Page 210 - Arvind 2024

Notes to Standalone Financial Statements for the year ended 31st March, 2024 (Amount in Rs. Lac, unless stated otherwise)
assets. The lease contract includes extension and termination options and variable lease payments, which are further discussed below.
Set out below are the carrying amounts of right-of-use assets recognised and the movements during the year:
Particulars
March 31, 2024
March 31, 2023
As at 1 April
Additions ( Refer Note 3.2) Depreciation Expense ( Refer Note 3.2) As at 31 March
Set out below are the carrying amounts of lease liabilities and the movements during the year:
As at 1 April
Additions
Accretion of interest Payments
As at 31 March Current
Non-current
The maturity analysis of lease liabilities disclosed as below:
Maturity analysis of contractual undiscounted cashflows Less than one Year
One to Five Years
More than 5 Years
Total
- 82.14 8.21 73.92
- 82.14
8.21 (11.04) 79.31 3.66 75.65
3.66 25.41 50.24 79.31
73.92
318.81
53.75
338.98
Particulars
March 31, 2024
March 31, 2023
79.31
318.82
39.81
(67.53)
370.41
30.49
339.92
Particulars
March 31, 2024
March 31, 2023
30.49
251.34
88.59
370.41
The weighted average incremental borrowing rate of 10% has been applied to lease liabilities recognised in the balance sheet at the date of initial application.
The following are the amounts recognised in profit or loss:
Particulars
8.21 Interest expense on lease liabilities (Refer Note 24) 8.21 Expense relating to short-term leases (included in other expenses) - Total amount recognised in statement of profit or loss 16.42
The company had total cash outflows for leases of Rs. 67.53 Lac in 31 March 2024 (Rs. 11.04 Lac in 31 March 2023). The company had non-cash additions of right-of-use assets and lease liabilities of Rs. 318.81 Lac in 31 March 2023 (Rs.82.14 Lac in 31 March 2023).
The Company has incurred leasehold improvement cost of Rs. 66.83 Lac which will be amortised over the tenure of lease. ( Refer Note 3.1)
41 Events after the reporting period:
The board of directors have proposed dividend after the balance sheet date which are subject to approval by the shareholders at the annual general meeting. Refer Note 13 for details.
March 31, 2024
Depreciation expense of right-of-use assets (Refer Note 3.3)
53.75
March 31, 2023
39.81
1.02
94.58
208 | Arvind SmartSpaces Limited