2.9 Provisions

Provisions are recognised when the Company has a
present legal or constructive obligation as a result of
past events, it is probable that an outflow of resources
embodying economic benefits will be required to
settle the obligation and the amount can be reliably
estimated. Provisions are not recognised for future
operating losses.

Where there are a number of similar obligations, the
likelihood that an outflow will be required in settlement

is determined by considering the class of obligations as
a whole. A provision is recognised even if the likelihood
of an outflow with respect to any one item included in
the same class of obligations may be small.

I f the effect of the time value of money is material,
provisions are measured at the present value of
management's best estimate of the expenditure
required to settle the present obligation at the end of the
reporting period. The discount rate used to determine
the present value is a pre-tax rate that reflects the risks
specific to the liability. The increase in the provision due
to the passage of time is recognised as a finance cost.

2.10 Non-current assets held for sale

Non-current assets are classified as held for sale if their
carrying amount will be recovered principally through a
sale transaction rather than through continuing use and
a sale is considered highly probable. The criteria for held
for sale is considered to have met only when the assets
is available for immediate sale in its present condition,
subject only to terms that are usual and customary for
sales of such assets, its sale is highly probable; and it will
genuinely be sold, not abandoned. They are measured at
the lower of their carrying amount and fair value less
costs to sell.

An impairment loss is recognised for any initial or
subsequent write-down of the asset to fair value less
costs to sell. A gain is recognised for any subsequent
increases in fair value less costs to sell of an asset,
but not in excess of any cumulative impairment loss
previously recognised. A gain or loss not previously
recognised by the date of the sale of the non-current
asset is recognised at the date of de-recognition.

Non-current assets are not depreciated or amortised
while they are classified as held for sale.

Non-current assets classified as held for sale are
presented separately from the other assets in the
balance sheet.

2.11 Leases (as lessee)

The company assesses whether a contract contains
a lease, at inception of a contract. A contract is, or
contains, a lease if the contract conveys the right to
control the use of an identified asset for a period of time
in exchange of consideration.

To assess whether a contract conveys the right to
control the use of an identified asset, the Company
assesses whether:

(i) the Contract involves the use of an identified asset,

(ii) the Company has substantially all of the economic
benefits from use of the asset through the period
of lease

(iii) the Company has the right to direct the use of asset

As at the date of commencement of the lease, the
Company recognises a right of use asset and a
corresponding lease liability for all lease arrangements
in which it is a lessee, except for the leases with a term
of twelve month or less (short term leases). For these
short term leases, the Company recognises the lease
payments as an operating expense on a straight line
basis over the period of lease.

Certain lease arrangements includes the options to
extend or terminate the lease before the end of the
lease term. ROU assets and lease liabilities includes
these options when it is reasonably certain that they will
be exercised.

The right-of-use assets are initially recognised at cost,
which comprises the initial amount of the lease liability
adjusted for any lease payments made at or prior to the
commencement date of the lease plus any initial direct
costs less any lease incentives. They are subsequently
measured at cost less accumulated depreciation and
impairment losses.

Right-of-use assets are depreciated from the
commencement date on a straight-line basis over
the lease term. The lease liability is initially measured
at amortised cost at the present value of the future
lease payments. Lease liabilities are remeasured with
a corresponding adjustment to the related right of use
asset if the Company changes its assessment if whether
it will exercise an extension or a termination option.

Ind AS 116 sets out the principles for the recognition,
measurement, presentation and disclosure of leases
and requires lessees to account for all leases under a
single on-balance sheet model.

Lease liability and ROU asset have been separately
presented in the Balance Sheet and lease payments
have been classified as financing cash flows.

Effective April 01, 2019 the Company adopted Ind AS 116
and applied the standard to all lease contracts existing
on April 01, 2019 using the modified retrospective
approach and has taken the cumulative adjustment to
right of use of assets, on the date of initial application.
Consequently the Company recorded the lease liability
at the present value of the lease payments discounted
at the incremental borrowing rate at the date of
initial application.

On transition; the Company recognised right-of-use
assets and lease liabilities for those leases previously
classified as operating leases, except for short-term
leases and leases of low-value assets. The Company
recognised a lease liability measured at the present
value of the remaining lease payments. The right-of-

use asset is recognised at its carrying amount as if the
standard had been applied since the commencement of
the lease, but discounted using the lessee's incremental
borrowing rate as at April 1, 2019. The right-of-use
assets were recognised based on the amount equal
to the lease liabilities, adjusted for any related prepaid
and accrued lease payments previously recognised.
Lease liabilities were recognised based on the present
value of the remaining lease payments, discounted
using the incremental borrowing rate at the date of
initial application.

The principle portion of the lease payments have been
disclosed under cash flow from financing activities.
The lease payments for operating leases as per Ind AS
17 - Leases, were earlier reported under cash flow from
operating activities. Refer note 3(b) & 10(c) of financial
statement for detailed disclosure.

The following is the summary of practical expedients
elected on initial application:

1. Single discount rate is applied to a portfolio of
leases of similar assets in similar economic
environment with a similar end date

2. The exemption for not recognising right-of-use
assets and liabilities for leases with less than
12 months of lease term on the date of initial
application has been availed

3. The initial direct costs from the measurement
of the right-of-use asset at the date of initial
application have been excluded

4. Used hindsight in determining the lease term
where the contract contains options to extend or
terminate the lease.

5. On account of Covid-19, the rent concessions are
not considered as a modification to lease, and the
rent concessions are considered as other income.

The incremental borrowing rate applied to lease
liabilities as at April 1, 2019 is taken at 8.50%

2.12 Segment Reporting

Operating segments are reported in a manner consistent
with the internal reporting provided to the Chief
Operating Decision Maker (CODM).

