Consolidated Financial Statements for Financial Year ending on 31 March, 2022

BLU-SMART MOBILITY PRIVATE LIMITED
Consolidated Financial Statements for period 01/04/2021 to 31/03/2022
[400100] Disclosure of general information about company

Unless otherwise specified, all monetary values are in Lakhs of INR
01/04/2021 01/04/2020
to to
31/03/2022 31/03/2021
BLU-SMART MOBILITY
Name of company PRIVATE LIMITED
Corporate identity number U74999GJ2018PTC104895
Permanent account number of entity AAHCG5257B
1 2 0 7 T O
1212,A2,PALLADIUM,NR.ORCHID
WOOD OPP. DIVYABHASKAR,
Address of registered office of company CORPORATE RD, MAKARBA
AHMEDABAD Ahmedabad GJ
380015 IN
Commercial and
Type of industry Industrial
Company limited by shares
Category/sub-category of company / non-government
Whether company is listed company No
Date of start of reporting period 01/04/2021 01/04/2020
Date of end of reporting period 31/03/2022 31/03/2021
Nature of report standalone consolidated Consolidated
Content of report Financial Statements
Description of presentation currency INR
Level of rounding used in financial statements Lakhs
Type of cash flow statement Indirect Method
[400200] Disclosures - Auditors report
Details regarding auditors [Table] ..(1)

Auditors [Axis] 1
01/04/2021
to
31/03/2022
Details regarding auditors [Abstract]
Details regarding auditors [LineItems]
Category of auditor Auditors firm
S S KOTHARI
Name of audit firm MEHTA &
COMPANY
Name of auditor signing report AMIT GOEL
Firms registration number of audit firm 000756N
Membership number of auditor 500607
Plot No. 68, Okhla
Address of auditors Industrial Area,
New Dehli 110020
Permanent account number of auditor or auditor's firm AABFS6730L
SRN of form ADT-1 R33876913
Date of signing audit report by auditors 24/08/2022
Date of signing of balance sheet by auditors 24/08/2022

01/04/2021
to
31/03/2022
Textual information (1)
Disclosure in auditor’s report explanatory [TextBlock] [See below]
Whether companies auditors report order is applicable on company No
Whether auditors' report has been qualified or has any reservations or
No
contains adverse remarks
BLU-SMART MOBILITY PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2021 to 31/03/2022
Disclosure in auditor’s report explanatory [Text Block]

Independent Auditors’ Report
To the Members of Blu-Smart Mobility Private Limited
Report on the audit of Consolidated financial statements
Opinion
We have audited the accompanying consolidated financial statements of Blu-Smart Mobility Private Limited (“the Company”), which
comprise the balance sheet as at March 31, 2022, the statement of profit and loss, and the cash flow statement for the year then ended, and a
summary of the significant accounting policies and other explanatory information (hereinafter referred to as “the consolidated financial
statements”).
In our opinion and to the best of our information and according to the explanations given to us, the aforesaid consolidated 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 state of affairs of the Company as at March 31,
2022, and its loss and its cash flows for the year ended on that date.
Basis for opinion
We conducted our audit of the consolidated financial statements in accordance with Standards on Auditing (SAs) specified under Section
143(10) of the Act. Our responsibilities under those Standards are further described in the Auditor’s Responsibilities for the Audit of the
Consolidated financial statements section of our report. We are independent of the Company in accordance with the Code of Ethics issued by
the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the consolidated
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 the consolidated financial statements.
Emphasis on Matters
We draw attention to Note 39 to the consolidated financial statements, which describes the uncertainties and the impact of Covid-19
pandemic on the Company's operations and results as assessed by the management. The impact of these uncertainties on the Company’s
operation is significantly dependent on future developments.
Our opinion is not modified in respect of this matter.
Information other than the Consolidated financial statements and Auditor’s Report Thereon
The Company’s Board of Directors is responsible for the other information. The other information comprises the information included in the
Annual Report but does not include the consolidated financial statements and our auditor’s report thereon. The Annual Report is expected to
be made available to us after the date of this Auditors’ Report. Our opinion on the consolidated 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 the consolidated financial statements, our responsibility is to read the other information and, in doing so,
consider whether the other information is materially inconsistent with the consolidated financial statements or our knowledge obtained in the
audit or otherwise appears to be materially misstated.
When we read Annual Report, if we conclude that there is a material misstatement therein, we are required to communicate the matter to
those charged with governance.
Management’s Responsibility for the Consolidated financial statements
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The Company’s Board of Directors is responsible for the matters stated in Section 134(5) of the Act with respect to the preparation of these
consolidated financial statements that give a true and fair view of the financial position, financial performance and cash flows of the
Company in accordance with the accounting principles generally accepted in India, including the Accounting Standards specified under
Section 133 of the Act, read with relevant Rules issued thereunder.
This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding
of the assets of the Company and 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 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 the consolidated financial statements that give a true and fair view and are free from material
misstatement, whether due to fraud or error.
In preparing the consolidated financial statements, management is responsible for assessing the Company’s ability 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 Company or to cease operations, or has no realistic alternative but to do so.
Those Board of Directors are also responsible for overseeing the Company’s financial reporting process.
Auditor’s Responsibilities for the audit of the Consolidated financial statements
Our objectives are to obtain reasonable assurance about whether the consolidated 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 the Standards on Auditing 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 financial statements.
As part of an audit in accordance with Standards on Auditing, we exercise professional judgment and maintain professional skepticism
throughout the audit. We also:
• Identify and assess the risks of material misstatement of the consolidated 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 financial control 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 Company has adequate
internal financial controls system 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 Company’s ability 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 the consolidated 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 Company to cease
to continue as a going concern.
• Evaluate the overall presentation, structure and content of the consolidated financial statements, including the disclosures, and whether the
consolidated financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
We communicate with those charged with governance 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.
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.
Report on Other Legal and Regulatory Requirements
1. As required by Section 143(3) of the Act, we report that:
• We 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.
In our opinion, proper books of account as required by law have been kept by the Company so far as it appears from our examination of those
3
books;
The balance sheet, the statement of profit and loss and the cash flows statement dealt with by this Report are in agreement with the books of
account;
In our opinion, the aforesaid consolidated financial statements comply with the Accounting Standards specified under Section 133 of the Act,
read with relevant Rules issued thereunder;
On the basis of the written representations received from the directors as on March 31, 2022 taken on record by the Board of Directors, none
of the directors is disqualified as on March 31, 2022 from being appointed as a director in terms of Section 164 (2) of the Act;
With respect to the adequacy of the internal financial controls over financial reporting of the Company and the operating effectiveness of
such controls, refer to our separate Report in “Annexure A”. Our report expresses an unmodified opinion on the adequacy and operating
effectiveness of the Company’s internal financial controls over financial reporting.
In our opinion, and according to the information and explanations given to us, the provisions of section 197 read with Schedule V of the Act
are not applicable to the Company for the year ended March 31, 2022; and
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, in our opinion and to the best of our information and according to the explanations given to us:
• The Company does not have any pending litigations which would impact its financial position;
Company did not have any long-term contracts including derivative contracts for which there were any material foreseeable losses;
There is no amount required to be transferred to the Investor Education and Protection Fund by the Company.
(a) The Management has represented that, to the best of its knowledge and belief, no funds (which are material either individually or in the
aggregate) have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds) by
the Company to or in any other person or entity, including foreign entity (“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 Company (“Ultimate Beneficiaries”) or provide any guarantee, security or the like on behalf of the
Ultimate Beneficiaries
(b) The Management has represented, that, to the best of its knowledge and belief, no funds (which are material either individually or in the
aggregate) have been received by the Company from any person or entity, including foreign entity (“Funding Parties”), with the
understanding, whether recorded in writing or otherwise, that the Company 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;
(c) Based on the audit procedures that have been considered reasonable and appropriate in the circumstances, nothing has come to our notice
that has caused us to believe that the representations under sub-clause (i) and (ii) of Rule 11(e), as provided under (a) and (b) above, contain
any material misstatement
As stated in Note 3 to the consolidated financial statements
(a) No dividend has been declared or paid during the year by the Company
(b) No interim dividend has been declared or paid during the year and until the date of this report.
(c) The Board of Directors of the Company has not proposed any dividend for the year which is subject to the approval of the members at the
ensuing Annual General Meeting.
For S. S. KOTHARI MEHTA & COMPANY
Chartered Accountants
Firm’s Registration No. 000756N
AMIT GOEL
Partner
Membership No. 500607
Place: New Delhi
Date:
UDIN:
Annexure-A to the Independent Auditor’s Report to the Members of Blu-Smart Mobility Private Limited dated August 24, 2022 on its
4
consolidated financial statements.
(Referred to in paragraph 2(f) under ‘Report on Other Legal and Regulatory Requirements’ section of our report to the Members of
Blu-Smart Mobility Private Limited of even date)
Report on the Internal Financial Controls Over Financial Reporting under Clause (i) of sub-section 3 of Section 143 of the Companies Act,
2013 (the “Act”)
We have audited the internal financial controls over financial reporting of Blu-Smart Mobility Private Limited (the “Company”) as of March
31, 2022 in conjunction with our audit of the consolidated Ind AS financial statements of the Company for the year ended on that date.
Management’s Responsibility for Internal Financial Controls
The Management of the Company is responsible for establishing and maintaining internal financial controls based on the internal control
over financial reporting criteria established by the 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 (the
“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 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 Company’s internal financial controls over financial reporting of the Company 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”) issued by the ICAI and the Standards on Auditing prescribed under Section 143(10) of the Companies Act, 2013, to
the extent applicable to an audit of internal financial controls. 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 over financial
reporting 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 system over financial
reporting and their operating effectiveness. Our audit of internal financial controls over financial reporting included obtaining an
understanding of internal financial controls over financial reporting, 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 judgment, including the assessment of the risks of material misstatement of the 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 Company’s
internal financial controls system over financial reporting.
Meaning of Internal Financial Controls over Financial Reporting
A company’s internal financial control over financial reporting is a process designed to provide reasonable assurance regarding the reliability
of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting
principles. A company’s internal financial control over financial reporting 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 company;
(2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with
generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with
authorisations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection
of unauthorised acquisition, use, or disposition of the company’s assets that could have a material effect on the financial statements.
Inherent Limitations of Internal Financial Controls over Financial Reporting
Because of the inherent limitations of internal financial controls over financial reporting, 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 over financial reporting to future periods are subject to the risk that the internal financial control
over financial reporting 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, to the best of our information and according to the explanations given to us, the Company has, in all material respects, an
5
adequate internal financial controls system over financial reporting and such internal financial controls over financial reporting were
operating effectively as at March 31, 2022, based on the criteria for internal financial control over financial reporting established by the
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 ICAI.
For S. S. KOTHARI MEHTA & COMPANY
Chartered Accountants
Firm’s Registration No. 000756N
AMIT GOEL
Partner
Membership No. 500607
Place: New Delhi
Date: August 24, 2022
UDIN:
6
[100100] Balance sheet

31/03/2022 31/03/2021 31/03/2020
Balance sheet [Abstract]
Equity and liabilities [Abstract]
Shareholders' funds [Abstract]
Share capital 388.96 5,422.44 909.64
Reserves and surplus 14,121.33 -3,562.08
Total shareholders' funds 14,510.29 1,860.36
Share application money pending allotment 0 9.58
Minority interest 0 0
Non-current liabilities [Abstract]
Long-term borrowings 2,737.2 142.92
Other long-term liabilities 0 0
Long-term provisions 32.63 17.65
Total non-current liabilities 2,769.83 160.57
Current liabilities [Abstract]
Short-term borrowings 5,276.36 126.77
Trade payables (A) 467.04 (B) 247.54

Other current liabilities 969.18 500.66
Short-term provisions 0.06 0.03
Total current liabilities 6,712.64 875
Total equity and liabilities 23,992.76 2,905.51
Assets [Abstract]
Non-current assets [Abstract]
Fixed assets [Abstract]
Tangible assets 320.94 82.46 110.5
Intangible assets 523.06 236.04 65.61
Intangible assets under development or work-in-progress (C) 164.33 (D) 164.33

Total fixed assets 1,008.33 482.83
Non-current investments 0 0
Deferred tax assets (net) 13.75 10.51
Long-term loans and advances 34.4 0.79
Other non-current assets 9,369.23 847.44
Total non-current assets 10,425.71 1,341.57
Current assets [Abstract]
Current investments 0 0
Inventories 0 0
Trade receivables 6.74 1.85
Cash and bank balances 12,062.29 1,042.34
Short-term loans and advances 94.85 23.54
Other current assets 1,403.17 496.21
Total current assets 13,567.05 1,563.94
Total assets 23,992.76 2,905.51
Footnotes
(A) Trade payables (i) Total outstanding dues of micro enterprises and small enterprises 130.30 (ii) Total outstanding dues of
creditors other than micro enterprises and small enterprises 336.74
(B) Trade payables (i) Total outstanding dues of micro enterprises and small enterprises 62.22 (ii) Total outstanding dues of creditors
other than micro enterprises and small enterprises 185.32
(C) Goodwill on consolidation
(D) Goodwill on Consolidation
7
[100400] Cash flow statement, indirect

01/04/2021 01/04/2020
to to 31/03/2020
31/03/2022 31/03/2021
Statement of cash flows [Abstract]
Whether cash flow statement is applicable on company Yes Yes
Cash flows from used in operating activities [Abstract]
Profit before extraordinary items and tax -6,551.04 -3,951.48
Adjustments for reconcile profit (loss) [Abstract]
Adjustments to profit (loss) [Abstract]
Adjustments for finance costs 570.31 10.87
Adjustments for depreciation and amortisation expense 180.52 88.06
Other adjustments to reconcile profit (loss) -104.91 1,191.17
Other adjustments for non-cash items 22.48 22.11
Total adjustments to profit (loss) 668.4 1,312.21
Adjustments for working capital [Abstract]
Adjustments for decrease (increase) in trade receivables -4.89 3.11
Adjustments for decrease (increase) in other current assets -906.96 -1,135.27
Adjustments for increase (decrease) in trade payables 219.5 -132.99
Adjustments for increase (decrease) in other current liabilities 517.64 320.44
Total adjustments for working capital -174.71 -944.71
Total adjustments for reconcile profit (loss) 493.69 367.5
Net cash flows from (used in) operations -6,057.35 -3,583.98
Interest received -265.46 -10.1
Income taxes paid (refund) 0 0
Net cash flows from (used in) operating activities before extraordinary
-6,322.81 -3,594.08
items
Net cash flows from (used in) operating activities -6,322.81 -3,594.08
Cash flows from used in investing activities [Abstract]
Purchase of tangible assets 706.03 230.45
Interest received 265.46 10.1
Net cash flows from (used in) investing activities before extraordinary
-440.57 -220.35
items
Net cash flows from (used in) investing activities -440.57 -220.35
Cash flows from used in financing activities [Abstract]
Proceeds from issuing shares 19,165.68 4,525.12
Proceeds from borrowings (A) 9,075

126.77
Repayments of borrowings (B) 1,365.26

(C) 0
Interest paid 570.31 10.87

Other inflows (outflows) of cash -8,521.78 0
Net cash flows from (used in) financing activities before extraordinary
17,783.33 4,641.02
items
Net cash flows from (used in) financing activities 17,783.33 4,641.02
Net increase (decrease) in cash and cash equivalents before effect of
11,019.95 826.59
exchange rate changes
Net increase (decrease) in cash and cash equivalents 11,019.95 826.59
Cash and cash equivalents cash flow statement at end of period 12,062.29 1,042.34 215.75
Footnotes
(A) Proceed from long term borrowings 2737.20 Repayment of long term borrowings 0.00 Proceed from short term borrowings
6337.80
(B) Repayment of short term borrowings
(C) Repayment of short term borrowings
8
[200100] Notes - Share capital
Disclosure of shareholding more than five per cent in company [Table] ..(1)
Classes of share capital [Axis] Equity shares 1 [Member]
Name of shareholder [Axis] Shareholder 1 [Member] Shareholder 2 [Member]
01/04/2021 01/04/2020 01/04/2021 01/04/2020
to to to to
31/03/2022 31/03/2021 31/03/2022 31/03/2021
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 Equity Equity Equity
Name of shareholder Puneet Singh Jaggi Puneet Singh Jaggi Punit Goyal Punit Goyal
PAN of shareholder AHRPJ5583B AHRPJ5583B AIFPG9966J AIFPG9966J
Country of incorporation or residence of
INDIA INDIA INDIA INDIA
shareholder
Number of shares held in company [shares] 3,57,351 [shares] 3,57,351 [shares] 1,95,122 [shares] 1,95,122
Percentage of shareholding in company 16.66% 23.80% 9.10% 12.99%
Classes of share capital [Axis] Equity shares 1 [Member] Preference shares 1 [Member]
01/04/2021 01/04/2020 01/04/2021 01/04/2020
to to to to
31/03/2022 31/03/2021 31/03/2022 31/03/2021
company [Abstract]
Type of share Equity Equity Preference Preference
Mayfield India II,
Name of shareholder Anmol Singh Jaggi Anmol Singh Jaggi
Ltd
Mayfield India II, Ltd
PAN of shareholder AGNPJ4504B AGNPJ4504B

Country of incorporation or residence of
INDIA INDIA UNITED STATES UNITED STATES
shareholder
Number of shares held in company [shares] 3,73,522 [shares] 3,95,122 [shares] 1,34,607 [shares] 0
Classes of share capital [Axis] Preference shares 1 [Member]
01/04/2021 01/04/2020 01/04/2021 01/04/2020
to to to to
31/03/2022 31/03/2021 31/03/2022 31/03/2021
company [Abstract]
Type of share Preference Preference Preference Preference
Moonstone Moonstone
BP Technology BP Technology
Name of shareholder Ventures Limited Ventures Limited
Management Management
Services Trust 1 Services Trust 1
PAN of shareholder AAGTM9650G AAGTM9650G
Country of incorporation or residence of UNITED
UNITED KINGDOM INDIA INDIA
shareholder KINGDOM
Number of shares held in company [shares] 8,74,950 [shares] 0 [shares] 0 [shares] 1,41,164
9
Disclosure of classes of share capital [Table] ..(1)

Equity shares
Classes of share capital [Axis] Share capital [Member]
[Member]
01/04/2021 01/04/2020 01/04/2021
to to 31/03/2020 to
31/03/2022 31/03/2021 31/03/2022
Disclosure of classes of share capital [Abstract]
Disclosure of classes of share capital [LineItems]
Number of shares authorised [shares] 80,17,105 [shares] 30,67,075 [shares] 42,72,500
Value of shares authorised 801.71 5,575 427.25
Number of shares issued [shares] 39,61,824 [shares] 27,87,656 [shares] 21,44,369
Value of shares issued 396.18 5,422.44 214.44
Number of shares subscribed and fully paid [shares] 38,82,281 [shares] 27,87,656 [shares] 21,44,369
Value of shares subscribed and fully paid 388.23 5,422.44 214.44
Number of shares subscribed but not fully paid [shares] 79,543 [shares] 0 [shares] 0
Value of shares subscribed but not fully paid 7.95 0 0
Total number of shares subscribed [shares] 39,61,824 [shares] 27,87,656 [shares] 21,44,369
Total value of shares subscribed 396.18 5,422.44 214.44
Value of shares paid-up [Abstract]
Number of shares paid-up [shares] 39,61,824 [shares] 27,87,656 [shares] 21,44,369
Value of shares called 396.18 5,422.44 214.44
Calls unpaid [Abstract]
Calls unpaid by directors and officers
[Abstract]
Calls unpaid by directors 0 0 0
Calls unpaid by officers 0 0
Total calls unpaid by directors and
0 0 0
officers
Calls unpaid by others 7.22 0
Total calls unpaid 7.22 0 0
Forfeited shares 0 0 0
Forfeited shares reissued 0 0 0
Value of shares paid-up 388.96 5,422.44 214.44
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] 14,01,737 [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
placement
Number of shares issued as preferential
allotment arising out of conversion of
period
Number of shares issued as other
preferential allotment
Number of shares allotted for
contracts without payment received [shares] 0 [shares] 0 [shares] 0
in cash
Number of shares issued under scheme of
amalgamation
Number of other issues of shares [shares] 24,67,301 [shares] 10,66,494 [shares] 6,42,632
Number of shares issued under employee
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] 24,67,301 [shares] 24,68,231 [shares] 6,42,632
during period
Decrease in number of shares during period
[Abstract]
Number of shares redeemed [shares] 12,93,133 [shares] 0
Number of shares bought back [shares] 0 [shares] 0 [shares] 0
10
Other decrease in number of shares [shares] 0 [shares] 0 [shares] 0

