Page 246 - DJML Annual Report 24-25

CORPORATE OVERVIEW STATUTORY REPORTS FINANCIAL STATEMENTS

March 31, 2025

its share of any changes, when applicable, in the retained investment and proceeds from disposal is
Statement of Changes in Equity. Unrealised gains recognised in Statement of Profit and Loss.
and losses resulting from transactions between
the Group and the associate are eliminated to the
extent of the interest in the associate. The Group’s consolidated financial statements
are presented in INR, which is also the parent
If an entity’s share of losses of an associate equals company’s functional currency. For each entity
or exceeds its interest in the associate (which the Group determines the functional currency and
includes any long-term interest that, in substance, ite included the financia stateme of ea
form part of the Group’s net investment in the entity are measured using that functional currency.
associate), the entity discontinues recognising The Group uses the direct method of consolidation
its share of further losses. Additional losses and on disposal of a foreign operation the gain or
are recognised only to the extent that the Group lo tha reclassified to profi or lo refle the
has incurred legal or constructive obligations or amount that arises from using this method.
made payments on behalf of the associate. If the
associate subseque repor profits, the e
resume recognising share of those profi o Transactions in foreign currencies are initially
after share of the profits equa the share of recorded by the Group’s entities at their respective
losses not recognised. functional currency spot rates at the date the
The aggregate of the Group’s share of profit or transactio fir qualifie for recognition. However,
loss of an associate is shown on the face of the for practical reasons, the group uses an average
Stateme of Profi and Loss. rate if the average approximates the actual rate at
the date of the transaction.
The financia stateme of the associate are
prepared with a three months’ time lag for Monetary assets and liabilities denominated in
consolidatio into the Group financia statements. foreign currencies are translated at the functional
When necessary, adjustments are made to bring currency spot rates of exchange at the reporting
the accounting policies in line with those of the date.
Group. The Group ha no identified a materia Exchange differences arising on settlement or
adjustments during the year; in regard to the translation of monetary items are recognised in
alignment of accounting policies. Stateme of Profi and Lo the exceptio of

After application of the equity method, the Group the following:
determines whether it is necessary to recognise an Exchange differences arising on monetary items
impairment loss on its investment in its associate. At that forms part of a reporting entity’s net investment
each reporting date, the Group determines whether in a foreign operation are recognised in Statement
there is objective evidence that the investment in of Profit and Loss in the separate financial
the associate is impaired. If there is such evidence, statements of the reporting entity or the individual
the Group calculates the amount of impairment as financial statements of the foreign operation, as
the difference between the recoverable amount appropriate. In the financial statements that include
of the associate and its carrying value, and then the foreign operation and the reporting entity
recognise the lo the Stateme of Profi and (e.g., consolidated financia stateme whe the
Loss. foreign operation is a subsidiary), such exchange
Upon loss of significant influence over the differences are recognised initially in Statement
associate, the Group measures and recognises any of Other Comprehensive Income (‘OCI’). These
retained investment at its fair value. Any difference exchange difference are reclassified fro e
between the carrying amount of the associate upon to profi or lo o disposa of the ne investment.
loss of significant influence and the fair value of the

Annual Report 2024-25 243