INDGN2024-01-012024-03-31 INDGN2024-01-012024-03-31 INDGN2024-01-012024-03-31in-bse-fin:OneOperatingExpenses01Member INDGN2024-01-012024-03-31in-bse-fin:FourOperatingExpenses01Member INDGN2024-03-31 INDGN2024-01-012024-03-31in-bse-fin:OneReportableSegmentRevenue01Member INDGN2024-01-012024-03-31in-bse-fin:OneReportableSegmentRevenue02Member INDGN2024-01-012024-03-31in-bse-fin:OneReportableSegmentRevenue03Member INDGN2024-01-012024-03-31in-bse-fin:OneReportableSegmentRevenue04Member INDGN2024-01-012024-03-31in-bse-fin:FourReportableSegmentRevenue01Member INDGN2024-01-012024-03-31in-bse-fin:FourReportableSegmentRevenue02Member INDGN2024-01-012024-03-31in-bse-fin:FourReportableSegmentRevenue03Member INDGN2024-01-012024-03-31in-bse-fin:FourReportableSegmentRevenue04Member INDGN2024-01-012024-03-31in-bse-fin:OneReportableSegmentResults01Member INDGN2024-01-012024-03-31in-bse-fin:OneReportableSegmentResults02Member INDGN2024-01-012024-03-31in-bse-fin:OneReportableSegmentResults03Member INDGN2024-01-012024-03-31in-bse-fin:OneReportableSegmentResults04Member INDGN2024-01-012024-03-31in-bse-fin:FourReportableSegmentResults01Member INDGN2024-01-012024-03-31in-bse-fin:FourReportableSegmentResults02Member INDGN2024-01-012024-03-31in-bse-fin:FourReportableSegmentResults03Member INDGN2024-01-012024-03-31in-bse-fin:FourReportableSegmentResults04Member INDGN2024-01-012024-03-31in-bse-fin:OneReportableSegmentAssets01Member INDGN2024-01-012024-03-31in-bse-fin:OneReportableSegmentAssets02Member INDGN2024-01-012024-03-31in-bse-fin:OneReportableSegmentAssets03Member INDGN2024-01-012024-03-31in-bse-fin:OneReportableSegmentAssets04Member INDGN2024-01-012024-03-31in-bse-fin:OneReportableSegmentLiabilities01Member INDGN2024-03-31in-bse-fin:OneReportableSegmentLiabilities01Member INDGN2024-01-012024-03-31in-bse-fin:OneReportableSegmentLiabilities02Member INDGN2024-03-31in-bse-fin:OneReportableSegmentLiabilities02Member INDGN2024-01-012024-03-31in-bse-fin:OneReportableSegmentLiabilities03Member INDGN2024-03-31in-bse-fin:OneReportableSegmentLiabilities03Member INDGN2024-01-012024-03-31in-bse-fin:OneReportableSegmentLiabilities04Member INDGN2024-03-31in-bse-fin:OneReportableSegmentLiabilities04Member INDGN2024-01-012024-03-31in-bse-fin:OneItemsThatWillNotBeReclassifiedToProfitAndLoss01Member INDGN2024-01-012024-03-31in-bse-fin:FourItemsThatWillNotBeReclassifiedToProfitAndLoss01Member INDGN2024-01-012024-03-31in-bse-fin:OneItemsThatWillBeReclassifiedToProfitAndLoss01Member INDGN2024-01-012024-03-31in-bse-fin:FourItemsThatWillBeReclassifiedToProfitAndLoss01Member iso4217:INRxbrli:purexbrli:sharesiso4217:INRxbrli:shares 544172 INDGN NOTLISTED Indegene Limited Equity 2023-04-01 2024-03-31 2024-05-29 2024-05-21 INR Millions Yearly 19:00:00 20:15:00 2024-05-29 2024-05-29 true Cash Flow Indirect Declaration of unmodified opinion Multi segment 2024-01-01 2024-03-31 Audited Consolidated 6730000000.00 232000000.00 6962000000.00 0.00 0.00 0.00 4284000000.00 123000000.00 185000000.00 1059000000.00 5651000000.00 1311000000.00 24000000.00 1335000000.00 131000000.00 256000000.00 387000000.00 0.00 948000000.00 0.00 0.00 0.00 0.00 948000000.00 18000000.00 966000000.00 966000000.00 0.00 18000000.00 0.00 444000000.00 2 4.27 4.24 0.00 0.00 4.27 4.24 Notes to the Statement of Consolidated Financial Results for quarter and year ended 31 March 2024 (All amounts in INR millions, except share data and where otherwise stated) 1. The above Consolidated financial results of the Group for the quarter and year ended 31 March 2024 have been prepared in accordance with recognition and measurement principles of Indian Accounting Standards ( Ind AS ) prescribed under Section 133 of the Companies Act, 2013, as amended, read with the relevant rules issued thereunder and in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. ( the regulations ). Due to rounding off, the numbers presented throughout may not add up precisely to the totals. ^ in the financial information denote amounts less than INR 0.50 million. 