2. Material accounting policies
Material accounting policies adopted by the company are as under:
2A. Basis of Preparation of Financial Statements
(a) Statement of Compliance with Ind AS
These financial statements have been prepared in accordance with Indian Accounting Standards (Ind AS) notified
under Section 133 of the Companies Act, 2013 (the ""Act"") read with the Companies (Indian Accounting Standards)
Rules, 2015 as amended from time to time.
Accounting policies have been consistently applied to all the years presented except where a newly issued Accounting
Standard is initially adopted or a revision to an existing Accounting Standard requires a change in the accounting
policy hitherto in use. These financial statements have been prepared for the Company as a going concern on the
basis of relevant Ind AS that are effective at the Company's annual reporting date March 31, 2025.
The Ind AS financial statements were approved by the Board of Directors of the Company on April 24, 2025.
(b) Basis of measurement
The financial statements have been prepared on a historical cost convention on accrual basis, except
for the following material items that have been measured at fair value as required by relevant Ind AS:-
i) Certain financial assets and liabilities measured at fair value (refer note 2B(i) accounting policy on financial
instruments)
ii) Net defined employee benefit assets / (liabilities) are measured at fair value of plan assets, less present value of
defined benefit obligations.
iii) Share based payment transaction are measured at fair value.
(c) Going concern
The company has prepared the financial statements on the basis that it will continue to operate as a going
concern.
(d) Presentation currency and rounding off
The financial statements are presented in Indian National Rupee and all values are rounded to nearest lakhs (?
00,000), except when otherwise indicated.
(e) Use of estimates
The preparation of financial statements in conformity with Ind AS requires the Management to make estimates
and assumptions that affect the reported amount of assets and liabilities as at the Balance Sheet date, reported
amount of revenue and expenses for the year and disclosures of contingent liabilities as at the Balance Sheet date.
The estimates and assumptions used in the accompanying financial statements are based upon the Management's
evaluation of the relevant facts and circumstances as at the date of the financial statements. Actual results could
differ from these estimates. Estimates and underlying assumptions are reviewed on a periodic basis. Revisions to
accounting estimates, if any, are recognised in the year in which the estimates are revised and in any future years
affected. Refer Note 2C for detailed discussion on estimates and judgements.
Information about significant areas of estimation uncertainty and critical judgements in applying accounting policies
that have the most significant effect on the amounts recognised in the standalone financial statements is included in
the following notes:
— Useful lives of property, plant and equipment;
— Impairment;
— Financial instruments;
— Employee benefits;
— Provisions;
— Income taxes
2B. Summary of material Accounting Policies
(a) Current and non-current classification
"The company segregates assets and liabilities into current and non-current categories for presentation in the balance
sheet after considering its normal operating cycle and other criteria set out in Ind AS 1 Presentation of Financial
Statements . For this purpose, current assets and liabilities include the current portion of non-current assets and
liabilities respectively. Deferred tax assets and liabilities are always classified as non-current.
The operating cycle is the time between the acquisition of assets for processing and their realisation in cash and cash
equivalents. The company has identified period up to twelve months as its operating cycle."
An asset is classified as current when it is:
• Expected to be realised or intended to be sold or consumed in normal operating cycle
• Held primarily for the purpose of trading
• Expected to be realised within twelve months after the reporting period, or
• Cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least twelve months
after the reporting period
All other assets are classified as non-current.
A liability is classified as current when:
• It is expected to be settled in normal operating cycle
• It is held primarily for the purpose of trading
• It is due to be settled within twelve months after the reporting period, or
• There is no unconditional right to defer the settlement of the liability for at least twelve months after the reporting
period
The Company classifies all other liabilities as non-current.
Deferred tax assets and liabilities are classified as non-current assets and liabilities respectively.
The operating cycle is the time between the acquisition of assets for processing and their realisation in cash and cash
equivalents. The Company has identified twelve months as its operating cycle."
(b) Property, plant and equipment
Items of property, plant and equipment are measured at historical cost less accumulated depreciation and
accumulated impairment losses, if any. The cost comprises purchase price, taxes (other than those subsequently
recoverable from tax authorities), borrowing cost if capitalisation criteria are met and directly attributable cost of
bringing the asset to its working condition for the intended use.
