v3.24.4
FINANCIAL RISK MANAGEMENT (Tables)
 6 Months Ended 12 Months Ended
Sep. 30, 2024
Mar. 31, 2024
IfrsStatementLineItems [Line Items]    
SCHEDULE OF MATURITIES OF FINANCIAL LIABILITIES ON CONTRACTUAL UNDISCOUNTED CASH FLOWS

The table below analyses the Group’s financial liabilities into relevant maturity groupings based on the remaining period at the end of each financial reporting period to the contractual maturity dates. The amounts disclosed in the table are the contractual undiscounted cash flows.

 

 SCHEDULE OF MATURITIES OF FINANCIAL LIABILITIES ON CONTRACTUAL UNDISCOUNTED CASH FLOWS

  

Within

1 year

   1-5 years   Total 
   USD   USD   USD 
At 30 September 2024               
Accounts payable   898,627    -    898,627 
Other payables and accruals   1,072,227    -    1,072,227 
Tax payables   8,917    -    8,917 
Deferred revenue   374,711    -    374,711 
Amount due to related companies   34,579    -    34,579 
Loans from immediate holding company   2,383,673    -    2,383,673 
Lease liabilities   122,076    148,232    270,308 
Preferred shares   -    6,189,000    6,189,000 
Convertible loan notes   5,681,066    -    5,681,066 
    10,575,876    6,337,232    16,913,108 
                
At 31 March 2024               
Accounts payable   788,798    -    788,798 
Other payables and accruals   596,870    -    596,870 
Tax payables   8,917         8,917 
Deferred revenue   322,826    -    322,826 
Amount due to related companies   34,579         34,579 
Amount due to immediate holding company   5,345,929    -    5,345,929 
Loans from immediate holding company   1,930,993    -    1,930,993 
Loan from a related company   1,140,931    -    1,140,931 
Lease liabilities   122,076    243,280    365,356 
Preferred shares   -    9,359,000    9,359,000 
Convertible loan notes   3,975,534    114,808    4,090,342 
    14,267,453    9,717,088    23,984,541 

The table below analyses the Group’s financial liabilities into relevant maturity groupings based on the remaining period at the end of each financial reporting period to the contractual maturity dates. The amounts disclosed in the table are the contractual undiscounted cash flows.

 

   Within
1 year		   1-5 years   Total 
   USD   USD   USD 
At 31 March 2024               
Accounts payable   788,798    -    788,798 
Other payables and accruals   596,870    -    596,870 
Tax payables   8,917    -    8,917 
Deferred revenue   322,826    -    322,826 
Due to a related company   34,579    -    34,579 
Due to immediate holding company   5,345,929    -    5,345,929 
Loan from immediate holding company   1,930,993    -    1,930,993 
Loan from a related company   1,140,931    -    1,140,931 
Lease liabilities   122,076    243,280    365,356 
Preferred shares   -    9,359,000    9,359,000 
Convertible loan notes   3,975,534    114,808    4,090,342 
Total liabilities   14,267,453    9,717,088    23,984,541 
                
At 31 March 2023               
Accounts payable   187,584    -    187,584 
Other payables and accruals   349,197    -    349,197 
Deferred revenue   335,666    -    335,666 
Amount due to immediate holding company   506    -    506 
Loan from immediate holding company   2,328,926    -    2,328,926 
Loan from a related company   -    1,060,712    1,060,712 
Preferred shares   -    13,460,000    13,460,000 
Convertible loan notes   -    3,349,822    3,349,822 
Total liabilities   3,201,879    17,870,534    21,072,413 
SCHEDULE OF RECONCILIATION OF LEVEL 3 FAIR VALUE MEASUREMENTS
   At
30 September 2024		   At
31 March 2024		 
   USD   USD 
At the beginning of the reporting period   13,102,000    16,729,000 
Additions   1,369,648    100,000 
Fair value adjustments   (3,265,648)   (3,727,000)
At the end of the reporting period   11,206,000    13,102,000 

 

   At
31 March 2024		   At
31 March 2023		 
   USD   USD 
At 1 April   16,729,000    11,619,000 
Additions   100,000    3,250,000 
Fair value adjustments   (3,727,000)   1,860,000 
At 31 March   13,102,000    16,729,000 
SCHEDULE OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES MEASURED AT AMORTIZED COST

The financial assets and financial liabilities in the table below are measured at amortized cost. Management believes the carrying amounts of these financial assets and liabilities measured at amortized cost approximate their fair values.

 

 

   At 30 September 2024   At 31 March 2024 
   USD   USD 
Financial assets          
Trade receivables   84,764    182,334 
Other receivables   381,256    184,018 
Contract assets   87,382    69,354 
Cash and cash equivalents   100,822    76,620 
    654,224    512,326 
Financial liabilities          
Trade payables   898,627    788,798 
Other payables   11,609    11,057 
Tax payables   8,917    8,917 
Amount due to related companies   34,579    34,579 
Amount due to immediate holding company   -    5,345,929 
Loans from immediate holding company   2,383,673    1,930,993 
Loan from a related company   -    1,140,931 
Lease liabilities   270,308    365,356 
    3,607,713    9,626,560 

The financial assets and financial liabilities in the table below are measured at amortized cost. Management believes the carrying amounts of these financial assets and liabilities measured at amortized cost approximate their fair values.

