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
(ii) The contractual maturities of Lease liabilities are as under on undiscounted basis: Payable within one year 317
(in Rupees million)
Sr. No Nature of Transaction
March 31, 2024
March 31, 2023
313 268
Payable later than one year and not later than five years
1,084
2
Interest income Pranay Agrawal Loan given Pranay Agrawal Repayment of loan Pranay Agrawal Consulting services Tario Partners LLP
Payable after five years
-
28 33
10
8
80
(iii) Lease payments recognised for short term leases in Consolidated Statement of Profit and Loss during the year
3
8
-
4
(iv) Following amounts are recognised in the Consolidated Statement of Profit and Loss
8
251
(in Rupees million)
5
For the year ended March 31, 2024
For the year ended March 31, 2023
10
7
Particulars
6
Expenses incurred on behalf of associate company Qure Technologies Inc.*
Depreciation on Right of use assets Interest expense on lease liabilities
249
246
8 0 **The sitting fees paid to independent directors amounting to C 16 million and C 7 million for the year ended March 31, 2024 and March 31, 2023 respectively. ^Total employee stock option expense for the years ended March 31, 2024 and March 31, 2023 includes a charge of C 106 million and C 143 million, respectively, towards key management personnel. (in Rupees million) Sr. No Balances March 31, 2024 March 31, 2023 1 Loans including interest accrued Pranay Agrawal 282 269 2 Other receivables Qure Technologies Inc.* 5 0 3
41 80
45
Expense relating to low value assets/short term leases (included in other expense) 33 The Group 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, other financial assets ,trade payables and other financial liabilities. (in Rupees million) (i) Fair value through profit and loss (FVTPL) Level March 31, 2024 March 31, 2023 Assets Investments (Refer note a below) 2 4,455 2,906 Investments (Refer note b below) 3 79 12 Derivative asset - Forward contract receivable 2 27 - Total assets 4,561 2,918 Liabilities Derivative liability - Forward contract payable 2 - 24 Total liabilities - 24 (ii) Fair value through other comprehensive income Level Assets Derivative asset - Forward contract receivable 2 43 - Total assets 43 - (iii) Amortised cost Assets Investments* 0 - Trade receivables 5,333 5,009 Cash and cash equivalents 812 2,132 Other bank balances 75 151 Loans 282 269 Other financial assets 159 187 Total assets 6,661 7,748
Trade payables (Including provision) Qure.ai Technologies Private Limited
1
1
*Amount less than C 1 million Refer note 12 with respect to initial public offer expenses.
Key managerial personnel who are under the employment of the Parent 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 entity as a whole and hence excluded. The transactions with related parties are made on terms equivalent to those that prevail in arm’s length transactions. Outstanding balances (except loan to director) at the year-end are unsecured and settlement occurs in cash.
30 Leases
Group as lessee The Group entities have entered into cancellable leasing arrangement in respect of office premises for a period of 3-5 years which are renewable on mutual consent.
Ind AS 116 - Lease liabilities
(in Rupees million)
As at March 31, 2024
As at March 31, 2023
Particulars Non-current
913 218
243 273 516
Current
Total
1,131
Liabilities Borrowings
2,501
3,256
(i) Movement in Lease liabilities: Opening Balance
Trade payables
512
571
516 885
543 277
Other financial liabilities
2,764 5,777
1,982 5,809
Add: Additions on account of new leases Add: Finance cost accrued during the year
Total liabilities
41
45
*Denotes amount less than C 1 million N ote: Carrying amounts of cash and cash equivalents, bank balances, loans, trade receivables, borrowings and trade payables as at March 31, 2024 and March 31, 2023 approximate the fair value. (a) Valuation technique : Fair value of current investments is considered based on the valuation quotes received from mutual fund house for investments and bankers for derivative instruments which are considered under level 2.
Less: Termination/cancellation
(2)
(33)
Add: Exchange differences on translating the financial statements of foreign operations
4
9
Less: Payment of Lease Liabilities
(313)
(325)
Closing Balance
1,131
516
232
233
Fractal Analytics Limited | Annual Report 2023-24
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