Subsequent costs are included in the asset's carrying amount or recognised as a separate asset, as appropriate,
only when it is probable that future economic benefits associated with the item will flow to the Company and the cost
of the item can be measured reliably. The carrying amount of any component accounted for as a separate asset is
derecognized when replaced. All other repairs and maintenance are charged to Statement of Profit and Loss during
the year in which they are incurred.
An item of property, plant and equipment and any significant part initially recognised is derecognised upon disposal
or when no future economic benefits are expected from its use or disposal. Any gain or loss arising on derecognition
of the asset (calculated as the difference between the net disposal proceeds and the carrying amount of the asset) is
included in the income statement when the asset is derecognised.
Advances paid towards the acquisition of property, plant and equipment outstanding at each balance sheet date are
classified as capital advances under other non-current assets and the cost of assets not put to use before such date
are disclosed under 'Capital work-in-progress'.
estimated useful lives are realistic and reflect fair approximation of the period over which the assets are likely to be
used.
Depreciation on addition to property plant and equipment is provided on pro-rata basis from the date of acquisition.
Depreciation on sale/deduction from property plant and equipment is provided up to the date preceding the date
of sale, deduction as the case may be. Gains and losses on disposals are determined by comparing proceeds with
carrying amount. These are included in Statement of Profit and Loss.
Depreciation methods, useful lives and residual values are reviewed periodically at each financial year end and
adjusted prospectively, as appropriate.
(c) Other Intangible Assets
Intangible assets are stated at acquisition cost, net of accumulated amortisation.
The Company amortised intangible assets over their estimated useful lives using the straight line method. The
estimated useful lives of intangible assets is as follows:
(d) Investment in Subsidiaries
Investment in Subsidiaries are valued at cost. Dividend income from subsidiaries is recognised when its right to receive
the dividend is established.
(e) Foreign Currency Transactions
Functional and presentation currency
Items included in the financial statements are measured using the currency of the primary economic environment
in which the entity operates ('the functional currency'). The financial statements are presented in ?, which is the
Company's functional and presentation currency.
Transactions and balances
On initial recognition, all foreign currency transactions are recorded by applying to the foreign currency amount the
exchange rate between the functional currency and the foreign currency at the date of the transaction. Gains/losses
arising out of fluctuation in foreign exchange rates between the transaction date and settlement date are recognised
in the profit and loss.
Monetary assets and liabilities denominated in foreign currencies are translated at the functional currency spot rates
of exchange at the reporting date and the exchange differences are recognised in the profit and loss.
Non-monetary items that are measured in terms of historical cost in a foreign currency are translated using the
exchange rates at the dates of the initial transactions. Non-monetary items measured at fair value in a foreign
currency are translated using the exchange rates at the date when the fair value is determined. The gain or loss arising
on translation of non-monetary items measured at fair value is treated in line with the recognition of the gain or loss on
the change in fair value of the item (i.e., translation differences on items whose fair value gain or loss is recognised in
OCI or profit or loss are also recognised in OCI or profit or loss, respectively).
The assets and liabilities of the branch are translated into ? at the rate of exchange prevailing at the reporting date
and its statements of profit and loss are translated at average exchange rates. Equity items, other than retained
earnings, are translated at the spot rate in effect on each related transaction date (specific identification). Retained
earnings are translated at the weighted average exchange rate for the relevant year. The exchange differences arising
on translation for consolidation are recognised in Other Comprehensive Income.
(f) Impairment of non-financial assets/unlisted equity investments
The carrying amounts of the Company's tangible and intangible assets, including unlisted equity investments are
reviewed at each reporting date to determine whether there is any indication of impairment. If any such indication
exists, then the asset's recoverable amount is estimated in order to determine the extent of the impairment loss, if any.
The recoverable amount of an asset or cash-generating unit is the greater of its value in use and its fair value less
costs of disposal. In assessing value in use, the estimated future cash flows are discounted to their present value using
a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to
the asset or the cash generating unit for which the estimates of future cash flows have not been adjusted. For the
purpose of impairment testing, assets are grouped together into the smallest group of assets that generates cash
inflows from continuing use that are largely independent of the cash inflows of other assets or groups of assets.
