MYNTRA DESIGNS PRIVATE LIMITED

Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

[700300] Disclosure of general information about company

Unless otherwise specified, all monetary values are in Millions of INR
01/04/2024 01/04/2023
to to
31/03/2025 31/03/2024
MYNTRA DESIGNS PRIVATE
Name of company LIMITED
Corporate identity number U72300KA2007PTC041799
Permanent account number of entity AAECM9636P
BUILDINGS ALYSSA ,
BEGONIA & CLOVER, EMBESSY
TECH VILLAGE, OUTER RING
Address of registered office of company ROAD, DEVARABEESANHALLI
VILLAGE Bangalore KA
560103 IN
Commercial and
Type of industry Industrial
Date of start of reporting period 01/04/2024 01/04/2023
Date of end of reporting period 31/03/2025 31/03/2024
Nature of report standalone consolidated Consolidated
Content of report Financial Statements
Description of presentation currency INR
Level of rounding used in financial statements Millions
Type of cash flow statement Indirect Method

[700400] Disclosures - Auditors report

Details regarding auditors [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Auditors [Axis] 1
01/04/2024
to
31/03/2025
Details regarding auditors [Abstract]
Details regarding auditors [LineItems]
Category of auditor Auditors firm
S. R. Batliboi and
Name of audit firm Associates LLP
Name of auditor signing report Rakesh Agarwal
Firms registration number of audit firm 101049W/E300004
Membership number of auditor 066096
12th Floor,
Canberra Block, UB
Address of auditors City, No.24, Vittal
Mallya Road,
Bangalore - 560001
Permanent account number of auditor or auditor's firm XX-XX-XX-118A
SRN of form ADT-1 N01044387
Date of signing audit report by auditors 30/06/2025
Date of signing of balance sheet by auditors 30/06/2025

Unless otherwise specified, all monetary values are in Millions of INR

01/04/2024
to
31/03/2025
Textual information (1)
Disclosure in auditor’s report explanatory [TextBlock] [See below]
Whether companies auditors report order is applicable on company (A) No
Whether auditors' report has been qualified or has any reservations or
contains adverse remarks (B) No
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Footnotes
(A)
• As required by the Companies (Auditor’s Report) Order, 2020 (the “Order”), issued by the Central Government of India in terms
of Sub-section (11) of Section 143 of the Act, based on our audit of Holding Company and an Associate Company and on the
consideration of report of the other auditors on separate Ind-AS Financial Statements and the other financial information of the
Subsidiary incorporated in India, as noted in the ‘Other Matter’ paragraph we give in the “Annexure 1” a statement on the matters
specified in paragraph 3(xxi) of the Order.

ANNEXURE 1 REFERRED TO IN PARAGRAPH UNDER THE HEADING “REPORT ON OTHER LEGAL AND
REGULATORY REQUIREMENTS” OF OUR REPORT OF EVEN DATE

Re: Myntra Designs Private Limited (the “Holding Company”)

With respect to the matters specified in clause (xxi) of paragraph 3 and paragraph 4 of the Companies (Auditor’s Report) Order,
2020 (the “Order”) issued by the Central Government in terms of Section 143(11) of the Act, according to the information and
explanations given to us and based on the Order issued by us and the auditor of Subsidiary Company included in the Consolidated
Ind-AS Financial Statements, we report that:

There are no qualification(s) or adverse remark(s) by the respective auditors in their report on Companies (Auditors Report) Order,
2020 of the companies included in the Consolidated Ind-AS Financial Statements except for following where the respective auditor
have reported qualifications or adverse remarks in their Auditor’s Report to the principal auditor.

Holding Company/
Clause number of the
subsidiary/
[Link] Name CIN CARO report which is
associate/ joint
qualified or is adverse
venture

Clause (ii)(b)

Wrogn Private Limited (Formerly Clause (iii)(a)

1 Universal Sportsbiz Private U92412KA2012PTC103560 Associate
Limited) Clause (vii)(b)

Clause (xvii)

Based on the report issued by the auditor of the following Subsidiary as provided in the Other Matter paragraph above, reporting
under Companies (Auditors Report) Order, 2020 is not applicable to the Subsidiary:

Name CIN Relationship

XS Brands Consultancy Private Limited U74140MH2010PTC211499 Subsidiary

(B)

No Qualification / Adverse remarks have been reported by the auditor in the Consolidated Audited Report except for the following:

ANNEXURE 1 REFERRED TO IN PARAGRAPH UNDER THE HEADING “REPORT ON OTHER LEGAL AND
REGULATORY REQUIREMENTS” OF OUR REPORT OF EVEN DATE

Re: Myntra Designs Private Limited (the “Holding Company”)

2
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

With respect to the matters specified in clause (xxi) of paragraph 3 and paragraph 4 of the Companies (Auditor’s Report) Order,
2020 (the “Order”) issued by the Central Government in terms of Section 143(11) of the Act, according to the information and
explanations given to us and based on the Order issued by us and the auditor of Subsidiary Company included in the Consolidated
Ind-AS Financial Statements, we report that:

There are no qualification(s) or adverse remark(s) by the respective auditors in their report on Companies (Auditors Report) Order,
2020 of the companies included in the Consolidated Ind-AS Financial Statements except for following where the respective auditor
have reported qualifications or adverse remarks in their Auditor’s Report to the principal auditor.

Holding Company/
Clause number of the
subsidiary/
[Link] Name CIN CARO report which is
associate/ joint
qualified or is adverse
venture

Clause (ii)(b)

Clause (iii)(a)
Wrogn Private Limited (Formerly
1 Universal Sportsbiz Private U92412KA2012PTC103560 Associate
Clause (vii)(b)
Limited)
Clause (xvii)

3
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Textual information (1)

Disclosure in auditor’s report explanatory [Text Block]

INDEPENDENT AUDITOR’S REPORT

To the Members of Myntra Designs Private Limited

Report on the Audit of the Consolidated Ind-AS Financial Statements

Opinion

We have audited the accompanying Consolidated Ind-AS Financial Statements of Myntra Designs Private Limited (hereinafter referred to as
the “Holding Company”), its subsidiary (the Holding Company and its subsidiary together referred to as the “Group”) and its associates
comprising of the Consolidated Balance Sheet as at March 31 2025, the Consolidated Statement of Profit and Loss including the
Consolidated Statement of Other Comprehensive Income, the Consolidated Cash Flow Statement and the Consolidated Statement of Changes
in Equity for the year then ended, and notes to these Consolidated Ind-AS Financial Statements, including a Summary of significant
accounting policies and other explanatory information (hereinafter referred to as the “Consolidated Ind-AS Financial Statements”).

In our opinion and to the best of our information and according to the explanations given to us and based on the consideration of Report of
the other auditor on separate Ind-AS Financial Statements and on the other financial information of the subsidiary, the aforesaid Consolidated
Ind-AS Financial Statements give the information required by the Companies Act, 2013, as amended (the “Act”) in the manner so required
and give a true and fair view in conformity with the accounting principles generally accepted in India, of the consolidated state of affairs of
the Group and its associates as at March 31, 2025, their consolidated profit including consolidated other comprehensive income, their
consolidated cash flows and the consolidated changes in equity for the year ended on that date.

Basis for Opinion

We conducted our audit of these Consolidated Ind-AS Financial Statements in accordance with the Standards on Auditing (SAs), as specified
under Section 143(10) of the Act. Our responsibilities under these Standards are further described in the ‘Auditor’s Responsibilities for the
Audit of these Consolidated Ind-AS Financial Statements’ section of our report. We are independent of the Group and associates in
accordance with the ‘Code of Ethics’ issued by the Institute of Chartered Accountants of India(“ICAI”) together with the ethical
requirements that are relevant to our audit of these Consolidated Ind-AS Financial Statements under the provisions of the Act and the Rules
thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe
that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on these Consolidated Ind-AS
Financial Statements.

Information Other than these Consolidated Ind-AS Financial Statements and Auditor’s Report Thereon

4
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

The Holding Company’s Board of Directors is responsible for the other information. The other information comprises the information
included in the Director’s Report but does not include these Consolidated Ind-AS Financial Statements and our Auditor’s Report thereon.

Our opinion on these Consolidated Ind-AS Financial Statements does not cover the other information and we do not express any form of
assurance conclusion thereon.

In connection with our audit of these Consolidated Ind-AS Financial Statements, our responsibility is to read the other information and, in
doing so, consider whether such other information is materially inconsistent with these Consolidated Ind-AS Financial Statements, or our
knowledge obtained in the audit or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that
there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Responsibilities of Management for these Consolidated Ind-AS Financial Statements

The Holding Company’s Board of Directors is responsible for the preparation and presentation of these Consolidated Ind-AS Financial
Statements in terms of the requirements of the Act that give a true and fair view of the consolidated financial position, consolidated financial
performance including other comprehensive income, consolidated cash flows and consolidated statement of changes in equity of the Group
including its associates in accordance with the accounting principles generally accepted in India, including the Indian Accounting Standards
(Ind-AS) specified under Section 133 of the Act read with the Companies (Indian Accounting Standards) Rules, 2015 as amended.

The respective Board of Directors of the companies included in the Group and of its associates are responsible for maintenance of adequate
accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Holding Company, its subsidiary and
associates for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making
judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial
controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation
and presentation of these Consolidated Ind-AS Financial Statements that give a true and fair view and are free from material misstatement,
whether due to fraud or error, which have been used for the purpose of preparation of these Consolidated Ind-AS Financial Statements by the
Board of Directors of the Holding Company, as aforesaid.

In preparing these Consolidated Ind-AS Financial Statements, the respective Board of Directors of the Companies included in the Group and
of its associates are responsible for assessing the ability of the Holding Company, its subsidiary and associates to continue as a going
concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management
either intends to liquidate the Group or to cease operations, or has no realistic alternative but to do so.

Those respective Board of Directors of the Holding Company, its subsidiary and associates are also responsible for overseeing the financial
reporting process of the Holding Company, its subsidiary and associates.

Auditor’s Responsibilities for the Audit of these Consolidated Ind-AS Financial Statements

5
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Our objectives are to obtain reasonable assurance about whether these Consolidated Ind-AS Financial Statements as a whole are free from
material misstatement, whether due to fraud or error, and to issue an Auditor’s Report that includes our opinion. Reasonable assurance is a
high level of assurance but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement
when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could
reasonably be expected to influence the economic decisions of users taken on the basis of these Consolidated Ind-AS Financial Statements.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit.
We also:

• Identify and assess the risks of material misstatement of these Consolidated Ind-AS Financial Statements, whether due to fraud or error,
design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis
for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud
may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

• Obtain an understanding of internal controls relevant to the audit in order to design audit procedures that are appropriate in the
circumstances. Under Section 143(3)(i) of the Act, we are also responsible for expressing our opinion on whether the Holding Company has
adequate internal financial controls with reference to Consolidated Ind-AS Financial Statements in place and the operating effectiveness of
such controls.

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by
management.

• Conclude on the appropriateness of management’s use of the going concern basis of accounting and, based on the audit evidence
obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the ability of the Group and
its associates to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our
Auditor’s Report to the related disclosures in these Consolidated Ind-AS Financial Statements or, if such disclosures are inadequate, to
modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our Auditor’s Report. However, future events
or conditions may cause the Group and its associates to cease to continue as a going concern.

• Evaluate the overall presentation, structure and content of these Consolidated Ind-AS Financial Statements, including the disclosures, and
whether these Consolidated Ind-AS Financial Statements represent the underlying transactions and events in a manner that achieves fair
presentation.

• Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Group and
its associates of which we are the independent auditors and whose financial information we have audited, to express an opinion on the
Consolidated Ind-AS Financial Statements. We are responsible for the direction, supervision, and performance of the audit of the Ind-AS
Financial Statements of such entities included in the Consolidated Ind-AS Financial Statements of which we are the independent auditors.
For the other entity included in the Consolidated Ind-AS Financial Statements, which has been audited by other auditor, such other auditor
remains responsible for the direction, supervision and performance of the audit carried out by them. We remain solely responsible for our
audit opinion.

We communicate with those charged with governance of the Holding Company and such other entities included in the Consolidated Ind-AS
Financial Statements of which we are the independent Auditors regarding, among Other Matters, the planned scope and timing of the audit
and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

6
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding
independence, and to communicate with them all relationships and Other Matters that may reasonably be thought to bear on our
independence, and where applicable, related safeguards.

Other Matter

• We did not audit the Ind-AS Financial Statements and other financial information, in respect of one subsidiary whose Ind-AS Financial
Statements include total assets of Rs. 2.5 million (“Mn”) (as referred in Note 35 to the Consolidated Ind-AS Financial Statements) as at
March 31, 2025, and total revenues of Rs. Nil and net cash outflow of Rs. 0.8 Mn for the year ended on that date. These Ind-AS Financial
Statement and other financial information have been audited by other Auditor, whose Ind-AS Financial Statements, other financial
information and auditor’s reports have been furnished to us by the management. Our opinion on these Consolidated Ind-AS Financial
Statements, in so far as it relates to the amounts and disclosures included in respect of the subsidiary and our Report in terms of sub-Sections
(3) of Section 143 of the Act, in so far as it relates to the aforesaid subsidiary is based solely on the report of such other Auditors.
• The Consolidated Ind-AS Financial Statements include the Group’s share of net profit of Rs. Nil for the year ended March 31, 2025, as
considered in these Consolidated Ind-AS Financial Statements, in respect of one associate, whose Financial Statements, other financial
information have not been audited and whose unaudited Financial Statements, other unaudited financial information have been furnished to
us by the Management. Our opinion, in so far as it relates amounts and disclosures included in respect of this associate, and our report in
terms of sub-sections (3) of Section 143 of the Act in so far as it relates to the aforesaid associate, is based solely on such unaudited Ind-AS
Financial Statements and other unaudited financial information. In our opinion and according to the information and explanations given to us
by the Management, these Ind-AS Financial Statements and other financial information are not material to the Group.

Our opinion above on these Consolidated Ind-AS Financial Statements, and our report on Other Legal and Regulatory Requirements below,
is not modified in respect of the above matters with respect to our reliance on the work done and the report of the other Auditor and the
Financial Statements and other financial information certified by the Management.

Report on Other Legal and Regulatory Requirements

• As required by the Companies (Auditor’s Report) Order, 2020 (the “Order”), issued by the Central Government of India in terms of
Sub-section (11) of Section 143 of the Act, based on our audit Holding Company and an Associate Company and on the consideration of
report of the other auditors on separate Ind-AS Financial Statements and the other financial information of the Subsidiary incorporated in
India, as noted in the ‘Other Matter’ paragraph we give in the “Annexure 1” a statement on the matters specified in paragraph 3(xxi) of the
Order.

• As required by Section 143(3) of the Act, based on our audit and on the consideration of report of the other auditors on separate Ind-AS
Financial Statements and the other financial information of subsidiary as noted in the ‘Other Matter’ paragraph we report, to the extent
applicable, that:

• We / the other Auditor whose report we have relied upon have sought and obtained all the information and explanations which to the best
of our knowledge and belief were necessary for the purposes of our audit of the aforesaid Consolidated Ind-AS Financial Statements;

• In our opinion, proper books of account as required by law relating to preparation of the aforesaid consolidation of the Ind-AS Financial
Statements have been kept so far as it appears from our examination of those books and reports of the other auditor, except that (i) for the
Holding Company and subsidiary we are unable to comment whether daily backups were taken due to absence of logs, certain ancillary
applications that are hosted on servers located outside India; (ii) for Associate incorporated in India in case of one software the back-up of
books of account and other books and papers maintained in electronic mode was not kept in server physically located in India on a daily
basis, and that for another software was not kept in server physically located in India on a daily basis from April 1 2024 to September 30
2024 (refer Note 38 to Consolidated Ind-AS Financial Statements) and for the matters stated in the paragraph 2(i)(vi) below on reporting
under Rule 11(g);

7
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

• The Consolidated Balance Sheet, the Consolidated Statement of Profit and Loss including the Consolidated Statement of Other
Comprehensive Income, the Consolidated Cash Flow Statement and the Consolidated Statement of Changes in Equity dealt with by this
Report are in agreement with the books of account maintained for the purpose of preparation of these Consolidated Ind-AS Financial
Statements.

• In our opinion, the aforesaid Consolidated Ind-AS Financial Statements comply with the Accounting Standards specified under Section
133 of the Act, read with Companies (Indian Accounting Standards) Rules, 2015, as amended from time to time;

• On the basis of the written representations received from the directors of the Holding Company as on March 31, 2025 taken on record by
the Board of Directors of the Holding Company and the reports of the Statutory Auditors who are appointed under Section 139 of the Act, of
its Subsidiary and associate companies, none of the directors of the Group’s companies is disqualified as on March 31, 2025 from being
appointed as a director in terms of Section 164 (2) of the Act;

• The observations relating to the maintenance of accounts and Other Matters connected there with, are as stated in paragraph (2) (b) above
and paragraph (2) (i) (vi) below.

• With respect to the adequacy and the operating effectiveness of the internal financial controls with reference to these Consolidated
Ind-AS Financial Statements of the Holding Company and Associate, based on our audit and on the consideration of report of the other
auditors on separate Ind-AS Financial Statements and the other financial information of such subsidiary company, incorporated in India and
to the extent applicable, as noted in the ‘Other Matter’ paragraph, refer to our separate report in “Annexure 2” to this report. This report,
however, does not include a report on the internal financial controls under clause (i) of Sub-section 3 of Section 143 of the Act (the ‘Report
on internal financial controls’) in respect of Subsidiary, since based on the corresponding report of other auditor as noted in the ‘Other
Matter’ paragraph and according to the information and explanation given to us, the said report on internal financial controls is not applicable
to the said Subsidiary basis the exemption available to the said Subsidiary under MCA notification no. G.S.R. 583(E) dated June 13, 2017,
read with corrigendum dated July 13, 2017 on reporting on internal financial controls with reference to Consolidated Ind-AS Financial
Statements;

• The provisions of Section 197 read with Schedule V of the Act are not applicable to the Holding Company, its subsidiary and associate
incorporated in India for the year ended March 31, 2025;

• With respect to the Other Matters to be included in the Auditor’s Report in accordance with Rule 11 of the Companies (Audit and
Auditors) Rules, 2014, as amended, in our opinion and to the best of our information and according to the explanations given to us and based
on the consideration of the report of the other Auditor on separate Ind-AS Financial Statements as also the other financial information of the
Subsidiary, as noted in the ‘Other Matter’ paragraph:

• These Consolidated Ind-AS Financial Statements disclose the impact of pending litigations. Refer Note 23 of these Consolidated Ind-AS
Financial Statements;

• The Group and its associates did not have any material foreseeable losses in long-term contracts including derivative contracts during the
year ended March 31, 2025; and

• There were no amounts which were required to be transferred to the Investor Education and Protection Fund by the Group and its
associate incorporated in India during the year ended March 31, 2025.

8
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

(iv) a) The respective managements of the Holding Company and associate which are companies incorporated in India whose Ind-AS
Financial Statements have been audited under the Act have represented to us and based on the report and audited Ind-AS Financial
Statements of the other auditor of such Subsidiary that, to the best of its knowledge and belief, as disclosed in the Note 36(v) to the
Consolidated Ind-AS Financial Statements, no funds have been advanced or loaned or invested (either from borrowed funds or share
premium or any other sources or kind of funds) by the Holding Company or any of such subsidiary to or in any other person(s) or entity(ies),
including foreign entities (“Intermediaries”), with the understanding, whether recorded in writing or otherwise, that the Intermediary shall,
whether, directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the respective
Holding Company or any of such subsidiary (“Ultimate Beneficiaries”) or provide any guarantee, security or the like on behalf of the
Ultimate Beneficiaries;

b) The respective managements of the Holding Company and associate which are companies incorporated in India whose Ind-AS
Financial Statements have been audited under the Act have represented to us and based on the report and audited Ind-AS Financial
Statements of the other auditor of such Subsidiary that, to the best of its knowledge and belief, as disclosed in the Note 36(vi) to the
Consolidated Ind-AS Financial Statements, no funds have been received by the respective Holding Company or any of such subsidiary from
any person(s) or entity(ies), including foreign entities (“Funding Parties”), with the understanding, whether recorded in writing or otherwise,
that the Holding Company or any of such subsidiary shall, whether, directly or indirectly, lend or invest in other persons or entities identified
in any manner whatsoever by or on behalf of the Funding Party (“Ultimate Beneficiaries”) or provide any guarantee, security or the like on
behalf of the Ultimate Beneficiaries; and

c) Based on such audit procedures performed that have been considered reasonable and appropriate in the circumstances performed by
us and that performed by the Auditor of the subsidiary, which are companies incorporated in India whose Financial Statements have been
audited under the Act, nothing has come to our or other Auditor’s notice that has caused us or the other auditor to believe that the
representations under sub-clause (a) and (b) contain any material misstatement.

• No dividend has been declared or paid during the year by the Holding Company, its subsidiary and associate companies incorporated in
India.

• Based on our examination which included test checks and based on the other Auditor’s Reports of Subsidiary whose Financial
Statements have been audited under the Act, as explained in the Note 37 to Consolidated Ind-AS Financial Statements;

• The Holding Company and Subsidiary has used certain accounting softwares for maintaining its books of account which did not have a
feature of recording audit trail (edit log) facility and;

• In case of Associate incorporated in India, for two accounting softwares audit trail feature is not enabled for changes made using
privileged/ administrative access rights if any, and for one software which was used for maintaining its payroll records has a feature of
recording audit trail (edit log) facility however the same was not enabled throughout the year.

• The Holding Company and its associate has also used certain other accounting softwares which are operated by third-party software
service providers, for maintaining its books of account and for such applications, the System and Organization Control (SOC) reports do not
include information related to audit trail, accordingly, we are unable to comment whether the audit trail feature of the said softwares was
enabled and operated throughout the year for all relevant transactions recorded in the software. Further, we are unable to comment upon
whether during the year there was any instance of audit trail feature being tampered with in respect of these accounting software,
Additionally we are unable to comment on whether audit trail as per applicable requirements has been preserved by the Holding Company as
per the statutory requirements for record retention in respect of years ended March 31, 2025 and March 31, 2024.

For S.R. Batliboi & Associates LLP

9
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Chartered Accountants

ICAI Firm Registration Number: 101049W/E300004

______________________________

per Rakesh Agarwal

Partner

Membership Number: 066096

Unique Document Identification Number: 25066096BMNZZV9555

Place of Signature: Bengaluru

Date: June 30, 2025

ANNEXURE 1 REFERRED TO IN PARAGRAPH UNDER THE HEADING “REPORT ON OTHER LEGAL AND REGULATORY
REQUIREMENTS” OF OUR REPORT OF EVEN DATE

Re: Myntra Designs Private Limited (the “Holding Company”)

With respect to the matters specified in clause (xxi) of paragraph 3 and paragraph 4 of the Companies (Auditor’s Report) Order, 2020 (the
“Order”) issued by the Central Government in terms of Section 143(11) of the Act, according to the information and explanations given to us
and based on the Order issued by us and the auditor of Subsidiary Company included in the Consolidated Ind-AS Financial Statements, we
report that:

There are no qualification(s) or adverse remark(s) by the respective auditors in their report on Companies (Auditors Report) Order, 2020 of
the companies included in the Consolidated Ind-AS Financial Statements except for following where the respective auditor have reported
qualifications or adverse remarks in their Auditor’s Report to the principal auditor.

Holding Company/ Clause number of the

[Link] Name CIN subsidiary/ associate/ CARO report which is
joint venture qualified or is adverse

Clause (ii)(b)

Clause (iii)(a)
Wrogn Private Limited (Formerly
1 U92412KA2012PTC103560 Associate
Universal Sportsbiz Private Limited)
Clause (vii)(b)

Clause (xvii)

Based on the report issued by the auditor of the following Subsidiary as provided in the Other Matter paragraph above, reporting under
Companies (Auditors Report) Order, 2020 is not applicable to the Subsidiary:

10
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Name CIN Relationship

XS Brands Consultancy Private Limited U74140MH2010PTC211499 Subsidiary

For S.R. Batliboi & Associates LLP

Chartered Accountants

ICAI Firm Registration Number: 101049W/E300004

______________________________

per Rakesh Agarwal

Partner

Membership Number: 066096

Unique Document Identification Number: 25066096BMNZZV9555

Place of Signature: Bengaluru

Date: June 30, 2025

ANNEXURE 2

To the Independent Auditor’s Report of even date on these Consolidated Ind-AS Financial Statements of Myntra Designs Private Limited

11
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section 143 of the Companies Act, 2013 (the “Act”)

We have audited the internal financial controls with reference to Consolidated Ind-AS Financial Statements of Myntra Designs Private
Limited (hereinafter referred to as the “Holding Company”) and its Associate which are incorporated in India as of March 31, 2025 in
conjunction with our audit of the Consolidated Ind-AS Financial Statements of the Holding Company for the year ended on that date.

This report, however, does not include a report on the internal financial controls under clause (i) of Sub-section 3 of Section 143 of the Act
(the ‘Report on internal financial controls’) in respect of Subsidiary “XS Brands Consultancy Private Limited”, since based on the
corresponding report of other auditor as noted in the ‘Other Matter’ paragraph and according to the information and explanation given to us,
the said report on internal financial controls is not applicable to the said Subsidiary basis the exemption available to the said Subsidiary under
MCA notification no. G.S.R. 583(E) dated June 13, 2017, read with corrigendum dated July 13, 2017 on reporting on internal financial
controls with reference to Consolidated Ind-AS Financial Statements.

Management’s Responsibility for Internal Financial Controls

The Holding Company’s Management is responsible for establishing and maintaining internal financial controls based on the internal control
over financial reporting criteria established by the Holding Company considering the essential components of internal control stated in the
Guidance Note on Audit of Internal financial controls Over Financial Reporting issued by the Institute of Chartered Accountants of India
(“ICAI”). These responsibilities include the design, implementation and maintenance of adequate internal financial controls that were
operating effectively for ensuring the orderly and efficient conduct of its business, including adherence to the Holding Company’s policies,
the safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and
the timely preparation of reliable financial information, as required under the Act.

Auditor’s Responsibility

Our responsibility is to express an opinion on the Holding Company's internal financial controls with reference to these Consolidated Ind-AS
Financial Statements based on our audit. We conducted our audit in accordance with the Guidance Note on Audit of Internal financial
controls Over Financial Reporting (the “Guidance Note”) and the Standards on Auditing, as specified under Section 143(10) of the Act, to
the extent applicable to an audit of internal financial controls, both issued by ICAI. Those Standards and the Guidance Note require that we
comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether adequate internal financial
controls with reference to these Consolidated Ind-AS Financial Statements was established and maintained and if such controls operated
effectively in all material respects.

Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal financial controls with reference to
these Consolidated Ind-AS Financial Statements and their operating effectiveness. Our audit of internal financial controls with reference to
these Consolidated Ind-AS Financial Statements included obtaining an understanding of internal financial controls with reference to these
Consolidated Ind-AS Financial Statements, assessing the risk that a material weakness exists, and testing and evaluating the design and
operating effectiveness of internal control based on the assessed risk. The procedures selected depend on the auditor’s judgement, including
the assessment of the risks of material misstatement of these Consolidated Ind-AS Financial Statements, whether due to fraud or error.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the Holding
Company’s internal financial controls with reference to these Consolidated Ind-AS Financial Statements.

12
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Meaning of Internal Financial Controls with reference to these Consolidated Ind-AS Financial Statements

A Company's internal financial controls with reference to Consolidated Ind-AS Financial Statements is a process designed to provide
reasonable assurance regarding the reliability of financial reporting and the preparation of Consolidated Ind-AS Financial Statements for
external purposes in accordance with generally accepted accounting principles. A company's internal financial controls with reference to
Consolidated Ind-AS Financial Statements includes those policies and procedures that (1) pertain to the maintenance of records that, in
reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the Holding Company; (2) provide reasonable
assurance that transactions are recorded as necessary to permit preparation of these Consolidated Ind-AS Financial Statements in accordance
with generally accepted accounting principles, and that receipts and expenditures of the Holding Company are being made only in
accordance with authorisations of management and directors of the Holding Company; and (3) provide reasonable assurance regarding
prevention or timely detection of unauthorised acquisition, use, or disposition of the Holding Company's assets that could have a material
effect on the Consolidated Ind-AS Financial Statements.

Inherent Limitations of Internal Financial Controls with reference to these Consolidated Ind-AS Financial Statements

Because of the inherent limitations of internal financial controls with reference to these Consolidated Ind-AS Financial Statements, including
the possibility of collusion or improper management override of controls, material misstatements due to error or fraud may occur and not be
detected. Also, projections of any evaluation of the internal financial controls with reference to these Consolidated Ind-AS Financial
Statements to future periods are subject to the risk that the internal financial controls with reference to these Consolidated Ind-AS Financial
Statements may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may
deteriorate.

Opinion

In our opinion, the Holding Company and its Associate have, in all material respects, adequate internal financial controls with reference to
these Consolidated Ind-AS Financial Statements and such internal financial controls with reference to these Consolidated Ind-AS Financial
Statements were operating effectively as at March 31, 2025, based on the internal control over financial reporting criteria established by the
respective Holding Company and its Associate, considering the essential components of internal control stated in the Guidance Note issued
by the ICAI.

For S.R. Batliboi & Associates LLP

Chartered Accountants

ICAI Firm Registration Number: 101049W/E300004

13
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

______________________________

per Rakesh Agarwal

Partner

Membership Number: 066096

Unique Document Identification Number: 25066096BMNZZV9555

Place of Signature: Bengaluru

Date: June 30, 2025

14
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

[110000] Balance sheet

Unless otherwise specified, all monetary values are in Millions of INR
31/03/2025 31/03/2024 31/03/2023
Balance sheet [Abstract]
Assets [Abstract]
Non-current assets [Abstract]
Property, plant and equipment (A) 255 (B) 287
509

Capital work-in-progress (C) 4 0

Goodwill 768 768 768
Other intangible assets 420 427 434
Non-current financial assets [Abstract]
Non-current investments (D) 85 (E) 110
Loans, non-current 0 0
Other non-current financial assets 731 638
Total non-current financial assets 816 748
Deferred tax assets (net) 1,254 0

Other non-current assets (F) 1,331 (G) 2,098

Total non-current assets 4,848 4,328
Current assets [Abstract]
Inventories 0 0
Current financial assets [Abstract]
Current investments 0 0
Trade receivables, current 4,191 3,780
Cash and cash equivalents 228 377
Loans, current 0 0
Other current financial assets 42,591 38,224
Total current financial assets 47,010 42,381
Other current assets 614 661
Total current assets 47,624 43,042
Total assets 52,472 47,370
Equity and liabilities [Abstract]
Equity [Abstract]
Equity attributable to owners of parent [Abstract]
Equity share capital 66 66 64
Other equity 14,984 9,522
Total equity attributable to owners of parent 15,050 9,588
Non controlling interest 174 175
Total equity 15,224 9,763
Liabilities [Abstract]
Non-current liabilities [Abstract]
Non-current financial liabilities [Abstract]
Borrowings, non-current 0 0

Other non-current financial liabilities (H) 16 (I) 23

Total non-current financial liabilities 16 23
Provisions, non-current 123 115
Deferred tax liabilities (net) 0 121
Total non-current liabilities 139 259
Current liabilities [Abstract]
Current financial liabilities [Abstract]
Borrowings, current 10,792 10,704

Trade payables, current (J) 10,282 (K) 11,251

Other current financial liabilities (L) 14,562 (M) 13,573
Total current financial liabilities 35,636 35,528

Other current liabilities (N) 1,376 (O) 1,738

Provisions, current 97 82
Total current liabilities 37,109 37,348
Total liabilities 37,248 37,607
Total equity and liabilities 52,472 47,370

15
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Footnotes
(A)

Property, plant and equipment (167) + Right of use asset (88)

(B)

Property, plant and equipment (195) + Right of use asset (92)

(C)
3(iii). Capital work in progress

Particulars Amount
At March 31, 2024 -
Additions 4
Disposals -
At March 31, 2025 4

Capital work in progress (CWIP)

Ageing Schedule

Amount in CWIP for a

At March 31, 2025 Total
period of
Less than 1 More than 3
1-2 years 2-3 years
year years
Projects in progress 4 - - - 4

Projects temporarily suspended -

- - - -

Amount in CWIP for a

At March 31, 2024 Total
period of
Less than 1 More than 3
1-2 years 2-3 years
year years

Projects in progress - - - -
-

Projects temporarily suspended -

- - - -

There are no CWIP projects whose completion is overdue or exceeded the original approved plan.

(D)

Investment accounted for using equity method (85)

(E)

Investment accounted for using equity method (110)

(F)

Non-current tax assets (1224) + Other non-current assets (107)

(G)

Non-current tax assets (2074) + Other non-current assets (24)

(H)

Lease liabilities (16)

(I)

Lease liabilities (23)

16
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

(J)
11. Trade payables
As at
March 31, 2025
Total outstanding dues of micro enterprises and small enterprises 503
Total outstanding dues of creditors other than micro enterprises and small enterprises* 9,779
Total 10,282

* Includes Rs. 3,332 due to related parties (refer note 22). Trade payables are unsecured, non-interest bearing, payable as per the
credit terms agreed with the vendors and are to be settled in cash.

Outstanding for
Trade payables ageing schedule following periods from
due date of payment
Less More
1-2 2-3
Accrued Expenses Not due than 1 than 3 Total
years years
year years

As at March 31, 2025

Total outstanding dues of micro

404
enterprises and small enterprises 87 11 0 0 1 503
Total outstanding dues of
creditors other than micro 5,816
3,332 612 1 0 18 9,779
enterprises and small enterprises
Disputed dues of micro
-
enterprises and small enterprises - - - - - -
Disputed dues of creditors other
than micro enterprises and small -
- - - - - -
enterprises

Total 6,220
3,419 623 1 0 19 10,282

Outstanding dues to micro and small enterprises

As at
March
31,
2025
(i) The principal amount and the interest due thereon remaining unpaid to any supplier as at the end of each
accounting year

[A] Principal
99

[B] Interest on above

4
(ii) The amount of interest paid by the buyer in terms of Section 16 of the Micro, Small and Medium
Enterprises Development Act, 2006, (the Act). -

(iii) The amount of the payment made to the supplier beyond the appointed day during each accounting year
1,221
(iv) The amount of interest due and payable for the period of delay in making payment (which have been
paid but beyond the appointed day during the year) but without adding the interest specified under the said
24
Act.

(v) The amount of interest accrued and remaining unpaid at the end of each year
43
(vi) The amount of further interest remaining due and payable even in the succeeding years, until such date
when the interest dues as above are actually paid to the small enterprise. 19

(K)
11. Trade payables
As at
March 31, 2024

17
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Total outstanding dues of micro enterprises and small enterprises 391

Total outstanding dues of creditors other than micro enterprises and small enterprises* 10,860
Total 11,251

* Includes Rs. 4,593 due to related parties (refer note 22). Trade payables are unsecured, non-interest bearing, payable as per the
credit terms agreed with the vendors and are to be settled in cash.

Less More
Accrued 1-2 2-3
Not due than 1 than 3 Total
Expenses years years
year years
As at March 31, 2024

Total outstanding dues of micro enterprises and

small enterprises 296 66 24 1 3 1 391
Total outstanding dues of creditors other than
micro enterprises and small enterprises 5,363 3,167 2,221 88 10 11 10,860
Disputed dues of micro enterprises and small
enterprises - - - - - -
Disputed dues of creditors other than micro
enterprises and small enterprises - - - - - -

Total
5,659 3,233 2,245 89 13 12 11,251

The amount due to Micro and Medium Enterprises

("MSME") as defined in the “The Micro, Small and
Medium Enterprises Development Act, 2006” has
been determined to the extent such parties have
been identified on the basis of information
available with the Group.

Outstanding dues to micro and small enterprises

As at
March
31,
2024
(i) The principal amount and the interest due thereon remaining unpaid to any supplier as at the end of each
accounting year

[A] Principal
95

[B] Interest on above

3
(ii) The amount of interest paid by the buyer in terms of Section 16 of the Micro, Small and Medium
Enterprises Development Act, 2006, (the Act). -

(iii) The amount of the payment made to the supplier beyond the appointed day during each accounting year
845
(iv) The amount of interest due and payable for the period of delay in making payment (which have been
paid but beyond the appointed day during the year) but without adding the interest specified under the said
14
Act.

(v) The amount of interest accrued and remaining unpaid at the end of each year
19
(vi) The amount of further interest remaining due and payable even in the succeeding years, until such date
when the interest dues as above are actually paid to the small enterprise. 17

(L)

Lease liabilities (74) + Other financial liabilities (14,488)

(M)

Lease liabilities (78) + Other financial liabilities (13,495)

(N)

18
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Other current liabilities (860) + Contract liabilities (200)+Refund liabilities (316)

(O)

Other current liabilities (1134) + Contract liabilities (225)+Refund liabilities (379)

[210000] Statement of profit and loss

Earnings per share [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Classes of equity share capital [Axis] Equity shares [Member] Equity shares 1 [Member]
01/04/2024 01/04/2023 01/04/2024 01/04/2023
to to to to
31/03/2025 31/03/2024 31/03/2025 31/03/2024
Statement of profit and loss [Abstract]
Earnings per share [Abstract]
Earnings per share [Line items]
Basic earnings per share [Abstract]
Basic earnings (loss) per share from
[INR/shares] 83 [INR/shares] 5 [INR/shares] 83 [INR/shares] 5
continuing operations
Total basic earnings (loss) per share [INR/shares] 83 [INR/shares] 5 [INR/shares] 83 [INR/shares] 5
Diluted earnings per share [Abstract]
Diluted earnings (loss) per share from
[INR/shares] 55 [INR/shares] 3 [INR/shares] 55 [INR/shares] 3
continuing operations
Total diluted earnings (loss) per share [INR/shares] 55 [INR/shares] 3 [INR/shares] 55 [INR/shares] 3

19
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Unless otherwise specified, all monetary values are in Millions of INR

01/04/2024 01/04/2023
to to
31/03/2025 31/03/2024
Statement of profit and loss [Abstract]
Income [Abstract]
Revenue from operations 60,427 51,218
Other income 943 519
Total income 61,370 51,737
Expenses [Abstract]
Cost of materials consumed (A) 21,394 (B) 19,964
Changes in inventories of finished goods, work-in-progress and
0 0
stock-in-trade
Employee benefit expense 7,488 8,000
Finance costs 998 603
Depreciation, depletion and amortisation expense 256 317
Other expenses 27,101 22,346
Total expenses 57,237 51,230
Profit before exceptional items and tax 4,133 507
Total profit before tax 4,133 507
Tax expense [Abstract]
Current tax 0 0
Deferred tax -1,375 0
Total tax expense -1,375 0
Total profit (loss) for period from continuing operations 5,508 507
Tax expense of discontinued operations 0 0
Total profit (loss) from discontinued operations after tax 0 0
Share of profit (loss) of associates and joint ventures accounted for
-25 -198
using equity method
Total profit (loss) for period 5,483 309
Profit or loss, attributable to owners of parent 5,484 308
Profit or loss, attributable to non-controlling interests -1 1
Comprehensive income OCI components presented net of tax [Abstract]
Whether company has other comprehensive income OCI components
Yes Yes
presented net of tax
Other comprehensive income net of tax [Abstract]
Components of other comprehensive income that will not be
reclassified to profit or loss, net of tax [Abstract]
Other comprehensive income, net of tax, gains (losses) on
-22 0
remeasurements of defined benefit plans
Other comprehensive income that will not be reclassified to
0 0
profit or loss, net of tax, others
Total other comprehensive income that will not be reclassified
-22 0
to profit or loss, net of tax
Other comprehensive income that will be reclassified to profit
0 0
or loss, net of tax, others
Total other comprehensive income that will be reclassified to
0 0
profit or loss, net of tax
Total other comprehensive income -22 0
Other comprehensive income attributable to net of tax [Abstract]
Other Comprehensive income, attributable to owners of parent -22 0
Other Comprehensive income, attributable to non-controlling
0 0
interests
Total comprehensive income 5,461 309
Comprehensive income attributable to net of tax [Abstract]
Comprehensive income, attributable to owners of parent 5,462 308
Comprehensive income, attributable to non-controlling interests -1 1
Comprehensive income OCI components presented before tax [Abstract]
Whether company has comprehensive income OCI components presented
No No
before tax
Other comprehensive income before tax [Abstract]
Total other comprehensive income -22 0
Other comprehensive income attributable to [Abstract]
Other Comprehensive income, attributable to owners of parent -22 0
Other Comprehensive income, attributable to non-controlling
0 0
interests
Total comprehensive income 5,461 309
Comprehensive income attributable to [Abstract]
Comprehensive income, attributable to owners of parent 5,462 308
Comprehensive income, attributable to non-controlling interests -1 1
Earnings per share explanatory [TextBlock]

20
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Earnings per share [Abstract]

Basic earnings per share [Abstract]
Basic earnings (loss) per share from continuing operations [INR/shares] 83 [INR/shares] 5
Total basic earnings (loss) per share [INR/shares] 83 [INR/shares] 5
Diluted earnings per share [Abstract]
Diluted earnings (loss) per share from continuing operations [INR/shares] 55 [INR/shares] 3
Total diluted earnings (loss) per share [INR/shares] 55 [INR/shares] 3

Footnotes
(A)

Payment gateway charges (1403) + Logistic charges (19991)

(B)

Payment gateway charges (1185) + Logistic charges (18779)

[400200] Statement of changes in equity

Statement of changes in equity [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Equity attributable
to the equity
Components of equity [Axis] Equity [Member]
holders of the
parent [Member]
01/04/2024 01/04/2023 01/04/2024
to to 31/03/2023 to
31/03/2025 31/03/2024 31/03/2025
Other equity [Abstract]
Statement of changes in equity [Line items]
Equity [Abstract]
Changes in equity [Abstract]
Comprehensive income [Abstract]
Profit (loss) for period 5,483 309 5,484
Changes in comprehensive income components -22 0 -22
Total comprehensive income 5,461 309 5,462
Other changes in equity [Abstract]
Other additions to reserves 47,290 0 47,290
Deductions to reserves [Abstract]
Other utilisation of securities premium
47,290 0 47,290
if permitted
Other deductions to reserves 0 14 0
Total deductions to reserves 47,290 14 47,290
Appropriations for dividend, dividend tax
and general reserve [Abstract]
Dividend appropriation [Abstract]
Interim dividend appropriation
[Abstract]
Interim special dividend
0 0 0
appropriation
Total interim dividend appropriation 0 0 0
Final dividend appropriation [Abstract]
Final equity dividend appropriation 0 0 0
Final special dividend appropriation 0 0 0
Total final dividend appropriation 0 0 0
Total dividend appropriation 0 0 0
Transfer to Retained earnings 0 0 0
Total appropriations for dividend,
0 0 0
dividend tax and retained earnings
Increase (decrease) through other
0 12,684 0
contributions by owners, equity
Increase (decrease) through other changes,
0 0 0
equity
Other changes in equity, others 0 0 0
Total other changes in equity 0 12,670 0
Total increase (decrease) in equity 5,461 12,979 5,462
Other equity at end of period 15,158 9,697 -3,282 14,984

21
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Statement of changes in equity [Table] ..(2)

Unless otherwise specified, all monetary values are in Millions of INR
Equity attributable to the equity Equity component of financial
Components of equity [Axis]
holders of the parent [Member] instrument [Member]
01/04/2023 01/04/2024 01/04/2023
to 31/03/2023 to to
31/03/2024 31/03/2025 31/03/2024
Other equity [Abstract]
Statement of changes in equity [Line items]
Equity [Abstract]
Changes in equity [Abstract]
Comprehensive income [Abstract]
Profit (loss) for period 308 0 0
Changes in comprehensive income components 0 0 0
Total comprehensive income 308 0 0
Other changes in equity [Abstract]
Other additions to reserves 0
Deductions to reserves [Abstract]
Other utilisation of securities premium
0 0 0
if permitted
Other deductions to reserves 14 0 0
Total deductions to reserves 14 0 0
Appropriations for dividend, dividend tax
and general reserve [Abstract]
Dividend appropriation [Abstract]
Interim dividend appropriation
[Abstract]
Interim special dividend
0
appropriation
Total interim dividend appropriation 0
Final dividend appropriation [Abstract]
Final equity dividend appropriation 0
Final special dividend appropriation 0
Total final dividend appropriation 0
Total dividend appropriation 0
Transfer to Retained earnings 0 0 0
Total appropriations for dividend,
0 0 0
dividend tax and retained earnings
Increase (decrease) through other
12,684 0 0
contributions by owners, equity
Increase (decrease) through other changes,
0 0 0
equity
Other changes in equity, others 0 0 0
Total other changes in equity 12,670 0 0
Total increase (decrease) in equity 12,978 0 0
Other equity at end of period 9,522 -3,456 34 34

22
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Statement of changes in equity [Table] ..(3)

Unless otherwise specified, all monetary values are in Millions of INR
Equity component
of financial
Components of equity [Axis] Reserves [Member]
instrument
[Member]
01/04/2024 01/04/2023
31/03/2023 to to 31/03/2023
31/03/2025 31/03/2024
Other equity [Abstract]
Statement of changes in equity [Line items]
Equity [Abstract]
Changes in equity [Abstract]
Comprehensive income [Abstract]
Profit (loss) for period 5,484 308
Changes in comprehensive income components -22 0
Total comprehensive income 5,462 308
Other changes in equity [Abstract]
Other additions to reserves 47,290 0
Deductions to reserves [Abstract]
Other utilisation of securities premium
47,290 0
if permitted
Other deductions to reserves 0 14
Total deductions to reserves 47,290 14
Appropriations for dividend, dividend tax
and general reserve [Abstract]
Dividend appropriation [Abstract]
Interim dividend appropriation
[Abstract]
Interim special dividend
0 0
appropriation
Total interim dividend appropriation 0 0
Final dividend appropriation [Abstract]
Final equity dividend appropriation 0 0
Final special dividend appropriation 0 0
Total final dividend appropriation 0 0
Total dividend appropriation 0 0
Transfer to Retained earnings 0 0
Total appropriations for dividend,
0 0
dividend tax and retained earnings
Increase (decrease) through other
0 12,684
contributions by owners, equity
Increase (decrease) through other changes,
0 0
equity
Other changes in equity, others 0 0
Total other changes in equity 0 12,670
Total increase (decrease) in equity 5,462 12,978
Other equity at end of period 34 14,950 9,488 -3,490

23
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Statement of changes in equity [Table] ..(4)

Unless otherwise specified, all monetary values are in Millions of INR
General reserve
Components of equity [Axis] Securities premium reserve [Member]
[Member]
01/04/2024 01/04/2023 01/04/2024
to to 31/03/2023 to
31/03/2025 31/03/2024 31/03/2025
Other equity [Abstract]
Statement of changes in equity [Line items]
Equity [Abstract]
Changes in equity [Abstract]
Comprehensive income [Abstract]
Profit (loss) for period 0 0 0
Changes in comprehensive income components 0 0 0
Total comprehensive income 0 0 0
Other changes in equity [Abstract]
Other additions to reserves 0 0 0
Deductions to reserves [Abstract]
Other utilisation of securities premium
47,290 0 0
if permitted
Other deductions to reserves 0 14
Total deductions to reserves 47,290 14 0
Appropriations for dividend, dividend tax
and general reserve [Abstract]
Transfer to Retained earnings 0 0 0
Total appropriations for dividend,
0 0 0
dividend tax and retained earnings
Increase (decrease) through other
0 12,684
contributions by owners, equity
Increase (decrease) through other changes,
0 0 0
equity
Other changes in equity, others 0 0 0
Total other changes in equity -47,290 12,670 0
Total increase (decrease) in equity -47,290 12,670 0
Other equity at end of period (A) 19,995 67,285 54,615 (B) 589

Footnotes
(A)

Securities premium

Securities premium is used to record the premium on issue of shares. The reserve can be utilised only for limited purposes such as
issuance of bonus shares in accordance with the provisions of the Companies Act, 2013.

(B)

Under the erstwhile Companies Act 1956, general reserve was created through an annual transfer of net income at a specified
percentage in accordance with applicable regulations. The purpose of these transfers was to ensure that if a dividend distribution in a
given year is more than 10% of the paid-up capital of the Group for that year, then the total dividend distribution is less than the total
distributable results for that year. Consequent to introduction of Companies Act 2013, the requirement to mandatorily transfer a
specified percentage of the net profit to general reserve has been withdrawn. However, the amount previously transferred to the
general reserve can be utilised only in accordance with the specific requirements of Companies Act, 2013.

24
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Statement of changes in equity [Table] ..(5)

Unless otherwise specified, all monetary values are in Millions of INR
Components of equity [Axis] General reserve [Member] Retained earnings [Member]
01/04/2023 01/04/2024 01/04/2023
to 31/03/2023 to to
31/03/2024 31/03/2025 31/03/2024
Other equity [Abstract]
Statement of changes in equity [Line items]
Equity [Abstract]
Changes in equity [Abstract]
Comprehensive income [Abstract]
Profit (loss) for period 0 5,484 308
Changes in comprehensive income components 0 -22 0
Total comprehensive income 0 5,462 308
Other changes in equity [Abstract]
Other additions to reserves 0 47,290 0
Deductions to reserves [Abstract]
Other utilisation of securities premium
0 0 0
if permitted
Total deductions to reserves 0 0 0
Appropriations for dividend, dividend tax
and general reserve [Abstract]
Dividend appropriation [Abstract]
Interim dividend appropriation
[Abstract]
Interim special dividend
0 0
appropriation
Total interim dividend appropriation 0 0
Final dividend appropriation [Abstract]
Final equity dividend appropriation 0 0
Final special dividend appropriation 0 0
Total final dividend appropriation 0 0
Total dividend appropriation 0 0
Transfer to Retained earnings 0 0 0
Total appropriations for dividend,
0 0 0
dividend tax and retained earnings
Increase (decrease) through other changes,
0 0 0
equity
Other changes in equity, others 0 0 0
Total other changes in equity 0 47,290 0
Total increase (decrease) in equity 0 52,752 308
Other equity at end of period 589 589 -5,634 -58,386

25
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Statement of changes in equity [Table] ..(6)

Unless otherwise specified, all monetary values are in Millions of INR
Retained earnings
Components of equity [Axis] Other retained earning [Member]
[Member]
01/04/2024 01/04/2023
31/03/2023 to to 31/03/2023
31/03/2025 31/03/2024
Other equity [Abstract]
Statement of changes in equity [Line items]
Equity [Abstract]
Changes in equity [Abstract]
Comprehensive income [Abstract]
Profit (loss) for period 5,484 308
Changes in comprehensive income components -22 0
Total comprehensive income 5,462 308
Other changes in equity [Abstract]
Other additions to reserves 47,290 0
Deductions to reserves [Abstract]
Other utilisation of securities premium
0 0
if permitted
Total deductions to reserves 0 0
Appropriations for dividend, dividend tax
and general reserve [Abstract]
Dividend appropriation [Abstract]
Interim dividend appropriation
[Abstract]
Interim special dividend
0 0
appropriation
Total interim dividend appropriation 0 0
Final dividend appropriation [Abstract]
Final equity dividend appropriation 0 0
Final special dividend appropriation 0 0
Total final dividend appropriation 0 0
Total dividend appropriation 0 0
Transfer to Retained earnings 0 0
Total appropriations for dividend,
0 0
dividend tax and retained earnings
Increase (decrease) through other changes,
0 0
equity
Other changes in equity, others 0 0
Total other changes in equity 47,290 0
Total increase (decrease) in equity 52,752 308
Other equity at end of period -58,694 (A) -5,634 -58,386 -58,694

Footnotes
(A)

All the profit or losses made by the Group are transferred to retained earnings from the Consolidated Statement of Profit and Loss.