All operating segments' results are reviewed regularly
by the Company’s Managing Director & Chief Executive
Officer (MD & CEO) who have been identified as the
CODM, to assess the financial performance and position
of the Company and makes strategic decisions.

The Company is primarily in the business of internet
based service delivery operating in four service

verticals through various web portals in respective
verticals namely recruitment solutions comprising
primarily naukri.com, other recruitment related portals
and ancillary services related to recruitment, 99acres.
com for real estate related services, Jeevansathi.com
for matrimony related services and Shiksha.com for
education related services.

(a) Description of segments and principal
activities

The CODM evaluates the Company's performance and
allocates resources based on an analysis of various
performance indicators by business segments.
Accordingly, information has been presented along
these business segments. The accounting principles
used in preparing these financial statements are
consistently applied to record revenue & expenditure
in individual segments. The reportable segments
represent "Recruitment Solutions” and "99acres” and
the "Others".

1: Recruitment Solutions: This segment consists of
Naukri (both India and Gulf business) and all other
allied business which together provides complete hiring
solutions which are both B2B as well as B2C. Apart
from all Other Online business, it also includes Offline
headhunting business 'Quadrangle’.

2: Real State- 99acres: 99acres.com derives its
revenues from property listings, builders’ and brokers’
branding and visibility through micro-sites, home page
links and banners servicing real estate developers,
builders and brokers.

3: Others: This segment comprises primarily
Jeevansathi and Shiksha service verticals since they
individually do not meet the qualifying criteria for
reportable segment as per the Ind AS.

The CODM primarily uses a measure of profit before tax
to assess the performance of the operating segments.
However, the CODM also receives information about the
segments' revenue and assets on a monthly basis.

(b) Profit before tax

Profit before tax for any segment is calculated by
subtracting all the segment’s expenses (excluding
taxes) incurred during the period from the respective
segment's revenue earned during the period. To
calculate the segment level expenses, certain common
expenditures which are incurred for the entity as a whole
but cannot be directly mapped to a single segment
are allocated basis best management estimates to all
the segments.

Interest income is not allocated to segments as this
type of activity is driven by the central treasury function.

Similarly, certain costs including corporate expenses
which are not directly related to general functioning of
business are not allocated to segments.

2.13 Cash and cash equivalents

Cash and cash equivalent in the balance sheet comprise
cash on hand, amount at banks and other short-term
deposits with an original maturity of three months or
less that are readily convertible to known amount of
cash and, which are subject to an insignificant risk of
changes in value.

For the purpose of the statement of cash flows, cash
and cash equivalents consist of cash and short-term
deposits, as defined above, net of outstanding bank
overdrafts as they are considered an integral part of the
company’s cash management

2.14 Earnings Per Share (EPS)

(i) Basic earnings per share

Basic earnings per share is calculated by dividing:

• the profit for the period

• by the weighted average number of equity shares
outstanding during the financial year, adjusted for
bonus elements in equity shares issued during
the year.

(ii) Diluted earnings per share

Diluted earnings per share adjusts the figures used in
the determination of basic earnings per share to take
into account:

• the weighted average number of additional equity
shares that would have been outstanding assuming
the conversion of all dilutive potential instruments
into equity shares.

For the purpose of calculating basic EPS, shares allotted
to ESOP trust pursuant to the employee share based
payment plan are not included in the shares outstanding
as on the reporting date till the employees have
exercised their right to obtain shares, after fulfilling the
requisite vesting conditions. Till such time, the shares
so allotted are considered as dilutive potential equity
shares for the purpose of calculating diluted EPS.

The number of shares and potential dilutive equity
shares are adjusted retrospectively for all periods
presented for any event such as bonus shares issues/
stock split including for changes effected prior to
the approval of the financial statements by the Board
of Directors.

2.15 Treasury shares (Shares held by the ESOP
Trust)

The Company has created an Employee Stock Option
Plan Trust (ESOP Trust) for providing share-based
payment to its employees and to employees of wholly
owned companies. The Company uses the trust as a
vehicle for distributing shares to employees under the
employee remuneration schemes. The Company allots
shares to the ESOP Trust. The Company treats the
ESOP trust as its extension and shares held by ESOP
Trust are treated as treasury shares. Share options
exercised during the reporting period are satisfied with
treasury shares. The cost associated with share-based
payment to employees of wholly owned companies is
apportioned to them on actual basis.

The consideration paid for treasury shares including any
directly attributable incremental cost is presented as a
deduction from total equity, until they are cancelled, sold
or reissued. When treasury shares are sold or reissued
subsequently, the amount received is recognised as an
increase in equity, and the resulting surplus or deficit on
the transaction is transferred to/ from retained earnings.

2.16 Financial Instruments
(i) Classification

The Company classifies its financial assets in the
following measurement categories:

• those to be measured subsequently at fair value
through other comprehensive income,

• those to be measured subsequently at fair value
through profit or loss, and

• those to be measured at amortised cost.

The classification depends on the Company’s business
model for managing the financial assets and the
contractual terms of the cash flows.

For financial assets measured at fair value, gains and
losses are recorded either through profit or loss or
through other comprehensive income. For investments
in equity instruments in subsidiaries, associates and
jointly controlled entities these are carried at cost
less diminution, if any. However, the gains or losses
with respect to Investment in Units of Controlled Trust
and other investments that are not held for trading are
recognised through other comprehensive income.

The Company reclassifies debt investments when
and only when its business model for managing those
assets changes.