Total decrease in number of shares during
[shares] 12,93,133 [shares] 0 [shares] 0
period
Total increase (decrease) in number of
shares outstanding
Number of shares outstanding at end of period [shares] 39,61,824 [shares] 27,87,656 [shares] 3,19,425 [shares] 21,44,369
Reconciliation of value of shares outstanding
[Abstract]
Changes in share capital [Abstract]
Increase in 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 0 140.17 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
Amount of other preferential allotment
0 0 0
issue during period
Amount of issue allotted for
contracts without payment 0 0 0
received in cash during period
Amount of issue under scheme of
0 0 0
amalgamation during period
Amount of other issues during period 239.5 4,372.63 64.27
Amount of employee stock option plan
0 0 0
issued during period
Amount of other issue arising out of
conversion of securities during 0 0 0
period
Total aggregate amount of increase in
239.5 4,512.8 64.27
share capital during period
Decrease in share capital during period
[Abstract]
Decrease in amount of shares redeemed 5,272.98 0
Decrease in amount of shares bought back 0 0 0
Other decrease in amount of shares 0 0 0
Total decrease in share capital during
5,272.98 0 0
period
Total increase (decrease) in share capital -5,033.48 4,512.8 64.27
Share capital at end of period 388.96 5,422.44 909.64 214.44
Rights preferences and restrictions attaching
N/A N/A N/A
to class of share capital
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] 0 [shares] 0 [shares] 0
Shares in company held by ultimate holding
company
Shares in company held by subsidiaries of its
holding company
ultimate holding company
Shares in company held by associates of its
holding company
Total shares in company held by holding company
or ultimate holding company or by its [shares] 0 [shares] 0 [shares] 0
subsidiaries or associates
Shares reserved for issue under options
and contracts or commitments for sale of [shares] 0 [shares] 0 [shares] 0
shares or disinvestment
Aggregate number of fully paid-up shares issued
pursuant to contracts without payment being [shares] 0 [shares] 0 [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 [shares] 0 [shares] 0
five years
11
Aggregate number of shares bought back during

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
refund, interest accrued
Total application money received for
allotment of securities and due for refund 0 0 0
and interest accrued thereon
Terms and conditions of shares pending allotment N/A N/A N/A
Number of shares proposed to be issued [shares] 0 [shares] 0 [shares] 0
Share premium for shares to be allotted 0 0 0
12

Classes of share capital [Axis] Equity shares [Member] Equity shares 1 [Member]
01/04/2020 01/04/2021 01/04/2020
to 31/03/2020 to to
31/03/2021 31/03/2022 31/03/2021
Type of share Equity Equity
Number of shares authorised [shares] 17,50,000 [shares] 42,72,500 [shares] 17,50,000
Value of shares authorised 175 427.25 175
Number of shares issued [shares] 15,01,737 [shares] 21,44,369 [shares] 15,01,737
Value of shares issued 150.17 214.44 150.17
Number of shares subscribed and fully paid [shares] 15,01,737 [shares] 21,44,369 [shares] 15,01,737
Value of shares subscribed and fully paid 150.17 214.44 150.17
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] 15,01,737 [shares] 21,44,369 [shares] 15,01,737
Total value of shares subscribed 150.17 214.44 150.17
Number of shares paid-up [shares] 15,01,737 [shares] 21,44,369 [shares] 15,01,737
Value of shares called 150.17 214.44 150.17
[Abstract]
0 0 0
officers
Total calls unpaid 0 0 0
Value of shares paid-up 150.17 214.44 150.17
Par value per share [INR/shares] 10 [INR/shares] 10
Amount per share called in case shares not fully
[INR/shares] 0 [INR/shares] 0
called
[Abstract]
[Abstract]
[Abstract]
Number of shares issued as rights [shares] 14,01,737 [shares] 0 [shares] 14,01,737
period
placement
period
in cash
amalgamation
Number of other issues of shares [shares] 0 [shares] 6,42,632 [shares] 0
stock option plan
securities
during period
[Abstract]
13

period
shares outstanding
[Abstract]
[Abstract]
Amount of rights issue during period 140.17 0 140.17
0 0 0
during period
0 0 0
issue during period
0 0 0
Amount of other issues during period 0 64.27 0
0 0 0
period
140.17 64.27 140.17
[Abstract]
0 0 0
period
Total increase (decrease) in share capital 140.17 64.27 140.17
Share capital at end of period 150.17 10 214.44 150.17
Rights preferences and restrictions attaching Textual information Textual information
N/A
to class of share capital (2) [See below] (3) [See below]
company
holding company
holding company
five years
14

last five years
refund, principal
Terms and conditions of shares pending allotment N/A 0 0
15

Equity shares 1
Classes of share capital [Axis] Preference shares [Member]
[Member]
01/04/2021 01/04/2020
31/03/2020 to to 31/03/2020
31/03/2022 31/03/2021
Number of shares authorised [shares] 37,44,605 [shares] 13,17,075
Value of shares authorised 374.46 5,400
Number of shares issued [shares] 18,17,455 [shares] 12,85,919
Value of shares issued 181.74 5,272.27
Number of shares subscribed and fully paid [shares] 17,37,912 [shares] 12,85,919
Value of shares subscribed and fully paid 173.79 5,272.27
Number of shares subscribed but not fully paid [shares] 79,543 [shares] 0
Value of shares subscribed but not fully paid 7.95 0
Total number of shares subscribed [shares] 18,17,455 [shares] 12,85,919
Total value of shares subscribed 181.74 5,272.27
Number of shares paid-up [shares] 18,17,455 [shares] 12,85,919
Value of shares called 181.74 5,272.27
[Abstract]
Calls unpaid by directors 0 0
0 0
officers
Total calls unpaid 7.22 0
Forfeited shares 0 0
Forfeited shares reissued 0 0
Value of shares paid-up 174.52 5,272.27
[Abstract]
[Abstract]
[Abstract]
Number of shares issued in public offering [shares] 0 [shares] 0
Number of shares issued as bonus shares [shares] 0 [shares] 0
[shares] 0 [shares] 0
period
placement
period
contracts without payment received [shares] 0 [shares] 0
in cash
amalgamation
Number of other issues of shares [shares] 18,24,669 [shares] 10,66,494
stock option plan
arising out of conversion of [shares] 0 [shares] 0
securities
[shares] 18,24,669 [shares] 10,66,494
during period
[Abstract]
Number of shares redeemed [shares] 12,93,133 [shares] 0
Number of shares bought back [shares] 0 [shares] 0
Other decrease in number of shares [shares] 0 [shares] 0
16

[shares] 12,93,133 [shares] 0
period
[shares] 5,31,536 [shares] 10,66,494
shares outstanding
[Abstract]
[Abstract]
Amount of public issue during period 0 0
Amount of bonus issue during period 0 0
arising out of conversion of debentures 0 0
0 0
during period
0 0
issue during period
contracts without payment 0 0
0 0
Amount of other issues during period 175.23 4,372.63
0 0
conversion of securities during 0 0
period
175.23 4,372.63
[Abstract]
Decrease in amount of shares redeemed 5,272.98 0
Decrease in amount of shares bought back 0 0
Other decrease in amount of shares 0 0
5,272.98 0
period
Total increase (decrease) in share capital -5,097.75 4,372.63
Share capital at end of period 10 174.52 5,272.27 899.64
Rights preferences and restrictions attaching
N/A N/A
to class of share capital
Shares in company held by holding company [shares] 0 [shares] 0
company
holding company
holding company
or ultimate holding company or by its [shares] 0 [shares] 0
and contracts or commitments for sale of [shares] 0 [shares] 0
pursuant to contracts without payment being [shares] 0 [shares] 0
issued by way of bonus shares during last [shares] 0 [shares] 0
five years
last five years
17

allotment of securities and due for 0 0
refund, principal
allotment of securities and due for refund 0 0
Terms and conditions of shares pending allotment N/A N/A
Number of shares proposed to be issued [shares] 0 [shares] 0
Share premium for shares to be allotted 0 0
18

Preference shares
2 [Member]
01/04/2021 01/04/2020 01/04/2021
to to 31/03/2020 to
31/03/2022 31/03/2021 31/03/2022
0.01% non -
cumulative
0.01% non - cumulative 0.01% non - cumulative
Compulsorily
Compulsorily convertible Compulsorily convertible
Type of share preference share of Rs. preference share of Rs.
convertible
preference shares
410/- each 410/- each
of Rs. 10/- each
fully paid up
Number of shares authorised [shares] 0 [shares] 13,17,075 [shares] 17,34,605
Value of shares authorised 0 5,400 173.46
Number of shares issued [shares] 0 [shares] 12,85,919 [shares] 17,28,967
Value of shares issued 0 5,272.27 172.9
Number of shares subscribed and fully paid [shares] 0 [shares] 12,85,919 [shares] 17,28,967
Value of shares subscribed and fully paid 0 5,272.27 172.9
Total number of shares subscribed [shares] 0 [shares] 12,85,919 [shares] 17,28,967
Total value of shares subscribed 0 5,272.27 172.9
Number of shares paid-up [shares] 0 [shares] 12,85,919 [shares] 17,28,967
Value of shares called 0 5,272.27 172.9
[Abstract]
Calls unpaid by officers 0
0 0 0
officers
Calls unpaid by others 0
Value of shares paid-up 0 5,272.27 172.9
Par value per share [INR/shares] 0 [INR/shares] 410 [INR/shares] 10
[INR/shares] 0 [INR/shares] 0 [INR/shares] 0
called
[Abstract]
[Abstract]
[Abstract]
period
placement
period
in cash
amalgamation
Number of other issues of shares [shares] 0 [shares] 10,66,494 [shares] 17,36,181
stock option plan
19

securities
[shares] 0 [shares] 10,66,494 [shares] 17,36,181
during period
[Abstract]
Number of shares redeemed [shares] 12,85,919 [shares] 0 [shares] 7,214
[shares] 12,85,919 [shares] 0 [shares] 7,214
period
[shares] -12,85,919 [shares] 10,66,494 [shares] 17,28,967
shares outstanding
[shares]
Number of shares outstanding at end of period [shares] 0 [shares] 12,85,919
2,19,425
[shares] 17,28,967

[Abstract]
[Abstract]
0 0 0
during period
0 0 0
issue during period
0 0 0
Amount of other issues during period 0 4,372.63 173.61
0 0 0
period
0 4,372.63 173.61
[Abstract]
Decrease in amount of shares redeemed 5,272.27 0 0.71
5,272.27 0 0.71
period
Total increase (decrease) in share capital -5,272.27 4,372.63 172.9
Share capital at end of period 0 5,272.27 899.64 172.9
Rights preferences and restrictions attaching Textual information (4) Textual information (5)
to class of share capital [See below] [See below]
company
holding company
holding company
20

five years
last five years
refund, principal
Terms and conditions of shares pending allotment 0 0 0
21

Classes of share capital [Axis] Preference shares 2 [Member] Preference shares 3 [Member]
01/04/2020 01/04/2021 01/04/2020
to 31/03/2020 to to
31/03/2021 31/03/2022 31/03/2021
0.01% non - 0.01% non -
cumulative cumulative
0.01% non - cumulative
Compulsorily Compulsorily
Compulsorily convertible
Type of share preference shares of Rs. 10/- each
convertible convertible
preference shares preference shares of
fully paid up
of Rs. 10/- each Rs. 10/- each fully
fully paid up paid up
Number of shares authorised [shares] 0 [shares] 10,00,000 [shares] 0
Value of shares authorised 0 100 0
Number of shares issued [shares] 0 [shares] 8,945 [shares] 0
Value of shares issued 0 0.89 0
Number of shares subscribed and fully paid [shares] 0 [shares] 8,945 [shares] 0
Value of shares subscribed and fully paid 0 0.89 0
Total number of shares subscribed [shares] 0 [shares] 8,945 [shares] 0
Total value of shares subscribed 0 0.89 0
Number of shares paid-up [shares] 0 [shares] 8,945 [shares] 0
Value of shares called 0 0.89 0
[Abstract]
Calls unpaid by officers 0 0 0
0 0 0
officers
Calls unpaid by others 0
Value of shares paid-up 0 0.89 0
Par value per share [INR/shares] 0 [INR/shares] 10 [INR/shares] 0
[INR/shares] 0 [INR/shares] 0 [INR/shares] 0
called
[Abstract]
[Abstract]
[Abstract]
period
placement
period
in cash
amalgamation
Number of other issues of shares [shares] 0 [shares] 8,945 [shares] 0
stock option plan
22

securities
[shares] 0 [shares] 8,945 [shares] 0
during period
[Abstract]
Number of shares redeemed [shares] 0 [shares] 0 [shares] 0
period
[shares] 0 [shares] 8,945 [shares] 0
shares outstanding
Number of shares outstanding at end of period [shares] 0 [shares] 0 [shares] 8,945 [shares] 0
[Abstract]
[Abstract]
0 0 0
during period
0 0 0
issue during period
0 0 0
Amount of other issues during period 0 0.89 0
0 0 0
period
0 0.89 0
[Abstract]
Decrease in amount of shares redeemed 0 0 0
0 0 0
period
Total increase (decrease) in share capital 0 0.89 0
Share capital at end of period 0 0 0.89 0
company
holding company
holding company
23

five years
last five years
refund, principal
Terms and conditions of shares pending allotment 0
24

Preference shares
3 [Member]
01/04/2021 01/04/2020
31/03/2020 to to 31/03/2020
31/03/2022 31/03/2021
0.01% non - cumulative 0.01% non - cumulative
Compulsorily convertible Compulsorily convertible
Type of share preference shares of Rs. preference shares of Rs. 10/-
10/- each fully paid up each fully paid up
Number of shares authorised [shares] 66,817 [shares] 0
Value of shares authorised 6.68 0
Number of shares issued [shares] 66,817 [shares] 0
Value of shares issued 6.68 0
Number of shares subscribed and fully paid [shares] 0 [shares] 0
Value of shares subscribed and fully paid 0 0
Total number of shares subscribed [shares] 66,817 [shares] 0
Total value of shares subscribed 6.68 0
Number of shares paid-up [shares] 66,817 [shares] 0
Value of shares called 6.68 0
[Abstract]
0 0
officers
Value of shares paid-up 0.67 0
called
[Abstract]
[Abstract]
[Abstract]
period
placement
period
contracts without payment received [shares] 0 [shares] 0
in cash
amalgamation
Number of other issues of shares [shares] 66,817 [shares] 0
stock option plan
arising out of conversion of [shares] 0 [shares] 0
securities
25

[shares] 66,817 [shares] 0
during period
[Abstract]
Number of shares redeemed [shares] 0 [shares] 0
period
[shares] 66,817 [shares] 0
shares outstanding
Number of shares outstanding at end of period [shares] 0 [shares] 66,817 [shares] 0 [shares] 0
[Abstract]
[Abstract]
0 0
during period
0 0
issue during period
contracts without payment 0 0
0 0
Amount of other issues during period 0.67 0
0 0
conversion of securities during 0 0
period
0.67 0
[Abstract]
Decrease in amount of shares redeemed 0 0
0 0
period
Total increase (decrease) in share capital 0.67 0
Share capital at end of period 0 0.67 0 0
company
holding company
holding company
or ultimate holding company or by its [shares] 0 [shares] 0
and contracts or commitments for sale of [shares] 0 [shares] 0
pursuant to contracts without payment being [shares] 0 [shares] 0
26

issued by way of bonus shares during last [shares] 0 [shares] 0
five years
last five years
refund, principal
allotment of securities and due for refund 0 0
27

01/04/2021 01/04/2020
to to 31/03/2020
31/03/2022 31/03/2021
12,726 (PY:Nil) 0.01% non 12,726 (PY:Nil) 0.01% non
- cumulative Compulsorily - cumulative Compulsorily
Type of share convertible preference convertible preference
shares of Rs. 10/- each paid shares of Rs. 10/- each paid
up of Rs. 0.50 each up of Rs. 0.50 each
Number of shares authorised [shares] 9,43,183 [shares] 0
Value of shares authorised 94.32 0
Number of shares issued [shares] 12,726 [shares] 0
Value of shares issued 1.27 0
Number of shares subscribed and fully paid [shares] 0 [shares] 0
Value of shares subscribed and fully paid 0 0
Total number of shares subscribed [shares] 12,726 [shares] 0
Total value of shares subscribed 1.27 0
Number of shares paid-up [shares] 12,726 [shares] 0
Value of shares called 1.27 0
Calls unpaid by directors and officers [Abstract]
Total calls unpaid by directors and officers 0 0
Value of shares paid-up 0.06 0
Amount per share called in case shares not fully called [INR/shares] 0.5 [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 private placement
arising out of conversion of debentures [shares] 0 [shares] 0
Number of shares issued in other private placement [shares] 0 [shares] 0
Number of shares issued as preferential allotment
arising out of conversion of debentures [shares] 0 [shares] 0
Number of shares issued as other preferential allotment [shares] 0 [shares] 0
Number of shares allotted for contracts without payment
received in cash
Number of shares issued under scheme of amalgamation [shares] 0 [shares] 0
Number of other issues of shares [shares] 12,726 [shares] 0
Number of shares issued under employee stock option plan [shares] 0 [shares] 0
Number of other issue of shares arising out of conversion
of securities
Total aggregate number of shares issued during period [shares] 12,726 [shares] 0
Decrease in number of shares during period [Abstract]
Number of shares redeemed [shares] 0 [shares] 0
Total decrease in number of shares during period [shares] 0 [shares] 0
Total increase (decrease) in number of shares outstanding [shares] 12,726 [shares] 0
Number of shares outstanding at end of period [shares] 12,726 [shares] 0 [shares] 0
Reconciliation of value of shares outstanding [Abstract]
Increase in share capital during period [Abstract]
28

Amount of private placement issue arising out of
conversion of debentures preference shares during 0 0
period
Amount of other private placement issue during period 0 0
Amount of preferential allotment issue arising out
of conversion of debentures preference shares 0 0
during period
Amount of other preferential allotment issue during period 0 0
Amount of issue allotted for contracts without payment
0 0
Amount of issue under scheme of amalgamation during period 0 0
Amount of other issues during period 0.06 0
Amount of employee stock option plan issued during period 0 0
Amount of other issue arising out of conversion of
0 0
securities during period
Total aggregate amount of increase in share capital during
0.06 0
period
Decrease in share capital during period [Abstract]
Decrease in amount of shares redeemed 0 0
Total decrease in share capital during period 0 0
Total increase (decrease) in share capital 0.06 0
Share capital at end of period 0.06 0 0
Rights preferences and restrictions attaching to class of share
0 0
capital
Shares in company held by holding company or ultimate
holding company or by its subsidiaries or associates
[Abstract]
Shares in company held by ultimate holding company [shares] 0 [shares] 0
Shares in company held by subsidiaries of its holding company [shares] 0 [shares] 0
Shares in company held by subsidiaries of its ultimate holding
company
Shares in company held by associates of its holding company [shares] 0 [shares] 0
Shares in company held by associates of its ultimate holding
company
Total shares in company held by holding company or
ultimate holding company or by its subsidiaries or [shares] 0 [shares] 0
associates
Shares reserved for issue under options and contracts or
commitments for sale of shares or disinvestment
Aggregate number of fully paid-up shares issued pursuant
to contracts without payment being received in cash [shares] 0 [shares] 0
during last five years
Aggregate number of fully paid-up shares issued by way of bonus
shares during last five years
Aggregate number of shares bought back during last five years [shares] 0 [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
0 0
due for refund, principal
Application money received for allotment of securities
0 0
and due for refund, interest accrued
Total application money received for allotment of
securities and due for refund and interest accrued 0 0
thereon
29

01/04/2021 01/04/2020
to to
31/03/2022 31/03/2021
Disclosure of notes on share capital explanatory [TextBlock]
Whether there are any shareholders holding more than five per cent
Yes Yes
shares in company
Number of persons on private placement of equity share [pure] 0
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
Rights preferences and restrictions attaching to class of share capital

The Company has only one class of equity shares having par value of Rs. 10 per share. Each holder of equity shares is entitled to vote per
share. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company, after distribution of all
preferential amounts, in proportion of their shareholding.