An impairment loss is recognised in the Statement of profit or loss if the estimated recoverable amount of an asset
or its cash generating unit is lower than its carrying amount. If, at the reporting date there is an indication that a
previously assessed impairment loss no longer exists, the recoverable amount is reassessed and reversed only to the
extent that the asset's carrying amount does not exceed the carrying amount that would have been determined, net
of depreciation or amortisation, if no impairment loss had been previously recognised.
(g) Fair value measurement
The Company measures financial instruments at fair value at each balance sheet date.
Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction
between market participants at the measurement date. The fair value measurement is based on the presumption that
the transaction to sell the asset or transfer the liability takes place either:
? In the principal market for the asset or liability, or
? In the absence of a principal market, in the most advantageous market for the asset or liability accessible to the
Company.
The principal or the most advantageous market must be accessible by the Company.
The fair value of an asset or a liability is measured using the assumptions that market participants would use when
pricing the asset or liability, assuming that market participants act in their economic best interest.
A fair value measurement of a non-financial asset takes into account a market participant's ability to generate
economic benefits by using the asset in its highest and best use or by selling it to another market participant that
would use the asset in its highest and best use.
The Company uses valuation techniques that are appropriate in the circumstances and for which sufficient data
are available to measure fair value, maximizing the use of relevant observable inputs and minimizing the use
of unobservable inputs. The Company's management determines the policies and procedures for fair value
measurement such as derivative instrument.
All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorized
within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value
measurement as a whole:
? Level 1 — Quoted (unadjusted) market prices in active markets for identical assets or liabilities.
? Level 2 — Valuation techniques for which the lowest level input that is significant to the fair value measurement is
directly or indirectly observable.
? Level 3 — Valuation techniques for which the lowest level input that is significant to the fair value measurement is
unobservable.
(h) Revenue from contract with customer
The Company derives revenues primarily from rendering messaging services including national long distance (NLD),
international long distance (ILD), rich communication service (RCS) and other services like Voice or of similar nature, for
which the Company enters into agreement with customers.
The Company basis the terms of agreement entered into with customers determines whether each performance
obligation will be satisfied over time or at a point in time. Revenue from contract with customers is recognised as and
when the Company satisfies the performance obligation.
Revenue is measured based on the transaction price, as specified in the contract with the customer, which is the
consideration, adjusted for volume discounts, if any. Revenue also excludes taxes collected from customers which are
subsequently remitted to the government.
Revenue from customers is recognised at the occurrence of the event satisfying performance obligation mentioned in
the agreement and the Company is entitled to the consideration in exchange of the delivery of the agreed event.
1. Revenue from messaging services is recognised at a rate per message based on the number of messages
processed where there is no uncertainty as to measurement,
2. Revenue in the form of platform fee is recognised at an applicable revenue share percentage on the
consideration derived from platform usage.
3. Revenue from other services is recognised based on the rate per transaction for the number of transactions
processed on our platform.
Contract assets are recognised when there are excess of revenues earned over billings. Contract assets are classified
as unbilled receivables (only act of invoicing is pending) when there is unconditional right to receive cash, and only
passage of time is required, as per contractual terms. The final billing is subject to mutual agreement on the volume of
transactions processed or messages delivered, in accordance with the terms of the contract.
Other Income
Interest Income is recognised on a basis of effective interest method as set out in Ind AS 109, Financial Instruments, and
where no significant uncertainty as to measurability or collectability exists.
(i) Taxes
Tax expense for the year, comprising current tax and deferred tax, are included in the determination of the net profit or
loss for the year.
Current income tax
Current income tax assets and liabilities are measured at the amount expected to be paid to or recovered from
the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or
substantively enacted, at the reporting date in the countries where the company operates and generates taxable
income.
