1. On June 14, 2021, L&T Infotech Financial Services Technologies Inc. ("LTIFST") bought back 33.33% of its total equity capital (i.e. 200,000 shares) from its Shareholder (the Company) for a consideration of H1,732 Million against cost of H560 Million.

2. The Company acquired "Cuelogic Technologies Private Limited" on July 1, 2021 (refer note 44(II)).

3. The Company has invested in Philippines Govt. Treasury notes and have deposited same with local Securities and Exchange Commission, as per Corporation Code of Philippines-126. The Company has not held this investment primarily for the purpose of being traded and does not intend to sell or consume for normal business operation. The Company intends to keep the deposit till the existence of its operations in Philippines.

4. Liquidated w.e.f. January 25, 2023.

5. Liquidated w.e.f. September 13, 2022.

6. During the quarter ended June 30, 2022, the Company has acquired a 6.64% stake in COPE Healthcare Consulting Inc. ('COPE') for a consideration of H343 Million pursuant to a Stock Purchase Agreement entered on April 4, 2022 to expand its healthcare business. COPE is a healthcare consulting, implementation and co-management leader in population health management, value-based care and payment, workforce development and data analytics. The company has made an irrevocable election to present in other comprehensive income subsequent changes in the fair value of this investment as this is strategic investment and is not held for trading.

7. Impairment up to March 31, 2023 - Nil (Previous year: Nil)

Employee Restricted Stock Purchase Plan 2012 ('ERSP 2012')

Employee Restricted Stock Purchase Plan ('ERSP') 2012 was instituted with effect from July 16, 2012 to issue equity shares of nominal value of H10 each. Shares under this program are granted to employees at an exercise price of not less than H10 per equity share or such higher price as determined by the Nomination and Remuneration Committee. Shares shall vest over such term as determined by the Nomination and Remuneration Committee not exceeding ten years from the date of the grant. All shares will have a minimum lock in period of one year from the date of allotment.

Employee Stock Option Plan 2021 ('ESOP 2021')

On May 22, 2021, the shareholders of the Company have approved the Employee Stock Option Plan 2021 ('ESOP 2021') for the issue of up to 2,000,000 options (including the unutilized options under ERSP 2012) to employees of the Company. The Nomination and Remuneration Committee ('NRC') administers the plan through a trust established specifically for this purpose, called the LTIMindtree Employee Welfare Trust (Formerly Mindtree Employee Welfare Trust) ('ESOP Trust').

The ESOP Trust shall subscribe to the equity shares of the Company using the proceeds from loans obtained from the Company, other cash inflows from allotment of shares to employees under the ESOP Plan, to the extent of number of shares as is necessary for transferring to the employees. The NRC shall determine the exercise price which will not be less than the face value of the shares. Options under this program are granted to employees at an exercise price periodically determined by the NRC. All stock options have a four-year vesting term. The options vest and become fully exercisable at the rate of 25% each over a period of 4 years from the date of grant. Each option is entitled to 1 equity share of H10 each. These options are exercisable within 6 years from the date of vesting.

VI) The aggregate number of equity shares allotted as fully paid up by way of bonus shares in immediately preceding five years ended March 31, 2023 are Nil (previous period of five years ended March 31, 2022 - Nil)

VII) An aggregate of 120,397,266 equity shares of H1 each were issued pursuant to amalgamation, without payment being received in cash in immediately preceding five years ended March 31, 2023 (previous period of five years ended March 31, 2022 - Nil). (Refer note 44(I)(i))

VIII) During the year ended March 31, 2023, the Company has distributed interim dividend of H20 per share (Previous year: H25 per share) and no special dividend (Previous year: H10 per share).

IX) Weighted average share price at the date of exercise for stock options exercised during the year is H4,761 per share (Previous year: H 4,960 per share).

X) The fair value has been calculated using the Black-Scholes Option Pricing model and significant assumptions and inputs to estimate the fair value of options granted during the year are as follows:

1. Capital reserve on business combination represents the gains of capital nature which mainly include the excess of value of net assets acquired over consideration paid by the Company for business amalgamation transactions in earlier years. It also represents capital reserve on business combination which arises on transfer of business between entities under common control.

2. I t represents a sum equal to the nominal value of the share capital extinguished on buyback of Company's own shares pursuant to Section 69 of the Companies Act, 2013.

3. Share premium includes.

a) The difference between the face value of the equity shares and the consideration received in respect of shares issued;

b) The fair value of the stock options which are treated as expense, if any, in respect of shares allotted pursuant to Stock Options Scheme;

c) Incremental directly attributable costs incurred in issuing or acquiring an entity's own equity instruments.

