Zomato Annual Report 2023-24

Annual Report 2023-24
OUR MISSION STATEMENT
“ Powering India's
changing lifestyles
OUR VISION STATEMENTS
Better food for more people

”
Instant commerce
indistinguishable from magic
Make India malnutrition free

Table of contents
Company Overview
Financial highlights 01
Our key businesses 02
Operational and financial highlights 10
ESG update 27
Corporate information 34
Statutory Reports
Management discussion and analysis 35
Board report 41
Report on corporate governance 128
Financial Statements
Consolidated auditor’s report 154
Consolidated financial statements 164
Standalone auditor’s report 265
Standalone financial statements 280
Company Overview: Financial highlights | Statutory Reports | Financial Statements
Financial highlights
GOV (B2C business) and consolidated Adjusted Revenue grew 48% and 56% YoY respectivel
Consolidated business turned Adjusted EBITDA, EBITDA & PAT profitable for the full year in FY24
FY24 non-GAAP metrics
GOV (B2C business) Adjusted Revenue Adjusted EBITDA
INR 47,918 crore INR 13,545 crore INR 372 crore

48% 56% INR 1,155 crore
YoY growth YoY growth YoY improvement
FY24 GAAP metrics
Revenue EBITDA PAT
INR 12,114 crore INR 42 crore INR 351 crore

71% INR 1,252 crore INR 1,322 crore
YoY growth YoY improvement YoY improvement
Notes:
GOV (B2C business) defined as the combined gross order value (GOV) of consumer facing businesses i.e. food delivery, quick commerce and Going-out
Adjusted Revenue defined as consolidated revenue from operations as per financials (+) actual customer delivery charges paid in the food delivery
business (net of any discounts, including free delivery discounts on Zomato Gold program) (+) platform fee paid in the food delivery business (that is
not already included in reported revenue from operations).
Adjusted EBITDA defined as consolidated EBITDA (+) share-based payment expense (-) rental paid for the period pertaining to ‘Ind AS 116 leases’.
1
Company Overview: Our key businesses | Statutory Reports | Financial Statements
Our key businesses INR crore

Gross order
Adjusted
Adjusted
value (GOV) Revenue EBITDA
A. Food delivery
Food ordering and delivery
platform where customers can
32,224 7,792 912
search and discover local 23% YoY 27% YoY 922 YoY
restaurants, order food, and have
it delivered reliably and quickly
B. Quick commerce
B2C business
Quick delivery (in <15 minutes)

of products across categories
12,469 2,301 -384
(fresh, staples, electronics, 93% YoY 116% YoY 632 YoY
beauty, general merchandise,
festive needs ++)
C. Going-out
Combination of Dining-out &
ticketing business. Enables (a)
3,225 258 -6
discovery and transactions for 136% YoY 51% YoY 7 YoY
dining-out and (b) ticketing for
events and outdoor entertainment
Total
(B2C businesses) 47,918 10,351 522
D. B2B supplies
B2B business (Hyperpure) - 3,172 -126
supplying quality food ingredients
and other products to restaurants 111% YoY 68 YoY
and other B2B buyers
Others - 22 -24
Total
(All businesses) - 13,545 372
Note: YoY comparison for quick commerce is based on full fiscal FY23 numbers which are unaudited, MIS based as received from
Blinkit. Consolidation of Blinkit numbers in books of Zomato Limited is only from August 10, 2022 (transaction closing date).
2
A. Food delivery
Zomato operates a B2C technology platform that provides customers with a seamless, on-demand solution
to search and discover local restaurants, order food, and have it delivered reliably and quickly. Orders placed
by customers are prepared by restaurants and fulfilled through a last mile delivery fleet comprising of
independent delivery partners.
FY24 key metrics

GOV Orders Average monthly
transacting customers
INR 32,224 crore 753 million 18.4 million

23% 16% 8%
YoY growth YoY growth YoY growth
Average monthly active

Average monthly active Active Zomato Gold
delivery partners food delivery members (Mar-24)
restaurant partners
400k 247k 7.4 million

22% 18% 3x
We also run a membership program called Zomato Gold which provides customers with multiple benefits
including free delivery on orders meeting certain criteria and exclusive offers from a number of restaurants
on both delivery and dining-out. At the end of Mar-24, we had 7.4 million active Gold members on our
platform.
Select ongoing and new initiatives to address more customer use cases -
15 min delivery
Everyday Legends Food on train Large Deals Healthy
Iconic parties Delivery at seat On large orders Curated dishes
Zomato Everyda
Zomato Everyday is an offering for home-style cooked meals at affordable price
point
The offering is still nascent and is being piloted in select locations within Delhi NCR,
Bengaluru and Mumbai currently
Zomato Legend
Zomato Legends lets customers order iconic dishes from legendary restaurants
across the country and have them delivered to their doorste
Currently available in 8 cities in India with ~80 legendary restaurants on-boarded
Food on trai
Partnership with IRCTC offering delivery of restaurant food to customers at their
train seats
Customers can order up to 30 minutes prior to station arrival and access benefits
like real-time tracking, guaranteed delivery and free cancellation
Offering live across 80+ train stations pan-India
Large order flee

Launched India’s first large order fleet to improve customer experience while
handling large orders that may not be carried on a two-wheele
Custom EV three-wheeler fleet designed to serve orders for a gathering of up to
50 people
Health
Enables health conscious customers to order food delivery from dishes hand-picked
by nutritionists and prepared by some of the finest restaurants
Customers can select dishes based on their preferences (high protein, low carbs, low
calorie, etc.) and can also view the entire nutritional information about each dish
4
B. Quick commerce
Blinkit is a quick commerce marketplace providing on-demand delivery of thousands of products across
multiple categories in <15 minutes. Customers can place orders on the Blinkit app which are fulfilled through
a network of stores located within a 2-3 km radius from the customer and are delivered by a last mile delivery
fleet of independent delivery partners. Customers can access an assortment of products across categories
including daily essentials, electronics, beauty & personal care, home décor, toys & games, general
merchandise and many more, which are customized based on local preferences of each neighbourhood that
we serve.
We completed the acquisition of Blinkit in FY23 (on August 10, 2022) and hence FY24 was the first full year of
operations for Blinkit as a wholly-owned subsidiary of the Company.
FY24 key metrics
GOV Orders Average monthly

transacting customers
INR 12,469 crore 203 million 5.1 million

93% 71% 73%
Average GOV per day, # of stores

Warehousing capacity1
per store (Mar-24) (Mar-24)
INR 797k 526 4.8 million sqft

69% 149 stores 28%
YoY growth YoY increase YoY growth
Note
Includes warehousing space across active warehouses and stores in our quick commerce operations
YoY computation is based on Blinkit data for the full fiscal year FY23, and is based on unaudited MIS numbers as received from Blinkit.
5
During FY24, Blinkit expanded the assortment available on its platform to cater to the most
pertinent needs of customers across existing and new product categories.
Highlights from our product assortment and category expansion -
Toys and
Home
games improvement
Plants &
bouquets
Everything you
need, delivered
Sports
in minutes
Print-outs Gaming
Luggage
Fashion
jewellery
6
PAY
Reserve
C. Going-out
Going-out is our third B2C business (after food delivery and quick commerce) and addresses the ‘going-out’
needs of our customers. It currently comprises of (i) our dining-out business and (ii) our nascent ticketing
business ‘Zomato Live’. The intent is to add more use-cases over time to create a single destination for
customers to discover and transact across all their going-out needs.
(i) Dining-out
Enables discovery, table reservation, and transactions for dining-out across

restaurants in India and the UAE
Customers can discover local restaurants by accessing reviews & ratings,

and search for new dining-out options by browsing through curated
restaurant collections. They can reserve tables and access exclusive offers
by paying dining-out bills through the Zomato ap
Restaurants can market themselves to a high-intent customer base and get
measurable ROI on marketing spend
Offering currently focused on 40+ cities across India
(ii) Ticketing
Offers discovery and ticketing services primarily for events such as food
carnivals, music concerts, comedy shows and others
The ticketing platform has been launched in 13 cities in India, through a

separate 'Live' tab on the Zomato app in these location
Focus currently is to build a diverse and engaging line-up of events (both co-
produced and third-party) to drive strong customer engagement
Going-out GOV grew 136% YoY to INR 3,225 crore in FY24
7
FY24 Going-out highlights
Dining-out
The dining-out business saw significant growth last fiscal year, expanding into over 40 cities and adding a
host of restaurant partners, thereby broadening the breadth and quality of supply available to our customers.
To further enhance the dining-out ecosystem, we introduced new features, including map view, curated
dining experiences, and group booking options.
Up to 50% OFF
We launched Go Out, a vibrant online We also ran the Zomato Gold Carnival offering
community for recommendations on going-out exclusive deals and discounts on dining out
with followers across Instagram and YouTube which saw strong customer traction.
in 8 cities.
Ticketing
In ticketing, our focus currently is to build high-quality supply of events on our platform and to this effect we
hosted several marquee events in FY24, including the Russell Peters India Tour, The Sneaker Convention and,
our flagship IP, Zomaland.
8
D. B2B supplies
Hyperpure is our B2B supplies business supplying quality food ingredients
and other products to restaurants and other B2B buyers.
Hyperpure is solving ‘sourcing’ for restaurants as the restaurant B2B
supplies market in India is highly fragmented and unorganized, leading to
inconsistency in product quality, availability and yield.
Hyperpure solves this through its end-to-end B2B supply chain for food
ingredients and other products. Hyperpure operates a 1P model (i.e., owns
inventory) where it sources directly from farmer producer organizations,
traders & brands and supplies to restaurants and other B2B buyers.
FY24 key metrics

Revenue Unique outlets billed Warehousing capacity (Mar-24)
INR 3,172 crore 76,561 0.7 million sq.ft.

111% 6% 22%
In FY24, Hyperpure expanded its offerings to further strengthen its portfolio of products and services to
serve its customers better. Key initiatives include:
4PL warehousing and supply chain services: End-to-end logistics and supply chain
management solutions for restaurants including procurement, warehousing and final supply at
restaurants
Value added products: Setting up our own manufacturing facility for value added food supplies
including, sauces, spreads, pre-cut and semi-finished perishable products amongst others, to
expand margins and drive higher engagement with customers
Express delivery: Offering quick delivery (within a few hours) of quality products to address
immediate needs of customers
9
Company Overview: Operational and financial highlights | Statutory Reports | Financial Statements
FY24 operational and financial highlights
Overall Company
Topline grew at a healthy pace - B2C GOV grew 48% YoY and Adjusted
1 Revenue grew 56% YoY
GOV (B2C Business) Adjusted Revenue

INR crore INR crore
48% YoY
47,918 56% YoY
13,545
52% YoY
57% YoY 3,172
32,308
8,693
21,297 1,506
5,541
10,373
7,187
FY22 FY23 FY24 FY22 FY23 FY24

B2C business and others B2B business
GOV (B2C business) grew 48% YoY to INR 47,918 crore in FY24 driven by growth across all three of
our B2C businesses – food delivery, quick commerce and Going-out
Food delivery GOV grew 23% YoY to INR 32,224 crore in FY2
Quick commerce GOV grew 169% YoY to INR 12,469 crore in FY2
Going-out GOV grew 136% YoY to INR 3,225 crore in FY24
Consolidated Adjusted Revenue grew 56% YoY to INR 13,545 crore in FY24 driven by growth across
our B2C businesses as well as our B2B supplies business (Hyperpure). FY24 also had the impact of
the first full year of consolidation of Blinkit financials as compared to FY23 which consolidated
Blinkit financials from 10-Aug-22 onwards (transaction closing date).
F U N FA C T
Zomato's biggest food delivery order of FY24 came from Bengaluru, where
a user placed a single order worth INR 32,828.
10
Consolidated business turned Adjusted EBITDA, EBITDA and PAT

2 profitable for the full fiscal year
Adjusted EBITDA Profit after tax (PAT)

INR crore INR crore
-1,851 -1,210 42
372 351
-783
-973 -971
-1,223
Adjusted EBITDA EBITDA (INR crore)
Consolidated Adjusted EBITDA improved to INR 372 crore in FY24 from a loss of INR 783 crore in
FY23. Improvement in Adjusted EBITDA profitability was primarily driven by (a) improvement in food
delivery Adjusted EBITDA margin and (b) significant reduction in losses in our quick commerce
business (which also turned Adjusted EBITDA positive in the month of Mar-24). Consolidated
EBITDA was positive for the full fiscal at INR 42 crore.
The Company also turned PAT profitable for the first time ever in FY24 reporting a consolidated PAT
of INR 351 crore compared to a loss of INR 971 crore in FY23.
3 Cash balance increased to INR 12,241 crore in FY24
Consolidated business generated surplus cash of Consolidated cash balance

INR 918 crore in FY24 largely driven by positive INR crore
INR 918 crore YoY
consolidated Adjusted EBITDA of INR 372 crore
and treasury income received of INR 18 crore. 6
12,22 0 INR 897 crore YoY

12,241
,
11,323
Additionally net working capital reduced by INR
118 crore YoY .
,
As of Mar-24 consolidated cash balance stood at
,
INR 12 241 crore.
FY22 FY23 FY24
11
A. Food delivery
1 GOV grew 23% YoY driven by both order volume growth and AOV growth
Food delivery GOV Food delivery Orders

INR crore million
398 407 428

23% YoY
32,224 753
24% YoY
647
26,305
535
21,297

Food delivery Orders AOV (INR)
The 23% YoY GOV growth was driven by a 16% YoY growth in order volumes and a 5% YoY growth in
AOV. The following three factors supported GOV growth during the year - (i) visible recovery in
demand in FY24 after a relatively weak demand environment in the second half of FY23, (ii)
growing adoption of our Gold program and (iii) strong execution by the team especially around
ensuring delivery partner availability during periods of peak demand.
Order volume growth was driven by growth in both transacting customers

2 and order frequency
The 16% YoY order volume growth was driven Annual transacting customers
by a 9% YoY growth in annual transacting million
customers (ATCs) and a 7% growth in annual
ordering frequency.
10.1 11.1 11.9
63
Average monthly transacting customers grew 58
53
8% YoY to 18.4 million as more of our ATCs
started transacting every month (reflected in
the increasing annual order frequency).
We also continued to see healthy growth in

power customers (order frequency of >50
times a year) which grew 24% YoY to 3.4
million in FY24.
FY22 FY23 FY24
Annual transacting customers Annual ordering frequency (#)
12
Our restaurant partner base and delivery partner network expanded

3 meaningfully
Average monthly active food delivery restaurant

Average monthly active delivery partners
partners ‘000
‘000
400
247
210 326
180 285
The food delivery market in India continues to remain underserved from a restaurant supply
standpoint. In FY24, the monthly active restaurant base grew 18% YoY to 247k driven by new
restaurants opening-up and our coverage of existing restaurants increasing.
Average monthly active delivery partner base grew 22% YoY to 400k in FY24 supporting the growth
in the food delivery business.
4 Adjusted Revenue grew at a faster pace vis-a-vis GOV
Adjusted Revenue grew 27% YoY to INR 7,792 Food delivery Adjusted Revenue
crore in FY24. Adjusted Revenue as a % of INR crore
GOV, continued to increase primarily due to (i)
increase in restaurant commission take- 22.4% 23.4% 24.2%
rates, (ii) improvement in ad monetization and 27% YoY
(iii) introduction of platform fee from Q2FY24 7,792
29% YoY
onwards.
6,147
All of these factors more than compensated 4,763

for the reduction in customer delivery charge
per order due to the free delivery benefit
available on Gold orders.
FY22 FY23 FY24

Adjusted Revenue Adjusted Revenue as a % of GOV
13
Food delivery business reported its first full year of Adjusted EBITDA
5 profit in FY24
Food delivery business reported positive Food delivery Adjusted EBITDA

Adjusted EBITDA of INR 912 crore in FY24 as INR crore
compared to a loss of INR 10 crore in FY23.
-3.6% -0.0% 2.8%

Improvement in Adjusted EBITDA was driven
by (a) higher average order value, (b) 912
improvement in take rate and ad
monetization, (c) introduction of platform fee
and (d) cost efficiencies.
-10
-766
FY22 FY23 FY24

Adjusted EBITDA Adjusted EBITDA margin (% of GOV)
Fun fa c t
Most late-night orders in the last fiscal year came from Delhi NCR, while
most breakfast orders came from Bengaluru.
14
B. Quick commerce
Note: Blinkit FY23 data shown below is for the full fiscal year and is based on unaudited MIS numbers
as received from Blinkit. Consolidation of Blinkit in the books of Zomato Limited is from 10-Aug-2022
onwards (transaction closing date).
1 GOV grew 93% YoY in FY24
Quick commerce GOV Quick commerce Orders

INR crore million
470 797 541 613
93% YoY
12,469
203
119
6,449
FY23 FY24 FY23 FY24

GOV Average GOV per day,
Orders AOV (INR)
per store (INR’000)
GOV grew 93% YoY to INR 12,469 crore in FY24 driven by a 71% YoY growth in order volumes and
13% YoY increase in AOV.
Order volumes grew 71% YoY to 203 million in FY24 largely in line with the 73% YoY growth in
average monthly transacting customers, while average monthly ordering frequency at an
aggregate level remained largely flattish.
The GOV growth was largely on account of higher throughput from our existing store network,
reflected in the 70% YoY growth in average GOV per day, per store.
Average monthly active riders increased to 67k in FY24 from 34k in FY23 in line with the growth in
the overall business.
F U N FA C T
A Blinkit customer from Ahmedabad placed 2,650+ orders in FY24 - that's

one order every 3-4 hours every single day.
15
2 Average monthly transacting customers grew 73% YoY to 5.1 million in

FY24
The 73% growth in average monthly transacting Average monthly transacting customers
customers was largely on account of healthy new million
customer acquisition led by (i) new customer
adoption in existing locations, (ii) expansion of 5.1
serviceable locations within existing cities and new
cities and (iii) expansion in product assortment to
address multiple new use-cases beyond grocery and
essentials. 2.9
FY23 FY24
3 Our store network expanded meaningfully in FY24
Stores at the end of the period Warehouse capacity

# million square feet
19 26
526
4.8
377 3.7
Mar-23 Mar-24 Mar-23 Mar-24
Stores at the end of the period # of cities
In FY24, we added 149 net new stores, taking the store count to 526 as at the end of the fiscal year.
Most of the new store addition was focused on (a) existing neighborhoods where we were exceeding
current store capacity or (b) covering more neighborhoods in existing cities. We aim to get to 1,000
stores by the end of FY25. Warehousing capacity increased 28% YoY to 4.8 million sqft in FY24 largely
driven by store expansion.
16
4 Revenue grew at a faster pace vis-a-vis GOV
Revenue grew faster than GOV at 116% YoY to INR Quick commerce Revenue
2,301 crore in FY24. Revenue as a % of GOV INR crore
increased by ~2 percentage points YoY driven by
improvement across all key revenue levers - 16.5% 18.5%
commission, ad monetization and customer delivery 116% YoY
charges. 2,301
1,063
FY23 FY24
Revenue Revenue as a % of GOV
5 Quick commerce business achieved Adjusted EBITDA breakeven in

Mar-24
Quick commerce Adjusted EBITDA margin Quick commerce Adjusted EBITDA

improved substantially to -3.1% in FY24 from INR crore
-15.7% in FY23. The business also turned Adjusted
EBITDA positive for the first time in the month of - 15.7% .1%
-3
Mar-24.
The improvement in Adjusted EBITDA margin in

FY24 was driven by both revenue and cost levers.
Revenue per order increased due to (a) increase in -384
AOV and (b) higher commission, ad revenue and
delivery charges per order. Cost per order reduced
mainly on account of (a) lower supply chain cost
per order due to higher throughput per store and -1,016
(b) efficiencies in fixed costs below Contribution.
FY23 FY24 r 24
Ma -
In steady state, we expect a 4-5% Adjusted Adjusted EBITDA Adjusted EBITDA margin (% of GOV)
EBITDA margin (% of GOV) in this business.
17
C. Going-out
In FY24, we combined our existing dining-out business and the nascent ticketing business into a new
segment called ‘Going-out’. This is now the third B2C business coming out of Zomato (after food delivery
and quick commerce).
Note: We have shared corresponding FY23 numbers for the Going-out segment below for reference.
1 GOV grew 136% YoY in FY24
Going-out GOV Going-out Revenue

INR crore INR crore
51% YoY
258
136% YoY
3,225
171
1,366
FY23 FY24 FY23 FY24
The 136% YoY GOV growth was largely driven by growth in the India dining-out business. In FY24,
Going-out GOV has scaled to ~10% of our food delivery GOV. The ticketing business is still nascent
with a large untapped opportunity ahead.
Adjusted Revenue grew 51% YoY to INR 258 crore in FY24 from INR 171 crore in FY23.
F U N FA C T
A customer in Mumbai paid a dining-out bill of ~INR 4 lakhs through the

Zomato app and saved INR 95,000 on this transaction.
18
2 Adjusted EBITDA loss reduced to INR 6 crore in FY24
Improvement in profitability was largely driven by Going-out Adjusted EBITDA

the India dining-out business which generated INR crore
positive Adjusted EBITDA in FY24.
-1.0% -0.2%
Our ticketing business incurred losses largely
driven by growth investments in this business given
its nascent stage.
-6
-13
FY23 FY24
Adjusted EBITDA Adjusted EBITDA margin (% of GOV)
F U N FA C T
Bengaluru saw more table reservations in FY24 compared to Pune, Hyderabad,

Kolkata, Jaipur and Ahmedabad combined!
19
D. B2B supplies (Hyperpure)
Hyperpure revenue grew 111% YoY in FY24 along with meaningful

1 improvement in profitability
Hyperpure Revenue Hyperpure Adjusted EBITDA

INR crore INR crore
111% YoY
3,172
-26% -13% -4%
180% YoY
1,506
-126
538 -139
-194
Adjusted EBITDA Adjusted EBITDA margin (% of revenue)
Hyperpure revenue grew 111% YoY to INR 3,172 crore in FY24 driven by growth in both the core
restaurant supplies business and the newer quick commerce opportunity that we started tapping
into in FY23. Growth in the core restaurant business was primarily driven by increase in transacting
restaurants, better gross margins across select product categories and expansion of serviceable
locations.
Adjusted EBITDA margin improved to -4% in FY24 compared to -13% in FY23 driven by (a) gross
margin expansion due to better sourcing and growing mix of high margin categories, (b) increase in
minimum order value threshold leading to improvement in AOV (as a result of churn in smaller
unprofitable restaurants), and (c) scale related supply chain cost efficiencies.
F U N FA C T
In FY24, Hyperpure sold 50,000 kgs of sustainable packaging to
1,190 outlets.
20
FY24 operational and financial highlights summary

Adjusted Revenue
INR crore, unless otherwise mentioned FY22 FY23 FY24
Food delivery 4,763 6,147 7,792
Quick commerce(1) - 806 2,301
Going-out(2) - 171 258
B2B supplies (Hyperpure) 538 1,506 3,172
Others(3) 240 63 22
Total 5,541 8,693 13,545
YoY % change 109% 57% 56%
Adjusted EBITDA
Food delivery -766 -10 912
Quick commerce(1) - -562 -384
Going-out(2) - -13 -6
B2B supplies (Hyperpure) -139 -194 -126
Others(3) -68 -3 -24
Total -973 -783 372
Notes:
Consolidation of Blinkit numbers in books of Zomato Limited is only from August 10, 2022 onwards (transaction
closing date)
Till FY23, ‘Others’ included (a) dining-out revenue in India and UAE, (b) revenue from Zomato Live that includes events
like Zomaland and (c) other revenue. During FY24 (Q2FY24 onwards), we have re-classified "Going-out" as a separate
business segment which includes dining-out (India & UAE) + ticketing. We have shared corresponding FY23 numbers
for the Going-out segment above for reference. Prior to FY23, Dining-out business (India + UAE) is a part of ‘Others’
segment
Till FY23 (specifically till Q3FY23), there were two other sub-segments included in ‘Others’ - (i) revenue from food
delivery services that we offered to Talabat in UAE which was a pass-through revenue (EBITDA neutral) and has been
discontinued in Nov-22 and (ii) revenue from our Zomato Pro and Pro plus membership programs in India, which have
been discontinued in FY23. For FY24, ‘Others’ includes Zomato Payments Private Limited (ZPPL) and Zomato Limited
Services Private Limited (ZLSPL)
Adjusted Revenue shown above does not include inter-segment revenue
There could be some totalling anomalies in the numbers displayed above due to the impact of rounding off.
21
Food delivery
Financial metrics
GOV 21,297 26,305 32,224
Adjusted Revenue 4,763 6,147 7,792
Contribution 352 1,196 2,225
Contribution as a % of GOV 1.7% 4.5% 6.9%
Adjusted EBITDA -766 -10 912
Adjusted EBITDA as a % of GOV -3.6% -0.0% 2.8%
Operating metrics
million, unless otherwise mentioned FY22 FY23 FY24
Orders 535 647 753
Average order value (INR) 398 407 428
Average monthly transacting customers 14.7 17.0 18.4
Average monthly active food delivery restaurant partners (‘000) 180 210 247
Average monthly active delivery partners (‘000) 285 326 400
Quick commerce
Financial metrics
INR crore, unless otherwise mentioned FY23 FY24
GOV 6,449 12,469
Revenue 1,063 2,301
Contribution -445 266
Contribution margin (as a % of GOV) -6.9% 2.1%
Adjusted EBITDA -1,016 -384
Adjusted EBITDA (as a % of GOV) -15.7% -3.1%
Operating metrics
million, unless otherwise mentioned FY23 FY24
Orders 119 203
Average order value (INR) 541 613
Average monthly transacting customers 2.9 5.1
Average GOV per day, per store (INR ‘000) 470 797
Note: FY23 numbers shown above are unaudited, MIS based numbers as received from Blinkit. Consolidation of Blinkit numbers in
books of Zomato Limited is only from August 10, 2022 (transaction closing date).
22
Hyperpure
Financial metrics
Revenue 538 1,506 3,172
Adjusted EBITDA -139 -194 -126
Adjusted EBITDA as a % of GOV -26% -13% -4%
Going-out
Financial metrics
INR crore, unless otherwise mentioned FY23 FY24
GOV 1,366 3,225
Adjusted EBITDA -13 -6
Adjusted EBITDA as a % of GOV -1.0% -0.2%
23
Company Overview: Glossary | Statutory Reports | Financial Statements
Glossary
Consolidated
Term Description
Consolidated revenue from operations as per financials which includes food
Revenue delivery Revenue (+) Hyperpure (B2B supplies) Revenue (+) Quick commerce
Revenue (+) Going-out Revenue
Defined as Revenue (+) actual customer delivery charges paid in the food
delivery business (net of any discounts, including free delivery discounts on
Adjusted Revenue
account of Zomato Gold program) (+) platform fee paid in the food delivery
business (that is not already included in Revenue)
Defined as EBITDA (+) share-based payment expense (-) rental paid for the
Adjusted EBITDA
period pertaining to ‘Ind AS 116 leases’
Food delivery
Term Description
Food delivery business Refers to India food ordering and delivery business
All food delivery orders placed on our platform in India, including canceled
Orders
orders
Total monetary value of Orders gross of any restaurant or platform funded
discounts (excluding tips) (+) actual customer delivery charges paid (net of
Gross order value (GOV) any discounts, including free delivery discounts on account of Zomato Gold
program) (+) platform fee paid by the customer (+) packaging charges (+)
taxes
Average order value (AOV) GOV divided by number of Orders
Defined as commission and other charges (+) ad revenue (+) platform fee
Revenue and subscription revenue (net of discounts, credits and refunds other than
free delivery) (+) restaurant & delivery partner onboarding fee
Defined as Revenue (+) actual customer delivery charges paid (net of any
discounts, including free delivery discounts on account of Zomato Gold
Adjusted Revenue
program) (+) platform fee paid in the food delivery business (that is not
already included in Revenue)
Defined as Adjusted Revenue (-) last mile delivery cost (-) platform funded
discounts (-) payment gateway charges (-) customer support and
Contribution appeasement cost (-) customer & restaurant partner refunds (-) delivery
partner recruitment and onboarding cost (-) cash on delivery handling
charges (-) other miscellaneous costs
Adjusted EBITDA Defined as EBITDA (+) share-based payment expense (-) rental paid for the
Monthly transacting Number of unique transacting customers identified by customers’ mobile
customers number that have placed at least one Order in India in that month
24
Monthly active delivery Unique delivery partners identified by their national identity proof who
partners successfully delivered at least one Order in India in that month
Monthly active food delivery Unique restaurant partners that received at least one Order in India in that
restaurant partners month
Quick commerce
Term Description
Orders Defined as all orders placed on the Blinkit marketplace platform in India,
including canceled orders
Gross order value (GOV) Total monetary value of Orders at maximum retail price (“MRP”) of goods
sold (except for instances where MRP is not applicable such as fruits and
vegetables in which case final selling price is used instead of MRP), gross
of any seller/ brand/ platform funded subsidies (excluding tips) (+) actual
customer delivery charges paid (net of any discounts) (+) other charges
such as handling fee, convenience fee, packaging fee (+) taxes
Average order value (AOV) GOV divided by number of Orders
Defined as Blinkit marketplace commission income (+) actual customer

Revenue delivery charges (net of any discounts) (+) ad revenue (+) warehousing and
ancillary services income
Adjusted Revenue Same as Revenue
Defined as Adjusted Revenue (-) store operations cost (including actual

rent paid prior to any accounting adjustment for Ind AS 116) (-) last mile
delivery costs (-) warehouses expenses (including actual rent paid prior to
any accounting adjustment for Ind AS 116) (-) middle mile transportation
Contribution
costs (-) customer acquisition subsidies (-) wastage losses (-) customer
refund cost (-) packaging cost (-) payment gateway charges (-) support cost
(-) delivery partner recruitment and onboarding cost (-) cash on delivery
handling (-) other miscellaneous costs
Adjusted EBITDA
Monthly transacting Defined as the number of unique transacting customers identified by the
customers customers' mobile number that have placed at least one Order in that month
Calculated as a simple average of total GOV transacted on a particular day

Average GOV per day, per store
divided by total number of stores operational for the day, for that period
Unless otherwise provided, refers to our mobile applications and website

Platform(s)
for all our quick commerce related service offerings and operations
25
Going-out
Term Description
Defined as total monetary value of transactions across our Dining-out and

Gross order value (GOV) Zomato Live platforms gross of discounts (+) convenience fee paid by the
customer (+) taxes (as applicable)
Defined as commission charged from restaurant partners on dining-out

bills paid through the Zomato app in India and UAE (+) subscription revenue
for Zomato Gold UAE for access to dining-out offers in UAE (+) ad revenue
(+) convenience fee collected from customers (+) take-rate earned from
third-party event organizers on sale of tickets through Zomato platform in
Revenue
India (+) ticket sale collections for events managed by Zomato (e.g.,
Zomaland) (+) sponsorship revenue relating to Zomato live events (+)
rentals and commission charged on sale of food & other products from
restaurants / merchants participating in Zomato managed live events (+)
other income
Adjusted EBITDA
Hyperpure
Term Description
Total monetary value of goods sold on the Hyperpure platform (net of any
Revenue returns/ discounts) (+) actual delivery charges paid (net of any discounts)
(+) other revenue
Adjusted EBITDA
26
Company Overview: ESG update | Statutory Reports | Financial Statements
ESG update
Over the years, we have supported several initiatives guided by our commitment to responsible and
sustainable business growth. We are glad to see a host of leading global ESG rating agencies recognise and
appreciate our sustainability commitments and initiatives.
ESG ratings and scores

Rated AA (Sustainability Leader) by
ESG score of 41 from S&P Global, 96th
MSCI in Jan-23 percentile of our global peer set in May-24
Member of the FTSE4Good Global

Rated Low Risk (score 16.9) by Sustainalytics
Index since Jun-23 in May-24
ESG highlights
Net Zero emission 100% plastic neutral EV100 initiative -

target across food deliveries since FY22 Pledge for 100% EV-
delivery value chain by 30,000 MT plastic waste based deliveries by
2033 recycled 2030
Daily Feeding Program First-responder Accident, health, loss

1.2+ lakh daily meals served training program of pay and maternity
to underserved children 19k delivery partners insurance for eligible
trained till Mar-24 delivery partners
27
Our sustainability themes and goals 2030
Climate Conscious Deliveries Waste-Free World

Facilitate 100% deliveries through electric Continue to facilitate 100% plastic neutral food
vehicles (EVs) as part of The Climate Group’s delivery orders through voluntary recycling
EV100 initiative leading to Net Zero emissions

Facilitate delivery of 100 million plastic-free
across the food ordering and delivery value
food orders by 2025
chain by 2033
Help restaurants reduce food waste
through training and collaborations
Zero Hunger Inclusive Growth

Support Feeding India in mobilizing resources Support growth of 300k+ micro, small and
to provide 300 million nutritious meals for medium restaurant businesses and food
underprivileged communities entrepreneurs
Enhance the earning and saving capacity of
1 million gig workers through upskilling,

partnerships and benefit programs
Diversity, Equity & Inclusion Health, Safety & Wellbeing for All
Achieve a minimum of 50% representation of Make substantive progress towards achieving
diverse groups - women, LGBTQIA+, persons zero on-road delivery partner fatalities
with disability (PwDs), veterans, and other

Bring health and safety knowledge and
historically disadvantaged groups in our
innovations to restaurant partners
employee base and Board
Customer Centricity Governance

Build food ordering and delivery solutions for Achieve and maintain high standards of corporate
the next billion customers seeking affordability, governance to protect the interests of all our
accessibility, assortment and quality stakeholders
Adopt leading data privacy standards and practices
Continue to drive robust ethics and compliance

practices
28
We made meaningful progress on our eight sustainability themes. The section below shares key highlights of
our progress on each of our sustainability themes. For more details, please refer to the Business
Responsibility and Sustainability Report on page 71 of this report.
1 Climate conscious deliveries
At the beginning of FY24, we set ourselves the goal of achieving Net Zero emissions across our food delivery
value chain by 2033. The table below highlights the progress we have made so far in FY24.
Carbon reduction target Actions and commitments
Maintain Scope 1 and We maintained 100% of our scope 1 & scope 2 emissions
i Scope 2 emissions at at zero through use of an equivalent amount of verified
carbon removal offsets and International Renewable
zero
Energy Certificates (IRECs)
Reduce last mile delivery Our last-mile delivery emissions on a per km basis reduced by
ii emissions by 70% on a 9.4% in FY24 compared to FY2
per km basis by FY30 This reduction was largely facilitated by the growing share of EV-
from a base year of FY22 
based deliveries  
This target is aligned with our

In FY24, ~8% of our food delivery orders were delivered using
EVs (4x YoY growth)
commitment to facilitate 100%
EV-based deliveries by 2030
In addition, our Hyperpure business has also been steadily ramping up the use of EVs for deliveries. In FY24,
~20% of Hyperpure orders were delivered via EVs.
2 Waste Free World
Our voluntary initiatives to address waste generated by food delivery orders are driven by the principle of
‘reduce, recycle and reward’. Initiatives launched prior to FY24 were indexed towards the ‘reduce’ and ‘recycle’
aspects of this principle whereas initiatives launched during FY24 focused more on the ‘reward’ aspect.
The table below highlights our key existing and new initiatives aimed at waste reduction and our progress on
these initiatives during FY24.
29
Initiatives and progress
‘Don’t send cutlery’ initiative

Starting Aug-21, ‘don’t send cutlery’ is set as the default option on the food
delivery app unless customers explicitly opt-in for cutler
Reduce In FY24, this initiative led to a 75% reduction in Orders with cutlery, thereby
preventing ~933 MT of cutlery waste
100% Plastic neutral deliveries

Starting Apr-22, Zomato committed to voluntarily recycle more than 100%
of all plastic utilized in the packaging of food delivery Orders
So far, we have recycled 30,000 MT of plastic waste equivalent to 1.5x1 the
Recycle estimated amount of plastic used by our restaurant partners for Orders
placed on our platform. Of the 30,000 MT, ~10,000 MT was recycled in FY24
Plastic-free Order’ (PFO) initiative

Starting Sep-23, select restaurants using plastic-free packaging for orders
delivered through our platform were highlighted with a PFO banner on our ap
During the pilot, 5.4 million orders were delivered from PFO restaurants and we
Plastic-free
aim to facilitate delivery of 100 million PFO orders by Dec-25
Reward Plastic-free Orders Packathon
(New initiatives) Launched the inaugural edition of Zomato’s ‘Plastic-Free Orders Packathon’ to
promote startups working on sustainable packaging solutions for food deliver
The event saw participation from 85 start-ups across 18 states. 10 shortlisted
startups went to advanced stages of the event
In terms of Environmental Management Systems for own operations, Zomato Limited received ISO
14001:2018 certification for its Gurugram and Bengaluru corporate offices in FY24.
3 Zero Hunger
Feeding India (FI), a Zomato giveback, continued its efforts towards creating a malnutrition free India. During
FY24, FI partnered with the government to design systemic interventions to reduce hunger among
underserved communities in India. As part of these interventions, FI expanded the scale of its existing
initiatives and piloted new ones. Key highlights include
Daily Feeding Program (DFP): FI operates one of India’s largest non-government feeding programs in
schools serving 1.2+ lakh daily meals to children studying in low-income affordable schools. DFP helps
underserved children get access to the right nutrition during formative years which is critical for their
holistic development. In FY24, FI served 1.3+ crore meals across 500+ schools and educational center
Partnering with the Government: Worked with the government to help improve food security for 25,000+
undernourished children across 4 districts – Varanasi, Gurugram, Etah and Kushinagar leading to
improvement in school attendance within these Anganwadi areas
Note
As per an independent external assessment
30
4 Inclusive growth
We continuously look for ways to positively impact the lives of our delivery partners and sustainability of our
restaurant partners in our food delivery business. We help reduce entry barriers for small entrepreneurs by
providing logistics, tech and call center support enabling restaurants to offer a seamless customer
experience for online food ordering and delivery. We also help generate earning opportunities for our delivery
partners who typically comprise of independent gig economy workers.
In FY24, we committed to two new goals to further empower small businesses and gig workers:
1 Support the growth of 300k+ micro, small 2 Enhance the earning and saving capacity of 1
and medium restaurant businesses and million gig workers through upskilling,
food entrepreneurs by 2030 partnerships and benefit programs by 2030
In our quick commerce business, we created earning opportunities not just for
67k monthly active delivery partners, but also for 20,000+ workers including
600+ women workers across our warehousing and store supply chain. We
continue to generate earning opportunities for local entrepreneurs and small
retailers that manage store operations for us in multiple locations. We also work
with local manufacturers and emerging consumer brands to expand their
footprint across multiple regions in India.
5 Diversity, Equity and Inclusion
As part of our commitment to provide equal opportunities to everyone across

our value chain, we announced a goal to achieve a minimum of 50% aggregate
representation of diverse groups - women, LGBTQIA+, persons with disability
(PwDs), veterans, and other historically disadvantaged groups in our
employee base and Board of Directors by 2030. We have made some early
progress towards this goal. Women representation in our workforce improved
largely driven by a 9% decline in female attrition and 10% increase in retention
rate for returning mothers. We also received the Economic Times Award for
‘Best Organizations for Women’ in FY24.
Our efforts to promote diversity and equity is not limited to our employees only but also extends to
stakeholders across our value chain. Some of our FY24 initiatives include
We achieved our target of onboarding 300 persons with disability (PwD) as delivery partners by Dec-23;
we onboarded a total of 419 PwD delivery partners in FY24
Launched maternity benefit plan for eligible women delivery partners, providing monetary cover and
assistance throughout pregnancy and childbirt
We have set a target of achieving 20% women representation across our warehouse off-roll workforce by
Dec-24. We had 9% representation as of Mar-24
31
6 Health, safety and wellbeing for all
We made significant progress towards on-road safety of our delivery

partners. We launched a unique ‘first-responder training program’ in FY24,
where delivery partners are trained in medical first aid & CPR
(Cardiopulmonary Resuscitation) through professional and certified
training programs. This program has garnered enthusiastic participation
from delivery partners on our platform. Delivery partners are voluntarily
enrolling in this program, recognizing the importance of timely first aid
interventions that can potentially save lives of all road users. As at Mar-24,
~19k delivery partners have been trained as emergency first responders.
Additionally, we have been building a proprietary network of 600+ on-

ground weather stations that provides precise and real-time data on key
weather parameters such as temperature, wind speed, rainfall, etc. This
network was created by us to help us make informed business decisions
and better serve our customers and delivery partners under various
climatic conditions. Given the significant potential impact of this data
across multiple weather-related use cases for enterprises and research
institutes, as a Zomato giveback, we have made this data freely accessible
to anyone who wishes to leverage it through an API available on
weatherunion.com.
We also expanded the coverage for some of the initiatives launched in the past -
The Shelter Project - Launched in FY23, The Shelter Project provides all gig workers access to rest
points where they can take a break during deliveries and get access to basic amenities. During FY24,
we scaled the geographic presence of this initiative. As of Mar-24, Zomato operated a network of
373 rest points across the country
Emergency Ambulance Response - During FY24, we helped 1,358 delivery partners get access to
medical help in case of on-road emergencies. By Mar-24, average response time of our emergency
ambulance network had improved to <15 minutes
Insurance benefits for delivery partners - Insurance with accident cover up to INR 10 lakhs, health
cover up to INR 1 lakh, loss of pay coverage and maternity insurance up to INR 40k
As part of our delivery partner welfare initiatives, we also started to facilitate scholarships for children of
eligible delivery partners through funds raised from independent donors. As at the end of Mar-24, 150 K-12
scholarships and 100 test preparation scholarships had been given to children of delivery partners through a
merit-based open assessment from donations raised.
32
7 Customer centricity
We launched several customer-centric innovations in FY24 to improve the accessibility, affordability,

assortment and quality of food towards our goal of serving the next billion consumers across food ordering,
delivery and dining-out.   
Our major service innovations include Zomato Everyday, Zomato Legends, Large order fleet, Food on Train
and the Healthy section (described in detail earlier in this report). Additionally, we strengthened our
operations in 700+ cities bringing the food delivery experience to millions beyond Tier 1 cities, launched
Zomato AI to enable faster discovery of options and scaled up our systems to be able to handle 8.4K orders
per minute to meet the record surge in orders on New Year’s Eve 2024. Our behind-the-scenes
improvements to customer experience include building proprietary geo-location technology that has
resulted in a significant decrease in drop location errors. Automation of customer service has also reduced
the in-app query resolution time significantly. These improvements in the quality of customer experience are
core building blocks for our future growth.
8 Governance
Our governance goal is to maintain high standards of corporate governance to protect the interests of all our
stakeholders. As a technology platform, a key area of focus for us is cybersecurity and data privacy. In the last
fiscal year, we secured ISO 27001 certification for our Information Security Management Systems. In FY24,
our focus has been on preparing our systems for compliance with the Digital Protection and Data Privacy Act
2023. We also strengthened our internal employee training systems to support our compliance programs. For
more details on our corporate governance initiatives refer to our Corporate Governance Report on Pages
128-153 of this Annual Report.
33
Company Overview: Corporate information | Statutory Reports | Financial Statements
Corporate information
Board of Directors
Mr. Kaushik Dutta Mr. Deepinder Goyal Mr. Sanjeev
Founder - TARI,
Founder,
Bikhchandani
ex - PwC India MD & CEO - Zomato Founder -
Info Edge
h
C airman, Independent Director Executive Director Non Executive Director
Ms. Sutapa Banerjee Ms. Namita Gupta Ms. Gunjan
ex- CEO Ambit Founder - Air eda,

v   Tilakraj Soni
Capital, ABN Amro ex - Fa ebook,

c CEO - Zalora roup,
G
Mi rosoft, Zomato
c ex - Myntra,
M insey & Co
cK .
Independent Director Independent Director Independent Director
Ms. Aparna
Popat Ved
Professional
Badminton Player,
ex - Olympian
Independent Director
Chief Financial Officer

Company Secretary and Compliance Officer
Mr. Akshant Goyal Ms. Sandhya Sethia

Statutory Auditors:
Secretarial Auditors:
M/s. Deloitte Haskins & Sells, M/s. Chandrasekaran Associates, Practicing Company
Chartered Accountants Secretaries
Bankers
Registrar and Share Transfer Agent:
Axis Bank Limited

Link Intime India Private Limited
Citibank NA
C-101, 1st Floor, 247 Park, L.B.S. Marg,
HDFC Bank Limited
Vikhroli (West), Mumbai 400 083
HSBC Limited
Tel.: +91 22 4918 6200
ICICI Bank Limited

Email: delhi@linkintime.co.in
Kotak Mahindra Bank Limited

Website: www.linkintime.co.in
State Bank of India
Registered Name:
Registered Office:
Corporate Office:
Zomato Limited
Ground Floor 12A, 94 Meghdoot,
Pioneer Square Building,
CIN: L93030DL2010PLC198141
Nehru Place, New Delhi - 110019
Sector 62, Golf Course Extension
E-mail: companysecretary@zomato.com Tel: +9111 4059 2373 Road, Gurugram, Haryana, 122098
Website: www.zomato.com Tel: +91124 426 8565
34
Company Overview | Statutory Reports: MD&A | Financial Statements
Management discussion and analysis
Consolidated audited profit and loss account

INR crore
Particulars FY24 FY23
A. Income
Revenue from operations 12,114 7,079
Other income 847 682
Total income 12,961 7,761
B. Expenses
Cost of goods sold 2,882 1,395
Employee benefits expense 1,659 1,465
Finance costs 72 49
Depreciation and amortisation expenses 526 437
Other expenses 7,531 5,429
Total expenses 12,670 8,775
Loss before share of profit / (loss) of an associate, exceptional items and tax 291 -1,014
Share of profit / (loss) of an associate and joint venture 0 -1
Exceptional items 0 0
Profit / (loss) before tax 291 -1,015
Tax expense -60 -44
Profit / (loss) for the year 351 -971
35
A. Income
Consolidated revenue from operations increased 71% YoY to INR 12,114 crore in FY24. Revenue growth was
driven by growth across all four of our key businesses (food delivery, quick commerce, Going-out and B2B
supplies).
a) Food delivery revenue from operations grew 40% YoY to INR 6,361 crore in FY24 from INR 4,533 crore in
FY23, driven by a 23% YoY increase in GOV and expansion in commission take rate. Starting Q2FY24, we
introduced a platform fee which contributed towards take-rate expansion. Ad income grew faster than
GOV driven by (i) increase in ad inventory on our platform and, (ii) increase in average ad spends per
advertiser.
(Note: Food delivery revenue as per the financial statements is different from the food delivery Adjusted
Revenue that we have presented on page 2 and page 13 as that also includes the customer delivery charges
that we collect on behalf of delivery partners from customers and platform pee paid by the customers in the
food delivery business (that is not already included in revenue). Adjusted Revenue is a metric tracked by the
management to analyse the business performance. Refer page 39 for the reconciliation between
consolidated Adjusted Revenue and revenue from operations.)  
b) Hyperpure revenue more than doubled to INR 3,172 crore (111% YoY growth) in FY24, driven by growth in
both the core restaurant supplies business and the newer quick commerce opportunity that we started
tapping into in FY23. On the core restaurant side, growth was driven by increase in unique restaurants
served by Hyperpure and growth in revenue per restaurant.
c) Quick commerce revenue is not comparable between FY23 and FY24 as consolidation of Blinkit
financials in FY23 is from 10-Aug-22 onwards (transaction closing date). Based on the proforma numbers
for FY23 presented on page 17 of this annual report, quick commerce Revenue grew 116% YoY from INR
1,063 crore in FY23 to INR 2,301 crore in FY24 largely driven by the 93% YoY growth in GOV.
Overall take-rate also increased to 18.5% in FY24 from 16.5% in FY23 driven by all three revenue levers -
higher commissions, better ad monetization and higher customer delivery charges.
d) Going-out business grew 51% YoY to INR 258 crore from INR 171 crore in FY23, largely driven by growth in
the India dining-out business. Our events and ticketing business is still nascent with a large untapped
opportunity ahead.
For reference, we started reporting ‘Going-out’ as a separate business segment in our financials from
Q2FY24 onwards. Going-out includes our dining-out business (India + UAE) and our nascent ticketing
business. We have provided like-to-like prior period numbers for comparison.
Other income increased by INR 165 crore to INR 847 crore in FY24 primarily due to increase in treasury
income. This growth was driven by increase in investable cash balance and increase in overall yields as we
indexed a higher share of our investments towards debentures and bonds as compared to bank deposits.
36
B. Expenses
Cost of goods sold (COGS) increased by INR 1,487 crore (107% YoY) to INR 2,882 crore in FY24.
COGS primarily relates to the Hyperpure business and grew in line with Hyperpure Revenue growth.
Hyperpure gross margin improved YoY largely due to better sourcing and growing mix of high margin
categories. In the core restaurant supply business, we increased the minimum order value threshold below
which restaurants are not allowed to place orders. This led to churn of smaller unprofitable customers and
increase in average order value which resulted in better profitability.
Employee benefits expenses increased by INR 194 crore (13% YoY), to INR 1,659 crore in FY24. This primarily
includes salaries, wages, bonuses and share-based compensation paid to our on-roll employees across all
our businesses. Growth was largely driven by increase in salaries and wages due to increments and increase
in overall headcount which grew 34% to 8,244 in FY24 from 6,173 in FY23. Share-based payment expense
remained similar YoY at INR 516 crore in FY24 vis-à-vis INR 505 crore in FY23.
Finance Costs increased 47% YoY to INR 72 crore in FY24. This primarily includes interest on lease liabilities
recorded under Ind AS 116 which increased YoY as Blinkit store network scaled to 526 stores by Mar-24 from
377 stores in Mar-23.
Depreciation and amortization expense increased by INR 89 crore (20% YoY) to INR 526 crore in FY24. This
includes (i) depreciation on fixed assets, (ii) depreciation as recorded under Ind AS 116 and (iii) amortization of
intangible assets. Increase in expense was largely driven by an increase in depreciation charge recorded
under Ind AS 116 as Blinkit store network scaled. Amortization expense declined YoY as certain Blinkit
intangibles with 1 year useful life expired in FY23 and had nil corresponding charge in FY24.
Other expenses INR crore
Particulars FY24 FY23
Delivery and related charges

3,915
2,537
Advertisement and sales promotion

1,432
1,227
IT support services, server and communication cost

485
387
Outsourced support cost

330
297
Payment gateway charges

190
155
Others
1,179
826
Total 7,531 5,429
Note: Comprises of (i) availability fees paid by Zomato to the delivery partner over and above the customer delivery charge collected on
behalf of delivery partners in the food delivery business and (ii) delivery partner payouts in the quick commerce business.
37
Delivery and related charges increased 54% YoY in FY24 to INR 3,915 crore. This primarily includes payouts1
to delivery partners for last mile deliveries across our food delivery and quick commerce operations. It also
includes the delivery partner support cost and cost of consumables issued to delivery partners at the time of
onboarding.
Increase in delivery and related charges was due to (i) increase in food delivery availability fee paid to delivery
partners as a result of increase in order volumes and increase in average availability fee per order (due to rise
in proportion of free delivery orders on account of growing adoption of our Gold program) and (ii) increase in
quick commerce delivery related costs which grew in line with order volume growth. Delivery partner support
cost and cost of consumables also increased YoY due to increase in overall order volumes and delivery
partners on the platform. Part of the YoY increase in delivery and related charges is attributable to the
consolidation of Blinkit financials for the full year in FY24 as compared to FY23 where the consolidation of
Blinkit financials is from 10-Aug-22 onwards (transaction closing date).
Advertisement and sales promotion expenses increased 17% YoY to INR 1,432 crore in FY24. This includes
platform funded subsidies (to the extent not netted off from revenue), marketing & branding costs, customer
appeasement costs and refunds across our business operations. Growth was largely driven by increase in
marketing and branding expenses across food delivery and quick commerce operations as business volumes
scaled. Customer appeasement cost (including platform funded subsidies) grew YoY to incentivize and retain
customers. Merchant and customer refunds decreased YoY driven by better service levels. Part of the YoY
increase in advertising and sales promotion expense is attributable to the consolidation of Blinkit financials
for the full year in FY24 as compared to FY23 where the consolidation of Blinkit financials is from 10-Aug-22
IT support services, server and communication costs increased 25% YoY to INR 485 crore in FY24. This
primarily includes software subscription cost, server hire charges and communication costs incurred for our
consolidated operations. Growth was primarily due to increase in volume of transactions across our
platforms. Part of the YoY increase in this expense line is attributable to the consolidation of Blinkit
financials for the full year in FY24 as compared to FY23 where the consolidation of Blinkit financials is from
10-Aug-22 onwards (transaction closing date).
Outsourced support cost increased 11% YoY to INR 330 crore in FY24. This primarily includes cost largely
related to (i) store related off-roll manpower costs in our quick commerce operations and (ii) call center
support across our food delivery and quick commerce operations. These costs increased as our off-roll
manpower costs increased with our store footprint expansion in the quick commerce business. Part of the
YoY increase in this expense line is attributable to the consolidation of Blinkit financials for the full year in
FY24 as compared to FY23 where the consolidation of Blinkit financials is from 10-Aug-22 onwards
(transaction closing date).
Payment gateway charges increased 23% YoY to INR 190 crore in FY24 driven by increase in GOV transacted
across our platforms.
Others expense increased 43% YoY to INR 1,179 crore in FY24. This primarily includes quick commerce
warehouse management & associated logistics cost, rental expenses, legal & professional fee, general &
admin expenses, insurance cost amongst others. Growth was largely driven by increase in warehouse
management & associated logistics cost and rental expenses as quick commerce operations scaled across
new and existing cities. Other expenses such as legal & professional fee, G&A expenses, etc. also grew YoY.
Part of the YoY increase in this expense line is attributable to the consolidation of Blinkit financials for the
full year in FY24 as compared to FY23 where the consolidation of Blinkit financials is from 10-Aug-22
Note:
Comprises of (i) availability fees paid by Zomato to the delivery partner over and above the customer delivery charge collected on
behalf of delivery partners in the food delivery business and (ii) delivery partner payouts in the quick commerce business.
38
Additional notes: Adjusted Revenue and Adjusted EBITDA reconciliation
INR crore
Adjusted Revenue FY24 FY23
Revenue from operations 12,114 7,079
Add: Customer delivery charges 1,348 1,614
Add: Platform pee paid in the food delivery business (that is not already
83 -
included in revenue)
Adjusted Revenue 13,545 8,693
Adjusted EBITDA FY24 FY23
Adjusted EBITDA 372 -783
Add: Other income 847 682
Add: Rental paid pertaining to ‘Ind AS 116 leases’ 185 78
Less: Depreciation & amortization expense 526 437
Less: Finance cost 72 49
Less: ESOP expense 515 506
Less: Tax Expense -60 -44
Profit / (loss) for the period 351 -9 7 1
Note: Up until Q1FY23, Adjusted EBITDA did not include the rental expenses on certain leases that are required to be
capitalised as per Indian Accounting Standard 116 (Ind AS 116). From Q2FY23 onwards, we have included the actual rent
paid for the period under such leases in the Adjusted EBITDA computation to reflect our cash profit / loss more
appropriately.
39
Our quarterly shareholders’ letter and results in FY24
Q1FY24
Q3FY24
40
Company Overview Statutory Reports: Board Report Financial Statements
Board Report
Dear Members,
The Board of Directors of the Company (“Board”) hereby submits the board report for the financial year
ended on March 31, 2024 (“Board Report”) on the business, operations and performance of Zomato Limited
(“the Company”/ “Zomato”) along with audited financial statements of the Company. The consolidated
performance of the Company and its subsidiaries has been referred to wherever required.
1. Financial highlights
The highlights on the Company’s financial statements on a standalone and consolidated basis are
summarised below:
(INR crore)
Particulars Standalone Consolidated
For the financial year ended on March 31
2024 2023 2024 2023
Total income 7,542 5,507 12,961 7,761

Less: Total expenses 6,131 5,390 12,670 8,775
Less: Exceptional items 39 - - (0)
Add: Share of profit of an associate and joint venture - - - (1)
Profit/(loss) before tax 1,372 117 291 (1,015)
Less: Tax expenses 1 0 (60) (44)
Profit / (loss) for the year 1,371 117 351 (971)
Other comprehensive income/(loss):
1) Items that will not be reclassified to profit or (loss) in
subsequent periods:
a. Remeasurements of the defined benefit plans (3) 2 3 4
b. Equity instruments through other comprehensive income 60 (111) 60 (111)
2) Items that will be reclassified to profit or (loss) in subsequent
periods
a. Exchange differences on translation of foreign operations 1 8 0 8
b. Debt instruments through other comprehensive income (8) 0 (8) 0
Total comprehensive income /(loss) for the year 1,421 16 406 (1,070)
2. State of the Company’s affairs / overview 1. Food delivery: technology platform that provides
customers with a convenient, on-demand solution
Company overview
to search and discover restaurants, order food, and
Zomato Limited is one of the first home-grown new-
have it delivered reliably and quickly. In FY 2023-24,
age tech companies listed in India, with a mission to
6.3 crore unique customers across 800+ cities pan-
power India’s changing lifestyles. We operate through
India leveraged our platform to order food from 2.5
four key business segments:
lakh average monthly active food delivery restaurant
41
partners which were delivered by a network of 4 lakh in throughput of existing stores and geographical
average monthly active delivery partners. expansion across new and existing cities. FY24
was the first full year of consolidation of Blinkit
2. Quick commerce: online marketplace offering financials as compared to FY23 where consolidation
quick delivery (in <15 minutes) of products across of Blinkit financials is from August 10, 2022 onwards
categories (fresh, staples, electronics, beauty, (transaction closing date)
general merchandise, festive needs ++). Orders
placed by customers on the Blinkit app are fulfilled 3. Going-out revenue grew 51% YoY in FY24 largely
through a network of dark stores located close to the driven by growth in the India dining-out business
customer and delivered by a network of independent
delivery partners. 4. B2B supplies revenue grew 111% YoY driven by
growth in the core restaurant business as well as the
3. Going-out: Going-out is a combination of our newer quick commerce opportunity
dining-out business (in India and UAE) and our
nascent ticketing business - Zomato Live. Going-out Consolidated business turned Adjusted EBITDA, EBITDA
enables discovery and transactions for dining-out and PAT profitable for the full fiscal year. Consolidated
and ticketing. Adjusted EBITDA improved to INR 372 crore in FY24
from a loss of INR 783 crore in FY23. Improvement in
4. B2B Supplies (Hyperpure): B2B supplies business
Adjusted EBITDA profitability was primarily driven
supplying quality food ingredients and other products
by (a) improvement in food delivery Adjusted EBITDA
to restaurants and other B2B buyers.
margin and (b) significant reduction in losses in our
Financial results quick commerce business (which also turned Adjusted
Consolidated revenue from operations grew 71% YoY EBITDA positive in the month of Mar-24). Consolidated
to INR 12,114 crore in FY24 from INR 7,079 crore in EBITDA for the full fiscal was positive INR 42 crore.
FY23 driven by robust growth across all four of our
The Company also turned PAT profitable, on a
key business segments:
consolidated basis, for the first time ever in FY24
1. Food delivery revenue grew 40% YoY to INR 6,361 reporting a consolidated PAT of INR 351 crore compared
crore in FY24 and contributed 53% of consolidated to a loss of INR 971 crore in FY23.
reported revenue
The table below shows a quick summary of the Company
2. Quick commerce more than doubled its revenue operations in FY24 on a consolidated and standalone
on a YoY basis in FY24 primarily driven by increase basis as per Ind AS and applicable regulations.
(INR crore)
Particulars Consolidated Standalone
For the financial year ended on March 31
2023 2024 2023 2024

Revenue from operations 7,079 12,114 4,707 6,622
Total income 7,761 12,961 5,507 7,542
Profit / (loss) before exceptional items and tax -1,015 291 117 1,411
Profit after tax -971 351 117 1,371
Note: To supplement our financial information presented in accordance with IND AS, we consider certain financial measures that
are not prepared in accordance with IND AS, including Adjusted Revenue and Adjusted EBITDA. We use these financial measures in
conjunction with IND AS measures as part of our overall assessment of our performance to evaluate the effectiveness of our business
42
strategies and to communicate with our board of directors concerning our business and financial performance. We believe these non-
GAAP financial measures provide useful information to investors about our business and financial performance, enhance their overall
understanding of our past performance and future prospects, and allow for greater transparency with respect to metrics used by our
management in their financial and operational decision making. We are presenting these non-GAAP financial measures to assist our
investors and because we believe that these non-GAAP financial measures provide an additional tool for investors to use in comparing
results of operations of our business over multiple periods. Information given also includes information related to material subsidiaries.
Non-GAAP measures used by us are defined below:
1) Adjusted Revenue = Consolidated revenue from operations as per financials (+) actual customer delivery charges in the food delivery
business (net of any discounts, including free delivery discounts on account of Zomato Gold program) (+) platform fee paid in the food
delivery business (that is not already included in reported revenue from operations)
2) Adjusted EBITDA = Consolidated EBITDA (+) share-based payment expense (-) rental paid for the period pertaining to ‘Ind AS 116 leases’
3) EBITDA = Profit/loss as per financials excluding (i) tax expense (ii) other income (iii) depreciation and amortization expense (iv) finance
cost and (v) exceptional items
3. Subsidiary(ies) and associate company(ies) In accordance with Section 136 of the Act, the audited
During the financial year under review, the following financial statements, including the consolidated
entities were liquidated/closed: financial statements and related information of the
Company and accounts of its subsidiaries can be
1. Z
omato Australia Pty Limited, step down subsidiary
located in Australia w.e.f. June 11, 2023; accessed at https://www.zomato.com/investor-
relations/financials.
2. Z
omato NZ Media Private Limited, direct subsidiary
located in New Zealand w.e.f. June 22, 2023; 4. Change in nature of business
3. Z
omato Media Portugal, Unipessoal Lda, direct During the financial year under review, there has been
subsidiary located in Portugal w.e.f. July 27, 2023; no change in the nature of business of the Company.
4. Z
omato Chile SpA, direct subsidiary located in Chile
5. Dividend
w.e.f. September 29, 2023;
During the financial year under review, the Board
5. Z
omato Vietnam Company Limited, step down
subsidiary located in Vietnam w.e.f. February 02, has not recommended any dividend. The dividend
2024; distribution policy of the Company can be accessed
at https://b.zmtcdn.com/investor-relations/0e4c2a2
6. Lunchtime.cz s.r.o., step down subsidiary located
in Czech Republic w.e.f. February 06, 2024; and 14b341cff8c0afde09f161815_1685079747.pdf.
7. P
T. Zomato Media Indonesia, direct subsidiary 6. Amount proposed to be transferred to
located in Indonesia w.e.f. March 21, 2024.
reserves
Further, the Company has sold its entire voting rights The Company has not proposed to transfer any
(constituting 30%) in ZMT Europe LDA, associate
amount to the reserves during the financial year
company w.e.f. November 3, 2023.
under review.
As on March 31, 2024, the Company has 12 (twelve)
direct subsidiaries and 9 (nine) step down subsidiaries. 7. Transfer to investor education and
In accordance with the Companies Act, 2013 read protection fund
with rules framed thereunder (“Act”), a statement During the financial year under review, the Company
containing the salient features of the financial
was not required to transfer any funds and equity
statements of the subsidiaries and associate
company of the Company in form AOC-1 is annexed shares to the investor education and protection fund
as Annexure-I. as per the provisions of Section 125 of the Act.
43
8. Capital structure authorised preference share capital and reallocating

the same to authorised equity share capital.
i. Authorised share capital
uring the financial year under review, the
D ii. Issued, subscribed and paid up share capital
shareholders of the Company in 13th Annual General The issued, subscribed and paid up share capital of the
Meeting (“AGM”) held on August 30, 2023, approved
Company as on March 31, 2024 is INR 8,81,97,83,744 /-
the re-classification of the authorised share capital
(Indian rupees eight hundred eighty one crore ninety
of the Company to INR 14,48,63,29,341/- (Indian
rupees one thousand four hundred forty eight crore seven lakh eighty three thousand seven hundred and
sixty three lakh twenty nine thousand three hundred forty four only), divided into 8,81,97,83,744 (Eight
and forty one only) consisting of 14,48,63,29,341 (One hundred eighty one crore ninety seven lakh eighty
thousand four hundred forty eight crore sixty three three thousand seven hundred and forty four) equity
lakh twenty nine thousand three hundred and forty shares having face value of INR 1/- (Indian rupee one)
one) equity shares, by way of cancelling the unissued each (“Equity Shares”).
Details of allotment of Equity Shares allotted by the Company are given below:
Sr. Date of allotment Brief details No. of Equity