30
[200200] Notes - Reserves and surplus
Statement of changes in reserves [Table] ..(1)

Securities
Components of reserves [Axis] Reserves [Member] premium account
[Member]
01/04/2021 01/04/2020 01/04/2021
to to 31/03/2020 to
31/03/2022 31/03/2021 31/03/2022
Statement of changes in reserves [Abstract]
Statement of changes in reserves [LineItems]
Changes in reserves [Abstract]
Additions to reserves [Abstract]
Profit (loss) for period -6,547.81 -3,945.6 0
Other additions to reserves 24,231.22 165.03 24,180.69
Total additions to reserves 17,683.41 -3,780.57 24,180.69
Appropriations for dividend, dividend tax and
general reserve [Abstract]
Dividend appropriation [Abstract]
Interim dividend appropriation [Abstract]
Interim equity dividend appropriation 0 0
Total interim dividend appropriation 0 0
Total dividend appropriation 0 0
Dividend tax appropriation [Abstract]
Equity dividend tax appropriation 0 0
Total dividend tax appropriation 0 0
Other appropriations 0 0 0
Transfer to general reserve 0 0 0
Total appropriations for dividend,
0 0 0
dividend tax and general reserve
Appropriation towards bonus shares 0 0 0
Total changes in reserves 17,683.41 -3,780.57 24,180.69
Reserves at end of period 14,121.33 -3,562.08 218.49 26,187.64

Employee stock options outstanding
Components of reserves [Axis] Securities premium account [Member]
[Member]
01/04/2020 01/04/2021 01/04/2020
to 31/03/2020 to to
31/03/2021 31/03/2022 31/03/2021
Profit (loss) for period 0 0 0
Other additions to reserves 0 50.53 165.03
Total additions to reserves 0 50.53 165.03
Other appropriations 0 0 0
Transfer to general reserve 0 0 0
0 0 0
Appropriation towards bonus shares 0 0 0
Total changes in reserves 0 50.53 165.03
Reserves at end of period 2,006.95 2,006.95 215.56 165.03
31

Employee stock
options
Components of reserves [Axis] Surplus [Member]
outstanding
[Member]
01/04/2021 01/04/2020
31/03/2020 to to 31/03/2020
31/03/2022 31/03/2021
Profit (loss) for period -6,547.81 -3,945.6
Other additions to reserves 0 0
Total additions to reserves -6,547.81 -3,945.6
Dividend appropriation [Abstract]
Interim dividend appropriation [Abstract]
Interim equity dividend appropriation 0 0
Total interim dividend appropriation 0 0
Total dividend appropriation 0 0
Dividend tax appropriation [Abstract]
Equity dividend tax appropriation 0 0
Total dividend tax appropriation 0 0
Other appropriations 0 0
Transfer to general reserve 0 0
0 0
Appropriation towards bonus shares 0 0
Total changes in reserves -6,547.81 -3,945.6
Reserves at end of period 0 -12,281.87 -5,734.06 -1,788.46
[200300] Notes - Borrowings
Classification of borrowings [Table] ..(1)

Classification based on time period [Axis] Long-term [Member]
Non-convertible debentures others
Classification of borrowings [Axis] Debentures [Member]
[Member]
Subclassification of borrowings [Axis] Secured borrowings [Member] Secured borrowings [Member]
01/04/2021 01/04/2020 01/04/2021 01/04/2020
to to to to
31/03/2022 31/03/2021 31/03/2022 31/03/2021
Borrowings notes [Abstract]
Details of borrowings [Abstract]
Details of borrowings [LineItems]
Borrowings 1,592.18 0 1,592.18 0
Nature of security [Abstract]
As per notes As per notes
Nature of security N/A N/A
disclosed disclosed
Details on defaults on borrowings [Abstract]
Outstanding amount of continuing default
0 0 0 0
principal
0 0 0 0
interest
32

Classification based on time period [Axis] Long-term [Member]
Rupee term loans from banks
Classification of borrowings [Axis] Term loans from banks [Member]
[Member]
01/04/2021 01/04/2020 01/04/2021 01/04/2020
to to to to
31/03/2022 31/03/2021 31/03/2022 31/03/2021
Borrowings 1,145.02 0 1,145.02 0
disclosed disclosed
0 0 0 0
principal
0 0 0 0
interest

Classification based on time period [Axis] Long-term [Member] Short-term [Member]
Classification of borrowings [Axis] Intercorporate borrowings [Member] Debentures [Member]
Subclassification of borrowings [Axis] Unsecured borrowings [Member] Secured borrowings [Member]
01/04/2021 01/04/2020
31/03/2022 31/03/2021 to to
31/03/2022 31/03/2021
Borrowings 0 142.92 2,642.42 0
0 0 0 0
principal
0 0 0 0
interest

Classification based on time period [Axis] Short-term [Member]
Non-convertible debentures others
Classification of borrowings [Axis] Term loans from banks [Member]
[Member]
01/04/2021 01/04/2020 01/04/2021 01/04/2020
to to to to
31/03/2022 31/03/2021 31/03/2022 31/03/2021
Borrowings 2,642.42 0 2,444.35 0
Nature of security disclosed disclosed
N/A N/A

0 0 0 0
principal
0 0 0 0
interest
33

Rupee term loans from banks
Classification of borrowings [Axis] Term loans from others [Member]
[Member]
Subclassification of borrowings [Axis] Secured borrowings [Member] Unsecured borrowings [Member]
01/04/2021 01/04/2020
to to 31/03/2022 31/03/2021
31/03/2022 31/03/2021
Borrowings 2,444.35 0 155.47 126.77
Nature of security disclosed disclosed
0 0 0 0
principal
0 0 0 0
interest

Rupee term loans from others
Classification of borrowings [Axis] Other loans and advances [Member]
[Member]
Subclassification of borrowings [Axis] Unsecured borrowings [Member] Unsecured borrowings [Member]
31/03/2022 31/03/2021 31/03/2022 31/03/2021
Borrowings 155.47 126.77 34.12 0
0 0 0 0
principal
0 0 0 0
interest

Other loans and advances, others
Classification of borrowings [Axis]
[Member]
Subclassification of borrowings [Axis] Unsecured borrowings [Member]
31/03/2022 31/03/2021
Borrowings 34.12 0
Outstanding amount of continuing default principal 0 0
Outstanding amount of continuing default interest 0 0
34
Details of bonds or debentures [Table] ..(1)

Details of bonds or debentures [Axis] 1 2
01/04/2021 01/04/2020 01/04/2021 01/04/2020
to to to to
31/03/2022 31/03/2021 31/03/2022 31/03/2021
Details of bonds or debentures [Abstract]
Details of bonds or debentures [LineItems]
Whether bonds or debentures Debenture Debenture Debenture Debenture
Nature of bond or debenture Non-convertible Non-convertible Non-convertible Non-convertible
Holder of bond or debenture Others Others Others Others
Rate of interest 14.50% 14.50% 14.50% 14.50%
Tranche 1: T r a n c h e 1:
8 quarterly 8 quarterly Amortized on Amortized on
amortization of amortization of monthly equated monthly equated
Particulars of redemption or conversion Rs.1,25,00,000 Rs.1,25,00,000 installment of Rs. installment of Rs.
starting form 15th starting form 15th feb 3409091 + Interest 3409091 + Interest
feb 22 22 starting from 1st starting from 1st
March, 2022. March, 2022.
Nominal value per bond or debenture [pure] 10 [pure] 10 [pure] 10 [pure] 10
Number of bonds or debentures [pure] 0 [pure] 0 [pure] 0 [pure] 0
Amount of bonds or debentures issued during
875 0 681.82 0
period
Number of allottees to whom bonds or
[pure] 1 [pure] 0 [pure] 1 [pure] 0
debentures were issued
Earliest date of redemption 15/02/2024 15/02/2024 01/03/2024 01/03/2024
Nominal amount of bonds or debentures held
by nominee or trustee of company
Book value of bonds or debentures held by
nominee or trustee of company
Details of bonds or debentures [Table] ..(2)

Details of bonds or debentures [Axis] 3 4
01/04/2021 01/04/2020 01/04/2021 01/04/2020
to to to to
31/03/2022 31/03/2021 31/03/2022 31/03/2021
Details of bonds or debentures [Abstract]
Details of bonds or debentures [LineItems]
Whether bonds or debentures Debenture Debenture Debenture Debenture
Nature of bond or debenture Non-convertible Non-convertible Non-convertible Non-convertible
Holder of bond or debenture Intercorporate Intercorporate Intercorporate Intercorporate
Rate of interest 14.50% 14.50% 14.50% 14.50%
)Equal principal )Equal principal Equated monthly
Equated monthly
installments of Rs. installments of Rs. installment of Rs.
installment of Rs.
Particulars of redemption or conversion 83,33,333 + Interest 83,33,333 + Interest 31,80,525 to be
31,80,525 to be paid
starting from starting from paid twice in a
twice in a month.
31-01-2022. 31-01-2022. month.
Nominal value per bond or debenture [pure] 10 [pure] 10 [pure] 10 [pure] 10
Number of bonds or debentures [pure] 0 [pure] 0 [pure] 0 [pure] 0
Amount of bonds or debentures issued during
1,750 0 444.45 0
period
Number of allottees to whom bonds or
debentures were issued
Earliest date of redemption 31/01/2024 31/01/2024 30/04/2023 30/04/2023
Nominal amount of bonds or debentures held
by nominee or trustee of company
Book value of bonds or debentures held by
nominee or trustee of company

01/04/2021
to
31/03/2022
Disclosure of notes on borrowings explanatory [TextBlock] [See below]
35
Disclosure of notes on borrowings explanatory [Text Block]

6.00 Long term borrowings
As at
As at March
March 31, 2022 31,
2021
Secured
Debentures 1592.18 0.00
Term loan from banks / financial institution 1145.02 0.00
Unsecured
# Loan From Other 0.00 142.92
Total 2737.20 142.92
Lease rent payable to EESL from April 1, 2020 to September 30,
# 2020 converted into unsecured loan to be repayable in 24 months at
interest rate 12.05% p.a.
Terms & Conditions
Nature of Security
Amount as
S.No (a) Loan Form Others on Terms of repayment
31-03-2022
(i) Incred Financial Services Limited
Repayable in:
(a) 24 equally monthly
instalment starting form 15th
Rupee term loan of Rs.10,00,00,000 are secured by way of Pari
Jan'22 of Rs. 48,24,943
Passu Charge on all the Fixed Assets and current Assets of the
886.31 each
Company having a minimum 1.00 X Cover based on book value of
the Assets at all times during the tenor of the loan.
(Interest is at 14.5 % p.a
Payable on the outstanding
facility amount)
(ii) UC Inclusive Credit Pvt. Ltd.

Repayable in:
instalment starting form 8th
Rupee term loan of Rs. 3,25,00,000.00 are secured by way of Pari
feb'22 of Rs.20,46,676 each
Passu Charge on all the Fixed Assets and current Assets of the 292.65
borrower, both Present & Future.
(Interest is Payable at 16.25
% p.a)
(iii) Unity Small Finance Bank Ltd.

Repayable in:
Rupee term loan of Rs.15,00,00,000.00 (Disbursement in multiples
tranches)
instalment starting form 31st
(a) Ist tranche-INR 7.50 Cr. To be disbursed upfront,
Dec'21 of Rs.31,25,000
(b) 2nd tranche-To be timed in line with other lender's disbursement. 1343.75
each
The borrowing is secured by first pari-passu charge on current,
movable and intangible assets along with hypothecation on all
(Interest is Payable at 14.50
existing and future receivables to be created prior to disbursement.
% p.a payable monthly)
(iv) Stride Ventures India Fund

Unrated unlisted redeemable "NCDs"/"Debentures" of
Rs.30,00,00,000, to be disbursed in tranches of INR 10,00,00,000.
Repayable in:
The NCDs Shall be secured by; (a) 8 quarterly amortization
1. First Pari-Passu Charge and hypothecation an all existing and of Rs.1,25,00,000 starting
future current, fixed and intangible assets of the borrower; form 15th feb'22.
875.00
36
The NCDs Shall carry a

2. Debt Service Reserve Amount (DSRA) of two months repayment coupon of 14.50% p.a
instalment to be maintained payable monthly.
(v) Western Capital Advisors Private Limited

Repayable in:
(a) Equal monthly
installment of principal of
Secured rupee term loan of Rs. 10,00,00,000 secured by way of
Rs. 66,66,666 + Interest
creating pari passu charges with other lenders on all the assets 866.67
starting from 01-03-2022.
including fixed and current assets.
(Interest is payable at 16%
p.a. payable monthly)
(vi) Alteria Capital Fund
Repayable in:
Unrated unlisted redeemable "NCDs"/"CCPS" of Rs.15,00,00,000, to
(a) Tranche 1: Amortized on
be disbursed in tranches of INR 7,50,00,000.
monthly equated installment
of Rs. 3409091 + Interest
The NCDs Shall be secured by;
starting from 1st March,
1. Pari-Passu secured charge an all existing and future current, fixed 681.82
2022.
and intangible assets of the borrower;
The NCD's shall carry a
2. Debt Service Reserve Amount (DSRA) of one months repayment
coupon of 14.50% per
instalment to be maintained.
annum payable monthly.
(vii) Blacksoil India Credit Fund / Blacksoil Capital Private Limited

Repayable in:
Unrated unlisted redeemable "NCDs"/"Debentures of
(a)Equal principal
Rs.20,00,00,000, to be disbursed in single tranche.
installments of Rs.
83,33,333 + Interest starting
The NCDs Shall be secured by;
from 31-01-2022.
1. Pari-Passu secured charge an all existing and future current, fixed
and intangible assets of the borrower;
The NCD's shall carry a
coupon of 14.50% per
2. Security cover of 1.2x to be maintained at all times..
annum payable monthly.
1750.00
(viii) Klub Works Private Limited - Tranche 1

Equated monthly installment
Unrated unlisted redeemable "NCDs"/"Debentures of Rs.
of Rs. 31,80,525 to be paid
5,00,00,000, to be disbursed in single tranche.
twice in a month.
444.45
The company has to provide corporate guarantee to Klub/Aceler 8
The NCD's will carry a
from the holding company i.e. Blu-Smart Mobility Private Limited
coupon rate of 14.50%
(ix) Klub Works Private Limited - Tranche 2 & 3

Equated monthly installment
Unrated unlisted redeemable "NCDs"/"Debentures of Rs.
of Rs. 37,36,100 to be paid
5,00,00,000, to be disbursed in two tranche of Rs. 3 crore & Rs. 2
twice in a month.
crore respectively 483.33
The company has to provide corporate guarantee to Klub/Aceler 8
The NCD's will carry a
from the holding company i.e. Blu-Smart Mobility Private Limited
coupon rate of 12.08%
8.00 Short term borrowings

As at As at
March 31, 2022 March 31, 2021
Secured
Current maturity - Term loan from bank / financial institution 2444.35 0.00
Current maturity - Debentures 2642.42 0.00
Unsecured
Current maturity - Term loan from other 155.47 126.77
Credit card debt 34.11 0.00
37
5276.36 126.77
[201000] Notes - Tangible assets
Disclosure of tangible assets [Table] ..(1)

Classes of tangible assets [Axis] Company total tangible assets [Member]
Sub classes of tangible assets [Axis] Owned and leased assets [Member]
Carrying amount accumulated depreciation and
Carrying amount [Member] Gross carrying amount [Member]
gross carrying amount [Axis]
01/04/2021 01/04/2020 01/04/2021 01/04/2020
to to 31/03/2020 to to 31/03/2020
31/03/2022 31/03/2021 31/03/2022 31/03/2021
Disclosure of tangible assets [Abstract]
Disclosure of tangible assets
[LineItems]
Reconciliation of changes in
tangible assets [Abstract]
Changes in tangible assets
[Abstract]
Additions other than through
business combinations tangible 329.69 29.76 329.69 29.76
assets
Depreciation tangible assets -91.21 -56.8
Disposals tangible assets
[Abstract]
Disposals tangible assets,
0 1 0 1
others
Total disposals tangible
0 1 0 1
assets
Total changes in tangible
238.48 -28.04 329.69 28.76
assets
Tangible assets at end of period 320.94 82.46 110.5 497.87 168.18 139.42

Classes of tangible assets [Axis] Company total tangible assets [Member] Furniture and fixtures [Member]
Sub classes of tangible assets [Axis] Owned and leased assets [Member] Owned assets [Member]
Carrying amount accumulated depreciation and Accumulated depreciation and impairment
Carrying amount [Member]
gross carrying amount [Axis] [Member]
01/04/2021 01/04/2020 01/04/2021 01/04/2020
to to 31/03/2020 to to 31/03/2020
31/03/2022 31/03/2021 31/03/2022 31/03/2021
[LineItems]
[Abstract]
business combinations tangible 5.02 0.79
assets
Depreciation tangible assets 91.21 56.8 -0.65 -0.45
[Abstract]
0 0
others
0 0
assets
91.21 56.8 4.37 0.34
assets
38

Classes of tangible assets [Axis] Furniture and fixtures [Member]
Sub classes of tangible assets [Axis] Owned assets [Member]
Gross carrying amount [Member]
01/04/2021 01/04/2020 01/04/2021 01/04/2020
to to 31/03/2020 to to 31/03/2020
31/03/2022 31/03/2021 31/03/2022 31/03/2021
[LineItems]
[Abstract]
assets
Depreciation tangible assets 0.65 0.45
[Abstract]
0 0
others
0 0
assets
5.02 0.79 0.65 0.45
assets

Classes of tangible assets [Axis] Vehicles [Member]
01/04/2021 01/04/2020 01/04/2021 01/04/2020
to to 31/03/2020 to to 31/03/2020
31/03/2022 31/03/2021 31/03/2022 31/03/2021
[LineItems]
[Abstract]
business combinations tangible 0 0 0 0
assets
[Abstract]
0 0 0 0
others
0 0 0 0
assets
-0.03 -0.05 0 0
assets
39

Classes of tangible assets [Axis] Vehicles [Member] Motor vehicles [Member]
Sub classes of tangible assets [Axis] Owned assets [Member] Owned assets [Member]
01/04/2021 01/04/2020 01/04/2021 01/04/2020
to to 31/03/2020 to to 31/03/2020
31/03/2022 31/03/2021 31/03/2022 31/03/2021
[LineItems]
[Abstract]
business combinations tangible 0 0
assets
[Abstract]
0 0
others
0 0
assets
0.03 0.05 -0.03 -0.05
assets

