 

MedPlus Health Services Limited (formerly known as MedPlus Health Services
Annexure- VIL

Notes to Restated Consolidated Financial Information

(All amounts are it Rs in millions except as others stated)

 

39, Employee stock option plan (continued)
{€) Modification of terms of options granted in earlier years
‘The Company had during the year ended March 31, 2021 modified the exercise price in relation 5,405 options granted and vested in earlier years, the details of which are as mentioned below:

 

 

March 31, 203
Options granted ws 3195 =
Grant date O1March2018 OL March 201801 February 2019
Modification date 01 July 2020 (01 July 2020 (01 July 2020
Original Exercise price (Rs. per share) 43,562.00 43,562.00 43,562.00
Revised Exercise price (Rs. per share) 37,099.00 10.00 10.00
‘Weighted average share price/ market value on the date of modification 76,842.50 7684250 76,842.50
Expected Life of the options in years 230 230 280
Expected volatility 3027 027% 28.73%
Expected dividends 0.00% 0.00% 0.00%
Average risk-free interest rate 421% 421% 440%
Weighted average fair value of the option granted 4,551.10 76,833.40 76,833.70

 

‘Owing to the change in exercise price, the additional cost accounted for share based payments amounted to RS.379.78 million

“The Company has issued 12,091 bonus equity shares and 870,560 convertible bonus preference shares to the ESOP trust inthe year ended March 31, 2021

(9 The Company instituted MedPlus Employees Stock Option and Shares Plan 2021 (ESOP 2021), The Board of directors approved the plan on August 9, 2021. The plan is effective from August 9, 2021 which provided
for issue of 1,117,612 stock options to eligible employees. Half of the options vest over a period of two years and the balance vest equally every quarter over period of next two years. Vesting period may be accelerated
fon deserving cases, subject to applicable law and minimum vesting period of atleast one year.

Subsequent Event :
Pursuant to Nomination and remuneration committee approval dated 22 November 2021, the Group has granted 935,904 options under ESOP (2021) plan.

Lease
‘Transition note

A new lease standard ic, Ind AS 116 has been notified to be effective w.e April 1, 019 which provide guidelines for the accounting of the lease contracts entered in the capacity ofa lessee and a lessor. For the purpose
of preparation of Restated Consolidated Financial Information, the management has evaluated the impact of change in accounting policies on adoption of Ind AS 116 for the year ended March 31, 2019, Hence, in these
Restated Consolidated Financial Information, Ind AS 116 has been adopted with effect from April 1, 2018 following modified retrospective method with effect of initially applying this standard as an adjustment to the
‘opening balance of retained earnings on the date of intial application. The weighted average rate applied is 11.5%. The nature and effect ofthe changes as a result of adoption of Ind AAS 116 is described below

>s

Ind AS 116 supersedes Ind AS 17 Leases including its appendices (Appendix C of Ind AS 17 Determining whether an Arrangement contains a Lease, Appendix A of Ind AS 17 Operating, Leases- Incentives and
Appendix B of Ind AS 17 Evaluating the Substance of Transactions Involving the Legal Form of a Lease). The standard sets out the principles forthe recognition, measurement, presentation and disclosure of leases and
requires lessees to recognise most leases on the balance sheet.

‘The Group has elected not to apply the requirements of Ind AS 116 "Leases" to short-term leases of all assets that have a lease term of 12 months or less and leases for which the underlying asset is of low value. The lease
payments associated with these leases are recognized as an expense on a straight-line basis over the lease term except inflation adjustment.

‘The adoption of this newly issued accounting standard Ind AS 116 "Lease" resulted in recognition of "Right of Use" asset of Rs. 2,954.99 million and a lease liability of Rs. 250413 million as at April 1, 2018.
Consequently, the retained earnings forthe year ended March 31, 2019 is lower by Rs, 382.32 million (before deferred tax impact).

B Following are the changes in the carrying values of right of use asset for the six months period ended September 9, 2021

 

 

 

 

 

 

 

Particulars ‘Amount
Balance as at April 1, 2018 7
‘Transitional impact of Ind AS116 2,954.99
Additions 1085.67
Adjustment (prepaid rent on present value of security deposit) 15571
Disposals .
Balance as at April 1, 2019 4136.37
Additions 876.71
Balance as at March 31, 2020 5,033.08
Additions en2.ad
Disposals (100.34)
Balance as at September 30, 2020 5,555.18
Additions 1488.31
Disposals (159.32)
Balance as at March 31, 2021 6362.07
Additions 1279.01
Disposals 7224)
Balance as at September 30,2021 7368.84
Accumulated amortisation

Balance as at April 1,2018 sx0.8
_Amortisation charge forthe year 46.3,
Balance as at April 1,2019 427951
_Amortisation charge forthe year 580.4
Balance as at March 31, 2020 1868.85
_Amortisation charge forthe period 338.39
Deletions (44.40)
Balance as at September 30,2020 2162.84
_Amortisation charge forthe year 708.47
Deletion 27
Balance as at March 31, 2021, 2513.35
_Amortisation charge forthe period 938.32
Deletion (25.90)
Balance as at September 30,2021 2925.77
Carrying amounts

Balance as at September 30,2021 Tena
Balance as at September 30,2020 3,392.34
Balance as at March 31, 2021 388873,
Balance as at March 31, 2030 36425
Balance as at March 31, 2019 287686,

 

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