| Summary of Interest Bearing Loans and Borrowings Measured at Amortized Cost/Fair Value |
This note provides information about the contractual terms of Group’s interest bearing loans and borrowings, which are measured at amortized cost. For more information about the Group’s exposure to interest rate, currency and liquidity risk, refer note 5 and 34.
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As at March 31 |
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Particulars |
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2025 |
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2026 |
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Non-current liabilities |
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Secured bank loans |
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3,118 |
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2,234 |
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Lease liabilities |
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10,777 |
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7,324 |
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Convertible notes due 2028 |
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— |
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201,199 |
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Convertible notes due 2030 |
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— |
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1,188,965 |
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Non-current portion of loans and borrowings |
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13,895 |
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1,399,722 |
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As at March 31 |
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Particulars |
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2025 |
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2026 |
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Current liabilities |
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Current portion of secured bank loans |
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1,485 |
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1,415 |
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Current portion of lease liabilities |
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4,582 |
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4,462 |
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Current portion of convertible notes due 2028 |
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216,075 |
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— |
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Current portion of loans and borrowings |
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222,142 |
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5,877 |
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| Summary of Convertible Notes |
(B) Convertible notes due 2030
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Proceeds from issue of convertible notes due 2030 |
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1,437,500 |
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Issue expenses |
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(22,952 |
) |
Net proceeds |
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1,414,548 |
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Amount classified as equity (net of allocated issue expense of USD 4,802) (refer note 26) |
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(295,939 |
) |
Interest accrued |
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|
74,401 |
|
Repurchase of convertible notes due 2030 |
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|
(4,045 |
) |
Carrying amount of liability at March 31, 2026 |
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|
1,188,965 |
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| Schedule of Terms and Conditions of Outstanding Loans, Lease Liabilities and Convertible Notes |
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As at March 31,
2025 |
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As at March 31,
2026 |
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Particulars |
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Currency |
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Interest rate |
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Year of
maturity |
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Original
value |
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Carrying
amount |
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Original
value |
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Carrying
amount |
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Secured bank loans |
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INR |
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7%-10% |
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2025 - 2030 |
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6,595 |
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4,603 |
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6,199 |
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3,649 |
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Lease liabilities |
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Multiple |
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2%-12% |
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2025 - 2029 |
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45,091 |
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15,359 |
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43,963 |
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11,786 |
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Convertible notes due 2028 |
|
USD |
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7.39% |
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2028 |
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230,000 |
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216,075 |
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230,000 |
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|
201,199 |
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Convertible notes due 2030 |
|
USD |
|
8.63% |
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2028 |
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- |
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- |
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1,432,500 |
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1,188,965 |
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| Summary of Changes in Cash Flows from Financing Activities |
Changes in cash flows from financing activities
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Liabilities |
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Secured bank loans |
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Lease liabilities |
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Convertible notes |
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Total |
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Balance as at April 1, 2023 |
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2,667 |
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16,379 |
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216,118 |
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235,164 |
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Proceeds from bank loans |
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2,114 |
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|
— |
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— |
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|
2,114 |
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Repayment of bank loans |
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(1,009 |
) |
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— |
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— |
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(1,009 |
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Acquired through business combination |
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— |
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|
115 |
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— |
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|
115 |
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Additions to lease liabilities |
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— |
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3,540 |
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— |
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|
3,540 |
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Adjustment due to modification/change in estimate |
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— |
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(26 |
) |
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(30,578 |
) |
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(30,604 |
) |
Payment of lease liabilities |
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— |
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(3,105 |
) |
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— |
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(3,105 |
) |
Interest accrued |
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|
266 |
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1,783 |
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15,700 |
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17,749 |
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Interest paid |
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(266 |
) |
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(1,783 |
) |
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— |
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(2,049 |
) |
Effect of change in foreign exchange rates |
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(46 |
) |
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(245 |
) |
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— |
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(291 |
) |
Balance as at March 31, 2024 |
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3,726 |
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16,658 |
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|
201,240 |
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221,624 |
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Proceeds from bank loans |
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2,435 |
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|
|
— |
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|
— |
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|
2,435 |
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Repayment of bank loans |
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(1,455 |
) |
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— |
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— |
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(1,455 |
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Acquired through business combination |
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— |
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|
22 |
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— |
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|
22 |
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Additions to lease liabilities |
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— |
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2,958 |
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— |
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|
2,958 |
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Adjustment due to modification/change in estimate |
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— |
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(123 |
) |
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— |
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(123 |
) |
Payment of lease liabilities |
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— |
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(3,763 |
) |
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— |
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(3,763 |
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Interest accrued |
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|
405 |
|
|
|
1,697 |
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|
14,835 |
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|
16,937 |
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Interest paid |
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(405 |
) |
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(1,697 |
) |
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— |
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(2,102 |
) |
Effect of change in foreign exchange rates |
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(103 |
) |
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(393 |
) |
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— |
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(496 |
) |
Balance as at March 31, 2025 |
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4,603 |
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15,359 |
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216,075 |
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236,037 |
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Proceeds from bank loans |
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1,201 |
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— |
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— |
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|
1,201 |
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Repayment of bank loans |
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(1,778 |
) |
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— |
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— |
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|
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(1,778 |
) |
Proceeds from issuance of convertible notes |
|
|
— |
|
|
|
— |
|
|
|
1,437,500 |
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|
1,437,500 |
|
Convertible notes classified as equity |
|
|
— |
|
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|
— |
|
|
|
(300,741 |
) |
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|
(300,741 |
) |
Direct cost incurred in relation to convertible notes (excluding equity component) |
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|
— |
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— |
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(18,150 |
) |
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(18,150 |
) |
Repurchase of convertible notes |
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|
— |
|
|
|
— |
|
|
|
(4,045 |
) |
|
|
(4,045 |
) |
Additions to lease liabilities |
|
|
— |
|
|
|
2,849 |
|
|
|
— |
|
|
|
2,849 |
|
Adjustment due to modification/change in estimate |
|
|
— |
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|
|
(613 |
) |
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(30,578 |
) |
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|
(31,191 |
) |
Payment of lease liabilities |
|
|
— |
|
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(4,688 |
) |
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— |
|
|
|
(4,688 |
) |
Interest accrued |
|
|
300 |
|
|
|
1,454 |
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|
90,103 |
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|
91,857 |
|
Interest paid |
|
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(300 |
) |
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(1,454 |
) |
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— |
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|
|
(1,754 |
) |
Effect of change in foreign exchange rates |
|
|
(377 |
) |
|
|
(1,121 |
) |
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— |
|
|
|
(1,498 |
) |
Balance as at March 31, 2026 |
|
|
3,649 |
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|
11,786 |
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1,390,164 |
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1,405,599 |
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