No. of Equity Shares Shares
1 April 25, 2023 Allotment against exercise of options granted under Zomato 78,72,5001
Employee Stock Option Plan 2018 (“ESOP 2018”)
2. April 25, 2023 Allotment against exercise of options granted under Zomato 1,78,04,766
3. July 31, 2023 Allotment against exercise of options granted under ESOP 2018 48,03,9001
4. July 31, 2023 Allotment against exercise of options granted under ESOP 2021 2,04,55,279
5. November 3, 2023 Allotment against exercise of options granted under ESOP 2018 30,95,4001
6. November 3, 2023 Allotment against exercise of options granted under ESOP 2021 10,02,78,384
7. November 3, 2023 Allotment against exercise of options granted under Zomato 30,95,664
8. February 8, 2024 Allotment against exercise of options granted under ESOP 2018 1,67,36,6001
9. February 8, 2024 Allotment against exercise of options granted under ESOP 2021 9,01,40,771
10. February 8, 2024 Allotment against exercise of options granted under ESOP 2022 19,90,710
Total 26,62,73,974
1 Equity Shares allotted against exercise of ESOPs under ESOP 2018 also includes Equity Shares allotted to the allottees/employees in
the ratio of 6699:1, pursuant to the corporate action adjustment made under aforesaid scheme.
iii. Equity shares with differential rights and suspended on the Stock Exchanges during the
sweat equity shares financial year under review.
During the financial year under review, the Company
has neither issued sweat equity shares nor issued
9. Directors and Key Managerial Personnel
Equity Shares with differential rights as to dividend, (“KMP”)
voting or otherwise. i. Appointment/ re-appointment or resignation
of director(s)
iv. Listing on stock exchanges During the financial year under review, Sanjeev
The Equity Shares are listed on BSE Limited (“BSE”) Bikhchandani (DIN: 00065640), Non-Executive
and National Stock Exchange of India Limited (“NSE”) Nominee Director, liable to retire by rotation was
(collectively referred to as (“Stock Exchanges”)). re-appointed by the shareholders in the 13th AGM held
Further, trading in the Equity Shares was not on August 30, 2023.
44
In accordance with the provisions of Section 152 of the nomination, evaluation, and remuneration of
the Act and articles of association of the Company, directors and senior management personnel of the
Sanjeev Bikhchandani (DIN: 00065640) is liable to Company. The primary objective of the NRC Policy is
retire by rotation at the ensuing AGM and being to attract, recruit, retain, and incentivize the most
eligible, offers himself for re-appointment. The qualified and skilled individuals available in the talent
Board recommends the re-appointment of Sanjeev pool who can contribute to the long-term success
Bikhchandani (DIN: 00065640) as Non-Executive of the Company. It also aims to ensure the Board is
Nominee Director for shareholders’ approval at the diversified and has an appropriate mix of executive,
ensuing AGM. non-executive and independent directors with
diverse backgrounds to maintain the independence of
Further, no director has resigned from the Board of the Board and to separate its functions of governance
the Company during the financial year under review. and management.
ii. Appointment or resignation of KMP During the financial year under review, the NRC
During the financial year under review, there were no Policy remained unchanged. The NRC Policy can be
changes in the KMP(s). accessed at https://b.zmtcdn.com/data/file_assets/
d334ce29b2ed635dbd531d5c92fda1221625837674.
iii. Declarations from independent director(s) pdf.
As on March 31, 2024, independent directors have
confirmed that: Details of the Board and committees’ composition,
tenure of directors, areas of expertise and other
• t hey meet the criteria of independence laid down
relevant information have been disclosed in the
under the Act and the Securities and Exchange
corporate governance report forming part of this
Board of India (Listing Obligations and Disclosure
Annual Report.
Requirements) Regulations, 2015 (“SEBI Listing
Regulations”); We affirm that the remuneration paid to the directors
is as per the terms laid out in the NRC Policy of the
• t hey have complied with the code for independent
Company.
directors prescribed under Schedule IV to
the Act;
10. Number of meetings of Board
• t hey have registered themselves with the During the financial year under review, the Board
independent director’s databank maintained by the met 6 (six) times. The maximum interval between
Indian Institute of Corporate Affairs; and any two meetings of the Board did not exceed 120
days. Details of the meetings of the Board along with
• t hey are not aware of any circumstance or the attendance of the directors therein have been
situation, which exists or may be reasonably disclosed in the corporate governance report forming
anticipated, that could impair or impact their part of this Annual Report.
ability to discharge their duties with an objective
independent judgment and without any external 11. Board evaluation
influence. In line with the requirements of the Act and SEBI Listing
Regulations, nomination and remuneration committee
iv. Company’s policy on directors’ appointment
(“NRC”) and the Board have defined a process and
and remuneration including criteria for identified the criteria which includes the Board
determining qualifications, positive composition and structure, effectiveness of Board
attributes, independence of a director and processes, information and functioning, contribution
other matters of the individual director to the Board and committee
The nomination and remuneration policy meetings etc., for performance evaluation of the
(“NRC Policy”) has been formulated in compliance Board, committee, chairman and individual Board
with Section 178 of the Act and Regulation 19 of the members including independent directors, through
SEBI Listing Regulations to set out a framework for policy for evaluation of the performance of the Board.
45
The Company engaged Nasdaq Governance Solutions, 14. Vigil mechanism and whistle blower
a global leader in Board evaluations for review of the policy
performance of the chairman, other non-independent
The Company is committed to conducting its business
directors, Board and committees by the directors for
affairs with fairness and transparency, adhering to
the financial year 2023-24. The process involved a
the highest standards of integrity, professionalism
questionnaire-based approach followed by independent
and ethical behavior. In line with this commitment,
one-on-one discussions with non-executive directors the Company has formulated a Vigil Mechanism and
by the Nasdaq. Whistle-Blower Policy (“Policy”) in accordance with
the provisions of the Act and Regulation 22 of SEBI
This comprehensive review delved into the nuanced
Listing Regulations. This Policy aims to provide a
dynamics of the Board, scrutinising aspects such
platform and mechanism for employees, directors
as Board composition, strategic participation,
and other stakeholders to report unethical behavior,
quality of discourse, leadership efficacy, and overall
fraud or violations of the Company’s Code of Conduct,
organisational vitality.
ethics and principles without fear of retaliation. It
The outcome of the overall evaluation was shared by also ensures direct access to the Chairperson of the
Audit Committee.
Nasdaq to the Chair of NRC and further the same was
shared with the NRC and the Board of the Company. Reported concerns are thoroughly investigated by
an independent fraud prevention committee and are
12. Committees of the Board
reported to the Audit Committee on a quarterly basis.
As on March 31, 2024, the Board has 6 (six) The Company affirms that, in compliance with the
committees: Audit Committee, Nomination and Policy, no personnel have been denied access to the
Remuneration Committee, Risk Management Chairperson of the Audit Committee.
Committee, Stakeholders’ Relationship Committee,
Corporate Social Responsibility Committee and The Policy can be accessed at https://b.
Investment Committee. zmtcdn.com/investor-relations/
d0ee8ccbb36c72f7abd0380cea49c933_1716475054.
Further, during the financial year under review, pdf.
the Initial Public Offer (IPO) Committee was dissolved
w.e.f. May 19, 2023. During the financial year under review, 73 complaints
were reported, all of which were resolved in a timely
A detailed note on the composition of the committees manner. These complaints included issues such as
and other mandatory details is provided in the suspicious reimbursements by employees, misuse of
corporate governance report forming part of this access rights, and other violations of the Company’s
Annual Report. Code of Conduct. Appropriate actions, such as
suspension, warning, or termination of employment,
13. Corporate Social Responsibility (“CSR”) were taken in accordance with the Policy.
policy
The CSR policy outlines the Company’s philosophy, 15. Risk management
responsibility and lays down the guidelines and i. Risk management policy:
mechanism for undertaking socially impactful At an organization level, we believe that our success
programs towards welfare and sustainable depends on our ability to identify and leverage
development of the community around the area of opportunities while managing risks effectively.
its operations. The brief outline of the CSR policy of Risk management has been an integral part of our
the Company along with other mandatory details is Company’s strategy and a key pillar in achieving our
annexed in Annexure – II. long-term goals.
46
A Risk Management Committee (“RMC”) has been set significantly impact the overall perception of the
up by the Board to design, implement, and monitor brand, potentially leading to legal disputes and
the Company’s risk management strategies. The significant rebranding costs.
RMC ensures these procedures are effective,
continuously monitored, and reviewed. Additionally, Zomato has comprehensive branding guidelines
the Audit Committee provides oversight on financial to ensure accurate and consistent branding and
risks and controls. Through our Risk Management publicity across all channels. We have a dedicated
Policy, strategic risks are identified, risk owners public relations team which actively monitors
are assigned, and mitigation measures are defined. and addresses negative publicity, tracking public
These risks are diligently tracked and reported to the sentiment and feedback across platforms. We strive
RMC on a regular basis. to launch positive PR campaigns and marketing
initiatives that highlight success stories, celebrate
The risk management policy can be accessed achievements aligned with our brand values, and
at https://b.zmtcdn.com/investor-relations/ encourage community involvement and betterment.
ff3961a12ba0b40f3c27a5b755a34b58_1684915561.pdf. By actively engaging with stakeholders through
surveys and feedback forms, we try our best
The Governance, Risk & Compliance team drives
to understand concerns and preferences, and
the risk management procedures within the
continuously try to improve our services.
organization. This involves the periodic identification,
assessment, and prioritization of key operational,
These measures demonstrate Zomato’s commitment
financial, strategic, and regulatory risks, followed
to maintaining brand integrity, proactively managing
by coordinated mitigation efforts. A risk register is
negative publicity, and protecting its intellectual
maintained and regularly updated to ensure effective
property.
risk tracking and mitigation. This approach promotes
transparency, minimizes adverse impacts on business • Customer Experience: Zomato as a group may
objectives, and enhances the Company’s competitive face a loss of trust and brand reputation due to
advantage by identifying risk trends, exposures, and
poor customer experiences, stemming from service
potential impacts at both the Company and business
unavailability, subpar service quality and inconsistent
segment levels.
pricing, among other factors.
As a Company, we are committed to continuously
To enhance customer experience, Zomato conducts
strengthening our risk management systems and
regular training for delivery partners, associates,
processes to keep pace with the rapidly changing
and third-party workers on food handling and service
business environment. Our framework supports
quality. Company has dedicated support team to
decision-making at all levels of the enterprise
resolve customer grievances. Customer complaints
ii. Risk and concerns: regarding subpar service quality are communicated to
In line with the ERM exercise which was conducted for restaurant partners and sellers to help them improve
Zomato at a consolidated group level, below are the their services / products. In parallel, the Company also
strategic risks which have been identified and may provides dedicated support services for restaurants
impact Zomato group in the long run: and delivery partners at City and Central level where
concerns of respective stakeholders are addressed
• Brand Reputation: Zomato may face loss of brand and resolved. Further, Customers can provide reviews
perception and reputation due to factors such as and ratings on the platform, visible to all users, and
negative publicity or feedback on multiple platforms. continuously support in improving our products and
These risks can arise from dissatisfied customers, services.
incidents attracting unfavourable public attention,
copyright infringement issues, intellectual property By actively conducting training sessions, addressing
conflicts, unauthorized use of branding elements customer grievances, ensuring price consistency,
from other companies or artists, such as logos, and responding to feedback, having dedicated
or instances of plagiarism. Such occurrences can support services Zomato is committed to delivering
47
exceptional customer experiences, maintaining • Business Strategy: Zomato faces the risk of revenue
brand trust, and continuously improving its services. stagnation and hindered growth in the absence of a
well-defined strategy for developing new products as
• Technology: With evolving technology, Zomato well as for the expansion, closure, and scalability of
can be exposed to cybersecurity risks, including stores and warehouses. This may lead to over-reliance
ransomware attacks, phishing scams, denial-of- on limited revenue sources, challenges in retaining
service (DoS) attacks, and other cyber threats. and acquiring customers, and missed opportunities
These incidents can lead to data breaches, service in exploring new markets and evolving trends.
disruptions, and the loss of confidential or sensitive
data, resulting in a loss of stakeholder trust, financial Zomato is committed to enhancing stakeholder
losses, regulatory fines, and a diminished market experience and driving long-term engagement
reputation. Additionally, app downtime, inadequate through innovation. As a group, we continuously
technology infrastructure to handle high traffic collect and act on feedback from stakeholders to
volumes, and challenges adapting to new technology refine our offerings. Rigorous testing is conducted
could cause financial and reputational harm. before any feature or product is launched to ensure
quality and reliability. Our business has diversified
To manage these risks, Zomato has established across multiple domains and has not restricted
dedicated teams and defined frameworks. Regular itself to food deliveries only. We have expanded
testing and maintenance are conducted to ensure to restaurant supplies (through Hyperpure), food
the platforms resilience against such threats. The carnivals (Zomaland), and quick commerce business
group has implemented advanced cybersecurity tools (Blinkit), reducing dependence on a single revenue
to bolster its technology infrastructure, adopting stream. We are continuously launching new
global best practices to secure its systems. Bug products such as Homely Meals, Veg-Only option,
bounty programs and initiatives like Hackerthrone are Intercity deliveries to align with evolving customer
utilized to identify security vulnerabilities. Periodic preferences. For Quick Commerce, we are expanding
Cyber Security Assessments are conducted to ensure to new cities and introducing new products to meet
robust protection. customer demands.
• People Management: Ability to attract and retain By fostering innovation, diversifying our business, and
top talent, along with succession challenges, may aligning with customer needs, Zomato is dedicated
limit our ability to achieve business goals. to overcoming growth challenges by having a clear
business strategy.
Zomato has implemented a robust succession
planning policy for the Board and critical management • Competition: Zomato may face negative impact on
positions. Additionally, we have an Equal Opportunity, business, revenue and growth due to new entrants in
Diversity, and Inclusion policy to cultivate a culture the market or increased competition from existing
of diversity, equity, and inclusion. This policy aims to competitors providing similar services.
create and sustain an environment where everyone
feels valued and respected. As part of these Zomato manages its business with agility and
initiatives, group offers equal parental and period resilience, ensuring continuous competitive growth.
leaves, among other benefits, to support employee Zomato has strategically diversified its business
well-being. The Company also fosters a culture of portfolio in businesses such as Quick Commerce,
mentorship to develop high-performing employees Restaurant supplies and Zomato live. Additionally,
for future leadership roles, promoting both individual Zomato continuously invests in research and
and organizational growth.
development to innovate its products and services
By prioritizing succession planning, fostering based on customer feedback. As an organisation,
diversity and inclusion, and nurturing talent through Zomato is deeply committed to providing exceptional
mentorship and support programs, Zomato is customer service, fostering strong stakeholder
committed to building a strong, inclusive workforce relationships, and promoting retention and repeat
capable of driving success. business. As a group, we keep harnessing our
48
execution capabilities through differentiated compliance of Regulation 24A of the SEBI Listing
products, effective marketing and promotional Regulations and the same can be accessed
activities and improved operational efficiencies. at https://b.zmtcdn.com/investor-relations/
af03c6a34ee4779c4c4157dc1fbc5836_1715582621.pdf.
16. Auditors and auditors’ reports
i. Statutory Auditors iii. Internal auditor
M/s. Deloitte Haskins & Sells, Chartered Accountants, Deepak Ahluwalia, Chartered Accountant, Head of
(FRN: 015125N), were appointed as Statutory Auditors Governance, Risk & Compliance for the Company, has
of the Company for a term of 5 (five) consecutive been appointed as the Internal Auditor in accordance
years starting from the conclusion of the 10 th AGM with the provisions of Section 138 of the Act.
till the conclusion of the 15th AGM. Further, they have
He is assigned to provide governance over internal
confirmed that:
audit, ensure implementation of robust internal
a. their appointment is within the limit prescribed controls and enhance the Company’s systems and
under the Section 141 of the Act; processes. He is supported in the discharge of his
b. they are not disqualified from continuing as duties by firms of Chartered Accountants, collectively
Statutory Auditors under the Section 141 of the Act; providing comprehensive governance and compliance
and assurance.
c. they hold a valid certificate issued by the peer review
board of the Institute of Chartered Accountants of The findings from audits and control testing are
India. presented to the Audit Committee on a quarterly
basis for their review and action.
M/s. Deloitte Haskins & Sells have given unmodified
opinion and have not given any qualification or 17. Internal financial controls and their
reservation or adverse remark or disclaimer adequacy
in their audit report on the audited financial
Internal financial controls are an integral part of
statements (standalone and consolidated) of
the Company’s risk and governance framework,
the Company for the financial year ended on
addressing financial and operational risks to ensure
March 31, 2024.
the orderly and efficient conduct of its business.
ii. Secretarial Auditors This includes adherence to Company policies,
M/s. Chandrasekaran Associates, Company safeguarding of assets, prevention and detection
Secretaries, (FRN: P1988DE002500) were appointed of fraud and errors, accuracy and completeness of
as Secretarial Auditors of the Company for the accounting records, and the timely preparation of
financial year ended on March 31, 2024. The secretarial reliable financial information.
audit report issued by the Secretarial Auditors
The Company has an adequate internal financial
does not contain any qualification or reservation or
control system over financial reporting. This system
observation or adverse remark and is annexed as
ensures that all transactions are authorized, recorded
Annexure - III A.
and reported correctly in a timely manner, providing
Further, M/s. Chandrasekaran Associates, Company reliable financial information and complying with
Secretaries, (FRN: P1988DE002500), also acted as applicable accounting standards, commensurate with
Secretarial Auditors for Zomato Hyperpure Private the size and volume of the Company’s business. Key
Limited (“ZHPL”), material unlisted subsidiary internal financial controls have been documented,
of the Company for the financial year ended on automated wherever possible and embedded in
March 31, 2024. The secretarial audit report of ZHPL respective business processes.
is annexed as Annexure - III B.
Assurance to the Board on the effectiveness of
The Company has submitted the annual secretarial internal financial controls is obtained through three
compliance report with BSE and NSE in lines of defense:
49
(a) Management reviews and self-assessments; ii) Zomato Employee Stock Option Plan 2018;
(b) Continuous controls monitoring by the Governance, iii) Zomato Employee Stock Option Plan 2021; and
Risk and Compliance Function; and
iv) Zomato Employee Stock Option Plan 2022.
(c) Independent design and operational testing by the
Subsequently, the Company formulated Zomato
Statutory and Secretarial Auditors.
The Company is of the opinion that the internal pursuant to the resolution passed by the shareholders
financial controls were adequate and operating on June 29, 2024 through postal ballot.
effectively during the financial year under review.
In accordance with the terms of ESOP Schemes,
Furthermore, these internal financial controls were
options may be granted to employees of the Company
tested by the Statutory Auditors, who reported no
and its subsidiaries which gives them rights to
material weaknesses or significant deficiencies in
receive equity share of the Company having face
their design or operation.
value of INR 1/- (Indian rupee one) each on vesting.
The Company confirms that the ESOP Schemes are in
18. Human resources
compliance with the Securities and Exchange Board
As on March 31, 2024, the permanent employees on the of India (Share Based Employee Benefits and Sweat
rolls of the Company were 3,988 (Three thousand nine Equity) Regulations, 2021 (“SEBI ESOP Regulations”)
hundred and eighty eight). The Company’s employees and there is no change in the ESOP Schemes of the
have always been one of the key stakeholders. We are
Company during the financial year under review.
committed to hiring and retaining the best talent.
We focus on promoting a collaborative, transparent, Further, the details as required to be disclosed
participative organization culture and rewarding under Regulation 14 of the SEBI ESOP Regulations
merit and sustained high performance. can be accessed at https://b.zmtcdn.com/investor-
relations/esopdisclosurefy2024.pdf and details for
The details with respect to the remuneration of
ESOP Schemes of the Company also forms part of the
directors and employees as required under Section
notes to accounts of the financial statements.
197 of the Act and Rule 5(1) of the Companies
(Appointment and Remuneration of Managerial The Company has also obtained certificates from
Personnel) Rules, 2014 is annexed as Annexure - IV. the Secretarial Auditors confirming that ESOP 2014,
ESOP 2018, ESOP 2021 and ESOP 2022 have been
In terms of Section 136 of the Act, Annual Report and
implemented in accordance with the SEBI ESOP
financial statements of the Company are being sent to
Regulations and the resolutions passed by the
the shareholders excluding information on details of
shareholders of the Company. The said certificates
employee remuneration as required under provisions of
will be made available for inspection by the members
Section 197 of the Act and Rule 5(2) & 5(3) of Companies
electronically during the AGM of the Company.
(Appointment and Remuneration of Managerial
Personnel) Rules, 2014. If any shareholder is interested
20. Disclosure under the Sexual Harassment
in obtaining a copy of the aforesaid information,
such shareholder may send an email to the Company of Women at Workplace (Prevention,
Secretary and Compliance Officer of the Company at Prohibition and Redressal) Act, 2013
companysecretary@zomato.com in this regard. The Company has zero tolerance for sexual
harassment in the workplace and has adopted a
19. Disclosure regarding employee stock gender-neutral policy on the Prevention of Sexual
options plans Harassment, in line with the provisions of the Sexual
As on financial year ended on March 31, 2024, the Harassment of Women at Workplace (Prevention,
Company has four employees stock option plan Prohibition and Redressal) Act, 2013, and the
(“ESOP Schemes”) namely: accompanying Rules. The Company has established
i) F
oodie Bay Employee Stock Option Plan 2014 a framework for employees to report cases of sexual
(“ESOP 2014”); harassment while ensuring complete confidentiality.
50
The policy can be accessed at https://b. During the financial year under review, various
z m tc d n .c o m / i n v e s to r- r e l a ti o n s /d e e c initiatives / steps were taken to improve energy
32540a09b9436c2d2a877d814f03_1684910352.pdf. conservation and reduce carbon targets such as:
To uphold this commitment, the Company has • W

e continue to prioritize the use of LED lights and
constituted an Internal Complaints Committee LED monitors in our corporate offices, stores /
(“ICC”) under the Sexual Harassment of Women at the warehouses. This initiative not only reduces energy
Workplace (Prevention, Prohibition and Redressal) consumption but also underscores our dedication
Act, 2013. The ICC comprises diverse members to energy-efficient infrastructure.
with relevant experience, dedicated to thoroughly
• W
e are dedicated to the rationalization and optimal
investigating each case and making informed
utilization of electrical equipment usage, including
decisions. The ICC’s role extends beyond addressing air-conditioning systems, office illumination, and
complaints; it also includes proactive measures for beverage dispensers. This ensures we minimize
the prevention and prohibition of sexual harassment energy waste and maximize efficiency in our
through regular training and periodic communications operations.
to educate and raise awareness.
• W
e are helping our delivery partners in adoption or
Details of complaints received and resolved during shifting to EV vehicles by connecting them with the
the financial year under review by the ICC are given respective vendors and providing them the option
below to deduct the rental amount from their payout. This
further supports our target to move towards 100%
Number of complaints filed during the 3
financial year EV based deliveries by 2030.
Number of complaints disposed of during the 3 Through these impactful initiatives, we are making
financial year substantial strides in energy conservation and carbon
Number of complaints pending as at the end 0 reduction, setting a benchmark for sustainability and
of the financial year environmental responsibility.
The details as required under Section 134 of the Act
21. Conservation of energy, technology
are given hereunder:
absorption, and foreign exchange earnings
S. Particulars Details
and outgo No.
The particulars relating to conservation of energy,
(i) the steps taken or impact on As mentioned
technology absorption, and foreign exchange conservation of energy above
earnings and outgo, as required to be disclosed under (ii) the steps taken by the Company for Nil
Section 134 of Act are as under: utilising alternate sources of energy
(iii) the capital investment on energy Nil
i. Conservation of energy conservation equipments
The Company is committed towards conservation of
energy and climate, which is reaffirmed in our actions ii. Technology absorption
and our environmental policy which is also available Zomato is a technology-first organization, harnessing
on the website of the Company. Zomato continuously the power of artificial intelligence, machine learning,
strives to reduce the environmental impact of its and advanced data science to continuously drive
operations and lower its carbon footprint. It focuses innovation for our key stakeholders. We are committed
on improving energy efficiency and improving waste to using technology to transform every aspect of
management to reduce the overall environment our business, ensuring a seamless and exceptional
footprint. experience for all stakeholders.
51
Investing in cutting-edge technology infrastructure advancement provides an enriched and immersive

is a cornerstone of our dedication to delivering a top- ordering experience, transforming every meal into
tier customer experience. Our products are highly an opportunity for exploration and connection.
personalized, intuitive, user-friendly, and visually
appealing, designed to foster high engagement with •Z
omato introduced Dish Magic, empowering
our customers. restaurant partners to craft picture-perfect
menus for a delightful ordering and delivery
Below are some of the initiatives which have experience. The AI-powered model not only
been taken in the past year driving innovation and generates backgrounds but also enhances images
technology adoption - by fixing zooming inconsistencies, adjusting color
balance, and upscaling to higher resolutions. This
• “ Recipe Rover” feature was introduced on the Blinkit
technology ensures professional-quality food
platform that leverages advanced AI technology to
pictures accessible to all our partners nationwide,
elevate the customer experience. It is powered by
enhancing visual appeal at no extra cost.
a ChatGPT and Midjourney-powered engine and
offers tailored recipe suggestions for customers’
•W
eather Stations: Zomato launched India’s first
favorite dishes. Furthermore, it provides real-
crowd-supported weather infrastructure, providing
time recommendations for ingredients required
key weather parameters such as temperature,
for preparation, seamlessly integrated within the
humidity, wind speed, and rainfall. This network
Blinkit platform, enabling customers to easily find
consists of on-ground weather stations across
and purchase them.
60 cities in India. Institutions and companies can
•Z
omato introduced an Augmented Reality (AR) access this data for free through an API (Application
menu feature on the Zomato food delivery platform, Programming Interface). As part of the Zomato
enabling customers to preview their food directly on Giveback initiative, we have opened up access to this
their tables via their smartphones before delivery. data for the public good and the greater benefit of
Leveraging the power of Augmented Reality, this our economy.
The details as required under Section 134 of the Act are given hereunder:
Sr. No. Particulars Category
(i) Efforts made for technology absorption As mentioned above

(ii) Benefits derived like product improvement, cost reduction, product As mentioned above
development or import substitution
(iii) In case of imported technology (imported during the last three years
reckoned from the beginning of the financial year)-
a) Details of technology imported NIL
b) Year of import NIL
c) Whether imported technology fully absorbed NIL
d) If not fully absorbed, areas where absorption of imported technology NIL
has not taken place and the reasons thereof
(iv) The expenditure incurred on research and development NIL
iii. Foreign exchange earnings and outgo

Particulars (INR crore)
Foreign exchange earned 42

Foreign exchange outgo 87
Foreign exchange earnings and outgo are on an accrual basis.
52
22.Statutory disclosures vii. Business Responsibility and

i. Details in respect of frauds reported by Sustainability Report (“BRSR”)
auditors SEBI vide its circular no. SEBI/HO/CFD/CMD-2/P/
During the financial year under review, pursuant to CIR/2021/562 dated May 10, 2021, made BRSR
mandatory for the top 1,000 (one thousand) listed
Section 143(12) of the Act, M/s. Deloitte Haskins &
companies (by market capitalisation) w.e.f. financial
Sells, Chartered Accountants, Statutory Auditors
year 2022-23. The BRSR maps the sustainability
and M/s. Chandrasekaran Associates, Company performance of the Company against the principles
Secretaries, Secretarial Auditors have not reported forming part of the National Guidelines on Responsible
any instance of fraud committed in the Company by Business Conduct (NGRBC).
its officers or employees to the audit committee.
SEBI vide its circular no. SEBI/HO/CFD/CFD-SEC-2/P/
ii. Requirements for maintenance of cost CIR/2023/122 dated July 12, 2023, revised the format
of BRSR to incorporate BRSR core which is a subset
records
of the BRSR consisting of a set of Key Performance
During the financial year under review, requirement
Indicators (KPIs) under nine ESG attributes. These
for maintenance of cost records as specified by BRSR Core KPIs are subject to mandatory reasonable
Central Government under Section 148 of the Act is assurance by an independent assurance provider.
not applicable on the Company. In accordance with this requirement, the Company
has appointed Deloitte Haskins & Sells LLP as the
iii. Annual return assurance provider. In compliance with Regulation
The annual return of the Company as on the financial 34 of the SEBI Listing Regulations, the BRSR is set
year ended on March 31, 2024 in terms of Section 92 out as a separate section under this Annual Report.
and Section 134 of the Act is available on the website
of the Company at www.zomato.com.
viii. Corporate governance report
The Company has complied with the corporate
iv. Material changes and commitments, if any governance requirements under the Act and SEBI
No material changes and commitments have occurred Listing Regulations. Report on corporate governance
under the SEBI Listing Regulations is set out as a
after the closure of the financial year March 31, 2024
separate section under this Annual Report.
till the date of this report, which affect the financial
position of the Company. ix. Transactions with related parties
v. Details of significant and material orders has not entered into any materially significant
passed by the regulators or courts or related party transaction. Related party transactions
tribunals impacting the going concern status entered into were approved by the audit committee
and Company’s operations in future and the Board, from time to time and are disclosed
No significant and material orders have been passed in the notes to accounts of the financial statements
by the regulators or courts or tribunals impacting the forming part of this Annual Report.
going concern status and Company’s operations in
The policy on dealing with related party transactions
future. (“RPT Policy”) formulated by the Board can be accessed
at https://b.zmtcdn.com/investor-relations/
vi. Management discussion and analysis ad6fe87b868944e29bb187fd8a22b53e_1719994084.
report pdf.
In terms of the provisions of Regulation 34 of the SEBI
Listing Regulations, management discussion and All transactions with related parties are in accordance
analysis report is set out as a separate section under with the RPT Policy. Further, during the financial
this Annual Report. year under review in terms of Section 188 of the Act,
53
all transactions entered into by the Company with xiv. Compliance with Secretarial Standards
its related parties were on arm’s length basis and During the financial year under review, the Company
ordinary course of business. Hence, disclosure under has complied with the applicable provisions of the
the prescribed Form AOC-2 in terms of Section 134 of Secretarial Standard-1 and Secretarial Standard-2
the Act is not required. issued by the Institute of Company Secretaries of
India and notified by Ministry of Corporate Affairs.
x. Deposits
The Company has not accepted any deposits from xv. Revision of financial statements and Board
public and no amount on account of principal or Report
interest on deposits from public was outstanding During the financial year under review, there were no
as on the date of the balance sheet. Accordingly, revision in the financial statements and Board Report
disclosures related to deposits as required to be made of the Company.
under the Act are not applicable to the Company.
xvi. Other disclosures
xi. Particulars of loan and advances, During the financial year under review, disclosure
guarantees and investments w.r.t. details of difference between amount of the
Details of loans and advances given, investments valuation done at the time of one time settlement and
made or guarantees given or security provided as the valuation done while taking loan from the banks or
per the provisions of Section 186 of the Act and
financial institutions along with the reasons thereof,
Regulation 34 read with Schedule V of the SEBI Listing
is not applicable.
Regulations are given in the notes forming part of the
financial statements provided in this Annual Report. 23. Directors responsibility statement
In accordance with the provisions of Section 134 of
xii. Downstream investment
the Act, directors to the best of their knowledge and
The Company being a foreign owned or controlled
belief confirm and state that:
company has complied with the provisions of the
Foreign Exchange Management Act, 1999 (“FEMA”) a) In the preparation of the annual accounts for the
read with the Foreign Exchange Management (Non- financial year ended on March 31, 2024, the applicable
debt Instruments) Rules, 2019 (“NDI Rules”) for accounting standards have been followed along with
the downstream investment made in other Indian proper explanation relating to material departures;
entities. The Company has obtained a certificate,
confirming compliance with FEMA read with the b) The directors have selected such accounting
NDI Rules from M/s. Deloitte Haskins & Sells, policies and applied them consistently and made
Chartered Accountants, (FRN: 015125N), Statutory judgments and estimates that are reasonable and
Auditors of the Company. prudent so as to give a true and fair view of the state
of affairs of the Company as at the end of the financial
xiii. Details of application made or any year March 31, 2024 and of the profit of the Company
proceeding pending under the Insolvency for that period;
and Bankruptcy Code, 2016
c) The directors have taken proper and sufficient
During the financial year under review, no application
care for the maintenance of adequate accounting
is made or proceeding is pending, by or against the
records in accordance with the provisions of the
Company under the Insolvency and Bankruptcy Code,
2016.
54
Act for safeguarding the assets of the Company and that such systems were adequate and operating
and for preventing and detecting fraud and other effectively.
irregularities;
Acknowledgments
d) The directors have prepared the annual accounts
on a going concern basis; The Board would also like to thank all stakeholders
including but not limited to shareholders, customers,
e) The directors have laid down internal financial
delivery partners, restaurant partners and all other
controls to be followed by the Company and that such
business associates for their continuous support to
internal financial controls are adequate and were
the Company and their confidence in its management.
operating effectively; and
f) The directors have devised proper systems to ensure We look forward to their continuous support in the
compliance with the provisions of all applicable laws future.
For and on behalf of the Board

Zomato Limited
Sd/- Sd/-
Deepinder Goyal Kaushik Dutta
Managing Director & Chief Executive Officer Chairman & Independent Director
DIN: 02613583 DIN: 03328890
Date: August 1, 2024 Date: August 1, 2024

Place: Gurugram Place: Gurugram
55
ANNEXURE - I
Form AOC-1
(Pursuant to first proviso to sub-section (3) of section 129 read with rule 5 of Companies (Accounts) Rules, 2014)
Statement containing salient features of the financial statement of subsidiaries and associate companies
Part A: Subsidiaries
INR crore*
1. Sr. No. 1 2 3 4 5 6 7 8 9 10
2. Name of the subsidiary Zomato Chile PT. Zomato Zomato NZ Zomato Media Zomato Media Zomato Lunchtime. cz Zomato Gastronauci Zomato
SpA Media Media Pvt. Ltd. (Private) Portugal, Ireland s.r.o Slovakia s.r.o Sp z.o.o Malaysia Sdn.
Indonesia Limited, Unipessoal, Limited Bhd.
Srilanka Lda
3. The date since when subsidiary was acquired 13-Mar-14 8-May-14 19-May-14 10-May-13 11-Feb-14 9-May-14 19-Aug-14 3-Oct-14 30-Oct-14 15-Sep-14
4. Reporting period for the subsidiary concerned, if 31-Mar-24 31-Mar-24 31-Mar-24 31-Mar-24 31-Mar-24 31-Mar-24 31-Mar-24 31-Mar-24 31-Mar-24 31-Mar-24
different from the holding company’s reporting
period.
Status Closed w.e.f. Closed w.e.f. Closed w.e.f. Closed w.e.f. Closed w.e.f.
Company Overview
29 September 21 March 2024 22 June 2023 27 July 2023 06 February

2023 2024
5. Reporting currency and exchange rate as on the Chilean peso Indonesian NZD Sri Lankan Euro Euro Czech Euro PLN Malaysian
last date of the relevant financial year in the case of rupiah Rupee Republic Ringgit
foreign subsidiaries. Koruna
Exchange rate
Closing rate 0.0850 0.0052 49.8173 0.2759 89.9318 89.9318 3.5570 89.9318 20.9446 17.6299
Average rate 0.0951 0.0054 50.4789 0.2591 89.7800 89.7800 3.6926 89.7800 20.1908 17.8264
6. Share capital - - - 0 - 923 - 7 8 4
7. Reserves & surplus - - - (0) - (910) - (7) (8) (4)
8. Total assets - - - 0 - 13 - 0 0 0
9. Total liabilities - - - - - 0 - 0 0 -
10. Investments - - - - - - - - - -
Statutory Reports: Board Report
11. Turnover - - - - - 0 - - - -
12. Profit/(loss) before taxation - (0) - (0) - 1 - (0) (0) (0)
13. Provision for taxation - - - 0 - - - - - -
14. Profit/(loss) after taxation - (0) - (0) - 1 - (0) (0) (0)
15. O ther comprehensive income - (0) - 0 - 0 - 0 0 (0)
16. Profit (loss) for the year - (0) - (0) - 1 - (0) (0) (0)
17. Proposed dividend - - - - - - - - - -
18. Extent of shareholding (in percentage) NA NA NA 100% NA 100% NA 100% 100% 100%
56
1. Sr. No. 11 12 13 14 15 16 17 18 19 20
2. Name of the subsidiary Zomato Zomato Inc. Zomato Zomato Zomato Zomato Middle Zomato Zomato Zomato Blink Commerce
Australia PTY Netherlands Internet Vietnam East Fz - LLC Philippines Internet LLC Hyperpure Private Limited
Limited B.V. Hizmetleri Company Inc. Private
Ticaret Limited Limited
Anonim Sirketi
3. The date since when subsidiary was acquired 9-Dec-14 16-Dec-14 23-Jan-15 23-Jan-15 10-Dec-14 20-Jul-15 7-Jul-15 28-Dec-16 8-Oct-15 10-Aug-22
4. Reporting period for the subsidiary concerned, 31-Mar-24 31-Mar-24 31-Mar-24 31-Mar-24 31-Mar-24 31-Mar-24 31-Mar-24 31-Mar-24 31-Mar-24 31-Mar-24
if different from the holding company’s
reporting period.
Status Closed w.e.f. Closed w.e.f.
11 June 2023 02 February
2024
5. Reporting currency and exchange rate as on AUD USD Euro Turkish Lira Vietnamese AED PHP QAR INR INR
the last date of the relevant financial year in the Dongg
case of foreign subsidiaries.
Exchange rate
Closing rate 54.2632 83.3363 89.9318 2.5670 0.0034 22.6880 1.4826 22.6539 1.0000 1.0000
Company Overview
Average rate 54.4526 83.3363 89.7800 3.1595 0.0034 22.5347 1.4796 22.5657 1.0000 1.0000
6. Share capital - 463 1 31 - 24 44 15 30 0
7. Reserves & surplus - (463) (0) (28) - 33 (46) (15) 991 468
8. Total assets - 2 1 5 - 65 1 - 1,551 1,202
9. Total liabilities - 2 0 2 - 8 3 - 530 734
10. Investments - - - - - - - - 206 136
11. Turnover - - - - - 14 - - 3,599 1,881
12. Profit/(loss) before taxation - (3) (0) 1 - 0 (1) (0) (160) (645)
13. Provision for taxation - 0 - - - - 0 - - -
14. Profit/(loss) after taxation - (3) (0) 1 - 0 (1) (0) (160) (645)
15. O ther comprehensive income - 0 0 (2) - 1 0 (0) 6 (0)
16. Profit (loss) for the year - (3) (0) (1) - 1 (1) (0) (154) (645)
17. Proposed dividend - - - - - - - - - -

18. Extent of shareholding (in percentage) NA 100% 100% 100% NA 100% 100% 100% 100% 100%
57
1. Sr. No. 21 22 23 24 25 26 27 29
2. Name of the subsidiary Delivery 21 Carthero Zomato TongueStun Zomato Local Zomato Zomato Zomato
Inc. Technologies Entertainment Food Networks Services Private Foods Private Payments Financial
Private Limited Private Limited Private Limited Limited Limited Private Services
Limited Limited
3. The date since when subsidiary was acquired 23-Oct-15 27-Mar-18 4-Dec-18 22-Nov-18 21-Jun-19 5-Sep-20 4-Aug-21 25-Feb-22
4. Reporting period for the subsidiary concerned, if different from 31-Mar-24 31-Mar-24 31-Mar-24 31-Mar-24 31-Mar-24 31-Mar-24 31-Mar-24 31-Mar-24
the holding company’s reporting period.
Status
5. Reporting currency and exchange rate as on the last date of the PHP INR INR INR INR INR INR INR
relevant financial year in the case of foreign subsidiaries.
Exchange rate
Closing rate 1.4826 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000
Average rate 1.4796 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000
6. Share capital 0 0 0 4 0 0 59 16
7. Reserves & surplus (14) 23 7 (4) 4 2 (25) (2)
Company Overview
8. Total assets - 23 25 2 17 3 38 14
9. Total liabilities 14 0 18 2 13 1 4 0
10. Investments - 2 7 1 - 2 - -
11. Turnover - - 19 - 21 - 7 -
12. Profit/(loss) before taxation - 0 (46) 21 (4) 0 (20) (1)
13. Provision for taxation - - - - - 0 - 0
14. Profit/(loss) after taxation - 0 (46) 21 (4) 0 (20) (1)
15. O ther comprehensive income 0 - (0) - (0) - (0) (0)
16. Profit (loss) for the year 0 0 (46) 21 (4) 0 (20) (1)
17. Proposed dividend - - - - - - - -
18. Extent of shareholding (in percentage) 52.20% 100% 100% 100% 100% 100% 100% 100%
Notes:
*0 represent value less than INR 50,00,000.

1. Names of subsidiaries which are yet to commence operations: Zomato Financial Services Limited (“ ZFSL”).
2. Names of subsidiaries which have been liquidated or sold during the year: Please refer status given in row no. 4 above table.
58
Part “B”: Associates

Statement pursuant to Section 129 (3) of the Act related to associate companies
Name of associates ZMT Europe LDA
1. Latest balance sheet date 31-Mar-24

2. Date on which the associate was associated or acquired 1-Jul-21
3. Status sold w.e.f
November 03,
2023
4. Shares of associate held by the Company on the year end
No. NA
Amount of investment in associates NA
Extent of holding% NA
5. Description of how there is significant influence Associate
6. Reason why the associate is not consolidated NA
7. Networth attributable to shareholding as per latest audited balance sheet NA
8. Profit / (loss) for the year
i. Considered in consolidation -
ii. Not considered in consolidation -

Zomato Limited
Sd/- Sd/-
DIN: 02613583 DIN: 03328890

Date: May 13, 2024 Date: May 13, 2024
Sd/- Sd/-
Akshant Goyal Sandhya Sethia
Chief Financial Officer Company Secretary
PAN: AIVPG9914G Mem. No.: A-29579

Date: May 13, 2024 Date: May 13, 2024
59
ANNEXURE - II
REPORT ON CSR ACTIVITIES
1. Brief outline on CSR policy of the Company

The CSR policy outlines the Company’s philosophy and responsibility and lays down the guidelines and
mechanism for undertaking socially impactful programs towards welfare and sustainable development of
the community around the area of its operations.
The CSR policy of the Company has been reviewed and re-approved by the Board in its meeting held on May 13,
2024. There has been no material change in the CSR policy during the financial year ended on March 31, 2024.
2. Composition of CSR committee and meeting(s) held

Sr. no. Name of director(s) Designation / nature of Number of meeting(s) of
directorship CSR Committee attended
during the year1
1 Deepinder Goyal Chairman/ Managing Director &

Chief Executive Officer
3 Aparna Popat Ved Member/ Non- Executive
4 Gunjan Tilak Raj Soni Member/ Non- Executive
2 Namita Gupta Member/ Non- Executive
1 During the financial year under review, the CSR Committee met twice on July 31, 2023 and February 7, 2024.
3. Provide the web-link(s) where composition of CSR committee, CSR policy and CSR projects
approved by the Board are disclosed on the website of the Company
Composition of CSR committee https://www.zomato.com/investor-relations/governance
CSR Policy of the Company https://b.zmtcdn.com/investor-relations/52bf1204249e292
0e3421b2ec418674a_1684910307.pdf
CSR projects approved by the Board Not applicable
4. Provide the executive summary along with web-link(s) of impact assessment of CSR Projects
carried out in pursuance of sub-rule (3) of rule 8, if applicable: Not applicable.
5. (a) Average net profit of the Company as per sub-section (5) of section 135: Nil, due to aggregated
losses during three preceding financial years.
(b) T
wo percent of average net profit of the Company as per sub-section (5) of section 135: Not
applicable.
(c) Surplus arising out of the CSR projects or programmes or activities of the previous financial years:
Not applicable.
(d) Amount required to be set off for the financial year, if any: Not applicable.
(e) Total CSR obligation for the financial year ((5b)+(5c)- (5d)): Not applicable.
60
6. (a) A
mount spent on CSR Projects (both ongoing project and other than ongoing project): Not
applicable.
(b) Amount spent in administrative overheads: Not applicable.
(c) Amount spent on impact assessment, if applicable: Not applicable.
(d) Total amount spent for the financial year ((6a)+(6b)+(6c)): Not applicable.
(e) CSR amount spent or unspent for the financial year: Not applicable.
(f) Excess amount for set-off, if any: Not applicable.
7. Details of unspent CSR amount for the preceding three financial years: Not applicable.
8. Whether any capital assets have been created or acquired through CSR amount spent in the
financial year: Not applicable.
9. Specify the reason(s), if the Company has failed to spend two per cent of the average net profit
as per sub-section (5) of section 135: Not applicable.

Zomato Limited
Sd/- Sd/-
Deepinder Goyal Namita Gupta
Managing Director & Chief Executive Officer Independent Director
Chairman - CSR Committee Member – CSR Committee
DIN: 02613583 DIN: 07337772

61
ANNEXURE - III A
FORM NO. MR-3
SECRETARIAL AUDIT REPORT
FOR THE FINANCIAL YEAR ENDED MARCH 31, 2024
To, (iv) Foreign Exchange Management Act, 1999 and

The Members the rules and regulations made thereunder to the
Zomato Limited extent of Foreign Direct Investment, Overseas Direct
Ground Floor 12A, 94 Meghdoot, Investment and External Commercial Borrowings;
Nehru Place, New Delhi – 110019
(v) The following Regulations and Guidelines
We have conducted the Secretarial Audit of the prescribed under the Securities and Exchange Board
compliance of applicable statutory provisions and the of India Act, 1992 (‘SEBI Act’):-
adherence to good corporate governance practices by
Zomato Limited (hereinafter called “the Company”). (a) The Securities and Exchange Board of India
Secretarial Audit was conducted in a manner that (Substantial Acquisition of Shares and Takeovers)
provided us a reasonable basis for evaluating the Regulations, 2011;
corporate conducts/ statutory compliances and
(b) The Securities and Exchange Board of India
expressing our opinion thereon.
(Prohibition of Insider Trading) Regulations, 2015;
Based on our verification of the Company’s books,
(c) The Securities and Exchange Board of India (Issue
papers, minute books, forms and returns filed and
of Capital and Disclosure Requirements) Regulations,
other records maintained by the Company and also
2018 to the extent applicable;
the information provided by the Company, its officers,
agents and authorized representatives during the (d) Securities and Exchange Board of India (Share
conduct of secretarial audit, we hereby report that in Based Employee Benefits and Sweat Equity)
our opinion, the company has, during the audit period Regulations, 2021 to the extent applicable;
covering the financial year ended on March 31, 2024
(‘Audit Period’) complied with the statutory provisions (e) Securities and Exchange Board of India (Issue and
listed hereunder and also that the Company has Listing of Non-Convertible Securities) Regulations,
proper Board-processes and compliance-mechanism 2021; Not applicable to the Company during the
in place to the extent, in the manner and subject to the Audit Period
reporting made hereinafter.
(f) The Securities and Exchange Board of India
We have examined the books, papers, minute books, (Registrars to an Issue and Share Transfer Agents)
forms and returns filed and other records maintained Regulations, 1993 regarding the Companies Act and
by the Company for the financial year ended on March dealing with client to the extent of securities issued;
31, 2024 according to the provisions of:
(g) The Securities and Exchange Board of India
(i) The Companies Act, 2013 (‘the Act’) and the rules (Delisting of Equity Shares) Regulations, 2021; Not
made thereunder; applicable to the Company during the Audit Period
(ii) The Securities Contracts (Regulation) Act, 1956 (h) The Securities and Exchange Board of India (Buy-
(‘SCRA’) and the rules made thereunder; back of Securities) Regulations, 2018; Not applicable
to the Company during the Audit Period
(iii) The Depositories Act, 1996 and the Regulations
and Bye-laws framed thereunder to the extent of (vi) The management has identified and confirmed the
Regulation 76 of SEBI (Depositories and Participants) following laws as being specifically applicable to the
Regulations, 2018; Company:
62
a) Food Safety & Standards Act, 2006; Adequate notice is given to all Directors to schedule
b) The Food Safety & Standards Rules, 2011; the Board Meetings. Agenda and detailed notes on
agenda were sent at least seven days in advance
c) Legal Metrology Act, 2009 except in cases where meetings were convened at a
shorter notice. The Company has complied with the
We have also examined compliance with the applicable
clauses/Regulations of the following: provisions of Act for convening meeting at the shorter
notice. A system exists for seeking and obtaining
i) Secretarial Standards issued by The Institute of further information and clarifications on the agenda
Company Secretaries of India and notified by Ministry items before the meeting and for meaningful
of Corporate Affairs;
participation at the meeting.
ii) Securities Exchange Board of India (Listing
Obligations and Disclosure Requirements) All decisions at Board Meetings and Committee
Regulations, 2015. Meetings are carried out unanimously as recorded in
the minutes of the meetings of the Board of Directors
During the period under review, the Company has or Committees of the Board, as the case may be.
generally complied with the provisions of the Act,
Rules, Regulations, Guidelines, Standards, etc. We further report that there are adequate systems
mentioned above. and processes in the company commensurate with
the size and operations of the company to monitor
We further report that and ensure compliance with applicable laws, rules,
The Board of Directors of the Company is duly regulations and guidelines.
constituted with proper balance of Executive
Directors, Non-Executive Directors and Independent We further report that during the audit period,
Directors. The changes, in the composition of the following major events have happened in pursuance
Board of Directors that took place during the period of the above referred laws, rules, regulations,
under review were carried out in compliance with the guidelines, standards, etc.:
provisions of the Act.
(i) The Company’s capital structure was changed on various intervals due to allotment of equity shares pursuant
to following events:
Date Particular Manner of Allotment
April 25, 2023 2,56,77,266 Equity Pursuant to exercise of options by the employees of the
shares having a Company and its subsidiaries Zomato Employee Stock Option
face value of Re. 1/- Plan 2018 & Zomato Employee Stock Option Plan 2021
July 31, 2023 2,52,59,179 Equity Pursuant to exercise of options by the employees of the
Shares having a company and its subsidiaries under Zomato Employee Stock
face value of INR 1/- Option Plan 2018 and Zomato Employee Stock Option Plan 2021.
November 03, 2023 10,64,69,448 Equity Pursuant to exercise of options by the employees of the
face value of INR Option Plan 2018, Zomato Employee Stock Option Plan 2021
1/- and Zomato Employee Stock Option plan 2022.
February 08, 2024 10,88,68,081 Equity Pursuant to exercise of options by the employees of the
face value of INR Option Plan 2018, Zomato Employee Stock Option Plan 2021
1/- and Zomato Employee Stock Option plan 2022.
63
Considering the above said allotment of Equity b. Acquired 1,21,23,941 Equity Shares of Zomato
shares, the issued, subscribed and paid-up capital Hyperpure Private Limited (“ZHPL”) for an aggregate
of the Company stands increased to 8,81,97,83,744 cash consideration of INR 6,99,99,99,815.17/-
Equity Shares of INR 1/- each as at end of period
c. Acquired 8,051 Equity Shares and 24,449 Equity
under review.
Shares of Zomato Local Services Private Limited
(ii) The Company had divested the investments (“ZLSPL”) for an aggregate cash consideration of INR
into following Companies resulting in cessation of 99,99,342/- and INR 6,99,97,487/- respectively.
Subsidiary Company, Wholly Owned Subsidiary and d. Acquired 94,65,215 Equity Shares of Zomato
Associate Company: Payments Private Limited (“ZPPL”) for an aggregate
cash consideration of INR 19,99,99,992.95/-
a. Zomato NZ Media Private Limited, wholly owned
subsidiary of the Company, located in New Zealand e. Acquired 40,00,000 Equity Shares of Zomato
has been deregistered effective from June 22, Financial Services Limited (“ZFSL”) for an aggregate
2023 and accordingly ceases to be subsidiary of the cash consideration of INR 4,00,00,000/-
Company.
f. Acquired 5,670 Equity Shares and 10,444 Equity
b. Zomato Media Portugal, Unipessoal LDA, wholly shares of Zomato Entertainment Private Limited
owned subsidiary of the Company, located in Portugal (“ZEPL”) for an aggregate cash consideration of INR
has been dissolved on July 27, 2023 and accordingly 18,99,96,030/- and INR 34,99,67,996/- respectively.
ceases to be subsidiary of the Company.
c. Zomato Chile SpA (“ZM Chile”), a wholly owned

subsidiary of the Company located in Chile has been For Chandrasekaran Associates
liquidated w.e.f. September 29, 2023 accordingly Company Secretaries
ceases to be subsidiary of the Company. FRN: P1988DE002500
Peer Review Certificate No.: 5715/2024
d. The Company has sold its entire voting rights
constituting to 30% in ZMT Europe LDA, an associate Sd/-
company, located in Portugal and accordingly ZMT Dr. S Chandrasekaran
Europe LDA ceases to be an associate of the Company. Senior Partner
Membership No. F1644
e. PT. Zomato Media Indonesia (“PTZMI”), a wholly Certificate of Practice No. 715
owned subsidiary of the Company located in Indonesia UDIN: F001644F000747851
has been liquidated w.e.f. March 21, 2024 and
accordingly ceases to be subsidiary of the Company. Date: July 16, 2024
Place: Delhi
(iii) During the period under review, the Company
has acquired direct stake in following companies on Notes:
various intervals: (i)This report is to be read with our letter of even date which is
annexed as Annexure-A to this Report and forms an integral part
of this report.
a. Acquired 6,115 Equity Shares of Blink Commerce
(ii)This Report is limited to the Statutory Compliances on laws/
Private Limited (formerly known as Grofers India
regulations / guidelines listed in our report which have been
Private Limited) (“BCPL”) for an aggregate cash complied by the Company up to the date of this Report pertaining
consideration of INR 7,49,92,34,205/- to financial year ended March 31, 2024.
64
ANNEXURE - A
To, 5. The compliance of the provisions of Corporate and

The Members other applicable laws, rules, regulations, standards is
Zomato Limited the responsibility of management. Our examination
Ground Floor 12A, 94 Meghdoot, Nehru Place, was limited to the verification of procedures on
New Delhi – 110019 random test basis.
Our Report of even date is to be read along with this 6. The Secretarial Audit Report is neither an assurance
letter. as to the future viability of the company nor of the
efficacy or effectiveness with which the management
1. Maintenance of secretarial record is the
has conducted the affairs of the Company.
responsibility of the management of the Company.
Our responsibility is to express an opinion on these
secretarial records based on our audit.
2. We have followed the audit practices and For Chandrasekaran Associates

processes as were appropriate to obtain reasonable Company Secretaries
assurance about the correctness of the contents of FRN: P1988DE002500
the secretarial records. The verification was done on Peer Review Certificate No.: 5715/2024
the random test basis to ensure that correct facts
are reflected in secretarial records. We believe that Sd/-
the processes and practices, we followed provide a Dr. S Chandrasekaran
reasonable basis for our opinion. Senior Partner
3. We have not verified the correctness and Certificate of Practice No. 715
appropriateness of financial records and Books of UDIN: F001644F000747851
Accounts of the Company.
Date: July 16, 2024
4. Wherever required, we have obtained the
Place: Delhi
Management representation about the compliance of
laws, rules and regulations and happening of events
etc.
65
ANNEXURE - III B
FORM NO. MR-3
SECRETARIAL AUDIT REPORT
FOR THE FINANCIAL YEAR ENDED MARCH 31, 2024
To, (iv) Foreign Exchange Management Act, 1999 and

The Members the rules and regulations made thereunder to the
Zomato Hyperpure Private Limited extent of Foreign Direct Investment, Overseas Direct
Ground Floor 12A, 94 Meghdoot, Nehru Place, Investment and External Commercial Borrowings to
New Delhi – 110019 the extent applicable;
We have conducted the Secretarial Audit of the (v) The following Regulations and Guidelines
compliance of applicable statutory provisions and the prescribed under the Securities and Exchange Board
adherence to good corporate governance practices of India Act, 1992 (‘SEBI Act’):- Not applicable to the
by Zomato Hyperpure Private Limited (hereinafter Company during the Audit Period
called “the Company”). Secretarial Audit was
conducted in a manner that provided us a reasonable (a) The Securities and Exchange Board of India
basis for evaluating the corporate conducts/ statutory (Substantial Acquisition of Shares and Takeovers)
compliances and expressing our opinion thereon. Regulations, 2011;
Based on our verification of the Company’s books, (b) The Securities and Exchange Board of India
papers, minute books, forms and returns filed and (Prohibition of Insider Trading) Regulations, 2015;
other records maintained by the Company and also
the information provided by the Company, its officers, (c) The Securities and Exchange Board of India (Issue
agents and authorized representatives during the of Capital and Disclosure Requirements) Regulations,
conduct of secretarial audit, we hereby report that in 2018;
our opinion, the Company has, during the audit period
covering the financial year ended on March 31, 2024 (d) Securities and Exchange Board of India (Share
(‘Audit Period’) complied with the statutory provisions Based Employee Benefits and Sweat Equity)
listed hereunder and also that the Company has Regulations, 2021 and Securities and Exchange Board
proper Board-processes and compliance-mechanism of India (Share Based Employee Benefits) Regulations,
in place to the extent, in the manner and subject to the 2014 prior to its repealment;
reporting made hereinafter.
(e) The Securities and Exchange Board of India
We have examined the books, papers, minute books, (Issue and Listing of Non-Convertible Securities)
forms and returns filed and other records maintained Regulations, 2021 and Securities and Exchange
by the Company for the financial year ended on March Board of India (Issue and Listing of Debt Securities)
31, 2024 according to the provisions of: Regulation, 2008 prior to its repealment;
(i) The Companies Act, 2013 (‘the Act’) and the rules (f) The Securities and Exchange Board of India
made thereunder; (Registrars to an Issue and Share Transfer Agents)
Regulations, 1993 regarding the Companies Act and
(ii) The Securities Contracts (Regulation) Act, dealing with client to the extent of securities issued;
1956 (‘SCRA’) and the rules made thereunder; Not
applicable to the Company during the Audit Period (g) The Securities and Exchange Board of India
(Delisting of Equity Shares) Regulations, 2021;
(iii) The Depositories Act, 1996 and the Regulations
and Bye-laws framed thereunder to the extent (h) The Securities and Exchange Board of India (Buy-
applicable back of Securities) Regulations, 2018;
66
(vi) The management has identified and confirmed of the above referred laws, rules, regulations,
the following laws as being specifically applicable to guidelines, standards, etc.:
the Company:
(i) During the audit period, the Company has allotted
a) Food Safety & Standards Act, 2006;
1,21,23,941 Equity Shares of face value INR 10/- at a
b) The Food Safety & Standards Rules, 2011; price of INR 577.37 per equity share and accordingly,
c) Legal Metrology Act, 2009. the issued, subscribed and paid up capital of the
Company stands increased to 2,95,44,327 Equity
We have also examined compliance with the applicable shares of INR 10 each as at end of audit period.
clauses/Regulations of the following:
i) Secretarial Standards issued by The Institute of (ii) During the audit period, M/s B.B & Associates,
Company Secretaries of India and notified by Ministry Chartered Accountants submitted their resignation
of Corporate Affairs; as statutory auditor of the Company with effect from
May 13, 2023.
During the period under review, the Company has
generally complied with the provisions of the Act, M/s. S.R. Batliboi & Associates LLP, Chartered
Rules, Regulations, Guidelines, Standards, etc. Accountants (FRN: 101049W/E300004), was
appointed as the statutory auditor of the Company
We further report that w.e.f June 9, 2023 to fill the casual vacancy caused
The Board of Directors of the Company is duly by resignation of M/s. B.B. & Associates, Chartered
constituted with proper balance of Executive Accountants.
Directors, Non-Executive Directors and Independent
Directors. The changes, in the composition of the Further, M/s. S.R. Batliboi & Associates LLP, Chartered
Board of Directors that took place during the audit Accountants (FRN: 101049W/E300004) was re-
period were carried out in compliance with the appointed as Statutory Auditor of the Company for
provisions of the Act. a period of five consecutive years starting from the
conclusion of 8th Annual General Meeting held until
Adequate notice is given to all Directors to schedule
the conclusion of 13th Annual General Meeting of the
the Board Meetings. Agenda and detailed notes on
Company.
agenda were sent at least seven days in advance
except in cases where meetings were convened at a
Note: This report is to be read with our letter of even
shorter notice. The Company has complied with the
date which is annexed as Annexure-A to this Report
provisions of Act for convening meeting at the shorter
and forms an integral part of this report.
notice. A system exists for seeking and obtaining
further information and clarifications on the agenda
items before the meeting and for meaningful
participation at the meeting. For Chandrasekaran Associates
Company Secretaries
All decisions at Board Meetings are carried out FRN: P1988DE002500
unanimously as recorded in the minutes of the Peer Review Certificate No.: 4186/2023
meetings of the Board of Directors of the Board, as
the case may be. Sd/-
Dr. S. Chandrasekaran
We further report that there are adequate systems
Senior Partner
and processes in the company commensurate with
the size and operations of the company to monitor
Certificate of Practice No. 715
and ensure compliance with applicable laws, rules,
regulations and guidelines. UDIN: F001644F000344140
We further report that during the audit period, Date: May 10, 2024
following major events have happened in pursuance Place: Delhi
67
ANNEXURE - A
To, 5. The compliance of the provisions of Corporate and

The Members other applicable laws, rules, regulations, standards is
Zomato Hyperpure Private Limited the responsibility of management. Our examination
Ground Floor 12A, 94 Meghdoot, Nehru Place, was limited to the verification of procedures on
New Delhi – 110019 random test basis.
Our Report of even date is to be read along with this 6. The Secretarial Audit Report is neither an
letter. assurance as to the future viability of the company
nor of the efficacy or effectiveness with which
1. Maintenance of secretarial record is the
the management has conducted the affairs of the
responsibility of the management of the Company.
Company.
Our responsibility is to express an opinion on these
secretarial records based on our audit.
2. We have followed the audit practices and

processes as were appropriate to obtain reasonable For Chandrasekaran Associates
assurance about the correctness of the contents of Company Secretaries
the secretarial records. The verification was done on FRN: P1988DE002500
the random test basis to ensure that correct facts Peer Review Certificate No.: 4186/2023
are reflected in secretarial records. We believe that
the processes and practices, we followed provide a Sd/-
reasonable basis for our opinion. Dr. S. Chandrasekaran
3. We have not verified the correctness and Senior Partner
appropriateness of financial records and Books of Membership No. F1644
Accounts of the Company. Certificate of Practice No. 715
UDIN: F001644F000344140
4. Wherever required, we have obtained the
Management representation about the compliance of Date: May 10, 2024
laws, rules and regulations and happening of events Place: Delhi
etc.
68
ANNEXURE - IV
Particulars of employees and related disclosure

Statement of disclosure of remuneration under section 197 of the Act read with rule 5(1) of the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014
(a) The ratio of remuneration of each director to the median remuneration of the employees of the
Company for the financial year, remuneration and percentage increase in remuneration of each
director, chief financial officer, chief executive officer and company secretary in the financial year
Name of the director(s) Designation 1

Ratio of Remuneration % increase in
remuneration of each remuneration
of each director director & KMP
to the median (amount in INR
remuneration of crore)
employees for
the financial year
ended on March
31, 2024
Non-executive director
Kaushik Dutta Non-Executive and 2.822 0.242 0.00
Aparna Popat Ved Non-Executive and 2.822 0.242 0.00
Gunjan Tilak Raj Soni Non-Executive and 2.822 0.242 0.00
Namita Gupta Non-Executive and 2.822 0.242 0.00
Sanjeev Bikhchandani Non-Executive and –3 –3 –3
Nominee Director
Sutapa Banerjee Non-Executive and 2.822 0.242 0.00
Executive director and key managerial personnel
Deepinder Goyal Managing Director –4 04 0.00
& Chief Executive
Officer
Akshant Goyal Chief Financial Officer –5 05 0.00
Sandhya Sethia Company Secretary 9.41 0.80 52.61
and Compliance
Officer
(b) The percentage increase in the median remuneration of employees in the financial year
The overall median remuneration of employees is reduced by 16.8% during the financial year.
(c) The number of permanent employees on the rolls of Company

6
Permanent employees on the rolls of the Company as on March 31, 2024 were 3,988 (Three thousand nine
hundred and eighty eight).
69
(d) Average percentile increase already made in the salaries of employees other than the managerial
personnel in the last financial year and its comparison with the percentile increase in the managerial
remuneration and justification thereof and point out if there are any exceptional circumstances for
increase in the managerial remuneration
The average salaries of employee other than managerial personnel decreased by 1.9%.
Disclosure w.r.t. increase in managerial remuneration and justification thereof is not applicable as Deepinder
Goyal, Managing Director & Chief Executive Officer has voluntarily waived his salary for a period of 36 months
starting from April 1, 2021.
(e) Affirmation that the remuneration is as per the remuneration policy of the Company
It is hereby affirmed that the remuneration paid to directors and key managerial personnel is as per the NRC
Policy of the Company.
*Notes:
1
Excludes the perquisite value of stock options granted in previous years but exercised during the financial year by the employees of
the Company.
2
Excludes sitting fees paid during the financial year 2023-24. Please refer page no. 139 for the details of sitting fees.
3
The Company has not paid any remuneration and sitting fees to nominee director of the Company.
4
Deepinder Goyal has voluntarily waived his salary for a period of 36 months starting from April 1, 2021.
5
Akshant Goyal has voluntarily waived his salary from January 1, 2022.
6
Permanent employees includes only full time employees of the Company.

Zomato Limited
Sd/- Sd/-
DIN: 02613583 DIN: 03328890

70
BUSINESS RESPONSIBILITY AND SUSTAINABILITY REPORT
SECTION A – GENERAL DISCLOSURES

I. Details of the listed entity
1. Corporate Identity Number (CIN) of the Listed : L93030DL2010PLC198141
Entity
2. Name of the Listed Entity : Zomato Limited
3. Year of incorporation : 2010
4. Registered office address : Ground Floor 12A, 94 Meghdoot Nehru Place,
New Delhi-110019
5. Corporate address : Pioneer Square Building, Sector 62, Golf Course
Extension Road, Gurugram, Haryana, 122098
6. E-mail : companysecretary@zomato.com
7. Telephone : 0124-4268565
8. Website : www.zomato.com
9. Financial year for which reporting is being done : 1st April 2023- 31st March 2024
10. Name of the Stock Exchange(s) where shares are : 1. BSE Limited (BSE)
listed 2. National Stock Exchange of India Limited (NSE)
11. Paid-up capital : INR 8,81,97,83,744
12. Name and contact details (telephone, email : Ms. Anjalli Ravi Kumar
address) of the person who may be contacted in Email: companysecretary@zomato.com
case of any queries on the BRSR Report Ph: 0124 4268565
13. Reporting boundary : Standalone basis*
14. Name of the assurance provider : Deloitte Haskins & Sells LLP
15. Type of assurance obtained : Reasonable and Limited**
*Zomato Limited (on a standalone basis) includes Zomato Limited India operations, Zomato Limited’s branches in Dubai, Abu Dhabi and
Philippines, and Foodiebay Employees ESOP Trust. (ESOP Trust and the Philippines branch do not have any operations or employees.)
**Reasonable assurance on BRSR Core and Limited assurance on select non-core KPIs of BRSR. Please refer to pages 117 to 127 for
assurance report.
II. Products/Services
16. Details of business activities (accounting for 90% of the turnover):
Sr. No. Description of Main Activity Description of Business Activity % of Turnover

of the entity
1 Information Service Activities Other information & communication 100%

(NIC Code: 63999) service activities
71
17. Products/Services sold by the entity (accounting for 90% of the entity’s Turnover):
Sr. No. Product/Service NIC Code % of total Turnover
contributed
1 Zomato - India Food Ordering and Delivery Business 63999 96%
III. Operations
18. Number of locations where plants and/or operations/offices of the entity are situated:
Location Number of plants Number of offices* Total
National 0 2 2
International 0 0 0
*Zomato Limited (standalone) employees work out of leased offices (4) of which (2) had more than 100 employees as of 31 Marchst
2024 (this is the number reflected in the table above). In addition, our employees work out of co-working spaces (32) in India and
UAE. We also have 15 single seater non-operational offices with no employees. The reporting boundary for all financial, social and
governance disclosures in this report, unless otherwise stated, include all types of offices, i.e., the entire operations of Zomato
Limited (standalone).
Our environmental disclosures are based on the principles of materiality and operating control. These are further discussed
topic-wise as below:
Energy: Our disclosures include energy from fuel and purchased electricity used in owned vehicles, directly leased offices and DG
sets where we have established operational control. Energy from electricity consumed across our offices outside our operational
control is placed within our value chain and will be disclosed as part of our value chain disclosures.
GHG emissions: Our Scope 1 GHG emissions are limited to those generated by refilling of gas in owned ACs and fire extinguishers,

fuel used in owned vehicles and directly leased DG sets. Emissions from electricity consumption in directly leased offices where
we have established operational control are reported in Scope 2 of GHG emissions.
Water: Our boundary for water withdrawal, consumption and discharge is restricted to direct leased offices where we have

established operational control, following the principle of operational control and materiality in accordance with CDP & GHG
Protocol guidance.
Waste: The reporting boundary for our waste disclosures includes directly leased offices where we’ve procured waste
management services ourselves.
These environmental disclosures have been apportioned and extrapolated based on data availability.
Further details on the inclusions within above topics are under Principle 6 of this report.
19. Markets served by the entity:

Zomato Limited operates in India and UAE.
a. Number of locations
Locations Number
National (No. of States) 34 (28 States and 6 Union Territories)

International (No. of Countries) 1 (UAE)
*The data reported is as on March 31, 2024.
b. What is the contribution of exports as a percentage of the total turnover of the entity?
There is a limited export for Zomato IP to its overseas group entities and marketing services to a third
party. Total export is 0.27% of total revenue from operations of Zomato Limited for FY24.
c. A brief on types of customers

For the purpose of this BRSR disclosure, we have two types of customers as defined below-
1. nd-users of our platform - End-users are customers who use our platform to search and
E
discover restaurants, read and write customer generated reviews and view and upload photos,
order food delivery, book a table and make payments while dining-out at restaurants.
72
2. Restaurant partners - We provide restaurant partners with industry-specific marketing tools

which enable them to engage and acquire customers to grow their business while also providing
a reliable and efficient last mile delivery service.
ote: As per the Indian Accounting Standards, end-users and delivery partners are considered as Zomato’s
N
customers only under limited circumstances. For the purpose of this BRSR disclosure, the definition of
customers includes end-users and restaurant partners while delivery partners have been considered as
value chain partners.
IV. Employees
20. Details as at the end of Financial Year:
a. Employees and workers (including differently abled):
Sr. No. Particulars Total Male Female Other

(A)
No. (B) % (B/A) No. (C) % (C/A) No. (D) % (D/A)
EMPLOYEES
1. Permanent (D) 3,988 3,058 76.68% 929 23.30% 1 0.03%
2. Other than Permanent (E) 452 368 81.42% 84 18.58% 0 0.00%
3. Total employees (D+E) 4,440 3,426 77.16% 1,013 22.82% 1 0.02%
WORKERS
4. Permanent (F)* 0 0 0 0 0 0 0
5. Other than Permanent (G)** 316 263 83.23% 53 16.77% 0 0.00%
6. Total workers (F + G) 316 263 83.23% 53 16.77% 0 0.00%
*Zomato does not engage permanent workers, hence, details sought for ‘Permanent Workers’ category are ‘0’ throughout this
report.
**Other than Permanent Workers include housekeeping, security, technical staff, pantry staff, driver, creche staff and emergency
medical technicians. Delivery partners are value chain partners and hence, they are not a part of Zomato’s workforce.
b. Differently abled Employees and Workers, FY24:
Sr. No. Particulars Total Male Female Other

(A)
No. (B) % (B/A) No. (C) % (C/A) No. (D) % (D/A)
DIFFERENTLY ABLED EMPLOYEES

1. Permanent (D)* 9 5 55.55% 4 44.45% 0 0%
2. Other than Permanent (E)* 0 0 0% 0 0% 0 0%
3. Total differently abled 9 5 55.55% 4 44.45% 0 0%
employees (D+E)
DIFFERENTLY ABLED WORKERS
4. Permanent (F) 0 0 0% 0 0% 0 0%
5. Other than permanent (G)* 4 3 75% 1 25% 0 0%
6. Total differently abled 4 3 75% 1 25% 0 0%
workers (F + G)
*In FY24, Zomato had circulated a Voluntary Disclosure form to disclose any form of disability, to all its permanent employees, other
than permanent employees and other than permanent workers.
73
21. Participation/Inclusion/Representation of women:

Total No. and percentage of Females
(A)
No. (B) % (B/A)
Board of Directors 7 4 57.14%

Key Management Personnel 3 1 33.33%
22. Turnover rate for permanent employees and workers:

(Disclose trends for the past 3 years)
FY 2023-24 FY 2022-23 FY 2021-22
Male Female Other Total* Male Female Other Total Male Female Other Total
Permanent 34.79% 44.44% 100.00%** 37.00% 37.70% 53.35% 0% 41.42% 34.90% 39.01% 0% 35.97%
Employees
Permanent 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Workers
* The above attrition numbers include employee exits on account of (a) inter-company movements from Zomato Limited to its
subsidiaries, (b) exits in our frontline personnel category (primarily includes sales, customer support and logistics functions), which
account for a large part of our exits.
**There was one exit and one new joiner in the ‘other’ category, hence, the turnover rate is 100%.
V. Holding, subsidiary and associate companies (including joint ventures)

23. (a) Names of holding / subsidiary / associate companies / joint ventures:
Refer to Board’s Report as part of this Annual Report, FY24, pages 56 to 59 for information on
subsidiary / associate companies.
VI. CSR Details

24. (i) Whether CSR is applicable as per section 135 of Companies Act, 2013:
While the constitution of CSR committee is required and is done by the Company, other
provisions w.r.t spending on CSR activities is not applicable for FY24.
(ii) Turnover (in Rs.): INR 6,622 crore
(iii) Net worth (in Rs.): INR 22,654 crore
VII. Transparency and Disclosure Compliances

25. Complaints/Grievances on any of the principles (Principles 1 to 9) under the National Guidelines
on Responsible Business Conduct:
FY 2023-24 FY 2022-23
Stakeholder Grievance Number of Number of Remarks Number of Number of Remarks

group from Redressal complaints complaints complaints complaints
whom Mechanism in filed during pending filed during pending
complaint is Place (Yes/No) the year resolution the year resolution
received at close of at close of
the year** the year
Communities Yes: Link 0 0 Legal cases filed 0 0 Legal cases filed

before any court before any court
of law have been of law have been
considered. considered.
Shareholders Yes: Link 490 0 Complaints filed 419 1 Complaints filed
on the NSE and on the NSE and
BSE have been BSE have been
considered. considered.
74
FY 2023-24 FY 2022-23
Stakeholder Grievance Number of Number of Remarks Number of Number of Remarks

group from Redressal complaints complaints complaints complaints
whom Mechanism in filed during pending filed during pending
complaint is Place (Yes/No) the year resolution the year resolution
received at close of at close of
the year** the year
Investors Yes: Link - - Not applicable - - Not applicable

(other than
shareholders)
Employees and Yes 68 0 POSH, human 35 0 POSH and
workers* (Links: POSH Policy, rights, health whistleblower
Vigil Mechanism & safety and complaints
and Whistleblower whistleblower have been
Policy, complaints considered.
Health & Safety have been
and Human Rights considered.
Policy)
Customers Yes: Link 47 91 Legal cases filed 55 75 Legal cases filed
(End-users before various before various
and restaurant courts have been courts have been
partners) considered. considered.
Value Chain Yes: Link 4 10 Legal cases filed 6 10 Legal cases filed
Partners (Delivery before any court before any court
partners and of law have been of law have been
suppliers/ considered. considered.
vendors)
Other (please -
specify)
*On September 27, 2023, we introduced a QR code system for our workforce to report complaints at all locations except our Gurugram
office, where internal communication channels are used to raise complaints. On January 16, 2024, we also introduced a dedicated
Safety Reporting System (SRS) for all employees to report Health & Safety issues.
**The number of complaints pending resolution at close of the year FY24 also includes the unresolved complaints from FY23.
26. Overview of the entity’s material responsible business conduct issues

Please indicate material responsible business conduct and sustainability issues pertaining to environmental
and social matters that present a risk or an opportunity to your business, rationale for identifying the same,
approach to adapt or mitigate the risk along-with its financial implications, as per the following format:
Sr. Material Indicate Rationale for In case of risk, approach to adapt or mitigate Financial implications
No. identified whether identifying the risk / of the risk or
issue risk or opportunity opportunity
opportunity (Indicate positive or
(R/O) negative implications)
1. Environment Risk Risk- Climate change, Our climate risk management measures- Negative implications-
Climate and GHG emissions • C limate risk assessment- In the reporting year, Ignoring climate
change from last-mile we have undertaken climate risk assessment change risks or
and GHG deliveries pose a exercise for our food ordering and delivery failing to comply with
emissions significant risk to business and are currently in the process of applicable regulations
business due to assessing the impact of physical climate risks can result in
changing temperature such as cyclones, storms, heavy precipitation, increased operational
and precipitation increasing / decreasing temperature, flooding costs, supply chain
patterns, extreme and heat / cold waves and transitional risks disruptions, regulatory
weather events and across our top 15 cities under IPCC RCP 2.6 and fines, declining
evolving regulatory RCP 8.5 scenarios. The outcome of the exercise customer preference,
requirements. will be included in the Zomato’s Enterprise Risk reputational damage,
Management (ERM) process. resulting in negative
financial impact.
75
•
EV-Based Deliveries- To reduce last-mile delivery
emissions, we are assisting our delivery partners
in adopting EVs. We have partnered with over
90 players in the EV ecosystem to facilitate this
transition, with the aim to achieve 100% EV
deliveries by 2030. As a result, the active EV-based
delivery partner fleet reached 27,884 vehicles by
March 2024, which is ~2x the number of active
EV-based delivery partners in March 2023.
• arge Order Fleet- Our newly launched large order
L
100% EV fleet, ensures zero tailpipe emissions
while reducing the need to deploy multiple
delivery vehicles for a single order.
• se of carbon offsets- In FY24, we maintained
U
net GHG emissions from our operations (classified
as Scope 1 & Scope 2) at zero by procuring verified
carbon removal offsets equivalent to 100% of our
Scope 1 emissions and International Renewable
Energy Certificates (IRECs) for Scope 2 emissions.
In addition, we also used advance purchases of
carbon offsets from renewable energy projects to
cover 100% of our Scope 3 emissions.
•
Support for Delivery Partners- We have expanded
our Automatic Weather Stations to 60 cities to
predict and communicate weather conditions to
our delivery partners. Additionally, Zomato has
extended its shelter project to 373 resting points
to provide shelter for delivery partners during
extreme weather. We continue to provide delivery
partners high quality apparel, protecting them
from varied weather conditions.
2. Social Risk Risk- Lack of talent • Talent Discovery- Our company employs a Negative implications-
Talent availability with structured approach in identifying exceptional Shortage of talent,
attraction and required skills, talent, leveraging campus hiring, job fairs, coupled with high
retention high attrition, and employee referrals, targeted recruitment drives, attrition, skills
inadequate human and collaborations with external organizations. obsolescence, and
capital development, • Benchmarking of employee benefits- We a lack of diversity,
along with challenges consistently review and align our employee may stifle product
in attracting, benefits and salaries with industry benchmarks, innovation, disrupt
retaining top talent, fostering an environment where growth and business operations,
and fostering development are paramount. Training sessions deplete intellectual
diversity, could and workshops are conducted to ensure capital and undermine
impede innovation, employees thrive and excel in their roles. the company’s ability
the ability to meet • Grievance redressal mechanism- Zomato to attract and retain
market demands, is committed to extend transparency in the talent. This could
and sustain growth grievance redressal mechanism for addressing impair operational
in a competitive employee concerns related to sexual efficiency and
landscape, resulting harassment, whistleblower complaints, and productivity, leading to
in business human rights issues. reputational damage
disruptions, • Diversity- Embracing diversity and inclusion and negative financial
reputation damage, is central to our ethos. Our Equal Opportunity, impact.
and limit company’s Diversity, and Inclusion Policy ensures fair
ability to achieve its treatment for all employees, with initiatives
business goals. like equal parental leave, period leaves, and
inclusive healthcare coverage. By endorsing
global standards such as the UN Women’s
Empowerment Principles and the UN Standards
of Conduct for Business Tackling Discrimination
against LGBTIQ+ People, we affirm our
dedication to fostering an inclusive workplace.
76
•
Succession Plan- We have a succession
plan in place to ensure seamless leadership
transitions, safeguarding operational continuity
and preserving legacy of excellence. There is a
culture in the company to nurture talent, wherein
senior leaders mentor high-potential employees
to cultivate future leaders. Additionally, the
company has an Awards program to recognize
exceptional individuals and teams.
• uman Rights Assessment- In FY24, an
H
external Human Rights Assessment was carried
out by an independent third party consultant
which included a comprehensive evaluation
of the organization’s policies, practices and
procedures and no material gaps were identified
during the assessment.
•
Accessibility for people with Disabilities- An
independent assessment was carried out in the
Gurugram and Bengaluru offices of the company
to evaluate whether these offices are accessible
and welcoming to individuals with disabilities,
reflecting our commitment to inclusivity and
accessibility.
3. Social Risk Risk- • Road Safety Awareness and Training- All Negative implications-
Health and Lack of adequate delivery partners have to mandatorily complete Failure to provide a
safety of health and safety a road safety awareness module at the time safe and healthy work
delivery measures for our of onboarding. Further, we conduct periodic environment to our
partners delivery partners may awareness programs and training on health & delivery partners may
lead to injuries or safety for our delivery partners in collaboration lead to work-related
casualties, business with local authorities. injuries or casualties,
disruptions, and • SOS Service- SOS service is available to provide dissatisfaction,
reputational damage, immediate support to all delivery partners in case higher attrition, and
etc. of emergencies, including accidents, vehicle hamper our ability
breakdown, etc. Further, we have expanded free to attract and retain
ambulance services to 500 cities this year to delivery partners.
provide ambulance services to delivery partners in This may also expose
case of an emergency. the company to legal
liabilities, reputational
• Insurance coverage- We prioritize the well- damage, and business
being of our delivery partners by providing disruptions, resulting
accidental and medical insurance coverage, in negative financial
inclusive of disability and death benefits for impact.
which premiums are borne by Zomato. Further,
we have added maternity benefits in the
insurance plan to cover all pregnancy-related
costs for female delivery partners.
77
• Emergency Heroes Program- Through our
Emergency Heroes Program, we equip delivery
partners with essential first aid and CPR
(Cardiopulmonary Resuscitation) skills, enabling
them to respond swiftly to emergencies in case
of accidents and extend assistance to the public,
fostering a community-driven culture of support.
Through this program we have trained 18,884
delivery partners in FY24.
• Zero Tolerance for DP Discrimination and
Harassment- We enforce a strict zero-tolerance
policy against any form of discrimination or
harassment, including sexual harassment, of
our delivery partners. This policy applies to all
stakeholders, including fellow delivery partners,
restaurant partners, customers, and Zomato
employees. Our policy aims to prevent such acts
and provide a clear procedure for addressing
such complaints.
• Others- Zomato has extended its Shelter Project
to 373 resting points for delivery partners. Further,
delivery partners are provided with high-quality
weather-appropriate apparel for rain, heat, and
cold conditions. Additionally, by March 2024,
we had installed over 650 Automatic Weather
Stations (AWS) across 60 cities to help delivery
partners respond to extreme weather, ensuring
they dress appropriately, stay hydrated, plan
breaks, and prioritize their health and safety
during challenging weather conditions.
4. Governance Risk Risk- Inadequate • Information security framework- The company Negative implications-
Data Privacy & cybersecurity has formulated an information security Ineffective
cybersecurity measures may framework to protect Zomato’s information from cybersecurity
expose the unauthorised access and external threats and has measures may lead to
organization to put in place a dedicated security team to monitor data breaches, service
various cyber the same. disruptions, and the
threats/ incidents, • ISO Certification- Zomato is committed to loss of confidential or
including adhering to global best practices for data sensitive data including
ransomware attacks, protection and has secured ISO 27001 certification PII of key stakeholders.
phishing scams, for the management of information security. This may result in loss
denial-of-service of stakeholder trust,
• Periodic assessment- Zomato prioritizes
(DoS) attacks, regulatory fines, legal
continuous improvement in the security posture
and others, which liabilities, diminished
of the company by implementing a thorough
may result in data market reputation
review mechanism. This includes independent
breaches, service and negative financial
assessments such as audits, Vulnerability
disruptions, and the implications.
Assessment and Penetration Testing (VAPT)
loss of confidential
evaluations, third-party reviews, and bug bounty
or sensitive data
programs. Through these initiatives, we stay
of key stakeholder
vigilant and proactive in safeguarding our systems
including personally
and data against evolving cyber threats.
identifiable
information (PII) • Investment in latest technologies- Zomato
which may lead to invests significantly in the latest cybersecurity
loss of stakeholder and data protection technologies, reinforcing the
trust. control environment to mitigate risks effectively.
Furthermore, we conduct regular company-wide
awareness sessions to educate and empower
all employees with the latest best practices,
fostering a culture of vigilance and resilience
across our organization.
78
5. Governance Risk Risk- Non- • Pre-Booking Model- The company has implemented Negative implications-
Management availability, a pre-booking model, allowing delivery partners to Ineffective
of key interruptions, book their preferred slots.This helps ensure their management of
availability during peak hours while ensuring they
stakeholders and service receive orders during their respective slots. This haskey stakeholders
(End users, discrepancies from helped enhance efficiency for both the company and essential to the
restaurant key stakeholders our delivery partners. business, such as
partners such as delivery • C ollaborative Partnerships- In select cities, Zomato delivery and restaurant
and delivery partners and has collaborated with third-party logistics vendors partners, may lead to
partners) restaurant partners, to ensure the availability of delivery partners business disruptions,
which are essential when needed, ensuring the continuity of business reputational damage,
operations.
for business may legal liabilities, and
lead to disruptions in • Incentives for Delivery Partners- Zomato regularly negative financial
reviews its incentive programs to attract delivery
business operations, impact.
partners and offers performance-based incentives
reputational damage to foster a supportive and rewarding environment.
and poor customer
• A
ttract new restaurant- Zomato has a dashboard
experience. in place through which restaurants can onboard
themselves on the platform. We have a dedicated
team in place which scouts for new restaurants
and assists them with the onboarding process.
Various incentive programs are extended on a
periodic basis to attract new restaurants and
support in their growth.
•
Resolution channels- Multiple channels are available
for restaurant and delivery partners to voice their
concerns, which are promptly addressed and
resolved by dedicated teams at both city and central
levels, ensuring uninterrupted operations.
• F
eedback sharing mechanisms- To enhance the
services provided by the restaurant and delivery
partners, customer feedback and grievances are
transparently shared with them, enabling continuous
improvement and superior service quality.
6 Governance Opportunity Opportunity- • Policy framework- Company has formulated a policy Positive implication-
Corporate Robust governance framework to promote ethical conduct among Effective governance
governance practices, promoting employees across all levels of the organization. and responsible
transparency, • G overnance Oversight- The company has instituted business practices
accountability, an Audit Committee and Risk Management ensure enhanced and
Committee to provide oversight and ensure effective
ethical conduct, governance practices. structured decision-
and compliance making, improved
• Compliance- The company has a compliance tool
with laws, leads to risk management,
in place, which helps in the timely identification
minimizing risks, of applicable laws and regulations, streamlines a competitive edge,
preventing financial compliance processes, aids in monitoring and reduced risk of
mismanagement, managing compliance activities, and provides a financial irregularities
enhancing investor structured reporting process to uphold regulatory or leaks, and minimized
standards, thereby facilitating better decision-making.
confidence, and risk of regulatory
fostering long-term • Whistleblower Mechanism- The company has noncompliance, etc.
implemented a whistleblower mechanism to
sustainable growth.
encourage the reporting of concerns and potential
wrongdoing, ensuring confidentiality and protection
against retaliation.
• R
isk Management- The company has implemented
an Enterprise Risk Management (ERM) framework
to identify strategic risks that may impact the
organization, enabling proactive monitoring and
mitigation efforts.
79
SECTION B – MANAGEMENT AND PROCESS DISCLOSURES
Disclosure Questions P1 P2 P3 P4 P5 P6 P7 P8 P9
Policy and Management Processes