Classes of tangible assets [Axis] Motor vehicles [Member]
01/04/2021 01/04/2020 01/04/2021 01/04/2020
to to 31/03/2020 to to 31/03/2020
31/03/2022 31/03/2021 31/03/2022 31/03/2021
[LineItems]
[Abstract]
business combinations tangible 0 0
assets
[Abstract]
0 0
others
0 0
assets
0 0 0.03 0.05
assets
40

Classes of tangible assets [Axis] Office equipment [Member]
01/04/2021 01/04/2020 01/04/2021 01/04/2020
to to 31/03/2020 to to 31/03/2020
31/03/2022 31/03/2021 31/03/2022 31/03/2021
[LineItems]
[Abstract]
assets
[Abstract]
0 0 0 0
others
0 0 0 0
assets
12 1.54 16.68 4.24
assets

Classes of tangible assets [Axis] Office equipment [Member] Computer equipments [Member]
01/04/2021 01/04/2020 01/04/2021 01/04/2020
to to 31/03/2020 to to 31/03/2020
31/03/2022 31/03/2021 31/03/2022 31/03/2021
[LineItems]
[Abstract]
assets
[Abstract]
0 0
others
0 0
assets
4.68 2.7 59.44 -2.05
assets
41

Classes of tangible assets [Axis] Computer equipments [Member]
01/04/2021 01/04/2020 01/04/2021 01/04/2020
to to 31/03/2020 to to 31/03/2020
31/03/2022 31/03/2021 31/03/2022 31/03/2021
[LineItems]
[Abstract]
assets
[Abstract]
0 0
others
0 0
assets
80.57 9.19 21.13 11.24
assets

Classes of tangible assets [Axis] Other tangible assets [Member]
01/04/2021 01/04/2020 01/04/2021 01/04/2020
to to 31/03/2020 to to 31/03/2020
31/03/2022 31/03/2021 31/03/2022 31/03/2021
[LineItems]
[Abstract]
assets
[Abstract]
0 1 0 1
others
0 1 0 1
assets
162.7 -27.82 227.42 14.54
assets
Tangible assets at end of period 226.88 64.18 92 357.02 129.6 115.06
42

Classes of tangible assets [Axis] Other tangible assets [Member] Other tangible assets, others [Member]
01/04/2021 01/04/2020 01/04/2021 01/04/2020
to to 31/03/2020 to to 31/03/2020
31/03/2022 31/03/2021 31/03/2022 31/03/2021
[LineItems]
Mobile, EV M o b i l e , EV
Battery,Electric Battery,Electric
Nature of other tangible assets Vehicle Charger & Vehicle Charger &
Civil Cost Hub Civil Cost Hub
[Abstract]
assets
[Abstract]
0 1
others
0 1
assets
64.72 42.36 162.7 -27.82
assets
Tangible assets at end of period 130.14 65.42 23.06 226.88 64.18 92

Classes of tangible assets [Axis] Other tangible assets, others [Member]
Carrying amount accumulated depreciation Accumulated depreciation and impairment
and gross carrying amount [Axis] [Member]
01/04/2021 01/04/2020 01/04/2021 01/04/2020
to to 31/03/2020 to to 31/03/2020
31/03/2022 31/03/2021 31/03/2022 31/03/2021
[LineItems]
Mobile, EV Mobile, EV Mobile, EV Mobile, EV
Battery,Electric Battery,Electric Battery,Electric Battery,Electric
Nature of other tangible assets Vehicle Charger & Vehicle Charger & Vehicle Charger & Vehicle Charger &
Civil Cost Hub Civil Cost Hub Civil Cost Hub Civil Cost Hub
[Abstract]
assets
[Abstract]
0 1
others
0 1
assets
227.42 14.54 64.72 42.36
assets
43
Disclosure of additional information tangible assets [Table] ..(1)

Company total tangible assets
Classes of tangible assets [Axis] Furniture and fixtures [Member] Vehicles [Member]
[Member]
Owned and leased assets
[Member]
01/04/2021
01/04/2021 01/04/2020 01/04/2020 01/04/2021 01/04/2020
to to to to to
to
31/03/2022 31/03/2021 31/03/2021 31/03/2022 31/03/2021
31/03/2022
Disclosure of additional information
tangible assets [LineItems]
As per
As per Companies As
Depreciation method tangible assets N/A N/A Companies
per Companies Act
N/A N/A
Act
As per
Useful lives or depreciation rates
N/A N/A Companies As per Companies Act N/A N/A
tangible assets Act

Computer equipments
Classes of tangible assets [Axis] Motor vehicles [Member] Office equipment [Member]
[Member]
Sub classes of tangible assets [Axis] Owned assets [Member] Owned assets [Member] Owned assets [Member]
01/04/2021 01/04/2020 01/04/2021 01/04/2020 01/04/2021 01/04/2020
to to to to to to
31/03/2022 31/03/2021 31/03/2022 31/03/2021 31/03/2022 31/03/2021
tangible assets [LineItems]
As perAs perAs perAs perAs per As per
Depreciation method tangible assets Companies Act Companies Act Companies Act Companies Act Companies Act Companies Act
Useful lives or depreciation rates As perAs perAs perAs perAs per As per
tangible assets Companies Act Companies Act Companies Act Companies Act Companies Act Companies Act

Classes of tangible assets [Axis] Other tangible assets [Member] Other tangible assets, others [Member]
01/04/2021 01/04/2020 01/04/2021 01/04/2020
to to to to
31/03/2022 31/03/2021 31/03/2022 31/03/2021
Disclosure of additional information tangible assets
[Abstract]
Disclosure of additional information tangible assets
[LineItems]
As per Companies As per Companies
Depreciation method tangible assets N/A N/A
Act Act
As per Companies As per Companies
Useful lives or depreciation rates tangible assets N/A N/A
Act Act
44
[201100] Notes - Intangible assets
Disclosure of intangible assets [Table] ..(1)

Classes of intangible assets [Axis] Company total intangible assets [Member]
Sub classes of intangible assets [Axis] Internally generated and other than internally generated intangible assets [Member]
Carrying amount accumulated amortization and
impairment and gross carrying amount [Axis]
01/04/2021 01/04/2020 01/04/2021 01/04/2020
to to 31/03/2020 to to 31/03/2020
31/03/2022 31/03/2021 31/03/2022 31/03/2021
Disclosure of intangible assets [Abstract]
Disclosure of intangible assets
[LineItems]
intangible assets [Abstract]
Changes in intangible assets
[Abstract]
Additions to intangible assets
[Abstract]
Additions through internal
376.35 201.69 376.35 201.69
development
Total additions to
376.35 201.69 376.35 201.69
intangible assets
Amortization intangible assets -89.33 -31.26
Disposals intangible assets
[Abstract]
Disposals intangible
0 0 0 0
assets through demergers
0 0 0 0
assets, others
Total disposals intangible
0 0 0 0
assets
Total changes in intangible
287.02 170.43 376.35 201.69
assets
Intangible assets at end of period 523.06 236.04 65.61 643.67 267.32 65.63
45

Classes of intangible assets [Axis] Company total intangible assets [Member] Brands and trade marks [Member]
Internally generated and other than internally Internally generated intangible assets
Sub classes of intangible assets [Axis]
generated intangible assets [Member] [Member]
Carrying amount accumulated amortization and Accumulated amortization and impairment
impairment and gross carrying amount [Axis] [Member]
01/04/2021 01/04/2020 01/04/2021 01/04/2020
to to 31/03/2020 to to 31/03/2020
31/03/2022 31/03/2021 31/03/2022 31/03/2021
[LineItems]
[Abstract]
[Abstract]
0 0
development
Total additions to
0 0
intangible assets
Amortization intangible assets 89.33 31.26 -0.03 -0.02
[Abstract]
0 0 0 0
0 0 0 0
assets, others
0 0 0 0
assets
89.33 31.26 -0.03 -0.02
assets

Classes of intangible assets [Axis] Brands and trade marks [Member]
Sub classes of intangible assets [Axis] Internally generated intangible assets [Member]
01/04/2021 01/04/2020 01/04/2021 01/04/2020
to to 31/03/2020 to to 31/03/2020
31/03/2022 31/03/2021 31/03/2022 31/03/2021
[LineItems]
[Abstract]
[Abstract]
0 0
development
Total additions to
0 0
intangible assets
Amortization intangible assets 0.03 0.02
[Abstract]
0 0 0 0
0 0 0 0
assets, others
0 0 0 0
assets
0 0 0.03 0.02
assets
46

Classes of intangible assets [Axis] Trade marks [Member]
Carrying amount accumulated amortization and
impairment and gross carrying amount [Axis]
01/04/2021 01/04/2020 01/04/2021 01/04/2020
to to 31/03/2020 to to 31/03/2020
31/03/2022 31/03/2021 31/03/2022 31/03/2021
[LineItems]
[Abstract]
[Abstract]
0 0 0 0
development
Total additions to
0 0 0 0
intangible assets
Amortization intangible assets -0.03 -0.02
[Abstract]
0 0 0 0
0 0 0 0
assets, others
0 0 0 0
assets
-0.03 -0.02 0 0
assets

Classes of intangible assets [Axis] Trade marks [Member] Computer software [Member]
Internally generated intangible assets
[Member]
01/04/2021 01/04/2020 01/04/2021 01/04/2020
to to 31/03/2020 to to 31/03/2020
31/03/2022 31/03/2021 31/03/2022 31/03/2021
[LineItems]
[Abstract]
[Abstract]
376.35 201.69
development
Total additions to
376.35 201.69
intangible assets
Amortization intangible assets 0.03 0.02 -89.3 -31.24
[Abstract]
0 0 0 0
0 0 0 0
assets, others
0 0 0 0
assets
0.03 0.02 287.05 170.45
assets
47

Classes of intangible assets [Axis] Computer software [Member]
01/04/2021 01/04/2020 01/04/2021 01/04/2020
to to 31/03/2020 to to 31/03/2020
31/03/2022 31/03/2021 31/03/2022 31/03/2021
[LineItems]
[Abstract]
[Abstract]
376.35 201.69
development
Total additions to
376.35 201.69
intangible assets
Amortization intangible assets 89.3 31.24
[Abstract]
0 0 0 0
0 0 0 0
assets, others
0 0 0 0
assets
376.35 201.69 89.3 31.24
assets
Intangible assets at end of period 643.43 267.08 65.39 120.54 31.24 0
Disclosure of additional information intangible assets [Table] ..(1)

Company total intangible assets Brands and trade marks
Classes of intangible assets [Axis] Trade marks [Member]
[Member] [Member]
Internally generated and other
Internally generated intangible Internally generated intangible
Sub classes of intangible assets [Axis] than internally generated
assets [Member] assets [Member]
intangible assets [Member]
01/04/2021 01/04/2020 01/04/2021 01/04/2020 01/04/2021 01/04/2020
to to to to to to
31/03/2022 31/03/2021 31/03/2022 31/03/2021 31/03/2022 31/03/2021
intangible assets [LineItems]
Useful lives or amortization rates As per As per
N/A N/A N/A N/A
intangible assets Companies Act Companies Act
Description of amortization method As per As per
N/A N/A N/A N/A
used Companies Act Companies Act
Disclosure of additional information intangible assets [Table] ..(2)

Computer
Classes of intangible assets [Axis]
software [Member]
Internally
generated
Sub classes of intangible assets [Axis]
intangible assets
[Member]
01/04/2020
to
31/03/2021
Disclosure of additional information intangible assets [Abstract]
Disclosure of additional information intangible assets [LineItems]
As per Companies
Useful lives or amortization rates intangible assets Act
As per Companies
Description of amortization method used Act
48
[200400] Notes - Non-current investments

31/03/2022 31/03/2021
Disclosure of notes on non-current investments explanatory [TextBlock]
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 0 0
Aggregate provision for diminution in value of non-current investments 0 0
[200500] Notes - Current investments

31/03/2022 31/03/2021
Disclosure of notes on current investments explanatory [TextBlock]
Aggregate amount of quoted current investments 0 0
Market value of quoted current investments 0 0
Aggregate amount of unquoted current investments 0 0
Aggregate provision for diminution in value of current investments 0 0
[200600] Notes - Subclassification and notes on liabilities and assets
Classification of inventories [Table] ..(1)

Classification of inventories [Axis] Company total inventories [Member]
31/03/2022 31/03/2021
Subclassification and notes on liabilities and assets [Abstract]
Inventories notes [Abstract]
Inventories [Abstract]
Classification of inventories [Abstract]
Details of inventories [LineItems]
Inventories 0 0
49
Loans and advances [Table] ..(1)

Loans advances given suppliers
Classification of loans and advances [Axis] Capital advances [Member]
[Member]
Classification of assets based on security [Axis] Unsecured considered good [Member] Unsecured considered good [Member]
31/03/2022 31/03/2021 31/03/2022 31/03/2021
Subclassification and notes on liabilities and assets
[Abstract]
Loans and advances notes [Abstract]
Loans and advances [Abstract]
Disclosure of loans and advances [LineItems]
Loans and advances, gross 34.4 0.79 79.29 6.06
Allowance for bad and doubtful loans and
0 0 0 0
advances
Loans and advances 34.4 0.79 79.29 6.06
Details of loans and advances due by
directors, other officers or others
[Abstract]
Loans and advances due by directors 0 0 0 0
Loans and advances due by other officers 0 0 0 0
Total loans and advances due by
0 0 0 0
Details of loans and advances due by firms
or companies in which any director is
partner or director [Abstract]
Loans and advances due by firms in
0 0 0 0
which any director is partner
Total loans and advances due
by firms or companies in which
0 0 0 0
any director is partner or
director

Loans advances given employees
Classification of loans and advances [Axis] Other loans and advances [Member]
[Member]
Classification of assets based on security [Axis] Unsecured considered good [Member] Unsecured considered good [Member]
01/04/2021 01/04/2020
31/03/2022 31/03/2021 to to
31/03/2022 31/03/2021
[Abstract]
Loans and advances, gross 15.24 17.32 0.32 0.16
Allowance for bad and doubtful loans and
0 0 0 0
advances
Loans and advances 15.24 17.32 0.32 0.16
Nature of other loans and advances N/A N/A
Details of loans and advances due by
[Abstract]
Loans and advances due by directors 0 0 0 0
Loans and advances due by other officers 0 0 0 0
Total loans and advances due by
0 0 0 0
Details of loans and advances due by firms
or companies in which any director is
partner or director [Abstract]
Loans and advances due by firms in
0 0 0 0
Total loans and advances due
by firms or companies in which
0 0 0 0
any director is partner or
director
50

Other loans and advances, others
Classification of loans and advances [Axis]
[Member]
Classification of assets based on security [Axis] Unsecured considered good [Member]
01/04/2021 01/04/2020
to to
31/03/2022 31/03/2021
Subclassification and notes on liabilities and assets [Abstract]
Loans and advances, gross 0.32 0.16
Allowance for bad and doubtful loans and advances 0 0
Loans and advances 0.32 0.16
Nature of other loans and advances Advance to Other Advance to Other
Details of loans and advances due by directors, other officers or others
[Abstract]
Loans and advances due by directors 0 0
Loans and advances due by other officers 0 0
Total loans and advances due by directors, other officers or others 0 0
Details of loans and advances due by firms or companies in which any
director is partner or director [Abstract]
Loans and advances due by firms in which any director is partner 0 0
Total loans and advances due by firms or companies in which any director
0 0
is partner or director
Disclosure of breakup of provisions [Table] ..(1)

31/03/2022 31/03/2021 31/03/2022 31/03/2021
[Abstract]
Provisions notes [Abstract]
Disclosure of breakup of provisions [Abstract]
Disclosure of breakup of provisions [LineItems]
Provisions [Abstract]
Provisions for employee benefits
[Abstract]
Provision gratuity 32.63 17.65 0.06 0.03
Total provisions for employee benefits 32.63 17.65 0.06 0.03
CSR expenditure provision 0 0 0 0
Total provisions 32.63 17.65 0.06 0.03
51
Subclassification of trade receivables [Table] ..(1)

Classification of assets based on security
Classification of assets based on security [Axis] Unsecured considered good [Member]
[Member]
31/03/2022 31/03/2021 31/03/2022 31/03/2021
[Abstract]
Trade receivables notes [Abstract]
Trade receivables [Abstract]
Subclassification of trade receivables
[Abstract]
Subclassification of trade receivables
[LineItems]
Breakup of trade receivables [Abstract]
Trade receivables, gross 6.74 1.85 6.74 1.85
Allowance for bad and doubtful debts 0 0 0 0
Total trade receivables 6.74 1.85 6.74 1.85
Details of trade receivables due by
[Abstract]
Trade receivables due by directors 0 0
Trade receivables due by other officers 0 0
Total trade receivables due by
directors, other officers or 0 0
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
Total trade receivables due by firms
or companies in which any director is 0 0
partner or director
52

01/04/2021 01/04/2020
to to
31/03/2022 31/03/2021
Disclosure of subclassification and notes on liabilities and assets
explanatory [TextBlock]
Trade payables, long-term 0 0
Total other long-term liabilities 0 0
Interest accrued but not due on borrowings 10.71 0
Interest accrued and due on borrowings 0 0
Interest accrued but not due on public deposits 0 0
Interest accrued and due on public deposits 0 0
Debentures claimed but not paid 0 0
Unpaid dividends 0 0
Application money received for allotment of securities and
0 0
due for refund, principal
Unpaid matured deposits and interest accrued thereon 0 0
Unpaid matured debentures and interest accrued thereon 0 0
Public deposit payable, current 0 0
Total other payables, current 0 0
Advance received from customers 89.22 26.22
Current liabilities portion of share application money pending
0 0
allotment
Other current liabilities, others (A) 869.25 (B) 474.44
Total other current liabilities 969.18 500.66
Share other current liabilities joint ventures 0 0
Disclosure of notes on other non-current assets explanatory Textual information (7)
[TextBlock] [See below]
Other non-current assets, others 9,369.23 847.44
Total other non-current assets 9,369.23 847.44
Nature of other non-current assets, others As per notes As per notes
Disclosure of notes on trade receivables explanatory [TextBlock] [See below]
Aggregate amount of trade receivables outstanding for period
0.99 0.41
exceeding six months
Fixed deposits with banks 0 0
Other deposits with banks 11,182.49 1,004.68
Other balances with banks 845.58 33.88
Total balance with banks 12,028.07 1,038.56
Cash on hand 34.22 3.78
Total cash and cash equivalents 12,062.29 1,042.34
Total cash and bank balances 12,062.29 1,042.34
Balances held with banks to extent held as margin money 0 0
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 twelve months maturity 0 0
Unbilled revenue 50.42 0
Dividend receivable, subsidiaries 0 0
Total dividend receivable 0 0
Other current assets, others (C) 1,352.75 (D) 496.21

Total other current assets 1,403.17 496.21
Nature of other current assets As per Foot Note As per Foot Note
Footnotes
(A) Other Payable 517.94 Capital Creditors 36.16 Provision for expense 150.35 Employee Dues Payable 149.81 Audit fees payable
15.00
(B) Other Payable 394.41 Capital Creditors 1.13 Provision for expense 7.60 Employee Dues Payable 63.80 Audit fees payable 7.50
(C) Others Receivables 37.69 Rent Deposits 95.21 Other Deposits 0.15 Prepaid Expenses 141.67 Accrued Interest on fixed deposits
186.65 Balance with Government Authorities 891.39
(D) Others Receivables 8.93 Rent Deposits 83.64 Other Deposits 0.00 Prepaid Expenses 41.45 Accrued Interest on fixed deposits
0.00 Balance with Government Authorities 362.19
53
Disclosure of notes on other non-current assets explanatory [Text Block]

