YATRA ONLINE, INC., 20-F filed on 7/31/2025
Annual and Transition Report (foreign private issuer)
v3.25.2
Cover - $ / shares
 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Entity Addresses [Line Items]    
Document Type 20-F  
Amendment Flag false  
Document Registration Statement false  
Document Annual Report true  
Document Transition Report false  
Document Shell Company Report false  
Document Period End Date Mar. 31, 2025  
Document Fiscal Period Focus FY  
Document Fiscal Year Focus 2025  
Current Fiscal Year End Date --03-31  
Entity File Number 001-37968  
Entity Registrant Name YATRA ONLINE, INC.  
Entity Central Index Key 0001516899  
Entity Incorporation, State or Country Code E9  
Entity Address, Address Line One Gulf Adiba, Plot No. 272  
Entity Address, Address Line Two 4th Floor, Udyog Vihar, Phase-II  
Entity Address, Address Line Three Sector-20, Gurugram  
Entity Address, City or Town Haryana  
Entity Address, Country IN  
Entity Address, Postal Zip Code 122008  
Title of 12(b) Security Ordinary Shares, par value $0.0001 per share  
Trading Symbol YTRA  
Security Exchange Name NASDAQ  
Entity Well-known Seasoned Issuer No  
Entity Voluntary Filers No  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Accelerated Filer  
Entity Emerging Growth Company false  
Document Accounting Standard International Financial Reporting Standards  
Entity Shell Company false  
ICFR Auditor Attestation Flag true  
Document Financial Statement Error Correction [Flag] false  
Auditor Firm ID 6074 1712
Auditor Opinion [Text Block] We have audited the accompanying consolidated statement of financial position of Yatra Online, Inc. (the “Company”) as of March 31, 2025, the related consolidated statements of profit or loss and other comprehensive income/ (loss), changes in equity, and cash flows for the year ended March 31, 2025, and the related notes (collectively referred to as the “consolidated financial statements.”). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company as at March 31, 2025, and the results of its operations and its cash flows for the year ended March 31, 2025, in conformity with International Financial Reporting Standards as issued by International Accounting Standard Board. 

We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the Company’s internal control over financial reporting as of March 31, 2025, based on criteria established in Internal Control – Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) and our report dated July 31, 2025, expressed an adverse opinion thereon.

  		 
Auditor Name BDO India LLP Ernst & Young Associates LLP
Auditor Location Gurugram, India Gurugram, India
Ordinary shares [member]    
Entity Addresses [Line Items]    
Entity Common Stock, Shares Outstanding 60,219,771  
Entity Listing, Par Value Per Share $ 0.0001  
Ordinary shares class F [member]    
Entity Addresses [Line Items]    
Entity Common Stock, Shares Outstanding 1,854,871  
Entity Listing, Par Value Per Share $ 0.0001  
Business Contact [Member]    
Entity Addresses [Line Items]    
Entity Address, Address Line One Gulf Adiba, Plot No. 272  
Entity Address, Address Line Two 4th Floor, Udyog Vihar, Phase-II  
Entity Address, Address Line Three Sector-20, Gurugram  
Entity Address, City or Town Haryana  
Entity Address, Country IN  
Entity Address, Postal Zip Code 122008  
City Area Code 91 124  
Local Phone Number 4591700  
Contact Personnel Name Dhruv Shringi  
v3.25.2
Consolidated Statement of Profit/ (Loss) and Other Comprehensive Income/ (Loss)
₨ in Thousands, $ in Thousands
 12 Months Ended
Mar. 31, 2025
USD ($)
$ / shares
Mar. 31, 2025
INR (₨)
₨ / shares
Mar. 31, 2024
INR (₨)
₨ / shares
Mar. 31, 2023
INR (₨)
₨ / shares
Revenue        
Rendering of services $ 86,427 ₨ 7,383,464 ₨ 3,583,798 ₨ 3,405,548
Other revenue 6,685 571,058 606,099 421,717
Total revenue 93,112 7,954,522 4,189,897 3,827,265
Other income 1,275 108,957 102,362 152,520
Service cost 47,279 4,039,046 866,039 669,098
Personnel expenses 18,685 1,596,258 1,348,215 1,148,434
Marketing and sales promotion expenses 5,035 430,106 459,935 336,472
Other operating expenses 20,830 1,779,465 1,579,352 1,554,963
Depreciation and amortization 3,616 308,899 197,527 190,152
Impairment of loan to joint venture 1,000
Results from operations (1,058) (90,295) (158,809) 79,666
Finance income 2,433 207,824 170,714 28,944
Finance cost (1,251) (106,877) (286,998) (326,399)
Listing and related expenses (54,238) (23,591)
(Loss)/ Profit before taxes 124 10,652 (329,331) (241,380)
Tax (expense)/ benefit 150 12,849 (37,174) (46,788)
(Loss)/ Profit for the year 274 23,501 (366,505) (288,168)
Other comprehensive income/(loss) Items not to be reclassified to profit or loss in subsequent years (net of taxes)        
Remeasurement loss on defined benefit plan, net of taxes (35) (3,061) [1] (6,006) [1] (10,713) [1]
Items that are or may be reclassified subsequently to profit or loss (net of taxes)        
Foreign currency translation differences gain/ (loss) 2,370 202,414 (15,027) 1,245
Other comprehensive (loss)/ income for the year, net of tax 2,335 199,353 (21,033) (9,468)
Total comprehensive (loss)/ income for the year, net of tax 2,609 222,854 (387,538) (297,636)
(Loss)/ Profit attributable to:        
Owners of the Parent Company (1,252) (106,925) (350,943) (289,243)
Non-controlling interest 1,526 130,426 (15,562) 1,075
Total comprehensive (loss)/ income attributable to:        
Owners of the Parent Company 1,095 93,510 (369,860) (298,563)
Non-controlling interest 1,514 129,344 (17,678) 927
Total comprehensive (loss)/ income for the year $ 2,609 ₨ 222,854 ₨ (387,538) ₨ (297,636)
Loss per share        
Basic | (per share) $ (0.02) ₨ (1.73) ₨ (5.60) ₨ (4.59)
Diluted | (per share) $ (0.02) ₨ (1.73) ₨ (5.60) ₨ (4.59)
[1] Refer to Note 31 for the movement during the year.
v3.25.2
Consolidated Statement of Financial Position
₨ in Thousands, $ in Thousands
Mar. 31, 2025
USD ($)
Mar. 31, 2025
INR (₨)
Mar. 31, 2024
INR (₨)
Non-current assets      
Property, plant and equipment $ 1,602 ₨ 136,824 ₨ 73,835
Right-of-use assets 2,142 183,029 160,037
Intangible assets and goodwill 27,449 2,344,983 913,434
Prepayments and other assets 7 610 755
Other financial assets 1,062 90,714 24,039
Term deposits 524 44,770 137,169
Other non-financial assets 1,977 168,883 207,555
Deferred tax assets 264 22,519 10,932
Total non-current assets 35,027 2,992,332 1,527,756
Current assets      
Inventories 1 54 53
Trade and other receivables 65,179 5,568,241 4,637,243
Prepayments and other assets 25,324 2,163,456 1,487,861
Income tax recoverable 5,901 504,131 339,317
Other current financial assets 758 64,722 134,930
Term deposits 15,327 1,309,400 2,620,655
Cash and cash equivalents 7,091 605,802 1,741,950
Total current assets 119,581 10,215,806 10,962,009
Total assets 154,608 13,208,138 12,489,765
Equity      
Share capital 10 863 857
Share premium 241,075 20,595,068 20,511,478
Treasury shares (4,899) (418,555) (222,152)
Other capital reserve 4,825 412,232 378,695
Accumulated deficit (238,494) (20,374,550) (20,266,628)
Non- controlling interest reserve 58,905 5,032,282 5,032,282
Foreign currency translation reserve 1,830 156,353 (46,059)
Total equity attributable to equity holders of the Company 63,252 5,403,693 5,388,473
Total non-controlling interest 29,277 2,501,141 2,371,799
Total equity 92,529 7,904,834 7,760,272
Non-current liabilities      
Borrowings 243 20,744 114,677
Deferred tax liabilities 1,668 142,468 4,669
Employee benefits 771 65,830 55,850
Lease liabilities 2,181 186,339 164,418
Total non-current liabilities 4,863 415,381 339,614
Current liabilities      
Borrowings 6,147 525,120 523,515
Trade and other payables 34,567 2,953,069 2,608,087
Employee benefits 732 62,550 41,307
Deferred revenue 28 2,390 3,360
Income taxes payable 20 1,723 251
Lease liabilities 606 51,810 51,324
Other financial liabilities 1,099 93,924 418,969
Other current liabilities 14,017 1,197,337 743,066
Total current liabilities 57,216 4,887,923 4,389,879
Total liabilities 62,079 5,303,304 4,729,493
Total equity and liabilities $ 154,608 ₨ 13,208,138 ₨ 12,489,765
v3.25.2
Consolidated Statement of Changes in Equity
₨ in Thousands, $ in Thousands
Ordinary shares [member]
Issued capital [member]
INR (₨)
Ordinary shares [member]
Share premium [member]
INR (₨)
Treasury shares [member]
INR (₨)
Retained earnings [member]
INR (₨)
Non-controlling interest reserve [member]
INR (₨)
Capital reserve [member]
INR (₨)
Reserve of change in value of foreign currency basis spreads [member]
INR (₨)
Equity attributable to owners of parent [member]
INR (₨)
Non-controlling interests [member]
INR (₨)
USD ($)
INR (₨)
Balance at Mar. 31, 2022 ₨ 842 ₨ 20,286,474 ₨ (11,219) ₨ (19,617,091) ₨ 263,531 ₨ (32,279) ₨ 890,258 ₨ 1,983   ₨ 892,241
(Loss)/ Profit for the year (289,243)   (289,243) 1,075   (288,168)
Other comprehensive income/ loss                      
Foreign currency translation differences loss 1,245 1,245   1,245
Remeasurement loss on defined benefit plan (10,565)   (10,565) (148)   (10,713) [1]
Total other comprehensive (loss)/ income (10,565) 1,245 (9,320) (148)   (9,468)
Total comprehensive loss/ (income) (299,808)   1,245 (298,563) 927   (297,636)
Transactions with owners, recorded directly in equity contributions by owners                      
Share based payments 4,518   147,536 152,054   152,054
Vested RSUs net settled for employee’s tax obligation (Refer note 30.2) (27,340)   (27,340)   (27,340)
Exercise of options 8 129,665   (129,673)  
Change in non-controlling interest [2] (8,714)   (8,714) 8,714  
Total contribution by owners 8 102,325 (4,196)   17,863 116,000 8,714   124,714
Balance at Mar. 31, 2023 850 20,388,799 (11,219) (19,921,095) [3] 281,394 (31,034) 707,695 11,624   719,319
(Loss)/ Profit for the year (350,943)   (350,943) (15,562)   (366,505)
Other comprehensive income/ loss                      
Foreign currency translation differences loss   (15,027) (15,027)   (15,027)
Remeasurement loss on defined benefit plan (3,886)   (3,886) (2,120)   (6,006) [1]
Total other comprehensive (loss)/ income (3,886) [3] (15,027) (18,913) (2,120)   (21,033)
Total comprehensive loss/ (income) (354,829) [3] (15,027) (369,856) (17,682)   (387,538)
Transactions with owners, recorded directly in equity contributions by owners                      
Share based payments 9,301   219,985 229,286   229,286
Exercise of options 7 122,679   (122,686)  
Change in non-controlling interest [4] 5,032,282 [3] 5,032,282 2,377,857   7,410,139
Total contribution by owners 7 122,679 (210,933) 9,301 5,032,282 [3] 97,299 (5,050,635) 2,377,857   (7,428,492)
Own shares repurchase (210,933)   (210,933)   (210,933)
Balance at Mar. 31, 2024 857 20,511,478 (222,152) (20,266,623) 5,032,282 [3],[5] 378,693 (46,061) 5,388,473 2,371,799   7,760,272
Balance at Mar. 31, 2024 857 20,511,478 (222,152) (20,266,623) 5,032,282 [3],[5] 378,693 (46,061) 5,388,473 2,371,799   7,760,272
(Loss)/ Profit for the year (106,925)   (106,925) 130,426 $ 274 23,501
Other comprehensive income/ loss                      
Foreign currency translation differences loss   202,414 202,414 2,370 202,414
Remeasurement loss on defined benefit plan (1,977)   (1,977) (1,084) (35) (3,061) [1]
Total other comprehensive (loss)/ income (1,977) [5] 202,414 200,437 (1,084) 2,335 199,353
Total comprehensive loss/ (income) (108,902)   202,414 93,512 129,342 2,609 222,854
Transactions with owners, recorded directly in equity contributions by owners                      
Share based payments 975   123,811 124,786   124,786
Vested RSUs net settled for employee’s tax obligation (Refer note 30.2) (6,676)   (6,676)   (6,676)
Exercise of options 6 90,266   (90,272)  
Total contribution by owners 6 83,590 (196,403) 975   33,539 (78,293)   (78,293)
Own shares repurchase (196,403)   (196,403)   (196,403)
Balance at Mar. 31, 2025 ₨ 863 ₨ 20,595,068 ₨ (418,555) ₨ (20,374,549) ₨ 5,032,282 [5] ₨ 412,232 ₨ 156,353 ₨ 5,403,693 ₨ 2,501,141 $ 92,529 ₨ 7,904,834
[1] Refer to Note 31 for the movement during the year.
[2] Change in non-controlling interest represents shares of a subsidiary issued to the Parent Company, where the non-controlling shareholder has not made equal subscription, which leads to an increase in holding percentage from 98.55% to 98.59%.
[3] Non-controlling interest reserve represents difference between the fair value of consideration paid or received and changes in the carrying amount of non- controlling interest arising on changes in proportion of equity held by the non- controlling interest in subsidiary, without loss of control.
[4] Pursuant to Indian IPO Yatra Online Limited (“Indian subsidiary”), non-controlling interest share has increased from 1.41% to 35.54% (Refer note 6).
[5] Non- controlling interest reserve represents difference between the fair value of consideration paid or received and changes in the carrying amount of non- controlling interest arising on changes in proportion of equity held by the non- controlling interest in subsidiary, without loss of control.
v3.25.2
Consolidated Statement of Changes in Equity (Parenthetical)
 12 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Bottom of range [member]    
Proportion of ownership interest in subsidiary 1.41%  
Top of range [member]    
Proportion of ownership interest in subsidiary 35.54%  
Bottom of range [member]    
Proportion of ownership interest in subsidiary   98.55%
Top of range [member]    
Proportion of ownership interest in subsidiary   98.59%
v3.25.2
Consolidated Statement of Cash Flows
₨ in Thousands, $ in Thousands
 12 Months Ended
Mar. 31, 2025
USD ($)
Mar. 31, 2025
INR (₨)
Mar. 31, 2024
INR (₨)
Mar. 31, 2023
INR (₨)
Cash flows from operating activities:        
Loss before tax $ 125 ₨ 10,652 ₨ (329,331) ₨ (241,381)
Adjustments to reconcile (loss)/ Profit before tax to net cash flows:        
Depreciation and amortization 3,616 308,899 197,527 190,152
Interest income (2,433) (207,877) (170,715) (21,289)
Interest costs 883 75,456 239,356 225,200
Unrealized foreign exchange loss/(gain) (722) (61,686) (26,362) (38,764)
Gain on disposal of property, plant and equipment (9) (770) (705) (3,800)
Fixed assets write off 3
Provisions (net) (263) (22,469) (164,909) (22,079)
Gain on termination/ rent concession of leases (1,786)
Unwinding of deferred consideration (41,655)
Expense incurred on repayment of non- convertible debenture 51 4,375
Share-based payment expense 1,463 125,002 229,260 152,054
Impairment of loan to joint venture 1,000
Working capital changes:        
Decrease/ (increase) in trade and other receivables (8,114) (693,157) (2,089,462) (1,593,456)
Decrease in inventories 23 173
Increase/ (decrease) in trade and other payables 1,428 121,994 783,989 (439,095)
Direct taxes (paid)/ refunds 568 48,490 (102,033) (127,620)
Net cash used in operating activities (3,407) (291,088) (1,433,362) (1,962,346)
Cash flows from investing activities:        
Purchase of property, plant and equipment (15,098) (1,289,800)
Purchase of property, plant and equipment (733) (62,586) (20,328) (19,786)
Proceeds from sale of property, plant and equipment 107 9,111 2,072 9,715
Purchase/development of intangible assets (2,724) (232,677) (246,194) (134,406)
Investment in term deposits (35,730) (3,052,432) (9,684,565) (527,740)
Proceeds from term deposits 52,501 4,485,124 7,596,494 519,121
Interest received 2,251 192,289 57,017 7,144
Net cash from/(used in) investing activities 574 49,029 (2,295,504) (145,952)
Cash flows from financing activities:        
Payment of principal portion of lease liabilities 7,688,897
Payment of principal portion of lease liabilities (278,757)
Payment of principal portion of lease liabilities (27,340)
Payment of principal portion of lease liabilities (697) (59,544) (46,549) (41,873)
Payment of principal portion of lease liabilities (370) (31,612) (32,267) (35,992)
Buyback of shares (2,330) (199,055) (210,448)
Proceeds from factoring 29,025 2,479,568 8,716,246 3,825,988
Repayment of factoring proceeds (28,416) (2,427,619) (9,400,045) (3,087,688)
Proceeds of borrowings 30 198,375 1,252,501
Repayment of borrowings (8,513) (727,265) (1,244,455) (32,250)
Repayment of vehicle loan (192) (16,398) (8,751) (7,042)
Interest paid on borrowings (519) (44,268) (249,277) (94,491)
Net cash from financing activities (12,012) (1,026,163) 5,132,969 1,751,813
Net increase/ (decrease) in cash and cash equivalents (14,845) (1,268,222) 1,347,187 (356,485)
Effect of exchange differences on cash and cash equivalents 69 5,896
Effect of exchange differences on cash and cash equivalents 808 69,044 (108,838) 59,804
Cash and cash equivalents at the beginning of the year 20,390 1,741,950 503,601 800,282
Closing cash and cash equivalents at the end of the year 6,422 548,668 1,741,950 503,601
Components of cash and cash equivalents:        
Cash on hand 8 656 72 125
On current account 5,201 444,332 814,444 288,779
Fixed deposits with banks 130,054 7,462
Credit card collection in hand 1,882 160,814 797,380 207,235
Total cash and cash equivalents 7,091 605,802 1,741,950 503,601
Less: Bank overdrafts (699) (57,134)
Total cash and cash equivalents $ 6,422 ₨ 548,668 ₨ 1,741,950 ₨ 503,601
v3.25.2
Consolidated Statement of Cash Flows (Parenthetical)
₨ in Thousands, $ in Thousands
 12 Months Ended
Mar. 31, 2025
INR (₨)
Mar. 31, 2024
INR (₨)
Mar. 31, 2023
INR (₨)
Disclosure of reconciliation of liabilities arising from financing activities [line items]      
Net cash from financing activities ₨ (1,026,163) ₨ 5,132,969 ₨ 1,751,813
Cash flow net, financing activities (106,182) (1,738,629) 1,951,509
Proceeds from vehicle loan [1] 13,854 24,168 23,737
Other changes, financing activities [2] 18,827
Opening balance, Lease liabilities 215,742 251,228 269,659
Addition/(deletion) Lease liabilities 79,896 13,050 23,439
Proceeds/ (repayment) Lease liabilities (90,097) (80,803) (77,864)
Interest element on lease liabilities Lease liabilities 32,608 32,267 35,994
Ending balance, Lease liabilities 238,149 215,742 251,228
Long-term borrowings [member]      
Disclosure of reconciliation of liabilities arising from financing activities [line items]      
Opening balance, financing activities 232,291 441,054 7,181
Cash flow net, financing activities (215,265) (232,931) 410,136
Proceeds from vehicle loan [1] 13,854 24,168 23,737
Other changes, financing activities [2]
Ending balance, financing activities 30,880 232,291 441,054
Short-term borrowings [member]      
Disclosure of reconciliation of liabilities arising from financing activities [line items]      
Opening balance, financing activities 405,901 1,911,599 351,399
Cash flow net, financing activities 109,083 (1,505,698) 1,541,373
Proceeds from vehicle loan [1]
Other changes, financing activities [2] 18,827
Ending balance, financing activities 514,984 405,901 1,911,599
Liabilities From Financing Activities [member]      
Disclosure of reconciliation of liabilities arising from financing activities [line items]      
Opening balance, financing activities 638,192 2,352,653 358,580
Ending balance, financing activities 545,864 638,192 2,352,653
Lease liabilities [member]      
Disclosure of reconciliation of liabilities arising from financing activities [line items]      
Opening balance, Lease liabilities 215,742 251,228 269,659
Addition/(deletion) Lease liabilities 79,896 13,050 23,439
Proceeds/ (repayment) Lease liabilities (90,097) (80,803) (77,864)
Interest element on lease liabilities Lease liabilities 32,608 32,267 35,994
Ending balance, Lease liabilities ₨ 238,149 ₨ 215,742 ₨ 251,228
[1] In the statement of cash flows, proceeds from vehicle loan of INR 13,854 (March 31, 2024: 24,168 and March 31, 2023: INR 23,737) has been adjusted against purchase of property, plant and equipment, i.e., these are non cash transactions from Group’s perspective.
[2] includes adjustment for ancillary borrowing cost, unrealized / realized foreign exchange gain / loss.
v3.25.2
Insider Trading Policies and Procedures
 12 Months Ended
Mar. 31, 2025
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.25.2
Cybersecurity Risk Management and Strategy Disclosure
 12 Months Ended
Mar. 31, 2025
Cybersecurity Risk Management, Strategy, and Governance [Abstract]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block] Cybersecurity Risk Management and Strategy 

The Company, under the oversight of the audit committee of the board of directors (the “Audit Committee”), has implemented and maintains an enterprise risk management program that inter- alia contains a cybersecurity risk management program primarily designed to identify, assess, and mitigate critical risks from cybersecurity threats. Our cybersecurity risk management program incorporates elements of recognized industry standards, such as the ISO 27001. Our cybersecurity program includes safeguards such as firewalls, DDoS mitigation tools, and authentication controls.

 

We engage third-party service providers to assist us with our cybersecurity risk management. We have also engaged third party advisors and consultants to conduct periodic testing of our processes and systems, which includes annual audits designed to align to ISO and PCI standards. We also maintain a vendor management program whereby, before contracting with certain third parties, such as those that have access to sensitive information or our IT systems, we conduct diligence on those third parties. This third party diligence includes reviewing vulnerability assessments and the inclusion of compliance with the applicable data privacy requirements in the contracts, as appropriate. We have also implemented a process for employees to undergo cybersecurity training during onboarding.

 

We have not identified any cybersecurity incidents or threats that have materially affected us or are reasonably likely to materially affect us, including our business strategy, results of operations or financial condition; however, like other companies in our industry, we and our third-party vendors may, from time to time, experience threats and security incidents relating to our and our third-party vendors’ information systems. For more information, please see Item 3, part D - Risk Factors.

 
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Text Block] We have not identified any cybersecurity incidents or threats that have materially affected us or are reasonably likely to materially affect us, including our business strategy, results of operations or financial condition; however, like other companies in our industry, we and our third-party vendors may, from time to time, experience threats and security incidents relating to our and our third-party vendors’ information systems. For more information, please see Item 3, part D - Risk Factors.
Cybersecurity Risk Board of Directors Oversight [Text Block] Governance Related to Cybersecurity Risks  

Our Infosec Team is responsible for the day-to-day oversight of cybersecurity risk assessment and management. This function works in close coordination with and reports to the Chief Information and Technology Officer, with whom they regularly discuss and review our information security and cybersecurity risk management processes.

 

Our board of directors has delegated oversight of the cybersecurity risk management program to our audit committee. The audit committee advises the board of directors in evaluating the effectiveness of risk management systems and in assessing compliance with risk management practices, including those specific to cybersecurity. In addition, our Chief Information and Technology Officer, with input from third party consultants as appropriate, provide a cybersecurity updates to the audit committee and board of directors, as required.

 
Cybersecurity Risk Management Positions or Committees Responsible [Text Block] Our board of directors has delegated oversight of the cybersecurity risk management program to our audit committee.
v3.25.2
Corporate information
 12 Months Ended
Mar. 31, 2025
Corporate Information  
Corporate information

1. Corporate information

 

Yatra Online, Inc. (the “Parent Company”) together with its subsidiaries (collectively, “the Company”, “We” or the “Group”) and equity accounted investee is primarily engaged in the business of selling travel products and solutions in India and Singapore. The Group offers its customers the entire range of travel services including ticketing, tours and packages and reservations for hotels. The Parent Company is a public limited company incorporated and domiciled in Cayman Islands; the registered office is located at Maples Corporate Services Limited, PO Box-309, Ugland House, Grand Cayman, KYI-1104 Cayman Islands. The Company’s ordinary shares representing equity shares are listed on the NASDAQ Stock Exchange. Information on the Group structure is provided in Note 6.

 
v3.25.2
Material accounting policies
 12 Months Ended
Mar. 31, 2025
Material Accounting Policies  
Material accounting policies

2. Material accounting policies

 

2.1 Basis of preparation

 

The consolidated financial statements for March 31, 2025 have been prepared in accordance with International Financial Reporting Standards (IFRS Accounting Standards) as issued by the International Accounting Standards Board (IASB). The Group has prepared the consolidated financial statements on the basis that it will continue to operate as a going concern.

 

The consolidated financial statements are prepared on historical cost basis, except for financial instruments that have been measured at fair value (refer accounting policy regarding financial instruments).

 

The Accounting policies have been consistently applied by the Group for all the periods presented in these consolidated financial statements, except in relation to the new standards adopted on April 1, 2024 (Refer Note 2.2).

 

The consolidated financial statements of the Company for the year ended March 31, 2025 were authorized for issuance by the Parent Company’s board of directors on July 31, 2025.

 

All amounts have been rounded to the nearest thousand, unless otherwise indicated.

 

2.2 New standards, interpretations and amendments adopted by the Group

 

The Group applied for the first-time certain standards and amendments, which are effective for annual periods beginning on or after April 1, 2024. The Group has not early adopted any other standard, interpretation or amendment that has been issued but is not yet effective.

 

Amendments to IAS 1, “Presentation of Financial Statements” regarding classification of liabilities as current or non- current

 

In January 2020 and October 2022, the IASB issued amendments to paragraphs 69 to 76 of IAS 1 to specify the requirements for classifying liabilities as current or non-current.

 

The amendments clarify;

 

● what is meant by a right to defer settlement;
● that a right to defer must exist at the end of the reporting period;
● that classification is unaffected by the likelihood that an entity will exercise its deferral right;
● that only if an embedded derivative in a convertible liability is itself an equity instrument would the terms of a liability not impact its classification; and
● Disclosures

 

The amendment also clarified that if an entity’s right to defer settlement of a liability is subject to the entity complying with the required covenants only at a date subsequent to the reporting period (“future covenants”), the entity has a right to defer settlement of the liability even if it does not comply with those covenants at the end of the reporting period. The amendments are effective for annual reporting periods beginning on or after 1 January 2024 and must be applied retrospectively.

 

The amendment does not have any material impact on the Group’s consolidated financial statements.

 

Amendments to IFRS 16, “Leases” regarding Lease Liability in a Sale and Leaseback

 

Lease Liability in a Sale and Leaseback -Amendments to IFRS 16 In September 2022, the IASB issued Amendments to IFRS 16, “Leases”, adding requirements on explaining the subsequent measurement of sale and leaseback transaction. These amendments will not change the accounting for leases other than those arising in a sale and leaseback transaction. These amendments are effective for annual reporting periods beginning on or after January 1, 2024.

 

The amendments does not have any material impact on the Group’s consolidated financial statements.

 

Amendments to IAS 7 “Statement of Cash Flows and IFRS 7 Financial Instruments” - Disclosures - Supplier Finance Arrangements

 

In May 2023 the IASB issued Supplier Finance Arrangements (‘the 2023 Amendments’), which amended IAS 7 to require an entity to provide additional disclosures about its supplier finance arrangements. The disclosure requirements in the amendments enhance the current requirements and are intended to assist users of financial statements in understanding the effects of supplier finance arrangements on an entity’s liabilities, cash flows and exposure to liquidity risk. The amendments will be effective for annual reporting periods beginning on or after 1 January 2024.

 

The amendments does not have any material impact on the Group’s consolidated financial statements.

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)

 

Amendment to IAS 21 “The Effects of Changes in Foreign Exchange Rates”

 

On August 15, 2023, IASB has issued amendments to IAS 21, “Lack of Exchangeability” that will require companies to provide more useful information in their financial statements when a currency cannot be exchanged into another currency. These amendments specify when a currency is exchangeable into another currency and when it is not and specify how an entity determines the exchange rate to apply when a currency is not exchangeable. The effective date for adoption of this amendment is annual periods beginning on or after January 1, 2025.

 

The amendments does not have any material impact on the Group’s consolidated financial statements, although early adoption is permitted.

 

2.3 Basis of consolidation

 

The consolidated financial statements comprise the financial statements of the Parent Company and its subsidiaries as disclosed in Note 6.

 

A subsidiary is an entity controlled by the Group. Control exists when the parent has power over the entity, is exposed, or has rights to variable returns from its involvement with the entity and has the ability to affect those returns by using its power over the entity. Power is demonstrated through existing rights that give the ability to direct relevant activities, those which significantly affect the entity’s returns.

 

Subsidiaries are fully consolidated from the date on which the Group obtains control over the subsidiary and ceases when the Group loses control of the subsidiary. The financial statements of all subsidiaries are prepared for the same reporting period as that of the Company for consolidation purposes. Where necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies and accounting period in line with those used by the Group. All intra-group assets and liabilities, equity, income, expenses and cash flows relating to transactions between members of the Group are eliminated in full on consolidation.

 

Non-controlling interest is the equity in a subsidiary not attributable, directly or indirectly, to a parent. Non-controlling interests in the net assets of consolidated subsidiaries are identified separately from the Group’s equity therein. Non- controlling interests consist of the amount of those interests at the date of the business combination and the non- controlling interests’ share of changes in equity since that date.

 

Profit or loss and each component of other comprehensive income/ loss (OCI) are attributed to the equity holders of the parent of the Group and to the non-controlling interests, even if this results in the non-controlling interests having a deficit balance.

 

When the proportion of the equity held by the non-controlling interest in a subsidiary changes, without loss of control, the Group adjusts the carrying amount of the controlling and non-controlling interests to reflect changes in their relative interests in the subsidiary. For this purpose, non-controlling interest is measured at proportionate share of the carrying amount of the net assets, including goodwill, if any, of the respective subsidiary. The Group recognizes directly in the NCI Reserve any difference between the amount by which the non-controlling interests are adjusted and the fair value of the consideration paid or received, and attribute it to the owners of the parent. Any transaction costs incurred in connection for sale of non-controlling interest in a subsidiary without loss of control, are deducted from equity and allocated to non-controlling interest.

 

If the Group loses control over a subsidiary, it derecognizes the related assets (including goodwill), liabilities, non- controlling interest and other components of equity, while any resultant gain or loss is recognized in profit or loss. Any investment retained is recognized at fair value.

 

2.4 Foreign currency transactions

 

The Group’s presentation currency is Indian national rupee (INR) as business activities of the Group are primarily located in India and carried through subsidiaries whose functional currency is INR.

 

For each entity, the Group determines the functional currency and items included in the financial statements of each entity are measured using that functional currency. The Parent Company’s functional currency is United States dollar (USD). The Group’s operations are conducted through the subsidiaries and equity accounted investee where the local currency is generally the functional currency. The financial statements of entities, whose functional currency is other than INR, are translated from their respective functional currencies into INR.

 

Group companies

 

For consolidation, the assets and liabilities of foreign operations are translated into presentation currency at the rate of exchange prevailing at the reporting date and their statement of profit or loss and other comprehensive loss are translated at average exchange rates prevailing during the year ended March 31, 2025, March 31, 2024 and March 31, 2023, except for transactions where there is a significant difference in the average exchange rate and exchange rate on the date of transaction, in which cases, the transactions are reported using rate of that date. The exchange differences arising on translation for consolidation are recognized in OCI and accumulated in equity under the head Foreign currency translation reserve. On disposal of a foreign operation, the component of OCI relating to that particular foreign operation is recognized in profit or loss.

 

Transactions and balances

 

Transactions in foreign currencies are initially recorded by the Group’s entities at their respective functional currency spot rates at the date the transactions first qualify for recognition.

 

Monetary assets and liabilities denominated in foreign currencies are translated at the functional currency spot rates of exchange at the reporting date. Differences arising on settlement or translation of monetary items are recognized in profit or loss.

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)

 

Convenience translation

 

The consolidated financial statements are stated in thousands of INR. However, solely for the convenience of the readers, the consolidated statement of financial position as at March 31, 2025, the consolidated statement of profit or loss and other comprehensive income/ (loss) for the year ended March 31, 2025 and consolidated statement of cash flows for year ended March 31, 2025 were converted into USD at the exchange rate of 85.43 INR per USD, which is based on the noon buying rate as at March 31, 2025, in The City of New York for cable transfers of Indian rupees as certified for customs purposes by the Federal Reserve Bank of New York. This arithmetic conversion should not be construed as representation that the amounts expressed in INR may be converted into USD at that exchange rate as well as that such numbers are in compliance as per the requirements of IFRS. Such convenience translation is not subject to audit by the Company’s Independent Registered Public Accounting Firm.

 

2.5 Summary of material accounting policies

 

Current versus non-current classification

 

The Group segregates assets and liabilities into current and non-current categories for presentation in the statement of financial position after considering its normal operating cycle and other criteria set out in IAS 1, “Presentation of financial statements”. For this purpose, current assets and liabilities include current portion of non-current assets and liabilities respectively. Deferred tax assets and liabilities are always classified as non-current.

 

The operating cycle is the time between the acquisition of assets for processing and their realization / settlement in cash and cash equivalents. The Group has identified period up to twelve months as its operating cycle for classification of their current assets and liabilities.

 

Joint ventures

 

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. The considerations made in determining joint control are similar to those necessary to determine control over subsidiaries.

 

The Group’s investment in its joint venture is accounted for using the equity method. Under the equity method, the investment in the joint venture is initially recognized at cost. The carrying amount of the investment is adjusted to recognize changes in the Group’s share of net assets of the joint venture since the acquisition date. The profit or loss reflects the Group’s share of the results of operations of the joint venture. Any change in OCI of those investees is presented as part of the Group’s OCI. In addition, when there has been a change recognized directly in the equity of the joint venture, the Group recognizes its share of any changes, when applicable, in the statement of changes in equity. Unrealized gains and losses resulting from transactions between the Group and the joint venture are eliminated to the extent of the interest in the joint venture.

 

The financial statements of the joint venture are prepared for the same reporting period as that of the Group.

 

At each reporting date, the Group determines whether there is objective evidence that the investment in the joint venture is impaired. If there is such evidence, the Group calculates the amount of impairment as the difference between the recoverable amount of the joint venture and its carrying value and then recognizes the loss as ‘Share of loss of a joint venture’ in the consolidated statement of Profit or Loss and (including other comprehensive Income).

 

When the Group’s share of losses of a joint venture exceeds the Group’s interest in that joint venture (which includes any long-term interests that, in substance, form part of the Group’s net investment in the joint venture), the Group discontinues recognizing its share of further losses. Additional losses are recognized only to the extent that the Group has incurred legal or constructive obligations or made payments on behalf of the joint venture. At each reporting date, Group true-up its obligation to contribute towards the share of cumulative loss of the Joint venture, and reversal, if any, arising is recognized as the gain under ‘Share of loss of a joint venture’ in the statement of profit or loss.

 

Business combinations and goodwill

 

Business combinations are accounted for using the acquisition method. The cost of an acquisition is measured as the aggregate of the consideration transferred measured at acquisition date fair value. Identifiable assets and liabilities of acquirer are separately measured at fair value. Acquisition-related costs are expensed as incurred in profit or loss.

 

When the Group acquires a business, it assesses the financial assets and liabilities assumed for appropriate classification and designation in accordance with the contractual terms, economic circumstances and pertinent conditions as at the acquisition date.

 

Goodwill is initially measured at cost, being the excess of the aggregate of the consideration transferred and the amount recognized for Non-controlling Interest over the fair value of the identifiable net assets acquired and liabilities assumed.

 

After initial recognition, goodwill is measured at cost less any accumulated impairment losses. For the purpose of impairment testing, goodwill acquired in a business combination is, from the acquisition date, allocated to each of the Group’s Cash Generating Units (CGUs) or group of CGUs (refer to Note 20) that are expected to benefit from the combination, irrespective of whether other assets or liabilities of the acquiree are assigned to those units.

 

On disposal of a subsidiary, the attributable amount of goodwill is included in the determination of the profit or loss and recognized in statement of profit or loss.

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)

 

Revenue from contracts with customers

 

We recognize revenue when we satisfy a performance obligation by transferring control of the promised services to a customer in an amount that reflects the consideration that we expect to receive in exchange for those services. When we act as an agent in the transaction under IFRS 15, we recognize revenue only for our commission on the arrangement. The Group has concluded that it is acting as agent in case of sale of airline tickets, hotel bookings, sale of rail and bus tickets as the supplier is primarily responsible for providing the underlying travel services and the Group does not control the service provided by the supplier to the traveler and as principal in case of sale of holiday packages since the group controls the services before such services are transferred to the traveler.

 

The Group provides travel products and services to leisure customers (B2C-Business to Consumer), corporate travelers (B2E-Business to Enterprise) and B2B2C (Business to Business to Consumer) travel agents in India and abroad. The revenue from rendering these services is recognized in profit or loss once the services are rendered. This is generally the case : 1) on issuance of ticket in case of sale of airline tickets. 2) on date of hotel booking and 3) on the date of completion of outbound and inbound tours and packages.

 

The application of our revenue recognition policies and a description of our principal activities, organized by segment, from which we generate our revenue, are presented below.

 

Air Ticketing

 

The Group receive commissions or service fees from the travel supplier/bank and/or travelling customer. Revenue from the sale of airline tickets is recognized as an agent on a net commission earned basis. Revenue from service fee is recognized on earned basis. Performance obligation in this regard is satisfied on issuance of airline ticket to the traveler. The Group records an allowance for cancellations at the time of the transaction based on historical experience and restrict revenue recognition only to the extent that it is highly probable that a significant reversal of revenue will not occur in future periods.

 

The Group receives upfront fee from Global Distribution System (“GDS”) providers for facilitating the booking of airline tickets on their website or other distribution channels to travel agents for using their system. The upfront fees is recognized as revenue for actual airline tickets sold over the total number of airline tickets to be sold over the term of the agreement, in both cases using such GDS platforms, and the balance amount is recognized as deferred revenue.

 

The Group earns incentives from airlines if specific targets are achieved over a period of time. Such incentives are treated as variable consideration and the Group estimates the amount of consideration to which it will be entitled in exchange for services at the contract inception date and at each reporting date using either the most likely amount method or the expected value method, depending on which method the Group expects to better predict the amount of consideration to which it will be entitled. The most likely amount is used for those contracts with a single volume threshold, while the expected value method is used for those with more than one volume threshold. The Group includes estimated variable consideration in the transaction price only to the extent that it is highly probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved.

 

The disclosures of significant estimates and assumptions relating to the estimation of variable consideration are provided in Note 8.

 

Hotels and Packages (including Meeting, Incentives, Conferences, & Exhibitions (MICE))

 

Revenue from hotel reservation is recognized as an agent on a net commission earned basis. Revenue from service fee from customer is recognized on earned basis. Both the performance obligations are satisfied on the date of hotel booking. The Group records an allowance for cancellations at the time of booking on this revenue based on historical experience and restrict revenue recognition only to the extent that it is highly probable that a significant reversal of revenue will not occur in future periods.

 

Revenue from packages (including MICE) are accounted for on a gross basis as the Group controls the services before such services are transferred to the traveler and is determined to be the primary obligor in the arrangement. The Group recognises revenue from such packages on the date of completion of outbound and inbound tours and packages. Cost of delivering such services includes cost of hotels, airlines and package services and is disclosed as service cost.

 

Other Services

 

Revenue from other services primarily comprises of revenue from sale of rail and bus tickets and revenue from freight forwarding services. Revenue from the sale of rail and bus tickets is recognized as an agent on a net commission earned basis on the date of booking of ticket, net of allowance for cancellations at the time of the transaction based on historical experience. Revenue related to freight forwarding services is recognized at the time of departure of the cargo at the origin in case of exports and in case of Imports, revenue is recognized on the basis of arrival dates. The Group acts as an agent; accordingly recognize revenue only for commission on the arrangement.

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)

 

Others

 

Income from other source, primarily comprising advertising revenue, revenue from sale of coupons & vouchers and fees for facilitating website access to travel insurance companies are being recognized as the services are being performed as per the terms of the agreements with respective suppliers.

 

Revenue is recognized net of allowances for cancellations, refunds during the period and taxes.

 

The Group provides loyalty programs under which participating customers earn loyalty points on current transactions that can be redeemed for future qualifying transactions. Under its customer loyalty programs, the Group allocates a portion of the consideration received to loyalty points that are redeemable against any future purchases of the Group’s services. This allocation is based on the relative stand-alone selling prices. The amount allocated to the loyalty program is deferred, and is recognized as revenue when loyalty points are redeemed or the likelihood of the customer redeeming the loyalty point become remote.

 

The Group incurs certain marketing and sales promotion expenses which get reduced from revenue. This includes the cost for upfront cash incentives to the end users and loyalty programs as incurred for customer inducement and acquisition for promoting transactions across various booking platforms.

 

Contract balances

 

Contract assets

 

A contract asset is recognized for the right to consideration in exchange for services transferred to the customer if receipt of such consideration is conditional on completion of further activities/ services, i.e., the Group does not have an unconditional right to receive consideration (refer to Note 8).

 

Trade receivables

 

A receivable is recognized if an amount of consideration that is unconditional is due from the customer (i.e., only the passage of time is required before payment of the consideration is due) (refer to Note 26).

 

Contract liabilities

 

A contract liability is the obligation to transfer services to a customer for which the Group has received consideration (or an amount of consideration is due) from the customer. If a customer pays consideration before the Group transfers services to the customer, a contract liability is recognized when the payment is made or the payment is due (whichever is earlier). Contract liabilities, disclosed as deferred revenue, are recognized as revenue when the Group performs under the contract (refer to Note 8).

 

Marketing and sales promotion expenses

 

Marketing and sales promotion expenses primarily comprise of online, television, radio and print media advertisement costs as well as event driven promotion cost for the Group’s products and services. Such costs are the amounts paid to or accrued towards advertising agencies or direct service providers for advertising on websites, television, print formats, search engine marketing and any other media. Advertising and business promotion costs are recognized when incurred.

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)

 

Finance income and Finance costs

 

Finance income comprises interest income on term deposits. Interest income is recognized as it accrues in the consolidated statement of profit or loss, using the effective interest rate method (EIR).

 

Finance cost comprises interest expense on borrowings, interest expense on lease liability and unwinding of other financial liabilities. Interest expense is recognized in profit or loss using EIR.

 

Income Taxes

 

The income tax expense comprises of current and deferred income tax. Income tax is recognized in the consolidated statement of Profit and Loss, except to the extent that it relates to items recognized in the other comprehensive income or directly in equity, in which case the related income tax is also recognized accordingly.

 

Current tax

 

Current income tax assets and liabilities for the current period are measured at the amount expected to be recovered from or paid to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted, at the reporting date in the countries where the Group operates and generate taxable income.

 

Current income tax relating to items recognized outside profit or loss is recognized outside profit or loss (either in other comprehensive income or 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 establishes provisions where appropriate.

 

Deferred tax

 

Deferred tax is provided using the liability method on temporary differences between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes at the reporting date. Deferred tax liabilities are recognized for all taxable temporary differences.

 

Deferred tax assets are recognized for all deductible temporary differences, the carry forward of unused tax credits and any unused tax losses, except:

 

● When the deferred tax asset relating to the deductible temporary difference arises from the initial recognition of an asset or liability in a transaction that is not a business combination and, at the time of the transaction, (i) affects neither the accounting profit nor taxable profit or loss and (ii) and does not give rise to equal taxable and deductible temporary differences.

 

● In respect of deductible temporary differences associated with investments in subsidiaries and interests in joint arrangements, deferred tax assets are recognized only to the extent that it is probable that the temporary differences will reverse in the foreseeable future and taxable profit will be available against which the temporary differences can be utilized.

 

Deferred tax assets are recognized to the extent that 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 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 tax asset to be utilized. Unrecognized deferred tax assets are reassessed at each reporting date and are recognized to the extent that it has become probable that future taxable profits will allow the deferred tax asset to be recovered.

 

Deferred tax liabilities are recognized for all taxable temporary differences, except:

 

● When the deferred tax liability arises from the initial recognition of goodwill or an asset or liability in a transaction that is not a business combination and, at the time of the transaction, (i) affects neither the accounting profit nor taxable profit or loss and (ii) and does not give rise to equal taxable and deductible temporary differences.

 

● In respect of taxable temporary differences associated with investments in subsidiaries and interests in joint arrangements, when the timing of the reversal of the temporary differences can be controlled and it is probable that the temporary differences will not reverse in the foreseeable future.

 

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year 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 date.

 

Deferred tax relating to items recognized outside profit or loss is recognized outside profit or loss (either in other comprehensive income or in equity). Deferred tax items are recognized, in correlation to the underlying transaction either in other comprehensive income/loss or directly in equity.

 

Deferred tax assets and deferred tax liabilities are offset if a legally enforceable right exists to set off current tax assets against current income tax liabilities and the deferred taxes relate to the same taxation authority

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)

 

Minimum Alternative Tax

 

Minimum alternate tax (MAT) paid in a year is charged to the statement of profit and loss as current tax for the year. The deferred tax asset is recognized for MAT credit available only to the extent that it is probable that the concerned company will pay normal income tax during the specified period, i.e., the period for which MAT credit is allowed to be carried forward, and MAT Credit asset can be recovered. In the year in which the company recognizes MAT credit as an asset, it is created by way of credit to the statement of profit and loss and shown as part of deferred tax asset. The company reviews the “MAT credit entitlement” asset at each reporting date and writes down the asset to the extent that it is no longer probable that it will pay normal tax during the specified period.

 

Income tax assets and liabilities are off-set against each other and the resultant net amount is presented in the balance sheet, if and only when, (a) the Group currently has a legally enforceable right to set-off the current income tax assets and liabilities, and (b) when it relates to income tax levied by the same taxation authority and where there is an intention to settle the current income tax balances on net basis.

 

Property, plant and equipment (‘PPE’)

 

Property, plant and equipment are stated at cost, net of accumulated depreciation and accumulated impairment losses, if any. All repair and maintenance costs are recognized in the statement of profit or loss as incurred.

 

An item of property, plant and equipment and any significant part initially recognized is derecognized upon disposal or when no future economic benefits are expected from its use or disposal. Any gain or loss arising on de-recognition of the asset (calculated as the difference between the net disposal proceeds and the carrying amount of the asset) is included in profit or loss when the asset is derecognized.

 

Depreciation on PPE is calculated on a straight-line basis using the rates arrived at based on the useful lives estimated by the management. The Group has used the following useful lives to provide depreciation on its PPE.

 

  Particulars   Years
  Computers and peripherals   3
  Office equipment   5
  Furniture and fixtures    
  Leasehold improvements   Amortized over the lower of primary lease period or economic useful life, whichever is less
  Vehicles  3 – 7 years
  Building  60 years

 

Leasehold improvements are amortized over the lower of primary lease period or economic useful life.

 

The residual values, useful lives and methods of depreciation of property, plant and equipment are reviewed at each financial year end and adjusted prospectively, if appropriate.

 

Intangible assets

 

Intangible assets acquired separately are measured on initial recognition at cost. The cost of intangible assets acquired in a business combination is their fair value at the date of acquisition. Following initial recognition, intangible assets are carried at cost less any accumulated amortization (calculated on a straight-line basis over their useful lives) and accumulated impairment losses, if any.

 

Research and development costs

 

Research costs are expensed as incurred. Development expenditures on an individual project are recognized as an intangible asset when the Group can demonstrate:

 

● The technical feasibility of completing the intangible asset so that the asset will be available for use or sale
● Its intention to complete and its ability and intention to use or sell the asset
● How the asset will generate future economic benefits
● The availability of resources to complete the asset
● The ability to measure reliably the expenditure during development

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)

 

Following initial recognition of the development expenditure as an asset, the asset is carried at cost less any accumulated amortization and accumulated impairment losses, if any. Amortization of the asset begins when development is complete and the asset is available for use. It is amortized over the period of expected future benefit in profit or loss. During the period of development, the asset is tested for impairment annually.

 

Internally generated intangibles, excluding capitalized development costs, are not capitalized. Instead, the related expenditure is recognized in profit or loss in the period in which the expenditure is incurred.

 

Intangible assets with finite life are amortized over the useful economic life on straight line basis and assessed for impairment whenever there is an indication that the intangible asset may be impaired. The amortization period and the amortization method for an intangible asset is reviewed at least at the end of each reporting period. Changes in the expected useful life or the expected pattern of consumption of future economic benefits embodied in the asset are considered to modify the amortization period or method, as appropriate, and are treated as changes in accounting estimates. The amortization expense on intangible assets is recognized in profit or loss.

 

Intangible assets are amortized as below:

 

Intellectual property rights 3 years
Computer software and websites 3 to 5 years
Supplier relationship 15 years
Trademarks 15 years
Customer relationships 10-15 years

 

Leases

 

The Group 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.

 

Group as a lessee

 

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

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)

 

Right-of-use assets

 

The Group 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 accumulated impairment losses, and adjusted for any remeasurement of lease liabilities. The cost of right-of-use assets includes the amount of lease liabilities recognized, initial direct costs incurred, 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, as follows:

 

●Buildings 3 to 9 years
●Others 3 to 5 years

 

If ownership of the leased asset transfers to the Group 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. Refer “Impairment of non-financial assets” policy.

 

Lease liabilities

 

At the commencement date of the lease, the Group 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 Group and payments of penalties for terminating the lease, if the lease term reflects the Group exercising the option to terminate. Variable lease payments that do not depend on an index or a rate are recognized as expenses (unless they are incurred to produce inventories) in the period in which the event or condition that triggers the payment occurs.

 

In calculating the present value of lease payments, the Group 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.

 

Short-term leases and leases of low-value assets

 

The Group applies the short-term lease recognition exemption to its short-term leases of building (i.e., those leases that have a lease term of 12 months or less from the commencement date and do not contain a purchase option). It also applies the lease of low-value assets recognition exemption to leases of office equipment that are considered to be low value. Lease payments on short-term leases and leases of low-value assets are recognised as expense on a straight-line basis over the lease term.

 

Refer to Note 42 for disclosures on leases.

 

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.

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)

 

(i) Financial assets

 

Initial recognition and measurement

 

Financial assets are classified, at initial recognition, as subsequently measured at amortized cost, at fair value through other comprehensive income (OCI), and fair value through profit or loss.

 

The classification of financial assets at initial recognition depends on the financial asset’s contractual cash flow characteristics and the Group’s business model for managing them. With the exception of trade receivables that do not contain a significant financing component or for which the Group has applied the practical expedient, the Group initially measures a financial asset at its fair value plus, in the case of a financial asset not measured at fair value through profit or loss, transaction costs. Trade receivables that do not contain a significant financing component or for which the Group has applied the practical expedient are measured at the transaction price determined as per IFRS 15.

 

Subsequent measurement

 

For purposes of subsequent measurement, financial assets are classified in four categories:

 

  ● Financial assets at amortized cost (debt instruments)
  ● Financial assets at fair value through OCI with recycling of cumulative gains and losses (debt instruments)
  ● Financial assets designated at fair value through OCI with no recycling of cumulative gains and losses upon derecognition (equity instruments)
  ●

Financial assets at fair value through profit or loss

 

Financial assets at amortized cost (debt instruments)

 

The Group measures financial assets at amortized cost if both of the following conditions are met:

 

  ● The financial asset is held within a business model with the objective to hold financial assets in order to collect contractual cash flows, and
     
  ● 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

 

Financial assets at amortized cost are subsequently measured using the effective interest rate (EIR) method and are subject to impairment. Gains and losses are recognized in profit or loss when the asset is derecognized, modified or impaired.

 

The Group’s financial assets at amortized cost includes cash and cash equivalents, trade receivables, cash and cash equivalents, term deposits, security deposits and employee loans. For more information on receivables, refer to Note 26. The Group does not have material financial assets classified under other categories.

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)

 

Derecognition

 

A financial asset (or, where applicable, a part of a financial asset or part of a group of similar financial assets) is primarily derecognized (i.e., removed from the Group’s consolidated statement of financial position) when:

 

  ● The rights to receive cash flows from the asset have expired

 

Or

 

●The Group has transferred its rights to receive cash flows from the asset or has assumed an obligation to pay the received cash flows in full without material delay to a third party under a ‘pass-through’ arrangement; and either (a) the Group has transferred substantially all the risks and rewards of the asset, or (b) the Group has neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred control of the asset.

 

When the Group has transferred its rights to receive cash flows from an asset or has entered into a pass-through arrangement, it evaluates if, and to what extent, it has retained the risks and rewards of ownership.

 

When the Group has transferred its rights to receive cash flows from an asset or has entered into a pass- through arrangement, it evaluates if, and to what extent, it has retained the risks and rewards of ownership. When it has neither transferred nor retained substantially all of the risks and rewards of the asset, nor transferred control of the asset, the Group continues to recognize the transferred asset to the extent of its continuing involvement. In that case, the Group also recognises an associated liability. The transferred asset and the associated liability are measured on a basis that reflects the rights and obligations that the Group has retained.

 

Impairment of financial assets

 

The Group recognized an allowance for expected credit losses (ECLs) for all financial assets which are debts instruments and not held at fair value through profit or loss. ECLs are based on the difference between the contractual cash flows due in accordance with the contract and all the cash flows that the Group expects to receive, discounted at an approximation of the original effective interest rate. The expected cash flows will include cash flows from the sale of collateral held or other credit enhancements that are integral to the contractual terms.

 

ECLs are recognized in two stages. For credit exposures for which there has not been a significant increase in credit risk since initial recognition, ECLs are provided for credit losses that result from default events that are possible within the next 12-months (a 12-month ECL). For those credit exposures for which there has been a significant increase in credit risk since initial recognition, a loss allowance is required for credit losses expected over the remaining life of the exposure, irrespective of the timing of the default (a lifetime ECL).

 

For trade receivables and contract assets, the Group applies a simplified approach in calculating ECLs. Therefore, the Group does not track changes in credit risk, but instead recognizes a loss allowance based on lifetime ECLs at each reporting date. The Group has established a provision matrix that is based on its historical credit loss experience, adjusted for forward-looking factors specific to the debtors and the economic environment.

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)

 

ii) Financial liabilities

 

Initial recognition and measurement

 

Financial liabilities are classified, at initial recognition, as financial liabilities at fair value through profit or loss, loans and borrowings or payables, as appropriate. All financial liabilities are recognized initially at fair value and, in the case of loans and borrowings and payables, net of directly attributable transaction costs.

 

The Group’s financial liabilities include trade and other payables, interest-bearing borrowings including bank overdrafts.

 

Subsequent measurement

 

The measurement of financial liabilities depends on their classification, as described below:

 

Financial liabilities at fair value through profit or loss

 

Financial liabilities at fair value through profit or loss include share warrants for which gain or loss is routed through profit or loss.

 

Loans and borrowing

 

After initial recognition, interest-bearing loans and borrowings are subsequently measured at amortized cost using the EIR method. The EIR amortization is included as finance costs in profit or loss. This category applies to interest- bearing borrowings, trade and other payables.

 

Derecognition

 

A financial liability is derecognized when the obligation under the liability is discharged or cancelled or expires. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the derecognition of the original liability and the recognition of a new liability. The difference in the respective carrying amounts is recognized in the statement of profit or loss.

