Exhibit 99.3

WIPRO LIMITED AND SUBSIDIARIES

INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS UNDER IFRS

AS AT AND FOR THE THREE MONTHS ENDED JUNE 30, 2026

WIPRO LIMITED AND SUBSIDIARIES

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

(₹ in millions, except share and per share data, unless otherwise stated)

 

		Notes				As at March 31, 2026				As at June 30, 2026
														Convenience translation into U.S. Dollar in millions (unaudited) Refer to Note 2(iii)
ASSETS
Goodwill			6				387,399				404,360				4,272
Intangible assets			6				29,176				51,902				548
Property, plant and equipment			4				81,787				81,359				859
Right-of-Use assets			5				28,287				27,883				295
Financial assets
Investments			8				28,053				29,181				308
Trade receivables							349				348				4
Unbilled receivables							7,433				8,806				93
Other financial assets			11				6,259				6,644				70
Investments accounted for using the equity method							2,126				2,119				22
Deferred tax assets							5,242				4,359				46
Contract assets							—				160				2
Non-current tax assets							7,787				7,617				80
Other non-current assets			12				9,010				9,089				96
Total non-current assets							592,908				633,827				6,695
Inventories			9				517				869				9
Financial assets
Derivative assets			18				888				1,925				20
Investments			8				437,680				307,281				3,246
Cash and cash equivalents			10				105,555				88,444				934
Trade receivables							135,901				132,708				1,402
Unbilled receivables							76,823				79,504				840
Other financial assets			11				10,245				12,738				135
Contract assets							14,819				15,171				161
Current tax assets							10,762				10,996				116
Other current assets			12				33,164				33,630				355
Total current assets							826,354				683,266				7,218
TOTAL ASSETS							1,419,262				1,317,093				13,913
EQUITY
Share capital							20,977				19,807				209
Share premium							6,158				1,166				12
Retained earnings							735,057				626,854				6,622
Share-based payment reserve							7,920				5,056				53
Special Economic Zone Re-investment reserve							25,966				23,947				253
Other components of equity							89,290				97,880				1,034
Equity attributable to the equity holders of the Company							885,368				774,710				8,183
Non-controlling interests							2,509				2,059				22
TOTAL EQUITY							887,877				776,769				8,205
LIABILITIES
Financial liabilities
Loans and borrowings			13				1,962				—				—
Lease liabilities							26,327				26,326				278
Accrued expenses			14				4,394				4,320				46
Other financial liabilities			15				6,743				8,299				88
Deferred tax liabilities							17,266				21,918				232
Non-current tax liabilities							48,195				45,822				484
Other non-current liabilities			16				23,042				24,832				262
Provisions			17				224				144				2
Total non-current liabilities							128,153				131,661				1,392
Financial liabilities
Loans, borrowings and bank overdrafts			13				165,912				177,649				1,877
Lease liabilities							8,709				8,847				93
Derivative liabilities			18				10,978				4,645				49
Trade payables and accrued expenses			14				94,924				94,219				995
Other financial liabilities			15				11,357				4,305				45
Contract liabilities							25,434				22,927				242
Current tax liabilities							49,621				56,551				597
Other current liabilities			16				34,801				38,300				405
Provisions			17				1,496				1,220				13
Total current liabilities							403,232				408,663				4,316
TOTAL LIABILITIES							531,385				540,324				5,708
TOTAL EQUITY AND LIABILITIES							1,419,262				1,317,093				13,913

 

The accompanying notes form an integral part of these interim condensed consolidated financial statements

 

As per our report of even date attached		For and on behalf of the Board of Directors
for Deloitte Haskins & Sells LLP Chartered Accountants Firm’s Registration No: 117366W/W - 100018		Rishad A. Premji Chairman (DIN: 02983899)		Deepak M. Satwalekar Director (DIN: 00009627)		Srinivas Pallia Chief Executive Officer and Managing Director (DIN: 10574442)
Anand Subramanian Partner Membership No.: 110815		Aparna C. Iyer Chief Financial Officer				M. Sanaulla Khan Company Secretary Membership No.: F4129
Bengaluru July 16, 2026

 

1

WIPRO LIMITED AND SUBSIDIARIES

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(₹ in millions, except share and per share data, unless otherwise stated)

 

