FLIPKART INDIA PRIVATE LIMITED

Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

[700300] Disclosure of general information about company

Unless otherwise specified, all monetary values are in Millions of INR
01/04/2020 01/04/2019
to to
31/03/2021 31/03/2020
FLIPKART INDIA PRIVATE
Name of company LIMITED
Corporate identity number U51909KA2011PTC060489
Permanent account number of entity AABCF8078M
Buildings Alyssa,
Begonia & Clover, Embassy
Tech Village, Outer Ring
Address of registered office of company R o a d ,
Devarabeesanahalli
Village, Bengaluru -
560103
Commercial and
Type of industry Industrial
Period covered by financial statements 12 Months 12 Months
Date of start of reporting period 01/04/2020 01/04/2019
Date of end of reporting period 31/03/2021 31/03/2020
Nature of report standalone consolidated Consolidated
Content of report Financial Statements
Description of presentation currency INR
Level of rounding used in financial statements Millions
Type of cash flow statement Indirect Method

[700400] Disclosures - Auditors report

Details regarding auditors [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Auditors [Axis] Column 1
01/04/2020
to
31/03/2021
Details regarding auditors [Abstract]
Details regarding auditors [LineItems]
Category of auditor Auditors firm
S.R. Batliboi &
Name of audit firm Associates LLP
Name of auditor signing report Sumit Mehra
Firms registration number of audit firm 101049W/E300004
Membership number of auditor 096547
12th Floor, “UB
City” Canberra,
Block No. 24, Vittal
Address of auditors Mallya Road,
Bengaluru –
560001, India Tel:
+91 80 6648 9000
Permanent account number of auditor or auditor's firm ACHFS9118A
SRN of form ADT-1 R01798719
Date of signing audit report by auditors 28/09/2021
Date of signing of balance sheet by auditors 28/09/2021

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

01/04/2020
to
31/03/2021
Textual information (1)
Disclosure in auditor’s report explanatory [TextBlock] [See below]
Whether companies auditors report order is applicable on company No
Whether auditors' report has been qualified or has any reservations or
No
contains adverse remarks
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Textual information (1)

Disclosure in auditor’s report explanatory [Text Block]

INDEPENDENT AUDITOR’S REPORT

To the Members of Flipkart India Private Limited

Report on the Audit of these Consolidated Ind-AS Financial Statements

Opinion

We have audited the accompanying Consolidated Ind-AS Financial Statements of Flipkart India Private Limited (herein
referred to as the “Company”), and its associate comprising of the Consolidated Balance Sheet as at March 31 2021, the
Consolidated Statement of Profit and Loss, including the Consolidated Statement of Other Comprehensive Income,
the Consolidated Cash Flow Statement and the Consolidated Statement of Changes in Equity for the year then ended, and
notes to these Consolidated Ind-AS Financial Statements, including a summary of significant accounting policies and other
explanatory information (hereinafter referred to as these “Consolidated Ind-AS Financial Statements”).

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid Consolidated
Ind-AS Financial Statements give the information required by the Companies Act, 2013, as amended (the “Act”) in the
manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India,
of the consolidated state of affairs of the Company and its associate as at March 31, 2021, their consolidated loss
including consolidated other comprehensive income, their consolidated cash flows and the consolidated changes in equity
for the year ended on that date.

Basis for Opinion

We conducted our audit of these Consolidated Ind-AS Financial Statements in accordance with the Standards on Auditing
(SAs), as specified under Section 143(10) of the Act. Our responsibilities under those Standards are further described in
the ‘Auditor’s Responsibilities for the Audit of these Consolidated Ind-AS Financial Statements’ Section of our Report.
We are independent of the Company and its associate in accordance with the ‘Code of Ethics’ issued by the Institute of
Chartered Accountants of India (‘ICAI’) together with the ethical requirements that are relevant to our audit of these
Consolidated Ind-AS Financial Statements under the provisions of the Act and the Rules thereunder, and we have fulfilled
our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit
evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on these Consolidated
Ind-AS Financial Statements.

Information Other than these Consolidated Ind-AS Financial Statements and Auditor’s Report Thereon

The Company’s Board of Directors is responsible for the other information. The other information comprises the information
included in the Director’s Report, but does not include these Consolidated Ind-AS Financial Statements and our
Auditor’s Report thereon.

Our opinion on these Consolidated Ind-AS Financial Statements does not cover the other information and we do not express
any form of assurance conclusion thereon.

In connection with our audit of these Consolidated Ind-AS Financial Statements, our responsibility is to read the other
information and, in doing so, consider whether such other information is materially inconsistent with these Consolidated
Ind-AS Financial Statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If,
based on the work we have performed, we conclude that there is a material misstatement of this other information, we are
required to report that fact. We have nothing to report in this regard.

Responsibility of Management for these Consolidated Ind-AS Financial Statements

The Company’s Board of Directors is responsible for the preparation and presentation of these Consolidated Ind- AS
Financial Statements in terms of the requirements of the Act that give a true and fair view of the consolidated financial
position, consolidated financial performance including consolidated other comprehensive income, consolidated cash flows
and consolidated changes in equity of the Company and its associate in accordance with the accounting principles generally
accepted in India, including the Indian Accounting Standards (Ind-AS) specified under Section 133 of the Act read with the
Companies (Indian Accounting Standards) Rules, 2015, as amended.

The respective Board of Directors of the Company and its associate are responsible for maintenance of adequate accounting
records in accordance with the provisions of the Act for safeguarding of the assets of the Company and its associate and for
preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making
judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate
internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting
records, relevant to the preparation and presentation of these Consolidated Ind-AS Financial Statements that give a true and
fair view and are free from material misstatement, whether due to fraud or error, which have been used for the purpose of
preparation of these Consolidated Ind-AS Financial Statements by the Board of Directors of the Company, as aforesaid.

2
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

In preparing these Consolidated Ind-AS Financial Statements, the respective Board of Directors of the Company and its
associate are responsible for assessing the ability of the Group to continue as a going concern, disclosing, as applicable,
matters related to going concern and using the going concern basis of accounting unless management either intends
to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

Those respective Board of Directors of the Company and its associate are also responsible for overseeing the financial
reporting process of the Company and its associate.

Auditor’s Responsibilities for the Audit of these Consolidated Ind-AS Financial Statements

Our objectives are to obtain reasonable assurance about whether these Consolidated Ind-AS Financial Statements as a
whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor’s Report that includes our
opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance
with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are
considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic
decisions of users taken on the basis of these Consolidated Ind-AS Financial Statements.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism
throughout the audit. We also:

• Identify and assess the risks of material misstatement of these Consolidated Ind-AS Financial Statements, whether
due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is
sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from
fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions,
misrepresentations, or the override of internal controls.

• Obtain an understanding of internal controls relevant to the audit in order to design audit procedures that are appropriate
in the circumstances. Under Section 143(3)(i) of the Act, we are also responsible for expressing

our opinion on whether the Company has adequate internal financial controls with reference to these Consolidated Ind-AS
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 made by management.

• Conclude on the appropriateness of management’s use of the going concern basis of accounting and, based

on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may

cast significant doubt on the ability of the Company and its associate to continue as a going concern. If we conclude that a
material uncertainty exists, we are required to draw attention in our Auditor’s Report to the related disclosures in these
Consolidated Ind-AS Financial Statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are
based on the audit evidence obtained up to the date of our Auditor’s Report. However, future events or conditions may cause
the Company and its associate to cease to continue as a going concern.

• Evaluate the overall presentation, structure and content of these Consolidated Ind-AS Financial Statements,

including the disclosures, and whether these Consolidated 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 Company and its associate of which we are the independent auditors, to express an opinion on these
Consolidated Ind-AS Financial Statements. We are responsible for the direction, supervision and performance of the
audit of the financial statements of such entities included in these Consolidated Ind-AS Financial Statements of which we are
the independent auditors.

We communicate with Those Charged with Governance of the Company regarding, among other matters, the planned scope
and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify
during our audit.

We also provide Those Charged with Governance of the Company with a statement that we have complied with relevant
ethical requirements regarding independence, and to communicate with them all relationships and other matters that may
reasonably be thought to bear on our independence, and where applicable, related safeguards.

Other Matter

The accompanying Consolidated Ind-AS Financial Statements include the associate’s share of net loss of Rs. 8 million for
the year ended March 31, 2021, as considered in these Consolidated Ind-AS Financial Statements, whose Ind AS Financial
Statements, other financial information have been audited by other auditors and whose reports have been furnished to us by
the Management.. Our opinion on these Consolidated Ind-AS Financial Statementsin so far as it relates to the amounts and
disclosures included in respect of this associate, and our report in terms of sub-sections (3) of Section 143 of the Act in so far

3
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

as it relates to the aforesaid associate, is based solely on the report of such other auditors. In our opinion and according to
the information and explanations given to us by the management, these Ind AS Financial Statements and other financial
information of this associate are not material to the Company.

Our opinion above on these Consolidated Ind-AS Financial Statements, and our report on Other Legal and Regulatory
Requirements below, is not modified in respect of the above matter with respect to our reliance on the work done and the
reports of the other auditors and the Ind AS Financial Statements and other financial information certified by the
management.

Report on Other Legal and Regulatory Requirements

As required by Section 143(3) of the Act, based on our audit of the Company and Ind AS Financial Statements and other
financial information of an associate which is audited by other auditor, as noted in the ‘Other Matter’ paragraph we report, to
the extent applicable, that:

(a) We have sought and obtained all the information and explanations which to the best of our knowledge and belief were
necessary for the purposes of our audit 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 Consolidated Ind-AS
Financial Statements have been kept so far as it appears from our examination of those books;

(c) The Consolidated Balance Sheet, the Consolidated Statement of Profit and Loss including the Consolidated
Other Comprehensive Income, the Consolidated Cash Flow Statement and the Consolidated Statement of
Changes in Equity dealt with by this Report are in agreement with the books of account maintained for the purpose of
preparation of these Consolidated Ind-AS Financial Statements;

(d) In our opinion, the aforesaid Consolidated Ind-AS Financial Statements comply with the Accounting Standards specified
under Section 133 of the Act, read with Companies (Indian Accounting Standards) Rules, 2015, as amended;

(e) On the basis of the written representations received from the Directors of the Company as on March 31, 2021 taken on
record by the Board of Directors of the Company, none of the Directors are 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 and the operating effectiveness of the internal financial controls over financial reporting
with reference to these Consolidated Ind-AS Financial Statements of the Company, refer to our separate report in “Annexure
1” to this report. This reporting has not been done in respect of aforesaid one associate whose Ind AS Financial Statements
and other financial information have been consolidated based on the Ind AS Financial Statements and other financial
information which is audited by other auditor, upon which we are unable to comment;

(g) The provisions of Section 197 read with Schedule V of the Act are not applicable to the Company incorporated in India
for the year ended March 31, 2021;

(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 Auditors) Rules, 2014, as amended in our opinion and to the best of our information and according to the
explanations given to us;

i. These Consolidated Ind-AS Financial Statements disclose the impact of pending litigations. Refer Note 22 of these
Consolidated Ind-AS Financial Statements;

ii. The Company did not have any material foreseeable losses in long-term contracts including derivative contracts during
the year ended March 31, 2021; and

iii. There were no amounts which were required to be transferred to the Investor Education and Protection Fund by the
Company during the year ended March 31, 2021.

For S.R. Batliboi & Associates LLP

Chartered Accountants

ICAI Firm Registration Number: 101049W/E300004

Sd/-

per Sumit Mehra

Partner

Membership Number: 096547

UDIN: 21096547AAAADM8254

Place of Signature: Bengaluru

Date: September 28, 2021

4
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

ANNEXURE 1

TO THE INDEPENDENT AUDITOR’S REPORT OF EVEN DATE ON THESE CONSOLIDATED IND- AS FINANCIAL
STATEMENTS OF FLIPKART INDIA PRIVATE LIMITED

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 over financial reporting of Flipkart India Private Limited (hereinafter
referred to as the “Company”) as of March 31, 2021 in conjunction with our audit of these Consolidated 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 over financial reporting criteria established by the Company considering the essential components of internal
control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by the Institute of
Chartered Accountants of India (‘ICAI’). These responsibilities include the design, implementation and maintenance of
adequate internal financial controls that were operating effectively for ensuring the orderly and efficient conduct of its
business, including adherence to the Company’s policies, the safeguarding of its assets, the prevention and detection of
frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial
information, as required under the Act.

Auditor’s Responsibility

Our responsibility is to express an opinion on the Company's internal financial controls over financial reporting with reference
to these Consolidated Ind-AS Financial Statements based on our audit. We conducted our audit in accordance with the
Guidance Note on Audit of Internal Financial Controls Over Financial Reporting (the “Guidance Note”) and the Standards on
Auditing as specified under Section 143(10) of the Act, to the extent applicable to an audit of internal financial controls, both
issued by the ICAI. Those Standards and the Guidance Note require that we comply with ethical requirements and plan and
perform the audit to obtain reasonable assurance about whether adequate internal financial controls over financial reporting
with reference to these Consolidated Ind-AS Financial Statements were established and maintained and if such controls
operated effectively in all material respects.

Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal financial controls over
financial reporting with reference to these Consolidated Ind-AS Financial Statements and their operating effectiveness. Our
audit of internal financial controls over financial reporting included obtaining an understanding of internal financial controls
over financial reporting with reference to these Consolidated Ind-AS Financial Statements, assessing the risk that a material
weakness exists, and testing and evaluating the design and operating effectiveness of internal controls based on the
assessed risk. The procedures selected depend on the auditor’s judgement, including the assessment of the risks of material
misstatement of these Consolidated Ind-AS Financial Statements, whether due to fraud or error.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on
the internal financial controls over financial reporting with reference to these Consolidated Ind-AS Financial Statements.

Meaning of Internal Financial Controls Over Financial Reporting With Reference to these Consolidated Ind-AS Financial
Statements

A Company’s internal financial control over financial reporting with reference to these Consolidated Ind-AS Financial
Statements is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the
preparation of Consolidated Ind-AS Financial Statements for external purposes in accordance with generally accepted
accounting principles. A Company’s internal financial control over financial reporting with reference to these Consolidated
Ind-AS Financial Statements includes those policies and procedures that (1) pertain to the maintenance of records that, in
reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the Company; (2) provide
reasonable assurance that transactions are recorded as necessary to permit preparation of these Consolidated Ind-AS
Financial Statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the
Company are being made only in accordance with authorisations of management and Directors of the Company; and (3)
provide reasonable assurance regarding prevention or timely detection of unauthorised acquisition, use, or disposition
of the Company's assets that could have a material effect on these Consolidated Ind-AS Financial Statements.

Inherent Limitations of Internal Financial Controls Over Financial Reporting with reference to these Consolidated Ind-AS
Financial Statements

Because of the inherent limitations of internal financial controls over financial reporting with reference to these Consolidated
Ind-AS Financial Statements, including the possibility of collusion or improper management override of controls, material
misstatements due to error or fraud may occur and not be detected. Also, projections of any evaluation of the internal
financial controls over financial reporting with reference to these Consolidated Ind-AS Financial Statements to future periods
are subject to the risk that the internal financial control over financial reporting with reference to these Consolidated Ind-AS
Financial Statements may become inadequate because of changes in conditions, or that the degree of compliance with the
policies or procedures may deteriorate.

Opinion

In our opinion, the Company has maintained, in all material respects, adequate internal financial controls over financial

5
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

reporting with reference to these Consolidated Ind-AS Financial Statements and such internal financial controls over financial
reporting with reference to these Consolidated Ind-AS Financial Statements were operating effectively as at March 31, 2021,
based on the internal control over financial reporting criteria established by the Company considering the essential
components of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting
issued by the ICAI.

For S.R. Batliboi & Associates LLP

Chartered Accountants

ICAI Firm Registration Number: 101049W/E300004

Sd/-

per Sumit Mehra

Partner

Membership Number: 096547

UDIN: 21096547AAAADM8254

Place of Signature: Bengaluru

Date: September 28, 2021

6
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

[110000] Balance sheet

Unless otherwise specified, all monetary values are in Millions of INR
31/03/2021 31/03/2020 31/03/2019
Balance sheet [Abstract]
Assets [Abstract]
Non-current assets [Abstract]
Property, plant and equipment 3 2 11
Goodwill 18 18 18
Other intangible assets 2 4 0
Non-current financial assets [Abstract]
Non-current investments (A) 4,154 (B) 357
Loans, non-current 0 0
Total non-current financial assets 4,154 357
Other non-current assets 274 117
Total non-current assets 4,451 498
Current assets [Abstract]
Inventories 55,633 29,636
Current financial assets [Abstract]
Current investments 0 0
Trade receivables, current 25,823 17,358
Cash and cash equivalents 767 12,046
Loans, current 3,593 30,682
Other current financial assets 4,972 4,502
Total current financial assets 35,155 64,588
Other current assets 27,433 18,011
Total current assets 118,221 112,235
Total assets 122,672 112,733
Equity and liabilities [Abstract]
Equity [Abstract]
Equity attributable to owners of parent [Abstract]
Equity share capital 9.789111 9.789111 8.508947
Other equity 50,068 74,422
Total equity attributable to owners of parent 50,077.789111 74,431.789111
Non controlling interest 0 0
Total equity 50,077.789111 74,431.789111
Liabilities [Abstract]
Non-current liabilities [Abstract]
Non-current financial liabilities [Abstract]
Borrowings, non-current 0 0
Total non-current financial liabilities 0 0
Provisions, non-current 125 112
Total non-current liabilities 125 112
Current liabilities [Abstract]
Current financial liabilities [Abstract]
Borrowings, current 7,097 1,649

Trade payables, current (C) 62,853 (D) 34,454

Other current financial liabilities 347 497
Total current financial liabilities 70,297 36,600
Other current liabilities 2,026 1,464
Provisions, current 146 125
Total current liabilities 72,469 38,189
Total liabilities 72,594 38,301
Total equity and liabilities 122,671.789111 112,732.789111

Footnotes
(A) Investments in associates 2,592, Other investments 1,562
(B) Investments in associates -, Other investments 357
(C) Total outstanding dues of micro enterprises and small enterprises 68, Total outstanding dues of creditors other than micro
enterprises and small enterprises 62,785
(D) Total outstanding dues of micro enterprises and small enterprises 24, Total outstanding dues of creditors other than micro
enterprises and small enterprises 34,430

7
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

[210000] Statement of profit and loss

Earnings per share [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Classes of equity share capital [Axis] Equity shares [Member] Equity shares 1 [Member]
01/04/2020 01/04/2019 01/04/2020 01/04/2019
to to to to
31/03/2021 31/03/2020 31/03/2021 31/03/2020
Statement of profit and loss [Abstract]
Earnings per share [Abstract]
Earnings per share [Line items]
Basic earnings per share [Abstract]
Basic earnings (loss) per share from
[INR/shares] -2,498 [INR/shares] -3,477 [INR/shares] -2,498 [INR/shares] -3,477
continuing operations
Total basic earnings (loss) per share [INR/shares] -2,498 [INR/shares] -3,477 [INR/shares] -2,498 [INR/shares] -3,477
Diluted earnings per share [Abstract]
Diluted earnings (loss) per share from
[INR/shares] -2,498 [INR/shares] -3,477 [INR/shares] -2,498 [INR/shares] -3,477
continuing operations
Total diluted earnings (loss) per share [INR/shares] -2,498 [INR/shares] -3,477 [INR/shares] -2,498 [INR/shares] -3,477

8
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

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

01/04/2020 01/04/2019
to to
31/03/2021 31/03/2020
Statement of profit and loss [Abstract]
Income [Abstract]
Revenue from operations 429,417 341,705
Other income 4,148 4,156
Total income 433,565 345,861
Expenses [Abstract]
Cost of materials consumed 0 0
Purchases of stock-in-trade 476,299 376,367
Changes in inventories of finished goods, work-in-progress and
-25,998 -5,138
stock-in-trade
Employee benefit expense 3,850 3,090
Finance costs 843 659
Depreciation, depletion and amortisation expense 7 10
Other expenses 3,012 2,376
Total expenses 458,013 377,364
Profit before exceptional items and tax -24,448 -31,503
Total profit before tax -24,448 -31,503
Tax expense [Abstract]
Total tax expense 0 0
Total profit (loss) for period from continuing operations -24,448 -31,503
Share of profit (loss) of associates and joint ventures accounted for
-8 0
using equity method
Total profit (loss) for period -24,456 -31,503
Profit or loss, attributable to owners of parent -24,448 -31,503
Comprehensive income OCI components presented net of tax [Abstract]
Whether company has other comprehensive income OCI components
Yes Yes
presented net of tax
Other comprehensive income net of tax [Abstract]
Components of other comprehensive income that will not be
reclassified to profit or loss, net of tax [Abstract]
Other comprehensive income, net of tax, gains (losses) on
2 -3
remeasurements of defined benefit plans
Other comprehensive income, net of tax, gains (losses) from
100 0
investments in equity instruments
Total other comprehensive income that will not be reclassified
102 -3
to profit or loss, net of tax
Total other comprehensive income that will be reclassified to
0 0
profit or loss, net of tax
Total other comprehensive income 102 -3
Other comprehensive income attributable to net of tax [Abstract]
Other Comprehensive income, attributable to owners of parent 102 -3
Other Comprehensive income, attributable to non-controlling
0 0
interests
Total comprehensive income -24,354 -31,506
Comprehensive income attributable to net of tax [Abstract]
Comprehensive income, attributable to owners of parent -24,354 -31,506
Comprehensive income, attributable to non-controlling interests 0 0
Comprehensive income OCI components presented before tax [Abstract]
Whether company has comprehensive income OCI components presented
No No
before tax
Other comprehensive income before tax [Abstract]
Total other comprehensive income 102 -3
Other comprehensive income attributable to [Abstract]
Other Comprehensive income, attributable to owners of parent 102 -3
Other Comprehensive income, attributable to non-controlling
0 0
interests
Total comprehensive income -24,354 -31,506
Comprehensive income attributable to [Abstract]
Comprehensive income, attributable to owners of parent -24,354 -31,506
Comprehensive income, attributable to non-controlling interests 0 0
Earnings per share explanatory [TextBlock]
Earnings per share [Abstract]
Basic earnings per share [Abstract]
Basic earnings (loss) per share from continuing operations [INR/shares] -2,498 [INR/shares] -3,477
Total basic earnings (loss) per share [INR/shares] -2,498 [INR/shares] -3,477
Diluted earnings per share [Abstract]
Diluted earnings (loss) per share from continuing operations [INR/shares] -2,498 [INR/shares] -3,477

9
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Total diluted earnings (loss) per share [INR/shares] -2,498 [INR/shares] -3,477

10
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

[400200] Statement of changes in equity

Statement of changes in equity [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Equity attributable
to the equity
Components of equity [Axis] Equity [Member]
holders of the
parent [Member]
01/04/2020 01/04/2019 01/04/2020
to to 31/03/2019 to
31/03/2021 31/03/2020 31/03/2021
Other equity [Abstract]
Statement of changes in equity [Line items]
Equity [Abstract]
Balance at beginning of period (if restatement
0 0 0
is applicable)
Adjustments to equity for restatement [Abstract]
Effect of changes in accounting policy 0 0 0
Correction of prior period errors 0 0 0
Adjustments to equity for restatement 0 0 0
Changes in equity [Abstract]
Comprehensive income [Abstract]
Profit (loss) for period -24,456 -31,503 -24,456
Changes in comprehensive income components 102 -3 102
Total comprehensive income -24,354 -31,506 -24,354
Other changes in equity [Abstract]
Other additions to reserves 0 44,548 0
Deductions to reserves [Abstract]
Securities premium adjusted bonus shares 0 0 0
Securities premium adjusted writing off
0 0 0
preliminary expenses
Securities premium adjusted writing
off discount expenses issue shares 0 0 0
debentures
Securities premium adjusted premium
payable redemption preference shares 0 0 0
debentures
Securities premium adjusted
purchase own shares other securities 0 0 0
under section 68
Other utilisation of securities premium
0 0 0
if permitted
Other deductions to reserves 0 0 0
Total deductions to reserves 0 0 0
Appropriations for dividend, dividend tax
and general reserve [Abstract]
Dividend appropriation [Abstract]
Interim dividend appropriation
[Abstract]
Interim equity dividend
0 0 0
appropriation
Interim special dividend
0 0 0
appropriation
Total interim dividend appropriation 0 0 0
Final dividend appropriation [Abstract]
Final equity dividend appropriation 0 0 0
Final special dividend appropriation 0 0 0
Total final dividend appropriation 0 0 0
Total dividend appropriation 0 0 0
Equity dividend tax appropriation 0 0 0
Other appropriations 0 0 0
Transfer to Retained earnings 0 0 0
Total appropriations for dividend,
0 0 0
dividend tax and retained earnings
Appropriation towards bonus shares 0 0 0
Increase (decrease) through other
0 0 0
contributions by owners, equity
Increase (decrease) through other
0 0 0
distributions to owners, equity

11
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Increase (decrease) through other changes,

0 0 0
equity
Increase (decrease) through changes in
ownership interests in subsidiaries that 0 0 0
do not result in loss of control, equity
Other changes in equity, others 0 0 0
Total other changes in equity 0 44,548 0
Total increase (decrease) in equity -24,354 13,042 -24,354
Other equity at end of period 50,068 74,422 61,380 50,068

12
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Statement of changes in equity [Table] ..(2)

Unless otherwise specified, all monetary values are in Millions of INR
Equity attributable to the equity Share application money pending
Components of equity [Axis]
holders of the parent [Member] allotment [Member]
01/04/2019 01/04/2020 01/04/2019
to 31/03/2019 to to
31/03/2020 31/03/2021 31/03/2020
Other equity [Abstract]
Statement of changes in equity [Line items]
Equity [Abstract]
Balance at beginning of period (if restatement
0 0 0
is applicable)
Adjustments to equity for restatement [Abstract]
Effect of changes in accounting policy 0 0 0
Correction of prior period errors 0 0 0
Adjustments to equity for restatement 0 0 0
Changes in equity [Abstract]
Comprehensive income [Abstract]
Profit (loss) for period -31,503 0 0
Changes in comprehensive income components -3 0 0
Total comprehensive income -31,506 0 0
Other changes in equity [Abstract]
Other additions to reserves 44,548 0 0
Deductions to reserves [Abstract]
Securities premium adjusted bonus shares 0 0 0
Securities premium adjusted writing off
0 0 0
preliminary expenses
Securities premium adjusted writing
off discount expenses issue shares 0 0 0
debentures
Securities premium adjusted premium
payable redemption preference shares 0 0 0
debentures
Securities premium adjusted
purchase own shares other securities 0 0 0
under section 68
Other utilisation of securities premium
0 0 0
if permitted
Other deductions to reserves 0 0 0
Total deductions to reserves 0 0 0
Appropriations for dividend, dividend tax
and general reserve [Abstract]
Dividend appropriation [Abstract]
Interim dividend appropriation
[Abstract]
Interim equity dividend
0 0 0
appropriation
Interim special dividend
0 0 0
appropriation
Total interim dividend appropriation 0 0 0
Final dividend appropriation [Abstract]
Final equity dividend appropriation 0 0 0
Final special dividend appropriation 0 0 0
Total final dividend appropriation 0 0 0
Total dividend appropriation 0 0 0
Equity dividend tax appropriation 0 0 0
Other appropriations 0 0 0
Transfer to Retained earnings 0 0 0
Total appropriations for dividend,
0 0 0
dividend tax and retained earnings
Appropriation towards bonus shares 0 0 0
Increase (decrease) through other
0 0 0
contributions by owners, equity
Increase (decrease) through other
0 0 0
distributions to owners, equity
Increase (decrease) through other changes,
0 0 0
equity
Increase (decrease) through changes in
ownership interests in subsidiaries that 0 0 0
do not result in loss of control, equity
Other changes in equity, others 0 0 0

13
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Total other changes in equity 44,548 0 0

Total increase (decrease) in equity 13,042 0 0
Other equity at end of period 74,422 61,380 0 0

Statement of changes in equity [Table] ..(3)

Unless otherwise specified, all monetary values are in Millions of INR
Share application
money pending
Components of equity [Axis] Reserves [Member]
allotment
[Member]
01/04/2020 01/04/2019
31/03/2019 to to 31/03/2019
31/03/2021 31/03/2020
Other equity [Abstract]
Statement of changes in equity [Line items]
Equity [Abstract]
Balance at beginning of period (if restatement
0 0
is applicable)
Adjustments to equity for restatement [Abstract]
Effect of changes in accounting policy 0 0
Correction of prior period errors 0 0
Adjustments to equity for restatement 0 0
Changes in equity [Abstract]
Comprehensive income [Abstract]
Profit (loss) for period -24,456 -31,503
Changes in comprehensive income components 102 -3
Total comprehensive income -24,354 -31,506
Other changes in equity [Abstract]
Other additions to reserves 0 44,548
Deductions to reserves [Abstract]
Other utilisation of securities premium
0 0
if permitted
Other deductions to reserves 0 0
Total deductions to reserves 0 0
Appropriations for dividend, dividend tax
and general reserve [Abstract]
Dividend appropriation [Abstract]
Interim dividend appropriation
[Abstract]
Interim equity dividend
0 0
appropriation
Interim special dividend
0 0
appropriation
Total interim dividend appropriation 0 0
Final dividend appropriation [Abstract]
Final equity dividend appropriation 0 0
Final special dividend appropriation 0 0
Total final dividend appropriation 0 0
Total dividend appropriation 0 0
Equity dividend tax appropriation 0 0
Other appropriations 0 0
Transfer to Retained earnings 0 0
Total appropriations for dividend,
0 0
dividend tax and retained earnings
Appropriation towards bonus shares 0 0
Increase (decrease) through other
0 0
contributions by owners, equity
Increase (decrease) through other
0 0
distributions to owners, equity
Increase (decrease) through other changes,
0 0
equity
Increase (decrease) through changes in
ownership interests in subsidiaries that 0 0
do not result in loss of control, equity
Other changes in equity, others 0 0
Total other changes in equity 0 44,548
Total increase (decrease) in equity -24,354 13,042
Other equity at end of period 0 50,068 74,422 61,380

14
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Statement of changes in equity [Table] ..(4)

Unless otherwise specified, all monetary values are in Millions of INR
Retained earnings
Components of equity [Axis] Securities premium reserve [Member]
[Member]
01/04/2020 01/04/2019 01/04/2020
to to 31/03/2019 to
31/03/2021 31/03/2020 31/03/2021
Other equity [Abstract]
Statement of changes in equity [Line items]
Equity [Abstract]
Balance at beginning of period (if restatement
0 0 0
is applicable)
Adjustments to equity for restatement [Abstract]
Effect of changes in accounting policy 0 0 0
Correction of prior period errors 0 0 0
Adjustments to equity for restatement 0 0 0
Changes in equity [Abstract]
Comprehensive income [Abstract]
Profit (loss) for period 0 0 -24,456
Changes in comprehensive income components 0 0 102
Total comprehensive income 0 0 -24,354
Other changes in equity [Abstract]
Other additions to reserves 0 44,548 0
Deductions to reserves [Abstract]
Securities premium adjusted bonus shares 0 0
Securities premium adjusted writing off
0 0
preliminary expenses
Securities premium adjusted writing
off discount expenses issue shares 0 0
debentures
Securities premium adjusted premium
payable redemption preference shares 0 0
debentures
Securities premium adjusted
purchase own shares other securities 0 0
under section 68
Other utilisation of securities premium
0 0 0
if permitted
Other deductions to reserves 0 0 0
Total deductions to reserves 0 0 0
Appropriations for dividend, dividend tax
and general reserve [Abstract]
Dividend appropriation [Abstract]
Interim dividend appropriation
[Abstract]
Interim equity dividend
0 0 0
appropriation
Interim special dividend
0 0 0
appropriation
Total interim dividend appropriation 0 0 0
Final dividend appropriation [Abstract]
Final equity dividend appropriation 0 0 0
Final special dividend appropriation 0 0 0
Total final dividend appropriation 0 0 0
Total dividend appropriation 0 0 0
Equity dividend tax appropriation 0 0 0
Other appropriations 0 0 0
Transfer to Retained earnings 0 0 0
Total appropriations for dividend,
0 0 0
dividend tax and retained earnings
Appropriation towards bonus shares 0 0 0
Increase (decrease) through other
0 0 0
contributions by owners, equity
Increase (decrease) through other
0 0 0
distributions to owners, equity
Increase (decrease) through other changes,
0 0 0
equity
Increase (decrease) through changes in
ownership interests in subsidiaries that 0 0 0
do not result in loss of control, equity
Other changes in equity, others 0 0 0

15
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Total other changes in equity 0 44,548 0

Total increase (decrease) in equity 0 44,548 -24,354
Other equity at end of period 189,030 189,030 144,482 -138,962

Statement of changes in equity [Table] ..(5)

Unless otherwise specified, all monetary values are in Millions of INR
Components of equity [Axis] Retained earnings [Member] Other retained earning [Member]
01/04/2019 01/04/2020 01/04/2019
to 31/03/2019 to to
31/03/2020 31/03/2021 31/03/2020
Other equity [Abstract]
Statement of changes in equity [Line items]
Equity [Abstract]
Balance at beginning of period (if restatement
0 0 0
is applicable)
Adjustments to equity for restatement [Abstract]
Effect of changes in accounting policy 0 0 0
Correction of prior period errors 0 0 0
Adjustments to equity for restatement 0 0 0
Changes in equity [Abstract]
Comprehensive income [Abstract]
Profit (loss) for period -31,503 -24,456 -31,503
Changes in comprehensive income components -3 102 -3
Total comprehensive income -31,506 -24,354 -31,506
Other changes in equity [Abstract]
Other additions to reserves 0 0 0
Deductions to reserves [Abstract]
Other utilisation of securities premium
0 0 0
if permitted
Other deductions to reserves 0 0 0
Total deductions to reserves 0 0 0
Appropriations for dividend, dividend tax
and general reserve [Abstract]
Dividend appropriation [Abstract]
Interim dividend appropriation
[Abstract]
Interim equity dividend
0 0 0
appropriation
Interim special dividend
0 0 0
appropriation
Total interim dividend appropriation 0 0 0
Final dividend appropriation [Abstract]
Final equity dividend appropriation 0 0 0
Final special dividend appropriation 0 0 0
Total final dividend appropriation 0 0 0
Total dividend appropriation 0 0 0
Equity dividend tax appropriation 0 0 0
Other appropriations 0 0 0
Transfer to Retained earnings 0 0 0
Total appropriations for dividend,
0 0 0
dividend tax and retained earnings
Appropriation towards bonus shares 0 0 0
Increase (decrease) through other
0 0 0
contributions by owners, equity
Increase (decrease) through other
0 0 0
distributions to owners, equity
Increase (decrease) through other changes,
0 0 0
equity
Increase (decrease) through changes in
ownership interests in subsidiaries that 0 0 0
do not result in loss of control, equity
Other changes in equity, others 0 0 0
Total other changes in equity 0 0 0
Total increase (decrease) in equity -31,506 -24,354 -31,506
Other equity at end of period -114,608 -83,102 -138,962 -114,608

16
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Statement of changes in equity [Table] ..(6)

Unless otherwise specified, all monetary values are in Millions of INR
Other retained
Components of equity [Axis]
earning [Member]
31/03/2019
Other equity [Abstract]
Statement of changes in equity [Line items]
Equity [Abstract]
Changes in equity [Abstract]
Other equity at end of period -83,102

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

01/04/2020
to
31/03/2021
Textual information (2)
Disclosure of notes on changes in equity [TextBlock] [See below]

17
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Textual information (2)

Disclosure of notes on changes in equity [Text Block]

Equity share capital

As at April 1, Changes in equity share capital during the As at March 31,

Year ended March 31, 2021
2020 year 2021

Equity share capital (refer note

10 - 10
9)

10 - 10

Other equity

Year ended March 31, 2021 Retained earnings Securities premium Total equity

Balance as at April 1, 2020 (1,14,608) 1,89,030 74,422

Comprehensive (loss) for the year

(Loss) for the year (24,456) - (24,456)

Gain on FVTOCI financial assets 100 - 100

Re-measurement gain on defined benefit plans 2 - 2

Total comprehensive (loss) for the year (24,354) - (24,354)

Issue of equity shares - - -

Balance as at March 31, 2021 (1,38,962) 1,89,030 50,068

Equity share capital

As at April 1, Changes in equity share capital during the As at March 31,

Year ended March 31, 2020
2019 year 2020

Equity share capital (refer note

8 2 10
9)

8 2 10

Other equity

18
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Year ended March 31, 2020 Retained earnings Securities premium Total equity

Balance as at April 1, 2019 (83,102) 1,44,482 61,380

Comprehensive (loss) for the year

(Loss) for the year (31,503) - (31,503)