1. a) Whether your Y Y Y Y Y Y Y Y Y
entity’s policy/
policies cover each
principle and its
core elements of the
NGRBCs. (Yes/No)
b) Has the policy been Y Y Y Y Y Y Y Y Y
approved by the
Board? (Yes/No)
c) Web Link of the Refer to the Refer to the Refer to the Refer to the Refer to the Refer to the Refer to the Refer to the Refer to the
Policies, if available below policies: below policy: below policies: below policy: below policies: below policy: below policy: below policies: below policies:
Vigil Business Human Rights Nomination and Environmental Code of Corporate Information
Company Overview
Stakeholder
Mechanism and Partner/ Policy Remuneration Policy Conduct for Social Security Policy
Management
Whistleblower Supplier Code Policy Employees Responsibility
Prevention and Code of
Policy of Conduct Policy
of Sexual Grievance Human Rights Conduct for
Code of Conduct Harassment Policy Stakeholder Employees
Redressal
for Employees Policy Management
Policy Business
and Grievance
Anti-Bribery and Health & Safety Partner/
Redressal
Anti-Corruption Policy Supplier Code
Policy
Policy of Conduct
Equal
Board Diversity Opportunity,
Policy Diversity and
Inclusion Policy
Code of Conduct
for Board of
Directors
and Senior
Management
Personnel
Related Party
Transaction
(RPT) Policy
2.
Whether the entity has Y Y Y Y Y Y Y Y Y
translated the policy
into procedures. (Yes
/ No)
80

3.
Do the enlisted Y Y Y Y Y Y N Y Y
policies extend to your
value chain partners?
(Yes/No)*
4.
Name of the national Employee CoC Business Health & Our Human Rights Environment Employee Our Information
and international is aligned with Partner/ Safety Policy is stakeholders Policy is Policy is CoC is stakeholders Security Policy
codes/certifications/ the UN Guiding Supplier CoC aligned with the have been aligned with aligned aligned have been aligns with the
labels/ standards (e.g. Principles on is aligned requirements of identified the UN Guiding with the with the identified as
requirements
Forest Stewardship Business and with the ISO 45001 as per the Principles requirements UN Guiding per the AA1000
Council, Fairtrade, Human Rights International AA1000 (UNGC) on of the Principles Stakeholder of ISO 27001
Human Rights,
Rainforest Alliance, Bill of Human Stakeholder Business, ISO 14001 on Business Engagement
Anti-Bribery and and Equal
Trustea) standards Rights, ILO Engagement Universal Standard and Human Standard
Anti-Corruption Opportunities,
(e.g. SA 8000, OHSAS, Declaration Standard Declaration of Rights
Policy is aligned Diversity and
ISO, BIS) adopted on Human Rights,
with the Ten Inclusion Policies
by your entity and Fundamental ILO Declaration
Principles of are aligned with
mapped to each Principles on Fundamental
Company Overview
the UN Global the UN Guiding

principle. and Rights at Principles
Compact Principles on
Work, OECD and Rights
Business, and
Guidelines for at Work and
Human Rights
Multinational Human Right,
and the Ten
Enterprises, Principles of
Principles of
UN Guiding the UN Global
the UN Global
Principles on Compact
Compact
Business and
Human Rights
(UNGPs)
and the Ten
Principles of
the UN Global
Compact
5.
Specific Zomato’s sustainability targets and commitments are outlined in page 28 in its Annual Report FY24.
commitments, goals
and targets set by the
entity with defined
timelines, if any.
81

6.
Performance of Performance against Zomato’s sustainability targets and commitments has been discussed in pages 29 to 33 of the Annual Report FY24.
the entity against
the specific
commitments, goals
and targets along-with
reasons in case the
same are not met.
Governance Leadership and Oversight
7. Statement by director responsible for the business responsibility report, highlighting ESG related challenges, targets and achievements (listed entity has flexibility regarding
the placement of this disclosure)
FY24 was an eventful year in terms of ESG at Zomato.
In terms of disclosures and ratings, we made dramatic strides in our ESG ratings in FY24 reflecting our commitment to transparency and openness to engaging with diverse
groups of stakeholders to address ESG related concerns.
Sustainalytics, a global leader in ESG data and ratings reclassified Zomato Limited as LOW RISK rating in February ‘24 from MEDIUM RISK in FY23 and our current score stands at
16.9. We are proud to share that we now have the best ESG rating amongst major global food delivery companies across the world.
Company Overview
Earlier in the year, Zomato achieved a S&P Global ESG Score of 41, an increase of 168% from last year’s score of 15, putting us in the 96th percentile of our global peer group of 175
companies. We also continued to maintain our AA ‘ESG Leader’ rating on MSCI’s ESG Rating platform in FY24 and became members of the FTSE4Good Global Index since June 2023.
In terms of programs we doubled down - setting new goals and strengthening programs to meet existing goals in each of our 8 chosen thematic areas. These themes, aligned
with the UN Sustainable Development Goals, include - Climate Conscious Deliveries; Waste Free World; Zero Hunger; Inclusive Growth; Diversity, Equity and Inclusion; Health,
Safety and Wellbeing for All; Customer Centricity and Governance.
- Deepinder Goyal, Managing Director & Chief Executive Officer, Zomato Limited
For more details on sustainability related challenges, targets and achievements, please refer to pages 29 to 33 of the Management Discussions & Analysis section of the Annual
Report
8. Details of the highest Deepinder Goyal, Managing Director & Chief Executive Officer, Zomato Limited
authority responsible
for implementation
and oversight
of the Business
Responsibility policy
(ies).
9. Does the entity have a Yes.

specified Committee The CSR committee which is a sub-committee of Zomato’s Board of Directors has oversight of ESG matters including sustainability and climate. The
of the Board/ Director CSR committee is represented by the below members:
responsible for - Deepinder Goyal, Managing Director & Chief Executive Officer (Chairperson)
decision making on - Namita Gupta, Non Executive and Independent Director
sustainability related
- Aparna Popat Ved, Non Executive and Independent Director
issues? (Yes / No). If
yes, provide details. - Gunjan Tilak Raj Soni, Non Executive and Independent Director
The committee meets every 6 months to review and guide Zomato’s ESG strategy and monitor plan of action and progress made towards its 2030 ESG
targets which includes targets related to climate.
82
At the management level, the CEO holds the highest responsibility and oversight on matters related to ESG including climate. The CEO is supported by
an ESG team comprising the Chief Financial Officer, Chief Sustainability Officer, Head - Governance Risk Compliance and Head - Human Resources.
The ESG team reports achievements and progress to the CSR committee.
Disclosure Questions
Policy and management processes
10. Details of Review of NGRBCs by the Company:
Subject for Review Indicate whether review was undertaken by Director / Committee of the Board/ Any other Committee Frequency
(Annually/ Half yearly/ Quarterly/ Any
other – please specify)
P1 P2 P3 P4 P5 P6 P7 P8 P9 For P1, P2, P3, P4, P5, P6, P7, P8 and P9
Performance Commit- - Commit- Commit- Commit- Committee Director Commit- Any other Annually
against above tee of the tee of the tee of the tee of the of the Board tee of the committee
policies and follow Board Board Board Board Board
up action
Compliance Commit- - Commit- Commit- Commit- Committee Director Commit- Any other Quarterly
with statutory tee of the tee of the tee of the tee of the of the Board tee of the committee
requirements of Board Board Board Board Board
relevance to the
principles, and,
rectification of any
non-compliances
Company Overview
11. Has the entity P1 P2 P3 P4 P5 P6 P7 P8 P9

carried out Y N* Y - We have N Y** Y - We have N Y Y - We have
independent received received ISO received ISO
assessment/ ISO 45001 - 14001 - En- 27001 for our
evaluation of Occupation- vironmental Information
the working of al Health & Manage- Security
its policies by an Safety man- ment Sys- Management
external agency? agement tems for our System from
(Yes/No). If yes, systems for Gurugram TUV SUD South
provide the name of our Guru- and Bengal- Asia Pvt Ltd.
the agency. gram and uru office which is valid
Bengaluru for 3 years until
office January 2026.
*Our value chain partners include suppliers/ vendors and delivery partners. All the policies extending to value chain partners may not be relevant for delivery partners who are governed
by the ‘Delivery Partner Terms and Conditions’.
**In FY24, an external third party consultant conducted human rights risk assessment for operations of Zomato Limited, scope covering employees and workers.
12. If answer to question (1) above is “No” i.e. not all Principles are covered by a policy, reasons to be stated:
Questions P1 P2 P3 P4 P5 P6 P7 P8 P9
The entity does not consider the Principles material to its business (Yes/No)
The entity is not at a stage where it is in a position to formulate and implement the policies on specified principles (Yes/No)
This question is not applicable since the answer to
The entity does not have the financial or/human and technical resources available for the task (Yes/No)
question (1) is yes.
It is planned to be done in the next financial year (Yes/No)
Any other reason (please specify)
83
SECTION C – PRINCIPLE WISE PERFORMANCE DISCLOSURE
Principle 1 – Businesses should conduct and govern themselves with integrity, and in a manner that is
ethical, transparent, and accountable
Essential Indicators
1. Percentage coverage by training and awareness programmes on any of the principles during
the financial year:
Segment Total number of Topics/ principles covered % of persons in respective

training and awareness under the training and its category covered by the
programmes held impact awareness programmes
Board of 1 BRSR principles 100%

Directors
Key Managerial 3 BRSR principles and 100%
Personnel Human Rights, Security and
Prevention of Insider Trading
Employees 4 BRSR principles and Human 92.18%
other than BoDs Rights, Security, POSH and
and KMPs* Prevention of Insider Trading
Workers 1 BRSR principles, Human 95.89%
Rights and Health & Safety
*In FY24, Zomato’s coverage of employee’s trainings in the above question consists of both permanent and other than permanent
employees.
2. Details of fines/ penalties/ punishment/ award/ compounding fees/ settlement amount paid in
proceedings (by the entity or by directors/ KMPs) with regulators/ law enforcement agencies/
judicial institutions, in the financial year, in the following format (Note: the entity shall make
disclosures on the basis of materiality as specified in Regulation 30 of SEBI (Listing Obligations
and Disclosure Obligations) Regulations, 2015 and as disclosed on the entity’s website):
Monetary
NGRBC Name of the regulatory/ Amount Brief Has an appeal

Principle enforcement agency/ (in INR) of the been preferred?
judicial institutions Case (Yes/No)
Penalty/ Fine
Settlement None
Compounding fee
Non-Monetary
NGRBC Name of the regulatory/ Brief of the Has an appeal

Principle enforcement agency/ Case been preferred?
judicial institutions (Yes/No)
Imprisonment
None
Punishment
84
3. Of the instances disclosed in Question 2 above, details of the Appeal/ Revision are preferred in
cases where monetary or non-monetary action has been appealed.
Case Details Name of the regulatory/ enforcement agencies/ judicial institutions
Not applicable
4. Does the entity have an anti-corruption or anti-bribery policy? If yes, provide details in brief and
if available, provide a web link to the policy.
Yes. We have an Anti-Corruption and Anti-Bribery Policy policy that demonstrates our stance on bribery
and corruption practices and its consequences in case of non-compliance. Our policy covers the activities
which are in the ambit of bribery or corruption and extends its applicability to employees, directors,
stakeholders and third-parties.
The policy covers mechanisms to report and resolve concerns related to bribery or corruption through
reporting at informant@zomato.com. In addition, training on anti-corruption and anti-bribery is mandatory
for all employees at the time of induction.
The Anti-Corruption and Anti-Bribery Policy is available on our website: Link to the policy
5. Number of Directors/KMPs/employees/workers against whom disciplinary action was taken by

any law enforcement agency for the charges of bribery/ corruption.
FY 2023-24 FY 2022-23
Directors 0 0
KMPs 0 0
Employees* 0 0
Workers* 0 0
*The Permanent category of employees and workers have been considered in the above questions.
6. Details of complaints with regard to conflict of interest:
FY 2023-24 FY 2022-23
Number Remarks Number Remarks
Number of complaints received in relation to issues of 0 - 0 -

Conflict of Interest of the Directors
Number of complaints received in relation to issues of 0 - 0 -
Conflict of Interest of the KMPs
7. Provide details of any corrective action taken or underway on issues related to fines/penalties/
action taken by regulators/ law enforcement agencies/ judicial institutions, on cases of corruption
and conflicts of interest.
Not applicable- No such cases have been reported.
8. Number of days of accounts payables ((Accounts payable *365) / Cost of goods/services procured)
in the following format:
FY 2023-24 FY 2022-23
Number of days of accounts payables 46.10 42.49

*The data reported is as on 31 March 2024.
st
85
9. Open-ness of business - Provide details of concentration of purchases and sales with trading
houses, dealers, and related parties along-with loans and advances & investments, with related
parties, in the following format:
Parameter Metrics FY 2023-24 FY 2022-23
Concentration of a. Purchases from trading houses as % - -
purchases of total purchases
b. Number of trading houses where - -
purchases are made from
c. Purchases from top 10 trading - -
houses as % of total purchases from
trading houses
Concentration of a. Sales to dealers / distributors as % of - -
Sales total sales
b. Number of dealers / distributors to - -
whom sales are made
c. Sales to top 10 dealers / distributors - -
as % of total sales to dealers /
distributors
Share of RPTs in a. Purchases (Purchases with related 0.33% 0.70%
parties / Total Purchases)
b. Sales (Sales to related parties / Total 0.53% 0.36%
Sales)
c. Loans & advances (Loans & advances 0.00% 100%
given to related parties / Total loans
& advances)
d. Investments (Investments in related 41.71% 51.85%
parties / Total Investments made)
*The data reported is as on 31st March 2024.
Note: Zomato is a technology platform services provider and does not deal with trading houses and dealers.
Leadership Indicators
2. Does the entity have processes in place to avoid/ manage conflict of interests involving members
of the Board? (Yes/No) If Yes, provide details of the same.
Yes. We have a policy on ‘Code of Conduct for the Board of Directors and Senior Management Personnel’.
Our policy covers the activities which are in the ambit of processes in place to avoid/ manage conflict of
interests involving members of the Board.
Under Section 4 ‘Code for Directors and SMP’, point number (j) mandates that Directors and SMPs must
‘Disclose potential conflicts of interest that they may have regarding any matter, if any, at the Board
Meetings and any Director having such conflict of interest will abstain himself/herself from discussions
and voting on the concerned matter’.
All the members of the Board are required to confirm on an annual basis whether they are complying to
this code including declaration on Conflict of Interest, additionally, we ensure that all necessary approvals,
as mandated by the statute and the Company’s policies, are secured before engaging in transactions with
any companies in which any Board member may have a conflict.
Code of Conduct for the Board of Directors and Senior Management Personnel is available on our website-
Link to the policy
86
Principle 2 – Businesses should provide goods and services in a manner that is sustainable and safe
1. Percentage of R&D and capital expenditure (CAPEX) investments in specific technologies to
improve the environmental and social impacts of product and processes to total R&D and capex
investments made by the entity, respectively.
Current Previous Details of improvements in environmental

Financial Year Financial Year and social impacts
R&D - - Not applicable.

Capex - - In our financial statements, CAPEX includes fitouts and
equipment for our offices, laptops, etc.
We try to consciously choose environment-friendly
technologies, including energy efficient air conditioning
systems, LED lighting fixtures, sensor-based taps,
energy-efficient TVs and laptops, among others.
2. a. Does the entity have procedures in place for sustainable sourcing? (Yes/No)
b. If yes, what percentage of inputs were sourced sustainably?
Yes. Zomato has taken several steps to put procedures in place to facilitate sustainable sourcing.
1) Zomato has a Business Partner/ Supplier Code of Conduct that sets out fundamental values and
integrity levels of business conduct for business partners/ suppliers. The Business Partner/
Supplier Code of Conduct covers various Environment, Social and Governance aspects, such
as labour and human rights, anti-bribery, anti-corruption, data protection, data privacy and
compliance with all applicable environmental laws and regulations.
2) As part of its commitment to achieving Net Zero emissions across the food ordering and delivery
value chain by 2033, Zomato has already initiated a sustainable sourcing initiative for one of its
largest categories of purchase - Logistics services. Under this initiative, Zomato ties up with
leasing and delivery companies that offer electric vehicles on rent to delivery partners or pays
for deliveries undertaken by EV-based delivery services suppliers.
3) Zomato is a member of WeConnect International, a global initiative that helps women business
owners compete in the global marketplace by becoming suppliers to large firms. The partnership
enables Zomato to discover women-owned businesses to meet its procurement needs.
4) In March 2024, Zomato completed a preliminary value chain analysis with third party experts to
identify the scope of sustainable sourcing based on the nature of purchases made by the company
to provide its platform services.
The company intends to use the analysis to inform the creation of a formal sustainable sourcing
policy. The company will focus on categories that hold the greatest potential for sustainable sourcing
based on availability of sustainable suppliers, environmental and social impact along with commercial
considerations.
87
3. Describe the processes in place to safely reclaim your products for reusing, recycling, and
disposing at the end of life, for (a) Plastics (including packaging) (b) E-waste (c) Hazardous
waste and (d) other waste.
Waste type Waste management procedure in place
Plastic (including packaging)

E-waste
Not applicable*
Hazardous waste
Other waste
*Zomato is a technology platform services provider and does not produce any physical products.
4. Whether Extended Producer Responsibility (EPR) is applicable to the entity’s activities (Yes / No).
If yes, whether the waste collection plan is in line with the Extended Producer Responsibility
(EPR) plan submitted to Pollution Control Boards? If not, provide steps taken to address the
same.
Not applicable.
Principle 3 – Businesses should respect and promote the well-being of all employees, including those in
their value chains
Essential Indicator
1. a. Details of measures for the well-being of employees:
Category % of employees covered by
Total Health Accident Maternity Paternity Day care

(A) insurance insurance benefits benefits facilities*
Number % Number % Number % Number % Number %

(B) (B/A) (C) (C/A) (D) (D/A) (E) (E/A) (F) (F/A)
Permanent employees
Male 3058 3058 100% 3058 100% NA NA 3058 100% 2912 95.23%
Female 929 929 100% 929 100% 929 100% NA NA 896 96.45%
Others 1 1 100% 1 100% - 100%** - 100%** 1 100%
Total 3988 3988 100% 3988 100% 929 23.29%*** 3058 76.68%*** 3809 95.51%
Other than Permanent employees
Male 368 368 100% 368 100% NA NA 368 100% 354 96.20%
Female 84 84 100% 84 100% 84 100% NA NA 81 96.43%
Others 0 0 0% 0 0% 0 0% 0 0% 0 0%
Total 452 452 100% 452 100% 84 18.58%*** 368 81.42%*** 435 96.24%
*The above daycare coverage is less than 100% since some employees are based out of offices with less than 50 employees / working
out of coworking spaces / not eligible since they are located in Dubai or Abu Dhabi. Coverage of daycare facilities has been accounted
based on the below:
• In-house daycare facility available at our Gurugram and Bengaluru Corporate office.
• Partnership with IPSAA: provides access to employees to daycare facilities (at a discounted rate) near our office premises, across
various locations.
• In addition, as part of our parental leave policy, we also provide a list of daycare facilities to our employees.
**One of our permanent employees who falls under the ‘Others’ category of gender is included in the total headcount count above. This
employee is covered by our gender neutral parental leave policy.
***All our employees are covered by our gender neutral parental leave policy, the total % of maternity and paternity benefits only denotes
the gender split of the employee base.
88
b. Details of measures for the well-being of workers:
Category % of workers covered by
Total Health Accident Maternity Paternity Day care

(A) insurance* insurance benefits benefits facilities
Number % Number % Number % Number % Number %

(B) (B/A) (C) (C/A) (D) (D/A) (E) (E/A) (F) (F/A)
Permanent workers
Male 0 0 0% 0 0% 0 0% 0 0% 0 0%
Female 0 0 0% 0 0% 0 0% 0 0% 0 0%
Total 0 0 0% 0 0% 0 0% 0 0% 0 0%
Other than Permanent workers
Male- Contract 263 263 100% 257 97.72% 0 0% 0 0% - -
Workers
Female- 53 53 100% 49 92.45% 53 100% 0 0% - -
Contract
Workers
Total 316 316 100% 306 96.84% 53 16.77%** 0 0% - -
*The number for Health Insurance has been considered by combining ESI and Medical Insurance as every worker is covered under either
of these schemes.
**All our other than permanent female workers are covered by maternity benefits, the total % of maternity benefits only denotes the
gender split of workers.
c. Spending on measures towards well-being of employees and workers (including permanent and other
than permanent) in the following format:
FY 2023-24 FY 2022-23
Cost incurred on well-being measures as a % of total revenue of the 0.27% 0.32%

company*
*The aforementioned spending includes health coverage premiums, accidental insurance premiums, contractual workers’
insurance, paternity and maternity benefits, physical & mental wellness team salaries and costs, daycare facility, and medical
room (doctor, paramedics, equipment, and consumables) expenses.
2. Details of retirement benefits, for Current FY and Previous FY*:

Benefits FY 2023-24 FY 2022-23
No. of No. of Deducted and No. of No. of Deducted and

employees workers deposited employees workers deposited
covered as covered as with the covered as covered as with the
a % of total a % of total authority a % of total a % of total authority
employees * workers* (Y/N/N.A.) employees workers (Y/N/N.A.)
PF** 99.01% 99.68% Y 98.44% - Y

Gratuity 100% 100% Not applicable 100% - Not applicable
ESI*** 100% 100% Y 100% - Y
Others – NPS**** 100% - - - - -
*In FY24, Zomato’s coverage of the above disclosure consists of both permanent and other than permanent employees.
**The above percentage represents data for eligible employees and workers as at the end of the financial year. All eligible employees
get PF benefits. However, the reported data is less than 100% since some employees have voluntarily opted out of PF contribution.
For workers, the reported data is less than 100% since one worker has voluntarily opted out of PF contribution.
***The above percentage represents data for eligible employees and workers at the end of the financial year. Out of the total
headcount, 66 employees and 247 workers as at 31 March 2024 and 12 employees as at 31 March 2023 were eligible for ESI.
****The above percentage represents data for eligible employees at the end of the financial year. Out of the total headcount, 66
employees had opted for NPS as on 31st March 2024.
89
3. Accessibility of workplaces
Are the premises / offices of the entity accessible to differently abled employees and workers, as per
the requirements of the Rights of Persons with Disabilities Act, 2016? If not, whether any steps are
being taken by the entity in this regard.
We are dedicated to fulfilling the requirements of the Rights of Persons with Disabilities Act, 2016 and
actively supporting individuals with disabilities. Our headquarters and largest office based in Gurugram,
with over 2000 Zomato employees, underwent an independent external accessibility audit within the
reporting year.
We have implemented various measures such as ramps, disability-friendly elevators, all-gender accessible
toilets, and accessible parking at our Gurugram office. Additionally, we are addressing recommendations
from the audit to further enhance accessibility.
4. Does the entity have an equal opportunity policy as per the Rights of Persons with Disabilities
Act, 2016? If so, provide a web link to the policy.
Yes. Zomato has an Equal Opportunity, Diversity and Inclusion Policy aligned with the principles of Rights
Persons with Disabilities Act, 2016. (Link to the policy)
5. Return to work and Retention rates of permanent employees and workers that took parental
leave in FY24:
Gender Permanent employees Permanent workers
Return to Retention Return to Retention

work rate rate work rate rate
Male 99.08% 68.60% - -
Female 95.00% 74.19% - -
Others - - - -
Total 97.99% 70.09% - -
6. Is there a mechanism available to receive and redress grievances for the following categories
of employees and workers? If yes, give details of the mechanism in brief.
Yes/ No (If Yes, then give details of the mechanism in brief)
Permanent workers Not applicable.
Other than permanent workers Yes. Zomato has established a grievance redressal mechanism
for its workforce to receive and address their concerns.
Permanent employees
Zomato has a dedicated email channel accessible for all to
Other than permanent employees raise any complaints/ issues. Complaints can be filed by writing
to the People Assist Team at peopleassist@zomato.com or the
Internal Complaints Committee at speakup@zomato.com.
(Grievance Management Policy,
Equal Opportunity, Diversity and Inclusion Policy)
90
7. Membership of employees and workers in association(s) or Unions recognized by the listed

entity:
Category FY 2023-24 FY 2022-23
Total No. of employees/ % Total No. of employees/ %

employees/ workers in the (B/A) employees/ workers in the (D/C)
workers respective workers respective
in the category, who in the category, who
respective are part of the respective are part of the
category association(s) or category association(s) or
(A) Union (B) (C) Union (D)
Total 3,988 - - 3,440 - -

permanent
employees
Male 3,058 - - 2,685 - -
Female 929 - - 754 - -
Other 1 - - 1 - -
Total 0 - - 0 - -
permanent
workers
Male 0 - - 0 - -
Female 0 - - 0 - -
Other 0 - - 0 - -
8. Details of training given to employees and workers:
Total On health and On skill Total On health and On skill

(A) safety measures upgradation (D) safety measures upgradation
No. (B) % (B/A) No.(C) % (C/A) No. (E) % (E / D) No. (F) % (F/D)
Employees*
Male 3,058 2,597 84.92% 2,574 84.17% 2,685 2,481 92.40% 2,182 81.27%
Female 929 762 82.02% 707 76.10% 754 679 90.05% 620 82.23%
Others 1 1 100% 1 100% 1 1 100% 1 100%
Total 3,988 3,360 84.25% 3,282 82.30% 3,440 3,161 91.89% 2,803 81.48%
Workers
Male 263 250 95.06% - - - - - - -
Female 53 53 100% - - - - - - -
Others 0 0 - - - - - - - -
Total 316 303 95.89% - - - - - - -
*In FY24, Zomato’s coverage of the above disclosure consists of Health & Safety and Skill upgradation trainings provided to permanent
employees.
91
9. Details of performance and career development reviews of employees and workers:
Total (A) No. (B) % (B / A) Total (C) No. (D) % (D / C)
Employees
Male 3,058 3,058 100% 2,685 2,685 100%
Female 929 929 100% 754 754 100%
Others 1 1 100% 1 1 100%
Total 3,988 3,988 100% 3,440 3,440 100%
Workers
Male - - - - - -
Female - - - - - -
Others - - - - - -
Total - - - - - -
10. Health and safety management system:

a. Whether an occupational health and safety management system has been implemented by the
entity? (Yes/ No). If yes, the coverage of such a system?
Yes. At Zomato, the safety and well-being of our workforce and stakeholders are paramount to us.
We are committed to fostering a safe and healthy workplace and minimising the risks of accidents,
injuries, and health hazards. Our Health & Safety Policy includes nine pillars that outline how we
effectively manage critical OH&S aspects. Additionally, we hold the ISO 45001:2018 certification for
our Occupational Health and Safety (OH&S) Management System.
We have a dedicated Environment, Health, and Safety (EHS) team committed to upholding safety
standards. Our offices are equipped with essential safety systems such as fire detection, fire fighting
mechanisms, public address systems, safety signage etc., to ensure the safety of employees and
workers. We have integrated action plans to respond to emergencies. In the reporting year, we
introduced a Safety Reporting System (SRS), enabling employees to actively engage and report OH&S
incidents and hazards. We have procedures in place to investigate work-related injuries and incidents
reported through SRS.
Furthermore, we have implemented widespread health and safety awareness initiatives like safety
communications, safety training programs on fire safety, first-aid, PPE (Personal Protective
Equipment), chemical (used for cleaning) handling, etc. Our workplace & facilities team diligently
oversees the adherence to safety protocols, regularly inspecting and ensuring the functionality of
safety systems.
b. What are the processes used to identify work-related hazards and assess risks on a routine and
non-routine basis by the entity?
Risk identification and mitigation is a pivotal aspect outlined within our Health and Safety Policy, and
we adopt a proactive stance towards identifying, assessing, and mitigating hazards in all our routine
and non-routine processes. As an integral component of our ISO 45001:2018-certified, Occupational
Health and Safety Management System, we have documented procedures for evaluating work-related
hazards and risks across all activities conducted at our offices. Employees and workers can also
report work-related hazards through the Safety Reporting System (SRS).
92
We have conducted Hazard Identification and Risk Assessment (HIRA) and subsequently prioritized
the integration of action plans with quantified targets to mitigate the identified hazards and risks
effectively. We regularly conduct internal inspections to identify health and safety risks within the
organization.
c. Whether you have processes for workers to report the work-related hazards and to remove
themselves from such risks. (Y /N)
Yes, we have established a process for workers to report work-related hazards and to safeguard them
from such risks. The company has implemented a Safety Reporting System (SRS) for reporting hazards/
observations. Our EHS team addresses all hazards/observations reported in collaboration with the
workplace and facilities team to ensure required corrective measures are taken. Strengthening these
elements is imperative for workplace safety, ensuring our commitment to protecting the welfare of
our workers.
d. Do the employees/ workers of the entity have access to non-occupational medical and healthcare
services? (Yes/ No)
Yes. Zomato provides its employees with non-occupational medical and healthcare benefits. These
include comprehensive group medical insurance that extends to the employee, spouse/partner, and up
to 2 children. The medical insurance has progressive coverages such as gender reassignment surgery,
treatment for autism and psychiatric ailments. We also offer free online medical consultations,
nutrition counselling, psychological counselling discounted diagnostic tests, and discounts on
medicines.
Over and above, all employees are covered under the group accidental insurance. We also provide
medical insurance or ESI benefits to our other than permanent workers basis applicability.
11. Details of safety related incidents, in the following format:
Safety incident/number Category* FY 2023-24 FY 2022-23
Lost Time Injury Frequency Rate (LTIFR) (per Employees 0.26 0

one-million-person hour worked)
Workers 0 Not applicable
Total recordable work-related injuries Employees 2 0
No. of fatalities Employees 0 0
High consequence work-related injury or ill- Employees 0 0
health (excluding fatalities)
*Including in the contract workforce
12. Describe the measures taken by the entity to ensure a safe and healthy workplace.
At Zomato, we prioritize the safety and welfare of our employees and their overall well-being. We have
implemented comprehensive policies and protocols aimed at fostering an incident-free, vibrant and
secure workplace environment. We have dedicated teams which are responsible for monitoring safety
performance and implementing necessary measures to enhance safety protocols. The following outlines
several key initiatives designed to promote a culture of health, safety and wellbeing of employees within
our organization:
93
1. Implemented an Occupational Health and Safety Management System (ISO 45001:2018).
2. Medical room in Corporate office with a nurse available on all days and doctor available three days a
week.
3. Our offices are equipped with fire detection, fire fighting equipment and first-aid facilities to ensure
prompt response and mitigation during incidents.
4. Implemented measures for preparing and responding to fire emergencies and conducting regular
mock drills to assess our readiness and improve our response capabilities.
5. Promoting awareness about healthy posture and ergonomics.
6. Ensuring the use of Personal Protective Equipment by the workforce wherever needed.
7. In the event of serious injuries, investigations are conducted to prevent recurrence. Corrective and
Preventive Actions (CAPA) are diligently implemented following investigations.
8. Group health insurance for employees and dependents.
9. Group personal accident insurance.
10. Discounts on diagnostic services.
11. Free telehealth and medical consultation for employees and dependents.
12. Discounted dental consultations and free vision checkups.
13. Wellness leaves (physical and mental) and period leaves.
14. Mental wellness expert counselling by the in-house team of trained psychologist & counsellors.
15. Gym facilities in corporate office.
16. Nutrition counselling.
17. Regular campaigns and training are conducted on health and safety topics such as First Aid, CPR,
firefighting, and evacuation procedures.
13. Number of complaints on the following made by employees and workers:
FY 2023-24 FY 2022-23
Filed Pending Remarks Filed Pending Remarks

during the resolution at during the resolution at
year the end of year year the end of year
Working 0 0 - - - Not
conditions* recorded
Health & safety* 5 0 - - - Not
recorded
*On September 27, 2023, we introduced a QR code system for our workforce to report complaints at all locations except our Gurugram
office, where internal communication channels are used to raise complaints. On January 16, 2024, we also introduced a dedicated
Safety Reporting System (SRS) for all employees to report Health & Safety issues.
94
14. Assessments for the year:
% of your plants and offices that were assessed

(by entity or statutory authorities or third parties)
Health and safety practices 100%

Working conditions An independent human rights assessment which includes health
& safety practices has been conducted for all our office locations.
Additionally, 2 out of 3 offices that are directly leased by the Company
and operational on 31st March 2024, have been assessed and are
compliant as per ISO 45001:2018. (Certificate received in April 2024)
15. Provide details of any corrective action taken or underway to address safety-related incidents
(if any) and on significant risks/concerns arising from assessments of health & safety practices
and working conditions.
In FY24, work-related injuries reported (accident numbers mentioned in principle 3, question no. 11) in the
period are primarily attributed to slip, trip, and fall incidents. Thorough investigations were conducted for
lost time incidents, and appropriate actions were taken to address the underlying causes. Additionally,
comprehensive risk assessments were performed for all activities, revealing no significant risks requiring
immediate attention or mitigation measures. An independent Human Rights assessment has also been
conducted for all our office locations and no major findings were reported during this assessment.
1. Does the entity extend any life insurance or any compensatory package in the event of death of
(A) Employees (Y/N) (B) Workers (Y/N).
Employees: Yes, all employees are covered by a comprehensive group accident insurance policy that
•
provides compensation to their families in the unfortunate event of the death of an employee due to
an accident.
The company also provides a generous ex gratia payment to the families of all our deceased employees.
This payment amounts to the employee’s annual salary and continues for a duration of 10 years from
the date of the employee’s passing.
• Workers: Not applicable.
Principle 4 – Businesses should respect the interests of and be responsive to all its stakeholders
1. Describe the processes for identifying key stakeholder groups of the entity.
In our Stakeholder and grievance management policy, which is in line with the AA1000 Stakeholder
Engagement Standard, we have analysed our internal and external environment to identify stakeholders
including individuals, groups of individuals or organisations:
• Who are directly or indirectly dependent on our activities, products or services and associated
performance, whom we are dependent on in order to operate effectively
• To whom Zomato has, or in the future may have, legal, commercial, operational, or ethical/moral
responsibilities
• Who can influence or have impact on Zomato’s strategic or operational decision-making
95
Based on the above definition, we have identified our key stakeholders as following-
• Customers (end-users and restaurant partners)
• Employees
• Vendors
• Delivery Partners
• Shareholders
• Regulatory and government bodies
• Community
(Link to the policy)
2. List stakeholder groups identified as key for your entity and the frequency of engagement with
each stakeholder group.
Stakeholder Whether Channels of communication Frequency of Purpose and scope of
group identified as (Email, SMS, Newspaper, engagement engagement including key
vulnerable & Pamphlets, Advertisement, (Annually/ half- topics and concerns raised
marginalised Community meetings, Notice yearly/ quarterly during such engagement
group board, Website), Other / others – please
(Yes/No) specify)
Employees No • Employee newsletters Ongoing/ • Employee benefits
• Intranet portal Continuous • Awareness about Company
• Employee resource groups policies
• Posters, TV Screens • Employee recognition
• Internal communication channel • Learning and development
• Employee town halls • Health, safety and well-being
• Employee surveys • Performance review and
• Performance reviews career development
• Dedicated email
Customers No • Zomato app and website Ongoing/ • Customer feedback
(end-users) • Customer service support Continuous • Grievance redressal
• Customer satisfaction survey • Resolution of their queries
• Social media channels • Advertising
• Email communication
Customers No • Zomato restaurant partner Ongoing/ • Onboarding support
(Restaurant application Continuous • Resolving queries
Partners) • Zomato dashboard • Grievance redressal
• Dedicated email • Discussions on ensuring safe
• Account managers deliveries
• Social media channels • Enhancing user experience
• Capturing feedback
• Creating and updating menu,
pricing, promotions, etc.
• Understanding and
activating growth levers -
e.g. advertising
Vendors No • Face-to-face and electronic or Ongoing/ • Resolving queries
telephonic correspondence Continuous • Assessing performance
• Sharing requests and
requirements
96
Stakeholder Whether Channels of communication Frequency of Purpose and scope of

group identified as (Email, SMS, Newspaper, engagement engagement including key
vulnerable & Pamphlets, Advertisement, (Annually/ half- topics and concerns raised
marginalised Community meetings, Notice yearly/ quarterly during such engagement
group board, Website), Other / others – please
(Yes/No) specify)
Delivery No* • Zomato Delivery Partner App Ongoing/ • Onboarding support
Partners (DPs) • Dedicated email IDs Continuous • Resolving queries
• Hotline number for SOS calls • Grievance redressal
from delivery partners • Safety and well-being
• Regional Zomato Team Leader • Understanding their
(TL) concerns to bring about
changes
• Earnings and payout fee
Shareholders No • Shareholder/ investor meetings Ongoing/ • Queries on financial and
• Shareholder’s letters and Continuous operational performance of
earnings calls the company
• Transparent disclosures of
material events
Community/ Yes* • Zomato has a project to Based on schedule • Enabling access to livelihood
Society empower Persons with for the said activity
Disabilities by providing
livelihood opportunities. In
connection with this project we
conduct regular meetings and
exchange emails with NGOs and
others representing Persons
with Disabilities
• Independent impact assessment
studies are also a channel of
communication with community
members impacted by our
project
Government No • Public policy advocacy On an as needed • Policy advocacy with
and regulators • Formal dialogues basis concerned authorities
• Deliberations and inputs
on regulations and policies
that have bearing on our
operations and businesses
*Selected members of our Delivery Partner community and selected members of society fall under the definition of vulnerable and
marginalised such as Persons with Disabilities and women from economically weaker sections of society.
1. Provide the processes for consultation between stakeholders and the board on economic,
environmental, and social topics or if consultation is delegated, how is feedback from such
consultations provided to the board.
We regularly engage with our key stakeholders (end-users, restaurant partners and delivery partners)
as outlined in our Stakeholder Engagement and Grievance Management Policy. Through the channels
described in the policy, the functional teams in Zomato receive feedback from various groups of
stakeholders on our initiatives and operations. This feedback is analysed and discussed with relevant
leadership teams to identify action areas. Select environmental and social actions are discussed with the
CSR committee of the board based on their overall importance and these meetings are minuted. The CSR
committee at Zomato also undertakes responsibility for climate and sustainability related matters.
(Link to the policy)
97
2. Whether stakeholder consultation is used to support the identification and management of

environmental, and social topics (Yes / No). If so, provide details of instances as to how the
inputs received from stakeholders on these topics were incorporated into the policies and
activities of the entity.
Yes. Stakeholder consultation was an integral part of the materiality assessment process which was
carried out by Zomato as per the AA 1000 Stakeholder Engagement Standard in FY22 with the help of an
independent external organisation to identify ESG topics material to the firm. Additionally, we regularly
engage with key stakeholders via various channels to make improvements and design innovative offerings
to meet their expectations.
Two examples of how Zomato has used inputs received from stakeholders on material sustainability issues
to design new initiatives and offerings-
• I n the reporting year, Zomato introduced ‘Emergency First Responder Training’ for our Delivery Partners
that included First Aid training and Cardiopulmonary Resuscitation (CPR). This initiative was designed
on the basis of feedback received from 2 sets of stakeholders. 1) Delivery partners, who themselves
are often the first responders who assist other delivery partners and road-users in times of roadside
emergencies, shared their interest in such a program, 2) NGOs who represent communities have
approached Zomato suggesting that such a program would be beneficial for society at large since
delivery partners are well placed to help out in case of road-related accidents and emergencies. As on
March 31st 2024, 18,884 delivery partners had received in-person Emergency First Responder Training.
• second example of launching a new initiative based on stakeholder feedback is the Plastic-Free
A
Orders labelling program for restaurants. Customers appreciate restaurants for adopting sustainable
packaging. However, in our current order flow, they do not know in advance of placing their order,
the nature of the packaging the restaurant will use. To provide customers with information on which
restaurants have adopted alternatives to plastic and recognize restaurants for taking this eco-friendly
measure, we launched the Plastic-Free Orders banner for selected restaurant chains and outlets.
Till March 31st, 2024, a total of 16 restaurant brands had qualified as sending orders in plastic-free
packaging (barring certain exemptions for barrier coating, pre-packed beverages, and cello tape). A
total of 5.4 million orders were delivered from restaurants that had earned the PFO label by March 31st.
3. Provide details of instances of engagement with, and actions are taken to, address the concerns
of vulnerable/ marginalised stakeholder groups.
Zomato has taken multiple actions to address the concerns of vulnerable/marginalised stakeholders
groups both within and outside of its value chain.
Actions taken to address concerns of vulnerable/marginalised groups within its value chain:
• Zomato has launched a program called Zomato Equitable Action for Livelihood (Project ZEAL)
to address the lack of livelihood options for Persons with Disabilities. Under Project ZEAL, we
supported the onboarding of more than 400 persons with disabilities (PwDs) as delivery partners
in FY24. These partners have undertaken 6,74,631 deliveries and have travelled over 15 lakhs kms
on modified motorized wheelchairs. In addition to waiving the onboarding fees, we have sensitised
fleet coaches and assigned a project manager to address their concerns and challenges. This project
achieved recognition from the Bombay Chamber of Commerce and Industry as the ‘Best D&I initiative’
in November 2023. This award celebrates organisations that have implemented transformative
initiatives targeting policies and systems to support underrepresented diversity groups.
• To support the needs of new parents among delivery partners, Zomato launched maternity insurance
coverage subject to certain eligibility criteria in January 2024. To further encourage and support
women delivery partners, Zomato designed and launched a kurta as an alternative to the Western style
T-shirt. The kurta was designed to provide greater comfort to women who conveyed a preference for
traditional Indian attire.
98
Actions taken to address the concerns of vulnerable/marginalised groups outside of its value chain:
• Zomato has provided infrastructure on Zomato’s platform to enable customers to make contribution(s)
towards an independent NGO, Feeding India at the checkout page on Zomato’s platform. The
contributions made by the customers are sent to Feeding India for their various initiatives including
initiatives to eradicate hunger and improve malnutrition outcomes among underprivileged communities
in India. Using contributions from users and other sources including corporates and foundations,
Feeding India has provided 17 crore meals to underserved communities since its inception.
Principle 5 – Businesses should respect and promote human rights
1. Employees and workers who have been provided training on human rights issues and policy(ies)
of the entity, in the following format:
Total No. of % Total No. of %

(A) employees (B/A) (C) employees (D/C)
/ workers / workers
covered (B) covered (D)
Employees*
Permanent 3,988 3,327 83.43% 3,440 3,261 94.80%
Other than permanent 452 411 90.93% 446 358 80.27%
Total employees 4,440 3,738 84.18% 3,886 3,619 93.13%
Workers
Permanent 0 0 0% 0 0% 0%
Other than permanent 316 303 95.89% 298 274 91.95%
workers**
Total workers 316 303 95.89% 298 274 91.95%
*For employees, training on Human Rights has been conducted online via our internal learning platform. Additionally, we also
circulated posters and videos via our internal channel. POSH training has been conducted at the time of induction.
**For other than permanent workers, Human Rights training has been conducted through in-person training via videos.
2. Details of minimum wages paid to employees and workers, in the following format*:
Total Equal to More than Total Equal to More than

(A) minimum wage minimum wage (D) minimum wage minimum wage
No. (B) % (B/A) No. (C) % (C/A) No. (E) % (E/D) No. (F) % (F/D)
Employees
Permanent 3,988 0 0% 3,988 100% 3,440 0 0% 3,440 100%
Male 3,058 0 0% 3,058 100% 2,685 0 0% 2,685 100%
Female 929 0 0% 929 100% 754 0 0% 754 100%
Other 1 0 0% 1 100% 1 0 0% 1 100%
99
Total Equal to More than Total Equal to More than

(A) minimum wage minimum wage (D) minimum wage minimum wage
No. (B) % (B/A) No. (C) % (C/A) No. (E) % (E/D) No. (F) % (F/D)
Other than 452 0 0% 452 100% 446 0 0% 446 100%
permanent
Male 368 0 0% 368 100% 360 0 0% 360 100%
Female 84 0 0% 84 100% 86 0 0% 86 100%
Other 0 0 0% 0 100% 0 0 0% 0 100%
Workers
Permanent 0 0 0% 0 0% 0 0 0% 0 0%
Male 0 0 0% 0 0% 0 0 0% 0 0%
Female 0 0 0% 0 0% 0 0 0% 0 0%
Others 0 0 0% 0 0% 0 0 0% 0 0%
Other than 316 302 95.56% 14 4.44% 298 298 100% 0 0%
permanent
workers
Male 263 256 97.33% 7 2.67% 263 263 100% 0 0%
Female 53 46 86.79% 7 13.21% 35 35 100% 0 0%
Others 0 0 0% 0 0% 0 0 0% 0 0%
*Data reported is as on 31st March 2024.
3 a. Details of remuneration/salary/wages, in the following format:

FY 2023-24 Male Female
Number Median remuneration/ Number Median remuneration/

salary/ wages of salary/ wages of
respective category* respective category
Board of Directors (BoD)** 1 INR 4,200,000*** 4 INR 3,550,000

Key managerial personnel 2 NIL**** 1 INR 8,000,000*****
Employees other than BoD 3,056 INR 850,000 928 INR 887,500
and KMP
Workers -
*Median Salary of the board and key managerial personnel does not include the amount of employee share based payment, the provisions
made for gratuity and leave encashment, as they are determined on an actuarial basis.
**Board of Directors and Key Managerial Personnel include Deepinder Goyal, Founder, MD and CEO.
***Out of the three male board members, no median value can be reported as two male board members are not drawing salary, accordingly
remuneration (including sitting fees) of the only male member has been reported.
****No median value can be reported as both the male KMPs have voluntarily waived their salary and accordingly NIL has been reported.
*****No median value can be reported as there is only one female KMP and accordingly remuneration of the female KMP has been reported.
3 b. Gross wages paid to females as % of total wages paid by the entity, in the following format:*
FY 2023-24 FY 2022-23
Gross wages paid to females as % of total wages 21.31% 22.31%

*In FY24 and FY23, Zomato’s coverage in the above question includes wages of permanent employees other than BoDs and KMPs.
100
4. Do you have a focal point (individual/ Committee) responsible for addressing human rights
impacts or issues caused or contributed to by the business? (Yes/No)
Yes, we have a dedicated Internal Complaints Committee (ICC) to address human rights complaints raised
by employees.
5. Describe the internal mechanisms in place to redress grievances related to human rights issues.
The following are the internal mechanisms in place at Zomato to redress grievances related to human
rights issues:
• We have a dedicated Internal Complaints Committee to address and investigate any human rights
complaints.
• Instances related to human rights can be reported on email ID - speakup@zomato.com.
• All complaints are kept confidential and investigated promptly.
• In addition, we have a grievance mechanism in place for our value chain partners to report instances
related to human rights.
These internal mechanisms are detailed in our Human Rights Policy. (Link to the policy)
6. Number of complaints on the following made by employees and workers:

FY 2023-24 FY 2022-23
Filed Pending Remarks Filed Pending Remarks

during resolution at during the resolution at
the year the end of year year the end of year
Sexual harassment 3 0 - 4 0 -
Discrimination at - -
0 0 0 0
workplace
Child labour 0 0 - 0 0 -
Forced labour/ - -
0 0 0 0
Involuntary labour
Wages 0 0 - 0 0 -
Other human rights- - -
1 0 0 0
related issues
7. Complaints filed under the Sexual Harassment of Women at Workplace (Prevention, Prohibition
and Redressal) Act, 2013, in the following format:
FY 2023-24 FY 2022-23
Total Complaints reported under Sexual Harassment on of Women at 3 4

Workplace (Prevention, Prohibition and Redressal) Act, 2013 (POSH)
Complaints on POSH as a % of female employees / workers 0.28% 0.46%
Complaints on POSH upheld 3 4
8. Mechanisms to prevent adverse consequences to the complainant in discrimination and

harassment cases.
Our commitment to prevent discrimination and harassment at workplace is demonstrated in our documented
policies on Prevention of Sexual Harassment (POSH), Human Rights and Equal Opportunity, Diversity and
Inclusion. We have strong anti-retaliation measures built into our policies. We are committed to protecting
the complainant and ensuring no retaliation of any kind against anyone reporting good faith concerns.
Anyone targeting such a person will be subjected to strict disciplinary actions. This protection is extended
not only to the complainant but also to anyone who assists with or cooperates as part of an investigation.
101
9. Do human rights requirements form part of your business agreements and contracts? (Yes/No)
No.
10. Assessments of the year:
% of your plants and offices that were assessed

(by the entity or statutory authorities or third parties)
Child labour 100%.

Forced/involuntary labour We engaged an independent external organisation to conduct a Human
Rights Assessment for Zomato Limited.
Sexual harassment
The assessment included the below:
Discrimination at workplace
• A comprehensive review of human rights systems, operating policies
Wages and procedures for the entire organisation.
Others – please specify • Focused discussion with HR and Governance, Risk and Compliance
representatives to understand existing human rights systems and
practices.
• Online human rights risk assessment survey was conducted covering
permanent and other than permanent employees from all locations.
• Focus group discussions were conducted in our Gurugram and
Bengaluru offices with other than permanent workers on a sample
basis.
11. Provide details of any corrective actions taken or underway to address significant risks/
concerns arising from the assessments at Question 10 above.
As per the results of the Human Rights Assessment conducted by an independent external organisation
in FY24, there were no significant or high risks / concerns of human rights related practices at Zomato.
As an organisation we are committed to promoting and respecting human rights of all employees and
workers. We conduct regular awareness sessions in our organisation pertaining to various human rights
aspects in order to sensitise our workforce.
2. Details of the scope and coverage of any Human rights due-diligence conducted.
Human Rights due-diligence for Zomato Limited covered employees and workers (third party workers)
across locations. Following aspects were covered in the due-diligence conducted:
• Working Conditions : Working hours, work-related stress, degree of safety, and comfort
• Labour Rights : Employment contracts, freedom of association and collective bargaining, employee
benefits, forced or compulsory labour and child labour
• Rights to privacy : Personal and professional data and information
• Health, safety and well-being : Training and awareness sessions, safety drills, insurances, assistance
programmes and policies.
• Fair and equal remuneration : Compensation practices
• Freedom of Speech : Feedback mechanisms
• Workplace discrimination & harassment : Discrimination (age, gender, ethnicity, sexual preference,
color, disability, etc.) and mental and sexual harassment
• Learning & Development : Skill development programmes for career progression and professional
growth
• Diversity & Inclusion : Equal opportunity, diversity, and inclusion
102
Principle 6 – Businesses should respect and make efforts to protect and restore the environment
1. Details of total energy consumption (in Joules or multiples) and energy intensity, in the following
format*:
Parameter FY 2023-24 FY 2022-23**
From renewable sources
Total electricity consumption (A) 0.00 0.00
Total fuel consumption (B) 0.00 0.00
Energy consumption through other sources (C) 0.00 0.00
Total energy consumed from renewable sources (A+B+C) 0.00 0.00
From non renewable sources
Total electricity consumption (D) 412.15 GJ 341.97 GJ
Total fuel consumption (E) 103.67 GJ 119.18 GJ
Energy consumption through other sources (F) 0.00 0.00
Total energy consumed from non-renewable sources (D+E+F) 515.83 GJ 461.16 GJ
Total energy consumed (A+B+C+D+E+F) 515.83 GJ 461.16 GJ
Energy intensity per rupee of turnover 0.0000000077896 0.0000000097963

(Total energy consumed / Revenue from operations) GJ / rupee GJ / rupee
of turnover of turnover
Energy intensity per rupee of turnover adjusted for Purchasing 0.0000001744863 0.0000002194382
Power Parity (PPP) GJ / rupee GJ / rupee
(Total energy consumed / Revenue from operations adjusted of turnover of turnover
for PPP) adjusted for PPP adjusted for PPP
Energy intensity in terms of physical output - -
Energy intensity (optional) – the relevant metric may be - -

selected by the entity
*Energy consumption data in the table above covers energy from fuel consumption through leased DG sets and owned office
vehicles. This only includes energy from purchased electricity for offices within Zomato’s boundary determined by operational
control approach. Please refer to our boundary note on page 72 of this annual report for more details.
**Previous year values are recalculated and restated basis the current year boundary.
Note: Indicate if any independent assessment/ evaluation/assurance has been carried out by an
external agency? (Y/N) If yes, name of the external agency.
Yes, assured by Deloitte Haskins & Sells LLP for FY24.
103
2. Does the entity have any sites/facilities identified as designated consumers (DCs) under the
performance, achieve, and trade (PAT) Scheme of the Government of India? (Y/N) If yes, disclose
whether targets set under the PAT scheme have been achieved. In case targets have not been
achieved, provide the remedial action taken if any.
Not applicable.
3. Provide details of the following disclosures related to water, in the following format*:
Parameter FY 2023-24 FY 2022-23**
Water withdrawal by source (in kilolitres)
(i) Surface water 0 0
(ii) Groundwater 0 0
(iii) Third-party water 870.28 789.48
(iv) Seawater / desalinated water 0 0
(v) Others (Purchased drinking water) 55.01 0
Total volume of water withdrawal (in kilolitres) (i + ii + iii + iv + v) 925.29 789.48
Total volume of water consumption (in kilolitres) 185.06 157.9
Water intensity per rupee of turnover (water consumed / revenue 0.0000000028 0.0000000034
from operations ) KL/ rupee of KL/ rupee of
turnover turnover
Water intensity per rupee of turnover adjusted for Purchasing Power 0.0000000626 0.0000000751
Parity (PPP) (Total water consumption/Revenue from operations KL / rupee KL / rupee
adjusted to PPP) of turnover of turnover
adjusted for adjusted for
PPP PPP
Water intensity in terms of physical output - -
Water intensity (optional) – the relevant metric may be selected by - -

the entity
*Environmental performance data for this indicator covers Bangalore office only based on Zomato’s boundary determined by
operational control approach.
104
4. Provide the following details related to water discharged:
Parameter FY 2023-24 FY 2022-23**
Water discharge by destination and level of treatment (in kilolitres)*
(i) To Surface water
- No treatment 0 0
- With treatment – please specify level of treatment 0 0
(ii) To Groundwater 0
- No treatment 0 0
(iii) To Seawater
- No treatment 0 0
(iv) Sent to third-parties
- No treatment 740.23 631.58
(v) Others
- No treatment 0 0
Total water discharged (in kilolitres) 740.23 631.58

*Environmental performance data for this indicator covers Bangalore office only based on Zomato’s boundary determined by
operational control approach. Water discharge values are calculated based on an assumption that 80% of the water supply flows
back into the ecosystem as wastewater.
Note : Indicate if any independent assessment/evaluation/assurance has been carried out by an

external agency ? (Y/N) If yes, name of the external agency.
5. Has the entity implemented a mechanism for Zero Liquid Discharge? If yes, provide details of
its coverage and implementation.
Yes, our corporate office in Gurugram (a multi-tenant facility), has a zero liquid discharge mechanism
through a sewage treatment plant (STP). This STP has been installed by our landlord to recycle domestic
wastewater and reuse it for horticulture and flushing. However, we don’t have operational control over
this STP. For all our other offices, wastewater is discharged into municipal sewers, which undergo further
treatment in line with applicable requirements.
105
6. Please provide details of air emissions (other than GHG emissions) by the entity, in the following
format:
Parameter Unit FY 2023-24 FY 2022-23
NOx MT 0.000590195 Not Recorded

SOx MT 0.000135870
Particulate matter (PM) MT 0.000239236
Persistent organic pollutants (POP) MT -
Volatile organic compounds (VOC) MT -
Hazardous air pollutants (HAP) MT -
Others – please specify MT -
Note: Indicate if any independent assessment / evaluation / assurance has been carried out by an
external agency? (Y / N) If yes, name of the external agency.
Yes, assessment was conducted by Eko Pro Engineers Pvt. Ltd.
7. Provide details of greenhouse gas emissions (Scope 1 and Scope 2 emissions) and its intensity,
in the following format:
Parameter Unit FY 2023-24 FY 2022-23***
Total Scope 1 emissions (Break-up of Metric tonnes of Gross: 7.01 tCO2e Gross: 8.07 tCO2e
the GHG into CO2, CH4, N2O, HFCs, CO2 equivalent Net: 0* Net: 0*
PFCs, SF6, NF3, if available)**
Total Scope 2 emissions (Break-up of Metric tonnes of Gross: 81.97 tCO2e Gross: 67.44 tCO2e
the GHG into CO2, CH4, N2O, HFCs, CO2 equivalent Net 0* Net 0*
PFCs, SF6, NF3, if available)**
Total Scope 1 and Scope 2 emission Metric tonnes of 0.0000000013437 0.0000000016041
intensity per rupee of turnover (Total CO2 equivalent tCO2e / rupee of tCO2e / rupee of
Scope 1 and Scope 2 GHG emissions / turnover turnover
Revenue from operations)
Total Scope 1 and Scope 2 emissions Metric tonnes of 0.0000000300989 0.0000000359315
intensity per rupee of turnover CO2 equivalent / tCO2e / rupee of tCO2e / rupee of
adjusted for Purchasing Power Parity rupee of turnover turnover adjusted for turnover adjusted for
(PPP) (Total Scope 1 and Scope 2 adjusted for PPP PPP PPP
GHG emissions / Revenue from
operations adjusted for PPP)
Total Scope 1 and Scope 2 emission - - -
intensity in terms of physical output
Total Scope 1 and Scope 2 emission - - -
intensity (optional) – the relevant
metric may be selected by the entity
*For Scope-1: The above numbers are after deducting the carbon removal offsets purchased to maintain carbon neutrality for
Scope-1. For Scope-2: The above numbers are after deducting the International Renewable Energy Certificate (IREC) purchased
to maintain carbon neutrality for Scope-2.
**Scope- 1 & 2 emissions includes emissions from fuel consumption, purchased electricity and fugitive emissions for offices within
Zomato’s boundary determined by operational control approach. Scope-1 & 2 emissions from the offices where operational control
is not there, they are accounted under scope 3 purchased goods & services. Please refer to our boundary note on page 72 of this
annual report for more details.
***Previous year values are recalculated and restated basis the current year boundary
106
external agency? (Y / N) If yes, name of the external agency
8. Does the entity have any project related to reducing greenhouse gas emission? If Yes, then
provide details.
Yes. In FY23, we committed to achieving net zero emissions across our food ordering and delivery value
chain by 2033 from FY22 base year. We have submitted our commitment to Science Based Target Initiative
(SBTi), and are in process of getting the targets validated. Towards achieving this long-term goal, we’ve
set the following targets:
• Maintain scope 1 & scope 2 emissions at 0 from FY23 onwards
• Reduce last mile delivery emissions by 70% on a per km basis by FY30 from the base year of FY22.
This target is aligned with our commitment to facilitate 100% EV-based deliveries by 2030, our
flagship GHG reduction project.
Against the above targets, our performance to date is summarised below:
• We have maintained 100% of our scope 1 & scope 2 emissions at 0 through use of an equivalent amount
of verified carbon removal offsets and International Renewable Energy Certificates (IRECs).
• Our last-mile delivery emissions on a per km basis reduced by 9.35% in FY24 when compared to FY22.
The reduction in last-mile delivery emissions was facilitated by an expansion of our EV program. FY24,
Zomato’s total EV- based food deliveries increased by 4x from previous year, totaling to 61.6 million orders,
representing 8.19% of total orders. During the reporting year, we organised 200+ EV melas and bazaars
in collaboration with our EV partners and established 46 agreements with new EV partners, thereby
increasing the total number of active EV partnerships to 91 as of 31st March 2024.
9. Provide details related to waste management by the entity, in the following format:
Parameter FY 2023-24 FY 2022-23**
Total waste generated (in metric tonnes)*

Plastic waste (A) 0.52 0.92
E-waste (B) 7.79 2.98
Bio-medical waste (C) 0.50 0.65
Construction and demolition waste (D) 0 0
Battery waste (E) - -
Radioactive waste (F) - -
Other Hazardous waste. Please specify, if any. (G) 0.03 -
Other Non-hazardous waste generated (H). Please specify, if any. Wet Waste= 2.61 Wet Waste= 1.32
(Break-up by composition i.e. by materials relevant to the sector) Paper & Paper &
Cardboard= 3.51 Cardboard= 2.25
Total (A+B + C + D + E + F + G + H) 14.97 8.12
107
Parameter FY 2023-24 FY 2022-23**
Waste intensity per rupee of turnover (Total waste generated / 0.0000000002 0.0000000002
Revenue from operations) MT / rupee of MT / rupee of
turnover turnover
Waste intensity per rupee of turnover adjusted for Purchasing 0.0000000051 0.0000000039
Power Parity (PPP) (Total waste generated / Revenue from MT / rupee MT / rupee
operations adjusted for PPP) of turnover of turnover
adjusted for PPP adjusted for PPP
Waste intensity in terms of physical output - -
Waste intensity (optional) – the relevant metric may be selected - -

by the entity
*Environmental performance data for this indicator covers three offices on direct lease with more than 100 employees (Gurugram,
Kolkata and Bangalore). Our Kolkata office was operational till 30th November 2023, therefore its disclosures are covered till 30th
November 2023. Disclosure in different waste categories is made as per Zomato’s boundary determined by operational control
approach.
For each category of waste generated, total waste recovered through recycling, re-using or other
recovery operations (in metric tonnes)*
FY 2023-24 FY 2022-23**
Category of waste:
(i) Recycled 11.71 2.98
(ii) Re-used 0 0
(iii) Other recovery operations 0 0
Total 11.71 2.98
For each category of waste generated, total waste disposed of by nature of disposal method
(in metric tonnes)*
FY 2023-24 FY 2022-23**
Category of waste
(i) Incineration 0.50 0.65
(ii) Landfilling 1.20 4.49
(iii) Other disposal operations 1.57 0.00
Total 3.27 5.14

*Environmental performance data for this indicator covers three offices on direct lease with more than 100 employees (Gurugram,
Kolkata and Bangalore). Our Kolkata office was operational till 30th November 2023, therefore its disclosures are covered till
30th November 2023. Disclosure in different waste categories is made as per Zomato’s boundary determined by operational control
approach.
external agency? (Y / N) If yes, name of the external agency -
108
10. Briefly describe the waste management practices adopted in your establishments. Describe
the strategy adopted by your company to reduce the usage of hazardous and toxic chemicals
in your products and processes and the practices adopted to manage such wastes.
At Zomato, we are committed to implementing effective waste management strategies to minimise the
environmental impact of our business.
Our employees sit out of leased premises or co-working spaces where waste disposal is managed by the
owners or main lessors of the property. In offices that are directly leased by us, we have implemented
initiatives to reduce waste and promote segregation at the source.
• To reduce waste, we have replaced disposable cutlery with reusable plates and cutlery and implemented
a ‘bring your own bottle’ initiative eliminating the use of paper cups for drinking water.
• To promote segregation at source we utilise appropriately coloured and labelled dustbins to facilitate
easy and efficient separation of various types of waste, ensuring that recyclable, organic, and non-
recyclable materials are appropriately sorted by our own housekeeping teams.
For e-waste, biomedical waste and hazardous waste streams, we take responsibility for appointing
authorised waste management vendors and collect recycling certificates from them.
For plastic waste, wet waste and paper and cardboard waste streams, we collect details of disposal and
recycling from vendors appointed by our landlords or owners of the premises.
Along with our policies, these processes have earned our Gurugram and Bengaluru offices ISO 14001
certification in the reporting year.
Since, we are a technology platform in the services business, our generation of hazardous waste is minimal
and toxic waste nil.
To further reduce the impact of waste generated by orders placed by users from restaurants on Zomato’s
platform, we have implemented a number of voluntary initiatives.
One of our key voluntary waste reduction initiatives is the ‘don’t send cutlery’ initiative on the food delivery
app, which requires end-users to explicitly ‘opt-in’ for cutlery, if needed. This initiative has resulted in a
reduction of restaurant orders sent with cutlery by more than 75%, preventing the usage of single-use
materials and reducing an estimated 933 MT of cutlery waste for FY24.
In the domain of recycling, a major voluntary initiative we have taken is ‘100% Plastic Neutral deliveries’.
While the choice of packaging used for food deliveries rests with our restaurant partners, we are
committed to mitigating the impact of this packaging on the environment through voluntary recycling.
Towards this end, Zomato voluntarily recycled 10,000 MT of plastic waste in FY24. Since April 2022, we’ve
recycled 30,000 MT of plastic waste which is more than 1.5x the estimated amount of plastic used by our
restaurants for packaging orders as per an independent external assessment.
11. If the entity has operations/offices in/around ecologically sensitive areas (such as national
parks, wildlife sanctuaries, biosphere reserves, wetlands, biodiversity hotspots, forests, coastal
regulation zones, etc.) where environmental approvals/clearances are required, please specify
details in the following format:
Zomato does not have any offices in/around ecologically sensitive areas.
12. Details of Environmental Impact Assessments of projects undertaken by the entity based on
applicable laws, in the current financial year:
Not Applicable.
109
13. Is the entity compliant with the applicable environmental law/ regulations/ guidelines in India;
such as the Water (prevention and control of pollution) Act, Air (prevention and control of
pollution) Act, Environment Protection Act, and rules thereunder (Y/N). If not, provide details
of all such non-compliances, in the following format:
Yes.
2. Please provide details of total Scope 3 emissions & its intensity, in the following format:
Parameter Unit FY 2023-24 FY 2022-23*
Total Scope 3 emissions (Break-up of the Metric tonnes of 120120.13 tCO2e 102654.57 tCO2e
GHG into CO2, CH4, N2O, HFCs, PFCs, SF6, CO2 equivalent
NF3, if available)
Total Scope 3 emissions per rupee of Metric tonnes of 0.0000018139555 0.0000021806979
turnover CO2 equivalent tCO2e / rupee of tCO2e / rupee of
turnover turnover
Total Scope 3 emission intensity (optional) - - -
– the relevant metric may be selected by
the entity
*Previous years’ scope 3 emissions have been recalculated to incorporate emissions from electricity purchased for leased facilities
outside of Zomato’s operating control and emissions from two-wheeler bikes used for food delivery with engine capacity of <150cc.
Yes, assured by Deloitte Haskins & Sells LLP.
4. If the entity has undertaken any specific initiatives or used innovative technology or solutions
to improve resource efficiency, or reduce impact due to emissions / effluent discharge/waste
generated, please provide details of the same as well as the outcome of such initiatives, as per
the following format:
Sr. Initiative Details of the initiative (Web-link, if any, Outcome of the initiative
No. undertaken may be provided along-with summary)
1 Climate Our profile is dominated by emissions In the reporting year 2023-34 we
conscious from transportation undertaken by signed an additional 46 partnerships
deliveries delivery partners. We are working with various players in the 2W EV
initiative towards 100% EV-based deliveries ecosystem including manufacturers,
by 2030. We have signed partnership Battery-as-a-service operators and EV
agreements with EV 2-wheeler rental companies. This brings the total
manufacturers and service operators to number of active EV partnerships we
help us achieve this objective. have to 91 as on March 31st 2024.
110
Sr. Initiative Details of the initiative (Web-link, if any, Outcome of the initiative
No. undertaken may be provided along-with summary)
Our logistics team also runs awareness In the reporting year 2023-24,
campaigns for delivery partners to ~2,00,000+ delivery partners were
explain the benefits of switching to made aware of the benefits of EVs
electric vehicles and address their via digital and offline communication
doubts. We also routinely organise campaigns.
EV melas where various EV-bike The monthly active EV -based delivery
manufacturing and rental companies fleet as for March 2024 stood at 27,884
can display their models to delivery which is 2x the number of EV-based
partners and offer test-rides. partners in our fleet compared to
In the reporting year 2023-24, we March 2023.
launched a page within the delivery The program has won Zomato ‘Best
partner application through which ESG Performance in Sustainable
partners can easily discover various Transportation’ from Transformance
models of electric vehicles available on Forums ‘ESG Summit and Awards’ in
rent from different companies. November 2023.
Zomato’s EV program was also the
recipient of the Frost & Sullivan
award for Best Environment Project in
December 2023.
2 100% plastic In FY23, Zomato launched the 100% 10,000 MT of additional plastic waste
neutral plastic neutral deliveries initiatives. voluntarily recycled in FY24 bringing
deliveries While the choice of packaging used for the total volume of plastic waste
food deliveries rests with our restaurant voluntarily recycled by Zomato to
partners, we are committed to 30,000 MT to date.
mitigating the impact of this packaging
on the environment through voluntary ‘Best ESG Performance in Packaging
recycling. Towards this end, Zomato has and Waste Management Award’ from
voluntarily recycled 30,000 MT of plastic Transformance Forums ‘ESG Summit
waste to date which is estimated to be and Awards’ in November 2023.
more than 1.5x the amount of plastic
used by restaurants for packaging
deliveries facilitated by Zomato as per
an independent external assessment,
fully meeting the target of 100% plastic
neutral deliveries in FY24.
(Link: 100% plastic neutral deliveries)
3 Don’t Send Zomato launched the ‘Don’t Send This initiative has resulted in a
Cutlery Cutlery’ initiative in FY22. This initiative reduction of restaurant orders
initiative is designed to reduce all types of single- sent with cutlery by more than
use material waste as customers often 75%, preventing usage of single-
have access to cutlery in their homes use materials and reducing an
or offices. This initiative has been estimated 933 MT of cutlery waste
activated on our mobile application and for FY24,bringing the total single-use
requires end-users to explicitly ‘opt-in’ material waste reduced over 3 years to
for cutlery, if needed. 1,933 MT.
111
Principle 7 – Businesses, when engaging in influencing public and regulatory policy, should do so in a
manner that is responsible and transparent
1. a. Number of affiliations with trade and industry chambers/ associations.
Zomato was affiliated with / participated in discussions with three industry bodies.
b. List the top 10 trade and industry chambers/ associations (determined based on the total
members of such a body) the entity is a member of/ affiliated to.
Sr. No. Name of the trade and industry chambers/ Reach of trade and industry chambers/
associations associations (State/National)
1 Internet and Mobile Association of India (IAMAI) National
2 Federation of Indian Chambers of Commerce National

and Industry (FICCI)
3 Technology Services Industry Association National

(Indiatech.org)
2. Provide details of corrective action taken or underway on any issues related to anti-competitive
conduct by the entity, based on adverse orders from regulatory authorities.
Name of authority Brief of the case Corrective action taken
None. No adverse order received by the Company from regulatory authorities in FY24*.
*During the year ended March 31, 2022, the Company received an order under Section 26(1) of the Competition Act, 2002, under
which the Hon’ble Competition Commission of India (CCI) initiated an investigation into certain aspects of the Company’s business.
The Company continues to work closely with the Hon’ble CCI to assist them with their inquiry and explain to the Hon’ble CCI why all
its practices are in compliance with competition laws and do not have any adverse effect on competition in India.
1. Details of public policy positions advocated by the entity:
Sr. Public policy Method resorted for such Whether Frequency of Web-link, if available
No. advocated advocacy information review by board
available in (Annually/ half
the public yearly/ quarterly
domain? / others – please
(Yes/No) specify)
1 Provided inputs Zomato (along with other Yes - https://pib.gov.in/

on social security ecosystem stakeholders) PressReleaseIframePage.
provisions to gig and is a part of the Committee aspx?PRID=1807652
platform workers constituted by the Ministry of
Labour, Government of India
to provide inputs to support in
“framing of rules under the Code
on Social Security, 2020 relating
to gig workers and platform
workers.” Additionally, Zomato
(along with other ecosystem
stakeholders) has participated
in some state level discussions
focused on provision of social
security to gig and platform
workers.
112
Sr. Public policy Method resorted for such Whether Frequency of Web-link, if available
No. advocated advocacy information review by board
available in (Annually/ half
the public yearly/ quarterly
domain? / others – please
(Yes/No) specify)
2 Provided inputs for Zomato (along with other Yes - https://inc42.com/buzz/

adoption of Electric ecosystem stakeholders) delhi-govt-vehicle-aggregator-
Vehicles in Delhi participated in government scheme-ev-transition-
consultations for the 2030/#:~:text=Territory%20
implementation of the Delhi of%20Delhi.-,The%20
Government’s Motor Vehicle scheme%20mandates%20
Aggregators and Delivery that%20the%20entire%20
Service Provider Scheme 2023. fleet%20of%20all%20
the,guidelines%20outlined%20
in%20the%20scheme.
3 Provided inputs on Zomato (along with other Yes - https://pib.gov.in/
the subordinate ecosystem stakeholders) PressReleaseIframePage.
rules under the provided inputs sought by the aspx?PRID=1959161
Digital Personal Data Ministry of Electronics and IT
Protection Act (MeitY) on the said Act.
Principle 8 – Businesses should promote inclusive growth and equitable development
1. Details of Social Impact Assessments (SIA) of projects undertaken by the entity based on
applicable laws, in the current financial year.
Name and SIA Date of Whether conducted by Results Relevant web

brief details notification notification independent external communicated link
of project No. agency (Yes/No) in public domain
(Yes/No)
Not applicable
2. Provide information on the project(s) for which ongoing Rehabilitation and Resettlement (R&R)
is being undertaken by your entity:
Sr. No. Name of project State District No. of project % of PAFs Amounts paid to
for which R&R is affected families covered by PAFs in the FY
ongoing (PAFs) R&R (In INR)
Not applicable
3. Describe the mechanisms to receive and redress grievances of the community.