 

   At
31 March 2024		   At
31 March 2023		 
   USD   USD 
Financial assets          
Trade receivables   182,334    289,788 
Other receivables   184,018    142 
Contract assets   69,354    26,989 
Due from a related company   -    41,532 
Cash and cash equivalents   76,620    1,183,176 
Financial assets   512,326    1,541,627 
Financial liabilities          
Trade payables   788,798    187,584 
Other payables   11,057    5,081 
Tax payables   8,917    - 
Due to related companies   34,579    - 
Due to immediate holding company   5,345,929    506 
Loan from a related company   1,930,993    2,328,926 
Loans from immediate holding company   1,140,931    1,060,713 
Lease liabilities   365,356    - 
Financial liabilities   9,626,560    3,582,809 
Valuation techniques [member]    
IfrsStatementLineItems [Line Items]    
SCHEDULE OF VALUATION TECHNIQUES
Financial instruments 

Amount as at

30 September 2024

  

Amount as at

31 March 2024

   Valuation techniques and key inputs
Preferred shares (Note 1)  $6,189,000   $9,359,000  

The Discounted Cash Flows (“DCF”) method was used to determine the total equity value of the Group by capturing the present value of the expected cash flows.

 

Equity allocation model was then used to allocate the total equity value of the Group to different classes of shares of the Company.

              
Convertible loan notes (Note 2)  $5,017,000   $3,743,000   Binomial Option Pricing Model

 

Notes:

 

1.An increase in the revenue growth rate used in isolation would result in an increase in the fair value measurement of the preferred shares, and vice versa, while a slight increase in the discount rate used in isolation would result in a decrease in the fair value measurement of the preferred shares, and vice versa. A 1% (31 March 2024: 1%) increase in the discount rate holding all other variables constant would decrease the carry amount of the preferred shares by $0.4 million (31 March 2024: $0.9 million) while a 1% (31 March 2024: 1%) decrease in the discount rate holding all other variables constant would increase the carry amount of the preferred shares by $0.5 million (31 March 2024: $1.1 million). A 1% (31 March 2024: 1%) increase in the revenue growth rate holding all other variables constant would increase the carry amount of the preferred shares by $0.3 million (31 March 2024: $0.6 million) while a 1% (31 March 2024: 1%) decrease in the revenue growth rate holding all other variables constant would decrease the carry amount of the preferred shares by $0.3 million (31 March 2024: $0.6 million).

 

2.A 1% increase in the discount rate used in isolation would result in a minimal decrease in the fair value measurement of the convertible loan notes, and vice versa.

 

Financial instruments 

Amount as at

31 March 2024

  

Amount as at

31 March 2023

   Valuation techniques and key inputs
Preferred shares
(Note 1)		  $9,359,000   $13,460,000   The Discounted Cash Flows (“DCF”) method was used to determine the total equity value of the Group by capturing the present value of the expected cash flows.
 
Equity allocation model was then used to allocate the total equity value of the Group to different classes of shares of the Company.
              

Convertible loan notes

(Note 2)

  $3,743,000   $3,269,000   Binomial Option Pricing Model

 

Notes:

 

1.An increase in the revenue growth rate used in isolation would result in an increase in the fair value measurement of the preferred shares, and vice versa, while a slight increase in the discount rate used in isolation would result in a decrease in the fair value measurement of the preferred shares, and vice versa. A 1% (2023: 1%) increase in the discount rate holding all other variables constant would decrease the carry amount of the preferred shares by $0.9 million (2023: $1.4 million) while a 1% (2023: 1%) decrease in the discount rate holding all other variables constant would increase the carry amount of the preferred shares by $1.1 million (2023: $1.6 million). A 1% (2023: 1%) increase in the revenue growth rate holding all other variables constant would increase the carry amount of the preferred shares by $0.6 million (2023: $1.1 million) while a 1% (2023: 1%) decrease in the discount rate holding all other variables constant would decrease the carry amount of the preferred shares by $0.6 million (2023: $1.1 million).

 

2.A 1% increase in the discount rate used in isolation would result in a minimal decrease in the fair value measurement of the convertible loan notes, and vice versa.
Recurring fair value measurement [member]    
IfrsStatementLineItems [Line Items]    
SCHEDULE OF VALUATION TECHNIQUES
Fair value measurements using level 3  At
30 September 2024		   At
31 March 2024		 
   USD   USD 
Recurring fair value          
Preferred shares   6,189,000    9,359,000 
Convertible loan notes   5,017,000    3,743,000 
    11,206,000    13,102,000 

 

Fair value measurements using level 3  At
31 March 2024		   At
31 March 2023		 
   USD   USD 
Recurring fair value          
Preferred shares   9,359,000    13,460,000 
Convertible loan notes   3,743,000    3,269,000