 

Offsetting of financial instruments

 

Financial assets and financial liabilities are offset and the net amount is reported in the consolidated statement of financial position if there is a currently enforceable legal right to offset the recognized amounts and there is an intention to settle on a net basis, to realize the assets and settle the liabilities simultaneously.

 

Fair value measurement

 

The Group measures financial instruments, at fair value such as warrants etc. at each balance sheet date. The Group also discloses fair value of financial instruments and certain other assets and liabilities in notes.

 

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 measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either:

 

● In the principal market for the asset or liability, Or

 

● In the absence of a principal market, in the most advantageous market for the asset or liability

 

The principal or the most advantageous market must be accessible by the Group.

 

The Group uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximising the use of relevant observable inputs and minimising the use of unobservable inputs.

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)

 

Fair-value related disclosures for financial instruments that are measured at fair value or where fair values are disclosed, are summarised in the note no 7.

 

Treasury shares

 

Own equity instruments that are reacquired (treasury shares) are recognized at cost and deducted from equity. No gain or loss is recognized in profit or loss on the purchase, sale, issue or cancellation of the Group’s own equity instruments. Any difference between the carrying amount and the consideration, if reissued, is recognized in the share premium.

 

Cash and cash equivalents

 

Cash and short-term deposits in the statement of financial position comprise cash at banks, payment gateways and on hand and short-term deposits with a maturity of three months or less, which are subject to an insignificant risk of changes in value.

 

For the purpose of the consolidated statement of cash flows, cash and cash equivalents consist of cash and short-term deposits, as defined above, net of outstanding bank overdrafts as they are considered an integral part of the Group’s cash management.

 

Inventories

 

Inventories are valued at the lower of cost and net realizable value. Cost is determined on FIFO (First in First out) basis and net realizable value is the estimated selling price in the ordinary course of business, less estimated costs necessary to make the sale. Inventories include tickets for amusement parks and attractions.

 

Borrowing cost

 

Borrowing cost includes interest and amortization of ancillary costs incurred in connection with the arrangement of borrowings.

 

Borrowing costs directly attributable to the acquisition, construction or production of an asset that necessarily takes a substantial period of time to get ready for its intended use or sale are capitalized as part of the cost of the respective asset. All other borrowing costs are expensed in the period they occur.

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)

 

Impairment of non-financial assets

 

Assets that have an indefinite useful life and goodwill are not subject to amortization and are tested at least annually or when there are indicators that an asset may be impaired, for impairment. Assets that are subject to depreciation and amortization are reviewed for impairment, whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. Such circumstances include, though are not limited to, significant or sustained decline in revenues or earnings and material adverse changes in the economic environment.

 

Impairment test for goodwill is performed at the level of each CGU or groups of CGUs expected to benefit from acquisition-related synergies and represent the lowest level within the entity at which the goodwill is monitored for internal management purposes and which is not higher than the Group’s operating segment.

 

An impairment loss is recognized whenever the carrying amount of an asset or its cash-generating unit exceeds its recoverable amount. The recoverable amount of an asset is the greater of its fair value less costs to sell and value in use. To calculate value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market rates and the risks specific to the asset. For an asset that does not generate largely independent cash inflows, the recoverable amount is determined for the cash-generating unit to which the asset belongs. Fair value less costs to sell is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants, less the costs of disposal. Impairment losses, if any, are recognized in profit or loss as a component of depreciation and amortization expense.

 

Provisions

 

Provisions are recognized when the Group has a present obligation (legal or constructive), as a result of a past event, that 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. The expense relating to any provision is presented in profit or loss.

 

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.

 

These estimates are reviewed at each reporting date and adjusted to reflect the current best estimates.

 

Where the Group expects some or all of a provision to be reimbursed, the reimbursement is recognized as a separate asset but only when the reimbursement is virtually certain. The expense relating to any provision is presented in the consolidated statement of Profit and Loss net of any reimbursement.

 

Contingent liabilities

 

Disclosure for a contingent liability is made when there is a possible obligation or a present obligation that may, but probably will not, require an outflow of resources. When there is a possible obligation or a present obligation in respect of which the likelihood of outflow of resources is remote, no provision or disclosure is made. A contingent liability also arises in extremely rare cases where there is a liability that cannot be recognized because it cannot be measured reliably.

 

Employment benefit plan

 

The Group’s post-employment benefits include defined benefits plan and defined contribution plans. The Group also provides other benefits in the form of deferred compensation and compensated absences.

 

Under the defined benefit retirement plan, the Group provides benefit in the form of Gratuity under the Payment of Gratuity Act 1972 (India). Under the plan, a lump sum payment is made to eligible employees at retirement or termination of employment based on respective employee’s salary and years of service with the Group.

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)

 

For defined benefit retirement plans, the difference between the fair value of the plan assets and the present value of the plan liabilities is recognized as an asset or liability in the statement of financial position. Scheme liabilities are calculated using the projected unit credit method and applying the principal actuarial assumptions as at the date of statement of financial position. Plan assets are assets that are qualifying insurance policies.

 

All expenses, excluding remeasurements of the net defined benefit liability (asset), in respect of defined benefit plans are recognized in profit or loss as incurred. Remeasurement, comprising actuarial gains and losses and the return on the plan assets (excluding amounts included in net interest on the net defined benefit liability (asset)), are recognized immediately in the statement of financial position with a corresponding debit or credit to retained earnings through OCI (Other comprehensive income) in the period in which they occurred. The remeasurements are not re-classified to profit or loss in subsequent years.

 

The Group’s contribution to defined contribution plans are recognized in profit or loss as and when the services are rendered by employees. The Group has no further obligations under these plans beyond its periodic contributions.

 

The employees of the Group are entitled to compensated absences. The employees can carry forward up to the specified portion of the unutilized accumulated compensated absences and utilize it in future periods or receive cash at retirement or termination of employment. The Group records an obligation for compensated absences in the period in which the employee renders the services that increases this entitlement. The Group measures the expected cost of compensated absences as the additional amount that the Group expects to pay as a result of the unused entitlement that has accumulated at the end of the reporting period. The Group recognizes accumulated compensated absences based on actuarial valuation. Any actuarial gains or losses are recognized in OCI (Other comprehensive income) in the period in which they arise. Non-accumulating compensated absences are recognized in the period in which the absences occur.

 

Share-based payments / Restricted stock units (RSUs)

 

Employees (including senior executives) of the Group receive part of their remuneration in the form of share-based payments, whereby employees render services as consideration for equity instruments (equity-settled transactions).

 

The cost of equity-settled transactions is determined at the fair value at the date when the grant is made using Black- Scholes valuation model, further details of which are given in Note 30.

 

That cost is recognized in employee benefits expense, together with a corresponding increase in equity (other capital reserves), over the period in which the service conditions and, where applicable, the performance conditions are fulfilled (the vesting period). The cumulative expense recognized for equity-settled transactions at each reporting date until the vesting date reflects the extent to which the vesting period has expired and the Group’s best estimate of the number of equity instruments that will ultimately vest. The expense or credit in profit or loss for a period represents the movement in cumulative expense recognized as at the beginning and end of that period.

 

Service conditions and performance conditions, if any, are not taken into account when determining the grant date fair value of awards, but the likelihood of the conditions being met is assessed as part of the Group’s best estimate of the number of equity instruments that will ultimately vest.

 

No expense is recognized for awards that do not ultimately vest because service conditions have not been met.

 

Earnings (loss) per share

 

The Group’s Earnings (Loss) per Share (‘EPS’) is determined based on the net profit/(loss) attributable to the shareholders’ of the parent company. Basic EPS is computed using the weighted average number of shares outstanding during the year.

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)

 

Diluted EPS is computed using the weighted average number of common and dilutive common equivalent shares outstanding during the year including, share options and warrants (using the treasury stock method for options and warrants), except where the result would be anti-dilutive.

 

If the number of ordinary or potential ordinary shares outstanding increase as a result of a capitalization, bonus issue or share split, or decrease as a result of a reverse share split, the calculation of basic and diluted earnings per share for all periods presented is adjusted respectively, further details of which are given in Note 18.

 
v3.25.2
Standards and interpretations issued but not effective
 12 Months Ended
Mar. 31, 2025
Disclosure of expected impact of initial application of new standards or interpretations [abstract]  
Standards and interpretations issued but not effective

3. Standards and interpretations issued but not effective

 

The new standards, interpretations and amendments to Standards that are issued to the extent relevant to the Group, but not yet effective, up to the date of issuance of the Group’s financial statements are disclosed below. The Group intends to adopt these Standards, if applicable, when they become effective.

 

IFRS 18, “Presentation and Disclosure in Financial Statements”

 

In April 2024, the IASB issued IFRS 18, “Presentation and Disclosure in Financial statements”, a comprehensive new accounting standard which replaces existing IAS 1, “Presentation of Financial Statements”, carrying forward many of the requirements in IAS 1 unchanged and complementing them with new requirements. New requirements of IFRS 18 include mandates to:

 

- present specified categories and defined subtotals in the statement of profit or loss and other comprehensive loss;

 

- provide disclosures on management-defined performance measures (MPMs) in the notes to the consolidated financial statements; and

 

- improve aggregation and disaggregation of information in the consolidated financial statements.

 

This standard is effective for annual reporting periods beginning on or after January 1, 2027. Earlier application is permitted, but will need to be disclosed. The Company is currently assessing the impact of adopting IFRS 18 on the consolidated financial statements.

 

Amendments to IFRS 9 and IFRS 7 for Classification and Measurement of financial instruments

 

On May 30, 2024, the IASB issued amendments to IFRS 9, “Financial Instruments”, and IFRS 7, “Financial Instruments: Disclosures”, relating to the classification and measurement of financial instruments, which:

 

● clarify a financial liability is derecognized on the ‘settlement date’ - i.e., when the related obligation is discharged or cancelled or expires or the liability otherwise qualifies for de recognition. They also introduce an accounting policy option to derecognize financial liabilities that are settled through an electronic payment system before the settlement date, if certain conditions are met;

 

● clarify how to assess the contractual cash flow characteristics of financial assets that include environmental, social and governance (“ESG”) linked features and other similar contingent features;

 

● clarify the treatment of non-recourse assets and contractually linked instruments; and

 

● require additional disclosures in IFRS 7 for financial assets and liabilities with contractual terms that reference a contingent event (including those that are ESG-linked), and equity instruments classified at fair value through other comprehensive income (FVTOCI).

 

The amendments are effective for annual periods starting on or after January 1, 2026. Early adoption is permitted, with an option to early adopt the amendments for contingent features only. The Company is currently assessing the impact of adopting IFRS 9 and IFRS 7 on these consolidated financial statements.

 

IFRS 19, “Subsidiaries without Public Accountability: Disclosures”

 

In May 2024, the IASB issued IFRS 19, which allows eligible entities to elect to apply its reduced disclosure requirements while still applying the recognition, measurement and presentation requirements in other IFRS accounting standards. To be eligible, at the end of the reporting period, an entity must be a subsidiary as defined in IFRS 10, cannot have public accountability and must have a parent (ultimate or intermediate) that prepares consolidated financial statements, available for public use, which comply with IFRS accounting standards.

 

IFRS 19 will become effective for reporting periods beginning on or after 1 January 2027, with early application permitted.

 

As the Group’s equity instruments are publicly traded, it is not eligible to elect to apply IFRS 19.

 
v3.25.2
Significant accounting judgments, estimates and assumptions
 12 Months Ended
Mar. 31, 2025
Significant Accounting Judgments Estimates And Assumptions  
Significant accounting judgments, estimates and assumptions

4. Significant accounting judgments, estimates and assumptions

 

The preparation of the Group’s consolidated financial statements requires management to make judgments, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, and the disclosure of contingent liabilities, at the end of the reporting period. However, uncertainty about these assumptions and estimates could result in outcomes that require a material adjustment to the carrying amount of the assets or liabilities in future periods.

 

4.1 Significant judgments in applying the Group’s accounting policies

 

In the process of applying the Group’s accounting policies, management has made the following judgments, which have the most significant effect on the amounts recognized in the consolidated financial statements:

 

Determining the lease term of contracts with renewal and termination options - Group as lessee

 

The Group determines the lease term as the non-cancellable term of the lease, together with any periods covered by an option to extend the lease if it is reasonably certain to be exercised, or any periods covered by an option to terminate the lease, if it is reasonably certain not to be exercised.

 

The Group has several lease contracts that include extension and termination options. The Group applies judgement in evaluating whether it is reasonably certain whether or not to exercise the option to renew or terminate the lease. That is, it considers all relevant factors that create an economic incentive for it to exercise either the renewal or termination. After the commencement date, the Group reassesses the lease term if there is a significant event or change in circumstances that is within its control and affects its ability to exercise or not to exercise the option to renew or to terminate (e.g., construction of significant leasehold improvements or significant customization to the leased asset).

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)

 

4.2 Significant accounting estimates and assumptions

 

The Group based its assumptions and estimates on parameters available when the consolidated financial statements were prepared. Existing circumstances and assumptions about future developments, however, may change due to market changes or circumstances arising that are beyond the control of the Group. Such changes are reflected in the assumptions when they occur.

 

The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year, are described below. Actual results could differ from these estimates.

 

a)Impairment reviews

 

Impairment exists when the carrying value of an asset or cash generating unit exceeds its recoverable amount, which is higher of value in use and fair value less cost to sell. The Group first determines value in use to calculate recoverable amount. If value in use calculation indicates impairment, then fair value less cost to sell is also determined. The value in use calculation is based on a DCF model. The cash flows are derived from the budget approved by the management for the next five years and do not include restructuring activities that the Group is not yet committed to or significant future investments that will enhance the performance of the assets of the CGU being tested. After budget period, cash flow is determined based on extrapolation. The value in use is sensitive to the discount rate used for the DCF model as well as the expected future cash-inflows and the growth rate used for extrapolation purposes. These estimates are most relevant to goodwill and other intangibles with indefinite useful lives recognized by the Group.

 

The key assumptions used to determine the recoverable amount for the CGUs, including sensitivity analysis, are disclosed and further explained in Note 20.

 

The Group tests goodwill for impairment annually on March 31 and whenever there are indicators of impairment.

 

b)Measurement of Expected Credit Loss (ECL) for uncollectible trade receivables and contract assets

 

The Group uses a provision matrix to calculate ECLs for trade receivables and contract assets. The provision matrix is initially based on the Group’s historical observed default rates. The Group calibrates the matrix to adjust the historical credit loss experience with forward-looking information. At every reporting date, the historical observed default rates are updated and changes in the forward-looking estimates are analyzed. Also refer to Note 26.

 

c)Loyalty programs

 

Customers are entitled to loyalty points on certain transactions that can be redeemed for future qualifying transactions. The Group estimates revenue allocation between the loyalty program and the other components of the sale with assumptions about the expected redemption rates. The Group considers the likelihood that the customer will redeem the points based on past behavior and expected changes. The Group updates its estimates of the points that will be redeemed on a quarterly basis and any adjustments to the contract liability balance are charged against revenue. Also refer to Note 35.

 

d)Taxes

 

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 management judgment is required to determine the amount of deferred tax assets that can be recognized, based upon the likely timing and the level of future taxable profits, future tax planning strategies and recent business performances and developments. The Group has not recognized deferred tax asset on unused tax losses and temporary differences in most of the subsidiaries of the Group. Also refer to Note 25.

 

e)Defined benefit plans

 

The costs of post retirement benefit obligation under the Gratuity plan are determined using actuarial valuations. An actuarial valuation involves making various assumptions that may differ from actual developments in the future. These include the determination of the discount rate, future salary increases, mortality rates and future pension increases. Due to the complexities involved in the valuation and its long-term nature, a defined benefit obligation is highly sensitive to changes in these assumptions. All assumptions are reviewed at each reporting date. Also refer to Note 34 for assumptions and sensitivities.

 

f)Estimating the incremental borrowing rate

 

The Group cannot readily determine the interest rate implicit in the lease, therefore, it uses its incremental borrowing rate (IBR) to measure lease liabilities. The IBR is the rate of interest that the Group would have to pay to borrow over a similar term, and with a similar security, the funds necessary to obtain an asset of a similar value to the right-of-use asset in a similar economic environment. The IBR therefore reflects what the Group ‘would have to pay’, which requires estimation when no observable rates are available or when they need to be adjusted to reflect the terms and conditions of the lease. The Group estimates the IBR using observable inputs (such as market interest rates) when available.

 

g)Useful life of Intangible assets

 

The useful lives of the Group’s intangible assets are determined by management at the time the asset is acquired based on historical experience, after considering market conditions, industry practice, technological developments, obsolescence and other factors. The useful life is reviewed by management periodically, including at each financial year end. The lives are based on historical experience with similar assets as well as anticipation of future events, which may impact their life, such as changes in technology.

 

h)Recognition of variable consideration incentives pertaining to air ticketing

 

The Group receives incentives from Global Distribution System (“GDS”) providers for achieving minimum performance thresholds of ticket segments sales over the term of the agreement. The Group does not have a right to payment until the ticket segment thresholds as agreed are met. The variable considerations (i.e. incentives) to be included in the transaction price is estimated at inception and adjusted at the end of each reporting period as additional information becomes available only to the extent that it is highly probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved. For doing such assessment, management considers various assumptions which primarily includes the Group’s estimated air ticket sales growth rates and the impact of marketing initiatives on the Group’s ability to achieve sales targets set by the GDS providers. These assumptions are forward looking and could be affected by future economic and market conditions. Also refer note 8.

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)
v3.25.2
Segment information
 12 Months Ended
Mar. 31, 2025
Segment Information  
Segment information

 

5. Segment information

 

For management purposes, the Group is organized into lines of business (LOBs) based on its products and services and has three reportable segments as mentioned below. The LOBs offer different products and services, and are managed separately because the nature of products and/ or methods used to distribute the services are different. For each of these LOBs, the Chief Executive Officer (CEO) reviews internal management reports for making decisions related to performance evaluation and resource allocation. Thus, the CEO is construed to be the Chief Operating Decision Maker (CODM). The CODM uses Adjusted Margin, a non IFRS measure, to assess segment profitability and in deciding how to allocate resources and in assessing performance. The Adjusted Margin is arrived at by (i) adding back customer inducement costs including customers incentives, customer acquisition cost and loyalty program costs, which are recorded as a reduction of revenue, and (ii) reducing service costs, from the ‘Revenue as per IFRS - Rendering of services.’

 

The following summary describes the operations in each of the Group’s reportable segments:

 

1. Air Ticketing: Through internet, mobile based platform and call-centers, the Group provides the facility to book and service international and domestic air tickets to ultimate customers through B2C (Business to Consumer), Business to Enterprise (B2E) and B2B2C (Business to Business to Consumer) channels.

 

2. Hotels and Packages: Through an internet and mobile based platform and call-centers, the Group provides holiday packages and hotel reservations and Meeting, Incentives, Conferences, & Exhibitions (M.I.C.E). For internal reporting purpose, the revenue related to Airline Ticketing issued as a component of Group developed holiday package is assigned to Hotel and Package segment and is recorded on a gross basis. The hotel reservations form integral part of the holiday packages and, accordingly, is treated as one reportable segment due to similarities in the nature of services.

 

3. Other services primarily include the income from sale of rail and bus tickets and income from freight forwarding services. The other services do not meet any of the quantitative thresholds to be a reportable segment for any of the years presented in these consolidated financial statements. However, management has considered this as the reportable segment and disclosed it separately, since the management believes that information about the segment would be useful to users of the consolidated financial statements.

 

Information about Reportable Segments:

 

Particulars  2023   2024   2025   2023   2024   2025   2023   2024   2025          
   Reportable segments             
   Air Ticketing   Hotels and Packages   Other Services   Total 
   March 31   March 31   March 31   March 31 
Particulars  2023   2024   2025   2023   2024   2025   2023   2024   2025   2023   2024   2025 
                                                 
Revenue as per IFRS - Rendering of services*   1,779,972    1,729,305    1,925,254    1,471,270    1,693,962    5,138,044    154,305    160,531    320,165    3,405,548    3,583,798    7,383,464 
Customer inducement and acquisition costs   2,555,320    2,773,118    1,662,928    263,756    312,206    350,741    23,380    18,544    15,858    2,842,456    3,103,868    2,029,527 
Service cost   -    -    -    (669,098)   (866,039)   (4,016,080)   -    -    (22,966)   (669,098)   (866,039)   (4,039,046)
Adjusted Margin   4,335,292    4,502,423    3,588,182    1,065,927    1,140,129    1,472,706    177,685    179,075    313,057    5,578,906    5,821,627    5,373,945 
                                                             
Other revenue #                                                421,717    606,099    571,058 
Other income                                                152,520    102,362    108,957 
Customer inducement and acquisition costs (recorded as a reduction of revenue)                                                (2,842,455)   (3,103,868)   (2,029,527)
Personnel expenses                                                (1,148,434)   (1,348,215)   (1,596,258)
Marketing and sales promotion expenses                                                (336,472)   (459,935)   (430,106)
Other operating expenses                                                (1,554,963)   (1,579,352)   (1,779,465)
Finance cost                                                (326,399)   (286,998)   (106,877)
Depreciation and amortization                                                (190,152)   (197,527)   (308,899)
Finance income                                                28,944    170,714    207,824 
Listing and related expenses                                                (23,591)   (54,238)   - 
Impairment of loan to joint venture                                                (1,000)   -    - 
(Loss)/ Profit before taxes                                                (241,380)   (329,331)   10,652 
Tax (expense)/ benefit                                                (46,788)   (37,174)   12,849 
(Loss) / Profit for the year                                                (288,168)   (366,505)   23,501 

 

*There were no inter-segment revenue during the year ended March 31, 2023, March 31, 2024 and March 31, 2025. This amount constitutes of ‘revenue from external customer only.

 

#Other revenue primarily comprises the advertisement income from hosting advertisements on our internet web-sites, income from sale of coupons and vouchers and income from facilitating website access to travel insurance companies. The operations do not meet any of the quantitative thresholds to be a reportable segment for any of the periods presented in these consolidated financial statements.

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)

 

Assets and liabilities are not identified to any reportable segments, since the Group uses them interchangeably across segments and, consequently, the Management believes that it is not practicable to provide segment disclosures relating to total assets and liabilities.

 

Notes: For purposes of reporting to the CODM, certain promotion expenses including upfront cash incentives, loyalty programs costs for customer inducement and acquisition costs for promoting transactions across various booking platforms, which are reported as a reduction of revenue, are added back to the respective segment revenue lines and marketing and sales promotion expenses. For reporting in accordance with Ind AS, such expenses are recorded as a reduction from the respective revenue lines. Therefore, the reclassification excludes these expenses from the respective segment revenue lines and adds them to the marketing and sales promotion expenses (included under Unallocated expenses)

 

Reconciliation of Reportable Segments Revenue to the Group’s Total Revenue:

 

             
   Total 
   March 31 
Particulars  2023   2024   2025 
Revenue as per IFRS - Rendering of services   3,405,548    3,583,798    7,383,464 
Other Revenue   421,717    606,099    571,058 
Total Revenue   3,827,265    4,189,897    7,954,522 

 

Geographical Information:

 

Given that Company’s products and services are available on a technology platform to customers globally, consequently, the necessary information to track accurate geographical location of customers is not available.

 

Non-current assets are disclosed based on respective physical location of the assets

 

   Non current assets* 
   March 31, 2024   March 31, 2025 
         
India   1,147,306    2,664,836 
Others   -    - 
Total   1,147,306    2,664,836 

 

*Non-current assets presented above represent property, plant and equipment, right-of-use assets and intangible assets and goodwill.

 

Major Customers:

 

Considering the nature of business, customers normally include individuals and business enterprises. Further, none of the corporate and other customers account for more than 10% or more of the Group’s revenues in any of the three years presented.

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)
v3.25.2
Group information
 12 Months Ended
Mar. 31, 2025
Group Information  
Group information

 

6. Group information

 

A.The Group’s subsidiaries along with the proportion of ownership interests and the voting rights held directly or indirectly by the Parent Company are disclosed below. The country of incorporation is also their principal place of business. The consolidated financial statements of the Group includes:

 

Information about group subsidiaries

 

         % Equity interest 
Name  Principal activities  Country of incorporation 

March 31,

2024

  

March 31,

2025

 
THCL Travel Holding Cyprus Limited  Investment Company  Cyprus   100    100 
Yatra USA Corp  Investment Company  USA   100**   100**
Yatra USA, LLC  Travel & Travel related services  USA   100    100 
Asia Consolidated DMC Pte. Ltd.  Travel & Travel related services  Singapore   100    100 
Middle East Travel Management Company Private Limited  Travel & Travel related services  India   100    100 
Yatra Online Limited  Travel & Travel related services  India   64.46*   64.46*
Yatra Corporate Hotel Solutions Private Limited  Travel & Travel related services  India   64.46#   64.46#
TSI Yatra Private Limited  Travel & Travel related services  India   64.46#   64.46#
Yatra TG Stays Private Limited  Travel & Travel related services  India   64.46#   64.46#
Yatra Hotel Solutions Private Limited  Travel & Travel related services  India   64.46#   64.46#
Yatra for Business Private Limited  Travel & Travel related services  India   64.46#   64.46#
Travel.Co.In Private Limited  Travel & Travel related services  India   64.46#   64.46#
Yatra Online Freight Services Private Limited  Freight forwarding services  India   64.46#   64.46#
Yatra Middle East L.L.C-FZ  Computer programming, consultancy and related activities, arranging and assembling tours and forwarding of freight  United Arab Emirates   64.46***   64.46***
Yatra MICE and Holidays Limited (formerly known as Adventure & Nature Network Private Limited)  Travel & Travel related services  India   -    63.82****
Globe All India Services Limited  Travel & Travel related services  India   -    64.46*

 

*Remaining shares of 35.54% (March 31, 2024: 35.54%) are held by the public and institutional shareholder (non-controlling shareholder) as at March 31, 2025. Refer to note 29.

 

**Includes 18.63% (March 31, 2024: 18.63%) Class F Shares owned by Terrapin 3’s founder stockholders having no voting right. Terrapin 3’s founder stockholders also own Class F Shares in the Company having no economic value and have an exchange right to acquire Ordinary Shares of the Company.

 

***On February 9, 2023, Yatra Middle East L.L.C.-FZ was incorporated in Dubai, United Arab Emirates with principal activity of Computer programming, consultancy and related activities, arranging and assembling tours and forwarding of freight. Yatra Online, Inc. (the “Company”), through its subsidiary, Yatra Online Limited holds all of the outstanding shares of Yatra Middle East L.L.C.-FZ.

 

Remaining shares of 35.54% (March 31, 2024: 35.54%) are held indirectly by the non-controlling shareholder as at March 31, 2025 through Yatra Online Limited.

 

****Remaining shares of 36.18% are held are held indirectly by the non-controlling shareholder as at March 31, 2025 through Yatra Online Limited.

 

#Remaining shares of 35.54% (March 31, 2024: 35.54%) are held indirectly by the non-controlling shareholder as at March 31, 2025 through Yatra Online Limited.

 

B.Joint Venture

 

The Group had a 50% interest in Yatra MICE and Holidays Limited (formerly known as Adventure & Nature Network Private Limited) as at March 31, 2024 which has became subsidiary from joint venture during the year. For more detail, refer to Note 14.

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)

 

C.Non-controlling interests

 

Details of subsidiaries that have material non-controlling interests

 

The non-controlling interests that are material to the Group primarily relates to Yatra Online Limited (Indian subsidiary and its step-down subsidiaries) as at and for the year ended March 31, 2025.

 

The table below shows summarized consolidated financial information of Yatra Online Limited, before intercompany eliminations:

 

(i) Consolidated statement of financial position

              
   As at March 31 
   2024   2025   2025 
   INR   INR   USD 
Non- current assets   1,526,239    2,982,968    34,916 
Current assets   10,538,735    10,086,815    118,071 
Non- current liabilities   339,769    415,344    4,862 
Current liabilities   4,454,016    4,979,925    58,292 
Total equity   7,271,189    7,674,514    89,833 

 

Attributable to:            
Non – controlling interest   2,371,802    2,501,141    29,277 
Equity attributable to equity holders of the parent   4,899,387    5,173,373    60,556 

 

(ii) Consolidated statement of profit or loss and other comprehensive income or loss

 

                  
   For the year ended March 31 
   2023   2024   2025   2025 
   INR   INR   INR   USD 
                 
Revenue   3,801,597    4,186,676    7,950,976    93,070 
Other income   144,954    102,294    113,653    1,330 
Expenses   (3,595,026)   (4,195,487)   (7,779,148)   (91,059)
Finance income   28,760    157,132    203,964    2,388 
Finance cost   (234,097)   (245,957)   (101,256)   (1,185)
Listing and related expenses   (23,591)   (54,238)   -    - 
Tax expense   (45,697)   (32,514)   14,472    169 
Profit/ Loss) for the year   76,900    (82,094)   402,661    4,713 
Other comprehensive income for the year, net of tax   (10,458)   (5,958)   (3,058)   (36)
Total comprehensive income / (loss) for the year, net of tax   66,442    (88,052)   399,603    4,677 
                     
(Loss)/ Profit for the year attributable to:                    
Non-controlling interests   1,084    (29,175)   130,426    1527 
Equity holders of the parent   75,816    (52,919)   272,236    3,187 
                     
Total comprehensive income / (loss) attributable to:                    
Non-controlling interests   937    (31,293)   129,344    1,514 
Equity holders of the parent   65,505    (56,759)   270,259    3,164 

 

(iii) Consolidated statement of cash flows

 

                      
      For the year ended March 31 
      2023  2024   2025   2025 
      INR  INR   INR   USD 
Net cash used in operating activities     (1,530,819 )   (1,424,478)   (886,480)   (10,377)
Net cash used in/ generated from investing activities     (166,655 )   (2,337,311)   936,981    10,968 
Net cash generated/ (used) in financing activities     1,384,190    4,663,085    (1,022,045)   (11,964)
Net increase/ (decrease) in cash and cash equivalents     (313,284 )   901,296    (971,544)   (11,373)

 

D.Change in interest without loss of control

 

Pursuant to Indian IPO of Yatra Online Limited (“Indian subsidiary”), non-controlling interest share has increased from 1.41% to 35.54%. Following is a schedule of change in interest without loss of control:

 

For the year ended March 31, 2024

 

     
Cash consideration received from non-controlling shareholders*   7,688,896 
Less: Proportionate interest of non-controlling shareholder in net asset of Indian subsidiary   2,656,614 
Difference recognized in Non-controlling interest reserve within equity   5,032,282 

 

*disclosed as “Change in non-controlling interest” under financing activities in Consolidated Statement of Cash flow

 

Additional NCI measurement on the date of change in interest:
 

     
Proportionate interest of non-controlling shareholder in net asset of Indian subsidiary   2,656,614 
Less: Transaction costs attributed to NCI   278,757 
Amount recognized as NCI   2,377,857 

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)
v3.25.2
Fair value measurement
 12 Months Ended
Mar. 31, 2025
Fair Value Measurement  
Fair value measurement

 

7. Fair value measurement

 

Set out below is a comparison by class of the carrying amounts and fair value of the Group’s financial instruments that are carried in the consolidated financial statements.

 

Fair values

 

The management assessed that the fair values of trade receivables, cash and cash equivalent, term deposits, trade payables, borrowings, security deposits and other liabilities approximates their carrying amounts largely due to the short-term maturities of these instruments.

 

   Carrying value   Fair value 
   As at March 31,   As at March 31,   As at March 31,   As at March 31, 
   2024   2025   2024   2025 
Financial assets                    
Assets carried at amortized cost                    
Trade and other receivables   4,637,243    5,568,241    4,637,243    5,568,241 
Cash and cash equivalents   1,741,950    605,802    1,741,950    605,802 
Term deposits   2,757,824    1,354,170    2,757,824    1,300,155 
Other financial assets   167,297    155,436    167,297    155,436 
Total   9,304,314    7,683,649    9,304,314    7,683,649 
                     
Financial liabilities                    
Liabilities carried at amortized cost                    
Trade and other payables   2,608,087    2,953,069    2,608,087    2,953,069 
Borrowings   638,192    545,864    638,192    545,864 
Other liabilities   418,969    93,924    418,969    93,924 
Lease liabilities   215,742    238,149    215,742    238,149 
Total   3,880,990    3,831,006    3,880,990    3,831,006 

 

Fair value hierarchy

 

The table below analyses/disclose level wise fair value for financial instruments which are either carried at fair value or require fair value disclosure being long-term in nature. The different levels of fair value have been defined as follows:

 

● 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).
● Level 3: inputs for the asset or liability that are not based on observable market data (unobservable inputs).

       March 31, 2024 
   Carrying value   Level 1   Level 2   Level 3   Total 
Assets carried at amortized cost and for which fair value is disclosed                         
Term deposits   2,757,824    -    2,757,824    -    2,757,824 
Other financial assets   167,297    -    167,297    -    167,297 
Total assets   2,925,121    -    2,925,121    -    2,925,121 
Liabilities carried at amortized cost and for which fair value is disclosed                         
Borrowings   638,192    -    638,192    -    638,192 
Other liabilities   418,969    -    418,969    -    418,969 
Total Liabilities   1,057,161    -    1,057,161    -    1,057,161 

 

       March 31, 2025 
   Carrying value   Level 1   Level 2   Level 3   Total 
Assets carried at amortized cost and for which fair value is disclosed                         
Term deposits   1,354,170    -    1354,170    -    1,354,170 
Other financial assets   155,436    -    155,436    -    155,436 
Total assets   1,509,606    -    1,509,606    -    1,509,606 
                          
Liabilities carried at amortized cost and for which fair value is disclosed                         
Borrowings   545,864    -    545,864    -    545,864 
Lease liabilities   238,149    -    238,149    -    238,149 
Total Liabilities   784,013    -    784,013    -    784,013 

 

There are no material differences between carrying value and fair value determined.

 

There were no transfers between Level 1, Level 2 and Level 3 during the year.

 

Valuation Techniques and significant unobservable inputs

 

The following tables show the valuation techniques used in measuring fair values at March 31, 2024 and March 31, 2025 as well as the inputs used.

 

Type   Valuation technique   Inputs used  

Financial Instruments for which fair value is disclosed:

          
           
Borrowings   Discounted cash flows   Prevailing interest rate in market, future payouts.  
           
Term deposits   Discounted cash flows   Prevailing interest rate in market, cash flows.  
           
Other financial assets   Discounted cash flows   Prevailing interest rate in market, cash flows.  
           
Other liabilities   Discounted cash flows   Prevailing interest rate in market, cash flows.  

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)
v3.25.2
Rendering of services
 12 Months Ended
Mar. 31, 2025
Rendering Of Services  
Rendering of services

 

8 Rendering of services

 

8.1 Disaggregation of revenue

 

In the following tables, revenue is disaggregated by product type

 

Revenue by Product types

 

             
   March 31, 
   2023   2024   2025 
Air Ticketing   1,779,972    1,729,305    1,925,254 
Hotels and Packages   1,471,270    1,693,962    5,138,044 
Other Services   154,306    160,531    320,166 
 Rendering of services   3,405,548    3,583,798    7,383,464 

 

During the year ended March 31, 2023, in respect of incentive receivable from GDS providers, the management has determined that it is highly probable that the Group will comply the prescribed conditions and a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved and accordingly, the Group has recognized revenue amounting to INR 185,991, proportionately for actual airline tickets sold over the total number of airline tickets to be sold over the term of the agreement with corresponding recognition of contract assets, since the receipt of consideration is conditional on achieving ticket segment thresholds as specified. The Group has met remaining conditions during the year ended March 31, 2024 and received entire contract assets of INR 185,991. Further, there are no incentive receivable from GDS providers as at March 31, 2024.

 

The Group has applied the most likely amount method to estimate the variable consideration as it involves binary outcome.

 

8.2 Contract balances

 

Contract assets

 

Contract assets primarily relate to the Group’s rights to consideration from travel suppliers in exchange for services that the Company has transferred to the traveler when that right is conditional on the Company’s future performance. The contract assets are transferred to receivables when the rights to consideration become unconditional. This usually occurs when the Group issues an invoice to the travel suppliers once they confirm of achievement of targets. The Group expects to meet pending conditions in one year and realise most of the contract asset amount.

   March 31, 
   2024   2025 
Contract Assets   -    - 

 

Changes in contract assets are as follows:

  

         
   March 31, 
   2024   2025 
Balance at the beginning of the year   190,598    - 
Revenue recognized during the year#   -    - 
Billed during the year   (190,598)   - 
Balance at the end of the year   -    - 

 

#Refer to Note 8.1 above for details about contract assets for the year ended March 31, 2024.

 

Contract liabilities

 

A contract liability is the obligation to transfer services to a customer for which the Group has received consideration (or an amount of consideration is due) from the customer.

 

Contract liabilities primarily relate to the consideration received from customers for travel bookings in advance of the Group’s performance obligations which is classified as “advance from customers”, consideration allocated to customer loyalty programs and advance received from Global Distribution System (“GDS”) provider for bookings of airline tickets in future which is deferred, and which is classified as “deferred revenue”.

  

   March 31, 
   2024   2025 
Advance from customer (refer to Note 37)   622,178    1,027,588 
Deferred revenue (refer to Note 35)   3,360    2,390 
Total Contract liabilities   625,538    1,029,978 

 

As at March 31, 2024, INR 622,178 (March 31, 2023: INR 525,638) of advance consideration received from customers for travel bookings was reported within contract liabilities, INR 520,441 (March 31, 2024: INR 344,841) of which was applied to revenue and INR 9,103 (March 31, 2024: INR 9,662) was refunded to customers, the acquisition of subsidiaries also resulted in increase in contract liabilities of INR 88,046 (March 31, 2024: INR Nil) during the year ended March 31, 2025. As at March 31, 2025, the related balance was INR 1,027,588 (March 31, 2024: INR 622,178)

 

No information is disclosed about remaining performance obligations at March 31, 2025 and March 2024 that have an original expected duration of one year or less, as allowed by IFRS 15.

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)
v3.25.2
Other revenue
 12 Months Ended
Mar. 31, 2025
Other Revenue  
Other revenue

 

9 Other revenue

 

             
   March 31, 
   2023   2024   2025 
Marketing revenue   421,717    606,099    571,058 
Total   421,717    606,099    571,058 

 

Primarily comprising advertising revenue and fees for facilitating website access to travel insurance providers.
v3.25.2
Other income
 12 Months Ended
Mar. 31, 2025
Other Income  
Other income

 

10 Other income

 

             
   March 31, 
   2023   2024   2025 
Liability no longer required to be paid   140,693    100,492    106,571 
Gain on termination/rent concession of leases (Refer note 42)   1,811    -    619 
Gain on sale of property, plant and equipment (net)   3,800    705    770 
Miscellaneous income   6,216    1,165    997 
Total   152,520    102,362    108,957 

 

Liability no longer required to be paid represent trade payables in respect of which the Group does not have any further obligation.
v3.25.2
Personnel expenses
 12 Months Ended
Mar. 31, 2025
Personnel Expenses  
Personnel expenses

 

11 Personnel expenses

 

             
   March 31, 
   2023   2024   2025 
Salaries, wages and other short term employee benefits   907,523    1,020,823    1,346,103 
Contributions to defined contribution plans   47,321    54,683    63,661 
Expenses related to defined benefit plans (Refer note 34)   11,321    10,490    17,216 
Share based compensation costs (Refer note 30)   152,054    229,260    124,787 
Employee welfare expenses   30,215    32,959    44,491 
Total   1,148,434    1,348,215    1,596,258 

 
v3.25.2
Other operating expenses
 12 Months Ended
Mar. 31, 2025
Other Operating Expenses  
Other operating expenses
12 Other operating expenses

             
   March 31, 
   2023   2024   2025 
Commission   315,137    360,877    304,932 
Communication   164,637    179,656    210,303 
Legal and professional fees   301,252    346,867    480,944 
Outsourcing fees   28,764    35,924    36,054 
Payment gateway and other charges   397,590    511,948    414,969 
Bad debts written-off and allowance for credit impaired receivables and other advances   154,607    (43,697)   84,415 
Duties and taxes   14,632    2,606    51,985 
Rent (Refer note 42)   1,832    3,646    10,968 
Repairs and maintenance   44,387    48,056    59,728 
Travelling and conveyance   32,126    41,200    38,868 
Insurance   76,170    55,637    48,139 
Corporate social responsibility (CSR) expense   -    -    4,998 
Miscellaneous expenses   23,829    36,632    33,162 
Total   1,554,963    1,579,352    1,779,465 

 
v3.25.2
Depreciation and amortization
 12 Months Ended
Mar. 31, 2025
Depreciation and amortisation expense [abstract]  
Depreciation and amortization
13 Depreciation and amortization

             
   March 31, 
   2023   2024   2025 
Depreciation   14,307    20,336    40,771 
Amortization   119,196    122,920    206,682 
Depreciation on right of use assets   56,649    54,271    61,446 
Total   190,152    197,527    308,899 

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)
v3.25.2
Investment in joint venture
 12 Months Ended
Mar. 31, 2025
Investment In Joint Venture  
Investment in joint venture

 

14. Investment in joint venture

 

The Group entered into a MoU (Memorandum of Understanding) with Snow Leopard Pvt. Ltd (SLA) on September 28, 2012 to set up a joint venture company Yatra MICE and Holidays Limited (formerly known as Adventure & Nature Network Private Limited) (ANN) to do business in adventure travel, having its principal place of business in India.

 

Both Group and SLA had equal right in management of ANN requiring unanimous decision in board meetings and shareholder’s meetings.

 

Pursuant to Share Purchase Agreement executed on June 19, 2024, the Group has acquired additional 49% of the equity share capital of Yatra MICE and Holidays Limited (formerly known as Adventure & Nature Network Private Limited) (a Joint Venture Entity of the Group prior to acquisition of additional stake) from Snow Leopard Adventures Private Limited i.e. Joint Venture Partner for a cash consideration of INR 9,800.

 

Investment in joint venture is accounted for using the equity method in accordance with IAS 28 Investments in Associates and Joint Ventures in the consolidated financial statements. Summarized financial information of the joint venture, based on its IFRS financial statements as at June 18, 2024, and reconciliation with the carrying amount of the investment in the consolidated financial statements are set out below:

 

Summarized statement of financial position of ANN:

 

   As at
March 31, 2024		   As at
June 18, 2024		 
Current Assets          
Cash and cash equivalents   1,582    2,872 
Other current financial assets   1,818    338 
Non-current liabilities          
Employee benefits   (246)   (151)
           
Current liabilities          
Borrowings   (63,500)   (109,043)
Trade and other payables   (12,474)   - 
Employee benefits   (197)   (209)
Other non-financial liability   (35,163)   (2,343)
           
Equity   (108,180)   (108,536)
Group’s carrying amount of the investment (50%)   (54,090)   (54,268)
True-up of carrying value to group share loss   54,090    54,268 
Net carrying amount of investment   -    - 

 

Summarized statement of profit or loss of ANN:

 

             
   March 31,   Period ended 
   2023   2024  

June 18, 2024

 
Revenue   7,554    3,417    710 
Other operating expenses, including depreciation INR Nil (March 31, 2024: INR Nil and March 31, 2023: INR NIL)   (5,931)   (8,506)   (926)
Finance cost   (9,230)   (600)   (242)
Loss before tax   (7,607)   (5,689)   (458)
Income tax expense   -    -    - 
Loss for the year/ period   (7,607)   (5,689)   (458)
Group’s share of loss for the year/period   (3,803)   (2,845)   (229)

 

The joint venture had contingent liabilities as at June 18, 2024 INR 4,126 (March 31, 2024: INR 4,126 and March 31, 2023: INR 4,321). The joint venture had no capital commitments as at March 31, 2024.
v3.25.2
Finance income
 12 Months Ended
Mar. 31, 2025
Finance Income  
Finance income

 

15 Finance income

 

             
   March 31, 
   2023   2024   2025 
Interest income on :               
- Bank deposits recognized at amortized cost   14,354    160,784    154,160 
- Others   3,521    6,528    49,263 
Foreign exchange gain (net)   7,655    -    - 
Unwinding of other financial assets   3,414    3,402    4,401 
Total   28,944    170,714    207,824 

 
v3.25.2
Finance cost
 12 Months Ended
Mar. 31, 2025
Finance Cost  
Finance cost
16 Finance cost

 

             
   March 31, 
   2023   2024   2025 
Bank charges   78,091    25,120    26,044 
Foreign exchange loss (net)   -    20,790    3,876 
Interest on borrowings recognized at amortized cost   129,888    207,089    43,844 
Interest on lease liabilities (Refer note 42)   35,992    32,267    32,608 
Unwinding of other financial liabilities   51,878    -    - 
Others   30,550    1,732    505 
Total   326,399    286,998    106,877 

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)
v3.25.2
Income taxes
 12 Months Ended
Mar. 31, 2025
Income Taxes  
Income taxes

 

17. Income taxes

 

A.Loss/ (Profit) for the year before income taxes are as follows:

 

Schedule of loss before income taxes    

   2023   2024   2025 
   March 31, 
   2023   2024   2025 
Domestic   (353,088)   (273,102)   (347,504)
Foreign operations   111,708    (56,229)   358,156 
Total   (241,380)   (329,331)   10,652 

 

B.The major components of income tax expense for the years ended March 31, 2023, March 31, 2024 and March 31, 2025 are:

 

Summary of components of income tax expense  

   2023   2024   2025 
   March 31, 
   2023   2024   2025 
Current year   52,046    39,045    11,636 
Adjustment related to previous year   -    -    (9,008)
Current income tax expenses   52,046    39,045    2,628 
                
Origination and reversal of temporary differences   (5,258)   (1,871)   (15,477)
Deferred tax expense   (5,258)   (1,871)   (15,477)
Total income tax expenses/ (benefit) as reported in statement of profit or loss   46,788    37,174    (12,849)

 

 

C.Reconciliation of tax expense and accounting profit multiplied by tax rate of each jurisdiction in which the Group operates

 

Reconciliation of tax expense and accounting profit multiplied by tax rate 

   2023   2024   2025 
   March 31, 
   2023   2024   2025 
(Loss)/ Profit for the year   (288,168)   (366,505)   23,501 
Income tax expense/(reversal)   46,788    37,174    (12,849)
(Loss)/ Profit before income taxes*   (241,380)   (329,331)   10,652 
Expected tax expense at statutory income tax rate#   32,760    (165)   84,863 
Non-deductible expenses   19,074    17,026    1,138 
Utilization of previously unrecognized tax losses   (42,671)   (29,260)   (35,867)
Current year losses for which no deferred tax asset was recognized   36,761    83,574    (37,497)
Change in unrecognized temporary differences   209    (35,638)   (11,639)
Effect of change in tax rate   (1,908)   -    (5,726)
Others   2,563    1,637    (8,121)
Total income tax expense   46,788    37,174    (12,849)

 

*Refer to Note A above for breakup of loss before tax into domestic (Parent Company) and foreign operations (subsidiaries).

 

#The domicile of the Parent Company is Cayman Islands wherein the applicable tax rate is Nil (March 31, 2024: Nil, March 31, 2023: Nil)The Group’s two major tax jurisdictions are India and Singapore with tax rates ranging between 25.17% to 26.00% (March 31, 2024: 25.17% to 26.00% and March 31, 2023: 25.17% to 26.00%) in India and 17% (March 31, 2024: 17% and March 31, 2023: 17%) in Singapore, that have been applied to profit or loss of the respective jurisdiction for determination of expected tax expense.

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)
v3.25.2
Loss per share
 12 Months Ended
Mar. 31, 2025
Loss Per Share  
Loss per share

 

18. Loss per share

 

Basic loss per share amounts are calculated by dividing net loss for the year attributable to ordinary equity holders of the Parent Company by the weighted average number of ordinary shares outstanding during the year.

 

Diluted loss per share amounts are calculated by dividing the net loss attributable to ordinary equity holders (after adjusting for loss attributable to convertible swap shares of non controlling interest) by the weighted average number of ordinary shares outstanding during the year plus the weighted average number of ordinary shares that would be issued on conversion of all the dilutive potential ordinary shares into ordinary shares.

 

The following reflects the income and share data used in the basic loss per share computations:

 

 Summary of income and share data used in the basic and diluted loss per share computations 

   2023   2024   2025 
   March 31, 
   2023   2024   2025 
Loss attributable to ordinary shareholders - Basic   (289,243)   (350,943)   (106,925)
Weighted average number of ordinary shares outstanding used in computing basic loss per share   62,991,006    62,672,527    61,875,719 
Basic loss per share   (4.59)   (5.60)   (1.73)

 

The following reflects the income and share data used in the diluted loss per share computations:

 

   2023   2024   2025 
   March 31, 
   2023   2024   2025 
Loss attributable to ordinary shareholders-Dilutive   (289,243)   (350,943)   (106,925)
Weighted average number of ordinary shares outstanding used in computing diluted loss per share   62,991,006    62,672,527    61,875,719 
Diluted loss per share   (4.59)   (5.60)   (1.73)

 

Refer to Note 29 for the detailed movement in share capital during the financial year.

 

Loss attributable to shareholders is allocated equally for each class of share.

 

The Performance Stock Units (PSUs) are treated as contingently issuable shares because their issue is contingent upon satisfying specified conditions (i.e., agreed market price) in addition to the passage of time. The number of contingently issuable shares to be included in the diluted EPS calculation is based on the number of shares that would be issuable if the end of the period were the end of the contingency period. The contingently issuable shares are not included in the diluted EPS calculation since no shares would be issued if the market price as at March 31, 2024 and March 31, 2025 were the market price at the end of the contingency period. Hence, these units are also anti-dilutive.

 

There have been no other transactions involving ordinary shares or potential ordinary shares between the reporting date and the date of authorization of these financial statements.

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)
v3.25.2
Property, plant and equipment
 12 Months Ended
Mar. 31, 2025
Disclosure of detailed information about property, plant and equipment [abstract]  
Property, plant and equipment

 

19. Property, plant and equipment

  

   Leasehold Improvements   Computer and Peripherals   Furniture and Fixtures   Vehicles   Office Equipment   Office Building   Total 
Gross block                                   
At April 1, 2023   228    318,321    2,480    71,595    25,212    -    417,836 
Additions   -    26,598    64    22,392    393    -    49,447 
Disposals/adjustment   -    (9,975)   -    (2,046)   (2)   -    (12,023)
Charge for the year   -    5,591    121    13,868    756    -    20,336 
Effects of movements in foreign exchange rates   -    -    -    -    -    -    - 
At March 31, 2024   228    334,944    2,544    91,941    25,603    -    455,260 
On account of business combination   -    3,197    909    47    846    41,036    46,035 
Additions   955    39,548    93    23,838    1,944    -    66,378 
Disposals/adjustment   -    (15,562)   -    (21,817)   (758)   -    (38,137)
Effects of movements in foreign exchange rates   -    -    -    -    -    -    - 
At March 31, 2025   1,183    362,127    3,546    94,009    27,635    41,036    529,536 
                                    
Depreciation                                   
At April 1, 2023   227    309,248    2,060    36,512    23,947    -    371,994 
Charge for the year   -    5,591    121    13,868    756    -    20,336 
Disposals/adjustment   -    (9,975)   -    (930)   -    -    (10,905)
Effects of movements in foreign exchange rates   -    -    -    -    -    -    - 
At March 31, 2024   227    304,864    2,181    49,450    24,703    -    381,425 
Charge for the year   53    21,096    205    18,124    926    367    40,771 
Disposals/adjustment   -    (15,527)   -    (13,188)   (769)   -    (29,484)
Effects of movements in foreign exchange rates   -    -    -    -    -    -    - 
At March 31, 2025   280    310,433    2,386    54,386    24,860    367    392,712 
                                    
Net block                                   
At March 31, 2024   1    30,080    363    42,491    900    -    73,835 
At March 31, 2025   903    51,694    1,160    39,623    2,775    40,669    136,824 

 

The carrying value of vehicles held under vehicle loan have a gross book value of INR 65,291 (March 31, 2024: INR 50,828), depreciation charge for the year of INR 14,755 (March 31, 2024: INR 12,323), accumulated depreciation of INR 26,460 (March 31, 2024: INR 16,806), net book value of INR 38,831 (March 31, 2024: INR 34,022). Vehicles are pledged as security against the related vehicle loan.

 

During the year ended March 31, 2025, the Group has taken overdraft facility which is fully secured against pari passu charges on all property, plant and equipment of “Yatra Online Limited”, “Globe All India Services Limited” and “Yatra for Business Private Limited”.

 

Refer note No. 38 for disclosure on contractual commitments for the acquisition of property, plant and equipment.

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)
v3.25.2
Intangible assets and goodwill
 12 Months Ended
Mar. 31, 2025
Intangible Assets And Goodwill  
Intangible assets and goodwill

 

20. Intangible assets and goodwill

  

   Computer software and Websites   Intellectual property rights   Agent / Supplier/ relationship   Customer Relationship   Non compete agreement   Trademarks   Goodwill   Intangible under development       Total 
Gross block                                                  
At April 1, 2023   2,575,731    59,209    222,169    140,336    22,171    271,329    1,015,099    43,272         4,349,316 
Additions   219,301    -    -    -    -    -    -    254,465         473,766 
Disposals/adjustment   -    -    -    -    -    -    -    (216,391)   *     (216,391)
Effects of movements in foreign exchange rates   -    -    -    -    -    -    -    -         - 
At March 31, 2024   2,795,032    59,209    222,169    140,336    22,171    271,329    1,015,099    81,346         4,606,691 
Additions   253,191    -    -    -    -    -    -    264,384         517,575 
Disposals/adjustment   -    -    -    -    -    -    -    (248,888)   *     (248,888)
On account of business combination   2,529    -    138,030    189,586    -    315,870    723,529    -         1,369,544 
Effects of movements in foreign exchange rates   -    -    -    -    -    -    -    -         - 
At March 31, 2025   3,050,752    59,209    360,199    329,922    22,171    587,199    1,738,628    96,842         6,244,922 
                   -                               
Amortization and Impairment                                                  
At April 1, 2023   2,395,502    59,209    222,169    113,399    21,821    271,329    486,908    -         3,570,337 
Charge for the year   113,591    -    -    8,979    350    -    -    -         122,920 
Disposals   -    -    -    -    -    -    -    -         - 
Impairment of goodwill   -    -    -    -    -    -    -    -         - 
Effects of movements in foreign exchange rates   -    -    -    -    -    -    -    -         - 
At March 31, 2024   2,509,093    59,209    222,169    122,378    22,171    271,329    486,908    -         3,693,257 
Charge for the year   173,951    -    5,093    15,981    -    11,657    -    -         206,682 
Disposals   -    -    -    -    -    -    -    -         - 
Impairment of goodwill   -    -    -    -    -    -    -    -         - 
Effects of movements in foreign exchange rates   -    -    -    -    -    -    -    -         - 
At March 31, 2025   2,683,044    59,209    227,262    138,359    22,171    282,986    486,908    -         3,899,939 
                                                   
Net block                                                  
At March 31, 2024   285,939    -    -    17,958    -    -    528,191    81,346         913,434 
At March 31, 2025   367,708    -    132,937    191,563    -    304,213    1,251,720    96,842         2,344,983 

 

*Intangible assets capitalized during the year.

 

Impairment reviews

 

Goodwill acquired through business combinations has indefinite life and is allocated to the CGU or Group of CGUs, which is expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the acquiree are assigned to those units or groups of units. For the purpose of impairment testing, goodwill is allocated to a CGU or Group of CGUs representing the lowest level within the Group at which goodwill is monitored for internal management purposes and which is not higher than the Group’s operating segment. Carrying amount of goodwill has been allocated to the respective acquired subsidiaries level as follows:

  

   2024   2025 
   March 31, 
   2024   2025 
TSI Yatra Private Limited   103,670    103,670 
Yatra TG Stays Private Limited & Yatra Hotel Solutions Private Limited   219,163    219,163 
Yatra for Business Private Limited   205,358    205,358 
Globe All India Services Limited (refer to Note 44)   -    723,529 
Total   528,191    1,251,720 

 

Below table summarizes the valuation method used for determining recoverable amount of goodwill:

 

    March 31,
    2024   2025
TSI Yatra Private Limited   FVLCOD   Value in use
Yatra TG Stays Private Limited & Yatra Hotel Solutions Private Limited   Value in use   Value in use
Yatra for Business Private Limited   FVLCOD   Value in use

 

Considering the market dynamics, the Group has changed the method for testing goodwill impairment as at March 31, 2025 from “FVLCOD” used in the year ended March 31, 2024 to “value in use” for the following companies, since it represents a more accurate and reliable method to estimate value in use as at the said date.

