Income taxes (Tables)
|
12 Months Ended |
Mar. 31, 2026 |
|---|
| Text Blocks Abstract |
|
| Summary of Allocation of Income Tax Expense to Other Comprehensive Income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year ended March 31, |
|
|
|
2024 |
|
|
2025 |
|
|
2026 |
|
Income tax expense as per the consolidated statement of income |
|
₹ |
36,089 |
|
|
₹ |
42,777 |
|
|
₹ |
40,767 |
|
Income tax included in other comprehensive income on: |
|
|
|
|
|
|
|
|
|
Gains/(losses) on investment securities |
|
|
259 |
|
|
|
83 |
|
|
|
(323 |
) |
Gains/(losses) on cash flow hedging derivatives |
|
|
554 |
|
|
|
(260 |
) |
|
|
(2,257 |
) |
Remeasurements of the defined benefit plans |
|
|
111 |
|
|
|
49 |
|
|
|
10 |
|
|
|
₹ |
37,013 |
|
|
₹ |
42,649 |
|
|
₹ |
38,197 |
|
|
| Summary of Components of Income Tax Expense |
Income tax expense consists of the following:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year ended March 31, |
|
|
|
2024 |
|
|
2025 |
|
|
2026 |
|
Current tax expense |
|
₹ |
34,973 |
|
|
₹ |
45,405 |
|
|
₹ |
42,665 |
|
Deferred tax expense/(reversal) |
|
|
1,116 |
|
|
|
(2,628 |
) |
|
|
(1,898 |
) |
|
|
₹ |
36,089 |
|
|
₹ |
42,777 |
|
|
₹ |
40,767 |
|
|
| Summary of Reconciliation of Income Tax Expense |
The reconciliation between the provision of income tax and amounts computed by applying the Indian statutory income tax rate to profit before taxes is as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year ended March 31, |
|
|
|
2024 |
|
|
2025 |
|
|
2026 |
|
Profit before tax |
|
₹ |
147,210 |
|
|
₹ |
174,957 |
|
|
₹ |
173,422 |
|
Enacted income tax rate in India |
|
|
34.94 |
% |
|
|
34.94 |
% |
|
|
34.94 |
% |
Computed expected tax expense |
|
₹ |
51,435 |
|
|
₹ |
61,130 |
|
|
₹ |
60,594 |
|
Effect of: |
|
|
|
|
|
|
|
|
|
Income exempt from tax |
|
₹ |
(14,897 |
) |
|
₹ |
(12,960 |
) |
|
₹ |
(13,755 |
) |
Basis differences that will reverse during a tax holiday period |
|
|
(202 |
) |
|
|
(332 |
) |
|
|
66 |
|
Income taxed at higher / (lower) rates |
|
|
(7,497 |
) |
|
|
(7,736 |
) |
|
|
(7,393 |
) |
Taxes related to prior years |
|
|
2,567 |
|
|
|
(2,306 |
) |
|
|
(4,141 |
) |
Changes in unrecognized deferred tax assets |
|
|
1,092 |
|
|
|
(17 |
) |
|
|
123 |
|
Expenses disallowed for tax purpose |
|
|
3,945 |
|
|
|
4,460 |
|
|
|
4,803 |
|
Others, net |
|
|
(354 |
) |
|
|
538 |
|
|
|
470 |
|
Income tax expense |
|
₹ |
36,089 |
|
|
₹ |
42,777 |
|
|
₹ |
40,767 |
|
Effective income tax rate |
|
|
24.52 |
% |
|
|
24.45 |
% |
|
|
23.51 |
% |
|
| Summary of Components of Deferred Tax Assets and Liabilities |
The components of deferred tax assets and liabilities are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As at March 31, |
|
|
|
|
|
2025 |
|
|
2026 |
|
Deferred tax assets |
|
|
|
|
|
|
|
|
Carry forward losses (1) |
|
|
|
₹ |
898 |
|
|
₹ |
784 |
|
Trade payables, accrued expenses and other liabilities |
|
|
|
|
7,106 |
|
|
|
7,886 |
|
Allowances for lifetime expected credit loss |
|
|
|
|
1,428 |
|
|
|
2,016 |
|
Cash flow hedges |
|
|
|
|
65 |
|
|
|
2,234 |
|
Contract Assets |
|
|
|
|
- |
|
|
|
151 |
|
Others |
|
|
|
|
144 |
|
|
|
147 |
|
|
|
|
|
₹ |
9,641 |
|
|
₹ |
13,218 |
|
Deferred tax liabilities |
|
|
|
|
|
|
|
|
Property, plant and equipment |
|
|
|
₹ |
(536 |
) |
|
₹ |
(650 |
) |
Amortizable goodwill |
|
|
|
|
(5,449 |
) |
|
|
(6,906 |
) |
Intangible assets |
|
|
|
|
(7,931 |
) |
|
|
(8,407 |
) |
Interest income and fair value movement of investments |
|
|
|
|
(2,912 |
) |
|
|
(2,687 |
) |
Contract liabilities |
|
|
|
|
(209 |
) |
|
|
- |
|
Special Economic Zone re-investment reserve |
|
|
|
|
(3,485 |
) |
|
|
(2,627 |
) |
Undistributed earnings of subsidiaries |
|
|
|
|
(3,001 |
) |
|
|
(3,965 |
) |
|
|
|
|
₹ |
(23,523 |
) |
|
₹ |
(25,242 |
) |
|
|
|
|
|
|
|
|
|
Deferred tax liabilities, net |
|
|
|
₹ |
(13,882 |
) |
|
₹ |
(12,024 |
) |
|
|
|
|
|
|
|
|
|
Amounts presented in consolidated statement of financial position: |
|
|
|
|
|
|
|
|
Deferred tax assets |
|
|
|
₹ |
2,561 |
|
|
₹ |
5,242 |
|
Deferred tax liabilities |
|
|
|
|
(16,443 |
) |
|
|
(17,266 |
) |
(1)Includes deferred tax asset recognized on carry forward losses pertaining to business combinations.
