DIGITAL

TRANSFORMATION
GROWING DIGITISATION AMIDST A DEBILITATING PANDEMIC

ANNUAL REPORT 2020-21

 CONTENTS

2 INFO EDGE (INDIA) LIMITED ANNUAL REPORT 2020-21

ON
ATING PANDEMIC
1
4 OBITUARY 8
2 BOARD OF DIRECTORS
10 CEO’S MESSAGE
16 FINANCIAL HIGHLIGHTS & BUSINESS SNAPSHOTS
20 MANAGEMENT DISCUSSION & ANALYSIS
53 COVID-19
EMERGENCY RESPONSE
 3 4 5
59 REPORT ON 143 AUDITORS’ REPORT 203

CORPORATE (STANDALONE)
GOVERNANCE
149 BALANCE SHEET 207
92 CORPORATE (STANDALONE)
GOVERNANCE
CERTIFICATE 150 STATEMENT OF 208
PROFIT & LOSS
93 DIRECTORS’ (STANDALONE)
REPORT
151 CASH FLOW 209
114 ANNEXURES STATEMENT
TO DIRECTORS’ (STANDALONE)
REPORT
153 NOTES TO 211
FINANCIAL
STATEMENT
(STANDALONE)
INFO EDGE (I
1 OBITUARY
 While COVID-19 had an adverse impact on the economy and businesses all around
human lives due to the virus has left lakhs of families shattered.
Despite our best efforts at Info Edge we too lost a few young colleagues to the de
our heartfelt condolences to their families.
Sheelendra, Shivesh, Jaydeep and Aditya were joyful souls who were loved by the
put the interests of their team members and of Info Edge ahead of their own.
While we mourn their premature departure we would not be doing justice to them
we don’t celebrate the legacy they leave behind at Info Edge. They have left us mu
by. With wet eyes and a heavy heart we pay our homage to them.

4 INFO EDGE (INDIA) LIMITED ANNUAL REPORT 2020-21

5
AUDITORS’ REPORT

(CONSOLIDATED)

BALANCE SHEET
(CONSOLIDATED)

STATEMENT OF
PROFIT & LOSS
(CONSOLIDATED)

CASH FLOW
STATEMENT
(CONSOLIDATED)

NOTES TO FINANCIAL
STATEMENT
(CONSOLIDATED)

INFO EDGE (INDIA) LIMITED ANNUAL REPORT 2020-21 3

 and businesses all around, the tragic loss of
attered.
oung colleagues to the deadly virus. We extend

uls who were loved by their colleagues and always

e ahead of their own.
t be doing justice to them if
Edge. They have left us much to remember them
e to them.
SHEELENDRA SINGH GAHLAUT
QA – Project David
For all who don’t know him personally - He was a part of
the Bigshyft QA team and was working as a lead. We will
miss his words, his guidance, and his friendship. He was a
valuable part of our team and our entire team thought
highly of him. He was always willing to
go the extra mile for anyone that worked with him. His
energy could light up any discussion, and his
perseverance for doing what is right ensured an overall
respect for his views. He was an amazing mentor and
guide to his team. He was always more focused on the
good of the department than on his own benefit. He
made many great contributions to the product and helped
it move forward in numerous ways. His work here will be
remembered for a long time.
He was a remarkable man and everyone at Bigshyft will
always be grateful for having known him. He will be
missed greatly. May god give strength to his family.
Thanks
Harpuneet Singh Rekhi Sr. V.P.
 JAYDEEP VISHWAKARMA
Technology, Naukri
Jaydeep joined us in Dec 2016 and contributed across
several Projects for [Link].
For all his colleagues he came across as a humble, sincere
and hardworking person who was always willing to go
that extra mile to accomplish things. He will be missed by
his team and Colleagues. He is survived by his wife and a
6 year old son. We pray for his peace and may his family
get all the courage and strength to bear this irrecoverable
loss.”
Thanks
Arvind Heda, E.V.P.
Engineering, Technology, Naukri

6 INFO EDGE (INDIA) LIMITED ANNUAL REPORT 2020-21

SHIVESH KUMAR
NIS – US & Europe
We used to know Shivesh as a happy go lucky person whom you
would often find cracking jokes & making the atmosphere live with
his presence. He was one the most important pillars of NIS team
and
his performance always used to play a vital role in team numbers.
During his hospitalization also, he was replying to his client’s
emails and was pretty confident that he will be back soon with full
energy.
More than a colleague he was a friend to everybody. You may be
a new joinee, a senior member in the system or belong to a
different department altogether, it was difficult not to notice him
when he
was around. I can’t think of a single office party when his dance
moves and enthusiasm were not talked about. We as his
colleagues would have wanted him to be around us so that we
could continue having loads of fun in the office parties & team
celebrations. Such was his persona!!
He will be dearly missed by all of us.
Regards Shiva Gupta
Sr. Z.M., Naukri International Sales
INFO EDGE (INDIA) LIMITED ANNUAL REPORT 2020-21 5
ADITYA GUPTA
Corporate Sales, Naukri
What a splendid person he was, a good mentor, a great friend to
all and a helpful colleague. The calming factor in any storm. A
skilled sales person coupled with a friendly nature made him an
endearing person even to his business associates and clients.
Aditya has been taken away much too early from amongst us,
filling our hearts with a sorrow deep and acute. His loss is going to
be there forever, tangible and real, but we can find comfort with
the thought that we had the privilege to know him.
May he rest in eternal peace. Regards
Arif, E.V.P.
Sales Naukri, West
2
8 BOARD OF DIRECTORS
10 CEO’S MESSAGE
16 FINANCIAL HIGHLIGHTS & BUSINESS SNAPSHOTS
20 MANAGEMENT DISCUSSION & ANALYSIS
53 COVID-19 EMERGENCY RESPONSE

INFO EDGE (
INFO EDGE (INDIA) LIMITED ANNUAL REPORT 2020-21 7
 Kapil Kapoor Non-Executive Chairman

BOARD OF DIRECTORS                 

Sanjeev Bikhchandani
Founder & Executive Vice-Chairman
Hitesh Oberoi
Managing Director &
Chief Executive Officer Chintan Thakkar
Whole-time Director & Chief Financial Officer

Ashish Gupta
Independent Director Saurabh Sriv
Independent D

8 INFO EDGE (INDIA) LIMITED ANNUAL REPORT 2020-21

COMPANY SECRETARY
MM Jain
STATUTORY AUDITORS
S.R. Batliboi & Associates LLP Chartered Accountants
(FRN:101049W/E300004)
SECRETARIAL AUDITORS
Chandrasekaran Associates, Company Secretaries
INTERNAL AUDITORS
T.R. Chadha & Co. LLP, Chartered Accountants
BANKERS
ICICI Bank Limited HDFC Bank Limited Citibank NA
State Bank of India Yes Bank
Axis Bank Indusind Bank Kotak Bank Bank of Baroda
Deutsche Bank
Standard Chartered Bank HSBC
Credit Suisse AG
REGISTERED OFFICE
GF-12A, 94
Meghdoot Building, Nehru Place New Delhi-110 019 India
CIN: L74899DL1995PLC068021
CORPORATE OFFICE
B-8, Sector-132 Noida – 201 304 Uttar Pradesh, India
 Naresh Gupta
Independent Director
Bala C Deshpande
Independent Director
Sharad Malik
Independent Director
Geeta Mathur
Independent Director

INFO EDGE (I
CEO’S MESSAGE
EDGE (INDIA) LIMITED ANNUAL REPORT 2020-21
10 INFO
ORS                     

Bikhchandani
& Executive Vice-Chairman

Chintan Thakkar

Saurabh Srivastava
Independent Director
INFO EDGE (INDIA) LIMITED ANNUAL REPORT 2020-21 9
“ COVID- 19 HAS C ATALYS ED DIGITAL TRANSFORM AT ION
ACROSS BUSINESS MODELS, CHANNELS AND TOUCH
POINTS, CRE AT ING A SHIFT IN HUMAN BEHAVIOUR DRIVEN BY THE NEED
ORGANISAT IONAL AGILITY AS WELL AS CLOSER TIES WITH CUSTOMERS IN
GLOBAL ENVIRONMENT.”

Dear Shareholder
FY2021 was no ordinary year, with economic activities across the world com
worst global pandemic seen since the influenza epidemic of 1919-21. For m
will be a ‘once in a lifetime’ event that has had an everlasting impact on the

COVID- 19 RESPONSE
I take this opportunity to share my
deepest condolences with all Info Edge
stakeholders who have lost a family
member or a friend or a
colleague to this disease. I also extend my
warm gratitude to all healthcare workers
and volunteers who worked day and night
to save people’s lives.
Their relentless efforts amidst incredibly
difficult circumstances were exemplary.

INFO EDGE (IN

TALYS ED DIGITAL TRANSFORM AT ION
ODELS, CHANNELS AND TOUCH
A SHIFT IN HUMAN BEHAVIOUR DRIVEN BY THE NEED FOR GRE ATE R
GILITY AS WELL AS CLOSER TIES WITH CUSTOMERS IN A CHANGING
NT.”

Dear Shareholder
FY2021 was no ordinary year, with economic activities across the world coming to a virtual standstill amidst the
worst global pandemic seen since the influenza epidemic of 1919-21. For most of us, the COVID-19 pandemic
will be a ‘once in a lifetime’ event that has had an everlasting impact on the way we lead our lives.

COVID- 19 RESPONSE
I take this opportunity to share my deepest condolences with all Info Edge stakeholders who have lost
a family member or a friend or a colleague to this disease. I also extend my warm gratitude to all
healthcare workers and volunteers who worked day and night to
save people’s lives. Their relentless efforts amidst incredibly difficult circumstances were exemplary.
You might recall, in my last years’ communication, I had shared that we at Info Edge had prepared
adequately to deal with the first wave of COVID-19 that hit India around March-April 2020. With the full
support of our IT, HR and Admin teams, we seamlessly moved into a ‘work from home’ operating
environment protecting most of our employees from the pandemic. We recalibrated our business
strategies and most of our core businesses were back to growing strongly in the 2nd Half of FY2021.
Infact Q4 FY2021 was the best quarter ever for most of our businesses.
The second wave of COVID-19 during April-May 2021 dented the fast recovery but not as much as the
first wave even though it was in many ways much more brutal. The sheer human suffering during this
phase was significantly higher. About 20% of our employees contracted COVID-19 in this period. More
than half had at least one close family member who was impacted. As an organisation, we stepped up
our
efforts to attend to the well-being of all our stakeholders — employees, partners and society at large.
A helpline was set up to provide information and timely support to our employees and their loved ones.
At Info Edge, we saw the need for

INFO EDGE (INDIA) LIMITED ANNUAL REPORT 2020-21 11

COVID-19 RELIEF RESOURCES DEPLOYED
DEDICATED HELPLINE
MEDICINE SUPPLY
OXYGEN SUPPORT
AMBULANCE SUPPORT
HOSPITAL BEDS
VERIFIED INFORMATION DISSEMINATION
VACCINATION DRIVES

12 INFO EDGE (INDIA) LIMITED ANNUAL REPORT 2020-21

 oxygen concentrators and we attempted to make the supply available for all employees, their families,
extended families, some of our group companies, as well as employees of investee companies. It was
especially important to get quick supply of resources like basic to advanced medicines, oxygen support,
ambulance, hospital beds, healthcare services at home and other healthcare needs. Conscious
efforts were made and a team was deployed to give verified information to people. Since a lot of our
employees were working from home, they had gone back to their hometowns in UP, Bihar, MP,
Jharkhand etc.
Getting help to them in these places was not easy but we managed in quite a few cases.
Unfortunately, despite our sincerest efforts, it is with deep regret that I convey that we lost four young
employees to covid. Such was the brutal impact of the second wave of COVID-19.
Once the emergency was over, the Company shifted gears to focus on the vaccination programme for
employees and their families, which was further extended to some clients especially in 99acres. In the
initial phase, the cities covered included Noida, Gurugram, Mumbai, Bangalore, Hyderabad, Chennai and
Pune. As we go to print, so far the company has helped conduct about 2,800 vaccinations, of this about
1,100 to employees, their family members and support staff and about 1,700 to clients. This drive is
being extended further so as to reach out to more employees and customers. Though I am fairly
confident that the country will bounce back from this deadly pandemic, I hope that as a nation we gear
up and take all possible measures to prevent another wave of this deadly disease.
INFO EDGE’S BUSINESSES
Moving on to developments in InfoEdge’s businesses in FY2021, there has certainly been a short-term
negative impact. From a long-term perspective, however, there are some clear positives. Long term
growth in all our businesses is related to the pace of adoption of the ‘digital way’ of doing things by our
customers and users. COVID-19 has catalysed digital adoption of services and forced a shift in behaviour
in many businesses. It has spurred the adoption of online ordering, digital goods and contactless digital
payments — resulting in a surge in volumes across online grocery stores, small retail outlets, online
pharmacies, vegetable and fruit vendors, recharges, bill payments as well as OTT (telecom and media)
and EdTech players. In these difficult times, the digital ecosystem built up over the years has proven
crucial in fulfilling business transactions, peer-to-peer transfers as well as government direct benefit
transfers.
Simply put, COVID-19 has provided a major fillip to digitisation of processes across the value chain,
fundamentally redefining the overall business landscape. Customer behaviour and preferred interactions
are dramatically changing. It is not only about digitising. This shift
also requires revisiting the entire value chain which comprises not just the customer’s journey, but also
other participants, especially merchants. A collaborative ecosystem of stakeholders committed to digital
transformation is set to be the game changer and Info Edge’s
businesses form intrinsic parts of this digital value chain.

21
The company has however been on a
strong revival path in the second half of
FY2021.
Deferred sales revenues were at `5,207.86
million as on March 31, 2021 against
`4,655.94 million on March 31, 2020 —
representing an annual growth of 11.85%.

In terms of our core businesses, recruitment solutions had a strong Q4, FY2
billings. After a sharp fall in the first half, we witnessed secular growth in th
billings, platform usage and the number of customers. Predominantly, the r
picking up in the IT and IT enabled services sector, even as some traditiona
stress. Recruiter engagement with the platform improved further in Q4, aga
Digital professionals picking up. We refocussed our marketing activities on b

INFO EDGE (IN

 In this business environment, we continue to focus on long term investments across all our platforms
— enhancing our product offerings, building brand equity, adopting and developing new technologies
and enhancing the overall skill set of our people to adapt to the rapidly transforming eco-system.
Across our businesses, we are stressing on using enhanced audio-visual tools to create greater
customer connect, deploying various Machine learning algorithms to
improve the user experience at different touchpoints and using business analytics to create more
relevant offerings for different user segments. The overall goal is to further extend our market reach to
bring in new customers and provide our existing customers more customised value- added services to
create even longer-term engagements.
The financial performance of our business was adversely affected by the lockdown in H1 of FY2021.
Yet, given the difficulties, revenues and profits generated by the Company for FY2021 are very
creditable. Even under very difficult market conditions, standalone revenue reduced by
13.68% to `10,985.97 million in FY2021, while operating EBITDA reduced by 31.1% to `2,774.96
million. By Q4 things had bounced back strongly though and we generated record cash profits.
The reduction in profitability is largely on account of the fact that even as revenue declined, we
continued with all our endeavours to improve the long-term competitive positioning of the Company.
Consequently, while some short-term cost management measures were implemented, long-term
investments in people and technology continued unabated resulting in fixed costs remaining high
despite lower revenues.
The company has however been on a strong revival path in the second half of FY2021. Deferred sales
revenues were at `5,207.86 million
as on March 31, 2021 against `4,655.94 million on March 31, 2020 —
representing an annual growth of 11.85%. The second wave of COVID-19 did not have a severe impact
on our business and we expect to bounce back strongly in FY 2022.
I would like to take this opportunity to thank Institutional investors for continuing to repose faith in our
business even in this difficult market environment. We successfully raised `18,750 million from a QIP
issue in August 2020. We propose to utilise the net proceeds to meet the funding requirements of our
operating businesses and for general corporate purposes including acquisitions as a part of our medium
term growth strategy. With this, the Company’s cash balance as on March 31, 2021 was about `35,600
million versus `14,400 million as on March 31, 2020.
CORE BUSINESSES

In terms of our core businesses, recruitment solutions had a strong Q4, FY2021 with a 22.05% YoY growth in
billings. After a sharp fall in the first half, we witnessed secular growth in the second half with an increase in
billings, platform usage and the number of customers. Predominantly, the revival was led by hiring demand
picking up in the IT and IT enabled services sector, even as some traditional sectors continue to be under
stress. Recruiter engagement with the platform improved further in Q4, again largely led by demand for IT and
Digital professionals picking up. We refocussed our marketing activities on building the Naukri brand

INFO EDGE (INDIA) LIMITED ANNUAL REPORT 2020-21 13

 NAUKRI
For the brand, we redefined our
marketing strategy limiting expenses and
focused on targeting increase in revenue
per customer. Simultaneously, we
maintained our market share of 80% plus
in the country’s traditional online
classified recruitment business.
99ACRES
The 99acres business bounced back very
strongly in H2 and both traffic and
revenue numbers hit an all-time high in
Q4. Going forward, we expect the share
of online in the overall spend for real
estate advertisers to increase.

14 INFO EDGE (INDIA) LIMITED ANNUAL REPORT 2020-21

amongst relevant audiences using insightful trends and analytics and maintained our market share of
80% plus in the country’s traditional online classified recruitment business despite cutting marketing
costs. As the hiring market picks up the emphasis in Naukri will shift to better monetisation of its large
traffic leadership and database. To implement this, we are not only deploying advanced technological
tools but also working on creating differentiated product offerings for our larger customers. The
acquisition of recruitment portals like iimjobs, acquired last year, specifically oriented to premium
management jobs and hirist, a specialised platform for premium IT hiring will also help us get a higher
share of the recruitment spend wallet from our larger customers.
In June 2021, we completed the 100% acquisition of Bengaluru-based Zwayam Digital Private Limited
(Zwayam), which is engaged in the business of providing SAS based end-to-end recruitment shortlisting
and screening solutions to clients. Zwayam revenue for FY2021 was about `64.60 million. This
acquisition will help us further broadbase our recruitment offerings to HR Managers.
In July 2021, we completed another 100% acquisition of Bengaluru- based Axilly Labs Private Limited
(Doselect). DoSelect is engaged in the business of providing technical assessment services to its clients
for recruitment and learning purposes. It delivers these services via its technical assessment platform
‘[Link]’. This acquisition would help the Company to offer a new variety of services under its
flagship brand [Link]. DoSelect revenue for FY2021 stood at about `42.30 million.
Amongst all our businesses, 99acres was the worst hit by the lockdown in Q1 FY2021 and again by the
second wave of COVID-19 in CY2021.
While house search and research has moved mostly online, for most people buying a house is a big
decision and they would rather wait than buy a house without physically seeing it. At 99acres, billing was
down by 13.62% to `1,848.14 million for FY2021; while revenue declined by 23.77% to 1,737.78 million
in FY2021. However we continued to invest aggressively in areas like data quality, technology and
product development. Consequently, the business slipped back into operational losses in FY2021 after
hitting operational profit in FY2020. A new marketing campaign was launched for the brand in FY2021.
This
was essential to further strengthen the brand’s market leadership positioning in an environment where
competitors continued to make healthy investments in market development activities.
Given the consolidation the real estate industry has seen over the years, we restructured the sales and
servicing team to focus more on our bigger customers. The 99acres business bounced back very strongly
in H2 FY2021 and both traffic and revenue numbers hit an all-time high in Q4. Going forward, we expect
the share of online advertising in the overall spend for real estate advertisers to increase. The market
behavioural shift post COVID-19 has already given strong indications of growth of digital at the cost of
print media in this segment. So, while in the short term both business growth and profitability have been
adversely hit by covid, we expect the housing market to come back
JEEVANSATHI
The matrimony business under
[Link] was the least affected by
the prevailing economic environment.
Billing for the business grew by 15.23% to
`1,003.76
million in FY2021, while
revenues increased by 14.39% to `968.96
million in FY2021.
SHIKSHA
The billing increased by 12.66% to `586.39
million in FY2021 and revenues grew by
6.93% to `569.61 million in FY2021.

INFO EDGE (IN

strongly in the quarters to come aided by low home loan rates, higher digital adoption and higher
demand for bigger homes post covid.
The matrimony business under [Link] was the least affected by the prevailing economic
environment. Billing for the business grew by 15.23% to `1,003.76 million in FY2021, while revenues
increased
by 14.39% to `968.96 million in FY2021. As highlighted in last year’s
Annual Report, we are continuing to invest in this business with a revised business strategy.
Consequently, even with revenue growth, the business incurs operating losses, but much of this is by
design.
The key differentiating features on the jeevansathi platform like online verification, video-calling and
video based online meet-ups helped drive user engagement and the app rating on the Google Play Store
continued to be one of the best in the category. Jeevansathi continues to strengthen its position in the
Hindi Belt.
In Shiksha we continue to focus on enhancing the quality of engagement with our users and developing
more relevant user content. Even though colleges and universities were shut for the better part of the
year, billing increased by 12.66% to `586.39 million in FY2021 and revenues grew by 6.93% to `569.61
million in FY2021. Importantly, the business generated an operating EBITDA profit of `40.97 million in
FY2021.
Amongst our investee companies, as I write Zomato has got listed. The IPO was oversubscribed 38
times, making it a very successful public offer. I am glad that the market, led by institutional investors
understood and has appreciated the intrinsic value of this business and I continue
to wish the team well for the future. Another investee company – PB Fintech Ltd. (PolicyBazaar) has also
filed a DRHP with SEBI.
We also continue to pursue activities that give back to society. Our CSR initiatives mostly related to
education and some related to COVID-19 relief continue.
The last few months have been humbling and a great learning experience in many ways. On the one
hand, the human being in me has a very dark story to paint for the year gone by. This kind of
widespread danger to life has been unparalleled, and my sincere hope is that the worst is behind us. On
the other hand, the entrepreneur in me applauds the resilience shown by our employees and our
businesses during this turmoil. This phase has also accelerated the process of digitisation in the economy
and provided much faster scope for growth across our businesses.
So, amidst a pall of gloom, I see a rainbow of hope going forward. And like someone said ‘Once you
choose Hope, anything’s possible.’ I take this opportunity to once again thank all the medical staff and
volunteers who have worked very hard across the world to battle COVID-19, and offer my hearty
appreciation to all our employees, customers, investors and other stakeholders for continuing to support
the Company in these tough times.
Regards
Hitesh Oberoi

INFO EDGE (INDIA) LIMITED ANNUAL REPORT 2020-21 15

 FINANCIAL HIGHLIGHTS
FIVE YEAR PERFORMANCE
STANDALONE (` Mn)                                                                                                                                           
FY2017 FY2018 FY2019 FY2020 FY2021 CAG
Net Revenue 8,021 9,155 10,983 12,727

Total Income 8,646 10,126 12,094 13,603

Operating EBITDA 2,275 2,973 3,413 4,027

Operating EBITDA margin 28.4% 32.5% 31.1% 31.6%

EBITDA 2,900 3,944 4,525 4,903

EBITDA margin 33.5% 39.0% 37.4% 36.0%

PBT 2,619 2,814 3,986 3,190

Total Comprehensive Income 2,039 1,822 2,795 2,008

EPS (`) 16.91 15.04 23.12 16.85

Bank FD & MF 13,087 15,004 15,499 12,613

Net Worth 19,831 21,074 23,239 24,317

Head Count 3,999 4,036 4,243 4,697

16 INFO EDGE (INDIA) LIMITED ANNUAL REPORT 2020-21
S
                                                                                     
FY2020 FY2021 CAGR
10,986 8.2%

12,174 8.9%

2,775 5.1%

25.3% -

3,963 8.1%

32.6% -

3,437 7.0%

2,783 8.1%

21.47 -

33,824 26.8%

45,642 23.2%

4,379 2.3%
 SEGMENT-WISE FIVE YEAR PERFORMANCE
STANDALONE (` Mn)                                                                                                                                 
FY2017 FY2018 FY2019 FY2020 FY2021 CAGR
Net Revenue
Recruitment 5,953 6,688 7,858 9,068 7,710 6.7%
Real Estate (99acres) 1,122 1,354 1,920 2,280 1,738 11.6%
Matrimonial (Jeevansathi) 580 687 723 847 969 13.7%
Education (Shiksha) 365 426 481 533 570 11.7%
Operating EBITDA
Recruitment Solutions 3,214 3,759 4,295 5,041 4,269 7.4%
Real Estate (99acres) (574) (304) (222) 84 (222) -
Matrimonial (Jeevansathi) (64) (235) (338) (632) (956) -
Education (Shiksha) (41) 22 9 12 41 -

INFO EDGE BILLING (` Mn)

STRONG REBOUND IN
FY 2021 FY 2020
SECOND HALF OF FY 2021
4,500.00 3,363.38 3,004.86 2,999.42
4,000.00 1,886.08 2,969.81
3,500.00 2,494.73
3,000.00
2,500.00
2,000.00
1,500.00
1,000.00
500.00

Q1 Q2 Q3 Q4
INFO EDGE (INDI
                                                                    

4,156.72
3,319.10

Q4
INFO EDGE (INDIA) LIMITED ANNUAL REPORT 2020-21 17
 INFO EDGE TOTAL ASSETS
Investment Surplus cash &
in startups cash equivalents

STRONG CASH RESERVE

7.49% 27.78% 11.98%
64.73% 41.82%

FY 2021 FY 2020
INFO EDGE TOTAL LIABILITIES

Shareholder’s

CUSTOMER ADVANCE EXCEEDS

equity customer advance & provisions
OPER AT ING ASSETS
4.13% 6.80%
15.04%
9.85%

86.02% 78.16%
FY 2021 FY 2020
18 INFO EDGE (INDIA) LIMITED ANNUAL REPORT 2020-21
 Surplus cash & Operating &
cash equivalents other assets

11.98%
41.82%

46.20%

Y 2020

Deferred revenue / Other liabilities

ance & provisions

78.16%
Y 2020
 NAUKRI: NUMBER OF DAILY AVERAGE RESUMES
(ADDITIONS AND MODIFICATIONS)
Average number of resumes added daily (‘000)
STRONG REVIVAL IN
Average number of resumes modified daily (‘000)
SECOND HALF OF FY 2021
431 390
25
366 4
20 1
15 6
10
5
0
3
2
4

4
5
1

Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021

RECRUITMENT SOLUTIONS OPERATING 4EBITDA MARGIN
                                                                                   
4
0
CONSISTENT HIGH MARGIN
56.50% 5 5 5
56.00% 6 5 5 5
55.50% . 0 . .
5
55.00% 2 1 6 3
4
54.50% 0 0 7
.
54.00% % % %
6
53.50% F F F
Y
6 Y Y
53.00%
53.99%
60
%
52.50% 0 F
FY 2017 2 2 2
0 5 Y 0 0
1 0 2 2
8 0 2 0 1
0
4
1
0 9
0
3
0
0
2
0
0
1
0
0
0
INFO EDGE (INDIA)
daily (‘000)

ly (‘000)
INFO EDGE (INDIA) LIMITED ANNUAL REPORT 2020-21 19
 MANAGEMENT DISCUSSION & ANA

1996
TO
2021

25 INDIA. WITH ITS FUNDAMENTAL ETHOS

OF FOCUSED EXECUTION, THE COMPANY

HAS CHARTED AN ILLUSTRIOUS JOURNEY AND EMERGED AS INDIA’ S PREMIER

YEARS
EDGE (INDIA) LIMITED ANNUAL REPORT 2020-21
20 INFO
TODAY, MOST OF INFO EDGE’ S BRANDS ARE MARKET
LEADERS GENER AT ING STRONG GROWTH IN REVENUES AND VA
WITH TOTAL STANDALONE
INCOME OF MORE THAN `12 , 000 MILLION, THE
COMPANY STANDS OUT AS ONE OF THE FEW INDIAN INTERNET E
SIZE TH AT IS WELL- FUNDED AND HAS CONSISTENTLY DELIVER
PROFITABLE GROWTH FOR ITS SHAREHOLDERS.
IT IS ALSO THE FOUNDING INVESTOR IN LEADING COMPANIES L
( ZOM ATO ) AND PB
FINTECH LTD. ( POLICYBAZAAR), AMONGST OTHERS.
The COVID-19 pandemic had a debilitating effect across the global economy and Info Edge was also naturally
environment. This adversely impacted the financial performance for the year. But with the pandemic situation
made
a strong comeback — which saw us remaining steadfast with our commitment to develop different elements o
the base for the next round of growth.
On a positive note, from a business perspective, according to a new McKinsey Global Survey of executives, th
digitization of their customer and supply-chain interactions and that of their internal operations by three to fo
digital or digitally enabled products in their portfolios has accelerated by a massive seven years. Info Edge wh
based digital products and services, will get a significant fillip across all its business verticals.
The Company’s growth-oriented strategy includes both organic and inorganic elements. With rapid expansion
conglomeration of different entities streamlined under three well defined domains.
First, there is the standalone entity that owns, manages and invests into the brands under four well defined b
recruitment, real estate, matrimonial and education. These businesses are the core of the Company and are
these segments, it offers a gamut of online classifieds services through various brands. These offerings are ta
needs of each consumer segment within a business vertical.
As a corporate entity, there are well defined internal supervisory matrices and control measures that govern e
the business domains execute their respective independent strategies through their own structured managem
of economies of scale and scope, there are shared centralised corporate functions that primarily include finan
Infrastructure and human resource development which support each independent business verticals.

Second, there are a series of strategic investments into services and product-oriented entities that support or
with the core businesses. The entities/businesses acquired by the Company forms an integral part of the over
domains. Essentially, these businesses are part of the consolidated results of the Company, independently the
the value proposition of the respective offerings under the standalone entity.
Third, there are a series of investments made in diversified entities that have significant value creation potent
managed independently with the Info Edge management providing broad guidance and financial support. On
Ltd., in April, 2021, filed
its Draft Red Herring Prospectus and as on date of this report is on track of launching ‘Initial Public Offer’ (IPO
market would validate the value created by long term investing in private market. A second company, in Info
news for actively considering and preparing for IPO.
Encouraged by the success stories of value creation in long term investing for our stakeholders and to further
January, 2020, Info Edge has set up an “Alternative Investment Fund (AIF)” named Info Edge Venture Fund (
technology-
enabled entities. Smartweb Internet Services Ltd., a wholly-owned subisiary of the Company acts as an Inves
Fund. The fund has been floated as a US$ 100 million fund, with Info Edge (including its group companies) co
committed by MacRitchie Investments Pte. Limited (a wholly owned subsidiary of Temasek (Holdings) Private
THE COVID-19 RESPONSE
From the onset of the COVID-19 pandemic in India since March, 2020, Info Edge took a proactive approach t
workflows. The Company moved all its employees to ‘working from home’ (WFH) well in time before the natio
This enabled business continuity and most of the teams transitioned smoothly to WFH and were equally prod
protecting health, safety and well-being of employees, the Company paid special attention to, and invested in
safety initiatives. Throughout the continuing WFH phase, Info Edge’s internal team and business partners hav
employees to provide support, as and when required. Various webinars have been held to engage and help e
Business continuity was well maintained while moving to a WFH environment, and all key processes such as b
payments, payroll, servicing customers ran effectively. The websites, digital platforms and customer-facing ap
and at the corporate level, internal controls and the financial reporting environment have been maintained eff
As a part of its proactive response to COVID-19, Info Edge partnered with reputed healthcare providers and c
employees, their families and support teams. This was successfully conducted across Noida, Gurugram, Mum
Bengaluru: 1020 associates, their family members and the support staff were vaccinated. This drive
has been expanded across India to ensure that all our associates are vaccinated. To support employees and f
dedicated 24/7 Emergency Care Helpline, virtual doctor consultations, enhanced insurance coverage, medical
Company has also rolled out a specific COVID-19 leave policy for impacted associates or those serving as care
Second wave of COVID-19 in India that began in earnest from April, 2021 has left many more people impacte
initiatives to support employees in these challenging times. Moreover, in the aftermath of this pandemic, emp
wellbeing have become a priority for the Company. Consequently, we conducted a mental health survey to ga
of the employees. This was followed by listening circles in smaller groups which gave employees a platform to
and the support they needed.
ANAGEMENT DISCUSSION & ANALYSIS

DURING FINANCIAL YEAR ( FY) 2021 , INFO EDGE ( ‘ THE COMPANY’)

COMPLETED 25
YEARS AS A REGISTERED COMPANY IN

INDIA. WITH ITS FUNDAMENTAL ETHOS

D EXECUTION, THE COMPANY

ED AN ILLUSTRIOUS JOURNEY AND EMERGED AS INDIA’ S PREMIER

ONLINE CLASSIFIEDS ENTERPRISE.

AL REPORT 2020-21
TODAY, MOST OF INFO EDGE’ S BRANDS ARE MARKET
LEADERS GENER AT ING STRONG GROWTH IN REVENUES AND VALUE CRE AT ION.
WITH TOTAL STANDALONE
INCOME OF MORE THAN `12 , 000 MILLION, THE
COMPANY STANDS OUT AS ONE OF THE FEW INDIAN INTERNET ENTERPRISES OF IT
SIZE TH AT IS WELL- FUNDED AND HAS CONSISTENTLY DELIVERED
PROFITABLE GROWTH FOR ITS SHAREHOLDERS.
IT IS ALSO THE FOUNDING INVESTOR IN LEADING COMPANIES LIKE ZOM ATO LTD.
( ZOM ATO ) AND PB
FINTECH LTD. ( POLICYBAZAAR), AMONGST OTHERS.
The COVID-19 pandemic had a debilitating effect across the global economy and Info Edge was also naturally affected by the prevailing busin
environment. This adversely impacted the financial performance for the year. But with the pandemic situation improving in the second half, we
made
a strong comeback — which saw us remaining steadfast with our commitment to develop different elements of our businesses and further bui
the base for the next round of growth.
On a positive note, from a business perspective, according to a new McKinsey Global Survey of executives, their companies have accelerated t
digitization of their customer and supply-chain interactions and that of their internal operations by three to four years. Consequently, the share
digital or digitally enabled products in their portfolios has accelerated by a massive seven years. Info Edge which primarily focuses on internet
based digital products and services, will get a significant fillip across all its business verticals.
The Company’s growth-oriented strategy includes both organic and inorganic elements. With rapid expansion, today Info Edge has evolved int
conglomeration of different entities streamlined under three well defined domains.
First, there is the standalone entity that owns, manages and invests into the brands under four well defined business segments/verticals –
recruitment, real estate, matrimonial and education. These businesses are the core of the Company and are nurtured by internal teams. Acros
these segments, it offers a gamut of online classifieds services through various brands. These offerings are tailor-made for catering to specific
needs of each consumer segment within a business vertical.
As a corporate entity, there are well defined internal supervisory matrices and control measures that govern each of the verticals. Equally, eac
the business domains execute their respective independent strategies through their own structured management teams. To leverage the bene
of economies of scale and scope, there are shared centralised corporate functions that primarily include finance, legal, treasury, facilities, IT
Infrastructure and human resource development which support each independent business verticals.

Second, there are a series of strategic investments into services and product-oriented entities that support or have potential to create synergie
with the core businesses. The entities/businesses acquired by the Company forms an integral part of the overall business offering of the core
domains. Essentially, these businesses are part of the consolidated results of the Company, independently they play a critical role in augmentin
the value proposition of the respective offerings under the standalone entity.
Third, there are a series of investments made in diversified entities that have significant value creation potential over time. Each of these are
managed independently with the Info Edge management providing broad guidance and financial support. One of such investments i.e., Zomat
Ltd., in April, 2021, filed
its Draft Red Herring Prospectus and as on date of this report is on track of launching ‘Initial Public Offer’ (IPO). We are confident that public
market would validate the value created by long term investing in private market. A second company, in Info Edge’s portfolio – Policybazaar is
news for actively considering and preparing for IPO.
Encouraged by the success stories of value creation in long term investing for our stakeholders and to further streamline investment portfolio,
January, 2020, Info Edge has set up an “Alternative Investment Fund (AIF)” named Info Edge Venture Fund (IEVF) to invest in technology and
technology-
enabled entities. Smartweb Internet Services Ltd., a wholly-owned subisiary of the Company acts as an Investment Manager/Sponsor to the
Fund. The fund has been floated as a US$ 100 million fund, with Info Edge (including its group companies) committing US$50 million and bala
committed by MacRitchie Investments Pte. Limited (a wholly owned subsidiary of Temasek (Holdings) Private Limited) .
THE COVID-19 RESPONSE
From the onset of the COVID-19 pandemic in India since March, 2020, Info Edge took a proactive approach to manage employees and busine
workflows. The Company moved all its employees to ‘working from home’ (WFH) well in time before the nation-wide lockdown was announced
This enabled business continuity and most of the teams transitioned smoothly to WFH and were equally productive. With a strong ethos of
protecting health, safety and well-being of employees, the Company paid special attention to, and invested in health of its employees and rela
safety initiatives. Throughout the continuing WFH phase, Info Edge’s internal team and business partners have been in constant touch with
employees to provide support, as and when required. Various webinars have been held to engage and help employees stay strong and optimis
Business continuity was well maintained while moving to a WFH environment, and all key processes such as billings, collections, vendor
payments, payroll, servicing customers ran effectively. The websites, digital platforms and customer-facing apps have been running smoothly;
and at the corporate level, internal controls and the financial reporting environment have been maintained efficiently.
As a part of its proactive response to COVID-19, Info Edge partnered with reputed healthcare providers and conducted a drive to vaccinate its
employees, their families and support teams. This was successfully conducted across Noida, Gurugram, Mumbai, Hyderabad, Chennai, Pune a
Bengaluru: 1020 associates, their family members and the support staff were vaccinated. This drive
has been expanded across India to ensure that all our associates are vaccinated. To support employees and families, Info Edge also launched
dedicated 24/7 Emergency Care Helpline, virtual doctor consultations, enhanced insurance coverage, medical aid, and other benefits. The
Company has also rolled out a specific COVID-19 leave policy for impacted associates or those serving as caregivers.
Second wave of COVID-19 in India that began in earnest from April, 2021 has left many more people impacted. Info Edge has launched sever
initiatives to support employees in these challenging times. Moreover, in the aftermath of this pandemic, employee mental health and emotion
wellbeing have become a priority for the Company. Consequently, we conducted a mental health survey to gauge the current state of wellbein
of the employees. This was followed by listening circles in smaller groups which gave employees a platform to discuss issues they were facing
and the support they needed.
YSIS
CRE AT ION.

RPRISES OF ITS

OM ATO LTD.
 by the prevailing business
ng in the second half, we

sinesses and further build

anies have accelerated the

Consequently, the share of
arily focuses on internet

nfo Edge has evolved into a

egments/verticals –
by internal teams. Across
e for catering to specific

e verticals. Equally, each of

s. To leverage the benefits
treasury, facilities, IT

ential to create synergies

ess offering of the core
critical role in augmenting

ime. Each of these are

investments i.e., Zomato

e confident that public

ortfolio – Policybazaar is in

ne investment portfolio, in
invest in technology and

anager/Sponsor to the
g US$50 million and balance
.
e employees and business
ockdown was announced.
ith a strong ethos of
f its employees and related
n constant touch with
stay strong and optimistic.
ollections, vendor
been running smoothly;

d a drive to vaccinate its

erabad, Chennai, Pune and

nfo Edge also launched a

other benefits. The

dge has launched several

ntal health and emotional
current state of wellbeing
issues they were facing
 BUSINESS ENVIRONMENT: MACRO ECONOMY AND THE INDIAN DIGITA
We wrote in last year’s Annual Report that the true impact of the global COVID-19 pandemic, which started in
(CY) 2020, would reflect in the Company’s business performance in FY2021. This has occurred. COVID-19 has
globe.
There has been significant loss of life and major socio-economic strife across the world. Clearly, for most econ
was a complete aberration. The International Monetary Fund (IMF) estimates suggest that the global econom
widespread global lockdowns.
It is also important to note, that as Chart A shows, the Indian economy was slowing down through FY2019 an
steadily decreased over eight quarters from 7.1% in Q1, FY2019 to 3% in Q4, FY2020. Subsequently, the eco
the first wave of the COVID-19 and with the nationwide lockdown in Q1, FY2021, GDP contracted by 24.4%.
FY2021, when real GDP shrank by 7.4%. The good news was that the economy recovered to positive-growth
FY2021. For FY2021 as a whole, real GDP growth was
(-)7.3%.

CHART A Quarterly Real GDP Growth (%-YoY)

10%
7.1 6.2
5.65% 5.7 5.4 4.6
0% 3.3 3

-5%
-10%
-15% -7.4
-20%
Note: Real GDP growth in basic -25%
prices.
FY2021 are advance estimates
Source: Ministry of Statistics and
Programme Implementation (MOSPI),
Government of India.

-24.4
While the situation was trending to improve in the latter half of FY2021, a massive second wave of the diseas
FY2022. This has thrown off the early sign of revival across the economy. Having said so, COVID-19 vaccinat
a slow start, the inoculation drive seems to have finally picked up pace.
The danger lies with the third wave of COVID-19 which all epidemiologists and medical experts are almost ce
be: How virulent and dangerous will that mutation be?
And how many people will be vaccinated fully over when this wave makes its appearance? Despite this dange
positive hope that the economy will start getting back on track from Q2 of FY2022.
The IMF has an optimistic forecast of 12.5% real GDP growth for FY2022. In contrast, the World Bank has re
earlier 10.1% to 8.3%. The Asian Development Bank has forecast
of 11% growth. And the Reserve Bank of India’s latest forecast for FY2022 is 9.5%. The general sense is that
varying between 8.5% and 9.5%, provided the third wave of COVID-19
does not wreak serious human and economic havoc.
 What COVID-19 and WFH have done is to significantly increase the adoption and use of internet and mobile l
are greater than ever before. According to the ‘Digital 2021 April Global Snapshot’ report released by the onlin
‘Datareportal’:
• Of the world’s population of 7.85 billion at the start of April, 2021, there are 5.27 billion unique mobile use
that more than two-thirds of all the people on earth now have a mobile phone.
• Internet users have grown by 7.6% over the past year to reach 4.72 billion, which equates to more than 6
• More than half a billion new users joined social media platforms over the past 12 months, taking the globa
From a global perspective, South Asia, which is primarily India, paints an interesting picture. On the one hand
is one of the largest contributors to the internet population in the world (see Chart B). India alone is over 13%
number of users in North America . However, even with such widespread usage, internet penetration in South
compared to rest of the world.

APRIL 2021
Sources: ITU; globalwebindex; gsma intelligence; eurostat; social media platforms’ self-service advertising tools; local government bodies and regulatory authorities; apjII; united nations. *note: p
CHART
Regions BSHARE OF GLOBAL INTERNET USERS BY REGION: Number of internet users in each
as defined by the United Nations Geoscheme. Comparability advisory: Important source changes. Figures are not directly comparable to previous reports.

region as a percentage of the total number of the global internet users.

As Chart C illustrates, only around four of every ten people in South Asia use the internet. In contrast, more t
Northern and Western Europe and Northern America use the internet today. To put it differently, not only doe
its existing internet using population, but also that there is considerable scope for further growth in this mark

NORTHER
N

E U R O
5.1%
7.1% 2 . 2 EASTERN
EUROPE
NORTHER
N
3.9% 2.8% 0.9
WESTER PE
AMERICA
N % SOUTHERN
EUROPE
% 25.1%
EUROPE CENTRAEASTERN
L ASIA
0.6% 2.9% 17.5%
CARIBBEA NORTHERN ASIA
SOUTHERN
N AFRICA
2.6
1.0 4.4%
% 3.6% ASIA
CENTRA % WESTERN
L
WESTER
MIDDL 9.8%
AMERIC 6.6% N
E 2.3% ASIA
SOUTH
AFRICA EASTERN
A SOUTHER AFRIC EASTERN
N A AFRICA ASIA 0.6
AMERICA %
OCEANI
0.9% A
SOUTHER
N AFRICA
 E INDIAN DIGITAL SECTOR
pandemic, which started in the beginning of Calendar Year
as occurred. COVID-19 has affected human activity across the

world. Clearly, for most economies across the world, FY2021

est that the global economy shrank by 4.4% in CY2020 amidst

g down through FY2019 and FY2020 and in fact, GDP growth

020. Subsequently, the economy was ravaged by the onset of
GDP contracted by 24.4%. The contraction continued in Q2,
covered to positive-growth levels in Q3, FY2021 and Q4,

1.6
0.5

-7.4

second wave of the disease hit India in the first quarter of

aid so, COVID-19 vaccinations have been developed and, after

dical experts are almost certain will arrive. The questions will

arance? Despite this danger, there is now a sense of cautiously

ast, the World Bank has reduced its FY2022 forecast from an

%. The general sense is that India will see a bounce-back

 se of internet and mobile led activities. Mobile and internet use
report released by the online activity research organisation

7 billion unique mobile users around the world. This means

ch equates to more than 60% of the world’s total population.

2 months, taking the global total to 4.33 billion by April, 2021.
g picture. On the one hand, with a share of 17.5%, this region
B). India alone is over 13%, which is almost double the
ternet penetration in South Asia and India remains low

atory authorities; apjII; united nations. *note: penetration figures are for total population, regardless of age.
users in each
evious reports.

nternet. In contrast, more than nine out of ten people across

t it differently, not only does India provide a large market for
urther growth in this market.

0.6
%
OCEANI
A
APRIL 2021
INTERNET ADOPTION AROUND THE WORLD: Internet adoption in each region, shown as percent
CHART C
Sources: KEPIOS analysis; Company statements and earnings announcements; social media platforms’ self-service advertising tools; Mediascope; Cafebazaar (all latest data available in January
regardless of age. Regions as defined by the United Nations Geoscheme. Comparability advisory: Source and base changes.

The ‘ICUBE 2020’ report by Internet and Mobile Association of India (IAMAI) in partnership with Kantar and e
users (AIU) in India will grow from 622 million in FY2020 to over 900 million in 2025 — which is essentially a
adoption of the internet in India over the next five years. Out of the 622 million internet users, 323 million are
million are from rural India. Interestingly, internet adoption in rural India has grown more in the last year com
India, active internet users have reportedly grown by 4% in 2020 over
2019; in rural areas it has increased by 13% over the last year.
CHART D
Number of Internet Users in India (millions)
1200
1000
800
600
820.99
876.25
400
200 761.29
696.77
0 636.73
493.96
422.2
302.36 342.65

2 2
0 0
2 2
1 2
Source: IMRB I-Cube, All ( (
India estimates, F F
(F) indicates forecasts 2015 2016 2017 2018 2019 2020 ) )

NORTHER
N

E U R
82.3%
90.4 9 7 . 0 EASTERN
EUROPE
% 93.3 85.7% 57.1
O PE
NORTHER
N
% % SOUTHERN EUROPE % 70.6%
WESTER CENTRAL
AMERICA EASTERN
N ASIA
61.7% EUROPE 55.7% 42.2%
CARIBBEA NORTHERN ASIA
SOUTHERN
66.9
N AFRICA 73.7%
26.2 ASIA
% 40.9
CENTRAL % WESTERN
AMERIC % MIDDLE ASIA 69.0%
A 72.0 WESTER AFRICA 24.4% SOUTH
EASTERN
% N
AFRICA AFRICA
EASTERN
ASIA
SOUTHER
N
AMERICA 62.1
%
SOUTHER
N AFRICA
Improved mobile usage and internet infrastructure have been actively driving increased internet usage in Ind
detrimental on most fronts, it has had a significant positive impact on transforming several activities from offl
all its negative, has fundamentally fast-tracked the absorption of internet and mobile based activities across t
Digitisation in India, itself has also got a major fillip during this period. In the pre-Covid-19 era, remote worki
had witnessed some traction. But the events of 2020, made it imperative for a shift to large-scale remote wor
setup. In a short span of time, many of these were made feasible and equally productive with the right device
there have been effective utilisation of digital platforms and video conferencing services with
the help of ICT infrastructure has helped the country reduce the pandemic related hardships. In essence, COV
change that has fundamentally made online functioning much more of a mainstream activity.
Government delivery mechanisms have also significantly enhanced digitisation post COVID-19. To begin with,
distributed around US$5 billion cash benefits to its citizens who need assistance the most, entirely through pa
platforms. Data from the RBI show that India is now clocking around 100 million digital transactions a day wi
billion). This is about a five-times jump from 2016. RBI expects this to further grow five-fold to
1.5 billion transactions a day worth `15 trillion (US$200 billion). Much of this is powered by the United Payme
payment system developed by the National Payments Corporation of India and monitored by the RBI.
The digital reset of the Indian economy has seeped into almost every aspect of life. Majority of Indians now h
Aadhar identification number. The connection of Aadhar with bank accounts (under a financial inclusion schem
phones, or what has been called ‘JAM’, is the bedrock of much of this reset. With the lockdown placing immen
household budgets of several sections of society, JAM played the role of a safety net and helping millions who
through ubiquitous direct transfer of state benefits. In addition
to effectively track and monitor the spread of COVID-19, India’s National Informatics Centre created the ‘Aaro
downloaded more than 127 million times. Using technology and digital tools, these innovative solutions are ha
spheres of life, be it livelihoods, access to services or education. Thus, digitisation got a rapid push across Ind
19.
In this scenario, Info Edge has adopted a two-pronged approach. The first is to carefully manage the situation
overcome short term challenges. The second is to evaluate, reposition and develop different brands for sustai
In essence, the Company has maintained its philosophy of investing in its people, products, brands, technolog
future, despite what was a very difficult business environment in the first half of FY2021.
BUSINESS REVIEW
Info Edge has a well-defined business structure.
• An internally managed standalone business that nurtures the core brands: [Link], 99acres. com, jeev
Each of these are managed according to their market requirements and are at different stages of value life cy
term value.
• The cash generated from the operations and valuations of the core business is effectively channelized into
and making a series of investments. The investments are of three types:
o Investments that support the Company’s long-term focus on creating more moats around the
core domains of the Company; different modes of engagement with customers, existing and potential; evolve
addressable markets where the Company operates
h region, shown as percentage of total population.

Cafebazaar (all latest data available in January 2020). *note: penetration figures are for total population,

rtnership with Kantar and estimates that active Internet

25 — which is essentially a growth of around 45% in the
ternet users, 323 million are from urban areas while 299
wn more in the last year compared to urban areas. In urban

927.44 974.86
820.99
876.25

2
2 2 0
0 0 2
2 2 5
3 4
( ( (
F F F
) ) )

71.0
%
OCEANIA
eased internet usage in India. While the pandemic has been
g several activities from offline to online. The pandemic and
bile based activities across the globe.
Covid-19 era, remote working and learn from home trend
ft to large-scale remote working and learn from home
ductive with the right devices and tools. Across activities,
rvices with
hardships. In essence, COVID-19 has created a structural
am activity.
st COVID-19. To begin with, in late March, 2020, India had
he most, entirely through payments made through digital
digital transactions a day with a volume of `5 trillion (US$67
w five-fold to
wered by the United Payment Interface (UPI), a real-time
onitored by the RBI.
e. Majority of Indians now have the digitally authenticated
er a financial inclusion scheme called Jan Dhan), and mobile
the lockdown placing immense strain on
net and helping millions who need immediate monetary aid

tics Centre created the ‘Aarogya Setu’ app, which has been
e innovative solutions are having an impact across various
got a rapid push across India in the aftermath of COVID-

arefully manage the situation and, thus, effectively

p different brands for sustained longer-term results.
products, brands, technologies and processes for the
Y2021.

[Link], 99acres. com, [Link] and [Link].

erent stages of value life cycle with a focus on creating long

effectively channelized into creating a strong cash reserve

ats around the

xisting and potential; evolve products that help resize the
 and work on different innovative business models that can best create value in a fast changing business envir
o Strategic acquisitions, to support and enhance the existing business platforms that are related to the core
o External investments that are focused on value creation in the medium to long term and are primarily in th
To bring more discipline to these value
generating investments, Alternate Investment Fund (AIF) was floated in the beginning of 2020.
Today, the Company has separate specialised teams that oversee mergers & acqusitions/ strategic investmen
through vehicles like the AIF.

STANDALONE BUSINESS
As on March 31, 2021, the Company continues to have an extremely healthy balance sheet position (as seen
highlight that the Company’s total operating assets amounting to
`3,976.60 million are lesser than customer advances/deferred revenues by about `1,248.15 million, signifying
with zero/negative capital deployed. The Company is almost debt free with significantly large proportion (ove
equity and reserves. In terms of deployment, over 64% of total assets is in cash and bank balances (including
approximately 28% represents stakes in various companies, invested directly, through wholly-owned subsidia
On August 7, 2020, Info Edge announced the successful closure of its Qualified Institutional Placement (QIP)
2020. The Company determined and approved the issue price for 60,67,961 equity shares to be allotted to eli
`3,090 per equity share (including a share premium of `3,080 per equity share), which includes a discount of
to the floor price of `3,177.18 per equity share, calculated according to the formula prescribed under Regulat
Regulations.
The expenses incurred in relation to the QIP amounting to `459.68 million has been adjusted from the securit
`18,290.32 million has been transferred to the balance sheet. Out of that, `167.24 million has since been utili
balance remains invested in term deposits with banks.
This QIP has contributed significantly to the Company’s total equity and reserves increasing by 87.7% to `45,
2021. In terms of assets, `34,343.61 million (64.73%) continues to remain in cash and bank balances, that a
emerging opportunities in the digitised world and also provides protection against any temporary slowdowns
`14,738.65 million investment made in start-ups have potential for value accretion in future.

CHART E 7.49
Info Edge (Standalone Balance Sheet Data) as on March 31, 2021
%
ASSETS LIABILITIES
27.78
Investment in Startups
%
Surplus Cash & Cash Equivalent
Operating & Other Assets

64.73
%
est create value in a fast changing business environment.
g business platforms that are related to the core businesses.
n the medium to long term and are primarily in the nature of financial investments.

as floated in the beginning of 2020.

ersee mergers & acqusitions/ strategic investments and for financial investments

xtremely healthy balance sheet position (as seen in chart E). It is important to
ng to
d revenues by about `1,248.15 million, signifying that the operating businesses works
debt free with significantly large proportion (over 86%) of the liabilities in the form of
otal assets is in cash and bank balances (including Fixed Deposits), while
invested directly, through wholly-owned subsidiaries or venture fund.
ure of its Qualified Institutional Placement (QIP) issue, which opened on August 4,
e for 60,67,961 equity shares to be allotted to eligible qualified institutional buyers at
0 per equity share), which includes a discount of 2.74% (i.e. `87.18 per equity share)
ccording to the formula prescribed under Regulation 176(1) of the SEBI ICDR

459.68 million has been adjusted from the securities premium account. Net amount of
t. Out of that, `167.24 million has since been utilized during the year and remaining

equity and reserves increasing by 87.7% to `45,641.96 million as on March 31,

nues to remain in cash and bank balances, that allows the Company to invest in
es protection against any temporary slowdowns in the existing business portfolio.
tial for value accretion in future.

4.13
et Data) as on March 31, 2021
9.85 %
LIABILITIES
%
Shareholder’s Equity
Deferred Revenue / Customer Advance
Other Liabilities & Provisions

86.02
%
 During FY2021, the Company’s standalone business bore the impact of the COVID-19 economic slowdown. Re
reduced compared to FY2020. However, on a positive note it is important to highlight that the Company’s per
the second half of FY2021 as the impact of the first wave of COVID-19 started to show signs of abating gradu

CHART F
FINANCIAL HIGHLIGHTS: STANDALONE
Info Edge: Billing (` million)
4,500.00 3,363.38 3,004.86
2,999.42
4,000.00 1,886.08 2,969.81
3,500.00
2,494.73
3,000.00
2,500.00
2,000.00
1,500.00
1,000.00
500.00

FY 2021
FY 2020                                                                                                                                            
Q1 Q2 Q3 Q4

BOX 1 Info Edge’s Standalone Business Portfolio

• The online recruitment business is led by [Link]. The recruitment

portfolio is supported by other related platforms like [Link], www.
[Link], [Link], [Link] and [Link].

• The online real estate classified business, which operates through

[Link].
• The online matrimonial classified business, which operates through
[Link].
• The online educational classified business, which operates through
[Link].
VID-19 economic slowdown. Revenues and operating profit
ghlight that the Company’s performance improved significantly in
to show signs of abating gradually.

4,156.72
3,319.10

                                             

itment
com, www.
[Link].

gh

ugh

ugh
Revenue from Operations 10,985.97 12,726.95

Network, internet and other direct charges 252.23 234.03

Employee Benefits Expenses 5,489.92 5,395.72
Advertising and Promotion Cost 1,817.15 2,044.21
Administration and Other Expenses 651.71 1,025.68
Total Operating Expenses 8,211.01 8,699.64
EBITDA Operating 2,774.96 4,027.31
Depreciation and Amortisation Expense 436.36 413.78

Other Income 1,187.71 876.18

EBIT from ordinary activities 3,526.31 4,489.71
Finance Costs 56.98 66.89
PBT for ordinary activities 3,469.33 4,422.82
Exceptional items (32.24) (1,232.95)
PBT 3,437.09 3,189.87
Tax 727.71 1,133.22
Profit for the year 2,709.38 2,056.65

Other Comprehensive Income/(loss), net of

TABLE 1Bincome tax
Significant Changes in Key Financial74.00
Ratios (48.54)

Total Comprehensive Income 2,783.38 2,008.11

FY202 FY202
Table 1B shows details of Significant Changes in Key Financial
1 Ratios. 0
1 Debtors Turnover Ratio 54.73 54.59 0%
2 Inventory Turnover Ratio N.A. N.A. N.A.
3 Interest Coverage Ratio 61.89 67.12 -8%
4 Current Ratio 4.30 2.10 105%
5 Debt Equity Ratio 0.163 0.279 -42%
6 Operating Profit Margin(%) 21.29% 28.39% -25%
7 Net Profit Margin (%) 24.66% 16.16% 53%
8 Return on Net Worth 5.94% 8.46% -30%

1. Debtors Turnover Ratio is computed on Credit sales over average debtors. 2. Inventory Turnover ratio is not applicabl
inventory, being a service company. 3. Interest coverage ratio is computed on interest over profit before Interest, tax &
calculated on Current asset over current liability. Current ratio has increased by 105% in view of higher bank balances po
computed on total liabilities over total equity(i.e. Equity and other equity). The ratio has decreased by 42% in view of inc
Mn in FY 2019-20 to `45,641.96 Mn in FY 2020-21 on account of QIP issue during the year. 6. Operating profit margin is
exceptional item & other income over revenue from operations. Operating profit margin has reduced by 25% on YOY bas
revenue during pandemic, partly set off by reduction in operating expenses. 7. Net profit Margin is computed on profit of
exceptional item) over revenue from operations. Net profit margin has increased by 53% in view of reduction in exceptio
2019-20 to `32.24 Mn in FY 2020-21 resulting in overall increase in profit for the year. 8. Return on net worth is comput
tax and exceptional item) over total equity(i.e. Equity and other equity). Return on net worth has decreased by 30% dur
equity from `24,316.59 Mn in FY 2019-20 to `45,641.96 Mn in FY 2020-21 post QIP issue and net profit for the year.

TABLE 1A Standalone Abridged Profit and Loss Statement

FY202
1
 FY202 CHANG
os. 0 E

tors. 2. Inventory Turnover ratio is not applicable as Company does not have any
ed on interest over profit before Interest, tax & exceptional item. 4. Current ratio is
ased by 105% in view of higher bank balances post QIP issue. 5. Debt Equity ratio is
). The ratio has decreased by 42% in view of increase in total equity from `24,316.59
ue during the year. 6. Operating profit margin is computed on profit before interest, tax,
g profit margin has reduced by 25% on YOY basis during the year in view of lower
ses. 7. Net profit Margin is computed on profit of the year(i.e. Profit after tax and
creased by 53% in view of reduction in exceptional items from `1,232.95 Mn in FY
t for the year. 8. Return on net worth is computed on profit of the year(i.e. Profit after
Return on net worth has decreased by 30% during the year in view of increase in total
21 post QIP issue and net profit for the year.

(In `Million)

FY202 FY202
1 0
 It may be noted that the total billings of the company, which contracted during Q1 by 43.92% on YoY basis a
significant recovery during Q2 & Q3, which contracted by 16.98% & 0.99% on YoY basis at `2,494.73 million
The billing rebounded sharply during Q4 which, in fact, witnessed robust growth of 25.24% at `4,156.72 milli
operating segment of the Company i.e. recruitment solutions maintained operating EBITDA margin of approx
The financial highlights are:
• Revenue from operations reduced to `10,985.97 million in FY2021 – a 13.68% drop over FY2020.
• With lower revenues and a large proportion of fixed establishment costs, operating profit margins reduced
in FY2021. Operating EBITDA reduced by 31.10%.
• The company consciously but cautiously rationalized discretionary spends. In addition, work from home en
administrative and facilities costs. Accordingly, total operative expenses reduced by 5.62% on yoy basis.
• Therefore, despite lower revenues from operations in what was a difficult year, the Company generated Pr
activities of `3,469.33 million in FY2021.
• With no major exceptional items, Total comprehensive Income actually increased by 38.61% from
`2,008.11 million in FY2020 to `2,783.38 million in FY2021.
• The Company has a standard dividend policy of paying 25-40% of adjusted PAT. The company has consis
Interim dividend @`8 per share was paid in July, 2021 with respect to FY2021.
An important point to note is the gradual recovery of the business during FY2021 as the COVID-19 conditions
Chart G shows that with the deep impact of COVID-19 economic shutdown in the country, the Company’s rev
19.11% in Q2, FY2021 compared to the corresponding quarter
in FY2020. The condition improved steadily through the year and in Q4, FY2021, the revenue from
operations were up to 89.85% of levels of the preceding year.

CHART G

Quarterly Standalone Revenue from Operations

2,801.1 2,722.9(` million)
4 2,561.13,166.11
3500 3,127.72 6 3,204.97
6
3000
2500

2000
1500
FY 2021 1000
FY 2020 500
0
Q1 Q2 Q3 Q4

BRANDS UNDER DIRECT MANAGEMENT IN THE STANDALONE ENTITY

RECRUITMENTS: NAUKRI. COM
[Link] is the Company’s flagship business and the core brand that has gained clear market leadership, to
revenues and profits for the Company. Through concerted
d during Q1 by 43.92% on YoY basis at `1,886.08 million, showed
99% on YoY basis at `2,494.73 million and `2,969.81 million respectively.
st growth of 25.24% at `4,156.72 million on yoy basis. The biggest
d operating EBITDA margin of approximately 55% of pre-pandemic levels.

a 13.68% drop over FY2020.

osts, operating profit margins reduced from 31.64% in FY2020 to 25.26%

pends. In addition, work from home enabled the company to save certain
reduced by 5.62% on yoy basis.
ficult year, the Company generated Profit Before Tax (PBT) from ordinary

ally increased by 38.61% from

djusted PAT. The company has consistently paid dividend over years.
FY2021.
ng FY2021 as the COVID-19 conditions started improving in India.
own in the country, the Company’s revenue from operations reduced by

, FY2021, the revenue from

ons (` million) 2,900.4

4
3,228.15

Q4

ENTITY

has gained clear market leadership, today, it is the primary source of

 effort, over the last decade, [Link] has emerged as the clear leader in the Indian online recruitment solu
CHART H traffic share amongst traditional jobsites.
Naukri’s Internet Traffic Share (overall)

NAUKRI COMPETITION

Source: [Link]
The business continues to leverage its market leadership position to further grow. It does so by utilising a virt
listings; consequently, it gets the most traffic; because of which, it gets the most online responses; which driv
increasing job postings.
This cycle of growth has continued to drive the brand’s development.
Today, as a business, [Link] has progressed beyond being just the market leader and stepped onto its n
now on how to best leverage the large customer pool — recruiters and employees alike — with greater custom
per customer revenues and profits.
This involves greater engagement with the customer base, which is at the core of a well-designed
mid-term forward looking strategy. To effectively execute this, the Company is developing and utilising severa
management tools. With a focus on customised offerings to
its different customer segments, [Link] is also investing and developing sub-brands that provide specific
customer groups.
As across all businesses, FY2021 was a difficult year for the recruitment solutions vertical as well. Box 2 summ

BOX 2 Recruitment Vertical — Performance Highlights

• Billings from recruitment solutions rebounded with robust growth of 22.05% YOY
during Q4 of FY2021 at `2,978.51 million, after witnessing degrowth for first 3
consecutive quarters by 44.28%, 20.23% & 4.07% at `1,402.79 million, `1,673.26
million and `2,014.49 million for Q1, Q2 & Q3 respectively.
• Net revenue from recruitment decreased by 14.98% — from `9,067.60 million in
FY2020 to `7,709.63 million in FY2021.
• Segment profit before tax and un-allocable items decreased by 16.27% — from
`4,810.32 million in FY2020 to `4,027.92 million in FY2021.
ver the last decade, [Link] has emerged as the clear leader in the Indian online recruitment solutions market with around 75% total
are amongst traditional jobsites.
Naukri’s Internet Traffic Share (overall)
80%
70%
60%
50%
40%
30%
20%
10%
0

[Link]
ness continues to leverage its market leadership position to further grow. It does so by utilising a virtuous cycle: it has the most job
consequently, it gets the most traffic; because of which, it gets the most online responses; which drives most clients to the site further
g job postings.
e of growth has continued to drive the brand’s development.
s a business, [Link] has progressed beyond being just the market leader and stepped onto its next level of maturity. The focus is
how to best leverage the large customer pool — recruiters and employees alike — with greater customer focused services that increases
omer revenues and profits.
olves greater engagement with the customer base, which is at the core of a well-designed
m forward looking strategy. To effectively execute this, the Company is developing and utilising several sophisticated internet and data
ment tools. With a focus on customised offerings to
ent customer segments, [Link] is also investing and developing sub-brands that provide specific value-added services for certain
r groups.
s all businesses, FY2021 was a difficult year for the recruitment solutions vertical as well. Box 2 summarizes the results.

Recruitment Vertical — Performance Highlights

• Billings from recruitment solutions rebounded with robust growth of 22.05% YOY
during Q4 of FY2021 at `2,978.51 million, after witnessing degrowth for first 3
consecutive quarters by 44.28%, 20.23% & 4.07% at `1,402.79 million, `1,673.26
million and `2,014.49 million for Q1, Q2 & Q3 respectively.
• Net revenue from recruitment decreased by 14.98% — from `9,067.60 million in
FY2020 to `7,709.63 million in FY2021.
• Segment profit before tax and un-allocable items decreased by 16.27% — from
`4,810.32 million in FY2020 to `4,027.92 million in FY2021.
 Recruitment Solutions: Billing (` million)
CHART I 3,500.00 2,517.49
3,000.00
2,500.00
2,000.00 2,097.70 2,100.02
2,014.49

1,500.00 1,402.79 1,673.26

1,000.00
500.00

FY 2021
FY 2020                                                                                                                                    
Q1 Q2 Q3 Q4
The recruitment business has two major sources of revenue:
a) From recruiters, which accounts for around 90% of revenues. The different elements include job listing / r
branding / visibility; and others, such as résumé short- listing and screening, recruitment management and ca
b) From job seekers, which relate to all job seeker advisory services, and accounts for about 10% of
segment revenues.
CHART J
Recruitment Solutions: Operating EBITDA Margin
56.50% 5 5 5
56.00% 6 4 5
55.50%
. . .
55.00%
54.50%
2 6 6
54.00% 0 6 0
53.50% % % %
53.00% F F F
52.50% Y Y Y
53.99%
2 2 2
FY 2017
0 0 0
1 1 2
8 9 0
CHART K

Naukri: Number of366

Daily Average
431 Resumes
390 (Additions
416 and Modifications)
324 451 440
25
600
20 500

15
10
5
0
Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021

Average number of resumes added daily (‘000) Average number of resumes modified daily (‘000)
 2,978.51
2,440.50
2,100.02

                                             

erent elements include job listing / response management; employer

ng, recruitment management and campus recruitment.
accounts for about 10% of

5
5
.
3
7
%
F
Y

2
0
2
1
odifications) 501

400
300
200
100
0

esumes modified daily (‘000)

 The recruitment market in India was already facing a slowdown in FY2020. COVID-19 further accentuated the
Naukri JobSpeak Index clearly highlights this. According to this index, hiring activities reduced by more than h
March, 2020 as the first wave of COVID-19 hit the country. Since June, 2020, there has been a gradual recov
was only in December, 2020 that the index reached the March, 2020 or pre-COVID-19 levels. In line with this
portfolio of the Company showed improvements in the second half of FY2021.

CHART L Jobspeak Index

1954
551 910

1755 1759 1727 1972 1925

1208 1263 1413

MAR 2020 APR MAY JUN JUL AUG SEP OCT NOV
2020 2020 2020 2020 2020 2020 2020 2020
While the market conditions were adverse, the Company remained steadfast on its commitment to achieving
out for the next round of growth in the recruitment solutions portfolio. This focuses on three simple and clear
• Retention of existing customers.
• Acquisition of new customers.
• Increasing revenue per customer.
• Strategic Investments/ Acquisitions.
In response to COVID-19 pandemic and to meet the above said objectives, we created StepUp campaign to h
customers. Some of the important initiatives of StepUp campaign were:
1. To help laid off jobseekers find jobs sooner, we enabled job seekers to mark themselves as laid off. The d
made easier for the recruiters. Furthermore, to incentivize recruiters to hire laid off jobseekers, we made acce
2. We conducted many webinars to guide jobseekers in their job search during turbulent times. We also prov
demand, the companies that were hiring, etc.
3. We provided one year free trial of RMS to customers to help them digitize their hiring processes.
In the existing product portfolio, the Company has identified that its offering fulfils the following demands: so
branding, assisted hiring and recruitment automation. Two clear gaps were identified including talent plannin
which is 70% of the traffic. Efforts have been made to fill these gaps by continuing our investments in produc
launched three new products:
1. Talent Pulse: This product gives insights into talent availability for different skills by gender, city, educatio
craft a talent sourcing strategy.
2. Mobile Branding: We have extended our desktop employer branding offerings to mobile. Employers can no
branding initiatives.
3. Enterprise Resdex: To better support the needs of enterprise customers of Resdex, we have launched Ente
edge AI features such as recruiter level search personalization and CV Recommendations from Resdex for job
insight into the talent team operations through usage insights. It also has several features to improve produc
enterprise users.
We continue to invest in improving the product. Some of the key investments are:
1. Taxonomy: We have created an authoritative database of the key entities of the Indian job market – comp
institutions, courses, skills, departments, roles, designations, and certificates. All the myriad combinations in w
spelled/named now maps to an authoritative name. This is the key building block for platform experience upli
2. Personalization: We are investing in Data Science and a digital experience platform to personalize job seek
Our investments are yielding results. For example, our search metrics for job seekers have improved by more
recommendation engine continues to get better. The content on the platform is now personalized to a job see
experiencing a much better scoring algorithm to help them shortlist the job applies better.
In addition, with a view to further strengthen the product offering, the Company keeps exploring innovative id
in recruitment space. With this focus, upcoming tech start- ups in the recruitment space are continuously eng
explored for a strategic investments or acquisitions. Our latest acquisition of Zwayam Digital Pvt. Ltd. (Zwaya
Pvt. Ltd. (DoSelect) and business of Roundone Network Pvt. Ltd. were an effort in this direction and shall help
offerings in Application tracking, assessment tools and job seekers offerings.
With this broad strategy in place, Info Edge continues to develop its recruitments business by enhancing its b
brands and different platforms are being developed within the recruitment space that support the core ‘naukr
brand architecture, the Company strives to provide differentiated products that can further penetrate the mar
revenue streams.
To enhance offering in this space, in FY2020 Info Edge acquired 100% stake in High Orbit Careers Pvt. Ltd. th
and [Link] through an all-cash deal. With 25,000 active jobs and 1.9 million registered users, [Link]
platform for management professionals and caters to around 900 leading corporate customers. In a similar sp
[Link], which is an exclusive recruitment platform for premium technology talent.
This year there were 1.4 million users registered on [Link]. These businesses are being gradually integrat
all [Link] products being sold through the Naukri sales team. While the business was affected by the CO
increased by 15.74% to
`252.18 million in FY2021 and Q4 billing witnessing a growth of 54.94% year on year.
To provide certain career related value-added services in the mid-premium end of the job segment, the Comp
platform. With the objective of creating greater engagement for the premium end of the [Link] clientele,
value-added service. It is a ‘recommendation only’ platform which has been developed by researching into th
providing relevant value-added services to a segment of its members. The business progressed well in FY202
Naukri Fast Forward provides value added services to [Link] subscribers with a focus on online driven re
revenue per customer. There is a wide gamut of services for customers including résumé development, résum
display features, interview training and SMS priority applicant. The focus areas where development activities a
generation through chatbox (IVR); reduction of customer complaints; improving sales team and customer inte
consultative approach to engagements; and enhancements in product delivery.
To service the blue-collar segment, the Company has launched [Link], which is a platform for this large
launched in FY2020 with primary focus on Delhi NCR. The business is in a very preliminary developmental sta
phase of incubation.
Today’s job seekers are very discerning. They want to know a lot more about a company such as culture,
perks, employee reviews, etc. before deciding to engage with it. To help job seekers on this front, we have be
AmbitionBox. AmbitionBox is a rapidly growing career advisory platform with a mission that helps job seekers
work. The site strives to provide all the information that would aid in the discovery and evaluation of work en
transparency. In a short span of time, one has witnessed a fast growing number of people on
the AmbitionBox platform discovering credible information of companies they wish to work. The plethora of in
reviews, salary insights and interview experiences that enable users make informed career decisions. More th
on a monthly basis to read over 30 lakh reviews, over 1 crore salaries and over 1 lakh interview questions acr
Other offerings in this space include: [Link], Quadrangle and [Link]
• [Link] works on replicating the [Link] model in the Middle East. While the initial focus was o
people from several nationalities use the site.
• Quadrangle offers off-line placement services to middle and senior management, with revenues based on
complements the online recruitment business. The business continues to perform creditably with minimal incr
• [Link] the site targets at hiring fresh students from campuses. Today, much of this hiring is don
business is to convert the existing offline activities to online and build on the potential of online campus hiring
development.
The Company maintains its high and continuous investment profile in the recruitment tools and systems busin
attract more clients. In a calibrated manner, Info Edge has also strengthened the customer support and data
The Company has also made strategic investments in related and adjacent business like Greytip Software Pvt

REAL ESTATE – 99 ACRES. COM

Like most sectors of the Indian economy, real estate was also adversely affected by COVID-19. Unfortunately
through a difficult phase in the last few years and the first phase of COVID-19 had a debilitating impact. With
curbs during the second half of FY2021, there was a sharp upturn in real estate activities. However, this upsid
of COVID-19 that began in April, 2021 brought with it another round of uncertainty.
There are however some positives. First, as was alluded to in earlier Annual Reports, even as overall marketin
estate sector, there is now a clear trend of increasing real estate advertorial spends on the online platform at
the trend of using the online platform in the real estate sector for greater and longer engagement with custom
the rate of growth is slow and steady. Both these factors got a positive push in the COVID-19 environment w
internet and online mechanisms in a ‘stay at home’ environment.
Revenue streams for [Link] originate from:
1) Projects: listings, featured listings, microsites, email campaigns and banner advertisements.
2) Resale of properties: Listings and featured listings.
3) Rental properties: Listing and featured listings.
Box 3 gives the performance highlights of [Link]. In line with the market conditions, the Company’s rea
difficult phase in FY2021. Across all the revenue streams mentioned above, there were reduction in sales thro
 -19 further accentuated the adverse situation of hiring. The
ies reduced by more than half in April, 2020 compared to
e has been a gradual recovery month on month. However, it
D-19 levels. In line with this trend, the recruitment solutions

2356 2436

1972 1925

DEC JAN FEB MAR 2021

2020 2021 2021
commitment to achieving the mid-term strategic path rolled
s on three simple and clear objectives:

ated StepUp campaign to help our jobseekers as well as

emselves as laid off. The discovery of these jobseekers was

jobseekers, we made access to their CVs free.
rbulent times. We also provided them insights into the skills in

hiring processes.
the following demands: sourcing, assessment, desktop
ed including talent planning and branding offering on mobile,
g our investments in product during these turbulent times. We

s by gender, city, education, CTC, etc and helps TA heads

o mobile. Employers can now reach all naukri traffic with their

dex, we have launched Enterprise Resdex. It provides leading

dations from Resdex for job posting. It helps enterprises gain
eatures to improve productivity of
e Indian job market – companies, locations, educational
he myriad combinations in which an entity may be
or platform experience upliftment.
orm to personalize job seeker as well as recruiter experience.
ers have improved by more than 50%. Our job
w personalized to a job seeker. Our recruiters are
s better.
eeps exploring innovative ideas and strong product offerings
space are continuously engaged and opportunities are
am Digital Pvt. Ltd. (Zwayam), Axilly Labs
this direction and shall help the Company improve its

business by enhancing its brand architecture. Several sub-

hat support the core ‘naukri’ brand. Through this multi-tiered
n further penetrate the market and create multiple avenues of

gh Orbit Careers Pvt. Ltd. that owns the domain [Link]

gistered users, [Link] is India’s leading recruitment
e customers. In a similar space, the Company also operates
nt.
re being gradually integrated into the Info Edge system, with
ness was affected by the COVID-19 pandemic, annual billing

ear.
the job segment, the Company is developing the Bigshyft
of the [Link] clientele, this platform is envisaged as a
oped by researching into the [Link] database and
s progressed well in FY2021.
a focus on online driven revenue generation and increased
ésumé development, résumé critique, recruiter connection,
ere development activities are going on include lead
ales team and customer interactions to evolve a more

is a platform for this large untapped market. This was

liminary developmental stage and is going through the first

mpany such as culture,

rs on this front, we have been investing in building
sion that helps job seekers in India discover best places to
and evaluation of work environment to increase workplace
f people on
to work. The plethora of information includes employee
d career decisions. More than 4.5 Mn users visit AmbitionBox
akh interview questions across nearly 5 lakh companies.
om
While the initial focus was on the Indian diaspora, today

nt, with revenues based on a success fee model. It

creditably with minimal incremental investments.
, much of this hiring is done offline, and the focus of this
ntial of online campus hiring. This is at a nascent stage of

ent tools and systems business as it adds more features to

customer support and data science team for this segment.
s like Greytip Software Pvt. Ltd.

y COVID-19. Unfortunately, this sector was already going

a debilitating impact. With the gradual easing of COVID-19
tivities. However, this upside was short as the second phase
y.
ts, even as overall marketing spends reduced in the real
s on the online platform at the cost of print media. Second,
er engagement with customers is evolving positively although
e COVID-19 environment with greater utilisation of the

vertisements.

nditions, the Company’s real estate portfolio went through a

were reduction in sales through FY2021.
 [Link]: Billing (` million)
CHART M 800.00 717.06
700.00
600.00 605.46
500.00
400.00 484.09
300.00
200.00 466.85
100.00

FY 2021 140.23
FY 2020                                                                                                                                    
Q1 Q2 Q3 Q4
In terms of traffic share, [Link] continues to maintain its leadership positioning. However, competition
market and there is pressure on the dominant positioning of [Link] (see Chart N). During FY2021, 99ac
traffic share (including visits on desktops, laptops and web mobile) in excess of 40%.
CHART N

99acres Internet Traffic Share (overall)

60%
50%
40%
30%
20%
99ACRES 10%
0
      COMPETITION

Source: [Link]

BOX 3 Performance Highlights: [Link]

• Billings from 99acres rebounded with robust growth of 41.49% YOY during Q4
of FY2021 at `717.06 million, after witnessing degrowth for first 3 consecutive
quarters of 71.03%, 22.89% & 3.52% at `140.23 million, `466.85 million and
`524.00 million for Q1, Q2 & Q3 respectively.
• Net revenue decreased by 23.77% from `2,279.61 million in FY2020 to
`1,737.78 million in FY2021.

• Registered losses before tax and un-allocable items of `356.95 million in

FY2021.
As on March 31, 2021, total projects listed, including ready to move in and under construction, were over 172
around 959,923, of which owner listing was around 49%. Of the total listing, 823,892 were residential, while
of number of customers,
the owners are dominant with 26,100 registrations, followed by brokers with 18,800 and finally 4,400 builders
dominant with 55% share, while builders contribute 40% and owners’ share is 5%.
While the business faces headwinds due to recessionary market conditions, management has focused on wor
for [Link] with a clear focus on regaining market dominance and embarking on the next round of grow
There were a series of initiatives primarily across some key areas, such as: creating category focus, enhancin
platform UX for enquiry growth, reducing sales and operations costs and reprioritising platform investments, a
communication that focuses on trust and credibility.
In order to create category focus, [Link]:
• Re-organized the product or business teams by category: new projects, resale, rental, and commercial.
• Across the team, a more focused approach has been deployed with clarity on opportunities and plans for a
• A city-wise approach has been adopted for marketing, supply, content, and sales ‘Go to Market’ initiatives.
To enhance leadership bandwidth, new team members have been appointed, which has brought more focuse
With deployment of platform UX we experienced simplified project discovery and also augmentation of leads
this platform a series of “real estate intelligence” products are being launched to build the foundation for futu
During the lockdown period, the sales team structure was reorganized for better go-to-market execution. This
that also includes right sizing and deploying more automated operations across processes. The revised sale st
deliverables.
With the revised organization structure firmly in place, [Link] is focusing on delivering on the following
• Build clear lead in genuine supply from owners and brokers.
• Effectively remove spam and build more trust signals on the site.
• Get recognition as a differentiated product with useful real estate intelligence.
• Build a strong delivery engine for large builders and commercial properties during launch and post- launch
• Drive premium positioning with brokers and builders.
• Build business to customer monetization with owners-buyer-tenants, with relevant services and products t
greater convenience.
• Become an investor-friendly destination.
• Build and sustain brand building efforts on pillars of trust and credibility using true real estate intelligence.
Even under the adversities of COVID-19, [Link] continued to focus on deploying its revised strategy. Th
structure has already started to pay dividend. The business is ready to embark on the next round of growth, w
traffic share but also provides much more focused and value-added services to its customer base and increas
both corporate and individual.

The Company has made strategic investment in related and adjacent business in Terralytics Analysis Pvt. Ltd.
MATRIMONIAL: [Link]
Estimates suggest that close to 20-25 million get married in India every year, which is the potential pool of us
increasing smartphone and internet penetration, along with increased migration of youth, online platforms are
this pool in the next three to five years. The online matrimony market is expected to grow at 14%-15% CAGR
which was impacted by the pandemic). In India, the online matrimony classifieds industry was estimated to b
However, marriage matchmaking is a highly fragmented market in terms of regions within India and commun
several players present in the market — over 1,500 sites in India according to The New York Times. Having s
cater to a specific region or community, instead of becoming pan-India, cross-community players. Given diffe
only a few large players that dominate this market.
It is important to appreciate the regional dynamics in the marriage market in India. Marriages in India are arr
important for a business to have relevant strength in each market it operates in. This forms the core of jeevan
communities. The south-Indian market contributes to 50% of the overall matchmaking market in country tod
recent years. The rest of the country, with more than 75% of the population, is now clocking higher growth r
Jeevansathi has focused on the faster growing North and West India, which has helped it to sustain higher gr
competition. It is one of the leaders in these markets through sharper focus and sustained investments made
and product innovation.
Jeevansathi offers a matchmaking platform which allows users to register, search and express interest in pros
platform. Initiating conversation with other users through various means on the platform requires users to bu
defined durations. Some value-added subscription plans also offer higher visibility on the platforms and assist
Jeevansathi’s revenue is from subscriptions, which include first time and renewing user payments.
Box 4 gives the performance highlights for this business.

BOX 4 Performance Highlights: [Link]

• Billings from Jeevansaathi continued with robust quarterly growth at 13.34%,

18.61%, 17.03% & 12.19% at `227.96 million, `246.70 million, `261.88 million
and `267.22 million for Q1, Q2, Q3 & Q4 respectively during the year.

• Revenues from the matrimonial business increased by 14.39% to `968.96

million in FY2021.

• Operating EBITDA loss increased from `632.04 million in FY2020 to `955.57

million in FY2021.
 543.11

524.00 506.81
466.85

                                                                           
Q4
ntain its leadership positioning. However, competition has increased expenditures in the
ng of [Link] (see Chart N). During FY2021, [Link] maintained an overall
web mobile) in excess of 40%.

obust growth of 41.49% YOY during Q4

sing degrowth for first 3 consecutive
`140.23 million, `466.85 million and
ely.
m `2,279.61 million in FY2020 to

ocable items of `356.95 million in

eady to move in and under construction, were over 172,421, while total listings were
%. Of the total listing, 823,892 were residential, while 136,031 were commercial. In terms

owed by brokers with 18,800 and finally 4,400 builders. In terms of billings, brokers are
% and owners’ share is 5%.
y market conditions, management has focused on working on the mid-term growth path
dominance and embarking on the next round of growth.
key areas, such as: creating category focus, enhancing leadership bandwidth, deploying
erations costs and reprioritising platform investments, and launching a new brand

egory: new projects, resale, rental, and commercial.

n deployed with clarity on opportunities and plans for all categories.
ng, supply, content, and sales ‘Go to Market’ initiatives.
have been appointed, which has brought more focused execution across the vertical.
fied project discovery and also augmentation of leads to our large advertisers. Through
cts are being launched to build the foundation for future growth.
was reorganized for better go-to-market execution. This initiative is an ongoing process
mated operations across processes. The revised sale strategy focuses on a series of

[Link] is focusing on delivering on the following objectives:

brokers.
s on the site.
ful real estate intelligence.
commercial properties during launch and post- launch of new projects.
s.
rs-buyer-tenants, with relevant services and products to help close deals and provide

trust and credibility using true real estate intelligence.

continued to focus on deploying its revised strategy. The new vertical focused organization
ness is ready to embark on the next round of growth, where it not only garners maximum
value-added services to its customer base and increases its returns from each customer —

d and adjacent business in Terralytics Analysis Pvt. Ltd. and 4B Networks Pvt. Ltd.
ed in India every year, which is the potential pool of users for the category. With
with increased migration of youth, online platforms are expected to garner more share of
trimony market is expected to grow at 14%-15% CAGR in this period (barring FY2021,
nline matrimony classifieds industry was estimated to be around `7.5 billion in FY2021.
d market in terms of regions within India and communities. Consequently, there are
es in India according to The New York Times. Having said so, many of these sites also
oming pan-India, cross-community players. Given different levels of credibility, there are

he marriage market in India. Marriages in India are arranged within communities, and it is
ach market it operates in. This forms the core of jeevansathi’s strategic focus on certain
50% of the overall matchmaking market in country today, but growth has reduced in the
75% of the population, is now clocking higher growth rates.
nd West India, which has helped it to sustain higher growth momentum than its
hrough sharper focus and sustained investments made over the last few years in brand

ws users to register, search and express interest in prospective matches for free on the
gh various means on the platform requires users to buy subscriptions for certain pre-
s also offer higher visibility on the platforms and assisted services. Almost all of
ude first time and renewing user payments.
s.

with robust quarterly growth at 13.34%,

million, `246.70 million, `261.88 million
respectively during the year.

ess increased by 14.39% to `968.96

m `632.04 million in FY2020 to `955.57

 Jeevansathi: Billing (` million)
CHART O 300.00 227.96 246.70
250.00

200.00
150.00 201.13 207.99

100.00
FY 2021 50.00

FY 2020                                                                                                                                    
Q1 Q2 Q3 Q4
From an operations perspective:
• Profiles grew by 21% in FY2021 with the business seeing strong traction in tier 2/3 markets.
• Unique conversations (between users) on the platform increased up by 19% in FY2021.
The COVID-19 pandemic had multiple impacts on the business. This requires a more detailed analysis.
From the perspective of sustainability, there was strong traffic growth on the platform during the lockdown. T
growth in the same period.
The COVID-19 phase helped us continue to build the brand backed up by a strong marketing campaign. Give
savings have been realized in terms of lower costs of TV campaigns for most part of FY2021. Digital marketin
costs. From a company perspective, there were efforts to bring efficiency in the business drivers.
As a business, there were certain focused steps that were specific to the COVID-19 lockdown period. These in
• Engaging users through Jeevansathi Milan Samarohs:
o Introduced events on weekday evenings during lockdown.
o Rebranded event communications using ‘Stay Home, Stay Safe’ and pitching ‘Video Calling’ as an alternati
communication.
o Witnessed about 20% increase in Daily Average Usage (DAU) in the communities targeted on hangout day
• Contextualized lockdown communication on TV and Webinars:
o Milan Samaroh supers to drive platform events.
o Specific communications on distancing led messages: video voice calling, Milan Samaroh, with video profil
users.
o Webinars (Zoom, Facebook Live): Jeevansathi Live Gupshup series to interact directly with the Jeevansath
across multiple phases in the partner search process. (e.g., styling masterclass, success stories and product m
As a product, Jeevansathi continues to innovate and recalibrate its offering. The focus is on driving the next le
penetration in the core markets in North and West India to improve platform’s matchmaking capability and in
the platform through product innovations and marketing communication; make the platform work for both th
— offering each set a more personalized experience; and offering more product features and services to our u
their search for a good match.
The entire product innovation is being driven in line with the investment strategy. With a focus on superior us
several features that are the first in the industry. This includes video profiles, video/audio calling, AI/ML based
based events, top rate app experience and online seamless ID based verifications. Jeevansathi continues to b
experience in this space.
Going forward, increasingly a social-media driven strategy is at the core of reaching out to newer audiences a
promise. This includes a regional strategy delivery that is transforming into share gain in key regions through
dominance and optimizations. Large part of marketing spent is towards enhancing brand presence. There rem
YouTube and Digital Branding. Already, using these tools has been effective in building on the brand promise
helped increase app downloads.

EDUCATION: [Link]
[Link] is the Company’s offering in the online education classifieds space. The website has been strateg
helps students decide undergraduate and postgraduate options, by providing useful information on careers, e
essentially a college and course selection site and not a course provider site.
Certain external developments have provided impetus for the growth of Shiksha. The New Education Policy th
Government of India opens more opportunities for online courses as their credits get recognised. There are n
set up, many of which are in the private sector offering different kind of courses. Students need a platform to
As study indicates more than 45% of students will be open to online degree from premium colleges/ universit
penetration of internet among students and ease of search and discovery offered by the platform, more stude
education, awareness and information. All these factors are necessitating the greater use of the kind of servic
To achieve its objective of becoming the most useful platform for career and college selection, the site levera
useful, differentiated content, data and tools, driven by deeper understanding across courses; excelling in eas
students or parents are looking for; utilizing technology-led differentiators around generating and discovering
one counselling for students striving to make career choices or aspiring to study abroad; and focus on genera
which provides the fuel to make the next round of investments to further develop the product.
The business generates revenues from the following sources:
1) Branding and advertising solutions for colleges and universities (UG, PG, post-PG). It has received advertis
foreign entities.
2) Lead generation: Potential student/applicants details are bought by colleges and their agents. Full counsel
international university partners.
Prospective students have free access to all information on this site. Box 5 gives the highlights of this brand d
 261.88 267.22

223.77 238.19

                                                             

ong traction in tier 2/3 markets.

sed up by 19% in FY2021.
This requires a more detailed analysis.
rowth on the platform during the lockdown. This was backed by a strong billing

ked up by a strong marketing campaign. Given the overall market sluggishness,

gns for most part of FY2021. Digital marketing sources too have seen a dip in
efficiency in the business drivers.
ic to the COVID-19 lockdown period. These included:

fe’ and pitching ‘Video Calling’ as an alternative to meetings including in TV

) in the communities targeted on hangout days.

s:

voice calling, Milan Samaroh, with video profiles to drive engagement for existing

series to interact directly with the Jeevansathi user base and share expertise
ng masterclass, success stories and product master class).
its offering. The focus is on driving the next level of growth by deepening
ove platform’s matchmaking capability and increase monetization; build trust in
unication; make the platform work for both the prospects as well as their parents
g more product features and services to our user base which can help them in
estment strategy. With a focus on superior user experience, Jeevansathi launched
ideo profiles, video/audio calling, AI/ML based recommendations, online video-
ased verifications. Jeevansathi continues to be the leader in offering the best

he core of reaching out to newer audiences and strengthening the brand

orming into share gain in key regions through localized communication, media
owards enhancing brand presence. There remains continued emphasis on
en effective in building on the brand promise and scaling up app campaigns has

lassifieds space. The website has been strategically positioned as a platform that
by providing useful information on careers, exams, colleges and courses. It is
provider site.
owth of Shiksha. The New Education Policy that has been devised by the
s as their credits get recognised. There are now several new universities being
kind of courses. Students need a platform to better understand these offerings.
nline degree from premium colleges/ universities in near future. With higher
discovery offered by the platform, more students are coming online for their
essitating the greater use of the kind of services provided by [Link].
or career and college selection, the site leverages its core strengths of generating
understanding across courses; excelling in ease of finding the information
rentiators around generating and discovering content; providing superior one-to-
aspiring to study abroad; and focus on generating high ROI for key accounts,
o further develop the product.

es (UG, PG, post-PG). It has received advertising revenues from both Indian and

ght by colleges and their agents. Full counselling services are provided for

site. Box 5 gives the highlights of this brand during FY2021.

 [Link]: Billing (` million)
CHART P 250.00
200.00
150.00
160.67

107.93

100.00 115.09 93.71

50.00

FY 2021
FY 2020                                                                                                                                    
Q1 Q2 Q3 Q4
[Link]’s business strategy is focused on driving growth by working on multiple fronts:
A) Improving the comprehensiveness of contents with real time update.
B) Creating Differentiators – personalisation and profile based predications and recommendations.
C) Increase responses/ leads for advertisers.
D) Scale up Study Abroad business.
The content on the platform has been broadened significantly, and today there is information on a much wide
the MBA, which was our traditional strength. We received more then 6.1 million registration during the last F
listings from more than 49,000 colleges the business is a market leader in its category in terms of numbers of
Info Edge continues to invest in this business to make the content comprehensive and more student- friendly
this vertical. Going forward, these initiatives should help in generating more response for our users and increa
The Company has made strategic investments in related and adjacent business in companies named- Sunrise
Educational Gateway Pvt. Ltd.

BOX 5 Performance Highlights: [Link]

• Billings from Shiksha witnessed robust quarterly growth at 15.17%, 27.87% and
45.15% YOY during Q2, Q3 and Q4 of FY2021 at `107.93 million, `169.44 million
and `193.93 million respectively, after degrowing @ 28.37% YOY at `115.09
million during Q1.

• Billing increased by 12.66% from `520.51 million in FY2020 to `586.39 million in

FY2021.

• Revenues from [Link] increased by 6.93% to `569.61 million in FY2021.

• Operating EBITDA increased from `12.15 million in FY2020 to `40.97 million in

FY2021.
CORPORATE FUNCTIONS
The different business portfolios are strongly supported by Info Edge’s centralised functions – primarily huma
development, sales network, finance, legal, treasury and the IT Infra team. These functions leverage econom
cost effective
centralised support to all the different businesses under the Company. In an environment that promotes dece
central functions also play a critical role in developing and executing essential systems, structures, processes,
independent business brands to effectively execute their plans within a corporate structure of checks and bala
As the year began with uncertainty, major focus was the safety of all employees and their families and to ens
the teams to work from home. Not only the IT Infra, HR, Finance, Facility support and other corporate functio
who leveraged technology to shift the workforce to new work from home, but all the employees who very qui
working and meeting remotely, still not missing a beat and meeting all expectations of the stakeholders.
FY2021 has been the year of unprecedented uncertainty in the financial market and liquidity conditions. Info
navigate through this uncertainty and volatility. The Company successfully completed its Qualified Institutiona
unprecedented times with overwhelming response from the investors. Your Company’s treasury operations co
deployment of surplus liquidity in line with the Company’s policy on Treasury Fund Management that emphas
Preservation of Capital and Liquidity.
Being primarily a services company operating in the online space, Info Edge’s primary assets are its people. W
are also the largest element of its costs and the core to
utilisation of technology, development of its online platforms, growth of its brands and promotion of its offerin
Resource (HR) Management function plays an extremely critical role in the overall development of the Compa
In the aftermath of COVID-19, FY2021 saw work trends and workforce expectations undergo a sea change. A
lives and it meant we had to shift the priorities related to workforce and talent. Globally, enterprises were dep
respond to these shifting elements and align companies with modern-day business essentials ranging from up
and inclusion, existing employee wellness and new hire onboarding.
Info Edge rose to the occasion with employees far and wide coming up with innovative strategies to engage,
extend support to all stakeholders. For adapting to the new normal, the focus has shifted from reacting and r
preparing.
From an HR management perspective, it was important to support all necessary elements to overcome the pr
mode of operations, while also taking necessary steps
for supporting the business transformation underway for the mid- to long-term development of the Company.
undertook an organisation wide rebranding exercise and launched the new Career Stage Framework. Essentia
organization to staff key roles based on peoples’ skills and leadership abilities. At the same time, it empowers
to make meaningful career choices. This is achieved by enabling a unified view of compensation, performance
employee.
The evolution of the different brands, new-age market challenges, ever increasing use of data sciences and fa
in the online space have warranted a structural shift in
the human skillsets required in the Company. This process is under way across the organisation. Specifically,
key new hiring in the senior management including the appointment of a sales head for Naukri; a data scienc
head.
In an endeavour to evolve into an increasingly talent-driven organization, it was essential to spell out
what the Company expects from its employees. Accordingly, the 11 Info Edge Leadership principles were introd
simple to understand and actionable. This will form the basis for all employee behaviour and actions in the Com
The Graduate Traineeship and Internship (Engineering) has been set up where final year engineering undergrad
Science and IT disciplines in India participate as a part of their academic curriculum. This internship program w
objective of building a stronger brand at the campuses and to assimilate the campus hires quicker. This also pr
engineering teams to work on certain projects from a dedicated and fresh perspective. Piloted in 2020, this pro
with everyone completing it and converting to full time employee of the Company. There is an active batch of 1
this program in 2021.
In the internet industry, the biggest threat is from daily disruptions and new innovations. Hence, Info Edge nee
competitors in the market and build a company which is in sync with the evolving technologies and emerging c
pace of
organizational growth so required, it is critical for people to continuously scale up and take larger roles. They ne
with the latest knowledge and skills that are out there. With these objectives, there is a host of learning and de
which are centred around 70: 20: 10 mix: 70% on-the-job training; 20% on-going coaching and feedback and
offerings.
The performance management mechanism at Info Edge takes the ethos of promoting innovation and meritocra
employees to take charge of their goals, performance and their professional journey with the Company. This is
setting supported by OKR framework which enables us to reflect back and plan forward, as well as to push our
which enable authentic dialogues on performance and careers with all relevant stakeholders. There are periodic
planning meets that enable the organization to stay agile and take real-time decisions. And there is strong perfo
closely linked talent and rewards framework which lays strong foundation for the meritocracy culture at Info Ed
the top talent.
In line with the pursuit of fostering meritocracy and building high performing teams, various reward and recogn
institutionalized. At the company level, through Info Edge Merit Awards, teams or individual employees are reco
through impactful cross functional projects or shown exemplary leadership skills. These include:
• Info Edge Merit Awards: This is an opportunity for all teams and individuals to showcase and celebrate how
organization. The award category includes team awards as well as individual excellence in sales, technology an
• Service Awards: This is aimed at celebrating service milestones. “We Value You” awards enable the Compan
association and contribution towards the organization.
• In addition to the company level awards, recognition programs have been designed across all departments a
parameters and winner felicitation.
The Human Resource Information Systems (HRIS) platform was completely revamped to an updated and much
migration was essential with the objective of enabling management decision-making with deeper insights based
Launched in 2013, the Company continued to implement its annual survey, iSPEAK, in FY2021. This is not just a
index, but also to initiate some high impact business and talent decisions. Essentially, it is a platform through w
employees and drives some high impact business and talent decisions, which are essential to continuous chang
continues to maintain robust response rates of 89% and over the years. During FY2021, despite all teams work
percentage point improvement in the score over the previous year.
This is line with continuous improvements in the Company’s iSPEAK scores year-on-year.
A major factor contributing to Info Edge’s success is the organised pan-India sales network that support the t
Company continues to become more technologically integrated, the sales organisation is being made more pr
optimised.
While at the end of FY2020, the Company had a nation-wide physical presence through 77 company branch o
the end of FY2021, this was reduced to 70 company branches across 45 cities. The sales work force has redu
servicing and client facing staff by the end of FY2020 to 2,767 such staff by the end of FY2021 who support t
Having said so, with a share of 63% in the total Company’s workforce, the team remains a strong source of c
Company’s brands in the market. In the present business environment, this network is playing an even more
reach of the Company’s services into smaller towns and markets. This sales organisation remain critical to the
being actively developed to make the function even more effective and productive in the ever-changing mark
Adoption of newer technology remains the core of the next generation of productive tools being deployed in t
be steady investments in data science, artificial intelligence
(AI) and machine learning capabilities. The data science, technology and innovations teams support in the de
products, especially for mobile applications across different brands. Technology is also being used and applied
and spams
on the platform. The Company continued to focus on improving the platform efficiency and product experienc
of tools relating to AI and deep learning technologies. This is supplemented with development of appropriate
Due to increases in the number of people working from home as a result of COVID-19, video profiling has bec
platforms, specifically [Link], 99 [Link] and [Link]. At [Link] 10% of applying jobse
video profile, this allows recruiters to view the video profile, and at the same time also facilitates video intervi
can be uploaded by an owner or property dealer onto our real estate platform, [Link]. [Link]
by prospective brides
or grooms and the option of video chats is also available. These new functionalities are becoming permanent
online platforms.
Except for the AWS disaster recovery server which is based in Singapore, all the Company’s servers are based
parties. The team adopts various technology platforms including open-source technology to develop the appli
design and update and most of the proprietary software development is done entirely in-house. The Company
product design, artificial intelligence and data science capabilities. Across the businesses, there is a healthy pi
and features and the Company is also focused on innovating and adding new functionalities in different platfo
machine learning.
INVESTEE COMPANIES
In addition to the four business segments, Info Edge has been investing in external entities that have been en
entrepreneurs with own management teams. Here, Info Edge purely plays the role of an investor and provide
Companies invested into have the potential to become a part of the four core businesses of the Company. Ho
investments that are focused on diversifying across the online business landscape of India and to benefit from
of these enterprises.
Each of these investments involves a specific financing structure involving equity. In the initial stages, most o
cash with the mid to long term goal of creating multiple growth in company valuations. Consequently, the con
Edge is usually a drag on the stand-alone performance, as the cash invested from the stand- alone company
investee companies.
 193.93

169.44

132.51 133.61
93.71

                                                                          
Q4
rowth by working on multiple fronts:
real time update.
based predications and recommendations.

cantly, and today there is information on a much wider spectrum of courses apart from
ed more then 6.1 million registration during the last FY. With more than 295k course
a market leader in its category in terms of numbers of students.
he content comprehensive and more student- friendly and build deep domain expertise in
p in generating more response for our users and increase traffic on the site.
d and adjacent business in companies named- Sunrise Mentors Pvt. Ltd. and International

uarterly growth at 15.17%, 27.87% and

021 at `107.93 million, `169.44 million
owing @ 28.37% YOY at `115.09

51 million in FY2020 to `586.39 million in

y 6.93% to `569.61 million in FY2021.

