The following table presents the reconciliation of changes in the carrying value of PPE for the years ended 31 March 2026 and 31 March 2025:
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 $291m and $292m as at 31 March 2026 and 31 March 2025 respectively. For details of the security, refer to note 23.2. 2 The carrying value of capital work-in-progress as of 31 March 2026 and 31 March 2025 mainly pertains to plant and equipment. 3 Opening hyperinflationary adjustment as at 1 April 2024 related to Malawi operations (refer to note 11). 4 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. During the year ended 31 March 2026, the Group has reclassified assets amounting to $59m (gross carrying value: $86m, and accumulated amortisation: $27m) from property, plant and equipment to other intangible assets. | ||||||||||
Gross carrying value | ||||||||||
Balance as of 1 April 2024 | 44 | 33 | 24 | 2,382 | 61 | 21 | 57 | 593 | 3,215 | 232 |
Opening hyperinflationary adjustment3 | 1 | 13 | 0 | 204 | 4 | 1 | 4 | 46 | 273 | 0 |
Additions/capitalisation | 0 | – | 0 | 576 | 6 | 1 | 20 | 72 | 675 | 651 |
Disposals/adjustments4 | (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 |
Balance as of 1 April 2025 | 46 | 51 | 24 | 3,138 | 72 | 23 | 82 | 719 | 4,155 | 194 |
Additions/capitalisation | 1 | 0 | 0 | 666 | 8 | 3 | 17 | 26 | 721 | 785 |
Disposals/adjustments4 | (0) | (1) | – | (54) | (0) | (0) | (0) | (400) | (455) | (730) |
Foreign currency translation impact | 2 | 3 | 1 | 285 | 5 | 1 | 6 | 39 | 342 | 16 |
Hyperinflationary impact for the year | 0 | 5 | 0 | 100 | 3 | 0 | 3 | 11 | 122 | 0 |
Balance as of 31 March 2026 | 49 | 58 | 25 | 4,135 | 88 | 27 | 108 | 395 | 4,885 | 265 |
Accumulated Depreciation | ||||||||||
Balance as of 1 April 2024 | 38 | 16 | – | 704 | 29 | 20 | 43 | 539 | 1,388 | – |
Opening hyperinflationary adjustment3 | 1 | 8 | – | 175 | 3 | 1 | 4 | 46 | 238 | – |
Charge | 1 | 3 | – | 341 | 13 | 0 | 16 | 38 | 412 | – |
Disposals/adjustments4 | (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 | – |
Balance as of 1 April 2025 | 41 | 30 | – | 1,236 | 46 | 22 | 63 | 631 | 2,069 | – |
Charge | 1 | 3 | – | 415 | 12 | 1 | 17 | 17 | 466 | – |
Disposals/adjustments4 | (0) | (1) | – | (47) | (0) | (0) | (0) | (341) | (389) | – |
Foreign currency translation impact | 2 | 2 | – | 169 | 5 | 0 | 6 | 33 | 217 | – |
Hyperinflationary impact for the year | 0 | 3 | – | 79 | 2 | 0 | 2 | 11 | 97 | – |
Balance as of 31 March 2026 | 44 | 37 | – | 1,852 | 65 | 23 | 88 | 351 | 2,460 | – |
| ||||||||||
Net carrying value | ||||||||||
As of 1 April 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 |
As of 31 March 2026 | 5 | 21 | 25 | 2,283 | 23 | 4 | 20 | 44 | 2,425 | 265 |