Secretarial Department

 

SD/LSE/50/2026-27                                                                                                         08.05.2026

 

                                              

To

The London Stock Exchange

10 Paternoster Square

London

 

Dear Sir,

 

We enclose herewith the Audited Standalone and Consolidated Financial Results of the Bank for the for the year ended March 31, 2026, which was approved at the Bank's Board of Directors meeting held April 29, 2026.

 

 

Kindly take the same on your record.

 

 

 

For The Federal Bank Limited

 

 

 

Samir P Rajdev

Company Secretary

 

 

 

 

 

 

M S K A & Associates	Suri & Co
602, Floor 6, Raheja Titanium	Guna Complex, No.443 & 445,
Western Express Highway, Geetanjali,	4th Floor Main Building,
Railway Colony, Ram Nagar, Goregaon (E),	Anna Salai, Teynampet,
Mumbai 400 063.	Chennai  600 018.

 

Independent Auditor's Report on the Standalone Financial Results for the year ended March 31, 2026 of The Federal Bank Limited pursuant to the Regulation 33 and Regulation 52 read with Regulation 63(2) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.

 

The Board of Directors

The Federal Bank Limited

 

Report on the Audit of the Standalone Financial Results

 

Opinion

 

We have audited the accompanying Standalone Financial Results of The Federal Bank Limited ("the Bank") for the year ended March 31, 2026 ("the Statement"), being submitted by the Bank pursuant to the requirement of Regulation 33 and Regulation 52 read with Regulation 63(2) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("the Listing Regulations") except for the disclosures relating to Pillar 3 as at March 31, 2026, including leverage ratio, liquidity coverage ratio and net stable funding ratio under Basel III Capital Regulations as have been disclosed on the Bank's website and in respect of which a link has been provided in Note 8 to the Statement and have not been audited by us.

 

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid Statement:

i.   is presented in accordance with the requirements of the Listing Regulations in this regard except for the disclosures relating to Pillar 3 as at March 31, 2026, including leverage ratio, liquidity coverage ratio and net stable funding ratio under Basel III Capital Regulations as have been disclosed on the Bank's website and in respect of which a link has been provided in Note 8 to the Statement and have not been audited by us; and

 

ii.  gives a true and fair view, in conformity with the recognition and measurement principles laid down in the applicable accounting standards prescribed under Section 133 of the Companies Act, 2013 ("the Act") read with Companies ( Accounting Standards) Rules, 2021, as amended to the extent applicable, the relevant provisions of the Banking Regulation Act, 1949 ("the Banking Regulations"), the circulars, guidelines and directions issued by the Reserve Bank of India ("the RBI") from time to time ("the RBI Guidelines") and other accounting principles generally accepted in India of the net profit_, and other financial information of the Bank for the year ended March 31, 2026.

 

Basis for Opinion

We have conducted our audit in accordance with the Standards on Auditing ('SAs') specified under section 143(10) of the Act and other applicable authoritative pronouncements issued by the Institute of Chartered Accountants of India ("the ICAI"). Our responsibilities under those SAs are further described in the Auditors' Responsibilities for the Audit of the Standalone Financial Results section of our report. We are independent of the Bank in accordance with the Code of Ethics issued by the ICAI together with the ethical requirements that are relevant to our audit of the Statement, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence obtained by us, is sufficient and appropriate to provide a basis for our opinion.

 

Management and Board of Directors' Responsibilities for the Standalone Financial Results

 

The Statement which is the responsibility of the Bank's Management and approved by the Board of Directors, has been compiled from the Standalone Audited Financial Statements. The Bank's Board of Directors are responsible for the preparation of the Statement that gives a true and fair view of the net profit and other financial information of the Bank in accordance with recognition and measurement principles laid down in the applicable Accounting Standards specified under section 133 of the Act read with Companies (Accounting Standards) Rules, 2021, as amended to the extent applicable, the relevant provisions of the Banking Regulations, the RBI Guidelines and other accounting principles generally accepted in India and in compliance with the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act, the Banking Regulations and the RBI Guidelines for safeguarding of the assets of the Bank and for preventing and detecting frauds and other irregularities; selection and application of appropriate significant accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Statement that give a true and fair view and are free from material misstatement, whether due to fraud or error.

