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Quint Digital Ltd. Notes to Accounts
Search Company 
You can view the entire text of Notes to accounts of the company for the latest year
Market Cap. (Rs.) 223.76 Cr. P/BV 1.20 Book Value (Rs.) 39.68
52 Week High/Low (Rs.) 85/43 FV/ML 10/1 P/E(X) 0.00
Bookclosure 27/09/2024 EPS (Rs.) 0.00 Div Yield (%) 0.00
Year End :2025-03 

t) Provisions and Contingent liabilities

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 a reliable
estimate can be made of the amount of the obligation.
Provisions are measured at the best estimate of the
expenditure required to settle the present obligation
at the Balance Sheet date. If the effect of the time
value of money is material, provisions are determined
by discounting the expected future cash flows to net
present value using an appropriate pre-tax discount
rate that reflects current market assessments of the
time value of money and, where appropriate, the
risks specific to liability.

Contingent liability is disclosed for:

• Possible obligations which will be confirmed
only by future events not wholly within the
control of the Company; or

• Present obligations arising from past events where
it is not probable that an outflow of resources will
be required to settle the obligation or a reliable
estimate of the amount of the obligation cannot
be made. Contingent assets are not recognized.
However, when inflow of economic benefits is
probable, related assets are disclosed.

u) Contingent assets

Contingent assets are not recognised in the financial
statements since this may result in the recognition of
income that may not be realised. However, when the
realisation of income is virtually certain, then the related
asset is not a contingent asset and is recognised.

v) Trade and other payables

These amounts represent liabilities for services
provided to the company prior to the end of the
financial year which are unpaid. The amounts are
unsecured and are usually paid within 30 days
of recognition. Trade and other payables are
presented as current liabilities unless payment is
not due within 12 months after the reporting period.
They are recognised initially at their fair value and
subsequently measured at amortized cost using the
effective interest method.

w) Financial liabilities

Financial liabilities are measured at amortised cost
using the effective interest method. The Company
de-recognises financial liabilities when and only
when, the Company's obligations are discharged,
cancelled or have expired. The difference between
the carrying amount of the financial liability de¬
recognised and the consideration paid and payable
is recognised in Statement of Profit and Loss.

x) Borrowing

Borrowings are initially recognized at fair value,
net of transaction costs incurred. Borrowings are
subsequently measured at amortized cost. Any
difference between the proceeds (net of transaction
costs) and the redemption amount is recognised
in profit or loss over the period of the borrowings
using the effective interest method. Fees paid on
the establishment of loan facilities are recognised as
transaction costs of the loan to the extent that it is
probable that some or all of the facility will be drawn
down. In this case, the fee is deferred until the draw¬
down occurs. To the extent there is no evidence that
it is probable that some or all of the facility will be
drawn down, the fee is capitalised as a prepayment
for liquidity services and amortized over the period
of the facility to which it relates.

Borrowings are removed from the balance sheet
when the obligation specified in the contract is
discharged, cancelled or expired. The difference
between the carrying amount of a financial liability
that has been extinguished or transferred to another
party and the consideration paid, including any non¬
cash assets transferred or liabilities assumed, is
recognised in profit or loss as other gains/(losses).

Borrowings are classified as current liabilities unless
the company has an unconditional right to defer
settlement of the liability for at least 12 months after
the reporting period. Where there is a breach of a
material provision of a long-term loan arrangement
on or before the end of the reporting period with
the effect that the liability becomes payable on
demand on the reporting date, the entity does not
classify the liability as current, if the lender agreed,
after the reporting period and before the approval
of the financial statements for issue, not to demand
payment as a consequence of the breach.

Borrowing costs that are directly attributable to
the acquisition or construction of qualifying assets
are capitalised as part of the cost of such assets.
A qualifying asset is one that necessarily takes
substantial period of time to get ready for its intended
use. Other borrowing costs are charged to the
Statement of Profit and Loss in the period in which
they are incurred.

y) Segment Reporting

Operating segments are reported in a manner
consistent with the internal reporting provided to the
chief operating decision maker.

z) Rounding off amounts

All amounts disclosed in the financial statement
and notes to accounts have been rounded off to
the nearest thousands as per the requirement of
Schedule III, unless otherwise stated.