5 million in FY2020 to `40.97 million in

 by Info Edge’s centralised functions – primarily human resource management and
d the IT Infra team. These functions leverage economies of scale and scope to provide

the Company. In an environment that promotes decentralised decision making, these

nd executing essential systems, structures, processes, and controls that allow the
r plans within a corporate structure of checks and balances.
e safety of all employees and their families and to ensure this, the Company fully enabled
R, Finance, Facility support and other corporate function teams deserves the accolades
work from home, but all the employees who very quickly adapted to this new world of
and meeting all expectations of the stakeholders.
y in the financial market and liquidity conditions. Info Edge was successfully able to
mpany successfully completed its Qualified Institutional Placement during such
the investors. Your Company’s treasury operations continued to stay focused on the
y’s policy on Treasury Fund Management that emphasizes the key objectives of

ne space, Info Edge’s primary assets are its people. With a share of around 60%, they

orms, growth of its brands and promotion of its offerings. Consequently, the Human
y critical role in the overall development of the Company.
and workforce expectations undergo a sea change. A new normal was set in people’s
o workforce and talent. Globally, enterprises were depending on their HR function to
with modern-day business essentials ranging from upskilling to remote work, diversity
onboarding.
wide coming up with innovative strategies to engage, encourage, retain, protect and
new normal, the focus has shifted from reacting and responding to reshaping and

to support all necessary elements to overcome the present challenges of adopting a WFH

r the mid- to long-term development of the Company. As part of this vision, the Company
d launched the new Career Stage Framework. Essentially, this framework enables the
nd leadership abilities. At the same time, it empowers employees
enabling a unified view of compensation, performance, and potential for each individual

challenges, ever increasing use of data sciences and fast adoption of newer technologies

ess is under way across the organisation. Specifically, during FY2021, there were some
appointment of a sales head for Naukri; a data science head and an information security

iven organization, it was essential to spell out

gly, the 11 Info Edge Leadership principles were introduced, which are contemporary,
asis for all employee behaviour and actions in the Company in the future.
as been set up where final year engineering undergraduate students from Computer
their academic curriculum. This internship program was developed with the twin
d to assimilate the campus hires quicker. This also provided an opportunity for
icated and fresh perspective. Piloted in 2020, this program saw 16 students participate
mployee of the Company. There is an active batch of 12 final year students undergoing

sruptions and new innovations. Hence, Info Edge needs to stay relevant and ahead of the
n sync with the evolving technologies and emerging customer needs. Considering the fast

o continuously scale up and take larger roles. They need to stay abreast and equipped
th these objectives, there is a host of learning and development offerings at Info Edge
b training; 20% on-going coaching and feedback and 10% through host of learning

akes the ethos of promoting innovation and meritocracy forward and empowers
d their professional journey with the Company. This is enabled through quarterly goal
reflect back and plan forward, as well as to push our limits. There are regular check-ins
eers with all relevant stakeholders. There are periodic business reviews and business
and take real-time decisions. And there is strong performance differentiation with a
rong foundation for the meritocracy culture at Info Edge and ensures faster growth for

ng high performing teams, various reward and recognition programs have been
Merit Awards, teams or individual employees are recognized who have contributed
mplary leadership skills. These include:
eams and individuals to showcase and celebrate how they have made a difference to the
s well as individual excellence in sales, technology and other functions.
ilestones. “We Value You” awards enable the Company to celebrate people’s long-term

rograms have been designed across all departments and functions with clearly defined

m was completely revamped to an updated and much more complete version. This
nagement decision-making with deeper insights based on credible and accurate data.
its annual survey, iSPEAK, in FY2021. This is not just a measure to manage capability
talent decisions. Essentially, it is a platform through which the Company hears its
ent decisions, which are essential to continuous change. The Company
over the years. During FY2021, despite all teams working from home, there was a 2
ous year.
y’s iSPEAK scores year-on-year.
 organised pan-India sales network that support the technology driven websites. As the
egrated, the sales organisation is being made more productive while the size is being

wide physical presence through 77 company branch offices across 47 cities in India, by
anches across 45 cities. The sales work force has reduced from around 3,098 sales,
2,767 such staff by the end of FY2021 who support the businesses.
ny’s workforce, the team remains a strong source of competitive advantage for the
ss environment, this network is playing an even more critical role in further expanding the
markets. This sales organisation remain critical to the Company and various tools are
re effective and productive in the ever-changing markets.
ext generation of productive tools being deployed in the organisation. There continues to
nce
e, technology and innovations teams support in the development of more user-friendly
ent brands. Technology is also being used and applied to prevent and detect cyber frauds

mproving the platform efficiency and product experience. There is emphasis on utilisation
his is supplemented with development of appropriate content.
home as a result of COVID-19, video profiling has become an integral part of all the
[Link]. At [Link] 10% of applying jobseekers profile on the platform are
ofile, and at the same time also facilitates video interviews. Similarly, videos of properties
ur real estate platform, [Link]. [Link] permits uploading of video profiles

e. These new functionalities are becoming permanent features on most of the Company’s

sed in Singapore, all the Company’s servers are based in India and managed by third
ncluding open-source technology to develop the applications and websites. Website
e development is done entirely in-house. The Company continues to invest in technology,
apabilities. Across the businesses, there is a healthy pipeline of innovation, new products
ating and adding new functionalities in different platforms through application of AI and

s been investing in external entities that have been envisaged and managed by different
Edge purely plays the role of an investor and provides broad guidance. Some of the
a part of the four core businesses of the Company. However, these are primarily
online business landscape of India and to benefit from long-term value creation of each

structure involving equity. In the initial stages, most of these investee companies burn
growth in company valuations. Consequently, the consolidated financial results of Info
as the cash invested from the stand- alone company generates a series of losses in the
 Info Edge is very conscious of the risk-return profile of these investments and adopts a cautious approach to
many of the enterprises that we have invested into are at early or nascent stages of development.
However, few investee companies have matured to levels where they are in advanced stages of moving on to
stock exchange listing like Zomato and Policybazaar.
The valuation realised from such public listing will go a long way in further strengthening the balance sheet p
The book value of investments in these companies was `11,034 million as of March 31, 202
portfolio, some investments get written off given the lack of progress in the businesses. So far, from inception
`3,218 million worth of investments were written off or provsioned for. Table 2 gives the status of Info Edge’s

TABLE 2 Investee Company Portfolio Status as on March 31, 2021

INVESTEE COMPANY WEBSITE BOOK VALUE OF APPROX. DILUTED
INVESTMENT AS AND CONVERTED
OF MAR 31, 2021 SHAREHOLDING %
(` MILLION) (ACTUAL)

Active

Zomato Limited [Link] 1,522 20.65%

PB Fintech Limited [Link] 5,758 13.98%

Happily Unmarried Marketing Private Limited [Link] 323 29.88%

NoPaperForms Solutions Private Limited [Link] 337 48.10%

International Educational Gateway Private Limited [Link] 205 39.88%

Agstack Technologies Private Limited [Link] 259 35.74%

Bizcrum Infotech Private Limited [Link] 263 29.68%

Medcords Healthcare Solutions Private Limited [Link] 96 15.76%

Printo Document Services Private Limited [Link] 189 27.51%

Shop Kirana E Trading Private Limited [Link] 604 25.36%

Greytip Software Private Limited [Link] 350 21.78%

Metis Eduventures Private Limited [Link] 280 16.97%

Terralytics Analysis Private Limited [Link] 50 20.00%

LQ Global Services Private Limited [Link] 40 21.45%

Llama Logisol Private Limited [Link] 271 22.45%

Sunrise Mentors Private Limited [Link] 371 25.00%

4B Networks Private Limited [Link] 90 12.26%

Crisp Analytics Private Limited [Link] 15 2.50%

Unbox robotics Labs Private Limited [Link] 11 1.46%

Total 11,034
Note:
1.) The above shareholding is not considering any dilution due on account of any prospective ESOP exercise.
2.) Diluted stake % for Zomato in above table has been calculated ( as on 31st Mar’21) after excluding non participative / vo
above table does not includes any investments done through IEVF ( Infoegde Venture Fund).
ts a cautious approach to these investments. As of today,
f development.
ed stages of moving on to a public offer of their shares and

ening the balance sheet position of Info Edge.

on as of March 31, 2021. While nurturing this investment
sses. So far, from inception till March 31, 2021, a total of
es the status of Info Edge’s investee company portfolio.

OP exercise.
cluding non participative / voting rights of other investors. 3.) The
 INVESTEE COMPANY PERFORMANCE REVIEW
The objectives of the strategy of the investee company portfolio are:
a) To gain financially from the success stories of value creation by new age tech startups.
b) To explore synergies by investing significant minority stake in companies that strategically support the off
businesses; and to acquire such enterprises, if clear synergies are seen with any existing business.
c) To acquire companies with differentiated offerings and models in the adjacencies to the company’s core o
The financial performance of these companies are given in Table 3.

TABLE 3 Revenues and Operating Profits of Investee Companies (` million)

INVESTEE COMPANY WEBSITE OPERATING REVENUE OPERATING EBITDA

FY 2020 FY 2021 FY 2020

Partly owned subsidiary

Applect Learning Systems Pvt. Ltd.* [Link] 245.75 - (211.89)
Associate Companies
Zomato Ltd. [Link]
PB Fintech Ltd. [Link]
Happily Unmarried Marketing Pvt. Ltd. [Link]
Unnati Online Pvt. Ltd [Link]
VCARE Technologies Pvt. Ltd. [Link]
Ideaclicks Infolabs Private Ltd. [Link]
Kinobeo Software Pvt. Ltd. [Link]
Green Leaves Consumer Services Pvt. Ltd. [Link]
Mint Bird Technologies Pvt. Ltd. [Link]
Rare Media Company Pvt. Ltd. [Link]
Wishbook Infoservices Pvt. Ltd. [Link]
NoPaperForms Solutions Private Limited [Link]
38,530.19 (27,118.30)
International Educational Gateway Private Limited [Link] 35,630.93
Agstack Technologies Private Limited [Link]
Bizcrum Infotech Private Limited [Link]
Medcords Healthcare Solutions Private Limited [Link]
Printo Document Services Private Limited [Link]
Shop Kirana E Trading Private Limited [Link]
Greytip Software Private Limited [Link]
Metis Eduventures Private Limited [Link]
Terralytics Analysis Private Limited [Link]
Llama Logisol Private Limited [Link]
LQ Global Services Private Limited [Link]
Sunrise Mentors Private Limited [Link]
4B Network Private Limited [Link] NA NA
Total 38,775.94 35,630.93 (27,330.19)
* ceased to be our subsidiary from January 2, 2020.
The major companies in the investment portfolio include:
ZOMATO LTD. ( ZOMATO)
Zomato is a technology platform that connects customers, restaurant partners and delivery partners, serving
this platform to search or discover restaurants; read and write reviews; upload photos; order food; book table
out. Zomato provides restaurant partners with marketing tools to acquire customers. They also operate Hyper
ingredients to restaurant partners. They generate a majority of the revenue from food delivery and the relate
restaurant partners for using Zomato’s platform. Restaurant partners also use Zomato’s platform for their adv
Platform Offerings by Zomato are in two categories:
• B2C: (i) Food delivery and (ii) Dining-out
• B2B: Hyperpure
Zomato has in pipeline its proposed Initial Public Offering (IPO) for such number of equity shares of Re.1 eac
million. This comprised of Offer for Sale (OFS) of up to such number of equity shares by the Company aggreg
Edge had invested `1,521.98 million in aggregate.

PB FINTECH LTD. (POLICYBAZAAR) PB Fintech Limited, doing business as [Link], de

SHOPKIRANA E- TRADING PVT. LTD. (SHOPKIRANA)

Shopkirana is engaged in the business of developing a business to business e-commerce platform for ordering
products and services among various stakeholders in the
grocery/FMCG supply chain. Shopkirana helps retailers with simple and efficient distribution platform by ensur
quick delivery and single sourcing channel for retailers while brands have visibility and direct connect to retail
launch.
The Company has invested aggregate amount of `603.51 million for a stake of about 25.36% on fully convert
 tartups.
trategically support the offerings of the Company’s existing
xisting business.
es to the company’s core operating businesses.

OPERATING EBITDA

FY 2021

(7,635.23)

(7,635.23)
 delivery partners, serving their multiple needs. Customers use
tos; order food; book tables and make payments while dining-
s. They also operate Hyperpure, wherein they supply
ood delivery and the related commissions charged to
ato’s platform for their advertisements.

f equity shares of Re.1 each, aggregating to up to `93,750

es by the Company aggregating up to `3,750 million. Info

[Link], develops and publishes an online financial services platform. The Company offers a consumer centric platform by partnering with

merce platform for ordering, delivery, payments and related

tribution platform by ensuring the most competitive prices,

and direct connect to retailers for promotions or product

ut 25.36% on fully converted and diluted basis.

 AGSTACK TECHNOLOGIES PVT. LTD. ( GRAMOPHONE)Gramophone is a technology enabled market

TABLE 4 Consolidated Abridged Profit and Loss Statement (` million)

FY 2021 FY 2020

Revenue from Operations 11,201.22 13,119.30

Total Operating Expenses 8,467.14 9,393.07

Share of net loss of associate and Joint ventures (Equity Method) (2,118.73) (7,290.18)

Exceptional items 14,341.16 1,821.06

PBT 15,893.10 (1,257.62)

Tax 1,805.06 1,199.86

Profit/(loss) for the year 14,088.04 (2,457.48)

Share of Minority interest in the (profit)/loss of subsidiary companies (17.23) 81.25

Other Comprehensive income (including share of profit/(loss) of Joint ventures/ Associate-Net 50.06 (29.11)
of Tax)
Total Comprehensive Income/(loss) attributable to equity holders of the parent 14,120.87 (2,405.34)
mophone is a technology enabled marketplace (operated through [Link] and its app ‘Gramophone’) supporting efficient farm inputs managem

ement (` million)
 BOX 6
• Revenue from operations and EBITDA are primarily derived by company’s stand alone financial
• Share of net loss of Associates and Joint ventures reduced from `7,290.18 million (FY2020) to
in view of reduction in cash burns of key investments including Zomato and PolicyBazaar.
• Exceptional items for the year primarily included gain on account of reduction of effective stake
other investee companies, at the time of infusion of funds by other investors at higher valuation th
investments. The exceptional items during FY20 included primarily loss on account of diminution in
in start- ups, partly set off by gain on account of reduction of effective stake at the time of infusio
valuation.
• The year FY2021 saw profit after tax at `14,088.04 million as compared to loss after tax of `2,4
primarily in view of lesser share of net loss of Associate/ JVs and exceptional gain during the year,

BUSINESS RESPONSIBILITY
As a corporate entity, Info Edge has been committed to several aspects of business responsibility. Given the n
the core areas include data protection of all users, environment protection and Corporate Social Responsibility

DATA SECURITY
Being in the business of online platforms, Info Edge manages widespread data. The Company takes special m
security and privacy to the data shared by users on the platform. It has a very robust data security and privac
users’ data using data Leakage prevention software - Websense DLP. Additionally, the Company has deployed
disk encryption complex password policies, vulnerability patching and anti-viruses. Service attack protection h
defender from Akamai and Qradar and there is round the clock monitoring using Security Operations Centre.
the Company undertakes quarterly information technology audits by external agencies and annual penetration
The Company has the following data security certifications:
• Certified ISO27001 (For Naukri and Jeevansaathi), compliant to annual audits.
• PCIDSS (Payment Card Industry Data Security Standard) (For Naukri and Jeevansathi) compliant.

CORPORATE SOCIAL RESPONSIBILITY

Through its CSR initiatives, Info Edge strives to provide equitable opportunities for sustainable growth. With t
Edge has focussed its CSR initiatives primarily in the field of education. Under the banner of ‘iServe’, the Com
programmes and formed strategic partnerships with non-governmental organisations with the overarching aim
human collaboration with social connections and see the world metamorphose into a better place to live”. Em
to teach academic subjects and computer basics, help
children pick up sports or volunteer to go onsite, and organise special occasions like Diwali, Children’s Day, an
of more than `800 million, the company has extended its support to multiple NGOs in funding their various in
The company also took special initiatives in wake of COVID-19 attack in the first and second wave by contribu
PPE kits to front line COVID-19 warriors like Delhi Police and nurses. The company also helped finance develo
ventilators being developed by IIT Kanpur.
ENVIRONMENT CONSCIOUSNESS
Info Edge always strives towards imbibing green sustainable products, processes and practices. Being in the i
limited direct impact on the environment, the Company’ makes all efforts to reduce the environmental impact
improving energy efficiency, use of renewable energy, procurement of greener products and waste recycling.
consumption, Info Edge has undertaken replacement of conventional lights to LED lights in the offices across
Automated Energy Monitoring and Control Product named as “Zenatix”, which enables monitor, configuration
of the organisation; use of star rated and energy efficient ACs and Diesel Gensets; adopted automatic server
consumption of energy; Initiatives to reduce usage of virgin paper and consumption and promotion of recycle
waste disposal.
The corporate office building of Info Edge India Limited has been rewarded Silver certification by Indian Gree
also equipped with a solar plant with a capacity to generate 50 KW of power. With Increased focus on conser
has deployed aerators across its different locations.
RISKS
Info Edge has a well-structured and robust risk management mechanism, which includes a comprehensive re
impact and the mitigation strategy. Broadly, there are some overriding risks that are listed below.
Pandemic Risks
• COVID-19: COVID-19 could have a significant effect on the results of operations, and could negatively imp
condition, cash flows and results of operations in FY2022. We believe that as a Company we have done all th
contagion. But with a once-in-a-lifetime global epidemic such as this, one can never be sure.
Operational Risks
• Data Security: Technical failure and breakdowns in servers could lead to interruptions of our websites and
and/or security breaches. The Company has established a secondary site in India as a precautionary measure
• Obsolescence: Being a technology-driven enterprise, it always faces the risk of an innovation or product de
more of Info Edge’s propositions redundant. The Company remains alert with technology developments to ov
the investments being made on mobile based applications, which is a breakthrough technology in this busines
Strategic Risks
• Competition Risk: All portals face competition directly on the online space as well as the offline. Info Edge
every one of its businesses and stays prepared for the challenges.
• Dependency Risk: The Company relies heavily on the recruitment business in India for its profits and
cash flows. Info Edge has been consciously diversifying into other businesses to de-risk itself from this depen
have started contributing to almost 27% of its total stand-alone revenues.
• Investment Risk: The Company has an exposure of investments worth `7,320 million in investee start-ups
entire investment might not generate returns, and absorb more cash in the incubation/ early phase. Already,
investments ever made have been written-off, exited or provisioned for. These are calculated risks, which is a
strategy. Also, the reported equity holdings in investee companies may not
translate into an equivalent economic interest on account of the terms of investment, including senior rights g
investors or ESOP dilution.
Financial Risks
• Tax Issues: The Company has had some income tax and service tax cases against it, which, if lost, may im
none of these is material.
• ERP: In order to promote efficiencies, the Company has promoted ERP across its activities. Any errors in b
system could affect the Company’s billing and statutory reporting.
• Privacy: Changes in privacy laws may impact the Company’s ability to share personnel data on their websi
the Company seeks prior consent from the users before sharing any such data, the effect of this development
Manpower and Regulatory Risks
• Attrition: Being a knowledge driven business, significant increase in attrition may affect the course of the b
on making workflows as process-driven as possible.
• Content Liability: Most of the portals rely on information being posted by users. Fraudulent postings/ profi
some users may damage the Company’s reputation and make it vulnerable to claims, e.g. defamation and inv
to contain the quantity and quality of uploads and downloads.
• IPR Protection: The Company has been protecting its trademarks against infringement/passing off by third
trademark sense. Even so, it is exposed to risks of third parties trying to use our marks. There are also risks a
Also, litigation is a time and resource intensive activity and may be on-going.
INTERNAL CONTROLS AND THEIR ADEQUACY
Info Edge has proper and adequate system of internal controls to ensure that all assets are safeguarded and
unauthorised use or disposition, and those transactions are authorised, recorded and reported correctly. Inter
extensive programme of internal audits, review by management and the Audit Committee, and documented p
The internal control system is designed to ensure that financial and other records are reliable for preparing fin
and for maintaining accountability of assets. In order to imbibe a compliance & ethical culture, the Company
a digitally enabled compliance management tool and Myinsider tool to strengthen control over insider regulati
OUTLOOK
As was pre-empted in the Annual Report FY2020, the global economic scenario was adversely affected by the
so was Info Edge’s business. The gradual revival in the second half of FY2021 was yet again affected by the s
FY2022. Clearly, a significant slowdown in economic activity will have an adverse effect on Info Edge’s core b
estate. However, if no more serious unforeseen external animalities happen, economic conditions ought to re
growth is expected to pick up by the second half of FY2022.
While the economic recovery hopefully starts to occur, it is important to note that the business domains
 will continue to remain more insulated from these adverse market conditions. In fact, opportunities here for o
Like in FY2021, Info Edge will invest on all elements related to product and service development and continue
measures to strengthen the Company’s competitive positioning. The mid-term strategy will remain focused on
term, all measures will be undertaken for cost strengthening and rationalisation so that revenue shocks do no
prospects of the Company.
Info Edge expects that in the post-COVID-19 environment there will be faster absorption of internet- based a
operates. Hence, it is preparing itself to best utilise the next wave of market opportunities as the COVID-19 c
second half of FY2022.
CAUTIONARY STATEMENT
Statements in this Management Discussion and Analysis describing the Company’s objectives, projections, est
‘forward looking statements’ within the meaning of applicable laws and regulations. Actual results might differ
those expressed or implied. Important developments that could affect the Company’s operations include a do
advertising spends, new disruptive technologies or business models, significant changes in political and econo
rate fluctuations, tax laws, litigation, labour relations and interest costs.

COVID-19
EMERGENCY RESPONSE
INFO EDGE
 Consolidated Performance Highlight
• Revenue from operations and EBITDA are primarily derived by company’s stand alone financials and represent similar trend.
• Share of net loss of Associates and Joint ventures reduced from `7,290.18 million (FY2020) to `2,118.73 million (FY2021) primarily
in view of reduction in cash burns of key investments including Zomato and PolicyBazaar.
• Exceptional items for the year primarily included gain on account of reduction of effective stake in Zomato Ltd., PolicyBazaar and
other investee companies, at the time of infusion of funds by other investors at higher valuation than the carrying value of such
investments. The exceptional items during FY20 included primarily loss on account of diminution in carrying value/ sale of investments
in start- ups, partly set off by gain on account of reduction of effective stake at the time of infusion by other investors at higher
valuation.
• The year FY2021 saw profit after tax at `14,088.04 million as compared to loss after tax of `2,457.48 million during FY2020,
primarily in view of lesser share of net loss of Associate/ JVs and exceptional gain during the year, as explained above.

USINESS RESPONSIBILITY
a corporate entity, Info Edge has been committed to several aspects of business responsibility. Given the nature and objectives of its business,
core areas include data protection of all users, environment protection and Corporate Social Responsibility that focuses on education.

TA SECURITY
ng in the business of online platforms, Info Edge manages widespread data. The Company takes special measures to continuously provide
urity and privacy to the data shared by users on the platform. It has a very robust data security and privacy policy that protects end point
rs’ data using data Leakage prevention software - Websense DLP. Additionally, the Company has deployed write restrictions by locking USB’s,
k encryption complex password policies, vulnerability patching and anti-viruses. Service attack protection has been provided by using Kona site
ender from Akamai and Qradar and there is round the clock monitoring using Security Operations Centre. In Addition,
Company undertakes quarterly information technology audits by external agencies and annual penetration testing.
Company has the following data security certifications:
Certified ISO27001 (For Naukri and Jeevansaathi), compliant to annual audits.
PCIDSS (Payment Card Industry Data Security Standard) (For Naukri and Jeevansathi) compliant.

RPORATE SOCIAL RESPONSIBILITY

ough its CSR initiatives, Info Edge strives to provide equitable opportunities for sustainable growth. With the concept of shared growth, Info
e has focussed its CSR initiatives primarily in the field of education. Under the banner of ‘iServe’, the Company has crafted innovative
grammes and formed strategic partnerships with non-governmental organisations with the overarching aim to “combine
man collaboration with social connections and see the world metamorphose into a better place to live”. Employees of the Company volunteer
each academic subjects and computer basics, help
dren pick up sports or volunteer to go onsite, and organise special occasions like Diwali, Children’s Day, and Christmas. With an annual outlay
more than `800 million, the company has extended its support to multiple NGOs in funding their various initiatives.
company also took special initiatives in wake of COVID-19 attack in the first and second wave by contributing around `8 million in providing
kits to front line COVID-19 warriors like Delhi Police and nurses. The company also helped finance development of indigenised and affordable
tilators being developed by IIT Kanpur.
VIRONMENT CONSCIOUSNESS
o Edge always strives towards imbibing green sustainable products, processes and practices. Being in the internet services sector where it has
ted direct impact on the environment, the Company’ makes all efforts to reduce the environmental impacts of its own operations, includes
roving energy efficiency, use of renewable energy, procurement of greener products and waste recycling. To ensure optimal resource
sumption, Info Edge has undertaken replacement of conventional lights to LED lights in the offices across all the locations; adopted the use of
omated Energy Monitoring and Control Product named as “Zenatix”, which enables monitor, configuration and control of the electrical devices
he organisation; use of star rated and energy efficient ACs and Diesel Gensets; adopted automatic server and desktop shutdown, to reduce
sumption of energy; Initiatives to reduce usage of virgin paper and consumption and promotion of recycled paper; and adopted responsible e-
ste disposal.
corporate office building of Info Edge India Limited has been rewarded Silver certification by Indian Green Building Council. The premises is
o equipped with a solar plant with a capacity to generate 50 KW of power. With Increased focus on conserving water resources the company
deployed aerators across its different locations.
SKS
o Edge has a well-structured and robust risk management mechanism, which includes a comprehensive register that lists identified risks, their
act and the mitigation strategy. Broadly, there are some overriding risks that are listed below.
ndemic Risks
COVID-19: COVID-19 could have a significant effect on the results of operations, and could negatively impact the business, revenues, financial
dition, cash flows and results of operations in FY2022. We believe that as a Company we have done all that is necessary to deal with this
tagion. But with a once-in-a-lifetime global epidemic such as this, one can never be sure.
erational Risks
Data Security: Technical failure and breakdowns in servers could lead to interruptions of our websites and result in corruption of all data
/or security breaches. The Company has established a secondary site in India as a precautionary measure for disaster recovery.
Obsolescence: Being a technology-driven enterprise, it always faces the risk of an innovation or product development that can make one or
re of Info Edge’s propositions redundant. The Company remains alert with technology developments to overcome this risk. A case in point is
investments being made on mobile based applications, which is a breakthrough technology in this business.
ategic Risks
Competition Risk: All portals face competition directly on the online space as well as the offline. Info Edge continuously tracks competition in
ry one of its businesses and stays prepared for the challenges.
Dependency Risk: The Company relies heavily on the recruitment business in India for its profits and
 h flows. Info Edge has been consciously diversifying into other businesses to de-risk itself from this dependency. Already, the other businesses
e started contributing to almost 27% of its total stand-alone revenues.
Investment Risk: The Company has an exposure of investments worth `7,320 million in investee start-ups. There is a probability that this
re investment might not generate returns, and absorb more cash in the incubation/ early phase. Already, `1,150 million or 13.6% of all such
estments ever made have been written-off, exited or provisioned for. These are calculated risks, which is a part of the Company’s growth
tegy. Also, the reported equity holdings in investee companies may not
nslate into an equivalent economic interest on account of the terms of investment, including senior rights given to an investor or a group of
estors or ESOP dilution.
ancial Risks
Tax Issues: The Company has had some income tax and service tax cases against it, which, if lost, may impact future cash flows. However,
e of these is material.
ERP: In order to promote efficiencies, the Company has promoted ERP across its activities. Any errors in billing or financial reports in the ERP
tem could affect the Company’s billing and statutory reporting.
Privacy: Changes in privacy laws may impact the Company’s ability to share personnel data on their websites. However, since in most cases
Company seeks prior consent from the users before sharing any such data, the effect of this development on Info Edge should be minimal.
npower and Regulatory Risks
Attrition: Being a knowledge driven business, significant increase in attrition may affect the course of the business. The Company is focusing
making workflows as process-driven as possible.
Content Liability: Most of the portals rely on information being posted by users. Fraudulent postings/ profiles on the website and spamming by
me users may damage the Company’s reputation and make it vulnerable to claims, e.g. defamation and invasion of privacy. Filters are in place
ontain the quantity and quality of uploads and downloads.
IPR Protection: The Company has been protecting its trademarks against infringement/passing off by third parties who use them in a
demark sense. Even so, it is exposed to risks of third parties trying to use our marks. There are also risks attached with the litigation process.
o, litigation is a time and resource intensive activity and may be on-going.
TERNAL CONTROLS AND THEIR ADEQUACY
o Edge has proper and adequate system of internal controls to ensure that all assets are safeguarded and protected against loss from
uthorised use or disposition, and those transactions are authorised, recorded and reported correctly. Internal controls are supplemented by an
ensive programme of internal audits, review by management and the Audit Committee, and documented policies, guidelines and procedures.
internal control system is designed to ensure that financial and other records are reliable for preparing financial information and other data,
for maintaining accountability of assets. In order to imbibe a compliance & ethical culture, the Company has adopted Compliance Dashboard,
gitally enabled compliance management tool and Myinsider tool to strengthen control over insider regulations.
UTLOOK
was pre-empted in the Annual Report FY2020, the global economic scenario was adversely affected by the COVID-19 pandemic in FY2021 and
was Info Edge’s business. The gradual revival in the second half of FY2021 was yet again affected by the second wave of COVID-19 in Q1,
022. Clearly, a significant slowdown in economic activity will have an adverse effect on Info Edge’s core businesses: recruitments and real
ate. However, if no more serious unforeseen external animalities happen, economic conditions ought to return to pre-COVID-19 levels and
wth is expected to pick up by the second half of FY2022.
le the economic recovery hopefully starts to occur, it is important to note that the business domains
 continue to remain more insulated from these adverse market conditions. In fact, opportunities here for online transition are very attractive.
e in FY2021, Info Edge will invest on all elements related to product and service development and continue to introduce several innovative
asures to strengthen the Company’s competitive positioning. The mid-term strategy will remain focused on profitable growth. In the short
m, all measures will be undertaken for cost strengthening and rationalisation so that revenue shocks do not adversely affect the long term
spects of the Company.
o Edge expects that in the post-COVID-19 environment there will be faster absorption of internet- based activities in the domains where it
rates. Hence, it is preparing itself to best utilise the next wave of market opportunities as the COVID-19 crisis subsides — hopefully from the
ond half of FY2022.
AUTIONARY STATEMENT
tements in this Management Discussion and Analysis describing the Company’s objectives, projections, estimates and expectations may be
ward looking statements’ within the meaning of applicable laws and regulations. Actual results might differ substantially or materially from
se expressed or implied. Important developments that could affect the Company’s operations include a downtrend in the Indian online sector,
ertising spends, new disruptive technologies or business models, significant changes in political and economic environment in India, exchange
e fluctuations, tax laws, litigation, labour relations and interest costs.

D-19
GENCY RESPONSE
INFO EDGE (INDIA) LIMITED ANNUAL REPORT 2020-21 53
WAVE 1
INFO EDGE PRIORITIZED SAFETY AND WELL BEING OF THE
EMPLOYEES AND
ENSURED MINIMAL DISRUPTION IN THE SERVIVES.
The Company took several pre-emptive measures for smooth transition to ‘work from home’ environment
preventing spread of COVID-19 amongst the employees and their families. Executing this change-over
was a challenging task & was undertaken effectively over a short span of time.
LOGISTICS PLANNING
Setting up offices at home for employees by providing all IT Infra support and other equipment/ documents.
ENABLING TECHNOLOGY
Enabling technology platforms for collaboration, communication, and team meetings to support new work regime.
SENSITIZING EMPLOYEES
Sensitizing employees about data privacy and cyber threats to provide effective data security.
TESTIMONIALS
“Thank you Info Edge, for not only standing by me during the
unprecedented crisis for all the emergency support in handling the critical medical condition of my husband but also for the tim
and good intentions demonstrated by you is a beacon of positivity and purpose in a time where many are uncertain. I would like
again and send my and
my family’s utmost love and gratitude to you all. I appreciate everything you have done more than you will ever know.”
-Jaya Bhatia Secretarial, Legal & Investor Relations
 “Very helpful, I can’t thank you enough for all your support over last few weeks. This COVID-19 would also leave all of
us with very emotional stories.”
-Rajesh Kumar Aggarwal Finance

54 INFO EDGE (INDIA) LIMITED ANNUAL REPORT 2020-21

f my husband but also for the times you checked in on me. The care
e many are uncertain. I would like to take this space to thank you all

than you will ever know.”

9 would also leave all of
WAVE 2

GIVEN THE SUDDEN AND HIGH

MAGNITUDE OF DISEASE SPREAD IN

WAVE 2 , AN ACTION PLAN ON WAR
FOOTING WAS IMPER AT IVE AND
IMMEDI ATE MEASURES HAD TO BE TAKEN
TO SUPPORT EMPLOYEES AND THEIR
FAMILIES. THE COMPANY UNDERTOOK
THE FOLLOWING MEASURES.

SETUP OF 24 X 7 COVID-19 HELPLINE

The motto of this initiative was ‘Easy Reach & Quick Response’. People provided their name and location
over WhatsApp and a dedicated resource would be assigned to them, who would do end to end hand
holding through the healing process – catering to what was needed, serving the need, staying in touch
throughout and extending emotional support. During the peak phase of a month, around 700 people
reached out on the Helpline where over 950 people were impacted (around 170 Employees and 780 Family
/ Extended Family Members).

Importantly, the support was extended in Tier 2 / Tier 3 cities and other smaller locations like Bagpat,
Bhiwani, Hardoi, Karnal, Mathura, Meerut, Rishikesh, Shahjahanpur and Yamunanagar.
COVID RELIEF MEASURES USING CSR FUNDS
• 500 PPE kits to Delhi Police personnel posted at quarantine facilities
• 2700 PPE kits for frontline health workers in Delhi Government hospitals
• Supported R&D of affordable indigenous ventilators at IIT- Kanpur which have helped 3700+ patient
lives during Covid
• Provided for 15 invasive ventilators (Philips) at GTB Hospital at the peak of second wave
• Provided ICU monitors at GTB Hospital

INFO EDGE
VACCINATION
Info Edge proactively, instituted a plan to trace all employees to effectively implement the vaccination drive
for its employees, their family members and clients. Large number of employees and family members have
been vaccinated across Noida, Gurugram, Mumbai, Bangalore, Pune, Hyderabad and Chennai. As we speak,
this is an ongoing process.
1 2 3
HEALTHCARE NOMINATIONS SLOTTING PARTNER
Selection of Good Detailed yet Meticulous Slotting Healthcare Partner in
simplified process to cut overcrowding constrained availability on Nominations and reduce
waiting environment and Registrations
4 5
COMMUNICATION EXECUTION
Necessary FAQs Vaccination day gets
& Guidelines monitored to ensure
for Employees / the seamless user
Clients. Information experience sharing on slots, on
Healthcare Partners & on arrangements made
PREPARING FOR THE FUTURE
 The COVID-19 epidemic is still not eradicated and we are actively taking steps to deal with any future wave
of this disease. This includes:
• Trend & Data Analysis of Waves of Pandemic – likely scenario for India v/s Other Countries, to
sense early and use same as a tool to plan future course of action.
• Tracking and studying Test Positivity Rate for India and Metros – Delhi, Mumbai, Bangalore,
Kolkata, Chennai, Hyderabad & Pune.
• Identify and capture early warning signals based on the data analysis
• Taking cues from the experience gained from wave 2, reviewing and planning for all remedial
actions

TESTIMONIALS
“Thank you & to the entire Infoedge support function for the support in
coordination for Hospitals, medicines & essential for we all associates. You guys are really doing a great & noble job with selfless
Kudos and thanks a lot again to you Sushma.”
- Pankaj Shah 99acres Verification Support

“A big Thanks to the Team for taking this initiative.

It has helped people big time who otherwise were either hesitant to register in the first place or were struggling for slots. More t
drive was conducted taking into consideration the minutest of details was exemplary. A big shout out to the team. Looking forwa
Infoedge. “
- Manasi Ohri E Hire

56 INFO EDGE (INDIA) LIMITED ANNUAL REPORT 2020-21

TE
“Wow !Proud of this team. W
HR FORM and being part of
sharing about this awesome
work being done in (team m
positivity in team # More Po
-Kiran Chhabra Technolo

“Honestly, this has been one

remember, from
the time to step in the facilit
details & getting vaccinated
During these pandemic time
the social distancing norms.
The experience of getting va
time consuming. “
-Rizwan Ahmed on behal

INFO EDGE
 TOP NEEDS SERVICED

OXYGEN SUPPORT

HOSPITAL CONNECT

INFORMATION GUIDANCE

LABORATORY TESTING
MEDICINE

DOCTOR CONSULTATION & MENTAL WELLBEING

PROGRAMS
HOME CARE SETUP & AMBULANCE
MEDICAL INSURANCE

COVID LEAVES

INFO EDGE (INDIA) LIMITED ANNUAL REPORT 2020-21 55

ng a great & noble job with selflessness & my best wishes for you all

or were struggling for slots. More than that the way this vaccination
out out to the team. Looking forward for my second jab also through

TESTIMONIALS
“Wow !Proud of this team. While encouraging team mates to fill
HR FORM and being part of WhatsApp groups, have been
sharing about this awesome
work being done in (team meetings). It’s creating lots of
positivity in team # More Power to You.”
-Kiran Chhabra Technology, Naukri

“Honestly, this has been one of the best experiences to

remember, from
the time to step in the facility, getting a token id, validating your
details & getting vaccinated was all thought through process.
During these pandemic time team made sure each one followed
the social distancing norms.
The experience of getting vaccinated was seamless & not at all
time consuming. “
-Rizwan Ahmed on behalf of Operations Team

INFO EDGE (INDIA) LIMITED ANNUAL REPORT 2020-21 57

 3
59 REPORT ON CORPORATE GOVERNANCE
92 CORPORATE GOVERNANCE CERTIFICATE
93 DIRECTORS’ REPORT
114 ANNEXURES TO DIRECTORS’ REPORT

58 INFO EDGE (INDIA) LIMITED ANNUAL REPORT 2020-21

REPORT ON CORPORATE GOVER
INFO EDGE TRUSTS TH AT THE BOARD OF DIRECTORS OF A COMPANY IS THE
TRUSTEE OF ALL INVESTORS’ CAPITAL AND IS OBLIG ATE D TO MAXIMIZE SHAREHOLDERS’ VALU
WHILE PRESERVING THE INTERESTS OF ALL ITS STAKEHOLDERS, SUCH AS CUSTOMERS, BUSINE
PARTNERS/ VENDORS, EMPLOYEES AND THE SOCIETY AT LARGE. YOUR COMPANY IS COMMITTE
ETHICS AND INTEGRITY IN ALL ITS BUSINESS DEALINGS, DEVOID OF ALL CONFLICTS OF INTERE
BUSINESS WITH THESE PRINCIPLES, INFO EDGE MAINTAINS A HIGH DEGREE
OF TRANSPARENCY THROUGH APPROPRI ATE DISCLOSURES AND A FOCUS ON ADEQUATE CONT
Good Corporate Governance practices lie at the foundation of Info Edge’s business ethos. The Company does not view C
set of binding obligations but believes in using it as a framework to be followed in spirit. This is reflected in Company’s P
The following report on Corporate Governance is a sincere manifestation of the efforts made by your Company to adopt
Corporate Governance in true letter and spirit. This report, along with Management Discussion & Analysis Report and add
provides the details
of implementation of the Corporate Governance practices by your Company as contained in SEBI (Listing Obligations and
Regulations, 2015, as amended (“Listing Regulations”).

CORPORATE GOVERNANCE PHILOSOPHY

Info Edge’s philosophy on Corporate Governance envisages accomplishment of a high level of transparency, integrity, ho
conduct of its businesses and puts due prominence towards regulatory compliances. At Info Edge, Corporate Governance
efficient working of Board of Directors, Management Reviews, Strong Control Procedures and a guiding culture for emplo
The Company’s governance structure is designed to provide a framework for the successful implementation of this busin
Your Company always strives to adopt best practices in Corporate Governance and remains abreast with the continuous
Corporate Governance systems. The entire framework is governed by a strong Board of Directors and executed by a com
employees.

BOARD OF DIRECTORS
A quality Board, being at the core of its Corporate Governance Practice, plays the most pivotal role in overseeing how the
the long-term interests of all stakeholders. Info Edge firmly believes that an active, well-informed and independent Board
standards of Corporate Governance to bring objectivity and transparency in the management.
SELECTION OF THE BOARD: In terms of the requirement of the provisions of the Companies Act, 2013, and provision
Nomination and Remuneration Committee has been designated to evaluate the need for change in the composition and s
and to select members to fill Board vacancies based on defined criteria and nominating candidates for election by the Sh
ATE GOVERNANCE
OMPANY IS THE
O MAXIMIZE SHAREHOLDERS’ VALUE OVER THE LONG TERM,
RS, SUCH AS CUSTOMERS, BUSINESS
GE. YOUR COMPANY IS COMMITTED TO HIGH LEVELS OF
OID OF ALL CONFLICTS OF INTEREST. IN ORDER TO CONDUCT
HIGH DEGREE
ND A FOCUS ON ADEQUATE CONTROL SYSTEM.
ness ethos. The Company does not view Corporate Governance principles as a
d in spirit. This is reflected in Company’s Philosophy on Corporate Governance.
e efforts made by your Company to adopt and follow the principles of
ment Discussion & Analysis Report and additional Shareholders’ information

contained in SEBI (Listing Obligations and Disclosure Requirements)

a high level of transparency, integrity, honesty and accountability in the

nces. At Info Edge, Corporate Governance is considered as a benchmark for
rocedures and a guiding culture for employees.
he successful implementation of this business ethos.
and remains abreast with the continuous developments in the industry’s
Board of Directors and executed by a committed team of management and

he most pivotal role in overseeing how the management serves and protects
tive, well-informed and independent Board is necessary to ensure the highest
e management.
of the Companies Act, 2013, and provisions of the Listing Regulations, the
e need for change in the composition and size of the Board of the Company
minating candidates for election by the Shareholders.
 COMPOSITION OF THE BOARD: Info Edge’s Board consists of an optimal combination of Executive Directors and Non-e
Independent Directors and Women Directors with varied professional
backgrounds, representing a judicious mix of professionalism, knowledge and experience. As on March 31, 2021, the Comp
Directors, of which three are Executive Directors, six are Independent Directors (including two women Directors) constituti
one is a Non-executive
–Non Independent Director. The Chairman of the Board is a Non- executive, Non-promoter Director. Also, in the opinion of
Directors fulfill the conditions specified in the Listing Regulations and are independent from the Management.
Even though, Regulation 17 of the Listing Regulations states that if the Chairperson of the Board is a Non- executive, Non-
the Board is required to be independent, Info Edge has, believing in the significance of an Independent Board, ensured tha
Independent Directors.
In addition, there is a segregation between the position of the CEO and the Chairman.
TABLE 1
COMPOSITION OF BOARD OF DIRECTORS AS ON MARCH 31, 2021

Name of Director Position & Category

Mr. Kapil Kapoor Non-Executive-Non Independent Director, Chairman

Mr. Sanjeev Bikhchandani Promoter, Executive Director, Vice-Chairman

Mr. Hitesh Oberoi Promoter, Managing Director & Chief Executive Officer

Mr. Chintan Thakkar Whole-time Director & Chief Financial Officer

Mr. Saurabh Srivastava Non-Executive, Independent Director

Mr. Naresh Gupta Non-Executive, Independent Director

Ms. Bala C Deshpande Non-Executive, Independent Director

Mr. Sharad Malik Non-Executive, Independent Director

Mr. Ashish Gupta Non-Executive, Independent Director

Ms. Geeta Mathur Non-Executive, Independent Director

EXTERNAL COMMITMENTS OF WHOLE-TIME DIRECTORS: The Company regulates the external commitments of Wh
acceptance of board or advisory positions in external organizations and any strategic external investment made by them in
would require their time involvement or result in conflict of interest.
The Whole-time Directors require prior approval of the Board before accepting any external board/advisory position as wel
beyond a specified limit. It is aimed to define the maximum time the Whole-time Directors can devote to external engagem
investments etc. The Whole-time Directors are also regulated to accept board/advisory positions in any external organizatio
organizations) where they have made personal investments.
BOARD & COMMITTEE MEETINGS
1. INFORMATION SUPPLIED TO THE BOARD: The Board has complete access to all the information of the Company.
Regulation 17(7) read with Schedule II to Listing Regulations is regularly provided to the Board/ Committee Members as pa
Notes on Agenda, presentations and other necessary documents seven days in advance of the Board/ Committee Meetings
were convened at a shorter notice for which necessary approvals obtained as per applicable provisions). Agenda items whi
price sensitive information are dealt as per the provisions of the Companies Act, 2013 and Secretarial Standard-1 on Board
structured manner in which agenda items are created and materials are distributed for Board Meetings. The functional hea
provide additional insights into the agenda item being discussed, are also invited to the Board/ Committee Meetings on nee

2. SELECTION OF AGENDA ITEMS FOR BOARD/COMMITTEE MEETINGS: The Company Secretary is responsible f
of all papers submitted to the Board and Committees and prepares the Agenda of the Board/Committee Meetings on the
of Directors. Each Board/ Committee Member is free to suggest the inclusion of item(s) to the agenda. The Board believe
responsibilities should have priority on the agenda, taking into account the overall focus of preserving and increasing sta
review of the Company Strategy and Annual Plan, Performance and Business Plans, Budget (annual operating and capita
Investments and exposure limits, Ethical Business Practices and Legal Compliances, Accounting and Internal Financial Co
Preservation of Assets, Functioning of Subsidiary companies, working of Board Committees and Board effectiveness.
3. BOARD MATERIALS DISTRIBUTED IN ADVANCE: Information and data that is important to the Board’s understa
distributed in writing or electronically to the Board/ Committee Members prior to the Board/Committee meetings in order
Board acknowledges that sensitive subject matters may be discussed at the Board Meeting without written materials bein
Members of the Board/Committee always have complete liberty to express their opinion, and decisions are taken on the
detailed discussions. They are also free to bring up any matter for discussion at the Board/Committee Meetings.
Strategic and Operating Plans are presented to the Board in addition to the quarterly and annual financial statements. Th
internal controls and compliance with laws applicable to the Company, as well as steps taken by the Company to rectify i
any. Specific cases of acquisitions, important managerial decisions and statutory matters are presented to the relevant co
on recommendation of the Committee(s) to the Board for its approval. In
addition to the above, the minutes of the Board Meetings of Company’s unlisted subsidiary company(ies) are also placed
and noting in compliance with the Listing Regulations.
4. SCHEDULING OF BOARD MEETINGS: An Annual Calendar of Board Meetings/Committee Meetings is agreed upon
Board meets at least once every calendar quarter to discuss and
review the quarterly financial results and other items of agenda including the information required to be placed before th
Regulation 17 read with Schedule II to Listing Regulations. A minimum of four Board Meetings are held every year and g
meetings is always kept less than 120 days. Additional Board Meetings are convened, whenever required, by giving appr
exigencies or urgent matters, a proposal is circulated to all Board Members requesting them to pass Resolutions by Circu
The Board has an effective post meeting follow-up procedure. Items arising out of previous Board Meeting and their follo
at the immediately succeeding meeting for updation of the Board.
5. RECORDING OF MINUTES OF PROCEEDINGS AT BOARD/COMMITTEE MEETINGS: The Company Secretary r
proceedings of each Board/Committee Meeting. Draft Minutes are circulated to all Board/Committee Members for their co
the conclusion of the Meeting.
The Board/Committee members are requested to communicate their comments/observations, if any, within 7 (seven) da
thereof. The finalized Minutes of proceedings of a Meeting are entered in the Minutes Book within 30 (thirty) days from t
incorporating the comments/ observations, if any, suggested by the Directors/ Committee Members.
6. MEETING OF INDEPENDENT DIRECTORS: Pursuant to Schedule IV to the Companies Act, 2013 and Regulation 2
Independent Directors met once on June 22, 2020 without the attendance of non-independent directors and members of
The Independent Directors have carried out performance evaluation of Non-Independent Directors, the Chairperson of th
whole for FY 2020-21. They also assessed the quality, content and timeliness of flow of information between the Manage
necessary for the Board to effectively and reasonably perform its duties.
The Board’s policy is to regularly have separate meetings with Independent Directors/ Non-Executive Directors, to updat
and new initiatives. At such meetings, the Executive Directors and other members of Management make presentations o
 mal combination of Executive Directors and Non-executive Directors including

e and experience. As on March 31, 2021, the Company’s Board comprised of 10 (ten)
rectors (including two women Directors) constituting 60% of the Board’s strength and

ive, Non-promoter Director. Also, in the opinion of the Board, the Independent
independent from the Management.
Chairperson of the Board is a Non- executive, Non-promoter Director, only one-third of
significance of an Independent Board, ensured that 60% of its Board members are

the Chairman.

Age

56

57

49

54

75

54

55

57

54

54

mpany regulates the external commitments of Whole-time Directors with respect to

any strategic external investment made by them in their personal capacity, which

epting any external board/advisory position as well as to make strategic investment

ole-time Directors can devote to external engagements, maximum limit for strategic
board/advisory positions in any external organization (other than not for profit
 ete access to all the information of the Company. Information stipulated under
provided to the Board/ Committee Members as part of Agenda papers along with
days in advance of the Board/ Committee Meetings (except in cases where meetings
ed as per applicable provisions). Agenda items which are in nature of unpublished
ies Act, 2013 and Secretarial Standard-1 on Board/Committee Meetings. There is a
distributed for Board Meetings. The functional heads/ business heads, who can
o invited to the Board/ Committee Meetings on need basis.

EETINGS: The Company Secretary is responsible for collation, review and distribution
Agenda of the Board/Committee Meetings on the basis of suggestions from the Board
lusion of item(s) to the agenda. The Board believes that certain continuing oversight
the overall focus of preserving and increasing stakeholders’ value. This includes
siness Plans, Budget (annual operating and capital expenditure), Strategic
Compliances, Accounting and Internal Financial Controls, Financial Structure,
of Board Committees and Board effectiveness.
and data that is important to the Board’s understanding of matters on the Agenda is
rs prior to the Board/Committee meetings in order to permit adequate review. The
t the Board Meeting without written materials being distributed in advance. The
ress their opinion, and decisions are taken on the basis of consensus arrived at after
ussion at the Board/Committee Meetings.
o the quarterly and annual financial statements. The Board also periodically reviews
as well as steps taken by the Company to rectify instances of non-compliances; if
statutory matters are presented to the relevant committee(s) of the Board and later
In
s unlisted subsidiary company(ies) are also placed before the Board for information

ard Meetings/Committee Meetings is agreed upon at the beginning of the year. The

ng the information required to be placed before the Board as required under

of four Board Meetings are held every year and gap between two consecutive
are convened, whenever required, by giving appropriate Notice. For any business
bers requesting them to pass Resolutions by Circulation.
rising out of previous Board Meeting and their follow up action taken report is placed

MMITTEE MEETINGS: The Company Secretary records the Minutes of the

ulated to all Board/Committee Members for their comments within 15 (fifteen) days of

omments/observations, if any, within 7 (seven) days from the date of circulation

in the Minutes Book within 30 (thirty) days from the date of the meeting after
rectors/ Committee Members.
e IV to the Companies Act, 2013 and Regulation 25 of the Listing Regulations,
nce of non-independent directors and members of Management.
Non-Independent Directors, the Chairperson of the Company and the Board as a
eliness of flow of information between the Management and the Board that is
s.
dent Directors/ Non-Executive Directors, to update them on all business-related issues
er members of Management make presentations on relevant issues.
 7. NUMBER OF BOARD MEETINGS HELD AND ATTENDANCE DURING THE FINANCIAL YEAR 2020-21:
The Board of Directors met 5 (five) times during the year on June 22, 2020, July 30, 2020, September 7, 2020, Novembe
The maximum gap between any two consecutive meetings was less than 120 days except for the meeting held on June 2
Ministry of Corporate Affairs (“MCA”) vide its General Circular No. 11 /2020 dated March 24, 2020 and by SEBI vide its ci
HO/CFD/CMD1/CIR/P/2020/38 dated March 19, 2020 (hereinafter collectively referred as “Circulars”), due
to COVID-19 outbreak. The details of Directors’ attendance for Board Meetings and Annual General Meeting held during
Chairpersonship/ Membership of Board Committees of other companies are given in Table No. 2 below:
TABLE 2
ATTENDANCE DETAILS AT BOARD MEETINGS & MEMBERSHIP/CHAIRPERSONSHIP OF OTHER BOARD COMMITTEES AS

No. of other Directorships and Committee

Attendance Particulars Memberships/ Chairpersonships held*

No. of Board Last AGM

Name of Director DIN Position & Category
Meetings held on
September Other Committee
Held Attended 22, 2020 Directorships Memberships

Non- Executive, Non-

Independent Director &
Mr. Kapil Kapoor 00178966 5 5 Yes 2 1
Chairman

Mr. Sanjeev Promoter & Executive

Bikhchandani 00065640 Vice- Chairman 5 5 Yes 5 -

Promoter, Managing
Director & Chief
Mr. Hitesh Oberoi 01189953 5 5 Yes 2 -
Executive
Officer
Mr. Chintan Thakkar Whole-time Director &
00678173 Chief Financial Officer 5 5 Yes 5 -

Mr. Saurabh Non-Executive,

Srivastava 00380453 Independent Director 5 4 Yes 3 3

Ms. Bala C Non-Executive,

Deshpande 00020130 Independent Director 5 4 Yes 3 4

Non-Executive,
Mr. Naresh Gupta 00172311 Independent Director 5 5 Yes - -

Non-Executive,
Mr. Sharad Malik 07045964 Independent Director 5 5 Yes - -

Non-Executive,
Mr. Ashish Gupta 00521511 Independent Director 5 5 No 1 1

Non-Executive,
Ms. Geeta Mathur 02139552 Independent Director 5 5 Yes 9 9

* 1. Excluding private limited companies, foreign companies and companies under Section 8 of the Companies Act, 2013.
2. Chairpersonship/Committee Membership of Audit Committee & Stakeholders’ Relationship Committee of other public limited Companies only has been consi

As mandated by Regulation 26 of the Listing Regulations, none of the Directors of the Company are members of more th
public companies nor are they Chairperson of more than five Board level committees in listed companies in which they a
Relationship between directors inter-se: There is no inter-se relation between Directors of the Company.
NANCIAL YEAR 2020-21:
2020, September 7, 2020, November 10, 2020 and February 12, 2021.
cept for the meeting held on June 22, 2020, which was relaxed by the
ch 24, 2020 and by SEBI vide its circular SEBI/
as “Circulars”), due
nnual General Meeting held during the financial year 2020-21 and their
able No. 2 below:

F OTHER BOARD COMMITTEES AS ON MARCH 31, 2021

rectorships and Committee

Chairpersonships held*

Committee
Chairpersonships

Act, 2013.
public limited Companies only has been considered.

Company are members of more than ten board level committees in

n listed companies in which they are Directors.
irectors of the Company.
 TABLE 3
NAME OF OTHER LISTED COMPANIES WHEREIN THE DIRECTORS OF THE COMPANY ARE DIRECTORS
Name of the Director Name of other Listed Companies where he/she is a Director

Mr. Kapil Kapoor Niyogin Fintech Ltd.

Mr. Sanjeev Bikhchandani -

Mr. Hitesh Oberoi -

Mr. Chintan Thakkar -

Mr. Saurabh Srivastava Dr. Lal PathLabs Ltd.

Newgen Software Technologies Ltd.
Ms. Bala C Deshpande Future Enterprises Ltd.
Future Supply Chain Solutions Ltd.
Mr. Naresh Gupta -

Mr. Sharad Malik -

Mr. Ashish Gupta Hindustan Unilever Ltd.

JTEKT India Ltd. (Resigned on June 9, 2021) Motherson Sumi Systems

Ltd.
IIFL Finance Ltd.
Ms. Geeta Mathur
IIFL Wealth Management Ltd. NIIT Ltd.
Onmobile Global Ltd.
COMMITTEES OF THE BOARD
During the year, the Board had seven Committees – Audit Committee, Stakeholders’ Relationship Committee, Nomination
Corporate Social Responsibility Committee, Risk Management Committee, Business Responsibility Reporting Committee a
Directors. Each Committee has its defined terms of reference/charter and have been assigned with scope of responsibilit
reviewed by the Board from time to time in order to determine the appropriateness of the purpose for which the Commit
abreast with the changing business environment and the statutes. Committee composition conforms to applicable laws a
Committee meetings are placed before the Board for information/noting in the subsequent Board Meeting.
All decisions pertaining to the constitution of Committees and its terms of reference/charter including terms of service fo
the Board of Directors. Details on the role and composition of
these Committees, including the number of meetings held during the financial year and the related attendance, are provi
A. AUDIT COMMITTEE
The primary objective of the Audit Committee is to act as a catalyst in helping the Company to achieve its objectives by o
Company’s Financial Statements; Adequacy & Reliability of the Internal Control Systems of the Company; Compliance wi
and the
Company’s Code of Conduct; Review of Performance of the Company’s Statutory, Secretarial & Internal Auditors.
Audit Committee monitors & provides an effective supervision of the financial reporting process of the Company with a v
disclosures with the highest level of transparency, integrity and quality.
COMPOSITION, MEETINGS & ATTENDANCE DURING THE YEAR
There has been no change in the composition of the Committee during the year and as on March 31, 2021, the Audit Com
Independent Directors as its members. During the year under review, 6 (six) Audit Committee meetings were held on Ju
November 5, 2020, November 10,
THE COMPANY ARE DIRECTORS
Category of Directorship

Independent Director

Independent Director
Independent Director
Independent Director
Independent Director
-

Independent Director

Independent Director
Independent Director
Independent Director
Independent Director
Independent Director
Independent Director
 Stakeholders’ Relationship Committee, Nomination & Remuneration Committee,
ee, Business Responsibility Reporting Committee and Committee of Executive
nd have been assigned with scope of responsibilities, duties, and authorities, which is
propriateness of the purpose for which the Committee was formed and further to keep
mmittee composition conforms to applicable laws and regulations. Minutes of all the
g in the subsequent Board Meeting.
of reference/charter including terms of service for Committee members are taken by

nancial year and the related attendance, are provided below:

helping the Company to achieve its objectives by overseeing the Integrity of the
l Control Systems of the Company; Compliance with Legal & Regulatory Requirements

Statutory, Secretarial & Internal Auditors.

nancial reporting process of the Company with a view to ensure accurate and timely
.
R
the year and as on March 31, 2021, the Audit Committee comprised of 4
6 (six) Audit Committee meetings were held on June 22, 2020, September 7, 2020,
 2020, December 29, 2020 and February 12, 2021. The time gap between any two consecutive meetings was less than 12
on June 22, 2020, which was relaxed by the MCA and SEBI through the Circulars, due to COVID-19 outbreak. The details
attendance at the Audit Committee meetings are given in Table No. 4 as under:
TABLE 4
COMPOSITION, MEETINGS & ATTENDANCE DETAILS OF AUDIT COMMITTEE FOR FY 2020-21

Name of the Member Category Position in the Committee No. of Meetings

Held

Ms. Geeta Mathur Non-Executive, Independent Director Chairperson 6

Mr. Saurabh Srivastava Non-Executive, Independent Director Member 6

Mr. Naresh Gupta Non-Executive, Independent Director Member 6

Mr. Sharad Malik Non-Executive, Independent Director Member 6

In addition to the members of the Audit Committee, these meetings were attended by Vice-Chairman, Managing Director
time Director & Chief Financial Officer, Statutory Auditor, Internal Auditor and/or their representatives, wherever necessa
Company who were considered necessary for providing inputs to the Committee.
Mr. MM Jain, Company Secretary acts as the Secretary to the Committee.
Ms. Geeta Mathur, Chairperson of the Committee has wide experience in finance with over 25 years of experience in ban
investor relations and development sector. She also has specialization in the area of project, corporate and structured fin
and strategic planning. All other members of the Committee also have accounting and financial management knowledge.
Ms. Geeta Mathur, the Chairperson of the Audit Committee attended the Annual General Meeting (AGM) held on Septemb
BRIEF DESCRIPTION OF TERMS OF REFERENCE
The functions and scope of the Audit Committee includes review of Company’s financial reporting, internal controls, relat
proceeds from public issue, rights issue, preferential issue and qualified institutional placement (QIP), insider trading, dis
management discussion and analysis report, risk mitigation mechanism, appointment of statutory auditor, secretarial aud
other aspects as specified in Section 177 of the Companies Act, 2013 and Regulation 18 read with Part C of Schedule II o
The Audit Committee has authority to undertake the specific duties and responsibilities set out in its Charter. The highlig
Audit Committee are enumerated below:
1. Oversight of the Company’s financial reporting process and the disclosure of its financial information to ensure that
sufficient and credible.
2. Discuss and review, with the management and auditors, the annual/quarterly financial statements before submission
particular reference to matters required to be included in the Directors’ Responsibility Statement, Disclosure under Manag
Financial Condition and results of operations, major accounting entries, significant adjustments made in the financial stat
compliance with listing and other legal requirements, disclosure of related party transactions, audit report, inter corporat
appointment of CFO etc.
3. To recommend appointment/re-appointment, removal, audit fee of Statutory/Secretarial/Internal Auditors.
4. Review management letters/letters of internal control weaknesses issued by statutory/internal auditors and evaluatio
5. Review the functioning of the Whistle Blower Mechanism.
6. To oversee compliance with regulatory requirements and policies.
7. To review and approve all related party transactions or any subsequent modification thereof.
nsecutive meetings was less than 120 days except for the meeting held
e to COVID-19 outbreak. The details of the composition, meetings &

Y 2020-21

No. of Meetings

Attended

y Vice-Chairman, Managing Director & Chief Executive Officer, Whole-

r representatives, wherever necessary and those executives of the

h over 25 years of experience in banking, large corporate treasuries,

project, corporate and structured finance, treasury, investor relations
d financial management knowledge.
eral Meeting (AGM) held on September 22, 2020.

cial reporting, internal controls, related party transactions, utilization of

placement (QIP), insider trading, disclosures in financial statements,
of statutory auditor, secretarial auditor and internal auditor and all
18 read with Part C of Schedule II of the Listing Regulations.
es set out in its Charter. The highlights of the terms of reference of the

financial information to ensure that the financial statements are correct,

nancial statements before submission to the Board for approval, with

Statement, Disclosure under Management Discussion and Analysis of
justments made in the financial statements arising out of audit findings,
sactions, audit report, inter corporate loans and investments,

cretarial/Internal Auditors.
utory/internal auditors and evaluation of internal financial controls.

tion thereof.
 8. Review the financial statements, in particular, the investments made by the unlisted subsidiary companies.
9. Setting forth the policies relating to and overseeing the implementation of the Securities & Exchange Board of India
Regulations, 2015 (including any amendment thereof) and the Code of Conduct for Prevention of Insider Trading and Co
Practices.
10. Review of the utilization of loans and/or advances from/investment by the holding company in the subsidiary exceed
asset size of the subsidiary, whichever is lower including existing loans / advances / investments.
11. The Audit Committee may also review such matters as are considered appropriate by it or referred to it by the Board
The Audit Committee is empowered pursuant to its terms of reference to:
(i) Investigate any activity within its terms of reference and to seek information it requires from any employee;
(ii) Obtain legal or other independent professional advice and to secure the attendance of outsiders with relevant exper
considered necessary.
During the year, all recommendations of Audit Committee were accepted by the Board.
The total fees paid by the Company on a consolidated basis, for all services rendered by M/s. S.R. Batliboi & Associates L
101049W/E300004), statutory auditor of the Company is ` 12.62 million.
B. NOMINATION & REMUNERATION COMMITTEE
The constitution and the terms of reference of the Nomination & Remuneration Committee (“NRC”) are incompliance wit
the Companies Act, 2013 and Regulation 19 read with Part D of Schedule II of the Listing Regulations.
COMPOSITION, MEETINGS & ATTENDANCE DURING THE YEAR
The Committee comprises of three Non-Executive Directors including 2 (two) Independent directors. The Committee is c
During the year under review, 4 (four) Nomination &
Remuneration Committee meetings were held on June 22, 2020, September 7, 2020, November 10, 2020 and February 1
composition, meetings & attendance of the NRC are given in Table No. 5 as under:
TABLE 5
COMPOSITION, MEETINGS & ATTENDANCE DETAILS OF NOMINATION & REMUNERATION COMMITTEE FOR FY 2020-21

Name of the Member Category Position in the Committee No. of Meetings

Held

Mr. Saurabh Srivastava Non-Executive, Independent Director Chairman 4

Mr. Kapil Kapoor Non- Executive, Non-Independent Director Member 4

Ms. Bala C Deshpande Non-Executive, Independent Director Member 4

Mr. MM Jain, Company Secretary acts as the Secratary to the Committee.
Mr. Saurabh Srivastava, Chairman of NRC attended the AGM held on September 22, 2020.
BRIEF DESCRIPTION OF TERMS OF REFERENCE
NRC, vide Committee Charter as approved by the Board, has been entrusted with the responsibility of formulating the cri
positive attributes and independence of a director including identifying, screening and reviewing candidates qualified to b
candidates who may be appointed in senior management.

The terms of reference of the NRC, primarily include the following:

1. Assisting the Board with respect to its composition so as to ensure that the Board is of a size and composition condu
decisions.
2. Reviewing the Board’s Committee structures and to make recommendations for appointment of member/ Chairman
3. Ensuring that effective induction and education procedures exist for new Board appointees and senior management.
4. Ensuring that appropriate procedures exist to assess and review and evaluate the performance of the Directors, sen
and the Board as a whole.
5. To formulate and recommend to the Board a remuneration policy for the directors, key managerial personnel and ot
6. To recommend to the Board on all remuneration in whatsoever form, payable to Senior Management.
7. Ensuring that the remuneration to directors, key managerial personnel and senior management involves a balance b
reflecting short and long-term performance objectives appropriate to the working of the Company and its goals.
8. Formulation of criteria for evaluation of performance of independent directors and the board of directors.
9. Devising a policy on diversity of board of directors.
10. Identifying persons who are qualified to become directors and who may be appointed in senior management in acco
and recommend to the board of directors their appointment and removal.
11. Whether to extend or continue the term of appointment of the independent director, on the basis of the report of pe
independent directors.
The Committee also administers Company’s Stock Option Scheme(s) .

BOARD FAMILIARIZATION PROGRAMMENRC designed & recommended a familiarization programme for Indepe
BOARD DIVERSITY POLICY
The Company recognizes and embraces the benefits of having a diverse Board of Directors that possesses a balance of s
diversity of perspectives appropriate to the requirements of the businesses of the Company. The Company’s Board Diver
that Board
appointments should be based on merit, that compliments and expands the skills, experience and expertise of the Board
knowledge, professional experience and qualifications, gender, age, cultural and educational background, and any other
consider relevant and applicable from time to time for it to function effectively.
The matrix setting out the skills/expertise/competence of the Board of Directors is given in Table No. 6 mentioned in the
 sted subsidiary companies.
ecurities & Exchange Board of India (Prohibition of Insider Trading)
Prevention of Insider Trading and Code of Corporate Disclosure

ng company in the subsidiary exceeding rupees 100 crore or 10% of the

nvestments.
te by it or referred to it by the Board.

requires from any employee;

nce of outsiders with relevant experience and expertise, when

rd.
d by M/s. S.R. Batliboi & Associates LLP, Chartered Accountants (FRN:

mittee (“NRC”) are incompliance with the provisions of Section 178(1) of

sting Regulations.

ndent directors. The Committee is chaired by Independent director.

, November 10, 2020 and February 12, 2021. The details of the

ATION COMMITTEE FOR FY 2020-21

No. of Meetings

Attended

4
2020.

e responsibility of formulating the criteria for determining qualifications,

d reviewing candidates qualified to be appointed as directors and

rd is of a size and composition conducive to making appropriate

appointment of member/ Chairman of the Committees.

appointees and senior management.
he performance of the Directors, senior management, Board committees

ors, key managerial personnel and other employees.

o Senior Management.
or management involves a balance between fixed and incentive pay
the Company and its goals.
nd the board of directors.

ointed in senior management in accordance with the criteria laid down,

ctor, on the basis of the report of performance evaluation of

amiliarization programme for Independent Directors of the Company which has been adopted by the Board of Directors and is in accordance with the Reg
ectors that possesses a balance of skills, experience, expertise and
mpany. The Company’s Board Diversity Policy is a reflection of its belief

perience and expertise of the Board as a whole taking into account

cational background, and any other factors that the Board might

ven in Table No. 6 mentioned in the next page.

 TABLE 6
THE MATRIX SETTING OUT THE SKILLS/ EXPERTISE /COMPETENCE OF THE BOARD OF DIRECTORS
TABLE 6.1

Skills Experience

Technology • Ability to understand the current drivers of innovation in

the information technology market; and
• Experience in delivering new product offerings in
response to market demand to achieve market leadership.

Business • Ability to drive business success in the relevant markets.

Environment
Knowledge

Strategy/ • Leadership experience in established corporate entities;

Business and
Leadership • Understanding of organizations, processes, strategic
planning and risk management, driving change and long-
term growth.

Financial • Experience in management or supervision of finance

Knowledge functions, capital allocation and financial reporting
processes.

Sales and • Rich experience in sales & marketing and good

Marketing understanding of commercial processes.

Board Services • Demonstrated competence and experience at Board

& Governance level; and
• Having completed formal training in
directorship/governance.

Risk • Risk and compliance oversight.

Good • Leadership and management experience;

Interpersonal • Willingness to keep an open mind and recognize other
Skills & perspectives; and
Sensitivity • Ability to identify opportunities and threats.

Practical • Specialized knowledge in a specific area;

Wisdom and • Ability to critically analyze complex and detailed
Good Judgment information, distil key issues; and
• Develop innovative approaches and solutions to
problems.
LS/ EXPERTISE /COMPETENCE OF THE BOARD OF DIRECTORS

Attributes

• Background in technology, ability to anticipate technological trends,

identify disruptive innovation and create new business models; and
• Hands-on experience & knowledge about respective field, excellent
problem- solving skills.

• Understanding of diverse business environments, economic

conditions, cultures and regulatory frameworks; and
• Broad perspective on global market opportunities.

• Ability to think strategically and identify and critically assess

strategic opportunities and threats and develop effective strategies in
the context of the strategic objectives of the Company.

• Ability to analyze key financial statements, critically assess financial

viability and performance; and
• Contribute to strategic financial planning and efficient use of
financial resources.

• Ability to develop strategies to grow sales & market share; and

• Build brand awareness & equity and enhance company reputation.

• Willingness and commitment to devote the required time to duties

& responsibilities of Board Membership;
• Willingness to represent the best interest of all stakeholders and
objectively appraise Board and management performance;
• Service on prominent Companies Board;
• Maintaining board and management accountability; and
• Protecting shareholders interest, and observing appropriate
governance practices.

• Ability to identify key risks to the Company in a wide range of areas

including legal and regulatory compliance; and
• Monitor risk and compliance management frameworks and systems.

• Possessing an intellectual curiosity about the Company and trends

impacting it; and
• Full participation and proactive as a Board member, willingness to
challenge management and challenge assumptions, stimulate board
discussions with new alternative insights and ideas.

• Highest personal and professional ethical standards and honesty;

• Willingness to deal with tough issues; and
• Maturity and discipline to know and maintain the fine line between
governance and managerial oversight.
 TABLE 6.2
In the table below, the specific areas of focus or expertise of individual board members have been highlighted. These sk
encompassing several areas of expertise/experience. Each Director may possess varied combinations of skills/experience
parameters and it is not necessary that all Directors possess all skills/experience listed therein.

Skills/Expertise/Competencies

Name of the Business Strategy/ Financial Sales and Board Good

Director Environment Business Knowledge Marketing Services & Interpersonal
Technology Risk
Knowledge Leadership Governance Skills &
Sensitivity
Mr. Kapil Kapoor - Yes Yes Yes Yes Yes Yes Yes

Mr. Sanjeev Yes Yes Yes Yes Yes Yes Yes Yes
Bikhchandani
Mr. Hitesh Oberoi Yes Yes Yes Yes Yes Yes Yes Yes

Mr. Chintan - Yes Yes Yes - Yes Yes Yes

Thakkar
Mr. Saurabh Yes Yes Yes Yes Yes Yes Yes Yes
Srivastava
Mr. Naresh Gupta Yes Yes Yes Yes Yes Yes Yes Yes

Mr. Sharad Malik Yes Yes Yes Yes - Yes Yes Yes

Ms. Bala C - Yes Yes Yes Yes Yes Yes Yes

Deshpande
Mr. Ashish Gupta Yes Yes Yes Yes - Yes Yes Yes

Ms. Geeta Mathur - Yes Yes Yes - Yes Yes Yes

REMUNERATION POLICYThe Company’s remuneration policy ensures that its Directors, Key Managerial Personnel
ve been highlighted. These skills/competencies are broad-based,
mbinations of skills/experience within the described set of
ein.

Practical
Wisdom and
Good
Judgment
Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

s, Key Managerial Personnel and other employees working in the senior management team are sufficiently incentivized for enhanced performance. In dete
 and fair rewards for the achievement of key deliverables and also aligns with practice in the industry and shareholders’ e
remuneration for the Executive Directors, the Company takes into account the market sector, business performance and
companies.
The total remuneration package of Executive directors shall include:
A. Fixed Remuneration: Executive Directors shall receive a fixed monthly amount as salary with merit based periodic
the board upon the recommendation of NRC within the overall range approved by the shareholders in general meeting. S
function-related system and be in line with market practices. The fixed remuneration shall also include other remuneratio
house rent allowance or company leased accommodation, cars with services of driver, medical reimbursements, leave tra
telephone/internet/fax at residence, cell phone expenses etc. including such other perquisites as the NRC may approve fo
to discharge their duties besides statutory contributions to provident fund/superannuation fund, Gratuity etc.
B. Variable Remuneration: The Executive Directors receive Variable Remuneration keeping the performance of the C
variable remuneration to be paid out is dependent upon the degree to which the Company achieves its targets. This Perf
bonus is calculated with reference to the net profits of the Company in a particular financial year and is determined by th
the financial year based on the recommendations of NRC, subject to overall ceilings stipulated in the Companies Act, 201
than Promoter-Directors, are also eligible to receive Stock Options.
NON-EXECUTIVE/INDEPENDENT DIRECTORS’ REMUNERATION
NRC advises the Board regarding Non-Executive/Independent Directors’ Remuneration. The remuneration package of the
Directors is structured in consonance with the existing industry practice and is fee based, which may be reviewed at regu
amount that may be permissible under the provisions of the Companies Act, 2013. The Non- Executive/Independent Dire
meeting of the Board or the Committee (s) are as follows in Table No. 7:
TABLE 7
THE NON-EXECUTIVE/INDEPENDENT DIRECTORS’ FEE FOR ATTENDING EACH MEETING OF THE BOARD OR THE COMM

Audit Nomination & Stakeholders’ Corporate Social

Committee Remuneration Relationship Responsibility
Type of the Board Meeting Committee Committee Meeting Committee Meeting
Meeting Meeting Meeting

Amount Payable (`) 100,000 75,000 50,000 50,000 50,000

No fee is paid for attending Risk Management Committee Meeting, Business Responsibility Reporting Committee Meeting
Executive Directors.
The Non-Executive Directors are also paid by way of commission, as approved by the shareholders subject to the maxim
provisions of the Companies Act, 2013. In terms of the shareholders’ approval obtained at the AGM held on July 25, 2016
paid Commission, as decided by the Board, within the maximum limit of 1% per annum of the net profits of the Compan
The proposal of payment of Commission to Non-Executive Directors is placed before the NRC and the Board. Total comm
Directors is divisible into two parts – Fixed & Variable. The Commission is distributed on the basis of their attendance and
certain Committee Meetings as well as time spent for the Company, other than at the meetings. The Table No. 8 below g
Commission is payable.
 ractice in the industry and shareholders’ expectations. While setting
market sector, business performance and the practices in other comparable

mount as salary with merit based periodic increments as may be approved by

by the shareholders in general meeting. Such salary shall be based on a
eration shall also include other remuneration elements like special allowance,
f driver, medical reimbursements, leave travel allowance,
her perquisites as the NRC may approve for enabling the Executive Directors
erannuation fund, Gratuity etc.
neration keeping the performance of the Company in sight. The level of
he Company achieves its targets. This Performance related payment/annual
ular financial year and is determined by the Board of Directors at the end of
ilings stipulated in the Companies Act, 2013. All Executive Directors, other

neration. The remuneration package of the Non-executive/Independent

fee based, which may be reviewed at regular intervals, subject to maximum
013. The Non- Executive/Independent Directors’ fee for attending each

H MEETING OF THE BOARD OR THE COMMITTEE(S)

Strategic Review
Meeting (offsite
meeting of the
Board)

50,000
esponsibility Reporting Committee Meeting and Meetings of Committee of

by the shareholders subject to the maximum amount allowed under the

obtained at the AGM held on July 25, 2016, the Non-Executive Directors are
er annum of the net profits of the Company.
before the NRC and the Board. Total commission payable to Non-Executive
ibuted on the basis of their attendance and contribution at the Board and
n at the meetings. The Table No. 8 below gives the parameters on which the
 TABLE 8
PARAMETERS ON WHICH THE COMMISSION IS PAYABLE
Variable Commission based on attendance at the Board Meetings (`)
Fixed Commission (`)
Attendance > 50% Attendance > 75% 100% Attendance

550,000 150,000 200,000 450,000

TABLE 9
DETAILS OF REMUNERATION PAID/PAYABLE TO DIRECTORS FOR FY 2020-21
Bonus & Leave Sitting Commission Payable/
Encashment Fees $
Performance Linked
Name of the Director Salary Reimbursements Incentive

Mr. Kapil Kapoor - - - 0.90 -

Mr. Sanjeev Bikhchandani 15.83 0.70 12.41 - -

Mr. Hitesh Oberoi 15.77 0.42 12.62 - -

Mr. Saurabh Srivastava - - - 1.30 0.75

Ms. Bala C Deshpande - - - 0.80 0.75

Mr. Naresh Gupta - - - 0.95 1.00

Mr. Chintan Thakkar 17.96 0.50 5.16 - -

Mr. Sharad Malik - - - 0.95 1.00

Mr. Ashish Gupta - - - 0.50 1.00

Ms. Geeta Mathur - - - 0.95 1.00

Total 49.56 1.62 30.19 6.35 5.50

** Excluding employee share based payments.

$ The non-executive/independent directors are paid sitting fees & commission on the basis of their attendance at the Board/Committee Meetings.

SERVICE CONTRACTS, NOTICE PERIOD, SEVERANCE FEE

The Company does not enter into service contracts with the Directors as they are appointed/re-appointed with the appro
period permissible under the applicable provisions of the Companies Act, 2013 and/or Listing Regulations. Independent D
appointment letter which prescribes that any Independent Director may resign from his office subject to detailed reasons
confirmation that there is no other material reason other than those provided to the Board. The Company does not pay a
payment to the Directors. Therefore, the Directors need not serve any notice period upon leaving the Company.
None of the Non-Executive Directors had any pecuniary relationship or transactions vis-à-vis the Company, other than th
explained above.
TABLE 10
DETAILS OF STOCK OPTIONS GRANTED TO DIRECTORS

No. of No. of Options No. of Options No. of No. of Options in Share

Options Vested Exercised Options force (Unvested) Issued
S. No. Name Designation
Granted Cancelled

1 Mr. Chintan Whole-time 258,000 160,000 38,000 60,000 - 30,122

Thakkar Director & CFO

No ESOPs were granted to Mr. Chintan Thakkar during FY 2020-21.

ngs (`)

00% Attendance

450,000

(In ` Million)

Total

0.90

28.94

28.81

2.05

1.55

1.95

23.62**

1.95

1.50

1.95

93.22

Board/Committee Meetings.

ed/re-appointed with the approval of the shareholders for the

ting Regulations. Independent Directors have been issued an
ffice subject to detailed reasons for his resignation along with a
d. The Company does not pay any severance fees or any other
leaving the Company.
vis the Company, other than the payment of remuneration as

Share
Issued

30,122
 Shares held by the Non-Executive Directors
The details of the shares held by the Non-Executive Directors as on March 31, 2021 is given under in Table No. 11:
TABLE 11
DETAILS OF SHARES HELD BY NON-EXECUTIVE DIRECTORS

S. No. Name No. of Shares

1 Mr. Kapil Kapoor 2,416,159

2 Ms. Bala C Deshpande 53,349

3 Mr. Sharad Malik 520,000

4 Mr. Saurabh Srivastava Nil

5 Mr. Naresh Gupta Nil

6 Mr. Ashish Gupta* 51,123

7 Ms. Geeta Mathur 125

*Ms. Nita Goyal, wife of Mr. Ashish Gupta, holds jointly with him 86,812 shares of the Company as on March 31, 2021.
REMUNERATION OF KEY MANAGERIAL PERSONNEL & SENIOR MANAGEMENT
The Company believes that a combination of fixed and performance-based payment to the Key Managerial Personnel and
(the “Executives”) helps to ensure that the Company can attract, retain and motivate its Executives.
NRC considers proposals related to the remuneration of Executives after taking into consideration the following items:
(a) Employment scenario;
(b) Remuneration packages in the industry; and
(c) Remuneration package of the managerial talent of other industries.
The total remuneration package of Executives consists of the following:
a. Fixed Salary: The Executive’s fixed salary is competitive and based on the Individual Executive’s qualifications, respo
b. Variable Salary: The Executives may receive variable salaries in addition to fixed salaries. The variable salary vary for
business verticals of the Company. The payment of variable salary also depends, inter-alia, on the performance of the Co
performance of respective business verticals where the Executive is employed.
c. Share Options: There is Employees Stock Option Plans in the form of Stock Appreciation Rights (SARs)/ Restricted St
(“Options”) in place for Employees of the Company. The focus of said Stock Option Plans is to reward employees for thei
with the Company, as well as to attract, retain, reward and motivate Employees to contribute to the growth and profitab

BOARD EVALUATION PROCESS

The Company believes that an effective Governance Framework requires periodic evaluation of the functioning of the Bo
individual director’s performance evaluation. Keeping this belief in mind, the Company on the recommendation of the NR
Evaluation criteria for
(a) The Board as a whole including its Committees; (b) Chairperson of the Board; and (c) Individual Directors as required
provisions of Listing Regulations.
 Directors as on March 31, 2021 is given under in Table No. 11:

RECTORS

Percentage to total Paid-up Capital

1.88

0.04

0.40

Nil

Nil

0.04

0.00

812 shares of the Company as on March 31, 2021.

ONNEL & SENIOR MANAGEMENT
nd performance-based payment to the Key Managerial Personnel and Senior Management Executives
y can attract, retain and motivate its Executives.
n of Executives after taking into consideration the following items:

of other industries.
sts of the following:
petitive and based on the Individual Executive’s qualifications, responsibilities and performance.
iable salaries in addition to fixed salaries. The variable salary vary for persons responsible for different
variable salary also depends, inter-alia, on the performance of the Company as a whole or the
the Executive is employed.
n Plans in the form of Stock Appreciation Rights (SARs)/ Restricted Stock Units (RSUs) and ESOP
The focus of said Stock Option Plans is to reward employees for their past performance and association
ard and motivate Employees to contribute to the growth and profitability of the Company.

Framework requires periodic evaluation of the functioning of the Board as a whole, its committees and
g this belief in mind, the Company on the recommendation of the NRC has established the Performance

(b) Chairperson of the Board; and (c) Individual Directors as required under Companies Act, 2013 and
 Some of the performance indicators for such evaluation include:
1. Attendance at Board Meetings/Committee Meetings.
2. Quality of participation in Meetings.
3. Ability to provide leadership.
4. Commitment to protect/enhance interests of all the stakeholders.
5. Contribution in implementation of best governance practices.
6. Understanding critical issues affecting the Company.
7. Bringing relevant experience to Board and using it effectively.
As part of the Evaluation Process:
1. The Board annually evaluates the performance of the Board as a whole and identify changes, if any, to further enhan
2. Chairperson of each Board Committee will annually share with Board, based on discussions among Committee memb
Committee’s functioning.
3. The Nomination and Remuneration Committee shall arrange to carry out a confidential process of performance evalu
Board of Directors excluding the Director being evaluated.
4. The Independent directors shall hold at least one meeting a year to review performance of Chairman, Non- Independ
whole.
C. STAKEHOLDERS’ RELATIONSHIP COMMITTEE
The Board has Stakeholders’ Relationship Committee pursuant to Section 178 of the Companies Act, 2013 and Regulation
look into various aspects of interest of shareholders and other security holders, if any. The Committee considers and reso
Shareholders of the Company including complaints related to transfer of shares, non-receipt of annual report or non- rec
COMPOSITION, MEETINGS & ATTENDANCE DURING THE YEAR
The Stakeholders’ Relationship Committee (SRC) comprises of two Non-Executive Directors including its Chairman and on
Committee met 4 (four) times during the financial year 2020-21 on June 22, 2020, September 7, 2020, November 10, 20
details of the composition, meetings & attendance of the SRC are given in the Table No.12.
TABLE 12
COMPOSITION, MEETINGS & ATTENDANCE DETAILS OF STAKEHOLDERS RELATIONSHIP COMMITTEE FOR FY 2020-21

No. of Meetings

Name of the Member Category Position in the Committee

Held

Mr. Kapil Kapoor Non-Executive Director Chairman 4

Ms. Bala C Deshpande Non-Executive, Independent Director Member 4

Mr. Chintan Thakkar Whole-time Director & Chief Financial Officer Member 4
Mr. MM Jain, SVP- Secretarial & Company Secretary is the Compliance Officer of the Company. He also acts as the Secre
Mr. Kapil Kapoor, Chairman of SRC attended the AGM held on September 22, 2020.
BRIEF DESCRIPTION OF TERMS OF REFERENCE
1. The Committee supervises the system of redressal of investor grievances and ensures cordial Investor
tify changes, if any, to further enhance its effectiveness.
iscussions among Committee members, an evaluation of the

ential process of performance evaluation of every Director by the entire

rmance of Chairman, Non- Independent Directors and the Board as a

Companies Act, 2013 and Regulation 20 of the Listing Regulations, to

y. The Committee considers and resolves the grievances of the
receipt of annual report or non- receipt of declared dividends.

ectors including its Chairman and one Executive Director. The

eptember 7, 2020, November 10, 2020 and February 12, 2021. The
No.12.

SHIP COMMITTEE FOR FY 2020-21

No. of Meetings

Attended

4
Company. He also acts as the Secretary to the Committee.

sures cordial Investor

 relations. The scope and functions of the Committee also include approval of transfer and transmission of shares within s
2. The Committee resolves the grievances of the Shareholders of the Company including complaints related to transfer/
of annual report/dividends, issue of new/duplicate certificates, general meetings, etc.
3. It reviews measures taken for effective exercise of voting rights by the Shareholders.
4. It reviews the adherence to the services standards adopted by the Company in respect of various services being rend
Transfer Agent.
5. It reviews various measures and initiatives taken by the Company for reducing the quantum of unclaimed dividends
dividend warrants/annual reports/statutory notices by the shareholders of the Company.
6. Review annually the internal audit report submitted by the RTA and in case the audit report contains audit observatio
the action taken report submitted by RTA including comments of the RTA’s Board and the corrective actions taken by the
Details of grievances received and attended to by the Company during the financial year 2020-21 are given below in Tab
TABLE 13
STATUS OF COMPLAINTS RECEIVED AND ATTENDED TO DURING FY 2020-21

Complaints pending as on April 1, Complaints received during Complaints resolved during the Complaints pending as on
2020 the year year March 31, 2021

Nil 2 2 Nil

The Company received requests for revalidations of expired Dividend Warrants from some Investors and these were repl
at respective locations.
D. CORPORATE SOCIAL RESPONSIBILITY COMMITTEE
In accordance with the requirements of Section 135 of the Companies Act, 2013, the Board has constituted a Corporate
Committee to assist the Board in setting the Company’s Corporate Social Responsibility Policy and assessing its Corporate
COMPOSITION, MEETINGS & ATTENDANCE DURING THE YEAR
The CSR Committee, constituted under the Companies Act, 2013, comprised of four Directors as on March 31, 2021. The
during the FY 2020-21 on April 11, 2020, June 22, 2020, September
7, 2020, November 10, 2020 and February 12, 2021. The details of the composition, meetings & attendance of the CSR C
as under:
TABLE 14
COMPOSITION, MEETINGS & ATTENDANCE DETAILS OF CORPORATE SOCIAL RESPONSIBILITY COMMITTEE FOR FY 20

Name of the Member Category No. of Meetings

Position in the
Committee Held

Mr. Saurabh Srivastava Non-Executive, Independent Director Chairman 5

Mr. Sanjeev Bikhchandani Executive Vice-Chairman Member 5

Mr. Hitesh Oberoi Managing Director & Chief Executive Officer Member 5

Mr. Chintan Thakkar Whole-time Director & Chief Financial Officer Member 5
 er and transmission of shares within stipulated time period.
luding complaints related to transfer/transmission of shares, non-receipt
c.
ders.
respect of various services being rendered by the Registrar & Share

the quantum of unclaimed dividends and ensuring timely receipt of

pany.
audit report contains audit observations, the Committee shall also review
nd the corrective actions taken by the RTA.
year 2020-21 are given below in Table 13.

mplaints pending as on
arch 31, 2021

Nil

m some Investors and these were replied along with demand drafts drawn

e Board has constituted a Corporate Social Responsibility (CSR)

ility Policy and assessing its Corporate Social Responsibility performance.

Directors as on March 31, 2021. The Committee held 5 (five) meetings

, meetings & attendance of the CSR Committee are given in Table No.14

PONSIBILITY COMMITTEE FOR FY 2020-21

No. of Meetings

Attended

5
 BRIEF DESCRIPTION OF TERMS OF REFERENCE
The Terms of Reference of CSR Committee primarily include:
1. Formulate and recommend to the Board, a Corporate Social Responsibility Policy which shall indicate the activities to
specified in Schedule VII and also reviewing the CSR Policy of the Company from time to time;
2. Formulate and recommend to the Board of the Company, CSR annual action plan in pursuance to its Policy;
3. Reviewing annual budgets with respect to CSR Policy;
4. Work with management to establish, develop and implement the requisite framework w.r.t. CSR matters;
5. Receive reports on the Company’s CSR performance to assess the effectiveness of the CSR Policy of the Company;
6. Review the findings or recommendations arising out of any audit of Company’s CSR matters;
7. Carry out any other duties and responsibilities delegated to it by the Board from time to time that are related to the p
E. RISK MANAGEMENT COMMITTEE
The Company has an effective risk management procedure, which is governed at the highest level by the Board of Direct
& streamline the procedures about risk assessment and
minimization procedures, the Board of Directors constituted a Board level Risk Management Committee (RMC).
During the year under review, the Committee comprised of three Executive Directors. During the FY 2020-21, the Comm
2020, September 5, 2020, November 9, 2020 and February 11, 2021.
The details of the composition, meetings & attendance of the RMC are given in Table No.15 as under:
TABLE 15
COMPOSITION, MEETINGS & ATTENDANCE DETAILS OF RISK MANAGEMENT COMMITTEE FOR FY 2020-21

Position in the No. of Meetings

Name of the Member Category Committee
Held
Mr. Chintan Thakkar Whole-time Director & Chief Financial Officer Chairman 4

Mr. Sanjeev Bikhchandani Executive Vice-Chairman Member 4

Mr. Hitesh Oberoi Managing Director & Chief Executive Officer Member 4

Ms. Geeta Mathur* Non-Executive, Independent Director Member -

Mr. Ashish Gupta* Non-Executive, Independent Director Member -

* Ms. Geeta Mathur & Mr. Ashish Gupta have been appointed by the Board, pursuant to the recommendation of the Nomination & Remuneration Committee, a
w.e.f. April 1, 2021.
Mr. MM Jain, Company Secretary acts as the Secretary to the Committee.
BRIEF DESCRIPTION OF TERMS OF REFERENCE
RMC, as approved by the Board, has been entrusted with the responsibility of framing, implementing and monitoring the
Company, making the exercise broad based and inclusive, taking periodical feedback from Business and Functional head
respect to their business area which specifically cover cyber security and the Company in general & steps taken/suggeste
F. BUSINESS RESPONSIBILITY REPORTING COMMITTEE
The Company, in compliance with provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 201
companies by market capitalization to give Business Responsibility Report (“BR Report”) in their Annual Report describing
Company from an Environmental, Social and Governance perspective in the format specified by the SEBI, has constituted
Responsibility Reporting Committee” (“BRRC”).
which shall indicate the activities to be undertaken by the company as
e to time;
in pursuance to its Policy;

work w.r.t. CSR matters;

of the CSR Policy of the Company;
SR matters;
time to time that are related to the purpose of the Committee.

highest level by the Board of Directors. However, to further strengthen

gement Committee (RMC).

. During the FY 2020-21, the Committee met 4 (four) times on June 21,

No.15 as under:

ITTEE FOR FY 2020-21

No. of Meetings

Attended
4

-
the Nomination & Remuneration Committee, as members of the Risk Management Committee
g, implementing and monitoring the risk management plan for the
from Business and Functional heads about their risk perception with
ny in general & steps taken/suggested to mitigate such risks.

ure Requirements) Regulations, 2015, that mandates top 1000 listed

rt”) in their Annual Report describing the initiatives taken by the
pecified by the SEBI, has constituted a Committee- “Business
 During the FY 2020-21, the Committee met 4 (four) times on June 21, 2020, September 5, 2020, November 9,
2020 and February 11, 2021.
The details of the composition & attendance of the BRRC are given in Table No.16 as under:
TABLE 16
COMPOSITION, MEETINGS & ATTENDANCE DETAILS OF BUSINESS RESPONSIBILITY REPORTING COMMITTEE FOR FY

Position in the No. of Meetings

Name of the Member Category Committee
Held Attended
Mr. Chintan Thakkar Whole-time Director & Chief Financial Officer Chairman 4 4

Mr. Sanjeev Bikhchandani Executive Vice-Chairman Member 4 4

Mr. Hitesh Oberoi Managing Director & Chief Executive Officer Member 4 4

BRIEF DESCRIPTION OF TERMS OF REFERENCE

BRRC, as approved by the Board, has been entrusted with the responsibility of framing, implementing and monitoring va
policies/initiatives and assessing the BR performance of the Company.
G. COMMITTEE OF EXECUTIVE DIRECTORS
The Committee of Executive Directors (COED) has been constituted to take decisions on certain matters of routine nature
decision and where the convening of a Board Meeting
immediately may not be feasible, in addition to dwelling upon and take decisions, on behalf of the Board, in matters as m
the Board.
COMPOSITION, MEETINGS & ATTENDANCE DURING THE YEAR
The COED, constituted by the Board, comprised of three Executive Directors as on March 31, 2021. The Committee held
financial year 2020-21 as and when required. The details of the composition & attendance of the COED are given in Tabl
TABLE 17
COMPOSITION, MEETINGS & ATTENDANCE DETAILS OF COMMITTEE OF EXECUTIVE DIRECTORS FOR FY 2020- 21

Position in the No. of Meetings

Name of the Member Category Committee
Held
Mr. Sanjeev Bikhchandani Executive Vice-Chairman Chairman 12

Mr. Hitesh Oberoi Managing Director & Chief Executive Officer Member 12

Mr. Chintan Thakkar Whole-time Director & Chief Financial Officer Member 12
Mr. MM Jain, Company Secretary acts as the Secretary to the Committee.
BRIEF DESCRIPTION OF TERMS OF REFERENCE
The Terms of Reference of COED primarily include:
1. To purchase, acquire and/or take on lease land, building and other movable and immovable properties for the purpo
2. To open, close and operate the Bank Accounts held, in the name of the Company.
3. To authorize the Officers and/or other person or persons on behalf of the Company to represent the Company before
Government(s), Govt. Departments, local bodies etc.
4. To authorize the Officers and/or other person or persons on behalf of the Company to attend meetings of

Companies in which Company is or would be shareholder and to vote there on behalf of the Company.
5. To make, vary or repeal any bye-law or bye-laws, service regulations and/or any standing orders for the regulations
6. To delegate all its above powers to any of its Officers and/or Employees.
7. To exercise such powers and discharge such functions as may be conferred upon it from time to time by the Compan
Board of Directors.
8. Any other matter of routine nature for attaining operational efficiencies & flexibility in running the day to day affairs

SUBSIDIARY COMPANIESThe Board of Directors of the Company, to determine the Material Subsidiaries of the Com
MANAGEMENTMANAGEMENT DISCUSSION & ANALYSIS REPORT: The Management Discussion and Analysi
Schedule III (Division II) to the Act. Based on the nature of services and the time between the rendering of service and
equivalents, the Company has ascertained its operating cycle as twelve months for the purpose of current and non-curre
liabilities.
Effective April 1, 2016, the Company has adopted all the Ind AS and the adoption was carried out in accordance with Ind
Indian Accounting Standards’, with April 1, 2015 as the transition date. The transition was carried out from Indian Accou
in India as prescribed under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014 (IGAAP) w
COST AUDITORS: The provisions of maintenance of Cost Records as specified by the Central Government under sub-se
Companies Act, 2013 are not applicable on the Company.
DETAILS OF NON-COMPLIANCE BY THE COMPANY: The Company has complied with the requirements of regulator
penalties/strictures were imposed on the Company by Stock Exchanges or SEBI or any statutory authority for non-compl
capital market during the last three years except as disclosed below:
During the current Financial Year 2021-22, the penalty of `11,800/- each was imposed on the Company for Non-Complia
(Listing Obligations and Disclosure Requirement) Regulations,
2015 (“Listing Regulations”) by NSE & BSE respectively for late submission of voting results of the shareholders’ meeting
& approve the scheme of Amalgamation of Highorbit Careers Pvt.
Ltd. with Info Edge (India) Ltd.
The Company has duly paid the said penalty on May 31, 2021 subject to final disposal of an application made by the Com
imposed. The Company has filed an application dated May 31, 2021 with NSE and BSE for dropping this penalty since it w
comply with the requirements of the Listing Regulations as the said Meeting of Equity Shareholders was held in accordan
Hon’ble National Company Law Tribunal (“NCLT”) and all disclosures were made by the Company within the NCLT-stipula
delay in compliance was only due to impossibility of compliance
as the court appointed Chairperson’s report was not available to the Company, making it impossible to disclose it. The Co
Results to the Stock Exchanges on April 20, 2021, after receipt of the NCLT-appointed Chairperson’s Report including vot
April 19, 2021 which is within 48 hours of receiving the same. Further, response from stock exchanges is awaited.
CODE FOR PREVENTION OF INSIDER-TRADING PRACTICES: In compliance with the SEBI regulations on preventi
has instituted a comprehensive Code of Conduct to regulate, monitor and report trading by Insiders for Prevention of Ins
and staff to prevent Insider Trading. Further, it also seeks to ensure timely and adequate disclosure of Price Sensitive Inf
community by the Company to enable them to take informed investment decisions with regard to the Company’s securiti
implemented a web based platform which provides an integrated solution/online platform for automation of Insider Trad
with the Securities and Exchange Board of India (Prevention of Insider Trading), Regulations 2015, as amended from tim
This digital tool will help the Designated Persons to manage, monitor, track and report their dealings in shares of the Com
CEO/CFO CERTIFICATION: In compliance with Regulation 17(8) of the Listing Regulations, the CEO and CFO certifica
duly signed by the Managing Director & CEO, the Whole- time Director & CFO and the Vice-Chairman of the Company, fo
enclosed at the end of
the Report. In order to imbibe a compliance & ethical culture in the organization, the Company has adopted digitally ena
(“Compliance Dashboard”) which provides reasonable comfort and assurance to the Management and the Board of Direc
timely compliances. The amendments and changes in regulations are also integrated in the tool. Responsibility matrix is
responsibility. The timelines are fixed based on the legal requirement in the Compliance Dashboard and the system is alig
the users on a timely manner followed
by the escalations to management in event of delayed/non-compliance. The updation of such system is an ongoing proce
back-up certification system by Business & Functional Heads for compliance with respect to their concerned areas thereb
compliance protection and
assurance to management and Board of Directors.
CERTIFICATE FOR NON-DISQUALIFICATION OF DIRECTORS: A certificate from M/s Chandrasekaran Associates,
has been issued, confirming that none of the Directors on the Board of the Company has been debarred or disqualified fr
as a director by the Securities and Exchange Board of India/Ministry of Corporate Affairs or any such statutory authority.
Annexure to this report.
CODE OF CONDUCT: The Board has laid down a Code of Ethics (Conduct) for all Board members and Senior Managem
displayed on the website of the Company
http:// [Link]/pdfs/[Link]. All Board members and Senior Management personnel affirmed compliance w
declaration signed by the Chief Executive Officer (CEO) to this effect is enclosed as Annexure at the end of this report.
SEXUAL HARASSMENT POLICY: The Company has zero tolerance for sexual harassment at workplace and has adopte
prohibition and redressal of sexual harassment at workplace in line with the provisions of Sexual Harassment of Women
Prohibition and Redressal) Act, 2013 and rules framed thereunder.
During the financial year 2020-21, the Company has not received any complaint on sexual harassment.
WHISTLE BLOWER POLICY: The Company has formulated an effective Whistle Blower Mechanism and a policy that la
concerns about unethical behavior, actual or suspected fraud or violation of the Company’s Code of Conduct or ethics po
Objective of the Policy is to establish no threat window whereby an individual, who is aware of any Protected Disclosure
the Company, is able to raise it to the appropriate channel as outlined in the policy, to ensure appropriate and timely ins
action and offer protection to such individual from victimization, harassment or disciplinary proceedings. The Company a
Arbitrage Consulting, as an Independent External Ombudsman. During the Financial Year 2020-21, no personnel has bee
committee for raising concerns under Whistle Blower Policy.
SUCCESSION PLAN: The Board of Directors has satisfied itself that plans are in place for orderly succession for appoin
Senior Management.

DIRECTORS AND OFFICERS INSURANCE (D&O)

As per the provisions of the Act and in compliance with Regulation 25 (10) of the Listing Regulations, the Company has t
Insurance (D&O) on behalf of all the Directors including Independent Directors and officers of the Company.

COMPLIANCE
MANDATORY REQUIREMENTS: The Company is in full compliance with all applicable mandatory corporate governanc
Regulations.
DISCRETIONARY REQUIREMENTS: Company has also adopted/followed the following discretionary requirements:
1. The Office of the Chairman is held by a Non-Executive/Non-Promoter director.
2. The Internal Auditors of the Company M/s TR Chadha & Co LLP, Chartered Accountants report directly to the Audit Co
Company.
3. The company has framed a policy for Redressal of Investor Grievances.
4. Quarterly Results are sent electronically to all the shareholders whose e-mail ids are registered with RTA once the sam
Directors of the Company in each quarter. In addition, financial statements of the Company are uploaded on the website
SHAREHOLDERS
RE-APPOINTMENT/APPOINTMENT OF DIRECTORS: The Companies Act, 2013 provides for appointment of indepen
five consecutive years on the Board of a Company who shall be eligible for reappointment on passing a special resolution
Company. Further, it provides that

no independent director shall be eligible for appointment for more than two consecutive terms of up to five years each.A
ber 5, 2020, November 9,

under:

REPORTING COMMITTEE FOR FY 2020-21

No. of Meetings

Attended
4

g, implementing and monitoring various Business Responsibility (BR)

on certain matters of routine nature which may require an immediate

behalf of the Board, in matters as may be specifically delegated to it by

rch 31, 2021. The Committee held 12 (twelve) meetings during the
ance of the COED are given in Table No.17 as under:

DIRECTORS FOR FY 2020- 21

No. of Meetings

Attended
12

12

12
mmovable properties for the purpose of the Company.
.
ny to represent the Company before Central and/or State

ny to attend meetings of

of the Company.
standing orders for the regulations of the business of the Company.

it from time to time by the Company in the general meeting or by the

ty in running the day to day affairs of the Company.

he Material Subsidiaries of the Company and to provide the governance framework for such subsidiaries, has adopted a policy with regard to determinatio
anagement Discussion and Analysis Report is given separately and forms part of this Annual [Link] ON RELATED PARTY TRANSA
ween the rendering of service and their realisation in cash and cash
e purpose of current and non-current classification of assets and

s carried out in accordance with Ind AS 101 ‘First time Adoption of

was carried out from Indian Accounting Principles generally accepted
s (Accounts) Rules, 2014 (IGAAP) which was the previous GAAP.
e Central Government under sub-section (1) of Section 148 of the

with the requirements of regulatory authorities. No

y statutory authority for non-compliance on any matter related to

d on the Company for Non-Compliance with Regulation 44(3) of SEBI

esults of the shareholders’ meeting held on April 12, 2021 to consider

l of an application made by the Company for waiver of the fine

E for dropping this penalty since it was impossible for the Company to
Shareholders was held in accordance with the directions of the
he Company within the NCLT-stipulated timelines and any perceived

g it impossible to disclose it. The Company had intimated the Voting

Chairperson’s Report including voting results of the said Meeting on
stock exchanges is awaited.
th the SEBI regulations on prevention of Insider Trading, the Company
ng by Insiders for Prevention of Insider Trading for its management
uate disclosure of Price Sensitive Information to the investor
th regard to the Company’s securities. The Company has also
form for automation of Insider Trading Compliances in accordance
ulations 2015, as amended from time to time.
t their dealings in shares of the Company.
ulations, the CEO and CFO certification on the financial statements,
e Vice-Chairman of the Company, for the year ended March 31, 2021 is

Company has adopted digitally enabled compliance management tool

Management and the Board of Directors regarding effectiveness of
n the tool. Responsibility matrix is cascaded down to single point of
ce Dashboard and the system is aligned in such a manner that it alerts

of such system is an ongoing process. The Company also follows a

ect to their concerned areas thereby providing double layer of
m M/s Chandrasekaran Associates, Practicing Company Secretaries,
has been debarred or disqualified from being appointed or continuing
irs or any such statutory authority. The certificate is appended as an

ard members and Senior Management of the Company. The Code is

nt personnel affirmed compliance with the Code of Conduct. A

nnexure at the end of this report.
sment at workplace and has adopted a policy on prevention,
s of Sexual Harassment of Women at Workplace (Prevention,

exual harassment.
wer Mechanism and a policy that lays down the process for raising
any’s Code of Conduct or ethics policy (“Protected Disclosure”).
aware of any Protected Disclosure in
o ensure appropriate and timely institutional response and remedial
inary proceedings. The Company also has appointed M/s. Thought
ear 2020-21, no personnel has been denied access to the audit

e for orderly succession for appointment to the Board of Directors and

ng Regulations, the Company has taken a Directors and Officers

ficers of the Company.

ble mandatory corporate governance requirements of the Listing

wing discretionary requirements:

ntants report directly to the Audit Committee of the Board of the

re registered with RTA once the same are approved by the Board of
mpany are uploaded on the website of the Company on quarterly basis.
provides for appointment of independent directors for a term of up to
ment on passing a special resolution by the shareholders of the

ve terms of up to five years [Link], the tenure of the second term of Ms. Bala C Deshpande is 3 years, for Mr. Naresh Gupta and Mr. Saurabh
 Date of Board Meeting to
Quarter/Annual approve the result Date of Publication English Newspaper

Q1 FY 2020-21* September 7, 2020 September 9, 2020 Business Standard

Q2 FY 2020-21 November 10, 2020 November 12,2020 Business Standard

Q3 FY 2020-21 February 12, 2021 February 14, 2021 The Financial Express

Q4 & Annual FY2020-21 June 21, 2021 June 22, 2021 The Financial Express
* In view of spread of COVID-19 pandemic and government imposed national lockdown, SEBI vide circular dated July 29, 2020 gave relaxation to listed comp
meeting relating to financial results for Q1 from August 14, 2020 to September 15, 2020.
PRESS/NEWS RELEASES, PRESENTATIONS: Official press releases are sent to Stock Exchanges and are displayed

WEBSITE: Company’s website- [Link] contains a separate section ‘Investor Relations’ where shareholders’
 Hindi Newspaper

Business Standard

Business Standard

Jansatta

Jansatta
e circular dated July 29, 2020 gave relaxation to listed companies of 1 (one) month to hold the Board

re sent to Stock Exchanges and are displayed on the website of the Company at [Link] TO INSTITUTIONAL INVESTOR

ion ‘Investor Relations’ where shareholders’ information is available. The quarterly, half yearly and annual financial results, official news releases and pre
 Meeting Date Time Venue

Sri Sathya Sai International Centre, Bhisham Pitamah

23 AGM
rd
July 24, 2018 4.30 PM Marg, Lodhi Road, New Delhi- 110003

Sri Sathya Sai International Centre, Bhisham Pitamah

Marg, Lodhi Road, New Delhi – 110003
24 AGM
th
August 13, 2019 4.30 PM

Through Video Conferencing/Other Audio Visual Means

Deemed venue of the meeting: Registered Office of the
Company at GF-12A, 94, Meghdoot Building, Nehru Place,
New
Delhi-110019
25 AGM
th
September 22, 2020 5.30 PM

SPECIAL RESOLUTION PASSED THROUGH POSTAL BALLOT

During the year under review, the Company approached the members once for seeking their approval through Postal Bal
pattern of the said resolution(s) are mentioned below:
TABLE 20

Date of Postal Ballot Notice: June 22, 2020 Voting Period: June 28, 2020 to July 27, 2020

Effective date of approval: July 27, 2020 Date of Declaration of result: July 28, 2020
 No. of Special
Resolutions Passed

None

One
(To re-appoint Mr. Sharad Malik
as an Independent Director of
the Company)
One
(To consider and approve the
continuation of Directorship of
Mr. Saurabh Srivastava (DIN:
00380453) Independent Director
of the Company, post attaining
the age of 75 (Seventy five)
years during his present tenure)

ers once for seeking their approval through Postal Ballot. The details including the voting

June 28, 2020 to July 27, 2020

aration of result: July 28, 2020

 TABLE 21
Particulars of Resolution Type of Total Votes Total Votes in Total Votes
Resolution Received Favour Against
Issuance of Equity Shares through Qualified Institutions Special 101,617,289 101,568,541 48,748
Placement

Mr. Rupesh Agarwal, Managing Partner, M/s Chandrasekaran Associates, Practicing Company Secretaries failing him M
 Invalid
Votes
-

Company Secretaries failing him Mr. Shashikant Tiwari, Partner, M/s Chandrasekaran Associates, Practicing Company Secretaries had been appointed as t
 Advocate, as the Alternate Chairperson and Ms. Mallika Tayal, Company Secretary, as the Scrutinizer of the aforesaid me
In Compliance with the Regulation 44 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 and ot
Companies Act, 2013 read with rules made thereunder, the Company provided electronic Voting facility to all its Equity S
Unsecured Creditors to cast their vote electronically. The Company engaged the Services of Link Intime India Pvt. Ltd. (“
providing E-voting facility.
The details of the aforesaid meetings including the voting pattern are mentioned below:
TABLE 22

Date of the meeting April 12, 2021

Voting Period April 8, 2021 (at 09:00 A.M. IST) to April 11, 2021 (at 5:00 P.M. IST)

April 20, 2021 (within 48 hrs. from the receipt of Chairperson’s report)
Date of Declaration of result

TABLE 23
Particulars of Resolution
Type of Total Votes Total Votes in Total Votes
Resolution Received Favour Against

Approval of Equity Shareholders for the proposed

Amalgamation of Highorbit Careers Private Limited (the
“Transferor Company”) with Info Edge (India) Limited (the Special 106,052,610 106,052,504 106
“Transferee Company”)

Approval of Secured Creditors for the proposed

Amalgamation of Highorbit Careers Private Limited (the
“Transferor Company”) with Info Edge (India) Limited (the Special 4,086,723 4,086,723 -
“Transferee Company”)

Approval of Unsecured Creditors for the proposed

Amalgamation of Highorbit Careers Private Limited (the
“Transferor Company”) with Info Edge (India) Limited (the Special 1,233,950 1,233,950 -
“Transferee Company”)

The Chairperson had filed his report with the NCLT on April 18, 2021 within a week’s time from the date of holding of
FINANCIAL CALENDARFinancial year: April 1, 2020 to March 31, 2021For the year ended March 31, 2021, results w
he Scrutinizer of the aforesaid meeting.
ements) Regulations, 2015 and other applicable provisions of the
ic Voting facility to all its Equity Shareholders, Secured Creditors and
es of Link Intime India Pvt. Ltd. (“LinkIntime”) for the purpose of

t 5:00 P.M. IST)

irperson’s report)

Invalid
Votes

315,626

750,772

s time from the date of holding of the meeting, thereafter, the copy of the same was shared with the Company. Consequently, the Company has filed the re
ar ended March 31, 2021, results were announced by:• First quarter- September 7, 2020• Half yearly- November 10, 2020• Third quarter- February 1
 No. of
Particulars Shareholders

Opening Balance: Aggregate number of shareholders and the outstanding shares in the Unclaimed Suspense
Account lying as on April 1, 2020 6

Less: Number of shareholders who approached the Company for transfer of shares and shares transferred from
Suspense account during the year -

Less: Number of shareholders whose shares got transferred from suspense account to IEPF during the year
-

Closing Balance: Aggregate number of shareholders and outstanding shares lying in the suspense account as on
March 31, 2021 6

LISTING
At present, the equity shares of the company are listed on BSE Ltd. (BSE) and National Stock Exchange of India Limited
the financial year 2021-22 to BSE and NSE has been paid.
TABLE 25
COMPANY’S STOCK EXCHANGE CODES

Name of the Stock Exchange Stock Code

NSE
Exchange Plaza, Plot No. C/1, G Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400 051 Naukri

BSE
Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai – 400 001 532777

ISIN CODE OF THE COMPANY

INFO EDGE (INDIA) LIMITED - INE663F01024
STOCK MARKET DATA
Monthly High and Low prices along with volumes for the relevant month are given in Table No. 26. The performance of o
and NSE NIFTY is given in Chart A and B respectively.