4. The Company created a General reserve in earlier years pursuant to the provisions of the Companies Act, 1956 where in certain percentage of profits was required to be transferred to General reserve before declaring dividends. As per Companies Act, 2013, the requirements to transfer profits to General reserve is not mandatory. General reserve is a free reserve available to the Company.

5. It represents the fair value of services received against employees stock options.

6. The Company has created Special Economic Zone reinvestment reserve out of the profit of eligible SEZ units in terms of the provisions of Section 10AA(1)(II) of the Income Tax Act, 1961.

7. The hedging reserve represents the cumulative effective portion of gains or losses arising on changes in fair value of designated portion of hedging instruments entered into for cash flow hedges. Such gains or losses will be reclassified to statement of profit and loss in the period in which the hedged transaction occurs.

8. Retained earnings represents the undistributed profits of the Company accumulated as on Balance Sheet date.

*Includes disputed dues provided pursuant to unfavorable orders received from the tax authorities of H108 Million (Previous year: H103 Million) against which the Company has preferred an appeal with the relevant authority. In respect of the provisions of Ind AS 37, the disclosures required have not been provided pursuant to the limited exemption provided under paragraph 92 of Ind AS 37.

#During the year ended March 31, 2018, the Company received an order passed under Section 7A of the Employees Provident Fund & Miscellaneous Provisions Act, 1952 from Employees Provident Fund Organization (EPFO) claiming provident fund contribution aggregating to H250 Million for dues up to June 2016, and excludes any additional interest that may be determined by the authorities from that date till resolution of the dispute, on (a) full salary paid to International Workers and (b) special allowance paid to employees. Based on a legal advice obtained, the Company has assessed that it has a legitimate ground for appeal, and has contested the order by filing an appeal with the Employees' Provident Funds Appellate Tribunal. In view of the changes in the regulations with the new wage code and social security code, the Company, supported by legal advice, continues to re-estimate the probability of any liability arising from this matter and has accordingly recognized a provision of H758 Million (Previous year: H709 Million), including estimated interest, as on the date of the balance sheet.

Performance obligations and remaining performance obligations:

The remaining performance obligation disclosure provides the aggregate amount of the transaction price yet to be recognized as at the end of the reporting period and an explanation as to when the Company expects to recognize these amounts in revenue. Applying the practical expedient as given in Ind AS 115, the Company has not disclosed the remaining performance obligation related disclosures for contracts where the revenue recognized is on time and material basis. Remaining performance obligation estimates are subject to change and are affected by several factors, including terminations, changes in the scope of contracts, periodic revalidations, adjustment for revenue that has not materialized and adjustments for currency.

The aggregate value of performance obligations that are completely or partially unsatisfied as at March 31, 2023, other than those meeting the exclusion criteria mentioned above, is H224,518 Million (Previous year: H191,597 Million). Out of this, the Company expects to recognize revenue of around 67% (Previous year: 66%) within the next one year and the remaining thereafter.

1. Includes net gain / (loss) on sale of investments of H1,997 Million (Previous year: H1,799 Million)

2. The Company hedges its operational business exposure on a net basis (i.e. expected revenue in foreign currency less expected expenditure in related currency). The foreign exchange gain reported above includes loss on Derivative financial instrument which are designated as cash flow hedges of H913 Million (Previous year: Gain of H3,234 Million) and as fair value hedges of loss H900 Million (Previous year: Gain of H136 Million).

3. Miscellaneous income includes change in fair value of contingent consideration amounting to credit of H45 Million (Previous year: charge of H113 Million).

1. The Company undertakes R&D activities and incurs qualifying revenue expenditure which is entitled to an additional deduction under UK corporation tax rules. During the year, the Company has claimed R&D tax relief under UK corporation tax rules amounting to H24 Million (Previous year: H30 Million) accounted as a credit to employee benefits expense.

2. During the year, the Company received government grants amounting to H37 Million (Previous year: H6 Million) from governments of various countries on compliance of several employment-related conditions and accordingly, accounted as a credit to employee benefits expense.

Major matters in relation to Income Tax

The Company has received tax demand of H3,095 Million including interest of H212 Million (Previous year: H2,750 Million including interest of H141 Million), on account of disallowance of exemption u/s 10A/10AA on profits earned by STPI Units / SEZ units on onsite export revenue. Further the Company has received tax demand of H782 Million (Previous year: H782 Million) primarily on account of transfer pricing adjustments.