Re-measurement (losses) on defined benefit plans (3) - (3)

Total comprehensive (loss) for the year (31,506) - (31,506)

Issue of equity shares - 44,548 44,548

Balance as at the March 31, 2020 (1,14,608) 1,89,030 74,422

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

19
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

[320000] Cash flow statement, indirect

Unless otherwise specified, all monetary values are in Millions of INR
01/04/2020 01/04/2019
to to 31/03/2019
31/03/2021 31/03/2020
Statement of cash flows [Abstract]
Whether cash flow statement is applicable on company Yes Yes
Cash flows from used in operating activities [Abstract]
Profit before tax -24,448 -31,503
Adjustments for reconcile profit (loss) [Abstract]
Adjustments for decrease (increase) in inventories -25,997 -5,138
Adjustments for decrease (increase) in trade receivables, current -8,439 8,155
Adjustments for decrease (increase) in other current assets -9,514 -6,828
Adjustments for decrease (increase) in other non-current assets 0 0

Adjustments for other financial assets, current (A) 687 (B) 13,147
Adjustments for increase (decrease) in trade payables, current 26,905 -7,519
Adjustments for increase (decrease) in other current liabilities 562 54
Adjustments for depreciation and amortisation expense 7 10
Adjustments for provisions, current 21 14
Adjustments for provisions, non-current 16 7
Adjustments for other financial liabilities, current 37 -177

Adjustments for unrealised foreign exchange losses gains (C) -34 (D) 112
Adjustments for share-based payments 1,593 1,470

Other adjustments to reconcile profit (loss) (E) 63 (F) -1,071

Total adjustments for reconcile profit (loss) -14,093 2,236
Net cash flows from (used in) operations -38,541 -29,267
Interest paid -742 -530
Interest received -3,520 -2,462
Income taxes paid (refund) 158 57
Net cash flows from (used in) operating activities -41,477 -31,256
Cash flows from used in investing activities [Abstract]
Cash flows used in obtaining control of subsidiaries or other businesses (G) 3,705 (H) 357
Proceeds from sales of property, plant and equipment 0 2
Purchase of property, plant and equipment 4 9

Proceeds from sales of investment property (I) 3

(J) 424,896
Purchase of investment property 0 397,930
Cash advances and loans made to other parties 252,985 89,606
Cash receipts from repayment of advances and loans made to other parties 280,072 60,496
Interest received 2,297 1,469
Net cash flows from (used in) investing activities 25,678 -1,039
Cash flows from used in financing activities [Abstract]
Proceeds from issuing shares 0 44,550

Proceeds from borrowings (K) 218,184 (L) 47,503

Repayments of borrowings (M) 212,735 (N) 47,433
Interest paid 929 466
Net cash flows from (used in) financing activities 4,520 44,154
Net increase (decrease) in cash and cash equivalents before effect of
-11,279 11,859
exchange rate changes
Net increase (decrease) in cash and cash equivalents -11,279 11,859
Cash and cash equivalents cash flow statement at end of period 767 12,046 187

20
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Footnotes
(A) (Increase)/decrease in current loans financial assets 2 Decrease in current other financial assets 685
(B) (Increase)/decrease in current loans financial assets (3) Decrease in current other financial assets 13,150
(C) Unrealised foreign exchange loss/(gain) on forward contracts 48 Unrealised foreign exchange (gain)/loss, net (82)
(D) Unrealised foreign exchange loss/(gain) on forward contracts (64) Unrealised foreign exchange (gain)/loss, net 176
(E) Allowance for doubtful and bad debts and advances 91 Bad debts and advances written off - Net gain on sale of current
investments (3) Unrealized (gain) / loss on investments - Discount on non-convertible debentures amortized - Premium on
non-convertible debentures amortized - Liabilities no longer required written back (25)
(F) Allowance for doubtful and bad debts and advances 134 Bad debts and advances written off 40 Net gain on sale of current
investments (1,208) Unrealized (gain) / loss on investments 41 Discount on non-convertible debentures amortized (0) Premium on
non-convertible debentures amortized 1 Liabilities no longer required written back (80)
(G) Other Investments (1,105) Investments in associate (2,600)
(H) Other Investments (357) Investments in associate -
(I) Redemption of non-convertible debentures, bonds and commercial paper - Proceeds from sale of mutual funds, non-convertible
debentures and bonds 3
(J) Redemption of non-convertible debentures, bonds and commercial paper 4,450 Proceeds from sale of mutual funds,
non-convertible debentures and bonds 4,20,446
(K) Intercorporate loan availed 1,79,807 Working Capital demand loan availed 38,377
(L) Intercorporate loan availed 39,988 Working Capital demand loan availed 7,515
(M) Intercorporate loan repaid (1,74,178) Working Capital demand loan repaid (38,557)
(N) Intercorporate loan repaid (40,098) Working Capital demand loan repaid (7,335)

[610100] Notes - List of accounting policies

Unless otherwise specified, all monetary values are in Millions of INR
01/04/2020
to
31/03/2021
Textual information (3)
Disclosure of significant accounting policies [TextBlock] [See below]

21
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Textual information (3)

Disclosure of significant accounting policies [Text Block]

1. Corporate information

Flipkart India Private Limited (herein after referred to as "the Company") was incorporated on September 19, 2011 as a
private limited company under the Companies Act, 1956. The registered office of the Company is located at Buildings
Alyssa, Begonia & Clover, Embassy Tech Village, Outer Ring Road, Devarabeesanahalli Village, Bengaluru – 560103,
Karnataka, India w.e.f. April 1, 2019. The holding company is Flipkart Private Limited, Singapore (formerly Flipkart Limited,
Singapore) and the ultimate holding company is Walmart Inc., U.S.A.. The Company is engaged in B2B distribution of
mobile, television, laptop, tablet, mobile accessory, footwear, clothing, grocery etc. During the year ended March 31, 2021,
the Company has forayed into omnichannel business through its B2B marketplace.

The Consolidated Ind-AS Financial Statements were authorised for issue in accordance with a resolution by the Company’s
Board of Directors on July 26, 2021

1b. The associate(s) included in the Consolidated Ind AS Financial Statements are as under:

Country of Proportion of ownership as at Date of acquisition/

Name of the company Relationship
Incorporation March 31, 2021 Incorporation

Arvind Youth Brands

India Associate 23.75% July, 2020
Private Limited

2. Summary of Significant Accounting Policies

2.1 Basis of preparation, measurement and consolidation

The Consolidated Ind-AS Financial Statements have been prepared in accordance with Indian Accounting Standards
(Ind-AS) under the historical cost convention on the accrual basis, except for certain financial assets and liabilities measured
at fair value (refer accounting policy regarding financial instruments) and the provisions of the Companies Act, 2013 (""Act"")
(to the extent notified). The Ind-AS are prescribed under Section 133 of the Act read with Rule 3 of the Companies (Indian
Accounting Standards) Rules, 2015, as amended from time to time.

The Consolidated Ind AS Financial Statements comprise of the Standalone Ind AS Financial Statements of the company and
its Associate (collectively, the Company)

The Consolidated Ind-AS Financial Statements are presented in Indian Rupees (INR or Rs.) and all values in the tables are
reported in millions of Indian rupees (Rupees in millions ('Mn')) upto two decimal place except share data, unless otherwise
stated. Certain notes and disclosures in the Consolidated Ind-AS Financial Statements has been represented as Zero (""0""),
where the absolute amount is below the rounding off norms adopted by the Company.

Accounting policies have been consistently applied except where a newly issued accounting standard is initially adopted or a
revision to an existing accounting standard requires a change in the accounting policy hitherto in use.

The Company controls an entity when it is exposed to, or has rights to, variable returns from its involvement with the entity
and has the ability to affect those returns through its power over the entity. The Company reassess whether or not it controls
an investee if facts and circumstances indicate that there are changes to one or more of the three elements listed above. In
assessing control, potential voting rights that currently are exercisable are taken into account. The Consolidated Ind AS
financial statements of subsidiary is included in the Consolidated Ind-AS Financial Statements from the date on which control
commences until the date on which control ceases.

Non-controlling interest is the equity in a subsidiary not attributed to the Company and is presented separately from the
Company’s equity.

Profit or loss and each component of other comprehensive income are attributed to the equity holders of the Parent and to
the non-controlling interests, even if this results in the non-controlling interests having a deficit balance. All intra-Company
balances, transactions, income and expenses are eliminated in full on consolidation.

The Company uses the direct method of consolidation and on disposal of a foreign operation, the gain or loss that is
reclassified to profit or loss reflects the amount that arises from using this method."

Changes in the Company’s interests in subsidiaries that do not result in a loss of control are accounted for as equity
transactions, that is, as transactions with the owners in their capacity as owners. The carrying amount of the Company’s

22
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

interests and the non-controlling interests are adjusted to reflect the changes in their relative interests in the subsidiaries.
Any difference between the amount by which the non-controlling interests are adjusted and the fair value of the consideration
paid or received is recognized directly in equity and attributed to equity holders of the Parent.

When the Company ceases to have control (subsidiaries), exercise significant influence (associates) or exert joint control
(joint ventures), any retained interest is remeasured to its fair value, with the change in the carrying value recognized in the
statement of profit or loss. In addition, any amounts previously recognized in OCI in respect of de-consolidated entities are
accounted for as if Company had directly disposed off related assets or liabilities.

2.2 Business Combination

Business combinations are accounted for by applying the acquisition method as at the date of acquisition, which is the date
on which control is transferred to the Company. Identifiable assets acquired and liabilities assumed in a business
combination are measured initially at their fair values at the acquisition date. When the Company acquires a business, it
assess the financial assets and liabilities assumed for appropriate classification and designation in accordance with
contractual terms, economic circumstances and pertinent conditions as at acquisition date. The excess of the cost of
acquisition over the interest in the fair value of the identifiable net assets acquired and attributable to the owners of the
Company is recorded as goodwill. The cost of an acquisition is measured as the aggregate of the consideration transferred,
which is measured at the acquisition date fair value and the amount of a non-controlling interest in the acquire. Transaction
costs incurred in connection with a business acquisition are expensed as and when incurred. If the fair value of the net
assets acquired is in excess of the aggregate consideration transferred, then the gain is recognized in Other Comprehensive
Income (OCI) and accumulated in equity as capital reserve.

Any contingent consideration payable is measured at fair value at the acquisition date. Subsequent changes in the fair value
of contingent consideration are recognized in Statement of Profit and Loss. Contingent consideration that is classified as
equity is not remeasured and subsequent settlement is accounted for within equity.

Business combinations involving entities or businesses under common control shall be accounted for using the pooling of
interest method."

2.3 Functional and Foreign currency

Functional and presentation currency

Management has determined the currency of the primary economic environment in which the entity resides in and operates
as the functional currency. The functional currency of the Company is Indian Rupees (INR). The Consolidated Ind-AS
Financial Statements have been presented in INR, as it best represents the operating business performance and underlying
transactions.

Transactions and balances

Transactions in foreign currencies are measured in the functional currency of the Company and are recorded on initial
recognition in the functional currency at exchange rates prevailing at the transaction dates. Monetary assets and liabilities
denominated in foreign currencies are translated at the rate of exchange ruling at the end of the reporting period.

Differences arising on settlement or translation of monetary items are recognized in the Statement of Profit and Loss.

Non-monetary items that are measured in historical cost in a foreign currency are translated using the exchange rates as at
the dates of the initial transactions. Non-monetary items measured at fair value in a foreign currency are translated using the
exchange rates at the date when the fair value was determined. The gain or loss arising on translation of non-monetary items
measured at fair value is treated in line with the recognition of the gain or loss on the change in fair value of the item (i.e.,
translation differences on items whose fair value gain or loss is recognized in Other Comprehensive Income (OCI) or
Statement of Profit and Loss are also recognized in OCI or Statement of Profit and Loss, respectively).

2.4 Property, plant and equipment

(a) Recognition and measurement

All items of property, plant and equipment are initially measured at cost and subsequently it is measured at cost less
accumulated depreciation and impairment losses, if any. Costs include expenditures directly attributable to acquisition of
assets. The cost of an item of property, plant and equipment is recognized as an asset, if and only if, it is probable that future
economic benefits associated with the item will flow to the Company and the cost of the item can be measured reliably.
When significant parts of property, plant and equipment are required to be replaced in intervals, the Company recognizes
such parts as individual assets with specific useful lives and depreciation, respectively. Any subsequent cost incurred is
recognized in the carrying amount of the property, plant and equipment as a replacement if the recognition criteria are
satisfied. All other repair and maintenance costs are recognized in Statement of Profit and Loss as incurred.

(b) Depreciation

The Company depreciates property, plant and equipment over the estimated useful life on a straight-line basis from the date
the assets are available for use. Leasehold improvements are amortized over the estimated useful life or the lease period,
whichever is lower.

Depreciation is not recorded on capital work-in-progress until construction and installation are complete and the asset is

23
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

ready for its intended use.

The residual value, estimated useful life and method of depreciation of property, plant and equipment are reviewed at each
financial year and adjusted prospectively, if appropriate. The estimated useful lives of assets are as follows:

Category of assets Estimated useful life

Computers 3 years

Furniture and fixtures 5 years

Office equipment 5 years

Electrical installations and equipment 5 years

The Company, based on technical assessment made by technical expert and management estimate, depreciates the certain
items of plant and equipment over estimated useful lives which are different from the useful life prescribed in Schedule II to
the Act. The management believes that these estimated useful lives are realistic and reflect fair approximation of the period
over which the assets are likely to be used.

The carrying values of property, plant and equipment are reviewed for impairment when events or changes in circumstances
indicate that the carrying value may not be recoverable.

An item of plant and equipment is derecognized upon disposal or when no future economic benefits are expected from its
use or disposal. Any gain or loss on de-recognition of the asset is included in the Statement of Profit and Loss in the year the
asset is derecognized.

Advances paid towards the acquisition of property, plant and equipment outstanding at each Balance Sheet date is classified
as capital advances under other non-current assets and the cost of assets not ready to use before such date are disclosed
under ‘Capital work-in-progress’. Subsequent expenditures relating to property, plant and equipment is capitalized only when
it is probable that future economic benefits associated with these will flow to the Company and the cost of the item can be
measured reliably. Repairs and maintenance costs are recognized in the Statement of Profit and Loss when incurred. The
cost and related accumulated depreciation are eliminated from the financial statements upon sale or retirement of the asset
and the resultant gains or losses are recognized in the Statement of Profit and Loss.

2.5 Goodwill and Intangible assets

Goodwill

Goodwill represents the excess of the purchase price over the fair value of the identifiable assets and liabilities acquired in a
business combination. If the excess is negative, a bargain purchase gain is recognized immediately in OCI and accumulated
in equity as capital reserve.

Goodwill is tested for impairment at least annually and when events occur or changes in circumstances indicate that the
recoverable amount of the cash generating unit is less than its carrying value. The goodwill impairment test is performed at
the level of cash-generating unit or Company's of cash-generating units which represent the lowest level at which goodwill is
monitored for internal management purposes.

Where the recoverable amount of the cash-generating unit is less than the carrying amount, an impairment loss is
recognized in Statement of Profit and Loss. Impairment losses recognized for goodwill are not reversed in subsequent
periods.

Intangible assets

Intangible assets acquired separately are measured on initial recognition at cost. Intangible assets acquired in business
combination are measured at fair value as at the date of acquisition. Following initial recognition, intangible assets are
carried at cost less any accumulated amortization and impairment losses, if any. Internally generated intangible assets,
excluding capitalized development costs, are not capitalized and expenditure is recognized in the Statement of Profit and
Loss when it is incurred.

Subsequent expenditures are capitalized only when they increase the future economic benefits embodied in the specific
asset to which they relate.

Intangible assets with indefinite useful lives or not yet available are not amortized, but instead tested for impairment annually.
Intangible assets with finite lives are amortized over the estimated useful life. The amortization period and the amortization
method for an intangible asset with a finite useful life are reviewed at least at the end of each reporting period. The
amortization expense on intangible assets with finite lives is recognized in the Statement of Profit and Loss in the expense
category consistent with the nature of the intangible assets.

Gains or losses arising from de-recognition of an intangible asset are measured as the difference between the net disposal
proceeds and the carrying amount of the asset and are recognized in the Statement of Profit and Loss when the asset is
derecognized.

The useful lives of the intangible assets assessed by the management are as follows and these amortized on a straight line

24
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

basis over the period of the assets:

Category of assets Estimated useful life

Computer software 1- 3 years

2.6 Inventories

Inventories are stated at the lower of cost or net realizable value. Costs include purchase costs and other costs incurred in
bringing the inventories to their present location and condition. Inventories are primarily accounted for using first-in first-out
basis.

Net realizable value is the estimated selling price in the ordinary course of business, less estimated costs necessary to make
the sale.

Where necessary, allowance is provided for damaged, obsolete and slow moving items to adjust the carrying value of
inventories to the lower of cost and net realizable value."

2.7 Financial Instruments

A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity
instrument of another entity. Financial instruments in the form of financial assets and financial liabilities are generally
presented separately. Financial instruments are recognized on these balance sheet when the Company becomes a party to
the contractual provisions of the instrument.

Upon initial recognition, financial instruments are measured at fair value. Transaction costs directly attributable to the
acquisition or issue of financial instruments are recognized in determining the carrying amount, if it is not classified as at fair
value through profit or loss. Subsequently, financial instruments are measured according to the category in which they are
classified.

Financial assets are classified into following categories:

- Financial assets carried at amortized cost

- Financial assets fair valued through other comprehensive income (FVTOCI)

- Financial assets at fair value through profit or loss (FVTPL)"

Financial liabilities are classified into financial liabilities at fair value through profit or loss and other financial liabilities.

Transaction costs are apportioned between the liability, derivative and equity components of the convertible preference
shares based on the allocation of proceeds to the liability, derivative and equity components when the instruments are
initially recognised. Equity component are accounted for as a deduction from equity net of tax benefit, financial liabilities
measured at amortised cost are included in the calculation of the amortised cost using effective interest method and financial
liabilities measured at FVTPL are recognised in the statement of profit or loss as they are incurred.

Financial assets

Financial assets primarily comprise of trade receivables, loan and receivables, cash and bank balances and marketable
securities and investments.

Subsequent measurement

The subsequent measurement of financial assets depends on their classification as follows:

Financial assets carried at amortized cost

"A financial asset is subsequently measured at amortized cost if it meets both the following criteria:

(i) the asset is held within a business model whose objective is to hold the asset to collect contractual cash flows, and

(ii) the contractual terms of the financial assets give rise on a specified date to cash flows that are solely payments of
principal and interest on the principal outstanding."

Financial assets at fair value through other comprehensive income (FVTOCI):

A financial asset is subsequently measured at fair value through other comprehensive income if it meets both the following
criteria:

"(i) the asset is held within a business model whose objective is achieved by both collecting contractual cash flows and
selling financial assets, and

(ii) the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal
and interest on the principal amount outstanding. "

25
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Further, in cases where the Company has made an irrevocable election based on its business model, for its investments
which are classified as equity instruments, the subsequent changes in fair value are recognized in other comprehensive
income. For Financial assets at FVTOCI, all fair value changes in the instruments excluding dividends, are recognized in OCI
and is never recycled to Statement of Profit and Loss, even on sale of the instrument. Interest income earned on FVTOCI
instruments are recognized in Statement of Profit and Loss.

Financial assets at fair value through profit or loss (FVTPL) :

A financial asset which does not meet the amortized cost or FVTOCI criteria is measured as FVTPL. Financial assets at
FVTPL are measured at fair value at the end of each reporting period, with any gains or losses on re-measurement
recognized in Statement of Profit and Loss. The gain or loss on disposal is recognized in Consolidated Statement of Profit
and Loss. Interest income earned on FVTPL instruments are recognized in Statement of Profit and Loss.

Financial liabilities:

Financial liabilities primarily include trade payables, borrowings, derivative financial liabilities and other liabilities.

Financial liabilities measured at amortized cost

After initial recognition, financial liabilities are subsequently measured at amortized cost using the effective interest method,
except for contingent considerations recognized in a business combination which is subsequently measured at FVTPL. For
trade and other payables, the carrying amounts approximate fair value due to the short term maturity of these instruments.

Compound financial instruments

Compound financial instruments have both a financial liability and an equity component from the issuer’s perspective. The
components are defined based on the terms of the financial instrument and presented and measured separately according to
their substance. At initial recognition of a compound financial instrument, the financial liability component is recognized at fair
value and the residual amount is allocated to equity.

Derivative financial instruments

"All derivatives are recognized initially at fair value on the date a derivative contract is entered into and subsequently
re-measured at fair value. Embedded derivatives are separated from the host contract and accounted for separately if they
are not closely related to the host contract. The Company measures all derivative financial instruments based on fair values
derived from market prices of the instruments or from option pricing models, as appropriate. Changes in the fair value of any
derivative instruments that do not qualify for hedge accounting are recognized immediately in the Statement of Profit and
Loss, except for derivatives that are highly effective and qualify for cash flow or net investment hedge accounting.

The Company uses foreign exchange forward contracts to manage some of its transaction exposures. The foreign exchange
forward contracts are not designated as cash flow hedges and are entered into for periods consistent with foreign currency
exposure of the underlying transactions."

Financial Guarantee

"A financial guarantee contract is a contract that requires the Company to make specified payments to reimburse the holder
for a loss it incurs because a specified debtor fails to make payment when due in accordance with the terms of a debt
instrument.

Financial guarantee contracts are recognized initially as a liability at fair value, adjusted for transaction costs that are directly
attributable to the issuance of the guarantee. Subsequently it is measured at the higher of:

(i) the amount of the loss allowance determined in accordance Expected Credit Loss model, and

(ii) the amount initially recognized less, when appropriate, the cumulative amount of income recognized in accordance with
the principles of Ind-AS 18."

De-recognition of financial assets and liabilities

"The Company derecognizes a financial asset only when the contractual rights to the cash flows from the asset expires or it
transfers the financial asset and substantially all the risks and rewards of ownership of the asset to another entity. If the
Company neither transfers nor retains substantially all the risks and rewards of ownership and continues to control the
transferred asset, the Company recognizes its retained interest in the asset and an associated liability for amounts it may
have to pay. If the Company retains substantially all the risks and rewards of ownership of a transferred financial asset, the
Company continues to recognize the financial asset and also recognizes a collateralized borrowing for the proceeds
received.

On de-recognition of a financial asset measured at amortized cost, the difference between the asset's carrying amount and
the sum of the consideration received and receivable is recognized in the Statement of Profit and Loss. In addition, on
de-recognition of an investment in a debt instrument classified as at FVTOCI, the cumulative gain or loss previously
accumulated in the investments revaluation reserve is reclassified to Statement of Profit and Loss. In contrast, on
de-recognition of an investment in equity instrument which the Company has elected on initial recognition to measure at
FVTOCI, the cumulative gain or loss previously accumulated in the investments revaluation reserve is not reclassified to
Statement of Profit and Loss, but is transferred to retained earnings.

26
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

The Company derecognizes financial liabilities when, and only when, the Company's obligations are discharged, cancelled or
they expire. The difference between the carrying amount of the financial liability derecognized and the consideration paid and
payable, including any non-cash assets transferred or liabilities assumed, is recognized in the Statement of Profit and Loss.

Offsetting of financial instruments

Financial assets and financial liabilities are offset with the net amount reported in these balance sheet only if there is a
current enforceable legal right to offset the recognized amounts and an intent to settle on a net basis, or to realize the assets
and settle the liabilities simultaneously.

2.8 Impairment

Financial assets

Ind-AS 109 requires the Company to record expected credit losses on all of its debt securities, loans and receivables, either
on a 12-month or life time expected credit losses. The Company recognizes loss allowances using the Expected Credit Loss
(ECL) model for the financial assets which are not fair valued through profit or loss. Loss allowance for trade receivable with
no significant financing component is measured at an amount equal to life time ECL. For all other financial assets, ECL are
measured at an amount equal to 12-month ECL, unless there is a significant increase in the credit risk from initial recognition
in which case those are measured at lifetime ECL. The amount of expected credit losses (or reversal) that is required to
adjust the loss allowance at the reporting date to the amount that is required to be recognized is recognized as an
impairment gain or loss in Statement of Profit and Loss.

Non - financial assets

"The Company assesses whether there are any indicators of impairment for all non-financial assets at each reporting date.
Goodwill and intangible assets with indefinite economic lives are tested for impairment annually and at other times when
such indicators exist.

An asset's recoverable amount is the higher of an asset's or cash-generating unit's fair value less costs to sell and its value
in use and is determined for an individual asset, unless the asset does not generate cash inflows that are largely
independent of those from other assets or Company's of assets. Where the carrying amount of an asset or cash-generating
unit exceeds its recoverable amount, the asset is considered impaired and is written down to its recoverable amount. In
assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate
that reflects current market assessments of the time value of money and the risks specific to the asset. In determining fair
value less costs to sell, recent market transactions are taken into account, if available. If no such transactions can be
identified, an appropriate valuation model is used. These calculations are corroborated by valuation multiples or other
available fair value indicators.

Other non-financial assets are tested for impairment when there are indicators that the carrying amounts may not be
recoverable."

2.9 Cash and cash equivalents

Cash and cash equivalents comprise cash at banks and on hand, demand deposits, and short-term, highly liquid investments
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 cash equivalent, as defined
above, net of outstanding bank overdrafts as they are considered an integral part of the Company’s cash management.

2.10 Restricted Cash

Cash that is restricted as to withdrawal for use or pledged as security is reported separately under other assets, and is not
included in the total cash and cash equivalents in the statements of cash flows and cash and cash equivalents in these
balance sheet. The Company’s restricted cash mainly represents (a) the secured deposits held in designated bank accounts
for which Bank Guarantee have been issued/utilized; (b) time deposits that are pledged for outstanding short-term loan and
borrowings.

2.11 Provisions

Provisions are recognized when the Company has a present obligation (legal or constructive) as a result of a past event, it is
probable that an outflow of resources embodying economic benefits will be required to settle the obligation and the amount
of the obligation can be estimated reliably.

The amount recognized as a provision is the best estimate of the consideration required to settle the present obligation at the
end of the reporting period, taking into account the risks and uncertainties surrounding the obligation. The expense relating
to a provision is presented in the Statement of Profit and Loss net of any reimbursement.

If the effect of the time value of money is material, provisions are discounted using a current pre-tax rate that reflects, when
appropriate, the risks specific to the liability. When discounting is used, the increase in the provision due to the passage of
time is recognized as a finance cost. The amount recognized as a provision is the best estimate of the consideration required
to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding
the obligation.

27
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, the
receivable is recognized as an asset, if it is virtually certain that reimbursement will be received and the amount of the
receivable can be measured reliably.

2.12 Employee benefits

Defined benefit plan

In accordance with applicable laws in India, the Company provides for gratuity, a defined benefit retirement plan (“the
Gratuity Plan”) for every employee who has completed 5 years or more of service on departure at 15 days salary (last drawn
salary). The Gratuity Plan provides for a lump sum payment to eligible employees at retirement, death, incapacitation or
termination of employment based on last drawn salary and tenure of employment with the Company. Liabilities with regard to
the Gratuity Plan are determined by actuarial valuation on the reporting date using projected unit credit method. The gratuity
scheme is not funded.

The cost of providing benefits under the defined benefit plan is determined using the projected unit credit method.
Re-measurements, comprising of actuarial gains and losses, the effect of the asset ceiling, excluding net interest and the
return on plan assets (excluding net interest), are recognised immediately in these balance sheet with a corresponding debit
or credit to retained earnings through other comprehensive income in the period in which they occur. Re-measurements are
not reclassified to Statement of Profit and Loss in subsequent periods.

Past service costs are recognised in Statement of Profit and Loss on the earlier of:

- The date of the plan amendment or curtailment, and

- The date that the Company recognizes restructuring-related costs

Net interest is calculated by applying the discount rate to the net defined benefit liability or asset. The Company recognises
the following changes in the net defined benefit obligation under employee benefit expenses’ in Statement of Profit and Loss.

Service costs comprising current service costs, past-service costs, gains and losses on curtailments and non-routine
settlements.

All actuarial gains and losses are immediately recognized in other comprehensive income, net of taxes, if any, and
permanently excluded from Statement of Profit and Loss.

Defined contribution plan

The Company makes contributions to the Provident Fund scheme, a defined contribution benefit scheme. These
contributions are deposited with Government administered fund and recognized as an expense in the period in which the
related service is performed. There is no further obligation on the Company on this defined contribution plan.

Compensated Absences

Employee entitlements to annual leave are recognised as a liability when they accrue to the employees. The estimated
liability for leave is recognised for services rendered by employees up to the end of the reporting period.

Accumulated leave, which is expected to be utilized within the next 12 months, is treated as short-term employee benefit.
The Company measures the expected cost of such absences as the additional amount that it expects to pay as a result of
the unused entitlement that has accumulated at the reporting date.

The Company treats accumulated leave expected to be carried forward beyond twelve months, as long-term employee
benefit for measurement purposes. Such long-term compensated absences are provided for based on the actuarial valuation
using the projected unit credit method at the year-end. Actuarial gains/losses are immediately taken to the Statement of
Profit and Loss and are not deferred. The Company presents the entire leave as a current liability in these balance sheet,
since it does not have an unconditional right to defer its settlement for 12 months after the reporting date.

Share based payments

Flipkart Private Limited (Holding Company) operates ESOP for its Company entities which has equity settled and cash
settled components. The Company recognises the cost and corresponding liability based on the advice received from
Flipkart Private Limited.

Equity settled transactions

The cost of equity settled share-based payment transactions with employees is measured by reference to the fair value of
the options using option pricing model at the date on which the options are granted which takes into account market
conditions and non-vesting conditions

Cash settled transactions

" The cost of cash settled share-based payment transactions is measured initially and at each reporting date up to and
including the settlement date, with changes in fair value recognised in employee benefits expense.

28
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

The fair value is expensed over the period until the vesting date with recognition of corresponding liability to pay Holding
Company."

2.13 Leases

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

Company as a lessee

The Company applies a single recognition and measurement approach for all leases, except for short-term leases and
leases of low-value assets. The Company recognises lease liabilities to make lease payments and right-of-use assets
representing the right to use the underlying assets.

i) Right-of-use assets

The Company recognises right-of-use assets at the commencement date of the lease (i.e., the date the underlying asset is
available for use). Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and
adjusted for any remeasurement of lease liabilities. The cost of right-of-use assets includes the amount of lease liabilities
recognised, initial direct costs incurred, and an estimate of costs to dismantle and remove the underlying asset or to restore
the underlying asset or the site on which it is located, and lease payments made at or before the commencement date less
any lease incentives received.

Right-of-use assets are depreciated on a straight-line basis over the shorter of the lease term and the estimated useful lives
of the assets.

If ownership of the leased asset transfers to the Company at the end of the lease term or the cost reflects the exercise of a
purchase option, depreciation is calculated using the estimated useful life of the asset. The right-of-use assets are also
subject to impairment.

ii) Lease liabilities

At the commencement date of the lease, the Company recognises lease liabilities measured at the present value of lease
payments to be made over the lease term. The lease payments include fixed payments (including in substance fixed
payments) less any lease incentives receivable, variable lease payments that depend on an index or a rate, and amounts
expected to be paid under residual value guarantees. The lease payments also include the exercise price of a purchase
option reasonably certain to be exercised by the Company and payments of penalties for terminating the lease, if the lease
term reflects the Company exercising the option to terminate.

In calculating the present value of lease payments, the Company uses its incremental borrowing rate at the lease
commencement date because the interest rate implicit in the lease is not readily determinable. After the commencement
date, the amount of lease liabilities is increased to reflect the accretion of interest and reduced for the lease payments made.
In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the lease term, a
change in the lease payments (e.g., changes to future payments resulting from a change in an index or rate used to
determine such lease payments) or a change in the assessment of an option to purchase the underlying asset.

iii) Short-term leases and leases of low-value assets

The Company has elected not to recognise right-of-use assets and liabilities for short-term leases that have a lease term of
12 months or less and leases of low-value assets where the value of an underlying asset does not individually exceed INR 3
million. The Company recognises the lease payments associated with these leases as an expense on a straight-line basis
over the lease term."

2.14 Revenue from contracts with customers

"Revenue is recognised upon transfer of control of promised products or services to customers in an amount that reflects the
consideration the Company expect to receive in exchange for those products or services.

Revenue is measured based on the amount of consideration that the Company expect to receive, reduced by estimates for
return allowances and rebates. Revenue also excludes any amounts collected on behalf of third parties, including sales and
goods and services tax. "

The Company accounts for volume discounts and pricing incentives to customers as a reduction of revenue. The Company
provide incentives to customers in the form of discounts on items sold.

The Company may provide refunds/credits to customers on sales return. Refunds/credits are accounted for as variable
consideration at contract inception when estimating the amount of revenue to be recognised when a performance obligation
is satisfied to the extent that it is probable that a significant reversal of revenue will not occur and updated as additional
information becomes available.

Refunds/credits are recorded as reduction of revenue. The Company estimate our refund liabilities using historical refund
experience. The Company assess the trends that could affect our estimates on an ongoing basis and adjust the refund
liability calculations if it appears that changes in circumstances, including changes to our refund policies or general economic
conditions, may cause future refunds to differ from our initial estimates.

29
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Right of return asset represents the Company’s right to recover the goods expected to be returned by customers. The asset
is measured at the former carrying amount of the inventory, less any expected costs to recover the goods, including any
potential decreases in the value of the returned goods. The Company updates the measurement of the asset recorded for
any revisions to its expected level of returns, as well as any additional decreases in the value of the returned products.

Revenues in excess of invoicing, which are dependent upon both performance and passage of time, are classified as
contract assets (which the Company refer as unbilled revenue) while invoicing in excess of revenues are classified as
contract liabilities (which the Company refer to as unearned revenues).

Contract modifications are accounted for when additions, deletions or changes are approved either to the contract scope or
contract price. The accounting for modifications of contracts involves assessing whether the performance obligation added to
an existing contract are distinct and whether the pricing is at the Consolidated selling price. Performance obligation added
that are not distinct are accounted for on a cumulative catch up basis, while those that are distinct are accounted for
prospectively, either as a separate contract, if the additional performance obligation are priced at the Consolidated selling
price, or as a termination of the existing contract and creation of a new contract if not priced at the Consolidated selling price.

The following is a description of principal activities from which the Company generates its revenue:

Sale of traded goods

Revenue from sale of goods is recognised when control of the goods is transferred to the resellers, which generally happens
upon delivery to the resellers. Certain of the Company’s customers are offered volume discounts based on the targets
achieved. In accounting for these volume discounts, the Company records the estimated volume discount as a reduction of
revenue as sales take place throughout the year.

Rendering of services

Income from B2B marketplace services

The Company's B2B marketplace service generates revenue primarily from transaction fee paid by vendors in marketplace.
Revenue related to transaction fees and any related fulfilment fees earned from these arrangements are recognised when
the services are rendered, which generally happens at the time underlying sales has been concluded.

Income from logistics services

Income from logistics services include shipping services. Revenue from shipping services is recognised at a point in time
when the products are delivered to the end customers.

Interest income

Interest income is recognised using the effective interest method. Effective interest is the rate that exactly discounts the
estimated future cash receipts over the expected life of the financial instrument or a shorter period, where appropriate, to the
net carrying amount of the financial asset. Interest income is included in finance income in the Statement of Profit and Loss.
Finance income primarily comprises of interest income on fixed deposits, changes in fair value and gains/(losses) on
disposal of financial instruments classified as FVTPL.

2.15 Finance cost

Finance expenses comprise interest cost on borrowings. Borrowing costs that are directly attributable to a qualifying asset
are capitalized as part of cost of the asset. All other borrowing cost are expensed in the period in which they occur, using the
effective interest method.

2.16 Income Tax

Income tax comprises current and deferred tax. Income tax expense is recognized in the Statement of Profit and Loss except
to the extent it relates to a business combination, or items directly recognized in equity or in OCI.

Current income tax

Current income tax for the current and prior periods are measured at the amount expected to be recovered from or paid to
the taxation authorities based on the taxable income for the period. The tax rates and tax laws used to compute the current
tax amount are those that are enacted or substantively enacted by the reporting date and applicable for the period. The
Company offsets current tax assets and current tax liabilities, where it has a legally enforceable right to set off the recognized
amounts and where it intends either to settle on a net basis, or to realize the asset and liability simultaneously.

Current income tax relating to items recognized outside profit or loss is recognized outside Statement of Profit and Loss
(either in other comprehensive income or equity). Current tax items are recognized in correlation to the underlying
transaction either in OCI or directly in equity. Management periodically evaluates positions taken in the tax returns with
respect to situations in which applicable tax regulations are subject to interpretation, and it establishes provisions where
appropriate.