3 Significant accounting judgements, estimates and

assumptions

The preparation of financial statements in conformity

with Ind AS requires management to make judgements,

estimates and assumptions that affect the application
of accounting policies and the reported amount of
assets, liabilities, income, expenses and disclosures
of contingent assets and liabilities at the date of these
financial statements and the reported amount of revenues
and expenses for the years presented. Actual results
may differ from the estimates. Estimates and underlying
assumptions are reviewed at each balance sheet date.
Revisions to accounting estimates are recognized
in the period in which the estimates are revised and
future periods affected. In particular, information about
significant areas of estimation uncertainty and critical
judgements in applying accounting policies that have the
most significant effect on the amounts recognized in the
financial statements includes:

• Measurement of defined benefit obligations (DBO)-
refer note 29

• Estimation of useful lives of property, plant and
equipment and intangible assets

• Estimated fair value of investments in unlisted non¬
convertible debentures

• Evaluation of indicators for impairment of non¬
current investments

• Determination of lease term

• Allowance for expected credit loss on trade
receivables- refer note 36.1

• Measurement of share-based payments - refer note 38

• Estimation of current tax expense, current tax
payable and uncertain tax position - refer note 28

• Capitalization of internally developed intangible
assets- refer note 46

2.4 Recent Accounting Pronouncements

Ministry of Corporate Affairs (“MCA”) notifies new
standards or amendments to the existing standards
under Companies (Indian Accounting Standards) Rules as
issued from time to time. For the year ended March 31,
2025, MCA has notified Ind AS - 117 Insurance Contracts
and amendments to Ind AS 116 - Leases, relating to sale
and leaseback transactions, applicable to the Company
w.e.f. April 1, 2024. The Company has reviewed the
new pronouncements and based on its evaluation has
determined that it does not have any significant impact on
its financial statements.

Note:

(a) During the year ended March 31, 2025, the Company made an acquisition of the entire stake in Quintype Technologies
India Limited (‘QTIL'), which was held by ‘360 One Seed Ventures Fund - Series 2' (formerly IIFL Seed Ventures Fund -
Series 2) for a consideration of Rs. 254,287 thousands on July 30, 2024.

On October 17, 2024, the stake held by Quintillion Media Limited, (a wholly owned subsidiary of Quint Digital Limited,
which got merged with Quint Digital Limited pursuant to Scheme of arrangement as mentioned in Note 49), and Quint
Digital Limited in QTIL was transferred to GMT Inc. for an aggregate consideration of Rs. 715,793 thousands. Consequently,
QTIL became a subsidiary of GMT Inc, USA.

(b) During the year ended March 31, 2025, the Company acquired Common Stocks of Global Media Technologies Inc (‘GMT,
Inc'), a wholly owned subsidiary of the Company, having a par value of $0.10 per share, as mentioned below:¬
- On April 05, 2024 : 23,000,000 fully paid shares of Common Stock for Rs. 193,430 thousands ($2,300,000)

- On October 15, 2024: 90,500,000 fully paid shares of Common Stock for Rs. 762,010 thousands ($9,050,000); and

- On November 05, 2024: 55,545,000 fully paid shares of Common Stock for Rs. 468,189 thousands ($5,554,500)

(c) During the year ended March 31, 2025, the Board of Directors of the Company in their meeting held on February 07,
2025, approved to make investment up to Rs. 21,263 thousands to acquire 34,451 equity shares (i.e. 77.5% stake),
on fully diluted basis, in Shvaas Creations Private Limited (“Shvaas”). Accordingly, as per phased investment plan in
accordance with share subscription and shareholder's agreement, the Company has invested Rs. 11,704 thousands in
Shvaas on February 07, 2025. Consequently, Shvaas became a subsidiary of the Company. The remaining investment
would be made in due course in accordance with share subscription and shareholder's agreement.

(d) The Company has a remaining capital commitment of Rs. 9,660 thousands (Previous year: Rs. 9,660 thousands) towards
investment in Spunklane Media Private Limited under the Share Subscription and Shareholders' Agreement dated
January 21, 2023. The balance amount is to be remitted within 30 months from the agreement date.

(e) During the year ended March 31, 2025, two external investors have infused equity share capital into ‘Spunklane Media
Private Limited', an associate of the Company. Consequently, the Company's shareholding in the said associate company
has decreased from 47.92% to 44.71%.

*Mutual funds and debentures are pledged with bank and non banking financial companies (NBFC) for credit and general
corporate facility amounting to Rs. 1,658,365 thousands and Rs. 1,913,520 thousands as at March 31, 2025 and March 31, 2024
respectively.

