Borrowings (Tables)

12 Months Ended

Mar. 31, 2025



	2025 €m		Re-presented 1 2024 € m

Non-current borrowings

Bonds		34,873		40,382

Bank loans		1,009		402

Lease liabilities (note 20 ‘Leases’)		8,480		7,416

Other borrowings 2		1,734		1,059

		46,096		49,259

Current borrowings

Bonds		1,529		361

Bank loans		204		365

Lease liabilities (note 20 ‘Leases’)		2,346		2,256

Collateral liabilities		2,357		2,628

Bank borrowings secured against Indian assets		–		1,720

Other borrowings 2		611		398

		7,047		7,728

Borrowings		53,143		56,987

Note:

On 1 April 2024, the Group adopted amendments to IAS 1 ‘Presentation of Financial statements’ which has impacted the classification of certain bonds between current borrowings and

non-current

borrowings. As a result of the reclassification, comparatives at 31 March 2024, have been re-presented in accordance with IFRS requirements. See note 1 ‘Basis of preparation’ to the consolidated financial statements for more information.

Includes

€

700 million (2024:

€

862 million) and

€

187 million (2024:

€

158 million) of licence and spectrum fees payable,

and

€

307 million (2024:

€

20 million) and

€

196 million (2024:

€

40 million) of supplier payables classified as borrowings, in

non-current

and current borrowings respectively.