C. Financial Risk Management
The Company has exposure to the following risks arising from financial instruments:
- market risk (refer (C)(ii));
- credit risk (refer (C)(iii)); and
- liquidity risk (refer (C)(iv)).
i. Risk management framework
The Company's Board of Directors has overall responsibility for the establishment and oversight of the Company's risk management framework. The Board of Directors is responsible for developing and monitoring the Company's
risk management policies.
The Company's risk management policies are established to identify and analyse the risks faced by the company, to set appropriate risk limits and controls and to monitor risks and adherence to limits. Risk management policies
and systems are reviewed regularly to reflect changes in market conditions and the Company's activities. The Company, through its training and management standards and procedures, aims to maintain a disciplined and
constructive control environment in which all employees understand their roles and obligations.
ii. Market Risk-Foreign currency and interest rate risk
Market risk is the risk of loss of future earnings or fair values or future cash flows that may result from a change in the price of a financial instrument. The value of a financial instrument may change as a result of changes in the
interest rates, foreign exchange rates and other market changes that affect market risk sensitive instruments. Market risk is attributable to all market risk sensitive financial instruments including foreign currency receivables and
payables. The Company is exposed to market risk primarily related to foreign exchange rate risk (currency risk).
iii. Credit risk
Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its contractual obligations, and arises principally from the Company's trade receivables, debt securities, cash
and cash equivalents, bank balance other than cash and cash equivalents,security deposits and other financial assets.
Trade receivables and unbilled revenue
Exposures to customers outstanding at the end of each reporting period are reviewed by the Company to determine incurred and expected credit losses. Historical trends of impairment of trade receivables do not reflect any
significant credit losses. Given that the macro economic indicators affecting customers of the Company have not undergone any substantial change, the Company expects the historical trend of minimal credit losses to continue.
Further, management believes that the unimpaired amounts and are still collectible in full, based on historical payment behavior and analysis of customer credit risk.
Cash and bank balances, investments, loans and other financial assets
Cash and bank balances comprises of deposits with bank and interest accrued on such deposits. These deposits are held with credit worthy banks. The credit worthiness of such banks are evaluated by the management on an
ongoing basis and is considered to be good with low credit risk.
Majority of investments of the Company are fair valued based on Level 1 or Level 2 inputs. These investments primarily include investment in liquid mutual fund units, certificates of deposit and quoted bonds issued by government
and quasi-government organizations. The Company invests after considering counterparty risks based on multiple criteria including Tier I Capital,
Capital Adequacy Ratio, Credit Rating, Profitability, NPA levels and deposit base of banks and financial institutions. These risks are monitored regularly as per its risk management program.
Other financial assets primarily constitute of security deposits. Loans comprise of loan given to wholly owned subsidiaries to fund the expansion of the subsidiary. The Company does not expect any losses from non-performance
by these counter parties.
The Company limits its exposure to credit risk by investing in debt securities and minimum investment being made in equity instruments. The credit worthiness of the counterparties of the investments made are evaluated by the
management on an ongoing basis and is considered to be good with low credit risk.
Expected credit loss (ECL) measurement for the trade receivables and contract assets of the Company
To measure the expected credit losses, trade receivables have been grouped based on shared credit risk characteristics and the days past due. The Company always measures the loss allowance for trade receivables and contract
assets at an amount equal to lifetime expected credit loss (ECL). The Company has used a practical expedient by computing the expected credit loss allowance for trade receivables based on a provision matrix under simplified
approach. The provision matrix takes into account historical credit loss experience and adjusted for forward-looking information. The expected credit loss allowance is based on the ageing of the days the receivables are due.
Based on internal assessment which is driven by the historical experience and current facts available in relation to pattern of collection thereof, the credit risk for these trade receivables is considered low.
As per management analysis majority of the receivables of the Company either not due or aged beyond 0-90 days bucket. Accordingly, the Company does not carry any provisions as at the year ended March 31, 2025, and
March 31, 2024.