As outlined in our Stakeholder and Grievance Management Policy (Link to the policy), we have a grievance
redressal mechanism in place for all stakeholders (including community) to raise any concern.
Should stakeholders have any concerns, queries, or complaints, they can reach out to us through the below
grievance reporting channels:
• grievance@zomato.com
• nodal@zomato.com
Additionally, feedback or concern can be submitted through https://www.zomato.com/contact.
113
4. Percentage of input material (inputs to total inputs by value) sourced from suppliers:
FY 2023-24 FY 2022-23
Directly sourced from MSMEs/ small producers 6.52% 4.57%

Sourced directly from within India 97.58% 95.25%
5. Job creation in smaller towns – Disclose wages paid to persons employed (including employees
or workers employed on a permanent or non-permanent / on contract basis) in the following
locations, as % of total wage cost
Location FY 2023-24 FY 2022-23
Rural 0.02% 0.003%

Semi-Urban 0.05% 0.09%
Urban 68.99% 67.03%
Metropolitan 30.94% 32.87%
(Place to be categorised as per RBI Classification System - rural / semi-urban / urban / metropolitan)
*The above reported data includes the wages paid to all Zomato Limited India employees and workers in FY23 and FY24.
Principle 9 – Businesses should engage with and provide value to their consumers in a responsible manner
1. Describe the mechanisms in place to receive and respond to consumer complaints and feedback.
We have two types of customers as described in Section-A, Q19(c):
• nd-users of our platform: Zomato has a system to collect queries and feedback from end-users
E
through multiple channels including the customer support section within the Zomato app, social
media channels, email, app ratings and reviews. Additionally, after every supported chat, feedback
is sought to gauge their satisfaction with the support received. Trends derived from the analysis of
the feedback and ratings are used to implement corrective measures as required.
• Restaurant partners: Zomato has a system to collect queries and feedback from restaurant partners
through channels like partner app/web, emails and social media channels. For live order support,
partners can also reach out through chats and calls to get issues addressed immediately. Feedback
on issue resolution is sought after each ticket from all the channels and then analysed to improve the
quality of responses for better partner experience.
In case of any queries and feedback, customers can write to us on the below grievance reporting channels -
• grievance@zomato.com
• nodal@zomato.com
2. Turnover of products and/ services as a percentage of turnover from all products/services that
carry information about:
As a % to total turnover
Environmental and social parameters relevant to the product

Safe and responsible usage Not applicable
Recycling and/or safe disposal
114
3. Number of consumer complaints in respect of the following:

FY 2023-24 Remarks* FY 2022-23 Remarks
Received Pending Received Pending

during resolution at during resolution at
the year end of year the year end of year
Data privacy 0 0 - 0 0 -
Advertising 0 1 - 0 1 -
Cyber-security 0 0 - 0 0 -
Delivery of essential - - Not - - Not
services Applicable applicable
Restrictive trade 0 0 - 0 0 -
practices
Unfair trade practices 36 65 - 34 45 -
Other 11 25 - 21 29 -
*Consumer complaints data for FY23 and FY24 includes complaints filed before various courts by our customers i.e. end-users of
our platform and restaurant partners.
4. Details of instances of product recalls on account of safety issues.

Number Reasons for Recall
Voluntary Recalls
Not applicable
Forced Recalls
5. Does the entity have a framework/policy on cyber security and risks related to data privacy?
(Yes/No) If available, provide a web link to the policy.
Yes. Zomato has a comprehensive privacy and cybersecurity framework in line with the NIST (National
Institute of Standards and Technology) cyber security framework, supported by policies and procedures.
Below are the web links to our policies:
• Information Security Policy: (Link to the policy)
• Privacy Policy: (Link to the policy)
6. Provide details of any corrective actions taken or underway on issues relating to advertising,
and delivery of essential services; cyber security and data privacy of customers; re-occurrence
of instances of product recalls; penalty/action taken by regulatory authorities on the safety of
products/services.
There were no significant concerns/complaints identified during the reporting year on the topics
mentioned above. However, in case of any concerns, customers can reach out to us via multiple channels
as described in Principle 4 Q2.
For data-privacy-related concerns, we have a Privacy Policy in place which outlines the process to report
and investigate any suspected or potential threat to personal data. The Data Protection Officer investigates
incidents to identify lapses and gaps to continuously improve processes and controls to mitigate future
breaches.
Privacy Policy: (Link to the policy)
115
7. Provide the following information relating to data breaches:

a. Number of instances of data breaches - 0
b. Percentage of data breaches involving personally identifiable information of customers -
Not applicable
c. Impact, if any, of the data breaches - Not applicable
1. Channels / platforms where information on products and services of the entity can be accessed
(provide web link, if available).
Information regarding Zomato’s products and services can be accessed via the below platforms:
• Our Website : www.zomato.com
• Google Play Store: Zomato Food Delivery & Dining App | Zomato Restaurant Partner App | Zomato
Delivery Partner App
• Apple App Store: Food Delivery & Dining App | Zomato Restaurant Partner App
• Facebook: Zomato Page
• Instagram page: @Zomato
• LinkedIn page: Zomato Page
• Twitter page: @Zomato
• Youtube page: Zomato Page
4. Does the entity display product information on the product over and above what is mandated
as per local laws? (Yes/No/Not Applicable) If yes, provide details in brief. Did your entity carry
out any survey with regard to consumer satisfaction relating to the major products / services
of the entity, significant locations of operation of the entity or the entity as a whole? (Yes/No)
Not Applicable - Zomato is a technology platform that provides services to multiple stakeholders.
We periodically collect feedback from consumers and conduct satisfaction surveys relating to services
that we provide. For instance:
1. We collect feedback on our chat support service via the ratings tool available on our mobile application
post every chat resolution.
2. We also conducted a satisfaction survey of India-based consumers of our subscription-based loyalty
initiative ‘Zomato Gold’ in the reporting year.
116
INDEPENDENT PRACTITIONER’S REASONABLE ASSURANCE REPORT ON IDENTIFIED

SUSTAINABILITY INFORMATION IN ZOMATO LIMITED’S BUSINESS RESPONSIBILITY
AND SUSTAINABILITY REPORT
To the Board of Directors • Business Responsibility and Sustainability

of ZOMATO LIMITED Reporting Requirements for listed entities
per Master Circular No. SEBI/HO/CFD/PoD2/
1. We have undertaken to perform reasonable CIR/P/2023/120 dated July 11, 2023; and
assurance engagement, for ZOMATO LIMITED
(the “Company”) vide our engagement letter •
SEBI Circular SEBI/HO/CFD/CFD-SEC-
dated March 21, 2024 in respect of the agreed 2/P/CIR/2023/122 dated July 12, 2023 and
Sustainability Information listed below (the clarifications thereto issued by SEBI.
“Identified Sustainability Information” or “BRSR
Core indicators”) in accordance with the Criteria 4. Management’s Responsibility
stated in paragraph 3 below. This Sustainability The Company’s management is responsible for
Information is included in the Business selecting or establishing suitable criteria for
Responsibility and Sustainability Report (the preparing the Sustainability Information including
“BRSR” or the “Report”) within the Annual Report the reporting boundary of the Report, taking
of the Company for the year ended March 31, into account applicable laws and regulations,
2024. This engagement was conducted by our if any, related to reporting on the Sustainability
multidisciplinary team including assurance Information, identification of key aspects,
practitioners, environmental engineers and engagement with stakeholders, content,
specialists. preparation and presentation of the Identified
Sustainability Information in accordance with
2. Identified Sustainability Information the Criteria. This responsibility includes design,
Our scope of reasonable assurance consists of implementation and maintenance of internal
the BRSR Core indicators (Environment, Social control relevant to the preparation of the Report
and Governance indicators) listed in the Appendix and the measurement of Identified Sustainability
I to our report. The reporting boundary of the Information, which is free from material
Report is as disclosed in Question 13 of Section A: misstatement, whether due to fraud or error.
General Disclosure of the BRSR with exceptions
disclosed by way of note under respective 5. Inherent limitations
questions of the BRSR, where applicable. The absence of a significant body of established
practice on which to draw to evaluate and measure
Our reasonable assurance engagement was non-financial information allows for different,
with respect to the year ended March 31, 2024 but acceptable, measures and measurement
information only and we have not performed any techniques and can affect comparability between
procedures with respect to earlier periods, and companies.
therefore, do not express any opinion thereon.
6. Our Independence and Quality Control
3. Criteria We have maintained our independence and
The Criteria used by the Company to prepare the confirm that we have met the requirements
Identified Sustainability Information is as under: of the Code of Ethics issued by the Institute of
Chartered Accountants of India (the “ICAI”) and
• Regulation 34(2) (f) of the Securities and the SEBI Circular No. SEBI/HO/CFD/CFD-SEC-
Exchange Board of India (the “SEBI”) (Listing 2/P/CIR/2023/122 dated July 12, 2023, and its
Obligations and Disclosure Requirements), clarifications thereto and have the required
Regulations, 2015 as amended; competencies and experience to conduct this
assurance engagement.
117
We apply Standard on Quality Control (the “SQC”) of documents, evaluating the appropriateness of
1, “Quality Control for Firms that Perform Audits quantification methods and reporting policies,
and Reviews of Historical Financial Information, analytical procedures and agreeing or reconciling
and Other Assurance and Related Services with underlying records.
Engagements”, and accordingly maintain
a comprehensive system of quality control Given the circumstances of the engagement, in
including documented policies and procedures performing the procedures listed above, we:
regarding compliance with ethical requirements,
• Obtained an understanding of the Identified
professional standards, and applicable legal and
Sustainability Information and related
regulatory requirements.
disclosures;
7. Our Responsibility • Obtained an understanding of the assessment
Our responsibility is to express a reasonable criteria and their suitability for the evaluation
assurance opinion on the Identified Sustainability and/or measurements of the Identified
Information listed in Appendix I based on the Sustainability Information;
procedures we have performed and evidence we
have obtained. • Made inquiries of Company’s Management,
including Sustainability team, EHS team,
We conducted our engagement in accordance compliance team, human resource team
with the Standard on Sustainability Assurance amongst others and those with the
Engagements (SSAE) 3000, “Assurance responsibility for preparation of the Report;
Engagements on Sustainability Information”,
• Obtained an understanding and performed an
and Standard on Assurance Engagements (SAE)
evaluation of the design of the key systems,
3410 “Assurance Engagements on Greenhouse
processes and controls for recording,
Gas Statements” (together the “Standards”), both
processing and reporting on the Identified
issued by the Sustainability Reporting Standards
Sustainability Information at the corporate
Board (the “SRSB”) of the ICAI.
office and at other offices on a sample
These Standards require that we plan and perform basis. This included evaluating the design of
our engagement to obtain reasonable assurance those controls relevant to the engagement
about whether the Identified Sustainability and determining whether they have been
Information listed in Appendix I and included in implemented by performing procedures
the Report are prepared, in all material respects, in addition to inquiry of the personnel
in accordance with the Criteria. responsible for the Identified Sustainability
Information;
As part of reasonable assurance engagement
• Based on the above understanding and
in accordance with the Standards, we exercise
the risks that the Identified Sustainability
professional judgment and maintain professional
Information may be materially misstated,
skepticism throughout the engagement.
determined the nature, timing and extent of
further procedures;
8. Reasonable Assurance
A reasonable assurance engagement involves • Tested the Company’s process for collating
identifying and assessing the risks of material the sustainability information through
misstatement of the Identified Sustainability agreeing or reconciling the Identified
Information whether due to fraud or error, Sustainability Information with the underlying
responding to the assessed risks as necessary records on a sample basis; and
in the circumstances.
• Tested the consolidated working consisting of
The procedures we performed were based on our the offices under the reporting boundary on a
professional judgment and included inquiries, sample basis for ensuring the completeness
observation of processes performed, inspection of data being reported.
118
We believe that the evidence we have obtained is indicators for the year ended March 31, 2024
sufficient and appropriate to provide a basis for listed in Appendix I are prepared in all material
our reasonable assurance opinion. respects, in accordance with the Criteria as
below:
9. Exclusions
Our assurance scope excludes the following and • Regulation 34(2) (f) of the Securities and
therefore we do not express an opinion on: Exchange Board of India (the “SEBI”) (Listing
Obligations and Disclosure Requirements)
•
Aspects of the Reports and the data/ Regulations, 2015 as amended;
information (qualitative or quantitative)
other than the Identified Sustainability • Business Responsibility and Sustainability
Information; and Reporting Requirements for listed entities
• The statements that describe expression of
CIR/P/2023/120 dated July 11, 2023; and
opinion, belief, aspiration, expectation, aim,
or future intentions provided by the Company. •
2/P/CIR/2023/122 dated July 12, 2023 and
10. Other information clarifications thereto issued by SEBI.
The Company’s Management is responsible for
the Other information. The Other information 12. Restriction on use
comprises the information included within Our Reasonable Assurance report has been
the BRSR other than Identified Sustainability
prepared and addressed to the Board of Directors
Information and our independent assurance
of the Company at the request of the Company
reports dated August 1, 2024 thereon.
solely, to assist the Company in reporting on
Our opinion on the Identified Sustainability Company’s sustainability performance and
Information does not cover the Other information activities. Accordingly, we accept no liability to
and we do not express any form of assurance anyone, other than the Company. Our Reasonable
thereon. Assurance report should not be used for any
other purpose or by any person other than the
In connection with our assurance engagement addressees of our report. We neither accept nor
of the Identified Sustainability Information, our assume any duty of care or liability for any other
responsibility is to read the Other information purpose or to any other party to whom our report
and, in doing so, consider whether the Other is shown or into whose hands it may come without
information is materially inconsistent with the our prior consent in writing.
Identified Sustainability Information or otherwise
appears to be materially misstated.
For Deloitte Haskins & Sells LLP
If, based on the work we have performed, we Chartered Accountants
conclude that there is a material misstatement of (Firm’s Registration No. 117366W / W-100018)
this Other information, we are required to report
that fact. We have nothing to report in this regard. Sd/-
Pratiq Shah
11. Reasonable Assurance Opinion Partner
Based on the procedures we have performed and Place: Mumbai Membership No. 111850
the evidence we have obtained, the BRSR Core Date: August 01, 2024 UDIN: 24111850BKJLKG1655
119
APPENDIX I
Identified Sustainability Information subject to Reasonable Assurance
Sr. Reporting Standard Reference Indicator Details

No
BRSR - Section C: Principle [P] Wise Performance Disclosures- Essential Indicators [E]
1 P-1: Businesses should conduct and E-8: Number of days of accounts payables ((Accounts
govern themselves with integrity, and in payable *365) / Cost of goods/services procured).
a manner that is Ethical, Transparent and
E-9: Details of concentration of purchases and sales with
Accountable.
trading houses, dealers, and related parties along-with
loans and advances and investments, with related parties.
2 P-3: Businesses should respect and E-1c: Spending on measures towards well-being of
promote the well-being of all employees, employees and workers (including permanent and other
including those in their value chains. than permanent).
E-11: Details of safety related incidents:
• Loss Time Injury Frequency Rate (LTIFR) (per one
million person hours worked) (employees and workers)
• Total recordable work related injuries (LTI) (employees
and workers)
• Number of fatalities (employees and workers)
• High consequence work-related injury or ill-health
(excluding fatalities) (employees and workers)
3 P-5: Businesses should respect and E-3b: Gross wages paid to females as % of total wages
promote human rights. paid by the entity.
E-7: Complaints filed under the Sexual Harassment
of Women at Workplace (Prevention, Prohibition and
Redressal) Act, 2013:
• Total Complaints on Sexual Harassment (POSH)
reported
• Complaints on POSH as a % of female employees /
workers
• Complaints on POSH upheld
4 P-6: Businesses should respect and E-1: Details of total energy consumption (in Joules or
make efforts to protect and restore the multiples) and energy intensity.
environment. (Refer Note 1) • Total Energy consumed
• Total energy consumed from renewable and
nonrenewable sources (Total electricity consumption,
total fuel consumption and Energy consumption
through other sources).
• Energy intensity per rupee of turnover (Total energy
consumed / Revenue from operations)
• Energy intensity per rupee of turnover adjusted for
Purchasing Power Parity (PPP) (Total energy consumed
/ Revenue from operations adjusted for PPP)
120

No
E-3: Disclosures related to water withdrawal and

consumption.
• Water withdrawal by source (in kiloliters)
• Total volume of water withdrawal (in kiloliters)
• Total volume of water consumption (in kiloliters)
• Water intensity per rupee of turnover (Total water
consumed / Revenue from operations)
• Water intensity per rupee of turnover adjusted
for Purchasing Power Parity (PPP) (Total Water
consumption / Revenue from operations adjusted for
PPP)
E-4: Details related to water discharged.
• Water Discharge by destination and level of treatment
(in kiloliters)
• Total Water discharged (in Kilolitres)
E-7: Details of greenhouse gas emissions (Scope 1 and
Scope 2 emissions) and its intensity.
• Total Scope 1 emissions (Break-up of the GHG into CO2,
CH4, N2O, HFCs, PFCs, SF6, NF3, if available)
• Total Scope 2 emissions (Break-up of the GHG into CO2,
• Total Scope 1 and Scope 2 emission intensity per rupee
of turnover (Total Scope 1 and Scope 2 GHG emissions /
Revenue from operations)
• Total Scope 1 and Scope 2 emission intensity per rupee
of turnover adjusted for Purchasing Power Parity (PPP)
(Total Scope 1 and Scope 2 GHG emissions / Revenue from
operations adjusted for PPP)
E-9: Details related to waste management by the entity.

• Total waste generated (in metric tons)
• Waste intensity per rupee of turnover (Total waste
generated / Revenue from operations)
• Waste intensity per rupee of turnover adjusted for
Purchasing Power Parity (PPP) (Total waste generated /
Revenue from operations adjusted for PPP)
• For each category of waste generated, total waste
recovered through recycling, re-using or other recovery
operations (in metric tons)
• For each category of waste generated, total waste
disposed by nature of disposal method (in metric tons)
121

No
5 P-8: Businesses should promote inclusive E-4: Percentage of input material (inputs to total inputs by
growth and equitable development. value) sourced from suppliers.
• Directly sourced from MSMEs/small producers
• Directly from within India
E-5: Job creation wages paid to persons employed

(including employees or workers employed on a permanent
or non-permanent / on contract basis), as % of total wage
cost.
6 P-9: Businesses should engage with and E-7: Information relating to data breaches.
provide value to their consumers in a
• Number of instances of data breaches
responsible manner.
• Percentage of data breaches involving personally
identifiable information of customers
• Impact, if any, of the data breaches
Note:
1. Indicators under Principle 6 are reported for leased offices under operational control of the Company.
122
INDEPENDENT PRACTITIONER’S LIMITED ASSURANCE REPORT ON IDENTIFIED

SUSTAINABILITY INFORMATION IN ZOMATO LIMITED’S BUSINESS RESPONSIBILITY
AND SUSTAINABILITY REPORT
To the Board of Directors • Business Responsibility and Sustainability

of ZOMATO LIMITED Reporting Requirements for listed entities
1.
We have undertaken to perform limited CIR/P/2023/120 dated July 11, 2023; and
assurance engagement, for ZOMATO LIMITED
(the “Company”) vide our engagement letter •
dated March 21, 2024 in respect of the agreed 2/P/CIR/2023/122 dated July 12, 2023 and
Sustainability Information listed below (the clarifications thereto issued by SEBI.
“Identified Sustainability Information”) in
accordance with the Criteria stated in paragraph 3 4. Management’s Responsibility
below. This Sustainability Information is included The Company’s management is responsible for
in the Business Responsibility and Sustainability selecting or establishing suitable criteria for
Report (the “BRSR” or the “Report”) within the preparing the Sustainability Information including
Annual Report of the Company for the year ended the reporting boundary of the Report, disclosing
March 31, 2024. This engagement was conducted environmental information basis operational
by our multidisciplinary team including assurance control approach, taking into account applicable
practitioners, environmental engineers and laws and regulations, if any, related to reporting
specialists. on the Sustainability Information, identification
of key aspects, engagement with stakeholders,
2. Identified Sustainability Information content, preparation and presentation of
Our scope of limited assurance consists of the the Identified Sustainability Information in
Sustainability Information (Environment, Social accordance with the Criteria. This responsibility
and Governance indicators) listed in the Appendix includes design, implementation and
I to our report. The reporting boundary of the maintenance of internal control relevant to the
Report is as disclosed in Question 13 Section A: preparation of the Report and the measurement
General Disclosure of the BRSR with exceptions of Identified Sustainability Information, which is
disclosed by way of note under respective free from material misstatement, whether due to
questions of the BRSR, where applicable. fraud or error.
Our limited assurance engagement was with 5. Inherent limitations

respect to the year ended March 31, 2024 The absence of a significant body of established
information and we have not performed any practice on which to draw to evaluate and measure
procedures with respect to earlier periods and, non-financial information allows for different,
therefore, do not express any conclusion thereon. but acceptable, measures and measurement
techniques and can affect comparability between
3. Criteria companies.
The Criteria used by the Company to prepare
the Identified Sustainability Information is listed 6. Our Independence and Quality Control
below: We have maintained our independence and
confirm that we have met the requirements
• Regulation 34(2) (f) of the Securities and of the Code of Ethics issued by the Institute of
Exchange Board of India (the “SEBI”) (Listing Chartered Accountants of India (the “ICAI”) and
Obligations and Disclosure Requirements), the SEBI Circular No. SEBI/HO/CFD/CFD-SEC-
Regulations, 2015 as amended; 2/P/CIR/2023/122 dated July 12, 2023, and its
123
clarifications thereto and have the required necessary in the circumstances, and evaluating
competencies and experience to conduct this the overall presentation of the Identified
assurance engagement. Sustainability Information.
We apply Standard on Quality Control (“SQC”) 1, A limited assurance engagement is substantially
“Quality Control for Firms that Perform Audits less in scope than a reasonable assurance
and Reviews of Historical Financial Information, engagement in relation to both the risk assessment
and Other Assurance and Related Services procedures, including an understanding of
Engagements”, and accordingly maintain internal control, and the procedures performed
a comprehensive system of quality control in response to the assessed risks.
including documented policies and procedures
regarding compliance with ethical requirements, The procedures we performed were based on our
professional standards, and applicable legal and professional judgment and included inquiries,
regulatory requirements. observation of processes performed, inspection
of documents and evaluating the appropriateness
7. Our Responsibility of quantification methods and reporting policies
Our responsibility is to express a limited assurance and agreeing with underlying records.
conclusion on the Identified Sustainability
Information listed in Appendix I based on the Given the circumstances of the engagement, in
procedures we have performed and evidence we performing the procedures listed above, we:
have obtained. • Obtained an understanding of the Identified
Sustainability Information and related
We conducted our engagement in accordance
disclosures;
with the Standard on Sustainability Assurance
Engagements (SSAE) 3000, “Assurance • Obtained an understanding of the assessment
Engagements on Sustainability Information”, criteria and their suitability for the evaluation
and Standard on Assurance Engagements (SAE) and/or measurements of the Identified
3410 “Assurance Engagements on Greenhouse Sustainability Information;
Gas Statements” (together the “Standards”), both
issued by the Sustainability Reporting Standards • Made inquiries of Company’s Management,
Board (the “SRSB") of the ICAI. including the sustainability team, EHS
team compliance team, human resources
These Standards require that we plan and perform team amongst others and those with the
our engagement to obtain limited assurance responsibility for preparation of the Report;
about whether the Identified Sustainability
• Obtained an understanding of the key systems
Information is free from material misstatement.
and processes for recording, processing and
As part of limited assurance engagement, in reporting on the Identified Sustainability
accordance with the Standard, we exercise Information at locations /offices on a sample
professional judgment and maintain professional basis
skepticism throughout the engagement. • Based on the above understanding and
the risks that the Identified Sustainability
8. Limited Assurance Information may be materially misstated,
A limited assurance engagement involves determined the nature, timing and extent of
assessing the suitability in the circumstances of further procedures;
the Company’s use of the Criteria as the basis for
the preparation of the Identified Sustainability • Reviewed the Company’s process for collating
Information as listed in Appendix I, assessing the the sustainability information through
risks of material misstatement of the Identified agreeing or reconciling the sustainability
Sustainability Information whether due to fraud information with the underlying records on
or error, responding to the assessed risks as a sample basis; and
124
•
Reviewed the consolidation working 10. Limited Assurance Conclusion
consisting of the offices under the reporting Based on the procedures we have performed
boundary on a sample basis for ensuring the and the evidence we have obtained, nothing has
completeness of data being reported. come to our attention that causes us to believe
that the Identified Sustainability Information
The procedures performed in a limited assurance listed in Appendix I and presented in the Report
engagement vary in nature and timing from, for year ended March 31, 2024 are not prepared,
and are less in extent than for, a reasonable in all material respects, in accordance with the
assurance engagement. Consequently, the level Criteria as stated in paragraph 3 above.
of assurance obtained in a limited assurance
engagement is substantially lower than the 11. Restriction on use
assurance that would have been obtained had we Our Limited Assurance report has been prepared
performed a reasonable assurance engagement. and addressed to the Board of Directors of the
Accordingly, we do not express a reasonable Company at the request of the Company solely,
assurance opinion about whether the Identified to assist the Company in reporting on Company’s
Sustainability Information have been prepared, sustainability performance and activities.
in all material respects, in accordance with the Accordingly, we accept no liability to anyone,
Criteria. other than the Company. Our Limited Assurance
report should not be used for any other purpose
We believe that the evidence we have obtained is or by any person other than the addressees of
sufficient and appropriate to provide a basis for our report. We neither accept nor assume any
our limited assurance conclusion. duty of care or liability for any other purpose or
to any other party to whom our report is shown or
9. Exclusions into whose hands it may come without our prior
Our assurance scope excludes the following and consent in writing.
therefore we do not express a conclusion on:
For Deloitte Haskins & Sells LLP
•
Aspects of the Reports and the data/ Chartered Accountants
information (qualitative or quantitative) (Firm’s Registration No. 117366W / W-100018)
other than the Identified Sustainability
Information; and Sd/-
Pratiq Shah
• The statements that describe expression of Partner
opinion, belief, aspiration, expectation, aim, Place: Mumbai Membership No. 111850
or future intentions provided by the Company. Date: August 01, 2024 UDIN: 24111850BKJLKF1597
125
APPENDIX I
Identified Sustainability Information subject to Limited assurance
Sr. Reporting Standard Reference Description of Indicator

No
BRSR
Section A: General Disclosure
1 Employees A-20 (a): Details of Employees and workers (including
differently abled) as at the end of Financial Year
A-20 (b): Details of Differently abled Employees and
workers at the end of the financial year
2 Participation/Inclusion/Representation of A-21: Participation/ Inclusion/ Representation of women
women in- Board of Directors and Key Management Personnel
3 Turnover rate for permanent employees and A-22: Turnover rate for permanent employees and workers
workers
4 Transparency and Disclosures Compliances A-25: Complaints/Grievances on any of the principles
(Principles 1 to 9) under the National Guidelines on
Responsible Business Conduct
Section C: Principle [P] Wise Performance Disclosure Essential Indicators [E]
5 Principle 1: Businesses should conduct and E-1: Percentage coverage by training and awareness
govern themselves with integrity, and in programmes on any of the Principles during the financial
a manner that is Ethical, Transparent and year for Board of Directors, KMPs, Employees other than
Accountable. BoDs and KMPs, Workers
E-6: Details of complaints with regard to conflict of
interest for Directors and KMPs
6 Principle 3: Businesses should respect and E-1 (a): Details of measures for the well-being of employees
promote the well-being of all employees,
including those in their value chains. E-1 (b): Details of measures for the well-being of workers
E-2: Details of retirement benefits, for Current FY
E-5: Return to work and Retention rates of permanent
employees and workers that took parental leave.
E-7: Membership of employees and worker in
association(s) or Unions recognised by the listed entity.
E-9: Details of performance and career development
reviews of employees and worker
E-13: Number of Complaints on working conditions and
Health & Safety made by employees and workers.
E-14: Assessments for the year on working conditions and
Health & Safety
126
Sr. Reporting Standard Reference Description of Indicator

No
7 Principle 5: Businesses should respect and E-1: Employees and workers who have been provided
promote human rights. training on human rights issues and policy(ies) of the
entity.
E-2: Details of minimum wages paid to employees and
workers.
E-3 (a): Median remuneration / wages for Board of
Directors (BOD), Key Managerial Personnel, Employees
other than BOD and KMP, and Workers
E-6: Number of Complaints made by employees and
workers: on Sexual Harassment, Discrimination at
workplace, Child Labour, Forced Labour/ Involuntary
Iabour, Wages and Other human rights related issues
E-10: Assessments of your plants and offices for the year
on: Sexual Harassment, Discrimination at workplace, Child
Labour, Forced Labour/ Involuntary Iabour, Wages and
Other human rights related issues
8 Principle 6: Businesses should respect and L-2: Details of total Scope 3 emissions and its intensity:
make efforts to protect and restore the
environment. • Total Scope 3 emissions (Break-up of the GHG into CO2,
• Total Scope 3 emission intensity per rupee of turnover

9 Principle 9: Businesses should engage with E-3: Number of consumer complaints in respect of:
and provide value to their consumers in a
responsible manner. Data Privacy, Advertising, Cyber security, Delivery of
essential services, Restrictive Trade Practices, Unfair
Trade Practices and Other
127
Company Overview Statutory Reports: CGR Financial Statements
Report on Corporate Governance (CGR)

1. Company’s philosophy on Corporate We believe that achieving our goals requires the highest
Governance standards of corporate behavior towards everyone
we collaborate with, the communities we impact, and
The Company’s corporate governance philosophy
is based on the principles of integrity, transparency, the environment we shape. This commitment drives
accountability, and responsible corporate conduct to consistent, competitive performance and long-term
enhance investor confidence and protect the interests value creation for our shareholders, our people, and
of all our stakeholders. our business partners.
Corporate governance is intrinsic part of our values, We are dedicated to defining, following, and practicing
guiding us towards best business practices and defining the highest levels of corporate governance across
how we interact and operate with our stakeholders on all our business functions. We continuously adopt
our path to sustainability. We believe that effective and adhere to globally recognized best practices,
corporate governance practices constitute the strong benchmarking ourselves against the highest
foundation on which successful organizations are built standards.
to last. In order to adhere highest standards of corporate
governance practices, Company’s aims to comply with
2. Board of Directors
all the applicable laws & regulations in letter and spirit The board of directors provide guidance to the
and ensure sustainable behavior in all engagements. In management and directs, supervises, and oversees
addition to compliance with regulatory requirements, the activities of the Company. The Board ensures
the Company endeavors to ensure that the highest that the Company’s corporate governance policies
standards of ethical and responsible conduct are met encompass the corporate strategy, risk management,
throughout the organization. accountability, transparency, business responsibility,
sustainability and ethical business practices. The
The Company’s Board exercises independent Board consists of eminent individuals, with experience
judgement and plays a vital role in the oversight of in business management, finance, human resource,
the Company’s affairs. Board comprises of qualified corporate governance, public policy and industry. The
and expert professionals including independent Company is managed by the Board in coordination with
directors who are mandated to ensure robust levels the senior management of the Company. The detailed
of governance across all tiers of the Company. While profile of the directors is available on the website of
day-to-day operations are managed by a competent the Company and can be accessed at https://www.
team under the Board’s supervision, various zomato.com/investor-relations/governance.
Committees have been constituted to focus on well-
defined areas of responsibility, delivering time-bound i. Composition and inter-se relationship
recommendations. The size of the Board is commensurate with the size
and business of the Company. The Board continues
The Company’s corporate governance framework to maintain an optimum combination of executive,
is aligned with the requirements under the Act and non-executive, independent and women directors
the various regulations and guidelines issued by as stipulated under the Act and the SEBI Listing
the SEBI. The Company has also adopted various Regulations.
Codes/Policies towards achieving the best corporate
governance practices which inter alia includes As on date, the Board comprises seven directors, which
Code of Conduct for Board of Directors and Senior includes 1 (one) managing director & chief executive
Management Personnel, Vigil Mechanism and Whistle- officer, 1 (one) non-executive and nominee director
Blower Policy, Code of Conduct for Prevention of and 5 (five) non-executive independent directors, out
Insider Trading and Policy on materiality of Related of which 4 (four) are women directors. None of the
Party Transactions and dealing with Related Party directors have an inter-se relationship and each one
Transactions. of them is independent of the other.
128
ii. Board Meetings

The Board meetings are held at regular intervals to inter-alia evaluate, review and approve, strategies, operational
plans, policies, overall business and financial performance, quarterly/ annual financial results of the Company.
The key issues and decisions arising out of various committee meetings are briefed to the Board members in the
subsequent meetings. The notice and detailed agenda of Board meetings, along with relevant notes and other
material information, are sent in advance to each director. This process ensures timely and informed decisions
by the Board.
During the financial year under review, the Board met 6 (six) times. The details of directors’ attendance at the
Board meetings and the annual general meeting held during the year are given below:
Name of director Date of Board Date of

meeting AGM
May 19, August 3, November January February March 21, August 30,
2023 2023 3, 2023 31, 2024 8, 2024 2024 2023
Kaushik Dutta
Aparna Popat Ved
Deepinder Goyal
Gunjan Tilak Raj Soni
Namita Gupta
Sanjeev Bikhchandani
Sutapa Banerjee
Present Absent
iii. Category, Directorships, Committee Chairmanships/ Memberships and Shareholding

of non-executive director
Category of directors on the Board of the Company, their shareholding in the Company and their directorship
and chairmanships/memberships of committee in other companies, as on March 31, 2024, are given below:
Name of Promoter/ Category of No. of other No. of other company’s Shareholding No. of
director Non- director company’s board committees in in the convertible
promoter directorship1 which director Company instrument
is a member/ held in the
chairperson2 Company3
Member Chairperson
Kaushik Non- Non- Executive 5 4 3 0 Nil

Dutta4 5 6 Promoter and Independent
Director
Aparna Non- Non- Executive 0 0 0 0 Nil
Popat Ved5 Promoter and Independent
Director
129
Name of Promoter/ Category of No. of other No. of other company’s Shareholding No. of
director Non- director company’s board committees in in the convertible
promoter directorship1 which director Company instrument
is a member/ held in the
chairperson2 Company3
Member Chairperson
Deepinder Non- Managing Director 0 0 0 36,94,71,500 Nil

Goyal Promoter & Chief Executive
Officer
Gunjan Tilak Non- Non- Executive 0 0 0 0 Nil
Raj Soni Promoter and Independent
Director
Namita Gupta Non- Non- Executive 1 1 1 0 Nil
Promoter and Independent
Director
Sanjeev Non- Non- Executive and 9 0 0 0 Nil
Bikhchandani7 Promoter Nominee Director
Sutapa Non- Non- Executive 7 8 1 0 Nil
Banerjee Promoter and Independent
Director
1
Directorships excludes foreign companies, companies formed under section 25 of the Companies Act, 1956/ section 8 of the Companies Act, 2013, private companies
and Zomato Limited.
2
Membership(s)/ chairpersonship(s) of the audit committee and stakeholders’ relationship committee in other public companies and deemed public companies have been
considered and disclosed above.
3
Company has not issued any convertible instruments during the year under review. Hence disclosure to that extent is not applicable.
4
Kaushik Dutta ceased to be independent director from the Board of HCL Infosystems Limited (“ HCL”) w.e.f. the closure of business hours of March 31, 2024 and also ceased
to be independent director from the Board of Newgen Software Technologies Limited (“ Newgen”) w.e.f. July 8, 2024. Accordingly, the directorship & committee position
in HCL and Newgen are included in the above table.
5
Kaushik Dutta and Aparna Popat Ved are appointed as independent director on the Board of Hero Fincorp Limited (“ Hero”) w.e.f. June 27, 2024. Accordingly, the directorship
& committee position, if any, in Hero is excluded in the above table.
6
Zinka Logistics Solutions Private Limited, being a company in which Kaushik Dutta held directorship converted into public limited company i.e. Zinka Logistics Solutions
Limited (“ Zinka”) subsequent to the end of financial year 2023-24. Therefore, his directorship/ committee position, if any, in Zinka is not included in the table above.
7
Nominee of Info Edge (India) Limited.
iv. Other listed companies wherein Director holds directorship

Name of director Name of other listed companies where Category of directorship
director holds directorship in other companies
Kaushik Dutta1 PB Fintech Limited Independent Director
HCL Infosystems Limited Independent Director
Newgen Software Technologies Limited Independent Director
Aparna Popat Ved NIL Not applicable
Deepinder Goyal NIL Not applicable
Gunjan Tilak Raj Soni NIL Not applicable
Namita Gupta Honasa Consumer Limited Independent Director
Sanjeev Bikhchandani Info Edge (India) Limited Whole-time Director
Sutapa Banerjee Godrej Properties Limited Independent Director
Polycab India Limited Independent Director
Ideaforge Technology Limited Independent Director
Camlin Fine Sciences Limited Independent Director
JSW Holdings Limited Independent Director
1
Kaushik Dutta ceased to be independent director from the Board of HCL Infosystems Limited (“ HCL”) w.e.f. the closure of business hours of March 31, 2024 and also ceased
to be independent director from the Board of Newgen Software Technologies Limited (“ Newgen”) w.e.f. July 8, 2024. Accordingly, the directorship in HCL and Newgen are
included in the above table.
130
v. Independent Directors
During the year under review, the Board consists of 5 (five) independent directors. None of the independent
directors have resigned before expiry of his/ her tenure during the financial year.
Each independent director of the Company has submitted declaration of their independence under Section
149(6) of the Act read with Schedule IV thereunder and Regulation 16 of the SEBI Listing Regulations, and
has also given confirmation that he/ she is not aware of any circumstance or situation, which exist or may
be reasonably anticipated, that could impair or impact its ability to discharge its duties with an objective
independent judgment and without any external influence.
Accordingly, based on the declarations received from all independent directors, the Board has confirmed that,
in their opinion, independent directors of the Company are persons of integrity, possesses relevant expertise
and experience and fulfil the conditions specified in the Act and SEBI Listing Regulations and are independent
of the management.
vi. Separate Meeting of Independent Directors

The independent directors met separately on March 20, 2024, without the presence of non-independent directors
or representatives of management. The independent directors, inter-alia reviewed and evaluated the aspects
related to the performance of non-independent directors, the Board and the Chairman, flow of information to
the Board, performance of the Company, its leadership strengths, governance and compliance etc.
vii. Core skills/ expertise/ competence as identified by board of directors and the directors
possessing such skills/ expertise/ competence
Name of Kaushik Sanjeev Deepinder Sutapa Gunjan Namita Aparna
director Dutta Bikhchandani Goyal Banerjee Tilak Raj Soni Gupta Popat Ved
Skills and experience
P P P P P P P
P P P P P P P
P P P P P P P
P P P P P P P
P - - P P P P
P P P P P P -
P P P P P P P
Leadership experience including general management, corporate strategic planning, understanding of organizational systems &
processes.
Background in the field of service industry, marketing, technology and e-commerce, including its entire value chain.
Experience in finance, tax, risk management, public policy, human resource, legal, compliance, corporate governance and communication.
Relevant experience in leading sustainability, ESG outlook and corporate social responsibility of a large corporate.
Knowledge of global business environments, economic & social conditions, and awareness of global market opportunities.
Experience of evaluating and managing risks and concerns related to cyber security.
Experience of building long term effective stakeholder’s engagements and driving corporate ethics and values.
131
viii. Familiarisation Programmes for has been formed and further to keep abreast with the
Independent Directors changing business environment and the statutes.
Under the familiarisation programmes for independent Committee composition conforms to applicable
directors, the Company periodically presents updates laws and regulations. Minutes of all the committee
on overall business performance, business strategy meetings are placed before the Board for information/
and plans, enterprise risk management, technology, noting. All decisions pertaining to the constitution of
human resources, governance policies, sustainability, committees and its terms of reference/ charter are
regulatory developments and such other matters taken by the Board.
as deemed necessary. These programmes offer an
Brief terms of reference, composition of these
opportunity of significant interactions between the
committees and other relevant information as
Board and senior leadership team of the Company.
required, are provided below:
Such familiarization programmes are carried out
through presentations made in Board and committee I. Audit Committee
meetings of the Company at regular intervals and The terms of reference and composition of the Audit
through off-sites as organized by the Company. Committee are in compliance with Section 177 of the
Act and Regulation 18 of the SEBI Listing Regulations
Details with respect to familiarization programmes as detailed below:
for independent directors are available at the website
of the Company and can be accessed at https://b. a. Brief terms of reference
zmtcdn.com/investor-relations/80fad87df56cde65 to review and oversee management’s financial
2c865dbeee25f34e_1713873637.pdf. reporting process and to ensure accurate and
timely disclosures, with the highest levels of
ix. Certificate under Regulation 34 of SEBI transparency, integrity and quality of financial
Listing Regulations reporting;
None of the directors on the Board of the Company have • to review with management quarterly/ annual
been debarred or disqualified from being appointed financial statements and limited review/ auditor’s
or continue as director of the Company by the SEBI, report before submission to the Board with detailed
Ministry of Corporate Affairs, or any such statutory discussion and overview on the compliance with
authority as on March 31, 2024. A certificate to this accounting standards, disclosure of related party
effect has been provided by M/s. Chandrasekaran transactions and other legal requirements relating
Associates, Company Secretaries, (Reg. No.: to financial statements;
P1988DE002500) and the same forms part of this
report as Annexure – V. • t o oversee the work carried out by auditors and
note the processes and safeguards employed by
3. Committees of the Board each of them and to consider their appointment
and compensation portion;
As on March 31, 2024, the Board has 6 (six)
committees: Audit Committee, Nomination and • to review the processes and controls including
Remuneration Committee, Stakeholders’ Relationship compliance with laws, corporate governance, code
Committee, Risk Management Committee, Corporate of practices and procedures for fair disclosure
Social Responsibility Committee and Investment of unpublished price sensitive information, vigil
Committee. Further, during the financial year under mechanism and whistleblower policy and related
review, the Initial Public Offer Committee has been cases thereto;
dissolved w.e.f. May 19, 2023. • t o evaluate the internal controls including internal
financial controls and risk management systems;
Each committee has its defined terms of reference/
charter and has been assigned with scope of • t o perform such other activities as per terms of
responsibilities, duties and authorities, which are reference approved by the Board and provided
reviewed by the Board in order to determine the under the Act, SEBI Listing Regulations, or
appropriateness of purpose for which the committee applicable laws and regulations, on a regular basis.
132
b. Composition
Name of member Position Category
Sutapa Banerjee Chairperson Independent Director

Kaushik Dutta Member Independent Director
Namita Gupta Member Independent Director
Sanjeev Bikhchandani Member Nominee Director
Sandhya Sethia, Company Secretary, acts as secretary to the Audit Committee.
c. Number of meetings held and attendance of the members

During the financial year under review, the committee met 4 (four) times. The details of committee meetings
held and attended by the members are given below:
Name of member Details of meeting(s)
May 19, August 3, November 3, February 8,

2023 2023 2023 2024
Sutapa Banerjee
Kaushik Dutta
Namita Gupta
Present Absent
II. Nomination and Remuneration Committee (“NRC”)

The terms of reference and composition of the NRC are in compliance with Section 178 of the Act and Regulation
19 of the SEBI Listing Regulations as detailed below:
a. Brief terms of reference

• to review and administer employee stock option plans of the Company;
• t o determine Company’s policy on remuneration payable to directors and compensation payable to key
managerial personnel and senior management personnel of the Company and to recommend their
remuneration to Board;
• t o oversee the evaluation process of performance of the Board, its committees, chairman and individual
directors;
• t o identify, screen and review the individuals qualified to serve as directors, key managerial personnel and
senior management personnel;
• t o perform such other activities as per terms of reference approved by the Board and provided under the Act,
SEBI Listing Regulations, or applicable laws and regulations, on a regular basis.
133
b. Composition
Namita Gupta Chairperson Independent Director

During the financial year under review, the NRC met 5 (five) times. The details of committee meetings held and
attended by the members are given below:
April July November January February

25, 2023 31, 2023 3, 2023 31, 2024 8, 2024
Namita Gupta
Kaushik Dutta
Present Absent
d. Performance evaluation
In terms of the requirements of the Act and SEBI Listing Regulations, performance evaluation
of independent directors was carried out during the year under review based on the criteria
determined by the NRC under the Policy for evaluation of the performance of the Board of Directors
available on the Company’s website and which can be accessed at https://b.zmtcdn.com/data/file_
assets/54bdfdf0cf687a466c8a3f91b68921a61625994002.pdf.
The Company engaged Nasdaq Governance Solutions, a global leader in Board Evaluations for review of the
performance of the chairman, other non-independent directors, Board and committees by the directors for
the financial year 2023-24. The process involved a questionnaire-based approach followed by independent
one-on-one discussions with non-executive directors by the Nasdaq.
This comprehensive review delved into the nuanced dynamics of the Board, scrutinising aspects such as Board
composition, strategic participation, quality of disclourse, leadership efficacy, and overall organisational vitality.
The outcome of the overall evaluation was shared by Nasdaq to the Chair of NRC and further the same was
shared with the NRC and the Board of the Company.
III. Stakeholders’ Relationship Committee (“SRC”)

The terms of reference and composition of the SRC are in compliance with Section 178 of the Act and Regulation
20 of the SEBI Listing Regulations as given below:

• t o consider and resolve grievances of the shareholders including complaints related to non-receipt of annual
reports/ statutory notices etc.;
• t o perform such other activities as per terms of reference approved by the Board and provided under the Act,
SEBI Listing Regulations, or applicable laws and regulations, on a regular basis.
134
b. Composition
Sanjeev Bikhchandani Chairman Nominee Director

Deepinder Goyal Member Managing Director & Chief Executive Officer
The Board has appointed Sandhya Sethia, Company Secretary as the Compliance Officer of the Company.

During the financial year under review, the SRC met 1 (one) time. The details of committee meeting held and
Name of member Details of meeting
February 7, 2024
Namita Gupta
Deepinder Goyal
Present
d. The details of shareholders’ complaints, during the financial year ended on March 31, 2024 are
as under:
Pending at the beginning of the financial year 1
Number of shareholders’ complaints received during the financial year 490*
Number of complaints not solved to the satisfaction of shareholders NIL
Number of pending complaints NIL
*407 out of 490, were requests received for a hard copy of annual report from the members of the Company.
IV. Risk Management Committee (“RMC”)

The terms of reference and composition of the RMC are in compliance with Regulation 21 of the SEBI Listing
Regulation as detailed below:

• to frame, implement, review and monitor the risk management plan for the Company;
• t o ensure that appropriate methodology, processes and systems are in place to monitor and evaluate risks
associated with the business of the Company;
• t o monitor and oversee implementation of the risk management policy, including evaluation of the adequacy
of risk management systems;
• to periodically review the risk management policy;
• t o perform such other activities as per terms of reference approved by the Board and provided under the
Act, SEBI Listing Regulations, or applicable laws and regulations, on a regular basis.
135
b. Composition
Deepinder Goyal Chairman Managing Director & Chief Executive Officer

Gunjan Tilak Raj Soni Member Independent Director

During the financial year under review, the RMC met 2 (two) times. The details of committee meetings held and

May 12, 2023 October 31, 2023
Deepinder Goyal
Kaushik Dutta
Namita Gupta
Present Absent
V. Corporate Social Responsibility Committee (“CSR Committee”)

The terms of reference and composition of the CSR Committee are in compliance with Section 135 of the Act
as detailed below:

• t o formulate and recommend to the Board, the CSR Policy, indicating therein the CSR activities to be
undertaken;
• to review updates on ESG strategy and reporting;
• to review the performance of the ESG goals.
b. Composition

Aparna Popat Ved Member Independent Director
Gunjan Tilak Raj Soni Member Independent Director
136

During the financial year under review, the committee met 2 (two) times. The details of committee meetings
held and attended by the members are given below:

July 31, 2023 February 7, 2024
Deepinder Goyal
Namita Gupta
Aparna Popat Ved
Present
VI. Investment Committee (“IC”)

The Board voluntarily constituted the IC. The terms of reference, as effective from May 19, 2023, and
composition of IC are detailed below:
a. Terms of reference
• t o review investment portfolio and to assess the performance of group’s investments in context of business
and operational performance as well as changing market environment; and
• to review and approve the amendment in investment policy.
b. Composition

Akshant Goyal Member Chief Financial Officer
Sutapa Banerjee Member Independent Director
VII. Initial Public Offer Committee (“IPO Committee”)

The Board voluntarily constituted the IPO Committee inter alia to approve and undertake various activities in
relation to the initial public offer. Further, IPO Committee has been dissolved w.e.f. May 19, 2023.
a. Composition
The composition of the IPO Committee till the date of dissolution is given below:

137
VIII. Particulars of senior management including the changes therein since the close
of the previous financial year
a. Senior management as on March 31, 2024:
Name of employee Designation
Albinder Singh Dhindsa Founder & CEO - Blinkit
Akshant Goyal Chief Financial Officer
Akriti Chopra Co - Founder and Chief People Officer
Rakesh Ranjan CEO - Food Ordering and Delivery Business
Rishi Arora CEO - Hyperpure
Rinshul Chandra COO - Food Ordering and Delivery Business
Damini Bhalla General Counsel
Sandhya Sethia Company Secretary
Hemal Jain Head - Business Finance
Kunal Swarup Head - Corporate Development
Deepak Ahluwalia Head - Governance, risk, compliance, internal audit
Ali Kausar Siddiqui Finance Controller
Anjalli Ravi Kumar Chief Sustainability Officer
b. Changes in the senior management during the financial year ended March 31, 2024:
Sr. Name of employee Designation Effective date
No.
1. Albinder Singh Dhindsa Founder & CEO - Blinkit May 19, 2023
2. Rakesh Ranjan CEO - Food Ordering and Delivery Business June 1, 2023
3. Rishi Arora CEO - Hyperpure June 1, 2023
4. Rinshul Chandra COO - Food Ordering and Delivery Business June 1, 2023
5. Hemal Jain Head - Business Finance May 19, 2023
6. Kunal Swarup Head - Corporate Development May 19, 2023
7. Deepak Ahluwalia Head – Governance, risk, compliance, internal audit May 19, 2023
8. Ali Kausar Siddiqui Finance Controller May 19, 2023
Further, during the year under review, due to change in the role Daminee Sawhney VP, Operations – People
Team has ceased to be the senior management personnel and Surobhi Das, VP, Category Management has
ceased to be associated with the Company.
4. Remuneration to directors
i. All pecuniary relationship or transactions of the non-executive directors vis-à-vis the
Company:
During the year under review, apart from payment of annual remuneration, sitting fees and reimbursement of
expenses, there were no pecuniary relationships or transactions with non-executive independent directors
of the Company except with Sutapa Banerjee.
Further during the year under review, Sutapa Banerjee provided training to certain employees of Zomato
Limited. Company paid INR 4.5 Lakhs in addition to annual remuneration and sitting fees paid to her for the
FY 2023-24.
Also, Company has not paid any amount as remuneration and sitting fees to non-executive nominee director
of the Company.
During the financial year under review, the annual remuneration payable to a single non-executive director
did not exceed fifty per cent of the total annual remuneration payable to all the non-executive directors of
the Company.
138
ii. Criteria of making payments to non-executive directors

The criteria of making payments to non-executive directors is disclosed on the website of the Company and can
be accessed at https://b.zmtcdn.com/data/file_assets/d334ce29b2ed635dbd531d5c92fda1221625837674.
pdf.
iii. Disclosure with respect to remuneration

a. Details of remuneration to Deepinder Goyal, Managing Director & Chief Executive Officer of the
Company are provided below:
Particulars Remuneration
Fixed Salary Nil1
Variable Salary During the year under review, there was no variable salary paid to him.
Statutory benefits Provident fund and gratuity as per the Company’s policy and applicable law.
Service contracts, notice The current tenure of office of Deepinder Goyal, Managing Director & Chief
period, severance fees Executive Officer is 5 years starting from March 24, 2021, and the terms of
severance, notice period and termination will be as per the employment
agreement entered with him by the Company.
Stock option details, if any and During the year under review, no fresh stock options have been granted to
whether issued at a discount as well him.
as the period over which accrued
and over which exercisable
1
Deepinder Goyal has voluntarily waived his salary for a period of 36 months starting from April 1, 2021.
b. Remuneration to non-executive independent directors

(i) The details of fixed annual remuneration and sitting fees paid to the non-executive independent directors
of the Company for attending the meetings of the Board, committees and meeting of independent directors
during the financial year are as follows:
(Amount in Crore)
Name of director Fixed annual remuneration Sitting fees
Kaushik Dutta 0.24 0.18
Sutapa Banerjee 0.24 0.12
Namita Gupta 0.24 0.20
Aparna Popat Ved 0.24 0.09
Gunjan Tilak Raj Soni 0.24 0.11
(ii) The details of specific service contracts, notice period, etc. are governed by the appointment letter issued
to respective independent director at the time of his / her appointment. The annual remuneration paid to
the non-executive independent directors consists of fixed component and there is no performance linked
incentive applicable.
5. General Body Meetings
i. Details of last three annual general meetings of the Company held are given under:
Date Time (IST) Whether special Deemed Venue/ Venue
resolution passed
August 30, 2023 04:30 P.M Yes Ground Floor 12A, 94 Meghdoot,
Nehru Place, New Delhi -110019
August 30, 2022 04:00 P.M. No Ground Floor 12A, 94 Meghdoot,
July 15, 2021 01:00 P.M. No Ground Floor 12A, 94 Meghdoot,
139
ii. Postal Ballot

During the financial year under review, no special resolution was passed through postal ballot. However, the
Company passed 2 (two) special resolutions through postal ballot on June 29, 2024 (“Postal Ballot”). The details
of special resolutions passed through Postal Ballot is as under:
Sr. Subject matter of No. of votes Votes cast in favour Votes cast against
No. the resolution polled No. of votes % No. of votes %
1. Approval for formulation, adoption and 6,72,64,30,453 5,07,72,40,418 75.482 1,64,91,90,035 24.518
implementation of Zomato Employee
Stock Option Plan 2024 for grant of
employee stock options to the employees
of the Company under this plan
2. Approval for formulation, adoption and 6,72,64,29,367 5,07,72,31,646 75.482 1,64,91,97,721 24.518
implementation of Zomato Employee Stock
Option Plan 2024 for grant of employee stock
options to the employees of subsidiaries of
the Company under this plan
iii. Person who conducted the postal ballot The Notice of the Postal Ballot containing the
exercise draft resolutions and explanatory statement,
Nitish Latwal (COP no.: 16276), Partner, M/s. PI & were e-mailed on Thursday, May 30, 2024, to the
members whose names appeared on the Register
Associates, Company Secretaries was appointed as
of members/ Register of beneficial owners as on
scrutinizer for conducting the e-voting process for
Friday, May 24, 2024 and were sent only in electronic
the special resolutions passed through postal ballot
mode to those members whose e-mail addresses
on June 29, 2024.
were registered.
iv. Details of special resolution proposed to 6. Means of communication
be conducted through postal ballot i. The financial results, shareholders’ letter and any
None of the businesses proposed to be transacted at official releases are posted on the Company’s website
the ensuing annual general meeting requires passing at www.zomato.com.
of a special resolution through postal ballot.
ii. Quarterly results are generally published in
v. Procedure for Postal Ballot Financial Express (English newspaper) circulating
The Postal Ballot was carried out as per the provisions substantially in the whole of India and in Jansatta
of Sections 108 and 110 and other applicable (vernacular (Hindi) newspaper) in Delhi.
provisions of the Act, read with the Rules framed
thereunder and General Circular No. 14/2020 dated iii. The Company conducts earnings conference
April 8, 2020 read with General Circular No. 17/2020 calls to discuss financial results on quarterly basis.
dated April 13, 2020, General Circular No. 22/2020 During the financial year under review, the Company
dated June 15, 2020, General Circular No. 33/2020 conducted 4 (four) earnings conference calls to
dated September 28, 2020, General Circular No. discuss the quarterly/ annual financial results.
39/2020 dated December 31, 2020, General Circular The audio recording and transcript of the calls
No. 10/2021 dated June 23, 2021, General Circular No. are disseminated on the website of the Company.
20/2021 dated December 8, 2021, General Circular The Company conducted its AGM for financial year
No. 3/2022 dated May 5, 2022, General Circular No. 2022-23 through video conferencing. The transcript of
11/2022 dated December 28, 2022 and General the proceedings of AGM was uploaded on Company’s
Circular No. 9/2023 dated September 25, 2023 issued website at www.zomato.com.
by the Ministry of Corporate Affairs.
140
iv. The Company’s website contains a separate dedicated section “Investor Relations”. The Investor
Relations section contains a comprehensive database of information including the financial results and
annual report of the Company for the investors, in a reader friendly manner. The information about the
Company in terms of Regulation 46 of the SEBI Listing Regulations is provided in a separate section on the
Company’s website and can be accessed at https://www.zomato.com/investor-relations/resources and
the same is updated regularly.
7. General shareholders’ information

i.
Date, Time and Venue of Date: August 28, 2024
Annual General Meeting Time: 12:00 PM (IST)
Venue: Meeting through VC/OAVM
Deemed Venue: Ground Floor 12A, 94 Meghdoot, Nehru Place,
New Delhi -110019, India
Financial year April 1 to March 31
Dividend Payment Date Not Applicable
Listing The equity shares are listed on:
a) BSE Limited
Phiroze Jeejeeboy Towers, Dalal Street, Fort, Mumbai- 400 001
b) National Stock Exchange of India Limited
Exchange Plaza, 5th Floor, Plot no. C/1, G Block, Bandra Kurla Complex,
Bandra (E), Mumbai- 400 051
Stock Code BSE 543320
NSE ZOMATO
ISIN INE758T01015
CIN L93030DL2010PLC198141
Listing Fees Annual listing fees for the year 2023-24 (as applicable) have been paid by the
Company to the Stock Exchanges within the prescribed timelines.
141
ii. Market price data and performance in comparison to broad based indices such as BSE
Sensex and Nifty 50 are given below:
Zomato Share price on BSE
Month-Year High Low Close BSE Sensex
Apr-23 66.00 50.95 64.75 61,112.44
May-23 70.00 60.35 68.53 62,622.24
Jun-23 80.30 67.61 75.07 64,718.56
Jul-23 87.27 73.05 84.07 66,527.67
Aug-23 102.85 80.99 97.64 64,831.41
Sep-23 105.00 96.47 101.52 65,828.41
Oct-23 115.00 100.00 105.15 63,874.93
Nov-23 126.10 103.25 118.75 66,988.44
Dec-23 131.75 114.25 123.70 72,240.26
Jan-24 142.00 121.70 139.50 71,752.11
Feb-24 168.80 138.05 165.50 72,500.30
Mar-24 188.95 144.30 182.35 73,651.35
(1) High and Low data based on the maximum and minimum share price in the corresponding month; Close data based on the closing
price of the last trading day of the corresponding month.
(2) BSE Sensex data based on the closing price of the last trading day of the corresponding month.
200.00 78,000.00
180.00 76,000.00
160.00 74,000.00
140.00 72,000.00
120.00 70,000.00
100.00 68,000.00
80.00 66,000.00
60.00 64,000.00
40.00 62,000.00
20.00 60,000.00
28-Apr-23 31-May-23 30-Jun-23 31-Jul-23 31-Aug-23 29-Sep-23 31-Oct-23 30-Nov-23 29-Dec-23 31-Jan-24 29-Feb-24 28-Mar-24
Zomato (Primary axis) BSE Sensex (Secondary axis)
Note: Above chart is based on the closing price of Zomato and BSE Sensex as at the last trading day of the corresponding month.
Source: BSE website
142
Zomato Share price on NSE

Month-Year High Low Close Nifty 50
Apr-23 66.00 50.90 64.90 18,065.00
May-23 70.00 60.30 69.05 18,534.40
Jun-23 80.30 67.60 75.05 19,189.05
Jul-23 87.25 73.00 84.10 19,753.80
Aug-23 102.85 81.60 97.60 19,253.80
Sep-23 105.00 96.50 101.50 19,638.30
Oct-23 115.10 100.00 105.10 19,079.60
Nov-23 126.35 103.25 118.55 20,133.15
Dec-23 131.75 114.15 123.70 21,731.40
Jan-24 142.00 121.60 139.55 21,725.70
Feb-24 168.85 138.05 165.45 21,982.80
Mar-24 189.00 144.30 182.10 22,326.90
(1) High and Low data based on the maximum and minimum share price in the corresponding month; Close data based on the closing
price of the last trading day of the corresponding month.
(2) Nifty 50 data based on the closing price of the last trading day of the corresponding month.
200.00 24,000.00
180.00
23,000.00
160.00
22,000.00
140.00
120.00 21,000.00
100.00 20,000.00
80.00
19,000.00
60.00
18,000.00
40.00
20.00 17,000.00
28-Apr-23 31-May-23 30-Jun-23 31-Jul-23 31-Aug-23 29-Sep-23 31-Oct-23 30-Nov-23 29-Dec-23 31-Jan-24 29-Feb-24 28-Mar-24
Zomato (Primary axis) Nifty 50 (Secondary axis)
Note: Above chart is based on the closing price of Zomato and Nifty 50 as at the last trading day of the corresponding month.
Source: NSE website
143
iii. Registrar to issue and share transfer agent iv. Share transfer system
Link Intime India Private Limited (“RTA”) As on March 31, 2024, 100% of equity shares of the
Company are held in dematerialised (demat) form.
Address: Noble Heights, 1st Floor, Plot NH 2, C-1
Transfer of these shares can only be done through
Block LSC, Near Savitri Market, depository participant. Transmission and Transposition
Janakpuri, New Delhi – 110058 of shares held in physical or demat form will be effected
only in demat form. The shareholders are though not
Phone: +91 11 49411000
barred from holding shares in physical form.
Email: delhi@linkintime.co.in
Website: https://linkintime.co.in/ Further, the shareholders holding shares in demat
form are requested to register their email address,
Contact Person: Vishal Dixit
bank account details and mobile number with their
SEBI Registration Number: INR000004058 depository participants.
v. Shareholding pattern as on March 31, 2024

Sr. Category No. of No. of % of
No. shareholders shares held shareholding
(A) Promoter & Promoter group - - -
(B) Public
(B)(1) Institutions 1283 6,20,69,18,705 70.38
(B)(2) Central Government/ State Government(s) 1 90,809 0.00
(B)(3) Non-Institutions 19,15,131 2,47,32,45,524 28.04
Total Public Shareholding (B)=(B)(1) +(B)(2) + 19,16,415 8,68,02,55,038 98.42
(B)(3)
(C) Non - Promoter - Non-Public
(C)(1) Shares underlying DRs - - -
(C)(2) Shares held by Employee Trusts 1 13,95,28,706 1.58
Total Non- Promoter Non - Public (C) = (C)(1) 1 13,95,28,706 1.58
+ (C)(2)
Total (A) + (B) + (C) 19,16,416 8,81,97,83,744 100.00
vi. Distribution of shareholding as on March 31, 2024*

Shares held range No. of No. of % of
shareholders shares held shareholding
1 – 500 17,93,042 12,85,08,434 1.46

501 – 1000 74,025 5,70,92,883 0.65
1001 – 2000 40,309 6,02,21,012 0.68
2001 – 3000 16,711 4,18,40,243 0.47
3001 – 4000 7,419 2,62,78,332 0.30
4001 – 5000 5,513 2,57,49,085 0.29
5001 – 10000 9,193 6,70,01,891 0.76
10001 and above 9,031 8,41,30,91,864 95.39
Total 19,55,243 8,81,97,83,744 100.00
*Distribution of shareholding is not consolidated on PAN basis.
144
vii. Dematerialisation of shares and liquidity statutory authorities relating to the capital markets,
As on March 31, 2024, 8,81,97,83,744 equity shares since the date of listing till financial year ended on
forming 100% of the Company’s paid-up capital are March 31, 2024.
held in the dematerialised form with National Securities
Depository Ltd. (“NSDL”) and Central Depository ii. Whistle Blower Policy and Vigil Mechanism
Services (India) Ltd. (“CDSL”). The equity shares are The Company has formulated a Vigil Mechanism and
frequently traded on BSE and NSE. Whistle-Blower Policy (“Policy”) in accordance with
provisions of the Act and Regulation 22 of SEBI Listing
viii. Outstanding American Depository Receipts
Regulations. This Policy aims to provide a platform
(ADRs) / Global Depository Receipts (GDRs)/ and mechanism for employees, directors and other
Warrants or any Convertible Instruments, stakeholders to report unethical behavior, fraud or
conversion date and likely impact on equity violations of the company’s code of conduct, ethics
The Company does not have any outstanding ADRs/ and principles without fear of retaliation. It also
GDRs/Warrants. Details to the extent of outstanding ensures direct access to the Chairperson of the Audit
employee stock options convertible into equity shares Committee.
have been disclosed in the disclosure for ESOPs.
The Company affirms that, in compliance with the
ix. Plant locations
Policy, no personnel have been denied access to the
The Company is in the business of providing an online
Audit Committee Chairperson.
platform and not in the business of manufacturing,
hence there are no plant locations which can be listed Further, the Policy has been posted on the
here.
website of the Company and can be accessed
x. Address for correspondence at https://b.zmtcdn.com/investor-relations/
Registered Office: Ground Floor, 12A, 94 d0ee8ccbb36c72f7abd0380cea49c933_1716475054.
Meghdoot, Nehru Place, New Delhi 110019, India pdf.
Tel: +91 11 40592373
Corporate Office: Pioneer Square, Tower 1 - Ground iii. Compliance with mandatory requirements
to 6th Floor Near Golf Course Extension, Sector 62, of the SEBI Listing Regulations & adoption
Gurugram, Haryana 122098, India, of non-mandatory requirements of the SEBI
Tel: +91 124 426 8565
Listing Regulations
Contact Person: Sandhya Sethia
Designation: Company Secretary and Compliance a. M andatory requirements: The Company is
Officer in compliance with all mandatory corporate
E-mail: companysecretary@zomato.com governance requirements as provided under
Website: www.zomato.com SEBI Listing Regulations.
b. N
on-mandatory requirements: In addition, the
xi. Credit rating Company also strives to adhere and comply with
the following discretionary requirements specified
did not have any outstanding debt, hence no credit
under Regulation 27(1) and Part E of the Schedule II
rating has been obtained.
of SEBI Listing Regulations, to the extent applicable:
8. Other disclosures (i) T
he Board: The Company has appointed a non-
i. Compliances by the Company executive independent director as Chairman of
The Company has complied with the requirements the Board.
of Stock Exchanges, SEBI and other statutory
authorities on all matters related to capital markets (ii) Modified opinion(s) in Audit Report: The
and no penalties or strictures have been imposed on Company’s financial results have unmodified
the Company by the Stock Exchanges or SEBI or other audit opinions.
145
(iii) Separate posts of the Chairperson and the vii. Disclosure of commodity price risks
Managing Director or the Chief Executive or foreign exchange risks and commodity
officer: The Company has appointed
hedging activities
separate individuals as the Chairman of
the Board, and Managing Director & Chief
has no commodity price risk. The details of foreign
Executive Officer of the Company, who are
exchange risk of the Company are disclosed in Note
not related as per the definition of the term
No. 33 to the Standalone Financial Statements
‘relative’ as provided under the Act.
forming part of this Annual Report.
(iv) Reporting of internal auditor: Internal
auditors of the Company make quarterly
viii. Details of utilisation of funds raised
presentations to the Audit Committee on through preferential allotment or qualified
their reports. institutions placement as specified under
Regulation 32 (7A) of SEBI Listing Regulations
iv. Web link where policy for determining During the financial year under review, the Company
material subsidiaries is disclosed has not raised any funds through preferential
Policy on determining material subsidiaries is allotment or qualified institutions placement.
displayed on the Company’s website and can be
accessed at https://b.zmtcdn.com/data/file_assets/ ix. Recommendation of committees
ec19b7ddc0a73f3ccdc47333818033ba1625837735.pdf. All the recommendations of the committees are
accepted by the Board.
v. Disclosure of accounting treatment
The standalone and consolidated financial x. Total fees for all services paid by the listed
statements have been prepared in accordance with entity and its subsidiaries, on a consolidated
Indian Accounting Standard (Ind AS) prescribed under basis, to the statutory auditor and all entities
Section 133 of the Act. in the network firm/network entity of which
the statutory auditor is a part
vi. Disclosures with respect to demat suspense
The total fees for all services paid/ payable by the
account/ unclaimed suspense account Company and its subsidiaries, on a consolidated basis,
a. a
ggregate number of shareholders and the to M/s Deloitte Haskins & Sells, Chartered Accountants,
outstanding shares in the suspense account lying Statutory Auditor and all entities in the network firm/
at the beginning of the year: NIL network entity of which the statutory auditor is a part,
for the financial year under review is INR 2 Crore.
b. n
umber of shareholders who approached listed
entity for transfer of shares from suspense xi. Disclosures in relation to the Sexual
account during the year: NIL Harassment of Women at Workplace
c. n
umber of shareholders to whom shares were
(Prevention, Prohibition and Redressal) Act,
transferred from suspense account during the 2013
year: NIL Disclosure w.r.t. Sexual Harassment of Women at
Workplace (Prevention, Prohibition and Redressal)
d. a
ggregate number of shareholders and the Act, 2013 forms part of the Board report.
outstanding shares in the suspense account lying
at the end of the year: NIL xii. Particulars of Loans, Guarantees and
Securities
e. t hat the voting rights on these shares shall remain During the financial year under review, the Company
frozen till the rightful owner of such shares claims and its subsidiaries have neither advanced any loans
the shares: N.A. nor given any guarantees and / or provided any
securities, whether directly or indirectly to firms/
companies in which directors are interested.
146
xiii. Details of Company’s material subsidiaries

Name of Material Zomato Hyperpure Private Limited Blink Commerce Private Limited (“BCPL”)
Subsidiary (“ZHPL”)
(BCPL was not a material subsidiary for
financial year 2023-24, the same has been
identified as the material subsidiary for
financial year 2024-25)
Date & Place of October 8, 2015 & New Delhi May 26, 2015 & Gurugram
Incorporation
Name of Statutory S.R. Batliboi & Associates LLP (“SRB”)
Auditor as on March
31, 2024
Date of SRB was appointed as the statutory SRB was re-appointed as the statutory
Appointment / auditor of ZHPL on August 29, 2023 in auditor of BCPL on November 30, 2021 in
Re-appointment of its annual general meeting, for a period its annual general meeting, for a period
Statutory Auditor of five consecutive years, commencing of four consecutive years, commencing
from conclusion of the 8 th annual from conclusion of the 6 th annual
general meeting until conclusion of the general meeting until conclusion of the
13th annual general meeting of ZHPL to be 10 th annual general meeting of BCPL to
held in 2028. be held in 2025.
However, in order to make the audit process more efficient at group level, it was
decided to allow the appointment of current statutory auditor of the Company, M/s
Deloitte Haskins & Sells, Chartered Accountants, (Firm Regn. No. 015125N) (“DHS”) as
the statutory auditor of ZHPL and BCPL. Accordingly, SRB resigned as the statutory
auditor of ZHPL and BCPL w.e.f. May 12, 2024, after completing the statutory audit of
respective companies for financial year ended March 31, 2024.
Further, DHS was appointed as statutory auditor of ZHPL & BCPL by the board of
directors in the respective board meetings held on May 27, 2024, to fill the causal
vacancy.
Thereafter, ZHPL & BCPL in their annual general meetings held on July 29, 2024,
approved appointment of DHS as statutory auditor of ZHPL & BCPL for a term of five
consecutive years, commencing from the conclusion of 9th annual general meeting
until the conclusion of the 14th annual general meeting of respective companies.
xiv. Compliance certificate for Corporate xv. Chief Executive Officer and Chief
Governance Financial Officer Certification
The Company has obtained a certificate affirming Deepinder Goyal, Managing Director & Chief Executive
the compliances of conditions of corporate Officer and Akshant Goyal, Chief Financial Officer of
governance from M/s. Deloitte Haskins & Sells, the Company have certified compliance of Regulation
Chartered Accountants, (FRN 015125N), Statutory 17(8) of the SEBI Listing Regulations for the financial
Auditor of the Company and the same is annexed as year ended March 31, 2024. The certificate issued
Annexure – VI. by them to the Board in this regard is annexed as
Annexure – VII to this report.
147
xvi. Code of Conduct • Procedures to be followed while dealing in the

The Company has adopted the code of conduct for the shares of the Company;
Board and senior management personnel (“Code”). •
Handling of Unpublished Price Sensitive
The same has been uploaded on the Company’s Information;
website at www.zomato.com. The Board and senior • Maintenance of structured digital database;
management have affirmed their compliance with
• Assessment made mandatory prior to obtaining
the Code and a declaration signed by the Managing
pre-clearance;
Director and Chief Executive Officer of the Company
is annexed as Annexure – VIII. • Trading Window opening and closure; and
• How to report any actual or suspected violations.
xvii. Related party transactions:
During the financial year, the Company has not entered xix. Disclosure of certain types of agreements
into any materially significant related party transaction, binding listed entity
which could have a potential conflict of interest with The Company has not been informed of any agreement
the interests of the Company at large. The related party under Regulation 30A(1) read with Clause 5A of
transactions entered by the Company are disclosed Para A of Part A of Schedule III of the SEBI Listing
every half yearly to the stock exchange in compliance Regulations. Accordingly, there is no requirement for
with Regulation 23 of the SEBI Listing Regulations and disclosing the same.
are also disclosed in notes to accounts of the financial
statements forming part of the Annual Report. xx. Compliance of the requirement of Corporate
Governance
The policy on dealing with related party transactions
has been posted on the Company’s website and can be
is in compliance with the requirements of corporate
accessed at: https://b.zmtcdn.com/investor-relations/
governance and disclosures with respect to
ad6fe87b868944e29bb187fd8a22b53e_1719994084.
compliance of Regulation 17 to 27 and Clause (b) to (i)
pdf.
of Sub-Regulation (2) of Regulation 46 of SEBI Listing
xviii. Prevention of insider-trading practices Regulations.
Following awareness topics pertaining to Prevention Further, there have been no instances of non
of insider trading were covered by the Company compliance of any requirement of Corporate
through channels such as training, posters, Governance Report of sub-paras (2) to (10) of Para C
screensavers, internal communication, etc. - of Schedule V of SEBI Listing Regulations.
148
ANNEXURE - V
CERTIFICATE OF NON-DISQUALIFICATION OF DIRECTORS