Major matters in relation to Indirect taxes

The Company has received demands of H98 Million (Previous year: H103 Million) on account of disallowance of certain portion of refund applications with respect to accumulated service tax credit in accordance with relevant CENVAT Credit Rules considering them ineligible and not related with output services.

In respect of the above matters, the Company is in appeal against these disallowances before the relevant Authorities.

The Company believes that its position is likely to be upheld by appellate authorities and considering the facts, the ultimate outcome of these proceedings is not likely to have material adverse effect on the results of operations or the financial position.

36. Estimated amount of contracts remaining to be executed on capital account (net of advances) and not provided for: H995 Million (Previous year: H4,801 Million).

37. EMPLOYEE BENEFITS

I) General descriptions of defined benefit plans:

i) Gratuity plan

The Company provides for gratuity, a defined benefit retirement plan ("the Gratuity Plan") covering eligible Indian employees of LTIMindtree. The Gratuity Plan provides a lumpsum payment to vested employees at retirement, death, incapacitation or termination of employment, of an amount based on the respective employee's salary and the tenure of employment with the Company. The Company contributes gratuity liabilities to the LTIMindtree Employees' Group Gratuity Assurance Scheme and Mindtree Limited Employees Gratuity Fund Trust. Trustees administer contributions made to the Trusts and contributions are invested in a scheme with the Life Insurance Corporation of India, ICICI Prudential Life Insurance Company and SBI Life Insurance Company as permitted by Indian law.

ii) Post-retirement medical benefit plan

The post-retirement medical benefit plan provides for reimbursement of health care costs to certain categories of employees post their retirement. The reimbursement is subject to an overall ceiling limit sanctioned at the time of retirement. The ceiling limits are based on cadre of the employee at the time of retirement.

iii) Provident fund plan

The Company's provident fund plan is managed by its holding company through a Trust permitted under the Provident Fund Act, 1952. The plan envisages contribution by employer and employees of the Company and guarantees interest at the rate notified by the Provident Fund Authority. The contribution by employer and employee together with interest are payable at the time of separation from service or retirement whichever is earlier. The benefit under this plan vests immediately on rendering of service.

The interest payment obligation of trust managed provident fund is assumed to be adequately covered by the interest income on long-term investments of the fund. Any shortfall in the interest income over the interest obligation is recognized immediately in the statement of profit and loss. Any loss arising out of the investment risk and actuarial risk associated with the plan is also recognized as actuarial loss in the period in which such loss occurs. Further, Nil has been provided for year ending March 31, 2023 and March 31, 2022 based on actuarial valuation towards the future obligation arising out of interest rate guarantee associated with the plan.

In respect of employees of erstwhile Mindtree Limited monthly contributions were contributed to Employees' Provident Fund Organization (EPFO) till November 30, 2022. From December 1, 2022, the amount is contributed to the Trust.

*The Company has made an irrevocable election to present in other comprehensive income subsequent changes in the fair value of these

investments as these are strategic investments and are not held for trading.

One percentage point change in the unobservable inputs used in fair valuation of Level 3 assets and liabilities does not have a significant

impact on the value.

The following methods and assumptions were used to estimate the fair values:

i) The fair value of the quoted bonds and mutual funds are based on price quotations at reporting date.

ii) The fair values of the unquoted equity and preference shares have been estimated using a DCF model. The valuation requires management to make certain assumptions about the model inputs, including forecast cash flows, discount rate, credit risk and volatility / the probabilities of the various estimates within the range can be reasonably assessed and are used in management's estimate of fair value for these unquoted investments.

iii) Mark to market on forward covers and embedded derivative instruments is based on forward exchange rates at the end of reporting period and discounted using G-sec rate plus applicable spread.

III) Financial risk management

The Company's activities expose it to a variety of financial risks - currency risk, interest rate risk, credit risk and liquidity risk. The Company's primary focus is to foresee the unpredictability of financial markets and seek to minimize the potential adverse effects on its financial performance. The primary market risk to the Company is foreign exchange risk. The Company uses derivative financial instruments to mitigate the risks arising out of foreign exchange related exposures. The Company's exposure to credit risk is influenced mainly by the individual characteristic of each customer and the concentration of risk from the top few customers. The Board of Directors reviews and agrees policies for managing each of these risks, which are summarized below:

i) Currency risk

The Company operates in multiple geographies and contracts in currencies other than the domestic currency exposing it to risks arising from fluctuation in the foreign exchange rates. The Company uses derivative financial instruments to mitigate foreign exchange related exposures. All derivative activities for risk management purposes are carried out by specialist teams that have the appropriate skills, experience and supervision. It is the Company's policy that no trading in derivative for speculative purposes may be undertaken.