26
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Statement of changes in equity [Table] ..(7)

Unless otherwise specified, all monetary values are in Millions of INR
Components of equity [Axis] Non-controlling interests [Member]
01/04/2024 01/04/2023
to to 31/03/2023
31/03/2025 31/03/2024
Other equity [Abstract]
Statement of changes in equity [Line items]
Equity [Abstract]
Changes in equity [Abstract]
Comprehensive income [Abstract]
Profit (loss) for period -1 1
Total comprehensive income -1 1
Other changes in equity [Abstract]
Other additions to reserves 0 0
Deductions to reserves [Abstract]
Other utilisation of securities premium if permitted 0 0
Total deductions to reserves 0 0
Total other changes in equity 0 0
Total increase (decrease) in equity -1 1
Other equity at end of period 174 175 174

27
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

[320000] Cash flow statement, indirect

Unless otherwise specified, all monetary values are in Millions of INR
01/04/2024 01/04/2023
to to 31/03/2023
31/03/2025 31/03/2024
Statement of cash flows [Abstract]
Whether cash flow statement is applicable on company (A) Yes (B) Yes
Cash flows from used in operating activities [Abstract]
Profit before tax 4,133 507
Adjustments for reconcile profit (loss) [Abstract]
Adjustments for finance costs 998 603
Adjustments for decrease (increase) in trade receivables, current -757 -656
Adjustments for decrease (increase) in other current assets 18 449
Adjustments for decrease (increase) in other non-current assets -83 -1
Adjustments for other financial assets, non-current -93 -593
Adjustments for other financial assets, current -4,372 -22,344
Adjustments for increase (decrease) in trade payables, current -841 1,472

Adjustments for increase (decrease) in other current liabilities (C) -365 (D) 245
Adjustments for depreciation and amortisation expense 256 317
Adjustments for provisions, current -7 -16
Adjustments for provisions, non-current 8 -1
Adjustments for other financial liabilities, current -45 2,746
Adjustments for unrealised foreign exchange losses gains 84 -49
Adjustments for interest income 90 26

Other adjustments for non-cash items (E) 450 (F) 339

Total adjustments for reconcile profit (loss) -4,839 -17,515
Net cash flows from (used in) operations -706 -17,008
Income taxes paid (refund) -942 539
Net cash flows from (used in) operating activities 236 -17,547
Cash flows from used in investing activities [Abstract]
Other cash payments to acquire equity or debt instruments of other
0 2
entities
Proceeds from sales of property, plant and equipment 3 4
Purchase of property, plant and equipment 117 78
Net cash flows from (used in) investing activities -114 -76
Cash flows from used in financing activities [Abstract]
Proceeds from issuing shares 0 12,669
Proceeds from borrowings 79,785 100,455

Repayments of borrowings (G) 79,697 (H) 94,584

Payments of lease liabilities (I) 123 (J) 115
Interest paid 236 581

Net cash flows from (used in) financing activities (K) -271 (L) 17,844
Net increase (decrease) in cash and cash equivalents before effect of
-149 221
exchange rate changes
Net increase (decrease) in cash and cash equivalents -149 221
Cash and cash equivalents cash flow statement at end of period 228 377 156

28
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Footnotes
(A)

Refer note 9 for changes in liabilities arising from financing activities including cash and non-cash changes

(B)

Refer note 9 for changes in liabilities arising from financing activities including cash and non-cash changes

(C)

(Decrease)/increase in other current liabilities (-277) + (Decrease)/increase in contract liabilities (-25) + (Decrease) in refund
liabilities (-63)

(D)

(Decrease)/increase in other current liabilities (116) + (Decrease)/increase in contract liabilities (224) + (Decrease) in refund
liabilities (-95)

(E)

Allowance for doubtful debts and advances (368) + Unwinding of discounts on refundable deposits (-1) + Bad debts written off
(274) + Profit on sale of property plant and equipment (net) (-0) + Liabilities or provision no longer required written back
(-211)+Advances written off (20)

(F)

Allowance for doubtful debts and advances (347) + Unwinding of discounts on refundable deposits (-3) + Bad debts written off (0) +
Profit on sale of property plant and equipment (net) (-4) + Liabilities or provision no longer required written back (0)+Advances
written off (0)

(G)

Repayment of short-term borrowings (79697)

(H)

Repayment of short-term borrowings (94584)

(I)

Repayment of principal portion of lease liabilities (117) + Repayment of interest portion of lease liabilities (6)

(J)

Repayment of principal portion of lease liabilities (105) + Repayment of interest portion of lease liabilities (10)

(K)

Refer note 9 for changes in liabilities arising from financing activities including cash and non-cash changes

(L)

Refer note 9 for changes in liabilities arising from financing activities including cash and non-cash changes

[610100] Notes - List of accounting policies

Unless otherwise specified, all monetary values are in Millions of INR
01/04/2024 01/04/2023
to to
31/03/2025 31/03/2024

Refer to
"Disclosure of
Textual information (2)
Disclosure of significant accounting policies [TextBlock] [See below]
significant accounting
policies Text Bock"
2024-25

29
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Textual information (2)

Disclosure of significant accounting policies [Text Block]

1. Corporate information
Myntra Designs Private Limited (herein after referred to as "the Company"') CIN:U72300KA2007PTC041799M was
incorporated on February 16, 2007, as a Private Limited Company under the Companies Act, 2013. The Company engages
in marketplace services operating an online portal - [Link] and mobile application - on which third-party sellers
sell products to customers. The holding company is FK Myntra Holdings Private Limited, Singapore , the Intermediate
Holding Company is Flipkart Private Limited, Singapore and the Ultimate Holding Company is Walmart Inc., U.S.A (w.e.f.
August 18, 2018). The Company is domiciled and incorporated in Bengaluru. The registered office of the Company is located
at Buildings Alyssa, Begonia & Clover, Embassy Tech Village, Outer Ring Road, Devarabeesanahalli Village, Bangalore,
India.
The Consolidated Ind-As Financial Statements comprise Financial Statements of Myntra Designs Private Limited (the
"Company"), its subsidiary (collectively, the 'Group') and its associates for the year ended March 31, 2025.
The Consolidated Ind-AS Financial Statements of the Group were authorised for issue in accordance with a resolution of the
directors on June 30, 2025.

The subsidiaries and associates included in the Consolidated Ind-AS Financial Statements are as under:-

Country of Proportion of Date of acquisition/

Name of the Company Relationship
incorporation ownership incorporation
March 31, 2025 March 31, 2024
January 3,
Myntra Inc. USA Associate 41.05% 41.05%
2013
XS Brands Consultancy Private August 5,
India Subsidiary 51% 51%
Limited 2016
Wrogn Private Limited (formerly
November 19,
known as Universal Sportsbiz India Associate 2.53% 3.33%
2020
Private Limited)

1.1. Statement of compliance and basis of preparation

The Consolidated Ind-AS Financial Statements have been prepared in accordance with Indian Accounting Standards
(Ind-AS) and the provisions of the Companies Act, 2013 ("Act") (to the extent notified). The Ind-AS are prescribed under
Section 133 of the Act read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015, as amended from time
to time and presentation requirements of Division II of Schedule III to the Companies Act, 2013, (Ind AS compliant Schedule
III), as applicable to the Consolidated Ind-AS Financial Statements.
The Consolidated Ind-AS Financial Statements are presented in Indian Rupees (INR or Rs.) and all values in the tables are
reported in millions of Indian rupees (Rupees in millions ('Mn') except share data, unless otherwise stated. Certain notes and
disclosures in the Consolidated Ind-AS Financial Statements have been represented as Zero ("0"), where the absolute
amount is below the rounding off norms adopted by the Group.
The Consolidated Ind-AS Financial Statements have been prepared on going concern basis. Accounting policies have been
consistently applied except where a newly issued accounting standard is initially adopted or a revision to an existing
accounting standard requires a change in the accounting policy in use.

1.2 Basis of consolidation

The Consolidated Ind-AS Financial Statements comprise the Financial Statements of the Group as at March 31, 2025 and
the share of profits/losses of its Associates.
Control is achieved when the group is exposed, or has rights, to variable returns from its involvement with the investee and
has the ability to affect those returns through its power over the investee. Specifically, the Group controls an investee if and
only if the Group has:
a. Power over the investee (i.e., existing rights that give it the current ability to direct the relevant activities, which significantly
affect the Group’s returns)
b. Exposure, or rights, to variable returns from its involvement with the investee, and
c. The ability to use its power over the investee to affect its returns.
Generally, there is a presumption that a majority of voting rights result in control. To support this presumption and when the
Group has less than a majority of the voting or similar rights of an investee, the Group considers all relevant facts and
circumstances in assessing whether it has power over an investee, including:
- The contractual arrangement with the other vote holders of the investee
- Rights arising from other contractual arrangements
- The Group's voting rights and potential voting rights
The Group reassesses whether or not it controls an investee if facts and circumstances indicate that there are changes to
one or more of the three elements listed above.

30
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Consolidation of a material subsidiary begins when the Group obtains control over the subsidiary and ceases when the

31
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Group loses control of the subsidiary. Assets, liabilities, income and expenses of a subsidiary acquired or disposed of during
the year are included in the Consolidated Ind AS Financial Statements from the date the Group gains control until the date
the Group ceases to control the subsidiary.
Non-controlling interest is the equity in a subsidiary not attributed to the owners of the parent and is presented separately.
Profit or loss and each component of other comprehensive income are attributed to the owners of the parent and to the
non-controlling interests, even if this results in the non-controlling interests having a deficit balance. When necessary,
adjustments are made to the financial statement of subsidiary to bring their accounting policies in line with the Group’s
accounting policies. All-intra-group assets and liabilities, equity, income, expenses and cash flows relating to the transactions
between members of the Group are eliminated in full on consolidation.
Notwithstanding the above, the Group has excluded certain variable interest entities as covered in IFRS 12 from
consolidation as they are not material to these Consolidated Ind-AS financial statements.

Consolidation procedure:
(a) Combine like items of assets, liabilities, equity, income, expenses and cash flows of the parent with those of its
subsidiary. For this purpose, income and expenses of the subsidiary are based on the amounts of the assets and liabilities
recognised in the Consolidated Ind-AS Financial Statements at the acquisition date.
(b) Offset (eliminate) the carrying amount of the parent’s investment in each subsidiary and the parent’s portion of equity of
each subsidiary. Business combinations policy explains how to account for any related goodwill.
(c) Eliminate in full intra-group assets and liabilities, equity, income, expenses and cash flows relating to transactions
between entities of the group (profits or losses resulting from intra-group transactions that are recognised in assets, such as
inventory and property plant and equipments, are eliminated in full). Intra-group losses may indicate an impairment that
requires recognition in the Consolidated Ind-AS Financial Statements. Ind-AS 12 Income Taxes applies to temporary
differences that arise from the elimination of profits and losses resulting from intra-group transactions.
Profit or loss and each component of other comprehensive income (OCI) are attributed to the equity holders of the parent of
the Group and to the non-controlling interests, even if this results in the non-controlling interests having a deficit balance.
A change in the ownership interest of a subsidiary, without a loss of control, is accounted for as an equity transaction. If the
Group loses control over a subsidiary, it:
- Derecognises the assets (including goodwill) and liabilities of the subsidiary
- Derecognises the carrying amount of any non-controlling interests
- Derecognises the cumulative translation differences recorded in equity
- Recognises the fair value of the consideration received
- Recognises the fair value of any investment retained
- Recognises any surplus or deficit in profit or loss
- Reclassifies the parent’s share of components previously recognised in OCI to profit or loss or retained earnings, as
appropriate, as would be required if the Group had directly disposed of the related assets or liabilities
- Changes in a parent’s ownership interest in a subsidiary that do not result in the parent losing control of the subsidiary are
equity transactions (i.e. transactions with owners in their capacity as owners) in accordance with Ind-AS 110 Consolidation of
Financial Statements.
1.3 Basis of measurement
The Consolidated Ind-AS Financial Statements have been prepared on a historical cost basis and on an accrual basis,
except for the following assets and liabilities which have been measured at fair value as required by relevant Ind-AS;
(i) Certain financial assets and liabilities measured at fair value (refer accounting policy regarding financial instruments),
(ii) The defined benefit liability are recognized as the present value of defined benefit obligation less fair value of plan assets.

2. Summary of material accounting policies

2.1.(a) Goodwill
Goodwill represents the excess of the purchase price over the fair value of the identifiable assets and liabilities acquired in a
business combination. If the excess is negative, a bargain purchase gain is recognized immediately in Other Comprehensive
Income ("OCI") and accumulated in equity as capital reserve.
Goodwill is tested for impairment at least annually and when events occur or changes in circumstances indicate that the
recoverable amount of the cash generating unit is less than its carrying value. The goodwill impairment test is performed at
the level of cash-generating unit or groups of cash-generating units which represent the lowest level at which goodwill is
monitored for internal management purposes. The recoverable amount of the CGU is measured based on its value in use.
The value in use is determined based on discounted cash flow projections.
Where the recoverable amount of the cash-generating unit is less than the carrying amount, an impairment loss is
recognized in Consolidated Statement of Profit and Loss. Impairment losses recognized for goodwill are not reversed in
subsequent periods.

2.1.(b) Investment in associates

An associate is an entity over which the Group has significant influence. Significant influence is the power to participate in
the financial and operating policy decisions of the investee, but not control over those policies. The Group’s investments in its
associate are accounted at cost, net of impairment, if any.
The considerations made in determining whether significant influence is similar to those necessary to determine control over
the subsidiary.
The Group reviews its carrying value of investments carried at cost annually, or more frequently when there is indication for
impairment. If the recoverable amount is less than its carrying amount, the impairment loss is recorded in the Consolidated

32
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Statement of Profit and Loss.

33
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

When an impairment loss subsequently reverses, the carrying amount of the Investment is increased to the revised estimate
of its recoverable amount, so that the increased carrying amount does not exceed the cost of the Investment. A reversal of
an impairment loss is recognised immediately in Consolidated Statement of Profit or Loss.
The Group’s investments in its associate are accounted for using the equity method. Under the equity method, the
investment in an associate is initially recognised at cost. The carrying amount of the investment is adjusted to recognise
changes in the Group’s share of net assets of the associate since the acquisition date. Goodwill relating to the associate is
included in the carrying amount of the investment and is not tested for impairment individually.
The Consolidated Statement of Profit and Loss reflects the Group’s share of the results of operations of the associates. Any
change in OCI of those investees is presented as part of the Group’s OCI. In addition, when there has been a change
recognised directly in the equity of the associates, the Group recognises its share of any changes, when applicable, in the
consolidated statement of changes in equity. Unrealised gains and losses resulting from transactions between the Group and
the associates are eliminated to the extent of the interest in the associates.
If an entity’s share of losses of an associate equals or exceeds its interest in the associate (which includes any long term
interest that, in substance, form part of the Group’s net investment in the associate), the entity discontinues recognising its
share of further losses. Additional losses are recognised only to the extent that the Group has incurred legal or constructive
obligations or made payments on behalf of the associate. If the associate subsequently reports profits, the entity resumes
recognising its share of those profits only after its share of the profits equals the share of losses not recognised.
The aggregate of the Group’s share of profit or loss of an associate is shown on the face of the Consolidated Statement of
Profit and Loss. The Ind-AS Financial Statements of the associates are prepared for the same reporting period as the Group.
When necessary, adjustments are made to bring the accounting policies in line with those of the Group.
After application of the equity method, the Group determines whether it is necessary to recognise an impairment loss on its
investment in its associates. At each reporting date, the Group determines whether there is objective evidence that the
investment in the associates is impaired. If there is such evidence, the Group calculates the amount of impairment as the
difference between the recoverable amount of the associates and its carrying value, and then recognises the loss as ‘Share
of loss/ profit of the associates’ in the Consolidated Statement of Profit and Loss.

Upon loss of significant influence over the associate, the Group measures and recognises any retained investment at its fair
value. Any difference between the carrying amount of the associates upon loss of significant influence and the fair value of
the retained investment and proceeds from disposal is recognised in the Consolidated Statement of Profit and Loss.
The Company has accounted for its Investment in subsidiaries at cost less impairment loss, (if any).
2.2 Functional and Foreign currency
Functional and presentation currency
Management has determined the currency of the primary economic environment in which the entity resides in and operates
as the functional currency. The functional currency of the Group is Indian Rupees (Rs). The Consolidated Ind-AS Financial
Statements have been presented in Rs millions, as it best represents the operating business performance and underlying
transactions.
Transactions and balances
Transactions in foreign currencies are measured in the functional currency of the Group and are recorded on initial
recognition in the functional currency at exchange rates prevailing at the transaction dates. Monetary assets and liabilities
denominated in foreign currencies are translated at the rate of exchange ruling at the end of the reporting year.
Differences arising on settlement or translation of monetary items are recognised in the Consolidated Statement of Profit and
Loss.

2.2 Property, plant and equipment

(a) Recognition and measurement
All items of Property, plant and equipment are initially measured at cost and subsequently it is measured at cost less
accumulated depreciation and impairment losses, if any. Costs include expenditures directly attributable to the acquisition of
assets. The cost of an item of Property, plant and equipment is recognised as an asset, if and only if, it is probable that future
economic benefits associated with the item will flow to the Group and the cost of the item can be measured reliably. When
significant parts of Property, plant and equipment are required to be replaced in intervals, the Group recognises such parts
as individual assets with specific useful lives and depreciation, respectively. Any subsequent cost incurred is recognised in
the carrying amount of the Property, plant and equipment as a replacement if the recognition criteria are satisfied. All other
repair and maintenance costs are recognised in Consolidated Statement of Profit and Loss as incurred.
(b) Depreciation
The Group depreciates property, plant and equipment over the estimated useful life on a straight-line basis from the date the
assets are available for use. Leasehold improvements are amortised over the estimated useful life of 7 years or the lease
period, whichever is lower.
Depreciation is not recorded on capital work-in-progress until construction and installation are complete and the asset is
ready for its intended use.
The residual value, estimated useful life and method of depreciation of property, plant and equipment are reviewed at each
financial year and adjusted prospectively, if appropriate. The estimated useful lives of the assets are as follows:

Nature of Assets Estimated Useful Life (Yrs.)

Computers 3 Years
Computer Servers (Included in Computers) 5 Years
Office equipment 5 Years

34
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Furniture and fixtures 5 Years

Plant and machinery 5 Years
Leasehold Improvements 7 years or lease term whichever is lower

The Group, based on technical assessment made by technical expert and management estimate, depreciates the certain
items of plant and equipment over estimated useful lives which are different from the useful life prescribed in Schedule II to
the Companies Act, 2013. The management believes that these estimated useful lives are realistic and reflect fair
approximation of the period over which the assets are likely to be used.
The carrying values of property, plant and equipment are reviewed for impairment when events or changes in circumstances
indicate that the carrying value may not be recoverable.
An item of Property, plant and equipment is derecognised upon disposal or when no future economic benefits are expected
from its use or disposal. Any gain or loss on de-recognition of the asset is included in the Consolidated Statement of Profit
and Loss in the year the asset is derecognised.
Intangible Assets
Intangible assets acquired in business combination are measured at fair value as at the date of acquisition. Following initial
recognition, intangible assets are carried at cost less any accumulated amortization and impairment losses, if any.
Intangible assets with indefinite useful lives or not yet available are not amortized, but instead tested for impairment annually.
Intangible assets with finite lives are amortized over the estimated useful life and assessed for impairment whenever there is
an indication that the intangible asset may be impaired. The amortization period and the amortization method for an
intangible asset with a finite useful life are reviewed at least at the end of each reporting period. Changes in the expected
useful life or the expected pattern of consumption of future economic benefits embodied in the asset is accounted for by
changing the amortisation period or method, as appropriate, and are treated as changes in accounting estimates. The
amortization expense on intangible assets with finite lives is recognized in the Consolidated Statement of Profit and Loss in
the expense category consistent with the nature of the intangible assets.
Gains or losses arising from de-recognition of an intangible asset are measured as the difference between the net disposal
proceeds and the net carrying amount of the asset and are recognised in Consolidated Statement of Profit and Loss when
the asset is derecognised.
The useful lives of the intangible assets assessed by the management are as follows and these are amortised on a straight
line basis over the period of the assets.

Nature of Assets Estimated Useful Life (Yrs.)

Computer software 2-3 Years
Trademark 3-15 Years
Internally generated software 3 Years
Brands acquired Indefinite life

2.4 Financial Instruments

A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity
instrument of another entity. Financial instruments in the form of financial assets and financial liabilities are generally
presented separately. Financial instruments are recognized on the Consolidated Balance Sheet when the Group becomes a
party to the contractual provisions of the instrument.
Upon initial recognition, financial instruments are measured at fair value. Transaction costs directly attributable to the
acquisition or issue of financial instruments are recognized in determining the carrying amount, if it is not classified as at fair
value through profit or loss. Subsequently, financial instruments are measured according to the category in which they are
classified.
The Group recognises its investments in associates at cost less any impairment losses. The said investments are tested for
impairment, at-least annually and whenever circumstances indicate that their carrying values may exceed the recoverable
amount (viz. higher of the fair value less costs to sell and the value-in-use).
Financial assets are classified into following categories:
- Financial assets carried at amortized cost
- Financial assets at fair value through profit or loss (FVTPL)
Financial liabilities are classified into financial liabilities at fair value through profit or loss.
Financial assets
Financial assets primarily comprise of trade receivables, other financial assets, cash and bank balances and investments.
Subsequent measurement
The subsequent measurement of financial assets depends on their classification as follows:
Financial assets carried at amortized cost
A financial asset is subsequently measured at amortized cost if it meets both the following criteria:
(i) the asset is held within a business model whose objective is to hold the asset to collect contractual cash flow, and
(ii) the contractual terms of the financial assets give rise on a specified date to cash flows that are solely payments of
principal and interest on the principal outstanding.
Financial assets at fair value through profit or loss (FVTPL) :
A financial asset which does not meet the amortized cost or FVTOCI criteria is measured as FVTPL. Financial assets at
FVTPL are measured at fair value at the end of each reporting period, with any gains or losses on re-measurement

35
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

recognized in Consolidated Statement of Profit and Loss. The gain or loss on disposal is recognized in the Consolidated
Statement of Profit and Loss. Interest income earned on FVTPL instruments are recognized in Consolidated Statement of
Profit and Loss.
Financial liabilities:
Financial liabilities primarily include trade payables, borrowings, lease liabilities, derivative financial liabilities and other
liabilities.
Financial liabilities measured at amortized cost
After initial recognition, financial liabilities are subsequently measured at amortized cost using the effective interest method.
For trade and other payables, the carrying amounts approximate fair value due to the short term maturity of these
instruments.
Derivative financial instruments
All derivatives are recognized initially at fair value on the date a derivative contract is entered into and subsequently
re-measured at fair value. Embedded derivatives are separated from the host contract and accounted for separately if they
are not closely related to the host contract. The Group measures all derivative financial instruments based on fair values
derived from market prices of the instruments or from option pricing models, as appropriate. Changes in the fair value of any
derivative instruments that do not qualify for hedge accounting are recognized immediately in the Consolidated Statement of
Profit and Loss, except for derivatives that are highly effective and qualify for cash flow or net investment hedge accounting.
De-recognition of financial assets and liabilities
The Group derecognizes a financial asset only when the contractual rights to the cash flows from the asset expires or it
transfers the financial asset and substantially all the risks and rewards of ownership of the asset to another entity. If the
Group neither transfers nor retains substantially all the risks and rewards of ownership and continues to control the
transferred asset, the Group recognizes its retained interest in the asset and an associated liability for amounts it may have
to pay. If the Group retains substantially all the risks and rewards of ownership of a transferred financial asset, the Group
continues to recognize the financial asset and also recognizes a collateralized borrowing for the proceeds received.
On de-recognition of a financial asset measured at amortized cost, the difference between the asset's carrying amount and
the sum of the consideration received and receivable is recognized in the Consolidated Statement of Profit and Loss. In
addition, on de-recognition of an investment in a debt instrument classified as at FVTOCI, the cumulative gain or loss
previously accumulated in the investments revaluation reserve is reclassified to profit or loss. In contrast, on de-recognition
of an investment in equity instrument which the Group has elected on initial recognition to measure at FVTOCI, the
cumulative gain or loss previously accumulated in the investments revaluation reserve is not reclassified to Consolidated
Statement of Profit and Loss, but is transferred to retained earnings.
The Group derecognizes financial liabilities when, and only when, the Group's obligations are discharged, cancelled or they
expire. The difference between the carrying amount of the financial liability derecognized and the consideration paid and
payable, including any non-cash assets transferred or liabilities assumed, is recognized in the Consolidated Statement of
Profit and Loss.
Offsetting of financial instruments
Financial assets and financial liabilities are offset with the net amount reported in the balance sheet only if there is a current
enforceable legal right to offset the recognized amounts and an intent to settle on a net basis, or to realize the assets and
settle the liabilities simultaneously.
2.5 Impairment
Financial assets
Ind-AS 109 requires the Group to record expected credit losses on all of its debt securities, loans and receivables, either on
a 12-month or life time expected credit losses. The Group recognizes loss allowances using the Expected Credit Loss (ECL)
model for the financial assets which are not fair valued through profit or loss. Loss allowance for trade receivable with no
significant financing component is measured at an amount equal to life time ECL. For all other financial assets, ECL are
measured at an amount equal to 12-month ECL, unless there is a significant increase in the credit risk from initial recognition
in which case those are measured at lifetime ECL. The amount of expected credit losses (or reversal) that is required to
adjust the loss allowance at the reporting date to the amount that is required to be recognized as an impairment gain or loss
in Consolidated Statement of Profit and Loss.
Non-financial assets
The Group assesses whether there are any indicators of impairment for all non-financial assets at each reporting date.
Goodwill and other intangible assets with indefinite economic lives are tested for impairment annually and at other times
when such indicators exist.
An asset's recoverable amount is the higher of an asset's or cash-generating unit's fair value less costs of disposal and its
value in use and is determined for an individual asset, unless the asset does not generate cash inflows that are largely
independent of those from other assets or Company's of assets. Where the carrying amount of an asset or cash-generating
unit exceeds its recoverable amount, the asset is considered impaired and is written down to its recoverable amount. In
assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate
that reflects current market assessments of the time value of money and the risks specific to the asset. In determining fair
value less costs of disposal, recent market transactions are taken into account, if available. If no such transactions can be
identified, an appropriate valuation model is used. These calculations are corroborated by valuation multiples or other
available fair value indicators.
Impairment losses are recognised in Consolidated Statement of Profit and Loss in those expense categories consistent with
the nature of the impaired asset. Other non-financial assets are tested for impairment when there are indicators that the
carrying amounts may not be recoverable.
2.6 Cash and cash equivalents
Cash and cash equivalents comprise cash at banks and on hand, demand deposits, and short-term with original maturity
less than 3 months, overnight mutual funds that are readily convertible to known amount of cash and which are subject to an

36
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

insignificant risk of changes in value.

2.7 Restricted cash
Cash that is restricted as to withdrawal for use or pledged as security is reported separately under other assets, and is not
included in the total cash and cash equivalents in the Consolidated Statement of Cash Flow. The Group’s restricted cash
mainly represents (a) the secured deposits held in designated bank accounts for which bank guarantee has been issued/
utilised; (b) time deposits that are pledged for outstanding short term loans and borrowings.
2.8 Provisions
Provisions are recognised when the Group has a present obligation (legal or constructive) as a result of a past event, it is
probable that an outflow of resources embodying economic benefits will be required to settle the obligation and the amount
of the obligation can be estimated reliably.
The amount recognized as a provision is the best estimate of the consideration required to settle the present obligation at the
end of the reporting period, taking into account the risks and uncertainties surrounding the obligation. The expense relating
to a provision is presented in the Consolidated Statement of Profit and Loss net of any reimbursement.
If the effect of the time value of money is material, provisions are discounted using a current pre tax rate that reflects, where
appropriate, the risks specific to the liability. When discounting is used, the increase in the provision due to the passage of
time is recognised as a finance [Link] amount recognized as a provision is the best estimate of the consideration required
to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties
surrounding the obligation. The expense relating to a provision is presented in the Consolidated Statement of Profit and Loss
net of any reimbursement.
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, the
receivable is recognized as an asset, if it is virtually certain that reimbursement will be received and the amount of the
receivable can be measured reliably.
(This space is intentionally left blank)
2.9 Employee benefits
Defined benefit plan
In accordance with applicable laws, the Group provides for gratuity, a defined benefit retirement plan (“the Gratuity Plan”) for
every employee who has completed 5 years or more of service on departure at 15 days salary (last drawn salary) for each
completed year of service. The Gratuity Plan provides for a lump sum payment to eligible employees at retirement, death,
incapacitation or termination of employment based on last drawn salary and tenure of employment with the Group. Liabilities
with regard to the Gratuity Plan are determined by actuarial valuation on the reporting date using projected unit credit
method. The gratuity scheme is not funded.
All actuarial gains and losses are immediately recognised in other comprehensive income, net of taxes, if any, and
permanently excluded from Consolidated Statement of Profit and Loss.
The cost of providing benefits under the defined benefit plan is determined using the projected unit credit method.
Re-measurements, comprising of actuarial gains and losses, the effect of the asset ceiling, excluding net interest and the
return on plan assets (excluding net interest), are recognised immediately in the Consolidated Statement of Profit and Loss
with a corresponding debit or credit to retained earnings through other comprehensive income in the period in which they
occur. Re-measurements are not reclassified to income statement in subsequent periods.
Past service costs are recognised in Consolidated Statement of Profit and Loss on the earlier of:
- The date of the plan amendment or curtailment, and
- The date that the Group recognizes restructuring-related costs
Net interest expense/ income is calculated by applying the discount rate to the net defined benefit liability or asset. The
Group recognises the following changes in the net defined benefit obligation under employee benefit expenses in
Consolidated Statement of Profit and Loss.
- Service costs comprising current service costs, past-service costs, net interest expense, gains and losses on curtailments
and non-routine settlements.
- Net interest expense or income.
Defined contribution plan
The Group makes contributions to the Provident Fund scheme, a defined contribution benefit scheme. These contributions
are deposited with Government administered fund and recognised as an expense in the period in which the related service is
performed. There is no further obligation on the Group on this defined contribution plan.
Compensated absences
Employee entitlements to annual leave are recognised as a liability when they accrue to the employees. The estimated
liability for leave is recognised for services rendered by employees up to the end of the reporting period.
Accumulated leaves, which is expected to be carry forward within the next 12 months, is treated as short-term employee
benefit. The Group measures the expected cost of such absences as the additional amount that it expects to pay as a result
of the unused entitlement that has accumulated at the reporting date.
The Group treats accumulated leave expected to be carried forward beyond twelve months, as long-term employee benefit
for measurement purposes. Such long-term compensated absences are provided for based on actuarial valuation using the
projected unit cost method at the year-end. Actuarial gains/losses are immediately taken to the Consolidated Statement of
Profit and Loss and not deferred. The Group presents entire leave as a current liability in the statement of financial position,
since it does not have an unconditional right the defer its settlement after 12 months after the reporting date.
Employee entitlements to annual leave are recognised as a liability when they accrue to the employees. The estimated
liability for leave is recognised for services rendered by employees up to the end of the reporting period.
Employee stock option plan
Flipkart Private Limited, Singapore (Intermediate Holding Company) operates equity compensation plans for the group
entities. The Group recognises the cost and corresponding liability based on the advice received from Flipkart Private

37
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Limited, Singapore.
Equity settled component
The cost of equity settled share-based payment transactions with employees is measured by reference to the fair value of
the options using option pricing model at the date on which the options are granted which takes into account market
conditions and non-vesting conditions provided that all other performance conditions are statisfied.
Cash settled component
The cost of cash settled share-based payment transactions is measured initially and at each reporting date up to and

38
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

including the settlement date, with changes in fair value recognised in employee benefits expense.
The fair value is expensed over the period until the vesting date with recognition of a corresponding liability to pay
Intermediate Holding Company.
2.10 Leases
The Group assesses at contract inception whether a contract is, or contains, a lease. That is, if the contract conveys the right
to control the use of an identified asset for a period of time in exchange for consideration.
Group as a lessee
The Company considers itself a lessee if the Company has the right to control the use of an identified asset in a lease
contract. The Company determines that it has the right to control the use of an identified asset if the Company has the right
to obtain and direct substantially all of the economic benefits from its use.
Lease term
Lease contracts may include options to extend or terminate the lease before the end of the lease period. Lease term is
defined as the non-cancellable period of the lease, adjusted with option(s) to extend or terminate the lease, when it is
reasonably certain that the Group will exercise that option.
Initial recognition and measurement
For all lease contracts in which the Company is a lessee, at the date of commencement of the lease (i.e., the date the
Company receives possession and the
underlying asset is available for its intended use by the Company per the terms of the contract), the Company applies a
single recognition and measurement
approach i.e., recognizes a lease liability to make lease payments over the lease term and a corresponding right-of-use
asset representing the right-of-use of the
underlying asset.
i) Right-of-use assets
The Group recognises right-of-use assets at the commencement date of the lease (i.e., the date the underlying asset is
available for use). Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and
adjusted for any remeasurement of lease liabilities. The cost of right-of-use assets includes the amount of lease liabilities
recognised, initial direct costs incurred, and an estimate of costs to dismantle and remove the underlying asset or to restore
the underlying asset or the site on which it is located, and lease payments made at or before the commencement date less
any lease incentives received.
Right-of-use assets are depreciated on a straight-line basis over the shorter of the lease term and the estimated useful lives
of the assets.

Nature of leased asset Estimated Useful Life (Yrs.)

Building 5 years
Vehicle 2 - 5 years

If ownership of the leased asset transfers to the Group at the end of the lease term or the cost reflects the exercise of a
purchase option, depreciation is calculated using the estimated useful life of the asset. The right-of-use assets are also
subject to impairment.
ii) Lease liabilities
Lease liabilities are initially measured at the present value of the aggregate of expected lease payments over the lease term
that are not paid at the commencement date of the lease, discounted using the Company's applicable incremental borrowing
rate because the rate implicit in the lease are not readily determinable.
Lease payments included in the measurement of the lease liabilities comprise the following:
(i) Fixed payments, including in-substance fixed payments;
(ii) Lease payments for an optional renewal period if the Company is reasonably certain to exercise an extension option, and
(iii) Penalties for early termination unless the Company is reasonably certain not to terminate early or outflows are not
probable
iii) Short-term leases and leases of low-value assets
Leases with an initial lease term of 12 months or less is considered as short-term leases. Leases having underlying assets of
low value, when new, individually, is
considered as leases of low-value assets even if such underlying assets may be material in aggregate such as printers,
tablets, personal computers, telephones and
small items of office furniture. For these short-term leases and leases of low-value assets in which the Company is a lessee,
the Company has elected not to
recognise right-of-use assets or corresponding lease liability on lease commencement date and instead report the
associated lease expense accruals as an operating expense on a straight-line basis over the lease term.
Subsequent measurement
Lease liability and interest costs
Lease liabilities are subsequently measured by adjusting its carrying value to reflect accretion of interest using the effective
interest method and the lease payments made. In addition, the Company re-measures the lease liability whenever -
(a) the lease term has changed or there is a significant event or change in circumstances resulting in a change in the
assessment of exercise of a purchase, extension or termination option by the Company, in which case the lease liability is
remeasured by discounting the revised lease payments using a revised discount rate.
(b) a lease contract is modified, and the lease modification is not accounted for as a separate lease, in which case the lease
liability is remeasured based on the lease term of the modified lease by discounting the revised lease payments using a
revised discount rate at the effective date of the modification.
Right-of-use asset and depreciation
Right-of-use assets are subsequently measured at cost less accumulated depreciation allowances, impairment expenses

39
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

and adjustment for re-measurement of lease liabilities, if any. Right-of-use assets are depreciated from the lease
commencement date on a straight-line basis over the shorter of the lease term and estimated useful life of the underlying
asset. The estimated useful lives of right-of-use assets are determined on the same basis as those of the items of property,
plant and equipment.
Impairment of right-of-use asset
The Company applies Ind-AS 116 to determine whether a right-of-use asset is impaired and accounts for any identified
impairment loss as described in the property,
plant and equipment’s policy
2.11 Revenue from operations
Revenue is recognized upon transfer of control of promised services to customers in an amount that reflects the
consideration we expect to receive in exchange for those services.
Revenue is measured based on the amount of consideration that we expect to receive, reduced by estimates for return
allowances, promotional discounts, and rebates. Revenue also excludes any amounts collected on behalf of third parties,
including sales and indirect taxes. In arrangements where we have multiple performance obligations, the transaction price is
allocated to each performance obligation using the relative stand-alone selling price. We generally determine stand-alone
selling prices based on the prices charged to customers or using expected cost plus a margin.
The Group accounts for volume discounts and pricing incentives to customers as a reduction of revenue. Incentives to
customers are provided in various forms including discounts on fees, discounts on items sold, coupons and rewards.
Promotions and incentives which are consideration payable to a customer are recognised as a reduction of revenue at the
time when revenue is recognised.
Refunds are recorded as a reduction of revenue. We estimate our refund liabilities using historical refund experience by deal
category. We assess the trends that could affect our estimates on an ongoing basis and adjust the refund reserve
calculations if it appears that changes in circumstances, including changes to our refund policies or general economic
conditions, may cause future refunds to differ from our initial estimates. If actual refunds differ from our estimates, the effects
could be material to the Group's Consolidated Ind-AS Financial Statements.
Contract Liabilities (Unearned revenue) is recognised if a payment is received or a payment is due i.e. invoicing is complete
(whichever is earlier) from a customer before the Group transfers the related services.
Contract modifications are accounted for when additions, deletions or changes are approved either to the contract scope or
contract price. The accounting for modifications of contracts involves assessing whether the services added to an existing
contract are distinct and whether the pricing is at the standalone selling price. Services added that are not distinct are
accounted for on a cumulative catch up basis, while those that are distinct are accounted for prospectively, either as a
separate contract, if the additional services are priced at the standalone selling price, or as a termination of the existing
contract and creation of a new contract if not priced at the standalone selling price.
The following is a description of principal activities from which the Group generates its revenue along with specific
recognition criteria which must also be met before revenue is recognised:
Rendering of services
Income from marketplace services
Marketplace services generates revenue primarily from transaction fees paid by customers (sellers) in marketplace. Revenue
related to transaction fees and any related fulfilment fees earned from these arrangements are recognised when the services
are rendered, which generally happens at the time underlying order has been dispatched.
Income from logistics services
Income from logistics services include warehousing and shipping services. Revenue from warehousing services is
recognised over the period of delivery of such services. Revenue from shipping services is recognised over time.
Revenue from consultancy services is recognised as and when services are provided over a period of time.
Income from advertisement services
Revenue from advertising services is recognized on point in time as advertisements based on the number of clicks delivered
(which are generated each time users on our platforms click through our advertisements to an advertiser’s designated
website) or completion of impressions (i.e., the number of times that an advertisement appears in pages viewed by users of
our platforms) or completion of per day billing during sale events. We use the output method and apply the practical
expedient to recognize advertising revenue in the amount to which we have a right to invoice.
Income from royalty services
Income from royalty services is recognised on accrual basis as the services are rendered in accordance with the terms of the
agreement entered into by the Group with its customers.
Interest income
Interest income is recognised using the effective interest method. Effective interest is the rate that exactly discounts the
estimated future cash receipts over the expected life of the financial instrument or a shorter period, where appropriate, to the
net carrying amount of the financial asset. Interest income is included in finance income in the Consolidated Statement of
Profit and Loss. Finance income comprises of interest income on fixed deposits, and changes in fair value and gains/(losses)
on disposal of financial instruments classified as FVTPL.
2.12 Finance cost
Finance expenses comprise interest cost on borrowings. Borrowing costs that are not directly attributable to a qualifying
asset are recognized in the Consolidated Statement of Profit and Loss using the effective interest method.
2.13 Taxes
Income tax comprises current and deferred tax. Income tax expense is recognized in the Consolidated Statement of Profit
and Loss except to the extent it relates to a business combination, or items directly recognized in equity or in other
comprehensive income.

40
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Current income tax

Current income tax for the current and prior periods are measured at the amount expected to be recovered from or paid to
the taxation authorities based on the taxable income for the period. The tax rates and tax laws used to compute the current
tax amount are those that are enacted or substantively enacted by the reporting date and applicable for the period. The
Group offsets current tax assets and current tax liabilities, where it has a legally enforceable right to set off the recognized
amounts and where it intends either to settle on a net basis, or to realize the asset and liability simultaneously.
Current income tax relating to items recognised directly in equity is recognised in equity and not in the statement of profit or
loss. Management periodically evaluates positions taken in the tax returns with respect to situations in which applicable tax
regulations are subject to interpretation, and it establishes provisions where appropriate.
Deferred tax
Deferred income tax is recognized using the using the balance sheet approach. Deferred income tax assets and liabilities are
recognized for deductible and taxable temporary differences arising between the tax base of assets and liabilities and their
carrying amount in Consolidated Ind-AS Financial Statements, except when the deferred income tax arises from the initial
recognition of goodwill or an asset or liability in a transaction that is not a business combination and affects neither
accounting nor taxable profits or loss at the time of the transaction. Deferred income tax assets are recognized to the extent
it is probable that taxable profit will be available against which the deductible temporary differences and the carry forward of
unused tax credits and unused tax losses can be utilized.
The carrying amount of deferred income tax assets is reviewed at each reporting date and reduced to the extent that it is no
longer probable that sufficient taxable profit will be available to allow all or part of the deferred income tax asset to be utilized.
Deferred income tax assets and liabilities are measured at the tax rates that are expected to apply in the period when the
asset is realized or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted
at the reporting period.
Deferred tax relating to items recognised outside profit or loss is recognised outside profit or loss. Deferred tax items are
recognised in correlation to the underlying transaction either in OCI or directly in equity.
The Group offsets deferred income tax assets and liabilities, where it has a legally enforceable right to offset current tax
assets against current tax liabilities, and they relate to taxes levied by the same taxation authority on either the same taxable
entity, or on different taxable entities where there is an intention to settle the current tax liabilities and assets on a net basis
or their tax assets and liabilities will be realized simultaneously.
Sales/ value added/ Goods and Service taxes paid on acquisition of assets or on incurring expenses
Expenses and assets are recognised net of the amount of sales / value added / Goods and Services taxes paid, except:
- when the tax incurred on a purchase of assets or services is not recoverable from the taxation authority, in which case, the
tax paid is recognised as part of the cost of acquisition of the asset or as part of the expense item, as applicable,
- when receivables and payables are stated with the amount of tax included.
The net amount of tax recoverable from, or payable to, the taxation authority is included as part of receivables or payables in
the Consolidated Balance Sheet.
2.14 Contingencies
A contingent liability is:
A possible obligation that arises from past events and whose existence will be confirmed only by the occurrence or
non-occurrence of one or more uncertain future events not wholly within the control of the Group; or A present obligation
that arises from past events but is not recognised because:
(i) It is not probable that an outflow of resources embodying economic benefits will be required to settle the obligation; or
(ii) The amount of the obligation cannot be measured with sufficient reliability.
A contingent asset is a possible asset that arises from past events and whose existence will be confirmed only by the
occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the Group.
Contingent liabilities and assets are not recognised on the balance sheet of the Group, except for contingent liabilities
assumed in a business combination that are present obligations arising from past events and which the fair values can be
reliably determined.
A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that may, but
probably will not, require an outflow of resources. When there is a possible obligation or a present obligation in respect of
which the likelihood of outflow of resources is remote, no provision or disclosure is made.
2.15 Earnings / (loss) per share
Basic earnings per share is computed by dividing the profit/(loss) attributable to ordinary equity holders of the Group by
weighted average number of equity shares outstanding during the period adjusted for treasury shares held. Diluted earnings
per share is computed by dividing the profit/(loss) attributable to ordinary equity holders of the Group (after adjustment) using
the weighted-average number of equity shares considered for deriving basic earnings per share and weighted average
number of dilutive equivalent shares outstanding during the period, except where the results would be anti-dilutive. Dilutive
potential shares are deemed converted at the beginning of the period, unless issued at later date.
2.16 Segment reporting
The Group primarily engages in marketplace services operating an online portal on which third-party sellers sell products to
customers. The Board of Directors of the Group allocate the resources and assess the performance of the Group, thus are
the Chief Operating Decision Maker (CODM). The CODM monitors the operating results of the business as a single
segment, hence no separate segment needs to be disclosed. The Group does not distinguish revenues, costs and expenses
between different businesses in its internal reporting, and reports costs and expenses by nature as a whole. The Group
operates and manages its business as a single segment mainly through the sale of products and services. As the Group's
long-lived assets are all located in India and most of the Group's revenues are derived from India, no geographical
information is presented
2.17 Compulsorily Convertible and Cumulative Preference Shares (CCCPS)
Compulsorily Convertible and Cumulative Preference Shares (CCCPS) are classified as equity components based on the

41
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

terms of the contract. On issuance of the convertible preference shares, proceeds are allocated to the conversion option that
is recognised and included in equity since conversion option meets Ind-AS 32 criteria for fixed to fixed classification.
Transaction costs are deducted from equity, net of associated income tax. The carrying amount of the conversion option is
not remeasured in subsequent years. Transaction costs are allocated to equity components of the convertible preference
shares when the instruments are initially recognised.
2.18 Current and non-current classification
The Group presents assets and liabilities in the Consolidated Balance Sheet based on current/ non-current classification.
An asset is treated as current when it is:
- Expected to be realised or intended to be sold or consumed in normal operating cycle
- Held primarily for the purpose of trading
- Expected to be realised within twelve months after the reporting period, or
- Cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least twelve months after
the reporting period
All other assets are classified as non-current.
A liability is current when:
- It is expected to be settled in normal operating cycle
- It is held primarily for the purpose of trading
- It is due to be settled within twelve months after the reporting period, or
- There is no unconditional right to defer the settlement of the liability for at least twelve months after the reporting period
The terms of the liability that could, at the option of the counterparty, result in its settlement by the issue of equity instruments
do not affect its classification.
The Group classifies all other liabilities as non-current.
The operating cycle is the time between the acquisition of assets for processing and their realisation in cash and cash
equivalents. The Group has identified twelve months as its operating cycle.
2.19 Fair value measurement
A number of financial instruments are measured at fair value as of each reporting date after initial recognition. Fair value is
the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market
participants at the measurement date. The fair value of an asset or a liability is measured using the assumptions that market
participants would use when pricing the asset or liability, assuming that market participants act in their economic best interest
by using quoted market rates, discounted cash flow analyses and other appropriate valuation models. The Group uses
valuation techniques that are appropriate in the circumstances and for which sufficient data is available to measure fair
value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs. All assets and
liabilities for which fair values are being measured or disclosed in the Consolidated Ind-AS Financial Statements are
categorized within the fair value hierarchy, described as follows:
• Level 1– This level of hierarchy includes financial assets that are measured by reference to quoted prices (unadjusted) in
active markets for identical assets or liabilities.
• Level 2 – This level of hierarchy includes financial assets and liabilities, measured using inputs other than quoted prices
included within Level 1 that are observable for the asset or liability, either directly (i.e., as prices) or indirectly (i.e., derived
from prices); and
• Level 3 – This level of hierarchy includes financial assets and liabilities measured using inputs that are not based on
observable market data (unobservable inputs). Fair values are determined in whole or in part, using a valuation model based
on assumptions that are neither supported by prices from observable current market transactions in the same instrument nor
are they based on available market data.
For assets and liabilities that are recognised in the Consolidated Ind-AS Financial Statements on a recurring basis, the
Group determines whether transfers have occured between levels in the heirarchy by re-assessing categorisation (based on
the lowest level input that is significant to the fair value measurement as a whole) at the end of each reporting period.
2.20 Statement of Cash flow
Cash flow are reported using the indirect method, whereby profit/(loss) for the period is adjusted for the effects of
transactions of a non-cash nature, any deferrals or accruals of past or future operating cash receipts or payments and item of
income or expenses associated with investing or financing cash flow. The cash flow from operating, investing and financing
activities of the Group are segregated.
As per the amendment to Ind-AS 7, applicable with effect from April 1, 2017, the Group provides disclosures that enable
users of Consolidated Ind-AS Financial Statements to evaluate changes in liabilities arising from financing activities,
including both changes arising from cash flows and non-cash changes, suggesting inclusion of a reconciliation between the
opening and closing balances in the Consolidated Balance Sheet for liabilities arising from financing activities, to meet the
disclosure requirement. The Group has provided the information for the current year in note 9.
2.21 Significant accounting estimates and judgements
The preparation of the Group's Consolidated Financial Statements in conformity with Ind-AS requires management to make
judgements, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, and
the grouping disclosures, and the disclosure of contingent liabilities at the reporting period. Actual results may differ from
those estimates.
Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized
in the period in which the estimates are revised if the revision affects only that period or in the period of the revision and
future periods if the revision affects both current and future periods. In particular, information about significant areas of
estimation, uncertainty and critical judgments in applying accounting policies that have the most significant effect on the
amounts recognized in the Consolidated Ind-AS Financial Statements are included in the following notes:
(a) Impairment of non-financial assets
The Group assesses whether there are any indicators of impairment for all non-financial assets at each reporting date.
Goodwill and other intangible assets with indefinite economic lives are tested for impairment annually and at other times
when such indicators exist.

42
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

An asset's recoverable amount is the higher of an asset's or cash-generating unit's fair value less costs of disposal and its
value in use and is determined for an individual asset, unless the asset does not generate cash inflow that are largely
independent of those from other assets or Group's of assets. Where the carrying amount of an asset or cash-generating unit
exceeds its recoverable amount, the asset is considered impaired and is written down to its recoverable amount. In
assessing value in use, the estimated future cash flow are discounted to their present value using a pre-tax discount rate that
reflects current market assessments of the time value of money and the risks specific to the asset. In determining fair value
less costs of disposal, recent market transactions are taken into account, if available. If no such transactions can be
identified, an appropriate valuation model is used. These calculations are corroborated by valuation multiples or other
available fair value indicators.

43
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Impairment losses are recognised in Consolidated Statement of Profit and Loss in those expense categories consistent with
the nature of the impaired asset. Other non-financial assets are tested for impairment when there are indicators that the
carrying amounts may not be recoverable.
(b) Impairment of financial assets
On application of Ind-AS 109, the impairment provisions of financial assets are based on assumptions about risk of default
and expected timing of collection. The Group uses judgment in making these assumptions and selecting the inputs to the
impairment calculation, based on the Group's past history, customer’s credit-worthiness, existing market conditions as well
as forward looking estimates at the end of each reporting period.
(c) Deferred tax Assets
The recognition of deferred tax assets is based on management’s judgement regarding the likelihood of future taxable profits
and the timing and extent to which deferred tax assets can be utilised. This assessment involves the use of estimates and
assumptions about future operating performance, future taxable income, and relevant tax laws.
(d) Other estimates
The preparation of Consolidated Ind-AS Financial Statements involves estimates and assumptions that affect the reported
amount of assets, liabilities, disclosure of contingent liabilities at the date of Consolidated Ind-AS Financial Statements and
the reported amount of revenues and expenses for the reporting period. Specifically, the Group estimates the
un-collectability of accounts receivable by analysing historical payment patterns, customer concentrations, customer
credit-worthiness and current economic trends. If the financial condition of a customer deteriorates, additional allowances
may be required.
Identification of related party relationship and transactions requiring disclosures under Ind AS 24 and other applicable
requirements of Ind AS involves exercise of judgment. In determining group companies/ fellow subsidiaries with whom the
Group has related party transactions requiring disclosure, management has considered factors such as shareholding and/ or
board control exercised by the parent company, ultimate parent company or other group entities. Based on the related party
relationship identified by the management as on reporting date, related party transactions that took place during the year and
the balances existing as of the reporting date are disclosed in these Consolidated Ind-As Financial Statements
2.22 Events occuring after the reporting date
If the Group recieves information after the reporting period, but prior to the date of approved for issue, about conditions that
existed at the end of the reporting period, it will assess whether the information affects the amount that it recognises in its
Consolidated Ind-AS Financial Statements. The Group will adjust the amounts recognised in its Consolidated Ind-AS
Financial Statements to reflect any adjusting events after the reporting period and update the disclosures that relate to those
conditions in light of the new information. For non-adjusting events after the reporting period, the Group will not change the
amounts recognised in its Consolidated Ind-AS Financial Statements but will disclose the nature of the non-adjusting events
and an estimate of its financial effect, or a statement that such an estimate cannot be made, if applicable.
2.23 New and amended standards and interpretations
The Ministry of Corporate Affairs has notified Companies (Indian Accounting Standard) Amendment Rules 2023 dated March
31, 2023, to amend the following Ind-AS which are effective on or after April 01, 2024. The Group has not early adopted any
other standard, interpretation or amendment that has been issued but is not yet effective.
(i) Ind AS 117 Insurance Contracts
The Ministry of Corporate Affairs (MCA) notified the Ind AS 117, Insurance Contracts, vide notification dated August 12,
2024, under the Companies (Indian Accounting Standards) Amendment Rules, 2024, which is effective from annual reporting
periods beginning on or after April 1, 2024.
Ind AS 117 Insurance Contracts is a comprehensive new accounting standard for insurance contracts covering recognition
and measurement, presentation and disclosure. Ind AS 117 replaces Ind AS 104 Insurance Contracts. Ind AS 117 applies to
all types of insurance contracts, regardless of the type of entities that issue them as well as to certain guarantees and
financial instruments with discretionary participation features; a few scope exceptions will apply. Ind AS 117 is based on a
general model, supplemented by:
• A specific adaptation for contracts with direct participation features (the variable fee approach)
• A simplified approach (the premium allocation approach) mainly for short-duration contracts
The application of Ind AS 117 does not have material impact on the Group’s Consolidated Ind-AS Financial Statements as
the Group has not entered any contracts in the nature of insurance contracts covered under Ind AS 117.
(ii) Amendments to Ind AS 116 Leases – Lease Liability in a Sale and Leaseback
The MCA notified the Companies (Indian Accounting Standards) Second Amendment Rules, 2024, which amend Ind AS
116, Leases, with respect to Lease Liability in a Sale and Leaseback.
The amendment specifies the requirements that a seller-lessee uses in measuring the lease liability arising in a sale and
leaseback transaction, to ensure the seller-lessee does not recognise any amount of the gain or loss that relates to the right
of use it retains.
The amendment is effective for annual reporting periods beginning on or after April 1, 2024 and must be applied
retrospectively to sale and leaseback transactions entered into after the date of initial application of Ind AS 116.
The amendments do not have a material impact on the Group’s Consolidated Ind-AS Financial Statements.
2.24 Standards notified but not yet effective:
Ind-AS 7 and Ind-AS 107 - Supplier Finance Arrangements - Disclosures which clarify the characteristics of supplier finance
arrangements and require additional disclosure of such arrangements.
Ind-AS 1 - Classification of Liabilities as Current or Non-current - Specifying the requirements for classifying liabilities as
current or non-current.
The above standards are not yet issued by MCA, and the management will be assessing the impact of the same as and
when the same are notified by MCA.