CHART A CHART B
Info Edge’s Share Performance Versus BSE Sensex Info Edge’s Share Performance Versus NSE
200
180
160
140
120
100
80
60
40
20
0
SENSEX INDICES INFO EDGE INDICES NIFTY INDICES INFO EDGE INDICES

Note:The share price of Info Edge and index value of BSE Sensex and NSE NIFTY have been indexed to 100 on April 1, 2020
 No. of Equity
Shares

620

620

nal Stock Exchange of India Limited (NSE). The annual listing fees for

Stock Code

Naukri

532777

n Table No. 26. The performance of our share price vis-à-vis BSE Sensex

RT B
dge’s Share Performance Versus NSE NIFTY
200 200
180 180
160 160
140 140
120 120
100 100
80 80
60 60
40 40
20 20
0 0
NIFTY INDICES INFO EDGE INDICES

on April 1, 2020
 HIGHS, LOWS AND VOLUMES OF COMPANY’S SHARES FOR FY 2020-21 AT BSE AND NSE

BSE NSE

High Low Volumes High Low

Apr-20 2,579.60 1,934.95 3,69,644 Apr-20 2,577.50 1,931.00

May-20 2,771.10 2,270.00 1,78,412 May-20 2,780.00 2,205.00

Jun-20 2,986.20 2,474.55 4,17,983 Jun-20 2,985.00 2,472.90

Jul-20 3,310.00 2,726.90 1,87,573 Jul-20 3,317.80 2,725.00

Aug-20 3,575.25 3,115.00 2,79,756 Aug-20 3,584.40 3,112.15

Sep-20 3,700.00 3,240.00 2,85,001 Sep-20 3,703.10 3,240.00

Oct-20 3,784.35 3,362.05 2,90,485 Oct-20 3,785.90 3,362.65

Nov-20 4,371.80 3,405.00 3,40,191 Nov-20 4,375.75 3,402.00

Dec-20 4,828.55 4,136.55 7,33,493 Dec-20 4,825.00 4,135.20

Jan-21 5,876.05 4,337.85 20,37,074 Jan-21 5,880.00 4,330.00

Feb-21 5,582.00 4,211.30 7,23,869 Feb-21 5,588.90 4,211.00

Mar-21 5,090.00 4,027.00 4,08,863 Mar-21 5,100.00 4,023.90

DISTRIBUTION OF SHAREHOLDING
Table Nos. 27-30 lists the distribution of the shareholding of the equity shares of the Company by size and by ownership
TABLE 27
SHAREHOLDING PATTERN BY SIZE AS ON MARCH 31, 2021

Number of Shares Number of Shareholders % of Shareholders Total Shares % of Shares

Upto 500 137,695 98.60 2,517,029 1.95

501 – 1000 620 0.44 453,855 0.35

1001 - 2000 368 0.26 523,888 0.41

2001 - 3000 139 0.10 348,230 0.27

3001 - 4000 92 0.07 326,321 0.26

4001 - 5000 67 0.05 299,692 0.23

5001 – 10000 179 0.13 1,289,922 1.00

10001 – above 488 0.35 123,025,183 95.53

Total 139,648 100.00 128,784,120 100.00

AND NSE

Volumes

68,25,412

89,08,860

1,38,52,642

74,50,690

87,40,456

1,31,88,703

1,23,25,908

1,26,56,444

1,08,45,805

2,10,81,079

1,96,76,689

1,24,78,904

f the Company by size and by ownership class as on March 31, 2021.

% of Shares

1.95

0.35

0.41

0.27

0.26

0.23

1.00

95.53

100.00
 SHAREHOLDING PATTERN BY OWNERSHIP AS ON MARCH 31, 2021
As at March 31, 2021 As at March 31, 2020

Category No. of % of No. of No. of

Shareholders No. of Shares Shareholding Shareholders Shares

A. PROMOTERS HOLDING

Indian Promoters 5* 49,464,732 38.41 5# 49,597,546

B. NON-PROMOTERS HOLDING

a) Foreign Institutional Investors 1 33,937 0.03 3 53,669

(FIIs)
b) Foreign Portfolio Investors 686 50,617,249 39.30 554 43,373,954

c) Mutual Funds, Banks & Financial 121 13,286,247 10.31 90 14,583,063

Institutions
d) Non-resident Indians 2564 535,624 0.42 1,549 558,077

e) Corporate Bodies 742 434,926 0.34 580 470,024

f) Indian Public- Individuals 132,045 8,963,634 6.96 56,902 8,106,598

g) Directors/Relatives 7 3,150,423 2.45 7 3,308,029

h) Others (Clearing Members, HUF,

LIC, ESOP Trust, Alternate
Investment Funds III, Insurance
Companies, Trusts, IEPF,NBFC 3475 2,297,348 1.78 3,069 2,465,199
Registered with RBI, Non- institution-
Any other and Trust (Employees))

Grand Total 139,646 128,784,120 100 62,759 122,516,159

# Mr. Sanjeev Bikhchandani held shares under three folios and Mr. Hitesh Oberoi held shares under two folios as on March 31, 2020 which has been clubbed t
* Mr. Sanjeev Bikhchandani and Mr. Hitesh Oberoi held shares under two folios each as on March 31, 2021, which has been clubbed together as one folio each

TABLE 29
STATEMENT SHOWING SHAREHOLDING OF PERSONS BELONGING TO THE CATEGORY “PROMOTER & PROMOTER GRO

[Link]. Name of the shareholder Number of shares % of Total

Shareholding
1 Mr. Sanjeev Bikhchandani* 31,699,159 24.61

2 Mr. Sanjeev Bikhchandani & Mr. Hitesh Oberoi (Endeavour Holding Trust) 8,306,219 6.45

3 Mr. Hitesh Oberoi* 6,497,108 5.04

4 Ms. Surabhi Motihar Bikhchandani 1,494,032 1.16

5 Ms. Dayawanti Bikhchandani 1,468,214 1.14

TOTAL 49,464,732 38.41

* Mr. Sanjeev Bikhchandani and Mr. Hitesh Oberoi held shares under two folios each as on March 31, 2021, which has been clubbed together as one folio each
March 31, 2020

% of
Shareholding

40.48

0.04

35.40

11.90

0.46

0.38

6.62

2.70

2.01

100
os as on March 31, 2020 which has been clubbed together as one folio each.
which has been clubbed together as one folio each.

GORY “PROMOTER & PROMOTER GROUP” AS ON MARCH 31, 2021

% of Total
Shareholding
24.61

6.45

5.04

1.16

1.14

38.41
which has been clubbed together as one folio each.
 STATEMENT SHOWING SHAREHOLDING OF PERSONS BELONGING TO THE CATEGORY “PUBLIC” AND HOLDING MORE
OF SHARES AS ON MARCH 31, 2021
S. No. Name of the shareholder Number of shares
held
1 Axis Mutual Fund Trustee Limited A/C Axis Mutual Fund A/C Axis Long Term Equity Fund 6,757,330

2 Nalanda India Equity Fund Limited 3,853,000

3 Anil Lall 3,133,475

4 Kapil Kapoor 2,416,159

5 Wf Asian Smaller Companies Fund Limited 1,721,800

6 Amansa Holdings Private Limited 1,686,948

7 Ambarish Raghuvanshi 1,462,288

8 Uti Flexi Cap Fund 1,371,185

9 Matthews Pacific Tiger Fund 1,350,000

Total 23,752,185
The shareholding has been consolidated on the basis of PAN.
DE-MATERIALISATION OF SHARES AND LIQUIDITY: As on March 31, 2021, over 99.99% shares of the company w
and are available for trading with both the depositories i.e. NSDL and CDSL. The Shareholder can hold the Company’s Sh
participants. As on March 31, 2021, out of 128,784,120 shares, 128,778,234 shares are held in Demat form and 5,886 sh
OUTSTANDING GDRS/ADRS/WARRANTS: The Company has not issued GDRs/ ADRs/ Warrants as of March 31, 202
DETAILS OF PUBLIC FUNDING OBTAINED IN THE LAST THREE YEARS: The Company made the initial public offe
2014-15, the Company raised an amount of `7,500 million by issuing 10,135,135 equity shares of `10/- each fully paid u
securities premium of `730/- per share) to qualified institutional buyers by way of a Qualified Institutional Placement (Q
During the year under review, the Company further raised an amount of `18,750 million by issuing 6,067,961 equity sha
`3,090/- per share (including securities premium of `3,080/-per share) to qualified institutional buyers by way of a Qual
on August 8, 2020.
Details of utilization of funds are available under note no. 33 & 34 of the notes to the financial statements. Pursuant to S
2019 details of the utilization of funds are also being submitted to the Stock Exchanges in the separate format as “Statem
utilisation of funds raised” on quarterly basis.
SUSPENSION OF SECURITIES: The securities of the Company are not suspended from trading.
CREDIT RATING: No credit rating has been obtained by the Company.
COMMODITY PRICE RISK OR FOREIGN EXCHANGE RISK AND HEDGING ACTIVITIES: The Company does not
in commodities and hence disclosure pursuant to SEBI circular dated November 15, 2018 is not required to be given. The
Foreign Exchange Risk and Hedging activities.
REGISTRAR TO AN ISSUE AND SHARE TRANSFER AGENT: The Company has appointed M/s Link Intime India Priv
Share Transfer Agent, to whom all shareholders communications regarding change of address, transfer of shares, change
addressed.
GORY “PUBLIC” AND HOLDING MORE THAN 1% OF THE TOTAL NUMBER

% of total
shareholding
5.25

2.99

2.43

1.88

1.34

1.31

1.14

1.06

1.05

18.45

over 99.99% shares of the company were held in de-materialised form

hareholder can hold the Company’s Shares with any of the depository
s are held in Demat form and 5,886 shares are held in physical form.
s/ ADRs/ Warrants as of March 31, 2021.
e Company made the initial public offering in 2006. However, in the FY
quity shares of `10/- each fully paid up at `740/- per share (including
a Qualified Institutional Placement (QIP).
million by issuing 6,067,961 equity shares of `10/- each fully paid up at
d institutional buyers by way of a Qualified Institutional Placement (QIP)

he financial statements. Pursuant to SEBI notification dated December 24,

nges in the separate format as “Statement of Deviation / Variation in

ed from trading.

ACTIVITIES: The Company does not deal

, 2018 is not required to be given. Therefore, there is no price risk or

s appointed M/s Link Intime India Private Limited as its Registrar and
of address, transfer of shares, change of mandate etc. should be
 THE ADDRESS OF THE REGISTRAR TO AN ISSUE AND SHARE TRANSFER AGENT IS AS UNDER:-Link Inti

Registered OfficeInfo Edge (India) Limited,GF-12A, 94, Meghdoot Building, Nehru Place, New Delhi- 110019 Tel No.: -

PLANT (BRANCH) LOCATIONS: Being a service provider Company has no plant locations, however the Company has
spread in 45 cities across India apart from international offices in Dubai, Bahrain, Riyadh and Abu Dhabi. The addresses
corporate website.
R TO AN ISSUE AND SHARE TRANSFER AGENT IS AS UNDER:-Link Intime India Private Limited Noble Heights, 1st Floor, Plot NH2 C-1 Block

Corporate OfficeInfo Edge (India) Limited,B-8, Sector-132, Noida-201304. Tel No’s: - 0120- 4841100Fax No: - 0120-3082095E-Ma

g a service provider Company has no plant locations, however the Company has 70 offices as on March 31, 2021
om international offices in Dubai, Bahrain, Riyadh and Abu Dhabi. The addresses of these offices are available on our
 CONFIRMATION OF COMPLIANCE WITH THE CORPORATE GOVERNANCE REQUIREMENTS SPECIFIED IN REGULATION 1
OF SUB-REGULATION (2) OF REGULATION 46
Particulars Regulation Number Compliance

Independent director(s) have been appointed in terms of specified criteria of ‘independence’ and/or 16(1)(b) & 25(6) Yes
‘eligibility’
Board composition 17(1), 17(1A) &17(1B) Yes
Meeting of Board of Directors 17(2) Yes
Quorum of Board Meeting 17(2A) Yes
Review of Compliance Reports 17(3) Yes
Plans for orderly succession for appointments 17(4) Yes
Code of Conduct 17(5) Yes
Fees/compensation 17(6) Yes
Minimum Information 17(7) Yes
Compliance Certificate 17(8) Yes
Risk Assessment & Management 17(9) Yes
Performance Evaluation of Independent Directors 17(10) Yes
Recommendation of Board 17(11) Yes
Maximum number of Directorships 17A Yes
Composition of Audit Committee 18(1) Yes
Meeting of Audit Committee 18(2) Yes
Composition of Nomination & Remuneration Committee 19(1) & (2) Yes
Quorum of Nomination & Remuneration Committee 19(2A) Yes
Meeting of Nomination & Remuneration Committee 19(3A) Yes
Composition of Stakeholders’ Relationship Committee 20(1) ,(2) & (2A) Yes
Meeting of Stakeholders’ Relationship Committee 20(3A) Yes
Composition and Role of Risk Management Committee 21(1),(2),(3),(4) Yes
Meeting of Risk Management Committee 21(3A) Yes
Vigil Mechanism 22 Yes
Policy for Related Party Transaction 23(1), (1A),(5),(6),(7) & Yes
(8)
Prior or Omnibus approval of Audit Committee for all Related Party Transactions 23(2), (3) Yes
Approval for material related party transactions 23(4) NA
Disclosure of related party transactions on consolidated Basis 23(9) Yes
Composition of Board of Directors of unlisted material subsidiary 24(1) Yes
Other Corporate Governance requirements with respect to subsidiary of listed entity 24(2),(3),(4),(5) & (6) Yes
Annual Secretarial Compliance Report 24(A) Yes
Alternate Director to Independent Director 25(1) NA
Maximum Tenure 25 (2) Yes
Meeting of independent directors 25(3) & (4) Yes
Familiarization of independent directors 25(7) Yes
Declaration from Independent Directors 25(8) & (9) Yes
D & O Insurance for Independent Directors 25(10) Yes
Memberships in Committees 26(1) Yes
Affirmation with compliance to code of conduct from members of Board of Directors and Senior 26(3) Yes
management Personnel
Disclosure of Shareholding by Non- Executive Directors 26(4) Yes
Policy with respect to Obligations of directors and senior Management 26(2) & 26(5) Yes
Disclosure on the website of the Company 46(2) Yes
 CERTIFICATION BY CHIEF EXCECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER OF THE COMPANY
We, Hitesh Oberoi, Chief Executive Officer, Chintan Thakkar, Chief Financial Officer and Sanjeev Bikhchandani, Executive Vice-Chairman
of Info Edge (India) Limited, to the best of our knowledge and belief, certify that:-
a. We have reviewed financial statements and cash flow statement for the year ended on March 31, 2021 and that to the best of our
knowledge and belief:
i. these statements do not contain any materially untrue statement or omit any material fact or contain statements that might be
misleading;
ii. these statements together present a true and fair view of the Company’s affairs and are in compliance with existing accounting
standards, applicable laws and regulations.
b. There are, to the best of our knowledge and belief, no transactions entered into by the Company during the year which are
fraudulent, illegal or violative of the Company’s code of conduct.
c. We accept responsibility for establishing and maintaining internal controls for financial reporting and that we have evaluated the
effectiveness of internal control systems of the Company pertaining to financial reporting and we have disclosed to the auditors and the
Audit Committee, deficiencies in the design or operation of such internal controls, if any, of which we are aware and the steps we have
taken or propose to take to rectify these deficiencies.
d. We have indicated to the auditors and the Audit Committee:-
i. Significant changes in internal control over financial reporting during the year;
ii. Significant changes in accounting policies during the year and that the same have been disclosed in the notes to the financial
statements; and
iii. Instances of significant fraud of which we have become aware and the involvement therein, if any, of the management or an
employee having a significant role in the Company’s internal control system over financial reporting.
Hitesh Oberoi Chintan Thakkar Sanjeev Bikhchandani
Managing Director & CEO Whole-time Director & CFO Executive Vice-Chairman
Date: June 21, 2021 Place: Noida

CEO’s DECLARATION TO COMPLIANCE OF CODE OF CONDUCTThis is to confirm that the Company has adopted a Code of Conduc
SPECIFIED IN REGULATION 17 TO 27 AND CLAUSES (b) TO (i)

Compliance

Yes

Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
NA
Yes
Yes
Yes
Yes
NA
Yes
Yes
Yes
Yes
Yes
Yes
Yes

Yes
Yes
Yes
 CERTIFICATE OF NON-DISQUALIFICATION OF DIRECTORS
(Pursuant to Regulation 34(3) and Schedule V Para C clause (10)(i) of the SEBI (Listing Obligations and Disclosure Requir

The Members,
Info Edge (India) Limited Ground Floor, GF-12A 94 Meghdoot, Nehru Place New Delhi-110020

We have examined the relevant registers, records, forms, returns and disclosures received from the Directors of Info Edge (India)
L74899DL1995PLC068021 and having registered office at Ground Floor, GF- 12A 94, Meghdoot, Nehru Place, New Delhi-110020 (
Company’), produced before us by the Company for the purpose of issuing this Certificate, in accordance with Regulation 34(3) re
10(i) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
In our opinion and to the best of our information and according to the verifications (including Directors Identification Number (DIN
as considered necessary and explanations furnished to us by the Company & its officers, We hereby certify that none of the Direc
stated below for the Financial Year ending on March 31, 2021 have been debarred or disqualified from being appointed or continu
Securities and Exchange Board of India, Ministry of Corporate Affairs or any such other Statutory Authority:

S. No. Name of Director DIN Date of appointment in

Company
1 Mr. Kapil Kapoor 00178966 01/10/2002
2 Mr. Sanjeev Bikhchandani 00065640 01/05/1995
3 Mr. Hitesh Oberoi 01189953 25/05/2001
4 Mr. Chintan Arvind Thakkar 00678173 16/10/2014
5 Mr. Saurabh Srivastava 00380453 12/06/2006
6 Mr. Naresh Chand Gupta 00172311 29/10/2007
7 Ms. Bala C Deshpande 00020130 06/09/2005
8 Mr. Sharad Malik 07045964 16/12/2014
9 Mr. Ashish Gupta 00521511 21/07/2017
10 Ms. Geeta Mathur 02139552 28/05/2019
Ensuring the eligibility for the appointment / continuity of every Director on the Board is the responsibility of the management of
express an opinion on these based on our verification. This certificate is neither an assurance as to the future viability of the Com
effectiveness with which the management has conducted the affairs of the Company.
For Chandrasekaran Associates Company Secretaries
Rupesh Agarwal Managing Partner Membership No. A16302
Certificate of Practice No. 5673 UDIN: A016302C000438251
Date: 09.06.2021
Place: Delhi
CERTIFICATE ON COMPLIANCE WITH THE CONDITIONS OF CORPORATE GOVERNANCE UNDER LISTING
REGULATIONS, 2015
The Members,
Info Edge (India) Limited Ground Floor, GF-12A 94, Meghdoot, Nehru Place, New Delhi-110020
We have examined all relevant records of Info Edge (India) Limited (the Company) for the purpose of certifying all the conditions of
the Corporate Governance under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 for the financial year
ended 31 March, 2021. We have obtained all the information and explanations which to the best of our knowledge and belief were
st

necessary for the purposes of certification.

The compliance of the conditions of Corporate Governance is the responsibility of the management. Our examination was limited to
the procedures and implementation thereof. This certificate is neither an assurance as to the future viability of the Company
nor of the efficacy or effectiveness with which the management has conducted the affairs of the Company.
On the basis of our examination of the records produced explanations and information furnished, we certify that the Company has
compiled with the conditions of the Corporate Governance under SEBI (Listing Obligations and Disclosure Requirements) Regulations,
2015.
For Chandrasekaran Associates
Company Secretaries
Rupesh Agarwal Managing Partner
Membership No. ACS 16302 Certificate of Practice No. 5673 UDIN: A016302C000487762
Date: 21.06.2021
Place: Delhi
CTORS
ons and Disclosure Requirements) Regulations, 2015)

he Directors of Info Edge (India) Limited, having CIN:

Nehru Place, New Delhi-110020 (hereinafter referred to as ‘the
ordance with Regulation 34(3) read with Schedule V Para-C Sub clause
ents) Regulations, 2015.
ectors Identification Number (DIN) status at the portal [Link])
eby certify that none of the Directors on the Board of the Company as
from being appointed or continuing as Directors of companies by the
Authority:

onsibility of the management of the Company. Our responsibility is to

to the future viability of the Company nor of the efficiency or
 DIRECTORS’ REPORT
Dear Member(s),
The Board of Directors of your Company take pleasure in presenting the Twenty Sixth (26th) Annual Report on the busin
(India) Limited (the Company) together with the Audited Standalone & Consolidated Financial Statements and the Audito
year ended March 31, 2021.

Results of Operations
The results of operations for the year under review are given below:

Standalone Consolidated

Particulars FY 2021 FY 2020 FY 2021 FY 2020

1. Net Revenue 10,985.97 12,726.95 11,201.22 13,119.30

2. Other Income 1,187.71 876.18 1,493.96 1,044.65

3. Total Income (1+2) 12,173.68 13,603.13 12,695.18 14,163.95

Expenditure:

a) Network and other charges 252.23 234.03 284.87 271.90

b) Employees Cost 5,489.92 5,395.72 5,673.54 5,845.95

c) Advertising and Promotion Cost 1,817.15 2,044.21 1,826.06 2,062.87

d) Depreciation/Amortization 436.36 413.78 499.14 477.41

e) Cost of Material Consumed - - - 21.05

f) Administration & other Expenditure 651.71 1,025.68 683.07 1,191.30

4. Total expenditure 8,647.37 9,113.42 8,966.28 9,870.48

5. EBITDA(3-4+3d) 3,962.67 4,903.49 4,228.04 4,770.88

6. Finance Cost 56.98 66.89 58.23 81.97

7. Profit before tax and exceptional items (3-4-6) 3,469.33 4,422.82 3,670.67 4,211.50

8. Exceptional Item 32.24 1,232.95 (14,341.16) (1,821.06)

9. Net Profit before tax (7-8) 3,437.09 3,189.87 18,011.83 6,032.56

10. Tax Expense 727.71 1,133.22 1,805.06 1,199.86

11. Net Profit after tax (9-10) 2,709.38 2,056.65 16,206.77 4,832.70

12. Share of Profit/(Loss) Joint Ventures/Associate - - (2,118.73) (7,290.18)

13. Share of Minority interest in the (profit)/ loss of Subsidiary - - (17.23) 81.25
Companies
14. Other Comprehensive Income (including share of
profit/(loss) of Joint Ventures/Associate-Net of Tax 74.00 (48.54) 50.06 (29.11)

15. Total Comprehensive Income (11+12+13+14) 2,783.38 2,008.11 14,120.87 (2,405.34)

h) Annual Report on the business and operations of Info Edge
ial Statements and the Auditors Report thereon for the financial

(` in Million)
lidated

FY 2020

13,119.30

1,044.65

14,163.95

271.90

5,845.95

2,062.87

477.41

21.05

1,191.30

9,870.48

4,770.88

81.97

4,211.50

(1,821.06)

6,032.56

1,199.86

4,832.70

(7,290.18)

81.25

(29.11)

(2,405.34)
 1. Financial Review
STANDALONE FINANCIAL STATEMENTS
The annual Audited Standalone Financial Statements for the financial year ended March 31, 2021 have been prepared in
(Indian Accounting Standards) Rules, 2015 (Ind-AS) prescribed under Section 133 of the Companies Act, 2013 (the Act)
practices and policies to the extent applicable.
Your Company derives its revenue from recruitment, real estate, matrimonial and education classifieds and related servic
The outbreak of Coronavirus (COVID-19) pandemic globally is causing a slowdown of economic activity. In many countri
cease or limit their operations for long or indefinite period. Measures taken to contain the spread of the virus, including t
distancing and closures of non-essential services have triggered disruptions to businesses worldwide, resulting in an econ
pertaining to future operations.
Under these future uncertainties because of the pandemic, the Revenue from operations for FY 2021 was down by 13.68
`12,726.95 million for the FY 2020, on account of COVID-19 induced economic slowdown during the year on our busines
The total income of the Company stood at `12,173.68 million down by 10.51% for FY 2021 from `13,603.13 million for F
Company contributed `1,187.71 million to the total income for FY 2021.
The total expenses for the year stood at `8,704.35 million down by 5.18% for the FY 2021 from `9,180.31 million for the
During the year under review, there was a exceptional loss item of `32.24 million on account of provision for diminution
in Startup Investments (Holding) Limited.
Operating EBITDA, for the year, was down by 31.10% over previous year and stood at `2,774.96 million in comparison w
Profit before tax (PBT) from ordinary activities (before exceptional items) is `3,469.33 million in FY 2021 as against `4,42
DIVIDEND
Your Company has been maintaining a consistent & impressive track record of dividend payments for past many years, in
policy. For the year under review, the Board of Directors of the Company declared an Interim Dividend as per following d

Rate of Dividend per share

Type of Dividend Date of Declaration Record Date (face value `10 per share) %

Interim Dividend June 11, 2021 June 22, 2021 `8/- 80

Pursuant to the amendments introduced in the Income-tax Act, 1961 vide Finance Act, 2020, w.e.f. April 1, 2020, Divide
used to be payable by the Company has been abolished, and instead, the concerned shareholder is liable to pay tax on h
thus required to comply with the provisions relating to tax deduction at source (TDS) under the Income-tax Act, 1961 in
after such date. Accordingly, the Company has deducted tax, as applicable, on interim dividend declared by the Board of
net dividend to the shareholder.
The Register of Members and Share Transfer Books of the Company shall remain closed from August 21, 2021 to August
Annual General Meeting. The Annual General Meeting is scheduled to be held on August 27, 2021.
TRANSFER TO RESERVES
The Company did not transfer any amount to reserves during the year.
SHARE CAPITAL
During the year under review, the Company issued and allotted 6,067,961 Equity Shares at a price of `3,090/- per Equity
`3,080/- per Equity Share aggregating to about `18,750 million pursuant to a Qualified Institutional Placement, on Augus
In addition, the Company issued & allotted 200,000 Equity Shares on February 26, 2021 at an issue price of `10 each to
Plan Trust. Pursuant to the above allotments, the issued & paid-up Equity Share Capital of the Company increased to & s
`1,287,841,200/- divided into 128,784,120 equity shares of `10/- each.
The fresh shares allotted as aforesaid have been duly listed on the Stock Exchanges.
The Company has not issued shares with differential voting rights or sweat equity shares during the financial year 2020-2
LISTING OF SHARES
The Company’s shares are listed on BSE Ltd. (BSE) & National Stock Exchange of India Ltd. (NSE) with effect from Novem
offering (IPO). The annual listing fees for the FY 2021 to BSE and NSE has been paid.
FIXED DEPOSITS
During the year under review, your Company has not invited or accepted any Deposits from the public/members pursuan
and 76 of the Act read together with the Companies (Acceptance of Deposits) Rules, 2014.
2. Operations Review
The Company is primarily in the business of operating multiple internet based services through its various web portals an
operates in four service verticals - in recruitment solutions through its brands [Link], [Link], [Link], ambit
[Link]; in real estate services through its brand [Link]; in matrimonial services through its brand jeevansaath
through its brand [Link]. The Board of Directors of the Company examines the Company’s performance both from
perspective and has accordingly identified its business segments as the primary segments to monitor their respective per
therefore the same have been considered as reportable segments under Ind-AS 108 on Segment Reporting. The reportab
Solutions”, “99acres” and the “Others” segment which comprises Jeevansathi and Shiksha service verticals since they ind
criteria for reportable segment as per the said Accounting Standard.
RECRUITMENT SOLUTIONS
The Company’s flagship brand in the recruitment solutions space is [Link]. It offers job posting and database search
recruitment consultants, and job searching, applying and candidate profiling services to jobseekers. Besides [Link] t
Company operates in the recruitment segment - [Link], [Link], [Link], [Link], hi
[Link], [Link]. Recruitment Solutions, which is the Company’s core business showed resilience and delivered
and profits despite widespread disruptions to the economic activities caused by COVID-19 Pandemic. The flagship portal
continue to remain the primary source of revenue and cash generation for the Company.
Recruitment Solutions has two major sources of revenue: (i) from recruiters, which accounts for around 89.90% of reven
relate to all job seeker advisory services.
During the year under review, Recruitment Solutions segment underperformed by 14.98% from `9,067.60 million in FY 2
2021. Operating EBITDA from Recruitment Solutions in FY 2021 was
`4,269.03 million as compared to `5,041.16 million in FY 2020.
[Link] derives its revenues from property listings, builders’ and brokers’ branding and visibility through
respective Board of Directors. However, for the purpose of consolidation of financial statements of the Company as regar
Educational Gateway Private Limited, Bizcrum Infotech Private Limited, Medcords Healthcare Solutions Private Limited, S
Llama Logisol Private Limited and 4B Networks Private Limited, unaudited financial statements have been considered.
Your Company, on a consolidated basis, achieved net revenue of `11,201.22 million during the year under review as aga
previous financial year, down by 14.62% year on year. The total consolidated income for the year is `12,695.18 million a
FY 2020.
Operating EBITDA, for the year, stood at `2,734.08 million in comparison with `3,726.23 million in FY 2020. Total Compr
reported to be `14,120.87 million in comparison to Total Comprehensive loss of `2,405.34 million in FY 2020.
DETAILS OF SUBSIDIARIES/JOINT VENTURE (ASSOCIATE) COMPANIES
As on March 31, 2021 the Company has 12 subsidiaries. During the year under review and the period between the end o
this report following changes have taken place in status of subsidiary and Joint Venture companies of the Company:
Zwayam Digital Pvt. Ltd. (Zwayam)
The Company acquired 100% of the Share Capital of Zwayam, on a fully diluted basis, for an aggregate cash considerati
end of the financial year of the Company and before the date of this Report. Zwayam is engaged in the business of provi
recruitment process automation solutions to its corporate customers.
The said acquisition would help the Company to further consolidate its position in the online recruitment solutions segme
[Link] already has an established leadership position. Zwayam revenue for FY 2021 stood at about `64.70 million.
Axilly Labs Pvt. Ltd. (DoSelect)
The Company further approved the acquisition of 100% of the Share Capital of DoSelect for an aggregate cash considera
date of this report. DoSelect is engaged in the business of providing technical assessment services to its clients for recrui
delivers these
services via its technical assessment platform ‘[Link]’. This acquisition would help the Company to offer a new var
brand [Link]. DoSelect revenue for FY 2021 stood at about
`42.30 million.
During the year, the Board of Directors of your Company reviewed the affairs of the subsidiaries. A statement containing
statements of the subsidiaries/joint ventures (associate) companies in the prescribed format AOC-I is given as Annexure-
provides the details of performance and financial position of each of the subsidiaries/joint ventures (associate) companie
overall performance of the Company.
The developments in the operations/performance of each of the subsidiaries & joint ventures (associate) companies inclu
Statements are presented below:
1. Startup Investments (Holding) Ltd. (SIHL), is a wholly-owned subsidiary company which is engaged in making
During the year, SIHL made following investments by way of subscription/purchase of shares/debentures:
• 2,780 cumulative, non-redeemable, mandatorily and fully convertible preference shares through a mix of primary and
shares of Bizcrum Infotech Pvt. Ltd. (“ShoeKonnect” or “Bijnis”) for an aggregate consideration of about `102.93 million.
• 10 equity shares and 7,259 compulsorily convertible preference shares of Agstack Technologies Pvt. Ltd. (“Gramopho
of about `55 million.
• 5,408 compulsorily convertible preference shares of LQ Global Services Pvt. Ltd. (“LegitQuest”) for an aggregate cons
• 779 equity shares of `10 each and 1,740 compulsorily convertible cumulative preference shares of Llama
Logisol Pvt. Ltd. (“Shipsy”) for an aggregate consideration of about `221.41 million.
SIHL also advanced certain inter-corporate loans during the year to 4B Networks Pvt. Ltd. (`5 million), Bizcrum Infotech
Technologies Pvt. Ltd. (`15 million). All loans given were repaid during the year by respective companies. Further, SIHL
company namely NewInc Internet Services Pvt. Ltd. by way of acquisition of 25,000-0.0001% Compulsorily Convertible D
each.
It reported total comprehensive income of `2.54 million in FY 2021 as compared to loss of `875.80 million in FY 2020.
2. Diphda Internet Services Ltd. (Diphda), had the total loss of `0.02 million in FY 2021 as compared to loss of
`27.71 million in FY 2020.
Diphda holds 4.59% stake in PB Fintech Limited (formerly known as Etechaces Marketing & Consulting Pvt. Ltd.) (“Policy
diluted basis.
3. Makesense Technologies Ltd. (MTL), had no revenue from operations during the year. The total income of MTL
in FY 2021 as compared to `0.81 million in FY 2020.
The Company owns 50.01% of MTL while MTL holds about 14.56% in Policybazaar.
During the current financial year, MTL and PB Fintech Limited approved a Scheme of Amalgamation between MTL (“Tran
Limited (“Transferee Company”) and their respective shareholders, pursuant to the provisions of Sections 230 to 232 and
Companies Act, 2013, including rules made thereunder (“Scheme”). The said Scheme of Amalgamation provides for the a
Company with the Transferee Company to derive the following benefits:
a. streamlining of the corporate structure;
b. pooling of resources of the Transferor Company with the resources of the Transferee Company;
c. significant reduction in the multiplicity of legal and regulatory compliances required at present to be carried out by b
the Transferee Company;
d. rationalization of costs, time and efforts by eliminating multiple record keeping, administrative functions and consolid
entity rationalization; and
e. reduction of administrative responsibilities, multiplicity of records and legal as well as regulatory compliances.
The Joint Application before the Hon’ble National Company Law Tribunal (Hon’ble Tribunal), Chandigarh Bench, under th
the Companies Act, 2013 has been filed on May 28, 2021.
4. Naukri Internet Services Ltd. (NISL), had no revenue during the year. The total profit of NISL on account of ot
2021 as compared to profit of `89.88 million in FY 2020.
5. Allcheckdeals India Pvt. Ltd. (ACD), provides brokerage services in the real estate sector in India. The total inco
compared to `0.48 million in FY 2020 on account of other Income.
ACD, during the year under review, issued and allotted 1,600,000, 0.0001% Compulsorily Convertible Debentures (CCDs
`160 million.
During the year, ACD acquired 1,747 Compulsorily Convertible Preference Shares of 4B Networks Private Ltd. for aggrega
million.
6. NewInc Internet Services Pvt. Ltd. (NewInc), a wholly-owned subsidiary of ACD, is engaged in the business o
internet, computer and electronics data processing services. During the year under review, the total income of NewInc w
`0.02 million in FY 2020.
During the year under review, NewInc issued and allotted 25,000, 0.0001% Compulsorily Convertible Debentures (CCDs)
million.
7. Interactive Visual Solutions Pvt. Ltd. (Interactive), is the owner of a proprietary software which enables a hig
a proposed or existing real estate development to be viewed online by customers.
The total income of Interactive stood at `0.03 million in FY 2021 as compared to Nil in FY 2020.
8. Jeevansathi Internet Services Pvt. Ltd. (JISPL), owns & holds the domain names & related trademarks of the
review, it had net revenue of `0.1 million, similar to `0.1 million revenue during the previous financial year. The total inc
2021 as against
`0.11 million in FY 2020.
9. Smartweb Internet Services Ltd. (SMISL), is a company incorporated for the purpose of carrying on the busine
services and to act as investment advisor, financial consultant, management consultant, investment manager and/or spo
fund(s).
SMISL acts as an Investment manager to Alternative Investment Fund (AIF) registered with SEBI, named as Info Edge V
Category-II AIF under the SEBI (Alternative Investment Funds) Regulations, 2012, for which Beacon Trusteeship Limited
SMISL had the total income of `80.53 million in FY 2021 as compared to `23.16 million in FY 2020.
10. Startup Internet Services Ltd. (SISL), is a wholly owned subsidiary of the Company, incorporated for the purpo
of internet services. It had the total income of `15.64 million in FY 2021 as compared to `2.14 million in FY 2020.
SISL also advanced inter-corporate loan of `60 million to Printo Document Service Pvt. Ltd. during FY 2021 which remain
11. Highorbit Careers Pvt. Ltd. (Highorbit/[Link]), became wholly owned subsidiary of the Company in FY
100% share capital of [Link] by the Company.
The Board in its meeting held on November 10, 2020 approved the Scheme of Amalgamation with Highorbit and filed a J
National Company Law Tribunal (Hon’ble Tribunal), Principal Bench, New Delhi under the provisions of section 230 & 232
Hon’ble Tribunal pursuant to the Order dated February 10, 2021, in the above referred Joint Application, dispensed with
meetings of Equity Shareholders, Secured Creditors & Unsecured Creditors of [Link]. Further, the Hon’ble Tribunal
Equity Shareholders, Secured Creditors and Un-secured Creditors of Info Edge (India) Limited to be convened and held t
Monday, April 12, 2021. All the meetings were duly held under the supervision of court appointed chairman, alternate ch
resolutions for the proposed scheme of amalgamation were duly passed in respective meetings by the requisite majority.
Joint Petition was also filed with the Hon’ble National Company Law Tribunal, Principal Bench, New Delhi for obtaining sa
Amalgamation of Highorbit Careers Pvt. Ltd with Info Edge (India) Ltd.
The matter w.r.t. second motion Joint Petition was allowed by the Hon’ble Tribunal on May 13, 2021. Requisite directions
Order on such second motion Joint Petition has been duly complied with by the Company. Final order of the Hon’ble Trib
During the year under review, it had net revenue of `216.44 million, as compared to `195.17 million revenue during the
income stood at `218.60 million in FY 2021 as against `196.81 million in FY 2020.
12. Redstart Labs (India) Ltd. (Redstart), was incorporated as a wholly-owned subsidiary of the Company on July
types of Internet services, development of software, consultancy, technical support for consumer companies, internet or
services in the area of information technology and product development.
Redstart, during the year, issued and allotted 1,500,000, 0.0001% Compulsorily Convertible Debentures (CCDs) of `100
During the year under review, the Company through its wholly-owned subsidiary, SISL extended a loan of `60 million t
The Company has invested aggregate amount of about `96.38 million for a stake of 15.76% on fully converted and dilut
Shop Kirana E Trading Pvt. Ltd. (Shopkirana)
Shopkirana is engaged in the business of developing a B2B e-Commerce platform for ordering, delivery, payments and re
various stakeholders in grocery/FMCG supply chain. Shopkirana helps retailers with simple and efficient M-distribution pla
competitive prices, quick delivery and single sourcing channel for retailers while brands have visibility and direct connect
product launch.
The Company has invested aggregate amount of `603.51 million for a stake of 25.36% on fully converted and diluted ba
Greytip Software Pvt. Ltd. (Greytip)
Greytip is an HR and Payroll SaaS company focused on serving SME customers in India and abroad. Their software soluti
employee information management, leave and attendance management, payroll, expense claims, and more. They enable
transformation by streamlining HR operations, increasing productivity, and by enhancing employee experience.
The Company has invested aggregate amount of about `350 million for a stake of 21.78% on a fully converted and dilut
LQ Global Services Pvt. Ltd. (LegitQuest)
LegitQuest is SaaS product at the intersection of Technology & Legal utilizing Machine Learning, Modern Search algorithm
professionals. It is a Legal—Tech venture run by versatile team of techsavvy attorneys, engineers and designers who aim
for its end users.
During the year under review, the Company through its wholly owned subsidiary further invested an amount of
`25 million in LegitQuest. The Company has invested aggregate amount of `40 million for a stake of 21.45% on fully con
Metis Eduventures Pvt. Ltd. (Adda247)
Adda247 is an online government jobs preparation platform. It is India’s leading education—technology company that he
government jobs via its multiple platforms [Link], sscadda. com, Adda247 mobile app, Adda247 Youtube cha
Power.
The Company has invested about `280 million in Adda247 for a stake of 16.97% on a fully converted and diluted basis.
Terralytics Analysis Pvt. Ltd. (Terralytics)
Terralytics is engaged in the business of developing real estate intelligence and analytics platform for sale to banks, deve
diligence, information and other purposes.
The Company has invested about `50 million in Terralytics for a stake of 20% on a fully converted and diluted basis.
Llama Logisol Pvt. Ltd. (Shipsy)
Shipsy’s vision is to digitalize the entire logistics ecosystem. It has recently launched the platform for Exporters and Impo
Price Procurement, Shipment Execution and end to end container tracking. The product is designed to empower exporter
operations and bring about significant time and cost savings.
During the year under review, the Company through its wholly owned subsidiary invested an amount of `221.41 million.
aggregate amount of `271.40 million for a stake of 22.45 % on fully converted and diluted basis.
Sunrise Mentors Pvt. Ltd. (Sunrise)
Sunrise is engaged in the business of providing online education and operates an e-learning platform - CodingNinjas.
The Company has invested about `370.97 million in Sunrise for a stake of 25% on a fully converted and diluted basis.4B
PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTSDuring the FY 2021, your Company invested (inc
3. Corporate GovernanceYour Company always places a major thrust on managing its affairs with diligence, transparenc
Terms of Reference of RMC includes Cyber [Link] FINANCIAL CONTROLSYour Company has put in
Mr. Gupta has confirmed his eligibility and willingness to continue in the office of Non-Executive, Independent Directo
Some of the performance indicators based on which the evaluation takes place are - attendance in the meetings, quality
to provide leadership and work as team player. In addition, few criteria for independent directors include commitment to
all shareholders
and contribution in implementation of best governance practices. Performance criteria for Whole-time Directors includes
Company, new ideas /planning and compliances with all policies of the Company.
The Board of Directors has expressed their satisfaction to the overall evaluation process.
SEPARATE MEETING OF INDEPENDENT DIRECTORS
Pursuant to Schedule IV to the Act and the Listing Regulations, one meeting of Independent Directors was held during th
without the attendance of Executive Directors and members of Management.
In addition, the Company encourages regular separate meetings of its Independent Directors to update them on all busin
initiatives. At such meetings, the Executive Directors and other members of the Management make presentations on rele
KEY MANAGERIAL PERSONNEL
The following persons have been designated as Key Managerial Personnel of the Company pursuant to Section 2(51) and
the Rules framed thereunder:
1. Mr. Hitesh Oberoi, Managing Director & CEO.
2. Mr. Chintan Thakkar, Whole-time Director & CFO.
3. Mr. Murlee Manohar Jain, SVP- Secretarial & Company Secretary.
4. Auditors and Auditor’s Report
STATUTORY AUDITORS
In terms of the provisions of Section 139 of the Companies Act, 2013, M/s. S.R. Batliboi & Associates LLP, Chartered Acc
pursuant to your approval, were appointed as the Statutory Auditors of the Company in the 22nd Annual General Meeting
the audit of the financial statements of the Company for FY 2018 to FY 2022.
The notes on financial statements referred to in the Auditors’ Report are self-explanatory and do not call for any further c
does not contain any qualification, reservation or adverse remark or disclaimer.
SECRETARIAL AUDITORS
Pursuant to the provisions of Section 204 of the Act read with Companies (Appointment and Remuneration of Manageria
of Directors had appointed M/s. Chandrasekaran & Associates, Company Secretaries as the Secretarial Auditors of the Co
Audit of the Company for FY ended March 31, 2021.
The Secretarial Audit Report is annexed herewith as Annexure III. The Secretarial Audit Report does not contain any qua
remark or disclaimer.
INTERNAL AUDITORS
M/s. T.R. Chadha & Co LLP, Chartered Accountants perform the duties of internal auditors of the Company and their repo
Committee quarterly.
MAINTAINANCE OF COST RECORDS
The provisions of maintenance of Cost Records as specified by the Central Government under sub-section (1) of Section
not applicable on the Company.
REPORTING OF FRAUDS BY AUDITORS
During the year under review, none of the auditors, viz. Statutory Auditors and Secretarial Auditors have reported to the
143(12) of the Act, any instances of fraud committed against the Company by its officers or employees, the details of wh
the Board’s Report.
d March 31, 2021 have been prepared in accordance with the Companies
33 of the Companies Act, 2013 (the Act) and other recognized accounting

d education classifieds and related services and other income.

wn of economic activity. In many countries, businesses are being forced to
ntain the spread of the virus, including travel bans, quarantines, social
usinesses worldwide, resulting in an economic slowdown and uncertainties

erations for FY 2021 was down by 13.68% to `10,985.97 million from

slowdown during the year on our businesses.
or FY 2021 from `13,603.13 million for FY [Link] other income of the

e FY 2021 from `9,180.31 million for the FY 2020.

n on account of provision for diminution in the carrying value of investments

ood at `2,774.96 million in comparison with `4,027.31 million in FY 2020.

69.33 million in FY 2021 as against `4,422.82 million in FY 2020.

ividend payments for past many years, in line with its approved dividend
ed an Interim Dividend as per following details:

Total Payout (`
Mn)

1030.27

ce Act, 2020, w.e.f. April 1, 2020, Dividend Distribution Tax (DDT) which
rned shareholder is liable to pay tax on his dividend income. The Company is
TDS) under the Income-tax Act, 1961 in respect of dividend paid by it on or
nterim dividend declared by the Board of Directors as aforesaid, and paid the

n closed from August 21, 2021 to August 27, 2021 for the purpose of the
August 27, 2021.
y Shares at a price of `3,090/- per Equity Share, including a premium of
ualified Institutional Placement, on August 8, 2020.
6, 2021 at an issue price of `10 each to Info Edge Employees Stock Option
Capital of the Company increased to & stood, as on March 31, 2021, at

ges.
y shares during the financial year 2020-21.

f India Ltd. (NSE) with effect from November 21, 2006, post its initial public
paid.

posits from the public/members pursuant to the provisions of Sections 73

ules, 2014.

rvices through its various web portals and mobile applications. It currently
[Link], [Link], [Link], [Link], [Link],
l services through its brand [Link] and in education services
s the Company’s performance both from a business & geographical
segments to monitor their respective performance on regular basis and
108 on Segment Reporting. The reportable segments represent “Recruitment
d Shiksha service verticals since they individually do not meet the qualifying

It offers job posting and database search services to companies and

vices to jobseekers. Besides [Link] there are other brands which your
[Link], [Link], [Link], [Link],
usiness showed resilience and delivered stable results in terms of revenues
COVID-19 Pandemic. The flagship portal of the Company- [Link],
ompany.
ch accounts for around 89.90% of revenues and (ii) from job seekers, which

y 14.98% from `9,067.60 million in FY 2020 to `7,709.63 million in FY

brokers’ branding and visibility through microsites, home page links and banners, servicing real estate developers, builders and brokers. With a share of a
 cial statements of the Company as regards the investment in International
s Healthcare Solutions Private Limited, Shopkirana E Trading Private Limited,
ial statements have been considered.
lion during the year under review as against `13,119.30 million during the
come for the year is `12,695.18 million as compared to `14,163.95 million in

3,726.23 million in FY 2020. Total Comprehensive Income, in FY 2021, is

`2,405.34 million in FY 2020.
S
eview and the period between the end of the financial year and the date of
Venture companies of the Company:

basis, for an aggregate cash consideration of about `610 million after the
ayam is engaged in the business of providing SaaS based end to end

n the online recruitment solutions segment where its flagship brand

FY 2021 stood at about `64.70 million.

DoSelect for an aggregate cash consideration of about `210 million as on the

sessment services to its clients for recruitment and learning purposes. It

uld help the Company to offer a new variety of services under its flagship

the subsidiaries. A statement containing the salient features of the financial

ibed format AOC-I is given as Annexure-I to this report. The statement also
ries/joint ventures (associate) companies and their contribution to the

oint ventures (associate) companies included in the Consolidated Financial

ry company which is engaged in making investments in start-up companies.

ase of shares/debentures:
nce shares through a mix of primary and secondary acquisition of such
e consideration of about `102.93 million.
tack Technologies Pvt. Ltd. (“Gramophone”) for an aggregate consideration

td. (“LegitQuest”) for an aggregate consideration of about `25 million.

preference shares of Llama
on.
 Pvt. Ltd. (`5 million), Bizcrum Infotech Pvt. Ltd. (`20 million) and Agstack
by respective companies. Further, SIHL invested `2.5 million in its group
000-0.0001% Compulsorily Convertible Debentures at a price of `100/-

to loss of `875.80 million in FY 2020.

ion in FY 2021 as compared to loss of

Marketing & Consulting Pvt. Ltd.) (“Policybazaar”) on fully converted and

during the year. The total income of MTL from other sources is `0.90 million

aar.
me of Amalgamation between MTL (“Transferor Company”) and PB Fintech
he provisions of Sections 230 to 232 and other applicable provisions of the
heme of Amalgamation provides for the amalgamation of the Transferor

ansferee Company;
equired at present to be carried out by both the Transferor Company and

ng, administrative functions and consolidation of financials through legal

s well as regulatory compliances.

e Tribunal), Chandigarh Bench, under the provisions of section 230 & 232 of

The total profit of NISL on account of other income is `7.47 million in FY

real estate sector in India. The total income is `2.35 million in FY 2021 as

mpulsorily Convertible Debentures (CCDs) of `100/- each to the Company for

s of 4B Networks Private Ltd. for aggregate consideration of about `90.02

ary of ACD, is engaged in the business of providing all kinds and types of
der review, the total income of NewInc was `0.01 million as compared to

mpulsorily Convertible Debentures (CCDs) of `100/- each to the SIHL for `2.5
proprietary software which enables a high quality virtual video/3D image of
s.
o Nil in FY 2020.
main names & related trademarks of the Company. During the year under
the previous financial year. The total income stood at ` 0.11 million in FY

for the purpose of carrying on the business of providing all kinds of internet
sultant, investment manager and/or sponsor of alternative investment

stered with SEBI, named as Info Edge Venture Fund (IEVF) a Trust, as a
2, for which Beacon Trusteeship Limited is the Trustee.
million in FY 2020.
he Company, incorporated for the purpose of providing all kinds and types
pared to `2.14 million in FY 2020.
ce Pvt. Ltd. during FY 2021 which remained outstanding as at the year end.
owned subsidiary of the Company in FY 2020, consequent to acquisition of

malgamation with Highorbit and filed a Joint Application before the Hon’ble
nder the provisions of section 230 & 232 of the Companies Act, 2013.
ferred Joint Application, dispensed with the requirement of holding the
[Link]. Further, the Hon’ble Tribunal directed separate meetings of
ndia) Limited to be convened and held through Video Conferencing, on
f court appointed chairman, alternate chairman and the scrutinizer and the
ctive meetings by the requisite majority. Subsequently, the second motion
ncipal Bench, New Delhi for obtaining sanction to the Scheme of

nal on May 13, 2021. Requisite directions of the Hon’ble Tribunal through its
Company. Final order of the Hon’ble Tribunal is awaited.
d to `195.17 million revenue during the previous financial year. The total
0.
wned subsidiary of the Company on July 7, 2020, for providing all kinds and
ort for consumer companies, internet or SAAS providers, and any other
Convertible Debentures (CCDs) of `100 to the Company for `150 million. Further, Redstart made following investments by way of subscription/purchase
y, SISL extended a loan of `60 million to Printo. The Company as on March 31, 2021 holds stake of 27.51% on a fully converted and diluted [Link]
e of 15.76% on fully converted and diluted basis.

m for ordering, delivery, payments and related products/services among

ith simple and efficient M-distribution platform by ensuring the most
brands have visibility and direct connect to retailers for promotions or

5.36% on fully converted and diluted basis.

n India and abroad. Their software solutions cover all areas, including
, expense claims, and more. They enable companies in their digital
hancing employee experience.
of 21.78% on a fully converted and diluted basis.

achine Learning, Modern Search algorithm & Data Analytic for the legal
orneys, engineers and designers who aim to make the practice of law simpler

further invested an amount of

million for a stake of 21.45% on fully converted and diluted basis.

education—technology company that helps students prepare for several

a247 mobile app, Adda247 Youtube channel, [Link] and Career

on a fully converted and diluted basis.

analytics platform for sale to banks, developers, consulting firms, etc. for

n a fully converted and diluted basis.

hed the platform for Exporters and Importers to manage their vendors for
product is designed to empower exporters and importers to digitalize their

invested an amount of `221.41 million. The Company has invested

and diluted basis.

n e-learning platform - CodingNinjas.

on a fully converted and diluted basis.4B Networks Pvt. Ltd. (Broker Network)Broker Network enables real estate developers and brokers to communicat
e FY 2021, your Company invested (including outstanding inter-corporate loans), directly or indirectly, about `580.32 million into the aforesaid Investee c
ing its affairs with diligence, transparency, responsibility and accountability thereby upholding the important dictum that an organization’s corporate gove
L CONTROLSYour Company has put in place adequate internal financial controls with reference to the financial statements. During the year, such control
of Non-Executive, Independent Director of the Company, if confirmed by the members at the ensuing [Link]. Bala C Deshpande (DIN: 00020130) wa
are - attendance in the meetings, quality of preparation/participation, ability
pendent directors include commitment to protecting/enhancing interests of

riteria for Whole-time Directors includes contribution to the growth of the

.
process.

ndependent Directors was held during the year i.e. on June 22, 2020

ent Directors to update them on all business-related issues and new

Management make presentations on relevant issues.

Company pursuant to Section 2(51) and Section 203 of the Act, read with

Batliboi & Associates LLP, Chartered Accountants (FRN:101049W/E300004),

pany in the 22nd Annual General Meeting of the Company for carrying out

lanatory and do not call for any further comments. The Auditors’ Report

ntment and Remuneration of Managerial Personnel) Rules, 2014, the Board

ries as the Secretarial Auditors of the Company to undertake Secretarial

al Audit Report does not contain any qualification, reservation or adverse

al auditors of the Company and their report is reviewed by the Audit

nment under sub-section (1) of Section 148 of the Companies Act, 2013 are

Secretarial Auditors have reported to the Audit Committee, under Section

s officers or employees, the details of which would need to be mentioned in
 5. Corporate S
For your Company, Corporate Social Responsibility (CSR) means the integration of social, environmental and economic concerns in its busines
Company’s business in a manner that meets or exceeds the ethical, legal, commercial and public expectations that society has of busine
Company, Info Edge, through its CSR initiatives, will continue to enhance value creation in the society through its services, conduct & i

The CSR Committee of the Company helps the Company to frame, monitor and execute the CSR activities of the Company. The Committee
them for effective discharge of the social responsibility of your Company. The CSR Policy of your Company outl
mechanism for undertaking socially useful programmes for welfare & sustainable development of the community at large as part of its duti
The CSR Committee also formulate and recommend to the Board of the Company, CSR annual action plan in pursuance to its Policy. The
given in the Corporate Governance Report wh

A snapshot of the geography-wise and sector-wise spread of the causes, entities and the kind of themes suppo
GEOGRAPHY-WISE ALLOCATION OF FUNDS

8%
Delhi NCR Rest of India

CSR PROJECTS FUNDED IN FY 2020-21

Info Edge’s CSR policy mainly focuses on supporting organizations that are making impactful interventions at various stage
employability spectrum.
The Annual Report on CSR activities in accordance with the Companies (Corporate Social Responsibility Policy) Rules, 201
Report.
BUSINESS RESPONSIBILITY REPORT
The Listing Regulations mandate, the top 1000 listed companies by market capitalization, to give Business Responsibility R
Report describing the initiatives taken by the Company from an Environmental, Social and Governance perspective (“ESG”)
Further, SEBI in its continued efforts to enhance disclosures on ESG standards, introduced new requirements for sustainab
The new reporting format named, Business Responsibility and Sustainability Report (“BRSR”), aims to establish links betwe
with its ESG performance. This will enable regulators, investors and allied stakeholders to obtain a fair estimate of overall b
sustainability (hitherto based on financial disclosures alone). SEBI has mandated that the BRSR
will be applicable to the top 1,000 listed entities (by market capitalization) for reporting on a voluntary basis for FY2021–22
FY2022–23.
The concept of Business Responsibility Report lays down 9 (nine) core principles which a listed company shall follow while
In terms of aforesaid Regulations, a separate section on “Business Responsibility Report” with a detailed compliance report
and is given in Annexure V.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO
The particulars relating to conservation of energy and technology absorption as required to be disclosed under the Act are
report. The particulars regarding foreign exchange earnings and expenditure are furnished below:
 5. Corporate So
For your Company, Corporate Social Responsibility (CSR) means the integration of social, environmental and economic concerns in its business
Company’s business in a manner that meets or exceeds the ethical, legal, commercial and public expectations that society has of business
Company, Info Edge, through its CSR initiatives, will continue to enhance value creation in the society through its services, conduct & init

The CSR Committee of the Company helps the Company to frame, monitor and execute the CSR activities of the Company. The Committee de
them for effective discharge of the social responsibility of your Company. The CSR Policy of your Company outline
mechanism for undertaking socially useful programmes for welfare & sustainable development of the community at large as part of its duties
The CSR Committee also formulate and recommend to the Board of the Company, CSR annual action plan in pursuance to its Policy. The co
given in the Corporate Governance Report whic

A snapshot of the geography-wise and sector-wise spread of the causes, entities and the kind of themes support
GEOGRAPHY-WISE ALLOCATION OF FUNDS S

10

35 65
% % 8%
Delhi NCR Rest of India

82
%

CSR PROJECTS FUNDED IN FY 2020-21

Info Edge’s CSR policy mainly focuses on supporting organizations that are making impactful interventions at various stages
employability spectrum.
The Annual Report on CSR activities in accordance with the Companies (Corporate Social Responsibility Policy) Rules, 2014 i
Report.
BUSINESS RESPONSIBILITY REPORT
The Listing Regulations mandate, the top 1000 listed companies by market capitalization, to give Business Responsibility Rep
Report describing the initiatives taken by the Company from an Environmental, Social and Governance perspective (“ESG”) in
Further, SEBI in its continued efforts to enhance disclosures on ESG standards, introduced new requirements for sustainabilit
The new reporting format named, Business Responsibility and Sustainability Report (“BRSR”), aims to establish links between
with its ESG performance. This will enable regulators, investors and allied stakeholders to obtain a fair estimate of overall bu
sustainability (hitherto based on financial disclosures alone). SEBI has mandated that the BRSR
will be applicable to the top 1,000 listed entities (by market capitalization) for reporting on a voluntary basis for FY2021–22 a
FY2022–23.
The concept of Business Responsibility Report lays down 9 (nine) core principles which a listed company shall follow while un
In terms of aforesaid Regulations, a separate section on “Business Responsibility Report” with a detailed compliance report fo
and is given in Annexure V.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO
The particulars relating to conservation of energy and technology absorption as required to be disclosed under the Act are pa
report. The particulars regarding foreign exchange earnings and expenditure are furnished below:
 5. Corporate Social Responsibility (CSR)
concerns in its business operations. CSR involves operating
at society has of businesses. In alignment with vision of the
s services, conduct & initiatives, so as to promote sustained
growth for the society.
mpany. The Committee defines the parameters and observes
y of your Company outlines the Company’s philosophy & the
large as part of its duties as a responsible corporate citizen.
ance to its Policy. The constitution of the CSR Committee is
Governance Report which forms part of this Annual Report.
CSR FUNDS ALLOCATED
e kind of themes supported by the Company is given below.
NDS SECTOR-WISE ALLOCATION OF FUNDS
%

E
d
u
c
a
t
entions at variousistages across the education and
o
lity Policy) Rules,n 2014 is set out as Annexure IV to this

L
siness Responsibility Report (“BR Report”) in their Annual
i
ce perspective (“ESG”) in the format specified by the SEBI.
v
uirements for sustainability reporting by listed companies.
e
to establish links between the financial results of a business
l
air estimate of overall business stability, growth and
i
h
ary basis for FY2021–22 and on a mandatory basis from
o
o
pany shall follow while undertaking its business operations.
d
ailed compliance report forms part of this Annual Report
C
NGS AND OUTGO O
osed under the Act V are part of Annexure VI to the Directors’
I
D
-
1
9

R
e
l
i
e
f
Particulars FY2021

Foreign exchange earnings

Revenue 787.68

Total inflow 787.68

Foreign exchange outflow

Internet & Server Charges 14.74

Advertising & Promotion Cost 11.00

Travel & conveyance -

Foreign Branch Expenses 192.26

Others 35.76

Total Outflow 253.76

Net Foreign exchange inflow 533.92

GREEN INITIATIVEThe Company has implemented the “Green Initiative” to enable electronic delivery of notice/docu
electronically. In case of any queries, shareholder may write either to the Company at investors@[Link] or to the R
 (` in Million)
FY2020

914.93

914.93

16.04

3.08

1.35

183.57

41.57

245.61

669.32

tive” to enable electronic delivery of notice/documents/ annual reports to [Link], in view of the COVID-19 pandemic, the Ministry of Corpo
e Company at investors@[Link] or to the RTA at aforesaid email id [Link] email address will help in better communication between t
 Remuneration of % increase in
Director/ KMP for remuneration in
FY 2021 the FY 2021
Name of Director Designation (` in million)

Mr. Kapil Kapoor Non-Executive Chairman 0.90 #

(18.18)
Mr. Sanjeev Bikhchandani Promoter, Executive Vice-Chairman 28.94* 12.39
Mr. Hitesh Oberoi Promoter, Managing Director & CEO 28.81 *
8.59
Mr. Chintan Thakkar Whole-time Director & CFO 23.62 *$
(0.13)
Mr. Saurabh Srivastava Non-Executive, Independent Director 2.05 #
(8.89)
Mr. Naresh Gupta Non-Executive, Independent Director 1.95 #
(12.56)
Ms. Bala C Deshpande Non-Executive, Independent Director 1.55 #
34.78
Mr. Sharad Malik Non-Executive, Independent Director 1.95 #
8.33
Mr. Ashish Gupta Non-Executive, Independent Director 1.50 #
11.11
Ms. Geeta Mathur Non-Executive, Independent Director 1.95 #
9.55
Mr. MM Jain Company Secretary 5.92 (1.82)
# The Non-Executive/Independent Directors are paid sitting fees & commission on the basis of their attendance at the Board/Committee Meetings. Any variat
Directors is on account of number of meetings held or attended during the year.
$ Remuneration of Mr. Chintan Thakkar in the table above does not include employee share based payment.
* The remuneration paid to the three Executive Directors of the Company last year did not include the amount of annual bonus/commission payable to them
year. The Board of Directors reviewed the performance of the Company regularly & accordingly approved the payment of such annual Bonus in December 202
Remuneration for FY 2021 includes the amount of such Bonus/commission for the year.

THE PERCENTAGE INCREASE IN THE MEDIAN REMUNERATION OF EMPLOYEES IN THE FINANCI

The percentage increase in the median remuneration of the employees of the Company during the financial year is 0.6%
THE NUMBER OF PERMANENT EMPLOYEES ON THE ROLLS OF THE COMPANY.
4283
AVERAGE PERCENTILE INCREASE ALREADY MADE IN THE SALARIES OF THE EMPLOYEES OTHER
PERSONNEL IN THE LAST FINANCIAL YEAR AND ITS COMPARISON WITH THE PERCENTILE INC
REMUNERATION AND JUSTIFICATION THEREOF AND POINT OUT IF THERE ARE ANY EXCEPTION
INCREASE IN MANAGERIAL REMUNERATION
There were no increments given to employees of the Company generally in FY 2021 except few employees in the Tech &
no increase in the managerial remuneration in FY2021.
AFFIRMATION THAT THE REMUNERATION IS AS PER THE REMUNERATION POLICY OF THE COM
It is hereby affirmed that the remuneration paid is as per the Remuneration Policy for Directors, Key Managerial Personn
EMPLOYEE STOCK OPTION PLAN
Our ESOP schemes help us share wealth with our employees and are part of a retention-oriented compensation program
objective of motivating key employees and retention while aligning their long-term career goals with that of the Compan
ESOP-2007 (MODIFIED IN JUNE 2009): This is a SEBI compliant ESOP scheme being used to grant stock base
since 2007. This was approved by passing a special resolution in the Extraordinary General Meeting (EGM) held in March
June 2009 through approval of shareholders by Postal Ballot by introducing Stock Appreciation Rights (SARs)/ Restricted
pricing of ESOP/SAR Grants.
ESOP-2015: This is a new Scheme introduced by the Company to provide equity-based incentives to Employees of the
under the Scheme may be in the form of ESOPs / SARs / other Share- based form of incentives. The Company shall issue
exercisable into equity shares of the Company. The scheme is currently used by the Company to make fresh ESOP/SAR g
 Ratio of
Remuneration of
each Director/ to
median
remuneration of
employees
1.42
45.72
45.51
37.31
3.24
3.08
2.45
3.08
2.37
3.08
9.35
endance at the Board/Committee Meetings. Any variation highlighted above in remuneration of these

ment.
amount of annual bonus/commission payable to them for FY 2020, as mentioned in Annual Report last
d the payment of such annual Bonus in December 2020 @ 85% of the proposed eligiblity amount.

OF EMPLOYEES IN THE FINANCIAL YEAR.

ompany during the financial year is 0.6% as compared to last year.
HE COMPANY.

ARIES OF THE EMPLOYEES OTHER THAN THE MANAGERIAL

SON WITH THE PERCENTILE INCREASE IN THE MANAGERIAL
UT IF THERE ARE ANY EXCEPTIONAL CIRCUMSTANCES FOR

2021 except few employees in the Tech & Product teams. Further, there was

UNERATION POLICY OF THE COMPANY

cy for Directors, Key Managerial Personnel and other Employees.

etention-oriented compensation program. They help us meet the dual

rm career goals with that of the Company.
P scheme being used to grant stock based compensation to our Associates
ary General Meeting (EGM) held in March 2007 which was further amended in
ck Appreciation Rights (SARs)/ Restricted Stock Units (RSUs) and flexible

uity-based incentives to Employees of the Company i.e. the Options granted

rm of incentives. The Company shall issue a maximum of 40 lac Options
the Company to make fresh ESOP/SAR grants.
The applicable Disclosures as stipulated under the SEBI Guidelines as on March 31, 2021 with regard to the Employees’ S
annexed with this report as Annexure VII.
A certificate from M/s. S.R. Batliboi & Associates LLP, Chartered Accountants (Firm Registration Number: 101049W/E300
implementation of the Company’s Employee Stock Option Scheme in line with SEBI (Share Based Employees Benefits) Re
the ensuing Annual General Meeting.
The shares to which Company’s ESOP Schemes relates are held by the Trustees on behalf of Info Edge Employees Stock
employees do not have any claim against the shares held by said ESOP Trust unless they are transferred to their respect
options vested in them. Thus, there are no shares in which employees hold beneficial ownership however the voting righ
in respect of which are exercised by someone other than such employees. The ESOP trust did not vote on any resolution
general meeting.
7. Directors’ Responsibility Statement
In accordance with the provisions of Section 134(3)(c) and 134(5) of the Act the Board of Directors confirms that:
a) in the preparation of the Annual Accounts, the applicable accounting standards have been followed along with proper
departures;
b) the Directors have selected such accounting policies and applied them consistently and made judgements and estima
so as to give a true and fair view of the state of affairs of the Company as at March 31, 2021 and of the profit of the Com
c) the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordanc
safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;
d) the Directors have prepared the annual accounts on a going concern basis;
e) the Directors have laid down internal financial controls to be followed by the Company and that such financial control
effectively;
f) the Directors have devised proper systems to ensure compliance with the provisions of all applicable laws and that su
operating effectively.
The Company has complied with the revised Secretarial Standards issued by the Institute of Company Secretaries of Indi
Directors and General Meetings.
APPRECIATION
Your Company has been able to operate efficiently because of the culture of professionalism, creativity, integrity and con
and areas as well as the efficient utilisation of the Company’s resources for sustainable and profitable growth.
We, hereby, wish to place on record our appreciation of the efficient and loyal services rendered by each and every emp
efforts, our consistent growth would not have been possible. Your Directors further wish to thank our investors, custome
partners, bankers and other stakeholders for their continued support & their confidence in the Company and its managem
continuous support.

Date: July 5, 2021 Place: Noida

 er the SEBI Guidelines as on March 31, 2021 with regard to the Employees’ Stock Option Scheme (ESOS) are

ates LLP, Chartered Accountants (Firm Registration Number: 101049W/E300004) with regards to the
Stock Option Scheme in line with SEBI (Share Based Employees Benefits) Regulations, 2014 would be placed in

mes relates are held by the Trustees on behalf of Info Edge Employees Stock Option Plan Trust. The individual
e shares held by said ESOP Trust unless they are transferred to their respective de-mat accounts upon exercise of
shares in which employees hold beneficial ownership however the voting rights
ne other than such employees. The ESOP trust did not vote on any resolution moved at the previous annual

ement
n 134(3)(c) and 134(5) of the Act the Board of Directors confirms that:
s, the applicable accounting standards have been followed along with proper explanation relating to material

ting policies and applied them consistently and made judgements and estimates that are reasonable and prudent
e of affairs of the Company as at March 31, 2021 and of the profit of the Company for that year;
icient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for
d for preventing and detecting fraud and other irregularities;
accounts on a going concern basis;
ancial controls to be followed by the Company and that such financial controls are adequate and were operating

ms to ensure compliance with the provisions of all applicable laws and that such systems were adequate and

d Secretarial Standards issued by the Institute of Company Secretaries of India on Meetings of the Board of

ciently because of the culture of professionalism, creativity, integrity and continuous improvement in all functions
of the Company’s resources for sustainable and profitable growth.
preciation of the efficient and loyal services rendered by each and every employee, without whose whole-hearted
ve been possible. Your Directors further wish to thank our investors, customers, visitors to our websites, business
r their continued support & their confidence in the Company and its management and look forward for their

For and on behalf of Board of Directors

Kapil Kapoor Chairman DIN: 00178966
 Form AOC-1
(Pursuant to first proviso to sub-section (3) of section 129 read with rule 5 of Companies (Accounts) Rules, 2014) Statement conta
subsidiaries/associate companies/joint ventures
Part “A”: Subsidiaries

Sl. No. 1 2 3 4 5 6
Name of Subsidiary Company Allcheckdeals Interactive Jeevansathi Naukri Internet Newinc Smartweb
India Pvt. Ltd. Visual Solutions Internet Services Ltd. Internet Internet
Pvt. Ltd. Services Pvt. Services Pvt. Services Ltd.
Ltd. Ltd.
Financial Year ending on March 31, 2021 March 31, 2021 March 31, 2021 March 31, 2021 March 31, 2021 March 31, 2021
Reporting Currency Indian Rupee Indian Rupee Indian Rupee Indian Rupee Indian Rupee Indian Rupee
Exchange Rate on the last day - - - - - -
of the financial year
Equity share capital 98.48 0.10 0.10 0.10 0.00* 0.50
Other equity 91.83 0.54 0.21 266.61 257.78 297.78
Total Assets 230.49 0.70 0.34 272.73 258.01 308.28
Total Liabilities 40.18 0.06 0.03 6.02 0.22 10.00
Investments (excluding 90.02 - - 80.53 - -
Investments made in
subsidiaries and controlled
trust)
Total Income 2.35 0.03 0.11 11.38 0.01 80.53
Profit/(Loss) before tax (0.29) (0.17) (0.01) 10.24 (7.28) 35.15
Provision for tax 0.17 - - 2.77 - 8.92
Profit/(Loss) after tax (0.46) (0.17) (0.01) 7.47 (7.28) 26.23
Other comprehensive Income - - - - - 2.36
Total Comprehensive Income (0.46) (0.17) (0.01) 7.47 (7.28) 28.59
Proposed Dividend - - - - - -
% of shareholding 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
* Below rounding off norms
s) Rules, 2014) Statement containing salient features of the financial statement of
s/joint ventures
ries

(` Mn)
7 8 9 10 11
Startup Startup Highorbit Diphda Internet Redstart Labs
Internet Investments Careers Pvt. Services Ltd. Pvt. Ltd.
Services Ltd. (Holding) Ltd. Ltd.

March 31, 2021 March 31, 2021 March 31, 2021 March 31, 2021 March 31, 2021
Indian Rupee Indian Rupee Indian Rupee Indian Rupee Indian Rupee
- - - - -

0.50 0.50 0.26 0.50 0.10

370.99 4,708.75 5.43 3,453.31 151.84
371.57 4,722.04 167.62 3,453.93 152.01
0.08 12.79 161.93 0.12 0.07
- 3,907.11 - 3,446.32 25.97

15.64 46.44 218.60 0.35 2.64

15.31 11.85 22.05 (0.02) 2.47
3.85 24.22 0.57 - 0.62
11.46 (12.37) 21.48 (0.02) 1.84
7.46 14.91 0.04 - -
18.91 2.54 21.52 (0.02) 1.84
- - - - -
100.00% 100.00% 100.00% 100.00% 100.00%
 Form AOC-1
Statement pursuant to Section 129 (3) of the Companies Act, 2013 related to Associate companies
Part “B”: Associate & Joint Ventures

Sl. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16
No.
Name of Joint Happily Vcare Un- Idea- Green Rare Mint Ki- Zomato Wish- NoPaper Interna- Agstack Make- Bizcrum Med-
Ventures/Associa Unmar- tech- nati clicks leaves Medi Bird nobe Limited book - Forms tional Technol sense Infotec cords
te ried nolo- on- Info- Con- a Tech- o (formerly Info- Solu- Educa- - ogies Technol- h Health-
Mar- gies line labs sumer Com- nolo- Soft- known as ser- tions tional Private ogies Private care
keting Pri- Pri- Privat Ser- pany gies ware Zomato vices Private Gatewa Limited Limited Limited Solu-
Private vate vate e vices Pri- Pri- Pri- Private Pvt Limited y tions
Limited Limit Limit Limit- Privat vate vate vate Limited Ltd* Private Private
- ed* - ed* ed* e Limit Limit Limit and Zom- Limited Limited
Limit- - ed* - ed* - ed* ato Media
ed* Private
Limited)
1 Latest audited March March Marc March March March March Marc March 31, March March March March March March March
Bal- ance Sheet 31, 31, h 31, 31, 31, 31, 31, h 31, 2021 31, 31, 2021 31, 31, 2021 31, 31, 31,
Date 2021 2021 2021 2021 2021 2021 2021 2021 2021 2021**** 2021 2021**** 2021****
2 Shares of
Associate
/Joint Ventures
held by the
company
No.** on the 13,945 186,418 793,909 12,841 81,188 608,311 12,165 6,785
year end of
Amount 130.68 11,942.53 310.71 162.10 198.05 1,703.82 256.93 78.70
Investment in
Associate/
Joint
Ventures#
Extend of 29.88% 20.65% 48.10% 39.88% 35.74% 50.01% 29.68% 15.76%
Holding %***
3 Description of Joint Joint Joint Join Join Joint Joint Joint Joint Join Joint Joint Joint Joint Joint Joint
how there is Venture Ven- Ven- t t Ven- Ven- Ven- Venture t Venture Venture Venture Ventur Venture Venture
significant ture ture Ven- Ven- ture ture ture Ven e
4 influence
Reason why the Consoli- ture ture Consoli- - Consoli- Consoli- Consoli- Consoli- Consoli- Consoli-
associate/joint dated dated ture dated dated dated dated dated dated
venture is not
consolidated
5 Total Equity/Net (166.52) 80,930.07 318.55 59.10 152.09 4,076.50 412.45 85.67
worth
attributable to
Shareholding as
per latest audited
Balance Sheet
6 Total (228.20) (8,222.79) (44.02) (26.79) (157.36) 685.69 (182.88) (86.14)
Comprehen- sive
Income (Loss)
forConsidered
i) the year in (76.22) (1,896.81) (21.17) (10.27) (55.85) 342.92 (65.09) (14.10)
Consolidation
ii) Not considered (151.98) - (6,325.98) (22.85) (16.52) (101.51) 342.77 (117.79) (72.04)
in
Consolidation
* Provision for impairment booked for full amount, hence ignored
** Number of shares are given on fully convertible basis
*** % shareholding is given on fully convertible basis
**** On the basis of Unaudited financials received # refer note no. 46 of Consolidated financials
elated to Associate companies and Joint Ventures
Ventures
(` Mn)
17 18 19 20 21 22 23 24 25 26

Printo Shop PB Metis Terra- Greytip LQ Llama Sunrise 4B

Docu- Kirana E Fintech Eduven- lytics Softwar Global Logisol Mentors Networks
ment Trading Private tures Anal- e Service Private Private Private
Ser- Private Limited Private ysis Private s Limite Limited Limited
vices Limited (formerly Limited Private Limited Private d
Private known as Limite Limited
Limite Etechace d
d s
Marketing
and
consultin
Marc g Private
March March 31, March Marc March March March 31, March March 31,
h 31, 31, Limited)
2021 31, h 31,31, 31, 2021**** 31, 2021****
2021 2021**** 2021 2021 2021 2021 2021

26,163 4,583 55,085 2,694 14,286 434,644 21,633 4,524 37,870 1,747
90.16 456.47 4,472.57 250.65 46.96 318.54 33.88 271.01 350.45 86.46

27.51% 25.36% 6.70% 16.97% 20.00% 21.78% 21.45% 22.45% 25.00% 12.26%

Joint Joint Associate Joint Joint Joint Joint Joint Joint Joint
Ventur Venture Venture Ventur Venture Venture Ventur Venture Ventur
e e e e
Consol- Consoli- Consoli Consoli- Consol- Consoli- Consoli- Consoli- Consoli- Consoli-
idated dated - dated dated idated dated dated dated dated dated

125.45 480.74 19,917.34 (733.52) 33.42 102.80 49.70 344.30 275.57 61.08

(87.55) (319.99) (1,532.79) (152.69) (12.89) (99.40) (22.36) (5.92) (82.64) (29.04)

(24.83) (87.28) (106.47) (25.04) (2.58) (19.57) (4.30) (2.02) (20.66) (3.56)

(62.72) (232.71) (1,426.32) (127.65) (10.31) (79.83) (18.06) (3.90) (61.98) (25.48)
 ANNEXURE II
Form No. AOC-2
(Pursuant to clause (h) of sub-section (3) of Section 134 of the Act and Rule 8(2) of the Companies (Accounts) Rules

Form for disclosure of particulars of contracts/arrangements entered into by the Company with related parties referred to in su
of the Companies Act, 2013 including certain arm’s length transactions under fourth proviso thereto:
1. Details of contracts or arrangements or transactions not at arm’s length basis:
(a) Name(s) of the related party and nature of relationship
(b) Nature of contracts/arrangements/transactions
(c) Duration of the contracts/arrangements/transactions
(d) Salient terms of the contracts or arrangements or transactions including the value, if any
(e) Justification for entering into such contracts or arrangements or transactions
(f) Date(s) of approval by the Board
(g) Amount paid as advances, if any
(h) Date on which the special resolution was passed in general meeting as required under first proviso to section
2. 188.
Details of material contracts or arrangements or transactions at arm’s length basis
(a) Name(s) of the related party and nature of relationship
(b) Nature of contracts/arrangements/transactions
(c) Duration of the contracts/arrangements/transactions
(d) Salient terms of the contracts or arrangements or transactions including the value, if any
(e) Justification for entering into such contracts or arrangements or transactions
(f) Date(s) of approval by the Board, if any
(g) Amount paid as advances, if any
(h) Date on which the special resolution was passed in general meeting as required under first proviso to section
188.
Details of Related Party Transactions i.e. transactions of the Company, with its Promoters, the Directors or the KMP, their relativ
Associate Companies/Joint Ventures of the Company etc. are present under Note no. 25 to Annual Accounts as part of the Annual
For and on behalf of th
Date: July 05, 2021
Place: Noida

ANNEXURE III
Form No. MR-3 Secretarial Audit Report
For the year ended March 31, 2021
[Pursuant to section 204(1) of the Companies Act, 2013 and rule No.9 of the Companies (Appointment and Remuneration Perso

To,
The Board of Directors
M/s Info Edge (India) Limited GF-12A, 94, Meghdoot Building, Nehru Place, New Delhi-110019
We have conducted the Secretarial Audit of the compliance of applicable statutory provisions and the adherence to good corporate g
Edge (India) Limited (hereinafter referred as “Company”). Secretarial Audit was conducted in a manner that provided us a reasonable
corporate conducts/ statutory compliances and expressing our opinion thereon.
Based on our verification of the Company’s books, papers, minute books, forms and returns filed and other records maintained by the
information provided by the Company, its officers, agents and authorized representatives during the conduct of Secretarial Audit, we
opinion, the Company has, during the audit period covering the financial year ended on March 31, 2021 complied with the statutory p
also that the Company has proper Board-processes and compliance-mechanism in place to the extent, in the manner and subject to t
hereinafter.
We have examined the books, papers, minute books, forms and returns filed and other records maintained by the Company for the Fi
31, 2021 according to the provisions of:
(i) The Companies Act, 2013 (the “Act”) and the Rules made thereunder;
(ii) The Securities Contracts (Regulation) Act, 1956 (”SCRA’) and the Rules made thereunder;
(iii) The Depositories Act, 1996 and the Regulations and Bye-laws framed thereunder to the extent of Regulation 76 of Securities and
(Depositories and Participants) Regulations, 2018;
(iv) Foreign Exchange Management Act, 1999 and the Rules and Regulations made thereunder to the extent of Foreign Direct Investm
Investment and External Commercial Borrowings, to the extent applicable;
(v) The following Regulations and Guidelines prescribed under the Securities and Exchange Board of India Act, 1992 (“SEBI Act”):-
(a) The Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011;
(b) The Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015;
(c) The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 to the extent applic
(d) The Securities and Exchange Board of India (Share Based Employee Benefits) Regulations, 2014 to the extent applicable;
(e) The Securities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations, 2008; Not Applicable
(f) The Securities and Exchange Board of India (Registrars to an Issue and Share Transfer Agents) Regulations, 1993 regarding the Co
client to the extent of securities issued;
(g) The Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009; Not Applicable
(h) The Securities and Exchange Board of India (Buy-back of Securities) Regulations, 2018; Not Applicable
(vi) As confirmed and certified by the Management, there is no Law specifically applicable to the Company based on the sector/busi
compliance with the applicable clauses/Regulations of the following:
(i) Secretarial Standards issued by The Institute of Company Secretaries of India.
(ii) SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
During the period under review, the Company has generally complied with the provisions of the Act, Rules, Regulations, Guidelines, S
above.
We further report that,
The Board of Directors of the Company is duly constituted with proper balance of Executive Directors, Non-Executive Directors and In
changes in the composition of the Board of Directors that took place during the period under review were carried out in compliance w
Adequate notice is given to all Directors to schedule the Board/ Committee Meetings. Agenda and detailed notes on agenda were sen
notice for which necessary approvals obtained, if any) and a system exists for seeking and obtaining further information and clarifica
before the meeting and for meaningful participation at the meeting.
All decisions at Board Meetings and Committee Meetings are carried out unanimously or with requisite majority as recorded in the mi
Board of Directors or Committee of the Board, as the case may be.
We further report that there are adequate systems and processes in the Company commensurate with the size and operations of the
ensure compliance with applicable Laws, Rules, Regulations and Guidelines.
We further report that during the audit period the Company has following specific events/actions having a major bearing on the com
the above referred laws, rules, regulations, guidelines, standards, etc.:
1. The Company has raised the funds through issue of 60,67,961 equity shares at a price of `3,090 per Equity Share (including a sha
Equity Share), which includes a discount of 2.74% (i.e. `87.18 per Equity Share), to the floor price of `3,177.18 per Equity Share, by w
Placement to eligible qualified institutional buyers, which was initially approved by the Shareholders of the Company by way of posta
dated July 27, 2020. With this allotment, the paid-up capital of the Company was increased from Rs. 1,225,161,590 (122,516,159 equ
Rs. 1,285,841,200 (128,584,120 equity shares of Rs. 10/- each).
2. The Board of Directors in its Meeting held on November 10, 2020 approved the Scheme of Amalgamation of Highorbit Careers Pri
Company”), a wholly owned subsidiary of the Company, with Info Edge (India) Limited (“Transferee Company”) and their shareholder
230 to 232 and other provisions of the Companies Act 2013.
3. The Committee of Executive Directors at its meeting held on February 26, 2021 has made allotment of 2,00,000 equity shares of
the Info Edge Employee Stock Option Plan Trust at Rs. 10/- per share. With this allotment, the paid-up capital of the Company was in
1,285,841,200 (128,584,120 equity shares of Rs. 10/- each) to Rs. 1,287,841,200 (128,784,120 equity shares of Rs. 10/- each).

For Chandrasekaran Associates

Company Secretaries
Rupesh Agarwal Managing Partner Membership No. A16302
Certificate of Practice No. 5673
UDIN: A016302C000438163

Date: 09.06.2021
Place: Delhi
Note:
(i) This report is to be read with our letter of even date which is annexed as Annexure A and forms an integral part of this report.
(ii) Due to restricted movement amid COVID-19 pandemic, we conducted the secretarial audit by examining the Secretarial Records
Documents, Registers and other records etc., and some of them received by way of electronic mode from the Company and could not
records. The management has confirmed that the records submitted to us are the true and correct. This Report is limited to the Stat
regulations / guidelines listed in our report of which, the due date has been ended/expired on or before March 31, 2021 pertaining to
Annexure-A
To,
The Board of Directors
M/s Info Edge (India) Limited GF-12A, 94, Meghdoot Building, Nehru Place, New Delhi-110019

1. Maintenance of secretarial record is the responsibility of the Management of the Company. Our responsibility is to express an op
records based on our audit.
2. We have followed the audit practices and processes as were appropriate to obtain reasonable assurance about the correctness o
Secretarial records. The verification was done on the random test basis to ensure that correct facts are reflected in secretarial recor
processes and practices, we followed provide a reasonable basis for our opinion.
3. We have not verified the correctness and appropriateness of financial records and Books of Accounts of the Company.
4. Wherever required, we have obtained the Management representation about the compliance of laws, rules and regulations and h
5. The compliance of the provisions of Corporate and other applicable Laws, Rules, Regulations, Standards is the responsibility of M
was limited to the verification of procedures on random test basis.
6. The Secretarial Audit report is neither an assurance as to the future viability of the Company nor of the efficacy or effectiveness
has conducted the affairs of the Company.
For Chandrasekaran Associates
Company Secretaries
Rupesh Agarwal Managing Partner Membership No. A16302
Certificate of Practice No. 5673
UDIN: A016302C000438163

Date: 09.06.2021
Place: Delhi
 the Companies (Accounts) Rules, 2014)

related parties referred to in sub-section (1) of Section 188

reto:

Not Applicable

Not Applicable

irectors or the KMP, their relatives or with the Subsidiaries/

al Accounts as part of the Annual Report.
For and on behalf of the Board of Directors
Kapil Kapoor
Chairman
DIN: 00178966

intment and Remuneration Personnel) Rules, 2014]

e adherence to good corporate governance practices by Info
ner that provided us a reasonable basis for evaluating the

other records maintained by the Company and also the

conduct of Secretarial Audit, we hereby report that in our
21 complied with the statutory provisions listed hereunder and
, in the manner and subject to the reporting made

ained by the Company for the Financial Year ended on March

f Regulation 76 of Securities and Exchange Board of India

extent of Foreign Direct Investment, Overseas Direct

India Act, 1992 (“SEBI Act”):-

ulations, 2011;

ations, 2018 to the extent applicable;

o the extent applicable;
08; Not Applicable
gulations, 1993 regarding the Companies Act and dealing with

plicable
cable
mpany based on the sector/business. We have also examined

Rules, Regulations, Guidelines, Standards, etc. mentioned

s, Non-Executive Directors and Independent Directors. The

were carried out in compliance with the provisions of the Act.
tailed notes on agenda were sent in advance (and at a shorter
further information and clarifications on the agenda items

e majority as recorded in the minutes of the meetings of the

h the size and operations of the Company to monitor and

ving a major bearing on the company’s affairs in pursuance of

per Equity Share (including a share premium of `3,080 per
`3,177.18 per Equity Share, by way of Qualified Institutions
of the Company by way of postal ballot by their resolution
1,225,161,590 (122,516,159 equity shares of Rs. 10/- each) to

amation of Highorbit Careers Private Limited (“Transferor

Company”) and their shareholders and creditors, under Section

ent of 2,00,000 equity shares of face value of Rs. 10/- each to

up capital of the Company was increased from Rs.
shares of Rs. 10/- each).

an integral part of this report.

xamining the Secretarial Records including Minutes,
from the Company and could not be verified from the original
This Report is limited to the Statutory Compliances on laws /
fore March 31, 2021 pertaining to Financial Year 2020-21.

responsibility is to express an opinion on these secretarial

surance about the correctness of the contents of the

are reflected in secretarial records. We believe that the

unts of the Company.

laws, rules and regulations and happening of events etc.
andards is the responsibility of Management. Our examination

r of the efficacy or effectiveness with which the Management

 SECRETARIAL COMPLIANCE REPORT OF INFO EDGE (INDIA) LIMITED
FOR THE YEAR ENDED MARCH 31, 2021
To,
The Board of Directors
M/s Info Edge (India) Limited GF-12A, 94, Meghdoot Building, Nehru Place, New Delhi-110019

We M/s. Chandrasekaran Associates have examined:

(a) All the documents and records made available to us and explanation provided by Info Edge (India) Limited. (“the listed entity”),
(b) The filings/ submissions made by the listed entity to the stock exchanges,
(c) Website of the listed entity,
(d) Any other document/ filing, as may be relevant, which has been relied upon to make this certification,

for the year ended March 31, 2021 (“Review Period”) in respect of compliance with the provisions of :
(a) the Securities and Exchange Board of India Act, 1992 (“SEBI Act”) and the Regulations, Circulars, Guidelines issued thereunder; a
(b) the Securities Contracts (Regulation) Act, 1956 (“SCRA”), Rules made thereunder and the Regulations, Circulars, Guidelines issue
Securities and Exchange Board of India (“SEBI”);
The Specific Regulations, whose provisions and the Circulars/Guidelines issued thereunder, have been examined, include:-
(a) Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015;
(b) Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 to the extent applicable;
(c) Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011;
(d) Securities and Exchange Board of India (Buyback of Securities) Regulations, 2018; Not Applicable during the year under review.
(e) Securities and Exchange Board of India (Share Based Employee Benefits) Regulations, 2014 to the extent applicable;
(f) Securities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations, 2008; Not Applicable during the year un
(g) Securities and Exchange Board of India (Issue and Listing of Non- Convertible and Redeemable Preference Shares) Regulations, 20
(h) Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015;
(i) The Depositories Act, 1996 and the Regulations and Bye-laws framed thereunder to the extent of Regulation 76 of Securities and
(Depositories and Participants) Regulations, 2018 to the extent applicable;
(j) The Securities and Exchange Board of India (Registrars to an Issue and Share Transfer Agents) Regulations, 1993 regarding the Co
client to the extent of securities issued;
(k) Securities and Exchange Board of India (Investor Protection and Education Fund) Regulations, 2009 to the extent applicable.

and based on the above examination, We hereby report that, during the Review Period:
(a) The listed entity has complied with the provisions of the above Regulations and Circulars/ Guidelines issued thereunder, except i
below:-
Sr. No Compliance Requirement (Regulations/ circulars Deviations Observations/ Remarks of the Practicing Company Secre
/ guidelines including specific clause)
NIL NIL NIL
(b) The listed entity has maintained proper records under the provisions of the above Regulations and circulars/ guidelines issued the
appears from my/our examination of those records.
(c) The following are the details of actions taken against the listed entity/ its promoters/ directors/ material subsidiaries either by
(including under the Standard Operating Procedures issued by SEBI through various circulars) under the aforesaid Acts/ Regulations an
thereunder:
Sr. No. Action taken by Details of violation Details of action taken E.g. fines, warning
letter, debarment, etc.
NIL NIL NIL
T OF INFO EDGE (INDIA) LIMITED
D MARCH 31, 2021

Delhi-110019

ed by Info Edge (India) Limited. (“the listed entity”),

to make this certification,

with the provisions of :

egulations, Circulars, Guidelines issued thereunder; and
under and the Regulations, Circulars, Guidelines issued thereunder by the

hereunder, have been examined, include:-

equirements) Regulations, 2015;
irements) Regulations, 2018 to the extent applicable;
d Takeovers) Regulations, 2011;
2018; Not Applicable during the year under review.
ulations, 2014 to the extent applicable;
Regulations, 2008; Not Applicable during the year under review;
e and Redeemable Preference Shares) Regulations, 2013; Not Applicable;
ations, 2015;
nder to the extent of Regulation 76 of Securities and Exchange Board of India

Transfer Agents) Regulations, 1993 regarding the Companies Act and dealing with

und) Regulations, 2009 to the extent applicable.

Period:
and Circulars/ Guidelines issued thereunder, except in respect of matters specified

rvations/ Remarks of the Practicing Company Secretary

NIL
above Regulations and circulars/ guidelines issued thereunder in so far as it

promoters/ directors/ material subsidiaries either by SEBI or by Stock Exchanges

us circulars) under the aforesaid Acts/ Regulations and circulars/ guidelines issued

Observations/ remarks of the Practicing

Company Secretary, if any.
NIL
 (d) The listed entity has taken the following actions to comply with the observations made in previous reports:
Sr. Observations of the Practicing Observations made in the Actions taken by the listed
No. Company Secretary in secretarial compliance report entity, if any
the previous reports for the year ended March 31,
2020. NIL
(e) The company has suitably included the conditions as mentioned in Para 6(A) and 6(B) of the SEBI Circular CIR/CFD/CMD1/114/201
the terms of appointment of statutory auditor of the Company.
For Chandrasekaran Associates
Company Secretaries
Rupesh Agarwal Managing Partner Membership No. A16302
Certificate of Practice No. 5673
UDIN: A016302C000438229

Date: 09.06.2021
Place: Delhi
Notes: Due to restricted movement amid COVID-19 pandemic, we conducted the secretarial audit by examining the Secretarial Recor
Documents, Registers and other records etc., and some of them received by way of electronic mode from the Company and could not
records. The management has confirmed that the records submitted to us are the true and correct. This Report is limited to the Stat
regulations / guidelines listed in our report of which, the due date has been ended/expired on or before March 31, 2021 pertaining to
n previous reports:
Comments of the Practicing
Company Secretary on the
actions taken by the listed
entity
the SEBI Circular CIR/CFD/CMD1/114/2019, dated October 18, 2019 in

audit by examining the Secretarial Records including Minutes,

ic mode from the Company and could not be verified from the original
orrect. This Report is limited to the Statutory Compliances on laws /
on or before March 31, 2021 pertaining to Financial Year 2020-21.
 ANNEXURE-IV
ANNUAL REPORT ON CSR ACTIVITIES FOR FINANCIAL YEAR 2020-21
1. Brief outline on Corporate Social Responsibility Policy of the Company
Your Company believes that Corporate Social Responsibility (“CSR”) is a means to achieve a balance of economic, environmental and
addressing the expectations of shareholders and all stakeholders. It is a responsible way of doing business. Info Edge’s CSR policy is a
for the community through its focus on education, employability and support to the disadvantaged and marginalized cross section of
strategy focuses on aligning corporate goals with development goals thereby enabling inclusive growth.
Objectives:
Our broad objectives, as stated in our CSR Policy, include:
• To operate the Company’s business in an economically, socially & environmentally sustainable manner.
• To contribute to society at large by way of social and cultural development, imparting education, training and development
programs for their development and generation of income.
• To ensure that CSR funds are allocated and utilized in a planned manner, so as to derive sustainable long term benefits to th

Focus areas:
Your Company undertook various activities during the year in line with its CSR Policy and Schedule VII to the Companies Act, 2013
growth, your company continued to focus its CSR initiatives primarily in the field of education & employability in this reporting ye
emphasis on promoting health care including preventive health care in view of Covid-19 pandemic, as well as on skill developmen
training.
The CSR initiatives of your Company, during the year, have had, inter-alia, following main focus:
a) Supported COVID-19 relief measures by contributing for development of an indigenous invasive mechanical ventilator capable
airline + oxygen as well as ambient air and supply of full-body Personal Protective Equipment (PPE) kits to Govt.
b) Augmenting the higher education standards in India by creating infrastructure for professional education and training for cap
c) Promotion of multidisciplinary technology research and education in science and technology.
d) Mentoring & guiding entrepreneurs by equipping them with the necessary skills including mentorship and incubation.
e) Development and strengthening of infrastructure for education of children with or without disability including those working
f) Employment of people with disability through early intervention, inclusive education, skill building etc.
g) Improving learning outcomes through enhancing parental and community engagement in Government Schools.
h) Providing Equal opportunity platform to bright & intelligent students from impoverished families in India.