Other non-current assets
As at As at
March 31, 2022 March 31, 2021
Earnest Money Deposits 4.50 0.00
Security Deposits for cars taken on lease 5884.04 812.54
Electricity Deposits 21.24 0.18
Security Deposits for loan 499.27 0.00
Rent Deposits 88.88 34.72
Prepaid expense 226.12 0.00
Fixed deposits with bank (Maturity more than 12 months) 2645.19 0.00
Total 9369.23 847.44
Disclosure of notes on trade receivables explanatory [Text Block]

17 Trade receivables
As at
As at
March 31,
March 31, 2021
2022
Trade Receivable
(a) Trade receivables outstanding for a period exceeding six months from the
date they were due for payment
(i) Secured, considered good - -
(ii) Unsecured, considered good 0.99 0.41
(iii) Doubtful - -
- -
(b) Other Trade receivables - -
(i) Secured, considered good - -
(ii) Unsecured, considered good 5.75 1.44
(iii) Doubtful - -
Total 6.74 1.85
Ageing: As at 31st March, 2022

Unsecured receivable
Outstanding for following period from due date of payment
considered good
Less than 6 months 5.75
6 months - 1 year 0.39
1 -2 years 0.60
2 - 3 years -
More than 3 years -
Total 6.74
Ageing: As at 31st March, 2021

Unsecured receivable
Outstanding for following period from due date of payment
considered good
Less than 6 months 1.44
6 months - 1 year 0.41
1 -2 years -
2 - 3 years -
More than 3 years -
Total 1.85
54
[200700] Notes - Additional disclosures on balance sheet

01/04/2021 01/04/2020
to to 31/03/2020
31/03/2022 31/03/2021
Disclosure of additional balance sheet notes explanatory [TextBlock] [See below]
Estimated amount of contracts remaining to be executed on
0 0
capital account and not provided for
Total commitments 0 0
Total contingent liabilities and commitments 0 0
Amount of dividends proposed to be distributed to equity shareholders 0 0
Amount of per share dividend proposed to be distributed to equity
shareholders
Amount of per share dividend proposed to be distributed to
preference shareholders
Percentage of proposed dividend 0.00% 0.00%
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
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
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
Share application money received during year 0 0
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] 0
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] 0
Whether maintenance of cost records by company has been
mandated under Companies (Cost Records and Audit) Rules, No No
2014
Unclaimed share application refund money 0 0
Unclaimed matured debentures 0 0
Unclaimed matured deposits 0 0
Interest unclaimed amount 0 0
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
55
Disclosure of additional balance sheet notes explanatory [Text Block]

(Amount
Deferred tax assets (net) in Lacs
Rs.)
As at (Amount
March in Lacs
31, 2022 Rs.)
Recognised
Opening Closing
in Profit &
balance balance
Loss
(a) Deferred tax assets
Difference between written down value (WDV) as per books and as per Income Tax Act
10.50 7.66 18.17
1961
Provision for gratuity 4.60 3.90 8.50
TotaL deferred tax assets 15.10 11.56 26.67
(b) Deferred tax liabilities
Property, plant & equipment and intangible assets 4.59 8.33 12.92
Total deferred tax liabilities 4.59 8.33 12.92
Deferred tax assets (liabilities) Net 10.51 3.23 13.75
As at (Amount
March in Lacs
31, 2021 Rs.)
Recognised
Opening Closing
in Profit &
balance balance
Loss
(a) Deferred tax assets
Difference between written down value (WDV) as per books and as per Income Tax Act
3.31 7.19 10.50
1961
Provision for gratuity 1.34 3.26 4.60
TotaL deferred tax assets 4.65 10.45 15.10
(b) Deferred tax liabilities
Property, plant & equipment and intangible assets 0.02 4.57 4.59
Total deferred tax liabilities 0.02 4.57 4.59
Deferred tax assets (liabilities) Net 4.63 5.88 10.51
Note:- Due to absence of virtual certainty of realisation of carry forward business losses in
near future, Deferred tax assets has not created on brought forward business losses &
Unabsorbed Depreciation.
[200800] Notes - Disclosure of accounting policies, changes in accounting policies and estimates
01/04/2021 01/04/2020
to to
31/03/2022 31/03/2021
Disclosure of accounting policies, change in accounting policies and Textual information (10) Textual information (11)
changes in estimates explanatory [TextBlock] [See below] [See below]
56
Disclosure of accounting policies, change in accounting policies and changes in estimates explanatory [Text Block]
• Corporate information
Blu-Smart Mobility Private Limited (the Company) is a private company domiciled in India and incorporated under the provisions of
Companies Act, 2013. Blu-Smart Mobility Private Limited is engaged in the business of providing customers with a platform & to enable
transactions of hiring of all types of cars and Software designing, development, customization implementation maintenance. The Company
was incorporated on 24th October, 2018.The Company is holding company of Wholly owned subsidiary Companies namely Blu-Smart Fleet
Private Limited , Blu-Smart Charge Private Limited and Blu-Smart Mobility Tech Private Limited.
Summary of significant accounting policies
• Basis of Preparation of consolidated financial statements & Use of Estimates
The Consolidated financial statements of the Group have been prepared in accordance with the generally accepted accounting principles in
India (Indian GAAP). The Consolidated financial statements have been prepared on an accrual basis under the historical cost convention. The
accounting policies have been consistently applied by the Company and are consistent with those used in the previous year. The Group has
prepared these consolidated financial statements to comply in all material respects with the accounting standards notified under Section 133
of the Companies Act, 2013, read together with paragraph 7 of the Companies (Accounts) Rules, 2014 and the other relevant provisions of
the Companies Act, 2013 & the Companies (Accounting Standards) Amendment Rules, 2016.
The preparation of consolidated financial statements in conformity with generally accepted accounting principles requires management to
make estimates and assumptions that affect the reported amounts of assets and liabilities, income and expenditure and disclosure of
contingent liabilities at the date of the balance sheet and the results of operations during the reporting period. Although these estimates are
based upon management’s best knowledge of current events and actions, actual results could differ from these estimates. Difference between
the actual results and estimates are recognized in the period in which the results are known/ materialized.
The consolidated financial statements include the financial statements of Blu-Smart Mobility Private Limited (‘the Company’), its
subsidiaries companies as described in Note No. 29 (collectively referred to as ‘the Group’). The consolidated financial statements have been
prepared on the basis of Accounting Standard 21, ‘Consolidated financial statements’, issued by the Institute of Chartered Accountants of
India. The consolidated financial statements have been prepared on the following basis:
• The financial statements of the Company and its subsidiary companies are combined on a line-by-line basis by adding together the book
value of like items of assets, liabilities, income and expenses, after fully eliminating intra-group balances and intragroup transactions
resulting in unrealised profits or losses in accordance with Accounting Standard-21 - "Consolidated financial statements" issued by the
Institute of Chartered Accountants of India.
• The difference between the cost of investment in the subsidiaries, over the net assets at the time of acquisition of shares in the subsidiaries
is recognised in the consolidated financial statements as Goodwill or Capital Reserve as the case may be.
As far as possible, the Consolidated financial statements are prepared using uniform accounting policies for like transactions and other events
in similar circumstances and are presented in the same manner as the Company's separate consolidated financial statements, except where it
is not practicable to do so.
Intragroup balances and intragroup transactions are eliminated to the extent of share of the parent company in full.
Unrealised profits on account of intra group transactions have been accounted for depending upon whether the transaction is an upstream or a
downstream transaction.
Current & Non- Current Classification
All the assets and liabilities have been classified as current or non-current as per the Company’s normal operating cycle as 12 months and
other criteria set out in Revised Schedule III to the Companies Act, 2013. Based on the nature of activities and time between the activities
performed and their subsequent realisation in cash or cash equivalents, the company has ascertained its operating cycle as 12 months for the
purpose of current / non-current classification of assets and liabilities.
Cash and Cash Equivalents
Cash comprises cash on hand and demand deposit with banks. Cash equivalents are short-term balances (with an original Maturity of three
months or less from the date of acquisition), highly liquid investments that are readily convertible into known amounts of cash and which are
subject to insignificant risk of changes in value.
Property plant and equipment and Intangible assets
Property plant and equipment are stated at cost of acquisition or construction less accumulated depreciation / amortisation and impairment
losses, if any. The cost comprises of the purchase price and any attributable cost of bringing the assets to its working condition for its
intended use.
Intangible assets acquired separately are measured on initial recognition at cost. Following initial recognition, intangible assets are carried at
cost less accumulated amortization and accumulated impairment losses, if any.
Intangible assets with finite lives are amortised over the useful economic life and assessed for impairment whenever there is an indication
that the intangible asset may be impaired. The amortisation period and the amortisation method for an intangible asset with a finite useful life
57
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
58
economic benefits embodied in the asset are considered to modify the amortisation period or method, as appropriate, and are treated as
changes in accounting estimates. The amortisation expense on intangible assets with finite lives is recognised in the statement of profit and
loss unless such expenditure forms part of carrying value of another asset.
Gains or losses arising from de recognition of an intangible asset are measured as the difference between the net disposal
proceeds and the carrying amount of the asset and are recognised in the statement of profit and loss when the asset is derecognised.
The useful life of Cab Booking Application is estimated as 5 years and trademark is estimated as 10 years and accordingly
amortised on a straight line basis over its useful life.

Capital Work in Progress:
Capital work in progress includes the cost of fixed assets that are not ready to use at the balance sheet date and advances paid to acquire fixed
assets before the balance sheet date.
Investment
Investments that are readily realisable and intended to be held for not more than a year are classified as current investments. All other
investments are classified as long term investments.
Long-term investments are stated at cost. Provision for diminution in the value of long-term investments is made only if such a decline is
other than temporary in the opinion of the management.
Current investments are carried at the lower of cost and fair value, computed category wise.
Depreciation and amortisation
• Depreciation on Property plant and equipment is calculated on written down value method (WDV) using the rates arrived at based on the
Useful Life as specified in Schedule II of the Companies Act, 2013.
Type of Assets Useful Life/Amortization Period (In Years)
Mobile 5
Furniture and Fixtures 10
Computer 3
Chargers 10
Vehicles 8
Civil Cost - Hub 5
Office Equipment 5
Computer Software 5
Depreciation on assets acquired / disposed off during the year is provided on pro-rata basis with reference to the date of addition/ disposal.
• Leases
Assets acquired under lease where the Company has substantially all the risks and rewards incidental to ownership are classified as finance
lease. Such assets are capitalised at the inception of the lease at the lower of the fair value or the present value of minimum lease payments
and a liability is created for an equivalent amount. Each lease rental paid is allocated between the liability and the interest cost, so as to obtain
a constant periodic rate of interest on the outstanding liability for each period.
Assets acquired on leases where a significant portion of the risks and rewards incidental to ownership is retained by the lessor are classified
as Operating Lease. Lease rentals are charged to the Statement of Profit and Loss on straight line basis. The Company's significant leasing
arrangements are in respect of operating leases for premises. The leasing arrangements which are not cancellable range between 11 months
and five years generally, and are usually renewable by mutual consent on agreed terms. The aggregate lease rentals payable are charged as
rent including lease rentals.
59
Blu-Smart Mobility Private Limited
Notes to the consolidated financial statements for the year ended March 31, 2022
Revenue recognition
• Revenue (income) is recognized when no significant uncertainty as to the measurability or collectability exists. Revenues from services are
recognised immediately when the service is provided. Sale of Goods is recognised when the significant risks and rewards of ownership of the
goods have passed to the buyer.
• Interest income is accounted for on an accrual basis.

Impairment of Assets
An asset is treated as impaired when the carrying cost of assets exceeds its recoverable value. An impairment loss is charged to the Statement
of Expenses in the period in which an asset is identified as impaired. The impairment loss, if any, recognized in prior accounting periods is
reversed if there has been a change in the estimate of recoverable amount.
• Employee Benefits
• Short Term Employee Benefits
Short term employee benefits are recognised as an expense on accrual basis. Short term Project related employee benefits are recognized as
an expenses at the undiscounted amount in the statement of profit and loss of the year in which the related service is rendered.
Post Employee Benefits
• Defined Benefit Plan:
Gratuity being a defined benefit scheme is accrued based on actuarial valuations, carried out by an independent actuary as at the balance
sheet date using the projected unit credit method.
Actuarial gain and losses in respect of post employment and other long term benefits are recognised as per actuarial assumptions
in the Statement of Profit and Loss in the period in which they arise.
Defined Contribution Plan :
Provision is made for compensated absence based on actuarial valuation, carried out by an independent actuary as at the balance sheet date.
Group contribution to Provident Fund, Employees’ State Insurance Fund and labour welfare fund which are defined contribution plans
determined under the relevant schemes and/or statute are charged to the Statement of Profit and Loss when incurred. There are no other
obligations other than the contribution payable to the respective funds.
Termination benefits, if any, are recognized as an expense as and when incurred.
(ii) Employee Stock Options Outstanding
Certain employees (Senior Executives) of the Group receive remuneration in the form of employee stock options, whereby employees render
services as consideration for equity instruments (equity-settled transactions).
Equity-settled transactions
The cost of equity-settled transactions is determined by the fair value at the date when the grant is made using an appropriate valuation
model.
Cost is recognised, together with a corresponding increase in Employee stock options outstanding , over the period in which the performance
and/or service conditions are fulfilled in employee benefits expense. The cumulative expense recognised for equity- settled transactions at
each reporting date until the vesting date reflects the extent to which the vesting period has expired and the Group’s best estimate of the
number of equity instruments that will ultimately vest. The statement of profit and loss expense or credit for a period represents the
movement in cumulative expense recognised as at the beginning and end of that period and is recognised in employee benefits expense.
Service and non-market performance conditions are not taken into account when determining the grant date fair value of awards, but the
likelihood of the conditions being met is assessed as part of the Group’s best estimate of the number of equity instruments that will ultimately
vest. Market performance conditions are reflected within the grant date fair value.
No expense is recognised for awards that do not ultimately vest because non-market performance and/or service conditions have not been
met. Where awards include a market or non-vesting condition, the transactions are treated as vested irrespective of whether the market or
non-vesting condition is satisfied, provided that all other performance and/or service conditions are satisfied.
When the terms of an equity-settled award are modified, the minimum expense recognised is the expense had the terms had not been
modified, if the original terms of the award are met. An additional expense is recognised for any modification that increases the total fair
value of the share-based payment transaction, or is otherwise beneficial to the employee as measured at the date of modification.
Blu-Smart Mobility Private Limited
60
Notes to the consolidated financial statements for the year ended March 31, 2022
Provisions, contingent liabilities and contingent assets
Provisions involving substantial degree of estimation in measurements are recognised when there is a present obligation as a result of past
events and it is probable that there will be an outflow of resources. Contingent Liabilities are not recognised but are disclosed in the notes.
Contingent Assets are neither recognised nor disclosed in the consolidated financial statements.
• Segment reporting
In accordance with Accounting Standard 17 “Segment Reporting” as prescribed under Companies (Accounting Standards) Rules, 2006 (as
amended ), the Company has determined its business segment as providing customers with a platform & to enable transactions of hiring of all
types of cars and Software designing, development, customization implementation maintenance. Since, there are no other business segments
in which the Company operates; there are no other primary reportable segments. Therefore the segment revenue, segment results, segment
assets, segment liabilities, total cost incurred to acquire segment assets, depreciation charge are all as is reflected in the financial statement.
• Related Party transactions
Disclosure of transactions with related parties, as required by Accounting Standard 18 of the Companies (Accounting Standards) Rules, 2006
(as amended). “Related Party Disclosures” has been set out in a separate statement annexed to this note. Related parties as defined under the
said Accounting Standard (as amended) have been identified on the basis of representations made by management and information available
with the Group.
Earning Per Share
The Group reports basic and diluted earnings per share (EPS) in accordance with the Accounting Standard 20 as specified in the Companies
(Accounting Standards) Rules, 2006 (as amended). The Basic EPS has been computed by dividing the income available to equity
shareholders by the weighted average number of equity shares outstanding during the accounting year. The Diluted EPS has been computed
using the weighted average number of equity shares and dilutive potential equity shares outstanding at the end of the year.
Taxes on Income
• Provision for income tax is made on the basis of estimated taxable income for the year at current rates.
Current Tax represents the amount of Income Tax Payable in respect of the taxable income for the reporting period as determined in
accordance with the provisions of the Income Tax Act, 1961.
Deferred Tax
Deferred tax charge or credit is recognized using enacted or substantially enacted rates at the Balance Sheet date. In case of unabsorbed
depreciation, deferred tax assets are recognized only to the extent there is virtual certainty of realization of such assets. Other deferred tax
assets are recognized only to the extent there is reasonable certainty of realization of income in future. Such assets are reviewed as at each
balance sheet date to reassess realization.
Though other Accounting Standards also apply to the Group by virtue of the Companies (Accounting Standards) Rules 2006 (as amended),
no disclosure for the same is being made as the Group has not done any transaction to which the said Accounting Standard apply.
61
Disclosure of accounting policies, change in accounting policies and changes in estimates explanatory [Text Block]
1 Corporate information
Blu-Smart Mobility Private Limited (the Company) is a private

company domiciled in India and incorporated under the provisions
of Companies Act, 2013. Blu-Smart Mobility Private Limited is
engaged in the business of providing customers with a platform &
to enable transactions of hiring of all types of cars and Software
designing, development, customization implementation
maintenance. The Company was incorporated on 24th October,
2018.The Company is holding company of Wholly owned
subsidary Companies namely Blu-Smart Fleet Private Limited ,
Blu-Smart Charge Private Limited and Blu-Smart Mobility Tech
Private Limited.
2 Summary of significant accounting policies
Basis of Preparation of consolidated financial statements & Use of

a.
Estimates
The Consolidated financial statements of the Group have been

prepared in accordance with the generally accepted accounting
principles in India (Indian GAAP). The Consolidated financial
statements have been prepared on an accrual basis under the
historical cost convention. The accounting policies have been
consistently applied by the Company and are consistent with those
used in the previous year. The Group has prepared these
consolidated financial statements to comply in all material respects
with the accounting standards notified under Section 133 of the
Companies Act, 2013, read together with paragraph 7 of the
Companies (Accounts) Rules, 2014 and the other relevant
provisions of the Companies Act, 2013 & the Companies
(Accounting Standards) Amendment Rules, 2016.
The preparation of consolidated financial statements in conformity

with generally accepted accounting principles requires
management to make estimates and assumptions that affect the
reported amounts of assets and liabilities, income and expenditure
and disclosure of contingent liabilities at the date of the balance
sheet and the results of operations during the reporting period.
Although these estimates are based upon management’s best
knowledge of current events and actions, actual results could differ
from these estimates. Difference between the actual results and
estimates are recognized in the period in which the results are
known/ materialized.
The consolidated financial statements include the financial

statements of Blu-Smart Mobility Private Limited (‘the Company’),
its subsidiaries companies as described in Note No. 29 (collectively
referred to as ‘the Group’). The consolidated financial statements
b.
have been prepared on the basis of Accounting Standard 21,
‘Consolidated financial statements’, issued by the Institute of
Chartered Accountants of India. The consolidated financial
statements have been prepared on the following basis:
(i) The financial statements of the Company and its subsidiary

companies are combined on a line-by-line basis by adding together
62
the book value of like items of assets, liabilities, income and

expenses, after fully eliminating intra-group balances and
intra-group transactions resulting in unrealised profits or losses in
63
accordance with Accounting Standard-21 - "Consolidated financial

statements" issued by the Institute of Chartered Accountants of
India.
(ii) The difference between the cost of investment in the

subsidiaries, over the net assets at the time of acquisition of shares
in the subsidiaries is recognised in the consolidated financial
statements as Goodwill or Capital Reserve as the case may be.
(iii) As far as possible, the Consolidated financial statements are

prepared using uniform accounting policies for like transactions
and other events in similar circumstances and are presented in the
same manner as the Company''s separate consolidated financial
statements, except where it is not practicable to do so.
(iv) Intragroup balances and intragroup transactions are eliminated

to the extent of share of the parent company in full.
(v) Unrealised profits on account of intra group transactions have

been accounted for depending upon whether the transaction is an
upstream or a downstream transaction.
c. Current & Non- Current Classification
All the assets and liabilities have been classified as current or

non-current as per the Company’s normal operating cycle as 12
non-current
months and other criteria set out in Revised Schedule III to the
classification
Companies Act, 2013. Based on the nature of activities and time
of assets
between the activities performed and their subsequent realisation
and
in cash or cash equivalents, the company has ascertained its
liabilities.
operating cycle as 12 months for the purpose of current /
non-current classification of assets and liabilities.
d. Cash and Cash Equivalents
Cash comprises cash on hand and demand deposit with banks.

