Page 287 - Index

Mission-Critical Decisions, Made with Confidence.
Particulars As at
December 31, 2024
(C lakh)
As at
December 31, 2023
Bifurcation of lease liability:
Non-current 18,504 1,775
Current 4,220 1,351
Total 22,724 3,126
41.2 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 2,233 1,351
Later than one year and not later than five years 17,149 2,075
Later than five years 15,710 -
Total 35,092 3,426
The Company 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 2,457 lakh (Previous year: C 44 lakh) for the year.
The Company has recognised interest on lease liability of C 311 lakh (Previous year: C 328 lakh) under finance costs.
The aggregate depreciation on ROU assets has been included under ‘Depreciation and amortisation expenses’ in the
Statement of Profit and Loss (refer to note 33).
42. Gratuity and other post employment benefits plans
In accordance with the Payment of Gratuity Act, 1972, the Company provides for gratuity, a defined benefit retirement
plan covering eligible employees (completed continuous services of five years or more) of the Company. 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 Company.
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.
Net employee benefit expense recognised in statement of Profit and Loss and OCI:
Particulars Year ended
December 31, 2024
(C lakh)
Year ended
December 31, 2023
Employee benefits expense:
Current service cost 932 838
Interest cost on defined benefit obligation 266 221
Adjustment (3) (7)
Net impact on profit (before tax) 1,195 1,052
Remeasurement of the net defined benefit plans:
Re-measurement - actuarial (gain)/loss 390 146
Expected return on plan assets 266 (31)
Net impact on OCI (before tax) 656 115
Annual Report 2024
285
Financial Statements