2. Composition of CSR Committee

The CSR Committee, constituted under Companies Act, 2013, comprised of four members as on March 31, 2021, as per the details giv
Sl. No. Name of Director Designation/Nature of No. of meetings of CSR
Directorship Committee held during the year
1 Mr. Saurabh Srivastava Chairman of the Committee 5
(Non-Executive, Independent
Director)
2 Mr. Sanjeev Member 5
Bikhchandani (Founder & Executive Vice Chairman)
3 Mr. Hitesh Oberoi Member (Managing Director & 5
CEO)
4 Mr. Chintan Thakkar Member 5
(Whole-time Director & CFO)
3. Provide the web-link where Composition of CSR committee, CSR Policy and CSR projects approved by the board is disclosed on

4. Provide the details of Impact assessment of CSR projects carried out in pursuance of sub-rule (3) of Rule 8 of Companies (C
Responsibility Policy) Rules, 2014, if applicable (attach the report).
Not Applicable.
NANCIAL YEAR 2020-21

a balance of economic, environmental and social imperatives, while

doing business. Info Edge’s CSR policy is aimed at demonstrating care
antaged and marginalized cross section of the society. At Info Edge, CSR
usive growth.

sustainable manner.
rting education, training and development and skill enhancement

derive sustainable long term benefits to the Community at large.

nd Schedule VII to the Companies Act, 2013. With the idea of shared
ucation & employability in this reporting year, with much needed
9 pandemic, as well as on skill development and vocational skills

main focus:
nous invasive mechanical ventilator capable of working with medical
pment (PPE) kits to Govt.
professional education and training for capacity building for the nation.
echnology.
cluding mentorship and incubation.
without disability including those working as waste-pickers.
on, skill building etc.
ment in Government Schools.
ished families in India.

as on March 31, 2021, as per the details given below:

No. of meetings of CSR
Committee attended during the
year 5

jects approved by the board is disclosed on the website of the company:U Composition of CSR committee: [Link]

of sub-rule (3) of Rule 8 of Companies (Corporate Social

 5. Details of the amount available for set-off in pursuance of sub-rule (3) of Rule 7 of the Companies (Corporate Social Respon
and amount required for set-off for the financial year, if any.
Sl. No. Financial Year Amount available for set-off from Amount required to be set off for the
preceding financial years (in ` Mn.) financial year, if any (in ` Mn.)
1 N.A. N.A. N.A.
Total N.A. N.A.
6. Average net profit of the company as per Section 135(5): ` 4016.05 mn
7. Total CSR Obligation:
S. No. Particular
(a) Two percent of average net profit of the company as per Section 135(5)
(b) Surplus arising out of the CSR projects or programmes or activities of the previous financial year
(c) Amount required to be set off for the financial year, if any:
(d) Total CSR obligation for the financial year 2020-21 (7a+7b+7c)
8. (a) CSR amount spent or unspent for the financial year 2020-21:
Total Amount Spent for Amount Unspent (in ` Mn.)
the Financial Year 2020- Total Amount transferred to Unspent Amount transferred to any fund specified under Schedule VII as
21 CSR Account as per Section 135(6) per second proviso to Section 135(5)
(in ` Mn.) Amount Date of transfer Name of the Fund Amount Date of transfer
80.32 N.A. N.A. N.A. N.A. N.A.
(b) Details of CSR amount spent against ongoing projects for the financial year 2020-21:
Not Applicable
(c) Details of CSR amount spent against other than ongoing projects for the financial year 2020-21:
1. Supply of full-body Personal Protective Equipment (PPE) kits for Delhi Police
Keeping in view the spread of the novel coronavirus (COVID-19) in India and its declaration as a pandemic by the World Health Or
decision of Government of India to treat this as a notified disaster, Ministry of Corporate Affairs (MCA) vide general circular dated
clarified that spending CSR funds for COVID-19 related activities shall qualify as CSR expenditure. It was further clarified by MCA
various activities related to COVID-19 under items nos. (i) and (xii) of Schedule VII of the Companies Act, 2013 relating to promot
preventive health care, sanitation and disaster management.
The Company in an attempt to strenghthen the national drive to fight against the pandemic of COVID-19 donated 500 full-body Pe
(PPE) kits for Delhi Police personnel posted at quarantine facilities across the National Capital.
2. Supply of full-body Personal Protective Equipment (PPE) kits to Hospitals
The Company in an attempt to strengthen the national drive to fight against the pandemic of COVID-19 had donated 2700 full-bod
Equipment (PPE) kits to Directorate General of Health Services, Government of NCT of Delhi which were used in various Governm
by healthcare professionals working in Covid-19 care.
3. Research & Development of a completely indigenized & affordable mechanical ventilator
The Company made a contribution to a project named as ‘To develop a completely indigenized, invasive, portable and affordable
an aim to promoting healthcare including preventive health care by contributing funds to Foundation for Innovation & Research in
(FIRST), an Incubator Promoted by Indian Institute of Technology – Kanpur (IITK). FIRST in collaboration with Nocca Robotics, one
FIRST, has established the COVID-19 Response Programme by creating a consortium with Bio-medical engineers, doctors, R&D lea
business heads, etc. to develop a completely indigenized, invasive, portable and affordable mechanical ventilator. Nocca Robotic
created & manufactured an invasive mechanical ventilator (the kind that will work for COVID-19 patients) that can serve the curr
the Country. The said Ventilator can be manufactured at a large scale at multiple sites in India with the materials and parts curre
suppliers and manufacturers and is capable of working with medical airline + oxygen as well as ambient air + oxygen, thus providi
under a variety of circumstances.
4. Youth Entrepreneurship for the underprivileged
The Company utilized the CSR Funds in deployment at Bhartiya Yuva Shakti Trust (BYST) having an objective to empower young d
are disadvantaged and integrate them into the economic mainstream. BYST fosters the entrepreneurial dreams of underprivileged
18-35 years in India, thereby, turning job seekers into job creators. It provides total assistance to disadvantaged youths who have
funding or assistance by providing a package of complete assistance including counselling, training, financial assistance and other
which help in the sustainability of their businesses. A unique feature of the BYST programme is that each entrepreneur is assigned
industry, who gives voluntary personalized advice and support.
The objective of the project is to reach youth in rural and peri-urban areas of NCR at a large scale to raise awareness and train th
create a sustainable model of youth entrepreneurship for the underprivileged including to fund and mentor youth businesses and
and employment.
5. Learning certification for fundraising professionals
The Contribution by your Company has been deployed at Central Square Foundation, for capacity building initiative for non-pr
initiative is a rigorous blended-learning certification specifically designed for fundraising professionals in the social sector.
Under this initiative, selected non-profit organizations were supported for a training module on Fundraising, conducted by the
Social Sector) to address the acute funding crunches which the NGOs are facing especially due to the pandemic situation and
19 relief .
6. Imparting livelihood skills to financially empower low income community women
The contribution by your Company has been deployed at Khwaab Welfare Trust which renders quality inclusive skill developm
empower low-income community women by imparting livelihood skills and enables them through awareness sessions based on
planning that helps them make informed decisions, equips them with livelihood skills of tailoring, knitting and tye & dye and e
a platform to convert these skills into a livelihood through creation of an artisanal, handmade and handcrafted product range
The proposed project aims to create a potential sustainable livelihood for thirty women of Mandawali village in East Delhi thr
products. It also aims to provide a platform to two hundred women to showcase their talent pertaining to traditional crafts, k
and culinary expertise. It also proposes to run a Talent hunt series for women of Mandawali with an aim to bring out and groo
an entrepreneurial mindset for them.
7. Support to the Post Primary School Programme
Your Company continued its support to Social Outreach Foundation (SOF) for the project “Support to the Post Primary School
towards school fees, books and stationery including educational material and school uniform for eighty economically underpri
The objective of the proposed programme is to provide quality education for all children from the marginalized sections of th
eradicate the curse of poverty and to remove the day to day financial uncertainties and ensure a long time commitment of ed
8. Working towards building skills and self- belief in young adults
The contribution by your Company has been deployed at Ghanshyamdas Jain Charitable Trust (GJCT) which has an established
maintaining/running development of educational institutions/hospitals/libraries etc.
The proposed project is a structured intervention for three hundred students of grade 11th and 12th students of Delhi & Gurug
help them develop exposure, foundational skills and 21st century skills to enter a career of their choice. Students will be enga
WhatsApp group engagements and bi-weekly phone calls and will be enabled to select a career path and then mapped to prof
will help them build skills for that field and do live projects.
9. Improve early learning outcomes of children
The contribution by your Company has been deployed at Shally Education Foundation (SEF) which focuses on transforming par
child’s development. It works on the belief that effective parenting through involvement in the children’s education can signi
learning potential. SEF empowers parents across low-income communities to provide an environment of excellent early learni
children at home. They provide learning resources and parent coaching through an innovative blend of online and offline com
Under the proposed initiative, SEF has onboarded a number of Relationship Managers (RMs) from the community who have bee
out to the mothers and children in the community. These RMs will support children with providing, solving and correcting wor
50 community-based women to be RMs and aims to convert 75% of them into lifelong entrepreneurs. It will also provide learni
students managed by said 50 RMs.
SEF also proposes to create strong data systems and chat-based technology for helping these RMs to scale the program while w
10. Research Centre Development at Plaksha University
Your Company has carried on the CSR initiative to establish & support one of the research centres at Plaksha University, which
India’s largest philanthropic initiative to setup a Technology University. It aims to re-imagine technology research and educat
It’s vision is to create ethical problem solvers and fearless leaders who transform the world through advances in science and t
environment where inter-disciplinary academic pursuits and cutting-edge research take place within a framework of humanist
seeks to emerge in coming years as an institution of choice for exceptional students and faculty.
11. Campus Development and operation of the Ashoka University
Your Company has carried on the CSR initiative for construction of library building and other capital expenditure for developin
University. The objective is to help students become well-rounded individuals who can think critically about issues from multi
communicate effectively and become leaders with a commitment to public service. At Ashoka University, education carries a
foundational knowledge, thorough academic research based on rigorous pedagogy and hands-on experience with real-world ch
12. Therapeutic aid to children facing developmental delays in formative years
The contribution by your Company has been deployed at Sarthak Education Trust which is working towards the employment of
guiding principle of Sarthak Education Trust are Inclusion, Empowerment and Mainstreaming of Persons with disability. Throug
areas of Early Intervention, Inclusive Education, Skill Building, Placement, Advocacy Generation, Accessible Event Managemen
Parents’ Interaction Forum.
Sarthak has trained and placed thousands of PWDs in addition to rehabilitation of enormous children with disability.
The Project aims to offer through the Early Intervention Centre therapeutic aid to children facing developmental delays in the
work for the overall development of children with neurological problems, birth defects, genetic disorders etc. and enhance th
endeavor to help them circumvent their disability. The Project model during the pandemic remains hybrid with children being
parents visiting the center periodically. The Sarthak team is also developing an online resource repository on Early interventi
project digitally.
13. Support to the Education-cum Protection Centre for children by the name of “Mera Sahara”
Your Company continued its support to Joint Women’s Programme (JWP), a registered society, for meeting a range of operati
contributed for running the Education-cum-Protection Centre for children by the name of “Mera Sahara” where around 110 ch
1-12 years, are educated, protected and made eligible for mainstream schools. Children who qualify to go to mainstream scho
nearby Government Schools.
JWP is also engaged in lobbying and advocating for the rights of the deprived and marginalized women and children, in condu
and health education classes for mothers and school dropouts in urban slums and rural areas and in providing training in tailor
making and computer classes. Mera Sahara facilitates taking up National Institute of Open Schooling (NIOS) exam for students
take admission to other private schools to continue education.
14. Infrastructure for education for children with & without disability
The contribution by your Company has been deployed at Amar Jyoti Research & Rehabilitation Centre. Amar Jyoti is a volunta
rehabilitation services to Persons with Disabilities through a holistic approach of inclusive education, medical care, vocationa
self-employment.
The project entails holistic education of 50 students with and without disabilities from low-income backgrounds at Amar Jyoti
15. Whole-school transformation project
The contribution by your Company has been deployed at Simple Education Foundation (SEF), a non-profit organization with th
power of making a positive impact back in the hands of those stakeholders, who directly influence the quality of teaching & le
teachers, students and principals.
The objective of the Project is embedded in building leadership skills that push for a transformation in school culture and bui
environment for the students and to build on the ownership of stakeholders to actively take charge of the process of transform
classrooms. In the long term, the goal is to build robust models that can be easily adapted within the public education system
government. SEF is working with a mission to build pathways that offer every child the access to quality education, regardless
backgrounds by transforming the teaching and learning practices with government schools.
16. Creative Learning Environment for the Underprivileged Children
The contribution by your Company has been deployed at Jayaprakash Narayan Memorial Trust, working with the objective of p
environment for the underprivileged children. It works to bridge the gap for those children who have little or no access to edu
from Nursery to Class XII & beyond. Most of the children are first generation learners and have parents who work as domestic
industrial workers, plumbers & street vendors. Vidya & Child offers a holistic approach through intensive Life Skills and Arts &
academic, financial & mentoring support. It helps each child to explore and identify their uniqueness within.
The objective of the project is to support the education of 100 children at their school called ‘Vatika School’ located at Shahp
Noida, where around 330 students study upto class 8. The center provides NIOS examination to children after passing out of cl
children hail from families of low income communities/migrant workers in and around the center location.
17. Provision for Empowerment and early intervention to Children with Autism
The contribution by your company has been deployed at Behavior Momentum India Foundation (BMIF). BMIF works for improvin
Autism through Applied Behavior Analysis (ABA) therapy. BMIF runs an early intervention center to provide children with autis
belonging to low-income families’ one-on-one intensive training, special education and therapy through a team of special edu
pediatrician.
BMIF is now taking the initiative to roll out an Applied Behavior Autism Technician (ABAT) course with an aim of creating a po
with highest professional and ethical standards to ensure families with children with Autism get outstanding education and su
providing classroom training, self-directed video based learning and practical training with feedback from trained professiona
persons each (60 in total).
18. Gyantantra Udbhav (Digital Dost) (“GDD”)- Education Innovation for a strong foundation
The contribution by your Company has been deployed at Literacy India (LI), a non-profit organization with the objective of ed
women and children and empowering them to become self-reliant and employable. It is working across states - Delhi-NCR, Ha
Chhattisgarh, West Bengal, Rajasthan, Uttar Pradesh, Uttaranchal, Jharkhand, J&K and Telangana. It has number of centers a
of thousands of beneficiaries annually. The objective of the Project is to encompass educational software, which is a tech- ba
India.
GDD is an innovative PC based, interactive learning tool which is addressing the learning gap widely prevalent in the early gra
cost effective and scalable manner. Targeted beneficiaries are 440 students from low socio-economic backgrounds studying at
Schools at three villages in Noida- Shahpur, Gejha and Sultanpur.
19. Enhanced parental & community engagement to improve learning outcomes
The contribution by your Company has been deployed at Saajha, a non-profit Company registered pursuant to Section 8 under
working towards enhancing community and parental engagement in Government schools. In these schools, Saajha builds leade
members, engages with the school management and teachers, and provides on-ground support to enable effective parental pa
The objective of the project is to strengthen SMCs in Delhi government schools and focus on increasing parental engagement w
learning outcomes for children and direct support to parents through a dedicated call center manned by parent representativ
chatbot.
20. Imparting Quality Education through Computer and Learning Development
The contribution by your Company has been deployed at the Swami Sivananda Memorial Institute (SSMI) which is working to im
the under-privileged women, youth and children through research, promotion, provisioning of services and skill development
health, nutrition, environment and livelihood.
SSMI runs a ‘Digital Education Project’ to build a scalable learning solution using technology to complement classroom based l
Gyantantra curriculum is synced with the classroom lesson plan which supplements children’s learning and helps underperform
learning process and achieve grade-level competency.
21. Strong language and literacy development
The contribution by your Company has been deployed at Language and Learning Foundation (LLF) working towards developing
understanding of early language and literacy scenario in India. LLF aims at improving the quality of teaching-learning of langu
government schools through continuous professional development of teachers and teacher educators. LLF also intends to prov
State and Districts Resource Groups and field based programs; and to build an evidence-based knowledge resources for addres
situation at all levels.
The objective of the project is to build and strengthen capacity of government system through training block level resource p
teachers to ensure foundational literacy and numeracy for children. It is being delivered in partnership with Government of H
facilitation and content support. The proposed project will cover over 3028 children, 120 teachers and 56 head teachers from
Kurukshetra.
22. Imparting special education support to formal school children
Your Company further made a contribution at the Swami Sivananda Memorial Institute (SSMI) for a project to identify and sup
(slow learners, dyslexia, autism etc.) and provide remedial teaching by building capacity of teachers, special educators and p
needs of the Special Child.
23. Leadership development program through comprehensive life-skills based education
The contribution by your Company has been deployed at Milan foundation, working towards empowering adolescent girls from
communities from various districts falling within the State of Uttar Pradesh. The proposed project is a girl-led leadership deve
invests in collectivizing girls at the grassroots, delivering comprehensive life-skills based education and instigating collective s
are adolescent girls (aged 12-18 years) from families with annual income less than INR 1 lac and each Icon trains a group of 21
The objective of the project is to empower girls and help them in completing secondary education, prevention of child marria
discrimination and violence and improved health outcomes. The proposed project will support 10 girl icons and 210 girls. It is
divided into three phases: Identify, Nurture and Amplify.
24. Art based learning to children from disadvantaged communities
The contribution by your Company has been deployed at Foundation of Arts for Social Change in India (Slam Out Loud). Slam O
and visual arts to enable children from disadvantaged communities to find their voice through creative expression. It works w
learning resources to help children build the creative confidence needed for them to dream bigger and create their future. By
for art based learning that is traditionally inaccessible to individuals in at-risk communities, it builds in them 21st century skil
communication, collaboration and creativity, fostering leadership that can drive universal change. The diverse group of childr
Slam Out Loud works with in these communities discover their voices through the transformational power of the arts enabling
thinkers who dream bigger, achieve more and create the future.
Slam Out Loud runs a program called an adapted model of Jijivisha fellowship which will leverage the power of arts, the reach
platforms and the mentorship and training support of accomplished artists to deliver mental wellbeing, socio-emotional learn
century skills through art to the most vulnerable children by offering localised, need-sensitive and fun at-home audio, video,
for learners who have limited access to the internet, a mentorship support which is online until learning spaces reopen, and in
year, for engaging children towards creative outcomes and building mental resilience. The project will cover cost of delivery
children in a hybrid model of offline and online.
25. Education for children from communities of waste pickers
The contribution by your Company has been deployed at the Chintan Environmental Research and Action Group (Chintan) for a
education and health amongst waste picking children. Chintan is a registered society that runs a programme with the name “N
with communities of waste pickers to ensure that such children, or children likely to begin to work on waste, get access to qu
learning Centers. It is also engaged in providing them with medical services, life-skills and exposure to help them make inform
and future. This project will provide access to quality education to 300 children.
26. Sustainable model of youth entrepreneurship for the underprivileged
The contribution by your Company has been deployed at Bhartiya Yuva Shakti Trust (BYST) having an objective to empower yo
who are disadvantaged and integrate them into the economic mainstream. BYST fosters the entrepreneurial dreams of underp
ages of 18-35 years in India, thereby, turning job seekers into job creators. It provides total assistance to disadvantaged youth
means of funding or assistance by providing a package of complete assistance including counselling, training, financial assistan
related services which help in the sustainability of their businesses. A unique feature of the BYST programme is that each ent
mentor, drawn from the industry, who gives voluntary personalized advice and support.
The objective of the project is to reach youths in NCR at a large scale to raise awareness and train them for entrepreneurship
model of youth entrepreneurship for the underprivileged including to fund and mentor youth businesses and to ensure creatio
employment. In continuation to add more Grampreneurs we encouraged BYST to increase their reach and more areas around G
es (Corporate Social Responsibility Policy) Rules, 2014

quired to be set off for the

ear, if any (in ` Mn.)
N.A.
N.A.

Amount (in ` Mn.)

80.32
Nil
Nil
80.32

cified under Schedule VII as

)
Date of transfer
N.A.

21:

emic by the World Health Organization and subsequent

A) vide general circular dated March 23, 2020, has
was further clarified by MCA that funds may be spent for
Act, 2013 relating to promotion of healthcare, including

-19 donated 500 full-body Personal Protective Equipment

19 had donated 2700 full-body Personal Protective

ere used in various Government hospitals across the city

sive, portable and affordable mechanical ventilator’ with

for Innovation & Research in Science & Technology
on with Nocca Robotics, one of the startups incubated at
engineers, doctors, R&D leaders, Supply chain, MedTech
cal ventilator. Nocca Robotics has designed, developed,
ents) that can serve the current shortage of ventilators in
the materials and parts currently available with Indian
ent air + oxygen, thus providing the versatility to operate

bjective to empower young dynamic entrepreneurs, who

ial dreams of underprivileged youth between the ages of
advantaged youths who have no alternative means of
inancial assistance and other business-related services
each entrepreneur is assigned a mentor, drawn from the

raise awareness and train them for entrepreneurship to

mentor youth businesses and to ensure creation of wealth
 building initiative for non-profit organizations. The said
onals in the social sector.
undraising, conducted by the ILSS (Indian Leaders for
the pandemic situation and diversion of funds to Covid-

ality inclusive skill development training to financially

awareness sessions based on financial literacy and
, knitting and tye & dye and empowers them by providing
d handcrafted product range.
awali village in East Delhi through authentic handmade
aining to traditional crafts, knitwear, garment tailoring
an aim to bring out and groom existing skills and create

t to the Post Primary School Programme” and contributed

eighty economically underprivileged children.
e marginalized sections of the society to help them
long time commitment of education to the children.

CT) which has an established track record of

2th students of Delhi & Gurugram government schools to

choice. Students will be engaged through webinars,
ath and then mapped to professionals from the field who

focuses on transforming parents’ engagement in their

hildren’s education can significantly enhance children’s
ment of excellent early learning and care for their
nd of online and offline components.
the community who have been trained to directly reach
g, solving and correcting worksheets. SEF plans to employ
urs. It will also provide learning resources to 1,000

to scale the program while working from home.

s at Plaksha University, which is conceptualized to be

hnology research and education for the 21st century.
gh advances in science and technology. By creating an
hin a framework of humanistic values, Plaksha University

tal expenditure for developing the campus of the Ashoka

cally about issues from multiple perspectives,
iversity, education carries a strong emphasis on
xperience with real-world challenges.

g towards the employment of people with disability. The

ersons with disability. Through its dedicated efforts in the
Accessible Event Management Support and Online

ren with disability.

g developmental delays in the formative years and will
disorders etc. and enhance their abilities to the full and
ns hybrid with children being mentored online and
epository on Early intervention to eventually scale the
ra”
r meeting a range of operational expenses and
Sahara” where around 110 children, between the ages of
lify to go to mainstream schools are admitted to the

omen and children, in conducting adult education, legal

in providing training in tailoring and embroidery, durrie
ing (NIOS) exam for students in class 5th so that they may

ntre. Amar Jyoti is a voluntary organization rendering

ion, medical care, vocational training, child guidance and

me backgrounds at Amar Jyoti School.

n-profit organization with the objective to give the

e the quality of teaching & learning inside classrooms –

ion in school culture and build a holistic learning

ge of the process of transformation within the schools and
the public education system and implemented by the
quality education, regardless of their social and economic

orking with the objective of providing a creative learning

ave little or no access to education. It caters to children
rents who work as domestic servants, rickshaw pullers,
ntensive Life Skills and Arts & Performing Arts along with
ness within.
tika School’ located at Shahpur village, Sector-128,
hildren after passing out of class 3rd, 5th and 8th. The
location.

MIF). BMIF works for improving life of children with

o provide children with autism in age group 0-10,
hrough a team of special educators, psychologist and

with an aim of creating a powerful work force in India

outstanding education and support. This will involve
ack from trained professionals to two batches of 30

tion with the objective of educating under privileged

across states - Delhi-NCR, Haryana, Maharashtra,
a. It has number of centers across India with an outreach
software, which is a tech- based initiative of Literacy

ely prevalent in the early grade schools across India, in a

omic backgrounds studying at Government Primary

pursuant to Section 8 under the Companies Act, 2013,

e schools, Saajha builds leadership capabilities of the SMC
enable effective parental participation.
easing parental engagement with an aim to improve
nned by parent representatives as well as a WhatsApp

(SSMI) which is working to improve the quality of life of

vices and skill development in the fields of education,

omplement classroom based learning for children.

rning and helps underperforming students cope with
 working towards developing an effective and grounded
of teaching-learning of language and literacy in primary
tors. LLF also intends to provide technical support to
owledge resources for addressing the early literacy

aining block level resource persons, teacher trainers and

ership with Government of Haryana wherein LLF provides
rs and 56 head teachers from schools at Pehowa block,

a project to identify and support children with difficulties

hers, special educators and parents to understand the

owering adolescent girls from remote and vulnerable

t is a girl-led leadership development program which
on and instigating collective social actions. The Girl Icons
each Icon trains a group of 21 other girls.
n, prevention of child marriage, gender based
girl icons and 210 girls. It is 18 months intervention

ndia (Slam Out Loud). Slam Out Loud uses performance

eative expression. It works with professional artists and e-
er and create their future. By providing access to space
ilds in them 21st century skills of critical thinking,
e. The diverse group of children, youth and artists that
al power of the arts enabling them to become creative

e the power of arts, the reach of multiple low tech

being, socio-emotional learning and development of 21st
d fun at-home audio, video, text and physical resources
earning spaces reopen, and in person for the rest of the
ct will cover cost of delivery of the program to 400

d Action Group (Chintan) for addressing the lack of quality

programme with the name “No Child in Trash” to work
rk on waste, get access to quality education through their
ure to help them make informed choices about their lives

an objective to empower young dynamic entrepreneurs,

epreneurial dreams of underprivileged youth between the
tance to disadvantaged youths who have no alternative
ng, training, financial assistance and other business-
programme is that each entrepreneur is assigned a

n them for entrepreneurship to create a sustainable

nesses and to ensure creation of wealth, and
each and more areas around Gurgaon in this project.
(1) (2) (3) (4) (5) (6) (7)
Sl. Name of the Project Item from the Local Location of the Amount spent Mode of
No. list of area Project for the Project Implementation/
activities in (Yes/ State District (in ` Mn.) Direct
Schedule VII No) (Yes/No)
to the Act

1 Supply of full-body Personal COVID-19 Yes New New Delhi 0.23 Yes
Protective Equipment (PPE) pandemic Delhi
kits for Delhi Police relief
2 Supply of full-body Personal COVID-19 Yes New New Delhi 2.46 Yes
Protective Equipment (PPE) pandemic Delhi
kits to Hospitals relief
3 Research & Development of a COVID-19 No Uttar Kanpur 5.00 No
completely indigenized & pandemic Pradesh
affordable mechanical relief
ventilator
4 Youth Entrepreneurship for Professional Yes Haryana Gurugram 2.20 No
the underprivileged Education

5 Learning certification for Professional Yes New New Delhi 0.47 No

fundraising professionals Education Delhi

6 Imparting livelihood skills Vocational Yes New New Delhi 1.50 No

to financially empower low Education Delhi
income community women
7 Support to the Post Primary Post Primary Yes Uttar Gautam 1.50 No
School Programme Education Pradesh Budddha
Nagar
8 Working towards building Vocational Yes New New Delhi 1.50 No
skills and self- belief in Education Delhi
young adults
9 Improve early learning Vocational Yes New New Delhi 2.20 No
outcomes of children Education Delhi
10 Research Centre Higher No Punjab Mohali 22.00 No
Development at Plaksha Education
University
11 Campus Development and Higher Yes Haryana Sonipat 11.50 No
operation of the Ashoka Education
University

12 Therapeutic aid to children Special Yes Uttar Sahihabad 2.30 No

facing developmental delays Education Pradesh
in formative years
13 Support to the Education- Primary Yes Uttar Gautam 1.38 No
cum Protection Centre for Education Pradesh Budddha
children by the name of Nagar
14 Infrastructure
“Mera Sahara” for education Special Yes New New Delhi 2.30 No
for children with & without Education Delhi
disability
15 Whole-school transformation Primary Yes New New Delhi 1.50 No
project Education Delhi
16 Creative Learning Primary Yes Uttar Gautam 0.52 No
Environment for the Education Pradesh Budh Nagar
Underprivileged Children

17 Provision for Empowerment Special Yes Uttar Gautam 2.00 No

and early intervention to Education Pradesh Budh Nagar
Children with Autism
18 Gyantantra Udbhav (Digital Special Yes Uttar Gautam 1.20 No
Dost) (“GDD”)- Education Education Pradesh Budh Nagar
Innovation for a strong
foundation
19 Enhanced parental & Primary Yes New New Delhi 2.40 No
community engagement to Education Delhi
improve learning outcomes
20 Imparting Quality Special Yes New New Delhi 1.10 No
Education through Education Delhi
Computer and Learning
21 Strong language and literacy
Development Special No Haryana Kurukshetra 2.00 No
development Education

22 Imparting special education Special Yes New New Delhi 1.60 No

support to formal school Education Delhi
children
23 Leadership development Special No Uttar Multiple 1.05 No
program through Education Pradesh Districts
comprehensive life-skills
based education
24 Art based learning to Special Yes New New 0.50 No
children from disadvantaged Education Delhi Delhi
communities
25 Education for children from Primary Yes Uttar Ghaziabad 3.61 No
communities of waste pickers Education Pradesh

26 Sustainable model of youth Professional Yes Haryana Gurugram 2.30 No

entrepreneurship for the Education
underprivileged

Total 76.32
 (8)
Mode of Implementation -
Through Implementing Agency

Name CSR
Registration
number*
- NA

- NA

IIT-Kanpur NA

Bharatiya NA
Yuva
Shakti Trust
(BYST)
Central Square NA
Foundation

Khwaab NA
Welfare Trust

Social Outreach NA
Foundation

Ghanshyamdas NA
Jain Charitable
Trust
Shally NA
Education
Reimagining
Foundation NA
Higher Education
Foundation
International NA
Foundation for
Research and
Education
Sarthak NA
Educational Trust

Joint Women’s NA
Programme

Amar Jyoti NA
Charitable Trust

Simple Education NA
Foundation
Vidya and Child, NA
Jayaprakash
Narayan Memorial
Trust
Behavior NA
Momentum India
Foundation
Literacy India NA
 Saajha NA

Swami Sivananda NA
Memorial
Institute
Language and NA
Learning
Foundation
Swami Sivananda NA
Memorial
Institute
Milaan- Be the NA
Change

Foundation of NA
Arts for Social
Change in India
Chintan NA
Environmental
and Research
Action Group
Bharatiya NA
Yuva
Shakti Trust
(BYST)
 *CSR registration will be obtained within the timelines prescribed under CSR Amendment Rules. The requirement does not appl
on or before March 31, 2021.
(d) Amount spent in Administrative Overheads: ` 4.00 Mn.
(e) Amount spent on Impact Assessment, if applicable: Not Applicable
(f) Total amount spent for the Financial Year (8b+8c+8d+8e): ` 80.32 Mn.
(g) Excess amount for set off, if any:

S. No. Particular

(i) Two percent of average net profit of the company as per Section 135(5)
(ii) Total amount spent for the Financial Year
(iii) Excess amount spent for the financial year [(ii)-(i)]
(iv) Surplus arising out of the CSR projects or programmes or activities of the previous financial years, if any
(v) Amount available for set off in succeeding financial years [(iii)-(iv)]
9. (a) Details of Unspent CSR amount for the preceding three financial years:
Sl. No. Preceding Amount transferred Amount spent in Amount transferred to any fund specified Amount remaining to
Financial to Unspent CSR the reporting under Schedule VII as per Section 135(6), if any be spent in
Year Account under Financial Year (in Name of the Fund Amount (In ` Date of succeeding financial
section 135 (6) (in ` ` Mn.) Mn.) transfer years
1 N.A. Mn.)
N.A. N.A. N.A. N.A. N.A. (inN.A.
` Mn.)
(b) Details of CSR amount spent in the financial year for ongoing projects of the preceding financial year(s): Not Applicable
 requirement does not apply to CSR projects approved

Amount
(in ` Mn.)
80.32
80.32
N.A
N.A
N.A

Amount remaining to
be spent in
succeeding financial
years
(inN.A.
` Mn.)
cial year(s): Not Applicable
10. In case of creation or acquisition of capital asset, furnish the details relating to the asset so created or acquired through CS
(asset-wise details).
Not Applicable
11. Specify the reason(s), if the Company has failed to spend two per cent of the average net profit as per Section 135(5):
Ever since the provisions relating to Corporate Social Responsibility came into being i.e. with effect from April 1, 2014, Info Edge has
expenditure of the earmarked CSR budget every year. During FY21 also, the Company has spent/committed an amount of `80.32 Mn.
the year as mentioned herein above.
As a socially responsible Company, your Company is committed to create an admirable CSR impact with its aim of playing a worthy ro
economic, environmental and social imperatives while addressing the expectations of shareholders and all other stakeholders.

Sd/- Sd/-
Place: Noida Hitesh Oberoi (Managing Director
Date: July 5, 2021 & CEO)
ated or acquired through CSR spent in the financial year

as per Section 135(5):

m April 1, 2014, Info Edge has religiously ensured
ted an amount of `80.32 Mn. i.e. its entire CSR Budget for

ts aim of playing a worthy role in achieving a balance of

all other stakeholders.

Sd/-
Saurabh Srivastava (Chairman-CSR
Committee)
 ANNEXURE-V
BUSINESS RESPONSIBILITY REPORT 2020-21

Section A: General Information about the Company

1. Corporate Identity Number (CIN) of the Company
2. Name of the Company
3. Registered Address

4. Website
5. E-mail
6. Financial Year Reported
7. Sector(s) that the Company is engaged in (industrial activity code-wise)

8. List three key products/services that the Company

manufactures/provides (as in balance sheet)

9. Total no. of locations where business activity is undertaken by the

Company:
(a) Number of International Locations:
(b) Number of National Locations:
10. Markets served by the Company-Local/State/National/International
Section B: Financial details of the Company
1. Paid up Capital (INR)
2. Total Turn Over (INR)
3. Total profit after taxes (INR) (Total Comprehensive Income)
4. Total Spending on Corporate Social Responsibility (CSR) as percentage
of profit after tax (%)
5. List of activities in which expenditure in 4 above has been incurred

Section C: Other Details

1. Does the Company have any Subsidiary Company/ Companies? Yes, please refer page no. 97 of Directors’ Report
2. Do the Subsidiary Company/ Companies participate in the BR Info Edge defines the code of conduct of business ethics which
Initiatives of the parent company? If yes, then indicate the number of applicable for all the subsidiary companies also. All the compan
such subsidiary company(s). by the code of business ethics wherever applicable.
3. Do any other entity/entities (e.g. suppliers, distributors etc.) that All the entities that deal with Info Edge are contractually boun
the Company does business with, participate in the BR initiatives of the by Company’s Business Conduct Guidelines, that contain the ba
Company? If yes, then indicate the percentage of such entity/entities? principles and rules for conduct which is extended to its extern
[Less than 30%, 30%-60%, More than 60%] partners.
 ANNEXURE-V
NESS RESPONSIBILITY REPORT 2020-21

L74899DL1995PLC068021
Info Edge (India) Limited
Ground Floor, GF-12A 94, Meghdoot Building, Nehru Place, New Delhi
110019
[Link]
investors@[Link]
2020-21
IT Services
NIC Code 63121
(i) Online recruitment solutions;
(ii) Online real estate related services;
(iii) Online matrimony related services; and
(iv) Online education related services.

(a) Dubai, Bahrain, Riyadh, Abu Dhabi and Qatar.

(b) The Company has 70 offices as on March 31, 2021 spread in 45
cities across India.

The Company serves markets in India and parts of UAE

` 1,287,841,200
` 10,985.97 million
` 2,783.38 million
` 80.32 million being 2% of the average net profits of the company for
the last three financial years. Kindly refer Annexure IV to the Board’s
Report.
Through its CSR initiatives, Info Edge strives to provide
equitable opportunities for sustainable growth. With this idea of
shared growth, Info Edge has focussed its CSR initiatives primarily in
the field of education in this reporting year. For detailed information
relating to list of activities in which expenditure in 4 above has been
incurred, please refer the Annual
Report on CSR Activities annexed as Annexure IV to the Directors’
Yes, Report.
please refer page no. 97 of Directors’ Report
Info Edge defines the code of conduct of business ethics which is
applicable for all the subsidiary companies also. All the companies abide
by the code of business ethics wherever applicable.
All the entities that deal with Info Edge are contractually bound to abide
by Company’s Business Conduct Guidelines, that contain the basic
principles and rules for conduct which is extended to its external
partners.
Section D: BR (Business Responsibility) Information
1. Details of Director/Directors responsible for BR
a. Details of the Director/ Directors responsible for implementation of the BR policy/policies
Business Responsibility Reporting Committee (“BRRC”) of the Board of Directors of the Company is responsible for implementation of BR po
Details of BRR Committee are:

a. DIN Name of Director Designation

00678173 Mr. Chintan Thakkar Whole-time Director &
00065640 Mr. (Chairman)
Sanjeev Bikhchandani CFO
Executive Vice Chairman
01189953 Mr. Hitesh Oberoi Managing Director & CEO
Details of the BR Head
[Link]. Particulars Details
1 DIN Number (If applicable) 00678173
2 Name Mr. Chintan Thakkar
3 Designation Whole-time Director & CFO
4 Telephone no. 0120-3082000
5 E-mail id investors@[Link]
2. Principle-wise (as per NVGs) BR Policy/policies:
P1 Ethics, Transparency and Accountability Businesses should conduct and govern themselves with Ethics, Transparency and
P2 Sustainable Products and Services Accountability.
Businesses should provide goods and services that are safe and contribute to sustaina
throughout their life cycle.
P3 Employees’ well-being Businesses should promote the well-being of all employees.
P4 Stakeholder Engagement Businesses should respect the interests of, and be responsive towards all stakeholder
especially
P5 Protecting Human Rights those who are
Businesses disadvantaged,
should vulnerable
respect and promote and marginalised.
human rights.
P6 Reducing Environmental Impact Business should respect, protect and make efforts to restore environment.
P7 Responsible Policy Advocacy Businesses, when engaged in influencing public and regulatory policy, should do so in
responsible
P8 Inclusive Growth & Equitable manner.
Businesses should support inclusive growth and equitable development.
P9 Development
Providing Value to Customers Businesses should engage with and provide value to their customers and consumers in
responsible
manner.
[Link]. Questions P1 P2 P3 P4 P5 P6
1 Do you have a policy/policies for Y Y Y Y Y Y
2 Has the policy been formulated in consultation Y Y Y Y Y Y
with the relevant stakeholders?
3 Does the policy conform to any The policies are in compliance with national/international laws as applicable
national/ international standards? If yes, policies are in line with respective principles of National Guidelines on Respo
specify? (50 words) Business Conduct (NGRBC) and National Voluntary Guidelines on Social,
Environmental and Economic Responsibilities of Business (NVGs) as issued by
of Corporate Affairs, Government
4 Has the policy being approved by the Board? If Allof India.
the policies are approved by the Business Responsibility Committee of the
yes, has it been signed by the MD/owner/CEO/ All the policies are signed by the Whole-time Director & CFO who is also the
appropriate Board Director? Chairman of BRR Committee.
5 Does the Company have a specified committee Y Y Y Y Y Y
of the Board/Director/ Official to oversee
the implementation of the policy?
6 Indicate the link for the policy to be viewed [Link]
online?
7 Has the policy been formally communicated to The policies have been communicated to employees through the Intranet and
all relevant internal and external external stakeholders through the Company’s website ([Link])
stakeholders?
8 Does the Company have in-house structure Y Y Y Y Y Y
to implement the policy/policies?
9 Does the Company have a grievance redressal The Whistle Blower Mechanism adopted by the Company, provides
mechanism related to the policy/policies to employees/Customers/ Vendors/Contractors etc. to report any concerns or
address stakeholders’ grievances related to grievances pertaining to any potential or actual violation of Company’s Code
the policy/policies? Conduct and Ethics policy or any unethical behaviour. Respective business of
Company has its designated Grievance Officer for the business and a grievanc
is available on the respective business portals, where a stakeholder
10 Has the Company carried out independent can
The raise their concerns.
implementation of the policies of the Company are reviewed by the
audit/ evaluation of the working of this policy Statutory/Internal and Secretarial Audit function of the Company, as may be
by internal or external agency? respectively applicable to them.
ible for implementation of BR policies.

th Ethics, Transparency and

e safe and contribute to sustainability

loyees.
sponsive towards all stakeholders,

.alised.
restore environment.
egulatory policy, should do so in a

able development.
heir customers and consumers in a

P7 P8 P9
Y Y Y
Y Y Y

/international laws as applicable. The

s of National Guidelines on Responsible
ntary Guidelines on Social,
s of Business (NVGs) as issued by Ministry

Responsibility Committee of the Board.

e Director & CFO who is also the

Y Y Y

[Link]
ployees through the Intranet and
s website ([Link])
Y Y Y
he Company, provides
etc. to report any concerns or
ual violation of Company’s Code of
ehaviour. Respective business of the
er for the business and a grievance form
s, where a stakeholder
ompany are reviewed by the
ction of the Company, as may be
3. Governance related to BR(a) Indicate the frequency with which the Board of Directors, Committee of the Board or CEO to assess the B

Section E: Principle-wise Performance

Principle 1: Businesses should conduct and govern themselves with Ethics, Transparency and Accountability.
1. Does the policy relating to ethics, bribery
and corruption cover only the Company?
Does it extend to the Group/Joint Ventures/
Suppliers/Contractors/NGOs/ Others?

2. How many Stakeholders Complaints have

been received in the past financial year and
what percentage was satisfactorily resolved by
the management? If so, provide details thereof,
in about 50 words or so.

Principle 2: Businesses should provide goods and services that are safe and contribute to sustainability throughout their life cycle.
1. List up to 3 of your products or services
whose design has incorporated social or
environmental concerns, risks and/or
opportunities.
cate the frequency with which the Board of Directors, Committee of the Board or CEO to assess the BR performance of the Company. [Within 3 months,

ce
ct and govern themselves with Ethics, Transparency and Accountability.
Our Corporate Governance Policies extends and covers all stakeholders.
At Info Edge, we believe in performing well by doing right things. The Company has adopted the
Code of Ethics and Conduct which guides its employees and directors to conduct business in an
ethical, responsible and transparent manner. The code extends to wholly-owned subsidiaries of the
Company including business associates.
All internal & external stakeholders are expected to work within the framework of the Code of the
Company.
The Company has zero tolerance approach toward bribery and corruption. To support this, the
Company has a Gift policy, which enables employees to avoid situations in which their personal
interests may conflict or appear to conflict with the interest of the company or its customers. The
gifts received by employees are to be handed over to HR and acceptance of the gifts otherwise
than as stated in the policy is strictly prohibited.
The Company ensures compliance of ethical standards by its vendors and contractors through
appropriate clauses in its work contracts to which they are obligated. The contracts include
clauses in relation to anti- corruption law, confidentiality, human rights etc.
The code of conduct is further supported by Vigil Mechanism, which is being governed by Whistle
Blower Policy. Objective of the Policy is to establish no threat window whereby an individual, who
is aware of any Protected Disclosure in the Company, is able to raise it to the appropriate channel
as outlined in the policy, to ensure appropriate and timely institutional response and remedial
action and offer protection to such individual from victimization, harassment or disciplinary
proceedings. The Company has appointed M/s. Thought Arbitrage Consulting, as an Independent
Info EdgeOmbudsman
External Stakeholdersand
include its Employees,
the Policy Business
and Mechanism Associates,
is directly Community,
monitored by the Chairman of the
Shareholders/Investors,
Audit Committee. Customers as more specifically provided under Principle 4.
The Company being in service industry does receive customer queries/ feedback/assistance calls,
from time to time, which are duly attended to & addressed to their satisfaction. A total of 53 legal
complaints/ notices were received during the financial year. All of them have been duly resolved
or satisfactory replied to.
Please refer Corporate Governance Report for details relating to shareholders/ investor
grievances. For details on employees’ complaints, please refer Para 7 under Principle 3 of this
de goods and report.
services that are safe and contribute to sustainability throughout their life cycle.
The Company aims to have negligible negative impact on the environment by identifying ways to
optimise resource consumption in its operations, although the very nature of the businesses of the
Company has limited impact on environment.
To ensure optimal resource consumption, we have incorporated environment friendly installations
such as energy efficient equipments etc. For further details, please refer paragraph 2 under
Principle 6 of this report.
Also, the very nature of the business operations of the Company is Internet Services, providing
services amongst others like
a. online recruitment services, operating through [Link];
b. online real estate classified services, operating through [Link];
c. online matrimony classified services, operating through [Link];
d. online educational classified services, operating through [Link].
The aforesaid respective services connect online the employer and the job seeker, property buyer
and seller, prospective brides and grooms from various communities & regions and education
institutions/ foreign universities with students.
All the applications under the said portals are logged digitally. Application form submission,
relevant documents, payment, payment receipts etc. is enabled online. No paper is either filled or
submitted in the entire process.
Not only does the aforesaid is making positive social impact, but environmental impact also, using
the Internet and thereby reducing the use of limited natural resources.
In addition, the Company in view to serve and give back to the society, has come up with an
initiative- “iServe-Be the change you want to see”.
 Under the banner of iServe, InfoEdge has crafted innovative programs and formed strate
partnerships with non-governmental organisations; the aim of which is – combine human
collaboration with social connections and see the world metamorphose into a better pla
Employees of the Company can volunteer to teach academic subjects/ computer basics,
children pick up sports/ volunteer to go onsite or organise special occasions like Diwali,
day, Christmas etc.
For the aforesaid purpose, the Company has extended its support to NGOs where it has
CSR contributions for the current/previous years in discharge of its statutory CSR obliga
2. For each such product, provide the Not Applicable.
following details in respect of resource use The nature of services rendered by the Company have very limited impact on environme
(energy, water, raw material etc.) per unit of Further, the Company does not manufacture/produce any products.
product (optional):
(a) Reduction during sourcing/ production/
distribution achieved since the previous year
throughout the value chain?
(b) Reduction during usage by consumers
(energy, water) has been achieved since the
previous year?

3. Does the Company have procedures in place Info Edge, being a pure play internet Company, is relatively less resource intensive in te
for sustainable sourcing (including material inputs. However, as a responsible corporate citizen, the Company endeavours
transportation)? the environmental impact of its operations by tracking the consumption of resources cri
(a) If yes, what percentage of your inputs was part of the Info Edge’s operations, a small amount of e-waste is generated by the Comp
sourced sustainably? Also, provide details is dealt with as per the laws.
thereof, in about 50 words or so.
4. Has the Company taken any steps to The nature of Company product is service oriented and not material resource intensive
procure goods and services from local & small Company does not procure goods for further processing. The Company’s criteria for sele
producers, including communities surrounding goods and services is reliability, quality and price. The manpower services as required f
their place of work? to time for various locations of the Company are generally hired from local agencies wh
(a) If yes, what steps have been taken to possible. The Company through its community development initiatives helps NGOs like D
improve their capacity and capability of local Jagrati Sanstha, Khwaab NGO, Tamana, Society for Child Development, Literacy India et
and small vendors? The Company takes regular trainings to upgrade skills of security and housekeeping pers
5. Does the Company have a mechanism to The nature of Company’s products is service oriented and not material resource intensiv
recycle products and waste? If yes, what is the hence recycling of products is not applicable for the Company’s products. There is negli
percentage of recycling of products and waste waste generation at Company’s offices. However, the Company has procedures in place
(separately as <5%. 5-10%, >10%). Also, provide of e-waste through authorised e-waste vendors.
details thereof, in about 50 words or so.
Principle 3: Businesses should respect and promote the well-being of all employees, including those in their value chains.
1. Please indicate the total number of 4,439
employees.
2. Please indicate the total number of 156
employees hired on
temporary/contractual/casual
3. Please indicate the number basis.
of permanent 1,699
women employees.
4. Please indicate the number of permanent Info Edge is an equal opportunity employer and treats all its employees at par and doesn
employees with disabilities. specifically
number of disabled employees. However, bases on voluntary disclosures by any such em
5. Do you have an employee association that is the Company had 7 employees with disabilities. No
recognized by management?
6. What percentage of your permanent N.A.
employees is member of this recognised
employee association?
7. Please indicate the number of complaints The Company does not engage in any form of child labour/forced labour/ involuntary la
relating to child labour, forced labour, does not adopt any discriminatory employment practices. The Company has a gender ne
involuntary labour, sexual harassment in the policy against sexual harassment and a formal process for dealing with complaints of ha
last financial year and pending, as on the end of or discrimination.
the financial year.
S. No. Category No. of Complaints filed during the financial
year
1 Child labour/ forced labour/ involuntary 0
labour
2 Sexual Harassment 0
3 Discriminatory employment 0
 has crafted innovative programs and formed strategic
organisations; the aim of which is – combine human
and see the world metamorphose into a better place to live.
teer to teach academic subjects/ computer basics, help
go onsite or organise special occasions like Diwali, Children’s

ny has extended its support to NGOs where it has also made

vious years in discharge of its statutory CSR obligation.

e Company have very limited impact on environment.

facture/produce any products.

Company, is relatively less resource intensive in terms of

nsible corporate citizen, the Company endeavours to reduce
ations by tracking the consumption of resources critically. As
mall amount of e-waste is generated by the Company which

vice oriented and not material resource intensive and the

urther processing. The Company’s criteria for selection of
ty and price. The manpower services as required from time
ompany are generally hired from local agencies wherever
mmunity development initiatives helps NGOs like Divya Jyoti
a, Society for Child Development, Literacy India etc.
to upgrade skills of security and housekeeping personnel.
service oriented and not material resource intensive, and
plicable for the Company’s products. There is negligible
s. However, the Company has procedures in place to dispose
e vendors.

including those in their value chains.

4,439

156

1,699

loyer and treats all its employees at par and doesn’t track

ver, bases on voluntary disclosures by any such employee,

isabilities. No

N.A.

form of child labour/forced labour/ involuntary labour and

ployment practices. The Company has a gender neutral
a formal process for dealing with complaints of harassment

No. of complaints pending as on end of the

financial year.
0
0
0
8. What percentage of your under mentioned
employees were given safety & skill up-
gradation training in the last year?

(a) Permanent Employees

(b) Permanent Women Employees
(c) Casual/ Temporary/ Contractual
Employees
(d) Employees with Disabilities

Principle 4: Businesses should respect the interests of, and be responsive towards all stakeholders, especially those who are disadvan
vulnerable and marginalised.
1. Has the Company mapped its internal and
external stakeholders? Yes/ No
2. Out of the above, has the Company
identified the disadvantaged, vulnerable &
marginalized stakeholders?
3. Are there any special initiatives taken by
the Company to engage with the disadvantaged,
vulnerable and marginalized stakeholders? If so,
provide details thereof, in about 50 words or
so.
 During the year under review, the work trends and workforce expectations underwent a sea
change in the aftermath of Covid-19. Such challenging environment made it important to support
all necessary elements to overcome the challenges of adopting a Work from Home mode of
operations, while also taking necessary steps for supporting the business transformation underway
for the mid-to long-term development of the Company.
In addition, the Company has institutionalised learning and development processes to create right
proficiencies across levels and help employees progress in their career. The learning and
development needs are recognized through various processes which include Company’s vision
and mission, competency frameworks and training needs identified through performance
management system.
Safety of employees is of utmost importance to the Company and in this regard, mock drills are
conducted every year in addition to periodic communication and alerts that are sent to employees
on safety related aspects. In addition, Company imparts training to all the employees of the
organisation on Prevention of Sexual Harassment at Workplace and conducts a session for all the
managers to train them on their action, as and when someone from their team report any such act
of sexual harassment.
All new employees undergo mandatory induction/orientation programme, named as “Infoduction”.
Employees at junior, mid and senior levels undergo need-based trainings apart from functional skill
programmes. Senior level employees participate in the leadership re-treat, held annually.
In addition, the Company recognises importance of continuous learning and in view of the same
has initiated a program named as “i-learn” in which the employees of the Company across all work
100%
levels can choose a course of their choice, which will help them perform their functions better.
The cost of such courses are reimbursed 100%
by the Company to employee on completion of course.
100%

100%

ct the interests of, and be responsive towards all stakeholders, especially those who are disadvantaged,

Yes

Yes

Info Edge carries out continuous interaction and engagement with all Internal & External
stakeholders including the disadvantaged, vulnerable and marginalized stakeholders in
accordance with the Stakeholder Engagement Policy of the Company.
Brief of stakeholder engagement is as below:
1. Employees Stakeholder Group:
a. The Company has processes in place to uphold the rights of all the employees and protect
them from any kind of discrimination.
b. Employees’ Surveys are conducted periodically- e.g. HR Survey, IT services related survey,
Administration Services related survey etc.
c. Various learning and development activities/ trainings are held to ensure skill enhancement of
all the employees.
d. A Town Hall was conducted to engage with the employees of the Company.
2. Business Associate Stakeholder Group:
Various virtual meetings were held with the vendors of the Company to ensure continuous
interaction with them.
3. Community Stakeholder Group:
The Company through its CSR initiatives focuses on Health, Education, Women and Children
(underprivileged) empowerment, Training and empowering people with disabilities thereby
creating employment opportunities, Rehabilitation Services, Sustainable Livelihood- Vocational
Skills.
4. Shareholders/ Investor Stakeholder Group:
a. The Company has framed policy for Redressal of Investor Grievences.
b. The Company attends various Investor/Analysts Meets, holds Investor Calls etc. and transcripts
and voice recordings of such calls are available on the portal of the Company.
c. Company also interacts with the shareholders/ Investors through Newspaper Publications,
Stock Exchange disclosures, Annual Reports etc.
Principle 5: Businesses should respect and promote human rights
1. Does the policy of the Company on human
rights cover only the Company or extend to the
Group/Joint Ventures/ Suppliers/ Contractors/
NGOs/Others?

2. How many stakeholders’ complaints have

been received in the past financial year and
what percent was satisfactorily resolved by the
management?
Principle 6: Businesses should respect, protect and make efforts to restore environment
1. Does the policy related to Principle 6 cover
only the Company or extends to the Group/
Joint Ventures/ Suppliers/ Contractors/ NGOs/
others?
2. Does the Company have
strategies/initiatives to address global
environmental issues such as climate change,
global warming, etc.?
Y/N. If yes, please give hyperlink for webpage e
tc.
3. Does the Company identify and assess
potential environment risks? Y/N

4. Does the Company have any project

related to Clean Development Mechanism? If so,
provide details therefor, in about 50 words or
so. Also, if yes, whether any environmental
compliance report is filed?
5. Has the Company undertaken any
initiatives on – clean technology, energy
efficiency, renewable energy, etc.
Y/N. If yes, please give hyperlink for web page 
etc.
6. Are the Emissions/ Waste generated by the
company within the permissible limits given by
CPCB/ SPCB for the financial year being
reported?
7. Number of show cause/ legal notices
received from CPCB/SPCB which are pending
(i.e. not resolved to satisfaction) as on end of
Financial Year.

Principle 7: Businesses, when engaged in influencing public and regulatory policy, should do so in a responsible manner
1. Is your Company a member of any trade
and chamber or association? If yes, Name only
those major ones that your business deals with.

2. Have you advocated/ lobbied through

above associations for the advancement or
improvement of public good? Yes/ No; if yes
specify the broad areas (drop box:
Governance and Administration, Economic
Reforms, Inclusive Development Policies,
Energy Security, Water, Food Security,
Sustainable Business Principles, Others)
Principle 8: Businesses should support inclusive growth and equitable development
1. Does the Company have specified
programmes/initiatives/projects in pursuit of
the policy related to Principle 8? If yes, details
thereof.

2 Are the programmes/projects undertaken

through in-house team/own foundation/
external NGO/government structures/any other
organisation?

3. Have you done any impact assessment of

your initiative?
4. What is your Company’s direct contribution
to community development projects- Amount in
INR and the details of the projects undertaken.

5. Have you taken steps to ensure that this

community development initiative is
successfully adopted by the community? Please
explain in 50 words, or so.
Principle 9: Businesses should engage with and provide value to their customers and consumers in a responsible manner
1. What percentage of customer
complaints/ consumer cases are pending as on
the end of financial year?
2. Doesthe
Companydisplayproductinformation on the
product label, over and above what is mandated
as per local laws? Yes/No/N.A./ Remarks
(additional information)

3. Is there any case filed by any stakeholder

against the Company regarding unfair trade
practices, irresponsible advertising and/or
anti-competitive behaviour during the last
five years and pending as on end of financial
year. If so, provide details thereof, in about 50
words or so.
4. Did your Company carry out any consumer
survey/ consumer satisfaction trends?

DISCLOSURE OF PARTICULARS WITH REGARD TO CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE
[Information pursuant to Rule 8 of Companies (Accounts) Rules, 2014]
Conservation of Energy
In view of the nature of activities that are being carried on by the Company, the provisions of the Companies (Accounts) Rules, 2014
energy are not applicable to the Company. Info Edge (India) Ltd. requires minimal energy consumption and does not use motive powe
made to ensure that energy efficient equipment is used to avoid wastage and conserve energy, as far as possible. Some of the signific
the Company on a continuous basis including during the year, are listed below:
i. Installation & Commissioning of 50 kW Rooftop Solar Power Plant.
ii. Corporate Office is IGBC Silver Certified Green Existing Building for the enhanced performance in Site & Facility Management, W
Efficiency, Health & Comfort and Innovation & Design categories.
iii. Optimization of Water Consumption by Installation of arrestors and streamline the annual water tank cleaning process.
iv. Addition of VFD’s in our HVAC system, which helps to reduce the electrical energy consumption.
v. Implementation of “Laser Egg”, a device for instant air quality monitor indicating parameters like AQI, PM2.5 etc.
vi. Implementation of a solution to have good quality air inside our office having lower values of PM2.5 than WHO & Indian Standard
vii. Distribution of N-95 Particulate Respirator (Mask) from 3M to our Sales Team.
viii. Planned Preventive Maintenance (PPM) schedule put in place for electro-mechanical equipments.
ix. Regular monitoring of temperature inside the buildings and controlling the air-conditioning System.
x. Rationalization of usage of electrical equipments– air-conditioning system, office illumination, beverage dispensers, desktops.
xi. Signage timings rationalization.
xii. Usage of energy efficient illumination fixtures.
xiii. Power factor rationalization.
Research and Development (R&D)
Today’s world is living in a digital era, and organisations across the globe are embracing ‘Digital Technologies’ to remain relevant, co
delivering a superior customer experience and therefore, Research & Development of new services, designs, frameworks, processes a
be of importance to the Company. Info Edge (India) Ltd. operates in the dynamic internet/information technology industry, where ne
continuous basis. The Company evaluate these developments on a continuous basis & factor-in their suitability to it. This allows us to
and customer satisfaction through continuous improvements/innovation. Today, Info Edge is deep into AI, big data, machine learning
CVs and the cloud.
i) R&D initiative
At your Company, the emphasis on smart technology is greater than ever before, and it will be even greater still with every passing y
constantly keeps working to optimize the existing software applications and hardware on a continuous basis.
ii) Specific areas for R&D at the Company & the benefits derived there from
The Company has a dedicated team which continuously researches the technology/business trends in the Market and build new innov
has worked on bringing about significant improvements in all our products and releases significantly enhanced products from time to
Company is on applying new technologies to deliver value to its customers. Introduction of cutting edge technological initiatives like
learning, semantic search for analysing CVs and the cloud have transformed our feet-on-street client interactions to more technology
For example, MI is central to understanding the data and the behaviour that consumers create on our sites. These algorithms have he
semantics of important data types such as companies, institutes, designations and skills-thus enabling us to go beyond keywords to re
This enables us to provide a personalized semantic experience to users when they use the search and recommendation systems.
Another example of such technologically-driven transformation is the Recruitment Management System (RMS) on [Link]. RMS pro
that want to hire and Human Resource consultants. RMS provides a one-stop intelligent solution that organises all the resumes in one
recruiters are doing, and thus become like a recruitment ERP which powers all hiring at the client’s end.
Another example is the match-making algorithms that are driving [Link]. These sit in the background and continuously inte
by over 90% of [Link] users.
iii) Future plan of action
We constantly keep working on finding/evaluating new technologies, processes, frameworks and methodologies to enable us in impro
offerings and user satisfaction. We have a pipeline of new initiatives that are being developed and launched.
In case of imported technology (imported during the last three years reckoned from the beginning of the financial year):
learning, semantic search for analysing CVs and the cloud have transformed our feet-on-street client interactions to more technology
For example, MI is central to understanding the data and the behaviour that consumers create on our sites. These algorithms have he
semantics of important data types such as companies, institutes, designations and skills-thus enabling us to go beyond keywords to re
This enables us to provide a personalized semantic experience to users when they use the search and recommendation systems.
Another example of such technologically-driven transformation is the Recruitment Management System (RMS) on [Link]. RMS pro
that want to hire and Human Resource consultants. RMS provides a one-stop intelligent solution that organises all the resumes in one
recruiters are doing, and thus become like a recruitment ERP which powers all hiring at the client’s end.
Another example is the match-making algorithms that are driving [Link]. These sit in the background and continuously inte
by over 90% of [Link] users.
iii) Future plan of action
We constantly keep working on finding/evaluating new technologies, processes, frameworks and methodologies to enable us in impro
offerings and user satisfaction. We have a pipeline of new initiatives that are being developed and launched.
In case of imported technology (imported during the last three years reckoned from the beginning of the financial year):
a) The details of the technology imported: N.A.
b) The year of import: N.A.
c) Whether the technology been fully absorbed: N.A.
d) If not fully absorbed, areas where absorption has not taken place, and the reasons thereof: N.A.

iv) Expenditure on R&D for the year ended March 31, 2021
Our Research and Development activities are not capital intensive and we do not specifically provide for the same in our books. Howe
to make our Products highly scalable and secure. Work is also on towards developing new business capabilities/modules/products to c
Company.
 5. Customer Stakeholder Group:
The Customers/ Clients of the Company are expected to work within the framework of the Code of
Ethics & Conduct of the Company. The Grievance Forms are available at respective business
portals of the Company in addition to the feedback forms. Respective Business portals has toll free
number, through which a customer can approach the Company.

ct and promote human rights

The Company’s policy on Human Rights lays emphasis on non-discrimination among employees,
meritocracy and mechanisms for redressal of employee issues applies across the Company and its
subsidiaries. Info Edge is committed to ensure that people are treated with respect and dignity.
Our respect for human rights guides our policies and practices dealing with our operations,
partnerships, contracts and investment agreements. While mutual agreements assure stakeholders
such as vendors and suppliers of protection against human rights violations, all our employees are
introduced to these policies during induction. The Code of Ethics and Conduct also covers
guidelines on Human Rights, Ethics, Corruption, Bribery, Transparency and Environment.
All employees and contractual staff is empowered to report any incident of discrimination
and harassment. The Company does not employ child labour. We have grievance redressal channels
to deal with issues related to discrimination, retaliation and harassment. The Company has
constituted an Internal Committee to address complaints of sexual harassment raised by
employees. There is an effective whistle blower mechanism put in place by the Company which is
managed by an independent external ombudsman to provide complete anonymity and
confidentiality.
Also, we, at Info Edge, encourage its Business Partners to follow the policy. We discourage dealing
with any supplier/contractor if it is in violation of human rights, and also prohibit the use of forced
or child labour.
No incidence of discrimination or human rights violation was received by the Company or was
pending investigation as on March 31, 2021. No sexual harassment complaints have been received
from the employees of the Company. For further details, please refer paragraph 7 under Principle
3 of this report.
ct, protect and make efforts to restore environment
The aspects outlined under this principle are not substantially relevant to the Company given the
nature of its business. The Company complies with the applicable environmental regulations in
respect of its premises and operations. Also, the Company participates in initiatives towards
addressing environmental issues.
The Company has always been striving towards imbibing green sustainable products, processes and
practices. The Company continuously endeavours to reduce the environmental impacts of its own
operations. The Company focuses on improving energy efficiency, use of renewable energy,
procurement of greener products and waste recycling. The Company aims to reduce the impact on
the environment by identifying ways to optimise resource consumption in its operations although
the very nature of the businesses of the Company has limited impact on environment.
To ensure optimal resource consumption, we have incorporated environment friendly installations
such as energy efficient equipment including:
1. Installation & Commissioning of 50 kW Rooftop Solar Power Plant.
2. Corporate Office is IGBC Silver Certified Green Existing Building for the enhanced performance
in Site & Facility Management, Water Efficiency, Energy Efficiency, Health & Comfort and
Innovation & Design categories.
3. Optimization of Water Consumption by Installation of arrestors and streamline the annual
water tank cleaning process.
4. Replacement of conventional lights to LED lights in the offices across all the locations.
5. The Company uses Automated Energy Monitoring & Control Product named as “Zenatix”,
which enables monitor, configuration and control of the electrical devices of the organisation.
6. The Company uses star rated and energy efficient ACs and Diesel Gensets.
7. Automatic server and desktop shutdown, to reduce consumption of energy, in addition to
constant mailers to remind & encourage energy saving.
8. Initiatives to reduce usage of virgin paper and consumption and promotion of recycle.
9. Responsible e-waste disposal.
10. Usage of Video Conferences, Video/ Audio chatting to reduce emissions as a result of travel.
11. Company provides shuttle services and encourages car pool to save fuel & reduce pollution,
thereby protecting the environment.
 Though the very nature of the businesses of the Company has limited impact on environment, the
Company continuously aims to reduce even the limited impact on the environment by identifying
ways to optimise resource consumption in its operations.
The Company understands the potential environmental risks and participates in initiatives as
mentioned above to address the environmental concerns. We also comply with applicable
environmental regulations, wherever applicable, in respect of its premises and operations.
Not Applicable

Please refer paragraph 2 above

Not Applicable

There was no legal notice received during the year that remain outstanding as on March 31, 2021.

ed in influencing public and regulatory policy, should do so in a responsible manner

Yes, it is a part of NASSCOM and Internet And Mobile Association of India (IAMAI).

Info Edge believes that it is necessary to represent to and engage with authorities on matters
concerning the various businesses in which Company operates. The engagement with the relevant
authorities is guided by the values of commitment, integrity, transparency and need to balance
interests of diverse stakeholders.
Accordingly, the Company shares its views/comments on proposed policy formulations
through appropriate forums whenever required on matters relating to its business including but not
limited to Digital India, Security Policy, Cyber Crimes, Start-up India and Tax Administration etc.
or on matters of corporate governance.
rt inclusive growth and equitable development
The Company has put in place Policy on Corporate Social Responsibility to guide its efforts on CSR
initiatives that contribute to inclusive growth and equitable development.
Info Edge CSR Policy outlines the Company’s philosophy & the mechanism for undertaking socially
useful programmes for welfare & sustainable development of the community at large as part of its
duties as a responsible corporate citizen. For detailed information relating to list of activities in
which contribution in 4 below has been incurred, please refer the Annual Report on CSR Activities
annexed as Annexure IV to the Directors’ Report.
The Company engages with NGOs/ other organisations/Trusts along with its in-house team to
ensure that the Company achieves its vision of promoting inclusive growth.
In addition, the Company in view to serve and give back to the society, has come up with an
initiative- “iServe-Be the change you want to see”. For further details, please see paragraph 1
under Principle 2 hereinabove.
The Company periodically reviews the impact of its initiatives. The CSR Committee at the end of
the year understand the efficacy of the programme in terms of delivery of desired benefits to the
community.
The Company has earmarked `80.32 million towards various CSR initiatives during the year 2020-
21. For detailed information relating to list of activities in which expenditure above has been
incurred, please refer the Annual Report on CSR Activities annexed as Annexure IV to the
Directors’ Report.
Info Edge’s CSR initiatives are rolled out directly or in partnership with non-profit organisations.
This helps in increasing reach as well as ensuring the adoption of initiative by communities.
Company’s Representatives track the reach and take necessary steps to make it successful.
Further, the CSR projects are evaluated by the CSR Committee to ensure maximum impact of their
initiatives.
e with and provide value to their customers and consumers in a responsible manner
 There are 6 consumer cases going on in consumer courts in different parts of the country.

Since the Company is not into manufacturing of products (packaged commodities), the
requirement of displaying product labelling is not applicable to its service offerings directly to its
products. The Company enables its business customers to make informed decisions about the
different products of different business units of the Company by providing them correct and
transparent information. The product features and price/charges are informed to the customers
before the transaction.
There
Productis information
no case against theavailable
is also Companyonduring the last 5 business
the respective years, relating
portalstoofunfair trade practices,
the Company.
irresponsible advertising and/or anti-competitive behaviour.

The Company recognises that constant feedback is vital in providing great services. The Company
on a continuous basis measures satisfaction levels of customers. Businesses of the Company has a
feedback form on their respective portals, where a customer can freely give its feedback on the
services being offered by the Company. Necessary and time bound corrective actions are taken by
the Company to improve customer experience.
S WITH REGARD TO CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO
[Information pursuant to Rule 8 of Companies (Accounts) Rules, 2014]

s that are being carried on by the Company, the provisions of the Companies (Accounts) Rules, 2014 concerning conservation of
Company. Info Edge (India) Ltd. requires minimal energy consumption and does not use motive power. However, every effort is
cient equipment is used to avoid wastage and conserve energy, as far as possible. Some of the significant measures undertaken by
sis including during the year, are listed below:
g of 50 kW Rooftop Solar Power Plant.
ver Certified Green Existing Building for the enhanced performance in Site & Facility Management, Water Efficiency, Energy
d Innovation & Design categories.
sumption by Installation of arrestors and streamline the annual water tank cleaning process.
AC system, which helps to reduce the electrical energy consumption.
gg”, a device for instant air quality monitor indicating parameters like AQI, PM2.5 etc.
on to have good quality air inside our office having lower values of PM2.5 than WHO & Indian Standards guidelines on Ambient Air.
late Respirator (Mask) from 3M to our Sales Team.
nance (PPM) schedule put in place for electro-mechanical equipments.
perature inside the buildings and controlling the air-conditioning System.
electrical equipments– air-conditioning system, office illumination, beverage dispensers, desktops.
tion.
lumination fixtures.
n.
&D)
al era, and organisations across the globe are embracing ‘Digital Technologies’ to remain relevant, compete effectively while also
xperience and therefore, Research & Development of new services, designs, frameworks, processes and methodologies continue to
y. Info Edge (India) Ltd. operates in the dynamic internet/information technology industry, where new developments’ happen on a
evaluate these developments on a continuous basis & factor-in their suitability to it. This allows us to enhance quality, productivity
gh continuous improvements/innovation. Today, Info Edge is deep into AI, big data, machine learning, semantic search for analysing

on smart technology is greater than ever before, and it will be even greater still with every passing year. Our Technical Team
mize the existing software applications and hardware on a continuous basis.
e Company & the benefits derived there from
am which continuously researches the technology/business trends in the Market and build new innovative capabilities. Our team
nificant improvements in all our products and releases significantly enhanced products from time to time. The Key focus of the
hnologies to deliver value to its customers. Introduction of cutting edge technological initiatives like AI, big data, machine
alysing CVs and the cloud have transformed our feet-on-street client interactions to more technology driven client support.
derstanding the data and the behaviour that consumers create on our sites. These algorithms have helped us understand the
es such as companies, institutes, designations and skills-thus enabling us to go beyond keywords to real meaning of these terms.
onalized semantic experience to users when they use the search and recommendation systems.
logically-driven transformation is the Recruitment Management System (RMS) on [Link]. RMS provides access to companies
source consultants. RMS provides a one-stop intelligent solution that organises all the resumes in one place, search and track what
ecome like a recruitment ERP which powers all hiring at the client’s end.
making algorithms that are driving [Link]. These sit in the background and continuously interact with the mobile app used
users.

inding/evaluating new technologies, processes, frameworks and methodologies to enable us in improving the quality of our
We have a pipeline of new initiatives that are being developed and launched.
imported during the last three years reckoned from the beginning of the financial year):
 alysing CVs and the cloud have transformed our feet-on-street client interactions to more technology driven client support.
derstanding the data and the behaviour that consumers create on our sites. These algorithms have helped us understand the
es such as companies, institutes, designations and skills-thus enabling us to go beyond keywords to real meaning of these terms.
onalized semantic experience to users when they use the search and recommendation systems.
logically-driven transformation is the Recruitment Management System (RMS) on [Link]. RMS provides access to companies
source consultants. RMS provides a one-stop intelligent solution that organises all the resumes in one place, search and track what
ecome like a recruitment ERP which powers all hiring at the client’s end.
making algorithms that are driving [Link]. These sit in the background and continuously interact with the mobile app used
users.

inding/evaluating new technologies, processes, frameworks and methodologies to enable us in improving the quality of our
We have a pipeline of new initiatives that are being developed and launched.
imported during the last three years reckoned from the beginning of the financial year):
gy imported: N.A.

en fully absorbed: N.A.

where absorption has not taken place, and the reasons thereof: N.A.

 year ended March 31, 2021
activities are not capital intensive and we do not specifically provide for the same in our books. However, constant work is going on
able and secure. Work is also on towards developing new business capabilities/modules/products to cater to customers of the
 INFORMATION REGARDING THE EMPLOYEES STOCK OPTION SCHEMES
PARTICULARS
Options/Stock Appreciation Rights outstanding at beginning of year (April 1, 2020)
Add:
Options/Stock Appreciation Rights Granted
Sub-total 1
Less:
Options/Stock Appreciation Rights Exercised
Options/Stock Appreciation Rights lapsed/Forfeited
Options/Stock Appreciation Rights expired
Sub-total 2
Options/Stock Appreciation Rights outstanding at the end of year (Sub-total 1-2)
Options/Stock Appreciation Rights exercisable at the end of year (March 31, 2021)
Total number of shares arising as a result of exercise of option
Money realised by exercise of options (Inclusive of tax)
Options/SAR Vested:
During the financial year 2020-21, an aggregate of 419,630 options vested in the respective grantees.
Variation of terms of Options/SAR:
No variation was made during the year to the terms of the Options/SARs granted to the Eligible Employees.
Exercise Price:
During the financial year 2020-21 ESOPs/SARs were exercised under the ESOP Scheme of 2007 & 2015 at the following prices:
Exercise Price Range (`) No. of ESOPs/SARs Exercised
0-300 89,125
301-600 -
601-900 91,875
901-Above 60,706
Total 241,706
Employee wise details of the options granted to:
(i) Key Managerial Personnel:
KEY MANAGERIAL PERSONNEL
Managing Director & CEO
Whole-time Director
Whole-time Director & CFO
Company Secretary
* Managing Director & CEO and Whole-time Director, also being Promoters of the Company are not entitled to participate in the ESOP
(ii) Any other employee who receives a grant of options in any one year of option amounting to five percent or more of options
Nil
(iii) Identified employees who were granted option, during any one year, equal to or exceeding one percent of the issued capit
warrants and conversions) of the Company at the time of grant. – Nil
Other Details-

1 Earnings Per share (EPS)

2 Method of calculation of employee compensation cost

3 Difference, if any, between employee compensation cost

(calculated using the intrinsic value of stock options) and the
employee compensation cost (calculated on the fair value of the
4 The impact of this difference on profits and on EPS of the Company
options)
5a Weighted-average exercise prices of options whose exercise price –
• either equals market price; or
• exceeds market price ; or
• is less than the market price of the stock; or
 REGARDING THE EMPLOYEES STOCK OPTION SCHEMES
NUMBER
year (April 1, 2020) 1,519,068

120,800
1,639,868

241,706
84,537
-
326,243
ar (Sub-total 1-2) 1,313,625
ar (March 31, 2021) 773,718
194,291
300,941,665

0 options vested in the respective grantees.

e Options/SARs granted to the Eligible Employees.

sed under the ESOP Scheme of 2007 & 2015 at the following prices:
No. of ESOPs/SARs Exercised
89,125
-
91,875
60,706
241,706

NUMBER
N.A.*
N.A.*
Nil
Nil
being Promoters of the Company are not entitled to participate in the ESOP Scheme of the Company.
s in any one year of option amounting to five percent or more of options granted during that year. –

ring any one year, equal to or exceeding one percent of the issued capital (including outstanding
of grant. – Nil

Basic - `21.47 , Diluted - `21.32

The Company has calculated the employee compensation cost using
the Fair Value of Black-Scholes options pricing model.
Not Applicable

Not Applicable
ESOPs/SARs
3,434.62
0.00
3,277.37
5 b Weighted fair values of options whose exercise price –
• either equals market price; or
• exceeds market price ; or
• is less than the market price of the stock
6 Description of method & significant assumptions used during the
year to estimate value of options including the following weighted-
average information:
i) risk-free interest rate;
ii) expected life (in years);
iii) expected volatility
iv) expected dividend yield
v) The price of the underlying share in the market at the time
of option grant.
7 Impact on the profits and EPS if the Company had followed the
accounting policies specified in Clause 13 of the SEBI ESOP
Guidelines
ESOPs/SARs
1307.39
0.00
3,223.61
ESOPs/SARs

5.24%
4.29
39.68
0.24%
3419.39

N.A
4
143 AUDITORS’ REPORT (STANDALONE)
149 BALANCE SHEET (STANDALONE)
150 STATEMENT OF PROFIT & LOSS (STANDALONE)
151 CASH FLOW STATEMENT (STANDALONE)
153 NOTES TO FINANCIAL STATEMENT (STANDALONE)
 INDEPENDENT AUDITOR’S REPORT
To the Members of Info Edge (India) Limited
Report on the Audit of the Standalone Ind AS Financial Statements Opinion
We have audited the accompanying standalone Ind AS financial statements of Info Edge (India) Limited (“the Company”), which comp
March 31 2021, the Statement of Profit and Loss, including the statement of Other Comprehensive Income, the Cash Flow Statement
in Equity for the year then ended, and notes to the standalone Ind AS financial statements, including a summary of significant accoun
explanatory information.
In our opinion and to the best of our information and according to the explanations given to us, the aforesaid standalone Ind AS finan
information required by the Companies Act, 2013, as amended (“the Act”) in the manner so required and give a true and fair view in
accounting principles generally accepted in India, of the state of affairs of the Company as at March 31, 2021, its profit including oth
cash flows and the changes in equity for the year ended on that date.

Basis for Opinion

We conducted our audit of the standalone Ind AS financial statements in accordance with the Standards on Auditing (SAs), as specifie
Act. Our responsibilities under those Standards are further described in the ‘Auditor’s Responsibilities for the Audit of the standalone
section of our report. We are independent of the Company in accordance with the ‘Code of Ethics’ issued by the Institute of Chartere
together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act and
have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the au
is sufficient and appropriate to provide a basis for our audit opinion on the standalone Ind AS financial statements.
Key Audit Matters
Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the standalone Ind A
financial year ended March 31, 2021. These matters were addressed in the context of our audit of the standalone Ind AS financial sta
forming our opinion thereon, and we do not provide a separate opinion on these matters. For each matter below, our description of h
matter is provided in that context.
We have determined the matter described below to be the key audit matter to be communicated in our report. We have fulfilled the
the Auditor’s responsibilities for the audit of the standalone Ind AS financial statements section of our report, including in relation to
audit included the performance of procedures designed to respond to our assessment of the risks of material misstatement of the sta
statements. The results of our audit procedures, including the procedures performed to address the matter below, provide the basis
accompanying standalone Ind AS financial statements.

Key audit matters

Impairment of non-current investments (as described in Note 35 of the standalone Ind AS financial statements)
At March 31, 2021, the investments in non-current investments amount to
`15,000.37 Mn.
The management assesses at least annually, the existence of impairment
indicators of each non-current investments, and in case of such existence,
these assets are subject to an impairment test.
The basis of impairment of non-current investments is presented in the
accounting policies in Note 2.16 to the standalone Ind AS financial
statements.
During the current year, impairment indicators were identified by
the management on the investments in 1 subsidiary amounting to Rs.32.24
Mn. As a result, an impairment assessment was required to be performed
by the Company by comparing the carrying value of these investments to
their recoverable amount to determine whether an impairment was
required to be recognised.
For the purpose of the above impairment testing, recoverable amount has
been determined by reference to the underlying expected cash flows from
the underlying business activities being undertaken by these subsidiaries.
Further, the determination of the recoverable amount of the investments
in the 1 subsidiary involved judgment due to inherent uncertainty in the
assumptions supporting the recoverable amount of these investments.
Accordingly, the impairment of investments in 1 subsidiary was
determined to be a key audit matter in our audit of the standalone Ind AS
financial statements.

Information Other than the 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
not include the standalone Ind AS financial statements and our auditor’s report thereon.
Our opinion on the standalone Ind AS financial statements does not cover the other information and we do not express any form of as
In connection with our audit of the standalone Ind AS financial statements, our responsibility is to read the other information and, in
such other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise a
misstated. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, w
fact. We have nothing to report in this regard.
Responsibilities of Management for the Standalone Ind AS Financial Statements
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
financial statements that give a true and fair view of the financial position, financial performance including other comprehensive inc
in equity of the Company in accordance with the accounting principles generally accepted in India, including the Indian Accounting S
under section 133 of the Act read with the Companies (Indian Accounting Standards) Rules, 2015, as amended. This responsibility also
adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for prev
and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reaso
design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the ac
the accounting records, relevant to the preparation and presentation of the standalone Ind AS financial statements that give a true a
material misstatement, whether due to fraud or error.
In preparing the standalone Ind AS financial statements, management is responsible for assessing the Company’s ability to continue a
as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends 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 Standalone Ind AS Financial Statements
Our objectives are to obtain reasonable assurance about whether the standalone Ind AS financial statements as a whole are free from
whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assu
that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise fr
considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of us
standalone Ind AS financial statements.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the a
• Identify and assess the risks of material misstatement of the standalone Ind AS financial statements, whether due to fraud or err
procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. T
material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intent
misrepresentations, or the override of internal control.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the
143(3)(i) of the Act, we are also responsible for expressing our opinion on whether the Company has adequate internal financial contr
statements in place and the operating effectiveness of such controls.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures
• Conclude on the appropriateness of management’s use of the going concern basis of accounting and, based on the audit evidence
uncertainty exists related to events or conditions that may cast significant doubt on the Company’s ability to continue as a going con
material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial state
are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s repo
conditions may cause the Company to cease to continue as a going concern.
• Evaluate the overall presentation, structure and content of the standalone Ind AS financial statements, including the disclosures
Ind AS 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 an
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 regardin
communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where
safeguards.
From the matters communicated with those charged with governance, we determine those matters that were of most significance in
Ind AS financial statements for the financial year ended March 31, 2021 and are therefore the key audit matters. We describe these m
unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a
communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public inte
communication.
Report on Other Legal and Regulatory Requirements
1. As required by the Companies (Auditor’s Report) Order, 2016 (“the Order”), issued by the Central Government of India in terms
143 of the Act, we give in the “Annexure 1” a statement on the matters specified in paragraphs 3 and 4 of the Order.
2. As required by Section 143(3) of the Act, we report that:
(a) We have sought and obtained all the information and explanations which to the best of our knowledge and belief were necessary
(b) In our opinion, proper books of account as required by law have been kept by the Company so far as it appears from our examina
(c) The Balance Sheet, the Statement of Profit and Loss including the Statement of Other Comprehensive Income, the Cash Flow Sta
Changes in Equity dealt with by this Report are in agreement with the books of account;

(d) In our opinion, the aforesaid standalone Ind AS financial statements comply with the Accounting Standards specified under Se
Companies (Indian Accounting Standards) Rules, 2015, as amended;
(e) On the basis of the written representations received from the directors as on March 31, 2021 taken on record by the Board of
directors is disqualified as on March 31, 2021 from being appointed as a director in terms of Section 164 (2) of the Act;
(f) With respect to the adequacy of the internal financial controls with reference to these standalone Ind AS financial statement
effectiveness of such controls, refer to our separate Report in “Annexure 2” to this report;
(g) In our opinion, the managerial remuneration for the year ended March 31, 2021 has been paid / provided by the Company to
with the provisions of section 197 read with Schedule V to the Act;
(h) With respect to the other matters to be included in the Auditor’s Report in accordance with Rule 11 of the Companies (Audit
amended in our opinion and to the best of our information and according to the explanations given to us:
i. The Company has disclosed the impact of pending litigations on its financial position in its standalone Ind AS financial statem
standalone Ind AS financial statements;
ii. The Company did not have any long-term contracts including derivative contracts for which there were any material foresee
iii. There has been no delay in transferring amounts, required to be transferred, to the Investor Education and Protection Fund

For S.R. Batliboi & Associates LLP Chartered Accountants

ICAI Firm Registration Number: 101049W/E300004

______________________________ per Yogesh Midha Partner

Membership Number: 094941 UDIN: 21094941AAAACG7329
Place: New Delhi Date: June 21, 2021
 Statements Opinion
ancial statements of Info Edge (India) Limited (“the Company”), which comprise the Balance sheet as at
ng the statement of Other Comprehensive Income, the Cash Flow Statement and the Statement of Changes
alone Ind AS financial statements, including a summary of significant accounting policies and other

ording to the explanations given to us, the aforesaid standalone Ind AS financial statements give the
ended (“the Act”) in the manner so required and give a true and fair view in conformity with the
state of affairs of the Company as at March 31, 2021, its profit including other comprehensive income, its
on that date.

al statements in accordance with the Standards on Auditing (SAs), as specified under section 143(10) of the
er described in the ‘Auditor’s Responsibilities for the Audit of the standalone Ind AS Financial Statements’
ny in accordance with the ‘Code of Ethics’ issued by the Institute of Chartered Accountants of India
to our audit of the financial statements under the provisions of the Act and the Rules thereunder, and we
ance with these requirements and the Code of Ethics. We believe that the audit evidence we have obtained
dit opinion on the standalone Ind AS financial statements.

onal judgment, were of most significance in our audit of the standalone Ind AS financial statements for the
e addressed in the context of our audit of the standalone Ind AS financial statements as a whole, and in
parate opinion on these matters. For each matter below, our description of how our audit addressed the

he key audit matter to be communicated in our report. We have fulfilled the responsibilities described in
one Ind AS financial statements section of our report, including in relation to the matter. Accordingly, our
o respond to our assessment of the risks of material misstatement of the standalone Ind AS financial
g the procedures performed to address the matter below, provide the basis for our audit opinion on the

How our audit addressed the key audit matter

35 of the standalone Ind AS financial statements)
Our audit procedures included and were not limited to the following:
• We understood, evaluated and tested the operating effectiveness
of internal controls implemented by the Company relating to
identification of impairment indicators and valuation of non-current
investments.
• We evaluated the Company’s valuation methodology applied in
determining the recoverable amount. In making this evaluation, we also
assessed the objectivity and independence of Company’s specialists
involved in the process.
• We evaluated the assumptions around the key drivers of the cash flow
forecasts including estimated reserves, discount rates, expected growth
rates and terminal growth rates used with assistance from our valuation
specialists.
• We assessed the valuation methodology including recent secondary
market transactions and the key assumptions adopted in the cash flow
forecasts considering current economic scenario, including retrospective
reviews to prior year’s forecasts against actual results.
• We assessed the key assumptions to external market data or
other supporting evidence including discount rates, expected growth rates
and terminal growth rates with assistance from our valuation specialists;
• We discussed potential changes in key drivers as compared to previous
year
/ actual performance with management to evaluate the suitability of
inputs and assumptions used in the cash flow forecasts.
• We tested the arithmetical accuracy of the models.
• We
Auditor’s Report assessed the adequacy of the disclosures made in the
Thereon
other information. The statements.
financial other information comprises the information included in the Annual report, but does
nd our auditor’s report thereon.
s does not cover the other information and we do not express any form of assurance conclusion thereon.
ancial statements, our responsibility is to read the other information and, in doing so, consider whether
e financial statements or our knowledge obtained in the audit or otherwise appears to be materially
conclude that there is a material misstatement of this other information, we are required to report that

AS Financial Statements
matters stated in section 134(5) of the Act with respect to the preparation of these standalone Ind AS
financial position, financial performance including other comprehensive income, cash flows and changes
ing principles generally accepted in India, including the Indian Accounting Standards (Ind AS) specified
dian Accounting Standards) Rules, 2015, as amended. This responsibility also includes maintenance of
visions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds
ropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the
ternal financial controls, that were operating effectively for ensuring the accuracy and completeness of
presentation of the standalone Ind AS financial statements that give a true and fair view and are free from

management is responsible for assessing the Company’s ability to continue as a going concern, disclosing,
g the going concern basis of accounting unless management either intends to liquidate the Company or to
o so.
ing the Company’s financial reporting process.

ne Ind AS Financial Statements

whether the standalone Ind AS financial statements as a whole are free from material misstatement,
eport that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee
ys detect a material misstatement when it exists. Misstatements can arise from fraud or error and are
hey could reasonably be expected to influence the economic decisions of users taken on the basis of these

rofessional judgment and maintain professional skepticism throughout the audit. We also:
t of the standalone Ind AS financial statements, whether due to fraud or error, design and perform audit
idence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a
n for one resulting from error, as fraud may involve collusion, forgery, intentional omissions,

to the audit in order to design audit procedures that are appropriate in the circumstances. Under section
ng our opinion on whether the Company has adequate internal financial controls with reference to financial
uch controls.
used and the reasonableness of accounting estimates and related disclosures made by management.
se of the going concern basis of accounting and, based on the audit evidence obtained, whether a material
ay cast significant doubt on the Company’s ability to continue as a going concern. If we conclude that a
ention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures
re based on the audit evidence obtained up to the date of our auditor’s report. However, future events or
as a going concern.
tent of the standalone Ind AS financial statements, including the disclosures, and whether the standalone
sactions and events in a manner that achieves fair presentation.
garding, among other matters, the planned scope and timing of the audit and significant audit findings,
hat we identify during our audit.
atement that we have complied with relevant ethical requirements regarding independence, and to
ers that may reasonably be thought to bear on our independence, and where applicable, related

h governance, we determine those matters that were of most significance in the audit of the standalone
March 31, 2021 and are therefore the key audit matters. We describe these matters in our auditor’s report
t the matter or when, in extremely rare circumstances, we determine that a matter should not be
uences of doing so would reasonably be expected to outweigh the public interest benefits of such
 er, 2016 (“the Order”), issued by the Central Government of India in terms of sub-section (11) of section
on the matters specified in paragraphs 3 and 4 of the Order.
that:
explanations which to the best of our knowledge and belief were necessary for the purposes of our audit;
y law have been kept by the Company so far as it appears from our examination of those books;
including the Statement of Other Comprehensive Income, the Cash Flow Statement and Statement of
ment with the books of account;

nancial statements comply with the Accounting Standards specified under Section 133 of the Act, read with
, as amended;
ved from the directors as on March 31, 2021 taken on record by the Board of Directors, none of the
ing appointed as a director in terms of Section 164 (2) of the Act;
ancial controls with reference to these standalone Ind AS financial statements and the operating
Report in “Annexure 2” to this report;
he year ended March 31, 2021 has been paid / provided by the Company to its directors in accordance
V to the Act;
in the Auditor’s Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014, as
ation and according to the explanations given to us:
g litigations on its financial position in its standalone Ind AS financial statements – Refer Note 27 to the

cts including derivative contracts for which there were any material foreseeable losses;
s, required to be transferred, to the Investor Education and Protection Fund by the Company

nts

a Partner
9
 Annexure 1 referred to in paragraph 1 under the heading “Report on other legal and regulatory requirements” of our report of
Re: Info Edge (India) Limited (‘the company’)
(i) (a) The Company has maintained proper records showing full particulars, including quantitative details and situation of fixed as
(b) All fixed assets have not been physically verified by the management during the year but there is a regular programme of verifica
reasonable having regard to the size of the Company and the nature of its assets. No material discrepancies were noticed on such ver
(c) According to the information and explanations given by the management and audit procedures performed by us, the title deeds
included in property, plant and equipment/ fixed assets are held in the name of the company.
(ii) The Company’s business does not involve inventories and, accordingly, the requirements under paragraph 3(ii) of the Order are n
Company.
(iii) (a) The Company has granted loans to a companies covered in the register maintained under section 189 of the Companies Act,
according to the information and explanations given to us, the terms and conditions of the grant of such loans are not prejudicial to t
(b) The Company has granted loans to a company covered in the register maintained under section 189 of the Companies Act, 2013.
principal and payment of interest has been stipulated for the loans granted and the repayment/receipts are regular.
(c) There are no amounts of loans granted to companies, firms or other parties listed in the register maintained under section 189 o
which are overdue for more than ninety days.
(iv) In our opinion and according to the information and explanations given to us, provisions of section 186 of the Companies Act 201
made have been complied with by the company. There are no loans, guarantees, and securities given in respect of which provisions o
Companies Act 2013 are applicable and hence not commented upon.
(v) The Company has not accepted any deposits within the meaning of Sections 73 to 76 of the Act and the Companies (Acceptance
amended). Accordingly, the provisions of clause 3(v) of the Order are not applicable.
(vi) To the best of our knowledge and as explained, the Company is not in the business of sale of any goods. Therefore, in our opinio
3(vi) of the Order are not applicable to the Company.
(vii) (a) The Company is regular in depositing with appropriate authorities undisputed statutory dues including provident fund, emplo
income-tax, service tax, goods and service tax, cess and other statutory dues applicable to it. The provisions relating to duty of custo
added tax and sales-tax are not applicable to the Company.
(b) According to the information and explanations given to us and audit procedures performed by us, no undisputed amounts payable
employees’ state insurance, income-tax, service tax, goods and service tax, cess and other statutory dues were outstanding, at the y
than six months from the date they became payable. The provisions relating to sales-tax, duty of custom, duty of excise, value added
Company
(c) According to the information and explanations given to us, there are no dues of provident fund, employees’ state insurance, valu
service tax and cess which have not been deposited on account of any dispute. The dues of income-tax, service tax and other statuto
dispute, are as follows:

Name of the statute Nature of the dues Amount (Rs) Unpaid Amount Period to which
the amount
Finance Act, 1994 Business Support Services 27,310,388 21,900,520 relates 2003-2012
Advertisement Services
Finance Act, 1994 Wrong availment of Cenvat 1,290,882 1,290,882 April 01, 2010
Credit to
Income Tax Act, Disallowance of ESOP expenses, 1,817,559 1,817,559 March2011-2012
31, 2011
1961 Disallowance u/s 14A
Income Tax Act, Disallowance of ESOP Expenses, 84,098,440 5,640,820 2014-15
1961 Disallowance u/s 14A
Income Tax Act, Disallowance of ESOP Expenses, 19,462,130 14,155,168 2015-16
1961 Disallowance u/s 14A
Income Tax Act, Disallowance of ESOP Expenses, 94,298,042 94,298,042 2016-17
1961 Disallowance u/s 14A
(viii) In our opinion and according to the information and explanations given by the management, the Company has not defaulted in r
borrowing to a financial institution, bank or government.
(ix) According to the information and explanations given by the management and audit procedures performed by us, the Company ha
of initial public offer / further public offer / debt instruments and term loans hence, reporting under clause (ix) is not applicable to
commented upon.
(x) Based upon the audit procedures performed for the purpose of reporting the true and fair view of the financial statements and a
and explanations given by the management, we report that no fraud by the company or no fraud on the company by the officers and
has been noticed or reported during the year.
(xi) According to the information and explanations given by the management and audit procedures performed by us, the managerial
/ provided in accordance with the requisite approvals mandated by the provisions of section 197 read with Schedule V to the Compan
(xii) In our opinion, the Company is not a nidhi company. Therefore, the provisions of clause 3(xii) of the order are not applicable to
commented upon.
(xiii) According to the information and explanations given by the management and audit procedures performed by us, transactions wi
compliance with section 177 and 188 of Companies Act, 2013 where applicable and the details have been disclosed in the notes to th
required by the applicable accounting standards.

(xiv) According to the information and explanations given by the management and audit procedures performed by us, the Company h
section 42 of the Companies Act, 2013 in respect of the preferential allotment or private placement of shares during the year. The co
placement of shares during the year March 31, 2021 as well. According to the information and explanations given by the management
raised, have been used for the purposes for which the funds were raised.
(xv) According to the information and explanations given by the management and audit procedures performed by us, the Company ha
cash transactions with directors or persons connected with him as referred to in section 192 of Companies Act, 2013.
(xvi) According to the information and explanations given to us, the provisions of section 45-IA of the Reserve Bank of India Act, 1934
Company

For S.R. Batliboi & Associates LLP

ICAI Firm Registration Number: 101049W/E300004 Chartered Accountants

per Yogesh Midha Partner

Membership Number: 94941 UDIN: 21094941AAAACG7329
Place: New Delhi Date: June 21, 2021

ANNEXURE 2 TO THE INDEPENDENT AUDITOR’S REPORT OF EVEN DATE ON THE STANDALONE IND AS FINANCIAL STATEMENTS OF
Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section 143 of the Companies Act, 2013 (“the Act
We have audited the internal financial controls with reference to standalone Ind AS financial statements of Info Edge (India) Limited
31, 2021 in conjunction with our audit of the standalone Ind AS financial statements of the Company for the year ended on that date.
Management’s Responsibility for Internal Financial Controls
The Company’s Management is responsible for establishing and maintaining internal financial controls based on the internal control o
criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of
Over Financial Reporting issued by the Institute of Chartered Accountants of India (“ICAI”). These responsibilities include the design,
maintenance of adequate internal financial controls that were operating effectively for ensuring the orderly and efficient conduct of
adherence to the Company’s policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy
accounting records, and the timely preparation of reliable financial information, as required under the Companies Act, 2013.
Auditor’s Responsibility
Our responsibility is to express an opinion on the Company’s internal financial controls with reference to these standalone Ind AS fina
our audit. We conducted our audit in accordance with the Guidance Note on Audit of Internal Financial Controls Over Financial Repor
and the Standards on Auditing, as specified under section 143(10) of the Act, to the extent applicable to an audit of internal financia
ICAI. Those Standards and the Guidance Note require that we comply with ethical requirements and plan and perform the audit to ob
about whether adequate internal financial controls with reference to these standalone Ind AS financial statements was established an
controls operated effectively in all material respects.
Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal financial controls with referen
financial statements and their operating effectiveness. Our audit of internal financial controls with reference to standalone Ind AS fin
obtaining an understanding of internal financial controls with reference to these standalone Ind AS financial statements, assessing th
weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. The
on the auditor’s judgement, including the assessment of the risks of material misstatement of the financial statements, whether due
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the Com
controls with reference to these standalone Ind AS financial statements.
Meaning of Internal Financial Controls With Reference to these Standalone Ind AS Financial Statements
A company’s internal financial controls with reference to standalone Ind AS financial statements is a process designed to provide reas
the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally a
principles. A company’s internal financial controls with reference to standalone Ind AS financial statements includes those policies an
to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets
reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with ge
principles, and that receipts and expenditures of the company are being made only in accordance with authorisations of managemen
company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorised acquisition, use, or disposit
that could have a material effect on the financial statements.
Inherent Limitations of Internal Financial Controls With Reference to Standalone Ind AS Financial Statements
Because of the inherent limitations of internal financial controls with reference to standalone Ind AS financial statements, including
improper management override of controls, material misstatements due to error or fraud may occur and not be detected. Also, proje
the internal financial controls with reference to standalone Ind AS financial statements to future periods are subject to the risk that
with reference to standalone Ind AS financial statements may become inadequate because of changes in conditions, or that the degre
policies or procedures may deteriorate.
Opinion
In our opinion, the Company has, in all material respects, adequate internal financial controls with reference to standalone Ind AS fin
internal financial controls with reference to standalone Ind AS financial statements were operating effectively as at March 31, 2021,
over financial reporting criteria established by the Company considering the essential components of internal control stated in the Gu
ICAI.
For S.R. BATLIBOI & ASSOCIATES LLP
Chartered Accountants
ICAI Firm Registration Number: 101049W/E300004
per Yogesh Midha
Partner
Membership No.: 094941 UDIN: 21094941AAAACG7329
Place: New Delhi Date: June 21, 2021
latory requirements” of our report of even date

titative details and situation of fixed assets.

there is a regular programme of verification which, in our opinion, is
discrepancies were noticed on such verification.
dures performed by us, the title deeds of immovable properties
.
under paragraph 3(ii) of the Order are not applicable to the

nder section 189 of the Companies Act, 2013. In our opinion and
ant of such loans are not prejudicial to the company’s interest.
ection 189 of the Companies Act, 2013. The schedule of repayment of
t/receipts are regular.
register maintained under section 189 of the Companies Act, 2013

f section 186 of the Companies Act 2013 in respect of investments

es given in respect of which provisions of section 185 and 186 of the

he Act and the Companies (Acceptance of Deposits) Rules, 2014 (as

e of any goods. Therefore, in our opinion, the provisions of clause

ry dues including provident fund, employees’ state insurance,

The provisions relating to duty of custom, duty of excise, value

d by us, no undisputed amounts payable in respect of provident fund,

atutory dues were outstanding, at the year end, for a period of more
y of custom, duty of excise, value added tax are not applicable to the

t fund, employees’ state insurance, value added tax, goods and

come-tax, service tax and other statutory dues on account of any

Forum where the dispute

is pending
Custom excise and Service
Tax Appellate Tribunal
Commissioner – Service Tax

Income Tax Appellate

Tribunal
CIT (Appeals)

CIT (Appeals)

CIT (Appeals)
ent, the Company has not defaulted in repayment of loans or

dures performed by us, the Company has not raised any money way
g under clause (ix) is not applicable to the Company and hence not

r view of the financial statements and according to the information

ud on the company by the officers and employees of the Company

dures performed by us, the managerial remuneration has been paid

97 read with Schedule V to the Companies Act, 2013.
(xii) of the order are not applicable to the Company and hence not

edures performed by us, transactions with the related parties are in

s have been disclosed in the notes to the financial statements, as

edures performed by us, the Company has complied with provisions of

ement of shares during the year. The company had made a private
explanations given by the management, we report that the amounts

dures performed by us, the Company has not entered into any non-
f Companies Act, 2013.
A of the Reserve Bank of India Act, 1934 are not applicable to the

NE IND AS FINANCIAL STATEMENTS OF INFO EDGE (INDIA) LIMTED

of the Companies Act, 2013 (“the Act”)
statements of Info Edge (India) Limited (“the Company”) as of March
mpany for the year ended on that date.

controls based on the internal control over financial reporting

stated in the Guidance Note on Audit of Internal Financial Controls
hese responsibilities include the design, implementation and
ng the orderly and efficient conduct of its business, including
tion of frauds and errors, the accuracy and completeness of the
under the Companies Act, 2013.

eference to these standalone Ind AS financial statements based on

Financial Controls Over Financial Reporting (the “Guidance Note”)
plicable to an audit of internal financial controls, both issued by
ts and plan and perform the audit to obtain reasonable assurance
financial statements was established and maintained and if such

internal financial controls with reference to these standalone Ind AS

with reference to standalone Ind AS financial statements included
nd AS financial statements, assessing the risk that a material
control based on the assessed risk. The procedures selected depend
the financial statements, whether due to fraud or error.
a basis for our audit opinion on the Company’s internal financial
al Statements
nts is a process designed to provide reasonable assurance regarding
urposes in accordance with generally accepted accounting
al statements includes those policies and procedures that (1) pertain
nsactions and dispositions of the assets of the company; (2) provide
ancial statements in accordance with generally accepted accounting
ance with authorisations of management and directors of the
nauthorised acquisition, use, or disposition of the company’s assets

nancial Statements
Ind AS financial statements, including the possibility of collusion or
occur and not be detected. Also, projections of any evaluation of
ure periods are subject to the risk that the internal financial control
changes in conditions, or that the degree of compliance with the

with reference to standalone Ind AS financial statements and such

ating effectively as at March 31, 2021, based on the internal control
ents of internal control stated in the Guidance Note issued by the
 BALANCE SHEET AS AT MARCH 31, 2021
Particulars
Notes

ASSETS
Non-current assets
Property, plant and equipment 3 (a)
Right of use asset 3 (b)
Other intangible assets 3 (c)
Intangible assets under development 3 (c)
Financial assets
(i) Investments 4 (a)
(ii) Other financial assets 4 (e)
Non-current tax assets (net) 7
Deferred tax assets (net) 5
Other non-current assets 6
Total non-current assets
Current Assets
Financial assets
(i) Investments 4 (b)
(ii) Trade receivables 4 (c)
(iii) Cash and cash equivalents 4 (d)
(iv) Bank balances other than (iii) above 4 (d)
(v) Other financial assets 4 (e)
Other current assets 6
Total current assets
Total assets
Equity & Liabilities
Equity
Equity share capital 8
Other equity 9
Total equity
Liabilities
Non-current liabilities
Financial liabilities
(i) Borrowings 10 (a)
(ii) Trade payables 10 (c)
- total outstanding dues of micro enterprises and small enterprises
- total outstanding dues of creditors other than micro enterprises and small enterprises
(iii) Lease liability 10(d)
Other non-current liabilities 12
Total non-current liabilities
Current liabilities
Financial liabilities
(i) Trade payables 10 (c)
- total outstanding dues of micro enterprises and small enterprises
- total outstanding dues of creditors other than micro enterprises and small enterprises
(ii) Other financial liabilities 10 (b)
(iii) Lease liability 10 (d)
Provisions 11
Other current liabilities 12
Total current liabilities
Total liabilities

Total equity and liabilities

The accompanying notes 1 to 50 are in integral part of the Financial Statements.
As per our report of even date

For S.R. Batliboi & Associates LLP For and on behalf of the Board of Directors
Chartered Accountants Hitesh Oberoi Chintan Thakkar
ICAI Firm Registration Number: 101049W/E300004 Managing Director Director & CFO
per Yogesh Midha Partner M.M. Jain
Membership Number 094941 Company Secretary
Place : New Delhi Date : June 21, 2021 Place : Noida
Date : June 21, 2021
 As at March 31,2021 As at March 31,2020
(`Mn) (`Mn)

318.35 434.04
716.24 849.97
36.93 40.65
– –

15,000.37 14,672.16
5,290.95 481.07
1,394.80 1,225.74
362.50 334.62
8.30 25.45
23,128.44 18,063.70

– 2,554.03
53.87 70.05
6,331.68 4,254.34
19.77 20.58
23,293.16 5,968.73
231.94 178.69
29,930.42 13,046.42
53,058.86 31,110.12

1,285.23 1,222.66
44,356.73 23,093.93
45,641.96 24,316.59

0.72 2.42

– –
– –
436.88 556.53
11.49 9.75
449.09 568.70

– –
600.69 592.05
1.72 3.81
204.04 194.41
662.10 548.81
5,499.26 4,885.75
6,967.81 6,224.83
7,416.90 6,793.53

53,058.86 31,110.12

e Board of Directors
Chintan Thakkar
Director & CFO
 STATEMENT OF PROFIT AND LOSS FOR YEAR ENDED MARCH 31, 2021

Particulars Notes

Income
Revenue from operations 13
Other income 14
I Total Income
Expenses
Employee benefits expense 15
Finance costs 16
Depreciation and amortisation expense 17
Advertising and promotion cost 18
Network, internet and other direct charges 19
Administration and other expenses 20
II Total Expense
III. Profit before exceptional items and tax (I-II)
IV. Exceptional items (loss) 35
V. Profit before tax (III-IV)

VI. Tax expense

(1) Current tax 46
(2) Deferred tax (Credit)/charge 5
Total tax expense
VII. Profit for the year (V-VI)
Other comprehensive income/(loss) (OCI)

(A) Items that will not be reclassified to profit or loss

Remeasurement gain/(loss) of post employment benefit obligation
Gain on financial assets measured at Fair value through OCI
Income tax relating to this
Other comprehensive income/(loss) for the year, net of income tax

Total comprehensive income for the year

Earnings per share: 24

Basic earnings per share

Diluted earnings per share
The accompanying notes 1 to 50 are in integral part of the Financial Statements.
As per our report of even date
For S.R. Batliboi & Associates LLP For and on behalf of the Board of Directors
Chartered Accountants Hitesh Oberoi Chintan Thak
ICAI Firm Registration Number: 101049W/E300004 Managing Director Director & CF
per Yogesh Midha Partner M.M. Jain
Membership Number 094941 Company Secretary
Place : New Delhi Date : June 21, 2021 Place : Noida
Date : June 21, 2021
Year ended March Year ended March
31, 2021 31, 2020
(`Mn) (`Mn)

10,985.97 12,726.95
1,187.71 876.18
12,173.68 13,603.13

5,489.92 5,395.72
56.98 66.89
436.36 413.78
1,817.15 2,044.21
252.23 234.03
651.71 1,025.68
8,704.35 9,180.31
3,469.33 4,422.82
32.24 1,232.95
3,437.09 3,189.87

755.59 1,052.31
(27.88) 80.91
727.71 1,133.22
2,709.38 2,056.65

32.49 (64.86)
49.69 -
(8.18) 16.32
74.00 (48.54)

2,783.38 2,008.11

21.47 16.85
21.32 16.75
of the Board of Directors
Chintan Thakkar
Director & CFO

21
 CASH FLOW STATEMENT FOR YEAR ENDED MARCH 31, 2021
[Link]. Particulars Year ended March 31,
2021
A. Cash flow from operating activities: (`Mn)
Profit before exceptional items and tax 3,469.33

Adjustments for:
436.36
Depreciation and amortisation expense
Provision for Impairment of Intangible asset under development -
Interest on borrowings 0.37
Interest on Lease liability 56.61
Interest income from financial assets measured at amortised cost (1,087.89)
- on fixed deposits with banks
- on other financial assets (25.89)
Dividend income from financial assets measured at FVTPL* (3.17)
Net gain on disposal of property, plant & equipment (0.64)
Gain on disposal of Right to use asset (0.90)
Miscellaneous income (36.15)
Net gain on financial assets mandatorily measured at FVTPL* (6.45)
Unwinding of discount on security deposits (14.18)
Interest income on deposits with banks made by ESOP Trust (13.34)
Bad debt/provision for doubtful debts (Net) 0.97
Share based payments to employees 249.78
Operating profit before working capital changes 3,024.81
Adjustments for changes in working capital :
15.21
- Decrease/(Increase) in Trade receivables
- Decrease in Other Non Current Financial Assets 1.37
- (Increase) in Other Current Financial Assets (0.24)
- Decrease in Other Non- Current asset 12.38
- (Increase)/Decrease in Other Current asset (53.25)
- Increase/(Decrease) in Trade payables 8.64
-Increase/(Decrease) in Short-term provisions 145.78
- Increase/(Decrease) in Other long term liabilities 1.74
- Increase/(Decrease) in Other current liabilities 624.21
Cash generated from operations 3,780.65
- Income Taxes Paid (932.83)
Net cash inflow from operations 2,847.82

B. Cash flow from Investing activities:

Purchase of property, plant and equipment/Intangible Assets (83.27)
Investment in fixed deposits (net) (21,810.14)
Amount paid for Investment in subsidiaries & Joint ventures (310.10)
Proceeds from redemption of preference shares of Subsidiary -
Proceeds from sale of investment in Subsidiary -
Payment for purchase of current investments (2.85)
Proceeds from sale of current investments 2,563.33
Proceeds from sale of property, plant and equipment 1.90
Interest received 808.75
Dividend received 3.17
Net cash (outflow)/inflow from investing activities (18,829.21)

C. Cash flow from financing activities:

Proceeds from allotment of shares 18,751.89
Expenses incurred on issue of shares (459.68)
Proceeds from borrowings -
Repayment of borrowings (3.79)
Interest paid on borrowings (0.37)
Repayment of Lease liability (172.71)
Interest on Lease liability (56.61)
Dividend paid to company’s shareholders -
Corporate Dividend tax paid -
Net cash inflow/(outflow) from financing activities 18,058.73

Net Increase in cash & cash equivalents 2,077.34

Opening balance of cash and cash equivalents 4,254.34
Closing balance of cash and cash equivalents 6,331.68

Cash and cash equivalents comprise

5.56
Cash on hand
Cheque in hand -
Balance with banks 513.22
-in current accounts
-in fixed deposits accounts with original maturity of less than 3 months
Total cash and cash equivalents (refer note 4(d)) 6,331.68

-Balances in fixed deposit accounts with original maturity more than 3 months but less than 12 months (refer note 4(d)) 19.00
-Balance in fixed deposit accounts with original maturity more than 12 months (refer note 4(e))
34,342.84
 Total 34,342.84
Note: FVTPL=Fair value through profit or loss
Notes :
1 Reconciliation of liabilities arising from financing activities

Particulars Year ended March 31, 2020 Cash Flows (Net) Non Cash Changes
Borrowings (including current maturities and interest on (`Mn)
6.23 (4.16) 0.37
borrowing)
Finance liability 750.94 (229.32) 119.30
2 The above Statement of Cash Flows has been prepared under the Indirect method as set out in IND AS - 7 on Statement of Cash Flows notified under section 133 of the Companies Act, 2013 (the Act) [Companies
(Indian Accounting Standards) Rules, 2015], as amended.
3 Figures in brackets indicate cash outflow.