The Company's revenues are principally in foreign currencies and the maximum exposure is in US dollars.

The Board of Directors of the Company has approved the financial risk management policy covering management of foreign currency exposures. The treasury department monitors the foreign currency exposures and enters into appropriate hedging instruments to mitigate its risk. The Company hedges its exposure on a net basis (i.e., expected revenue in foreign currency less expected expenditure in related currency). Consequently, the Company uses derivative financial instruments, such as foreign exchange forward contracts and option contracts, designated as cash flow hedges and fair value hedges to mitigate the risk of changes in foreign currency exchange rates in respect of its forecasted cash flows and on balance sheet exposures.

The details in respect of the outstanding foreign exchange forward contracts and option contracts are given under the derivative financial instruments section below.

I n respect of the Company's forward and options contracts, a 1% decrease / increase in the respective exchange rates of each of the currencies underlying such contracts would have resulted in:

a) an approximately H363 Million increase and H363 Million decrease in the Company's net profit in respect of its fair value hedges and H3,284 Million increase and H3,284 Million decrease in the Company's effective portion of cash flow hedges as at March 31, 2023;

b) an approximately H226 Million increase and H226 Million decrease in the Company's net profit in respect of its fair value hedges and H2,594 Million increase and H2,594 Million decrease in the Company's effective portion of cash flow hedges as at March 31, 2022.

out of the market factors like exchange rates on a regular basis. The counterparty in these derivative instruments is a bank and the Company considers the risks of non-performance by the counterparty as non-material. The Company has considered the effect of changes, if any, in both counterparty credit risk and its own credit risk in assessing hedge effectiveness and measuring hedge ineffectiveness.

*Other currencies include currencies such as Emirati Dirham, Australian $, Canadian $, South African Rand, Singapore $, Norwegian Krone, etc.

As at March 31,2023, every 1 % increase / decrease in the respective foreign currencies compared to functional currency of the Company would result in increase / decrease in the Company's profit before taxes for the year by approximately 1.16% and (1.16)% respectively.

As at March 31,2022, every 1 % increase / decrease in the respective foreign currencies compared to functional currency of the Company would result in increase / decrease in the Company's profit before taxes for the year by approximately 0.84% and (0.84)% respectively.

A) Derivative Financial Instruments

The Company is exposed to foreign currency fluctuations on foreign currency assets / liabilities and certain Highly Probable Forecast Exposures (HPFE) denominated in foreign currency. The Company follows established risk management policies, including the use of derivatives to hedge foreign currency assets / liabilities and HPFE. The Company regularly reviews its foreign exchange forward and option positions both on a standalone basis and in conjunction with its underlying foreign currency related exposures. The Company monitors the potential risk arising

Actual future gains and losses associated with forward contracts designated as cash flow hedge may differ materially from the sensitivity analysis performed as at March 31, 2023 and March 31, 2022 due to the inherent limitations associated with predicting the timing and amount of changes in foreign currency exchanges rates and the Company's actual exposures and position.

ii) Interest risk

Interest rate risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company has no interest rate risk with respect to borrowings as at March 31, 2023 and March 31, 2022.

iii) Credit risk

Credit risk refers to the risk of default on its obligation by a counterparty resulting in a financial loss. The carrying amount of all financial assets represents the maximum credit exposure. The maximum exposure to credit risk was H154,117 Million and H142,095 Million as at March 31, 2023 and March 31, 2022 respectively being the total of the carrying amount of investments, trade receivables, unbilled revenue, cash and other bank balances and all other financial assets.

The principal credit risk that the Company exposed to is non-collection of trade receivable and late collection of receivable and on unbilled revenue leading to credit loss. The risk is mitigated by reviewing creditworthiness of the prospective customers prior to entering into contract and post contracting, through continuous monitoring of collections by a dedicated team.

The Company makes adequate provision for non-collection of trade receivable and unbilled receivables. Further, the Company has not suffered significant payment defaults by its customers. The Company has considered the latest available credit-ratings of customers to ensure the adequacy of allowance for expected credit loss towards trade and other receivables.

In addition, for delay in collection of receivable, the Company has made a provision for Expected Credit loss ('ECL') based on an ageing analysis of its trade receivable and unbilled revenue. The Company has used a practical expedient by computing the expected credit loss allowance for trade receivables and unbilled revenue based on a provision matrix. The provision matrix takes into account historical credit loss experience and adjusted for forward-looking information.

