Securities premium is the difference between face value of the equity shares and consideration in respect of the shares issued. It can be utilised only for the purpose in accordance with the provisions of the Companies Act. 2013
General Reserve is used from time to time to transfer profits from retained earnings for appropriation purposes. As the General Reserve is created by a transfer from one component of equity to another and is not an item of other comprehensive income, items included in General Reserve will not be reclassified subsequently to Statement of profit or loss.
Capital Reserve
This reserve is created pursuant to the transfer of "Wealth Business Undertaking" and "Broking and Depository Participant Business Undertaking" in accordance with the composite scheme of arrangement amongst India Infoline Finance Limited ("IIFL Finance"), IIFL Holdings Limited ("IIFL Holdings"), India Infoline Media and Research Services Limited ("IIFL M&R"), IIFL Securities Limited ("IIFL Securities"), 360 ONE WAM Limited ("IIFL Wealth") and 360 ONE Distribution Services Limited (Formerly known as IIFL Wealth Distribution Services Limited ("IIFL Distribution"), and their respective shareholders.
This represents cumulative stock-based compensation cost recognized for options granted but not yet exercised .It converts to paid-in capital & securities premium on exercise of options by the company or reverses to retained earnings/ general reserve on lapse.
Retained Earnings
Retained earnings are the profits that the company has earned till date, less any transfers to general reserves, dividend or other distributions paid to shareholders.
Money Received against Share Warrant
Money received against share warrants represent upfront payments (25%) for future equity acquisition and are classified as equity. Upon exercise of warrants, equity shares will be issued and this amount will be transferred to equity share capital and securities premium. (Refer Note. 43)
NOTE 31. EXCEPTIONAL ITEM
The Company had entered into a settlement deed on July 30, 2024 to settle the Proceedings in respect of civil suit brought by Mr. Prashant Hasmukh Manek & Others in the High Court of England & Wales against 360 ONE WAM and some of its subsidiaries on payment of a Settlement sum of GBP 11.10 million. An amount of '117.10 crore was charged in the books of the Company and accordingly, an amount of '87.63 crore has been disclosed as an exceptional item, net of applicable taxes, in the Statement of Standalone Profit and Loss for the year ended March 31,2025. The Company has received an order dated September 18, 2024 from the aforesaid High Court confirming the discharge of the Company, 360 ONE Asset Management (Mauritius) Limited and 360 ONE Capital Pte. Ltd. and conclusion of the Suit.
34.1 Corporate guarantee issued to banks towards provision of credit facilities and bank guarantee to subsidiaries of the Company.
34.2 Amount paid under protest with respect to income tax demand '6.65 crore (PY : '7.06 crore)
Management believes that the ultimate outcome of above matters will not have a material adverse impact on its financial position, results of operations and cash flows. In respect of above matters, future cash outflows in respect of contingent liabilities are determinable only on receipt of judgements pending at various authorities.
34.3 The Company has received demand towards stamp duty on account of the Composite Scheme of Arrangement. The demand has been raised for a sum of '75.00 crore. As per the scheme document any incidental expenses will be borne by the resulting companies i.e IIFL Finance Limited, IIFL Capital Services Limited (Formerly Known as IIFL Securities Limited) and 360 ONE WAM Limited equally. The Company has appealed against the same and paid '8.33 crore under protest towards its share of the liability and shown '16.67 crore as Contingent liability.
34.4 Amount paid under protest with respect to indirect tax demand '0.90 crore (PY : '0.43 crore)
34.5 The Income Tax Department ("the Department") conducted a Search ("the Search") under Section 132 of the Income Tax Act on the Company during the quarter ended March 31,2025. During the Search and subsequently thereafter, the Department has been seeking information including the notice under Section 142 (1) of the Income Tax Act, 1961 in respect of certain claims for deductions made by the Company in earlier assessment years and the same has been provided by the Company. As at the date of Board meeting held on April 21,2026, the Department has issued an Order on the Company levying tax amounting to '192.42 crore (including surcharge). While uncertainty exists regarding the outcome of the proceeding, as of the date of approval of these financial results the Company does not believe any adjustments are required to be recorded/made in the current or prior period financial information. However, the same has been disclosed as Contingent liabilities.
During the year 2025-26, the Company has spent a total amount of '1.27 crore out of its total liability '3.66 crore (PY '3.85 crore). The Company is committed to support development of the country by contributing in achieving sustainable development goals and all its activities are directed towards this. Going forward, these projects will be consolidated and scaled to achieve a larger and deeper impact. The key focus areas include education. All donations during the year are to charitable trusts and nothing has been paid to political parties.
