|
14 Other equity |
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|
(₹ In Crore) |
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|
Particulars |
As at 31 March |
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|
2023 |
2022 |
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|
|
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|
Reserves and surplus: |
||||
|
General reserve |
||||
|
Balance as at the beginning of the year |
6,389.60 |
5,887.60 |
||
|
Add: Transferred from surplus in Statement of Profit and Loss |
– |
502.00 |
||
|
Balance as at the end of the year |
6,389.60 |
6,389.60 |
||
|
|
||||
|
Retained earnings |
||||
|
Balance as at the beginning of the year |
22,007.52 |
20,357.85 |
||
|
Profit for the year |
6,060.21 |
6,165.87 |
||
|
Items of other comprehensive income recognised directly in retained earnings |
||||
|
Actuarial gains/(losses) of gratuity (net of tax) |
(1.58) |
13.42 |
||
|
Adjustments on account of change in share of net assets of associate/subsidiary |
12.11 |
23.52 |
||
|
Less: Appropriations |
||||
|
Transfer to General reserve |
– |
502.00 |
||
|
Transaction costs on issue of shares |
1.81 |
– |
||
|
Share buyback and tax thereon |
3,087.47 |
– |
||
|
Recognition of capital redemption reserve |
6.41 |
– |
||
|
Final dividend for the year ended 31 March 2022/2021 |
4,051.14 |
4,051.14 |
||
|
Total appropriations |
7,146.83 |
4,553.14 |
||
|
Balance as at the end of the year |
20,931.43 |
22,007.52 |
||
|
|
||||
|
Other reserves: |
||||
|
Cash flow hedging reserve [See note 35] |
– |
54.33 |
||
|
Costs of hedging reserve [See note 35] |
– |
5.93 |
||
|
Foreign exchange difference of subsidiary on paid–up capital |
0.29 |
0.28 |
||
|
Foreign currency translation reserve |
762.22 |
460.31 |
||
|
Capital Reserve |
63.14 |
63.14 |
||
|
|
||||
|
FVTOCI reserve |
||||
|
Balance as at the beginning of the year |
626.41 |
88.43 |
||
|
Net (losses)/gains on FVTOCI equity securities |
300.72 |
537.98 |
||
|
Balance as at the end of the year |
927.13 |
626.41 |
||
|
|
||||
|
Capital redemption reserve |
||||
|
Balance as at the beginning of the year |
– |
– |
||
|
Add: Recognised during the year |
6.41 |
– |
||
|
Balance as at the end of the year |
6.41 |
– |
||
|
Share based payment reserve |
||||
|
Balance as at the beginning of the year |
32.27 |
16.91 |
||
|
Add: Recognised during the year |
29.82 |
15.36 |
||
|
Balance as at the end of the year |
62.09 |
32.27 |
||
|
|
||||
|
Treasury shares |
||||
|
Balance as at the beginning of the year |
(69.51) |
(32.14) |
||
|
Add: Changes during the year |
5.78 |
(37.37) |
||
|
Balance as at the end of the year |
(63.73) |
(69.51) |
||
|
29,078.58 |
29,570.28 |
|||
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.
Cash flow hedging reserve and Costs of hedging reserve
It represents the effective portion of the fair value of forward/option contracts designated as cashflow hedge.
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.
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.