Deferred tax

Deferred income tax is recognized using the balance sheet approach. Deferred income tax assets and liabilities are

30
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

recognized for deductible and taxable temporary differences arising between the tax base of assets and liabilities and their
carrying amount in financial statements, except when the deferred income tax arises from the initial recognition of goodwill or
an asset or liability in a transaction that is not a business combination and affects neither accounting nor taxable profits or
loss at the time of the transaction. Deferred income tax assets are recognized to the extent it is probable that taxable profit
will be available against which the deductible temporary differences and the carry forward of unused tax credits and unused
tax losses can be utilized.

The carrying amount of deferred income tax assets is reviewed at each reporting date and reduced to the extent that it is no
longer probable that sufficient taxable profit will be available to allow all or part of the deferred income tax asset to be utilized.
Deferred income tax assets and liabilities are measured at the tax rates that are expected to apply in the period when the
asset is realized or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted
at the reporting period.

Deferred tax relating to items recognized outside Statement of Profit and Loss is recognized outside Statement of Profit and
Loss. Deferred tax items are recognized in correlation to the underlying transaction either in other comprehensive income or
directly in equity.

The Company offsets deferred income tax assets and liabilities, where it has a legally enforceable right to offset current tax
assets against current tax liabilities, and they relate to taxes levied by the same taxation authority on either the same taxable
entity, or on different taxable entities where there is an intention to settle the current tax liabilities and assets on a net basis
or their tax assets and liabilities will be realized simultaneously.

2.17 Contingencies

A contingent liability is:

A possible obligation that arises from past events and whose existence will be confirmed only by the occurrence or
non-occurrence of one or more uncertain future events not wholly within the control of the Company; or A present obligation
that arises from past events but is not recognized because:

(i) It is not probable that an outflow of resources embodying economic benefits will be required to settle the obligation; or

(ii) The amount of the obligation cannot be measured with sufficient reliability.

A contingent asset is a possible asset that arises from past events and whose existence will be confirmed only by the
occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the Company.

Contingent liabilities and assets are not recognized on these balance sheet of the Company, except for contingent liabilities
assumed in a business combination that are present obligations arising from past events and which the fair values can be
reliably determined.

2.18 Earnings per share

Basic earnings per share is computed by dividing the profit / (loss) attributable to ordinary equity holders of the Company by
weighted average number of equity shares outstanding during the period adjusted for treasury shares held, if any. Diluted
earnings per share is computed by dividing the profit / (loss) attributable to ordinary equity holders of the Company using the
weighted-average number of equity shares considered for deriving basic earnings per share and weighted average number
of dilutive equivalent shares outstanding during the period, except where the results would be anti-dilutive. Dilutive potential
shares are deemed converted at the beginning of the period, unless issued at later date.

2.19 Fair value measurement

A number of financial instruments are measured at fair value as of each reporting date after initial recognition. Fair value is
the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market
participants at the measurement date. The fair value of an asset or a liability is measured using the assumptions that market
participants would use when pricing the asset or liability, assuming that market participants act in their economic best interest
by using quoted market rates, discounted cash flow analyses and other appropriate valuation models. The Company uses
valuation techniques that are appropriate in the circumstances and for which sufficient data is available to measure fair
value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs. All assets and
liabilities for which fair values are being measured or disclosed in these Consolidated Ind-AS Financial Statements are
categorized within the fair value hierarchy, described as follows:

• Level 1– This level of hierarchy includes financial assets that are measured by reference to quoted prices (unadjusted) in
active markets for identical assets or liabilities.

• Level 2 – This level of hierarchy includes financial assets and liabilities, measured using inputs other than quoted prices
included within Level 1 that are observable for the asset or liability, either directly (i.e., as prices) or indirectly (i.e., derived
from prices); and

• Level 3 – This level of hierarchy includes financial assets and liabilities measured using inputs that are not based on
observable market data (unobservable inputs). Fair values are determined in whole or in part, using a valuation model based
on assumptions that are neither supported by prices from observable current market transactions in the same instrument nor
are they based on available market data.

31
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

2.20 Cash flow statements

Cash flows are reported using the indirect method, whereby profit/(loss) for the period is adjusted for the effects of
transactions of a non-cash nature, any deferrals or accruals of past or future operating cash receipts or payments and item of
income or expenses associated with investing or financing cash flows. The cash flows from operating, investing and
financing activities of the Company are segregated.

As per the amendment to Ind-AS 7, applicable with effect from April 1, 2017, the Company provides disclosures that enable
users of financial statements to evaluate changes in liabilities arising from financing activities, including both changes arising
from cash flows and non-cash changes, suggesting inclusion of a reconciliation between the opening and closing balances in
these balance sheet for liabilities arising from financing activities, to meet the disclosure requirement. The Company has
provided the information for the current year in Note 12 (i).

2.21 Current and non-current classification

The Company prepares assets and liabilities in the statement of financial position based on current and non-current
classification. An asset/liability is classified as current when:

- It is expected to be realized or consumed in the Company’s normal operating cycle.

- It is held primarily for trading.

- It is expected to be realized within twelve months after the reporting period.

- If it is cash or cash equivalent, unless it is restricted from being exchanged or used to settle a liability for at least twelve
months after the reporting period, or

- The Company has no unconditional right to defer the settlement of the liability for at least twelve months after the reporting
period.

Any asset/liability not conforming to the above is classified as non-current.

Deferred tax assets and liabilities are classified as non-current assets and liabilities."

2.22 Investment in equity accounted investees

An associate is an entity over which the Company has significant influence. Significant influence is the power to participate in
the financial and operating policy decisions of the investee, but is not control or joint control over those policies.

A joint venture is a type of joint arrangement whereby the parties that have joint control of the arrangement have rights to the
net assets of the joint venture. Joint control is the contractually agreed sharing of control of an arrangement, which exists
only when decisions about the relevant activities require the unanimous consent of the parties sharing control.

An interest in an associate or joint venture is accounted for using the equity method from the date in which the investee
becomes an associate or a joint venture and are recognized initially at cost. Under the equity method, the investment in an
associate or a joint venture is initially recognized at cost. Subsequently, the carrying amount of the investment is adjusted to
recognize changes in the Company’s share of net assets of the associate or joint venture since the acquisition date. Goodwill
relating to the associate or joint venture is included in the carrying amount of the investment and is neither amortized nor
individually tested for impairment.

The Consolidated Statement of Profit or Loss reflects the Company’s share of the results of operations of the associate or
joint venture. Any change in OCI of those investees is presented as part of the Company’s OCI. In addition, when there has
been a change recognised directly in the equity of the associate, the Company recognises its share of any changes, when
applicable, in the statement of changes in equity. Unrealised gains and losses resulting from transactions between the
Company and the associate are eliminated to the extent of the interest in the associate.

The financial statements of the associate are prepared for the same reporting period as the Company. When necessary,
adjustments are made to bring the accounting policies in line with those of the Company.

After application of the equity method, the Company determines whether it is necessary to recognise an impairment loss on
its investment in its associate. At each reporting date, the Company determines whether there is objective evidence that the
investment in the associate is impaired. If there is such evidence, the Company calculates the amount of impairment as the
difference between the recoverable amount of the associate and its carrying value, and then recognises the loss within
‘Share of loss of equity accounted investees’ in the consolidated statement of profit or loss.

Upon loss of significant influence over the associate or joint control over the joint venture, the Company measures and
recognises any retained investment at its fair value. Any difference between the carrying amount of the associate or joint
venture upon loss of significant influence or joint control and the fair value of the retained investment and proceeds from
disposal is recognised in the consolidated statement of profit or loss."

3.2 Significant accounting estimates and judgements

The preparation of the Company's Consolidated Ind-AS Financial Statements in conformity with Ind-AS requires
management to make judgements, estimates and assumptions that affect the reported amounts of revenues, expenses,

32
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

assets and liabilities, and the accompanying disclosures, and the disclosure of contingent liabilities at the reporting period.
Actual results may differ from those estimates.

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized
in the period in which the estimates are revised if the revision affects only that period or in the period of the revision and
future periods if the revision affects both current and future periods. In particular, information about significant areas of
estimation, uncertainty and critical judgments in applying accounting policies that have the most significant effect on the
amounts recognized in the financial statements are included in the following notes:

(a) Allowance for Inventory obsolescence

Allowance for inventory obsolescence is estimated based on the best available facts and circumstances, including but not
limited to, the inventories’ own physical conditions, their market selling prices, and estimated costs to be incurred for their
sales. The allowances are re-evaluated and adjusted as additional information received affects the amount estimated.

(b) Impairment of intangible assets

The recoverable amounts of the cash generating units which goodwill has been allocated to have been determined based on
value in use calculations. The value in use calculations are based on a discounted cash flow models. The recoverable
amount is most sensitive to the discount rate used for the discounted cash flow model as well as the expected future cash
inflows and the growth rate used for extrapolation purposes.

(c) Impairment of non-financial assets

Impairment exists when the carrying value of an asset or cash generating unit exceeds its recoverable amount, which is the
higher of its fair value less costs to sell and its value in use. The fair value less costs to sell calculation is based on available
data from binding sales transactions in an arm’s length transaction of similar assets or observable market prices less
incremental costs for disposing the asset. The value in use calculation is based on a discounted cash flow model. The cash
flows are derived from the budget for the next ten years and do not include restructuring activities that the Company is not
yet committed to or significant future investments that will enhance the asset’s performance of the cash generating unit being
tested. The recoverable amount is most sensitive to the discount rate used for the discounted cash flow model as well as the
expected future cash inflows and the growth rate used for extrapolation purposes.

(d) Employees benefits plan

The cost of defined benefit pensions and other postretirement plans as well as the present value of the pension obligation
are determined using actuarial valuations. The actuarial valuation involves making various assumptions. These include the
determination of the discount rates, expected rates of return of assets, future salary increase, mortality rates and future
pension increases. Due to the complexity of the valuation, the underlying assumptions, defined benefit obligations are highly
sensitive to changes in these assumptions.

(e) Income Taxes

The Company has exposure to income taxes in Indian jurisdiction. Deferred tax assets are recognized for all unused tax
losses to the extent that it is probable that taxable profit will be available against which the losses can be utilized. Significant
managements judgment is required to determine the amount of deferred tax assets that can be recognized, based upon the
likely timing and level of future taxable profits together with future tax planning strategies.

Considering the cumulative tax positions and considering the loss for the year, the Company has not recognized deferred tax
assets on the losses.

(f) Business combinations

In our accounting for business combinations, judgment is required in determining whether an intangible asset is identifiable,
and should be recorded separately from goodwill. Additionally, estimating the acquisition date fair values of the identifiable
assets acquired and liabilities assumed involves considerable management judgment. These measurements are based on
information available at the acquisition date and are based on expectations and assumptions that have been deemed
reasonable by management. Changes in these judgments, estimates, and assumptions can materially affect the results of
operations.

(g) Expected credit losses on financial assets

On application of Ind-AS 109, the impairment provisions of financial assets are based on assumptions about risk of default
and expected timing of collection. The Company uses judgment in making these assumptions and selecting the inputs to the
impairment calculation, based on the Company's past history, customer’s credit-worthiness, existing market conditions as
well as forward looking estimates at the end of each reporting period.

(h) Revenue from contracts with customers

The Company estimates commission reversal on the returns of products sold by the sellers on the platform on the basis of
historical trends of returns from the customers for each product category. Estimates of returns are revised when the
Company believes that changes in the policies for returns or external factors will significantly affect the amounts recorded for
return assets and refund liabilities.

33
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

(i) Other estimates

The preparation of Consolidated Ind-AS Financial Statements involves estimates and assumptions that affect the reported
amount of assets, liabilities, disclosure of contingent liabilities at the date of Consolidated Ind-AS Financial Statements and
the reported amount of revenues and expenses for the reporting period. Specifically, the Company estimates the
un-collectability of accounts receivable by analysing historical payment patterns, customer concentrations, customer
credit-worthiness and current economic trends. If the financial condition of a customer deteriorates, additional allowances
may be required.

3.3 New and amended standards and interpretations

(i) Amendments to Ind AS 1 and Ind AS 8: Definition of Material

"The amendments provide a new definition of material that states, “information is material if omitting, misstating or obscuring
it could reasonably be expected to influence decisions that the primary users of general purpose financial statements make
on the basis of those financial statements, which provide financial information about a specific reporting entity.” The
amendments clarify that materiality will depend on the nature or magnitude of information, either individually or in
combination with other information, in the context of the financial statements. A misstatement of information is material if it
could reasonably be expected to influence decisions made by the primary users. These amendments had no impact on the
Consolidated Ind-AS Financial Statements of, nor is there expected to be any future impact to the Company.

These amendments are applicable prospectively for annual periods beginning on or after the 1 April 2020. The amendments
to the definition of material are not expected to have a significant impact on the Company Consolidated Ind-AS Financial
Statements nor is there expected to be any future impact to the Company."

ii) Amendments to Ind AS 103 Business Combinations

"The amendment to Ind AS 103 Business Combinations clarifies that to be considered a business, an integrated set of
activities and assets must include, at a minimum, an input and a substantive process that, together, significantly contribute to
the ability to create output. Furthermore, it clarifies that a business can exist without including all of the inputs and processes
needed to create outputs.

These amendments are applicable to business combinations for which the acquisition date is on or after the beginning of the
first annual reporting period beginning on or after the 1 April 2020 and to asset acquisitions that occur on or after the
beginning of that period. This amendment had no impact on the Financial Statements of the Company.

[610200] Notes - Corporate information and statement of IndAs compliance

Unless otherwise specified, all monetary values are in Millions of INR
01/04/2020 01/04/2019
to to
31/03/2021 31/03/2020
Disclosure of corporate information notes and other explanatory information
[TextBlock]
Refer Note 2.1 Refer Note 2.1
Basis of preparation, Basis of preparation,
Statement of Ind AS compliance [TextBlock] measurement and measurement and
consolidation consolidation
Whether there is any departure from Ind AS No No
Whether there are reclassifications to comparative amounts No No
Textual information (4)
Disclosure of significant accounting policies [TextBlock] [See below]

34
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Textual information (4)

Disclosure of significant accounting policies [Text Block]

1. Corporate information

Flipkart India Private Limited (herein after referred to as "the Company") was incorporated on September 19, 2011 as a
private limited company under the Companies Act, 1956. The registered office of the Company is located at Buildings
Alyssa, Begonia & Clover, Embassy Tech Village, Outer Ring Road, Devarabeesanahalli Village, Bengaluru – 560103,
Karnataka, India w.e.f. April 1, 2019. The holding company is Flipkart Private Limited, Singapore (formerly Flipkart Limited,
Singapore) and the ultimate holding company is Walmart Inc., U.S.A.. The Company is engaged in B2B distribution of
mobile, television, laptop, tablet, mobile accessory, footwear, clothing, grocery etc. During the year ended March 31, 2021,
the Company has forayed into omnichannel business through its B2B marketplace.

The Consolidated Ind-AS Financial Statements were authorised for issue in accordance with a resolution by the Company’s
Board of Directors on July 26, 2021

1b. The associate(s) included in the Consolidated Ind AS Financial Statements are as under:

Country of Proportion of ownership as at Date of acquisition/

Name of the company Relationship
Incorporation March 31, 2021 Incorporation

Arvind Youth Brands

India Associate 23.75% July, 2020
Private Limited

2. Summary of Significant Accounting Policies

2.1 Basis of preparation, measurement and consolidation

The Consolidated Ind-AS Financial Statements have been prepared in accordance with Indian Accounting Standards
(Ind-AS) under the historical cost convention on the accrual basis, except for certain financial assets and liabilities measured
at fair value (refer accounting policy regarding financial instruments) and the provisions of the Companies Act, 2013 (""Act"")
(to the extent notified). The Ind-AS are prescribed under Section 133 of the Act read with Rule 3 of the Companies (Indian
Accounting Standards) Rules, 2015, as amended from time to time.

The Consolidated Ind AS Financial Statements comprise of the Standalone Ind AS Financial Statements of the company and
its Associate (collectively, the Company)

The Consolidated Ind-AS Financial Statements are presented in Indian Rupees (INR or Rs.) and all values in the tables are
reported in millions of Indian rupees (Rupees in millions ('Mn')) upto two decimal place except share data, unless otherwise
stated. Certain notes and disclosures in the Consolidated Ind-AS Financial Statements has been represented as Zero (""0""),
where the absolute amount is below the rounding off norms adopted by the Company.

Accounting policies have been consistently applied except where a newly issued accounting standard is initially adopted or a
revision to an existing accounting standard requires a change in the accounting policy hitherto in use.

The Company controls an entity when it is exposed to, or has rights to, variable returns from its involvement with the entity
and has the ability to affect those returns through its power over the entity. The Company reassess whether or not it controls
an investee if facts and circumstances indicate that there are changes to one or more of the three elements listed above. In
assessing control, potential voting rights that currently are exercisable are taken into account. The Consolidated Ind AS
financial statements of subsidiary is included in the Consolidated Ind-AS Financial Statements from the date on which control
commences until the date on which control ceases.

Non-controlling interest is the equity in a subsidiary not attributed to the Company and is presented separately from the
Company’s equity.

Profit or loss and each component of other comprehensive income are attributed to the equity holders of the Parent and to
the non-controlling interests, even if this results in the non-controlling interests having a deficit balance. All intra-Company
balances, transactions, income and expenses are eliminated in full on consolidation.

The Company uses the direct method of consolidation and on disposal of a foreign operation, the gain or loss that is
reclassified to profit or loss reflects the amount that arises from using this method."

Changes in the Company’s interests in subsidiaries that do not result in a loss of control are accounted for as equity
transactions, that is, as transactions with the owners in their capacity as owners. The carrying amount of the Company’s

35
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

interests and the non-controlling interests are adjusted to reflect the changes in their relative interests in the subsidiaries.
Any difference between the amount by which the non-controlling interests are adjusted and the fair value of the consideration
paid or received is recognized directly in equity and attributed to equity holders of the Parent.

When the Company ceases to have control (subsidiaries), exercise significant influence (associates) or exert joint control
(joint ventures), any retained interest is remeasured to its fair value, with the change in the carrying value recognized in the
statement of profit or loss. In addition, any amounts previously recognized in OCI in respect of de-consolidated entities are
accounted for as if Company had directly disposed off related assets or liabilities.

2.2 Business Combination

Business combinations are accounted for by applying the acquisition method as at the date of acquisition, which is the date
on which control is transferred to the Company. Identifiable assets acquired and liabilities assumed in a business
combination are measured initially at their fair values at the acquisition date. When the Company acquires a business, it
assess the financial assets and liabilities assumed for appropriate classification and designation in accordance with
contractual terms, economic circumstances and pertinent conditions as at acquisition date. The excess of the cost of
acquisition over the interest in the fair value of the identifiable net assets acquired and attributable to the owners of the
Company is recorded as goodwill. The cost of an acquisition is measured as the aggregate of the consideration transferred,
which is measured at the acquisition date fair value and the amount of a non-controlling interest in the acquire. Transaction
costs incurred in connection with a business acquisition are expensed as and when incurred. If the fair value of the net
assets acquired is in excess of the aggregate consideration transferred, then the gain is recognized in Other Comprehensive
Income (OCI) and accumulated in equity as capital reserve.

Any contingent consideration payable is measured at fair value at the acquisition date. Subsequent changes in the fair value
of contingent consideration are recognized in Statement of Profit and Loss. Contingent consideration that is classified as
equity is not remeasured and subsequent settlement is accounted for within equity.

Business combinations involving entities or businesses under common control shall be accounted for using the pooling of
interest method."

2.3 Functional and Foreign currency

Functional and presentation currency

Management has determined the currency of the primary economic environment in which the entity resides in and operates
as the functional currency. The functional currency of the Company is Indian Rupees (INR). The Consolidated Ind-AS
Financial Statements have been presented in INR, as it best represents the operating business performance and underlying
transactions.

Transactions and balances

Transactions in foreign currencies are measured in the functional currency of the Company and are recorded on initial
recognition in the functional currency at exchange rates prevailing at the transaction dates. Monetary assets and liabilities
denominated in foreign currencies are translated at the rate of exchange ruling at the end of the reporting period.

Differences arising on settlement or translation of monetary items are recognized in the Statement of Profit and Loss.

Non-monetary items that are measured in historical cost in a foreign currency are translated using the exchange rates as at
the dates of the initial transactions. Non-monetary items measured at fair value in a foreign currency are translated using the
exchange rates at the date when the fair value was determined. The gain or loss arising on translation of non-monetary items
measured at fair value is treated in line with the recognition of the gain or loss on the change in fair value of the item (i.e.,
translation differences on items whose fair value gain or loss is recognized in Other Comprehensive Income (OCI) or
Statement of Profit and Loss are also recognized in OCI or Statement of Profit and Loss, respectively).

2.4 Property, plant and equipment

(a) Recognition and measurement

All items of property, plant and equipment are initially measured at cost and subsequently it is measured at cost less
accumulated depreciation and impairment losses, if any. Costs include expenditures directly attributable to acquisition of
assets. The cost of an item of property, plant and equipment is recognized as an asset, if and only if, it is probable that future
economic benefits associated with the item will flow to the Company and the cost of the item can be measured reliably.
When significant parts of property, plant and equipment are required to be replaced in intervals, the Company recognizes
such parts as individual assets with specific useful lives and depreciation, respectively. Any subsequent cost incurred is
recognized in the carrying amount of the property, plant and equipment as a replacement if the recognition criteria are
satisfied. All other repair and maintenance costs are recognized in Statement of Profit and Loss as incurred.

(b) Depreciation

The Company depreciates property, plant and equipment over the estimated useful life on a straight-line basis from the date
the assets are available for use. Leasehold improvements are amortized over the estimated useful life or the lease period,
whichever is lower.

Depreciation is not recorded on capital work-in-progress until construction and installation are complete and the asset is

36
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

ready for its intended use.

The residual value, estimated useful life and method of depreciation of property, plant and equipment are reviewed at each
financial year and adjusted prospectively, if appropriate. The estimated useful lives of assets are as follows:

Category of assets Estimated useful life

Computers 3 years

Furniture and fixtures 5 years

Office equipment 5 years

Electrical installations and equipment 5 years

The Company, based on technical assessment made by technical expert and management estimate, depreciates the certain
items of plant and equipment over estimated useful lives which are different from the useful life prescribed in Schedule II to
the Act. The management believes that these estimated useful lives are realistic and reflect fair approximation of the period
over which the assets are likely to be used.

The carrying values of property, plant and equipment are reviewed for impairment when events or changes in circumstances
indicate that the carrying value may not be recoverable.

An item of plant and equipment is derecognized upon disposal or when no future economic benefits are expected from its
use or disposal. Any gain or loss on de-recognition of the asset is included in the Statement of Profit and Loss in the year the
asset is derecognized.

Advances paid towards the acquisition of property, plant and equipment outstanding at each Balance Sheet date is classified
as capital advances under other non-current assets and the cost of assets not ready to use before such date are disclosed
under ‘Capital work-in-progress’. Subsequent expenditures relating to property, plant and equipment is capitalized only when
it is probable that future economic benefits associated with these will flow to the Company and the cost of the item can be
measured reliably. Repairs and maintenance costs are recognized in the Statement of Profit and Loss when incurred. The
cost and related accumulated depreciation are eliminated from the financial statements upon sale or retirement of the asset
and the resultant gains or losses are recognized in the Statement of Profit and Loss.

2.5 Goodwill and Intangible assets

Goodwill

Goodwill represents the excess of the purchase price over the fair value of the identifiable assets and liabilities acquired in a
business combination. If the excess is negative, a bargain purchase gain is recognized immediately in OCI and accumulated
in equity as capital reserve.

Goodwill is tested for impairment at least annually and when events occur or changes in circumstances indicate that the
recoverable amount of the cash generating unit is less than its carrying value. The goodwill impairment test is performed at
the level of cash-generating unit or Company's of cash-generating units which represent the lowest level at which goodwill is
monitored for internal management purposes.

Where the recoverable amount of the cash-generating unit is less than the carrying amount, an impairment loss is
recognized in Statement of Profit and Loss. Impairment losses recognized for goodwill are not reversed in subsequent
periods.

Intangible assets

Intangible assets acquired separately are measured on initial recognition at cost. Intangible assets acquired in business
combination are measured at fair value as at the date of acquisition. Following initial recognition, intangible assets are
carried at cost less any accumulated amortization and impairment losses, if any. Internally generated intangible assets,
excluding capitalized development costs, are not capitalized and expenditure is recognized in the Statement of Profit and
Loss when it is incurred.

Subsequent expenditures are capitalized only when they increase the future economic benefits embodied in the specific
asset to which they relate.

Intangible assets with indefinite useful lives or not yet available are not amortized, but instead tested for impairment annually.
Intangible assets with finite lives are amortized over the estimated useful life. The amortization period and the amortization
method for an intangible asset with a finite useful life are reviewed at least at the end of each reporting period. The
amortization expense on intangible assets with finite lives is recognized in the Statement of Profit and Loss in the expense
category consistent with the nature of the intangible assets.

Gains or losses arising from de-recognition of an intangible asset are measured as the difference between the net disposal
proceeds and the carrying amount of the asset and are recognized in the Statement of Profit and Loss when the asset is
derecognized.

The useful lives of the intangible assets assessed by the management are as follows and these amortized on a straight line

37
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

basis over the period of the assets:

Category of assets Estimated useful life

Computer software 1- 3 years

2.6 Inventories

Inventories are stated at the lower of cost or net realizable value. Costs include purchase costs and other costs incurred in
bringing the inventories to their present location and condition. Inventories are primarily accounted for using first-in first-out
basis.

Net realizable value is the estimated selling price in the ordinary course of business, less estimated costs necessary to make
the sale.

Where necessary, allowance is provided for damaged, obsolete and slow moving items to adjust the carrying value of
inventories to the lower of cost and net realizable value."

2.7 Financial Instruments

A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity
instrument of another entity. Financial instruments in the form of financial assets and financial liabilities are generally
presented separately. Financial instruments are recognized on these balance sheet when the Company becomes a party to
the contractual provisions of the instrument.

Upon initial recognition, financial instruments are measured at fair value. Transaction costs directly attributable to the
acquisition or issue of financial instruments are recognized in determining the carrying amount, if it is not classified as at fair
value through profit or loss. Subsequently, financial instruments are measured according to the category in which they are
classified.

Financial assets are classified into following categories:

- Financial assets carried at amortized cost

- Financial assets fair valued through other comprehensive income (FVTOCI)

- Financial assets at fair value through profit or loss (FVTPL)"

Financial liabilities are classified into financial liabilities at fair value through profit or loss and other financial liabilities.

Transaction costs are apportioned between the liability, derivative and equity components of the convertible preference
shares based on the allocation of proceeds to the liability, derivative and equity components when the instruments are
initially recognised. Equity component are accounted for as a deduction from equity net of tax benefit, financial liabilities
measured at amortised cost are included in the calculation of the amortised cost using effective interest method and financial
liabilities measured at FVTPL are recognised in the statement of profit or loss as they are incurred.

Financial assets

Financial assets primarily comprise of trade receivables, loan and receivables, cash and bank balances and marketable
securities and investments.

Subsequent measurement

The subsequent measurement of financial assets depends on their classification as follows:

Financial assets carried at amortized cost

"A financial asset is subsequently measured at amortized cost if it meets both the following criteria:

(i) the asset is held within a business model whose objective is to hold the asset to collect contractual cash flows, and

(ii) the contractual terms of the financial assets give rise on a specified date to cash flows that are solely payments of
principal and interest on the principal outstanding."

Financial assets at fair value through other comprehensive income (FVTOCI):

A financial asset is subsequently measured at fair value through other comprehensive income if it meets both the following
criteria:

"(i) the asset is held within a business model whose objective is achieved by both collecting contractual cash flows and
selling financial assets, and

(ii) the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal
and interest on the principal amount outstanding. "

38
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Further, in cases where the Company has made an irrevocable election based on its business model, for its investments
which are classified as equity instruments, the subsequent changes in fair value are recognized in other comprehensive
income. For Financial assets at FVTOCI, all fair value changes in the instruments excluding dividends, are recognized in OCI
and is never recycled to Statement of Profit and Loss, even on sale of the instrument. Interest income earned on FVTOCI
instruments are recognized in Statement of Profit and Loss.

Financial assets at fair value through profit or loss (FVTPL) :

A financial asset which does not meet the amortized cost or FVTOCI criteria is measured as FVTPL. Financial assets at
FVTPL are measured at fair value at the end of each reporting period, with any gains or losses on re-measurement
recognized in Statement of Profit and Loss. The gain or loss on disposal is recognized in Consolidated Statement of Profit
and Loss. Interest income earned on FVTPL instruments are recognized in Statement of Profit and Loss.

Financial liabilities:

Financial liabilities primarily include trade payables, borrowings, derivative financial liabilities and other liabilities.

Financial liabilities measured at amortized cost

After initial recognition, financial liabilities are subsequently measured at amortized cost using the effective interest method,
except for contingent considerations recognized in a business combination which is subsequently measured at FVTPL. For
trade and other payables, the carrying amounts approximate fair value due to the short term maturity of these instruments.

Compound financial instruments

Compound financial instruments have both a financial liability and an equity component from the issuer’s perspective. The
components are defined based on the terms of the financial instrument and presented and measured separately according to
their substance. At initial recognition of a compound financial instrument, the financial liability component is recognized at fair
value and the residual amount is allocated to equity.

Derivative financial instruments

"All derivatives are recognized initially at fair value on the date a derivative contract is entered into and subsequently
re-measured at fair value. Embedded derivatives are separated from the host contract and accounted for separately if they
are not closely related to the host contract. The Company measures all derivative financial instruments based on fair values
derived from market prices of the instruments or from option pricing models, as appropriate. Changes in the fair value of any
derivative instruments that do not qualify for hedge accounting are recognized immediately in the Statement of Profit and
Loss, except for derivatives that are highly effective and qualify for cash flow or net investment hedge accounting.

The Company uses foreign exchange forward contracts to manage some of its transaction exposures. The foreign exchange
forward contracts are not designated as cash flow hedges and are entered into for periods consistent with foreign currency
exposure of the underlying transactions."

Financial Guarantee

"A financial guarantee contract is a contract that requires the Company to make specified payments to reimburse the holder
for a loss it incurs because a specified debtor fails to make payment when due in accordance with the terms of a debt
instrument.

Financial guarantee contracts are recognized initially as a liability at fair value, adjusted for transaction costs that are directly
attributable to the issuance of the guarantee. Subsequently it is measured at the higher of:

(i) the amount of the loss allowance determined in accordance Expected Credit Loss model, and

(ii) the amount initially recognized less, when appropriate, the cumulative amount of income recognized in accordance with
the principles of Ind-AS 18."

De-recognition of financial assets and liabilities

"The Company derecognizes a financial asset only when the contractual rights to the cash flows from the asset expires or it
transfers the financial asset and substantially all the risks and rewards of ownership of the asset to another entity. If the
Company neither transfers nor retains substantially all the risks and rewards of ownership and continues to control the
transferred asset, the Company recognizes its retained interest in the asset and an associated liability for amounts it may
have to pay. If the Company retains substantially all the risks and rewards of ownership of a transferred financial asset, the
Company continues to recognize the financial asset and also recognizes a collateralized borrowing for the proceeds
received.

On de-recognition of a financial asset measured at amortized cost, the difference between the asset's carrying amount and
the sum of the consideration received and receivable is recognized in the Statement of Profit and Loss. In addition, on
de-recognition of an investment in a debt instrument classified as at FVTOCI, the cumulative gain or loss previously
accumulated in the investments revaluation reserve is reclassified to Statement of Profit and Loss. In contrast, on
de-recognition of an investment in equity instrument which the Company has elected on initial recognition to measure at
FVTOCI, the cumulative gain or loss previously accumulated in the investments revaluation reserve is not reclassified to
Statement of Profit and Loss, but is transferred to retained earnings.

39
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

The Company derecognizes financial liabilities when, and only when, the Company's obligations are discharged, cancelled or
they expire. The difference between the carrying amount of the financial liability derecognized and the consideration paid and
payable, including any non-cash assets transferred or liabilities assumed, is recognized in the Statement of Profit and Loss.

Offsetting of financial instruments

Financial assets and financial liabilities are offset with the net amount reported in these balance sheet only if there is a
current enforceable legal right to offset the recognized amounts and an intent to settle on a net basis, or to realize the assets
and settle the liabilities simultaneously.

2.8 Impairment

Financial assets

Ind-AS 109 requires the Company to record expected credit losses on all of its debt securities, loans and receivables, either
on a 12-month or life time expected credit losses. The Company recognizes loss allowances using the Expected Credit Loss
(ECL) model for the financial assets which are not fair valued through profit or loss. Loss allowance for trade receivable with
no significant financing component is measured at an amount equal to life time ECL. For all other financial assets, ECL are
measured at an amount equal to 12-month ECL, unless there is a significant increase in the credit risk from initial recognition
in which case those are measured at lifetime ECL. The amount of expected credit losses (or reversal) that is required to
adjust the loss allowance at the reporting date to the amount that is required to be recognized is recognized as an
impairment gain or loss in Statement of Profit and Loss.

Non - financial assets

"The Company assesses whether there are any indicators of impairment for all non-financial assets at each reporting date.
Goodwill and intangible assets with indefinite economic lives are tested for impairment annually and at other times when
such indicators exist.

An asset's recoverable amount is the higher of an asset's or cash-generating unit's fair value less costs to sell and its value
in use and is determined for an individual asset, unless the asset does not generate cash inflows that are largely
independent of those from other assets or Company's of assets. Where the carrying amount of an asset or cash-generating
unit exceeds its recoverable amount, the asset is considered impaired and is written down to its recoverable amount. In
assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate
that reflects current market assessments of the time value of money and the risks specific to the asset. In determining fair
value less costs to sell, recent market transactions are taken into account, if available. If no such transactions can be
identified, an appropriate valuation model is used. These calculations are corroborated by valuation multiples or other
available fair value indicators.

Other non-financial assets are tested for impairment when there are indicators that the carrying amounts may not be
recoverable."

2.9 Cash and cash equivalents

Cash and cash equivalents comprise cash at banks and on hand, demand deposits, and short-term, highly liquid investments
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 cash equivalent, as defined
above, net of outstanding bank overdrafts as they are considered an integral part of the Company’s cash management.

2.10 Restricted Cash

Cash that is restricted as to withdrawal for use or pledged as security is reported separately under other assets, and is not
included in the total cash and cash equivalents in the statements of cash flows and cash and cash equivalents in these
balance sheet. The Company’s restricted cash mainly represents (a) the secured deposits held in designated bank accounts
for which Bank Guarantee have been issued/utilized; (b) time deposits that are pledged for outstanding short-term loan and
borrowings.

2.11 Provisions

Provisions are recognized when the Company has a present obligation (legal or constructive) as a result of a past event, it is
probable that an outflow of resources embodying economic benefits will be required to settle the obligation and the amount
of the obligation can be estimated reliably.

The amount recognized as a provision is the best estimate of the consideration required to settle the present obligation at the
end of the reporting period, taking into account the risks and uncertainties surrounding the obligation. The expense relating
to a provision is presented in the Statement of Profit and Loss net of any reimbursement.

If the effect of the time value of money is material, provisions are discounted using a current pre-tax rate that reflects, when
appropriate, the risks specific to the liability. When discounting is used, the increase in the provision due to the passage of
time is recognized as a finance cost. The amount recognized as a provision is the best estimate of the consideration required
to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding
the obligation.

40
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, the
receivable is recognized as an asset, if it is virtually certain that reimbursement will be received and the amount of the
receivable can be measured reliably.

2.12 Employee benefits

Defined benefit plan

In accordance with applicable laws in India, the Company provides for gratuity, a defined benefit retirement plan (“the
Gratuity Plan”) for every employee who has completed 5 years or more of service on departure at 15 days salary (last drawn
salary). The Gratuity Plan provides for a lump sum payment to eligible employees at retirement, death, incapacitation or
termination of employment based on last drawn salary and tenure of employment with the Company. Liabilities with regard to
the Gratuity Plan are determined by actuarial valuation on the reporting date using projected unit credit method. The gratuity
scheme is not funded.

The cost of providing benefits under the defined benefit plan is determined using the projected unit credit method.
Re-measurements, comprising of actuarial gains and losses, the effect of the asset ceiling, excluding net interest and the
return on plan assets (excluding net interest), are recognised immediately in these balance sheet with a corresponding debit
or credit to retained earnings through other comprehensive income in the period in which they occur. Re-measurements are
not reclassified to Statement of Profit and Loss in subsequent periods.

Past service costs are recognised in Statement of Profit and Loss on the earlier of:

- The date of the plan amendment or curtailment, and

- The date that the Company recognizes restructuring-related costs

Net interest is calculated by applying the discount rate to the net defined benefit liability or asset. The Company recognises
the following changes in the net defined benefit obligation under employee benefit expenses’ in Statement of Profit and Loss.

