Balance Sheet Con_Note_14_Revised

14 Other equity

( In Crore)

Particulars

As at 31 March

2024

2023

  

Reserves and surplus:

General reserve

Balance as at the beginning of the year

6,389.60

6,389.60

Add: Transferred from surplus in Statement of Profit and Loss

Balance as at the end of the year

6,389.60

6,389.60

  

Retained earnings

Balance as at the beginning of the year

20,931.43

22,007.52

Profit for the year

7,708.24

6,060.21

Items of other comprehensive income recognised directly in retained earnings

Actuarial gains/(losses) of gratuity (net of tax)

25.12

(1.58)

Adjustments on account of change in share of net assets of associate/subsidiary

(85.37)

12.11

Less: Appropriations

Transfer to General reserve

Rights issue expenses

2.30

1.81

Share buyback and tax thereon

4,945.02

3,087.47

Recognition of capital redemption reserve

4.00

6.41

Final dividend for the year ended 31 March 2023/2022

3,961.40

4,051.14

Total appropriations

8,912.72

7,146.83

Balance as at the end of the year

19,666.70

20,931.43

  

Other reserves:

Foreign exchange difference of subsidiary on paid-up capital

0.28

0.29

Foreign currency translation reserve

787.95

762.22

Capital Reserve

63.14

63.14

  

FVTOCI reserve

Balance as at the beginning of the year

927.13

626.41

Net (losses)/gains on FVTOCI equity securities

738.58

300.72

Balance as at the end of the year

1,665.71

927.13

  

Securities premium

Balance as at the beginning of the year

Add: Recognised during the year

86.31

Balance as at the end of the year

86.31

  

Capital redemption reserve

Balance as at the beginning of the year

6.41

Add: Recognised during the year

4.00

6.41

Balance as at the end of the year

10.41

6.41

   

Share based payment reserve

Balance as at the beginning of the year

62.09

32.27

Add: Recognised during the year

40.53

29.82

Balance as at the end of the year

102.62

62.09

  

Treasury shares

Balance as at the beginning of the year

(63.73)

(69.51)

Add: Changes during the year

(25.76)

5.78

Balance as at the end of the year

(89.49)

(63.73)

28,683.23

29,078.58

Nature and purpose of reserve:

General reserve

General reserve is free reserve available for distribution as recommended by Board in accordance with requirements of the Companies Act, 2013. Mandatory transfer to general reserve is not required under the Companies Act, 2013.

Retained earnings

Retained earnings is a free reserve. This is the accumulated profit earned by the Company till date, less transfer to general reserve, dividend and other distributions made to the shareholders.

Foreign exchange difference of subsidiary on paid-up capital

This reserve represents the foreign exchange difference due to rate on the date of receipt vis-à-vis date of share certificate issued.

Foreign currency translation reserve

This reserve represents the foreign exchange differences on converting subsidiaries financials into INR, including other adjustments on consolidation.

FVTOCI reserve

The Company has elected to recognise changes in the fair value of certain investments in equity securities in other comprehensive income. These changes are accumulated within the FVTOCI reserve within equity.

Securities premium

The amount received in excess of face value of the equity shares is recognised in securities premium.

Capital redemption reserve

As per section 69 of the Companies Act 2013, where a company purchases its own shares out of free reserves or securities premium account, a sum equal to the nominal value of the shares so purchased shall be transferred to the capital redemption reserve account. The capital redemption reserve account may be applied by the company, in paying up unissued shares of the company to be issued to members of the company as fully paid bonus shares.

Share based payment reserve

Share based payment reserve is created as required by Ind AS 102 ‘Share Based Payments’ on the employee stock option scheme operated by the Company for its employees.

Treasury shares

The reserve for shares of the Company held by the Bajaj Auto ESOP Trust (ESOP Trust). Company has issued employees stock option scheme for its employees. The equity shares of the Company have been purchased and held by ESOP Trust. Trust to transfer in the name of employees at the time of exercise of option by employees.