$Mutual funds are partly pledged with bank and non banking financial companies (NBFC) for credit and general corporate
facility amounting to Rs. 116,017 thousands and Rs. 131,438 thousands as at March 31, 2025 and March 31, 2024 respectively

#Mutual funds are partly pledged with bank and non banking financial companies (NBFC) for credit and general corporate
facility amounting to Rs. 218,763 thousands and Rs. 129,363 thousands as at March 31, 2025 and March 31, 2024 respectively

b Rights, preferences and restrictions attached to equity shares

The Company has only one class of equity shares having the par value of Rs. 10 per share. Each holder of equity share
is entitled to one vote per share. All shareholders are equally entitled to dividends. The Company will declare and pay
dividend in Indian Rupees, if any. In the event of liquidation of the Company, the holders of the equity shares will be
entitled to receive remaining assets of the Company, after payment of all liabilities. The distribution will be in proportion
to the number of equity shares held by the shareholders. The dividend, if any, proposed by the Board of Directors will be
subject to the approval of the shareholders in the ensuing annual general meeting.

e Share options granted under the Company’s employee share option plan:

The Company has reserved issuance of 4,91,500 (previous year: 8,61,800) equity shares of Rs. 10 each for offering to
eligible employees in the employment of the Company under Employees Stock Option Scheme (ESOS). Refer note no
38 for disclosures on share based payments.

f Aggregate number of bonus shares issued, shares issued for consideration other than cash during the period of five
years immediately preceding the reporting date:

During the year ended March 31, 2021, the Company had capitalized the securities premium as at December 31,
2020, and issued 10,975,404 equity shares of Rs. 10 each as fully paid-up bonus shares in the ratio of 1:1. Other
than this, no shares have been issued for consideration other than cash or as bonus shares during the year ended
March 31, 2025 and the five years immediately preceding it. Further, no shares have been bought back during the
said period.

Notes:

(i) Business investment facility up to Rs. 350,000 thousands (previous year: Rs. Nil ) from ICICI Bank Ltd carrying an interest
at 8.50% p.a. (previous year: Rs. Nil) and is repayable in eight monthly equal installment starting from September 30,
2024. The outstanding balance as on March 31, 2025 is Rs. 217,990 thousands (previous year: Rs. Nil ). The facility is
secured by hypothecation of bonds and debt mutual funds. The loan have been personally guaranteed by Raghav Bahl
(Director).

(ii) Business investment facility up to Rs. 200,000 thousands (previous year: Rs. Nil ) from ICICI Bank Ltd carrying an interest
at 8.50% p.a. (previous year: Nil) and is repayable in eight monthly equal installment starting from June 30, 2025. The
outstanding balance as on March 31, 2025 is Rs. 200,000 thousands (previous year: Rs. Nil). The facility is secured by
hypothecation of bonds and debt mutual funds.The loan have been personally guaranteed by Raghav Bahl (Director).

(iii) General corporate purpose facility up to Rs. 240,000 thousands (previous year: Rs. 240,000 thousands) from 360 One
Prime Limited carrying an interest at 10.75% p.a. (previous year: 10.75% p.a.) and is repayable at the end of tenure of
the said facility. The outstanding balance as on March 31, 2025 is Rs. 40,000 thousands (previous year: Rs. 129,339
thousands). The facility is secured by hypothecation of bonds and debt mutual funds held by Company. The loan have
been personally guaranteed by Raghav Bahl (Director) .

(iv) Business investment and working capital facility up to Rs. 490,000 thousands (previous year: Rs. 500,000 thousands)
from Credit Suisse Finance India Private Ltd carrying an interest at 9.50% p.a. (previous year: 9% - 9.50% p.a.) and is
repayable at the end of 36 months from facility schedule executed on April 28, 2023. The outstanding balance as on
March 31, 2025 is Rs. 212,859 thousands (previous year: Rs. 389,075 thousands). The facility is secured by hypothecation
of bonds and debt mutual funds held by Company. The loan have been personally guaranteed by Raghav Bahl (Director)
and Ritu Kapur (Managing Director).

(i) Secured loan of up to Rs. 50,000 thousands (previous year: Rs. 20,000 thousands) from Barclays Bank PLC carrying
an interest rate at 8.50% p.a. (previous year: 8.50%) has been sanctioned. This is repayable subject to maximum
period of 12 months from disbursement. The outstanding balance as on March 31, 2025 is Rs. 20,000 thousands
(previous year: Rs. 20,000 thousands). The facility is secured by hypothecation of debt mutual funds held by
Company.

(ii) Working Capital facility of up to Rs. 14,250 thousands (previous year: Rs. 356,250 thousands) from Kotak Mahindra
Bank carries an interest at 7.90% - 8.20% p.a. (previous year 7.90% - 8.20% p.a.) has been sanctioned. The outstanding
balance as on March 31, 2025 is Rs. 1,024 thousands (previous year: Rs. 337,166 thousands). The facilities are
secured by a charge over fixed deposits of Rs. 15,507 thousands (previous year: Rs. 375,000 thousands).

