “A DIGITAL BANK OF THE FUTURE”. 57
Slide 59: Disclaimer
Disclaimer This presentation has been prepared by Karnataka Bank (the “Bank”) solely for providing information about the Bank. This presentation is confidential and may not be copied or disseminated, in whole or part, in any manner. This presentation has been prepared by the Bank based on informatio
Slide 60: Letter to Shareholders
Karnataka Bank Ltd. Your Family Bank, Across India Regd. & Head Office Phone : 0824-2228222 Post Box. No.599, Mahaveera Circle E-Mail : investor.grievance@ktkbank.com Kankanady Website : www.karnatakabank.com Mangaluru – 575 002 CIN : L85110KA1924PLC001128 Date: July 27, 2021 Dear Shareholders, Gree
Slide 61: 3 Months ended June – key parameters
3 Months ended Y-o-Y Sl Parameters June March Variation June Variation no. 2021 2021 (% or BPS) 2020 (% or BPS) 16. Net NPA (NNPA) (%) 3.00% 3.18% -18bps 3.01% -1bps 17. Slippage ratio (%) 0.83% 2.25% -142bps 0.30% +53bps 18. Credit Cost (%) 0.45% 0.67% -22bps 0.45% No variations 19. Cost to income
Slide 62: Shareholder letter: digital underwriting and KBL Services
1. Digital Underwriting of Retail Loans: Powered by ‘KBL VIKAAS’, Bank has already launched digital loan underwriting (in-principle approvals) for most of its retail loan products. Today, your Bank has a bouquet of digital asset and liability offerings providing superior customer experience. The ado
Slide 63: e-AGM notice and closing remarks
Further, the 97th e-Annual General Meeting (e-AGM) is scheduled to be held on September 2, 2021 and you will receive links to download the Notice and the Annual Report in few days. The cut-off date for voting is fixed as August 20, 2021 and the e-Voting begins on August 27, 2021 at 9.00AM and e-voti