250 Standalone Financial Statements 2023-24

Standalone Balance Sheet

(` crore)
Note As at As at
March 31, 2024 March 31, 2023
ASSETS
Non-current assets
Property, plant and equipment 8(a) 8,336 9,186
Capital work-in-progress 8(a) 1,450 1,103
Right-of-use assets 7 6,154 5,695
Intangible assets 8(b) 463 809
Financial assets
Investments 6(a) 2,405 2,405
Trade receivables
Billed 6(b) 127 125
Unbilled 65 196
Loans 6(e) 2 3
Other financial assets 6(f) 626 532
Deferred tax assets (net) 15 2,524 2,464
Income tax assets (net) 1,062 2,115
Other assets 8(c) 3,016 2,410
Total non-current assets 26,230 27,043
Current assets
Inventories 8(d) 27 27
Financial assets
Investments 6(a) 29,840 35,738
Trade receivables
Billed 6(b) 38,591 35,534
Unbilled 7,477 7,264
Cash and cash equivalents 6(c) 3,644 1,462
Other balances with banks 6(d) 2,955 3,081
Loans 6(e) 317 332
Other financial assets 6(f) 1,559 1,557
Income tax assets (net) 111 -
Other assets 8(c) 10,397 7,789
Total current assets 94,918 92,784
TOTAL ASSETS 1,21,148 1,19,827
EQUITY AND LIABILITIES
Equity
Share capital 6(n) 362 366
Other equity 9 71,758 74,172
Total equity 72,120 74,538
Liabilities
Non-current liabilities
Financial liabilities
Lease liabilities 5,128 4,698
Other financial liabilities 6(i) 315 340
Employee benefit obligations 12 144 95
Deferred tax liabilities (net) 15 154 190
Unearned and deferred revenue 226 642
Total non-current liabilities 5,967 5,965
Current liabilities
Financial liabilities
Lease liabilities 1,017 961
Trade payables
Dues of small enterprises and micro enterprises 6(g) 79 -
Dues of creditors other than small enterprises and micro enterprises 6(h) 14,520 13,768
Other financial liabilities 6(i) 6,286 6,948
Unearned and deferred revenue 2,811 2,962
Other liabilities 8(e) 4,458 3,113
Provisions 8(f) 71 279
Employee benefit obligations 12 3,332 3,022
Income tax liabilities (net) 10,487 8,271
Total current liabilities 43,061 39,324
TOTAL EQUITY AND LIABILITIES 1,21,148 1,19,827
NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

As per our report of even date attached For and on behalf of the Board
For B S R & Co. LLP K Krithivasan N Ganapathy Subramaniam
Chartered Accountants CEO and Managing Director COO and Executive Director
Firm’s registration no: 101248W/W-100022
Amit Somani Samir Seksaria Pradeep Manohar Gaitonde
Partner CFO Company Secretary
Membership No: 060154

Mumbai, April 12, 2024 Mumbai, April 12, 2024

Integrated Annual Report 2023-24

 Standalone Financial Statements 2023-24 251

Standalone Statement of Profit and Loss

(` crore)
Note Year ended Year ended
March 31, 2024 March 31, 2023
Revenue from operations 10 202,359 1,90,354
Other income 11 7,273 5,328
TOTAL INCOME 209,632 1,95,682
Expenses
Employee benefit expenses 12 103,139 96,218
Cost of equipment and software licences 13(a) 3,347 1,416
Finance costs 14 673 695
Depreciation and amortisation expense 3,887 3,940
Other expenses 13(b) 40,026 41,723
TOTAL EXPENSES 151,072 1,43,992
PROFIT BEFORE EXCEPTIONAL ITEM AND TAX 58,560 51,690
Exceptional item
Settlement of legal claim 19 958 -
PROFIT BEFORE TAX 57,602 51,690
Tax expense
Current tax 15 14,178 12,946
Deferred tax 15 (135) (362)
TOTAL TAX EXPENSE 14,043 12,584
PROFIT FOR THE YEAR 43,559 39,106
OTHER COMPREHENSIVE INCOME (OCI)
Items that will not be reclassified subsequently to profit or loss
Remeasurement of defined employee benefit plans (60) 54
Income tax on items that will not be reclassified subsequently to profit or 13 (12)
loss
Items that will be reclassified subsequently to profit or loss
Net change in fair values of investments other than equity shares carried at 237 (679)
fair value through OCI
Net change in intrinsic value of derivatives designated as cash flow hedges 1 (25)
Net change in time value of derivatives designated as cash flow hedges 13 32
Income tax on items that will be reclassified subsequently to profit or loss (39) 236
TOTAL OTHER COMPREHENSIVE INCOME / (LOSSES) 165 (394)
TOTAL COMPREHENSIVE INCOME FOR THE YEAR 43,724 38,712
Earnings per equity share:- Basic and diluted (`) 16 119.44 106.88
Weighted average number of equity shares 364,68,51,755 365,90,51,373
NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