Current income tax relating to items recognised outside profit or loss is recognised outside profit or loss (either in other
comprehensive income or in equity). Current tax items are recognised in correlation to the underlying transaction
either in OCI or directly in equity. Management periodically evaluates positions taken in the tax returns with respect to
situations in which applicable tax regulations are subject to interpretation and considers whether it is probable that
a taxation authority will accept an uncertain tax treatment. The company reflects the effect of uncertainty for each
uncertain tax treatment by using either most likely method or expected value method, depending on which method
predicts better resolution of the treatment.
Deferred tax
Deferred tax is provided using the balance sheet approach on temporary differences between the tax base of assets
and liabilities and their carrying amounts for financial reporting purposes at the reporting date.
Deferred tax liabilities are recognised for all taxable temporary differences, except:
When the deferred tax liability arises from the initial recognition of goodwill or an asset or liability in a transaction that
is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable
profit or loss and does not give rise to equal taxable and deductible temporary differences.
In respect of taxable temporary differences associated with investments in subsidiaries, associates and interests in
joint ventures, when the timing of the reversal of the temporary differences can be controlled and it is probable that
the temporary differences will not reverse in the foreseeable future.
Deferred tax assets are recognised for all deductible temporary differences, the carry forward of unused tax credits
and any unused tax losses. Deferred tax assets are recognised to the extent that it is probable that taxable profit will
be available against which the deductible temporary differences, and the carry forward of unused tax credits and
unused tax losses can be utilised, except:
When the deferred tax asset relating to the deductible temporary difference arises from the initial recognition of an
asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither
the accounting profit nor taxable profit or loss and does not give rise to equal taxable and deductible temporary
differences.
In respect of deductible temporary differences associated with investments in subsidiaries, associates and interests in
joint ventures, deferred tax assets are recognised only to the extent that it is probable that the temporary differences
will reverse in the foreseeable future and taxable profit will be available against which the temporary differences can
be utilised.
The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that it is
no longer probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be
utilised. Unrecognised deferred tax assets are re-assessed at each reporting date and are recognised to the extent
that it has become probable that future taxable profits will allow the deferred tax asset to be recovered.
In assessing the recoverability of deferred tax assets, the company relies on the same forecast assumptions used
elsewhere in the financial statements and in other management reports, which, among other things, reflect the
potential impact of climate-related development on the business, such as increased cost of production as a result of
measures to reduce carbon emission.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the asset
is realised, or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted
at the reporting date.
Deferred tax relating to items recognised outside profit or loss is recognised outside profit or loss (either in OCI or in
equity). Deferred tax items are recognised in correlation to the underlying transaction either in OCI or directly in equity.
The company offsets deferred tax assets and deferred tax liabilities if and only if it has a legally enforceable right to
set off current tax assets and current tax liabilities and the deferred tax assets and deferred tax liabilities relate to
income taxes levied by the same taxation authority on either the same taxable entity or different taxable entities which
intend either to settle current tax liabilities and assets on a net basis, or to realise the assets and settle the liabilities
simultaneously, in each future period in which significant amounts of deferred tax liabilities or assets are expected to
be settled or recovered.
(j) Cash and cash equivalents
Cash and cash equivalent in the balance sheet comprise cash at banks, cash on hand and short-term deposits with
an original maturity of three months or less, which are subject to an insignificant risk of changes in value.
For the purposes of the cash flow statement, cash and cash equivalents include cash on hand, cash in banks and
short-term deposits.
Cash dividend to equity holders
The final dividend on shares is recorded as a liability on the date of approval by the shareholders and interim dividends
are recorded as a liability on the date of declaration by the Company's Board of Directors.
(k) Cash Flow Statement
Cash flows are reported using the indirect method, whereby net profit before tax is adjusted for the effects of
transactions of a non-cash nature and any deferrals or accruals of past or future cash receipts or payments. The cash
flows from regular revenue generating, investing and financing activities of the Company are segregated.
(l) Financial instruments
A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity
instrument of another entity.
(i) Financial assets
1. Initial Recognition
At initial recognition, financial asset is measured at its fair value plus, in the case of a financial asset not at fair
value through profit or loss, transaction costs that are directly attributable to the acquisition of the financial asset.
Transaction costs of financial assets carried at fair value through profit or loss are expensed in profit or loss
2. Subsequent measurement
For purposes of subsequent measurement, financial assets are classified in following categories:
a. at amortised cost; or
b. at fair value through other comprehensive income; or
c. at fair value through profit or loss.