						Three months ended June 30,
		Notes				2025				2026				2026
														Convenience translation into U.S. Dollar in millions (unaudited) Refer to Note 2(iii)
Revenues			21				221,346				244,786				2,586
Cost of revenues			22				(157,247	)			(174,900	)			(1,848	)
Gross profit							64,099				69,886				738
Selling and marketing expenses			22				(15,285	)			(16,496	)			(174	)
General and administrative expenses			22				(13,272	)			(14,963	)			(158	)
Foreign exchange gains/(losses), net			24				182				779				8
Results from operating activities							35,724				39,206				414
Finance expenses			23				(3,608	)			(4,728	)			(50	)
Finance and other income			24				10,417				8,872				94
Share of net profit/ (loss) of associate and joint venture accounted for using the equity method							50				(5	)			^
Profit before tax							42,583				43,345				458
Income tax expense			20				(9,218	)			(9,782	)			(103	)
Profit for the period							33,365				33,563				355
Profit attributable to:
Equity holders of the Company							33,304				33,520				355
Non-controlling interests							61				43				^
Profit for the period							33,365				33,563				355
Earnings per equity share:			25
Attributable to equity holders of the Company
Basic							3.18				3.20				0.03
Diluted							3.17				3.20				0.03
Weighted average number of equity shares used in computing earnings per equity share
Basic							10,472,085,808				10,459,341,744				10,459,341,744
Diluted							10,492,102,015				10,475,511,031				10,475,511,031

^ Value is less than 0.5

 

The accompanying notes form an integral part of these interim condensed consolidated financial statements

 

As per our report of even date attached		For and on behalf of the Board of Directors
for Deloitte Haskins & Sells LLP Chartered Accountants Firm’s Registration No: 117366W/W- 100018		Rishad A. Premji Chairman (DIN: 02983899)		Deepak M. Satwalekar Director (DIN: 00009627)		Srinivas Pallia Chief Executive Officer and Managing Director (DIN: 10574442)
Anand Subramanian Partner Membership No.: 110815		Aparna C. Iyer Chief Financial Officer				M. Sanaulla Khan Company Secretary Membership No.: F4129
Bengaluru July 16, 2026

 

2

WIPRO LIMITED AND SUBSIDIARIES

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(₹ in millions, except share and per share data, unless otherwise stated)

 

		Three months ended June 30,
		2025				2026				2026
										Convenience translation into U.S. Dollar in millions (unaudited) Refer to Note 2(iii)
Profit for the period			33,365				33,563				355
Other comprehensive income (OCI)
Items that will not be reclassified to profit or loss in subsequent periods
Remeasurements of the defined benefit plans, net			(229	)			392				4
Net change in fair value of investment in equity instruments measured at fair value through OCI			(1	)			660				7
			(230	)			1,052				11
Items that will be reclassified to profit or loss in subsequent periods
Foreign currency translation differences			6,583				(1,159	)			(12	)
Net change in time value of option contracts designated as cash flow hedges, net of taxes			(274	)			180				2
Net change in intrinsic value of option contracts designated as cash flow hedges, net of taxes			170				912				9
Net change in fair value of forward contracts designated as cash flow hedges, net of taxes			(1	)			3,767				40
Net change in fair value of investment in debt instruments measured at fair value through OCI, net of taxes			588				482				5
			7,066				4,182				44
Total other comprehensive income, net of taxes			6,836				5,234				55
Total comprehensive income for the period			40,201				38,797				410
Total comprehensive income attributable to:
Equity holders of the Company			40,137				38,757				410
Non-controlling interests			64				40				^
			40,201				38,797				410
^ Value is less than 0.5

 

The accompanying notes form an integral part of these interim condensed consolidated financial statements

 

As per our report of even date attached		For and on behalf of the Board of Directors
for Deloitte Haskins & Sells LLP Chartered Accountants Firm’s Registration No: 117366W/W - 100018		Rishad A. Premji Chairman (DIN: 02983899)		Deepak M. Satwalekar Director (DIN: 00009627)		Srinivas Pallia Chief Executive Officer and Managing Director (DIN: 10574442)
Anand Subramanian Partner Membership No.: 110815		Aparna C. Iyer Chief Financial Officer				M. Sanaulla Khan Company Secretary Membership No.: F4129
Bengaluru July 16, 2026

 

3

WIPRO LIMITED AND SUBSIDIARIES

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

(₹ in millions, except share and per share data, unless otherwise stated)

 