(iv) Liquidity risk
Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset. The Company's approach to managing
liquidity is to ensure, as far as possible, that it will have sufficient liquidity to meet its liabilities when they are due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the
Company's reputation.
Cash flow from operating activities provides the funds to service and finance the financial liabilities on a day-to-day basis.
The Company regularly monitors the rolling forecasts to ensure it has sufficient cash on an on-going basis to meet operational needs. Any short term surplus cash generated, over and above the amount required for working capital
management and other operational requirements, is retained as cash and cash equivalents (to the extent required) and any excess is invested in interest bearing term deposits and other highly marketable debt investments with
appropriate maturities to optimise the cash returns on investments while ensuring sufficient liquidity to meet its liabilities.
24. Segment Information
a. Operating segments
The Company is principally engaged in a single business segment viz., develop and deploy result-oriented analytics solutions to its customers. Operating segments are reported in a manner consistent with the internal reporting
provided to the Chief Operating Decision Maker. The Chief Executive Officer (CEO) of the Company has been identified as the chief operating decision maker who assesses the financial performance and position of the Company,
and makes strategic decisions.
Segment accounting policies
The accounting principles consistently used in the preparation of the financial statements and applied to record revenue and expenditure in individual segments are as set out in Note 27(H) to the Standalone Financial Statements.
The description of segment assets and the accounting policies in relation to segment accounting are as under:
(i) Non-current assets
Segment non-current assets (other than financial instruments and deferred tax assets) include all operating assets and consist primarily of right of use asset, property, plant and equipment, capital-work in progress and other non
current assets. The entire non-current assets are used and pertain to the India geography.
(ii) Revenue
Segment revenues are directly attributable to the segment and have been allocated to various segments on the basis of specific identification. However, segment revenues do not include interest and other income in respect of
non segmental activities and have remained unallocated.
Revenue in the geographical information considered for disclosures are as follows:
Revenue within India include rendering of services in India to customers located within India; and revenues outside India include rendering of services outside India to customers located outside India.
25. Capital Management
The Company's objective for capital management is to maximise shareholder value, safeguard business continuity and support the growth of the Company. The Company determines the capital requirement based on annual
operating plans and long-term and other strategic investment plans. The funding requirements are met through equity and operating cash flows generated. The Company is not subject to any externally imposed capital
requirements. The Company monitors capital on the basis of the following gearing ratio: Adjusted net debt (Total liabilities net of cash and cash equivalents) divided by total equity as shown in the balance sheet.
27. Other Accounting Policies
A. Foreign currency transactions
Transactions in foreign currencies are initially recorded by the Company at their functional currency spot rates
at the date of the transaction.
Monetary assets and liabilities denominated in foreign currencies are translated into the functional currency at
the exchange rate at the reporting date. Exchange differences that arise on settlement of monetary items or on
reporting at each balance sheet date are recognised as income or expenses in the period in which they arise.
Non-monetary items which are carried at historical cost denominated in a foreign currency are reported using
the exchange rates at the date of transaction. Non-monetary assets and liabilities that are measured based on
historical cost in a foreign currency are translated at the exchange rate at the date of the transaction.
B. Financial Instruments
i) Classification and subsequent measurement
Financial assets:
On initial recognition, a financial asset is classified as measured at
- amortised cost;
- fair value through other comprehensive income (FVOCI) - debt investment
- fair value through other comprehensive income (FVOCI) - equity investment
- fair value through profit and loss (FVTPL)
Financial assets are not reclassified subsequent to their initial recognition, except if and in the period the
Company changes its business model for managing financial assets.
All financial assets not classified as measured at amortised cost or FVOCI are measured at FVTPL. On initial
recognition, the Company may irrevocably designate a financial asset that otherwise meets the requirements
to be measured at amortised cost or at FVOCI as at FVTPL if doing so eliminates or significantly reduces an
accounting mismatch that would otherwise arise.
