Page 216 - Index

Consolidated
40. Leases
The Group has elected not to recognise right of use assets and lease liabilities for short term leases (lease term of 12
months or less) and leases of low-value and has recognised the lease payments for such leases as an expense over
the lease term.
40.1 The following is the movement in lease liabilities :
Particulars Opening balance 4,732 8,346
Adjustments - 107
Add: Additions 21,877 2,051
Add : Forex adjustment 37 (4)
Add: Interest recognised during the year 403 366
Closing balance 25,000 4,732
As at
December 31, 2024
Bifurcation of lease liability:
(C lakh)
As at
December 31, 2023
Less: Modification of lease term (7) (262)
Less: Deductions (23) -
Less: Payment (including interest on lease liabilities) (2,019) (5,872)
Non-current 20,157 3,076
Current 4,843 1,656
Total 25,000 4,732
40.2 The table below provides details regarding the contractual maturities of lease liabilities as at December 31, 2024 on
an undiscounted basis:
Particulars Year ended
December 31, 2024
(C lakh)
Year ended
December 31, 2023
Future minimum lease payments:
Not later than one year 2,943 1,563
Later than one year and not later than five years 18,921 2,075
Later than five years 15,710 -
Total 37,574 3,638
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.
Rental expense recorded for short term leases as per Ind AS 116 was C 4,028 lakh (Previous year C 727 lakh) for the year.
The Group has recognised interest on lease liability of C 406 lakh (Previous year C 366 lakh) under finance costs.
The aggregate depreciation on ROU assets has been included under depreciation expense in the Statement of Profit
and Loss.
41. Gratuity and other post employment benefits plans
In accordance with the Payment of Gratuity Act, 1972 the Group provides for gratuity, a defined benefit retirement
plan covering eligible employees (completed continuous services of five years or more) of the Group. The Gratuity Plan
provides a lump-sum payment to vested employees at retirement, death, incapacitation or termination of employment
at fifteen days salary of an amount based on the respective employee’s salary and tenure of employment with the Group.
The following tables summarise the components of net benefit expense recognised in the Statement of Profit and
Loss and the funded status and amounts recognised in the balance sheet for the respective plans.
214 Annual Report 2024