14. Property, plant and equipment (PPE)
The following table presents the reconciliation of changes in the carrying value of PPE for the year ended 31 March 2025 and 31 March 2024:
Leasehold improvements $m | Building $m | Land $m | Plant and equipment1 $m | Furniture and fixture $m | Vehicles $m | Office equipment $m | Computer $m | Total $m | Capital work in progress2 $m | |
|---|---|---|---|---|---|---|---|---|---|---|
1 Includes PPE secured against the Group’s borrowings outstanding of $292m and $139m as at 31 March 2025 and 31 March 2024 respectively. For details of the security (refer to note 21.2). 2 The carrying value of capital work-in-progress as of 31 March 2025 and 31 March 2024 mainly pertains to plant and equipment. 3 Related to the reversal of gross carrying value and accumulated depreciation on retirement/ disposal of PPE and reclassification from one category of asset to another. 4 Opening hyperinflationary adjustment as at 1 April 2024 related to Malawi operations (refer to note 5(g)). | ||||||||||
Gross carrying value | ||||||||||
Balance as of 1 April 2023 | 49 | 43 | 25 | 3,249 | 70 | 22 | 61 | 696 | 4,215 | 212 |
Additions/capitalisation | 1 | – | 1 | 556 | 10 | – | 15 | 45 | 628 | 722 |
Disposals/adjustments3 | – | (1) | – | (29) | (5) | – | – | (4) | (39) | (628) |
Foreign currency translation impact | (6) | (9) | (2) | (1,394) | (14) | (1) | (19) | (144) | (1,589) | (74) |
Balance as of 31 March 2024 | 44 | 33 | 24 | 2,382 | 61 | 21 | 57 | 593 | 3,215 | 232 |
Balance as of 1 April 2024 | 44 | 33 | 24 | 2,382 | 61 | 21 | 57 | 593 | 3,215 | 232 |
Opening hyperinflationary adjustment4 | 1 | 13 | 0 | 204 | 4 | 1 | 4 | 46 | 273 | 0 |
Additions/ capitalisation | 0 | – | 0 | 576 | 6 | 1 | 20 | 72 | 675 | 651 |
Disposals/ adjustments3 | (0) | – | – | (4) | (0) | (0) | (1) | (2) | (7) | (675) |
Foreign currency translation impact | (0) | (1) | (0) | (135) | (2) | (0) | (1) | (15) | (154) | (14) |
Hyperinflationary impact for the period | 1 | 6 | 0 | 115 | 3 | 0 | 3 | 25 | 153 | – |
Balance as of 31 March 2025 | 46 | 51 | 24 | 3,138 | 72 | 23 | 82 | 719 | 4,155 | 194 |
Accumulated Depreciation | ||||||||||
Balance as of 1 April 2023 | 42 | 19 | – | 1,137 | 30 | 20 | 39 | 633 | 1,920 | – |
Charge | 2 | 2 | – | 341 | 12 | 0 | 15 | 34 | 406 | – |
Disposals/ adjustments3 | (0) | (0) | – | (35) | (5) | 1 | 3 | 1 | (35) | – |
Foreign currency translation impact | (6) | (5) | – | (739) | (9) | (1) | (14) | (129) | (903) | – |
Balance as of 31 March 2024 | 38 | 16 | – | 704 | 29 | 20 | 43 | 539 | 1,388 | – |
Balance as of 1 April 2024 | 38 | 16 | – | 704 | 29 | 20 | 43 | 539 | 1,388 | – |
Opening hyperinflationary adjustment4 | 1 | 8 | – | 175 | 3 | 1 | 4 | 46 | 238 | – |
Charge | 1 | 3 | – | 341 | 13 | 0 | 16 | 38 | 412 | – |
Disposals/ adjustments3 | (0) | – | – | (3) | (0) | (0) | (1) | (2) | (6) | – |
Foreign currency translation impact | (0) | (1) | – | (70) | (1) | (0) | (1) | (12) | (85) | – |
Hyperinflationary impact for the period | 1 | 4 | – | 89 | 2 | 1 | 2 | 22 | 121 | – |
Balance as of 31 March 2025 | 41 | 30 | – | 1,236 | 46 | 22 | 63 | 631 | 2,069 | – |
| ||||||||||
Net carrying value | ||||||||||
As of 1 April 2023 | 7 | 24 | 25 | 2,112 | 40 | 2 | 22 | 63 | 2,295 | 212 |
As of 31 March 2024 | 6 | 17 | 24 | 1,679 | 31 | 1 | 15 | 54 | 1,827 | 232 |
As of 31 March 2025 | 5 | 21 | 24 | 1,902 | 26 | 1 | 19 | 88 | 2,086 | 194 |