(Pursuant to Regulation 34(3) and Schedule V Para C clause (10)(i) of the SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015)
To,
The Members
Zomato Limited
Ground Floor 12A,
94 Meghdoot, Nehru Place,
New Delhi DL 110019 IN
We have examined the relevant registers, records, forms, returns and disclosures received from the Directors
of Zomato Limited and having CIN: L93030DL2010PLC198141 and having Registered office at Ground Floor
12A, 94 Meghdoot, Nehru Place, New Delhi DL 110019 IN (hereinafter referred to as ‘the Company’), produced
before us by the Company for the purpose of issuing this Certificate, in accordance with Regulation 34(3) read
with Schedule V Para-C Sub clause 10(i) of the Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) Regulations, 2015.
In our opinion and to the best of our information and according to the verifications (including Directors
Identification Number (DIN) status at the portal www.mca.gov.in) as considered necessary and explanations
furnished to us by the Company & its officers, we hereby certify that as on Financial Year ended on March 31,
2024 none of the Directors on the Board of the Company as stated below have been debarred or disqualified
from being appointed or continuing as Directors of companies by the Securities and Exchange Board of India,
Ministry of Corporate Affairs or any such other Statutory Authority:
Sr. Name of the Director DIN Date of appointment

No. in Company
1. Sanjeev Bikhchandani 00065640 13/04/2018

2. Namita Gupta 07337772 01/03/2021
3. Kaushik Dutta 03328890 01/03/2021
4. Deepinder Goyal 02613583 18/01/2010
5. Sutapa Banerjee 02844650 12/04/2021
6. Gunjan Tilak Raj Soni 07333270 19/04/2021
7. Aparna Popat Ved 08661466 19/04/2021
149
Ensuring the eligibility for the appointment / continuity of every Director on the Board is the responsibility of
the management of the Company. Our responsibility is to express an opinion on these based on our verification.
This certificate is neither an assurance as to the future viability of the Company nor of the efficiency or
effectiveness with which the management has conducted the affairs of the Company.
For Chandrasekaran Associates

Company Secretaries
FRN: P1988DE002500
Peer Review Certificate No: 5715/2024
Sd/-
Dr. S Chandrasekaran
Senior Partner
Certificate of Practice No. 715
UDIN: F001644F000644143
Date: 01.07.2024
Place: Delhi
150
ANNEXURE – VI
INDEPENDENT AUDITOR’S CERTIFICATE ON CORPORATE GOVERNANCE
To, Accountants of India (the ICAI), the Standards on

The Members of Auditing specified under Section 143(10) of the
Zomato Limited Companies Act 2013, in so far as applicable for the
purpose of this certificate and as per the Guidance
1. This certificate is issued in accordance with the Note on Reports or Certificates for Special Purposes
terms of our engagement letter dated September 25, issued by the ICAI which requires that we comply with
2023. the ethical requirements of the Code of Ethics issued
2. We, Deloitte Haskins & Sells, Chartered by the ICAI.
Accountants, the Statutory Auditors of Zomato
7. We have complied with the relevant applicable
Limited (“the Company”), have examined the
requirements of the Standard on Quality Control (SQC)
compliance of conditions of Corporate Governance
1, Quality Control for Firms that Perform Audits and
by the Company, for the year ended on March 31, 2024,
Reviews of Historical Financial Information, and Other
as stipulated in regulations 17 to 27 as applicable
Assurance and Related Services Engagements.
and clauses (b) to (i) of regulation 46(2) and para C
and D of Schedule V of the SEBI (Listing Obligations
Opinion
and Disclosure Requirements) Regulations, 2015, as
8. Based on our examination of the relevant records
amended (the Listing Regulations).
and according to the information and explanations
Managements’ Responsibility provided to us and the representations provided
3. The compliance of conditions of Corporate by the Management, we certify that the Company
Governance is the responsibility of the Management. has complied with the conditions of Corporate
This responsibility includes the design, Governance as stipulated in regulations 17 to 27 and
implementation and maintenance of internal control clauses (b) to (i) of regulation 46(2) and para C and D of
and procedures to ensure the compliance with the Schedule V of the Listing Regulations during the year
conditions of the Corporate Governance stipulated ended March 31, 2024.
in Listing Regulations.
9. We state that such compliance is neither an
Auditor’s Responsibility assurance as to the future viability of the Company
nor the efficiency or effectiveness with which
4. Our responsibility is limited to examining the
the Management has conducted the affairs of the
procedures and implementation thereof, adopted
Company.
by the Company for ensuring compliance with the
conditions of the Corporate Governance. It is neither
an audit nor an expression of opinion on the financial For Deloitte Haskins & Sells
statements of the Company. Chartered Accountants
(Firm’s Registration No. 015125N)
5. We have examined the books of account and other
relevant records and documents maintained by the
Company for the purposes of providing reasonable Sd/-
assurance on the compliance with Corporate Vikas Khurana
Governance requirements by the Company. (Partner)
(Membership No. 503760)
6. We have carried out an examination of the UDIN: 24503760BKFDIO2800
relevant records of the Company in accordance with
the Guidance Note on Certification of Corporate Place: Gurugram
Governance issued by the Institute of the Chartered Date: August 01, 2024
151
ANNEXURE – VII
To,
Board of directors
Zomato Limited (“Company”)
Sub: Compliance Certificate by Chief Executive Officer & Chief Financial Officer under Regulation 17(8)
read with schedule II of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
We, Deepinder Goyal, Managing Director & Chief Executive Officer and Akshant Goyal, Chief Financial Officer
of the Company hereby certify to the board of directors of the Company pursuant to Regulation 17(8) read with
schedule II of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 to the effect that:
A. We have reviewed financial statements (standalone and consolidated) and the cash flow statement (herein
after called as “Statements”) for the financial year ended March 31, 2024, and to the best of our knowledge
and belief:
(1) these Statements do not contain any materially untrue statement or omit any material fact or contain
statements that might be misleading.
(2) these Statements together present a true and fair view of the Company’s affairs and are in compliance
with existing accounting standards, applicable laws and regulations.
B. There are, to the best of our knowledge and belief, no transactions entered into by the Company during the
year which are fraudulent, illegal or violative of the Company’s code of conduct.
C. We accept responsibility for establishing and maintaining internal controls for financial reporting and that we
have evaluated the effectiveness of internal control systems of the Company pertaining to financial reporting
and have disclosed to the auditors and the audit committee, deficiencies in the design or operation of such
internal controls, if any, of which we are aware and the steps we have taken or propose to take to rectify
these deficiencies.
D. We have indicated to the auditors and the audit committee that:
(1) there have been no significant changes in internal control over financial reporting during the financial
year 2023-24;
(2) there have been no significant changes in accounting policies during the financial year 2023-24
and accordingly, no disclosures in the notes to the financial statements are required to be made.
and that the same have been disclosed in the notes to the financial statements; and
(3) there are no instances of significant fraud of which we have become aware and the involvement therein,
of the management or an employee having a significant role in the Company’s internal control system
over financial reporting.
For Zomato Limited
Sd/- Sd/-
Deepinder Goyal Akshant Goyal
Managing Director & Chief Executive Officer Chief Financial Officer
Date: May 13, 2024 Date: May 13, 2024
152
ANNEXURE - VIII
To,
Board of directors
Zomato Limited (“Company”)
Sub: Declaration confirming compliance with the Code of Conduct applicable to the members of the board
of directors and senior management personnel of the Company in accordance with the provision of Part D
of Schedule V of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
I, Deepinder Goyal, Managing Director & Chief Executive Officer of the Company, hereby declare that the
members of the board of directors and senior management personnel of the Company have affirmed the
compliance with the code of conduct for directors and senior management of the Company for the financial
year 2023-24.
For Zomato Limited
Sd/-
Deepinder Goyal
Managing Director & Chief Executive Officer
Date: May 13, 2024
153
Company Overview Statutory Reports Financial Statements: Consolidated
Independent Auditor’s Report

To The Members of Zomato Limited Auditing (“SAs”) specified under section 143 (10) of the
Report on the Audit of the Consolidated Act. Our responsibilities under those Standards are
Financial Statements further described in the Auditor’s Responsibility for
the Audit of the Consolidated Financial Statements
Opinion section of our report. We are independent of the
Group and its associate in accordance with the
We have audited the accompanying consolidated
Code of Ethics issued by the Institute of Chartered
financial statements of Zomato Limited (”the
Accountants of India (“ICAI”) together with the
Parent”/ “the Company”) and its subsidiaries and
ethical requirements that are relevant to our audit
trust (the Parent and its subsidiaries and its trust
of the consolidated financial statements under the
together referred to as “the Group”) which includes
provisions of the Act and the Rules made thereunder
Group’s share of profit / loss in its associate , which
and we have fulfilled our other ethical responsibilities
comprise the Consolidated Balance Sheet as at
in accordance with these requirements and the ICAI’s
March 31, 2024 and the Consolidated Statement
Code of Ethics. We believe that the audit evidence
of Profit and Loss (including Other Comprehensive
obtained by us and the audit evidence obtained by the
Income), the Consolidated Cash Flow Statement and
other auditors in terms of their reports referred to in
the Consolidated Statement of Changes in Equity for
the sub-paragraphs (a) of the Other Matters section
the year ended and notes to the financial statements,
below is sufficient and appropriate to provide a basis
including a summary of material accounting policies
for our audit opinion on the consolidated financial
and other explanatory information (herein referred
statements.
to as “the consolidated financial statements”).
In our opinion and to the best of our information

Emphasis of Matter
and according to the explanations given to us We draw attention to Note 42 to the consolidated
financial statement relating to the show cause
and based on the consideration of reports of the
notices (SCNs) received by the Company from GST
other auditors on separate financial statements of
authorities in respect of GST on delivery charges.
subsidiaries and the trust referred to in the Other
The Company, supported by the external expert’s
Matters section below, the aforesaid consolidated advice, is of the view that, it has a strong case on
financial statements give the information required merits. Given the uncertainty involved, the ultimate
by the Companies Act, 2013 (“the Act”) in the outcome will be ascertained on the disposal of the
manner so required and give a true and fair view in above matter.
conformity with the Indian Accounting Standards
prescribed under section 133 of the Act, read with Our conclusion is not modified in respect of this
matter.
the Companies (Indian Accounting Standards) Rules,
2015, as amended (‘Ind AS’) and other accounting Key Audit Matters
principles generally accepted in India, of the Key audit matters are those matters that, in our
consolidated state of affairs of the Group as at professional judgment, were of most significance in
March 31, 2024 and their consolidated profit, their our audit of the consolidated financial statements of
consolidated total comprehensive income, their the current year. These matters were addressed in
consolidated cash flows and their consolidated the context of our audit of the consolidated financial
changes in equity for the year ended on that date. statements as a whole and in forming our opinion
thereon and we do not provide a separate opinion
Basis for Opinion on these matters. We have determined the matters
We conducted our audit of the consolidated financial described below to be the key audit matters to be
statements in accordance with the Standards on communicated in our report.
154
Sr. Key Audit Matter Auditor’s Response

No.
1 Fair valuation of investment in other entities Principal audit procedures performed:

(Refer note 5 & 36 of the consolidated financial • Evaluated the design, implementation and tested
statements) operating effectiveness of relevant internal
controls relating to determination of the fair value of
The Company has made investments in investment in the said entities.
CureFit Healthcare Private Limited, BigFoot
Retail Solutions Private Limited, Samast • Evaluated the objectivity and competence of the
Technologies Private Limited and Adonmo specialist engaged by the Company and reviewed the
Private Limited where the aggregate carrying valuation report issued by such specialist;
value of these investments as on March 31,
2024 is INR 1,939 crores. These investments • With the assistance of our valuation specialists,
are measured at Fair Value through Other we have assessed overall reasonableness of the
Comprehensive Income (‘FVTOCI’) as at methodology used and assumptions used particularly
March 31, 2024. those relating to the weighted average cost of capital,
terminal growth rate and revenue multiple.
We considered the valuation assumptions
relating to weighted average cost of capital,
terminal growth rate, revenue multiple and
the methodology in estimation of fair value of
these investments as a key audit matter due
to the significance of the investment amount
and the significant estimates and judgement
involved in determination of fair value.
2. Revenue Recognition Principal audit procedures performed:

(Refer note 21 & 2.3.j of the consolidated • We obtained an understanding, evaluated the
financial statements) design and tested the operating effectiveness of
(i) the general IT controls, automated controls and
The Company provides an e-commerce
control over system generated reports relevant for
platform that enables merchants to sell their
revenue recognition by involving our IT specialist; (ii)
food items to users through the platform. The
controls over recording of revenue relating to food
Company mainly generates revenue through
delivery business; (iii) control over determination of
commission revenue.
commission rate and (iv) control over reconciliations
The Company’s revenue process is largely performed between the commission revenue
automated and relies significantly on its IT recorded and amount received from payment
systems. gateway;
We considered accuracy of revenues relating • We tested inter se reconciliations between reports
to food delivery as a key audit matter because generated from relevant IT systems with general
of the complexity of the IT systems and ledger;
significance of volumes of data processed
• We tested, on a sample basis, underlying contracts,
by the IT systems.
identifying the key terms and attributes from the
contracts and checking them against the underlying
data from the system used in the transaction
processes and then recalculating the revenue
amount.
155

No.
3. Impairment Assessment of Goodwill Principal audit procedures performed:

(Refer note 4 of the consolidated financial • Evaluated the design, implementation and tested the
statement) operating effectiveness of relevant internal controls
relating to impairment assessment of Goodwill.
The consolidated financial statements of the
Group as at March 31, 2024 carries goodwill • Evaluated the reasonableness of the business
amounting to INR 3,507 crores in relation to assumptions relating to future revenue growth;
the Acquisition of Blink Commerce Private
• Evaluated the objectivity and competency of the
Limited (BCPL) in previous year.
specialist engaged by the Company and reviewed the
Goodwill is assessed for impairment at each valuation report issued by such specialist;
reporting date and is additionally tested
• We have used our valuation specialists to assess
annually for impairment.
overall reasonableness of the assumptions used
During the current year, based on identified particularly those relating to the weighted average
impairment indicators, management has cost of capital and terminal growth rate;
carried out impairment assessment by
• Performed sensitivity analysis on the key assumptions
comparing the carrying value of the goodwill
such as weighted average cost of capital and terminal
to their recoverable amount to determine
growth rate.
whether an impairment was required to be
recognized.
We considered the assumptions relating
to future revenue growth and the valuation
assumptions, specifically, the assumptions
relating to weighted average cost of capital
and terminal growth rate, used in estimation
of recoverable value of BCPL as a key
audit matter due to the significance of the
investment amount and the significant
estimates and judgement involved in
estimation of these assumptions.
Information Other than the Financial • In connection with our audit of the consolidated
Statements and Auditor’s Report financial statements, our responsibility is to
read the other information identified above
Thereon
when it becomes available, compare with the
• The Parent’s Board of Directors is responsible financial statements of the subsidiaries and
for the other information. The other information the trust audited by the other auditors, to the
comprises the information included in the Board’s extent it relates to these entities and, in doing so,
report, but does not include the consolidated place reliance on the work of the other auditors
financial statements, standalone financial and consider whether the other information is
statements and our auditor’s report thereon. The materially inconsistent with the consolidated
Board report is expected to be made available to financial statements or our knowledge obtained
us after the date of this auditor’s report. during the course of our audit or otherwise
appears to be materially misstated.
• Our opinion on the consolidated financial
statements does not cover the other information Other information so far as it relates to the
and we will not express any form of assurance subsidiaries and the trust, is traced from their
conclusion thereon. financial statements audited by other auditors.
156
• When we read the Board report, if we conclude to liquidate their respective entities or to cease
that there is a material misstatement therein, we operations, or has no realistic alternative but to do so.
are required to communicate the matter to those
The respective Board of Directors of the companies
charged with governance as required under SA included in the Group and of its associate are also
720 ‘The Auditor’s responsibilities Relating to responsible for overseeing the financial reporting
Other Information’. process of the Group and of its associate.
Responsibilities of Management and Auditor’s Responsibility for the Audit of
Those Charged with Governance for the the Consolidated Financial Statements
Consolidated Financial Statements Our objectives are to obtain reasonable assurance
The Parent’s Board of Directors is responsible for about whether the consolidated financial statements
the matters stated in section 134(5) of the Act with as a whole are free from material misstatement,
respect to the preparation of these consolidated whether due to fraud or error and to issue an
financial statements that give a true and fair view auditor’s report that includes our opinion. Reasonable
of the consolidated financial position, consolidated assurance is a high level of assurance, but is not a
financial performance including other comprehensive guarantee that an audit conducted in accordance
income, consolidated cash flows and consolidated with SAs will always detect a material misstatement
changes in equity of the Group including its Associate when it exists. Misstatements can arise from fraud or
in accordance with the accounting principles error and are considered material if, individually or in
generally accepted in India, including Ind AS specified the aggregate, they could reasonably be expected to
under section 133 of the Act. The respective Board influence the economic decisions of users taken on
of Directors of the companies included in the Group the basis of these consolidated financial statements.
and of its associate are responsible for maintenance
As part of an audit in accordance with SAs, we exercise
of adequate accounting records in accordance with
professional judgment and maintain professional
the provisions of the Act for safeguarding the assets
skepticism throughout the audit. We also:
of the Group and its associate for preventing and
detecting frauds and other irregularities; selection •
I dentify and assess the risks of material
and application of appropriate accounting policies; misstatement of the consolidated financial
making judgments and estimates that are reasonable statements, whether due to fraud or error, design
and prudent; and design, implementation and and perform audit procedures responsive to those
maintenance of adequate internal financial controls, risks and obtain audit evidence that is sufficient
that were operating effectively for ensuring the and appropriate to provide a basis for our opinion.
accuracy and completeness of the accounting The risk of not detecting a material misstatement
records, relevant to the preparation and presentation resulting from fraud is higher than for one resulting
of the financial statements that give a true and fair from error, as fraud may involve collusion, forgery,
view and are free from material misstatement, intentional omissions, misrepresentations, or the
whether due to fraud or error, which have been used override of internal control.
for the purpose of preparation of the consolidated • Obtain an understanding of internal financial
financial statements by the Directors of the Parent, controls relevant to the audit in order to design
as aforesaid. audit procedures that are appropriate in the
In preparing the consolidated financial statements, circumstances. Under section 143(3)(i) of the Act,
the respective Board of Directors of the companies we are also responsible for expressing our opinion
included in the Group and of its associate are on whether the Parent has adequate internal
responsible for assessing the ability of the respective financial controls with reference to consolidated
entities to continue as a going concern, disclosing, financial statements in place and the operating
effectiveness of such controls.
as applicable, matters related to going concern and
using the going concern basis of accounting unless •
Evaluate the appropriateness of accounting
the respective Board of Directors either intend policies used and the reasonableness of accounting
157
estimates and related disclosures made by the evaluate the effect of any identified misstatements
management. in the consolidated financial statements.
• Conclude on the appropriateness of management’s We communicate with those charged with governance
use of the going concern basis of accounting and, of the Parent and such other entities included in
based on the audit evidence obtained, whether the consolidated financial statements of which we
a material uncertainty exists related to events are the independent auditors regarding, among
or conditions that may cast significant doubt other matters, the planned scope and timing of the
on the ability of the Group and its associate to audit and significant audit findings, including any
continue as a going concern. If we conclude that significant deficiencies in internal financial controls
a material uncertainty exists, we are required that we identify during our audit.
to draw attention in our auditor’s report to the We also provide those charged with governance with
related disclosures in the consolidated financial a statement that we have complied with relevant
statements or, if such disclosures are inadequate, ethical requirements regarding independence and to
to modify our opinion. Our conclusions are based communicate with them all relationships and other
on the audit evidence obtained up to the date of matters that may reasonably be thought to bear on
our auditor’s report. However, future events or our independence and where applicable, related
conditions may cause the Group and its associate safeguards.
to cease to continue as a going concern.
From the matters communicated with those charged
• Evaluate the overall presentation, structure and with governance, we determine those matters
content of the consolidated financial statements, that were of most significance in the audit of the
including the disclosures and whether the consolidated financial statements of the current year
consolidated financial statements represent the and are therefore the key audit matters. We describe
underlying transactions and events in a manner these matters in our auditor’s report unless law or
that achieves fair presentation. regulation precludes public disclosure about the
• Obtain sufficient appropriate audit evidence matter or when, in extremely rare circumstances, we
regarding the financial information of the, entities determine that a matter should not be communicated
within the Group and its associate to express an in our report because the adverse consequences of
opinion on the consolidated financial statements. doing so would reasonably be expected to outweigh
We are responsible for the direction, supervision the public interest benefits of such communication.
and performance of the audit of the financial Other Matters
statements of such entities included in the
(a) We did not audit the financial statements of certain
consolidated financial statements of which we are
subsidiaries and trust, whose financial statements
the independent auditors. For the other entities
reflect total assets of INR 2,902 crores as at March
included in the consolidated financial statements,
31, 2024, total revenues of INR 5,527 crores and
which have been audited by other auditors, such
net cash inflows amounting to INR 42 crores for
other auditors remain responsible for the direction,
the year ended on that date, as considered in
supervision and performance of the audits carried
the consolidated financial statements. These
out by them. We remain solely responsible for our
financial statements have been audited by other
audit opinion.
auditors whose reports have been furnished to
Materiality is the magnitude of misstatements in the us by the Management and our opinion on the
consolidated financial statements that, individually consolidated financial statements, in so far as it
or in aggregate, makes it probable that the economic relates to the amounts and disclosures included
decisions of a reasonably knowledgeable user of the in respect of these subsidiaries and trust and our
consolidated financial statements may be influenced. report in terms of subsection (3) of Section 143
We consider quantitative materiality and qualitative of the Act, in so far as it relates to the aforesaid
factors in (i) planning the scope of our audit work subsidiaries and trust is based solely on the
and in evaluating the results of our work; and (ii) to reports of the other auditors.
158
(b) We did not audit the financial information of c) The Consolidated Balance Sheet, the Consolidated
certain subsidiaries whose financial information Statement of Profit and Loss including Other
reflect total assets of INR 92 crores as at Comprehensive Income, the Consolidated
March 31, 2024, total revenues of INR 14 crores Statement of Cash Flows and the Consolidated
and net cash outflows amounting to INR 9 crores Statement of Changes in Equity dealt with by
for the year ended on that date, as considered this Report are in agreement with the relevant
in the consolidated financial statements. The books of account maintained for the purpose
consolidated financial statements also include of preparation of the consolidated financial
the Group’s share of net profit/loss of INR Nil for statements.
the year ended March 31, 2024, as considered in
d) In our opinion, the aforesaid consolidated financial
the consolidated financial statements, in respect
statements comply with the Ind AS specified
of one associate, whose financial information have
under Section 133 of the Act.
not been audited by us. These financial information
are unaudited and have been furnished to us by the e) On the basis of the written representations
Management and our opinion on the consolidated received from the directors of the Parent as on
financial statements, in so far as it relates to the March 31, 2024, taken on record by the Board
amounts and disclosures included in respect of of Directors of the Company and the reports of
these subsidiaries and associate, is based solely on the statutory auditors of subsidiary companies
such unaudited financial information. In our opinion incorporated in India, audited by other auditors
and according to the information and explanations referred to in the above Other Matters section
given to us by the Management, these financial none of the directors of the Group companies,
information are not material to the Group. incorporated in India is disqualified as on
Our opinion on the consolidated financial statements March 31, 2024, from being appointed as a director
above and our report on Other Legal and Regulatory in terms of Section 164 (2) of the Act.
Requirements below, is not modified in respect of the f) With respect to the adequacy of the internal
above matters with respect to our reliance on the work financial controls with reference to consolidated
done and the reports of the other auditors and the financial statements and the operating
financial information certified by the Management. effectiveness of such controls, refer to our
separate Report in “Annexure A” which is based
Report on Other Legal and Regulatory
on the auditor’s reports of the Parent and nine
Requirements subsidiary companies. Our report expresses an
1. As required by Section 143(3) of the Act, based on unmodified opinion on the adequacy and operating
our audit and on the consideration of the reports effectiveness of internal financial controls with
of the other auditors on the separate financial reference to consolidated financial statements of
statements of, subsidiaries, referred to in the those companies.
Other Matters section above we report, that:
g) With respect to the other matters to be included
a) We have sought and obtained all the information in the Auditor’s Report in accordance with the
and explanations which to the best of our requirements of section 197(16) of the Act, as
knowledge and belief were necessary for the amended,
purposes of our audit of the aforesaid consolidated
financial statements. In our opinion and to the best of our information and
according to the explanations given to us and based
b) In our opinion, except for not complying with on the auditor’s reports of subsidiary companies
requirement of audit trail, as stated in paragraph incorporated in India, the remuneration paid by
(i)(vi) below, proper books of account as required the Parent and such subsidiaries companies, to
by law maintained by the Group and its associate its directors during the year is in accordance with
including relevant records relating to preparation the provisions of section 197 of the Act.
of the aforesaid consolidated financial statements
have been kept so far as it appears from our h) The Modification relating to complying with
examination of those books and the reports of the the requirements of audit trial is as stated in
other auditors. paragraph (b) above.
159
i) With respect to the other matters to be included been received by the Parent company or
in the Auditor’s Report in accordance with Rule any of such subsidiaries from any persons
11 of the Companies (Audit and Auditors) Rules, or entities, including foreign entities
2014, as amended in our opinion and to the best of (“Funding Parties”), with the understanding,
our information and according to the explanations whether recorded in writing or otherwise,
given to us: that the Parent or any of such subsidiaries
shall, directly or indirectly, lend or invest in
i. The consolidated financial statements other persons or entities identified in any
disclose the impact of pending litigations manner whatsoever by or on behalf of the
on the consolidated financial position of the Funding Party (“Ultimate Beneficiaries”) or
Group and its associate. provide any guarantee, security or the like
ii. The Group and its associate did not have any on behalf of the Ultimate Beneficiaries.
material foreseeable losses on long-term (c) Based on the audit procedures performed
contracts including derivative contracts. that have been considered reasonable
iii. There were no amounts which were required and appropriate in the circumstances
to be transferred to the Investor Education performed by us and those performed by
and Protection Fund by the Parent and its the auditors of the subsidiaries which are
subsidiary companies incorporated in India. companies incorporated in India whose
financial statements have been audited
iv. (a) T he respective Managements of the under the Act, nothing has come to our or
Parent and its subsidiaries which are other auditors notice that has caused us
companies incorporated in India, whose or the other auditors to believe that the
financial statements have been audited representations under sub-clause (i) and
under the Act, have represented to us and (ii) of Rule 11(e), as provided under (a) and (b)
to the other auditors of such subsidiaries above, contain any material misstatement.
respectively that, to the best of their
v. The Parent and its subsidiaries which are
knowledge and belief as disclosed in the
companies incorporated in India, whose
notes to accounts, no funds have been financial statements have been audited under
advanced or loaned or invested (either the Act, have not declared or paid any dividend
from borrowed funds or share premium during the year and have not proposed final
or any other sources or kind of funds) by dividend for the year.
the Parent or any of such subsidiaries to or
in any other persons or entities, including vi. Based on our examination which included test
foreign entities (“Intermediaries”), with checks and based on the other auditor’s reports
the understanding, whether recorded in of its subsidiary companies incorporated in
writing or otherwise, that the Intermediary India whose financial statements have been
shall, directly or indirectly lend or invest audited under the Act, except for the instances
mentioned below, the Parent Company and
in other persons or entities identified in
its subsidiary companies, incorporated in
any manner whatsoever by or on behalf
India have used accounting software for
of the Parent company or any of such
maintaining their respective books of account
subsidiaries (“Ultimate Beneficiaries”) or
for the year ended March 31, 2024, which have
provide any guarantee, security or the like
a feature of recording audit trail (edit log)
on behalf of the Ultimate Beneficiaries. facility and the same has operated throughout
(b) The respective Managements of the Parent the year for all relevant transactions recorded
and its subsidiaries which are companies in the software except:
incorporated in India, whose financial In respect of Parent Company:
statements have been audited under the
Act, have represented to us and to the other (a) For certain accounting software, audit trail
auditors of such subsidiaries respectively was not enabled at the database level to log
that, to the best of their knowledge any direct data changes,
and belief, as disclosed in the note to (b) For an accounting software, for maintenance
accounts , no funds (which are material of payroll records, operated by third party
either individually or in aggregate) have software service provider, in the absence
160
of an independent auditor’s system and and third party accounting software

organization controls report covering the operated throughout the year for all relevant
requirement of audit trail at database level, transactions recorded in the software or
we are unable to comment whether audit trail whether there were any instances of the audit
feature at the database level was enabled and trail feature being tampered.
operated throughout the year for all relevant
Further, during the course of audit, we and
transactions recorded in the software or
the respective other auditors, whose reports
whether there were any instances of the audit
have been furnished to us by the Management
trail feature been tampered with and
of the Parent Company, have not come across
(c) For an accounting software, for maintenance any instance of the audit trail feature being
of purchase records for the period from tampered with in respect of the accounting
August 17, 2023, operated by a third party softwares for which the audit trail feature was
software service provider, in the absence operating.
of an independent auditor’s system and
vii. W ith respect to the matters specified in
organization controls report covering the
clause (xxi) of paragraph 3 and paragraph 4 of
requirement of audit trail at database level,
the Companies (Auditor’s Report) Order, 2020
we are unable to comment whether audit trail
(“CARO”/ “the Order”) issued by the Central
feature at the database level was enabled and
Government in terms of Section 143(11) of
operated from August 17, 2023, for all relevant
the Act, according to the information and
transactions recorded in the software or
explanations given to us and based on the
whether there were any instances of the audit
CARO reports issued by us and the auditors
trail feature been tampered with.
of respective companies included in the
In respect of two subsidiaries, as reported by the consolidated financial statements to which
other auditors: reporting under CARO is applicable, as provided
to us by the Management of the Parent, we
(a) Audit trail for certain software was not enabled
report that there are no qualifications or
at the database level to log any direct changes
adverse remarks by the respective auditors
to the database. Further, during the course of
in the CARO reports of the said respective
our audit we did not come across any instance
companies included in the consolidated
of audit trail feature being tampered with.
financial statements except for the following:
(b)
We are unable to comment on whether
audit trail feature of certain subsystems
Sr. Name of the company CINNature of Clause Number of

No. relationship CARO report with
qualification or
adverse remark
1 Tonguestun Food Network Private Limited U55101KA2012PTC066805 Subsidiary Clause 3(xvii)
2 Zomato Entertainment Private Limited U74999DL2018PTC342569 Subsidiary Clause 3(xvii)
3 Zomato Foods Private Limited U73100DL2020PTC369324 Subsidiary Clause 3(xvii)
4 Zomato Local Services Private Limited U74900DL2019PTC351669 Subsidiary Clause 3(xvii)
5 Zomato Payments Private Limited U74999DL2021PTC384703 Subsidiary Clause 3(xvii)
6 Zomato Hyperpure Private Limited U74900DL2015PTC286208 Subsidiary Clause 3(xvii)
7 Zomato Financial Services Limited U65929DL2022PLC394322 Subsidiary Clause 3(xvii)
8 Blink Commerce Private Limited U74140HR2015FTC055568 Subsidiary Clause 3(xvii)
For Deloitte Haskins & Sells
Chartered Accountants
Sd/-
Vikas Khurana
(Partner)
Place: Gurugram (Membership No. 503760)
Date: May 13, 2024 UDIN: 224503760BKFDGW7976
161
Annexure “A” to the Independent Auditor’s Report

(Referred to in paragraph 1(f) under ‘Report on Other Legal and Regulatory Requirements’ section
of our report of even date)
Report on the Internal Financial Controls and its subsidiary companies, which are companies
with reference to consolidated financial incorporated in India, based on our audit. We
conducted our audit in accordance with the Guidance
statements under Clause (i) of Sub-
Note on Audit of Internal Financial Controls Over
section 3 of Section 143 of the Companies Financial Reporting (the “Guidance Note”) issued by
Act, 2013 (“the Act”) the Institute of Chartered Accountants of India and
In conjunction with our audit of the consolidated the Standards on Auditing, prescribed under Section
Ind AS financial statements of the Company as at 143(10) of the Companies Act, 2013, to the extent
and for the year ended March 31, 2024, we have applicable to an audit of internal financial controls
audited the internal financial controls with reference with reference to consolidated financial statements.
to consolidated financial statements of Zomato Those Standards and the Guidance Note require that
Limited (hereinafter referred to as “Parent”) and its we comply with ethical requirements and plan and
nine subsidiary companies which are companies perform the audit to obtain reasonable assurance
incorporated in India, as of that date. about whether adequate internal financial controls
with reference to consolidated financial statements
Management’s Responsibility for was established and maintained and if such controls
Internal Financial Controls operated effectively in all material respects.
The respective Board of Directors of the Parent, its
Our audit involves performing procedures to
nine subsidiary companies which are companies
obtain audit evidence about the adequacy of
incorporated in India, are responsible for establishing
the internal financial controls with reference to
and maintaining internal financial controls with
consolidated financial statements and their operating
reference to consolidated financial statements based
effectiveness. Our audit of internal financial controls
on, “the internal control with reference to consolidated
with reference to consolidated financial statements
financial statements criteria established by the
included obtaining an understanding of internal
respective Companies considering the essential
financial controls with reference to consolidated
components of internal control stated in the
financial statements, assessing the risk that a
Guidance Note on Audit of Internal Financial Controls
material weakness exists and testing and evaluating
Over Financial Reporting issued by the Institute
the design and operating effectiveness of internal
of Chartered Accountants of India (ICAI)”. These
control based on the assessed risk. The procedures
responsibilities include the design, implementation
selected depend on the auditor’s judgement, including
and maintenance of adequate internal financial
the assessment of the risks of material misstatement
controls that were operating effectively for ensuring
of the financial statements, whether due to fraud
the orderly and efficient conduct of its business,
or error.
including adherence to the respective company’s
policies, the safeguarding of its assets, the prevention We believe that the audit evidence we have obtained
and detection of frauds and errors, the accuracy and and the audit evidence obtained by the other auditors
completeness of the accounting records and the of nine subsidiary companies which are companies
timely preparation of reliable financial information, incorporated in India, in terms of their reports
as required under the Companies Act, 2013. referred to in the Other Matters paragraph below, is
sufficient and appropriate to provide a basis for our
Auditor’s Responsibility audit opinion on the internal financial controls with
Our responsibility is to express an opinion on reference to consolidated financial statement of the
the internal financial controls with reference to Parent and its nine subsidiary companies which are
consolidated financial statements of the Parent companies incorporated in India.
162
Meaning of Internal Financial Controls are subject to the risk that the internal financial control
with reference to consolidated financial with reference to consolidated financial statements
may become inadequate because of changes in
statements
conditions, or that the degree of compliance with the
A company ’s internal financial control with
policies or procedures may deteriorate.
reference to consolidated financial statements is a
process designed to provide reasonable assurance
Opinion
regarding the reliability of financial reporting and
the preparation of financial statements for external In our opinion to the best of our information and
purposes in accordance with generally accepted according to the explanations given to us and based
accounting principles. A company’s internal financial on the consideration of the reports of the other
control with reference to consolidated financial auditors referred to in the Other Matters paragraph
statements includes those policies and procedures below, the Parent and its nine subsidiary companies
that (1) pertain to the maintenance of records that, which are companies incorporated in India, have, in
in reasonable detail, accurately and fairly reflect all material respects, an adequate internal financial
the transactions and dispositions of the assets of controls with reference to consolidated financial
the company; (2) provide reasonable assurance that statements and such internal financial controls
transactions are recorded as necessary to permit with reference to consolidated financial statements
preparation of financial statements in accordance were operating effectively as at March 31, 2024,
with generally accepted accounting principles and based on the criteria for internal financial control
that receipts and expenditures of the company are with reference to consolidated financial statements
being made only in accordance with authorisations established by the respective companies considering
of management and directors of the company; and (3) the essential components of internal control stated
provide reasonable assurance regarding prevention in the Guidance Note on Audit of Internal Financial
or timely detection of unauthorised acquisition, use Controls Over Financial Reporting issued by the
or disposition of the company’s assets that could Institute of Chartered Accountants of India.
have a material effect on the financial statements.
Other Matters
Inherent Limitations of Internal Our aforesaid report under Section 143(3)(i) of the
Financial Controls with reference to Act on the adequacy and operating effectiveness
consolidated financial statements of the internal financial controls with reference
Because of the inherent limitations of internal financial to consolidated financial statements insofar as
controls with reference to consolidated financial it relates to nine subsidiary companies which are
statements, including the possibility of collusion or companies incorporated in India, is based solely on
improper management override of controls, material the corresponding reports of the auditors of such
misstatements due to error or fraud may occur and companies incorporated in India.
not be detected. Also, projections of any evaluation
of the internal financial controls with reference to Our opinion is not modified in respect of the above
consolidated financial statements to future periods matters.
For Deloitte Haskins & Sells

Sd/-
Vikas Khurana
(Partner)
Date: May 13, 2024 UDIN: 224503760BKFDGW7976
163
Consolidated Balance Sheet

as at March 31, 2024
CIN : L93030DL2010PLC198141
(INR crores)
Particulars Note As at As at
March 31, 2024 March 31, 2023
Assets
Non-current assets
Property, plant and equipment 3 287 209
Capital work-in-progress 3 18 7
Right-of-use asset 35 690 427
Goodwill 4 4,717 4,717
Other intangible assets 4 754 991
Financial assets
Investments 5 10,365 2,280
Other financial assets 11 747 1,894
Tax assets (net) 12 221 116
Other non-current assets 13 99 127
Total non-current assets 17,898 10,768
Current assets
Inventories 14 88 83
Financial assets
Trade receivables 7 794 457
Cash and cash equivalents 8 309 218
Bank balances other than cash and cash equivalents 9 422 799
Loans 10 - 0
Other financial assets 11 2,324 4,418
Other current assets 13 241 371
Total current assets 5,458 10,831
Total assets 23,356 21,599
Equity and liabilities
Equity
Equity share capital 15 (a) 868 836
Other equity 15 (b) 19,545 18,624
Equity attributable to owners of the Parent 20,413 19,460
Non-controlling interests (7) (7)
Total equity 20,406 19,453
164
Consolidated Balance Sheet (Contd.)

CIN : L93030DL2010PLC198141
(INR crores)
March 31, 2024 March 31, 2023
Liabilities
Non-current liabilities
Financial liabilities
Borrowings 16 - 6
Lease liabilities 35 588 351
Other financial liabilities 18 3 5
Provisions 20 88 94
Deferred tax liabilities 38 188 249
Total non-current liabilities 867 705
Current liabilities
Borrowings 16 - 35
Trade payables 17
a. total outstanding dues of micro enterprises and small
15 9
enterprises
b. total outstanding dues of creditors other than micro
871 670
enterprises and small enterprises
Other current liabilities 19 363 276
Provisions 20 29 26
Total current liabilities 2,083 1,441
Total liabilities 2,950 2,146
Total equity and liabilities 23,356 21,599
The accompanying notes are an integral part of the consolidated financial statements.
As per our report of even date attached

For Deloitte Haskins & Sells For and on behalf of the Board of Directors of
Firm registration number: 015125N Zomato Limited
Sd/- Sd/- Sd/-
Vikas Khurana Deepinder Goyal Kaushik Dutta
Partner (Managing Director and (Chairman and
Membership No. 503760 Chief Executive Officer) Independent Director)
(DIN-02613583) (DIN-03328890)
Date: May 13, 2024 Date: May 13, 2024
Sd/- Sd/-
(Chief Financial Officer) (Company Secretary)
(PAN No. AIVPG9914G) (A-29579)
Place: Gurugram Place: Gurugram Place: Gurugram
Date: May 13, 2024 Date: May 13, 2024 Date: May 13, 2024
165
Consolidated Statement of Profit and Loss

for the year ended March 31, 2024
CIN : L93030DL2010PLC198141
(INR crores)
Particulars Note For the year ended For the year ended
March 31, 2024 March 31, 2023
Income
Revenue from operations 21 12,114 7,079
Other income 22 847 682
Total income (I) 12,961 7,761
Expenses
Purchases of stock-in-trade 23 2,887 1,438
Changes in inventories of stock-in-trade 24 (5) (43)
Employee benefits expense 25 1,659 1,465
Finance costs 26 72 49
Depreciation and amortisation expenses 27 526 437
Other expenses 28 7,531 5,429
Total expenses (II) 12,670 8,775
Profit / (loss) before share of profit / (loss) of an

associate, a joint venture, exceptional items and tax 291 (1,014)
(III= I-II)
Share of profit / (loss) of an associate and a joint - (1)
venture (IV)
Profit / (loss) before exceptional items and tax 291 (1,015)
(V=III+IV)
Exceptional items (VI) 29 - (0)
Profit / (loss) before tax (VII= V-VI) 291 (1,015)
Tax expense : 38
Current tax 1 0
Deferred tax (61) (44)
Total tax expense (VIII) (60) (44)
Profit / (loss) for the year (IX= VII-VIII) 351 (971)
Other comprehensive income / (loss)

(a) Items that will not be reclassified to profit or loss:
(i) Remeasurements of the defined benefit plans 3 4
(ii) Equity instruments through other
60 (111)
comprehensive income
(iii) Income tax relating to above - -
Subtotal (X) 63 (107)
(b) Items that will be reclassified to profit or loss:

(i) Exchange differences on translation of foreign
0 8
operations
(ii) Debt instruments through other comprehensive (8) 0
income
Subtotal (XI) (8) 8
166
Consolidated Statement of Profit and Loss (Contd.)

CIN : L93030DL2010PLC198141
(INR crores)
March 31, 2024 March 31, 2023
Other comprehensive income / (loss) for the year
55 (99)
(XII = X+XI)
Total comprehensive income / (loss) for the year
406 (1,070)
(XIII = IX+ XII)
Profit / (loss) for the year attributable to:

Owners of the Parent 351 (971)
Non-controlling interest - 0
351 (971)

attributable to:
Owners of the Parent 55 (99)
Non-controlling interest 0 (0)
55 (99)
Total comprehensive income / (loss) for the year attributable

to:
Owners of the Parent 406 (1,070)
Non-controlling interest 0 -
406 (1,070)
Earnings / (loss) per equity share (INR) (face value of

INR 1 each)
(a) Basic 30 0.41 (1.20)
(b) Diluted 30 0.40 (1.20)

Sd/- Sd/- Sd/-
(DIN-02613583) (DIN-03328890)
Date: May 13, 2024 Date: May 13, 2024
Sd/- Sd/-
167
Consolidated Statement of Change in Equity
CIN : L93030DL2010PLC198141
A. Equity Share Capital

Shares Issued Shares held by ESOP Trust Total outstanding
(A) (Treasury shares) (B) (A-B)
Equity shares of INR 1 each issued, subscribed and fully Number (INR crores) Number (INR crores) Number (INR crores)
paid
As at April 01, 2023 8,55,35,09,770 855 18,95,34,357 19 8,36,39,75,413 836
Add : bonus shares issued during the year (pursuant to 3,25,03,548 3 - - 3,25,03,548 3
exercise of employee stock options)
Company Overview
Add: shares issued on exercise of employee stock options 23,37,70,426 23 - - 23,37,70,426 23

Less: shares issued by ESOP Trust on exercise of - - (5,00,05,651) (5) 5,00,05,651 5
employee stock options
As at March 31, 2024 8,81,97,83,744 882 13,95,28,706 14 8,68,02,55,038 868
Shares Issued Shares held by ESOP Trust Total outstanding

(A) (Treasury shares) (B) (A-B)
Statutory Reports
Equity Share Capital
Equity shares of INR 1 each issued, subscribed and fully Number (INR crores) Number (INR crores) Number (INR crores)
paid
As at April 01, 2022 7,87,19,32,776 787 22,89,92,198 23 7,64,29,40,578 764
Add: shares issued during the year (refer note 31(a)) 62,85,30,012 63 - - 62,85,30,012 63
Add : bonus shares issued during the year (pursuant to 1,28,41,983 1 - - 1,28,41,983 1
Add: shares issued on exercise of employee stock 4,02,04,999 4 - - 4,02,04,999 4
options
Less: shares issued by ESOP Trust on exercise of - - (3,94,57,841) (4) 3,94,57,841 4
As at March 31, 2023 8,55,35,09,770 855 18,95,34,357 19 8,36,39,75,413 836
168
Financial Statements: Consolidated
Consolidated Statement of Change in Equity (Contd.)
CIN : L93030DL2010PLC198141
B. Other equity
For the year ended March 31, 2024 (INR crores)
Description Equity attributable to owners of the Parent Non-controlling Total
interests Equity
Other equity
Capital Share- Securities Retained Treasury Equity Debt Foreign Remeasurements

reserve based premium earnings shares instruments instruments currency of the defined
payment through other through other translation benefit plans
reserve comprehensive comprehensive reserve
income income
As at April 01, 2023 3 1,293 24,713 (7,509) 19 74 0 37 (6) (7) 18,617

Profit for the year - - - 351 - - - - - - 351
Company Overview
Other comprehensive income / (loss) - - - - - 60 (8) 0 3 - 55

Total comprehensive income/ (loss) - - - 351 - 60 (8) 0 3 - 406
Less: transaction cost on issue of
- - (1) - - - - - - - (1)
shares
Add/ (less): transfer on account of
- (1,125) - 1,125 - - - - - - -
exercise of employee stock options
Add: share based payment expense - 515 - - - - - - - - 515
Add: amount collected by ESOP
Trust on exercise of employee stock - - - 9 - - - - - - 9
Statutory Reports
options (net of tax)

Less: share based payment on cash
settlement of option (fractional - - - (0) - - - - - - (0)
shares)
Less: shares issued by ESOP Trust on
- - - - (5) - - - - - (5)
Less: bonus issue of equity shares - - (3) - - - - - - - (3)
As at March 31, 2024 3 683 24,709 (6,024) 14 134 (8) 37 (3) (7) 19,538
169
CIN : L93030DL2010PLC198141
B. Other equity
Description Attributable to the equity holders of the Parent Non-controlling Total
interests
Other equity

income income
As at April 01, 2022 3 1,125 21,292 (6,730) 23 10 - 29 (10) (7) 15,735

Loss for the year - - - (971) - - - - - 0 (971)
Company Overview
Other comprehensive income / (loss) - - - - - (111) 0 8 4 - (99)

Total comprehensive income/ (loss) - - - (971) - (111) 0 8 4 - (1,070)
Add: transfer to retained earnings
- - - - - 175 - - - - 175
(refer note 36)
Add/ (less): transfer on account of
- (360) - 360 - - - - - - -
Add: amount collected by ESOP
Statutory Reports
Trust on exercise of employee stock - - - 7 - - - - - - 7

Add: premium on issue of equity
- - 3,422 - - - - - - - 3,422
shares
Less: transfer from other
comprehensive income (refer note - - - (175) - - - - - - (175)
36)
settlement of option (fractional - - - (0) - - - - - - (0)
shares)
Less: shares issued by ESOP Trust
on exercise of employee stock - - - - (4) - - - - - (4)
options
170
CIN : L93030DL2010PLC198141
(INR crores)
Description Attributable to the equity holders of the Parent Non-controlling Total
interests
Other equity

income income
Less: bonus issue of equity shares - - (1) - - - - - - - (1)

Less: ESOP issuance for unvested
- 22 - - - - - - - - 22
ESOPs on acquisition
As at March 31, 2023 3 1,293 24,713 (7,509) 19 74 0 37 (6) (7) 18,617
Company Overview

For Deloitte Haskins & Sells For and on behalf of the Board of Directors of Zomato Limited
Firm registration number: 015125N
Statutory Reports
Sd/- Sd/- Sd/- Sd/- Sd/-

Vikas Khurana Deepinder Goyal Kaushik Dutta Akshant Goyal Sandhya Sethia
Partner (Managing Director and (Chairman and (Chief Financial Officer) (Company Secretary)
Membership No. 503760 Chief Executive Officer) Independent Director) (PAN No. AIVPG9914G) (A-29579)
(DIN-02613583) (DIN-03328890)
Place: Gurugram Place: Gurugram Place: Gurugram Place: Gurugram Place: Gurugram
Date: May 13, 2024 Date: May 13, 2024 Date: May 13, 2024 Date: May 13, 2024 Date: May 13, 2024
171
Consolidated Statement of Cash Flows

CIN : L93030DL2010PLC198141
(INR crores)
Particulars For the year ended For the year ended

March 31, 2024 March 31, 2023
A) Cash flows from operating activities
Profit / (loss) before tax 291 (1,015)
Adjustments to reconcile profit / (loss) before tax to net cash
flows:
Liabilities written back (9) (28)
Depreciation on property, plant and equipment and depreciation
284 181
on right-of-use assets
Amortisation on intangible assets 242 256
Provision for doubtful debts and advances 68 30
Bad debts written-off 1 1
Gain on termination of lease contracts (10) (8)
Share-based payment expense 515 506
(Profit)/ loss on sale of property, plant and equipment (net) 1 (1)
Net gain on mutual funds (129) (91)
Share in (profit) / loss of associate / joint venture - 1
Interest income on government securities (107) (67)
Interest income on debentures or bonds (320) (0)
Amortisation of premium / (discount) on government securities (41) 14
Amortisation of premium / (discount) on bonds 0 -
Interest expense 2 5
Gain on disposal of investment (1) (0)
Interest on lease liabilities 67 41
Interest income on bank deposits and others (220) (457)
Interest income on income tax refund (1) (5)
Operating profit / (loss) before working capital changes 633 (637)
Movements in working capital :
- Trade receivables (348) (203)
- Other financial assets (293) (198)
- Other assets 134 (4)
- Inventory (5) (43)
- Financial liabilities and other liabilities 419 318
- Provisions 0 25
- Trade payables 211 (71)
Cash generated from / (used in) operations 751 (813)
Income taxes refund / (paid) (net) (105) (31)
Net cash generated from / (used in) operating activities (A) 646 (844)
172
Consolidated Statement of Cash Flows (Contd.)

CIN : L93030DL2010PLC198141
(INR crores)

March 31, 2024 March 31, 2023
B) Cash flows from investing activities
Purchase of property, plant and equipment (including (215) (103)
capital work-in-progress, capital advances and capital
creditors)
Proceeds from sale of property, plant and equipment 13 2
Investments in bank deposits (having maturity of more than
(1,944) (5,433)
3 months)
Proceeds from maturity of bank deposits (having maturity 5,938 8,721
of more than 3 months)
Proceeds from redemption of mutual fund units 29,509 12,649
Investment in mutual fund units (27,010) (14,443)
Sale of non current investments 1 -
Investment in government securities (2,420) (565)
Proceeds from maturity of government securities 935 -
Investment in debentures or bonds (5,772) (50)
Consideration paid for acquisition of warehousing division - (61)
of HOTPL
Loan given - (750)
Loan received back 0 -
Interest received 618 490
Net cash generated from / (used in) investing activities (B) (347) 457
C) Cash flows from financing activities

Proceeds from issue of equity shares 23 4
Borrowing repaid during the year (40) (23)
Transaction cost paid on issue of shares (1) (0)
Share based payment on cash settlement of option (0) (0)
(fractional shares)
Amount collected by ESOP trust on exercise of employee 9 7
stock options (net of tax)
Payment of principal portion of lease liabilities (129) (65)
Payment of interest portion of lease liabilities (67) (41)
Interest expense (2) (9)
Net cash generated / from (used in) financing activities (C) (207) (127)
Net increase/ (decrease) in cash and cash equivalents 92 (514)

(A+B+C)
Cash and cash equivalents acquired through business
- 339
combination
Net foreign exchange difference (1) 1
Cash and cash equivalents at beginning of the year 218 392
Cash and cash equivalents as at end of the year 309 218
173
Consolidated Statement of Cash Flows (Contd.)

CIN : L93030DL2010PLC198141
(INR crores)

March 31, 2024 March 31, 2023
Cash and cash equivalents comprise of :
Balances with banks:
– In current accounts 268 213
– Deposits with original maturity of less than three 39 5
months
Cash on hand 2 0
309 218

Sd/- Sd/- Sd/-
(DIN-02613583) (DIN-03328890)
Date: May 13, 2024 Date: May 13, 2024
Sd/- Sd/-
174
Material Accounting Policies to the

Consolidated Financial Statements
CIN : L93030DL2010PLC198141
1 Corporate Information Standard (Ind AS) prescribed under Section 133 of

Companies Act, 2013 (the “Act”), read with rule 3 of the
Zomato Limited (“Zomato” or “the Company” or “the
companies (Indian Accounting Standards) Rules, 2015
Parent Company”) together with its subsidiaries
and relevant amendments rules issued thereunder.
(including trusts and branches), (collectively referred
to as “the Group”) and its joint venture and associate
The consolidated financial statements have been
primarily operates as an internet portal which helps
prepared on the historical cost basis, except for
in connecting the Users, Restaurant Partners/ Third
the following assets and liabilities which have been
party merchants and the Delivery Partners. It also
measured at fair value:
provides a platform to Restaurant Partners/Brands to
advertise themselves to the target audience in India •
Certain financial assets and liabilities measured
and abroad and supplies high quality ingredients to at fair value (refer accounting policy regarding
Restaurant Partners. financial instruments);
The Company is incorporated and domiciled in India • Defined benefits plan obligations and plan assets
under the provisions of the Companies Act applicable (if any) measured at fair value;
in India. The Company is listed on National Stock
Exchange of India Limited and BSE Limited. The • Share based payments.
registered office of the Company is located at GF –
This note provides a list of the material accounting
12A, 94, Meghdoot, Nehru Place, New Delhi - 110019.
policies adopted in the preparation of these
As on August 10, 2022, the Group has acquired consolidated financial statements.
the Blink Commerce Private Limited (“Blinkit”)
The consolidated financial statements comprise
and warehousing and ancillary service business
the financial statements of the Company and its
(“Warehousing Division”) of Hands on Trade Private
subsidiaries (including trusts) and its share of profit
Limited (“HOTPL”), Blinkit which is a quick commerce
and loss of joint venture and associate for the year
online platform facilitating quick delivery of goods
ended March 31, 2024 and March 31, 2023.
and other essentials by connecting the end users,
delivery personnel and sellers and providing delivery The consolidated financial statements are presented
services; and warehousing and ancillary services in Indian Rupees “INR” or “ `” and all amounts disclosed
business (“Warehousing division”) of HOTPL which in the consolidated financial statement have been
provides warehousing and ancillary services to the rounded off to the nearest crores (as per requirement
sellers. of Schedule III), unless otherwise stated. Further,
amounts which are less than half a crore are appearing
The Group’s consolidated financial statements for
as “0”.
the year ended March 31, 2024 were approved by
the Board of Directors and authorised for issue on
2.2 Basis of consolidation
May 13, 2024.
Subsidiaries:
2 Basis of Preparation of consolidated Subsidiaries include all the entities over which the
financial statements Group has control. Control is achieved when the
Group is exposed, or has rights, to variable returns
2.1 Basis of preparation from its involvement with the investee and has the
hese consolidated financial statements have been
T ability to affect those returns through its power over
prepared in accordance with Indian Accounting the investee.
175

CIN : L93030DL2010PLC198141
The Group re-assesses whether or not it controls an about the relevant activities require unanimous
investee if facts and circumstances indicate that there consent of the parties sharing control.
are changes to one or more of the three elements of
control. Consolidation of a subsidiary begins when the The considerations made in determining whether
Group obtains control over the subsidiary and ceases significant influence or joint control are similar
when the Group loses control. Assets, liabilities, to those necessary to determine control over the
subsidiaries.
income and expenses of a subsidiary acquired or
disposed off during the years are included in the The Group’s investments in its associates or joint
consolidated financial statements from the date the venture are accounted for using the equity method.
Group gains control until the date the Group ceases to Under the equity method, the investment in a joint
control the subsidiary. venture is initially recognised at cost. The carrying
amount of the investment is adjusted to recognise
Consolidated financial statements are prepared using changes in the Group’s share of net assets of the
uniform accounting policies for like transactions and associates or joint venture since the acquisition date.
other events in similar circumstances. If a member of Goodwill relating to the associate or joint venture is
the Group uses accounting policies other than those included in the carrying amount of the investment and
adopted in the consolidated financial statements for is not tested for impairment individually.
like transactions and events in similar circumstances,
appropriate adjustments are made to that Group The consolidated statement of profit and loss reflects
members’ statements in preparing the consolidated the Group’s share of the results of operations of
financial statements to ensure conformity with the the associate or joint venture. Any change in OCI of
Group’s accounting policies. those investees is presented as part of the Group’s
OCI. In addition, when there has been a change
The consolidated financial statements of all entities recognised directly in the equity of the joint venture,
used for the purpose of consolidation are drawn up to the Group recognises its share of any changes, when
same reporting date as that of the parent Company, applicable, in the consolidated statement of changes
i.e., year ended on March 31, 2024 and March 31, 2023. in equity. Unrealised gains and losses resulting from
transactions between the Group and associate,
Investment in associates and joint ventures or joint venture are eliminated to the extent of the
Associate interest in the associate or joint venture.
An associate is an entity over which the Group has
significant influence. Significant influence is the If an entity’s share of losses of an associate or joint
venture equals or exceeds its interest in the associate
power to participate in the financial and operating
or joint venture (which includes any long term
policy decisions of the investee but is not control or
interest that, in substance, form part of the Group’s
joint control over those policies.
net investment in the associate or joint venture),
Joint Venture the entity discontinues recognising its share of
further losses. Additional losses are recognised only
A joint venture is a type of joint arrangement whereby
to the extent that the Group has incurred legal or
the parties that have joint control of the arrangement
constructive obligations or made payments on behalf
have rights to the net assets of the joint venture. Joint
of the associate or joint venture. If the associate or
control is the contractually agreed sharing of control
joint venture subsequently reports profits, the entity
of an arrangement, which exists only when decisions
resumes recognising its share of those profits only
176

CIN : L93030DL2010PLC198141
after its share of the profits equals the share of losses estimates and assumptions that effect the reported
not recognised. amounts of revenues, expenses, assets and liabilities
and the disclosure of contingent liabilities, at the
The aggregate of the Group’s share of profit and loss end of the reporting year. Although these estimates
of an associate and a joint venture is shown on the are based on the management’s best knowledge
face of the consolidated statement of profit and loss. of current events and actions, uncertainty about
these assumptions and estimates could result
The financial statements of the associate or joint
in the outcomes requiring a material adjustment
venture are prepared for the same reporting year as
to the carrying amounts of assets or liabilities in
the Group. When necessary, adjustments are made
future years.
to bring the accounting policies in line with those of
the Group.
The estimates and underlying assumptions are
After application of the equity method, the Group reviewed on an ongoing basis. Revisions to accounting
determines whether it is necessary to recognise an estimates are recognised in the year in which the
impairment loss on its investment in its associate estimate is revised if the revision affects only that
or joint venture. At each reporting date, the Group year, or in the year of the revision and future years
determines whether there is objective evidence if the revision affects both current and future years.
that the investment in the associate or joint
venture is impaired. If there is such evidence, the In particular, information about the significant areas
Group calculates the amount of impairment as the of estimation, uncertainty and critical judgements
difference between the recoverable amount of the in applying accounting policies that have the most
associate or joint venture and its carrying value significant effect on the amounts recognised in the
and then recognises the loss as ‘Share of profit of consolidated financial statements are disclosed in
an associate or joint venture’ in the consolidated note no 2.4.
statement of profit and loss.
b) Business combination and goodwill
Upon loss of significant influence over associate Business combinations are accounted for as follows:
or joint control over the joint venture, the Group
measures and recognises any retained investment Business combinations (other than common control
at its fair value. Any difference between the carrying business combinations) - Acquisition Method
amount of the associate or joint venture upon loss T he cost of an acquisition is measured as the
of significant influence or joint control and the fair aggregate of the consideration transferred measured
value of the retained investment and proceeds from at acquisition date fair value and the amount of any
disposal is recognised in the consolidated statement non-controlling interests in the acquiree.
of profit and loss.
At the acquisition date, the identifiable assets
2.3 Summary of material accounting acquired and the liabilities assumed are recognised
at their acquisition date fair values (except certain
policies
assets and liabilities which are required to be
a) Use of estimates measured as per the applicable standard). For this
The preparation of the consolidated financial purpose, the liabilities assumed include contingent
statements in conformity with the principles of Ind liabilities representing present obligation and they are
AS requires the management to make judgements, measured at their acquisition fair values irrespective
177

CIN : L93030DL2010PLC198141
of the fact that outflow of resources embodying • There is no unconditional right to defer the
economic benefits is not probable. settlement of the liability for at least twelve
months after the reporting year.
For each business combination, the Group elects
whether to measure the non-controlling interests The Group classifies all other liabilities as non-
in the acquiree at fair value or at the proportionate current.
share of the acquiree’s identifiable net assets.
Deferred tax assets and liabilities are classified as
Acquisition-related costs are expensed as incurred.
non-current assets and liabilities.
When the Group acquires a business, it assesses the
The operating cycle is the time between the
financial assets and liabilities assumed for appropriate
classification and designation in accordance with acquisition of assets for processing and their
the contractual terms, economic circumstances and realisation in cash and cash equivalents. The
pertinent conditions as at the acquisition date. Group has identified twelve months as its
operating cycle.
c) Current versus non- current classification
The Group presents assets and liabilities in the d) Foreign currencies
consolidated statement of assets and liabilities based The Group’s consolidated financial statements are
on current/ non-current classification. An asset is presented in INR, which is also the Parent Company’s
treated as current when it is: functional currency.
• Expected to be realised or intended to be sold or The financial statements of each of the Group entity
consumed in normal operating cycle.
are measured using the currency of the primary
• Held primarily for the purpose of trading. economic environment in which the entities forming
part of the Group operates (“functional currency”).
• It is expected to be realised within twelve months The functional currency is normally the currency in
after the reporting year, or which the entities forming part of Group primarily
generates and expends cash.
• Cash or cash equivalent unless restricted from
being exchanged or used to settle a liability for at Transactions and balances
least twelve months after the reporting year.
Transactions in foreign currencies are initially
All other assets are classified as non-current. recorded at their respective functional currencies
using the spot rates at the date when the transaction
A liability is current when: first qualifies for recognition. However, for practical
reasons, the Group uses an average rate if the average
• It is expected to be settled in normal operating
approximates the exchange rates at the date of the
cycle.
transaction.
• Held primarily for the purpose of trading.
Monetary assets and liabilities denominated in foreign
• It is due to be settled within twelve months after currencies are translated at the functional currency
the reporting year, or spot rates of exchange at the reporting date.
178

CIN : L93030DL2010PLC198141
Exchange differences arising on settlement or would use when pricing the asset or liability, assuming
translation of monetary items are recognised in that market participants act in their economic best
consolidated statement of profit and loss. interest.
Non-monetary items that are measured in terms of A fair value measurement of a non-financial asset
historical cost in a foreign currency are translated takes into account a market participant’s ability to
using the exchange rates at the dates of the initial generate economic benefits by using the asset in its
transactions. highest and best use or by selling it to another market
participant that would use the asset in its highest and
Foreign operations
best use.
On consolidation, the assets and liabilities of foreign
operations are translated into Indian Rupees at the The Group uses valuation techniques that are
rate of exchange prevailing at the reporting date and appropriate in the circumstances and for which
their consolidated financial statements of profit and sufficient data are available to measure fair value,
loss are translated at exchange rates prevailing at maximising the use of relevant observable inputs and
the dates of the transactions. For practical reasons, minimising the use of unobservable inputs.
the Group uses an average rate for the period to
translate income and expense items, if the average All assets and liabilities for which fair value is
rate approximates the exchange rates at the dates of measured or disclosed in the consolidated financial
the transactions. The exchange differences arising statements are categorised within the fair value
on translation for consolidation are recognised in OCI. hierarchy, described as follows, based on the
On disposal of a foreign operation, the component of lowest level input that is significant to the fair value
OCI relating to that particular foreign operation is measurement as a whole:
recognised in the consolidated statement of profit
and loss. • Level 1 — Quoted (unadjusted) market prices in
active markets for identical assets or liabilities.
e) Fair value measurement
Fair value is the price that would be received to sell • Level 2 — Valuation techniques for which the
an asset or paid to transfer a liability in an orderly lowest level input that is significant to the fair
transaction between market participants at the value measurement is directly or indirectly
measurement date. The fair value measurement is observable.
based on the presumption that the transaction to sell
the asset or transfer the liability takes place either: • Level 3 — Valuation techniques for which the
lowest level input that is significant to the fair
• In the principal market for the asset or liability, or
value measurement is unobservable.
• In the absence of a principal market, in the most
For assets and liabilities that are recognised in the
advantageous market for the asset or liability.
consolidated financial statements on a recurring
The principal or the most advantageous market must basis, the Group determines whether transfers have
be accessible by the Group. occurred between levels in the hierarchy by re-
assessing categorisation (based on the lowest level
The fair value of an asset or a liability is measured input that is significant to the fair value measurement
using the assumptions that market participants as a whole) at the end of each reporting year.
179

CIN : L93030DL2010PLC198141
For the purpose of fair value disclosures, the Group Improvements to leasehold assets not owned by the
has determined classes of assets and liabilities on Group are amortized over the lease year or estimated
the basis of the nature, characteristics and risks of useful life of such improvements, whichever is lower.
the asset or liability and the level of the fair value
hierarchy as explained above. The management has estimated the useful lives and
residual values of all property, plant and equipment
f) Property, plant and equipment
and adopted useful lives based on management’s
Property, plant and equipment (“PPE”) are stated at
technical assessment of their respective economic
cost, less accumulated depreciation and accumulated
useful lives. The residual values, useful lives and
impairment loss (if any). Such cost includes the
methods of depreciation of property, plant and
expenditure directly attributable to bringing the
equipment are reviewed at each financial year end
asset to the location and condition necessary for it
and adjusted prospectively (if any).
to be capable of operating in the manner intended by
management. Depreciation on the assets purchased during the
Subsequent costs on a PPE are included in the asset’s year is provided on pro-rata basis from the date of
carrying amount only when it is probable that future purchase of the assets. Individual assets costing
economic benefits associated with the item will flow less than ` 5,000 are fully depreciated in the year of
to the Group and the cost of the item can be measured purchase.
reliably. The carrying amount of any component
accounted for as a separate asset is derecognised An item of property, plant and equipment and any
when replaced. Rest of the subsequent costs are significant part initially recognised is derecognised
charged to the statement of profit and loss in the upon disposal or when no future economic benefits
reporting period in which they are incurred. are expected from its use or disposal. Any gain or loss
arising on derecognition of the asset (calculated as
Capital work in progress is stated at cost, net of the difference between the net disposal proceeds
accumulated impairment loss, if any. and the carrying amount of the asset) is included in
the consolidated statement of profit and loss when
Depreciation on all property plant and equipment
the asset is derecognised.
are provided on a straight-line method based on the
estimated useful life of the asset, which is as follows: g) Goodwill and other intangible assets
Property, plant and Useful Useful lives Goodwill represents the cost of acquired business as
equipment lives as per estimated by established at the date of acquisition of the business
Schedule II management in excess of the acquirer’s interest in the net fair value
of the identifiable assets, liabilities and contingent
Air Conditioner 5 years 1-5 years
liabilities less accumulated impairment losses, if any.
Electrical
10 years 1-5 years Goodwill is tested for impairment annually or when
Equipments
events or circumstances indicate that the implied fair
Furniture & Fittings 10 years 1-5 years
value of goodwill is less than the carrying amount.
Computers 3 years 1-3 years
Plant and Machinery 15 years 1 -10 years Intangible assets acquired separately are measured
Motor Vehicles 8 years 5-8 years on initial recognition at cost. The cost of intangible
Telephone assets acquired in a business combination is their fair
5 years 2 years
Instruments value at the date of acquisition.
180

CIN : L93030DL2010PLC198141
Following initial recognition, intangible assets are straight-line basis over their estimated useful life
carried at cost less any accumulated amortisation and which is as follows:
accumulated impairment losses. Internally generated
Nature of assets Life
intangibles, excluding capitalised development costs,
are not capitalised and the related expenditure is Brand 2-5 years
Customer contracts and relationship 1 -10 years
reflected in consolidated statement of profit and loss
Distribution network 5 years
in the year in which the expenditure is incurred.
Technology platform 5 years
The useful lives of intangible assets are assessed as Content/ reviews 5 years
either finite or indefinite. Trademarks 5 years
Restaurant listing platform 6 years
Software and websites (other than those acquired in Non-Compete 2-5 years
business combination) with finite lives are amortised Domain/ Website 3 years
on a straight-line basis over the estimated useful
life being 1-3 years. All intangible assets (other than The amortisation year and method are reviewed
goodwill) are assessed for impairment whenever at least at each financial year-end. If the expected
there is an indication that the intangible asset may be useful life of the asset is significantly different from
impaired. The useful life and the amortisation method previous estimates, the amortisation year is changed
for an intangible asset with a finite useful life are accordingly.
reviewed at least at the end of each reporting year.
h) Leases
Changes in the expected useful life or the expected
The Group assesses at contract inception whether a
pattern of consumption of future economic benefits
contract is, or contains, a lease. That is, if the contract
embodied in the asset are considered to modify the
conveys the right to control the use of an identified
amortisation year or method, as appropriate and are
asset for a year of time in exchange for consideration.
treated as changes in accounting estimates. The
amortisation expense on intangible assets with finite Group as a lessee
lives is recognised in the consolidated statement of The Group applies a single recognition and
profit and loss unless such expenditure forms part of measurement approach for all leases, except for
carrying value of another asset. short-term leases and leases of low-value assets.
The Group recognises lease liabilities to make lease
An intangible asset is derecognised upon disposal payments and right-of-use assets representing the
(i.e., at the date the recipient obtains control) or right to use the underlying assets.
when no future economic benefits are expected from
Right of use assets
its use or disposal. Any gains or losses arising from
The Group recognises right-of-use assets at the
derecognition of an intangible asset are measured as
commencement date of the lease (i.e., the date the
the difference between the net disposal proceeds and
underlying asset is available for use). Right-of-use
the carrying amount of the asset and are recognised
assets are measured at cost, less any accumulated
in the consolidated statement of profit and loss when
depreciation and accumulated impairment losses and
the asset is derecognised.
adjusted for any remeasurement of lease liabilities.
Intangible assets acquired in business combination, The cost of right-of-use assets includes the amount
include brand, consumer contracts and relationship, of lease liabilities recognised, initial direct costs
technology platform, content review, trademarks incurred and lease payments made at or before
and non-compete which are amortized on a the commencement date less any lease incentives
181

CIN : L93030DL2010PLC198141
received. Right-of-use assets are depreciated on a in an index or rate used to determine such lease
straight-line basis over the shorter of the lease term payments) or a change in the assessment of an option
and the estimated useful lives of the assets. The to purchase the underlying asset.
company has lease contracts for office premises Short term leases and lease of low value assets
having a lease term ranging from 1 to 9 years. The Group applies the short-term lease recognition
If ownership of the leased asset transfers to the exemption to its short-term leases of machinery and
Group at the end of the lease term or the cost reflects equipment (i.e., those leases that have a lease term of
the exercise of a purchase option, depreciation is 12 months or less from the commencement date and
calculated using the estimated useful life of the asset. do not contain a purchase option). It also applies the
lease of low-value assets recognition exemption to
The right-of-use assets are also subject to
leases of office equipment that are considered to be
impairment. Refer to the accounting policies in
low value. Lease payments on short-term leases and
section (s) Impairment of non-financial assets.
leases of low-value assets are recognised as expense
Lease liabilities on a straight-line basis over the lease term.
At the commencement date of the lease, the Group
i) Inventories
recognises lease liabilities measured at the present
Inventories are valued at lower of cost and net
value of lease payments to be made over the lease
realisable value. Cost is determined on first in first
term. The lease payments include fixed payments
out basis. Inventory cost includes purchase price
(including in substance fixed payments) less any lease
and other directly attributable costs (such as taxes
incentives receivable, variable lease payments that
other than those subsequently recovered from the
depend on an index or a rate and amounts expected
tax authorities), freight inward and other related
to be paid under residual value guarantees. The lease
incidental expenses incurred in bringing the inventory
payments also include the exercise price of a purchase to its present condition and location.
option reasonably certain to be exercised by the
Group and payments of penalties for terminating the Net realisable value is the estimated selling price in
lease, if the lease term reflects the Group exercising the ordinary course of business less estimated cost
the option to terminate. Variable lease payments that necessary to make the sale.
do not depend on an index or a rate are recognised j) Revenue recognition
as expenses (unless they are incurred to produce The Group generates revenue from online food
inventories) in the year in which the event or condition delivery transactions, quick commerce marketplace
that triggers the payment occurs. transactions, warehousing services, advertisements,
In calculating the present value of lease payments, subscriptions, sale of traded goods and other ancillary
the Group uses its incremental borrowing rate at the services.
lease commencement date because the interest Revenue towards satisfaction of a performance
rate implicit in the lease is not readily determinable. obligation is measured at the amount of transaction
After the commencement date, the amount of lease price (net of variable consideration) allocated towards
liabilities is increased to reflect the accretion of that performance obligation. The transaction price
interest and reduced for the lease payments made. of goods sold and services rendered is net of any
In addition, the carrying amount of lease liabilities taxes collected from customers, which is remitted
is remeasured if there is a modification, a change in to government authorities and variable consideration
the lease term, a change in the lease payments (e.g., on account of various discounts and rebates offered
changes to future payments resulting from a change by the Group. The transaction price is an amount
182

CIN : L93030DL2010PLC198141
of consideration to which the entity expects to Service provided by third party/restaurant partners
be entitled in exchange for transferring promised and commission income:
goods or services. Consideration includes goods or The Group considers itself as a principal in an
services contributed by the customer, as non-cash arrangement when it controls the goods or service
consideration, over which Group has control. provided. The Group has concluded that it does not
control the goods or service provided by the third
Where performance obligation is satisfied over time,
party merchants/Restaurants.
the Group recognizes revenue over the contract
period. Where performance obligation is satisfied at The Group recognises the commission revenue earned
a point in time, the Group recognizes revenue when from Restaurant Partners/third party merchants on a
customer obtains control of promised goods and point of time basis.
services in the contract. Incentives
Platform services and transactions The Group provides various types of incentives to the
The Group operates as an internet portal connecting users to promote the transactions on its platform.
the Users, Restaurant Partners/Third party merchants In most of the cases Group is not responsible for
and the Delivery Partners. The Group has separate services to the user or does not receive consideration
contractual arrangement with the User, Restaurant from the user. In such cases, the Group does not
Partners/Third party merchants and the Delivery consider the user as a customer and hence the
Partners respectively which specify the rights and incentives paid to users are recorded as expenses.
obligations of each of the parties. A user initiates Further, the Group does not consider User as a
the transaction which requires acceptance from customer of the Restaurant partner/ third party
the Restaurant Partners/Third party merchants and merchants for the services provided by the Group, as
Delivery Partner. The acceptance of the transaction, the Group is not providing the goods and services of
combined with the contractual agreement creates Restaurant partner/ third party merchants. In case
enforceable rights and obligations for each of the where Group has considered the users as a customer,
parties. the incentives paid to users are netted off in revenue
Identification of customer against the amount charged from the users.
The Group considers a party to be a customer if a) it is Advertisement revenue
providing any services to the party and b) is receiving Advertisement revenue is derived principally from
any consideration from the party. Based on the the sale of online advertisements which is usually run
contractual arrangement, the Restaurant Partners/ over a contracted period of time. The revenue from
Third party merchants are considered as customers. advertisements is thus recognised over this contract
In case of end user, the Group has entered in two period as the performance obligation is met over the
types of arrangement: contract period. There are some contracts where in
addition to the contract period, the Company assures
1. The users are considered customers in limited
certain clicks/impressions (which are generated each
circumstances when a specific service fee is
time viewers on our platform clicks/views through the
charged to the user and
advertiser’s advertisement on the platform) to the
2. The users are considered as customers where the advertisers. In these cases, the revenue is recognised
Group, is responsible for delivery of goods to the when both the conditions of time period and number
end users. of clicks/impressions assured are met.
183

