Deferred tax assets/liabilities - Annual Report 2025-26

Balance Sheet

20 Deferred tax assets/liabilities
(₹ In Crore)
Particulars	As at 31 March
Particulars	2026	2025

Deferred tax liabilities	892.06	1,123.03
Add: Addition due to acquisitions	412.24	–
	1,304.30	1,123.03
Deferred tax assets	309.01	88.69
Net Deferred Tax liabilities	995.29	1,034.34

(₹ In Crore)
Particulars	As at 31 March
Particulars	2026	2025

Deferred tax liabilities
On account of timing difference in
Property, plant and equipment	588.93	198.06
Intangible assets	1,240.84	–
Employee benefits:
Defined benefit plans provisions – P&L	–	4.06
Defined benefit plans provisions – OCI	1.07	1.10
Financial instruments:
Mutual funds including fixed maturity plans, ETFs	547.45	502.47
Fair valuation of derivative hedging contracts	–	4.03
Financial assets at FVTOCI	269.26	479.09
Gross deferred tax liabilities	2,647.55	1,188.81
Deferred tax assets
On account of timing difference in
Property, plant and equipment	101.50	–
Inventories	128.48	–
Trade payables	128.97	–
Receivables and other short-term assets	57.70	–
Financial instruments:
Financial instruments measured at amortised cost	27.00	–
Employee benefits:
Bonus provisions	19.48	2.40
Provision for privilege leave etc.	57.71	37.65
Defined benefit plans provisions – P&L	18.27	0.34
Defined benefit plans provisions – OCI	2.82	1.24
Welfare scheme costs & others	0.08	0.11
	542.01	41.74
Other items:
Un-utilised tax loss	21.13	41.87
Deferred Income	–	18.58
Expected Credit Loss	87.05	25.31
Investments in subsidiaries (‘Siebentel’ from AT tax law)*	921.28	–
Amortisation on acquisition/liquidation of fixed income securities	4.27	13.77
Taxes, duties, others etc.	58.76	0.27
Provision for bad/doubtful debts and advances	5.65	0.82
Taxes, duties, others etc.	12.11	12.11
	1,110.25	112.73

Gross deferred tax assets	1,652.26	154.47

Net deferred tax	(995.29)	(1,034.34)

* This pertains to deferred tax assets recognised on carry forward tax losses (in BAIHAG Group) to the extent of offsetting against deferred tax liabilities. The tax losses in Austria can be carryforward indefinetly

Movement in deferred tax liabilities (net):		₹ In Crore

At 1 April 2024		493.13
Charged/(credited)
– to profit & loss		274.95
– to other comprehensive income		265.72
Foreign currency translations		0.54
At 31 March 2025		1,034.34
Net Deferred taxes liabilities due to acquisition (see note 46)		412.24
Charged/(credited)
– to profit & loss		(254.66)
– to other comprehensive income		(204.58)
Foreign currency translations		7.95
At 31 March 2026		995.29