Page 67 - Index

Mission-Critical Decisions, Made with Confidence.
The Group believes the outstanding trade
receivables are recoverable and it has adequate
provision for doubtful trade receivables. Provision
for doubtful trade receivables balance was C 17.03
crore as at December 31, 2024, as against C 18.81
crore in the previous year. Provision for doubtful
trade receivables was reduced as a percentage
of revenue from 0.6% to 0.5% for the year ended
December 31, 2024.
D. Other financial assets
Other financial assets comprise of security deposits,
long term fixed deposit. Other financial assets
amounted to C 60.46 crore as at December 31, 2024,
compared with C 50.12 crore in the previous year.
4. Deferred tax assets
Deferred tax assets and liability comprise of deferred
taxes on property, plant and equipment, right of use
assets, leave encashment, accrued compensation to
employees, gratuity, fair valuation of quoted/unquoted
investments, gains / losses on forward contract,
business combination, provision for doubtful trade
receivables, and deferred initial rating fees. The
Group’s net deferred tax assets totaling to C 76.41
crore as at December 31, 2024, as against C 85.73
crore in the previous year. Deferred tax assets are
recognised only to the extent that there is reasonable
certainty that sufficient future taxable income will be
available against which such deferred tax assets can
be realised.
5. Income Tax assets
Advance income tax asset was C 248.47 crore as at
December 31, 2024, compared with C 164.77 crore in
the previous year. Tax liabilities stood at C 1.65 crore
as at December 31, 2024, compared with C 3.89 crore
in the previous year.
6. Other assets
Other assets mainly comprise advances to vendors,
accrued revenue, prepaid expenses and tax credit
receivable. Other assets amounted to C 211.73 crore
as at December 31, 2024, compared with C 228.98 crore
in the previous year.
7. Equity share capital
The Company’s authorised capital is C 19.50 crore,
comprising 195,000,000 equity shares of C 1 each.
During the year, the Company has issued and allotted
16,185 equity shares to eligible employees on exercise
of options granted under Employee Stock Option
Scheme (ESOS) 2014. Consequently, the issued,
subscribed and paid-up capital increased from
73,113,605 to 73,129,790 equity shares of C 1 each.
8. Other equity
Other equity was C 2,557.51 crore as at December 31,
2024, as against C 2,181.95 crore in the corresponding
period of the previous year. Other equity comprises
reserves and surplus and other comprehensive
income (OCI).
9. Financial liabilities
A. Trade payables
Trade payables as at December 31, 2024, were C 185.38
crore as against C 142.56 crore in the previous year.
Trade payables includes amount payable to vendors
for the supply of goods and services.
B. Other financial liabilities
Other financial liabilities as at December 31, 2024,
stood at C 454.26 crore as against C 409.81 crore in
the previous year. Other financial liabilities includes
dues to employees, unclaimed dividend and fair value
of forward contracts.
10. Provisions and other liabilities
Provisions represent funds put aside by the Group to
cover anticipated obligation in the future as a result of
past events.
A. Provision for employee benefits
The overall liability was C 158.77 crore as at December
31, 2024, compared with C 141.49 crore in the
previous year.
B. Other liabilities
Other non-financial liabilities mainly includes
unearned revenue and statutory liabilities. Unearned
revenue represents fee received in advance for which
services have not been rendered. Other liabilities
were C 326.90 crore as against C 363.06 crore in the
previous year.
Annual Report 2024
65
Statutory Reports