(ii) Measurement

At initial recognition, the Company measures a financial
asset at its fair value plus, in the case of a financial asset
not at fair value through profit or loss, transaction costs
that are directly attributable to the acquisition of the
financial asset. Transaction costs of financial assets
carried at fair value through profit or loss are expensed
in profit or loss.

Upon initial recognition, the Company elects to classify
irrevocably its equity investments which are financial
investments in nature, on instrument to instrument
basis, as equity instruments designated at fair value
through OCI that are not held for trading. For other
investments which are required to be carried at fair value
are routed through Profit & loss account. Profit or gain
on the investments in subsidiaries, associates or jointly
controller entities, till the date of conversion to financial
investments, is routed through Profit and Loss account.

Financial assets with embedded derivatives are
considered in their entirety when determining whether
their cash flows are solely payment of principal
and interest.

Debt instruments

Subsequent measurement of debt instruments depends
on the Company’s business model for managing the
asset and the cash flow characteristics of the asset.
There are three measurement categories into which the
Company has classified its debt instruments:

• Amortised cost: Assets that are held for collection
of contractual cash flows and where the contractual
terms give rise on specified dates to cash flows that
represent solely payments of principal and interest,
are measured at amortised cost. A gain or loss on
a debt investment that is subsequently measured at
amortised cost is recognised in profit or loss when the
asset is derecognised or impaired. Interest income
from these financial assets is included in finance
income using the effective interest rate method.

• Fair value through other comprehensive income
(FVTOCI): Assets that are held for collection of
contractual cash flows and for selling the financial
assets, where the assets’ cash flow represent solely
payments of principal and interest, are measured
at fair value through other comprehensive income
(FVTOCI). Movements in the carrying amount
are taken through OCI, except for recognition of
impairment gains or losses, interest revenue and
foreign exchange gains and losses which are
recognised in profit & loss in the same manner as for
financial assets measured at amortised cost. The
remaining fair value changes are recognised in OCI.

• Fair value through profit or loss (FVTPL): Assets
that do not meet the criteria for amortised cost, are
measured at fair value through profit or loss. A gain
or loss on a debt investment that is subsequently
measured at fair value through profit or loss is
recognised in profit or loss and presented net in the
statement of profit and loss within other income in
the period in which it arises. Interest income from
these financial assets is included in other income.

Equity instruments

The Company subsequently measures all equity
investments which are within the scope of Ind AS 109 at
fair value, other than investments in equity instruments
in subsidiaries, associates and jointly controlled
entities, which are carried at cost less diminution, if
any. Dividends are recognised as other income in the
statement of profit and loss when the right of payment
has been established. The investment in Controlled
Trust & financial Investment which are not held for
trade is subsequently measured at fair value through
Other Comprehensive Income. Upon initial recognition,
the Company elects to classify irrevocably its equity
investments, on instrument to instrument basis, as
equity instruments designated at fair value through OCI
that are not held for trading. Gains and losses on these
financial assets are never recycled to profit or loss.

iii) Impairment of financial assets

The company assesses on a forward looking basis
the expected credit losses associated with its assets
carried at amortised cost. The impairment methodology
applied depends on whether there has been a significant
increase in credit risk.

For trade receivables only, the Company applies the
simplified approach permitted by Ind AS 109 Financial
Instruments, which requires expected lifetime losses to
be recognised from initial recognition of the receivables.

(iv) Derecognition of financial instruments

A financial asset is derecognised only when

• the Company has transferred the rights to receive
cash flows from the financial asset or

• retains the contractual rights to receive the
cash flows of the financial asset, but assumes a
contractual obligation to pay the cash flows to one
or more recipients.

Where the Company has transferred an asset, the
Company evaluates whether it has transferred
substantially all risks and rewards of ownership of
the financial asset. In such cases, the financial asset
is derecognised. Where the entity has not transferred

substantially all risks and rewards of ownership of the
financial asset, the financial asset is not derecognised.

Where the entity has neither transferred a financial
asset nor retains substantially all risks and rewards of
ownership of the financial asset, the financial asset is
derecognised if the Company has not retained control
of the financial asset. Where the Company retains
control of the financial asset, the asset is continued to
be recognised to the extent of continuing involvement in
the financial asset.

(v) Financial Liabilities

Financial liabilities are classified, at initial recognition,
as loans and borrowings, payables, as appropriate.

The Company’s financial liabilities include trade and
other payables, loans and borrowings including bank
overdrafts. For trade and other payables maturing
within one year from the balance sheet date, the carrying
amounts approximate fair value due to short term
maturity of these instruments.

A financial liability (or a part of financial liability) is
derecognised from the Company’s balance sheet when
the obligation specified in the contract is discharged or
cancelled or expires.

(vi) Income recognition
Interest income

For all debt instruments measured at amortised cost,
interest income is recorded using the effective interest
rate (EIR). EIR is the rate that exactly discounts the
estimated future cash payments or receipts over the
expected life of the financial instrument or a shorter
period, where appropriate, to the gross carrying amount
of the financial asset or to the amortised cost of a
financial liability. When calculating the effective interest
rate, the company estimates the expected cash flows
by considering all the contractual terms of the financial
instrument (for example, prepayment, extension, call
and similar options) but does not consider the expected
credit losses. Interest income is included in finance
income in the statement of profit and loss

Dividends

Dividends are recognised in profit or loss only when
the right to receive the payments is established, it is
probable that the economic benefits associated with the
dividend will flow to the Company, and the amount of
the dividend can be measured reliably, which is generally
when the shareholders approve the dividend.

2.17 Common control business combinations
(CCBC) transactions

Business combinations of entities under common
control are accounted for using the pooling of interests
method as follows:

• The assets and liabilities of the combining entities
are reflected at their carrying amounts from the
controlling parties’ perspective.