Financial assets: Business model assessment
The Company makes an assessment of the objective of the business model in which a financial asset is held at
a portfolio level because this best reflects the way the business is managed and the information is provided to
management. The information considered includes:
- the stated policies and objectives for the portfolio and the operation of those policies in practice.
- these include whether management strategy focuses on earning contractual interest, maintaining a particular
interest rate profile, matching the duration of financial assets to the duration of any related liabilities or
expected cash outflows or realising cash flows through the sale of assets.
- how the performance of the portfolio is evaluated and reported to the Company's management.
- the risk that affect the performance of the business model (and the financial assets held with in the business
model) and how those risks are managed.
- how managers of the business are compensated.
- the frequency, volume and timing of sales of financial assets in prior period, the reasons for such sales and
expectations about future sales activity.
- transfers of financial assets to third parties in transactions that do not qualify for derecognition are not
considered sales for this purpose, consistent with the Company's continuing recognition of the assets.
Financial assets that are held for trading or are managed and whose performance is evaluated on fair value
basis are measured at FVTPL.
Financial assets: Assessment whether contractual cash flows are solely payments of
principal and interest
For the purposes of this assessment, 'principal' is defined as the fair value of the financial asset on initial
recognition. 'Interest' is defined as consideration for the time value of money and for the credit risk associated
with the principal amount outstanding during a particular period of time and for other basic lending risks and
costs, as well as a profit margin.
In assessing whether the contractual cash flows are solely payments of principal and interest, the Company
considers the contractual terms of the instrument. This includes assessing whether the financial asset contains a
contractual term that could change the timing or amount of contractual cash flows such that it would not meet
this condition. In making this assessment, the Company considers:
- contingent events that would change the amount or timing of cash flows;
- terms that may adjust the contractual coupon rate, including variable interest rate features;
- prepayment and extension features; and
- terms that limit the Company's claim to cash flows from specified assets
A prepayment feature is consistent with the solely payments of principal and interest criterion if the prepayment
amount substantially represents unpaid amounts of principal and interest on the principal amount outstanding,
which may include reasonable additional compensation for early termination of the contract. Additionally, for a
financial asset acquired at a significant discount or premium to its contractual par amount, a feature that pertains
or requires prepayment at an amount that substantially represents the contractual par amount plus accrued (but
unpaid) contractual interest (which may also include reasonable additional compensation for early termination)
is treated as consistent with this criterion if the fair value of the prepayment feature is insignificant at initial
recognition.
Financial liabilities: Classification, subsequent measurement and gains and losses
Financial liabilities are classified as measured at amortised cost or FVTPL. A financial liability is classified as at
FVTPL if it is classified as held for trading,or if it is a derivative, or it is designated as such on initial recognition.
Financial liabilities at FVTPL are measured at fair value and net gains and losses, including any interest expense,
are recognised in profit or loss. Other financial liabilities are subsequently measured at amortised cost using the
effective interest method. Interest expense and foreign exchange gains and losses are recognised in statement
of profit and loss. Any gain or loss on derecognition is also recognised in statement of profit and loss.
ii) Derecognition
Financial assets:
The Company derecognises a financial asset when the contractual rights to the cash flows from the financial
asset expire, or it transfers the rights to receive the contractual cash flows in a transaction in which substantially
all of the risks and rewards of ownership of the financial asset are transferred or in which the Company neither
transfers nor retains substantially all of the risks and rewards of ownership and does not retain control of the
financial asset.
If the Company enters into transactions whereby it transfers assets recognised on its balance sheet, but retains
either all or substantially all of the risks and rewards of the transferred assets, the transferred assets are not
derecognised.
Financial liabilities:
The Company derecognises a financial liability when its contractual obligations are discharged or cancelled,
or expire.