As per our report of even date attached For and on behalf of the Board
For B S R & Co. LLP K Krithivasan N Ganapathy Subramaniam
Chartered Accountants CEO and Managing Director COO and Executive Director
Firm’s registration no: 101248W/W-100022
Amit Somani Samir Seksaria Pradeep Manohar Gaitonde
Partner CFO Company Secretary
Membership No: 060154

Mumbai, April 12, 2024 Mumbai, April 12, 2024

Integrated Annual Report 2023-24

254 Standalone Financial Statements 2023-24

Standalone Statement of Cash Flows

(` crore)
Year ended Year ended
March 31, 2024 March 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES
Profit for the year 43,559 39,106
Adjustments for:
Depreciation and amortisation expense 3,887 3,940
Bad debts and advances written off, allowance for expected credit losses and doubtful 97 110
advances (net)
Tax expense 14,043 12,584
Net (gain) / loss on lease modification (2) 3
Net gain on sub-lease - (7)
Unrealised foreign exchange gain (11) (185)
Net gain on disposal of property, plant and equipment (8) (27)
Net gain on disposal / fair valuation of investments (264) (209)
Interest income (3,382) (3,046)
Dividend income (including exchange impact) (3,288) (2,112)
Finance costs 673 695
Operating profit before working capital changes 55,304 50,852
Net change in
Inventories - (8)
Trade receivables
Billed (3,145) (5,817)
Unbilled (82) (1,157)
Loans and other financial assets (291) 192
Other assets (3,125) (384)
Trade payables 831 3,686
Unearned and deferred revenue (567) 31
Other financial liabilities (698) 1,222
Other liabilities and provisions 1,498 (654)
Cash generated from operations 49,725 47,963
Taxes paid (net of refunds) (10,583) (10,934)
Net cash generated from operating activities 39,142 37,029

CASH FLOWS FROM INVESTING ACTIVITIES

Bank deposits placed (6,489) (3,528)
Inter-corporate deposits placed - (7,580)
Purchase of investments (128,764) (122,721)
Payment for purchase of property, plant and equipment (1,720) (2,041)
Payment including advances for acquiring right-of-use assets (17) (94)
Payment for purchase of intangible assets (411) (340)
Proceeds from bank deposits 6,605 5,930
Proceeds from inter-corporate deposits - 12,966
Proceeds from disposal / redemption of investments 135,375 115,825
Proceeds from sub-lease receivable 10 5

Integrated Annual Report 2023-24

 Standalone Financial Statements 2023-24 255

Standalone Statement of Cash Flows

(` crore)
Year ended Year ended
March 31, 2024 March 31, 2023
Proceeds from disposal of property, plant and equipment 14 29
Interest received 2,670 2,933
Dividend received from subsidiaries 3,534 1,866
Net cash generated from investing activities 10,807 3,250

CASH FLOWS FROM FINANCING ACTIVITIES

Repayment of lease liabilities (1,061) (1,006)
Interest paid (590) (697)
Dividend paid (25,137) (41,347)
Transfer of funds to buy-back escrow account (425) -
Transfer of funds from buy-back escrow account 425 18
Expenses for buy-back of equity shares (Refer note 6(n)) (46) -
Tax on buy-back of equity shares (Refer note 6(n)) (3,959) (4,192)
Buy-back of equity shares (Refer note 6(n)) (17,000) -
Net cash used in financing activities (47,793) (47,224)
Net change in cash and cash equivalents 2,156 (6,945)
Cash and cash equivalents at the beginning of the year 1,462 8,197
Exchange difference on translation of foreign currency cash and cash equivalents 26 210
Cash and cash equivalents at the end of the year 3,644 1,462
Components of cash and cash equivalents
Balances with banks
In current accounts 1,359 776
In deposit accounts 2,285 686
Cheques on hand -* -*
Cash on hand -* -*
Remittances in transit -* -*
3,644 1,462

*Represents value less than `0.50 crore.

Refer note 13(c) for amount spent during the years ended March 31, 2024 and 2023 on construction / acquisition of any asset and
other purposes relating to CSR activities.

NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

As per our report of even date attached For and on behalf of the Board
For B S R & Co. LLP K Krithivasan N Ganapathy Subramaniam
Chartered Accountants CEO and Managing Director COO and Executive Director
Firm’s registration no: 101248W/W-100022
Amit Somani Samir Seksaria Pradeep Manohar Gaitonde
Partner CFO Company Secretary
Membership No: 060154

Mumbai, April 12, 2024 Mumbai, April 12, 2024

Integrated Annual Report 2023-24