(iii) Working Capital facility of up to Rs. 50,000 thousands (previous year: Rs. 50,000 thousands) from HDFC Bank
carries an interest at 8.30% p.a. (previous year 8.30%) has been sanctioned. The outstanding balance as on March
31, 2025 is Rs. 47,333 thousands (previous year: Rs. 878 thousands). The facilities are secured by a charge over
fixed deposits of Rs. 56,638 thousands (previous year: Rs. 55,000 thousands).

(iv) Cash credit facility upto Rs. 100,000 thousands (previous year: Rs. 100,000 thousands) from Kotak Mahindra Bank
carries an Interest rate 8.50% p.a. (previous year: 8.50% p.a.). The outstanding balance as on march 31, 2025 of Rs.
Nil (previous year: Rs. 43,264 thousands). The facility is secured by a charge over Mutual fund.

(v) Business investment and working capital facility up to Rs. 1,500,000 thousands (previous year: Rs. 1,000,000
thousands) from Barclays Investment and Loans India Private Limited carrying an interest at 9.10% - 9.55% p.a.
(previous year: 8.80% - 9.35%) has been sanctioned . This is repayable subject to maximum period of 12 months
from the date of disbursement. The outstanding balance as on March 31, 2025 is Rs. 787,000 thousands (previous
year: Rs. 998,241 thousands). The facility is secured by hypothecation of bonds and debt mutual funds held by
Company.

(vi) Business investment and working capital facility up to Rs. 500,000 thousands (previous year: Rs. 500,000
thousands) from Deutsche Investments India Private Limited carrying an interest at 9.15% - 9.27% p.a. (previous year:
8.25% - 9.15% p.a. ) has been sanctioned. This is repayable subject to maximum period of 12 months from the date
of disbursement. The outstanding balance as on March 31, 2025 is Rs. Nil (previous year: Rs. 112,500 thousands).
The facility is secured by hypothecation of bonds and debt mutual funds held by Company. The loan have been
personally guaranteed by Raghav Bahl (Director).

(vii) The borrowings up to Rs. 6,000,000 thousands subject to available borrowing limit with company under section
180(1)(c) (previous year: Rs. 6,000,000 thousands) for the purpose of business investment and working capital
requirement from RB Diversified Private Limited, a related party has been sanctioned. carrying an interest at 11.25%
p.a. (previous year: 11.25% p.a.). This is repayable in 12 months from the date of disbursement. The outstanding
balance as at March 31, 2025 is Nil (previous year: Rs. 150,000 thousands). The facility is unsecured. Also refer note
29 and 48.

(viii) The Company is not required to submit any financials information to the banks as per sanction letter entered into
with respective banks/financial institutions.

Notes:

(a) Expenses relating to merger: For the Scheme of arrangement as given in Note 49, the Company has incurred certain
expenses of Rs. 8,025 thousands (Previous year: Rs. 1,575 thousands) in pursuance of above mentioned Scheme during
the year ended March 31, 2025. These expenses are disclosed as an exceptional item during the current year.

(b) Impairment of capitalised video cost: On June 15, 2024, the Company had decided to restructure its business model
wherein the Company will focus on enterprise articles/features/videos, written/produced by high-caliber journalists/
experts. This original, high-quality content will be used to drive subscriptions and pay revenues, which are expected
to build up into a new revenue source, along with the existing operations in branded content and ad sales. Pursuant to
said restructuring, the Company has decided to be available only in English across multiple platforms. Accordingly, the
“Quint Hindi” website was discontinued with effect from February 05, 2025, and Quint YouTube channel of Quint Hindi
(i.e., ‘Quint Hindi'), was sold on February 07, 2025

Further, owing to the aforesaid restructuring of the business model and the continuous fall in viewership, management
re-assessed the ‘value in use' of capitalized content development cost. Accordingly, the management decided to impair
the capitalized cost amounting to Rs. 115,469 thousands and the same is disclosed as exceptional items in the standalone
financial statement for the year ended March 31, 2025.

(c) Reversal of provision of diminution in the value of investment in an erstwhile subsidiary: Quintillion Media Limited
(now merged with its holding company Quint Digital Limited) entered into a Share Purchase Agreement on November 1,
2023, and in terms of the agreement it has completed the divestment of the remaining 51% stake in Quintillion Business
Media Limited (“QBM”) to AMG Media Networks Limited (“AMG Media”). On account of the consummation of the share
sale transaction, QBM ceased to be a step-down subsidiary of the Company w.e.f December 8, 2023.