The accompanying notes 1 to 50 are in integral part of the Financial Statements.

As per our report of even date

For S.R. Batliboi & Associates LLP For and on behalf of the Board of Directors
Chartered Accountants Hitesh Oberoi Chintan Thakkar
ICAI Firm Registration Number: 101049W/E300004 Managing Director Director & CFO
per Yogesh Midha Partner M.M. Jain
Membership Number 094941 Company Secretary
Place : New Delhi Date : June 21, 2021 Place : Noida
Date : June 21, 2021
Year ended March 31, Year ended March 31,
2021 2020
(`Mn) (`Mn)
3,469.33 4,422.82

436.36 413.78

- 20.00
0.37 0.59
56.61 66.30
(1,087.89) (675.00)

(25.89) (47.37)
(3.17) (62.79)
(0.64) (0.65)
(0.90) (8.00)
(36.15) (3.18)
(6.45) (61.81)
(14.18) (9.56)
(13.34) (15.82)
0.97 49.14
249.78 242.93
3,024.81 4,331.38

15.21 (59.08)

1.37 23.03
(0.24) (10.61)
12.38 26.27
(53.25) 10.18
8.64 (56.86)
145.78 (12.54)
1.74 (1.08)
624.21 (117.43)
3,780.65 4,133.26
(932.83) (1,111.76)
2,847.82 3,021.50

(83.27) (240.09)
(21,810.14) 5,886.74
(310.10) (9,070.06)
- 3,400.00
- 145.39
(2.85) (22,922.67)
2,563.33 23,829.95
1.90 2.96
808.75 875.03
3.17 62.79
(18,829.21) 1,970.04

18,751.89 2.58
(459.68) -
- 2.65
(3.79) (4.73)
(0.37) (0.59)
(172.71) (177.54)
(56.61) (66.30)
- (977.50)
- (198.59)
18,058.73 (1,420.02)

2,077.34 3,571.52
4,254.34 682.82
6,331.68 4,254.34

5.56 3.38

- 6.50
513.22 386.06

6,331.68 4,254.34

19.00 19.80

34,342.84 10,455.36
 34,342.84 10,455.36

Year ended March 31, 2021

(`Mn)
2.44
640.92
unting Standards) Rules, 2015], as amended.

ctors
Chintan Thakkar
Director & CFO
 STATEMENTS OF CHANGES IN EQUITY FOR YEAR ENDED MARCH 31, 2021
a. Equity share capital
Particulars Note
As at April 01, 2019
Changes in equity share capital 8
As at March 31, 2020
Changes in equity share capital 8
As at March 31, 2021
b. Other equity Amount (`Mn
Particulars Reserves & Surplus
Employee Securities
Retained
stock options premium General reserve
earnings
outstanding

Balance as at April 01, 2019 172.07 8,227.66 1,018.90 12,600.35

Profit for the year - - - 2,056.65

Other Comprehensive Income for the year - - - (48.54)
Total Comprehensive Income for the year - - - 2,008.11

Options granted during the year 242.93 - - -

Amount transferred to General reserve (17.62) - 17.62 -
Dividend - - - (241.68)
Interim Dividends - - - (735.82)
Corporate dividend tax - - - (198.59)
Balance as at March 31, 2020 397.38 8,227.66 1,036.52 13,432.37

Balance as at April 01, 2020 397.38 8,227.66 1,036.52 13,432.37

Profit for the year - - - 2,709.38
Other Comprehensive Income for the year - - - 74.00
Total Comprehensive Income for the year - - - 2,783.38
Options granted during the year 249.78 - - -
Amount received on issue of shares by the Company - 18,689.32 - -
Amount transferred to General reserve (147.83) - 147.83 -
Expenses incurred on issue of shares adjusted from - (459.68) - -
Security Premium Account (refer note 34)
Balance as at March 31, 2021 499.33 26,457.30 1,184.35 16,215.75
The accompanying notes 1 to 50 are in integral part of the Financial Statements.
As per our report of even date
For S.R. Batliboi & Associates LLP For and on behalf of the Board of Directors
Chartered Accountants Hitesh Oberoi Chintan Thakk
ICAI Firm Registration Number: 101049W/E300004 Managing Director Director & CF
per Yogesh Midha Partner M.M. Jain
Membership Number 094941 Company Secretary
Place : New Delhi Date : June 21, 2021 Place : Noida
Date : June 21, 2021
 Amount (`Mn)
1,220.08
2.58
1,222.66
62.57
1,285.23
Amount (`Mn)
Total

Retained
earnings

12,600.35 22,018.98

2,056.65 2,056.65
(48.54) (48.54)
2,008.11 2,008.11

- 242.93
- -
(241.68) (241.68)
(735.82) (735.82)
(198.59) (198.59)
13,432.37 23,093.93

13,432.37 23,093.93
2,709.38 2,709.38
74.00 74.00
2,783.38 2,783.38
- 249.78
- 18,689.32
- -
- (459.68)

16,215.75 44,356.73

f Directors
Chintan Thakkar
Director & CFO
 1. Corporate Information
Info Edge (India) Ltd (the Company) CIN : L74899DL1995PLC068021 is a public limited company domiciled and incorporated under the
Act applicable in India. The registered office of the Company is located at GF-12A, 94 Meghdoot Building, Nehru Place, New Delhi – 1
business is in B-8, Sector-132, Noida-201304. Its shares are listed on two stock exchanges of India. The Company is primarily engaged
services primarily through its online portal [Link], [Link], 99 [Link], [Link] & offline portal Quadrangle. com
The financial statements are approved for issue by the Company’s Board of Directors on June 21, 2021.

2. Significant accounting policies

This note provides a list of the significant accounting policies adopted in the preparation of these financial statements. These policie
applied except where a newly issued accounting standard is initially adopted or a revision to an existing accounting standard requires
hitherto in use.
2.1 Basis of preparation
(i) Compliance with Ind AS
These financial statements have been prepared in accordance with the Indian Accounting standards (Ind AS) notified under sectio
2013 (‘the Act’) [Companies (Indian Accounting Standards) Rules, 2015, as amended by notification dated March 31, 2016] and oth
Act.
All assets and liabilities have been classified as current or non-current as per the Company’s operating cycle and other criteria se
(Division II) to the Companies Act, 2013. Based on the nature of services and the time between the rendering of service and their
equivalents, the Company has ascertained its operating cycle as twelve months for the purpose of current and noncurrent classifi
The financial statements are presented in Indian Rupees and all amounts disclosed in the financial statements and notes have bee
decimal points to the nearest Million (as per the requirement of Schedule III), unless otherwise stated.
(ii) Historical Cost Convention
The Financial statements have been prepared on a historical cost basis, except for the following:
• Certain financial assets and liabilities (including derivative instruments) which are measured at fair value / amortised cost le
• Defined benefit plans-plan assets measured at fair value; and
• Share based payments.

2.2 Property, plant and equipment

Property, plant and equipment are stated at historical cost less accumulated depreciation. Historical cost includes expenditure th
the acquisition of the items.
Subsequent costs are included in the asset’s carrying amount or recognized as a separate asset, as appropriate, only when it is pr
benefits associated with the item will flow to the Company and the cost of the item can be measured reliably. The carrying amou
accounted for as a separate asset is derecognized when replaced. All other repairs and maintenance are recognized in profit or lo
in which they are incurred.
Transition to Ind AS
On transition to Ind AS, the Company has elected to continue with the carrying value of all of its property, plant and equipment r
measured as per the previous GAAP and use that carrying value as the deemed cost of the property, plant and equipment.
Depreciation methods, estimated useful lives and residual value
Depreciation is provided on a pro-rata basis on the straight line method over the estimated useful lives of assets, based on intern
technical evaluation done by the Management experts which are stated as under, except in case of Plant and Machinery, Furnitur
where useful life is lower than life prescribed under Schedule II to the Companies Act, 2013, in order to reflect the actual usage o

Assets Estimated useful life (Years)

Building 60
Computers 3
Plant and Machinery 10
Furniture and Fixtures 8
Office Equipment 5
Vehicles 6
The leasehold improvements are depreciated over the assets’ useful life or over the shorter of the assets’ useful life and the l
The asset’s useful lives and methods of depreciation are reviewed at the end of each reporting period and adjusted prospecti
An asset’s carrying amount is written down immediately to its recoverable amount if the asset’s carrying amount is greater th
amount.
Gains and losses on disposals are determined by comparing net disposal proceeds with carrying amount of the asset. These are
within other income.
Assets costing less than or equal to ` 5,000 are fully depreciated pro-rata from date of acquisition.
) CIN : L74899DL1995PLC068021 is a public limited company domiciled and incorporated under the provisions of the Companies
red office of the Company is located at GF-12A, 94 Meghdoot Building, Nehru Place, New Delhi – 110019 and principal place of
a-201304. Its shares are listed on two stock exchanges of India. The Company is primarily engaged in providing online & offline
e portal [Link], [Link], 99 [Link], [Link] & offline portal Quadrangle. com.
ved for issue by the Company’s Board of Directors on June 21, 2021.

s
ificant accounting policies adopted in the preparation of these financial statements. These policies have been consistently
ed accounting standard is initially adopted or a revision to an existing accounting standard requires a change in accounting policy

e been prepared in accordance with the Indian Accounting standards (Ind AS) notified under section 133 of the Companies Act,
dian Accounting Standards) Rules, 2015, as amended by notification dated March 31, 2016] and other relevant provisions of the

een classified as current or non-current as per the Company’s operating cycle and other criteria set out in the Schedule III
ct, 2013. Based on the nature of services and the time between the rendering of service and their realisation in cash and cash
scertained its operating cycle as twelve months for the purpose of current and noncurrent classification of assets and liabilities.
esented in Indian Rupees and all amounts disclosed in the financial statements and notes have been rounded off upto two
illion (as per the requirement of Schedule III), unless otherwise stated.

been prepared on a historical cost basis, except for the following:

d liabilities (including derivative instruments) which are measured at fair value / amortised cost less diminution, if any;
assets measured at fair value; and

ment
are stated at historical cost less accumulated depreciation. Historical cost includes expenditure that is directly attributable to

n the asset’s carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic
m will flow to the Company and the cost of the item can be measured reliably. The carrying amount of any component
et is derecognized when replaced. All other repairs and maintenance are recognized in profit or loss during the reporting period,

mpany has elected to continue with the carrying value of all of its property, plant and equipment recognized as at April 1, 2015
AAP and use that carrying value as the deemed cost of the property, plant and equipment.
d useful lives and residual value
ro-rata basis on the straight line method over the estimated useful lives of assets, based on internal assessment and independent
e Management experts which are stated as under, except in case of Plant and Machinery, Furniture and Fixtures and Vehicles
life prescribed under Schedule II to the Companies Act, 2013, in order to reflect the actual usage of the assets.
s are depreciated over the assets’ useful life or over the shorter of the assets’ useful life and the lease term.
methods of depreciation are reviewed at the end of each reporting period and adjusted prospectively, if appropriate.
is written down immediately to its recoverable amount if the asset’s carrying amount is greater than its estimated recoverable

s are determined by comparing net disposal proceeds with carrying amount of the asset. These are included in profit or loss

qual to ` 5,000 are fully depreciated pro-rata from date of acquisition.

 2.3 Intangible assets
Intangible assets acquired separately are measured on initial recognition at historical cost. Intangibles assets have a finite life an
cost less any accumulated amortization and accumulated impairment losses if any.
Intangible assets with finite lives are amortized over the useful life and assessed for impairment whenever there is an indication t
be impaired. The amortization period and the amortization method for an intangible asset with a finite useful life are reviewed a
reporting period. Changes in the expected useful life or the expected pattern of consumption of future economic benefits embod
to modify the amortization period or method, as appropriate, and are treated as changes in accounting estimates. The amortizati
assets with finite lives is recognized in the statement of profit and loss unless such expenditure forms part of carrying value of an
Gains or losses arising from derecognition of an intangible asset are measured as the difference between the net disposal proceed
the asset and are recognized in the statement of profit or loss when the asset is derecognized.
Amortisation methods and estimated useful lives

Assets Estimated useful life

Enterprise resource planning (Years)
5
software
Other software licenses 3
Assets costing less than or equal to ` 5,000 are fully amortised pro-rata from date of acquisition.
2.4 Impairment of non-financial assets
Assessment is done at each balance sheet date as to whether there is any indication that an asset may be impaired. If any such in
impairment testing for an asset is required, an estimate of the recoverable amount of the asset/cash generating unit is made. Re
an asset’s or cash generating unit’s fair value less costs of disposal and its value in use. Value in use is the present value of estima
expected to arise from the continuing use of an asset and from its disposal at the end of its useful life. For the purpose of assessin
recoverable amount is determined for an individual asset, unless the asset does not generate cash inflows that are largely indepe
assets or group of assets. The smallest identifiable group of assets that generates cash inflows from continuing use that are largel
inflows from other assets or groups of assets, is considered as a cash generating unit (CGU). An asset or CGU whose carrying value
amount is considered impaired and is written down to its recoverable amount. Assessment is also done at each balance sheet for
impairment loss recognized for an asset, in prior accounting periods.
2.5 Foreign currency translations
(i) Functional and presentation currency
Items included in the financial statements of the Company are measured using the currency of the primary economic environmen
operates (‘the functional currency’) i.e., Indian Rupee (INR) which is its presentation currency as well.
(ii) Transactions and balances
Initial recognition
On initial recognition, all foreign currency transactions are recorded by applying to the foreign currency amount the spot exchang
currency and the foreign currency at the date of the transaction.
The company follows Appendix B to Ind AS 21 – Foreign Currency Transactions and Advance Considerations which clarifies the date
purpose of determining the exchange rate to use on initial recognition of the related asset, expense or income when an entity ha
consideration in a foreign currency.
Subsequent recognition
As at the reporting date, foreign currency monetary items are translated using the closing rate and non-monetary items that are
cost in a foreign currency are translated using the exchange rate at the date of the initial transaction.
Exchange gains and losses arising on the settlement of monetary items or on translating monetary items at rates different from th
translated on initial recognition during the period or in previous financial statements are recognised in profit or loss in the year in
Translation of foreign operations
The financial statements of foreign operations are translated using the principles and procedures mentioned above, since these b
is an extension of the Company’s operations.

2.6 Revenue recognition

The Company follows Ind AS 115 “Revenue from Contracts with Customers” using the modified retrospective approach. Revenue i
control of promised services to customers in an amount that reflects the consideration we expect to receive in exchange for thos
services tax).
The Company earns revenue significantly from the following sources viz.
a) Recruitment solutions through its career web sites such as, [Link]:-
Revenue is received primarily in the form of fees, which is recognized prorata over the subscription / advertising / service agreem
one to twelve months.
b) Matrimonial web site, [Link], Real Estate website, [Link] and Education classified website, [Link]:-
Revenue is received in primarily the form of subscription fees, which is recognized over the period of subscription / advertising /
ranging between one to twelve months. The revenue is recognized on principal to principal basis and recognized gross of
 agency/commission fees, as applicable in case of [Link].
c) Placement search division, Quadrangle:-
Revenue is received in the form of fees, for placements at various levels in a client’s organization. Revenue is recognized on t
the search and selection activity.
d) Resume Fast Forward Service:-
The revenue from Resume Sale Services is earned in the form of fees and is recognized on completion of the related service.
Revenue in relation to rendering of the services mentioned in (a) & (b) above where performance obligations are satisfied ove
uncertainty as to measurability or collectability of consideration, is recognized ratably over the period of in which services ar
period) and rendering of the services mentioned in (c) to (d) above are recognised in the accounting period in which the servi
is uncertainty as to measurement or ultimate collectability, revenue recognition is postponed until such uncertainty is resolve
In respect of (a) and (b) above, the unaccrued amounts are reflected in the Balance sheet as Income received in advance (def
The company has as a matter of practical expedient recognised the incremental costs of obtaining a contract as an expense w
amortisation period of the asset that the entity otherwise would have recognised is generally one year or less.

2.7 Retirement and other employee benefits

(i) Short-term obligations
Liabilities for salaries, including other monetary and non-monetary benefits that are expected to be settled wholly within 12 mon
period in which the employees render the related service are recognised in respect of employees’ services up to the end of the re
measured at the amounts expected to be paid when the liabilities are settled. The liabilities are presented as current employee b
balance sheet.
(ii) Other Long-term employee benefit obligations
The liabilities for earned leave are not expected to be settled wholly within 12 months after the end of the period in which the e
service. They are therefore measured as the present value of expected future payments to be made in respect of services provide
of the reporting period using the projected unit credit method. The benefits are discounted using the market yields at the end of
have terms approximating to the terms of the related obligation. Remeasurements as a result of experience adjustments and cha
are recognised in profit or loss.
The obligations are presented as current liabilities in the balance sheet if the entity does not have an unconditional right to defer
twelve months after the reporting period, regardless of when the actual settlement is expected to occur.
(iii) Post-employment obligations
The Company operates the following post-employment schemes:
a) defined contribution plans - provident fund
b) defined benefit plans - gratuity plans
a) Defined contribution plans
The Company has a defined contribution plan for the post-employment benefit namely Provident Fund which is administered thro
Fund Commissioner and the contributions towards such fund are recognised as employee benefits expense and charged to the Sta
when they are due. The Company does not carry any further obligations with respect to this, apart from contributions made on a
b) Defined benefit plans
The Company has defined benefit plan, namely gratuity for eligible employees in accordance with the Payment of Gratuity Act, 1
determined on the basis of an actuarial valuation (using the Projected Unit Credit method) at the end of each period. The Gratuit
income tax authorities and is administered through Life Insurance Corporation of India under its Group Gratuity Scheme.
The present value of the defined benefit obligation denominated in INR is determined by discounting the estimated future cash o
market yields at the end of the reporting period on government bonds that have terms approximating to the tenor of the related
asset recognized in the balance sheet in respect of gratuity is the present value of the defined benefit obligation at the end of th
value of plan assets. The net interest cost is calculated by applying the discount rate to the net balance of the defined benefit ob
plan assets. This cost is included in employee benefit expense in the statement of profit and loss.
Remeasurements of the net defined liability, comprising of actuarial gains and losses, return on plan assets (excluding amounts in
net defined benefit liability) and any change in the effect of asset ceiling (excluding amounts included in net interest on the net
recognised immediately in the balance sheet with a corresponding debit or credit to retained earnings through Other Comprehens
in which they occur. Remeasurements are not reclassified to profit or loss in subsequent periods.
Change in the present value of the defined benefit obligation resulting from plan amendments or curtailments are recognised imm
as past service cost.
(iv) Bonus Plans
The Company recognises a liability and an expense for bonuses. The Company recognises a provision where contractually obliged
practice that has created a constructive obligation.
(v) Termination benefits
Termination benefits are payable when employment is terminated by the Company before the normal retirement date, or when a
redundancy in exchange for these benefits. The Company recognises termination benefits at the earlier of the following dates:
recognised immediately in the balance sheet with a corresponding debit or credit to retained earnings through Other Comprehens
in which they occur. Remeasurements are not reclassified to profit or loss in subsequent periods.
Change in the present value of the defined benefit obligation resulting from plan amendments or curtailments are recognised imm
as past service cost.
(iv) Bonus Plans
The Company recognises a liability and an expense for bonuses. The Company recognises a provision where contractually obliged
practice that has created a constructive obligation.
(v) Termination benefits
Termination benefits are payable when employment is terminated by the Company before the normal retirement date, or when a
redundancy in exchange for these benefits. The Company recognises termination benefits at the earlier of the following dates:

(a) when the Company can no longer withdraw the offer of those benefits; and (b) when the entity recognises costs for a restr
scope of Ind AS 37 and involves the payment of terminations benefits. In the case of an offer made to encourage voluntary red
benefits are measured based on the number of employees expected to accept the offer. Benefits falling due more than 12 mo
reporting period are discounted to present value.
(vi) Share based payments
Share-based compensation benefits are provided to employees via the Info Edge Limited Employee Option Plan and share-app
equity settled schemes.
Employee options
The fair value of options granted under the Info Edge Employees’ Stock Option Scheme is recognised as an employee benefits
increase in equity. The total amount to be expensed is determined by reference to the grant date fair value of the options gra
• including any market performance conditions (e.g., the entity’s share price)
• excluding the impact of any service and non-market performance vesting conditions (e.g. profitability, sales growth targe
of the entity over a specified time period), and
• including the impact of any non-vesting conditions (e.g. the requirement for employees to save or hold shares for a speci
The total expense is recognised over the vesting period, which is the period over which all of the specified vesting conditions
of each period, the entity revises its estimates of the number of options that are expected to vest based on the non-market v
It recognises the impact of the revision to original estimates, if any, in profit or loss, with a corresponding adjustment to equi
Share appreciation rights
Share appreciation rights granted are considered to be towards equity settled share based transactions and as per IND AS 102,
measured at fair value as at the grant date. Company’s share appreciation rights are recognised as employee benefit expense
period.
2.8 Income tax
The income tax expense or credit for the period is the tax payable on the current period’s taxable income based on the applicabl
jurisdiction adjusted by changes in deferred tax assets and liabilities attributable to temporary differences and to unused tax loss
The current income tax is calculated on the basis of the tax rates and the tax laws enacted or substantively enacted at the report
periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulations is subject to int
provisions or make reversals of provisions made in earlier years, where appropriate, on the basis of amounts expected to be paid
authorities.
Deferred tax is recognized for all the temporary differences arising between the tax bases of assets and liabilities and their carry
statements, subject to the consideration of prudence in respect of deferred tax assets. Deferred tax assets are recognized and ca
probable that sufficient future taxable amounts will be available against which such deferred tax asset can be realised. Deferred
measured using the tax rates and tax laws that have been enacted or substantively enacted by the end of the reporting period an
the related deferred income tax asset is realized or the deferred income tax liability is settled. The carrying amount of deferred
each Balance Sheet date and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to
deferred tax asset to be utilised. Unrecognised deferred tax assets are re-assessed at each reporting date and are recognised to t
probable that future taxable profits will allow the deferred tax asset to be recovered.
Deferred tax liabilities are not recognised for temporary differences between the carrying amount and tax bases of investments in
trust, associates and interest in joint arrangements where the company is able to control the timing of the reversal of the tempor
probable that the differences will not reverse in the foreseeable future.
Deferred tax assets are not recognised for temporary differences between the carrying amount and tax bases of investments in su
associates and interest in joint arrangements where it is not probable that the differences will reverse in the foreseeable future a
available against which the temporary difference can be utilised.
Current and deferred tax is recognised in profit or loss, except to the extent that it relates to items recognised in other compreh
equity. In this case, the tax is also recognised in other comprehensive income or directly in equity, respectively.
Deferred tax assets and liabilities are offset if a legally enforceable right exists to set off current tax assets and liabilities and the
to the same taxable authority. Current tax assets and liabilities are offset where the entity has a legally enforceable right to offs
on a net basis, or to realize the asset and settle the liability simultaneously.

2.9 Provisions
Provisions are recognised when the Company has a present legal or constructive obligation as a result of past events, it is probabl
embodying economic benefits will be required to settle the obligation and the amount can be reliably estimated. Provisions are n
operating losses.
Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by c
obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the
be small.
If the effect of the time value of money is material, provisions are measured at the present value of management’s best estimate
to settle the present obligation at the end of the reporting period. The discount rate used to determine the present value is a pre
risks specific to the liability. The increase in the provision due to the passage of time is recognized 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
use and a sale is considered highly probable. The criteria for held for sale is considered to have met only when the assets is availa

immediate sale in its present condition, subject only to terms that are usual and customary for sales of such assets, its sale is
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
increases in fair value less costs to sell of an asset, but not in excess of any cumulative impairment loss previously recognised
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) Operating Lease:
The company assesses whether a contract contains a lease, at inception of a contract. A contract is, or contains, a lease if the co
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
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, th
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 an
these options when it is reasonably certain that they will be exercised.
The right-of-use assets are initially recognized at cost, which comprises the initial amount of the lease liability adjusted for any l
prior to the commencement date of the lease plus any initial direct costs less any lease incentives. They are subsequently measur
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
amortized cost at the present value of the future lease payments. Lease liabilities are remeasured with a corresponding adjustme
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
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 fin
Transition
The Ministry of Corporate Affairs on 30 March 2019 notified the new leasing standard, viz., Ind AS 116 Leases. Ind AS 116 is applic
beginning on or after 1 April 2019 for all Ind AS companies. It replaces current guidance under Ind AS 17 Leases.
Effective April 01, 2019 the Company adopted Ind AS 116 and applied the standard to all lease contracts existing on April 01, 2019
retrospective approach and has taken the cumulative adjustment to right of use of assets, on the date of initial application. Cons
recorded the lease liability at the present value of the lease payments discounted at the incremental borrowing rate at the date
On transition; the Company recognised right-of-use assets and lease liabilities for those leases previously classified as operating le
leases and leases of low-value assets. The Company recognised a lease liability measured at the present value of the remaining le
use asset is recognised at its carrying amount as if the standard had been applied since the commencement of the lease, but disc
incremental borrowing rate as at April 1, 2019. The right-of-use assets were recognised based on the amount equal to the lease li
related prepaid and accrued lease payments previously recognised. Lease liabilities were recognised based on the present value o
payments, discounted using the incremental borrowing rate at the date of initial application.
The effect of adoption of Ind AS 116 during current year ended and previous year ended March 31, 2020 is as follows:
The Company has recognised Right of use assets for ` 853.15 Mn and Lease liabilities of ` 853.15 Mn as at April 1, 2019 i.e., transi
equalisation reserve of ` 32.22 Mn and prepaid rent arising due to discounting of security deposit of ` 32.24 Mn has been adjusted
(ROU). The Company also reclassified its leasehold land amounting to ` 135.87 Mn as ROU asset.
During the year ended March 31, 2021, depreciation of ` 228.25 Mn (year ended March 31, 2020 : ` 216.59 Mn) on Right of use ass
56.61 Mn (year ended March 31, 2020 : ` 66.30 Mn) on Lease liabilities has been charged to statement of profit and loss. Accordin
amounting to ` 210.93 Mn (year ended March 31, 2020: ` 224.44 Mn) and Network & other expense of ` 18.35 Mn (year ended Mar
pertaining to the period have not been recognized as expenses. The profit before tax for the year is lower by ` 55.58 Mn (year en
Mn) in view of these changes.
The principle portion of the lease payments have been disclosed under cash flow from financing activities. The lease payments fo
AS 17 - Leases, were earlier reported under cash flow from operating activities. Refer note 3(b) & 10(d) of financial statement fo

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 en
2. The exemption for not recognising right-of-use assets and liabilities for leases with less than 12 months of lease term on t
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 exclud
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
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 Mak
All operating segments’ results are reviewed regularly by the Company’s Managing Director & Chief Executive Officer (MD & CEO)
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
namely recruitment solutions comprising primarily [Link], other recruitment related portals and ancillary services related to
real estate related services, [Link] for matrimony related services and [Link] 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 b
Accordingly, information has been presented along these business segments. The accounting principles used in preparing these fin
consistently applied to record revenue & expenditure in individual segments. The reportable segments represent “Recruitment So
the “Others”.
1: Recruitment Solutions: This segment consists of Naukri (both India and Gulf business) and all other allied business which toget
solutions which are both B2B as well as B2C. Apart from all Other Online business, it also includes Offline headhunting business ‘Q
2: Real State- 99acres: [Link] derives its revenues from property listings, builders’ and brokers’ branding and visibility thr
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 qua
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
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 pe
segment’s revenue earned during the period. To calculate the segment level expenses, certain common expenditures which are i
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 c
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 ori
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 abo
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 attributable to equity holders of the Company
• by the weighted average number of equity shares outstanding during the financial year, adjusted for bonus elements in equit
(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 di
into equity shares.
For the purpose of calculating basic EPS, shares allotted to ESOP trust pursuant to the employee share based payment plan are no
outstanding as on the reporting date till the employees have exercised their right to obtain shares, after fulfilling the requisite ve
time, the shares so allotted are considered as dilutive potential equity shares for the purpose of calculating diluted EPS.

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.
as a vehicle for distributing shares to employees under the employee remuneration schemes. The Company allots shares to the ES
the ESOP trust as its extension and shares held by ESOP Trust are treated as treasury shares. Share options exercised during the re
with treasury shares.
The consideration paid for treasury shares including any directly attributable incremental cost is presented as a deduction from t
cancelled, sold or reissued. When treasury shares are sold or reissued subsequently, the amount received is recognized as an incr
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 ca
For assets measured at fair value, gains and losses are recorded either through profit or loss or through other comprehensive inco
instruments in subsidiaries, associates and jointly control entities these are carried at cost less diminution, if any. However, the g
Investment in Units of Controlled Trust 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 valu
transaction costs that are directly attributable to the acquisition of the financial asset. Transaction costs of financial assets carrie
or loss are expensed in profit or loss.
Upon initial recognition, the Company elects to classify irrevocably its equity investments, on instrument to instrument basis, as
at fair value through OCI that are not held for trading.
Financial assets with embedded derivatives are considered in their entirety when determining whether their cash flows are solely
interest.
Debt instruments
Subsequent measurement of debt instruments depends on the Company’s business model for managing the asset and the cash flow
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 sp
that represent solely payments of principal and interest, are measured at amortised cost. A gain or loss on a debt investment tha
amortised cost is recognised in profit or loss when the asset is derecognized or impaired. Interest income from these financial ass
income using the effective interest rate method.
• Fair value through other comprehensive income (FVTOCI) : Assets that are held for collection of contractual cash flows an
assets, where the assets’ cash flow represent solely payments of principal and interest, are measured at fair value through other
(FVTOCI). Movements in the carrying amount are taken through OCI, except for recognition of impairment gains or losses, interes
exchange gains and losses which are recognised in profit & loss in the same manner as for financial assets measured at amortised
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 valu
or loss on a debt investment that is subsequently measured at fair value through profit or loss is recognised in profit or loss and p
of profit and loss within other income in the period in which it arises. Interest income from these financial assets is included in ot
Equity instruments
The Company subsequently measures all equity investments which are within the scope of Ind AS 109 at fair value, other than inv
in subsidiaries, associates and jointly control entities, which are carried at cost less diminution, if any. Gains and losses on these
recycled to profit or loss. Dividends are recognised as other income in the statement of profit and loss when the right of payment
investment in Controlled Trust is subsequently measured at fair value through Other Comprehensive Income.
iii) Impairment of financial assets
The company assesses on a forward looking basis the expected credit losses associated with its assets carried at amortized cost. T
applied depends on whether there has been a significant increase in credit risk. Note 48 details how the company determines whe
significant increase in credit risk.
For trade receivables only, the Company applies the simplified approach permitted by Ind AS 109 Financial Instruments, which re
to be recognized 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
recipients.
 Where the Company has transferred an asset, the Company evaluates whether it has transferred substantially all risks and rew
financial asset. In such cases, the financial asset is derecognised. Where the entity has not transferred substantially all risks a
the financial asset, the financial asset is not derecognized.
Where the entity has neither transferred a financial asset nor retains substantially all risks and rewards of ownership of the fin
asset is derecognized if the Company has not retained control of the financial asset. Where the Company retains control of th
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 trad
within one year from the balance sheet date, the carrying amounts approximate fair value due to short term maturity of thes
liability (or a part of financial liability) is derecognized from the Company’s balance sheet when the obligation specified in th
is discharged or cancelled or expires.
(vi) Income recognition
Interest income
For all debt instruments measured at amortized cost, interest income is recorded using the effective interest rate (EIR). EIR i
discounts the estimated future cash payments or receipts over the expected life of the financial instrument or a shorter perio
gross carrying amount of the financial asset or to the amortized cost of a financial liability. When calculating the effective int
estimates the expected cash flows by considering all the contractual terms of the financial instrument (for example, prepaym
similar options) but does not consider the expected credit losses. Interest income is included in finance income in the stateme
Dividends
Dividends are recognized in profit or loss only when the right to receive the payments is established, it is probable that the ec
with the dividend will flow to the Company, and the amount of the dividend can be measured reliably, which is generally whe
the dividend.

2.17 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 procee
2.18 Cash dividends to equity holders
The Company recognizes a liability to make cash distributions to equity holders when the distribution is authorised and is no longe
Company, on or before the end of the reporting period but not distributed at the end of the reporting period. A corresponding am
equity.
2.19 Exceptional items
Exceptional items include income or expense that are considered to be part of ordinary activities, however are of such significanc
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 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 w
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

2.20 Critical estimates and judgements

The preparation of financial statements in conformity with the recognition and measurement principles of Ind AS that requires m
accounting estimates which, by definition, will seldom equal the actual results. Management also needs to exercise judgement in
accounting policies. The estimates and assumptions used in the accompanying financial statements are based upon Management’s
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 c
liabilities within the next financial year, is in respect of impairment of non-current investments and has been discussed below. Ke
uncertainty in respect of current tax expense and payable, employee benefits and fair value of unlisted subsidiary entities have b
respective policies.
The areas involving critical estimates or judgments are:
a) Estimation of current tax expenses and payable-Note 46
b) Estimation of Deferred tax Assets-Note 5
c) Estimation of employee benefits - Note 30
d) Share based payments - Note 26
e) Impairment of trade receivable - Note 48
f) Impairment of Investments in subsidiary/JVs and associates - Note 4(a)
 sured on initial recognition at historical cost. Intangibles assets have a finite life and are subsequently carried at
ccumulated impairment losses if any.
ed over the useful life and assessed for impairment whenever there is an indication that the intangible asset may
amortization method for an intangible asset with a finite useful life are reviewed at least at the end of each
eful life or the expected pattern of consumption of future economic benefits embodied in the asset are considered
as appropriate, and are treated as changes in accounting estimates. The amortization expense on intangible
atement of profit and loss unless such expenditure forms part of carrying value of another asset.
an intangible asset are measured as the difference between the net disposal proceeds and the carrying amount of
t of profit or loss when the asset is derecognized.
l lives

0 are fully amortised pro-rata from date of acquisition.

e as to whether there is any indication that an asset may be impaired. If any such indication exists or when annual
n estimate of the recoverable amount of the asset/cash generating unit is made. Recoverable amount is higher of
less costs of disposal and its value in use. Value in use is the present value of estimated future cash flows
an asset and from its disposal at the end of its useful life. For the purpose of assessing impairment, the
vidual asset, unless the asset does not generate cash inflows that are largely independent of those from other
iable group of assets that generates cash inflows from continuing use that are largely independent of the cash
is considered as a cash generating unit (CGU). An asset or CGU whose carrying value exceeds its recoverable
down to its recoverable amount. Assessment is also done at each balance sheet for possible reversal of an
ior accounting periods.

the Company are measured using the currency of the primary economic environment in which the Company
an Rupee (INR) which is its presentation currency as well.

nsactions are recorded by applying to the foreign currency amount the spot exchange rate between the functional
of the transaction.
– Foreign Currency Transactions and Advance Considerations which clarifies the date of transaction for the
use on initial recognition of the related asset, expense or income when an entity has received or paid advance

netary items are translated using the closing rate and non-monetary items that are measured in terms of historical
g the exchange rate at the date of the initial transaction.
ement of monetary items or on translating monetary items at rates different from those at which they were
riod or in previous financial statements are recognised in profit or loss in the year in which they arise.

s are translated using the principles and procedures mentioned above, since these businesses are carried on as if it

m Contracts with Customers” using the modified retrospective approach. Revenue is recognised upon transfer of
an amount that reflects the consideration we expect to receive in exchange for those services (net of goods and

m the following sources viz.

web sites such as, [Link]:-
ees, which is recognized prorata over the subscription / advertising / service agreement, usually ranging between

Real Estate website, [Link] and Education classified website, [Link]:-

ubscription fees, which is recognized over the period of subscription / advertising / service agreement, usually
evenue is recognized on principal to principal basis and recognized gross of
case of [Link].
e:-
or placements at various levels in a client’s organization. Revenue is recognized on the successful completion of

earned in the form of fees and is recognized on completion of the related service.
rvices mentioned in (a) & (b) above where performance obligations are satisfied over time and where there is no
ability of consideration, is recognized ratably over the period of in which services are rendered (subscription
tioned in (c) to (d) above are recognised in the accounting period in which the services are rendered. When there
ate collectability, revenue recognition is postponed until such uncertainty is resolved.
rued amounts are reflected in the Balance sheet as Income received in advance (deferred sales revenue).
expedient recognised the incremental costs of obtaining a contract as an expense when incurred, since the
entity otherwise would have recognised is generally one year or less.

ts

ary and non-monetary benefits that are expected to be settled wholly within 12 months after the end of the
ated service are recognised in respect of employees’ services up to the end of the reporting period and are
d when the liabilities are settled. The liabilities are presented as current employee benefit obligations in the

ations
ted to be settled wholly within 12 months after the end of the period in which the employees render the related
present value of expected future payments to be made in respect of services provided by employees upto the end
nit credit method. The benefits are discounted using the market yields at the end of the reporting period that
related obligation. Remeasurements as a result of experience adjustments and changes in actuarial assumptions

lities in the balance sheet if the entity does not have an unconditional right to defer settlement for at least
ardless of when the actual settlement is expected to occur.

ployment schemes:
nd

for the post-employment benefit namely Provident Fund which is administered through the Regional Provident
ards such fund are recognised as employee benefits expense and charged to the Statement of Profit and Loss
rry any further obligations with respect to this, apart from contributions made on a monthly basis.

ly gratuity for eligible employees in accordance with the Payment of Gratuity Act, 1972 the liability for which is
tion (using the Projected Unit Credit method) at the end of each period. The Gratuity Fund is recognised by the
rough Life Insurance Corporation of India under its Group Gratuity Scheme.
gation denominated in INR is determined by discounting the estimated future cash outflows by reference to
od on government bonds that have terms approximating to the tenor of the related obligation. The liability or
ect of gratuity is the present value of the defined benefit obligation at the end of the reporting period less the fair
alculated by applying the discount rate to the net balance of the defined benefit obligation and the fair value of
benefit expense in the statement of profit and loss.
comprising of actuarial gains and losses, return on plan assets (excluding amounts included in net interest on the
n the effect of asset ceiling (excluding amounts included in net interest on the net defined benefit liability), are
with a corresponding debit or credit to retained earnings through Other Comprehensive Income (OCI) in the period
reclassified to profit or loss in subsequent periods.
nefit obligation resulting from plan amendments or curtailments are recognised immediately in the profit or loss

pense for bonuses. The Company recognises a provision where contractually obliged or where there is a past
ation.

oyment is terminated by the Company before the normal retirement date, or when an employee accepts voluntary
he Company recognises termination benefits at the earlier of the following dates:
 with a corresponding debit or credit to retained earnings through Other Comprehensive Income (OCI) in the period
reclassified to profit or loss in subsequent periods.
nefit obligation resulting from plan amendments or curtailments are recognised immediately in the profit or loss

pense for bonuses. The Company recognises a provision where contractually obliged or where there is a past
ation.

oyment is terminated by the Company before the normal retirement date, or when an employee accepts voluntary
he Company recognises termination benefits at the earlier of the following dates:

draw the offer of those benefits; and (b) when the entity recognises costs for a restructuring that is within the
nt of terminations benefits. In the case of an offer made to encourage voluntary redundancy, the termination
er of employees expected to accept the offer. Benefits falling due more than 12 months after the end of the
t value.

ovided to employees via the Info Edge Limited Employee Option Plan and share-appreciation rights. These are

e Info Edge Employees’ Stock Option Scheme is recognised as an employee benefits expense with a corresponding
e expensed is determined by reference to the grant date fair value of the options granted:
nditions (e.g., the entity’s share price)
nd non-market performance vesting conditions (e.g. profitability, sales growth targets and remaining an employee
, and
ng conditions (e.g. the requirement for employees to save or hold shares for a specific period of time).
esting period, which is the period over which all of the specified vesting conditions are to be satisfied. At the end
mates of the number of options that are expected to vest based on the non-market vesting and service conditions.
original estimates, if any, in profit or loss, with a corresponding adjustment to equity.

sidered to be towards equity settled share based transactions and as per IND AS 102, cost of such options are
e. Company’s share appreciation rights are recognised as employee benefit expense over the relevant service
 od is the tax payable on the current period’s taxable income based on the applicable income tax rate for each
ax assets and liabilities attributable to temporary differences and to unused tax losses.
asis of the tax rates and the tax laws enacted or substantively enacted at the reporting date. Management
eturns with respect to situations in which applicable tax regulations is subject to interpretation. It establishes
de in earlier years, where appropriate, on the basis of amounts expected to be paid to / received from the tax

ary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial
rudence in respect of deferred tax assets. Deferred tax assets are recognized and carried forward only if it is
nts will be available against which such deferred tax asset can be realised. Deferred tax assets and liabilities are
t have been enacted or substantively enacted by the end of the reporting period and are expected to apply when
zed or the deferred income tax liability is settled. The carrying amount of deferred tax assets are reviewed at
extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the
d deferred tax assets are re-assessed at each reporting date and are recognised to the extent that it has become
w the deferred tax asset to be recovered.
temporary differences between the carrying amount and tax bases of investments in subsidiaries, controlled
ments where the company is able to control the timing of the reversal of the temporary differences and it is
in the foreseeable future.
mporary differences between the carrying amount and tax bases of investments in subsidiaries, controlled trust,
where it is not probable that the differences will reverse in the foreseeable future and taxable profit will not be
nce can be utilised.
it or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in
in other comprehensive income or directly in equity, respectively.
a legally enforceable right exists to set off current tax assets and liabilities and the deferred tax balances relate
sets and liabilities are offset where the entity has a legally enforceable right to offset and intends either to settle
le the liability simultaneously.

has a present legal or constructive obligation as a result of past events, it is probable that an outflow of resources
d to settle the obligation and the amount can be reliably estimated. Provisions are not recognised for future

ns, the likelihood that an outflow will be required in settlement is determined by considering the class of
ed even if the likelihood of an outflow with respect to any one item included in the same class of obligations may

terial, provisions are measured at the present value of management’s best estimate of the expenditure required
the reporting period. The discount rate used to determine the present value is a pre-tax rate that reflects the
he provision due to the passage of time is recognized as a finance cost.

ale if their carrying amount will be recovered principally through a sale transaction rather than through continuing
The criteria for held for sale is considered to have met only when the assets is available for

ubject only to terms that are usual and customary for sales of such assets, its sale is highly probable; and it will
re measured at the lower of their carrying amount and fair value less costs to sell.
nitial or subsequent write-down of the asset to fair value less costs to sell. A gain is recognised for any subsequent
an asset, but not in excess of any cumulative impairment loss previously recognised. A gain or loss not previously
non-current asset is recognised at the date of de-recognition.
amortised while they are classified as held for sale.
ale are presented separately from the other assets in the balance sheet.
 tains a lease, at inception of a contract. A contract is, or contains, a lease if the contract conveys the right to
riod of time in exchange of consideration.
t to control the use of an identified asset, the Company assesses whether:
fied asset,
economic benefits from use of the asset through the period of lease
use of asset
, the Company recognises a right of use asset and a corresponding lease liability for all lease arrangements in
h a term of twelve month or less (short term leases). For these short term leases, the Company recognises the
straight line basis over the period of lease.
ons to extend or terminate the lease before the end of the lease term. ROU assets and lease liabilities includes
at they will be exercised.
d at cost, which comprises the initial amount of the lease liability adjusted for any lease payments made at or
plus any initial direct costs less any lease incentives. They are subsequently measured at cost less accumulated

commencement date on a straight-line basis over the lease term. The lease liability is initially measured at
ure lease payments. Lease liabilities are remeasured with a corresponding adjustment to the related right of use
f whether it will exercise an extension or a termination option.
gnition, measurement, presentation and disclosure of leases and requires lessees to account for all leases under a

ately presented in the Balance Sheet and lease payments have been classified as financing cash flows.

2019 notified the new leasing standard, viz., Ind AS 116 Leases. Ind AS 116 is applicable for the financial year
S companies. It replaces current guidance under Ind AS 17 Leases.
d Ind AS 116 and applied the standard to all lease contracts existing on April 01, 2019 using the modified
mulative adjustment to right of use of assets, on the date of initial application. Consequently the Company
ue of the lease payments discounted at the incremental borrowing rate at the date of initial application.
of-use assets and lease liabilities for those leases previously classified as operating leases, except for short-term
mpany recognised a lease liability measured at the present value of the remaining lease payments. The right-of-
as if the standard had been applied since the commencement of the lease, but discounted using the lessee’s
9. The right-of-use assets were recognised based on the amount equal to the lease liabilities, adjusted for any
previously recognised. Lease liabilities were recognised based on the present value of the remaining lease
borrowing rate at the date of initial application.
urrent year ended and previous year ended March 31, 2020 is as follows:
ets for ` 853.15 Mn and Lease liabilities of ` 853.15 Mn as at April 1, 2019 i.e., transition date. The lease
d rent arising due to discounting of security deposit of ` 32.24 Mn has been adjusted with the Right of use asset
ehold land amounting to ` 135.87 Mn as ROU asset.
ciation of ` 228.25 Mn (year ended March 31, 2020 : ` 216.59 Mn) on Right of use assets and interest expense of `
0 Mn) on Lease liabilities has been charged to statement of profit and loss. Accordingly, Contractual lease rentals
31, 2020: ` 224.44 Mn) and Network & other expense of ` 18.35 Mn (year ended March 31, 2020: ` 27.09 Mn)
nized as expenses. The profit before tax for the year is lower by ` 55.58 Mn (year ended March 31, 2020: ` 31.36

ave been disclosed under cash flow from financing activities. The lease payments for operating leases as per Ind
ash flow from operating activities. Refer note 3(b) & 10(d) of financial statement for detailed disclosure.

expedients elected on initial application:

ortfolio of leases of similar assets in similar economic environment with a similar end date
ht-of-use assets and liabilities for leases with less than 12 months of lease term on the date of initial application

surement of the right-of-use asset at the date of initial application have been excluded
ase term where the contract contains options to extend or terminate the lease.
cessions are not considered as a modification to lease, and the rent concessions are considered as other income.
o lease liabilities as at April 1, 2019 is taken at 8.50%
 consistent with the internal reporting provided to the Chief Operating Decision Maker (CODM).
regularly by the Company’s Managing Director & Chief Executive Officer (MD & CEO) who have been identified as
e and position of the Company and makes strategic decisions.
ternet based service delivery operating in four service verticals through various web portals in respective verticals
arily [Link], other recruitment related portals and ancillary services related to recruitment, [Link] for
for matrimony related services and [Link] for education related services.
ivities
nce and allocates resources based on an analysis of various performance indicators by business segments.
along these business segments. The accounting principles used in preparing these financial statements are
enditure in individual segments. The reportable segments represent “Recruitment Solutions” and “99acres” and

ists of Naukri (both India and Gulf business) and all other allied business which together provides complete hiring
Apart from all Other Online business, it also includes Offline headhunting business ‘Quadrangle’.
ts revenues from property listings, builders’ and brokers’ branding and visibility through micro-sites, home page
pers, builders and brokers.
Jeevansathi and Shiksha service verticals since they individually do not meet the qualifying criteria for reportable

before tax to assess the performance of the operating segments. However, the CODM also receives information
monthly basis.

d by subtracting all the segment’s expenses (excluding taxes) incurred during the period from the respective
To calculate the segment level expenses, certain common expenditures which are incurred for the entity as a
gle segment are allocated basis best management estimates to all the segments.
as this type of activity is driven by the central treasury function. Similarly, certain costs including corporate
neral functioning of business are not allocated to segments.

t comprise cash on hand, amount at banks and other short-term deposits with an original maturity of three months
amount of cash and, which are subject to an insignificant risk of changes in value.
s, cash and cash equivalents consist of cash and short-term deposits, as defined above, net of outstanding bank
part of the company’s cash management

ing:
equity holders of the Company
y shares outstanding during the financial year, adjusted for bonus elements in equity shares issued during the year

used in the determination of basic earnings per share to take into account:
al equity shares that would have been outstanding assuming the conversion of all dilutive potential instruments

es allotted to ESOP trust pursuant to the employee share based payment plan are not included in the shares
mployees have exercised their right to obtain shares, after fulfilling the requisite vesting conditions. Till such
dilutive potential equity shares for the purpose of calculating diluted EPS.

OP Trust)
Option Plan Trust (ESOP Trust) for providing share-based payment to its employees. The Company uses the trust
ees under the employee remuneration schemes. The Company allots shares to the ESOP Trust. The Company treats
d by ESOP Trust are treated as treasury shares. Share options exercised during the reporting period are satisfied

luding any directly attributable incremental cost is presented as a deduction from total equity, until they are
ares are sold or reissued subsequently, the amount received is recognized as an increase in equity, and the
is transferred to/ from retained earnings.
the following measurement categories:
r value through other comprehensive income,
r value through profit or loss, and

business model for managing the financial assets and the contractual terms of the cash flows.
osses are recorded either through profit or loss or through other comprehensive income. For investments in equity
ntly control entities these are carried at cost less diminution, if any. However, the gains or losses with respect to
cognised through other comprehensive income.
hen and only when its business model for managing those assets changes.

a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss,
e to the acquisition of the financial asset. Transaction costs of financial assets carried at fair value through profit

to classify irrevocably its equity investments, on instrument to instrument basis, as equity instruments designated
trading.
re considered in their entirety when determining whether their cash flows are solely payment of principal and

depends on the Company’s business model for managing the asset and the cash flow characteristics of the asset.
which the Company has classified its debt instruments:
collection of contractual cash flows and where the contractual terms give rise on specified dates to cash flows
nd interest, are measured at amortised cost. A gain or loss on a debt investment that is subsequently measured at
when the asset is derecognized or impaired. Interest income from these financial assets is included in finance
od.
e income (FVTOCI) : Assets that are held for collection of contractual cash flows and for selling the financial
solely payments of principal and interest, are measured at fair value through other comprehensive income
are taken through OCI, except for recognition of impairment gains or losses, interest revenue and foreign
ed in profit & loss in the same manner as for financial assets measured at amortised cost. The remaining fair value

): Assets that do not meet the criteria for amortised cost, are measured at fair value through profit or loss. A gain
ntly measured at fair value through profit or loss is recognised in profit or loss and presented net in the statement
period in which it arises. Interest income from these financial assets is included in other income.

ty investments which are within the scope of Ind AS 109 at fair value, other than investments in equity instruments
entities, which are carried at cost less diminution, if any. Gains and losses on these financial assets are never
nised as other income in the statement of profit and loss when the right of payment has been established. The
y measured at fair value through Other Comprehensive Income.

asis the expected credit losses associated with its assets carried at amortized cost. The impairment methodology
significant increase in credit risk. Note 48 details how the company determines whether there has been a

ies the simplified approach permitted by Ind AS 109 Financial Instruments, which requires expected lifetime losses
e receivables.

o receive cash flows from the financial asset or

the cash flows of the financial asset, but assumes a contractual obligation to pay the cash flows to one or more
set, the Company evaluates whether it has transferred substantially all risks and rewards of ownership of the
l asset is derecognised. Where the entity has not transferred substantially all risks and rewards of ownership of
ot derecognized.
a financial asset nor retains substantially all risks and rewards of ownership of the financial asset, the financial
not retained control of the financial asset. Where the Company retains control of the financial asset, the asset is
of continuing involvement in the financial asset.

l recognition, as loans and borrowings, payables, as appropriate.

e trade and other payables, loans and borrowings including bank overdrafts. For trade and other payables maturing
ate, the carrying amounts approximate fair value due to short term maturity of these instruments. A financial
derecognized from the Company’s balance sheet when the obligation specified in the contract

ortized cost, interest income is recorded using the effective interest rate (EIR). EIR is the rate that exactly
ents or receipts over the expected life of the financial instrument or a shorter period, where appropriate, to the
et or to the amortized cost of a financial liability. When calculating the effective interest rate, the company
sidering all the contractual terms of the financial instrument (for example, prepayment, extension, call and
expected credit losses. Interest income is included in finance income in the statement of profit and loss.

only when the right to receive the payments is established, it is probable that the economic benefits associated
y, and the amount of the dividend can be measured reliably, which is generally when the shareholders approve

issue of new shares are shown in equity as a deduction, net of tax, from the proceeds.

ash distributions to equity holders when the distribution is authorised and is no longer at the discretion of the
ng period but not distributed at the end of the reporting period. A corresponding amount is recognized directly in

that are considered to be part of ordinary activities, however are of such significance and nature that separate
atements to understand the impact in a more meaningful manner.
s-
wholly owned subsidiaries at higher or lower than the cost / book value
s, jointly controlled entities and associates which are carried at cost in accordance with IND AS 27 to recoverable
wn.
equiring any additional charge to profit or loss.
or sale

nformity with the recognition and measurement principles of Ind AS that requires management to make
ll seldom equal the actual results. Management also needs to exercise judgement in applying the Company’s
ptions used in the accompanying financial statements are based upon Management’s evaluation of the relevant
financial statements. Actual results could differ from these estimates.
e date of the financial statements, which may cause a material adjustment to the carrying amounts of assets and
respect of impairment of non-current investments and has been discussed below. Key source of estimation of
and payable, employee benefits and fair value of unlisted subsidiary entities have been discussed in their

ments are:
ayable-Note 46

JVs and associates - Note 4(a)

 2.21 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
impairment. If the recoverable amount is less than its carrying amount, the impairment loss is accounted for.
Estimates and judgments are continually evaluated. They are based on historical experience and other factors, including expecta
may have a financial impact on the Company and that are believed to be reasonable under the circumstances.
3 (a). Property, plant & equipment Amount (
Particulars Building Leasehold Computers Plant and Furniture Office
improvements equipment and fixtures equipment
Gross carrying amount at cost 74.30 202.46 634.33 39.10 66.06 64.53
As at April 1, 2019 Additions - 10.11 184.56 14.22 10.45 6.75
Reclassified on account of adoption of - -- - - -
Ind AS 116 - 2.24 59.39 0.72 1.61 1.05
Disposals

As at March 31, 2020 74.30 210.33 759.50 52.60 74.90 70.23

Accumulated depreciation 5.35 178.58 442.88 12.80 41.75 47.61
As at April 1, 2019 -- - - - -
Reclassified on account of adoption of 1.34 14.66 115.69 5.70 12.52 9.82
Ind AS 116 - 2.23 59.14 0.34 1.25 1.00
Depreciation charged during the year
Disposals

As at March 31, 2020 6.69 191.01 499.43 18.16 53.02 56.43

Net carrying amount 67.61 19.32 260.07 34.44 21.88 13.80

Gross carrying amount at cost
As at April 1, 2020 Additions Disposals
74.30 210.33 759.50 52.60 74.90 70.23
- - 58.00 2.21 1.45 1.57
- - 2.78 - - 0.20

As at March 31, 2021 74.30 210.33 814.72 54.81 76.35 71.60

Accumulated depreciation
As at April 1, 2020
Depreciation charged during the year 6.69 191.01 499.43 18.16 53.02 56.43
Disposals 1.34 6.64 141.99 5.82 10.10 6.82
- - 2.53 - - 0.18

As at March 31, 2021 8.03 197.65 638.89 23.98 63.12 63.07

Net carrying amount 66.27 12.68 175.83 30.83 13.23 8.53

Note :
Refer Note 10(a) for information on property, plant and equipment pledged/hypothecated as security by the company.
ally, or more frequently when there is an indication for
accounted for.
nd other factors, including expectation of future events that
e circumstances.
Amount (`Mn)
Leasehold Vehicles Total
Land
135.87 34.04 1,250.69
- 135.87 3.58 229.67
-- 135.87
3.95 68.96

- 33.67 1,275.53
7.81 14.04 750.82
7.81 - 7.81
- 5.43 165.16
- 2.72 66.68

- 16.75 841.49

- 16.92 434.04

- 1,275.53
33.67
- 63.23
- 5.65
- 8.63

- 28.02 1,330.13

- 16.75 841.49
- 4.95 177.66
- 4.66 7.37

- 17.04 1,011.78

- 10.98 318.35

security by the company.

 3 (b). Right of use asset Amount (`M
Particulars Building Computers Leasehold Land
Gross carrying amount
As at April 1, 2019* 814.34 31.93 -
Reclassified on account of adoption of Ind AS 116 - - 135.87
Addition 104.50 - -
Disposals 21.27 - -
As at March 31, 2020 897.57 31.93 135.87

Accumulated depreciation

As at April 1, 2019* - - -
Reclassified on account of adoption of Ind AS 116 - - 7.81
Depreciation charged during the year 199.54 14.19 1.96
Disposals 4.06 - -
As at March 31, 2020 195.48 14.19 9.77

Net carrying amount 702.09 17.74 126.10

Gross carrying amount

As at April 1, 2020 897.57 31.93 135.87

Addition 107.99 - -
Disposals 20.48 - -
As at March 31, 2021 985.08 31.93 135.87

Accumulated depreciation

As at April 1, 2020 195.48 14.19 9.77

Depreciation charged during the year 211.20 14.19 1.95
Disposals 8.96 - -
As at March 31, 2021 397.72 28.38 11.72

Net carrying amount 587.36 3.55 124.15

* As at April 01, 2019 the Company adopted Ind AS 116 and applied the standard to all lease contracts existing on April 01, 2019 using
approach and has taken the cumulative adjustment to right of use of assets, on the date of initial application, refer note 2.11.
3 (c). Other Intangible assets Amount (`M

Particulars Enterprise Other software Total

resource planning licenses
software
Gross carrying amount at cost

As at April 1, 2019 2.04 127.79 129.83

Additions - 21.81 21.81
Disposals - - -
As at March 31, 2020 2.04 149.60 151.64

Accumulated amortisation

As at April 1, 2019 2.03 78.89 80.92

Amortisation charged during the year - 30.07 30.07
Disposals - - -
Provision for Impairment (refer note 20) - - -
As at March 31, 2020 2.03 108.96 110.99

Net carrying amount 0.01 40.64 40.65

Gross carrying amount at cost

As at April 1, 2020 2.04 149.60 151.64

Additions - 24.78 24.78
Disposals - - -
As at March 31, 2021 2.04 174.38 176.42

Accumulated amortisation

As at April 1, 2020 2.03 108.96 110.99

Amortisation charged during the year - 28.50 28.50
Disposals - - -
As at March 31, 2021 2.03 137.46 139.49

Net carrying amount 0.01 36.92 36.93

 Amount (`Mn)
Vehicles Total

6.90 853.17
- 135.87
- 104.50
- 21.27
6.90 1,072.27

- -
- 7.81
2.86 218.55
- 4.06
2.86 222.30

4.04 849.97

6.90 1,072.27
- 107.99
- 20.48
6.90 1,159.78

2.86 222.30
2.86 230.20
- 8.96
5.72 443.54

1.18 716.24
existing on April 01, 2019 using the modified retrospective
ication, refer note 2.11.
Amount (`Mn)

Total Intangible assets

under
development

129.83 20.00
21.81 -
- -
151.64 20.00

80.92 -
30.07 -
- -
- 20.00
110.99 20.00

40.65 -

151.64 20.00
 24.78 -
- -
176.42 20.00

110.99 20.00
28.50 -
- -
139.49 20.00

36.93 -
 4. Financial assets
(a) Non current investments
Particulars As at March 31, 2021 As at March 31, 2020
Number of Face Value (`Mn) (`Mn) Number of Face Value
Shares per share Shares per share
(`) (`)
At cost
(A) Investments in Equity instruments of
Subsidiary Companies (fully paid up)
Unquoted
Jeevansathi Internet Services Private 9,800 10 0.10 0.10 9,800 10
Limited
-Two hundred shares (March 31, 2020- Two
hundred shares) are held by the nominees of
the Company
Naukri Internet Services Limited 9,994 10 0.10 9,994 10
Add : Equity component of debt instruments 263.37
Less: Impairment in value of investment (4.22) 259.25
-Six shares (March 31, 2020- Six shares ) are
held by the nominees of the Company
Allcheckdeals India Private Limited 9,847,499 10 98.47 9,847,499 10
Add : Equity component of debt instruments 41.32
Less: Impairment in value of investment (139.79) -
-One share (March 31, 2020- One share ) is
held by Naukri Internet Services Limited
Startup Investments (Holding) Limited 49,994 10 0.50 49,994 10
Less: Impairment in value of investment (2,132.80)
Add : Equity component of debt instruments 2,800.67 668.37
-Six shares (March 31, 2020- Six shares ) are
held by the nominees of the Company
Smartweb Internet Services Limited 48,994 10 0.49 48,994 10
Less: Impairment in value of investment (127.92)
Add : Equity component of debt instruments 213.98 86.55
-Six shares (March 31, 2020- Six shares) are
held by the nominees of the Company
Startup Internet Services Limited 49,994 10 0.50 49,994 10
Add : Equity component of debt instruments 7.27
Less: Impairment in value of investment (7.42) 0.35
-Six shares (March 31, 2020- Six shares) are
held by the nominees of the Company
Interactive Visual Solutions Private Limited - - - - -
Add : Equity component of debt instruments 1.00
Less: Impairment in value of investment (1.00) -

Newinc Internet Services Private Limited - - - - -

Add : Equity component of debt instruments 20.07 20.07

Diphda Internet Services Limited 50,000 10 0.50 0.50 50,000 10

-Six shares (March 31, 2020- Six shares) are

held by the nominees of the Company
As at March 31, 2020
(`Mn) (`Mn)

0.10 0.10

0.10
263.37
(4.22) 259.25

98.47
41.32
(139.79) -

0.50
(2,100.56)
2,800.67 700.61

0.49
(127.92)
213.98 86.55

0.50
7.27
(7.42) 0.35

-
1.00
(1.00) -

20.07 20.07

0.50 0.50
Particulars As at March 31, 2021 As at March 31, 2020
Number of Face Value (`Mn) (`Mn) Number of Face Value
Shares per share Shares per share
(`) (`)
Highorbit Careers Private Limited (refer 26,353 10 656.41 656.41 26,353 10
note 43) 10,000 10 0.10 0.10 - -
-Share premium of ` 24,898.42/- (March 31,
2020-` 24,898.42/-) per share computed on
average basis
Redstart Labs (India) Limited
-Six shares (March 31, 2020-Nil) are held by
the nominees of the Company

Sub-total (A) 1,691.70

(B) Investments in Equity instruments of

Joint ventures (fully paid up)
Unquoted

Makesense Technologies Limited 608,305 10 1,036.09 1,036.09 608,305 10

-Six shares (March 31, 2020- Six shares ) are
held by the nominees of the Company
-Share premium of `1,693.22/- per share
(March 31, 2020- `1,693.22 ) per share

Zomato Limited (formerly known as Zomato 164,451 1 868.80 868.80 164,451 1

Private Limited and Zomato Media Private 29,948 10 20.04 20.04 29,948 10.00
Limited) (refer note 42) 1 10 0.00 0.00 1 10.00
-Share premium of `5,282.02/- (March 31, 994 10 70.61 70.61 994 10.00
2020- `5,282.02 ) per share computed on 1,444 10 10.02 10.02 1,444 10.00
average basis 2,005.56
Greytip Software Private Limited
-Share premium of `659.31/- (March 31,
2020- `659.31/- ) per share computed on
average basis
Terralytics Analysis Private limited
-Share premium of `3,490/- (March 31,
2020-
`3,490/-) per share computed on average
basis
Metis Eduventures Private Limited
-Share premium of `71,026.85/- (March 31,
2020- `71,026.85/- ) per share computed on
average basis
Sunrise Mentors Private Limited
-Share premium of `6,926.48/-(March 31,
2020- `6,926.48/- ) per share computed on
average basis
Sub-total (B)

(C) Investments in Preference shares of

Subsidiary Companies (fully paid up)
Unquoted
Startup Investments (Holding) Limited 2,432,346 100 243.23 2,432,346 100
-0.0001% compulsory convertible preference (220.90)
shares 10.14
Less : Equity component of debt instruments
Add : Interest income on account of
measurement at amortised cost method
32.47

Naukri Internet Services Limited 324,000 100 2,886.32 324,000 100

-0.0001% cumulative redeemable preference (3,117.29)
shares 236.86
5.89
Less : Equity component of debt instruments
Add : Interest income on account of
measurement at amortised cost method
Smartweb Internet Services Limited 3,406,100 100 340.61 3,406,100 100
-0.0001% compulsory convertible preference (4.25)
shares (213.98)
Less: Impairment in value of investment 10.88
Less : Equity component of debt instruments
Add : Interest income on account of
measurement at amortised cost method
133.26
Startup Internet Services Limited 8.00
-0.0001% compulsory convertible preference (7.27)
shares 0.16
Less : Equity component of debt instruments 80,000 100 80,000 100
Add : Interest income on account of
measurement at amortised cost method
0.89
Diphda Internet Services Limited
-0.0001% compulsory convertible preference
34,813,175 100 3,481.32 3,481.32 34,813,175 100
shares

Highorbit Careers Private Limited (refer 6,096 10 151.84 6,096 10

note 43) 21,225 10 3,805.67 21,225 10
-0.01% compulsory convertible preference 142,186,275 1 151.84 572.65 142,186,275 1
shares
-Share premium of ` 24,898.42/- (March 31,
2020-` 24,898.42/-) per share computed on
average basis
Sub-total (C)
(D) Investments in Preference shares of
Joint ventures (fully paid up)
Unquoted
Zomato Limited (formerly known as Zomato
Private Limited and Zomato Media Private
Limited) (refer note 42) 572.65
- 0.0001% cumulative convertible -
preference shares with share premium of
`26,969.94 /- (March 31, 2020-
`26,969.94/- ) per share computed on
average basis
‘- 0.0001% cumulative convertible
preference
shares received as bonus shares

Greytip Software Private Limited 404,696 10 329.96 329.96 404,696 10

-Share premium of `805.32/- (March 31,
2020- `805.32/- ) per share computed on
average basis
Terralytics Analysis Private limited 14,285 10 50.00 50.00 14,285 10
-Share premium of `3490/- (March 31, 2020-
`3490/-) per share computed on average
basis

Metis Eduventures Private Limited 1,750 10 209.38 209.38 1,750 10

-Share premium of `119,634.06/- (March 31,
2020- `119,634.06/- ) per share computed
on average basis

Sunrise Mentors Private Limited 36,426 10 360.95 360.95 36,426 10

-Share premium of `9,899.25/-(March 31,
2020- `9,899.25/- ) per share computed on
average basis

Sub-total (D) 1,522.94

(E) Investments in Debentures of

Subsidiary Companies (fully paid up)
Unquoted

Allcheckdeals India Private Limited 2,355,000 100 235.50 755,000 100

-0.0001% compulsorily convertible (41.32)
debentures into compulsory convertible (4.70)
preference shares 1.29
Less : Equity component of debt instruments
Less: Impairment in value of investment
Add : Interest income on account of
measurement at amortised cost method
190.77
Newinc Internet Services Private Limited 2,993,713 100 299.37 2,993,713 100
-0.0001% compulsorily convertible (20.07)
debentures into compulsory convertible (37.38)
preference shares 0.57
Less : Equity component of debt instruments
Less: Impairment in value of investment
Add : Interest income on account of
measurement at amortised cost method
242.49
Interactive Visual Solutions Private Limited 12,004 100 1.20 12,004 100
-0.0001% compulsorily convertible (1.00)
debentures into compulsory convertible (0.21)
preference shares 0.01
Less : Equity component of debt instruments
Less: Impairment in value of investment
Add : Interest income on account of
measurement at amortised cost method
-
Startup Internet Services Limited 3,500,000 100 350.00 350.00 3,500,000 100
-0.0001% compulsorily convertible
debentures into compulsory convertible
preference shares

Smartweb Internet Services Limited 500,000 100 50.00 50.00 500,000 100
-0.0001% compulsorily convertible
debentures into compulsory convertible
preference shares

Startup Investments (Holding) Limited

-0.0001% compulsorily convertible 64,521,295 100 6,452.12 64,521,295 100
debentures into compulsory convertible
preference shares
Less : Equity component of debt instruments (2,579.77)
Add : Interest income on account of 69.20 3,941.55
measurement at amortised cost method

Redstart Labs (India) Limited 1,500,000 100 150.00 150.00 - -

-0.0001% compulsorily convertible
debentures into compulsory convertible
preference shares
Sub-total (E) 4,924.81

(F) Investments in Units (fully paid up)

(Fair Value through OCI)

Unquoted
Info Edge Venture Fund 10,000,000 100 1,000 10,000,000 100
Add : Gain on fair valuation routed through 49.69
OCI
Sub-total (F) 1,049.69

Total Non current investments

15,000.37
As at March 31, 2020
(`Mn) (`Mn)

656.41 656.41
- -

1,723.84

1,036.09 1,036.09

868.80 868.80
20.04 20.04
0.00 0.00
70.61 70.61
10.02 10.02
2,005.56
 243.23
(220.90)
10.14

32.47

2,886.32
(3,117.29)
236.20
5.23

340.61
(4.25)
(213.98)
10.88

133.26
8.00
(7.27)
0.16

0.89

3,481.32 3,481.32

151.84
3,805.01
151.84 572.65

572.65
-

329.96 329.96
 50.00 50.00

209.38 209.38

360.95 360.95

1,522.94

75.50
(41.32)
(4.70)
1.29

30.77
299.37
(20.07)
(37.38)
0.57

242.49
1.20
(1.00)
(0.21)
0.01

-
350.00 350.00

50.00 50.00
 6,452.12

(2,579.77)
69.20 3,941.55

4,614.81

1,000.00
-
1,000.00

14,672.16
Aggregate amount of quoted investments & market value thereof Aggregate -
amount of unquoted investments 15,000.37
Aggregate amount for impairment in value of investments
2,410.00
Note: FVTPL=Fair value through profit or loss
 -
14,672.16
2,427.45
 (b) Current investments
Particulars As at March 31, 2021 As at March 31, 2020
Number of Amount (`Mn) (`Mn) Number of Amount
Units per unit Units per unit
(`) (`)
Investment measured at FVTPL

Investment in Mutual Funds (unquoted)

(Liquid/ Liquid Plus)

ICICI Prudential Liquid Plan - Direct Plan-Daily - -

Dividend - 1,777,658 100.11

ICICI Prudential Liquid - Direct Plan - Growth - - - 1,258,580 293.78

Aditya Birla Sun Life Liquid Fund - Daily - - 423,260 100.19

Dividend- Direct Plan -

HDFC Liquid Fund-Direct Plan-Dividend-Daily - -

Reinvest - 129,319 1,019.82

HDFC Liquid Fund-Direct Plan-Growth - - - 114,599 3,906.61

IDFC Cash Fund-Daily Dividend (Direct Plan) - - - 4,794 1,001.67

SBI Premier Liquid Fund-Direct Plan-Daily - -

Dividend - 108,584 1,003.25

SBI Premier Liquid Fund - Direct Plan - Growth - - - 31,705 3,109.02

Kotak Liquid Direct Plan Growth - - - 18,988 4,014.87

Kotak Liquid Direct Plan Daily Dividend - - - - 260,123 1,222.81

Reinvest
HSBC Cash Fund-Direct Plan Growth - - - 5,194 1,977.49

Axis Liquid Fund-Direct Plan-Daily Dividend - -

Reinvestment - 101,170 1,000.96

Axis Liquid Fund - Direct-Growth - - - - 302,213 2,204.34

Total current investments -

Aggregate amount of quoted investments & market value thereof Aggregate -
amount of unquoted investments -
Aggregate amount of impairment in value of investments -
As at March 31, 2020
(`Mn) (`Mn)

177.96

369.75

42.41

131.88

447.69

4.80

108.94

98.57

76.23

318.08

10.27

101.27

666.18 2,554.03

2,554.03
-
2,554.03
-
 (c) Trade receivables
Particulars

Unsecured Considered good

Trade Receivables which have significant increase in credit risk

Trade Receivables-credit impaired
Allowance for bad and doubtful debts
Trade Receivables which have significant increase in credit risk
Trade Receivables-credit impaired

Total
No trade or other receivable are due from directors or other officers of the company either severally or jointly with any other p
receivable are due from firms or private companies respectively in which any director is a partner, a director or a member. Tra
interest bearing and are generally on terms of 30 to 90 days.
(d) Cash & bank balances
Particulars

Cash & cash equivalents

Balances with banks:

-In current accounts
-In fixed deposit accounts with original maturity of less than 3 months
Cheque in hand

Cash on hand

Total (A)

Other bank balances

Balances in fixed deposit accounts with original maturity more than 3 months but less than 12 months

Unpaid dividend accounts (refer Note 29)

Total (B)

Total (A)+(B)
There are no repatriation restrictions with regard to cash and cash equivalents as at the end of the reporting period and prior p
 Current
As at March 31, As at March 31,
2021 2020
(`Mn) (`Mn)

53.87 70.05

41.70 51.72
2.41 2.41

(41.70) (51.72)
(2.41) (2.41)

53.87 70.05
her severally or jointly with any other person. Nor any trade or other
s a partner, a director or a member. Trade receivables are non-

Current
As at March 31, As at March 31,
2021 2020
(`Mn) (`Mn)

513.22 386.06
5,812.90 3,858.40
- 6.50

5.56 3.38

6,331.68 4,254.34

19.00 19.80

0.77 0.78

19.77 20.58

6,351.45 4,274.92
end of the reporting period and prior periods.
 (e) Other financial assets
Non-current
As at March 31, As at March 31,
Particulars 2021 2020
(`Mn) (`Mn)
(Unsecured, considered good)

Security deposits 80.96 68.15

Balance in fixed deposit accounts with original maturity more than 12 5,200.00 408.50
months*
Interest accrued on fixed deposits with banks 9.99 4.42
Amount receivable from Controlled trust & joint venture - -
* Includes `22.0 Mn (March 31, 2020 -`245.24 Mn) as margin money with bank

Total 5,290.95 481.07

5. Deferred tax assets

Particulars

Deferred tax asset

- Opening balance
- Adjustment for the year:
- credited/(charged) through profit or loss

Total
Significant components of deferred tax assets are shown in the following table:
As at March 31, (Charged)/credited
Particulars 2021 to profit or loss
(`Mn) (`Mn)
Deferred tax asset
-Routed through profit or loss
-Provision for leave obligations (9.32) (14.34)
-Provision for doubtful debts 8.33 (9.53)
-Provision for Bonus 21.34 7.45
-Provision for Gratuity 23.25 23.25
-Property, Plant & Equipment 59.21 5.65
-Employee stock option scheme compensation (ESOP) 237.79 5.89
-Right to use of asset & Finance lease liability 12.28 5.47
-Security deposit & deferred rent expense 8.10 (0.84)
-Others 1.52 0.01
Total deferred tax assets 362.50 23.01

Set-off of deferred tax liabilities pursuant to set-off provisions :-

-Routed through profit or loss
-Fair valuation of mutual funds - 4.87

Net deferred tax asset 362.50 27.88

 Current
As at March 31, As at March 31,
2021 2020
(`Mn) (`Mn)

7.29 14.48
22,792.16 5,772.72
470.55 181.42
23.16 0.11

23,293.16 5,968.73

As at March 31, As at March 31,

2021 2020
(`Mn) (`Mn)

334.62 415.53

27.88 (80.91)

362.50 334.62

(Charged)/credited As at March 31,

to profit or loss 2020
(`Mn) (`Mn)

(14.34) 5.02
(9.53) 17.86
7.45 13.89
23.25 -
5.65 53.56
5.89 231.90
5.47 6.81
(0.84) 8.94
0.01 1.51
23.01 339.49

4.87 (4.87)

27.88 334.62
 6. Other non-current/current assets
Particulars Non-current
As at March 31, As at March 31,
2021 2020
(`Mn) (`Mn)
(Unsecured, considered good, unless otherwise stated)

Capital advances
Considered good - 4.77
Receivables - credit impaired 55.18 55.18
Less: Provision for doubtful capital advances (55.18) (55.18)
Others
- Amount recoverable in cash or in kind or for value to be received 8.30 17.42
- Prepaid rent - 3.26
- Balance with service tax authorities - -
Less : provision for doubtful advance - -
- -

Total 8.30 25.45

7. Non Current tax assets (net)

Particulars

- Advance tax

Less: provision for tax

- Advance tax - fringe benefits
Less: provision for tax - fringe benefits

Total
8. Equity share capital

Particulars

Authorised capital
150.00 Mn Equity Shares of `10/- each (March 31, 2020 - 150.00 Mn Equity Shares of `10/- each)
Issued, subscribed and paid-up capital
128.52 Mn Equity Shares of `10/- each fully paid up
(March 31, 2020 - 122.27 Mn Equity Shares of `10/- each fully paid up)
Total
 Current
As at March 31, As at March 31,
2021 2020
(`Mn) (`Mn)

- -
- -
- -

231.94 178.69
- -
3.62 3.62
(3.62) (3.62)
- -

231.94 178.69

Non-current
As at March 31, As at March 31,
2021 2020
(`Mn) (`Mn)

10,368.40 9,435.57

(8,974.70) (8,210.93)
29.79 29.79
(28.69) (28.69)

1,394.80 1,225.74

As at March 31, As at March 31,

2021 2020
(`Mn) (`Mn)

1,500.00 1,500.00

1,285.23 1,222.66

1,285.23 1,222.66
 a. Reconciliation of the shares outstanding at the beginning and at the end of the year
As at As at March 31, As at
Particulars March 31, 2021 March 31,
2021 No of (`Mn) 2020 No of
shares shares
Equity shares

At the beginning of the year 122,266,498 1,222.66 122,007,940

Add: Shares held by ESOP Trust at the beginning of the year 249,661 2.50 108,219
Add: Issued during the year under QIP (Refer note 34) 6,067,961 60.68 -
Add: Issued during the year to the ESOP Trust 200,000 2.00 400,000

128,784,120 1,287.84 122,516,159

Add: Shares held by ESOP Trust as at the year end (260,743) (2.61) (249,661)

Outstanding at the end of the year 128,523,377 1,285.23 122,266,498

During the year ended March 31, 2021 , the Company has issued 200,000 (March 31, 2020: 400,000) equity shares of `10/- ea
`10/-per share respectively to the Info Edge Employees Stock Option Plan Trust which have been listed in the respective Sto
passu with the existing equity shares of the Company.
b. Terms/Rights attached to equity shares
The Company has only one class of equity shares having a par value of `10 per share. Each holder of equity shares is entitled to on
Company declares and pays dividend in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval
ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligib
assets of the Company in proportion to their shareholding.

c. Dividends
The Board of Directors in its meeting held on June 11, 2021 has declared an Interim dividend of ` 8.00 per equity share.
d. Details of shareholders holding more than 5% shares in the Company
Particulars As at March 31, 2021 As at March 31, 2020
No. of shares % Holding No. of shares

Equity shares of `10 each fully paid

- Sanjeev Bikhchandani 31,699,159 24.61 31,731,019

- Sanjeev Bikhchandani (Trust) 8,306,219 6.45 8,356,673
- Hitesh Oberoi 6,497,108 5.04 6,547,608
- Axis Mutual Fund Trustee Limited A/C Axis Mutual Fund A/C Axis Long 6,757,330 5.25 6,841,440
Term
Equity Fund

Total 53,259,816 41.35 53,476,740

9. Other equity
Particulars As at March 31,
2021
(`Mn)
Securities premium 26,457.30
General reserve 1,184.35
Stock options outstanding account 499.33
Retained earnings 16,215.75
44,356.73
 As at March 31,
2020
(`Mn)

1,220.08
1.08
-
4.00

1,225.16

(2.50)

1,222.66
00) equity shares of `10/- each fully paid up at
n listed in the respective Stock Exchanges , ranking pari

equity shares is entitled to one vote per share. The

rs is subject to the approval of the shareholders in the
equity shareholders are eligible to receive the remaining

0 per equity share.

As at March 31, 2020

% Holding

25.90
6.82
5.34
5.58

43.64

As at March 31, As at March 31,

2021 2020
(`Mn) (`Mn)
26,457.30 8,227.66
1,184.35 1,036.52
499.33 397.38
16,215.75 13,432.37
44,356.73 23,093.93
 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 purpose
shares in accordance with the provisions 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 pe
applicable regulations. The purpose of these transfers was to ensure that if a dividend distribution in a given year is more than 10
the Company for that year, then the total dividend distribution is less than the total distributable results for that year. Conseque
Companies Act 2013, the requirement to mandatorily transfer a specified percentage of the net profit to general reserve has bee
amount previously transferred to the general reserve can be utilised only in accordance with the specific requirements of Compan

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 Emp

As at March 31, As at March 31, As at March 31,

Particulars 2021 2021 2020
(`Mn) (`Mn) (`Mn)

Securities premium account

Opening balance 8,227.66 8,227.66

Add : Securities premium on shares issued to and held by ESOP Trust as
at
the beginning of the year - -
Add: Securities premium on shares issued during the year (Refer Note
No.
34) 18,689.32 -
26,916.98 8,227.66
Less : Expenses incurred on issue of shares adjusted from Securities
Premium Account (Refer Note no. 34) 459.68 -
Less: Securities premium on shares issued to and held by ESOP Trust as
at
the year end - 26,457.30 -

General reserve

Opening balance 1,036.52 1,018.90

Add: Transfer from Stock Options Outstanding Account 147.83 1,184.35 17.62

Stock options outstanding account

Opening balance 397.38 172.07

Less: Transfer to General reserve 147.83 17.62
Add: Transfer during the year 249.78 499.33 242.93

Retained earnings

Opening balance 13,432.37 12,600.35

Add: Net profit after tax transferred from Statement of Profit and Loss 2,709.38 2,056.65
Add: Remeasurement of post-employment benefit obligation, net of tax 24.31 (48.54)
Add: Gain on financial assets measured at Fair value through OCI 49.69 -
Add: Dividend Paid - (241.68)
Add: Interim Dividend - (735.82)
Add: Corporate Dividend Tax - (198.59)
16,215.75

Total 44,356.73
 sed only for limited purposes such as issuance of bonus

net income at a specified percentage in accordance with

a given year is more than 10% of the paid- up capital of
ults for that year. Consequent to introduction of
t to general reserve has been withdrawn. However, the
cific requirements of Companies Act, 2013

ued to employees under Employee stock option plan.

As at March 31,
2020
(`Mn)

8,227.66

1,036.52

397.38

13,432.37

23,093.93
 10. Financial liabilities
a. Borrowings
Particulars Non-Current Current
As at March 31, As at March 31, As at March 31,
2021 2020 2021
(`Mn) (`Mn) (`Mn)

Secured loans

Term loans from banks 0.72 2.42 1.70

Current maturities transferred to Other financial liabilities - - (1.70)

Total 0.72 2.42 -

a. Term Loans from banks are secured by hypothecation of vehicles taken on lease.
b. Term loans carry interest rates ranging from 9% to 13%. The loan is repayable along with interest with in 3 years from the d
c. Outstanding installments for such term loans ranges from 1-21 installments.

b. Other financial liabilities

Current
Particulars March 31,
2021
Current maturities of term loans transferred from long term borrowings (`Mn)
1.70
Interest accrued but not due on loans 0.02

Total 1.72
c. Trade payables
Particulars Non-Current Current
As at March 31, As at March 31, As at March 31,
2021 2020 2021
(`Mn) (`Mn) (`Mn)
Trade Payables -600.69
- total outstanding dues of micro enterprises and small enterprises
- total outstanding dues of creditors other than micro enterprises and - -
small enterprises - -
Total

- - 600.69
d. Lease Liability
Particulars Non-Current Current
As at March 31, As at March 31, As at March 31,
2021 2020 2021
(`Mn) (`Mn) (`Mn)
Lease liability
Total 436.88 556.53 204.04

436.88 556.53 204.04

 Current
As at March 31,
2020
(`Mn)

3.77
(3.77)

st with in 3 years from the date of loan.

Current
March 31, 2020
(`Mn)
3.77
0.04

3.81

Current
As at March 31,
2020
(`Mn)
-592.05

592.05

Current
As at March 31,
2020
(`Mn)

194.41

194.41
 The following is the movement in lease liabilities for the beginning and at the end of the year
Particulars Year ended
March 31,
2021
Balance at the beginning (`Mn)
750.94
Additions 100.50
Deletions (12.45)
Lease Waivers during the year* (25.36)
Interest on Lease liabilities accrued during the year 56.61
Payment of lease liabilities (including interest) (229.32)
Balance at the end 640.92
*Lease rent waivers received from lessors due to covid 19.
The table below provides details regarding the contractual maturities of lease liabilities on an undiscounted basis:

Year ended
Particulars March 31,
2021
Less than one year (`Mn)
204.04
One to five years 392.32
More than five years 44.56
11. Provisions
Particulars Current
As at March 31,
2021
(`Mn)

Provision for employee benefits

- Gratuity (refer note 30) 137.10

- Leave obligations (refer note 30) 90.98
- Accrued bonus & incentives 434.02

Total 662.10
12. Other liabilities
Particulars Non-Current Current
As at March 31, As at March 31, As at March 31,
2021 2020 2021
(`Mn) (`Mn) (`Mn)
Income received in advance (deferred sales revenue) (refer Note 49) 11.49 9.75 5,196.37
Unpaid dividend (refer Note 29) - - 0.77
Amount due to subsidiary (unsecured) - - 41.82
Advance from customers (refer Note 49) - - 16.89
Employee benefits payable - - 18.83
Others
- TDS payable - - 102.74
- GST
GST payable - - 305.79
Less: Balance with GST authorities - - (211.21)
- GCC VAT
VAT payable - - 6.85
Less: Balance with authorities - - (1.44)
-EPF payable - - 21.10
-Service tax payable under SVLDR scheme - - -
- Other statutory dues - - 0.75
Total 11.49 9.75 5,499.26
 Year ended
March 31, 2020
(`Mn)
853.15
99.35
(24.02)
-
66.30
(243.84)
750.94

ndiscounted basis:

Year ended
March 31, 2020
(`Mn)
194.41
493.33
63.20

Current
As at March 31, As at March 31,
2021 2020
(`Mn) (`Mn)

137.10 127.25
90.98 68.76
434.02 352.80

662.10 548.81

Current
As at March 31, As at March 31,
2021 2020
(`Mn) (`Mn)
5,196.37 4,646.19
0.77 0.78
41.82 -
16.89 21.51
18.83 12.55

102.74 90.76

305.79 209.75
(211.21) (182.22)

6.85 6.26
(1.44) (1.94)
21.10 21.20
- 60.03
0.75 0.88
5,499.26 4,885.75
 13. Revenue from operations

Particulars

Sale of services*
Total

*for disaggregated revenue refer note 28 segment reporting

14. Other income

Particulars

Interest income from financial assets measured at amortised cost

- on fixed deposits with banks
- on other financial assets
Dividend income from financial assets measured at FVTPL
Net gain on disposal of property, plant & equipment
Net gain on financial assets mandatorily measured at FVTPL
Unwinding of discount on security deposits
Interest income on deposits with banks made by ESOP Trust
Miscellaneous income

Total
15. Employee benefits expense

Particulars

Salaries, wages and bonus

Contribution to provident and other funds (refer note 30)
Sales incentives
Staff welfare expenses
Share based payments to employees (refer note 26)
Other employee related expenses

Total
16. Finance costs

Particulars

Interest on borrowings

Interest on Lease liability

Total
Year ended Year ended
March 31, March 31, 2020
2021 (`Mn)
(`Mn)

10,985.97 12,726.95

10,985.97 12,726.95

Year ended Year ended

March 31, March 31, 2020
2021 (`Mn)
(`Mn)

1,087.89 675.00
25.89 47.37
3.17 62.79
0.64 0.65
6.45 61.81
14.18 9.56
13.34 15.82
36.15 3.18

1,187.71 876.18

Year ended Year ended

March 31, March 31, 2020
2021 (`Mn)
(`Mn)

4,448.54 4,307.61
183.31 172.56
427.53 443.30
71.60 100.50
249.78 242.93
109.16 128.82

5,489.92 5,395.72

Year ended Year ended

March 31, March 31, 2020
2021 (`Mn)
(`Mn)
0.37 0.59

56.61 66.30

56.98 66.89
 17. Depreciation and amortisation

Particulars

Depreciation of Property, plant and equipment

Depreciation on right to use asset

Amortisation of Intangible assets

Total
18. Advertising and promotion cost

Particulars

Advertisement expenses

Promotion & marketing expenses

Total
19. Network, internet and other direct charges

Particulars

Internet and server charges

Others

Total
20. Administration and other expenses

Particulars

Electricity and water

Rent
Repairs and maintenance (building)
Repairs and maintenance (machinery)
Legal and professional charges*
Rates & taxes
Insurance
Communication expenses
Travel & conveyance
Bad debts /provision for doubtful debts (net)
Collection & bank related charges
Expenditure towards Corporate Social Responsibility activities (refer note 45)
Impairment of Intangible asset under development
Miscellaneous expenses

Total
*refer note 23 for auditor remuneration
Year ended Year ended
March 31, March 31, 2020
2021 (`Mn)
(`Mn)
177.66 165.16

230.20 218.55
28.50 30.07

436.36 413.78

Year ended Year ended

March 31, March 31, 2020
2021 (`Mn)
(`Mn)
1,793.71 1,967.63

23.44 76.58

1,817.15 2,044.21

Year ended Year ended

March 31, March 31, 2020
2021 (`Mn)
(`Mn)
203.56 183.66

48.67 50.37

252.23 234.03

Year ended Year ended

March 31, March 31, 2020
2021 (`Mn)
(`Mn)

32.09 81.00
24.93 27.38
37.00 58.71
42.31 42.89
176.52 174.29
0.39 60.10
4.27 2.67
31.74 49.92
28.92 119.35
0.97 49.14
50.36 56.44
80.32 108.24
- 20.00
141.89 175.55

651.71 1,025.68
 21. COMMITMENTS
a) Capital commitments
Capital expenditure contracted for at the end of the year but not recognised as liabilities is as follows: Amo

Particulars March 31,

Property, plant & equipment (net of advances) 2021
9.11
22. Expenditure in foreign currency*
Particulars Year ended
March 31,
2021
(`Mn)
Internet and server charges 14.74

Advertising and promotion cost 11.00

Travel & conveyance -
Others 35.76
Foreign branch expenses
-Internet and server charges -
-Advertising and promotion cost 0.15
-Travel & conveyance 2.07
-Employee benefits expense 163.39
-Others 26.65

Total 253.76
* Excluding expenses incurred on issue of shares adjusted from Securities Premium Account
23. Auditor’s Remuneration*
Particulars Year ended
March 31,
2021
(`Mn)
As Auditors
- Audit Fees 5.55
- Tax Audit Fees 0.40
Other Services (including certification) ** 6.66
Reimbursement of Expenses 0.01
Total 12.62
*excluding GST
**including expense amounting to ` 6.53 Mn incurred during current year on issue of shares adjusted from Securities Premium Ac
24. Earnings per share (EPS):
A)

Particulars Year ended

March 31,
2021
Profit attributable to Equity Shareholders (`Mn) (`Mn)
2,709.38
Basic
Weighted average number of Equity Shares outstanding during the year (Nos.) 126,188,125
Basic EPS of `10 each (`) 21.47

Diluted
Weighted average number of Equity Shares outstanding during the year (Nos.) 126,188,125
Add : Weighted average number of potential equity shares on account of employee stock options 901,923
Weighted average number of shares outstanding for diluted EPS 127,090,048

Diluted EPS of `10 each (`) 21.32

 Amount in (`Mn)

March 31, 2020

23.05

Year ended Year ended

March 31, March 31, 2020
2021 (`Mn)
(`Mn)
14.74 16.04

11.00 3.08
- 1.35
35.76 41.57

- 0.76
0.15 0.96
2.07 5.74
163.39 157.32
26.65 18.79

253.76 245.61

Year ended Year ended

March 31, March 31, 2020
2021 (`Mn)
(`Mn)

5.55 5.55
0.40 0.40
6.66 0.05
0.01 0.25
12.62 6.25

d from Securities Premium Account

Year ended Year ended

March 31, March 31, 2020
2021 (`Mn)
(`Mn)
2,709.38 2,056.65

126,188,125 122,081,252
21.47 16.85

126,188,125 122,081,252
901,923 713,755
127,090,048 122,795,007

21.32 16.75
 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
determination of diluted earnings per share to the extent to which they are dilutive. The options have not been included in the d
per share.

25 (1). Related Party Disclosures for the year ended March 31, 2021:
(A) Subsidiaries
Jeevansathi Internet Services Private Limited ( JISPL) Naukri Internet Services Limited (NISL)
Allcheckdeals India Private Limited (ACDIPL)
Interactive Visual Solutions Private Limited (IVSPL) (Subsidiary of ACDIPL) Startup Investments (Holding) Limited (SIHL)
Smartweb Internet Services Limited (SWISL) Startup Internet Services Limited (SISL)
Newinc Internet Services Private Limited (NEWINC) (Subsidiary of ACDIPL) Diphda Internet Services Limited (DISL)
Highorbit Careers Private Limited (HCPL)
Redstart Labs (India) Limited (Redstart) ([Link] 07, 2020)

(B) Joint ventures which entered into transactions with Company

Ideaclicks Infolabs Private Limited ## Shop Kirana E Trading Private Limited # Metis Eduventures Private Limited Sunrise Mentor
Unmarried Marketing Pvt Ltd #
Zomato Limited (formerly known as Zomato Private Limited and Zomato Media Private Limited) Makesense Technologies Limite
International Educational Gateway Private Limited# Nopaperforms solutions private limited#
Llama Logisol Private Limited # Bizcrum Infotech Private Limited # Agstack Technologies Private Limited # Greytip Software Pri

(C) Key Management Personnel

Sanjeev Bikhchandani Hitesh Oberoi
Chintan Thakkar Murlee Manohar Jain

(D) Controlled Trust

Info Edge Venture Fund (IEVF)
(E) Key management personnel compensation
Particular
Short term employee benefits
Employee share based payments
Total compensation
 tial equity shares. They have been included in the
t been included in the determination of basic earnings

ed (SIHL)

ISL)

Limited Sunrise Mentors Private Limited Happily

nse Technologies Limited

d # Greytip Software Private Limited #

(`Mn)
87.30
20.20
107.50
 (F) Details of transactions with related party for the year ended March 31, 2021 in the

Nature of relationship / Subsidiary Joint KMP & Independent Non Enterprise over
transaction Companies Ventures Relatives Directors- Executive which KMP &
Non Director Relatives have
Executive & significant
Relatives influence
1 License Fees Paid:
JISPL 0.10 - - - - -

2 Remuneration Paid:
Sanjeev Bikhchandani - - 28.94 - - -
Hitesh Oberoi - - 28.82 - - -
Chintan Thakkar* - - 42.15 - - -
Murlee Manohar Jain* - - 7.59 - - -
Surabhi Bikhchandani - - 1.82 - - -
3 Receipt of Service:
Minik Enterprises - - - - - 1.13
Oyester Learning - - - - - 2.42
Divya Batra - - 1.33 - - -
HCPL 194.37 - - - - -
4 Services Rendered:
Ideaclicks Infolabs Private - 0.14 - - - -
Limited ##
Nopaperforms solutions - 0.09 - - - -
private
limited#
Shop Kirana E Trading Private - 0.09 - - - -
Limited #
International Educational - 0.21 - - - -
Gateway Private Limited#
Metis Eduventures Private - 0.21 - - - -
Limited
Sunrise Mentors Private - 0.69 - - - -
Limited
Llama Logisol Private Limited - 0.19 - - - -
#
International Foundation for - - - - 0.08
Research & Education
Bizcrum Infotech Private - 0.19 - - - -
Limited #
Agstack Technologies Private - 0.12 - - - -
Limited #
Greytip Software Private - 0.36 - - - -
Limited
HCPL 1.18 - - - - -
5 Unsecured loan/advance
given for business purpose
Smartweb 1.67 - - - - -
Happily Unmarried Marketing - 10.00 - - - -
Pvt Ltd #
ACDIPL 0.05 - - - - -
6 Reimbursement of Expense
NISL 0.61 - - - - -
HCPL 0.15 - - - - -
7 Investment in Equity Share
Redstart 0.10 - - - - -

8 Investment in Debenture
Redstart 150.00 - - - - -
ACDIPL 160.00 - - - - -
r ended March 31, 2021 in the ordinary course of business:
Amount (`Mn)
Controlled Total
Trust

- 0.10

-
-
-
-
- 109.32

-
-
-
- 199.25

-
-

- 3.55

-
-

- 11.72

-
- 0.76
- 0.10

-
- 310.00
 Nature of relationship / Subsidiary Joint KMP & Independent Non Enterprise over
transaction Companies Ventures Relatives Directors- Executive which KMP &
Non Director Relatives have
Executive & significant
Relatives influence
9 Interest on Unsecured loan/
business Advance:
Smartweb 0.08 - - - - -
ACDIPL 0.01 - - - - -
Happily Unmarried Marketing - 0.13 - - - -
Pvt Ltd #
10 Repayment Unsecured loan/
business advance given
(including interest)[Net of
TDS]
Smartweb 1.75 - - - - -
ACDIPL 0.06 - - - - -
Happily Unmarried Marketing - 10.12 - - - -
Pvt Ltd #
11 Sitting Fees:
Bala Deshpande - - - 0.80 - -
Kapil Kapoor - - - - 0.90 -
Naresh Gupta - - - 0.95 - -
Sharad Malik - - - 0.95 - -
Ashish Gupta - - - 0.50 - -
Geeta Mathur - - - 0.95 - -
Saurabh Srivastava - - - 1.30 - -
12 Commission Payable
Bala Deshpande - - - 0.55 - -
Arun Duggal (till December - - - 0.56 - -
19,
2019)
Naresh Gupta - - - 1.00 - -
Ashish Gupta - - - 0.75 - -
Sharad Malik - - - 0.75 - -
Geeta Mathur - - - 0.91 - -
Saurabh Srivastava - - - 0.75 - -
13 Rent Received
Zomato Limited (formerly - 0.02 - - - -
known as Zomato Private
Limited and Zomato Media
Private Limited)
ACDIPL 0.02 - - - - -
JISPL 0.02 - - - - -
IVSPL 0.05 - - - - -
SIHL 0.02 - - - - -
SWISL 0.02 - - - - -
SISL 0.02 - - - - -
NEWINC 0.02 - - - - -
DISL 0.02 - - - - -
NISL 0.02 - - - - -
HCPL 0.02 - - - - -
Redstart 0.02 - - - - -
 Makesense Technologies - 0.02 - - - -
Limited
14 Payment towards Corporate
Social Responsibility
activities (refer note no. 45)
International Foundation for
Research & Education - - - - - 11.50
15 Interest income
IEVF - - - - - -
 Amount (`Mn)
Controlled Total
Trust

-
-
- 0.22

-
-
- 11.93

-
-
-
-
-
-
- 6.35

-
- -

-
-
-
- -
- 5.27

-
-
-
-
-
-
-
-
-
-
-
 - 0.29

- 11.50

25.02 25.02
 *including employee share based payments.
#joint venture of SIHL (wholly owned subsidiary)
## joint venture of ACDIPL (wholly owned subsidiary)
(G) Amount due to / from related

Sr. No Nature of relationship / Subsidiary Joint KMP & Independent Non Enterprise over
transaction Companies Ventures Relatives Directors Executive which KMP &
Non Director Relatives have
Executive significant
influence
1 Amount receivable against
Service rendered and sub
lease
Zomato Limited (formerly - 0.13 - - - -
known as Zomato Private
Limited and
Zomato
IEVF Media Private Limited) - - - - - -
2 Amount payable against
Services received
HCPL
41.82 - - - - -
(H) Terms & conditions
Transactions related to investment in wholly owned subsidiaries made in debenture/preference share were made at face value. A
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 d
basis for the Company as a whole

25 (2) . Related Party Disclosures for the year ended March 31, 2020: (A). Subsidiaries
Jeevansathi Internet Services Private Limited ( JISPL) Naukri Internet Services Limited (NISL)
Allcheckdeals India Private Limited (ACDIPL)
Applect Learning Systems Private Limited (ALSPL) (till January 02, 2020) (refer Note 39) Interactive Visual Solutions Private Limited (
Startup Investments (Holding) Limited (SIHL) Smartweb Internet Services Limited (SWISL) Startup Internet Services Limited (SISL)
Newinc Internet Services Private Limited (NEWINC)(Subsidiary of ACDIPL) Diphda Internet Services Limited (DISL)
Highorbit Careers Private Limited(HCPL)(w.e.f. June 25, 2019) (refer Note 38)

(B). Joint ventures which entered into transactions with Company

Bizcrum Infotech Private Limited# Greytip Software Private Limited
 Amount due to / from related parties as at March 31, 2021
Amount (`Mn)
Controlled Total
Trust

23.03 23.16

- 41.82

are were made at face value. All other transactions were

nd leave benefits, as they are determined on an actuarial

sual Solutions Private Limited (IVSPL) (Subsidiary of ACDIPL)

rnet Services Limited (SISL)
mited (DISL)
 Happily Unmarried Marketing Private Limited# Ideaclicks Infolabs Private Limited ##
International Educational Gateway Private Limited# Makesense Technologies Limited
Medcords Healthcare Solutions Private Limited# Metis Eduventures Private Limited Nopaperforms solutions private limited#
Rare Media Company Private Limited# Sunrise Mentors Private Limited Terralytics Analysis Private Limited Unnati Online Private
Private Limited

(C). Key Management Personnel

Sanjeev Bikhchandani Hitesh Oberoi
Chintan Thakkar Murlee Manohar Jain

(D). Controlled Trust

Info Edge Venture Fund (IEVF) (refer note no. 40)
(E). Key management personnel compensation

Particular
Short term employee benefits
Employee share based payments
Total compensation
(F). Details of transactions with related party for the year ended March 31, 2020 in the

Sr. No Nature of relationship / Subsidiary Joint KMP & Independent Non Enterprise over
transaction Companies Venture Relatives Directors- Executive which KMP &
s Non Director Relatives have
Executive & significant
Relatives influence
1 License Fees Paid:
JISPL 0.10 - - - - -

2 Remuneration Paid: Sanjeev - - 15.93 - - -

Bikhchandani Hitesh Oberoi - - 16.71 - - -
Chintan Thakkar* Murlee - - 35.82 - - -
Manohar Jain* Surabhi - - 8.75 - - -
Bikhchandani - - 1.73 - - -

3 Receipt of Service: Minik - - - - - 1.49

Enterprises Oyester Learning - - - 1.25 - - 2.09
Divya Batra - 39.63 - - - - -
HCPL - - - -
4 Dividend Paid Sanjeev - - 253.85 - - -
Bikhchandani Hitesh Oberoi - - 52.38 - - -
Surabhi Bikhchandani - - 11.95 - - -
Dayawanti bikhchandani - - 11.75 - - -
Chintan Thakkar - - 0.08 - 0.29 - -
Arun Duggal Saurabh - - - - 0.43 - -
Srivastava Bala Deshpande - - - 4.31 - -
Sharad Malik - - - - 0.44 - -
Endeavour Holding Trust - - - 0.69 - - 67.01
Ashish Gupta - - - - - -
Nita Goyal Kapil Kapoor - - - - -
- - - - 20.49 -
- - -
s solutions private limited#
e Limited Unnati Online Private Limited# Zomato Media

(`Mn)
57.79
19.42
77.21
r ended March 31, 2020 in the ordinary course of business:
Amount (`Mn)
Controlled Total
Trust

- 0.10

-
-
-
-
-

78.94
-
-
-
-

44.46
-
-
-
-
-
-
-
-
-
-
-
-
-

423.67
Sr. No Nature of relationship / Subsidiary Joint KMP & Independent Non Enterprise over
transaction Companies Venture Relatives Directors- Executive which KMP &
s Non Director Relatives have
Executive significant
& Relatives influence
5 Services Rendered: 0.45 - 0.69 - - - -
ALSPL - 0.02 - - - -
Zomato Media Private Limited - 0.03 - - - -
Happily Unmarried Marketing - 0.03 - - - -
Private Limited# - 0.20 - - - -
Ideaclicks Infolabs Private -- - - - - 0.03
Limited ## - - 0.20 - - - 0.10
Bizcrum Infotech Private - 0.06 - - - -
Limited# - 0.37 - - - -
Nopaperforms solutions - - 0.26 - - - -
private - - - - -
limited# 0.97 - - - -
Oyester Learning International - - - -
Foundation for Research &
Education
Medcords Healthcare Solutions
Private Limited#
Sunrise Mentors Private
Limited Greytip Software
Private Limited
HCPL
International Educational
Gateway Private Limited#

6 Investment in Equity Shares - 20.04 - - - -

Greytip Software Private - 70.61 - - - -
Limited - 10.02 - - - -
Metis Eduventures Private
Limited
Sunrise Mentors Private
Limited
7 Investment in Preference 100.00 - - - - -
Shares 3,481.32 - 329.96 - - - -
SWISL DISL - 209.38 - - - -
Greytip Software Private - 360.95 - - - -
Limited - 50.00 - - - -
Metis Eduventures Private - - - - -
Limited
Sunrise Mentors Private
Limited Terralytics Analysis
Private
Limited

8 Investment in Debentures 50.00 - - - - -

SWISL SISL SIHL 350.00 - - - - -
2,229.54 - - - - -

9 Investment in Units
IEVF - - - - - -

10 Redemption of Preference
shares 3,400.00 - - - - -
NISL

11 Advance given for business

purpose 2.09
Smartweb ACDIPL - - - - -
0.07
12 Repayment of advance given
for business purpose 2.09 - - - - -
Smartweb 0.07 - - - - -
ACDIPL
 Controlled Total
Trust

-
-
-
-
-
-
-
-
-
-
-
-
-

3.41
-
-
-

100.67
-
-
-
-
-
-

4,531.61
-
-
- 2,629.54

1,000.00 1,000.00

-
3,400.00

- 2.16
-
2.16
-
Sr. No Nature of relationship / Subsidiary Joint KMP & Independent Non Enterprise over
transaction Companies Venture Relatives Directors- Executive which KMP &
s Non Director Relatives have
Executive significant
& Relatives influence
13 Sitting Fees: - - - 0.70 - -
Arun Duggal (till December - - - 0.60 - 1.10 -
19, 2019) - - - - 1.23 - -
Bala Deshpande Kapil Kapoor - - - 1.05 - -
Naresh Gupta Sharad Malik - - - 0.60 - -
Ashish Gupta Geeta Mathur - - - 0.88 - -
Saurabh Srivastava - - - 1.50 - -
- - - -

14 Rent Received - 0.02 0.02 - - - -

Zomato Media Private Limited 0.02 - - - - -
ACDIPL 0.04 - - - - -
JISPL IVSPL SIHL SWISL SISL 0.02 - - - - -
NEWINC DISL NISL HCPL 0.02 - - - - -
Makesense Technologies 0.02 - - - - -
Limited 0.02 - - - - -
0.02 - - - - -
0.02 - - - - -
0.01 - - - - -
- - 0.02 - - - -
- - - -

15 Payment towards Corporate

Social Responsibility
activities (refer note no. 45) - - - - - 10.00
International Foundation for
Research & Education
*including employee share based payments. #joint venture of SIHL (wholly owned subsidiary)
## joint venture of ACDIPL (wholly owned subsidiary)
(G). Amount due to / from related parties as at March 31, 2020 Amo

Sr. No Nature of relationship / Subsidiary Joint KMP & Independe Non Enterprise over
transaction Companies Venture Relatives nt Executive which KMP &
s Directors Director Relatives have
Non significant
Executive influence
1 Amount receivable against
Service rendered & sub lease - 0.11 - - - -
Zomato Media Private Limited

(H). Terms & conditions

Transactions related to investment in wholly owned subsidiaries made in debenture/preference share were made at face value.
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
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 s
shareholders through postal ballot on April 16, 2016. The employee stock option plan is designed to provide incentives to employees
designation of managers to deliver long-term returns. Under the plan, participants are granted options which vest upon completion o
the grant date. Participation in the plan is at the board appointed committee’s discretion and no individual has a contractual right 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)
types of share based payment arrangements, have been granted to employees. The scheme only provides for equity settled grants to
 Amount (`Mn)
Controlled Total
Trust

-
-
-
-
-
-
-
-

7.66
-
-
-
-
-
-
-
-
-
-
-
-

0.25

10.00

Amount (`Mn)

Controlled Total
Trust

-
0.11

share were made at face value. All other transactions were

and leave benefits, as they are determined on an actuarial

annual general meeting. ESOP scheme 2015 was approved by
ovide incentives to employees generally at and above the
s which vest upon completion of three years of service from
vidual has a contractual right to participate in the plan or to

(SAR) and Stock options (ESOP), with substantially similar

des 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 gran
settlement. The SAR/options granted till March 31, 2021 have a vesting period of maximum 3 years from the date of grant.
Set out below is a summary of SAR/options granted under the plan:
March 31, 2021 March 31, 2020
Weighted Average Number of Weighted Average
exercise price options exercise price
per share option per share option
Opening balance (`) 1,124.49 1,519,068 (`) 829.25
Granted during the year 3,102.93 120,800 1,932.22
Exercised during the year * 732.51 241,706 790.60
Forfeited during the year 1,557.79 84,537 1,003.42
Expired during the year - - -
Closing balance 1,350.67 1,313,625 1,124.49
Vested and exercisable 773,718
*The weighted average share price at the date of exercise of options exercised during the year ended March 31, 2021 was `4,264.
`2,280.63).
Share options outstanding at the end of the year have the following exercise price range :
Exercise price (`) (Range) March 31, 2021

0-300 202,405

300-600 -
600-900 415,035
900-above 696,185
Total 1,313,625
Weighted average remaining contractual life of options outstanding at end of year 4.49
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 opt
date, and expected price volatility of the underlying share, the expected dividend yield and the risk free interest rate for the ter
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 exer
years after vesting.