The Company's exposure to credit risk is influenced mainly by the individual characteristic of each customer and the concentration of risk from the top few customers. Exposure to customers is diversified and the percentage of revenue from its top five customers is 25.97% for 2022-23 (25.38% for 2021-22). No customer accounted for more than 10% of the trade receivables as at March 31, 2023 and March 31, 2022.

ECL allowance for non-collection and delay in collection of receivable and unbilled revenue, on a combined basis was H1,961 Million and H1,311 Million for the financial years 2022-23 and 2021-22 respectively. The movement in allowance for doubtful debts comprising provision for both non-collection and delay in collections of receivable and unbilled revenue is as follows:

The Company is also exposed to counter-party risk in relation to financial instruments taken to hedge its foreign currency risks. The counter-parties are banks and the Company has entered into contracts with the counter-parties for all its hedge instruments and in addition, entered into suitable credit support agreements to limit counter party risk where necessary.

The Company's investments primarily include investment in mutual fund units, quoted bonds, commercial papers, non-convertible debentures, deposits with banks and financial institutions. The Company mitigates the risk of counter-party failure by investing in mutual fund schemes with large assets under management, investing in debt instruments issued with sound credit rating and placing corporate deposits with banks and financial institutions with high credit ratings assigned by domestic and international credit rating agencies. The Company does not expect any losses from non-performance by these counterparties, and does not have any significant concentration of exposures to specific industry sectors.

Credit risk on cash and cash equivalents is limited as the Company generally invest in deposits with banks and financial institutions with high ratings assigned by international and domestic credit rating agencies and analyzing market information on a continuous and evolving basis. Ratings are monitored periodically and the Company has considered the latest available credit ratings as well any other market information which may be relevant at the date of approval of these financial statements.

iv) Liquidity risk

Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they become due. The Company's treasury department is responsible for liquidity, funding, investment as well as settlement management. Surplus funds are invested in non-speculative financial instruments that include highly liquid funds and corporate deposits. Also, the Company has unutilized credit limits with banks.

44. BUSINESS COMBINATION AND ACQUISITIONS 44.(I)Business Combination under Common Control

(i) Amalgamation of Mindtree Limited ('Amalgamating Company') with the Company

The Board of Directors of the Company, in its meeting held on May 6, 2022, approved The Scheme of Amalgamation and Arrangement under Sections 230 - 232 and other applicable provisions of the Companies Act, 2013 for amalgamation of Mindtree Limited ('Amalgamating Company') with the Company ('Scheme').

The aforesaid Scheme was sanctioned by Hon'ble National Company Law Tribunal (NCLT) Mumbai Bench vide order dated September 19, 2022 and Bengaluru Bench vide order dated November 4, 2022 and November 10, 2022. The Scheme has become effective on November 14, 2022 upon filing of the certified copy of the orders passed by NCLT with the relevant Registrar of Companies. In terms of the Scheme, the name of the Company has been changed from 'Larsen & Toubro Infotech Limited' to 'LTIMindtree Limited' w.e.f., November 15, 2022 and all the assets, liabilities, reserves and surplus of the Amalgamating Company have been transferred to and vested in the Company. The Appointed Date of the Scheme is April 1, 2022.

Accounting Treatment

The amalgamation has been accounted in accordance with "Pooling of interest method" as laid down in Appendix C - 'Business combinations of entities under common control' of Ind AS 103 notified under Section 133 of the Act read with the Companies (Indian Accounting Standards) Rules, 2015, as specified in the scheme, such that:

(a) All assets and liabilities of the Amalgamating Company are stated at the carrying values as appearing in the standalone financial statements of Amalgamating Company.

(b) The identity of the reserves have been preserved and are recorded in the same form and at the carrying amount as appearing in the standalone financial statements of Amalgamating Company.

(c) The inter-company balances between both the companies have been eliminated.

(d) Comparative financial information in the financial statements of the Amalgamated Company has been restated for the accounting impact of merger, as stated above, as if the merger had occurred from the beginning of the comparative period.

The difference, if any, between the amount recorded as share capital issued and the amount of share capital of the Amalgamating Company has been transferred to capital reserve and presented separately from other capital reserves.