• No adjustments are made to reflect fair values, or
recognise any new assets or liabilities. Adjustments
are only made to harmonise accounting policies.

• The financial information in the financial statements
in respect of prior periods is restated as if the
business combination had occurred from the
beginning of the preceding period in the financial
statements, irrespective of the actual date of
the combination. However, where the business
combination had occurred after that date, the prior
period information is restated only from that date.

• The balance of the retained earnings appearing in the
financial statements of the transferor is aggregated
with the corresponding balance appearing in the
financial statements of the transferee or is adjusted
against general reserve.

• The identity of the reserves are preserved and the
reserves of the transferor become the reserves of
the transferee.

• The difference, if any, between the amounts
recorded as share capital issued plus any additional
consideration in the form of cash or other assets
and the amount of share capital of the transferor
is transferred to capital reserve and is presented
separately from other capital reserves.

2.18 Contributed Equity

Equity shares are classified as equity.

Incremental costs directly attributable to the issue of
new shares are shown in equity as a deduction, net of
tax, from the proceeds.

2.19 Cash dividends to equity holders

The Company recognises a liability to make cash
distributions to equity holders when the distribution
is authorised and is no longer at the discretion of the
Company, on or before the end of the reporting period
but not distributed at the end of the reporting period. A
corresponding amount is recognised directly in equity.

2.20Exceptional items

Exceptional items include income or expense that are
considered to be part of ordinary activities, however
are of such significance and nature that separate
disclosure enables the user of the financial statements
to understand the impact in a more meaningful manner.

Following are considered as exceptional items -

a) Gain or loss on disposal of investments to third
party or to wholly owned subsidiaries at higher or
lower than the cost / book value

b) Write down of investments in subsidiaries, jointly
controlled entities and associates which are
carried at cost in accordance with IND AS 27 to
recoverable amount, as well as reversals of such
write down.

c) Impact of any retrospective amendment requiring
any additional charge to profit or loss.

d) Fair value loss of asset classified as held for sale

e) Gain or loss on fair valuation of Non¬
current Investment till reclassification as
financial investment.

2.21 Critical estimates and judgements

The preparation of financial statements in conformity
with the recognition and measurement principles of
Ind AS that requires management to make accounting
estimates which, by definition, will seldom equal the
actual results. Management also needs to exercise
judgement in applying the Company’s accounting
policies. The estimates and assumptions used in the
accompanying financial statements are based upon
Management’s evaluation of the relevant facts and

circumstances as at the date of the financial statements.
Actual results could differ from these estimates.

Key sources of estimation of uncertainty at the date of
the financial statements, which may cause a material
adjustment to the carrying amounts of assets and
liabilities within the next financial year, is in respect of
impairment of non-current investments and has been
discussed below. Key source of estimation of uncertainty
in respect of current tax expense and payable, employee
benefits and fair value of unlisted subsidiary entities
have been discussed in their respective policies.

The areas involving critical estimates or judgements are:

a) Estimation of current tax expenses and payable

b) Estimation of Deferred tax Assets

c) Estimation of employee benefits

d) Share based payments

e) Impairment of trade receivable

f) Impairment of Investments in subsidiary/JVs
and associates

g) Estimation of significant influence in investments

2.22 Estimation of Impairment on Non-Current
Investment-

The Company carries reviews its carrying value of
investments carried at amortised cost annually, or more
frequently when there is an indication for impairment. If
the recoverable amount is less than its carrying amount,
the impairment loss is accounted for.

Estimates and judgements are continually evaluated.
They are based on historical experience and other
factors, including expectation of future events that may
have a financial impact on the Company and that are
believed to be reasonable under the circumstances.

b. Terms/Rights attached to equity shares

The Company has only one class of equity shares having a par value of I 10 per share. Each holder of equity shares is
entitled to one vote per share. The Company declares and pays dividend in Indian rupees. The dividend proposed by the
Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case
of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the
Company in proportion to their shareholding.

c. Dividends

The Board of Directors in its meeting held on May 16, 2024 had recommended a final dividend of I 12.00 per equity share
having face value of I 10 each which was paid on September 05, 2024 post approval from shareholders. The Board of
Directors in its meeting held on November 08, 2024 had declared an Interim Dividend of I 12.00 per equity share having
face value of I 10 each which was paid on December 04, 2024.

The Board of Directors in its meeting held on May 27, 2025 has recommended a final dividend of I 3.60 per equity share
having face value of I 2 each (post split)[1 18.00 per equity share having face value of I 10 each (pre split)] subject to
approval of shareholders in the ensuing Annual General Meeting.

Nature and purpose of reserves

a) Securities premium

Securities premium reserve is used to record the premium on issue of shares. The reserve can be utilised only for limited
purposes such as issuance of bonus shares in accordance with the section 52 of the Companies Act, 2013.

b) General reserve

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

c) Stock options outstanding account

The stock options based payment reserve is used to recognise the grant date fair value of options issued to employees
under Employee stock option plan.

d) Capital reserve

Capital Reserve represents the difference between cost of investment by the company in HighOrbit Careers Pvt. Ltd, a
wholly owned subsidiary of the company (which was amalgamated with the company pursuant to H’able NCLT order with
appointed date of April 1, 2020) and carrying value of all assets and liabilities and balances in reserve and surpluses of
the transferee company, in accordance with para 16 "Accounting treatment" of the scheme of amalgamation and para 12
of Appendix C of IND AS 103.

e) Equity instruments through other comprehensive income

The Company has elected to recognise changes in the fair value of certain investments in equity securities in other
comprehensive income. These changes are accumulated within the Equity instruments through Other Comprehensive
Income within equity. The company transfers amounts from this reserve to retained earnings when the relevant equity
securities are derecognised.

f) Retained Earnings

Retained earnings are the profits that the Company has earned till date, less any transfers to general reserve, dividends
or other distributions paid to shareholders. Retained earnings include re-measurement loss / (gain) on defined benefit
plans, net of taxes that will not be reclassified to Statement of Profit and Loss.