 

1. TSI Yatra Private Limited

2. Yatra for Business Private Limited

 

The new method complies with relevant accounting standards and regulations and is applied consistently across all reporting units. The change in method has not resulted in a different outcome that would have been obtained using the previous method.

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)

 

Yatra TG Stays Private Limited and Yatra Hotel Solutions Private Limited:

 

The recoverable amount of Yatra TG Stays Private Limited and Yatra Hotel Solutions Private Limited for the years ended March 31, 2025 and March 31, 2024, is based on its value in use and was determined by discounting the future cash flows to be generated from the continuing use of the CGU. These calculations use cash flow projections over a period of five years, based on financial budgets approved by management, with extrapolation for the remaining period, and an average of the range of assumptions as mentioned below:

  

   As at   As at 
   March 31, 2024   March 31, 2025 
Pre -Tax Discount rate   24.05%   21.19%
Terminal Value growth rate   4.00%   5.00%
EBITDA margin over next 5 years (March 31, 2024 : 5 years)   22.54 % - 23.63%   19.0 % - 21.3 %

 

Management has determined the values assigned to each of the above key assumptions as follows:

 

Discount Rate: The above discount rate represent the current market assessment of the risks specific to each CGU, taking into consideration the time value of money and individual risks of the underlying assets that have not been incorporated in the cash flow estimates. The discount rate calculation is based on the specific circumstances of the Company and its operating segments and is derived from its weighted average cost of capital (WACC).

 

Terminal Value growth rate: This is the weighted average growth rate used to extrapolate cash flows beyond the budget period. The rates are consistent with forecasts included in industry reports.

 

EBITDA margin: EBITDA margin was based on expectations of future outcomes taking into account past experience, adjusted for anticipated revenue growth. Revenue growth was projected taking into account the average growth levels experienced in past, industry report and the estimated adjusted margin growth for future.

 

The estimation of value in use reflects assumptions that are subject to various risks and uncertainties, including key assumptions regarding EBITDA margin, terminal value growth rate and discount rate. It requires significant judgments and estimates, and actual results could be materially different than the judgments and estimates used to estimate value in use.

 

Sensitivity change in assumptions

 

The calculation of value in use for Yatra TG Stays Private Limited and Yatra Hotel Solutions Private Limited” is most sensitive to EBITDA margin, discount rate and long-term growth rate assumptions.

 

For the year ended March 31, 2025 and March 31, 2024, an analysis of the calculation’s sensitivity to a change in the key parameters (EBITDA margin, discount rate and long-term growth rate) based on reasonably probable assumptions in Yatra TG Stays Private Limited and Yatra Hotel Solutions Private Limited”, did not identify any probable scenarios where the CGUs recoverable amount would fall below their carrying amount.

 

TSI Yatra Private Limited:

 

The recoverable amount of TSI Yatra Private Limited for the years ended March 31, 2025 are based on its value in use and determined by discounting the future cash flows to be generated from the continuing use of the CGU. These calculations use cash flow projections over a period of five years, based on financial budgets approved by management, with extrapolation for the remaining period, and an average of the range of assumptions as mentioned below:

  

   As at 
   March 31, 2025 
Pre -Tax Discount rate   29.79%
Terminal Value growth rate   5.00%
EBITDA margin over next 5 years   20.4 % - 35.5 %

 

During the March 31, 2024, the recoverable value of these companies was computed using fair value less cost of disposal (“FVLCOD”) method categorized as Level 3 calculations due to un-observable inputs used in the valuations.

 

The FVLCOD calculations were determined by considering median quartile of EBITDA multiple to enterprise value of comparable companies (‘EBITDA market multiple’) and thereafter applying discount to reflect the risk relating to business of the above-mentioned CGUs. The resultant/ discounted/ adjusted EBITDA market multiple was applied to the EBITDA for the year ended March 31, 2024 of above mentioned CGUs to determine the FVLCOD.

 

The calculation of FVLCOD is most sensitive to the following assumptions:

  

   As at 
   March 31, 2024 
EBITDA Market Multiple   14.2 - 16.7 
Discount applied   10 % - 20 %

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)

 

Sensitivity change in assumption

 

The calculation of value in use for TSI Yatra Private Limited is most sensitive to EBITDA margin, discount rate and long-term growth rate assumptions.

 

For the year ended March 31, 2025, an analysis of the calculation’s sensitivity to a change in the key parameters (EBITDA margin, discount rate and long-term growth rate) based on reasonably probable assumptions in TSI Yatra Private Limited, did not identify any probable scenarios where the CGUs recoverable amount would fall below their carrying amount.

 

For the year ended March 31, 2024, an analysis of the calculation’s sensitivity to a change in the key parameter (EBITDA margin multiple) based on reasonably probable assumptions, did not identify any probable scenarios where the CGUs recoverable amount would fall below their carrying amount.

 

Yatra for Business Private Limited:

 

The recoverable amount of Yatra for Business Private Limited for the years ended March 31, 2025 are based on its value in use and determined by discounting the future cash flows to be generated from the continuing use of the CGU. These calculations use cash flow projections over a period of five years, based on financial budgets approved by management, with extrapolation for the remaining period, and an average of the range of assumptions as mentioned below:

 Summary of key assumptions used in calculations of value in use for CGUs

   As at 
   March 31, 2025 
Pre -Tax Discount rate   28.59%
Terminal Value growth rate   5.00%
EBITDA margin over next 5 years   10.1 % - 33.6 %

 

During the March 31, 2024, the recoverable value of these companies was computed using fair value less cost of disposal (“FVLCOD”) method categorized as Level 3 calculations due to un-observable inputs used in the valuations.

 

The FVLCOD calculations were determined by considering median quartile of EBITDA multiple to enterprise value of comparable companies (‘EBITDA market multiple’) and thereafter applying discount to reflect the risk relating to business of the above-mentioned CGUs. The resultant/ discounted/ adjusted EBITDA market multiple was applied to the EBITDA for the year ended March 31, 2024 of above mentioned CGUs to determine the FVLCOD.

 

The calculation of FVLCOD is most sensitive to the following assumptions:

 

  

   As at 
   March 31, 2024 
EBITDA Market Multiple   14.2- 16.7 
Discount applied   10 % - 20 %

 

Sensitivity change in assumption

 

The calculation of value in use for Yatra for Business Private Limited is most sensitive to EBITDA margin, discount rate and long-term growth rate assumptions.

 

For the year ended March 31, 2025, an analysis of the calculation’s sensitivity to a change in the key parameters (EBITDA margin, discount rate and long-term growth rate) based on reasonably probable assumptions in Yatra for Business Private Limited, did not identify any probable scenarios where the CGUs recoverable amount would fall below their carrying amount.

 

For the year ended March 31, 2024, an analysis of the calculation’s sensitivity to a change in the key parameter (EBITDA margin multiple) based on reasonably probable assumptions, did not identify any probable scenarios where the CGUs recoverable amount would fall below their carrying amount.

 

The estimation of FVLCOD reflects assumptions that are subject to various risks and uncertainties, including key assumptions regarding EBITDA Market Multiple, and discount rate. It requires significant judgments and estimates, and actual results could be materially different than the judgments and estimates used to estimate FVLCOD.

 

Globe All India Services Limited:

 

The Group has acquired the subsidiary during the current year. On account of business combination goodwill amounting to INR 723,529 has been recognized during the year. As per IAS 36 Impairment of assets, indicators for impairment needs to be assessed at least annually.

 

The group has assessed the internal and external indicators of impairment and concluded that there is no impairment during the current year.

 

Accordingly, based on above, the Group has concluded that there is no impairment for the current year.

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)
v3.25.2
Prepayments and other assets
 12 Months Ended
Mar. 31, 2025
Prepayments And Other Assets  
Prepayments and other assets

 

21 Prepayments and other assets

Current  2024   2025 
   March 31, 
Current  2024   2025 
Advance to vendors (net of allowance)   1,298,798    1,827,433 
Advance to joint venture (net of allowance) (Refer note 41)   6,319    - 
Balance with statutory authorities   98,823    241,796 
Prepaid expenses   63,399    70,426 
Due from employees   8,328    23,801 
Others   12,194    - 
Total   1,487,861    2,163,456 
           
Non-current          
Prepaid expenses   755    610 
Total   755    610 

 

Advances to vendor primarily consist of amounts paid to airline and hotels for future bookings.

 

The movement in the allowance for doubtful advances:

 

   March 31, 
   2024   2025 
Balance at the beginning of the year   59,612    69,637 
Provisions accrued during the year   10,025    5,097 
Amount written off during the year   -    (6,970)
Balance at the end of the year   69,637    67,764 

 
v3.25.2
Other financial assets, Non-current
 12 Months Ended
Mar. 31, 2025
Other Financial Assets Non-current  
Other financial assets, Non-current
22 Other financial assets, Non-current

  Schedule of other financial assets, Non-current

   March 31, 
   2024   2025 
Security deposits   24,039    90,714 
Total   24,039    90,714 

 

Security deposit represents fair value at initial recognition of amount paid to landlord for the leased premises. Subsequently, such amounts are measured at amortized cost. As on March 31, 2025, remaining tenure for security deposits ranges from 6 months to 9 years (March 31, 2024: 1 to 4.5 years).

 

Security deposit includes an amount of INR 40,319 (March 31, 2024: Nil) maintained with ICICI Bank as a security deposit in relation to the ongoing legal proceedings with Ezeego One Travel & Tours Ltd.
v3.25.2
Term deposits
 12 Months Ended
Mar. 31, 2025
Term Deposits  
Term deposits

 

23. Term deposits

 Schedule of term deposits

   2024   2025 
   March 31, 
   2024   2025 
Fixed deposits with banks   2,757,824    1,354,170 
Total   2,757,824    1,354,170 
Non-current   137,169    44,770 
Current   2,620,655    1,309,400 
Total   2,757,824    1,354,170 

 

Term deposits as on March 31, 2025, include INR 686,851 (March 31, 2024: INR 420,337) pledged with banks against bank guarantees, sales bill discounting, vehicle loans and credit card facility (Refer note 32). Tenure for term deposits range from 6 month to 5 years.
v3.25.2
Other non financial assets
 12 Months Ended
Mar. 31, 2025
Other Non Financial Assets  
Other non financial assets

 

24. Other non financial assets

 Schedule of other non financial assets

   2024   2025 
   March 31, 
   2024   2025 
Fair value adjustment - financial assets   1,481    976 
Restricted asset   206,074    167,907 
Total   207,555    168,883 
Non-current   207,555    168,883 
Total   207,555    168,883 

 

Restricted asset include INR 167,907 (March 31, 2024: INR 204,993) in respect of mandatory pre-deposit required for service tax and income tax appeal proceedings in India, and INR Nil (March 31, 2024: INR 1,081) in respect of refund claim application with the service tax authorities. The service tax & income tax amount has been paid under protest and the Group strongly believes that it is not probable the demand will materialize.

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)
v3.25.2
Deferred Tax
 12 Months Ended
Mar. 31, 2025
Deferred Tax  
Deferred Tax

 

25. Deferred Tax

 

Unrecognized Deferred Tax Assets

 

Deferred tax assets have not been recognized in respect of the following items :

 

   As at March 31, 
Particulars  2024   2025 
Deductible temporary differences   282,544    276,775 
Tax loss carry forward and unabsorbed depreciation   2,271,015    2,168,730 
Total   2,553,559    2,445,505 

 

In the Group, there are few subsidiaries for which no deferred tax assets have been recognized on deductible temporary differences of INR 1,070,405 (March 31, 2024: INR 1,091,546) and tax losses of INR 5,588,021 (March 31, 2024: INR 6,220,212) and unabsorbed depreciation of INR 2,771,805 (March 31, 2024: 2,572,004), as it is not probable that taxable profit will be available in near future against which these can be utilized. Tax losses are available as an offset against future taxable profit expiring at various dates through 2032 and unabsorbed depreciation is available indefinitely for offsetting against future taxable profits.

 

Recognized Deferred Tax Assets and Liabilities

 Schedule of recognized deferred tax assets

   For the Year Ended March 31, 
   2024   2025 
Deferred tax assets are attributable to the following -          
Property, plant and equipment, intangible assets, and ROU assets   2,712    664 
Trade and other receivables   4,497    10,107 
Mat credit   -    266 
Employee benefits   1,888    9,132 
Unutilized business losses   -    - 
Provision for expenses   93    63 
Right-of-use assets   (161)   (11,293)
Lease liabilities   210    11,597 
Deferred tax asset   9,239    20,536 
Remeasurement loss in defined benefit plan   1,693    1,983 
Total deferred tax asset (A)   10,932    22,519 
Deferred tax liabilities are attributable to the following -          
Property, plant and equipment, intangible assets, and ROU assets   (4,669)   (142,468)
Total deferred tax liability (B)   (4,669)   (142,468)
           
Net deferred tax asset (A-B)   6,263    (119,949)

 

 

                        
Particulars 

Balance as on April 01, 2024

   Deferred tax asset acquired on business combination*   On account of business combination  

Recognized in profit or loss

  

Recognized in other comprehensive income

  

Balance as on March, 31 2025

Property, plant and equipment, and intangible assets   (1,957)   -    (146,306)   6,459    -   (141,804)
Right-of-use assets   (161)   -    -    (11,132)   -   (11,293)
Lease liabilities   210    -    -    11,387    -   11,597
Trade and other receivables   4,497    -    -    5,610    -   10,107
Employee benefit   1,888    4,327    -    2,917    -   9,132
Provision for expenses   93    -    -    (30)   -   63
Remeasurement loss on defined benefit plan   1,693    -    -    -    290   1,983
Mat credit   -    -    -    266        266
Deferred tax assets   6,263    4,327    (146,306)   15,477    290   (119,949)

 

*Deferred tax asset acquired on account of acquisition of Globe All India Services Limited on September 10, 2024

 

  Deferred tax assets, Beginning balance   Recognised in profit or loss   Recognised in other comprehensive income   Deferred tax assets, Ending balance 
Particulars 

Balance as on

April 01, 2023

  

Recognized in

profit or loss

  

Recognized in other comprehensive

income

  

Balance as on

March 31, 2024

 
Property, plant and equipment, and intangible assets   (4,009)   2,052    -    (1,957)
Right-of-use assets   (279)   118         (161)
Lease liabilities   385    (175)        210 
Trade and other receivables   4,047    450    -    4,497 
Employee benefit   2,118    (230)   -    1,888 
Provision for expenses   142    (49)   -    93 
Remeasurement loss on defined benefit plan   1,238    -    455    1,693 
Loss available for offsetting against future taxable income   294    (294)   -    - 
Deferred tax assets   3,936    1,872    455    6,263 

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)
v3.25.2
Trade and other receivables
 12 Months Ended
Mar. 31, 2025
Trade And Other Receivables  
Trade and other receivables

 

26 Trade and other receivables

 Schedule of trade and other receivables

         
   March 31, 
   2024   2025 
Trade receivables (net of allowance)   4,508,552    5,523,943 
Refund and other receivable (net of allowance)   128,691    44,298 
Total   4,637,243    5,568,241 

 

A trade receivable is a right to consideration that is unconditional upon passage of time. Trade receivables are non-interest bearing and are generally on terms of 30 to 90 days.

 

The Group, pursuant to an arrangement with bank, discounted certain of its trade receivables on a recourse basis. The receivables discounted were mutually agreed upon with the bank after considering the creditworthiness and contractual terms with the customer. The duration of discounting are generally on terms of up to 90 days (March 31, 2024: 45-90 days). The Group collects the contractual cash flows from its trade receivable and passes them on to its bank. In case of default by customers, the Group will be solely liable to repay to bank. The Group has not transferred substantially all the risks and rewards of ownership of such receivables discounted to the bank, and accordingly, the same were not derecognized in the statements of financial position. The amount payable to the bank is disclosed as a financial liability. As on March 31, 2025, the amount of trade receivables discounted to banks amounts to INR 508,722 (March 31, 2024: INR 451,001) and financial liability pursuant to factoring arrangement amounts to INR 457,850 (March 31, 2024: INR 405,901) (Refer to note 32 for details).

 

The trade receivables primarily consist of amounts receivable from customers for cost of airline, hotel and package bookings and service charges.

 

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 directors is a partner, a director or a member.

 

The Group’s exposure to credit and currency risk is disclosed in Note 39.
v3.25.2
Other financial assets, current
 12 Months Ended
Mar. 31, 2025
Other Financial Assets Current  
Other financial assets, current

 

27 Other financial assets, current

 Schedule of other financial assets, current

   March 31, 
   2024   2025 
Interest accrued on term deposits   29,583    11,930 
Security deposits (net of allowance)   55,700    51,938 
Others (includes Government Grant)   49,647    854 
Total   134,930    64,722 

 

Security deposit represents fair value of amount paid to landlord for the leased premises. As on March 31, 2025, remaining tenure for security deposits ranges from 6 months to 9 years (March 31, 2024: 1 to 4.5 years)

 

In the statement of cash flows, interest reinvested in term deposits INR 16,920 (March 31, 2024: INR 82,379) has been adjusted against interest received under investing activities i.e., treated as non-cash transactions.

 

The movement in the allowance for doubtful other financial assets:

 

   2024   2025 
   March 31, 
   2024   2025 
Balance at the beginning of the year   78,725    78,725 
Amount written off during the year   -    (3,577)
Adjusted on account of business combination   -    (73,700)
Balance at the end of the year   78,725    1,448 

 

The movement in the Government Grant during the year was as follows:

 

   2024   2025 
   March 31, 
   2024   2025 
At 01 April   54,594    48,813 
Recorded/ (trued- up) in statement of profit or loss   (5,781)   - 
Sale of SEIS   -    47,924 
Loss on sale of SEIS   -    (889)
At 31 March   48,813    - 

 

There are no unfulfilled conditions or contingencies attached to these grants.

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)
v3.25.2
Cash and cash equivalents
 12 Months Ended
Mar. 31, 2025
Cash And Cash Equivalents  
Cash and cash equivalents

 

28 Cash and cash equivalents

  Schedule of cash and cash equivalents

   2024   2025 
   March 31, 
   2024   2025 
Cash on hand   72    656 
Credit card collection in hand   797,380    160,814 
Balances with bank   944,498    444,332 
Total   1,741,950    605,802 

 

Credit card collection in hand represents the amount of collection from credit cards swiped by the customers which is outstanding as at the year end and credited to Group’s bank accounts subsequent to the year end.

 

At March 31, 2025, the Group had available INR 1,734,016 (March 31, 2024: INR 1,294,099) of undrawn borrowing facilities.
v3.25.2
Equity share capital and share premium
 12 Months Ended
Mar. 31, 2025
Disclosure of classes of share capital [abstract]  
Equity share capital and share premium

 

29. Equity share capital and share premium

 

Schedule of authorized shares 

   March 31, 
Authorized shares  2024   2025 
   Numbers of Shares   Numbers of Shares 
Ordinary shares of INR 0.008 ($ 0.0001) each   500,000,000    500,000,000 
Ordinary share Class A of INR 0.008 ($ 0.0001) each   10,000,000    10,000,000 
Ordinary share Class F of INR 0.008 ($ 0.0001) each   3,159,375    3,159,375 
Preference shares of INR 0.008 ($ .0001) each   10,000,000    10,000,000 
    523,159,375    523,159,375 

 

There is no change in the authorized share capital of the Parent Company during the financial ended March 31, 2024 and March 31, 2025.

 

A reconciliation of the shares outstanding at the beginning and end of the period is presented below:

 

Ordinary shares

 

 Schedule of changes in share capital and share premium 

   Numbers of Shares   Share Capital   Share Premium 
             
Balance as at April 1, 2023   63,647,927    850    20,388,799 
Exercise of option (Restricted stock units and share-based payments) (refer to Note 30)   906,052    7    122,679 
Own shares repurchased   (1,440,424)   -    - 
Balance as at March 31, 2024   63,113,555    857    20,511,478 
Exercise of option (Restricted stock units and share-based payments) (refer to Note 30)   694,096    6    83,590 
Own shares repurchased   (1,733,009)   -    - 
Balance as at March 31, 2025   62,074,642    863    20,595,068 

 

The Company has following classes of shares outstanding as follows:

 

  

       Number of shares as at 
Class of shares  Nominal value   March 31, 2024   March 31, 2025 
Ordinary shares*  $0.0001    61,258,684    60,219,771 
Class A shares #  $0.0001    -    - 
Class F shares*  $0.0001    1,854,871    1,854,871 

 

*For movement in class F shares to Ordinary shares, refer to note 6.

 

#Norwest Venture Partners X, LP and Norwest Venture Partners IX, LP, holding 1,196,084 and 1,196,084 Class A shares, respectively, have converted their Class A shares into 1,196,084 and 1,196,084 ordinary shares, respectively i.e. in the exchange ratio of 1:1, on February 15, 2024.

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)

 

Terms/ rights attached to Ordinary Shares

 

The Parent Company has two class of ordinary shares outstanding as on March 31, 2024 and March 31, 2025, which entitles the holders with the following rights:

 

Ordinary shares

 

A holder of an ordinary share has one vote for each share of ordinary share held and entitled to receive dividends when declared by the board of directors.

 

Class A shares

 

Class A shares have identical rights to the Parent company ordinary shares, except the right to receive notice of, attend or vote as a member at any general meeting of shareholders, but may vote at a separate Class A shareholders’ meeting convened in accordance with the Company Articles of Association.

 

Class F shares

 

Class F shares shall have the right to receive notice of, attend at and vote as a member at any general meeting of shareholders, but shall have no other rights.

 

Each of Class F shares issued and outstanding are convertible into 1.00001 Ordinary shares upon the exchange of parallel USA Class F share (Refer to Note 6)

 

In the event of liquidation of the Parent Company, the holders of Ordinary and Class F ordinary shares (Ordinary and Class F ordinary shares as on March 31, 2024) are entitled to receive remaining assets of the Parent Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

 

Shares reserved for issuance against equity instruments

 

The Parent Company reserved 1,844 shares (March 31, 2024 - 1,844, March 31, 2023- 1,844) for issuance at exercise price of INR 463.03 ($ 5.42). These shares are considered as equity instrument and are recorded at fair value at the date of transaction under IAS 32, refer to Note 30.1.

 

Shares reserved for issue under options

 

For details of shares reserved for issue under the Employee Stock Option Plan (ESOP) of the Company, refer to Note 30.2.

 

Schedule of changes in treasury shares 

Treasury shares        
   Numbers of Shares   Amount 
Balance as at April 1, 2023   999    11,219 
Own shares repurchased   1,440,424    210,933 
Balance as at March 31, 2024   1,441,423    222,152 
           
Balance as at April 1, 2024   1,441,423    222,152 
Own shares repurchased   1,733,009    196,403 
Balance as at March 31, 2025   3,174,432    418,555 

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)
v3.25.2
Other capital reserve
 12 Months Ended
Mar. 31, 2025
Disclosure of reserves within equity [abstract]  
Other capital reserve

 

30. Other capital reserve

 

Other capital reserves

  

  

Share-based

payments

  

Equity Instruments

(Refer note 30.1)

   Reserve on expiry of warrant #   Total 
March 31, 2023   257,795    341    23,258    281,394 
Share-based payments expense during the year   229,260    -    -    229,260 
Exercised during the year   (122,660)   -    -    (122,660)
Forfeited during the year   (9,301)   -    -    (9,301)
Expired during the year   -    -    -    - 
March 31, 2024   355,094    341    23,258    378,693 
Share-based payments expense during the year   123,811    -    -    123,811 
Exercised during the year   (90,272)   -    -    (90,272)
Forfeited during the year   -    -    -    - 
Expired during the year   -    -    -    - 
March 31, 2025   388,633    341    23,258    412,232 

 

# Warrants—Innoven (considered equity)

 

During the financial year ending March 31, 2018, the Company had further allotted warrants against the loan facility, the fair values of the warrants was taken using a Black-Scholes option-pricing model as on the date of the allotment. These warrants are classified to be equity instruments and accounted for on the same basis. On September 12, 2022, these outstanding warrants were lapsed unexercised. Consequently, the amount originally credited to equity remains within equity.

 

30.1 Equity instruments

 

The Parent Company reserved 1,844 shares for the issuance at exercise price of INR 463.03 ($ 5.42). These shares are considered as equity instrument and are recorded at fair value at the date of transaction under IAS 32

 

30.2 Share based payments

 

2006 Share Plan and 2006 India Share Plan

 

The Company has reserved an aggregate of 1,316,765 ordinary shares as at March 31, 2025 (1,316,765 ordinary shares as at March 31, 2024) for issuance to officers, directors and employees of the Company pursuant to its 2006 Share Plan and 2006 India Share Plan, both of which have been adopted by the board of directors (and the board of directors of Yatra India, in relation to the 2006 India Share Plan) and approved by the Company shareholders (and the shareholders of Yatra India, in relation to the 2006 India Share Plan) (collectively, the “Plan”). Out of such reserved shares, options to purchase Nil ordinary shares have been granted and are outstanding as at March 31, 2025 (March 31, 2024: 191,411 ordinary shares).

 

The share-based payment awards have the following vesting period under the same plan:-

 

1) 60 months, the first tranche vests after two years, while the remaining awards vest in equal installments on quarterly basis over the remainder of the vesting period.

2) 12 equal installments over 12 months.

3) 50% vest over 16 equal quarterly installments starting Dec 1, 2013; 25% vest if the “2015 Milestones” are met and then in eight quarters starting July 1, 2015; 25% vest if the “2016 Milestones” are met and then in four quarters starting July 1, 2016.

 

The Company has used the volatility of stocks of comparative companies with estimated life of options similar to its grants. The risk-free interest rate that is used in the option valuation model is based on U.S. treasury zero coupon bonds with a remaining term similar to the expected term of the options. The Company does not anticipate paying any cash dividends in the foreseeable future and therefore has used an expected dividend yield of zero in the option valuation model. The Company is required to estimate forfeitures at the time of grant and revise those estimates in subsequent periods if actual forfeitures differ from those estimates. All stock-based payment awards are amortized on a graded-vesting basis over the requisite service periods of the awards, which are generally the vesting periods.

 

The following table illustrates the number and weighted average exercise prices (WAEP) of, and movements in, share options during the year:

  

   March 31, 
   2024   2025 
   No. of shares   Weighted average EP per share*   No. of shares   Weighted average EP per share* 
Number of options outstanding at the beginning of the year   203,855    356.65    191,411    356.65 
Granted during the year   -    -    -    - 
Forfeited during the year   -    -    -    - 
Expired during the year   12,444    361.70    191,411    356.65 
Exercised during the year   -    -    -    - 
Number of options outstanding at the end of the year   191,411    356.65    -    - 
                     
Vested/exercisable   191,411    356.65    -    - 

 

*The weighted average exercise price per share is fixed in USD. The amount disclosed in INR are determined by multiplying exercise price per share in USD by exchange rate of INR 85.43 per USD as at March 31, 2025 (March 31, 2024 INR 83.34 per USD).

 

The weighted average remaining contractual life for the share options outstanding as at March 31, 2025 was Nil years (March 31, 2024: 0.33 years).

 

The range of exercise prices for options outstanding at the end of the year was USD Nil (March 31, 2024 : USD 4.34) and INR Nil (March 31, 2024: INR 361.70) determined based on the exchange rate as at the end of the respective reporting period.

 

During the year ended March 31, 2025, share based payment expense for these options was recognized under personnel expenses (refer to Note 11) amounted to INR Nil (March 31, 2024: INR Nil and March 31, 2023: INR Nil).

 

The Company did not grant any options during the fiscal year ended March 31, 2024 and March 31, 2025.

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)

 

2016 Stock Option and Incentive Plan (the “2016 Plan”)

 

On December 13, 2016, the Company’s board of directors approved the 2016 Plan and on December 15, 2016, the Company shareholders approved the 2016 Plan. The 2016 Plan enables the Company to make equity based awards to its officers, employees, non-employee directors and consultants. The 2016 Plan provides for the grant of incentive share options, non-qualified share options, share appreciation rights, restricted share awards, restricted share units, unrestricted share awards, cash-based awards, performance share awards and dividend equivalent rights. The Company has reserved for issuance 8,598,562 authorized but unissued ordinary shares under the 2016 Plan as on March 31, 2025, which shares are subject to an annual increase on January 1 of each year equal to three percent of the number of shares issued and outstanding on the immediately preceding December 31 or such lesser number of shares as determined by the administrator of the 2016 Plan. The 2016 Plan limits the number or value of shares that may be granted to any participant in any one calendar year, among other limits.

 

During the year ended March 31, 2025, the Company pursuant to the “2016 Plan”, options to purchase Nil (March 31, 2024: Nil) ordinary shares have been granted and 150,463 (March 31, 2024: 189,081) are outstanding as at March 31, 2025.

 

The share-based payment awards have the following vesting period under the same plan:-

 

1) 21,769 share options will vest over a period of one year and four months in equal monthly installments commencing from first vesting on September 1, 2018 equivalent to 1/16th of the total number of stock options, with the last such vesting on June 1, 2022

2) 466,100 share options will vest over a period of four years in equal quarterly installments, with first such vesting on January 1, 2021 equivalent to 1/16th of the total number of stock options and with the last such vesting on October 01, 2024

 

The following table illustrates the number and weighted average exercise prices (WAEP) of, and movements in, share options during the year:

  

   March 31, 2024   March 31, 2025 
   No. of shares   Weighted average EP per share*   No. of shares   Weighted average EP per share* 
Number of options outstanding at the beginning of the year   271,370    259.07    189,081    270.91 
Granted during the year   -    -    -    - 
Forfeited during the year   62,331    150.48    34,605    810.14 
Expired during the year   19,958    741.60    4,013    93.95 
Number of options outstanding at the end of the year   189,081    270.91    150,463    170.86 
                     
Vested/exercisable   156,759    342.30    150,463    170.86 

 

*The weighted average exercise price per share is fixed in USD. The amount disclosed in INR are determined by multiplying exercise price per share in USD by exchange rate of INR 85.43 per USD as at March 31, 2025 (March 31, 2024 INR 83.34 per USD).

 

The weighted average remaining contractual life for the share options outstanding as at March 31, 2025 was 3.76 years (March 31, 2024: 4.30).

 

The range of exercise prices for options outstanding at the end of the year was USD 2.00 to USD 10.00 (March 31, 2024: USD 2.00 to USD 10.00) and INR 170.86 to INR 854.30 (March 31, 2024: INR 166.68 to INR 833.40) determined based on the exchange rate as at the end of the respective reporting period.

 

The expected life of share options has been taken as mid point between first and last available exercise date.

 

The expected volatility reflects the assumption based on historical volatility on the share prices of similar entities over a period.

 

The expected life of the share options is based on historical data and current expectations and is not necessarily indicative of exercise patterns that may occur. The expected volatility reflects the assumption that the historical volatility over a period similar to the life of the options is indicative of future trends, which may not necessarily be the actual outcome.

 

Restricted Stock Unit Plan (RSU) and Performance Stock Units (PSU) “2016 Plan”

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)

 

The stock units have the following vesting period:-

 

1. 687,857 RSUs granted, vesting of these RSUs would commence from July 1, 2020 with first vesting equivalent to equal monthly installments over a period of four years, with last such vesting on June 30, 2024.

 

2. 1,609,934 PSUs granted, vesting of these PSUs is linked to the performance of the Yatra share price and the trigger price points range from $1.80 to$10.00.

 

3. 692,000 RSUs granted, vesting of these RSUs would commence from June 4, 2021 with first vesting equivalent to equal monthly installments over a period of four years, with last such vesting on March 1, 2025. Out of these 29,793 RSUs have been considered vested on grant date.

 

4. 1,280,154 PSUs granted, vesting of these PSUs is linked to the performance of the Yatra share price and the trigger price points range from $2.50 to $4.00.

 

5. 132,911 RSUs granted to directors on quarterly basis in lieu of compensation for the financial year ended March 31, 2025. During the Financial Year 2024, 91,196 RSUs granted to directors in lieu of compensation.

 

6. 649,500 RSUs granted, vesting of these RSUs would commence from May 19, 2022 with first vesting equivalent to equal monthly installments over a period of four years, with last such vesting on March 1, 2026.

 

7. 1,248,185 PSUs granted, vesting of these PSUs is linked to the performance of the Yatra share price and the trigger price points range from $2.50 to $4.00.

 

8. 84,000 RSUs granted, vesting of these RSUs would commence from September 22, 2022 with first vesting equivalent to equal monthly installments over a period of four years, with last such vesting on September 1, 2026.

 

9. 475,876 RSUs granted, vesting of these RSUs would commence from July 20, 2023 with first vesting equivalent to equal monthly installments over a period of three years, with last such vesting on March 1, 2026.

 

10. 1,248,184 PSUs granted, vesting of these PSUs is linked to the performance of the Yatra share price and the trigger price points range from $2.75 to $4.25.

 

11. 167,873 RSUs granted, vesting of these RSUs would commence from July 20, 2023 with fully vested on September 1, 2023.

 

12. 25,000 RSUs granted, vesting of these RSUs would commence from April 01, 2024 with fully vested on March 31, 2027.

 

13. 300,000 RSUs and 1,025,640 PSUs granted, vesting of these RSUs would commence from April 01, 2024 with fully vested on March 31, 2027. Vesting of these PSUs is linked to the performance of the Yatra share price and the trigger price points range from $2.75 to $4.25.

  

   March 31, 2024   March 31, 2025 
   No. of shares   No. of shares 
Number of RSU/PSU’s outstanding at the beginning of the year   3,619,800    4,578,910 
Granted during the year   1,983,129    1,483,551 
Expired during the year   117,969    - 
Vested/exercised during the year   906,050    694,096 
Vested RSUs net settled for employee’s tax obligation*   -    69,189 
Number of RSU/PSU’s outstanding at the end of the year   4,578,910    5,299,176 

 

*As per Tax laws applicable in India, the Company is obliged to withhold an amount for an employee’s tax obligation associated with a share-based payment and transfer that amount in cash, to the tax authority on the employee’s behalf. Accordingly, during the year ended March 31, 2025, the Group settled the transaction on a net basis by withholding the number of vested PSUs with a fair value equal to the monetary value of the employee’s tax obligation of INR 6,676 which has been paid to the tax authority on the employee’s behalf before March 31, 2025. Total tax liability paid of INR 6,676 is recognized in equity as transaction with equity shareholders.

 

The weighted average remaining contractual life for RSU’s outstanding as at March 31, 2025 was 0.92 years (March 31, 2024: 1.27).

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)

 

The range of exercise prices for RSU’s outstanding at the end of the year is Nil (March 31, 2024: Nil).

 

During the year ended March 31, 2025, share based compensation cost for these RSU’s/PSU’s is recognized under personnel expenses amounting to INR 124,787 (March 31, 2024: 229,238 and March 31, 2023: 138,196). Refer to Note 11.

 

The following tables list the inputs to the model used for the years then ended

 

   March 31, 2024   March 31, 2025 
   PSU’s   RSU’s   PSU’s   RSU’s 
Weighted average Fair value of ordinary share at the measurement date (USD)   2.02    2.02    1.35    2.02 
Risk-free interest rate (%)   4.15%   4.15%   4.19%   4.15%
Expected volatility (%)   55.00%   55.00%   46.50%   55.00%
Expected life   4 years    4 years    4 years    4 years 
Dividend Yield   0%   0%   0%   0%
Model used   Monte Carlo Simulation    Black-Scholes Valuation    Monte Carlo Simulation    Black-Scholes Valuation 

 

 

The expected life of RSU’s and PSU’s options has been taken as the vesting period.

 

The expected volatility reflects the assumption based on median of historical volatility on the share prices of the similar entities over a period.

 
v3.25.2
Components of Other Comprehensive Income/ (Loss)
 12 Months Ended
Mar. 31, 2025
Components Of Other Comprehensive Income  
Components of Other Comprehensive Income/ (Loss)

31. Components of Other Comprehensive Income/ (Loss)

 

The following table summarizes the changes in the accumulated balance for each component of accumulated other comprehensive (loss)/ income attributable to the Company.

  

      2023    2024   2025 
      March 31, 
    2023    2024   2025 
Actuarial loss on defined benefit plan:                
Actuarial loss on obligation     (10,508 )   (6,449)   (3,061)
Income tax expense     (205 )   443    - 
Total     (10,713 )   (6,006)   (3,061)
                   
Foreign currency translation:                  
Foreign currency translation differences     1,245     (15,027)   202,414 
Balance at the end of year     (9,468 )   (21,033)   1,99,353 

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)

 
v3.25.2
Borrowings
 12 Months Ended
Mar. 31, 2025
Disclosure Borrowings Abstract  
Borrowings

32. Borrowings

  

   Term  2024   2025 
      March 31, 
   Term  2024   2025 
Current             
Secured             
Vehicle loan  Less than 1 year   9,509    10,136 
Bank overdraft and cash credit  Less than 1 year   -    57,134 
Non convertible debentures  Less than 1 year   108,105    - 
Sale bill discounting  Less than 1 year   405,901    457,850 
Total      523,515    525,120 
              
Non-Current             
Vehicle loan  More than 1 year   23,884    20,744 
Non Convertible Debentures  More than 1 year   90,793    - 
Total      114,677    20,744 

 

Particulars  Currency  Interest Rate  Maturity  2024   2025 
         Year of  March 31, 
Particulars  Currency  Interest Rate  Maturity  2024   2025 
Non Convertible Debentures  INR  14.25%  2025   198,898    - 
Vehicle loan  INR  7%-11.25%  2025-2031   33,393    30,880 
Sale bill discounting  INR  Floating rate*  On demand   405,901    457,850 
Bank overdraft and cash credit  INR  Floating rate**  On demand   -    57,134 
             638,192    545,864 

 

*3M MCLR + 0.20% to 0.50% spread

 

**3M/ 12M MCLR + 0.20% to 1.00% spread

 

Sales bill discounting (including sublimits of bank overdraft, cash credit and bank guarantee)#

 

The facility of INR Nil (March 31, 2024: INR 300,000) is taken from ICICI Bank by the Group. The facility is fully secured against the fixed deposits. As on March 31, 2025, the Group has utilized INR Nil (March 31, 2024: INR 9,519) out of the above facility for issuance of bank guarantees for “International Air Transport Association”.

 

The Group has facility of INR 820,000 (March 31, 2024: INR 550,000) from Axis Bank. The facility is fully secured against exclusive charge on specific receivables discounted by Axis Bank, pari passu charges on the entire other current assets and all movable fixed assets of “Yatra Online Limited”, “Globe All India Services Limited” and “Yatra for Business Private Limited”, both present and future and cash margin in the form of fixed deposits for 20% of the facility. As on March 31, 2025, the Group has utilized INR 156,550 (March 31, 2024: INR 25,874) out of the above facility.

 

The Group has a facility of INR 600,000 (March 31, 2024: INR 400,000) from Federal Bank. The facility is fully secured against exclusive charge on specific receivables discounted by Federal Bank, pari passu charges on the entire other current assets and all movable fixed assets of “Yatra Online Limited” and “Yatra for Business Private Limited”, both present and future and cash margin in the form of fixed deposits for 20% of the facility. As on March 31, 2025, the Group has utilized INR 200,000 (March 31, 2024: INR 118,309) out of the above facility.

 

The Group has a facility of INR 650,000 (March 31, 2024: INR 500,000) from IDFC Bank. The facility is fully secured against exclusive charge on specific receivables discounted by IDFC Bank, pari passu charges on the entire other current assets and all movable fixed assets of “Yatra Online Limited” and “Yatra for Business Private Limited” individually for their facilities, both present and future and cash margin in the form of fixed deposits for 20% of the facility. As on March 31, 2025, the Group has utilized INR 158,455 (March 31, 2024: 261,718) for sales bill discounting and INR 50,000 for bank guarantee out of the above facility.

 

The Group has a facility of INR 200,000 (March 31, 2024: INR Nil) from Yes Bank. The facility is fully secured against exclusive charge on specific receivables discounted by Yes Bank, pari passu charges on the entire other current assets and all movable fixed assets of “Yatra Online Limited” and “Yatra for Business Private Limited” individually for their facilities, both present and future and cash margin in the form of fixed deposits for 20% of the facility. As on March 31, 2025, the Group has utilized INR Nil (March 31, 2024: Nil) out of the above facility for sales bill discounting.

 

# Refer to Note 26 for details of discounted receivables.

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)

 

Bank Guarantee

 

The Group has facility of INR 150,000 from ICICI Bank. The facility is secured by pari passu charges on the entire current assets (except ones specifically discounted from other banks) and all movable fixed assets of “Yatra Online Limited”, both present and future and cash margin in the form of fixed deposits for 20% of the facility. As on March 31, 2025, the Group has utilized INR 121,000 out of the above facility.

 

Vehicle loan

 

This includes the vehicles taken on loan by the Group refer note 19. Further some loan are secured by term deposits refer note 23

 

Non Convertible Debentures from Blacksoil Capital Pvt. Ltd. & Black Soil India Credit fund (“Blacksoil”)

 

During the financial year ended March 31, 2023, Yatra Online Limited had issued 600 unlisted, secured, redeemable, and non-convertible debentures (NCDs) of a nominal value of INR 500,000 each, issued and allotted by the Company on a private placement basis to Blacksoil aggregating to INR 300,000. These NCDs shall be redeemed with Interest @ 14.25% p.a. during a period of thirty months from the date of allotment (December 20, 2022). The first repayment of principal shall commence on August 31, 2023 and interest payment started from December 31, 2022. Post 12 months from the allotment date, till the time amount payable to Blacksoil is atleast INR 20,000, Yatra Online Limited shall have the right (but not the obligation) to redeem any or all of the NCDs by paying all outstanding amounts. Any prepayment will attract premium of 2% on the amount being redeemed/prepaid. These NCDs have been secured against the first pari-passu charge over the movable fixed assets and current assets (both present and future).

 

Further, during the financial year, parent company has exercised the right to redeem in full 600 unlisted, secured, redeemable, and non-convertible debentures (NCDs) of a nominal value of INR 500,000 each, issued and allotted by the Company on a private placement basis to Blacksoil aggregating to INR 300,000. The right has been exercised on January 31, 2024 and the amount outstanding on the date of redemption was 231,818.

 

During the financial year ended March 31, 2024, Yatra Online Limited had issued 400 unlisted, secured, redeemable, and non-convertible debentures (NCDs) of a nominal value of INR 500,000 each, issued and allotted by the Company on a private placement basis to Blacksoil aggregating to INR 200,000. These NCDs shall be redeemed with Interest @ 14.25% p.a. during a period of thirty months from the date of allotment (August 18, 2023). The first repayment of principal shall commence on April 30, 2024 and interest payment started from August 31, 2023. Post 12 months from the allotment date, till the time amount payable to Blacksoil is atleast INR 20,000, Yatra Online Limited shall have the right (but not the obligation) to redeem any or all of the NCDs by paying all outstanding amounts. Any prepayment will attract premium of 2% on the amount being redeemed/prepaid. These NCDs have been secured against the first pari-passu charge over the movable fixed assets and current assets (both present and future).

 

During the financial year ended March 31, 2025, Company has exercised the right to redeem in full 400 unlisted, secured, redeemable, and non-convertible debentures (NCDs) of a nominal value of INR 500,000 each, issued and allotted by the Company on a private placement basis to Blacksoil aggregating to INR 200,000. The right has been exercised on August 20, 2024 and the entire amount outstanding has been redeemed.

 

The Group has used the borrowings from banks and financial institutions for general corporate purposes for which such term loan was taken.

 

Quarterly returns or statements of current assets filed by one of the step down subsidiary with banks or financial institutions are not in agreement with the books of accounts as stated below.

 

Following are the material discrepancies between books of accounts in one of the step down subsidiary and quarterly statements submitted to banks, where borrowings have been availed based on security of current assets:

  

Quarter  Name of Bank  Particulars of Security Provided  Amount as per Books of Account  

Amount as reported

in the quarterly return / statement

   Amount of Difference   Reason for material discrepancies
March 31, 2025  Axis bank  Trade Receivables   1,055,193    1,032,444    22,750   The discrepancy majorly is on account of the details being submitted on the basis of provisional books / financial statements. Adjustments pertaining to cut offs are done only on finalization of books of accounts / financial statements.”

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)
v3.25.2
Trade and other payables
 12 Months Ended
Mar. 31, 2025
Trade And Other Payables  
Trade and other payables

 

33 Trade and other payables

  

   2024   2025 
   March 31, 
   2024   2025 
Trade payables   1,146,789    1,677,434 
Accrued expenses   488,527    447,600 
Refund and other payables   972,771    828,035 
Total   2,608,087    2,953,069 
Current   2,608,087    2,953,069 
Non-current   -    - 
Total   2,608,087    2,953,069 

 

For explanations on the Group’s liquidity risk management processes, refer to Note 39.
v3.25.2
Employment benefit plan
 12 Months Ended
Mar. 31, 2025
Disclosure of defined benefit plans [abstract]  
Employment benefit plan

 

34. Employment benefit plan

  

   2024   2025 
   March 31, 
   2024   2025 
Defined benefit obligation   71,449    87,180 
Liability for compensated absences   25,708    41,200 
Total liability   97,157    128,380 
           

Current

   41,307    62,550 
Non Current   55,850    65,830 
Total   97,157    128,380 
Net Unfunded liability   71,449    87,180 

 

The Group’s gratuity scheme for its employees in India, is a defined benefit plan. Gratuity is paid as a lump sum amount to employees at retirement or termination of employment at an amount based on the respective employee’s eligible salary and the years of employment with the Group. The benefit plan is partially funded. The following table sets out the disclosure in respect of the defined benefit plan.

 

Movement in obligation

  

   March 31, 
   2024   2025 
Present value of obligation at beginning of year   79,497    76,876 
On account of business combination   -    15,833 
Interest cost   4,269    5,543 
Current service cost   8,437    12,563 
Past service cost   (1,633)   - 
Remeasurement (gain)/ loss  on obligation   -    - 
-economic assumptions   4,581    1,641 
-demographic assumptions   (211)   448 
-experience assumptions   1,874    1,037 
Benefits paid   (19,938)   (14,284)
Present value of obligation at closing of year   76,876    99,657 

 

Movement in plan assets*

 

   March 31, 
   2024   2025 
Fair value of plan assets at beginning of the year   8,218    5,427 
On account of business combination   -    6,937 
Employer contributions   -    - 
Benefits paid   (3,169)   (849)
Return on plan assets (excluding amounts included in net interest expense)   584    890 
Remeasurement (gain)/loss on plan assets   (206)   72 
Fair value of plan assets at end of the year   5,427    12,477 

 

*plan assets represents investment made by the Company in LIC funds.

 

Unfunded liability

 Schedule of unfunded liability

   2024   2025 
   March 31, 
   2024   2025 
Current   15,601    21,350 
Non-current   55,848    65,830 
Unfunded liability recognized in statement of financial position   71,449    87,180 

 

Components of cost recognized in profit or loss

  

   2023   2024   2025 
Current service cost   8,619    8,437    12,563 
Past service cost   -    (1,633)   - 
Net interest cost   2,702    3,686    4,653 
Components of cost recognized in profit or loss   11,321    10,490    17,216 

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements for the year ended March 31, 2025

(Amount in INR thousands, except per share data and number of shares)

 

Amount recognized in other comprehensive income

  

   2023   2024   2025 
Remeasurement loss on obligation*   10,713    6,006    3,061 

 

*Refer to Note 31 for the movement during the year.

 

The principal actuarial assumptions used for estimating the group’s defined benefit obligations are set out below:

  

   March 31, 
   2024   2025 
Discount rate   7.19%   6.54%- 6.85% 
Future salary increase   5.00%   5.00%
Average expected future working life (years)   3.46-3.63    3.21-16.09 
Retirement age (years)   65    60-65 
Mortality table   IALM* (2012-14) Ultimate 
Withdrawal rate (%)          
Ages          
Upto 30 years   30%   2%-27% 
From 31 to 44 years   29%   2%-31% 
Above 44 years   23%   2%-31% 

 

*Indian Assured Lives Mortality (2012-14) Ultimate represents published mortality table used for mortality assumption.

 

Sensitivity analysis

 

Reasonably possible changes at the reporting date to one of the relevant actuarial assumptions, holding other assumptions constant, would have affected the defined benefit obligation by the amounts shown below:

  

   March 31, 
   2024   2025 
a) Impact of the change in discount rate          
a) Impact due to increase of 0.50 %   (1,152)   (9,616)
a) Impact due to increase of 0.50 %   (1,152)   (9,616)
b) Impact due to decrease of 0.50 %   1,191    15,688 
           
b) Impact of the change in salary increase          
a) Impact due to increase of 0.50 %   1,255    14,872 
b) Impact due to decrease of 0.50 %   (1,231)   (8,718)

 

The sensitivity analyses above have been determined based on a method that extrapolates the impact on the defined benefit obligation as a result of reasonable changes in key assumptions occurring at the end of the reporting period. These analysis are based on a change in a significant assumption, keeping all other assumptions constant and may not be representative of an actual change in the defined benefit obligation as it is unlikely that changes in assumptions would occur in isolation of one another.

 

The following payments are expected contributions to the defined benefit plan in future years:

  

   2024   2025 
   March 31, 
   2024   2025 
Year 1   21,029    27,720 
Year 2   15,962    17,335 
Year 3   12,549    14,401 
Year 4   10,899    12,037 
Year 5   8,589    9,501 
Year 6-10   21,709    28,428 
Above 10   8,366    33,562 
Total expected payments   99,103    142,984 

 

b) Defined contribution plans

 

During the year, the Group has realized the following amounts in the Statement of Profit and Loss (refer to note 11)

  

   2024   2025 
   March 31, 
   2024   2025 
Employer’s contribution to Employees’ Provident fund   38,683    63,031 
Employer’s contribution to Labour Welfare Fund   16,000    630 
Employer’s contribution   54,683    63,661 

 

CODE ON SOCIAL SECURITY, 2020

 

The Code on Social Security, 2020 (‘Code’) relating to employee benefits during employment and post-employment benefits received Presidential assent in September 2020. The Code has been published in the Gazette of India. However, the date on which the Code will come into effect has not been notified and the final rules/interpretation have not yet been issued. The Company will assess the impact of the Code when it comes into effect and will record any related impact in the period the Code becomes effective. Based on a preliminary assessment, the entity believes the impact of the change will not be significant.

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)
v3.25.2
Deferred Revenue
 12 Months Ended
Mar. 31, 2025
Deferred Revenue  
Deferred Revenue

 

35 Deferred Revenue

 Schedule of deferred revenue, by type

   March 31, 
   2024   2025 
Global Distribution System provider   -    - 
Loyalty program   3,360    2,390 
Total   3,360    2,390 
Non-current   -    - 
Current   3,360    2,390 
Total   3,360    2,390 

 

“Global Distribution System providers” represents the amount received upfront by the group as a part of commercial arrangement with the Global Distribution System (“GDS”) providers for facilitating the booking of airline tickets on our websites or other distribution channels. The same is recognized as revenue for actual airline tickets sold over the total number of airline tickets to be sold as per the term of the agreement, in both cases sold on such GDS platforms, and the balance amount is recognized as deferred revenue.

 Summary of changes in deferred revenue

   March 31, 
   2024   2025 
At 01, April   45,721    3,360 
Deferred during the year   -    - 
Recorded in statement of profit or loss   (42,361)   (970)
Transferred to other financial liability (deposits)   -    - 
At 31, March   3,360    2,390 

 
v3.25.2
Other financial liabilities
 12 Months Ended
Mar. 31, 2025
Other Financial Liabilities  
Other financial liabilities
36 Other financial liabilities

 Schedule of other financial liabilities

   2024   2025 
   March 31, 
   2024   2025 
Current          
Due to employees   65,815    93,924 
Deposits*   353,154    - 
Total   418,969    93,924 

 

*Deposit received from the Global Distribution System provider (GDS), which is repayable at the end of the contract and interest free nature was initially recognized at fair value. The difference between the deposit received and fair value initially recognized is treated as deferred consideration under Note 35. Deposits are subsequently measured at amortized cost and unwinding is recognized under finance cost. The deferred consideration recognized is amortized over the tenure of deposit on straight line basis and amortization is recognized as revenue.

 
v3.25.2
Other current liabilities
 12 Months Ended
Mar. 31, 2025
Other Current Liabilities  
Other current liabilities
37 Other current liabilities

 Schedule of other current liabilities

   2024   2025 
   March 31, 
   2024   2025 
Advance from customers*   622,178    1,027,588 
Statutory liabilities   68,323    117,823 
Other liabilities   52,565    50,381 
Interest accrued on term loan   -    1,545 
Total   743,066    1,197,337 

 

*Advances from customers primarily consist of amounts for future bookings of Airline tickets, Hotel bookings, Packages and freight forwarding services.

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)
v3.25.2
Commitment and contingencies
 12 Months Ended
Mar. 31, 2025
Commitment And Contingencies  
Commitment and contingencies

 

38. Commitment and contingencies

 

a) Capital and other commitments:

 

● Contractual commitments for capital expenditure pending were INR Nil as at March 31, 2025 (INR 10,818 as at March 31, 2024). Contractual commitments for capital expenditure are relating to acquisition of computer software and websites, office equipment, furniture and fixtures.

 

b) Contingent liabilities

 

i) Contingent liabilities not provided for in respect of:

 

   March 31, 2024   March 31, 2025 
Claims against the Group not recognized as debts*   114,410    103,829 
Service tax demand**   311,889    35,377 
Income tax demand***   286,860    821,929 
Goods and service tax demand****   -    64,689 
Bank Guarantee (refer note 32)   -    121,000 
Contingent liabilities   713,159    1,146,824 

 

*These represent claims made by the customers due to service related issues, which are contested by the Group and are pending in various District Consumer Redressal Forums in India. Also these include demand raised under Section 6 of The Employees’ Provident Fund and Misc. Provisions Act,1952 for the financial year 2017-18 and 2018-19. The management does not expect these claims/ demands to succeed and, accordingly, no provision has been recognized in the consolidated financial statements. Therefore the same has been classified as a contingent liability.
** Service tax demand includes:
*** Income tax demand includes:
**** Goods and service tax demand includes:

 

** Service tax demand includes:

 

- INR 7,522 (March 31, 2024: INR 50,353) represents service tax demand for the period April 2007 to March 2015. The Company has filed appeals before appellate authorities. The management believes that likelihood of demand materialising is not probable, and accordingly, no provision has been recognized in the consolidated financial statements.

 

- INR 27,855 (March 31, 2024: INR 261,536), represents show cause cum demand notices raised by service tax authorities over the Group. Based on the Group’s evaluation, the management believes that likelihood of demand materialising is not probable, and accordingly, no provision has been recognized in the consolidated financial statements.

 

*** Income tax demand includes:

 

- INR 294,309 (March 31, 2024: INR 286,860), represents show cause cum demand notices raised by Income Tax authorities over subsidiary companies. Based on the Group’s evaluation, the management believes that likelihood of demand materialising is not probable, and accordingly, no provision has been recognized in the consolidated financial statements.

 

- INR 527,620 (March 31, 2024: INR Nil), on account of certain additions/disallowance made in one of the subsidiary company, represents income tax demand for the financial year 2021–22. The subsidiary company has filed an appeal before the Commissioner of Income Tax (Appeals) in respect of the demand. Based on the Group’s evaluation, believes that likelihood of demand materialising is not probable, and accordingly, no provision has been recognized in the consolidated financial statements.

 

**** Goods and service tax demand includes:

 

INR 64,689 (March 31, 2024: INR Nil), represents show cause cum demand notices raised by GST authorities w.r.t. alleged excess Input Tax Credit (ITC) claims and discrepancies identified in the GST returns filed for the financial years 2017 to 2021. Based on the Group’s evaluation, believes that likelihood of demand materialising is not probable, and accordingly, no provision has been recognized in the consolidated financial statements.