The Company also derecognises a financial liability when its terms are modified and the cash flows under the
modified terms are substantially different. In this case, a new financial liability based on the modified terms is
recognised at fair value. The difference between the carrying amount of the financial liability extinguished and
the new financial liability with modified terms is recognised in profit or loss.
iii) Offsetting
Financial assets and financial liabilities are offset and the net amount presented in the balance sheet when, and
only when, the Company currently has a legally enforceable right to set off the amounts and it intends either to
settle them on a net basis or to realise the asset and settle the liability simultaneously.
C. Impairment
i) Impairment of financial assets
At each reporting date, the Company assesses whether financial assets carried at amortised cost are credit
impaired. A financial asset is 'credit impaired' when one or more events that have a detrimental impact on the
estimated future cash flows of the financial asset have occurred.
Evidence that a financial asset is credit impaired includes the following observable data:
- significant financial difficulty of the borrower or issuer;
- a breach of contract such as a default or past dues;
- the restructuring of a loan or advance by the Company on terms that the Company would not consider
otherwise;
- it is probable that the borrower will enter bankruptcy or other financial reorganisation; or
- the disappearance of an active market for a security because of financial difficulties.
The Company follows 'simplified approach' for recognition of impairment loss allowance on trade receivables
which do not contain a significant financing component. The application of simplified approach does not require
the Company to track changes in credit risk. Rather, it recognises impairment loss allowance based on lifetime
impairment pattern at each balance sheet date, right from its initial recognition.
Loss allowances for financial assets measured at amortized cost are deducted from the gross carrying amount of
the assets. The gross carrying amount of a financial asset is written off (either partially or in full) to the extent that
there is no realistic prospect of recovery. This is generally the case when the Company determines that the debtor
does not have assets or sources of income that could generate sufficient cash flows to repay the amounts subject
to the write-off. However, financial assets that are written off could still be subject to enforcement activities in
order to comply with the Company's procedures for recovery of amounts due.
The Company measures loss allowances at an amount equal to lifetime expected credit losses, except for the
following, which are measured as 12 month expected credit losses:
- debt securities that are determined to have low credit risk at the reporting date; and
- other debt securities and bank balances for which credit risk (i.e. the risk of default occurring over the
expected life of the financial instrument) has not increased significantly since initial recognition.
Loss allowances for trade receivables and contract assets are always measured at an amount equal to lifetime
expected credit losses.
Lifetime expected credit losses are the expected credit losses that result from all possible default events over the
expected life of a financial instrument.
12-month expected credit losses are the portion of expected credit losses that result from default events that are
possible within 12 months after the reporting date (or a shorter period if the expected life of the instrument is
less than 12 months).
In all cases, the maximum period considered when estimating expected credit losses is the maximum contractual
period over which the Company is exposed to credit risk.
When determining whether the credit risk of a financial asset has increased significantly since initial recognition
and when estimating expected credit losses, the Company considers reasonable and supportable information
that is relevant and available without undue cost or effort. This includes both quantitative and qualitative
information and analysis, based on the Company's historical experience and informed credit assessment and
including forward looking information.
The Company assumes that the credit risk on a financial asset has increased significantly if it is more than
past due.
The Company considers a financial asset to be in default when the borrower is unlikely to pay its credit
obligations to the Company in full, without recourse by the Company to actions such as realising security (if any
is held).
Measurement of expected credit losses
Expected credit losses are a probability weighted estimate of credit losses. Credit losses are measured as the
present value of all cash shortfalls (i.e. the difference between the cash flows due to the Company in accordance
with the contract and the cash flows that the Company expects to receive).
Presentation of allowance for expected credit losses in the balance sheet
Loss allowances for financial assets measured at amortised cost are deducted from the gross carrying amount
of the assets.