51% stake was sold for a consideration of Rs. 5,24,510 thousands. This transaction has resulted in profit of Rs. 1,21,774 thousands
to the Company and a write back of provision for diminunition in investment of Rs. 1,91,469 thousands (shown as exceptional
gain) in its profit and loss account. In terms of the agreement, out of total sale consideration, the Company has received Rs.
3,311 thousands in its bank, Rs. 753 thousands had been retained by the purchaser AMG Media against the outstanding
debtors to be recovered and Rs. 520,000 thousands had been booked as a loan to AMG Media at an interest rate of 8%.

(c) All outstanding balances are unsecured and repayable in cash.

(d) During the year ended March 31, 2025 and March 31, 2024, the board of directors of the Company issued a letter
of support to board of directors of Quintype Technologies India Limited.

(e) The Company uses rent free premises as its registered address provided by a director (Mr. Mohan Lal Jain) during
current year and previous year.

(f) The directors of the Company i.e. Raghav Bahl (Director) and Ritu Kapur (Managing Director) have given personal
guarantee for certain borrowings taken by the Company (Refer note 14)

(g) Commitments to related party has been disclosed in note no. 41 (b).

- The carrying amount of loans, trade receivables, cash and cash equivalents, other financial assets, borrowings, lease
liabilities, trade payables and other current financial liabilities approximate the fair value due to their short-term nature.

- Borrowings, taken by the Company are as per the Company's credit and liquidity risk assessment and there is no
comparable instrument having the similar terms and conditions with related security being pledged and hence the
carrying value of the borrowings represents the best estimate of fair value.

- The fair value of investment in mutual funds and non convertible debentures are measured either at quoted price or fair
value at the reporting date.

36.1 Credit risk

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial asset fails to meet its
contractual obligations. The Company's exposure to credit risk is influenced mainly by the individual characteristics of each
financial asset. The management also considers the factors that may influence the credit risk of its customer base, including
the default risk etc. The carrying amounts of financial assets represent the maximum credit risk exposure.

A default on a financial asset is when the counterparty fails to make contractual payments as per agreed terms. This definition
of default is determined by considering the business environment in which entity operates and other macro-economic factor.

The Company monitors its exposure to credit risk on an ongoing basis.

The Company closely monitors the credit-worthiness of the receivables through internal systems that are configured to define
credit limits of customers, thereby, limiting the credit risk to pre-calculated amounts. The Company uses a simplified approach
(lifetime expected credit loss model) for the purpose of computation of expected credit loss for trade receivables.

The credit risk in loans to related parties and other financial assets is low and therefore no allowance has been recognized.
The loss allowances for financial assets are based on assumption about risk of default and expected loss rates. The company
uses judgement in making these assumptions and selecting the impact to the impairment calculation.

36.2 Liquidity risk

Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial
liabilities that are settled by delivering cash or another financial asset. The Company's approach to managing liquidity is to
ensure, that it will have sufficient liquidity to meet its liabilities when they are due.

Management monitors the Company's liquidity position and cash and cash equivalents on the basis of expected cash flows.
The Company takes into account the liquidity of the market in which the entity operates.

#Impact on the statement of profit and loss and equity on account of exchange rate increase by 1% Rs. 0.05 thousands
(previous year: Rs. 0.37 thousands) and exchange rate decrease by 1% Rs. (0.05 thousands) (previous year: Rs. (0.37
thousands)).

37 Capital management

(a) Risk management

The Company's objectives when managing capital are:

- To ensure Company's ability to continue as a going concern, and

- To maintain optimum capital structure and to reduce cost of capital

Management assesses the capital requirements in order to maintain an efficient overall financing structure. The Company
manages the capital structure and makes adjustments to it in the light of changes in economic conditions and the risk
characteristics of the underlying assets. The Company is not subject to externally imposed capital requirements. The
Company manages its capital requirements by overseeing the gearing ratio:

Loan Covenants

Under the terms of the major borrowing facilities, the Company does not have to comply with any financial
covenants.

(b) Dividends

All shareholders are equally entitled to dividends. This reserve is available for distribution to shareholders in accordance
with provisions of Companies Act, 2013. The Company has not declared or paid any dividend during the year ended
March 31, 2025 and previous year ended March 31, 2024.