B) Information concerning the classification of securities Options

Options granted to employees under the Info edge Employee stock option plan are considered to be potential equity
shares. They have been included in the determination of diluted earnings per share to the extent to which they are dilutive.
The options have not been included in the determination of basic earnings per share.

C) The Board of Directors of the Company at their meeting held on February 05, 2025, have approved the sub-division/ split
of each equity share of face value of I 10/- (Rupees Ten only) each, fully paid-up, into 5 (five) equity shares having face
value of I 2/- (Rupees two only) each, fully paid-up.

On April 14, 2025, the approval of the shareholders of the Company was obtained through postal ballot process with a
requisite majority. The record date for the said sub-division/ split has been fixed as May 07, 2025. Accordingly, the impact
of stock split was considered in the computation of basic and diluted Earning per share (EPS) for the year ended March
31, 2025 and comparative figures for previous year have also been adjusted to give effect to such sub-division/split in
accordance with requirements under Ind AS 33, Earnings per share.

(I) Terms & conditions

Transactions related to investment in wholly owned subsidiaries made in debenture/preference share were made at
face value.

All other transactions were made on normal commercial terms and conditions.

All outstanding balances are unsecured and are repayable in cash.

The remuneration to key managerial personnel does not include the provisions made for gratuity and leave benefits, as
they are determined on an actuarial basis for the Company as a whole

26. SHARE BASED PAYMENTS

The establishment of the Info Edge Limited Employee Option Plan(s) are approved by shareholders at annual general meeting.
ESOP scheme 2015 was approved by shareholders through postal ballot on April 16, 2016. The employee stock option plan is
designed to provide incentives to employees generally at and above the designation of managers to deliver long-term returns.
Under the plan, participants are granted options which vest upon completion of three years of service from the grant date.
Participation in the plan is at the board appointed committee's discretion and no individual has a contractual right to participate
in the plan or to receive any guaranteed benefits.

The Company has set up a trust to administer the ESOP scheme under which Stock Appreciation Rights (SAR) and Stock
options (ESOP), with substantially similar types of share based payment arrangements, have been granted to employees. The
scheme only provides for equity settled grants to employees whereby the employees can purchase equity shares by exercising
SAR/options as vested at the exercise price specified in the grant, there is no option of cash settlement. The SAR/options
granted have a vesting period of maximum 3 years from the date of grant.

Fair value of SAR/options granted

The fair value at grant date is determined using the Black Scholes Model which takes into account the exercise price, term of
option, the share price at grant date, and expected price volatility of the underlying share, the expected dividend yield and the
risk free interest rate for the term of option.

Model inputs for Options/SAR granted during the year are as follows:-

Options are granted for no consideration and vest upon completion of service for a period of three years. Vested options are
exercisable for a period of four years after vesting.

27. The Company has received various legal notices of claims/lawsuits filed against including suits relating to infringement
of Intellectual Property Rights (IPR), Consumer suits, etc.in relation to the business activities carried on by it. The
management based on internal assessment and legal opinion obtained, believes that no material liability is likely to arise
on account of such claims/law suits.

28. The Company is primarily in the business of internet based service delivery operating in four service verticals through
various web portals in respective verticals namely recruitment solutions comprising primarily naukri.com, other
recruitment related portals and ancillary services related to recruitment, 99acres.com for real estate related services,
Jeevansathi.com for matrimony related services and Shiksha.com for education related services.

The Managing Director & Chief Executive Officer of the Company examines the Company's performance both from a
business & geographical prospective and has identified as reportable segment of its business which are Recruitment

Notes: -

a) Domestic segment revenue includes sales and services to customers located in India and overseas segment
(primarily in Gulf countries) revenue includes sales and services rendered to customers located outside India.
Segment revenue is measured in the same way as in the Statement of Profit and loss.

b) Segment assets includes fixed assets, trade receivables, cash and bank balances (except dividend bank account),
loans & advances and other current assets and are measured in the same way as in the financial statements. These
assets are allocated based on the operations of the segment and the physical location of the assets. Unallocated
assets include dividend bank accounts, investments, Interest accrued and Deferred Tax asset.

c) Segment liabilities includes borrowings, trade payable, other current liabilities, provisions and other financials
liabilities. Segment liabilities are measured in the same way as in the financial statements. These liabilities are
allocated based on the operations of the segment.

29. As at March 31, 2025 the Company had I0.14 Mn (March 31,2024: I0.30 Mn ) outstanding with Yes Bank, I 1.39 Mn (March
31, 2024 I 1.18 Mn ) outstanding with HDFC Bank and Nil (March 31, 2024 I 0.04 Mn) outstanding with Indusind Bank in
unclaimed dividend account. These amounts are not available for use by the Company and will be credited to Investor
Education & Protection Fund as and when due.

30. EMPLOYEE BENEFITS

The Company has classified the various benefits provided to employees as under:

A. Defined Contribution Plans

The Company has a defined contribution plan in respect of provident fund. The minimum amount of contribution to
be made by the employer is set at a rate of 12% of wages, subject to ceiling of I 1,800 per month as defined under the
Employees Provident Fund Scheme,1952. The contributions are made to registered provident fund administered by the
Government. The obligation of the group is limited to the amount contributed and it has no further contractual nor any
constructive obligation.