CIN : L93030DL2010PLC198141
Subscription revenue The amount of consideration disclosed as revenue

Revenues from subscription contracts are recognized is net of incentives or other items offered to the
over the subscription period on systematic basis in customers.
accordance with terms of agreement entered with Interest
customer. Interest income is recognized using the effective
Sign-up revenue interest method. Interest income is included under
The Group receives a sign-up amount from its the head “other income” in the consolidated statement
restaurant partners and delivery partners. These of profit and loss.
are recognised on receipt or over a period of time in Contract balances:
accordance with terms of agreement entered into Contract assets
with such relevant partner. The Group recognises a contract asset when there
exists a right, to receive consideration in exchange
Warehousing services
for goods or services already transferred to the
Revenue from rendering of warehousing services is customer which is conditioned on something
recognised when control over the services transfers other than passage of time (e.g. The Group’s future
to the customer i.e., when the customer has the ability performance obligation).
to control the use of the transferred services provided
Trade receivables
and generally derive their remaining benefits.
A receivable represents the Group’s right to an
Delivery facilitation services amount of consideration that is unconditional (i.e.,
The Group is a technology platform provider enabling only the passage of time is required before payment
delivery partners to provide their delivery services of the consideration is due).
to the Restaurant Partners/Users and may charge Contract liabilities
a fee for providing the platform services to Delivery The Group recognises a contract liability for an
Partners which is recognised as revenue on a point in obligation to transfer goods or services to a customer
time basis. The Group has no control over the delivery for which the Group has received consideration (or the
services provided by the delivery partners. amount is due) from the customer.
Delivery services k) Retirement and other employee benefits
In certain arrangements the Group is responsible for Retirement benefit in the form of provident fund and
providing delivery services in such cases the Group social security is a defined contribution scheme. The
recognises the delivery fee received as revenue on a Group has no obligation, other than the contribution
point in time basis. payable to the provident fund/social security.
The Group recognizes contribution payable to the
Sale of traded goods
provident fund scheme/ social security scheme as
Revenue is recognised to depict the transfer of an expense, when an employee renders the related
control of promised goods to merchants (i.e. upon service. If the contribution payable to the scheme
the satisfaction of performance obligation) at an for service received before the balance sheet date
amount that reflects the consideration to which the exceeds the contribution already paid, the deficit
entity expects to be entitled in exchange for those payable to the scheme is recognized as a liability
goods. Consideration includes goods contributed by after deducting the contribution already paid. If the
the customer, as non-cash consideration, over which contribution already paid exceeds the contribution
Group has control. due for services received before the balance
184

CIN : L93030DL2010PLC198141
sheet date, then excess is recognized as an asset discounted using the market yields at the end of the
(representing a reduction in future payment or a cash reporting year that have terms approximating to the
refund). terms of the related obligation. Remeasurements
as a result of experience adjustments and changes
In case of other foreign subsidiary companies and
in actuarial assumptions are recognised in Profit
foreign branches, contributions are made as per
and loss.
the respective country laws and regulations. The
same is charged to consolidated statement of profit l) Taxes
and loss. There is no obligation beyond the Group’s Current income tax
contribution. Current income tax assets and liabilities are measured
at the amount expected to be recovered from or paid
The Group operates a defined benefit gratuity plan in
to the taxation authorities. The tax rates and tax
India and United Arab Emirates.
laws used to compute the amount are those that are
The cost of providing benefits under the defined enacted or substantively enacted, at the reporting
benefit plan is determined using the projected unit date in the countries where the Group operates and
credit method. generates taxable income.
Remeasurements, comprising of actuarial gains and
Current income tax relating to items recognised
losses, excluding amounts included in net interest
outside consolidated profit and loss is recognised
on the net defined benefit liability are recognised
outside consolidated profit and loss (either in other
immediately in the consolidated statement of assets
comprehensive income or in equity). Current tax
and liabilities with a corresponding debit or credit
items are recognised in correlation to the underlying
to OCI in the year in which they occur. They are then
transaction either in OCI or directly in equity.
accumulated in a separate reserve. Remeasurements
Management yearly evaluates positions taken in
are not reclassified to consolidated statement of
the tax returns with respect to situations in which
profit and loss in subsequent years.
applicable tax regulations are subject to interpretation
The Group recognises the following changes in the and establishes provisions where appropriate.
net defined benefit obligation as an expense in the
consolidated statement of profit and loss: Advance taxes and provisions for current income
taxes are presented in the consolidated statement
•
Service costs comprising current service
of assets and liabilities after off setting advance tax
costs, past-service costs, gains and losses on
paid and income tax provision arising in the same tax
curtailments and non-routine settlements; and
jurisdiction and where the relevant tax paying unit
• Net interest expense intends to settle the asset and liability on a net basis.
Compensated Absences
Deferred taxes
In some countries the Group has liabilities for earned
Deferred tax is provided using the liability method
leaves which are not expected to be settled wholly
on temporary differences between the tax bases of
within 12 months after the end of the period in which
assets and liabilities and their carrying amounts for
the employees render the related service. These
financial reporting purposes at the reporting date.
obligations are therefore measured as the present
value of expected future payments to be made in Deferred tax liabilities are recognised for all taxable
respect of services provided by employees up to temporary differences, except:
the end of the reporting period by actuaries using • When the deferred tax liability arises from the
the projected unit credit method. The benefits are initial recognition of goodwill or an asset or
185

CIN : L93030DL2010PLC198141
liability in a transaction that is not a business tax asset to be utilised. Unrecognised deferred tax
combination and, at the time of the transaction, assets are re-assessed at each reporting date and are
affects neither the accounting profit nor taxable recognised to the extent that it has become probable
profit and loss and does not give rise to equal that future taxable profits will allow the deferred tax
taxable and deductible temporary differences. asset to be recovered.
• In respect of taxable temporary differences Deferred tax assets and liabilities are measured at the
associated with investments in subsidiaries, tax rates that are expected to apply in the year when
associates and interests in joint ventures, when the asset is realised or the liability is settled, based
the timing of the reversal of the temporary on tax rates (and tax laws) that have been enacted or
differences can be controlled and it is probable substantively enacted at the reporting date.
that the temporary differences will not reverse
in the foreseeable future. Deferred tax relating to items recognised outside
consolidated statement of profit and loss is
Deferred tax assets are recognised for all deductible recognised outside consolidated statement of profit
temporary differences, the carry forward of unused and loss (either in other comprehensive income
tax credits and any unused tax losses. Deferred tax or in equity). Deferred tax items are recognised in
assets are recognised to the extent that it is probable correlation to the underlying transaction either in OCI
that taxable profit will be available against which or directly in equity.
the deductible temporary differences and the carry
forward of unused tax credits and unused tax losses Deferred tax assets and deferred tax liabilities are
can be utilised, except: offset if a legally enforceable right exists to set off
current tax assets against current tax liabilities and
• When the deferred tax asset relating to the the deferred taxes relate to the same taxable entity
deductible temporary difference arises from and the same taxation authority.
the initial recognition of an asset or liability in a
transaction that is not a business combination m) Share based payments
and, at the time of the transaction, affects neither mployees (including senior executives) of the Group
E
the accounting profit nor taxable profit and receive remuneration in the form of share-based
loss and does not give rise to equal taxable and payments, whereby employees render services as
deductible temporary differences. consideration for equity instruments (equity-settled
transactions).
• In respect of deductible temporary differences
associated with investments in subsidiaries, The cost of equity-settled transactions is determined
associates and interests in joint ventures, by the fair value at the date when the grant is made
deferred tax assets are recognised only to the using an appropriate valuation model.
extent that it is probable that the temporary
differences will reverse in the foreseeable future That cost is recognised, together with a corresponding
and taxable profit will be available against which increase in share-based payment (SBP) reserves in
the temporary differences can be utilized. equity, over the year in which the performance and/or
service conditions are fulfilled in employee benefits
The carrying amount of deferred tax assets is reviewed expense. The cumulative expense recognised for
at each reporting date and reduced to the extent that equity-settled transactions at each reporting date
it is no longer probable that sufficient taxable profit until the vesting date reflects the extent to which
will be available to allow all or part of the deferred the vesting period has expired and the Group’s best
186

CIN : L93030DL2010PLC198141
estimate of the number of equity instruments that the Company, measured at the cancellation date. Any
will ultimately vest. The expense or credit in the such excess from the fair value of equity instrument
consolidated statement of profit and loss for a year shall be recognised as an expense.
represents the movement in cumulative expense
recognised as at the beginning and end of that year The dilutive effect of outstanding options is reflected
and is recognised in employee benefits expense. as additional share dilution in the computation of
diluted earnings per share.
Service and non-market performance conditions are
not taken into account when determining the grant n) Segment reporting
date fair value of awards, but the likelihood of the Operating segments are defined as components of
conditions being met is assessed as part of the Group’s an enterprise for which discrete financial information
best estimate of the number of equity instruments that is available that is evaluated regularly by the chief
will ultimately vest. Market performance conditions operating decision maker (“CODM”), in deciding how
are reflected within the grant date fair value. Any to allocate resources and assessing performance.
other conditions attached to an award, but without The Group’s CODM is the Chief Executive Officer and
an associated service requirement, are considered Managing Director of the Company.
to be non-vesting conditions. Non-vesting conditions
The Group’s reporting segments till June 30, 2023
are reflected in the fair value of an award and lead to
were as follows:
an immediate expensing of an award unless there are
also service and/or performance conditions. 1. India food ordering and delivery
No expense is recognised for awards that do not 2. Hyperpure supplies (B2B business)
ultimately vest because non-market performance
and/or service conditions have not been met. Where 3. Quick commerce
awards include a market or non-vesting condition, 4. All other segments (residual)
the transactions are treated as vested irrespective
of whether the market or non-vesting condition is Owing to changes in the information provided to
satisfied, provided that all other performance and/or the CODM, with effect from July 01, 2023, the Group
service conditions are satisfied. has identified “Going out” as a new operating and
reportable segment, which was earlier presented as
When the terms of an equity-settled award are a part of “All other segments”. Thus, the segments for
modified, the minimum expense recognised is the the Group are now as follows:
expense had the terms had not been modified, if the
original terms of the award are met. An additional 1. India food ordering and delivery
expense is recognised for any modification that 2. Hyperpure supplies (B2B business)
increases the total fair value of the share-based
3. Quick commerce
payment transaction or is otherwise beneficial to the
employee as measured at the date of modification. 4. Going Out
5. All other segments (residual)
For cancelled options, the payment made to the
employee shall be accounted for as a deduction India food ordering and delivery is the online platform
from equity, except to the extent that the payment through which the Group facilitate food ordering and
exceeds the fair value of the equity instruments of delivery of the food items by connecting the end
187

CIN : L93030DL2010PLC198141
users, restaurant partners and independent delivery preference dividends and attributable taxes) by
partner. the weighted average number of equity shares,
compulsorily convertible cumulative preference
Hyperpure is our farm-to-fork supplies offering for shares and compulsorily convertible preference
restaurants in India and sale of items to businesses shares outstanding during the year.
for onward sales.
For the purpose of calculating diluted earnings per
Quick commerce comprises of online marketplace share, the net profit and loss for the year attributable
platform (“Marketplace”) which enables listing of to equity shareholders of the Parent Company and
items sold on the Marketplace by the sellers. End the weighted average number of shares outstanding
users are able to place orders of these listed items during the year are adjusted for the effects of all
on the mobile application which are delivered to their dilutive potential equity shares.
doorsteps within minutes. Quick commerce also
includes warehousing and ancillary services provided
p) Treasury shares
The Group has created an Employee Benefit Trust
to the sellers on the Marketplace.
(EBT). The Group uses EBT as a vehicle for distributing
Going-out is a combination of our Dining-out and shares to employees under the employee stock option
Zomato Live business verticals; Customers / end schemes. The Group treats EBT as its extension and
users use our dining-out offering to search and shares held by EBT are treated as treasury shares.
discover restaurants, reserve tables, avail offers and
Own equity instruments that are held by the trust
make payments while dining-out at restaurants. In our
are recognised at cost and deducted from equity. No
Zomato Live offering, customers can discover and
gain or loss is recognised in consolidated statement
book tickets through our platform for various kinds of
of profit and loss on the purchase, sale, issue, or
entertainment events including our Zomaland event.
cancellation of the Group’s own equity instruments.
The Group has combined and disclosed balancing Any difference between the carrying amount and
number in all other segments which are not reportable. the consideration, if reissued, is recognised in other
equity.
Revenue and expenses directly attributable to
segments are reported under each reportable q) Provisions and contingent liabilities
segment. Expenses which are not directly identifiable Provisions
to any reporting segment have been allocated to Provisions are recognised when the Group has
respective segments based on the number orders, a present obligation (legal or constructive) as a
number of employees or gross market value as result of a past event, it is probable that an outflow
reviewed by CODM. of resources embodying economic benefits will
be required to settle the obligation and a reliable
The amounts presented in note 39 for the comparative estimate can be made of the amount of the obligation.
periods has been revised to meet the requirements of The expense relating to a provision is presented in the
Ind AS 108. consolidated statement of profit and loss net of any
reimbursement.
o) Earnings per share
asic earnings per share are calculated by dividing the
B If the effect of the time value of money is material,
net profit and loss for the year attributable to equity provisions are discounted using a current pre-tax rate
shareholders of the Parent Company (after deducting that reflects, when appropriate, the risks specific to
188

CIN : L93030DL2010PLC198141
the liability. When discounting is used, the increase in In order for a financial asset to be classified and
the provision due to the passage of time is recognised measured at amortised cost or fair value through
as a finance cost. OCI, it needs to give rise to cash flows that are ‘solely
payments of principal and interest (SPPI)’ on the
Contingent liabilities principal amount outstanding. This assessment is
Contingent liability is a possible obligation that referred to as the SPPI test and is performed at an
arises from past events and the existence of which instrument level. Financial assets with cash flows
will be confirmed only by the occurrence or non- that are not SPPI are classified and measured at
occurrence of one or more uncertain future events fair value through profit or loss, irrespective of the
not wholly within the control of the Group, or is a business model.
present obligation that arises from past event but
is not recognised because either it is not probable The Company’s business model for managing
that an outflow of resources embodying economic financial assets refers to how it manages its financial
benefits will be required to settle the obligation, or assets in order to generate cash flows. The business
a reliable estimate of the amount of the obligation model determines whether cash flows will result
cannot be made. Contingent liabilities are disclosed from collecting contractual cash flows, selling the
and not recognised. financial assets, or both. Financial assets classified
and measured at amortised cost are held within a
r) Financial instruments business model with the objective to hold financial
A financial instrument is any contract that gives rise assets in order to collect contractual cash flows while
to a financial asset of one entity and a financial liability financial assets classified and measured at fair value
or equity instrument of another entity. through OCI are held within a business model with the
objective of both holding to collect contractual cash
Financial assets flows and selling.
Initial recognition and measurement:
Financial assets are classified, at initial recognition, Purchases or sales of financial assets that require
as subsequently measured at amortised cost, fair delivery of assets within a time frame established by
value through other comprehensive income (OCI) and regulation or convention in the market place (regular
fair value through profit or loss. The classification way trades) are recognised on the trade date, i.e.,
of financial assets at initial recognition depends the date that the Group commits to purchase or sell
on the financial asset’s contractual cash flow the asset.
characteristics and the Company’s business model for
Subsequent Measurement
managing them.
Debt instruments: Subsequent measurement of
debt instruments depends on the Group’s business
All financial assets are recognised initially at fair value
model for managing the asset and the cash flow
plus, (in the case of financial assets not recorded at
characteristics of the asset. There are three
fair value through consolidated statement of profit
measurement categories into which the Group
or loss) transaction costs that are attributable to
classifies its debt instruments:
the acquisition of the financial asset. Transaction
costs of financial assets carried at fair value through
• A mortised cost: Assets that are held for
profit or loss expensed off in the statement of profit
collection of contractual cash flows those cash
& loss. Trade receivable that does not contain a
flows represent solely payments of principal and
significant financing component are measured at
interest are measured at amortised cost. Interest
transaction price.
income from these financial assets is included in
189

CIN : L93030DL2010PLC198141
finance income using the effective interest rate measured at FVOCI are not reported separately
method. Any gain or loss arising on derecognition from other changes in fair value.
and impairment losses (if any) are recognised
directly in profit or loss. The Group’s financial Changes in the fair value of financial assets at fair
assets subsequently measured at amortised value through profit or loss are recognised in the
cost includes trade receivables, loans and certain statement of profit and loss.
other financial assets etc.
The Group has made an irrevocable election to
• air value through other comprehensive
F present subsequent changes in the fair value
income (FVOCI): Assets that are held for of certain investment in equity and preference
collection of contractual cash flows and for instruments not held for trading in other
selling the financial assets, where the assets’ comprehensive income.
cash flows represent solely payments of
principal and interest, are measured at FVOCI. Derecognition
Movements in the carrying amount are taken A financial asset (or, where applicable, a part of a
through OCI except for the recognition of financial asset or part of a group of similar financial
impairment gains or losses, interest income assets) is primarily derecognised (i.e., removed from
and foreign exchange gains and losses which the Group’s consolidated financial statements of
are recognised in profit and loss. When the assets and liabilities) when:
financial asset is derecognised, the cumulative
i) The rights to receive cash flows from the asset
gain or loss previously recognised in OCI is
have expired, or
reclassified from equity to profit or loss.
ii) The Group has transferred its rights to receive
Fair value through profit or loss: Assets
•
cash flows from the asset or has assumed an
that do not meet the criteria for amortised
obligation to pay the received cash flows in full
cost or FVOCI are measured at fair value
without material delay to a third party under a
through profit or loss. A gain or loss on a debt
‘pass-through’ arrangement; and either (a) the
investment that is subsequently measured at
Group has transferred substantially all the risks
fair value through profit or loss is recognised
and rewards of the asset, or (b) the Group has
in profit or loss.
neither transferred nor retained substantially
The Group subsequently measures all equity all the risks and rewards of the asset, but has
investments at fair value. transferred control of the asset.
Where the Group’s management has elected When the Group has transferred its rights to
to present fair value gains and losses on equity receive cash flows from an asset or has entered
investments in other comprehensive income, into a pass-through arrangement, it evaluates
there is no subsequent reclassification of fair if and to what extent it has retained the risks
value gains and losses to profit or loss following and rewards of ownership. When it has neither
the derecognition of the investment. Dividends transferred nor retained substantially all of the
from such investments are recognised in profit or risks and rewards of the asset, nor transferred
loss when the Group’s right to receive payments control of the asset, the Group continues to
is established. Impairment losses (and reversal recognise the transferred asset to the extent of
of impairment losses) on equity investments the Group’s continuing involvement. In that case,
190

CIN : L93030DL2010PLC198141
the Group also recognises an associated liability. he Group’s financial liabilities include trade and other
T
The transferred asset and the associated liability payables and borrowings including bank overdrafts
are measured on a basis that reflects the rights and liability component of convertible instruments.
and obligations that the Group has retained.
Subsequent measurement
Continuing involvement that takes the form of a The measurement of financial liabilities depends on
guarantee over the transferred asset is measured their classification, as described below:
at the lower of the original carrying amount of the
asset and the maximum amount of consideration inancial liabilities at amortised cost (Loans and
F
that the Group could be required to repay. borrowings)
After initial recognition, interest-bearing loans and
Impairment of financial assets borrowings are subsequently measured at amortised
The Group assesses on a forward looking basis the cost using the EIR method. Gains and losses are
expected credit losses associated with its assets recognised in profit or loss when the liabilities are
carried at amortised cost and FVOCI debt instruments. derecognised as well as through the EIR amortisation
Different impairment methodologies are applied process.
depending on whether there has been a significant
increase in credit risk or not. For trade receivables, Amortised cost is calculated by taking into account
the Group applies the simplified approach required any discount or premium on acquisition and fees
by Ind AS 109, which requires expected lifetime or costs that are an integral part of the EIR. The
losses to be recognised from initial recognition of EIR amortisation is included as finance costs in the
the receivables. statement of profit and loss. This category generally
applies to borrowings.
he application of simplified approach does not
T
require the Group to track changes in credit risk. inancial liabilities at fair value through profit or loss
F
Rather, it recognizes impairment loss allowance Financial liabilities at fair value through profit or loss
based on lifetime ECLs at each reporting date, right include financial liabilities held for trading or financial
from its initial recognition. The Group has established liabilities designated upon initial recognition as at fair
a provision matrix that is based on its historical value through profit or loss.
credit loss experience, adjusted for forward-looking
inancial liabilities are classified as held for trading
F
factors specific to the debtors and the economic
if they are incurred for the purpose of repurchasing
environment.
in the near term.
ains or losses on liabilities held for trading are
G
Initial recognition and measurement recognised in the consolidated statement of profit
Financial liabilities are classified, at initial recognition, and loss.
as financial liabilities at fair value through profit or
loss, loans and borrowings, payables, as appropriate. Financial liabilities designated upon initial
recognition at fair value through profit or loss are
All financial liabilities are recognised initially at fair designated as such at the initial date of recognition
value and, in the case of loans and borrowings and and only if the criteria in Ind AS 109 are satisfied.
payables, net of directly attributable transaction For liabilities designated as FVTPL, fair value gains/
costs. losses attributable to changes in own credit risk
191

CIN : L93030DL2010PLC198141
are recognized in OCI. These gains/ losses are not and is written down to its recoverable amount. In
subsequently transferred to P&L. However, the Group assessing value in use, the estimated future cash
may transfer the cumulative gain or loss within equity. flows are discounted to their present value using a
All other changes in fair value of such liability are pre-tax discount rate that reflects current market
recognised in the consolidated statement of profit assessments of the time value of money and the
and loss. risks specific to the asset. In determining fair value
less costs of disposal, recent market transactions
Derecognition are taken into account. If no such transactions can
A financial liability is derecognised when the obligation be identified, an appropriate valuation model is used.
under the liability is discharged or cancelled or These calculations are corroborated by valuation
expires. When an existing financial liability is replaced multiples, quoted share prices for publicly traded
by another from the same lender on substantially companies or other available fair value indicators.
different terms, or the terms of an existing liability
are substantially modified, such an exchange or The Group bases its impairment calculation on
modification is treated as the derecognition of the detailed budgets and forecast calculations, which
original liability and the recognition of a new liability. are prepared separately for each of the Group’s CGUs
The difference in the respective carrying amounts is to which the individual assets are allocated. These
recognised in the consolidated statement of profit budgets and forecast calculations generally cover
and loss. a year of five years. For longer years, a long-term
growth rate is calculated and applied to project future
Offsetting of financial instruments cash flows after the fifth year. To estimate cash
Financial assets and financial liabilities are offset flow projections beyond years covered by the most
and the net amount is reported in the consolidated recent budgets/forecasts, the Group extrapolates
statement of assets and liabilities if there is a currently cash flow projections in the budget using a steady or
enforceable legal right to offset the recognised declining growth rate for subsequent years, unless
amounts and there is an intention to settle on a net an increasing rate can be justified. In any case, this
basis, to realise the assets and settle the liabilities growth rate does not exceed the long-term average
simultaneously. growth rate for the products, industries, or country
or countries in which the entity operates, or for the
s) Impairment of non-financial assets
market in which the asset is used.
The Group assesses at each reporting date, whether
there is an indication that an asset may be impaired. Impairment losses are recognised in the consolidated
If any indication exists, or when annual impairment statement of profit and loss.
testing for an asset is required, the Group estimates the
asset’s recoverable amount. An asset’s recoverable For the purpose of impairment testing, goodwill
amount is the higher of an asset’s or cash-generating acquired in a business combination is allocated to
unit’s (CGU) fair value less costs of disposal and its cash-generating units that are expected to benefit
value in use. Recoverable amount is determined from the combination, irrespective of whether other
for an individual asset, unless the asset does not assets or liabilities of the acquiree are assigned to
generate cash inflows that are largely independent those units.
of those from other assets or groups of assets. When
the carrying amount of an asset or CGU exceeds its A cash generating unit to which goodwill has been
recoverable amount, the asset is considered impaired allocated is tested for impairment annually, or more
192

CIN : L93030DL2010PLC198141
frequently when there is an indication that the unit differences to the extent regarded as an adjustment
may be impaired. For the business which are similar to the borrowing costs.
in nature for the purpose of impairment testing of
goodwill, the Company considers such businesses u) Cash and cash equivalents
as one cash generating unit. Cash and cash equivalent in the consolidated
statement of assets and liabilities comprise cash at
If the recoverable amount of the cash generating banks and on hand and short-term deposits with an
unit is less than its carrying amount, the impairment original maturity of three months or less, which are
loss is allocated first to reduce the carrying amount subject to an insignificant risk of changes in value.
of any goodwill allocated to the unit and then to the
For the purpose of the consolidated statement of
other assets of the unit pro rata based on the carrying
cash flows, cash and cash equivalents consist of
amount of each asset in the unit. cash and short-term deposits, as defined above,
net of outstanding bank overdrafts (if any) as they
For assets excluding goodwill, an assessment is made
are considered an integral part of the Group’s cash
at each reporting date to determine whether there is
management.
an indication that previously recognised impairment
losses no longer exist or have decreased. If such v) Events occurring after the balance sheet
indication exists, the Group estimates the asset’s or date
CGU’s recoverable amount. A previously recognised Based on the nature of the event, the Group identifies
impairment loss is reversed only if there has been the events occurring between the balance sheet date
a change in the assumptions used to determine the and the date on which the consolidated financial
asset’s recoverable amount since the last impairment statements are approved as ‘Adjusting Event’ and ‘Non-
loss was recognised. The reversal is limited so that adjusting event’. Adjustments to assets and liabilities
the carrying amount of the asset does not exceed its are made for events occurring after the balance sheet
recoverable amount, nor exceed the carrying amount date that provide additional information materially
that would have been determined, net of depreciation, affecting the determination of the amounts relating
had no impairment loss been recognised for the asset to conditions existing at the balance sheet date or
in prior years. Such reversal is recognised in the because of statutory requirements or because of
consolidated statement of profit and loss unless the their special nature. For non-adjusting events, the
Group may provide a disclosure in the consolidated
asset is carried at a revalued amount, in which case,
financial statements considering the nature of the
the reversal is treated as a revaluation increase.
transaction.
t) Borrowing costs
Borrowing costs directly attributable to the
2.4 Significant accounting judgements,
acquisition, construction or production of an asset estimates and assumptions
that necessarily takes a substantial year of time to The preparation of the financial statements requires
management to make judgements, estimates and
get ready for its intended use or sale are capitalised
assumptions that affect the reported amounts of
as part of the cost of the asset. All other borrowing
revenues, expenses, assets and liabilities. Uncertainty
costs are expensed in the year in which they occur.
about these assumptions and estimates could result
Borrowing costs consist of interest and other costs
in outcomes that require a material adjustment to
that an entity incurs in connection with the borrowing
of funds. Borrowing cost also includes exchange
193

CIN : L93030DL2010PLC198141
the carrying amount of assets or liabilities affected consistent with the currencies of the post-
in future periods. employment benefit obligation.
Judgements The mortality rate is based on publicly available

In the process of applying the accounting policies, mortality table . The mortality table tend to change
management has made the following judgements, only at interval in response to demographic changes.
which have the most significant effect on the amounts Future salary increases and gratuity increases are
recognised in the financial statements: based on expected future inflation rates.
The key assumptions concerning the future and Further details about gratuity obligations are given
other key sources of estimation uncertainty at the in note 33.
reporting date, that have a significant risk of causing
a material adjustment to the carrying amounts of Fair value measurement of financial instruments
assets and liabilities within the financial year, are When the fair values of financial assets and financial
described below: liabilities recorded in the balance sheet cannot be
measured based on quoted prices in active markets,
a. The Group based its assumptions and estimates their fair value is measured using valuation techniques
on parameters available when the consolidated and inputs to be used. The inputs to these models
financial statement were prepared. are taken from observable markets where possible,
but where this is not feasible, a degree of judgement
b. Existing circumstances and assumptions about is required in establishing fair values. Judgements
future developments, however, may change due include considerations of inputs such as liquidity
to market changes or circumstances arising that risk, credit risk and volatility. Changes in assumptions
are beyond the control of the Group. Such changes about these factors could affect the reported fair
are reflected in the assumptions when they occur. value of financial instruments.
Defined benefit plans (gratuity benefits) Impairment of Goodwill

The cost of the defined benefit gratuity plan and Goodwill recognised on business combination is
the present value of the gratuity obligation are tested for impairment on annual basis or whenever
determined using actuarial valuations. An actuarial there is an indication that the recoverable amount
valuation involves making various assumptions that of the cash generating unit (CGU) is less than the
may differ from actual developments in the future. carrying amount. The calculation of value in use
These include the determination of the discount of a CGU involves use of significant assumptions
rate, future salary increases and mortality rates. including future economic and market conditions.
Due to the complexities involved in the valuation and
its long-term nature, a defined benefit obligation is Control and significant influence assessment
highly sensitive to changes in these assumptions. All As disclosed in Note 2.2, Control is achieved when the
assumptions are reviewed at each reporting date. Company is exposed, or has rights, to variable returns
from its involvement with the investee and has the
The parameter most subject to change is the discount ability to affect those returns through its power over
rate. In determining the appropriate discount rate the investee. Similarly, when the Company invests in
for plans operated, the management considers the an entity, it also assesses whether it has significant
interest rates of government bonds in currencies
194

CIN : L93030DL2010PLC198141
influence over the investee. Significant influence is advertisement and sales promotion expenses. Some
the power to participate in the financial and operating of the factors considered in management’s evaluation
policy decisions of the investee but does not of such incentives being payments on behalf of
constitute control or joint control over those policies. restaurant merchants include whether the incentives
The Company exercises significant judgment in are given at the Group’s discretion, contractual
order to assess whether it controls or has significant agreements with the restaurant merchants, business
influence over the investee. strategy and objectives and design of the incentive
program(s), etc.
Incentives
As disclosed in Note 2.3 (j), the Group provides Deferred tax recognition
incentives to its transacting users in various forms Deferred tax asset (DTA) is recognized only when
including credits and direct payment discounts to and to the extent there is convincing evidence that
promote traffic on its platform. All incentives given to the Company will have sufficient taxable profits in
the users where the Group is responsible for delivery future against which such assets can be utilized.
are recorded as a reduction of revenue to the extent of Significant management judgment is required to
the revenue earned from that user on a transaction by determine the amount of deferred tax assets that can
transaction basis. The amount of incentive in excess be recognised, based upon the likely timing and the
of the revenue earned from the transacting users level of future taxable profits together with future tax
is recorded as advertisement and sales promotion planning strategies, recent business performance
expense. In other cases, where Group is not responsible and developments.
for delivery, management is required to determine
whether the incentives are in substance a payment
on behalf of the restaurant merchants and should
therefore be recorded as a reduction of revenue or
195
Notes to the Consolidated Financial Statements
CIN : L93030DL2010PLC198141
3 Property, Plant and Equipment & Capital work-in-progress (CWIP)

(INR crores)
Property, Plant and Equipment CWIP**
Leasehold Air Electrical Furniture Computers Motor Telephone Plant & Total
improve- Conditioner Equipement and Vehicles Instrument Machinery
ment fitting
Gross carrying value

At March 31, 2022 40 0 6 4 71 1 4 13 139 1
Additions 36 - 13 8 22 0 0 28 107 7
Assets acquired on acquisition 9 - 15 7 17 0 - 62 110 8
Assets acquired by way of business
3 - 3 4 1 - - 23 34 7
Company Overview
transfer
Disposal (2) (0) (2) (2) (16) (0) (1) (4) (27) -
Transfer to PPE - - - - - - - - - (16)
Foreign currency translation reserve* 0 0 0 0 0 0 0 - 0 -
At March 31, 2023 86 0 35 21 95 1 3 122 363 7
Additions 30 - 39 4 42 0 1 99 215 55
Disposal (1) - (1) (1) (17) (0) (0) (29) (49) -
Transfer to PPE - - - - - - - - - (44)
At March 31, 2024 115 0 73 24 120 1 4 192 529 18
Accumulated depreciation
Statutory Reports
At March 31, 2022 29 0 4 3 47 1 4 1 88 -

Depreciation 14 0 9 7 27 0 0 31 88 -
Disposals (2) (0) (2) (1) (14) (1) (1) (1) (22) -
At March 31, 2023 41 0 11 9 60 (0) 3 31 154 -
Depreciation 18 - 19 8 34 0 0 46 125 -
Disposals (1) - (0) (1) (17) (0) (0) (18) (37) -
At March 31, 2024 58 0 30 16 77 (0) 3 59 242 -
Net Block
At March 31, 2023 45 - 24 12 35 1 0 91 209 7
At March 31, 2024 57 - 43 8 43 1 1 133 287 18
*Adjustment represent amount of foreign exchange fluctuation on conversion of foreign operations.

** Refer note 45
196
CIN : L93030DL2010PLC198141
4 Other intangible assets and Goodwill

(INR crores)
Other Intangible assets Goodwill
Software Trademarks Brand Customer Distribution Tech Content/ Restaurants Non Total other
and Contract & Network Platform Reviews Listing Compete intangible
website Relationship Platform assets
At March 31, 2022 11 3 288 61 - 85 6 1 135 589 1,553
Additions 0 - 797 49 50 225 - - 45 1,166 3,507
Deletions / adjustments (0) (0) (123) - - - - - (135) (258) -
Adjustment on account of sale of
- - - - - - - - - - -
business
Company Overview
Foreign currency translation reserve* 0 0 30 3 - 2 0 - - 35 -

At March 31, 2023 11 3 991 113 50 312 6 1 45 1,532 5,060
Additions 5 - - - - - - - - 5 -
Deletions / adjustments (0) - - - - - - - - (0) -
- - - - - - - - - - -
business
Foreign currency translation reserve* 0 - - - - - - - - 0 -
At March 31, 2024 16 3 991 113 50 312 6 1 45 1,537 5,060
Accumulated amortization
At March 31, 2022 11 3 203 15 0 56 4 0 99 392 2
Charge for the year 0 - 135 32 6 41 - - 42 256 -
Statutory Reports
Deletions / adjustments (0) (0) (123) - - - - - (135) (258) -

- - - - - - - - - - -
business
Foreign currency translation reserve* 0 0 31 2 - 1 0 - - 34 -
At March 31, 2023 11 3 246 49 6 98 5 0 6 424 2
Charge for the year 1 - 159 18 10 45 - - 9 242 -
Deletions / adjustments (0) - - - - - - - - (0) -
- - - - - - - - - - -
business
Foreign currency translation reserve* 0 - - - - - - - - 0 -
At March 31, 2024 12 3 405 67 16 143 5 0 15 666 2
Impairment Loss
At March 31, 2022 0 0 51 47 - 18 1 1 - 118 341
Foreign currency translation reserve* - - - - - - - - - - -
At March 31, 2023 0 0 51 47 - 18 1 1 - 118 341
Foreign currency translation reserve* - - - - - - - - - - -
At March 31, 2024 0 0 51 47 - 18 1 1 - 118 341
Net Block
At March 31, 2023 - - 694 18 44 196 - - 39 991 4,717
At March 31, 2024 4 - 535 - 34 151 - - 30 754 4,717
197


CIN : L93030DL2010PLC198141
Impairment of CGU containing goodwill

For the purpose of impairment testing, goodwill acquired in a business combination is allocated to the cash
generating unit (CGU), which benefits from the synergies of the acquisition.CGUs which have goodwill allocated
to them are tested for impairment at least annually. The Group recognises impairment, when the carrying
amount of CGUs including goodwill, exceeds the estimated recoverable amount of CGU. The Group’s CGUs
containing goodwill are as follows:
1. India food ordering and delivery (Goodwill: INR 1,209 crores)
2. Blink Commerce Private Limited (“BCPL”) (Goodwill: INR 3,507 crores)
The recoverable value of India food ordering and delivery CGU is determined based on the market value of the
Company.The recoverable value of BCPL CGU is estimated based on the discounted cash flows method. The
significant unobservable inputs used in the estimation of recoverable value are discount rate and terminal
growth rate. The discount rate used for such computations is the weighted average cost of capital of the
Company which contain such CGU.
The estimated recoverable amount of CGU exceeded its carrying amount and accordingly, no impairment was
recognised.
No reasonably possible change in the terminal growth rate would cause the recoverable amount to fall shorter
than the carrying amount.
5 Financial assets - Investments (non-current)

(INR crores)
Particulars As at March 31, 2024 As at March 31, 2023
A) Investment accounted for using equity method

Investment in associates
ZMT Europe LDA Nil (March 31, 2023 : 300) quota of
- 0
EUR 300 (sold w.e.f November 03, 2023)
Add: Share of profit of associate - - (0) -
B) I nvestments measured at fair value through other

comprehensive income (FVTOCI)
(i) Investment in unquoted equity instruments
designated at FVTOCI (fully paid up)
Investment in Equity Share
1 (March 31, 2023 : 1) Equity Shares of face value
INR 1,000 each fully paid in Hands on Trades Private 0 0
Limited
Add: fair value through other comprehensive income - 0 - 0
1 (March 31, 2023 : 1) Equity Shares of face value INR 1
0 0
each fully paid in Curefit Healthcare Private Limited
Add: fair value through other comprehensive income (0) 0 0 0
198

CIN : L93030DL2010PLC198141
(INR crores)
9,824 (March 31, 2023 : 9,824) Equity shares of face

value INR 10 each fully paid in BigFoot Retail Solutions 33 33
Private Limited
Add: fair value through other comprehensive income 3 36 3 36
10 (March 31, 2023 : 10) Equity Shares of face value INR
0 0
10 each fully paid in Adonmo Private Limited
10 each fully paid in Urbanpiper Technology Private 0 0
Limited
0 0
10 each fully paid in Mukunda Foods Private Limited
Add: fair value through other comprehensive income (0) 0 (0) 0
Investment in Preference Shares
4,48,361 (March 31, 2023 : 4,48,361) 0.0001 %
compulsorily convertible preference shares with a
223 223
face value of INR 1,000 each fully paid in Hands on
Trades Private Limited
1,55,08,043 (March 31, 2023 : 1,55,08,043) Series F
CCPS 0.01% compulsorily convertible preference
750 750
shares with face value INR 483 each fully paid in Curefit
Healthcare Private Limited
1,32,082 (March 31, 2023 : 1,32,082) Series E CCPS
0.0001% compulsorily convertible preference shares
450 450
with face value of INR 355 each fully paid in BigFoot
Retail Solutions Private Limited
21,832 (March 31, 2023 : 21,832) Series B CCPS 0.0001%
compulsorily convertible preference shares with
74 74
face value of INR 333 each fully paid in BigFoot Retail
Solutions Private Limited
55,514 (March 31, 2023 : 55,514) Series D CCPS 0.001 %
compulsorily convertible preference shares with a face
371 371
value of INR 10 each fully paid in Samast Technologies
Private Limited
199

CIN : L93030DL2010PLC198141
(INR crores)

112 112
face value of INR 10 each fully paid in Adonmo Private
Limited
37 37
a face value of INR 10 each fully paid in Urbanpiper
Technology Private Limited
13,289 (March 31, 2023 : 13,289) Series B1 CCPS 0.01%
38 38
face value of INR 10 each fully paid in Mukunda Foods
Private Limited
Aggregate amount of FVTOCI investment in unquoted
2,223 2,163
equity instruments
(ii) Investment in unquoted debt instruments measured

at FVTOCI
Debentures or bonds 5,696 50
Add: fair value through other comprehensive income (21) 5,675 0 50
Government securities 2,453 -
Add: fair value through other comprehensive income 14 2,467 - -
Aggregate amount of unquoted debt instruments
8,142 50
measured at FVTOCI
Aggregate amount of FVTOCI Investments 10,365 2,213
C) Investments in unquoted debt instruments

measured at amortised cost
Government securities - 67
Aggregate amount of unquoted investments (A+B+C) 10,365 2,280
200

CIN : L93030DL2010PLC198141
6 Financial assets - Investments (current)

(INR crores)
A) Investments measured at fair value through profit or
loss (FVTPL) (Quoted)
Mutual funds 1,167 3,537
B) Investments in unquoted debt instruments measured at
amortised cost
Government securities 65 948
C) Investment in unquoted debt instruments measured at
FVTOCI
Debentures or bonds 48 -
Add: fair value through other comprehensive income (0) 48 - -
Total Investments (A+B+C) 1,280 4,485
Aggregate amount of quoted investments 1,167 3,537
Aggregate market value of quoted investments 1,167 3,537
Aggregate amount of unquoted investments 113 948
7 Trade receivables
(INR crores)
Particulars As at As at
March 31, 2024 March 31, 2023
Trade receivables
Unsecured, considered good 794 457
Trade receivables-credit impaired 21 17
815 474
Impairment allowance (allowance for bad and doubtful debts)
Trade receivables-credit impaired (21) (17)
Total trade receivables 794 457
The allowance for doubtful debts and changes in the allowance for doubtful accounts during the year ended
as of that date was as follows:
(INR crores)
March 31, 2024 March 31, 2023
Opening balance 17 11
Add: addition / (reversal) of impairment allowance of trade receivables-
6 11
credit impaired
Add: impairment allowance on trade receivables acquired on
- 4
acquisition
Less: write offs/adjustments (2) (9)
Closing balance 21 17
No trade or other receivable are due from directors or other officers of the Company either severally or jointly with any other person.
Except as disclosed in note 37 , no trade or other receivable are due from firms or private companies respectively in which any director
is a partner, a director or a member.
Trade receivables are non-interest bearing and are generally on terms of 0 to 90 days.
Refer note 44 for trade receivable ageing
201

CIN : L93030DL2010PLC198141
8 Cash and cash equivalents

(INR crores)
March 31, 2024 March 31, 2023

– Deposits with original maturity of less than three months 39 5
Cash on hand 2 0
Total cash and cash equivalents 309 218
For the purpose of the statement of cash flows, cash and cash equivalents comprise of the following:
(INR crores)
March 31, 2024 March 31, 2023

– Deposits with original maturity of less than three months 39 5
Cash on hand 2 0
309 218
9 Bank balances other than cash and cash equivalents

(INR crores)
March 31, 2024 March 31, 2023
Bank deposits with original maturity of more than three months but less 419 794
than 12 months
Bank balances (including deposits) held as margin money 3 5
Total bank balances other than cash and cash equivalents 422 799
10 Loans
(INR crores)
March 31, 2024 March 31, 2023
Current
Loan to related party (refer note 37)
Considered good- unsecured - 0
Total current Loans - 0
202

CIN : L93030DL2010PLC198141
11 Other financial assets

(INR crores)
Non-current
Unsecured, considered good, unless stated otherwise
Margin money deposits 1 1
Bank deposits with original maturity for more than 12
662 1,782
months
Interest accrued on fixed deposits and others 32 63
Security deposits 52 48
Total non-current other financial assets 747 1,894
Current
Bank deposits with original maturity for more than 12 months 1,397 3,911
Security deposit 34 17
Less: impairment allowance (9) 25 (8) 9
Amount recoverable in cash 126 125
Amount recoverable from payment gateways 386 120
Less: impairment allowance - 386 (1) 119
Total current other financial assets 2,324 4,418
12 Tax assets (net)

(INR crores)
March 31, 2024 March 31, 2023
Non-current
Advance tax / tax deducted at source 225 118
Less: provision for tax (4) (2)
Total tax assets 221 116
203

CIN : L93030DL2010PLC198141
13 Other assets
(INR crores)
Non-current
Prepaid expenses 85 101
Capital advances 14 26
Total non-current other assets 99 127
Current
Staff imprest 1 1
Advances to supplier 67 64
Other advances - 5
Balance with statutory/government authorities 176 297
Total current assets 241 371
14 Inventories
(INR crores)
March 31, 2024 March 31, 2023
Traded goods (at lower of cost or net realizable value) 88 83

Total inventories 88 83
204

CIN : L93030DL2010PLC198141
15 (a) Share capital

(INR crores)
March 31, 2024 March 31, 2023
Authorised Share Capital

14,48,63,29,341 (March 31, 2023: 8,80,00,00,000) equity shares of INR 1
1,449 880
each
Nil (March 31, 2023: 1,00,000) Compulsorily Convertible Cumulative
- 0
Preference Shares of face value of INR 10/- each ("Class A")
Nil (March 31, 2023: 32,800) Class B 0.0001% Compulsorily Convertible
- 0
Cumulative Preference Shares of face value of INR 10/- ("Class B")
Nil (March 31, 2023: 27,327) Class C 0.0001% Compulsorily Convertible
- 0
Cumulative Preference Shares of face value of INR 10/- ("Class C")
Nil (March 31, 2023: 28,460) Class D 0.0001% Compulsorily Convertible
- 0
Cumulative Preference Shares of face value of INR 10/- ("Class D")
Nil (March 31, 2023: 93,05,51,391) Class E 0.0001% Compulsorily
- 93
Convertible Preference Shares of face value of INR 1/- ("Class E")
Nil (March 31, 2023: 19,06,53,540) Class F 0.0001% Compulsorily
- 38
Convertible Preference Shares of face value of INR 2/- ("Class F")
Nil (March 31, 2023: 10,885) Class G 0.00000015% Compulsorily
Convertible Cumulative Preference Shares of face value of INR 6,700/- - 7
("Class G")
Nil (March 31, 2023: 83,425) Class H 0.00000015% Compulsorily
("Class H")
Nil (March 31, 2023: 1,16,350) Class I 0.00000015% Compulsorily
("Class I")
Nil (March 31, 2023: 1,20,000) Class J 0.00000015% Compulsorily
("Class J")
Nil (March 31, 2023: 76,376) Non-Voting 0.00000010% Class Non
Voting I-2 Compulsorily Convertible Cumulative Preference Shares - 69
of face value of INR 9,000 ("Class Non Voting I-2")
Nil (March 31, 2023: 1200) Class J2 0.00000015% Compulsorily Convertible
- 1
Cumulative Preference Shares of face value of INR 6,700/- ("Class J2")
Nil (March 31, 2023: 16,000) Class J3 0.00000015% Compulsorily
("Class J3")
("Class J4")
205

CIN : L93030DL2010PLC198141
(INR crores)
March 31, 2024 March 31, 2023
Nil (March 31, 2023: 12,700) Class J5-1 0.00000015% Compulsorily

("Class J5-1")
("Class J5-2")
Nil (March 31, 2023: 1,270) Class J6 0.00000015% Compulsorily Convertible
- 1
Cumulative Preference Shares of face value of INR 6,700/- ("Class J6")
("Class J7")
Nil (March 31, 2023: 50,000) Class K 0.00000015% Compulsorily
("Class K")
1,449 1,449
Issued, subscribed and fully paid-up equity shares
882 855
each
Less: 13,95,28,706 (March 31, 2023: 18,95,34,357) Shares held by ESOP
(14) (19)
trust as at the year end of INR 1 each
868 836
i) Reconciliation of the shares outstanding at the beginning and at the end of the
reporting year
Equity shares
Number (INR crores) Number (INR crores)

At the beginning of the year 8,55,35,09,770 855 7,87,19,32,776 787
Add: shares issued during the year (refer note
- - 62,85,30,012 63
31(a))
Add : bonus shares issued during the year 3,25,03,548 3 1,28,41,983 1
Add: shares issued on exercise of employee
23,37,70,426 23 4,02,04,999 4
stock options
Subtotal 8,81,97,83,744 882 8,55,35,09,770 855
Less: shares held by ESOP trust as at the year
13,95,28,706 14 18,95,34,357 19
end
Outstanding at the end of the year 8,68,02,55,038 868 8,36,39,75,413 836
206

CIN : L93030DL2010PLC198141
ii) Details of Shareholders holding more than 5% shares in the Company

Equity shares of INR 1 each fully paid up
Number % of Holding Number % of Holding

Info Edge (India) Limited 1,19,46,87,095 13.55% 1,19,46,87,095 13.97%
Antfin Singapore Holding Pte Ltd 37,38,55,225 4.24% 55,02,50,900 6.43%
Terms/rights attached to equity shares

The Company has only one class of equity shares having a par value of INR 1 per share. Each holder of equity
is entitled to one vote per share. Dividends (including proposed dividends), if any, are declared and paid or
proposed in Indian rupees. The dividend proposed if any by the Board of Directors is subject to the approval of
the shareholders in the ensuing Annual General Meeting.
In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining
assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to
the number of equity shares held by the shareholders.
As per records of the Company, including its register of shareholders/members and other declarations received
from shareholders regarding beneficial interest, the above shareholding represents both legal and beneficial
ownership of shares. The Company is professionally managed and does not have an identifiable promoter.
iii) In the period of five years immediately preceding March 31, 2024:
i) The Company had allotted 76,376 fully paid up shares of face value INR 9,000/- each during the year
ended March 31, 2020 pursuant to business combination with Uber India Systems Private Limited for
non-cash consideration.
ii) The Company had allotted 1,576 fully paid up equity shares of face value INR 1/- each during the year
ended March 31, 2021 pursuant to acquisition of Jogo Technologies Private Limited (“FitSo”) for non
cash consideration.
iii) The Company has approved and allotted bonus shares during the financial year ended March 31, 2022
in the ratio of 1:6699 to existing equity shareholders and has also approved bonus issuance to option
holders whose name appears in the register of employee stock options, which will be issued basis the
equity shares held by the option holders upon the exercise of the option.
iv) During the previous year ended March 31, 2023 Zomato Limited had acquired 33,018 equity shares of
Blink Commerce Private Limited (formerly known as Grofers India Private Limited) (“BCPL”) by issuance
and allotment of 62,85,30,012 equity shares (refer note 31(a)).
v) For details of shares reserved for issue under the employee stock option (ESOP) plan of the Group,
please refer note 34.
207

CIN : L93030DL2010PLC198141
15 (b) Other equity

(INR crores)
March 31, 2024 March 31, 2023
Capital reserve
Balance at the beginning of the year 3 3
3 3
Securities premium
Balance at the beginning of the year 24,713 21,292
Add: premium on issue of equity shares - 3,422
Less: bonus issue of equity shares (pursuant to exercise of employee
(3) (1)
stock options)
Less: transaction cost on issue of shares (1) (0)
24,709 24,713
Share-based payment reserve
Add: share based payment expense 515 506
Add: ESOP issuance for unvested ESOPs on acquisition (refer note 31) - 22
Less: transfer to retained earning on exercise of employee stock
(1,125) (360)
options
683 1,293
Retained earnings
Balance at the beginning of the year (7,509) (6,730)
Add: transfer from share-based payment reserve on exercise of
1,125 360
Add: amount collected by ESOP Trust on exercise of employee stock
9 7
Less: transfer from Equity instruments through other comprehensive
- (175)
income (refer note 36)
Less: Profit / (loss) for the year 351 (971)
Less: share based payment on cash settlement of option (fractional
(0) 0
shares)
Net deficit in the statement of profit and loss (6,024) (7,509)
Treasury shares
Less : shares issued by ESOP Trust on exercise of employee stock
(5) (4)
options
14 19
Remeasurements of the defined benefit plans
Balance at the beginning of the year (6) (10)
Add: during the year 3 4
(3) (6)
208

CIN : L93030DL2010PLC198141
(INR crores)
March 31, 2024 March 31, 2023
Foreign currency translation reserve
Add during the year 0 8
37 37
Equity instruments through other comprehensive income
Add / (less) : during the year 60 (111)
Add: Transfer to Retained earning (refer note 36) - 175
134 74
Debt instruments through other comprehensive income
Balance at the beginning of the year 0 -
Add : during the year (8) 0
(8) 0
Total 19,545 18,624
15 (c) Nature and purpose of reserves

Capital reserve
The Group recognises profit or loss on purchase, sale, issue or cancellation of the Group’s own equity
instruments to capital reserve.
Securities premium
Securities premium is used to record the premium on issue of shares. The reserve is utilised in accordance
with the provisions of section 52 of the Companies Act, 2013.
Share based payment reserve
The share options based payment reserve is used to recognise the grant date fair value of options issued to
employees under Employee stock option plan.
Retained earnings
Retained earnings represent the net profit or loss accumulated by the Group till date, adjusted for
any distributions made to shareholders and any transfers from Other Comprehensive Income (OCI) or
reclassification/adjustments within the other equity, as per applicable accounting framework.
Treasury shares
Own equity instruments that are held by the Parent/(trust) are recognised at cost and deducted from equity.
No gain or loss is recognised in the consolidated statement of profit and 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/transferred, is recognised in equity.
Remeasurements comprising of actuarial gains and losses, excluding amounts included in net interest on the
net defined benefit liability are recognised immediately in the OCI in the period in which they occur. They are
then accumulated in a separate reserve named as “Remeasurement of defined benefit plans”. These amounts
are not reclassified to consolidated statement of profit and loss in subsequent years.
209

CIN : L93030DL2010PLC198141

Exchange differences arising on translation of the foreign operations are recognised in other comprehensive
income and are accumulated in foreign currency translation reserves. The cumulative amount is reclassified
to profit or loss when the foreign operations are disposed-off.

The Group has elected to recognise changes in the fair value of certain investments in equity securities in
other comprehensive income. These changes are accumulated within the “Equity instruments through other
comprehensive income” within other equity. The Group transfers amounts from this reserve to retained
earnings when the relevant equity securities are derecognised.

Debt instruments through other comprehensive income represents the cumulative gains (net of losses)
arising on revaluation of debt instruments measured at fair value through other comprehensive income, net
of amounts reclassified, if any, to profit or loss when those instruments are disposed off.
16 Borrowings
(INR crores)
March 31, 2024 March 31, 2023
Redeemable non-convertible debentures - secured

Non-current - 6
Current - 35
Total borrowings - 41
17 Trade payables
(INR crores)
March 31, 2024 March 31, 2023
Trade payables
Total outstanding dues of micro enterprises and small enterprises 15 9
Total outstanding dues of creditors other than micro enterprises and
871 670
small enterprises
Total trade payables 886 679
Trade payables are non-interest bearing and are normally settled on 0-60 days terms.
Refer note 43 for trade payable ageing
210

CIN : L93030DL2010PLC198141
18 Other financial liabilities

(INR crores)
March 31, 2024 March 31, 2023
Non Current
Security deposit payable 3 5
Total non-current other financial liabilities 3 5
Current
Capital creditors 17 11
Amount payable to merchant 588 271
Payable to customers 13 12
Other payable 19 15
Total current other financial liabilities 644 310
19 Other current liabilities

(INR crores)
March 31, 2024 March 31, 2023
Unearned revenue 22 35
Advances from customers 17 17
Statutory dues :
Provident fund payable 5 3
Employee state insurance payable 0 -
Professional tax payable 0 -
Goods and services tax payable 224 153
TDS payable 83 66
Other statutory dues payable 0 0
Others 12 2
Total other current liabilities 363 276
20 Provisions
(INR crores)
March 31, 2024 March 31, 2023
Non-current
Provisions for gratuity (refer note 33) 60 52
Provisions for compensated absences (refer note 33) 28 42
Total non-current provisions 88 94
211

CIN : L93030DL2010PLC198141
(INR crores)
March 31, 2024 March 31, 2023
Current
Total current provisions 29 26
21 Revenue from operations

(INR crores)
March 31, 2024 March 31, 2023
Sale of services
Revenue from services 8,943 5,563
Sale of goods
Revenue from sale of traded goods 3,171 1,472
Other operating revenue * - 44

Total revenue from operations ** 12,114 7,079
* Pertaining to provision of services in the United Arab Emirates (UAE) to Talabat Middle East Internet Services Company LLC (Talabat)
for its delivery business in UAE.
** The above revenues are net of adjustments amounting to INR 194 crores (March 31, 2023: INR 13 crores) on account of discounts
and consideration payable to customers.
Timing of revenue recognition

(INR crores)
Particulars For the year ended March 31, 2024
Revenue Revenue Other Total

from from sale operating
services of traded revenue
goods
Services and goods rendered at a point in time 7,230 3,171 - 10,401

Services rendered over time 1,713 - - 1,713
Total revenue from contract with customers 8,943 3,171 - 12,114
212

CIN : L93030DL2010PLC198141
(INR crores)

services of traded revenue
goods
Services and goods rendered at a point in time 4,664 1,472 44 6,180

Services rendered over time 899 - - 899
Total revenue from contract with customers 5,563 1,472 44 7,079
Contract balances
The following table provides information about receivables and contract liabilities
(INR crores)
March 31, 2024 March 31, 2023
Trade receivables* 794 457

Contract liabilities 39 52
*This includes unbilled receivable of INR 136 crores (March 31, 2023: INR 78 crores).
Notes:
1. The unbilled receivable primarily relate to the Group’s rights to consideration for work completed but
not billed at the reporting date on which the Group’s right to consideration is unconditional. A right to
consideration is unconditional if only the passage of time is required before payment of that consideration
is due.
2. Contract liabilities relates to payments received in advance of performance and unearned revenue against
which amount has been received from customer but services are yet to be rendered on the reporting date
either in full or in parts. Contract liabilities are recognised on completion / satisfaction of performance
obligation
a) Changes in unearned revenue during the year ended were as follows:
(INR crores)
March 31, 2024 March 31, 2023
Additions during the year 21 35
Less: revenue recognized (25) (50)
Less: adjustments to revenue due to a contract modification or
(9) (1)
foreign exchange difference
Closing balance * 22 35
*The closing unearned revenue is expected to recognised within 1 year.
213

CIN : L93030DL2010PLC198141
b) Changes in advances from customers during the year ended were as follows:
(INR crores)
March 31, 2024 March 31, 2023
Less: revenue recognised (9) (4)
Less: advances written back (3) (6)
22 Other income
(INR crores)
March 31, 2024 March 31, 2023
Interest income on:
- On financial assets measured at amortised cost:
- Bank deposits 214 405
- Government securities 38 67
- Others 6 52
- On financial assets at fair value through other
- Debentures or bonds 320 0
- Government securities 110 -
- Income tax refund 1 5
Net gain arising on financial assets measured at fair
value through profit or loss:
- Net gain on sale of mutual fund units 146 75
- Fair value gain / (loss) on mutual fund units (17) 129 16 91
Other non operating Income
Liabilities written back 9 28
Profit on sale of property, plant and equipment (net) - 1
Gain on termination of lease contracts (refer note 35) 10 8
Foreign exchange gain (net) 1 3
Others * 9 22
Total other income 847 682
* includes INR Nil crores (March 31, 2023: INR 14 crores) amortisation of unearned revenue relating to assignment of certain restaurant
contracts pertaining to its delivery business in the United Arab Emirates (UAE) to Talabat Middle East Internet Services Company
LLC (Talabat).
214

CIN : L93030DL2010PLC198141
23 Purchases of stock-in-trade
(INR crores)
March 31, 2024 March 31, 2023
Purchases of stock-in-trade 2,887 1,438

Purchases of stock-in-trade 2,887 1,438
24 Changes in inventories of stock in trade

(INR crores)
March 31, 2024 March 31, 2023
Inventory at the beginning of the year 83 40

Inventory at the end of the year 88 83
Change in inventory (5) (43)
25 Employee benefits expense

(INR crores)
March 31, 2024 March 31, 2023
Salaries and wages 1,057 905

Contribution to provident fund and other funds 28 15
Share based payment expense (refer note 34) 515 506
Gratuity expenses (refer note 33) 26 20
Staff welfare expenses 33 19
Total employee benefits expense 1,659 1,465
26 Finance costs
(INR crores)
March 31, 2024 March 31, 2023
Interest
- To others 2 5
Others
- Bank charges 3 2
- Other charges 0 1
Interest on lease liabilities (refer note 35) 67 41
Total finance cost 72 49
215

CIN : L93030DL2010PLC198141
27 Depreciation and amortisation expenses

(INR crores)
March 31, 2024 March 31, 2023
Depreciation on property, plant and equipment 125 88

Depreciation on right-of-use assets (refer note 35) 159 93
Total depreciation and amortisation expenses 526 437
28 Other expenses
(INR crores)
March 31, 2024 March 31, 2023
Power and fuel 51 23
Rent (refer note 35) 44 42
Rates and taxes 42 35
Repairs and maintenance 67 30
Advertisement and sales promotion 1,432 1,227
Outsourced support cost 330 297
Delivery and related charges 3,915 2,537
Travelling and conveyance 32 24
Freight and cartage 170 115
Packaging and consumables 124 57
Server and communication cost 185 159
IT support services 300 228
Recruitment cost 5 6
Insurance 63 45
Commission and brokerage 112 92
Postage and courier cost 21 13
Printing and stationary 4 3
Security expense 48 28
Event infrastructure and artist fee 34 43
Legal and professional fee 74 80
Less: bad debt against opening provision (2) 1 (6) 1
Loss on sale of property, plant and equipment 1 -
Amount written off 15 37
Less: amount written off against opening provision (15) - (37) -
Warehousing management expenses 211 129
Miscellaneous expenses 7 30
Payment gateway charges 190 155
Total other expenses 7,531 5,429
216

CIN : L93030DL2010PLC198141
29 Exceptional items
(INR crores)
March 31, 2024 March 31, 2023
Gain on sale/ disposal of investment - (0)

Total exceptional items - (0)
30 Earnings per equity share

Basic Earnings Per Share (EPS) and Diluted Earnings Per Share (EPS) amounts are calculated by dividing the
profit / (loss) for the year attributable to owners of the Parent by the weighted average number of equity shares
outstanding during the year.
The following reflects the income and equity share data used in the basic and diluted EPS computations.

March 31, 2024 March 31, 2023
Profit / (loss) attributable to owners of the Parent (INR crores) 351 (971)
Weighted average number of equity shares in calculating basic
8,49,34,97,136 8,10,11,58,888
EPS
Weighted average number of equity shares in calculating diluted
8,75,52,46,830 8,10,11,58,888
EPS
Face value of equity shares (INR) 1 1
Basic earnings per share (INR) 0.41 (1.20)
Diluted earnings per share (INR)* 0.40 (1.20)
* For the year ended March 31, 2023 employee stock options are not considered for calculation of EPS since they were anti-dilutive
in nature.
217

CIN : L93030DL2010PLC198141
31 (a) Business combinations

Acquisition during the previous year ended March 31, 2023
Acquisition of Blink Commerce Private Limited (formerly known as Grofers India Private Limited)
(“BCPL”)
“The Board of Directors of the Company on June 24, 2022 had approved acquisition of 33,018 (thirty three
thousand and eighteen) equity shares of BCPL for a total purchase consideration of INR 4,448 crores at a
price of INR 13,46,986.01 per equity share by issuance and allotment of 62,85,30,012 (sixty two crores eighty
five lakhs thirty thousand and twelve) fully paid-up equity shares of the Company having face value of INR 1/-
(Indian Rupee One) each at a price of INR 70.76 per equity share which was the price determined in accordance
with chapter V of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements)
Regulations, 2018 (”SEBI ICDR Regulations”), for a consideration other than cash (for discharge of entire
purchase consideration) from the shareholders of BCPL. BCPL is a quick commerce online platform facilitating
quick delivery of goods and other essentials by connecting the end users, delivery personnel and sellers and
providing delivery services. The Company has acquired BCPL for expansion in the quick commerce business.
On August 10, 2022, Zomato Limited completed the above acquisition by issuing 62,85,30,012 fully paid-up
equity shares of Zomato Limited having face value of INR 1/- (Indian Rupee One) for 91.04% ownership interest.
The same was accounted using the share price of Zomato Limited as on the acquisition date of INR 55.45 per
equity share which amounted to INR 3,485 crores.
Total consideration of INR 3,828 crores includes INR 3,485 crores for which shares were issued as mentioned
above and INR 343 crores of fair value of existing ownership interest of 8.96% in BCPL as on date of acquisition.
Assets acquired and liabilities assumed

The fair values of the identifiable assets and liabilities of BCPL as at the date of acquisition were:
(INR crores)
Balances recognised
on acquisition
Assets
Property, plant and equipment 110
Capital work in progress 8
Right-of-use assets 167
Other financial assets 49
Non-current tax assets 14
Other non-current assets 136
Trade receivables 43
Cash and cash equivalents 339
Other bank balances 64
Other current assets 222
Total Assets (A) 1,152
218

CIN : L93030DL2010PLC198141
(INR crores)
Balances recognised
on acquisition
Liabilities
Borrowings 1,193
Lease liabilities 172
Other financial liabilities 21
Provisions 11
Trade payables 270
Other current liabilities 17
Total Liabilities (B) 1,684
Identifiable net assets at fair value (A-B) (532)

Fair value of intangible assets#
- Brand / Trademark 797
- Technology 225
- Vendor network 50
- Customer relationships 49
- Non-compete 45
Total 634
Purchase consideration
Equity shares issued (62,85,30,012 equity shares of INR 1 each) 63
Premium on issue of equity shares (62,85,30,012 equity shares at INR 54.45 each) 3,422
Issuance of ESOPs for unvested ESOPs of BCPL employees 20
Total purchase consideration 3,505
Calculation of goodwill
Purchase consideration 3,505
Fair value of existing ownership interest of 8.96% in BCPL as on date of acquisition. 343
DTL created on fair value of intangible assets 293
Less: identifiable net assets at fair value and fair value of intangible assets (634)
Goodwill arising on acquisition 3,507
#Useful lives are estimated to 1 year for customer relationships and 5 years for rest of the intangible assets.
The excess of the purchase consideration paid over the fair value of assets acquired has been attributed to
goodwill. The primary items that generated this goodwill are the value of the estimated synergies and entering
into quick commerce business neither of which qualify as an intangible asset. Goodwill is not tax-deductible.
219

CIN : L93030DL2010PLC198141
Changes in fair value carried at FVTOCI

(INR crores)
Particulars Amount
Fair value of existing ownership interest of 8.96% in BCPL as on date of acquisition. 343
Carrying value of existing ownership interest of 8.96% in BCPL as on date of acquisition. 438
Changes in fair value carried at FVTOCI (95)
Acquired receivables
(INR crores)
Particulars Amount
Fair value of acquired receivables 43
Gross contractual amount of receivables 43
Contractual cash flows not expected to be collected -
If the acquisition had taken place at the beginning of the year, revenue from continuing operations would have
been higher by INR 152 crores and the loss before tax from continuing operations for the Group from BCPL
would have been higher by INR 437 crores.
From the date of acquisition, BCPL has contributed INR 572 crores of revenue and INR 754 crores of loss to
the loss before tax from operations of the Group (before inter-company eliminations).
Analysis of cash flows on acquisition:

(INR crores)
Particulars Amount
Transaction costs of the acquisition of subsidiary 8
Net cash acquired with the subsidiary 339
Net cash flow on acquisition 347
31 (b) Acquisition of warehousing & ancillary services business of Hands on Trades

Private Limited
On August 10, 2022, Zomato Hyperpure Private Limited, material subsidiary of the Company has acquired
the warehousing and ancillary services business (“Warehousing division”) of Hands on Trades Private Limited
(“HOTPL”), for an aggregate consideration of INR 61 crores paid in cash. The Group has acquired warehousing
division for expansion in the quick commerce business. The purchase price of INR 61 crores is allocated to
net assets of INR 61 crores and hence no goodwill is recognised.
220

CIN : L93030DL2010PLC198141
Assets acquired and liabilities assumed

The fair values of the identifiable assets and liabilities of Warehousing division as at the date of acquisition were:
(INR crores)
Balances recognised
on acquisition
Assets
Property, plant and equipment 34
Capital work in progress 7
Inter company receivables 56
Loans and advances 15
Other current assets 14
Total Assets (A) 126
Liabilities
Trade payables 59
Provisions# 6
Total Liabilities (B) 65
Identifiable net assets at fair value (A-B) 61

Fair value of net assets 61
Calculation of goodwill
Purchase consideration 61
Less: fair value of net assets (61)
Goodwill -
#
includes INR 2.5 crores for share-based payment reserve.
Acquired receivables
(INR crores)
Particulars Amount
Fair value of acquired receivables 56
Gross contractual amount of receivables 56
Contractual cash flows not expected to be collected -
If the acquisition had taken place at the beginning of the year, revenue from continuing operations would
have been higher by INR 106 crores and the loss before tax from continuing operations for the Group from
Warehousing division would have been lower by INR 42 crores.
From the date of acquisition, Warehousing division has contributed INR 237 crores of revenue and INR 1 crore
of loss to the loss before tax from operations of the Group (before intra segment elimination).
Analysis of cash flows on acquisition:
(INR crores)
Particulars Amount
Transaction costs for the acquisition of warehousing division of HOTPL 0
Net cash acquired on the acquisition of warehousing division of HOTPL -
Net cash flow on acquisition 0
221

CIN : L93030DL2010PLC198141
32 Interest in Joint Venture Company (“JVC”)

The Group had a 49% interest in Zomato Media WLL, a joint venture involved in the general marketing services.
With effect from October 25, 2022, the Group has liquidated its joint venture between Qatar Aspect WLL and
Zomato Limited.
The Group’s interest in Zomato Media WLL is accounted for using the equity method in the consolidated
financial information. Summarised financial information of the joint venture, based on its consolidated
financial information and reconciliation with the carrying amount of the investment in consolidated financial
information are set out below:
Summarised balance sheet as at:
(INR crores)
March 31, 2024 March 31, 2023
Current liabilities - -
Equity - -
Proportion of the Group’s ownership - -
Group's share in equity - -
Carrying amount of investment as at March 31, 2024 and
- -
March 31, 2023
Summarised Statement of profit and loss:

(INR crores)
Particulars For the For the
March 31, 2024 March 31, 2023
Other income - -
Other expenses - 0
Net profit / (loss) - (0)
Proportion of the Group’s ownership - 49%
Group’s share of profit/ (loss) for the year - (0)
*For the period from April 01, 2022 to October 25, 2022
The Group had no contingent liabilities or capital commitments relating to its interest in Zomato Media WLL
as at March 31, 2023.
The carrying value of investment in the joint venture is Nil as the share of accumulated losses is higher than
the investment in joint venture, hence Group’s share of profit/ (loss) is not reported in consolidated financial
statements.
222
CIN : L93030DL2010PLC198141
33 Employee benefits obligation

a) The Group has a defined benefit gratuity plan. The gratuity plan of India is governed by the Payment of Gratuity Act, 1972 and the gratuity plan of
Middle East locations are governed by United Arab Emirates Labour Law. Under the Payment of Gratuity Act, 1972, employee who has completed
five years of service is entitled to specific benefit. The level of benefits provided depends on the member’s length of service and salary at
retirement age.
Changes in the defined benefit obligation during the year ended March 31, 2024: (INR crores)
Description April 01, Gratuity cost charged to consolidated Remeasurements of the Exchange Contribution Benefits Liability March 31,
2023 statement of profit and loss defined benefit plans difference on by employer paid acquired 2024
translations on account
Service Net Sub-total Remeasurement Subtotal of foreign of business
Company Overview
Cost interest (recognized of defined recognized operations combination

expense in statement benefit in OCI
of profit and obligation
loss, refer
note 25)
Defined benefit
60 20 6 26 (3) (3) 0 - (11) - 72
obligation
Benefit
60 20 6 26 (3) (3) 0 - (11) - 72
Statutory Reports
liability
Changes in the defined benefit obligation as at March 31, 2023: (INR crores)
Description April 01, Gratuity cost charged to consolidated Remeasurements of the Exchange Contribution Benefits Liability March 31,
2022 statement of profit and loss defined benefit plans difference on by employer paid acquired 2023
translations on account
Service Net Sub-total Remeasurement Subtotal of foreign of business
Cost interest (recognized of defined recognized operations combination
expense in statement benefit in OCI
of profit and obligation
loss, refer
note 25)
Defined benefit
45 16 4 20 (4) (4) 1 - (12) 10 60
obligation
Benefit
45 16 4 20 (4) (4) 1 - (12) 10 60
223
liability

CIN : L93030DL2010PLC198141
Due to its defined benefits plans, the Company is exposed to the following risks:
Changes in discount rate - A decrease in yield will increase plan liability and vice-versa.
Salary risk - An increase in the salary of the plan participants will increase the plan’s liability and vice-versa.
A quantitative sensitivity analysis for significant assumption is as shown below:
(INR crores)
Particulars Sensitivity As at As at
Level March 31, 2024 March 31, 2023
1% increase (3) (3)
Discount rate
1% decrease 3 4
1% increase 2 3
Future salary increase
1% decrease (2) (3)
10% increase (2) (2)
Attrition rates
10% decrease 2 2
The sensitivity analysis above have been determined based on a method that extrapolates the impact on
defined benefit obligation as a result of reasonable changes in key assumptions occurring at the end of
year.
The average remaining future service at the end of the reporting year is 14.73 - 29.22 years (March 31, 2023:
11.92 - 29.81 years).
The weighted average duration of defined benefit obligation, at the end of year is 2.39 - 7.35 years
(March 31, 2023: 3.62 - 17.21 years).
(INR crores)
Maturity analysis (the projection of gross payments) March 31, 2024 March 31, 2023
Less than one year 12 8
Year 1-2 11 9
Year 2-5 31 23
Over 5 year 42 54
(INR crores)
Remeasurement of defined benefit obligation recognized As at As at
in OCI March 31, 2024 March 31, 2023
Actuarial (gain) due to changes in demographic assumptions (5) -

Actuarial loss / (gain) due to changes in financial 1 (1)
assumptions
Actuarial loss / (gain) due to experience adjustments 1 (3)
(3) (4)
224

CIN : L93030DL2010PLC198141
b) Defined contribution plan

During the year, the Group has recognised the following amounts in the consolidated statement of profit
and loss:
(INR crores)
Particulars March 31, 2024 March 31, 2023
Employee contribution to Employee State Insurance 1 1
Employee contribution to provident fund and other funds 27 14
c) Compensated absence : The amount of the provision INR 45 crores (March 31, 2023: INR 60 crores)
A quantitative sensitivity analysis for significant assumption as at March 31, 2024 & March 31, 2023 are as
shown below:
(INR crores)
Particulars Sensitivity Level As at As at
March 31, 2024 March 31, 2023
1% increase (1) (3)
Discount rate
1% decrease 2 3
1% increase 1 3
1% decrease (1) (3)
Attrition rates
10% decrease 1 2
d) The principal assumptions used in determining gratuity obligations for the Group’s plan is shown below:
India UAE India UAE
Discount rate 6.9% - 7.3% 3.6% - 4.3% 7.2% - 7.4% 3.6%
Future salary increases #
13% - 15% 13% 13% - 15% 13%
Retirement age (years) 58 58 58-60 58
Mortality rates inclusive of provision for IAL2012-14Ult NLTUK2015-17 IAL2012-14Ult NLTUK2015-17
disability
Employee turnover (age)
Up to 30 Years 20%-30% 30% 20%-30% * 30%
Above 30 Years 25% 25% 25% 25%
# For the year ended March 31, 2024 future salary increases for Blink Commerce Private Limited (formerly known as Grofers India
Private Limited) is 15% ( March 31, 2023 : 15%).
* For the year ended March 31, 2024 employee turnover (age) in Zomato Hyperpure Private Limited : 30% (March 31, 2023 : 8%).
225

