|
34 Fair value measurement |
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|
i) Financial instruments by category |
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|
(₹ In Crore) |
||||||||||||
|
Particulars |
31 March 2025 |
31 March 2024 |
||||||||||
|
FVTPL |
FVTOCI |
Amortised Cost |
FVTPL |
FVTOCI |
Amortised Cost |
|||||||
|
|
||||||||||||
|
Financial assets |
||||||||||||
|
Investments |
||||||||||||
|
– Equity |
– |
4,626.75 |
– |
– |
3,152.58 |
– |
||||||
|
– Bonds |
460.45 |
– |
1,433.63 |
– |
– |
1,439.04 |
||||||
|
– Government securities |
– |
78.30 |
367.55 |
– |
– |
367.70 |
||||||
|
– Commercial Papers |
– |
– |
– |
– |
– |
195.39 |
||||||
|
– Fixed maturity plans |
– |
– |
884.18 |
– |
– |
834.62 |
||||||
|
– Exchange traded funds |
– |
– |
7,640.05 |
– |
– |
7,343.55 |
||||||
|
– Fixed deposits |
– |
– |
503.50 |
– |
– |
500.00 |
||||||
|
– Short-term funds |
4,985.22 |
– |
– |
4,715.75 |
– |
– |
||||||
|
– Short duration bond funds |
731.78 |
– |
– |
– |
– |
– |
||||||
|
– Liquid mutual funds |
1,020.62 |
– |
– |
2,546.47 |
– |
– |
||||||
|
– Arbitrage Funds |
2,493.57 |
– |
– |
819.59 |
– |
– |
||||||
|
– Derivative Asset |
2.51 |
1.14 |
– |
– |
– |
– |
||||||
|
Trade receivables |
– |
– |
2,125.22 |
– |
– |
2,075.53 |
||||||
|
Loans |
21.40 |
– |
9,894.76 |
– |
– |
784.91 |
||||||
|
Other financial assets |
– |
– |
2,288.91 |
– |
– |
1,049.61 |
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|
Cash and cash equivalents |
– |
– |
2,331.53 |
– |
– |
560.45 |
||||||
|
Other bank balances |
– |
– |
516.07 |
– |
– |
1,476.83 |
||||||
|
Total financial assets |
9,715.55 |
4,706.19 |
27,985.40 |
8,081.81 |
3,152.58 |
16,627.63 |
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|
|
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|
Financial liabilities |
||||||||||||
|
Borrowings |
– |
– |
9,236.52 |
– |
– |
1,785.90 |
||||||
|
Sales tax deferral |
– |
– |
127.64 |
– |
– |
125.84 |
||||||
|
Trade payables |
– |
– |
6,372.71 |
– |
– |
5,580.82 |
||||||
|
Derivative financial liability |
– |
18.56 |
– |
– |
– |
– |
||||||
|
Other financial liabilities |
– |
– |
775.23 |
– |
– |
597.03 |
||||||
|
Total financial liabilities |
– |
18.56 |
16,512.10 |
– |
– |
8,089.59 |
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ii) Fair value hierarchy
This section explains the judgments and estimates made in determining the fair values of the financial instruments that are (a) recognised and measured at fair value and (b) measured at amortised cost and for which fair values are disclosed in the financial statements. To provide an indication about the reliability of the inputs used in determining fair value, the Company has classified its financial instruments into the three levels prescribed under the accounting standard. An explanation of each level follows underneath the table.
