Notes to the Standalone Financial Statements as at and for the year ended March 31, 2024
Notes to the Standalone Financial Statements as at and for the year ended March 31, 2024
20 Revenue from Operations
25 Other Expenses
(in Rupees million) Year ended March 31, 2023
(in Rupees million) Year ended March 31, 2023
Year ended March 31, 2024
Year ended March 31, 2024
Particulars
Particulars
Sale of services (Refer note 27) Income from rendering of services - Third party
Software maintenance charges Legal and professional fees Travelling and conveyance Communication charges Outsourced manpower cost
233 172 172 127
218 185 140 117
2,946 8,501 11,447
2,390 7,551 9,941
-
Related Party (Refer note 29)
Total Revenue from operations
55 38
86 36 49 32 37
Insurance
21 Other Income Interest on : -
Recruitment expenses
2
Repairs and maintenance - Computer
36 40
Facility management expenses
Intercompany loan (Refer note 29)* Unwinding of security deposits
2
4
Payment to auditors (Refer note 25.1 below) Rent, rates and taxes (Refer note below)
7
6
- -
11
11
10
100 149 172
Unwinding of guarantee fees
7
9
Fair value loss on derivatives Cost of delivery (Refer note 29) Provision for doubtful advances
-
Guarantee commission income
24 49 73
30
28
Fair value gain on derivative forward contracts
-
3
10 17
Foreign exchange gain, net
295
Membership and subscription charges Allowance for expected credit loss
20 32
Net gain on redemption of financial instruments Net gain on fair valuation of financial instruments Gain on sale of investment in subsidiary company
156
91 66
8 6
42 17
Corporate social responsibility (Refer note 41)
7
-
Miscellaneous expenses Total other expenses
138
134
Miscellaneous income Total other income
3
77
1,120
1,502
383
583
*Denotes amount less than C 1 million
25.1Payment to auditors : For statutory audit
6 0 1 7
5 0 1 6
22 Employee Benefits Expenses Salaries, wages and bonus
For tax audit*
8,199
6,734
For other services
Contribution to provident fund (Refer note 28)
208 179 258
164 139 228
Total payment to auditors
Gratuity expense (Refer note 28)
*Denotes amount less than C 1 million. Note:
Staff welfare expense
Total employee benefits expenses
8,844
7,265
The Company and all the Directors of the Company has received show cause notice as to why prosecution proceedings under the Income tax Act 1961 (Act) should not be initiated against them for delay in deposit of tax deducted at source ('TDS') of C 405 Million during FY 2019-20 (albeit the deposit of TDS was made with due interest for the delay without any intimation from the tax authorities). Detailed justification was provided against the said show cause notice to establish a reasonable cause for the delay in deposit of TDS. However, without acceptance/admission of guilt of offence under the provisions of the Act and to avoid litigation, the Company in its capacity and on behalf of all directors, has filed on December 7, 2022 an application for compounding of offence before the tax department. The total amount of C 85 million (March 31, 2023: C 80 million) is the estimated compounding fee for the Company and Directors, computed basis compounding guidelines under the Income-tax Act, 1961. 26 Exceptional Items Payable balances to subsidiaries written back (468) - Impairment in value of investments and recoverable from subsidiaries (Refer note below) (1) 368 Total exceptional items (469) 368 Note : During the year, the Company assessed the expected cash flows and the future plans of its subsidiary companies and accordingly, recorded/ (reversed) provision for impairment of investments, other receivable and outstanding loan balances to the extent of C 2 million (March 31, 2023 : C 124 million) in Theremin AI Solutions Private Limited, C (95) million (March 31, 2023 : C 109 million) in Eugenie Technologies Private Limited, C Nil (March 31, 2023 : C 16 million) in Analytics Vidhya Educon Private Limited, C 84 million (March 31, 2023 : C 119 million) in Senseforth AI Research Private Limited and C 6 million (March 31, 2023 : C Nil) in Fractal Alpha Private Limited.
23 Finance Costs Interest on : -
lease liabilities (Refer note 30)
16
39
-
others*
3
1
Total finance cost
19
40
*denotes amount less than C 1. million
24 Depreciation and Amortisation Expense Depreciation on property, plant and equipment (Refer note 3)
200 194
193 189
Depreciation on right-of-use assets (Refer note 4) Amortisation on intangible assets (Refer note 6) Total depreciation and amortisation expense
62
70
456
452
160
161
Fractal Analytics Limited | Annual Report 2023-24
Made with FlippingBook - PDF hosting