Service costs comprising current service costs, past-service costs, gains and losses on curtailments and non-routine
settlements.

All actuarial gains and losses are immediately recognized in other comprehensive income, net of taxes, if any, and
permanently excluded from Statement of Profit and Loss.

Defined contribution plan

The Company makes contributions to the Provident Fund scheme, a defined contribution benefit scheme. These
contributions are deposited with Government administered fund and recognized as an expense in the period in which the
related service is performed. There is no further obligation on the Company on this defined contribution plan.

Compensated Absences

Employee entitlements to annual leave are recognised as a liability when they accrue to the employees. The estimated
liability for leave is recognised for services rendered by employees up to the end of the reporting period.

Accumulated leave, which is expected to be utilized within the next 12 months, is treated as short-term employee benefit.
The Company measures the expected cost of such absences as the additional amount that it expects to pay as a result of
the unused entitlement that has accumulated at the reporting date.

The Company treats accumulated leave expected to be carried forward beyond twelve months, as long-term employee
benefit for measurement purposes. Such long-term compensated absences are provided for based on the actuarial valuation
using the projected unit credit method at the year-end. Actuarial gains/losses are immediately taken to the Statement of
Profit and Loss and are not deferred. The Company presents the entire leave as a current liability in these balance sheet,
since it does not have an unconditional right to defer its settlement for 12 months after the reporting date.

Share based payments

Flipkart Private Limited (Holding Company) operates ESOP for its Company entities which has equity settled and cash
settled components. The Company recognises the cost and corresponding liability based on the advice received from
Flipkart Private Limited.

Equity settled transactions

The cost of equity settled share-based payment transactions with employees is measured by reference to the fair value of
the options using option pricing model at the date on which the options are granted which takes into account market
conditions and non-vesting conditions

Cash settled transactions

" The cost of cash settled share-based payment transactions is measured initially and at each reporting date up to and
including the settlement date, with changes in fair value recognised in employee benefits expense.

41
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

The fair value is expensed over the period until the vesting date with recognition of corresponding liability to pay Holding
Company."

2.13 Leases

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

Company as a lessee

The Company applies a single recognition and measurement approach for all leases, except for short-term leases and
leases of low-value assets. The Company recognises lease liabilities to make lease payments and right-of-use assets
representing the right to use the underlying assets.

i) Right-of-use assets

The Company recognises right-of-use assets at the commencement date of the lease (i.e., the date the underlying asset is
available for use). Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and
adjusted for any remeasurement of lease liabilities. The cost of right-of-use assets includes the amount of lease liabilities
recognised, initial direct costs incurred, and an estimate of costs to dismantle and remove the underlying asset or to restore
the underlying asset or the site on which it is located, and lease payments made at or before the commencement date less
any lease incentives received.

Right-of-use assets are depreciated on a straight-line basis over the shorter of the lease term and the estimated useful lives
of the assets.

If ownership of the leased asset transfers to the Company at the end of the lease term or the cost reflects the exercise of a
purchase option, depreciation is calculated using the estimated useful life of the asset. The right-of-use assets are also
subject to impairment.

ii) Lease liabilities

At the commencement date of the lease, the Company recognises lease liabilities measured at the present value of lease
payments to be made over the lease term. The lease payments include fixed payments (including in substance fixed
payments) less any lease incentives receivable, variable lease payments that depend on an index or a rate, and amounts
expected to be paid under residual value guarantees. The lease payments also include the exercise price of a purchase
option reasonably certain to be exercised by the Company and payments of penalties for terminating the lease, if the lease
term reflects the Company exercising the option to terminate.

In calculating the present value of lease payments, the Company uses its incremental borrowing rate at the lease
commencement date because the interest rate implicit in the lease is not readily determinable. After the commencement
date, the amount of lease liabilities is increased to reflect the accretion of interest and reduced for the lease payments made.
In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the lease term, a
change in the lease payments (e.g., changes to future payments resulting from a change in an index or rate used to
determine such lease payments) or a change in the assessment of an option to purchase the underlying asset.

iii) Short-term leases and leases of low-value assets

The Company has elected not to recognise right-of-use assets and liabilities for short-term leases that have a lease term of
12 months or less and leases of low-value assets where the value of an underlying asset does not individually exceed INR 3
million. The Company recognises the lease payments associated with these leases as an expense on a straight-line basis
over the lease term."

2.14 Revenue from contracts with customers

"Revenue is recognised upon transfer of control of promised products or services to customers in an amount that reflects the
consideration the Company expect to receive in exchange for those products or services.

Revenue is measured based on the amount of consideration that the Company expect to receive, reduced by estimates for
return allowances and rebates. Revenue also excludes any amounts collected on behalf of third parties, including sales and
goods and services tax. "

The Company accounts for volume discounts and pricing incentives to customers as a reduction of revenue. The Company
provide incentives to customers in the form of discounts on items sold.

The Company may provide refunds/credits to customers on sales return. Refunds/credits are accounted for as variable
consideration at contract inception when estimating the amount of revenue to be recognised when a performance obligation
is satisfied to the extent that it is probable that a significant reversal of revenue will not occur and updated as additional
information becomes available.

Refunds/credits are recorded as reduction of revenue. The Company estimate our refund liabilities using historical refund
experience. The Company assess the trends that could affect our estimates on an ongoing basis and adjust the refund
liability calculations if it appears that changes in circumstances, including changes to our refund policies or general economic
conditions, may cause future refunds to differ from our initial estimates.

42
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Right of return asset represents the Company’s right to recover the goods expected to be returned by customers. The asset
is measured at the former carrying amount of the inventory, less any expected costs to recover the goods, including any
potential decreases in the value of the returned goods. The Company updates the measurement of the asset recorded for
any revisions to its expected level of returns, as well as any additional decreases in the value of the returned products.

Revenues in excess of invoicing, which are dependent upon both performance and passage of time, are classified as
contract assets (which the Company refer as unbilled revenue) while invoicing in excess of revenues are classified as
contract liabilities (which the Company refer to as unearned revenues).

Contract modifications are accounted for when additions, deletions or changes are approved either to the contract scope or
contract price. The accounting for modifications of contracts involves assessing whether the performance obligation added to
an existing contract are distinct and whether the pricing is at the Consolidated selling price. Performance obligation added
that are not distinct are accounted for on a cumulative catch up basis, while those that are distinct are accounted for
prospectively, either as a separate contract, if the additional performance obligation are priced at the Consolidated selling
price, or as a termination of the existing contract and creation of a new contract if not priced at the Consolidated selling price.

The following is a description of principal activities from which the Company generates its revenue:

Sale of traded goods

Revenue from sale of goods is recognised when control of the goods is transferred to the resellers, which generally happens
upon delivery to the resellers. Certain of the Company’s customers are offered volume discounts based on the targets
achieved. In accounting for these volume discounts, the Company records the estimated volume discount as a reduction of
revenue as sales take place throughout the year.

Rendering of services

Income from B2B marketplace services

The Company's B2B marketplace service generates revenue primarily from transaction fee paid by vendors in marketplace.
Revenue related to transaction fees and any related fulfilment fees earned from these arrangements are recognised when
the services are rendered, which generally happens at the time underlying sales has been concluded.

Income from logistics services

Income from logistics services include shipping services. Revenue from shipping services is recognised at a point in time
when the products are delivered to the end customers.

Interest income

Interest income is recognised using the effective interest method. Effective interest is the rate that exactly discounts the
estimated future cash receipts over the expected life of the financial instrument or a shorter period, where appropriate, to the
net carrying amount of the financial asset. Interest income is included in finance income in the Statement of Profit and Loss.
Finance income primarily comprises of interest income on fixed deposits, changes in fair value and gains/(losses) on
disposal of financial instruments classified as FVTPL.

2.15 Finance cost

Finance expenses comprise interest cost on borrowings. Borrowing costs that are directly attributable to a qualifying asset
are capitalized as part of cost of the asset. All other borrowing cost are expensed in the period in which they occur, using the
effective interest method.

2.16 Income Tax

Income tax comprises current and deferred tax. Income tax expense is recognized in the Statement of Profit and Loss except
to the extent it relates to a business combination, or items directly recognized in equity or in OCI.

Current income tax

Current income tax for the current and prior periods are measured at the amount expected to be recovered from or paid to
the taxation authorities based on the taxable income for the period. The tax rates and tax laws used to compute the current
tax amount are those that are enacted or substantively enacted by the reporting date and applicable for the period. The
Company offsets current tax assets and current tax liabilities, where it has a legally enforceable right to set off the recognized
amounts and where it intends either to settle on a net basis, or to realize the asset and liability simultaneously.

Current income tax relating to items recognized outside profit or loss is recognized outside Statement of Profit and Loss
(either in other comprehensive income or equity). Current tax items are recognized in correlation to the underlying
transaction either in OCI or directly in equity. Management periodically evaluates positions taken in the tax returns with
respect to situations in which applicable tax regulations are subject to interpretation, and it establishes provisions where
appropriate.

Deferred tax

Deferred income tax is recognized using the balance sheet approach. Deferred income tax assets and liabilities are

43
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

recognized for deductible and taxable temporary differences arising between the tax base of assets and liabilities and their
carrying amount in financial statements, except when the deferred income tax arises from the initial recognition of goodwill or
an asset or liability in a transaction that is not a business combination and affects neither accounting nor taxable profits or
loss at the time of the transaction. Deferred income tax assets are recognized to the extent it is probable that taxable profit
will be available against which the deductible temporary differences and the carry forward of unused tax credits and unused
tax losses can be utilized.

The carrying amount of deferred income tax assets is reviewed at each reporting date and reduced to the extent that it is no
longer probable that sufficient taxable profit will be available to allow all or part of the deferred income tax asset to be utilized.
Deferred income tax assets and liabilities are measured at the tax rates that are expected to apply in the period when the
asset is realized or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted
at the reporting period.

Deferred tax relating to items recognized outside Statement of Profit and Loss is recognized outside Statement of Profit and
Loss. Deferred tax items are recognized in correlation to the underlying transaction either in other comprehensive income or
directly in equity.

The Company offsets deferred income tax assets and liabilities, where it has a legally enforceable right to offset current tax
assets against current tax liabilities, and they relate to taxes levied by the same taxation authority on either the same taxable
entity, or on different taxable entities where there is an intention to settle the current tax liabilities and assets on a net basis
or their tax assets and liabilities will be realized simultaneously.

2.17 Contingencies

A contingent liability is:

A possible obligation that arises from past events and whose existence will be confirmed only by the occurrence or
non-occurrence of one or more uncertain future events not wholly within the control of the Company; or A present obligation
that arises from past events but is not recognized because:

(i) It is not probable that an outflow of resources embodying economic benefits will be required to settle the obligation; or

(ii) The amount of the obligation cannot be measured with sufficient reliability.

A contingent asset is a possible asset that arises from past events and whose existence will be confirmed only by the
occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the Company.

Contingent liabilities and assets are not recognized on these balance sheet of the Company, except for contingent liabilities
assumed in a business combination that are present obligations arising from past events and which the fair values can be
reliably determined.

2.18 Earnings per share

Basic earnings per share is computed by dividing the profit / (loss) attributable to ordinary equity holders of the Company by
weighted average number of equity shares outstanding during the period adjusted for treasury shares held, if any. Diluted
earnings per share is computed by dividing the profit / (loss) attributable to ordinary equity holders of the Company using the
weighted-average number of equity shares considered for deriving basic earnings per share and weighted average number
of dilutive equivalent shares outstanding during the period, except where the results would be anti-dilutive. Dilutive potential
shares are deemed converted at the beginning of the period, unless issued at later date.

2.19 Fair value measurement

A number of financial instruments are measured at fair value as of each reporting date after initial recognition. Fair value is
the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market
participants at the measurement date. The fair value of an asset or a liability is measured using the assumptions that market
participants would use when pricing the asset or liability, assuming that market participants act in their economic best interest
by using quoted market rates, discounted cash flow analyses and other appropriate valuation models. The Company uses
valuation techniques that are appropriate in the circumstances and for which sufficient data is available to measure fair
value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs. All assets and
liabilities for which fair values are being measured or disclosed in these Consolidated Ind-AS Financial Statements are
categorized within the fair value hierarchy, described as follows:

• Level 1– This level of hierarchy includes financial assets that are measured by reference to quoted prices (unadjusted) in
active markets for identical assets or liabilities.

• Level 2 – This level of hierarchy includes financial assets and liabilities, measured using inputs other than quoted prices
included within Level 1 that are observable for the asset or liability, either directly (i.e., as prices) or indirectly (i.e., derived
from prices); and

• Level 3 – This level of hierarchy includes financial assets and liabilities measured using inputs that are not based on
observable market data (unobservable inputs). Fair values are determined in whole or in part, using a valuation model based
on assumptions that are neither supported by prices from observable current market transactions in the same instrument nor
are they based on available market data.

44
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

2.20 Cash flow statements

Cash flows are reported using the indirect method, whereby profit/(loss) for the period is adjusted for the effects of
transactions of a non-cash nature, any deferrals or accruals of past or future operating cash receipts or payments and item of
income or expenses associated with investing or financing cash flows. The cash flows from operating, investing and
financing activities of the Company are segregated.

As per the amendment to Ind-AS 7, applicable with effect from April 1, 2017, the Company provides disclosures that enable
users of financial statements to evaluate changes in liabilities arising from financing activities, including both changes arising
from cash flows and non-cash changes, suggesting inclusion of a reconciliation between the opening and closing balances in
these balance sheet for liabilities arising from financing activities, to meet the disclosure requirement. The Company has
provided the information for the current year in Note 12 (i).

2.21 Current and non-current classification

The Company prepares assets and liabilities in the statement of financial position based on current and non-current
classification. An asset/liability is classified as current when:

- It is expected to be realized or consumed in the Company’s normal operating cycle.

- It is held primarily for trading.

- It is expected to be realized within twelve months after the reporting period.

- If it is cash or cash equivalent, unless it is restricted from being exchanged or used to settle a liability for at least twelve
months after the reporting period, or

- The Company has no unconditional right to defer the settlement of the liability for at least twelve months after the reporting
period.

Any asset/liability not conforming to the above is classified as non-current.

Deferred tax assets and liabilities are classified as non-current assets and liabilities."

2.22 Investment in equity accounted investees

An associate is an entity over which the Company has significant influence. Significant influence is the power to participate in
the financial and operating policy decisions of the investee, but is not control or joint control over those policies.

A joint venture is a type of joint arrangement whereby the parties that have joint control of the arrangement have rights to the
net assets of the joint venture. Joint control is the contractually agreed sharing of control of an arrangement, which exists
only when decisions about the relevant activities require the unanimous consent of the parties sharing control.

An interest in an associate or joint venture is accounted for using the equity method from the date in which the investee
becomes an associate or a joint venture and are recognized initially at cost. Under the equity method, the investment in an
associate or a joint venture is initially recognized at cost. Subsequently, the carrying amount of the investment is adjusted to
recognize changes in the Company’s share of net assets of the associate or joint venture since the acquisition date. Goodwill
relating to the associate or joint venture is included in the carrying amount of the investment and is neither amortized nor
individually tested for impairment.

The Consolidated Statement of Profit or Loss reflects the Company’s share of the results of operations of the associate or
joint venture. Any change in OCI of those investees is presented as part of the Company’s OCI. In addition, when there has
been a change recognised directly in the equity of the associate, the Company recognises its share of any changes, when
applicable, in the statement of changes in equity. Unrealised gains and losses resulting from transactions between the
Company and the associate are eliminated to the extent of the interest in the associate.

The financial statements of the associate are prepared for the same reporting period as the Company. When necessary,
adjustments are made to bring the accounting policies in line with those of the Company.

After application of the equity method, the Company determines whether it is necessary to recognise an impairment loss on
its investment in its associate. At each reporting date, the Company determines whether there is objective evidence that the
investment in the associate is impaired. If there is such evidence, the Company calculates the amount of impairment as the
difference between the recoverable amount of the associate and its carrying value, and then recognises the loss within
‘Share of loss of equity accounted investees’ in the consolidated statement of profit or loss.

Upon loss of significant influence over the associate or joint control over the joint venture, the Company measures and
recognises any retained investment at its fair value. Any difference between the carrying amount of the associate or joint
venture upon loss of significant influence or joint control and the fair value of the retained investment and proceeds from
disposal is recognised in the consolidated statement of profit or loss."

3.2 Significant accounting estimates and judgements

The preparation of the Company's Consolidated Ind-AS Financial Statements in conformity with Ind-AS requires
management to make judgements, estimates and assumptions that affect the reported amounts of revenues, expenses,

45
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

assets and liabilities, and the accompanying disclosures, and the disclosure of contingent liabilities at the reporting period.
Actual results may differ from those estimates.

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized
in the period in which the estimates are revised if the revision affects only that period or in the period of the revision and
future periods if the revision affects both current and future periods. In particular, information about significant areas of
estimation, uncertainty and critical judgments in applying accounting policies that have the most significant effect on the
amounts recognized in the financial statements are included in the following notes:

(a) Allowance for Inventory obsolescence

Allowance for inventory obsolescence is estimated based on the best available facts and circumstances, including but not
limited to, the inventories’ own physical conditions, their market selling prices, and estimated costs to be incurred for their
sales. The allowances are re-evaluated and adjusted as additional information received affects the amount estimated.

(b) Impairment of intangible assets

The recoverable amounts of the cash generating units which goodwill has been allocated to have been determined based on
value in use calculations. The value in use calculations are based on a discounted cash flow models. The recoverable
amount is most sensitive to the discount rate used for the discounted cash flow model as well as the expected future cash
inflows and the growth rate used for extrapolation purposes.

(c) Impairment of non-financial assets

Impairment exists when the carrying value of an asset or cash generating unit exceeds its recoverable amount, which is the
higher of its fair value less costs to sell and its value in use. The fair value less costs to sell calculation is based on available
data from binding sales transactions in an arm’s length transaction of similar assets or observable market prices less
incremental costs for disposing the asset. The value in use calculation is based on a discounted cash flow model. The cash
flows are derived from the budget for the next ten years and do not include restructuring activities that the Company is not
yet committed to or significant future investments that will enhance the asset’s performance of the cash generating unit being
tested. The recoverable amount is most sensitive to the discount rate used for the discounted cash flow model as well as the
expected future cash inflows and the growth rate used for extrapolation purposes.

(d) Employees benefits plan

The cost of defined benefit pensions and other postretirement plans as well as the present value of the pension obligation
are determined using actuarial valuations. The actuarial valuation involves making various assumptions. These include the
determination of the discount rates, expected rates of return of assets, future salary increase, mortality rates and future
pension increases. Due to the complexity of the valuation, the underlying assumptions, defined benefit obligations are highly
sensitive to changes in these assumptions.

(e) Income Taxes

The Company has exposure to income taxes in Indian jurisdiction. Deferred tax assets are recognized for all unused tax
losses to the extent that it is probable that taxable profit will be available against which the losses can be utilized. Significant
managements judgment is required to determine the amount of deferred tax assets that can be recognized, based upon the
likely timing and level of future taxable profits together with future tax planning strategies.

Considering the cumulative tax positions and considering the loss for the year, the Company has not recognized deferred tax
assets on the losses.

(f) Business combinations

In our accounting for business combinations, judgment is required in determining whether an intangible asset is identifiable,
and should be recorded separately from goodwill. Additionally, estimating the acquisition date fair values of the identifiable
assets acquired and liabilities assumed involves considerable management judgment. These measurements are based on
information available at the acquisition date and are based on expectations and assumptions that have been deemed
reasonable by management. Changes in these judgments, estimates, and assumptions can materially affect the results of
operations.

(g) Expected credit losses on financial assets

On application of Ind-AS 109, the impairment provisions of financial assets are based on assumptions about risk of default
and expected timing of collection. The Company uses judgment in making these assumptions and selecting the inputs to the
impairment calculation, based on the Company's past history, customer’s credit-worthiness, existing market conditions as
well as forward looking estimates at the end of each reporting period.

(h) Revenue from contracts with customers

The Company estimates commission reversal on the returns of products sold by the sellers on the platform on the basis of
historical trends of returns from the customers for each product category. Estimates of returns are revised when the
Company believes that changes in the policies for returns or external factors will significantly affect the amounts recorded for
return assets and refund liabilities.

46
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

(i) Other estimates

The preparation of Consolidated Ind-AS Financial Statements involves estimates and assumptions that affect the reported
amount of assets, liabilities, disclosure of contingent liabilities at the date of Consolidated Ind-AS Financial Statements and
the reported amount of revenues and expenses for the reporting period. Specifically, the Company estimates the
un-collectability of accounts receivable by analysing historical payment patterns, customer concentrations, customer
credit-worthiness and current economic trends. If the financial condition of a customer deteriorates, additional allowances
may be required.

3.3 New and amended standards and interpretations

(i) Amendments to Ind AS 1 and Ind AS 8: Definition of Material

"The amendments provide a new definition of material that states, “information is material if omitting, misstating or obscuring
it could reasonably be expected to influence decisions that the primary users of general purpose financial statements make
on the basis of those financial statements, which provide financial information about a specific reporting entity.” The
amendments clarify that materiality will depend on the nature or magnitude of information, either individually or in
combination with other information, in the context of the financial statements. A misstatement of information is material if it
could reasonably be expected to influence decisions made by the primary users. These amendments had no impact on the
Consolidated Ind-AS Financial Statements of, nor is there expected to be any future impact to the Company.

These amendments are applicable prospectively for annual periods beginning on or after the 1 April 2020. The amendments
to the definition of material are not expected to have a significant impact on the Company Consolidated Ind-AS Financial
Statements nor is there expected to be any future impact to the Company."

ii) Amendments to Ind AS 103 Business Combinations

"The amendment to Ind AS 103 Business Combinations clarifies that to be considered a business, an integrated set of
activities and assets must include, at a minimum, an input and a substantive process that, together, significantly contribute to
the ability to create output. Furthermore, it clarifies that a business can exist without including all of the inputs and processes
needed to create outputs.

These amendments are applicable to business combinations for which the acquisition date is on or after the beginning of the
first annual reporting period beginning on or after the 1 April 2020 and to asset acquisitions that occur on or after the
beginning of that period. This amendment had no impact on the Financial Statements of the Company.

[610300] Notes - Accounting policies, changes in accounting estimates and errors

Unless otherwise specified, all monetary values are in Millions of INR
01/04/2020 01/04/2019
to to
31/03/2021 31/03/2020
Disclosure of changes in accounting policies, accounting estimates and errors
[TextBlock]
Disclosure of initial application of standards or interpretations
[TextBlock]
Whether initial application of an Ind AS has an effect on the
No No
current period or any prior period
Disclosure of voluntary change in accounting policy [TextBlock]
Whether there is any voluntary change in accounting policy No No
Disclosure of changes in accounting estimates [TextBlock]
Whether there are changes in acounting estimates during the year No No

47
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

[400600] Notes - Property, plant and equipment

Disclosure of additional information about property plant and equipment [Table] ..(1)
Unless otherwise specified, all monetary values are in Millions of INR
Classes of property, plant and equipment [Axis] Furniture and fixtures [Member] Office equipment [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member] Owned assets [Member]
01/04/2020 01/04/2019 01/04/2020 01/04/2019
to to to to
31/03/2021 31/03/2020 31/03/2021 31/03/2020
Disclosure of additional information about
property plant and equipment [Abstract]
Disclosure of additional information about
property plant and equipment [Line items]
Depreciation method, property, plant and Straight Line Straight Line
Straight Line Method Straight Line Method
equipment Method Method
Useful lives or depreciation rates, property,
5 years 5 years 5 years 5 years
plant and equipment
Whether property, plant and equipment are
No No No No
stated at revalued amount

Disclosure of additional information about property plant and equipment [Table] ..(2)
Unless otherwise specified, all monetary values are in Millions of INR
Classes of property, plant and equipment [Axis] Computer equipments [Member] Leasehold improvements [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member] Owned assets [Member]
01/04/2020 01/04/2019 01/04/2020 01/04/2019
to to to to
31/03/2021 31/03/2020 31/03/2021 31/03/2020
Disclosure of additional information about
property plant and equipment [Abstract]
Disclosure of additional information about
property plant and equipment [Line items]
Depreciation method, property, plant and Straight Line Straight Line
Straight Line Method Straight Line Method
equipment Method Method
Useful lives or depreciation rates, property,
3 years 3 years 5 years 5 years
plant and equipment
Whether property, plant and equipment are
No No No No
stated at revalued amount

48
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Disclosure of detailed information about property, plant and equipment [Table] ..(1)
Unless otherwise specified, all monetary values are in Millions of INR
Classes of property, plant and equipment [Axis] Property, plant and equipment [Member]
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member]
Carrying amount accumulated depreciation and gross carrying Gross carrying
Carrying amount [Member]
amount [Axis] amount [Member]
01/04/2020 01/04/2019 01/04/2020
to to 31/03/2019 to
31/03/2021 31/03/2020 31/03/2021
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 5 0 5
equipment
Acquisitions through business
combinations, property, plant and 0 0 0
equipment
Increase (decrease) through net
exchange differences, property, 0 0 0
plant and equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
-4 -6
loss
Depreciation recognised as part of
0 0
cost of other assets
Total Depreciation property plant and
-4 -6
equipment
Impairment loss recognised in profit
or loss, property, plant and 0 0
equipment
Reversal of impairment loss
recognised in profit or loss, 0 0
property, plant and equipment
Revaluation increase (decrease),
0 0 0
property, plant and equipment
Impairment loss recognised in other
comprehensive income, property, plant and 0 0
equipment
Reversal of impairment loss recognised
in other comprehensive income, property, 0 0
plant and equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through
transfers, property, plant and 0 0 0
equipment
Increase (decrease) through other
changes, property, plant and 0 0 0
equipment
Total increase (decrease) through
transfers and other changes, property, 0 0 0
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
0 3 0
equipment
Retirements, property, plant and
0 0 0
equipment
Total disposals and retirements,
0 3 0
property, plant and equipment
Decrease through classified as held
for sale, property, plant and 0 0 0
equipment
Decrease through loss of control of
subsidiary, property, plant and 0 0 0
equipment

49
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Total increase (decrease) in property,

1 -9 5
plant and equipment
Property, plant and equipment at end of
3 2 11 44
period

50
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Disclosure of detailed information about property, plant and equipment [Table] ..(2)
Unless otherwise specified, all monetary values are in Millions of INR
Classes of property, plant and equipment [Axis] Property, plant and equipment [Member]
Sub classes of property, plant and equipment [Axis] Owned and leased assets [Member]
Carrying amount accumulated depreciation and gross carrying Accumulated depreciation and
Gross carrying amount [Member]
amount [Axis] impairment [Member]
01/04/2019 01/04/2020 01/04/2019
to 31/03/2019 to to
31/03/2020 31/03/2021 31/03/2020
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 0
equipment
Acquisitions through business
combinations, property, plant and 0
equipment
Increase (decrease) through net
exchange differences, property, 0
plant and equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
4 6
loss
Depreciation recognised as part of
0 0
cost of other assets
Total Depreciation property plant and
4 6
equipment
Impairment loss recognised in profit
or loss, property, plant and 0 0
equipment
Reversal of impairment loss
recognised in profit or loss, 0 0
property, plant and equipment
Revaluation increase (decrease),
0
property, plant and equipment
Impairment loss recognised in other
comprehensive income, property, plant and 0 0
equipment
Reversal of impairment loss recognised
in other comprehensive income, property, 0 0
plant and equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through
transfers, property, plant and 0 0 0
equipment
Increase (decrease) through other
changes, property, plant and 0 0 0
equipment
Total increase (decrease) through
transfers and other changes, property, 0 0 0
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
69 0 66
equipment
Retirements, property, plant and
0 0 0
equipment
Total disposals and retirements,
69 0 66
property, plant and equipment
Decrease through classified as held
for sale, property, plant and 0 0 0
equipment
Decrease through loss of control of
subsidiary, property, plant and 0 0 0
equipment

51
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Total increase (decrease) in property,

-69 4 -60
plant and equipment
Property, plant and equipment at end of
39 108 41 37
period

52
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Disclosure of detailed information about property, plant and equipment [Table] ..(3)
Unless otherwise specified, all monetary values are in Millions of INR
Classes of property, plant and equipment [Axis] Property, plant and equipment [Member]
Owned and leased
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
assets [Member]
Accumulated
Carrying amount accumulated depreciation and gross carrying depreciation and
Carrying amount [Member]
amount [Axis] impairment
[Member]
01/04/2020 01/04/2019
31/03/2019 to to 31/03/2019
31/03/2021 31/03/2020
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 5 0
equipment
Acquisitions through business
combinations, property, plant and 0 0
equipment
Increase (decrease) through net
exchange differences, property, 0 0
plant and equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
-4 -6
loss
Depreciation recognised as part of
0 0
cost of other assets
Total Depreciation property plant and
-4 -6
equipment
Impairment loss recognised in profit
or loss, property, plant and 0 0
equipment
Reversal of impairment loss
recognised in profit or loss, 0 0
property, plant and equipment
Revaluation increase (decrease),
0 0
property, plant and equipment
Impairment loss recognised in other
comprehensive income, property, plant and 0 0
equipment
Reversal of impairment loss recognised
in other comprehensive income, property, 0 0
plant and equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through
transfers, property, plant and 0 0
equipment
Increase (decrease) through other
changes, property, plant and 0 0
equipment
Total increase (decrease) through
transfers and other changes, property, 0 0
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
0 3
equipment
Retirements, property, plant and
0 0
equipment
Total disposals and retirements,
0 3
property, plant and equipment
Decrease through classified as held
for sale, property, plant and 0 0
equipment

53
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Decrease through loss of control of

subsidiary, property, plant and 0 0
equipment
Total increase (decrease) in property,
1 -9
plant and equipment
Property, plant and equipment at end of
97 3 2 11
period

54
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Disclosure of detailed information about property, plant and equipment [Table] ..(4)
Unless otherwise specified, all monetary values are in Millions of INR
Classes of property, plant and equipment [Axis] Property, plant and equipment [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
Accumulated
Carrying amount accumulated depreciation and gross carrying depreciation and
Gross carrying amount [Member]
amount [Axis] impairment
[Member]
01/04/2020 01/04/2019 01/04/2020
to to 31/03/2019 to
31/03/2021 31/03/2020 31/03/2021
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 5 0
equipment
Acquisitions through business
combinations, property, plant and 0 0
equipment
Increase (decrease) through net
exchange differences, property, 0 0
plant and equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
4
loss
Depreciation recognised as part of
0
cost of other assets
Total Depreciation property plant and
4
equipment
Impairment loss recognised in profit
or loss, property, plant and 0
equipment
Reversal of impairment loss
recognised in profit or loss, 0
property, plant and equipment
Revaluation increase (decrease),
0 0
property, plant and equipment
Impairment loss recognised in other
comprehensive income, property, plant and 0
equipment
Reversal of impairment loss recognised
in other comprehensive income, property, 0
plant and equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through
transfers, property, plant and 0 0 0
equipment
Increase (decrease) through other
changes, property, plant and 0 0 0
equipment
Total increase (decrease) through
transfers and other changes, property, 0 0 0
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
0 69 0
equipment
Retirements, property, plant and
0 0 0
equipment
Total disposals and retirements,
0 69 0
property, plant and equipment
Decrease through classified as held
for sale, property, plant and 0 0 0
equipment

55
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Decrease through loss of control of

subsidiary, property, plant and 0 0 0
equipment
Total increase (decrease) in property,
5 -69 4
plant and equipment
Property, plant and equipment at end of
44 39 108 41
period

56
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Disclosure of detailed information about property, plant and equipment [Table] ..(5)
Unless otherwise specified, all monetary values are in Millions of INR
Property, plant and equipment
Classes of property, plant and equipment [Axis] Furniture and fixtures [Member]
[Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member] Owned assets [Member]
Carrying amount accumulated depreciation and gross carrying Accumulated depreciation and
Carrying amount [Member]
amount [Axis] impairment [Member]
01/04/2019 01/04/2020 01/04/2019
to 31/03/2019 to to
31/03/2020 31/03/2021 31/03/2020
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 4 0
equipment
Acquisitions through business
combinations, property, plant and 0 0
equipment
Increase (decrease) through net
exchange differences, property, 0 0
plant and equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
6 -4 0
loss
Depreciation recognised as part of
0 0 0
cost of other assets
Total Depreciation property plant and
6 -4 0
equipment
Impairment loss recognised in profit
or loss, property, plant and 0 0 0
equipment
Reversal of impairment loss
recognised in profit or loss, 0 0 0
property, plant and equipment
Revaluation increase (decrease),
0 0
property, plant and equipment
Impairment loss recognised in other
comprehensive income, property, plant and 0 0 0
equipment
Reversal of impairment loss recognised
in other comprehensive income, property, 0 0 0
plant and equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through
transfers, property, plant and 0 0 0
equipment
Increase (decrease) through other
changes, property, plant and 0 0 0
equipment
Total increase (decrease) through
transfers and other changes, property, 0 0 0
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
66 0 0
equipment
Retirements, property, plant and
0 0 0
equipment
Total disposals and retirements,
66 0 0
property, plant and equipment
Decrease through classified as held
for sale, property, plant and 0 0 0
equipment
Decrease through loss of control of
subsidiary, property, plant and 0 0 0
equipment

57
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Total increase (decrease) in property,

-60 0 0
plant and equipment
Property, plant and equipment at end of
37 97 0 0
period

Disclosure of detailed information about property, plant and equipment [Table] ..(6)
Unless otherwise specified, all monetary values are in Millions of INR
Classes of property, plant and equipment [Axis] Furniture and fixtures [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
Carrying amount accumulated depreciation and gross carrying Carrying amount
Gross carrying amount [Member]
amount [Axis] [Member]
01/04/2020 01/04/2019
31/03/2019 to to 31/03/2019
31/03/2021 31/03/2020
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 4 0
equipment
Acquisitions through business
combinations, property, plant and 0 0
equipment
Increase (decrease) through net
exchange differences, property, 0 0
plant and equipment
Revaluation increase (decrease),
0 0
property, plant and equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through
transfers, property, plant and 0 0
equipment
Increase (decrease) through other
changes, property, plant and 0 0
equipment
Total increase (decrease) through
transfers and other changes, property, 0 0
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
0 2
equipment
Retirements, property, plant and
0 0
equipment
Total disposals and retirements,
0 2
property, plant and equipment
Decrease through classified as held
for sale, property, plant and 0 0
equipment
Decrease through loss of control of
subsidiary, property, plant and 0 0
equipment
Total increase (decrease) in property,
4 -2
plant and equipment
Property, plant and equipment at end of
0 8 4 6
period

58
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Disclosure of detailed information about property, plant and equipment [Table] ..(7)
Unless otherwise specified, all monetary values are in Millions of INR
Office equipment
Classes of property, plant and equipment [Axis] Furniture and fixtures [Member]
[Member]
Owned assets
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
[Member]
Carrying amount accumulated depreciation and gross carrying Carrying amount
Accumulated depreciation and impairment [Member]
amount [Axis] [Member]
01/04/2020 01/04/2019 01/04/2020
to to 31/03/2019 to
31/03/2021 31/03/2020 31/03/2021
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 1
equipment
Acquisitions through business
combinations, property, plant and 0
equipment
Increase (decrease) through net
exchange differences, property, 0
plant and equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
4 0 0
loss
Depreciation recognised as part of
0 0 0
cost of other assets
Total Depreciation property plant and
4 0 0
equipment
Impairment loss recognised in profit
or loss, property, plant and 0 0 0
equipment
Reversal of impairment loss
recognised in profit or loss, 0 0 0
property, plant and equipment
Revaluation increase (decrease),
0
property, plant and equipment
Impairment loss recognised in other
comprehensive income, property, plant and 0 0 0
equipment
Reversal of impairment loss recognised
in other comprehensive income, property, 0 0 0
plant and equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through
transfers, property, plant and 0 0 0
equipment
Increase (decrease) through other
changes, property, plant and 0 0 0
equipment
Total increase (decrease) through
transfers and other changes, property, 0 0 0
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
0 2 0
equipment
Retirements, property, plant and
0 0 0
equipment
Total disposals and retirements,
0 2 0
property, plant and equipment
Decrease through classified as held
for sale, property, plant and 0 0 0
equipment

59
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Decrease through loss of control of

subsidiary, property, plant and 0 0 0
equipment
Total increase (decrease) in property,
4 -2 1
plant and equipment
Property, plant and equipment at end of
8 4 6 1
period