The classification depends on the entity's business model for managing the financial assets and the contractual
terms of the cash flows.
Amortised cost: Assets that are held for collection of contractual cash flows where those cash flows represent solely
payments of principal and interest are measured at amortised cost. Interest income from these financial assets is
included in finance income using the effective interest rate method (EIR).
Fair value through other comprehensive income (FVTOCI):
Assets that are held for collection of contractual cash flows and for selling the financial assets, where the
asset's cash flows represent solely payments of principal and interest, are measured at fair value through other
comprehensive income (FVTOCI). Movements in the carrying amount are taken through OCI, except for the
recognition of impairment gains or losses, interest income and foreign exchange gains and losses which are
recognised in Statement of Profit and Loss. When the financial asset is derecognised, the cumulative gain or loss
previously recognised in OCI is reclassified from equity to Statement of Profit and Loss and recognised in other
gains/ (losses). Interest income from these financial assets is included in other income using the effective interest rate
method.
Fair value through profit or loss (FVTPL):
Assets that do not meet the criteria for amortized cost or FVTOCI are measured at fair value through profit or loss.
Interest income from these financial assets is included in other income.
Equity instruments: All equity investments in scope of Ind AS 109 are measured at fair value. Equity instruments
which are held for trading and contingent consideration recognised by an acquirer in a business combination to
which Ind AS103 applies are classified as at FVTPL. For all other equity instruments, the Company may make an
irrevocable election to present in other comprehensive income subsequent changes in the fair value. The Company
makes such election on an instrument- by-instrument basis. The classification is made on initial recognition and is
irrevocable.
If the Company decides to classify an equity instrument as at FVTOCI, then all fair value changes on the instrument,
excluding dividends, are recognised in the OCI. There is no recycling of the amounts from OCI to statement of profit
and loss , even on sale of investment. However, the Company may transfer the cumulative gain or loss within equity.
Equity instruments included within the FVTPL category are measured at fair value with all changes recognised in the
profit and loss.
3. Impairment of financial assets
In accordance with Ind AS 109, 'Financial Instruments', the Company applies expected credit loss (ECL) model for
measurement and recognition of impairment loss on financial assets that are measured at amortised cost and
FVTOCI.
For recognition of impairment loss on financial assets and risk exposure, the Company determines that whether
there has been a significant increase in the credit risk since initial recognition. If credit risk has not increased
significantly, 12-month ECL is used to provide for impairment loss. However, if credit risk has increased significantly,
lifetime ECL is used. If in subsequent years, credit quality of the instrument improves such that there is no longer
a significant increase in credit risk since initial recognition, then the entity reverts to recognising impairment loss
allowance based on 12 month ECL.
Life time ECLs are the expected credit losses resulting from all possible default events over the expected life of
a financial instrument. The 12 month ECL is a portion of the lifetime ECL which results from default events that are
possible within 12 months after the year end.
ECL is the difference between all contractual cash flows that are due to the Company in accordance with the
contract and all the cash flows that the entity expects to receive (i.e. all shortfalls), discounted at the original EIR.
When estimating the cash flows, an entity is required to consider all contractual terms of the financial instrument
(including prepayment, extension etc.) over the expected life of the financial instrument. However, in rare cases
when the expected life of the financial instrument cannot be estimated reliably, then the entity is required to use the
remaining contractual term of the financial instrument.
In general, it is presumed that credit risk has significantly increased since initial recognition if the payment is more
than 30 days past due.
ECL impairment loss allowance (or reversal) recognised during the year is recognised as income/expense in the
statement of profit and loss. In balance sheet ECL for financial assets measured at amortised cost is presented
as an allowance, i.e. as an integral part of the measurement of those assets in the balance sheet. The allowance
reduces the net carrying amount. Until the asset meets write off criteria, the Company does not reduce impairment
allowance from the gross carrying amount.
4. Derecognition of financial assets
A financial asset is derecognised only when
a. the rights to receive cash flows from the financial asset is transferred or
b. retains the contractual rights to receive the cash flows of the financial asset, but assumes a contractual
obligation to pay the cash flows to one or more recipients.
