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
The transactions with related parties are made on terms equivalent to those that prevail in arm's length transactions. Outstanding balances at the year-end are unsecured and settlement occurs in cash. Management believes that Company’s international transaction with related parties post March 31, 2023 continue to be at arm’s length and that the transfer pricing legislation will not have any impact on the financial statements, particularly on the amount of provision of taxation for the year ended March 31, 2024. 30 Leases Company as lessee The Company has entered into cancellable leasing arrangement in respect of office premises for a period of 3-5 years which are renewable on mutual consent.
(in Rupees million) March 31, 2023
Sr. No Nature of Transaction
March 31, 2024
9
Investments in equity instruments in subsidiary Fractal Private Limited, Singapore Fractal Analytics Incorporated, USA Theremin Ai Solutions Private Limited Eugenie Technologies Private Limited Asper.AI Technologies Private Limited Senseforth AI Research Private Limited
3
3
3,426
3,426
100
100
1
1
-
121 130 408
130 408
Analytics Vidya Private Limited Fractal Alpha Private Limited
Ind AS 116 - Lease liabilities
5
5
(in Rupees million) As at March 31, 2023
Final Mile Consultants Private Limited Neal Analytics Services Private Limited Cuddle Artificial Intelligence Private Limited
143
159
As at March 31, 2024
Particulars Non-current
81
77
722 168 890
42
7
-
10 Investments in preference shares in subsidiary Theremin AI Solutions Private Limited
Current
229 271
Total
53
53
11
Investments in equity shares in associate Qure.ai Technologies Private Limited Guarantee commission receivable Fractal Analytics Incorporated, USA Provision for doubtful receivables Eugenie Technologies Private Limited Theremin Ai Solutions Private Limited Senseforth AI Research Private Limited
(i) Movement in Lease liabilities: Opening Balance
250
250
12
271
457
132
125
Additions on account of business combinations (Refer note 35)
-
1
13
Add: Addition made during the year Add: Finance cost accrued during the year
864
31 39
53 25 14
46 24
16
Less: Payment of Lease Liabilities
(261)
(257)
- -
Closing Balance
890
271
Fractal Alpha Private Limited*
0
(ii) The contractual maturities of Lease liabilities are as under on undiscounted basis: Payable within one year 245
14 Provision for impairment on Inter corporate loan Eugenie Technologies Private Limited
-
10
243
Senseforth AI Research Private Limited
72
- -
Payable later than one year and not later than five years
853
47
-
-
Fractal Alpha Private Limited
1
(iii) Lease payments recognized for short term leases in Statement of Profit and Loss
15 Impairment provision for investment in equity instruments in subsidiary Theremin Ai Solutions Private Limited
100
100
(iv) Following amounts are recognised in the Statement of Profit and Loss
Eugenie Technologies Private Limited
1
1
(in Rupees million) For the year ended March 31, 2023
Analytics Vidya Private Limited
16
16
For the year ended March 31, 2024
Senseforth AI Research Private Limited
119
119
Fractal Alpha Private Limited
5
-
Particulars
Depreciation on right of use assets Interest expense on lease liabilities
194
189
16 Impairment provision for investment in 0.1% Compulsory Convertible Debentures Eugenie Technologies Private Limited
16
39
-
92
Expense relating to low value assets / short term leases (included in other expenses) - The Company does not face a significant liquidity risk with regard to its lease liabilities as the current assets are sufficient to meet the obligations related to lease liabilities as and when they fall due. 31 Fair Value Measurement - The following table shows the carrying amounts and fair values of financial assets and financial liabilities, including their levels in the fair value hierarchy. It does not include fair value information for financial assets and financial liabilities if the carrying amount is a reasonable approximation of fair value those include cash and cash equivalents, other bank balances, trade receivables and trade payables.
17
Impairment provision for investment in preference shares in subsidiary Theremin Ai Solutions Private Limited
53
53
18 Impairment provision for deemed investment in subsidiaries Theremin Ai Solutions Private Limited
2
2
19 Business Consideration payable
Final Mile Consultants Private Limited Neal Analytics Services Private Limited
- -
31 78
*Denotes amount less than C 1 million. Refer note 13 with respect to initial public offer expense.
Key managerial personnel who are under the employment of the Company are entitled to post employment benefits recognized as per Ind AS 19 - 'Employee Benefits' in the financial statements. As these employee benefits are amounts provided on the basis of actuarial valuation, the same is not included above. Gratuity has been computed for the Company as a whole and hence excluded. ^ Total employee stock option expense for the years ended March 31, 2024 and March 31, 2023 includes a charge of C 63 million and C 86 million, respectively, towards key management personnel." ^^ The Company has not recognised interest income on loan to subsidiaries where the requirement does not meet the recognition criteria as per Ind AS.
170
171
Fractal Analytics Limited | Annual Report 2023-24
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