 

In preparing the Statement, the Board of Directors of the Bank are responsible for assessing the Bank's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Bank or to cease operations, or has no realistic alternative but to do so.

 

The Board of Directors are also responsible for overseeing the Bank's financial reporting process.

 

Auditors' Responsibilities for the Audit of the Standalone Financial Results

 

Our objectives are to obtain reasonable assurance about whether the Statement as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditors' report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of this Statement.

 

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

 

·    Identify and assess the risks of material misstatement of the Statement, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

·    Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3)(i) of the Act, we are also responsible for expressing our opinion on whether the Bank has adequate internal financial controls with reference to Standalone Financial Statement in place and the operating effectiveness of such controls.

·    Evaluate the appropriateness of significant accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors.   

·    Conclude on the appropriateness of the Board of Directors use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the ability of the Bank's to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditors' report to the related disclosures in the Statement or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditors' report. However, future events or conditions may cause the Bank to cease to continue as a going concern.

·    Evaluate the overall presentation, structure and content of the Statement, including the disclosures, and whether the Statement represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

 

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

 

Other Matter

 

The Statement includes the results for the quarter ended March 31, 2026, being the balancing figure between the audited figures in respect of the full financial year and the published unaudited year to date figures up to the third quarter of the current financial year prepared in accordance with the Accounting Standard 25 "Interim Financial Reporting" which were subject to limited review by us.

 

Our opinion on the statement is not modified in respect of the above matter.

 

For M S K A & Associates LLP (Formerly Known as M S K A & Associates)	For Suri & Co Chartered Accountants
Chartered Accountants	ICAI Firm Registration Number: 004283S
ICAI Firm Registration Number: 105047W/W101187
Prateek Khandelwal	Sanjeev Aditya M
Partner	Partner
Membership Number: 139144	Membership Number: 229694
UDIN: 26139144RZRYMK6854	UDIN: 26229694ENNDTV2238
Mumbai	Mumbai
April 29, 2026	April 29, 2026

       

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

M S K A & Associates	Suri & Co
602, Floor 6, Raheja Titanium	Guna Complex, No.443 & 445,
Western Express Highway, Geetanjali,	4th Floor Main Building,
Railway Colony, Ram Nagar, Goregaon (E),	Anna Salai, Teynampet,
Mumbai 400 063.	Chennai  600 018.

 

Independent Auditor's Report on the Consolidated Financial Results for the year ended March 31, 2026 of The Federal Bank Limited pursuant to the Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.

 

The Board of Directors

The Federal Bank Limited

        

Report on the Audit of the Consolidated Financial Results 

 

Opinion

 

We have audited the accompanying Consolidated Financial Results of The Federal Bank Limited ("the Bank") and its subsidiaries (the Bank and its subsidiaries together referred to as "the Group") and its associate for the year ended March 31, 2026 ("the Statement"), being submitted by the Bank pursuant to the requirements of Regulation 33 of the Securities and Exchange Board of India ("the SEBI") (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("the Listing Regulations") except, for the disclosures relating to consolidated Pillar 3 as at March 31, 2026, including leverage ratio, liquidity coverage ratio and net stable funding ratio under Basel III Capital Regulations as have been disclosed on the Bank's website and in respect of which a link has been provided in Note 7 to the Statement and have not been audited by us.