Where the financial asset is transferred then in that case financial asset is derecognised only if substantially all risks
and rewards of ownership of the financial asset is transferred. Where the entity has not transferred substantially all
risks and rewards of ownership of the financial asset, the financial asset is not derecognised.
(ii) Financial liabilities
1. Initial recognition and measurement
Financial liabilities are classified, at initial recognition, as financial liabilities at fair value through profit or loss and at
amortised cost, as appropriate.
All financial liabilities are recognised initially at fair value and, in the case of payables, net of directly attributable
transaction costs.
2. Subsequent measurement
The measurement of financial liabilities depends on their classification, as described below:
Financial liabilities at fair value through profit or loss
Financial liabilities at fair value through profit or loss include financial liabilities held for trading and financial liabilities
designated upon initial recognition as at fair value through profit or loss. Gains or losses on liabilities held for trading
are recognised in the Statement of Profit and Loss.
Financial liabilities at amortised cost
Financial liabilities are subsequently carried at amortised cost using the effective interest method. For trade and
other payables maturing within one year from the Balance Sheet date, the carrying amounts approximate fair value
due to the short maturity of these instruments.
3. Derecognition
A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires. When
an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms
of an existing liability are substantially modified, such an exchange or modification is treated as the derecognition
of the original liability and the recognition of a new liability. The difference in the respective carrying amounts is
recognised in the Statement of Profit and Loss as finance costs.
(iii) Offsetting financial instrument
Financial assets and liabilities are offset and the net amount is reported in the balance sheet where there is a legally
enforceable right to offset the recognised amounts and there is an intention to settle on a net basis or realise the asset
and settle the liability simultaneously. The legally enforceable right must not be contingent on future events and must
be enforceable in the normal course of business and in the event of default, insolvency or bankruptcy of the Company
or the counterparty.
(m) Employee Benefits
Defined contribution schemes
Contributions to defined contribution schemes are charged to the profit and loss in the year to which they relate.
Defined benefit schemes
Defined benefit scheme surpluses and deficits are measured at:
i. The fair value of plan assets at the reporting date; less
ii. Plan liabilities calculated using the projected unit credit method discounted to its present value using yields
available on government bonds that have maturity dates approximating to the terms of the liabilities and are
denominated in the same currency as the postemployment benefit obligations; less
iii. The effect of minimum funding requirements agreed with scheme trustees."
Remeasurements of the net defined obligation are recognised directly within equity. The remeasurements
include:
i. Actuarial gains and losses
ii. Return on plan assets (interest exclusive)
iii. Any asset ceiling effects (interest exclusive).
Service costs are recognised in profit or loss, and include current and past service costs as well as gains and losses on
curtailments.
Net interest expense (income) is recognised in profit or loss, and is calculated by applying the discount rate used to
measure the defined benefit obligation (asset) at the beginning of the annual period to the balance of the net defined
benefit obligation (asset), considering the effects of contributions and benefit payments during the period.
Gains or losses arising from changes to scheme benefits or scheme curtailment are recognised immediately in profit or
loss.
Settlements of defined benefit schemes are recognised in the period in which the settlement occurs.
(iii) Share-based payments
Certain employees (including senior executives) of the Company receive remuneration in the form of share-based
payments(SBP), whereby employees render services as consideration for equity instruments (equity-settled
transactions). The cost of equity-settled transactions is determined by the fair value at the date when the grant is
made using an appropriate valuation model.
That cost is recognised, together with a corresponding increase in SBP reserves in equity, over the period in which the
performance and/or service conditions are fulfilled in employee benefits expense. The cumulative expense recognised
for equity-settled transactions at each reporting date until the vesting date reflects the extent to which the vesting
period has expired and the Company's best estimate of the number of equity instruments that will ultimately vest. The
Statement of profit and loss expense or credit for a period represents the movement in cumulative expense recognised
as at the beginning and end of that period and is recognised in employee benefits expense.
The dilutive effect of outstanding options is reflected as additional share dilution in the computation of diluted
earnings per share.
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