Write-off
The gross carrying amount of a financial asset is written off (either partially or in full) to the extent that there is no
realistic prospect of recovery. This is generally the case when the Company determines that the debtor does not
have assets or sources of income that could generate sufficient cash flows to repay the amounts subject to the
write off. However, financial assets that are written off could still be subject to enforcement activities in order to
comply with the Company's procedures for recovery of amounts due.
ii) Impairment of non-financial assets
The recoverable amount of a CGU (or an individual asset) is the higher of its value in use and its fair value less
costs to sell. Value in use is based on the estimated future cash flows, 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 CGU (or the asset).
An impairment loss is recognised if the carrying amount of an asset or CGU exceeds its estimated recoverable
amount. Impairment losses are recognised in the statement of profit and loss. Impairment loss recognised in
respect of a CGU is allocated first to reduce the carrying amount of any goodwill allocated to the CGU, and
then to reduce the carrying amounts of the other assets of the CGU (or group of CGUs) on a pro rata basis.
An impairment loss in respect of assets for which has been recognised in prior periods, the Company reviews
at each reporting date whether there is any indication that the loss has decreased or no longer exists. An
impairment loss is reversed if there has been a change in the estimates used to determine the recoverable
amount. Such a reversal is made 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
recognised.
D. Property, plant and equipment
i) Recognition and initial measurement
Cost of an item of property, plant and equipment comprises its purchase price, including import duties and
non-refundable purchase taxes, after deducting trade discounts and rebates, any directly attributable cost of
bringing the item to its working condition for its intended use.
The cost of a self-constructed item of property, plant and equipment comprises the cost of materials and direct
labour, any other costs directly attributable to bringing the item to working condition for its intended use.
If significant parts of an item of property, plant and equipment have different useful lives, then they are accounted
for as separate items (major components) of property, plant and equipment.
Any gain or loss on disposal of an item of property, plant and equipment is recognised in statement of profit
and loss.
ii) Subsequent expenditure
Subsequent expenditure is capitalised only if it is probable that the future economic benefits associated with the
expenditure will flow to the Company.
E. Revenue
Contract assets and liabilities
Contract assets are recognised when there is excess of revenue earned over billings on contracts. Unbilled
revenue are classified as contract assets when there is conditional right to receive cash as per contractual terms.
The term between invoicing and when payment is due is not significant. As a practical expedient, the Company
does not assess the existence of a significant financing component when the difference between payment and
transfer of deliverables is one year or less.
When the Company receives consideration from a customer prior to performing services to the customer
under the terms of a contract, the Company records deferred revenue, which represents a contract liability. The
Company recognizes deferred revenue as revenue after the Company has performed services to the customer
and all revenue recognition criteria are met.
Contract assets and contract liabilities are reported in a net position on an individual contract basis at the end of
each reporting period. Contract assets are classified as current on the balance sheet when the Company expects
to complete the related performance obligations and invoice the customers within one year of the balance
sheet date, and as long-term when the Company expects to complete the related performance obligations and
invoice the customers more than one year out from the balance sheet date. Contract liabilities are classified as
current on the balance sheet when the revenue recognition associated with the related customer payments and
invoicing is expected to occur within one year of the balance sheet date and as long-term when the revenue
recognition associated with the related customer payments and invoicing is expected to occur in more than one
year from the balance sheet date.
Contract acquisition/fulfilment costs are generally expensed as incurred except which meet the criteria for
capitalisation. The assessment of this criteria requires the application of judgement, in particular when considering
if costs generate or enhance resources to be used to satisfy future performance obligations and whether costs
are expected to be recovered. Applying the practical expedient, the entity recognises the incremental costs of
obtaining contracts as an expense when incurred if the amortisation period of the assets that the entity otherwise
would have recognised is one year or less.
The Company records reimbursable out of pocket expenses in both revenue and respective expense head.
The goods or services giving rise to the out-of-pocket costs do not transfer a good or service to the customer.
Rather, the goods or services are used or consumed by the entity in fulfilling its performance obligation to the
customer. Therefore, out-of-pocket costs (e.g. travel, meals, lodging) and the reimbursements of such costs from
the customer are presented on a gross basis and are included as part of transaction price.