																										Other components of equity
Particulars		Number of shares (1)				Share capital, fully paid-up				Share premium				Retained earnings				Share- based payment reserve				Special Economic Zone Re- investment reserve				Foreign currency translation reserve (2)				Cash flow hedging reserve (3)				Other reserves (2)				Equity attributable to the equity holders of the Company				Non- controlling interests				Total equity
As at April 1, 2025			10,472,136,049				20,944				2,628				716,477				6,985				27,778				54,500				(210	)			(793	)			828,309				2,138				830,447
Comprehensive income for the period
Profit for the period			—				—				—				33,304				—				—				—				—				—				33,304				61				33,365
Other comprehensive income			—				—				—				—				—				—				6,575				(105	)			363				6,833				3				6,836
Total comprehensive income for the period			—				—				—				33,304				—				—				6,575				(105	)			363				40,137				64				40,201
Issue of equity shares on exercise of options			10,182,081				21				2,197				—				(2,197	)			—				—				—				—				21				—				21
Dividend			—				—				—				—				—				—				—				—				—				—				(569	)			(569	)
Compensation cost related to employee share-based payment			—				—				—				—				436				—				—				—				—				436				—				436
Transferred from Special Economic Zone Re-investment reserve			—				—				—				893				—				(893	)			—				—				—				—				—				—
Others			—				—				—				—				—				—				(5	)			5				—				—				55				55
Other transactions for the period			10,182,081				21				2,197				893				(1,761	)			(893	)			(5	)			5				—				457				(514	)			(57	)
As at June 30, 2025			10,482,318,130				20,965				4,825				750,674				5,224				26,885				61,070				(310	)			(430	)			868,903				1,688				870,591

 

(1)	Includes 11,905,480 treasury shares held as at June 30, 2025 by a controlled trust.

(2)	Refer to Note 18

(3)	Refer to Note 17

 

4

WIPRO LIMITED AND SUBSIDIARIES

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

(₹ in millions, except share and per share data, unless otherwise stated)

 

																										Other components of equity
Particulars		Number of shares (1)				Share capital, fully paid-up				Share premium				Retained earnings				Share- based payment reserve				Special Economic Zone Re- investment reserve				Foreign currency translation reserve (2)				Cash flow hedging reserve (3)				Other reserves (2)				Equity attributable to the equity holders of the Company				Non- controlling interests				Total equity
As at April 1, 2026			10,488,412,458				20,977				6,158				735,057				7,920				25,966				100,872				(7,399	)			(4,183	)			885,368				2,509				887,877
Comprehensive income for the period
Profit for the period			—				—				—				33,520				—				—				—				—				—				33,520				43				33,563
Other comprehensive income			—				—				—				—				—				—				(1,156	)			4,859				1,534				5,237				(3	)			5,234
Total comprehensive income for the period			—				—				—				33,520				—				—				(1,156	)			4,859				1,534				38,757				40				38,797
Issue of equity shares on exercise of options			15,137,339				30				3,465				—				(3,465	)			—				—				—				—				30				—				30
Transfer of shares pertaining to Non-controlling interests of subsidiary			—				—				—				(1,702	)			—				—				59				—				2,094				451				(451	)			—
Compensation cost related to employee share-based payment			—				—				—				—				601				—				—				—				—				601				—				601
Transferred from Special Economic Zone Re-investment reserve			—				—				—				2,019				—				(2,019	)			—				—				—				—				—				—
Buyback of equity shares (4)			(600,000,000	)			(1,200	)			(8,457	)			(141,543	)			—				—				—				—				1,200				(150,000	)			—				(150,000	)
Transaction cost related to buyback of equity shares (4)			—				—				—				(497	)			—				—				—				—				—				(497	)			—				(497	)
Others			—				—				—				—				—				—				—				—				—				—				(39	)			(39	)
Other transactions for the period			(584,862,661	)			(1,170	)			(4,992	)			(141,723	)			(2,864	)			(2,019	)			59				—				3,294				(149,415	)			(490	)			(149,905	)
As at June 30, 2026			9,903,549,797				19,807				1,166				626,854				5,056				23,947				99,775				(2,540	)			645				774,710				2,059				776,769
Convenience translation into U.S. Dollar in millions (unaudited) Refer to Note 2(iii)							209				12				6,622				53				253				1,054				(27	)			7				8,183				22				8,205

 

(1)	Includes 11,905,480 treasury shares held as at June 30, 2026 by a controlled trust.

(2)	Refer to Note 19

(3)	Refer to Note 18

(4)	Refer to Note 30

The accompanying notes form an integral part of these interim condensed consolidated financial statements

 

As per our report of even date attached		For and on behalf of the Board of Directors
for Deloitte Haskins & Sells LLP		Rishad A. Premji		Deepak M. Satwalekar		Srinivas Pallia
Chartered Accountants		Chairman		Director		Chief Executive Officer and
Firm’s Registration No: 117366W/W - 100018		(DIN: 02983899)		(DIN: 00009627)		Managing Director
						(DIN: 10574442)
Anand Subramanian		Aparna C. Iyer				M. Sanaulla Khan
Partner		Chief Financial Officer				Company Secretary
Membership No.: 110815						Membership No.: F4129
Bengaluru
July 16, 2026

 