44
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

[610200] Notes - Corporate information and statement of IndAs compliance

Unless otherwise specified, all monetary values are in Millions of INR
01/04/2024 01/04/2023
to to
31/03/2025 31/03/2024
Disclosure of corporate information notes and other explanatory information
[TextBlock]
Textual information (3) Textual information (4)
Statement of Ind AS compliance [TextBlock] [See below] [See below]
Whether there is any departure from Ind AS No No
Whether there are reclassifications to comparative amounts No No

Refer to
"Disclosure of
Textual information (5)
Disclosure of significant accounting policies [TextBlock] [See below]
significant accounting
policies Text Bock"
2024-25

45
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Textual information (3)

Statement of Ind AS compliance [Text Block]

1.2 Basis of consolidation
The Consolidated Ind-AS Financial Statements comprise the Financial Statements of the Group as at March 31, 2025 and
the share of profits/losses of its Associates.
Control is achieved when the group is exposed, or has rights, to variable returns from its involvement with the investee and
has the ability to affect those returns through its power over the investee. Specifically, the Group controls an investee if and
only if the Group has:
a. Power over the investee (i.e., existing rights that give it the current ability to direct the relevant activities, which significantly
affect the Group’s returns)
b. Exposure, or rights, to variable returns from its involvement with the investee, and
c. The ability to use its power over the investee to affect its returns.
Generally, there is a presumption that a majority of voting rights result in control. To support this presumption and when the
Group has less than a majority of the voting or similar rights of an investee, the Group considers all relevant facts and
circumstances in assessing whether it has power over an investee, including:
- The contractual arrangement with the other vote holders of the investee
- Rights arising from other contractual arrangements
- The Group's voting rights and potential voting rights
The Group reassesses whether or not it controls an investee if facts and circumstances indicate that there are changes to
one or more of the three elements listed above.
Consolidation of a material subsidiary begins when the Group obtains control over the subsidiary and ceases when the
Group loses control of the subsidiary. Assets, liabilities, income and expenses of a subsidiary acquired or disposed of during
the year are included in the Consolidated Ind AS Financial Statements from the date the Group gains control until the date
the Group ceases to control the subsidiary.
Non-controlling interest is the equity in a subsidiary not attributed to the owners of the parent and is presented separately.
Profit or loss and each component of other comprehensive income are attributed to the owners of the parent and to the
non-controlling interests, even if this results in the non-controlling interests having a deficit balance. When necessary,
adjustments are made to the financial statement of subsidiary to bring their accounting policies in line with the Group’s
accounting policies. All-intra-group assets and liabilities, equity, income, expenses and cash flows relating to the transactions
between members of the Group are eliminated in full on consolidation.
Notwithstanding the above, the Group has excluded certain variable interest entities as covered in IFRS 12 from
consolidation as they are not material to these Consolidated Ind-AS financial statements.

Consolidation procedure:
(a) Combine like items of assets, liabilities, equity, income, expenses and cash flows of the parent with those of its
subsidiary. For this purpose, income and expenses of the subsidiary are based on the amounts of the assets and liabilities
recognised in the Consolidated Ind-AS Financial Statements at the acquisition date.
(b) Offset (eliminate) the carrying amount of the parent’s investment in each subsidiary and the parent’s portion of equity of
each subsidiary. Business combinations policy explains how to account for any related goodwill.
(c) Eliminate in full intra-group assets and liabilities, equity, income, expenses and cash flows relating to transactions
between entities of the group (profits or losses resulting from intra-group transactions that are recognised in assets, such as
inventory and property plant and equipments, are eliminated in full). Intra-group losses may indicate an impairment that
requires recognition in the Consolidated Ind-AS Financial Statements. Ind-AS 12 Income Taxes applies to temporary
differences that arise from the elimination of profits and losses resulting from intra-group transactions.
Profit or loss and each component of other comprehensive income (OCI) are attributed to the equity holders of the parent of
the Group and to the non-controlling interests, even if this results in the non-controlling interests having a deficit balance.
A change in the ownership interest of a subsidiary, without a loss of control, is accounted for as an equity transaction. If the
Group loses control over a subsidiary, it:
- Derecognises the assets (including goodwill) and liabilities of the subsidiary
- Derecognises the carrying amount of any non-controlling interests
- Derecognises the cumulative translation differences recorded in equity
- Recognises the fair value of the consideration received
- Recognises the fair value of any investment retained
- Recognises any surplus or deficit in profit or loss
- Reclassifies the parent’s share of components previously recognised in OCI to profit or loss or retained earnings, as
appropriate, as would be required if the Group had directly disposed of the related assets or liabilities
- Changes in a parent’s ownership interest in a subsidiary that do not result in the parent losing control of the subsidiary are
equity transactions (i.e. transactions with owners in their capacity as owners) in accordance with Ind-AS 110 Consolidation of
Financial Statements.

46
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Textual information (4)

Statement of Ind AS compliance [Text Block]

1.2 Basis of consolidation
The Consolidated Ind-AS Financial Statements comprise the Financial Statements of the Group as at March 31, 2025 and
the share of profits/losses of its Associates.
Control is achieved when the group is exposed, or has rights, to variable returns from its involvement with the investee and
has the ability to affect those returns through its power over the investee. Specifically, the Group controls an investee if and
only if the Group has:
a. Power over the investee (i.e., existing rights that give it the current ability to direct the relevant activities, which significantly
affect the Group’s returns)
b. Exposure, or rights, to variable returns from its involvement with the investee, and
c. The ability to use its power over the investee to affect its returns.
Generally, there is a presumption that a majority of voting rights result in control. To support this presumption and when the
Group has less than a majority of the voting or similar rights of an investee, the Group considers all relevant facts and
circumstances in assessing whether it has power over an investee, including:
- The contractual arrangement with the other vote holders of the investee
- Rights arising from other contractual arrangements
- The Group's voting rights and potential voting rights
The Group reassesses whether or not it controls an investee if facts and circumstances indicate that there are changes to
one or more of the three elements listed above.
Consolidation of a material subsidiary begins when the Group obtains control over the subsidiary and ceases when the
Group loses control of the subsidiary. Assets, liabilities, income and expenses of a subsidiary acquired or disposed of during
the year are included in the Consolidated Ind AS Financial Statements from the date the Group gains control until the date
the Group ceases to control the subsidiary.
Non-controlling interest is the equity in a subsidiary not attributed to the owners of the parent and is presented separately.
Profit or loss and each component of other comprehensive income are attributed to the owners of the parent and to the
non-controlling interests, even if this results in the non-controlling interests having a deficit balance. When necessary,
adjustments are made to the financial statement of subsidiary to bring their accounting policies in line with the Group’s
accounting policies. All-intra-group assets and liabilities, equity, income, expenses and cash flows relating to the transactions
between members of the Group are eliminated in full on consolidation.
Notwithstanding the above, the Group has excluded certain variable interest entities as covered in IFRS 12 from
consolidation as they are not material to these Consolidated Ind-AS financial statements.

Consolidation procedure:
(a) Combine like items of assets, liabilities, equity, income, expenses and cash flows of the parent with those of its
subsidiary. For this purpose, income and expenses of the subsidiary are based on the amounts of the assets and liabilities
recognised in the Consolidated Ind-AS Financial Statements at the acquisition date.
(b) Offset (eliminate) the carrying amount of the parent’s investment in each subsidiary and the parent’s portion of equity of
each subsidiary. Business combinations policy explains how to account for any related goodwill.
(c) Eliminate in full intra-group assets and liabilities, equity, income, expenses and cash flows relating to transactions
between entities of the group (profits or losses resulting from intra-group transactions that are recognised in assets, such as
inventory and property plant and equipments, are eliminated in full). Intra-group losses may indicate an impairment that
requires recognition in the Consolidated Ind-AS Financial Statements. Ind-AS 12 Income Taxes applies to temporary
differences that arise from the elimination of profits and losses resulting from intra-group transactions.
Profit or loss and each component of other comprehensive income (OCI) are attributed to the equity holders of the parent of
the Group and to the non-controlling interests, even if this results in the non-controlling interests having a deficit balance.
A change in the ownership interest of a subsidiary, without a loss of control, is accounted for as an equity transaction. If the
Group loses control over a subsidiary, it:
- Derecognises the assets (including goodwill) and liabilities of the subsidiary
- Derecognises the carrying amount of any non-controlling interests
- Derecognises the cumulative translation differences recorded in equity
- Recognises the fair value of the consideration received
- Recognises the fair value of any investment retained
- Recognises any surplus or deficit in profit or loss
- Reclassifies the parent’s share of components previously recognised in OCI to profit or loss or retained earnings, as
appropriate, as would be required if the Group had directly disposed of the related assets or liabilities
- Changes in a parent’s ownership interest in a subsidiary that do not result in the parent losing control of the subsidiary are
equity transactions (i.e. transactions with owners in their capacity as owners) in accordance with Ind-AS 110 Consolidation of
Financial Statements.

47
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Textual information (5)

Disclosure of significant accounting policies [Text Block]

1. Corporate information
Myntra Designs Private Limited (herein after referred to as "the Company"') CIN:U72300KA2007PTC041799M was
incorporated on February 16, 2007, as a Private Limited Company under the Companies Act, 2013. The Company engages
in marketplace services operating an online portal - [Link] and mobile application - on which third-party sellers
sell products to customers. The holding company is FK Myntra Holdings Private Limited, Singapore , the Intermediate
Holding Company is Flipkart Private Limited, Singapore and the Ultimate Holding Company is Walmart Inc., U.S.A (w.e.f.
August 18, 2018). The Company is domiciled and incorporated in Bengaluru. The registered office of the Company is located
at Buildings Alyssa, Begonia & Clover, Embassy Tech Village, Outer Ring Road, Devarabeesanahalli Village, Bangalore,
India.
The Consolidated Ind-As Financial Statements comprise Financial Statements of Myntra Designs Private Limited (the
"Company"), its subsidiary (collectively, the 'Group') and its associates for the year ended March 31, 2025.
The Consolidated Ind-AS Financial Statements of the Group were authorised for issue in accordance with a resolution of the
directors on June 30, 2025.

The subsidiaries and associates included in the Consolidated Ind-AS Financial Statements are as under:-

Country of Proportion of Date of acquisition/

Name of the Company Relationship
incorporation ownership incorporation
March 31, 2025 March 31, 2024
January 3,
Myntra Inc. USA Associate 41.05% 41.05%
2013
XS Brands Consultancy Private August 5,
India Subsidiary 51% 51%
Limited 2016
Wrogn Private Limited (formerly
November 19,
known as Universal Sportsbiz India Associate 2.53% 3.33%
2020
Private Limited)

1.1. Statement of compliance and basis of preparation

The Consolidated Ind-AS Financial Statements have been prepared in accordance with Indian Accounting Standards
(Ind-AS) and the provisions of the Companies Act, 2013 ("Act") (to the extent notified). The Ind-AS are prescribed under
Section 133 of the Act read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015, as amended from time
to time and presentation requirements of Division II of Schedule III to the Companies Act, 2013, (Ind AS compliant Schedule
III), as applicable to the Consolidated Ind-AS Financial Statements.
The Consolidated Ind-AS Financial Statements are presented in Indian Rupees (INR or Rs.) and all values in the tables are
reported in millions of Indian rupees (Rupees in millions ('Mn') except share data, unless otherwise stated. Certain notes and
disclosures in the Consolidated Ind-AS Financial Statements have been represented as Zero ("0"), where the absolute
amount is below the rounding off norms adopted by the Group.
The Consolidated Ind-AS Financial Statements have been prepared on going concern basis. Accounting policies have been
consistently applied except where a newly issued accounting standard is initially adopted or a revision to an existing
accounting standard requires a change in the accounting policy in use.

1.2 Basis of consolidation

The Consolidated Ind-AS Financial Statements comprise the Financial Statements of the Group as at March 31, 2025 and
the share of profits/losses of its Associates.
Control is achieved when the group is exposed, or has rights, to variable returns from its involvement with the investee and
has the ability to affect those returns through its power over the investee. Specifically, the Group controls an investee if and
only if the Group has:
a. Power over the investee (i.e., existing rights that give it the current ability to direct the relevant activities, which significantly
affect the Group’s returns)
b. Exposure, or rights, to variable returns from its involvement with the investee, and
c. The ability to use its power over the investee to affect its returns.
Generally, there is a presumption that a majority of voting rights result in control. To support this presumption and when the
Group has less than a majority of the voting or similar rights of an investee, the Group considers all relevant facts and
circumstances in assessing whether it has power over an investee, including:
- The contractual arrangement with the other vote holders of the investee
- Rights arising from other contractual arrangements
- The Group's voting rights and potential voting rights
The Group reassesses whether or not it controls an investee if facts and circumstances indicate that there are changes to
one or more of the three elements listed above.

48
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Consolidation of a material subsidiary begins when the Group obtains control over the subsidiary and ceases when the

49
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Group loses control of the subsidiary. Assets, liabilities, income and expenses of a subsidiary acquired or disposed of during
the year are included in the Consolidated Ind AS Financial Statements from the date the Group gains control until the date
the Group ceases to control the subsidiary.
Non-controlling interest is the equity in a subsidiary not attributed to the owners of the parent and is presented separately.
Profit or loss and each component of other comprehensive income are attributed to the owners of the parent and to the
non-controlling interests, even if this results in the non-controlling interests having a deficit balance. When necessary,
adjustments are made to the financial statement of subsidiary to bring their accounting policies in line with the Group’s
accounting policies. All-intra-group assets and liabilities, equity, income, expenses and cash flows relating to the transactions
between members of the Group are eliminated in full on consolidation.
Notwithstanding the above, the Group has excluded certain variable interest entities as covered in IFRS 12 from
consolidation as they are not material to these Consolidated Ind-AS financial statements.

Consolidation procedure:
(a) Combine like items of assets, liabilities, equity, income, expenses and cash flows of the parent with those of its
subsidiary. For this purpose, income and expenses of the subsidiary are based on the amounts of the assets and liabilities
recognised in the Consolidated Ind-AS Financial Statements at the acquisition date.
(b) Offset (eliminate) the carrying amount of the parent’s investment in each subsidiary and the parent’s portion of equity of
each subsidiary. Business combinations policy explains how to account for any related goodwill.
(c) Eliminate in full intra-group assets and liabilities, equity, income, expenses and cash flows relating to transactions
between entities of the group (profits or losses resulting from intra-group transactions that are recognised in assets, such as
inventory and property plant and equipments, are eliminated in full). Intra-group losses may indicate an impairment that
requires recognition in the Consolidated Ind-AS Financial Statements. Ind-AS 12 Income Taxes applies to temporary
differences that arise from the elimination of profits and losses resulting from intra-group transactions.
Profit or loss and each component of other comprehensive income (OCI) are attributed to the equity holders of the parent of
the Group and to the non-controlling interests, even if this results in the non-controlling interests having a deficit balance.
A change in the ownership interest of a subsidiary, without a loss of control, is accounted for as an equity transaction. If the
Group loses control over a subsidiary, it:
- Derecognises the assets (including goodwill) and liabilities of the subsidiary
- Derecognises the carrying amount of any non-controlling interests
- Derecognises the cumulative translation differences recorded in equity
- Recognises the fair value of the consideration received
- Recognises the fair value of any investment retained
- Recognises any surplus or deficit in profit or loss
- Reclassifies the parent’s share of components previously recognised in OCI to profit or loss or retained earnings, as
appropriate, as would be required if the Group had directly disposed of the related assets or liabilities
- Changes in a parent’s ownership interest in a subsidiary that do not result in the parent losing control of the subsidiary are
equity transactions (i.e. transactions with owners in their capacity as owners) in accordance with Ind-AS 110 Consolidation of
Financial Statements.
1.3 Basis of measurement
The Consolidated Ind-AS Financial Statements have been prepared on a historical cost basis and on an accrual basis,
except for the following assets and liabilities which have been measured at fair value as required by relevant Ind-AS;
(i) Certain financial assets and liabilities measured at fair value (refer accounting policy regarding financial instruments),
(ii) The defined benefit liability are recognized as the present value of defined benefit obligation less fair value of plan assets.

2. Summary of material accounting policies

2.1.(a) Goodwill
Goodwill represents the excess of the purchase price over the fair value of the identifiable assets and liabilities acquired in a
business combination. If the excess is negative, a bargain purchase gain is recognized immediately in Other Comprehensive
Income ("OCI") and accumulated in equity as capital reserve.
Goodwill is tested for impairment at least annually and when events occur or changes in circumstances indicate that the
recoverable amount of the cash generating unit is less than its carrying value. The goodwill impairment test is performed at
the level of cash-generating unit or groups of cash-generating units which represent the lowest level at which goodwill is
monitored for internal management purposes. The recoverable amount of the CGU is measured based on its value in use.
The value in use is determined based on discounted cash flow projections.
Where the recoverable amount of the cash-generating unit is less than the carrying amount, an impairment loss is
recognized in Consolidated Statement of Profit and Loss. Impairment losses recognized for goodwill are not reversed in
subsequent periods.

2.1.(b) Investment in associates

An associate is an entity over which the Group has significant influence. Significant influence is the power to participate in
the financial and operating policy decisions of the investee, but not control over those policies. The Group’s investments in its
associate are accounted at cost, net of impairment, if any.
The considerations made in determining whether significant influence is similar to those necessary to determine control over
the subsidiary.
The Group reviews its carrying value of investments carried at cost annually, or more frequently when there is indication for
impairment. If the recoverable amount is less than its carrying amount, the impairment loss is recorded in the Consolidated

50
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Statement of Profit and Loss.

51
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

When an impairment loss subsequently reverses, the carrying amount of the Investment is increased to the revised estimate
of its recoverable amount, so that the increased carrying amount does not exceed the cost of the Investment. A reversal of
an impairment loss is recognised immediately in Consolidated Statement of Profit or Loss.
The Group’s investments in its associate are accounted for using the equity method. Under the equity method, the
investment in an associate is initially recognised at cost. The carrying amount of the investment is adjusted to recognise
changes in the Group’s share of net assets of the associate since the acquisition date. Goodwill relating to the associate is
included in the carrying amount of the investment and is not tested for impairment individually.
The Consolidated Statement of Profit and Loss reflects the Group’s share of the results of operations of the associates. Any
change in OCI of those investees is presented as part of the Group’s OCI. In addition, when there has been a change
recognised directly in the equity of the associates, the Group recognises its share of any changes, when applicable, in the
consolidated statement of changes in equity. Unrealised gains and losses resulting from transactions between the Group and
the associates are eliminated to the extent of the interest in the associates.
If an entity’s share of losses of an associate equals or exceeds its interest in the associate (which includes any long term
interest that, in substance, form part of the Group’s net investment in the associate), the entity discontinues recognising its
share of further losses. Additional losses are recognised only to the extent that the Group has incurred legal or constructive
obligations or made payments on behalf of the associate. If the associate subsequently reports profits, the entity resumes
recognising its share of those profits only after its share of the profits equals the share of losses not recognised.
The aggregate of the Group’s share of profit or loss of an associate is shown on the face of the Consolidated Statement of
Profit and Loss. The Ind-AS Financial Statements of the associates are prepared for the same reporting period as the Group.
When necessary, adjustments are made to bring the accounting policies in line with those of the Group.
After application of the equity method, the Group determines whether it is necessary to recognise an impairment loss on its
investment in its associates. At each reporting date, the Group determines whether there is objective evidence that the
investment in the associates is impaired. If there is such evidence, the Group calculates the amount of impairment as the
difference between the recoverable amount of the associates and its carrying value, and then recognises the loss as ‘Share
of loss/ profit of the associates’ in the Consolidated Statement of Profit and Loss.

Upon loss of significant influence over the associate, the Group measures and recognises any retained investment at its fair
value. Any difference between the carrying amount of the associates upon loss of significant influence and the fair value of
the retained investment and proceeds from disposal is recognised in the Consolidated Statement of Profit and Loss.
The Company has accounted for its Investment in subsidiaries at cost less impairment loss, (if any).
2.2 Functional and Foreign currency
Functional and presentation currency
Management has determined the currency of the primary economic environment in which the entity resides in and operates
as the functional currency. The functional currency of the Group is Indian Rupees (Rs). The Consolidated Ind-AS Financial
Statements have been presented in Rs millions, as it best represents the operating business performance and underlying
transactions.
Transactions and balances
Transactions in foreign currencies are measured in the functional currency of the Group and are recorded on initial
recognition in the functional currency at exchange rates prevailing at the transaction dates. Monetary assets and liabilities
denominated in foreign currencies are translated at the rate of exchange ruling at the end of the reporting year.
Differences arising on settlement or translation of monetary items are recognised in the Consolidated Statement of Profit and
Loss.

2.2 Property, plant and equipment

(a) Recognition and measurement
All items of Property, plant and equipment are initially measured at cost and subsequently it is measured at cost less
accumulated depreciation and impairment losses, if any. Costs include expenditures directly attributable to the acquisition of
assets. The cost of an item of Property, plant and equipment is recognised as an asset, if and only if, it is probable that future
economic benefits associated with the item will flow to the Group and the cost of the item can be measured reliably. When
significant parts of Property, plant and equipment are required to be replaced in intervals, the Group recognises such parts
as individual assets with specific useful lives and depreciation, respectively. Any subsequent cost incurred is recognised in
the carrying amount of the Property, plant and equipment as a replacement if the recognition criteria are satisfied. All other
repair and maintenance costs are recognised in Consolidated Statement of Profit and Loss as incurred.
(b) Depreciation
The Group depreciates property, plant and equipment over the estimated useful life on a straight-line basis from the date the
assets are available for use. Leasehold improvements are amortised over the estimated useful life of 7 years or the lease
period, whichever is lower.
Depreciation is not recorded on capital work-in-progress until construction and installation are complete and the asset is
ready for its intended use.
The residual value, estimated useful life and method of depreciation of property, plant and equipment are reviewed at each
financial year and adjusted prospectively, if appropriate. The estimated useful lives of the assets are as follows:

Nature of Assets Estimated Useful Life (Yrs.)

Computers 3 Years
Computer Servers (Included in Computers) 5 Years
Office equipment 5 Years

52
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Furniture and fixtures 5 Years

Plant and machinery 5 Years
Leasehold Improvements 7 years or lease term whichever is lower

The Group, based on technical assessment made by technical expert and management estimate, depreciates the certain
items of plant and equipment over estimated useful lives which are different from the useful life prescribed in Schedule II to
the Companies Act, 2013. The management believes that these estimated useful lives are realistic and reflect fair
approximation of the period over which the assets are likely to be used.
The carrying values of property, plant and equipment are reviewed for impairment when events or changes in circumstances
indicate that the carrying value may not be recoverable.
An item of Property, plant and equipment is derecognised upon disposal or when no future economic benefits are expected
from its use or disposal. Any gain or loss on de-recognition of the asset is included in the Consolidated Statement of Profit
and Loss in the year the asset is derecognised.
Intangible Assets
Intangible assets acquired in business combination are measured at fair value as at the date of acquisition. Following initial
recognition, intangible assets are carried at cost less any accumulated amortization and impairment losses, if any.
Intangible assets with indefinite useful lives or not yet available are not amortized, but instead tested for impairment annually.
Intangible assets with finite lives are amortized over the estimated useful life and assessed for impairment whenever there is
an indication that the intangible asset may be impaired. The amortization period and the amortization method for an
intangible asset with a finite useful life are reviewed at least at the end of each reporting period. Changes in the expected
useful life or the expected pattern of consumption of future economic benefits embodied in the asset is accounted for by
changing the amortisation period or method, as appropriate, and are treated as changes in accounting estimates. The
amortization expense on intangible assets with finite lives is recognized in the Consolidated Statement of Profit and Loss in
the expense category consistent with the nature of the intangible assets.
Gains or losses arising from de-recognition of an intangible asset are measured as the difference between the net disposal
proceeds and the net carrying amount of the asset and are recognised in Consolidated Statement of Profit and Loss when
the asset is derecognised.
The useful lives of the intangible assets assessed by the management are as follows and these are amortised on a straight
line basis over the period of the assets.

Nature of Assets Estimated Useful Life (Yrs.)

Computer software 2-3 Years
Trademark 3-15 Years
Internally generated software 3 Years
Brands acquired Indefinite life

2.4 Financial Instruments

A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity
instrument of another entity. Financial instruments in the form of financial assets and financial liabilities are generally
presented separately. Financial instruments are recognized on the Consolidated Balance Sheet when the Group becomes a
party to the contractual provisions of the instrument.
Upon initial recognition, financial instruments are measured at fair value. Transaction costs directly attributable to the
acquisition or issue of financial instruments are recognized in determining the carrying amount, if it is not classified as at fair
value through profit or loss. Subsequently, financial instruments are measured according to the category in which they are
classified.
The Group recognises its investments in associates at cost less any impairment losses. The said investments are tested for
impairment, at-least annually and whenever circumstances indicate that their carrying values may exceed the recoverable
amount (viz. higher of the fair value less costs to sell and the value-in-use).
Financial assets are classified into following categories:
- Financial assets carried at amortized cost
- Financial assets at fair value through profit or loss (FVTPL)
Financial liabilities are classified into financial liabilities at fair value through profit or loss.
Financial assets
Financial assets primarily comprise of trade receivables, other financial assets, cash and bank balances and investments.
Subsequent measurement
The subsequent measurement of financial assets depends on their classification as follows:
Financial assets carried at amortized cost
A financial asset is subsequently measured at amortized cost if it meets both the following criteria:
(i) the asset is held within a business model whose objective is to hold the asset to collect contractual cash flow, and
(ii) the contractual terms of the financial assets give rise on a specified date to cash flows that are solely payments of
principal and interest on the principal outstanding.
Financial assets at fair value through profit or loss (FVTPL) :
A financial asset which does not meet the amortized cost or FVTOCI criteria is measured as FVTPL. Financial assets at
FVTPL are measured at fair value at the end of each reporting period, with any gains or losses on re-measurement

53
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

recognized in Consolidated Statement of Profit and Loss. The gain or loss on disposal is recognized in the Consolidated
Statement of Profit and Loss. Interest income earned on FVTPL instruments are recognized in Consolidated Statement of
Profit and Loss.
Financial liabilities:
Financial liabilities primarily include trade payables, borrowings, lease liabilities, derivative financial liabilities and other
liabilities.
Financial liabilities measured at amortized cost
After initial recognition, financial liabilities are subsequently measured at amortized cost using the effective interest method.
For trade and other payables, the carrying amounts approximate fair value due to the short term maturity of these
instruments.
Derivative financial instruments
All derivatives are recognized initially at fair value on the date a derivative contract is entered into and subsequently
re-measured at fair value. Embedded derivatives are separated from the host contract and accounted for separately if they
are not closely related to the host contract. The Group measures all derivative financial instruments based on fair values
derived from market prices of the instruments or from option pricing models, as appropriate. Changes in the fair value of any
derivative instruments that do not qualify for hedge accounting are recognized immediately in the Consolidated Statement of
Profit and Loss, except for derivatives that are highly effective and qualify for cash flow or net investment hedge accounting.
De-recognition of financial assets and liabilities
The Group derecognizes a financial asset only when the contractual rights to the cash flows from the asset expires or it
transfers the financial asset and substantially all the risks and rewards of ownership of the asset to another entity. If the
Group neither transfers nor retains substantially all the risks and rewards of ownership and continues to control the
transferred asset, the Group recognizes its retained interest in the asset and an associated liability for amounts it may have
to pay. If the Group retains substantially all the risks and rewards of ownership of a transferred financial asset, the Group
continues to recognize the financial asset and also recognizes a collateralized borrowing for the proceeds received.
On de-recognition of a financial asset measured at amortized cost, the difference between the asset's carrying amount and
the sum of the consideration received and receivable is recognized in the Consolidated Statement of Profit and Loss. In
addition, on de-recognition of an investment in a debt instrument classified as at FVTOCI, the cumulative gain or loss
previously accumulated in the investments revaluation reserve is reclassified to profit or loss. In contrast, on de-recognition
of an investment in equity instrument which the Group has elected on initial recognition to measure at FVTOCI, the
cumulative gain or loss previously accumulated in the investments revaluation reserve is not reclassified to Consolidated
Statement of Profit and Loss, but is transferred to retained earnings.
The Group derecognizes financial liabilities when, and only when, the Group's obligations are discharged, cancelled or they
expire. The difference between the carrying amount of the financial liability derecognized and the consideration paid and
payable, including any non-cash assets transferred or liabilities assumed, is recognized in the Consolidated Statement of
Profit and Loss.
Offsetting of financial instruments
Financial assets and financial liabilities are offset with the net amount reported in the balance sheet only if there is a current
enforceable legal right to offset the recognized amounts and an intent to settle on a net basis, or to realize the assets and
settle the liabilities simultaneously.
2.5 Impairment
Financial assets
Ind-AS 109 requires the Group to record expected credit losses on all of its debt securities, loans and receivables, either on
a 12-month or life time expected credit losses. The Group recognizes loss allowances using the Expected Credit Loss (ECL)
model for the financial assets which are not fair valued through profit or loss. Loss allowance for trade receivable with no
significant financing component is measured at an amount equal to life time ECL. For all other financial assets, ECL are
measured at an amount equal to 12-month ECL, unless there is a significant increase in the credit risk from initial recognition
in which case those are measured at lifetime ECL. The amount of expected credit losses (or reversal) that is required to
adjust the loss allowance at the reporting date to the amount that is required to be recognized as an impairment gain or loss
in Consolidated Statement of Profit and Loss.
Non-financial assets
The Group assesses whether there are any indicators of impairment for all non-financial assets at each reporting date.
Goodwill and other intangible assets with indefinite economic lives are tested for impairment annually and at other times
when such indicators exist.
An asset's recoverable amount is the higher of an asset's or cash-generating unit's fair value less costs of disposal and its
value in use and is determined for an individual asset, unless the asset does not generate cash inflows that are largely
independent of those from other assets or Company's of assets. Where the carrying amount of an asset or cash-generating
unit exceeds its recoverable amount, the asset is considered impaired and is written down to its recoverable amount. In
assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate
that reflects current market assessments of the time value of money and the risks specific to the asset. In determining fair
value less costs of disposal, recent market transactions are taken into account, if available. If no such transactions can be
identified, an appropriate valuation model is used. These calculations are corroborated by valuation multiples or other
available fair value indicators.
Impairment losses are recognised in Consolidated Statement of Profit and Loss in those expense categories consistent with
the nature of the impaired asset. Other non-financial assets are tested for impairment when there are indicators that the
carrying amounts may not be recoverable.
2.6 Cash and cash equivalents
Cash and cash equivalents comprise cash at banks and on hand, demand deposits, and short-term with original maturity
less than 3 months, overnight mutual funds that are readily convertible to known amount of cash and which are subject to an

54
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

insignificant risk of changes in value.

2.7 Restricted cash
Cash that is restricted as to withdrawal for use or pledged as security is reported separately under other assets, and is not
included in the total cash and cash equivalents in the Consolidated Statement of Cash Flow. The Group’s restricted cash
mainly represents (a) the secured deposits held in designated bank accounts for which bank guarantee has been issued/
utilised; (b) time deposits that are pledged for outstanding short term loans and borrowings.
2.8 Provisions
Provisions are recognised when the Group has a present obligation (legal or constructive) as a result of a past event, it is
probable that an outflow of resources embodying economic benefits will be required to settle the obligation and the amount
of the obligation can be estimated reliably.
The amount recognized as a provision is the best estimate of the consideration required to settle the present obligation at the
end of the reporting period, taking into account the risks and uncertainties surrounding the obligation. The expense relating
to a provision is presented in the Consolidated Statement of Profit and Loss net of any reimbursement.
If the effect of the time value of money is material, provisions are discounted using a current pre tax rate that reflects, where
appropriate, the risks specific to the liability. When discounting is used, the increase in the provision due to the passage of
time is recognised as a finance [Link] amount recognized as a provision is the best estimate of the consideration required
to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties
surrounding the obligation. The expense relating to a provision is presented in the Consolidated Statement of Profit and Loss
net of any reimbursement.
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, the
receivable is recognized as an asset, if it is virtually certain that reimbursement will be received and the amount of the
receivable can be measured reliably.
(This space is intentionally left blank)
2.9 Employee benefits
Defined benefit plan
In accordance with applicable laws, the Group provides for gratuity, a defined benefit retirement plan (“the Gratuity Plan”) for
every employee who has completed 5 years or more of service on departure at 15 days salary (last drawn salary) for each
completed year of service. The Gratuity Plan provides for a lump sum payment to eligible employees at retirement, death,
incapacitation or termination of employment based on last drawn salary and tenure of employment with the Group. Liabilities
with regard to the Gratuity Plan are determined by actuarial valuation on the reporting date using projected unit credit
method. The gratuity scheme is not funded.
All actuarial gains and losses are immediately recognised in other comprehensive income, net of taxes, if any, and
permanently excluded from Consolidated Statement of Profit and Loss.
The cost of providing benefits under the defined benefit plan is determined using the projected unit credit method.
Re-measurements, comprising of actuarial gains and losses, the effect of the asset ceiling, excluding net interest and the
return on plan assets (excluding net interest), are recognised immediately in the Consolidated Statement of Profit and Loss
with a corresponding debit or credit to retained earnings through other comprehensive income in the period in which they
occur. Re-measurements are not reclassified to income statement in subsequent periods.
Past service costs are recognised in Consolidated Statement of Profit and Loss on the earlier of:
- The date of the plan amendment or curtailment, and
- The date that the Group recognizes restructuring-related costs
Net interest expense/ income is calculated by applying the discount rate to the net defined benefit liability or asset. The
Group recognises the following changes in the net defined benefit obligation under employee benefit expenses in
Consolidated Statement of Profit and Loss.
- Service costs comprising current service costs, past-service costs, net interest expense, gains and losses on curtailments
and non-routine settlements.
- Net interest expense or income.
Defined contribution plan
The Group makes contributions to the Provident Fund scheme, a defined contribution benefit scheme. These contributions
are deposited with Government administered fund and recognised as an expense in the period in which the related service is
performed. There is no further obligation on the Group on this defined contribution plan.
Compensated absences
Employee entitlements to annual leave are recognised as a liability when they accrue to the employees. The estimated
liability for leave is recognised for services rendered by employees up to the end of the reporting period.
Accumulated leaves, which is expected to be carry forward within the next 12 months, is treated as short-term employee
benefit. The Group measures the expected cost of such absences as the additional amount that it expects to pay as a result
of the unused entitlement that has accumulated at the reporting date.
The Group treats accumulated leave expected to be carried forward beyond twelve months, as long-term employee benefit
for measurement purposes. Such long-term compensated absences are provided for based on actuarial valuation using the
projected unit cost method at the year-end. Actuarial gains/losses are immediately taken to the Consolidated Statement of
Profit and Loss and not deferred. The Group presents entire leave as a current liability in the statement of financial position,
since it does not have an unconditional right the defer its settlement after 12 months after the reporting date.
Employee entitlements to annual leave are recognised as a liability when they accrue to the employees. The estimated
liability for leave is recognised for services rendered by employees up to the end of the reporting period.
Employee stock option plan
Flipkart Private Limited, Singapore (Intermediate Holding Company) operates equity compensation plans for the group
entities. The Group recognises the cost and corresponding liability based on the advice received from Flipkart Private

55
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Limited, Singapore.
Equity settled component
The cost of equity settled share-based payment transactions with employees is measured by reference to the fair value of
the options using option pricing model at the date on which the options are granted which takes into account market
conditions and non-vesting conditions provided that all other performance conditions are statisfied.
Cash settled component
The cost of cash settled share-based payment transactions is measured initially and at each reporting date up to and

56
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

including the settlement date, with changes in fair value recognised in employee benefits expense.
The fair value is expensed over the period until the vesting date with recognition of a corresponding liability to pay
Intermediate Holding Company.
2.10 Leases
The Group assesses at contract inception whether a contract is, or contains, a lease. That is, if the contract conveys the right
to control the use of an identified asset for a period of time in exchange for consideration.
Group as a lessee
The Company considers itself a lessee if the Company has the right to control the use of an identified asset in a lease
contract. The Company determines that it has the right to control the use of an identified asset if the Company has the right
to obtain and direct substantially all of the economic benefits from its use.
Lease term
Lease contracts may include options to extend or terminate the lease before the end of the lease period. Lease term is
defined as the non-cancellable period of the lease, adjusted with option(s) to extend or terminate the lease, when it is
reasonably certain that the Group will exercise that option.
Initial recognition and measurement
For all lease contracts in which the Company is a lessee, at the date of commencement of the lease (i.e., the date the
Company receives possession and the
underlying asset is available for its intended use by the Company per the terms of the contract), the Company applies a
single recognition and measurement
approach i.e., recognizes a lease liability to make lease payments over the lease term and a corresponding right-of-use
asset representing the right-of-use of the
underlying asset.
i) Right-of-use assets
The Group recognises right-of-use assets at the commencement date of the lease (i.e., the date the underlying asset is
available for use). Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and
adjusted for any remeasurement of lease liabilities. The cost of right-of-use assets includes the amount of lease liabilities
recognised, initial direct costs incurred, and an estimate of costs to dismantle and remove the underlying asset or to restore
the underlying asset or the site on which it is located, and lease payments made at or before the commencement date less
any lease incentives received.
Right-of-use assets are depreciated on a straight-line basis over the shorter of the lease term and the estimated useful lives
of the assets.

Nature of leased asset Estimated Useful Life (Yrs.)

Building 5 years
Vehicle 2 - 5 years

If ownership of the leased asset transfers to the Group at the end of the lease term or the cost reflects the exercise of a
purchase option, depreciation is calculated using the estimated useful life of the asset. The right-of-use assets are also
subject to impairment.
ii) Lease liabilities
Lease liabilities are initially measured at the present value of the aggregate of expected lease payments over the lease term
that are not paid at the commencement date of the lease, discounted using the Company's applicable incremental borrowing
rate because the rate implicit in the lease are not readily determinable.
Lease payments included in the measurement of the lease liabilities comprise the following:
(i) Fixed payments, including in-substance fixed payments;
(ii) Lease payments for an optional renewal period if the Company is reasonably certain to exercise an extension option, and
(iii) Penalties for early termination unless the Company is reasonably certain not to terminate early or outflows are not
probable
iii) Short-term leases and leases of low-value assets
Leases with an initial lease term of 12 months or less is considered as short-term leases. Leases having underlying assets of
low value, when new, individually, is
considered as leases of low-value assets even if such underlying assets may be material in aggregate such as printers,
tablets, personal computers, telephones and
small items of office furniture. For these short-term leases and leases of low-value assets in which the Company is a lessee,
the Company has elected not to
recognise right-of-use assets or corresponding lease liability on lease commencement date and instead report the
associated lease expense accruals as an operating expense on a straight-line basis over the lease term.
Subsequent measurement
Lease liability and interest costs
Lease liabilities are subsequently measured by adjusting its carrying value to reflect accretion of interest using the effective
interest method and the lease payments made. In addition, the Company re-measures the lease liability whenever -
(a) the lease term has changed or there is a significant event or change in circumstances resulting in a change in the
assessment of exercise of a purchase, extension or termination option by the Company, in which case the lease liability is
remeasured by discounting the revised lease payments using a revised discount rate.
(b) a lease contract is modified, and the lease modification is not accounted for as a separate lease, in which case the lease
liability is remeasured based on the lease term of the modified lease by discounting the revised lease payments using a
revised discount rate at the effective date of the modification.
Right-of-use asset and depreciation
Right-of-use assets are subsequently measured at cost less accumulated depreciation allowances, impairment expenses

57
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

and adjustment for re-measurement of lease liabilities, if any. Right-of-use assets are depreciated from the lease
commencement date on a straight-line basis over the shorter of the lease term and estimated useful life of the underlying
asset. The estimated useful lives of right-of-use assets are determined on the same basis as those of the items of property,
plant and equipment.
Impairment of right-of-use asset
The Company applies Ind-AS 116 to determine whether a right-of-use asset is impaired and accounts for any identified
impairment loss as described in the property,
plant and equipment’s policy
2.11 Revenue from operations
Revenue is recognized upon transfer of control of promised services to customers in an amount that reflects the
consideration we expect to receive in exchange for those services.
Revenue is measured based on the amount of consideration that we expect to receive, reduced by estimates for return
allowances, promotional discounts, and rebates. Revenue also excludes any amounts collected on behalf of third parties,
including sales and indirect taxes. In arrangements where we have multiple performance obligations, the transaction price is
allocated to each performance obligation using the relative stand-alone selling price. We generally determine stand-alone
selling prices based on the prices charged to customers or using expected cost plus a margin.
The Group accounts for volume discounts and pricing incentives to customers as a reduction of revenue. Incentives to
customers are provided in various forms including discounts on fees, discounts on items sold, coupons and rewards.
Promotions and incentives which are consideration payable to a customer are recognised as a reduction of revenue at the
time when revenue is recognised.
Refunds are recorded as a reduction of revenue. We estimate our refund liabilities using historical refund experience by deal
category. We assess the trends that could affect our estimates on an ongoing basis and adjust the refund reserve
calculations if it appears that changes in circumstances, including changes to our refund policies or general economic
conditions, may cause future refunds to differ from our initial estimates. If actual refunds differ from our estimates, the effects
could be material to the Group's Consolidated Ind-AS Financial Statements.
Contract Liabilities (Unearned revenue) is recognised if a payment is received or a payment is due i.e. invoicing is complete
(whichever is earlier) from a customer before the Group transfers the related services.
Contract modifications are accounted for when additions, deletions or changes are approved either to the contract scope or
contract price. The accounting for modifications of contracts involves assessing whether the services added to an existing
contract are distinct and whether the pricing is at the standalone selling price. Services added that are not distinct are
accounted for on a cumulative catch up basis, while those that are distinct are accounted for prospectively, either as a
separate contract, if the additional services are priced at the standalone selling price, or as a termination of the existing
contract and creation of a new contract if not priced at the standalone selling price.
The following is a description of principal activities from which the Group generates its revenue along with specific
recognition criteria which must also be met before revenue is recognised:
Rendering of services
Income from marketplace services
Marketplace services generates revenue primarily from transaction fees paid by customers (sellers) in marketplace. Revenue
related to transaction fees and any related fulfilment fees earned from these arrangements are recognised when the services
are rendered, which generally happens at the time underlying order has been dispatched.
Income from logistics services
Income from logistics services include warehousing and shipping services. Revenue from warehousing services is
recognised over the period of delivery of such services. Revenue from shipping services is recognised over time.
Revenue from consultancy services is recognised as and when services are provided over a period of time.
Income from advertisement services
Revenue from advertising services is recognized on point in time as advertisements based on the number of clicks delivered
(which are generated each time users on our platforms click through our advertisements to an advertiser’s designated
website) or completion of impressions (i.e., the number of times that an advertisement appears in pages viewed by users of
our platforms) or completion of per day billing during sale events. We use the output method and apply the practical
expedient to recognize advertising revenue in the amount to which we have a right to invoice.
Income from royalty services
Income from royalty services is recognised on accrual basis as the services are rendered in accordance with the terms of the
agreement entered into by the Group with its customers.
Interest income
Interest income is recognised using the effective interest method. Effective interest is the rate that exactly discounts the
estimated future cash receipts over the expected life of the financial instrument or a shorter period, where appropriate, to the
net carrying amount of the financial asset. Interest income is included in finance income in the Consolidated Statement of
Profit and Loss. Finance income comprises of interest income on fixed deposits, and changes in fair value and gains/(losses)
on disposal of financial instruments classified as FVTPL.
2.12 Finance cost
Finance expenses comprise interest cost on borrowings. Borrowing costs that are not directly attributable to a qualifying
asset are recognized in the Consolidated Statement of Profit and Loss using the effective interest method.
2.13 Taxes
Income tax comprises current and deferred tax. Income tax expense is recognized in the Consolidated Statement of Profit
and Loss except to the extent it relates to a business combination, or items directly recognized in equity or in other
comprehensive income.

58
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Current income tax

Current income tax for the current and prior periods are measured at the amount expected to be recovered from or paid to
the taxation authorities based on the taxable income for the period. The tax rates and tax laws used to compute the current
tax amount are those that are enacted or substantively enacted by the reporting date and applicable for the period. The
Group offsets current tax assets and current tax liabilities, where it has a legally enforceable right to set off the recognized
amounts and where it intends either to settle on a net basis, or to realize the asset and liability simultaneously.
Current income tax relating to items recognised directly in equity is recognised in equity and not in the statement of profit or
loss. Management periodically evaluates positions taken in the tax returns with respect to situations in which applicable tax
regulations are subject to interpretation, and it establishes provisions where appropriate.
Deferred tax
Deferred income tax is recognized using the using the balance sheet approach. Deferred income tax assets and liabilities are
recognized for deductible and taxable temporary differences arising between the tax base of assets and liabilities and their
carrying amount in Consolidated Ind-AS Financial Statements, except when the deferred income tax arises from the initial
recognition of goodwill or an asset or liability in a transaction that is not a business combination and affects neither
accounting nor taxable profits or loss at the time of the transaction. Deferred income tax assets are recognized to the extent
it is probable that taxable profit will be available against which the deductible temporary differences and the carry forward of
unused tax credits and unused tax losses can be utilized.
The carrying amount of deferred income tax assets is reviewed at each reporting date and reduced to the extent that it is no
longer probable that sufficient taxable profit will be available to allow all or part of the deferred income tax asset to be utilized.
Deferred income tax assets and liabilities are measured at the tax rates that are expected to apply in the period when the
asset is realized or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted
at the reporting period.
Deferred tax relating to items recognised outside profit or loss is recognised outside profit or loss. Deferred tax items are
recognised in correlation to the underlying transaction either in OCI or directly in equity.
The Group offsets deferred income tax assets and liabilities, where it has a legally enforceable right to offset current tax
assets against current tax liabilities, and they relate to taxes levied by the same taxation authority on either the same taxable
entity, or on different taxable entities where there is an intention to settle the current tax liabilities and assets on a net basis
or their tax assets and liabilities will be realized simultaneously.
Sales/ value added/ Goods and Service taxes paid on acquisition of assets or on incurring expenses
Expenses and assets are recognised net of the amount of sales / value added / Goods and Services taxes paid, except:
- when the tax incurred on a purchase of assets or services is not recoverable from the taxation authority, in which case, the
tax paid is recognised as part of the cost of acquisition of the asset or as part of the expense item, as applicable,
- when receivables and payables are stated with the amount of tax included.
The net amount of tax recoverable from, or payable to, the taxation authority is included as part of receivables or payables in
the Consolidated Balance Sheet.
2.14 Contingencies
A contingent liability is:
A possible obligation that arises from past events and whose existence will be confirmed only by the occurrence or
non-occurrence of one or more uncertain future events not wholly within the control of the Group; or A present obligation
that arises from past events but is not recognised because:
(i) It is not probable that an outflow of resources embodying economic benefits will be required to settle the obligation; or
(ii) The amount of the obligation cannot be measured with sufficient reliability.
A contingent asset is a possible asset that arises from past events and whose existence will be confirmed only by the
occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the Group.
Contingent liabilities and assets are not recognised on the balance sheet of the Group, except for contingent liabilities
assumed in a business combination that are present obligations arising from past events and which the fair values can be
reliably determined.
A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that may, but
probably will not, require an outflow of resources. When there is a possible obligation or a present obligation in respect of
which the likelihood of outflow of resources is remote, no provision or disclosure is made.
2.15 Earnings / (loss) per share
Basic earnings per share is computed by dividing the profit/(loss) attributable to ordinary equity holders of the Group by
weighted average number of equity shares outstanding during the period adjusted for treasury shares held. Diluted earnings
per share is computed by dividing the profit/(loss) attributable to ordinary equity holders of the Group (after adjustment) using
the weighted-average number of equity shares considered for deriving basic earnings per share and weighted average
number of dilutive equivalent shares outstanding during the period, except where the results would be anti-dilutive. Dilutive
potential shares are deemed converted at the beginning of the period, unless issued at later date.
2.16 Segment reporting
The Group primarily engages in marketplace services operating an online portal on which third-party sellers sell products to
customers. The Board of Directors of the Group allocate the resources and assess the performance of the Group, thus are
the Chief Operating Decision Maker (CODM). The CODM monitors the operating results of the business as a single
segment, hence no separate segment needs to be disclosed. The Group does not distinguish revenues, costs and expenses
between different businesses in its internal reporting, and reports costs and expenses by nature as a whole. The Group
operates and manages its business as a single segment mainly through the sale of products and services. As the Group's
long-lived assets are all located in India and most of the Group's revenues are derived from India, no geographical
information is presented
2.17 Compulsorily Convertible and Cumulative Preference Shares (CCCPS)
Compulsorily Convertible and Cumulative Preference Shares (CCCPS) are classified as equity components based on the

59
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

terms of the contract. On issuance of the convertible preference shares, proceeds are allocated to the conversion option that
is recognised and included in equity since conversion option meets Ind-AS 32 criteria for fixed to fixed classification.
Transaction costs are deducted from equity, net of associated income tax. The carrying amount of the conversion option is
not remeasured in subsequent years. Transaction costs are allocated to equity components of the convertible preference
shares when the instruments are initially recognised.
2.18 Current and non-current classification
The Group presents assets and liabilities in the Consolidated Balance Sheet based on current/ non-current classification.
An asset is treated as current when it is:
- Expected to be realised or intended to be sold or consumed in normal operating cycle
- Held primarily for the purpose of trading
- Expected to be realised within twelve months after the reporting period, or
- Cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least twelve months after
the reporting period
All other assets are classified as non-current.
A liability is current when:
- It is expected to be settled in normal operating cycle
- It is held primarily for the purpose of trading
- It is due to be settled within twelve months after the reporting period, or
- There is no unconditional right to defer the settlement of the liability for at least twelve months after the reporting period
The terms of the liability that could, at the option of the counterparty, result in its settlement by the issue of equity instruments
do not affect its classification.
The Group classifies all other liabilities as non-current.
The operating cycle is the time between the acquisition of assets for processing and their realisation in cash and cash
equivalents. The Group has identified twelve months as its operating cycle.
2.19 Fair value measurement
A number of financial instruments are measured at fair value as of each reporting date after initial recognition. Fair value is
the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market
participants at the measurement date. The fair value of an asset or a liability is measured using the assumptions that market
participants would use when pricing the asset or liability, assuming that market participants act in their economic best interest
by using quoted market rates, discounted cash flow analyses and other appropriate valuation models. The Group uses
valuation techniques that are appropriate in the circumstances and for which sufficient data is available to measure fair
value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs. All assets and
liabilities for which fair values are being measured or disclosed in the Consolidated Ind-AS Financial Statements are
categorized within the fair value hierarchy, described as follows:
• Level 1– This level of hierarchy includes financial assets that are measured by reference to quoted prices (unadjusted) in
active markets for identical assets or liabilities.
• Level 2 – This level of hierarchy includes financial assets and liabilities, measured using inputs other than quoted prices
included within Level 1 that are observable for the asset or liability, either directly (i.e., as prices) or indirectly (i.e., derived
from prices); and
• Level 3 – This level of hierarchy includes financial assets and liabilities measured using inputs that are not based on
observable market data (unobservable inputs). Fair values are determined in whole or in part, using a valuation model based
on assumptions that are neither supported by prices from observable current market transactions in the same instrument nor
are they based on available market data.
For assets and liabilities that are recognised in the Consolidated Ind-AS Financial Statements on a recurring basis, the
Group determines whether transfers have occured between levels in the heirarchy by re-assessing categorisation (based on
the lowest level input that is significant to the fair value measurement as a whole) at the end of each reporting period.
2.20 Statement of Cash flow
Cash flow are reported using the indirect method, whereby profit/(loss) for the period is adjusted for the effects of
transactions of a non-cash nature, any deferrals or accruals of past or future operating cash receipts or payments and item of
income or expenses associated with investing or financing cash flow. The cash flow from operating, investing and financing
activities of the Group are segregated.
As per the amendment to Ind-AS 7, applicable with effect from April 1, 2017, the Group provides disclosures that enable
users of Consolidated Ind-AS Financial Statements to evaluate changes in liabilities arising from financing activities,
including both changes arising from cash flows and non-cash changes, suggesting inclusion of a reconciliation between the
opening and closing balances in the Consolidated Balance Sheet for liabilities arising from financing activities, to meet the
disclosure requirement. The Group has provided the information for the current year in note 9.
2.21 Significant accounting estimates and judgements
The preparation of the Group's Consolidated Financial Statements in conformity with Ind-AS requires management to make
judgements, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, and
the grouping disclosures, and the disclosure of contingent liabilities at the reporting period. Actual results may differ from
those estimates.
Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized
in the period in which the estimates are revised if the revision affects only that period or in the period of the revision and
future periods if the revision affects both current and future periods. In particular, information about significant areas of
estimation, uncertainty and critical judgments in applying accounting policies that have the most significant effect on the
amounts recognized in the Consolidated Ind-AS Financial Statements are included in the following notes:
(a) Impairment of non-financial assets
The Group assesses whether there are any indicators of impairment for all non-financial assets at each reporting date.
Goodwill and other intangible assets with indefinite economic lives are tested for impairment annually and at other times
when such indicators exist.

60
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

An asset's recoverable amount is the higher of an asset's or cash-generating unit's fair value less costs of disposal and its
value in use and is determined for an individual asset, unless the asset does not generate cash inflow that are largely
independent of those from other assets or Group's of assets. Where the carrying amount of an asset or cash-generating unit
exceeds its recoverable amount, the asset is considered impaired and is written down to its recoverable amount. In
assessing value in use, the estimated future cash flow are discounted to their present value using a pre-tax discount rate that
reflects current market assessments of the time value of money and the risks specific to the asset. In determining fair value
less costs of disposal, recent market transactions are taken into account, if available. If no such transactions can be
identified, an appropriate valuation model is used. These calculations are corroborated by valuation multiples or other
available fair value indicators.