The Company has met its CSR obligations through its subsidiary 360 ONE Foundation except for administrative cost directly paid by the Company Group. The details of the related party transaction is provided in Note. 37
The unspent amount (amount yet to spent) will be transferred to unspent CSR bank account within 30 days from the end of the financial year, in accordance with the Companies Act read with the CSR Amendment Rules.
NOTE 36. DISCLOSURE PURSUANT TO IND AS 107 "FINANCIAL INSTRUMENTS: DISCLOSURES"
The Company's financial risk management is an integral part of how to plan and execute its business strategies. The Company's principal financial liabilities comprise trade and other payables, debt securities, borrowings and other financial liabilities. The Company's principal financial assets include trade and other receivables, cash and cash equivalents, loans, investments and other financial assets that derive directly from its operations and Investment.
The Company is exposed to market risk, credit risk, liquidity risk etc. The Company's senior management oversees the management of these risks. The Company's senior management is overseen by the audit committee with respect to risks and facilitates appropriate financial risk governance framework for the Company. Financial risks are identified, measured and managed in accordance with the Company's policies and risk objectives. The Board of Directors reviews and agrees policies for managing key risks, which are summarised below.
Credit risk refers to risk that a counterparty will default on its contractual obligations resulting in financial loss to the Company. Credit risk assessement on various components is described below:
The Company has outstanding loans to staff and Inter corporate deposits. The Company has not made any provision on ECL as credit risk is considered insignificant on account of loans given to related parties and employees.
The Company's trade receivables primarily include receivables from customers under syndication and merchant banking arrangements. Other receivables include receivables from mutual funds, alternate investment funds and related parties. The Company has made lifetime expected credit loss provision based on provision matrix which takes into account historical experience in collection and credit losses.
In addition to the above, balances and deposits with banks, investments and other financial assets also have exposure to credit risk.
Credit risk on balances and deposits with banks is limited as these balances are generally held with banks with high credit ratings and/or with capital adequacy ratio above the prescribed regulatory limits.
The credit risk in respect of investments classified as Fair Value through Profit or Loss is priced in the fair value of the respective instruments.
Credit Risk on Other Financial assets is considered insignificant considering the nature of such assets and absence of counterparty risk.
Liquidity risk refers to the risk that the Company may not be able to meet its short-term financial obligations. The Company manages liquidity risk by maintaining sufficient cash and marketable securities and by having access to funding through an adequate amount of credit lines. Further, The Company has well defined Asset Liability Management (ALM) Framework with an appropriate organisational structure to regularly monitor and manage maturity profiles of financial assets and financial liabilities including debt financing plans, cash and cash equivalent instruments to ensure liquidity. The Company seeks to maintain flexibility in funding mix by way of sourcing the funds through money markets, debt markets and banks to meet its business and liquidity requirements.
36C. Market Risk
Market risk is the risk of any loss in future earnings, in realisable fair values or in future cash flows that may result from a change in the price of a financial instrument.
360.1 Currency Risk
The Company does not run a proprietary trading position in foreign currencies and foreign currency denominated instruments. However the company does have some exposure to foreign currencies through its business operations or by mainitaing cash balance and trade receivables in currencies other than reporting/functional currencies.
36E.1. Fair values of financial instruments
The Company measures fair values using the following fair value hierarchy, which reflects the significance of the inputs used in making the measurements.
- Level 1: Inputs that are quoted market prices (unadjusted) in active markets for identical instruments. This include NAVs of the schemes of mutual funds.
- Level 2: Inputs other than quoted prices included within Level 1 that are observable either directly (i.e. as prices) or indirectly (i.e. derived from prices). This category includes instruments valued using: quoted market prices in active markets for similar instruments; quoted prices for identical or similar instruments in markets that are considered less than active; or other valuation techniques in which all significant inputs are directly or indirectly observable from market data.
- Level 3: Inputs that are unobservable. This category includes all instruments for which the valuation technique includes inputs that are not observable and the unobservable inputs have a significant effect on the instrument's valuation. This category includes instruments that are valued based on quoted prices for similar instruments for which significant unobservable adjustments or assumptions are required to reflect differences between the instruments.
The Company uses widely recognised valuation methods to determine the fair value of common and simple financial instruments, such as interest rate swaps, options, which use only observable market data as far as practicable. Observable prices or model inputs are usually available in the market for listed debt and equity securities, exchange-traded derivatives and simple OTC derivatives such as interest rate swaps.