5

WIPRO LIMITED AND SUBSIDIARIES

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(₹ in millions, except share and per share data, unless otherwise stated)

 

		Three months ended June 30,
				2025				2026				2026
		Notes										Convenience translation into U.S. Dollar in millions (unaudited) Refer to Note 2(iii)
Cash flows from operating activities
Profit for the period					33,365				33,563				355
Adjustments to reconcile profit for the period to net cash generated from operating activities:
Gain on sale of property, plant and equipment, net					(66	)			(139	)			(1	)
Depreciation, amortization and impairment expense		22			6,855				8,044				85
Unrealized exchange (gain)/loss, net					1,449				(995	)			(11	)
Share-based compensation expense					436				601				6
Share of net (profit)/loss of associate and joint venture accounted for using equity method					(50	)			5				^
Income tax expense		20			9,218				9,782				103
Finance and other income, net of finance expenses					(6,809	)			(4,144	)			(44	)
Change in fair value of contingent consideration					48				—				—
Lifetime expected credit loss/(write-back)		22			502				(152	)			(2	)
Changes in operating assets and liabilities, net of effects from acquisitions
(Increase)/Decrease in trade receivables					154				4,172				45
(Increase)/Decrease in unbilled receivables and contract assets					(7,148	)			(3,734	)			(39	)
(Increase)/Decrease in inventories					125				(355	)			(4	)
(Increase)/Decrease in other financial assets and other assets					(249	)			2,414				26
Increase/(Decrease) in trade payables, accrued expenses, other financial liabilities, other liabilities and provisions					2,021				(6,160	)			(65	)
Increase/(Decrease) in contract liabilities					561				(4,043	)			(43	)
Cash generated from operating activities before taxes					40,412				38,859				411
Income taxes (paid)/refund, net					707				(5,979	)			(63	)
Net cash generated from operating activities					41,119				32,880				348
Cash flows from investing activities:
Payment for purchase of property, plant and equipment					(2,742	)			(3,379	)			(36	)
Proceeds from disposal of property, plant and equipment					12				116				1
Payment for purchase of investments					(235,272	)			(328,755	)			(3,473	)
Proceeds from sale of investments					232,843				454,123				4,797
Payment for business acquisitions, net of cash acquired		7			—				(32,971	)			(348	)
Interest received					7,575				9,640				102
Net cash generated from/(used in) investing activities					2,416				98,774				1,043
Cash flows from financing activities:
Proceeds from issuance of equity shares and shares pending allotment					21				30				^
Repayment of loans and borrowings					(92,328	)			(136,099	)			(1,438	)
Proceeds from loans and borrowings					56,783				145,994				1,542
Payment of lease liabilities including interest					(2,761	)			(3,059	)			(32	)
Payment for contingent consideration					(313	)			—				—
Payment of deferred consideration on business combination					(214	)			—				—
Purchase of shares from Non-controlling interest holders		7			—				(2,851	)			(30	)
Payment for buy back of equity shares, including transaction costs					—				(150,497	)			(1,590	)
Interest and finance expenses paid					(2,070	)			(2,107	)			(22	)
Payment of dividend to Non-controlling interest holders					(569	)			—				—
Net cash generated from/(used) in financing activities					(41,451	)			(148,589	)			(1,570	)
Net increase/(decrease) in cash and cash equivalents during the period					2,084				(16,935	)			(179	)
Effect of exchange rate changes on cash and cash equivalents					1,705				(182	)			(2	)
Cash and cash equivalents at the beginning of the period		10			121,974				105,555				1,115
Cash and cash equivalents at the end of the period		10			125,763				88,438				934

^ Value is less than 0.5

 

The accompanying notes form an integral part of these interim condensed consolidated financial statements

As per our report of even date attached		For and on behalf of the Board of Directors
for Deloitte Haskins & Sells LLP		Rishad A. Premji		Deepak M. Satwalekar		Srinivas Pallia
Chartered Accountants		Chairman		Director		Chief Executive Officer and
Firm’s Registration No: 117366W/W - 100018		(DIN: 02983899)		(DIN: 00009627)		Managing Director
						(DIN: 10574442)
Anand Subramanian		Aparna C. Iyer				M. Sanaulla Khan
Partner		Chief Financial Officer				Company Secretary
Membership No.: 110815						Membership No.: F4129
Bengaluru
July 16, 2026

 

6

WIPRO LIMITED AND SUBSIDIARIES

NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(₹ in millions, except share and per share data, unless otherwise stated)

1. The Company overview

Wipro Limited (“Wipro” or the “Parent Company”), together with its subsidiaries and controlled trusts (collectively, “we”, “us”, “our”, “the Company” or “the Group”) is a leading artificial intelligence (“AI”) powered technology services and consulting company focused on building innovative solutions that address clients’ most complex digital transformation needs. Leveraging our consulting-led approach and the Wipro Intelligence^™ unified suite of AI-powered platforms, solutions and transformative offerings, we help clients realize their boldest ambitions to build intelligent and sustainable businesses.