61
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Impairment losses are recognised in Consolidated Statement of Profit and Loss in those expense categories consistent with
the nature of the impaired asset. Other non-financial assets are tested for impairment when there are indicators that the
carrying amounts may not be recoverable.
(b) Impairment of financial assets
On application of Ind-AS 109, the impairment provisions of financial assets are based on assumptions about risk of default
and expected timing of collection. The Group uses judgment in making these assumptions and selecting the inputs to the
impairment calculation, based on the Group's past history, customer’s credit-worthiness, existing market conditions as well
as forward looking estimates at the end of each reporting period.
(c) Deferred tax Assets
The recognition of deferred tax assets is based on management’s judgement regarding the likelihood of future taxable profits
and the timing and extent to which deferred tax assets can be utilised. This assessment involves the use of estimates and
assumptions about future operating performance, future taxable income, and relevant tax laws.
(d) Other estimates
The preparation of Consolidated Ind-AS Financial Statements involves estimates and assumptions that affect the reported
amount of assets, liabilities, disclosure of contingent liabilities at the date of Consolidated Ind-AS Financial Statements and
the reported amount of revenues and expenses for the reporting period. Specifically, the Group estimates the
un-collectability of accounts receivable by analysing historical payment patterns, customer concentrations, customer
credit-worthiness and current economic trends. If the financial condition of a customer deteriorates, additional allowances
may be required.
Identification of related party relationship and transactions requiring disclosures under Ind AS 24 and other applicable
requirements of Ind AS involves exercise of judgment. In determining group companies/ fellow subsidiaries with whom the
Group has related party transactions requiring disclosure, management has considered factors such as shareholding and/ or
board control exercised by the parent company, ultimate parent company or other group entities. Based on the related party
relationship identified by the management as on reporting date, related party transactions that took place during the year and
the balances existing as of the reporting date are disclosed in these Consolidated Ind-As Financial Statements
2.22 Events occuring after the reporting date
If the Group recieves information after the reporting period, but prior to the date of approved for issue, about conditions that
existed at the end of the reporting period, it will assess whether the information affects the amount that it recognises in its
Consolidated Ind-AS Financial Statements. The Group will adjust the amounts recognised in its Consolidated Ind-AS
Financial Statements to reflect any adjusting events after the reporting period and update the disclosures that relate to those
conditions in light of the new information. For non-adjusting events after the reporting period, the Group will not change the
amounts recognised in its Consolidated Ind-AS Financial Statements but will disclose the nature of the non-adjusting events
and an estimate of its financial effect, or a statement that such an estimate cannot be made, if applicable.
2.23 New and amended standards and interpretations
The Ministry of Corporate Affairs has notified Companies (Indian Accounting Standard) Amendment Rules 2023 dated March
31, 2023, to amend the following Ind-AS which are effective on or after April 01, 2024. The Group has not early adopted any
other standard, interpretation or amendment that has been issued but is not yet effective.
(i) Ind AS 117 Insurance Contracts
The Ministry of Corporate Affairs (MCA) notified the Ind AS 117, Insurance Contracts, vide notification dated August 12,
2024, under the Companies (Indian Accounting Standards) Amendment Rules, 2024, which is effective from annual reporting
periods beginning on or after April 1, 2024.
Ind AS 117 Insurance Contracts is a comprehensive new accounting standard for insurance contracts covering recognition
and measurement, presentation and disclosure. Ind AS 117 replaces Ind AS 104 Insurance Contracts. Ind AS 117 applies to
all types of insurance contracts, regardless of the type of entities that issue them as well as to certain guarantees and
financial instruments with discretionary participation features; a few scope exceptions will apply. Ind AS 117 is based on a
general model, supplemented by:
• A specific adaptation for contracts with direct participation features (the variable fee approach)
• A simplified approach (the premium allocation approach) mainly for short-duration contracts
The application of Ind AS 117 does not have material impact on the Group’s Consolidated Ind-AS Financial Statements as
the Group has not entered any contracts in the nature of insurance contracts covered under Ind AS 117.
(ii) Amendments to Ind AS 116 Leases – Lease Liability in a Sale and Leaseback
The MCA notified the Companies (Indian Accounting Standards) Second Amendment Rules, 2024, which amend Ind AS
116, Leases, with respect to Lease Liability in a Sale and Leaseback.
The amendment specifies the requirements that a seller-lessee uses in measuring the lease liability arising in a sale and
leaseback transaction, to ensure the seller-lessee does not recognise any amount of the gain or loss that relates to the right
of use it retains.
The amendment is effective for annual reporting periods beginning on or after April 1, 2024 and must be applied
retrospectively to sale and leaseback transactions entered into after the date of initial application of Ind AS 116.
The amendments do not have a material impact on the Group’s Consolidated Ind-AS Financial Statements.
2.24 Standards notified but not yet effective:
Ind-AS 7 and Ind-AS 107 - Supplier Finance Arrangements - Disclosures which clarify the characteristics of supplier finance
arrangements and require additional disclosure of such arrangements.
Ind-AS 1 - Classification of Liabilities as Current or Non-current - Specifying the requirements for classifying liabilities as
current or non-current.
The above standards are not yet issued by MCA, and the management will be assessing the impact of the same as and
when the same are notified by MCA.

62
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

[610300] Notes - Accounting policies, changes in accounting estimates and errors

Unless otherwise specified, all monetary values are in Millions of INR
01/04/2024 01/04/2023
to to
31/03/2025 31/03/2024
Disclosure of changes in accounting policies, accounting estimates and errors
[TextBlock]
Disclosure of initial application of standards or interpretations
[TextBlock]
Whether initial application of an Ind AS has an effect on the
No No
current period or any prior period
Disclosure of voluntary change in accounting policy [TextBlock]
Whether there is any voluntary change in accounting policy No No
Disclosure of changes in accounting estimates [TextBlock]
Whether there are changes in acounting estimates during the year No No

[400600] Notes - Property, plant and equipment

Disclosure of additional information about property plant and equipment [Table] ..(1)
Unless otherwise specified, all monetary values are in Millions of INR
Property, plant and equipment
Classes of property, plant and equipment [Axis] Buildings [Member]
[Member]
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member] Assets held under lease [Member]
01/04/2024 01/04/2024 01/04/2023
to 31/03/2024 to to
31/03/2025 31/03/2025 31/03/2024
Disclosure of additional information about
property plant and equipment [Abstract]
Disclosure of additional information about
property plant and equipment [Line items]
Measurement bases, property, plant and equipment
Depreciation method, property, plant and
equipment
Useful lives or depreciation rates, property,
plant and equipment
Effective dates of revaluation, property,
plant and equipment
Explanation of involvement of independent
valuer in revaluation, property, plant and
equipment
Additional information [Abstract]
Property, plant and equipment,
expenditures recognised in course of its 0 0 0 0
construction
Property, plant and equipment, temporarily
0 0 0 0
idle
Property, plant and equipment, gross
carrying amount of fully depreciated 0 0 0 0
assets still in use
Property, plant and equipment,
assets retired from active use and 0 0 0 0
not classified as held for sale
Whether property, plant and equipment are
No No No
stated at revalued amount
Property, plant and equipment, revaluation
[Abstract]
Property, plant and equipment, revalued
0 0 0 0
assets
Property, plant and equipment, revalued
0 0 0 0
assets, at cost
Property, plant and equipment, revaluation
0 0 0 0
surplus
Description of restrictions on distribution
of revaluation surplus to shareholders,
property, plant and equipment

63
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Disclosure of additional information about property plant and equipment [Table] ..(2)
Unless otherwise specified, all monetary values are in Millions of INR
Classes of property, plant and equipment [Axis] Buildings [Member] Office building [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member] Assets held under lease [Member]
01/04/2024 01/04/2023 01/04/2024 01/04/2023
to to to to
31/03/2025 31/03/2024 31/03/2025 31/03/2024
Disclosure of additional information about
property plant and equipment [Abstract]
Disclosure of additional information about
property plant and equipment [Line items]
Measurement bases, property, plant and equipment 0 0
Depreciation method, property, plant and
Straight Line Basis Straight Line Basis
equipment
Useful lives or depreciation rates, property,
1-5 Years 1-5 Years
plant and equipment
Effective dates of revaluation, property,
0 0
plant and equipment
Explanation of involvement of independent
valuer in revaluation, property, plant and 0 0
equipment
Additional information [Abstract]
Property, plant and equipment,
expenditures recognised in course of its 0 0 0 0
construction
Property, plant and equipment, temporarily
0 0 0 0
idle
Property, plant and equipment, gross
carrying amount of fully depreciated 0 0 0 0
assets still in use
Property, plant and equipment,
assets retired from active use and 0 0 0 0
not classified as held for sale
Whether property, plant and equipment are
No No No No
stated at revalued amount
Property, plant and equipment, revaluation
[Abstract]
Property, plant and equipment, revalued
0 0 0 0
assets
Property, plant and equipment, revalued
0 0 0 0
assets, at cost
Property, plant and equipment, revaluation
0 0 0 0
surplus
Description of restrictions on distribution
of revaluation surplus to shareholders, 0 0
property, plant and equipment

64
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Disclosure of additional information about property plant and equipment [Table] ..(3)
Unless otherwise specified, all monetary values are in Millions of INR
Classes of property, plant and equipment [Axis] Office building [Member] Plant and equipment [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member] Owned assets [Member]
01/04/2024 01/04/2023 01/04/2024 01/04/2023
to to to to
31/03/2025 31/03/2024 31/03/2025 31/03/2024
Disclosure of additional information about
property plant and equipment [Abstract]
Disclosure of additional information about
property plant and equipment [Line items]
Measurement bases, property, plant and equipment 0 0
Depreciation method, property, plant and
Straight Line Basis Straight Line Basis
equipment
7 years or the lease 7 years or the lease
Useful lives or depreciation rates, property,
period, whichever is period, whichever is
plant and equipment lower lower
Effective dates of revaluation, property,
0 0
plant and equipment
Explanation of involvement of independent
valuer in revaluation, property, plant and 0 0
equipment
Additional information [Abstract]
Property, plant and equipment,
expenditures recognised in course of its 0 0 0 0
construction
Property, plant and equipment, temporarily
0 0 0 0
idle
Property, plant and equipment, gross
carrying amount of fully depreciated 0 0 0 0
assets still in use
Property, plant and equipment,
assets retired from active use and 0 0 0 0
not classified as held for sale
Whether property, plant and equipment are
No No No No
stated at revalued amount
Property, plant and equipment, revaluation
[Abstract]
Property, plant and equipment, revalued
0 0 0 0
assets
Property, plant and equipment, revalued
0 0 0 0
assets, at cost
Property, plant and equipment, revaluation
0 0 0 0
surplus
Description of restrictions on distribution
of revaluation surplus to shareholders, 0 0
property, plant and equipment

65
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Disclosure of additional information about property plant and equipment [Table] ..(4)
Unless otherwise specified, all monetary values are in Millions of INR
Classes of property, plant and equipment [Axis] Other plant and equipment [Member] Furniture and fixtures [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member] Owned assets [Member]
01/04/2024 01/04/2023 01/04/2024 01/04/2023
to to to to
31/03/2025 31/03/2024 31/03/2025 31/03/2024
Disclosure of additional information about
property plant and equipment [Abstract]
Disclosure of additional information about
property plant and equipment [Line items]
Measurement bases, property, plant and equipment 0 0 0 0
Depreciation method, property, plant and
Straight Line Basis Straight Line Basis Straight Line Basis Straight Line Basis
equipment
Useful lives or depreciation rates, property,
5 Years 5 Years 5 Years 5 Years
plant and equipment
Effective dates of revaluation, property,
0 0 0 0
plant and equipment
Explanation of involvement of independent
valuer in revaluation, property, plant and 0 0 0 0
equipment
Additional information [Abstract]
Property, plant and equipment,
expenditures recognised in course of its 0 0 0 0
construction
Property, plant and equipment, temporarily
0 0 0 0
idle
Property, plant and equipment, gross
carrying amount of fully depreciated 0 0 0 0
assets still in use
Property, plant and equipment,
assets retired from active use and 0 0 0 0
not classified as held for sale
Whether property, plant and equipment are
No No No No
stated at revalued amount
Property, plant and equipment, revaluation
[Abstract]
Property, plant and equipment, revalued
0 0 0 0
assets
Property, plant and equipment, revalued
0 0 0 0
assets, at cost
Property, plant and equipment, revaluation
0 0 0 0
surplus
Description of restrictions on distribution
of revaluation surplus to shareholders, 0 0 0 0
property, plant and equipment

66
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Disclosure of additional information about property plant and equipment [Table] ..(5)
Unless otherwise specified, all monetary values are in Millions of INR
Classes of property, plant and equipment [Axis] Vehicles [Member] Motor vehicles [Member]
Sub classes of property, plant and equipment [Axis] Assets held under lease [Member] Assets held under lease [Member]
01/04/2024 01/04/2023 01/04/2024 01/04/2023
to to to to
31/03/2025 31/03/2024 31/03/2025 31/03/2024
Disclosure of additional information about
property plant and equipment [Abstract]
Disclosure of additional information about
property plant and equipment [Line items]
Measurement bases, property, plant and equipment 0 0
Depreciation method, property, plant and
Straight Line Basis Straight Line Basis
equipment
Useful lives or depreciation rates, property,
2-4 Years 2-4 Years
plant and equipment
Effective dates of revaluation, property,
0 0
plant and equipment
Explanation of involvement of independent
valuer in revaluation, property, plant and 0 0
equipment
Additional information [Abstract]
Property, plant and equipment,
expenditures recognised in course of its 0 0 0 0
construction
Property, plant and equipment, temporarily
0 0 0 0
idle
Property, plant and equipment, gross
carrying amount of fully depreciated 0 0 0 0
assets still in use
Property, plant and equipment,
assets retired from active use and 0 0 0 0
not classified as held for sale
Whether property, plant and equipment are
No No No No
stated at revalued amount
Property, plant and equipment, revaluation
[Abstract]
Property, plant and equipment, revalued
0 0 0 0
assets
Property, plant and equipment, revalued
0 0 0 0
assets, at cost
Property, plant and equipment, revaluation
0 0 0 0
surplus
Description of restrictions on distribution
of revaluation surplus to shareholders, 0 0
property, plant and equipment

67
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Disclosure of additional information about property plant and equipment [Table] ..(6)
Unless otherwise specified, all monetary values are in Millions of INR
Classes of property, plant and equipment [Axis] Office equipment [Member] Computer equipments [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member] Owned assets [Member]
01/04/2024 01/04/2023 01/04/2024 01/04/2023
to to to to
31/03/2025 31/03/2024 31/03/2025 31/03/2024
Disclosure of additional information about
property plant and equipment [Abstract]
Disclosure of additional information about
property plant and equipment [Line items]
Measurement bases, property, plant and equipment 0 0 0 0
Depreciation method, property, plant and
Straight Line Basis Straight Line Basis Straight Line Basis Straight Line Basis
equipment
Useful lives or depreciation rates, property,
5 Years 5 Years 3-5 Years 3-5 Years
plant and equipment
Effective dates of revaluation, property,
0 0 0 0
plant and equipment
Explanation of involvement of independent
valuer in revaluation, property, plant and 0 0 0 0
equipment
Additional information [Abstract]
Property, plant and equipment,
expenditures recognised in course of its 0 0 0 0
construction
Property, plant and equipment, temporarily
0 0 0 0
idle
Property, plant and equipment, gross
carrying amount of fully depreciated 0 0 0 0
assets still in use
Property, plant and equipment,
assets retired from active use and 0 0 0 0
not classified as held for sale
Whether property, plant and equipment are
No No No No
stated at revalued amount
Property, plant and equipment, revaluation
[Abstract]
Property, plant and equipment, revalued
0 0 0 0
assets
Property, plant and equipment, revalued
0 0 0 0
assets, at cost
Property, plant and equipment, revaluation
0 0 0 0
surplus
Description of restrictions on distribution
of revaluation surplus to shareholders, 0 0 0 0
property, plant and equipment

68
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Disclosure of detailed information about property, plant and equipment [Table] ..(1)
Unless otherwise specified, all monetary values are in Millions of INR
Classes of property, plant and equipment [Axis] Property, plant and equipment [Member]
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member]
Carrying amount accumulated depreciation and gross carrying Gross carrying
Carrying amount [Member]
amount [Axis] amount [Member]
01/04/2024 01/04/2023 01/04/2024
to to 31/03/2023 to
31/03/2025 31/03/2024 31/03/2025
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 223 96 223
equipment
Acquisitions through business
combinations, property, plant and 0 0 0
equipment
Increase (decrease) through net
exchange differences, property, 0 0 0
plant and equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
-249 -310
loss
Depreciation recognised as part of
0 0
cost of other assets
Total Depreciation property plant and
-249 -310
equipment
Impairment loss recognised in profit
or loss, property, plant and 0 0
equipment
Reversal of impairment loss
recognised in profit or loss, 0 0
property, plant and equipment
Revaluation increase (decrease),
0 0 0
property, plant and equipment
Impairment loss recognised in other
comprehensive income, property, plant and 0 0
equipment
Reversal of impairment loss recognised
in other comprehensive income, property, 0 0
plant and equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through
transfers, property, plant and 0 0 0
equipment
Increase (decrease) through other
changes, property, plant and 0 0 0
equipment
Total increase (decrease) through
transfers and other changes, property, 0 0 0
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
6 8 37
equipment
Retirements, property, plant and
0 0 0
equipment
Total disposals and retirements,
6 8 37
property, plant and equipment
Decrease through classified as held
for sale, property, plant and 0 0 0
equipment
Decrease through loss of control of
subsidiary, property, plant and 0 0 0
equipment

69
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Total increase (decrease) in property,

-32 -222 186
plant and equipment
Property, plant and equipment at end of
(A) 255 (B) 287 509 1,745
period

Footnotes
(A)

Property, plant and equipment (167) + Right of use asset (88)

(B)

Property, plant and equipment (195) + Right of use asset (92)

70
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Disclosure of detailed information about property, plant and equipment [Table] ..(2)
Unless otherwise specified, all monetary values are in Millions of INR
Classes of property, plant and equipment [Axis] Property, plant and equipment [Member]
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member]
Carrying amount accumulated depreciation and gross carrying Accumulated depreciation and
Gross carrying amount [Member]
amount [Axis] impairment [Member]
01/04/2023 01/04/2024 01/04/2023
to 31/03/2023 to to
31/03/2024 31/03/2025 31/03/2024
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 96
equipment
Acquisitions through business
combinations, property, plant and 0
equipment
Increase (decrease) through net
exchange differences, property, 0
plant and equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
249 310
loss
Depreciation recognised as part of
0 0
cost of other assets
Total Depreciation property plant and
249 310
equipment
Impairment loss recognised in profit
or loss, property, plant and 0 0
equipment
Reversal of impairment loss
recognised in profit or loss, 0 0
property, plant and equipment
Revaluation increase (decrease),
0
property, plant and equipment
Impairment loss recognised in other
comprehensive income, property, plant and 0 0
equipment
Reversal of impairment loss recognised
in other comprehensive income, property, 0 0
plant and equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through
transfers, property, plant and 0 0 0
equipment
Increase (decrease) through other
changes, property, plant and 0 0 0
equipment
Total increase (decrease) through
transfers and other changes, property, 0 0 0
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
75 31 67
equipment
Retirements, property, plant and
0 0 0
equipment
Total disposals and retirements,
75 31 67
property, plant and equipment
Decrease through classified as held
for sale, property, plant and 0 0 0
equipment
Decrease through loss of control of
subsidiary, property, plant and 0 0 0
equipment

71
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Total increase (decrease) in property,

21 218 243
plant and equipment
Property, plant and equipment at end of
1,559 1,538 1,490 1,272
period

72
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Disclosure of detailed information about property, plant and equipment [Table] ..(3)
Unless otherwise specified, all monetary values are in Millions of INR
Property, plant
Classes of property, plant and equipment [Axis] and equipment Buildings [Member]
[Member]
Owned and leased
Sub classes of property, plant and equipment [Axis] Assets held under lease [Member]
assets [Member]
Accumulated
Carrying amount accumulated depreciation and gross carrying depreciation and
Carrying amount [Member]
amount [Axis] impairment
[Member]
01/04/2024 01/04/2023
31/03/2023 to to 31/03/2023
31/03/2025 31/03/2024
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 75 0
equipment
Acquisitions through business
combinations, property, plant and 0 0
equipment
Increase (decrease) through net
exchange differences, property, 0 0
plant and equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
-70 -63
loss
Depreciation recognised as part of
0 0
cost of other assets
Total Depreciation property plant and
-70 -63
equipment
Impairment loss recognised in profit
or loss, property, plant and 0 0
equipment
Reversal of impairment loss
recognised in profit or loss, 0 0
property, plant and equipment
Revaluation increase (decrease),
0 0
property, plant and equipment
Impairment loss recognised in other
comprehensive income, property, plant and 0 0
equipment
Reversal of impairment loss recognised
in other comprehensive income, property, 0 0
plant and equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through
transfers, property, plant and 0 0
equipment
Increase (decrease) through other
changes, property, plant and 0 0
equipment
Total increase (decrease) through
transfers and other changes, property, 0 0
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
0 0
equipment
Retirements, property, plant and
0 0
equipment
Total disposals and retirements,
0 0
property, plant and equipment

73
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Decrease through classified as held

for sale, property, plant and 0 0
equipment
Decrease through loss of control of
subsidiary, property, plant and 0 0
equipment
Total increase (decrease) in property,
5 -63
plant and equipment
Property, plant and equipment at end of
1,029 48 43 106
period

74
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Disclosure of detailed information about property, plant and equipment [Table] ..(4)
Unless otherwise specified, all monetary values are in Millions of INR
Classes of property, plant and equipment [Axis] Buildings [Member]
Sub classes of property, plant and equipment [Axis] Assets held under lease [Member]
Accumulated
Carrying amount accumulated depreciation and gross carrying depreciation and
Gross carrying amount [Member]
amount [Axis] impairment
[Member]
01/04/2024 01/04/2023 01/04/2024
to to 31/03/2023 to
31/03/2025 31/03/2024 31/03/2025
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 75 0
equipment
Acquisitions through business
combinations, property, plant and 0 0
equipment
Increase (decrease) through net
exchange differences, property, 0 0
plant and equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
70
loss
Depreciation recognised as part of
0
cost of other assets
Total Depreciation property plant and
70
equipment
Impairment loss recognised in profit
or loss, property, plant and 0
equipment
Reversal of impairment loss
recognised in profit or loss, 0
property, plant and equipment
Revaluation increase (decrease),
0 0
property, plant and equipment
Impairment loss recognised in other
comprehensive income, property, plant and 0
equipment
Reversal of impairment loss recognised
in other comprehensive income, property, 0
plant and equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through
transfers, property, plant and 0 0 0
equipment
Increase (decrease) through other
changes, property, plant and 0 0 0
equipment
Total increase (decrease) through
transfers and other changes, property, 0 0 0
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
0 0 0
equipment
Retirements, property, plant and
0 0 0
equipment
Total disposals and retirements,
0 0 0
property, plant and equipment
Decrease through classified as held
for sale, property, plant and 0 0 0
equipment

75
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Decrease through loss of control of

subsidiary, property, plant and 0 0 0
equipment
Total increase (decrease) in property,
75 0 70
plant and equipment
Property, plant and equipment at end of
341 266 266 293
period

76
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Disclosure of detailed information about property, plant and equipment [Table] ..(5)
Unless otherwise specified, all monetary values are in Millions of INR
Classes of property, plant and equipment [Axis] Buildings [Member]
Sub classes of property, plant and equipment [Axis] Assets held under lease [Member] Owned assets [Member]
Carrying amount accumulated depreciation and gross carrying Accumulated depreciation and
Carrying amount [Member]
amount [Axis] impairment [Member]
01/04/2023 01/04/2024 01/04/2023
to 31/03/2023 to to
31/03/2024 31/03/2025 31/03/2024
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 8 17
equipment
Acquisitions through business
combinations, property, plant and 0 0
equipment
Increase (decrease) through net
exchange differences, property, 0 0
plant and equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
63 -10 -20
loss
Depreciation recognised as part of
0 0 0
cost of other assets
Total Depreciation property plant and
63 -10 -20
equipment
Impairment loss recognised in profit
or loss, property, plant and 0 0 0
equipment
Reversal of impairment loss
recognised in profit or loss, 0 0 0
property, plant and equipment
Revaluation increase (decrease),
0 0
property, plant and equipment
Impairment loss recognised in other
comprehensive income, property, plant and 0 0 0
equipment
Reversal of impairment loss recognised
in other comprehensive income, property, 0 0 0
plant and equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through
transfers, property, plant and 0 0 0
equipment
Increase (decrease) through other
changes, property, plant and 0 0 0
equipment
Total increase (decrease) through
transfers and other changes, property, 0 0 0
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
0 0 0
equipment
Retirements, property, plant and
0 0 0
equipment
Total disposals and retirements,
0 0 0
property, plant and equipment
Decrease through classified as held
for sale, property, plant and 0 0 0
equipment
Decrease through loss of control of
subsidiary, property, plant and 0 0 0
equipment

77
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Total increase (decrease) in property,

63 -2 -3
plant and equipment
Property, plant and equipment at end of
223 160 14 16
period

Disclosure of detailed information about property, plant and equipment [Table] ..(6)
Unless otherwise specified, all monetary values are in Millions of INR
Classes of property, plant and equipment [Axis] Buildings [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
Carrying amount accumulated depreciation and gross carrying Carrying amount
Gross carrying amount [Member]
amount [Axis] [Member]
01/04/2024 01/04/2023
31/03/2023 to to 31/03/2023
31/03/2025 31/03/2024
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 8 17
equipment
Acquisitions through business
combinations, property, plant and 0 0
equipment
Increase (decrease) through net
exchange differences, property, 0 0
plant and equipment
Revaluation increase (decrease),
0 0
property, plant and equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through
transfers, property, plant and 0 0
equipment
Increase (decrease) through other
changes, property, plant and 0 0
equipment
Total increase (decrease) through
transfers and other changes, property, 0 0
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
1 0
equipment
Retirements, property, plant and
0 0
equipment
Total disposals and retirements,
1 0
property, plant and equipment
Decrease through classified as held
for sale, property, plant and 0 0
equipment
Decrease through loss of control of
subsidiary, property, plant and 0 0
equipment
Total increase (decrease) in property,
7 17
plant and equipment
Property, plant and equipment at end of
19 48 41 24
period

78
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Disclosure of detailed information about property, plant and equipment [Table] ..(7)
Unless otherwise specified, all monetary values are in Millions of INR
Office building
Classes of property, plant and equipment [Axis] Buildings [Member]
[Member]
Assets held under
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
lease [Member]
Carrying amount accumulated depreciation and gross carrying Carrying amount
Accumulated depreciation and impairment [Member]
amount [Axis] [Member]
01/04/2024 01/04/2023 01/04/2024
to to 31/03/2023 to
31/03/2025 31/03/2024 31/03/2025
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 75
equipment
Acquisitions through business
combinations, property, plant and 0
equipment
Increase (decrease) through net
exchange differences, property, 0
plant and equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
10 20 -70
loss
Depreciation recognised as part of
0 0 0
cost of other assets
Total Depreciation property plant and
10 20 -70
equipment
Impairment loss recognised in profit
or loss, property, plant and 0 0 0
equipment
Reversal of impairment loss
recognised in profit or loss, 0 0 0
property, plant and equipment
Revaluation increase (decrease),
0
property, plant and equipment
Impairment loss recognised in other
comprehensive income, property, plant and 0 0 0
equipment
Reversal of impairment loss recognised
in other comprehensive income, property, 0 0 0
plant and equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through
transfers, property, plant and 0 0 0
equipment
Increase (decrease) through other
changes, property, plant and 0 0 0
equipment
Total increase (decrease) through
transfers and other changes, property, 0 0 0
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
1 0 0
equipment
Retirements, property, plant and
0 0 0
equipment
Total disposals and retirements,
1 0 0
property, plant and equipment
Decrease through classified as held
for sale, property, plant and 0 0 0
equipment

79
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Decrease through loss of control of

subsidiary, property, plant and 0 0 0
equipment
Total increase (decrease) in property,
9 20 5
plant and equipment
Property, plant and equipment at end of
34 25 5 48
period

80
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Disclosure of detailed information about property, plant and equipment [Table] ..(8)
Unless otherwise specified, all monetary values are in Millions of INR
Classes of property, plant and equipment [Axis] Office building [Member]
Sub classes of property, plant and equipment [Axis] Assets held under lease [Member]
Carrying amount accumulated depreciation and gross carrying
Carrying amount [Member] Gross carrying amount [Member]
amount [Axis]
01/04/2023 01/04/2024 01/04/2023
to 31/03/2023 to to
31/03/2024 31/03/2025 31/03/2024
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 0 75 0
equipment
Acquisitions through business
combinations, property, plant and 0 0 0
equipment
Increase (decrease) through net
exchange differences, property, 0 0 0
plant and equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
-63
loss
Depreciation recognised as part of
0
cost of other assets
Total Depreciation property plant and
-63
equipment
Impairment loss recognised in profit
or loss, property, plant and 0
equipment
Reversal of impairment loss
recognised in profit or loss, 0
property, plant and equipment
Revaluation increase (decrease),
0 0 0
property, plant and equipment
Impairment loss recognised in other
comprehensive income, property, plant and 0
equipment
Reversal of impairment loss recognised
in other comprehensive income, property, 0
plant and equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through
transfers, property, plant and 0 0 0
equipment
Increase (decrease) through other
changes, property, plant and 0 0 0
equipment
Total increase (decrease) through
transfers and other changes, property, 0 0 0
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
0 0 0
equipment
Retirements, property, plant and
0 0 0
equipment
Total disposals and retirements,
0 0 0
property, plant and equipment
Decrease through classified as held
for sale, property, plant and 0 0 0
equipment
Decrease through loss of control of
subsidiary, property, plant and 0 0 0
equipment

81
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Total increase (decrease) in property,

-63 75 0
plant and equipment
Property, plant and equipment at end of
43 106 341 266
period

Disclosure of detailed information about property, plant and equipment [Table] ..(9)
Unless otherwise specified, all monetary values are in Millions of INR
Classes of property, plant and equipment [Axis] Office building [Member]
Sub classes of property, plant and equipment [Axis] Assets held under lease [Member]
Carrying amount accumulated depreciation and gross carrying Gross carrying
Accumulated depreciation and impairment [Member]
amount [Axis] amount [Member]
01/04/2024 01/04/2023
31/03/2023 to to 31/03/2023
31/03/2025 31/03/2024
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
70 63
loss
Depreciation recognised as part of
0 0
cost of other assets
Total Depreciation property plant and
70 63
equipment
Impairment loss recognised in profit
or loss, property, plant and 0 0
equipment
Reversal of impairment loss
recognised in profit or loss, 0 0
property, plant and equipment
Impairment loss recognised in other
comprehensive income, property, plant and 0 0
equipment
Reversal of impairment loss recognised
in other comprehensive income, property, 0 0
plant and equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through
transfers, property, plant and 0 0
equipment
Increase (decrease) through other
changes, property, plant and 0 0
equipment
Total increase (decrease) through
transfers and other changes, property, 0 0
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
0 0
equipment
Retirements, property, plant and
0 0
equipment
Total disposals and retirements,
0 0
property, plant and equipment
Decrease through classified as held
for sale, property, plant and 0 0
equipment
Decrease through loss of control of
subsidiary, property, plant and 0 0
equipment
Total increase (decrease) in property,
70 63
plant and equipment
Property, plant and equipment at end of
266 293 223 160
period

82
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Disclosure of detailed information about property, plant and equipment [Table] ..(10)
Unless otherwise specified, all monetary values are in Millions of INR
Classes of property, plant and equipment [Axis] Office building [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
Carrying amount accumulated depreciation and gross carrying Gross carrying
Carrying amount [Member]
amount [Axis] amount [Member]
01/04/2024 01/04/2023 01/04/2024
to to 31/03/2023 to
31/03/2025 31/03/2024 31/03/2025
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 8 17 8
equipment
Acquisitions through business
combinations, property, plant and 0 0 0
equipment
Increase (decrease) through net
exchange differences, property, 0 0 0
plant and equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
-10 -20
loss
Depreciation recognised as part of
0 0
cost of other assets
Total Depreciation property plant and
-10 -20
equipment
Impairment loss recognised in profit
or loss, property, plant and 0 0
equipment
Reversal of impairment loss
recognised in profit or loss, 0 0
property, plant and equipment
Revaluation increase (decrease),
0 0 0
property, plant and equipment
Impairment loss recognised in other
comprehensive income, property, plant and 0 0
equipment
Reversal of impairment loss recognised
in other comprehensive income, property, 0 0
plant and equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through
transfers, property, plant and 0 0 0
equipment
Increase (decrease) through other
changes, property, plant and 0 0 0
equipment
Total increase (decrease) through
transfers and other changes, property, 0 0 0
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
0 0 1
equipment
Retirements, property, plant and
0 0 0
equipment
Total disposals and retirements,
0 0 1
property, plant and equipment
Decrease through classified as held
for sale, property, plant and 0 0 0
equipment
Decrease through loss of control of
subsidiary, property, plant and 0 0 0
equipment

83
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Total increase (decrease) in property,

-2 -3 7
plant and equipment
Property, plant and equipment at end of
14 16 19 48
period

84
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Disclosure of detailed information about property, plant and equipment [Table] ..(11)
Unless otherwise specified, all monetary values are in Millions of INR
Classes of property, plant and equipment [Axis] Office building [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
Carrying amount accumulated depreciation and gross carrying Accumulated depreciation and
Gross carrying amount [Member]
amount [Axis] impairment [Member]
01/04/2023 01/04/2024 01/04/2023
to 31/03/2023 to to
31/03/2024 31/03/2025 31/03/2024
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 17
equipment
Acquisitions through business
combinations, property, plant and 0
equipment
Increase (decrease) through net
exchange differences, property, 0
plant and equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
10 20
loss
Depreciation recognised as part of
0 0
cost of other assets
Total Depreciation property plant and
10 20
equipment
Impairment loss recognised in profit
or loss, property, plant and 0 0
equipment
Reversal of impairment loss
recognised in profit or loss, 0 0
property, plant and equipment
Revaluation increase (decrease),
0
property, plant and equipment
Impairment loss recognised in other
comprehensive income, property, plant and 0 0
equipment
Reversal of impairment loss recognised
in other comprehensive income, property, 0 0
plant and equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through
transfers, property, plant and 0 0 0
equipment
Increase (decrease) through other
changes, property, plant and 0 0 0
equipment
Total increase (decrease) through
transfers and other changes, property, 0 0 0
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
0 1 0
equipment
Retirements, property, plant and
0 0 0
equipment
Total disposals and retirements,
0 1 0
property, plant and equipment
Decrease through classified as held
for sale, property, plant and 0 0 0
equipment
Decrease through loss of control of
subsidiary, property, plant and 0 0 0
equipment

85
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Total increase (decrease) in property,

17 9 20
plant and equipment
Property, plant and equipment at end of
41 24 34 25
period

86
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Disclosure of detailed information about property, plant and equipment [Table] ..(12)
Unless otherwise specified, all monetary values are in Millions of INR
Office building
Classes of property, plant and equipment [Axis] Plant and equipment [Member]
[Member]
Owned assets
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
[Member]
Accumulated
Carrying amount accumulated depreciation and gross carrying depreciation and
Carrying amount [Member]
amount [Axis] impairment
[Member]
01/04/2024 01/04/2023
31/03/2023 to to 31/03/2023
31/03/2025 31/03/2024
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 0 0
equipment
Acquisitions through business
combinations, property, plant and 0 0
equipment
Increase (decrease) through net
exchange differences, property, 0 0
plant and equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
0 -1
loss
Depreciation recognised as part of
0 0
cost of other assets
Total Depreciation property plant and
0 -1
equipment
Impairment loss recognised in profit
or loss, property, plant and 0 0
equipment
Reversal of impairment loss
recognised in profit or loss, 0 0
property, plant and equipment
Revaluation increase (decrease),
0 0
property, plant and equipment
Impairment loss recognised in other
comprehensive income, property, plant and 0 0
equipment
Reversal of impairment loss recognised
in other comprehensive income, property, 0 0
plant and equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through
transfers, property, plant and 0 0
equipment
Increase (decrease) through other
changes, property, plant and 0 0
equipment
Total increase (decrease) through
transfers and other changes, property, 0 0
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
0 0
equipment
Retirements, property, plant and
0 0
equipment
Total disposals and retirements,
0 0
property, plant and equipment
Decrease through classified as held
for sale, property, plant and 0 0
equipment

87
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Decrease through loss of control of

subsidiary, property, plant and 0 0
equipment
Total increase (decrease) in property,
0 -1
plant and equipment
Property, plant and equipment at end of
5 0 0 1
period

88
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Disclosure of detailed information about property, plant and equipment [Table] ..(13)
Unless otherwise specified, all monetary values are in Millions of INR
Classes of property, plant and equipment [Axis] Plant and equipment [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
Accumulated
Carrying amount accumulated depreciation and gross carrying depreciation and
Gross carrying amount [Member]
amount [Axis] impairment
[Member]
01/04/2024 01/04/2023 01/04/2024
to to 31/03/2023 to
31/03/2025 31/03/2024 31/03/2025
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 0 0
equipment
Acquisitions through business
combinations, property, plant and 0 0
equipment
Increase (decrease) through net
exchange differences, property, 0 0
plant and equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
0
loss
Depreciation recognised as part of
0
cost of other assets
Total Depreciation property plant and
0
equipment
Impairment loss recognised in profit
or loss, property, plant and 0
equipment
Reversal of impairment loss
recognised in profit or loss, 0
property, plant and equipment
Revaluation increase (decrease),
0 0
property, plant and equipment
Impairment loss recognised in other
comprehensive income, property, plant and 0
equipment
Reversal of impairment loss recognised
in other comprehensive income, property, 0
plant and equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through
transfers, property, plant and 0 0 0
equipment
Increase (decrease) through other
changes, property, plant and 0 0 0
equipment
Total increase (decrease) through
transfers and other changes, property, 0 0 0
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
0 0 0
equipment
Retirements, property, plant and
0 0 0
equipment
Total disposals and retirements,
0 0 0
property, plant and equipment
Decrease through classified as held
for sale, property, plant and 0 0 0
equipment

89
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Decrease through loss of control of

subsidiary, property, plant and 0 0 0
equipment
Total increase (decrease) in property,
0 0 0
plant and equipment
Property, plant and equipment at end of
2 2 2 2
period

90
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Disclosure of detailed information about property, plant and equipment [Table] ..(14)
Unless otherwise specified, all monetary values are in Millions of INR
Classes of property, plant and equipment [Axis] Plant and equipment [Member] Other plant and equipment [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member] Owned assets [Member]
Carrying amount accumulated depreciation and gross carrying Accumulated depreciation and
Carrying amount [Member]
amount [Axis] impairment [Member]
01/04/2023 01/04/2024 01/04/2023
to 31/03/2023 to to
31/03/2024 31/03/2025 31/03/2024
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 0 0
equipment
Acquisitions through business
combinations, property, plant and 0 0
equipment
Increase (decrease) through net
exchange differences, property, 0 0
plant and equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
1 0 -1
loss
Depreciation recognised as part of
0 0 0
cost of other assets
Total Depreciation property plant and
1 0 -1
equipment
Impairment loss recognised in profit
or loss, property, plant and 0 0 0
equipment
Reversal of impairment loss
recognised in profit or loss, 0 0 0
property, plant and equipment
Revaluation increase (decrease),
0 0
property, plant and equipment
Impairment loss recognised in other
comprehensive income, property, plant and 0 0 0
equipment
Reversal of impairment loss recognised
in other comprehensive income, property, 0 0 0
plant and equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through
transfers, property, plant and 0 0 0
equipment
Increase (decrease) through other
changes, property, plant and 0 0 0
equipment
Total increase (decrease) through
transfers and other changes, property, 0 0 0
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
0 0 0
equipment
Retirements, property, plant and
0 0 0
equipment
Total disposals and retirements,
0 0 0
property, plant and equipment
Decrease through classified as held
for sale, property, plant and 0 0 0
equipment
Decrease through loss of control of
subsidiary, property, plant and 0 0 0
equipment

91
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Total increase (decrease) in property,

1 0 -1
plant and equipment
Property, plant and equipment at end of
2 1 0 0
period

Disclosure of detailed information about property, plant and equipment [Table] ..(15)
Unless otherwise specified, all monetary values are in Millions of INR
Classes of property, plant and equipment [Axis] Other plant and equipment [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
Carrying amount accumulated depreciation and gross carrying Carrying amount
Gross carrying amount [Member]
amount [Axis] [Member]
01/04/2024 01/04/2023
31/03/2023 to to 31/03/2023
31/03/2025 31/03/2024
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 0 0
equipment
Acquisitions through business
combinations, property, plant and 0 0
equipment
Increase (decrease) through net
exchange differences, property, 0 0
plant and equipment
Revaluation increase (decrease),
0 0
property, plant and equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through
transfers, property, plant and 0 0
equipment
Increase (decrease) through other
changes, property, plant and 0 0
equipment
Total increase (decrease) through
transfers and other changes, property, 0 0
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
0 0
equipment
Retirements, property, plant and
0 0
equipment
Total disposals and retirements,
0 0
property, plant and equipment
Decrease through classified as held
for sale, property, plant and 0 0
equipment
Decrease through loss of control of
subsidiary, property, plant and 0 0
equipment
Total increase (decrease) in property,
0 0
plant and equipment
Property, plant and equipment at end of
1 2 2 2
period

92
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Disclosure of detailed information about property, plant and equipment [Table] ..(16)
Unless otherwise specified, all monetary values are in Millions of INR
Furniture and
Classes of property, plant and equipment [Axis] Other plant and equipment [Member]
fixtures [Member]
Owned assets
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
[Member]
Carrying amount accumulated depreciation and gross carrying Carrying amount
Accumulated depreciation and impairment [Member]
amount [Axis] [Member]
01/04/2024 01/04/2023 01/04/2024
to to 31/03/2023 to
31/03/2025 31/03/2024 31/03/2025
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 4
equipment
Acquisitions through business
combinations, property, plant and 0
equipment
Increase (decrease) through net
exchange differences, property, 0
plant and equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
0 1 -3
loss
Depreciation recognised as part of
0 0 0
cost of other assets
Total Depreciation property plant and
0 1 -3
equipment
Impairment loss recognised in profit
or loss, property, plant and 0 0 0
equipment
Reversal of impairment loss
recognised in profit or loss, 0 0 0
property, plant and equipment
Revaluation increase (decrease),
0
property, plant and equipment
Impairment loss recognised in other
comprehensive income, property, plant and 0 0 0
equipment
Reversal of impairment loss recognised
in other comprehensive income, property, 0 0 0
plant and equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through
transfers, property, plant and 0 0 0
equipment
Increase (decrease) through other
changes, property, plant and 0 0 0
equipment
Total increase (decrease) through
transfers and other changes, property, 0 0 0
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
0 0 1
equipment
Retirements, property, plant and
0 0 0
equipment
Total disposals and retirements,
0 0 1
property, plant and equipment
Decrease through classified as held
for sale, property, plant and 0 0 0
equipment

93
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Decrease through loss of control of

subsidiary, property, plant and 0 0 0
equipment
Total increase (decrease) in property,
0 1 0
plant and equipment
Property, plant and equipment at end of
2 2 1 5
period

94
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Disclosure of detailed information about property, plant and equipment [Table] ..(17)
Unless otherwise specified, all monetary values are in Millions of INR
Classes of property, plant and equipment [Axis] Furniture and fixtures [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
Carrying amount accumulated depreciation and gross carrying
Carrying amount [Member] Gross carrying amount [Member]
amount [Axis]
01/04/2023 01/04/2024 01/04/2023
to 31/03/2023 to to
31/03/2024 31/03/2025 31/03/2024
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 4 4 4
equipment
Acquisitions through business
combinations, property, plant and 0 0 0
equipment
Increase (decrease) through net
exchange differences, property, 0 0 0
plant and equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
-2
loss
Depreciation recognised as part of
0
cost of other assets
Total Depreciation property plant and
-2
equipment
Impairment loss recognised in profit
or loss, property, plant and 0
equipment
Reversal of impairment loss
recognised in profit or loss, 0
property, plant and equipment
Revaluation increase (decrease),
0 0 0
property, plant and equipment
Impairment loss recognised in other
comprehensive income, property, plant and 0
equipment
Reversal of impairment loss recognised
in other comprehensive income, property, 0
plant and equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through
transfers, property, plant and 0 0 0
equipment
Increase (decrease) through other
changes, property, plant and 0 0 0
equipment
Total increase (decrease) through
transfers and other changes, property, 0 0 0
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
0 1 8
equipment
Retirements, property, plant and
0 0 0
equipment
Total disposals and retirements,
0 1 8
property, plant and equipment
Decrease through classified as held
for sale, property, plant and 0 0 0
equipment
Decrease through loss of control of
subsidiary, property, plant and 0 0 0
equipment

95
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Total increase (decrease) in property,

2 3 -4
plant and equipment
Property, plant and equipment at end of
5 3 32 29
period

Disclosure of detailed information about property, plant and equipment [Table] ..(18)
Unless otherwise specified, all monetary values are in Millions of INR
Classes of property, plant and equipment [Axis] Furniture and fixtures [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
Carrying amount accumulated depreciation and gross carrying Gross carrying
Accumulated depreciation and impairment [Member]
amount [Axis] amount [Member]
01/04/2024 01/04/2023
31/03/2023 to to 31/03/2023
31/03/2025 31/03/2024
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
3 2
loss
Depreciation recognised as part of
0 0
cost of other assets
Total Depreciation property plant and
3 2
equipment
Impairment loss recognised in profit
or loss, property, plant and 0 0
equipment
Reversal of impairment loss
recognised in profit or loss, 0 0
property, plant and equipment
Impairment loss recognised in other
comprehensive income, property, plant and 0 0
equipment
Reversal of impairment loss recognised
in other comprehensive income, property, 0 0
plant and equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through
transfers, property, plant and 0 0
equipment
Increase (decrease) through other
changes, property, plant and 0 0
equipment
Total increase (decrease) through
transfers and other changes, property, 0 0
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
0 8
equipment
Retirements, property, plant and
0 0
equipment
Total disposals and retirements,
0 8
property, plant and equipment
Decrease through classified as held
for sale, property, plant and 0 0
equipment
Decrease through loss of control of
subsidiary, property, plant and 0 0
equipment
Total increase (decrease) in property,
3 -6
plant and equipment
Property, plant and equipment at end of
33 27 24 30
period

96
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Disclosure of detailed information about property, plant and equipment [Table] ..(19)
Unless otherwise specified, all monetary values are in Millions of INR
Classes of property, plant and equipment [Axis] Vehicles [Member]
Sub classes of property, plant and equipment [Axis] Assets held under lease [Member]
Carrying amount accumulated depreciation and gross carrying Gross carrying
Carrying amount [Member]
amount [Axis] amount [Member]
01/04/2024 01/04/2023 01/04/2024
to to 31/03/2023 to
31/03/2025 31/03/2024 31/03/2025
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 35 44 35
equipment
Acquisitions through business
combinations, property, plant and 0 0 0
equipment
Increase (decrease) through net
exchange differences, property, 0 0 0
plant and equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
-41 -40
loss
Depreciation recognised as part of
0 0
cost of other assets
Total Depreciation property plant and
-41 -40
equipment
Impairment loss recognised in profit
or loss, property, plant and 0 0
equipment
Reversal of impairment loss
recognised in profit or loss, 0 0
property, plant and equipment
Revaluation increase (decrease),
0 0 0
property, plant and equipment
Impairment loss recognised in other
comprehensive income, property, plant and 0 0
equipment
Reversal of impairment loss recognised
in other comprehensive income, property, 0 0
plant and equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through
transfers, property, plant and 0 0 0
equipment
Increase (decrease) through other
changes, property, plant and 0 0 0
equipment
Total increase (decrease) through
transfers and other changes, property, 0 0 0
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
3 8 31
equipment
Retirements, property, plant and
0 0 0
equipment
Total disposals and retirements,
3 8 31
property, plant and equipment
Decrease through classified as held
for sale, property, plant and 0 0 0
equipment
Decrease through loss of control of
subsidiary, property, plant and 0 0 0
equipment

97
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Total increase (decrease) in property,

-9 -4 4
plant and equipment
Property, plant and equipment at end of
40 49 53 110
period

98
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Disclosure of detailed information about property, plant and equipment [Table] ..(20)
Unless otherwise specified, all monetary values are in Millions of INR
Classes of property, plant and equipment [Axis] Vehicles [Member]
Sub classes of property, plant and equipment [Axis] Assets held under lease [Member]
Carrying amount accumulated depreciation and gross carrying Accumulated depreciation and
Gross carrying amount [Member]
amount [Axis] impairment [Member]
01/04/2023 01/04/2024 01/04/2023
to 31/03/2023 to to
31/03/2024 31/03/2025 31/03/2024
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 44
equipment
Acquisitions through business
combinations, property, plant and 0
equipment
Increase (decrease) through net
exchange differences, property, 0
plant and equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
41 40
loss
Depreciation recognised as part of
0 0
cost of other assets
Total Depreciation property plant and
41 40
equipment
Impairment loss recognised in profit
or loss, property, plant and 0 0
equipment
Reversal of impairment loss
recognised in profit or loss, 0 0
property, plant and equipment
Revaluation increase (decrease),
0
property, plant and equipment
Impairment loss recognised in other
comprehensive income, property, plant and 0 0
equipment
Reversal of impairment loss recognised
in other comprehensive income, property, 0 0
plant and equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through
transfers, property, plant and 0 0 0
equipment
Increase (decrease) through other
changes, property, plant and 0 0 0
equipment
Total increase (decrease) through
transfers and other changes, property, 0 0 0
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
12 28 4
equipment
Retirements, property, plant and
0 0 0
equipment
Total disposals and retirements,
12 28 4
property, plant and equipment
Decrease through classified as held
for sale, property, plant and 0 0 0
equipment
Decrease through loss of control of
subsidiary, property, plant and 0 0 0
equipment

99
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Total increase (decrease) in property,

32 13 36
plant and equipment
Property, plant and equipment at end of
106 74 70 57
period

100
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Disclosure of detailed information about property, plant and equipment [Table] ..(21)
Unless otherwise specified, all monetary values are in Millions of INR
Classes of property, plant and equipment [Axis] Vehicles [Member] Motor vehicles [Member]
Assets held under
Sub classes of property, plant and equipment [Axis] Assets held under lease [Member]
lease [Member]
Accumulated
Carrying amount accumulated depreciation and gross carrying depreciation and
Carrying amount [Member]
amount [Axis] impairment
[Member]
01/04/2024 01/04/2023
31/03/2023 to to 31/03/2023
31/03/2025 31/03/2024
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 35 44
equipment
Acquisitions through business
combinations, property, plant and 0 0
equipment
Increase (decrease) through net
exchange differences, property, 0 0
plant and equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
-41 -40
loss
Depreciation recognised as part of
0 0
cost of other assets
Total Depreciation property plant and
-41 -40
equipment
Impairment loss recognised in profit
or loss, property, plant and 0 0
equipment
Reversal of impairment loss
recognised in profit or loss, 0 0
property, plant and equipment
Revaluation increase (decrease),
0 0
property, plant and equipment
Impairment loss recognised in other
comprehensive income, property, plant and 0 0
equipment
Reversal of impairment loss recognised
in other comprehensive income, property, 0 0
plant and equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through
transfers, property, plant and 0 0
equipment
Increase (decrease) through other
changes, property, plant and 0 0
equipment
Total increase (decrease) through
transfers and other changes, property, 0 0
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
3 8
equipment
Retirements, property, plant and
0 0
equipment
Total disposals and retirements,
3 8
property, plant and equipment
Decrease through classified as held
for sale, property, plant and 0 0
equipment

101
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Decrease through loss of control of

subsidiary, property, plant and 0 0
equipment
Total increase (decrease) in property,
-9 -4
plant and equipment
Property, plant and equipment at end of
21 40 49 53
period

102
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Disclosure of detailed information about property, plant and equipment [Table] ..(22)
Unless otherwise specified, all monetary values are in Millions of INR
Classes of property, plant and equipment [Axis] Motor vehicles [Member]
Sub classes of property, plant and equipment [Axis] Assets held under lease [Member]
Accumulated
Carrying amount accumulated depreciation and gross carrying depreciation and
Gross carrying amount [Member]
amount [Axis] impairment
[Member]
01/04/2024 01/04/2023 01/04/2024
to to 31/03/2023 to
31/03/2025 31/03/2024 31/03/2025
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 35 44
equipment
Acquisitions through business
combinations, property, plant and 0 0
equipment
Increase (decrease) through net
exchange differences, property, 0 0
plant and equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
41
loss
Depreciation recognised as part of
0
cost of other assets
Total Depreciation property plant and
41
equipment
Impairment loss recognised in profit
or loss, property, plant and 0
equipment
Reversal of impairment loss
recognised in profit or loss, 0
property, plant and equipment
Revaluation increase (decrease),
0 0
property, plant and equipment
Impairment loss recognised in other
comprehensive income, property, plant and 0
equipment
Reversal of impairment loss recognised
in other comprehensive income, property, 0
plant and equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through
transfers, property, plant and 0 0 0
equipment
Increase (decrease) through other
changes, property, plant and 0 0 0
equipment
Total increase (decrease) through
transfers and other changes, property, 0 0 0
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
31 12 28
equipment
Retirements, property, plant and
0 0 0
equipment
Total disposals and retirements,
31 12 28
property, plant and equipment
Decrease through classified as held
for sale, property, plant and 0 0 0
equipment

103
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Decrease through loss of control of

subsidiary, property, plant and 0 0 0
equipment
Total increase (decrease) in property,
4 32 13
plant and equipment
Property, plant and equipment at end of
110 106 74 70
period