60
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Disclosure of detailed information about property, plant and equipment [Table] ..(8)
Unless otherwise specified, all monetary values are in Millions of INR
Classes of property, plant and equipment [Axis] Office equipment [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
Carrying amount accumulated depreciation and gross carrying
Carrying amount [Member] Gross carrying amount [Member]
amount [Axis]
01/04/2019 01/04/2020 01/04/2019
to 31/03/2019 to to
31/03/2020 31/03/2021 31/03/2020
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 0 1 0
equipment
Acquisitions through business
combinations, property, plant and 0 0 0
equipment
Increase (decrease) through net
exchange differences, property, 0 0 0
plant and equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
-6
loss
Depreciation recognised as part of
0
cost of other assets
Total Depreciation property plant and
-6
equipment
Impairment loss recognised in profit
or loss, property, plant and 0
equipment
Reversal of impairment loss
recognised in profit or loss, 0
property, plant and equipment
Revaluation increase (decrease),
0 0 0
property, plant and equipment
Impairment loss recognised in other
comprehensive income, property, plant and 0
equipment
Reversal of impairment loss recognised
in other comprehensive income, property, 0
plant and equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through
transfers, property, plant and 0 0 0
equipment
Increase (decrease) through other
changes, property, plant and 0 0 0
equipment
Total increase (decrease) through
transfers and other changes, property, 0 0 0
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
3 0 60
equipment
Retirements, property, plant and
0 0 0
equipment
Total disposals and retirements,
3 0 60
property, plant and equipment
Decrease through classified as held
for sale, property, plant and 0 0 0
equipment
Decrease through loss of control of
subsidiary, property, plant and 0 0 0
equipment

61
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Total increase (decrease) in property,

-9 1 -60
plant and equipment
Property, plant and equipment at end of
0 9 4 3
period

Disclosure of detailed information about property, plant and equipment [Table] ..(9)
Unless otherwise specified, all monetary values are in Millions of INR
Classes of property, plant and equipment [Axis] Office equipment [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
Carrying amount accumulated depreciation and gross carrying Gross carrying
Accumulated depreciation and impairment [Member]
amount [Axis] amount [Member]
01/04/2020 01/04/2019
31/03/2019 to to 31/03/2019
31/03/2021 31/03/2020
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
0 6
loss
Depreciation recognised as part of
0 0
cost of other assets
Total Depreciation property plant and
0 6
equipment
Impairment loss recognised in profit
or loss, property, plant and 0 0
equipment
Reversal of impairment loss
recognised in profit or loss, 0 0
property, plant and equipment
Impairment loss recognised in other
comprehensive income, property, plant and 0 0
equipment
Reversal of impairment loss recognised
in other comprehensive income, property, 0 0
plant and equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through
transfers, property, plant and 0 0
equipment
Increase (decrease) through other
changes, property, plant and 0 0
equipment
Total increase (decrease) through
transfers and other changes, property, 0 0
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
0 57
equipment
Retirements, property, plant and
0 0
equipment
Total disposals and retirements,
0 57
property, plant and equipment
Decrease through classified as held
for sale, property, plant and 0 0
equipment
Decrease through loss of control of
subsidiary, property, plant and 0 0
equipment
Total increase (decrease) in property,
0 -51
plant and equipment
Property, plant and equipment at end of
63 3 3 54
period

62
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Disclosure of detailed information about property, plant and equipment [Table] ..(10)
Unless otherwise specified, all monetary values are in Millions of INR
Classes of property, plant and equipment [Axis] Computer equipments [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
Carrying amount accumulated depreciation and gross carrying Gross carrying
Carrying amount [Member]
amount [Axis] amount [Member]
01/04/2020 01/04/2019 01/04/2020
to to 31/03/2019 to
31/03/2021 31/03/2020 31/03/2021
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 0 0 0
equipment
Acquisitions through business
combinations, property, plant and 0 0 0
equipment
Increase (decrease) through net
exchange differences, property, 0 0 0
plant and equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
0 0
loss
Depreciation recognised as part of
0 0
cost of other assets
Total Depreciation property plant and
0 0
equipment
Impairment loss recognised in profit
or loss, property, plant and 0 0
equipment
Reversal of impairment loss
recognised in profit or loss, 0 0
property, plant and equipment
Revaluation increase (decrease),
0 0 0
property, plant and equipment
Impairment loss recognised in other
comprehensive income, property, plant and 0 0
equipment
Reversal of impairment loss recognised
in other comprehensive income, property, 0 0
plant and equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through
transfers, property, plant and 0 0 0
equipment
Increase (decrease) through other
changes, property, plant and 0 0 0
equipment
Total increase (decrease) through
transfers and other changes, property, 0 0 0
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
0 0 0
equipment
Retirements, property, plant and
0 0 0
equipment
Total disposals and retirements,
0 0 0
property, plant and equipment
Decrease through classified as held
for sale, property, plant and 0 0 0
equipment
Decrease through loss of control of
subsidiary, property, plant and 0 0 0
equipment

63
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Total increase (decrease) in property,

0 0 0
plant and equipment
Property, plant and equipment at end of
1 1 1 31
period

64
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Disclosure of detailed information about property, plant and equipment [Table] ..(11)
Unless otherwise specified, all monetary values are in Millions of INR
Classes of property, plant and equipment [Axis] Computer equipments [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
Carrying amount accumulated depreciation and gross carrying Accumulated depreciation and
Gross carrying amount [Member]
amount [Axis] impairment [Member]
01/04/2019 01/04/2020 01/04/2019
to 31/03/2019 to to
31/03/2020 31/03/2021 31/03/2020
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 0
equipment
Acquisitions through business
combinations, property, plant and 0
equipment
Increase (decrease) through net
exchange differences, property, 0
plant and equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
0 0
loss
Depreciation recognised as part of
0 0
cost of other assets
Total Depreciation property plant and
0 0
equipment
Impairment loss recognised in profit
or loss, property, plant and 0 0
equipment
Reversal of impairment loss
recognised in profit or loss, 0 0
property, plant and equipment
Revaluation increase (decrease),
0
property, plant and equipment
Impairment loss recognised in other
comprehensive income, property, plant and 0 0
equipment
Reversal of impairment loss recognised
in other comprehensive income, property, 0 0
plant and equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through
transfers, property, plant and 0 0 0
equipment
Increase (decrease) through other
changes, property, plant and 0 0 0
equipment
Total increase (decrease) through
transfers and other changes, property, 0 0 0
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
5 0 5
equipment
Retirements, property, plant and
0 0 0
equipment
Total disposals and retirements,
5 0 5
property, plant and equipment
Decrease through classified as held
for sale, property, plant and 0 0 0
equipment
Decrease through loss of control of
subsidiary, property, plant and 0 0 0
equipment

65
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Total increase (decrease) in property,

-5 0 -5
plant and equipment
Property, plant and equipment at end of
31 36 30 30
period

66
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Disclosure of detailed information about property, plant and equipment [Table] ..(12)
Unless otherwise specified, all monetary values are in Millions of INR
Computer
Classes of property, plant and equipment [Axis] equipments Leasehold improvements [Member]
[Member]
Owned assets
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
[Member]
Accumulated
Carrying amount accumulated depreciation and gross carrying depreciation and
Carrying amount [Member]
amount [Axis] impairment
[Member]
01/04/2020 01/04/2019
31/03/2019 to to 31/03/2019
31/03/2021 31/03/2020
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 0 0
equipment
Acquisitions through business
combinations, property, plant and 0 0
equipment
Increase (decrease) through net
exchange differences, property, 0 0
plant and equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
0 0
loss
Depreciation recognised as part of
0 0
cost of other assets
Total Depreciation property plant and
0 0
equipment
Impairment loss recognised in profit
or loss, property, plant and 0 0
equipment
Reversal of impairment loss
recognised in profit or loss, 0 0
property, plant and equipment
Revaluation increase (decrease),
0 0
property, plant and equipment
Impairment loss recognised in other
comprehensive income, property, plant and 0 0
equipment
Reversal of impairment loss recognised
in other comprehensive income, property, 0 0
plant and equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through
transfers, property, plant and 0 0
equipment
Increase (decrease) through other
changes, property, plant and 0 0
equipment
Total increase (decrease) through
transfers and other changes, property, 0 0
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
0 0
equipment
Retirements, property, plant and
0 0
equipment
Total disposals and retirements,
0 0
property, plant and equipment

67
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Decrease through classified as held

for sale, property, plant and 0 0
equipment
Decrease through loss of control of
subsidiary, property, plant and 0 0
equipment
Total increase (decrease) in property,
0 0
plant and equipment
Property, plant and equipment at end of
35 1 1 1
period

68
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Disclosure of detailed information about property, plant and equipment [Table] ..(13)
Unless otherwise specified, all monetary values are in Millions of INR
Classes of property, plant and equipment [Axis] Leasehold improvements [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
Accumulated
Carrying amount accumulated depreciation and gross carrying depreciation and
Gross carrying amount [Member]
amount [Axis] impairment
[Member]
01/04/2020 01/04/2019 01/04/2020
to to 31/03/2019 to
31/03/2021 31/03/2020 31/03/2021
Disclosure of detailed information about property,
plant and equipment [Abstract]
Disclosure of detailed information about
property, plant and equipment [Line items]
Reconciliation of changes in property, plant
and equipment [Abstract]
Changes in property, plant and equipment
[Abstract]
Additions other than through business
combinations, property, plant and 0 0
equipment
Acquisitions through business
combinations, property, plant and 0 0
equipment
Increase (decrease) through net
exchange differences, property, 0 0
plant and equipment
Depreciation, property, plant and
equipment [Abstract]
Depreciation recognised in profit or
0
loss
Depreciation recognised as part of
0
cost of other assets
Total Depreciation property plant and
0
equipment
Impairment loss recognised in profit
or loss, property, plant and 0
equipment
Reversal of impairment loss
recognised in profit or loss, 0
property, plant and equipment
Revaluation increase (decrease),
0 0
property, plant and equipment
Impairment loss recognised in other
comprehensive income, property, plant and 0
equipment
Reversal of impairment loss recognised
in other comprehensive income, property, 0
plant and equipment
Increase (decrease) through transfers and
other changes, property, plant and
equipment [Abstract]
Increase (decrease) through
transfers, property, plant and 0 0 0
equipment
Increase (decrease) through other
changes, property, plant and 0 0 0
equipment
Total increase (decrease) through
transfers and other changes, property, 0 0 0
plant and equipment
Disposals and retirements, property,
plant and equipment [Abstract]
Disposals, property, plant and
0 2 0
equipment
Retirements, property, plant and
0 0 0
equipment
Total disposals and retirements,
0 2 0
property, plant and equipment
Decrease through classified as held
for sale, property, plant and 0 0 0
equipment

69
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Decrease through loss of control of

subsidiary, property, plant and 0 0 0
equipment
Total increase (decrease) in property,
0 -2 0
plant and equipment
Property, plant and equipment at end of
1 1 3 0
period

Disclosure of detailed information about property, plant and equipment [Table] ..(14)
Unless otherwise specified, all monetary values are in Millions of INR
Classes of property, plant and equipment [Axis] Leasehold improvements [Member]
Sub classes of property, plant and equipment [Axis] Owned assets [Member]
Accumulated depreciation and
Carrying amount accumulated depreciation and gross carrying amount [Axis]
impairment [Member]
01/04/2019
to 31/03/2019
31/03/2020
Disclosure of detailed information about property, plant and equipment [Abstract]
Disclosure of detailed information about property, plant and equipment [Line items]
Reconciliation of changes in property, plant and equipment [Abstract]
Changes in property, plant and equipment [Abstract]
Depreciation, property, plant and equipment [Abstract]
Depreciation recognised in profit or loss 0
Depreciation recognised as part of cost of other assets 0
Total Depreciation property plant and equipment 0
Impairment loss recognised in profit or loss, property, plant and equipment 0
Reversal of impairment loss recognised in profit or loss, property, plant
0
and equipment
Impairment loss recognised in other comprehensive income, property, plant
0
and equipment
Reversal of impairment loss recognised in other comprehensive income,
0
property, plant and equipment
Increase (decrease) through transfers and other changes, property, plant
and equipment [Abstract]
Increase (decrease) through transfers, property, plant and equipment 0
Increase (decrease) through other changes, property, plant and equipment 0
Total increase (decrease) through transfers and other changes,
0
property, plant and equipment
Disposals and retirements, property, plant and equipment [Abstract]
Disposals, property, plant and equipment 2
Retirements, property, plant and equipment 0
Total disposals and retirements, property, plant and equipment 2
Decrease through classified as held for sale, property, plant and equipment 0
Decrease through loss of control of subsidiary, property, plant and
0
equipment
Total increase (decrease) in property, plant and equipment -2
Property, plant and equipment at end of period 0 2

[612100] Notes - Impairment of assets

Unless otherwise specified, all monetary values are in Millions of INR
01/04/2020 01/04/2019
to to
31/03/2021 31/03/2020
Disclosure of impairment of assets [TextBlock]
Disclosure of impairment loss and reversal of impairment loss [TextBlock]
Whether there is any impairment loss or reversal of impairment loss
No No
during the year
Disclosure of information for impairment loss recognised or reversed
for individual Assets or cash-generating unit [TextBlock]
Whether impairment loss recognised or reversed for individual Assets
No No
or cash-generating unit

70
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

[400700] Notes - Investment property

Unless otherwise specified, all monetary values are in Millions of INR
01/04/2020 01/04/2019
to to
31/03/2021 31/03/2020
Disclosure of investment property [TextBlock]
Depreciation method, investment property, cost model NA NA
Useful lives or depreciation rates, investment property, cost model NA NA

[400800] Notes - Goodwill

Disclosure of reconciliation of changes in goodwill [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Carrying amount accumulated amortization and impairment and Gross carrying
Carrying amount [Member]
gross carrying amount [Axis] amount [Member]
01/04/2020 01/04/2019 01/04/2020
to to 31/03/2019 to
31/03/2021 31/03/2020 31/03/2021
Disclosure of reconciliation of changes in goodwill
[Abstract]
Disclosure of reconciliation of changes in goodwill
[Line items]
Changes in goodwill [Abstract]
Acquisitions through business combinations,
0 0 0
goodwill
Increase (decrease) through net exchange
0 0 0
differences, goodwill
Impairment loss recognised in profit or loss,
0 0
goodwill
Increase (decrease) through transfers and
other changes, Goodwill [Abstract]
Increase (decrease) through transfers,
0 0 0
goodwill
Increase (decrease) through other changes,
0 0 0
goodwill
Total increase (decrease) through
0 0 0
transfers and other changes, goodwill
Disposals and retirements, Goodwill [Abstract]
Disposals, goodwill 0 0 0
Retirements, goodwill 0 0 0
Total disposals and retirements, goodwill 0 0 0
Decrease through classified as held for sale,
0 0 0
goodwill
Decrease through loss of control of subsidiary,
0 0 0
goodwill
Subsequent recognition of deferred tax assets,
0 0 0
goodwill
Total increase (decrease) in goodwill 0 0 0
Goodwill at end of period 18 18 18 18

71
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Disclosure of reconciliation of changes in goodwill [Table] ..(2)

Unless otherwise specified, all monetary values are in Millions of INR
Carrying amount accumulated amortization and impairment and Accumulated amortization and
Gross carrying amount [Member]
gross carrying amount [Axis] impairment [Member]
01/04/2019 01/04/2020 01/04/2019
to 31/03/2019 to to
31/03/2020 31/03/2021 31/03/2020
Disclosure of reconciliation of changes in goodwill
[Abstract]
Disclosure of reconciliation of changes in goodwill
[Line items]
Changes in goodwill [Abstract]
Acquisitions through business combinations,
0
goodwill
Increase (decrease) through net exchange
0
differences, goodwill
Impairment loss recognised in profit or loss,
0 0
goodwill
Increase (decrease) through transfers and
other changes, Goodwill [Abstract]
Increase (decrease) through transfers,
0 0 0
goodwill
Increase (decrease) through other changes,
0 0 0
goodwill
Total increase (decrease) through
0 0 0
transfers and other changes, goodwill
Disposals and retirements, Goodwill [Abstract]
Disposals, goodwill 0 0 0
Retirements, goodwill 0 0 0
Total disposals and retirements, goodwill 0 0 0
Decrease through classified as held for sale,
0 0 0
goodwill
Decrease through loss of control of subsidiary,
0 0 0
goodwill
Subsequent recognition of deferred tax assets,
0 0 0
goodwill
Total increase (decrease) in goodwill 0 0 0
Goodwill at end of period 18 18 0 0

Disclosure of reconciliation of changes in goodwill [Table] ..(3)

Unless otherwise specified, all monetary values are in Millions of INR
Accumulated
amortization and
Carrying amount accumulated amortization and impairment and gross carrying amount [Axis]
impairment
[Member]
31/03/2019
Disclosure of reconciliation of changes in goodwill [Abstract]
Disclosure of reconciliation of changes in goodwill [Line items]
Goodwill at end of period 0

72
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

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

01/04/2020 01/04/2019
to to 31/03/2019
31/03/2021 31/03/2020
Disclosure of goodwill [TextBlock]
Disclosure of reconciliation of changes in goodwill [Abstract]
Changes in goodwill [Abstract]
Acquisitions through business combinations, goodwill 0 0
Increase (decrease) through net exchange differences, goodwill 0 0
Impairment loss recognised in profit or loss, goodwill 0 0
Increase (decrease) through transfers and other changes, Goodwill
[Abstract]
Increase (decrease) through transfers, goodwill 0 0
Increase (decrease) through other changes, goodwill 0 0
Total increase (decrease) through transfers and other changes,
0 0
goodwill
Disposals and retirements, Goodwill [Abstract]
Disposals, goodwill 0 0
Retirements, goodwill 0 0
Total disposals and retirements, goodwill 0 0
Decrease through classified as held for sale, goodwill 0 0
Decrease through loss of control of subsidiary, goodwill 0 0
Subsequent recognition of deferred tax assets, goodwill 0 0
Total increase (decrease) in goodwill 0 0
Goodwill at end of period 18 18 18

73
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

[400900] Notes - Other intangible assets

Disclosure of detailed information about other intangible assets [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Classes of other intangible assets [Axis] Company other intangible assets [Member]
Internally generated and other than internally generated intangible assets
Sub classes of other intangible assets [Axis]
[Member]
Carrying amount accumulated amortization and impairment and Gross carrying
Carrying amount [Member]
gross carrying amount [Axis] amount [Member]
01/04/2020 01/04/2019 01/04/2020
to to 31/03/2019 to
31/03/2021 31/03/2020 31/03/2021
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Additions other than through business
0 5 0
combinations
Acquisitions through business combinations 0 0 0
Increase (decrease) through net exchange
0 0 0
differences
Amortisation other intangible assets -2 -1
Impairment loss recognised in profit or
0 0
loss
Reversal of impairment loss recognised
0 0
in profit or loss
Revaluation increase (decrease), other
0 0 0
intangible assets
Impairment loss recognised in other
comprehensive income, other intangible 0 0
assets
Reversal of impairment loss recognised in
other comprehensive income, other 0 0
intangible assets
Increase (decrease) through
transfers and other changes, other
intangible assets [Abstract]
Increase (decrease) through
0 0 0
transfers, other intangible assets
Increase (decrease) through other
0 0 0
changes
Total increase (decrease) through
transfers and other changes, Other 0 0 0
intangible assets
Disposals and retirements, other
intangible assets [Abstract]
Disposals 0 0 0
Retirements 0 0 0
Total Disposals and retirements,
0 0 0
Other intangible assets
Decrease through classified as held for
0 0 0
sale
Decrease through loss of control of
0 0 0
subsidiary
Total increase (decrease) in Other
-2 4 0
intangible assets
Other intangible assets at end of period 2 4 0 23

74
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Disclosure of detailed information about other intangible assets [Table] ..(2)

Unless otherwise specified, all monetary values are in Millions of INR
Classes of other intangible assets [Axis] Company other intangible assets [Member]
Internally generated and other than internally generated intangible assets
Sub classes of other intangible assets [Axis]
[Member]
Carrying amount accumulated amortization and impairment and Accumulated amortization and
Gross carrying amount [Member]
gross carrying amount [Axis] impairment [Member]
01/04/2019 01/04/2020 01/04/2019
to 31/03/2019 to to
31/03/2020 31/03/2021 31/03/2020
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Additions other than through business
5
combinations
Acquisitions through business combinations 0
Increase (decrease) through net exchange
0
differences
Amortisation other intangible assets 2 1
Impairment loss recognised in profit or
0 0
loss
Reversal of impairment loss recognised
0 0
in profit or loss
Revaluation increase (decrease), other
0
intangible assets
Impairment loss recognised in other
comprehensive income, other intangible 0 0
assets
Reversal of impairment loss recognised in
other comprehensive income, other 0 0
intangible assets
Increase (decrease) through
transfers and other changes, other
intangible assets [Abstract]
Increase (decrease) through
0 0 0
transfers, other intangible assets
Increase (decrease) through other
0 0 0
changes
Total increase (decrease) through
transfers and other changes, Other 0 0 0
intangible assets
Disposals and retirements, other
intangible assets [Abstract]
Disposals 0 0 0
Retirements 0 0 0
Total Disposals and retirements,
0 0 0
Other intangible assets
Decrease through classified as held for
0 0 0
sale
Decrease through loss of control of
0 0 0
subsidiary
Total increase (decrease) in Other
5 2 1
intangible assets
Other intangible assets at end of period 23 18 21 19

75
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Disclosure of detailed information about other intangible assets [Table] ..(3)

Unless otherwise specified, all monetary values are in Millions of INR
Classes of other intangible assets [Axis] Company other intangible assets [Member]
Internally
generated and
other than
Sub classes of other intangible assets [Axis] internally Internally generated intangible assets [Member]
generated
intangible assets
[Member]
Accumulated
Carrying amount accumulated amortization and impairment and amortization and
Carrying amount [Member]
gross carrying amount [Axis] impairment
[Member]
01/04/2020 01/04/2019
31/03/2019 to to 31/03/2019
31/03/2021 31/03/2020
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Additions other than through business
0 5
combinations
Acquisitions through business combinations 0 0
Increase (decrease) through net exchange
0 0
differences
Amortisation other intangible assets -2 -1
Impairment loss recognised in profit or
0 0
loss
Reversal of impairment loss recognised
0 0
in profit or loss
Revaluation increase (decrease), other
0 0
intangible assets
Impairment loss recognised in other
comprehensive income, other intangible 0 0
assets
Reversal of impairment loss recognised in
other comprehensive income, other 0 0
intangible assets
Increase (decrease) through
transfers and other changes, other
intangible assets [Abstract]
Increase (decrease) through
0 0
transfers, other intangible assets
Increase (decrease) through other
0 0
changes
Total increase (decrease) through
transfers and other changes, Other 0 0
intangible assets
Disposals and retirements, other
intangible assets [Abstract]
Disposals 0 0
Retirements 0 0
Total Disposals and retirements,
0 0
Other intangible assets
Decrease through classified as held for
0 0
sale
Decrease through loss of control of
0 0
subsidiary
Total increase (decrease) in Other
-2 4
intangible assets
Other intangible assets at end of period 18 2 4 0

76
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Disclosure of detailed information about other intangible assets [Table] ..(4)

Unless otherwise specified, all monetary values are in Millions of INR
Classes of other intangible assets [Axis] Company other intangible assets [Member]
Sub classes of other intangible assets [Axis] Internally generated intangible assets [Member]
Accumulated
Carrying amount accumulated amortization and impairment and amortization and
Gross carrying amount [Member]
gross carrying amount [Axis] impairment
[Member]
01/04/2020 01/04/2019 01/04/2020
to to 31/03/2019 to
31/03/2021 31/03/2020 31/03/2021
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Additions other than through business
0 5
combinations
Acquisitions through business combinations 0 0
Increase (decrease) through net exchange
0 0
differences
Amortisation other intangible assets 2
Impairment loss recognised in profit or
0
loss
Reversal of impairment loss recognised
0
in profit or loss
Revaluation increase (decrease), other
0 0
intangible assets
Impairment loss recognised in other
comprehensive income, other intangible 0
assets
Reversal of impairment loss recognised in
other comprehensive income, other 0
intangible assets
Increase (decrease) through
transfers and other changes, other
intangible assets [Abstract]
Increase (decrease) through
0 0 0
transfers, other intangible assets
Increase (decrease) through other
0 0 0
changes
Total increase (decrease) through
transfers and other changes, Other 0 0 0
intangible assets
Disposals and retirements, other
intangible assets [Abstract]
Disposals 0 0 0
Retirements 0 0 0
Total Disposals and retirements,
0 0 0
Other intangible assets
Decrease through classified as held for
0 0 0
sale
Decrease through loss of control of
0 0 0
subsidiary
Total increase (decrease) in Other
0 5 2
intangible assets
Other intangible assets at end of period 23 23 18 21

77
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Disclosure of detailed information about other intangible assets [Table] ..(5)

Unless otherwise specified, all monetary values are in Millions of INR
Company other intangible assets
Classes of other intangible assets [Axis] Computer software [Member]
[Member]
Internally generated intangible assets Internally generated intangible assets
Sub classes of other intangible assets [Axis]
[Member] [Member]
Carrying amount accumulated amortization and impairment and Accumulated amortization and
Carrying amount [Member]
gross carrying amount [Axis] impairment [Member]
01/04/2019 01/04/2020 01/04/2019
to 31/03/2019 to to
31/03/2020 31/03/2021 31/03/2020
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Additions other than through business
0 5
combinations
Acquisitions through business combinations 0 0
Increase (decrease) through net exchange
0 0
differences
Amortisation other intangible assets 1 -2 -1
Impairment loss recognised in profit or
0 0 0
loss
Reversal of impairment loss recognised
0 0 0
in profit or loss
Revaluation increase (decrease), other
0 0
intangible assets
Impairment loss recognised in other
comprehensive income, other intangible 0 0 0
assets
Reversal of impairment loss recognised in
other comprehensive income, other 0 0 0
intangible assets
Increase (decrease) through
transfers and other changes, other
intangible assets [Abstract]
Increase (decrease) through
0 0 0
transfers, other intangible assets
Increase (decrease) through other
0 0 0
changes
Total increase (decrease) through
transfers and other changes, Other 0 0 0
intangible assets
Disposals and retirements, other
intangible assets [Abstract]
Disposals 0 0 0
Retirements 0 0 0
Total Disposals and retirements,
0 0 0
Other intangible assets
Decrease through classified as held for
0 0 0
sale
Decrease through loss of control of
0 0 0
subsidiary
Total increase (decrease) in Other
1 -2 4
intangible assets
Other intangible assets at end of period 19 18 2 4

78
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Disclosure of detailed information about other intangible assets [Table] ..(6)

Unless otherwise specified, all monetary values are in Millions of INR
Classes of other intangible assets [Axis] Computer software [Member]
Sub classes of other intangible assets [Axis] Internally generated intangible assets [Member]
Carrying amount accumulated amortization and impairment and Carrying amount
Gross carrying amount [Member]
gross carrying amount [Axis] [Member]
01/04/2020 01/04/2019
31/03/2019 to to 31/03/2019
31/03/2021 31/03/2020
Disclosure of detailed information about other
intangible assets [Abstract]
Disclosure of detailed information about other
intangible assets [Line items]
Reconciliation of changes in other intangible
assets [Abstract]
Changes in Other intangible assets [Abstract]
Additions other than through business
0 5
combinations
Acquisitions through business combinations 0 0
Increase (decrease) through net exchange
0 0
differences
Revaluation increase (decrease), other
0 0
intangible assets
Increase (decrease) through
transfers and other changes, other
intangible assets [Abstract]
Increase (decrease) through
0 0
transfers, other intangible assets
Increase (decrease) through other
0 0
changes
Total increase (decrease) through
transfers and other changes, Other 0 0
intangible assets
Disposals and retirements, other
intangible assets [Abstract]
Disposals 0 0
Retirements 0 0
Total Disposals and retirements,
0 0
Other intangible assets
Decrease through classified as held for
0 0
sale
Decrease through loss of control of
0 0
subsidiary
Total increase (decrease) in Other
0 5
intangible assets
Other intangible assets at end of period 0 23 23 18

79
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Disclosure of detailed information about other intangible assets [Table] ..(7)

Unless otherwise specified, all monetary values are in Millions of INR
Classes of other intangible assets [Axis] Computer software [Member]
Sub classes of other intangible assets [Axis] Internally generated intangible assets [Member]
Carrying amount accumulated amortization and impairment and gross carrying amount
Accumulated amortization and impairment [Member]
[Axis]
01/04/2020 01/04/2019
to to 31/03/2019
31/03/2021 31/03/2020
Disclosure of detailed information about other intangible assets
[Abstract]
Disclosure of detailed information about other intangible assets
[Line items]
Reconciliation of changes in other intangible assets [Abstract]
Changes in Other intangible assets [Abstract]
Amortisation other intangible assets 2 1
Impairment loss recognised in profit or loss 0 0
Reversal of impairment loss recognised in profit or loss 0 0
Impairment loss recognised in other comprehensive
0 0
income, other intangible assets
Reversal of impairment loss recognised in other
0 0
comprehensive income, other intangible assets
Increase (decrease) through transfers and other
changes, other intangible assets [Abstract]
Increase (decrease) through transfers, other intangible
0 0
assets
Increase (decrease) through other changes 0 0
Total increase (decrease) through transfers and
0 0
other changes, Other intangible assets
Disposals and retirements, other intangible assets
[Abstract]
Disposals 0 0
Retirements 0 0
Total Disposals and retirements, Other intangible assets 0 0
Decrease through classified as held for sale 0 0
Decrease through loss of control of subsidiary 0 0
Total increase (decrease) in Other intangible assets 2 1
Other intangible assets at end of period 21 19 18

Disclosure of additional information about other intangible assets [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Classes of other intangible assets [Axis] Computer software [Member]
Internally generated intangible assets
Sub classes of other intangible assets [Axis]
[Member]
01/04/2020 01/04/2019
to to
31/03/2021 31/03/2020
Disclosure of additional information about other intangible assets [Abstract]
Disclosure of additional information about other intangible assets [Line items]
Straight Line
Amortisation method, other intangible assets Method
Straight Line Method

Useful lives or amortisation rates, other intangible assets 1- 3 years 1- 3 years

Whether other intangible assets are stated at revalued amount No No

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

01/04/2020 01/04/2019
to to
31/03/2021 31/03/2020
Textual information (5)
Disclosure of other intangible assets [TextBlock] [See below]
Disclosure of detailed information about other intangible assets
[TextBlock]
Disclosure of intangible assets with indefinite useful life [TextBlock]
Whether there are intangible assets with indefinite useful life No No

80
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Textual information (5)

Disclosure of other intangible assets [Text Block]

5. Goodwill and other intangible assets

* The management has identified the Company as a whole as one CGU.

Key assumptions basis which the Company has based its determination of value in use includes:"

• Estimated cash flow of 5 years based on formal/ approved internal management budgets with extrapolation for the
remaining period, wherever the budgets were shorter than 5 year's period.

• The cash flow has been extrapolated for the next 22 years based on the estimated cash flows of initial 5 years.

• Terminal value arrived by extrapolating last forecasted year cash flow to perpetuity using long term growth rates. These
long-term growth rates take into consideration external macroeconomics sources of data.

• The discount rate used is based on the CGU’s weighted average cost of capital. The management also believes there is no
major change in environment where the CGU operates.

• Value in use is calculated using after tax assumptions. The use of after tax assumptions does not result in a value in use
that is materially different from the value in use that would result if the calculation was performed using before tax
assumptions.

List of key assumptions used in the value in use calculations for the CGU is as given below.

Assumptions For the year ended For the year ended

31-Mar-21 March 31, 2020

Long term growth rate 5% 5%

Discount rate 15.30% 17.30%

An analysis of the calculation’s sensitivity to a change in the key parameters (discount rate and long-term growth rate) based
on reasonably probable assumptions, did not identify any probable scenarios where the remaining CGU’s recoverable
amount would fall below its carrying amount.

[401000] Notes - Biological assets other than bearer plants

Unless otherwise specified, all monetary values are in Millions of INR
01/04/2020 01/04/2019
to to
31/03/2021 31/03/2020
Disclosure of biological assets, agriculture produce at point of
harvest and government grants related to biological assets
[TextBlock]
Depreciation method, biological assets other than bearer plants, at cost NA NA
Useful lives or depreciation rates, biological assets other than bearer
NA NA
plants, at cost

81
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

[611100] Notes - Financial instruments

Disclosure of financial liabilities [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Financial liabilities at amortised cost, Financial liabilities at fair value, class
Classes of financial liabilities [Axis]
class [Member] [Member]
Financial liabilities at fair value
Financial liabilities at amortised cost,
Categories of financial liabilities [Axis] through profit or loss, category
category [Member]
[Member]
31/03/2021 31/03/2020 31/03/2021 31/03/2020
Disclosure of financial liabilities [Abstract]
Disclosure of financial liabilities [Line items]
Financial liabilities 70,295 36,600 2 0
Financial liabilities, at fair value 70,295 36,600 2 0

Disclosure of financial liabilities [Table] ..(2)

Unless otherwise specified, all monetary values are in Millions of INR
Financial liabilities at fair value, class
Classes of financial liabilities [Axis]
[Member]
Financial liabilities at fair value
through profit or loss that meet
Categories of financial liabilities [Axis]
definition of held for trading, category
[Member]
31/03/2021 31/03/2020
Disclosure of financial liabilities [Abstract]
Disclosure of financial liabilities [Line items]
Financial liabilities 2 0
Financial liabilities, at fair value 2 0

Disclosure of financial assets [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Financial assets at amortised cost, class
Classes of financial assets [Axis] Trade receivables [Member]
[Member]
Financial assets at amortised cost, Financial assets at amortised cost,
Categories of financial assets [Axis]
category [Member] category [Member]
01/04/2020 01/04/2019
to to 31/03/2021 31/03/2020
31/03/2021 31/03/2020
Disclosure of financial assets [Abstract]
Disclosure of financial assets [Line items]
Financial assets 35,155 64,588 25,823 17,358
Financial assets, at fair value 35,155 64,588 25,823 17,358
Current financial Current financial
Description of other financial assets at
assets at amortised assets at amortised
amortised cost class cost cost
Current financial Current financial
Description of other financial assets at fair
assets at amortised assets at amortised
value class cost cost

82
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Disclosure of financial assets [Table] ..(2)

Unless otherwise specified, all monetary values are in Millions of INR
Other financial assets at amortised cost Other financial assets at amortised cost
Classes of financial assets [Axis]
class [Member] class 1 [Member]
Financial assets at amortised cost, Financial assets at amortised cost,
Categories of financial assets [Axis]
category [Member] category [Member]
01/04/2020 01/04/2019 01/04/2020 01/04/2019
to to to to
31/03/2021 31/03/2020 31/03/2021 31/03/2020
Disclosure of financial assets [Abstract]
Disclosure of financial assets [Line items]
Financial assets 9,332 47,230 9,332 47,230
Financial assets, at fair value 9,332 47,230 9,332 47,230
(ii) Cash and cash (ii) Cash and cash (ii) Cash and cash (ii) Cash and cash
equivalents 767 (iii) equivalents 12,046 equivalents 767 (iii) equivalents 12,046
Description of other financial assets at
Loans 3,593 (iv) (iii) Loans 30,682 Loans 3,593 (iv) (iii) Loans 30,682
amortised cost class Other financial (iv) Other financial Other financial (iv) Other financial
assets 4,972 assets 4,502 assets 4,972 assets 4,502
(ii) Cash and cash (ii) Cash and cash (ii) Cash and cash (ii) Cash and cash
equivalents 767 (iii) equivalents 12,046 equivalents 767 (iii) equivalents 12,046
Description of other financial assets at fair
Loans 3,593 (iv) (iii) Loans 30,682 Loans 3,593 (iv) (iii) Loans 30,682
value class Other financial (iv) Other financial Other financial (iv) Other financial
assets 4,972 assets 4,502 assets 4,972 assets 4,502

Disclosure of financial assets [Table] ..(3)

Unless otherwise specified, all monetary values are in Millions of INR
Financial assets at fair value, class
Classes of financial assets [Axis] Trading securities [Member]
[Member]
Financial assets at fair value through
Financial assets at fair value through
Categories of financial assets [Axis] profit or loss, mandatorily measured at
profit or loss, category [Member]
fair value, category [Member]
31/03/2021 31/03/2020 31/03/2021 31/03/2020
Disclosure of financial assets [Abstract]
Disclosure of financial assets [Line items]
Financial assets 1,562 404 1,562 357
Financial assets, at fair value 1,562 404 1,562 357

Disclosure of financial assets [Table] ..(4)

Unless otherwise specified, all monetary values are in Millions of INR
Classes of financial assets [Axis] Trading securities [Member] Derivatives [Member]
Financial assets at fair value through
Financial assets at fair value through
Categories of financial assets [Axis] profit or loss, mandatorily measured at
profit or loss, category [Member]
fair value, category [Member]
31/03/2021 31/03/2020 31/03/2021 31/03/2020
Disclosure of financial assets [Abstract]
Disclosure of financial assets [Line items]
Financial assets 1,562 357 0 46
Financial assets, at fair value 1,562 357 0 46

Disclosure of financial assets [Table] ..(5)

Unless otherwise specified, all monetary values are in Millions of INR
Classes of financial assets [Axis] Derivatives [Member] Option contract [Member]
Financial assets at fair value through
Financial assets at fair value through
Categories of financial assets [Axis] profit or loss, mandatorily measured at
profit or loss, category [Member]
fair value, category [Member]
31/03/2021 31/03/2020 31/03/2021 31/03/2020
Disclosure of financial assets [Abstract]
Disclosure of financial assets [Line items]
Financial assets 0 46 0 46
Financial assets, at fair value 0 46 0 46

83
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Disclosure of financial assets [Table] ..(6)

Unless otherwise specified, all monetary values are in Millions of INR
Classes of financial assets [Axis] Option contract [Member]
Financial assets at fair value through
Categories of financial assets [Axis] profit or loss, mandatorily measured at
fair value, category [Member]
31/03/2021 31/03/2020
Disclosure of financial assets [Abstract]
Disclosure of financial assets [Line items]
Financial assets 0 46
Financial assets, at fair value 0 46

[400400] Notes - Non-current investments

Details of non-current investments [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Classification of non-current investments [Axis] Column 1 Column 2
01/04/2020 01/04/2019 01/04/2020 01/04/2019
to to to to
31/03/2021 31/03/2020 31/03/2021 31/03/2020
Non-current investments [Abstract]
Disclosure of details of non-current investments
[Abstract]
Details of non-current investments [Line items]
Investment in other Investment in other Investment in other Investment in other
Type of non-current investments Indian companies Indian companies Indian companies Indian companies
equity instruments equity instruments equity instruments equity instruments
Class of non-current investments Trade investments Trade investments Trade investments Trade investments
Nature of non-current investments unquoted unquoted unquoted unquoted
Non-current investments 2,592 0 1,562 357
Arvind Youth
Name of body corporate in whom investment has Arvind Youth Brands 63 Ideas Infolabs 63 Ideas Infolabs
Brands Private
been made Private Limited Private Limited Private Limited
Limited

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

01/04/2020
to 31/03/2020
31/03/2021
Textual information (6)
Disclosure of notes on non-current investments explanatory [TextBlock] [See below]
Aggregate amount of quoted non-current investments 0 0
Market value of quoted non-current investments 0 0
Aggregate amount of unquoted non-current investments 4,154 357
Aggregate provision for diminution in value of non-current investments 0 0

84
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Textual information (6)

Disclosure of notes on non-current investments explanatory [Text Block]

6. Financial Assets

Non-Current Current

As at As at As at As at

March 31, March 31, March 31, March 31,

2021 2020 2021 2020

i) Investment in an associate (unquoted)

Arvind Youth Brands Private Limited * 2,592 - - -

1 equity share of Rs. 10 each and 58,95,852 CCPS of Rs. 100 each
(March 31, 2020: Nil)

ii) Other Investments (unquoted)

Investment carried at FVTOCI:

63 Ideas Infolabs Private Limited** 1,562 357 - -

3,956 (March 31, 2020: 1,175) CCCPS of Rs. 100 each

1,562 357 - -

* During the year ended March 31, 2021, the Company had acquired 100% Compulsorily Convertible Preference Shares and
0.00% Equity Shares of Arvind Youth Brands Private Limited which is engaged in the business of manufacturing, marketing
and distribution of fashion apparel and accessories under the brand ‘Flying Machine’ and other sub-brands of the brand
‘Flying Machine’, through offline and online distribution channels

** During the year ended March 31,2020, the Company has acquired 1.41% Cumulative Compulsorily Convertible
Preference Shares of 63 Ideas Infolabs Private Limited which is engaged in the business of wholesale trading in agricultural
produce and products through online and offline mediums in the nature of bulk distribution and providing services incidental
thereto through various channels and mediums. During the year ended March 31, 2021, the Company further acquired
3.04% Cumulative Compulsorily Convertible Preference Shares of the said company.