2. The Parent Company has been converted from Private Limited Company to Public Limited Company, pursuant to a special resolution passed in the extraordinary general meeting of the shareholders of the Parent Company held on 07 November 2022 and consequently the name of the Parent Company has changed to Indegene Limited pursuant to a fresh certificate of incorporation issued by the Registrar of Companies on 17 November 2022. 3. The above results have been reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on 29 May 2024. The auditors have carried out audit of the consolidated financial results for the year ended 31 March 2024 and have issued an unmodified opinion on the same. 4. The consolidated annual financial results include the results for the quarter ended 31 March 2024 and 31 March 2023 being the balancing figure between the audited figures in respect of the full financial year and the audited year to date figures up to 31 December 2023 and 31 December 2022, respectively. 5. The consolidated financial results for the quarter and year ended 31 March 2024, are available on the National Stock Exchange of India Limited (URL: www.nseindia.com), the BSE Limited website (URL: www.bseindia.com) and on the Company's website (URL: www.indegene.com/investor-relations). 6. Subsequent to the year end, the Company has completed Initial Public Offer (IPO) of 40,766,550 equity shares of face value of INR 2 each at an issue price of INR 452 per share, comprising fresh issue of 16,833,818 shares aggregating to INR 7,600 and offer for sale of 23,932,732 shares by selling shareholders aggregating to INR 10,818. The Equity Shares of the Company were listed on National Stock Exchange of India Limited (NSE) and BSE Limited (BSE) on 13 May 2024. Accordingly, the consolidated results for the quarter and year ended 31 March 2024 are drawn up for the first time. The Company was not mandatorily required to prepare and publish quarterly results for the period prior to quarter ended 31 March 2023 in accordance with the regulations. 7. During the current year, 547,322 options have been granted under Employee Restricted Stock Unit Plan 2020 (‘RSU 2020’), 488,013 options have been granted under Employee Stock Option Plan 2020 (‘ESOP 2020’) plan and 83,436 options have been granted under Company Share Option Plan 2022 (‘CSOP 2022’) plan to the eligible employee of the Company 587,269 options under RSU 2020 plan have been vested and exercised during the year. Note 8 and note 9 are updated in the Asset Liability Sheet. Multi segment 2023-04-01 2024-03-31 Audited Consolidated 25896000000.00 763000000.00 26659000000.00 0.00 0.00 0.00 16516000000.00 494000000.00 761000000.00 4326000000.00 22097000000.00 4562000000.00 24000000.00 4586000000.00 1255000000.00 -36000000.00 1219000000.00 0.00 3367000000.00 0.00 0.00 0.00 0.00 3367000000.00 79000000.00 3446000000.00 3446000000.00 0.00 79000000.00 0.00 444000000.00 2 0.00 15.19 15.07 0.00 0.00 15.19 15.07 Other Expenses 1059000000.00 Other Expenses 4326000000.00 1144000000.00 3330000000.00 1984000000.00 0.00 0.00 242000000.00 242000000.00 708000000.00 140000000.00 7548000000.00 0.00 7965000000.00 6480000000.00 1886000000.00 24000000.00 0.00 553000000.00 16908000000.00 1000000000.00 17908000000.00 25456000000.00 444000000.00 13847000000.00 14291000000.00 14291000000.00 3334000000.00 1290000000.00 4624000000.00 432000000.00 5056000000.00 697000000.00 1181000000.00 1715000000.00 3593000000.00 1710000000.00 678000000.00 128000000.00 6109000000.00 11165000000.00 25456000000.00 Notes 8 and 9 to the Statement of Consolidated Financial Results for quarter and year ended 31 March 2024 (All amounts in INR millions, except share data and where otherwise stated) 8. On 22 March 2024, the Group had obtained control of Trilogy Writing & Consulting GmbH (‘Trilogy GmbH’), Trilogy GmbH is a pure play high-end medical writing services provider to several large, mid-size and small pharma and biotech companies globally, by acquiring 