Government grants:
Export benefits in the nature of duty drawback are accounted as income when there is no uncertainty in receiving
the same duly considering the realisability.
F. Employee benefits
Short-term employee benefit obligations are measured on an undiscounted basis and are expensed as the
related service is provided. A liability is recognised for the amount expected to be paid, if the Company has a
present legal or constructive obligation to pay this amount as a result of past service provided by the employee,
and the amount of obligation can be estimated reliably.
In case of defined benefit plans, remeasurement of the net defined benefit liability, which comprise actuarial
gains and losses, the return on plan assets (excluding interest) and the effect of the asset ceiling (if any,
excluding interest), are recognised in OCI. The Company determines the net interest expense/(income) on the
net defined benefit liability/(asset) for the period by applying the discount rate used to measure the defined
benefit obligation at the beginning of the annual period to the then-net defined benefit liability/(asset), taking
into account any changes in the net defined benefit liability/(asset) during the period as a result of contributions
and benefit payments. Net interest expense and other expenses related to defined benefit plans are recognised
in statement of profit and loss.
G. Income taxes
i) Current tax
Current tax comprises the expected tax payable or receivable on the taxable income or loss for the year and
any adjustment to the tax payable or receivable in respect of previous years. The amount of current tax reflects
the best estimate of the tax amount expected to be paid or received after considering the uncertainty, if any,
related to income taxes. It is measured using tax rates (and tax laws) enacted or substantively enacted by the
reporting date.
Current tax assets and current tax liabilities are offset only if there is a legally enforceable right to set off the
recognised amounts, and it is intended to realise the asset and settle the liability on a net basis or simultaneously.
ii) Deferred tax
Deferred tax is recognised in respect of temporary differences between the carrying amounts of assets and
liabilities for financial reporting purposes and the corresponding amounts used for taxation purposes.
Deferred tax is measured at the tax rates that are expected to apply to the period when the asset is realised or
the liability is settled, based on the laws that have been enacted or substantively enacted by the reporting date.
The measurement of deferred tax reflects the tax consequences that would follow from the manner in which the
Company expects, at the reporting date, to recover or settle the carrying amount of its assets and liabilities.
Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset current tax liabilities
and assets, and they relate to income taxes levied by the same tax authority on the same taxable entity, or on
different tax entities, but they intend to settle current tax liabilities and assets on a net basis or their tax assets and
liabilities will be realised simultaneously.
H. Segment reporting
Operating segments are reported in a manner consistent with the internal reporting provided to the Chief
Operating Decision Maker (CODM) of the Company. The CODM is responsible for allocating resources and
assessing performance of the operating segments of the Company. For the disclosure on reportable segments
see Note 24.
I. Cash and cash equivalents
Cash and Cash equivalents for the purpose of Cash Flow Statement comprise cash on hand, balances with
bank and bank deposits having original maturity of less than 3 months.
J. Earnings per share
i) Basic earnings per share
Basic earnings per share is calculated by dividing:
a. the net profit attributable to owners of the Company.
b. by the weighted average number of equity shares outstanding during the financial year, adjusted for bonus
elements in equity shares issued during the year and excluding treasury shares.
ii) Diluted earnings per share
Diluted earning per share adjusts the figures used in the determination of basic earnings per share to take into
account:
a. the after income tax effect of interest and other financing costs associated with dilutive potential equity
shares, and
b. the weighted average number of additional equity shares that would have been outstanding assuming the
conversion of all dilutive potential equity shares.
K. Investment in subsidiaries
A subsidiary is an enterprise in which the Company has control. Control is achieved when the Company:
• Has power over the investee;
• Is exposed, or has rights, to variable returns from its involvement with the investee; and
• Has the ability to use its power to affect its returns.
The Company reassesses whether or not it controls an investee if facts and circumstances indicate that there are
changes to one or more of the three elements of control listed above.