During the year, the Company has recognised the following amounts towards define contribution plan in the Statement
of Profit and Loss -

C. Defined Benefit Plans

Contribution to Gratuity Funds - Life Insurance Corporation of India, Group Gratuity Scheme

The Company provides for gratuity for employees in India as per the Payment of Gratuity Act, 1972. Employees who
are in continuous service for a period of 5 years are eligible for gratuity. The amount of gratuity payable on retirement/
termination is the employees last drawn basic salary per month computed proportionately for 15 days salary multiplied
for the number of years of service. The gratuity plan is a funded plan and the Company makes contribution to recognised
funds in India.

(F) Risk exposure

Through its defined benefit plans, the group is exposed to a number of risks, the most significant of which are detailed below:

Asset volatility

The plan liabilities are calculated using a discount rate set with reference to bond yields; if plan assets underperform this
yield, this will create a deficit. The gratuity fund is administered through Life Insurance Corporation of India (insurer) under
its group gratuity scheme. Accordingly almost the entire plan asset investments is maintained by the insurer. These are
subject to interest rate risk which is managed by the insurer.

Changes in bond yields

A decrease in bond yields will increase plan liabilities, although this will be partially offset by an increase in the value of
the plans’ assets maintained by the insurer.

The gratuity fund is administered through Life Insurance Corporation(LIC) of India under its Group Gratuity Scheme.

(G) Defined benefit liability and employer contribution

The Company generally eliminates the deficit in the defined benefit gratuity plan with in next one year.

Expected contribution to the post employment benefit plan (Gratuity) for the year ending March 31, 2026 is I 235.68 Mn.
The weighted average duration of the defined benefit obligation is 6 years (March 31, 2024- 8 years).

The expected maturity analysis of undiscounted post employment benefit plan (gratuity) is as follows:

31. During the year ended March 31, 2025, the Company has issued 200,000 nos. equity shares (March 31, 2024; 200,000)
each fully paid up I 10/- respectively to Info Edge Employees Stock Option Plan (ESOP) Trust, which have been duly listed
in the respective Stock Exchanges, ranking pari passu with the existing equity shares of the Company. The ESOP trust
has in turn issued 307,264 nos. equity shares and 114,692 nos. equity shares fully paid up to the employees during the
year ended March 31, 2025 & year ended March 31, 2024 respectively.

32. Based on the information available with the Company, the Company has following balances due to suppliers registered
under the "The Micro, Small and Medium Enterprises Development Act, 2006”('MSMED Act’). The disclosures pursuant
to the said MSMED Act are as follows:

33. During the year ended March 31, 2021 , the Company had issued 6,067,961 nos. equity shares of I 10/- each fully paid up
at I 3,090/- per share (including securities premium of I 3,080/- per share) to qualified institutional buyers on August 08,
2020 pursuant to Qualified Institutional Placement (QIP) document, dated August 07, 2020, as per provisions of section
42 of Companies Act, 2013 read with rule 14 of the Companies (Prospectus and Allotment of Securities) Rules 2014, and
Chapter VIII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations,
2009 which have been listed in the respective Stock Exchanges on August 10, 2020.

Expenses incurred in relation to QIP paid/provided for amounting to I 459.68 Mn has been adjusted from Securities
Premium Account and the utilisation out of such net amount of I 18,290.32 Mn is given below. The balance amount of
QIP proceeds remains invested in Mutual funds (debt) & Term Deposits with banks.

34. The Board of Directors in their meeting held on August 09, 2024 approved the Scheme of Amalgamation between Info
Edge (India) Limited (Transferee Company) and Axilly Labs Private Limited (Transferor Company 1), Diphda Internet
Services Limited (Transferor Company 2) & Zwayam Digital Private Limited (Transferor Company 3), the wholly owned
subsidiaries of the Transferee Company, and their respective shareholders and creditors. Subsequently, the board of
directors on the meeting held on 05 February, 2025 modified the earlier approved merger scheme and approved the
inclusion of Allcheckdeals India Private Limited (Transferor Company 4) being wholly owned subsidiary of the transferee
Company in the merger scheme.

The transferee Company has filed the Scheme along with relevant documents with the BSE Limited and the National
Stock Exchange of India Limited and is in the process of filing joint application with the National Company Law Tribunal,
New Delhi Bench (NCLT) under sections 230 to 232 of the Companies Act, 2013 read with Companies (Compromises,
Arrangements and Amalgamation) Rules, 2016 including any statutory modification or re-enactment or amendment
thereof, for amalgamation of the aforesaid Companies.

35. During the Financial year ended March 31, 2022, consequent to transfer of specified investment in Joint Venture and
classification as financial investments, the Company had recorded unrealised mark to market gain of I 89,411.94 Mn as
exceptional item in Standalone financial statements along with then applicable deferred tax charge. Subsequent to such
transfer mark to market gain/ losses between fair value on reporting date and cost of conversion are being recorded
through Other Comprehensive Income along with applicable deferred tax charge which is I 126,756.30 Mn as at year
ended March 31, 2024 and I 23,176.93 Mn as at March 31, 2025.

During the year ended March 31, 2025, due to change in Finance Act 2024, the effective tax rate has been revised from
11.44% to 14.30% on long term capital gain. Therefore, the incremental deferred tax charge on account of such increase
in tax rates amounting to I 2,596.77 Mn and I 3,625.23 Mn have accordingly been accounted for in Profit and Loss and
Other Comprehensive Income respectively in Financial Statements in accordance with applicable Ind AS.