CIN : L93030DL2010PLC198141
34 Share-based payments
General Employee Share-option Plan (GESP):
The Foodie Bay Employee Stock Option Plan 2014 (“ESOP 2014”) was approved by the shareholders of the
Company on June 27, 2014 (last amendment was done by the Board of directors on February 10, 2022) for
granting aggregate 27,089 Employees stock options (“ESOPs/Option(s)”) of the Company. The Company
further increased number of Options by 5,364 under the ESOP 2014 at the extraordinary general meeting
of shareholders held on September 07, 2015 and 9,313 Options under the ESOP scheme at the extra
ordinary general meeting of shareholders held on March 04, 2016. The ESOP 2014 covers grant of Options
to the specified employees covered under ESOP 2014. Further, bonus issuance in the ratio 1:6699 to equity
shareholders was approved by the shareholders at their meeting held on April 05, 2021. Accordingly,
the number of shares that can be issued under the ESOP 2014 increased from 41,766 to 27,98,32,200.
The Zomato Employee Stock Option Plan 2018 (“ESOP 2018”) was approved by the shareholders of the
Company on October 22, 2018 (last amendment was done by the Board of directors on February 10, 2022)
for granting aggregate 30,150 Employees stock options (“ESOPs/Option(s)”) which were reduced to 18,135
Options vide Extraordinary General Meeting held on September 04, 2020. The ESOP 2018 covers grant of
Options to the specified employees covered under ESOP 2018. Further, bonus issuance in the ratio 1:6699 to
equity shareholders was approved by the shareholders at their meeting held on April 05, 2021. Accordingly,
the number of shares that can be issued under the ESOP 2018 increased from 18,135 to 12,15,04,500.
Zomato Employee Stock Option Plan 2021 (“ESOP 2021”) was approved by the shareholders of the Company on
April 05, 2021 (last amendment was done by the Board of directors on February 10, 2022) for grant aggregating
50,25,00,000 Employees stock option (“ESOPs/Option(s)”) of the Company. The ESOP 2021 covers grant of
Options to the specified employees covered under ESOP 2021.
Zomato Employee Stock Option Plan 2022 (“ESOP 2022”) was approved by the shareholders of the Company
through postal ballot on July 25, 2022, for grant aggregating 3,36,55,902 Employees stock option (“ESOPs/
Option(s)”) of the Company. The ESOP 2022 covers grant of Options to the specified employees covered under
ESOP 2022.
Movements during the year

The following table illustrates the number and weighted average exercise prices (WAEP) of and movements
in, share options during the year:
Particulars Year ended Year ended
March 31, 2024 March 31, 2023
Number WAEP (INR) Number WAEP (INR)
ESOP 2014
Outstanding at April 01 21,750 11,185 28,457 14,293
Granted during the year 5,642 1 2,195 1
Exercised during the year 7,464 14,033 5,889 13,286
Forfeited/expired during the year 1,686 120 3,013 84
Outstanding at the end of the year 18,242 12,237 21,750 11,185
Exercisable at the end of the year 10,747 38,558 14,678 27,885
226

CIN : L93030DL2010PLC198141

March 31, 2024 March 31, 2023
ESOP 2018
Outstanding at April 01 11,523 1 11,035 1
Gra nted during the year 676 1 3,250 1
Exercised during the year 4,856 1 1,921 1
Forfeited/expired during the year 592 1 841 1
Outstanding at the end of the year 6,751 1 11,523 1
Exercisable at the end of the year 5,782 1 6,689 1

March 31, 2024 March 31, 2023
ESOP 2021
Outstanding at April 01 33,01,70,124 1 36,85,25,258 1
Granted during the year 4,11,30,223 1 23,50,793 1
Exercised during the year 22,86,79,200 1 4,02,03,082 1
Forfeited/expired during the year 23,06,192 1 5,02,845 1
Outstanding at the end of the year 14,03,14,955 1 33,01,70,124 1
Exercisable at the end of the year 6,70,790 1 19,43,17,670 1

March 31, 2024 March 31, 2023
ESOP 2022
Outstanding at April 01 2,11,48,941 1 - -
Granted during the year 1,40,16,384 1 2,49,35,907 1
Exercised during the year 50,86,374 1 - -
Exercisable at the end of the year 30,73,139 1 - -
Total expense arising from share based payment transaction for the year is INR 515 crores (March 31, 2023:
INR 506 crores) has been charged to statement of profit and loss.
The weighted average remaining contractual life for the share options outstanding was 7.16 years (March 31,
2023 : 7.27 years)
The weighted average fair value of options granted during the year was INR 96 (March 31, 2023 :INR 54)
For ESOP 2014, the range of exercise prices for options outstanding at the end of the year was INR 1 to
INR 2,50,000 (March 31, 2023 : INR 1 to 2,50,000)
For ESOP 2018, 2021 and 2022, the range of exercise prices for options outstanding at the end of the year was
INR 1 (March 31, 2023 : INR 1)
227

CIN : L93030DL2010PLC198141
The following tables list the inputs to the models used for the GESP plans for the year ended March 31, 2024
and March 31, 2023 (model used: Black Scholes valuation model)
Year ended Year ended

March 31, 2024 March 31, 2023
GESP GESP
Dividend yield (%) 0.00% 0.00%
Expected volatility (%) 54.78%-61.08% 53.67%-55.71%
Risk–free interest rate (%) 6.75%-6.95% 6.28%-6.77%
Expected life of share options 6-9 years 6-9 years
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 also not necessarily be the actual outcome.
There are no market performance conditions existing as at March 31, 2024 and March 31, 2023.
35 Right-of-use asset and leases
Set out below are the carrying amounts of right-of-use assets recognised and the movements during the year:
Particulars Building
As at April 01, 2022 64
Asset acquired on acquisition 167
Additions 337
Deletions (48)
Depreciation expense (93)
As at March 31, 2023 427
Additions 459
Deletions (37)
As at March 31, 2024 690
Set out below are the carrying amounts of lease liabilities and the movements during the year:
As at April 01, 2022 70
Liability acquired on acquisition 172
Additions 320
Deletions (53)
Accretion of interest 41
Payments (84)
As at March 31, 2023 466
Additions 447
Deletions (46)
Payments (185)
As at March 31, 2024 749
228

CIN : L93030DL2010PLC198141
The following is the break-up of current and non-current lease liabilities:

(INR crores)
As at As at
Current lease liabilities 161 115
Non-current lease liabilities 588 351
The following are the amounts recognised in statement of profit and loss:
(INR crores)
March 31, 2024 March 31, 2023
Depreciation expense of right-of-use assets 159 93
Total 216 126
The table below provides details regarding the contractual maturities of lease liabilities on an undiscounted
basis:
(INR crores)
March 31, 2024 March 31, 2023
One to five years 659 408
More than five years 62 21
The Group does not face a liquidity risk with regard to its lease liabilities as the current assets are sufficient
to meet the obligations related to lease liabilities as and when they fall due.
The weighted average incremental borrowing rate applied to lease liabilities is 11% (for Blink Commerce Private
Limited, till September 2023, the weighted average borrowing rate to lease liabilities is 15%.).
Rental expense recorded for short-term leases are INR 33 crores (March 31, 2023: INR 28 crores) and for low
value assets are INR 11 crores (March 31, 2023: INR 14 crores).The aggregate depreciation on right-of-use
assets has been included under depreciation and amortisation expense in the consolidated statement of
profit and loss.
229

CIN : L93030DL2010PLC198141
36 Fair value of financial instruments assets and liabilities

(a) Financial instrument by category
The carrying value and fair value of financial instruments by categories as at March 31, 2024 are as
follows:
(INR crores)
Particulars Amortised Fair value Fair value Total
cost through profit through other carrying
or loss comprehensive value
income
Assets:
Cash and cash equivalents (refer note 8) 309 - - 309
Bank balances other than cash and cash
422 - - 422
equivalents (refer note 9)
Investments (current ) (refer note 6)
-Mutual funds - 1,167 - 1,167
-Government securities 65 - - 65
- Debentures or bonds - - 48 48
Investment (non-current) (refer note 5) (other
than in subsidiary)
- Equity instruments* - - 2,223 2,223
- Government securities - - 2,467 2,467
- Debentures or bonds - - 5,675 5,675
Trade receivables (refer note 7) 794 - - 794
Loans (refer note 10) - - - -
Other financial assets (refer note 11) 3,071 - - 3,071
Total 4,661 1,167 10,413 16,241
Liabilities:
Trade payables (refer note 17) 886 - - 886
Borrowings (refer note 16) - - - -
Lease liabilities (refer note 35) 749 - - 749
Other financial liabilities (refer note 18) 647 - - 647
Total 2,282 - - 2,282
The carrying value and fair value of financial instruments by categories as at March 31, 2023 were
as follows:
(INR crores)
income
Assets:
Bank balances other than cash and cash
799 - - 799
equivalents (refer note 9)
Investments (current) (refer note 6)
- Mutual funds - 3,537 - 3,537
-Government securities 948 - - 948
230

CIN : L93030DL2010PLC198141
(INR crores)
income
Investment (non-current) (refer note 5) (other than
in subsidiary)
- Government securities 67 - - 67
Loans (refer note 10) 0 - - 0
Total 8,801 3,537 2,213 14,551
Liabilities:
Borrowings (refer note 16) 41 - - 41
Total 1,501 - - 1,501
* The equity securities are not held for trading and the Group has made an irrevocable election at initial recognition to recognise
changes in fair value through OCI rather than profit or loss as these are strategic investments and the Group considered this to be
more relevant.
(b) Fair value hierarchy

The Company uses the following hierarchy for determining and disclosing the fair value of financial instruments by
valuation technique using:
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 assets or liabilities that are not based on observable market data (unobservable inputs).
he following table presents fair value hierarchy of assets and liabilities measured at fair value on a recurring
T
basis as at March 31, 2024:
(INR crores)
Carrying Value Fair value measurement at end of
Particulars the reporting year using
Assets Level 1 Level 2 Level 3
Assets
Investments
- Mutual funds 1,167 1,167 - -
- Debentures or bonds 5,723 - 5,723 -
- Government securities 2,467 - 2,467 -
- Equity instruments 2,223 - - 2,223
231

CIN : L93030DL2010PLC198141
The following table presents fair value hierarchy of assets and liabilities measured at fair value on a
recurring basis as at March 31, 2023:
(INR crores)
Particulars the reporting period using
Assets
Investments
- Mutual funds 3,537 3,537 - -
- Debentures or bonds 50 - 50 -
There were no transfers between Level 1 and Level 2 fair value measurements during the year ended
March 31, 2024 and March 31, 2023.
Fair value hierarchy of assets and liabilities measured at amortised cost:
(INR crores)
Particulars the reporting year using
At March 31, 2024

Financial assets
- Government securities 65 - 65 -
At March 31, 2023

Financial assets
Investment (non-current) (refer note 5) (other
than in subsidiary)
The following methods / assumptions were used to estimate the fair values:
i) The carrying value of cash and cash equivalents, other bank balances, trade receivables, loans, other
financial assets, short term borrowings, trade payables and other financial liabilities approximate their
fair value mainly due to the short-term maturities of these instruments.
ii) Fair value of quoted mutual funds is based on the last available Net assets value (“NAV”) as at the
reporting date.
iii) The fair values of the unquoted investments in Equity instruments have been estimated using one or
more of the valuation techniques such as discounted cash flow method (“DCF”), comparable companies
multiples method (“CCM”), comparable companies transactions multiples method (“CTM”) and net asset
value (“NAV”) method.
232

CIN : L93030DL2010PLC198141
iv) The investments in Government securities and debentures or bonds are valued by referring to market
inputs including quotes, trades, poll, primary issuances for securities and /or underlying securities
issued by the same or similar issuer for similar maturities and movement in benchmark security, etc.
v) The fair value of non-current other financial assets, long term borrowings and non-current other
financial liabilities is estimated by discounting future cash flows using current rates applicable to
instruments with similar terms, currency, credit risk and remaining maturities.
Significant unobservable inputs used in Level 3 fair value along with its sensitivity:
For the year ended March 31, 2024

Financial assets Valuation technique Significant unobservable
inputs
Investment in Equity instruments Discounted Cash Flow method Weighted Average Cost
(“DCF”), Comparable Companies of Capital (“WACC”),
Multiples method (“CCM”), Comparable Terminal growth rate,
Companies Transactions Multiples Revenue multiple
method (“CTM”)
Sensitivity analysis for the year ended March 31, 2024 is shown below:
Financial assets Significant unobservable % change significant Fair value
inputs unobservable change
inputs
Investment in Equity instruments Weighted average cost of (+) 5 (42)
capital (“WACC”) (-) 5 51
(Ranging from 15% to 55%)
Terminal Growth Rate (5%) (+) 5 4
(-) 5 (5)
Revenue multiple (+) 5 22
(Ranging from 1.4x to 6.5x) (-) 5 (22)

Financial assets Valuation technique Significant unobservable
inputs
Investment in Equity instruments Discounted Cash Flow method Weighted Average Cost of
(“DCF”), Comparable Companies Capital (“WACC”), Terminal
Multiples method (“CCM”), Comparable growth rate, Revenue
Companies Transactions Multiples multiple
method (“CTM”)
233

CIN : L93030DL2010PLC198141
Financial assets Significant unobservable % change Fair value
inputs significant change
unobservable inputs
(-) 5 (5)
Reconciliation of level 3 fair value measurements of financial assets is as follows:

(INR crores)
March 31, 2024 March 31, 2023
Deletions during the year - (518)
Transfer to retained earnings - change in fair value of BCPL investment
- 175
on acquisition date
Gain / (loss) recognised in other comprehensive income during the year 60 (111)
Balance at the end of the year 2,223 2,163
(c) Financial risk management

Financial risk factors
The Group’s activities exposes it to a variety of financial risks namely market risk, credit risk and liquidity risk.
The Group’s primary focus is to foresee the unpredictability of financial markets and seek to minimise potential
adverse effects on its financial performance.
Risk management is carried out by senior management for cash and cash equivalent, trade receivable,
investments, deposits with banks, foreign currency risk exposure and liquidity risk.
Market risk
Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of
changes in market prices. Market risk comprises three types of risk: interest rate risk, foreign currency risk
and other price risk, such as equity price risk and commodity risk. The Group ensures optimisation of cash
through fund planning and robust cash management practices.
i) Interest rate risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument
will fluctuate because of changes in market interest rates. The Group’s investments are
predominantly held in government securities, debenture or bonds, bank deposits and mutual funds.
234

CIN : L93030DL2010PLC198141
Investment in bank deposits and certain government securities are measured at amortised cost and
are fixed interest rate bearing instruments and hence not subject to interest rate volatility. The Group
also invests in mutual fund schemes of leading fund houses, such investments are susceptible to market
interest risks which may impact the return and value of such investments. However, given the relatively
short tenure of underlying portfolio of the mutual fund schemes in which the Group has invested, such
risk is not significant. Investments in debenture or bonds and certain government securities are subject to
interest rate risk which are fair valued through other comprehensive income to recognise market volatility.
Sensitivity analysis
The following table demonstrate the sensitivity to a reasonably possible change in interest rates:
(INR crores)
Financial asset Exposure % change in Change in fair value Change in fair value
input during the year ended during the year ended
March 31, 2024 March 31, 2023
Debenture or bonds 5,723 (+)1 (169) (1)
Government securities 2,467 (+)1 (102) -
A reduction in interest rates would have an equal and opposite effect on the Group’s financial statements.
ii) Foreign currency risk

Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because
of changes in foreign exchange rates. The Group’s exposure to foreign currencies is negligible, with the
exception of the AED, where the net exposure amounts to INR 1 crore (March 31, 2023: INR 2 crores). The
Group keeps a regular track of all the changes in foreign currency rates to monitor and manage this foreign
currency risk.
Credit risk
Credit risk refers to the risk of default on its obligation by the counterparty resulting in a financial loss. The
maximum exposure to the credit risk at the reporting date is primarily from trade receivables amounting to
INR 815 crores (March 31, 2022: INR 474 crores). Trade receivables are typically unsecured and are derived
from revenue earned from customers primarily located in India and Middle East. Credit risk has always been
managed by the Group through credit approvals, establishing credit limits and continuously monitoring the
creditworthiness of customers to which the Group grants credit terms in the normal course of business. On
account of adoption of Ind AS 109, the Group uses expected credit loss model to assess the impairment loss or
gain. The Group uses a provision matrix to compute the expected credit loss allowance for trade receivables.
The provision matrix takes into account available external and internal credit risk factors such as the Group’s
historical experience for customers and adjusted for forward-looking information.
he Group has established an allowance for impairment that represents its expected credit losses in respect
T
of trade and other receivables. The management uses a simplified approach for the purpose of computation
of expected credit loss for trade receivables and 12 months expected credit loss for other receivables, further
an impairment analysis is performed at each reporting date on an individual basis for major parties.
utstanding customer receivables are regularly and closely monitored. Basis historical trend, the Group
O
provides for any outstanding beyond 180 days. The trade receivables on the respective reporting dates are
net off the allowance which is sufficient to cover the entire lifetime loss of sales recognised including those
that are currently less than 180 days outstanding. The Group further assesses impairment of major parties
and provide for any outstanding before 180 days if they are credit impaired.
235

CIN : L93030DL2010PLC198141
he Group has made investments in government securities which carries sovereign rating and debenture or
T
bonds which are rated AAA; which do not have a default history.
he Group’s treasury maintains its cash and cash equivalents and deposits – with banks, financial and other
T
institutions, having a good reputation and past track record which are considered to carry a low credit risk.
Similarly, counterparties of the Company’s other receivables carry either negligible or very low credit risk.
Further, the Company reviews the creditworthiness of the counter-parties on the basis of its ratings and
financial strength for all the above assets on an ongoing basis and if required, takes necessary mitigation
measures.
he Group has established an allowance for impairment that represents its expected credit losses in respect
T
of investments in debt instruments. The management uses a 12 months expected credit loss approach after
taking into account the time value of money and other reasonable information available as a result of past
events, current conditions and forecasts of future economic conditions.
For trade receivable ageing, refer note 44.
Liquidity risk
Liquidity risk is defined as the risk that the Group will not be able to settle or meet its obligations on time. The
Group has established an appropriate liquidity risk management framework for the management of the Group’s
short, medium and long-term funding and liquidity requirements.
he Group’s principal sources of liquidity are cash and cash equivalents. The Group manages liquidity risk
T
by maintaining adequate cash reserves, by continuously monitoring forecast and actual cash flows and by
matching the maturity profiles of financial assets and liabilities. Accordingly, no liquidity risk is perceived.
The table below provides details regarding the contractual maturities of financial liabilities as at
March 31, 2024:
(INR crores)
Particulars Less than More than
1-5 years Total
1 year 5 years
Trade payables 886 - - 886
Lease liabilities (undiscounted value)
235 659 62 956
(refer note 35)
Borrowings - - - -
236

CIN : L93030DL2010PLC198141
March 31, 2023:
(INR crores)
Particulars Less than More than
1-5 years Total
1 year 5 years
Lease liabilities (undiscounted value)
160 408 21 589
(refer note 35)
Borrowings 35 6 - 41
Other financial liabilities 310 5 - 315
Capital management
For the purpose of the Group’s capital management, capital includes issued equity capital, share premium
and all other equity reserves attributable to the equity shareholders of the parent. The primary objective of
the Group’s capital management is to maximise the shareholder value. As at March 31, 2024 the Group has no
debt, therefore, there are no externally imposed capital requirements.
37 Related party disclosures

Names of related parties and related party relationship
Related parties under Ind AS 24
Trust under control of the Foodie Bay Employees ESOP Trust

Company Myfri Benefit Trust (till June 09, 2022)
Joint venture Zomato Media WLL (closed w.e.f. October 25, 2022)
Associate of subsidiary ZMT Europe LDA (till November 03, 2023 )
Key management personnel Deepinder Goyal (Managing Director and Chief Executive Officer)
(“KMP”) Kaushik Dutta (Chairman and Independent Director)
Namita Gupta (Independent Director)
Douglas Lehman Feagin (Nominee director) (resigned as nominee director
w.e.f. February 09, 2023)
Sanjeev Bikhchandani (Nominee Director)
Gunjan Tilak Raj Soni (Independent Director)
Aparna Popat Ved (Independent Director)
Sutapa Banerjee (Independent Director)
Akshant Goyal (Chief Financial Officer)
Sandhya Sethia (Company Secretary)
Other related party Entity Airveda Technologies Private Limited

controlled by KMP
237
CIN : L93030DL2010PLC198141
37 Related party disclosures (Contd.)

(INR crores)
Nature of Transactions Key Management Personnel Joint Venture Associate of subsidiary Other related parties Total
March 31, 2024 March 31, 2023 March 31, 2024 March 31, 2023 March 31, 2024 March 31, 2023 March 31, 2024 March 31, 2023 March 31, 2024 March 31, 2023
Remuneration to KMP
Salaries and other employee benefits (1) (2) 170 376 - - - - - - 170 376
Directors remuneration and sitting fees (3) 2 2 - - - - - - 2 2
Reimbursement of expenses (KMP) - 0 - - - - - - - 0
(1)
Remuneration to the key managerial personnel does not include the provisions made for gratuity and leave encashment, as they are determined on an actuarial basis for the Company as a whole.
(2)
Includes a charge of INR 169 crores (March 31, 2023 : INR 375 crores) towards share based payment expense. -
Company Overview
(3)
At year end March 31, 2024, remuneration and sitting fees payable to Directors is INR 0 crore ( March 31, 2023: INR 1 crore)
Investment written off / disposal in

Joint Venture & Associate
Zomato Media WLL - - - 0 - - - - - 0
ZMT Europe, LDA - - - - 0 - - - 0 -
Provision reversed on disposal/written

Statutory Reports
off investments
Zomato Media WLL - - - (0) - - - - - (0)
Expense charged on Company by

Airveda Technologies Private Limited
- Procurement of AQI Monitoring
- - - - - - 0 0 0 0
devices
Sutapa Banerjee
- Professional services 0 - - - - - - - 0 -
Loan given to associate during the year

ZMT Europe, LDA - - - - - 0 - - - 0
Interest on loan
ZMT Europe, LDA - - - - 0 0 - - 0 0
238
CIN : L93030DL2010PLC198141

(INR crores)
Nature of Transactions Key Management Personnel Joint Venture Associate of subsidiary Other related parties Total
March 31, 2024 March 31, 2023 March 31, 2024 March 31, 2023 March 31, 2024 March 31, 2023 March 31, 2024 March 31, 2023 March 31, 2024 March 31, 2023
Repayment of loan given to associate

during the year
ZMT Europe, LDA - - - - 0 - - - 0 -
Other balances receivable/payable at

Company Overview
the end of the period:

Loans and advances
ZMT Europe, LDA - - - - - 0 - - - 0
Interest accrued on loan

ZMT Europe, LDA - - - - - 0 - - - 0
Statutory Reports
Trade Payable
Sutapa Banerjee 0 - - - - - - - 0 -
239

CIN : L93030DL2010PLC198141
38 Income Tax
(a) Major components of tax expense/(income):
(INR crores)
March 31, 2024 March 31, 2023
(i) Current income tax:

Current tax expense 1 0
Adjustment for current tax of prior period - -
(ii) Deferred Tax:
Tax expense on origination / reversal of temporary
(61) (44)
differences
Income tax expense reported in the Statement of profit and
(60) (44)
loss
(b) Components of deferred tax assets / (liabilities) recognised in the Balance Sheet:
(INR crores)
Particulars For the year ended Amount For the year ended
March 31, 2023 recognised in March 31, 2024
profit and loss
(Gain)/loss
(i) Deferred tax liability relating to
temporary differences on business (249) (61) (188)
combination
(ii) Deferred tax assets - -
Deferred Tax assets/ (liabilities) (249) (61) (188)
(c) Reconciliation of accounting profit and tax expense:

(INR crores)
March 31, 2024 March 31, 2023
Profit before income tax 291 (1,015)

India's statutory income tax rate 25.168% 25.168%
Expected income tax expense 73 (255)
Other not deductible items 2 (102)
Other temporary differences, business losses and unabsorbed
183 329
depriciation on which deferred tax not created
Set off against brought forward losses and unabsorbed
(318) (16)
depreciation
Income tax expense reported in Statement of Profit and Loss (60) (44)
240

CIN : L93030DL2010PLC198141
(c) Deductible temporary differences for which no deferred tax asset is recognised in the
Balance Sheet:
As at the year ended on March 31, 2024 and March 31, 2023, the Group is having deductible temporary
differences, brought forward losses and unabsorbed depreciation under the tax laws. However in the absence
of reasonable certainty of realization, deferred tax assets have not been created. The unused tax losses expire
upto 8 years.
(INR crores)
Particulars Expiry Date For the year ended For the year ended
March 31, 2024 March 31, 2023
Deferred tax assets / (liabilities) arising

on account of:
Business loss 31-Mar-26 - 58
Business loss 31-Mar-27 20 467
Business loss 31-Mar-28 1,936 1,988
Business loss 31-Mar-29 707 707
Business loss 31-Mar-32 733 -
Long term capital loss 31-Mar-29 4 4
Long term capital loss 31-Mar-31 0 0
Long term capital loss 31-Mar-32 250 -
Unabsorbed depreciation No expiry period 310 961
Other temporary differences No expiry period (377) (321)
Total 6,150 6,402
39 Segment information:
Operating segments are defined as components of an enterprise for which discrete financial information is
available that is evaluated regularly by the chief operating decision maker (”CODM”), in deciding how to allocate
resources and assessing performance. The Group’s chief operating decision maker is the Managing Director
and Chief Executive Officer of the Company.
The Group’s reporting segments till June 30, 2023 were as follows:
1. India food ordering and delivery
2. Hyperpure supplies (B2B business)
3. Quick commerce
241

CIN : L93030DL2010PLC198141
Owing to changes in the information provided to the CODM, with effect from July 01, 2023, the Group has
identified “Going out” as a new operating and reportable segment, which was earlier presented as a part of
“All other segments”. Thus, the segments for the Group are now as follows:
1. India food ordering and delivery
2. Hyperpure supplies (B2B business)
3. Quick commerce
4. Going out
India food ordering and delivery comprises of online marketplace platform through which the Group facilitates
listing and online ordering of food items and delivery of these food items by connecting end users, restaurant
partners and independent delivery partner.
Hyperpure is our farm-to-fork supplies offering for restaurants in India and sale of items to businesses for
onward sales.
Quick commerce comprises of online marketplace platform (“Marketplace”) which enables listing of items
sold on the Marketplace by the sellers. End users are able to place orders of these listed items on the mobile
application which are delivered to their doorsteps within minutes. Quick commerce also includes warehousing
and ancillary services provided to the sellers on the Marketplace.
Going-out is a combination of our Dining-out and Zomato Live business verticals; Customers / end users use
our dining-out offering to search and discover restaurants, reserve tables, avail offers and make payments
while dining-out at restaurants. In our Zomato Live offering, customers can discover and book tickets through
our platform for various kinds of entertainment events including our Zomaland event.
The Group has combined and disclosed balancing number in all other segments which are not reportable.
Revenue and expenses directly attributable to segments are reported under each reportable segment.
Expenses which are not directly identifiable to any reporting segment have been allocated to respective
segments based on the number of orders, number of employees or gross market value as reviewed
by CODM.
Summarised segment information for the year ended March 31, 2024 and March 31, 2023 are as
follows:
(INR crores)
Revenue from operations (external customers)
India food ordering and delivery 6,361 4,533
Hyperpure supplies (B2B business) 3,172 1,506
Quick Commerce business 2,301 806
Going Out 258 171
All other segments (Residual) 22 63
Total 12,114 7,079
242

CIN : L93030DL2010PLC198141
(INR crores)
Revenue from operations (inter-segment)

India food ordering and delivery 19 4
Hyperpure supplies (B2B business) 0 1
Quick Commerce business 8 3
Going Out 0 8
All other segments (Residual) 23 12
Total 50 28
Segment Results
India food ordering and delivery 935 (5)
Hyperpure supplies (B2B business) (100) (181)
Quick Commerce business (253) (503)
Going Out (2) (12)
All other segments (Residual) (23) (4)
Segment Results 557 (705)
Add: other income 847 682
Less: share based payment expense 515 506
Less: finance costs 72 49
Less: depreciation and amortization expense 526 437
Add: exceptional items - 0
Profit / (loss) 291 (1,015)
Information about major customers: No single customer represents 10% or more of the Group’s total revenue
for the year ended March 31, 2024 and March 31, 2023 respectively.
The Company has revenues primarily from customers domiciled in India and substantially all of the Company’s
non-current assets (other than financial instruments) are domiciled in India.
243

CIN : L93030DL2010PLC198141
40 The consolidated financial information of the Group includes subsidiaries

(including step down subsidiaries) and an associate listed in the table below:
% Equity interest
Sr. Name of the Relationship Principal activities Country of March 31, 2024 March 31, 2023
No. Company incorporation
1 PT. Zomato Media Subsidiary Operating internet Indonesia 0% 100%

Indonesia (closed portal
w.e.f. March 21, 2024)
2 Zomato NZ Media Subsidiary Operating internet New Zealand 0% 100%
Private Limited (till portal
June 22, 2023)
3 Zomato Media Subsidiary Operating internet Sri Lanka 100% 100%
(Private) Limited portal
4 Zomato Media Subsidiary Operating internet Portugal 0% 100%
Portugal, Unipessoal, portal
Lda (till July 27, 2023)
5 Zomato Chile Spa (till Subsidiary Operating internet Chile 0% 100%
September 29, 2023) portal
6 Zomato Middle East Subsidiary Operating internet Dubai 100% 100%
Fz - LLC portal
7 Zomato Ireland Subsidiary Operating internet Ireland 100% 100%
Limited portal
8 Zomato Hyperpure Subsidiary Operating internet India 100% 100%
Private Limited portal
("ZHPL")
9 Carthero Technologies Subsidiary Delivery services India 100% 100%
Pvt. Ltd
10 TongueStun Food Subsidiary Operating internet India 100% 100%
Network Private portal
Limited
11 Zomato Subsidiary Event organising India 100% 100%
Entertainment Private services
Limited
12 Zomato Local Subsidiary Operating internet India 100% 100%
Services Private portal
Limited
13 Zomato Foods Private Subsidiary Trading business India 100% 100%
Limited
244

CIN : L93030DL2010PLC198141
% Equity interest
14 Zomato Payments Subsidiary Payment aggregator India 100% 100%

Private Limited services and
payment gateway
services
15 Zomato Financial Subsidiary Financing and India 100% 100%
Services Limited Investment
activities
16 Blink Commerce Subsidiary Quick commerce India 100% 100%
Private Limited
(formerly known as
Grofers India Private
Limited) ("BCPL")
(w.e.f. August 10,
2022)
17 Zomato Malaysia SDN. Step Down Operating internet Malaysia 100% 100%
BHD. Subsidiary portal
18 Zomato Slovakia s.r.o. Step Down Operating internet Slovakia 100% 100%
Subsidiary portal
19 Lunchtime.Cz s.r.o. Step Down Operating internet Czech Republic 0% 100%
(closed w.e.f. February Subsidiary portal
06, 2024)
20 Gastronauci Sp.Z.O.O. Step Down Operating internet Poland 100% 100%
Subsidiary portal
21 Zomato Australia Pty Step Down Operating internet Australia 0% 100%
Limited (till June 11, Subsidiary portal
2023)
22 Zomato Netherlands Step Down Operating internet Netherlands 100% 100%
B.V. Subsidiary portal
23 Zomato Inc. Step Down Operating internet USA 100% 100%
Subsidiary portal
24 Zomato Ireland Step Down Operating internet Jordan 0% 0%
Limited - Jordan Subsidiary portal
(closed w.e.f. March
12, 2023)
25 Zomato Vietnam Step Down Operating internet Vietnam 0% 100%
Company Limited Subsidiary portal
(closed w.e.f February
02,2024)
245

CIN : L93030DL2010PLC198141
% Equity interest
26 Zomato Philippines Step Down Operating internet Philippines 100% 100%

Inc. Subsidiary portal
27 Zomato Internet Step Down Operating internet Turkey 100% 100%
Hizmetleri Ticaret Subsidiary portal
Anonim Sirketi
28 Zomato Internet LLC Step Down Operating internet Qatar 100% 100%
Subsidiary portal
29 Delivery21 Inc. Step Down Operating internet Philippines 52% 52%
Subsidiary portal
30 ZMT Europe LDA (till Associate Operating internet Portugal 0% 30%
November 03, 2023) portal
41 Capital and other commitments:

(a) The Group has commitments for purchase/sale orders which are issued after considering requirements
per operating cycle for purchase/sale of goods and services, employee benefits. The Group does not have
any long term commitment or material non-cancellable contractual commitments/contracts which might
have a material impact on the financial statements.
(b) The Group has estimated amount of contract remaining to be executed on capital account not provided
for, net of advances as at March 31, 2024 is INR 79 crores (March 31, 2023: INR 20 crores).
(c) The Group has made long term strategic investments in certain subsidiary companies, which are in their
initial/developing stage of operation and would generate growth and returns over a period of time. These
subsidiaries/associates have incurred significant expenses for building the brand and market share which
have added to the losses of these entities. The parent has committed to provide support to each of its
subsidiaries in the event they are unable to meet their individual liabilities.
42 Contingent Liability not provided for:

Claims against the Group not acknowledged as debts:
(a) In December 2023, the Company received Show Cause Notices (SCNs) from the GST authorities requiring
the Company to show cause why a tax liability of INR 420 crores along with the interest and penalty for
the period from October 29, 2019 to March 31, 2022 should not be demanded and recovered. The alleged
amount is calculated on the delivery charges collected by the Company from the end user on behalf of the
delivery partners. The Company, supported by the external independent expert’s advice, is of the view that
it has a strong case on merits.
(b) The Group has certain pending litigations pertains to consumer cases and other legal cases amounting to
INR 10 crores (March 31, 2023: INR 9 crores).
246

CIN : L93030DL2010PLC198141
(c) During the year ended March 31, 2022, the Company was served with a copy of a writ petition filed by the
Indian Federation of APP-Based Transport Workers (IFAT) and two others, which is in the nature of a public
interest litigation before the Hon’ ble Supreme Court of India. The writ petition has been filed against 5
ministries of the Union of India (i.e. Ministry of Labour and Employment, Ministry of commerce and Industry,
Ministry of Consumer Affairs, food and public distribution, Ministry of Road Transport and Highways,
Ministry of Electronic and Information Technology) and aggregators such as ANI Technologies Pvt Ltd (Ola),
Uber India Systems Pvt. Ltd. (Uber) and Bundl Technologies Pvt. Ltd. (Swiggy) and Zomato Limited have
been made a party to the writ petition. The petitioners have sought several alternative reliefs, including
a declaration to recognise app based/ gig workers as ‘workers’ under various labour/social legislations;
directions to the Government of India for promulgating schemes extending social security benefits to gig/
app based workers which schemes are yet to be formulated. At this stage, there is no specific obligation
that can be ascribed to the Company pending the Hon’ble Court’s final decision in the Writ Petition.
(d) During the year ended March 31, 2022, the Company received an order under Section 26(1) of the Competition
Act, 2002, under which the Hon’ble Competition Commission of India (CCI) initiated an investigation into
certain aspects of the Company’s business. The Company continues to work closely with the Hon’ble CCI
to assist them with their inquiry and explain to the Hon’ble CCI why all its practices are in compliance with
competition laws and do not have any adverse effect on competition in India.
43 Trade payable ageing :

As at March 31, 2024
(INR crores)
Particulars Outstanding for following periods from Total
the date of transaction
Not yet Less than 1-2 years 2-3 years More than
due * 1 year 3 years
Micro enterprises and small 5 10 0 0 - 15
enterprises
Others 815 46 6 2 1 870
Disputed dues-others 1 - 0 - 0 1

(INR crores)
due* 1 year 3 years
Micro enterprises and small 1 8 0 - - 9
enterprises
Others 593 69 4 3 1 670
Disputed dues-others - - - 0 - 0
* represents unbilled trade payables
247

CIN : L93030DL2010PLC198141
44 Trade receivable - ageing :

(INR crores)

due date of payment
Not yet Less 6 1-2 2-3 More

due than 6 months years years than 3
months to 1 year years
Undisputed - Trade receivables- 633 161 - - - - 794
considered good*
Undisputed Trade Receivables – - - 11 10 - - 21
credit impaired

(INR crores)

due date of payment


considered good*
Undisputed Trade Receivables – - 7 6 3 1 - 17
credit impaired
*The amount of not yet due includes unbilled dues of 136 crores and INR 78 crores as at March 31, 2024 and March 31, 2023 respectively.
45 Capital work-in progress - ageing :

(INR crores)
Capital work-in progress Amount in capital work-in progress for a period of Total
Less than 1-2 years 2-3 years More than

1 year 3 years
Projects in progress 18 - - - 18
248

CIN : L93030DL2010PLC198141

(INR crores)
Capital work-in progress Amount in capital work-in progress for a period of Total
Less than 1-2 years 2-3 years More than

1 year 3 years
Projects in progress 7 - - - 7
There is no project whose completion is overdue or has exceeded its cost compared to its original plan
during the year.
46 D uring the year ended March 31, 2022, the Company completed initial public offer (IPO) of
1,23,35,52,631 equity shares of face value of INR 1 each at an issue price of INR 76 per share,
comprising fresh issue of 1,18,42,10,526 shares and offer for sale of 4,93,42,105 by Info Edge
(India) Limited (existing shareholder). Pursuant to the IPO, the equity shares of the Company were
listed on National Stock Exchange of India Limited (NSE) and BSE Limited (BSE) on July 23, 2021.
The Company received an amount of INR 8,728 crores (net of IPO expenses of INR 272 crores) from
proceeds out of fresh issue of equity shares which were fully utilised during the previous financial
year ended March 31, 2023.
(INR crores)
Objects of the issue as per Amount to be Utilisation up to Unutilised
prospectus utilised as per March 31, 2023 as on
prospectus March 31, 2023
1. Funding organic and inorganic

6,750 6,750 -
growth initiatives
2. General corporate purposes 1,978 1,978 -
Net Proceeds 8,728 8,728 -
249
CIN : L93030DL2010PLC198141
47 Relationship with struck off companies

(INR crores)
Sr. Name of the struck off Company Nature of transactions Relationship with the Balance outstanding Balance outstanding
No. with struck off Company struck off Company as at March 31, 2024* as at March 31, 2023*
1 Crudex Lng Petroleum Private Limited Advance from customer Customer 0 -

2 Dietshala Private Limited Advance from customer Customer - 0
3 Flavoursking Hospitality Private Limited Advance from customer Customer 0 0
4 Golmooorrich Food Services Private Limited Advance from customer Customer 0 -
5 Govindkripa Reflectservices Private Limited Advance from customer Customer 0 -
Company Overview
6 Insp Hospitality Private Limited Advance from customer Customer 0 -

7 Kerman'S Hospitality Service Private Limited Advance from customer Customer 0 0
8 My Muscle Meal Private Limited Advance from customer Customer 0 0
9 Navgrah Hospitality Private Limited. Advance from customer Customer 0 0
10 Nozama Hospitality (Opc) Private Limited Advance from customer Customer 0 0
11 Sarvaripati Shivay Catering And Hospitality Private Advance from customer Customer - 0
Limited
Statutory Reports
12 Star Gourmet Private Limited Advance from customer Customer - 0

13 Story Kitchen Private Limited Advance from customer Customer - 0
14 Swayam Comicbuk Private Limited Advance from customer Customer 0 -
15 Thodaaur Services Private Limited Advance from customer Customer - 0
16 Veshra Restaurant Private Limited Advance from customer Customer - 0
17 Villva Foods And Beverages Private Limited Advance from customer Customer - 0
18 Delivea Kitchens (Opc) Private Limited Advance to vendor Vendor - 0
19 Dripping Cones Ice Cream Private Limited Advance to vendor Vendor - 0
20 Utilidad Solutions Private Limited Advances to Vendor Vendor 0 -
21 99 Healthlounge Private Limited Payable to merchant Merchant 0 0
22 Aalbaik India Private Limited Payable to merchant Merchant 0 0
23 Abhinil Hospitality Private Limited Payable to merchant Merchant 0 0
24 Adhya Hospitality Services Private Limited Payable to merchant Merchant 0 0
250
CIN : L93030DL2010PLC198141
(INR crores)
25 Alhabibi Food Private Limited Payable to merchant Merchant - 0

26 Arhaam Fine Dine Private Limited Payable to merchant Merchant 0 0
27 Asdev Hotels Private Limited Payable to merchant Merchant - 0
28 Blue Whale Ventures Private Limited Payable to merchant Merchant 0 0
29 Bonjour Bonheur Holidays Private Limited Payable to merchant Merchant 0 0
30 Cocoteros Hospitality Private Limited Payable to merchant Merchant 0 -
31 Convenant Ark Ventures Private Limited Payable to merchant Merchant 0 0
Company Overview
32 Crudex Lng Petroleum Private Limited Payable to merchant Merchant 0 -

33 Dalchini (Opc) Private Limited Payable to merchant Merchant 0 0
34 Ddoy Exports And Traders Private Limited Payable to merchant Merchant - 0
35 Deja Brew Cafe Private Limited Payable to merchant Merchant - 0
36 Dosursu Food Products Private Limited Payable to merchant Merchant 0 0
37 Fish N Chips Foods Private Limited Payable to merchant Merchant - 0
38 Greenox Food And Beverages Private Limited Payable to merchant Merchant 0 -
Statutory Reports
39 Kanir Consturctions Private Limited Payable to merchant Merchant 0 -

40 Keepmefit Wellness Private Limited Payable to merchant Merchant 0 0
41 Khanabadosh India Private Limited Payable to merchant Merchant 0 -
42 Kin Dwell Hospitality Private Limited Payable to merchant Merchant 0 0
43 Krisa Hospitality Private Limited Payable to merchant Merchant 0 -
44 Kroods Technologies Private Limited Payable to merchant Merchant 0 -
45 Marshall Hotels Private Limited Payable to merchant Merchant 0 0
46 Megros Services Private Limited Payable to merchant Merchant 0 0
47 Mntr Yummies Pizza Mart Private Limited Payable to merchant Merchant 0 -
48 My Muscle Meal Private Limited Payable to merchant Merchant 0 0
49 Newayz Hospitality & Support Services Private Payable to merchant Merchant 0 0
Limited
251
CIN : L93030DL2010PLC198141
(INR crores)
50 Nozama Hospitality (Opc) Private Limited Payable to merchant Merchant - 0

51 Npc Foods (Opc) Private Limited Payable to merchant Merchant - 0
52 Omgourmet Nutrition Private Limited Payable to merchant Merchant 0 0
53 Pan Club Hotels Private Limited Payable to merchant Merchant 0 0
54 Peedampalli Brothers Ventures Private Limited Payable to merchant Merchant - 0
55 Ranjit Mahaprabhu Gita (Opc) Private Limited Payable to merchant Merchant - 0
56 Rap Hotels & Resorts Private Limited Payable to merchant Merchant 0 -
Company Overview
57 Rpm Global Solutions Private Limited Payable to merchant Merchant 0 0

58 S T Developers Co Private Limited Payable to merchant Merchant 0 -
59 Sarvaripati Shivay Catering And Hospitality Private Payable to merchant Merchant - 0
Limited
60 Simply Sweet Bakers Private Limited Payable to merchant Merchant 0 0
61 Star Gourmet Private Limited Payable to merchant Merchant 0 0
62 Thodaaur Services Private Limited Payable to merchant Merchant 0 0
Statutory Reports
63 Trofi Hospitality Private Limited Payable to merchant Merchant 0 0

64 Twenty Four Hour Cake Private Limited Payable to merchant Merchant - 0
65 Vanhog Restaurant & Cafe Private Limited Payable to merchant Merchant 0 0
66 Veshra Restaurant Private Limited Payable to merchant Merchant - 0
67 Vimora Food And Beverage India Private Limited Payable to merchant Merchant 0 -
68 Webplanet Iets Private Limited Payable to merchant Merchant 0 0
69 Right Place Manpower Solutions Private Limited Payable to Vendor Vendor 0 0
70 Farm Greenery Private Limited Purchase of Goods Vendor - 0
71 Burgholic Private Limited Purchase of Goods Vendor - -
72 Snb Business Services Private Limited Trade payable Vendor - 0
73 Brainchild Business Solutions Private Limited Trade payable Vendor 0 0
74 Ascentium Management Services Private Limited Trade payable Vendor 0 0
252
CIN : L93030DL2010PLC198141
(INR crores)
75 Mobiation Software Services Private Limited Trade payable Vendor 0 0

76 Cubbyhole Private Limited Trade payable Vendor - 0
77 Abhinil Hospitality Private Limited Trade receivables Customer - 0
78 Adhya Hospitality Services Private Limited Trade receivables Customer - 0
79 Apple Vacations And Developers Private Limited Trade receivables Customer - 0
80 Arhaam Fine Dine (Opc) Private Limited Trade receivables Customer 0 0
81 Art Of Masala Foods Private Limited Trade receivables Customer - 0
Company Overview
82 Astha Siddhi Vinayak Multi Services Private Trade receivables Customer - 0

Limited
83 Baguette Salads Private Limited Trade receivables Customer 0 -
84 Bbq Central Hotels Private Limited Trade receivables Customer 0 -
85 Bleucat Ventures Private Limited Trade receivables Customer - 0
86 Blue Whale Ventures Private Limited Trade receivables Customer - 0
87 Bond Coffee Private Limited Trade receivables Customer - 0
Statutory Reports
88 Chai Kahani Cafes And Services Private Limited Trade receivables Customer 0 0
89 Chef Style Grand Private Limited Trade receivables Customer 0 0
90 Convenant Ark Ventures Private Limited Trade receivables Customer 0 0
91 Crazy About Pizzaa Private Limited Trade receivables Customer - 0
92 Crispbread Confectioneries Private Limited Trade receivables Customer - 0
93 Crr Fnb Services Private Limited Trade receivables Customer 0 0
94 Ddoy Exports And Traders Private Limited Trade receivables Customer - 0
95 Deepforest Private Limited Trade receivables Customer 0 -
96 Deja Brew Cafe Private Limited Trade receivables Customer - 0
97 Dosursu Food Products Private Limited Trade receivables Customer - 0
98 Dsquare Foods Private Limited Trade receivables Customer 0 -
99 Fish N Chips Foods Private Limited Trade receivables Customer - 0
253
CIN : L93030DL2010PLC198141
(INR crores)
100 Food Personage Private Limited Trade receivables Customer - 0

101 Food Realm Private Limited Trade receivables Customer 0 0
102 Freundlich Flavours Hospitality Private Limited Trade receivables Customer - 0
103 Greenox Food And Beverages Private Limited Trade receivables Customer 0 -
104 Greenox Healthy Express Private Limited Trade receivables Customer - 0
105 Harsha And Dushyanth Ventures Private Limited Trade receivables Customer 0 0
106 Ichiban Tabemono Food And Beverages India Trade receivables Customer - 0
Company Overview
Private Limited
107 Internatural Food Products Private Limited Trade receivables Customer - 0
108 Kakka Buvva Foods Private Limited Trade receivables Customer 0 0
109 Kerman'S Hospitality Service Private Limited Trade receivables Customer 0 0
110 Khanabadosh India Private Limited Trade receivables Customer 0 -
111 Kripalu Enterprises (Opc) Private Limited Trade receivables Customer 0 0
112 Krsna Hospitality Private Limited Trade receivables Customer - 0
Statutory Reports
113 Lorgan Food Enterprises Private Limited Trade receivables Customer - 0

114 Maa Bhook Lagi Food Services Private Limited Trade receivables Customer 0 0
115 Mahanirvana Hospitality Private Limited Trade receivables Customer 0 -
116 Mahsri Foods Private Limited Trade receivables Customer - 0
117 Mansico India Private Limited Trade receivables Customer - 0
118 Megros Services Private Limited Trade receivables Customer - 0
119 Mirora Hotels And Restaurants Private Limited Trade receivables Customer - 0
120 Montage Retail Private Limited Trade receivables Customer 0 -
121 My Muscle Meal Private Limited Trade receivables Customer - 0
122 Newayz Hospitality & Support Services Private Trade receivables Customer - 0
Limited
123 Nine Nakamoto Private Limited Trade receivables Customer - 0
254
CIN : L93030DL2010PLC198141
(INR crores)
124 Nozama Hospitality (Opc) Private Limited Trade receivables Customer 0 0

125 Npc Foods (Opc) Private Limited Trade receivables Customer 0 -
126 Omgourmet Nutrition Private Limited Trade receivables Customer - 0
127 Openhearth Hospitality Private Limited Trade receivables Customer - 0
128 Peedampalli Brothers Ventures Private Limited Trade receivables Customer 0 -
129 Red Chick-Bablu Gurung (Opc) Private Limited Trade receivables Customer 0 -
130 Redaroma Foods Private Limited Trade receivables Customer - 0
Company Overview
131 Relume Innovations Private Limited Trade receivables Customer 0 -

132 Rnv Hospitality Services Private Limited Trade receivables Customer - 0
133 Shangrila Cuisines Private Limited Trade receivables Customer 0 0
134 Simply Sweet Bakers Private Limited Trade receivables Customer 0 -
135 Tamarai Hotels Private Limited Trade receivables Customer 0 0
136 Terrafix Hospitality Private Limited Trade receivables Customer 0 0
137 Thodaaur Services Private Limited Trade receivables Customer 0 0
Statutory Reports
138 Trofi Hospitality Private Limited Trade receivables Customer 0 0

139 Twenty Four Hour Cake Private Limited Trade receivables Customer 0 0
140 Vanhog Restaurant & Cafe Private Limited Trade receivables Customer - 0
141 Veshra Restaurant Private Limited Trade receivables Customer 0 -
142 Vivid Foods India Private Limited Trade receivables Customer - 0
143 Wemoksha Hospitality Private Limited Trade receivables Customer 0 0
144 Zoberry Foods Private Limited Trade receivables Customer 0 -
145 Wehr Jk Manpower Services Private Limited Warehouse Management Exp Vendor 0 -
* Value less than INR 50,00,000
255
CIN : L93030DL2010PLC198141
48 Statutory Group Information

(INR crores)
Name of the entity in the Group Net Assets, Share in loss Share in other Share in total
i.e., total assets minus Comprehensive income/ Comprehensive loss
total liabilities (loss)
As % of Amount As % of Amount As % of Amount As % of total Amount
consolidated consolidated consolidated comprehensive
net assets profit and other income
loss comprehensive
income
Parent
Zomato Limited
Company Overview
Balance as at March 31, 2024 112% 22,775 391% 1,371 91% 50 350% 1,421
Balance as at March 31, 2023 107% 20,806 -12% 117 102% (101) -1% 16
Subsidiaries and Trust

Indian
Zomato Hyperpure Private Limited
Balance as at March 31, 2024 5% 1,021 -46% (160) 11% 6 -38% (154)
Balance as at March 31, 2023 2% 475 22% (209) -1% 1 19% (208)
Statutory Reports
Carthero Technologies Private

Limited
Balance as at March 31, 2024 0% 23 0% 0 0% - 0% 0
Foodie Bay Employees ESOP Trust

Balance as at March 31, 2024 0% - 0% - 0% - 0% -
Zomato Entertainment Private

Limited
Balance as at March 31, 2024 0% 7 -13% (46) 0% (0) -11% (46)
Balance as at March 31, 2023 0% (0) 1% (5) 0% 0 0% (5)
256
CIN : L93030DL2010PLC198141
48 Statutory Group Information (Contd.)

(INR crores)
loss comprehensive
income
Myfri benefit trust
Company Overview
Zomato Local Services Private

Limited
Balance as at March 31, 2023 0% (0) 0% (0) 0% (0) 0% (0)
Zomato Foods Private Limited

Statutory Reports

Balance as at March 31, 2023 0% 2 0% (0) 0% - 0% (0)
Zomato Financial Services Limited

Balance as at March 31, 2024 0% 14 0% (1) 0% (0) 0% (1)
Zomato Payments Private Limited

Balance as at March 31, 2023 0% 34 1% (12) 0% 0 1% (12)
Tonguestun Food Network Private

Limited
Balance as at March 31, 2023 0% (20) 0% (1) 0% - 0% (1)
257
CIN : L93030DL2010PLC198141

(INR crores)
loss comprehensive
income
Blink Commerce Private Limited
(formerly known as Grofers Private
Company Overview
Limited)
Balance as at March 31, 2023 2% 364 78% (754) -1% 1 70% (754)
Foreign
Pt Zomato Media Indonesia
(Indonesia)
Balance as at March 31, 2024 0% - 0% (0) 0% (0) 0% (0)
Statutory Reports
Balance as at March 31, 2023 0% 2 0% 3 0% 0 0% 3
Zomato NZ Media Pvt. Ltd.

(New Zealand)
Zomato Media (Private) Limited

(Sri Lanka)
258
CIN : L93030DL2010PLC198141
48 Statutory Group Information (Contd.) (INR crores)

loss comprehensive
income
Zomato Portugal Media, Unipessoal
Lda
Company Overview
Zomato Chile Spa (Chile)

Zomato Ireland Limited (Ireland)

Statutory Reports

Balance as at March 31, 2023 0% 11 -1% 12 2% (2) -1% 10
Zomato Malaysia Sdn. Bhd. (Malaysia)

Zomato Slovakia S.R.O. (Slovak)

Lunchtime.Cz S.R.O. (Czech Republic)

259

CIN : L93030DL2010PLC198141

(INR crores)
loss comprehensive
income
Gastronauci Sp z.o.o (Poland)

Company Overview

Zomato Australia Pty Limited

(Australia)
Balance as at March 31, 2023 0% (0) 0% 2 0% (0) 0% 2
Statutory Reports
Zomato, Inc. (USA)

Balance as at March 31, 2024 0% 0 -1% (3) 0% 0 -1% (3)
Zomato Netherlands B.V.

(Netherlands)
Zomato Internet Hizmetleri Ticaret

Anonim Sirketi
Balance as at March 31, 2024 0% 3 0% 1 -3% (2) 0% (1)
Balance as at March 31, 2023 0% 4 0% 0 1% (1) 0% (0)
260
CIN : L93030DL2010PLC198141

(INR crores)
loss comprehensive
income
Zomato Vietnam Company Limited

Company Overview
(Vietnam)
Balance as at March 31, 2023 0% 0 0% (0) 0% 0 0% 0
Zomato Middle East Fz - LLC (Dubai)

Balance as at March 31, 2023 0% 54 -1% 11 -4% 4 -1% 15
Statutory Reports
Zomato Philippines Inc (Philippines)

Balance as at March 31, 2024 0% (2) 0% (1) 0% 0 0% (1)
Zomato Internet LLC

Balance as at March 31, 2024 0% - 0% (0) 0% (0) 0% (0)
Balance as at March 31, 2023 0% - 0% (1) 0% 0 0% (1)
Delivery 21 INC
Balance as at March 31, 2024 0% (14) 0% - 0% 0 0% 0
261
CIN : L93030DL2010PLC198141

(INR crores)
loss comprehensive
income
Non Controlling Interest in all

Company Overview
Subsidiaries
Balance as at March 31, 2024 0% (7) 0% - 0% (0) 0% (0)
Balance as at March 31, 2023 0% (7) 0% (0) 0% 0 0% -
Associate (as per proportionate

consolidation/ investment as per
the equity method)
Statutory Reports
Foreign
ZMT Europe, LDA.
Balance as at March 31, 2023 0% - 0% (0) 0% - 0% (0)
Consolidation Adjustments
Balance as at March 31, 2024 -20% (3,992) -47% (163) 0% (0) -40% (163)
Balance as at March 31, 2023 -12% (2,299) 14% (136) 0% 0 13% (135)
Total
Balance as at March 31, 2024 100% 20,406 100% 351 100% 55 100% 406
Balance as at March 31, 2023 100% 19,453 100% (971) 100% (99) 100% (1,070)
262

CIN : L93030DL2010PLC198141
49 The Ministry of Corporate Affairs (MCA) introduced certain requirements, where accounting softwares
used by the Parent Company and its subsidiaries Company’s should have a feature of recording audit trail of
each and every transaction (effective April 01, 2023). The Group has an IT environment which is adequately
governed with General Information Technology Controls (GITCs) for financial reporting process and the
parent and subsidiaries Company’s incorporated in India, has assessed all of its IT applications that are
relevant for maintaining books of accounts.
The parent and subsidiaries incorporated in India has used accounting software for maintaining its books
of account for the year ended March 31, 2024 which has a feature of recording audit trail (edit log) facility
and the same has operated throughout the year for all relevant transactions recorded in the software,
except that:
· I n respect of certain inhouse developed software(s) and accounting software, the audit trail feature was
not enabled at the database level to log any direct changes to the database.
· I n respect of a software used for payroll processing and purchase records (implemented w.e.f August
17, 2023) in which the database is maintained by a third party software service provider, the Group is in
the discussion with a third party service provider to implement audit trail feature at database level.
The parent and subsidiaries company incorporated in India, has not noted any tampering of the audit trail
feature in respect of the software for which the audit trail feature was operating.
50 (a) No funds (which are material either individually or in the aggregate) have been advanced or loaned
or invested (either from borrowed funds or share premium or any other sources or kind of funds)
by the Parent or any of the subsidiaries to or in any other person(s) or entity(is), including foreign
entities (“Intermediaries”), with the understanding, whether recorded in writing or otherwise, that
the Intermediary shall, directly or indirectly lend or invest in other persons or entities identified in any
manner whatsoever by or on behalf of the Parent or any of the subsidiaries (“Ultimate Beneficiaries”)
or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
(b) No funds (which are material either individually or in the aggregate) have been received by the
Parent or any of the subsidiaries from any person(s) or entity(is), including foreign entities (“Funding
Parties”), with the understanding, whether recorded in writing or otherwise, that the Parent or any
of the subsidiaries shall, directly or indirectly, lend or invest in other persons or entities identified in
any manner whatsoever by or on behalf of the Funding Party (“Ultimate Beneficiaries”) or provide any
guarantee, security or the like on behalf of the Ultimate Beneficiaries.
51 Zomato Payment Private Limited (ZPPL) (a Subsidiary of the Company) has decided to voluntarily
surrender the certificate of authorization obtained by the ZPPL from the Reserve Bank of India (“RBI”) to
operate as an online payment aggregator under the Payment and Settlements Systems Act, 2007. Further,
it also decided to voluntarily surrender its application with the RBI (for which it previously received in-
principle authorization) to operate as an issuer of pre-paid payment instruments, under the Payment and
Settlement Systems Act, 2007 and the Master Direction on Prepaid Payment Instruments.However, the
other operations of ZPPL will continue.
52 Recent pronouncements:
(A) The Ministry of Corporate Affairs has notified Companies (Indian Accounting Standards) Amendment
Rules, 2023 dated March 31, 2023 to amend the following Ind AS which are effective for annual periods
beginning on or after April 01, 2023. The Company applied these amendments for the first-time.
263

CIN : L93030DL2010PLC198141
(i) Definition of Accounting Estimates - Amendments to Ind AS 8

The amendments clarify the distinction between changes in accounting estimates and changes in
accounting policies and the correction of errors. It has also been clarified how entities use measurement
techniques and inputs to develop accounting estimates. The amendments had no impact on the
Company’s standalone financial statements.
(ii) Disclosure of Accounting Policies - Amendments to Ind AS 1

The amendments aim to help entities provide accounting policy disclosures that are more useful
by replacing the requirement for entities to disclose their ‘significant’ accounting policies with a
requirement to disclose their ‘material’ accounting policies and adding guidance on how entities apply
the concept of materiality in making decisions about accounting policy disclosures. The amendments
have had an minimal impact on the Company’s disclosures of accounting policies and no impact on the
measurement, recognition or presentation of any items in the Company’s financial statements.
(iii) Deferred Tax related to Assets and Liabilities arising from a Single Transaction - Amendments to
Ind AS 12
The amendments narrow the scope of the initial recognition exception under Ind AS 12, so that it no
longer applies to transactions that give rise to equal taxable and deductible temporary differences such
as leases. The Company previously recognised for deferred tax on leases on a net basis. As a result of
these amendments, the Company has recognised a separate deferred tax asset in relation to its lease
liabilities and a deferred tax liability in relation to its right-of-use assets. Since, these balances qualify
for offset as per the requirements of Ind AS 12, there is no impact in the balance sheet.
(B) Standards issued/notified but not yet effective
There are no standards that are notified and not yet effective as on the date.

Sd/- Sd/- Sd/-
(DIN-02613583) (DIN-03328890)
Date: May 13, 2024 Date: May 13, 2024
Sd/- Sd/-
264
Company Overview Statutory Reports Financial Statements: Standalone
Independent Auditor’s Report

To The Members of Zomato Limited for the Audit of the Standalone Financial Statements
Report on the Audit of the Standalone section of our report. We are independent of the
Financial Statements Company in accordance with the Code of Ethics issued
by the Institute of Chartered Accountants of India
Opinion (“ICAI”) together with the ethical requirements that
We have audited the accompanying standalone are relevant to our audit of the standalone financial
financial statements of Zomato Limited (“the
statements under the provisions of the Act and the
Company”), which comprise the Balance Sheet as
at March 31, 2024 and the Statement of Profit and Rules made thereunder and we have fulfilled our other
Loss (including Other Comprehensive Income), the ethical responsibilities in accordance with these
Statement of Cash Flows and the Statement of requirements and the ICAI’s Code of Ethics. We believe
Changes in Equity for the year ended and notes to that the audit evidence obtained by us and the audit
the financial statements, including a summary of evidence obtained by the other auditor in terms of their
material accounting policies and other explanatory reports referred to in the Other Matters section below,
information, which includes Foodie Bay Employees
is sufficient and appropriate to provide a basis for our
ESOP Trust (“trust”) (herein referred to as “the
standalone financial statements”). audit opinion on the standalone financial statements.
In our opinion and to the best of our information and Emphasis of Matter
according to the explanations given to us and based We draw attention to Note 39 to the standalone
on the consideration of report of the other auditor on financial statements relating to the show cause
financial statements of Foodie Bay Employees ESOP notices (SCNs) received by the Company from GST
Trust (“trust”) referred to in the Other Matters section authorities in respect of GST on delivery charges. The
below the aforesaid standalone financial statements Company, supported by the external expert’s advice,
give the information required by the Companies Act, is of the view that, it has a strong case on merits.
2013 (“the Act”) in the manner so required and give Given the uncertainty involved, the ultimate outcome
a true and fair view in conformity with the Indian
will be ascertained on the disposal of above matter.
Accounting Standards prescribed under section 133
of the Act, read with the companies (Indian Accounting Our conclusion is not modified in respect of this
standards) Rules 2015, as amended (“Ind AS”) and matter.
other accounting principles generally accepted in
India, of the state of affairs of the Company as at Key Audit Matters
March 31, 2024 and its profit, total comprehensive Key audit matters are those matters that, in our
income, its cash flows and the changes in equity for professional judgment, were of most significance in
the year ended on that date. our audit of the standalone financial statements of
the current year. These matters were addressed in
Basis for Opinion the context of our audit of the standalone financial
We conducted our audit of the standalone financial statements as a whole and in forming our opinion
statements in accordance with the Standards on thereon and we do not provide a separate opinion
Auditing (“SAs”) specified under section 143(10) of on these matters, we have determined the matters
the Act. Our responsibilities under those Standards described below to be the key audit matters to be
are further described in the Auditor’s Responsibility communicated in our report.
265

No.
1 Impairment of investment in a subsidiary Principal audit procedures performed:
(Refer note 5 & 41 of the standalone financial
statement) • Evaluated the design, implementation and tested
the operating effectiveness of relevant internal
Investments in subsidiaries are accounted controls relating to impairment assessment of
for at cost less impairment in the Company’s investment in subsidiary.
standalone financial statements;
• Evaluated the reasonableness of the business
If impairment indicators exist, the recoverable assumptions relating to future revenue growth;
amounts of the investments in subsidiaries
are estimated in order to determine the • Evaluated the objectivity and competency of the
extent of the impairment loss, if any. Any such specialist engaged by the Company and reviewed
impairment loss is recognised in the Statement the valuation report issued by such specialist;
of Profit and Loss; • We have used our valuation specialists to assess
During the current year, based on identified overall reasonableness of the assumptions used
impairment indicators, management has particularly those relating to the weighted average
carried out impairment assessment by cost of capital and terminal growth rate;
comparing the carrying value of these • Performed sensitivity analysis on the key
investments to their recoverable amount assumptions such as weighted average cost of
to determine whether an impairment was capital and terminal growth rate;
required to be recognized.
We considered the assumptions relating

to future revenue growth and the valuation
assumptions, specifically, the assumptions
relating to weighted average cost of capital
and terminal growth rate, used in estimation
of recoverable value of the investment in
Zomato Hyperpure Private Limited (with
carrying value of INR 1,664 Crores as on
March 31, 2024) and Blink Commerce Private
Limited (with Carrying value of INR 6,248 Crores
as on March 31, 2024) as key audit matter due
involved in estimation of these assumptions.
266

No.
2. Fair valuation of investment in other entities Principal audit procedures performed:
(Refer note 5 & 33 of the standalone financial • Evaluated the design, implementation and tested
statement) operating effectiveness of relevant internal
controls relating to determination of the fair value
The Company has made investments in
of investment in the said entities.
CureFit Healthcare Private Limited, BigFoot
Retail Solutions Private Limited, Samast • Evaluated the objectivity and competence of the
Technologies Private Limited and Adonmo specialist engaged by the Company and reviewed
Private Limited where the aggregate carrying the valuation report issued by such specialist.
value of these investments as on March 31,
• With the assistance of our valuation specialists,
2024 is INR 1,939 crores. These investments
we have assessed overall reasonableness of
are measured at Fair Value through Other
the methodology used and assumptions used
Comprehensive Income (‘FVTOCI’) as at
particularly those relating to the weighted average
March 31, 2024.
cost of capital, terminal growth rate and revenue
We considered the valuation assumptions multiple.
relating to weighted average cost of capital,
terminal growth rate, revenue multiple and
the methodology in estimation of fair value of
these investments as a key audit matter due
involved in determination of fair value.
3. Revenue Recognition Principal audit procedures performed:

(Refer note 20 & 2.2.x of the standalone • We obtained an understanding, evaluated the
financial statements) design and tested the operating effectiveness of
The Company provides an e-commerce (i) the general IT controls, automated controls and
platform that enables merchants to sell their control over system generated reports relevant for
food items to users through the platform. The revenue recognition by involving our IT specialist;
Company mainly generates revenue through (ii) controls over recording of revenue relating to food
commission revenue. delivery business; (iii) control over determination of
commission rate and (iv) control over reconciliations
The Company’s revenue process is largely
performed between the commission revenue
automated and relies significantly on its IT
recorded and amount received from payment
systems.
gateway;
We considered accuracy of revenue relating
• We tested inter se reconciliations between reports
to food delivery as a key audit matter because
generated from relevant IT systems with general
of the complexity of the IT systems and
ledger;
significance of volumes of data processed by
the IT systems. • We tested, on a sample basis, underlying contracts,
identifying the key terms and attributes from the
contracts and checking them against the underlying
data from the system used in the transaction
processes and then recalculating the revenue
amount.
267
Information Other than the Financial other irregularities; selection and application of
Statements and Auditor’s Report appropriate accounting policies; making judgments
and estimates that are reasonable and prudent;
Thereon
and design, implementation and maintenance of
• The Company’s Board of Directors is responsible adequate internal financial controls, that were
for the other information. The other information operating effectively for ensuring the accuracy and
comprises the information included in the Board’s completeness of the accounting records, relevant
report, but does not include the consolidated
to the preparation and presentation of the financial
financial statements, standalone financial
statements that give a true and fair view and are free
statements and our auditor’s report thereon. The
from material misstatement, whether due to fraud
Board report is expected to be made available to
or error.
us after the date of this auditor’s report.
In preparing the standalone financial statements,
• Our opinion on the standalone financial statements management and Board of Directors is responsible
does not cover the other information and we will for assessing the Company’s ability to continue as
not express any form of assurance conclusion a going concern, disclosing, as applicable, matters
thereon. related to going concern and using the going concern
• In connection with our audit of the standalone basis of accounting unless the Board of Directors
financial statements, our responsibility is to read either intend to liquidate the Company or to cease
the other information identified above when it operations, or has no realistic alternative but to do so.
becomes available and, in doing so, consider The Company’s Board of Directors are also responsible
whether the other information is materially for overseeing the Company’s financial reporting
inconsistent with the standalone financial process.
statements or our knowledge obtained during
the course of our audit or otherwise appears to Auditor’s Responsibility for the Audit of
be materially misstated. the Standalone Financial Statements
• When we read the Board’s report if we conclude Our objectives are to obtain reasonable assurance
that there is a material misstatement therein, we about whether the standalone financial statements
are required to communicate the matter to those as a whole are free from material misstatement,
charged with governance as required under SA whether due to fraud or error and to issue an
720 ‘The Auditor’s responsibilities Relating to auditor’s report that includes our opinion. Reasonable
Other Information’. assurance is a high level of assurance, but is not a
guarantee that an audit conducted in accordance
Responsibilities of Management and with SAs will always detect a material misstatement
Those Charged with Governance for the when it exists. Misstatements can arise from fraud or
Standalone Financial Statements error and are considered material if, individually or in
The Company’s Board of Directors is responsible for the aggregate, they could reasonably be expected to
the matters stated in section 134(5) of the Act with influence the economic decisions of users taken on
respect to the preparation of these standalone the basis of these standalone financial statements.
financial statements that give a true and fair view As part of an audit in accordance with SAs, we exercise
of the financial position, financial performance professional judgment and maintain professional
including other comprehensive income, cash
skepticism throughout the audit. We also:
flows and changes in equity of the Company in
accordance with the accounting principles generally •
Identify and assess the risks of material
accepted in India, including Ind AS specified under misstatement of the standalone financial
section 133 of the Act. This responsibility also statements, whether due to fraud or error, design
includes maintenance of adequate accounting and perform audit procedures responsive to those
records in accordance with the provisions of the risks and obtain audit evidence that is sufficient
Act for safeguarding the assets of the Company and appropriate to provide a basis for our opinion.
and for preventing and detecting frauds and The risk of not detecting a material misstatement
268
resulting from fraud is higher than for one resulting been audited by other auditor remain responsible
from error, as fraud may involve collusion, forgery, for the direction, supervision and performance of
intentional omissions, misrepresentations or the the audits carried out by them. We remain solely
override of internal control. responsible for our audit opinion.
• Obtain an understanding of internal financial Materiality is the magnitude of misstatements in the
controls relevant to the audit in order to design standalone financial statements that, individually or
audit procedures that are appropriate in the in aggregate, makes it probable that the economic
circumstances. Under section 143(3)(i) of the Act, decisions of a reasonably knowledgeable user of the
we are also responsible for expressing our opinion standalone financial statements may be influenced.
on whether the Company has adequate internal We consider quantitative materiality and qualitative
financial controls with reference to standalone factors in (i) planning the scope of our audit work
financial statements in place and the operating and in evaluating the results of our work; and (ii) to
effectiveness of such controls. evaluate the effect of any identified misstatements
• Evaluate the appropriateness of accounting in the standalone financial statements.
policies used and the reasonableness of We communicate with those charged with governance
accounting estimates and related disclosures regarding, among other matters, the planned scope
made by the management. and timing of the audit and significant audit findings,
• Conclude on the appropriateness of management’s including any significant deficiencies in internal
use of the going concern basis of accounting and financial controls that we identify during our audit.
based on the audit evidence obtained, whether a We also provide those charged with governance with
material uncertainty exists related to events or a statement that we have complied with relevant
conditions that may cast significant doubt on the ethical requirements regarding independence and to
Company’s ability to continue as a going concern. communicate with them all relationships and other
If we conclude that a material uncertainty exists, matters that may reasonably be thought to bear on
we are required to draw attention in our auditor’s our independence and where applicable, related
report to the related disclosures in the standalone safeguards.
financial statements or if such disclosures are
inadequate, to modify our opinion. Our conclusions From the matters communicated with those charged
are based on the audit evidence obtained up to with governance, we determine those matters
the date of our auditor’s report. However, future that were of most significance in the audit of the
events or conditions may cause the Company to standalone financial statements of the current period
cease to continue as a going concern. and are therefore the key audit matters. We describe
these matters in our auditor’s report unless law or
• Evaluate the overall presentation, structure and regulation precludes public disclosure about the
content of the standalone financial statements, matter or when, in extremely rare circumstances, we
including the disclosures and whether the determine that a matter should not be communicated
standalone financial statements represent the in our report because the adverse consequences of
underlying transactions and events in a manner doing so would reasonably be expected to outweigh
that achieves fair presentation. the public interest benefits of such communication.
• Obtain sufficient appropriate audit evidence
Other Matters
regarding the financial information of the
Company which include the trust to express an We did not audit the financial statements of trust
opinion on the standalone financial statements. included in the standalone financial statements of
We are responsible for the direction, supervision the Company whose financial statements reflect
and performance of the audit of the financial total assets of INR 25 crores as at March 31, 2024
statements of such entities included in the and total revenue of INR Nil for the year ended on
standalone financial statements of which we are that date, as considered in the standalone financial
the independent auditors. For the trust included in statements. The financial statements of trust have
the standalone financial statements, which have been audited by the other auditor whose reports
269
have been furnished to us by the management and to our separate Report in “Annexure A”. Our
our opinion in so far as it relates to the amounts and report expresses an unmodified opinion on
disclosures included in respect of the trust and our the adequacy and operating effectiveness of
report in terms of subsection (3) of Section 143 of the the Company’s internal financial controls with
Act, in so far as it relates to trust, is based solely on reference to standalone financial statements.
the report of such other auditor.
g) With respect to the other matters to be
Our opinion on the standalone financial statements included in the Auditor’s Report in accordance
and our report on Other Legal and Regulatory with the requirements of section 197(16)of the
Requirements below is not modified in respect of Act, as amended,
these matters.
In our opinion and to the best of our information
Report on Other Legal and Regulatory and according to the explanations given to us,
Requirements the remuneration paid by the Company to its
directors during the year is in accordance with
1. As required by Section 143(3) of the Act, based on
the provisions of section 197 of the Act.
our audit and on the consideration of the reports of
other auditor on the separate financial statement, h) The Modification relating to complying with
referred to in the Other Matters section above, we the requirements of audit trial is as stated in
report that: paragraph (b) above.
a)
We have sought and obtained all the i) With respect to the other matters to be
information and explanations which to the best included in the Auditor’s Report in accordance
of our knowledge and belief were necessary with Rule 11 of the Companies (Audit and
for the purposes of our audit. Auditors) Rules, 2014, as amended in our
opinion and to the best of our information and
b) In our opinion, except for not complying with
according to the explanations given to us:
requirements of Audit trail as stated in (i)(vi)
proper books of account as required by law i. The Company has disclosed the impact of
have been kept by the Company so far as it pending litigations on its financial position
appears from our examination of those books. in its standalone financial statements.
c) The Balance Sheet, the Statement of Profit and ii. The Company did not have any long-term
Loss including Other Comprehensive Income, contracts including derivative contracts
the Cash Flow Statement and Statement of for which there were any material
Changes in Equity dealt with by this Report foreseeable losses.
are in agreement with the relevant books of
iii. There has no amounts which were required
account.
to be transferred to the Investor Education
d) In our opinion, the aforesaid standalone and Protection Fund by the Company
financial statements comply with the Ind AS during the year March 31, 2024.
specified under Section 133 of the Act.
iv. (a) The Management has represented that,
e) On the basis of the written representations to the best of its knowledge and belief,
received from the directors as on as disclosed in the notes to the accounts
March 31, 2024 taken on record by the Board of no funds (which are material either
Directors, none of the directors is disqualified individually or in the aggregate) have
as on March 31, 2024 from being appointed as been advanced or loaned or invested
a director in terms of Section 164(2) of the Act. (either from borrowed funds or share
premium or any other sources or kind
f) With respect to the adequacy of the internal
of funds) by the Company to or in any
financial controls with reference to standalone
other person(s) or entity(ies), including
financial statements of the Company and the
foreign entities (“Intermediaries”),
operating effectiveness of such controls, refer
with the understanding, whether
270
recorded in writing or otherwise, accounting software for maintaining

that the Intermediary shall, directly its books of account for the year ended
or indirectly lend or invest in other March 31, 2024 which has a feature of
persons or entities identified in any recording audit trail (edit log) facility and
manner whatsoever by or on behalf of the same has operated throughout the
the Company (“Ultimate Beneficiaries”) year for all relevant transactions recorded
or provide any guarantee, security in the software, except that:
or the like on behalf of the Ultimate
(a)
i n respect of certain accounting
Beneficiaries.
software, audit trail was not enabled
(b) The Management has represented, at the database level to log any direct
that, to the best of its knowledge data changes,
and belief, as disclosed in the notes
(b) in respect of an accounting software
to accounts, no funds (which are
for maintenance of payroll records,
material either individually or in
operated by third party software
aggregate ) have been received by
service provider, in the absence of
the Company from any person(s)
an independent auditor ’s system
or entity (ies), including foreign
and organization controls report
entities (“Funding Parties”), with the
covering the requirement of audit trail
understanding, whether recorded in
at database level, we are unable to
writing or otherwise, that the Company
comment whether audit trail feature
shall, directly or indirectly, lend or
at database level was enabled and
invest in other persons or entities
operated throughout the year for all
identified in any manner whatsoever
relevant transactions recorded in the
by or on behalf of the Funding Party
software or whether there were any
(“Ultimate Beneficiaries”) or provide
instances of the audit trail feature
any guarantee, security or the like on
been tampered with and
behalf of the Ultimate Beneficiaries.
(c) in respect of an accounting software,
(c)
B ased on the audit procedures
for maintenance of purchase records
performed that have been considered
for the period from August 17, 2023
reasonable and appropriate in the
operated by a third party software
circumstances, nothing has come
service provider, in the absence of
to our notice that has caused us
an independent auditor ’s system
or other auditor to believe that the
and organization controls report
representations under sub-clause (i)
covering the requirement of audit
and (ii) of Rule 11(e), as provided under
trail at database level, we are unable
(a) and (b) above, contain any material
to comment whether audit trail
misstatement.
feature of the software at database
v. The company has not declared or paid level was enabled and operated
any dividend during the year and has not from August 17, 2023 for all relevant
proposed final dividend for the year. transactions recorded in the software
or whether there were any instances
vi. B
ased on our examination, which included
of the audit trail feature been
test checks, the Company has used
tampered with.
271
Further, during the course of our audit, we did 2. As required by the Companies (Auditor’s Report)
not come across any instance of the audit trail Order, 2020 (“the Order”) issued by the Central
feature being tampered with in respect of the Government in terms of Section 143(11) of the Act,
accounting software for which the audit trail we give in “Annexure B” a statement on the matters
feature was operating. specified in paragraphs 3 and 4 of the Order.
As proviso to Rule 3(1) of the Companies For Deloitte Haskins & Sells
(Accounts) Rules, 2014 is applicable from Chartered Accountants
April 1, 2023 reporting under Rule 11 (g) of (Firm’s Registration No. 015125N)
the Companies (Audit and Auditors) Rules,
Sd/-
2014 on preservation of audit trail as per
Vikas Khurana
the statutory requirements for record
(Partner)
retention is not applicable for the year ended
March 31, 2024.
Date: May 13, 2024 UDIN: 24503760BKFDGV2205
272
Report on Internal Financial Controls with reference to standalone financial statements
Annexure “A” to the Independent Auditor’s Report

