Page 76 - Crisil Annual Report 2023

or construction less accumulated amortisation and impairment losses, if any. The estimated useful lives of intangible assets and the amortisation period are reviewed at the end of each financial year.
During the year, the Group capitalised C 65.01 crore to its gross block. Capitalised assets includes office equipment, computers, software, furniture, fixtures, vehicles and leasehold improvements.
The Group expects to fund its investments in fixed assets and infrastructure from internal accruals and liquid assets.
At the end of the year, the Group’s investments in property, plant, equipment, right of use assets and other intangible assets were as follows:
Integrity Insight Impact
as fair value through profit or loss (FVTPL). The Group’s treasury was C 1,146.99 crore as at December 31, 2023, as against C 814.75 crore in the previous year. Increase in treasury is in line with strong business performance.
Consolidated treasury position (C crore) 219.44
149.55 778.00
Details
As at December 31,
2023
2022
725.51
511.67
213.84
Carrying value
Gross block
Less: Accumulated depreciation Net block
2. Goodwill on consolidation
(C crore)
818.28 579.13 239.15
151.53 170.57
492.65
Fixed deposits Cash and bank balance Mutual funds
2023
2022
Goodwill on consolidation represents excess of purchase consideration over the net asset value of acquired subsidiaries on the date of such acquisition. Goodwill is tested for impairment annually or more frequently, if there are indications of impairment. For goodwill impairment testing, the carrying amount of the cash generating unit (CGU) included allocated goodwill is compared with its recoverable amount by the Group.
3. Financial assets
A. Investments and treasury: The Group’s investments and treasury comprises of equity investments, investments in debt mutual funds, fixed deposits and cash and bank balances.
a. Equity investments: All equity investments (quoted and unquoted) are measured at fair value through other comprehensive income (FVTOCI).
b. Current investments and treasury: The Group’s investments in debt mutual funds are classified
c. The Group maintains adequate amount of liquidity/treasury to meet strategic and growth objectives. It has ensured a balance between earning adequate returns on liquidity/treasury assets and the need to cover financial and business risks. Cash and bank balance includes Indian and overseas bank accounts. The Group’s treasury policy calls for investing surplus in combination of fixed deposits with scheduled banks and debt mutual funds.
B. Loans
Loan represent loan given to employees totaling C 3.88 crore as at December 31, 2023, as against C 3.23 crore in the previous year.
C. Trade receivables
Trade receivables (including unbilled receivables) at gross level were C 708.32 crore as at December 31, 2023, compared with C 782.64 crore in the previous year. Trade receivables constitute 23% of revenue compared with 28% of revenue during the previous year.
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Annual Report 2023