 

c) Lease commitment -Group as lessee

 

As lessee, the Group’s obligation arising from non-cancellable leases are mainly related to lease arrangements for real estate.

 

There were no short term non-cancellable lease contract outstanding as at March 31, 2024 and March 31, 2025.

 

During the year ended March 31, 2025, INR 10,968 was recognized as rent expense under other operating expenses in statement of profit and loss in respect of short term leases (March 31, 2024: INR 3,646 and March 31, 2023: INR 1,832). (Refer note 42)

 

d) Pursuant to the order issued in 2021, corporate insolvency resolution process was initiated against Ezeego One Travel and Tours Limited (“Ezeego”) under the Insolvency and Bankruptcy Code, 2016 (the “IBC”) and Resolution Professional was appointed. Ezeego filed a company petition against one of the Subsidiary company alleging non-payment of INR 219,773. The Subsidiary company challenged the impugned order through an appeal filed during the year. The Hon’ble Appellate Tribunal granted a stay on the impugned order, and the subsidiary has deposited INR 40,319 as a fixed deposit with NCLAT, New Delhi.

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)
v3.25.2
Financial risk management, objective and policies
 12 Months Ended
Mar. 31, 2025
Disclosure of nature and extent of risks arising from financial instruments [abstract]  
Financial risk management, objective and policies

 

39. Financial risk management, objective and policies

 

The Group’s activities are exposed to variety of financial risk: credit risk, liquidity risk and foreign currency risk. The Group’s senior management oversees the management of these risks. The Group’s senior management ensures that the Group’s financial risk activities are governed by appropriate policies and procedures and that financial risks are identified, measured and managed in accordance with the Group’s policies and risk objectives. The Group reviews and agrees on policies for managing each of these risks which are summarized below:

 

a) Credit risk

 

Credit risk is the risk that a counter party will not meet its obligations under a financial instrument or customer contract, leading to a financial loss. The Group is exposed to credit risk from its operating activities (primarily trade receivables), including deposits with banks and financial institutions, foreign exchange transactions and other financial instruments.

 

The carrying amount of the financial assets represents the maximum credit exposure. The maximum exposure to credit risk at the reporting date was:

 

   2024   2025 
   March 31, 
   2024   2025 
Trade and other receivables   4,637,243    5,568,241 
Other financial assets   2,916,793    1,509,606 
Cash and cash equivalents (except cash in hand)   1,741,878    605,146 
Total   9,295,914    7,682,993 

 

Trade receivables

 

Customer credit risk is managed by each business unit subject to the Group’s established policy, procedures and control relating to customer credit risk management. Credit quality of a customer is assessed based on an extensive credit rating scorecard and individual credit limits are defined in accordance with this assessment.

 

The age of Trade and other receivables at the reporting date was:

 

   March 31,   March 31, 
   2024   Impairment   2025   Impairment 
0 - 30 days   2,546,036    5,092    3,272,429    1,816 
31 - 90 days   922,095    1,844    1,218,710    4,439 
91 - 180 days   526,338    1,053    277,439    1,709 
More than 180 days   1,057,918    407,155    1,269,426    461,799 
Total   5,052,387    415,144    6,038,004    469,763 

 

The movement in the allowance for doubtful debts in respect of trade and other receivables during the year was as follows:

 

   As at March 31 
   2024   2025 
Balance at the beginning of the year   452,046    415,144 
Provisions accrued during the year   (30,964)   67,411 
Amount written off during the year   (5,938)   (12,792)
Balance at the end of the year   415,144    469,763 

 

Allowances for doubtful debts mainly represent amounts due from airlines, hotels and customers. Based on historical experience, the Group believes that no impairment allowance is necessary, except for as disclosed in Note 26, in respect of trade receivables.

 

b) Liquidity risk

 

Due to dynamic nature of the underlying businesses, the consolidated entity aims to maintain flexibility in funding by keeping committed credit lines available.

 

The Group manages liquidity by maintaining adequate reserves, banking facilities and reserve borrowing facilities, by continuously monitoring forecast and actual cash flows and matching the maturity profiles of financial assets and financial liabilities.

 

The following tables set forth Company’s financial liabilities based on expected and undiscounted amounts as at March 31, 2024 and March 31, 2025.

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)

 

As at March 31, 2024

 Schedule of financial liabilities by type

   Carrying Amount   Contractual Cash Flows *   Within 1 year   1 -5 Years   More than 5 years 
Vehicle loan   33,393    40,172    12,385    27,787    - 
Lease liabilities   215,742    284,724    77,715    207,009    - 
Trade and other payables   2,608,087    2,608,087    2,608,087    -    - 
Sales bill discounting   405,901    405,901    405,901    -    - 
Non convertible debenture   198,898    225,302    128,881    96,421    - 
Other financial liabilities   418,969    418,969    418,969    -    - 
Total   3,880,990    3,983,155    3,651,938    331,217    - 

 

As at March 31, 2025

 

   Carrying Amount   Contractual Cash Flows *   Within 1 year   1 -5 Years   More than 5 years 
Vehicle loan   30,880    34,455    12,695    21,760    - 
Lease liabilities   238,149    312,500    79,221    200,579    32,700 
Trade and other payables   2,953,069    2,953,069    2,953,069    -    - 
Sales bill discounting and bank overdraft   514,984    514,984    514,984    -    - 
Other financial liabilities   93,924    93,924    93,924    -    - 
Total   3,831,006    3,908,932    3,653,893    222,339    32,700 

 

*Represents Undiscounted cash flows of interest and principal

 

Based on the past performance and current expectations, the Group believes that the cash and cash equivalent and cash generated from operations will satisfy the working capital needs, funding of operational losses, capital expenditure, commitments and other liquidity requirements associated with its existing operations through at least the next 12 months. In addition, there are no transactions, arrangements and other relationships with any other person that are reasonably likely to materially affect or the availability of the requirement of capital resources.

 

c) Foreign currency risk

 

Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of the changes in foreign exchange rates. The Group operates through subsidiaries in India, Singapore and United States. The functional currency of these subsidiaries is the local currency in the respective countries and accordingly there are no related significant foreign currency exposures.

 

The Company currently does not have any hedging agreements or similar arrangements with any counter-party to cover its exposure to any fluctuations in foreign exchange rates. The Group’s exposure to the risk of changes in foreign exchange rates relates primarily to the Group’s operating transactions which are denominated in currency other than subsidiary’s functional currency (foreign currency denominated receivables and payables).

 

Foreign currency sensitivity

 

The following tables demonstrate the sensitivity to a reasonably possible change in exchange rates. Any change in the exchange rate of USD, Euro, GBP and SGD against currencies other than INR is not expected to have significant impact on the Group’s profit or loss. Accordingly, a 5% appreciation/depreciation of the USD, Euro, GBP and SGD currency as indicated below, against the INR would have decreased/increased the loss/gain by the amount shown below; this analysis is based on foreign currency exchange rate variances that the Group considered to be reasonably possible at the end of reporting year. The analysis assumes that all other variables remain constant.

 Summary of foreign currency sensitivity

   March 31, 
   2024   2025 
5% strengthening/weakening of USD against INR   7,053    4,467 
5% strengthening/weakening of USD against INR   7,053    4,467 
           
5% strengthening/weakening of Euro against INR   1,370    5,645 
           
5% strengthening/weakening of GBP against INR   1,599    1,487 
           
5% strengthening/weakening of SGD against INR   (225)   (215)

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)
v3.25.2
Capital management
 12 Months Ended
Mar. 31, 2025
Disclosure of objectives, policies and processes for managing capital [abstract]  
Capital management

 

40. Capital management

 

For the purpose of the Group’s capital management, capital includes issued capital, share premium and all other equity reserves attributable to the equity holders of the parent. The primary objective of the Group’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 the shareholder’s value.

 

In order to achieve this overall objective, the Group’s capital management, amongst other things, aims to ensure that it meets financial covenants attached to its interest-bearing loans and borrowings that form part of its capital structure requirements. Breaches in the financial covenants would permit the bank to immediately call interest-bearing loans and borrowings.

 

The Group manages its capital structure and makes adjustments to it, in light of changes in economic conditions and the requirements of the financial covenants. To maintain or adjust the capital structure, the Group may adjust the dividend payment to shareholders, return capital to shareholders or issue new shares. No changes were made in the objectives, policies or processes during the years ended March 31, 2024 and March 31, 2025.

 Summary of debt ratio information

   2024   2025 
   March 31, 
   2024   2025 
Borrowings and lease liabilities (Refer note 32 and note 42)   853,934    784,013 
Less : Cash and cash equivalents (Refer note 28)   (1,741,950)   (605,802)
Net debt   (888,016)   178,211 
           
Equity   5,388,473    5,403,694 
Total Equity   5,388,473    5,403,694 
           
Gearing ratio (Net debt / total equity + net debt)   (19.73)%   3.19%

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)
v3.25.2
Related party disclosures
 12 Months Ended
Mar. 31, 2025
Related Party Disclosures  
Related party disclosures

 

41. Related party disclosures

 

Related parties and nature of related party relationship where transactions have taken place:

 

Nature of relationship   Name of related party    
         
Key Management Personnel   Mr. Dhruv Shringi   Co-founder, CEO and Director
    Mr. Rohan Mittal (till April 10, 2025)   Chief Financial Officer
    Mr. Anuj Kumar Sethi (w.e.f. April 11, 2025)  

Principal Financial Officer and Principal Accounting Officer

 
    Mr. Anuj Kumar Sethi  (w.e.f October 18, 2019 till November 15, 2022)  

Principal Accounting Officer

 
    Mr. Murlidhara Lakshmikantha Kadaba   Non-executive Director
    Ms. Neelam Dhawan (till January 20, 2025)   Non-executive Director
    Mr. Roshan Mendis   Non-executive Director
    Mr. Stephen Schifrin   Non-executive Director
    Mr. Michael Kaufman (appointed from July 17, 2022)   Non-executive Director
         
Entities having significant influence   MAK Capital Fund, LP    
         
Group Companies of entities having significant influence   Terrapin Partners, LLC    
         
Joint Venture Company   Yatra MICE and Holidays Limited (till June 18, 2024) (formerly known as Adventure & Nature Network Private Limited)    

 

During the year, the Group entered into the following transactions, in the ordinary course of business on an arm’s length basis, with related parties:

 

   March 31, 
   2023   2024   2025 
Group Companies of entities having significant influence               
Entities having significant influence               
Loan taken   821,900    -    - 
Loan repaid   -    821,900    - 
Interest cost   42,838    42,712    - 
Bank charges   47,765    -    - 
Joint venture company               
Recovery of expenses   102    594    - 
Loan given   1,000    6,300    - 
Interest income   -    460    - 

 

   March 31, 
Balances as at (net of allowances)  2024   2025 
Joint venture company           
Trade receivable */**   530    - 
Other financial assets**   -    - 
Advances   6,300    - 

 

*Trade receivables includes advance given against the future bookings amounting INR Nil (March 31, 2024: 530). Provision for impairment on trade receivables INR Nil (March 31, 2024: INR Nil). Closing balance of trade receivables (net of allowance) as of March 31, 2025 is INR Nil (March 31, 2024: INR 530), refer to note 26.

 

**Provision for impairment on loans to joint venture is INR Nil (March 31, 2024: INR Nil). Cumulative provision for impairment on loans to joint venture as on March 31, 2025 is INR Nil (March 31, 2024: INR 73,719). Closing balance of loans to joint venture (net of allowance) as of March 31, 2025 is INR Nil (March 31, 2024: INR Nil), refer to note 27.

 

Outstanding balances at the year-end are unsecured and interest free. There have been no guarantees provided or received for any related party receivables or payables.

 

Compensation of key management personnel of the Group

 

   2023   2024   2025 
             
Short-term employee benefits   44,749    49,436    51,606 
Contributions to defined contribution plans   618    691    721 

Bonus

   6,765    -    58,551 
Directors Sitting fee’s   14,345    14,237    15,100 
Share based payment   114,632    181,294    95,563 
Total compensation paid to key management personnel   181,109    245,658    221,541 

 

Provision for gratuity and compensated absences has not been considered, since the provisions are based on actuarial valuations for the Group’s entities as a whole.

 

The amount disclosed in the table are the amounts recognized as an expense during the reporting period related to key management personnel.

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)
v3.25.2
Leases
 12 Months Ended
Mar. 31, 2025
Leases  
Leases

 

42. Leases

 

The Group has lease contracts for various items of buildings and other equipment used in its operations. Leases of buildings generally have lease terms between 2 and 9 years, while other equipment generally have lease terms of 3 years. The Group’s obligations under its leases are secured by the lessor’s title to the leased assets. Generally, the Group is restricted from assigning and subleasing the leased assets and some contracts require the Group to maintain certain financial ratios. There are several lease contracts that include extension and termination options and variable lease payments.

 

The Group also has certain leases of buildings with lease terms of 12 months or less. The Group applies the ‘short term leases’ recognition exemptions for these leases.

 

(i) Set out below are the carrying amounts of right-of-use assets recognized and the movement during the year;

 

   Buildings   Others   Total 
Balance as of April 1, 2023   189,893    10,867    200,760 
Additions   -    13,548    13,548 
Deletions   -    -    - 
Depreciation (Refer note 13)   (49,923)   (4,348)   (54,271)
Effects of movements in foreign exchange rates   -    -    - 
Balance as of March 31, 2024   139,970    20,067    160,037 
Additions   86,914    -    86,914 
Deletions   (2,476)   -    (2,476)
Depreciation (Refer note 13)   (50,289)   (11,157)   (61,446)
Effects of movements in foreign exchange rates   -    -    - 
Balance as of March 31, 2025   174,119    8,910    183,029 

 

The following are the amounts recognized in profit or loss:

 

   2024   2025 
   March 31, 
   2024   2025 
Depreciation expense of right-of-use asset (Refer note 13)   54,271    61,446 
Interest on lease liabilities (Refer note 16)   32,267    32,608 
Expense relating to short-term leases (Refer note 12)   3,646    10,968 
Gain on termination/ rent concession of leases (Refer note 10)   -    619 
Total amount recognized in profit or loss   90,184    105,641 

 

The following is the break-up of current and non-current lease liabilities as of March 31, 2024 and March 31, 2025:

 

   2024   2025 
   March 31, 
   2024   2025 
         
Current lease liabilities   51,324    51,810 
Non-current lease liabilities   164,418    186,339 
Total   215,742    238,149 

 

The following is the movement in lease liabilities during the year ended March 31, 2024 and March 31, 2025:

 

   2024   2025 
   March 31, 
   2024   2025 
Balance as of April 1   251,228    215,742 
Additions   13,050    83,019 
Finance cost accrued during the period (Refer note 16)   32,267    32,608 
Deletions   -    (3,123)
Payment of lease liabilities   (80,803)   (90,097)
Effects of movements in foreign exchange rates   -    - 
Balance as of March 31   215,742    238,149 

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)

 

The table below provides details regarding the contractual maturities of lease liabilities as of March 31, 2024 and March 31, 2025 on an undiscounted basis:

 

   March 31, 
   2024   2025 
Less than one year   77,715    79,221 
One to five years   207,009    200,579 
More than five years   -    32,700 
Total   284,724    312,500 

 

ii) Extension Option

 

Some property leases contain extension options exercisable by the Group for 3-5 years after the end of the non-cancellable contract period. Where practicable, the Group seeks to include extension options in new leases to provide operational flexibility. The extension options held are exercisable only by the Group and not by the lessors. The Group assesses at lease commencement date whether it is reasonably certain to exercise the extension options. The Group reassesses whether it is reasonably certain to exercise the options if there is a significant event or significant changes in circumstances within its control.
v3.25.2
Listing and related expenses
 12 Months Ended
Mar. 31, 2025
Listing And Related Expenses  
Listing and related expenses

 

43. Listing and related expenses

 

During the previous year, one of our subsidiary, Yatra India had completed its initial public offer (IPO) of 54,577,465 equity shares of face value of INR 1 each at an issue price of INR 142 per share, comprising fresh issue of 42,394,366 shares and offer for sale of 12,183,099 shares by existing shareholders of Yatra India comprising of 11,751,729 shares sale by THCL (intermediate Holdco of Yatra India) and 431,360 shares sale by Pandara Trust I (existing NCI in Yatra India).

 

Cash consideration received for sale of INR 61,253 collected on behalf of Pandara is fully remitted to them after adjusting for their share of transaction cost of INR 3,285. This doesn’t have any impact on consolidated financial statements of the Group.

 

Incremental costs directly attributable to a probable future equity transaction related to Indian IPO that otherwise would have been avoided are treated as transaction costs and are recognized as a prepayment and other assets, if completion of future equity transaction is probable. These costs recognized as a prepayment and other assets, net of recovery from the selling shareholder, are recognized in equity on the completion of IPO. The remaining costs, when incurred, are recognized immediately in profit or loss under head listing and related expenses.

 

Total cumulative expense incurred till March 31, 2025 is INR 412,407 (March 31, 2024: INR 412,407 and March 31, 2023: INR 108,956) is recognized as follows:

 

● incremental costs directly attributable to equity transaction of INR Nil are recognized in equity for the year ended March 31, 2025 (INR 281,885 as at March 31, 2024 was recorded in prepaid expense) and
   
● the remaining cost incurred of INR Nil (March 31, 2024: 54,238 and March 31, 2023: INR 23,591) are recognized in profit or loss under head listing and related expenses for the year ended March 31, 2025.

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in lakhs, except per share data and number of shares)
v3.25.2
Business Combination
 12 Months Ended
Mar. 31, 2025
Business Combination  
Business Combination

 

44. Business Combination

 

Globe All India Services Limited (“Globe”)

 

On September 11, 2024, the Yatra Online limited (the “Subsidiary company”) acquired all of the outstanding shares of Globe pursuant to a Share Purchase Agreement dated September 02, 2024 by and among the Subsidiary company, Globe and the sellers party thereto (the “Share Purchase Agreement”). Pursuant to the terms of the Share Purchase Agreement, the Subsidiary company has acquired all the outstanding shares of Globe in exchange for consideration of INR 1,280,000.

 

This acquisition has further strengthened the Group’s position in the large and growing corporate travel market in India region along with adding various corporate clients to its existing client base. This acquisition allowed in delivering best-in-class experiences to an even wider set of corporate clients, through the Company’s web and mobile app platforms and enhancing its reach to cross-sell its entire product suite, including hotels, to this customer base.

 

The operations of Globe have been consolidated in the financial statements of the Group from September 11, 2024. Globe has contributed net revenue of INR 1,560,141 and profit of INR 97,334 to the Group’s result. Hence, consolidated income and expenditures of the Group reported for the current year are not comparable with those of the previous year.

 

The following table represents the unaudited pro forma revenues and net income/ (loss) assuming the acquisition of Globe occurred on April 1, 2023.

 

   (unaudited)  (unaudited)
   March 31,
   2024  2025
   (unaudited)  (unaudited)
Revenue   2,522,464    2,504,931 
Net Income/ (loss)   83,321    (25,305)

 

Acquisition-related costs

 

The Group incurred acquisition related costs of INR 8 relating to stamp duty. These amounts have been charged off to consolidated statement of Profit & Loss during the current year.

 

Purchase consideration

 

Purchase consideration for the above acquisition has been fair valued at INR 1,280,000 as at September 10, 2024 which has been duly paid to the sellers.

 

      
The fair values of the identifiable assets and liabilities of Globe as at the date of acquisition were:     
Net working capital (including cash)*   559,000 
Property, plant and equipment   46,000 
Trademarks   315,870 
Customer base and relationships   189,780 
Vendor base and relationships   138,030 
Borrowings   (523,990)
Deferred tax asset   4,570 
Deferred tax liability   (172,789)
Total identifiable net assets at fair value   556,471 
Goodwill   723,529 
Total purchase consideration   1,280,000 
      
Analysis of cash flows on acquisition:     
      
Net cash acquired with the subsidiary   3,000 
Cash paid   (1,280,000)
Net cash flow on acquisition   (1,277,000)

 

The table below shows the values and lives of intangibles recognized on acquisition:-

 

   Life (years)    
Supplier relationship  15   138,030 
Trademarks  15   315,870 
Customer relationship  15   189,780 
Total Intangibles      643,680 

 

The goodwill recognized is primarily attributed to the expected synergies and other benefits from combining the assets and activities of Globe with those of the Group. The goodwill is not deductible for income tax purposes.

 

*The fair value of the net working capital includes trade receivables with a fair value of INR 522,550 equivalent to gross contractual amount receivable.

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)

 

Yatra Mice and Holidays Limited (formerly known as Adventure and Nature Network Private Limited) (“ANN”)

 

Refer note 14, till June 18, 2024, the Yatra Online limited (the “Subsidiary company”) had invested in 50% stake in ANN, which was regarded as a jointly controlled entity and hence, accounted for using equity method in accordance with the provisions of IAS 28 “Investments in Associates and Joint Ventures”.

 

On June 19, 2024, the Subsidiary Company acquired additional 49% stake in outstanding shares of ANN pursuant to a Share Purchase Agreement entered on the said date by and among the Subsidiary Company, ANN and the sellers party thereto (the “Share Purchase Agreement”). Pursuant to the terms of the Share Purchase Agreement, the Subsidiary company has acquired the above additional stake in exchange for consideration of INR 9,800 and is now regarded as subsidiary in accordance with the provisions of IFRS-10 “Consolidated financial statements”.

 

Thus, the acquisition of additional 49% stake is regarded as business combination achieved in stages, wherein the Group has remeasured its previously held equity interest in ANN at its acquisition-date fair value and recognize the resulting gain/ loss amounting to INR Nil in the statement of profit or loss.

 

This acquisition has further strengthened the Group’s position in the large and growing tour and package business in India region along with adding various corporate clients to its existing client base.

 

The operations of ANN have been consolidated in the financial statements of the Group from June 19, 2024. ANN has contributed net revenue of INR 38,586 and profit of INR 1,871 to the Group’s consolidated financial statements in the current year.

 

Acquisition-related costs

 

The Group incurred acquisition related costs of INR 3 relating to stamp duty. These amounts have been charged off to consolidated statement of profit & loss during the current year.

 

Purchase consideration

 

Purchase consideration for the above acquisition has been fair valued at INR 9,800 as at June 19, 2024 which has been duly paid to the sellers.

 

The fair values of the identifiable assets and liabilities of ANN as at the date of acquisition were:     
Net working capital (including cash)   (6,400)
Total identifiable net assets at fair value   (6,400)

Non-controlling interests measured at fair value

   (200)
Deferred tax assets   26,410 
Total enterprise value (including fair value of existing 50% stake)   19,810 
      
Analysis of cash flows on acquisition:     
      
Net cash acquired with the subsidiary   2,870 
Cash paid   (9,800)
Net cash flow on acquisition   (6,930)

 
v3.25.2
Composite Scheme of Amalgamation
 12 Months Ended
Mar. 31, 2025
Composite Scheme Of Amalgamation  
Composite Scheme of Amalgamation

45. Composite Scheme of Amalgamation

 

On August 12, 2024, the Board of Directors of Yatra Online Limited (“Subsidiary company”), approved a Composite Scheme of Amalgamation (“Scheme”) involving the Subsidiary company (the “Amalgamated Company”) and its five wholly-owned subsidiaries i.e. Travel.Co.In Private Limited, Yatra For Business Private Limited, Yatra TG Stays Private Limited, Yatra Corporate Hotel Solutions Private Limited and Yatra Hotel Solutions Private Limited and one stepdown subsidiary i.e. Yatra Online Freight Services Private Limited (Subsidiary of Yatra For Business Private Limited), (collectively referred to as the “Amalgamating Companies”). The primary objective of this amalgamation is to simplify management, operational, and corporate structures, as group involved in same line of business i.e., tour and travel, thereby enhancing efficiencies and generating synergies. The Scheme had been filed with the Hon’ble National Company Law Tribunal, Mumbai (“NCLT”) for requisite approvals. NCLT has, vide its order dated February 07, 2025, allowed the first motion application filed by the Company. Subsequently, Yatra India had filed the second motion application with NCLT for approval, which NCLT allowed via an order dated July 10, 2025. The Scheme is subject to additional requisite approvals/consents, as may be required in this regard.
v3.25.2
Material accounting policies (Policies)
 12 Months Ended
Mar. 31, 2025
Material Accounting Policies  
Basis of preparation

2.1 Basis of preparation

 

The consolidated financial statements for March 31, 2025 have been prepared in accordance with International Financial Reporting Standards (IFRS Accounting Standards) as issued by the International Accounting Standards Board (IASB). The Group has prepared the consolidated financial statements on the basis that it will continue to operate as a going concern.

 

The consolidated financial statements are prepared on historical cost basis, except for financial instruments that have been measured at fair value (refer accounting policy regarding financial instruments).

 

The Accounting policies have been consistently applied by the Group for all the periods presented in these consolidated financial statements, except in relation to the new standards adopted on April 1, 2024 (Refer Note 2.2).

 

The consolidated financial statements of the Company for the year ended March 31, 2025 were authorized for issuance by the Parent Company’s board of directors on July 31, 2025.

 

All amounts have been rounded to the nearest thousand, unless otherwise indicated.

 
New standards, interpretations and amendments adopted by the Group

2.2 New standards, interpretations and amendments adopted by the Group

 

The Group applied for the first-time certain standards and amendments, which are effective for annual periods beginning on or after April 1, 2024. The Group has not early adopted any other standard, interpretation or amendment that has been issued but is not yet effective.

 

Amendments to IAS 1, “Presentation of Financial Statements” regarding classification of liabilities as current or non- current

 

In January 2020 and October 2022, the IASB issued amendments to paragraphs 69 to 76 of IAS 1 to specify the requirements for classifying liabilities as current or non-current.

 

The amendments clarify;

 

● what is meant by a right to defer settlement;
● that a right to defer must exist at the end of the reporting period;
● that classification is unaffected by the likelihood that an entity will exercise its deferral right;
● that only if an embedded derivative in a convertible liability is itself an equity instrument would the terms of a liability not impact its classification; and
● Disclosures

 

The amendment also clarified that if an entity’s right to defer settlement of a liability is subject to the entity complying with the required covenants only at a date subsequent to the reporting period (“future covenants”), the entity has a right to defer settlement of the liability even if it does not comply with those covenants at the end of the reporting period. The amendments are effective for annual reporting periods beginning on or after 1 January 2024 and must be applied retrospectively.

 

The amendment does not have any material impact on the Group’s consolidated financial statements.

 

Amendments to IFRS 16, “Leases” regarding Lease Liability in a Sale and Leaseback

 

Lease Liability in a Sale and Leaseback -Amendments to IFRS 16 In September 2022, the IASB issued Amendments to IFRS 16, “Leases”, adding requirements on explaining the subsequent measurement of sale and leaseback transaction. These amendments will not change the accounting for leases other than those arising in a sale and leaseback transaction. These amendments are effective for annual reporting periods beginning on or after January 1, 2024.

 

The amendments does not have any material impact on the Group’s consolidated financial statements.

 

Amendments to IAS 7 “Statement of Cash Flows and IFRS 7 Financial Instruments” - Disclosures - Supplier Finance Arrangements

 

In May 2023 the IASB issued Supplier Finance Arrangements (‘the 2023 Amendments’), which amended IAS 7 to require an entity to provide additional disclosures about its supplier finance arrangements. The disclosure requirements in the amendments enhance the current requirements and are intended to assist users of financial statements in understanding the effects of supplier finance arrangements on an entity’s liabilities, cash flows and exposure to liquidity risk. The amendments will be effective for annual reporting periods beginning on or after 1 January 2024.

 

The amendments does not have any material impact on the Group’s consolidated financial statements.

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)

 

Amendment to IAS 21 “The Effects of Changes in Foreign Exchange Rates”

 

On August 15, 2023, IASB has issued amendments to IAS 21, “Lack of Exchangeability” that will require companies to provide more useful information in their financial statements when a currency cannot be exchanged into another currency. These amendments specify when a currency is exchangeable into another currency and when it is not and specify how an entity determines the exchange rate to apply when a currency is not exchangeable. The effective date for adoption of this amendment is annual periods beginning on or after January 1, 2025.

 

The amendments does not have any material impact on the Group’s consolidated financial statements, although early adoption is permitted.

 
Basis of consolidation

2.3 Basis of consolidation

 

The consolidated financial statements comprise the financial statements of the Parent Company and its subsidiaries as disclosed in Note 6.

 

A subsidiary is an entity controlled by the Group. Control exists when the parent has power over the entity, is exposed, or has rights to variable returns from its involvement with the entity and has the ability to affect those returns by using its power over the entity. Power is demonstrated through existing rights that give the ability to direct relevant activities, those which significantly affect the entity’s returns.

 

Subsidiaries are fully consolidated from the date on which the Group obtains control over the subsidiary and ceases when the Group loses control of the subsidiary. The financial statements of all subsidiaries are prepared for the same reporting period as that of the Company for consolidation purposes. Where necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies and accounting period in line with those used by the Group. All intra-group assets and liabilities, equity, income, expenses and cash flows relating to transactions between members of the Group are eliminated in full on consolidation.

 

Non-controlling interest is the equity in a subsidiary not attributable, directly or indirectly, to a parent. Non-controlling interests in the net assets of consolidated subsidiaries are identified separately from the Group’s equity therein. Non- controlling interests consist of the amount of those interests at the date of the business combination and the non- controlling interests’ share of changes in equity since that date.

 

Profit or loss and each component of other comprehensive income/ loss (OCI) are attributed to the equity holders of the parent of the Group and to the non-controlling interests, even if this results in the non-controlling interests having a deficit balance.

 

When the proportion of the equity held by the non-controlling interest in a subsidiary changes, without loss of control, the Group adjusts the carrying amount of the controlling and non-controlling interests to reflect changes in their relative interests in the subsidiary. For this purpose, non-controlling interest is measured at proportionate share of the carrying amount of the net assets, including goodwill, if any, of the respective subsidiary. The Group recognizes directly in the NCI Reserve any difference between the amount by which the non-controlling interests are adjusted and the fair value of the consideration paid or received, and attribute it to the owners of the parent. Any transaction costs incurred in connection for sale of non-controlling interest in a subsidiary without loss of control, are deducted from equity and allocated to non-controlling interest.

 

If the Group loses control over a subsidiary, it derecognizes the related assets (including goodwill), liabilities, non- controlling interest and other components of equity, while any resultant gain or loss is recognized in profit or loss. Any investment retained is recognized at fair value.

 
Foreign currency transactions

2.4 Foreign currency transactions

 

The Group’s presentation currency is Indian national rupee (INR) as business activities of the Group are primarily located in India and carried through subsidiaries whose functional currency is INR.

 

For each entity, the Group determines the functional currency and items included in the financial statements of each entity are measured using that functional currency. The Parent Company’s functional currency is United States dollar (USD). The Group’s operations are conducted through the subsidiaries and equity accounted investee where the local currency is generally the functional currency. The financial statements of entities, whose functional currency is other than INR, are translated from their respective functional currencies into INR.

 

Group companies

 

For consolidation, the assets and liabilities of foreign operations are translated into presentation currency at the rate of exchange prevailing at the reporting date and their statement of profit or loss and other comprehensive loss are translated at average exchange rates prevailing during the year ended March 31, 2025, March 31, 2024 and March 31, 2023, except for transactions where there is a significant difference in the average exchange rate and exchange rate on the date of transaction, in which cases, the transactions are reported using rate of that date. The exchange differences arising on translation for consolidation are recognized in OCI and accumulated in equity under the head Foreign currency translation reserve. On disposal of a foreign operation, the component of OCI relating to that particular foreign operation is recognized in profit or loss.

 

Transactions and balances

 

Transactions in foreign currencies are initially recorded by the Group’s entities at their respective functional currency spot rates at the date the transactions first qualify for recognition.

 

Monetary assets and liabilities denominated in foreign currencies are translated at the functional currency spot rates of exchange at the reporting date. Differences arising on settlement or translation of monetary items are recognized in profit or loss.

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)

 

Convenience translation

 

The consolidated financial statements are stated in thousands of INR. However, solely for the convenience of the readers, the consolidated statement of financial position as at March 31, 2025, the consolidated statement of profit or loss and other comprehensive income/ (loss) for the year ended March 31, 2025 and consolidated statement of cash flows for year ended March 31, 2025 were converted into USD at the exchange rate of 85.43 INR per USD, which is based on the noon buying rate as at March 31, 2025, in The City of New York for cable transfers of Indian rupees as certified for customs purposes by the Federal Reserve Bank of New York. This arithmetic conversion should not be construed as representation that the amounts expressed in INR may be converted into USD at that exchange rate as well as that such numbers are in compliance as per the requirements of IFRS. Such convenience translation is not subject to audit by the Company’s Independent Registered Public Accounting Firm.

 

2.5 Summary of material accounting policies

 
Current versus non-current classification

Current versus non-current classification

 

The Group segregates assets and liabilities into current and non-current categories for presentation in the statement of financial position after considering its normal operating cycle and other criteria set out in IAS 1, “Presentation of financial statements”. For this purpose, current assets and liabilities include current portion of non-current assets and liabilities respectively. Deferred tax assets and liabilities are always classified as non-current.

 

The operating cycle is the time between the acquisition of assets for processing and their realization / settlement in cash and cash equivalents. The Group has identified period up to twelve months as its operating cycle for classification of their current assets and liabilities.

 
Joint ventures

Joint ventures

 

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. The considerations made in determining joint control are similar to those necessary to determine control over subsidiaries.

 

The Group’s investment in its joint venture is accounted for using the equity method. Under the equity method, the investment in the joint venture is initially recognized at cost. The carrying amount of the investment is adjusted to recognize changes in the Group’s share of net assets of the joint venture since the acquisition date. The profit or loss reflects the Group’s share of the results of operations of the joint venture. Any change in OCI of those investees is presented as part of the Group’s OCI. In addition, when there has been a change recognized directly in the equity of the joint venture, the Group recognizes its share of any changes, when applicable, in the statement of changes in equity. Unrealized gains and losses resulting from transactions between the Group and the joint venture are eliminated to the extent of the interest in the joint venture.

 

The financial statements of the joint venture are prepared for the same reporting period as that of the Group.

 

At each reporting date, the Group determines whether there is objective evidence that the investment in the joint venture is impaired. If there is such evidence, the Group calculates the amount of impairment as the difference between the recoverable amount of the joint venture and its carrying value and then recognizes the loss as ‘Share of loss of a joint venture’ in the consolidated statement of Profit or Loss and (including other comprehensive Income).

 

When the Group’s share of losses of a joint venture exceeds the Group’s interest in that joint venture (which includes any long-term interests that, in substance, form part of the Group’s net investment in the joint venture), the Group discontinues recognizing its share of further losses. Additional losses are recognized only to the extent that the Group has incurred legal or constructive obligations or made payments on behalf of the joint venture. At each reporting date, Group true-up its obligation to contribute towards the share of cumulative loss of the Joint venture, and reversal, if any, arising is recognized as the gain under ‘Share of loss of a joint venture’ in the statement of profit or loss.

 
Business combinations and goodwill

Business combinations and goodwill

 

Business combinations are accounted for using the acquisition method. The cost of an acquisition is measured as the aggregate of the consideration transferred measured at acquisition date fair value. Identifiable assets and liabilities of acquirer are separately measured at fair value. Acquisition-related costs are expensed as incurred in profit or loss.

 

When the Group acquires a business, it assesses the financial assets and liabilities assumed for appropriate classification and designation in accordance with the contractual terms, economic circumstances and pertinent conditions as at the acquisition date.

 

Goodwill is initially measured at cost, being the excess of the aggregate of the consideration transferred and the amount recognized for Non-controlling Interest over the fair value of the identifiable net assets acquired and liabilities assumed.

 

After initial recognition, goodwill is measured at cost less any accumulated impairment losses. For the purpose of impairment testing, goodwill acquired in a business combination is, from the acquisition date, allocated to each of the Group’s Cash Generating Units (CGUs) or group of CGUs (refer to Note 20) that are expected to benefit from the combination, irrespective of whether other assets or liabilities of the acquiree are assigned to those units.

 

On disposal of a subsidiary, the attributable amount of goodwill is included in the determination of the profit or loss and recognized in statement of profit or loss.

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)

 
Revenue from contracts with customers

Revenue from contracts with customers

 

We recognize revenue when we satisfy a performance obligation by transferring control of the promised services to a customer in an amount that reflects the consideration that we expect to receive in exchange for those services. When we act as an agent in the transaction under IFRS 15, we recognize revenue only for our commission on the arrangement. The Group has concluded that it is acting as agent in case of sale of airline tickets, hotel bookings, sale of rail and bus tickets as the supplier is primarily responsible for providing the underlying travel services and the Group does not control the service provided by the supplier to the traveler and as principal in case of sale of holiday packages since the group controls the services before such services are transferred to the traveler.

 

The Group provides travel products and services to leisure customers (B2C-Business to Consumer), corporate travelers (B2E-Business to Enterprise) and B2B2C (Business to Business to Consumer) travel agents in India and abroad. The revenue from rendering these services is recognized in profit or loss once the services are rendered. This is generally the case : 1) on issuance of ticket in case of sale of airline tickets. 2) on date of hotel booking and 3) on the date of completion of outbound and inbound tours and packages.

 

The application of our revenue recognition policies and a description of our principal activities, organized by segment, from which we generate our revenue, are presented below.

 

Air Ticketing

 

The Group receive commissions or service fees from the travel supplier/bank and/or travelling customer. Revenue from the sale of airline tickets is recognized as an agent on a net commission earned basis. Revenue from service fee is recognized on earned basis. Performance obligation in this regard is satisfied on issuance of airline ticket to the traveler. The Group records an allowance for cancellations at the time of the transaction based on historical experience and restrict revenue recognition only to the extent that it is highly probable that a significant reversal of revenue will not occur in future periods.

 

The Group receives upfront fee from Global Distribution System (“GDS”) providers for facilitating the booking of airline tickets on their website or other distribution channels to travel agents for using their system. The upfront fees is recognized as revenue for actual airline tickets sold over the total number of airline tickets to be sold over the term of the agreement, in both cases using such GDS platforms, and the balance amount is recognized as deferred revenue.

 

The Group earns incentives from airlines if specific targets are achieved over a period of time. Such incentives are treated as variable consideration and the Group estimates the amount of consideration to which it will be entitled in exchange for services at the contract inception date and at each reporting date using either the most likely amount method or the expected value method, depending on which method the Group expects to better predict the amount of consideration to which it will be entitled. The most likely amount is used for those contracts with a single volume threshold, while the expected value method is used for those with more than one volume threshold. The Group includes estimated variable consideration in the transaction price only to the extent that it is highly probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved.

 

The disclosures of significant estimates and assumptions relating to the estimation of variable consideration are provided in Note 8.

 

Hotels and Packages (including Meeting, Incentives, Conferences, & Exhibitions (MICE))

 

Revenue from hotel reservation is recognized as an agent on a net commission earned basis. Revenue from service fee from customer is recognized on earned basis. Both the performance obligations are satisfied on the date of hotel booking. The Group records an allowance for cancellations at the time of booking on this revenue based on historical experience and restrict revenue recognition only to the extent that it is highly probable that a significant reversal of revenue will not occur in future periods.

 

Revenue from packages (including MICE) are accounted for on a gross basis as the Group controls the services before such services are transferred to the traveler and is determined to be the primary obligor in the arrangement. The Group recognises revenue from such packages on the date of completion of outbound and inbound tours and packages. Cost of delivering such services includes cost of hotels, airlines and package services and is disclosed as service cost.

 

Other Services

 

Revenue from other services primarily comprises of revenue from sale of rail and bus tickets and revenue from freight forwarding services. Revenue from the sale of rail and bus tickets is recognized as an agent on a net commission earned basis on the date of booking of ticket, net of allowance for cancellations at the time of the transaction based on historical experience. Revenue related to freight forwarding services is recognized at the time of departure of the cargo at the origin in case of exports and in case of Imports, revenue is recognized on the basis of arrival dates. The Group acts as an agent; accordingly recognize revenue only for commission on the arrangement.

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)

 

Others

 

Income from other source, primarily comprising advertising revenue, revenue from sale of coupons & vouchers and fees for facilitating website access to travel insurance companies are being recognized as the services are being performed as per the terms of the agreements with respective suppliers.

 

Revenue is recognized net of allowances for cancellations, refunds during the period and taxes.

 

The Group provides loyalty programs under which participating customers earn loyalty points on current transactions that can be redeemed for future qualifying transactions. Under its customer loyalty programs, the Group allocates a portion of the consideration received to loyalty points that are redeemable against any future purchases of the Group’s services. This allocation is based on the relative stand-alone selling prices. The amount allocated to the loyalty program is deferred, and is recognized as revenue when loyalty points are redeemed or the likelihood of the customer redeeming the loyalty point become remote.

 

The Group incurs certain marketing and sales promotion expenses which get reduced from revenue. This includes the cost for upfront cash incentives to the end users and loyalty programs as incurred for customer inducement and acquisition for promoting transactions across various booking platforms.

 
Contract balances

Contract balances

 

Contract assets

 

A contract asset is recognized for the right to consideration in exchange for services transferred to the customer if receipt of such consideration is conditional on completion of further activities/ services, i.e., the Group does not have an unconditional right to receive consideration (refer to Note 8).

 

Trade receivables

 

A receivable is recognized if an amount of consideration that is unconditional is due from the customer (i.e., only the passage of time is required before payment of the consideration is due) (refer to Note 26).

 

Contract liabilities

 

A contract liability is the obligation to transfer services to a customer for which the Group has received consideration (or an amount of consideration is due) from the customer. If a customer pays consideration before the Group transfers services to the customer, a contract liability is recognized when the payment is made or the payment is due (whichever is earlier). Contract liabilities, disclosed as deferred revenue, are recognized as revenue when the Group performs under the contract (refer to Note 8).

 
Marketing and sales promotion expenses

Marketing and sales promotion expenses

 

Marketing and sales promotion expenses primarily comprise of online, television, radio and print media advertisement costs as well as event driven promotion cost for the Group’s products and services. Such costs are the amounts paid to or accrued towards advertising agencies or direct service providers for advertising on websites, television, print formats, search engine marketing and any other media. Advertising and business promotion costs are recognized when incurred.

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)

 
Finance income and Finance costs

Finance income and Finance costs

 

Finance income comprises interest income on term deposits. Interest income is recognized as it accrues in the consolidated statement of profit or loss, using the effective interest rate method (EIR).

 

Finance cost comprises interest expense on borrowings, interest expense on lease liability and unwinding of other financial liabilities. Interest expense is recognized in profit or loss using EIR.

 
Income Taxes

Income Taxes

 

The income tax expense comprises of current and deferred income tax. Income tax is recognized in the consolidated statement of Profit and Loss, except to the extent that it relates to items recognized in the other comprehensive income or directly in equity, in which case the related income tax is also recognized accordingly.

 

Current tax

 

Current income tax assets and liabilities for the current period are measured at the amount expected to be recovered from or paid to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted, at the reporting date in the countries where the Group operates and generate taxable income.

 

Current income tax relating to items recognized outside profit or loss is recognized outside profit or loss (either in other comprehensive income or 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 establishes provisions where appropriate.

 

Deferred tax

 

Deferred tax is provided using the liability method on temporary differences between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes at the reporting date. Deferred tax liabilities are recognized for all taxable temporary differences.

 

Deferred tax assets are recognized for all deductible temporary differences, the carry forward of unused tax credits and any unused tax losses, except:

 

● When the deferred tax asset relating to the deductible temporary difference arises from the initial recognition of an asset or liability in a transaction that is not a business combination and, at the time of the transaction, (i) affects neither the accounting profit nor taxable profit or loss and (ii) and does not give rise to equal taxable and deductible temporary differences.

 

● In respect of deductible temporary differences associated with investments in subsidiaries and interests in joint arrangements, deferred tax assets are recognized only to the extent that it is probable that the temporary differences will reverse in the foreseeable future and taxable profit will be available against which the temporary differences can be utilized.

 

Deferred tax assets are recognized to the extent that 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 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 tax asset to be utilized. Unrecognized deferred tax assets are reassessed at each reporting date and are recognized to the extent that it has become probable that future taxable profits will allow the deferred tax asset to be recovered.

 

Deferred tax liabilities are recognized for all taxable temporary differences, except:

 

● When the deferred tax liability arises from the initial recognition of goodwill or an asset or liability in a transaction that is not a business combination and, at the time of the transaction, (i) affects neither the accounting profit nor taxable profit or loss and (ii) and does not give rise to equal taxable and deductible temporary differences.

 

● In respect of taxable temporary differences associated with investments in subsidiaries and interests in joint arrangements, when the timing of the reversal of the temporary differences can be controlled and it is probable that the temporary differences will not reverse in the foreseeable future.

 

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year 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 date.

 

Deferred tax relating to items recognized outside profit or loss is recognized outside profit or loss (either in other comprehensive income or in equity). Deferred tax items are recognized, in correlation to the underlying transaction either in other comprehensive income/loss or directly in equity.

 

Deferred tax assets and deferred tax liabilities are offset if a legally enforceable right exists to set off current tax assets against current income tax liabilities and the deferred taxes relate to the same taxation authority

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)

 

Minimum Alternative Tax

 

Minimum alternate tax (MAT) paid in a year is charged to the statement of profit and loss as current tax for the year. The deferred tax asset is recognized for MAT credit available only to the extent that it is probable that the concerned company will pay normal income tax during the specified period, i.e., the period for which MAT credit is allowed to be carried forward, and MAT Credit asset can be recovered. In the year in which the company recognizes MAT credit as an asset, it is created by way of credit to the statement of profit and loss and shown as part of deferred tax asset. The company reviews the “MAT credit entitlement” asset at each reporting date and writes down the asset to the extent that it is no longer probable that it will pay normal tax during the specified period.

 

Income tax assets and liabilities are off-set against each other and the resultant net amount is presented in the balance sheet, if and only when, (a) the Group currently has a legally enforceable right to set-off the current income tax assets and liabilities, and (b) when it relates to income tax levied by the same taxation authority and where there is an intention to settle the current income tax balances on net basis.

 
Property, plant and equipment (‘PPE’)

Property, plant and equipment (‘PPE’)

 

Property, plant and equipment are stated at cost, net of accumulated depreciation and accumulated impairment losses, if any. All repair and maintenance costs are recognized in the statement of profit or loss as incurred.

 

An item of property, plant and equipment and any significant part initially recognized is derecognized upon disposal or when no future economic benefits are expected from its use or disposal. Any gain or loss arising on de-recognition of the asset (calculated as the difference between the net disposal proceeds and the carrying amount of the asset) is included in profit or loss when the asset is derecognized.

 

Depreciation on PPE is calculated on a straight-line basis using the rates arrived at based on the useful lives estimated by the management. The Group has used the following useful lives to provide depreciation on its PPE.

 

  Particulars   Years
  Computers and peripherals   3
  Office equipment   5
  Furniture and fixtures    
  Leasehold improvements   Amortized over the lower of primary lease period or economic useful life, whichever is less
  Vehicles  3 – 7 years
  Building  60 years

 

Leasehold improvements are amortized over the lower of primary lease period or economic useful life.

 

The residual values, useful lives and methods of depreciation of property, plant and equipment are reviewed at each financial year end and adjusted prospectively, if appropriate.

 
Intangible assets

Intangible assets

 

Intangible assets acquired separately are measured on initial recognition at cost. The cost of intangible assets acquired in a business combination is their fair value at the date of acquisition. Following initial recognition, intangible assets are carried at cost less any accumulated amortization (calculated on a straight-line basis over their useful lives) and accumulated impairment losses, if any.

 

Research and development costs

 

Research costs are expensed as incurred. Development expenditures on an individual project are recognized as an intangible asset when the Group can demonstrate:

 

● The technical feasibility of completing the intangible asset so that the asset will be available for use or sale
● Its intention to complete and its ability and intention to use or sell the asset
● How the asset will generate future economic benefits
● The availability of resources to complete the asset
● The ability to measure reliably the expenditure during development

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)

 

Following initial recognition of the development expenditure as an asset, the asset is carried at cost less any accumulated amortization and accumulated impairment losses, if any. Amortization of the asset begins when development is complete and the asset is available for use. It is amortized over the period of expected future benefit in profit or loss. During the period of development, the asset is tested for impairment annually.

 

Internally generated intangibles, excluding capitalized development costs, are not capitalized. Instead, the related expenditure is recognized in profit or loss in the period in which the expenditure is incurred.

 

Intangible assets with finite life are amortized over the useful economic life on straight line basis and assessed for impairment whenever there is an indication that the intangible asset may be impaired. The amortization period and the amortization method for an intangible asset is reviewed at least at the end of each reporting period. Changes in the expected useful life or the expected pattern of consumption of future economic benefits embodied in the asset are considered to modify the amortization period or method, as appropriate, and are treated as changes in accounting estimates. The amortization expense on intangible assets is recognized in profit or loss.

 

Intangible assets are amortized as below:

 

Intellectual property rights 3 years
Computer software and websites 3 to 5 years
Supplier relationship 15 years
Trademarks 15 years
Customer relationships 10-15 years

 
Leases

Leases

 

The Group 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.

 

Group as a lessee

 

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

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)

 

Right-of-use assets

 

The Group 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 accumulated impairment losses, and adjusted for any remeasurement of lease liabilities. The cost of right-of-use assets includes the amount of lease liabilities recognized, initial direct costs incurred, 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, as follows:

 

●Buildings 3 to 9 years
●Others 3 to 5 years

 

If ownership of the leased asset transfers to the Group 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. Refer “Impairment of non-financial assets” policy.

 

Lease liabilities

 

At the commencement date of the lease, the Group 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 Group and payments of penalties for terminating the lease, if the lease term reflects the Group exercising the option to terminate. Variable lease payments that do not depend on an index or a rate are recognized as expenses (unless they are incurred to produce inventories) in the period in which the event or condition that triggers the payment occurs.

 

In calculating the present value of lease payments, the Group 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.

 

Short-term leases and leases of low-value assets

 

The Group applies the short-term lease recognition exemption to its short-term leases of building (i.e., those leases that have a lease term of 12 months or less from the commencement date and do not contain a purchase option). It also applies the lease of low-value assets recognition exemption to leases of office equipment that are considered to be low value. Lease payments on short-term leases and leases of low-value assets are recognised as expense on a straight-line basis over the lease term.

 

Refer to Note 42 for disclosures on leases.

 
Financial instruments

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.

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)

 

(i) Financial assets

 

Initial recognition and measurement

 

Financial assets are classified, at initial recognition, as subsequently measured at amortized cost, at fair value through other comprehensive income (OCI), and fair value through profit or loss.

 

The classification of financial assets at initial recognition depends on the financial asset’s contractual cash flow characteristics and the Group’s business model for managing them. With the exception of trade receivables that do not contain a significant financing component or for which the Group has applied the practical expedient, the Group initially measures a financial asset at its fair value plus, in the case of a financial asset not measured at fair value through profit or loss, transaction costs. Trade receivables that do not contain a significant financing component or for which the Group has applied the practical expedient are measured at the transaction price determined as per IFRS 15.

 

Subsequent measurement

 

For purposes of subsequent measurement, financial assets are classified in four categories:

 

  ● Financial assets at amortized cost (debt instruments)
  ● Financial assets at fair value through OCI with recycling of cumulative gains and losses (debt instruments)
  ● Financial assets designated at fair value through OCI with no recycling of cumulative gains and losses upon derecognition (equity instruments)
  ●

Financial assets at fair value through profit or loss

 

Financial assets at amortized cost (debt instruments)

 

The Group measures financial assets at amortized cost if both of the following conditions are met:

 

  ● The financial asset is held within a business model with the objective to hold financial assets in order to collect contractual cash flows, and
     
  ● 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

 

Financial assets at amortized cost are subsequently measured using the effective interest rate (EIR) method and are subject to impairment. Gains and losses are recognized in profit or loss when the asset is derecognized, modified or impaired.

 

The Group’s financial assets at amortized cost includes cash and cash equivalents, trade receivables, cash and cash equivalents, term deposits, security deposits and employee loans. For more information on receivables, refer to Note 26. The Group does not have material financial assets classified under other categories.

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)

 

Derecognition

 

A financial asset (or, where applicable, a part of a financial asset or part of a group of similar financial assets) is primarily derecognized (i.e., removed from the Group’s consolidated statement of financial position) when:

 

  ● The rights to receive cash flows from the asset have expired

 

Or

 

●The Group has transferred its rights to receive cash flows from the asset or has assumed an obligation to pay the received cash flows in full without material delay to a third party under a ‘pass-through’ arrangement; and either (a) the Group has transferred substantially all the risks and rewards of the asset, or (b) the Group has neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred control of the asset.

 

When the Group has transferred its rights to receive cash flows from an asset or has entered into a pass-through arrangement, it evaluates if, and to what extent, it has retained the risks and rewards of ownership.

 

When the Group has transferred its rights to receive cash flows from an asset or has entered into a pass- through arrangement, it evaluates if, and to what extent, it has retained the risks and rewards of ownership. When it has neither transferred nor retained substantially all of the risks and rewards of the asset, nor transferred control of the asset, the Group continues to recognize the transferred asset to the extent of its continuing involvement. In that case, the Group also recognises an associated liability. The transferred asset and the associated liability are measured on a basis that reflects the rights and obligations that the Group has retained.

 

Impairment of financial assets

 

The Group recognized an allowance for expected credit losses (ECLs) for all financial assets which are debts instruments and not held at fair value through profit or loss. ECLs are based on the difference between the contractual cash flows due in accordance with the contract and all the cash flows that the Group expects to receive, discounted at an approximation of the original effective interest rate. The expected cash flows will include cash flows from the sale of collateral held or other credit enhancements that are integral to the contractual terms.

 

ECLs are recognized in two stages. For credit exposures for which there has not been a significant increase in credit risk since initial recognition, ECLs are provided for credit losses that result from default events that are possible within the next 12-months (a 12-month ECL). For those credit exposures for which there has been a significant increase in credit risk since initial recognition, a loss allowance is required for credit losses expected over the remaining life of the exposure, irrespective of the timing of the default (a lifetime ECL).

 

For trade receivables and contract assets, the Group applies a simplified approach in calculating ECLs. Therefore, the Group does not track changes in credit risk, but instead recognizes a loss allowance based on lifetime ECLs at each reporting date. The Group has established a provision matrix that is based on its historical credit loss experience, adjusted for forward-looking factors specific to the debtors and the economic environment.

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)

 

ii) Financial liabilities

 

Initial recognition and measurement

 

Financial liabilities are classified, at initial recognition, as financial liabilities at fair value through profit or loss, loans and borrowings or payables, as appropriate. All financial liabilities are recognized initially at fair value and, in the case of loans and borrowings and payables, net of directly attributable transaction costs.

 

The Group’s financial liabilities include trade and other payables, interest-bearing borrowings including bank overdrafts.

 

Subsequent measurement

 

The measurement of financial liabilities depends on their classification, as described below:

 

Financial liabilities at fair value through profit or loss

 

Financial liabilities at fair value through profit or loss include share warrants for which gain or loss is routed through profit or loss.

 

Loans and borrowing

 

After initial recognition, interest-bearing loans and borrowings are subsequently measured at amortized cost using the EIR method. The EIR amortization is included as finance costs in profit or loss. This category applies to interest- bearing borrowings, trade and other payables.

 

Derecognition

 

A financial liability is derecognized when the obligation under the liability is discharged or cancelled or expires. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the derecognition of the original liability and the recognition of a new liability. The difference in the respective carrying amounts is recognized in the statement of profit or loss.

 

Offsetting of financial instruments

 

Financial assets and financial liabilities are offset and the net amount is reported in the consolidated statement of financial position if there is a currently enforceable legal right to offset the recognized amounts and there is an intention to settle on a net basis, to realize the assets and settle the liabilities simultaneously.

 

Fair value measurement

 

The Group measures financial instruments, at fair value such as warrants etc. at each balance sheet date. The Group also discloses fair value of financial instruments and certain other assets and liabilities in notes.