Investment in subsidiaries is stated at cost less any impairment in net recoverable value that has been recognized
in profit or loss.
32. On March 28, 2024 the Company (the "acquirer") had entered into a Share Purchase Agreement (SPA) for the acquisition of Decision Point Private Limited and its subsidiaries (the "DP Group” or the "acquiree")
(a Company in the space of AI- Led Business Transformation and Revenue Growth Management). The Consideration paid in cash for acquisition on July 01, 2024 (net of working capital) (acquisition date) of 70% of the paid-up
equity capital of Decision Point Private Limited amounted to '3,315 million. The consideration for the acquisition of remaining 30% stake would be based on the conditions and valuation principles in the SPA in one or more tranches
before the close of June 2026 (forward contract). The fair value of such forward contract recognized as a derivative asset in accordance with Ind AS 109 on acquisition date amounted to '849.00 million.
As at March 31, 2025, the derivative assets are remeasured at fair value and accordingly a loss of '290.61 million was recognized in the Statement of Profit and Loss for the year ended March 31, 2025.
33. Additional Regulatory Information required by Schedule III
(i) The Company does not have any Benami property, where any proceeding has been initiated or pending against the Company for holding any Benami property.
(ii) Based on the information available with the Company and relying on the publicly available information at the time of compilation in respect of companies struck off under section 248 of the Companies Act, 2013 or section
560 of the Companies Act, 1956, there are no amounts/transactions to disclose as required under B(L)(ix) of Part I of Schedule III to the Companies Act, 2013.
(iii) The Company has not revalued its property, plant and equipment (including right-of-use assets) or
intangible assets or both during the current or previous year.
(iv) The Company has not traded or invested in Crypto currency or Virtual Currency during the current or
previous year.
(v) The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including
foreign entities (Intermediaries) with the understanding that the Intermediary shall:
(a) d irectly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by
or on behalf of the company (Ultimate Beneficiaries); or
(b) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.
(vi) The Company has not received any fund from any person(s) or entity(ies), including foreign entities
(Funding Party) with the understanding (whether recorded in writing or otherwise) that the Company shall:
(a) d irectly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by
or on behalf of the Funding Party (Ultimate Beneficiaries) or
(b) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
(vii) The Company has not entered into any such transaction which is not recorded in the books of accounts that
has been surrendered or disclosed as income during the current or previous year in the tax assessments
under the Income Tax Act, 1961 (such as, search or survey or any other relevant provisions of the Income
Tax Act, 1961).
(viii) The Company has not been declared wilful defaulter by any bank or financial institution or government or
any government authority.
(ix) The Company has complied with the number of layers prescribed under the Companies Act, 2013, read
with the Companies (Restriction on number of layers) Rules, 2017.
(x) The Company has not entered into any scheme of arrangement which has an accounting impact on
current or previous financial year.
(xi) The Company does not have any charges or satisfaction which is yet to be registered with Registrar of
Companies (ROC) beyond statutory period.
34. Subsequent Events
There are no subsequent events that have occurred after the reporting period till the date of this standalone
financial statements.
35. The figures for the previous year have been reclassified/regrouped wherever necessary for better
understanding and comparability.
For Price Waterhouse Chartered Accountants LLP For and on behalf of the Board of Directors of
Firm registration number: 012754N/N500016 Latent View Analytics Limited
CIN No: L72300TN2006PLC058481
Arun Kumar R Pramadwathi Jandhyala A.V. Venkatraman Rajan Sethuraman
Partner Whole Time Director Chairperson Chief Executive Officer
Membership No.: 211867 DIN No: 00732854 DIN No: 01240055
Chennai Chennai Bengaluru
Rajan Bala Venkatesan Srinivasan. P
Chief Financial Officer Company Secretary
Place: Chennai Chennai Chennai
Date: May 02, 2025 Date: May 02, 2025
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