100% of its shares. The acquisition was consummated for a consideration of INR 1,457 which includes earnout payment of INR 489. The contingent consideration is based on the performance of Trilogy GmbH during the fiscal year beginning 01 April 2024 and ending 31 March 2025 and range of contingent consideration payable is between INR Nil to INR 1,268. The Group has concluded that the acquired set is a business. The purchase price allocation for Trilogy GmbH is provisional and will be finalized within the measurement period, but in no event later than one year following the date of acquisition. The Group is in the process of making a final determination of the fair value of assets and liabilities, contingent consideration and useful lives of certain identified intangibles. 9. Exceptional items: On 12 October 2022, the Group had obtained control of Cult Health LLC by acquiring 100% interest to enhance the Group's commercialization portfolio adding market development and brand strategy competencies along with patient engagement platforms. The acquisition was consummated for a consideration of INR 5,347. The contingent consideration is based on the performance of Cult during the fiscal year beginning 01 April 2023 and ending 31 March 2026 and range of contingent consideration payable is between INR Nil to INR 3,040. Cult Health LLC is part of Omnichannel Activation segment. The Group carried out remeasurement of the change in fair value of contingent consideration towards earnout payout, which was measured at its fair value on acquisition and recognised a resultant gain of INR 935. Change in fair value movement of contingent consideration has been recognized as an exceptional item during the year ended 31 March 2024. Further, the Group also carried out the assessment of recoverable value of the investments made in Cult Health LLC owing to reduction in revenues from certain customers and its impact on the future cash flows. The recoverable amount of this CGU estimated to be lower than carrying value, resulting into an impairment charge of INR 911. The impairment charge has been recognized as an exceptional item during the year ended 31 March 2024. Notes to Assets and Liabilites: Property, plant and equipment includes Right-of-use assets of INR 804. Other non-current financial assets includes Loan of INR 135 and Other financial assets of INR 107 aggregating to INR 242. Other non-current asset includes Non-current tax assets of INR 45 and Other non-current asset of INR 95 aggregating to INR 140. Trade receivables, current includes Unbilled revenue of INR 923. Other non current financial liabilities includes lease liabilities (INR 652) and other financial liabilities of (INR 638) aggregating to INR 1290. Other current financial liabilities includes lease liabilities (INR 213) and other financial liabilities of (INR 1502) aggregating to INR 1715. Enterprise Commercial Solutions 3927000000.00 Enterprise Medical Solutions 1602000000.00 Omnichannel Activation 879000000.00 Others* 322000000.00 Enterprise Commercial Solutions 15287000000.00 Enterprise Medical Solutions 6008000000.00 Omnichannel Activation 3191000000.00 Others* 1410000000.00 6730000000.00 25896000000.00 0.00 0.00 6730000000.00 25896000000.00 Enterprise Commercial Solutions 990000000.00 Enterprise Medical Solutions 475000000.00 Omnichannel Activation 92000000.00 Others* -64000000.00 Enterprise Commercial Solutions 3627000000.00 Enterprise Medical Solutions 1679000000.00 Omnichannel Activation 256000000.00 Others* -213000000.00 1493000000.00 5349000000.00 123000000.00 494000000.00 35000000.00 Statement of consolidated cash flows includes following aggregation: 1.Cash flows from operating activities: a. Other adjustments to reconcile profit (loss) includes net gain on disposal / fair valuation of investments of INR -165. b. Other adjustments for non-cash items includes expected credit loss provision on trade receivables and advances of INR -54, Liability no longer required reversed of INR 60, Fair value movement of contingent consideration of INR -935 and Impairment of goodwill of INR 911. c. Adjustments for interest income includes both interest income and dividend income. d. Adjustments for decrease (increase) in other current assets includes both current and non current assets. e. Adjustments for increase (decrease) in other current liabilities includes other current liabilities, trade payables and other non current liabilities. f. Adjustments for provisions, current includes both current and non current provisions. 