Wipro is a public limited company incorporated and domiciled in India. The address of its registered office is Wipro Limited, Doddakannelli, Sarjapur Road, Bengaluru – 560 035, Karnataka, India. The Company has its primary listing with BSE Ltd. and National Stock Exchange of India Limited. The Company’s American Depository Shares (“ADS”) representing equity shares are also listed on the New York Stock Exchange.

The Company’s Board of Directors authorized these interim condensed consolidated financial statements for issue on July 16, 2026.

2. Basis of preparation of interim condensed consolidated financial statements

(i) Statement of compliance and basis of preparation

The interim condensed consolidated financial statements have been prepared in compliance with IAS 34, “Interim Financial Reporting”, as issued by the International Accounting Standards Board (“IASB”). Selected explanatory notes are included to explain events and transactions that are significant to understand the changes in financial position and performance of the Company since the last annual consolidated financial statements as at and for the year ended March 31, 2026. These interim condensed consolidated financial statements do not include all the information required for full annual financial statements prepared in accordance with International Financial Reporting Standards and its interpretations (“IFRS”).

The interim condensed consolidated financial statements correspond to the classification provisions contained in IAS 1 (revised), “Presentation of Financial Statements”. For clarity, various items are aggregated in the interim condensed consolidated statements of income, interim condensed consolidated statements of comprehensive income and interim condensed consolidated statements of financial position. These items are disaggregated separately in the notes to the interim condensed consolidated financial statements, where applicable. The accounting policies have been consistently applied to all periods presented in these interim condensed consolidated financial statements except for new accounting standards, amendments and interpretations adopted by the Company effective from April 1, 2026.

The assets which are expected to be realized within a period of twelve months from the end of reporting period are classified as current assets. Similarly, the liabilities which are expected to be settled within a period of twelve months from the end of reporting period are classified as current liabilities. All other assets and liabilities are classified as non-current.

All amounts included in the interim condensed consolidated financial statements are reported in millions of Indian Rupees (₹ in millions) except share and per share data, unless otherwise stated. Due to rounding off, the numbers presented throughout the document may not add up precisely to the totals and percentages may not precisely reflect the absolute figures. Previous period figures have been regrouped/rearranged, wherever necessary.

(ii) Basis of measurement

The interim condensed consolidated financial statements have been prepared on a historical cost convention and on an accrual basis, except for the following material items which have been measured at fair value as required by relevant IFRS:

 

a.

Derivative financial instruments;

 

b.

Financial instruments classified as fair value through other comprehensive income or fair value through profit or loss;

 

c.

The defined benefit liability/(asset) is recognized as the present value of defined benefit obligation less fair value of plan assets; and

 

d.

Contingent consideration and liability on written put options.

(iii) Convenience translation (unaudited)

The accompanying interim condensed consolidated financial statements have been prepared and reported in Indian Rupees, the functional currency of the Parent Company. Solely for the convenience of the readers, the interim condensed consolidated financial statements as at and for the three months ended June 30, 2026, have been translated into United States Dollars at the certified foreign exchange rate of U.S.$1 = ₹ 94.66 as published by Federal Reserve Board of Governors on June 30, 2026. No representation is made that the Indian Rupee amounts have been, could have been or could be converted into United States Dollars at such a rate or any other rate. Due to rounding off, the translated numbers presented throughout the document may not add up precisely to the totals.

(iv) Use of estimates and judgment

The preparation of the interim condensed consolidated financial statements in conformity with IFRS requires the management to make judgments, accounting estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Accounting estimates are monetary amounts in the interim condensed consolidated financial statements that are subject to measurement uncertainty. An accounting policy may require items in the interim condensed consolidated financial statements to be measured at monetary

 

7

amounts that cannot be observed directly and must instead be estimated. In such a case, management develops an accounting estimate to achieve the objective set out by the accounting policy. Developing accounting estimates involves the use of judgements or assumptions based on the latest available and reliable information. Actual results may differ from those accounting estimates.