 

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 measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either:

 

● In the principal market for the asset or liability, Or

 

● In the absence of a principal market, in the most advantageous market for the asset or liability

 

The principal or the most advantageous market must be accessible by the Group.

 

The Group uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximising the use of relevant observable inputs and minimising the use of unobservable inputs.

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)

 

Fair-value related disclosures for financial instruments that are measured at fair value or where fair values are disclosed, are summarised in the note no 7.

 
Treasury shares

Treasury shares

 

Own equity instruments that are reacquired (treasury shares) are recognized at cost and deducted from equity. No gain or loss is recognized in profit or loss on the purchase, sale, issue or cancellation of the Group’s own equity instruments. Any difference between the carrying amount and the consideration, if reissued, is recognized in the share premium.

 
Cash and cash equivalents

Cash and cash equivalents

 

Cash and short-term deposits in the statement of financial position comprise cash at banks, payment gateways and on hand and short-term deposits with a maturity of three months or less, which are subject to an insignificant risk of changes in value.

 

For the purpose of the consolidated statement of cash flows, cash and cash equivalents consist of cash and short-term deposits, as defined above, net of outstanding bank overdrafts as they are considered an integral part of the Group’s cash management.

 
Inventories

Inventories

 

Inventories are valued at the lower of cost and net realizable value. Cost is determined on FIFO (First in First out) basis and net realizable value is the estimated selling price in the ordinary course of business, less estimated costs necessary to make the sale. Inventories include tickets for amusement parks and attractions.

 
Borrowing cost

Borrowing cost

 

Borrowing cost includes interest and amortization of ancillary costs incurred in connection with the arrangement of borrowings.

 

Borrowing costs directly attributable to the acquisition, construction or production of an asset that necessarily takes a substantial period of time to get ready for its intended use or sale are capitalized as part of the cost of the respective asset. All other borrowing costs are expensed in the period they occur.

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)

 
Impairment of non-financial assets

Impairment of non-financial assets

 

Assets that have an indefinite useful life and goodwill are not subject to amortization and are tested at least annually or when there are indicators that an asset may be impaired, for impairment. Assets that are subject to depreciation and amortization are reviewed for impairment, whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. Such circumstances include, though are not limited to, significant or sustained decline in revenues or earnings and material adverse changes in the economic environment.

 

Impairment test for goodwill is performed at the level of each CGU or groups of CGUs expected to benefit from acquisition-related synergies and represent the lowest level within the entity at which the goodwill is monitored for internal management purposes and which is not higher than the Group’s operating segment.

 

An impairment loss is recognized whenever the carrying amount of an asset or its cash-generating unit exceeds its recoverable amount. The recoverable amount of an asset is the greater of its fair value less costs to sell and value in use. To calculate value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market rates and the risks specific to the asset. For an asset that does not generate largely independent cash inflows, the recoverable amount is determined for the cash-generating unit to which the asset belongs. Fair value less costs to sell is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants, less the costs of disposal. Impairment losses, if any, are recognized in profit or loss as a component of depreciation and amortization expense.

 
Provisions

Provisions

 

Provisions are recognized when the Group has a present obligation (legal or constructive), as a result of a past event, that 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. The expense relating to any provision is presented in profit or loss.

 

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.

 

These estimates are reviewed at each reporting date and adjusted to reflect the current best estimates.

 

Where the Group expects some or all of a provision to be reimbursed, the reimbursement is recognized as a separate asset but only when the reimbursement is virtually certain. The expense relating to any provision is presented in the consolidated statement of Profit and Loss net of any reimbursement.

 
Contingent liabilities

Contingent liabilities

 

Disclosure for a contingent liability is made when there is a possible obligation or a present obligation that may, but probably will not, require an outflow of resources. When there is a possible obligation or a present obligation in respect of which the likelihood of outflow of resources is remote, no provision or disclosure is made. A contingent liability also arises in extremely rare cases where there is a liability that cannot be recognized because it cannot be measured reliably.

 
Employment benefit plan

Employment benefit plan

 

The Group’s post-employment benefits include defined benefits plan and defined contribution plans. The Group also provides other benefits in the form of deferred compensation and compensated absences.

 

Under the defined benefit retirement plan, the Group provides benefit in the form of Gratuity under the Payment of Gratuity Act 1972 (India). Under the plan, a lump sum payment is made to eligible employees at retirement or termination of employment based on respective employee’s salary and years of service with the Group.

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)

 

For defined benefit retirement plans, the difference between the fair value of the plan assets and the present value of the plan liabilities is recognized as an asset or liability in the statement of financial position. Scheme liabilities are calculated using the projected unit credit method and applying the principal actuarial assumptions as at the date of statement of financial position. Plan assets are assets that are qualifying insurance policies.

 

All expenses, excluding remeasurements of the net defined benefit liability (asset), in respect of defined benefit plans are recognized in profit or loss as incurred. Remeasurement, comprising actuarial gains and losses and the return on the plan assets (excluding amounts included in net interest on the net defined benefit liability (asset)), are recognized immediately in the statement of financial position with a corresponding debit or credit to retained earnings through OCI (Other comprehensive income) in the period in which they occurred. The remeasurements are not re-classified to profit or loss in subsequent years.

 

The Group’s contribution to defined contribution plans are recognized in profit or loss as and when the services are rendered by employees. The Group has no further obligations under these plans beyond its periodic contributions.

 

The employees of the Group are entitled to compensated absences. The employees can carry forward up to the specified portion of the unutilized accumulated compensated absences and utilize it in future periods or receive cash at retirement or termination of employment. The Group records an obligation for compensated absences in the period in which the employee renders the services that increases this entitlement. The Group measures the expected cost of compensated absences as the additional amount that the Group expects to pay as a result of the unused entitlement that has accumulated at the end of the reporting period. The Group recognizes accumulated compensated absences based on actuarial valuation. Any actuarial gains or losses are recognized in OCI (Other comprehensive income) in the period in which they arise. Non-accumulating compensated absences are recognized in the period in which the absences occur.

 
Share-based payments / Restricted stock units (RSUs)

Share-based payments / Restricted stock units (RSUs)

 

Employees (including senior executives) of the Group receive part of their remuneration in the form of share-based payments, whereby employees render services as consideration for equity instruments (equity-settled transactions).

 

The cost of equity-settled transactions is determined at the fair value at the date when the grant is made using Black- Scholes valuation model, further details of which are given in Note 30.

 

That cost is recognized in employee benefits expense, together with a corresponding increase in equity (other capital reserves), over the period in which the service conditions and, where applicable, the performance conditions are fulfilled (the vesting period). The cumulative expense recognized for equity-settled transactions at each reporting date until the vesting date reflects the extent to which the vesting period has expired and the Group’s best estimate of the number of equity instruments that will ultimately vest. The expense or credit in profit or loss for a period represents the movement in cumulative expense recognized as at the beginning and end of that period.

 

Service conditions and performance conditions, if any, are not taken into account when determining the grant date fair value of awards, but the likelihood of the conditions being met is assessed as part of the Group’s best estimate of the number of equity instruments that will ultimately vest.

 

No expense is recognized for awards that do not ultimately vest because service conditions have not been met.

 
Earnings (loss) per share

Earnings (loss) per share

 

The Group’s Earnings (Loss) per Share (‘EPS’) is determined based on the net profit/(loss) attributable to the shareholders’ of the parent company. Basic EPS is computed using the weighted average number of shares outstanding during the year.

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)

 

Diluted EPS is computed using the weighted average number of common and dilutive common equivalent shares outstanding during the year including, share options and warrants (using the treasury stock method for options and warrants), except where the result would be anti-dilutive.

 

If the number of ordinary or potential ordinary shares outstanding increase as a result of a capitalization, bonus issue or share split, or decrease as a result of a reverse share split, the calculation of basic and diluted earnings per share for all periods presented is adjusted respectively, further details of which are given in Note 18.

 
v3.25.2
Material accounting policies (Tables)
 12 Months Ended
Mar. 31, 2025
Material Accounting Policies  
Schedule of useful lives of property, plant and equipment

Depreciation on PPE is calculated on a straight-line basis using the rates arrived at based on the useful lives estimated by the management. The Group has used the following useful lives to provide depreciation on its PPE.

 

  Particulars   Years
  Computers and peripherals   3
  Office equipment   5
  Furniture and fixtures    
  Leasehold improvements   Amortized over the lower of primary lease period or economic useful life, whichever is less
  Vehicles  3 – 7 years
  Building  60 years
Schedule of useful lives of intangible assets

Intangible assets are amortized as below:

 

Intellectual property rights 3 years
Computer software and websites 3 to 5 years
Supplier relationship 15 years
Trademarks 15 years
Customer relationships 10-15 years
v3.25.2
Segment information (Tables)
 12 Months Ended
Mar. 31, 2025
Segment Information  
Summary of information about reportable segments

Information about Reportable Segments:

 

Particulars  2023   2024   2025   2023   2024   2025   2023   2024   2025          
   Reportable segments             
   Air Ticketing   Hotels and Packages   Other Services   Total 
   March 31   March 31   March 31   March 31 
Particulars  2023   2024   2025   2023   2024   2025   2023   2024   2025   2023   2024   2025 
                                                 
Revenue as per IFRS - Rendering of services*   1,779,972    1,729,305    1,925,254    1,471,270    1,693,962    5,138,044    154,305    160,531    320,165    3,405,548    3,583,798    7,383,464 
Customer inducement and acquisition costs   2,555,320    2,773,118    1,662,928    263,756    312,206    350,741    23,380    18,544    15,858    2,842,456    3,103,868    2,029,527 
Service cost   -    -    -    (669,098)   (866,039)   (4,016,080)   -    -    (22,966)   (669,098)   (866,039)   (4,039,046)
Adjusted Margin   4,335,292    4,502,423    3,588,182    1,065,927    1,140,129    1,472,706    177,685    179,075    313,057    5,578,906    5,821,627    5,373,945 
                                                             
Other revenue #                                                421,717    606,099    571,058 
Other income                                                152,520    102,362    108,957 
Customer inducement and acquisition costs (recorded as a reduction of revenue)                                                (2,842,455)   (3,103,868)   (2,029,527)
Personnel expenses                                                (1,148,434)   (1,348,215)   (1,596,258)
Marketing and sales promotion expenses                                                (336,472)   (459,935)   (430,106)
Other operating expenses                                                (1,554,963)   (1,579,352)   (1,779,465)
Finance cost                                                (326,399)   (286,998)   (106,877)
Depreciation and amortization                                                (190,152)   (197,527)   (308,899)
Finance income                                                28,944    170,714    207,824 
Listing and related expenses                                                (23,591)   (54,238)   - 
Impairment of loan to joint venture                                                (1,000)   -    - 
(Loss)/ Profit before taxes                                                (241,380)   (329,331)   10,652 
Tax (expense)/ benefit                                                (46,788)   (37,174)   12,849 
(Loss) / Profit for the year                                                (288,168)   (366,505)   23,501 

 

*There were no inter-segment revenue during the year ended March 31, 2023, March 31, 2024 and March 31, 2025. This amount constitutes of ‘revenue from external customer only.

 

#Other revenue primarily comprises the advertisement income from hosting advertisements on our internet web-sites, income from sale of coupons and vouchers and income from facilitating website access to travel insurance companies. The operations do not meet any of the quantitative thresholds to be a reportable segment for any of the periods presented in these consolidated financial statements.
Schedule of reconciliation of reportable segments

Reconciliation of Reportable Segments Revenue to the Group’s Total Revenue:

 

             
   Total 
   March 31 
Particulars  2023   2024   2025 
Revenue as per IFRS - Rendering of services   3,405,548    3,583,798    7,383,464 
Other Revenue   421,717    606,099    571,058 
Total Revenue   3,827,265    4,189,897    7,954,522 
Summary of non-current assets by physical location

Non-current assets are disclosed based on respective physical location of the assets

 

   Non current assets* 
   March 31, 2024   March 31, 2025 
         
India   1,147,306    2,664,836 
Others   -    - 
Total   1,147,306    2,664,836 

 

*Non-current assets presented above represent property, plant and equipment, right-of-use assets and intangible assets and goodwill.
v3.25.2
Group information (Tables)
 12 Months Ended
Mar. 31, 2025
Group Information  
Schedule of interest in subsidiaries

Information about group subsidiaries

 

         % Equity interest 
Name  Principal activities  Country of incorporation 

March 31,

2024

  

March 31,

2025

 
THCL Travel Holding Cyprus Limited  Investment Company  Cyprus   100    100 
Yatra USA Corp  Investment Company  USA   100**   100**
Yatra USA, LLC  Travel & Travel related services  USA   100    100 
Asia Consolidated DMC Pte. Ltd.  Travel & Travel related services  Singapore   100    100 
Middle East Travel Management Company Private Limited  Travel & Travel related services  India   100    100 
Yatra Online Limited  Travel & Travel related services  India   64.46*   64.46*
Yatra Corporate Hotel Solutions Private Limited  Travel & Travel related services  India   64.46#   64.46#
TSI Yatra Private Limited  Travel & Travel related services  India   64.46#   64.46#
Yatra TG Stays Private Limited  Travel & Travel related services  India   64.46#   64.46#
Yatra Hotel Solutions Private Limited  Travel & Travel related services  India   64.46#   64.46#
Yatra for Business Private Limited  Travel & Travel related services  India   64.46#   64.46#
Travel.Co.In Private Limited  Travel & Travel related services  India   64.46#   64.46#
Yatra Online Freight Services Private Limited  Freight forwarding services  India   64.46#   64.46#
Yatra Middle East L.L.C-FZ  Computer programming, consultancy and related activities, arranging and assembling tours and forwarding of freight  United Arab Emirates   64.46***   64.46***
Yatra MICE and Holidays Limited (formerly known as Adventure & Nature Network Private Limited)  Travel & Travel related services  India   -    63.82****
Globe All India Services Limited  Travel & Travel related services  India   -    64.46*

 

*Remaining shares of 35.54% (March 31, 2024: 35.54%) are held by the public and institutional shareholder (non-controlling shareholder) as at March 31, 2025. Refer to note 29.

 

**Includes 18.63% (March 31, 2024: 18.63%) Class F Shares owned by Terrapin 3’s founder stockholders having no voting right. Terrapin 3’s founder stockholders also own Class F Shares in the Company having no economic value and have an exchange right to acquire Ordinary Shares of the Company.

 

***On February 9, 2023, Yatra Middle East L.L.C.-FZ was incorporated in Dubai, United Arab Emirates with principal activity of Computer programming, consultancy and related activities, arranging and assembling tours and forwarding of freight. Yatra Online, Inc. (the “Company”), through its subsidiary, Yatra Online Limited holds all of the outstanding shares of Yatra Middle East L.L.C.-FZ.

 

Remaining shares of 35.54% (March 31, 2024: 35.54%) are held indirectly by the non-controlling shareholder as at March 31, 2025 through Yatra Online Limited.

 

****Remaining shares of 36.18% are held are held indirectly by the non-controlling shareholder as at March 31, 2025 through Yatra Online Limited.

 

#Remaining shares of 35.54% (March 31, 2024: 35.54%) are held indirectly by the non-controlling shareholder as at March 31, 2025 through Yatra Online Limited.

Schedule of noncontrolling interests consolidated financial information

Details of subsidiaries that have material non-controlling interests

 

The non-controlling interests that are material to the Group primarily relates to Yatra Online Limited (Indian subsidiary and its step-down subsidiaries) as at and for the year ended March 31, 2025.

 

The table below shows summarized consolidated financial information of Yatra Online Limited, before intercompany eliminations:

 

(i) Consolidated statement of financial position

              
   As at March 31 
   2024   2025   2025 
   INR   INR   USD 
Non- current assets   1,526,239    2,982,968    34,916 
Current assets   10,538,735    10,086,815    118,071 
Non- current liabilities   339,769    415,344    4,862 
Current liabilities   4,454,016    4,979,925    58,292 
Total equity   7,271,189    7,674,514    89,833 

 

Attributable to:            
Non – controlling interest   2,371,802    2,501,141    29,277 
Equity attributable to equity holders of the parent   4,899,387    5,173,373    60,556 

 

(ii) Consolidated statement of profit or loss and other comprehensive income or loss

 

                  
   For the year ended March 31 
   2023   2024   2025   2025 
   INR   INR   INR   USD 
                 
Revenue   3,801,597    4,186,676    7,950,976    93,070 
Other income   144,954    102,294    113,653    1,330 
Expenses   (3,595,026)   (4,195,487)   (7,779,148)   (91,059)
Finance income   28,760    157,132    203,964    2,388 
Finance cost   (234,097)   (245,957)   (101,256)   (1,185)
Listing and related expenses   (23,591)   (54,238)   -    - 
Tax expense   (45,697)   (32,514)   14,472    169 
Profit/ Loss) for the year   76,900    (82,094)   402,661    4,713 
Other comprehensive income for the year, net of tax   (10,458)   (5,958)   (3,058)   (36)
Total comprehensive income / (loss) for the year, net of tax   66,442    (88,052)   399,603    4,677 
                     
(Loss)/ Profit for the year attributable to:                    
Non-controlling interests   1,084    (29,175)   130,426    1527 
Equity holders of the parent   75,816    (52,919)   272,236    3,187 
                     
Total comprehensive income / (loss) attributable to:                    
Non-controlling interests   937    (31,293)   129,344    1,514 
Equity holders of the parent   65,505    (56,759)   270,259    3,164 

 

(iii) Consolidated statement of cash flows

 

                      
      For the year ended March 31 
      2023  2024   2025   2025 
      INR  INR   INR   USD 
Net cash used in operating activities     (1,530,819 )   (1,424,478)   (886,480)   (10,377)
Net cash used in/ generated from investing activities     (166,655 )   (2,337,311)   936,981    10,968 
Net cash generated/ (used) in financing activities     1,384,190    4,663,085    (1,022,045)   (11,964)
Net increase/ (decrease) in cash and cash equivalents     (313,284 )   901,296    (971,544)   (11,373)

 

D.Change in interest without loss of control

 

Pursuant to Indian IPO of Yatra Online Limited (“Indian subsidiary”), non-controlling interest share has increased from 1.41% to 35.54%. Following is a schedule of change in interest without loss of control:

 

For the year ended March 31, 2024

 

     
Cash consideration received from non-controlling shareholders*   7,688,896 
Less: Proportionate interest of non-controlling shareholder in net asset of Indian subsidiary   2,656,614 
Difference recognized in Non-controlling interest reserve within equity   5,032,282 

 

*disclosed as “Change in non-controlling interest” under financing activities in Consolidated Statement of Cash flow

 

Additional NCI measurement on the date of change in interest:
 

     
Proportionate interest of non-controlling shareholder in net asset of Indian subsidiary   2,656,614 
Less: Transaction costs attributed to NCI   278,757 
Amount recognized as NCI   2,377,857 
v3.25.2
Fair value measurement (Tables)
 12 Months Ended
Mar. 31, 2025
Fair Value Measurement  
Schedule of comparison by class of carrying amount and fair value of the group's financial instruments

 

   Carrying value   Fair value 
   As at March 31,   As at March 31,   As at March 31,   As at March 31, 
   2024   2025   2024   2025 
Financial assets                    
Assets carried at amortized cost                    
Trade and other receivables   4,637,243    5,568,241    4,637,243    5,568,241 
Cash and cash equivalents   1,741,950    605,802    1,741,950    605,802 
Term deposits   2,757,824    1,354,170    2,757,824    1,300,155 
Other financial assets   167,297    155,436    167,297    155,436 
Total   9,304,314    7,683,649    9,304,314    7,683,649 
                     
Financial liabilities                    
Liabilities carried at amortized cost                    
Trade and other payables   2,608,087    2,953,069    2,608,087    2,953,069 
Borrowings   638,192    545,864    638,192    545,864 
Other liabilities   418,969    93,924    418,969    93,924 
Lease liabilities   215,742    238,149    215,742    238,149 
Total   3,880,990    3,831,006    3,880,990    3,831,006 
Schedule of financial instruments by fair value hierarchy

       March 31, 2024 
   Carrying value   Level 1   Level 2   Level 3   Total 
Assets carried at amortized cost and for which fair value is disclosed                         
Term deposits   2,757,824    -    2,757,824    -    2,757,824 
Other financial assets   167,297    -    167,297    -    167,297 
Total assets   2,925,121    -    2,925,121    -    2,925,121 
Liabilities carried at amortized cost and for which fair value is disclosed                         
Borrowings   638,192    -    638,192    -    638,192 
Other liabilities   418,969    -    418,969    -    418,969 
Total Liabilities   1,057,161    -    1,057,161    -    1,057,161 

 

       March 31, 2025 
   Carrying value   Level 1   Level 2   Level 3   Total 
Assets carried at amortized cost and for which fair value is disclosed                         
Term deposits   1,354,170    -    1354,170    -    1,354,170 
Other financial assets   155,436    -    155,436    -    155,436 
Total assets   1,509,606    -    1,509,606    -    1,509,606 
                          
Liabilities carried at amortized cost and for which fair value is disclosed                         
Borrowings   545,864    -    545,864    -    545,864 
Lease liabilities   238,149    -    238,149    -    238,149 
Total Liabilities   784,013    -    784,013    -    784,013 
Schedule of valuation techniques and significant unobservable inputs

The following tables show the valuation techniques used in measuring fair values at March 31, 2024 and March 31, 2025 as well as the inputs used.

 

Type   Valuation technique   Inputs used  

Financial Instruments for which fair value is disclosed:

          
           
Borrowings   Discounted cash flows   Prevailing interest rate in market, future payouts.  
           
Term deposits   Discounted cash flows   Prevailing interest rate in market, cash flows.  
           
Other financial assets   Discounted cash flows   Prevailing interest rate in market, cash flows.  
           
Other liabilities   Discounted cash flows   Prevailing interest rate in market, cash flows.  
v3.25.2
Rendering of services (Tables)
 12 Months Ended
Mar. 31, 2025
Rendering Of Services  
Schedule of revenue by product type and customer type

Revenue by Product types

 

             
   March 31, 
   2023   2024   2025 
Air Ticketing   1,779,972    1,729,305    1,925,254 
Hotels and Packages   1,471,270    1,693,962    5,138,044 
Other Services   154,306    160,531    320,166 
 Rendering of services   3,405,548    3,583,798    7,383,464 
Schedule of contract assets

   March 31, 
   2024   2025 
Contract Assets   -    - 
Schedule changes in contract assets

Changes in contract assets are as follows:

  

         
   March 31, 
   2024   2025 
Balance at the beginning of the year   190,598    - 
Revenue recognized during the year#   -    - 
Billed during the year   (190,598)   - 
Balance at the end of the year   -    - 

 

#Refer to Note 8.1 above for details about contract assets for the year ended March 31, 2024.
Schedule of contract liabilities

  

   March 31, 
   2024   2025 
Advance from customer (refer to Note 37)   622,178    1,027,588 
Deferred revenue (refer to Note 35)   3,360    2,390 
Total Contract liabilities   625,538    1,029,978 
v3.25.2
Other revenue (Tables)
 12 Months Ended
Mar. 31, 2025
Other Revenue  
Schedule of other revenue

 

             
   March 31, 
   2023   2024   2025 
Marketing revenue   421,717    606,099    571,058 
Total   421,717    606,099    571,058 
v3.25.2
Other income (Tables)
 12 Months Ended
Mar. 31, 2025
Other Income  
Schedule of other income

 

             
   March 31, 
   2023   2024   2025 
Liability no longer required to be paid   140,693    100,492    106,571 
Gain on termination/rent concession of leases (Refer note 42)   1,811    -    619 
Gain on sale of property, plant and equipment (net)   3,800    705    770 
Miscellaneous income   6,216    1,165    997 
Total   152,520    102,362    108,957 
v3.25.2
Personnel expenses (Tables)
 12 Months Ended
Mar. 31, 2025
Personnel Expenses  
Schedule of personnel expenses

 

             
   March 31, 
   2023   2024   2025 
Salaries, wages and other short term employee benefits   907,523    1,020,823    1,346,103 
Contributions to defined contribution plans   47,321    54,683    63,661 
Expenses related to defined benefit plans (Refer note 34)   11,321    10,490    17,216 
Share based compensation costs (Refer note 30)   152,054    229,260    124,787 
Employee welfare expenses   30,215    32,959    44,491 
Total   1,148,434    1,348,215    1,596,258 
v3.25.2
Other operating expenses (Tables)
 12 Months Ended
Mar. 31, 2025
Other Operating Expenses  
Schedule of other operating expenses

             
   March 31, 
   2023   2024   2025 
Commission   315,137    360,877    304,932 
Communication   164,637    179,656    210,303 
Legal and professional fees   301,252    346,867    480,944 
Outsourcing fees   28,764    35,924    36,054 
Payment gateway and other charges   397,590    511,948    414,969 
Bad debts written-off and allowance for credit impaired receivables and other advances   154,607    (43,697)   84,415 
Duties and taxes   14,632    2,606    51,985 
Rent (Refer note 42)   1,832    3,646    10,968 
Repairs and maintenance   44,387    48,056    59,728 
Travelling and conveyance   32,126    41,200    38,868 
Insurance   76,170    55,637    48,139 
Corporate social responsibility (CSR) expense   -    -    4,998 
Miscellaneous expenses   23,829    36,632    33,162 
Total   1,554,963    1,579,352    1,779,465 
v3.25.2
Depreciation and amortization (Tables)
 12 Months Ended
Mar. 31, 2025
Depreciation and amortisation expense [abstract]  
Schedule of depreciation and amortization

             
   March 31, 
   2023   2024   2025 
Depreciation   14,307    20,336    40,771 
Amortization   119,196    122,920    206,682 
Depreciation on right of use assets   56,649    54,271    61,446 
Total   190,152    197,527    308,899 
v3.25.2
Investment in joint venture (Tables)
 12 Months Ended
Mar. 31, 2025
Investment In Joint Venture  
Schedule of financial position and profit or loss of ANN

Summarized statement of financial position of ANN:

 

   As at
March 31, 2024		   As at
June 18, 2024		 
Current Assets          
Cash and cash equivalents   1,582    2,872 
Other current financial assets   1,818    338 
Non-current liabilities          
Employee benefits   (246)   (151)
           
Current liabilities          
Borrowings   (63,500)   (109,043)
Trade and other payables   (12,474)   - 
Employee benefits   (197)   (209)
Other non-financial liability   (35,163)   (2,343)
           
Equity   (108,180)   (108,536)
Group’s carrying amount of the investment (50%)   (54,090)   (54,268)
True-up of carrying value to group share loss   54,090    54,268 
Net carrying amount of investment   -    - 
v3.25.2
Finance income (Tables)
 12 Months Ended
Mar. 31, 2025
Finance Income  
Schedule of finance income

 

             
   March 31, 
   2023   2024   2025 
Interest income on :               
- Bank deposits recognized at amortized cost   14,354    160,784    154,160 
- Others   3,521    6,528    49,263 
Foreign exchange gain (net)   7,655    -    - 
Unwinding of other financial assets   3,414    3,402    4,401 
Total   28,944    170,714    207,824 
v3.25.2
Finance cost (Tables)
 12 Months Ended
Mar. 31, 2025
Finance Cost  
Schedule of finance cost

 

             
   March 31, 
   2023   2024   2025 
Bank charges   78,091    25,120    26,044 
Foreign exchange loss (net)   -    20,790    3,876 
Interest on borrowings recognized at amortized cost   129,888    207,089    43,844 
Interest on lease liabilities (Refer note 42)   35,992    32,267    32,608 
Unwinding of other financial liabilities   51,878    -    - 
Others   30,550    1,732    505 
Total   326,399    286,998    106,877 
v3.25.2
Income taxes (Tables)
 12 Months Ended
Mar. 31, 2025
Income Taxes  
Schedule of loss before income taxes

 

A.Loss/ (Profit) for the year before income taxes are as follows:

 

Schedule of loss before income taxes    

   2023   2024   2025 
   March 31, 
   2023   2024   2025 
Domestic   (353,088)   (273,102)   (347,504)
Foreign operations   111,708    (56,229)   358,156 
Total   (241,380)   (329,331)   10,652 
Summary of components of income tax expense
B.The major components of income tax expense for the years ended March 31, 2023, March 31, 2024 and March 31, 2025 are:

 

Summary of components of income tax expense  

   2023   2024   2025 
   March 31, 
   2023   2024   2025 
Current year   52,046    39,045    11,636 
Adjustment related to previous year   -    -    (9,008)
Current income tax expenses   52,046    39,045    2,628 
                
Origination and reversal of temporary differences   (5,258)   (1,871)   (15,477)
Deferred tax expense   (5,258)   (1,871)   (15,477)
Total income tax expenses/ (benefit) as reported in statement of profit or loss   46,788    37,174    (12,849)

 
Reconciliation of tax expense and accounting profit multiplied by tax rate
C.Reconciliation of tax expense and accounting profit multiplied by tax rate of each jurisdiction in which the Group operates

 

Reconciliation of tax expense and accounting profit multiplied by tax rate 

   2023   2024   2025 
   March 31, 
   2023   2024   2025 
(Loss)/ Profit for the year   (288,168)   (366,505)   23,501 
Income tax expense/(reversal)   46,788    37,174    (12,849)
(Loss)/ Profit before income taxes*   (241,380)   (329,331)   10,652 
Expected tax expense at statutory income tax rate#   32,760    (165)   84,863 
Non-deductible expenses   19,074    17,026    1,138 
Utilization of previously unrecognized tax losses   (42,671)   (29,260)   (35,867)
Current year losses for which no deferred tax asset was recognized   36,761    83,574    (37,497)
Change in unrecognized temporary differences   209    (35,638)   (11,639)
Effect of change in tax rate   (1,908)   -    (5,726)
Others   2,563    1,637    (8,121)
Total income tax expense   46,788    37,174    (12,849)

 

*Refer to Note A above for breakup of loss before tax into domestic (Parent Company) and foreign operations (subsidiaries).

 

#The domicile of the Parent Company is Cayman Islands wherein the applicable tax rate is Nil (March 31, 2024: Nil, March 31, 2023: Nil)The Group’s two major tax jurisdictions are India and Singapore with tax rates ranging between 25.17% to 26.00% (March 31, 2024: 25.17% to 26.00% and March 31, 2023: 25.17% to 26.00%) in India and 17% (March 31, 2024: 17% and March 31, 2023: 17%) in Singapore, that have been applied to profit or loss of the respective jurisdiction for determination of expected tax expense.
v3.25.2
Loss per share (Tables)
 12 Months Ended
Mar. 31, 2025
Loss Per Share  
Summary of income and share data used in the basic and diluted loss per share computations

The following reflects the income and share data used in the basic loss per share computations:

 

 Summary of income and share data used in the basic and diluted loss per share computations 

   2023   2024   2025 
   March 31, 
   2023   2024   2025 
Loss attributable to ordinary shareholders - Basic   (289,243)   (350,943)   (106,925)
Weighted average number of ordinary shares outstanding used in computing basic loss per share   62,991,006    62,672,527    61,875,719 
Basic loss per share   (4.59)   (5.60)   (1.73)

 

The following reflects the income and share data used in the diluted loss per share computations:

 

   2023   2024   2025 
   March 31, 
   2023   2024   2025 
Loss attributable to ordinary shareholders-Dilutive   (289,243)   (350,943)   (106,925)
Weighted average number of ordinary shares outstanding used in computing diluted loss per share   62,991,006    62,672,527    61,875,719 
Diluted loss per share   (4.59)   (5.60)   (1.73)
v3.25.2
Property, plant and equipment (Tables)
 12 Months Ended
Mar. 31, 2025
Disclosure of detailed information about property, plant and equipment [abstract]  
Reconciliation of changes in property, plant and equipment

  

   Leasehold Improvements   Computer and Peripherals   Furniture and Fixtures   Vehicles   Office Equipment   Office Building   Total 
Gross block                                   
At April 1, 2023   228    318,321    2,480    71,595    25,212    -    417,836 
Additions   -    26,598    64    22,392    393    -    49,447 
Disposals/adjustment   -    (9,975)   -    (2,046)   (2)   -    (12,023)
Charge for the year   -    5,591    121    13,868    756    -    20,336 
Effects of movements in foreign exchange rates   -    -    -    -    -    -    - 
At March 31, 2024   228    334,944    2,544    91,941    25,603    -    455,260 
On account of business combination   -    3,197    909    47    846    41,036    46,035 
Additions   955    39,548    93    23,838    1,944    -    66,378 
Disposals/adjustment   -    (15,562)   -    (21,817)   (758)   -    (38,137)
Effects of movements in foreign exchange rates   -    -    -    -    -    -    - 
At March 31, 2025   1,183    362,127    3,546    94,009    27,635    41,036    529,536 
                                    
Depreciation                                   
At April 1, 2023   227    309,248    2,060    36,512    23,947    -    371,994 
Charge for the year   -    5,591    121    13,868    756    -    20,336 
Disposals/adjustment   -    (9,975)   -    (930)   -    -    (10,905)
Effects of movements in foreign exchange rates   -    -    -    -    -    -    - 
At March 31, 2024   227    304,864    2,181    49,450    24,703    -    381,425 
Charge for the year   53    21,096    205    18,124    926    367    40,771 
Disposals/adjustment   -    (15,527)   -    (13,188)   (769)   -    (29,484)
Effects of movements in foreign exchange rates   -    -    -    -    -    -    - 
At March 31, 2025   280    310,433    2,386    54,386    24,860    367    392,712 
                                    
Net block                                   
At March 31, 2024   1    30,080    363    42,491    900    -    73,835 
At March 31, 2025   903    51,694    1,160    39,623    2,775    40,669    136,824 
v3.25.2
Intangible assets and goodwill (Tables)
 12 Months Ended
Mar. 31, 2025
IfrsStatementLineItems [Line Items]  
Schedule of reconciliation of changes in intangible assets and goodwill, including gross, amortization, and net amounts

  

   Computer software and Websites   Intellectual property rights   Agent / Supplier/ relationship   Customer Relationship   Non compete agreement   Trademarks   Goodwill   Intangible under development       Total 
Gross block                                                  
At April 1, 2023   2,575,731    59,209    222,169    140,336    22,171    271,329    1,015,099    43,272         4,349,316 
Additions   219,301    -    -    -    -    -    -    254,465         473,766 
Disposals/adjustment   -    -    -    -    -    -    -    (216,391)   *     (216,391)
Effects of movements in foreign exchange rates   -    -    -    -    -    -    -    -         - 
At March 31, 2024   2,795,032    59,209    222,169    140,336    22,171    271,329    1,015,099    81,346         4,606,691 
Additions   253,191    -    -    -    -    -    -    264,384         517,575 
Disposals/adjustment   -    -    -    -    -    -    -    (248,888)   *     (248,888)
On account of business combination   2,529    -    138,030    189,586    -    315,870    723,529    -         1,369,544 
Effects of movements in foreign exchange rates   -    -    -    -    -    -    -    -         - 
At March 31, 2025   3,050,752    59,209    360,199    329,922    22,171    587,199    1,738,628    96,842         6,244,922 
                   -                               
Amortization and Impairment                                                  
At April 1, 2023   2,395,502    59,209    222,169    113,399    21,821    271,329    486,908    -         3,570,337 
Charge for the year   113,591    -    -    8,979    350    -    -    -         122,920 
Disposals   -    -    -    -    -    -    -    -         - 
Impairment of goodwill   -    -    -    -    -    -    -    -         - 
Effects of movements in foreign exchange rates   -    -    -    -    -    -    -    -         - 
At March 31, 2024   2,509,093    59,209    222,169    122,378    22,171    271,329    486,908    -         3,693,257 
Charge for the year   173,951    -    5,093    15,981    -    11,657    -    -         206,682 
Disposals   -    -    -    -    -    -    -    -         - 
Impairment of goodwill   -    -    -    -    -    -    -    -         - 
Effects of movements in foreign exchange rates   -    -    -    -    -    -    -    -         - 
At March 31, 2025   2,683,044    59,209    227,262    138,359    22,171    282,986    486,908    -         3,899,939 
                                                   
Net block                                                  
At March 31, 2024   285,939    -    -    17,958    -    -    528,191    81,346         913,434 
At March 31, 2025   367,708    -    132,937    191,563    -    304,213    1,251,720    96,842         2,344,983 

 

*Intangible assets capitalized during the year.
Schedule of carrying amount of goodwill

  

   2024   2025 
   March 31, 
   2024   2025 
TSI Yatra Private Limited   103,670    103,670 
Yatra TG Stays Private Limited & Yatra Hotel Solutions Private Limited   219,163    219,163 
Yatra for Business Private Limited   205,358    205,358 
Globe All India Services Limited (refer to Note 44)   -    723,529 
Total   528,191    1,251,720 
Schedule of valuation method of recoverable amount

Below table summarizes the valuation method used for determining recoverable amount of goodwill:

 

    March 31,
    2024   2025
TSI Yatra Private Limited   FVLCOD   Value in use
Yatra TG Stays Private Limited & Yatra Hotel Solutions Private Limited   Value in use   Value in use
Yatra for Business Private Limited   FVLCOD   Value in use
T G Stays Private Limitedand Yatra Hotel Solutions Private Limited [Member]  
IfrsStatementLineItems [Line Items]  
Summary of key assumptions used in calculations of value in use for CGUs

  

   As at   As at 
   March 31, 2024   March 31, 2025 
Pre -Tax Discount rate   24.05%   21.19%
Terminal Value growth rate   4.00%   5.00%
EBITDA margin over next 5 years (March 31, 2024 : 5 years)   22.54 % - 23.63%   19.0 % - 21.3 %
TSI Yatra Private Limited [member]  
IfrsStatementLineItems [Line Items]  
Summary of key assumptions used in calculations of value in use for CGUs

  

   As at 
   March 31, 2025 
Pre -Tax Discount rate   29.79%
Terminal Value growth rate   5.00%
EBITDA margin over next 5 years   20.4 % - 35.5 %
Schedule of EBITDA market multiple

  

   As at 
   March 31, 2024 
EBITDA Market Multiple   14.2 - 16.7 
Discount applied   10 % - 20 %
Yatra for business private limited [member]  
IfrsStatementLineItems [Line Items]  
Summary of key assumptions used in calculations of value in use for CGUs

 Summary of key assumptions used in calculations of value in use for CGUs

   As at 
   March 31, 2025 
Pre -Tax Discount rate   28.59%
Terminal Value growth rate   5.00%
EBITDA margin over next 5 years   10.1 % - 33.6 %
Schedule of EBITDA market multiple

  

   As at 
   March 31, 2024 
EBITDA Market Multiple   14.2- 16.7 
Discount applied   10 % - 20 %
v3.25.2
Prepayments and other assets (Tables)
 12 Months Ended
Mar. 31, 2025
Prepayments And Other Assets  
Schedule of current and non-current prepayments and other assets

Current  2024   2025 
   March 31, 
Current  2024   2025 
Advance to vendors (net of allowance)   1,298,798    1,827,433 
Advance to joint venture (net of allowance) (Refer note 41)   6,319    - 
Balance with statutory authorities   98,823    241,796 
Prepaid expenses   63,399    70,426 
Due from employees   8,328    23,801 
Others   12,194    - 
Total   1,487,861    2,163,456 
           
Non-current          
Prepaid expenses   755    610 
Total   755    610 
Schedule of changes in allowance for doubtful advances

The movement in the allowance for doubtful advances:

 

   March 31, 
   2024   2025 
Balance at the beginning of the year   59,612    69,637 
Provisions accrued during the year   10,025    5,097 
Amount written off during the year   -    (6,970)
Balance at the end of the year   69,637    67,764 
v3.25.2
Other financial assets, Non-current (Tables)
 12 Months Ended
Mar. 31, 2025
Other Financial Assets Non-current  
Schedule of other financial assets, Non-current

  Schedule of other financial assets, Non-current

   March 31, 
   2024   2025 
Security deposits   24,039    90,714 
Total   24,039    90,714 
v3.25.2
Term deposits (Tables)
 12 Months Ended
Mar. 31, 2025
Term Deposits  
Schedule of term deposits

 Schedule of term deposits

   2024   2025 
   March 31, 
   2024   2025 
Fixed deposits with banks   2,757,824    1,354,170 
Total   2,757,824    1,354,170 
Non-current   137,169    44,770 
Current   2,620,655    1,309,400 
Total   2,757,824    1,354,170 
v3.25.2
Other non financial assets (Tables)
 12 Months Ended
Mar. 31, 2025
Other Non Financial Assets  
Schedule of other non financial assets

 Schedule of other non financial assets

   2024   2025 
   March 31, 
   2024   2025 
Fair value adjustment - financial assets   1,481    976 
Restricted asset   206,074    167,907 
Total   207,555    168,883 
Non-current   207,555    168,883 
Total   207,555    168,883 
v3.25.2
Deferred Tax (Tables)
 12 Months Ended
Mar. 31, 2025
Deferred Tax  
Schedule of unrecognized deferred tax assets

Deferred tax assets have not been recognized in respect of the following items :

 

   As at March 31, 
Particulars  2024   2025 
Deductible temporary differences   282,544    276,775 
Tax loss carry forward and unabsorbed depreciation   2,271,015    2,168,730 
Total   2,553,559    2,445,505 
Schedule of recognized deferred tax assets

 Schedule of recognized deferred tax assets

   For the Year Ended March 31, 
   2024   2025 
Deferred tax assets are attributable to the following -          
Property, plant and equipment, intangible assets, and ROU assets   2,712    664 
Trade and other receivables   4,497    10,107 
Mat credit   -    266 
Employee benefits   1,888    9,132 
Unutilized business losses   -    - 
Provision for expenses   93    63 
Right-of-use assets   (161)   (11,293)
Lease liabilities   210    11,597 
Deferred tax asset   9,239    20,536 
Remeasurement loss in defined benefit plan   1,693    1,983 
Total deferred tax asset (A)   10,932    22,519 
Deferred tax liabilities are attributable to the following -          
Property, plant and equipment, intangible assets, and ROU assets   (4,669)   (142,468)
Total deferred tax liability (B)   (4,669)   (142,468)
           
Net deferred tax asset (A-B)   6,263    (119,949)
Schedule of changes in deferred tax assets

 

                        
Particulars 

Balance as on April 01, 2024

   Deferred tax asset acquired on business combination*   On account of business combination  

Recognized in profit or loss

  

Recognized in other comprehensive income

  

Balance as on March, 31 2025

Property, plant and equipment, and intangible assets   (1,957)   -    (146,306)   6,459    -   (141,804)
Right-of-use assets   (161)   -    -    (11,132)   -   (11,293)
Lease liabilities   210    -    -    11,387    -   11,597
Trade and other receivables   4,497    -    -    5,610    -   10,107
Employee benefit   1,888    4,327    -    2,917    -   9,132
Provision for expenses   93    -    -    (30)   -   63
Remeasurement loss on defined benefit plan   1,693    -    -    -    290   1,983
Mat credit   -    -    -    266        266
Deferred tax assets   6,263    4,327    (146,306)   15,477    290   (119,949)

 

*Deferred tax asset acquired on account of acquisition of Globe All India Services Limited on September 10, 2024

 

  Deferred tax assets, Beginning balance   Recognised in profit or loss   Recognised in other comprehensive income   Deferred tax assets, Ending balance 
Particulars 

Balance as on

April 01, 2023

  

Recognized in

profit or loss

  

Recognized in other comprehensive

income

  

Balance as on

March 31, 2024

 
Property, plant and equipment, and intangible assets   (4,009)   2,052    -    (1,957)
Right-of-use assets   (279)   118         (161)
Lease liabilities   385    (175)        210 
Trade and other receivables   4,047    450    -    4,497 
Employee benefit   2,118    (230)   -    1,888 
Provision for expenses   142    (49)   -    93 
Remeasurement loss on defined benefit plan   1,238    -    455    1,693 
Loss available for offsetting against future taxable income   294    (294)   -    - 
Deferred tax assets   3,936    1,872    455    6,263 
v3.25.2
Trade and other receivables (Tables)
 12 Months Ended
Mar. 31, 2025
Trade And Other Receivables  
Schedule of trade and other receivables

 Schedule of trade and other receivables

         
   March 31, 
   2024   2025 
Trade receivables (net of allowance)   4,508,552    5,523,943 
Refund and other receivable (net of allowance)   128,691    44,298 
Total   4,637,243    5,568,241 
v3.25.2
Other financial assets, current (Tables)
 12 Months Ended
Mar. 31, 2025
Other Financial Assets Current  
Schedule of other financial assets, current

 Schedule of other financial assets, current

   March 31, 
   2024   2025 
Interest accrued on term deposits   29,583    11,930 
Security deposits (net of allowance)   55,700    51,938 
Others (includes Government Grant)   49,647    854 
Total   134,930    64,722 
Schedule of movement in allowance for doubtful security deposits

The movement in the allowance for doubtful other financial assets:

 

   2024   2025 
   March 31, 
   2024   2025 
Balance at the beginning of the year   78,725    78,725 
Amount written off during the year   -    (3,577)
Adjusted on account of business combination   -    (73,700)
Balance at the end of the year   78,725    1,448 
The movement in the Government Grant during the year was as follows:

The movement in the Government Grant during the year was as follows:

 

   2024   2025 
   March 31, 
   2024   2025 
At 01 April   54,594    48,813 
Recorded/ (trued- up) in statement of profit or loss   (5,781)   - 
Sale of SEIS   -    47,924 
Loss on sale of SEIS   -    (889)
At 31 March   48,813    - 
v3.25.2
Cash and cash equivalents (Tables)
 12 Months Ended
Mar. 31, 2025
Cash And Cash Equivalents  
Schedule of cash and cash equivalents

  Schedule of cash and cash equivalents

   2024   2025 
   March 31, 
   2024   2025 
Cash on hand   72    656 
Credit card collection in hand   797,380    160,814 
Balances with bank   944,498    444,332 
Total   1,741,950    605,802 
v3.25.2
Equity share capital and share premium (Tables)
 12 Months Ended
Mar. 31, 2025
Disclosure of classes of share capital [abstract]  
Schedule of authorized shares

Schedule of authorized shares 

   March 31, 
Authorized shares  2024   2025 
   Numbers of Shares   Numbers of Shares 
Ordinary shares of INR 0.008 ($ 0.0001) each   500,000,000    500,000,000 
Ordinary share Class A of INR 0.008 ($ 0.0001) each   10,000,000    10,000,000 
Ordinary share Class F of INR 0.008 ($ 0.0001) each   3,159,375    3,159,375 
Preference shares of INR 0.008 ($ .0001) each   10,000,000    10,000,000 
    523,159,375    523,159,375 
Schedule of changes in share capital and share premium

 Schedule of changes in share capital and share premium 

   Numbers of Shares   Share Capital   Share Premium 
             
Balance as at April 1, 2023   63,647,927    850    20,388,799 
Exercise of option (Restricted stock units and share-based payments) (refer to Note 30)   906,052    7    122,679 
Own shares repurchased   (1,440,424)   -    - 
Balance as at March 31, 2024   63,113,555    857    20,511,478 
Exercise of option (Restricted stock units and share-based payments) (refer to Note 30)   694,096    6    83,590 
Own shares repurchased   (1,733,009)   -    - 
Balance as at March 31, 2025   62,074,642    863    20,595,068 
Schedule of classes of shares outstanding

The Company has following classes of shares outstanding as follows:

 

  

       Number of shares as at 
Class of shares  Nominal value   March 31, 2024   March 31, 2025 
Ordinary shares*  $0.0001    61,258,684    60,219,771 
Class A shares #  $0.0001    -    - 
Class F shares*  $0.0001    1,854,871    1,854,871 

 

*For movement in class F shares to Ordinary shares, refer to note 6.

 

#Norwest Venture Partners X, LP and Norwest Venture Partners IX, LP, holding 1,196,084 and 1,196,084 Class A shares, respectively, have converted their Class A shares into 1,196,084 and 1,196,084 ordinary shares, respectively i.e. in the exchange ratio of 1:1, on February 15, 2024.
Schedule of changes in treasury shares

For details of shares reserved for issue under the Employee Stock Option Plan (ESOP) of the Company, refer to Note 30.2.

 

Schedule of changes in treasury shares 

Treasury shares        
   Numbers of Shares   Amount 
Balance as at April 1, 2023   999    11,219 
Own shares repurchased   1,440,424    210,933 
Balance as at March 31, 2024   1,441,423    222,152 
           
Balance as at April 1, 2024   1,441,423    222,152 
Own shares repurchased   1,733,009    196,403 
Balance as at March 31, 2025   3,174,432    418,555 
v3.25.2
Other capital reserve (Tables)
 12 Months Ended
Mar. 31, 2025
Disclosure of reserves within equity [line items]  
Schedule of changes in other capital reserves

  

  

Share-based

payments

  

Equity Instruments

(Refer note 30.1)

   Reserve on expiry of warrant #   Total 
March 31, 2023   257,795    341    23,258    281,394 
Share-based payments expense during the year   229,260    -    -    229,260 
Exercised during the year   (122,660)   -    -    (122,660)
Forfeited during the year   (9,301)   -    -    (9,301)
Expired during the year   -    -    -    - 
March 31, 2024   355,094    341    23,258    378,693 
Share-based payments expense during the year   123,811    -    -    123,811 
Exercised during the year   (90,272)   -    -    (90,272)
Forfeited during the year   -    -    -    - 
Expired during the year   -    -    -    - 
March 31, 2025   388,633    341    23,258    412,232 
Share plan 2006 and india share plan 2006 [member]  
Disclosure of reserves within equity [line items]  
Summary of Inputs for Model Used

The following table illustrates the number and weighted average exercise prices (WAEP) of, and movements in, share options during the year:

  

   March 31, 
   2024   2025 
   No. of shares   Weighted average EP per share*   No. of shares   Weighted average EP per share* 
Number of options outstanding at the beginning of the year   203,855    356.65    191,411    356.65 
Granted during the year   -    -    -    - 
Forfeited during the year   -    -    -    - 
Expired during the year   12,444    361.70    191,411    356.65 
Exercised during the year   -    -    -    - 
Number of options outstanding at the end of the year   191,411    356.65    -    - 
                     
Vested/exercisable   191,411    356.65    -    - 

 

*The weighted average exercise price per share is fixed in USD. The amount disclosed in INR are determined by multiplying exercise price per share in USD by exchange rate of INR 85.43 per USD as at March 31, 2025 (March 31, 2024 INR 83.34 per USD).
Stock Option 2016 And Incentive Plan [Member]  
Disclosure of reserves within equity [line items]  
Summary of Inputs for Model Used

The following table illustrates the number and weighted average exercise prices (WAEP) of, and movements in, share options during the year:

  

   March 31, 2024   March 31, 2025 
   No. of shares   Weighted average EP per share*   No. of shares   Weighted average EP per share* 
Number of options outstanding at the beginning of the year   271,370    259.07    189,081    270.91 
Granted during the year   -    -    -    - 
Forfeited during the year   62,331    150.48    34,605    810.14 
Expired during the year   19,958    741.60    4,013    93.95 
Number of options outstanding at the end of the year   189,081    270.91    150,463    170.86 
                     
Vested/exercisable   156,759    342.30    150,463    170.86 

 

*The weighted average exercise price per share is fixed in USD. The amount disclosed in INR are determined by multiplying exercise price per share in USD by exchange rate of INR 85.43 per USD as at March 31, 2025 (March 31, 2024 INR 83.34 per USD).
Restricted stock unit and performance stock units 2016 plan [member]  
Disclosure of reserves within equity [line items]  
Summary of Inputs for Model Used

The following tables list the inputs to the model used for the years then ended

 

   March 31, 2024   March 31, 2025 
   PSU’s   RSU’s   PSU’s   RSU’s 
Weighted average Fair value of ordinary share at the measurement date (USD)   2.02    2.02    1.35    2.02 
Risk-free interest rate (%)   4.15%   4.15%   4.19%   4.15%
Expected volatility (%)   55.00%   55.00%   46.50%   55.00%
Expected life   4 years    4 years    4 years    4 years 
Dividend Yield   0%   0%   0%   0%
Model used   Monte Carlo Simulation    Black-Scholes Valuation    Monte Carlo Simulation    Black-Scholes Valuation 

 
Summary of Inputs for Model Used

  

   March 31, 2024   March 31, 2025 
   No. of shares   No. of shares 
Number of RSU/PSU’s outstanding at the beginning of the year   3,619,800    4,578,910 
Granted during the year   1,983,129    1,483,551 
Expired during the year   117,969    - 
Vested/exercised during the year   906,050    694,096 
Vested RSUs net settled for employee’s tax obligation*   -    69,189 
Number of RSU/PSU’s outstanding at the end of the year   4,578,910    5,299,176 

 

*As per Tax laws applicable in India, the Company is obliged to withhold an amount for an employee’s tax obligation associated with a share-based payment and transfer that amount in cash, to the tax authority on the employee’s behalf. Accordingly, during the year ended March 31, 2025, the Group settled the transaction on a net basis by withholding the number of vested PSUs with a fair value equal to the monetary value of the employee’s tax obligation of INR 6,676 which has been paid to the tax authority on the employee’s behalf before March 31, 2025. Total tax liability paid of INR 6,676 is recognized in equity as transaction with equity shareholders.

 

The weighted average remaining contractual life for RSU’s outstanding as at March 31, 2025 was 0.92 years (March 31, 2024: 1.27).

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)

 

The range of exercise prices for RSU’s outstanding at the end of the year is Nil (March 31, 2024: Nil).

 

During the year ended March 31, 2025, share based compensation cost for these RSU’s/PSU’s is recognized under personnel expenses amounting to INR 124,787 (March 31, 2024: 229,238 and March 31, 2023: 138,196). Refer to Note 11.

 

The following tables list the inputs to the model used for the years then ended

 

   March 31, 2024   March 31, 2025 
   PSU’s   RSU’s   PSU’s   RSU’s 
Weighted average Fair value of ordinary share at the measurement date (USD)   2.02    2.02    1.35    2.02 
Risk-free interest rate (%)   4.15%   4.15%   4.19%   4.15%
Expected volatility (%)   55.00%   55.00%   46.50%   55.00%
Expected life   4 years    4 years    4 years    4 years 
Dividend Yield   0%   0%   0%   0%
Model used   Monte Carlo Simulation    Black-Scholes Valuation    Monte Carlo Simulation    Black-Scholes Valuation 

 
v3.25.2
Components of Other Comprehensive Income/ (Loss) (Tables)
 12 Months Ended
Mar. 31, 2025
Components Of Other Comprehensive Income  
Schedule of changes in accumulated other comprehensive loss

The following table summarizes the changes in the accumulated balance for each component of accumulated other comprehensive (loss)/ income attributable to the Company.

