Retirement benefit in the form of provident fund is a defined contribution scheme. The contributions to the provident fund are charged to the consolidated statement of profit or loss for the year when the contributions are due. The Group has no obligation, other than the contribution payable to the provident fund.

The Group has a defined benefit gratuity plan. Gratuity is computed as 15 days' salary, for every completed year of service or part thereof in excess of 6 months and is payable on retirement / termination / resignation. The benefit vests on the employees after completion of 5 years of service. The Gratuity liability has not been externally funded. Group makes provision of such gratuity liability in the books of accounts on the basis of actuarial valuation as per the projected unit credit method.

The following tables summarise the components of net benefit expense recognised in the consolidated statement of profit or loss and the unfunded status and amounts recognised in the consolidated statement of financial position for gratuity.

Consolidated statement of profit or loss and OCI


	For the year ended March 31,
	2023		2024			2025		2025
	(INR)		(INR)			(INR)		(USD)
Net employees benefit expense recognised in 'Employee benefits expense'
Current service cost		52		73			95		1
Interest cost on benefit obligation		12		16			20		0
Net benefit expense*		64		89			115		1

* This amount is inclusive of amount capitalised in different projects.

Net (expense) / income recognised in OCI		3		(18	)		50		1

Consolidated statement of financial position


	As at March 31,
	2024		2025		2025
	(INR)		(INR)		(USD)
Defined benefit liability
Present value of unfunded obligation		300		315		4
Net liability		300		315		4


	For the year ended March 31,
	2023			2024			2025			2025
	(INR)			(INR)			(INR)			(USD)
Changes in the present value of the defined benefit obligation
Opening defined benefit obligation		189			231			300			4
Current service cost		52			73			95			1
Interest cost		12			16			20			0
Benefits paid		(20	)		(34	)		(50	)		(1	)
Remeasurements during the year due to:
- Experience adjustments		6			10			(8	)		(0	)
- Change in financial assumptions		(10	)		4			9			0
- Change in demographic assumptions		2			-			(51	)		(1	)
Closing defined benefit obligation		231			300			315			4

Since the entire amount of plan obligation is unfunded therefore changes in fair value of plan assets, categories of plan assets as a percentage of the fair value of total plan assets and Group’s expected contribution to the plan assets for the next year is not given.

Principal assumptions used in determining gratuity obligations


	For the year ended March 31,
	2023			2024			2025
Discount rate		7.40	%		7.20	%		6.60	%
Salary escalation		10.00	%		10.00	%		10.00	%

The estimates of future salary increases considered in actuarial valuation take account of inflation, total amount of inflation, seniority, promotion and other relevant factors, such as supply and demand in the employment market.

The Group regularly assesses these assumptions with the projected long-term plans and prevalent industry standards. The impact of sensitivity due to changes in the significant actuarial assumptions on the defined benefit obligations is given in the table below:


	Change in	Impact on provision for gratuity as at March 31,
Particulars	assumptions	2024		2025		2025
		(INR)		(INR)		(USD)
Discount rate	+ 0.5%		289		314		4
	- 0.5%		312		330		4
Salary escalation	+ 0.5%		309		328		4
	- 0.5%		292		316		4

The sensitivity analysis above has been determined based on a method that extrapolates the impact on defined benefit obligation as a result of reasonable changes in key assumptions occurring at the end of the year.

Projected plan cash flow

The table below shows the expected cash flow profile of the benefits to be paid to the current membership of the plan based on past service of the employees as at the valuation date:


	As at March 31,
Maturity profile	2024		2025		2025
	(INR)		(INR)		(USD)
Within next 12 months		33		52		1
From 2nd to 5th year		127		192		2
From 6th to 9th year		122		117		1
From 10th year and beyond		299		108		1

The weighted average duration to the payment of these cash flows is 5.06 years (March 31, 2024: 7.27 years; March 31, 2023: 7.92 years).

The Group is exposed to a number of risks in the defined benefit plans. Most significant risks pertaining to defined benefits plans and management estimation of the impact of these risks are as follows:


	For the year ended March 31,
Defined contribution plan	2023		2024		2025		2025
	(INR)		(INR)		(INR)		(USD)
Contribution to provident fund and other fund charged to consolidated statement of profit or loss (inclusive of amount capitalised in different projects)		210		311		347		4