The following table illustrates the summarised information of the Company's investment in associate:

March 31, 2021 March 31, 2020

Share of (loss) of associate for the year :

Arvind Youth Brands Private Limited (8) -

85
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

(8) -

[611600] Notes - Non-current asset held for sale and discontinued operations
Unless otherwise specified, all monetary values are in Millions of INR
01/04/2020 01/04/2019
to to
31/03/2021 31/03/2020
Disclosure of non-current assets held for sale and discontinued operations
[TextBlock]
Net cash flows from (used in) operating activities, continuing
-41,477 -31,256
operations
Net cash flows from (used in) operating activities -41,477 -31,256
Net cash flows from (used in) investing activities, continuing
25,678 -1,039
operations
Net cash flows from (used in) investing activities 25,678 -1,039
Net cash flows from (used in) financing activities, continuing
4,520 44,154
operations
Net cash flows from (used in) financing activities 4,520 44,154

86
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

[400100] Notes - Equity share capital

Disclosure of classes of equity share capital [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Equity shares 1
Classes of equity share capital [Axis] Equity shares [Member]
[Member]
01/04/2020 01/04/2019 01/04/2020
to to 31/03/2019 to
31/03/2021 31/03/2020 31/03/2021
Disclosure of classes of equity share capital [Abstract]
Disclosure of classes of equity share capital [Line
items]
Equity shares of Re.
Type of share 1
Number of shares authorised [shares] 1,20,00,000 [shares] 1,00,00,000 [shares] 1,20,00,000
Value of shares authorised 12 10 12
Number of shares issued [shares] 97,89,111 [shares] 97,89,111 [shares] 97,89,111
Value of shares issued 9.789111 9.789111 9.789111
Number of shares subscribed and fully paid [shares] 97,89,111 [shares] 97,89,111 [shares] 97,89,111
Value of shares subscribed and fully paid 9.789111 9.789111 9.789111
Number of shares subscribed but not fully paid [shares] 0 [shares] 0 [shares] 0
Value of shares subscribed but not fully paid 0 0 0
Total number of shares subscribed [shares] 97,89,111 [shares] 97,89,111 [shares] 97,89,111
Total value of shares subscribed 9.789111 9.789111 9.789111
Value of shares paid-up [Abstract]
Number of shares paid-up [shares] 97,89,111 [shares] 97,89,111 [shares] 97,89,111
Value of shares called 9.789111 9.789111 9.789111
Value of shares paid-up 9.789111 9.789111 9.789111
Par value per share [INR/shares] 1
Amount per share called in case shares not fully
[INR/shares] 0
called
Reconciliation of number of shares outstanding
[Abstract]
Changes in number of shares outstanding
[Abstract]
Increase in number of shares outstanding
[Abstract]
Number of shares issued as rights [shares] 0 [shares] 12,80,164 [shares] 0
Total aggregate number of shares issued
[shares] 0 [shares] 12,80,164 [shares] 0
during period
Total increase (decrease) in number of
[shares] 0 [shares] 12,80,164 [shares] 0
shares outstanding
Number of shares outstanding at end of period [shares] 97,89,111 [shares] 97,89,111 [shares] 85,08,947 [shares] 97,89,111
Reconciliation of value of shares outstanding
[Abstract]
Changes in equity share capital [Abstract]
Increase in equity share capital during
period [Abstract]
Amount of rights issue during period 0 1.280164 0
Total aggregate amount of increase
0 1.280164 0
in equity share capital during period
Total increase (decrease) in share capital 0 1.280164 0
Equity share capital at end of period 9.789111 9.789111 8.508947 9.789111
Shares in company held by holding company or
ultimate holding company or by its subsidiaries
or associates [Abstract]
Shares in company held by holding company [shares] 97,89,110 [shares] 97,89,110 [shares] 97,89,110
Shares in company held by subsidiaries of its
[shares] 1 [shares] 1 [shares] 1
holding company
Total shares in company held by holding company
or ultimate holding company or by its [shares] 97,89,111 [shares] 97,89,111 [shares] 97,89,111
subsidiaries or associates
Details of application money received for
allotment of securities and due for refund and
interest accrued thereon [Abstract]
Application money received for allotment of
securities and due for refund and interest
accrued thereon [Abstract]

87
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Total application money received for

allotment of securities and due for refund 0 0
and interest accrued thereon
Equity shares of Re.
Type of share 1

Disclosure of classes of equity share capital [Table] ..(2)

Unless otherwise specified, all monetary values are in Millions of INR
Classes of equity share capital [Axis] Equity shares 1 [Member]
01/04/2019
to 31/03/2019
31/03/2020
Disclosure of classes of equity share capital [Abstract]
Disclosure of classes of equity share capital [Line items]
Equity shares of Re.
Type of share 1
Number of shares authorised [shares] 1,00,00,000
Value of shares authorised 10
Number of shares issued [shares] 97,89,111
Value of shares issued 9.789111
Number of shares subscribed and fully paid [shares] 97,89,111
Value of shares subscribed and fully paid 9.789111
Number of shares subscribed but not fully paid [shares] 0
Value of shares subscribed but not fully paid 0
Total number of shares subscribed [shares] 97,89,111
Total value of shares subscribed 9.789111
Value of shares paid-up [Abstract]
Number of shares paid-up [shares] 97,89,111
Value of shares called 9.789111
Value of shares paid-up 9.789111
Par value per share [INR/shares] 1
Amount per share called in case shares not fully called [INR/shares] 0
Reconciliation of number of shares outstanding [Abstract]
Changes in number of shares outstanding [Abstract]
Increase in number of shares outstanding [Abstract]
Number of shares issued as rights [shares] 12,80,164
Total aggregate number of shares issued during period [shares] 12,80,164
Total increase (decrease) in number of shares outstanding [shares] 12,80,164
Number of shares outstanding at end of period [shares] 97,89,111 [shares] 85,08,947
Reconciliation of value of shares outstanding [Abstract]
Changes in equity share capital [Abstract]
Increase in equity share capital during period [Abstract]
Amount of rights issue during period 1.280164
Total aggregate amount of increase in equity share capital during period 1.280164
Total increase (decrease) in share capital 1.280164
Equity share capital at end of period 9.789111 8.508947
Shares in company held by holding company or ultimate holding company or by its
subsidiaries or associates [Abstract]
Shares in company held by holding company [shares] 97,89,110
Shares in company held by subsidiaries of its holding company [shares] 1
Total shares in company held by holding company or ultimate holding company
[shares] 97,89,111
or by its subsidiaries or associates
Equity shares of Re.
Type of share 1

88
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Disclosure of shareholding more than five per cent in company [Table] ..(1)
Unless otherwise specified, all monetary values are in Millions of INR
Classes of equity share capital [Axis] Equity shares 1 [Member]
Name of shareholder [Axis] Name of shareholder [Member] Shareholder 1 [Member]
01/04/2020 01/04/2019 01/04/2020 01/04/2019
to to to to
31/03/2021 31/03/2020 31/03/2021 31/03/2020
Equity shares of Re. Equity shares of Re. Equity shares of Re. Equity shares of Re.
Type of share 1 1 1 1
Disclosure of shareholding more than five per cent in
company [Abstract]
Disclosure of shareholding more than five per cent
in company [LineItems]
Equity shares of Re. Equity shares of Re. Equity shares of Re. Equity shares of Re.
Type of share 1 1 1 1
Flipkart Private Flipkart Private
Name of shareholder Limited, Singapore Limited, Singapore
Country of incorporation or residence of
SINGAPORE SINGAPORE
shareholder
Number of shares held in company [shares] 97,89,110 [shares] 97,89,110
Percentage of shareholding in company 100.00% 100.00%

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

01/04/2020 01/04/2019
to to
31/03/2021 31/03/2020
Textual information (7)
Disclosure of notes on equity share capital explanatory [TextBlock] [See below]
Whether there are any shareholders holding more than five per cent
Yes Yes
shares in company

89
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Textual information (7)

Disclosure of notes on equity share capital explanatory [Text Block]

9. Share capital

As at As at

March 31, 2021 March 31, 2020

Authorized share capital

12,000,000 (March 31, 2020: 10,000,000) equity shares of Re.1 each 12 10

Issued, subscribed and fully paid-up shares capital

9,789,111 (March 31, 2020: 9,789,111) equity shares of Re.1 each 10 10

Total issued, subscribed and fully paid-up shares 10 10

a. Reconciliation of shares outstanding at the beginning and at the end of the reporting year

As at Mach 31, 2021 As at March 31, 2020

No. of shares Amount No. of shares Amount

Equity shares of Re. 1 each fully paid up

At the beginning of the year 97,89,111 10 85,08,947 9

Issued during the year - - 12,80,164 1

Outstanding at the end of the year 97,89,111 10 97,89,111 10

b. Terms and rights attached to equity shares

The Company has only one class of equity share having par value of Re. 1 per share. Each holder of equity share is entitled
to one vote per share. The Company declares and pays dividend in Indian Rupees. In the event of liquidation of the
Company, the holders of equity shares will be entitled to receive remaining assets of the Company, after distribution of all
preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

c. Details of shareholders holding more than 5% shares in the Company

As at Mach 31, As at March 31,

2021 2020

% %
No. of shares No. of shares
holding holding

90
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Equity shares of Re. 1 each fully paid up

Flipkart Private Limited, Singapore, the holding

97,89,110 99.99% 97,89,110 99.99%
company

As per the records of the Company, including its register of shareholders / members and other declarations received from the
shareholders regarding beneficial interest, the above shareholding represents both legal and beneficial ownership of shares.

d. Shares held by holding company and / or their subsidiaries / associates

As at As at

March 31, 2021 March 31, 2020

Flipkart Private Limited, Singapore (the holding company)

9,789,110 (March 31, 2020: 9,789,110) equity shares of Re. 1 each 97,89,110 97,89,110

Flipkart Marketplace Private Limited, Singapore (fellow subsidiary)

1 (March 31, 2020: Re. 1) equity share of Re. 1 each 1 1

[400300] Notes - Borrowings

Classification of borrowings [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Classification based on current non-current [Axis] Current [Member]
Working capital loans from banks
Classification of borrowings [Axis] Borrowings [Member]
[Member]
Subclassification of borrowings [Axis] Unsecured borrowings [Member] Unsecured borrowings [Member]
31/03/2021 31/03/2020 31/03/2021 31/03/2020
Borrowings notes [Abstract]
Details of borrowings [Abstract]
Details of borrowings [Line items]
Borrowings 7,097 1,649 0 180
Details on loans guaranteed [Abstract]
Aggregate amount of loans guaranteed by
0 0 0 0
directors
Aggregate amount of loans guaranteed by
0 0 0 0
others
Details on defaults on borrowings [Abstract]
Outstanding amount of continuing default
0 0 0 0
principal
Outstanding amount of continuing default
0 0 0 0
interest

91
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Classification of borrowings [Table] ..(2)

Unless otherwise specified, all monetary values are in Millions of INR
Classification based on current non-current [Axis] Current [Member]
Classification of borrowings [Axis] Intercorporate borrowings [Member]
Subclassification of borrowings [Axis] Unsecured borrowings [Member]
31/03/2021 31/03/2020
Borrowings notes [Abstract]
Details of borrowings [Abstract]
Details of borrowings [Line items]
Borrowings 7,097 1,469
Details on loans guaranteed [Abstract]
Aggregate amount of loans guaranteed by directors 0 0
Aggregate amount of loans guaranteed by others 0 0
Details on defaults on borrowings [Abstract]
Outstanding amount of continuing default principal 0 0
Outstanding amount of continuing default interest 0 0

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

01/04/2020
to
31/03/2021
Textual information (8)
Disclosure of notes on borrowings explanatory [TextBlock] [See below]

92
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Textual information (8)

Disclosure of notes on borrowings explanatory [Text Block]

12. Financial liabilities

(i) Borrowings Current

As at As at

March 31, 2021 March 31, 2020

Unsecured

Loan from related parties* (refer note 21) 7,097 1,469

Working capital loan - 180

Total 7,097 1,649

* Loans from related party is unsecured loan and is repayable on demand. The interest rate for this obligation is fixed at 8%
per annum (11.25% per annum till October'20).

Changes in other financial liabilities arising from cash and non-cash changes:

Particulars April 1, 2020 Cash flows Non-cash changes March 31, 2021

Unsecured borrowings 1,649 5,448 - 7,097

Total 1,649 5,448 - 7,097

Particulars April 1, 2019 Cash flows Non-cash changes March 31, 2020

Unsecured borrowings 1,578 71 - 1,649

Total 1,578 71 - 1,649

93
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

[612700] Notes - Income taxes

Unless otherwise specified, all monetary values are in Millions of INR
01/04/2020 01/04/2019
to to
31/03/2021 31/03/2020
Textual information (9)
Disclosure of income tax [TextBlock] [See below]
Major components of tax expense (income) [Abstract]
Current tax expense (income) and adjustments for current tax of prior
periods [Abstract]
Current tax expense (income) -6,155 -7,929
Total current tax expense (income) and adjustments for current tax
-6,155 -7,929
of prior periods
Deferred tax expense (income) relating to origination and reversal of
15 157
temporary differences
Other components of deferred tax expense (income) 6,140 7,772
Total tax expense (income) 0 0
Reconciliation of accounting profit multiplied by applicable tax rates
[Abstract]
Accounting profit -24,456 -31,503
Tax expense (income) at applicable tax rate -6,155 -7,929
Tax effect of tax losses 6,140 7,772
Other tax effects for reconciliation between accounting profit and tax
15 157
expense (income)
Total tax expense (income) 0 0
Reconciliation of average effective tax rate and applicable tax rate
[Abstract]
Accounting profit -24,456 -31,503
Applicable tax rate 25.17% 25.17%
Total average effective tax rate 25.17% 25.17%

94
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Textual information (9)

Disclosure of income tax [Text Block]

10. Income tax

The Company has no taxable income for the financial years March 31, 2021 and 2020 and accordingly, no provision for
taxation has been made.

a) Reconciliation of tax expenses and accounting loss

March 31, 2021 March 31, 2020

Accounting losses before taxes (24,456) (31,503)

At India's statutory income tax rate of 25.17% (March 31, 2020: 25.17%) (6,155) (7,929)

Adjustments:

Deferred tax assets not recognized on tax losses 6,140 7,772

Deferred tax assets not recognised on temporary differences and others 15 157

- -

b) Deferred tax:

Deferred tax relates to the following:

As at As at

March 31, 2021 March 31, 2020

Revaluations of current investments to fair value - 12

Provision for litigation cases 1 -

Others (1) (12)

Net Deferred tax asset/ (liability) - -

Note: Pending reasonable certainty and as a matter of prudence, deferred tax asset has been recognized to the extent of
deferred tax liability.

c) Reflected in the balance sheet as follows:

As at As at

95
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

March 31, 2021 March 31, 2020

Deferred tax assets 1 12

Deferred tax liabilities (1) (12)

Deferred tax assets / (liabilities), net - -

[611000] Notes - Exploration for and evaluation of mineral resources

Unless otherwise specified, all monetary values are in Millions of INR
01/04/2020 01/04/2019
to to
31/03/2021 31/03/2020
Disclosure of exploration and evaluation assets [TextBlock]
Whether there are any exploration and evaluation activities No No

[611900] Notes - Accounting for government grants and disclosure of government assistance
Unless otherwise specified, all monetary values are in Millions of INR
01/04/2020 01/04/2019
to to
31/03/2021 31/03/2020
Disclosure of accounting for government grants and disclosure of government
assistance [TextBlock]
Whether company has received any government grant or government assistance No No
Capital subsidies or grants received from government authorities 0 0
Revenue subsidies or grants received from government authorities 0 0

[401100] Notes - Subclassification and notes on liabilities and assets

Other current financial assets others [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Other current financial assets others [Axis] Column 1 Column 2
01/04/2020 01/04/2019 01/04/2020 01/04/2019
to to to to
31/03/2021 31/03/2020 31/03/2021 31/03/2020
Subclassification and notes on liabilities and assets
[Abstract]
Other current financial assets [Abstract]
Other current financial assets others 4 1,273 0 500
Other current financial assets others [Abstract]
Other current financial assets others [Line
items]
Non-bank Non-bank
Bank deposits*The Bank deposits*The
deposits*The deposits*The
weighted average weighted average
weighted average weighted average
effective interest rate effective interest
Description other current financial assets effective interest rate effective interest
for term deposits as rate for term
others for term deposits as rate for term
at March 31, 2021 for deposits as at
at March 31, 2021 for deposits as at
the Company was March 31, 2020:
the Company was March 31, 2020:
3.24% per annum. 6.65% per annum
3.24% per annum. 6.65% per annum
Other current financial assets others 4 1,273 0 500

96
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Other current financial assets others [Table] ..(2)

Unless otherwise specified, all monetary values are in Millions of INR
Other current financial assets others [Axis] Column 3 Column 4
01/04/2020 01/04/2019 01/04/2020 01/04/2019
to to to to
31/03/2021 31/03/2020 31/03/2021 31/03/2020
Subclassification and notes on liabilities and assets
[Abstract]
Other current financial assets [Abstract]
Other current financial assets others 66 66 2,895 1,672
Other current financial assets others [Abstract]
Other current financial assets others [Line
items]
Restricted
Restricted
cash**Represents Interest
cash**Represents
fixed deposits accrued*** Interest accrued***
fixed deposits
amounting to Rs. Includes Includes receivables
Description other current financial assets amounting to March
66 given as receivables from from related parties
others 31, 2020: Rs. 66 given
collateral against related parties Rs. March 31, 2020: Rs.
as collateral against
bank guarantees 2895 (refer Note 1672 (refer Note 21)
bank guarantees and
and letter of 21)
letter of credit.
credit.
Other current financial assets others 66 66 2,895 1,672

Other current financial assets others [Table] ..(3)

Unless otherwise specified, all monetary values are in Millions of INR
Other current financial assets others [Axis] Column 5 Column 6
01/04/2020 01/04/2019 01/04/2020 01/04/2019
to to to to
31/03/2021 31/03/2020 31/03/2021 31/03/2020
Subclassification and notes on liabilities and assets
[Abstract]
Other current financial assets [Abstract]
Other current financial assets others 0 46 1,436 732
Other current financial assets others [Abstract]
Other current financial assets others [Line
items]
Description other current financial assets
Derivative assets Derivative assets Other receivables Other receivables
others
Other current financial assets others 0 46 1,436 732

Other current financial assets others [Table] ..(4)

Unless otherwise specified, all monetary values are in Millions of INR
Other current financial assets others [Axis] Column 7 Column 8
01/04/2020 01/04/2019 01/04/2020 01/04/2019
to to to to
31/03/2021 31/03/2020 31/03/2021 31/03/2020
Subclassification and notes on liabilities and assets
[Abstract]
Other current financial assets [Abstract]
Other current financial assets others 36 16 -36 -16
Other current financial assets others [Abstract]
Other current financial assets others [Line
items]
Unsecured, credit Unsecured, credit Allowance for Allowance for
Description other current financial assets
impaired :Other impaired :Other impairment of other impairment of other
others receivables receivables receivables receivables
Other current financial assets others 36 16 -36 -16

97
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Subclassification of trade receivables [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Classification based on current non-current [Axis] Current [Member]
Classification of assets based on security
Classification of assets based on security [Axis] Unsecured considered good [Member]
[Member]
31/03/2021 31/03/2020 31/03/2021 31/03/2020
Subclassification and notes on liabilities and assets
[Abstract]
Disclosure of notes on trade receivables [Abstract]
Subclassification of trade receivables [Abstract]
Subclassification of trade receivables [Line
items]
Breakup of trade receivables [Abstract]
Trade receivables, gross 26,309 17,872 25,823 17,358
Allowance for bad and doubtful debts 486 514 0 0
Total trade receivables 25,823 17,358 25,823 17,358
Details of trade receivables due by
directors, other officers or others
[Abstract]
Trade receivables due by directors 0 0
Trade receivables due by other officers 0 0
Trade receivables due by others 0 0
Total trade receivables due by
0 0
directors, other officers or others
Details of trade receivables due by firms
or companies in which any director is
partner or director [Abstract]
Trade receivables due by firms in
0 0
which any director is partner
Trade receivables due by private
companies in which any director is 0 0
director
Trade receivables due by private
companies in which any director is 0 0
member
Total trade receivables due by
firms or companies in which any 0 0
director is partner or director

Subclassification of trade receivables [Table] ..(2)

Unless otherwise specified, all monetary values are in Millions of INR
Classification based on current non-current [Axis] Current [Member]
Classification of assets based on security [Axis] Doubtful [Member]
31/03/2021 31/03/2020
Subclassification and notes on liabilities and assets [Abstract]
Disclosure of notes on trade receivables [Abstract]
Subclassification of trade receivables [Abstract]
Subclassification of trade receivables [Line items]
Breakup of trade receivables [Abstract]
Trade receivables, gross 486 514
Allowance for bad and doubtful debts 486 514
Total trade receivables 0 0
Details of trade receivables due by directors, other officers or others
[Abstract]
Trade receivables due by directors 0 0
Trade receivables due by other officers 0 0
Trade receivables due by others 0 0
Total trade receivables due by directors, other officers or others 0 0
Details of trade receivables due by firms or companies in which any
director is partner or director [Abstract]
Trade receivables due by firms in which any director is partner 0 0
Trade receivables due by private companies in which any director is director 0 0
Trade receivables due by private companies in which any director is member 0 0
Total trade receivables due by firms or companies in which any director
0 0
is partner or director

98
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Disclosure of breakup of provisions [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Classification based on current non-current [Axis] Non-current [Member] Current [Member]
31/03/2021 31/03/2020 31/03/2021 31/03/2020
Subclassification and notes on liabilities and assets
[Abstract]
Provisions notes [Abstract]
Disclosure of breakup of provisions [Abstract]
Disclosure of breakup of provisions [Line items]
Provisions [Abstract]
Provisions for employee benefits
[Abstract]
Provision leave encashment 130 111
Provision other employee related
125 112 16 14
liabilities
Total provisions for employee benefits 125 112 146 125
CSR expenditure provision 0 0 0 0
Total provisions 125 112 146 125

Details of advances [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Classification based on current non-current [Axis] Non-current [Member]
Classification of advances [Axis] Advances [Member] Other Advances [Member]
Classification of assets based on security [Axis] Unsecured considered good [Member] Unsecured considered good [Member]
31/03/2021 31/03/2020 31/03/2021 31/03/2020
Subclassification and notes on liabilities and assets
[Abstract]
Disclosure of notes on advances [Abstract]
Disclosure of advances [Abstract]
Disclosure of advances [Line items]
Advances 274 117 274 117
Details of advance due by directors other
officers or others [Abstract]
Advance due by directors 0 0 0 0
Advance due by other officers 0 0 0 0
Advance due by others 0 0 0 0
Total advance due by directors other
0 0 0 0
officers or others
Details of advance due by firms or
companies in which any director
is partner or director [Abstract]
Advance due by firms in which any
0 0 0 0
director is partner
Advance due by private companies in
0 0 0 0
which any director is director
Advance due by private companies in
0 0 0 0
which any director is member
Total advance due by firms or
companies in which any director 0 0 0 0
is partner or director

99
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Details of advances [Table] ..(2)

Unless otherwise specified, all monetary values are in Millions of INR
Classification based on current non-current [Axis] Non-current [Member]
Classification of advances [Axis] Advance tax [Member] Advance income tax paid [Member]
Classification of assets based on security [Axis] Unsecured considered good [Member] Unsecured considered good [Member]
31/03/2021 31/03/2020 31/03/2021 31/03/2020
Subclassification and notes on liabilities and assets
[Abstract]
Disclosure of notes on advances [Abstract]
Disclosure of advances [Abstract]
Disclosure of advances [Line items]
Advances 274 117 274 117
Details of advance due by directors other
officers or others [Abstract]
Advance due by directors 0 0 0 0
Advance due by other officers 0 0 0 0
Advance due by others 0 0 0 0
Total advance due by directors other
0 0 0 0
officers or others
Details of advance due by firms or
companies in which any director
is partner or director [Abstract]
Advance due by firms in which any
0 0 0 0
director is partner
Advance due by private companies in
0 0 0 0
which any director is director
Advance due by private companies in
0 0 0 0
which any director is member
Total advance due by firms or
companies in which any director 0 0 0 0
is partner or director

Details of advances [Table] ..(3)

Unless otherwise specified, all monetary values are in Millions of INR
Classification based on current non-current [Axis] Current [Member]
Classification of advances [Axis] Advances [Member] Advances given suppliers [Member]
Classification of assets based on security [Axis] Unsecured considered good [Member] Unsecured considered good [Member]
31/03/2021 31/03/2020 31/03/2021 31/03/2020
Subclassification and notes on liabilities and assets
[Abstract]
Disclosure of notes on advances [Abstract]
Disclosure of advances [Abstract]
Disclosure of advances [Line items]
Advances 27,433 18,011 720 550
Details of advance due by directors other
officers or others [Abstract]
Advance due by directors 0 0 0 0
Advance due by other officers 0 0 0 0
Advance due by others 0 0 0 0
Total advance due by directors other
0 0 0 0
officers or others
Details of advance due by firms or
companies in which any director
is partner or director [Abstract]
Advance due by firms in which any
0 0 0 0
director is partner
Advance due by private companies in
0 0 0 0
which any director is director
Advance due by private companies in
0 0 0 0
which any director is member
Total advance due by firms or
companies in which any director 0 0 0 0
is partner or director

100
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Details of advances [Table] ..(4)

Unless otherwise specified, all monetary values are in Millions of INR
Classification based on current non-current [Axis] Current [Member]
Classification of advances [Axis] Other Advances [Member] Prepaid expenses [Member]
Classification of assets based on security [Axis] Unsecured considered good [Member] Unsecured considered good [Member]
31/03/2021 31/03/2020 31/03/2021 31/03/2020
Subclassification and notes on liabilities and assets
[Abstract]
Disclosure of notes on advances [Abstract]
Disclosure of advances [Abstract]
Disclosure of advances [Line items]
Advances 26,713 17,461 8 7
Details of advance due by directors other
officers or others [Abstract]
Advance due by directors 0 0 0 0
Advance due by other officers 0 0 0 0
Advance due by others 0 0 0 0
Total advance due by directors other
0 0 0 0
officers or others
Details of advance due by firms or
companies in which any director
is partner or director [Abstract]
Advance due by firms in which any
0 0 0 0
director is partner
Advance due by private companies in
0 0 0 0
which any director is director
Advance due by private companies in
0 0 0 0
which any director is member
Total advance due by firms or
companies in which any director 0 0 0 0
is partner or director

Details of advances [Table] ..(5)

Unless otherwise specified, all monetary values are in Millions of INR
Classification based on current non-current [Axis] Current [Member]
Deposits with statutory authorities
Classification of advances [Axis] Other advances, others [Member]
[Member]
Classification of assets based on security [Axis] Unsecured considered good [Member] Unsecured considered good [Member]
31/03/2021 31/03/2020 31/03/2021 31/03/2020
Subclassification and notes on liabilities and assets
[Abstract]
Disclosure of notes on advances [Abstract]
Disclosure of advances [Abstract]
Disclosure of advances [Line items]
Advances 26,697 17,452 8 2
Details of advance due by directors other
officers or others [Abstract]
Advance due by directors 0 0 0 0
Advance due by other officers 0 0 0 0
Advance due by others 0 0 0 0
Total advance due by directors other
0 0 0 0
officers or others
Details of advance due by firms or
companies in which any director
is partner or director [Abstract]
Advance due by firms in which any
0 0 0 0
director is partner
Advance due by private companies in
0 0 0 0
which any director is director
Advance due by private companies in
0 0 0 0
which any director is member
Total advance due by firms or
companies in which any director 0 0 0 0
is partner or director

101
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Other current liabilities, others [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Other current liabilities, others [Axis] Column 1
01/04/2020 01/04/2019
to to
31/03/2021 31/03/2020
Subclassification and notes on liabilities and assets [Abstract]
Disclosure of other current liabilities notes [Abstract]
Other current liabilities [Abstract]
Other current liabilities, others 351 171
Other current liabilities, others [Abstract]
Other current liabilities, others [Line items]
Description of other current liabilities, others Refund liabilities Refund liabilities
Other current liabilities, others 351 171

Other current financial liabilities, others [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Other current financial liabilities, others [Axis] Column 1 Column 2
01/04/2020 01/04/2019 01/04/2020 01/04/2019
to to to to
31/03/2021 31/03/2020 31/03/2021 31/03/2020
Subclassification and notes on liabilities and assets
[Abstract]
Disclosure of other current financial liabilities
notes [Abstract]
Other current financial liabilities [Abstract]
Other current financial liabilities, others 2 1 55 21
Other current financial liabilities, others
[Abstract]
Other current financial liabilities, others
[Line items]
Description of other current financial Payables for capital Payables for capital
Other liabilities Other liabilities
liabilities, others expenditure expenditure
Other current financial liabilities,
2 1 55 21
others

Details of loans [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Classification based on current non-current [Axis] Current [Member]
Classification of loans [Axis] Loans [Member]
Classification of assets based on security [Axis] Unsecured considered good [Member] Doubtful [Member]
31/03/2021 31/03/2020 31/03/2021 31/03/2020
Subclassification and notes on liabilities and assets
[Abstract]
Loans notes [Abstract]
Disclosure of loans [Abstract]
Details of loans [Line items]
Loans , gross 3,593 30,682 19 19
Allowance for bad and doubtful loans 0 0 19 19
Total loans 3,593 30,682 0 0
Details of loans due by directors, other
officers or others [Abstract]
Loans due by directors 0 0 0 0
Loans due by other officers 0 0 0 0
Loans due by others 0 0 0 0
Total loans due by directors, other
0 0 0 0
officers or others
Details of loans due by firms or
companies in which any director
is partner or director [Abstract]
Loans due by firms in which any director
0 0 0 0
is partner
Loans due by private companies in
0 0 0 0
which any director is director
Loans due by private companies in
0 0 0 0
which any director is member
Total loans due by firms or
companies in which any director 0 0 0 0
is partner or director

102
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Details of loans [Table] ..(2)

Unless otherwise specified, all monetary values are in Millions of INR
Classification based on current non-current [Axis] Current [Member]
Classification of loans [Axis] Security deposits [Member]
Classification of assets based on security [Axis] Unsecured considered good [Member] Doubtful [Member]
31/03/2021 31/03/2020 31/03/2021 31/03/2020
Subclassification and notes on liabilities and assets
[Abstract]
Loans notes [Abstract]
Disclosure of loans [Abstract]
Details of loans [Line items]
Loans , gross 6 7 19 19
Allowance for bad and doubtful loans 0 0 19 19
Total loans 6 7 0 0
Details of loans due by directors, other
officers or others [Abstract]
Loans due by directors 0 0 0 0
Loans due by other officers 0 0 0 0
Loans due by others 0 0 0 0
Total loans due by directors, other
0 0 0 0
officers or others
Details of loans due by firms or
companies in which any director
is partner or director [Abstract]
Loans due by firms in which any director
0 0 0 0
is partner
Loans due by private companies in
0 0 0 0
which any director is director
Loans due by private companies in
0 0 0 0
which any director is member
Total loans due by firms or
companies in which any director 0 0 0 0
is partner or director

Details of loans [Table] ..(3)

Unless otherwise specified, all monetary values are in Millions of INR
Classification based on current non-current [Axis] Current [Member]
Loans given other related parties
Classification of loans [Axis] Loans to related parties [Member]
[Member]
Classification of assets based on security [Axis] Unsecured considered good [Member] Unsecured considered good [Member]
31/03/2021 31/03/2020 31/03/2021 31/03/2020
Subclassification and notes on liabilities and assets
[Abstract]
Loans notes [Abstract]
Disclosure of loans [Abstract]
Details of loans [Line items]
Loans , gross 3,587 30,675 3,587 30,675
Allowance for bad and doubtful loans 0 0 0 0
Total loans 3,587 30,675 3,587 30,675
Details of loans due by directors, other
officers or others [Abstract]
Loans due by directors 0 0 0 0
Loans due by other officers 0 0 0 0
Loans due by others 0 0 0 0
Total loans due by directors, other
0 0 0 0
officers or others
Details of loans due by firms or
companies in which any director
is partner or director [Abstract]
Loans due by firms in which any director
0 0 0 0
is partner
Loans due by private companies in
0 0 0 0
which any director is director
Loans due by private companies in
0 0 0 0
which any director is member
Total loans due by firms or
companies in which any director 0 0 0 0
is partner or director

103
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Classification of inventories [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Classification of inventories [Axis] Company inventories [Member] Stock-in-trade [Member]
01/04/2020 01/04/2019 01/04/2020 01/04/2019
to to to to
31/03/2021 31/03/2020 31/03/2021 31/03/2020
Subclassification and notes on liabilities and assets
[Abstract]
Inventories notes [Abstract]
Classification of inventories [Abstract]
Classification of inventories [Line items]
Inventories 55,633 29,636 55,633 29,636
Goods in transit 757 426 757 426
valued at lower of valued at lower of valued at lower of valued at lower of
Mode of valuation cost and net cost and net cost and net cost and net
realizable value realizable value realizable value realizable value

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

01/04/2020 01/04/2019
to to
31/03/2021 31/03/2020
Disclosure of subclassification and notes on liabilities and assets
explanatory [TextBlock]
Textual information (10)
Disclosure of notes on trade receivables explanatory [TextBlock] [See below]
Textual information (11)
Disclosure of notes on loans explanatory [TextBlock] [See below]
Advances, non-current 274 117
Total other non-current assets 274 117
Textual information (12)
Disclosure of inventories Explanatory [TextBlock] [See below]
Textual information (13)
Disclosure of notes on cash and bank balances explanatory [TextBlock] [See below]
Fixed deposits with banks 0 0
Other deposits with banks 0 11,870
Other balances with banks 767 176
Total balance with banks 767 12,046
Cash on hand 0 0
Total cash and cash equivalents 767 12,046
Total cash and bank balances 767 12,046
Total balances held with banks to extent held as
margin money or security against borrowings, 0 0
guarantees or other commitments
Bank deposits with more than 12 months maturity 0 0
Unbilled revenue 571 213
Total other current financial assets 4,972 4,502
Textual information (14)
Disclosure of notes on other current assets explanatory [TextBlock] [See below]
Advances, current 27,433 18,011
Total other current assets 27,433 18,011
Textual information (15)
Disclosure of notes on provisions explanatory [TextBlock] [See below]
Interest accrued on borrowings 288 475
Interest accrued on public deposits 0 0
Interest accrued others 0 0
Unpaid dividends 0 0
Unpaid matured deposits and interest accrued thereon 0 0
Unpaid matured debentures and interest accrued thereon 0 0
Debentures claimed but not paid 0 0
Public deposit payable, current 0 0
Derivative liabilities 2 0
Total other current financial liabilities 347 497
Advance received from customers 63 5
Total other advance 63 5
Taxes payable other tax 1,612 1,288
Current liabilities portion of share application money pending
0 0
allotment
Total other payables, current 1,612 1,288
Total other current liabilities 2,026 1,464

104
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Textual information (10)

Disclosure of notes on trade receivables explanatory [Text Block]

(iii) Trade receivables

As at As at

March 31, 2021 March 31, 2020

Unsecured, considered good 25,823 17,358

Unsecured, credit impaired 486 514

26,309 17,872

Allowance for impairment of trade receivables (486) (514)

25,823 17,358

Total 25,823 17,358

No trade or other receivable are due from directors or other officers of the Company either severally or jointly with any other
person. Nor any trade or other receivable are due from firms or private companies respectively in which any director is a
partner, a director or a member.