Accounting estimates and underlying assumptions are reviewed on an ongoing basis. Changes to accounting estimates are recognized in the period in which the estimates are changed and in any future periods affected. In particular, information about material areas of estimation, uncertainty and critical judgments in applying accounting policies that have material effect on the amounts recognized in the interim condensed consolidated financial statements are included in the following notes:

 

a)

Revenue recognition: The Company applies judgement to determine whether each product or service promised to a customer is capable of being distinct, and is distinct in the context of the contract, if not, the promised product or service is combined and accounted as a single performance obligation. Revenue is recognized upon transfer of control of promised products or services to customers in an amount that reflects the consideration the Company expects to receive (the “Transaction Price”). The Company allocates the Transaction Price to separately identifiable performance obligation deliverables based on their relative stand-alone selling price. In cases where the Company is unable to determine the stand-alone selling price the Company uses expected cost-plus margin approach in estimating the stand-alone selling price. The Company uses the percentage of completion method using the input (cost expended) method to measure progress towards completion in respect of fixed-price contracts. Percentage of completion method accounting relies on estimates of total expected contract revenue and costs. This method is followed when reasonably dependable estimates of the revenues and costs applicable to various elements of the contract can be made. Key factors that are reviewed in estimating the future costs to complete include estimates of future labor costs and productivity efficiencies. Because the financial reporting of these contracts depends on estimates that are assessed continually during the term of these contracts, revenue recognized, profit and timing of revenue for remaining performance obligations are subject to revisions as the contract progresses to completion. When estimates indicate that a loss will be incurred, the loss is provided for in the period in which the loss becomes probable. Volume discounts are recorded as a reduction of revenue. When the amount of discount varies with the levels of revenue, volume discount is recorded based on estimate of future revenue from the customer.

 

b)

Impairment testing: Goodwill recognized on business combination is tested for impairment at least annually and when events occur or changes in circumstances indicate that the recoverable amount of goodwill or a cash generating unit to which goodwill pertains, is less than the carrying value. The Company assesses acquired intangible assets with finite useful life for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. The recoverable amount of an asset or a cash generating unit is higher of value-in-use and fair value less cost of disposal. The calculation of value in use of an asset or a cash generating unit involves use of significant estimates and assumptions which include turnover, growth rates and net margins used to calculate projected future cash flows, risk-adjusted discount rate, future economic and market conditions.

 

c)

Income taxes: The major tax jurisdictions for the Company are India and the United States of America.

Significant judgments are involved in determining the provision for income taxes including judgment on whether tax positions are probable of being sustained in tax assessments. A tax assessment can involve complex issues, which can only be resolved over extended time periods.

Deferred tax is recorded on temporary differences between the tax bases of assets and liabilities and their carrying amounts, at the rates that have been enacted or substantively enacted at the reporting date. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable profits during the periods in which those temporary differences and tax loss carry-forwards become deductible. The Company considers expected reversal of deferred tax liabilities and projected future taxable income in making this assessment. The amount of deferred tax assets considered realizable, however, could reduce in the near term if estimates of future taxable income during the carry-forward period are reduced.

 

d)

Business combinations: In accounting for business combinations, judgment is required to assess whether an identifiable intangible asset is to be recorded separately from goodwill. Additionally, estimating the acquisition date fair value of the identifiable assets acquired (including useful life estimates), liabilities assumed, and contingent consideration assumed involves management judgment. These measurements are based on information available at the acquisition date and are based on expectations and assumptions that have been deemed reasonable by management. Changes in these judgments, estimates, and assumptions can materially affect the results of operations.

 

e)

Defined benefit plans and compensated absences: The cost of the defined benefit plans, compensated absences and the present value of the defined benefit obligations are based on actuarial valuation using the projected unit credit method. An actuarial valuation involves making various assumptions that may differ from actual developments in the future. These include the determination of the discount rate, future salary increases and mortality rates. Due to the complexities involved in the valuation and its long-term nature, a defined benefit obligation is highly sensitive to changes in these assumptions. All assumptions are reviewed at each reporting date.

 

f)

Expected credit losses on financial assets: The impairment provisions of financial assets are based on assumptions about risk of default and expected timing of collection. The Company uses judgment in making these assumptions and selecting the inputs to the expected credit loss calculation based on the Company’s history of collections, customer’s creditworthiness, existing market conditions as well as forward looking estimates at the end of each reporting period.

 

g)

Useful lives of property, plant and equipment: The Company depreciates property, plant and equipment on a straight-line basis over estimated useful lives of the assets. The charge in respect of periodic depreciation is derived based on an estimate of an asset’s expected useful life and the expected residual value at the end of its life. The lives are based on historical experience with similar assets as well as anticipation of future events, which may impact their life, such as changes in technology. The estimated useful life is reviewed at least annually.

 

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h)

Provisions and contingent liabilities: The Company estimates the provisions that have present obligations as a result of past events and it is probable that outflow of resources will be required to settle the obligations. These provisions are reviewed at the end of each reporting date and are adjusted to reflect the current best estimates.