Consequent on the Scheme coming into effect and in accordance with the Share Exchange Ratio enshrined in the Scheme, on November 25, 2022 the Company has allotted its 120,417,607 equity shares of H1/- each (fully paid-up) (including 20,341 treasury shares alloted to LTIMindtree Employee Welfare Trust) to the equity shareholders of erstwhile Mindtree Limited as on the 'Record Date' fixed for the said purpose.

(ii) Common Control Business Combination- L&T NXT

The Company entered into a Business Transfer Agreement on May 20, 2021 to acquire the digital transformation business undertaking, incubated and conducted under L&T-NxT ('NxT Digital Business') from Larsen & Toubro Limited (L&T). The Company consummated the above transfer of business on July 1, 2021.

The transaction was recorded in the books of the Company in previous year using the pooling of interests method. Accordingly, the assets and liabilities transferred have been accounted at the carrying amounts as reflected in the books of L&T as at June 30, 2021 and no adjustments have been made to reflect the fair values, or recognize any new assets or liabilities. The difference between the purchase consideration of H2,065 Million and the carrying amounts of the net assets transferred of H209 Million has been adjusted against retained earnings (including capital reserve of H87 Million). The financial information pertaining to the transfer of business is not material and accordingly, financial statements of the Company in respect of the prior periods had not been restated.

(iii) Amalgamation of Syncordis Software Services India Private Limited and Ruletronics Systems Private Limited with Larsen & Toubro Infotech Limited

The Scheme of Arrangement ("the Scheme") for amalgamation between Syncordis Software Services India Private Limited and Ruletronics Systems Private Limited ('Transferor Companies'), wholly-owned subsidiaries, with the Company ('Transferee Company') was approved by the Mumbai Bench of National Company Law Tribunal and the Company received the certified true copy of the order on September 6, 2021. The Company has filed the same with Registrar of Companies, Mumbai on September 8, 2021 which is the effective date of amalgamation. The Appointed date of the Scheme is April 1, 2021.

The amalgamation has been accounted under the 'pooling of interests' method, on the carrying value of the assets and liabilities of the Transferor Companies as included in the Standalone Balance Sheet of the Company. Accordingly, the financial information pertaining to amalgamation in respect of the prior periods was restated and goodwill of H26 million was recognized in the Standalone Financial Statements of the Company during the previous year.

44. (II) Acquisitions

During the previous year on July 1, 2021, the Company has acquired 100% stake in Cuelogic Technologies Private Limited ('Cuelogic'), along with its 100% subsidiary Cuelogic Technologies Inc for a total enterprise value of USD 8.4 million.

The management has identified dues to micro and small enterprises as defined under Micro, Small and Medium Enterprises Development Act, 2006 (MSMED) on the basis of information made available by the supplier or vendors of the Company.

48. CORPORATE SOCIAL RESPONSIBILITY (CSR)

Amount required to be spent by the Company on Corporate Social Responsibility (CSR) related activities during the year 2022-23 was H675 Million (for year 2021-22 H560 Million) and the actual amount spent is H680 Million (for year 2021-22 H564 Million, including a provision amount of H77 Million for unspent CSR).

For the purpose of impairment testing, goodwill acquired in a business combination is allocated to the Cash Generating Units (CGU) or groups of CGUs, which benefit from the synergies of the acquisition.

The recoverable amount of a CGU is determined based on value-in-use. Value-in-use is present value of future cash flows expected to be derived from the CGU. The growth rate for forecast period of 5 years is based on historical trend and an appropriate annual growth rate is considered for periods subsequent to the forecast period. The pre-tax discount rate ranges from 16.4% to 18.9 % based on Weighted Average cost of Capital for the Company.

The Group does its impairment evaluation on an annual basis and based on such evaluation the estimated recoverable amount of the CGU exceeded its carrying amount, hence impairment is not triggered as at reporting date. The Group has performed sensitivity analysis for all key assumptions, including the cash flow projections and is unlikely to cause the carrying amount of the CGU exceed its estimated recoverable amount. These estimates are likely to differ from future actual results of operations and cash flows.

50. EVENTS OCCURRING AFTER THE REPORTING PERIOD

The Board of Directors at its meeting held on April 27, 2023, has recommended final dividend of H40 per equity share (Face value H1) for the financial year ended March 31, 2023.

51. The Company has transferred H 1 Million to Investor Education and Protection Fund during the year ended March 31, 2023.

52. In case of figures mentioned as ‘0' in the financial statements, it denotes figures less than 0.5 million.

53. Previous year's figures have been regrouped / reclassified wherever applicable to facilitate comparability.

54. The fi nancial statements were approved by the Board of Directors on April 27, 2023.