36. There are numerous interpretative issues relating to the Supreme Court (SC) judgement on PF dated February 28, 2019.
As a matter of caution, the Company has made a provision on a prospective basis from the date of the SC order. The
company will update its provision, on receiving further clarity on subject.

37. The Social Security 2020 (Code), which received the President Assent on September 28, 2020 subsumes nine laws
relating to social security retirement and employee benefits, including the Employees Provident Fund and Miscellaneous
Provisions Act, 1952 and Payment of Gratuity Act, 1972. The effective date of the Code is yet to be notified. The Company
will assess and record the impact of the Code, if any, when it comes into effect.

39. The Company considers that it controls the Alternative investment funds ('AIF') namely Capital 2B Fund I (Scheme of
Capital 2B) & IE Venture Investment Fund II(scheme of Info Edge Capital) even though it owns less than 50% out of the
total issued units to its investors i.e., it currently holds 45.47% & 44.80% respectively. This is because the Investment
manager, namely, Smartweb Internet Services Ltd., is Wholly owned subsidiary of the Company and has the power to
govern all key financial and operating policy decisions (relevant activities) including all significant decisions related to
forming investment strategy, its execution, acquisition of investment, making additional investment, holding and disposal
of investments including prices thereof. All members of the Investment Committee are appointed by the Investment
manager who has unilateral right for such appointment/ removal. Investment manager cannot be removed without cause
or without the affirmation of the Company. Thus, the Company along with Investment Manager is acting as principal to
Control the Funds.

40. As per Section 135 of the Companies Act, 2013 ('Act'), a Corporate Social Responsibility (CSR) committee had already
been formed by the Company in earlier years. The main areas for CSR activities, as per the CSR policy of the Company are
promoting education, training to promote sports and contribution to appropriate funds set up by the Central Government,
further the CSR Committee may consider other CSR activities subject to the condition that such activities relate to the
subjects enumerated in Schedule VII of the Act.

Notes to be read with above ratios respectively:

1 Current ratio is calculated on Current asset over current liability.

2 Debt Equity ratio is computed on total Debt over total equity(i.e. Equity and other equity).

3 Debt service coverage ratio is computed on Earning available for debt service (Net profit after taxes Non-cash
operating expenses like depreciation, ESOP, Interest and other adjustments) over debt service (Interest & Lease
payments principal payments)

4 Return on equity is computed on Net profit after tax over Average shareholder's equity

5 Inventory Turnover ratio is not applicable as Company does not have any inventory, being a service company.

6 Net Credit sales here means total credit billing less sales return and is computed on Net credit billing over average trade
receivables

7 Trade payable turnover ratio is computed on credit purchase over average trade payable

8 Net capital turnover ratio is computed on Revenue from operations over working capital i.e. Current Assets less Current
Liabilities

9 Net profit ratio is computed on Net profit of the year(i.e. Profit after tax and exceptional item) over revenue from
operations.

10 Return on Capital employed is computed on Earning before Interest and tax (after exceptional item) over capital
employed (Tangible Net Worth Total Debt Deferred Tax-Equity instrument through OCI)

11 Return on Investment is computed on Income earned on Investment (including gain recorded in exceptional item & other
comprehensive income) over weighted average Investment.

Return on Investment is calculated for treasury funds (including Fixed deposit & Mutual fund) and for financial
investments which are valued at mark to market.

d) Fair value of financial assets and liabilities measured at amortised cost

The carrying amounts of loans, trade receivables, cash and cash equivalents, other bank balances, other financial assets
and trade payables are considered to be the same as their fair values, due to their short-term nature. The fair values for
security deposits , Investment in preference shares & investment in debentures and borrowings are calculated based
on cash flows discounted using a current lending rate, however the change in current rate does not have any significant
impact on fair values as at the current period end.

For financial assets and liabilities that are measured at fair value, the carrying amounts are equal to the fair values.

(e) Valuation processes

The Company uses third party valuers to perform the valuations of the unquoted equity shares, preference shares
and debentures required for financial reporting purposes for Level 3 purposes other than investment in compulsorily
redeemable preference shares and debentures (Debt instruments) which are done by Finance department of the company.

The main Level 3 inputs for these unlisted securities are derived and evaluated as below.

• Discount rates are determined using a capital asset pricing model to calculate a pre-tax rate that reflects current
market assessments of the time value of money and the risk specific to the asset.

• Earnings growth factor for unlisted equity securities are estimated based on market information for similar types of
companies to the extent available.

Significant estimates

The fair value of financial instruments that are not traded in an active market is determined using valuation techniques.
The group uses its judgement to select a variety of methods and make assumptions that are mainly based on market
conditions existing at the end of each reporting period. For details of the key assumptions used and the impact of changes
to these assumptions see (c) and (e) above.

47. FINANCIAL RISK AND CAPITAL MANAGEMENT
A) Financial risk management framework

The Company’s board of directors has overall responsibility for the establishment and oversight of the Company’s
risk management framework. The board has established the Risk Management Committee, which is responsible for
developing and monitoring the Company’s risk management policies. The Committee holds regular meetings and report
to board on its activities.

The Company’s risk management policies are established to identify and analyse the risks faced by the Company, to set
appropriate risk limits and controls and to monitor risks and adherence to limits. Risk management policies and systems
are reviewed regularly to reflect changes in market conditions and the Company’s activities. The Company, through its
training and management standards and procedures, aims to maintain a disciplined and constructive control environment
in which all employees understand their roles and obligations.