104
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Disclosure of detailed information about property, plant and equipment [Table] ..(23)
Unless otherwise specified, all monetary values are in Millions of INR
Classes of property, plant and equipment [Axis] Motor vehicles [Member] Office equipment [Member]
Sub classes of property, plant and equipment [Axis] Assets held under lease [Member] Owned assets [Member]
Carrying amount accumulated depreciation and gross carrying Accumulated depreciation and
Carrying amount [Member]
amount [Axis] impairment [Member]
01/04/2023 01/04/2024 01/04/2023
to 31/03/2023 to to
31/03/2024 31/03/2025 31/03/2024
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 25 23
equipment
Acquisitions through business
combinations, property, plant and 0 0
equipment
Increase (decrease) through net
exchange differences, property, 0 0
plant and equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
40 -15 -12
loss
Depreciation recognised as part of
0 0 0
cost of other assets
Total Depreciation property plant and
40 -15 -12
equipment
Impairment loss recognised in profit
or loss, property, plant and 0 0 0
equipment
Reversal of impairment loss
recognised in profit or loss, 0 0 0
property, plant and equipment
Revaluation increase (decrease),
0 0
property, plant and equipment
Impairment loss recognised in other
comprehensive income, property, plant and 0 0 0
equipment
Reversal of impairment loss recognised
in other comprehensive income, property, 0 0 0
plant and equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through
transfers, property, plant and 0 0 0
equipment
Increase (decrease) through other
changes, property, plant and 0 0 0
equipment
Total increase (decrease) through
transfers and other changes, property, 0 0 0
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
4 1 0
equipment
Retirements, property, plant and
0 0 0
equipment
Total disposals and retirements,
4 1 0
property, plant and equipment
Decrease through classified as held
for sale, property, plant and 0 0 0
equipment
Decrease through loss of control of
subsidiary, property, plant and 0 0 0
equipment

105
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Total increase (decrease) in property,

36 9 11
plant and equipment
Property, plant and equipment at end of
57 21 57 48
period

Disclosure of detailed information about property, plant and equipment [Table] ..(24)
Unless otherwise specified, all monetary values are in Millions of INR
Classes of property, plant and equipment [Axis] Office equipment [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
Carrying amount accumulated depreciation and gross carrying Carrying amount
Gross carrying amount [Member]
amount [Axis] [Member]
01/04/2024 01/04/2023
31/03/2023 to to 31/03/2023
31/03/2025 31/03/2024
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 25 23
equipment
Acquisitions through business
combinations, property, plant and 0 0
equipment
Increase (decrease) through net
exchange differences, property, 0 0
plant and equipment
Revaluation increase (decrease),
0 0
property, plant and equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through
transfers, property, plant and 0 0
equipment
Increase (decrease) through other
changes, property, plant and 0 0
equipment
Total increase (decrease) through
transfers and other changes, property, 0 0
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
2 3
equipment
Retirements, property, plant and
0 0
equipment
Total disposals and retirements,
2 3
property, plant and equipment
Decrease through classified as held
for sale, property, plant and 0 0
equipment
Decrease through loss of control of
subsidiary, property, plant and 0 0
equipment
Total increase (decrease) in property,
23 20
plant and equipment
Property, plant and equipment at end of
37 143 120 100
period

106
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Disclosure of detailed information about property, plant and equipment [Table] ..(25)
Unless otherwise specified, all monetary values are in Millions of INR
Computer
Classes of property, plant and equipment [Axis] Office equipment [Member] equipments
[Member]
Owned assets
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
[Member]
Carrying amount accumulated depreciation and gross carrying Carrying amount
Accumulated depreciation and impairment [Member]
amount [Axis] [Member]
01/04/2024 01/04/2023 01/04/2024
to to 31/03/2023 to
31/03/2025 31/03/2024 31/03/2025
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 76
equipment
Acquisitions through business
combinations, property, plant and 0
equipment
Increase (decrease) through net
exchange differences, property, 0
plant and equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
15 12 -110
loss
Depreciation recognised as part of
0 0 0
cost of other assets
Total Depreciation property plant and
15 12 -110
equipment
Impairment loss recognised in profit
or loss, property, plant and 0 0 0
equipment
Reversal of impairment loss
recognised in profit or loss, 0 0 0
property, plant and equipment
Revaluation increase (decrease),
0
property, plant and equipment
Impairment loss recognised in other
comprehensive income, property, plant and 0 0 0
equipment
Reversal of impairment loss recognised
in other comprehensive income, property, 0 0 0
plant and equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through
transfers, property, plant and 0 0 0
equipment
Increase (decrease) through other
changes, property, plant and 0 0 0
equipment
Total increase (decrease) through
transfers and other changes, property, 0 0 0
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
1 3 1
equipment
Retirements, property, plant and
0 0 0
equipment
Total disposals and retirements,
1 3 1
property, plant and equipment
Decrease through classified as held
for sale, property, plant and 0 0 0
equipment

107
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Decrease through loss of control of

subsidiary, property, plant and 0 0 0
equipment
Total increase (decrease) in property,
14 9 -35
plant and equipment
Property, plant and equipment at end of
86 72 63 91
period

108
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Disclosure of detailed information about property, plant and equipment [Table] ..(26)
Unless otherwise specified, all monetary values are in Millions of INR
Classes of property, plant and equipment [Axis] Computer equipments [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
Carrying amount accumulated depreciation and gross carrying
Carrying amount [Member] Gross carrying amount [Member]
amount [Axis]
01/04/2023 01/04/2024 01/04/2023
to 31/03/2023 to to
31/03/2024 31/03/2025 31/03/2024
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 8 76 8
equipment
Acquisitions through business
combinations, property, plant and 0 0 0
equipment
Increase (decrease) through net
exchange differences, property, 0 0 0
plant and equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
-172
loss
Depreciation recognised as part of
0
cost of other assets
Total Depreciation property plant and
-172
equipment
Impairment loss recognised in profit
or loss, property, plant and 0
equipment
Reversal of impairment loss
recognised in profit or loss, 0
property, plant and equipment
Revaluation increase (decrease),
0 0 0
property, plant and equipment
Impairment loss recognised in other
comprehensive income, property, plant and 0
equipment
Reversal of impairment loss recognised
in other comprehensive income, property, 0
plant and equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through
transfers, property, plant and 0 0 0
equipment
Increase (decrease) through other
changes, property, plant and 0 0 0
equipment
Total increase (decrease) through
transfers and other changes, property, 0 0 0
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
0 2 52
equipment
Retirements, property, plant and
0 0 0
equipment
Total disposals and retirements,
0 2 52
property, plant and equipment
Decrease through classified as held
for sale, property, plant and 0 0 0
equipment
Decrease through loss of control of
subsidiary, property, plant and 0 0 0
equipment

109
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Total increase (decrease) in property,

-164 74 -44
plant and equipment
Property, plant and equipment at end of
126 290 1,069 995
period

Disclosure of detailed information about property, plant and equipment [Table] ..(27)
Unless otherwise specified, all monetary values are in Millions of INR
Classes of property, plant and equipment [Axis] Computer equipments [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
Carrying amount accumulated depreciation and gross carrying Gross carrying
Accumulated depreciation and impairment [Member]
amount [Axis] amount [Member]
01/04/2024 01/04/2023
31/03/2023 to to 31/03/2023
31/03/2025 31/03/2024
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
110 172
loss
Depreciation recognised as part of
0 0
cost of other assets
Total Depreciation property plant and
110 172
equipment
Impairment loss recognised in profit
or loss, property, plant and 0 0
equipment
Reversal of impairment loss
recognised in profit or loss, 0 0
property, plant and equipment
Impairment loss recognised in other
comprehensive income, property, plant and 0 0
equipment
Reversal of impairment loss recognised
in other comprehensive income, property, 0 0
plant and equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through
transfers, property, plant and 0 0
equipment
Increase (decrease) through other
changes, property, plant and 0 0
equipment
Total increase (decrease) through
transfers and other changes, property, 0 0
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
1 52
equipment
Retirements, property, plant and
0 0
equipment
Total disposals and retirements,
1 52
property, plant and equipment
Decrease through classified as held
for sale, property, plant and 0 0
equipment
Decrease through loss of control of
subsidiary, property, plant and 0 0
equipment
Total increase (decrease) in property,
109 120
plant and equipment
Property, plant and equipment at end of
1,039 978 869 749
period

110
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

[612100] Notes - Impairment of assets

Unless otherwise specified, all monetary values are in Millions of INR
01/04/2024 01/04/2023
to to
31/03/2025 31/03/2024
Disclosure of impairment of assets [TextBlock]
Disclosure of impairment loss and reversal of impairment loss [TextBlock]
Whether there is any impairment loss or reversal of impairment loss
No No
during the year
Disclosure of information for impairment loss recognised or reversed
for individual Assets or cash-generating unit [TextBlock]
Whether impairment loss recognised or reversed for individual Assets
No No
or cash-generating unit
Disclosure of information for cash-generating units [TextBlock]
Disclosure of information for cash-generating units [Abstract]

[400700] Notes - Investment property

Unless otherwise specified, all monetary values are in Millions of INR
01/04/2024 01/04/2023
to to
31/03/2025 31/03/2024
Disclosure of investment property [TextBlock]
Depreciation method, investment property, cost model Not Applicable Not Applicable
Useful lives or depreciation rates, investment property, cost model Not Applicable Not Applicable

[400800] Notes - Goodwill

Disclosure of reconciliation of changes in goodwill [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Carrying amount accumulated amortization and impairment and Gross carrying
Carrying amount [Member]
gross carrying amount [Axis] amount [Member]
31/03/2025 31/03/2024 31/03/2023 31/03/2025
Disclosure of reconciliation of changes in goodwill
[Abstract]
Disclosure of reconciliation of changes in goodwill
[Line items]
Goodwill at end of period 768 768 768 768

Disclosure of reconciliation of changes in goodwill [Table] ..(2)

Unless otherwise specified, all monetary values are in Millions of INR
Carrying amount accumulated amortization and impairment and Accumulated amortization and
Gross carrying amount [Member]
gross carrying amount [Axis] impairment [Member]
31/03/2024 31/03/2023 31/03/2025 31/03/2024
Disclosure of reconciliation of changes in goodwill
[Abstract]
Disclosure of reconciliation of changes in goodwill
[Line items]
Goodwill at end of period 768 768 0 0

Disclosure of reconciliation of changes in goodwill [Table] ..(3)

Unless otherwise specified, all monetary values are in Millions of INR
Accumulated
amortization and
Carrying amount accumulated amortization and impairment and gross carrying amount [Axis]
impairment
[Member]
31/03/2023
Disclosure of reconciliation of changes in goodwill [Abstract]
Disclosure of reconciliation of changes in goodwill [Line items]
Goodwill at end of period 0

111
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Unless otherwise specified, all monetary values are in Millions of INR

01/04/2024
to 31/03/2024 31/03/2023
31/03/2025
Textual information (6)
Disclosure of goodwill [TextBlock] [See below]
Disclosure of reconciliation of changes in goodwill [Abstract]
Goodwill at end of period 768 768 768

Textual information (6)

Disclosure of goodwill [Text Block]

32. Goodwill
Goodwill is tested for impairment annually in accordance with the Group’s procedure for determining the recoverable value of
such assets. The recoverable amount of the CGU has been measured based on their value in use. The value in use is
determined based on discounted cash flow projections.
Key assumptions basis which the Group has based its determination of value in use includes:
- Estimated cash flow of 5 years based on formal/ approved internal management budgets with extrapolation for the
remaining period, wherever the budgets were shorter than 5 years’ period.
- The cash flow has been extrapolated for the next 17 years based on the estimated cash flows of initial 5 years.
- Terminal value arrived by extrapolating last forecasted year cash flow to perpetuity using long term growth rates. These
long-term growth rates take into consideration external macroeconomics sources of data.
- The discount rates used are based on weighted average cost of capital. The management also believes there is no major
change in environment.
- Value in use is calculated using after tax assumptions. The use of after-tax assumptions does not result in a value in use
that is materially different from the value in use that would result if the calculation was performed using before tax
assumptions.

List of key assumptions used in the value in use calculations are as given below:

As at As at
Assumptions
March 31, 2025 March 31, 2024
Long term growth rate 5% 5%
Discount rate 16% 16%

An analysis of the calculation’s sensitivity to a change in the key parameters (discount rate and long-term growth rate) based on reasonably
probable assumptions, did not identify any probable scenarios where the recoverable amount would fall below its carrying amount.

112
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

[400900] Notes - Other intangible assets

Disclosure of detailed information about other intangible assets [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Classes of other intangible assets [Axis] Company other intangible assets [Member]
Internally generated and other than internally generated intangible assets
Sub classes of other intangible assets [Axis]
[Member]
Carrying amount accumulated amortization and impairment and Gross carrying
Carrying amount [Member]
gross carrying amount [Axis] amount [Member]
01/04/2024 01/04/2023 01/04/2024
to to 31/03/2023 to
31/03/2025 31/03/2024 31/03/2025
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Additions other than through business
0 0 0
combinations
Acquisitions through business combinations 0 0 0
Increase (decrease) through net exchange
0 0 0
differences
Amortisation other intangible assets -7 -7
Impairment loss recognised in profit or
0 0
loss
Reversal of impairment loss recognised
0 0
in profit or loss
Revaluation increase (decrease), other
0 0 0
intangible assets
Impairment loss recognised in other
comprehensive income, other intangible 0 0
assets
Reversal of impairment loss recognised in
other comprehensive income, other 0 0
intangible assets
Increase (decrease) through
transfers and other changes, other
intangible assets [Abstract]
Increase (decrease) through
0 0 0
transfers, other intangible assets
Increase (decrease) through other
0 0 0
changes
Total increase (decrease) through
transfers and other changes, Other 0 0 0
intangible assets
Disposals and retirements, other
intangible assets [Abstract]
Disposals 0 0 0
Retirements 0 0 0
Total Disposals and retirements,
0 0 0
Other intangible assets
Decrease through classified as held for
0 0 0
sale
Decrease through loss of control of
0 0 0
subsidiary
Total increase (decrease) in Other
-7 -7 0
intangible assets
Other intangible assets at end of period 420 427 434 1,664

113
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Disclosure of detailed information about other intangible assets [Table] ..(2)

Unless otherwise specified, all monetary values are in Millions of INR
Classes of other intangible assets [Axis] Company other intangible assets [Member]
Internally generated and other than internally generated intangible assets
Sub classes of other intangible assets [Axis]
[Member]
Carrying amount accumulated amortization and impairment and Accumulated amortization and
Gross carrying amount [Member]
gross carrying amount [Axis] impairment [Member]
01/04/2023 01/04/2024 01/04/2023
to 31/03/2023 to to
31/03/2024 31/03/2025 31/03/2024
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Additions other than through business
0
combinations
Acquisitions through business combinations 0
Increase (decrease) through net exchange
0
differences
Amortisation other intangible assets 7 7
Impairment loss recognised in profit or
0 0
loss
Reversal of impairment loss recognised
0 0
in profit or loss
Revaluation increase (decrease), other
0
intangible assets
Impairment loss recognised in other
comprehensive income, other intangible 0 0
assets
Reversal of impairment loss recognised in
other comprehensive income, other 0 0
intangible assets
Increase (decrease) through
transfers and other changes, other
intangible assets [Abstract]
Increase (decrease) through
0 0 0
transfers, other intangible assets
Increase (decrease) through other
0 0 0
changes
Total increase (decrease) through
transfers and other changes, Other 0 0 0
intangible assets
Disposals and retirements, other
intangible assets [Abstract]
Disposals 1 0 1
Retirements 0 0 0
Total Disposals and retirements,
1 0 1
Other intangible assets
Decrease through classified as held for
0 0 0
sale
Decrease through loss of control of
0 0 0
subsidiary
Total increase (decrease) in Other
-1 7 6
intangible assets
Other intangible assets at end of period 1,664 1,665 1,244 1,237

114
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Disclosure of detailed information about other intangible assets [Table] ..(3)

Unless otherwise specified, all monetary values are in Millions of INR
Company other
Classes of other intangible assets [Axis] intangible assets Brands and trade marks [Member]
[Member]
Internally
generated and
other than
Sub classes of other intangible assets [Axis] internally Intangible assets other than internally generated [Member]
generated
intangible assets
[Member]
Accumulated
Carrying amount accumulated amortization and impairment and amortization and
Carrying amount [Member]
gross carrying amount [Axis] impairment
[Member]
01/04/2024 01/04/2023
31/03/2023 to to 31/03/2023
31/03/2025 31/03/2024
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Additions other than through business
0 0
combinations
Acquisitions through business combinations 0 0
Increase (decrease) through net exchange
0 0
differences
Amortisation other intangible assets -7 -7
Impairment loss recognised in profit or
0 0
loss
Reversal of impairment loss recognised
0 0
in profit or loss
Revaluation increase (decrease), other
0 0
intangible assets
Impairment loss recognised in other
comprehensive income, other intangible 0 0
assets
Reversal of impairment loss recognised in
other comprehensive income, other 0 0
intangible assets
Increase (decrease) through
transfers and other changes, other
intangible assets [Abstract]
Increase (decrease) through
0 0
transfers, other intangible assets
Increase (decrease) through other
0 0
changes
Total increase (decrease) through
transfers and other changes, Other 0 0
intangible assets
Disposals and retirements, other
intangible assets [Abstract]
Disposals 0 0
Retirements 0 0
Total Disposals and retirements,
0 0
Other intangible assets
Decrease through classified as held for
0 0
sale
Decrease through loss of control of
0 0
subsidiary
Total increase (decrease) in Other
-7 -7
intangible assets
Other intangible assets at end of period 1,231 420 427 434

115
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Disclosure of detailed information about other intangible assets [Table] ..(4)

Unless otherwise specified, all monetary values are in Millions of INR
Classes of other intangible assets [Axis] Brands and trade marks [Member]
Sub classes of other intangible assets [Axis] Intangible assets other than internally generated [Member]
Accumulated
Carrying amount accumulated amortization and impairment and amortization and
Gross carrying amount [Member]
gross carrying amount [Axis] impairment
[Member]
01/04/2024 01/04/2023 01/04/2024
to to 31/03/2023 to
31/03/2025 31/03/2024 31/03/2025
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Additions other than through business
0 0
combinations
Acquisitions through business combinations 0 0
Increase (decrease) through net exchange
0 0
differences
Amortisation other intangible assets 7
Impairment loss recognised in profit or
0
loss
Reversal of impairment loss recognised
0
in profit or loss
Revaluation increase (decrease), other
0 0
intangible assets
Impairment loss recognised in other
comprehensive income, other intangible 0
assets
Reversal of impairment loss recognised in
other comprehensive income, other 0
intangible assets
Increase (decrease) through
transfers and other changes, other
intangible assets [Abstract]
Increase (decrease) through
0 0 0
transfers, other intangible assets
Increase (decrease) through other
0 0 0
changes
Total increase (decrease) through
transfers and other changes, Other 0 0 0
intangible assets
Disposals and retirements, other
intangible assets [Abstract]
Disposals 0 0 0
Retirements 0 0 0
Total Disposals and retirements,
0 0 0
Other intangible assets
Decrease through classified as held for
0 0 0
sale
Decrease through loss of control of
0 0 0
subsidiary
Total increase (decrease) in Other
0 0 7
intangible assets
Other intangible assets at end of period 464 464 464 44

116
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Disclosure of detailed information about other intangible assets [Table] ..(5)

Unless otherwise specified, all monetary values are in Millions of INR
Classes of other intangible assets [Axis] Brands and trade marks [Member] Brands [Member]
Intangible assets other than internally Intangible assets other than internally
Sub classes of other intangible assets [Axis]
generated [Member] generated [Member]
Carrying amount accumulated amortization and impairment and Accumulated amortization and
Carrying amount [Member]
gross carrying amount [Axis] impairment [Member]
01/04/2023 01/04/2024 01/04/2023
to 31/03/2023 to to
31/03/2024 31/03/2025 31/03/2024
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Additions other than through business
0 0
combinations
Acquisitions through business combinations 0 0
Increase (decrease) through net exchange
0 0
differences
Amortisation other intangible assets 7 -7 -7
Impairment loss recognised in profit or
0 0 0
loss
Reversal of impairment loss recognised
0 0 0
in profit or loss
Revaluation increase (decrease), other
0 0
intangible assets
Impairment loss recognised in other
comprehensive income, other intangible 0 0 0
assets
Reversal of impairment loss recognised in
other comprehensive income, other 0 0 0
intangible assets
Increase (decrease) through
transfers and other changes, other
intangible assets [Abstract]
Increase (decrease) through
0 0 0
transfers, other intangible assets
Increase (decrease) through other
0 0 0
changes
Total increase (decrease) through
transfers and other changes, Other 0 0 0
intangible assets
Disposals and retirements, other
intangible assets [Abstract]
Disposals 0 0 0
Retirements 0 0 0
Total Disposals and retirements,
0 0 0
Other intangible assets
Decrease through classified as held for
0 0 0
sale
Decrease through loss of control of
0 0 0
subsidiary
Total increase (decrease) in Other
7 -7 -7
intangible assets
Other intangible assets at end of period 37 30 420 427

117
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Disclosure of detailed information about other intangible assets [Table] ..(6)

Unless otherwise specified, all monetary values are in Millions of INR
Classes of other intangible assets [Axis] Brands [Member]
Sub classes of other intangible assets [Axis] Intangible assets other than internally generated [Member]
Carrying amount accumulated amortization and impairment and Carrying amount
Gross carrying amount [Member]
gross carrying amount [Axis] [Member]
01/04/2024 01/04/2023
31/03/2023 to to 31/03/2023
31/03/2025 31/03/2024
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Additions other than through business
0 0
combinations
Acquisitions through business combinations 0 0
Increase (decrease) through net exchange
0 0
differences
Revaluation increase (decrease), other
0 0
intangible assets
Increase (decrease) through
transfers and other changes, other
intangible assets [Abstract]
Increase (decrease) through
0 0
transfers, other intangible assets
Increase (decrease) through other
0 0
changes
Total increase (decrease) through
transfers and other changes, Other 0 0
intangible assets
Disposals and retirements, other
intangible assets [Abstract]
Disposals 0 0
Retirements 0 0
Total Disposals and retirements,
0 0
Other intangible assets
Decrease through classified as held for
0 0
sale
Decrease through loss of control of
0 0
subsidiary
Total increase (decrease) in Other
0 0
intangible assets
Other intangible assets at end of period 434 464 464 464

118
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Disclosure of detailed information about other intangible assets [Table] ..(7)

Unless otherwise specified, all monetary values are in Millions of INR
Computer
Classes of other intangible assets [Axis] Brands [Member]
software [Member]
Internally
generated
Sub classes of other intangible assets [Axis] Intangible assets other than internally generated [Member]
intangible assets
[Member]
Carrying amount accumulated amortization and impairment and Carrying amount
Accumulated amortization and impairment [Member]
gross carrying amount [Axis] [Member]
01/04/2024 01/04/2023 01/04/2024
to to 31/03/2023 to
31/03/2025 31/03/2024 31/03/2025
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Additions other than through business
0
combinations
Acquisitions through business combinations 0
Increase (decrease) through net exchange
0
differences
Amortisation other intangible assets 7 7 0
Impairment loss recognised in profit or
0 0 0
loss
Reversal of impairment loss recognised
0 0 0
in profit or loss
Revaluation increase (decrease), other
0
intangible assets
Impairment loss recognised in other
comprehensive income, other intangible 0 0 0
assets
Reversal of impairment loss recognised in
other comprehensive income, other 0 0 0
intangible assets
Increase (decrease) through
transfers and other changes, other
intangible assets [Abstract]
Increase (decrease) through
0 0 0
transfers, other intangible assets
Increase (decrease) through other
0 0 0
changes
Total increase (decrease) through
transfers and other changes, Other 0 0 0
intangible assets
Disposals and retirements, other
intangible assets [Abstract]
Disposals 0 0 0
Retirements 0 0 0
Total Disposals and retirements,
0 0 0
Other intangible assets
Decrease through classified as held for
0 0 0
sale
Decrease through loss of control of
0 0 0
subsidiary
Total increase (decrease) in Other
7 7 0
intangible assets
Other intangible assets at end of period 44 37 30 0

119
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Disclosure of detailed information about other intangible assets [Table] ..(8)

Unless otherwise specified, all monetary values are in Millions of INR
Classes of other intangible assets [Axis] Computer software [Member]
Sub classes of other intangible assets [Axis] Internally generated intangible assets [Member]
Carrying amount accumulated amortization and impairment and
Carrying amount [Member] Gross carrying amount [Member]
gross carrying amount [Axis]
01/04/2023 01/04/2024 01/04/2023
to 31/03/2023 to to
31/03/2024 31/03/2025 31/03/2024
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Additions other than through business
0 0 0
combinations
Acquisitions through business combinations 0 0 0
Increase (decrease) through net exchange
0 0 0
differences
Amortisation other intangible assets 0
Impairment loss recognised in profit or
0
loss
Reversal of impairment loss recognised
0
in profit or loss
Revaluation increase (decrease), other
0 0 0
intangible assets
Impairment loss recognised in other
comprehensive income, other intangible 0
assets
Reversal of impairment loss recognised in
other comprehensive income, other 0
intangible assets
Increase (decrease) through
transfers and other changes, other
intangible assets [Abstract]
Increase (decrease) through
0 0 0
transfers, other intangible assets
Increase (decrease) through other
0 0 0
changes
Total increase (decrease) through
transfers and other changes, Other 0 0 0
intangible assets
Disposals and retirements, other
intangible assets [Abstract]
Disposals 0 0 0
Retirements 0 0 0
Total Disposals and retirements,
0 0 0
Other intangible assets
Decrease through classified as held for
0 0 0
sale
Decrease through loss of control of
0 0 0
subsidiary
Total increase (decrease) in Other
0 0 0
intangible assets
Other intangible assets at end of period 0 0 900 900

120
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Disclosure of detailed information about other intangible assets [Table] ..(9)

Unless otherwise specified, all monetary values are in Millions of INR
Classes of other intangible assets [Axis] Computer software [Member]
Sub classes of other intangible assets [Axis] Internally generated intangible assets [Member]
Carrying amount accumulated amortization and impairment and Gross carrying
Accumulated amortization and impairment [Member]
gross carrying amount [Axis] amount [Member]
01/04/2024 01/04/2023
31/03/2023 to to 31/03/2023
31/03/2025 31/03/2024
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Amortisation other intangible assets 0 0
Impairment loss recognised in profit or
0 0
loss
Reversal of impairment loss recognised
0 0
in profit or loss
Impairment loss recognised in other
comprehensive income, other intangible 0 0
assets
Reversal of impairment loss recognised in
other comprehensive income, other 0 0
intangible assets
Increase (decrease) through
transfers and other changes, other
intangible assets [Abstract]
Increase (decrease) through
0 0
transfers, other intangible assets
Increase (decrease) through other
0 0
changes
Total increase (decrease) through
transfers and other changes, Other 0 0
intangible assets
Disposals and retirements, other
intangible assets [Abstract]
Disposals 0 0
Retirements 0 0
Total Disposals and retirements,
0 0
Other intangible assets
Decrease through classified as held for
0 0
sale
Decrease through loss of control of
0 0
subsidiary
Total increase (decrease) in Other
0 0
intangible assets
Other intangible assets at end of period 900 900 900 900

121
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Disclosure of detailed information about other intangible assets [Table] ..(10)

Unless otherwise specified, all monetary values are in Millions of INR
Classes of other intangible assets [Axis] Computer software [Member]
Sub classes of other intangible assets [Axis] Intangible assets other than internally generated [Member]
Carrying amount accumulated amortization and impairment and Gross carrying
Carrying amount [Member]
gross carrying amount [Axis] amount [Member]
01/04/2024 01/04/2023 01/04/2024
to to 31/03/2023 to
31/03/2025 31/03/2024 31/03/2025
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Additions other than through business
0 0 0
combinations
Acquisitions through business combinations 0 0 0
Increase (decrease) through net exchange
0 0 0
differences
Amortisation other intangible assets 0 0
Impairment loss recognised in profit or
0 0
loss
Reversal of impairment loss recognised
0 0
in profit or loss
Revaluation increase (decrease), other
0 0 0
intangible assets
Impairment loss recognised in other
comprehensive income, other intangible 0 0
assets
Reversal of impairment loss recognised in
other comprehensive income, other 0 0
intangible assets
Increase (decrease) through
transfers and other changes, other
intangible assets [Abstract]
Increase (decrease) through
0 0 0
transfers, other intangible assets
Increase (decrease) through other
0 0 0
changes
Total increase (decrease) through
transfers and other changes, Other 0 0 0
intangible assets
Disposals and retirements, other
intangible assets [Abstract]
Disposals 0 0 0
Retirements 0 0 0
Total Disposals and retirements,
0 0 0
Other intangible assets
Decrease through classified as held for
0 0 0
sale
Decrease through loss of control of
0 0 0
subsidiary
Total increase (decrease) in Other
0 0 0
intangible assets
Other intangible assets at end of period 0 0 0 300

122
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Disclosure of detailed information about other intangible assets [Table] ..(11)

Unless otherwise specified, all monetary values are in Millions of INR
Classes of other intangible assets [Axis] Computer software [Member]
Sub classes of other intangible assets [Axis] Intangible assets other than internally generated [Member]
Carrying amount accumulated amortization and impairment and Accumulated amortization and
Gross carrying amount [Member]
gross carrying amount [Axis] impairment [Member]
01/04/2023 01/04/2024 01/04/2023
to 31/03/2023 to to
31/03/2024 31/03/2025 31/03/2024
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Additions other than through business
0
combinations
Acquisitions through business combinations 0
Increase (decrease) through net exchange
0
differences
Amortisation other intangible assets 0 0
Impairment loss recognised in profit or
0 0
loss
Reversal of impairment loss recognised
0 0
in profit or loss
Revaluation increase (decrease), other
0
intangible assets
Impairment loss recognised in other
comprehensive income, other intangible 0 0
assets
Reversal of impairment loss recognised in
other comprehensive income, other 0 0
intangible assets
Increase (decrease) through
transfers and other changes, other
intangible assets [Abstract]
Increase (decrease) through
0 0 0
transfers, other intangible assets
Increase (decrease) through other
0 0 0
changes
Total increase (decrease) through
transfers and other changes, Other 0 0 0
intangible assets
Disposals and retirements, other
intangible assets [Abstract]
Disposals 1 0 1
Retirements 0 0 0
Total Disposals and retirements,
1 0 1
Other intangible assets
Decrease through classified as held for
0 0 0
sale
Decrease through loss of control of
0 0 0
subsidiary
Total increase (decrease) in Other
-1 0 -1
intangible assets
Other intangible assets at end of period 300 301 300 300

123
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Disclosure of detailed information about other intangible assets [Table] ..(12)

Unless otherwise specified, all monetary values are in Millions of INR
Computer
Classes of other intangible assets [Axis]
software [Member]
Intangible assets
other than
Sub classes of other intangible assets [Axis] internally
generated
[Member]
Accumulated
amortization and
Carrying amount accumulated amortization and impairment and gross carrying amount [Axis]
impairment
[Member]
31/03/2023
Disclosure of detailed information about other intangible assets [Abstract]
Disclosure of detailed information about other intangible assets [Line items]
Reconciliation of changes in other intangible assets [Abstract]
Other intangible assets at end of period 301

Disclosure of additional information about other intangible assets [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Classes of other intangible assets [Axis] Brands and trade marks [Member] Brands [Member]
Intangible assets other than internally Intangible assets other than internally
Sub classes of other intangible assets [Axis]
generated [Member] generated [Member]
01/04/2024 01/04/2023 01/04/2024 01/04/2023
to to to to
31/03/2025 31/03/2024 31/03/2025 31/03/2024
Disclosure of additional information about other
intangible assets [Abstract]
Disclosure of additional information about
other intangible assets [Line items]
Description of line item(s) in statement of Depreciation and Depreciation and
Depreciation and Depreciation and
comprehensive income in which amortisation amortisation
amortisation expense
amortisation
amortisation expense
of intangible assets is included expense expense
Amortisation method, other intangible assets Straight Line Basis Straight Line Basis Straight Line Basis Straight Line Basis
Useful lives or amortisation rates, other
3-15 Years 3-15 Years 3-15 Years 3-15 Years
intangible assets
Effective dates of revaluation, other
0 0 0 0
intangible assets
Whether other intangible assets are stated at
No No No No
revalued amount
Revaluation of intangible assets [Abstract]
Other intangible assets, revalued assets 0 0 0 0
Other intangible assets, revalued assets,
0 0 0 0
at cost
Other intangible assets, revaluation surplus 0 0 0 0

124
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Disclosure of additional information about other intangible assets [Table] ..(2)

Unless otherwise specified, all monetary values are in Millions of INR
Classes of other intangible assets [Axis] Computer software [Member]
Internally generated intangible assets Intangible assets other than internally
Sub classes of other intangible assets [Axis]
[Member] generated [Member]
01/04/2024 01/04/2023 01/04/2024 01/04/2023
to to to to
31/03/2025 31/03/2024 31/03/2025 31/03/2024
Disclosure of additional information about other
intangible assets [Abstract]
Disclosure of additional information about
other intangible assets [Line items]
Description of line item(s) in statement of Depreciation and Depreciation and
Depreciation and Depreciation and
comprehensive income in which amortisation amortisation
amortisation expense
amortisation
amortisation expense
of intangible assets is included expense expense
Amortisation method, other intangible assets Straight Line Basis Straight Line Basis Straight Line Basis Straight Line Basis
Useful lives or amortisation rates, other
2 - 3 Years 2 - 3 Years 2 - 3 Years 2 - 3 Years
intangible assets
Effective dates of revaluation, other
0 0 0 0
intangible assets
Whether other intangible assets are stated at
No No No No
revalued amount
Revaluation of intangible assets [Abstract]
Other intangible assets, revalued assets 0 0 0 0
Other intangible assets, revalued assets,
0 0 0 0
at cost
Other intangible assets, revaluation surplus 0 0 0 0

Disclosure of intangible assets with indefinite useful life [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Intangible assets with indefinite useful life [Axis] 1
01/04/2024 01/04/2023
to to
31/03/2025 31/03/2024
Disclosure of intangible assets with indefinite useful life [Abstract]
Disclosure of intangible assets with indefinite useful life [Line items]
Intangible assets with indefinite useful life (A) 768 (B) 768
Description of intangible assets with indefinite useful life supporting Textual information Textual information
assessment of indefinite useful life (7) [See below] (8) [See below]

Footnotes
(A)

Goodwill (768)

(B)

Goodwill (768)

Unless otherwise specified, all monetary values are in Millions of INR

01/04/2024 01/04/2023
to to
31/03/2025 31/03/2024
Disclosure of other intangible assets [TextBlock]
Disclosure of detailed information about other intangible assets
[TextBlock]
Disclosure of intangible assets with indefinite useful life [TextBlock]
Whether there are intangible assets with indefinite useful life Yes Yes

Textual information (7)

Description of intangible assets with indefinite useful life supporting assessment of indefinite useful life
The Group assesses whether there are any indicators of impairment for all non-financial assets at each reporting date. Goodwill and other
intangible assets with indefinite economic lives are tested for impairment annually and at other times when such indicators exist.

125
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Textual information (8)

Description of intangible assets with indefinite useful life supporting assessment of indefinite useful life
The Group assesses whether there are any indicators of impairment for all non-financial assets at each reporting date. Goodwill and other
intangible assets with indefinite economic lives are tested for impairment annually and at other times when such indicators exist.

[401000] Notes - Biological assets other than bearer plants

Unless otherwise specified, all monetary values are in Millions of INR
01/04/2024 01/04/2023
to to
31/03/2025 31/03/2024
Disclosure of biological assets, agriculture produce at point of
harvest and government grants related to biological assets
[TextBlock]
Depreciation method, biological assets other than bearer plants, at cost Not Applicable Not Applicable
Useful lives or depreciation rates, biological assets other than bearer
Not Applicable Not Applicable
plants, at cost

[611100] Notes - Financial instruments

Disclosure of financial assets [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Financial assets at amortised cost, class
Classes of financial assets [Axis] Trade receivables [Member]
[Member]
Financial assets at amortised cost, Financial assets at amortised cost,
Categories of financial assets [Axis]
category [Member] category [Member]
01/04/2024 01/04/2023
to to 31/03/2025 31/03/2024
31/03/2025 31/03/2024
Disclosure of financial assets [Abstract]
Disclosure of financial assets [Line items]
Financial assets 47,826 43,129 4,191 3,780
Financial assets, at fair value 47,826 43,129 4,191 3,780
Description of other financial assets at
amortised cost class

Disclosure of financial assets [Table] ..(2)

Unless otherwise specified, all monetary values are in Millions of INR
Other financial assets at amortised cost Other financial assets at amortised cost
Classes of financial assets [Axis]
class [Member] class 1 [Member]
Financial assets at amortised cost, Financial assets at amortised cost,
Categories of financial assets [Axis]
category [Member] category [Member]
01/04/2024 01/04/2023 01/04/2024 01/04/2023
to to to to
31/03/2025 31/03/2024 31/03/2025 31/03/2024
Disclosure of financial assets [Abstract]
Disclosure of financial assets [Line items]
Financial assets 43,635 39,349 85 110
Financial assets, at fair value 43,635 39,349 85 110
Description of other financial assets at
Investment Investment
amortised cost class

126
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Disclosure of financial assets [Table] ..(3)

Unless otherwise specified, all monetary values are in Millions of INR
Other financial assets at amortised cost Other financial assets at amortised cost
Classes of financial assets [Axis]
class 2 [Member] class 3 [Member]
Financial assets at amortised cost, Financial assets at amortised cost,
Categories of financial assets [Axis]
category [Member] category [Member]
01/04/2024 01/04/2023 01/04/2024 01/04/2023
to to to to
31/03/2025 31/03/2024 31/03/2025 31/03/2024
Disclosure of financial assets [Abstract]
Disclosure of financial assets [Line items]
Financial assets 228 377 (A) 43,322 (B) 38,862
Financial assets, at fair value 228 377 43,322 38,862
Description of other financial assets at Cash and cash Cash and cash Other financial
Other financial assets
amortised cost class equivalents equivalents assets

Footnotes
(A)

Other financial assets -Non Current (731) +Other financial assets -Current (42591)

(B)

Other financial assets -Non Current (638) +Other financial assets -Current (38224)

Disclosure of financial liabilities [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Financial liabilities at fair value, class
Classes of financial liabilities [Axis]
[Member]
Financial liabilities at amortised cost,
Categories of financial liabilities [Axis]
category [Member]
31/03/2025 31/03/2024
Disclosure of financial liabilities [Abstract]
Disclosure of financial liabilities [Line items]
Financial liabilities (A) 35,653 (B) 35,551
Financial liabilities, at fair value 35,653 35,551

Footnotes
(A)

Lease liabilities (90) + Borrowings (10792) + Trade payables (10282) + Other financial liabilities (14488)

(B)

Lease liabilities (101) + Borrowings (10704) + Trade payables (11251) + Other financial liabilities (13495)

Unless otherwise specified, all monetary values are in Millions of INR

01/04/2024
to
31/03/2025
Textual information (9)
Disclosure of financial instruments [TextBlock] [See below]
Disclosure of financial assets [TextBlock]
Disclosure of financial assets [Abstract]
Disclosure of financial liabilities [TextBlock]
Disclosure of financial liabilities [Abstract]
Disclosure of credit risk [TextBlock]
Disclosure of reconciliation of changes in loss allowance and
explanation of changes in gross carrying amount for financial
instruments [TextBlock]
Disclosure of reconciliation of changes in loss allowance
and explanation of changes in gross carrying amount for
financial instruments [Abstract]
Disclosure of credit risk exposure [TextBlock]
Disclosure of credit risk exposure [Abstract]
Disclosure of provision matrix [TextBlock]
Disclosure of provision matrix [Abstract]
Disclosure of financial instruments by type of interest rate [TextBlock]
Disclosure of financial instruments by type of interest rate [Abstract]

127
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Textual information (9)

Disclosure of financial instruments [Text Block]

30. Financial risk management objectives and policies
The Group is exposed to financial risks arising from its operations and the use of financial instruments. The key financial
risks include credit risk, liquidity risk, interest risk and foreign currency risk. The board of directors reviews and agrees
policies and procedures for the management of these risks.
The following sections provide details regarding the Group’s exposure to the above-mentioned financial risks and the
objectives, policies and processes for the management of these risks.
There has been no significant change to the Group’s exposure to these financial risks or the manner in which it manages and
measures the risks, except as disclosed in note 30(d) foreign currency risk section.

a) Credit risk
Credit risk is the risk of loss that may arise on outstanding financial instruments should a counterparty default on its
obligations. The Group’s exposure to credit risk arises primarily from trade and other receivables and financial assets. For
other financial assets (including investment securities and cash and short-term deposits), the Group minimise credit risk by
dealing exclusively with high credit rating counterparties.
The Group’s objective is to seek continual revenue growth while minimising losses incurred due to increased credit risk
exposure. The Group trades only with recognised and creditworthy third parties. In addition, receivable balances are
monitored on an ongoing basis with the result that the Group’s exposure to bad debts are not significant.

Financial assets that are neither past due nor impaired

Trade receivables that are neither past due nor impaired are with creditworthy debtors with good payment record with the
Group. Cash and short-term deposits, loans and investment securities that are neither past due nor impaired are placed with
reputable financial institutions or companies with high credit ratings and no history of default.

Financial assets that are past due but not impaired

There is no other class of financial assets that is past due but not impaired except for trade receivables of Rs.1,593 as of
March 31, 2025 and Rs.806 as of March 31, 2024, respectively. Of the total receivables, Rs. 2,598 as of March 31, 2025 and
Rs. 2,974 as of March 31, 2024, were neither past due nor impaired. The Group’s credit period generally ranges from 30-60
days. The aging analysis of the receivables has been considered from the date the invoice falls due. The age wise break up
of receivables, net of allowances that are past due, is given below.

As at As at
March 31, 2025 March 31, 2024
Financial assets that are neither past due not impaired (A) 2,598 2,974

Financial assets that are past due but not impaired (B) 1,593 806
Past due 0 – 30 days 586 352
Past due 31 – 60 days 48 171
Past due 61 – 90 days 576 160
Past due over 90 days 383 123

Total (A+B) 4,191 3,780

Financial assets that are impaired

Information regarding financial assets that are impaired is disclosed in note 6 (trade receivables)
b) Liquidity risk
Liquidity risk is the risk that the Group will encounter difficulty in meeting financial obligations due to shortage of funds. The
Group’s exposure to liquidity risk arises primarily from mismatches of the maturities of financial assets and liabilities. The
Group’s objective is to maintain a balance between continuity of funding and flexibility.
The Group assessed the concentration of risk with respect to refinancing its debt and concluded it to be low. Access to
sources of funding is sufficiently available.
Analysis of financial instruments by remaining contractual maturities
The table below summarises the maturity profile of the Group’s financial liabilities at the end of the reporting period based on
contractual undiscounted repayment obligations.

As at March 31, 2025

One year or less One to five years Over five years Total
Financial liabilities

128
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Trade payables (refer note 11) 10,282 - - 10,282

Borrowings (refer note 9) 10,792 - - 10,792
Lease liabilities (refer note 24) 74 16 - 90
Others (refer note 12(i)) 14,488 - - 14,488
Total undiscounted financial liabilities 35,636 16 - 35,652

As at March 31, 2024

One year or less One to five years Over five years Total
Financial liabilities
Trade payables (refer note 11) 11,251 - - 11,251
Borrowings (refer note 9) 10,704 - - 10,704
Lease liabilities (refer note 24) 78 23 - 101
Others (refer note 12(i)) 13,495 - - 13,495
Total undiscounted financial liabilities 35,528 23 - 35,551

'The table below shows the contractual expiry by maturity of the Group’s contingent liabilities and commitments. The maximum amount of
the financial guarantee contracts are allocated to the earliest possible period in which the guarantee could be called.

One year or less One to five years Over five years Total
As at March 31, 2025
Bank guarantees* 49 - - 49

As at March 31, 2024

Bank guarantees* 49 - - 49

c) Interest rate risk

Interest rate risk is the risk that the fair value or future cash flow of the Group’s Financial Instruments will fluctuate because
of changes in market interest rates. The Group’s exposure to interest rate risk arises primarily from their loans and
borrowings from related parties. The Group does not have any significant interest rate risk as all interest bearing assets and
liabilities have fixed interest rates.

d) Foreign currency risk

The fluctuation in foreign currency exchange rates may have potential impact on the Consolidated Statement of Profit and
Loss and equity, where any transaction references more than one currency or where assets/liabilities are denominated in a
currency other than the functional currency of the Group. The Group's primary transactional currency is Indian rupee and the
foreign currency transactions are restricted to certain trade payables and other financial liabilities.

As at March 31, 2025, 5% increase/decrease in the exchange rate of Indian rupee with primarily U.S. dollar would result in
approximately Rs 230 (March 31, 2024: Rs 90) increase/decrease in the fair value of the Group’s foreign currency dollar.

129
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

[400400] Notes - Non-current investments

Details of non-current investments [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Classification of non-current investments [Axis] 1 2
01/04/2024 01/04/2023 01/04/2024 01/04/2023
to to to to
31/03/2025 31/03/2024 31/03/2025 31/03/2024
Non-current investments [Abstract]
Disclosure of details of non-current investments
[Abstract]
Details of non-current investments [Line items]
Other non-current Other non-current Other non-current Other non-current
Type of non-current investments investments investments investments investments
Class of non-current investments Other investments Other investments Other investments Other investments
Non-current investments 0 0 81 106
Wrogn Private Wrogn Private
Name of body corporate in whom investment has Limited (Formerly Limited (Formerly
Myntra Inc., USA Myntra Inc., USA
been made Universal Sportsbiz Universal Sportsbiz
Private Limited) Private Limited)
Number of shares of non-current investment
[shares] 48,75,000 [shares] 48,75,000 (A) [shares] 1,427 (B) [shares] 1,427
made in body corporate

Footnotes
(A)

1,427 Preference shares of Rs.10, fully paid up

During the year Nil (March 31, 2024: 10) preference shares of 10 each were converted into equity shares of Rs 10 each in 1:1
accordingly the proportionate cost of said preference share is considered as the cost of equity shares amounting to Nil (March 31,
2024: 2)

(B)

1,427 Preference shares of Rs.10, fully paid up

Details of non-current investments [Table] ..(2)

Unless otherwise specified, all monetary values are in Millions of INR
Classification of non-current investments [Axis] 3 4
01/04/2024 01/04/2023 01/04/2024 01/04/2023
to to to to
31/03/2025 31/03/2024 31/03/2025 31/03/2024
Non-current investments [Abstract]
Disclosure of details of non-current investments
[Abstract]
Details of non-current investments [Line items]
Other non-current Other non-current Other non-current Other non-current
Type of non-current investments investments investments investments investments
Class of non-current investments Other investments Other investments Other investments Other investments
Non-current investments 4 4 0 0
Wrogn Private Wrogn Private
Name of body corporate in whom investment has Limited (Formerly Limited (Formerly LogisticsNow LogisticsNow Private
been made Universal Sportsbiz Universal Sportsbiz Private Limited Limited
Private Limited) Private Limited)
Details of whether such body corporate is
subsidiary, associate, joint venture or Other Other
controlled special purpose entity
Number of shares of non-current investment
(A) [shares] 199 (B) [shares] 199 (C) [shares] 154 [shares] 0
made in body corporate

130
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Footnotes
(A)

199 Equity Shares of Rs.10, fully paid up

During the year the Group had acquired Nil (March 31, 2024: 189) equity shares of 10 each at Rs. Nil (March 31, 2024: 10,000) per
share of Wrogn Private Limited (Formerly Universal Sportsbiz Private Limited ("USPL") which is engaged in Business of sale of
apparels.

(B)

199 Equity Shares of Rs.10, fully paid up

(C)

During the year the Group had acquired 154 (March 31, 2024: Nil) equity shares of 10 each at Rs 10 per share of LogisticsNow
Private Limited which is engaged in Business of logistics service.

