v3.25.2
Consolidated Statements of Changes in Equity - USD ($)
Share capital
Previously Reported
Share capital
Adjustments for modification of Reachnet Agreement
Share capital
Translation of foreign subsidiaries
Previously Reported
Translation of foreign subsidiaries
Adjustments for modification of Reachnet Agreement
Translation of foreign subsidiaries
Promissory Note – Equity Classification
Previously Reported
Promissory Note – Equity Classification
Adjustments for modification of Reachnet Agreement
Promissory Note – Equity Classification
Retained earnings
Previously Reported
Retained earnings
Adjustments for modification of Reachnet Agreement
Retained earnings
Securities Premium reserve
Previously Reported
Securities Premium reserve
Adjustments for modification of Reachnet Agreement
Securities Premium reserve
Employee benefits reclassification
Previously Reported
Employee benefits reclassification
Adjustments for modification of Reachnet Agreement
Employee benefits reclassification
ESOP Trust
Previously Reported
ESOP Trust
Adjustments for modification of Reachnet Agreement
ESOP Trust
Total
Previously Reported
Total
Adjustments for modification of Reachnet Agreement
Total
Non- controlling interest
Previously Reported
Non- controlling interest
Adjustments for modification of Reachnet Agreement
Non- controlling interest
Previously Reported
Adjustments for modification of Reachnet Agreement
Total
Balance at Mar. 31, 2022 $ 341,541   $ 341,541 $ (283,077)   $ (283,077)   $ 12,148,402   $ (2,170,851)             $ 12,206,866   $ (2,112,387) $ 1,908   $ 1,908 $ 12,208,774   $ (2,110,480)
Balance (in Shares) at Mar. 31, 2022 569,235   569,235                                                      
Derecognition on disposal of a subsidiary – GHSI                                     (1,908)     (1,908)
Issue of shares     $ 30,010                       14,224,240                 14,254,250           14,254,250
Issue of shares (in Shares)     50,016                                                      
Share warrants exercised     $ 4,215                 71,108             75,323         75,323
Share warrants exercised (in Shares)     7,025                                                      
Cost of IPO                     (1,820,404)             (1,820,404)         (1,820,404)
Cost of IPO (in Shares)                                                          
Profit/(loss) for the year                 (2,348,103)                 (2,348,103)     712,266     (1,635,837)
Acquired in the business combination                                     1,768,961     1,768,961
Other comprehensive income for the year         158,085                 (714)         (157,371)     57,251     214,622
Balance at Mar. 31, 2023     $ 375,766     (124,992)         (4,518,954)     12,474,944     (714)         8,206,050     2,538,478     10,744,528
Balance (in Shares) at Mar. 31, 2023     626,276                                                      
Adjustments for modification of Reachnet Agreement               $ (14,319,254)                 $ (14,319,254)         $ (14,319,254)  
Profit/(loss) for the year                 287,669                 287,669     365,505     653,174
Other comprehensive income for the year         (29,165)                 (489)         (29,654)     111,048     81,394
Issue of Shares to DTC                                        
Issue of Shares to DTC (in Shares)     46,040                                                      
Issue of Shares to ESOP Trust                 (5,720,000)             5,720,000            
Issue of Shares to ESOP Trust (in Shares)     666,652                                                      
Issue of shares common stock – Lenders     $ 158,809                 4,178,524             4,337,333         4,337,333
Issue of shares common stock – Lenders (in Shares)     481,187                                                      
Issue of shares common stock – Others     $ 1,421                 50,874             52,295         52,295
Issue of shares common stock – Others (in Shares)     2,369                                                      
Issue of shares common stock – Directors     $ 3,000                 107,400             110,400         110,400
Issue of shares common stock – Directors (in Shares)     5,000                                                      
Balance at Mar. 31, 2024     $ 538,996     (154,156)         (9,951,285)     16,811,742     (1,203)     5,720,000     12,964,094     3,015,031     15,979,125
Balance (in Shares) at Mar. 31, 2024     1,827,524                                                      
Profit/(loss) for the year                 694,584                 694,584     134,828     829,412
Other comprehensive income for the year         (37,617)                 3,061         (34,555)     41,978     7,423
Issuance of Promissory Note (Net)             7,548,709                     7,548,709         7,548,709
Reversal of ESOP Trust Reserve [1]                 5,720,000             (5,720,000)            
Issue of Shares to ESOP Trust                                          
Issue of Shares to ESOP Trust (in Shares)     115,000,000                                                      
Conversion of Promissory Note     $ 513,856         (5,917,724)         5,403,868                    
Conversion of Promissory Note (in Shares)     51,385,558                                                      
Cancellation of Unvested shares [2]                                        
Cancellation of Unvested shares (in Shares) [2]     300,000                                                      
Issue of shares common stock – Others     $ 114,844                 739,374             854,218         854,218
Issue of shares common stock – Others (in Shares)     11,484,409                                                      
Balance at Mar. 31, 2025     $ 1,167,696     $ (191,773)     $ 1,630,984     $ (3,536,701)     $ 22,954,985     $ 1,858         $ 22,027,050     $ 3,191,837     $ 25,218,887
Balance (in Shares) at Mar. 31, 2025     179,997,491                                                      
[1] In the years ended March 31, 2025 and March 31, 2024, the Company issued restricted shares to the Lytus trust, an entity controlled by the company’s chief executive officer, for future allocation to employees by management and created an ESOP reserve by adjusting retained earnings. As per IFRS 2, share-based payment expense is to be recognized in profit or loss only when the shares are allotted or vested to employees. Since no shares were allotted, the Company has reversed the ESOP reserve in the current year. The shares held by the trust are treated as restricted shares and excluded from EPS as per IAS 33. This has no impact on profit or loss as well as on equity for the current or previous period.
[2] During the year ended March 31, 2025, the Company has issued 300,000 common shares to employees of its subsidiaries. However, due to a breach of agreement, these shares were cancelled.