March 31, 2021

Fair Value of options (` per share) 1,307.39
Share price at measurement date (` per share) 3,419.39
Expected volatility (%) 39.68%
Dividend yield (%) 0.24%
Risk-free interest rate (%) 5.24%
Expected Life (Years) 4.29
The expected price volatility is based on the historic volatility (based on the remaining life of options), adjusted for any expected cha

Expense arising from share-based paymen

Total expenses arising from share-based payment transactions recognised in profit or loss as part of employee be

March 31, 2021

Total employee share-based payment expense (Stock appreciation rights) 193.98
Total employee share-based payment expense (Employee Stock Options ) 55.80
Total employee share-based payment expense 249.78
27. The Company has received various legal notices of claims/lawsuits filed against including suits relating to infringement of Intell
Consumer suits, [Link] relation to the business activities carried on by it. The management based on internal assessment and legal op
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 we
verticals namely recruitment solutions comprising primarily [Link], other recruitment related portals and ancillary services rela
[Link] for real estate related services, [Link] for matrimony related services and [Link] for education related
 price specified in the grant, there is no option of cash
m the date of grant.

March 31, 2020

Number of
options

1,772,238
441,175
389,206
305,139
-
1,519,068
693,421
arch 31, 2021 was `4,264.36 (March 31, 2020 -

March 31, 2020

282,105

-
513,910
723,053
1,519,068
4.12

xercise price, term of option, the share price at grant

e interest rate for the term of option.

s. Vested options are exercisable for a period of four

March 31, 2020

822.81
2,253.74
34.71%
0.36%
6.55%
4.43
sted for any expected changes to future volatility due to
publicly available information.
om share-based payment transactions (refer Note 15)
oss as part of employee benefit expense were as follows:
Amount (`Mn)

March 31, 2020

146.98
95.95
242.93
g to infringement of Intellectual Property Rights (IPR),
al assessment and legal opinion obtained, believes that

rticals through various web portals in respective

and ancillary services related to recruitment,
om for education related services.
 The Managing Director & Chief Executive Officer of the Company examines the Company’s performance both from a business & ge
has identified as reportable segment of its business which are “Recruitment Solutions” and “99acres” ; the “Other segments” com
& Shiksha verticals are not considered as reportable operating segment since they individually do not meet qualifying criteria for
per Ind AS 108.
Business Segment Amount (` Mn)

Particular 2020-21
1 Segment Revenue:
Recruitment solutions 7,709.63
99acres for real estate 1,737.78
Others 1,538.56
Segment Revenue-Total 10,985.97
2 Results (Profit) after tax:
Recruitment Solutions 4,027.92
99acres for real estate (356.95)
Others (1,010.65)
Total Segment Result 2,660.32
Less: unallocable expenses (378.70)
Add : unallocated income 1,187.71
Exceptional Item -loss (32.24)
Profit Before Tax 3,437.09
Tax Expense 727.71
Profit after tax 2,709.38
3 Assets
Recruitment solutions 468.54
99acres for real estate 234.21
Others 102.79
Total Segment Assets 805.54
Unallocable assets 52,253.32
Total assets 53,058.86
4 Liabilities
Recruitment solutions 4,507.65
99acres for real estate 1,276.68
Others 872.12
Total Segment Liabilities 6,656.45
Unallocable liabilities 760.45
Total Liabilities 7,416.90
Significant clients
No client individually accounted for more than 10% of the revenues in the year ended March 31, 2021 & March 31, 2020.

Particulars 2020-21 2019-20

Domestic Overseas Unallocated Total Domestic Overseas Unallocated
Revenue from customers (sale of
services) 10,198.29 787.68 - 10,985.97 11,812.02 914.93 -

Segment assets 35,533.64 151.46 17,373.76 53,058.86 11,468.60 125.37 19,516.15

Notes :-
a) Domestic segment revenue includes sales and services to customers located in India and overseas segment (primarily in Gul
sales and services rendered to customers located outside India. Segment revenue is measured in the same way as in the State
b) Segment assets includes fixed assets, trade receivables, cash and bank balances (except dividend bank account), loans & ad
assets and are measured in the same way as in the financial statements. These assets are allocated based on the operations o
physical location of the assets. Unallocated assets include dividend bank accounts, investments, Interest accrued and Deferre
c) Segment liabilities includes borrowings, trade payable, other current liabilities, provisions and other financials liabilities. S
measured in the same way as in the financial statements. These liabilities are allocated based on the operations of the segme
 both from a business & geographical prospective and
the “Other segments” comprises primarily Jeevansathi
eet qualifying criteria for the reportable segment as

Amount (` Mn)

2019-20

9,067.60
2,279.61
1,379.74
12,726.95

4,810.32
(57.91)
(708.34)
4,044.07
(497.43)
876.18
(1,232.95)
3,189.87
1,133.22
2,056.65

539.33
242.77
144.47
926.57
30,183.55
31,110.12

4,027.53
1,032.30
779.09
5,838.92
954.61
6,793.53

March 31, 2020.

B) Geographical Segment
Amount (`Mn)
019-20
Unallocated Total

- 12,726.95

19,516.15 31,110.12

segment (primarily in Gulf countries) revenue includes

same way as in the Statement of Profit and loss.
bank account), loans & advances and other current
based on the operations of the segment and the
erest accrued and Deferred Tax asset.
her financials liabilities. Segment liabilities are
e operations of the segment.
 29. As at March 31, 2021 the Company had `0.50 Mn (March 31, 2020: `0.56 Mn ) outstanding with Yes Bank, `0.05 Mn (March 31, 202
ICICI Bank, `0.14 Mn (March 31, 2020 `0.09 Mn ) outstanding with HDFC Bank and `0.08 Mn (March 31, 2020 `0.08 Mn) outstanding wit
dividend. These amounts are not available for use by the Company and will be credited to Investor Education & Protection Fund as an

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 e
12% of wages, subject to ceiling of ` 1800 per month as defined under the Employees Provident Fund Scheme,1952. The contributions
provident fund administered by the Government. The obligation of the group is limited to the amount contributed and it has no furth
constructive obligation.
During the year, the Company has recognised the following amounts towards define contribution plan in the Statement of Profit and

Particulars Year ended

March 31,
2021 (`Mn)
Employers’ Contribution to Provident Fund 100.39
Included in ‘Contribution to provident and other funds’ under Employee Benefits Expense (Refer Note 15)
B. Other Long term benefits
Leave obligations:
The leave obligations cover the Company’s liability for earned leave.
The amount of the provision for `90.98 Mn (March 31, 2020 - `68.76) is presented as current, since the Company does not have an
settlement for any of these obligations. However, based on past experience, the Company does not expect all employees to take
leave or require payment with in the next twelve months.

Particulars March 31,

Current leave obligations expected to be settled with in the next twelve months 2021
46.02
Assumption used by the Actuary
Leave Encashment / Compensated
Particulars Absences
Year ended
March 31, 2021
Discount Rate (per annum) 5.85%
Rate of increase in Compensation levels 10% for First 5 years,
& 8% thereafter
The estimates of future salary increases considered in the actuarial valuation takes into account factors like inflation, seniority, p
factors.
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 continu
years are eligible for gratuity. The amount of gratuity payable on retirement/termination is the employees last drawn basic salar
proportionately for 15 days salary multiplied for the number of years of service. The gratuity plan is a funded plan and the Compa
recognised funds in India.
Assumption used by the Actuary

Particulars Gratuity
Year ended
March 31, 2021
Discount Rate (per annum) 5.85%
Rate of increase in Compensation levels 10% for First 5 years,
& 8% thereafter
 ank, `0.05 Mn (March 31, 2020 `0.05 Mn ) outstanding with
20 `0.08 Mn) outstanding with Indusind Bank as unclaimed
ation & Protection Fund as and when due.

tribution to be made by the employer is set at a rate of

heme,1952. The contributions are made to registered
ntributed and it has no further contractual nor any

the Statement of Profit and Loss –

Year ended Year ended

March 31, March 31,
2021 (`Mn) 2020 (`Mn)
100.39 100.30
ote 15)

he Company does not have an unconditional right to defer

expect all employees to take the full amount of accrued

Amount (`Mn)
March 31, March 31,
2021
46.02 2020
30.31

cashment / Compensated
Year ended
March 31, 2020
5.65%
10% for First 5 years,
& 8% thereafter
ors like inflation, seniority, promotions and other relevant

Employees who are in continuous service for a period of 5

loyees last drawn basic salary per month computed
a funded plan and the Company makes contribution to

Gratuity
Year ended
March 31, 2020
5.65%
10% for First 5 years,
& 8% thereafter
 The amounts recognised the balance sheet & movements in the net defined benefit obligation over the year are as follows :
Changes in the Present Value of Obligation

Present Value of Obligation at the beginning of the year

Interest Cost
Current Service Cost
Benefits paid
Remeasurment due to
-Actuarial loss/(gain) arising from change in financial assumptions
-Actuarial loss/(gain) arising on account of experience changes
-Actuarial loss/(gain) arising on account of demographical assumptions

Present Value of Obligation at the end of the year

Changes in the Fair value of Plan Assets

Fair Value of Plan Assets at the beginning of the year

Interest on Plan Assets
Actuarial Gains/(Losses)
Contributions made by the Company
Benefits Paid
Fair Value of Plan Assets at the end of the year
Reconciliation of Present Value of Defined Benefit Obligation and the Fair value of Assets

Present Value of funded obligation at the end of the year

Fair Value of Plan Assets as at the end of the year
Deficit of funded plan
*included in Provision for employee benefits (refer Note 11)
The present value of the defined benefit obligation relates primarily to active employees.
Expense recognised in the Statement of Profit and Loss

Current Service Cost

Past Service Cost
Interest Cost
(Gains)/Loss on Settlement
Total Expenses recognized in the Statement of Profit and Loss #
#Included in ‘Contribution to provident and other funds’ under ‘Employee benefits expense’ (refer Note 15)
Amount recorded in Other comprehensive Income (OCI)

Remeasurments during the year due to

-changes in financial assumptions
-changes in demographic assumptions
-Experience adjustments
-Actual return on plan assets less interest on plan assets
Amount recognised in OCI during the year
*included in Provision for employee benefits (refer Note 11)
bligation over the year are as follows :
Year ended Year ended
March 31, March 31, 2020
2021 (`Mn) (`Mn)
445.61 344.80
25.16 24.01
70.02 58.12
(23.85) (36.37)

(4.51) 47.78
(18.72) 7.30
(5.12) (0.03)

488.59 445.61
Year ended Year ended
March 31, March 31, 2020
2021 (`Mn) (`Mn)
318.36 265.74
17.97 18.50
4.14 (9.81)
34.87 80.30
(23.85) (36.37)
351.49 318.36
March 31, March 31, 2020
2021
(`Mn) (`Mn)
(488.59) (445.61)
351.49 318.36
(137.10) (127.25)

Year ended Year ended

March 31, March 31, 2020
2021 (`Mn) (`Mn)
70.02 58.12
- -
7.19 5.51
Nil Nil
77.21 63.63
nse’ (refer Note 15)
Year ended Year ended
March 31, March 31, 2020
2021 (`Mn) (`Mn)

4.51 (47.78)
5.12 0.03
18.72 (7.30)
4.14 (9.81)
32.49 (64.86)
 (D) Sensitivity analysis
The sensitivity of the defined benefit obligation to changes in the weighted principal assumption is:
Impact on defined benefit obligation
Change in assumption Increase in assumption Decrease in assumption
March 31, March 31, March 31, March 31,
2021 2020 2021 2020
Discount Rate 0.50% 0.50% Decrease by -4.20% -4.10% Increase by
Salary growth rate 0.50% 0.50% Increase by 2.80% 2.80% Decrease
The above sensitivity analyses are based on a change in an assumption while holding all other by
assumptions constant. In practice, t
changes in some of the assumptions may be correlated. When calculating the sensitivity of the defined benefit obligation to signif
the same method (present value of the defined obligation calculated with the projected unit credit method at the end of reportin
as when calculating the defined benefit liability recognised in the balance sheet.
The methods and types of assumptions used in preparing the sensitivity analysis did not change compared to the prior year.

(E) Major Category of Plan Asset as a % of total Plan Assets

Category of Assets (% Allocation) As at March 31, As at March 31, As at March 31,
2021 2020 2021
% (`Mn)
Insurer managed funds 100.00% 100.00% 351.49
- - -
Total 100.00% 100.00% 351.49
(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, t
gratuity fund is administered through Life Insurance Corporation of India (insurer) under its group gratuity scheme. Accordingly al
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 plan
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, 2021 is ` 201.44 mn. The we
the defined benefit obligation is 9 years (March 31, 2020- 9 years).
The expected maturity analysis of undiscounted post employment benefit plan (gratuity) is as follows :

Particulars Less than a year Between 1-2 years Between 2-5 years
March 31, 2021
Defined benefit obligation (gratuity) 60.15 53.06 133.94

March 31, 2020

Defined benefit obligation (gratuity) 55.15 50.26 125.27
tion is:
ed benefit obligation
Decrease in assumption
March 31, March 31,
2021 2020
4.50% 4.40%
-2.80% -2.70%
assumptions constant. In practice, this is unlikely to occur, and
e defined benefit obligation to significant actuarial assumptions
credit method at the end of reporting period) has been applied

ge compared to the prior year.

As at March 31, As at March 31,

2021 2020
(`Mn) (`Mn)
351.49 318.36
- -
351.49 318.36

cant of which are detailed below:

plan assets underperform this yield, this will create a deficit. The
roup gratuity scheme. Accordingly almost the entire plan asset
naged by the insurer.

y an increase in the value of the plans’ assets maintained by the

roup Gratuity Scheme.

t one year.
rch 31, 2021 is ` 201.44 mn. The weighted average duration of

s follows :

Over 5 years Total

663.36 910.51

570.01 800.69
 31. Regulation 34(3) read with para A of Schedule V to Securities And Exchange Board of India (Listing Obligations And Disclosu
Regulations, 2015:
Particulars

Advance to Subsidiary- Allcheckdeals India Pvt Ltd

Balance at the year end
Maximum amount outstanding at any time during the year

Advance to Subsidiary- Interactive Visual Solutions Pvt. Ltd.

Balance at the year end
Maximum amount outstanding at any time during the year

Advance to Subsidiary- Startup Investment (Holding) Ltd.

Balance at the year end
Maximum amount outstanding at any time during the year

Advance to Subsidiary- Startup Internet Services Ltd

Balance at the year end
Maximum amount outstanding at any time during the year

Advance to Subsidiary- Smartweb Internet Services Ltd

Balance at the year end
Maximum amount outstanding at any time during the year

Advance to Subsidiary- Newinc Internet Services Pvt. Ltd.

Balance at the year end
Maximum amount outstanding at any time during the year

Advance to Subsidiary- Naukri Internet Services Ltd.

Balance at the year end
Maximum amount outstanding at any time during the year

Advance to Subsidiary- Diphda Internet Services Pvt Ltd

Balance at the year end
Maximum amount outstanding at any time during the year

Advance to Subsidiary- Redstart Labs (India) Ltd

Balance at the year end
Maximum amount outstanding at any time during the year

Advance to Joint venture- Zomato Limited (formerly known as Zomato Private Limited and Zomato Media
Private Limited)
Balance at the year end
Maximum amount outstanding at any time during the year

Advance to Joint venture- Makesense Technologies Ltd.

Balance at the year end
Maximum amount outstanding at any time during the year
32. During the year ended March 31, 2021, the Company has issued 200,000 nos. equity shares (March 31, 2020; 400,000 nos. equity
`10/- respectively) each fully paid up at `10/- per share respectively to Info Edge Employees Stock Option Plan (ESOP) Trust, which h
respective Stock Exchanges, ranking pari passu with the existing equity shares of the Company. The ESOP trust has in turn issued 188,
258,558 nos. equity shares fully paid up to the employees during the year ended March 31, 2021 & March 31, 2020 respectively.
33. During the year ended March 31, 2015 , the Company had issued 10,135,135 nos. equity shares of `10/- each fully paid up at `74
securities premium of `730/- per share) to qualified institutional buyers on September 12, 2014 pursuant to Qualified Institutional Pla
dated September 10th, 2014, as per provisions of section 42 of Companies Act, 2013 read with rule 14 of the Companies (Prospectus a
Rules 2014, and Chapter VIII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations
in the respective Stock Exchanges on September 16, 2014.
 India (Listing Obligations And Disclosures Requirements)

March 31, 2021 March 31,

(`Mn) 2020
(`Mn)

- -
0.07 0.10

- -
0.06 0.03

- -
0.03 405.94

- -
0.03 0.03

- -
1.76 2.12

- -
0.03 0.03

- -
0.03 0.03

- -
0.03 0.02

- -
0.02 -

0.13 0.08
0.13 0.08

- -
0.02 0.03
es (March 31, 2020; 400,000 nos. equity shares each fully paid up
Stock Option Plan (ESOP) Trust, which have been duly listed in the
y. The ESOP trust has in turn issued 188,918 nos. equity shares and
021 & March 31, 2020 respectively.
shares of `10/- each fully paid up at `740/- per share (including
14 pursuant to Qualified Institutional Placement (QIP) document,
h rule 14 of the Companies (Prospectus and Allotment of Securities)
nd Disclosure Requirements) Regulations, 2009 which have been listed
 Expenses incurred in relation to QIP amounting to `155.65 Mn had been adjusted from Securities Premium Account during the yea
utilisation out of such net amount of `7,344.35 Mn till March 31, 2021 is given below. The balance amount of QIP proceeds remain
with banks..
Utilisation of funds

Balance Unutilised funds as at the beginning of the year

Utilised during the year-working capital and general corporate purposes (99acres)
Balance Unutilised funds as at the year end
34. During the year ended March 31, 2021 , the Company had issued 6,067,961 nos. equity shares of `10/- each fully paid up at ` 3,0
securities premium of ` 3,080/- per share) to qualified institutional buyers on August 08, 2020 pursuant to Qualified Institutional Plac
August 07, 2020, as per provisions of section 42 of Companies Act, 2013 read with rule 14 of the Companies (Prospectus and Allotmen
and Chapter VIII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 which
respective Stock Exchanges on August 10, 2020.
Expenses incurred in relation to QIP paid/provided for amounting to ` 459.68 Mn has been adjusted from Securities Premium Account
net amount of ` 18,290.32 Mn till March 31, 2021 is given below. The balance amount of QIP proceeds remains invested in Term Depo

Utilisation of funds

Balance Unutilised funds

Utilised during the period
Balance Unutilised funds as at the year end
35. Exceptional items include :
Particulars

Provision for diminution in carrying value of investment :

-Startup Investment (Holding) Limited
-Applect Learning system Private Limited
-Smartweb Internet Services Limited
-Allcheckdeals India Private Limited
-Newinc Internet Services Private Limited
-Interactive Visual Solutions Private Limited
Reversal of diminution in carrying value of investment :
-Naukri Internet Services Limited
Total
36. There are numerous interpretative issues relating to the Supreme Court (SC) judgement on PF dated 28th February, 2019. As a m
Company has made a provision on a prospective basis from the date of the SC order. The company will update its provision, on receiv
37. During the previous year ended March 31, 2020; Naukri Internet Services Limited (“NISL”), wholly owned Subsidiary company, p
National Company Law Tribunal (NCLT) under section 66 of Companies Act, 2013 for extinguishing, cancelling and reduction of its 0.0
preference shares (“CRPS”) amounting to ` 340 crores invested by the company, has obtained the said approval; basis which NISL has
remitted ` 340 crore to the Company.
38. During the previous year ended March 31, 2020 the Company had acquired 100% share capital of Highorbit Careers Pvt. Ltd. for a
` 808.25 Mn represented by `656.41 Mn & ` 151.84 Mn for Equity shares & compulsory convertible preference shares respectively.
39. During the previous year ended March 31, 2020 the Company had sold its entire investment in Applect Learning systems private L
Services Limited for an aggregate consideration of ` 145.39 Mn represented by ` 94.07 Mn & ` 51.32 Mn for Equity shares & compulso
respectively.
40. During the previous year ended March 31, 2020, the Company has set up an Alternative Investment Fund (“AIF”) named Info Edge
trust Registered with Stock Exchange Board Of India (“SEBI”) as Category II AIF, under the SEBI Alternative Investment Funds Regulati
entered into a contribution agreement with Investment Manager namely Smartweb Internet Services Limited, its wholly owned subsid
trustees namely M/s Beacon Trusteeship Ltd, a Third Party Independent SEBI registered Debenture Trustee and had invested ` 100 cro
curities Premium Account during the year ended March 31, [Link]
balance amount of QIP proceeds remains invested in Term Deposits

March 31, March 31, 2020

2021 (`Mn)
(`Mn)
3,514.50 4,568.46
714.38 1,053.96
2,800.12 3,514.50
hares of `10/- each fully paid up at ` 3,090/- per share (including
0 pursuant to Qualified Institutional Placement (QIP) document, dated
he Companies (Prospectus and Allotment of Securities) Rules 2014,
Requirements) Regulations, 2009 which have been listed in the

justed from Securities Premium Account and the utilisation out of such
proceeds remains invested in Term Deposits with banks.

March 31, 2021

(`Mn)
18,290.32
167.24
18,123.08

March 31, March 31, 2020

2021 (`Mn)
(`Mn)
32.24 1,006.65
- 92.79
- 36.21
- 144.49
- 37.38
- 1.21

- (85.78)
32.24 1,232.95
on PF dated 28th February, 2019. As a matter of caution, the
pany will update its provision, on receiving further clarity on subject.
”), wholly owned Subsidiary company, pursuant to its application to
hing, cancelling and reduction of its 0.0001% compulsory redeemable
d the said approval; basis which NISL has reduced its capital and

pital of Highorbit Careers Pvt. Ltd. for an aggregate consideration of

tible preference shares respectively.
nt in Applect Learning systems private Limited to Aakash Educational
` 51.32 Mn for Equity shares & compulsory convertible debentures

nvestment Fund (“AIF”) named Info Edge Venture Fund (“IEVF”), a

BI Alternative Investment Funds Regulations 2012. Company had
ervices Limited, its wholly owned subsidiary company and with IEVF
nture Trustee and had invested ` 100 crores in IEVF.
 41. The Social Security 2020 (Code), which received the President Assent on September 28, 2020 subsumes nine laws relating to soci
employee benefits, including the Employees Provident Fund and Miscellaneous Provisions Act, 1952 and Payment of Gratuity Act, 197
Code is yet to be notified. The Company will assess and record the impact of the Code, if any, when it comes into effect.
42. Post Balance sheet date, Zomato Limited (formerly known as Zomato Private Limited and Zomato Media Private Limited), the jo
draft red herring prospectus with market regulator for initial public offer (“IPO”) of its equity shares. The Board of Directors of the C
on April 27, 2021, has, subject to statutory approvals, approved to participate in offer for sale (“OFS”) as ‘selling shareholder’ to sell
would aggregate upto ` 7,500 Mn.
43. The Board of Directors in their meeting held on November 10, 2020 had approved the Scheme of Amalgamation between Info Edg
Company), and Highorbit Careers Private Limited (Transferor Company), the wholly owned subsidiary of the Transferee Company. Su
obtained approval for the scheme from its shareholders and secured and unsecured creditors in their respective meetings held on Apr
by Hon’ble National Company Law Tribunal, New Delhi bench (“NCLT”). The next hearing has been scheduled on July 8, 2021. The re
and disclosure shall be made in due course in accordance with applicable IND AS.
44. Based on the information available with the Company, the Company has no dues to suppliers registered under the “The Micro, Sm
Development Act, 2006”(‘MSMED Act’). The disclosures pursuant to the said MSMED Act are as follows:

Particular

Principal amount due to suppliers registered under the MSMED Act and remaining unpaid as at year end
Interest due to suppliers registered under the MSMED Act and remaining unpaid as at year end
Principal amounts paid to suppliers registered under the MSMED Act, beyond the appointed day during the year
Interest paid, other than under Section 16 of MSMED Act to suppliers registered under the MSMED Act, beyond
the
appointed dayunder
duringSection
the day16 of MSMED Act to suppliers registered under the MSMED Act, beyond the
Interest paid,
appointed day
during
Interestthe day
due and payable towards suppliers registered under MSMED Act, for payments already made
Further interest remaining due and payable for earlier years
45. As per Section 135 of the Companies Act, 2013 (‘Act’), a Corporate Social Responsibility (CSR) committee had already been forme
years. The main areas for CSR activities, as per the CSR policy of the Company are promoting education, training to promote sports a
funds set up by the Central Government, further the CSR Committee may consider other CSR activities subject to the condition that s
subjects enumerated in Schedule VII of the Act.
Details of corporate social responsibility (CSR) are as below :

Particulars

Gross amount required to be spent by the Company during the year

Amount remained unspent during previous year
Total amount required to be spent by the Company
Amount spent (paid) by the Company during the year primarily in the field of education (operating expenditure
in
relations to various associations as detailed below) and on administrative expense.
S. No. Vendor Name

1 Amar Jyoti Charitable Trust

2 Behavior Momentum India Foundation
3 Bharatiya Yuva Shakti Trust
4 Centrals Square Foundation
5 Chintan Environmental Research And Action Group
6 Dakshana India Educational Trust Fund
7 Foundation of Arts for Social Change in India
8 Ghanshyamdas Jain Charitable Trust
9 Indian Institute of Technology, Kanpur
10 International Foundation for Research & Education
2020 subsumes nine laws relating to social security retirement and
, 1952 and Payment of Gratuity Act, 1972. The effective date of the
, when it comes into effect.
d Zomato Media Private Limited), the joint venture company, has filed
y shares. The Board of Directors of the Company during their meeting
e (“OFS”) as ‘selling shareholder’ to sell such number of shares as

heme of Amalgamation between Info Edge (India) Limited (Transferee

ubsidiary of the Transferee Company. Subsequently, the company
in their respective meetings held on April 12, 2021 as per directions
been scheduled on July 8, 2021. The requisite accounting treatment

iers registered under the “The Micro, Small and Medium Enterprises
s follows:
Amount (`Mn)
Year ended Year ended
March 31, March 31, 2020
2021 - -
- -
- -
- -

- -

- -
- -
CSR) committee had already been formed by the Company in earlier
education, training to promote sports and contribution to appropriate
activities subject to the condition that such activities relate to the

Year ended Year ended

March 31, March 31, 2020
2021 (`Mn) (`Mn)
80.32 71.13
6.64 37.00
86.96 108.13
86.96 101.49

Year ended Year ended

March 31, March 31, 2020
2021 (`Mn) (`Mn)
2.30 -
2.00 2.30
4.50 4.20
0.47 -
3.61 8.56
- 3.30
0.50 -
1.50 1.70
5.00 -
11.50 10.00
S. No. Vendor Name

11 Indian Institute of Technology, Delhi IRD Unit

12 Jagriti Sewa Sansthan
13 Jayaprakash Narayan Memorial Trust
14 Joint Women’s Programme
15 Khwaab Welfare Trust
16 Language And Learning Foundation
17 Life And Beauty Medicare [Link]
18 Literacy India
19 Milaan Be The Change
20 Mitra Technology Foundation
21 Pragatee Foundation
22 Reimagining Higher Education Foundation
23 Saajha
24 Samarpan Foundation
25 Sarthak Educational Trust
26 Shally Education Foundation (Saarthi Education)
27 Simple Education Foundation
28 Social Outreach Foundation
29 Sportvolt Professional Services Limited
30 Swami Sivananda Memorial Institute
31 Teach to Lead
32 Trust For Retailers & Retails Associates of India
Total (A)

33 Amount spent towards administrative overhead (B)

Total (A)+(B)
46. Income Tax Expenses
This note provides an analysis of the Company’s income tax expense, show amounts that are recognised directly in equity and how th
non-assessable and non-deductible items. It also explains significant estimates in relation to the Company’s tax position.
a) Income Tax expense
Particulars

Current Tax
Current tax on profit for the year

Total current tax expenses

Deferred Tax

Total
 Year ended Year ended
March 31, March 31, 2020
2021 (`Mn) (`Mn)
- 5.00
- 2.00
0.52 -
1.39 2.30
1.50 1.50
4.95 1.80
2.46 -
1.20 1.10
1.05 -
- 2.00
0.50 -
22.00 20.00
2.40 11.05
- 2.80
2.30 2.30
2.20 -
1.50 1.00
1.50 1.50
0.42 -
2.70 5.25
3.00 -
- 8.26
82.97 97.92

3.99 3.57

86.96 101.49

recognised directly in equity and how the tax expense is affected by

the Company’s tax position.

Year ended Year ended

March 31, March 31, 2020
2021 (`Mn)
(`Mn)

755.59 1,052.31
755.59 1,052.31

(27.88) 80.91

727.71 1,133.22
 b) Reconciliation of tax expense and the accounting profit multiplied by tax rate:
Particulars

Profit before exceptional items and tax

Tax at the Indian tax rate of 25.168% (March 31, 2020 : 25.168%)

Tax effect of amounts which are not deductible (taxable) in calculating taxable income:

Depreciation on Land
Corporate social responsibility expenditure
Dividend Income on Mutual Funds
Impact of IndAS 116
Fair value of financial instruments
Profit on sale of investment (separately considered in capital gains)
Additional ESOP charges
Profit on sale of Property, Plant & equipment
Tax impact of reduction in tax rates
Other items
A)

Capital Gain on profit on sale of Investment

B)

47. Fair value measurements

a) Financial instruments by category

March 31, 2021 March 31, 2020

Fair value Fair value Amortised cost Fair value
through profit or through OCI through profit or
Financial Assets loss loss
Investments*
- Mutual Funds - - - 2,554.03
- Units - 1,049.69 - -

Trade and other receivables - - 53.87 -

Cash and cash Equivalents - - 6,331.68 -
Other bank balances - - 19.77 -
Other financial assets - - 28,584.11 -
Total Financial Assets - 1,049.69 34,989.43 2,554.03

Financial Liabilities
Borrowings - - 2.44 -
Trade payables - - 600.69 -
Lease Liability - - 640.92 -
Total Financial Liabilities - - 1,244.05 -
*Excluding investments in subsidiaries, joint ventures and associates measured at cost in accordance with Ind AS-27
Fair value hierarchy
The following section explains the judgements and estimates made in determining the fair values of the financial instruments tha
measured at fair value through profit or loss. To provide an indication about the reliability of the inputs used in determining fair
classified its financial investments into the three levels prescribed under the accounting standard. An explanation of each level fo
 Year ended Year ended
March 31, 2021 March 31,
(`Mn) 2020
(`Mn)
3,469.33 4,422.82

873.16 1,113.14

0.49 0.49
20.22 27.24
- (15.80)
14.25 16.69
(0.17) (11.92)
(6.49) (20.34)
(180.17) (140.45)
(0.16) (0.16)
- 116.25
6.58 27.72
(145.45) (0.28)

- 20.36

- 20.36
727.71 1,133.22

Amount (`Mn)
March 31, 2020
Fair value Amortised cost
through OCI

- -
1,000.00 -

- 70.05
- 4,254.34
- 20.58
- 6,449.80
1,000.00 10,794.77

- 6.23
- 592.05
- 750.94
- 1,349.22
n accordance with Ind AS-27

ir values of the financial instruments that are recognised and

ty of the inputs used in determining fair value, the Company has
standard. An explanation of each level follows underneath the table.
 b) Fair value hierarchy for assets
Financial assets measured at fair value at March 31, 2021 Amou

Level 1 Level 2
Financial Assets
Investments
- Mutual Funds-Daily Dividend & Debt Liquid Fund - -
Financial assets measured at fair value at March 31, 2020 Amo
Level 1 Level 2
Financial Assets
Investments
- Mutual Funds-Daily Dividend & Debt Liquid Fund 2,554.03 -
Notes:
Level 1 hierarchy includes financial instruments measured using quoted prices (unadjusted) in active market for identical assets t
the measurement date. This represents mutual funds that have price quoted by the respective mutual fund houses and are valued
value (NAV).
Level 2 hierarchy includes the fair value of financial instruments measured using quoted prices for identical or similar assets in m
Level 3 If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3. This
compound instruments.
There are no transfers between any of these levels during the year. The Company’s policy is to recognise transfers into and transf
levels as at the end of the reporting period.

c) Valuation techniques used to determine fair value

Specific valuation techniques used to value financial instruments include:
- the use of quoted market prices or mutual fund houses quotes (NAV) for such instruments. This is included in Level 1.
- the fair value of the remaining financial instruments is determined using discounted cash flow analysis for which third party valu
included in Level 3.

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 trad
be the same as their fair values, due to their short-term nature. The fair values for security deposits , Investment in preference s
debentures and borrowings are calculated based on cash flows discounted using a current lending rate, however the change in cu
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) Fair value measurements using significant unobservable inputs (level 3)

There is Nil balance in Level 3 items for the period ended March 31, 2021 and previous year ended March 31, 2020
(f) Valuation processes
The Company uses third party valuers to perform the valuations of the unquoted equity shares, preference shares and debentures
reporting purposes for Level 3 purposes other than investment in compulsorily redeemable preference shares and debentures (De
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 assess
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
Significant estimates
The fair value of financial instruments that are not traded in an active market is determined using valuation techniques. The grou
a variety of methods and make assumptions that are mainly based on market conditions existing at the end of each reporting peri
assumptions used and the impact of changes to these assumptions see (c) and (f) above.

48. 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 fr
established the Risk Management Committee, which is responsible for developing and monitoring the Company’s risk management po
regular meetings and report to board on its activities.
 Amount (`Mn)

Level 3 Total

- -
Amount (`Mn)
Level 3 Total

-
- 2,554.03

ve market for identical assets that the entity can access at

ual fund houses and are valued using the closing Net asset

identical or similar assets in markets that are not active.

ment is included in level 3. This is the case for unlisted

ognise transfers into and transfers out of fair value hierarchy

included in Level 1.
alysis for which third party valuer is appointed. This is

other financial assets and trade payables are considered to

ts , Investment in preference shares & investment in
ate, however the change in current rate does not have any

to the fair values.

March 31, 2020

ference shares and debentures required for financial

nce shares and debentures (Debt instruments) which are

reflects current market assessments of the time value of

or similar types of companies to the extent available.

valuation techniques. The group uses its judgement to select

the end of each reporting period. For details of the key

Company’s risk management framework. The board has

ompany’s risk management policies. The Committee holds
 The Company’s risk management policies are established to identify and analyse the risks faced by the Company, to set appropria
to monitor risks and adherence to limits. Risk management policies and systems are reviewed regularly to reflect changes in mark
Company’s activities. The Company, through its training and management standards and procedures, aims to maintain a discipline
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 procedu
of the risk management framework in relation to the risks faced by the Company. The audit committee is assisted in its oversight
Internal audit undertakes both regular and ad hoc reviews of risk management controls and procedures, the results of which are r
committee.
This note explains the sources of risk which the entity is exposed to and how the entity manages the risk.

Risk Exposure arising from Measurement

Credit risk Cash and cash equivalents, trade Aging analysis
receivables, Credit ratings
Liquidity risk financial
Borrowingsassets measured
and other at amortised cost.
liabilities Rolling cash flow forecasts

Market risk – Recognised financial assets and liabilities Cash flow forecasting
foreign exchange not Sensitivity analysis
denominated in Indian rupee (INR)
Price Risk Investments in mutual funds Credit ratings
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 con
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, managem
factors that may influence the credit risk of its customer base, including the default risk of the industry and country in which cus
a financial asset is when the counterparty fails to make contractual payments within 90 days of when they fall due. This definitio
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 intelligen
customer receivables are regularly monitored.
The Company has established an allowance for impairment that represents its expected credit losses in respect of trade and othe
management uses a simplified approach for the purpose of computation of expected credit loss for trade receivables and 12-mont
other receivables. An impairment analysis is performed at each reporting date on an individual basis for major parties. In addition
receivables are combined into homogenous categories and assessed for impairment collectively. The calculation is based on histo
Company evaluates the concentration of risk with respect to trade receivables as low.
Reconciliation of loss allowance provision:

Loss allowance as on March 31, 2020

changes in loss allowance
Loss allowance as on March 31, 2021
Cash and cash equivalents
Credit risk on cash and cash equivalents and other deposits with banks is limited as the Company generally invest in deposits with
assigned by external credit rating agencies, accordingly the Company considers that the related credit risk is low. Impairment on
the 12-month expected credit loss basis.

b) Liquidity risk
Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial liabiliti
delivering cash or another financial asset. The Company’s approach to managing liquidity is to ensure, as far as possible, that it w
meet its liabilities when they are due, under both normal and stressed conditions, without incurring unacceptable losses or riskin
reputation.
The Company’s treasury maintains flexibility in funding by maintaining liquidity through investments in liquid funds and other com
Management monitors rolling forecasts of the group’s liquidity position (comprising the undrawn borrowing facilities below) and c
the basis of expected cash flows.
d analyse the risks faced by the Company, to set appropriate risk limits and controls and
systems are reviewed regularly to reflect changes in market conditions and the
nt standards and procedures, aims to maintain a disciplined and constructive control
ons.
with the Company’s risk management policies and procedures, and reviews the adequacy
Company. The audit committee is assisted in its oversight role by internal audit.
ement controls and procedures, the results of which are reported to the audit

how the entity manages the risk.

Management of risk
Diversification of bank deposits, credit limits and
regular monitoring.
Availability of surplus cash, committed credit lines
and borrowing facilities
Regular monitoring to keep the net exposure at
an acceptable level, with option of taking Forward
foreign exchange contracts if deemed necessary.
Portfolio diversification and regular monitoring

ounterparty to a financial instrument fails to meet its contractual obligations, and

dual characteristics of each customer. However, management also considers the

g the default risk of the industry and country in which customers operate. A default on
ments within 90 days of when they fall due. This definition of default is determined by
ther macro-economic factors.
nd historical dealings with the Company, market intelligence & goodwill. Outstanding

nts its expected credit losses in respect of trade and other receivables. The
of expected credit loss for trade receivables and 12-month expected credit loss for
g date on an individual basis for major parties. In addition, a large number of minor
mpairment collectively. The calculation is based on historical data of actual losses. The
vables as low.

Trade
receivables
(`Mn)
54.13
(10.02)
44.11

s limited as the Company generally invest in deposits with banks with high credit ratings
onsiders that the related credit risk is low. Impairment on these items are measured on

eeting the obligations associated with its financial liabilities that are settled by
managing liquidity is to ensure, as far as possible, that it will have sufficient liquidity to
conditions, without incurring unacceptable losses or risking damage to the Company’s

iquidity through investments in liquid funds and other committed credit lines.
(comprising the undrawn borrowing facilities below) and cash and cash equivalents on
 (i) Financing arrangements
The Company had access to the following undrawn borrowing facilities at the end of the reporting year :

Particulars March 31, 2021 March 31

Cash credit facilities - 2020
100.0
The bank overdraft facilities may be drawn at any time.
(ii) Maturities of financial liabilities
The amount disclosed in the below table represent the contractual undiscounted cash flows. Balances equal their carrying balanc
discounting is not significant.

Contractual cash flows

March 31, 2021 Total 6 months or less 6-12 months 1-5 years > 5 year
Non-derivative financial liabilities
Trade payables 600.69 600.69 - -
Lease liability 640.92 100.43 103.61 392.32 44.5
Borrowings 2.44 1.26 0.46 0.72

Contractual cash flows

March 31, 2020 Total 6 months or less 6-12 months 1-5 years > 5 year

Non-derivative financial liabilities

Trade payables 592.05 592.05 - -

Lease liability 750.94 97.49 96.92 493.33 63.2
Borrowings 6.23 2.14 1.67 2.42
(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 Co
of its holdings of financial instruments. Market risk is attributable to all market risk sensitive financial instruments including forei
payables and long term debt. The Company is exposed to market risk primarily related to foreign exchange rate risk, interest rate
the investments. Thus, the exposure to market risk is a function of investing and borrowing activities and revenue generating and
foreign currency.

(i) Currency risk

The Company is exposed to currency risk on account of foreign currency transactions including recognized assets and liabilities de
is not the Company’s functional currency (`), primarily in respect of US$, United Arab Emirates Dirham (AED), Saudi Riyal (SAR) a
Company ensures that the net exposure is kept to an acceptable level and is remain a net foreign exchange earner.
Exposure to currency risk
The currency profile of financial assets and financial liabilities are given below:

As at March 31, 2021 As at March 31, 2020

Financial assets Amount (`Mn) (`Mn) Amount (`Mn)
AED 0.06 1.17 AED 0.50
USD 0.09 6.65 USD 0.05
Trade receivables
OMR 0.01 0.99 -
QAR 0.02 0.44 -
SAR 0.19 56.37 SAR 2.50
USD 0.06 12.38 USD 0.15
BHD 2.89 10.69 BHD 0.04
AED 3.35 66.72 AED 2.48
HKD *0.00 0.01 HKD *0.00
Cash & bank balances AUD *0.00 0.06 AUD *0.00
CAD *0.00 0.01 CAD *0.00
QAR 0.01 10.84 QAR 0.47
SGD *0.00 0.15 SGD *0.00
EUR *0.00 0.10 EUR *0.00
GBP *0.00 0.17 GBP *0.00
r:
Amount (`Mn)
March 31,
2020
100.00

equal their carrying balances as the impact of

Amount (`Mn)

> 5 years

-
44.56
-
Amount (`Mn)

> 5 years

-
63.20
-

est rates – will affect the Company’s income or the value

instruments including foreign currency receivables and
hange rate risk, interest rate risk and the market value of
and revenue generating and operating activities in

ized assets and liabilities denominated in a currency that

m (AED), Saudi Riyal (SAR) and Bahraini Dinar (BHD). the
hange earner.

As at March 31, 2020

(`Mn)
10.27
3.78
-
-
49.48
11.42
7.92
50.36
0.01
0.05
0.01
9.64
0.14
0.09
0.16
 As at March 31, 2021 As at March 31, 2020
Amount (`Mn) (`Mn) Amount (`Mn)
USD 0.06 4.09 USD 0.05
SAR *0.00 0.08 SAR *0.00
QAR *0.00 0.06 QAR *0.00
Other receivables
BHD *0.00 0.02 BHD *0.00
KWD *0.00 0.02 -
AED 0.19 3.76 AED 0.11
Total-Financial assets 174.78

Financial liabilities AED *0.00 0.03 AED 0.01

Trade payables BHD *0.00 0.04 BHD *0.00
SAR *0.00 0.02 SAR *0.00
Total financial liabilities 0.09
* Amount is below rounding off norm adopted by the Company.
Sensitivity analysis
Any change with respect to strengthening (weakening) of the Indian Rupee against various currencies as at March 31, 2021 &
affected the measurement of financial instruments denominated in respective currencies and affected equity and profit or l
below. This analysis assumes that all other variables, in particular interest rates.

Profit or loss Profit or loss

March 31, 2021 March 31, 2020
Effect in INR Strengthening Weakening Strengthening
AED (Increase/decrease by 0.5%, March 31, 2020- 0.5%) (0.36) 0.36 (0.31)
BHD (Increase/decrease by 0.5%, March 31, 2020- 0.5%) (0.05) 0.05 (0.04)
OMR (Increase/decrease by 0.5%, March 31, 2020- 0.5%) -*(0.00) *0.00 *(0.00)
QAR (Increase/decrease by 0.5%, March 31, 2020- 0.5%) (0.06) 0.06 (0.05)
SAR (Increase/decrease by 0.5%, March 31, 2020- 0.5%) (0.28) 0.28 (0.25)
EURO (Increase/decrease by 0.5%, March 31, 2020- 0.5%) -*(0.00) *0.00 -*(0.00)
USD (Increase/decrease by 0.5%, March 31, 2020- 0.5%) (0.12) 0.12 (0.09)
GBP (Increase/decrease by 0.5%, March 31, 2020- 0.5%) -*(0.00) *0.00 -*(0.00)
Total (0.87) 0.87 (0.74) 0.74
* Amount is below rounding off norm adopted by the Company.
(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 o
fixed interest bearing investments because of fluctuations in the interest rates. Cash flow interest rate risk is the risk that the fut
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 subj
defined in Ind AS 107, since neither the carrying amount nor the future cash flows will fluctuate because of a change in market in
The exposure of the Company’s financials assets/liabilities at the end of the reporting period are as follows:

Particulars March 31, 2021 March 31, 202

Fixed-rate instruments
Financial assets 33,824.06 10,059.4
Financial liabilities 2.44 6.2
Total 33,826.50 10,065.6
(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 val
manage its price risk arising from such investments, the Company diversifies its portfolio. Further these are all debt base securities for wh
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.
 As at March 31, 2020
(`Mn)
3.44
0.01
0.02
0.01
-
2.18
148.99

0.19
0.08
0.09
0.36

ncies as at March 31, 2021 & March 31, 2020 would have
ected equity and profit or loss by the amounts shown

Profit or loss
March 31, 2020
Weakening
0.31
0.04
*0.00
0.05
0.25
*0.00
0.09
*0.00
0.74

terest rate risk is the risk of changes in fair values of

e risk is the risk that the future cash flows of floating

They are therefore not subject to interest rate risk as

use of a change in market interest rates.
llows:

Amount (`Mn)
March 31, 2020

10,059.42
6.23
10,065.65

he balance sheet at fair value through profit or loss. To

debt base securities for which the exposure is primarily

lue 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 conti
shareholders and benefits for other stakeholders. The capital of the Company consist of equity capital and accumulated profits. T
borrowings only for buying vehicles.
b) Dividend Amount (`Mn)

Particulars March 31, 2021 March 31,

(i) Interim dividends : 2020
1st interim dividend : ` Nil per share (March 31, 2020 `2.5 per share) 2nd interim dividend : ` Nil per - 305.79
share (March 31, 2020 `3.5 per share) - 428.81

(ii) Dividends not recognised at the end of the year

In addition to the above dividends, since year end the directors have declared an Interim dividend of ` 1,030.27 -
8.00 per fully paid equity share (March 31, 2020 - ` Nil).
49. Customer contract balances
During previous year, the Company has adopted Ind AS 115 on Revenue from Contracts with Customers, using the modified retrospect
was applied retrospectively only to contracts that were not completed as at the date of initial application and comparative informati
statement of profit and loss. The adoption of the standard did not have any material impact on the recognition and measurement of
the financial statements/results. Revenue from sale of services is recognised over the period of time.

Particulars March 31,

2021
(`Mn)
Trade Receivable 53.87
Contract Liabilities 5,224.75
Trade receivables are non-interest bearing and are generally on terms of 30 to 90 days and are conditioned to be recovered purel
contract assets have been considered to be Nil.
Contract Liabilities includes Deferred Sales revenue and advance received from Customer.
Other disclosure as specified under IndAS 115 are not required to be made as a matter of practical expedient , since the performa
contract that has an original expected duration of one year or less.
Contract liabilities are primarily the deferred sales revenue against which amount has been received from customer but services
reporting date either in full or in parts. Contract liabilities are recognized evenly over the subscription period, being performance
Set out below is the amount of revenue recognised from:

Particulars For the year

ended March 31,
2021
Amount included in contract liabilities at the beginning of the year (`Mn)
4,667.70
The company has as a matter of practical expedient recognised the incremental costs of obtaining a contract as an expense when
amortisation period of the asset that the entity otherwise would have recognised is generally one year or less.
200 INFO EDGE (INDIA) LIMITED ANNUAL REPORT 2020-21
ern, so that they can continue to provide returns for
and accumulated profits. The Company avails

Amount (`Mn)

March 31,
2020
305.79
428.81

ng the modified retrospective approach. The standard

and comparative information was not restated in the
ition and measurement of revenue and related items in

March 31, March 31,

2021 2020
(`Mn) (`Mn)
53.87 70.05
5,224.75 4,677.45
oned to be recovered purely on passage of time. Hence

edient , since the performance obligation is part of

om customer but services are yet to be rendered on the

period, being performance obligation of the Company.

For the year

ended March 31,
2020
(`Mn)
4,734.96
ntract as an expense when incurred, since the
or less.
 50. The company has considered the possible effects that may result from COVID 19 on its business and the carrying amount of non-c
outbreak of Coronavirus (COVID-19) pandemic globally is causing a slowdown of economic activity. In many countries, businesses are
their operations for long or indefinite period. Measures taken to contain the spread of the virus, including travel bans, quarantines, s
of non-essential services have triggered disruptions to businesses worldwide, resulting in an economic slowdown and uncertainties pe
In developing the assumptions relating to the possible future uncertainties in the global conditions because of the pandemic, the Com
of these financial statements has used various information, as available. The Company has performed sensitivity analysis on the assum
current estimates, expects the carrying amount of these non-current investments do not require any further diminution from the valu
The Company will continue to closely monitor any material change arising of future economic conditions and its impact on its busines
19 on investments may differ from that estimated as at the date of approval of these financial statements.

For S.R. Batliboi & Associates LLP For and on behalf of the Board of Directors ICAI
101049W/E300004
per Yogesh Midha Hitesh Oberoi
Partner Managing Director
Membership Number 094941 M.M. Jain

Company Secretary
Place : New Delhi Date : June 21, 2021 Place : Noida
Date : June 21, 2021
ess and the carrying amount of non-current investments. The
. In many countries, businesses are being forced to cease or limit
ncluding travel bans, quarantines, social distancing, and closures
omic slowdown and uncertainties pertaining to future operations.
s because of the pandemic, the Company, as on date of approval
med sensitivity analysis on the assumptions used and based on
any further diminution from the value at which these are stated.
ditions and its impact on its business. The actual impact of COVID
atements.

ehalf of the Board of Directors ICAI Firm Registration Number:

Chintan Thakkar
Director & CFO
5
203 AUDITORS’ REPORT (CONSOLIDATED)
207 BALANCE SHEET (CONSOLIDATED)
208 STATEMENT OF PROFIT & LOSS (CONSOLIDATED)
209 CASH FLOW STATEMENT (CONSOLIDATED)
211 NOTES TO FINANCIAL STATEMENT (CONSOLIDATED)
 INDEPENDENT AUDITOR’S REPORT
To the Members of Info Edge (India) Limited
Report on the Audit of the Consolidated Ind AS Financial Statements
Opinion
We have audited the accompanying consolidated Ind AS financial statements of Info Edge (India) Limited (hereinafter referred to as “
subsidiaries, its controlled trust (the Holding Company, its subsidiaries and its controlled trust together referred to as “the Group”) i
comprising of the consolidated Balance sheet as at March 31 2021, the consolidated Statement of Profit and Loss, including other com
consolidated Cash Flow Statement and the consolidated Statement of Changes in Equity for the year then ended, and notes to the co
statements, including a summary of significant accounting policies and other explanatory information (hereinafter referred to as “the
statements”).
In our opinion and to the best of our information and according to the explanations given to us and based on the consideration of rep
separate financial statements and on the other financial information of the subsidiaries, controlled trust, associate and joint venture
Ind AS financial statements give the information required by the Companies Act, 2013, as amended (“the Act”) in the manner so requ
view in conformity with the accounting principles generally accepted in India, of the consolidated state of affairs of the Group, its as
at March 31, 2021, their consolidated profit including other comprehensive income, their consolidated cash flows and the consolidate
equity for the year ended on that date.

Basis for Opinion

We conducted our audit of the consolidated Ind AS financial statements in accordance with the Standards on Auditing (SAs), as specif
the Act. Our responsibilities under those Standards are further described in the ‘Auditor’s Responsibilities for the Audit of the Consol
Statements’ section of our report. We are independent of the Group, associate, joint ventures in accordance with the ‘Code of Ethics
Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial statements und
and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Cod
the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the consolidated Ind AS
Key Audit Matters
Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the consolidated Ind
the financial year ended March 31, 2021. These matters were addressed in the context of our audit of the consolidated Ind AS financi
in forming our opinion thereon, and we do not provide a separate opinion on these matters. For each matter below, our description o
matter is provided in that context.
We have determined the matter described below to be the key audit matter to be communicated in our report. We have fulfilled the
the Auditor’s responsibilities for the audit of the consolidated Ind AS financial statements section of our report, including in relation
our audit included the performance of procedures designed to respond to our assessment of the risks of material misstatement of the
statements. The results of audit procedures performed by us and by other auditors of components not audited by us, as reported by t
furnished to us by the management, including those procedures performed to address the matter below, provide the basis for our aud
accompanying consolidated Ind AS financial statements.

Key audit matters

Impairment of investments in joint ventures and associate (as described in note 28 and 36 of the consolidated Ind AS financial statem
The Group exercises significant influence over certain entities assessed to
be joint ventures and associate. The carrying amount of the investments
amounting to ` 21,160.67 Mn in 17 joint ventures and 1 associate
accounted for using the equity method, is tested for impairment by the
Company, by comparing its recoverable amount (higher of value-in-use or
fair value less costs to sell) with its carrying amount, whenever there are
indicators that the investment may be impaired.
The basis of impairment of investment in Joint ventures and Associate is
presented in the accounting policies in Note 2.2 (E) to the consolidated
Ind AS financial statements.
For the purpose of the above impairment testing, value in use has been
determined by forecasting and discounting future cash flows.
Furthermore, the value in use is highly sensitive to changes in some of the
inputs used for forecasting the future cash flows.
Further, the determination of the recoverable amount of the investments
in 17 joint ventures and 1 associate. involved judgment due to inherent
uncertainty in the assumptions supporting the recoverable amount of
these investments.
Accordingly, the impairment of investments in 17 joint ventures and 1
associate was determined to be a key audit matter in our audit of the
consolidated Ind AS financial statements.
Information Other than the Financial Statements and Auditor’s Report Thereon
The Holding Company’s Board of Directors is responsible for the other information. The other information comprises the information
but does not include the consolidated Ind AS financial statements and our auditor’s report thereon.
Our opinion on the consolidated Ind AS financial statements does not cover the other information and we do not express any form of
In connection with our audit of the consolidated Ind AS financial statements, our responsibility is to read the other information and,
such other information is materially inconsistent with the consolidated Ind AS financial statements or our knowledge obtained in the
be materially misstated. If, based on the work we have performed, we conclude that there is a material misstatement of this other in
report that fact. We have nothing to report in this regard.

Responsibilities of Management for the Consolidated Ind AS Financial Statements

The Holding Company’s Board of Directors is responsible for the preparation and presentation of these consolidated Ind AS financial s
requirements of the Act that give a true and fair view of the consolidated financial position, consolidated financial performance inclu
income, consolidated cash flows and consolidated statement of changes in equity of the Group including its associate and joint ventu
accounting principles generally accepted in India, including the Indian Accounting Standards (Ind AS) specified under section 133 of t
Companies (Indian Accounting Standards) Rules, 2015, as amended. The respective Board of Directors of the companies included in th
and joint ventures are responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for s
the Group and of its associate and joint ventures and for preventing and detecting frauds and other irregularities; selection and appli
accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintena
financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to
presentation of the consolidated Ind AS financial statements that give a true and fair view and are free from material misstatement,
which have been used for the purpose of preparation of the consolidated Ind AS financial statements by the Directors of the Holding C
In preparing the consolidated Ind AS financial statements, the respective Board of Directors of the companies included in the Group a
ventures are responsible for assessing the ability of the Group and of its associate and joint ventures to continue as a going concern,
matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the
or has no realistic alternative but to do so.
Those respective Board of Directors of the companies included in the Group and of its associate and joint ventures are also responsib
reporting process of the Group and of its associate and joint ventures.
Auditor’s Responsibilities for the Audit of the Consolidated Ind AS Financial Statements
Our objectives are to obtain reasonable assurance about whether the consolidated Ind AS financial statements as a whole are free fro
whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assu
that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise fr
considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of us
consolidated Ind AS financial statements.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the a
• Identify and assess the risks of material misstatement of the consolidated Ind AS financial statements, whether due to fraud or err
procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. T
material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intent
misrepresentations, or the override of internal control.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the ci
143(3)(i) of the Act, we are also responsible for expressing our opinion on whether the Holding Company has adequate internal financ
financial statements in place and the operating effectiveness of such controls.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures m
• Conclude on the appropriateness of management’s use of the going concern basis of accounting and, based on the audit evidence o
uncertainty exists related to events or conditions that may cast significant doubt on the ability of the Group and its associate and joi
going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the rela
consolidated Ind AS financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on t
to the date of our auditor’s report. However, future events or conditions may cause the Group and its associate and joint ventures to
concern.
• Evaluate the overall presentation, structure and content of the consolidated Ind AS financial statements, including the disclosures,
Ind AS financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
• Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Gr
ventures of which we are the independent auditors, to express an opinion on the consolidated Ind AS financial statements. We are re
supervision and performance of the audit of the financial statements of such entities included in the consolidated Ind AS financial sta
independent auditors. For the other entities included in the consolidated Ind AS financial statements, which have been audited by ot
auditors remain responsible for the direction, supervision and performance of the audits carried out by them. We remain solely respo
We communicate with those charged with governance of the Holding Company and such other entities included in the consolidated In
which we are the independent auditors regarding, among other matters, the planned scope and timing of the audit and significant au
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 regardin
communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where
safeguards.
From the matters communicated with those charged with governance, we determine those matters that were of most significance in
Ind AS financial statements for the financial year ended March 31, 2021 and are therefore the key audit matters. We describe these m
unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a
communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public inte
communication.

Other Matter
(a) We did not audit the financial statements and other financial information, in respect of 11 subsidiaries and 1 Controlled Trust, w
include total assets of `12,338.23 Mn as at March 31, 2021, and total revenues (including other income) of `635.64 Mn and net cash o
year ended on that date. These financial statement and other financial information have been audited by other auditors, which finan
financial information and auditor’s reports have been furnished to us by the management. The consolidated Ind AS financial statemen
share of net loss (including other comprehensive income) of ` 1,885.54 Mn for the year ended March 31, 2021, as considered in the co
statements, in respect of 1 associate and 10 joint ventures, whose financial statements, other financial information have been audite
reports have been furnished to us by the Management. Our opinion on the consolidated Ind AS financial statements, in so far as it rela
disclosures included in respect of these subsidiaries, controlled trust, joint ventures and associate, and our report in terms of sub-sec
Act, in so far as it relates to the aforesaid subsidiaries, controlled trust, joint ventures and associate, is based solely on the report(s)
(b) The accompanying consolidated Ind AS financial statements includes the Group’s share of net loss (including other comprehensive
the year ended March 31, 2021, as considered in the consolidated Ind AS financial statements, in respect of 6 joint ventures, whose f
financial information have not been audited and whose unaudited financial statements, other unaudited financial information have b
Management. Our opinion, in so far as it relates amounts and disclosures included in respect of these joint ventures and our report in
Section 143 of the Act in so far as it relates to the aforesaid joint ventures, is based solely on such unaudited financial statements an
information. In our opinion and according to the information and explanations given to us by the Management, these financial statem
information are not material to the Group.
Our opinion above on the consolidated Ind AS financial statements, and our report on Other Legal and Regulatory Requirements below
the above matters with respect to our reliance on the work done and the reports of the other auditors and the financial statements a
certified by the Management.
Report on Other Legal and Regulatory Requirements
As required by Section 143(3) of the Act, [based on our audit and on the consideration of report of the other auditors on separate fina
other financial information of subsidiaries, associate and joint ventures, as noted in the ‘other matter’ paragraph we report, to the e
(a) We/the other auditors whose report we have relied upon have sought and obtained all the information and explanations which to
and belief were necessary for the purposes of our audit of the aforesaid consolidated Ind AS financial statements;
(b) In our opinion, proper books of account as required by law relating to preparation of the aforesaid consolidation of the financial
far as it appears from our examination of those books and reports of the other auditors;
(c) The Consolidated Balance Sheet, the Consolidated Statement of Profit and Loss including the Statement of Other Comprehensive
Cash Flow Statement and Consolidated Statement of Changes in Equity dealt with by this Report are in agreement with the books of a
purpose of preparation of the consolidated Ind AS financial statements;
(d) In our opinion, the aforesaid consolidated Ind AS financial statements comply with the Accounting Standards specified under Sect
Companies (Indian Accounting Standards) Rules, 2015, as amended;
(e) On the basis of the written representations received from the directors of the Holding Company as on March 31, 2021 taken on r
of the Holding Company and the reports of the statutory auditors who are appointed under Section 139 of the Act, of its subsidiary co
ventures, none of the directors of the Group’s companies, its associate and joint ventures, incorporated in India, is disqualified as on
appointed as a director in terms of Section 164 (2) of the Act;
(f) With respect to the adequacy and the operating effectiveness of the internal financial controls with reference to consolidated In
the Holding Company and its subsidiary companies, associate companies and joint ventures, incorporated in India, refer to our separa
-1” to this report;
(g) In our opinion and based on the consideration of reports of other statutory auditors of the subsidiaries, associate and joint ventur
managerial remuneration for the year ended March 31, 2021 has been paid / provided by the Holding Company, its subsidiaries, assoc
incorporated in India to their directors in accordance with the provisions of section 197 read with Schedule V to the Act;
(h) With respect to the other matters to be included in the Auditor’s Report in accordance with Rule 11 of the Companies (Audit and
amended, in our opinion and to the best of our information and according to the explanations given to us and based on the considera
auditors on separate financial statements as also the other financial information of the subsidiaries, associate and joint ventures, as
paragraph:
i. The consolidated Ind AS financial statements disclose the impact of pending litigations on its consolidated Ind AS financial positi
and joint ventures in its consolidated Ind AS financial statements – Refer Note 25 to the consolidated Ind AS financial statements;
ii. The Group, its associate and joint ventures did not have any material foreseeable losses in long-term contracts including derivat
ended March 31, 2021;
iii. There has been no delay in transferring amounts, required to be transferred, to the Investor Education and Protection Fund by t
subsidiaries, associate and joint ventures, incorporated in India during the year ended March 31, 2021.

For S.R. Batliboi & Associates LLP

Chartered Accountants
ICAI Firm Registration Number: 101049W/E300004
______________________________ per Yogesh Midha Partner
Membership Number: 094941 UDIN: 21094941AAAACE8941
Place: New Delhi Date: June 21, 2021
ANNEXURE-1 TO THE INDEPENDENT AUDITOR’S REPORT OF EVEN DATE ON THE CONSOLIDATED IND AS FINANCIAL STATEMENTS O
Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section 143 of the Companies Act, 2013 (“the Act
In conjunction with our audit of the consolidated Ind AS financial statements of Info Edge (India) Limited (hereinafter referred to as t
and for the year ended March 31, 2021, we have audited the internal financial controls with reference to consolidated Ind AS financia
Company, its subsidiaries and its controlled trust (the Holding Company, its subsidiaries and its controlled trust together referred to a
and joint ventures, which are companies incorporated in India, as of that date.
Management’s Responsibility for Internal Financial Controls
The respective Board of Directors of the companies included in the Group, its associate and joint ventures, which are companies inco
responsible for establishing and maintaining internal financial controls based on the internal control over financial reporting criteria
Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls
issued by the Institute of Chartered Accountants of India (ICAI). These responsibilities include the design, implementation and mainte
financial controls that were operating effectively for ensuring the orderly and efficient conduct of its business, including adherence t
policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and completeness of the acco
preparation of reliable financial information, as required under the Companies Act, 2013.
Auditor’s Responsibility
responsibility is to express an opinion on the Holding Company’s internal financial controls with reference to consolidated Ind AS fina
audit. We conducted our audit in accordance with the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting
the Standards on Auditing, specified under section 143(10) of the Act, to the extent applicable to an audit of internal financial contro
Standards and the Guidance Note require that we comply with ethical requirements and plan and perform the audit to obtain reasona
adequate internal financial controls with reference to consolidated Ind AS financial statements was established and maintained and i
effectively in all material respects.
Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal financial controls with referen
financial statements and their operating effectiveness. Our audit of internal financial controls with reference to consolidated Ind AS
obtaining an understanding of internal financial controls with reference to consolidated Ind AS financial statements, assessing the ris
exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. The procedur
auditor’s judgement, including the assessment of the risks of material misstatement of the financial statements, whether due to frau
We believe that the audit evidence we have obtained and the audit evidence obtained by the other auditors in terms of their reports
Matters paragraph below, is sufficient and appropriate to provide a basis for our audit opinion on the internal financial controls with
AS financial statements.
Meaning of Internal Financial Controls With Reference to Consolidated IND AS Financial Statements
A company’s internal financial control with reference to consolidated Ind AS financial statements is a process designed to provide rea
the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally a
A company’s internal financial control with reference to consolidated Ind AS financial statements includes those policies and procedu
maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the
reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with ge
principles, and that receipts and expenditures of the company are being made only in accordance with authorisations of managemen
company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorised acquisition, use, or disposit
that could have a material effect on the financial statements.
Inherent Limitations of Internal Financial Controls With Reference to Consolidated IND AS Financial Statements
Because of the inherent limitations of internal financial controls with reference to consolidated Ind AS financial statements, includin
improper management override of controls, material misstatements due to error or fraud may occur and not be detected. Also, proje
internal financial controls with reference to consolidated Ind AS financial statements to future periods are subject to the risk that th
with reference to consolidated Ind AS financial statements may become inadequate because of changes in conditions, or that the deg
policies or procedures may deteriorate.
Opinion
In our opinion, the Group , its associate and joint ventures, which are companies incorporated in India, have, maintained in all mater
internal financial controls with reference to consolidated Ind AS financial statements and such internal financial controls with referen
financial statements were operating effectively as at March 31,2021, based on the internal control over financial reporting criteria es
Company considering the essential components of internal control stated in the Guidance Note issued by the ICAI.
Other Matters
Our report under Section 143(3)(i) of the Act on the adequacy and operating effectiveness of the internal financial controls with refe
financial statements of the Holding Company, in so far as it relates to these 11 subsidiaries, 1 associate and 7 joint ventures, which a
India, is based on the corresponding reports of the auditors of such subsidiaries, controlled trust, associate and joint ventures incorpo
For S.R. Batliboi & Associates LLP
Chartered Accountants
ICAI Firm Registration Number: 101049W/E300004

per Yogesh Midha

Partner
Membership Number: 094941 UDIN: 21094941AAAACE8941
Place: New Delhi Date: June 21, 2021
al Statements

inancial statements of Info Edge (India) Limited (hereinafter referred to as “the Holding Company”), its
ts subsidiaries and its controlled trust together referred to as “the Group”) its associate and joint ventures
31 2021, the consolidated Statement of Profit and Loss, including other comprehensive income, the
Statement of Changes in Equity for the year then ended, and notes to the consolidated Ind AS financial
g policies and other explanatory information (hereinafter referred to as “the consolidated Ind AS financial

ording to the explanations given to us and based on the consideration of reports of other auditors on
information of the subsidiaries, controlled trust, associate and joint ventures, the aforesaid consolidated
by the Companies Act, 2013, as amended (“the Act”) in the manner so required and give a true and fair
lly accepted in India, of the consolidated state of affairs of the Group, its associate and joint ventures as
her comprehensive income, their consolidated cash flows and the consolidated statement of changes in

cial statements in accordance with the Standards on Auditing (SAs), as specified under section 143(10) of
urther described in the ‘Auditor’s Responsibilities for the Audit of the Consolidated Ind AS Financial
f the Group, associate, joint ventures in accordance with the ‘Code of Ethics’ issued by the Institute of
requirements that are relevant to our audit of the financial statements under the provisions of the Act
r ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that
propriate to provide a basis for our audit opinion on the consolidated Ind AS financial statements.

onal judgment, were of most significance in our audit of the consolidated Ind AS financial statements for
were addressed in the context of our audit of the consolidated Ind AS financial statements as a whole, and
separate opinion on these matters. For each matter below, our description of how our audit addressed the

he key audit matter to be communicated in our report. We have fulfilled the responsibilities described in
dated Ind AS financial statements section of our report, including in relation to the matter. Accordingly,
ed to respond to our assessment of the risks of material misstatement of the consolidated Ind AS financial
y us and by other auditors of components not audited by us, as reported by them in their audit reports
edures performed to address the matter below, provide the basis for our audit opinion on the

How our audit addressed the key audit matter

as described in note 28 and 36 of the consolidated Ind AS financial statements)
Our audit procedures included and were not limited to the following:
• We involved valuation specialists to evaluate the expectations for the
key assumptions used in the impairment analysis, including discount rate
and long-term growth rate by comparing the expectations to those used by
management and its external valuation specialist.
• We evaluated the valuation methodology, having due regard to the
nature of the investment and the underlying business.
• We also re-performed the sensitivity analysis around the key
assumptions including recent secondary market transactions in order to
ascertain the extent of change in those assumptions required individually
or collectively to result in a further impairment.
• We evaluated the cash flow forecasts used, with comparison to recent
performance, trend analysis and market expectations, including
retrospective reviews to prior year’s forecasts against actual results.
• We discussed potential changes in key drivers as compared to previous
year
/ actual performance with management in order to evaluate the
suitability of the inputs and assumptions used in the cash flow forecasts.
• We tested the arithmetical accuracy of the models.
• We have also assessed the adequacy of the disclosures made in the
financial statements.
Auditor’s Report Thereon
for the other information. The other information comprises the information included in the Annual report,
atements and our auditor’s report thereon.
nts does not cover the other information and we do not express any form of assurance conclusion thereon.
nancial statements, our responsibility is to read the other information and, in doing so, consider whether
e consolidated Ind AS financial statements or our knowledge obtained in the audit or otherwise appears to
erformed, we conclude that there is a material misstatement of this other information, we are required to
d.

d AS Financial Statements
for the preparation and presentation of these consolidated Ind AS financial statements in terms of the
the consolidated financial position, consolidated financial performance including other comprehensive
ment of changes in equity of the Group including its associate and joint ventures in accordance with the
ng the Indian Accounting Standards (Ind AS) specified under section 133 of the Act read with the
amended. The respective Board of Directors of the companies included in the Group and of its associate
equate accounting records in accordance with the provisions of the Act for safeguarding of the assets of
preventing and detecting frauds and other irregularities; selection and application of appropriate
t are reasonable and prudent; and the design, implementation and maintenance of adequate internal
suring the accuracy and completeness of the accounting records, relevant to the preparation and
ents that give a true and fair view and are free from material misstatement, whether due to fraud or error,
he consolidated Ind AS financial statements by the Directors of the Holding Company, as aforesaid.
, the respective Board of Directors of the companies included in the Group and of its associate and joint
roup and of its associate and joint ventures to continue as a going concern, disclosing, as applicable,
cern basis of accounting unless management either intends to liquidate the Group or to cease operations,

luded in the Group and of its associate and joint ventures are also responsible for overseeing the financial
oint ventures.
ated Ind AS Financial Statements
whether the consolidated Ind AS financial statements as a whole are free from material misstatement,
eport that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee
ys detect a material misstatement when it exists. Misstatements can arise from fraud or error and are
hey could reasonably be expected to influence the economic decisions of users taken on the basis of these

rofessional judgment and maintain professional skepticism throughout the audit. We also:
of the consolidated Ind AS financial statements, whether due to fraud or error, design and perform audit
idence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a
n for one resulting from error, as fraud may involve collusion, forgery, intentional omissions,

o the audit in order to design audit procedures that are appropriate in the circumstances. Under section
ng our opinion on whether the Holding Company has adequate internal financial controls with reference to
ness of such controls.
ed and the reasonableness of accounting estimates and related disclosures made by management.
of the going concern basis of accounting and, based on the audit evidence obtained, whether a material
ay cast significant doubt on the ability of the Group and its associate and joint ventures to continue as a
y exists, we are required to draw attention in our auditor’s report to the related disclosures in the
osures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up
nts or conditions may cause the Group and its associate and joint ventures to cease to continue as a going

nt of the consolidated Ind AS financial statements, including the disclosures, and whether the consolidated
sactions and events in a manner that achieves fair presentation.
the financial information of the entities or business activities within the Group and its associate and joint
xpress an opinion on the consolidated Ind AS financial statements. We are responsible for the direction,
statements of such entities included in the consolidated Ind AS financial statements of which we are the
the consolidated Ind AS financial statements, which have been audited by other auditors, such other
n and performance of the audits carried out by them. We remain solely responsible for our audit opinion.
the Holding Company and such other entities included in the consolidated Ind AS financial statements of
other matters, the planned scope and timing of the audit and significant audit findings, including any
fy during our audit.
atement that we have complied with relevant ethical requirements regarding independence, and to
ers that may reasonably be thought to bear on our independence, and where applicable, related

h governance, we determine those matters that were of most significance in the audit of the consolidated
March 31, 2021 and are therefore the key audit matters. We describe these matters in our auditor’s report
t the matter or when, in extremely rare circumstances, we determine that a matter should not be
uences of doing so would reasonably be expected to outweigh the public interest benefits of such

financial information, in respect of 11 subsidiaries and 1 Controlled Trust, whose financial statements
1, and total revenues (including other income) of `635.64 Mn and net cash outflows of `945.90 Mn for the
other financial information have been audited by other auditors, which financial statements, other
nished to us by the management. The consolidated Ind AS financial statements also include the Group’s
of ` 1,885.54 Mn for the year ended March 31, 2021, as considered in the consolidated Ind AS financial
es, whose financial statements, other financial information have been audited by other auditors and whose
ur opinion on the consolidated Ind AS financial statements, in so far as it relates to the amounts and
trolled trust, joint ventures and associate, and our report in terms of sub-sections (3) of Section 143 of the
ontrolled trust, joint ventures and associate, is based solely on the report(s) of such other auditors.
ements includes the Group’s share of net loss (including other comprehensive income) of ` 182.32 Mn for
solidated Ind AS financial statements, in respect of 6 joint ventures, whose financial statements, other
naudited financial statements, other unaudited financial information have been furnished to us by the
and disclosures included in respect of these joint ventures and our report in terms of sub- sections (3) of
aid joint ventures, is based solely on such unaudited financial statements and other unaudited financial
tion and explanations given to us by the Management, these financial statements and other financial

atements, and our report on Other Legal and Regulatory Requirements below, is not modified in respect of
ork done and the reports of the other auditors and the financial statements and other financial information
udit and on the consideration of report of the other auditors on separate financial statements and the
joint ventures, as noted in the ‘other matter’ paragraph we report, to the extent applicable, that:
upon have sought and obtained all the information and explanations which to the best of our knowledge
f the aforesaid consolidated Ind AS financial statements;
y law relating to preparation of the aforesaid consolidation of the financial statements have been kept so
d reports of the other auditors;
tatement of Profit and Loss including the Statement of Other Comprehensive Income, the Consolidated
nges in Equity dealt with by this Report are in agreement with the books of account maintained for the
al statements;
ncial statements comply with the Accounting Standards specified under Section 133 of the Act, read with
amended;
from the directors of the Holding Company as on March 31, 2021 taken on record by the Board of Directors
auditors who are appointed under Section 139 of the Act, of its subsidiary companies, associate and joint
, its associate and joint ventures, incorporated in India, is disqualified as on March 31, 2021 from being
Act;
ctiveness of the internal financial controls with reference to consolidated Ind AS financial statements of
iate companies and joint ventures, incorporated in India, refer to our separate Report in “Annexure

orts of other statutory auditors of the subsidiaries, associate and joint ventures incorporated in India, the
021 has been paid / provided by the Holding Company, its subsidiaries, associate and joint ventures
h the provisions of section 197 read with Schedule V to the Act;
he Auditor’s Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014, as
on and according to the explanations given to us and based on the consideration of the report of the other
er financial information of the subsidiaries, associate and joint ventures, as noted in the ‘Other matter’

e the impact of pending litigations on its consolidated Ind AS financial position of the Group, its associate
tements – Refer Note 25 to the consolidated Ind AS financial statements;
have any material foreseeable losses in long-term contracts including derivative contracts during the year

quired to be transferred, to the Investor Education and Protection Fund by the Holding Company, its
n India during the year ended March 31, 2021.

a Partner
1
T OF EVEN DATE ON THE CONSOLIDATED IND AS FINANCIAL STATEMENTS OF INFO EDGE (INDIA) LIMTED
(i) of Sub-section 3 of Section 143 of the Companies Act, 2013 (“the Act”)
inancial statements of Info Edge (India) Limited (hereinafter referred to as the “Holding Company”) as of
the internal financial controls with reference to consolidated Ind AS financial statements of the Holding
lding Company, its subsidiaries and its controlled trust together referred to as “the Group”) , its associate
India, as of that date.
trols
ded in the Group, its associate and joint ventures, which are companies incorporated in India, are
ncial controls based on the internal control over financial reporting criteria established by the Holding
al control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting
(ICAI). These responsibilities include the design, implementation and maintenance of adequate internal
uring the orderly and efficient conduct of its business, including adherence to the respective company’s
d detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely
under the Companies Act, 2013.
Our
mpany’s internal financial controls with reference to consolidated Ind AS financial statements based on our
uidance Note on Audit of Internal Financial Controls Over Financial Reporting (the “Guidance Note”) and
0) of the Act, to the extent applicable to an audit of internal financial controls, both, issued by ICAI. Those
y with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether
nsolidated Ind AS financial statements was established and maintained and if such controls operated

evidence about the adequacy of the internal financial controls with reference to consolidated Ind AS
ur audit of internal financial controls with reference to consolidated Ind AS financial statements included
with reference to consolidated Ind AS financial statements, assessing the risk that a material weakness
ng effectiveness of internal control based on the assessed risk. The procedures selected depend on the
ks of material misstatement of the financial statements, whether due to fraud or error.
d the audit evidence obtained by the other auditors in terms of their reports referred to in the Other
provide a basis for our audit opinion on the internal financial controls with reference to consolidated Ind

to Consolidated IND AS Financial Statements

consolidated Ind AS financial statements is a process designed to provide reasonable assurance regarding
of financial statements for external purposes in accordance with generally accepted accounting principles.
consolidated Ind AS financial statements includes those policies and procedures that (1) pertain to the
ately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide
ecessary to permit preparation of financial statements in accordance with generally accepted accounting
mpany are being made only in accordance with authorisations of management and directors of the
g prevention or timely detection of unauthorised acquisition, use, or disposition of the company’s assets
ents.
h Reference to Consolidated IND AS Financial Statements
controls with reference to consolidated Ind AS financial statements, including the possibility of collusion or
statements due to error or fraud may occur and not be detected. Also, projections of any evaluation of the
Ind AS financial statements to future periods are subject to the risk that the internal financial controls
ts may become inadequate because of changes in conditions, or that the degree of compliance with the

es, which are companies incorporated in India, have, maintained in all material respects, adequate
Ind AS financial statements and such internal financial controls with reference to consolidated Ind AS
ch 31,2021, based on the internal control over financial reporting criteria established by the Holding
al control stated in the Guidance Note issued by the ICAI.

uacy and operating effectiveness of the internal financial controls with reference to consolidated Ind AS
it relates to these 11 subsidiaries, 1 associate and 7 joint ventures, which are companies incorporated in
ors of such subsidiaries, controlled trust, associate and joint ventures incorporated in India.

1
 CONSOLIDATED BALANCE SHEET AS AT MARCH 31, 2021
Particulars Notes

ASSETS 3 (a)
Non-current assets 3 (b)
Property, plant and equipment Right to use asset 3 (c)
Other intangible assets 3 (c)
Intangible assets under development Investment property 3 (d)
Goodwill 3 (c)
Investment in associate and joint ventures 28 (d)
Financial assets 4 (a)
(i) Investments 4 (f)
(ii) Other financial assets Non current tax assets (net) Deferred tax assets(net) Other non-current assets Total Non-Current Assets 7 (a)
Current Assets 5 (a)
Financial assets 6
(i) Investments 4 (b)
(ii) Trade receivables 4 (c)
(iii) Cash and cash equivalents 4 (d)
(iv) Bank balances other than (iii) above 4 (d)
(v) Loans 4(e)
(vi) Other financial assets Other current assets 4(f)
Total current assets Total assets 6
EQUITY & LIABILITIES 8
Equity 9
Equity share capital Other equity 28 (b)
Equity attributable to equity holders of the parent 10(a)
Non Controlling Interest 10(c)
Total Equity 10(d)
Liabilities 11
Non-current liabilities 12
Financial liabilities 5(b)
(i) Borrowings 7 (b)
(ii) Trade payables 10(c)
-total outstanding dues of micro enterprises and small enterprises 10(b)
-total outstanding dues of creditors other than micro enterprises and small enterprises 10(d)
(iii) Lease liability 11
Provisions 12
Other non-current liabilities Deferred tax liabilities
Non current tax liability (net)
Total non-current liabilities
Current liabilities
Financial liabilities
(i) Trade payables
-total outstanding dues of micro enterprises and small enterprises
-total outstanding dues of creditors other than micro enterprises and small enterprises
(ii) Other financial liabilities
(iii) Lease liability Provisions
Other current liabilities
Total current liabilities Total liabilities
Total equity and liabilities

The accompanying notes 1 to 49 are an integral part of the Consolidated Financial Statements.
As per our report of even date
For S.R. Batliboi & Associates LLP For and on behalf of the Board of Directors
Chartered Accountants
ICAI Firm Registration Number: 101049W/E300004
per Yogesh Midha Sanjeev Bikhchandani
Partner Director
Membership Number 094941
M.M. Jain
Company Secretary

Place : New Delhi Date : June 21,2021 Place : Noida

Date : June 21,2021
 As at March 31, 2021 As at March 31,2020
(`Mn) (`Mn)

322.31 439.28
723.46 865.46
203.25 258.15
- 257.88 - 263.00
597.06 597.06
21,160.67 8,419.71
2,083.70 356.16
5,445.09 886.02
1,483.02 1,317.29
363.47 335.92
8.30 25.45
32,648.21 13,763.50
- 63.74 2,554.03
6,402.52 91.15
19.77 5,271.08
62.10 20.58
24,634.78 30.44
243.76 7,068.64
31,426.67 189.50
15,225.42

64,074.88 28,988.92

1,285.23 1,222.66
53,310.32 20,732.90

54,595.55 21,955.56
787.27 -
55,382.82 21,955.56
0.72 2.42
- -
- 439.47 - 566.20
8.88 6.35
11.50 9.76
1,090.96 54.74
12.56 0.08
1,564.09 639.55
- 643.37 - 634.15
3.33 3.81
209.00 200.38
671.88 552.65
5,600.39 5,002.82
7,127.97 6,393.81
8,692.06 7,033.36

64,074.88 28,988.92

For and on behalf of the Board of Directors

Sanjeev Bikhchandani Hitesh Oberoi

Director Managing Director

M.M. Jain Chintan Thakkar Director & CFO

Company Secretary

Place : Noida
Date : June 21,2021
 CONSOLIDATED STATEMENT OF PROFIT AND LOSS FOR YEAR ENDED MARCH 31, 2021
Particulars Notes

Income 13
Revenue from operations Other income 14
I Total Income 15
Expenses 16
Cost of materials consumed Employee benefits expense Finance costs 17
Depreciation and amortisation expense Advertising and promotion cost Administration and other expenses Network, internet and 18
other direct charges 19
II Total Expenses 20
III Profit before exceptional items, share of net losses of associate & joint ventures accounted for using equity method and 21
tax (I-II) 28(d)
IV Share of net losses of associate & joint ventures accounted for using the equity method 36
V Profit/(Loss) before exceptional items and tax (III+IV) 43
VI Exceptional items 28(d)
VII. Profit/(Loss) before tax (V-VI) 31
Income tax expense 28(d)
(1) Current tax 22
(2) Deferred tax charge
VIII. Total Tax expense
IX. Profit/(Loss) for the year (VII-VIII) Other comprehensive income (OCI)
(A) Items that will be reclassified to profit or loss
Share of other comprehensive income of associate & joint ventures accounted for using the equity method
(B) Items that will not be reclassified to profit or loss
a) Remeasurement of post employment benefit obligation Income tax relating to above
b) Share of other comprehensive income of associate & joint ventures accounted for using the equity method
Other comprehensive income for the year, net of income tax Total comprehensive income/(loss) for the year
Profit/(Loss) attributable to
Equity holders of Info Edge (India) Limited Non-Controlling interests
Other comprehensive income is attributable to
Equity holders of Info Edge (India) Limited Non-Controlling interests
Total comprehensive income/(loss) is attributable to
Equity holders of Info Edge (India) Limited Non-Controlling interests
Earnings per share:
Basic earnings per share
Diluted earnings per share

The accompanying notes 1 to 49 are an integral part of the Consolidated Financial Statements.
As per our report of even date
For S.R. Batliboi & Associates LLP For and on behalf of the Board of Directors
Chartered Accountants
ICAI Firm Registration Number: 101049W/E300004
per Yogesh Midha Sanjeev Bikhchandani
Partner Director
Membership Number 094941
M.M. Jain
Company Secretary

Place : New Delhi Date : June 21,2021 Place : Noida

Date : June 21,2021
021
Year ended March 31, Year ended March 31,
2021 2020
(`Mn) (`Mn)
11,201.22 13,119.30
1,493.96 1,044.65

12,695.18 14,163.95
- 5,673.54 21.05
58.23 5,845.95
499.14 81.97
1,826.06 477.41
683.07 2,062.87
284.47 1,191.30
271.90

9,024.51 9,952.45
3,670.67 4,211.50
(2,118.73) (7,290.18)
1,551.94 (3,078.68)
(14,341.16) (1,821.06)

15,893.10 (1,257.62)
796.72 1,106.73
1,008.34 93.13

1,805.06 1,199.86

14,088.04 (2,457.48)
39.33 25.39
32.41 (65.93)
(8.18) 16.32
(13.50) (4.89)

50.06 (29.11)
14,138.10 (2,486.59)
14,070.81 (2,376.23)
17.23 (81.25)

14,088.04 (2,457.48)
50.06 (29.11)
- -

50.06 (29.11)

14,120.87 (2,405.34)
17.23 (81.25)

14,138.10 (2,486.59)
111.51 (19.46)
110.72 (19.46)

For and on behalf of the Board of Directors

Sanjeev Bikhchandani Hitesh Oberoi

Director Managing Director

M.M. Jain Chintan Thakkar Director & CFO

Company Secretary

Place : Noida
Date : June 21,2021
 CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED MARCH 31, 2021
Year ended March 31,
[Link]. Particulars 2021
(`Mn)
A. Cash flow from operating activities: 1,551.94
B. Profit/ (loss) before exceptional item and tax 499.14
C. Adjustments for: 0.37
Depreciation and amortisation expense Interest on borrowings 57.50
Interest on lease liability (1,188.58)
Interest income from financial assets measured at amortised cost (2.35)
- on fixed deposits with banks (0.82)
- on other financial assets (3.43)
- on income taxes (3.17)
Interest income on Intercorporate deposits (0.64)
Dividend income from financial assets measured at FVTPL* Loss/(gain) on sale of property, plant & equipment (net) Miscellaneous income (36.05)
Net gain on disposal of Investments - (228.25)
Net gain on disposal of financial assets measured at FVTPL* Unwinding of discount on security deposits (14.28)
Interest income on deposits with banks made by ESOP Trust Bad debts /provision for doubtful debts (Net) (13.34)
Share based payment to employees 2.28
Share of net losses of joint ventures/associate Impairment of Intangible asset under development Impairment of Investment property 249.78
Liabilities written back to the extent no longer required Gain on disposal of Right to use asset 2,118.73
Adjustment due to disposal of subsidiary -
Operating profit before working capital changes Adjustments for changes in working capital : - (1.82)
- Decrease/ (Increase) in Trade receivables (0.90)
- Increase in Loans -
- Decrease in Inventories 2,986.11
- Increase/ (Decrease) in Other Financial Assets (Current) 25.13
- Decrease in other financial assets (Non- Current) (31.66)
- Decrease in Other Non- Current assets - 0.02
- (Increase) /Decrease in Other Current asset 1.38
- Decrease in Assets classified as held for sale 12.38
- Increase/ (Decrease) in Trade payables (54.26)
- Increase/ (Decrease) in provisions - 9.22
- Increase/ (Decrease) in Other current liabilities 154.62
- Increase/ (Decrease) in Other non-current liabilities 609.64
Cash generated from operations 1.74
- Income Taxes Paid 3,714.32
Net cash inflow from operations -(A) Cash flow from Investing activities: (957.81)
Purchase of property, plant and equipment and intangible assets
Purchase of property, plant and equipment and intangible assets on account of acquisition of subsidiary Payment for purchase of stake in associate and joint
ventures and other investments
Payment for purchase of current investments Proceeds from sale of current investments Investment in fixed deposits (net)
Proceeds from sale of property, plant and equipment Dividend received
Interest received
Net cash (outflow)/inflow from investing activities-(B) Cash flow from financing activities:
Proceeds from allotment of shares Expenses incurred on issue of shares Proceeds from borrowings Repayment of borrowings
Interest paid on borrowings Repayment of Lease liability Interest on Lease liability
Dividend paid to equity holders of parent Corporate Dividend tax
Net cash inflow/(outflow) from financing activities -(C) Net Increase in cash & cash equivalents-(A)+(B)+(C) Opening balance of cash and cash equivalents
Closing balance of cash and cash equivalents
Cash and cash equivalents comprise
Cash on hand Cheques in hand Balance with banks
-In current accounts
-In fixed deposit accounts with original maturity of less than 3 months 2,756.51
Total cash and cash equivalents (refer note 4(d)) (83.27)
- (1,997.95)
(2.85)
2,563.33
(21,820.72)
1.92
3.17
907.52

(20,428.85)
19,501.89
(459.68)
- (3.79)
(0.37)
(176.77)
(57.50)
-
-

18,803.78
1,131.44
5,271.08

6,402.52
5.61
-
584.01
5,812.90

6,402.52
Note: FVTPL=Fair value through profit or loss
Notes :
1 Reconciliation of liabilities arising from financing activities
Particulars Year ended March 31, Cash Flows(Net) Non Cash
2020 Changes
Borrowings (including current maturities) (`Mn)
6.23 (4.16) Finance Cost
0.37
Finance liability 766.58 (234.27) 116.16
2 The above Statement of Cash Flows has been prepared under the Indirect method as set out in IND AS - 7 on Statement of Cash Flows notified under section 133 of the Companies Act, 2013 (the Act) [Companies (Indian Accounting Standards) Rules, 2015], as amended.
3 Figures in brackets indicate cash outflow.
The accompanying notes 1 to 49 are an integral part of the Consolidated Financial Statements. As per our report of even date
For S.R. Batliboi & Associates LLP For and on behalf of the Board of Directors
Chartered Accountants
ICAI Firm Registration Number: 101049W/E300004

per Yogesh Midha Sanjeev Bikhchandani Hitesh Oberoi

Partner Director Managing Director
Membership Number 094941
M.M Jain Chintan Thakkar
Company Secretary Director & CFO
Place : New Delhi Place : Noida
Date : June 21, 2021 Date : June 21, 2021
 Year ended March 31, Year ended March 31,
2021 2020
(`Mn) (`Mn)
1,551.94 (3,078.68)
499.14 477.41
0.37 0.59
57.50 70.59
(1,188.58) (833.28)
(2.35) -
(0.82) - (3.29)
(3.43) (62.79)
(3.17) 4.22
(0.64) (5.36)
(36.05) (50.73)
- (228.25) (61.81)
(14.28) (9.88)
(13.34) (15.82)
2.28 57.71
249.78 257.41
2,118.73 7,290.18
- 20.00
- (1.82) 11.57
(0.90) (0.15)
- (8.00)
2,986.11 1,140.65
25.13 5,200.54
(31.66) (81.38)
- 0.02 (30.44)
1.38 0.38
12.38 (7.73)
(54.26) 22.98
- 9.22 27.39
154.62 13.26
609.64 8.88
1.74 (67.58)
3,714.32 (18.99)
(957.81) (268.45)
(90.18)
4,708.68
(1,206.98)

2,756.51 3,501.70
(83.27) (264.25)
- (1,997.95) (796.58)
(2.85) (6,591.59)
2,563.33 (22,922.67)
(21,820.72) 23,880.68
1.92 6,548.35
3.17 3.20
907.52 62.79
1,049.81

(20,428.85) 969.74
19,501.89 2.58
(459.68) - 2.65
- (3.79) (4.73)
(0.37) (0.59)
(176.77) (186.77)
(57.50) (70.59)
- (977.50)
- (198.59)

18,803.78 (1,433.54)
1,131.44 3,037.90
5,271.08 2,233.18

6,402.52 5,271.08
61 3.44
6.50
84.01 462.74
812.90 4,798.40

6,402.52 5,271.08

Year ended March 31,

2021
(`Mn)
2.44
 648.47
], as amended.

f of the Board of Directors

ni Hitesh Oberoi
Managing Director

21
 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED MARCH 31, 2021
a. Equity share capital
Particulars Notes
As at April 01, 2019
Changes in equity share capital 8
As at March 31, 2020
Changes in equity share capital 8
As at March 31, 2021
b. Other equity Amount (`M
Notes Attributable to the equity holders of the parent
Reserves & Surplus
Particulars Employee Securities Genera Other Retained Total
stock premium l Reserve earnings
options reserv
outstanding e

Balance as at April 01, 2019 225.59 8,227.66 1,094.84 102.86 14,554.87 24,205.82

Loss for the year - - - - (2,376.23) (2,376.23)

Other Comprehensive Income - - - 25.39 (54.50) (29.11)
Total Comprehensive Income/(loss) for the - - - 25.39 (2,430.73) (2,405.34)
year
Transaction with owners in their capacity as
owners:
Options granted during the year 27 257.41 - - - - 257.41
Amount transferred to General Reserve (17.62) - 17.62 - - -
Amount transfer to Non controlling Interest on - - - - (4.97) (4.97)
account of ESOP
Reversal due to disposal of subsidiary (68.00) - (75.93) - - (143.93)
Dividend paid - - - - (241.68) (241.68)
Interim Dividends - - - - (735.82) (735.82)
Corporate dividend tax - - - - (198.59) (198.59)

Balance as at March 31, 2020 397.38 8,227.66 1,036.53 128.25 10,943.08 20,732.90

Profit for the year - - - - 14,070.81 14,070.81

Other Comprehensive Income - - - 39.33 10.73 50.06
Total Comprehensive Income for the year - - - 39.33 14,081.54 14,120.87
Transaction with owners in their capacity as
owners:
Options granted during the year 27 249.78 - - - - 249.78
Amount received on issue of shares by the - 18,689.32 - - - 18,689.32
Company
(refer
Amount note 35) to General reserve
transfer (147.83) - 147.83 - - -
Distribution to unit holders - - - - (2.83) (2.83)
Amount transfer to Non controlling Interest on - - - - - -
account of share capital
Amount transfer to Non controlling Interest - - - - (20.04) (20.04)
Expenses incurred on issue of shares adjusted - (459.68) - - - (459.68)
from Security Premium Account (refer note 35)
Balance as at March 31, 2021 499.33 26,457.30 1,184.36 167.58 25,001.75 53,310.32
The accompanying notes 1 to 49 are an integral part of the Consolidated Financial Statements.
As per our report of even date
For S.R. Batliboi & Associates LLP For and on behalf of the Board of Dir
Chartered Accountants
ICAI Firm Registration Number: 101049W/E300004

per Yogesh Midha Sanjeev Bikhchandani Hitesh Oberoi

Partner Director Managing Director
Membership Number 094941
M.M Jain Chintan Thakkar Company Secretary Director & CFO
Place : New Delhi Place : Noida
Date : June 21, 2021 Date : June 21, 2021

1. Corporate Information
Info Edge (India) Ltd (the Company) (CIN L74899DL1995PLC068021) is a public limited company domiciled and incorporated under the
Act applicable in India. The registered office of the Company is located at GF-12A, 94 Meghdoot Building, Nehru Place, New Delhi – 1
business is in B-8, Sector-132, Noida-201304. Its shares are listed in two stock exchanges of India. These consolidated financial statem
and its subsidiaries and controlled trust (referred to collectively as the ‘Group’) and the Group’s interest in associates and joint vent
engaged in providing online & offline services through its online portals such as [Link], [Link], [Link], 99 acres.
portal [Link], real estate broking etc.
The consolidated financial statements are approved for issue by the Company’s Board of Directors on June 21, 2021.
2. Significant accounting policies
This note provides a list of the significant accounting policies adopted in the preparation of these consolidated financial statements.
consistently applied except where a newly issued accounting standard is initially adopted or a revision to an existing accounting stand
accounting policy hitherto in use.
2.1 Basis of preparation
(i) Compliance with Ind AS
These consolidated financial statements have been prepared in accordance with the Indian Accounting standards (Ind AS) notified un
Companies Act, 2013 (the Act) [Companies (Indian Accounting Standards) Rules, 2015, as amended] and other relevant provisions of t
All assets and liabilities have been classified as current or non-current as per the Group’s operating cycle and other criteria set out in
to the Companies Act, 2013. Based on the nature of services and the time between the rendering of service and their realisation in c
Company has ascertained its operating cycle as twelve months for the purpose of current and noncurrent classification of assets and
The financial statements are presented in Indian Rupees and all amounts disclosed in the financial statements and notes have been ro
points to the nearest Million (as per the requirement of Schedule III), unless otherwise stated.
(ii) Historical Cost Convention
The Consolidated financial statements have been prepared on a historical cost basis, except for the following:
• Certain financial assets and liabilities (including derivative instruments) that is measured at fair value / amortised cost less dimi
• Defined benefit plans-plan assets measured at fair value;
• Share based payments; and
• Assets held for sale – measured at fair value less cost to sell.
(iii) Principles of consolidation and equity accounting
(i) Subsidiaries (including controlled trust)
Subsidiaries are all entities over which the Group has control. The Group controls an entity when the Group is exposed to, or has righ
involvement with the entity and has the ability to affect those returns through its power to direct the relevant activities of the entity
subsidiary begins when the Group obtains control over the subsidiary and ceases when the Group loses control of the subsidiary. Asset
expenses of a subsidiary acquired or disposed off or earned or incurred, as the case may be, during the year are included in the conso
from the date the Group gains control until the date the Group ceases to control the subsidiary.
The acquisition method of accounting is used to account for business combinations by the Group.
The Group combines the financial statements of the parent and its subsidiaries line by line adding together like items of assets, liabil
expenses. Intercompany transactions, balances and unrealised gains on transactions between group companies are eliminated. Unrea
eliminated unless the transaction provides evidence of an impairment of the transferred asset. Consolidated financial statements are
accounting policies for like transactions and other events in similar circumstances. If a member of the group uses accounting policies
the consolidated financial statements for like transactions and events in similar circumstances, appropriate adjustments are made to
financial statements in preparing the consolidated financial statements to ensure conformity with the group’s accounting policies. Th
entities used for the purpose of consolidation are drawn up to same reporting date as that of the parent company, i.e., year ended o
Non-controlling interests in the results and equity of subsidiaries are shown separately in the consolidated statement of profit and los
changes in equity and balance sheet respectively.
(ii) Associates
Associates are all entities over which the Group has significant influence but not control or joint control. This is generally the case w
substantive right to take decisions about the relevant activities in such entities. Investments in associates are accounted for using the
accounting (see (iv) below, after initially being recognised at cost.)
(iii) Joint arrangements
Under Ind AS 111 Joint Arrangements, investments in joint arrangements are classified as either joint operations or joint ventures. Th
the contractual rights and obligations of each investor (who have rights to the net assets of the joint venture), rather than the legal s
arrangement. Info Edge (India) Limited has only joint ventures.
Interests in joint ventures are accounted for using the equity method (see (iv) below), after initially being recognised at cost in the c
(iv) Equity method
Under the equity method of accounting, the investments are initially recognised at cost and adjusted thereafter to recognise the Gro
acquisition profits or losses of the investee in profit and loss, and the Group’s share of other comprehensive income of the
entities used for the purpose of consolidation are drawn up to same reporting date as that of the parent company, i.e., year ended o
Non-controlling interests in the results and equity of subsidiaries are shown separately in the consolidated statement of profit and los
changes in equity and balance sheet respectively.
(ii) Associates
Associates are all entities over which the Group has significant influence but not control or joint control. This is generally the case w
substantive right to take decisions about the relevant activities in such entities. Investments in associates are accounted for using the
accounting (see (iv) below, after initially being recognised at cost.)
(iii) Joint arrangements
Under Ind AS 111 Joint Arrangements, investments in joint arrangements are classified as either joint operations or joint ventures. Th
the contractual rights and obligations of each investor (who have rights to the net assets of the joint venture), rather than the legal s
arrangement. Info Edge (India) Limited has only joint ventures.
Interests in joint ventures are accounted for using the equity method (see (iv) below), after initially being recognised at cost in the c
(iv) Equity method
Under the equity method of accounting, the investments are initially recognised at cost and adjusted thereafter to recognise the Gro
acquisition profits or losses of the investee in profit and loss, and the Group’s share of other comprehensive income of the

investee in other comprehensive income. Dividends received or receivable from associates and joint ventures are recognised as a
amount of the investment. Goodwill relating to the associate or joint venture is included in the carrying amount of the investmen
impairment individually.
Unrealised gains and losses resulting from transactions between the Group and its associates and joint ventures are eliminated to
interest in these entities. Accounting policies of equity accounted investees have been adjusted where necessary to ensure consis
adopted by the Group.
If an entity’s share of losses of an associate or a joint venture equals or exceeds its interest in the associate or joint venture (whi
interest that, in substance, form part of the Group’s net investment in the associate or joint venture), the entity discontinues rec
losses. Additional losses are recognised only to the extent that the Group has incurred legal or constructive obligations or made p
associate or joint venture. If the associate or joint venture subsequently reports profits, the entity resumes recognising its share
share of the profits equals the share of losses not recognised.
The aggregate of the Group’s share of profit or loss of an associate and a joint venture is shown on the face of the statement of p
The carrying amount of equity accounted investments are tested for impairment in accordance with the policy described in note
(v) Changes in ownership interests
The Group treats transactions with non-controlling interests that do not result in a loss of control as transactions with equity own
ownership interest results in an adjustment between the carrying amounts of the controlling and non-controlling interests to refle
the subsidiary. Any difference between the amount of the adjustment to non-controlling interests and any consideration paid or r
equity.
When the Group ceases to consolidate or equity account for an investment because of a loss of control, joint control or significan
interest in the entity is remeasured to its fair value with the change in carrying amount recognised in profit or loss. This fair valu
amount for the purposes of subsequently accounting for the retained interest as an associate, joint venture or financial asset. In a
previously recognised in other comprehensive income in respect of that entity are accounted for as if the group had directly dispo
liabilities. This may mean that amounts previously recognised in other comprehensive income are reclassified to profit or loss.
If the ownership interest in a joint venture or an associate is reduced but joint control or significant influence is retained, only a
amounts previously recognised in other comprehensive income are reclassified to profit or loss where appropriate.
2.2 Summary of significant accounting policies:
A) Business Combinations and goodwill
The acquisition method of accounting is used to account for all business combinations, regardless of whether equity instruments o
The consideration transferred for the acquisition of a subsidiary comprises the
• fair values of the assets transferred;
• liabilities incurred to the former owners of the acquired business;
• equity interests issued by the Group; and
• fair value of any asset or liability resulting from a contingent considerationarrangement.
Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are, with limited exceptio
fair values at the acquisition date. The group recognises any non-controlling interest in the acquired entity on an acquisition- by-
value or at the non-controlling interest’s proportionate share of the acquired entity’s net identifiable assets. Acquisition-related
incurred.
However, the following assets and liabilities acquired in a business combination are measured at the basis indicated below:
• Deferred tax assets or liabilities, and the assets or liabilities related to employee benefit arrangements are recognised and m
Ind AS 12 Income Tax and Ind AS 19 Employee Benefits respectively
The excess of the
• consideration transferred;
• amount of any non-controlling interest in the acquired entity
• acquisition-date fair value of any previous equity interest in the acquired entity, and
• acquisition of intangibles such as customer contracts and relationship, brands, Technology platform etc.
over the fair value of the net identifiable assets acquired and liabilities assumed is recorded as goodwill. If those amounts are les
net identifiable assets of the business acquired, the difference is recognised in other comprehensive income and accumulated in
provided there is clear evidence of the underlying reasons for classifying the business combination as a bargain purchase. In other
Notes Amount (`Mn)
1,220.08
8 2.58
1,222.66
8 62.57
1,285.23
Amount (`Mn)
Non Total
Controllin
g Interest