Unless otherwise specified, all monetary values are in Millions of INR

01/04/2024
to 31/03/2024
31/03/2025
Textual information (10)
Disclosure of notes on non-current investments explanatory [TextBlock] [See below]
Aggregate amount of quoted non-current investments 0 0
Market value of quoted non-current investments 0 0
Aggregate amount of unquoted non-current investments 85 110
Aggregate provision for diminution in value of non-current investments 284 284

Textual information (10)

Disclosure of notes on non-current investments explanatory [Text Block]

The following table illustrates the summarised information of the Group's investment in
associates

March 31, March 31,

Share of (loss) of associates for the year:#
2025 2024

Wrogn Private Limited (formerly

(25) (198)
known as Universal Sportsbiz Private Limited)
Myntra Inc., USA - -
(25) (198)
#Includes impairment loss on investment in equity accounted investees

131
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

[611600] Notes - Non-current asset held for sale and discontinued operations
Unless otherwise specified, all monetary values are in Millions of INR
01/04/2024 01/04/2023
to to
31/03/2025 31/03/2024
Disclosure of non-current assets held for sale and discontinued operations
[TextBlock]
Net cash flows from (used in) operating activities, continuing
236 -17,547
operations
Net cash flows from (used in) operating activities 236 -17,547
Net cash flows from (used in) investing activities, continuing
-114 -76
operations
Net cash flows from (used in) investing activities -114 -76
Net cash flows from (used in) financing activities, continuing
-271 17,844
operations
Net cash flows from (used in) financing activities (A) -271 (B) 17,844

Footnotes
(A)

Refer note 9 for changes in liabilities arising from financing activities including cash and non-cash changes

(B)

Refer note 9 for changes in liabilities arising from financing activities including cash and non-cash changes

132
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

[400100] Notes - Equity share capital

Disclosure of classes of equity share capital [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Equity shares 1
Classes of equity share capital [Axis] Equity shares [Member]
[Member]
01/04/2024 01/04/2023 01/04/2024
to to 31/03/2023 to
31/03/2025 31/03/2024 31/03/2025
Disclosure of classes of equity share capital [Abstract]
Disclosure of classes of equity share capital [Line
items]
Type of share Equity Shares
Number of shares authorised [shares] 8,08,00,000 [shares] 8,08,00,000 [shares] 8,08,00,000
Value of shares authorised 80.8 80.8 80.8
Number of shares issued [shares] 6,64,56,945 [shares] 6,64,56,945 [shares] 6,64,56,945
Value of shares issued 66.46 66.46 66.46
Number of shares subscribed and fully paid [shares] 6,64,56,945 [shares] 6,64,56,945 [shares] 6,64,56,945
Value of shares subscribed and fully paid 66 66 66
Number of shares subscribed but not fully paid [shares] 0 [shares] 0 [shares] 0
Value of shares subscribed but not fully paid 0 0 0
Total number of shares subscribed [shares] 6,64,56,945 [shares] 6,64,56,945 [shares] 6,64,56,945
Total value of shares subscribed 66 66 66
Value of shares paid-up [Abstract]
Number of shares paid-up [shares] 6,64,56,945 [shares] 6,64,56,945 [shares] 6,64,56,945
Value of shares called 66 66 66
Calls unpaid [Abstract]
Calls unpaid by directors and officers
[Abstract]
Calls unpaid by directors 0 0 0
Calls unpaid by officers 0 0 0
Total calls unpaid by directors and
0 0 0
officers
Calls unpaid by others 0 0 0
Total calls unpaid 0 0 0
Forfeited shares 0 0 0
Forfeited shares reissued 0 0 0
Value of shares paid-up 66 66 66
Par value per share [INR/shares] 1
Amount per share called in case shares not fully
[INR/shares] 0
called
Reconciliation of number of shares outstanding
[Abstract]
Changes in number of shares outstanding
[Abstract]
Increase in number of shares outstanding
[Abstract]
Number of shares issued in public offering [shares] 0 [shares] 0 [shares] 0
Number of shares issued as bonus shares [shares] 0 [shares] 0 [shares] 0
Number of shares issued as rights [shares] 0 [shares] 28,02,903 [shares] 0
Number of shares issued in private
placement arising out of conversion of
[shares] 0 [shares] 0 [shares] 0
debentures preference shares during
period
Number of shares issued in other private
[shares] 0 [shares] 0 [shares] 0
placement
Number of shares issued as preferential
allotment arising out of conversion of
[shares] 0 [shares] 0 [shares] 0
debentures preference shares during
period
Number of shares issued as other
[shares] 0 [shares] 0 [shares] 0
preferential allotment
Number of shares issued in shares based
[shares] 0 [shares] 0 [shares] 0
payment transactions
Number of shares issued under scheme of
[shares] 0 [shares] 0 [shares] 0
amalgamation
Number of other issues of shares [shares] 0 [shares] 0 [shares] 0

133
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Number of shares issued under employee

[shares] 0 [shares] 0 [shares] 0
stock option plan
Number of other issue of shares
arising out of conversion of [shares] 0 [shares] 0 [shares] 0
securities
Total aggregate number of shares issued
[shares] 0 [shares] 28,02,903 [shares] 0
during period
Decrease in number of shares during period
[Abstract]
Number of shares bought back or treasury
[shares] 0 [shares] 0 [shares] 0
shares
Other decrease in number of shares [shares] 0 [shares] 0 [shares] 0
Total decrease in number of shares during
[shares] 0 [shares] 0 [shares] 0
period
Total increase (decrease) in number of
[shares] 0 [shares] 28,02,903 [shares] 0
shares outstanding
Number of shares outstanding at end of period [shares] 6,64,56,945
Reconciliation of value of shares outstanding
[Abstract]
Changes in equity share capital [Abstract]
Increase in equity share capital during
period [Abstract]
Amount of public issue during period 0 0 0
Amount of bonus issue during period 0 0 0
Amount of rights issue during period 0 2 0
Amount of private placement issue
arising out of conversion of debentures 0 0 0
preference shares during period
Amount of other private placement issue
0 0 0
during period
Amount of preferential allotment issue
arising out of conversion of debentures 0 0 0
preference shares during period
Amount of other preferential allotment
0 0 0
issue during period
Amount of share based payment
0 0 0
transactions during period
Amount of issue under scheme of
0 0 0
amalgamation during period
Amount of other issues during period 0 0 0
Amount of shares issued under employee
0 0 0
stock option plan
Amount of other issue arising out of
conversion of securities during 0 0 0
period
Total aggregate amount of increase
0 2 0
in equity share capital during period
Decrease in equity share capital during
period [Abstract]
Decrease in amount of treasury shares
0 0 0
or shares bought back
Other decrease in amount of shares 0 0 0
Total decrease in equity share capital
0 0 0
during period
Total increase (decrease) in share capital 0 2 0
Equity share capital at end of period 66 66 64 66
Shares in company held by holding company or
ultimate holding company or by its subsidiaries
or associates [Abstract]
Shares in company held by holding company [shares] 6,61,80,999 [shares] 6,61,80,999 [shares] 6,61,80,999
Shares in company held by ultimate holding
[shares] 0 [shares] 0 [shares] 0
company
Shares in company held by subsidiaries of its
[shares] 0 [shares] 0 [shares] 0
holding company
Shares in company held by subsidiaries of its
[shares] 0 [shares] 0 [shares] 0
ultimate holding company
Shares in company held by associates of its
[shares] 0 [shares] 0 [shares] 0
holding company
Shares in company held by associates of its
[shares] 0 [shares] 0 [shares] 0
ultimate holding company
Total shares in company held by holding company
or ultimate holding company or by its [shares] 6,61,80,999 [shares] 6,61,80,999 [shares] 6,61,80,999
subsidiaries or associates

134
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Shares reserved for issue under options

and contracts or commitments for sale of [shares] 0
shares or disinvestment
Amount of shares reserved for issue under options
and contracts or commitments for sale of shares or 0 0 0
disinvestment
Aggregate number of fully paid-up shares issued
pursuant to contracts without payment being [shares] 0
received in cash during last five years
Aggregate number of fully paid up shares
issued by way of bonus shares during last [shares] 0
five years
Aggregate number of shares bought back during
[shares] 0
last five years
Details of application money received for
allotment of securities and due for refund and
interest accrued thereon [Abstract]
Application money received for allotment of
securities and due for refund and interest
accrued thereon [Abstract]
Application money received for
allotment of securities and due for 0 0 0
refund, principal
Application money received for
allotment of securities and due for 0 0 0
refund, interest accrued
Total application money received for
allotment of securities and due for refund 0 0 0
and interest accrued thereon
Number of shares proposed to be issued [shares] 0 [shares] 0 [shares] 0
Share premium for shares to be allotted 0 0 0
Type of share Equity Shares

135
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Disclosure of classes of equity share capital [Table] ..(2)

Unless otherwise specified, all monetary values are in Millions of INR
Classes of equity share capital [Axis] Equity shares 1 [Member]
01/04/2023
to 31/03/2023
31/03/2024
Disclosure of classes of equity share capital [Abstract]
Disclosure of classes of equity share capital [Line items]
Type of share Equity Shares
Number of shares authorised [shares] 8,08,00,000
Value of shares authorised 80.8
Number of shares issued [shares] 6,64,56,945
Value of shares issued 66.46
Number of shares subscribed and fully paid [shares] 6,64,56,945
Value of shares subscribed and fully paid 66
Number of shares subscribed but not fully paid [shares] 0
Value of shares subscribed but not fully paid 0
Total number of shares subscribed [shares] 6,64,56,945
Total value of shares subscribed 66
Value of shares paid-up [Abstract]
Number of shares paid-up [shares] 6,64,56,945
Value of shares called 66
Calls unpaid [Abstract]
Calls unpaid by directors and officers [Abstract]
Calls unpaid by directors 0
Calls unpaid by officers 0
Total calls unpaid by directors and officers 0
Calls unpaid by others 0
Total calls unpaid 0
Forfeited shares 0
Forfeited shares reissued 0
Value of shares paid-up 66
Par value per share [INR/shares] 1
Amount per share called in case shares not fully called [INR/shares] 0
Reconciliation of number of shares outstanding [Abstract]
Changes in number of shares outstanding [Abstract]
Increase in number of shares outstanding [Abstract]
Number of shares issued in public offering [shares] 0
Number of shares issued as bonus shares [shares] 0
Number of shares issued as rights [shares] 28,02,903
Number of shares issued in private placement arising out of conversion
[shares] 0
of debentures preference shares during period
Number of shares issued in other private placement [shares] 0
Number of shares issued as preferential allotment arising out of
[shares] 0
conversion of debentures preference shares during period
Number of shares issued as other preferential allotment [shares] 0
Number of shares issued in shares based payment transactions [shares] 0
Number of shares issued under scheme of amalgamation [shares] 0
Number of other issues of shares [shares] 0
Number of shares issued under employee stock option plan [shares] 0
Number of other issue of shares arising out of conversion of securities [shares] 0
Total aggregate number of shares issued during period [shares] 28,02,903
Decrease in number of shares during period [Abstract]
Number of shares bought back or treasury shares [shares] 0
Other decrease in number of shares [shares] 0
Total decrease in number of shares during period [shares] 0
Total increase (decrease) in number of shares outstanding [shares] 28,02,903
Number of shares outstanding at end of period [shares] 6,64,56,945 [shares] 6,36,54,042
Reconciliation of value of shares outstanding [Abstract]
Changes in equity share capital [Abstract]
Increase in equity share capital during period [Abstract]
Amount of public issue during period 0
Amount of bonus issue during period 0
Amount of rights issue during period 2
Amount of private placement issue arising out of conversion of
0
debentures preference shares during period
Amount of other private placement issue during period 0

136
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Amount of preferential allotment issue arising out of conversion of

0
debentures preference shares during period
Amount of other preferential allotment issue during period 0
Amount of share based payment transactions during period 0
Amount of issue under scheme of amalgamation during period 0
Amount of other issues during period 0
Amount of shares issued under employee stock option plan 0
Amount of other issue arising out of conversion of securities during period 0
Total aggregate amount of increase in equity share capital during period 2
Decrease in equity share capital during period [Abstract]
Decrease in amount of treasury shares or shares bought back 0
Other decrease in amount of shares 0
Total decrease in equity share capital during period 0
Total increase (decrease) in share capital 2
Equity share capital at end of period 66 64
Shares in company held by holding company or ultimate holding company or by its
subsidiaries or associates [Abstract]
Shares in company held by holding company [shares] 6,61,80,999
Shares in company held by ultimate holding company [shares] 0
Shares in company held by subsidiaries of its holding company [shares] 0
Shares in company held by subsidiaries of its ultimate holding company [shares] 0
Shares in company held by associates of its holding company [shares] 0
Shares in company held by associates of its ultimate holding company [shares] 0
Total shares in company held by holding company or ultimate holding company
[shares] 6,61,80,999
or by its subsidiaries or associates
Shares reserved for issue under options and contracts or commitments for sale of
[shares] 0
shares or disinvestment
Amount of shares reserved for issue under options and contracts or commitments
0
for sale of shares or disinvestment
Aggregate number of fully paid-up shares issued pursuant to contracts
[shares] 0
without payment being received in cash during last five years
Aggregate number of fully paid up shares issued by way of bonus shares during last
[shares] 0
five years
Aggregate number of shares bought back during last five years [shares] 0
Details of application money received for allotment of securities and due for
refund and interest accrued thereon [Abstract]
Application money received for allotment of securities and due for refund and
interest accrued thereon [Abstract]
Application money received for allotment of securities and due for refund,
0
principal
Application money received for allotment of securities and due for refund,
0
interest accrued
Total application money received for allotment of securities and due for
0
refund and interest accrued thereon
Number of shares proposed to be issued [shares] 0
Share premium for shares to be allotted 0
Type of share Equity Shares

Disclosure of shareholding more than five per cent in company [Table] ..(1)
Unless otherwise specified, all monetary values are in Millions of INR
Classes of equity share capital [Axis] Equity shares 1 [Member]
Name of shareholder [Axis] Name of shareholder [Member] Shareholder 1 [Member]
01/04/2024 01/04/2023 01/04/2024 01/04/2023
to to to to
31/03/2025 31/03/2024 31/03/2025 31/03/2024
Type of share Equity Shares Equity Shares Equity Equity
Disclosure of shareholding more than five per cent in
company [Abstract]
Disclosure of shareholding more than five per cent
in company [LineItems]
Type of share Equity Shares Equity Shares Equity Equity
FK Myntra
FK Myntra Holdings
Name of shareholder Holdings Private
Private Limited
Limited
Country of incorporation or residence of
SINGAPORE SINGAPORE
shareholder
Number of shares held in company [shares] 6,61,80,999 [shares] 6,61,80,999
Percentage of shareholding in company 99.58% 99.58%

137
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Unless otherwise specified, all monetary values are in Millions of INR

01/04/2024 01/04/2023
to to
31/03/2025 31/03/2024
Textual information (11)
Disclosure of notes on equity share capital explanatory [TextBlock] [See below]
Whether there are any shareholders holding more than five per cent
shares in company (A) Yes (B) Yes

Number of shareholders of company (C) [pure] (D) [pure]

2 2
Number of allottees in case of preferential allotment [pure] 0 [pure] 2
Whether reduction in capital done during year No No
Whether money raised from public offering during year No No
Amount raised from public offering during year 0 0
Amount utilised towards specified purposes for public offering 0 0
Amount remaining unutilised received in respect of public offering 0 0

Footnotes
(A)

As per the records of the Group, including its register of shareholders / members and other declarations received from the
shareholders regarding beneficial interest, the above shareholding represents both legal and beneficial ownership of shares.

(B)

As per the records of the Group, including its register of shareholders / members and other declarations received from the
shareholders regarding beneficial interest, the above shareholding represents both legal and beneficial ownership of shares.

(C)
As at March 31, 2025
Name of the shareholder No. of shares % holding in the class % change during the year

Equity shares
FK Myntra Holdings Private Limited 66,180,999 99.58% 0.00%
Flipkart Private Limited 275,946 0.42% 0.00%

(D)

As at March 31, 2024

Name of the shareholder No. of shares % holding in the class % change during the year

Equity shares
FK Myntra Holdings Private Limited 66,180,999 99.58% 0.01%
Flipkart Private Limited 275,946 0.42% -0.01%

138
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Textual information (11)

Disclosure of notes on equity share capital explanatory [Text Block]

(b) Terms and rights attached to equity shares
The Company has one class of equity share (equity share of Re.1 each) and twenty six class of equity shares carrying
differential voting rights having fair value of Re.1 each (equity shares of Re.1 with differential voting right). The terms and
rights attached with those shares are as below
i) Equity shares of Re. 1 each
Each holder of equity share is entitled to one vote per share. All equity shares rank equally with regard to dividends and
share in Company's residual assets. The equity shares are entitled to receive dividend as declared from time to time. The
Company declares and pays dividend in Indian Rupees. The dividend proposed by the Board is subject to approval of
shareholders in the ensuing AGM. In the event of liquidation of the Company, the holders of equity shares will be entitled to
receive remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to
the number of equity shares held by the shareholders.

ii) Equity shares of Re. 1 each with differential voting rights:

The Company has 26 class of differential voting right (DVR) equity shares having a par value of Re. 1/- per share. Each DVR
shareholder is eligible for different voting rights as per the Amended and Restated Investors’ Rights Agreement (this
“Agreement”), dated February 03, 2014. out of 26 class DVRs equity shares, 25 class of DVR equity shares are held by FK
Myntra Holdings Private Limited, carries voting right of 39,553,018 votes in aggregate of such 25 class of equity shares
representing 96 % of total DVR and remaining 1 class of DVR equity shares representing 4% of total DVRs is held by
Flipkart Private Limited, carring voting rights of 3,75,000 . The dividend proposed by the board of directors is subject to the
approval of shareholders in the ensuing annual general meeting. DVR rank pari passu as equity share. In the event of
liquidation, the holders of equity shares will be entitled to receive remaining assets of the company after distribution of all
preferential amounts, in proportion to the number of equity shares held by them The equity shares with Differential Voting
Rights (DVR) shall automatically, fully and mandatorily be converted into fully paid-up equity shares immediately prior to
consummation of the Qualified Initial Public Offering or one day prior to completion of twenty years from the date of issuance,
whichever is earlier at a fixed value, subject to anti-dilution provisions.

(c) Terms of conversion/redemption of CCCPS

The Company has issued 6 class of CCCPS of Re. 1 each, fully paid up, on the basis of preferential allotment, carrying fixed
preferential and cumulative dividend of 0.01% p.a. and having a term of twenty years. Each holder of CCCPS is entitled to
one vote per share. In addition to 0.01% cumulative preference dividend, each preference shareholder shall be entitled to
participate in distribution of profits of the Company on a pro rata share and as-if-converted basis via-à-vis the other
shareholders.
The preference shares shall automatically, fully and mandatorily be converted into fully paid up equity shares immediately
prior to consummation of the Qualified Initial Public Offering or on completion of their term, whichever is earlier at fixed value,
subject to anti-dilution provisions. In the event of liquidation of the Company before conversion/ redemption of CCCPS, the
holders of CCCPS will have priority over equity shares in the payment of dividend and repayment of capital. In the event of
liquidation, the preference shareholders shall receive an amount per share equal to the sum of the Applicable Original Issue
Price plus all accrued but unpaid dividends (whether or not declared) and declared but unpaid dividends on such share.
Further, for purposes of determining the amount each holder of preference shares is entitled to receive with respect to a
liquidation, each such holder of preference shares shall be deemed to have converted (regardless of whether such holder
actually converted) such holder’s shares into equity shares immediately prior to the liquidation if, as a result of an actual
conversion, such holder would receive, in the aggregate, an amount greater than the amount that would be distributed to
such holder if such holder did not convert such preference shares into equity shares.

(d) Shares held by holding / intermediate holding / ultimate holding company and / or their
subsidiaries / associates
Value of
Shares
As at As at
March 31, March 31,
2025 2024

FK Myntra Holdings Private Limited, holding company

66,180,999 (March 31, 2024: 66,180,999 ) equity shares of Re. 1 each# 66

66
33,592,316 (March 31, 2024: 33,592,316) compulsorily convertible and cumulative preference
34
shares (CCCPS) of Re. 1 each 34

Flipkart Private Limited, intermediate holding company

275,946 (March 31, 2024: 275,946 ) equity shares of Re. 1 each# 0

0
375,000 (March 31, 2024: 375,000) compulsorily convertible and cumulative preference shares

139
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

(CCCPS) of Re. 1 each 0 0

(e) Details of shareholders holding more than 5% shares in the Group

As at
As at
Name of the shareholder March 31,
March 31, 2024
2025
No. of % holding in the No. of % holding in the
shares class shares class
Equity shares

FK Myntra Holdings Private Limited, holding company# 99.58% 99.58%

66,180,999 66,180,999

Equity shares of Re. 1 each with differential voting rights

FK Myntra Holdings Private Limited, holding company 96.15% 96.15%

25 25

Compulsory Convertible and Cumulative Preference

shares (CCCPS)

FK Myntra Holdings Private Limited, holding company 98.90% 98.90%

33,592,316 33,592,316

As per the records of the Group, including its register of shareholders / members and other declarations received from the shareholders
regarding beneficial interest, the above shareholding represents both legal and beneficial ownership of shares.

(f) Details of shareholdings with the

promoters
As at March As at March
Name of the shareholder
31, 2025 31, 2024
% change % holding % change
No. of % holding in No. of
during the in the during the
shares the class shares
year class year

Equity shares
FK Myntra Holdings Private Limited, holding
99.58% 0.00% 99.58% 0.01%
company# 66,180,999 66,180,999
Flipkart Private Limited, intermediate holding
0.42% 0.00% 0.42% -0.01%
company# 275,946 275,946

Compulsory Convertible and Cumulative

Preference shares (CCCPS)
FK Myntra Holdings Private Limited, holding
98.90% 0.00% 98.90% 0.00%
company 33,592,316 33,592,316
Flipkart Private Limited, intermediate holding
1.10% 0.00% 1.10% 0.00%
company 375,000 375,000

#refer note 8(i)b(ii) for information relating to

different class of equity share held.

8(ii). Other equity

As at As at
March 31, 2025 March 31, 2024
Equity component of Compulsorily Convertible and Cumulative Preference Shares 34 34
Total 34 34

Equity component of Compulsorily Convertible and Cumulative Preference Shares

Balance as at the beginning of the year 34 34
Addition during the year - -
Balance as at the end of the year (A) 34 34

140
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Reserves and Surplus

Securities premium 19,995 67,285
General reserves 589 589
Retained earnings (5,634) (58,386)
Non-controlling Interest 174 175
Total (B) 15,124 9,663

Securities premium
Balance as at the beginning of the year 67,285 54,615
Securities premium on issue of equity shares - 12,684
Cost pertaining to issue of shares - (14)
Adjustment of accumulated losses with securities premium** (47,290) -
Balance as at the end of the year 19,995 67,285

General reserve
Balance as at the beginning of the year 589 589
Addition during the year - -
Balance as at the end of the year 589 589

Retained earnings
Balance as at the beginning of the year (58,386) (58,694)
Profit for the year 5,484 308
Items of other comprehensive income recognised directly in retained
earnings
Re-measurement (loss) of the net defined benefit plan (22) -
Adjustment of accumulated losses with securities premium** 47,290
Balance as at the end of the year (5,634) (58,386)

Total Other Equity 14,984 9,522

Non-controlling Interest
Balance as at the beginning of the year 175 174
(Loss)/ Profit for the year (1) 1
Balance as at the end of the year 174 175

The Group has not issued any equity shares as bonus or for consideration other than cash during the period of five years immediately
preceding the reporting date. Further, the Group has not bought back any shares during the period of five years immediately preceding the
reporting date.

** The Group has filed an application before the Hon’ble National Company Law Tribunal on Capital Reduction as required under Section
66 and 52 of Companies Act, 2013. The said application was filed in line with the approval accorded by the Board of Directors on February
20, 2023 and Shareholders approval on February 23, 2023. The purpose of the capital reduction application is to reduce the Securities
Premium Account to an extent of Rs. 47,290 reflected under “Reserves and Surplus – Retained Earnings” as a part of “Other Equity”.

The matter was heard by the Hon’ble National Company Law Tribunal, Bengaluru Bench and the order was delivered by the Hon’ble
National Company Law Tribunal, Bengaluru Bench on December 10, 2024 confirming the reduction of balance available in the Securities
Premium Account to an extent of Rs. 47,290. All the compliances including filing of form-INC-28 on this had been complied with and the
Group received the Certificate of registration of order confirming the reduction of Share Capital.

141
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

[400300] Notes - Borrowings

Classification of borrowings [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Classification based on current non-current [Axis] Current [Member]
Loans repayable on demand from
Classification of borrowings [Axis] Loans repayable on demand [Member]
others [Member]
Subclassification of borrowings [Axis] Unsecured borrowings [Member] Unsecured borrowings [Member]
01/04/2024 01/04/2023 01/04/2024 01/04/2023
to to to to
31/03/2025 31/03/2024 31/03/2025 31/03/2024
Borrowings notes [Abstract]
Details of borrowings [Abstract]
Details of borrowings [Line items]
Borrowings 10,792 10,704 10,792 10,704
Loans from related
parties are Loans from related
unsecured loan, parties are unsecured
taken to meet its loan, taken to meet its
business and business and general
Terms of repayment of term loans and other loans general corporate corporate expenses
expenses and is and is repayable on
repayable on demand. The interest
demand. The rate is fixed at 8% per
interest rate is fixed annum
at 8% per annum

Unless otherwise specified, all monetary values are in Millions of INR

01/04/2024
to
31/03/2025
Textual information (12)
Disclosure of notes on borrowings explanatory [TextBlock] [See below]

Textual information (12)

Disclosure of notes on borrowings explanatory [Text Block]

Changes in liabilities arising from financing
activities including cash and non-cash changes:

Particulars April 1, 2024 Cash Flows Non-cash changes* March 31, 2025

Loans from related parties

10,704 88 - 10,792
Finance lease obligations - Non-current* (refer
note 24) 23 (7) 16
Finance lease obligations Current* (refer note
24) 78 (123) 119 74

*Includes addition of lease liabilities and

accretion of interest (refer note 24).

142
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

[612700] Notes - Income taxes

Disclosure of temporary difference, unused tax losses and unused tax credits [Table] ..(1)
Unless otherwise specified, all monetary values are in Millions of INR
Temporary difference, unused tax losses and unused tax credits Temporary difference, unused tax losses
Temporary differences [Member]
[Axis] and unused tax credits [Member]
01/04/2024 01/04/2023 01/04/2024 01/04/2023
to to to to
31/03/2025 31/03/2024 31/03/2025 31/03/2024
Deferred tax relating to items credited (charged)
0 0 0 0
directly to equity
Disclosure of temporary difference, unused tax
losses and unused tax credits [Abstract]
Disclosure of temporary difference, unused
tax losses and unused tax credits [Line items]
Deferred tax assets and liabilities [Abstract]
Deferred tax assets 1,375 0
Deferred tax liabilities 121 121
Net deferred tax liability (assets) -1,254 121
Net deferred tax assets and liabilities
[Abstract]
Net deferred tax assets 1,375 0
Net deferred tax liabilities 121 121
Deferred tax expense (income) [Abstract]
Deferred tax expense (income)
Deferred tax expense (income)
-1,375 0 -1,375 0
recognised in profit or loss
Reconciliation of changes in deferred tax
liability (assets) [Abstract]
Changes in deferred tax liability (assets)
[Abstract]
Deferred tax expense (income)
-1,375 0 -1,375 0
recognised in profit or loss
Deferred tax relating to items
0 0 0 0
credited (charged) directly to equity
Aggregated income tax relating to
components of other comprehensive 0 0 0 0
income
Increase (decrease) through business
combinations, deferred tax liability 0 0 0 0
(assets)
Increase (decrease) through loss
of control of subsidiary, deferred 0 0 0 0
tax liability (assets)
Increase (decrease) through net exchange
differences, deferred tax liability 0 0 0 0
(assets)
Total increase (decrease) in deferred
-1,375 0 -1,375 0
tax liability (assets)
Deferred tax liability (assets) at end of
-1,254 121
period
Description of other temporary differences

143
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Disclosure of temporary difference, unused tax losses and unused tax credits [Table] ..(2)
Unless otherwise specified, all monetary values are in Millions of INR
Temporary
Temporary difference, unused tax losses and unused tax credits
differences Other temporary differences [Member]
[Axis]
[Member]
01/04/2024 01/04/2023
31/03/2023 to to 31/03/2023
31/03/2025 31/03/2024
Deferred tax relating to items credited (charged)
0 0
directly to equity
Disclosure of temporary difference, unused tax
losses and unused tax credits [Abstract]
Disclosure of temporary difference, unused
tax losses and unused tax credits [Line items]
Deferred tax assets and liabilities [Abstract]
Deferred tax assets 1,375 0
Deferred tax liabilities 121 121
Net deferred tax liability (assets) 121 -1,254 121 121
Net deferred tax assets and liabilities
[Abstract]
Net deferred tax assets 1,375 0
Net deferred tax liabilities 121 121
Deferred tax expense (income) [Abstract]
Deferred tax expense (income)
Deferred tax expense (income)
-1,375 0
recognised in profit or loss
Reconciliation of changes in deferred tax
liability (assets) [Abstract]
Changes in deferred tax liability (assets)
[Abstract]
Deferred tax expense (income)
-1,375 0
recognised in profit or loss
Deferred tax relating to items
0 0
credited (charged) directly to equity
Aggregated income tax relating to
components of other comprehensive 0 0
income
Increase (decrease) through business
combinations, deferred tax liability 0 0
(assets)
Increase (decrease) through loss
of control of subsidiary, deferred 0 0
tax liability (assets)
Increase (decrease) through net exchange
differences, deferred tax liability 0 0
(assets)
Total increase (decrease) in deferred
-1,375 0
tax liability (assets)
Deferred tax liability (assets) at end of
121 -1,254 121 121
period
Description of other temporary differences

144
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Disclosure of temporary difference, unused tax losses and unused tax credits [Table] ..(3)
Unless otherwise specified, all monetary values are in Millions of INR
Other temporary
Temporary difference, unused tax losses and unused tax credits
Other temporary differences 1 [Member] differences 2
[Axis]
[Member]
01/04/2024 01/04/2023 01/04/2024
to to 31/03/2023 to
31/03/2025 31/03/2024 31/03/2025
Deferred tax relating to items credited (charged)
0 0 0
directly to equity
Disclosure of temporary difference, unused tax
losses and unused tax credits [Abstract]
Disclosure of temporary difference, unused
tax losses and unused tax credits [Line items]
Deferred tax assets and liabilities [Abstract]
Deferred tax assets 0 0 835
Deferred tax liabilities 121 121 0
Net deferred tax liability (assets) 121 121 121 -835
Net deferred tax assets and liabilities
[Abstract]
Net deferred tax assets 0 0 835
Net deferred tax liabilities 121 121 0
Deferred tax expense (income) [Abstract]
Deferred tax expense (income)
Deferred tax expense (income)
0 0 -835
recognised in profit or loss
Reconciliation of changes in deferred tax
liability (assets) [Abstract]
Changes in deferred tax liability (assets)
[Abstract]
Deferred tax expense (income)
0 0 -835
recognised in profit or loss
Deferred tax relating to items
0 0 0
credited (charged) directly to equity
Aggregated income tax relating to
components of other comprehensive 0 0 0
income
Increase (decrease) through business
combinations, deferred tax liability 0 0 0
(assets)
Increase (decrease) through loss
of control of subsidiary, deferred 0 0 0
tax liability (assets)
Increase (decrease) through net exchange
differences, deferred tax liability 0 0 0
(assets)
Total increase (decrease) in deferred
0 0 -835
tax liability (assets)
Deferred tax liability (assets) at end of
121 121 121 -835
period
Represents deferred tax
Represents deferred tax
liability on goodwill &
liability on goodwill & other Unabsorbed
Description of other temporary differences other intangibles
intangibles accounted on depreciation
accounted on account of
account of consolidation.
consolidation.

145
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Disclosure of temporary difference, unused tax losses and unused tax credits [Table] ..(4)
Unless otherwise specified, all monetary values are in Millions of INR
Temporary difference, unused tax losses and unused tax credits Other temporary differences 2 Other temporary differences 3
[Axis] [Member] [Member]
01/04/2023 01/04/2024 01/04/2023
to 31/03/2023 to to
31/03/2024 31/03/2025 31/03/2024
Deferred tax relating to items credited (charged)
0 0 0
directly to equity
Disclosure of temporary difference, unused tax
losses and unused tax credits [Abstract]
Disclosure of temporary difference, unused
tax losses and unused tax credits [Line items]
Deferred tax assets and liabilities [Abstract]
Deferred tax assets 0 307 0
Deferred tax liabilities 0 0 0
Net deferred tax liability (assets) 0 0 -307 0
Net deferred tax assets and liabilities
[Abstract]
Net deferred tax assets 0 307 0
Net deferred tax liabilities 0 0 0
Deferred tax expense (income) [Abstract]
Deferred tax expense (income)
Deferred tax expense (income)
0 -307 0
recognised in profit or loss
Reconciliation of changes in deferred tax
liability (assets) [Abstract]
Changes in deferred tax liability (assets)
[Abstract]
Deferred tax expense (income)
0 -307 0
recognised in profit or loss
Deferred tax relating to items
0 0 0
credited (charged) directly to equity
Aggregated income tax relating to
components of other comprehensive 0 0 0
income
Increase (decrease) through business
combinations, deferred tax liability 0 0 0
(assets)
Increase (decrease) through loss
of control of subsidiary, deferred 0 0 0
tax liability (assets)
Increase (decrease) through net exchange
differences, deferred tax liability 0 0 0
(assets)
Total increase (decrease) in deferred
0 -307 0
tax liability (assets)
Deferred tax liability (assets) at end of
0 0 -307 0
period
Provision for Provision for
Description of other temporary differences Unabsorbed depreciation
Doubtful Debts Doubtful Debts

146
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Disclosure of temporary difference, unused tax losses and unused tax credits [Table] ..(5)
Unless otherwise specified, all monetary values are in Millions of INR
Other temporary
Temporary difference, unused tax losses and unused tax credits
differences 3 Other temporary differences 4 [Member]
[Axis]
[Member]
01/04/2024 01/04/2023
31/03/2023 to to 31/03/2023
31/03/2025 31/03/2024
Deferred tax relating to items credited (charged)
0 0
directly to equity
Disclosure of temporary difference, unused tax
losses and unused tax credits [Abstract]
Disclosure of temporary difference, unused
tax losses and unused tax credits [Line items]
Deferred tax assets and liabilities [Abstract]
Deferred tax assets 85 0
Deferred tax liabilities 0 0
Net deferred tax liability (assets) 0 -85 0 0
Net deferred tax assets and liabilities
[Abstract]
Net deferred tax assets 85 0
Net deferred tax liabilities 0 0
Deferred tax expense (income) [Abstract]
Deferred tax expense (income)
Deferred tax expense (income)
-85 0
recognised in profit or loss
Reconciliation of changes in deferred tax
liability (assets) [Abstract]
Changes in deferred tax liability (assets)
[Abstract]
Deferred tax expense (income)
-85 0
recognised in profit or loss
Deferred tax relating to items
0 0
credited (charged) directly to equity
Aggregated income tax relating to
components of other comprehensive 0 0
income
Increase (decrease) through business
combinations, deferred tax liability 0 0
(assets)
Increase (decrease) through loss
of control of subsidiary, deferred 0 0
tax liability (assets)
Increase (decrease) through net exchange
differences, deferred tax liability 0 0
(assets)
Total increase (decrease) in deferred
-85 0
tax liability (assets)
Deferred tax liability (assets) at end of
0 -85 0 0
period
Accelerated depreciation Accelerated depreciation
Description of other temporary differences for tax purposes for tax purposes

147
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Disclosure of temporary difference, unused tax losses and unused tax credits [Table] ..(6)
Unless otherwise specified, all monetary values are in Millions of INR
Other temporary
Temporary difference, unused tax losses and unused tax credits
Other temporary differences 5 [Member] differences 6
[Axis]
[Member]
01/04/2024 01/04/2023 01/04/2024
to to 31/03/2023 to
31/03/2025 31/03/2024 31/03/2025
Deferred tax relating to items credited (charged)
0 0 0
directly to equity
Disclosure of temporary difference, unused tax
losses and unused tax credits [Abstract]
Disclosure of temporary difference, unused
tax losses and unused tax credits [Line items]
Deferred tax assets and liabilities [Abstract]
Deferred tax assets 63 0 46
Deferred tax liabilities 0 0 0
Net deferred tax liability (assets) -63 0 0 -46
Net deferred tax assets and liabilities
[Abstract]
Net deferred tax assets 63 0 46
Net deferred tax liabilities 0 0 0
Deferred tax expense (income) [Abstract]
Deferred tax expense (income)
Deferred tax expense (income)
-63 0 -46
recognised in profit or loss
Reconciliation of changes in deferred tax
liability (assets) [Abstract]
Changes in deferred tax liability (assets)
[Abstract]
Deferred tax expense (income)
-63 0 -46
recognised in profit or loss
Deferred tax relating to items
0 0 0
credited (charged) directly to equity
Aggregated income tax relating to
components of other comprehensive 0 0 0
income
Increase (decrease) through business
combinations, deferred tax liability 0 0 0
(assets)
Increase (decrease) through loss
of control of subsidiary, deferred 0 0 0
tax liability (assets)
Increase (decrease) through net exchange
differences, deferred tax liability 0 0 0
(assets)
Total increase (decrease) in deferred
-63 0 -46
tax liability (assets)
Deferred tax liability (assets) at end of
-63 0 0 -46
period
Provision for Bonus & Provision for Bonus & Provision for
Description of other temporary differences Incentives Incentives gratuity

148
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Disclosure of temporary difference, unused tax losses and unused tax credits [Table] ..(7)
Unless otherwise specified, all monetary values are in Millions of INR
Temporary difference, unused tax losses and unused tax credits Other temporary differences 6 Other temporary differences 7
[Axis] [Member] [Member]
01/04/2023 01/04/2024 01/04/2023
to 31/03/2023 to to
31/03/2024 31/03/2025 31/03/2024
Deferred tax relating to items credited (charged)
0 0 0
directly to equity
Disclosure of temporary difference, unused tax
losses and unused tax credits [Abstract]
Disclosure of temporary difference, unused
tax losses and unused tax credits [Line items]
Deferred tax assets and liabilities [Abstract]
Deferred tax assets 0 39 0
Deferred tax liabilities 0 0 0
Net deferred tax liability (assets) 0 0 -39 0
Net deferred tax assets and liabilities
[Abstract]
Net deferred tax assets 0 39 0
Net deferred tax liabilities 0 0 0
Deferred tax expense (income) [Abstract]
Deferred tax expense (income)
Deferred tax expense (income)
0 -39 0
recognised in profit or loss
Reconciliation of changes in deferred tax
liability (assets) [Abstract]
Changes in deferred tax liability (assets)
[Abstract]
Deferred tax expense (income)
0 -39 0
recognised in profit or loss
Deferred tax relating to items
0 0 0
credited (charged) directly to equity
Aggregated income tax relating to
components of other comprehensive 0 0 0
income
Increase (decrease) through business
combinations, deferred tax liability 0 0 0
(assets)
Increase (decrease) through loss
of control of subsidiary, deferred 0 0 0
tax liability (assets)
Increase (decrease) through net exchange
differences, deferred tax liability 0 0 0
(assets)
Total increase (decrease) in deferred
0 -39 0
tax liability (assets)
Deferred tax liability (assets) at end of
0 0 -39 0
period
Description of other temporary differences Provision for gratuity Others Others

Disclosure of temporary difference, unused tax losses and unused tax credits [Table] ..(8)
Unless otherwise specified, all monetary values are in Millions of INR
Other temporary
Temporary difference, unused tax losses and unused tax credits [Axis] differences 7
[Member]
31/03/2023
Disclosure of temporary difference, unused tax losses and unused tax credits [Abstract]
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items]
Deferred tax assets and liabilities [Abstract]
Net deferred tax liability (assets) 0
Reconciliation of changes in deferred tax liability (assets) [Abstract]
Deferred tax liability (assets) at end of period 0

149
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Unless otherwise specified, all monetary values are in Millions of INR

01/04/2024 01/04/2023
to to
31/03/2025 31/03/2024
Textual information (13)
Disclosure of income tax [TextBlock] [See below]
Major components of tax expense (income) [Abstract]
Current tax expense (income) and adjustments for current tax of prior
periods [Abstract]
Current tax expense (income) 0 0
Adjustments for current tax of prior periods 0 0
Total current tax expense (income) and adjustments for current tax
0 0
of prior periods
Total tax expense (income) 0 0
Current and deferred tax relating to items charged or credited directly
to equity [Abstract]
Deferred tax relating to items credited (charged) directly to equity 0 0
Total aggregate current and deferred tax relating to items credited
0 0
(charged) directly to equity
Disclosure of temporary difference, unused tax losses and unused tax
credits [TextBlock]
Disclosure of temporary difference, unused tax losses and unused tax
credits [Abstract]
Deferred tax assets and liabilities [Abstract]
Net deferred tax assets and liabilities [Abstract]
Deferred tax expense (income) [Abstract]
Deferred tax expense (income) recognised in profit or loss -1,375 0
Reconciliation of changes in deferred tax liability (assets)
[Abstract]
Changes in deferred tax liability (assets) [Abstract]
Deferred tax expense (income) recognised in profit or loss -1,375 0
Deferred tax relating to items credited (charged) directly
0 0
to equity
Aggregated income tax relating to components of other
0 0
comprehensive income
Increase (decrease) through business combinations,
0 0
deferred tax liability (assets)
Increase (decrease) through loss of control of
0 0
subsidiary, deferred tax liability (assets)
Increase (decrease) through net exchange differences,
0 0
deferred tax liability (assets)
Total increase (decrease) in deferred tax liability (assets) -1,375 0
Reconciliation of accounting profit multiplied by applicable tax rates
[Abstract]
Total tax expense (income) 0 0

150
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Textual information (13)

Disclosure of income tax [Text Block]

14. Income tax

The major components of income tax expense for the years ended March 31, 2025 and March 31, 2024 are:

For the year ended For the year ended

Consolidated statement of profit and loss: March 31, 2025 March 31, 2024
Current income tax:
Current income tax charge - -
Deferred tax:
Relating to origination and reversal of temporary differences (1,375) -
Income tax reported in the consolidated statement of profit and loss (1,375) -

a) Reconciliation of tax expense and the accounting profit multiplied by India’s domestic tax rate for 31 March 2024 and 31 March 2025:

As at As at
March 31, 2025 March 31, 2024

Accounting profit before taxes

4,108 309

At India's statutory income tax rate of 25.168% (March 31, 2024: 25.168%)*
1,034 78
Adjustments:

Effect of non-deductible expenses for tax purposes:

10 106

Utilisation of brought forward business losses

(1,045) (184)
Effect of first time recognition of deferred tax assets on temporary timing
differences and unabosrbed depreciation (1,375) -

At the effective income tax rate of 25.168% (March 31, 2024: 25.168%)
(1,375) -

Income tax (income) reported in the consolidated statement of profit and loss
(1,375) -

Deferred Tax Consolidated Balance Sheet

As at As at
Deferred tax relates to the following: March 31, 2025 March 31, 2024

Unabsorbed depreciation 835

-

Provision for Doubtful Debts 307

-

Accelerated depreciation for tax purposes 85

-

Provision for Bonus & Incentives 63

-

Provision for gratuity 46

-

Others 39
-

Deferred tax income

- -

Deferred tax assets (gross)

1,375 -

151
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Deferred tax liability*

(121) 121
Net deferred tax assets/(liability) reflected in the Consolidated Balance
sheet 1,254 (121)

* Represents deferred tax liability on goodwill & other intangibles accounted on account of consolidation.

Under the Income-tax Act, 1961, carried forward unabsorbed business loss expire 8 years after the year in which they originate and
unabsorbed depreciation can be carried forward indefinitely. Deferred income tax assets are recognised to the extent it is probable that future
taxable profits will be available and to the extent it is probable that such losses can be used against the future taxable profits. Accordingly,
considering certain ongoing activities including business restructuring etc, the Group has not recognised deferred tax assets on certain unused
tax losses as the Group believes that there is no reasonable certainity on the utilisation of the same in the near future. Hence, the Group has
not recognised any deferred tax assets on unabsorbed business loss amounting to Rs. 29,728 (March 31, 2024: Rs. 35,237). The Company has
recognised deferred tax assets on unabsorbed depreciation amounting to Rs. 3,318 (March 31, 2024: Nil).

Unabsorbed business loss

For the year ended March 31, 2025 March 31, 2024
March 31, 2025 - 5,260
March 31, 2026 1,070 1,070
March 31, 2027 5,064 5,064
March 31, 2028 6,992 6,992
March 31, 2029 3,562 3,562
March 31, 2030 5,700 5,700
Thereafter 7,340 7,589
29,728 35,237

During the year March 31, 2025, the Group has received certain Income tax demand for the Assessment Years 2021-22 whereby the Tax
authorities have disallowed certain expenses resulting in reduction in brought forward lossses for the respective year. However, based on the
internal assessment, management believes that they have a strong ground to get the favourable Order. In addition to this even if the Group
does not get a favourable Order, the resultant impact would be reduction of brought forward losses. Accordingly, no additional Income tax
expense is required to be accrued in the books.

[611000] Notes - Exploration for and evaluation of mineral resources

Unless otherwise specified, all monetary values are in Millions of INR
01/04/2024 01/04/2023
to to
31/03/2025 31/03/2024
Disclosure of exploration and evaluation assets [TextBlock]
Whether there are any exploration and evaluation activities No No

[611900] Notes - Accounting for government grants and disclosure of government assistance
Unless otherwise specified, all monetary values are in Millions of INR
01/04/2024 01/04/2023
to to
31/03/2025 31/03/2024
Disclosure of accounting for government grants and disclosure of government
assistance [TextBlock]
Whether company has received any government grant or government assistance No No

152
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

[401100] Notes - Subclassification and notes on liabilities and assets

Subclassification of trade receivables [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Classification based on current non-current [Axis] Current [Member]
Classification of assets based on security [Axis] Unsecured considered good [Member] Doubtful [Member]
31/03/2025 31/03/2024 31/03/2025 31/03/2024
Subclassification and notes on liabilities and assets
[Abstract]
Disclosure of notes on trade receivables [Abstract]
Subclassification of trade receivables [Abstract]
Subclassification of trade receivables [Line
items]
Breakup of trade receivables [Abstract]
Trade receivables, gross (A) 4,191 (B) 3,780 463 392
Allowance for bad and doubtful debts 0 0 463 392
Total trade receivables 4,191 3,780 0 0
Details of trade receivables due by
directors, other officers or others
[Abstract]
Trade receivables due by directors 0 0 0 0
Trade receivables due by other officers 0 0 0 0
Total trade receivables due by
0 0 0 0
directors, other officers or others
Details of trade receivables due by firms
or companies in which any director is
partner or director [Abstract]
Trade receivables due by firms in
0 0 0 0
which any director is partner
Trade receivables due by private
companies in which any director is 0 0 0 0
director
Trade receivables due by private
companies in which any director is 0 0 0 0
member
Total trade receivables due by
firms or companies in which any 0 0 0 0
director is partner or director

Footnotes
(A)

Includes amount due from related parties (refer note 22) as at March 31, 2025- Rs. 741.

Trade Receivables includes unbilled revenue amounting to Rs. 1,351

(B)

Includes amount due from related parties (refer note 22) as at March 31, 2024- Rs.1,124

Trade Receivables includes unbilled revenue amounting to Rs.1,933

153
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Other current financial assets others [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Other current financial assets others [Axis] 1 2
01/04/2024 01/04/2023 01/04/2024 01/04/2023
to to to to
31/03/2025 31/03/2024 31/03/2025 31/03/2024
Subclassification and notes on liabilities and assets
[Abstract]
Other current financial assets [Abstract]
Other current financial assets others (A) 42,545 (B) 38,178 0 0
Other current financial assets others [Abstract]
Other current financial assets others [Line
items]
Description other current financial assets Interest accrued and Interest accrued and
Other Receivables Other Receivables
others not due not due
Other current financial assets others (A) 42,545 (B) 38,178 0 0

Footnotes
(A)

Includes amount due from related party (refer note 22).

No other receivables are due from directors or other officers of the Group either severally or jointly with any other person. No other
receivables are due from firms or private companies respectively in which any director is a partner, a director or a member.

(B)

Includes amount due from related party (refer note 22).

No other receivables are due from directors or other officers of the Group either severally or jointly with any other person. No other
receivables are due from firms or private companies respectively in which any director is a partner, a director or a member.

Other current financial assets others [Table] ..(2)

Unless otherwise specified, all monetary values are in Millions of INR
Other current financial assets others [Axis] 3 4
01/04/2024 01/04/2023 01/04/2024 01/04/2023
to to to to
31/03/2025 31/03/2024 31/03/2025 31/03/2024
Subclassification and notes on liabilities and assets
[Abstract]
Other current financial assets [Abstract]
Other current financial assets others (A) 0 (B) 0 (C) 0 (D) 0
Other current financial assets others [Abstract]
Other current financial assets others [Line
items]
Bank deposit with Bank deposit with
Description other current financial assets Unsecured, credit Unsecured, credit
maturity of less maturity of less than
others impaired impaired
than twelve months twelve months
Other current financial assets others (A) 0 (B) 0 (C) 0 (D) 0

154
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Footnotes
(A)

The weighted average effective interest rate for short-term deposit, including restricted cash, as at March 31, 2025 was 6.1% per
annum.

(B)

The weighted average effective interest rate for short-term deposit, including restricted cash, as at March 31, 2025 was 5.30% per
annum

(C)
Unsecured, credit impaired
Other receivables 36
Security deposits -
Allowance for impairment of other financial assets (36)
Total (B) -

(D)
Unsecured, credit impaired
Other receivables 29
Security deposits 01
Allowance for impairment of other financial assets (30)
Total (B) -

Other non-current assets, others [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Other non-current assets, others [Axis] 1 2
01/04/2024 01/04/2023 01/04/2024 01/04/2023
to to to to
31/03/2025 31/03/2024 31/03/2025 31/03/2024
Subclassification and notes on liabilities and assets
[Abstract]
Other non-current assets notes [Abstract]
Other non-current assets [Abstract]
Other non-current assets, others 1,213 2,063 11 11
Other non-current assets, others [Abstract]
Other non-current assets, others [Line items]
Description of other non-current assets, Tax Deducted at Tax Deducted at Income tax paid Income tax paid
others Source receivable Source receivable under demand under demand
Other non-current assets, others 1,213 2,063 11 11

Other current assets others [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Other current assets others [Axis] 1
01/04/2024 01/04/2023
to to
31/03/2025 31/03/2024
Subclassification and notes on liabilities and assets [Abstract]
Other current assets notes [Abstract]
Other current assets [Abstract]
Other current assets, others 3 9
Other current assets others [Abstract]
Other current assets others [Line items]
Description of other current assets others Others Others
Other current assets, others 3 9

155
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Other non-current financial liabilities others [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Other non-current financial liabilities others [Axis] 1
01/04/2024 01/04/2023
to to
31/03/2025 31/03/2024
Subclassification and notes on liabilities and assets [Abstract]
Disclosure of other non-current financial liabilities notes [Abstract]
Other non-current financial liabilities [Abstract]
Other non-current financial liabilities, others 16 23
Other non-current financial liabilities others [Abstract]
Other non-current financial liabilities others [Line items]
Description other non-current financial liabilities others Lease liabilities Lease liabilities
Other non-current financial liabilities, others 16 23

Other current liabilities, others [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Other current liabilities, others [Axis] 1 2
01/04/2024 01/04/2023 01/04/2024 01/04/2023
to to to to
31/03/2025 31/03/2024 31/03/2025 31/03/2024
Subclassification and notes on liabilities and assets
[Abstract]
Disclosure of other current liabilities notes
[Abstract]
Other current liabilities [Abstract]
Other current liabilities, others (A) 200 (B) 225 316 379
Other current liabilities, others [Abstract]
Other current liabilities, others [Line
items]
Description of other current liabilities,
Unearned revenue Unearned revenue Refund liabilities Refund liabilities
others
Other current liabilities, others (A) 200 (B) 225 316 379

Footnotes
(A)
As at
Movement during the year
March 31, 2024
Opening balance 225
Add: Additions during the year 102
Less: Revenue recognised during the year -127
Closing balance 200

(B)
As at
Movement during the year
March 31, 2024
Opening balance 1
Add: Additions during the year 224
Less: Revenue recognised during the year -
Closing balance 225

156
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Other current financial liabilities, others [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Other current financial liabilities, others [Axis] 1 2
01/04/2024 01/04/2023 01/04/2024 01/04/2023
to to to to
31/03/2025 31/03/2024 31/03/2025 31/03/2024
Subclassification and notes on liabilities and assets
[Abstract]
Disclosure of other current financial liabilities
notes [Abstract]
Other current financial liabilities [Abstract]
Other current financial liabilities, others 4,584 (A) 1,758 1,593 977
Other current financial liabilities, others
[Abstract]
Other current financial liabilities, others
[Line items]
Employee share Employee share
Description of other current financial
based payments based payments cross Other liabilities Other liabilities
liabilities, others cross charge charge
Other current financial liabilities,
4,584 (A) 1,758 1,593 977
others

Footnotes
(A)

Represents amount due to related party (refer note 23)

Other current financial liabilities, others [Table] ..(2)

Unless otherwise specified, all monetary values are in Millions of INR
Other current financial liabilities, others [Axis] 4 5
01/04/2024 01/04/2023 01/04/2024 01/04/2023
to to to to
31/03/2025 31/03/2024 31/03/2025 31/03/2024
Subclassification and notes on liabilities and assets
[Abstract]
Disclosure of other current financial liabilities
notes [Abstract]
Other current financial liabilities [Abstract]
Other current financial liabilities, others 7 11 74 78
Other current financial liabilities, others
[Abstract]
Other current financial liabilities, others
[Line items]
Description of other current financial
Capital Creditors Capital Creditors Lease liabilities Lease liabilities
liabilities, others
Other current financial liabilities,
7 11 74 78
others

Other current financial liabilities, others [Table] ..(3)

Unless otherwise specified, all monetary values are in Millions of INR
Other current financial liabilities, others [Axis] 6 7
01/04/2024 01/04/2023 01/04/2024 01/04/2023
to to to to
31/03/2025 31/03/2024 31/03/2025 31/03/2024
Subclassification and notes on liabilities and assets
[Abstract]
Disclosure of other current financial liabilities
notes [Abstract]
Other current financial liabilities [Abstract]
Other current financial liabilities, others 7,321 10,522 (A) 983 (B) 227
Other current financial liabilities, others
[Abstract]
Other current financial liabilities, others
[Line items]
Interest accrued but Interest accrued but
Description of other current financial
Payable to sellers Payable to sellers not due on not due on
liabilities, others borrowings borrowings
Other current financial liabilities,
7,321 10,522 (A) 983 (B) 227
others

157
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Footnotes
(A)

Represents amount due to related party (refer note 23)*

*Interest Accrued but not due

(B)

Represents amount due to related party (refer note 23)*

*Interest Accrued but not due

Other non-current financial assets, others [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Classification of other non-current financial assets others [Axis] 1
01/04/2024 01/04/2023
to to
31/03/2025 31/03/2024
Subclassification and notes on liabilities and assets [Abstract]
Other non-current financial assets notes [Abstract]
Other non-current financial assets [Abstract]
Other non-current financial assets, others 731 638
Other non-current financial assets, others [Abstract]
Other non-current financial assets, others [Line items]
Description other non-current financial assets, others Other receivables Other receivables
Other non-current financial assets, others 731 638

Disclosure of breakup of provisions [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Classification based on current non-current [Axis] Non-current [Member] Current [Member]
31/03/2025 31/03/2024 31/03/2025 31/03/2024
Subclassification and notes on liabilities and assets
[Abstract]
Provisions notes [Abstract]
Disclosure of breakup of provisions [Abstract]
Disclosure of breakup of provisions [Line items]
Provisions [Abstract]
Provisions for employee benefits
[Abstract]
Provision gratuity 123 115 60 37
Provision leave encashment 37 45
Total provisions for employee benefits 123 115 97 82
CSR expenditure provision 0 0 0 0
Other provisions 0 0 0 0
Total provisions 123 115 97 82

158
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Details of advances [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Classification based on current non-current [Axis] Non-current [Member]
Classification of advances [Axis] Capital advances [Member]
Classification of assets based on security [Axis] Unsecured considered good [Member] Doubtful [Member]
31/03/2025 31/03/2024 31/03/2025 31/03/2024
Subclassification and notes on liabilities and assets
[Abstract]
Disclosure of notes on advances [Abstract]
Disclosure of advances [Abstract]
Disclosure of advances [Line items]
Advances 0 3 (A) 0 (B) 0
Details of advance due by directors other
officers or others [Abstract]
Advance due by directors 0 0 0 0
Advance due by other officers 0 0 0 0
Total advance due by directors other
0 0 0 0
officers or others
Details of advance due by firms or
companies in which any director
is partner or director [Abstract]
Advance due by private companies in
0 0 0 0
which any director is member
Total advance due by firms or
companies in which any director 0 0 0 0
is partner or director

Footnotes
(A)
As at
Unsecured, considered doubtful
March 31, 2025
Capital advances -
Allowance for doubtful advances -
Total (B) -

(B)
As at
Unsecured, considered doubtful
March 31, 2024
Capital advances 1
Allowance for doubtful advances (1)
Total (B) -

159
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Details of advances [Table] ..(2)

Unless otherwise specified, all monetary values are in Millions of INR
Classification based on current non-current [Axis] Non-current [Member]
Classification of advances [Axis] Other Advances [Member] Prepaid expenses [Member]
Classification of assets based on security [Axis] Unsecured considered good [Member] Unsecured considered good [Member]
01/04/2024 01/04/2023
to to 31/03/2025 31/03/2024
31/03/2025 31/03/2024
Subclassification and notes on liabilities and assets
[Abstract]
Disclosure of notes on advances [Abstract]
Disclosure of advances [Abstract]
Disclosure of advances [Line items]
Advances 107 21 49 19
Nature of other advance
Details of advance due by directors other
officers or others [Abstract]
Advance due by directors 0 0 0 0
Advance due by other officers 0 0 0 0
Total advance due by directors other
0 0 0 0
officers or others
Details of advance due by firms or
companies in which any director
is partner or director [Abstract]
Advance due by private companies in
0 0 0 0
which any director is member
Total advance due by firms or
companies in which any director 0 0 0 0
is partner or director

Details of advances [Table] ..(3)

Unless otherwise specified, all monetary values are in Millions of INR
Classification based on current non-current [Axis] Non-current [Member] Current [Member]
Classification of advances [Axis] Other advances, others [Member] Advances given suppliers [Member]
Classification of assets based on security [Axis] Unsecured considered good [Member] Unsecured considered good [Member]
01/04/2024 01/04/2023
to to 31/03/2025 31/03/2024
31/03/2025 31/03/2024
Subclassification and notes on liabilities and assets
[Abstract]
Disclosure of notes on advances [Abstract]
Disclosure of advances [Abstract]
Disclosure of advances [Line items]
Advances 58 2 375 476
Balance with
Balance with
statutory/
Nature of other advance government
statutory/ government
authorities
authorities
Details of advance due by directors other
officers or others [Abstract]
Advance due by directors 0 0 0 0
Advance due by other officers 0 0 0 0
Total advance due by directors other
0 0 0 0
officers or others
Details of advance due by firms or
companies in which any director
is partner or director [Abstract]
Advance due by private companies in
0 0 0 0
which any director is member
Total advance due by firms or
companies in which any director 0 0 0 0
is partner or director

160
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Details of advances [Table] ..(4)