:8 Share based payments

(a) Employee Option Plan

The Company, vide the resolution passed at the meeting of Nomination and Remuneration Committee (“NRC”), dated
January 29,2021, approved ‘QDML ESOP Plan 2020' for granting employee stock options in the form of equity shares,
linked to the completion of a minimum period of continued employment, to the eligible employees of the Company. The
Members of the Company have approved the Scheme through postal ballot on January 16, 2021. The eligible employees,
for the purpose of this scheme are determined by the NRC. Each stock option entitles the eligible employee to avail one
share at the end of the vesting period.

The vested options can be exercised between a period from the vesting date to a period not later than 8 (Eight) years
from the date of Grant of Options.

(b) Fair value of option granted

The total amount to be expensed over the vesting period is determined by reference to the fair value of the options
granted. The fair values of options granted were determined using Black-Scholes option pricing model that takes into
account factors specific to the share incentive plans along with other external inputs. Expected volatility has been
determined by reference to the average volatility for comparable companies for corresponding option term. Total
Company share based payment to employees amounting Rs. (2,463) thousands for the year ended March 31, 2025
( Previous year: Rs. 10,640 thousands) is recognized in the statement of profit and loss of the Company pertaining to
options issued to employees of the Company. Each Option entitles the holder thereof to apply for and be allotted one
Ordinary Shares of the Company upon payment of the exercise price during the exercise period. The exercise period
commences from the date of vesting of the Options and expires at the end of eight years from grant date.

The following principal assumptions were used in the valuation:

- The expected option life and average expected period to exercise, is assumed to be equal to the contractual
maturity of the option.

- The risk-free rate is the rate associated with a risk-free security with the same maturity as the option.

- Volatility is concluded based on the historical volatility of guideline company wide volatility in stock returns. The
length of time considered is matched to the duration of the tranche of the option.

39 Leases

The Company's lease asset class primarily consists of leases for buildings and plant and machinery. The rental contracts are
typically made for fixed period of 2 to 5 years. With the exception of leases of low-value and cancellable long-term leases,
each lease is reflected on the balance sheet as a right of use asset and a lease liability. These lease contracts do not contain
any variable payment terms.

Lease liabilities are measured at the present value of the remaining lease payments, discounted using the incremental
borrowing rate on the date of adoption, i.e., 8.18-9.00%.

Notes:

(i) In the previous financial year, the Goods and Services Tax (GST) authority issued a demand order amounting to Rs.
7,647 thousands against Quintillion Media Limited (now merged with Quint Digital Limited) on account of excess
claim of input tax credit. The Company contested this demand by filing an appeal with the Additional Commissioner
of GST (Appeals) and deposited Rs. 544 thousands under protest. In the current financial year, the case has been
resolved without the imposition of any monetary liability and amount deposited with the authority in previous year
is received back during the year.

(ii) Company has received a demand amounting to Rs 1,136 thousands (Previous year: Rs 658 thousands) from its vendor.
The Company has raised a dispute on account of non- performance of the obligation as per the arrangement entered
with the vendor. The Company strongly believes that no payment will be required to be made on the basis of non
performance of agreed parameters.

(iii) During the previous year, the Company has received a claim from its existing shareholder amounting to Rs 1,900
thousands on account of non-issue of right issue share. During the current year, the Company and the said shareholder
went for conciliation wherein the said shareholder agreed to settle the claim in Rs. 96 thousands as compensation.

In relation to all of the above matters, the Management believes that the outcome of the contingencies will be
favourable and outflow of economics resources is not likely. Accordingly, no provision has been recorded in the
financial statements and the same is disclosed as contingent liability.

42 Event occurring after the reporting period

(i) The Board of Directors in its meeting held on April 30, 2025 has approved the proposal for listing the equity shares
of the Company on National Stock Exchange (NSE). The listing is subject to necessary approvals from shareholders,
regulators, and the respective stock exchange. This proposed listing does not have any impact on the standalone
financial results for the quarter and year ended March 31, 2025.

(ii) On completion of vesting period for Stock Options granted pursuant to the QDL ESOP Plan, the Company has received
application from covered employees for allotment of equity shares. The Board of Directors vide a resolution passed by
way of circulation dated 04 April, 2025, approved the allotment of 25,500 equity shares of the Company at the issue
price of Rs. 14.90 having face value of Rs. 10 at issue price.

The matter does not have any impact on the financial Statements for year ended 31 March, 2025.

(iii) The Board of Directors in its meeting held on April 30, 2025 approved raising capital by way of issuance of equity
shares and/or equity linked securities by way of Qualified Institutions Placement (“QIP”) for an aggregate amount not
exceeding Rs. 2,500,000 thousands (Rupees Two Hundred and Fifty Crore only), subject to the approval of members
of the Company and regulatory compliance, if any. This matter does not have any impact on the standalone financial
statement for year ended March 31, 2025.