The Company uses significant judgement to disclose contingent liabilities. Contingent liabilities are disclosed when there is a possible obligation arising from past events, the existence of which will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the Company or a present obligation that arises from past events where it is either not probable that an outflow of resources will be required to settle the obligation or a reliable estimate of the amount cannot be made. Contingent assets are neither recognized nor disclosed in the financial statements.

3. Material accounting policy information

Please refer to the Company’s Annual report for the year ended March 31, 2026, for a discussion of the Company’s other material accounting policy information except for new accounting standards, amendments and interpretations adopted by the Company effective on or after April 1, 2026.

 

i.	New amendment adopted by the Company effective from April 1, 2026:

Amendments to IFRS 9 and IFRS 7 – Classification and Measurement of Financial Instruments

On May 30, 2024, IASB issued ‘Classification and Measurement of Financial Instruments (Amendments to IFRS 9 and IFRS 7)’ to address matters identified during the post-implementation review of IFRS 9. The amendments clarify that a financial liability is derecognized on the ‘settlement date’ and introduce an accounting policy choice to derecognize financial liabilities settled using an electronic payment system before settlement date. The classification of financial asset with ESG linked features has been clarified through additional guidance on the assessment of contingent features. Additional disclosures are introduced for financial instruments with contingent features and equity instruments classified as fair value through OCI. These amendments are effective for annual reporting periods beginning on or after January 1, 2026, with earlier application permitted. The adoption of amendments to IFRS 9 and IFRS 7 did not have any material impact on the interim condensed consolidated financial statements.

Amendments to IFRS 9 and IFRS 7 - Contracts referencing Nature-dependent electricity

The International Accounting Standards Board (IASB) has published amendments to IFRS 9 and IFRS 7 titled Contracts Referencing Nature-dependent Electricity. The IASB has added application guidance to IFRS 9 to address specifically whether a contract to buy electricity generated from a source dependent on natural conditions is held for the entity’s own-use expectations. The amendments also address specifically how an entity applies the hedge accounting requirements in IFRS 9 when a contract referencing nature-dependent electricity with a variable nominal amount is designated as the hedging instrument. The IASB decided to add complementary disclosure requirements to IFRS 7. The amendments are effective for annual periods beginning on or after 1 January 2026, with earlier application permitted. The adoption of amendments to IFRS 9 and IFRS 7 did not have any material impact on the interim condensed consolidated financial statements.

 

ii.	New amendments not yet adopted:

Certain new standards, amendments to standards and interpretations are not yet effective for annual periods beginning after April 1, 2026 and have not been applied in preparing these interim condensed consolidated financial statements. New standards, amendments to standards and interpretations that could have potential impact on the interim condensed consolidated financial statements of the Company are:

IFRS 18 – Presentation and Disclosure in Financial Statements

On April 9, 2024, IASB issued IFRS 18 ‘Presentation and Disclosure in Financial Statements’ which supersedes IAS 1 ‘Presentation of Financial Statements’, aimed at improving comparability and transparency of communication in financial statements. IFRS 18 requires an entity to classify all income and expenses within its statement of profit or loss into one of five categories: operating, investing, financing, income taxes and discontinued operations. These categories are complemented by the requirement to present specified totals and subtotals for ‘operating profit or loss’, ‘profit or loss before financing and income taxes’ and ‘profit or loss’. It also requires disclosure of management-defined performance measures and includes new requirements for aggregation and disaggregation of financials information based on the identified ‘roles’ of the primary financial statements and the notes.

Consequent to above, a narrow-scope amendments have been made to IAS 7 ‘Statement of Cash Flows’, which include changing the starting point for determining cash flows from operations under the indirect method from ‘profit or loss’ to ‘operating profit or loss’. Further, some requirements previously included within IAS 1 have been moved to IAS 8 ‘Accounting Policies, Changes in Accounting Estimates and Errors’ which has also been renamed IAS 8 ‘Basis of Preparation of Financial Statements’. IAS 34 ‘ Interim Financial Reporting’ was amended to require disclosure of management defined performance measures. Minor consequential amendments to other standards were also made.

An entity that prepares condensed interim financial statements in accordance with IAS 34 in the first year of adoption of IFRS 18, must present the heading and mandatory subtotals it expects to use in its annual financial statement. Comparative period in both the interim and annual financial statements will need to be restated and a reconciliation of the statement of profit or loss previously published will be required for the immediately preceding comparative period. IFRS 18 and the amendments to the other standards, is effective for reporting period beginning on or after January 1, 2027 and are to be applied retrospectively, with earlier application permitted. The Company is currently assessing the impact of adopting IFRS 18 and the amendments to other standards, on the interim condensed consolidated financial statements.