 

In our opinion and to the best of our information and according to the explanations given to us and based on the consideration of the reports of the other auditors on separate audited financial results of the two subsidiaries and its associate, the aforesaid Statement:      

 

a)  includes the annual financial results of the Bank and the following entities :-

 

Sr. No	Name of the Entity	Relationship with the Bank
a.	Fedbank Financial Services Limited	Subsidiary
b.	Federal Operations and Services Limited	Subsidiary
c.	Ageas Federal Life Insurance Company Limited	Associate

 

b)  is presented in accordance with the requirements of the Listing Regulations in this regard except for the disclosures relating to consolidated Pillar 3 as at March 31, 2026, including leverage ratio, liquidity coverage ratio and net stable funding ratio under Basel III Capital Regulations as have been disclosed on the Bank's website and in respect of which a link has been provided in Note 7 to the Statement and have not been audited by us; and

 

c)  gives a true and fair view in conformity with applicable accounting standards prescribed under Section 133 of the Companies Act, 2013 ("the Act"), read with Companies (Accounting Standards) Rules, 2021, to the extent applicable, the relevant provisions of the Banking Regulation Act, 1949 ("the Banking Regulations"), the circulars, guidelines and directions issued by the Reserve Bank of India ("the RBI") from time to time ("the RBI Guidelines") and other accounting principles generally accepted in India of the consolidated net profit and other financial information of the Group and its associate for the year ended March 31, 2026.

 

Basis for Opinion

 

We conducted our audit in accordance with the Standards on Auditing ('SAs') specified under section 143(10) of the Act and other applicable authoritative pronouncements issued by the Institute of Chartered Accountants of India ("the ICAI"). Our responsibilities under those SAs are further described in the Auditors' Responsibilities for the Audit of the Consolidated Financial Results section of our report. We are independent of the Group and its associate in accordance with the Code of Ethics issued by the ICAI together with the ethical requirements that are relevant to our audit of the Statement, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics.

 

We believe that the audit evidence obtained by us and other auditors in terms of their reports referred to in "Other Matters" paragraph below, is sufficient and appropriate to provide a basis for our opinion.

 

Management and Board of Directors' Responsibility for the Consolidated Financial Results 

 

The Statement which is the responsibility of the Bank's Management and approved by the Board of Directors, has been compiled from the Consolidated Audited Financial Statements. The Bank's Board of Directors are responsible for the preparation and presentation of the Statement that gives a true and fair view of the net profit and other financial information of the Group including its associate in accordance with the Accounting Standards specified under Section 133 of the Act read with Companies (Accounting Standards) Rules, 2021, to the extent applicable, the relevant provisions of the Banking Regulations, the RBI Guidelines and other accounting principles generally accepted in India and in compliance with  the Listing Regulations. The respective Board of Directors of the entities included in the Group and of its associate are responsible for maintenance of adequate accounting records in accordance with the provisions of the Act, the Banking Regulations and the RBI Guidelines for safeguarding of the assets of the Group and of its associate and for preventing and detecting frauds and other irregularities; selection and application of appropriate significant accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Statement that give a true and fair view and are free from material misstatement, whether due to fraud or error which have been used for the purpose of preparation of the Statement by the Board of Directors of the Bank, as aforesaid.

 

In preparing the Statement, the respective Board of Directors of the entities included in the Group and of its associate are responsible for assessing the ability of the Group and of its associate to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Group and of its associate or to cease operations, or has no realistic alternative but to do so.

 

The respective Board of Directors of the entities included in the Group and of its associate are responsible for overseeing the financial reporting process of the Group and of its associate. 

 

Auditors' Responsibilities for the Audit of the Consolidated Financial Results

 

Our objectives are to obtain reasonable assurance about whether the Statement as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditors' report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of this Statement.

 

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

 

·    Identify and assess the risks of material misstatement of the Statement, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

·    Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3)(i) of the Act, we are also responsible for expressing our opinion on whether the Bank has adequate internal financial controls with reference to Consolidated Financial Statements in place and the operating effectiveness of such controls.

·    Evaluate the appropriateness of significant accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors.   

·    Conclude on the appropriateness of the Board of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the ability of the Group and of its associate to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditors' report to the related disclosures in the Statement or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditors' report. However, future events or conditions may cause the Group and of its associate to cease to continue as a going concern.