43 During the current financial year 2024-2025, the Company has realized significant income from financial assets
(including investments) due to which the income from financial assets of the Company is more than 50 percent of the
gross income for the current year and the Company's financial assets are more than 50 percent of the total assets as
at March 31, 2025.

The significant increase in investment income as compared to core operational income is one-off activity in the
financial year 2024-2025 and not expected to recur in the ensuing financial years. Considering the management
forecasts for financial year 2025-2026 onwards, the management anticipates that the operational income would
exceed more than 50 percent of the gross income for financial year 2025-2026 onwards, and accordingly this has
been considered as an one-off scenario as at March 31, 2025, and not reflective of the Company's core operations or
long-term business model.”

44 Segment information

(a) Reportable Segment

In line with provisions of Ind AS 108-Operating segments, the Company is engaged in media operations for its customers
in India and overseas which constitute single reportable business segment as reviewed by the Chief Operating Decision
Maker (CODM).

*The amount of Rs. 385 thousands (Previous year: Rs. 1,153 thousands) has been paid to Sarthak Education Trust registered
under 12A of Income Tax Act 1961 for educational purpose (Digital Literacy Program with Person with Disabilities) during the
year ended March 31, 2025.

*The amount of Rs. 500 thousands (Previous year: Rs. Nil) has been paid to Shanti Narayan Memorial Trust registered under
12A of Income Tax Act 1961 for Infrastructure Development Support for running a school- Gyan Shakti Vidyalaya during the
year ended March 31, 2025.

46 Capitalisation of Video cost

“During the previous year, the Company created different kinds of content videos in covering multiple genres like
documentaries, entertainment, sports, lifestyle, news etc. for its viewers. These videos are viewed over different platforms
like YouTube, Facebook, its own website and through its channel partners.

It receives inputs from primary sources like news reporter, investigations etc., and secondary sources like Wire Services -Asian
News International, Press Trust of India, Social Media platforms like Facebook or twitter. Based on inputs received the creative
team creates the content videos and then publish the same on various platforms.

In accordance with Ind AS 38 “’’Intangible Assets””, the videos created met the definition of an asset as:

- The Videos are controlled by the Company as it retains the Intellectual Property Rights of these videos and it decides the
platforms on which these will be posted for public viewership.

- It has the rights to remove these videos from these platforms as per its discretion.

- The economic benefits flow only to the Company, which are either direct economic benefit i.e. Partner/Programmatic
revenue which is generated by monetization of these videos on various platforms based on viewership or Direct Selling
of display advertisement revenue, which is generated for placement of various advertisements on Quint's website or
other platforms. Both of the revenues are related to content videos as these videos generate viewership.

The cost of video include direct expenses such as video crew, production costs, editing, visual effects and production
overhead costs such as studio rent etc. It also includes on proportionate basis production-related administrative costs, if
directly attributable and costs of employee benefits i.e. cost of Creative Team or production team working directly on creation
of these videos.

The video cost had been assumed to have a life of 4 years and is to be amortized from the date of its publishing, 60% of the
cost capitalized in the first year of video being published , 20% in the second year and 10% each in next 2 years. If a video,
in later year, is found to be not generating any economic benefit it could be decided by the management to be written off
completely in that year itself.

During the current year, due to the continuous fall in viewership the Company restructuring of the business model and,
management re-assessed the ‘value in use' of capitalized content development cost. Accordingly, the management decided
to impair the capitalized cost amounting to Rs. 115,469 thousands as mentioned in note 27 (b)

47 Rights issue

(a) In the FY 2022-23, pursuant to the basis of allotment for the Rights Issue approved by the BSE Limited, the Board
of Directors in their meeting held on January 31, 2023, allotted 2,50,00,000 fully paid-up equity shares of the
Company, having face value of Rs. 10 (Indian Rupee Ten) each in dematerialized form at an issue price of Rs. 50
(Indian Rupees Fifty Only) per equity share.

Pursuant to the above allotment, the Issued and Paid-up Equity Share Capital of the Company increased from existing
Issued, Paid-up, Admitted and Listed Equity Share Capital of the Company of Rs. 2,19,698 thousands divided into
2,19,69,808 Equity Shares of Rs. 10 each to Rs. 469,698 thousands divided into 4,69,69,808 Equity Shares of Rs. 10 each.

The Company has incurred an expense of Rs. 14,828 thousands for the purpose of rights issue which has been
netted off from security premium during the year ended March 31 2023.