 

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4. Property, plant and equipment

 

		Land				Buildings				Plant and equipments (1)				Furniture and fixtures				Office equipments				Vehicles				Total
Gross carrying value:
As at April 1, 2025		₹	4,373			₹	52,556			₹	99,554			₹	19,576			₹	7,663			₹	34			₹	183,756
Additions			—				—				1,257				934				139				1				2,331
Disposals			—				(69	)			(1,955	)			(58	)			(8	)			^				(2,090	)
Translation adjustment			15				145				876				70				44				^				1,150
As at June 30, 2025		₹	4,388			₹	52,632			₹	99,732			₹	20,522			₹	7,838			₹	35			₹	185,147
Accumulated depreciation/ impairment:
As at April 1, 2025		₹	—			₹	12,997			₹	73,459			₹	12,989			₹	5,821			₹	17			₹	105,283
Depreciation and impairment			—				487				2,481				607				168				1				3,744
Disposals			—				(67	)			(1,935	)			(47	)			(8	)			^				(2,057	)
Translation adjustment			—				66				754				48				35				^				903
As at June 30, 2025		₹	—			₹	13,483			₹	74,759			₹	13,597			₹	6,016			₹	18			₹	107,873
Net carrying value as at June 30, 2025		₹	4,388			₹	39,149			₹	24,973			₹	6,925			₹	1,822			₹	17			₹	77,274
Capital work-in-progress																										₹	2,480
Net carrying value including Capital work-in-progress as at June 30, 2025																										₹	79,754
Gross carrying value:
As at April 1, 2025		₹	4,373			₹	52,556			₹	99,554			₹	19,576			₹	7,663			₹	34			₹	183,756
Additions			—				923				9,253				1,795				737				3				12,711
Additions through Business combination			—				131				109				22				99				1				362
Disposals			—				(821	)			(14,979	)			(1,449	)			(720	)			(2	)			(17,971	)
Translation adjustment			31				440				3,182				270				147				1				4,071
As at March 31, 2026		₹	4,404			₹	53,229			₹	97,119			₹	20,214			₹	7,926			₹	37			₹	182,929
Accumulated depreciation/ impairment:
As at April 1, 2025						₹	12,997			₹	73,459			₹	12,989			₹	5,821			₹	17			₹	105,283
Depreciation and impairment			—				1,848				9,669				2,387				686				5				14,595
Disposals			—				(695	)			(14,730	)			(1,245	)			(697	)			(1	)			(17,368	)
Translation adjustment			—				211				2,670				197				116				1				3,195
As at March 31, 2026		₹	—			₹	14,361			₹	71,068			₹	14,328			₹	5,926			₹	22			₹	105,705
Net carrying value as at March 31, 2026		₹	4,404			₹	38,868			₹	26,051			₹	5,886			₹	2,000			₹	15			₹	77,224
Capital work-in-progress																										₹	4,563
Net carrying value including Capital work-in-progress as at March 31, 2026																										₹	81,787
Gross carrying value:
As at April 1, 2026		₹	4,404			₹	53,229			₹	97,119			₹	20,214			₹	7,926			₹	37			₹	182,929
Additions			—				28				1,879				142				120				1				2,170
Additions through Business combination (Refer to Note 7)			—				177				154				47				27				1				406
Disposals			—				(20	)			(3,602	)			(173	)			(12	)			(1	)			(3,808	)
Translation adjustment			(2	)			(11	)			(99	)			(6	)			2				^				(116	)
As at June 30, 2026		₹	4,402			₹	53,403			₹	95,451			₹	20,224			₹	8,063			₹	38			₹	181,581
Accumulated depreciation/ impairment:
As at April 1, 2026		₹	—			₹	14,361			₹	71,068			₹	14,328			₹	5,926			₹	22			₹	105,705
Depreciation and impairment			—				489				2,548				563				188				1				3,789
Disposals			—				(18	)			(3,526	)			(162	)			(14	)			(1	)			(3,721	)
Translation adjustment			—				3				(81	)			(4	)			3				^				(79	)
As at June 30, 2026		₹	—			₹	14,835			₹	70,009			₹	14,725			₹	6,103			₹	22			₹	105,694
Net carrying value as at June 30, 2026		₹	4,402			₹	38,568			₹	25,442			₹	5,499			₹	1,960			₹	16			₹	75,887
Capital work-in-progress																										₹	5,472
Net carrying value including Capital work-in-progress as at June 30, 2026																										₹	81,359

 

(1)	Including net carrying value of computer equipment and software amounting to ₹ 15,184, ₹ 16,719 and ₹ 16,287, as at June 30, 2025, March 31, 2026 and June 30, 2026, respectively.

^	Value is less than 0.5

 

10