1 Information relating to remuneration paid to key managerial person mentioned above excludes provision made for gratuity and provision made for bonus which are provided for company as a whole.
2 Corporate guarantee amount disclosed basis utilisation as at Balance sheet date.
3 Information relating to corporate social responsibility includes contributions done in the current year towards liabilities of current year and carried forward liabilities of previous year.
4 AH Related Party Transactions entered during the year were in ordinary course of the business and on arm's length basis.
5 *Represents Amount less than '1,00,000.
6 In continuation of the financial support extended to its wholly-owned subsidiary, 360 ONE IFSC Limited, in earlier years, the Company has renewed its letter of financial support vide letter dated 17 April 2026, confirming that the Company will provide financial support to enable the subsidiary to meet its obligations as they fall due for a period of at least twelve months from the date of the letter.
NOTE 38 : EMPLOYEE STOCK OPTIONS
A) The Company has implemented equity settled Employee Stock Options Scheme 2012 (IIFLW ESOP 2012), Employee Stock Options Scheme 2015 ( IIFLW ESOP 2015), Employee Stock Options Scheme 2019 (IIFLW ESOP 2019), Employee Stock Options Scheme 2021 (IIFLW ESOP 2021), Employee Stock Options Scheme 2022 (IIFLW ESOP 2022), Employee Stock Options Scheme 2023 (360 ONE ESOS 2023), Employee Stock Options Scheme 2025 - Series 1 (360 ONE ESOS 2025 - Series 1) and Employee Stock Options Scheme 2025 - Series 2 (360 ONE ESOS 2025 - Series 2) and has outstanding options granted under the said schemes except for options granted under IIFLW ESOP 2012 and IIFLW ESOP 2015. The options vest in graded manner and must be exercised within a specified period as per the terms of grants by the Nomination and Remuneration Committee and respective ESOP Schemes.
During the year ended March 31,2023, the Nomination and Remuneration Committee of the Board of Directors, approved making appropriate adjustments due to Sub-division of Shares and Bonus Shares, to the stock options ("Stock Options") granted under IIFL Wealth Employee Stock Option Scheme - 2015, IIFLW ESOP - 2019, IIFL Wealth ESOP Scheme - Under Composite Scheme of Arrangement, IIFLW ESOP - 2021 and IIFL Wealth Employee Stock Option Scheme 2022 (collectively referred to as "Schemes") such that the exercise price for all outstanding stock options (vested but not exercised as well as unvested Stock Options), the number thereof and the number of Stock Options available for future grant(s) as on the record date were proportionately adjusted in accordance with the respective Schemes. In view of the Sub-division of Shares, the number of unvested and unexercised Stock Options were 'doubled', the exercise price in respect of each such Stock Option post-adjustment was 'halved' and all other terms of the Stock Options remained same. In view of the Bonus Shares, upon exercise of 1 (one) Stock Option by the option grantee, 2 (two) equity shares of face value '1/- would be issued and allotted to such option grantee (without requiring any additional payment over and above the exercise price) and all other terms of the Stock Options should remain same.
NOTE 40. SEGMENT REPORTING
The Company's main business is to provide transaction structuring relating to financial products to its clients under the merchant banking license. AIL activities of the Company are carried out in India. As such there are no separate reportable segments as per the Indian Accounting Standard 108 (IND AS 108) on Operating Segments. The requisite disclosures on segment reporting for the Company and its subsidiaries have been given in the consolidated financial statements.Since the business operations of the Company are primarily concentrated in India, the Company is considered to operate only in the domestic segment and therefore there is no reportable geographic segment.
NOTE 41. OTHER STATUTORY INFORMATION
1. The Company does not hold any immovable property as on 31 March 2026 and 31 March 2025, whose title deeds are not in the name of the Company.
2. The Company has not revalued its Property, Plant and Equipment in current year and previous year.
3. No proceedings have been initiated or pending against the Company for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 and rules made thereunder, as at 31 March 2026 and 31 March 2025.
4. The Company is not a declared wilful defaulter by any bank or financial Institution or other lender, in accordance with the guidelines on wilful defaulters issued by the Reserve Bank of India, during the year ended 31 March 2026 and 31 March 2025.
5. The Company does not have any transactions with the companies struck off under section 248 of Companies Act, 2013 or section 560 of Companies Act, 1956 during the year ended 31 March 2026 and 31 March 2025.