Cash equivalents are short-term balances (with an original Maturity
of three months or less from the date of acquisition), highly liquid
investments that are readily convertible into known amounts of
cash and which are subject to insignificant risk of changes in value.
Blu-Smart
Mobility
Private
Limited
Notes to the
consolidated
financial
statements
for the year
ended
March 31,
2021
e. Property plant and equipment and Intangible assets
64
Property plant and equipment are stated at cost of acquisition or

construction less accumulated depreciation / amortisation and
impairment losses, if any. The cost comprises of the purchase
price and any attributable cost of bringing the assets to its working
condition for its intended use.
Intangible assets acquired separately are measured on initial

recognition at cost. Following initial recognition, intangible assets
are carried at cost less accumulated amortization and accumulated
impairment losses, if any.
Intangible assets with finite lives are amortised over the useful
economic life and assessed for impairment whenever there is an
indication that the intangible asset may be impaired. The
amortisation period and the amortisation 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 are considered to modify the amortisation
period or method, as appropriate, and are treated as changes in
accounting estimates. The amortisation expense on intangible
assets with finite lives is recognised in the statement of profit and
loss unless such expenditure forms part of carrying value of
another asset.
Gains or losses arising from de recognition of an intangible asset

are measured as the difference between the net disposal proceeds
and the carrying amount of the asset and are recognised in the
statement of profit and loss when the asset is derecognised.
The useful life of Cab Booking Application is estimated as 5 years

and trademark is estimated as 10 years and accordingly amortised
on a straight line basis over its useful life.
f. Capital Work in Progress:
Capital work in progress includes the cost of fixed assets that are
not ready to use at the balance sheet date and advances paid to
acquire fixed assets before the balance sheet date.
g. Investment
Investments that are readily realisable and intended to be held for

not more than a year are classified as current investments. All
other investments are classified as long term investments.
Long-term investments are stated at cost. Provision for diminution

in the value of long-term investments is made only if such a decline
is other than temporary in the opinion of the management.
Current investments are carried at the lower of cost and fair value,
computed category wise.
h. Depreciation and amortisation
i) Depreciation on Property plant and equipment is calculated on

written down value method (WDV) using the rates arrived at based
on the Useful Life as specified in Schedule II of the Companies
65
Act, 2013.
Useful
Life/Amortization
Type of Assets
Period (In
Years)
Mobile 5
Furniture and Fixtures 10
Computer 3
Chargers 10
Vehicles 8
Office Equipment 5
Computer Software 5
ii) Depreciation on assets acquired / disposed off during the year is

provided on pro-rata basis with reference to the date of addition/
disposal.
i. Leases
Assets acquired under lease where the Company has substantially

all the risks and rewards incidental to ownership are classified as
finance lease. Such assets are capitalised at the inception of the
lease at the lower of the fair value or the present value of minimum
lease payments and a liability is created for an equivalent amount.
Each lease rental paid is allocated between the liability and the
interest cost, so as to obtain a constant periodic rate of interest on
the outstanding liability for each period.Assets acquired on leases
where a significant portion of the risks and rewards incidental to
ownership is retained by the lessor are classified as Operating
Lease. Lease rentals are charged to the Statement of Profitand
Loss on straight line basis. The Company''s significant leasing
arrangements are in respect of operating leases for premises. The
leasing arrangements which are not cancellable range between 11
months and five years generally, and are usually renewable by
mutual consent on agreed terms. The aggregate lease rentals
payable are charged as rent including lease rentals.
Blu-Smart
Mobility
Private
Limited
Notes to the
consolidated
financial
statements
for the year
66
ended
March 31,
2021
j. Revenue recognition
i) Revenue (income) is recognized when no significant uncertainty

as to the measurability or collectability exists. Revenues from
services are recognised immediately when the service is provided.
Sale of Goods is recognised when the significant risks and rewards
of ownership of the goods have passed to the buyer.
ii) Interest income is accounted for on an accrual basis.
k. Impairment of Assets
An asset is treated as impaired when the carrying cost of assets

exceeds its recoverable value. An impairment loss is charged to
the Statement of Expenses in the period in which an asset is
identified as impaired. The impairment loss, if any, recognized in
prior accounting periods is reversed if there has been a change in
the estimate of recoverable amount.
l. Employee Benefits
(i) Short Term Employee Benefits
Short term employee benefits are recognised as an expense on

accrual basis. Short term Project related employee benefits are
recognized as an expenses at the undiscounted amount in the
statement of profit and loss of the year in which the related service
is rendered.
(ii) Post Employee Benefits
a) Defined Benefit Plan: Gratuity being a defined benefit scheme is

accrued based on actuarial valuations, carried out by an
independent actuary as at the balance sheet date using the
projected unit credit method.
Actuarial gain and losses in respect of post employment and other

long term benefits are recognised as per actuarial assumptions in
the Statement of Profit and Loss in the period in which they arise.
b) Defined Contribution Plan : Provision is made for compensated

absence based on actuarial valuation, carried out by an
independent actuary as at the balance sheet date.
Group contribution to Provident Fund, Employees’ State Insurance

Fund and labour welfare fund which are defined contribution plans
determined under the relevant schemes and/or statute are charged
to the Statement of Profit and Loss when incurred. There are no
other obligations other than the contribution payable to the
respective funds.
67
Termination benefits, if any, are recognized as an expense as and

when incurred.
(ii) Employee Stock Options Outstanding
Certain employees (Senior Executives) of the Group receive

remuneration in the form of employee stock options, whereby
employees render services as consideration for equity instruments
(equity-settled transactions).
Equity-settled transactions
The cost of equity-settled transactions is determined by the fair

value at the date when the grant is made using an appropriate
valuation model.
Cost is recognised, together with a corresponding increase in

Employee stock optionsoutstanding , over the period in which the
performance and/or service conditions are fulfilled in employee
benefits expense. The cumulative expense recognised for
equity-settled transactions at each reporting date until the vesting
date reflects the extent to which the vesting period has expired and
the Group’s best estimate of the number of equity instruments that
will ultimately vest. The statement of profit and loss expense or
credit for a period represents the movement in cumulative expense
recognised as at the beginning and end of that period and is
recognised in employee benefits expense.
Service and non-market performance conditions are not taken into

account when determining the grant date fair value of awards, but
the likelihood of the conditions being met is assessed as part of the
Group’s best estimate of the number of equity instruments that will
ultimately vest. Market performance conditions are reflected within
the grant date fair value.
No expense is recognised for awards that do not ultimately vest

because non-market performance and/or service conditions have
not been met. Where awards include a market or non-vesting
condition, the transactions are treated as vested irrespective of
whether the market or non-vesting condition is satisfied, provided
that all other performance and/or service conditions are satisfied.
When the terms of an equity-settled award are modified, the

minimum expense recognised is the expense had the terms had
not been modified, if the original terms of the award are met. An
additional expense is recognised for any modification that
increases the total fair value of the share-based payment
transaction, or is otherwise beneficial to the employee as
measured at the date of modification.
Blu-Smart
Mobility
Private
Limited
Notes to the
consolidated
financial
statements
for the year
68
ended
March 31,
2021
m. Provisions, contingent liabilities and contingent assets
Provisions involving substantial degree of estimation in

measurements are recognised when there is a present obligation
as a result of past events and it is probable that there will be an
outflow of resources. Contingent Liabilities are not recognised but
are disclosed in the notes. Contingent Assets are neither
recognised nor disclosed in the consolidated financial statements.
n. Segment reporting
In accordance with Accounting Standard 17 “Segment Reporting”

as prescribed under Companies (Accounting Standards) Rules,
2006 (as amended ), the Company has determined its business
segment as providing customers with a platform & to enable
transactions of hiring of all types of cars and Software designing,
development, customization implementation maintenance. Since,
there are no other business segments in which the Company
operates; there are no other primary reportable segments.
Therefore the segment revenue, segment results, segment assets,
segment liabilities, total cost incurred to acquire segment assets,
depreciation charge are all as is reflected in the financial
statement.
o. Related Party transactions
Disclosure of transactions with related parties, as required by

Accounting Standard 18 of the Companies (Accounting Standards)
Rules, 2006 (as amended). “Related Party Disclosures” has been
set out in a separate statement annexed to this note. Related
parties as defined under the said Accounting Standard (as
amended) have been identified on the basis of representations
made by management and information available with the Group.
p. Earning Per Share
The Group reports basic and diluted earnings per share (EPS) in
accordance with the Accounting Standard 20 as specified in the
Companies (Accounting Standards) Rules, 2006 (as amended).
The Basic EPS has been computed by dividing the income
available to equity shareholders by the weighted average number
of equity shares outstanding during the accounting year. The
Diluted EPS has been computed using the weighted average
number of equity shares and dilutive potential equity shares
outstanding at the end of the year.
q. Taxes on Income
i) Provision for income tax is made on the basis of estimated

taxable income for the year at current rates.
Current Tax represents the amount of Income Tax Payable in

respect of the taxable income for the reporting period as
determined in accordance with the provisions of the Income Tax
Act, 1961.
69
ii) Deferred Tax
Deferred tax charge or credit is recognized using enacted or

substantially enacted rates at the Balance Sheet date. In case of
unabsorbed depreciation, deferred tax assets are recognized only
to the extent there is virtual certainty of realization of such assets.
Other deferred tax assets are recognized only to the extent there is
reasonable certainty of realization of income in future. Such assets
are reviewed as at each balance sheet date to reassess
realization.
Though other Accounting Standards also apply to the Group by

virtue of the Companies (Accounting Standards) Rules 2006 (as
r. amended), no disclosure for the same is being made as the Group
has not done any transaction to which the said Accounting
Standard apply.
[201700] Notes - Government grants

01/04/2021 01/04/2020
to to
31/03/2022 31/03/2021
Disclosure of notes on government grants explanatory [TextBlock]
Capital subsidies or grants received from government authorities 0 0
Revenue subsidies or grants received from government authorities 0 0
[201200] Notes - Employee benefits

01/04/2021 01/04/2020
to to
31/03/2022 31/03/2021
Textual information (12) Textual information (13)
Disclosure of employee benefits explanatory [TextBlock] [See below] [See below]
70
Disclosure of employee benefits explanatory [Text Block]

39 Employee benefit plans
(A) Defined benefit plan
(i) Actuarial gains and
losses in respect of defined
benefit plans are
recognised in the Profit
and Loss Account.
(ii) The Defined Benefit
Plan comprises of Gratuity
a) Gratuity is a benefit to
an employee based on 15
days last drawn basic
salary including dearness
allowance (if any) for each
completed year of
continuous service with
part thereof in excess of
six months. The plan is
unfunded. The Company
operates a defined benefit
plan (the Gratuity plan)
covering eligible
employees, which provides
a lump sum payment to
vested employees at
retirement, death,
incapacitation or
termination of employment,
of an amount based on the
respective employee’s
salary and the tenure of
employment.
The details of gratuity as
required under AS-15
(revised):
For the For the
year ended year
ended
March 31, March
2022 31, 2021
i. Reconciliation of Opening
and Closing Balances of
defined benefit obligation
Liability at the beginning of
17.68 5.14
the year
Current Service Cost 17.04 10.77
Interest Cost 1.37 0.34
Past Service Cost - -
Liability Transferred in - -
Liability Transferred out - -
Benefit paid - -
Net Actuarial losses (gain)
-3.40 1.43
Recognised
Liability at the end of the
32.69 17.68
year
ii. Reconciliation of
Opening and Closing
Balances of the Fair value
of Plan assets
Plan assets at the
71
beginning of the year, at - -

Fair value
Expected return on plan
--
assets
Contributions - -
Benefit paid - -
Actuarial gain/(loss) on
- -
plan assets
Transfer to other Company - -
Plan assets at the end of
- -
the year, at Fair Value
iii. Reconciliation of the
Present value of defined
benefit obligation and Fair
value of plan assets
Obligations at the end of
32.69 17.68
the year
-
the year, at Fair value
Asset/(Liability) recognized
in balance sheet as at the -32.69 -17.68
end of the year
iv. Gratuity Cost for the
year
Current service cost 17.04 10.77
Interest cost 1.37 0.34
--
assets
Actuarial Gain or (Loss) -3.40 1.43
Recognised Past Service
- -
Cost-Vested
- -
Cost-Unvested
Net Gratuity cost 15.01 12.54
v. Actuarial assumptions
Discount Rate (per annum) 6.95% 6.35%
Expected rate of return on
NA NA
plan assets
10.00%
p.a for
next 1
Annual Increase in Salary
8% p.a. years &
Cost
8.00%
p.a
thereafter
20% at
20% at
younger
younger
ages
ages
Withdrawal Rates reducing
reducing to
to 1% at
1% at older
older
ages
ages
Indian Indian
Assured Assured
Lives Lives
Mortality
Mortality Mortality
(2012-14) (2012-14)
Table Table
Retirement Age 60 Years 60 Years
Project
Project
Unit
Actuarial Valuation Method Unit Credit
Credit
Method
Method
Notes
72
(a) The discount rate is

1 based on the benchmark
yields available on
Government Bonds as at
the Balance Sheet date.
(b) The Management’s
estimate of the increases in
the salaries of the
employees over the long
term. Estimated future
salary increases should
take account of inflation,
seniority, promotion and
other relevant factors such
as supply and demand in
employment market.
2 Defined contribution plan
Contribution to Defined
Contribution plans,
recognised as Expense, for
the year is as under :
For the For the
year ended year
ended
March 31, March
2022 31, 2021
Employer's Contribution to
Provident Fund & Other 22.48 22.11
Funds
22.48 22.11
3 Experience adjustments
For the For the
year ended year
ended
March 31, March
2022 31, 2021
Defined Benefit Obligation 44.63 15.37
Plan Assets - -
Surplus/(Deficit) (44.63) (15.37)
Experience adjustments on
(1.52) (1.22)
plan liabilities
Actuarial loss/(gain) due to
change in financial (1.88) 0.71
assumptions
Actuarial loss/ (gain) due to
change in demographic - (0.001)
assumption
- -
plan assets
Net actuarial loss/ (gain) for
(3.40) (0.51)
the year
Employee Stock Options
40
Outstanding
Employee Stock Option
Scheme 2021 namely “Blu
Smart ESOS 2021” was
adopted by the Board of
Directors. Under the
Blu-Smart ESOS 2021, the
Company granted new
stock options (‘New
Options’) to the eligible
employees of Company
including employees of
subsidiaries as determined
by the Board as its absolute
73
discretion and separate

ESOS agreement has been
entered whenever options
are issued to the
(i)
74
employees. The ESOS

2021 policy would succeed
the ESOS 2019 policy.
The fair value of the share
options is estimated at the
grant date using the Black-
Scholes option pricing
model, taking into account
the terms and conditions
upon which the share
(ii)
options were granted.
However, the above
performance condition is
only considered in
determining the number of
instruments that will
ultimately vest.
Options Granted under
ESOS 2021 would Vest in
accordance to the
provisions of the ESOS
Agreement, subject to a
minimum period of one year
between the Grant of
Options and Vesting of
Options. Vesting of Options
would be a function of
continued employment with
(iii)
the Company (passage of
time) and achievement of
performance criteria as
specified by the Board as
communicated on Grant of
Options.There are no cash
settlement alternatives. The
Company does not have a
past practice of cash
settlement for these share
options.
The expense recognised for
employee services received
during the year is shown in
the following table:
As at As at
March 31, March
2022 31, 2021
Expense arising from
equity-settled share-based 51 165
payment transactions
Total expense arising from
share-based payment 51 165
transactions
Movements during the year
The following table
illustrates the number and
weighted average exercise
prices (WAEP) of, and
movements in, share
options during the year:
As at As at
31-03-2022 31-03-2021
Numbers WAEP Numbers WAEP
Outstanding at the
84,464 116.55 - -
beginning of the year
Granted pursuant to Blu
Smart ESOS Scheme 25,962 516.31 84,464 116.55
2019
Smart ESOS Scheme 25,000 1,100.00
75
2021
Exercised during the year - 0 - -
Expired/ lapsed during the
2,400 410.00 - -
year
Outstanding at the end of
1,33,026 374.10 84,464 116.55
the year
Exercisable at the end of
- - - -
the year
The weighted average fair
value of options granted
during the year was Rs.
410/- (March 31, 2020: Rs.
410/-).
The range of exercise
prices for options
outstanding at the end of
the year is Rupees 10/-
each option to Rupees
1100/- each option (March
2021: Rupees 10/- to Rs.
410/- each option ).
The following table list the
inputs to the models used
for the plan for the year
ended December 31, 2021
and March 31, 2020:
Grant 1 Grant 2 Grant 3 Grant 4 Grant 5 Grant 6
Dividend yield (%) 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Volatility (%) 16.02% 19.20% 35% 35% 35% 35%
5.34% - 3.40% -
Risk–free interest rate (%) 5% 5% 5% 5%
5.99% 4.75%
Average expected life of
4.20 4.20 3 3 3 3
options (years)
Weighted average share
410 410 410 410 1100 1100
price (Rupees) for each
Black
Black Black Black Black Black
Scholes
Model used Scholes Scholes Scholes Scholes Scholes
Model Model Model Model Model
Model
76
Disclosure of employee benefits explanatory [Text Block]
Employee
38
benefit plans
(A) Defined
benefit plan
(i) Actuarial
gains and losses
in respect of
defined benefit
plans are
recognised in the
Profit and Loss
Account.
(ii) The Defined