·    Evaluate the overall presentation, structure and content of the Statement, including the disclosures, and whether the Statement represent the underlying transactions and events in a manner that achieves fair presentation.

·    Obtain sufficient appropriate audit evidence regarding the financial information of the entities within the Group and of its associate to express an opinion on the Statement. We are responsible for the direction, supervision and performance of the audit of financial information of such entities included in the Statement of which we are the independent auditors. For the other entities included in the Statement, which have been audited by other auditors, such other auditors remain responsible for the direction, supervision and performance of the audits carried out by them. We remain solely responsible for our audit opinion.

 

We communicate with those charged with governance of the Bank and such other entities included in the Statement of which we are the independent auditors regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

 

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

 

We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33(8) of the Listing Regulations, as amended, to the extent applicable.

 

Other Matters:

 

a)   The Statement includes the Audited Financial Statements of two subsidiaries, whose Financial Statements reflect Group's share of total assets of Rs. 16,93,903 lakhs (before consolidation adjustments) as at March 31, 2026, Group's share of total revenue of Rs. 2,39,788 lakhs (before consolidation adjustments) and Group's share of total net profit after tax of Rs. 38,261 lakhs (before consolidation adjustments) for the year ended March 31, 2026, respectively and Group's net cash flow of Rs. 62,189 lakhs (before consolidation adjustments) for the year ended as on date, as considered in the Statement, which have been audited by their respective independent auditors. The independent auditors' reports on the Financial Statements of these entities have been furnished to us and our opinion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these entities, is based solely on the reports of such auditors.

 

b)   The Statement includes the Audited Financial Statement of associate, whose Financial Statement reflect Group's share of net profit after tax of Rs. 756 lakhs for the year ended March 31, 2026, as considered in the Statement. The independent auditors' report on the Financial Statement of this entity has been furnished to us and our opinion on the Statement, in so far as it relates to the amounts and disclosures included in respect of this entity, is based solely on the report of such auditors.

 

c)   The following other matter paragraph has been included in the Audit Report on the Financial Statement of Ageas Federal Life Insurance Company Limited ("the Company"), an associate of the Bank issued by their auditors vide their report dated April 24, 2026:

 

"The actuarial valuation of liabilities for life policies in force and for policies in respect of which premium has been discontinued, but liability exists and the determination of discontinuance charge to be deducted from the discontinued policies of linked business to be held as 'funds for future appropriations' until the exit of the policy due to expiry of revival period or due to death of the life assured or expiry of the lock in period as applicable , as at  March 31, 2026, is the responsibility of the Appointed Actuary of the Company (the 'Appointed Actuary'), which has been duly certified by Appointed Actuary. In the opinion of Appointed Actuary, the assumptions for such valuation are in accordance with the guidelines and norms issued by the IRDAI and the Institute of Actuaries of India, in concurrence with the IRDAI. We have relied upon the Appointed Actuary's certificate in this regard for forming our opinion on the valuation of liabilities for life policies in force and for policies in respect of which premium has been discontinued but liability exists in Financial Statements of the Company." Our opinion is not modified in respect of this matter.

 

d)   The Statement includes the results for the quarter ended March 31, 2026, being the balancing figure between the audited figures in respect of the full financial year and the published unaudited year to date figures up to the third quarter of the current financial year prepared in accordance with the Accounting Standard 25 "Interim Financial Reporting" which were subject to limited review by us.

 

Our opinion on the statement is not modified in respect of the above matters.

 

 

For M S K A & Associates LLP (Formerly Known as M S K A & Associates)	For Suri & Co Chartered Accountants
Chartered Accountants	ICAI Firm Registration Number: 004283S
ICAI Firm Registration Number: 105047W/W101187
Prateek Khandelwal	Sanjeev Aditya M
Partner	Partner
Membership Number: 139144	Membership Number: 229694
UDIN: 26139144HPRWDM2780	UDIN: 26229694EPMBNL6309
Mumbai	Mumbai
April 29, 2026	April 29, 2026