(134.71) 24,071.11

(81.25) (2457.48)
- (29.11)
(81.25) (2,486.59)

- 257.41
- -
4.97 -

210.99 67.06
- (241.68)
- (735.82)
- (198.59)

- 20,732.90

17.23 14,088.04
- 50.06
17.23 14,138.10

- 249.78
- 18,689.32

- -
- (2.83)
750.00 750.00

20.04 -
(459.68)

787.27 54,097.59
 behalf of the Board of Directors

handani Hitesh Oberoi

Managing Director

1, 2021

nd incorporated under the provisions of the Companies

Nehru Place, New Delhi – 110019 and principal place of
nsolidated financial statements comprise the Company
associates and joint ventures. The Group is primarily
[Link], 99 [Link], [Link], offline

21, 2021.

ted financial statements. These policies have been

n existing accounting standard requires a change in

dards (Ind AS) notified under section 133 of the

er relevant provisions of the Act.
nd other criteria set out in the Schedule III (Division II)
e and their realisation in cash and cash equivalents, the
assification of assets and liabilities.
nts and notes have been rounded off upto two decimal

ng:
/ amortised cost less diminution if any;

is exposed to, or has right to, variable returns from its

ant activities of the entity. Consolidation of a
rol of the subsidiary. Assets, liabilities, income and
r are included in the consolidated financial statements

like items of assets, liabilities, equity, income and

nies are eliminated. Unrealised losses are also
d financial statements are prepared using uniform
p uses accounting policies other than those adopted in
adjustments are made to that group member’s
p’s accounting policies. The financial statements of all
mpany, i.e., year ended on 31 March.
statement of profit and loss, consolidated statement of

his is generally the case where the Group has no

re accounted for using the equity method of

tions or joint ventures. The classification depends on

re), rather than the legal structure of the joint

recognised at cost in the consolidated balance sheet.

after to recognise the Group’s share of the post-

e income of the
mpany, i.e., year ended on 31 March.
statement of profit and loss, consolidated statement of

his is generally the case where the Group has no

re accounted for using the equity method of

tions or joint ventures. The classification depends on

re), rather than the legal structure of the joint

recognised at cost in the consolidated balance sheet.

after to recognise the Group’s share of the post-

e income of the

ntures are recognised as a reduction in the carrying

g amount of the investment and is not tested for

entures are eliminated to the extent of the group’s

necessary to ensure consistency with the policies

ciate or joint venture (which includes any long term

the entity discontinues recognising its share of further
tive obligations or made payments on behalf of the
mes recognising its share of those profits only after its

face of the statement of profit and loss.

e policy described in note 2.2(E) below.

nsactions with equity owners of the Group. A change in

ontrolling interests to reflect their relative interests in
any consideration paid or received is recognised within

joint control or significant influence, any retained

rofit or loss. This fair value becomes the initial carrying
ture or financial asset. In addition, any amounts
he group had directly disposed of the related assets or
ssified to profit or loss.
luence is retained, only a proportionate share of the
ppropriate.

ether equity instruments or other assets are acquired.

are, with limited exceptions, measured initially at their

tity on an acquisition- by-acquisition basis either at fair
ssets. Acquisition-related costs are expensed as

sis indicated below:

ents are recognised and measured in accordance with

m etc.
l. If those amounts are less than the fair value of the
come and accumulated in equity as capital reserve
bargain purchase. In other cases, the bargain purchase
If the business combination is achieved in stages, the acquisition date carrying value of the acquirer’s previously held equity i
remeasured to fair value at the acquisition date. Any gains or losses arising from such remeasurement are recognised in profit
comprehensive income, as appropriate.
B) Property, plant and equipment
Property, plant and equipment are stated at historical cost less accumulated depreciation and accumulated impairment losse
includes expenditure that is directly attributable to the acquisition of the items.
Subsequent costs are included in the asset’s carrying amount or recognized as a separate asset, as appropriate, only when it i
economic benefits associated with the item will flow to the Company and the cost of the item can be measured reliably. The
component accounted for as a separate asset is derecognized when replaced. All other repairs and maintenance are recognize
reporting period in which they are incurred.
Transition to Ind AS
On transition to Ind AS, the Group has elected to continue with the carrying value of all of its property, plant and equipment
measured as per the previous GAAP and use that carrying value as the deemed cost of the property, plant and equipment.
Depreciation methods and estimated useful lives
Depreciation is provided on a pro-rata basis on the straight line method over the estimated useful lives of assets, based on int
independent technical evaluation done by the Management experts which are equal to, except in case of Plant and Machinery
Vehicles where useful life is lower than life prescribed under Schedule II to the Companies Act, 2013, in order to reflect the a

Assets Estimated useful life (Years)

Building 60
Computers 3-6
Plant and Machinery 3-10
Furniture and Fixtures 3-10
Office Equipment 3-5
Vehicles 6
The property, plant and equipment acquired under finance leases and other leasehold improvements are depreciated over the
shorter of the assets’ useful life and the lease term if there is no reasonable certainty that the Company will obtain ownership
The asset’s useful lives and methods of depreciation are reviewed at the end of each reporting period and adjusted prospecti
carrying amount is written down immediately to its recoverable amount if the asset’s carrying amount is greater than its estim
Gains and losses on disposals are determined by comparing net disposal proceeds with carrying amount of the asset. These are
within other income.
Assets costing less than or equal to ` 5,000 are fully depreciated pro-rata from date of acquisition.
Capital work in progress is stated at cost, net of accumulated impairment loss, if any
(C) Intangible assets
Goodwill
Goodwill on acquisitions of subsidiaries is included in intangible assets. Goodwill is not amortised but it is tested for impairme
frequently if events or changes in circumstances indicate that it might be impaired, and is carried at cost less accumulated im
losses on the disposal of an entity include the carrying amount of goodwill relating to the entity sold.
Other intangible assets
Other Intangible assets acquired separately are measured on initial recognition at historical cost. The cost of intangible assets
combination is their fair value at the date of acquisition. Intangibles assets have a finite life and are subsequently carried at c
amortization and accumulated impairment losses.
Intangible assets with finite lives are amortised over the useful life and assessed for impairment whenever there is an indicati
may be impaired. The amortization period and the amortization method for an intangible asset with a finite useful life are rev
each reporting period. Changes in the expected useful life or the expected pattern of consumption of future economic benefi
considered to modify the amortization period or method, as appropriate, and are treated as changes in accounting estimates.
intangible assets with finite lives is recognized in the statement of profit and loss unless such expenditure forms part of carry
Gains or losses arising from derecognition of an intangible asset are measured as the difference between the net disposal proc
of the asset and are recognized in the statement of profit or loss when the asset is derecognized.
Amortisation methods and estimated useful lives

Assets
Enterprise resource planning software
Specialised software license
Other software licenses
Brands
Technology platform
Customer contracts & relationship
Assets costing less than or equal to ` 5,000 are fully amortised pro-rata from date of acquisition.
(D) Investment property
Investment properties are measured initially at cost, including transaction costs. Subsequent to initial recognition, investmen
less accumulated depreciation and accumulated impairment loss, if any.
Though the group measures investment property using cost based measurement, the fair value of investment property is discl
are determined based on an annual evaluation performed by an accredited external independent valuer applying a Direct Com
The group depreciates investment property over 62 years from the date of original purchase.
Investment properties are derecognised either when they have been disposed of or when they are permanently withdrawn fro
benefit is expected from their disposal. The difference between the net disposal proceeds and the carrying amount of the ass
loss in the period of derecognition.
(E) Impairment of non-financial assets
Goodwill and intangible assets that have an indefinite useful life are not subject to amortisation and are tested annually for im
if events or changes in circumstances indicate that they might be impaired. For other assets, assessment is done at each balan
there is any indication that an asset may be impaired. If any such indication exists or when annual impairment testing for an a
of the recoverable amount of the asset/cash generating unit is made. Recoverable amount is higher of an asset’s or cash gene
costs of disposal and its value in use. Value in use is the present value of estimated future cash flows expected to arise from t
and from its disposal at the end of its useful life. For the purpose of assessing impairment, the recoverable amount is determi
unless the asset does not generate cash inflows that are largely independent of those from other assets or group of assets. Th
assets that generates cash inflows from continuing use that are largely independent of the cash inflows from other assets or g
as a cash generating unit (CGU). An asset or CGU whose carrying value exceeds its recoverable amount is considered impaired
recoverable amount. Assessment is also done at each balance sheet for possible reversal of an impairment loss recognized for
periods.
(F) 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 transact
continuing use and a sale is considered highly probable. The criteria for held for sale is considered to have met only when the
immediate sale in its present condition, subject only to terms that are usual and customary for sales of such assets, its sale is
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
increases in fair value less costs to sell of an asset, but not in excess of any cumulative impairment loss previously recognised
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.
(G) Inventories
Inventories are valued at the lower of cost and net realisable value.
Costs incurred in bringing each product to its present location and condition are accounted for as follows:
Raw materials and packing materials: Lower of cost and net realizable value. However, materials and other items held for use
inventories are not written down below cost if the finished products in which they will be incorporated are expected to be sol
determined on a weighted average basis. Customs duty on imported raw materials is treated as part of the cost of the invento
Work in progress & finished goods: Lower of cost and net realizable value. Cost includes direct materials and labour and a pro
overheads based on normal operating capacity. Cost is determined on a weighted average.
Net realisable value is the estimated selling price in the ordinary course of business, less estimated costs of completion and th
to make the sale.
(H) Foreign currency translations
(i) Functional and presentation currency
Items included in these consolidated financial statements of the Group are measured using the currency of the primary econo
Group operates (‘the functional currency’) i.e., Indian Rupee (INR) which is its presentation currency as well.
(ii) Transactions and balances
Initial recognition
On initial recognition, all foreign currency transactions are recorded by applying to the foreign currency amount the spot exch
functional currency and the foreign currency at the date of the transactions.
The Group follows Appendix B to Ind AS 21 – Foreign Currency Transactions and Advance Considerations which clarifies the dat
purpose of determining the exchange rate to use on initial recognition of the related asset, expense or income when an entity
consideration in a foreign currency.
Subsequent recognition
As at the reporting date, foreign currency monetary items are translated using the closing rate and non-monetary items that a
historical cost in a foreign currency are translated using the exchange rate at the date of the initial transaction.
Exchange gains and losses arising on the settlement of monetary items or on translating monetary items at rates different from
translated on initial recognition during the year or in previous financial statements are recognised in profit or loss in the year
Costs incurred in bringing each product to its present location and condition are accounted for as follows:
Raw materials and packing materials: Lower of cost and net realizable value. However, materials and other items held for use
inventories are not written down below cost if the finished products in which they will be incorporated are expected to be sol
determined on a weighted average basis. Customs duty on imported raw materials is treated as part of the cost of the invento
Work in progress & finished goods: Lower of cost and net realizable value. Cost includes direct materials and labour and a pro
overheads based on normal operating capacity. Cost is determined on a weighted average.
Net realisable value is the estimated selling price in the ordinary course of business, less estimated costs of completion and th
to make the sale.
(H) Foreign currency translations
(i) Functional and presentation currency
Items included in these consolidated financial statements of the Group are measured using the currency of the primary econo
Group operates (‘the functional currency’) i.e., Indian Rupee (INR) which is its presentation currency as well.
(ii) Transactions and balances
Initial recognition
On initial recognition, all foreign currency transactions are recorded by applying to the foreign currency amount the spot exch
functional currency and the foreign currency at the date of the transactions.
The Group follows Appendix B to Ind AS 21 – Foreign Currency Transactions and Advance Considerations which clarifies the dat
purpose of determining the exchange rate to use on initial recognition of the related asset, expense or income when an entity
consideration in a foreign currency.
Subsequent recognition
As at the reporting date, foreign currency monetary items are translated using the closing rate and non-monetary items that a
historical cost in a foreign currency are translated using the exchange rate at the date of the initial transaction.
Exchange gains and losses arising on the settlement of monetary items or on translating monetary items at rates different from
translated on initial recognition during the year or in previous financial statements are recognised in profit or loss in the year

Translation of foreign operations

The financial statements of foreign operations are translated using the principles and procedures mentioned above, since thes
if it is an extension of the Company’s operations.
(I) Revenue recognition
The Group follows Ind AS 115 “Revenue from Contracts with Customers” using the modified retrospective approach.
Revenue is recognised upon transfer of control of promised services to customers in an amount that reflects the consideration
exchange for those services (net of goods and services tax).
The Group earns revenue significantly from the following sources viz.
a) Recruitment solutions through its career web site, such as [Link], [Link] & [Link]:-
Revenue is received primarily in the form of fees, which is recognized prorata over the subscription / advertising / service ag
between one to twelve months.
b) Matrimonial web site, [Link], Real Estate website, [Link] and Education classified website, [Link]
Revenue is received in primarily the form of subscription fees, which is recognized over the period of subscription / advertisin
ranging between one to twelve months. The revenue is recognized on principal to principal basis and recognized gross of agen
applicable in case of [Link].
c) Placement search division, Quadrangle:-
Revenue is received in the form of fees, for placements at various levels in a client’s organization. Revenue is booked on the
search and selection activity.
d) Resume Fast Forward Service:-
The revenue from Resume Sale Services is earned in the form of fees and is recognized on completion of the related service.
e) Real estate broking division
Commission income on property bookings placed with builders / developers is accrued once the related services have been re
Revenue in relation to rendering of the services mentioned in (a) & (b) above where performance obligations are satisfied ove
uncertainty as to measurability or collectability of consideration, is recognised ratably over the period of in which services ar
period) and rendering of the services mentioned in (c) to (e) above are recognised in the accounting period in which the servi
is uncertainty as to measurement or ultimate collectability, revenue recognition is postponed until such uncertainty is resolve
In respect of (a) & (b) above, the unaccrued amounts are reflected in the Balance sheet as Income received in advance (defer
The Group has as a matter of practical expedient recognised the incremental costs of obtaining a contract as an expense whe
amortisation period of the asset that the entity otherwise would have recognised is generally one year or less.
(J) Retirement and other employee benefits
(i) Short-term obligations
Liabilities for salaries, including other monetary and non-monetary benefits that are expected to be settled wholly within 12
period in which the employees render the related service are recognised in respect of employees’ services up to the end of th
measured at the amounts expected to be paid when the liabilities are settled. The liabilities are presented as current employ
balance sheet.
(ii) Other Long-term employee benefit obligations
The liabilities for earned leave are not expected to be settled wholly within 12 months after the end of the period in which th
related service. They are therefore measured as the present value of expected future payments to be made in respect of serv
upto the end of the reporting period using the projected unit credit method. The benefits are discounted using the market yie
period that have terms approximating to the terms of the related obligation. Remeasurements as a result of experience adjus
actuarial assumptions are recognised in profit or loss.
The obligations are presented as current liabilities in the balance sheet if the entity does not have an unconditional right to d
twelve months after the reporting period, regardless of when the actual settlement is expected to occur.
(iii) Post-employment obligations
The Group operates the following post-employment schemes:
a) defined contribution plans - providentfund
b) defined benefit plans - gratuity plans
measured at the amounts expected to be paid when the liabilities are settled. The liabilities are presented as current employ
balance sheet.
(ii) Other Long-term employee benefit obligations
The liabilities for earned leave are not expected to be settled wholly within 12 months after the end of the period in which th
related service. They are therefore measured as the present value of expected future payments to be made in respect of serv
upto the end of the reporting period using the projected unit credit method. The benefits are discounted using the market yie
period that have terms approximating to the terms of the related obligation. Remeasurements as a result of experience adjus
actuarial assumptions are recognised in profit or loss.
The obligations are presented as current liabilities in the balance sheet if the entity does not have an unconditional right to d
twelve months after the reporting period, regardless of when the actual settlement is expected to occur.
(iii) Post-employment obligations
The Group operates the following post-employment schemes:
a) defined contribution plans - providentfund
b) defined benefit plans - gratuity plans
a) Defined contribution plans
The Group has a defined contribution plan for the post-employment benefits namely Provident Fund which is administered thr
Fund Commissioner and the contributions towards such fund are recognised as employee benefits expense and charged to the
when they are due. The Group does not carry any further obligations with respect to this, apart from contributions made on a
b) Defined benefit plans
The Group has defined benefit plan, namely gratuity for eligible employees in accordance with the Payment of Gratuity Act, 1
determined on the basis of an actuarial valuation (using the Projected Unit Credit method) at the end of each year. The Gratu
income tax authorities and is administered through Life Insurance Corporation of India under its Group Gratuity Scheme.

The present value of the defined benefit obligation denominated in INR is determined by discounting the estimated future cas
market yields at the end of the reporting period on government bonds that have terms approximating to the tenor of the rela
asset recognized in the balance sheet in respect of gratuity is the present value of the defined benefit obligation at the end o
fair value of plan assets. The net interest cost is calculated by applying the discount rate to the net balance of the defined be
value of plan assets. This cost is included in employee benefit expense in the statement of profit and loss.
Remeasurements of the net defined liability, comprising of actuarial gains and losses, return on plan assets (excluding amount
the net defined benefit liability) and any change in the effect of asset ceiling (excluding amounts included in net interest on t
liability), are recognised immediately in the balance sheet with a corresponding debit or credit to retained earnings through O
(OCI) in the period in which they occur. Remeasurements are not reclassified to profit or loss in subsequent periods.
Change in the present value of the defined benefit obligation resulting from plan amendments or curtailments are recognised
loss as past service cost.
(iv) Bonus Plans
The Group recognises a liability and an expense for bonuses. The Group recognises a provision where contractually obliged or
that has created a constructive obligation.
(v) Termination benefits
Termination benefits are payable when employment is terminated by the Company before the normal retirement date, or wh
voluntary redundancy in exchange for these benefits. The Company recognises termination benefits at the earlier of the follow
Company can no longer withdraw the offer of those benefits; and (b) when the entity recognises costs for a restructuring that
37 and involves the payment of terminations benefits. In the case of an offer made to encourage voluntary redundancy, the te
measured based on the number of employees expected to accept the offer. Benefits falling due more than 12 months after th
are discounted to present value.
(vi) Share based payments
Share-based compensation benefits are provided to employees via the Info Edge Limited Employee Option Plan and share-app
equity settled schemes.
Employee options
The fair value of options granted under the Info Edge Employees’ Stock Option Scheme is recognised as an employee benefits
increase in equity. The total amount to be expensed is determined by reference to the grant date fair value of the options gra
• including any market performance conditions (e.g., the entity’s share price)
• excluding the impact of any service and non-market performance vesting conditions (e.g. profitability, sales growth targe
of the entity over a specified time period), and
• including the impact of any non-vesting conditions (e.g. the requirement for employees to save or holdings shares for a sp
The total expense is recognised over the vesting period, which is the period over which all of the specified vesting conditions
of each period, the entity revises its estimates of the number of options that are expected to vest based on the non-market v
It recognises the impact of the revision to original estimates, if any, in profit or loss, with a corresponding adjustment to equi
Share appreciation rights
Share appreciation rights granted are considered to be towards equity settled share based transactions and as per IND AS 102,
measured at fair value as at the grant date. Company’s share appreciation rights are recognised as employee benefit expense
period.
(K) Income tax
The income tax expense or credit for the period is the tax payable on the current period’s taxable income based on the applic
jurisdiction adjusted by changes in deferred tax assets and liabilities attributable to temporary differences and to unused tax
The current income tax is calculated on the basis of the tax rates and the tax laws enacted or substantively enacted at the re
periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulations is subject to
provisions or make reversals of provisions made in earlier years, where appropriate, on the basis of amounts expected to be p
authorities.
It recognises the impact of the revision to original estimates, if any, in profit or loss, with a corresponding adjustment to equi
Share appreciation rights
Share appreciation rights granted are considered to be towards equity settled share based transactions and as per IND AS 102,
measured at fair value as at the grant date. Company’s share appreciation rights are recognised as employee benefit expense
period.
(K) Income tax
The income tax expense or credit for the period is the tax payable on the current period’s taxable income based on the applic
jurisdiction adjusted by changes in deferred tax assets and liabilities attributable to temporary differences and to unused tax
The current income tax is calculated on the basis of the tax rates and the tax laws enacted or substantively enacted at the re
periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulations is subject to
provisions or make reversals of provisions made in earlier years, where appropriate, on the basis of amounts expected to be p
authorities.
Deferred tax is recognized for all the temporary differences arising between the tax bases of assets and liabilities and their ca
financial statements, subject to the consideration of prudence in respect of deferred tax assets. Deferred tax assets are recog
only if it is probable that sufficient future taxable amounts will be available against which such deferred tax asset can be real
liabilities are measured using the tax rates and tax laws that have been enacted or substantively enacted by the end of the re
expected to apply when the related deferred income tax asset is realized or the deferred income tax liability is settled. The c
tax assets are reviewed at each Balance Sheet date and reduced to the extent that it is no longer probable that sufficient tax
allow all or part of the deferred tax asset to be utilised. Unrecognised deferred tax assets are re-assessed at each reporting d
extent that it has become probable that future taxable profits will allow the deferred tax asset to be recovered.
Deferred tax liabilities are not recognised for temporary differences between the carrying amount and tax bases of investmen
and interest in joint arrangements where the company is able to control the timing of the reversal of the temporary differenc
differences will not reverse in the foreseeable future.
Deferred tax assets are not recognised for temporary differences between the carrying amount and tax bases of investments i
interest in joint arrangements where it is not probable that the differences will reverse in the foreseeable future and taxable
against which the temporary difference can be utilised.

Deferred tax liability is created on notional gain on loss of stake in the investment if and when it is probable that the group w
partly or fully.
Current and deferred tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comp
in equity. In this case, the tax is also recognised in other comprehensive income or directly in equity, respectively.
Deferred tax assets and liabilities are offset if a legally enforceable right exists to set off current tax assets and liabilities and
relate to the same taxable authority. Current tax assets and liabilities are offset where the entity has a legally enforceable ri
either to settle on a net basis, or to realize the asset and settle the liability simultaneously.
(L) Provisions
Provisions are recognised when the Company has a present legal or constructive obligation as a result of past events, it is prob
resources embodying economic benefits will be required to settle the obligation and the amount can be reliably estimated. Pr
future operating losses.
Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined b
obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in
may be small.
If the effect of the time value of money is material, provisions are measured at the present value of management’s best estim
required to settle the present obligation at the end of the reporting period. The discount rate used to determine the present
reflects the risks specific to the liability. The increase in the provision due to the passage of time is recognized as finance cos
(M) Leases (as lessee) Operating leases
The company assesses whether a contract contains a lease, at inception of a contract. A contract is, or contains, a lease if the
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
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
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 asse
these options when it is reasonably certain that they will be exercised.
The right-of-use assets are initially recognized at cost, which comprises the initial amount of the lease liability adjusted for a
prior to the commencement date of the lease plus any initial direct costs less any lease incentives. They are subsequently me
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 liabi
amortized cost at the present value of the future lease payments. Lease liabilities are remeasured with a corresponding adjus
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 lessee
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
Transition
The Ministry of Corporate Affairs on 30 March 2019 notified the new leasing standard, viz., Ind AS 116 Leases. Ind AS 116 is ap
beginning on or after 1 April 2019 for all Ind AS companies. It replaces current guidance under Ind AS 17 Leases.
Hence effective April 01, 2019 the Group adopted Ind AS 116 and applied the standard to all lease contracts existing on April
retrospective approach and has taken the cumulative adjustment to right of use of assets, on the date of initial application. C
recorded the lease liability at the present value of the lease payments discounted at the incremental borrowing rate at the da
Comparatives of previous periods have not retrospectively adjusted and therefore will continue to be reported under previous
amortized cost at the present value of the future lease payments. Lease liabilities are remeasured with a corresponding adjus
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 lessee
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
Transition
The Ministry of Corporate Affairs on 30 March 2019 notified the new leasing standard, viz., Ind AS 116 Leases. Ind AS 116 is ap
beginning on or after 1 April 2019 for all Ind AS companies. It replaces current guidance under Ind AS 17 Leases.
Hence effective April 01, 2019 the Group adopted Ind AS 116 and applied the standard to all lease contracts existing on April
retrospective approach and has taken the cumulative adjustment to right of use of assets, on the date of initial application. C
recorded the lease liability at the present value of the lease payments discounted at the incremental borrowing rate at the da
Comparatives of previous periods have not retrospectively adjusted and therefore will continue to be reported under previous
as per Ind AS 17. Refer note 2.2(M)-Significant accounting policies-Leases in the Annual report of the Company for the year en
On transition, the Group recognised right-of-use assets and lease liabilities for those leases previously classified as operating l
leases and leases of low-value assets. The Group recognised a lease liability measured at the present value of the remaining le
use asset is recognised at its carrying amount as if the standard had been applied since the commencement of the lease, but d
incremental borrowing rate as at April 1, 2019. The right-of-use assets were recognised based on the amount equal to the leas
related prepaid and accrued lease payments previously recognised. Lease liabilities were recognised based on the present val
payments, discounted using the incremental borrowing rate at the date of initial application.
The effect of adoption of Ind AS 116 during current year ended and previous year ended March 31, 2020 is as follows:
The Group has recognised Right of use assets for ` 869.76 Mn and Lease liabilities of ` 869.76 Mn as at April 1, 2019 i.e., trans
equalisation reserve of ` 32.22 Mn and prepaid rent arising due to discounting of security deposit of ` 32.24 Mn has been adju
asset (ROU). The Group also reclassified its leasehold land amounting to ` 135.87 Mn as ROU asset.
During the year ended March 31, 2021, depreciation of ` 233.47 Mn (year ended March 31, 2020 : ` 228.25 Mn) on Right of use
` 57.50 Mn (year ended March 31, 2020 : ` 70.59 Mn) on Lease liabilities has been charged to statement of profit and loss. Acc

Contractual lease rentals amounting to ` 216.69 Mn (year ended March 31, 2020: ` 237.41 Mn) and Network & other expense o
March 31, 2020 : ` 27.09 Mn) pertaining to the year have not been recognized as expenses. The profit before tax for the year
55.93 Mn (year ended March 31, 2020 : `34.34 Mn) in view of these changes.
The principle portion of the lease payments have been disclosed under cash flow from financing activities. The lease payment
Ind AS 17 - Leases, were earlier reported under cash flow from operating activities. Refer note 3(b) & 10(d) of financial statem
The following is the summary of practical expedients elected on initial application:
1. A single discount rate is applied to a portfolio of leases of similar assets in similar economic environment with a similar e
2. The exemption for not recognizing right-of-use assets and liabilities for leases with less than 12 months of lease term on
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 exclud
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
The incremental borrowing rate applied to lease liabilities as at April 1, 2019 is taken at 8.50%
(N) Segment Reporting
Operating segments are reported in a manner consistent with the internal reporting provided to the Chief Operating Decision
All operating segments’ results are reviewed regularly by the Company’s Managing Director & Chief Executive Officer (MD & C
CODM, to assess the financial performance and position of the Group and makes strategic decisions.
The Group is primarily in the business of internet based service delivery operating in four service verticals through various we
verticals namely recruitment solutions comprising primarily [Link], other recruitment related portals and ancillary servic
[Link] for real estate related services, [Link] for matrimony related services and [Link] for education
(a) Description of segments and principal activities
The CODM evaluates the Group’s performance and allocates resources based on an analysis of various performance indicators
Accordingly, information has been presented along these business segments. The accounting principles used in preparing these
statements are consistently applied to record revenue & expenditure in individual segments. The reportable segments represe
and “99acres” and the “Others”.
1: Recruitment Solutions: This segment consists of Naukri (both India and Gulf business) and all other allied business which to
hiring solutions which are both B2B as well as B2C. Apart from all Other Online business, it also includes Offline headhunting b
2: Real State- 99acres: [Link] derives its revenues from property listings, builders’ and brokers’ branding and visibility
page links and banners servicing real estate developers, builders and brokers.
3: Others: This segment comprises primarily ‘Jeevansathi’ and ‘Shiksha’ verticals since they individually do not meet the qua
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 C
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 th
segment’s revenue earned during the year. To calculate the segment level expenses, certain common expenditures which are
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, certa
expenses which are not directly related to general functioning of business are not allocated to segments.
(O) 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
months or less that are readily convertible to known amount of cash and, which are subject to an insignificant risk of changes
For the purpose of the statement of cash flows, cash and cash equivalents consist of cash and short-term deposits, as defined
bank overdrafts as they are considered an integral part of the group’s cash management
(P) Earnings Per Share (EPS)
(b) Profit before tax
Profit before tax for any segment is calculated by subtracting all the segment’s expenses (excluding taxes) incurred during th
segment’s revenue earned during the year. To calculate the segment level expenses, certain common expenditures which are
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, certa
expenses which are not directly related to general functioning of business are not allocated to segments.
(O) 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
months or less that are readily convertible to known amount of cash and, which are subject to an insignificant risk of changes
For the purpose of the statement of cash flows, cash and cash equivalents consist of cash and short-term deposits, as defined
bank overdrafts as they are considered an integral part of the group’s cash management
(P) Earnings Per Share (EPS)
(i) Basic earnings per share
Basic earnings per share is calculated by dividing:
• the profit for the year attributable to the equity holders of the Company by the weighted average number of equity share
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 a
instruments into equity shares except where the results would be anti dilutive
For the purpose of calculating basic EPS, shares allotted to ESOP trust pursuant to the employee share based payment plan ar
outstanding as on the reporting date till the employees have exercised their right to obtain shares, after fulfilling the requisit

vesting conditions. Till such time, the shares so allotted are considered as dilutive potential equity shares for the purpose of c
(Q) 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 employe
a vehicle for distributing shares to employees under the employee remuneration schemes. The Company allots shares to ESOP
ESOP trust as its extension and shares held by ESOP Trust are treated as treasury shares. Share options exercised during the re
with treasury shares.
The consideration paid for treasury shares including any directly attributable incremental cost is presented as a deduction fro
cancelled, sold or reissued. When treasury shares are sold or reissued subsequently, the amount received is recognized as an i
resulting surplus or deficit on the transaction is transferred to/ from retained earnings.
(R) Financial Instruments
(i) Classification
The Group 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 measured at amortised cost.
The classification depends on the Group’s business model for managing the financial assets and the contractual terms of the c
For assets measured at fair value, gains and losses are recorded either through profit or loss or through other comprehensive i
equity instruments in subsidiaries, associates and jointly control entities these are carried at cost less diminution, if any. How
reduces by virtue of fresh infusion by other investors thereby increasing net book value of investment by the group, such notio
in such circumstances, carrying value of investment may exceed the cost.
The Group reclassifies debt investments when and only when its business model for managing those assets changes.
(ii) Measurement
At initial recognition, the Group measures a financial asset at its fair value plus, in the case of a financial asset not at fair val
transaction costs that are directly attributable to the acquisition of the financial asset. Transaction costs of financial assets c
profit or loss are expensed in profit or loss.
Upon initial recognition, the Company elects to classify irrevocably its equity investments, on instrument to instrument basis,
designated at fair value through OCI that are not held for trading.
Financial assets with embedded derivatives are considered in their entirety when determining whether their cash flows are so
interest.
Debt instruments
Subsequent measurement of debt instruments depends on the Company’s business model for managing the asset and the cash
asset. There are three measurement categories into which the Group 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
that represent solely payments of principal and interest are measured at amortised cost. A gain or loss on a debt investment t
at amortised cost is recognised in profit or loss when the asset is derecognized or impaired. Interest income from these financ
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
assets, where the assets’ cash flow represent solely payments of principal and interest, are measured at fair value through ot
(FVTOCI). Movements in the carrying amount are taken through OCI, except for recognition of impairment gains or losses, inte
exchange gains and losses which are recognised in profit & loss in the same manner as for financial assets measured at amorti
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 va
gain or loss on a debt investment that is subsequently measured at fair value through profit or loss is recognised in profit or lo
statement of profit and loss within other income in the period in which it arises. Interest income from these financial assets is
Equity instruments
that represent solely payments of principal and interest are measured at amortised cost. A gain or loss on a debt investment t
at amortised cost is recognised in profit or loss when the asset is derecognized or impaired. Interest income from these financ
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
assets, where the assets’ cash flow represent solely payments of principal and interest, are measured at fair value through ot
(FVTOCI). Movements in the carrying amount are taken through OCI, except for recognition of impairment gains or losses, inte
exchange gains and losses which are recognised in profit & loss in the same manner as for financial assets measured at amorti
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 va
gain or loss on a debt investment that is subsequently measured at fair value through profit or loss is recognised in profit or lo
statement of profit and loss within other income in the period in which it arises. Interest income from these financial assets is
Equity instruments
The Group subsequently measures all equity investments in scope of Ind AS 109 at fair value, other than investments in equity
associates and jointly controlled entities, which are carried at cost less diminution, if any. However, if the group’s stake redu
by other investors thereby increasing net book value of investment by the group, such notional gain is accounted for, regardle
gain exceeds cost of investment or not.
iii) Impairment of financial assets
The group assesses on a forward looking basis the expected credit losses associated with its assets carried at amortized cost. T
applied depends on whether there has been a significant increase in credit risk. Note 45 details how the group determines wh
significant increase in credit risk.
For trade receivables only, the Group applies the simplified approach permitted by Ind AS 109 Financial Instruments, which re
losses to be recognized from initial recognition of the receivables.
(iv) Derecognition of financial instruments
A financial asset is derecognised only when
• the Group 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
recipients.
Where the Group has transferred an asset, the Group evaluates whether it has transferred substantially all risks and rewards o
asset. In such cases, the financial asset is derecognised. Where the entity has not transferred substantially all risks and rewar
financial asset, the financial asset is not derecognized.
Where the entity has neither transferred a financial asset nor retains substantially all risks and rewards of ownership of the fin
asset is derecognized if the Group has not retained control of the financial asset. Where the Group retains control of the finan
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 Group’s financial liabilities include trade and other payables, loans and borrowings including bank overdrafts. For trade a
within one year from the balance sheet date, the carrying amounts approximate fair value due to short term maturity of thes
A financial liability (or a part of financial liability) is derecognized from the Group’s balance sheet when the obligation specif
discharged or cancelled or expires.
(vi) Income recognition
Interest income
For all debt instruments measured at amortized cost, interest income is recorded using the effective interest rate (EIR). EIR is
discounts the estimated future cash payments or receipts over the expected life of the financial instrument or a shorter perio
gross carrying amount of the financial asset or to the amortized cost of a financial liability. When calculating the effective int
estimates the expected cash flows by considering all the contractual terms of the financial instrument (for example, prepaym
similar options) but does not consider the expected credit losses. Interest income is included in finance income in the stateme
Dividends
Dividends are recognised in profit or loss only when the right to receive the payment is established, it is probable that the eco
with the dividend will flow to the Group, and the amount of the dividend can be measured reliably , which is generally when
dividend.
(S) 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 pro
(T) Cash dividends to equity holders
The Group recognizes a liability to make cash distributions to equity holders of the parent when the distribution is authorised
discretion of the Group, on or before the end of the reporting period but not distributed at the end of the reporting period. A
recognized directly in equity.
(U) Exceptional items
Exceptional items include income or expense that are considered to be part of ordinary activities, however are of such signifi
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 wholly owned subsidiaries at higher or lower than the cost / book value
b) Gain or loss on reduction in control in Jointly controlled entities and associates
c) Write down of investments in subsidiaries, jointly controlled entities and associates which are carried at cost in accordan
recoverable amount, as well as reversals of such write down.
d) Impact of any retrospective amendment requiring any additional charge to profit or loss.
(V) Critical estimates and judgements
The preparation of financial statements requires the use of accounting estimates which, by definition, will seldom equal the a
also needs to exercise judgement in applying the Company’s accounting policies. The estimates and assumptions used in the a
statements are based upon Management’s evaluation of the relevant facts and circumstances as at the date of the financial st
 n is achieved in stages, the acquisition date carrying value of the acquirer’s previously held equity interest in the acquiree is
at the acquisition date. Any gains or losses arising from such remeasurement are recognised in profit or loss or other
appropriate.
equipment
ment are stated at historical cost less accumulated depreciation and accumulated impairment losses, if any. Historical cost
is directly attributable to the acquisition of the items.
uded in the asset’s carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future
ted with the item will flow to the Company and the cost of the item can be measured reliably. The carrying amount of any
as a separate asset is derecognized when replaced. All other repairs and maintenance are recognized in profit or loss during the
they are incurred.

e Group has elected to continue with the carrying value of all of its property, plant and equipment recognized as at April 1, 2015
ous GAAP and use that carrying value as the deemed cost of the property, plant and equipment.
estimated useful lives
n a pro-rata basis on the straight line method over the estimated useful lives of assets, based on internal assessment and
aluation done by the Management experts which are equal to, except in case of Plant and Machinery, Furniture and Fixtures and
is lower than life prescribed under Schedule II to the Companies Act, 2013, in order to reflect the actual usage of the assets.

Estimated useful life (Years)

60
3-6
3-10
3-10
3-5
6
quipment acquired under finance leases and other leasehold improvements are depreciated over the assets’ useful life or over the
ul life and the lease term if there is no reasonable certainty that the Company will obtain ownership at the end of the lease term.
d methods of depreciation are reviewed at the end of each reporting period and adjusted prospectively, if appropriate. An asset’s
n down immediately to its recoverable amount if the asset’s carrying amount is greater than its estimated recoverable amount.
als are determined by comparing net disposal proceeds with carrying amount of the asset. These are included in profit or loss

equal to ` 5,000 are fully depreciated pro-rata from date of acquisition.

stated at cost, net of accumulated impairment loss, if any

f subsidiaries is included in intangible assets. Goodwill is not amortised but it is tested for impairment annually, or more
anges in circumstances indicate that it might be impaired, and is carried at cost less accumulated impairment losses. Gains and
n entity include the carrying amount of goodwill relating to the entity sold.

quired separately are measured on initial recognition at historical cost. The cost of intangible assets acquired in a business
alue at the date of acquisition. Intangibles assets have a finite life and are subsequently carried at cost less any accumulated
ated impairment losses.
te lives are amortised over the useful life and assessed for impairment whenever there is an indication that the intangible asset
ortization period and the amortization method for an intangible asset with a finite useful life are reviewed at least at the end of
anges in the expected useful life or the expected pattern of consumption of future economic benefits embodied in the asset are
amortization period or method, as appropriate, and are treated as changes in accounting estimates. The amortization expense on
te lives is recognized in the statement of profit and loss unless such expenditure forms part of carrying value of another asset.
m derecognition of an intangible asset are measured as the difference between the net disposal proceeds and the carrying amount
nized in the statement of profit or loss when the asset is derecognized.
nd estimated useful lives

Estimated useful life (Years)

5
10
3-6
 5
5
5
han or equal to ` 5,000 are fully amortised pro-rata from date of acquisition.
y
measured initially at cost, including transaction costs. Subsequent to initial recognition, investment properties are stated at cost
ation and accumulated impairment loss, if any.
es investment property using cost based measurement, the fair value of investment property is disclosed in the notes. Fair values
an annual evaluation performed by an accredited external independent valuer applying a Direct Comparison Approach.
estment property over 62 years from the date of original purchase.
derecognised either when they have been disposed of or when they are permanently withdrawn from use and no future economic
heir disposal. The difference between the net disposal proceeds and the carrying amount of the asset is recognised in profit or
ognition.
nancial assets
ssets that have an indefinite useful life are not subject to amortisation and are tested annually for impairment, or more frequently
cumstances indicate that they might be impaired. For other assets, assessment is done at each balance sheet date as to whether
t an asset may be impaired. If any such indication exists or when annual impairment testing for an asset is required, an estimate
t of the asset/cash generating unit is made. Recoverable amount is higher of an asset’s or cash generating unit’s fair value less
alue in use. Value in use is the present value of estimated future cash flows expected to arise from the continuing use of an asset
e end of its useful life. For the purpose of assessing impairment, the recoverable amount is determined for an individual asset,
generate cash inflows that are largely independent of those from other assets or group of assets. The smallest identifiable group of
inflows from continuing use that are largely independent of the cash inflows from other assets or groups of assets, is considered
CGU). An asset or CGU whose carrying value exceeds its recoverable amount is considered impaired and is written down to its
ssment is also done at each balance sheet for possible reversal of an impairment loss recognized for an asset, in prior accounting

eld for sale

ssified as held for sale if their carrying amount will be recovered principally through a sale transaction rather than through
is considered highly probable. The criteria for held for sale is considered to have met only when the assets is available for
ent condition, subject only to terms that are usual and customary for sales of such assets, its sale is highly probable; and it will
ndoned. They are measured at the lower of their carrying amount and fair value less costs to sell.
gnised for any initial or subsequent write-down of the asset to fair value less costs to sell. A gain is recognised for any subsequent
costs to sell of an asset, but not in excess of any cumulative impairment loss previously recognised. A gain or loss not previously
the sale of the non-current asset is recognised at the date of de-recognition.
t depreciated or amortised while they are classified as held for sale.
ed as held for sale are presented separately from the other assets in the balance sheet.

the lower of cost and net realisable value.

each product to its present location and condition are accounted for as follows:
g materials: Lower of cost and net realizable value. However, materials and other items held for use in the production of
n down below cost if the finished products in which they will be incorporated are expected to be sold at or above cost. Cost is
average basis. Customs duty on imported raw materials is treated as part of the cost of the inventories.
d goods: Lower of cost and net realizable value. Cost includes direct materials and labour and a proportion of manufacturing
al operating capacity. Cost is determined on a weighted average.
estimated selling price in the ordinary course of business, less estimated costs of completion and the estimated costs necessary

nslations
ntation currency
nsolidated financial statements of the Group are measured using the currency of the primary economic environment in which the
tional currency’) i.e., Indian Rupee (INR) which is its presentation currency as well.
ances

foreign currency transactions are recorded by applying to the foreign currency amount the spot exchange rate between the
he foreign currency at the date of the transactions.
ix B to Ind AS 21 – Foreign Currency Transactions and Advance Considerations which clarifies the date of transaction for the
e exchange rate to use on initial recognition of the related asset, expense or income when an entity has received or paid advance
currency.

oreign currency monetary items are translated using the closing rate and non-monetary items that are measured in terms of
currency are translated using the exchange rate at the date of the initial transaction.
arising on the settlement of monetary items or on translating monetary items at rates different from those at which they were
nition during the year or in previous financial statements are recognised in profit or loss in the year in which they arise.
 each product to its present location and condition are accounted for as follows:
g materials: Lower of cost and net realizable value. However, materials and other items held for use in the production of
n down below cost if the finished products in which they will be incorporated are expected to be sold at or above cost. Cost is
average basis. Customs duty on imported raw materials is treated as part of the cost of the inventories.
d goods: Lower of cost and net realizable value. Cost includes direct materials and labour and a proportion of manufacturing
al operating capacity. Cost is determined on a weighted average.
estimated selling price in the ordinary course of business, less estimated costs of completion and the estimated costs necessary

nslations
ntation currency
nsolidated financial statements of the Group are measured using the currency of the primary economic environment in which the
tional currency’) i.e., Indian Rupee (INR) which is its presentation currency as well.
ances

foreign currency transactions are recorded by applying to the foreign currency amount the spot exchange rate between the
he foreign currency at the date of the transactions.
ix B to Ind AS 21 – Foreign Currency Transactions and Advance Considerations which clarifies the date of transaction for the
e exchange rate to use on initial recognition of the related asset, expense or income when an entity has received or paid advance
currency.

oreign currency monetary items are translated using the closing rate and non-monetary items that are measured in terms of
currency are translated using the exchange rate at the date of the initial transaction.
arising on the settlement of monetary items or on translating monetary items at rates different from those at which they were
nition during the year or in previous financial statements are recognised in profit or loss in the year in which they arise.

erations
of foreign operations are translated using the principles and procedures mentioned above, since these businesses are carried on as
Company’s operations.

115 “Revenue from Contracts with Customers” using the modified retrospective approach.
n transfer of control of promised services to customers in an amount that reflects the consideration we expect to receive in
es (net of goods and services tax).
significantly from the following sources viz.
s through its career web site, such as [Link], [Link] & [Link]:-
rily in the form of fees, which is recognized prorata over the subscription / advertising / service agreement, usually ranging
onths.
, [Link], Real Estate website, [Link] and Education classified website, [Link]:-
marily the form of subscription fees, which is recognized over the period of subscription / advertising / service agreement, usually
welve months. The revenue is recognized on principal to principal basis and recognized gross of agency/commission fees, as
[Link].
ision, Quadrangle:-
form of fees, for placements at various levels in a client’s organization. Revenue is booked on the successful completion of the
ity.
Service:-
Sale Services is earned in the form of fees and is recognized on completion of the related service.
ivision
operty bookings placed with builders / developers is accrued once the related services have been rendered by the Group.
dering of the services mentioned in (a) & (b) above where performance obligations are satisfied over time and where there is no
bility or collectability of consideration, is recognised ratably over the period of in which services are rendered (subscription
he services mentioned in (c) to (e) above are recognised in the accounting period in which the services are rendered. When there
rement or ultimate collectability, revenue recognition is postponed until such uncertainty is resolved.
ve, the unaccrued amounts are reflected in the Balance sheet as Income received in advance (deferred sales revenue).
of practical expedient recognised the incremental costs of obtaining a contract as an expense when incurred, since the
asset that the entity otherwise would have recognised is generally one year or less.
r employee benefits
s
luding other monetary and non-monetary benefits that are expected to be settled wholly within 12 months after the end of the
yees render the related service are recognised in respect of employees’ services up to the end of the reporting period and are
expected to be paid when the liabilities are settled. The liabilities are presented as current employee benefit obligations in the

ployee benefit obligations

eave are not expected to be settled wholly within 12 months after the end of the period in which the employees render the
therefore measured as the present value of expected future payments to be made in respect of services provided by employees
ing period using the projected unit credit method. The benefits are discounted using the market yields at the end of the reporting
proximating to the terms of the related obligation. Remeasurements as a result of experience adjustments and changes in
recognised in profit or loss.
nted as current liabilities in the balance sheet if the entity does not have an unconditional right to defer settlement for at least
eporting period, regardless of when the actual settlement is expected to occur.
igations
llowing post-employment schemes:
plans - providentfund
- gratuity plans
expected to be paid when the liabilities are settled. The liabilities are presented as current employee benefit obligations in the

ployee benefit obligations

eave are not expected to be settled wholly within 12 months after the end of the period in which the employees render the
therefore measured as the present value of expected future payments to be made in respect of services provided by employees
ing period using the projected unit credit method. The benefits are discounted using the market yields at the end of the reporting
proximating to the terms of the related obligation. Remeasurements as a result of experience adjustments and changes in
recognised in profit or loss.
nted as current liabilities in the balance sheet if the entity does not have an unconditional right to defer settlement for at least
eporting period, regardless of when the actual settlement is expected to occur.
igations
llowing post-employment schemes:
plans - providentfund
- gratuity plans
plans
ontribution plan for the post-employment benefits namely Provident Fund which is administered through the Regional Provident
e contributions towards such fund are recognised as employee benefits expense and charged to the Statement of Profit and Loss
roup does not carry any further obligations with respect to this, apart from contributions made on a monthly basis.

nefit plan, namely gratuity for eligible employees in accordance with the Payment of Gratuity Act, 1972 the liability for which is
f an actuarial valuation (using the Projected Unit Credit method) at the end of each year. The Gratuity Fund is recognised by the
d is administered through Life Insurance Corporation of India under its Group Gratuity Scheme.

defined benefit obligation denominated in INR is determined by discounting the estimated future cash outflows by reference to
f the reporting period on government bonds that have terms approximating to the tenor of the related obligation. The liability or
lance sheet in respect of gratuity is the present value of the defined benefit obligation at the end of the reporting period less the
The net interest cost is calculated by applying the discount rate to the net balance of the defined benefit obligation and the fair
cost is included in employee benefit expense in the statement of profit and loss.
et defined liability, comprising of actuarial gains and losses, return on plan assets (excluding amounts included in net interest on
ability) and any change in the effect of asset ceiling (excluding amounts included in net interest on the net defined benefit
mmediately in the balance sheet with a corresponding debit or credit to retained earnings through Other Comprehensive Income
ch they occur. Remeasurements are not reclassified to profit or loss in subsequent periods.
ue of the defined benefit obligation resulting from plan amendments or curtailments are recognised immediately in the profit or

bility and an expense for bonuses. The Group recognises a provision where contractually obliged or where there is a past practice
ctive obligation.

payable when employment is terminated by the Company before the normal retirement date, or when an employee accepts
xchange for these benefits. The Company recognises termination benefits at the earlier of the following dates: (a) when the
thdraw the offer of those benefits; and (b) when the entity recognises costs for a restructuring that is within the scope of Ind AS
ent of terminations benefits. In the case of an offer made to encourage voluntary redundancy, the termination benefits are
mber of employees expected to accept the offer. Benefits falling due more than 12 months after the end of the reporting period
value.
ts
n benefits are provided to employees via the Info Edge Limited Employee Option Plan and share-appreciation rights. These are

ranted under the Info Edge Employees’ Stock Option Scheme is recognised as an employee benefits expense with a corresponding
tal amount to be expensed is determined by reference to the grant date fair value of the options granted:
performance conditions (e.g., the entity’s share price)
of any service and non-market performance vesting conditions (e.g. profitability, sales growth targets and remaining an employee
ied time period), and
of any non-vesting conditions (e.g. the requirement for employees to save or holdings shares for a specific period of time).
nised over the vesting period, which is the period over which all of the specified vesting conditions are to be satisfied. At the end
revises its estimates of the number of options that are expected to vest based on the non-market vesting and service conditions.
f the revision to original estimates, if any, in profit or loss, with a corresponding adjustment to equity.

granted are considered to be towards equity settled share based transactions and as per IND AS 102, cost of such options are
at the grant date. Company’s share appreciation rights are recognised as employee benefit expense over the relevant service

r credit for the period is the tax payable on the current period’s taxable income based on the applicable income tax rate for each
hanges in deferred tax assets and liabilities attributable to temporary differences and to unused tax losses.
calculated on the basis of the tax rates and the tax laws enacted or substantively enacted at the reporting date. Management
itions taken in tax returns with respect to situations in which applicable tax regulations is subject to interpretation. It establishes
als of provisions made in earlier years, where appropriate, on the basis of amounts expected to be paid to / received from the tax
f the revision to original estimates, if any, in profit or loss, with a corresponding adjustment to equity.

granted are considered to be towards equity settled share based transactions and as per IND AS 102, cost of such options are
at the grant date. Company’s share appreciation rights are recognised as employee benefit expense over the relevant service

r credit for the period is the tax payable on the current period’s taxable income based on the applicable income tax rate for each
hanges in deferred tax assets and liabilities attributable to temporary differences and to unused tax losses.
calculated on the basis of the tax rates and the tax laws enacted or substantively enacted at the reporting date. Management
itions taken in tax returns with respect to situations in which applicable tax regulations is subject to interpretation. It establishes
als of provisions made in earlier years, where appropriate, on the basis of amounts expected to be paid to / received from the tax

for all the temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the
ect to the consideration of prudence in respect of deferred tax assets. Deferred tax assets are recognized and carried forward
sufficient future taxable amounts will be available against which such deferred tax asset can be realised. Deferred tax assets and
ing the tax rates and tax laws that have been enacted or substantively enacted by the end of the reporting period and are
he related deferred income tax asset is realized or the deferred income tax liability is settled. The carrying amount of deferred
each Balance Sheet date and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to
ferred tax asset to be utilised. Unrecognised deferred tax assets are re-assessed at each reporting date and are recognised to the
probable that future taxable profits will allow the deferred tax asset to be recovered.
e not recognised for temporary differences between the carrying amount and tax bases of investments in subsidiaries, associates
gements where the company is able to control the timing of the reversal of the temporary differences and it is probable that the
e in the foreseeable future.
t recognised for temporary differences between the carrying amount and tax bases of investments in subsidiaries, associates and
ents where it is not probable that the differences will reverse in the foreseeable future and taxable profit will not be available
ary difference can be utilised.

eated on notional gain on loss of stake in the investment if and when it is probable that the group will liquidate such investment,

s recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly
tax is also recognised in other comprehensive income or directly in equity, respectively.
abilities are offset if a legally enforceable right exists to set off current tax assets and liabilities and the deferred tax balances
e authority. Current tax assets and liabilities are offset where the entity has a legally enforceable right to offset and intends
asis, or to realize the asset and settle the liability simultaneously.

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

r of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of
provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations

alue of money is material, provisions are measured at the present value of management’s best estimate of the expenditure
sent obligation at the end of the reporting period. The discount rate used to determine the present value is a pre-tax rate that
to the liability. The increase in the provision due to the passage of time is recognized as finance cost.
perating leases
ether a contract contains a lease, at inception of a contract. A contract is, or contains, a lease if the contract conveys the right to
tified asset for a period of time in exchange of consideration.
act conveys the right to control the use of an identified asset, the Company assesses whether:
the use of an identified asset,
stantially all of the economic benefits from use of the asset through the period of lease
right to direct the use of asset
cement of the lease, the Company recognises a right of use asset and a corresponding lease liability for all lease arrangements in
t for the leases with a term of twelve month or less (short term leases). For these short term leases, the Company recognises the
ating expense on a straight line basis over the period of lease.
ts includes the options to extend or terminate the lease before the end of the lease term. ROU assets and lease liabilities includes
easonably certain that they will be exercised.
e initially recognized at cost, which comprises the initial amount of the lease liability adjusted for any lease payments made at or
nt date of the lease plus any initial direct costs less any lease incentives. They are subsequently measured at cost less
and impairment losses.
preciated from the commencement date on a straight-line basis over the lease term. The lease liability is initially measured at
sent value of the future lease payments. Lease liabilities are remeasured with a corresponding adjustment to the related right of
changes its assessment if whether it will exercise an extension or a termination option.
nciples for the recognition, measurement, presentation and disclosure of leases and requires lessees to account for all leases
sheet model.
set have been separately presented in the Balance Sheet and lease payments have been classified as financing cash flows.

Affairs on 30 March 2019 notified the new leasing standard, viz., Ind AS 116 Leases. Ind AS 116 is applicable for the financial year
ril 2019 for all Ind AS companies. It replaces current guidance under Ind AS 17 Leases.
2019 the Group adopted Ind AS 116 and applied the standard to all lease contracts existing on April 01, 2019 using the modified
d has taken the cumulative adjustment to right of use of assets, on the date of initial application. Consequently, the Group
y at the present value of the lease payments discounted at the incremental borrowing rate at the date of initial application.
periods have not retrospectively adjusted and therefore will continue to be reported under previously adopted accounting policy
sent value of the future lease payments. Lease liabilities are remeasured with a corresponding adjustment to the related right of
changes its assessment if whether it will exercise an extension or a termination option.
nciples for the recognition, measurement, presentation and disclosure of leases and requires lessees to account for all leases
sheet model.
set have been separately presented in the Balance Sheet and lease payments have been classified as financing cash flows.

Affairs on 30 March 2019 notified the new leasing standard, viz., Ind AS 116 Leases. Ind AS 116 is applicable for the financial year
ril 2019 for all Ind AS companies. It replaces current guidance under Ind AS 17 Leases.
2019 the Group adopted Ind AS 116 and applied the standard to all lease contracts existing on April 01, 2019 using the modified
d has taken the cumulative adjustment to right of use of assets, on the date of initial application. Consequently, the Group
y at the present value of the lease payments discounted at the incremental borrowing rate at the date of initial application.
periods have not retrospectively adjusted and therefore will continue to be reported under previously adopted accounting policy
te 2.2(M)-Significant accounting policies-Leases in the Annual report of the Company for the year ended March 31, 2019.
ecognised right-of-use assets and lease liabilities for those leases previously classified as operating leases, except for short-term
alue assets. The Group recognised a lease liability measured at the present value of the remaining lease payments. The right-of-
its carrying amount as if the standard had been applied since the commencement of the lease, but discounted using the lessee’s
e as at April 1, 2019. The right-of-use assets were recognised based on the amount equal to the lease liabilities, adjusted for any
ed lease payments previously recognised. Lease liabilities were recognised based on the present value of the remaining lease
ng the incremental borrowing rate at the date of initial application.
Ind AS 116 during current year ended and previous year ended March 31, 2020 is as follows:
Right of use assets for ` 869.76 Mn and Lease liabilities of ` 869.76 Mn as at April 1, 2019 i.e., transition date. The lease
32.22 Mn and prepaid rent arising due to discounting of security deposit of ` 32.24 Mn has been adjusted with the Right of use
so reclassified its leasehold land amounting to ` 135.87 Mn as ROU asset.
rch 31, 2021, depreciation of ` 233.47 Mn (year ended March 31, 2020 : ` 228.25 Mn) on Right of use assets and interest expense of
arch 31, 2020 : ` 70.59 Mn) on Lease liabilities has been charged to statement of profit and loss. Accordingly,

amounting to ` 216.69 Mn (year ended March 31, 2020: ` 237.41 Mn) and Network & other expense of ` 18.35 Mn (year ended
Mn) pertaining to the year have not been recognized as expenses. The profit before tax for the year is lower by `
ch 31, 2020 : `34.34 Mn) in view of these changes.
he lease payments have been disclosed under cash flow from financing activities. The lease payments for operating leases as per
arlier reported under cash flow from operating activities. Refer note 3(b) & 10(d) of financial statement for detailed disclosure.
ary of practical expedients elected on initial application:
e is applied to a portfolio of leases of similar assets in similar economic environment with a similar end date.
t recognizing right-of-use assets and liabilities for leases with less than 12 months of lease term on the date of initial application

s from the measurement of the right-of-use asset at the date of initial application have been excluded.
ermining the lease term where the contract contains options to extend or terminate the lease.
19, the rent concessions are not considered as a modification to lease, and the rent concessions are considered as other income.
g rate applied to lease liabilities as at April 1, 2019 is taken at 8.50%

eported in a manner consistent with the internal reporting provided to the Chief Operating Decision Maker (CODM).
sults are reviewed regularly by the Company’s Managing Director & Chief Executive Officer (MD & CEO) who been identified as the
cial performance and position of the Group and makes strategic decisions.
he business of internet based service delivery operating in four service verticals through various web portals in respective
ent solutions comprising primarily [Link], other recruitment related portals and ancillary services related to recruitment,
e related services, [Link] for matrimony related services and [Link] for education related services.
ts and principal activities
Group’s performance and allocates resources based on an analysis of various performance indicators by business segments.
has been presented along these business segments. The accounting principles used in preparing these consolidated financial
ly applied to record revenue & expenditure in individual segments. The reportable segments represent “Recruitment Solutions”
thers”.
: This segment consists of Naukri (both India and Gulf business) and all other allied business which together provides complete
both B2B as well as B2C. Apart from all Other Online business, it also includes Offline headhunting business ‘Quadrangle’.
[Link] derives its revenues from property listings, builders’ and brokers’ branding and visibility through micro- sites, home
vicing real estate developers, builders and brokers.
omprises primarily ‘Jeevansathi’ and ‘Shiksha’ verticals since they individually do not meet the qualifying criteria for reportable
.
a measure of profit before tax to assess the performance of the operating segments. However, the CODM also receives information
nue and assets on a monthly basis.

egment is calculated by subtracting all the segment’s expenses (excluding taxes) incurred during the year from the respective
during the year. To calculate the segment level expenses, certain common expenditures which are incurred for the entity as a
tly mapped to a single segment are allocated basis best management estimates to all the segments.
cated to segments as this type of activity is driven by the central treasury function. Similarly, certain costs including corporate
rectly related to general functioning of business are not allocated to segments.
alents
in the balance sheet comprise cash on hand, amount at banks and other short-term deposits with an original maturity of three
adily convertible to known amount of cash and, which are subject to an insignificant risk of changes in value.
tement of cash flows, cash and cash equivalents consist of cash and short-term deposits, as defined above, net of outstanding
e considered an integral part of the group’s cash management
EPS)
 egment is calculated by subtracting all the segment’s expenses (excluding taxes) incurred during the year from the respective
during the year. To calculate the segment level expenses, certain common expenditures which are incurred for the entity as a
tly mapped to a single segment are allocated basis best management estimates to all the segments.
cated to segments as this type of activity is driven by the central treasury function. Similarly, certain costs including corporate
rectly related to general functioning of business are not allocated to segments.
alents
in the balance sheet comprise cash on hand, amount at banks and other short-term deposits with an original maturity of three
adily convertible to known amount of cash and, which are subject to an insignificant risk of changes in value.
tement of cash flows, cash and cash equivalents consist of cash and short-term deposits, as defined above, net of outstanding
e considered an integral part of the group’s cash management
EPS)
re
calculated by dividing:
r attributable to the equity holders of the Company by the weighted average number of equity shares outstanding during the
or bonus elements in equity shares issued during the year
share
adjusts the figures used in the determination of basic earnings per share to take into account:
number of additional equity shares that would have been outstanding assuming the conversion of all dilutive potential
ares except where the results would be anti dilutive
ting basic EPS, shares allotted to ESOP trust pursuant to the employee share based payment plan are not included in the shares
orting date till the employees have exercised their right to obtain shares, after fulfilling the requisite

ch time, the shares so allotted are considered as dilutive potential equity shares for the purpose of calculating diluted EPS .
res held by the ESOP Trust)
an Employee Stock option Plan Trust (ESOP Trust) for providing share-based payment to its employees. The Company uses Trust as
hares to employees under the employee remuneration schemes. The Company allots shares to ESOP Trust. The Company treats
n and shares held by ESOP Trust are treated as treasury shares. Share options exercised during the reporting period are satisfied

treasury shares including any directly attributable incremental cost is presented as a deduction from total equity, until they are
d. When treasury shares are sold or reissued subsequently, the amount received is recognized as an increase in equity, and the
on the transaction is transferred to/ from retained earnings.
s

nancial assets in the following measurement categories:

subsequently at fair value through other comprehensive income,
subsequently at fair value through profit or loss, and
mortised cost.
on the Group’s business model for managing the financial assets and the contractual terms of the cash flows.
r value, gains and losses are recorded either through profit or loss or through other comprehensive income. For investments in
idiaries, associates and jointly control entities these are carried at cost less diminution, if any. However, if the group’s stake
infusion by other investors thereby increasing net book value of investment by the group, such notional gain is accounted for, and
rying value of investment may exceed the cost.
bt investments when and only when its business model for managing those assets changes.

Group measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss,
directly attributable to the acquisition of the financial asset. Transaction costs of financial assets carried at fair value through
d in profit or loss.
he Company elects to classify irrevocably its equity investments, on instrument to instrument basis, as equity instruments
hrough OCI that are not held for trading.
edded derivatives are considered in their entirety when determining whether their cash flows are solely payment of principal and

of debt instruments depends on the Company’s business model for managing the asset and the cash flow characteristics of the
asurement categories into which the Group has classified its debt instruments:
ts that are held for collection of contractual cash flows and where the contractual terms give rise on specified dates to cash flows
ments of principal and interest are measured at amortised cost. A gain or loss on a debt investment that is subsequently measured
nised in profit or loss when the asset is derecognized or impaired. Interest income from these financial assets is included in
effective interest rate method.
ther comprehensive income (FVTOCI) : Assets that are held for collection of contractual cash flows and for selling the financial
cash flow represent solely payments of principal and interest, are measured at fair value through other comprehensive income
he carrying amount are taken through OCI, except for recognition of impairment gains or losses, interest revenue and foreign
which are recognised in profit & loss in the same manner as for financial assets measured at amortised cost. The remaining fair
sed in OCI.
rofit or loss (FVTPL): Assets that do not meet the criteria for amortised cost are measured at fair value through profit or loss. A
stment that is subsequently measured at fair value through profit or loss is recognised in profit or loss and presented net in the
ss within other income in the period in which it arises. Interest income from these financial assets is included in other income.
ments of principal and interest are measured at amortised cost. A gain or loss on a debt investment that is subsequently measured
nised in profit or loss when the asset is derecognized or impaired. Interest income from these financial assets is included in
effective interest rate method.
ther comprehensive income (FVTOCI) : Assets that are held for collection of contractual cash flows and for selling the financial
cash flow represent solely payments of principal and interest, are measured at fair value through other comprehensive income
he carrying amount are taken through OCI, except for recognition of impairment gains or losses, interest revenue and foreign
which are recognised in profit & loss in the same manner as for financial assets measured at amortised cost. The remaining fair
sed in OCI.
rofit or loss (FVTPL): Assets that do not meet the criteria for amortised cost are measured at fair value through profit or loss. A
stment that is subsequently measured at fair value through profit or loss is recognised in profit or loss and presented net in the
ss within other income in the period in which it arises. Interest income from these financial assets is included in other income.

measures all equity investments in scope of Ind AS 109 at fair value, other than investments in equity instruments in subsidiaries,
trolled entities, which are carried at cost less diminution, if any. However, if the group’s stake reduces by virtue of fresh infusion
increasing net book value of investment by the group, such notional gain is accounted for, regardless of the fact whether such
tment or not.
ial assets
rward looking basis the expected credit losses associated with its assets carried at amortized cost. The impairment methodology
er there has been a significant increase in credit risk. Note 45 details how the group determines whether there has been a
dit risk.
, the Group applies the simplified approach permitted by Ind AS 109 Financial Instruments, which requires expected lifetime
om initial recognition of the receivables.
ncial instruments
gnised only when
rred the rights to receive cash flows from the financial asset or

al rights to receive the cash flows of the financial asset, but assumes a contractual obligation to pay the cash flows to one or more

sferred an asset, the Group evaluates whether it has transferred substantially all risks and rewards of ownership of the financial
nancial asset is derecognised. Where the entity has not transferred substantially all risks and rewards of ownership of the
ial asset is not derecognized.
her transferred a financial asset nor retains substantially all risks and rewards of ownership of the financial asset, the financial
e Group has not retained control of the financial asset. Where the Group retains control of the financial asset, the asset is
d to the extent of continuing involvement in the financial asset.

assified, at initial recognition, as loans and borrowings, payables, as appropriate.

lities include trade and other payables, loans and borrowings including bank overdrafts. For trade and other payables maturing
balance sheet date, the carrying amounts approximate fair value due to short term maturity of these instruments.
art of financial liability) is derecognized from the Group’s balance sheet when the obligation specified in the contract is
expires.

measured at amortized cost, interest income is recorded using the effective interest rate (EIR). EIR is the rate that exactly
uture cash payments or receipts over the expected life of the financial instrument or a shorter period, where appropriate, to the
he financial asset or to the amortized cost of a financial liability. When calculating the effective interest rate, the company
ash flows by considering all the contractual terms of the financial instrument (for example, prepayment, extension, call and
not consider the expected credit losses. Interest income is included in finance income in the statement of profit and loss

n profit or loss only when the right to receive the payment is established, it is probable that the economic benefits associated
w to the Group, and the amount of the dividend can be measured reliably , which is generally when the shareholders approve the

d as equity.
attributable to the issue of new shares are shown in equity as a deduction, net of tax, from the proceeds.
quity holders
ability to make cash distributions to equity holders of the parent when the distribution is authorised and no longer at the
n or before the end of the reporting period but not distributed at the end of the reporting period. A corresponding amount is
ity.

income or expense that are considered to be part of ordinary activities, however are of such significance and nature that
es the user of the financial statements to understand the impact in a more meaningful manner.
as exceptional items -
al of investments to wholly owned subsidiaries at higher or lower than the cost / book value
tion in control in Jointly controlled entities and associates
ments in subsidiaries, jointly controlled entities and associates which are carried at cost in accordance with IND AS 27 to
ell as reversals of such write down.
ective amendment requiring any additional charge to profit or loss.
d judgements
al statements requires the use of accounting estimates which, by definition, will seldom equal the actual results. Management
gement in applying the Company’s accounting policies. The estimates and assumptions used in the accompanying financial
n Management’s evaluation of the relevant facts and circumstances as at the date of the financial statements. Actual results could
 3. (a)

Building Leasehold Computers Plant and Furniture Office Leasehold

Particulars improvements machinery and equipment Land
fixtures

Gross carrying amount at cost

As at April 01, 2019 74.30 207.67 673.52 42.46 65.76 71.91 135.87
Additions - 13.91 205.13 14.64 10.50 7.46 -
Acquisition of subsidiary - - 3.06 0.66 3.25 1.05 -
Deletion due to disposal of - 8.36 52.36 2.95 0.86 5.65 -
subsidiary
Reclassified on account of - - - - - - 135.87
adoption of Ind AS 116
Disposals - 6.29 65.39 1.63 1.83 3.14 -
As at March 31, 2020 74.30 206.93 763.96 53.18 76.82 71.63 -

Accumulated depreciation

As at April 01, 2019 5.35 183.19 472.09 14.45 41.10 53.19 7.81
Reclassified on account of - - - - - - 7.81
adoption of Ind AS 116
Additions on acquisition of a - - 1.61 0.09 0.46 0.41 -
subsidiary
Depreciation charged during 1.34 15.52 121.26 5.95 12.78 10.53 -
the year
Deletions due to disposal of - 7.79 28.45 1.58 0.57 4.38 -
subsidiary
Disposals - 3.31 64.09 0.62 1.31 2.76 -
As at March 31, 2020 6.69 187.61 502.42 18.29 52.46 56.99 -

Net carrying amount as at 67.61 19.32 261.54 34.89 24.36 14.64 -

March 31, 2020

Gross carrying amount at cost

As at April 01, 2020 74.30 206.93 763.96 53.18 76.82 71.63 -
Additions - - 58.00 2.21 1.45 1.57 -
Disposals - - 3.26 - - 0.21 -
As at March 31, 2021 74.30 206.93 818.70 55.39 78.27 72.99 -
Accumulated depreciation As
at April 01, 2020 Depreciation
charged during the year 6.69 187.61 502.42 18.29 52.46 56.99 -
Disposals 1.34 6.64 142.56 5.89 10.45 7.09 -
- - 3.00 - - 0.18 -

As at March 31, 2021 8.03 194.25 641.98 24.18 62.91 63.90 -

Net carrying amount as at 66.27 12.68 176.72 31.21 15.36 9.09 -

March 31, 2021
Note :
a) Refer Note 10(a) for information on property, plant and equipment pledged/hypothecated as security by the Group.
 3. (a) Property, plant & equipment
Amount (`Mn)
Vehicles Total

34.04 1,305.53
3.58 255.22
- 8.02
- 70.18

- 135.87

3.95 82.23
33.67 1,280.49

14.04 791.22
- 7.81

- 2.57

5.43 172.81

- 42.77

2.72 74.81
16.75 841.21

16.92 439.28

33.67 1,280.49
- 63.23
5.65 9.12
28.02 1,334.60

16.75 841.21
4.95 178.92
4.66 7.84

17.04 1,012.29

10.98 322.31

cated as security by the Group.

 Building Computers Leasehold Vehicles
Particulars Land

Gross carrying amount

As at April 1, 2019* 830.93 31.93 - 6.90

Reclassified on account of adoption of Ind AS 116 - - 135.87 -
Addition 184.31 - - -
Deletion due to disposal of subsidiary 77.30 - - -
Disposals 21.27 - - -
As at March 31, 2020 916.67 31.93 135.87 6.90

Accumulated depreciation

As at April 1, 2019* - - - -
Reclassified on account of adoption of Ind AS 116 - - 7.81 -
Depreciation charged during the year 211.20 14.19 1.96 2.86
Deletion due to disposal of subsidiary 8.05 - - -
Disposals 4.06 - - -
As at March 31, 2020 199.09 14.19 9.77 2.86

Net carrying amount as at March 31,2020 717.58 17.74 126.10 4.04

Gross carrying amount

As at April 1, 2020 916.67 31.93 135.87 6.90

Addition 107.99 - - -
Disposals 25.06 - - -
As at March 31, 2021 999.60 31.93 135.87 6.90
Accumulated depreciation
As at April 1, 2020
Depreciation charged during the year Disposals 199.09 14.19 9.77 2.86
216.42 14.19 1.95 2.86
10.49 - - -

As at March 31, 2021 405.02 28.38 11.72 5.72

Net carrying amount as at March 31, 2021 594.58 3.55 124.15 1.18
* As at April 01, 2019 the Group adopted Ind AS 116 and applied the standard to all lease contracts existing on April 01, 2019
retrospective approach and has taken the cumulative adjustment to right of use of assets, on the date of initial application,
 3. (b) Right of use asset
Amount (`Mn)
Total

869.76
135.87
184.31
77.30
21.27
1,091.37

-
7.81
230.21
8.05
4.06
225.91

865.46

1,091.37
107.99
25.06
1,174.30

225.91
235.42
10.49

450.84

723.46
existing on April 01, 2019 using the modified
date of initial application, refer note 2.2(M).
 Enterprise Other Brand Technology Customer Total Intangible
resource software platform Contracts & assets under
Particulars
planning licenses Relationship development
software

Gross carrying amount at cost

As at April 01, 2019 2.04 128.59 - - - 130.63 20.00

Additions made due to subsidiary - - 155.50 78.30 22.10 255.90 -
Additions - 21.79 - - - 21.79 -
Deletion due to disposal of subsidiary - 0.32 - - - 0.32 -
As at March 31, 2020 2.04 150.06 155.50 78.30 22.10 408.00 20.00

Accumulated amortisation

As at April 01, 2019 2.03 79.65 - - - 81.68 -

Amortisation charged during the year - 30.08 23.33 11.75 3.32 68.48 -
Deletion due to disposal of subsidiary - 0.31 - - - 0.31 -
Provision for Impairment loss (refer note - - - - - - 20.00
20)
Provision for Impairment loss (refer note 36 - - - - - - -
) at March 31, 2020
As 2.03 109.42 23.33 11.75 3.32 149.85 20.00

Net carrying amount as at March 31, 2020 0.01 40.64 132.17 66.55 18.78 258.15 -

Gross carrying amount at cost

As at April 01, 2020 2.04 150.06 155.50 78.30 22.10 408.00 20.00
Additions - 24.78 - - - 24.78 -
As at March 31, 2021 2.04 174.84 155.50 78.30 22.10 432.78 20.00

Accumulated amortisation & impairment

As at April 01, 2020 2.03 109.42 23.33 11.75 3.32 149.85 20.00
Amortisation charged during the year - 28.50 31.10 15.66 4.42 79.68 -
As at March 31, 2021 2.03 137.92 54.43 27.41 7.74 229.53 20.00

Net carrying amount as at March 31, 2021 0.01 36.92 101.07 50.89 14.36 203.25 -
3

March 31, 2021

Gross carrying amount at cost
Opening gross carrying amount 299.06
Addition during the year -
Closing gross carrying amount (A) 299.06
Accumulated depreciation
Opening accumulated depreciation 36.06
Depreciation charged during the year 5.12
Provision for Impairment loss (refer note 20) -
Closing accumulated depreciation (B) 41.18
Net carrying amount (A)-(B) 257.88
Fair value Amount (`Mn
March 31, 2021
Investment property 257.88
Estimation of fair value
The Group obtains independent valuations for its investment property at least annually. The fair value of the above investm
determined using the direct comparison approach which is based on comparison with similar properties that have actually b
transactions or are offered for sale in the related market. However, there is limited transacted/quoted investments of simil
and the value of the subject land parcel has been estimated after taking into consideration the premium/discount for locati
 3. (c) Intangible assets
Amount (`Mn)
Intangible Goodwill
assets under
development

20.00 421.92
- 532.66
- 64.40
- -
20.00 1,018.98

- 384.97
- -
- -
20.00
- 36.95
20.00 421.92

- 597.06

20.00 1,018.98
- -
20.00 1,018.98

20.00 421.92
- -
20.00 421.92

- 597.06
3. (d) Investment property
Amount (`Mn)
March 31,
2020
299.06
-
299.06

18.58
5.91
11.57
36.06
263.00
Amount (`Mn)
March 31,
2020
263.00
r value of the above investment property has been
operties that have actually been sold in an arms length
/quoted investments of similar comparable land parcels
premium/discount for location, zoning, size, access, etc.
 (a) Non current investments
Particulars As at March 31, 2021 As at March 31, 2020
Number of Face Value (`Mn) (`Mn) Number of Face Value
Shares per share Shares per share
(`) (`)
Investment in unquoted instruments
measured
at FVTPL
Investments in Equity instruments (fully paid
up)
Dotpe Private Limited 10 10 0.76 10 10
Equity Shares of face value ` 10 fully paid with
share premium of ` 76,356 per share
Add: Gain on measurement through FVTPL 1.63
Bulbulive Shopping Network Pte. Ltd. 416 10 10.00 - -
Equity Shares at a price of USD 320.51 per
share
Sub-total (A) 12.39

Investments in Preference instruments (fully

paid up)
Dotpe Private Limited 3,934 10 719.96 1,354 10
0.01%Cumulative Compulsorily Convertible
Participatory Preference Shares (CCCPS) of face
value ` 10 with share premium of ` 238,966
(March 2020 ` 76,356) per share
Add: Gain on measurement through FVTPL 220.17
Qyuki Digital Media Private Limited 916,356 10 180.00 916,356 10
0.01%Compulsory Convertible Preference
Shares
(CCPS) of face value ` 10 with share premium
of
` 186.43 per share
Fanbuff Esports India Private Limited 3,077 10 35.00 - -
0.01%Compulsory Convertible Preference
Shares
(CCPS) of face value ` 10 with share premium
of
` 11,364.70 per share
Rusk Media Private Limited 2,779 10 35.01 - -
0.01%Compulsory Convertible Preference
Shares
(CCPS) of face value ` 10 with share premium
of
` 12,587 per share
Intellihealth Solutions Private Limited 24,980 10 36.94 - -
0.01%Compulsory Convertible Preference
Shares
(CCPS) of face value ` 10 with share premium
of
` 1,468.79 per share
Bulbulive Shopping Network Pte. Ltd. 2,002 10 469.76 - -
Series A1 Shares at a price of USD 3,095.96 per
share
Polymerize Pte. Ltd. 30,382 37.49 - -
0.0001% Seed Series II Preference Shares at a
price of USD 16.46 per share
As at March 31, 2020
(`Mn) (`Mn)

0.76

-
-

0.76

103.40

-
180.00

-
Particulars As at March 31, 2021 As at March 31, 2020
Number of Face Value (`Mn) (`Mn) Number of Face Value
Shares per share Shares per share
(`) (`)
Kino Inc. 10,18,675 USD 0.00 44.98 - -
Series Seed-1 Preferred Stock of face value of
USD 0.0001 with a share premium of USD
0.05889 per share

CRISP Analytics Private Limited 3,736 10 134.49 - -

Compulsory Convertiable Preference shares of
face value of `10 with share premium of
`35,989.28 per share

Sub-total (B) 1913.80

Investments in Compulsory convertible

debentures (fully paid up)

Qyuki Digital Media Private Limited

0.001%Compulsory Convertible Debenture (CCD)
72,000 1,000 72.00 72,000 1,000
of `1,000 face value

Sub-total (C) 72.00

Other Investments
FirstHive Tech Corporation (convertiable
promissory note) 57.41
Investment value
2.14
Interest accured on convertiable promissory
note

Sub-total (D) 59.55

Investment in unquoted instruments

measured at FVTOCI

Investments in preference instruments (fully

paid up)

CRISP Analytics Private Limited 417 10 15.01 - -

Compulsory Convertiable Preference shares of
face value of `10 with share premium of
`35,989.28 per share

Unboxrobotics Labs Private Limited 260 10 10.95 - -

Compulsorily convertible preference shares of
face value `10 with a share premium of `
42,118
Sub-total (E) 25.96

Total Non current investments 2,083.70

Aggregate amount of quoted investments & market value thereof Aggregate -
amount of unquoted investments 2,083.70
Aggregate amount for impairment in value of investments -
As at March 31, 2020
(`Mn) (`Mn)

283.40

72.00

72.00

-
-

356.16
-
356.16
-
 (b) Current investments
Particulars As at March 31, 2021 As at March 31, 2020
Number of Amount (`Mn) (`Mn) Number of Amount
Units per unit Units per unit
(`) (`)
Investment measured at FVTPL

Investment in Mutual Funds (unquoted)

(Liquid/ Liquid Plus)

ICICI Prudential Flexible Income - Direct Plan - - - - 1,258,580 293.78

Growth

ICICI Prudential Liquid Plan - Direct Plan-Daily - - - 1,777,658 100.11

Dividend

Aditya Birla Sun Life Liquid Fund - Daily Divi- - - - 423,260 100.19
dend-Direct Plan

HDFC Liquid Fund-Direct Plan-Dividend-Daily - - - 129,319 1,020

Reinvest

HDFC Liquid Fund-Direct Plan-Growth - - - 114,599 3,906.61

IDFC Cash Fund-Daily Dividend (Direct Plan) - - - 4,794 1,001.67

SBI Premier Liquid Fund-Direct Plan-Daily Divi- - - - 108,584 1,003.25

dend

SBI Premier Liquid Fund - Direct Plan - Growth - - - 31,705 3,109.02

Kotak Liquid Direct Plan Growth - - - 18,988 4,014.87

Kotak Liquid Direct Plan Daily Dividend - - - - 260,123 1,222.81

Reinvest
Axis Liquid Fund - Direct-Growth - - - 302,213 2,204.34

Axis Liquid Fund-Direct Plan-Daily Dividend - - - 101,170 1,000.96

Reinvestment

HSBC Cash Fund-Direct Plan Growth - - - - 5,194 1,977.49

Total current investments -

Aggregate amount of quoted investments & market value thereof Aggregate -
amount of unquoted investments -
Aggregate amount of impairment in value of investments
-
As at March 31, 2020
(`Mn) (`Mn)

369.75

177.96

42.41

131.88

447.69

4.80

108.94

98.57

76.23

318.08

666.18

101.27

10.27 2,554.03

2,554.03
-
2,554.03
-
 4. Financial Asset
(c) Trade receivables

Particulars Non-Current Current

As at March 31, As at March 31,
2021 2021
(`Mn) (`Mn)

Unsecured considered good - 63.74

Trade Receivables which have significant increase in credit risk - 57.33

Trade Receivables-credit impaired - 45.29
Allowance for bad and doubtful debts
Trade Receivables which have significant increase in credit risk - (57.33)
Trade Receivables-credit impaired - (45.29)

Total - 63.74
No trade or other receivable are due from directors or other officers of the group either severally or jointly with any other pers
receivable are due from firms or private companies respectively in which any director is a partner, a director or a member. Tra
interest bearing and are generally on terms of 30 to 90 days.
(d) Cash & bank balances

Particulars Non-Current Current

As at March 31, As at March 31,
2021 2021
(`Mn) (`Mn)
Cash & cash equivalents
Balances with banks:
-In current accounts - 584.01
-In fixed deposit accounts with original maturity of less than 3 months - 5,812.90
Cheques in hand - -
Cash on hand - 5.61

Total (A) - 6,402.52

Bank balances other than cash and cash equivalents

Balances in fixed deposit accounts with original maturity more than 3 - 19.00
months but less than 12 months - 0.77
Unpaid dividend accounts (refer note 30)

Total (B) - 19.77

Total (A)+(B) - 6,422.29

There are no repatriation restrictions with regard to cash and cash equivalents as at the end of the reporting period and prior p
(e) Loans

Particulars Non-Current Current

As at March 31, As at March 31,
2021 2021
(`Mn) (`Mn)
Intercorporate loan - 112.10
Less : Provision for doubtful loan - (50.00)
Total

- 62.10
Intercorporate loan carry interest rate of 8% per annum. The loan is repayable along with interest within 1 year from the date o
 Non-Current Current
As at March 31, As at March 31,
2020 2020
(`Mn) (`Mn)

- 91.15

- 66.04
- 45.28

- (66.04)
- (45.28)

- 91.15
r severally or jointly with any other person. Nor any trade or other
s a partner, a director or a member. Trade receivables are non-

Non-Current Current
As at March 31, As at March 31,
2020 2020
(`Mn) (`Mn)

- 462.74
- 4,798.40
- 6.50
- 3.44

- 5,271.08

- 19.80
- 0.78

- 20.58

- 5,291.66
e end of the reporting period and prior periods.

Non-Current Current
As at March 31, As at March 31,
2020 2020
(`Mn) (`Mn)
- 80.44
- (50.00)

- 30.44
th interest within 1 year from the date of loan.
 (f) Other financial assets
Particulars Non-Current Current
As at March 31, As at March 31,
2021 2021
(`Mn) (`Mn)
(Unsecured, considered good) 82.34 8.64
Security deposits 5,352.76 24,122.75
Balance in fixed deposit accounts with original maturity more than 12 - 0.26
months* Interest accrued on unsecured loan - 9.99 (0.26)
Less: Provision for doubtful - 503.26
Interest accrued on fixed deposits with banks Amount receivable from joint 0.13
venture
* Includes `22.00 Mn (March 31, 2020 -`245.24 Mn) as margin money with
bank

Total 5,445.09 24,634.78

5. (a) Deferred tax assets

Particulars

Deferred tax asset

- Opening balance
- Adjustment for the current year:
- Change on account of subsidiary
- (Charged)/credited to profit or loss

Total
Significant components of deferred tax assets are shown in the following table:
As at March 31, (Charged)/credited
Particulars 2021 to profit or loss
(` Mn) (` Mn)
Deferred tax assets (9.32) (14.34)
-Routed through profit or loss 8.33 (9.53)
-Provision for leave obligations 21.34 7.45
-Provision for doubtful debts 23.25 23.25
-Provision for bonus 59.21 5.05
-Provision for Gratuity 237.79 5.89
-Property, Plant & Equipment - 8.10 4.87
-Employee stock option scheme compensation (ESOP) - 12.28 (0.84)
-Fair valuation of mutual funds 1.88 (0.34)
-Security deposit & deferred rent expense 5.47
-Tax credits (Minimum alternative tax credit) 0.95
-Right to use of asset & Finance lease liability
-Others

Total -(A) 362.86 27.88

-Not routed through profit or loss Change on account of subsidiary

0.61 (0.33)
Total -(B) 0.61 (0.33)

Total -(A)+(B) 363.47 27.55

 Non-Current Current
As at March 31, As at March 31,
2020 2020
(`Mn) (`Mn)
69.44 16.73
811.63 6,842.36
- 0.26
- 4.95 (0.26)
- 209.44
0.11

886.02 7,068.64

As at March 31, As at March 31,

2021 2020
(`Mn) (`Mn)
335.92 437.77
(0.33) 0.94
27.88 (102.79)

363.47 335.92

(Charged)/credited As at March 31,

to profit or loss 2020
(` Mn) (` Mn)
(14.34) 5.02
(9.53) 17.86
7.45 13.89
23.25 - 54.16
5.05 231.90
5.89 (4.87)
4.87 8.94
(0.84) 0.34
(0.34) 6.81
5.47 0.93
0.95

27.88 334.98

(0.33) 0.94
(0.33) 0.94

27.55 335.92
 5(b). Deferred tax liabilities

Particulars

Deferred tax liabilities

- Opening balance
- Adjustment for the current year:
‘ -Asset acquired on business combination
- Charged/(credited) to profit or loss
‘-Deferred tax on gain on difference in carrying value of Joint Venture

Total
Significant components of deferred tax liabilities are shown in the following table:
As at March 31, (Charged)/credited
Particulars 2021 to profit or loss
(` Mn) (` Mn)
Deferred tax liabilities
-Routed through profit or loss
- Asset acquired on business combination 41.86 (12.88)
- Deferred tax on gain on difference in carrying value of Joint Venture 1,049.10 1049.10
Total

1,090.96 1036.22
6. Other non-current/current assets
Particulars Non-Current Current
As at March 31, As at March 31,
2021 2021
(`Mn) (`Mn)
(Unsecured, considered good, unless otherwise stated)
Capital advances
Considered good - -
Considered doubtful 55.18 -
Less: Provision for doubtful capital advances (55.18) -
Others
- Amount recoverable in cash or in kind or for value to be received 8.30 242.74
- Prepaid rent - 0.45
- Balance with service tax authorities - 3.62
Less : provision for doubtful advance - (3.62)
balance with goods and service tax authorities - 0.83
Less : Goods and Service tax payable - (0.26)

Total 8.30 243.76

7. (a) Tax assets (net)
Non-Current Current
Particulars As at March 31, As at March 31,
2021 2021
(`Mn) (`Mn)
- Advance tax 10,579.36 -
Less: Provision for tax (9,097.44) -
- Advance tax - fringe benefits 29.80 -
Less: Provision for tax - fringe benefits (28.70) -

Total 1,483.02 -
 As at March 31, As at March 31,
2021 2020
(`Mn) (`Mn)

54.74 -

- 64.40
(12.88) (9.66)
1,049.10 -

1,090.96 54.74

(Charged)/credited As at March 31,

to profit or loss 2020
(` Mn) (` Mn)

(12.88) 54.74
1049.10 -

1036.22 54.74

Non-Current Current
As at March 31, As at March 31,
2020 2020
(`Mn) (`Mn)

4.77 -
55.18 -
(55.18) -

17.42 189.50
3.26 -
- 3.62
- (3.62)
- 0.23
- (0.23)

25.45 189.50

Non-Current Current
As at March 31, As at March 31,
2020 2020
(`Mn) (`Mn)
9,638.39 -
(8,322.20) -
29.80 -
(28.70) -

1,317.29 -
 7. (b) Tax liabilities (net)
Particulars Non-Current Current
As at March 31, As at March 31,
2021 2021
(`Mn) (`Mn)

- Provision for tax 29.99 -

Less: Advance tax (17.43) -

Total 12.56 -
8. Equity share capital

Particulars

Authorised capital
150.00 Mn Equity Shares of `10/- each (March 31, 2020 - 150.00 Mn Equity Shares of `10/- each)
Issued, subscribed and paid-up capital
128.52 Mn Equity Shares of `10/- each fully paid up
(March 31, 2020 - 122.27 Mn Equity Shares of `10/- each fully paid up)
Total

a. Reconciliation of the shares outstanding at the beginning and at the end of the year
As at March 31, As at March 31,
Particulars 2021 2021
No of shares (`Mn)

Equity shares

At the beginning of the year 122,266,498 1,222.66

Add: Shares held by ESOP Trust at the beginning of the year 249,661 2.50
Add: Issued during the year under QIP (Refer note 35) 6,067,961 60.68
Add: Issued during the year to the ESOP Trust 200,000 2.00
128,784,120 1,287.84

Less: Shares held by ESOP Trust as at the year end (260,743) (2.61)

Outstanding at the end of the year 128,523,377 1285.23

During the year ended March 31, 2021 , the Company has issued 200,000 (March 31, 2020: 400,000) equity shares of `10/- each
respectively to the Info Edge Employees Stock Option Plan Trust which have been listed in the respective Stock Exchanges , ran
existing equity shares of the Company.
b. Terms/Rights attached to equity shares
The Group has only one class of equity shares having a par value of `10 per share. Each holder of equity shares is entitled to one
declares and pays dividend in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of the s
Annual General Meeting, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to
of the Group in proportion to their shareholding.
c. Dividends
The Board of Directors in its meeting held on June 11,2021 has declared an Interim dividend of ` 8.00 per equity share.
 Non-Current Current
As at March 31, As at March 31,
2020 2020
(`Mn) (`Mn)

0.67 -

(0.59) -

0.08 -

As at March 31, As at March 31,

2021 2020
(`Mn) (`Mn)

1,500.00 1,500.00

1,285.23 1,222.66

1,285.23 1,222.66
ear
As at March 31, As at March 31,
2020 2020
No of shares (`Mn)

122,007,940 1,220.08
108,219 1.08
- -
400,000 4.00
122,516,159 1,225.16

(249,661) (2.50)

122,266,498 1,222.66
0: 400,000) equity shares of `10/- each fully paid up at `10/-per share
in the respective Stock Exchanges , ranking pari passu with the

holder of equity shares is entitled to one vote per share. The Group
ectors is subject to the approval of the shareholders in the ensuing
the equity shareholders are eligible to receive the remaining assets

dend of ` 8.00 per equity share.

 d. Details of shareholders holding more than 5% shares in the Company
Particulars As at March 31, 2021 As at March 31, 2020
No. of shares % Holding No. of shares

Equity shares of `10 each fully paid

- Sanjeev Bikhchandani 31,699,159 24.61 31,731,019

- Sanjeev Bikhchandani (Trust) 8,306,219 6.45 8,356,673
- Hitesh Oberoi 6,497,108 5.04 6,547,608
- Axis Mutual Fund Trustee Limited A/C Axis Mutual Fund A/C Axis Long Term 6,757,330 5.25 6,841,440
Equity Fund

Total 53,259,816 41.35 53,476,740

9. Other equity
As at March 31,
Particulars 2021
(`Mn)

Securities premium 26,457.30

General reserve 1,184.36

Stock options outstanding account 499.33
Other reserve 167.58
Retained earnings 25,001.75

Total 53,310.32
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 purpose
shares in accordance with the provisions 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 pe
applicable regulations. The purpose of these transfers was to ensure that if a dividend distribution in a given year is more than 10
the Company for that year, then the total dividend distribution is less than the total distributable results for that year. Conseque
Companies Act 2013, the requirement to mandatorily transfer a specified percentage of the net profit to general reserve has bee
amount previously transferred to the general reserve can be utilised only in accordance with the specific requirements of Compan
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 Emp

“This space has been intentionally left blank”.

 As at March 31, 2020
No. of shares % Holding

31,731,019 25.90
8,356,673 6.82
6,547,608 5.34
6,841,440 5.58

53,476,740 43.64

As at March
31, 2020
(`Mn)

8,227.66

1,036.53
397.38
128.25
10,943.08

20,732.90

ed only for limited purposes such as issuance of bonus

t income at a specified percentage in accordance with

given year is more than 10% of the paid-up capital of
ts for that year. Consequent to introduction of
to general reserve has been withdrawn. However, the
ic requirements of Companies Act, 2013

d to employees under Employee stock option plan.

 d) Other reserve
Exchange differences arising on translation of the foreign operations are recognised in other comprehensive income and accumula
within equity. The cumulative amount is reclassified to profit or loss when the net investment is disposed-off.
Particulars As at March 31, 2021
(`Mn) (`Mn)

Securities premium

Opening balance 8,227.66

Add : Securities premium on shares issued to and held by ESOP Trust as at -
the
beginning of the year
Add: Securities premium on shares issued during the year (Refer Note No. 18,689.32
35) 26,916.98
Less : Expenses incurred on issue of shares adjusted from Securities 459.68
Premium Account (Refer Note No. 35)
Less : Securities premium on shares issued to and held by ESOP Trust as at - 26,457.30
the year end

General reserve

Opening balance 1,036.53

Add: Transfer from Stock Options Outstanding Account 147.83
Less: Reversal due to disposal of subsidiary - 1,184.36

Stock options outstanding account

Opening balance 397.38

Add: Options granted during the year 249.78
Less: Reversal due to disposal of subsidiary -
Less: Amount transferred to General Reserve (147.83) 499.33

Other Reserve

Opening balance 128.25

Add :Share of other comprehensive income of joint ventures accounted 39.33 167.58
for
using the equity method

Retained earnings

Opening balance 10,943.08

Add: Net profit after tax transferred from Statement of Profit and Loss 14,070.81
Less: Distributions made on account of interest to the unit holders during (2.83)
the
year
Add: Items of other comprehensive income recognised directly in retained 10.73
earnings
Add: Amount transferred to Non Controlling interest (20.04)
Add: Dividend paid -
Add: Interim Dividends -
Add: Corporate dividend tax - 25,001.75

Total 53,310.32
 er comprehensive income and accumulated in a separate reserve
ment is disposed-off.
As at March 31, 2020
(`Mn) (`Mn)

8,227.66
-

-
8,227.66
-

- 8,227.66

1,094.84
17.62
(75.93) 1,036.53

225.59
257.41
(68.00)
(17.62) 397.38

102.86
25.39 128.25

14,554.87
(2,376.23)
-

(54.50)

(4.97)
(241.68)
(735.82)
(198.59) 10,943.08

20,732.90
 10. Financial liabilities
a) Borrowings

Particulars Non-Current Current

As at March 31, As at March 31,
2021 2021
(`Mn) (`Mn)
Secured loans

Term loans from banks 0.72 1.70

Current maturities transferred to other financial liabilities - (1.70)

Total 0.72 -
a. Term Loans from banks are secured by hypothecation of vehicles taken on lease.
b. Term loans carry interest rates ranging from 9% to 13%. The loan is repayable along with interest with in 3 years from the dat
c. Outstanding installments for such term loans ranges from 1-21 installments.
b. Other financial liabilities

Particulars Non-Current Current

As at March 31, As at March 31,
2021 2021
(`Mn) (`Mn)
Current maturities of term loans transferred from long term borrowings - 1.70
Payable to unit holders 1.61
Interest accrued but not due on loans - 0.02

Total - 3.33
c. Trade payables
Particulars Non-Current Current
As at March 31, As at March 31,
2021 2021
(`Mn) (`Mn)
Trade payables
-total outstanding dues of micro enterprises and small enterprises
-total outstanding dues of creditors other than micro enterprises and small -
enterprises -643.37
-
Total

- 643.37
d. Lease Liability
Particulars Non-Current Current
As at March 31, As at March 31,
2021 2021
(`Mn) (`Mn)
Lease liability
Total 439.47 209.00

439.47 209.00
 Non-Current Current
As at March 31, As at March 31,
2020 2020
(`Mn) (`Mn)

2.42 3.77
- (3.77)

2.42 -

with interest with in 3 years from the date of loan.

Non-Current Current
As at March 31, As at March 31,
2020 2020
(`Mn) (`Mn)
- 3.77
-
- 0.04

- 3.81

Non-Current Current
As at March 31, As at March 31,
2020 2020
(`Mn) (`Mn)

-
-634.15
-

- 634.15

Non-Current Current
As at March 31, As at March 31,
2020 2020
(`Mn) (`Mn)

566.20 200.38

566.20 200.38
 The following is the movement in lease liabilities for the year ended March 31,2021 and March 31,2020

Particulars

Balance at the beginning

Additions
Deletions
Lease Waivers during the year*
Interest on Lease liabilities accrued during the year
Payment of lease liabilities
Payment of interest on lease obligation
Deletion due to disposal of subsidiary
Balance at the end
*Lease rent waivers received from lessors due to covid 19.
The table below provides details regarding the contractual maturities of lease liabilities on an undiscounted basis:
Particulars

Less than one year

One to five years
More than five years
11. Provisions
Particulars Non-Current Current
As at March 31, As at March 31,
2021 2021
(`Mn) (`Mn)

Provision for employee benefits

- Gratuity (refer note 31) 8.35 138.80

- Leave obligations (refer note 31) 0.53 92.61
- Accrued bonus & incentives - 440.47

Total 8.88 671.88

12. Other liabilities
Particulars Non-Current Current
As at March 31, As at March 31,
2021 2021
(`Mn) (`Mn)

Income received in advance (deferred sales revenue) (refer note 47) 11.49 5,316.05

Unpaid dividend (refer note 30) - 0.77

Advance from customers (refer note 47) - 21.19
Initial settlement amount 0.01 -
Employee benefits payable - 27.09
Others
- TDS payable - 107.67
- GST
GST Payable - 312.68
Less: Balance with GST authorities - (213.34)
- GCC VAT
VAT payable - 6.85
Less: Balance with authorities - (1.44)
- EPF Payable - 22.04

-Service tax payable under SVLDR scheme - -

- Other statutory dues - 0.83

Total 11.50 5,600.39

nd March 31,2020
Year ended Year ended
March 31, 2021 March 31,
(`Mn) 2020
766.58 (`Mn)
869.76
100.50 179.25
(16.48) (24.01)
(25.36) -
57.50 70.59
(176.77) (186.77)
(57.50) (70.59)
- (71.65)
648.47 766.58

on an undiscounted basis:
Amount in Amount in
(`Mn) (`Mn)
209.00 200.38
394.91 503.00
44.56 63.20

Non-Current Current
As at March 31, As at March 31,
2020 2020
(`Mn) (`Mn)

6.35 128.73
- 69.40
- 354.52

6.35 552.65

Non-Current Current
As at March 31, As at March 31,
2020 2020
(`Mn) (`Mn)

9.75 4,729.86

- 0.78
- 26.14
0.01 -
- 19.93

- 94.31

- 216.73
- (185.03)

- 6.26
- (1.94)
- 22.24

- 60.03
 - 13.51

9.76 5,002.82
 13. Revenue from operations

Particulars

Sale of services*
Sale of products

Total
*for disaggregated revenue refer note 29 segment reporting
14. Other income

Particulars

Interest income from financial assets measured at amortised cost

- on fixed deposits with banks
- on other financial assets
- on income taxes
Dividend income from financial assets measured at FVTPL
Net gain on disposal of financial assets measured at FVTPL
Net gain on sale of property, plant & equipment
Net gain on disposal of investments
Unwinding of discount on security deposits
Interest income on deposits with banks made by ESOP Trust
Liabilities written back to the extent no longer required
Revenue from advertisement
Interest on Inter Company deposits
Miscellaneous income
Total
FVTPL-Fair value through Profit or loss
15. Cost of materials consumed
Year ended
Particulars March 31,2021
(`Mn)
Raw materials at the beginning of the year -
Add: Purchases -
Less: Raw materials at the end of the period/year -
Total -
16. Employee benefits expense
Year ended
Particulars March 31,2021
(`Mn)
Salaries, wages and bonus 4,627.79
Contribution to provident and other funds (refer note 31) 185.50
Sales incentives 427.53
Staff welfare expenses 72.25
Share based payments to employees (refer note 27) 249.78
Other employee related expenses 110.69
Total 5,673.54
 Year ended Year ended
March 31,2021 March 31,2020
(`Mn) (`Mn)
11,201.22 13,097.05
- 22.25

11,201.22 13,119.30

Year ended Year ended

March 31,2021 March 31,2020
(`Mn) (`Mn)

1,188.58 833.28
2.35 -
0.82 0.78
3.17 62.79
228.25 61.81
0.64 0.67
- 50.73
14.28 9.88
13.34 15.82
1.82 0.15
- 0.09
3.43 3.29
37.28 5.36
1,493.96 1,044.65

Year ended Year ended

March 31,2021 March 31,2020
(`Mn) (`Mn)
- 0.38
- 21.97
- (1.30)
- 21.05

Year ended Year ended

March 31,2021 March 31,2020
(`Mn) (`Mn)
4,627.79 4,711.84
185.50 191.79
427.53 443.30
72.25 111.68
249.78 257.41
110.69 129.93
5,673.54 5,845.95
 17. Finance costs

Particulars

Interest on borrowings
Bank charges
Interest on delay in payment of taxes
Interest on lease liability
Total
18. Depreciation and amortisation

Particulars

Depreciation of Property, plant and equipment

Depreciation on right to use asset
Amortisation of Intangible assets
Depreciation of Investment property

Total
19. Advertising and promotion cost

Particulars

Advertisement expenses
Promotion & marketing expenses

Total
20. Administration and other expenses

Particulars

Electricity and water

Rent
Repairs and maintenance (building)
Repairs and maintenance (machinery)
Legal and professional charges*
Rates & taxes
Insurance
Communication expenses
Travel & conveyance
Bad debts /provision for doubtful debts (net)
Collection & bank related charges
Loss on disposal of property, plant & equipment
Expenditure towards Corporate Social Responsibility activities (refer Note 41)
Miscellaneous expenses
Recruitment & training
Impairment of Intangible asset under development
Impairment of Investment property
Total
* refer note 24 for Auditor’s remuneration
 Year ended Year ended
March 31,2021 March 31,2020
(`Mn) (`Mn)
0.37 0.59
0.36 10.73
- 0.06
57.50 70.59
58.23 81.97

Year ended Year ended

March 31,2021 March 31,2020
(`Mn) (`Mn)
178.92 172.81
235.42 230.21
79.68 68.48
5.12 5.91

499.14 477.41

Year ended Year ended

March 31,2021 March 31,2020
(`Mn) (`Mn)
1,802.62 1,986.29
23.44 76.58

1,826.06 2,062.87

Year ended Year ended

March 31,2021 March 31,2020
(`Mn) (`Mn)

32.28 89.16

25.25 40.53
37.27 62.51
42.31 42.89
185.15 196.45
1.21 39.66
4.27 2.68
31.80 57.69
29.03 131.54
2.28 57.71
50.42 58.76
- 4.89
80.32 108.24
161.48 266.72
- 0.30
- 20.00
- 11.57
683.07 1,191.30
 21. Network, internet and other direct charges
Year ended
Particulars March 31,2021
(`Mn)

Internet and server charges 235.80

Others 48.67

Total 284.47
22. A) Earnings per share (EPS):

Particulars

Profit attributable to Equity Shareholders (`Mn)

Basic
Weighted average number of Equity Shares outstanding during the year (Nos.)
Basic EPS of `10 each

Diluted
Weighted average number of Equity Shares outstanding during the year (Nos.)
Add : Weighted average number of potential equity shares on account of employee stock options
Weighted average number of shares outstanding for diluted EPS

Diluted EPS of `10 each

Note: As at March 2021, Nil nos. options (March 2020- 713,755 nos) in respect of shares were excluded from weighted average num
the computation of diluted earnings per share as these were anti dilutive.
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
determination of diluted earnings per share to the extent to which they are dilutive. The options have not been included in the d
per share.