Unless otherwise specified, all monetary values are in Millions of INR
Classification based on current non-current [Axis] Current [Member]
Classification of advances [Axis] Advances given employees [Member] Other Advances [Member]
Classification of assets based on security [Axis] Unsecured considered good [Member] Unsecured considered good [Member]
01/04/2024 01/04/2023
31/03/2025 31/03/2024 to to
31/03/2025 31/03/2024
Subclassification and notes on liabilities and assets
[Abstract]
Disclosure of notes on advances [Abstract]
Disclosure of advances [Abstract]
Disclosure of advances [Line items]
Advances 45 20 191 156
Nature of other advance
Details of advance due by directors other
officers or others [Abstract]
Advance due by directors 0 0 0 0
Advance due by other officers 0 0 0 0
Total advance due by directors other
0 0 0 0
officers or others
Details of advance due by firms or
companies in which any director
is partner or director [Abstract]
Advance due by private companies in
0 0 0 0
which any director is member
Total advance due by firms or
companies in which any director 0 0 0 0
is partner or director

Details of advances [Table] ..(5)

Unless otherwise specified, all monetary values are in Millions of INR
Classification based on current non-current [Axis] Current [Member]
Classification of advances [Axis] Other Advances [Member] Prepaid expenses [Member]
Classification of assets based on security [Axis] Doubtful [Member] Unsecured considered good [Member]
01/04/2024 01/04/2023
to to 31/03/2025 31/03/2024
31/03/2025 31/03/2024
Subclassification and notes on liabilities and assets
[Abstract]
Disclosure of notes on advances [Abstract]
Disclosure of advances [Abstract]
Disclosure of advances [Line items]
Advances 0 0 161 134
Nature of other advance
Details of advance due by directors other
officers or others [Abstract]
Advance due by directors 0 0 0 0
Advance due by other officers 0 0 0 0
Total advance due by directors other
0 0 0 0
officers or others
Details of advance due by firms or
companies in which any director
is partner or director [Abstract]
Advance due by private companies in
0 0 0 0
which any director is member
Total advance due by firms or
companies in which any director 0 0 0 0
is partner or director

161
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Details of advances [Table] ..(6)

Unless otherwise specified, all monetary values are in Millions of INR
Classification based on current non-current [Axis] Current [Member]
Classification of advances [Axis] Other advances, others [Member]
Classification of assets based on security [Axis] Unsecured considered good [Member] Doubtful [Member]
01/04/2024 01/04/2023 01/04/2024 01/04/2023
to to to to
31/03/2025 31/03/2024 31/03/2025 31/03/2024
Subclassification and notes on liabilities and assets
[Abstract]
Disclosure of notes on advances [Abstract]
Disclosure of advances [Abstract]
Disclosure of advances [Line items]
Advances 30 22 (A) 0 (B) 0
Balance with
Balance with
statutory/ Other Advance - Other Advance -
Nature of other advance government
statutory/ government
Current Current
authorities
authorities
Details of advance due by directors other
officers or others [Abstract]
Advance due by directors 0 0 0 0
Advance due by other officers 0 0 0 0
Total advance due by directors other
0 0 0 0
officers or others
Details of advance due by firms or
companies in which any director
is partner or director [Abstract]
Advance due by private companies in
0 0 0 0
which any director is member
Total advance due by firms or
companies in which any director 0 0 0 0
is partner or director

Footnotes
(A)
As at
Unsecured, considered doubtful
March 31, 2025
Other advance 152
Allowance for doubtful advances (152)
Total -

(B)
As at
Unsecured, considered doubtful
March 31, 2024
Other advance 145
Allowance for doubtful advances (145)
Total -

Classification of inventories [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Classification of inventories [Axis] Company inventories [Member]
31/03/2025 31/03/2024
Subclassification and notes on liabilities and assets [Abstract]
Inventories notes [Abstract]
Classification of inventories [Abstract]
Classification of inventories [Line items]
Inventories 0 0

162
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Unless otherwise specified, all monetary values are in Millions of INR

01/04/2024
to 31/03/2024
31/03/2025
Disclosure of subclassification and notes on liabilities and assets Textual information (14)
explanatory [TextBlock] [See below]
Total other non-current financial assets 731 638
Advances, non-current 107 24

Total other non-current assets (A) 1,331 (B) 2,098

Disclosure of notes on cash and bank balances explanatory [TextBlock]
Fixed deposits with banks 0 0

Other balances with banks (C) 228 (D) 377

Total balance with banks 228 377
Cash on hand 0 0
Total cash and cash equivalents 228 377
Total cash and bank balances 228 377
Balances held with banks to extent held as margin money 0 0
Balances held with banks to extent held as security against
0 0
borrowings
Balances held with banks to extent held as guarantees 0 0
Balances held with banks to extent held against other
0 0
commitments
Total balances held with banks to extent held as
margin money or security against borrowings, 0 0
guarantees or other commitments
Bank deposits with more than 12 months maturity 0 0
Security deposits 46 46
Total other current financial assets 42,591 38,224
Advances, current 611 652
Total other current assets 614 661

Total other non-current financial liabilities (E) 16 (F) 23

Interest accrued on borrowings 0 0
Interest accrued on public deposits 0 0
Interest accrued others 0 0
Unpaid dividends 0 0
Unpaid matured deposits and interest accrued thereon 0 0
Unpaid matured debentures and interest accrued thereon 0 0
Debentures claimed but not paid 0 0
Public deposit payable, current 0 0

Total other current financial liabilities (G) 14,562 (H) 13,573

Taxes payable other tax (I) 860 (J) 1,134
Current liabilities portion of share application money pending
0 0
allotment
Total other payables, current 860 1,134

Total other current liabilities (K) 1,376 (L) 1,738

163
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Footnotes
(A)

Non-current tax assets (1224) + Other non-current assets (107)

(B)

Non-current tax assets (2074) + Other non-current assets (24)

(C)
On current accounts (228)

Cash and cash equivalent as per Ind-AS 7 (statement of cash flows)

(D)
On current accounts (377)

Cash and cash equivalent as per Ind-AS 7 (statement of cash flows)

(E)

Lease liabilities (16)

(F)

Lease liabilities (23)

(G)

Lease liabilities (74) + Other financial liabilities (14,488)

(H)

Lease liabilities (78) + Other financial liabilities (13,495)

(I)

Payable to statutory authorities (860)

(J)

Payable to statutory authorities (1134)

(K)

Other current liabilities (860) + Contract liabilities (200)+Refund liabilities (316)

(L)

Other current liabilities (1134) + Contract liabilities (225)+Refund liabilities (379)

164
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Textual information (14)

Disclosure of subclassification and notes on liabilities and assets explanatory [Text Block]
Trade
receivables
ageing schedule

Outstanding
for following
Unbilled # Not due periods from
due date of
payment
6 More
Less than 6 2-3
months - 1-2 years than 3 Total
months years
1 year years
As at March 31,
2025
Undisputed
Trade
1,304
Receivables – 1,351 1,247 166 39 73 11 4,191
considered good
Undisputed
Trade
Receivables –
which have -
- - - - - - -
significant
increase in credit
risk
Undisputed
Trade receivable 38
- 14 132 87 95 97 463
– credit impaired
Disputed Trade
receivables - -
- - - - - - -
considered good
Disputed Trade
receivables –
which have
-
significant - - - - - - -
increase in credit
risk
Disputed Trade
receivables – -
- - - - - - -
credit impaired

Total 1,342
1,351 1,261 298 126 168 108 4,654

Outstanding
for following
periods
Unbilled # Not due
from due
date of
payment
More
Less than 6 6 months
1-2 years 2-3 years than 3 Total
months - 1 year
years

As at March
31, 2024
Undisputed
Trade
Receivables
– 600
1,933 1,041 93 74 37 2 3,780

165
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

considered
good
Undisputed
Trade
Receivables
– which
-
have - - - - - - -
significant
increase in
credit risk
Undisputed
Trade
receivable – 92
- - 92 95 62 51 392
credit
impaired
Disputed
Trade
receivables
-
- - - - - - - -
considered
good
Disputed
Trade
receivables
– which
-
have - - - - - - -
significant
increase in
credit risk
Disputed
Trade
receivables -
- - - - - - -
– credit
impaired

Total 692
1,933 1,041 185 169 99 53 4,172

Impairment of trade receivables:

The movement for impairment of trade recivables has been shown
below:

As at As at
March 31, 2025 March 31, 2024

Opening balance 392

218

Provision for expected credit loss 345

174

Utilisation of provision
(274) -

Closing balance 463

392

No trade receivables are due from directors or other officers of the Group either severally or jointly with any other person. No trade
receivables are due from firms or private companies respectively in which any director is a partner, a director or a member.

Trade receivables (current) are non - interest bearing. The Group’s credit period generally ranges from 30-45 days.

166
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

[401200] Notes - Additional disclosures on balance sheet

Details of disclosures required under MSMED Act 2006 [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Micro small medium enterprises [Axis] 1
01/04/2024 01/04/2023
to to
31/03/2025 31/03/2024
Additional balance sheet notes [Abstract]
Details of disclosures required under MSMED Act 2006 [Abstract]
Details of disclosures required under MSMED Act 2006 [Line items]
Principal and interest due remaining unpaid [Abstract]
Principal due remaining unpaid 99 95
Interest due remaining unpaid 4 3
Total principal and interest due remaining unpaid 103 98
Amount of interest paid under MSMED Act 2006 0 0
Amount of payments made to supplier beyond due date during year 1,221 845
Amount of interest due and payable for period 24 14
Amount of interest accrued and remaining unpaid at end of accounting year 43 19
Amount of further interest due and payable even in succeeding year 19 17
Maximum amount outstanding for period from micro small medium enterprises 503 391

167
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Unless otherwise specified, all monetary values are in Millions of INR

01/04/2024 01/04/2023
to to 31/03/2023
31/03/2025 31/03/2024
Textual information (15)
Disclosure of additional balance sheet notes explanatory [TextBlock] [See below]
Additional balance sheet notes [Abstract]
Contingent liabilities and commitments [Abstract]
Classification of contingent liabilities [Abstract]
Claims against company not acknowledged as debt 1,397 665

Guarantees (A) 49 (B) 49

Other money for which company is contingently liable (C) 12
(D) 9

Total contingent liabilities 1,458 723

Total contingent liabilities and commitments 1,458 723
Details regarding dividends [Abstract]
Amount of per share dividend proposed to be distributed to
[INR/shares] 0 [INR/shares] 0
preference shareholders
Percentage of proposed dividend 0.00% 0.00%
Details of disclosures required under MSMED Act 2006 [Abstract]
Principal and interest due remaining unpaid [Abstract]
Details of shareholding pattern of promoters and public [Abstract]
Number of shareholders promoters [pure] 2 [pure] 2
Total number of shareholders promoters and public [pure] 2 [pure] 2
Details of deposits [Abstract]
Deposits accepted or renewed during period 0 0
Deposits matured and claimed but not paid during period 0 0
Deposits matured and claimed but not paid 0 0
Deposits matured but not claimed 0 0
Interest on deposits accrued and due but not paid 0 0
Disclosure of equity share warrants [Abstract]
Changes in equity share warrants during period [Abstract]
Additions to equity share warrants during period [pure] 0 [pure] 0
Deductions in equity share warrants during period [pure] 0 [pure] 0
Total changes in equity share warrants during period [pure] 0 [pure] 0
Equity share warrants at end of period [pure] 0 [pure] 0 [pure] 0
Breakup of equity share warrants [Abstract]
Equity share warrants for existing members [pure] 0 [pure] 0
Equity share warrants for others [pure] 0 [pure] 0
Total equity share warrants [pure] 0 [pure] 0 [pure] 0
Details of share application money received and paid [Abstract]
Share application money received during year 0 2
Share application money paid during year 0 0
Amount of share application money received back during year 0 0
Amount of share application money repaid returned back during year 0 0
Number of person share application money paid during year [pure] 0 [pure] 0
Number of person share application money received during year [pure] 0 [pure] 1
Number of person share application money paid as at end of year [pure] 0 [pure] 0
Number of person share application money received as at end of year [pure] 0 [pure] 1
Share application money received and due for refund 0 0
Details regarding cost records and cost audit[Abstract]
Net worth of company 15,224 9,763
Details of unclaimed liabilities [Abstract]
Unclaimed share application refund money 0 0
Unclaimed matured debentures 0 0
Unclaimed matured deposits 0 0
Interest unclaimed amount 0 0
Financial parameters balance sheet items [Abstract]
Investment in subsidiary companies (E) 203 (F) 203
Investment in government companies 0 0
Amount due for transfer to investor education and protection fund
0 0
(IEPF)
Gross value of transactions with related parties 186,933 234,656
Number of warrants converted into equity shares during period [pure] 0 [pure] 0
Number of warrants converted into preference shares during period [pure] 0 [pure] 0
Number of warrants converted into debentures during period [pure] 0 [pure] 0
Number of warrants issued during period (in foreign currency) [pure] 0 [pure] 0
Number of warrants issued during period (INR) [pure] 0 [pure] 0

168
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Footnotes
(A)

Represents bank guarantee given to government authorities.

(B)

Represents bank guarantee given to government authorities.

(C)

Estimated amount of contracts (net of advances) remaining to be executed on capital account and not provided for (12)

(D)

Estimated amount of contracts (net of advances) remaining to be executed on capital account and not provided for (9)

(E)

Investment in Subsidiary of INR 203 Million is the investment value of XS Brands Private Limited from the standalone balance
sheet of the holding company

(F)

Investment in Subsidiary of INR 203 Million is the investment value of XS Brands Private Limited from the standalone balance
sheet of the holding company

169
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Textual information (15)

Disclosure of additional balance sheet notes explanatory [Text Block]

29. Capital management
The primary objective of the Group's capital management is to ensure that it maintains a strong credit rating and healthy
capital ratios in order to support its business and maximise shareholder value.
The primary objective of the Group's capital management is to ensure that it maintains a strong credit rating and healthy
capital ratios in order to support its business and maximize shareholder value. The Group monitors capital using a gearing
ratio, which is total debt divided by total capital plus total debt. The Group includes within net debt, loans and borrowings
(excluding cash and cash equivalents) and lease liabilities. Capital includes equity attributable to the owners of the parent
including accumulated losses.
There has been no change in the capital management policy of the Group for the year ended March 31, 2025 in comparison
to the comparative year ended March 31, 2024.

As at As at
March 31, 2025 March 31, 2024
Borrowings (refer note 9) 10,792 10,704
Lease liabilities (refer note 24) 90 101
Less: Cash and cash equivalents (refer note 7) (228) (377)
Total net debt (A) 10,654 10,428

Equity attributable to the equity holders of the Group 15,050 9,588

Total capital (B) 15,050 9,588

Capital and net debt (C = A+B) 25,704 20,016

Gearing ratio (A/C) 41% 52%

33. The Group has established a comprehensive system of maintenance of information and documents as required by the transfer pricing
legislation under sections 92-92F of the Income-tax Act, 1961. Since the law requires existence of such information and documentation to be
contemporaneous in nature, the Group is in the process of updating the documentation for the international transactions entered into with the
associated enterprises during the financial year. The Management is of the opinion that its international transactions are at arm’s length so the
aforesaid legislation will not have any impact on the Consolidated Ind-As Financial Statements, particularly on the amount of tax expense
and that of provision for taxation.

36. Other statutory information

(i) The Group does not have any Benami property, where any proceeding has been initiated or pending against the Group for
holding any Benami property under the Benami Transactions (Prohibition) Act, 1988 and rules made thereunder.
(ii) The Group has balances with below-mentioned companies struck off under section 248 of Companies Act, 2013 or
section 560 of Companies Act, 1956:

Sl Name of struck off Nature of transactions with Balance outstanding Relationship with the Struck off
No. Company struck-off Company as at company, if any, to be disclosed
March 31, 2025 March 31, 2024
Mamta Fabrics Private
Trade receivables 0 None
1 Limited 0

Other receivables 0
-

Payable to sellers -
1
Ganga Fashions Private
Trade receivables 0 None
2 Limited 1

Other receivables 0
-

Payable to sellers -
1
Welcome Shoes Private
Trade receivables 0 None
3 Limited 1

Other receivables 0
-

Payable to sellers -
0

170
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Cosmus Lifestyle
Trade receivables 0 None
4 Private Limited 0

Other receivables 0
-

Payable to sellers -
0

Ginni Filaments Limited Trade receivables 0 None

5 0

Other receivables 0
-

Payable to sellers -
0
Lion head creations
Trade receivables 0 None
6 Private Limited 0

Payable to sellers -
0
Parameshwari Exports
Trade receivables 0 None
7 Private Limited 0

Other receivables 0
-

Payable to sellers -
0
Pipa Bella Accessories
Trade receivables 0 None
8 Private Limited 0

Marketplace creditor -
-0

Payable to sellers -
0
Platypuss Clothings
Trade receivables 0 None
9 Private Limited 0

Marketplace creditor -
0

Payable to sellers -
0
Shane Pearl Lifestyle
Trade receivables 0 None
10 Private Limited 0

Marketplace creditor -
-0

Payable to sellers -
0
Suarabhakti Goods
Trade receivables 3 None
11 Private Limited 1

Other receivables 0
-

Payable to sellers -
0

(iii) The Group does not have any charges or satisfaction of charges which is yet to be registered with ROC beyond the
statutory period.
(iv) The Group has not traded or invested in Crypto currency or Virtual currency during the financial year.
(v) The Group has not advanced or loaned or invested funds to any other persons or entities, including foreign entities
(intermediaries) with the understanding that the intermediary shall:
a. directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of
the Group (Ultimate Beneficiaries) or
b. provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries
(vi) The Group has not received any funds from any persons or entities, including foreign entities (Funding party) with the
understanding (whether recorded in writing or otherwise) to directly or indirectly lend or invest in other persons or entities on
behalf of the funding party (Ultimate Beneficiaries) or provide any guarantee, security or the like on behalf of the ultimate
beneficiaries.

37. The Group has used accounting software for maintaining its books of account which did not have a feature of recording
audit trail (edit log) facility. Further, in case of associate company incorporated in India:
1. For 2 accounting softwares used for, audit trail feature is not enabled for certain changes made, if any,using privileged/
administrative access rights.
2. Software used for maintaining its payroll records which has a feature of recording audit trail (edit log) facility however

171
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

which was not enabled throughout the year.

Additionally, the holding company and its Associate has also used accounting softwares which are operated by a third-party
software service providers for maintaining its books of account. The ‘Independent Service Auditor’s Assurance Report’
(SOC1 Type2 report) issued in accordance with SAE 3402, (Assurance Reports on Controls at a Service Organisation) for
the respective software, do not include information whether the audit trail feature of such softwares was enabled and
operated throughout the year. Hence, there was no preservation of audit trail for years ended March 31, 2025 and March 31,
2024.
38. The books of account along with other relevant records and papers of the Group are currently maintained in electronic
mode. These are readily accessible in India at all times except that, (i) in case of Holding company, certain ancillary
applications that are hosted on servers located outside India and currently back-up is maintained on servers located in India
except for the aforesaid ancillary applications on a regular basis although day-wise logs are not available, and (ii) for an
associate company in case of one software the back-up of books of account and other books and papers maintained in
electronic mode was not kept in server physically located in India on a daily basis, and that for another software was not kept
in server physically located in India on a daily basis from April 1, 2024 to September 30, 2024.

[611800] Notes - Revenue

Unless otherwise specified, all monetary values are in Millions of INR
01/04/2024 01/04/2023
to to
31/03/2025 31/03/2024

R e f e r t o
Textual information (16) "Disclosure of revenue
Disclosure of revenue [TextBlock] [See below] Text Block" 2024-25

172
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Textual information (16)

Disclosure of revenue [Text Block]

2.11 Revenue from operations
Revenue is recognized upon transfer of control of promised services to customers in an amount that reflects the
consideration we expect to receive in exchange for those services.
Revenue is measured based on the amount of consideration that we expect to receive, reduced by estimates for return
allowances, promotional discounts, and rebates. Revenue also excludes any amounts collected on behalf of third parties,
including sales and indirect taxes. In arrangements where we have multiple performance obligations, the transaction price is
allocated to each performance obligation using the relative stand-alone selling price. We generally determine stand-alone
selling prices based on the prices charged to customers or using expected cost plus a margin.
The Group accounts for volume discounts and pricing incentives to customers as a reduction of revenue. Incentives to
customers are provided in various forms including discounts on fees, discounts on items sold, coupons and rewards.
Promotions and incentives which are consideration payable to a customer are recognised as a reduction of revenue at the
time when revenue is recognised.
Refunds are recorded as a reduction of revenue. We estimate our refund liabilities using historical refund experience by deal
category. We assess the trends that could affect our estimates on an ongoing basis and adjust the refund reserve
calculations if it appears that changes in circumstances, including changes to our refund policies or general economic
conditions, may cause future refunds to differ from our initial estimates. If actual refunds differ from our estimates, the effects
could be material to the Group's Consolidated Ind-AS Financial Statements.
Contract Liabilities (Unearned revenue) is recognised if a payment is received or a payment is due i.e. invoicing is complete
(whichever is earlier) from a customer before the Group transfers the related services.
Contract modifications are accounted for when additions, deletions or changes are approved either to the contract scope or
contract price. The accounting for modifications of contracts involves assessing whether the services added to an existing
contract are distinct and whether the pricing is at the standalone selling price. Services added that are not distinct are
accounted for on a cumulative catch up basis, while those that are distinct are accounted for prospectively, either as a
separate contract, if the additional services are priced at the standalone selling price, or as a termination of the existing
contract and creation of a new contract if not priced at the standalone selling price.
The following is a description of principal activities from which the Group generates its revenue along with specific
recognition criteria which must also be met before revenue is recognised:

Rendering of services
Income from marketplace services
Marketplace services generates revenue primarily from transaction fees paid by customers (sellers) in marketplace. Revenue
related to transaction fees and any related fulfilment fees earned from these arrangements are recognised when the services
are rendered, which generally happens at the time underlying order has been dispatched.

Income from logistics services

Income from logistics services include warehousing and shipping services. Revenue from warehousing services is
recognised over the period of delivery of such services. Revenue from shipping services is recognised over time.
Revenue from consultancy services is recognised as and when services are provided over a period of time.
Income from advertisement services
Revenue from advertising services is recognized on point in time as advertisements based on the number of clicks delivered
(which are generated each time users on our platforms click through our advertisements to an advertiser’s designated
website) or completion of impressions (i.e., the number of times that an advertisement appears in pages viewed by users of
our platforms) or completion of per day billing during sale events. We use the output method and apply the practical
expedient to recognize advertising revenue in the amount to which we have a right to invoice.

Income from royalty services

Income from royalty services is recognised on accrual basis as the services are rendered in accordance with the terms of the
agreement entered into by the Group with its customers.

Interest income
Interest income is recognised using the effective interest method. Effective interest is the rate that exactly discounts the
estimated future cash receipts over the expected life of the financial instrument or a shorter period, where appropriate, to the
net carrying amount of the financial asset. Interest income is included in finance income in the Consolidated Statement of
Profit and Loss. Finance income comprises of interest income on fixed deposits, and changes in fair value and gains/(losses)
on disposal of financial instruments classified as FVTPL.

173
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

[612400] Notes - Service concession arrangements

Unless otherwise specified, all monetary values are in Millions of INR
01/04/2024 01/04/2023
to to
31/03/2025 31/03/2024
Disclosure of service concession arrangements [TextBlock]
Whether there are any service concession arrangments No No

[612000] Notes - Construction contracts

Unless otherwise specified, all monetary values are in Millions of INR
01/04/2024 01/04/2023
to to
31/03/2025 31/03/2024
Disclosure of notes on construction contracts [TextBlock]
Whether there are any construction contracts No No

[612600] Notes - Employee benefits

Disclosure of net defined benefit liability (assets) [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Defined benefit plans [Axis] Domestic defined benefit plans [Member]
Net defined benefit liability (assets) [Axis] Present value of defined benefit obligation [Member]
Defined benefit plans categories [Axis] 1
01/04/2024 01/04/2023
to to 31/03/2023
31/03/2025 31/03/2024
Disclosure of net defined benefit liability (assets) [Abstract]
Disclosure of net defined benefit liability (assets) [Line items]
Description of type of plan Gratuity Gratuity
Changes in net defined benefit liability (assets) [Abstract]
Current service cost, net defined benefit liability
28 34
(assets)
Interest expense (income), net defined benefit liability
11 11
(assets)
Gain (loss) on remeasurement, net defined benefit
liability (assets) [Abstract]
Actuarial losses (gains) arising from changes in
demographic assumptions, net defined benefit 5 2
liability (assets)
Actuarial losses (gains) arising from changes in
financial assumptions, net defined benefit -8 -12
liability (assets)
Loss (gain) on changes in effect of limiting net defined
benefit assets to assets ceiling, net defined benefit -19 10
liability (assets)
Total loss (gain) on remeasurement, net defined
-22 0
benefit liability (assets)
Payments from plan, net defined benefit liability (assets) 32 26
Increase (decrease) through other changes, net defined
2 -12
benefit liability (assets)
Total increase (decrease) in net defined benefit liability
31 7
(assets)
Net defined benefit liability (assets) at end of period 183 152 145

174
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Disclosure of defined benefit plans [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Domestic defined benefit plans
Defined benefit plans [Axis]
[Member]
Defined benefit plans categories [Axis] 1
01/04/2024 01/04/2023
to to
31/03/2025 31/03/2024
Disclosure of defined benefit plans [Abstract]
Disclosure of defined benefit plans [Line items]
Description of type of plan Gratuity Gratuity
Surplus (deficit) in plan [Abstract]
Defined benefit obligation, at present value 183 152
Net surplus (deficit) in plan -183 -152
Actuarial assumption of discount rates 6.75% 7.15%
Actuarial assumption of expected rates of salary increases 7.00% 6.00%

Disclosure of sensitivity analysis for actuarial assumptions [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Defined benefit plans [Axis] Domestic defined benefit plans [Member]
Actuarial assumption of discount rates Actuarial assumption of expected rates
Actuarial assumptions [Axis]
[Member] of salary increases [Member]
Defined benefit plans categories [Axis] 1 2
01/04/2024 01/04/2023 01/04/2024 01/04/2023
to to to to
31/03/2025 31/03/2024 31/03/2025 31/03/2024
Disclosure of sensitivity analysis for actuarial
assumptions [Abstract]
Disclosure of sensitivity analysis for
actuarial assumptions [Line items]
Description of type of plan Gratuity Gratuity Gratuity Gratuity
Percentage of reasonably possible increase
1.00% 1.00% 1.00% 1.00%
in actuarial assumption
Increase (decrease) in defined benefit
obligation due to reasonably possible -178 -146 188 157
increase in actuarial assumption
Percentage of reasonably possible decrease
1.00% 1.00% 1.00% 1.00%
in actuarial assumption
Increase (decrease) in defined benefit
obligation due to reasonably possible 187 157 -178 -147
decrease in actuarial assumption
Description of methods and assumptions used
Textual information Textual information Textual information Textual information
in preparing sensitivity analysis for (17) [See below] (18) [See below] (19) [See below] (20) [See below]
actuarial assumptions

Unless otherwise specified, all monetary values are in Millions of INR

01/04/2024 01/04/2023
to to
31/03/2025 31/03/2024
Textual information (21)
Disclosure of employee benefits [TextBlock] [See below]
Disclosure of defined benefit plans [TextBlock]
Whether there are any defined benefit plans Yes Yes
Disclosure of net defined benefit liability (assets) [TextBlock]
Disclosure of sensitivity analysis for actuarial assumptions [TextBlock]

Textual information (17)

Description of methods and assumptions used in preparing sensitivity analysis for actuarial assumptions
The sensitivity analysis above determine their individual impact on the plan''''s end of year defined benefit obligation. In reality, the plan is
subject to multiple external experience items which may move the defined benefit obligation in similar or opposite directions, while the
plan''''s sensitivity to such changes can vary over time.

175
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Textual information (18)

Description of methods and assumptions used in preparing sensitivity analysis for actuarial assumptions
The sensitivity analysis above determine their individual impact on the plan''''s end of year defined benefit obligation. In reality, the plan is
subject to multiple external experience items which may move the defined benefit obligation in similar or opposite directions, while the
plan''''s sensitivity to such changes can vary over time.

Textual information (19)

Description of methods and assumptions used in preparing sensitivity analysis for actuarial assumptions
The sensitivity analysis above determine their individual impact on the plan''''s end of year defined benefit obligation. In reality, the plan is
subject to multiple external experience items which may move the defined benefit obligation in similar or opposite directions, while the
plan''''s sensitivity to such changes can vary over time.

Textual information (20)

Description of methods and assumptions used in preparing sensitivity analysis for actuarial assumptions
The sensitivity analysis above determine their individual impact on the plan''''s end of year defined benefit obligation. In reality, the plan is
subject to multiple external experience items which may move the defined benefit obligation in similar or opposite directions, while the
plan''''s sensitivity to such changes can vary over time.

176
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Textual information (21)

Disclosure of employee benefits [Text Block]

26. Employee Benefit Obligations
Non-current Current
As at As at As at As at
March 31, 2025 March 31, 2024 March 31, 2025 March 31, 2024

Provision for employee benefits

Provision for gratuity 123 115 60 37
Provision for compensated absences - - 37 45
Total 123 115 97 82

The Group has a defined benefit gratuity plan for its employees. The gratuity plan is governed by the Payment of Gratuity Act, 1972
("Gratuity Act"). Under the Gratuity Act, every employee who has completed at least five years of service gets a gratuity on departure at 15
days of last drawn salary for each completed year of service. The scheme is unfunded.

The following tables summarize the components of net benefit expense recognized in the Consolidated Statement of Profit and Loss and the
funded status and amounts recognized in the Consolidated Balance Sheet for the gratuity plan.

Consolidated Statement of Profit and Loss

For the year ended For the year ended

March 31, 2025 March 31, 2024
Current service cost 28 34
Net interest on net defined benefit liability 11 11
Remeasurement (gains)/ losses in other comprehensive income
- Actuarial (gain) due to demographic assumption changes (5) (2)
- Actuarial loss/(gain) due to liability experience 19 (10)
- Actuarial loss due to liability assumption changes 8 12
Net remeasurement of net defined benefit liability 61 45

Consolidated Balance sheet

As at As at
March 31, 2025 March 31, 2024
Benefit liability
Present value of defined benefits obligation 183 152
Net liability 183 152

Change in the present value of the defined benefit obligation are as follows:

For the year ended For the year ended

March 31, 2025 March 31, 2024
Defined benefit obligation as at the beginning of the year 152 145
Current service cost 28 34
Net interest on net defined benefit liability 11 11
Remeasurement losses in other comprehensive income 22 0
Acquisition/(transfers)* 2 (12)
Benefit paid from plan assets (32) (26)
Defined benefit obligation as at the end of the year 183 152

*The acquisition credit for year ended March 31, 2025 and March 31, 2024 is due to the transfer of liability to/from fellow subsidiary
companies within the Group.

The principal assumptions used in determining gratuity and leave benefit obligations for the Group's plan are as follows:

177
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

For the year ended For the year ended

Particulars
March 31, 2025 March 31, 2024
Discount rate 6.75% 7.15%
Salary escalation
7.00% 6.00%
rate
Indian Assured Lives Mortality (2012-14) Indian Assured Lives Mortality (2012-14)
Mortality rate
(modified) Ult (modified) Ult
Withdrawal rate:
Workman 23.71% 28.00%
Non Workman 36.16% 28.00%

For the year ended For the year ended

Sensitivity analysis of assumptions used
March 31, 2025 March 31, 2024

Discount rate
Effect on DBO due to 1% increase in discount rate (178) (146)
Effect on DBO due to 1% decrease in discount rate 188 157

Salary escalation rate

Effect on DBO due to 1% increase in salary escalation rate 187 157
Effect on DBO due to 1% decrease in salary escalation rate (178) (147)

Mortality rate
Effect on DBO due to 1% increase in mortality rate 0 0
Effect on DBO due to 1% increase in mortality rate 0 0

Method used for sensitivity analysis: The sensitivity analysis above determine their individual impact on the plan's end of year defined
benefit obligation. In reality, the plan is subject to multiple external experience items which may move the defined benefit obligation in
similar or opposite directions, while the plan's sensitivity to such changes can vary over time.

For the year ended For the year ended

Expected benefit payments
March 31, 2025 March 31, 2024
Within 1 year 60 37
2 - 5 years 127 106
More than 5 years 38 58

The weighted average duration of the defined benefit obligation at the end of the reporting period is 2 years (March 31, 2024: 3 years)

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

[612800] Notes - Borrowing costs

Unless otherwise specified, all monetary values are in Millions of INR
01/04/2024 01/04/2023
to to
31/03/2025 31/03/2024
Disclosure of borrowing costs [TextBlock]
Whether any borrowing costs has been capitalised during the year No No

178
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

[612200] Notes - Leases

Disclosure of finance lease and operating lease by lessee [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Later than one year and not later than
Maturity [Axis] Not later than one year [Member]
five years [Member]
31/03/2025 31/03/2024 31/03/2025 31/03/2024
Disclosure of finance lease and operating lease by
lessee [Abstract]
Disclosure of finance lease and operating lease
by lessee [Line items]
Minimum finance lease payments payable 76 81 17 24

Disclosure of recognised finance lease as assets by lessee [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Classes of assets [Axis] Property, plant and equipment [Member]
Carrying amount, accumulated depreciation, amortisation and Accumulated depreciation and
Gross carrying amount [Member]
impairment and gross carrying amount [Axis] impairment [Member]
31/03/2025 31/03/2024 31/03/2025 31/03/2024
Disclosure of recognised finance lease as assets by
lessee [Abstract]
Disclosure of recognised finance lease as
assets by lessee [Line items]
Recognised finance lease as assets (A) 451 (B) 372 (C) -363 (D) -280

Footnotes
(A)

Building (341) + Motor Vehicle (110)

(B)

Building (266) + Motor Vehicle (106)

(C)

Building (293) + Motor Vehicle (70)

(D)

Building (223) + Motor Vehicle (57)

Unless otherwise specified, all monetary values are in Millions of INR

01/04/2024 01/04/2023
to to
31/03/2025 31/03/2024
Textual information (22)
Disclosure of leases [TextBlock] [See below]
Whether company has entered into any lease agreement Yes Yes
Disclosure of recognised finance lease as assets by lessee [TextBlock]
Disclosure of finance lease and operating lease by lessee [TextBlock]
Whether any operating lease has been converted to financial lease or
No No
vice-versa

179
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Textual information (22)

Disclosure of leases [Text Block]

24. Leases

Group as a lessee
The Group has lease contracts for various items of buildings and motor vehicles used in its operations. The Group’s
obligations under its leases are secured by the lessor’s title to the leased assets. Generally, the Group is restricted from
assigning and subleasing the leased assets and some contracts require the Group to maintain certain financial ratios. There
are several lease contracts that include extension and termination options and variable lease payments, which are further
discussed below.
The Group also has certain leases of machinery with lease terms of 12 months or less and leases of office equipment with
low value. The Group applies the ‘short-term lease’ and ‘lease of low-value assets’ recognition exemptions for these leases.
Set out below are the carrying amounts of right-of-use assets recognised and the movements during the period:

Particulars Building Motor vehicle Total

Cost
As at April 1, 2023 266 74 340
Additions - 44 44
Disposals - (12) (12)
As at 31 March, 2024 266 106 372
Additions 75 35 110
Disposals - (31) (31)
As at 31 March, 2025 341 110 451

Accumulated depreciation
As at April 1, 2023 160 21 181
Charges for the year 63 40 103
Disposals - (4) (4)
As at 31 March, 2024 223 57 280
Charges for the year 70 41 111
Disposals - (28) (28)
As at 31 March, 2025 293 70 363

Net Block
As at March 31, 2025 48 40 88

As at March 31, 2024 43 49 92

Set out below are the carrying amounts of lease liabilities and the movements during the period:

2025 2024
As at April 1 101 170
Additions 110 43
Accretion of interest 6 10
Disposals (4) (7)
Payments (123) (115)
As at March 31 90 101

The Group has office facilities under cancellable and non-cancellable lease agreements and vehicles under non-cancellable agreements that
are renewed on a periodic basis at the option of either the lessor or the lessee. Upon adoption of Ind AS 116, the Group's aggregate annual
lease liabilities includes leases with reasonably assured renewals. The aggregate minimum annual lease rentals for the remaining contractual
term of non-cancellable leases under Ind AS 116 are as follows:

Maturity analysis- contractual undiscounted cash flow

180
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

As at As at
March 31, 2025 March 31, 2024
Within one year 76 81
After one year but not more than five years 17 24

Total undiscounted lease liabilities 93 105

Lease liabilities included in the Consolidated Balance Sheet

Current 74 78
Non-Current 16 23

'The following are the amounts recognized in the Consolidated Statement of Profit or Loss:

For the year ended For the year ended

March 31, 2025 March 31, 2024
Interest expense on lease liabilities 6 10
Rent 263 346
Depreciation expense of right-of-use assets 111 103

[612300] Notes - Transactions involving legal form of lease

Unless otherwise specified, all monetary values are in Millions of INR
01/04/2024 01/04/2023
to to
31/03/2025 31/03/2024
Disclosure of arrangements involving legal form of lease [TextBlock]
Whether there are any arrangements involving legal form of lease No No

[612900] Notes - Insurance contracts

Disclosure of net, gross and reinsurer's share for amounts arising from insurance contracts [Table] ..(1)
Unless otherwise specified, all monetary values are in Millions of INR
Net amount arising from insurance
Amounts arising from insurance contracts [Axis]
contracts [Member]
01/04/2024 01/04/2023
to to
31/03/2025 31/03/2024
Income arising from insurance contracts 0 0
Expense arising from insurance contracts 0 0
Income arising from insurance contracts 0 0
Expense arising from insurance contracts 0 0
Disclosure of net, gross and reinsurer's share for amounts arising from insurance
contracts [Abstract]
Disclosure of net, gross and reinsurer's share for amounts arising from insurance
contracts [Line items]
Income arising from insurance contracts 0 0
Expense arising from insurance contracts 0 0

181
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Unless otherwise specified, all monetary values are in Millions of INR

01/04/2024 01/04/2023
to to
31/03/2025 31/03/2024
Disclosure of insurance contracts [TextBlock]
Whether there are any insurance contracts as per Ind AS 104 No No
Disclosure of amounts arising from insurance contracts [TextBlock]
Disclosure of types of insurance contracts [TextBlock]
Disclosure of net, gross and reinsurer's share for amounts arising from
insurance contracts [TextBlock]

[613100] Notes - Effects of changes in foreign exchange rates

Unless otherwise specified, all monetary values are in Millions of INR
01/04/2024 01/04/2023
to to
31/03/2025 31/03/2024
Disclosure of effect of changes in foreign exchange rates [TextBlock]
Whether there is any change in functional currency during the year No No
Description of presentation currency INR

[500100] Notes - Subclassification and notes on income and expenses

Miscellaneous other operating revenues [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Miscellaneous other operating revenues [Axis] 1
01/04/2024 01/04/2023
to to
31/03/2025 31/03/2024
Disclosure of other operating revenues [Abstract]
Other operating revenues [Abstract]
Miscellaneous other operating revenues 1,575 1,959
Miscellaneous other operating revenues [Abstract]
Miscellaneous other operating revenues [LineItems]
Other operating Other operating
Description of miscellaneous other operating revenues revenue revenue
Miscellaneous other operating revenues 1,575 1,959

182
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Unless otherwise specified, all monetary values are in Millions of INR

01/04/2024 01/04/2023
to to
31/03/2025 31/03/2024
Subclassification and notes on income and expense explanatory [TextBlock]
Disclosure of revenue from operations [Abstract]
Disclosure of revenue from operations for other than finance company
[Abstract]
Revenue from sale of products 0 0
Revenue from sale of services 58,852 49,259
Other operating revenues 1,575 1,959
Other operating revenues 1,575 1,959

Total revenue from operations other than finance company (A) 60,427
51,218

Total revenue from operations 60,427 51,218

Disclosure of other operating revenues [Abstract]
Other operating revenues [Abstract]
Miscellaneous other operating revenues 1,575 1,959
Total other operating revenues 1,575 1,959
Total other operating revenues 1,575 1,959
Miscellaneous other operating revenues [Abstract]
Miscellaneous other operating revenues 1,575 1,959
Disclosure of other income [Abstract]
Interest income [Abstract]
Interest income on current investments [Abstract]
Interest on fixed deposits, current investments 0 0
Interest from customers on amounts overdue, current investments 0 0
Interest on current intercorporate deposits 0 0
Interest on current debt securities 0 0
Interest on current government securities 0 0
Interest on other current investments 0 0
Total interest income on current investments 0 0
Interest income on non-current investments [Abstract]
Interest on fixed deposits, non-current investments 0 0
Interest from customers on amounts overdue, non-current
0 0
investments
Interest on non-current intercorporate deposits 0 0
Interest on non-current debt securities 0 0
Interest on non-current government securities 0 0
Interest on other non-current investments 0 0
Total interest income on non-current investments 0 0
Total interest income 0 0
Dividend income [Abstract]
Dividend income non-current investments [Abstract]
Dividend income non-current investments from subsidiaries 0 0
Dividend income non-current equity securities 0 0
Dividend income non-current mutual funds 0 0
Dividend income non-current investments from others 0 0
Total dividend income non-current investments 0 0
Total dividend income 0 0
Other non-operating income [Abstract]
Surplus on disposal, discard, demolishment and destruction of
0 4
depreciable property, plant and equipment
Interest on income tax refund (B) 91 (C) 30
Liabilities written off 211 0

Miscellaneous other non-operating income (D) 641 (E) 485

Total other non-operating income 943 519
Total other income 943 519
Disclosure of finance cost [Abstract]
Interest expense [Abstract]
Interest expense borrowings (F) 992 (G) 593
Interest lease financing 6 10
Total interest expense 998 603
Total finance costs 998 603
Employee benefit expense [Abstract]
Salaries and wages 4,365 4,436
Managerial remuneration [Abstract]
Remuneration to directors [Abstract]

183
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Salary to directors 0 0
Total remuneration to directors 0 0
Remuneration to manager [Abstract]
Salary to manager 0 0
Total remuneration to manager 0 0
Total managerial remuneration 0 0
Contribution to provident and other funds [Abstract]
Contribution to provident and other funds for others 56 61
Total contribution to provident and other funds 56 61
Employee share based payment [Abstract]
Employee share based payment- Equity settled 2,747 3,242
Total employee share based payment 2,747 3,242
Gratuity 28 34
Staff welfare expense 292 227
Total employee benefit expense 7,488 8,000
Depreciation, depletion and amortisation expense [Abstract]
Depreciation expense 138 207

Amortisation expense (H) 118 (I) 110

Total depreciation, depletion and amortisation expense 256 317
Breakup of other expenses [Abstract]
Consumption of stores and spare parts 0 0
Power and fuel 0 0
Rent 263 346
Repairs to building 54 40
Repairs to machinery 0 0
Insurance 0 0
Rates and taxes excluding taxes on income [Abstract]
Cost taxes other levies by government local authorities 0 99
Total rates and taxes excluding taxes on income 0 99
Information technology expenses 3,078 2,949
Travelling conveyance 82 70
Legal professional charges 196 259
Directors sitting fees 0 0

Advertising promotional expenses (J) 21,053 (K) 16,774

After sales service expenses (L) 985 (M) 910
Cost repairs maintenance other assets 27 32
Cost royalty 188 180
Impairment loss on financial assets [Abstract]
Impairment loss on financial assets trade receivables 294 0
Total impairment loss on financial assets 294 0
Net provisions charged [Abstract]
Other provisions created (N) 368 (O) 347
Total net provisions charged 368 347
Loss on disposal of intangible Assets 0 0
Loss on disposal, discard, demolishment and destruction of
0 0
depreciable property plant and equipment
Payments to auditor [Abstract]
Payment for audit services 5 4
Payment for taxation matters 1 1
Payment for other services 2 0
Total payments to auditor 8 5
CSR expenditure 0 0

Miscellaneous expenses (P) 505 (Q) 335

Total other expenses 27,101 22,346
Current tax [Abstract]
Current tax pertaining to previous years 0 0
Current tax pertaining to current year 0 0
MAT credit recognised during year 0 0
Total current tax 0 0

184
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Footnotes
(A)
15.1. Disaggregation of revenue from operations:
For the year For the year
ended ended
March 31, March 31,
2025 2024
Income from services
- Marketplace services 20,518 17,746
- Logistic services 29,189 24,390
- Advertisement services 9,145 7,123
Other operating revenue 1,575 1,959
Total 60,427 51,218

The Group primarily engages in marketplace services under which third party sellers sell
products on the Group's website to customers.

15.2. Timing of revenue recognition

For the year For the year
ended ended
March 31, March 31,
2025 2024
Services provided at a point in time 21,556 18,974
Services provided over a period of time 38,871 32,244
Total 60,427 51,218

15.3. Contract balances:

As at As at
March 31, March 31,
2025 2024
Trade receivables including unbilled revenue (refer note 6) 4,191 3,780
Contract liabilities (refer note 10) 200 225

15.4. Refund liabilities

As at As at
March 31, March 31,
2025 2024
Refund liabilities arising from rights of return 316 379

(B)

Interest income majorly represents interest on Income tax refunds.

(C)

Interest income majorly represents interest on Income tax refunds.

(D)

Other non-operating income* (20) + Royalty income (600) + Sublease revenue (21)

*Other non-operating income majorly represents income from insurance claims received during the year.

(E)

Other non-operating income* (7) + Royalty income (456) + Sublease revenue (22)

185
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

*Other non-operating income majorly represents income from insurance claims received during the year.

(F)

Includes interest expense towards loan taken from related parties (refer note 22)

(G)

Includes interest expense towards loan taken from related parties (refer note 22)

(H)

Amortization of right-of-use assets (refer note 25) (111) + Amortization of intangible assets (refer note 3(ii)) (7)

(I)

Amortization of right-of-use assets (refer note 25) (103) + Amortization of intangible assets (refer note 3(ii)) (7)

(J)

Advertisement and business promotion expenses (21053)

(K)

Advertisement and business promotion expenses (16774)

(L)

Customer care expenses (985)

(M)

Customer care expenses (910)

(N)

Allowance for doubtful debts and advances (368)

(O)

Allowance for doubtful debts and advances (347)

(P)

Outsourced manpower expenses (355) +Recruitment charges (38) +Miscellaneous expenses (27) + Foreign exchange loss (net) (85)

(Q)

Outsourced manpower expenses (290) +Recruitment charges (0) +Miscellaneous expenses (4) + Foreign exchange loss (net) (41)

[613200] Notes - Cash flow statement

Unless otherwise specified, all monetary values are in Millions of INR
01/04/2024 01/04/2023
to to 31/03/2023
31/03/2025 31/03/2024
Disclosure of cash flow statement [TextBlock]
Cash and cash equivalents cash flow statement 228 377 156
Cash and cash equivalents 228 377
Income taxes paid (refund), classified as operating activities -942 539
Total income taxes paid (refund) -942 539

186
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

[500200] Notes - Additional information statement of profit and loss

Unless otherwise specified, all monetary values are in Millions of INR
01/04/2024 01/04/2023
to to
31/03/2025 31/03/2024
Additional information on profit and loss account explanatory [TextBlock]
Net write-downs (reversals of write-downs) of property, plant and
0 0
equipment
Other Comprehensive income, attributable to owners of parent -22 0
Other Comprehensive income, attributable to non-controlling interests 0 0
Share of profit (loss) of associates accounted for using equity
-25 -198
method
Total share of profit (loss) of associates and joint ventures
-25 -198
accounted for using equity method
Changes in inventories of finished goods 0 0
Changes in inventories of work-in-progress 0 0
Changes in inventories of stock-in-trade 0 0
Changes in other inventories 0 0
Total changes in inventories of finished goods, work-in-progress and
0 0
stock-in-trade
Domestic sale manufactured goods 0 0
Domestic sale traded goods 0 0
Total domestic turnover goods, gross 0 0
Export sale manufactured goods 0 0
Export sale traded goods 0 0
Total export turnover goods, gross 0 0
Total revenue from sale of products 0 0

Domestic revenue services (A) 58,852 (B) 49,259

Total revenue from sale of services 58,852 49,259
Gross value of transaction with related parties 186,933 234,656
Bad debts of related parties 0 0

Footnotes
(A)
Revenue from contracts with customers
For the year ended
March 31, 2024
Income from services
- Marketplace services 20,518
- Logistic services 29,189
- Advertisement services 9,145
Total 58,852

(B)
Revenue from contracts with customers
For the year ended
March 31, 2024
Income from services
- Marketplace services 17,746
- Logistic services 24,390
- Advertisement services 7,123
Total 49,259

187
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

[611200] Notes - Fair value measurement

Unless otherwise specified, all monetary values are in Millions of INR
01/04/2024 01/04/2023
to to
31/03/2025 31/03/2024
Textual information (23)
Disclosure of fair value measurement [TextBlock] [See below]
Disclosure of fair value measurement of assets [TextBlock]
Whether assets have been measured at fair value No No
Disclosure of fair value measurement of liabilities [TextBlock]
Whether liabilities have been measured at fair value No No
Disclosure of fair value measurement of equity [TextBlock]
Whether equity have been measured at fair value No No

Textual information (23)

Disclosure of fair value measurement [Text Block]

31. Fair Value Hierarchy
Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between
market participants at the measurement date (i.e. an exit price).
The Group classifies fair value measurement using a fair value hierarchy that reflects the significance of the inputs used in
making the measurements. The fair value hierarchy have the following levels:
Level 1 – Quoted prices (unadjusted) in active markets for identical assets or liabilities,
Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly
(i.e., as prices) or indirectly (i.e., derived from prices), and
Level 3 – Inputs for the asset or liability that are not based on observable market data (unobservable inputs).

There are no financial instruments carried at fair value outstanding as at March 31, 2025 and as at March 31, 2024.

[613300] Notes - Operating segments

Unless otherwise specified, all monetary values are in Millions of INR
01/04/2024 01/04/2023
to to
31/03/2025 31/03/2024
Textual information (24)
Disclosure of entity's operating segments [TextBlock] [See below]
Disclosure of reportable segments [TextBlock]
Whether there are any reportable segments No No
Disclosure of major customers [TextBlock]
Whether there are any major customers No No

Textual information (24)

Disclosure of entity's operating segments [Text Block]

The Group primarily engages in marketplace services operating an online portal on which third-party sellers sell products to customers. The
Board of Directors of the Group allocate the resources and assess the performance of the Group, thus are the Chief Operating Decision Maker
(CODM). The CODM monitors the operating results of the business as a single segment, hence no separate segment needs to be disclosed.
The Group does not distinguish revenues, costs and expenses between different businesses in its internal reporting, and reports costs and
expenses by nature as a whole. The Group operates and manages its business as a single segment mainly through the sale of products and
services. As the Group's long-lived assets are all located in India and most of the Group's revenues are derived from India, no geographical
information is presented.
During the year, Nil customers (March 31, 2024: Nil) contributed individually to more than 10% of total revenue.