6. There have been no transactions which have not been recorded in the books of account, that have been surrendered or disclosed as income during the year ended 31 March 2026 and 31 March 2025, in the tax assessments under the Income Tax Act, 1961. There have been no previously unrecorded income and related assets which were to be properly recorded in the books of account during the year ended 31 March 2026 and 31 March 2025.
7. The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding (whether recorded in writing or otherwise) that the Intermediary shall:
a. directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Company (Ultimate Beneficiaries) or
b. provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.
8. The Company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the Company shall:
a. 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
b. provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
9. The Company has not traded or invested in Crypto currency or Virtual Currency during the year ended 31 March 2026 and 31 March
2025.
10. The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period.
11. Considering that the Company is in the business of wealth management, the analytical ratios related to Capital to Risk Weighted Assets Ratio (CRAR), Tier I CRAR,Tier II CRAR and Liquidity Coverage Ratios are not applicable.
12. The Company has used accounting software systems for maintaining its books of account for the financial year ended March 31,
2026, which have an in-built feature of recording audit trail (edit log) facility. Such feature has operated throughout the year for all relevant transactions recorded in the software systems. Further, the audit trail has been preserved by the Company as per the statutory requirements for record retention and has not been tampered with.
13. The Company has complied with the Rule 3 of Companies (Accounts) Rules, 2014 amended on August 05, 2022 relating to maintenance of electronic books of account and other relevant books and papers. The Company's books of accounts and relevant books and papers are accessible in India at all times and backup of accounts and other relevant books and papers are maintained in electronic mode within India and kept in servers physically located in India on daily basis.
NOTE 42. BUSINESS COMBINATION
a) 360 ONE Asset Management Limited ("Transferor") has transferred its business consisting of management of Alternative Investment Funds for Category I and II, in its capacity of acting as an investment manager including the Co-investment Portfolio Management Business ("Co-invest PMS") in the capacity of a co-investment portfolio manager, to 360 ONE Alternates Asset Management Limited ("Transferee"). Both the transferor and transferee companies are wholly owned subsidiary companies of 360 ONE WAM Limited. This transfer of business undertaking was made through a business transfer agreement with an effective date of April 01,2024.
b) The Company entered into a Share Purchase and Share Subscription Agreement with Times Internet Limited to acquire 100% of Moneygoals Solution Limited (MGSL) and a wholly owned subsidiary of MGSL, Banayantree Services Limited (BTSL) (collectively known as ET Money) on June 12, 2024. The transaction was consummated on February 06, 2025, pursuant to which MGSL has become a wholly owned subsidiary of the Company and BTSL has become the step down wholly owned subsidiary of the Company. The total consideration for the said acquisition amounts to '365.83 crore which was partly discharged by payment of cash consideration of '85.83 crore and partly by issuance of equity shares for consideration other than cash i.e. by issuance and allotment of 3,590,000 fully paid-up equity shares of the Company of face value '1/- at a price of '779.93/-.
c) The Board of the Company, at its meeting held on January 27, 2025, had approved the acquisition of the entire paid-up equity share capital of Batlivala & Karani Securities India Private Limited and Batlivala & Karani Finserv India Private Limited, by the Company for a total consideration of '1,884.13 crore which was agreed to be partly discharged by payment of cash consideration of '709.37 crore, subject to working capital adjustments, and partly by issuance of equity shares for consideration other than cash i.e. by issuance and allotment of 1 crore fully paid-up equity shares of the Company of face value '1/- at a price of '1,174.76/- per share in accordance with Chapter V of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 ("ICDR Regulations"). The transaction was consummated on May 27, 2025, with a final cash consideration after working capital adjustments of '798.90 crore and total consideration of '1,973.66 crore.
d) 360 ONE Distribution Services Limited ("DSL") and MAVM Angels Network Private Limited ("MAVM"), the wholly owned subsidiaries of the Company, had approved the scheme of amalgamation ("Scheme") under Section 230 to 232 and other applicable provisions of the Companies Act, 2013 and the rules and regulations made thereunder, of MAVM ("Transferor Company") with and into DSL ("Transferee Company") at their respective meetings of the Board of Directors held on September 26, 2024 subject to necessary approvals. Hon'ble National Company Law Tribunal ("NCLT"), Mumbai Bench, vide its order dated September 09, 2025 has approved the Scheme and the scheme has become effective from September 30, 2025 upon completion of necessary filings with the Registrar of Companies, Mumbai.