|
| Movement in Deferred Tax Assets and Liabilities |
Movement in deferred tax assets and liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Movement during the year ended
March 31, 2024 |
|
As at April 1, 2023 |
|
|
Credit/ (charge) in the consolidated statement of income |
|
|
Credit/ (charge) in other comprehensive income |
|
|
On account of Business combinations and others |
|
|
Translation adjustment |
|
|
As at March 31, 2024 |
|
Carry forward losses |
|
₹ |
2,624 |
|
|
₹ |
(1,384 |
) |
|
₹ |
- |
|
|
₹ |
- |
|
|
₹ |
14 |
|
|
₹ |
1,254 |
|
Trade payables, accrued expenses and other liabilities |
|
|
6,367 |
|
|
|
(477 |
) |
|
|
(111 |
) |
|
|
(4 |
) |
|
|
18 |
|
|
|
5,793 |
|
Allowances for lifetime expected credit loss |
|
|
1,743 |
|
|
|
(129 |
) |
|
|
- |
|
|
|
- |
|
|
|
4 |
|
|
|
1,618 |
|
Property, plant and equipment |
|
|
(911 |
) |
|
|
(1 |
) |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
(912 |
) |
Amortizable goodwill |
|
|
(3,855 |
) |
|
|
(993 |
) |
|
|
- |
|
|
|
- |
|
|
|
(61 |
) |
|
|
(4,909 |
) |
Intangible assets |
|
|
(10,170 |
) |
|
|
2,067 |
|
|
|
- |
|
|
|
(367 |
) |
|
|
(131 |
) |
|
|
(8,601 |
) |
Interest income and fair value movement of investments |
|
|
(1,170 |
) |
|
|
82 |
|
|
|
(259 |
) |
|
|
- |
|
|
|
- |
|
|
|
(1,347 |
) |
Cash flow hedges |
|
|
359 |
|
|
|
- |
|
|
|
(554 |
) |
|
|
- |
|
|
|
- |
|
|
|
(195 |
) |
Contract asset / (Contract liabilities) |
|
|
(370 |
) |
|
|
(257 |
) |
|
|
- |
|
|
|
5 |
|
|
|
(3 |
) |
|
|
(625 |
) |
Special Economic Zone re-investment reserve |
|
|
(7,237 |
) |
|
|
(583 |
) |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
(7,820 |
) |
Others |
|
|
(433 |
) |
|
|
559 |
|
|
|
- |
|
|
|
(22 |
) |
|
|
(10 |
) |
|
|
94 |
|
Deferred tax liabilities, net |
|
₹ |
(13,053 |
) |
|
₹ |
(1,116 |
) |
|
₹ |
(924 |
) |
|
₹ |
(388 |
) |
|
₹ |
(169 |
) |
|
₹ |
(15,650 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Movement during the year ended
March 31, 2025 |
|
As at April 1, 2024 |
|
|
Credit/ (charge) in the consolidated statement of income |
|
|
Credit/ (charge) in other comprehensive income |
|
|
On account of Business combinations and others |
|
|
Translation adjustment |
|
|
As at March 31, 2025 |
|
Carry forward losses |
|
₹ |
1,254 |
|
|
₹ |
(357 |
) |
|
₹ |
- |
|
|
₹ |
- |
|
|
₹ |
1 |
|
|
₹ |
898 |
|
Trade payables, accrued expenses and other liabilities |
|
|
5,793 |
|
|
|
1,362 |
|
|
|
(49 |
) |
|
|
- |
|
|
|
- |
|
|
|
7,106 |
|
Allowances for lifetime expected credit loss |
|
|
1,618 |
|
|
|
(190 |
) |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
1,428 |
|
Property, plant and equipment |
|
|
(912 |
) |
|
|
371 |
|
|
|
- |
|
|
|
- |
|
|
|
5 |
|
|
|
(536 |
) |
Amortizable goodwill |
|
|
(4,909 |
) |
|
|
(422 |
) |
|
|
- |
|
|
|
- |
|
|
|
(118 |
) |
|
|
(5,449 |