  

      2023    2024   2025 
      March 31, 
    2023    2024   2025 
Actuarial loss on defined benefit plan:                
Actuarial loss on obligation     (10,508 )   (6,449)   (3,061)
Income tax expense     (205 )   443    - 
Total     (10,713 )   (6,006)   (3,061)
                   
Foreign currency translation:                  
Foreign currency translation differences     1,245     (15,027)   202,414 
Balance at the end of year     (9,468 )   (21,033)   1,99,353 
v3.25.2
Borrowings (Tables)
 12 Months Ended
Mar. 31, 2025
Disclosure Borrowings Abstract  
Schedule of borrowings by type and classification

  

   Term  2024   2025 
      March 31, 
   Term  2024   2025 
Current             
Secured             
Vehicle loan  Less than 1 year   9,509    10,136 
Bank overdraft and cash credit  Less than 1 year   -    57,134 
Non convertible debentures  Less than 1 year   108,105    - 
Sale bill discounting  Less than 1 year   405,901    457,850 
Total      523,515    525,120 
              
Non-Current             
Vehicle loan  More than 1 year   23,884    20,744 
Non Convertible Debentures  More than 1 year   90,793    - 
Total      114,677    20,744 

 

Particulars  Currency  Interest Rate  Maturity  2024   2025 
         Year of  March 31, 
Particulars  Currency  Interest Rate  Maturity  2024   2025 
Non Convertible Debentures  INR  14.25%  2025   198,898    - 
Vehicle loan  INR  7%-11.25%  2025-2031   33,393    30,880 
Sale bill discounting  INR  Floating rate*  On demand   405,901    457,850 
Bank overdraft and cash credit  INR  Floating rate**  On demand   -    57,134 
             638,192    545,864 

 

*3M MCLR + 0.20% to 0.50% spread

 

**3M/ 12M MCLR + 0.20% to 1.00% spread
Schedule of material discrepancies between books of accounts in subsidiary and quarterly statements

Following are the material discrepancies between books of accounts in one of the step down subsidiary and quarterly statements submitted to banks, where borrowings have been availed based on security of current assets:

  

Quarter  Name of Bank  Particulars of Security Provided  Amount as per Books of Account  

Amount as reported

in the quarterly return / statement

   Amount of Difference   Reason for material discrepancies
March 31, 2025  Axis bank  Trade Receivables   1,055,193    1,032,444    22,750   The discrepancy majorly is on account of the details being submitted on the basis of provisional books / financial statements. Adjustments pertaining to cut offs are done only on finalization of books of accounts / financial statements.”
v3.25.2
Trade and other payables (Tables)
 12 Months Ended
Mar. 31, 2025
Trade And Other Payables  
Schedule of trade and other payables

  

   2024   2025 
   March 31, 
   2024   2025 
Trade payables   1,146,789    1,677,434 
Accrued expenses   488,527    447,600 
Refund and other payables   972,771    828,035 
Total   2,608,087    2,953,069 
Current   2,608,087    2,953,069 
Non-current   -    - 
Total   2,608,087    2,953,069 
v3.25.2
Employment benefit plan (Tables)
 12 Months Ended
Mar. 31, 2025
Disclosure of defined benefit plans [abstract]  
Schedule of employee benefits liability

  

   2024   2025 
   March 31, 
   2024   2025 
Defined benefit obligation   71,449    87,180 
Liability for compensated absences   25,708    41,200 
Total liability   97,157    128,380 
           

Current

   41,307    62,550 
Non Current   55,850    65,830 
Total   97,157    128,380 
Net Unfunded liability   71,449    87,180 
Summary of changes in present value of obligation and fair value of plan assets

Movement in obligation

  

   March 31, 
   2024   2025 
Present value of obligation at beginning of year   79,497    76,876 
On account of business combination   -    15,833 
Interest cost   4,269    5,543 
Current service cost   8,437    12,563 
Past service cost   (1,633)   - 
Remeasurement (gain)/ loss  on obligation   -    - 
-economic assumptions   4,581    1,641 
-demographic assumptions   (211)   448 
-experience assumptions   1,874    1,037 
Benefits paid   (19,938)   (14,284)
Present value of obligation at closing of year   76,876    99,657 

 

Movement in plan assets*

 

   March 31, 
   2024   2025 
Fair value of plan assets at beginning of the year   8,218    5,427 
On account of business combination   -    6,937 
Employer contributions   -    - 
Benefits paid   (3,169)   (849)
Return on plan assets (excluding amounts included in net interest expense)   584    890 
Remeasurement (gain)/loss on plan assets   (206)   72 
Fair value of plan assets at end of the year   5,427    12,477 

 

*plan assets represents investment made by the Company in LIC funds.
Schedule of unfunded liability

Unfunded liability

 Schedule of unfunded liability

   2024   2025 
   March 31, 
   2024   2025 
Current   15,601    21,350 
Non-current   55,848    65,830 
Unfunded liability recognized in statement of financial position   71,449    87,180 
Schedule of components of cost recognized in profit or loss

Components of cost recognized in profit or loss

  

   2023   2024   2025 
Current service cost   8,619    8,437    12,563 
Past service cost   -    (1,633)   - 
Net interest cost   2,702    3,686    4,653 
Components of cost recognized in profit or loss   11,321    10,490    17,216 
Summary of amounts for actuarial loss on obligation recognized in other comprehensive income

Amount recognized in other comprehensive income

  

   2023   2024   2025 
Remeasurement loss on obligation*   10,713    6,006    3,061 

 

*Refer to Note 31 for the movement during the year.
Schedule of actuarial assumptions used for estimating defined benefit obligations

The principal actuarial assumptions used for estimating the group’s defined benefit obligations are set out below:

  

   March 31, 
   2024   2025 
Discount rate   7.19%   6.54%- 6.85% 
Future salary increase   5.00%   5.00%
Average expected future working life (years)   3.46-3.63    3.21-16.09 
Retirement age (years)   65    60-65 
Mortality table   IALM* (2012-14) Ultimate 
Withdrawal rate (%)          
Ages          
Upto 30 years   30%   2%-27% 
From 31 to 44 years   29%   2%-31% 
Above 44 years   23%   2%-31% 

 

*Indian Assured Lives Mortality (2012-14) Ultimate represents published mortality table used for mortality assumption.
Summary of sensitivity analysis of actuarial assumptions used in computation of defined benefit obligation

  

   March 31, 
   2024   2025 
a) Impact of the change in discount rate          
a) Impact due to increase of 0.50 %   (1,152)   (9,616)
a) Impact due to increase of 0.50 %   (1,152)   (9,616)
b) Impact due to decrease of 0.50 %   1,191    15,688 
           
b) Impact of the change in salary increase          
a) Impact due to increase of 0.50 %   1,255    14,872 
b) Impact due to decrease of 0.50 %   (1,231)   (8,718)
Schedule of expected contributions to the defined benefit plan in future years

The following payments are expected contributions to the defined benefit plan in future years:

  

   2024   2025 
   March 31, 
   2024   2025 
Year 1   21,029    27,720 
Year 2   15,962    17,335 
Year 3   12,549    14,401 
Year 4   10,899    12,037 
Year 5   8,589    9,501 
Year 6-10   21,709    28,428 
Above 10   8,366    33,562 
Total expected payments   99,103    142,984 
Schedule of defined contribution plans

During the year, the Group has realized the following amounts in the Statement of Profit and Loss (refer to note 11)

  

   2024   2025 
   March 31, 
   2024   2025 
Employer’s contribution to Employees’ Provident fund   38,683    63,031 
Employer’s contribution to Labour Welfare Fund   16,000    630 
Employer’s contribution   54,683    63,661 
v3.25.2
Deferred Revenue (Tables)
 12 Months Ended
Mar. 31, 2025
Deferred Revenue  
Schedule of deferred revenue, by type

 Schedule of deferred revenue, by type

   March 31, 
   2024   2025 
Global Distribution System provider   -    - 
Loyalty program   3,360    2,390 
Total   3,360    2,390 
Non-current   -    - 
Current   3,360    2,390 
Total   3,360    2,390 
Summary of changes in deferred revenue

 Summary of changes in deferred revenue

   March 31, 
   2024   2025 
At 01, April   45,721    3,360 
Deferred during the year   -    - 
Recorded in statement of profit or loss   (42,361)   (970)
Transferred to other financial liability (deposits)   -    - 
At 31, March   3,360    2,390 
v3.25.2
Other financial liabilities (Tables)
 12 Months Ended
Mar. 31, 2025
Other Financial Liabilities  
Schedule of other financial liabilities

 Schedule of other financial liabilities

   2024   2025 
   March 31, 
   2024   2025 
Current          
Due to employees   65,815    93,924 
Deposits*   353,154    - 
Total   418,969    93,924 

 

*Deposit received from the Global Distribution System provider (GDS), which is repayable at the end of the contract and interest free nature was initially recognized at fair value. The difference between the deposit received and fair value initially recognized is treated as deferred consideration under Note 35. Deposits are subsequently measured at amortized cost and unwinding is recognized under finance cost. The deferred consideration recognized is amortized over the tenure of deposit on straight line basis and amortization is recognized as revenue.
v3.25.2
Other current liabilities (Tables)
 12 Months Ended
Mar. 31, 2025
Other Current Liabilities  
Schedule of other current liabilities

 Schedule of other current liabilities

   2024   2025 
   March 31, 
   2024   2025 
Advance from customers*   622,178    1,027,588 
Statutory liabilities   68,323    117,823 
Other liabilities   52,565    50,381 
Interest accrued on term loan   -    1,545 
Total   743,066    1,197,337 

 

*Advances from customers primarily consist of amounts for future bookings of Airline tickets, Hotel bookings, Packages and freight forwarding services.
v3.25.2
Commitment and contingencies (Tables)
 12 Months Ended
Mar. 31, 2025
Commitment And Contingencies  
Schedule of contingent liabilities

b) Contingent liabilities

 

i) Contingent liabilities not provided for in respect of:

 

   March 31, 2024   March 31, 2025 
Claims against the Group not recognized as debts*   114,410    103,829 
Service tax demand**   311,889    35,377 
Income tax demand***   286,860    821,929 
Goods and service tax demand****   -    64,689 
Bank Guarantee (refer note 32)   -    121,000 
Contingent liabilities   713,159    1,146,824 

 

*These represent claims made by the customers due to service related issues, which are contested by the Group and are pending in various District Consumer Redressal Forums in India. Also these include demand raised under Section 6 of The Employees’ Provident Fund and Misc. Provisions Act,1952 for the financial year 2017-18 and 2018-19. The management does not expect these claims/ demands to succeed and, accordingly, no provision has been recognized in the consolidated financial statements. Therefore the same has been classified as a contingent liability.
** Service tax demand includes:
*** Income tax demand includes:
**** Goods and service tax demand includes:
v3.25.2
Financial risk management, objective and policies (Tables)
 12 Months Ended
Mar. 31, 2025
Disclosure of nature and extent of risks arising from financial instruments [abstract]  
Schedule of credit risk exposure by type

The carrying amount of the financial assets represents the maximum credit exposure. The maximum exposure to credit risk at the reporting date was:

 

   2024   2025 
   March 31, 
   2024   2025 
Trade and other receivables   4,637,243    5,568,241 
Other financial assets   2,916,793    1,509,606 
Cash and cash equivalents (except cash in hand)   1,741,878    605,146 
Total   9,295,914    7,682,993 
Schedule of age of trade and other receivables

The age of Trade and other receivables at the reporting date was:

 

   March 31,   March 31, 
   2024   Impairment   2025   Impairment 
0 - 30 days   2,546,036    5,092    3,272,429    1,816 
31 - 90 days   922,095    1,844    1,218,710    4,439 
91 - 180 days   526,338    1,053    277,439    1,709 
More than 180 days   1,057,918    407,155    1,269,426    461,799 
Total   5,052,387    415,144    6,038,004    469,763 
Schedule of allowance for doubtful debts in trade and other receivables

The movement in the allowance for doubtful debts in respect of trade and other receivables during the year was as follows:

 

   As at March 31 
   2024   2025 
Balance at the beginning of the year   452,046    415,144 
Provisions accrued during the year   (30,964)   67,411 
Amount written off during the year   (5,938)   (12,792)
Balance at the end of the year   415,144    469,763 
Schedule of financial liabilities by type

 Schedule of financial liabilities by type

   Carrying Amount   Contractual Cash Flows *   Within 1 year   1 -5 Years   More than 5 years 
Vehicle loan   33,393    40,172    12,385    27,787    - 
Lease liabilities   215,742    284,724    77,715    207,009    - 
Trade and other payables   2,608,087    2,608,087    2,608,087    -    - 
Sales bill discounting   405,901    405,901    405,901    -    - 
Non convertible debenture   198,898    225,302    128,881    96,421    - 
Other financial liabilities   418,969    418,969    418,969    -    - 
Total   3,880,990    3,983,155    3,651,938    331,217    - 

 

As at March 31, 2025

 

   Carrying Amount   Contractual Cash Flows *   Within 1 year   1 -5 Years   More than 5 years 
Vehicle loan   30,880    34,455    12,695    21,760    - 
Lease liabilities   238,149    312,500    79,221    200,579    32,700 
Trade and other payables   2,953,069    2,953,069    2,953,069    -    - 
Sales bill discounting and bank overdraft   514,984    514,984    514,984    -    - 
Other financial liabilities   93,924    93,924    93,924    -    - 
Total   3,831,006    3,908,932    3,653,893    222,339    32,700 

 

*Represents Undiscounted cash flows of interest and principal
Summary of foreign currency sensitivity

 Summary of foreign currency sensitivity

   March 31, 
   2024   2025 
5% strengthening/weakening of USD against INR   7,053    4,467 
5% strengthening/weakening of USD against INR   7,053    4,467 
           
5% strengthening/weakening of Euro against INR   1,370    5,645 
           
5% strengthening/weakening of GBP against INR   1,599    1,487 
           
5% strengthening/weakening of SGD against INR   (225)   (215)
v3.25.2
Capital management (Tables)
 12 Months Ended
Mar. 31, 2025
Disclosure of objectives, policies and processes for managing capital [abstract]  
Summary of debt ratio information

 Summary of debt ratio information

   2024   2025 
   March 31, 
   2024   2025 
Borrowings and lease liabilities (Refer note 32 and note 42)   853,934    784,013 
Less : Cash and cash equivalents (Refer note 28)   (1,741,950)   (605,802)
Net debt   (888,016)   178,211 
           
Equity   5,388,473    5,403,694 
Total Equity   5,388,473    5,403,694 
           
Gearing ratio (Net debt / total equity + net debt)   (19.73)%   3.19%

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)
v3.25.2
Related party disclosures (Tables)
 12 Months Ended
Mar. 31, 2025
Related Party Disclosures  
Summary of arm’s length transactions with related parties

During the year, the Group entered into the following transactions, in the ordinary course of business on an arm’s length basis, with related parties:

 

   March 31, 
   2023   2024   2025 
Group Companies of entities having significant influence               
Entities having significant influence               
Loan taken   821,900    -    - 
Loan repaid   -    821,900    - 
Interest cost   42,838    42,712    - 
Bank charges   47,765    -    - 
Joint venture company               
Recovery of expenses   102    594    - 
Loan given   1,000    6,300    - 
Interest income   -    460    - 

 

   March 31, 
Balances as at (net of allowances)  2024   2025 
Joint venture company           
Trade receivable */**   530    - 
Other financial assets**   -    - 
Advances   6,300    - 

 

*Trade receivables includes advance given against the future bookings amounting INR Nil (March 31, 2024: 530). Provision for impairment on trade receivables INR Nil (March 31, 2024: INR Nil). Closing balance of trade receivables (net of allowance) as of March 31, 2025 is INR Nil (March 31, 2024: INR 530), refer to note 26.

 

**Provision for impairment on loans to joint venture is INR Nil (March 31, 2024: INR Nil). Cumulative provision for impairment on loans to joint venture as on March 31, 2025 is INR Nil (March 31, 2024: INR 73,719). Closing balance of loans to joint venture (net of allowance) as of March 31, 2025 is INR Nil (March 31, 2024: INR Nil), refer to note 27.
Schedule of key management compensation

Compensation of key management personnel of the Group

 

   2023   2024   2025 
             
Short-term employee benefits   44,749    49,436    51,606 
Contributions to defined contribution plans   618    691    721 

Bonus

   6,765    -    58,551 
Directors Sitting fee’s   14,345    14,237    15,100 
Share based payment   114,632    181,294    95,563 
Total compensation paid to key management personnel   181,109    245,658    221,541 
v3.25.2
Leases (Tables)
 12 Months Ended
Mar. 31, 2025
Leases  
Summary of the movements in the carrying value of right of use assets

(i) Set out below are the carrying amounts of right-of-use assets recognized and the movement during the year;

 

   Buildings   Others   Total 
Balance as of April 1, 2023   189,893    10,867    200,760 
Additions   -    13,548    13,548 
Deletions   -    -    - 
Depreciation (Refer note 13)   (49,923)   (4,348)   (54,271)
Effects of movements in foreign exchange rates   -    -    - 
Balance as of March 31, 2024   139,970    20,067    160,037 
Additions   86,914    -    86,914 
Deletions   (2,476)   -    (2,476)
Depreciation (Refer note 13)   (50,289)   (11,157)   (61,446)
Effects of movements in foreign exchange rates   -    -    - 
Balance as of March 31, 2025   174,119    8,910    183,029 
Schedule of amounts recognized in profit or loss

The following are the amounts recognized in profit or loss:

 

   2024   2025 
   March 31, 
   2024   2025 
Depreciation expense of right-of-use asset (Refer note 13)   54,271    61,446 
Interest on lease liabilities (Refer note 16)   32,267    32,608 
Expense relating to short-term leases (Refer note 12)   3,646    10,968 
Gain on termination/ rent concession of leases (Refer note 10)   -    619 
Total amount recognized in profit or loss   90,184    105,641 
Schedule of lease liabilities by classification

The following is the break-up of current and non-current lease liabilities as of March 31, 2024 and March 31, 2025:

 

   2024   2025 
   March 31, 
   2024   2025 
         
Current lease liabilities   51,324    51,810 
Non-current lease liabilities   164,418    186,339 
Total   215,742    238,149 
Schedule of carrying amounts of lease liabilities and the movements during the period

The following is the movement in lease liabilities during the year ended March 31, 2024 and March 31, 2025:

 

   2024   2025 
   March 31, 
   2024   2025 
Balance as of April 1   251,228    215,742 
Additions   13,050    83,019 
Finance cost accrued during the period (Refer note 16)   32,267    32,608 
Deletions   -    (3,123)
Payment of lease liabilities   (80,803)   (90,097)
Effects of movements in foreign exchange rates   -    - 
Balance as of March 31   215,742    238,149 
Schedule of contractual maturities of lease liabilities

The table below provides details regarding the contractual maturities of lease liabilities as of March 31, 2024 and March 31, 2025 on an undiscounted basis:

 

   March 31, 
   2024   2025 
Less than one year   77,715    79,221 
One to five years   207,009    200,579 
More than five years   -    32,700 
Total   284,724    312,500 
v3.25.2
Business Combination (Tables)
 12 Months Ended
Mar. 31, 2025
Business Combination  
The following table represents the unaudited pro forma revenues and net income/ (loss) assuming the acquisition of Globe occurred on April 1, 2023.

The following table represents the unaudited pro forma revenues and net income/ (loss) assuming the acquisition of Globe occurred on April 1, 2023.

 

   (unaudited)  (unaudited)
   March 31,
   2024  2025
   (unaudited)  (unaudited)
Revenue   2,522,464    2,504,931 
Net Income/ (loss)   83,321    (25,305)
Schedule of purchase consideration for acquisition

Purchase consideration for the above acquisition has been fair valued at INR 1,280,000 as at September 10, 2024 which has been duly paid to the sellers.

 

      
The fair values of the identifiable assets and liabilities of Globe as at the date of acquisition were:     
Net working capital (including cash)*   559,000 
Property, plant and equipment   46,000 
Trademarks   315,870 
Customer base and relationships   189,780 
Vendor base and relationships   138,030 
Borrowings   (523,990)
Deferred tax asset   4,570 
Deferred tax liability   (172,789)
Total identifiable net assets at fair value   556,471 
Goodwill   723,529 
Total purchase consideration   1,280,000 
      
Analysis of cash flows on acquisition:     
      
Net cash acquired with the subsidiary   3,000 
Cash paid   (1,280,000)
Net cash flow on acquisition   (1,277,000)

 

*The fair value of the net working capital includes trade receivables with a fair value of INR 522,550 equivalent to gross contractual amount receivable.
  
The fair values of the identifiable assets and liabilities of ANN as at the date of acquisition were:     
Net working capital (including cash)   (6,400)
Total identifiable net assets at fair value   (6,400)

Non-controlling interests measured at fair value

   (200)
Deferred tax assets   26,410 
Total enterprise value (including fair value of existing 50% stake)   19,810 
      
Analysis of cash flows on acquisition:     
      
Net cash acquired with the subsidiary   2,870 
Cash paid   (9,800)
Net cash flow on acquisition   (6,930)

 
Schedule of values and lives of intangibles recognised on acquisition

The table below shows the values and lives of intangibles recognized on acquisition:-

 