NOTE 43.
On May 29, 2025, the Company has allotted 3,333,333 warrants ("Warrants") on a preferential issue basis to Mr. SaahiL Murarka at a price of '1,174.76/- (Rupees one thousand one hundred and seventy four and paise seventy six only) per Warrant, which are convertible into an equivalent number of fully paid-up equity shares of the Company of face value of '1/- each within a maximum period of 18 (eighteen) months from the date of allotment. In this regard, an amount of '97.89 crore i.e 25% of the warrant exercise price has been received from the aLLottee.
On July 21, 2025, the Company has allotted 20,502,939 warrants ("Warrants") on a preferential issue basis to UBS AG at a price of ' 1,030.00/- (Rupees One Thousand and Thirty only) per Warrant, which are convertible into an equivalent number of fully paid-up equity shares of the Company of face value of '1/- each within a maximum period of 18 (eighteen) months from the date of allotment. In this regard, an amount of '527.95 crore i.e 25% of the warrant exercise price has been received from the aLLottee.
NOTE 44.
The Company provides premises, infrastructure and other facilities and services to its subsidiary companies, which are termed as 'Shared Services'. Hitherto, such shared services consisting of administrative and other revenue expenses paid for by the Company were allocated by the Company to its subsidiary companies. Further the Company allocates such cost based on reasonable management estimates, which are constantly refined in the Light of additional knowledge gained relevant to such estimation.
NOTE 45.
The Government of India has announced the implementation of four new Labour Codes, namely, the Code on Wages-2019, the Code on Social Security-2020, the Industrial Relations Code-2020, and the Occupational Safety, Health and Working Conditions Code-2020 (collectively referred to as the "New Labour Codes") with effect from November 21,2025. WhiLe the codes are effective from specified date, the detaiLed ruLes are pending for issuance. To compLy with the above, the Company has assessed its empLoyee benefit obLigations based on the revised definition of wages in Line with the New Labour Codes. The Company has aLready estimated and accounted for its increased obLigations in accordance with Ind AS 19 - 'EmpLoyee Benefits' and FAQs on key accounting impLications arising from the New Labour Codes issued by the Institute of Chartered Accountants of India ('ICAI') in its financiaL resuLts during the year ended March 31,2026. The Company continues to monitor deveLopments and wiLL re-assess impact, if any, based on the finaL ruLes.
NOTE 46. EVENTS AFTER REPORTING PERIOD
Except as given beLow, there were no significant events from the end of financiaL year tiLL the date of adoption of accounts, that require discLosure in these financiaL statements.
a) With a view to consoLidate the asset management business for pubLic equities and provide a unified investment pLatform, the Board of 360 ONE Portfolio Managers Limited ("Transferor", a wholly owned subsidiary of 360 ONE WAM Limited) at its meeting held on April 18, 2026, has approved the transfer of Company's business consisting of management of the alternative investment funds ("AIF Business") and the portfolio management business ("PMS Business") to 360 ONE Asset Management Limited (the "Transferee"), a wholly owned subsidiary of 360 ONE WAM Limited, on a going concern basis and by way of a slump sale, for a lump sum consideration not less than the net book vaLue of the undertaking (subject to necessary adjustments for working capitaL). Such transfer shaLL take effect from a date to be mutually determined by the Transferor and the Transferee and shah be subject to the prior approval of their respective shareholders and such other approvals, consents, and permissions as may be required.
b) The Board of 360 ONE Alternates Asset Management Limited ("AAM"), a wholly owned subsidiary of 360 ONE WAM Limited at its meeting held on April 20, 2026, has approved acquisition of the entire paid-up equity share capital of Quark Solar Private Limited on a fully diluted basis, by AAM for the total consideration of '9.39 crore which is to be fully discharged in cash, and on such other terms and conditions as mentioned in the Share Purchase Agreement ("SPA") to be executed with Quark Solar Private Limited and Sellers.
NOTE 47. APPROVAL OF FINANCIAL STATEMENTS
The financial statements were approved for issuance by the Board of Directors on April 21,2026.
NOTE 48.
Previous year figures have been reclassified/regrouped, where necessary, to conform to the current year presentation. Management has assessed that such reclassifications are not material, and accordingly, detailed quantification has not been disclosed. There is no impact on profit, total comprehensive income or net assets.
NOTE 49.
The Ind AS financials statements of the Company for the year ended March 31,2025, were audited by predecessor auditor who expressed an unmodified opinion on those financial information on April 23, 2025