Benefit Plan
comprises of
Gratuity
a) Gratuity is a
benefit to an
employee based
on 15 days last
drawn basic
salary including
dearness
allowance (if
any) for each
completed year
of continuous
service with part
thereof in excess
of six months.
The plan is
unfunded. The
Company
operates a
defined benefit
plan (the Gratuity
plan) covering
eligible
employees,
which provides a
lump sum
payment to
vested
employees at
retirement,
death,
incapacitation or
termination of
employment, of
an amount
based on the
respective
employee’s
salary and the
tenure of
employment.
77
The details of
gratuity as (Amount in
required under Rs.)
AS-15 (revised):
For the year For the year

endedMarch endedMarch
31, 2021 31, 2020
i. Reconciliation
of Opening and
Closing
Balances of
defined benefit
obligation
Liability at the
beginning of the 5,14,239 84,830
year
Current Service
10,77,248 5,07,806
Cost
Interest Cost 33,904 6,440
Past Service
- -
Cost
Liability
- -
Transferred in
Liability
- -
Transferred out
Benefit paid - -
Net Actuarial
losses (gain) 1,43,083 -84,837
Recognised
Liability at the
17,68,474 5,14,239
end of the year
ii. Reconciliation
of Opening and
Closing
Balances of the
Fair value of
Plan assets
Plan assets at
the beginning of
- -
the year, at Fair
value
78
Expected return
- -
on plan assets
Contributions - -
Benefit paid - -
Actuarial
gain/(loss) on - -
plan assets
Transfer to other
- -
Company
Plan assets at
the end of the
- -
year, at Fair
Value
iii. Reconciliation
of the Present
value of defined
benefit obligation
and Fair value of
plan assets
Obligations at
the end of the 17,68,474.00 5,14,239.00
year
Plan assets at
the end of the
- -
year, at Fair
value
Asset / (Liability)
recognized in
balance sheet as (17,68,474) (5,14,239)
at the end of the
year
iv. Gratuity Cost

for the year
Current service
10,77,248 5,07,806
cost
Interest cost 33,904 6,440
Expected return
- -
on plan assets
Actuarial Gain or
1,43,083 (84,837)
(Loss)
79
Recognised Past
Service - -
Cost-Vested
Recognised Past
Service - -
Cost-Unvested
Net Gratuity cost 12,54,235 4,29,409
v. Actuarial
assumptions
Discount Rate
6.35% 6.60%
(per annum)
Expected rate of
return on plan NA NA
assets
10.00% p.a 10.00% p.a

for next 1 for next 2
Annual Increase
years & years &
in Salary Cost
8.00% p.a 8.00% p.a
thereafter thereafter
20% at
younger
ages
Withdrawal
reducing
Rates
to 1% at
older
ages
Indian
Assured
Lives
Mortality
Mortality
(2006-08)
Table
Actuarial Project Unit Project Unit

Valuation Credit Credit
Method Method Method
Notes
(a) The discount

rate is based on
the benchmark
yields available
1
on Government
Bonds as at the
Balance Sheet
date.
80
(b) The
Management’s
estimate of the
increases in the
salaries of the
employees over
the long
term.Estimated
future salary
increases
should take
account of
inflation,
seniority,
promotion and
other relevant
factors such as
supply and
demand in
employment
market.
Blu-Smart
Mobility
Private
Limited
Notes to the
consolidated
financial
statements
for the year
ended
March 31,
2021
Defined (Amount in
2
contribution plan Rs.)
Contribution to
Defined
Contribution
plans,
recognised as
Expense, for the
year is as under
:
For the For the

period period
31, 2020 31, 2020
Employer''s
Contribution to
22,11,113 6,14,535
Provident Fund
& Other Funds
22,11,113 6,14,535
Experience
81
3 adjustments

31, 2021 31, 2020
Defined Benefit
15,37,185 5,14,239
Obligation
Plan Assets - -
Surplus/(Deficit) (15,37,185) (5,14,239)
Experience
adjustments on (1,22,007) (1,62,376)
plan liabilities
Actuarial
loss/(gain) due
to change in 71,267 53,714
financial
assumptions
Actuarial loss/
(gain) due to
change in (120) (215)
demographic
assumption
Experience
adjustments on - -
plan assets
Net actuarial
loss/ (gain) for (50,860) (1,08,877)
the year
[300400] Notes - Employee share-based payments

01/04/2021 01/04/2020
to to
31/03/2022 31/03/2021
Disclosure of notes on employee share-based payment arrangements explanatory Textual information (14) Textual information (15)
[TextBlock] [See below] [See below]
82
Disclosure of notes on employee share-based payment arrangements explanatory [Text Block]

39 Employee benefit plans
(A) Defined benefit plan
(i) Actuarial gains and
losses in respect of defined
benefit plans are
recognised in the Profit
and Loss Account.
(ii) The Defined Benefit
Plan comprises of Gratuity
a) Gratuity is a benefit to
an employee based on 15
days last drawn basic
salary including dearness
allowance (if any) for each
completed year of
continuous service with
part thereof in excess of
six months. The plan is
unfunded. The Company
operates a defined benefit
plan (the Gratuity plan)
covering eligible
employees, which provides
a lump sum payment to
vested employees at
retirement, death,
incapacitation or
termination of employment,
of an amount based on the
respective employee’s
salary and the tenure of
employment.
The details of gratuity as
required under AS-15
(revised):
For the For the
year ended year
ended
March 31, March
2022 31, 2021
i. Reconciliation of Opening
and Closing Balances of
defined benefit obligation
Liability at the beginning of
17.68 5.14
the year
Current Service Cost 17.04 10.77
Interest Cost 1.37 0.34
Past Service Cost - -
Liability Transferred in - -
Liability Transferred out - -
Benefit paid - -
Net Actuarial losses (gain)
-3.40 1.43
Recognised
Liability at the end of the
32.69 17.68
year
ii. Reconciliation of
Opening and Closing
Balances of the Fair value
of Plan assets
Plan assets at the
83
beginning of the year, at - -

Fair value
--
assets
Contributions - -
Benefit paid - -
Actuarial gain/(loss) on
- -
plan assets
Transfer to other Company - -
- -
the year, at Fair Value
iii. Reconciliation of the
Present value of defined
benefit obligation and Fair
value of plan assets
Obligations at the end of
32.69 17.68
the year
-
the year, at Fair value
Asset/(Liability) recognized
in balance sheet as at the -32.69 -17.68
end of the year
iv. Gratuity Cost for the
year
Current service cost 17.04 10.77
Interest cost 1.37 0.34
--
assets
Actuarial Gain or (Loss) -3.40 1.43
- -
Cost-Vested
- -
Cost-Unvested
Net Gratuity cost 15.01 12.54
v. Actuarial assumptions
Discount Rate (per annum) 6.95% 6.35%
Expected rate of return on
NA NA
plan assets
10.00%
p.a for
next 1
Annual Increase in Salary
8% p.a. years &
Cost
8.00%
p.a
thereafter
20% at
20% at
younger
younger
ages
ages
Withdrawal Rates reducing
reducing to
to 1% at
1% at older
older
ages
ages
Indian Indian
Assured Assured
Lives Lives
Mortality
Mortality Mortality
(2012-14) (2012-14)
Table Table
Project
Project
Unit
Actuarial Valuation Method Unit Credit
Credit
Method
Method
Notes
84
(a) The discount rate is

1 based on the benchmark
yields available on
Government Bonds as at
the Balance Sheet date.
(b) The Management’s
estimate of the increases in
the salaries of the
employees over the long
term. Estimated future
salary increases should
take account of inflation,
seniority, promotion and
other relevant factors such
as supply and demand in
employment market.
2 Defined contribution plan
Contribution to Defined
Contribution plans,
recognised as Expense, for
the year is as under :
For the For the
year ended year
ended
March 31, March
2022 31, 2021
Employer's Contribution to
Provident Fund & Other 22.48 22.11
Funds
22.48 22.11
3 Experience adjustments
For the For the
year ended year
ended
March 31, March
2022 31, 2021
Defined Benefit Obligation 44.63 15.37
Plan Assets - -
Surplus/(Deficit) (44.63) (15.37)
(1.52) (1.22)
plan liabilities
Actuarial loss/(gain) due to
change in financial (1.88) 0.71
assumptions
Actuarial loss/ (gain) due to
change in demographic - (0.001)
assumption
- -
plan assets
Net actuarial loss/ (gain) for
(3.40) (0.51)
the year
Employee Stock Options
40
Outstanding
Employee Stock Option
Scheme 2021 namely “Blu
Smart ESOS 2021” was
adopted by the Board of
Directors. Under the
Blu-Smart ESOS 2021, the
Company granted new
stock options (‘New
Options’) to the eligible
employees of Company
including employees of
subsidiaries as determined
by the Board as its absolute
85
discretion and separate

ESOS agreement has been
entered whenever options
are issued to the
(i)
86
employees. The ESOS

2021 policy would succeed
the ESOS 2019 policy.
The fair value of the share
options is estimated at the
grant date using the Black-
Scholes option pricing
model, taking into account
the terms and conditions
upon which the share
(ii)
options were granted.
However, the above
performance condition is
only considered in
determining the number of
instruments that will
ultimately vest.
Options Granted under
ESOS 2021 would Vest in
accordance to the
provisions of the ESOS
Agreement, subject to a
minimum period of one year
between the Grant of
Options and Vesting of
Options. Vesting of Options
would be a function of
continued employment with
(iii)
the Company (passage of
time) and achievement of
performance criteria as
specified by the Board as
communicated on Grant of
Options.There are no cash
settlement alternatives. The
Company does not have a
past practice of cash
settlement for these share
options.
The expense recognised for
employee services received
during the year is shown in
the following table:
As at As at
March 31, March
2022 31, 2021
Expense arising from
equity-settled share-based 51 165
payment transactions
Total expense arising from
share-based payment 51 165
transactions
Movements during the year
The following table
illustrates the number and
weighted average exercise
prices (WAEP) of, and
movements in, share
options during the year:
As at As at
31-03-2022 31-03-2021
Outstanding at the
84,464 116.55 - -
beginning of the year
Smart ESOS Scheme 25,962 516.31 84,464 116.55
2019
Smart ESOS Scheme 25,000 1,100.00
87
2021
Exercised during the year - 0 - -
Expired/ lapsed during the
2,400 410.00 - -
year
Outstanding at the end of
1,33,026 374.10 84,464 116.55
the year
Exercisable at the end of
- - - -
the year
The weighted average fair
value of options granted
during the year was Rs.
410/- (March 31, 2020: Rs.
410/-).
The range of exercise
prices for options
outstanding at the end of
the year is Rupees 10/-
each option to Rupees
1100/- each option (March
2021: Rupees 10/- to Rs.
410/- each option ).
The following table list the
inputs to the models used
for the plan for the year
ended December 31, 2021
and March 31, 2020:
Grant 1 Grant 2 Grant 3 Grant 4 Grant 5 Grant 6
Dividend yield (%) 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Volatility (%) 16.02% 19.20% 35% 35% 35% 35%
5.34% - 3.40% -
Risk–free interest rate (%) 5% 5% 5% 5%
5.99% 4.75%
Average expected life of
4.20 4.20 3 3 3 3
options (years)
Weighted average share
410 410 410 410 1100 1100
price (Rupees) for each
Black
Black Black Black Black Black
Scholes
Model used Scholes Scholes Scholes Scholes Scholes
Model Model Model Model Model
Model
88
Disclosure of notes on employee share-based payment arrangements explanatory [Text Block]
Employee Stock Option Scheme 2019 namely “Blu

Smart ESOS 2019” was adopted by the Board of
Directors . Under the Blu-Smart ESOS 2019, the
Company granted new stock options (‘New Options’) to
(i)
the eligible employees of Company as determined by
the Board as its absolute discretion and separate ESOS
agreement has been entered whenever options are
issued to the employees.
The fair value of the share options is estimated at the

grant date using the Black- Scholes option pricing
model, taking into account the terms and conditions
(ii) upon which the share options were granted. However,
the above performance condition is only considered in
determining the number of instruments that will
ultimately vest.
Options Granted under ESOS 2019 would Vest in

accordance to the provisions of the ESOS Agreement,
subject to a minimum period of one year between the
Grant of Options and Vesting of Options. Vesting of
Options would be a function of continued employment
(iii)
with the Company (passage of time) and achievement of
performance criteria as specified by the Board as
communicated on Grant of Options. . There are no cash
settlement alternatives. The Company does not have a
past practice of cash settlement for these share options.
The expense recognised for employee services received

during the year is shown in the following table:
As At
As At
March
March
31,
31, 2021
2020
Expense arising
from
equity-settled
1,65,02,790 -
share-based
payment
transactions
Total expense
arising from
share-based 1,65,02,790 -
payment
transactions
Movements
during the year
The following
table illustrates
the number and
89
weighted average
exercise prices
(WAEP) of, and
90
movements in,
share options
during the year:
As At
As At
March
March
31,
31, 2021
2020
Outstanding at
the beginning of - - --
the year
Granted pursuant
to Blu Smart
84,464 116.55 - -
ESOS Scheme
2019
Exercised during
- -- -
the year
Expired/ lapsed
- - --
during the year
Outstanding at
the end of the 84,464 116.55 - -
year
Exercisable at the
- - --
end of the year
The weighted average fair value of options granted during the year was Rs. 410/-
(March 31, 2020: Rs. 410/-).
The range of exercise prices for options outstanding at the end of the year is Rupees
10/- each option to Rupees 410/- each option (March 2020: Rupees 10/- each option
).
The following table list the inputs to the models used for the plan for the year ended
March 31, 2021 and March 31, 2020:
Grant Grant
1 2
Dividend yield (%) 0.00% 0.00%
Volatility (%) 16.02% 19.20%
5.34% - 3.40% -
Risk–free interest rate (%)
5.99% 4.75%
91
Weighted average share price (Rupees) for each 410 410
Black Black
Model used Scholes Scholes
Model Model
[201600] Notes - Related party
Disclosure of relationship and transactions between related parties [Table] ..(1)

Categories of related parties [Axis] 1 2
01/04/2021 01/04/2020 01/04/2021 01/04/2020
to to to to
31/03/2022 31/03/2021 31/03/2022 31/03/2021
Disclosure of relationship and transactions between
related parties [Abstract]
related parties [LineItems]
Name of related party Puneet Singh Jaggi Puneet Singh Jaggi Anmol Singh Jaggi Anmol Singh Jaggi
Country of incorporation or residence of related
party
Permanent account number of related party AHRPJ5583B AHRPJ5583B AGNPJ4504B AGNPJ4504B
Key Management Key Management Key Management Key Management
Description of nature of related party relationship Personnel Personnel Personnel Personnel
Description of nature of transactions with related Remuneration & Remuneration &
Other Payable Other Payable
party Other Payable Other Payable
Transaction relating to key management personnel
[Abstract]
Remuneration for key managerial personnel 0 0 4.47 7.08
Outstanding balances for related party
transactions [Abstract]
Amounts payable related party transactions 4.21 1.54 8.12 0.53
Amount written off during period in respect
0 0 0 0
of debts due from related parties
Amount written back during period in respect
0 0 0 0
of debts due to related parties
92

01/04/2021 01/04/2020 01/04/2021 01/04/2020
to to to to
31/03/2022 31/03/2021 31/03/2022 31/03/2021
TAPESH TAPESH
GENSOL ENGINEERING GENSOL ENGINEERING
Name of related party MEGHRAJ MEGHRAJ
LIMITED LIMITED
SHARMA SHARMA
Country of incorporation or residence of related
party
Permanent account number of related party BRWPS7598R BRWPS7598R
CIN of related party L74210GJ2012PLC129176 L74210GJ2012PLC129176
Enterprises which are Enterprises which are
owned, or have significant owned, or have significant
Key Management Key Management influence of or are partners influence of or are partners
Description of nature of related party relationship Personnel Personnel with Key management with Key management
personnel and their personnel and their
relatives relatives
Lease rent deposit, Other Lease rent deposit, Other
Description of nature of transactions with related
Remuneration Remuneration receivables, other payables receivables, other payables
party & Creditors & Creditors
Related party transactions [Abstract]
Other related party transactions expense 2,734.58 231.54
Transaction relating to key management personnel
[Abstract]
Remuneration for key managerial personnel 0.54 0.47
Outstanding balances for related party
Amounts payable related party transactions 2.47 15.42
Amounts receivable related party transactions 0.02 0
Amount written off during period in respect
0 0 0 0
Amount written back during period in respect
0 0 0 0
93

01/04/2021 01/04/2020 01/04/2021 01/04/2020
to to to to
31/03/2022 31/03/2021 31/03/2022 31/03/2021
Disclosure of relationship and
transactions between
Disclosure of relationship and
transactions between
GENSOL CONSULTANTS GENSOL CONSULTANTS GENSOL VENTURES GENSOL VENTURES
Name of related party PRIVATE LIMITED PRIVATE LIMITED PRIVATE LIMITED PRIVATE LIMITED
Country of incorporation or
residence of related INDIA INDIA INDIA INDIA
party
CIN of related party U74140HR2007PTC036685 U74140HR2007PTC036685 U74999GJ2017PTC096539 U74999GJ2017PTC096539
Description of nature of related influence of or are partners influence of or are partners
influence of or are partners influence of or are partners
party relationship with Key management with Key management
with Key management with Key management
personnel and their relatives personnel and their relatives
relatives relatives
Description of nature of
Lease rent deposit and Lease rent deposit and Lease rent deposit and Lease rent deposit and
transactions with related Creditors Creditors Creditors Creditors
party
Related party transactions
[Abstract]
Other related party transactions
792.76 216 130.57 60
expense
Outstanding balances for related
party
Amounts payable related party
2.04 19.5 0 12.74
transactions
Amount written off during period
in respect 0 0 0 0
Amount written back during period
in respect 0 0 0 0

Categories of related parties [Axis] 7
01/04/2021 01/04/2020
to to
31/03/2022 31/03/2021
Disclosure of relationship and transactions between related parties [Abstract]
Disclosure of relationship and transactions between related parties [LineItems]
PARAM RENEWABLE PARAM RENEWABLE
Name of related party ENERGY PRIVATE ENERGY PRIVATE
LIMITED LIMITED
Country of incorporation or residence of related party INDIA INDIA
CIN of related party U74999GJ2019PTC105888 U74999GJ2019PTC105888
influence of or are partners influence of or are partners
Description of nature of related party relationship with Key management with Key management
relatives relatives
Description of nature of transactions with related party Lease rent deposit Lease rent deposit
Related party transactions [Abstract]
Other related party transactions expense 102.23 0
Amount written off during period in respect of debts due from related parties 0 0
Amount written back during period in respect of debts due to related parties 0 0
94

01/04/2021 01/04/2020
to to
31/03/2022 31/03/2021
Disclosure of notes on related party explanatory [TextBlock] [See below] [See below]
Whether there are any related party transactions during year Yes Yes
Whether company is subsidiary company No No
95
Disclosure of notes on related party explanatory [Text Block]