|
Financial assets/liabilities measured at fair value – recurring fair value measurements At 31 March 2025 |
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|
(₹ In Crore) |
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|
Particulars |
Notes |
Level 1 |
Level 2 |
Level 3 |
Total |
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|
|
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|
Financial investments at FVTPL |
||||||||||
|
– Short-term funds |
5 |
4,985.22 |
– |
– |
4,985.22 |
|||||
|
– Short duration bond funds |
5 |
731.78 |
– |
– |
731.78 |
|||||
|
– Liquid mutual funds |
5 |
1,020.62 |
– |
– |
1,020.62 |
|||||
|
– Bonds |
5 |
– |
460.45 |
– |
460.45 |
|||||
|
– Derivative Asset |
7 |
– |
2.51 |
– |
2.51 |
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|
– Loans |
6 |
– |
21.40 |
– |
21.40 |
|||||
|
– Arbitrage funds |
5 |
2,493.57 |
– |
– |
2,493.57 |
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|
|
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|
Financial investments at FVTOCI |
||||||||||
|
– Derivative Asset |
7 |
– |
1.14 |
1.14 |
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|
– Government securities |
5 |
– |
78.30 |
78.30 |
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|
– Equity investment |
5 |
4,365.57 |
261.18 |
– |
4,626.75 |
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|
Total financial assets |
13,596.76 |
824.98 |
– |
14,421.74 |
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|
|
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|
Financial liabilities at FVTOCI |
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|
Derivative financial liability |
17 |
– |
18.56 |
– |
18.56 |
|||||
|
Total financial liabilities |
– |
18.56 |
– |
18.56 |
||||||
|
Assets disclosed at fair value – At 31 March 2025 |
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|
(₹ In Crore) |
||||||||||
|
Particulars |
Notes |
Level 1 |
Level 2 |
Level 3 |
Total |
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|
|
||||||||||
|
Investment property |
3 |
– |
234.09 |
– |
234.09 |
|||||
|
Financial assets/liabilities measured at fair value – recurring fair value measurements At 31 March 2024 |
||||||||||
|
(₹ In Crore) |
||||||||||
|
Particulars |
Notes |
Level 1 |
Level 2 |
Level 3 |
Total |
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|
|
||||||||||
|
Financial investments at FVTPL |
||||||||||
|
– Short-term funds |
5 |
4,715.75 |
– |
– |
4,715.75 |
|||||
|
– Short duration bond funds |
5 |
– |
– |
– |
– |
|||||
|
– Liquid mutual funds |
5 |
2,546.47 |
– |
– |
2,546.47 |
|||||
|
– Bonds |
5 |
– |
– |
– |
– |
|||||
|
– Derivative Asset |
7 |
– |
– |
– |
– |
|||||
|
– Loans |
6 |
– |
– |
– |
– |
|||||
|
– Arbitrage funds |
5 |
819.59 |
– |
– |
819.59 |
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|
Financial investments at FVTOCI |
||||||||||
|
– Derivative Asset |
7 |
– |
– |
– |
– |
|||||
|
– Government securities |
5 |
– |
– |
– |
– |
|||||
|
– Equity investment |
5 |
2,895.46 |
257.12 |
– |
3,152.58 |
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|
Total financial assets |
10,977.27 |
257.12 |
– |
11,234.39 |
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|
|
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|
Financial liabilities at FVTOCI |
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|
Derivative financial liability |
17 |
– |
– |
– |
– |
|||||
|
Total financial liabilities |
– |
– |
– |
– |
||||||
|
Assets disclosed at fair value – At 31 March 2024 |
||||||||||
|
(₹ In Crore) |
||||||||||
|
Particulars |
Notes |
Level 1 |
Level 2 |
Level 3 |
Total |
|||||
|
|
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|
Investment property |
3 |
– |
225.38 |
– |
225.38 |
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Level 1: Level 1 hierarchy includes financial instruments measured using quoted prices in active markets. Quotes would include rates/values/valuation references published periodically by BSE, NSE etc. basis which trades take place in a linked or unlinked active market. This includes traded bonds and mutual funds, as the case may be, that have quoted price/rate/value.
Level 2: The fair value of financial instruments that are not traded in an active market are determined using valuation techniques which maximise the use of observable market data (either directly as prices or indirectly derived from prices) and rely as little as possible on entity-specific estimates. If all significant inputs required to fair value an instrument are observable, the instrument is included in level 2.
Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3. This is the case for unlisted equity securities, contingent consideration and indemnification asset included in level 3.
Valuation Techniques used to determine fair value
Valuation Techniques used to determine fair value include
• Open ended mutual funds at NAV’s/rates declared and/or quoted
|
iii) Fair value of financial assets and liabilities measured at amortised cost |
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|
(₹ In Crore) |
||||||||
|
Particulars |
31 March 2025 |
31 March 2024 |
||||||
|
Carrying Amount |
Fair value |
Carrying Amount |
Fair value |
|||||
|
|
||||||||
|
Financial assets |
||||||||
|
Investments |
||||||||
|
Bonds |
1,433.63 |
1,403.15 |
1,439.04 |
1,379.96 |
||||
|
Government securities |
367.55 |
362.30 |
367.70 |
352.92 |
||||
|
Fixed maturity plans |
884.18 |
891.68 |
834.62 |
823.27 |
||||
|
Exchange traded funds |
7,640.05 |
7,675.55 |
7,343.55 |
7,238.18 |
||||
|
Total financial assets |
10,325.41 |
10,332.68 |
9,984.91 |
9,794.33 |
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The carrying amounts of commercial paper, fixed deposits, trade receivables, trade payables, other financial assets/liabilities, loans and cash and cash equivalents are considered to be the same as their fair values, due to their short-term nature.