Of the unutilized right issue proceeds, there is no balance lying in Monitoring Agency Account as at March 31, 2024. The
unutilized right issue proceeds have been kept in fixed deposits and current account maintained with Kotak Mahindra Bank.

**As per monitoring agency report.

18 Other statutory information

(a) The Company is not a declared wilful defaulter by any bank or financial Institution or other lender, in accordance with
the guidelines on wilful defaulters issued by the Reserve Bank of India, during the year ended March 31, 2025 and
March 31, 2024.

(b) No proceedings have been initiated or pending against the Company for holding any benami property under the Benami
Transactions (Prohibition) Act, 1988 and rules made thereunder, as at March 31, 2025 and March 31, 2024.

(c) The Company has not traded or invested in crypto currency or virtual currency during the year ended March 31, 2025
and March 31, 2024.

(d) There is no immovable property whose title deed is not held in the name of the company during the year ended March
31, 2025 and March 31, 2024.

(e) There have been no transactions which have not been recorded in the books of account, that have been surrendered
or disclosed as income during the year ended March 31, 2025 and March 31, 2024, in the tax assessments under the
Income Tax Act, 1961. There have been no previously unrecorded income and related assets which were to be properly
recorded in the books of account during the year ended March 31, 2025 and March 31, 2024.

(f) The Company does not have any transactions with the Companies struck off under section 248 of Companies Act, 2013
or section 560 of Companies Act, 1956 during the year ended March 31, 2025 and March 31, 2024.

(g) The Company have not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign
entities (Intermediaries) with the understanding that the Intermediary shall :

(i) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf
of the company (Ultimate Beneficiaries) or

(ii) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

(h) The Company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with
the understanding (whether recorded in writing or otherwise) that the Company shall:

(i) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf
of the Funding Party (Ultimate Beneficiaries) or

(ii) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

(i) The Company has entered into scheme of arrangement (refer note: 49) which has an accounting impact on current or
previous financial year.

(j) The Company does not own any immovable property (including investment properties) other than properties where the
company is the lessee and the lease agreement are duly executed in favor of the lessee during the year ended March
31, 2025 and March 31, 2024.

49 Scheme of Merger

a The Board of Directors of the Company, at its meeting on August 14, 2023, has considered and approved the Scheme
of Arrangement amongst the Quint Digital Limited (Transferee Company/QDL) and Quintillion Media Limited, a wholly
owned subsidiary (Transferor Company/QML) and their respective shareholders and creditors pursuant to the provisions
of sections 230 to 232, Section 66 and other applicable provisions of the Companies Act, 2013. This Scheme seeks
to undertake an (a), Amalgamation (merger by way of absorption) of QML, on a going concern basis, with that of
QDL, being 100% holding company of QML; and (b) Reduction of capital of QDL in the manner set out in this Scheme.
The scheme was approved by Hon'ble National Company Law Tribunal, New Delhi Bench-II on March 10, 2025 and
became effective on March 28, 2025 upon completion of all the formalities. Consequent to the amalgamation prescribed
by the Scheme, all the assets and liabilities of the specified business were transferred to and vested in the Company with
effect from April 01, 2023 (“the Appointed Date”).

The amalgamation was accounted under the “pooling of interest” method prescribed under Ind AS 103 - Business
Combinations. As prescribed by the Scheme no consideration was paid as the transferor is a wholly owned subsidiary
of the Company.

54 The feature of recording audit trail (edit log) facility was not enabled at the application layer to log any direct data changes for
the software used for maintaining the books of account relating to payroll, which is operated by third party software service
provider. ‘Independent auditor's report in relation to controls at the service organisation' (SOC 2 Type II report) from third party
software service provider were also not available to see whether the audit trail feature of payroll software at the database
level was enabled and operated throughout the year for all relevant transactions recorded in the payroll software.

55 The comparative financial figures relating to the previous year as presented in these standalone financial statements, have
been restated to give effect of the Scheme of Arrangement.

For S.N. Dhawan & CO LLP For and on behalf of the Board of Directors of

Chartered Accountants Quint Digital Limited

Firm Registration No.: 000050N/N500045

Rajeev Kumar Saxena Ritu Kapur Parshotam Dass Agarwal

Partner Managing Director and CEO Director

Membership No. 077974 DIN: 00015423 DIN: 00063017

Place: Noida Place: Noida Place: Noida

Date: April 30, 2025 Date: April 30, 2025 Date: April 30, 2025

Vivek Agarwal Tarun Belwal

Chief Financial Officer Company Secretary

Membership No.: A39190

Place: Noida Place: Noida

Date: April 30, 2025 Date: April 30, 2025


 
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