   Life (years)    
Supplier relationship  15   138,030 
Trademarks  15   315,870 
Customer relationship  15   189,780 
Total Intangibles      643,680 
v3.25.2
Schedule of useful lives of property, plant and equipment (Details)
 12 Months Ended
Mar. 31, 2025
Computer equipment [member]  
IfrsStatementLineItems [Line Items]  
Useful life measured as period of time, property, plant and equipment 3 years
Fixtures and fittings [member]  
IfrsStatementLineItems [Line Items]  
Useful life measured as period of time, property, plant and equipment 5 years
Vehicles [member] | Bottom of range [member]  
IfrsStatementLineItems [Line Items]  
Useful life measured as period of time, property, plant and equipment 3 years
Vehicles [member] | Top of range [member]  
IfrsStatementLineItems [Line Items]  
Useful life measured as period of time, property, plant and equipment 7 years
Buildings [member]  
IfrsStatementLineItems [Line Items]  
Useful life measured as period of time, property, plant and equipment 60 years
v3.25.2
Schedule of useful lives of intangible assets (Details)
 12 Months Ended
Mar. 31, 2025
Copyrights, patents and other industrial property rights, service and operating rights [member]  
IfrsStatementLineItems [Line Items]  
Finite lived intangible assets useful life 3 years
Computer software [member] | Bottom of range [member]  
IfrsStatementLineItems [Line Items]  
Finite lived intangible assets useful life 3 years
Computer software [member] | Top of range [member]  
IfrsStatementLineItems [Line Items]  
Finite lived intangible assets useful life 5 years
Supplier Related Intangible Assets [member]  
IfrsStatementLineItems [Line Items]  
Finite lived intangible assets useful life 15 years
Brand names [member]  
IfrsStatementLineItems [Line Items]  
Finite lived intangible assets useful life 15 years
Customer-related intangible assets [member] | Bottom of range [member]  
IfrsStatementLineItems [Line Items]  
Finite lived intangible assets useful life 10 years
Customer-related intangible assets [member] | Top of range [member]  
IfrsStatementLineItems [Line Items]  
Finite lived intangible assets useful life 15 years
v3.25.2
Material accounting policies (Details Narrative)
 12 Months Ended
Mar. 31, 2025
₨ / shares
IfrsStatementLineItems [Line Items]  
Closing foreign exchange rate 85.43
Buildings [member] | Bottom of range [member]  
IfrsStatementLineItems [Line Items]  
Right of use assets estimated useful life 3 years
Buildings [member] | Top of range [member]  
IfrsStatementLineItems [Line Items]  
Right of use assets estimated useful life 9 years
Other property, plant and equipment [member] | Bottom of range [member]  
IfrsStatementLineItems [Line Items]  
Right of use assets estimated useful life 3 years
Other property, plant and equipment [member] | Top of range [member]  
IfrsStatementLineItems [Line Items]  
Right of use assets estimated useful life 5 years
v3.25.2
Summary of information about reportable segments (Details)
₨ in Thousands, $ in Thousands
 12 Months Ended
Mar. 31, 2025
USD ($)
Mar. 31, 2025
INR (₨)
Mar. 31, 2024
INR (₨)
Mar. 31, 2023
INR (₨)
IfrsStatementLineItems [Line Items]        
Revenue as per IFRS - Rendering of services $ 86,427 ₨ 7,383,464 ₨ 3,583,798 ₨ 3,405,548
Service cost 47,279 4,039,046 866,039 669,098
Other revenue 6,685 571,058 606,099 421,717
Other income 1,275 108,957 102,362 152,520
Personnel expenses 18,685 1,596,258 1,348,215 1,148,434
Marketing and sales promotion expenses 5,035 430,106 459,935 336,472
Other operating expenses (20,830) (1,779,465) (1,579,352) (1,554,963)
Finance cost 1,251 106,877 286,998 326,399
Depreciation and amortization 3,616 308,899 197,527 190,152
Finance income 2,433 207,824 170,714 28,944
Impairment of loan to joint venture 1,000
(Loss)/ Profit before taxes 124 10,652 (329,331) (241,380)
Tax (expense)/ benefit (150) (12,849) 37,174 46,788
(Loss) / Profit for the year $ 274 23,501 (366,505) (288,168)
Air ticketing [member]        
IfrsStatementLineItems [Line Items]        
Revenue as per IFRS - Rendering of services [1]   1,925,254 1,729,305 1,779,972
Customer inducement and acquisition costs   1,662,928 2,773,118 2,555,320
Service cost  
Segment results   3,588,182 4,502,423 4,335,292
Hotels and packages [member]        
IfrsStatementLineItems [Line Items]        
Revenue as per IFRS - Rendering of services [1]   5,138,044 1,693,962 1,471,270
Customer inducement and acquisition costs   350,741 312,206 263,756
Service cost   (4,016,080) (866,039) (669,098)
Segment results   1,472,706 1,140,129 1,065,927
Other services [member]        
IfrsStatementLineItems [Line Items]        
Revenue as per IFRS - Rendering of services [1]   320,165 160,531 154,305
Customer inducement and acquisition costs   15,858 18,544 23,380
Service cost   (22,966)
Segment results   313,057 179,075 177,685
Reportable segments [member]        
IfrsStatementLineItems [Line Items]        
Revenue as per IFRS - Rendering of services [1]   7,383,464 3,583,798 3,405,548
Customer inducement and acquisition costs   2,029,527 3,103,868 2,842,456
Service cost   (4,039,046) (866,039) (669,098)
Segment results   5,373,945 5,821,627 5,578,906
Other revenue [2]   571,058 606,099 421,717
Other income   108,957 102,362 152,520
Customer inducement and acquisition costs (recorded as a reduction of revenue)   (2,029,527) (3,103,868) (2,842,455)
Personnel expenses   (1,596,258) (1,348,215) (1,148,434)
Marketing and sales promotion expenses   (430,106) (459,935) (336,472)
Other operating expenses   (1,779,465) (1,579,352) (1,554,963)
Finance cost   (106,877) (286,998) (326,399)
Depreciation and amortization   (308,899) (197,527) (190,152)
Finance income   207,824 170,714 28,944
Listing and related expenses   (54,238) (23,591)
Impairment of loan to joint venture   (1,000)
(Loss)/ Profit before taxes   10,652 (329,331) (241,380)
Tax (expense)/ benefit   12,849 (37,174) (46,788)
(Loss) / Profit for the year   ₨ 23,501 ₨ (366,505) ₨ (288,168)
[1] There were no inter-segment revenue during the year ended March 31, 2023, March 31, 2024 and March 31, 2025. This amount constitutes of ‘revenue from external customer only.
[2] Other revenue primarily comprises the advertisement income from hosting advertisements on our internet web-sites, income from sale of coupons and vouchers and income from facilitating website access to travel insurance companies. The operations do not meet any of the quantitative thresholds to be a reportable segment for any of the periods presented in these consolidated financial statements.
v3.25.2
Schedule of reconciliation of reportable segments (Details)
₨ in Thousands, $ in Thousands
 12 Months Ended
Mar. 31, 2025
USD ($)
Mar. 31, 2025
INR (₨)
Mar. 31, 2024
INR (₨)
Mar. 31, 2023
INR (₨)
Segment Information        
Revenue as per IFRS - Rendering of services   ₨ 7,383,464 ₨ 3,583,798 ₨ 3,405,548
Other Revenue $ 6,685 571,058 606,099 421,717
Total Revenue   ₨ 7,954,522 ₨ 4,189,897 ₨ 3,827,265
v3.25.2
Summary of non-current assets by physical location (Details) - INR (₨)
₨ in Thousands
Mar. 31, 2025
Mar. 31, 2024
IfrsStatementLineItems [Line Items]    
Non-current assets [1] ₨ 2,664,836 ₨ 1,147,306
India [member]    
IfrsStatementLineItems [Line Items]    
Non-current assets [1] 2,664,836 1,147,306
Other geographical [member]    
IfrsStatementLineItems [Line Items]    
Non-current assets [1]
[1] Non-current assets presented above represent property, plant and equipment, right-of-use assets and intangible assets and goodwill.
v3.25.2
Schedule of interest in subsidiaries (Details)
 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
THCL Travel Holding Cyprus Limited [member]    
IfrsStatementLineItems [Line Items]    
Description of nature of entity's operations and principal activities Investment Company  
Country of incorporation Cyprus  
Proportion of ownership interest in subsidiary 100.00% 100.00%
Yatra USA Corp [member]    
IfrsStatementLineItems [Line Items]    
Description of nature of entity's operations and principal activities Investment Company  
Country of incorporation USA  
Proportion of ownership interest in subsidiary [1] 100.00% 100.00%
Yatra USA, LLC [member]    
IfrsStatementLineItems [Line Items]    
Description of nature of entity's operations and principal activities Travel & Travel related services  
Country of incorporation USA  
Proportion of ownership interest in subsidiary 100.00% 100.00%
Asia Consolidated DMC Pte. Ltd. [member]    
IfrsStatementLineItems [Line Items]    
Description of nature of entity's operations and principal activities Travel & Travel related services  
Country of incorporation Singapore  
Proportion of ownership interest in subsidiary 100.00% 100.00%
Middle East Travel Management Company Private Limited [member]    
IfrsStatementLineItems [Line Items]    
Description of nature of entity's operations and principal activities Travel & Travel related services  
Country of incorporation India  
Proportion of ownership interest in subsidiary 100.00% 100.00%
Yatra Online Limited [Member]    
IfrsStatementLineItems [Line Items]    
Description of nature of entity's operations and principal activities Travel & Travel related services  
Country of incorporation India  
Proportion of ownership interest in subsidiary [2] 64.46% 64.46%
Yatra Corporate Hotel Solutions Private Limited [member]    
IfrsStatementLineItems [Line Items]    
Description of nature of entity's operations and principal activities Travel & Travel related services  
Country of incorporation India  
Proportion of ownership interest in subsidiary [3] 64.46% 64.46%
TSI Yatra Private Limited [member]    
IfrsStatementLineItems [Line Items]    
Description of nature of entity's operations and principal activities Travel & Travel related services  
Country of incorporation India  
Proportion of ownership interest in subsidiary [3] 64.46% 64.46%
Yatra TG Stays Private Limited [member]    
IfrsStatementLineItems [Line Items]    
Description of nature of entity's operations and principal activities Travel & Travel related services  
Country of incorporation India  
Proportion of ownership interest in subsidiary [3] 64.46% 64.46%
Yatra Hotel Solutions Private Limited [member]    
IfrsStatementLineItems [Line Items]    
Description of nature of entity's operations and principal activities Travel & Travel related services  
Country of incorporation India  
Proportion of ownership interest in subsidiary [3] 64.46% 64.46%
Air travel bureau limited [member]    
IfrsStatementLineItems [Line Items]    
Description of nature of entity's operations and principal activities Travel & Travel related services  
Country of incorporation India  
Proportion of ownership interest in subsidiary [3] 64.46% 64.46%
Travel.Co.In Private Limited [member]    
IfrsStatementLineItems [Line Items]    
Description of nature of entity's operations and principal activities Travel & Travel related services  
Country of incorporation India  
Proportion of ownership interest in subsidiary [3] 64.46% 64.46%
Yatra Online Freight Services Private Limited [member]    
IfrsStatementLineItems [Line Items]    
Description of nature of entity's operations and principal activities Freight forwarding services  
Country of incorporation India  
Proportion of ownership interest in subsidiary [3] 64.46% 64.46%
Yatra Middle East L.L.C-FZ [member]    
IfrsStatementLineItems [Line Items]    
Description of nature of entity's operations and principal activities Computer programming, consultancy and related activities, arranging and assembling tours and forwarding of freight  
Country of incorporation United Arab Emirates  
Proportion of ownership interest in subsidiary [4] 64.46% 64.46%
Yatra MICE and Holidays Limited [member]    
IfrsStatementLineItems [Line Items]    
Description of nature of entity's operations and principal activities Travel & Travel related services  
Proportion of ownership interest in subsidiary [5] 63.82%  
Globe All India Services Limited [Member]    
IfrsStatementLineItems [Line Items]    
Description of nature of entity's operations and principal activities Travel & Travel related services  
Proportion of ownership interest in subsidiary [2] 64.46%  
[1] Includes 18.63% (March 31, 2024: 18.63%) Class F Shares owned by Terrapin 3’s founder stockholders having no voting right. Terrapin 3’s founder stockholders also own Class F Shares in the Company having no economic value and have an exchange right to acquire Ordinary Shares of the Company.
[2] Remaining shares of 35.54% (March 31, 2024: 35.54%) are held by the public and institutional shareholder (non-controlling shareholder) as at March 31, 2025. Refer to note 29.
[3] Remaining shares of 35.54% (March 31, 2024: 35.54%) are held indirectly by the non-controlling shareholder as at March 31, 2025 through Yatra Online Limited.
[4] On February 9, 2023, Yatra Middle East L.L.C.-FZ was incorporated in Dubai, United Arab Emirates with principal activity of Computer programming, consultancy and related activities, arranging and assembling tours and forwarding of freight. Yatra Online, Inc. (the “Company”), through its subsidiary, Yatra Online Limited holds all of the outstanding shares of Yatra Middle East L.L.C.-FZ.
[5] Remaining shares of 36.18% are held are held indirectly by the non-controlling shareholder as at March 31, 2025 through Yatra Online Limited.
v3.25.2
Schedule of Interest in Subsidiaries (Details) (Parenthetical)
 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
IfrsStatementLineItems [Line Items]    
Proportion of ownership interests held by non-controlling interests 35.54% 35.54%
Yatra Online Limited [Member]    
IfrsStatementLineItems [Line Items]    
Proportion of ownership interests held by non-controlling interests 35.54% 35.54%
Terrapin 3's founder stockholders [member] | Class F shares [member] | Yatra USA Corp [member]    
IfrsStatementLineItems [Line Items]    
Proportion of ownership interests held by non-controlling interests 18.63% 18.63%
Non controlling shareholder [member]    
IfrsStatementLineItems [Line Items]    
Proportion of ownership interests held by non-controlling interests 36.18%  
v3.25.2
Schedule of noncontrolling interests consolidated financial information (Details)
₨ in Thousands, $ in Thousands
 12 Months Ended
Mar. 31, 2025
USD ($)
Mar. 31, 2025
INR (₨)
Mar. 31, 2024
INR (₨)
Mar. 31, 2023
INR (₨)
Mar. 31, 2025
INR (₨)
Mar. 31, 2022
INR (₨)
IfrsStatementLineItems [Line Items]            
Non-current assets $ 35,027   ₨ 1,527,756   ₨ 2,992,332  
Current assets 119,581   10,962,009   10,215,806  
Non-current liabilities 4,863   339,614   415,381  
Current liabilities 57,216   4,389,879   4,887,923  
Current liabilities 92,529   7,760,272 ₨ 719,319 7,904,834 ₨ 892,241
Non-controlling interests 29,277   2,371,799   2,501,141  
Equity attributable to equity holders of the parent 63,252   5,388,473   5,403,693  
Revenue 93,112 ₨ 7,954,522 4,189,897 3,827,265    
Other income 1,275 108,957 102,362 152,520    
Expenses (20,830) (1,779,465) (1,579,352) (1,554,963)    
Finance income 2,433 207,824 170,714 28,944    
Finance cost (1,251) (106,877) (286,998) (326,399)    
Finance cost 1,251 106,877 286,998 326,399    
Listing and related expenses (54,238) (23,591)    
Listing and related expenses 54,238 23,591    
Tax expense 150 12,849 (37,174) (46,788)    
Tax expense (150) (12,849) 37,174 46,788    
Loss for the year 274 23,501 (366,505) (288,168)    
Other comprehensive income for the year, net of tax 2,335 199,353 (21,033) (9,468)    
Total comprehensive income / (loss) for the year, net of tax 2,609 222,854 (387,538) (297,636)    
Non-controlling interests 1,526 130,426 (15,562) 1,075    
Equity holders of the parent (1,252) (106,925) (350,943) (289,243)    
Non-controlling interests 1,514 129,344 (17,678) 927    
Equity holders of the parent 1,095 93,510 (369,860) (298,563)    
Net cash used in operating activities (3,407) (291,088) (1,433,362) (1,962,346)    
Net cash used in/ generated from investing activities 574 49,029 (2,295,504) (145,952)    
Net cash generated/ (used) in financing activities (12,012) (1,026,163) 5,132,969 1,751,813    
Net increase/ (decrease) in cash and cash equivalents (14,845) (1,268,222) 1,347,187 (356,485)    
Cash consideration received from non-controlling shareholders 7,688,897    
Yatra Online Limited [Member]            
IfrsStatementLineItems [Line Items]            
Non-current assets 34,916   1,526,239   2,982,968  
Current assets 118,071   10,538,735   10,086,815  
Non-current liabilities 4,862   339,769   415,344  
Current liabilities 58,292   4,454,016   4,979,925  
Current liabilities 89,833   7,271,189   7,674,514  
Non-controlling interests 29,277   2,371,802   2,501,141  
Equity attributable to equity holders of the parent 60,556   4,899,387   ₨ 5,173,373  
Revenue 93,070 7,950,976 4,186,676 3,801,597    
Other income 1,330 113,653 102,294 144,954    
Expenses (91,059) (7,779,148) (4,195,487) (3,595,026)    
Finance income 2,388 203,964 157,132 28,760    
Finance cost 1,185 (101,256) (245,957) (234,097)    
Finance cost (1,185) 101,256 245,957 234,097    
Listing and related expenses (54,238) (23,591)    
Listing and related expenses 54,238 23,591    
Tax expense (169) 14,472 (32,514) (45,697)    
Tax expense 169 (14,472) 32,514 45,697    
Loss for the year 4,713 402,661 (82,094) 76,900    
Other comprehensive income for the year, net of tax (36) (3,058) (5,958) (10,458)    
Total comprehensive income / (loss) for the year, net of tax 4,677 399,603 (88,052) 66,442    
Non-controlling interests 1,527 130,426 (29,175) 1,084    
Equity holders of the parent 3,187 272,236 (52,919) 75,816    
Non-controlling interests 1,514 129,344 (31,293) 937    
Equity holders of the parent 3,164 270,259 (56,759) 65,505    
Net cash used in operating activities (10,377) (886,480) (1,424,478) (1,530,819)    
Net cash used in/ generated from investing activities 10,968 936,981 (2,337,311) (166,655)    
Net cash generated/ (used) in financing activities (11,964) (1,022,045) 4,663,085 1,384,190    
Net increase/ (decrease) in cash and cash equivalents $ (11,373) ₨ (971,544) 901,296 ₨ (313,284)    
Cash consideration received from non-controlling shareholders [1]     7,688,896      
Proportionate interest of non-controlling shareholder in net asset of Indian subsidiary     2,656,614      
Difference recognized in Non-controlling interest reserve within equity     5,032,282      
Less: Transaction costs attributed to NCI     278,757      
Amount recognized as NCI     ₨ 2,377,857      
[1] disclosed as “Change in non-controlling interest” under financing activities in Consolidated Statement of Cash flow
v3.25.2
Group information (Details Narrative)
 3 Months Ended 12 Months Ended
Jun. 18, 2024
Mar. 31, 2025
Mar. 31, 2024
Bottom of range [member]      
IfrsStatementLineItems [Line Items]      
Proportion of ownership interest in subsidiary     1.41%
Top of range [member]      
IfrsStatementLineItems [Line Items]      
Proportion of ownership interest in subsidiary     35.54%
Adventure and Nature Network Pvt. Ltd. [member]      
IfrsStatementLineItems [Line Items]      
Proportion of ownership interest in joint venture 50.00% 50.00%  
v3.25.2
Schedule of comparison by class of carrying amount and fair value of the group's financial instruments (Details) - INR (₨)
₨ in Thousands
Mar. 31, 2025
Mar. 31, 2024
IfrsStatementLineItems [Line Items]    
Financial liabilities, at fair value ₨ 784,013 ₨ 1,057,161
Financial liabilities at amortised cost, category [member]    
IfrsStatementLineItems [Line Items]    
Financial liabilities 3,831,006 3,880,990
Financial liabilities, at fair value 3,831,006 3,880,990
Financial liabilities at amortised cost, category [member] | Trade and other payables [Member]    
IfrsStatementLineItems [Line Items]    
Financial liabilities 2,953,069 2,608,087
Financial liabilities, at fair value 2,953,069 2,608,087
Financial liabilities at amortised cost, category [member] | Borrowings short term and long term [member]    
IfrsStatementLineItems [Line Items]    
Financial liabilities 545,864 638,192
Financial liabilities, at fair value 545,864 638,192
Financial liabilities at amortised cost, category [member] | Other liabilities [member]    
IfrsStatementLineItems [Line Items]    
Financial liabilities 93,924 418,969
Financial liabilities, at fair value 93,924 418,969
Financial liabilities at amortised cost, category [member] | Lease liabilities [member]    
IfrsStatementLineItems [Line Items]    
Financial liabilities 238,149 215,742
Financial liabilities, at fair value 238,149 215,742
Financial assets at amortised cost, category [member]    
IfrsStatementLineItems [Line Items]    
Financial assets 7,683,649 9,304,314
Financial assets, at fair value 7,683,649 9,304,314
Financial assets at amortised cost, category [member] | Trade receivables [member]    
IfrsStatementLineItems [Line Items]    
Financial assets 5,568,241 4,637,243
Financial assets, at fair value 5,568,241 4,637,243
Financial assets at amortised cost, category [member] | Cash and Cash Equivalent [Member]    
IfrsStatementLineItems [Line Items]    
Financial assets 605,802 1,741,950
Financial assets, at fair value 605,802 1,741,950
Financial assets at amortised cost, category [member] | Term deposits [member]    
IfrsStatementLineItems [Line Items]    
Financial assets 1,354,170 2,757,824
Financial assets, at fair value 1,300,155 2,757,824
Financial assets at amortised cost, category [member] | Other financial assets [member]    
IfrsStatementLineItems [Line Items]    
Financial assets 155,436 167,297
Financial assets, at fair value ₨ 155,436 ₨ 167,297
v3.25.2
Schedule of financial instruments by fair value hierarchy (Details) - INR (₨)
₨ in Thousands
Mar. 31, 2025
Mar. 31, 2024
IfrsStatementLineItems [Line Items]    
Financial liabilities, at fair value ₨ 784,013 ₨ 1,057,161
Financial liabilities at amortised cost, category [member]    
IfrsStatementLineItems [Line Items]    
Financial liabilities, at fair value 3,831,006 3,880,990
Level 1 of fair value hierarchy [member] | Financial liabilities at amortised cost, category [member]    
IfrsStatementLineItems [Line Items]    
Financial liabilities, at fair value
Level 2 of fair value hierarchy [member]    
IfrsStatementLineItems [Line Items]    
Financial liabilities, at fair value 784,013 1,057,161
Level 3 of fair value hierarchy [member]    
IfrsStatementLineItems [Line Items]    
Financial liabilities, at fair value
At fair value [member]    
IfrsStatementLineItems [Line Items]    
Financial liabilities, at fair value 784,013 1,057,161
Borrowings short term and long term [member] | Financial liabilities at amortised cost, category [member]    
IfrsStatementLineItems [Line Items]    
Financial liabilities, at fair value 545,864 638,192
Borrowings short term and long term [member] | Level 1 of fair value hierarchy [member] | Financial liabilities at amortised cost, category [member]    
IfrsStatementLineItems [Line Items]    
Financial liabilities, at fair value
Borrowings short term and long term [member] | Level 2 of fair value hierarchy [member] | Financial liabilities at amortised cost, category [member]    
IfrsStatementLineItems [Line Items]    
Financial liabilities, at fair value 545,864 638,192
Borrowings short term and long term [member] | Level 3 of fair value hierarchy [member] | Financial liabilities at amortised cost, category [member]    
IfrsStatementLineItems [Line Items]    
Financial liabilities, at fair value
Borrowings short term and long term [member] | At fair value [member] | Financial liabilities at amortised cost, category [member]    
IfrsStatementLineItems [Line Items]    
Financial liabilities, at fair value 545,864 638,192
Other liabilities [member] | Financial liabilities at amortised cost, category [member]    
IfrsStatementLineItems [Line Items]    
Financial liabilities, at fair value 238,149 418,969
Other liabilities [member] | Level 1 of fair value hierarchy [member] | Financial liabilities at amortised cost, category [member]    
IfrsStatementLineItems [Line Items]    
Financial liabilities, at fair value
Other liabilities [member] | Level 2 of fair value hierarchy [member] | Financial liabilities at amortised cost, category [member]    
IfrsStatementLineItems [Line Items]    
Financial liabilities, at fair value 238,149 418,969
Other liabilities [member] | Level 3 of fair value hierarchy [member] | Financial liabilities at amortised cost, category [member]    
IfrsStatementLineItems [Line Items]    
Financial liabilities, at fair value
Other liabilities [member] | At fair value [member] | Financial liabilities at amortised cost, category [member]    
IfrsStatementLineItems [Line Items]    
Financial liabilities, at fair value 238,149 418,969
Assets for which fair value is disclosed [member]    
IfrsStatementLineItems [Line Items]    
Financial assets, at fair value 1,509,606 2,925,121
Assets for which fair value is disclosed [member] | Level 1 of fair value hierarchy [member]    
IfrsStatementLineItems [Line Items]    
Financial assets, at fair value
Assets for which fair value is disclosed [member] | Level 2 of fair value hierarchy [member]    
IfrsStatementLineItems [Line Items]    
Financial assets, at fair value 1,509,606 2,925,121
Assets for which fair value is disclosed [member] | Level 3 of fair value hierarchy [member]    
IfrsStatementLineItems [Line Items]    
Financial assets, at fair value
Assets for which fair value is disclosed [member] | At fair value [member]    
IfrsStatementLineItems [Line Items]    
Financial assets, at fair value 1,509,606 2,925,121
Assets for which fair value is disclosed [member] | Term deposits [member]    
IfrsStatementLineItems [Line Items]    
Financial assets, at fair value 1,354,170 2,757,824
Assets for which fair value is disclosed [member] | Term deposits [member] | Level 1 of fair value hierarchy [member]    
IfrsStatementLineItems [Line Items]    
Financial assets, at fair value
Assets for which fair value is disclosed [member] | Term deposits [member] | Level 2 of fair value hierarchy [member]    
IfrsStatementLineItems [Line Items]    
Financial assets, at fair value 1,354,170 2,757,824
Assets for which fair value is disclosed [member] | Term deposits [member] | Level 3 of fair value hierarchy [member]    
IfrsStatementLineItems [Line Items]    
Financial assets, at fair value
Assets for which fair value is disclosed [member] | Term deposits [member] | At fair value [member]    
IfrsStatementLineItems [Line Items]    
Financial assets, at fair value 1,354,170 2,757,824
Assets for which fair value is disclosed [member] | Other financial assets [member]    
IfrsStatementLineItems [Line Items]    
Financial assets, at fair value 155,436 167,297
Assets for which fair value is disclosed [member] | Other financial assets [member] | Level 1 of fair value hierarchy [member]    
IfrsStatementLineItems [Line Items]    
Financial assets, at fair value
Assets for which fair value is disclosed [member] | Other financial assets [member] | Level 2 of fair value hierarchy [member]    
IfrsStatementLineItems [Line Items]    
Financial assets, at fair value 155,436 167,297
Assets for which fair value is disclosed [member] | Other financial assets [member] | Level 3 of fair value hierarchy [member]    
IfrsStatementLineItems [Line Items]    
Financial assets, at fair value
Assets for which fair value is disclosed [member] | Other financial assets [member] | At fair value [member]    
IfrsStatementLineItems [Line Items]    
Financial assets, at fair value ₨ 155,436 ₨ 167,297
v3.25.2
Schedule of revenue by product type and customer type (Details)
₨ in Thousands, $ in Thousands
 12 Months Ended
Mar. 31, 2025
USD ($)
Mar. 31, 2025
INR (₨)
Mar. 31, 2024
INR (₨)
Mar. 31, 2023
INR (₨)
Disclosure of products and services [line items]        
 Rendering of services $ 86,427 ₨ 7,383,464 ₨ 3,583,798 ₨ 3,405,548
Air ticketing services [member]        
Disclosure of products and services [line items]        
 Rendering of services   1,925,254 1,729,305 1,779,972
Hotels And Packages Services [Member]        
Disclosure of products and services [line items]        
 Rendering of services   5,138,044 1,693,962 1,471,270
Other services [member]        
Disclosure of products and services [line items]        
 Rendering of services   ₨ 320,166 ₨ 160,531 ₨ 154,306
v3.25.2
Schedule of contract assets (Details) - INR (₨)
₨ in Thousands
Mar. 31, 2025
Mar. 31, 2024
Mar. 31, 2023
Rendering Of Services      
Contract Assets ₨ 190,598
v3.25.2
Schedule changes in contract assets (Details) - INR (₨)
₨ in Thousands
 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Rendering Of Services    
Balance at the beginning of the year ₨ 190,598
Revenue recognized during the year [1]
Billed during the year (190,598)
Balance at the end of the year
[1] Refer to Note 8.1 above for details about contract assets for the year ended March 31, 2024.
v3.25.2
Schedule of contract liabilities (Details) - INR (₨)
₨ in Thousands
Mar. 31, 2025
Mar. 31, 2024
Disclosure of disaggregation of revenue from contracts with customers [line items]    
Contract liabilities ₨ 1,029,978 ₨ 625,538
Advances from customer [member]    
Disclosure of disaggregation of revenue from contracts with customers [line items]    
Contract liabilities 1,027,588 622,178
Deferred revenue [member]    
Disclosure of disaggregation of revenue from contracts with customers [line items]    
Contract liabilities ₨ 2,390 ₨ 3,360
v3.25.2
Rendering of services (Details Narrative) - INR (₨)
₨ in Thousands
 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Mar. 31, 2023
Disclosure of disaggregation of revenue from contracts with customers [line items]      
Revenue ₨ 7,954,522 ₨ 4,189,897 ₨ 3,827,265
Contract assets 190,598
Increase in contract liabilities due to advances received from customers   622,178 525,638
Decrease in contract liabilities due to recognized in revenue 520,441 344,841  
Decrease in contract liabilities due to refunded to customers 9,103 9,662  
Increase in contract liabilities 88,046  
Air ticketing services [member]      
Disclosure of disaggregation of revenue from contracts with customers [line items]      
Revenue     ₨ 185,991
Contract assets   185,991  
Advances from customer [member]      
Disclosure of disaggregation of revenue from contracts with customers [line items]      
Increase in contract liabilities due to advances received from customers ₨ 1,027,588 ₨ 622,178  
v3.25.2
Schedule of other revenue (Details)
₨ in Thousands, $ in Thousands
 12 Months Ended
Mar. 31, 2025
USD ($)
Mar. 31, 2025
INR (₨)
Mar. 31, 2024
INR (₨)
Mar. 31, 2023
INR (₨)
DisclosureOfOtherRevenueLineItems [Line Items]        
Other revenue $ 6,685 ₨ 571,058 ₨ 606,099 ₨ 421,717
Marketing Revenue [Member]        
DisclosureOfOtherRevenueLineItems [Line Items]        
Other revenue   ₨ 571,058 ₨ 606,099 ₨ 421,717
v3.25.2
Schedule of other income (Details)
₨ in Thousands, $ in Thousands
 12 Months Ended
Mar. 31, 2025
USD ($)
Mar. 31, 2025
INR (₨)
Mar. 31, 2024
INR (₨)
Mar. 31, 2023
INR (₨)
Other Income        
Liability no longer required to be paid   ₨ 106,571 ₨ 100,492 ₨ 140,693
Gain on termination/rent concession of leases (Refer note 42)   619 1,811
Gain on sale of property, plant and equipment (net)   770 705 3,800
Miscellaneous income   997 1,165 6,216
Total $ 1,275 ₨ 108,957 ₨ 102,362 ₨ 152,520
v3.25.2
Schedule of personnel expenses (Details)
₨ in Thousands, $ in Thousands
 12 Months Ended
Mar. 31, 2025
USD ($)
Mar. 31, 2025
INR (₨)
Mar. 31, 2024
INR (₨)
Mar. 31, 2023
INR (₨)
Personnel Expenses        
Salaries, wages and other short term employee benefits   ₨ 1,346,103 ₨ 1,020,823 ₨ 907,523
Contributions to defined contribution plans   63,661 54,683 47,321
Expenses related to defined benefit plans (Refer note 34)   17,216 10,490 11,321
Share based compensation costs (Refer note 30)   124,787 229,260 152,054
Employee welfare expenses   44,491 32,959 30,215
Total $ 18,685 ₨ 1,596,258 ₨ 1,348,215 ₨ 1,148,434
v3.25.2
Schedule of other operating expenses (Details)
₨ in Thousands, $ in Thousands
 12 Months Ended
Mar. 31, 2025
USD ($)
Mar. 31, 2025
INR (₨)
Mar. 31, 2024
INR (₨)
Mar. 31, 2023
INR (₨)
Other Operating Expenses        
Commission   ₨ 304,932 ₨ 360,877 ₨ 315,137
Communication   210,303 179,656 164,637
Legal and professional fees   480,944 346,867 301,252
Outsourcing fees   36,054 35,924 28,764
Payment gateway and other charges   414,969 511,948 397,590
Bad debts written-off and allowance for credit impaired receivables and other advances   84,415 (43,697) 154,607
Duties and taxes   51,985 2,606 14,632
Rent (Refer note 42)   10,968 3,646 1,832
Repairs and maintenance   59,728 48,056 44,387
Travelling and conveyance   38,868 41,200 32,126
Insurance   48,139 55,637 76,170
Corporate social responsibility (CSR) expense   4,998
Miscellaneous expenses   33,162 36,632 23,829
Total $ 20,830 ₨ 1,779,465 ₨ 1,579,352 ₨ 1,554,963
v3.25.2
Schedule of depreciation and amortization (Details)
₨ in Thousands, $ in Thousands
 12 Months Ended
Mar. 31, 2025
USD ($)
Mar. 31, 2025
INR (₨)
Mar. 31, 2024
INR (₨)
Mar. 31, 2023
INR (₨)
Depreciation and amortisation expense [abstract]        
Depreciation   ₨ 40,771 ₨ 20,336 ₨ 14,307
Amortization   206,682 122,920 119,196
Depreciation on right of use assets   61,446 54,271 56,649
Total $ 3,616 ₨ 308,899 ₨ 197,527 ₨ 190,152
v3.25.2
Schedule of financial position and profit or loss of ANN (Details)
₨ in Thousands, $ in Thousands
Mar. 31, 2025
USD ($)
Mar. 31, 2025
INR (₨)
Jun. 18, 2024
INR (₨)
Mar. 31, 2024
USD ($)
Mar. 31, 2024
INR (₨)
Mar. 31, 2023
INR (₨)
Mar. 31, 2022
INR (₨)
Current Assets              
Cash and cash equivalents $ 6,422 ₨ 548,668   $ 20,390 ₨ 1,741,950 ₨ 503,601 ₨ 800,282
Other current financial assets 758 64,722     134,930    
Non-current liabilities              
Employee benefits (771) (65,830)     (55,850)    
Current liabilities              
Borrowings   (545,864)     (638,192)    
Trade and other payables   (2,953,069)     (2,608,087)    
Employee benefits (732) (62,550)     (41,307)    
Equity $ (92,529) ₨ (7,904,834)     (7,760,272) ₨ (719,319) ₨ (892,241)
Adventure and Nature Network Pvt. Ltd. [member]              
Current Assets              
Cash and cash equivalents     ₨ 2,872   1,582    
Other current financial assets     338   1,818    
Non-current liabilities              
Employee benefits     (151)   (246)    
Current liabilities              
Borrowings     (109,043)   (63,500)    
Trade and other payables       (12,474)    
Employee benefits     (209)   (197)    
Other non-financial liability     (2,343)   (35,163)    
Equity     (108,536)   (108,180)    
Group’s carrying amount of the investment (50%)     (54,268)   (54,090)    
True-up of carrying value to group share loss     54,268   54,090    
Net carrying amount of investment          
v3.25.2
Summarized financial position and profit or loss of ANN (Details) (Parenthetical) - INR (₨)
₨ in Thousands
 3 Months Ended 12 Months Ended
Jun. 18, 2024
Mar. 31, 2025
Mar. 31, 2024
Mar. 31, 2023
InvestmentInJointVentureLineItems [Line Items]        
Depreciation   ₨ 40,771 ₨ 20,336 ₨ 14,307
Adventure and Nature Network Pvt. Ltd. [member]        
InvestmentInJointVentureLineItems [Line Items]        
Precentage of group's carrying amount of the investment 50.00% 50.00%    
Depreciation  
v3.25.2
Summarized financial position and profit or loss of ANN (Details)
₨ in Thousands, $ in Thousands
 3 Months Ended 12 Months Ended
Jun. 18, 2024
INR (₨)
Mar. 31, 2025
USD ($)
Mar. 31, 2025
INR (₨)
Mar. 31, 2024
INR (₨)
Mar. 31, 2023
INR (₨)
InvestmentInJointVentureLineItems [Line Items]          
Revenue     ₨ 7,954,522 ₨ 4,189,897 ₨ 3,827,265
Finance cost   $ (1,251) (106,877) (286,998) (326,399)
(Loss)/ Profit before taxes   124 10,652 (329,331) (241,380)
Tax expense   150 12,849 (37,174) (46,788)
(Loss)/ Profit for the year   $ 274 ₨ 23,501 (366,505) (288,168)
Adventure and Nature Network Pvt. Ltd. [member]          
InvestmentInJointVentureLineItems [Line Items]          
Revenue ₨ 710     3,417 7,554
Other operating expenses, including depreciation INR Nil (March 31, 2024: INR Nil and March 31, 2023: INR NIL) (926)     (8,506) (5,931)
Finance cost (242)     (600) (9,230)
(Loss)/ Profit before taxes (458)     (5,689) (7,607)
Tax expense    
(Loss)/ Profit for the year (458)     (5,689) (7,607)
Group’s share of loss for the year/period ₨ (229)     ₨ (2,845) ₨ (3,803)
v3.25.2
Investment in joint venture (Details Narrative) - INR (₨)
Jun. 19, 2024
Mar. 31, 2025
Jun. 18, 2024
Mar. 31, 2024
Mar. 31, 2023
InvestmentInJointVentureLineItems [Line Items]          
Contingent liabilities   ₨ 1,146,824   ₨ 713,159  
Adventure and Nature Network Pvt. Ltd. [member]          
InvestmentInJointVentureLineItems [Line Items]          
Contingent liabilities     ₨ 4,126,000 ₨ 4,126,000 ₨ 4,321,000
Share purchase agreement [Member] | Snow Leopard Adventures Private Limited [Member]          
InvestmentInJointVentureLineItems [Line Items]          
Cash consideration ₨ 9,800,000        
Share purchase agreement [Member] | Adventure And Nature Network Pvt Ltd [Member]          
InvestmentInJointVentureLineItems [Line Items]          
Percentage of voting equity interests acquired 49.00%        
v3.25.2
Schedule of finance income (Details)
₨ in Thousands, $ in Thousands
 12 Months Ended
Mar. 31, 2025
USD ($)
Mar. 31, 2025
INR (₨)
Mar. 31, 2024
INR (₨)
Mar. 31, 2023
INR (₨)
Interest income on :        
- Bank deposits recognized at amortized cost   ₨ 154,160 ₨ 160,784 ₨ 14,354
- Others   49,263 6,528 3,521
Foreign exchange gain (net)   7,655
Unwinding of other financial assets   4,401 3,402 3,414
Total $ 2,433 ₨ 207,824 ₨ 170,714 ₨ 28,944
v3.25.2
Schedule of finance cost (Details)
₨ in Thousands, $ in Thousands
 12 Months Ended
Mar. 31, 2025
USD ($)
Mar. 31, 2025
INR (₨)
Mar. 31, 2024
INR (₨)
Mar. 31, 2023
INR (₨)
Finance Cost        
Bank charges   ₨ 26,044 ₨ 25,120 ₨ 78,091
Foreign exchange loss (net)   3,876 20,790
Interest on borrowings recognized at amortized cost   43,844 207,089 129,888
Interest on lease liabilities (Refer note 42)   32,608 32,267 35,992
Unwinding of other financial liabilities   51,878
Others   505 1,732 30,550
Total $ 1,251 ₨ 106,877 ₨ 286,998 ₨ 326,399
v3.25.2
Schedule of loss before income taxes (Details)
₨ in Thousands, $ in Thousands
 12 Months Ended
Mar. 31, 2025
USD ($)
Mar. 31, 2025
INR (₨)
Mar. 31, 2024
INR (₨)
Mar. 31, 2023
INR (₨)
IncomeTaxesLineItems [Line Items]        
Loss/ (Profit) for the year before income taxes $ 124 ₨ 10,652 ₨ (329,331) ₨ (241,380)
Country of domicile [member]        
IncomeTaxesLineItems [Line Items]        
Loss/ (Profit) for the year before income taxes   (347,504) (273,102) (353,088)
Foreign countries [member]        
IncomeTaxesLineItems [Line Items]        
Loss/ (Profit) for the year before income taxes   ₨ 358,156 ₨ (56,229) ₨ 111,708
v3.25.2
Summary of components of income tax expense (Details)
₨ in Thousands, $ in Thousands
 12 Months Ended
Mar. 31, 2025
USD ($)
Mar. 31, 2025
INR (₨)
Mar. 31, 2024
INR (₨)
Mar. 31, 2023
INR (₨)
Income Taxes        
Current year   ₨ 11,636 ₨ 39,045 ₨ 52,046
Adjustment related to previous year   (9,008)
Current income tax expenses   2,628 39,045 52,046
Origination and reversal of temporary differences   (15,477) (1,871) (5,258)
Deferred tax expense   (15,477) (1,871) (5,258)
Total income tax expenses/ (benefit) as reported in statement of profit or loss $ (150) ₨ (12,849) ₨ 37,174 ₨ 46,788
v3.25.2
Reconciliation of tax expense and accounting profit multiplied by tax rate (Details)
₨ in Thousands, $ in Thousands
 12 Months Ended
Mar. 31, 2025
USD ($)
Mar. 31, 2025
INR (₨)
Mar. 31, 2024
INR (₨)
Mar. 31, 2023
INR (₨)
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]        
(Loss)/ Profit for the year $ 274 ₨ 23,501 ₨ (366,505) ₨ (288,168)
Total income tax expense $ (150) (12,849) 37,174 46,788
(Loss)/ Profit before income taxes [1]   10,652 (329,331) (241,380)
Expected tax expense at statutory income tax rate [2]   84,863 (165) 32,760
Non-deductible expenses   1,138 17,026 19,074
Utilization of previously unrecognized tax losses   (35,867) (29,260) (42,671)
Current year losses for which no deferred tax asset was recognized   (37,497) 83,574 36,761
Change in unrecognized temporary differences   (11,639) (35,638) 209
Effect of change in tax rate   (5,726) (1,908)
Others   ₨ (8,121) ₨ 1,637 ₨ 2,563
Singapore [Member]        
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]        
Applicable tax rate 17.00% 17.00% 17.00% 17.00%
[1] Refer to Note A above for breakup of loss before tax into domestic (Parent Company) and foreign operations (subsidiaries).
[2] The domicile of the Parent Company is Cayman Islands wherein the applicable tax rate is Nil (March 31, 2024: Nil, March 31, 2023: Nil)The Group’s two major tax jurisdictions are India and Singapore with tax rates ranging between 25.17% to 26.00% (March 31, 2024: 25.17% to 26.00% and March 31, 2023: 25.17% to 26.00%) in India and 17% (March 31, 2024: 17% and March 31, 2023: 17%) in Singapore, that have been applied to profit or loss of the respective jurisdiction for determination of expected tax expense.
v3.25.2
Reconciliation of tax expense and accounting profit multiplied by tax rate (Details) (Parenthetical)
 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Mar. 31, 2023
India [member] | Bottom of range [member]      
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]      
Applicable tax rate 25.17% 25.17% 25.17%
India [member] | Top of range [member]      
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]      
Applicable tax rate 26.00% 26.00% 26.00%
Singapore [Member]      
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]      
Applicable tax rate 17.00% 17.00% 17.00%
v3.25.2
Summary of income and share data used in the basic and diluted loss per share computations (Details)
 12 Months Ended
Mar. 31, 2025
$ / shares
Mar. 31, 2025
INR (₨)
₨ / shares
shares
Mar. 31, 2024
INR (₨)
₨ / shares
shares
Mar. 31, 2023
INR (₨)
₨ / shares
shares
Loss Per Share        
Loss attributable to ordinary shareholders - Basic | ₨   ₨ (106,925) ₨ (350,943) ₨ (289,243)
Weighted average number of ordinary shares outstanding used in computing basic loss per share | shares   61,875,719 62,672,527 62,991,006
Basic loss per share | (per share) $ (0.02) ₨ (1.73) ₨ (5.60) ₨ (4.59)
Loss attributable to ordinary shareholders-Dilutive | ₨   ₨ (106,925) ₨ (350,943) ₨ (289,243)
Weighted average number of ordinary shares outstanding used in computing diluted loss per share | shares   61,875,719 62,672,527 62,991,006
Diluted loss per share | (per share) $ (0.02) ₨ (1.73) ₨ (5.60) ₨ (4.59)
v3.25.2
Reconciliation of changes in property, plant and equipment (Details)
₨ in Thousands, $ in Thousands
 12 Months Ended
Mar. 31, 2025
USD ($)
Mar. 31, 2025
INR (₨)
Mar. 31, 2024
INR (₨)
Disclosure of detailed information about property, plant and equipment [line items]      
Beginning of the year   ₨ 73,835  
End of the year $ 1,602 136,824 ₨ 73,835
Leasehold improvements [member]      
Disclosure of detailed information about property, plant and equipment [line items]      
Beginning of the year   1  
End of the year   903 1
Computer equipment [member]      
Disclosure of detailed information about property, plant and equipment [line items]      
Beginning of the year   30,080  
End of the year   51,694 30,080
Fixtures and fittings [member]      
Disclosure of detailed information about property, plant and equipment [line items]      
Beginning of the year   363  
End of the year   1,160 363
Vehicles [member]      
Disclosure of detailed information about property, plant and equipment [line items]      
Beginning of the year   42,491  
End of the year   39,623 42,491
Office equipment [member]      
Disclosure of detailed information about property, plant and equipment [line items]      
Beginning of the year   900  
End of the year   2,775 900
Office buildings [member]      
Disclosure of detailed information about property, plant and equipment [line items]      
Beginning of the year    
End of the year   40,669
Gross carrying amount [member]      
Disclosure of detailed information about property, plant and equipment [line items]      
Beginning of the year   455,260 417,836
Additions   66,378 49,447
Disposals   (38,137) (12,023)
Effects of movements in foreign exchange rates  
Additions   46,035  
End of the year   529,536 455,260
Gross carrying amount [member] | Leasehold improvements [member]      
Disclosure of detailed information about property, plant and equipment [line items]      
Beginning of the year   228 228
Additions   955
Disposals  
Effects of movements in foreign exchange rates  
Additions    
End of the year   1,183 228
Gross carrying amount [member] | Computer equipment [member]      
Disclosure of detailed information about property, plant and equipment [line items]      
Beginning of the year   334,944 318,321
Additions   39,548 26,598
Disposals   (15,562) (9,975)
Effects of movements in foreign exchange rates  
Additions   3,197  
End of the year   362,127 334,944
Gross carrying amount [member] | Fixtures and fittings [member]      
Disclosure of detailed information about property, plant and equipment [line items]      
Beginning of the year   2,544 2,480
Additions   93 64
Disposals  
Effects of movements in foreign exchange rates  
Additions   909  
End of the year   3,546 2,544
Gross carrying amount [member] | Vehicles [member]      
Disclosure of detailed information about property, plant and equipment [line items]      
Beginning of the year   91,941 71,595
Additions   23,838 22,392
Disposals   (21,817) (2,046)
Effects of movements in foreign exchange rates  
Additions   47  
End of the year   94,009 91,941
Gross carrying amount [member] | Office equipment [member]      
Disclosure of detailed information about property, plant and equipment [line items]      
Beginning of the year   25,603 25,212
Additions   1,944 393
Disposals   (758) (2)
Effects of movements in foreign exchange rates  
Additions   846  
End of the year   27,635 25,603
Gross carrying amount [member] | Office buildings [member]      
Disclosure of detailed information about property, plant and equipment [line items]      
Beginning of the year  
Additions  
Disposals  
Effects of movements in foreign exchange rates  
Additions   41,036  
End of the year   41,036
Depreciation [Member]      
Disclosure of detailed information about property, plant and equipment [line items]      
Beginning of the year   381,425 371,994
Disposals   (29,484) (10,905)
Charge for the year   40,771 20,336
Effects of movements in foreign exchange rates  
End of the year   392,712 381,425
Depreciation [Member] | Leasehold improvements [member]      
Disclosure of detailed information about property, plant and equipment [line items]      
Beginning of the year   227 227
Disposals  
Charge for the year   53
Effects of movements in foreign exchange rates  
End of the year   280 227
Depreciation [Member] | Computer equipment [member]      
Disclosure of detailed information about property, plant and equipment [line items]      
Beginning of the year   304,864 309,248
Disposals   (15,527) (9,975)
Charge for the year   21,096 5,591
Effects of movements in foreign exchange rates  
End of the year   310,433 304,864
Depreciation [Member] | Fixtures and fittings [member]      
Disclosure of detailed information about property, plant and equipment [line items]      
Beginning of the year   2,181 2,060
Disposals  
Charge for the year   205 121
Effects of movements in foreign exchange rates  
End of the year   2,386 2,181
Depreciation [Member] | Vehicles [member]      
Disclosure of detailed information about property, plant and equipment [line items]      
Beginning of the year   49,450 36,512
Disposals   (13,188) (930)
Charge for the year   18,124 13,868
Effects of movements in foreign exchange rates    
End of the year   54,386 49,450
Depreciation [Member] | Office equipment [member]      
Disclosure of detailed information about property, plant and equipment [line items]      
Beginning of the year   24,703 23,947
Disposals   (769)
Charge for the year   926 756
Effects of movements in foreign exchange rates  
End of the year   24,860 24,703
Depreciation [Member] | Office buildings [member]      
Disclosure of detailed information about property, plant and equipment [line items]      
Beginning of the year  
Disposals  
Charge for the year   367
Effects of movements in foreign exchange rates  
End of the year   ₨ 367
v3.25.2
Property, plant and equipment (Details Narrative) - INR (₨)
₨ in Thousands
 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Mar. 31, 2023
Disclosure of detailed information about property, plant and equipment [line items]      
Depreciation expense ₨ 40,771 ₨ 20,336 ₨ 14,307
Vehicles held under vehicle loan [Member]      
Disclosure of detailed information about property, plant and equipment [line items]      
Depreciation expense 14,755 12,323  
2016 stock option and incentive plan [member]      
Disclosure of detailed information about property, plant and equipment [line items]      
Property, plant and equipment, pledged as security 38,831 34,022  
Gross carrying amount [member] | Vehicles held under vehicle loan [Member]      
Disclosure of detailed information about property, plant and equipment [line items]      
Depreciation expense 65,291 50,828  
Accumulated depreciation and amortisation [member]      
Disclosure of detailed information about property, plant and equipment [line items]      
Property, plant and equipment, pledged as security ₨ 26,460 ₨ 16,806  
v3.25.2
Schedule of reconciliation of changes in intangible assets and goodwill, including gross, amortization, and net amounts (Details)
₨ in Thousands, $ in Thousands
 12 Months Ended
Mar. 31, 2025
USD ($)
Mar. 31, 2025
INR (₨)
Mar. 31, 2024
INR (₨)
IfrsStatementLineItems [Line Items]      
Balance at beginning of year   ₨ 913,434  
On account of business combination   723,529  
Balance at end of year $ 27,449 2,344,983 ₨ 913,434
Computer software [member]      
IfrsStatementLineItems [Line Items]      
Balance at beginning of year   285,939  
Balance at end of year   367,708 285,939
Copyrights, patents and other industrial property rights, service and operating rights [member]      
IfrsStatementLineItems [Line Items]      
Balance at beginning of year    
Balance at end of year  
Agent / Supplier Relationships [member]      
IfrsStatementLineItems [Line Items]      
Balance at beginning of year    
Balance at end of year   132,937
Customer-related intangible assets [member]      
IfrsStatementLineItems [Line Items]      
Balance at beginning of year   17,958  
Balance at end of year   191,563 17,958
Noncompete agreements [Member]      
IfrsStatementLineItems [Line Items]      
Balance at beginning of year    
Balance at end of year  
Brand names [member]      
IfrsStatementLineItems [Line Items]      
Balance at beginning of year    
Balance at end of year   304,213
Goodwill [member]      
IfrsStatementLineItems [Line Items]      
Balance at beginning of year   528,191  
Balance at end of year   1,251,720 528,191
Intangible assets under development [member]      
IfrsStatementLineItems [Line Items]      
Balance at beginning of year   81,346  
Balance at end of year   96,842 81,346
Noncompete agreements [Member]      
IfrsStatementLineItems [Line Items]      
Balance at beginning of year   4,606,691 4,349,316
Additions   517,575 473,766
Disposals   (248,888) (216,391)
Effects of movements in foreign exchange rates  
On account of business combination   1,369,544  
Balance at end of year   6,244,922 4,606,691
Noncompete agreements [Member] | Computer software [member]      
IfrsStatementLineItems [Line Items]      
Balance at beginning of year   2,795,032 2,575,731
Additions   253,191 219,301
Disposals  
Effects of movements in foreign exchange rates  
On account of business combination   2,529  
Balance at end of year   3,050,752 2,795,032
Noncompete agreements [Member] | Copyrights, patents and other industrial property rights, service and operating rights [member]      
IfrsStatementLineItems [Line Items]      
Balance at beginning of year   59,209 59,209
Additions  
Disposals  
Charge for the year    
Effects of movements in foreign exchange rates  
On account of business combination    
Balance at end of year   59,209 59,209
Noncompete agreements [Member] | Agent / Supplier Relationships [member]      
IfrsStatementLineItems [Line Items]      
Balance at beginning of year   222,169 222,169
Additions  
Disposals  
Charge for the year    
Effects of movements in foreign exchange rates  
On account of business combination   138,030  
Balance at end of year   360,199 222,169
Noncompete agreements [Member] | Customer-related intangible assets [member]      
IfrsStatementLineItems [Line Items]      
Balance at beginning of year   140,336 140,336
Additions  
Disposals  
Charge for the year    
Effects of movements in foreign exchange rates  
On account of business combination   189,586  
Balance at end of year   329,922 140,336
Noncompete agreements [Member] | Noncompete agreements [Member]      
IfrsStatementLineItems [Line Items]      
Balance at beginning of year   22,171 22,171
Additions  
Disposals  
Charge for the year    
Effects of movements in foreign exchange rates  
On account of business combination    
Balance at end of year   22,171 22,171
Noncompete agreements [Member] | Brand names [member]      
IfrsStatementLineItems [Line Items]      
Balance at beginning of year   271,329 271,329
Additions  
Disposals  
Charge for the year    
Effects of movements in foreign exchange rates  
On account of business combination   315,870  
Balance at end of year   587,199 271,329
Noncompete agreements [Member] | Goodwill [member]      
IfrsStatementLineItems [Line Items]      
Balance at beginning of year   1,015,099 1,015,099
Additions  
Disposals  
Charge for the year    
Effects of movements in foreign exchange rates  
On account of business combination   723,529  
Balance at end of year   1,738,628 1,015,099
Noncompete agreements [Member] | Intangible assets under development [member]      
IfrsStatementLineItems [Line Items]      
Balance at beginning of year   81,346 43,272
Additions   264,384 254,465
Disposals [1]   (248,888) (216,391)
Charge for the year    
Effects of movements in foreign exchange rates  
On account of business combination    
Balance at end of year   96,842 81,346
Amortisation and Impairment [member]      
IfrsStatementLineItems [Line Items]      
Balance at beginning of year   3,693,257 3,570,337
Disposals  
Charge for the year   206,682 122,920
Impairment of goodwill  
Effects of movements in foreign exchange rates  
Balance at end of year   3,899,939 3,693,257
Amortisation and Impairment [member] | Computer software [member]      
IfrsStatementLineItems [Line Items]      
Balance at beginning of year   2,509,093 2,395,502
Disposals  
Charge for the year   173,951 113,591
Impairment of goodwill  
Effects of movements in foreign exchange rates  
Balance at end of year   2,683,044 2,509,093
Amortisation and Impairment [member] | Copyrights, patents and other industrial property rights, service and operating rights [member]      
IfrsStatementLineItems [Line Items]      
Balance at beginning of year   59,209 59,209
Disposals  
Charge for the year  
Impairment of goodwill  
Effects of movements in foreign exchange rates  
Balance at end of year   59,209 59,209
Amortisation and Impairment [member] | Agent / Supplier Relationships [member]      
IfrsStatementLineItems [Line Items]      
Balance at beginning of year   222,169 222,169
Disposals  
Charge for the year   5,093
Impairment of goodwill  
Effects of movements in foreign exchange rates  
Balance at end of year   227,262 222,169
Amortisation and Impairment [member] | Customer-related intangible assets [member]      
IfrsStatementLineItems [Line Items]      
Balance at beginning of year   122,378 113,399
Disposals  
Charge for the year   15,981 8,979
Impairment of goodwill  
Effects of movements in foreign exchange rates  
Balance at end of year   138,359 122,378
Amortisation and Impairment [member] | Noncompete agreements [Member]      
IfrsStatementLineItems [Line Items]      
Balance at beginning of year   22,171 21,821
Disposals  
Charge for the year   350
Impairment of goodwill  
Effects of movements in foreign exchange rates  
Balance at end of year   22,171 22,171
Amortisation and Impairment [member] | Brand names [member]      
IfrsStatementLineItems [Line Items]      
Balance at beginning of year   271,329 271,329
Disposals  
Charge for the year   11,657
Impairment of goodwill  
Effects of movements in foreign exchange rates  
Balance at end of year   282,986 271,329
Amortisation and Impairment [member] | Goodwill [member]      
IfrsStatementLineItems [Line Items]      
Balance at beginning of year   486,908 486,908
Disposals  
Charge for the year  
Impairment of goodwill  
Effects of movements in foreign exchange rates  
Balance at end of year   486,908 486,908
Amortisation and Impairment [member] | Intangible assets under development [member]      
IfrsStatementLineItems [Line Items]      
Balance at beginning of year  
Disposals  
Charge for the year  
Impairment of goodwill  
Effects of movements in foreign exchange rates  
Balance at end of year  
[1] Intangible assets capitalized during the year.
v3.25.2
Schedule of carrying amount of goodwill (Details) - INR (₨)
₨ in Thousands
Mar. 31, 2025
Mar. 31, 2024
IntangibleAssetsAndGoodwillLineItems [Line Items]    
Total ₨ 1,251,720 ₨ 528,191
TSI Yatra Private Limited [member]    
IntangibleAssetsAndGoodwillLineItems [Line Items]    
Total 103,670 103,670
Yatra tg stays private limited and yatra hotel solutions private limited [member]    
IntangibleAssetsAndGoodwillLineItems [Line Items]    
Total 219,163 219,163
Yatra for business private limited [member]    
IntangibleAssetsAndGoodwillLineItems [Line Items]    
Total 205,358 205,358
Globe All India Services Limited [Member]    
IntangibleAssetsAndGoodwillLineItems [Line Items]    
Total ₨ 723,529
v3.25.2
Schedule of valuation method of recoverable amount (Details)
 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
TSI Yatra Private Limited [member]    
IntangibleAssetsAndGoodwillLineItems [Line Items]    
Fair value less costs of disposal   FVLCOD
Value in use Value in use  
Yatra for business private limited [member]    
IntangibleAssetsAndGoodwillLineItems [Line Items]    
Fair value less costs of disposal   Value in use
Value in use Value in use  
Yatra tg stays private limited and yatra hotel solutions private limited [member]    
IntangibleAssetsAndGoodwillLineItems [Line Items]    
Fair value less costs of disposal   FVLCOD
Value in use Value in use  
v3.25.2
Summary of key assumptions used in calculations of value in use for CGUs (Details)
 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Top of range [member]    
InvestmentInJointVentureLineItems [Line Items]    
EBITDA Margin 33.60%  
Yatra tg stays private limited and yatra hotel solutions private limited [member]    
InvestmentInJointVentureLineItems [Line Items]    
Terminal Value growth rate [1] 5.00% 4.00%
Yatra tg stays private limited and yatra hotel solutions private limited [member] | Bottom of range [member]    
InvestmentInJointVentureLineItems [Line Items]    
EBITDA Margin [1] 19.00% 22.54%
Yatra tg stays private limited and yatra hotel solutions private limited [member] | Top of range [member]    
InvestmentInJointVentureLineItems [Line Items]    
EBITDA Margin [1] 21.30% 23.63%
TSI Yatra Private Limited [member]    
InvestmentInJointVentureLineItems [Line Items]    
Pre-Tax Discount rate 29.79%  
Yatra for business private limited [member]    
InvestmentInJointVentureLineItems [Line Items]    
Pre-Tax Discount rate 28.59%  
Terminal Value growth rate 5.00%  
Yatra for business private limited [member] | Bottom of range [member]    
InvestmentInJointVentureLineItems [Line Items]    
EBITDA Margin 10.10%  
Bottom of range [member] | Yatra tg stays private limited and yatra hotel solutions private limited [member]    
InvestmentInJointVentureLineItems [Line Items]    
Pre-Tax Discount rate [1] 21.19% 24.05%
Bottom of range [member] | TSI Yatra Private Limited [member]    
InvestmentInJointVentureLineItems [Line Items]    
Terminal Value growth rate 5.00%  
EBITDA Margin 20.40%  
Top of range [member] | TSI Yatra Private Limited [member]    
InvestmentInJointVentureLineItems [Line Items]    
EBITDA Margin [1] 35.50%  
[1] Deferred tax asset acquired on account of acquisition of Globe All India Services Limited on September 10, 2024
v3.25.2
Schedule of EBITDA market multiple (Details)
Mar. 31, 2024
$ / shares
Bottom of range [member] | TSI Yatra Private Limited [member]  
IntangibleAssetsAndGoodwillLineItems [Line Items]  
EBITDA market multiple $ 14.2
Discount applied 10.00%
Bottom of range [member] | Yatra for business private limited [member]  
IntangibleAssetsAndGoodwillLineItems [Line Items]  
EBITDA market multiple $ 14.2
Discount applied 10.00%
Top of range [member] | TSI Yatra Private Limited [member]  
IntangibleAssetsAndGoodwillLineItems [Line Items]  
EBITDA market multiple $ 16.7
Discount applied 20.00%
Top of range [member] | Yatra for business private limited [member]  
IntangibleAssetsAndGoodwillLineItems [Line Items]  
EBITDA market multiple $ 16.7
Discount applied 20.00%
v3.25.2
Intangible assets and goodwill (Details Narrative)
₨ in Thousands
 12 Months Ended
Mar. 31, 2025
INR (₨)
Intangible Assets And Goodwill  
Business combination ₨ 723,529
v3.25.2
Schedule of current and non-current prepayments and other assets (Details)
₨ in Thousands, $ in Thousands
Mar. 31, 2025
USD ($)
Mar. 31, 2025
INR (₨)
Mar. 31, 2024
INR (₨)
Prepayments And Other Assets      
Advance to vendors (net of allowance)   ₨ 1,827,433 ₨ 1,298,798
Advance to joint venture (net of allowance) (Refer note 41)   6,319
Balance with statutory authorities   241,796 98,823
Prepaid expenses   70,426 63,399
Due from employees   23,801 8,328
Others   12,194
Total   2,163,456 1,487,861
Non-current      
Prepaid expenses   610 755
Total $ 7 ₨ 610 ₨ 755
v3.25.2
Schedule of changes in allowance for doubtful advances (Details) - Allowance for doubtful advances [member] - INR (₨)
₨ in Thousands
 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
AllowanceForDoubtfulAdvancesLineItems [Line Items]    
Balance at the beginning of the year ₨ 69,637 ₨ 59,612
Provisions accrued during the year 5,097 10,025
Amount written off during the year (6,970)
Balance at the end of the year ₨ 67,764 ₨ 69,637
v3.25.2
Schedule of other financial assets, Non-current (Details)
₨ in Thousands, $ in Thousands
Mar. 31, 2025
USD ($)
Mar. 31, 2025
INR (₨)
Mar. 31, 2024
INR (₨)
IfrsStatementLineItems [Line Items]      
Other financial assets, Non-current $ 1,062 ₨ 90,714 ₨ 24,039
Security deposits [member]      
IfrsStatementLineItems [Line Items]      
Other financial assets, Non-current   ₨ 90,714 ₨ 24,039
v3.25.2
Other financial assets, Non-current (Details Narrative) - INR (₨)
₨ in Thousands
 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
IfrsStatementLineItems [Line Items]    
Security deposits ₨ 40,319
Bottom of range [member]    
IfrsStatementLineItems [Line Items]    
Security deposits, non-current, remaining contractual term 6 years 1 year
Top of range [member]    
IfrsStatementLineItems [Line Items]    
Security deposits, non-current, remaining contractual term 9 years 4 years 6 months
v3.25.2
Schedule of term deposits (Details)
₨ in Thousands, $ in Thousands
Mar. 31, 2025
USD ($)
Mar. 31, 2025
INR (₨)
Mar. 31, 2024
INR (₨)
Term Deposits      
Fixed deposits with banks   ₨ 1,354,170 ₨ 2,757,824
Total   1,354,170 2,757,824
Non-current $ 524 44,770 137,169
Current $ 15,327 ₨ 1,309,400 ₨ 2,620,655
v3.25.2
Term deposits (Details Narrative) - INR (₨)
₨ in Thousands
 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
IfrsStatementLineItems [Line Items]    
Term deposits ₨ 686,851 ₨ 420,337
Bottom of range [member]    
IfrsStatementLineItems [Line Items]    
Term deposits, maturity 6 months  
Top of range [member]    
IfrsStatementLineItems [Line Items]    
Term deposits, maturity 5 years  
v3.25.2
Schedule of other non financial assets (Details)
₨ in Thousands, $ in Thousands
Mar. 31, 2025
USD ($)
Mar. 31, 2025
INR (₨)
Mar. 31, 2024
INR (₨)
Other Non Financial Assets      
Fair value adjustment - financial assets   ₨ 976 ₨ 1,481
Restricted asset   167,907 206,074
Total   168,883 207,555
Non-current $ 1,977 ₨ 168,883 ₨ 207,555
v3.25.2
Other non financial assets (Details Narrative) - INR (₨)
₨ in Thousands
Mar. 31, 2025
Mar. 31, 2024
Other Non Financial Assets    
Mandatory reserve deposits with tax authorities ₨ 167,907 ₨ 204,993
Income tax examination, refund adjustment claim with taxing authority, non-current ₨ 1,081
v3.25.2
Schedule of unrecognized deferred tax assets (Details) - INR (₨)
₨ in Thousands
Mar. 31, 2025
Mar. 31, 2024
DeferredTaxAssetsAndLiabilitiesLineItems [Line Items]    
Unrecognized deferred tax assets ₨ 2,445,505 ₨ 2,553,559
Temporary differences [member]    
DeferredTaxAssetsAndLiabilitiesLineItems [Line Items]    
Unrecognized deferred tax assets 276,775 282,544
Unabsorbed depreciation [Member]    
DeferredTaxAssetsAndLiabilitiesLineItems [Line Items]    
Unrecognized deferred tax assets ₨ 2,168,730 ₨ 2,271,015
v3.25.2
Deferred Tax (Details Narrative) - INR (₨)
₨ in Thousands
Mar. 31, 2025
Mar. 31, 2024
DeferredTaxAssetsAndLiabilitiesLineItems [Line Items]    
Unrecognized deferred tax assets ₨ 2,445,505 ₨ 2,553,559
Temporary differences [member]    
DeferredTaxAssetsAndLiabilitiesLineItems [Line Items]    
Unrecognized deferred tax assets 276,775 282,544
Unabsorbed depreciation [Member]    
DeferredTaxAssetsAndLiabilitiesLineItems [Line Items]    
Unrecognized deferred tax assets 2,168,730 2,271,015
Subsidiaries [Member] | Temporary differences [member]    
DeferredTaxAssetsAndLiabilitiesLineItems [Line Items]    
Unrecognized deferred tax assets 1,070,405 1,091,546
Subsidiaries [Member] | Unused tax losses [member]    
DeferredTaxAssetsAndLiabilitiesLineItems [Line Items]    
Unrecognized deferred tax assets 5,588,021 6,220,212
Subsidiaries [Member] | Unabsorbed depreciation [Member]    
DeferredTaxAssetsAndLiabilitiesLineItems [Line Items]    
Unrecognized deferred tax assets ₨ 2,771,805 ₨ 2,572,004
v3.25.2
Schedule of recognized deferred tax assets (Details)
₨ in Thousands, $ in Thousands
Mar. 31, 2025
USD ($)
Mar. 31, 2025
INR (₨)
Mar. 31, 2024
INR (₨)
Mar. 31, 2023
INR (₨)
DeferredTaxAssetsAndLiabilitiesLineItems [Line Items]        
Deferred Tax Assets Before Amounts Recognised In Other Comprehensive Income   ₨ 20,536 ₨ 9,239  
OCI gratuity   1,983 1,693  
Deferred tax assets $ 264 22,519 10,932  
Deferred tax liabilities $ (1,668) (142,468) (4,669)  
Deferred tax liability (asset)   (119,949) 6,263 ₨ 3,936
Lease liabilities [member]        
DeferredTaxAssetsAndLiabilitiesLineItems [Line Items]        
Deferred Tax Assets Before Amounts Recognised In Other Comprehensive Income   11,597 210  
Deferred tax liability (asset)   11,597 210 385
Property plant and equipment intangible assets [Member]        
DeferredTaxAssetsAndLiabilitiesLineItems [Line Items]        
Deferred Tax Assets Before Amounts Recognised In Other Comprehensive Income   664 2,712  
Deferred tax liabilities   (142,468) (4,669)  
Deferred tax liability (asset)   (141,804) (1,957) (4,009)
Trade and other receivables [member]        
DeferredTaxAssetsAndLiabilitiesLineItems [Line Items]        
Deferred Tax Assets Before Amounts Recognised In Other Comprehensive Income   10,107 4,497  
Deferred tax liability (asset)   10,107 4,497 4,047
Mat credit [member]        
DeferredTaxAssetsAndLiabilitiesLineItems [Line Items]        
Deferred Tax Assets Before Amounts Recognised In Other Comprehensive Income   266  
Deferred tax liability (asset)   266  
Employee benefits [member]        
DeferredTaxAssetsAndLiabilitiesLineItems [Line Items]        
Deferred Tax Assets Before Amounts Recognised In Other Comprehensive Income   9,132 1,888  
Deferred tax liability (asset)   9,132 1,888 2,118
Unutilised business losses [Member]        
DeferredTaxAssetsAndLiabilitiesLineItems [Line Items]        
Deferred Tax Assets Before Amounts Recognised In Other Comprehensive Income    
Provision for expenses [member]        
DeferredTaxAssetsAndLiabilitiesLineItems [Line Items]        
Deferred Tax Assets Before Amounts Recognised In Other Comprehensive Income   63 93  
Right-of-use assets   (11,293) (161)  
Deferred tax liability (asset)   ₨ 63 ₨ 93 ₨ 142
v3.25.2
Schedule of changes in deferred tax assets (Details) - INR (₨)
₨ in Thousands
 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
DeferredTaxAssetsAndLiabilitiesLineItems [Line Items]    
Deferred tax assets, Beginning balance ₨ 6,263 ₨ 3,936
Recognised in profit or loss 4,327  
Recognised in profit or loss (146,306)  
Recognised in profit or loss 15,477 1,872
Recognised in other comprehensive income 290 455
Deferred tax assets, Ending balance (119,949) 6,263
Right-of-use assets [member]    
DeferredTaxAssetsAndLiabilitiesLineItems [Line Items]    
Deferred tax assets, Beginning balance (161) (279)
Recognised in profit or loss   118
Deferred tax assets, Ending balance   (161)
Lease liabilities [member]    
DeferredTaxAssetsAndLiabilitiesLineItems [Line Items]    
Deferred tax assets, Beginning balance 210 385
Recognised in profit or loss [1]  
Recognised in profit or loss  
Recognised in profit or loss 11,387 (175)
Recognised in other comprehensive income  
Deferred tax assets, Ending balance 11,597 210
Property plant and equipment intangible assets [Member]    
DeferredTaxAssetsAndLiabilitiesLineItems [Line Items]    
Deferred tax assets, Beginning balance (1,957) (4,009)
Recognised in profit or loss [1]  
Recognised in profit or loss (146,306)  
Recognised in profit or loss 6,459 2,052
Recognised in other comprehensive income
Deferred tax assets, Ending balance (141,804) (1,957)
Right-of-use assets [member]    
DeferredTaxAssetsAndLiabilitiesLineItems [Line Items]    
Deferred tax assets, Beginning balance (161)  
Recognised in profit or loss [1]  
Recognised in profit or loss  
Recognised in profit or loss (11,132)  
Recognised in other comprehensive income  
Deferred tax assets, Ending balance (11,293) (161)
Trade and other receivables [member]    
DeferredTaxAssetsAndLiabilitiesLineItems [Line Items]    
Deferred tax assets, Beginning balance 4,497 4,047
Recognised in profit or loss [1]  
Recognised in profit or loss  
Recognised in profit or loss 5,610 450
Recognised in other comprehensive income
Deferred tax assets, Ending balance 10,107 4,497
Employee benefits [member]    
DeferredTaxAssetsAndLiabilitiesLineItems [Line Items]    
Deferred tax assets, Beginning balance 1,888 2,118
Recognised in profit or loss [1] 4,327  
Recognised in profit or loss  
Recognised in profit or loss 2,917 (230)
Recognised in other comprehensive income
Deferred tax assets, Ending balance 9,132 1,888
Provision for expenses [member]    
DeferredTaxAssetsAndLiabilitiesLineItems [Line Items]    
Deferred tax assets, Beginning balance 93 142
Recognised in profit or loss [1]  
Recognised in profit or loss  
Recognised in profit or loss (30) (49)
Recognised in other comprehensive income
Deferred tax assets, Ending balance 63 93
Remeasurement loss [member]    
DeferredTaxAssetsAndLiabilitiesLineItems [Line Items]    
Deferred tax assets, Beginning balance 1,693 1,238