188
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

[610700] Notes - Business combinations

Disclosure of reconciliation of changes in goodwill [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Business combinations [Axis] Goodwill
Carrying amount, accumulated depreciation, amortisation and Gross carrying
Carrying amount [Member]
impairment and gross carrying amount [Axis] amount [Member]
01/04/2024 01/04/2023 01/04/2024
to to 31/03/2023 to
31/03/2025 31/03/2024 31/03/2025
Disclosure of reconciliation of changes in goodwill
[Abstract]
Disclosure of reconciliation of changes in
goodwill [Line items]
Name of acquiree Goodwill
Description of acquiree Goodwill
Reconciliation of changes in goodwill [Abstract]
Changes in goodwill [Abstract]
Additional recognition, goodwill 0 0 0
Total increase (decrease) in goodwill 0 0 0
Goodwill at end of period 768 768 768 768

Disclosure of reconciliation of changes in goodwill [Table] ..(2)

Unless otherwise specified, all monetary values are in Millions of INR
Business combinations [Axis] Goodwill
Carrying amount, accumulated depreciation, amortisation and
Gross carrying amount [Member] Accumulated impairment [Member]
impairment and gross carrying amount [Axis]
01/04/2023 01/04/2024 01/04/2023
to 31/03/2023 to to
31/03/2024 31/03/2025 31/03/2024
Disclosure of reconciliation of changes in goodwill
[Abstract]
Disclosure of reconciliation of changes in
goodwill [Line items]
Name of acquiree Goodwill Goodwill Goodwill
Description of acquiree Goodwill Goodwill Goodwill
Reconciliation of changes in goodwill [Abstract]
Changes in goodwill [Abstract]
Additional recognition, goodwill 0 0 0
Total increase (decrease) in goodwill 0 0 0
Goodwill at end of period 768 768 0 0

Disclosure of reconciliation of changes in goodwill [Table] ..(3)

Unless otherwise specified, all monetary values are in Millions of INR
Business combinations [Axis] Goodwill
Accumulated
Carrying amount, accumulated depreciation, amortisation and impairment and gross carrying amount [Axis] impairment
[Member]
31/03/2023
Disclosure of reconciliation of changes in goodwill [Abstract]
Disclosure of reconciliation of changes in goodwill [Line items]
Reconciliation of changes in goodwill [Abstract]
Goodwill at end of period 0

Unless otherwise specified, all monetary values are in Millions of INR

01/04/2024 01/04/2023
to to
31/03/2025 31/03/2024
Disclosure of business combinations [TextBlock]
Whether there is any business combination No No
Disclosure of reconciliation of changes in goodwill [TextBlock]
Whether there is any goodwill arising out of business combination Yes Yes
Disclosure of acquired receivables [TextBlock]
Whether there are any acquired receivables from business combination No No
Disclosure of contingent liabilities in business combination [TextBlock]
Whether there are any contingent liabilities in business combination No No

189
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

[611500] Notes - Interests in other entities

Disclosure of details of subsidiaries [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Subsidiaries [Axis] 1
01/04/2024 01/04/2023
to to
31/03/2025 31/03/2024
Disclosure of subsidiaries [Abstract]
Disclosure of subsidiaries [Line items]
XS Brands Consultancy XS Brands Consultancy
Name of subsidiary Private Limited Private Limited
Principal place of business of subsidiary Maharashtra
Country of incorporation or residence of subsidiary INDIA INDIA
CIN of subsidiary company U74140MH2010PTC211499 U74140MH2010PTC211499
Identification number of foreign subsidiary in country of incorporation or
NA
residence
Section under which company became subsidiary Section 2(87)(ii) Section 2(87)(ii)
Whether subsidiary has filed balance sheet Yes Yes
SRN of filing of balance sheet by subsidiary AB5850315 N04849642
Reason if no filing has been made by subsidiary NA NA
Whether financial year of subsidiary different from financial year of holding
No No
company
Financial year of subsidiary [Abstract]
Start date of accounting period of subsidiary 01/04/2024 01/04/2023
End date of accounting period of subsidiary 31/03/2025 31/03/2024
Percentage of shareholding in subsidiary 51.00% 51.00%
Key information about subsidiary [Abstract]
Reporting currency of subsidiary INR INR
Exchange rate as applicable for subsidiary 1 1
Share capital of subsidiary 4.26 4.26
Reserves and surplus of subsidiary -2.31 -1.43
Total assets of subsidiary 2.51 3.17
Total liabilities of subsidiary 0.55 0.38
Investment of subsidiary 0 0
Turnover of subsidiary 0 0
Profit before tax of subsidiary 0.88 0.91
Provision for tax of subsidiary 0 0
Profit after tax of subsidiary 0.88 0.91
Proposed dividend of subsidiary 0 0
XS Brands Consultancy XS Brands Consultancy
Name of subsidiary Private Limited Private Limited
Principal place of business of subsidiary Maharashtra
Country of incorporation or residence of subsidiary INDIA INDIA
CIN of subsidiary company U74140MH2010PTC211499 U74140MH2010PTC211499
Identification number of foreign subsidiary in country of incorporation or
NA
residence

190
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Disclosure of associates [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Associates [Axis] 1 2
01/04/2024 01/04/2023 01/04/2024 01/04/2023
to to to to
31/03/2025 31/03/2024 31/03/2025 31/03/2024
Disclosure of associates [Abstract]
Disclosure of associates [Line items]
Name of associate entity Wrogn Private Limited Wrogn Private Limited Myntra Inc Myntra Inc
UNITED
Country of incorporation of associate INDIA INDIA
STATES
UNITED STATES

CIN of associate entity U92412KA2012PTC103560 U92412KA2012PTC103560

Latest audited balance sheet date 31/03/2025 31/03/2024 31/03/2025 31/03/2024
Whether associate has been considered in
Yes Yes Yes Yes
consolidation
Proportion of ownership interest in associate 2.53% 3.33% 41.05% 41.05%
Proportion of voting rights held in associate 2.53% 3.33% 41.05% 41.05%
Amount of investment in associate 367.23 369.12 0 0
Number of shares held of associate [shares] 199 [shares] 199 [shares] 48,75,000 [shares] 48,75,000
Profit (loss) for year associate
Profit (loss) for year associate
-19 -17 0 0
considered in consolidation
Profit (loss) for year associate not
0 0 0.68 0.28
considered in consolidation
Description of nature and extent of
significant restrictions on Wrogn Private Limited Wrogn Private Limited Myntra Inc Myntra Inc
transfer of funds to parent
Latest audited balance sheet date 31/03/2025 31/03/2024 31/03/2025 31/03/2024
Description of nature and extent of
significant restrictions on Wrogn Private Limited Wrogn Private Limited Myntra Inc Myntra Inc
transfer of funds to parent

Unless otherwise specified, all monetary values are in Millions of INR

01/04/2024 01/04/2023
to to
31/03/2025 31/03/2024
Textual information (25)
Disclosure of interests in other entities [TextBlock] [See below]
Disclosure of interests in subsidiaries [TextBlock]
Disclosure of subsidiaries [TextBlock]
Whether company has subsidiary companies Yes Yes
Number of subsidiary companies [pure] 1 [pure] 1
Whether company has subsidiary companies which are yet to commence
No No
operations
Whether company has subsidiary companies liquidated or sold during
No No
year
Disclosure of interests in associates [TextBlock]
Disclosure of associates [TextBlock]
Whether company has invested in associates Yes Yes
Whether company has associates which are yet to commence operations No No
Whether company has associates liquidated or sold during year No No
Disclosure of interests in joint arrangements [TextBlock]
Disclosure of joint ventures [TextBlock]
Whether company has invested in joint ventures No No
Whether company has joint ventures which are yet to commence
No No
operations
Whether company has joint ventures liquidated or sold during year No No
Disclosure of interests in unconsolidated structured entities [TextBlock]
Disclosure of unconsolidated structured entities [TextBlock]
Whether there are unconsolidated structured entities No No
Disclosure of investment entities [TextBlock]
Disclosure of information about unconsolidated subsidiaries [TextBlock]
Whether there are unconsolidated subsidiaries No No
Disclosure of information about unconsolidated structured entities
controlled by investment entity [TextBlock]
Whether there are unconsolidated structured entities controlled by
No No
investment entity

191
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Textual information (25)

Disclosure of interests in other entities [Text Block]

34. Statutory
group
information

Net Assets, i.e.,

Name of the Share in other Share in total
total assets Share in profit
entity in the comprehensive comprehensive
minus total and (loss)
group income income
liabilities
As % of
As % of As % of As % of total
consolidated other
consolidated Amount consolidated Amount Amount comprehensive Amount
comprehensive
net assets profit and loss income
income

Parent
India
Myntra
Designs
Private Limited
March 31,
99% 15,137 100% 5,509 100% (22) 100%
2025 5,487
March 31,
99% 9,650 164% 506 100% 0 164%
2024 506

Associate
USA
Myntra Inc.
March 31,
0% - 0% - 0% - 0%
2025 -
March 31,
0% - 0% - 0% - 0%
2024 -

Associate
India
Universal
Sportsbiz
Private Limited
March 31,
1% 85 0% (25) 0% (0) 0%
2025 (25)
March 31,
1% 110 -64% (198) 0% - -64%
2024 (198)

Subsidiary
India
XS Brands
Consultancy
Private Limited
March 31,
0% 2 0% (1) 0% - 0%
2025 (1)
March 31,
0% 3 0% 1 0% - 0%
2024 1

Total
March 31,
100% 15,224 100% 5,483 100% (22) 100%
2025 5,461
March 31,
100% 9,763 100% 309 100% 0 100%
2024 309

192
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

35. Investment in equity accounted associates

The Group has the following investments accounted for under equity method as at March 31, 2025 and March 31, 2024:

As at As at
Particulars
March 31, 2025 March 31, 2024
Carrying value of investment in associates 85 110

The table below provides summarised financial information of the Group's associate. These associates are considered to be individually
immaterial.

As at As at
Particulars
March 31, 2025 March 31, 2024
Group's share of:
Loss for the year (25) (198)
Other comprehensive loss for the year (0) 0
(198)
Total comprehensive loss for the year (25)

[613400] Notes - Consolidated Financial Statements

Disclosure of details of entities consolidated [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Entities consolidated [Axis] 1 2 3 4
01/04/2024 01/04/2024 01/04/2024 01/04/2024
to to to to
31/03/2025 31/03/2025 31/03/2025 31/03/2025
Disclosure of additional information consolidated
financial statements [Abstract]
Disclosure of additional information
consolidated financial statements [Line items]
XS Brands
Myntra Designs Wrogn Private
Name of entity consolidated Private Limited
Myntra Inc.
Limited
Consultancy Private
Limited
Type of entity consolidated Parent Foreign Associate Indian Associate Indian Subsidiary
Amount of net assets of entity consolidated 15,137 0 85 2
Net assets of entity as percentage of
99.00% 0.00% 1.00% 0.00%
consolidated net assets
Amount of share in profit or loss of entity
5,509 0 -25 -1
consolidated
Share in profit or loss of entity as
percentage of consolidated profit or 100.00% 0.00% 0.00% 0.00%
loss
Amount of share in other comprehensive income
-22 0 0 0
consolidated
Share in other comprehensive income consolidated 100.00% 0.00% 0.00% 0.00%
Amount of share in comprehensive income
5,487 0 -25 -1
consolidated
Share in comprehensive income consolidated 100.00% 0.00% 0.00% 0.00%

193
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Disclosure of details of subsidiaries [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Subsidiaries [Axis] 1
01/04/2024
to
31/03/2025
Disclosure of details of subsidiaries [Abstract]
Disclosure of details of subsidiaries [LineItems]
XS Brands
Name of subsidiary consolidated Consultancy Private
Limited
Principal place of business of subsidiary consolidated Maharashtra
Country of incorporation or residence of subsidiary consolidated INDIA
Date of end of reporting period of financial statements of subsidiary consolidated 31/03/2025
Description of reason why using different reporting date or period for subsidiary consolidated NA
Proportion of ownership interest in subsidiary consolidated 51.00%
Proportion of voting power held in subsidiary consolidated 51.00%

Unless otherwise specified, all monetary values are in Millions of INR

01/04/2024
to
31/03/2025
Disclosure of notes on consolidated financial statements explanatory
[TextBlock]
Whether consolidated financial statements is applicable on company Yes
Disclosure of details of subsidiaries [TextBlock]
Disclosure of additional information consolidated financial statements
[TextBlock]

[611400] Notes - Separate financial statements

Disclosure of subsidiaries [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Subsidiaries [Axis] 1
01/04/2024 01/04/2023
to to
31/03/2025 31/03/2024
Disclosure of subsidiaries [Abstract]
Disclosure of subsidiaries [Line items]
XS Brands Consultancy XS Brands Consultancy
Name of subsidiary Private Limited Private Limited
CIN of subsidiary company U74140MH2010PTC211499 U74140MH2010PTC211499
Identification number of foreign subsidiary in country of incorporation or
NA
residence
Principal place of business of subsidiary Maharashtra
Country of incorporation or residence of subsidiary INDIA INDIA

Disclosure of associates [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Associates [Axis] 1 2
01/04/2024 01/04/2023 01/04/2024 01/04/2023
to to to to
31/03/2025 31/03/2024 31/03/2025 31/03/2024
Disclosure of associates [Abstract]
Disclosure of associates [Line items]
Name of associate entity Wrogn Private Limited Wrogn Private Limited Myntra Inc Myntra Inc
CIN of associate entity U92412KA2012PTC103560 U92412KA2012PTC103560
UNITED
Country of incorporation of associate INDIA INDIA
STATES
UNITED STATES

Proportion of ownership interest in associate 2.53% 3.33% 41.05% 41.05%

Proportion of voting rights held in associate 2.53% 3.33% 41.05% 41.05%

194
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

[610800] Notes - Related party

Disclosure of transactions between related parties [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Key management personnel of entity or
Categories of related parties [Axis] Parent [Member]
parent [Member]
Related party [Axis] 6 8
01/04/2024 01/04/2023 01/04/2024 01/04/2023
to to to to
31/03/2025 31/03/2024 31/03/2025 31/03/2024
Disclosure of transactions between related parties
[Abstract]
Disclosure of transactions between related
parties [Line items]
FK Myntra
FK Myntra Holdings
Name of related party Holdings Private
Private Limited
Santosh Kevlani Santosh Kevlani
Limited
Country of incorporation or residence of
SINGAPORE SINGAPORE INDIA INDIA
related party
Permanent account number of related party ACKPK1497P ACKPK1497P
Issue of equity
Issue of equity share
Description of nature of transactions with share capital
capital including Remuneration Remuneration
related party including securities
securities premium
premium
Description of nature of related party Key Management Key Management
Holding company Holding company
relationship Personnel Personnel
Related party transactions [Abstract]
Purchases of goods related party transactions 0 0 0 0
Other related party transactions expense (A) 98 (B) 110
Other related party transactions
(C) 0 (D) 12,686
contribution received
Outstanding balances for related party
transactions [Abstract]
Amounts payable related party transactions 0 0 0 0
Amounts receivable related party transactions 0 0 0 0
Expense recognised during period for bad
and doubtful debts for related party 0 0 0 0
transaction

Footnotes
(A)

Remuneration (including ESOP cost)# (98)

# The remuneration to the key managerial personnel includes share based payments, employer contribution to Provident fund but
does not include the provisions made for gratuity and leave benefits as they are determined on an actuarial basis for the Group as a
whole.

(B)

Remuneration (including ESOP cost)# (110)

# The remuneration to the key managerial personnel includes share based payments, employer contribution to Provident fund but
does not include the provisions made for gratuity and leave benefits as they are determined on an actuarial basis for the Group as a
whole.

(C)

Issue of equity share capital including securities premium (0)

(D)

Issue of equity share capital including securities premium (12686)

195
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Disclosure of transactions between related parties [Table] ..(2)

Unless otherwise specified, all monetary values are in Millions of INR
Categories of related parties [Axis] Other related parties [Member]
Related party [Axis] 1 2
01/04/2024 01/04/2023 01/04/2024 01/04/2023
to to to to
31/03/2025 31/03/2024 31/03/2025 31/03/2024
Disclosure of transactions between
related parties
[Abstract]
Disclosure of transactions
between related
parties [Line items]
Scapic Innovations Private Scapic Innovations Private GOAT Brand Labs Private GOAT Brand Labs Private
Name of related party Limited Limited Limited Limited
Country of incorporation or
residence of INDIA INDIA INDIA INDIA
related party
CIN of related party U72900KA2017PTC102142 U72900KA2017PTC102142 U74999KA2021PTC148080 U74999KA2021PTC148080
Description of nature of Commission expense, Commission expense,
Logistics income, Income Logistics income, Income
transactions with Other operating revenue Other operating revenue
from advertisement from advertisement
related party servivces servivces
Description of nature of related
party Other Other Other Other
relationship
Related party transactions
[Abstract]
Purchases of goods related
0 0 0 0
party transactions
Other related party
0 0 (A) 1 (B) 0
transactions expense
Other related party
(C) 6 (D) 0 (E) 3 (F) 0
transactions income
Outstanding balances for
related party
transactions [Abstract]
Amounts payable related
0 0 0 0
party transactions
Amounts receivable related
7 0 1 0
party transactions
Expense recognised during
period for bad
and doubtful debts for related 0 0 0 0
party
transaction

Footnotes
(A)

Commission expense (1)

(B)

Commission expense (0)

(C)

Other operating revenue ^)

(D)

Other operating revenue (0)

(E)

Logistics income (2) + Income from advertisement servivces (1)

(F)

Logistics income (0) + Income from advertisement servivces (0)

196
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Disclosure of transactions between related parties [Table] ..(3)

Unless otherwise specified, all monetary values are in Millions of INR
Categories of related parties [Axis] Other related parties [Member]
Related party [Axis] 3 4
01/04/2024 01/04/2023 01/04/2024 01/04/2023
to to to to
31/03/2025 31/03/2024 31/03/2025 31/03/2024
Disclosure of transactions between
related parties
[Abstract]
Disclosure of transactions between
related
parties [Line items]
Arvind Youth Brands Arvind Youth Brands LOGISTICSNOW LOGISTICSNOW
Name of related party Private Limited Private Limited PRIVATE LIMITED PRIVATE LIMITED
Country of incorporation or
residence of INDIA INDIA INDIA INDIA
related party
CIN of related party U52100GJ2020PTC112995 U52100GJ2020PTC112995 U63030AP2016PTC103161 U63030AP2016PTC103161
Description of nature of
Income from advertisement Income from advertisement
transactions with services services
Investment in equity shares Investment in equity shares
related party
Description of nature of related
party Other Other Other Other
relationship
Related party transactions
[Abstract]
Purchases of goods related party
0 0 0 0
transactions
Other related party transactions
(A) 2 (B) 0
income
Other related party transactions
0 0
contribution received
Outstanding balances for related
party
transactions [Abstract]
Amounts payable related party
0 0 0 0
transactions
Amounts receivable related
1 0 0 0
party transactions
Expense recognised during period
for bad
and doubtful debts for related 0 0 0 0
party
transaction

Footnotes
(A)

Income from advertisement services (2)

(B)

Income from advertisement services (0)

197
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Disclosure of transactions between related parties [Table] ..(4)

Unless otherwise specified, all monetary values are in Millions of INR
Categories of related parties [Axis] Other related parties [Member]
Related party [Axis] 5 7
01/04/2024 01/04/2023 01/04/2024 01/04/2023
to to to to
31/03/2025 31/03/2024 31/03/2025 31/03/2024
Disclosure of transactions between
related parties
[Abstract]
Disclosure of transactions
between related
parties [Line items]
ANS Digital Private ANS Digital Private
Name of related party Limited Limited
Wrogn Private Limited Wrogn Private Limited

Country of incorporation or
residence of INDIA INDIA INDIA INDIA
related party
CIN of related party U74999DL2017PTC315839 U74999DL2017PTC315839 U92412KA2012PTC103560 U92412KA2012PTC103560
Income from marketplace Income from marketplace
Description of nature of services, Purchase of goods services, Purchase of goods
for consumption, for consumption,
transactions with Other expenses Other expenses
Impairment, Conversion of Impairment, Conversion of
related party Preference Shares to Equity, Preference Shares to Equity,
Investment in Equity Investment in Equity
Description of nature of related
party Fellow Subsidiary company Fellow Subsidiary company Associate Associate
relationship
Related party transactions
[Abstract]
Purchases of goods related
0 0 0 0
party transactions
Other related party
0 2
transactions expense
Other related party
transactions (A) 0 (B) 6
contribution received
Outstanding balances for related
party
transactions [Abstract]
Amounts payable related party
0 2 0 0
transactions
Amounts receivable related
0 0 0 0
party transactions
Expense recognised during
period for bad
and doubtful debts for related 0 0 0 0
party
transaction

Footnotes
(A)

Conversion of Preference Shares to Equity (0) + Investments in equity accounted investee (0)

(B)

Conversion of Preference Shares to Equity (2) + Investments in equity accounted investee (4)

198
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Disclosure of transactions between related parties [Table] ..(5)

Unless otherwise specified, all monetary values are in Millions of INR
Categories of related parties [Axis] Other related parties [Member]
Related party [Axis] 9 10
01/04/2024 01/04/2023 01/04/2024 01/04/2023
to to to to
31/03/2025 31/03/2024 31/03/2025 31/03/2024
Disclosure of transactions between related parties
[Abstract]
Disclosure of transactions between related
parties [Line items]
Flipkart Private Flipkart Private Instakart Services Private Instakart Services Private
Name of related party Limited Limited Limited Limited
Country of incorporation or residence of
SINGAPORE SINGAPORE INDIA INDIA
related party
CIN of related party U74900KA2015PTC080778 U74900KA2015PTC080778
Employee stock Employee stock
option expense, option expense,
Employee share Employee share
based payments based payments Logistics charges, Other Logistics charges, Other
Description of nature of transactions with cross charge cross charge operating revenue, Interest operating revenue, Interest
related party payable, Tax payable, Tax on loan, Intercorporate loan on loan, Intercorporate loan
withholding on withholding on taken / repaid taken / repaid
share based share based
payments payments
reimbursed reimbursed
Description of nature of related party
Other Other Fellow Subsidiary company Fellow Subsidiary company
relationship
Related party transactions [Abstract]
Purchases of goods related party transactions 0 0 0 0
Other related party transactions expense (A) 2,745 (B) 3,242 (C) 20,212 (D) 18,960
Other related party transactions income (E) 88 (F) 104
Other related party transactions
(G) 29,879 (H) 50,621
contribution made
Other related party transactions
0 0 (I) 28,103 (J) 51,302
contribution received
Outstanding balances for related party
transactions [Abstract]
Amounts payable related party transactions (K) 4,582 (L) 1,758 (M) 4,224 (N) 6,637
Amounts receivable related party transactions 0 0 (O) 41,945 (P) 37,236
Expense recognised during period for bad
and doubtful debts for related party 0 0 0 0
transaction

199
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Footnotes
(A)

Employee stock option expense (ESOP) (2745)

(B)

Employee stock option expense (ESOP) (3242)

(C)

Logistics charges (19991)+ Interest on loan* (221)

(D)

Logistics charges (18779)+ Interest on loan* (181)

(E)

Other operating revenue (88)

(F)

Other operating revenue (104)

(G)

Intercorporate loan repaid (29879)

(H)

Intercorporate loan repaid (50621)

(I)

Intercorporate loan taken (28103)

(J)

Intercorporate loan taken (51302)

(K)

Employee share based payments cross charge payable (4582)

(L)

Employee share based payments cross charge payable (1758)

(M)
Trade payables (2504) + Loan outstanding (1502) + Interest accrued and not due on borrowing (218)

(N)
Trade payables (3300) + Loan outstanding (3278) + Interest accrued and not due on borrowing (59)

(O)

Trade receivables (4) + Other receivables (41941)

(P)

200
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Trade receivables (19) + Other receivables (37217)

Disclosure of transactions between related parties [Table] ..(6)

Unless otherwise specified, all monetary values are in Millions of INR
Categories of related parties [Axis] Other related parties [Member]
Related party [Axis] 11 12
01/04/2024 01/04/2023 01/04/2024 01/04/2023
to to to to
31/03/2025 31/03/2024 31/03/2025 31/03/2024
Disclosure of transactions between
related parties
[Abstract]
Disclosure of transactions
between related
parties [Line items]
Fonte Fashions India Private Fonte Fashions India Private
Name of related party Phonepe Limited Phonepe Limited
Limited Limited
Country of incorporation or
residence of INDIA INDIA INDIA INDIA
related party
CIN of related party U67190KA2012PLC176031 U67190KA2012PLC176031 U17299KA2016PTC096551 U17299KA2016PTC096551
Description of nature of
Payment gateway charges, Payment gateway charges,
transactions with Other Expenses Other Expenses
Trade Receivable Trade Receivable
related party
Description of nature of related
party Fellow Subsidiary company Fellow Subsidiary company Other Other
relationship
Related party transactions
[Abstract]
Purchases of goods related
0 0 0 0
party transactions
Revenue from rendering of
services related 0 0
party transactions
Other related party
(A) 88 (B) 70
transactions expense
Outstanding balances for
related party
transactions [Abstract]
Amounts payable related
0 0 0 0
party transactions
Amounts receivable related
21 15 0 1
party transactions
Expense recognised during
period for bad
and doubtful debts for related 0 0 0 0
party
transaction

Footnotes
(A)

Payment gateway charges (60) + Other expenses (28)

(B)

Payment gateway charges (18) + Other expenses (52)

201
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Disclosure of transactions between related parties [Table] ..(7)

Unless otherwise specified, all monetary values are in Millions of INR
Categories of related parties [Axis] Other related parties [Member]
Related party [Axis] 13 14
01/04/2024 01/04/2023 01/04/2024 01/04/2023
to to to to
31/03/2025 31/03/2024 31/03/2025 31/03/2024
Disclosure of transactions between
related parties
[Abstract]
Disclosure of transactions
between related
parties [Line items]
Kalyr Retail Private Kalyr Retail Private
Name of related party Limited Limited
Cleartrip Private Limited Cleartrip Private Limited

Country of incorporation or
residence of INDIA INDIA INDIA INDIA
related party
CIN of related party U17309DL2018PTC331801 U17309DL2018PTC331801 U63040MH2005PTC153232 U63040MH2005PTC153232
Description of nature of Income from advertisement Income from advertisement
Other income and Other Other income and Other
transactions with services, Other operating services, Other operating
Expenses Expenses
related party revenue revenue
Description of nature of related
party Other Other Fellow Subsidiary company Fellow Subsidiary company
relationship
Related party transactions
[Abstract]
Purchases of goods related
0 0 0 0
party transactions
Other related party
(A) 9 (B) 10
transactions expense
Other related party
0 0
transactions income
Outstanding balances for
related party
transactions [Abstract]
Amounts payable related
0 0 (C) 3 (D) 11
party transactions
Amounts receivable related
3 0 0 1
party transactions
Expense recognised during
period for bad
and doubtful debts for related 0 0 0 0
party
transaction

Footnotes
(A)

Other Expenses (7) + Employee stock option expense (ESOP) (2)

(B)

Other Expenses (10) + Employee stock option expense (ESOP) (0)

(C)

Trade payables (1) + Employee share based payments cross charge payable (2)

(D)

Trade payables (11) + Employee share based payments cross charge payable (0)

202
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Disclosure of transactions between related parties [Table] ..(8)

Unless otherwise specified, all monetary values are in Millions of INR
Categories of related parties [Axis] Other related parties [Member]
Related party [Axis] 15 16
01/04/2024 01/04/2023 01/04/2024 01/04/2023
to to to to
31/03/2025 31/03/2024 31/03/2025 31/03/2024
Disclosure of transactions between
related parties
[Abstract]
Disclosure of transactions
between related
parties [Line items]
Cleartrip Packages & Tours Cleartrip Packages & Tours F1 Info Solutions & F1 Info Solutions &
Name of related party Private Limited Private Limited Services Private Limited Services Private Limited
Country of incorporation or
residence of INDIA INDIA INDIA INDIA
related party
CIN of related party U63030MH2017PTC299302 U63030MH2017PTC299302 U72300KA2012PTC147731 U72300KA2012PTC147731
Description of nature of
transactions with Other expenses Other expenses Other expenses Other expenses
related party
Description of nature of related
party Fellow Subsidiary company Fellow Subsidiary company Fellow Subsidiary company Fellow Subsidiary company
relationship
Related party transactions
[Abstract]
Purchases of goods related
0 0 0 0
party transactions
Other related party
72 14 1 0
transactions expense
Outstanding balances for
related party
transactions [Abstract]
Amounts payable related
13 13 0 0
party transactions
Amounts receivable related
0 0 (A) 4 (B) 0
party transactions
Expense recognised during
period for bad
and doubtful debts for related 0 0 0 0
party
transaction

Footnotes
(A)

Other Current Assets (4)

(B)

Other Current Assets (0)

203
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Disclosure of transactions between related parties [Table] ..(9)

Unless otherwise specified, all monetary values are in Millions of INR
Categories of related parties [Axis] Other related parties [Member]
Related party [Axis] 18 20
01/04/2024 01/04/2023 01/04/2024 01/04/2023
to to to to
31/03/2025 31/03/2024 31/03/2025 31/03/2024
Disclosure of transactions between
related parties
[Abstract]
Disclosure of transactions
between related
parties [Line items]
Exmyn Brands Private Exmyn Brands Private Myntra Jabong India Private Myntra Jabong India Private
Name of related party Limited Limited Limited Limited
Country of incorporation or
residence of INDIA INDIA INDIA INDIA
related party
CIN of related party U74999KA2018PTC114121 U74999KA2018PTC114121 U74900KA2015FTC079383 U74900KA2015FTC079383
Intercorporate loan taken Intercorporate loan taken
Description of nature of and repaid, Income from and repaid, Income from
No Transactions during the No Transactions during the advertisement services, advertisement services,
transactions with year year Other operating revenue, Other operating revenue,
related party Interest on loan, Royalty Interest on loan, Royalty
income, Other Expense income, Other Expense
Description of nature of related
party Fellow Subsidiary company Fellow Subsidiary company Fellow Subsidiary company Fellow Subsidiary company
relationship
Related party transactions
[Abstract]
Purchases of goods related
0 0 0 0
party transactions
Other related party
(A) 1,229 (B) 893
transactions expense
Other related party
(C) 1,556 (D) 1,892
transactions income
Other related party
transactions (E) 24,247 (F) 14,829
contribution made
Other related party
transactions (G) 22,423 (H) 21,889
contribution received
Outstanding balances for
related party
transactions [Abstract]
Amounts payable related
0 0 (I) 5,750 (J) 7,297
party transactions
Amounts receivable related
0 0 (K) 163 (L) 240
party transactions
Expense recognised during
period for bad
and doubtful debts for related 0 0 0 0
party
transaction

204
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Footnotes
(A)

Other expenses (251) + Salaries, wages and bonus cross charge expenses (516)+Interest on loan* (462)

(B)

Other expenses (328) + Salaries, wages and bonus cross charge expenses (456)+Interest on loan*(109)

(C)

Income from advertisement services (1287) + Other operating revenue (29) + Royalty income (240)

(D)

Income from advertisement services (1619) + Other operating revenue (33) + Royalty income (240)

(E)

Intercorporate loan repaid (14829)

(F)

Intercorporate loan repaid (24247)

(G)

Intercorporate loan taken (22423)

(H)

Intercorporate loan taken (21889)

(I)

Loan outstanding* (5237) + Interest accrued and not due on borrowing (439) + Trade Payable (75)

(J)

Loan outstanding* (7061) + Interest accrued and not due on borrowing (108) + Trade Payable (129)

(K)

Trade receivables (163) + Other receivables (0)

(L)

Trade receivables (120) + Other receivables (120)

205
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Disclosure of transactions between related parties [Table] ..(10)

Unless otherwise specified, all monetary values are in Millions of INR
Categories of related parties [Axis] Other related parties [Member]
Related party [Axis] 21 22
01/04/2024 01/04/2023 01/04/2024 01/04/2023
to to to to
31/03/2025 31/03/2024 31/03/2025 31/03/2024
Disclosure of transactions between
related parties
[Abstract]
Disclosure of transactions
between related
parties [Line items]
Jade Eservices Private Jade Eservices Private Flipkart India Private Flipkart India Private
Name of related party Limited Limited Limited Limited
Country of incorporation or
residence of INDIA INDIA INDIA INDIA
related party
CIN of related party U72300DL2011PTC245145 U72300DL2011PTC245145 U51909KA2011PTC060489 U51909KA2011PTC060489
Description of nature of Sublease revenue, Other Sublease revenue, Other
Other Expenses, Salaries, Other Expenses, Salaries,
Expense, Salaries, wages Expense, Salaries, wages
transactions with and bonus cross charge and bonus cross charge
wages and bonus cross wages and bonus cross
related party charge income charge income
income income
Description of nature of related
party Fellow Subsidiary company Fellow Subsidiary company Fellow Subsidiary company Fellow Subsidiary company
relationship
Related party transactions
[Abstract]
Purchases of goods related
0 0 0 0
party transactions
Other related party
0 0 (A) 220 (B) 318
transactions expense
Other related party
0 0 0 0
transactions income
Outstanding balances for related
party
transactions [Abstract]
Amounts payable related party
0 0 (C) 35 (D) 74
transactions
Amounts receivable related
0 0 (E) 8 (F) 1
party transactions
Expense recognised during
period for bad
and doubtful debts for related 0 0 0 0
party
transaction

Footnotes
(A)

Salaries, wages and bonus cross charge income (220)

(B)

Salaries, wages and bonus cross charge income (318)

(C)

Trade payables (35)

(D)

Trade payables (74)

(E)

Trade receivables (4) + Other receivables (4)

(F)

Trade receivables (1) + Other receivables (0)

206
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Disclosure of transactions between related parties [Table] ..(11)

Unless otherwise specified, all monetary values are in Millions of INR
Categories of related parties [Axis] Other related parties [Member]
Related party [Axis] 23 24
01/04/2024 01/04/2023 01/04/2024 01/04/2023
to to to to
31/03/2025 31/03/2024 31/03/2025 31/03/2024
Disclosure of transactions between
related parties
[Abstract]
Disclosure of transactions
between related
parties [Line items]
Flipkart Internet Private Flipkart Internet Private Flipkart Advanz Private Flipkart Advanz Private
Name of related party Limited Limited Limited Limited
Country of incorporation or
residence of INDIA INDIA INDIA INDIA
related party
CIN of related party U51109KA2012PTC066107 U51109KA2012PTC066107 U74110KA2015FTC111824 U74110KA2015FTC111824
Description of nature of Intercorporate loan taken Intercorporate loan taken
Other expenses, Payment Other expenses, Payment
and repaid, Other Expenses, and repaid, Other Expenses,
transactions with Interest on loan, Sublease Interest on loan, Sublease
gateway charges, Income gateway charges, Income
related party from advertisement services from advertisement services
revenue revenue
Description of nature of related
party Fellow Subsidiary company Fellow Subsidiary company Fellow Subsidiary company Fellow Subsidiary company
relationship
Related party transactions
[Abstract]
Purchases of goods related
0 0 0 0
party transactions
Other related party
(A) 732 (B) 888 (C) 362 (D) 393
transactions expense
Other related party
(E) 21 (F) 27 (G) 6 (H) 1
transactions income
Other related party
transactions (I) 25,571 (J) 29,134
contribution made
Other related party
transactions (K) 29,259 (L) 27,265
contribution received
Outstanding balances for
related party
transactions [Abstract]
Amounts payable related
(M) 5,025 (N) 1,410 37 71
party transactions
Amounts receivable related
(O) 115 (P) 486 (Q) 723 (R) 595
party transactions
Expense recognised during
period for bad
and doubtful debts for related 0 0 0 0
party
transaction

207
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Footnotes
(A)

Other expenses (15) + Salaries, wages and bonus cross charge income (383) + Interest on loan* (327) + Other expenses (8)

*Loan given to related party is an unsecured loan and is repayable on demand. The interest rate is fixed at 8% p.a.

(B)

Other expenses (159) + Salaries, wages and bonus cross charge income (459) + Interest on loan* (264) + Other expenses (6)

*Loan given to related party is an unsecured loan and is repayable on demand. The interest rate is fixed at 8% p.a.

(C)

Other expenses (348) + Payment gateway charges (14)

(D)

Other expenses (324) + Payment gateway charges (69)

(E)

Sublease revenue (21) + Other operating revenue (0)

(F)

Sublease revenue (21) + Other operating revenue (6)

(G)

Other operating revenue (6)

(H)

Other operating revenue (1)

(I)

Intercorporate loan repaid (25571)

(J)

Intercorporate loan repaid (29134)

(K)

Intercorporate loan taken (29259)

(L)

Intercorporate loan taken (27265)

(M)

Trade payables (646)+Loan outstanding* (4053) + Interest accrued and not due on borrowing (326)

(N)

Trade payables (978)+Loan outstanding* (365) + Interest accrued and not due on borrowing (67)

(O)

Other receivables (44) + Trade receivables (56) + Other current assets (15)

(P)

Other receivables (154) + Trade receivables (331)+Other current assets (0)

208
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

(Q)

Other receivables (274) + Trade receivables (449)

(R)

Other receivables (3) + Trade receivables (592)

Disclosure of transactions between related parties [Table] ..(12)

Unless otherwise specified, all monetary values are in Millions of INR
Categories of related parties [Axis] Other related parties [Member]
Related party [Axis] 25 26
01/04/2024 01/04/2023 01/04/2024 01/04/2023
to to to to
31/03/2025 31/03/2024 31/03/2025 31/03/2024
Disclosure of transactions between
related parties
[Abstract]
Disclosure of transactions
between related
parties [Line items]
Brand Studio Lifestyle Brand Studio Lifestyle Yuvdhi Apparels Private Yuvdhi Apparels Private
Name of related party Private Limited Private Limited Limited Limited
Country of incorporation or
residence of INDIA INDIA INDIA INDIA
related party
CIN of related party U17290KA2014PTC077711 U17290KA2014PTC077711 U51909MP2017PTC043251 U51909MP2017PTC043251
Description of nature of
transactions with Trade Receivable Trade Receivable Other operating revenue Other operating revenue
related party
Description of nature of related
party Other Other Other Other
relationship
Related party transactions
[Abstract]
Purchases of goods related
0 0 0 0
party transactions
Other related party
0 0 0 0
transactions income
Outstanding balances for
related party
transactions [Abstract]
Amounts payable related
0 0 0 0
party transactions
Amounts receivable related
60 60 0 0
party transactions
Expense recognised during
period for bad
and doubtful debts for related 0 0 0 0
party
transaction

Unless otherwise specified, all monetary values are in Millions of INR

01/04/2024 01/04/2023
to to
31/03/2025 31/03/2024
Textual information (26)
Disclosure of related party [TextBlock] [See below]
Whether there are any related party transactions during year Yes Yes
Disclosure of transactions between related parties [TextBlock]
Whether entity applies exemption in Ind AS 24.25 No No
Whether company is subsidiary company Yes Yes
Section under which company is subsidiary Section 2(87)(ii) Section 2(87)(ii)

209
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Textual information (26)

Disclosure of related party [Text Block]

Names of related parties and related party
relationship

(a) Related parties where control exists

Ultimate holding company Walmart Inc., USA

Intermediate holding company Flipkart Private Limited, Singapore
Holding company FK Myntra Holdings Private Limited, Singapore

(b) Related parties under Ind AS 24 with whom

transactions have taken place during the year
Holding company : FK Myntra Holdings Private Limited, Singapore
Intermediate holding company : Flipkart Private Limited, Singapore
Fellow subsidiaries : Flipkart Internet Private Limited ("Flipkart Internet")
: Instakart Services Private Limited ("Instakart")
: Flipkart India Private Limited ("Flipkart India")
Jade E-services Private Limited ("Jade") including Novarris Trading
:
Fashions Private Limited
: Myntra Jabong India Private Limited ("Myntra Jabong India")
PhonePe Private Limited (now known as PhonePe Limited)
:
("PhonePe")
: Exmyn Brands Private Limited ("Exmyn")
: Flipkart Advanz Private Limited ("FAPL")
: F1 Info Solutions & Services Private Limited ("F1")
: Cleartrip India Private Limited
: Cleartrip Packages & Tours Private Limited ("CTPT")
: ANS Digital Private Limited ("ANS")
: Scapic Innovations Private Limited

Wrogn Private Limited (formerly Universal Sportsbiz Private Limited)

Associate company :
- Percentage holding 2.53% (March 31, 2024: 3.33%)

Associate of fellow subsidiaries : Brand Studio Lifestyle Private Limited ("Brand Studio")
: Yuvdhi Apparel Private Limited ("Yuvdhi")
: Kalyr Retail Private Limited ("Kalyr")
: Fonte Fashions India Private Limited ("Fonte")
: GOAT Brand Labs Private Limited
: LogisticsNow Private Limited
: Arvind Youth Brands Private Limited

Akshat Kedia - Additional Director (appointed w.e.f. February 17,

Key managerial personnel :
2025)
Padmakumar Jogendra Pal - Director (resigned w.e.f. March 28,
:
2024)
: Sachin Takkar- Director (appointed w.e.f. September 20, 2023)
Santosh Kevlani - Whole time director (resigned [Link]
:
18,2025)
: Ira Shukla - Company Secretary (appointed w.e.f. April 24, 2024)

210
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

[611700] Notes - Other provisions, contingent liabilities and contingent assets

Disclosure of contingent liabilities [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Contingent liability for guarantees
Classes of contingent liabilities [Axis] Other contingent liabilities [Member]
[Member]
01/04/2024 01/04/2023 01/04/2024 01/04/2023
to to to to
31/03/2025 31/03/2024 31/03/2025 31/03/2024
Disclosure of contingent liabilities [Abstract]
Disclosure of contingent liabilities [Line items]
Estimated amount
Estimated amount of
of contracts (net of
contracts (net of
advances)
Description of nature of obligation, contingent advances) remaining
Bank guarantees Bank guarantees remaining to be
liabilities to be executed on
executed on capital
capital account and
account and not
not provided for
provided for
Estimated financial effect of contingent
49 49 1,409 674
liabilities

Disclosure of contingent liabilities [Table] ..(2)

Unless otherwise specified, all monetary values are in Millions of INR
Contingent liability on other disputed Other contingent liabilities, others
Classes of contingent liabilities [Axis]
tax liabilities [Member] [Member]
01/04/2024 01/04/2023 01/04/2024 01/04/2023
to to to to
31/03/2025 31/03/2024 31/03/2025 31/03/2024
Disclosure of contingent liabilities [Abstract]
Disclosure of contingent liabilities [Line items]
Estimated amount
Estimated amount of
Claims and of contracts (net of
Claims and litigations contracts (net of
litigations against advances)
Description of nature of obligation, contingent against the Company advances) remaining
the Company not remaining to be
liabilities not acknowledged as to be executed on
acknowledged as executed on capital
debt capital account and
debt account and not
not provided for
provided for
Estimated financial effect of contingent
1,397 665 12 9
liabilities

Unless otherwise specified, all monetary values are in Millions of INR

01/04/2024 01/04/2023
to to
31/03/2025 31/03/2024
Disclosure of other provisions, contingent liabilities and contingent assets
[TextBlock]
Disclosure of other provisions [TextBlock]
Disclosure of contingent liabilities [TextBlock]
Whether there are any contingent liabilities Yes Yes
Estimated amount of Estimated amount of
contracts (net of contracts (net of
advances) remaining to advances) remaining to
Description of other contingent liabilities others be executed on capital be executed on capital
account and not provided account and not provided
for for

[610500] Notes - Events after reporting period

Unless otherwise specified, all monetary values are in Millions of INR
01/04/2024 01/04/2023
to to
31/03/2025 31/03/2024
Disclosure of events after reporting period [TextBlock]
Disclosure of non-adjusting events after reporting period [TextBlock]
Whether there are non adjusting events after reporting period No No

211
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

[612500] Notes - Share-based payment arrangements

Disclosure of terms and conditions of share-based payment arrangement [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Types of share-based payment arrangements [Axis] 1
01/04/2024 01/04/2023
to to
31/03/2025 31/03/2024
Disclosure of terms and conditions of share-based payment arrangement [Abstract]
Disclosure of terms and conditions of share-based payment arrangement [Line items]
Textual information Textual information
Description of share-based payment arrangement (27) [See below] (28) [See below]

Unless otherwise specified, all monetary values are in Millions of INR

01/04/2024 01/04/2023
to to 31/03/2023
31/03/2025 31/03/2024
Textual information (29)
Disclosure of share-based payment arrangements [TextBlock] [See below]
Whether there are any share based payment arrangement Yes Yes
Disclosure of terms and conditions of share-based payment arrangement
[TextBlock]
Disclosure of terms and conditions of share-based payment arrangement
[Abstract]
Disclosure of number and weighted average exercise prices of share options
[TextBlock]
Number of share options outstanding in share based payment arrangement
[Abstract]

Number of share options granted in share-based payment arrangement (A) [pure] (B) [pure]
3,54,703 3,84,993
Number of share options forfeited in share-based payment arrangement [pure] -90,582 [pure] -62,857
Number of share options exercised in share-based payment arrangement [pure] 0 [pure] 0
Total changes of number of share options outstanding in share based
[pure] 2,64,121 [pure] 3,22,136
payment arrangement
Number of share options outstanding in share-based payment
[pure] 22,24,371 [pure] 19,60,250 [pure] 16,38,114
arrangement at end of period
Weighted average exercise price of share options outstanding in
0 0 0
share-based payment arrangement at end of period
Disclosure of number and weighted average exercise prices of other equity
instruments [TextBlock]
Number of other equity instruments outstanding in share based payment
arrangement [Abstract]
Number of other equity instruments granted in share-based payment
[pure] 0 [pure] 0
arrangement
Total changes of number of other equity instruments outstanding
[pure] 0 [pure] 0
in share-based payment arrangement
Number of other equity instruments outstanding in share-based
[pure] 0 [pure] 0
payment arrangement at end of period
Disclosure of indirect measurement of fair value of goods or
services received, other equity instruments granted during
period [TextBlock]
Number of other equity instruments granted in share-based payment
[pure] 0 [pure] 0
arrangement

Footnotes
(A)

On account of transfer of employees (74777) + Granted during the year (279926)

(B)

On account of transfer of employees (1953) + Granted during the year (383040)

212
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Textual information (27)

Description of share-based payment arrangement

All the Group’s employees, officers, directors, business partners, consultants and advisers or any other person as approved by the Board, are
eligible for being considered for the grant of stock options under Flipkart Stock Option Plan 2012 (‘FSOP 2012’) and other plans
administered by the Group. The stock options granted under FSOP 2012 are time-based stock options. Time-based stock options granted
under FSOP 2012 would vest between one day and not more than five years from the date of grant of such options. Vesting of options would
be subject to continued employment with the Group (in case of an employee) or provision of expertise (in case of a consultant) or continued
business partnership (in case of a business partner) or advisory services (in case of an advisor) to the Group or such other criteria determined
by the Board and thus the options would vest on passage of time. The specific vesting schedule and conditions subject to which vesting
would take place would be outlined in the document given to the option grantee at the time of grant of options. The exercise price of the
time-based share options is [Link] the year, the Group has recognised a cost of INR 2,745 (March 31, 2024: INR 3,242) cross charged
under FSOP Scheme and the same has been disclosed under employee benefits expense in the Consolidated Statement of Profit and Loss.

Textual information (28)

Description of share-based payment arrangement

All the Group’s employees, officers, directors, business partners, consultants and advisers or any other person as approved by the Board, are
eligible for being considered for the grant of stock options under Flipkart Stock Option Plan 2012 (‘FSOP 2012’) and other plans
administered by the Group. The stock options granted under FSOP 2012 are time-based stock options. Time-based stock options granted
under FSOP 2012 would vest between one day and not more than five years from the date of grant of such options. Vesting of options would
be subject to continued employment with the Group (in case of an employee) or provision of expertise (in case of a consultant) or continued
business partnership (in case of a business partner) or advisory services (in case of an advisor) to the Group or such other criteria determined
by the Board and thus the options would vest on passage of time. The specific vesting schedule and conditions subject to which vesting
would take place would be outlined in the document given to the option grantee at the time of grant of options. The exercise price of the
time-based share options is [Link] the year, the Group has recognised a cost of INR 2,745 (March 31, 2024: INR 3,242) cross charged
under FSOP Scheme and the same has been disclosed under employee benefits expense in the Consolidated Statement of Profit and Loss.

213
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Textual information (29)

Disclosure of share-based payment arrangements [Text Block]

28(a). Employee stock option plan
All the Group’s employees, officers, directors, business partners, consultants and advisers or any other person as approved
by the Board, are eligible for being considered for the grant of stock options under Flipkart Stock Option Plan 2012 (‘FSOP
2012’) and other plans administered by the Group. The stock options granted under FSOP 2012 are time-based stock
options.
Time-based stock options granted under FSOP 2012 would vest between one day and not more than five years from the
date of grant of such options. Vesting of options would be subject to continued employment with the Group (in case of an
employee) or provision of expertise (in case of a consultant) or continued business partnership (in case of a business
partner) or advisory services (in case of an advisor) to the Group or such other criteria determined by the Board and thus the
options would vest on passage of time. The specific vesting schedule and conditions subject to which vesting would take
place would be outlined in the document given to the option grantee at the time of grant of options. The exercise price of the
time-based share options is nil.
During the year, the Group has recognised a cost of INR 2,745 (March 31, 2024: INR 3,242) cross charged under FSOP
Scheme and the same has been disclosed under employee benefits expense in the Consolidated Statement of Profit and
Loss.

Movement of share options during the year

The following table illustrates the movement of the options during the financial year (numbers):

Time based
As at As at
Particulars
March 31, 2025 March 31, 2024
Outstanding at the beginning of the year 1960250 1638114
On account of transfer of employees* 74777 1953
Granted 279926 383040
Forfeited -90582 -62857
Outstanding at the end of the year 2224371 1960250

Vested at the end of the year 1721106 1432032

*Net charge on options held by the employees transferred to/from the group companies has been passed on/absorbed by the Company from
the date of transfer.

Fair value of share options granted

The fair value of share options granted by the Group that are classified as time-based options is estimated at the grant date using arm’s length
price of the share options as reduced by DLOM (Discount due to Lack of Marketability) computed using Finnerty model, taking into account
the terms and conditions upon which the share options were granted. The inputs used to measure fair values of options granted on the grant
date were as follows:

The following table lists the inputs to the option pricing models for the year ended

As at As at
Particulars
March 31, 2025 March 31, 2024
Dividend yield (% p.a) 0 0
Expected volatility (% p.a)* 35.8% - 41.9% 37.4% - 47.5%
Expected life of option (years) 1.35 years 1.35 years

*Expected volatility is based on median historical volatility of share prices of comparable companies for the expected life of options.

For time-based share options issued by Flipkart, the weighted average fair value of options granted during the year was USD 158.14 (March
31, 2024: USD 145.80). As at March 31, 2025, the weighted average contractual life of time-based options is 1.18 years (March 31, 2024:
1.25 years).

b. Employee Stock Appreciation Rights:

214
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

All the Group’s executives as approved by the Cleartrip Board, are eligible for being considered for the grant of stock appreciation rights
under "Clear trip Stock Appreciation Rights Plan 2022" (Clear trip SAR Plan).
All the Group’s executives as approved by the Flipkart Health Board, are eligible for being considered for the grant of stock appreciation
rights under "Flipkart Health Stock Appreciation Rights Plan 2022" (Flipkart Health SAR Plan).
The Stock Appreciation Rights implemented and granted during the year under Cleartrip SAR Plan and Flipkart Health SAR Plan would vest
between one day and not more than four years from the date of grant of such rights. Vesting of rights would be subject to continued
employment with the Group (in case of an employee) or such other criteria determined by the Board and thus the options would vest on
passage of time. The specific vesting schedule and conditions subject to which vesting would take place would be outlined in the document
given to the option grantee at the time of grant of SAR's. The exercise price of the time-based SAR's is Nil. SAR's have been accounted as
cash settled award in accordance with Ind AS 102- Share based payments.

Cleartrip SAR Flipkart Health SAR

Movement of Stock Appreciation Rights during the financial
Plan Plan
year (numbers):
as at as at
March 31, March 31, March 31,
March 31, 2024
2025 2025 2024
Outstanding as at the beginning of the year
- On account of transfer of employees within the group 500830 0 668 0
- Granted 29082 0 0 0
- Repurchased 0 0 0 0
- Unvested forfeited 0 0 0 0
Outstanding as at the end of the year 529912 0 668 0
Vested as at the year end 331937 425

Weighted average fair value of options granted as on reporting date and the total cost recognised during the year:

Flipkart Health SAR

Cleartrip SAR
Plan
Plan
as at
as at as at
March 31, March 31,
March 31, 2025 March 31, 2024
2025 2024
Weighted average fair value of the options as on reporting
20.49 0 0 0
date (Rs.)
Total cost recognised during the year 1.69

For SARs issued under “Flipkart Health SAR Plan”, the weighted average fair value of options granted during the year was INR 19,445
(March 31, 2024: Nil). During the year, the valuation of Flipkart Health Private Limited declined to zero. Accordingly, SAR liability has
been reinstated based on revised fair value.

Fair value of SAR's granted

The fair value of the SAR's granted under the Cleartrip SAR Plan and Flipkart Health SAR Plan is estimated at the grant date using arms’
length price of the SAR's as reduced by DLOM (Discount due to Lack of Marketability) computed using Finnerty model, taking into account
the terms and conditions upon which the SAR's were granted.

Cleartrip SAR Flipkart Health

Plan SAR Plan
as at as at
The following table lists the inputs to the SAR's pricing model March 31, March 31, March 31,
March 31, 2024
for the year ended: 2025 2025 2024

Dividend yield (% p.a) 0.10% 0 0 0

Expected volatility (% p.a)* 44.2%-52.6% 0 0 0
Expected life of option (years) 0.04 0 0 0

*Expected volatility is based on median historical volatility of share prices of comparable companies for the expected life of options.

215
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

[613000] Notes - Earnings per share

Unless otherwise specified, all monetary values are in Millions of INR
01/04/2024 01/04/2023
to to
31/03/2025 31/03/2024
Textual information (30)
Disclosure of earnings per share [TextBlock] [See below]
Basic earnings per share [Abstract]
Basic earnings (loss) per share from continuing operations [INR/shares] 83 [INR/shares] 5
Total basic earnings (loss) per share [INR/shares] 83 [INR/shares] 5
Diluted earnings per share [Abstract]
Diluted earnings (loss) per share from continuing operations [INR/shares] 55 [INR/shares] 3
Total diluted earnings (loss) per share [INR/shares] 55 [INR/shares] 3
Profit (loss), attributable to ordinary equity holders of parent entity
[Abstract]
Profit (loss), attributable to ordinary equity holders of parent entity 5,484 308
Profit (loss), attributable to ordinary equity holders of parent
5,484 308
entity including dilutive effects
Weighted average shares and adjusted weighted average shares [Abstract]
Weighted average number of ordinary shares outstanding [shares] 6,64,56,945 [shares] 6,41,12,386
Adjusted weighted average shares [shares] 10,04,24,261 [shares] 9,80,79,702

216
MYNTRA DESIGNS PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2024 to 31/03/2025

Textual information (30)

Disclosure of earnings per share [Text Block]

27. Earnings per share (EPS)
Basic earning per share:
Basic earnings per share is calculated by dividing the profit attributable to equity shareholders of the Group by the weighted
average number of ordinary shares outstanding during the year, excluding equity shares purchased by the Group, if any.

Diluted earning per share:

Diluted EPS amounts are calculated by dividing the profit attributable to owners of the Group by the weighted average
number of Equity shares outstanding during the year plus the weighted average number of Equity shares that would be
issued on conversion of all the dilutive potential Equity shares into Equity shares.

The following reflects the income and details of share data used in computation of basic and diluted EPS:

For the year ended For the year ended

March 31, 2025 March 31, 2024
Earning for calculation of basic EPS
Profit during the year attributable to owners of the parent 5,484 308
Profit for calculation of basic EPS 5,484 308

Earning for calculation of diluted EPS

Profit during the year attributable to owners of the parent 5,484 308
Profit for calculation of diluted EPS 5,484 308

Nos. Nos.
Weighted average number of equity shares (Nos.) including (DVRs) 66,456,945 64,112,386
Basic earning per share 83 5

Weighted average calculation of diluted EPS

Weighted average number of equity shares (Nos.) 66,456,945 64,112,386
Add: Convertible Preference Shares 33,967,316 33,967,316
Total Weighted average number of share 100,424,261 98,079,702
Diluted earning per share 55 3

[610900] Notes - First time adoption

Unless otherwise specified, all monetary values are in Millions of INR
01/04/2024 01/04/2023
to to
31/03/2025 31/03/2024
Disclosure of first-time adoption [TextBlock]
Whether company has adopted Ind AS first time No No

217