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 businesses transferred meet the definition of 'Business' as per Ind AS 103 and the transaction being common control business combination is accounted in accordance with Appendix C to Ind AS 103 - Business Combinations. Pursuant to above, the Company has recorded assets, liabilities and reserves of the businesses acquired as appearing in the consolidated financial statements of the Company as on 1 April 2022, retained investments in the standalone financial statements to the extent of net assets not transferred and difference, if any, is accounted as capital reserve and accordingly the corresponding figures for the year ended March 31, 2023 of these standalone financial statements have been restated. The below table summarizes the assets and liabilities taken over as on date of transfer of business: (in Rupees Million) Particulars Cuddle Neal Final Mile Non current assets 97 99 44 Current assets* 6 1 0 Total assets (A) 103 100 44 Non current liabilities - - - Current liabilities 20 22 13 Total liabilities (B) 20 22 13 Net consideration payable (A-B) 83 78 31
(in Rupees million)
Balances acquired on account of business combination
Fractal India restated as on April 01, 2022
Fractal India as on April 01, 2022
Eliminations / Adjustments
Particulars Liabilities Borrowings
Cuddle
Neal
Final Mile
-
102 440
-
-
(102) (159)
-
Trade payables Lease liabilities
244 457 587 346
1 1
6
532 458 723 350
-
-
Other financial liabilities
97
81
42
(84)
Other liabilities
-
-
4 3
- -
Provisions
83
6
4
96
Total liabilities (B)
1,717
645
87
55
(345)
2,159
Share capital Other equity
31
-
-
-
- -
31
13,790 13,821
(636) (636)
6 6
(61) (61)
13,099 13,130
Total equity (C)
-
M ovement in other equity on account of the business combination being effective from April 01, 2022 is as per the table below: (in Rupees Million) Particulars Amount Other equity as on April 01, 2022 13,790 Retained earnings acquired on account of business combinations (699) Captial reserve on account of business combinations 8 Other equity as on April 01, 2022 post business combinations 13,099
*denotes amount less than C 1 million
The above consideration has been settled in cash / adjusted against loan receivable from these entities. The balance sheet as at April 01, 2022 post accounting of the business combinations effective April 01, 2022 is as follows: (in Rupees million) Balances acquired on account of business combination
Fractal India restated as on April 01, 2022
Fractal India as on April 01, 2022
Eliminations / Adjustments
The balance sheet and statement of profit and loss account post giving effect of the business combination as at and for the year ended March 31, 2023 is as below:
Particulars
Cuddle
Neal
Final Mile
Assets Property, plant and equipment*
Balance Sheet as at March 31, 2023:
357 378
0
0 1
0
- - - - - -
357 379 535
Right-of-use assets
- -
-
(in Rupees Million)
Goodwill
257
278
Impact of business combination
Intangible assets
33
51 59
- -
6
90 59
Pre business combination
Elimination / Adjustments
Post business combination
Particulars
Cuddle
Neal
Final Mile
Intangible assets under development
-
-
Total Assets (A) Total equity (B) Total liabilities (C)
16,607 15,005 1,602 16,607
(20)
139
3
61
16,790 14,561 2,229 16,790
Investments
5,726 3,946 3,467
(162)
(218)
(426)
4,920 3,946 3,538
(958)
38
(48)
524
Current Investments Trade receivables Other financial assets
938 (20)
101 139
51
(463)
45
50
135
(159)
Total equity and liabilities (B+C)
3
61
370 483 382 203 144
-
1 1
-
- - -
371 501 382
Other assets
16
1
The liabilities for Neal and Final Mile also include the business consideration payable on account of business transfer to respective entities by Fractal India. The above restatement does not have any impact on the net cash inflows / outflows of the Company during the year ended March 31, 2023.
Cash and cash equivalents
- - - -
- - -
- - - -
Loans
(186)
17
Income tax assets (net) Deferred tax assets (net)
- -
144
49
1
50
Total assets (A)
15,538
9
93
(6)
(345)
15,289
180
181
Fractal Analytics Limited | Annual Report 2023-24
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