38 Related party disclosures
Related party disclosures as required by Accounting Standard 18, ”Related Party Disclosures”.
(A) List of related parties and relationships:
Director of Group with whom transactions have been taken place
Anmol Singh Jaggi
Relative of Director
Puneet Singh Jaggi
Key Managerial Personnel ("KMP")
Tapesh Sharma (Company Secretary)
Subsidiary Companies (Refer Note : 29)
Blu-Smart Fleet Private Limited (100% subsidiary w.e.f May 13, 2019)
Blu-Smart Mobility Tech Private Limited (100% subsidiary w.e.f May 13, 2019)
Blu-Smart Charge Private Limited (100% subsidiary w.e.f May 13, 2019)
Other related parties
Enterprises over which Key Managerial Personnel are able to exercise significant influence / control with whom
transactions have been taken place
Gensol Consultants Private Limited
Gensol Ventures Private Limited
Gensol Engineering Limited
Param Renewable Energy Private Limited
(B)
Transactions
with related
parties for
the year
ended
March 31,
2022
Lease
Nature of Remuneration Purchase of Reimbursement Lease Rent Rent
Rent
Relationship paid goods/services Expense Expenses Income Expenses
Deposit
Anmol
Director 60.00 - - - - - -
Singh Jaggi
(60.00) - - - - - - - -
Puneet
Director - - - - - - -
Singh Jaggi
- - - - - - - - -
Tapesh Company
6.39 - - - - - -
Sharma Secretary
(3.19) - - - - - - - -
Gensol
Group
Engineering - 590.16 - 419.32 0.02 0.60 2,503.04
Company
Limited
- (3.55) - (320.48) - (0.60) (23.61) - -
Gensol
Consultants Group
- 1.71 - 393.92 - - 646.96
Private Company
Limited
- - - (167.88) - - - (118.80) -
Gensol
Ventures Group
Private - - - 124.79 - - 70.57
Company
96
Limited
- - - (11.07) - - (60.00) - (0.05)
Param
Renewable
Group
Energy - - - 14.66 - - 102.23
Company
Private
Limited
- (164.20) - - - - - - -
Figures in
brackets
indicates
figures of
previous
year.
(C) Closing
Balance
with related
parties as
at March
31, 2022 :
Loans & Loans &
Nature of Remuneration Lease rent Other Other
Advances Advances Creditors
Relationship payable Deposit Receivables Payable
Given Received
Anmol
Director 4.47 - - - - 8.12 -
Singh Jaggi
-7.08 - - - - -0.53 -
Puneet
Director - - - - - 4.21 -
Singh Jaggi
- - - - - -1.54 -
Tapesh Company
0.54 - - - - - -
Sharma Secretary
-0.47 - - - - - -
Gensol
Group
Engineering - - 2,734.58 0.02 - - 2.47
Company
Limited
- - -231.54 - - -0.16 -15.26
Gensol
Consultants Group
- - 792.76 - - - 2.04
Private Company
Limited
- - -216.00 - - - -19.50
Param
Renewable
Group
Energy - - 102.23 - - - -
Company
Private
Limited
- - - - - - -
Gensol
Ventures Group
- - 130.57 - - - -
Private Company
Limited
- - -60.00 - - - -12.74
Figures in
brackets
indicates
figures of
previous
year.
97
Disclosure of notes on related party explanatory [Text Block]
Anmol Singh Jaggi
Puneet Singh Jaggi
Manoj Maganlal Mehta
Senthil Kumaran
Inderpreet Singh Wadhwa
Giri Krishnaswamy
Jasminder Kaur
98
Anmol Singh Jaggi
Puneet Singh Jaggi
Senthil Kumaran
Giri Krishnaswamy
Jasminder Kaur
99
Anmol Singh Jaggi
Puneet Singh Jaggi
Senthil Kumaran
Giri Krishnaswamy
Jasminder Kaur
100
(B)
Transactions
with related
parties for (Amount
the year in Rs.)
ended
March 31,
2021
Finance
Reversal of charges Loan &
Nature of Remuneration Purchase of Lease Rent Lease Rent
Lease Rent on loan Advance
Relationship paid goods/services Expenses Expenses Deposit
Deposit and Given
advances
Anmol Singh
Director 60,00,000 - - - - - - 99,15,415
Jaggi
(20,00,000) - - - - - - (17,52,454)
Puneet
Director - - - - - - - 1,67,00,823
Singh Jaggi
- - - - - - - (1,57,51,100)
Jasminder Relative of
- - - - - - - -
Kaur Director
- - - - - - - (12,35,000)
Tapesh Company
3,18,763 - - - - - - -
Sharma Secretary
- - - - - - - -
Gensol
Group
Engineering - 3,55,332 3,20,47,523 60,000 23,61,446 - - -
Company
Limited
- - (4,26,50,451) (60,000) (2,07,92,802) - - (500)
101
Gensol
Consultants Group
- - 1,67,87,520 - - 1,18,80,000 - -
Private Company
Limited
- - (14,98,335) - (3,34,80,000) - - -
Gensol
Ventures Group
- - - 11,06,751 60,00,000 - 4,898 2,63,381
Private Company
Limited
- - - - - - (1,31,923) (50,25,000)
Param
Renewable
Group
Energy - 1,64,20,000 - - - - - -
Company
Private
Limited
- - - - - - - -
Figures in
brackets
indicates
figures of
previous
year.
(C) Closing
Balance with
related
parties as at
March 31,
2021 :
Loans & Loans &

Nature of Remuneration Lease rent Other
Advances Advances Creditors
Relationship payable Deposit Payable
Given Received
Anmol Singh
Director 7,08,316 - - - 53,428 -
Jaggi
- - - (1,98,832) (8,53,830) -
Puneet
Director - - - - 1,54,417 -
Singh Jaggi
- - - - (5,82,431) -
Tapesh Company
47,385 - - - - -
Sharma Secretary
- - - - - -
102
Gensol
Group
Engineering - - 2,31,54,248 - 15,737 15,26,006
Company
Limited
- - (2,07,92,802) - - (2,08,162)
Gensol
Consultants Group
- - 2,16,00,000 - - 19,49,737
Private Company
Limited
- - (3,34,80,000) - - (6,43,285)
Gensol
Ventures Group
- - 60,00,000 - - 12,73,528
Private Company
Limited
- - - (1,31,923) - -
Figures in
brackets
indicates
figures of
previous
year.
[201400] Notes - Leases

01/04/2021 01/04/2020
to to
31/03/2022 31/03/2021
Disclosure of leases explanatory [TextBlock]
Whether any operating lease has been converted to financial lease or
No No
vice-versa
[300300] Notes - Earnings per share

01/04/2021 01/04/2020
to to
31/03/2022 31/03/2021
Disclosure of earnings per share explanatory [TextBlock]
Weighted average shares and adjusted weighted average shares [Abstract]
Basic weighted average shares [shares] 21,44,246 [shares] 15,01,737
Adjusted weighted average shares [shares] 21,44,246 [shares] 15,01,737
Diluted weighted average shares [shares] 30,29,805 [shares] 22,91,597
Adjustments of numerator to calculate basic earnings per share [Abstract]
Adjustments of numerator to calculate diluted earnings per share [Abstract]
103
[202600] Notes - Consolidated financial statements
Disclosure of details of subsidiaries [Table] ..(1)

Subsidiaries [Axis] 1 2 3
01/04/2021 01/04/2021 01/04/2021
to to to
31/03/2022 31/03/2022 31/03/2022
Disclosure of details of subsidiaries [Abstract]
Disclosure of details of subsidiaries [LineItems]
BLU-SMART BLU-SMART
BLU-SMART
CHARGE MOBILITY TECH
Name of subsidiary consolidated PRIVATE
FLEET PRIVATE
PRIVATE
LIMITED
LIMITED LIMITED
Country of incorporation or residence of subsidiary consolidated INDIA INDIA INDIA
Proportion of ownership interest in subsidiary consolidated 100.00% 100.00% 10.00%
Proportion of voting power held in subsidiary consolidated 100.00% 100.00% 100.00%
Description of nature of relationship with subsidiary
where parent has directly or indirectly less than half Not Applicable Not Applicable Not Applicable
of voting power
Effect of acquisition or disposal of subsidiary [Abstract]
Effect on financial position on acquisition or disposal 0 0 0
Effect on results for reporting period on acquisition or
0 0 0
disposal
Effect on results for corresponding previous period on
0 0 0
acquisition or disposal
Disclosure of details of entities consolidated [Table] ..(1)

Entities consolidated [Axis] 1 2 3
01/04/2021 01/04/2021 01/04/2021
to to to
31/03/2022 31/03/2022 31/03/2022
Disclosure of additional information consolidated financial statements
[Abstract]
Disclosure of additional information consolidated financial
statements [LineItems]
BLU-SMART BLU-SMART
BLU-SMART
CHARGE MOBILITY TECH
Name of entity consolidated PRIVATE
FLEET PRIVATE
PRIVATE
LIMITED
LIMITED LIMITED
Type of entity consolidated Indian Subsidiary Indian Subsidiary Indian Subsidiary
Amount of net assets of entity consolidated 563.09 3,097.25 250.06
Net assets of entity as percentage of consolidated net assets 14.40% 79.21% 6.39%
Amount of share in profit or loss of entity consolidated -3,286.4 -2,578.12 -67.72
Share in profit or loss of entity as percentage of
55.40% 43.46% 1.14%
consolidated profit or loss

01/04/2021
to
31/03/2022
Disclosure of notes on consolidated financial statements explanatory
[TextBlock]
Whether consolidated financial statements is applicable on company Yes
Description of reason for not consolidating subsidiary Not Applicable
Description of fact that uniform accounting policies are not adopted for
Not Applicable
consolidated financial statements
Proportion of items in consolidated financial statements to which
0.00%
different accounting policies have been applied
Disclosure of details of subsidiaries explanatory [TextBlock]
Disclosure of additional information consolidated financial statements
[TextBlock]
104
[202700] Notes - Cash flow statements

01/04/2021 01/04/2020
to to 31/03/2020
31/03/2022 31/03/2021
Disclosure of cash flow statement explanatory [TextBlock]
Cash and cash equivalents if different from balance sheet [Abstract]
Cash and cash equivalents cash flow statement 12,062.29 1,042.34 215.75
Total cash and cash equivalents 12,062.29 1,042.34
Income taxes paid (refund) [Abstract]
Income taxes paid (refund), classified as operating activities 0 0
Total income taxes paid (refund) 0 0
[100200] Statement of profit and loss

01/04/2021 01/04/2020
to to
31/03/2022 31/03/2021
Statement of profit and loss [Abstract]
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 2,890.68 892.93
Total revenue from operations other than finance company 2,890.68 892.93
Total revenue from operations 2,890.68 892.93
Other income 338.66 28.85
Total revenue 3,229.34 921.78
Expenses [Abstract]
Cost of materials consumed 0 0
Purchases of stock-in-trade (A) 7.5

0
Changes in inventories of finished goods, work-in-progress and

0 0
stock-in-trade
Employee benefit expense 1,011.16 820.24
Finance costs 570.31 10.87
Depreciation, depletion and amortisation expense [Abstract]
Depreciation expense 91.2 56.82
Amortisation expense 89.32 31.24
Total depreciation, depletion and amortisation expense 180.52 88.06
CSR expenditure 0 0
Other expenses 8,010.89 3,954.09
Total expenses 9,780.38 4,873.26
Total profit before prior period items, exceptional items, extraordinary
-6,551.04 -3,951.48
items and tax
Total profit before extraordinary items and tax -6,551.04 -3,951.48
Total profit before tax -6,551.04 -3,951.48
Tax expense [Abstract]
Current tax 0 0
Deferred tax -3.23 -5.88
Total tax expense -3.23 -5.88
Total profit (loss) for period from continuing operations -6,547.81 -3,945.6
Profit (loss) from discontinuing operations before tax 0 0
Tax expense of discontinuing operations 0 0
Total profit (loss) from discontinuing operation after tax 0 0
Total profit (loss) for period before minority interest -6,547.81 -3,945.6
Profit (loss) of minority interest 0 0
Total profit (loss) for period -6,547.81 -3,945.6
Earnings per equity share [Abstract]
Basic earning per equity share [INR/shares] -305.37 [INR/shares] -262.74
Diluted earnings per equity share [INR/shares] -305.37 [INR/shares] -262.74
Nominal value of per equity share [INR/shares] 10 [INR/shares] 10
105
Footnotes
(A) " For the year ended March 31, 2022 " " For the year ended March 31, 2021 " Opening Stock - - Add : Purchases 7.50 - Less :
Closing Stock - - Total 7.50 -
106
[300500] Notes - Subclassification and notes on income and expenses

01/04/2021 01/04/2020
to to
31/03/2022 31/03/2021
Subclassification and notes on income and expense explanatory [TextBlock] [See below]
Disclosure of revenue from sale of products [Abstract]
Revenue from sale of products [Abstract]
Revenue from sale of products, gross 0 0
Total revenue from sale of products 0 0
Disclosure of revenue from sale of services [Abstract]
Revenue from sale of services [Abstract]
Revenue from sale of services, gross 2,890.68 892.93
Total revenue from sale of services 2,890.68 892.93
Disclosure of other income [Abstract]
Interest income [Abstract]
Interest income on long-term investments [Abstract]
Interest on fixed deposits, long-term investments 0 0
Total interest income on long-term investments 0 0
Total interest income 0 0
Dividend income [Abstract]
Dividend income current investments [Abstract]
Dividend income current investments from subsidiaries 0 0
Total dividend income current investments 0 0
Total dividend income 0 0
Other non-operating income [Abstract]
Miscellaneous other non-operating income (A) 338.66 (B) 28.85
Total other non-operating income 338.66 28.85
Total other income 338.66 28.85
Disclosure of finance cost [Abstract]
Interest expense [Abstract]
Interest expense long-term loans [Abstract]
Interest expense long-term loans, banks 179.71 0
Total interest expense long-term loans 179.71 0
Interest expense short-term loans [Abstract]
Interest expense short-term loans, others 25.65 0.05
Total interest expense short-term loans 25.65 0.05
Interest expense debt securities 158.58 0
Total interest expense 363.94 0.05
Other borrowing costs (C) 206.37 (D) 10.82

Total finance costs 570.31 10.87
Employee benefit expense [Abstract]
Salaries and wages 814.62 543.62
Managerial remuneration [Abstract]
Remuneration to directors [Abstract]
Salary to directors 60 60
Total remuneration to directors 60 60
Total managerial remuneration 60 60
Contribution to provident and other funds [Abstract]
Contribution to provident and other funds for others 22.48 22.11
Total contribution to provident and other funds 22.48 22.11
Expense on employee stock option scheme and employee stock purchase plan 50.53 165.03
Gratuity 15.01 12.54
Staff welfare expense 44.31 11.33
Other employee related expenses 4.21 5.61
Total employee benefit expense 1,011.16 820.24
Breakup of other expenses [Abstract]
Consumption of stores and spare parts 0 0
Power and fuel 0 0
Rent 50.93 19.93
Repairs to building 0 0
Repairs to machinery 0 0
Insurance 23.38 7.1
107
Rates and taxes excluding taxes on income [Abstract]

Central excise duty 0 0
Total rates and taxes excluding taxes on income 0 0
Electricity expenses 7.19 0.52
Telephone postage 10.29 1.37
Printing stationery 7.89 3.18
Information technology expenses (E) 1.57 (F) 1.74

Travelling conveyance 55.09 34.56
Legal professional charges 1,109.95 338.15
Directors sitting fees 0 0
Provision bad doubtful debts created 0 0
Provision bad doubtful loans advances created 0 0
Write-off assets [Abstract]
Miscellaneous expenditure written off [Abstract]
Financing charges written off 0 0
Total miscellaneous expenditure written off 0 0
Bad debts written off 3.79 0
Bad debts advances written off 0 0
Total write-off assets 3.79 0
Loss on disposal of intangible asset 0 0
Loss on disposal, discard, demolishment and destruction of depreciable
0 0
tangible asset
Payments to auditor [Abstract]
Payment for audit services 15.5 7.5
Payment for reimbursement of expenses 0.37 0.27
Total payments to auditor 15.87 7.77
Miscellaneous expenses (G) 6,724.94 (H) 3,539.77

Total other expenses 8,010.89 3,954.09
Current tax [Abstract]
Current tax pertaining to previous years 0 0
Total current tax 0 0
Footnotes
(A) Interest Income 265.46 Other Income 73.20
(B)
Interest Income 10,09,561
Other Income 18,75,173
(C) Other Financial Expenses 199.48 Bank Charges 6.89

(D) Other Interest Expenses 7.60 Bank Charges 3.22
(E) Computer Expenses
(F) Computer Expenses
(G) As disclosed under notes
(H) As disclosed under notes
108
Subclassification and notes on income and expense explanatory [Text Block]

MISCELLENOUS EXPENDITURE NOTES
Cost of Service
ended ended
March 31, 2022 March 31, 2021
Advertisement & Business Promotion
182.15 285.80
Expenses
Business Development expense 159.55 195.97
Branding & Advertisement expense 17.55 3.00
Cab Charging Expenses 463.13 150.19
Car Accessories 0.00
Compensation / Fine expense 2.61 0.00
Driver Expenses 2381.87 1088.45
Commission Expenses 22.62 9.63
Lease Rent Expenses 1988.00 1038.53
Hub Rent Expenses 343.50 225.50
Freight & Transportation Expenses 0.00 0.00
Application Development Expenses 2.80 8.33
Software Expenses 132.64 49.51
Car Electric Equipment & Devices 41.54 12.47
Car Maintenance Expenses 257.10 49.28
Hub Maintenance Expenses 74.60 51.89
Parking Expense 18.83 2.47
Site Maintenance Expenses 0.00 0.00
Road Tax Expense 2.46 3.89
Toll Tax Expense 254.18 84.65
Discount Expenses 143.82 106.60
Promotional Credit / Cash Back Expenses 30.00 32.99
Payment Gateway Expenses 34.88 7.61
Uniform expense 18.55 8.21
Total 6572.39 3414.97

Other expenses ended ended
March 31, 2022 March 31, 2021
Covid Essentials 5.67 7.63
Customer Support Service
6.41 8.44
Expenses
Donation 0.00 0.21
Forex Loss 2.04 0.27
Compliance Expenses 48.48 65.40
Medical Expenses 1.44 0.00
Office Maintenance Expenses 23.26 12.54
Rate & Taxes 11.90 6.69
Reimbursement Expenses 0.00 0.00
Stamp Paper Expense 1.02 0.00
Interest on Statutory Dues 51.60 19.74
Tender fees 0.10 0.00
Transportation Expense 0.61 3.89
Total 152.54 124.81
GRAND TOTAL 6724.93 3539.78
109
[300600] Notes - Additional information statement of profit and loss

01/04/2021 01/04/2020
to to
31/03/2022 31/03/2021
Additional information on profit and loss account explanatory [TextBlock]
Changes in inventories of finished goods 0 0
Total changes in inventories of finished goods, work-in-progress and
0 0
stock-in-trade
Revenue other services 2,890.68 892.93
Total gross income from services rendered 2,890.68 892.93
Expenditure on dividend paid 0 0
Total expenditure in foreign currency 0 0
Final dividend remitted in foreign currency 0 0
Total amount of dividend remitted in foreign currency 0 0
Earnings on interest 0 0
Total earnings on interest and dividend 0 0
Total earnings in foreign currency 0 0
Total revenue from sale of products 0 0
Domestic revenue services 2,890.68 892.93
Total revenue from sale of services 2,890.68 892.93
Gross value of transaction with related parties as per AS-18 0 0
Bad debts of related parties as per AS-18 0 0
[300100] Notes - Revenue

01/04/2021 01/04/2020
to to
31/03/2022 31/03/2021
Disclosure of revenue explanatory [TextBlock] [See below] [See below]
Disclosure of revenue explanatory [Text Block]
i) Revenue (income) is recognized when no significant uncertainty as to the measurability or collectability exists. Revenues
from services are recognised immediately when the service is provided. Sale of Goods is recognised when the significant
risks and rewards of ownership of the goods have passed to the buyer.
i) Revenue (income) is recognized when no significant uncertainty as to the measurability or collectability exists. Revenues
from services are recognised immediately when the service is provided. Sale of Goods is recognised when the significant
risks and rewards of ownership of the goods have passed to the buyer.
110
Disclosure of revenue explanatory [Text Block]
i) Revenue (income) is recognized when no significant uncertainty as to the measurability or collectability exists.
Revenues from services are recognised immediately when the service is provided. Sale of Goods is recognised when the
significant risks and rewards of ownership of the goods have passed to the buyer.
111

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BLU-SMART MOBILITY PRIVATE LIMITED

Consolidated Financial Statements for period 01/04/2021 to 31/03/2022

[400100] Disclosure of general information about company

[400200] Disclosures - Auditors report

Details regarding auditors [Table] ..(1)

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

Textual information (1)

Disclosure in auditor’s report explanatory [Text Block]

To the Members of Blu-Smart Mobility Private Limited

Report on the audit of Consolidated financial statements

Basis for opinion

Our opinion is not modified in respect of this matter.

Management’s Responsibility for the Consolidated financial statements

Auditor’s Responsibilities for the audit of the Consolidated financial statements

Report on Other Legal and Regulatory Requirements

1. As required by Section 143(3) of the Act, we report that:

As stated in Note 3 to the consolidated financial statements

For S. S. KOTHARI MEHTA & COMPANY

Firm’s Registration No. 000756N

Membership No. 500607

Place: New Delhi