Trade receivables are non-interest bearing and are generally on 30 to 60 days' term. They are recognised at their original
invoice amounts which represent their fair values on initial recognition.

The Company has recognised an allowance for impairment of Rs. Nil (March 31, 2020: Rs. 22) on trade receivables for the
year ended March 31, 2021.

105
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Textual information (11)

Disclosure of notes on loans explanatory [Text Block]

(v) Loans

Current

As at As at

March 31, 2021 March 31, 2020

Security deposits

Unsecured, considered good 6 7

Unsecured, credit impaired 19 19

25 26

Allowance for impairment of security deposits (19) (19)

(A) 6 7

Loan to related parties*

Unsecured, considered good (refer note 21) 3,587 30,675

(B) 3,587 30,675

Total (A+B) 3,593 30,682

*Loans have been given for general business purposes and is repayable on demand.

106
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Textual information (12)

Disclosure of inventories Explanatory [Text Block]

8. Inventories (valued at lower of cost and net realizable value)

As at As at

March 31, 2021 March 31, 2020

Traded goods include goods in transit Rs. 757 (March 31, 2020: Rs. 426) 55,633 29,636

Total 55,633 29,636

During the year ended March 31, 2021, Rs. 3,876 (March 31, 2020: Rs 1,185) was recognized as an expense to write down
inventories to net realizable value and provision for slow moving and non-moving inventory.

Right to recover returned goods as at March 31, 2021 is Rs. 351 (March 31, 2020: Rs. 171)

Textual information (13)

Disclosure of notes on cash and bank balances explanatory [Text Block]

(iv) Cash and cash equivalents

As at As at

March 31, 2021 March 31, 2020

Balances with banks in current accounts 767 176

Short term deposits* - 11,870

Total 767 12,046

Cash and cash equivalents as per IND AS 7 (Statement of cash flow) 767 12,046

* The weighted average effective interest rate for short term deposits as at March 31, 2021 for the Company was 3.24% per
annum (March 31, 2020: 6.65% per annum).

* The deposits with bank comprise short term deposits, which can be withdrawn at any time with prior notice (ranging from
0-7 days) without any penalty on the principal and accordingly considered as cash and cash equivalents for cash flow
purposes.

107
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Textual information (14)

Disclosure of notes on other current assets explanatory [Text Block]

7. Other assets

Non-Current Current

As at As at As at As at

March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020

Capital advances

Unsecured, considered good 0 0 - -

Unsecured, credit impaired 5 5 - -

5 5 - -

Allowance for impairment of capital advances (5) (5) - -

(A) 0 0 - -

Advances to trade suppliers

Unsecured, considered good - - 720 550

Unsecured, credit impaired - - 335 244

- - 1,055 794

Allowance for impairment of advances - - (335) (244)

(B) - - 720 550

Others

Unsecured, considered good

Balances with statutory/government authorities - - 26,697 17,452

Prepaid expenses 0 0 8 7

Advance income tax (net) 274 117 - -

108
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Others - - 8 2

Unsecured, considered doubtful

Doubtful balances - - - -

274 117 26,713 17,461

Provision for doubtful balances - - - -

(C) 274 117 26,713 17,461

Total (A+B+C) 274 117 27,433 18,011

Textual information (15)

Disclosure of notes on provisions explanatory [Text Block]

11. Provisions

Non-Current Current

As at As at As at As at

March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020

Net defined benefit obligation (refer note 29) 125 112 16 14

Accrual for compensated absences - - 130 111

Total 125 112 146 125

109
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

[401200] Notes - Additional disclosures on balance sheet

Details of disclosures required under MSMED Act 2006 [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Micro small medium enterprises [Axis] Column 1
01/04/2020 01/04/2019
to to
31/03/2021 31/03/2020
Additional balance sheet notes [Abstract]
Details of disclosures required under MSMED Act 2006 [Abstract]
Details of disclosures required under MSMED Act 2006 [Line items]
Principal and interest due remaining unpaid [Abstract]
Principal due remaining unpaid 67 24
Interest due remaining unpaid 1 0
Total principal and interest due remaining unpaid 68 24
Amount of interest paid under MSMED Act 2006 859 184
Amount of payments made to supplier beyond due date during year 0 0
Amount of interest due and payable for period 5 1
Amount of interest accrued and remaining unpaid at end of accounting year 6 1
Amount of further interest due and payable even in succeeding year 1 0
Maximum amount outstanding for period from micro small medium enterprises 0 0
Name supplier being micro small medium enterprises Various Various

110
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

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

01/04/2020 01/04/2019
to to
31/03/2021 31/03/2020
Textual information (16)
Disclosure of additional balance sheet notes explanatory [TextBlock] [See below]
Additional balance sheet notes [Abstract]
Contingent liabilities and commitments [Abstract]
Classification of contingent liabilities [Abstract]
Guarantees 462 264
Total contingent liabilities 462 264
Classification of commitments [Abstract]
Estimated amount of contracts remaining to be executed on
0 13
capital account and not provided for
Total commitments 0 13
Total contingent liabilities and commitments 462 277
Details regarding dividends [Abstract]
Amount of dividends proposed to be distributed to equity shareholders 0 0
Amount of per share dividend proposed to be distributed to equity
[INR/shares] 0 [INR/shares] 0
shareholders
Details of disclosures required under MSMED Act 2006 [Abstract]
Principal and interest due remaining unpaid [Abstract]
Details of deposits [Abstract]
Deposits accepted or renewed during period 0 0
Deposits matured and claimed but not paid during period 0 0
Deposits matured and claimed but not paid 0 0
Deposits matured but not claimed 0 0
Interest on deposits accrued and due but not paid 0 0
Details of share application money received and paid [Abstract]
Share application money received during year 0 44,550
Share application money paid during year 2,600 0
Amount of share application money received back during year 0 0
Amount of share application money repaid returned back during year 0 0
Number of person share application money paid during year [pure] 1 [pure] 0
Number of person share application money received during year [pure] 0 [pure] 1
Number of person share application money paid as at end of year [pure] 0 [pure] 0
Number of person share application money received as at end of year [pure] 0 [pure] 0
Share application money received and due for refund 0 0
Details regarding cost records and cost audit[Abstract]
Net worth of company 0 0
Details of unclaimed liabilities [Abstract]
Unclaimed share application refund money 0 0
Unclaimed matured debentures 0 0
Unclaimed matured deposits 0 0
Interest unclaimed amount 0 0
Financial parameters balance sheet items [Abstract]
Investment in subsidiary companies 0 0
Investment in government companies 0 0
Amount due for transfer to investor education and protection fund
0 0
(IEPF)
Gross value of transactions with related parties (A) 889,642
319,288

Number of warrants converted into equity shares during period [pure] 0 [pure] 0
Number of warrants converted into preference shares during period [pure] 0 [pure] 0
Number of warrants converted into debentures during period [pure] 0 [pure] 0
Number of warrants issued during period (in foreign currency) [pure] 0 [pure] 0
Number of warrants issued during period (INR) [pure] 0 [pure] 0

Footnotes
(A) For details refer 21. Related party disclosures

111
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Textual information (16)

Disclosure of additional balance sheet notes explanatory [Text Block]

(ii) Trade and other payables

Current

As at As at

March 31, 2021 March 31, 2020

Trade and other payables* 62,853 34,454

Total 62,853 34,454

*Trade payables includes Rs. 15,175 (March 31, 2020: Rs. Nil) amount payables on account of supply chain financing by the
Company.

As at As at

Outstanding dues to Micro and Small Enterprises March March

31, 31,
2021 2020

(a) the principal amount remaining unpaid to any supplier at the end of the year 67 24

(b) the interest due thereon remaining unpaid to any supplier at the end of the year 1 0

(c) the amount of interest paid in terms of section 16 of the Micro and Small Enterprises Development
Act, 2006 (27 of 2006) (MSMED Act), along with the amount of the payment made to the supplier beyond 859 184
the appointed day

(d) the amount of interest due and payable for the period of delay in making payment (which has been
paid but beyond the appointed day during the year) but without adding the interest specified under the 5 1
MSMED Act

(e) the amount of interest accrued and remaining unpaid at the end of the year 6 1

(f) the amount of interest remaining due and payable even in the succeeding years, for the purpose of
1 -
disallowance of a deductible expenditure under section 23 of the MSMED Act

Onerous contracts

The Company has estimated a provision of Rs. Nil (March 31, 2020: Rs. 131) towards certain onerous contract.

As at As at
March 31, 2021 March 31, 2020

112
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Opening balance 131 -

Utilised during the year (131) (81)

Addition during the year - 212

Total provision on onerous contracts - 131

22. Contingent liabilities and commitments

As at As at

March 31, March 31,

2021 2020

Bank guarantee 462 264

Estimated amount of contracts (net of advances) remaining to be executed on capital account

- 13
and not provided for

Total 462 277

On November 06, 2018, CCI dismissed an information filed by the All India Online Vendors Association ('AIOVA') for alleged
violations by the Company. AIOVA challenged this CCI order before the National Company Law Appellate ('NCLAT'). On
March 4, 2020, NCLAT overturned the CCI order and directed the DG to start an investigation in the matter. The Company
preferred an appeal before the Supreme Court. On December 02, 2020, the Supreme Court stayed the operation of the
NCLAT Order implying a stay on the investigation. Pending ultimate outcome of this litigation, the Company does not believe
this matter will have any material impact on the Statement of Consolidated Ind AS Financial Statements.

2. In July 2021, the Directorate of Enforcement in India issued a show cause notice (SCN) to (i) Flipkart India Private Limited,
Bengaluru, India (FKI or Company) (ii) Flipkart Private Limited, Singapore (FKS) and to unrelated companies and individuals,
including certain current and former shareholders and directors of Flipkart. The SCN requests the recipients to show cause
as to why further proceedings under India's Foreign Direct Investment rules and regulations (the "Rules") should not be
initiated against them based on alleged violations during the period from 2009 to 2015. The SCN is an initial stage of
proceedings under the Rules which could, depending upon the conclusions at the end of the initial stage, lead to a hearing to
consider the merits of the allegations described in the SCN. If a hearing is initiated and if it is determined that violations of the
Rules occurred, the regulatory authority has the authority to impose monetary and/or non-monetary relief. Flipkart has begun
the process of responding to the SCN and, if the matter progresses to a consideration of the merits of the allegations
described in the SCN is initiated, Flipkart intends to defend against the allegations vigorously. Due to the fact that this
process is in an early stage, the Company is unable to predict whether the SCN will lead to a hearing on the merits or, if it
does, the final outcome of the resulting proceedings. The Company does not currently believe that this matter will have a
material adverse effect on its business, financial condition, results of operations or cash flows.

24. Investment in equity-accounted investees:

The Company has the following investments accounted under equity method as at March 31, 2021 and March 31, 2020:

As at

Particulars March 31, 2021

Carrying value of investment in associates 2,598

113
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Total 2,598

The below table provides summarised financial information of the Company's associate in aggregate. These associates are
considered to be individually immaterial and are accounted using the equity method.

As at

March 31, 2021

Non-current assets 349

Current assets 2,573

Total assets 2,922

Non-current liabilities (173)

Current liabilities (1,784)

Total liabilities (1,957)

Net assets 965

Company's Share- 23.75% (March 31, 2020- Nil%) 229

Amount identified as goodwill 2,369

Company's carrying amount of the investment 2,598

Revenue 2,680

Loss for the year (24)

Total comprehensive (loss) for the year (24)

Company’s share of net loss of equity-accounted investee -23.75% (March 31,2020:Nil%)

Particulars As at March 31, 2021

Net (loss) after tax (8)

Total comprehensive (loss) (8)

114
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

25. Capital Management

"The primary objective of the Company's capital management is to ensure that it maintains a strong credit rating and healthy
capital ratios in order to support its business and maximize shareholder value.

The Company monitors capital using a gearing ratio, which is net debt divided by total capital plus net debt. The Company
includes within net debt, loans and borrowings (excluding cash and cash equivalents), trade and other payables and other
financial liabilities, other current liabilities and employee benefit liability. Capital includes equity attributable to the owners of
the Company.

There has been no change in the capital management policy of the Company.

As at As at

March 31, 2021 March 31, 2020

Borrowings (refer note 12(i)) 7,097 1,649

Trade and other payables (refer note 12(ii)) 62,853 34,454

Other financial liabilities (refer note 12(iii)) 347 497

Other current liabilities (refer note 13) 2,026 1,464

Provision for employee benefits 146 125

Less: Cash and cash equivalents (refer note 6(iv)) (767) (12,046)

Total Debt 71,702 26,144

Equity attributable to the equity holders of the Company 50,078 74,432

Total capital 50,078 74,432

Capital and debt 1,21,780 1,00,575

Gearing ratio 58.88% 25.99%

26. Financial risk management objectives and policies

The Company is exposed to financial risks arising from its operations and the use of financial instruments. The key financial
risks include credit risk, liquidity risk, interest risk and foreign currency risk. The board of directors reviews and agrees
policies and procedures for the management of these risks.

The following sections provide details regarding the Company’s exposure to the above-mentioned financial risks and the
objectives, policies and processes for the management of these risks.

115
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

There has been no change to the Company’s exposure to these financial risks or the manner in which it manages and
measures the risks, except as disclosed in Note 25 (d) foreign currency risk section."

a) Credit risk

"Credit risk is the risk of loss that may arise on outstanding financial instruments should a counterparty default on its
obligations. The Company’s exposure to credit risk arises primarily from trade receivables and financial assets. For other
financial assets (including investment securities, loans, cash and cash equivalents), the Company minimize credit risk by
dealing exclusively with high credit rating counterparties.

The Company’s objective is to seek continual revenue growth while minimizing losses incurred due to increased credit risk
exposure. The Company trades only with recognized and creditworthy third parties. In addition, receivable balances are
monitored on an ongoing basis with the result that the Company’s exposure to bad debts is not significant.

The Company determines concentrations of credit risk by monitoring the economic and industry profile of its trade
receivables on an ongoing basis.

Financial assets that are neither past due nor impaired

Trade and other receivables that are neither past due nor impaired are with creditworthy debtors with good payment record
with the Company. Cash and cash equivalents and investment securities that are neither past due nor impaired are placed
with reputable financial institutions or companies with high credit ratings and no history of default.

Financial assets that are past due but not impaired

There is no other class of financial assets that is past due but not impaired except for trade receivables of Rs. 456 as of
March 31, 2021 and Rs. 3,509 as of March 31, 2020, respectively. Of the total receivables, Rs. 25,367 as of March 31, 2021
and Rs. 13,849 as of March 31, 2020, respectively, were neither past due nor impaired. The Company’s credit period
generally ranges from 30-60 days. The aging analysis of the receivables has been considered from the date the invoice falls
due. The age wise break up of receivables, net of allowances that are past due, is given below.

As at As at

March 31, 2021 March 31, 2020

Financial assets that are neither past due not impaired 25,367 13,849

Financial assets that are past due but not impaired

Past due 0 – 30 days 286 2,180

Past due 31 – 60 days 62 735

Past due 61 – 90 days 53 232

Past due over 90 days 55 362

Total - past due but not impaired 456 3,509

Financial assets that are impaired

116
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Information regarding financial assets that are impaired is disclosed in note 6(iii), trade receivables.

b) Liquidity risk

"Liquidity risk is the risk that the Company will encounter difficulty in meeting financial obligations due to shortage of funds.
The Company’s exposure to liquidity risk arises primarily from mismatches of the maturities of financial assets and liabilities.
The Company’s objective is to maintain a balance between continuity of funding and flexibility.

The Company assessed the concentration of risk with respect to refinancing its debt and concluded it to be low. Access to
sources of funding is sufficiently available.

Analysis of financial instruments by remaining contractual maturities

The table below summarizes the maturity profile of the Company’s financial liabilities at the end of the reporting period based
on contractual undiscounted repayment obligations.

As at March 31, 2021

One year or less One to five years Over five years Total

Financial liabilities

Borrowings (refer note 12(i)) 7,097 - - 7,097

Trade and other payables (refer note 12(ii)) 62,853 - - 62,853

Others (refer note 12(iii)) 347 - - 347

Total undiscounted financial liabilities 70,297 - - 70,297

As at March 31, 2020

One year or less One to five years Over five years Total

Financial liabilities

Borrowings (refer note 12(i)) 1,649 - - 1,649

Trade and other payables (refer note 12(ii)) 34,454 - - 34,454

Others (refer note 12(iii)) 497 - - 497

Total undiscounted financial liabilities 36,600 - - 36,601

c) Interest rate risk

117
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Interest rate risk is the risk that the fair value or future cash flows of the Company’s financial instruments will fluctuate
because of changes in market interest rates. The Company’s exposure to interest rate risk arises primarily from their loans
and borrowings, interest-bearing loans given to related parties and investments in debt securities. All of the Company’s
financial assets and liabilities are at fixed interest rates. The Company does not have any interest rate risk as at March 31,
2021 and March 31, 2020.

d) Foreign currency risk

The fluctuation in foreign currency exchange rates may have potential impact on the Statement of Profit and Loss and equity,
where any transaction references more than one currency or where assets/liabilities are denominated in a currency other
than the functional currency of the Company. The Company's primary transactional currency is Indian rupee and the foreign
currency transactions are restricted to secured borrowings and certain trade and other payables and other financial liabilities.

The Company has transactional currency exposures arising from purchases that are denominated in a currency other than
the functional currency, primarily USD. Approximately 1% of purchases are denominated in foreign currencies (USD) (March
31, 2020: 1% of purchases are denominated in foreign currencies (USD)).

Forward contracts amounting to Rs. 262 equivalent to USD 4 (March 31, 2020 Rs. 984 equivalent to USD 13) is outstanding
as at March 31, 2021.

As at March 31, 2021, 5% increase / decrease in the exchange rate of Indian rupee with US Dollars would result in
approximately Rs. 71 increase/decrease respectively in the loss before tax of the Company (March 31, 2020: Rs. 64
decrease /increase respectively in the loss before tax of the Company).

31. Segment Reporting

The Company primarily engages in facilitation and wholesale trading of mobile, television, laptop, tablet, mobile accessory,
footwear and clothing. The Company does not distinguish revenues, costs and expenses between different businesses in its
internal reporting, and reports costs and expenses by nature as a whole. The Board of Directors reviews the results when
making decisions about allocating resources and assessing performance of the Company as a whole and hence, the
Company has only one reportable segment. The Company operates and manages its business as a single segment mainly
through the sale of products. As the Company's long-lived assets are all located in India and most of the Company's
revenues are derived from India, no geographical information is presented.

32. Impact of COVID-19

The COVID-19 pandemic has resulted in nationwide lockdown from the last week of March 2020. There were also
restrictions of varying extent across larger part of the world, due to the COVID-19 pandemic.

Management has seen quantum shift in customers buying behaviour towards e-commerce due to COVID-19 as people
would avoid physical buying due to social distancing norms. Management believes that COVID-19 is unlikely to have any
significant adverse impact on its business operations.

The subsequent wave of COVID-19 had a more pervasive impact on the Indian economy and resulted in further lockdowns
affecting several business operations. However, the business of e-commerce industry was permitted to operate in most
jurisdictions without any significant disruptions and as a result, the Company’s business had no adverse impact.

33. The Company has established a comprehensive system of maintenance of information and documents as required by
the transfer pricing legislation under Sections 92-92F of the Income-tax Act, 1961. Since the law requires existence of such
information and documentation to be contemporaneous in nature, the Company is in the process of updating the
documentation for the international transactions entered into with the associated enterprises during the financial year and
expects such records to be in existence latest by November 30, 2021 as required under law. The Management is of the
opinion that its international transactions are at arm’s length so the aforesaid legislation will not have any impact on the
financial statements, particularly on the amount of tax expense and that of provision for taxation.

34. Previous year amounts in the Consolidated Ind-AS Financial Statements, including notes thereto, have been re-classified
wherever required to conform to the current year presentation / classification. These do not affect the previously reported net
loss or equity.

118
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

[611800] Notes - Revenue

Unless otherwise specified, all monetary values are in Millions of INR
01/04/2020
to
31/03/2021
Textual information (17)
Disclosure of revenue [TextBlock] [See below]

119
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Textual information (17)

Disclosure of revenue [Text Block]

14. Revenue from contracts with customers

For the year ended For the year ended

March 31, 2021 March 31, 2020

Sale of traded goods 4,29,398 3,41,705

Income from services 19 -

Total 4,29,417 3,41,705

14.1 Disaggregation of revenue information:

The Company primarily engages in trading of goods which is shown in below table:

Type of business operations For the year ended For the year ended

March 31, 2021 March 31, 2020

Sale of traded goods 4,29,398 3,41,705

Income from services 19 -

Total 4,29,417 3,41,705

Timing of revenue recognition For the year ended For the year ended

March 31, 2021 March 31, 2020

Control of goods and services transferred at a point in time 4,29,417 3,41,705

Total 4,29,417 3,41,705

14.2 Contract balances:

As at As at

March 31, 2021 March 31, 2020

120
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Trade receivables (refer note 6(iii)) 25,823 17,358

Unbilled revenue (refer note 6(vi)) 571 213

[612400] Notes - Service concession arrangements

Unless otherwise specified, all monetary values are in Millions of INR
01/04/2020 01/04/2019
to to
31/03/2021 31/03/2020
Disclosure of service concession arrangements [TextBlock]
Whether there are any service concession arrangments No No

[612000] Notes - Construction contracts

Unless otherwise specified, all monetary values are in Millions of INR
01/04/2020 01/04/2019
to to
31/03/2021 31/03/2020
Disclosure of notes on construction contracts [TextBlock]
Whether there are any construction contracts No No

[612600] Notes - Employee benefits

Disclosure of defined benefit plans [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Domestic defined benefit plans
Defined benefit plans [Axis]
[Member]
Defined benefit plans categories [Axis] Column 1
01/04/2020 01/04/2019
to to
31/03/2021 31/03/2020
Disclosure of defined benefit plans [Abstract]
Disclosure of defined benefit plans [Line items]
Description of type of plan Gratuity Gratuity
Surplus (deficit) in plan [Abstract]
Defined benefit obligation, at present value 141 127
Net surplus (deficit) in plan -141 -127
Actuarial assumption of discount rates 6.30% 6.60%
Actuarial assumption of expected rates of salary increases 12.00% 12.00%

121
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Disclosure of net defined benefit liability (assets) [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Defined benefit plans [Axis] Domestic defined benefit plans [Member]
Net defined benefit liability (assets) [Axis] Present value of defined benefit obligation [Member]
Defined benefit plans categories [Axis] Column 1
01/04/2020 01/04/2019
to to 31/03/2019
31/03/2021 31/03/2020
Disclosure of net defined benefit liability (assets) [Abstract]
Disclosure of net defined benefit liability (assets) [Line items]
Description of type of plan Gratuity Gratuity
Changes in net defined benefit liability (assets) [Abstract]
Current service cost, net defined benefit liability
25 21
(assets)
Interest expense (income), net defined benefit liability
8 8
(assets)
Payments from plan, net defined benefit liability (assets) 15 9
Increase (decrease) through other changes, net defined
(A) -4 (B) 3
benefit liability (assets)
Total increase (decrease) in net defined benefit liability
14 23
(assets)
Net defined benefit liability (assets) at end of period 141 127 104

(A) Acquisition (credit)* *The acquisition credit for year ending March 31, 2021 and March 31, 2020 is due to the transfer of
liability to fellow subsidiary companies.(2) Amount recognized in other comprehensive income (2)
(B) Amount recognized in other comprehensive income 3
Unless otherwise specified, all monetary values are in Millions of INR
01/04/2020 01/04/2019
to to
31/03/2021 31/03/2020
Textual information (18)
Disclosure of employee benefits [TextBlock] [See below]
Disclosure of defined benefit plans [TextBlock]
Whether there are any defined benefit plans Yes Yes
Disclosure of net defined benefit liability (assets) [TextBlock]

122
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Textual information (18)

Disclosure of employee benefits [Text Block]

29. Gratuity plan

The Company operates a defined benefit gratuity plan for its employees. Under the gratuity plan, every employee who has
completed at least five years of service gets a gratuity on departure at 15 days of last drawn salary for each completed year
of service. The plan is not funded by the Company.

The following tables summarize the components of net benefit expense recognized in the Statement of Profit and Loss and
the funded status and amounts recognized in the balance sheet:

As at As at

March 31, 2021 March 31, 2020

Statement of Profit and Loss

Current service cost (including risk premiums for fully insured benefits) 25 21

Past service cost - -

Net interest on net defined benefit liability 8 8

Net benefit expense 33 29

Re-measurement (gains) / losses in other comprehensive income

- Actuarial loss due to liability experience (6) (5)

- Actuarial (gain) / loss due to liability assumption changes 4 8

Net re-measurement losses of net defined benefit liability (2) 3

Balance sheet

Present value of defined benefits obligation 141 127

Plan liability 141 127

Change in the present value of the defined benefit obligation are as follows:

Opening defined benefit obligation 127 104

Current service cost 25 21

123
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Past service cost - -

Acquisition (credit)* (2) 0

Benefits paid (15) (9)

Net interest on net defined benefit liability 8 8

Amount recognized in other comprehensive income (2) 3

Defined benefit obligation as at the end of the year 141 127

*The acquisition credit for year ending March 31, 2021 and March 31, 2020 is due to the transfer of liability to fellow
subsidiary companies.

The principal assumptions used in determining gratuity and leave benefit obligations for the Company's plan are as follows:

As at March 31, 2021 As at March 31, 2020

Discount rate 6.30% 6.60%

Expected rate of return on

NA NA
assets

Salary escalation rate 12% for first three years and 10% thereafter 12% for first three years and 10% thereafter

100% of Indian Assured Lives Mortality 100% of Indian Assured Lives Mortality
Mortality rate
2012-2014 2012-2014

Withdrawal rate Managers and above -13% Managers and above -13%

Others -18% Others -17%

The estimates of future salary increases, considered in actuarial valuation, take account of inflation, seniority, promotion and
other relevant factors, such as supply and demand in the employment market.

As at As at

Sensitivity analysis of assumptions used March 31, 2021 March 31, 2020

Discount rate 6.30% 6.60%

Effect on defined benefit obligation due to 1% increase

(10) (8.63)
in discount rate

Effect on defined benefit obligation due to 1% decrease

10 9.19
in discount rate

124
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Salary escalation rate 12% for first three years and 12% for first three years and
10% thereafter 10% thereafter

Effect on defined benefit obligation due to 1% increase

6 5.75
in salary escalation rate

Effect on DBO due to 1% decrease in salary escalation

(6) (5.73)
rate

Method used for sensitivity analysis: The sensitivity analysis above determine their individual impact on the plan's end of
year defined benefit obligation. In reality, the plan is subject to multiple external experience items which may move the
defined benefit obligation in similar or opposite directions, while the plan's sensitivity to such changes can vary over time.

As at As at

Expected benefit payments March 31, 2021 March 31, 2020

Within 1 year 16 14

2-5 years 63 57

More than 5 years 163 150

Expected contribution to the defined benefit plan for the year ended March 31, 2022 is Rs. Nil as the scheme is managed
on unfunded basis.

The weighted average duration of the defined benefit obligation is 7 years.

[612800] Notes - Borrowing costs

Unless otherwise specified, all monetary values are in Millions of INR
01/04/2020 01/04/2019
to to
31/03/2021 31/03/2020
Disclosure of borrowing costs [TextBlock]
Whether any borrowing costs has been capitalised during the year No No

[612200] Notes - Leases

Unless otherwise specified, all monetary values are in Millions of INR
01/04/2020 01/04/2019
to to
31/03/2021 31/03/2020
Disclosure of leases [TextBlock]
Whether company has entered into any lease agreement No No
Whether any operating lease has been converted to financial lease or
No No
vice-versa

125
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

[612300] Notes - Transactions involving legal form of lease

Unless otherwise specified, all monetary values are in Millions of INR
01/04/2020 01/04/2019
to to
31/03/2021 31/03/2020
Disclosure of arrangements involving legal form of lease [TextBlock]
Whether there are any arrangements involving legal form of lease No No

[612900] Notes - Insurance contracts

Unless otherwise specified, all monetary values are in Millions of INR
01/04/2020 01/04/2019
to to
31/03/2021 31/03/2020
Disclosure of insurance contracts [TextBlock]
Whether there are any insurance contracts as per Ind AS 104 No No

[613100] Notes - Effects of changes in foreign exchange rates

Unless otherwise specified, all monetary values are in Millions of INR
01/04/2020 01/04/2019
to to
31/03/2021 31/03/2020
Disclosure of effect of changes in foreign exchange rates [TextBlock]
Whether there is any change in functional currency during the year No No
Description of presentation currency INR

126
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

[500100] Notes - Subclassification and notes on income and expenses

Unless otherwise specified, all monetary values are in Millions of INR
01/04/2020 01/04/2019
to to
31/03/2021 31/03/2020
Subclassification and notes on income and expense explanatory [TextBlock]
Disclosure of revenue from operations [Abstract]
Disclosure of revenue from operations for other than finance company
[Abstract]
Revenue from sale of products 429,398 341,705
Revenue from sale of services 19 0
Total revenue from operations other than finance company 429,417 341,705
Total revenue from operations 429,417 341,705
Disclosure of other income [Abstract]
Interest income [Abstract]
Interest income on current investments [Abstract]
Interest on fixed deposits, current investments 609 799
Interest on current intercorporate deposits 2,896 1,593
Interest on current debt securities 0 60
Interest on other current investments 15 10
Total interest income on current investments 3,520 2,462
Total interest income 3,520 2,462
Dividend income [Abstract]
Total dividend income 0 0
Net gain/loss on sale of investments [Abstract]
Net gain/loss on sale of current investments 3 1,208
Total net gain/loss on sale of investments 3 1,208
Other non-operating income [Abstract]
Net gain (loss) on foreign currency fluctuations treated as other
income [Abstract]
Other net gain (loss) on foreign currency fluctuations treated
26 -176
as other income
Total net gain/loss on foreign currency fluctuations treated as
26 -176
other income
Liabilities written off 25 80
Miscellaneous other non-operating income 574 582
Total other non-operating income 625 486
Total other income 4,148 4,156
Disclosure of finance cost [Abstract]
Interest expense [Abstract]
Interest expense current loans [Abstract]
Interest expense current loans, banks 442 13
Interest expense current loans, others 290 497
Total interest expense current loans 732 510
Interest expense other borrowings 10 21
Total interest expense 742 531
Other borrowing costs 101 128
Total finance costs 843 659
Employee benefit expense [Abstract]
Salaries and wages 2,178 1,512
Managerial remuneration [Abstract]
Remuneration to directors [Abstract]
Total remuneration to directors 0 0
Total managerial remuneration 0 0
Contribution to provident and other funds [Abstract]
Contribution to provident and other funds for others 29 27
Total contribution to provident and other funds 29 27
Employee share based payment [Abstract]
Employee share based payment- Cash settled 1,593 1,470
Total employee share based payment 1,593 1,470
Gratuity 25 21
Staff welfare expense 25 60
Total employee benefit expense 3,850 3,090
Depreciation, depletion and amortisation expense [Abstract]
Depreciation expense 5 6
Amortisation expense 2 4

127
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Total depreciation, depletion and amortisation expense 7 10

Breakup of other expenses [Abstract]
Consumption of stores and spare parts 0 0
Power and fuel 0 0
Rent 346 450
Repairs to building 0 0
Repairs to machinery 0 0
Insurance 0 0
Rates and taxes excluding taxes on income [Abstract]
Other cess taxes 10 65
Total rates and taxes excluding taxes on income 10 65
Telephone postage 2 1
Printing stationery 0 3
Travelling conveyance 11 61
Legal professional charges 467 184
Directors sitting fees 0 0
Advertising promotional expenses 110 138
Cost transportation [Abstract]
Cost other transporting 5 0
Total cost transportation 5 0
Cost warehousing 1,390 1,135
Loss on disposal of intangible Assets 0 0
Loss on disposal, discard, demolishment and destruction of
0 0
depreciable property plant and equipment
Contract cost [Abstract]
Other claims contracts 42 20
Total contract cost 42 20
Payments to auditor [Abstract]
Payment for audit services 7 7
Payment for taxation matters 1 1
Total payments to auditor 8 8
CSR expenditure 0 0

Miscellaneous expenses (A) 621 (B) 311

Total other expenses 3,012 2,376

Footnotes
(A) Repairs and maintenance: Others 230 Bad debts and advances written off - Allowance for doubtful debts and advances 91
Exchange (gain)/losses on foreign currency forward contracts 48 Marketplace Charges 6 Miscellaneous expenses 247
(B) Repairs and maintenance: Others 157 Bad debts and advances written off 40 Allowance for doubtful debts and advances 134
Exchange (gain)/losses on foreign currency forward contracts (64) Marketplace Charges - Miscellaneous expenses 44

[613200] Notes - Cash flow statement

Unless otherwise specified, all monetary values are in Millions of INR
01/04/2020 01/04/2019
to to 31/03/2019
31/03/2021 31/03/2020
Disclosure of cash flow statement [TextBlock]
Cash and cash equivalents cash flow statement 767 12,046 187
Cash and cash equivalents 767 12,046
Income taxes paid (refund), classified as operating activities 158 57
Total income taxes paid (refund) 158 57

128
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

[500200] Notes - Additional information statement of profit and loss

Unless otherwise specified, all monetary values are in Millions of INR
01/04/2020 01/04/2019
to to
31/03/2021 31/03/2020
Textual information (19)
Additional information on profit and loss account explanatory [TextBlock] [See below]
Other Comprehensive income, attributable to owners of parent 102 -3
Other Comprehensive income, attributable to non-controlling interests 0 0
Share of profit (loss) of associates accounted for using equity
-8 0
method
Total share of profit (loss) of associates and joint ventures
-8 0
accounted for using equity method
Changes in inventories of stock-in-trade -25,998 -5,138
Total changes in inventories of finished goods, work-in-progress and
-25,998 -5,138
stock-in-trade
Domestic sale traded goods 429,398 341,705
Total domestic turnover goods, gross 429,398 341,705
Total revenue from sale of products 429,398 341,705
Domestic revenue services 19 0
Total revenue from sale of services 19 0