Recognised in profit or loss [1]  
Recognised in profit or loss  
Recognised in profit or loss
Recognised in other comprehensive income 290 455
Deferred tax assets, Ending balance 1,983 1,693
Mat credit [member]    
DeferredTaxAssetsAndLiabilitiesLineItems [Line Items]    
Deferred tax assets, Beginning balance  
Recognised in profit or loss [1]  
Recognised in profit or loss  
Recognised in profit or loss 266  
Deferred tax assets, Ending balance 266
Loss available for offsetting against future taxable income [member]    
DeferredTaxAssetsAndLiabilitiesLineItems [Line Items]    
Deferred tax assets, Beginning balance 294
Recognised in profit or loss   (294)
Recognised in other comprehensive income  
Deferred tax assets, Ending balance  
[1] Deferred tax asset acquired on account of acquisition of Globe All India Services Limited on September 10, 2024
v3.25.2
Schedule of trade and other receivables (Details)
₨ in Thousands, $ in Thousands
Mar. 31, 2025
USD ($)
Mar. 31, 2025
INR (₨)
Mar. 31, 2024
INR (₨)
Trade And Other Receivables      
Trade receivables (net of allowance)   ₨ 5,523,943 ₨ 4,508,552
Refund and other receivable (net of allowance)   44,298 128,691
Total $ 65,179 ₨ 5,568,241 ₨ 4,637,243
v3.25.2
Trade and other receivables (Details Narrative)
₨ in Thousands, $ in Thousands
Mar. 31, 2025
USD ($)
Mar. 31, 2025
INR (₨)
Mar. 31, 2024
INR (₨)
TradeAndOtherReceivablesLineItems [Line Items]      
Current borrowings and current portion of non-current borrowings $ 6,147 ₨ 525,120 ₨ 523,515
Factoring [Member]      
TradeAndOtherReceivablesLineItems [Line Items]      
Trade receivables   508,722 451,001
Current borrowings and current portion of non-current borrowings   ₨ 457,850 ₨ 405,901
v3.25.2
Schedule of other financial assets, current (Details)
₨ in Thousands, $ in Thousands
Mar. 31, 2025
USD ($)
Mar. 31, 2025
INR (₨)
Mar. 31, 2024
INR (₨)
IfrsStatementLineItems [Line Items]      
Other financial assets, current $ 758 ₨ 64,722 ₨ 134,930
Interest accrued on term deposits [Member]      
IfrsStatementLineItems [Line Items]      
Other financial assets, current   11,930 29,583
Security deposits [member]      
IfrsStatementLineItems [Line Items]      
Other financial assets, current   51,938 55,700
Other financial assets including government grant [member]      
IfrsStatementLineItems [Line Items]      
Other financial assets, current   ₨ 854 ₨ 49,647
v3.25.2
Schedule of movement in allowance for doubtful security deposits (Details) - INR (₨)
₨ in Thousands
 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Other Financial Assets Current    
Balance at the beginning of the year ₨ 78,725 ₨ 78,725
Amount written off during the year (3,577)
Adjusted on account of business combination (73,700)
Balance at the end of the year ₨ 1,448 ₨ 78,725
v3.25.2
The movement in the Government Grant during the year was as follows: (Details) - INR (₨)
₨ in Thousands
 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Other Financial Assets Current    
At 01 April ₨ 48,813 ₨ 54,594
Recorded/ (trued- up) in statement of profit or loss (5,781)
Sale of SEIS 47,924
Loss on sale of SEIS (889)
At 31 March ₨ 48,813
v3.25.2
Other financial assets, current (Details Narrative) - INR (₨)
₨ in Thousands
 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
IfrsStatementLineItems [Line Items]    
Interest reinvested in term deposits ₨ 16,920 ₨ 82,379
Bottom of range [member]    
IfrsStatementLineItems [Line Items]    
Security deposits ranges 6 years 1 year
Top of range [member]    
IfrsStatementLineItems [Line Items]    
Security deposits ranges 9 years 4 years 6 months
v3.25.2
Schedule of cash and cash equivalents (Details) - INR (₨)
₨ in Thousands
Mar. 31, 2025
Mar. 31, 2024
Cash And Cash Equivalents    
Cash on hand ₨ 656 ₨ 72
Credit card collection in hand 160,814 797,380
Balances with bank 444,332 944,498
Total ₨ 605,802 ₨ 1,741,950
v3.25.2
Cash and cash equivalents (Details Narrative) - INR (₨)
₨ in Thousands
Mar. 31, 2025
Mar. 31, 2024
Cash And Cash Equivalents    
Undrawn borrowing facilities ₨ 1,734,016 ₨ 1,294,099
v3.25.2
Schedule of authorized shares (Details) (Parenthetical)
Mar. 31, 2025
$ / shares
Mar. 31, 2025
₨ / shares
Mar. 31, 2024
₨ / shares
IfrsStatementLineItems [Line Items]      
Par value per share     ₨ 142
Ordinary shares [member]      
IfrsStatementLineItems [Line Items]      
Par value per share | (per share) $ 0.0001 [1] ₨ 0.008  
Ordinary shares class A [member]      
IfrsStatementLineItems [Line Items]      
Par value per share | (per share) 0.0001 [2] 0.008  
Ordinary shares class F [member]      
IfrsStatementLineItems [Line Items]      
Par value per share | (per share) 0.0001 [1] 0.008  
Preference shares [member]      
IfrsStatementLineItems [Line Items]      
Par value per share | (per share) $ 0.0001 ₨ 0.008  
[1] For movement in class F shares to Ordinary shares, refer to note 6.
[2] Norwest Venture Partners X, LP and Norwest Venture Partners IX, LP, holding 1,196,084 and 1,196,084 Class A shares, respectively, have converted their Class A shares into 1,196,084 and 1,196,084 ordinary shares, respectively i.e. in the exchange ratio of 1:1, on February 15, 2024.
v3.25.2
Schedule of authorized shares (Details) - shares
Mar. 31, 2025
Mar. 31, 2024
IfrsStatementLineItems [Line Items]    
Number of shares authorized 523,159,375 523,159,375
Ordinary shares [member]    
IfrsStatementLineItems [Line Items]    
Number of shares authorized 500,000,000 500,000,000
Ordinary shares class A [member]    
IfrsStatementLineItems [Line Items]    
Number of shares authorized 10,000,000 10,000,000
Ordinary shares class F [member]    
IfrsStatementLineItems [Line Items]    
Number of shares authorized 3,159,375 3,159,375
Preference shares [member]    
IfrsStatementLineItems [Line Items]    
Number of shares authorized 10,000,000 10,000,000
v3.25.2
Schedule of changes in share capital and share premium (Details)
₨ in Thousands, $ in Thousands
 12 Months Ended
Mar. 31, 2025
USD ($)
shares
Mar. 31, 2025
INR (₨)
shares
Mar. 31, 2024
INR (₨)
shares
Disclosure of classes of share capital [abstract]      
Number of shares, outstanding, beginning balance | shares 63,113,555 63,113,555 63,647,927
Share capital, outstanding, beginning balance   ₨ 857 ₨ 850
Share premium, outstanding, beginning balance   ₨ 20,511,478 ₨ 20,388,799
Number of shares, exercise of option (restricted stock units and share-based payments) | shares 694,096 694,096 906,052
Share capital, exercise of option (restricted stock units and share-based payments)   ₨ 6 ₨ 7
Share premium, exercise of option (restricted stock units and share-based payments)   ₨ 83,590 ₨ 122,679
Number of shares, own shares repurchased | shares (1,733,009) (1,733,009) (1,440,424)
Number of shares, outstanding, ending balance | shares 62,074,642 62,074,642 63,113,555
Share capital, outstanding, ending balance   ₨ 863 ₨ 857
Share premium, outstanding, ending balance $ 241,075 ₨ 20,595,068 ₨ 20,511,478
v3.25.2
Schedule of classes of shares outstanding (Details)
Mar. 31, 2025
$ / shares
shares
Mar. 31, 2025
₨ / shares
shares
Mar. 31, 2024
₨ / shares
shares
Mar. 31, 2023
shares
IfrsStatementLineItems [Line Items]        
Nominal value | ₨ / shares     ₨ 142  
Ordinary shares 62,074,642 62,074,642 63,113,555 63,647,927
Ordinary shares [member]        
IfrsStatementLineItems [Line Items]        
Nominal value | (per share) $ 0.0001 [1] ₨ 0.008    
Ordinary shares [1] 60,219,771 60,219,771 61,258,684  
Ordinary shares class A [member]        
IfrsStatementLineItems [Line Items]        
Nominal value | (per share) $ 0.0001 [2] ₨ 0.008    
Ordinary shares [2]  
Ordinary shares class F [member]        
IfrsStatementLineItems [Line Items]        
Nominal value | (per share) $ 0.0001 [1] ₨ 0.008    
Ordinary shares [1] 1,854,871 1,854,871 1,854,871  
[1] For movement in class F shares to Ordinary shares, refer to note 6.
[2] Norwest Venture Partners X, LP and Norwest Venture Partners IX, LP, holding 1,196,084 and 1,196,084 Class A shares, respectively, have converted their Class A shares into 1,196,084 and 1,196,084 ordinary shares, respectively i.e. in the exchange ratio of 1:1, on February 15, 2024.
v3.25.2
Schedule of Classes of Shares Outstanding (Details) (Parenthetical) - shares
Mar. 31, 2025
Mar. 31, 2024
Feb. 15, 2024
Mar. 31, 2023
IfrsStatementLineItems [Line Items]        
Number of shares outstanding 62,074,642 63,113,555   63,647,927
Ordinary shares class A [member]        
IfrsStatementLineItems [Line Items]        
Number of shares outstanding [1]    
Norwest Venture Partners X, LP [member] | Ordinary shares class A [member]        
IfrsStatementLineItems [Line Items]        
Number of shares outstanding     1,196,084  
Conversion of shares into ordinary shares     1,196,084  
Norwest Venture Partners IX, LP [member] | Ordinary shares class A [member]        
IfrsStatementLineItems [Line Items]        
Number of shares outstanding     1,196,084  
Conversion of shares into ordinary shares     1,196,084  
[1] Norwest Venture Partners X, LP and Norwest Venture Partners IX, LP, holding 1,196,084 and 1,196,084 Class A shares, respectively, have converted their Class A shares into 1,196,084 and 1,196,084 ordinary shares, respectively i.e. in the exchange ratio of 1:1, on February 15, 2024.
v3.25.2
Schedule of changes in treasury shares (Details)
$ in Thousands
 12 Months Ended
Mar. 31, 2025
USD ($)
shares
Mar. 31, 2025
INR (₨)
shares
Mar. 31, 2024
INR (₨)
shares
IfrsStatementLineItems [Line Items]      
Number of shares, outstanding, beginning balance 63,113,555 63,113,555 63,647,927
Amount, balance at beginning of the year | ₨   ₨ (7,760,272,000) ₨ (719,319,000)
Number of shares, outstanding, ending balance 62,074,642 62,074,642 63,113,555
Amount, balance at end of the year $ (92,529) ₨ (7,904,834,000) ₨ (7,760,272,000)
Treasury shares [member]      
IfrsStatementLineItems [Line Items]      
Number of shares, outstanding, beginning balance 1,441,423 1,441,423 999
Amount, balance at beginning of the year | ₨   ₨ 222,152,000 ₨ 11,219,000
Numbers of shares, own shares repurchased 1,733,009 [1] 1,733,009 [1] 1,440,424
Amount, own shares repurchased | ₨   ₨ 196,403 [1] ₨ 210,933
Number of shares, outstanding, ending balance 3,174,432 3,174,432 1,441,423
Amount, balance at end of the year | ₨   ₨ 418,555,000 ₨ 222,152,000
[1] The weighted average exercise price per share is fixed in USD. The amount disclosed in INR are determined by multiplying exercise price per share in USD by exchange rate of INR 85.43 per USD as at March 31, 2025 (March 31, 2024 INR 83.34 per USD).
v3.25.2
Equity share capital and share premium (Details Narrative)
 12 Months Ended
Mar. 31, 2025
$ / shares
shares
Mar. 31, 2025
$ / shares
₨ / shares
shares
Mar. 31, 2024
₨ / shares
shares
Mar. 31, 2023
shares
IfrsStatementLineItems [Line Items]        
Nominal value | ₨ / shares     ₨ 142  
Class F Share [member]        
IfrsStatementLineItems [Line Items]        
Nominal value | $ / shares $ 1.00001 $ 1.00001    
Share based compensation equity instruments [Member]        
IfrsStatementLineItems [Line Items]        
Number of shares reserved for issue under options and contracts for sale of shares | shares 1,844 1,844 1,844 1,844
Exercise price, equity instruments | (per share) $ 5.42 $ 463.03    
v3.25.2
Schedule of changes in other capital reserves (Details)
₨ in Thousands, $ in Thousands
 12 Months Ended
Mar. 31, 2025
USD ($)
Mar. 31, 2025
INR (₨)
Mar. 31, 2024
INR (₨)
Disclosure of reserves within equity [line items]      
Balance   ₨ 7,760,272 ₨ 719,319
Balance $ 92,529 7,904,834 7,760,272
Capital reserve [member]      
Disclosure of reserves within equity [line items]      
Balance   378,693 281,394
Share-based payments expense during the year   123,811 229,260
Exercised during the year   (90,272) (122,660)
Forfeited during the year   (9,301)
Expired during the year  
Balance   412,232 378,693
Capital reserve [member] | Reserve of share-based payments [member]      
Disclosure of reserves within equity [line items]      
Balance   355,094 257,795
Share-based payments expense during the year   123,811 229,260
Exercised during the year   (90,272) (122,660)
Forfeited during the year   (9,301)
Expired during the year  
Balance   388,633 355,094
Capital reserve [member] | Reserve of gains and losses from investments in equity instruments [member]      
Disclosure of reserves within equity [line items]      
Balance   341 341
Share-based payments expense during the year  
Exercised during the year  
Forfeited during the year  
Expired during the year  
Balance   341 341
Capital reserve [member] | Reserve On Expiry Of Warrant [Member]      
Disclosure of reserves within equity [line items]      
Balance   23,258 23,258
Share-based payments expense during the year  
Exercised during the year  
Forfeited during the year  
Expired during the year  
Balance   ₨ 23,258 ₨ 23,258
v3.25.2
Summary of changes in share options outstanding (Details)
 12 Months Ended
Mar. 31, 2025
shares
$ / shares
Mar. 31, 2025
shares
₨ / shares
Mar. 31, 2024
shares
$ / shares
Mar. 31, 2024
shares
₨ / shares
Share plan 2006 and india share plan 2006 [member]        
IfrsStatementLineItems [Line Items]        
Number of options outstanding at the beginning of the year 191,411 191,411 203,855 203,855
Weighted average EP per share, Number of options outstanding at the beginning of the year | (per share) $ 83.34 ₨ 356.65 [1]   ₨ 356.65 [1]
No of shares, Granted during the year
Weighted average EP per share, Granted during the year | ₨ / shares [1]    
No of shares, Forfeited during the year
Weighted average EP per share, Forfeited during the year | ₨ / shares [1]    
No of shares, Expired during the year 191,411 191,411 12,444 12,444
Weighted average EP per share, Expired during the year | ₨ / shares [1]   ₨ 356.65   ₨ 361.70
No of shares, Exercised during the year
Weighted average EP per share, Exercised during the year | ₨ / shares [1]    
Number of options outstanding at the end of the year 191,411 191,411
Weighted average EP per share, Number of options outstanding at the end of the year | (per share) $ 85.43 [1] $ 83.34 ₨ 356.65 [1]
No of shares, Vested/exercisable 191,411 191,411
Weighted average EP per share, Vested/exercisable | ₨ / shares [1]     ₨ 356.65
2016 stock option and incentive plan [member]        
IfrsStatementLineItems [Line Items]        
Number of options outstanding at the beginning of the year 189,081 189,081 271,370 271,370
Weighted average EP per share, Number of options outstanding at the beginning of the year | ₨ / shares [2]   ₨ 270.91   ₨ 259.07
No of shares, Granted during the year
Weighted average EP per share, Granted during the year | ₨ / shares [2]    
No of shares, Forfeited during the year 34,605 34,605 62,331 62,331
Weighted average EP per share, Forfeited during the year | ₨ / shares [2]   ₨ 810.14   ₨ 150.48
No of shares, Expired during the year 4,013 4,013 19,958 19,958
Weighted average EP per share, Expired during the year | ₨ / shares [2]   ₨ 93.95   ₨ 741.60
Number of options outstanding at the end of the year 150,463 150,463 189,081 189,081
Weighted average EP per share, Number of options outstanding at the end of the year | ₨ / shares [2]   ₨ 170.86   ₨ 270.91
No of shares, Vested/exercisable 150,463 150,463 156,759 156,759
Weighted average EP per share, Vested/exercisable | ₨ / shares [2]   ₨ 170.86   ₨ 342.30
[1] The weighted average exercise price per share is fixed in USD. The amount disclosed in INR are determined by multiplying exercise price per share in USD by exchange rate of INR 85.43 per USD as at March 31, 2025 (March 31, 2024 INR 83.34 per USD).
[2] The weighted average exercise price per share is fixed in USD. The amount disclosed in INR are determined by multiplying exercise price per share in USD by exchange rate of INR 85.43 per USD as at March 31, 2025 (March 31, 2024 INR 83.34 per USD).
v3.25.2
Summary of changes in share options outstanding (Details) (Parenthetical)
Mar. 31, 2025
$ / shares
Mar. 31, 2025
₨ / shares
 [1]
Mar. 31, 2024
$ / shares
Mar. 31, 2024
₨ / shares
 [1]
Mar. 31, 2023
₨ / shares
 [1]
Share plan 2006 and india share plan 2006 [member]          
IfrsStatementLineItems [Line Items]          
Exercise price | (per share) $ 85.43 $ 83.34 ₨ 356.65 ₨ 356.65
Stock Option 2016 And Incentive Plan [Member]          
IfrsStatementLineItems [Line Items]          
Exercise price $ 85.43   $ 83.34    
[1] The weighted average exercise price per share is fixed in USD. The amount disclosed in INR are determined by multiplying exercise price per share in USD by exchange rate of INR 85.43 per USD as at March 31, 2025 (March 31, 2024 INR 83.34 per USD).
v3.25.2
Summary of Inputs for Model Used (Details)
 12 Months Ended
Mar. 31, 2025
shares
$ / shares
Mar. 31, 2025
shares
₨ / shares
Mar. 31, 2024
shares
$ / shares
Mar. 31, 2024
shares
₨ / shares
Mar. 31, 2023
shares
Restricted stock unit plan [member]          
IfrsStatementLineItems [Line Items]          
Number of RSU/PSU’s outstanding at the beginning of the year 4,578,910 4,578,910 3,619,800 3,619,800  
Granted during the year 1,483,551 1,483,551 1,983,129 1,983,129  
Expired during the year 117,969 117,969  
Vested/exercised during the year 694,096 694,096 906,050 906,050  
Vested RSUs net settled for employee’s tax obligation [1] 69,189 69,189  
Number of RSU/PSU’s outstanding at the end of the year 5,299,176 5,299,176 4,578,910 4,578,910 3,619,800
Weighted average share price, share options granted | ₨ / shares   ₨ 2.02   ₨ 2.02  
Risk- free interest rate 4.15% 4.15% 4.15% 4.15%  
Expected volatility (%) 55.00% 55.00% 55.00% 55.00%  
Expected life 4 4 4 4  
Dividend Yield 0.00% 0.00% 0.00% 0.00%  
Description of option pricing model, share options granted Black-Scholes Valuation Black-Scholes Valuation Black-Scholes Valuation Black-Scholes Valuation  
Performance stock unit plan [member]          
IfrsStatementLineItems [Line Items]          
Weighted average share price, share options granted | $ / shares $ 1.35   $ 2.02    
Risk- free interest rate 4.19% 4.19% 4.15% 4.15%  
Expected volatility (%) 46.50% 46.50% 55.00% 55.00%  
Expected life 4 4 4 4  
Dividend Yield     0.00% 0.00% 0.00%
Description of option pricing model, share options granted Monte Carlo Simulation Monte Carlo Simulation Monte Carlo Simulation Monte Carlo Simulation  
[1] As per Tax laws applicable in India, the Company is obliged to withhold an amount for an employee’s tax obligation associated with a share-based payment and transfer that amount in cash, to the tax authority on the employee’s behalf. Accordingly, during the year ended March 31, 2025, the Group settled the transaction on a net basis by withholding the number of vested PSUs with a fair value equal to the monetary value of the employee’s tax obligation of INR 6,676 which has been paid to the tax authority on the employee’s behalf before March 31, 2025. Total tax liability paid of INR 6,676 is recognized in equity as transaction with equity shareholders.
v3.25.2
Summary of changes in RSUs outstanding (Details) (Parenthetical)
₨ in Thousands
 12 Months Ended
Mar. 31, 2025
INR (₨)
Disclosure of reserves within equity [abstract]  
Total tax liability paid ₨ 6,676
v3.25.2
Other capital reserve (Details Narrative)
 12 Months Ended
Mar. 31, 2025
INR (₨)
shares
Mar. 31, 2024
INR (₨)
shares
Mar. 31, 2023
INR (₨)
shares
₨ / shares
Mar. 31, 2025
$ / shares
Mar. 31, 2025
INR (₨)
shares
₨ / shares
Mar. 31, 2024
shares
$ / shares
Mar. 31, 2024
shares
₨ / shares
Share plan 2006 and india share plan 2006 [member]              
Disclosure of reserves within equity [line items]              
Ordinary shares, gramted     203,855   191,411 191,411
Weighted average remaining contractual life     3 months 29 days        
Exercise price | (per share)     ₨ 356.65 [1] $ 85.43 [1] $ 83.34 ₨ 356.65 [1]
Number of share options granted in share-based payment arrangement          
Share plan 2006 and india share plan 2006 [member] | Employees stock options [member]              
Disclosure of reserves within equity [line items]              
Expense from share-based payment transactions | ₨          
Number of share options granted in share-based payment arrangement 0 0          
Share plan 2006 and india share plan 2006 [member] | Employees stock options [member] | Bottom of range [member]              
Disclosure of reserves within equity [line items]              
Exercise price | (per share)           4.34 361.70
Share plan 2006 and india share plan 2006 [member] | Employees stock options [member] | Share plan 2006 and india share plan 2006 [member]              
Disclosure of reserves within equity [line items]              
Vesting percentage 50.00%            
Share plan 2006 and india share plan 2006 [member] | Employee Stock Option [member] | 2015 milestones [member]              
Disclosure of reserves within equity [line items]              
Vesting percentage 25.00%            
Share plan 2006 and india share plan 2006 [member] | Employee Stock Option [member] | 2016 Milestones [Member]              
Disclosure of reserves within equity [line items]              
Vesting percentage 25.00%            
Stock option and incentive plan 2016 [member]              
Disclosure of reserves within equity [line items]              
Weighted average remaining contractual life 3 years 9 months 3 days 4 years 3 months 18 days          
Stock option and incentive plan 2016 [member] | Employees stock options [member]              
Disclosure of reserves within equity [line items]              
Unissued ordinary shares         8,598,562    
Stock option and incentive plan 2016 [member] | Employees stock options [member] | Bottom of range [member]              
Disclosure of reserves within equity [line items]              
Exercise price | (per share)       2.00 ₨ 170.86 2.00 166.68
Stock option and incentive plan 2016 [member] | Employees stock options [member] | Top of range [member]              
Disclosure of reserves within equity [line items]              
Exercise price | (per share)       10.00 ₨ 854.30 $ 10.00 ₨ 833.40
Stock option and incentive plan 2016 [member] | Employees stock options [member] | Vesting schedule one [member]              
Disclosure of reserves within equity [line items]              
Ordinary shares, gramted         21,769    
Stock option and incentive plan 2016 [member] | Employees stock options [member] | Vesting schedule two [member]              
Disclosure of reserves within equity [line items]              
Ordinary shares, gramted         466,100    
2016 stock option and incentive plan [member]              
Disclosure of reserves within equity [line items]              
Ordinary shares, gramted     271,370   150,463 189,081 189,081
Exercise price | ₨ / shares [2]     ₨ 259.07   ₨ 170.86   ₨ 270.91
Number of share options granted in share-based payment arrangement          
2016 stock option and incentive plan [member] | Employees stock options [member]              
Disclosure of reserves within equity [line items]              
Number of share options granted in share-based payment arrangement          
2016 stock option and incentive plan [member] | Employee Stock Option [member]              
Disclosure of reserves within equity [line items]              
Ordinary shares, gramted         150,463 189,081 189,081
Restricted stock unit 2016 plan [member]              
Disclosure of reserves within equity [line items]              
Expense from share-based payment transactions with employees | ₨ ₨ 124,787,000 ₨ 229,238,000 ₨ 138,196,000        
Restricted stock unit 2016 plan [member] | Restricted stock units rsus [member] | Vesting schedule one [member]              
Disclosure of reserves within equity [line items]              
Number of other equity instruments granted in share-based payment arrangement 687,857            
Restricted stock unit 2016 plan [member] | Restricted stock units rsus [member] | Vesting schedule two [member]              
Disclosure of reserves within equity [line items]              
Number of other equity instruments granted in share-based payment arrangement 1,609,934            
Restricted stock unit 2016 plan [member] | Restricted stock units rsus [member] | Vesting schedule two [member] | Bottom of range [member]              
Disclosure of reserves within equity [line items]              
Shares price | $ / shares           $ 10.00  
Restricted stock unit 2016 plan [member] | Restricted stock units rsus [member] | Vesting schedule two [member] | Top of range [member]              
Disclosure of reserves within equity [line items]              
Shares price | $ / shares           1.80  
Restricted stock unit 2016 plan [member] | Restricted stock units rsus [member] | Vesting schedule three [member]              
Disclosure of reserves within equity [line items]              
Number of other equity instruments granted in share-based payment arrangement 692,000            
Reserve of share-based payments | ₨         ₨ 29,793    
Restricted stock unit 2016 plan [member] | Restricted stock units rsus [member] | Vesting schedule four [member]              
Disclosure of reserves within equity [line items]              
Number of other equity instruments granted in share-based payment arrangement 1,280,154            
Restricted stock unit 2016 plan [member] | Restricted stock units rsus [member] | Vesting schedule four [member] | Bottom of range [member]              
Disclosure of reserves within equity [line items]              
Shares price | $ / shares       4.00      
Restricted stock unit 2016 plan [member] | Restricted stock units rsus [member] | Vesting schedule four [member] | Top of range [member]              
Disclosure of reserves within equity [line items]              
Shares price | $ / shares       2.50      
Restricted stock unit 2016 plan [member] | Restricted stock units rsus [member] | Vesting schedule five [member]              
Disclosure of reserves within equity [line items]              
Number of other equity instruments granted in share-based payment arrangement 132,911            
Reserve of share-based payments | ₨     ₨ 91,196        
Restricted stock unit 2016 plan [member] | Restricted stock units rsus [member] | Vesting schedule six [member]              
Disclosure of reserves within equity [line items]              
Number of other equity instruments granted in share-based payment arrangement 649,500            
Restricted stock unit 2016 plan [member] | Restricted stock units rsus [member] | Vesting schedule seven [member]              
Disclosure of reserves within equity [line items]              
Number of other equity instruments granted in share-based payment arrangement 1,248,185            
Restricted stock unit 2016 plan [member] | Restricted stock units rsus [member] | Vesting schedule seven [member] | Bottom of range [member]              
Disclosure of reserves within equity [line items]              
Shares price | $ / shares       4.00      
Restricted stock unit 2016 plan [member] | Restricted stock units rsus [member] | Vesting schedule seven [member] | Top of range [member]              
Disclosure of reserves within equity [line items]              
Shares price | $ / shares       2.50      
Restricted stock unit 2016 plan [member] | Restricted stock units rsus [member] | Vesting schedule eight [member]              
Disclosure of reserves within equity [line items]              
Number of other equity instruments granted in share-based payment arrangement 84,000            
Restricted stock unit 2016 plan [member] | Restricted stock units rsus [member] | Vesting schedule nine [member]              
Disclosure of reserves within equity [line items]              
Number of other equity instruments granted in share-based payment arrangement 475,876            
Restricted stock unit 2016 plan [member] | Restricted stock units rsus [member] | Vesting Schedule Ten [Member]              
Disclosure of reserves within equity [line items]              
Number of other equity instruments granted in share-based payment arrangement 1,248,184            
Restricted stock unit 2016 plan [member] | Restricted stock units rsus [member] | Vesting Schedule Ten [Member] | Bottom of range [member]              
Disclosure of reserves within equity [line items]              
Shares price | $ / shares       4.25      
Restricted stock unit 2016 plan [member] | Restricted stock units rsus [member] | Vesting Schedule Ten [Member] | Top of range [member]              
Disclosure of reserves within equity [line items]              
Shares price | $ / shares       2.75      
Restricted stock unit 2016 plan [member] | Restricted stock units rsus [member] | Vesting Schedule Eleven [Member]              
Disclosure of reserves within equity [line items]              
Number of other equity instruments granted in share-based payment arrangement 167,873            
Restricted stock unit 2016 plan [member] | Restricted stock units rsus [member] | Vesting schedule twelve [member]              
Disclosure of reserves within equity [line items]              
Number of other equity instruments granted in share-based payment arrangement 25,000            
Restricted stock unit 2016 plan [member] | Restricted stock units rsus [member] | Vesting schedule thirteen [member] | Bottom of range [member]              
Disclosure of reserves within equity [line items]              
Number of other equity instruments granted in share-based payment arrangement 300,000            
Shares price | $ / shares           2.75  
Restricted stock unit 2016 plan [member] | Restricted stock units rsus [member] | Vesting schedule thirteen [member] | Top of range [member]              
Disclosure of reserves within equity [line items]              
Number of other equity instruments granted in share-based payment arrangement 1,025,640            
Shares price | $ / shares           $ 4.25  
Restricted stock units rsus [member]              
Disclosure of reserves within equity [line items]              
Weighted average remaining contractual life 11 months 1 day 1 year 3 months 7 days          
Share based compensation equity instruments [Member]              
Disclosure of reserves within equity [line items]              
Unissued ordinary shares     1,844   1,844 1,844 1,844
Number of shares reserved for issue under options and contracts for sale of shares exercise price | (per share)       $ 5.42 ₨ 463.03    
Ordinary shares [member] | Share plan 2006 and india share plan 2006 [member]              
Disclosure of reserves within equity [line items]              
Unissued ordinary shares         1,316,765 1,316,765 1,316,765
[1] The weighted average exercise price per share is fixed in USD. The amount disclosed in INR are determined by multiplying exercise price per share in USD by exchange rate of INR 85.43 per USD as at March 31, 2025 (March 31, 2024 INR 83.34 per USD).
[2] The weighted average exercise price per share is fixed in USD. The amount disclosed in INR are determined by multiplying exercise price per share in USD by exchange rate of INR 85.43 per USD as at March 31, 2025 (March 31, 2024 INR 83.34 per USD).
v3.25.2
Schedule of changes in accumulated other comprehensive loss (Details)
₨ in Thousands, $ in Thousands
 12 Months Ended
Mar. 31, 2025
USD ($)
Mar. 31, 2025
INR (₨)
Mar. 31, 2024
INR (₨)
Mar. 31, 2023
INR (₨)
Actuarial loss on defined benefit plan:        
Actuarial loss on obligation   ₨ (3,061) ₨ (6,449) ₨ (10,508)
Income tax expense   443 (205)
Total $ (35) (3,061) [1] (6,006) [1] (10,713) [1]
Foreign currency translation:        
Foreign currency translation differences   202,414 (15,027) 1,245
Balance at the end of year   ₨ 199,353 ₨ (21,033) ₨ (9,468)
[1] Refer to Note 31 for the movement during the year.
v3.25.2
Schedule of borrowings by type and classification (Details)
₨ in Thousands, $ in Thousands
 12 Months Ended
Mar. 31, 2025
USD ($)
Mar. 31, 2025
INR (₨)
Mar. 31, 2024
INR (₨)
IfrsStatementLineItems [Line Items]      
Total $ 6,147 ₨ 525,120 ₨ 523,515
Total $ 243 20,744 114,677
Borrowings, carrying amount   545,864 638,192
Vehicle Loan [Member]      
IfrsStatementLineItems [Line Items]      
Total   10,136 9,509
Borrowings current term description Less than 1 year    
Total   20,744 23,884
Borrowings current term description More than 1 year    
Borrowings, carrying amount   ₨ 30,880 33,393
Vehicle Loan [Member] | Bottom of range [member]      
IfrsStatementLineItems [Line Items]      
Interest Rate 7.00% 7.00%  
Year of Maturity 2025    
Vehicle Loan [Member] | Top of range [member]      
IfrsStatementLineItems [Line Items]      
Interest Rate 11.25% 11.25%  
Year of Maturity 2031    
Bank overdraft and cash credit [member]      
IfrsStatementLineItems [Line Items]      
Total   ₨ 57,134
Borrowings current term description Less than 1 year    
Borrowings, carrying amount   57,134
Year of Maturity On demand    
Interest Rate [1] Floating rate    
Non Convertible Debenture [Member]      
IfrsStatementLineItems [Line Items]      
Total   108,105
Borrowings current term description Less than 1 year    
Total   90,793
Borrowings current term description More than 1 year    
Borrowings, carrying amount   198,898
Interest Rate 14.25% 14.25%  
Year of Maturity 2025    
Sale bill discounting [member]      
IfrsStatementLineItems [Line Items]      
Total   ₨ 457,850 405,901
Borrowings current term description Less than 1 year    
Borrowings, carrying amount   ₨ 457,850 ₨ 405,901
Year of Maturity On demand    
Interest Rate [2] Floating rate    
[1] 3M/ 12M MCLR + 0.20% to 1.00% spread
[2] 3M MCLR + 0.20% to 0.50% spread
v3.25.2
Schedule of material discrepancies between books of accounts in subsidiary and quarterly statements (Details)
₨ in Thousands, $ in Thousands
 12 Months Ended
Mar. 31, 2025
USD ($)
Mar. 31, 2025
INR (₨)
Mar. 31, 2024
INR (₨)
Mar. 31, 2023
INR (₨)
DisclosureBorrowingsLineItems [Line Items]        
Amount as reported   ₨ 545,864 ₨ 638,192  
Amount of difference $ (263) (22,469) ₨ (164,909) ₨ (22,079)
Axis Bank [Member] | Trade receivables [member]        
DisclosureBorrowingsLineItems [Line Items]        
Amount as per books of account   1,055,193    
Amount as reported   1,032,444    
Amount of difference   ₨ 22,750    
Reason for material discrepancies The discrepancy majorly is on account of the details being submitted on the basis of provisional books / financial statements. Adjustments pertaining to cut offs are done only on finalization of books of accounts / financial statements. The discrepancy majorly is on account of the details being submitted on the basis of provisional books / financial statements. Adjustments pertaining to cut offs are done only on finalization of books of accounts / financial statements.    
v3.25.2
Borrowings (Details Narrative)
₨ in Thousands, $ in Thousands
 12 Months Ended
Mar. 31, 2025
USD ($)
Mar. 31, 2025
INR (₨)
shares
Mar. 31, 2024
INR (₨)
shares
Mar. 31, 2023
INR (₨)
shares
Jan. 31, 2024
INR (₨)
IfrsStatementLineItems [Line Items]          
Nominal value     ₨ 1    
Issuance of bank guarantees $ 29,025 ₨ 2,479,568 8,716,246 ₨ 3,825,988  
Borrowings   545,864 638,192    
Sale bill discounting [member]          
IfrsStatementLineItems [Line Items]          
Borrowings   457,850 405,901    
Sale bill discounting [member] | ICICI Bank [Member]          
IfrsStatementLineItems [Line Items]          
Nominal value   300,000    
Sale bill discounting [member] | International Air Transport Association [Member]          
IfrsStatementLineItems [Line Items]          
Issuance of bank guarantees   9,519    
Sale bill discounting [member] | Axis Bank [Member]          
IfrsStatementLineItems [Line Items]          
Nominal value   820,000 550,000    
Issuance of bank guarantees   ₨ 156,550 25,874    
Percentage of fixed deposits 20.00% 20.00%      
Sale bill discounting [member] | Federal Bank [Member]          
IfrsStatementLineItems [Line Items]          
Nominal value   ₨ 600,000 400,000    
Issuance of bank guarantees   ₨ 200,000 118,309    
Percentage of fixed deposits 20.00% 20.00%      
Sale bill discounting [member] | IDFC Bank [Member]          
IfrsStatementLineItems [Line Items]          
Nominal value   ₨ 650,000 500,000    
Issuance of bank guarantees   ₨ 158,455 261,718    
Percentage of fixed deposits 20.00% 20.00%      
Bank guarantee   ₨ 50,000      
Sale bill discounting [member] | Yes Bank [member]          
IfrsStatementLineItems [Line Items]          
Nominal value   200,000    
Issuance of bank guarantees      
Percentage of fixed deposits 20.00% 20.00%      
Bank Guarantee [member] | ICICI Bank [Member]          
IfrsStatementLineItems [Line Items]          
Nominal value   ₨ 150,000      
Issuance of bank guarantees   ₨ 121,000      
Percentage of fixed deposits 20.00% 20.00%      
Non Convertible Debentures [Member] | Black soil Capital Private Ltd [Member]          
IfrsStatementLineItems [Line Items]          
Nominal value   ₨ 500,000 ₨ 500,000 ₨ 500,000  
Debentures issued | shares   400 400 600  
Borrowings   ₨ 200,000 ₨ 200,000 ₨ 300,000  
Interest rate     14.25% 14.25%  
Payable amount     ₨ 20,000 ₨ 20,000  
Premium rate     2.00% 2.00%  
Non Convertible Debentures [Member] | Black Soil India Credit Fund [Member]          
IfrsStatementLineItems [Line Items]          
Nominal value     ₨ 500,000    
Debentures issued | shares     600    
Borrowings     ₨ 300,000   ₨ 231,818
v3.25.2
Schedule of trade and other payables (Details)
₨ in Thousands, $ in Thousands
Mar. 31, 2025
USD ($)
Mar. 31, 2025
INR (₨)
Mar. 31, 2024
INR (₨)
Trade And Other Payables      
Trade payables   ₨ 1,677,434 ₨ 1,146,789
Accrued expenses   447,600 488,527
Refund and other payables   828,035 972,771
Total   2,953,069 2,608,087
Current $ 34,567 2,953,069 2,608,087
Non-current  
Total   ₨ 2,953,069 ₨ 2,608,087
v3.25.2
Schedule of employee benefits liability (Details)
₨ in Thousands, $ in Thousands
Mar. 31, 2025
USD ($)
Mar. 31, 2025
INR (₨)
Mar. 31, 2024
INR (₨)
Disclosure of defined benefit plans [abstract]      
Defined benefit obligation   ₨ 87,180 ₨ 71,449
Liability for compensated absences   41,200 25,708
Total   128,380 97,157
Current $ 732 62,550 41,307
Non Current $ 771 65,830 55,850
Net Unfunded liability   ₨ 87,180 ₨ 71,449
v3.25.2
Summary of changes in present value of obligation and fair value of plan assets (Details) - INR (₨)
₨ in Thousands
 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Present value of defined benefit obligation [member]    
IfrsStatementLineItems [Line Items]    
Fair value of plan assets at beginning of the year ₨ 76,876 ₨ 79,497
On account of business combination 15,833
Interest cost 5,543 4,269
Current service cost 12,563 8,437
Past service cost (1,633)
Remeasurement (gain)/ loss on obligation
Remeasurement (gain)/loss on obligation - economic assumptions 1,641 4,581
Remeasurement (gain)/loss on obligation - demographic assumptions 448 (211)
Remeasurement (gain)/loss on obligation - experience assumptions 1,037 1,874
Benefits paid (14,284) (19,938)
Fair value of plan assets at end of the year 99,657 76,876
Plan assets [member]    
IfrsStatementLineItems [Line Items]    
Fair value of plan assets at beginning of the year [1] 5,427 8,218
On account of business combination [1] 6,937
Employer contributions [1]
Return on plan assets (excluding amounts included in net interest expense) [1] 890 584
Remeasurement (gain)/loss on plan assets [1] 72 (206)
Benefits paid [1] (849) (3,169)
Fair value of plan assets at end of the year [1] ₨ 12,477 ₨ 5,427
[1] plan assets represents investment made by the Company in LIC funds.
v3.25.2
Schedule of unfunded liability (Details) - INR (₨)
₨ in Thousands
Mar. 31, 2025
Mar. 31, 2024
Disclosure of defined benefit plans [abstract]    
Current ₨ 21,350 ₨ 15,601
Non-current 65,830 55,848
Unfunded liability recognized in statement of financial position ₨ 87,180 ₨ 71,449
v3.25.2
Schedule of components of cost recognized in profit or loss (Details) - INR (₨)
₨ in Thousands
 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Mar. 31, 2023
Disclosure of defined benefit plans [abstract]      
Current service cost ₨ 12,563 ₨ 8,437 ₨ 8,619
Past service cost (1,633)
Net interest cost 4,653 3,686 2,702
Components of cost recognized in profit or loss ₨ 17,216 ₨ 10,490 ₨ 11,321
v3.25.2
Summary of amounts for actuarial loss on obligation recognized in other comprehensive income (Details)
₨ in Thousands, $ in Thousands
 12 Months Ended
Mar. 31, 2025
USD ($)
Mar. 31, 2025
INR (₨)
Mar. 31, 2024
INR (₨)
Mar. 31, 2023
INR (₨)
Disclosure of defined benefit plans [abstract]        
Remeasurement loss on obligation $ 35 ₨ 3,061 [1] ₨ 6,006 [1] ₨ 10,713 [1]
[1] Refer to Note 31 for the movement during the year.
v3.25.2
Schedule of actuarial assumptions used for estimating defined benefit obligations (Details)
 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Disclosure of detailed information about borrowings [line items]    
Discount rate   7.19%
Actuarial assumption of expected rates of salary increases 5.00% 5.00%
Retirement age (years)   65 years
Mortality table [1]   IALM
Upto 30 Years [Member]    
Disclosure of detailed information about borrowings [line items]    
Withdrawal rate   30.00%
From 31 to 44 Years [Member]    
Disclosure of detailed information about borrowings [line items]    
Withdrawal rate 2.00% 29.00%
Above 44 Years [Member]    
Disclosure of detailed information about borrowings [line items]    
Withdrawal rate   23.00%
Bottom of range [member]    
Disclosure of detailed information about borrowings [line items]    
Discount rate 6.54%  
Average expected future working life (years) 3 years 2 months 15 days 3 years 5 months 15 days
Retirement age (years) 60 years  
Bottom of range [member] | Upto 30 Years [Member]    
Disclosure of detailed information about borrowings [line items]    
Withdrawal rate 2.00%  
Bottom of range [member] | Above 44 Years [Member]    
Disclosure of detailed information about borrowings [line items]    
Withdrawal rate 2.00%  
Top of range [member]    
Disclosure of detailed information about borrowings [line items]    
Discount rate 6.85%  
Average expected future working life (years) 16 years 1 month 2 days 3 years 7 months 17 days
Retirement age (years) 65 years  
Top of range [member] | Upto 30 Years [Member]    
Disclosure of detailed information about borrowings [line items]    
Withdrawal rate 27.00%  
Top of range [member] | From 31 to 44 Years [Member]    
Disclosure of detailed information about borrowings [line items]    
Withdrawal rate 31.00%  
Top of range [member] | Above 44 Years [Member]    
Disclosure of detailed information about borrowings [line items]    
Withdrawal rate 31.00%  
[1] Indian Assured Lives Mortality (2012-14) Ultimate represents published mortality table used for mortality assumption.
v3.25.2
Summary of sensitivity analysis of actuarial assumptions used in computation of defined benefit obligation (Details) - INR (₨)
₨ in Thousands
Mar. 31, 2025
Mar. 31, 2024
Actuarial assumption of discount rates [member]    
IfrsStatementLineItems [Line Items]    
Impact on discount rate or salary due to increase in actuarial assumptions ₨ (9,616) ₨ (1,152)
Impact on discount rate or salary due to decrease in actuarial assumptions 15,688 1,191
Actuarial assumption of expected rates of salary increases [member]    
IfrsStatementLineItems [Line Items]    
Impact on discount rate or salary due to increase in actuarial assumptions 14,872 1,255
Impact on discount rate or salary due to decrease in actuarial assumptions ₨ (8,718) ₨ (1,231)
v3.25.2
Summary of sensitivity analysis of actuarial assumptions used in computation of defined benefit obligation (Details) (Parenthetical)
Mar. 31, 2025
Actuarial assumption of discount rates [member]  
IfrsStatementLineItems [Line Items]  
Percentage of reasonably possible increase in actuarial assumption 0.50%
Percentage of reasonably possible decrease in actuarial assumption 0.50%
Actuarial assumption of expected rates of salary increases [member]  
IfrsStatementLineItems [Line Items]  
Percentage of reasonably possible increase in actuarial assumption 0.50%
Percentage of reasonably possible decrease in actuarial assumption 0.50%
v3.25.2
Schedule of expected contributions to the defined benefit plan in future years (Details) - INR (₨)
Mar. 31, 2025
Mar. 31, 2024
IfrsStatementLineItems [Line Items]    
Total expected payments ₨ 142,984 ₨ 99,103
Year 1 [Member]    
IfrsStatementLineItems [Line Items]    
Total expected payments 27,720 21,029
Year 2 [Member]    
IfrsStatementLineItems [Line Items]    
Total expected payments 17,335 15,962
Year 3 [Member]    
IfrsStatementLineItems [Line Items]    
Total expected payments 14,401 12,549
Year 4 [Member]    
IfrsStatementLineItems [Line Items]    
Total expected payments 12,037 10,899
Year 5 [Member]    
IfrsStatementLineItems [Line Items]    
Total expected payments 9,501 8,589
Year 6-10 [Member]    
IfrsStatementLineItems [Line Items]    
Total expected payments 28,428 21,709
Year above ten [Member]    
IfrsStatementLineItems [Line Items]    
Total expected payments ₨ 33,562 ₨ 8,366
v3.25.2
Schedule of defined contribution plans (Details) - INR (₨)
 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Disclosure of defined benefit plans [abstract]    
Employer’s contribution to Employees’ Provident fund ₨ 63,031 ₨ 38,683
Employer’s contribution to Labour Welfare Fund 630 16,000
Employer’s contribution ₨ 63,661 ₨ 54,683
v3.25.2
Schedule of deferred revenue, by type (Details)
₨ in Thousands, $ in Thousands
Mar. 31, 2025
USD ($)
Mar. 31, 2025
INR (₨)
Mar. 31, 2024
INR (₨)
Mar. 31, 2023
INR (₨)
IfrsStatementLineItems [Line Items]        
Total deferred revenue   ₨ 2,390 ₨ 3,360 ₨ 45,721
Noncurrent    
Current $ 28 2,390 3,360  
Global Distribution System Provider [member]        
IfrsStatementLineItems [Line Items]        
Total deferred revenue    
Loyalty Program [member]        
IfrsStatementLineItems [Line Items]        
Total deferred revenue   ₨ 2,390 ₨ 3,360  
v3.25.2
Summary of changes in deferred revenue (Details) - INR (₨)
₨ in Thousands
 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Deferred Revenue    
Balance at the beginning of the year ₨ 3,360 ₨ 45,721
Deferred during the year
Recorded in statement of profit or loss (970) (42,361)
Transferred to other financial liabilities (deposits)
Balance at the end of the year ₨ 2,390 ₨ 3,360
v3.25.2
Schedule of other financial liabilities (Details)
₨ in Thousands, $ in Thousands
Mar. 31, 2025
USD ($)
Mar. 31, 2025
INR (₨)
Mar. 31, 2024
INR (₨)
Other Financial Liabilities      
Due to employees   ₨ 93,924 ₨ 65,815
Deposits [1]   353,154
Total $ 1,099 ₨ 93,924 ₨ 418,969
[1] Deposit received from the Global Distribution System provider (GDS), which is repayable at the end of the contract and interest free nature was initially recognized at fair value. The difference between the deposit received and fair value initially recognized is treated as deferred consideration under Note 35. Deposits are subsequently measured at amortized cost and unwinding is recognized under finance cost. The deferred consideration recognized is amortized over the tenure of deposit on straight line basis and amortization is recognized as revenue.
v3.25.2
Schedule of other current liabilities (Details)
₨ in Thousands, $ in Thousands
Mar. 31, 2025
USD ($)
Mar. 31, 2025
INR (₨)
Mar. 31, 2024
INR (₨)
Other Current Liabilities      
Advance from customers [1]   ₨ 1,027,588 ₨ 622,178
Statutory liabilities   117,823 68,323
Other liabilities   50,381 52,565
Interest accrued on term loan   1,545
Total $ 14,017 ₨ 1,197,337 ₨ 743,066
[1] Advances from customers primarily consist of amounts for future bookings of Airline tickets, Hotel bookings, Packages and freight forwarding services.
v3.25.2
Schedule of contingent liabilities (Details) - INR (₨)
Mar. 31, 2025
Mar. 31, 2024
Commitment And Contingencies    
Claims against the Group not recognized as debts [1] ₨ 103,829 ₨ 114,410
Service tax demand [2] 35,377 311,889
Income tax demand [3] 821,929 286,860
Goods and service tax demand [4] 64,689
Bank Guarantee (refer note 32) 121,000
Contingent liabilities ₨ 1,146,824 ₨ 713,159
[1] These represent claims made by the customers due to service related issues, which are contested by the Group and are pending in various District Consumer Redressal Forums in India. Also these include demand raised under Section 6 of The Employees’ Provident Fund and Misc. Provisions Act,1952 for the financial year 2017-18 and 2018-19. The management does not expect these claims/ demands to succeed and, accordingly, no provision has been recognized in the consolidated financial statements. Therefore the same has been classified as a contingent liability.
[2] Service tax demand includes:
[3] Income tax demand includes:
[4] Goods and service tax demand includes:
v3.25.2
Commitment and contingencies (Details Narrative) - INR (₨)
 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Mar. 31, 2023
IfrsStatementLineItems [Line Items]      
Other contractual commitments ₨ 10,818,000  
Service tax demand [1] 35,377 311,889  
Income tax demand [2] 821,929 286,860  
Operating lease 0 0  
Expense relating to variable lease payments not included in measurement of lease liabilities 10,968,000 3,646,000 ₨ 1,832,000
Fixed deposit 40,319,000    
Ezeego one travel and tours limited [member]      
IfrsStatementLineItems [Line Items]      
Petition alleging non-payment 219,773,000    
Tax Contingent Liability Service Tax Authorities [Member]      
IfrsStatementLineItems [Line Items]      
Service tax demand 27,855,000 261,536,000  
Tax Contingent Liability Service Tax Authorities [Member] | Tax period april 2007 to march 2015 [member]      
IfrsStatementLineItems [Line Items]      
Service tax demand 7,522,000 50,353,000  
Tax Contingent Liability Income Tax Authorities [Member]      
IfrsStatementLineItems [Line Items]      
Income tax demand 294,309,000 286,860,000  
Tax Contingent Liability Income Tax Authorities [Member] | Total for all subsidiaries [member]      
IfrsStatementLineItems [Line Items]      
Income tax demand 527,620,000  
Tax Contingent Liability GST Authorities [member]      
IfrsStatementLineItems [Line Items]      
Income tax demand ₨ 64,689,000  
[1] Service tax demand includes:
[2] Income tax demand includes:
v3.25.2
Schedule of credit risk exposure by type (Details) - Credit risk [member] - INR (₨)
₨ in Thousands
Mar. 31, 2025
Mar. 31, 2024
IfrsStatementLineItems [Line Items]    
Trade and other receivables ₨ 5,568,241 ₨ 4,637,243
Other financial assets 1,509,606 2,916,793
Cash and cash equivalents (except cash in hand) 605,146 1,741,878
Total ₨ 7,682,993 ₨ 9,295,914
v3.25.2
Schedule of age of trade and other receivables (Details) - Credit risk [member] - INR (₨)
₨ in Thousands
Mar. 31, 2025
Mar. 31, 2024
Mar. 31, 2023
IfrsStatementLineItems [Line Items]      
Trade and other receivables excluding impairment ₨ 6,038,004 ₨ 5,052,387  
Trade and other receivables, impairment 469,763 415,144 ₨ 452,046
Not later than one month [member]      
IfrsStatementLineItems [Line Items]      
Trade and other receivables excluding impairment 3,272,429 2,546,036  
Trade and other receivables, impairment 1,816 5,092  
Later than one month and not later than three months [member]      
IfrsStatementLineItems [Line Items]      
Trade and other receivables excluding impairment 1,218,710 922,095  
Trade and other receivables, impairment 4,439 1,844  
Later than three months and not later than six months [member]      
IfrsStatementLineItems [Line Items]      
Trade and other receivables excluding impairment 277,439 526,338  
Trade and other receivables, impairment 1,709 1,053  
Later than six months [member]      
IfrsStatementLineItems [Line Items]      
Trade and other receivables excluding impairment 1,269,426 1,057,918  
Trade and other receivables, impairment ₨ 461,799 ₨ 407,155  
v3.25.2
Schedule of allowance for doubtful debts in trade and other receivables (Details) - Credit risk [member] - INR (₨)
₨ in Thousands
 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
IfrsStatementLineItems [Line Items]    
Balance at the beginning of the year ₨ 415,144 ₨ 452,046
Provisions accrued during the year 67,411 (30,964)
Amount written off during the year (12,792) (5,938)
Balance at the end of the year ₨ 469,763 ₨ 415,144
v3.25.2
Schedule of financial liabilities by type (Details) - Liquidity risk [member] - INR (₨)
₨ in Thousands
Mar. 31, 2025
Mar. 31, 2024
IfrsStatementLineItems [Line Items]    
Carrying Amount ₨ 3,831,006 ₨ 3,880,990
Contractual Cash Flows [1] 3,908,932 3,983,155
Not later than one year [member]    
IfrsStatementLineItems [Line Items]    
Contractual Cash Flows 3,653,893 3,651,938
Later than one year and not later than five years [member]    
IfrsStatementLineItems [Line Items]    
Contractual Cash Flows 222,339 331,217
Later than five years [member]    
IfrsStatementLineItems [Line Items]    
Contractual Cash Flows 32,700
Vehicle Loan [Member]    
IfrsStatementLineItems [Line Items]    
Carrying Amount 30,880 33,393
Contractual Cash Flows [1] 34,455 40,172
Vehicle Loan [Member] | Not later than one year [member]    
IfrsStatementLineItems [Line Items]    
Contractual Cash Flows 12,695 12,385
Vehicle Loan [Member] | Later than one year and not later than five years [member]    
IfrsStatementLineItems [Line Items]    
Contractual Cash Flows 21,760 27,787
Vehicle Loan [Member] | Later than five years [member]    
IfrsStatementLineItems [Line Items]    
Contractual Cash Flows
Lease liabilities [member]    
IfrsStatementLineItems [Line Items]    
Carrying Amount 238,149 215,742
Contractual Cash Flows [1] 312,500 284,724
Lease liabilities [member] | Not later than one year [member]    
IfrsStatementLineItems [Line Items]    
Contractual Cash Flows 79,221 77,715
Lease liabilities [member] | Later than one year and not later than five years [member]    
IfrsStatementLineItems [Line Items]    
Contractual Cash Flows 200,579 207,009
Lease liabilities [member] | Later than five years [member]    
IfrsStatementLineItems [Line Items]    
Contractual Cash Flows 32,700
Trade and other payables [Member]    
IfrsStatementLineItems [Line Items]    
Carrying Amount 2,953,069 2,608,087
Contractual Cash Flows [1] 2,953,069 2,608,087
Trade and other payables [Member] | Not later than one year [member]    
IfrsStatementLineItems [Line Items]    
Contractual Cash Flows 2,953,069 2,608,087
Trade and other payables [Member] | Later than one year and not later than five years [member]    
IfrsStatementLineItems [Line Items]    
Contractual Cash Flows
Trade and other payables [Member] | Later than five years [member]    
IfrsStatementLineItems [Line Items]    
Contractual Cash Flows
Sales bill discounting [member]    
IfrsStatementLineItems [Line Items]    
Carrying Amount   405,901
Contractual Cash Flows [1]   405,901
Sales bill discounting [member] | Not later than one year [member]    
IfrsStatementLineItems [Line Items]    
Contractual Cash Flows   405,901
Sales bill discounting [member] | Later than one year and not later than five years [member]    
IfrsStatementLineItems [Line Items]    
Contractual Cash Flows  
Sales bill discounting [member] | Later than five years [member]    
IfrsStatementLineItems [Line Items]    
Contractual Cash Flows  
Non Convertible Debenture [Member]    
IfrsStatementLineItems [Line Items]    
Carrying Amount   198,898
Contractual Cash Flows [1]   225,302
Non Convertible Debenture [Member] | Not later than one year [member]    
IfrsStatementLineItems [Line Items]    
Contractual Cash Flows   128,881
Non Convertible Debenture [Member] | Later than one year and not later than five years [member]    
IfrsStatementLineItems [Line Items]    
Contractual Cash Flows   96,421
Non Convertible Debenture [Member] | Later than five years [member]    
IfrsStatementLineItems [Line Items]    
Contractual Cash Flows  
Other financial liabilities [member]    
IfrsStatementLineItems [Line Items]    
Carrying Amount 93,924 418,969
Contractual Cash Flows [1] 93,924 418,969
Other financial liabilities [member] | Not later than one year [member]    
IfrsStatementLineItems [Line Items]    
Contractual Cash Flows 93,924 418,969
Other financial liabilities [member] | Later than one year and not later than five years [member]    
IfrsStatementLineItems [Line Items]    
Contractual Cash Flows
Other financial liabilities [member] | Later than five years [member]    
IfrsStatementLineItems [Line Items]    
Contractual Cash Flows
Sales bill discounting and bank overdraft [member]    
IfrsStatementLineItems [Line Items]    
Carrying Amount 514,984  
Contractual Cash Flows [1] 514,984  
Sales bill discounting and bank overdraft [member] | Not later than one year [member]    
IfrsStatementLineItems [Line Items]    
Contractual Cash Flows 514,984  
Sales bill discounting and bank overdraft [member] | Later than one year and not later than five years [member]    
IfrsStatementLineItems [Line Items]    
Contractual Cash Flows  
Sales bill discounting and bank overdraft [member] | Later than five years [member]    
IfrsStatementLineItems [Line Items]    
Contractual Cash Flows  
[1] Represents Undiscounted cash flows of interest and principal
v3.25.2
Summary of foreign currency sensitivity (Details) - Currency risk [member] - INR (₨)
₨ in Thousands
Mar. 31, 2025
Mar. 31, 2024
United States of America Dollars Against India Rupees [member]    
IfrsStatementLineItems [Line Items]    
Risk exposure to currency fluctuations ₨ 4,467 ₨ 7,053
Euro Member Countries Euro Against India Rupees [member]    
IfrsStatementLineItems [Line Items]    
Risk exposure to currency fluctuations 5,645 1,370
United Kingdom Pounds Against India Rupees [member]    
IfrsStatementLineItems [Line Items]    
Risk exposure to currency fluctuations 1,599 1,487
Singapore Dollars Against India Rupees [member]    
IfrsStatementLineItems [Line Items]    
Risk exposure to currency fluctuations ₨ (215) ₨ (225)
v3.25.2
Summary of foreign currency sensitivity (Details) (Parenthetical) - Currency risk [member]
Mar. 31, 2025
United States of America Dollars Against India Rupees [member]  
IfrsStatementLineItems [Line Items]  
Foreign currency sensitivity, percentage of reasonably possible change in actuarial assumption 5.00%
Euro Member Countries Euro Against India Rupees [member]  
IfrsStatementLineItems [Line Items]  
Foreign currency sensitivity, percentage of reasonably possible change in actuarial assumption 5.00%
United Kingdom Pounds Against India Rupees [member]  
IfrsStatementLineItems [Line Items]  
Foreign currency sensitivity, percentage of reasonably possible change in actuarial assumption 5.00%
Singapore Dollars Against India Rupees [member]  
IfrsStatementLineItems [Line Items]  
Foreign currency sensitivity, percentage of reasonably possible change in actuarial assumption 5.00%
v3.25.2
Summary of debt ratio information (Details)
₨ in Thousands, $ in Thousands
Mar. 31, 2025
USD ($)
Mar. 31, 2025
INR (₨)
Mar. 31, 2024
USD ($)
Mar. 31, 2024
INR (₨)
Mar. 31, 2023
INR (₨)
Mar. 31, 2022
INR (₨)
IfrsStatementLineItems [Line Items]            
Borrowings, carrying amount   ₨ 545,864   ₨ 638,192    
Less : Cash and cash equivalents (Refer note 28) $ (6,422) (548,668) $ (20,390) (1,741,950) ₨ (503,601) ₨ (800,282)
Equity 63,252 5,403,693   5,388,473    
Total equity $ 92,529 7,904,834   7,760,272 ₨ 719,319 ₨ 892,241
Debt covenants [member]            
IfrsStatementLineItems [Line Items]            
Borrowings, carrying amount   784,013   853,934    
Less : Cash and cash equivalents (Refer note 28)   (605,802)   (1,741,950)    
Net debt   178,211   (888,016)    
Equity   5,403,694   5,388,473    
Total equity   ₨ 5,403,694   ₨ 5,388,473    
Gearing ratio (Net debt / total equity + net debt) 3.19% 3.19% (19.73%) (19.73%)    
v3.25.2
Summary of arm’s length transactions with related parties (Details)
₨ in Thousands, $ in Thousands
 12 Months Ended
Mar. 31, 2025
USD ($)
Mar. 31, 2025
INR (₨)
Mar. 31, 2024
INR (₨)
Mar. 31, 2023
INR (₨)
IfrsStatementLineItems [Line Items]        
Loan taken $ 29,025 ₨ 2,479,568 ₨ 8,716,246 ₨ 3,825,988
Loan repaid $ 28,416 2,427,619 9,400,045 3,087,688
Bank charges   26,044 25,120 78,091
Trade receivable   530  
Loan [1]   1,027,588 622,178  
Significant influence group companies [member]        
IfrsStatementLineItems [Line Items]        
Loan taken   821,900
Loan repaid   821,900
Unsecured loan from third party investor   42,712 42,838
Bank charges   47,765
Joint ventures where entity is venturer [member]        
IfrsStatementLineItems [Line Items]        
Recovery of expenses   594 102
Loan given   6,300 1,000
Interest income   460
Trade receivable [2],[3]   530  
Other financial assets [2]    
Loan [2]   ₨ 6,300  
[1] Advances from customers primarily consist of amounts for future bookings of Airline tickets, Hotel bookings, Packages and freight forwarding services.
[2] Provision for impairment on loans to joint venture is INR Nil (March 31, 2024: INR Nil). Cumulative provision for impairment on loans to joint venture as on March 31, 2025 is INR Nil (March 31, 2024: INR 73,719). Closing balance of loans to joint venture (net of allowance) as of March 31, 2025 is INR Nil (March 31, 2024: INR Nil), refer to note 27.
[3] Trade receivables includes advance given against the future bookings amounting INR Nil (March 31, 2024: 530). Provision for impairment on trade receivables INR Nil (March 31, 2024: INR Nil). Closing balance of trade receivables (net of allowance) as of March 31, 2025 is INR Nil (March 31, 2024: INR 530), refer to note 26.
v3.25.2
Summary of arm’s length transactions with related parties (Details) (Parenthetical) - INR (₨)
₨ in Thousands
 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
IfrsStatementLineItems [Line Items]    
Trade receivables ₨ 530
Impairment of trade receivables
Total for all joint ventures [member]    
IfrsStatementLineItems [Line Items]    
Provision for impairment on loans to joint venture
Receivable joint ventures 73,719
Receivable joint ventures (net of allowance)
Joint ventures where entity is venturer [member]    
IfrsStatementLineItems [Line Items]    
Trade receivables [1],[2] ₨ 530
[1] Provision for impairment on loans to joint venture is INR Nil (March 31, 2024: INR Nil). Cumulative provision for impairment on loans to joint venture as on March 31, 2025 is INR Nil (March 31, 2024: INR 73,719). Closing balance of loans to joint venture (net of allowance) as of March 31, 2025 is INR Nil (March 31, 2024: INR Nil), refer to note 27.
[2] Trade receivables includes advance given against the future bookings amounting INR Nil (March 31, 2024: 530). Provision for impairment on trade receivables INR Nil (March 31, 2024: INR Nil). Closing balance of trade receivables (net of allowance) as of March 31, 2025 is INR Nil (March 31, 2024: INR 530), refer to note 26.
v3.25.2
Schedule of key management compensation (Details) - INR (₨)
₨ in Thousands
 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Mar. 31, 2023
Related Party Disclosures      
Short-term employee benefits ₨ 51,606 ₨ 49,436 ₨ 44,749
Contributions to defined contribution plans 721 691 618
Bonus 58,551 6,765
Directors Sitting fee’s 15,100 14,237 14,345
Share based payment 95,563 181,294 114,632
Total compensation paid to key management personnel ₨ 221,541 ₨ 245,658 ₨ 181,109
v3.25.2
Summary of the movements in the carrying value of right of use assets (Details)
₨ in Thousands, $ in Thousands
 12 Months Ended
Mar. 31, 2025
USD ($)
Mar. 31, 2025
INR (₨)
Mar. 31, 2024
INR (₨)
Disclosure of fair value measurement of assets [line items]      
Balance as at the beginning of the year   ₨ 160,037 ₨ 200,760
Additions   86,914 13,548
Deletions   (2,476)
Depreciation (Refer note 13)   (61,446) (54,271)
Effects of movements in foreign exchange rates  
Balance as at the end of the year $ 2,142 183,029 160,037
Buildings [member]      
Disclosure of fair value measurement of assets [line items]      
Balance as at the beginning of the year   139,970 189,893
Additions   86,914
Deletions   (2,476)
Depreciation (Refer note 13)   (50,289) (49,923)
Effects of movements in foreign exchange rates  
Balance as at the end of the year   174,119 139,970
Others [Member]      
Disclosure of fair value measurement of assets [line items]      
Balance as at the beginning of the year   20,067 10,867
Additions   13,548
Deletions  
Depreciation (Refer note 13)   (11,157) (4,348)
Effects of movements in foreign exchange rates  
Balance as at the end of the year   ₨ 8,910 ₨ 20,067
v3.25.2
Schedule of amounts recognized in profit or loss (Details) - INR (₨)
₨ in Thousands
 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Mar. 31, 2023
Leases      
Depreciation expense of right-of-use asset (Refer note 13) ₨ 61,446 ₨ 54,271  
Interest on lease liabilities (Refer note 16) 32,608 32,267  
Expense relating to short-term leases (Refer note 12) 10,968 3,646 ₨ 1,832
Gain on termination/ rent concession of leases (Refer note 10) 619  
Total amount recognized in profit or loss ₨ 105,641 ₨ 90,184  
v3.25.2
Schedule of lease liabilities by classification (Details)
₨ in Thousands, $ in Thousands
Mar. 31, 2025
USD ($)
Mar. 31, 2025
INR (₨)
Mar. 31, 2024
INR (₨)
Leases      
Current lease liabilities $ 606 ₨ 51,810 ₨ 51,324
Non-current lease liabilities $ 2,181 186,339 164,418
Total   ₨ 238,149 ₨ 215,742
v3.25.2
Schedule of carrying amounts of lease liabilities and the movements during the period (Details) - INR (₨)
₨ in Thousands
 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Leases    
Opening balance, Lease liabilities ₨ 215,742 ₨ 251,228
Additions 83,019 13,050
Finance cost accrued during the period (Refer note 16) 32,608 32,267
Deletions (3,123)
Payment of lease liabilities (90,097) (80,803)
Effects of movements in foreign exchange rates
Ending balance, Lease liabilities ₨ 238,149 ₨ 215,742
v3.25.2
Schedule of contractual maturities of lease liabilities (Details) - INR (₨)
Mar. 31, 2025
Mar. 31, 2024
IfrsStatementLineItems [Line Items]    
Total ₨ 312,500 ₨ 284,724
Not later than one year [member]    
IfrsStatementLineItems [Line Items]    
Total 79,221 77,715
Later than one year and not later than five years [member]    
IfrsStatementLineItems [Line Items]    
Total 200,579 207,009
Later than five years [member]    
IfrsStatementLineItems [Line Items]    
Total ₨ 32,700
v3.25.2
Leases (Details Narrative)
Mar. 31, 2025
Bottom of range [member]  
IfrsStatementLineItems [Line Items]  
Lease term 3 years
Top of range [member]  
IfrsStatementLineItems [Line Items]  
Lease term 5 years
Buildings [member]  
IfrsStatementLineItems [Line Items]  
Lease term 3 years
Buildings [member] | Bottom of range [member]  
IfrsStatementLineItems [Line Items]  
Lease term 2 years
Buildings [member] | Top of range [member]  
IfrsStatementLineItems [Line Items]  
Lease term 9 years
v3.25.2
Listing and related expenses (Details Narrative) - INR (₨)
₨ / shares in Units, ₨ in Thousands
 12 Months Ended
Mar. 31, 2024
Mar. 31, 2025
Mar. 31, 2023
IfrsStatementLineItems [Line Items]      
Equity shares, fresh issue 54,577,465    
Equity shares, face value ₨ 1    
Issue price per share ₨ 142    
Cash consideration ₨ 61,253    
Adjusted share transaction 3,285    
Prepayments of other assets 412,407 ₨ 412,407 ₨ 108,956
Prepaid expense 281,885  
Prepayments of other assets ₨ 54,238 ₨ 23,591
Yatra India [Member]      
IfrsStatementLineItems [Line Items]      
Equity shares, fresh issue 42,394,366    
Shareholders [Member]      
IfrsStatementLineItems [Line Items]      
Equity shares, fresh issue 12,183,099    
Intermediate holdco of yatra india [member]      
IfrsStatementLineItems [Line Items]      
Equity shares, fresh issue 11,751,729    
Noncontrolling interest yatra india [member]      
IfrsStatementLineItems [Line Items]      
Equity shares, fresh issue 431,360    
v3.25.2
The following table represents the unaudited pro forma revenues and net income/ (loss) assuming the acquisition of Globe occurred on April 1, 2023. (Details) - Globe All India Services Limited [Member] - INR (₨)
₨ in Thousands
 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
IfrsStatementLineItems [Line Items]    
Revenue ₨ 2,504,931 ₨ 2,522,464
Net Income/ (loss) ₨ (25,305) ₨ 83,321
v3.25.2
Schedule of purchase consideration for acquisition (Details) - INR (₨)
₨ in Thousands
Sep. 10, 2024
Jun. 19, 2024
IfrsStatementLineItems [Line Items]    
Net cash acquired with the subsidiary ₨ 3,000  
Cash paid (1,280,000)  
Net cash flow on acquisition (1,277,000)  
Globe All India Services Limited [Member]    
IfrsStatementLineItems [Line Items]    
Net working capital (including cash) [1] 559,000  
Property, plant and equipment 46,000  
Trademarks 315,870  
Customer base and relationships 189,780  
Vendor base and relationships 138,030  
Borrowings (523,990)  
Deferred tax asset 4,570  
Deferred tax liability (172,789)  
Total identifiable net assets at fair value 556,471  
Goodwill 723,529  
Total purchase consideration ₨ 1,280,000  
Yatra Mice and Holidays Limited [member]    
IfrsStatementLineItems [Line Items]    
Net working capital (including cash)   ₨ (6,400)
Total identifiable net assets at fair value   (6,400)
Net cash acquired with the subsidiary   2,870
Cash paid   (9,800)
Net cash flow on acquisition   (6,930)
Non-controlling interests measured at fair value   (200)
Deferred tax assets   26,410
Total enterprise value (including fair value of existing 50% stake)   ₨ 19,810
[1] The fair value of the net working capital includes trade receivables with a fair value of INR 522,550 equivalent to gross contractual amount receivable.
v3.25.2
Schedule of values and lives of intangibles recognised on acquisition (Details) - Globe All India Services Limited [Member]
₨ in Thousands
Sep. 10, 2024
INR (₨)
IfrsStatementLineItems [Line Items]  
Total Intangibles ₨ 643,680
Supplier Related Intangible Assets [member]  
IfrsStatementLineItems [Line Items]  
Total Intangibles ₨ 138,030
Intangible Assets Life (years) 15 years
Brand names [member]  
IfrsStatementLineItems [Line Items]  
Total Intangibles ₨ 315,870
Intangible Assets Life (years) 15 years
Customer-related intangible assets [member]  
IfrsStatementLineItems [Line Items]  
Total Intangibles ₨ 189,780
Intangible Assets Life (years) 15 years
v3.25.2
Schedule of purchase consideration for acquisition (Details) (Parenthetical)
₨ in Thousands
Sep. 10, 2024
INR (₨)
Business Combination  
Gross contractual amount receivable ₨ 522,550
v3.25.2
Business Combination (Details Narrative) - INR (₨)
₨ in Thousands
 12 Months Ended
Sep. 11, 2024
Jun. 19, 2024
Jun. 18, 2024
Mar. 31, 2025
Mar. 31, 2024
Mar. 31, 2023
Sep. 10, 2024
IfrsStatementLineItems [Line Items]              
Net revenue       ₨ 7,954,522 ₨ 4,189,897 ₨ 3,827,265  
Globe All India Services Limited [Member]              
IfrsStatementLineItems [Line Items]              
Conversion ₨ 1,280,000            
Net revenue 1,560,141            
Profit ₨ 97,334            
Acquisition-related costs       8      
Purchase consideration, fair value             ₨ 1,280,000
Yatra Online Limited [Member]              
IfrsStatementLineItems [Line Items]              
Ownership interest rate     50.00%        
Yatra Mice and Holidays Limited [member]              
IfrsStatementLineItems [Line Items]              
Conversion   ₨ 9,800          
Net revenue   38,586          
Profit   ₨ 1,871          
Acquisition-related costs       ₨ 3      
Purchase consideration, fair value             ₨ 9,800
Ownership interest rate   49.00%