23. Commitments Capital commitments

Capital expenditure contracted for at the end of the reporting period but not recognised as liabilities is as follows:

Particulars
Property, plant & equipment (net of advances)
24. Auditor’s Remuneration*
Particulars

As Auditors
-Audit Fees
-Tax Audit Fees
Other Services (including certification) **
Reimbursement of Expenses
Total
* excluding GST
**including expense amounting to ` 7.52 Mn incurred during current year on issue of shares adjusted from Securities Premium Ac
 Year ended Year ended
March 31,2021 March 31,2020
(`Mn) (`Mn)

235.80 221.53

48.67 50.37

284.47 271.90

Year ended Year ended

March 31, March 31, 2020
2021 `Mn
`Mn
14,070.81 (2,376.23)

126,188,125 122,081,252
111.51 (19.46)

126,188,125 122,081,252
901,923 *0
127,090,048 122,081,252

110.72 (19.46)

ere excluded from weighted average number of Ordinary Shares for

ered to be potential equity shares. They have been included in the

options have not been included in the determination of basic earnings

abilities is as follows:

Amount in (`Mn)
March 31, March 31, 2020
2021
9.11 23.05

Year ended Year ended

March 31, March 31, 2020
2021 `Mn
`Mn
7.24 6.90
0.46 0.40
7.91 0.05
0.01 0.25
15.62 7.60

res adjusted from Securities Premium Account

 25. Contingent Liabilities
A) The Group has numerous interpretative issues relating to the Supreme Court (SC) judgement on PF dated 28th February, 2019. A
group has made a provision on a prospective basis from the date of the SC order. The group will update its provision, on receiving fur
B) The Group has received various legal notices of claims/lawsuits filed against including suits relating to infringement of Intellectu
Consumer suits, [Link] relation to the business activities carried on by it. The management based on internal assessment and legal op
no material liability is likely to arise on account of such claims/law suits.
C) Claims against the Allcheckdeals India Pvt. Ltd. not acknowledged as debts `1.30 Mn (Previous Year ` 1.30 Mn) lying at various fo
on account of above cannot be determined unless the judgement is received from appropriate forum.

26. (1) Related Party Disclosures for the period ended March 31, 2021:
(A). Subsidiaries & Controlled trust
Interests in subsidiaries & controlled trust are set out in note 28

(B). Joint ventures which entered into transactions with Group

Ideaclicks Infolabs Private Limited Shop Kirana E Trading Private Limited Metis Eduventures Private Limited Sunrise Mentors
Unmarried Marketing Pvt Ltd
Zomato Limited (formerly known as Zomato Private Limited and Zomato Media Private Limited) Makesense Technologies Lim
International Educational Gateway Private Limited Nopaperforms solutions private limited
Llama Logisol Private Limited Bizcrum Infotech Private Limited Agstack Technologies Private Limited Greytip Software Priva
4B Networks Private Limited
Printo Document Services Private Limited

(C). Key Management Personnel and relatives

Sanjeev Bikhchandani Hitesh Oberoi
Chintan Thakkar Murlee Manohar Jain Surabhi Bikhchandani Divya Batra

(D). Enterprise over which KMP & Relatives have significant influence
Minik Enterprises Oyester Learning
International Foundation for Research & Education
(E). Key management personnel compensation

Particular
Short term employee benefits
Employee share based payments
Total compensation
ated 28th February, 2019. As a matter of caution, the
s provision, on receiving further clarity on the subject.
o infringement of Intellectual Property Rights (IPR),
rnal assessment and legal opinion obtained, believes that

` 1.30 Mn) lying at various forums. The future cash flows

ate Limited Sunrise Mentors Private Limited Happily

Makesense Technologies Limited

mited Greytip Software Private Limited

(`Mn)
87.30
20.20
107.50
 (F). Details of transactions with related party for the year ended March 31, 2021 in the

Joint KMP & Independent Non

Ventures Relatives Directors- Non Executive
Sr. No Nature of relationship / transaction Executive & Director
Relatives

1 Remuneration Paid:
Sanjeev Bikhchandani - 28.94 - -
Hitesh Oberoi - 28.82 - -
Chintan Thakkar* - 42.15 - -
Murlee Manohar Jain* - 7.59 - -
Surabhi Bikhchandani - 1.82 - -
2 Receipt of Service:
Minik Enterprises - - - -
Oyester Learning - - - -
Divya Batra - 1.33 - -
3 Services Rendered:
Ideaclicks Infolabs Private Limited 0.14 - - -
Nopaperforms solutions private limited 0.09 - - -
Shop Kirana E Trading Private Limited 0.09 - - -
International Educational Gateway Private Limited 0.21 - - -
Metis Eduventures Private Limited 0.21 - - -
Sunrise Mentors Private Limited 1.02 - - -
Llama Logisol Private Limited 0.19 - - -
International Foundation for Research & Education - - - -
Bizcrum Infotech Private Limited 0.19 - - -
Agstack Technologies Private Limited 0.12 - - -
Greytip Software Private Limited 0.36 - - -
4 Unsecured loan/advance given for business
purpose
4B Networks Private Limited 5.00 - - -
Happily Unmarried Marketing Pvt Ltd 10.00 - - -
Printo Document Services Private Limited 60.00 - - -
Bizcrum Infotech Private Limited 20.00 - - -
Agstack Technologies Private Limited 15.00 - - -
5 Investment in Equity Share
Agstack Technologies Private Limited 0.08 - - -
Llama Logisol Private Limited 32.62 - - -
6 Investment in Preference Shares
LQ Global Services Private Limited 25.00 - - -
Bizcrum Infotech Private Limited 102.94 - - -
4B Networks Private Limited 90.02 - - -
Llama Logisol Private Limited 188.79 - - -
Agstack Technologies Private Limited 54.92 - - -
7 Interest on Unsecured loan/business Advance:
4B Networks Private Limited 0.04 - - -
Happily Unmarried Marketing Pvt Ltd 0.13 - - -
Printo Document Services Private Limited 2.10 - - -
Bizcrum Infotech Private Limited 0.38 - - -
Agstack Technologies Private Limited 0.15 - - -
8 Repayment Unsecured loan/business advance
given (including interest)
4B Networks Private Limited 5.04 - - -
Happily Unmarried Marketing Pvt Ltd 10.12 - - -
Bizcrum Infotech Private Limited 20.35 - - -
Agstack Technologies Private Limited 15.14 - - -
the year ended March 31, 2021 in the ordinary course of business:
Amount (`Mn)
Enterprise over Total
which KMP &
Relatives have
significant
influence

-
-
-
-
- 109.32

1.13
2.42
- 4.87

-
-
-
-
-
-
-
0.08
-
-
- 2.70

-
-
-
-
- 110.00

-
- 32.70

-
-
-
-
- 461.67

-
-
-
-
- 2.80

-
-

50.65
-
- 50.65
 Joint KMP & Independent Non
Ventures Relatives Directors- Non Executive
Sr. No Nature of relationship / transaction Executive & Director
Relatives

9 Sitting Fees:
Bala Deshpande - - 0.80 -
Kapil Kapoor - - - 0.90
Naresh Gupta - - 0.95 -
Sharad Malik - - 0.95 -
Ashish Gupta - - 0.50 -
Geeta Mathur - - 0.95 -
Saurabh Srivastava - - 1.30 -
10 Commission Payable
Bala Deshpande - - 0.55 -
Arun Duggal (till December 19, 2019) - - 0.56 -
Naresh Gupta - - 1.00 -
Ashish Gupta - - 0.75 -
Sharad Malik - - 0.75 -
Geeta Mathur - - 0.91 -
Saurabh Srivastava - - 0.75 -
11 Rent Received 0.02 - - -
Zomato Limited (formerly known as Zomato Private 0.02 - - -
Limited and Zomato Media Private Limited)
Makesense Technologies Limited

12 Payment towards Corporate Social Responsibility

activities (refer note no. 41)
International Foundation for Research & Education
- - - -
*including employee share based payments.
(G). Amount due to / from related parties as at March 31, 2021 Am
Joint KMP & Independent Non
Ventures Relatives Directors Executive
Sr. No Nature of relationship / transaction Non Executive Director

1 Amount receivable against Service rendered and

sub lease
0.13 - - -
Zomato Limited (formerly known as Zomato Private
Limited and Zomato Media Private Limited)
2 Amount receivable for services rendered
Sunrise Mentors Private Limited 0.01 - - -

3 Amount receivable for unsecured loan(including

interest)
Printo Document Services Private Limited
62.10 - - -
(H). Terms & conditions
Transactions related to investment in wholly owned subsidiaries made in debenture/preference share were made at face va
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
actuarial basis for the Company as a whole
 Enterprise over Total
which KMP &
Relatives have
significant
influence

-
-
-
-
-
-
- 6.35

-
- -
-
-
-
- -
- 5.27
-
-

0.04

11.50 11.50

Amount (`Mn)
Enterprise over Total
which KMP &
Relatives have
significant
influence

- 0.13

- 0.01

- 62.10

/preference share were made at face value. All other transactions

e for gratuity and leave benefits, as they are determined on an

 26. (2) Related Party Disclosures for the year ended March 31, 2020:
(A) Subsidiaries & Controlled trust
Interests in subsidiaries & controlled trust are set out in note 28

(B) Joint ventures and associate which entered into transactions with Group
Zomato Media Private Limited
Happily Unmarried Marketing Private Limited Ideaclicks Infolabs Private Limited
Bizcrum Infotech Private Limited Nopaperforms solutions private limited Medcords Healthcare Solutions Private Limited Sun
Greytip Software Private Limited
International Educational Gateway Private Limited Metis Eduventures Private Limited
Terralytics Analysis Private Limited LQ Global Services Private Limited Shop Kirana E Trading Private Limited Agstack Techn
eTechAces Marketing and Consulting Private Limited Llama Logisol Private Limited
Wishbook Private Limited
Printo Document Services Private Limited Makesense Technologies Limited

(C) Key Management Personnel Sanjeev Bikhchandani Hitesh Oberoi

Chintan Thakkar Murlee Manohar Jain

(D) Key management personnel compensation

Particular
Short term employee benefits
Employee share based payments
Total compensation
(E) Details of transactions with related party for the year ended March 31, 2020 in the

Joint KMP & Independent Non Enterprise over

Ventures Relatives Directors Executive which KMP &
Sr. No Nature of relationship / transaction Non Executive Directors Relatives have
& Relatives significant
influence
1 Remuneration Paid:
Sanjeev Bikhchandani - 15.93 - - -
Hitesh Oberoi - 16.71 - - -
Chintan Thakkar* - 35.82 - - -
Murlee Manohar Jain* - 8.75 - - -
Surabhi Bikhchandani - 1.73 - - -
2 Unsecured loans/Advances given
International Educational Gateway Private Limited 20.00 - - - -
Medcords Healthcare Solutions Private Limited 26.00 - - - -
lutions Private Limited Sunrise Mentors Private Limited

vate Limited Agstack Technologies Private Limited

(` Mn)
57.79
19.42
77.21
ded March 31, 2020 in the ordinary course of business:
Amount (`Mn)
Enterprise over Total
which KMP &
Relatives have
significant
influence

-
-
-
-
- 78.94

-
- 46.00
 Joint KMP & Independent Non
Ventures Relatives Directors Executive
Sr. No Nature of relationship / transaction Non Executive Directors
& Relatives

3 Repayment received of unsecure loan/advances

given (including interest)
20.16 - - -
International Educational Gateway Private Limited
26.74 - - -
Medcords Healthcare Solutions Private Limited

4 Receipt of Service:
Minik Enterprises - - - -
Oyester Learning - - - -
Divya Batra - 1.25 - -
5 Dividend Paid
Sanjeev Bikhchandani - 253.85 - -
Hitesh Oberoi - 52.38 - -
Surabhi Bikhchandani - 11.95 - -
Dayawanti bikhchandani - 11.75 - -
Chintan Thakkar - 0.08 - -
Arun Duggal - - 0.29 -
Bala Deshpande - - 0.43 -
Sharad Malik - - 4.31 -
Endeavour Holding Trust - - - -
Ashish Gupta - - 0.44 -
Nita Goyal - - 0.69 -
Kapil Kapoor - - - 20.49
6 Services Rendered:
Zomato Media Private Limited 0.69 - - -
Happily Unmarried Marketing Private Limited 0.02 - - -
Ideaclicks Infolabs Private Limited 0.03 - - -
Bizcrum Infotech Private Limited 0.03 - - -
Nopaperforms solutions private limited 0.20 - - -
Oyester Learning - - - -
International Foundation for Research & Education - - - -
Medcords Healthcare Solutions Private Limited 0.20 - - -
Sunrise Mentors Private Limited 0.06 - - -
Greytip Software Private Limited 0.37 - - -
International Educational Gateway Private Limited 0.26 - - -
7 Investment in Equity Shares
Greytip Software Private Limited 20.04 - - -
Metis Eduventures Private Limited 70.61 - - -
Sunrise Mentors Private Limited 10.02 - - -
Bizcrum Infotech Private Limited 0.25 - - -
eTechAces Marketing and Consulting Private 1.83 - - -
Limited
LQ Global Services Private Limited 0.01 - - -
8 Investment in Preference shares
Greytip Software Private Limited 329.96 - - -
Metis Eduventures Private Limited 209.38 - - -
Sunrise Mentors Private Limited 360.95 - - -
Terralytics Analysis Private Limited 50.00 - - -
Shop Kirana E Trading Private Limited 469.62 - - -
Agstack Technologies Private Limited 140.00 - - -
eTechAces Marketing and Consulting Private 4,134.02 - - -
Limited
Happily Unmarried Marketing Private Limited 60.01 - - -
LQ Global Services Private Limited 14.99 - - -
Llama Logisol Private Limited 49.99 - - -
Wishbook Private Limited 14.00 - - -
Medcords Healthcare Solutions Private Limited 69.99 - - -
International Educational Gateway Private Limited 80.00 - - -
Bizcrum Infotech Private Limited 99.75 - - -
Enterprise over Total
which KMP &
Relatives have
significant
influence

-
-
46.90

1.49
2.09
- 4.83

-
-
-
-
-
-
-
-
67.01
-
-
- 423.67

-
-
-
-
-
0.03
0.10
-
-
-
- 1.99

-
-
-
-
-
- 102.76

-
-
-
-
-
-
-
-
-
-
-
-
-
- 6,082.66
 Joint KMP & Independent Non
Ventures Relatives Directors Executive
Sr. No Nature of relationship / transaction Non Executive Directors
& Relatives

9 Investment in Debentures
Printo Document Services Private Limited 50.00 - - -

10 Sitting Fees Paid: - - 0.70 -

Arun Duggal (till December 19, 2019) Bala - - 0.60 - 1.10
Deshpande - - - 1.23 -
Kapil Kapoor Naresh Gupta Sharad Malik Ashish - - 1.05 -
Gupta Geeta Mathur - - 0.60 -
Saurabh Srivastava - - 0.88 -
- - 1.50 -
- -

11 Rent Received
Zomato Media Private Limited Makesense 0.02 - - -
Technologies Limited 0.02 - - -

12 Interest on Unsecured loan/business Advance:

International Educational Gateway Private Limited 0.16 - - -
Medcords Healthcare Solutions Private Limited 0.74 - - -

13 Payment towards Corporate Social Responsibility

activities (refer note no. 41)
International Foundation for Research & Education
- - - -
*including employee share based payments.
(F) Amount due to / from related parties as at March 31, 2020 Am
Joint KMP & Independent Non
Ventures Relatives Directors Executive
Sr. No Nature of relationship / transaction Non Directors
Executive

1 Advances recoverable
Zomato Media Private Limited 0.11 - - -

(G) Terms & conditions

All transactions were made on normal commercial terms and conditions. All outstanding balances are unsecured and are repay
The remuneration to key managerial personnel does not include the provisions made for gratuity and leave benefits, as they a
basis for the Group as a whole

27. Share Based Payments

(1) Info Edge (India) Limited - Employee Stock Option Scheme (ESOP) 2007
The establishment of the Info Edge Limited Employee Option Plan(s) are approved by shareholders at annual general meeting. ESOP s
shareholders through postal ballot on April 16, 2016. The employee stock option plan is designed to provide incentives to employees
designation of managers to deliver long-term returns. Under the plan, participants are granted options which vest upon completion o
the grant date. Participation in the plan is at the board appointed committee’s discretion and no individual has a contractual right 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)
types of share based payment arrangements, have been granted to employees. The scheme only provides for equity settled grants to
employees can purchase equity shares by exercising SAR/options as vested at the exercise price specified in the grant, there is no op
SAR/options granted till March 31, 2021 have a vesting period of maximum 3 years from the date of grant.
 Amount (`Mn)
Enterprise over Total
which KMP &
Relatives have
significant
influence

- 50.00

-
-
-
-
-
-
-
-

7.66

-
-
0.04

-
-
0.90

10.00 10.00

Amount (`Mn)
Enterprise over Total
which KMP &
Relatives have
significant
influence

- 0.11

ing balances are unsecured and are repayable in cash.

for gratuity and leave benefits, as they are determined on an actuarial

olders at annual general meeting. ESOP scheme 2015 was approved by

gned to provide incentives to employees generally at and above the
ed options which vest upon completion of three years of service from
nd no individual has a contractual right to participate in the plan or to

ion Rights (SAR) and Stock options (ESOP), with substantially similar
only provides for equity settled grants to employees whereby the
rice specified in the grant, there is no option of cash settlement. The
date of grant.
 Set out below is a summary of SAR/options granted under the plan:
March 31, 2021
Weighted Number of
Average options
exercise price
per share
option (`)
Opening balance 1,124.49 1,519,068
Granted during the year 3,102.93 120,800
Exercised during the year * 732.51 241,706
Forfeited during the year 1,557.79 84,537
Expired during the year - -
Closing balance 1350.67 1,313,625
Vested and exercisable 773,718
*The weighted average share price at the date of exercise of options exercised during the year ended March 31, 2021 was `4,26
`2,280.63).
Share options outstanding at the end of the year have the following exercise price range :

Exercise price (`) (Range)

0-300

300-600
600-900
900-above
Total
Weighted average remaining contractual life of options outstanding at end of year
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 opt
date, and expected price volatility of the underlying share, the expected dividend yield and the risk free interest rate for the ter
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 exer
years after vesting.

Fair Value of options (` per share)

Share price at measurement date (` per share)
Expected volatility (%)
Dividend yield (%)
Risk-free interest rate (%)
Expected Life (Years)
The expected price volatility is based on the historic volatility (based on the remaining life of options), adjusted for any expected cha

Expense arising from share-based paymen

Total expenses arising from share-based payment transactions recognised in profit or loss as part of employee be

Total employee share-based payment expense (Stock appreciation rights)

Total employee share-based payment expense (Employee Stock Options )
Total-(A)
(B) Employee share based payment expense includes expenses in relation to Applect Learning Systems Private Limited which ceased to ex
02, 2020 is ` 14.48 Mn
Consolidated expense arising from share
Total expenses arising from share-based payment transactions recognised in profit or loss as part of employee be
Total employee share-based payment expense (A)+(B)
 March 31, 2020
Weighted Number of
Average options
exercise price
per share
option (`)
829.25 1,772,238
1,932.22 441,175
790.60 389,206
1,003.42 305,139
- -
1,124.49 1,519,068
693,421
he year ended March 31, 2021 was `4,264.36 (March 31, 2020 -

e:

March 31, March 31, 2020

2021
202,405 282,105

- -
415,035 513,910
696,185 723,053
1,313,625 1,519,068
4.49 4.12

account the exercise price, term of option, the share price at grant
nd the risk free interest rate for the term of option.

of three years. Vested options are exercisable for a period of four

March 31, March 31, 2020

2021
1,307.39 822.81
3,419.39 2,253.74
39.68% 34.71%
0.24% 0.36%
5.24% 6.55%
4.29 4.43
options), adjusted for any expected changes to future volatility due to
publicly available information.
ense arising from share-based payment transactions (refer Note 16)
d in profit or loss as part of employee benefit expense were as follows:
Amount in `Mn

March 31, March 31, 2020

2021
193.98 146.98
55.80 95.95
249.78 242.93
ems Private Limited which ceased to exist our subsidiary from January
02, 2020 is ` 14.48 Mn for year ended March 31, 2020
onsolidated expense arising from share-based payment transactions
d in profit or loss as part of employee benefit expense were as follows:
Amount in `Mn

March 31, March 31, 2020

2021
 249.78 257.41
249.78 257.41
 28. Interests in other entities
(a) Subsidiaries & Controlled trust
The group’s subsidiaries & controlled trust at March 31, 2021 are set out below. They have share capital consisting equity shares, pre
which in substance has an existence ownership that currently gives it access to the returns associated with an ownership interest, tha
group, and the proportion of ownership interests held equals the voting rights held by the group. The country of incorporation or regi
place of business.

Name of entity Place of Ownership interest Ownership interest held Principal activit
business/ held by the group by non-controlling
country of March 31, March 31, interests
March 31, March 31,
incorporation 2021 2020 2021 2020
% % % %
A) Subsidiaries
Allcheckdeals India Private Limited India 100% 100% 0% 0% IT se
Applect Learning Systems Private Limited* India NA 0% NA 0% Education related se
Interactive Visual Solutions Private Limited India 100% 100% 0% 0% IT se
Jeevansathi Internet Services Private Limited India 100% 100% 0% 0% IT se
Naukri Internet Services Limited India 100% 100% 0% 0% IT se
Newinc Internet Services Private Limited India 100% 100% 0% 0% IT se
Smartweb Internet Services Limited India 100% 100% 0% 0% IT se
Startup Internet Services Limited India 100% 100% 0% 0% IT se
Startup Investments (Holding) Limited India 100% 100% 0% 0% Investment a
Diphda Internet Services Limited India 100% 100% 0% 0% IT se
Highorbit Careers Private Limited** India 100% 100% 0% 0% IT se
Redstart Labs (India) Limited*** India 100% NA 0% NA IT Se

B) Controlled Trust
Info Edge Venture Fund India 67% 100% 33% 0% Investment a
* From January 02, 2020 Applect Learning Systems Private Limited ceased to exist our subsidiary
** Subsidiary w.e.f June 25, 2019
*** Subsidiary w.e.f July 07, 2020
(b) Non-controlling interests (NCI)
Set out below is summarised financial information for each Subsidiary and controlled trust that has non-controlling interests that
The amounts disclosed for each subsidiary and controlled trust are before inter-company eliminations.

Summarised balance Sheet Applect Learning Systems Private

Limited
March 31, 2020
Current assets -
Current liabilities -
Net current assets -
Non-current assets -
Non-current liabilities -
Net non-current assets -

Net assets -
Accumulated NCI -

Summarised statement of profit and loss Applect Learning Systems Private

Limited
Upto January 02, 2020

Revenue 245.75

Gain on measurement of investment through FVTPL -

Profit/(loss) for the year (236.68)
Other comprehensive income -
Total comprehensive income/(loss) (236.68)
Profit/(loss) allocated to NCI (81.25)
al consisting equity shares, preference shares and units
with an ownership interest, that are held directly by the
ountry of incorporation or registration is also their principal

Principal activities

IT services
Education related services
IT services
IT services
IT services
IT services
IT services
IT services
Investment activity
IT services
IT services
IT Services

Investment activity

non-controlling interests that are material to the group.

ons.

(Amount in `Mn)
Info Edge Venture
Fund
March 31, 2021
342.78
38.71
304.07
2057.74
0.01
2,057.73

2,361.80
787.27
(Amount in `Mn)
Info Edge Venture
Fund
March 31, 2021

221.80
168.50
-
168.50
17.23
Summarised cash flows Applect Learning Systems Private
Limited
upto January 2, 2020

Cash flows from operating activities -

Cash flows from investing activities -

Cash flows from financing activities -
Net increase/ (decrease) in cash and cash equivalents -
(c) Transactions with non- controlling interests
There were no transactions with non - controlling interests in 2021 and 2020.
(d) Interest in associate and joint ventures
Set out below are the joint ventures/associate of the group as at March 31, 2021 which, in the opinion of the directors, are mater
listed below have share capital consisting equity shares & preference shares which in substance has an existence ownership that c
the returns associated with an ownership interest, which are held directly by the group. The country of incorporation or registrat
place of business, and the proportion of ownership interest is the same as the proportion of voting rights held.

Name of entity Place of % of ownership Interest Accounting Carrying Amount

Business Method
March 31, March 31, 2020 March 31, 2021
Zomato Limited (formerly known as Zomato India 2021
20.65% 27.04% Equity 11,942.53
Private method
Limited andTechnologies
Makesense Zomato Media Private Limited)
Limited India 50.01% 50.01% Equity 1,703.82
Happily Unmarried Marketing Private Limited India 29.88% 42.33% method
Equity 130.68
PB Fintech Private Limited (formerly known as India 6.70% 7.59% method
Equity 4,472.57
Etechaces Marketing and Consulting Private method
Limited)
Immaterial joint ventures/associate (refer note - - 2,911.07
(iii)
below)
Total equity accounted investments 21,160.67
(i) Summarised financial information for joint ventures
The tables below provide summarised financial information for those joint ventures and associates that are material to the group
reflects the amounts presented in the financial statements of the relevant joint ventures and not Info Edge (India) Limited’s shar
have been amended to reflect adjustments made by the entity when using the equity method, including fair value adjustments m
acquisition and modifications for differences in accounting policies.

Summarised balance Sheet Zomato Limited Makesense Happily Unmarried

(formerly known as Technologies Marketing Private
Zomato Private Limited Limited
Limited and Zomato
Media Private
Limited)
March 31, March 31, March 31, March 31, March 31, March 31,
2021 2020 2021 2020 2021 2020
`Mn `Mn `Mn `Mn `Mn `Mn
Current Assets

-Cash & Cash equivalents 3,065.46 1,672.00 0.08 1.05 19.85 9.77
-Other assets 38,439.96 28,264.75 13.37 0.39 454.43 168.36
Total current assets 41,505.42 12,822.93 13.45 1.44 474.28 178.13
Total non-current assets 45,530.00 16,073.26 4,063.22 3,389.58 12.19 15.99

Current liabilities

-Financial liabilities (excluding trade payables) 941.77 2,530.96 - - 85.63 180.69

-Other liabilities 4,235.64 4,569.73 0.17 0.22 56.33 60.08
Total current liabilities 5,177.41 7,100.69 0.17 0.22 141.96 240.77
Total non-current liabilities 927.94 14,762.67 - - 511.03 57.72
Net assets 80,930.07 7,032.82 4,076.50 3,390.80 (166.52) (104.37)
 (Amount in `Mn)
Info Edge Venture
Fund
March 31, 2021

(113.79)

(1,575.51)
750.00
(939.30)

nion of the directors, are material to the group. The entities

s an existence ownership that currently gives it access to
ry of incorporation or registration is also their principal
rights held.

(Amount in `Mn)
Carrying Amount

March 31, 2021 March 31,

11,942.53 2020-

1,703.82 1,360.92
130.68 115.76
4,472.57 4,357.59

2,911.07 2,585.44

21,160.67 8,419.71

that are material to the group. The information disclosed

nfo Edge (India) Limited’s share of those amounts. They
uding fair value adjustments made at the time of

(Amount in `Mn)
PB Fintech Private
Limited (formerly
known as Etechaces
Marketing and
Consulting Private
Limited)
March 31, March 31,
2021 2020
`Mn `Mn

4,387.71 11,038.86
17,007.27 2,070.36
21,394.98 13,109.22
1,912.28 2,650.59

573.08 508.56
1,636.46 1,515.84
2,209.54 2,024.40
1,180.38 1,076.99
19,917.34 12,658.43
 (ii) Reconciliation to carrying amounts (Amount
Zomato Limited Makesense Happily Unmarried
(formerly known as Technologies Marketing Private
Zomato Private Limited Limited Limited
and Zomato Media
Private Limited)
March 31, March 31, March 31, March 31, March 31, March 31,
2021 2020 2021 2020 2021 2020
`Mn `Mn `Mn `Mn `Mn `Mn
Net assets as per the financial of the joint 80,930.07 7,032.82 4,076.50 3,390.80 (166.52) (104.37)
venture
Consolidation adjustments:
Compound instruments treated as equity - - - - - 42.88
Fair value of investment - - 1,345.68 1,345.68 - -
Others (249.76) (249.76) - - - -
80,680.31 6,783.05 5,422.18 4,736.48 (166.52) (61.49)
Group’s share in % 20.65% 27.04% 50.01% 50.01% 29.88% 42.33%
Group’s share in INR 16,660.48 1,834.14 2,711.61 2,368.71 (49.76) (26.03)
Adjustments
- elimination of unrealised profit/Gain on - - (344.27) (344.27) - -
loss
of stake
- additional loss absorbed prior to April 1, - - - - - -
2015
Goodwill - - - - 143.98 143.98
Add/(Less): Reversal/Impairment of - 7.12 - - - -
goodwill/
investments*
Add : Loss attributable to minority not - 51.68 - - - -
considered
Less: Difference in opening net worth due (1400.70) (1,596.02) - - - -
to
change in % holding
Less : Others - (296.93) (663.52) (663.52) (0.24) (2.19)
Less : Reduction in net worth against non (2,911.05) - - - - -
cash issue
Less : Adjustment of items not considered (406.20) - - - 36.70 -
in
equity
Carryingmethod
amount of Investments 11,942.53 - 1,703.82 1,360.92 130.68 115.76
* basis valuation done on actual transaction
Summarised statement of profit and loss Zomato Limited Makesense Happily Unmarried
(formerly known as Technologies Marketing Private
Zomato Private Limited Limited Limited
and Zomato Media
Private Limited)
March 31, March 31, March 31, March 31, March 31, March 31,
2021 2020 2021 2020 2021 2020

Revenue Interest Income `Mn `Mn `Mn `Mn `Mn `Mn

Depreciation and amortisation Interest 19,937.89 26,047.37 - - 371.38 573.82
expense 223.75 264.90 0.90 0.81 0.10 -
Income tax expense 1,377.44 997.56 - - 5.59 4.81
35.60 14.51 - - 0.29 0.23
13.04 - 0.11 0.12 - -
Profit/(loss) for the year (8,164.31) (23,856.01) 690.02 740.52 (228.64) (175.97)
Other comprehensive income/(loss) (58.48) 228.01 (4.33) (1.02) 0.44 (0.35)
Total comprehensive income/(loss) (8,222.79) (23,628.00) 685.69 739.50 (228.20) (176.32)
 (Amount in `Mn)
PB Fintech Private
Limited (formerly
known as Etechaces
Marketing and
Consulting Private
Limited)
March 31, March 31,
2021 2020
`Mn `Mn
19,917.34 12,658.43

- -
- -
- -
19,917.34 12,658.43
6.70% 7.59%
1,334.46 960.77

- -

- -

3,710.45 3,710.45
- -

- -

(265.68) (300.98)

(240.83) -
- -

(65.83) (12.66)

4,472.57 4,357.59

PB Fintech Private
Limited (formerly
known as Etechaces
Marketing and
Consulting Private
Limited)
March 31, March 31,
2021 2020
`Mn `Mn
8,866.62 7,712.97
- -
413.78 472.95
115.24 119.20
- -
(1,502.42) (3,040.32)
(30.38) 8.90
(1,532.80) (3,031.42)
 (iii) Individually immaterial joint ventures/associate
In addition to the interests in joint ventures disclosed above, the group also has interests in a number of individually immaterial j
are accounted for using the equity method

Aggregate carrying amount of individually immaterial Joint ventures/associate Aggregate amounts of the
group’s share of:
Loss for the year
Other comprehensive income for the year

Total comprehensive income

(iv) Share of profits/(loss) from joint ventures/associate (Amou

Loss from joint ventures/associate

Other comprehensive income from joint ventures/associate
Total Comprehensive income/(loss) from joint ventures/associate
29 The Group is primarily in the business of internet based service delivery operating in four service verticals through various web p
namely recruitment solutions comprising primarily [Link], other recruitment related portals and ancillary services related to rec
real estate related services, [Link] for matrimony related services and [Link] for education related services.
The Board of Directors of the Company examines the Company’s performance both from a business & geographical prospective and ha
segment of its business which are “Recruitment Solutions” and “99acres” ; the “Other segments” comprises primarily of Jeevansathi,
verticals which are not considered as reportable operating segment since they individually do not meet qualifying criteria for the rep
108.
A) Business Segment Amount in (`Mn)

Particular
1 Segment Revenue:
Recruitment solutions
99acres for real estate
Others
Segment Revenue-Total
2 Results (Profit/(Loss)) after tax:
Recruitment Solutions
99acres for real estate
Others
Total Segment Result
Less: unallocable expenses
Add : unallocated Income
Exceptional Item - Income/(Loss)
Profit Before Tax
Tax Expense
Profit after tax
3 Assets
Recruitment solutions
99acres for real estate
Others
Total Segment Assets
Unallocable assets
Total assets
4 Liabilities
Recruitment solutions
99acres for real estate
Others
Total Segment Liabilities
Unallocable liabilities
Total Liabilities
Significant clients
No client individually accounted for more than 10% of the revenues in the year ended March 31, 2021 & March 31, 2020.
 in a number of individually immaterial joint ventures/associate that

(Amount in `Mn)
March 31, 2021 March 31,
2,911.07 2020
2,585.44
(356.24) (225.74)
(0.08) (0.67)

(356.32) (226.41)
(Amount in `Mn)
March 31, 2021 March 31,
(2,118.73) 2020
(7,290.18)
25.83 20.50
(2,092.90) (7,269.68)
r service verticals through various web portals in respective verticals
tals and ancillary services related to recruitment, [Link] for
m for education related services.
siness & geographical prospective and has identified as reportable
nts” comprises primarily of Jeevansathi, Shiksha and Coaching services
not meet qualifying criteria for the reportable segment as per Ind AS

Amount in (`Mn)

March 31, 2021 March 31,

2020
7,926.07 9,215.62
1,737.78 2,279.61
1,537.37 1,624.07
11,201.22 13,119.30

4,047.80 4,735.26
(356.95) (57.91)
(1,135.44) (1,013.08)
2,555.41 3,664.27
(2,497.43) (7,787.60)
1,493.96 1,044.65
14,341.16 1,821.06
15,893.10 (1,257.62)
1,805.06 1,199.86
14,088.04 (2,457.48)

633.16 658.57
234.21 242.77
243.26 990.08
1,110.63 1,891.42
62,964.25 27,097.50
64,074.88 28,988.92

4,666.58 4,162.60
1,276.68 1,032.30
912.30 1,302.55
6,855.56 6,497.45
1,836.50 535.91
8,692.06 7,033.36
ch 31, 2021 & March 31, 2020.
Particulars March 31, 2021 March 31, 2020
Domestic Overseas Unallocated Total Domestic Overseas
Revenue from customers (sale of services) 10,412.73 788.49 - 11,201.22 12,201.47 917.83
Segment assets 35,838.73 151.46 28,084.69 64,074.88 12,433.45 125.37
Notes :-
a) Domestic segment revenue includes sales and services to customers located in India and overseas segment (primarily in Gulf
sales and services rendered to customers located outside India. Segment revenue is measured in the same way as in the Statem
b) Segment assets includes fixed assets, trade receivables, cash and bank balances (except dividend bank account), loans & adv
assets and are measured in the same way as in the financial statements. These assets are allocated based on the operations of t
location of the assets. Unallocated assets include dividend bank accounts, investments, Interest accrued and Deferred Tax asse
c) Segment liabilities includes borrowings, trade payable, other current liabilities, provisions and other financials liabilities. Seg
in the same way as in the financial statements. These liabilities are allocated based on the operations of the segment.

30. As at March 31, 2021 the Group had `0.50 Mn (March 31, 2020: `0.56 Mn) outstanding with Yes Bank, `0.05 Mn (March 31, 2020 `
ICICI Bank, `0.14 Mn (March 31, 2020 `0.09 Mn) outstanding with HDFC Bank and `0.08 Mn (March 31, 2020 `0.08 Mn) outstanding wit
dividend. These amounts are not available for use by the Company and will be credited to Investor Education & Protection Fund as an
31. Employee Benefits
The Group has classified the various benefits provided to employees as under:
A. Defined Contribution Plans
The Group has a defined contribution plan in respect of provident fund. The minimum amount of contribution to be made by the emp
of wages, subject to ceiling of ` 1800 per month as defined under the Employees Provident Fund Scheme,1952. The contributions are
fund administered by the Government. The obligation of the group is limited to the amount contributed and it has no further contrac
obligation.
During the year, the Group has recognised the following amounts towards define contribution plan in the Statement of Profit and Los

Particulars Year ended

March 31,
2021 (`Mn)
Employers’ Contribution to Provident Fund 103.98
Included in Contribution to provident and other funds’ under Employee Benefits Expense (Refer Note 16).
B. Other Long term benefits
Leave obligations for Employees
The leave obligations cover the Group’s liability for earned leave.
The amount of the provision for ` 93.14 Mn (31 March 2020 - `69.40 Mn) is presented as current and non current, to the extent gr
unconditional right to defer settlement for any of these obligations. However, based on past experience, the group does not expe
full amount of accrued leave or require payment with in the next twelve months.

Particulars March 31,

Current leave obligations expected to be settled with in the next twelve months 2021
47.23
Assumption used by the Actuary
Particulars Leave Encashment / Compensated Absences
March 31, 2021 March 31,
Discount Rate (per annum) 5.75% to 5.85% 5.65% to
Rate of increase in Compensation levels 10% for First 5 years & 8% 10% for First 5 year
thereafter
The estimates of future salary increases considered in the actuarial valuation takes into account therp
factors like inflation, seniority,
factors.
C. Defined Benefit Plans
Contribution to Gratuity Funds – Life Insurance Corporation of India, Group Gratuity Scheme
The Group provides for gratuity for employees in India as per the Payment of Gratuity Act, 1972. Employees who are in continuou
years are eligible for gratuity. The amount of gratuity payable on retirement/termination is the employees last drawn basic salar
proportionately for 15 days salary multiplied for the number of years of service. The Gratuity plan of the parent and all of the sub
except for one subsidiary in the group plan of which is unfunded.
 B) Geographical Segment
Amount (`Mn)
March 31, 2020
Unallocated Total
- 13,119.30
16,430.10 28,988.92

rseas segment (primarily in Gulf countries) revenue includes

n the same way as in the Statement of Profit and loss.
idend bank account), loans & advances and other current
ated based on the operations of the segment and the physical
st accrued and Deferred Tax asset.
nd other financials liabilities. Segment liabilities are measured
erations of the segment.

Bank, `0.05 Mn (March 31, 2020 `0.05 Mn) outstanding with

, 2020 `0.08 Mn) outstanding with Indusind Bank as unclaimed
Education & Protection Fund as and when due.

ntribution to be made by the employer is set at a rate of 12%

heme,1952. The contributions are made to registered provident
uted and it has no further contractual nor any constructive

n the Statement of Profit and Loss :

Year ended Year ended

March 31, March 31, 2020
2021 (`Mn) (`Mn)
103.98 103.91
Note 16).

and non current, to the extent group does not have an

erience, the group does not expect all employees to take the

(Amount in `Mn)
March 31, March 31, 2020
2021
47.23 30.67

/ Compensated Absences
March 31, 2020
5.65% to 6.60%
10% for First 5 years & 8%
thereafter
factors like inflation, seniority, promotions and other relevant

Employees who are in continuous service for a period of 5

employees last drawn basic salary per month computed
an of the parent and all of the subsidiaries are funded plan
 Assumption used by the Actuary
Particulars Gratuity
March 31, 2021 March 31
Discount rate (per annum) 5.75% to 5.85% 5.65% to
Rate of increase in compensation levels 10% for First 5 years & 8% 10% for First 5 yea
The amounts recognised in the balance sheet & movements in the net defined benefit thereafter the
obligation over the year are as follow
Changes in the Present Value of Obligation

Present Value of Obligation at the beginning of the year

Reversal due to Disposal of subsidiary
Addition due to subsidiary
Interest Cost
Past Service Cost
Current Service Cost
Benefits paid
Remeasurement due to
-Actuarial loss/(gain) arising from change in financial assumptions
-Actuarial loss/(gain) arising on account of experience changes
-Actuarial loss/(gain) arising on account of demographical assumptions

Present Value of Obligation at the end of the year

Changes in the Fair value of Plan Assets

Fair Value of Plan Assets at the beginning of the year

Interest on Plan Assets
Actuarial Gains/(Losses)
Addition due to subsidiary
Contributions made by the Group
Actual Return on plan assets less interest on plan assets
Assets acquired/settled*
Benefits Paid
Fair Value of Plan Assets at the end of the year
* on account of inter group transfer
Reconciliation of Present Value of Defined Benefit Obligation and the Fair value of Assets

Present Value of funded obligation at the end of the year

Fair Value of Plan Assets as at the end of the period
Amount not recognised due to asset limit
Deficit of funded plan#
Deficit of unfunded plan
Total deficit
-Current
-Non Current
The present value of the defined benefit obligation primarily relates to active employees.
Expense recognised in the Statement of Profit and Loss

Current Service Cost

Interest Cost
(Gains)/Loss on Settlement
Total Expenses recognized in the Statement of Profit and Loss #
#Included in ‘Contribution to provident and other funds’ under ‘Employee benefits expense’ (Refer Note 16)
 Gratuity
March 31, 2020
5.65% to 6.60%
10% for First 5 years & 8%
thereafter
obligation over the year are as follows :
March 31, March 31, 2020
2021
(`Mn) (`Mn)
454.29 358.98
- (13.91)
- 5.32
25.53 24.32
- -
72.04 60.21
(23.96) (36.70)

(4.49) 47.80
(18.60) 8.31
(5.21) (0.03)

499.60 454.29
March 31, March 31, 2020
2021
(`Mn) (`Mn)
319.22 266.01
17.67 18.53
4.14 (9.81)
- 0.48
35.41 80.30
(0.03) (0.32)
- 0.07
(23.96) (36.04)
352.45 319.22

March 31, March 31, 2020

2021
(`Mn) (`Mn)
(499.60) (454.29)
352.45 319.22
- -
(147.15) (135.08)
- -
(147.15) (135.08)
138.80 128.73
8.35 6.35
s.
March 31, March 31, 2020
2021
(`Mn) (`Mn)
72.04 60.21
7.86 5.82
Nil Nil
79.90 66.03
Amount recognised in Other comprehensive Income (OCI) March 31, 2021
(`Mn)
Remeasurement during the year due to
-changes in financial assumptions (4.49)
-changes in demographic assumptions (5.21)
-Experience adjustments (18.60)
-Actual return on plan assets less interest on plan assets (4.11)
Amount recognised in OCI during the year (32.41)
(D) Sensitivity analysis
The sensitivity of the defined benefit obligation to changes in the weighted principal assumption is:
1) Info Edge (India) Limited

March 31, 2021

Defined benefit obligation (DBO) 488.59
Impact on defined benefit obligation
Change in Increase in assumption
assumption
March 31, March 31, March 31, March 31,
2021 2020 2021 2020 Increase by
Discount Rate 0.50% 0.50% Decrease by -4.20% -4.10% Decrease by
Salary growth rate 0.50% 0.50% Increase by 2.80% 2.80%
2) Allcheckdeals India Private Limited
March 31, 2021
Defined benefit obligation (DBO) -
Impact on defined benefit obligation
Change in assumption Increase in assumption
March 31, March 31, March 31, March 31,
2021 2020 2021 2020 Increase by
Discount Rate - 0.50% Decrease by - -4.30% Decrease by
Salary growth rate - 0.50% Increase by - 4.50%
3) Smartweb Internet Services Limited
March 31, 2021
Defined benefit obligation (DBO) 1.24
Impact on defined benefit obligation
Change in Increase in assumption
assumption
March 31, March 31, March 31, March 31,
2021 2020 2021 2020
Discount Rate 0.50% 0.50% Decrease by -4.50% 5.30% Increase by
Salary growth rate 0.50% 0.50% Increase by 3.90% 4.80% Decrease by
4) Highorbit Careers Private Limited*
March 31, 2021
Defined benefit obligation (DBO) 9.77
Impact on defined benefit obligation
Change in Increase in assumption
assumption
March 31, March 31, March 31, March 31,
2021 2020 2021 2020
Discount Rate 1.00% 1.00% Decrease by -8.00% -7.90% Increase by
Salary growth rate 1.00% 1.00% Increase by 5.30% 5.50% Decrease by
* Subsidiary w.e.f June 25, 2019
The above sensitivity analysis are based on a change in an assumption while holding all other assumptions constant. In practice, t
changes in some of the assumptions may be correlated. When calculating the sensitivity of the defined benefit obligation to signif
the same method (present value of the defined obligation calculated with the projected unit credit method at the end of reportin
as when calculating the defined benefit liability recognised in the balance sheet.
The methods and types of assumptions used in preparing the sensitivity analysis did not change compared to the prior year.
 March 31, 2021 March 31,
(`Mn) 2020
(`Mn)

(4.49) 47.80
(5.21) (0.03)
(18.60) 8.31
(4.11) 9.85
(32.41) 65.93

is:

March 31, 2021 March 31,

488.59 2020
445.61
efined benefit obligation
Decrease in assumption
March 31, March 31,
2021 2020
4.50% 4.40%
-2.80% -2.70%

March 31, 2021 March 31,

- 2020
0.20
efined benefit obligation
Decrease in assumption
March 31, March 31,
2021 2020
- 4.70%
- -4.20%

March 31, 2021 March 31,

1.24 2020
0.54
efined benefit obligation
Decrease in assumption
March 31, March 31,
2021 2020
4.80% -5.00%
-3.80% -4.90%

March 31, 2021 March 31,

9.77 2020
7.82
efined benefit obligation
Decrease in assumption
March 31, March 31,
2021 2020
9.40% 9.20%
-5.30% -5.80%

mptions constant. In practice, this is unlikely to occur, and

fined benefit obligation to significant actuarial assumptions
dit method at the end of reporting period) has been applied

ompared to the prior year.

 (E) Major Category of Plan Asset as a % of total Plan Assets
Category of Assets (% Allocation) As at March 31, As at March 31,
2021 2020
%
Insurer managed funds 100.00% 100.00%
Total 100.00% 100.00%
(F) Risk exposure
Through its defined benefit plans, the group is exposed to a number of risks, the most significant of which are detailed belo
Asset volatility The plan liabilities are calculated using a discount rate set with reference to bond yields; if plan assets underperfor
a deficit. The gratuity fund is administered through Life Insurance Corporation of India (insurer) under its group gratuity scheme.
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 va
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
Expected contribution to the post employment benefit plan (Gratuity) for the year ending March 31, 2021 is ` 212.21 Mn The weig
defined benefit obligation is 9 to 11 years (March 31, 2021- 4.49 to 8 years).
The expected maturity analysis of undiscounted post employment benefit plan (gratuity) is as follows :

Particulars Less than a year Between 1-2 years Between 2-5 years
March 31, 2021
Defined benefit obligation (gratuity) 60.15 54.58 137.74

March 31, 2020

Defined benefit obligation (gratuity) 56.12 50.26 128.60

32. Regulation 34(3) read with para A of Schedule V to Securities And Exchange Board of India (Listing Obligations And Disclosu
Regulations, 2015:
Particulars

Advance to Joint venture- Zomato Limited (formerly known as Zomato Private Limited and Zomato Media
Private Limited)
Balance at the year end
Maximum amount outstanding at any time during the year

Advance to Joint venture- Makesense Technologies Ltd.

Balance at the year end
Maximum amount outstanding at any time during the year

Advance to Joint venture- Sunrise Mentors Private Limited

Balance at the year end
Maximum amount outstanding at any time during the year
33. During the year ended March 31, 2021, the holding Company has issued 200,000 nos. equity shares (March 31, 2020; 400,000 nos.
up `10/- respectively) each fully paid up at `10/- per share respectively to Info Edge Employees Stock Option Plan (ESOP) Trust, whic
respective Stock Exchanges, ranking pari passu with the existing equity shares of the Company. The ESOP trust has in turn issued 188,
258,558 nos. equity shares fully paid up to the employees during the year ended March 31, 2021 & March 31, 2020 respectively.
 As at March 31, As at March 31,
2021 2020
(`Mn) (`Mn)
352.45 318.89
352.45 318.89

t significant of which are detailed below:

to bond yields; if plan assets underperform this yield, this will create
nsurer) under its group gratuity scheme. Accordingly almost the entire
sk which is managed by the insurer.
e partially offset by an increase in the value of the plans’ assets

ts Group Gratuity Scheme.

g March 31, 2021 is ` 212.21 Mn The weighted average duration of the

is as follows :

Over 5 years Total

678.63 931.00

581.40 816.37
f India (Listing Obligations And Disclosures Requirements)

March 31, 2021 March 31,

(`Mn) 2020
(`Mn)

0.13 0.08
0.13 0.08

- -
0.02 0.03

0.01 -
0.12 -
uity shares (March 31, 2020; 400,000 nos. equity shares each fully paid
ees Stock Option Plan (ESOP) Trust, which have been duly listed in the
ny. The ESOP trust has in turn issued 188,918 nos. equity shares and
021 & March 31, 2020 respectively.
 34. During the year ended March 31, 2015, the Company had issued 10,135,135 nos. equity shares of `10/- each fully paid up at `740
securities premium of `730/- per share) to qualified institutional buyers on September 12, 2014 pursuant to Qualified Institutional Pla
dated September 10th, 2014, as per provisions of section 42 of Companies Act, 2013 read with rule 14 of the Companies (Prospectus a
Rules 2014, and Chapter VIII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations
in the respective Stock Exchanges on September 16, 2014.
Expenses incurred in relation to QIP amounting to `155.65 Mn had been adjusted from Securities Premium Account during the year en
utilisation out of such net amount of `7,344.35 Mn till March 31, 2021 is given below. The balance amount of QIP proceeds remains in
banks.
Utilisation of funds

Balance Unutilised funds as at the beginning of the year

Utilised during the year-working capital and general corporate purposes (99acres)
Balance Unutilised funds as at the year end
35. During the year ended March 31, 2021 , the Company had issued 6,067,961 nos. equity shares of `10/- each fully paid up at ` 3,0
securities premium of ` 3,080/- per share) to qualified institutional buyers on August 08, 2020 pursuant to Qualified Institutional Plac
August 07, 2020, as per provisions of section 42 of Companies Act, 2013 read with rule 14 of the Companies (Prospectus and Allotmen
and Chapter VIII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 which
respective Stock Exchanges on August 10, 2020.
Expenses incurred in relation to QIP paid/provided for amounting to ` 459.68 Mn has been adjusted from Securities Premium Account
net amount of ` 18,290.32 Mn till March 31, 2021 is given below. The balance amount of QIP proceeds remains invested in Term Depo
Utilisation of funds

Balance Unutilised funds

Utilised during the period
Balance Unutilised funds as at the year end
36. Exceptional Items
Particulars

Diminution in value of investment in Jointly Controlled Entities

(Refer note a below)
Gain on disposal of Subsidiary
(Refer note b below)
Impairment of Goodwill
(Refer note c below)
Gain on reduction in control in Joint Venture Entities
(Refer note d below)
Total Income
a) During the year, a provision for diminution in the carrying value of investments amounting to ` 32.24 Mn (March 31, 2020 : ` 30
32.95 Mn, ` 47.83 Mn & ` 120.60 Mn) has been recorded in respect of Happily Unmarried Marketing Private Limited (March 31, 202
Private Limited, Unnati Online Private Limited, Ideaclicks Infolabs Private Limited , Wishbook Infoservices Private Limited & Print
Limited ) respectively to recognise a decline, other than temporary in the value of the investment
b) During the previous year ended March 31, 2020, a gain of ` 1,046.47 Mn has been recorded which is arising due to disposal of s
Systems Private Limited.
c) During the previous year ended March 31, 2020, an impairment loss has been recorded for the carrying value of Goodwill amou
of Interactive Visual Solutions Private Limited.
d) During the year ended March 31, 2021 a gain of ` 14,373.40 Mn (March 31, 2020 : ` 1,071.48 Mn) has been recorded which is a
on account of reduction in interest of the group in its Joint venture entities.

37. The Social Security 2020 (Code), which received the President Assent on September 28, 2020 subsumes nine laws relating to soc
employee benefits, including the Employees Provident Fund and Miscellaneous Provisions Act, 1952 and Payment of Gratuity Act, 197
Code is yet to be notified. The Group will assess and record the impact of the Code, if any, when it comes into effect.
38. Post Balance sheet date, Zomato Limited (formerly known as Zomato Private Limited and Zomato Media Private Limited), the jo
draft red herring prospectus with market regulator for initial public offer (“IPO”) of its equity shares. The Board of Directors of the C
on April 27, 2021, has, subject to statutory approvals, approved to participate in offer for sale (“OFS”) as ‘selling shareholder’ to sell
would aggregate upto `7,500 Mn.
hares of `10/- each fully paid up at `740/- per share (including
14 pursuant to Qualified Institutional Placement (QIP) document,
h rule 14 of the Companies (Prospectus and Allotment of Securities)
nd Disclosure Requirements) Regulations, 2009 which have been listed

ties Premium Account during the year ended March 31, 2015. The
ance amount of QIP proceeds remains invested in Term Deposits with

March 31, 2021 March 31,

(`Mn) 2020
(`Mn)
3,514.50 4,568.46
714.38 1,053.96
2,800.12 3,514.50
hares of `10/- each fully paid up at ` 3,090/- per share (including
0 pursuant to Qualified Institutional Placement (QIP) document, dated
he Companies (Prospectus and Allotment of Securities) Rules 2014,
e Requirements) Regulations, 2009 which have been listed in the

justed from Securities Premium Account and the utilisation out of such
proceeds remains invested in Term Deposits with banks.
March 31,
2021
(`Mn)
18,290.32
167.24
18,123.08

March 31, 2021 March 31,

(`Mn) 2020
(`Mn)
32.24 259.94

- (1,046.47)

- 36.95

(14,373.40) (1,071.48)

(14,341.16) (1,821.06)
ting to ` 32.24 Mn (March 31, 2020 : ` 30.51 Mn, ` 28.05Mn, `
Marketing Private Limited (March 31, 2020 : Vcare Technologies
book Infoservices Private Limited & Printo Document Services Private
vestment
rded which is arising due to disposal of subsidiary i.e. Applect Learning

for the carrying value of Goodwill amounting to ` 36.95 Mn in respect

071.48 Mn) has been recorded which is arising due to deemed disposal

2020 subsumes nine laws relating to social security retirement and

, 1952 and Payment of Gratuity Act, 1972. The effective date of the
when it comes into effect.
d Zomato Media Private Limited), the joint venture company, has filed
y shares. The Board of Directors of the Company during their meeting
e (“OFS”) as ‘selling shareholder’ to sell such number of shares as
 39. The Board of Directors in their meeting held on November 10, 2020 had approved the Scheme of Amalgamation between Info Edg
Company), and Highorbit Careers Private Limited (Transferor Company), the wholly owned subsidiary of the Transferee Company. Su
obtained approval for the scheme from its shareholders and secured and unsecured creditors in their respective meetings held on Apr
by Hon’ble National Company Law Tribunal, New Delhi bench (“NCLT”). The next hearing has been scheduled on July 8, 2021. The re
and disclosure shall be made in due course in accordance with applicable IND AS.
40. Based on the information available with the Group, the Group has no dues to suppliers registered under the “The Micro, Small an
Development Act, 2006”(‘MSMED Act’). The disclosures pursuant to the said MSMED Act are as follows:
Particular

Principal amount due to suppliers registered under the MSMED Act and remaining unpaid as at year end
Interest due to suppliers registered under the MSMED Act and remaining unpaid as at year end
Principal amounts paid to suppliers registered under the MSMED Act, beyond the appointed day during the year
Interest paid, other than under Section 16 of MSMED Act to suppliers registered under the MSMED Act, beyond
the
appointed dayunder
Interest paid, duringSection
the day16 of MSMED Act to suppliers registered under the MSMED Act, beyond the
appointed
day during the day
Interest due and payable towards suppliers registered under MSMED Act, for payments already made
Further interest remaining due and payable for earlier years
41. As per Section 135 of the Companies Act, 2013 (‘Act’), a Corporate Social Responsibility (CSR) committee had been formed by th
CSR activities, as per the CSR policy of the Company are promoting education, training to promote sports and contribution to appropr
Central Government, further the CSR Committee may consider other CSR activities subject to the condition that such activities relate
in Schedule VII of the Act.
Details of corporate social responsibility (CSR) are as below :
Particulars

Gross amount required to be spent by the Company during the year

Gross amount required to be spent by the Company during the year
Total amount required to be spent by the Company
Amount spent (paid) by the Company during the year primarily in the field of education (operating expenditure
in
relations to various associations as detailed below) and on administrative expense.
[Link]. Vendor Name

1 Amar Jyoti Charitable Trust

2 Behavior Momentum India Foundation
3 Bharatiya Yuva Shakti Trust
4 Centrals Square Foundation
5 Chintan Environmental Research And Action Group
6 Dakshana India Educational Trust Fund
7 Foundation of Arts for Social Change in India
8 Ghanshyamdas Jain Charitable Trust
9 Indian Institute of Technology, Kanpur
10 International Foundation for Research & Education
11 Indian Institute of Technology, Delhi IRD Unit
12 Jagriti Sewa Sansthan
13 Jayaprakash Narayan Memorial Trust
14 Joint Women’s Programme
15 Khwaab Welfare Trust
16 Language And Learning Foundation
17 Life And Beauty Medicare [Link]
18 Literacy India
19 Milaan Be The Change
20 Mitra Technology Foundation
21 Pragatee Foundation
22 Reimagining Higher Education Foundation
heme of Amalgamation between Info Edge (India) Limited (Transferee
ubsidiary of the Transferee Company. Subsequently, the company
in their respective meetings held on April 12, 2021 as per directions
been scheduled on July 8, 2021. The requisite accounting treatment

egistered under the “The Micro, Small and Medium Enterprises

s follows:
March 31, March 31, 2020
2021
(`Mn) (`Mn)
- -
- -
- -
- -

- -

- -
- -
(CSR) committee had been formed by the Group. The main areas for
mote sports and contribution to appropriate funds set up by the
the condition that such activities relate to the subjects enumerated

Year ended Year ended

March 31, March 31, 2020
2021 (`Mn) (`Mn)
80.32 71.13
6.64 37.00
86.96 108.13
86.96 101.49

Year ended Year ended

March 31, March 31, 2020
2021 (`Mn) (`Mn)
2.30 -
2.00 2.30
4.50 4.20
0.47 -
3.61 8.56
- 3.30
0.50 -
1.50 1.70
5.00 -
11.50 10.00
- 5.00
- 2.00
0.52 -
1.39 2.30
1.50 1.50
4.95 1.80
2.46 -
1.20 1.10
1.05 -
- 2.00
0.50 -
22.00 20.00
[Link]. Vendor Name

23 Saajha
24 Samarpan Foundation
25 Sarthak Educational Trust
26 Shally Education Foundation (Saarthi Education)
27 Simple Education Foundation
28 Social Outreach Foundation
29 Sportvolt Professional Services Limited
30 Swami Sivananda Memorial Institute
31 Teach to Lead
32 Trust For Retailers & Retails Associates of India
Total (A)

33 Amount spent towards administrative overhead (B)

Total (A)+(B)
42. Business combination
(a) Summary of acquisition
On June 25, 2019, Info Edge (India) Limited acquired 100% of the issued share capital of Highorbit Careers Private Limited.
Highorbit Careers Private Limited is engaged in the business of providing online classifieds, database, digital platform and recruitmen
and employability vertical.
The acquisition will help in business synergies.
Details of the purchase consideration, the net assets acquired and goodwill are as follows:

Purchase consideration
Cash paid
Total purchase consideration
The assets and liabilities recognised as a result of the acquisition are as follows:

Property, plant and equipment

Intangible assets: Brand
Intangible assets: Technology Platform
Intangible assets: Customer Relationship
Deferred Tax assets
Trade receivables*
Cash & Cash equivalents
Other financial Assets (current & non current)
Trade payable
Other liabilities

Net identifiable assets acquired

* the trade receivables is credit impaired and it is expected that the full contractual amounts can be collected.
Calculation of goodwill
Consideration transferred
Less: Net identifiable assets acquired
Goodwill
From the date of acquisition till previous year ended March 31, 2020, Highorbit Careers Private Limited contributed ` 148.47 Mn
loss before tax of the Group. If the combination had taken place at the beginning of year ended 31 March 2020, the Group’s rev
have been ` 14,212.29 Mn and the loss before tax would have been ` 1,294.91 Mn.
 Year ended Year ended
March 31, March 31, 2020
2021 (`Mn) (`Mn)
2.40 11.05
- 2.80
2.30 2.30
2.20 -
1.50 1.00
1.50 1.50
0.42 -
2.70 5.25
3.00 -
- 8.26
82.97 97.92

3.99 3.57

86.96 101.49

orbit Careers Private Limited.

atabase, digital platform and recruitment solutions in the recruitment

Amount (`Mn)
808.25
808.25

Amount (`Mn)
5.45
155.50
22.10
78.30
0.94
36.73
7.89
107.84
(0.99)
(138.17)

275.59
mounts can be collected.
Amount (`Mn)
808.25
(275.59)
532.66
Private Limited contributed ` 148.47 Mn of revenue and ` 34.44 Mn to
ar ended 31 March 2020, the Group’s revenue from operations would
 43. Income Tax Expenses
This note provides an analysis of the Group’s income tax expense, show amounts that are recognised directly in equity and how the t
assessable and non-deductible items. It also explains significant estimates in relation to the Company’s tax position.
a) Income Tax expense

Particulars

Current Tax
Current tax on profit for the year

Total current tax expenses

Deferred Tax

Total
b) Reconciliation of tax expense and the accounting profit multiplied by tax rate:

Particulars

Profit before tax and exceptional item

Tax at the Indian tax rate of 25.168% (March 31, 2020 : 25.168%)

Tax effect of amounts which are not deductible (taxable) in calculating taxable income:
Depreciation on Land (including investment property)
Corporate social responsibility expenditure
Dividend Income on Mutual Fund
Impact of IndAS 116
Fair value of financial instruments
Profit on sale of investment (separately considered in capital gains)
Impact of difference of Tax rate
Profit on sale of Property, Plant & equipment
Interest cost on financial liabilities at amortized cost
Deferred tax not created on-
Share of loss of joint venture on which no deferred tax has been recognized
Reversal of Deferred Tax
Loss of subsidiaries companies and controlled trust not required tax
Deferred tax created/reversed on items not included in profit
Brought forward of losses
Additional ‘ESOP charges
Difference in carrying value of Joint Venture
Others items
A)

Capital gain on profit on sale of Investment

B)

Total
ognised directly in equity and how the tax expense is affected by non-
ompany’s tax position.

Year ended Year ended

March 31, March 31, 2020
2021 (`Mn)
(`Mn)

796.72 1,106.73

796.72 1,106.73

1,008.34 93.13

1,805.06 1,199.86

Year ended Year ended

March 31, March 31, 2020
2021 (`Mn)
(`Mn)
1,551.94 (3,078.68)
390.59 (774.84)

0.49 0.49
20.22 27.24
- (15.80)
14.25 16.69
(55.99) (11.92)
(6.49) (20.34)
- 116.25
(0.16) (0.16)
0.17 11.92

533.25 1,834.79
- 21.88
15.37 101.28

(6.45) -
(180.17) (140.45)
1,049.10 -
30.88 12.47
1,414.47 1,954.34

- 20.36
- 20.36

1,805.06 1,199.86
 44 . Fair value measurements
a) Financial instruments by category

March 31, 2021 March 31, 2020

Fair value Fair value Amortised cost Fair value
through profit through OCI through profit
or loss or loss
Financial Assets
Loans - - 62.10 -
Investments
- Mutual Funds - - - 2,554.03
- Non current investment 2,057.74 25.96 - 356.16

Trade receivables - - 63.74 -

Cash and cash Equivalents - - 6,402.52 -
Other bank balances - - 19.77 -
Other financial assets - - 30,079.87 -
Total Financial Assets 2,057.74 25.96 36,628.00 2,910.19

Financial Liabilities
Borrowings - - 2.44 -
Payables to unit holders - - 1.61 -
Trade payables - - 643.37 -
Lease Liability - - 648.47 -
Total Financial Liabilities - - 1,295.89 -
Fair value hierarchy
The following section explains the judgements and estimates made in determining the fair values of the financial instruments tha
measured at fair value through profit or loss. To provide an indication about the reliability of the inputs used in determining fair
classified its financial investments into the three levels prescribed under the accounting standard. An explanation of each level fo
b) Fair value hierarchy for assets
Financial assets measured at fair value at March 31, 2021 Amou

Level 1 Level 2
Financial Assets
Investments
- Mutual Funds-Fixed Maturity Plans - -
- Mutual Funds-Daily Dividend & Debt Liquid Fund - -
- Non current investments - 2,083.70
Financial assets measured at fair value at March 31, 2020 Amo
Level 1 Level 2
Financial Assets
Investments
- Mutual Funds-Fixed Maturity Plans - -
- Mutual Funds-Daily Dividend & Debt Liquid Fund 2,554.03 -
- Non current investments - 356.16
Notes:
Level 1 hierarchy includes financial instruments measured using quoted prices (unadjusted) in active market for identical assets
the measurement date. This represents mutual funds that have price quoted by the respective mutual fund houses and are valu
value(NAV).
Level 2 hierarchy includes the fair value of financial instruments measured using quoted prices for identical or similar assets in
Level 3 If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3. Th
compound instruments.
There are no transfers between any of these levels during the year. The Company’s policy is to recognise transfers into and tran
hierarchy levels as at the end of the reporting period.
 Amount (`Mn)
March 31, 2020
Fair value Amortised cost
through OCI

- 30.44

- -
- -

- 91.15
- 5,271.08
- 20.58
- 7,954.66
- 13,367.91

- 6.23
- -
- 634.15
- 766.58
- 1,406.96

ir values of the financial instruments that are recognised and

ty of the inputs used in determining fair value, the Company has
standard. An explanation of each level follows underneath the table.

Amount (`Mn)

Level 3 Total

- -
- -
- 2,083.70
Amount (`Mn)
Level 3 Total

-
- -
- 2,554.03
- 356.16

ted) in active market for identical assets that the entity can access at
pective mutual fund houses and are valued using the closing Net asset

d prices for identical or similar assets in markets that are not active.
the instrument is included in level 3. This is the case for unlisted

icy is to recognise transfers into and transfers out of fair value

 c) Valuation techniques used to determine fair value
Specific valuation techniques used to value financial instruments include:
- the use of quoted market prices or mutual fund houses quotes (NAV) for such instruments. This is included in Level 1.
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 trad
be the same as their fair values, due to their short-term nature. The fair values for security deposits and borrowings are calculate
discounted using a current lending rate, however the change in current rate does not have any significant impact on fair values as
For financial assets and liabilities that are measured at fair value, the carrying amounts are equal to the fair values.
(e) Fair value measurements using significant unobservable inputs (level 3)
There is Nil balance in Level 3 items for the period ended March 31, 2021 and previous year ended March 31, 2020
(f) Valuation processes
The Group uses third party valuers to perform the valuations of the unquoted equity shares, preference shares and debentures re
purposes for Level 3 purposes.
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 assess
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
Significant estimates
The fair value of financial instruments that are not traded in an active market is determined using valuation techniques. The grou
a variety of methods and make assumptions that are mainly based on market conditions existing at the end of each reporting peri
assumptions used and the impact of changes to these assumptions see (c) and (f) above.

45. Financial risk and Capital management

A) Financial risk management framework
The Group’s board of directors has overall responsibility for the establishment and oversight of the Group’s risk management framew
the Risk Management Committee, which is responsible for developing and monitoring the Group’s risk management policies. The Com
and report to board on its activities.
The Group’s risk management policies are established to identify and analyse the risks faced by the Group, to set appropriate risk lim
monitor risks and adherence to limits. Risk management policies and systems are reviewed regularly to reflect changes in market con
activities. The Group, through its training and management standards and procedures, aims to maintain a disciplined and constructiv
which all employees understand their roles and obligations.
The audit committee oversees how management monitors compliance with the Group’s risk management policies and procedures, an
risk management framework in relation to the risks faced by the Group. The audit committee is assisted in its oversight role by intern
undertakes both regular and ad hoc reviews of risk management controls and procedures, the results of which are reported to the au
This note explains the sources of risk which the entity is exposed to and how the entity manages the risk.

Risk Exposure arising from Measurement

Credit risk Cash and cash equivalents, trade Ageing analysis
receivables, Credit ratings
Liquidity risk financial
Borrowingsassets measured
and other at amortised
liabilities Rolling cash flow
cost. forecasts
Market risk – foreign exchange Recognised financial assets and liabilities Cash flow forecasting
not denominated in Indian rupee (INR) Sensitivity analysis

Price Risk Investments in mutual funds Credit rating

a). Credit risk
Credit risk is the risk of financial loss to the Group if a customer or counterparty to a financial instrument fails to meet its contra
principally from the Company’s receivables from customers.
Trade and other receivables
The Group’s exposure to credit risk is influenced mainly by the individual characteristics of each customer. However, managemen
that may influence the credit risk of its customer base, including the default risk of the industry and country in which customers
financial asset is when the counterparty fails to make contractual payments within 90 days of when they fall due. This definition
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 intelligen
customer receivables are regularly monitored.
The Group has established an allowance for impairment that represents its expected credit losses in respect of trade and other re
uses a simplified approach for the purpose of computation of expected credit loss for trade receivables and 12-month expected c
receivables. An impairment analysis is performed at each reporting date on an individual basis for major parties. In addition, a la
receivables are
nstruments. This is included in Level 1.

her bank balances, other financial assets and trade payables are considered to
for security deposits and borrowings are calculated based on cash flows
s not have any significant impact on fair values as at the current year end.
mounts are equal to the fair values.

evious year ended March 31, 2020

uity shares, preference shares and debentures required for financial reporting

as below.
a pre-tax rate that reflects current market assessments of the time value of

arket information for similar types of companies to the extent available.

determined using valuation techniques. The group uses its judgement to select
nditions existing at the end of each reporting period. For details of the key
above.

versight of the Group’s risk management framework. The board has established
g the Group’s risk management policies. The Committee holds regular meetings

ks faced by the Group, to set appropriate risk limits and controls and to
viewed regularly to reflect changes in market conditions and the Group
es, aims to maintain a disciplined and constructive control environment in

up’s risk management policies and procedures, and reviews the adequacy of the
ommittee is assisted in its oversight role by internal audit. Internal audit
dures, the results of which are reported to the audit committee.
tity manages the risk.

Management of risk
Diversification of bank deposits, credit
limits and regular monitoring.
Availability of surplus cash, committed
credit lines and borrowing facilities.
Regular monitoring to keep the net
exposure at an acceptable level, with
option of taking Forward foreign exchange
contracts if deemed necessary.
Portfolio diversification and regular
monitoring
 to a financial instrument fails to meet its contractual obligations, and arises

teristics of each customer. However, management also considers the factors

k of the industry and country in which customers operate. A default on a
hin 90 days of when they fall due. This definition of default is determined by
ro-economic factors.
ical dealings with the Company, market intelligence & goodwill. Outstanding

cted credit losses in respect of trade and other receivables. The management
ss for trade receivables and 12-month expected credit loss for other
ndividual basis for major parties. In addition, a large number of minor
 combined into homogenous categories and assessed for impairment collectively. The calculation is based on historical data of act
evaluates the concentration of risk with respect to trade receivables as low.
Reconciliation of loss allowance provision: Amount

Loss allowance as on April 1, 2019

net changes in loss allowance
Loss allowance as on March 31, 2020
net changes in loss allowance
Loss allowance as on March 31, 2021
Cash and cash equivalents
Credit risk on cash and cash equivalents and other deposits with banks is limited as the group generally invest in deposits with ba
assigned by external credit rating agencies, accordingly the Company considers that the related credit risk is low. Impairment on
the 12-month expected credit loss basis.
b). Liquidity risk
Liquidity risk is the risk that the Group will encounter difficulty in meeting the obligations associated with its financial liabilities
cash or another financial asset. The Group’s approach to managing liquidity is to ensure, as far as possible, that it will have suffic
liabilities when they are due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage
The Group’s treasury maintains flexibility in funding by maintaining liquidity through investments in liquid funds and other comm
Management monitors rolling forecasts of the group’s liquidity position (comprising the undrawn borrowing facilities below) and c
the basis of expected cash flows.
(i) Financing arrangements
The Company had access to the following undrawn borrowing facilities at the end of the reporting period :

Particulars
Cash credit facilities (Bank Overdraft)
The bank overdraft facilities may be drawn at any time.
(ii) Maturities of financial liabilities
The amount disclosed in the below table represent the contractual undiscounted cash flows. Balances equal their carrying balanc
discounting is not significant.
March 31, 2021 Contractual cash flows [Amount (`Mn)]
Total 6 months or 6-12 months
less
Non-derivative financial liabilities
Trade payables 643.37 643.37 -
Lease Liability 648.47 102.86 106.14
Payable to unit holders 1.61 1.61 -
Borrowings (including interest accrued but not due on 2.44 1.26 0.46
loans)
March 31, 2020 Contractual cash flows [Amount (`Mn)]
Total 6 months or 6-12 months
less

Non-derivative financial liabilities

Trade payables 634.15 634.15 -

Lease Liability 766.58 100.38 100.00
Borrowings (including Interest accrued but not due on 6.23 2.14 1.67
loans) (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 Gr
its holdings of financial instruments. Market risk is attributable to all market risk sensitive financial instruments including foreign
payables and long term debt. The Company is exposed to market risk primarily related to foreign exchange rate risk, interest rate
the investments. Thus, the exposure to market risk is a function of investing and borrowing activities and revenue generating and
currency.
(i). Currency risk
The Group is exposed to currency risk on account of foreign currency transactions including recognized assets and liabilities deno
not the Company’s functional currency (`), primarily in respect of US$, United Arab Emirates Dirham (AED), Saudi Riyal (SAR) and
Company ensures that the net exposure is kept to an acceptable level and it remains a net foreign exchange earner.
ulation is based on historical data of actual losses. The Company

Amount (`Mn)

56.79
54.53
111.32
(8.70)
102.62

roup generally invest in deposits with banks with high credit ratings
related credit risk is low. Impairment on these items are measured on

s associated with its financial liabilities that are settled by delivering

as far as possible, that it will have sufficient liquidity to meet its
ng unacceptable losses or risking damage to the Group’s reputation.
estments in liquid funds and other committed credit lines.
ndrawn borrowing facilities below) and cash and cash equivalents on

reporting period :

Amount (`Mn)
March 31, 2021 March 31,
- 2020
100.00

ws. Balances equal their carrying balances as the impact of

flows [Amount (`Mn)]

1-5 years > 5 years

- -
394.91 44.56
- -
0.72 -
flows [Amount (`Mn)]
1-5 years > 5 years

- -
503.00 63.20
2.42 -

tes and interest rates – will affect the Group’s income or the value of
e financial instruments including foreign currency receivables and
foreign exchange rate risk, interest rate risk and the market value of
ng activities and revenue generating and operating activities in foreign

ng recognized assets and liabilities denominated in a currency that is

ates Dirham (AED), Saudi Riyal (SAR) and Bahraini Dinar (BHD). The
et foreign exchange earner.
 Exposure to currency risk
The currency profile of financial assets and financial liabilities are given below:
As at March 31, 2021
Financial assets Amount (`Mn) Amount (`Mn)
AED 0.06 1.17
USD 0.09 6.95
OMR 0.01 0.99
Trade receivables
QAR 0.02 0.44
GBP *0.00 0.04
EUR *0.00 0.09
SAR 0.19 56.37
USD 0.06 12.38
BHD 2.89 10.69
AED 3.35 66.72
HKD *0.00 0.01
Cash & Bank Balances AUD *0.00 0.06
CAD *0.00 0.01
QAR 0.01 10.84
SGD *0.00 0.15
EUR *0.00 0.10
GBP *0.00 0.17
USD 0.06 4.09
SAR *0.00 0.08
QAR *0.00 0.06
Other receivable
BHD *0.00 0.02
KWD *0.00 0.02
AED 0.19 3.76
Total-Financial assets 175.21
Financial liabilities

AED *0.00 0.03

BHD *0.00 0.04
Trade payables SAR *0.00 0.02
USD 0.01 0.88

Total financial liabilities 0.97

*Amount is below rounding off norms adopted by the group.
Sensitivity analysis
Any change w.r.t. strengthening (weakening) of the Indian Rupee against various currencies as at March 31, 2021 & March 31, 202
measurement of financial instruments denominated in respective currencies and affected equity and profit or loss by the amount
assumes that all other variables, in particular interest rates.
Profit or loss
March 31, 2021
Effect ` Strengthening Weakening
in (Increase/decrease by 0.5%, March 31, 2020- 0.5%)
AED (0.36) 0.36
BHD (Increase/decrease by 0.5%, March 31, 2020- 0.5%) (0.05) 0.05
OMR (Increase/decrease by 0.5%, March 31, 2020- 0.5%) -*(0.00) *0.00
QAR (Increase/decrease by 0.5%, March 31, 2020- 0.5%) (0.06) 0.06
SAR (Increase/decrease by 0.5%, March 31, 2020- 0.5%) (0.28) 0.28
EURO (Increase/decrease by 0.5%, March 31, 2020- 0.5%) -*(0.00) *0.00
USD (Increase/decrease by 0.5%, March 31, 2020- 0.5%) (0.11) 0.11
GBP (Increase/decrease by 0.5%, March 31, 2020- 0.5%) -*(0.00) *0.00
Total (0.87) 0.87
*Amount is below rounding off norm adopted by the group
 As at March 31, 2020
Amount (`Mn) Amount (`Mn)
AED 0.50 10.28
USD 0.05 3.79
- -
- -
- -
- -
SAR 2.50 49.48
USD 0.15 11.42
BHD 0.04 7.92
AED 2.48 50.36
HKD *0.00 0.01
AUD *0.00 0.05
CAD *0.00 0.01
QAR 0.47 9.64
SGD *0.00 0.14
EUR *0.00 0.09
GBP *0.00 0.16
USD 0.05 3.44
SAR *0.00 0.01
QAR *0.00 0.02
BHD *0.00 0.01
- -
AED 0.11 2.18
149.01

AED 0.01 0.19

BHD *0.00 0.08
SAR *0.00 0.09
USD *0.00 1.20

1.56

es as at March 31, 2021 & March 31, 2020 would have affected the
equity and profit or loss by the amounts shown below. This analysis

Profit or loss
March 31, 2020
Strengthening Weakening
(0.31) 0.31
(0.04) 0.04
-*(0.00) *0.00
(0.05) 0.05
(0.25) 0.25
-*(0.00) *0.00
(0.09) 0.09
-*(0.00) *0.00
(0.74) 0.74
 (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 o
fixed interest bearing investments because of fluctuations in the interest rates. Cash flow interest rate risk is the risk that the fut
interest bearing investments will fluctuate because of fluctuations in the interest rates.
Exposure to interest rate risk
The Group’s borrowings and deposits/loans are all at fixed rate and are carried at amortised cost. They are therefore not subject
defined in Ind AS 107, since neither the carrying amount nor the future cash flows will fluctuate because of a change in market in
The exposure of the Group’s financials assets/liabilities at the end of the reporting period are as follows:

Particulars March 31,

Fixed-rate instruments 2021
Financial assets 35,419.51
Financial liabilities 2.42
Total 35,421.93
(iii). Price risk Exposure
The Group’s exposure to securities price risk arises from investments held in mutual funds and classified in the balance sheet at f
loss. To manage its price risk arising from such investments, the Company diversifies its portfolio. Further these are all debt base
exposure is primarily on account of interest rate risk. Quotes (NAV) of these investments are available from the mutual fund hous
Profit for the year would increase/decrease as a result of gains/losses on these securities classified as at fair value through profit
B) Capital management
a) Risk management
The Group’s objectives when managing capital is to safeguard its ability to continue as a going concern, so that they can continue
shareholders and benefits for other stakeholder. The capital of the Company consist of equity capital and accumulated profits.
The Group avails borrowings only for buying vehicles.
b) Dividend Amount (`Mn)

Particulars March 31,

(i) Interim dividends : 2021
1st interim dividend : ` Nil per share (March 31, 2020 `2.5 per share) 2nd interim dividend : ` Nil per share -
(March 31, 2020 `3.5 per share) -

(ii) Dividends not recognised at the end of the year

In addition to the above dividends, since year end the directors have declared an Interim dividend of ` 8.00 1,030.27
per fully paid up equity share (March 31, 2020 - ` Nil).
46. Additional Information pursuant to Schedule III of Companies Act, 2013:
For the year ended March 31, 2021
Net Assets, i.e., total Share in profit or loss Share in Other
assets minus total comprehensive income
liabilities (OCI)
Name of the entity As % of Amount As % of Amount As % of Amoun
consolidated (`Mn) consolidated (`Mn) consolidated t (`Mn)
net assets** profit or OCI
loss*
Parent
Info Edge India Ltd. 58.45% 45,641.96 342.92% 2,709.38 59.39% 74.00
Subsidiaries and controlled trust
Jeevansathi Internet Services 0.00% 0.31 0.00% (0.01) 0.00% -
Private Limited
Naukri Internet Services Limited 0.34% 266.71 0.95% 7.47 0.00% -
Allcheckdeals India Private 0.24% 190.31 -0.06% (0.46) 0.00% -
Limited
Interactive Visual Solutions Private 0.00% 0.64 -0.02% (0.17) 0.00% -
Limited
Startup Investment (Holding) 6.03% 4,709.25 -1.57% (12.37) 11.97% 14.91
Limited
Smartweb Internet Services 0.38% 298.28 3.32% 26.23 1.89% 2.36
Limited
Startup Internet Services Limited 0.48% 371.49 1.45% 11.46 5.99% 7.46
value interest rate risk is the risk of changes in fair values of
rest rate risk is the risk that the future cash flows of floating

ost. They are therefore not subject to interest rate risk as

te because of a change in market interest rates.
as follows:
Amount (`Mn)
March 31, March 31, 2020
2021
35,419.51 12,552.63
2.42 6.19
35,421.93 12,558.82

classified in the balance sheet at fair value through profit or

lio. Further these are all debt base securities for which the
vailable from the mutual fund houses.
ified as at fair value through profit or loss.

concern, so that they can continue to provide returns for

capital and accumulated profits.

Amount (`Mn)

March 31, March 31, 2020

2021
- 305.79
- 428.81

1,030.27 -

2021
Share in Total
Comprehensive income
(TCI)
As % of Amount
consolidated (`Mn)
Total CI

304.30% 2,783.38

0.00% (0.01)

0.82% 7.47
-0.05% (0.46)
-0.02% (0.17)

0.28% 2.54

3.13% 28.59
2.07% 18.92
 For the year ended March 31, 2021
Net Assets, i.e., total Share in profit or loss Share in Other
assets minus total comprehensive income
liabilities (OCI)
Name of the entity As % of Amount As % of Amount As % of Amoun
consolidated (`Mn) consolidated (`Mn) consolidated t (`Mn)
net assets** profit or OCI
loss*
Newinc Internet Services Private 0.33% 257.78 -0.92% (7.28) 0.00% -
Limited
Diphda Internet Services Limited 4.42% 3,453.82 0.00% (0.02) 0.00% -
Info Edge Venture Fund 3.02% 2,361.80 21.33% 168.50 0.00% -
(Controlled
trust)
Highorbit Careers Private Limited 0.01% 5.69 2.72% 21.48 0.01% 0.04
Redstart Labs (India) Limited 0.19% 151.94 0.23% 1.84 0.00% -

Non- controlling interests in

subsidiaries and controlled trust
Info Edge Venture Fund -1.01% (787.27) -2.18% (17.23) 0.00% -
(Controlled
trust)
Joint ventures (Investment as
per equity method)
Happily Unmarried Marketing 0.17% 130.68 -9.66% (76.35) 0.10% 0.13
Private Limited
Vcare technologies Private Limited 0.00% - 0.00% - 0.00% -
Unnati online Private Limited 0.00% - 0.00% - 0.00% -
Green leaves Consumer Services 0.00% - 0.00% - 0.00% -
Private Limited
Rare Media Company Private 0.00% - 0.00% - 0.00% -
Limited
Agstack Technologies Private 0.25% 198.05 -7.08% (55.95) 0.08% 0.10
Limited
Kinobeo Software Private Limited 0.00% - 0.00% - 0.00% -
Mint Bird Technologies Private 0.00% - 0.00% - 0.00% -
Limited
Ideaclicks Infolabs Private Limited 0.00% - 0.00% - 0.00% -
Wishbook Infoservices Private 0.00% - 0.00% - 0.00% -
Limited
Nopaperforms Solutions Private 0.40% 310.71 -2.65% (20.95) -0.18% (0.22)
Limited
International Educational Gateway 0.21% 162.10 -1.33% (10.47) 0.16% 0.20
Private Limited
Makesense Technologies Limited 2.18% 1,703.82 43.68% 345.08 -1.73% (2.16)
Zomato Limited (formerly known 15.29% 11,942.53 -243.86% (1,926.74) 24.02% 29.93
as
Zomato Private Limited and
Zomato Media
Bizcrum Private
Infotech Limited)
Private Limited 0.33% 256.93 -8.26% (65.26) 0.14% 0.17
Medcords Healthcare Solutions 0.10% 78.70 -1.78% (14.10) 0.00% -
Private Limited
Printo Document Services Private 0.12% 90.16 -3.10% (24.49) -0.27% (0.34)
Limited
Shop Kirana E Trading Private 0.58% 456.47 -11.05% (87.28) 0.00% -
Limited
Greytip Software Private Limited 0.41% 318.54 -2.50% (19.72) 0.12% 0.15
Terralytics Analysis Private 0.06% 46.96 -0.33% (2.58) 0.00% -
Limited
Metis Eduventures Private Limited 0.32% 250.65 -3.15% (24.89) -0.12% (0.15)
Llama Logisol Private Limited 0.35% 271.01 -0.26% (2.02) 0.00% -
LQ Global Services Private Limited 0.04% 33.88 -0.55% (4.31) 0.01% 0.01
Sunrise Mentors Private Limited 0.45% 350.45 -2.61% (20.66) 0.00% -
4B Networks Private Limited 0.11% 86.46 0.05% (3.56) 0.00% -
Associate (Investment as per
equity method)
PB Fintech Private Limited 5.73% 4,472.57 -13.22% (104.48) -1.60% (1.99)
(formerly known as Etechaces
Marketing and
Consulting Private Limited)
TOTAL 100% 78,083.38 100% 790.09 100% 124.60
Adjustment arising out of (23,487.83) 13,297.95 (74.54)
consolidation
TOTAL 54,595.55 14,088.04 50.06
2021
Share in Total
Comprehensive income
(TCI)
As % of Amount
consolidated (`Mn)
Total CI

-0.80% (7.28)

0.00% (0.02)
18.42% 168.50

2.35% 21.52
0.82% 1.84

-1.88% (17.23)

-8.33% (76.22)

0.00% -
0.00% -
0.00% -

0.00% -

-6.11% (55.85)

0.00% -
0.00% -

0.00% -
0.00% -

-2.31% (21.17)

-1.12% (10.27)

37.49% 342.92
-207.37% (1,896.81)

-7.12% (65.09)
-1.54% (14.10)

-2.71% (24.83)

-9.54% (87.28)

-2.14% (19.57)
 -0.28% (2.58)
-2.74% (25.04)
-0.22% (2.02)
-0.47% (4.30)
-2.26% (20.66)
0.05% (3.56)

-11.64% (106.47)

100% 914.69
13,223.41

14,138.10
 *Net assets and Profit / (loss) is consolidated amount of the subsidiary and controlled trust, including its step down subsidiaries
** Percentage has been determined before considering adjustments arising out of consolidation.
For the year ended March 31, 2020
Name of the entity Net Assets, i.e., total Share in profit or loss Share in Other
assets minus total comprehensive income
liabilities (OCI)
As % of Amount As % of Amount As % of Amoun
consolidated (`Mn) consolidated (`Mn) consolidated t (`Mn)
net assets** profit or OCI
Parent loss*
Info Edge India Ltd. 55.85% 24,316.59 -31.71% 2,056.65 166.75% (48.54)
Subsidiaries and controlled trust
Jeevansathi Internet Services 0.00% 0.32 0.00% 0.02 0.00% -
Private Limited
Naukri Internet Services Limited 0.60% 259.25 -1.39% 89.86 0.00% -
Allcheckdeals India Private 0.07% 30.76 2.34% (151.84) 0.00% -
Limited
Interactive Visual Solutions Private 0.00% 0.80 0.00% (0.18) 0.00% -
Limited
Startup Investment (Holding) 10.81% 4,706.71 13.50% (875.80) 0.00% -
Limited
Smartweb Internet Services 0.62% 269.69 0.52% (33.86) 0.00% -
Limited
Startup Internet Services Limited 0.81% 352.58 -0.02% 1.23 0.00% -
Newinc Internet Services Private 0.60% 262.56 0.73% (47.21) 0.00% -
Limited
Diphda Internet Services Limited 7.93% 3,453.83 0.43% (27.72) 0.00% -
Applect Learning Systems Private 0.00% - 3.65% (236.68) 0.00% -
Limited
Info Edge Venture Fund (controlled 3.41% 1,483.66 0.25% (16.34) 0.00% -
trust)
Highorbit Careers Private Limited -0.04% (15.83) 0.53% (34.43) 3.68% (1.07)

Non- controlling interests in all

subsidiaries
Applect Learning Systems Private 0.00% - -1.25% 81.25 0.00% -
Limited

Joint ventures (Investment as

per equity method)
Happily Unmarried Marketing 0.27% 115.76 1.14% (73.81) 0.52% (0.15)
Private Limited
Vcare technologies Private Limited 0.00% - 0.00% - 0.00% -
Unnati online Private Limited 0.00% - 0.07% (4.27) 0.03% (0.01)
cluding its step down subsidiaries.
n.
020
Share in Total
Comprehensive income
(TCI)
As % of Amount
consolidated (`Mn)
Total CI

-30.83% 2,008.11

0.00% 0.02

-1.38% 89.86
2.33% (151.84)
0.00% (0.18)

13.44% (875.80)

0.52% (33.86)
-0.02% 1.23
0.72% (47.21)

0.43% (27.72)
3.63% (236.68)

0.25% (16.34)

0.54% (35.50)

-1.25% 81.25

1.14% (73.96)

0.00% 0.00
0.07% (4.28)
 For the year ended March 31, 2020
Name of the entity Net Assets, i.e., total Share in profit or loss Share in Other
assets minus total comprehensive income
liabilities (OCI)
As % of Amount As % of Amount As % of Amoun
consolidated (`Mn) consolidated (`Mn) consolidated t (`Mn)
net assets** profit or OCI
Green leaves Consumer Services 0.00% - loss* 0.00% - 0.00% -
Private Limited
Rare Media Company Private 0.00% - 0.00% - 0.00% -
Limited
Agstack Technologies Private 0.37% 160.25 0.74% (48.10) 0.07% (0.02)
Limited
Kinobeo Software Private Limited 0.00% - 0.00% - 0.00% -
Mint Bird Technologies Private 0.00% - 0.00% - 0.00% -
Limited
Ideaclicks Infolabs Private Limited 0.00% - 0.04% (2.33) 0.00% -
Wishbook Infoservices Private 0.00% - 0.06% (3.77) 0.00% -
Limited
Nopaperforms Solutions Private 0.76% 331.88 -0.02% 1.11 2.40% (0.70)
Limited
International Educational Gateway 0.40% 172.36 0.26% (16.84) 0.38% (0.11)
Private Limited
Makesense Technologies Limited 3.13% 1,360.92 4.52% (293.11) 1.79% (0.52)
Zomato Limited (formerly known 0.00% - 99.61% (6,459.86) -73.41% 21.37
as
Zomato Private Limited and
Zomato Media
Bizcrum Private
Infotech Limited)
Private Limited 0.18% 77.20 0.97% (62.95) 1.55% (0.45)
Medcords Healthcare Solutions 0.19% 84.12 0.14% (9.31) 0.00% -
Private Limited
Printo Document Services Private 0.27% 116.60 0.11% (6.92) -2.30% 0.67
Limited
Shop Kirana E Trading Private 1.25% 543.75 0.86% (55.73) 0.00% -
Limited
Greytip Software Private Limited 0.78% 338.12 0.18% (11.41) 1.61% (0.47)
Terralytics Analysis Private 0.11% 49.54 0.01% (0.46) 0.00% -
Limited
Metis Eduventures Private Limited 0.63% 275.69 0.07% (4.73) -1.48% 0.43
Llama Logisol Private Limited 0.12% 51.62 -0.03% 1.63 0.00% -
LQ Global Services Private Limited 0.03% 13.20 0.03% (1.80) 0.03% (0.01)
Sunrise Mentors Private Limited 0.85% 371.11 0.00% 0.14 0.00% -
Associate (Investment as per
equity method)
PB Fintech Private Limited 10.01% 4,357.59 3.66% (237.66) -1.61% 0.47
(formerly
known as Etechaces Marketing and
Consulting Private Limited)
TOTAL 100% 43,540.63 100% (6,485.23) 100% (29.11)
Adjustment arising out of (21,585.07) 4,027.75 0.00
consolidation
TOTAL 21,955.56 (2,457.48) (29.11)
*Net assets and Profit / (loss) is consolidated amount of the subsidiary and controlled trust, including its step down subsidiaries.
** Percentage has been determined before considering adjustments arising out of consolidation.
 47. Customer contract balances
During previous year, the Group has adopted Ind AS 115 on Revenue from Contracts with Customers, using the modified retrospective
applied retrospectively only to contracts that were not completed as at the date of initial application and comparative information w
statement of profit and loss. The adoption of the standard did not have any material impact on the recognition and measurement of
the financial statements/results. Revenue from sale of services is recognised over the period of time.
Particulars March 31,
2021
(`Mn)
Trade Receivable 63.74
Contract Liabilities 5,348.73
020
Share in Total
Comprehensive income
(TCI)
As % of Amount
consolidated (`Mn)
Total CI
0.00% 0.00

0.00% 0.00

0.74% (48.12)

0.00% 0.00
0.00% 0.00

0.04% (2.33)
0.06% (3.77)

-0.01% 0.41

0.26% (16.95)

4.51% (293.63)
98.84% (6,438.49)

0.97% (63.40)
0.14% (9.31)

0.10% (6.25)

0.86% (55.73)

0.18% (11.88)
0.01% (0.46)
0.07% (4.30)
-0.03% 1.63
0.03% (1.81)
0.00% 0.14

3.64% (237.19)

100% (6,514.34)
4,027.75

(2,486.59)
uding its step down subsidiaries.
, using the modified retrospective approach. The standard was
on and comparative information was not restated in the
recognition and measurement of revenue and related items in
e.
March 31, March 31, 2020
2021 (`Mn)
(`Mn)
63.74 91.15
5,348.73 4,765.75
 Trade receivables are non-interest bearing and are generally on terms of 30 to 90 days and are conditioned to be recovered purel
contract assets have been considered to be Nil.
Contract Liabilities includes Deferred Sales revenue and advance received from Customer
Other disclosure as specified under IndAS 115 are not required to be made as a matter of practical expedient , since the performa
contract that has an original expected duration of one year or less.
Contract liabilities are primarily the deferred sales revenue against which amount has been received from customer but services
reporting date either in full or in parts. Contract liabilities are recognized evenly over the subscription period, being performance
Set out below is the amount of revenue recognised from:

Particulars

Amount included in contract liabilities at the beginning of the year

The company has as a matter of practical expedient recognised the incremental costs of obtaining a contract as an expense when
amortisation period of the asset that the entity otherwise would have recognised is generally one year or less.
48 (1). In case of subsidiary company, controlled trust, joint ventures and associate company, the following COVID-19 related matte
their auditors report :
(a) The subsidiary company, Naukri Internet Services Limited– “We draw attention to Note 21 to the IndAS financial statements whic
has made an assessment of the impact of COVID-19 on the Company’s investment in Zomato Limited (formerly known as Zomato Priva
Private Limited) as at year ended March 31, 2021 and has concluded that there is no impact which is required to be recognised in the
Accordingly, no adjustments have been made to the financial statements. Our opinion is not modified in respect of this matter.”
(b) The controlled trust, Info Edge Venture Fund- “We draw attention to Note 22 to the Special Purpose Financial Statements which
an assessment of the impact of COVID-19 on the Fund’s operations, financial performance and positions as at and for the year ended
concluded that there is no impact which is required to be recognised in the Special Purpose Financial Statements. Accordingly, no ad
the Special Purpose Financial Statements. Our opinion is not modified in respect of this matter.”
(c) The joint venture, Zomato Limited (formerly known as Zomato Private Limited and Zomato Media Private Limited)- “We draw at
Consolidated Financial Statements, which describes the possible effects of uncertainties relating to COVID-19 on operations and resul
venture as assessed by the management. Our opinion is not modified in respect of these matters”
(d) The joint venture, Happily Unmarried Marketing Private Limited - “We draw attention to Note 44 to the Statements which descri
impact of COVID 19 pandemic on the Company’s operations and results as assessed by the management. Our opinion is not modified i
(e) The joint venture, Nopaperforms Solutions Private Limited - “We draw attention to Note 34 to the Ind AS Financial Statements w
effects of uncertanties relating to COVID 19 pandemic on the Company’s operations and results as assessed by the management. Our
respect of this matters.”
(f) The associate company, PB Fintech Private Limited (Erstwhile, Etechaces Marketing and Consulting Private Limited) - “We draw
consolidated financial statements, which describes the management’s assessment of the impact of outbreak of Coronavirus (Covid-19
the company and its subsidiaries. In view of the uncertain economic environment, a definitive assessment of the financial impact on
highly dependent upon circumstances as they evolve. Our opinion is not modified in respect of this matter.”
The impact of above observations on the consolidated financial statement, if any, has not been considered material on the basis of e
fair valuation of above mentioned entities.

48 (2). In case of associate company, the following matter of emphasis was given in their auditors report:
The associate company, PB Fintech Private Limited (Erstwhile, Etechaces Marketing and Consulting Private Limited) - “We draw your
emphasis of matter paragraph included in the audit report on the financial statements of Policybazaar Insurance Brokers Private Limi
Insurance Web Aggregator Private Limited) (a wholly owned subsidiary of the holding company) reproduced as under:
“We draw your attention to Note 24(a) to the financial statements regarding management assessment with respect to inspections of t
records of the Company carried out by the Insurance Regulatory and Development Authority of India (“IRDAI”) to examine compliance
regulations for various financial years and submission of management responses in respect of the inspection reports issues by IRDAI. T
financial statements will be known on the conclusion of the proceedings by the IRDAI. Our opinion is not modified in respect of this m
Note 24(a) as described above corresponds to Note 24(i)(b) to the consolidated financial statements.
The impact of above observations on the consolidated financial statement, if any, has not been considered material on the basis of fa
by Associate company along-with the legal opinion on the matter.

49. The Group has considered the possible effects that may result from COVID 19 on its business and the carrying amount of investm
associate. The outbreak of Coronavirus (COVID-19) pandemic globally is causing a slowdown of economic activity. In many countries,
cease or limit their operations for long or indefinite period. Measures taken to contain the spread of the virus, including travel bans,
d are conditioned to be recovered purely on passage of time. Hence

practical expedient , since the performance obligation is part of

n received from customer but services are yet to be rendered on the

subscription period, being performance obligation of the Company.

March 31, March 31, 2020

2021 (`Mn)
(`Mn)
4,751.31 4,734.96
btaining a contract as an expense when incurred, since the
ally one year or less.
y, the following COVID-19 related matter of emphasis was given in

to the IndAS financial statements which states that the management

imited (formerly known as Zomato Private Limited and Zomato Media
which is required to be recognised in the Ind AS financial statements.
modified in respect of this matter.”
ial Purpose Financial Statements which states that the Fund has made
d positions as at and for the year ended March 31, 2021 and has
inancial Statements. Accordingly, no adjustments have been made to
er.”
to Media Private Limited)- “We draw attention to Note 49 to the
ing to COVID-19 on operations and results of the Group and its joint
ers”
Note 44 to the Statements which describes the uncertanties and the
nagement. Our opinion is not modified in respect of this matter.”
34 to the Ind AS Financial Statements which describes the possible
ts as assessed by the management. Our opinion is not modified in

Consulting Private Limited) - “We draw attention to Note 34 to the

act of outbreak of Coronavirus (Covid-19) on the business operations of
e assessment of the financial impact on the subsequent periods is
f this matter.”
en considered material on the basis of evaluation and analysis of the

ditors report:
ulting Private Limited) - “We draw your attention to the following
cybazaar Insurance Brokers Private Limited (Erstwhile, Policybazaar
y) reproduced as under:
essment with respect to inspections of the books of account and
f India (“IRDAI”) to examine compliance with relevant laws and
the inspection reports issues by IRDAI. The exact impact on the
nion is not modified in respect of this matter.”
ments.
en considered material on the basis of facts and information provided

ess and the carrying amount of investment in Joint ventures &

f economic activity. In many countries, businesses are being forced to
read of the virus, including travel bans, quarantines,
 social distancing, and closures of non-essential services have triggered disruptions to businesses worldwide, resulting in an econom
uncertainties pertaining to future operations. In developing the assumptions relating to the possible future uncertainties in the gl
pandemic, the Group, as on date of approval of these consolidated financial statements has used various information, as available
sensitivity analysis on the assumptions used and based on current estimates, expects the carrying amount of these investment in
not require any further diminution from the value at which these are stated. The Group will continue to closely monitor any mate
economic conditions and its impact on its business. The actual impact of COVID 19 on investments may differ from that estimated
these consolidated financial statements.

For S.R. Batliboi & Associates LLP For and on behalf of the Board of Directors Chartere
ICAI Firm Registration Number: 101049W/E300004

per Yogesh Midha Sanjeev Bikhchandani

Partner Director
Membership Number 094941
M.M. Jain
Company Secretary

Place : New Delhi Date : June 21,2021 Place : Noida

Date : June 21,2021

INFO EDGE (INDIA) LIM

CIN: L74899DL1995PLC
REGISTERED OFFICE
GF-12A, 94, Meghdoot
Nehru Place, New Delh
CORPORATE OFFICE
B-8, Sector-132, Noida
Uttar Pradesh, India
INFO EDGE (INDIA) LIM
CIN: L74899DL1995PLC
REGISTERED OFFICE
GF-12A, 94, Meghdoot
Nehru Place, New Delh
CORPORATE OFFICE
B-8, Sector-132, Noida
Uttar Pradesh, India

ITED 068021

Building,
i-110 019 India
– 201 304
 es worldwide, resulting in an economic slowdown and
ossible future uncertainties in the global conditions because of the
sed various information, as available. The Group has performed
ying amount of these investment in Joint ventures & associate do
continue to closely monitor any material change arising of future
ments may differ from that estimated as at the date of approval of

alf of the Board of Directors Chartered Accountants

Hitesh Oberoi
Managing Director

Chintan Thakkar Director & CFO