) |
Intangible assets |
|
|
(8,601 |
) |
|
|
1,446 |
|
|
|
- |
|
|
|
(566 |
) |
|
|
(210 |
) |
|
|
(7,931 |
) |
Interest income and fair value movement of investments |
|
|
(1,347 |
) |
|
|
(1,482 |
) |
|
|
(83 |
) |
|
|
- |
|
|
|
- |
|
|
|
(2,912 |
) |
Cash flow hedges |
|
|
(195 |
) |
|
|
- |
|
|
|
260 |
|
|
|
- |
|
|
|
- |
|
|
|
65 |
|
Contract asset / (Contract liabilities) |
|
|
(625 |
) |
|
|
428 |
|
|
|
- |
|
|
|
- |
|
|
|
(12 |
) |
|
|
(209 |
) |
Special Economic Zone re-investment reserve |
|
|
(7,820 |
) |
|
|
4,335 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
(3,485 |
) |
Undistributed earnings of subsidiaries |
|
|
- |
|
|
|
(2,941 |
) |
|
|
- |
|
|
|
- |
|
|
|
(60 |
) |
|
|
(3,001 |
) |
Others |
|
|
94 |
|
|
|
78 |
|
|
|
- |
|
|
|
- |
|
|
|
(28 |
) |
|
|
144 |
|
Deferred tax liabilities, net |
|
₹ |
(15,650 |
) |
|
₹ |
2,628 |
|
|
₹ |
128 |
|
|
₹ |
(566 |
) |
|
₹ |
(422 |
) |
|
₹ |
(13,882 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Movement during the year ended
March 31, 2026 |
|
As at April 1, 2025 |
|
|
Credit/ (charge) in the consolidated statement of income |
|
|
Credit/ (charge) in other comprehensive income |
|
|
On account of Business combination and others |
|
|
Translation adjustment |
|
|
As at March 31, 2026 |
|
Carry forward losses |
|
₹ |
898 |
|
|
₹ |
(239 |
) |
|
₹ |
- |
|
|
₹ |
9 |
|
|
₹ |
116 |
|
|
₹ |
784 |
|
Trade payables, accrued expenses and other liabilities |
|
|
7,106 |
|
|
|
(142 |
) |
|
|
(10 |
) |
|
|
590 |
|
|
|
342 |
|
|
|
7,886 |
|
Allowances for lifetime expected credit loss |
|
|
1,428 |
|
|
|
519 |
|
|
|
- |
|
|
|
33 |
|
|
|
36 |
|
|
|
2,016 |
|
Property, plant and equipment |
|
|
(536 |
) |
|
|
(392 |
) |
|
|
- |
|
|
|
248 |
|
|
|
30 |
|
|
|
(650 |
) |
Amortizable goodwill |
|
|
(5,449 |
) |
|
|
(873 |
) |
|
|
- |
|
|
|
- |
|
|
|
(584 |
) |
|
|
(6,906 |
) |
Intangible assets |
|
|
(7,931 |
) |
|
|
2,277 |
|
|
|
- |
|
|
|
(1,915 |
) |
|
|
(838 |
) |
|
|
(8,407 |
) |
Interest income and fair value movement of investments |
|
|
(2,912 |
) |
|
|
346 |
|
|
|
323 |
|
|
|
(369 |
) |
|
|
(75 |
) |
|
|
(2,687 |
) |
Cash flow hedges |
|
|
65 |
|
|
|
(87 |
) |
|
|
2,257 |
|
|
|
- |
|
|
|
(1 |
) |
|
|
2,234 |
|
Contract asset / (Contract liabilities) |
|
|
(209 |
) |
|
|
124 |
|
|
|
- |
|
|
|
230 |
|
|
|
6 |
|
|
|
151 |
|
Special Economic Zone re-investment reserve |
|
|
(3,485 |
) |
|
|
858 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
(2,627 |
) |
Undistributed earnings of subsidiaries |
|
|
(3,001 |
) |
|
|
(587 |
) |
|
|
- |
|
|
|
- |
|
|
|
(377 |
) |
|
|
(3,965 |
) |
Others |
|
|
144 |
|
|
|
94 |
|
|
|
- |
|
|
|
(57 |
) |
|
|
(34 |
) |
|
|
147 |
|
Deferred tax liabilities, net |
|
₹ |
(13,882 |
) |
|
₹ |
1,898 |
|
|
₹ |
2,570 |
|
|
₹ |
(1,231 |
) |
|
₹ |
(1,379 |
) |
|
₹ |
(12,024 |
) |
|