2.Cash flows from investing activities: a. Other cash payments to acquire equity or debt instruments of other entities consists of Payment for acquisition of business, net of cash acquired. b. Cash advances and loans made to other parties consists of Investment in convertible loan. c.Other inflows (outflows) of cash includes Purchase of Investments accounted for using the FVTPL of INR 16,914, Redemption of Investments of INR 15,246 and Redemption / maturity of fixed deposit of INR 98. The Segment results of the Group has been prepared in accordance with AS-108 on Operating Segments . The Group has identified business segments (industry practice) as reportable segments. The business segments comprise: 1) Enterprise Medical Solutions, 2) Enterprise Commercial Solutions, 3) Omnichannel Activation. *Others mainly comprises of consultancy and clinical business. Notes on Segment information Operating segments are identified as components of an enterprise for which discrete financials information is available that is evaluated regularly by the chief operating decision maker. In deciding how to allocate resources and assessing performance, the Group's chief operating decision maker is the Chief Executive Officer and Executive Director. Assets and liabilities used in the Group’s business are not identified to any of the operating segments, as these are used interchangeably between segments. Management believes that it is currently not practicable to provide segment disclosures relating to total assets and liabilities since a meaningful segregation of the available data is onerous. Other unallocable expenditure net of unallocable income for the quarter ended 31 March 2024 includes depreciation and amorisation expense (INR 185), unallocable expense (INR 106) net of Other income (INR 232) and exceptional items (INR 24) aggregating to INR 35. Other unallocable expenditure net of unallocable income for the year ended 31 March 2024 includes depreciation and amorisation expense (INR 761), unallocable expense (INR 295) net of Other income (INR 763) and exceptional items (INR 24) aggregating to INR 269. 269000000.00 1335000000.00 4586000000.00 Enterprise Commercial Solutions 0.00 Enterprise Medical Solutions 0.00 Omnichannel Activation 0.00 Others* 0.00 0.00 Enterprise Commercial Solutions 0.00 Enterprise Medical Solutions 0.00 Omnichannel Activation 0.00 Others* 0.00 0.00 471000000.00 0.00 312000000.00 0.00 -301000000.00 0.00 0.00 0.00 0.00 0.00 0.00 742000000.00 0.00 761000000.00 0.00 205000000.00 0.00 0.00 0.00 -64000000.00 0.00 296000000.00 213000000.00 0.00 0.00 0.00 -165000000.00 -138000000.00 0.00 1740000000.00 6326000000.00 0.00 0.00 0.00 1249000000.00 0.00 5077000000.00 0.00 0.00 0.00 1721000000.00 0.00 0.00 0.00 0.00 0.00 107000000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 135000000.00 0.00 0.00 0.00 0.00 261000000.00 0.00 -1570000000.00 0.00 -3272000000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 67000000.00 0.00 279000000.00 0.00 316000000.00 0.00 0.00 -662000000.00 1143000000.00 7000000.00 1150000000.00 736000000.00 1886000000.00 'Remeasurement of defined benefit obligation -2000000.00 'Remeasurement of defined benefit obligation 0.00 -2000000.00 0.00 -1000000.00 0.00 Exchange differences on translating the financial statements of foreign operations 19000000.00 Exchange differences on translating the financial statements of foreign operations 79000000.00 19000000.00 79000000.00 0.00 0.00