2.2 Investments The carrying value of investments are as follows:
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(Dollars in millions) |
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As of |
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March 31, 2025 |
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March 31, 2024 |
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Current investments |
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Amortized cost: |
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Quoted debt securities |
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20 |
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— |
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Fair value through profit and loss: |
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Liquid mutual funds |
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229 |
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313 |
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Fair Value through Other comprehensive income: |
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Quoted debt securities |
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375 |
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291 |
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Certificates of deposit |
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410 |
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365 |
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Commercial Paper |
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426 |
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579 |
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1,460 |
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1,548 |
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Non-Current investments |
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Amortized cost: |
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Quoted debt securities |
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173 |
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211 |
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Fair value through Other comprehensive income: |
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Quoted debt securities |
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1,014 |
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1,093 |
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Quoted equity securities |
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7 |
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14 |
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Unquoted equity and preference securities |
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20 |
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11 |
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Fair value through profit and loss: |
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Target maturity fund units |
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54 |
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51 |
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Unquoted equity and preference securities |
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3 |
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— |
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Others |
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23 |
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24 |
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1,294 |
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1,404 |
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Total Investments |
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2,754 |
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2,952 |
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Investment carried at amortized cost |
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193 |
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211 |
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Investments carried at fair value through other comprehensive income |
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2,252 |
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2,353 |
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Investments carried at fair value through profit and loss |
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309 |
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388 |
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Note: Uncalled capital commitments outstanding as of March 31, 2025, and March 31, 2024, was $14 million and $9 million, respectively. Refer to Note 2.3 for accounting policies on financial instruments. Details of amounts recorded in other comprehensive income:
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(Dollars in millions) |
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Net gain / (loss) on |
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Year ended March 31, 2025 |
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Gross |
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Tax |
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Net |
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Quoted debt securities |
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26 |
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(3 |
) |
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23 |
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Certificates of deposit and Commercial papers |
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1 |
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— |
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1 |
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Equity and preference securities |
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2 |
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— |
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2 |
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(Dollars in millions) |
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Net gain / (loss) on |
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Year ended March 31, 2024 |
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Gross |
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Tax |
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Net |
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Quoted debt securities |
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19 |
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(2 |
) |
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17 |
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Equity and preference securities |
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1 |
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1 |
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2 |
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(Dollars in millions) |
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Net gain / (loss) on |
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Year ended March 31, 2023 |
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Gross |
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Tax |
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Net |
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Quoted debt securities |
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(31 |
) |
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1 |
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(30 |
) |
Equity and preference securities |
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(3 |
) |
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– |
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(3 |
) |
Method of fair valuation:
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(Dollars in millions) |
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Fair value |
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As of March 31 |
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Class of investment |
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Method |
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2025 |
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2024 |
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Liquid mutual funds- carried at Fair value through profit or loss |
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Quoted price |
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229 |
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313 |
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Target maturity fund units- carried at Fair value through profit or loss |
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Quoted price |
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54 |
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51 |
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Quoted debt securities- carried at amortized cost |
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Quoted price and market
observable inputs |
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213 |
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236 |
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Quoted debt securities- carried at Fair value through other comprehensive income |
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Quoted price and market
observable inputs |
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1,389 |
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1,384 |
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Commercial Paper- carried at Fair value through other comprehensive income |
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Market observable inputs |
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426 |
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579 |
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Certificate of deposits- carried at Fair value through other comprehensive income |
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Market observable inputs |
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410 |
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365 |
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Unquoted equity and preference securities - carried at fair value through profit or loss |
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Discounted cash flows method, Market multiples method, Option pricing model |
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3 |
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— |
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Unquoted equity and preference securities- carried at fair value through other comprehensive income |
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Discounted cash flows method,
Market multiples method,
Option pricing model |
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20 |
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11 |
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Quoted equity securities - carried at fair value through other comprehensive income |
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Quoted price |
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7 |
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14 |
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Others - carried at fair value through profit or loss |
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Discounted cash flows method,
Market multiples method,
Option pricing model |
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23 |
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24 |
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2,774 |
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2,977 |
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Note: Certain quoted investments are classified as Level 2 in the absence of active market for such investments. |