Go Fashion (India) Limited {formerly known as Go Fashion (India) Private Limited}

Notes

(Amount in 2 Millions, except fo

Note
No.
6

(a)

(b)

©

qd)

©

to the restated consolidated financial information

share data or as otherwise stated)

 

 

Leases

‘The Company has adopted Ind AS 116 ‘Leases’ with the date of initial application being 01-Apr-2019. Ind AS 116 replaces Ind AS 17 — Leases
and related interpretation and guidance. The Company had used simplified transition approach under Ind AS 116, under which the difference
between right-to-use asset and lease liabilities is adjusted against retained earnings as on the date of transition, For the purpose of restated
financial information the proforma transition date has been considered as 01 April 2018.

 

   

 
 

Some le: sable by the Company upto one year before the end of the non-cancellable contract
period. Where practicable, the Compan to include extension options in new leases to provide operational flexibility. The extension options
held are exercisable only by the Company and not by the lessors,

 

Right-of-use assets

 

 

  

 

Particulars As at
31/Mar/2019
Opening balance 830.51
Add: Addition during the year 820.35
Less: Impact on lease termination :
Less: Amortised during the year 273.49
Total 1,377.37

 

 

For details on Restatement adjustments on ROU assets & lease liabilities Refer Note 41

 

 

 

 

 

Lease liabilities

‘The following is the movement in lease liabilities

Particulars As at

31/Mar/2019

Opening balance 830.51
Additions 820.35
Impact of lease termination =
Deletions °
Interest 113.60
Lease payments 308.76

Closing balance 1,455.70
Non-current lease liabilities 1,440.27
Current lease liabilities 15.43

 

For details on Restatement adjustments on ROU assets & lease liabilities Refer Note 41

Lease related expenses debited to Statement of profit or loss

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Particulars ar ended
31/Mar/2019
Interest expense on lease liabilities 113.60
Amortisation of right-oF-use assets 273.49
Expense relating to short-term leases 67.50
Contractual maturities of lease liabilities excluding interest thereon on an undiscounted basis
Particulars Less than ‘More than Total
lyear S years
Balance as at
31-Mar-2019 386.93 1,256.96 235.36 1,879.45,
Operating lease commitment as lessee
Particulars For the year ended
31/Mar/2019
Expenses recognized in the statement of profit or loss
a) Minimum lease payments 354.52
b) Contingent rent 21.74
Total 376.26

 

 

Variable rent for certain stores is payable in accordance with the lease agreement as the higher of : (a) fixed minimum guarantee amount and (b)
revenue share percentage

Agreements with a non-cancellable clause are executed for periods ranging from 6 to 108 months and with cancellable clause ranging from 7 to
108 months.

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