Notes to the Consolidated Financial Statements as at and for the year ended March 31, 2024
Notes to the Consolidated Financial Statements as at and for the year ended March 31, 2024
(b) The tax losses of the Group will lapse in subsequent years as follows:
(in Rupees million)
(in Rupees million)
As at March 31, 2024
As at March 31, 2023
Particulars
As at March 31, 2024
As at March 31, 2023
Particulars 0 - 5 years
Issued share capital 26,317,789 equity shares of face value C 1 each (March 31, 2023 : 26,189,854 equity shares of C 1 each)
396 496
131 961
26
26
From 5 - 8 years Beyond 8 years
1,778 3,194
1,753 2,791
5
5
4,523,604 Series B 0.001 % Compulsorily convertible preference shares of face value C 1 each (March 31, 2023 : 4,523,604 Series B 0.001 % Compulsorily convertible preference shares of face value C 1 each)
Indefinite
31
31
(c) Income tax expense This notes provides analysis of Group's income tax expense, amounts that are recognised directly in equity and how the tax expense is affected by non-deductible items. It also explains significant estimates in relation to the Group's tax position.
Subscribed and fully paid-up 25,652,931 equity shares of face value C 1 each fully paid up (March 31, 2023 : 25,524,996 equity shares of C 1 each fully paid up)
26
26
5
5
4,523,604 Series B 0.001 % Compulsorily convertible preference shares of face value C 1 each (March 31, 2023 : 4,523,604 Series B 0.001 % Compulsorily convertible preference shares of face value C 1 fully paid up)
Income tax expense is as follows:
(in Rupees million)
Year ended March 31, 2024
Year ended March 31, 2023
31
31
Particulars
Subscribed but not fully paid-up 664,858 equity share of face value C 1 ( C 0.5 paid up)* (March 31, 2023 : 664,858 equity share of face value C 1 ( C 0.5 paid up) )
Profit and loss (a) Current Tax -
0
0
For the year
227
174
0
0
-
Tax adjustment for earlier year
98
5
31
31
(b) Deferred tax charge / (credit)
(83)
1,011 1,190
*Amount less than C 1 million
Total current tax expense
242
(a) Reconciliation of shares outstanding at the beginning and at the end of the year
(d) Reconciliation of tax expense and the book profit computed by applying income tax rate:
As at March 31, 2024
As at March 31, 2023
(in Rupees million)
Year ended March 31, 2024
Year ended March 31, 2023
Amount (in Rupees million)
Number of shares
Amount (in Rupees million)
Particulars
Particulars
Number of shares
(Loss) / Profit before tax
(305)
3,134
Equity shares At the commencement of the year
Tax rate
25.17%
25.17%
2,61,89,854
26
2,59,47,598
26
Computed tax expense
(77)
789
Add : Shares issued during the year under - employee stock option plan (Refer note a(i) below)
Adjustments: Current year losses/utilisation of losses for which deferred tax asset is not recognised
1,27,935
-*
2,32,856
-*
189
364 146
Expenses not deductible for tax purpose
34 98
-
private placement of shares (Refer note a(ii) below)
-
-*
9,400
-*
Tax adjustment for earlier years Impact of different tax rate
5
At the end of the year
2,63,17,789
26
2,61,89,854
26
(13)
(155)
Share of loss of associate
41
73 13
*Denotes amount less than C 1 million
State taxes
4
(i) During the year 127,935 shares (March 31, 2023: 232,856 shares) were issued under employee stock option plan at various price (Refer note 33).
Others
(34)
(45)
Tax expense
242
1,190
(ii) During the year Nil shares (March 31, 2023: 9,400 shares) were issued on a private placement basis.
Instruments entirely equity in nature - Series B 0.001 % Compulsorily convertible preference shares At the commencement of the year 45,23,604 5 45,23,604 5 Issued during the year - - - - At the end of the year 45,23,604 5 45,23,604 5
14 Equity Share Capital
(in Rupees million)
As at March 31, 2024
As at March 31, 2023
Particulars
Authorised 349,200,000 equity shares of face value C 1 each (March 31, 2023 : 349,200,000 equity shares of face value C 1 each) ^
349
349
38
38
38,100,000 Series B 0.001 % Compulsorily convertible preference shares of face value C 1 each (March 31, 2023 : 38,100,000 Series B 0.001 % Compulsorily convertible preference shares of face value C 1 each)
387
387
^The authorised share capital of the Company has been increased vide board resolution date July 22, 2022.
220
221
Fractal Analytics Limited | Annual Report 2023-24
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