Gross value of transaction with related parties (A) 8,401

5,892

Bad debts of related parties 0 0

Footnotes
(A) For details refer 21. Related party disclosures

Textual information (19)

Additional information on profit and loss account explanatory [Text Block]

16. Increase in inventories of traded goods

For the year ended For the year ended

March 31, 2021 March 31, 2020

Inventories at the end of the year (refer note 8) 55,633 29,636

Inventories at the beginning of the year 29,636 24,498

Net increase in inventories of traded goods (25,998) (5,138)

129
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

[611200] Notes - Fair value measurement

Disclosure of fair value measurement of liabilities [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Non-recurring fair
value
Measurement [Axis] At fair value [Member]
measurement
[Member]
Classes of liabilities [Axis] Column 1 Column 1
Level 2 of fair
Levels of fair value hierarchy [Axis] Level 2 of fair value hierarchy [Member] value hierarchy
[Member]
01/04/2020 01/04/2019 01/04/2020
to to 31/03/2019 to
31/03/2021 31/03/2020 31/03/2021
Disclosure of fair value measurement of liabilities
[Abstract]
Disclosure of fair value measurement of
liabilities [Line items]
Nature of liabilities Derivative liabilities Derivative liabilities Derivative liabilities
Liabilities 2 0 0 2
Description of reasons for fair value Management
Management Decision Management Decision
measurement, liabilities Decision
Transfers out of Level 1 into Level 2 of fair
value hierarchy, liabilities held at end of 0 0 0
reporting period
Description of reasons for transfers
out of Level 1 into Level 2 of fair value NA NA NA
hierarchy, liabilities
Transfers out of Level 2 into Level 1 of fair
value hierarchy, liabilities held at end of 0 0 0
reporting period
Description of reasons for transfers
out of Level 2 into Level 1 of fair value NA NA NA
hierarchy, liabilities
Description of valuation techniques used in
Refer not no 27 Refer not no 27 Refer not no 27
fair value measurement, liabilities
Reconciliation of changes in fair value
measurement, liabilities [Abstract]
Changes in fair value measurement,
liabilities [Abstract]
Purchases, fair value measurement,
2 0 2
liabilities
Total increase (decrease) in fair value
2 0 2
measurement, liabilities
Liabilities at end of period 2 0 0 2
Description of line items in profit or loss
where gains (losses) are recognised, fair NA NA NA
value measurement, liabilities
Description of line items in other
comprehensive income where gains (losses) are
NA NA NA
recognised, fair value measurement,
liabilities
Nature of liabilities Derivative liabilities Derivative liabilities Derivative liabilities

130
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Disclosure of fair value measurement of liabilities [Table] ..(2)

Unless otherwise specified, all monetary values are in Millions of INR
Non-recurring fair value measurement
Measurement [Axis]
[Member]
Classes of liabilities [Axis] Column 1
Level 2 of fair value hierarchy
Levels of fair value hierarchy [Axis]
[Member]
01/04/2019
to 31/03/2019
31/03/2020
Disclosure of fair value measurement of liabilities [Abstract]
Disclosure of fair value measurement of liabilities [Line items]
Nature of liabilities Derivative liabilities
Liabilities 0 0
Description of reasons for fair value measurement, liabilities Management Decision
Transfers out of Level 1 into Level 2 of fair value hierarchy, liabilities
0
held at end of reporting period
Description of reasons for transfers out of Level 1 into Level 2 of fair value
NA
hierarchy, liabilities
Transfers out of Level 2 into Level 1 of fair value hierarchy, liabilities
0
held at end of reporting period
Description of reasons for transfers out of Level 2 into Level 1 of fair value
NA
hierarchy, liabilities
Description of valuation techniques used in fair value measurement, liabilities Refer not no 27
Reconciliation of changes in fair value measurement, liabilities [Abstract]
Changes in fair value measurement, liabilities [Abstract]
Purchases, fair value measurement, liabilities 0
Total increase (decrease) in fair value measurement, liabilities 0
Liabilities at end of period 0 0
Description of line items in profit or loss where gains (losses) are
NA
recognised, fair value measurement, liabilities
Description of line items in other comprehensive income where gains (losses)
NA
are recognised, fair value measurement, liabilities
Nature of liabilities Derivative liabilities

131
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Disclosure of fair value measurement of assets [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Measurement [Axis] At fair value [Member]
Derivatives
Classes of assets [Axis] Other equity securities [Member]
[Member]
Level 2 of fair
Levels of fair value hierarchy [Axis] Level 3 of fair value hierarchy [Member] value hierarchy
[Member]
01/04/2020 01/04/2019 01/04/2020
to to 31/03/2019 to
31/03/2021 31/03/2020 31/03/2021
Disclosure of fair value measurement of assets
[Abstract]
Disclosure of fair value measurement of assets
[Line items]
Assets 1,562 357 0 0
Description of reasons for fair value Management
Management Decision Management Decision
measurement, assets Decision
Transfers out of Level 1 into Level
2 of fair value hierarchy, assets 0 0 0
held at end of reporting period
Description of reasons for transfers
out of Level 1 into Level 2 of fair value NA NA NA
hierarchy, assets
Transfers out of Level 2 into Level
1 of fair value hierarchy, assets 0 0 0
held at end of reporting period
Description of reasons for transfers
out of Level 2 into Level 1 of fair value NA NA NA
hierarchy, assets
Description of valuation techniques used in Discounted cash flow Discounted cash flow Discounted cash
fair value measurement, assets methods methods flow methods
Reconciliation of changes in fair value
measurement, assets [Abstract]
Changes in fair value measurement, assets
[Abstract]
Gains (losses) recognised in other
comprehensive income, fair value 100 0 0
measurement, assets
Purchases, fair value measurement, assets 1,105 357 0
Sales, fair value measurement, assets 46
Total increase (decrease) in fair value
1,205 357 -46
measurement, assets
Assets at end of period 1,562 357 0 0
Description of line items in profit or loss Other
Other comprehensive Other comprehensive
where gains (losses) are recognised, fair income/(loss): income/(loss):
comprehensive
value measurement, assets income/(loss):
Description of line items in other Other
Other comprehensive Other comprehensive
comprehensive income where gains (losses) are income/(loss): income/(loss):
comprehensive
recognised, fair value measurement, assets income/(loss):

132
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Disclosure of fair value measurement of assets [Table] ..(2)

Unless otherwise specified, all monetary values are in Millions of INR
Non-recurring fair value measurement
Measurement [Axis] At fair value [Member]
[Member]
Classes of assets [Axis] Derivatives [Member] Other equity securities [Member]
Level 2 of fair value hierarchy Level 3 of fair value hierarchy
Levels of fair value hierarchy [Axis]
[Member] [Member]
01/04/2019 01/04/2020 01/04/2019
to 31/03/2019 to to
31/03/2020 31/03/2021 31/03/2020
Disclosure of fair value measurement of assets
[Abstract]
Disclosure of fair value measurement of assets
[Line items]
Assets 46 0 1,562 357
Description of reasons for fair value Management Management
Management Decision
measurement, assets Decision Decision
Transfers out of Level 1 into Level
2 of fair value hierarchy, assets 0 0 0
held at end of reporting period
Description of reasons for transfers
out of Level 1 into Level 2 of fair value NA NA NA
hierarchy, assets
Transfers out of Level 2 into Level
1 of fair value hierarchy, assets 0 0 0
held at end of reporting period
Description of reasons for transfers
out of Level 2 into Level 1 of fair value NA NA NA
hierarchy, assets
Description of valuation techniques used in Discounted cash flow Discounted cash Discounted cash flow
fair value measurement, assets methods flow methods methods
Reconciliation of changes in fair value
measurement, assets [Abstract]
Changes in fair value measurement, assets
[Abstract]
Gains (losses) recognised in other
comprehensive income, fair value 0 100 0
measurement, assets
Purchases, fair value measurement, assets 46 1,105 357
Total increase (decrease) in fair value
46 1,205 357
measurement, assets
Assets at end of period 46 0 1,562 357
Description of line items in profit or loss Other
Other comprehensive Other comprehensive
where gains (losses) are recognised, fair income/(loss):
comprehensive
income/(loss):
value measurement, assets income/(loss):
Description of line items in other Other
Other comprehensive Other comprehensive
comprehensive income where gains (losses) are income/(loss):
comprehensive
income/(loss):
recognised, fair value measurement, assets income/(loss):

133
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Disclosure of fair value measurement of assets [Table] ..(3)

Unless otherwise specified, all monetary values are in Millions of INR
Measurement [Axis] Non-recurring fair value measurement [Member]
Other equity
Classes of assets [Axis] securities Derivatives [Member]
[Member]
Level 3 of fair
Levels of fair value hierarchy [Axis] value hierarchy Level 2 of fair value hierarchy [Member]
[Member]
01/04/2020 01/04/2019
31/03/2019 to to 31/03/2019
31/03/2021 31/03/2020
Disclosure of fair value measurement of assets
[Abstract]
Disclosure of fair value measurement of assets
[Line items]
Assets 0 0 46 0
Description of reasons for fair value
Management Decision Management Decision
measurement, assets
Transfers out of Level 1 into Level
2 of fair value hierarchy, assets 0 0
held at end of reporting period
Description of reasons for transfers
out of Level 1 into Level 2 of fair value NA NA
hierarchy, assets
Transfers out of Level 2 into Level
1 of fair value hierarchy, assets 0 0
held at end of reporting period
Description of reasons for transfers
out of Level 2 into Level 1 of fair value NA NA
hierarchy, assets
Description of valuation techniques used in Discounted cash flow Discounted cash flow
fair value measurement, assets methods methods
Reconciliation of changes in fair value
measurement, assets [Abstract]
Changes in fair value measurement, assets
[Abstract]
Gains (losses) recognised in other
comprehensive income, fair value 0 0
measurement, assets
Purchases, fair value measurement, assets 0 46
Sales, fair value measurement, assets 46
Total increase (decrease) in fair value
-46 46
measurement, assets
Assets at end of period 0 0 46 0
Description of line items in profit or loss
Other comprehensive Other comprehensive
where gains (losses) are recognised, fair income/(loss): income/(loss):
value measurement, assets
Description of line items in other
Other comprehensive Other comprehensive
comprehensive income where gains (losses) are income/(loss): income/(loss):
recognised, fair value measurement, assets

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

01/04/2020 01/04/2019
to to
31/03/2021 31/03/2020
Textual information (20)
Disclosure of fair value measurement [TextBlock] [See below]
Disclosure of fair value measurement of assets [TextBlock]
Whether assets have been measured at fair value Yes Yes
Disclosure of fair value measurement of liabilities [TextBlock]
Whether liabilities have been measured at fair value Yes Yes
Disclosure of fair value measurement of equity [TextBlock]
Whether equity have been measured at fair value No No
Disclosure of significant unobservable inputs used in fair value
measurement of liabilities [TextBlock]

134
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Textual information (20)

Disclosure of fair value measurement [Text Block]

27. Fair value hierarchy

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between
market participants at the measurement date (i.e. an exit price).

Financial instruments whose carrying amounts approximate fair value

The carrying values of trade receivables, other financial assets, cash and cash equivalents, trade and other payables, other
financial liabilities, loans and borrowings and balances with related parties, based on their notional amounts, reasonably
approximate their fair values because these are mostly short term in nature.

Fair value of financial instruments that are carried at fair value

The following table shows an analysis of financial instruments carried at fair value by level of fair value hierarchy:

As at March 31, 2021

Total Level 1 Level 2 Level 3

Assets measured at fair value:

Investments (mutual fund, non-convertible debentures, bonds and preference shares) 1,562 - - 1,562

Derivative assets 0 - 0 -

Liabilities measured at fair value:

Derivative liabilities 2 - 2 -

As at March 31, 2020

Total Level 1 Level 2 Level 3

Assets measured at fair value:

Investments (mutual fund, non-convertible debentures, bonds and commercial paper) 357 - - 357

Derivative assets 46 - 46 -

Liabilities measured at fair value:

Derivative liabilities - - - -

Fair value hierarchy

The Company classifies fair value measurement using a fair value hierarchy that reflects the significance of the inputs used
in making the measurements. The fair value hierarchy have the following levels:

135
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Level 1 – Quoted prices (unadjusted) in active markets for identical assets or liabilities,

Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly
(i.e., as prices) or indirectly (i.e., derived from prices), and

Level 3 – Inputs for the asset or liability that are not based on observable market data (unobservable inputs).

Level 3 fair values

The valuation techniques and significant unobservable inputs used in the fair value measurement of Level 3 instruments in
the fair value hierarchy are disclosed in the table below.

Valuation technique Significant unobserable inputs Range

Weighted average cost of capital 15.27%

Unquoted equity investments Discounted cash flow methods Revenue growth rate 5%

Discount due to lack of marketability 20%

The following table presents the reconciliation for all financial assets measured at fair value based on significant
unobservable inputs (Level 3).

Particulars Investment in FVTOCI

March 31, 2021 March 31, 2020

Balance at the beginning of the year 357 -

Additions 1,105 357

Fair value gain recognised in other comprehensive income 100 -

Balance at the end of the year 1,562 357

Management uses its best judgment in estimating the fair value of its financial instruments. However, there are inherent
limitations in any estimation technique. Therefore, for substantially all financial instruments, the fair value estimates
presented above are not necessarily indicative of all the amounts that the Company could have realized or paid in sale
transactions as of respective dates. As such, the fair value of the financial instruments subsequent to the respective reporting
dates may be different from the amounts reported at each year end.

[613300] Notes - Operating segments

Unless otherwise specified, all monetary values are in Millions of INR
01/04/2020 01/04/2019
to to
31/03/2021 31/03/2020
Disclosure of entity's operating segments [TextBlock]
Disclosure of reportable segments [TextBlock]
Whether there are any reportable segments No No
Disclosure of major customers [TextBlock]
Whether there are any major customers No No

136
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

[610700] Notes - Business combinations

Unless otherwise specified, all monetary values are in Millions of INR
01/04/2020 01/04/2019
to to
31/03/2021 31/03/2020
Disclosure of business combinations [TextBlock]
Whether there is any business combination No No
Disclosure of reconciliation of changes in goodwill [TextBlock]
Whether there is any goodwill arising out of business combination No No
Disclosure of acquired receivables [TextBlock]
Whether there are any acquired receivables from business combination No No
Disclosure of contingent liabilities in business combination [TextBlock]
Whether there are any contingent liabilities in business combination No No

[611500] Notes - Interests in other entities

Disclosure of associates [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Associates [Axis] Column 1
01/04/2020 01/04/2019
to to
31/03/2021 31/03/2020
Disclosure of associates [Abstract]
Disclosure of associates [Line items]
ARVIND YOUTH ARVIND YOUTH
Name of associate entity BRANDS PRIVATE BRANDS PRIVATE
LIMITED LIMITED
The company holds
Description of nature of entity's relationship with associate 23.75% of the total share
capital
Principal place of business of associate India India
Country of incorporation of associate India India
CIN of associate entity U52100GJ2020PTC112995 U52100GJ2020PTC112995
Latest audited balance sheet date 31/03/2021
Whether associate has been considered in consolidation Yes
The company holds
Description how there is significant influence in associate 23.75% of the total share
capital
Proportion of ownership interest in associate 23.75% 0.00%
Proportion of voting rights held in associate 23.75% 0.00%
Description of whether investment in associate is measured using equity Fair value through other
method or at fair value comphrehensive income
Amount of investment in associate 1,562
Number of shares held of associate [shares] 0
Net worth attributable to shareholding as per latest audited balance sheet
114
associate
Profit (loss) for year associate 439
Profit (loss) for year associate considered in consolidation 8
Profit (loss) for year associate not considered in consolidation 431
Dividends received 0
Latest audited balance sheet date 31/03/2021

137
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

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

01/04/2020 01/04/2019
to to
31/03/2021 31/03/2020
Disclosure of interests in other entities [TextBlock]
Disclosure of interests in subsidiaries [TextBlock]
Disclosure of subsidiaries [TextBlock]
Whether company has subsidiary companies No No
Whether company has subsidiary companies which are yet to commence
No No
operations
Whether company has subsidiary companies liquidated or sold during
No No
year
Disclosure of interests in associates [TextBlock]
Disclosure of associates [TextBlock]
Whether company has invested in associates Yes No
Whether company has associates which are yet to commence operations No No
Whether company has associates liquidated or sold during year No No
Disclosure of interests in joint arrangements [TextBlock]
Disclosure of joint ventures [TextBlock]
Whether company has invested in joint ventures No No
Whether company has joint ventures which are yet to commence
No No
operations
Whether company has joint ventures liquidated or sold during year No No
Disclosure of interests in unconsolidated structured entities [TextBlock]
Disclosure of unconsolidated structured entities [TextBlock]
Whether there are unconsolidated structured entities No No
Disclosure of investment entities [TextBlock]
Disclosure of information about unconsolidated subsidiaries [TextBlock]
Whether there are unconsolidated subsidiaries No No
Disclosure of information about unconsolidated structured entities
controlled by investment entity [TextBlock]
Whether there are unconsolidated structured entities controlled by
No No
investment entity

[613400] Notes - Consolidated Financial Statements

Disclosure of details of entities consolidated [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Entities consolidated [Axis] Column 1 Column 2
01/04/2020 01/04/2020
to to
31/03/2021 31/03/2021
Disclosure of additional information consolidated financial statements [Abstract]
Disclosure of additional information consolidated financial statements [Line items]
Arvind Youth
Flipkart India
Name of entity consolidated Private Limited
Brands Private
Limited
Type of entity consolidated Parent Indian Associate
Amount of net assets of entity consolidated 47,486 2,592
Net assets of entity as percentage of consolidated net assets 94.82% 5.18%
Amount of share in profit or loss of entity consolidated -24,448 -8
Share in profit or loss of entity as percentage of consolidated profit or loss 99.97% 0.03%
Amount of share in other comprehensive income consolidated 102 0
Share in other comprehensive income consolidated 100.00% 0.00%
Amount of share in comprehensive income consolidated -24,346 -8
Share in comprehensive income consolidated 99.97% 0.03%

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

01/04/2020
to
31/03/2021
Disclosure of notes on consolidated financial statements explanatory Textual information (21)
[TextBlock] [See below]
Whether consolidated financial statements is applicable on company No
Disclosure of additional information consolidated financial statements
[TextBlock]

138
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Textual information (21)

Disclosure of notes on consolidated financial statements explanatory [Text Block]

28. Statutory Company information

Name of the entity in the Net Assets i.e. total assets minus total
Share in profit and (loss)
Company liabilities

As % of consolidated profit
As % of consolidated net assets Amount Amount
and loss

Parent

India

Flipkart India Private Limited

March 31, 2021 94.82% 47,486 99.97% -24,448

March 31, 2020 100.00% 74,432 100.00% -31,503

Associate

India

Arvind Youth Brands Private

Limited

March 31, 2021 5.18% 2,592 0.03% -8

March 31, 2020 0.00% - 0.00% -

Grand Total

March 31, 2021 100% 50,078 100% -24,456

March 31, 2020 100% 74,432 100% -31,503

Name of the entity in the Share in total Comprehensive

Share in other Comprehensive income
Company income

As % of consolidated other As % of total comprehensive

Amount Amount
comprehensive income income

139
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Parent

India

Flipkart India Private Limited

March 31, 2021 100.00% 102 99.97% -24,346

March 31, 2020 100.00% -3 100.00% -31,506

Associate

India

Arvind Youth Brands Private

Limited

March 31, 2021 0.00% - 0.03% -8

March 31, 2020 0.00% - 0.00% -

Grand Total

March 31, 2021 100% 102 100% -24,354

March 31, 2020 100% -3 100% -31,506

[611400] Notes - Separate financial statements

Disclosure of associates [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Associates [Axis] Column 1
01/04/2020 01/04/2019
to to
31/03/2021 31/03/2020
Disclosure of associates [Abstract]
Disclosure of associates [Line items]
ARVIND YOUTH ARVIND YOUTH
Name of associate entity BRANDS PRIVATE BRANDS PRIVATE
LIMITED LIMITED
CIN of associate entity U52100GJ2020PTC112995 U52100GJ2020PTC112995
Principal place of business of associate India India
Country of incorporation of associate India India
Proportion of ownership interest in associate 23.75% 0.00%
Proportion of voting rights held in associate 23.75% 0.00%

140
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

[610800] Notes - Related party

Disclosure of transactions between related parties [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Categories of related parties [Axis] Parent [Member]
Related party [Axis] Column 1
01/04/2020 01/04/2019
to to
31/03/2021 31/03/2020
Disclosure of transactions between related parties [Abstract]
Disclosure of transactions between related parties [Line items]
(A) Flipkart (B) Flipkart Private
Name of related party Private Limited Limited
Country of incorporation or residence of related party SINGAPORE SINGAPORE
Description of nature of transactions with related party Various Various
Description of nature of related party relationship Holding company Holding company
Related party transactions [Abstract]
Other related party transactions expense 1,593 1,470
Other related party transactions contribution received (C) 132 (D) 44,708
Outstanding balances for related party transactions [Abstract]
Amounts payable related party transactions 1,647 1,149

Footnotes
(A) Refer 21. Related party disclosures for other related party transactions
(B) Refer 21. Related party disclosures for other related party transactions
(C) TDS on employee stock options cross charge
(D) TDS on employee stock options cross charge 158, Share application money received 44,550
Unless otherwise specified, all monetary values are in Millions of INR
01/04/2020 01/04/2019
to to
31/03/2021 31/03/2020
Disclosure of related party [TextBlock]
Whether there are any related party transactions during year Yes Yes
Textual information (22)
Disclosure of transactions between related parties [TextBlock] [See below]
Whether entity applies exemption in Ind AS 24.25 No No
Whether company is subsidiary company Yes Yes
Section under which company is subsidiary Section 2(87)(ii) Section 2(87)(ii)

141
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Textual information (22)

Disclosure of transactions between related parties [Text Block]

21. Related party disclosures

Names of related parties and related party relationship

a) Related parties where control exists

Ultimate holding company : Walmart Inc., U.S.A.

Holding company : Flipkart Private Limited, Singapore

b) Related party with whom transactions have taken place during the year

Holding company :Flipkart Private Limited, Singapore

Associate company: Arvind Youth Brands Private Limited, India (w.e.f. July 20, 2020)

Fellow subsidiaries Flipkart Internet Private Limited, India

Flipkart Logistics Services Private Limited, India

Myntra Designs Private Limited, India

Jeeves Consumer Services Private Limited, India

F1 Info Solutions & Services Private Limited, India

Instakart Services Private Limited, India

MintKart India Private Limited, India

Flipkart Advanz Private Limited

Myntra Designs Private Limited

Myntra Jabong India Private Limited, India

Novarris Fashion Trading Private Limited, India

Liv Artificial Intelligence Private Limited, India

Flipkart (Shenzhen) International Trading Company Limited (China)

Exmyn Brands Private Limited, India

XS Brands Consultancy Private Limited, India

142
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Wal-mart India Private Limited, India

PhonePe Private Limited , India

Key managerial personnel Rishi Vasudev (from July 16, 2019 upto February 17, 2020)

Chanakya Gupta (w.e.f January 15, 2021)

c) Related party transactions

The following table provides the total amount of transactions that have been entered into with related parties for the relevant
financial year:

Relationship Nature of transactions March 31, 2021 March 31, 2020

a) Transactions

Holding company Employee stock options cross charge 1,593 1,470

TDS on employee stock options cross charge 132 158

Share application money received - 44,550

Issue / allotment of shares - 44,550

Refund of share application money - 0

Associate company Investment in associate 2,600 -

Purchase of traded goods 528 -

Fellow subsidiary company Intercorporate loan received 1,79,807 39,988

Intercorporate loan repaid 1,74,178 40,098

Interest expense on intercorporate loan 290 497

Intercorporate loan given 2,52,985 89,606

Intercorporate loan recovered 2,80,072 60,496

Interest income on intercorporate loan 2,896 1,593

Repairs and maintenance - others 186 144

Legal and professional fees 238 119

143
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Other non-operating income 96 83

Rent 344 446

Sale of traded goods 9 12

Purchase of traded goods 205 142

Warehousing service charge 1,390 1,135

Employee benefits expense (cross charge), net 450 (31)

Finance costs 1 13

Outside Contracted Service 19 -

Miscellaneous Expenses 3 -

Key management personnel Director's remuneration** 21 111

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

b) Balances as at year end

As at As at

March 31, 2021 March 31, 2020

Holding company Trade and other payables 1,647 1,149

Fellow subsidiary company Trade and other payables 955 123

Trade Receivable 134 46

Intercorporate loan payable 7,097 1,469

Intercorporate loan receivable 3,587 30,675

Interest receivable 2,892 1,591

Interest payable 289 475

Other Liabilities 24 -

Disclosure for significant related party transactions and balances:

144
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Nature of transactions and March 31, March 31,

Name of the party
balances 2021 2020

Employee stock options cross

Flipkart Private Limited, Singapore (Holding company) 1,593 1,470
charge

TDS on employee stock options

132 158
cross charge

Share application money

- 44,550
received

Issue / allotment of shares - 44,550

Arvind Youth Brands Private Limited (Associate company) Investment in the associate 2,600 -

Purchase of traded goods 528 -

Flipkart Internet Private Limited (Fellow subsidiary company) Intercorporate loan received - 5,627

Intercorporate loan repaid - 5,930

Intercorporate loan given 2,22,283 79,191

Intercorporate loan recovered 2,48,251 49,887

Intercorporate loan receivable 3,336 29,304

Repairs and maintenance -

181 141
others

Interest income on intercorporate

2,111 1,360
loan

Employee benefits expense

449 (31)
(cross charge), net

Legal and professional fees 88 0

Rent 92 87

Other Non Operating Income 90 68

Outside Contracted Service 19 -

Instakart Services Private Limited (Fellow subsidiary company) Intercorporate loan payable 7,097 1,469

145
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Intercorporate loan received 1,79,807 34,362

Intercorporate loan repaid 1,74,178 34,168

Warehousing service charge 1,390 1,135

Interest expense on loan payable 290 477

Rent 251 359

Purchase of traded goods 6 7

Myntra Jabong India Private Limited (Fellow subsidiary

Intercorporate loan given 30,687 10,407
company)

Intercorporate loan recovered 31,815 10,594

Intercorporate loan receivable 241 1,369

Interest income on intercorporate

784 232
loan

Flipkart (Shenzhen) International Trading Company Limited

Legal and professional fees 149 119
(Fellow subsidiary company)

Jeeves Consumer Services Private Limited (Fellow subsidiary

Purchase of traded goods 179 115
company)

[611700] Notes - Other provisions, contingent liabilities and contingent assets

Disclosure of contingent liabilities [Table] ..(1)

Unless otherwise specified, all monetary values are in Millions of INR
Classes of contingent liabilities [Axis] Other contingent liabilities [Member] Other guarantees given [Member]
01/04/2020 01/04/2019 01/04/2020 01/04/2019
to to to to
31/03/2021 31/03/2020 31/03/2021 31/03/2020
Disclosure of contingent liabilities [Abstract]
Disclosure of contingent liabilities [Line items]
Description of nature of obligation, contingent Total contingent Total Contingent
Bank guarantee Bank guarantee
liabilities liability Liability
Refer not 22 Refer not 22
Refer not 22 Refer not 22
Explanation of estimated financial effect of Contingent Contingent
Contingent liabilities Contingent liabilities
contingent liabilities liabilities and liabilities and
and commitments and commitments
commitments commitments
Estimated financial effect of contingent
462 277 462 264
liabilities
Refer not 22 Refer not 22
Refer not 22 Refer not 22
Explanation of possibility of reimbursement Contingent Contingent
Contingent liabilities Contingent liabilities
contingent liabilities liabilities and liabilities and
and commitments and commitments
commitments commitments
Refer not 22 Refer not 22
Refer not 22 Refer not 22
Indication of uncertainties of amount or Contingent Contingent
Contingent liabilities Contingent liabilities
timing of outflows contingent liabilities liabilities and liabilities and
and commitments and commitments
commitments commitments

146
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Disclosure of contingent liabilities [Table] ..(2)

Unless otherwise specified, all monetary values are in Millions of INR
Other contingent liabilities, others
Classes of contingent liabilities [Axis]
[Member]
01/04/2020 01/04/2019
to to
31/03/2021 31/03/2020
Disclosure of contingent liabilities [Abstract]
Disclosure of contingent liabilities [Line items]
Estimated amount
Estimated amount of
of contracts (net of
contracts (net of
advances)
advances) remaining
Description of nature of obligation, contingent liabilities remaining to be
to be executed on
executed on capital
capital account and
account and not
not provided for
provided for
Refer not 22
Refer not 22
Contingent
Explanation of estimated financial effect of contingent liabilities liabilities and
Contingent liabilities
and commitments
commitments
Estimated financial effect of contingent liabilities 0 13
Refer not 22
Refer not 22
Contingent
Explanation of possibility of reimbursement contingent liabilities liabilities and
Contingent liabilities
and commitments
commitments
Refer not 22
Refer not 22
Contingent
Indication of uncertainties of amount or timing of outflows contingent liabilities liabilities and
Contingent liabilities
and commitments
commitments

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

01/04/2020 01/04/2019
to to
31/03/2021 31/03/2020
Disclosure of other provisions, contingent liabilities and contingent assets
[TextBlock]
Disclosure of contingent liabilities [TextBlock]
Whether there are any contingent liabilities Yes Yes
Bank guarantee & Bank guarantee &
Estimated amount of Estimated amount of
contracts (net of contracts (net of
Description of other contingent liabilities others advances) remaining to advances) remaining to
be executed on capital be executed on capital
account and not provided account and not provided
for for

[610500] Notes - Events after reporting period

Unless otherwise specified, all monetary values are in Millions of INR
01/04/2020 01/04/2019
to to
31/03/2021 31/03/2020
Disclosure of events after reporting period [TextBlock]
Disclosure of non-adjusting events after reporting period [TextBlock]
Whether there are non adjusting events after reporting period No No

[612500] Notes - Share-based payment arrangements

Unless otherwise specified, all monetary values are in Millions of INR
01/04/2020 01/04/2019
to to
31/03/2021 31/03/2020
Textual information (23)
Disclosure of share-based payment arrangements [TextBlock] [See below]
Whether there are any share based payment arrangement No No

147
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Textual information (23)

Disclosure of share-based payment arrangements [Text Block]

30. Employee stock option plan

All of the Company's employees, officers, directors, business partners, consultants and advisers or any other person as
approved by the Board of Flipkart Private Limited, are eligible for being considered for the grant of stock options under
Flipkart Stock Option Scheme 2012 (‘FSOP 2012’) and other plans administered by the Company. . Share options granted
by Flipkart are categorised into time-based options and performance-based share options.

Time-based stock options granted under FSOP 2012 would vest between one day and not more than five years from the
date of grant of such options. Vesting of options would be subject to continued employment with the Company (in case of an
employee) or provision of expertise (in case of a consultant) or continued business partnership (in case of a business
partner) or advisory services (in case of an advisor) to the Company or such other criteria determined by the Board and thus
the options would vest on passage of time. The specific vesting schedule and conditions subject to which vesting would take
place would be outlined in the document given to the option grantee at the time of grant of options. The exercise price of the
time-based share options is nil.

The exercise price of the option is Nil, or the price as determined by the Board in accordance with FSOP 2012. For
time-based share options issued by Flipkart, weighted average fair value of the options granted during the year is US $
114.02 (2020- US $ 106.99)

Cancellation offer

During the year ended March 31, 2021, the Company has amended certain terms and conditions of the FSOP 2012 which
now allow the Board, at its sole discretion, to make a cancellation offer to the existing holders of share options and offer the
fair value of the underlying equity share as consideration for the cancellation. The modifications clarify that the cancellation
offer can only be made in respect of options vesting after August 2017.

The Company has evaluated the impact of the amendment to the FSOP plan and determined that this is a modification to the
FSOP plan. In accordance with Ind AS 102, the Company has assessed the classification of the awards that will continue to
be settled in equity instruments and has continued to account for such awards as per the original grant date fair value of
options. The portion of share options that will be settled by paying cash has been classified as a cash-settled share-based
payment liability on the date of modification to the plan. The liability on the modification date is measured at the fair value of
cash-settled options and any difference between the modification date fair value of equity-settled options and cash-settled
options is taken to the consolidated statement of profit or loss.

Movement of share options during the financial year

The following table illustrates the movement of the options during the financial year (numbers)

As at As at

March 31, 2021 March 31, 2020

Outstanding as at the beginning of the year* 9,40,027 8,28,353

- on account of transfer of employees in company (21,546) (31,280)

- Granted 2,50,015 2,04,940

- Repurchased (34,531) (48,897)

- Expired unvested (66,044) (13,089)

Outstanding as at the end of the year 10,67,921 9,40,027

148
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Vested as at the year end 6,39,357 5,23,510

*Charge on options held by the employees transferred from the company companies has been absorbed by the company
from the date of transfer

For time-based share options issued by Flipkart, the weighted average fair value of options granted during the year was US
$ 114.02 (2020 - US $ 106.99 ). As at March 31, 2021, the weighted average contractual remaining life of time-based
options is 1.5 years and for performance-based options is 12 years.

Fair value of share options granted

The fair value of share options granted by the Company that are classified as time-based options is estimated at the grant
date using arm’s length price of the share options as reduced by DLOM (Discount due to Lack of Marketability) computed
using Finnerty model, taking into account the terms and conditions upon which the share options were granted. The inputs
used to measure fair values of options granted on the grant date were as follows:

The following table lists the inputs to the option pricing models for the year ended:

As at As at

March 31, 2021 March 31, 2020

Dividend yield (% p.a.) 0% 0%

Expected volatility (% p.a.) 44.0% - 48,5% 45.30%

Expected life of option (years) 1.35 - 2 Years 3 years

[613000] Notes - Earnings per share

Unless otherwise specified, all monetary values are in Millions of INR
01/04/2020 01/04/2019
to to
31/03/2021 31/03/2020
Textual information (24)
Disclosure of earnings per share [TextBlock] [See below]
Basic earnings per share [Abstract]
Basic earnings (loss) per share from continuing operations [INR/shares] -2,498 [INR/shares] -3,477
Total basic earnings (loss) per share [INR/shares] -2,498 [INR/shares] -3,477
Diluted earnings per share [Abstract]
Diluted earnings (loss) per share from continuing operations [INR/shares] -2,498 [INR/shares] -3,477
Total diluted earnings (loss) per share [INR/shares] -2,498 [INR/shares] -3,477
Profit (loss), attributable to ordinary equity holders of parent entity
[Abstract]
Profit (loss) from continuing operations attributable to ordinary
-24,456 -31,503
equity holders of parent entity
Profit (loss), attributable to ordinary equity holders of parent entity -24,456 -31,503
Profit (loss) from continuing operations attributable to
ordinary equity holders of parent entity including dilutive -24,456 -31,503
effects
Profit (loss), attributable to ordinary equity holders of parent
-24,456 -31,503
entity including dilutive effects
Weighted average shares and adjusted weighted average shares [Abstract]
Weighted average number of ordinary shares outstanding [shares] 97,89,111 [shares] 90,61,628

149
FLIPKART INDIA PRIVATE LIMITED Consolidated Financial Statements for period 01/04/2020 to 31/03/2021

Textual information (24)

Disclosure of earnings per share [Text Block]

23. Earnings per share (EPS)

Basic earning per share:

Basic earnings per share is calculated by dividing the loss attributable to equity shareholders of the Company by the
weighted average number of ordinary shares outstanding during the period, excluding equity shares purchased by the
Company, if any.

Diluted earning per share:

Diluted earnings per share is calculated by adjusting the weighted average number of ordinary shares outstanding during the
period for assumed conversion of all dilutive potential ordinary shares, unless these shares are not anti-dilutive.

The following reflects the profit / (loss) and share data used in computation of basic and diluted EPS:

A reconciliation of (loss) for the year and weighted average number of ordinary shares used in the computation of basic and
diluted earnings per share is stated below:

March 31, 2021 March 31, 2020

(Loss) during the year attributable to owners of the Company (24,456) (31,503)

Weighted average number of ordinary shares outstanding 97,89,111 90,61,628

Basic and diluted earnings per share (2,498) (3,477)

[610900] Notes - First time adoption

Unless otherwise specified, all monetary values are in Millions of INR
01/04/2020 01/04/2019
to to
31/03/2021 31/03/2020
Disclosure of first-time adoption [TextBlock]
Whether company has adopted Ind AS first time No No

150