The audit committee oversees how management monitors compliance with the Company’s risk management policies and
procedures, and reviews the adequacy of the risk management framework in relation to the risks faced by the Company.
The audit committee is assisted in its oversight role by internal audit. Internal audit undertakes both regular and ad hoc
reviews of risk management controls and procedures, the results of which are reported to the audit committee.

a) Credit risk

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet
its contractual obligations, and arises principally from the Company's receivables from customers.

Trade and other receivables

The Company’s exposure to credit risk is influenced mainly by the individual characteristics of each customer. However,
management also considers the factors that may influence the credit risk of its customer base, including the default risk
of the industry and country in which customers operate.

A default on a financial asset is when the counterparty fails to make contractual payments within 90 days of when they
fall due. This definition of default is determined by considering the business environment in which Company operates
and other macro-economic factors.

Credit quality of a customer is assessed based on its credit worthiness and historical dealings with the Company, market
intelligence & goodwill. Outstanding customer receivables are regularly monitored.

The Company has established an allowance for impairment that represents its expected credit losses in respect of trade
and other receivables. The management uses a simplified approach for the purpose of computation of expected credit
loss for trade receivables and 12-month expected credit loss for other receivables. An impairment analysis is performed
at each reporting date on an individual basis for major parties. In addition, a large number of minor receivables are
combined into homogenous categories and assessed for impairment collectively. The calculation is based on historical
data of actual losses. The Company evaluates the concentration of risk with respect to trade receivables as low.

b) Liquidity risk

Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial
liabilities that are settled by delivering cash or another financial asset. The Company’s approach to managing liquidity is
to ensure, as far as possible, that it will have sufficient liquidity to meet its liabilities when they are due, under both normal
and stressed conditions, without incurring unacceptable losses or risking damage to the Company’s reputation.

The Company's treasury maintains flexibility in funding by maintaining liquidity through investments in liquid funds and
other committed credit lines. Management monitors rolling forecasts of the group’s liquidity position (comprising the
undrawn borrowing facilities below) and cash and cash equivalents on the basis of expected cash flows.

(i) Financing arrangements

The Company has no undrawn borrowing facilities at the end of the reporting year.

(ii) Maturities of financial liabilities

The amount disclosed in the below table represent the contractual undiscounted cash flows.

(c) Market risk

Market risk is the risk arising from changes in market prices - such as foreign exchange rates and interest rates - will
affect the Company’s income or the value of its holdings of financial instruments. Market risk is attributable to all market
risk sensitive financial instruments including foreign currency receivables and payables and long term debt. The Company
is exposed to market risk primarily related to foreign exchange rate risk, interest rate risk and the market value of the
investments. Thus, the exposure to market risk is a function of investing and borrowing activities and revenue generating
and operating activities in foreign currency.

(i) Currency risk

The Company is exposed to currency risk on account of foreign currency transactions including recognised assets and
liabilities denominated in a currency that is not the Company's functional currency (I), primarily in respect of US$, United
Arab Emirates Dirham (AED), Saudi Riyal (SAR), Qatari Riyal (QAR) and Bahraini Dinar (BHD). the Company ensures that
the net exposure is kept to an acceptable level and is remain a net foreign exchange earner.

(ii) Interest rate risk

Interest rate risk can be either fair value interest rate risk or cash flow interest rate risk. Fair value interest rate risk is the
risk of changes in fair values of fixed interest bearing investments because of fluctuations in the interest rates. Cash flow
interest rate risk is the risk that the future cash flows of floating interest bearing investments will fluctuate because of
fluctuations in the interest rates.

Exposure to interest rate risk

The Company's borrowings and deposits/loans are all at fixed rate and are carried at amortised cost. They are therefore
not subject to interest rate risk as defined in Ind AS 107, since neither the carrying amount nor the future cash flows will
fluctuate because of a change in market interest rates.

48. CUSTOMER CONTRACT BALANCES

The Company is following Ind AS 115 on Revenue from Contracts with Customers, using the modified retrospective
approach. The standard was applied retrospectively only to contracts that were not completed as at the date of initial
application and comparative information was not restated in the statement of profit and loss. The adoption of the
standard did not have any material impact on the recognition and measurement of revenue and related items in the
financial statements. Revenue from sale of services is recognised over the period of time.

(iii) Price risk
Exposure

The Company’s exposure to securities price risk arises from investments held in mutual funds and classified in the
balance sheet at fair value through profit or loss. To manage its price risk arising from such investments, the Company
diversifies its portfolio. Further these are all debt base securities for which the exposure is primarily on account of interest
rate risk. Quotes (NAV) of these investments are available from the mutual fund houses.

Profit for the year would increase/decrease as a result of gains/losses on these securities classified as at fair value
through profit or loss.

B) Capital management
a) Risk management

The Company's objectives when managing capital is to safeguard its ability to continue as a going concern, so that they
can continue to provide returns for shareholders and benefits for other stakeholders. The capital of the Company consist
of equity capital and accumulated profits.

The Company avails borrowings only for buying vehicles.

The Company has as a matter of practical expedient recognised the incremental costs of obtaining a contract as an
expense when incurred, since the amortisation period of the asset that the entity otherwise would have recognised is
generally one year or less.

As per our report of even date

For S.R. Batliboi & Associates LLP For and on behalf of the Board of Directors of

Chartered Accountants Info Edge (India) Limited

ICAI Firm Registration Number: 101049W/E300004 CIN: L74899DL1995PLC068021

per Sanjay Bachchani Hitesh Oberoi Chintan Thakkar

Partner Managing Director Director & CFO

Membership Number 400419 DIN: 01189953 DIN: 00678173

Jaya Bhatia

Company Secretary
Membership number: A33211

Place: Noida Place: Noida

Date: May 27, 2025 Date: May 27, 2025