(Referred to in paragraph 1(f) under ‘Report on Other Legal and Regulatory Requirements’ section
Report on the Internal Financial Guidance Note on Audit of Internal Financial Controls
Controls with reference to standalone Over Financial Reporting (the “Guidance Note”) issued
by the Institute of Chartered Accountants of India and
financial statements under Clause (i)
the Standards on Auditing prescribed under Section
of Sub-section 3 of Section 143 of the 143(10) of the Companies Act, 2013, to the extent
Companies Act, 2013 (“the Act”) applicable to an audit of internal financial controls
We have audited the internal financial controls with with reference to standalone financial statements.
reference to standalone financial statements of Those Standards and the Guidance Note require that
Zomato Limited (“the Company”) as at March 31, we comply with ethical requirements and plan and
2024 in conjunction with our audit of the standalone perform the audit to obtain reasonable assurance
financial statements of the Company for the year about whether adequate internal financial controls
ended on that date which includes internal financial with reference to standalone financial statements
controls with reference to standalone financial was established and maintained and if such controls
statements of the Company. operated effectively in all material respects.
Management’s Responsibility for Our audit involves performing procedures to

Internal Financial Controls obtain audit evidence about the adequacy of
The Company’s management is responsible for the internal financial controls with reference to
establishing and maintaining internal financial standalone financial statements and their operating
controls with reference to standalone financial effectiveness. Our audit of internal financial controls
statements based on the internal control with with reference to standalone financial statements
reference to standalone financial statements included obtaining an understanding of internal
criteria established by the Company considering financial controls with reference to standalone
the essential components of internal control stated financial statements, assessing the risk that a
in the Guidance Note on Audit of Internal Financial material weakness exists and testing and evaluating
Controls Over Financial Reporting issued by the the design and operating effectiveness of internal
Institute of Chartered Accountants of India. These control based on the assessed risk. The procedures
responsibilities include the design, implementation selected depend on the auditor’s judgement, including
and maintenance of adequate internal financial the assessment of the risks of material misstatement
controls that were operating effectively for ensuring of the financial statements, whether due to fraud
the orderly and efficient conduct of its business, or error.
including adherence to the respective company’s
policies, the safeguarding of its assets, the prevention We believe that the audit evidence we have obtained
and detection of frauds and errors, the accuracy and is sufficient and appropriate to provide a basis for
completeness of the accounting records and the our audit opinion on the Company’s internal financial
timely preparation of reliable financial information, controls with reference to standalone financial
as required under the Companies Act, 2013. statements.
Auditor’s Responsibility Meaning of Internal Financial Controls

Our responsibility is to express an opinion on the with reference to standalone financial
Company’s internal financial controls with reference statements
to standalone financial statements of the Company. A company ’s internal financial control with
We conducted our audit in accordance with the reference to standalone financial statements is a
273
process designed to provide reasonable assurance standalone financial statements to future periods are
regarding the reliability of financial reporting and subject to the risk that the internal financial control
the preparation of financial statements for external with reference to standalone financial statements
purposes in accordance with generally accepted may become inadequate because of changes in
accounting principles. A company’s internal financial conditions, or that the degree of compliance with the
control with reference to standalone financial policies or procedures may deteriorate.
statements includes those policies and procedures
that (1) pertain to the maintenance of records that, Opinion
in reasonable detail, accurately and fairly reflect In our opinion, to the best of our information and
the transactions and dispositions of the assets of according to the explanations given to us, the
the company; (2) provide reasonable assurance that Company has, in all material respects, an adequate
transactions are recorded as necessary to permit internal financial controls with reference to
preparation of financial statements in accordance standalone financial statements and such internal
with generally accepted accounting principles and financial controls with reference to standalone
that receipts and expenditures of the company are financial statements were operating effectively as at
being made only in accordance with authorisations March 31, 2024 based on the criteria for internal
of management and directors of the company; and (3) financial control with reference to standalone
provide reasonable assurance regarding prevention financial statements established by the Company
or timely detection of unauthorised acquisition, use considering the essential components of internal
or disposition of the company’s assets that could control stated in the Guidance Note on Audit of
have a material effect on the financial statements. Internal Financial Controls Over Financial Reporting
issued by the Institute of Chartered Accountants
Inherent Limitations of Internal Financial of India.
Controls with reference to standalone
financial statements For Deloitte Haskins & Sells
Because of the inherent limitations of internal financial
controls with reference to standalone financial
statements, including the possibility of collusion or Sd/-
improper management override of controls, material Vikas Khurana
misstatements due to error or fraud may occur and (Partner)
not be detected. Also, projections of any evaluation Place: Gurugram (Membership No. 503760)
of the internal financial controls with reference to Date: May 13, 2024 UDIN: 24503760BKFDGV2205
274
Annexure “B” to the Independent Auditors’ Report

(Referred to in paragraph 2 under ‘Report on Other Legal and Regulatory Requirements’ section
In terms of the information and explanations sought (f) No proceedings have been initiated during
by us and given by the Company and the books of the year or are pending against the Company
account and records examined by us in the normal as of March 31, 2024 for holding any benami
course of audit and to the best of our knowledge and property under the Benami Transactions
belief, we state that: (Prohibition) Act, 1988 (as amended in 2016)
(i) (a) The Company has maintained proper records and rules made thereunder.
showing full particulars, including quantitative
(ii) (a) The Company does not have any inventory
details and situation of Property, plant and
equipment and relevant details of right-of-use and hence reporting under clause (ii)(a) of the
assets. Order is not applicable.
(b) The Company has maintained proper records (b) According to the information and explanations
showing full particulars of intangible assets. given to us, at any point of time of the year,
the Company has not been sanctioned any
(c) The Company has a program of verification working capital facility from banks or financial
of property, plant and equipment and right- institutions and hence reporting under clause
to-use assets, as per which IT assets such (ii)(b) of the Order is not applicable.
as (Computers and telephone instrument)
are physically verified once in 2 years and all (iii) The Company has not provided any guarantee or
other assets including right of use assets are security and granted any advances in the nature
physically verified once in 3 years, which, in
of loans, secured or unsecured, to companies,
our opinion, is reasonable having regard to
firms, Limited Liability Partnerships or any other
the size of the Company and the nature of
its assets. Pursuant to the program, some of parties during the year. The Company has made
the IT assets were due for verification during investment in and granted secured/unsecured loans
the year and were physically verified by the to companies during the year, in respect of which:
Management during the year. According to the
information and explanations given to us, no (a) The Company has provided loans during the
material discrepancies were noticed on such year and details of which are given below:
verification. Particulars Loans
(INR in crores)
(d) The Company does not have any immovable
properties including right of use assets and A. Aggregate amount
hence reporting under clause (i)(d) of the Order granted / provided during
is not applicable. the year:
– Subsidiaries 0.1
(e) The Company has not revalued any of its – Others NIL
property, plant and equipment (including Right B. Balance outstanding as
of Use assets) and intangible assets during at balance sheet date in
the year. respect of above cases:
– Subsidiaries NIL
– Others NIL
275
(b) The investments made and conditions of complied with the provisions of section 186 of the
all above mentioned loans provided, during Companies Act, 2013 in respect of grant of loans
the year are, in our opinion, prima facie, not and making investments. The Company has not
prejudicial to the Company’s interest. granted any loans, made investments, or provided
guarantees under Section 185 of the Companies
(c) In respect of loans granted by the Company,
Act 2013.
the schedule of repayment of principal and
payment of interest has been stipulated (v) The Company has not accepted any deposit
and the repayments or receipts of principal or amounts which are deemed to be deposits.
amounts and interest have been regular as per Hence reporting under clause (v) of the Order is
stipulations. not applicable.
(d) In respect of loans granted by the Company, (vi) Having regard to the nature of the Company’s
there is no loan outstanding as at the balance business / activities, reporting under clause (vi)
sheet date. of the Order is not applicable.
(e) No loan or advance in the nature of loan (vii) In respect of statutory dues:
granted by the Company which has fallen due
during the year, has been renewed or extended (a) Undisputed statutory dues, including Goods
or fresh loans granted to settle the overdue of and Services tax, Income-tax, Employees’
existing loans given to the same parties. State Insurance Act, 1948, cess and other
material statutory dues applicable to the
(f) According to information and explanations Company have been regularly deposited
given to us and based on the audit procedures
by it with the appropriate authorities and
performed, the Company has not granted any
the company has generally been regular in
loans or advances in the nature of loans either
depositing provident fund and professional
repayable on demand or without specifying
tax to the appropriate authorities. We have
any terms or period of repayment during the
been informed that the provisions of the
year. Hence, reporting under clause (iii)(f) is
Service Tax, Sales Tax, duty of Excise, duty of
not applicable.
Customs, Value Added Tax are not applicable
(iv) In our opinion and according to the information to the Company.
and explanations given to us, the Company has
There were no material undisputed amounts payable in respect of Goods and Services tax, Professional
tax, Provident Fund, Employees’ State Insurance Act, 1948, Income-tax, cess and other material
statutory dues in arrears as at March 31, 2024 for a period of more than six months from the date they
became payable.
(b) Details of statutory dues referred to in sub-clause (a) above which have not been deposited as on March
31,2024 on account of disputes are given below:
Name of Statute Nature of Dues Amount Period to which Forum where dispute is
(INR in the Amount pending
crores)* Relates
Finance act 1994 Service tax 184 October 2014 - Commissioner, Central
June 2017 Tax, GST Delhi
Goods and Services Goods & Service 2 July 2017 - March Joint Commissioner
Tax Act 2017 Tax 2018 Appeals, Karnataka
276
Name of Statute Nature of Dues Amount Period to which Forum where dispute is
(INR in the Amount pending
crores)* Relates
Goods and Services Goods & Service 12 FY 2018-2021 Additional
Tax Act 2017 Tax Commissioner, CGST
Gurugram
Goods and Services Goods & Service 2 July 2017 - March Joint Commissioner
Tax Act 2017 Tax 2018 Appeals, Delhi
Goods and Services Goods & Service 1 April 2020 - Nov Joint Commissioner
Tax Act 2017 Tax 2022 Appeals, Tamil Nadu
Goods and Services Goods & Service 9 2018-19 Deputy Commissioner

Tax Act 2017 Tax Gujarat
Goods and Services Goods & Service 23 2018-19 Assistant

Tax Act 2017 Tax Commissioner,
Karnataka
Goods and Services Goods & Service 0.4 2019-20 Assistant

Tax Act 2017 Tax Commissioner,
Jharkhand
*Includes interest and penalty as computed in the order
(viii) There were no transactions relating to previously (d) As informed to us, the company has not raised
unrecorded income that were surrendered or any money as short-term fund. Hence, reporting
disclosed as income in the tax assessment under under clause (ix)(d) of the Order is not applicable.
the Income Tax Act, 1956 (43 of 1961) during the
year. (e)
On an overall examination of the financial
statements of the Company, the Company has
(ix) (a) The Company has not taken any loans or other not taken any funds from any entity or person
borrowings from any lender. Hence reporting on account of or to meet the obligations of its
under clause (ix)(a) of the Order is not applicable subsidiary & associate.
to the Company.
(f) The Company has not raised any loans during the
(b) The Company has not been declared willful year and hence reporting on clause (ix)(f) of the
defaulter by any bank or financial institution or Order is not applicable.
government or any government authority.
(x) (a) The Company has not raised moneys by way of
(c) The Company has not taken any term loan during further public offer (including debt instruments)
the year and there are no unutilized term loans during the year.
at the beginning of the year and hence, reporting
under clause (ix)(c) of the Order is not applicable.
277
(b) During the year the Company has not made any (xiv) (a) In our opinion the Company has an adequate
preferential allotment or private placement internal audit system commensurate with the
of shares or convertible debentures (fully or size and the nature of its business.
partly or optionally). In regard to the private
placement of shares made till March 31, 2021 (b)
We have considered, the internal audit
we report that out of some part of unutilised reports issued to the Company during the
funds at the beginning of the year, Prima- year and covering the period from April 2023
facie have been utilised during the year for the to December 2023 as per plan of the Company
purpose for which they were raised and some for the period under audit.
portion of the amount raised which remain
unutilised during the year, have been invested in (xv) In our opinion, during the year the Company has
mutual funds/ Government securities / Bonds not entered into any non-cash transactions
and bank deposits as on March 31, 2024. with its directors or persons connected with its
directors and hence provisions of section 192 of
(xi) (a) To the best of our knowledge, no fraud by the the Companies Act, 2013 are not applicable to the
company and no material fraud on the Company Company.
has been noticed or reported during the year.
(xvi) The Company is not required to be registered
(b) To the best of our knowledge, no report under under section 45-IA of the Reserve Bank of India
sub-section (12) of section 143 of the Companies Act, 1934. Hence, reporting under clause (xvi)(a),
Act has been filed in Form ADT-4 as prescribed (b) and (c) of the Order is not applicable.
under rule 13 of Companies (Audit and Auditors)
Rules, 2014 with the Central Government, during With respect to the Indian entities, the Group
the year and upto the date of this report. does not have any CIC as part of the Group and
accordingly reporting under clause (xvi)(d) of the
(c) We have taken into consideration the whistle Order is not applicable.
blower complaints received by the Company
during the year. (xvii) The Company has not incurred cash losses during
the financial year covered by our audit and the
(xii) The Company is not a Nidhi Company and hence immediately preceding financial year.
reporting under clause (xii) of the Order is not
applicable. (xviii) There has been no resignation of the statutory
auditors of the Company during the year.
(xiii) In our opinion, the Company is in compliance with
Section 177 and 188 of the Companies Act, where (xix) On the basis of the financial ratios, ageing and
applicable, for all transactions with the related expected dates of realization of financial assets and
parties and the details of related party transactions payment of financial liabilities, other information
have been disclosed in the financial statements accompanying the financial statements and
etc. as required by the applicable accounting our knowledge of the Board of Directors and
standards. Management plans and based on our examination
of the evidence supporting the assumptions,
nothing has come to our attention, which causes
278
us to believe that any material uncertainty exists (xx) The company has incurred average net loss in the
as on the date of the audit report indicating that period of three immediately preceding financial
Company is not capable of meeting its liabilities years and hence, it is not required to spend any
existing at the date of balance sheet as and when money under sub-section (5) of section 135 of the
they fall due within a period of one year from the Act. Accordingly, reporting under clause (xx) of the
balance sheet date. We, however, state that this Order is not applicable to the Company for the year.
is not an assurance as to the future viability of
the Company. We further state that our reporting For Deloitte Haskins & Sells
is based on the facts up to the date of the audit Chartered Accountants
report and we neither give any guarantee nor any (Firm’s Registration No. 015125N)
assurance that all liabilities falling due within a Sd/-
period of one year from the balance sheet date, will Vikas Khurana
get discharged by the Company as and when they (Partner)
fall due. Place: Gurugram (Membership No. 503760)
Date: May 13, 2024 UDIN: 24503760BKFDGV2205
279
Standalone Balance Sheet

CIN : L93030DL2010PLC198141
(INR crores)
March 31, 2024 March 31, 2023
Assets
Non-current assets
Property, plant and equipment 3 62 59
Right-of-use assets 32 123 134
Goodwill 4 1,209 1,209
Other intangible assets 4 4 0
Financial assets
Loans 10 - 958
Other financial assets 11 717 1,863
Tax assets (net) 12 176 96
Other non-current assets 13 42 2
Total non-current assets 20,778 13,183
Current assets
Inventories 14 - 0
Financial assets
Investments 6 927 3,832
Trade receivables 7 69 62
Cash and cash equivalents 8 181 123
Bank balances other than cash and cash equivalents 9 278 276
Other financial assets 11 2,015 4,400
Other current assets 13 77 51
Total current assets 3,547 8,744
Total assets 24,325 21,927
Equity and liabilities
Equity
Equity share capital 15(a) 868 836
Other equity 15(b) 21,907 19,970
Total equity 22,775 20,806
Liabilities
Non-current liabilities
Provisions 19 49 57
Total non-current liabilities 156 183
280
Standalone Balance Sheet (Contd.)

CIN : L93030DL2010PLC198141
(INR crores)
March 31, 2024 March 31, 2023
Current liabilities
Trade payables 16
a. total outstanding dues of micro enterprises and small
5 3
enterprises
b. total outstanding dues of creditors other than micro
476 363
enterprises and small enterprises
Other current liabilities 18 304 230
Provisions 19 20 22
Total current liabilities 1,394 938
Total liabilities 1,550 1,121
Total equity and liabilities 24,325 21,927
The accompanying notes are an integral part of the standalone financial statements.

Sd/- Sd/- Sd/-
(DIN-02613583) (DIN-03328890)

Date: May 13, 2024 Date: May 13, 2024
Sd/- Sd/-
281
Standalone Statement of Profit and Loss

CIN : L93030DL2010PLC198141
(INR crores)
March 31, 2024 March 31, 2023
Income
Revenue from operations 20 6,622 4,707
Other income 21 920 800
Total income (I) 7,542 5,507
Expenses
Purchases of stock-in-trade 22 5 1
Changes in inventories of stock-in-trade 23 0 (0)
Employee benefits expense 24 965 1,117
Finance costs 25 18 16
Depreciation and amortisation expenses 26 73 140
Other expenses 27 5,070 4,116
Total expenses (II) 6,131 5,390
Profit before exceptional items and tax (III= I-II) 1,411 117
Exceptional items (IV) 28 39 -
Profit before tax (V= III-IV) 1,372 117
Tax expense : 35
Current tax 1 0
Deferred tax - -
Total tax expense (VI) 1 0
Profit for the year (VII= V-VI) 1,371 117
Other comprehensive income / (loss)

(a) Items that will not be reclassified to profit or loss:
(i) Remeasurements of the defined benefit plans (3) 2
(ii) Equity instruments through other comprehensive
60 (111)
income
Subtotal (VIII) 57 (109)
282
Standalone Statement of Profit and Loss (Contd.)

CIN : L93030DL2010PLC198141
(INR crores)
March 31, 2024 March 31, 2023
(b) Items that will be reclassified to profit or loss:
(i) Exchange differences on translation of foreign
1 8
operations
(ii) Debt instruments through other comprehensive
(8) 0
income
Subtotal (IX) (7) 8
50 (101)
(X=VIII+IX)
Total comprehensive income for the year (XI = VII+X) 1,421 16
Earnings per equity share (INR) (face value of INR 1

each)
(a) Basic 29 1.61 0.14
(b) Diluted 29 1.57 0.13

Sd/- Sd/- Sd/-
(DIN-02613583) (DIN-03328890)

Date: May 13, 2024 Date: May 13, 2024
Sd/- Sd/-
283
Standalone Statement of Change in Equity
CIN : L93030DL2010PLC198141
A. Equity share capital

Shares Issued Shares held by ESOP Trust Total outstanding (A-B)
(A) (Treasury shares) (B)
Equity shares of INR 1 each issued, subscribed and fully paid Number (INR crores) Number (INR crores) Number (INR crores)
As at April 01, 2023 8,55,35,09,770 855 18,95,34,357 19 8,36,39,75,413 836
Add : bonus shares issued during the year (pursuant to exercise of 3,25,03,548 3 - - 3,25,03,548 3
employee stock options)
Less: shares issued by ESOP Trust on exercise of employee stock - - (5,00,05,651) (5) 5,00,05,651 5
Company Overview
options
As at March 31, 2024 8,81,97,83,744 882 13,95,28,706 14 8,68,02,55,038 868
Shares Issued Shares held by ESOP Trust Total outstanding (A-B)

Equity Share Capital (A) (Treasury shares) (B)
Statutory Reports
Equity shares of INR 1 each issued, subscribed and fully paid Number (INR crores) Number (INR crores) Number (INR crores)
As at April 01, 2022 7,87,19,32,776 787 22,89,92,198 23 7,64,29,40,578 764
Add: shares issued during the year (refer note 40) 62,85,30,012 63 - - 62,85,30,012 63
Add : bonus shares issued during the year (pursuant to exercise of 1,28,41,983 1 - - 1,28,41,983 1
employee stock options)
Less: shares issued by ESOP Trust on exercise of employee stock - - (3,94,57,841) (4) 3,94,57,841 4
options
As at March 31, 2023 8,55,35,09,770 855 18,95,34,357 19 8,36,39,75,413 836
284
Financial Statements: Standalone
Standalone Statement of Change in Equity
CIN : L93030DL2010PLC198141
B. Other equity
Description Other equity Total
Capital reserve Share-based Securities Retained Treasury Business Equity Debt instruments Foreign Remeasurements
payment premium earnings shares transfer instruments through other currency of the defined
reserve adjustment through other comprehensive translation benefit plans
reserve comprehensive income reserve
income
As at April 01, 2023 3 1,293 24,710 (6,109) 19 (43) 74 0 30 (7) 19,970

Profit for the year - - - 1,371 - - - - - - 1,371
Other comprehensive income / (loss) - - - - - - 60 (8) 1 (3) 50
Total comprehensive income - - - 1,371 - - 60 (8) 1 (3) 1,421
Company Overview
Add/ (less): transfer on account of exercise of

- (1,125) - 1,125 - - - - - - -
Add: amount collected by ESOP Trust on
- - - 9 - - - - - - 9
exercise of employee stock options (net of tax)
Add: employee stock option expense
- 193 - - - - - - - - 193
allocated to subsidiary companies
- - - (0) - - - - - - (0)
settlement of options (fractional shares)
Statutory Reports
Less: shares issued by ESOP Trust on exercise

- - - - (5) - - - - - (5)
of employee stock options
Less: bonus issue of equity shares (pursuant to
- - (3) - - - - - - - (3)
As at March 31, 2024 3 683 24,707 (3,604) 14 (43) 134 (8) 31 (10) 21,907
285
Standalone Statement of Change in Equity (Contd.)
CIN : L93030DL2010PLC198141
B. Other equity
Capital Share-based Securities Retained Treasury Business Equity Debt instruments Foreign Remeasurements
reserve payment premium earnings shares transfer instruments through other currency of the defined
income
As at April 01, 2022 3 1,125 21,289 (6,418) 23 (43) 10 - 22 (9) 16,002

Profit for the year - - - 117 - - - - - - 117
Other comprehensive income / (loss) - - - - - - (111) 0 8 2 (101)
Total comprehensive income - - - 117 - - (111) 0 8 2 16
Company Overview
Add: transfer to retained earnings

- - - - - - 175 - - - 175
(refer note 33)
Add/ (less): transfer on account of exercise of
- (360) - 360 - - - - - - -
Add: amount collected by ESOP Trust on
- - - 7 - - - - - - 7
exercise of employee stock options (net of tax)
Statutory Reports
Add: employee stock option expense

- 50 - - - - - - - - 50
Add: premium on issue of equity shares - - 3,422 - - - - - - - 3,422
Less: transfer from other comprehensive
- - - (175) - - - - - - (175)
income (refer note 33)
- - - (0) - - - - - - (0)
settlement of options (fractional shares)
Less: shares issued by ESOP Trust on
- - - - (4) - - - - - (4)
286
Standalone Statement of Change in Equity (Contd.)
CIN : L93030DL2010PLC198141
B. Other equity
(INR crores)
Capital Share-based Securities Retained Treasury Business Equity Debt instruments Foreign Remeasurements
reserve payment premium earnings shares transfer instruments through other currency of the defined
income
Less: bonus issue of equity shares (pursuant

- - (1) - - - - - - - (1)
to exercise of employee stock options)
Less: ESOP issuance for unvested ESOPs on
- 22 - - - - - - - - 22
acquisition
As at March 31, 2023 3 1,293 24,710 (6,109) 19 (43) 74 0 30 (7) 19,970
Company Overview

For Deloitte Haskins & Sells For and on behalf of the Board of Directors of Zomato Limited
Firm registration number: 015125N
Statutory Reports
Sd/- Sd/- Sd/- Sd/- Sd/-

Vikas Khurana Deepinder Goyal Kaushik Dutta Akshant Goyal Sandhya Sethia
Partner (Managing Director and (Chairman and (Chief Financial Officer) (Company Secretary)
Membership No. 503760 Chief Executive Officer) Independent Director) (PAN No. AIVPG9914G) (A-29579)
(DIN-02613583) (DIN-03328890)
Place: Gurugram Place: Gurugram Place: Gurugram Place: Gurugram Place: Gurugram
Date: May 13, 2024 Date: May 13, 2024 Date: May 13, 2024 Date: May 13, 2024 Date: May 13, 2024
287
Standalone Statement of Cash Flows

CIN : L93030DL2010PLC198141
(INR crore)
March 31, 2024 March 31, 2023
A) Cash flows from operating activities
Profit before tax 1,372 117
Adjustment to reconcile profit before tax to net cash
flows
Liabilities written back (4) (10)
Depreciation on property, plant and equipment and
72 60
depreciation on right-of-use assets
Net gain on mutual funds (80) (79)
Provision/(reversal) for impairment in value of investment
39 -
in subsidiaries
Interest income on government securities (107) (67)
Interest income on debentures or bonds (320) (0)
Amortisation of premium / (discount) on government
(41) 14
securities
Amortisation of premium / (discount) on bonds 0 -
Share based payment expense 322 455
Interest expense 0 -
Profit on sale of property, plant and equipment (net) (1) (1)
Interest income on bank deposits and others (186) (560)
Interest income on income tax refund - (4)
Gain on disposal of investment (6) -
Operating profit before working capital changes 1,126 29
Movements in working capital :
- Trade receivables (13) 104
- Other financial assets (17) (168)
- Other assets (73) 14
- Inventory 0 (0)
- Other financial liabilities 257 253
- Provisions (13) 11
- Other liabilities 78 33
- Trade payables 115 (25)
Cash generated from operations 1,460 251
Income taxes refund / (paid) (net) (81) (27)
Net cash generated from operating activities (A) 1,379 224
288
Standalone Statement of Cash Flows (Contd.)

CIN : L93030DL2010PLC198141
(INR crore)
March 31, 2024 March 31, 2023
B) Cash flows from investing activities
Purchase of property, plant and equipment (including
capital work in progress, capital advances and capital (38) (58)
creditors)
Proceeds from sale of property, plant and equipment 1 1
Investments in bank deposits (having maturity of more than
(1,368) (4,386)
3 months)
Proceeds from maturity of bank deposits (having maturity
5,185 8,150
of more than 3 months)
Proceeds from redemption of mutual fund units 23,145 9,555
Investment in mutual fund units (20,995) (10,760)
Investment in government securities (2,420) (565)
Proceeds from maturity of government securities 935 -
Investment in debentures or bonds (5,772) (50)
Loan given (0) (1,008)
Loan received back 958 425
Investment in subsidiaries (1,537) (2,278)
Disposal of investment in subsidiary company 6 -
Interest received 599 592
Net cash generated from / (used in) investing activities (B) (1,301) (382)
C) Cash flows from financing activities

Proceeds from issue of equity shares 23 4
Transaction cost on issue of shares (0) (0)
Share based payment on cash settlement of option
(0) (0)
(fractional shares)
Amount collected by ESOP trust on exercise of employee
9 7
stock options (net of tax)
Payment of principal portion of lease liabilities (36) (11)
Interest paid (0) -
Payment of interest portion of lease liabilities (16) (14)
Net cash generated / from (used in) financing activities (C) (20) (14)
Net increase / (decrease) in cash and cash equivalents

58 (172)
(A+B+C)
Net foreign exchange difference 0 1
Cash and cash equivalents at beginning of the year 123 294
Cash and cash equivalents as at end of the year (refer
181 123
Note 8)
289
Standalone Statement of Cash Flows (Contd.)

CIN : L93030DL2010PLC198141
(INR crore)
March 31, 2024 March 31, 2023
Components of cash and cash equivalents as at end of the year

– Deposits with original maturity of less than three months - 2
Total cash and cash equivalents as per Note 8 181 123
Non-cash investing transactions

Deemed investment for employee stock option expense
1 6

Sd/- Sd/- Sd/-
(DIN-02613583) (DIN-03328890)

Date: May 13, 2024 Date: May 13, 2024
Sd/- Sd/-
290
Material Accounting Policies to the Standalone

CIN : L93030DL2010PLC198141
1 Corporate Information This note provides a list of the material accounting

policies adopted in the preparation of these
Zomato Limited (“Zomato” or “the Company”) (including
standalone financial statements.
trust and branches) primarily operates as an internet
portal which helps in connecting the Users, Restaurant The standalone financial statements are presented in
Partners and the Delivery Partners. It also provides Indian Rupees “INR” or “`” and all amounts disclosed
a platform to the Restaurant Partners to advertise in the standalone financial statements have been
themselves to the target audience in India and abroad. rounded off to the nearest crores (as per requirement
The Company is incorporated and domiciled in India of Schedule III), unless otherwise stated. Further,
under the provisions of the Companies Act applicable in amounts which are less than half a crores is appearing
India. The Company is listed on National Stock Exchange as “0”.
of India Limited and BSE Limited. The registered office of
2.2 Summary of material accounting
the Company is located at GF – 12A, 94, Meghdoot, Nehru
policies
Place, New Delhi - 110019.
i. Use of estimates
The standalone financial statements for the year ended The preparation of standalone financial statements
March 31, 2024, were approved by the Board of Directors in conformity with principles of Ind AS requires the
and authorised for issue on May 13, 2024. management to make judgements, estimates and
assumptions that effect the reported amounts of
2 Basis of preparation of standalone revenues, expenses, assets and liabilities and the
financial statements and material disclosure of contingent liabilities, at the end of the
accounting policies reporting year. Although these estimates are based on
the management’s best knowledge of current events
2.1 Basis of preparation and actions, uncertainty about these assumptions
These standalone financial statements have been and estimates could result in the outcomes requiring
prepared in accordance with Indian Accounting a material adjustment to the carrying amounts of
Standard (Ind AS) prescribed under Section 133 of assets or liabilities in future years.
Companies Act, 2013 (the “Act”), read with rule 3 of the
Companies (Indian Accounting Standards) Rules, 2015 The estimates and underlying assumptions are
and relevant amendments rules issued thereunder. reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the year in which the
The standalone financial statements have been estimate is revised if the revision affects only that
prepared on the historical cost basis, except for year, or in the year of the revision and future years
the following assets and liabilities which have been if the revision affects both current and future years.
measured at fair value:
In particular, information about the significant areas
• Certain financial assets and liabilities measured of estimation, uncertainty and critical judgements
at fair value (refer accounting policy regarding in applying accounting policies that have the most
financial instruments); significant effect on the amounts recognised in the
standalone financial statements are disclosed in note
• Defined benefits plan - plan assets measured at
no 2.3.
fair value;
• Share based payments
291

CIN : L93030DL2010PLC198141
ii. Business combinations and goodwill • Held primarily for the purpose of trading;
Business combinations are accounted as follows:
• Expected to be realised within twelve months
Business combinations (other than common control after the reporting year, or
business combinations) - Acquisition Method • Cash or cash equivalent unless restricted from
being exchanged or used to settle a liability for at
The cost of an acquisition is measured as the
least twelve months after the reporting year.
aggregate of the consideration transferred measured
at acquisition date fair value and the amount of any All other assets are classified as non-current.
non-controlling interests in the acquiree.
A liability is current when:
At the acquisition date, the identifiable assets
• It is expected to be settled in normal operating
acquired and the liabilities assumed are recognised
cycle
at their acquisition date fair values (except certain
assets and liabilities which are required to be • It is held primarily for the purpose of trading
measured as per the applicable standard). For this
purpose, the liabilities assumed include contingent • It is due to be settled within twelve months after
liabilities representing present obligation and they are the reporting year, or
measured at their acquisition fair values irrespective • There is no unconditional right to defer the
of the fact that outflow of resources embodying settlement of the liability for at least twelve
economic benefits is not probable. months after the reporting year.
For each business combination, the Company elects The Company classifies all other liabilities as non-
whether to measure the non-controlling interests current.
in the acquiree at fair value or at the proportionate
share of the acquiree’s identifiable net assets. Deferred tax assets and liabilities are classified as
non-current assets and liabilities.
Acquisition-related costs are expensed as incurred.
The operating cycle is the time between the acquisition
When the Company acquires a business, it assesses of assets for processing and their realisation in cash
the financial assets and liabilities assumed for and cash equivalents. The Company has identified
appropriate classification and designation in twelve months as its operating cycle.
accordance with the contractual terms, economic iv. Foreign currencies
circumstances and pertinent conditions as at the The Company’s standalone financial statements are
acquisition date. presented in Indian rupees, which is the Company’s
functional currency.
iii. Current versus non-current classification
The Company presents assets and liabilities in The financial statements of each of the foreign
the balance sheet based on current/ non-current operations (‘branches’) are measured using the
classification. An asset is treated as current when currency of the primary economic environment in
it is: which the branches forming part of Company operates
(“functional currency”). The functional currency is
• Expected to be realised or intended to be sold or
normally the currency in which the foreign branches
consumed in normal operating cycle;
primarily generate and spends cash.
292

CIN : L93030DL2010PLC198141
Transactions and balances • In the absence of a principal market, in the most
Transactions in foreign currencies are initially advantageous market for the asset or liability.
recorded in the functional currencies using the spot
The principal or the most advantageous market must
rates at the date when the transaction first qualifies
be accessible by the Company.
for recognition. However, for practical reasons,
the Company uses an average rate if the average The fair value of an asset or a liability is measured
approximates the actual rate at the date of the using the assumptions that market participants
transaction. would use when pricing the asset or liability, assuming
that market participants act in their economic best
Monetary assets and liabilities denominated in foreign interest.
currencies are translated at the functional currency
spot rates of exchange at the reporting date. A fair value measurement of a non-financial asset
takes into account a market participant’s ability to
Exchange differences arising on settlement or generate economic benefits by using the asset in its
translation of monetary items are recognised in profit highest and best use or by selling it to another market
or loss. participant that would use the asset in its highest and
best use.
Non-monetary items that are measured in terms of
historical cost in a foreign currency are translated The Company uses valuation techniques that are
using the exchange rates at the dates of the initial appropriate in the circumstances and for which
transactions. sufficient data are available to measure fair value,
maximizing the use of relevant observable inputs and
Foreign Operations (‘branches’) minimizing the use of unobservable inputs.
On consolidation, the assets and liabilities of foreign
All assets and liabilities for which fair value is
operations are translated into Indian rupees at the
measured or disclosed in the standalone financial
rate of exchange prevailing at the reporting date
statements are categorised within the fair value
and their statements of profit or loss are translated
hierarchy, described as follows, based on the
at exchange rates prevailing at the dates of the
lowest level input that is significant to the fair value
transactions. For practical reasons, the Company
measurement as a whole:
uses an average rate to translate income and
expense items. The exchange differences arising on • Level 1: Quoted (unadjusted) market prices in
translation for consolidation are recognised in OCI. active markets for identical assets or liabilities.
On disposal of a foreign operation, the component of • Level 2: Valuation techniques for which the lowest
OCI relating to that foreign operation is recognised in level input that is significant to the fair value
profit or loss. measurement is directly or indirectly observable.
v. Fair value measurement • Level 3: Valuation techniques for which the lowest
Fair value is the price that would be received to sell level input that is significant to the fair value
an asset or paid to transfer a liability in an orderly measurement is unobservable.
transaction between market participants at the For assets and liabilities that are recognized in the
measurement date. The fair value measurement is standalone financial statements on a recurring
based on the presumption that the transaction to sell basis, the Company determines whether transfers
the asset or transfer the liability takes place either: have occurred between levels in the hierarchy by re-
• In the principal market for the asset or liability, or assessing categorization (based on the lowest level
293

CIN : L93030DL2010PLC198141
input that is significant to the fair value measurement Improvements to leasehold assets not owned by
as a whole) at the end of each reporting year. the Company are amortized over the lease year
or estimated useful life of such improvements,
For the purpose of fair value disclosures, the Company
whichever is lower.
has determined classes of assets and liabilities on
the basis of the nature, characteristics and risks of The management has estimated the useful lives and
the asset or liability and the level of the fair value residual values of all property, plant and equipment
hierarchy as explained above. and adopted useful lives based on management’s
vi. Property, plant and equipment technical assessment of their respective economic
Property, plant and equipment (“PPE”) are stated at useful lives. The residual values, useful lives and
cost, less accumulated depreciation and accumulated methods of depreciation of property, plant and
impairment loss, if any. Such cost includes the equipment are reviewed at each financial year end
expenditure directly attributable to bringing the and adjusted prospectively (if any).
asset to the location and condition necessary for it
Depreciation on the assets purchased during the
to be capable of operating in the manner intended by
year is provided on pro-rata basis from the date of
management.
purchase of the assets. Individual assets costing
Subsequent costs on a PPE are included in the asset’s less than INR 5,000 are fully depreciated in the year
carrying amount only when it is probable that future of purchase.
economic benefits associated with the item will
flow to the Company and the cost of the item can An item of property, plant and equipment and any
be measured reliably. The carrying amount of any significant part initially recognized is derecognised
component accounted for as a separate asset is upon disposal or when no future economic benefits
derecognised when replaced. Rest of the subsequent are expected from its use or disposal. Any gain or loss
costs are charged to the statement of profit and loss arising on derecognition of the asset (calculated as
in the reporting period in which they are incurred. the difference between the net disposal proceeds and
the carrying amount of the asset) is included in the
Capital work in progress is stated at cost, net of income statement when the asset is derecognized.
accumulated impairment loss, if any.
vii. Goodwill and other intangible assets
Depreciation on all property plant and equipment Goodwill represents the cost of acquired business as
are provided on a straight-line method based on the established at the date of acquisition of the business
estimated useful life of the asset, which is as follows: in excess of the acquirer’s interest in the net fair value
Property, plant and Useful Useful lives of the identifiable assets, liabilities and contingent
equipment lives as per estimated by liabilities less accumulated impairment losses, if any.
Schedule II management Goodwill is tested for impairment annually or when
events or circumstances indicate that the implied fair
Air Conditioner 5 years 3 years
value of goodwill is less than the carrying amount.
Electrical Equipment’s 10 years 3 years
Furniture & Fittings 10 years 3 years Intangible assets acquired separately are measured
Computers 3 years 2 years on initial recognition at cost. The cost of intangible
Motor Vehicles 8 years 8 years assets acquired in a business combination is their fair
value at the date of acquisition.
Telephone Instruments 5 years 2 years
294

CIN : L93030DL2010PLC198141
Following initial recognition, intangible assets are Non-compete which are amortized on a straight-
carried at cost less any accumulated amortization and line basis over their estimated useful life which is as
accumulated impairment losses. Internally generated follows:
intangibles, excluding capitalized development costs,
Nature of Assets Life
are not capitalized and the related expenditure is
reflected in profit or loss in the year in which the Brand 2 -3 years
expenditure is incurred. Technology platform 5 years
Trademarks 5 years
The useful lives of intangible assets are assessed as
Non-Compete 3 years
either finite or indefinite.
The amortization year and method are reviewed
Software and websites (other than those acquired in at least at each financial year end. If the expected
business combination) with finite lives are amortized useful life of the asset is significantly different from
on a straight-line basis over the estimated useful previous estimates, the amortization year is changed
economic life being 1-3 years. All Intangible assets accordingly.
(other than goodwill) are assessed for impairment
whenever there is an indication that the intangible viii. Leases
asset may be impaired. The useful life and the he Company assesses at contract inception whether
T
amortization method for an intangible asset with a contract is, or contains, a lease. That is, if the
a finite useful life are reviewed at least at the end contract conveys the right to control the use of an
of each reporting year. Changes in the expected identified asset for a year of time in exchange for
useful life or the expected pattern of consumption consideration.
of future economic benefits embodied in the asset
are considered to modify the amortization year or Company as a lessee
method, as appropriate and are treated as changes in The Company applies a single recognition and
accounting estimates. The amortization expense on measurement approach for all leases, except for
intangible assets with finite lives is recognized in the short-term leases and leases of low-value assets. The
statement of profit and loss unless such expenditure Company recognizes lease liabilities to make lease
forms part of carrying value of another asset. payments and right-of-use assets representing the
right to use the underlying assets.
An intangible asset is derecognized upon disposal
(i.e., at the date the recipient obtains control) or Right-of-use assets
when no future economic benefits are expected from The Company recognizes right-of-use assets at the
its use or disposal. Any gains or losses arising from commencement date of the lease (i.e., the date the
derecognition of an intangible asset are measured as underlying asset is available for use). Right-of-use
the difference between the net disposal proceeds and assets are measured at cost, less any accumulated
the carrying amount of the asset and are recognized depreciation and accumulated impairment losses and
in the statement of profit or loss when the asset is adjusted for any remeasurement of lease liabilities.
derecognized. The cost of right-of-use assets includes the amount
of lease liabilities recognized, initial direct costs
Intangible assets acquired in business combination, incurred and lease payments made at or before
include brand, technology platform, trademarks and the commencement date less any lease incentives
295

CIN : L93030DL2010PLC198141
received. Right-of-use assets are depreciated on a In addition, the carrying amount of lease liabilities
straight-line basis over the shorter of the lease term is remeasured if there is a modification, a change in
and the estimated useful lives of the assets. The the lease term, a change in the lease payments (e.g.,
Company has lease contracts for office premises changes to future payments resulting from a change
having a lease term ranging from 1-9 years. in an index or rate used to determine such lease
payments) or a change in the assessment of an option
If ownership of the leased asset transfers to to purchase the underlying asset.
the Company at the end of the lease term or the
cost reflects the exercise of a purchase option, Short-term leases and leases of low-value assets
depreciation is calculated using the estimated useful The Company applies the short-term lease recognition
life of the asset. exemption to its short-term leases of machinery and
equipment (i.e., those leases that have a lease term of
The right-of-use assets are also subject to 12 months or less from the commencement date and
impairment. Refer to the accounting policies in do not contain a purchase option). It also applies the
section (xvii) Impairment of non-financial assets. lease of low-value assets recognition exemption to
leases of office equipment that are considered to be
Lease liabilities low value. Lease payments on short-term leases and
At the commencement date of the lease, the Company leases of low-value assets are recognized as expense
recognizes lease liabilities measured at the present on a straight-line basis over the lease term.
value of lease payments to be made over the lease
term. The lease payments include fixed payments ix. Inventories
(including in substance fixed payments) less any lease Inventories are valued at lower of cost and net
incentives receivable, variable lease payments that realisable value. Cost is determined on first in first
depend on an index or a rate and amounts expected out basis. Inventory cost includes purchase price
to be paid under residual value guarantees. The lease and other directly attributable costs (such as taxes
payments also include the exercise price of a purchase other than those subsequently recovered from the
option reasonably certain to be exercised by the tax authorities), freight inward and other related
Company and payments of penalties for terminating incidental expenses incurred in bringing the inventory
the lease, if the lease term reflects the Company to its present condition and location.
exercising the option to terminate. Variable lease
Net realisable value is the estimated selling price in
payments that do not depend on an index or a rate
the ordinary course of business less estimated cost
are recognized as expenses (unless they are incurred
necessary to make the sale.
to produce inventories) in the year in which the event
or condition that triggers the payment occurs. x. Revenue recognition
The Company generates revenue from online food
In calculating the present value of lease payments, delivery transactions, advertisements, subscriptions,
the Company uses its incremental borrowing rate at sale of traded goods and other platform services.
the lease commencement date because the interest
rate implicit in the lease is not readily determinable. Revenue towards satisfaction of a performance
After the commencement date, the amount of lease obligation is measured at the amount of transaction
liabilities is increased to reflect the accretion of price (net of variable consideration) allocated towards
interest and reduced for the lease payments made. that performance obligation. The transaction price
296

CIN : L93030DL2010PLC198141
of goods sold and services rendered is net of any service provided. The Company has concluded that
taxes collected from customers, which is remitted it does not control the goods or service provided by
to government authorities and variable consideration the Restaurants.
on account of various discounts and rebates offered
The Company recognises the commission revenues
by the Company. The transaction price is an amount
earned from Restaurant Partners on a point of time
of consideration to which the entity expects to
basis.
be entitled in exchange for transferring promised
goods or services. Consideration includes goods or Incentives
services contributed by the customer, as non-cash The Company provides various types of incentives to
consideration, over which Company has control. the users to promote the transactions on its platform.
Where performance obligation is satisfied over time,
the Company recognizes revenue over the contract In most of the cases, the Company is not responsible
period. Where performance obligation is satisfied for services to the user or does not receive
at a point in time, the Company recognizes revenue consideration from the user. In such cases, the
when customer obtains control of promised goods Company does not consider the User as a customer
and services in the contract. and hence the incentives paid to Users are recorded
as expenses. Further, the Company does not consider
Platform services and transactions User as a customer of the Restaurant Partner for the
The Company operates as an internet portal connecting services provided by the Company, as the Company
the Users, Restaurant Partners and the Delivery is not providing the goods and services of Restaurant
Partners. The Company has separate contractual Partner. In case where Company has considered the
arrangement with the User, Restaurant Partners and users as a customer, the incentives paid to users are
the Delivery Partners respectively which specify the netted off in revenue against the amount charged
rights and obligations of each of the parties. A user from the users.
initiates the transaction which requires acceptance
from the Restaurant Partner and Delivery Partner. Advertisement revenue
The acceptance of the transaction, combined with the Advertisement revenue is derived principally from
contractual agreement creates enforceable rights and the sale of online advertisements which is usually run
obligations for each of the parties. over a contracted period of time. The revenue from
advertisements is thus recognised over this contract
Identification of customer period as the performance obligation is met over the
The Company considers a party to be a customer if contract period. There are some contracts where in
a) it is providing any services to the party and b) is addition to the contract period, the Company assures
receiving any consideration from the party. Based certain clicks/impressions (which are generated each
on the contractual arrangement, the Restaurant time viewers on our platform clicks/views through the
Partners are considered as customers. The users are advertiser’s advertisement on the platform) to the
considered customers in limited circumstances when advertisers. In these cases, the revenue is recognised
a specific service fee is charged to the user. when both the conditions of time period and number
of clicks/impressions assured are met.
Service provided by Restaurant Partners and
commission income: Subscription revenue
The Company considers itself as a principal in an Revenues from subscription contracts are recognized
arrangement only when it controls the goods or over the subscription period on systematic basis in
297

CIN : L93030DL2010PLC198141
accordance with terms of agreement entered into The Company recognizes a contract asset when there
with customer. exists a right to receive consideration in exchange for
goods or services already transferred to the customer
Sign-up revenue which is conditional on something other than passage
The Company receives a sign-up amount from its of time (e.g. The Company’s future performance
restaurant partners and delivery partners. These obligation).
are recognised on receipt or over a period of time in
accordance with terms of agreement entered into Trade receivables
with such relevant partner. A receivable represents the Company’s right to an
amount of consideration that is unconditional (i.e.,
Delivery facilitation services only the passage of time is required before payment
The Company is a technology platform provider of the consideration is due).
enabling delivery partners to provide their delivery
Contract liabilities
services to the Restaurant Partners/Users and may
The Company recognizes a contract liability for an
charge a fee for providing the platform services to
obligation to transfer goods or services to a customer
Delivery Partners which is recognised as revenue
for which the Company has received consideration (or
on a point in time basis. The Company has no control
the amount is due) from the customer.
over the delivery services provided by the delivery
partners. xi. Retirement and other employee benefits
Retirement benefit in the form of provident fund and
Sale of traded goods social security is a defined contribution scheme.
Revenue is recognized to depict the transfer of control The Company has no obligation, other than the
of promised goods to merchants upon the satisfaction contribution payable to the provident fund/social
of performance obligation under the contract in an security. The Company recognizes contribution
amount that reflects the consideration to which the payable to the provident fund scheme/ social security
entity expects to be entitled in exchange for those scheme as an expense, when an employee renders
goods. Consideration includes goods contributed by the related service. If the contribution payable to
the customer, as non-cash consideration, over which the scheme for service received before the balance
entity has control. sheet date exceeds the contribution already paid,
the deficit payable to the scheme is recognized as
The amount of consideration disclosed as revenue is a liability after deducting the contribution already
net of variable considerations like incentives or other paid. If the contribution already paid exceeds the
items offered to the customers. contribution due for services received before the
balance sheet date, then excess is recognized as an
Interest
asset (representing a reduction in future payment or
Interest income is recognized using the effective a cash refund).
interest method. Interest income is included under
the head “other income” in the statement of profit and In case of other foreign branches, contributions
loss. are made as per the respective country laws and
regulations. The same is charged to statement of
Contract balances: profit and loss on accrual basis. There is no obligation
Contract assets beyond the Company’s contribution.
298

CIN : L93030DL2010PLC198141
The Company operates a defined benefit gratuity plan xii. Taxes

in India and United Arab Emirates. Current income tax
Current income tax assets and liabilities are measured
The cost of providing benefits under the defined at the amount expected to be recovered from or paid
benefit plan is determined using the projected unit to the taxation authorities. The tax rates and tax
credit method. laws used to compute the amount are those that are
enacted or substantively enacted, at the reporting
Remeasurements, comprising of actuarial gains date in the countries where the Company operates
and losses, excluding amounts included in net and generates taxable income.
interest on the net defined benefit liability are
recognized immediately in the statement of assets Current income tax relating to items recognised
and liabilities with a corresponding debit or credit outside profit or loss is recognised outside profit
or loss (either in other comprehensive income
to OCI in the year in which they occur. They are then
or in equity). Current tax items are recognised in
accumulated in a separate reserve. Remeasurements
correlation to the underlying transaction either in
are not reclassified to statement of profit or loss in
OCI or directly in equity. Management yearly evaluates
subsequent years. positions taken in the tax returns with respect to
situations in which applicable tax regulations are
The Company recognises the following changes in the
subject to interpretation and establishes provisions
net defined benefit obligation as an expense in the
where appropriate.
statement of profit and loss:
Advance taxes and provisions for current income
•
Service costs comprising current service taxes are presented in the balance sheet after off-
costs, past-service costs, gains and losses on setting advance tax paid and income tax provision
curtailments and non- routine settlements; and arising in the same tax jurisdiction and where the
relevant tax paying units intends to settle the asset
• Net interest expense and liability on a net basis.
Compensated Absences Deferred taxes

The liabilities for earned leaves which are not expected Deferred tax is provided using the liability method
to be settled wholly within 12 months after the end of on temporary differences between the tax bases of
the period in which the employees render the related assets and liabilities and their carrying amounts for
service. These obligations are therefore measured as financial reporting purposes at the reporting date.
the present value of expected future payments to be
Deferred tax liabilities are recognised for all taxable
made in respect of services provided by employees
temporary differences, except:
up to the end of the reporting period by actuaries
using the projected unit credit method. The benefits • When the deferred tax liability arises from the
are discounted using the market yields at the end of initial recognition of goodwill or an asset or liability
the reporting year that have terms approximating to in a transaction that is not a business combination
the terms of the related obligation. Remeasurements and, at the time of the transaction, affects neither
as a result of experience adjustments and changes the accounting profit nor taxable profit or loss and
in actuarial assumptions are recognised in Profit does not give rise to equal taxable and deductible
and loss. temporary differences.
299

CIN : L93030DL2010PLC198141
• In respect of taxable temporary differences Deferred tax assets and liabilities are measured at the
associated with investments in subsidiaries, tax rates that are expected to apply in the year when
when the timing of the reversal of the temporary the asset is realised or the liability is settled, based
differences can be controlled and it is probable on tax rates (and tax laws) that have been enacted or
that the temporary differences will not reverse in substantively enacted at the reporting date.
the foreseeable future. Deferred tax relating to items recognised outside
profit or loss is recognised outside profit or loss
eferred tax assets are recognised for all deductible
D
(either in other comprehensive income or in equity).
temporary differences, the carry forward of unused
Deferred tax items are recognised in correlation to
tax credits and any unused tax losses. Deferred tax
the underlying transaction either in OCI or directly in
assets are recognised to the extent that it is probable equity.
that taxable profit will be available against which
the deductible temporary differences and the carry Deferred tax assets and deferred tax liabilities are
forward of unused tax credits and unused tax losses offset if a legally enforceable right exists to set off
can be utilised, except: current tax assets against current tax liabilities and
the deferred taxes relate to the same taxable entity
• When the deferred tax asset relating to the and the same taxation authority.
deductible temporary difference arises from
the initial recognition of an asset or liability in a
xiii. Share based payment
Employees (including senior executives) of the
transaction that is not a business combination
Company receive remuneration in the form of share-
and, at the time of the transaction, affects neither
based payments, whereby employees render services
the accounting profit nor taxable profit or loss and as consideration for equity instruments (equity-
does not give rise to equal taxable and deductible settled transactions).
temporary differences.
The cost of equity-settled transactions is determined
• In respect of deductible temporary differences by the fair value at the date when the grant is made
associated with investments in subsidiaries, using an appropriate valuation model.
deferred tax assets are recognised only to the
extent that it is probable that the temporary That cost is recognized, together with a corresponding
differences will reverse in the foreseeable future increase in share-based payment (SBP) reserves in
equity, over the year in which the performance and/or
and taxable profit will be available against which
service conditions are fulfilled in employee benefits
the temporary differences can be utilized.
expense. The cumulative expense recognized for
The carrying amount of deferred tax assets is reviewed equity-settled transactions at each reporting date
until the vesting date reflects the extent to which the
at each reporting date and reduced to the extent that
vesting period has expired and the Company’s best
it is no longer probable that sufficient taxable profit
estimate of the number of equity instruments that
will be available to allow all or part of the deferred
will ultimately vest. The statement of profit and loss
tax asset to be utilised. Unrecognised deferred tax expense or credit for a year represents the movement
assets are re-assessed at each reporting date and are in cumulative expense recognized as at the beginning
recognised to the extent that it has become probable and end of that year and is recognized in employee
that future taxable profits will allow the deferred tax benefits expense.
asset to be recovered.
300

CIN : L93030DL2010PLC198141
Service and non-market performance conditions xiv. Earnings per share

are not taken into account when determining the Basic earnings per share are calculated by dividing
grant date fair value of awards, but the likelihood the net profit or loss for the year attributable to equity
of the conditions being met is assessed as part shareholders (after deducting preference dividends
of the Company’s best estimate of the number of and attributable taxes) by the weighted average
equity instruments that will ultimately vest. Market number of equity shares, compulsorily convertible
performance conditions are reflected within the cumulative preference shares and compulsorily
grant date fair value. Any other conditions attached convertible preference share outstanding during the
to an award, but without an associated service year.
requirement, are considered to be non-vesting
conditions. Non-vesting conditions are reflected in For the purpose of calculating diluted earnings per
share, the net profit or loss for the year attributable to
the fair value of an award and lead to an immediate
equity shareholders of the Company and the weighted
expensing of an award unless there are also service
average number of shares outstanding during the year
and/or performance conditions.
are adjusted for the effects of all dilutive potential
No expense is recognized for awards that do not equity shares.
ultimately vest because non-market performance
xv. Provisions and Contingent liabilities
and/or service conditions have not been met. Where
awards include a market or non-vesting condition, Provisions
the transactions are treated as vested irrespective Provisions are recognized when the Company has a
of whether the market or non-vesting condition is present obligation (legal or constructive) as a result of
satisfied, provided that all other performance and/or a past event, it is probable that an outflow of resources
service conditions are satisfied. embodying economic benefits will be required to
settle the obligation and a reliable estimate can be
When the terms of an equity-settled award are made of the amount of the obligation. The expense
modified, the minimum expense recognized is the relating to a provision is presented in the statement
expense had the terms had not been modified, if the of profit and loss net of any reimbursement.
original terms of the award are met. An additional
If the effect of the time value of money is material,
expense is recognized for any modification that
provisions are discounted using a current pre-tax rate
increases the total fair value of the share-based
that reflects, when appropriate, the risks specific to
payment transaction, or is otherwise beneficial to the
the liability. When discounting is used, the increase in
employee as measured at the date of modification.
the provision due to the passage of time is recognized
For cancelled options, the payment made to the as a finance cost.
employee shall be accounted for as a deduction
Contingent Liabilities
from equity, except to the extent that the payment
Contingent liability is a possible obligation that arises
exceeds the fair value of the equity instruments of
from past events and the existence of which will be
the Company, measured at the cancellation date. Any confirmed only by the occurrence or non-occurrence
such excess from the fair value of equity instrument of one or more uncertain future events not wholly
shall be recognized as an expense. within the control of the Company, or is a present
obligation that arises from past event but is not
The dilutive effect of outstanding options is reflected
recognized because either it is not probable that an
as additional share dilution in the computation of
outflow of resources embodying economic benefits
diluted earnings per share.
301

CIN : L93030DL2010PLC198141
will be required to settle the obligation, or a reliable The Company’s business model for managing
estimate of the amount of the obligation cannot be financial assets refers to how it manages its financial
made. Contingent liabilities are disclosed and not assets in order to generate cash flows. The business
recognized. model determines whether cash flows will result
from collecting contractual cash flows, selling the
xvi. Financial instruments financial assets, or both. Financial assets classified
A financial instrument is any contract that gives rise and measured at amortised cost are held within a
to a financial asset of one entity and a financial liability business model with the objective to hold financial
or equity instrument of another entity. assets in order to collect contractual cash flows while
financial assets classified and measured at fair value
Financial assets through OCI are held within a business model with the
Initial recognition and measurement: objective of both holding to collect contractual cash
Financial assets are classified, at initial recognition, flows and selling.
as subsequently measured at amortised cost, fair
value through other comprehensive income (OCI) and Purchases or sales of financial assets that require
fair value through profit or loss. The classification of delivery of assets within a time frame established by
financial assets at initial recognition depends on the regulation or convention in the market place (regular
financial asset’s contractual cash flow characteristics way trades) are recognised on the trade date, i.e., the
and the Company’s business model for managing date that the company commits to purchase or sell
them. the asset.
All financial assets are recognised initially at fair value Subsequent Measurement
plus, (in the case of financial assets not recorded at Debt instruments
fair value through consolidated statement of profit Subsequent measurement of debt instruments
or loss) transaction costs that are attributable to depends on the Company’s business model for
the acquisition of the financial asset. Transaction managing the asset and the cash flow characteristics
costs of financial assets carried at fair value through of the asset. There are three measurement
profit or loss are expensed off in the statement of categories into which the Company classifies its debt
profit & loss. Trade receivable that does not contain instruments:
a significant financing component are measured at
transaction price. A mortised cost: Assets that are held for
•
collection of contractual cash flows those cash
In order for a financial asset to be classified and flows represent solely payments of principal and
measured at amortised cost or fair value through interest are measured at amortised cost. Interest
OCI, it needs to give rise to cash flows that are ‘solely income from these financial assets is included in
payments of principal and interest (SPPI)’ on the finance income using the effective interest rate
principal amount outstanding. This assessment is method. Any gain or loss arising on derecognition
referred to as the SPPI test and is performed at an and impairment losses (if any) are recognised
instrument level. Financial assets with cash flows directly in profit or loss. The Company’s financial
that are not SPPI are classified and measured at assets subsequently measured at amortised cost
fair value through profit or loss, irrespective of the includes trade receivables, loans and certain
business model. other financial assets etc.
302

CIN : L93030DL2010PLC198141
Fair value through other comprehensive income

• investment in equity and preference instruments not
(FVOCI): Assets that are held for collection held for trading in other comprehensive income.
of contractual cash flows and for selling the
financial assets, where the assets’ cash flows Derecognition
represent solely payments of principal and A financial asset (or, where applicable, a part of a
interest, are measured at FVOCI. Movements in financial asset or part of a group of similar financial
assets) is primarily derecognised (i.e. removed from
the carrying amount are taken through OCI except
the Company’s summary statements of assets and
for the recognition of impairment gains or losses,
liabilities) when:
interest income and foreign exchange gains and
losses which are recognised in profit and loss. • The rights to receive cash flows from the asset
When the financial asset is derecognised, the have expired, or
cumulative gain or loss previously recognised in
OCI is reclassified from equity to profit or loss. • The Company has transferred its rights to receive
cash flows from the asset or has assumed an
• air value through profit or loss: Assets that
F obligation to pay the received cash flows in full
do not meet the criteria for amortised cost or without material delay to a third party under a
FVOCI are measured at fair value through profit ‘pass-through’ arrangement; and either (a) the
or loss. A gain or loss on a debt investment that Company has transferred substantially all the
is subsequently measured at fair value through risks and rewards of the asset, or (b) the Company
profit or loss is recognised in profit or loss. has neither transferred nor retained substantially
all the risks and rewards of the asset, but has
Equity instruments: transferred control of the asset.
The Company subsequently measures all equity
investments at fair value. When the Company has transferred its rights to
receive cash flows from an asset or has entered into
Where the Company’s management has elected a pass-through arrangement, it evaluates if and to
to present fair value gains and losses on equity what extent it has retained the risks and rewards
investments in other comprehensive income, there is of ownership. When it has neither transferred nor
retained substantially all of the risks and rewards of
no subsequent reclassification of fair value gains and
the asset, nor transferred control of the asset, the
losses to profit or loss following the derecognition of
Company continues to recognise the transferred
the investment. Dividends from such investments
asset to the extent of the Company’s continuing
are recognised in profit or loss when the Company’s
involvement. In that case, the Company also
right to receive payments is established. Impairment recognises an associated liability. The transferred
losses (and reversal of impairment losses) on equity asset and the associated liability are measured on a
investments measured at FVOCI are not reported basis that reflects the rights and obligations that the
separately from other changes in fair value. Company has retained.
Changes in the fair value of financial assets at fair Continuing involvement that takes the form of a
value through profit or loss are recognised in the guarantee over the transferred asset is measured at
statement of profit and loss. the lower of the original carrying amount of the asset
and the maximum amount of consideration that the
The Company has made an irrevocable election to Company could be required to repay.
present subsequent changes in the fair value of certain
303

CIN : L93030DL2010PLC198141
Impairment of financial assets After initial recognition, interest-bearing loans and

The Company assesses on a forward-looking basis borrowings are subsequently measured at amortised
the expected credit losses associated with its cost using the EIR method. Gains and losses are
assets carried at amortised cost and FVOCI debt recognised in profit or loss when the liabilities are
instruments. Different impairment methodologies derecognised as well as through the EIR amortisation
are applied depending on whether there has been a process.
significant increase in credit risk or not. For trade
receivables, the Company applies the simplified Amortised cost is calculated by taking into account
approach required by Ind AS 109, which requires any discount or premium on acquisition and fees
expected lifetime losses to be recognised from initial or costs that are an integral part of the EIR. The
recognition of the receivables. EIR amortisation is included as finance costs in the
statement of profit and loss. This category generally
The application of simplified approach does not
applies to borrowings.
require the Company to track changes in credit risk.
Rather, it recognizes impairment loss allowance based Financial liabilities at fair value through profit
on lifetime ECLs at each reporting date, right from or loss
its initial recognition. The Company has established
a provision matrix that is based on its historical Financial liabilities at fair value through profit or loss
credit loss experience, adjusted for forward-looking include financial liabilities held for trading or financial
factors specific to the debtors and the economic liabilities designated upon initial recognition as at fair
environment. value through profit or loss.
Financial liabilities are classified as held for trading
Initial recognition and measurement if they are incurred for the purpose of repurchasing
Financial liabilities are classified, at initial recognition, in the near term.
as financial liabilities at fair value through profit or
loss, loans and borrowings, payables, as appropriate. Gains or losses on liabilities held for trading are
recognised in the statement of profit and loss.
All financial liabilities are recognised initially at fair
value and, in the case of loans and borrowings and Financial liabilities designated upon initial
payables, net of directly attributable transaction recognition at fair value through profit or loss are
costs. designated as such at the initial date of recognition
and only if the criteria in Ind AS 109 are satisfied.
The Company’s financial liabilities include trade and For liabilities designated as FVTPL, fair value gains/
other payables, loans and borrowings including bank
losses attributable to changes in own credit risk
overdrafts and liability component of convertible
are recognized in OCI. These gains/ losses are not
instruments.
subsequently transferred to P&L. However, the
Subsequent measurement Company may transfer the cumulative gain or loss
The measurement of financial liabilities depends on within equity. All other changes in fair value of such
their classification, as described below: liability are recognised in the statement of profit
and loss.
Financial liabilities at amortised cost (Loans and
borrowings, if any)
304

CIN : L93030DL2010PLC198141
Derecognition be identified, an appropriate valuation model is used.

A financial liability is derecognised when the obligation These calculations are corroborated by valuation
under the liability is discharged or cancelled or multiples, quoted share prices for publicly traded
expires. When an existing financial liability is replaced companies or other available fair value indicators.
by another from the same lender on substantially
different terms, or the terms of an existing liability The Company bases its impairment calculation on
are substantially modified, such an exchange or detailed budgets and forecast calculations, which are
modification is treated as the derecognition of the prepared separately for each of the Company’s CGUs
original liability and the recognition of a new liability. to which the individual assets are allocated. These
The difference in the respective carrying amounts is budgets and forecast calculations generally cover
recognised in the statement of profit and loss. a Period of five years. For longer years, a long-term
growth rate is calculated and applied to project future
Offsetting of financial instruments cash flows after the fifth year. To estimate cash flow
Financial assets and financial liabilities are offset and projections beyond years covered by the most recent
the net amount is reported in the statement of assets budgets/forecasts, the company extrapolates cash
and liabilities if there is a currently enforceable legal flow projections in the budget using a steady or
right to offset the recognised amounts and there is an declining growth rate for subsequent years, unless
intention to settle on a net basis, to realise the assets an increasing rate can be justified. In any case, this
and settle the liabilities simultaneously. growth rate does not exceed the long-term average
growth rate for the products, industries, or country
xvii. Impairment of non-financial assets or countries in which the entity operates, or for the
The Company assesses at each reporting date, market in which the asset is used.
whether there is an indication that an asset may be
impaired. If any indication exists, or when annual Impairment losses are recognised in the statement
impairment testing for an asset is required, the of profit and loss.
company estimates the asset’s recoverable amount.
An asset’s recoverable amount is the higher of an For the purpose of impairment testing, goodwill
asset’s or cash-generating unit’s (CGU) fair value less acquired in a business combination is, allocated to
costs of disposal and its value in use. Recoverable cash-generating units that are expected to benefit
amount is determined for an individual asset, unless from the combination, irrespective of whether other
the asset does not generate cash inflows that are assets or liabilities of the acquiree are assigned to
largely independent of those from other assets or those units.
groups of assets. When the carrying amount of an
asset or CGU exceeds its recoverable amount, the A cash generating unit to which goodwill has been
asset is considered impaired and is written down to allocated is tested for impairment annually, or more
its recoverable amount. frequently when there is an indication that the unit
may be impaired. For the business which are similar
In assessing value in use, the estimated future cash in nature for the purpose of impairment testing of
flows are discounted to their present value using a goodwill, the Company considers such businesses
pre-tax discount rate that reflects current market as one cash generating unit.
assessments of the time value of money and the
risks specific to the asset. In determining fair value If the recoverable amount of the cash generating
less costs of disposal, recent market transactions unit is less than its carrying amount, the impairment
are taken into account. If no such transactions can loss is allocated first to reduce the carrying amount
305

CIN : L93030DL2010PLC198141
of any goodwill allocated to the unit and then to the distributing shares to employees under the employee
other assets of the unit pro rata based on the carrying stock option schemes. The Company treats EBT as
amount of each asset in the unit. its extension and shares held by EBT are treated as
treasury shares.
For the purpose of impairment testing of Goodwill
in relation to Uber Eats Business acquisition, the Own equity instruments that are held by the trust are
Company has considered the business of Uber recognised at cost and deducted from equity. No gain
Eats acquisition and Zomato business as one Cash or loss is recognised in profit or loss on the purchase,
generating unit as nature of both business is same. sale, issue or cancellation of the Company’s own
equity instruments. Any difference between the
For assets excluding goodwill, an assessment is made carrying amount and the consideration, if reissued,
at each reporting date to determine whether there is is recognised in the other equity.
an indication that previously recognised impairment
losses no longer exist or have decreased. If such xx. Events occurring after the balance sheet
indication exists, the Company estimates the asset’s date
or CGU’s recoverable amount. A previously recognised Based on the nature of the event, the company
impairment loss is reversed only if there has been a identifies the events occurring between the balance
change in the assumptions used to determine the sheet date and the date on which the standalone
asset’s recoverable amount since the last impairment financial statements are approved as ‘Adjusting
loss was recognised. The reversal is limited so that Event’ and ‘Non-adjusting event’. Adjustments to
the carrying amount of the asset does not exceed its assets and liabilities are made for events occurring
recoverable amount, nor exceed the carrying amount after the balance sheet date that provide additional
that would have been determined, net of depreciation, information materially affecting the determination
had no impairment loss been recognised for the asset of the amounts relating to conditions existing at
in prior years. Such reversal is recognised in the the balance sheet date or because of statutory
statement of profit or loss unless the asset is carried requirements or because of their special nature. For
at a revalued amount, in which case, the reversal is non-adjusting events, the company may provide a
treated as a revaluation increase. disclosure in the standalone financial statements
considering the nature of the transaction.
xviii. Cash and cash equivalents
Cash and cash equivalent in the balance sheet 2.3 Significant accounting judgements, estimates
comprise cash at banks and on hand and short-term
and assumptions
deposits with an original maturity of three months
The preparation of the financial statements requires
or less, which are subject to an insignificant risk of
management to make judgements, estimates and
changes in value.
assumptions that affect the reported amounts of
For the purpose of the statement of cash flows, cash revenues, expenses, assets and liabilities. Uncertainty
and cash equivalents consist of cash and short-term about these assumptions and estimates could result
deposits, as defined above, net of outstanding bank in outcomes that require a material adjustment to
overdrafts (if any) as they are considered an integral the carrying amount of assets or liabilities affected
part of the company’s cash management. in future periods.
xix. Treasury shares Judgements

The Company has created an Employee Benefit In the process of applying the accounting policies,
Trust (EBT). The Company uses EBT as a vehicle for management has made the following judgements,
306

CIN : L93030DL2010PLC198141
which have the most significant effect on the amounts Fair value measurement of financial instruments
recognised in the financial statements: hen the fair values of financial assets and financial
W
liabilities recorded in the balance sheet cannot be
he key assumptions concerning the future and other
T measured based on quoted prices in active markets,
key sources of estimation uncertainty at the reporting their fair value is measured using valuation techniques
date, that have a significant risk of causing a material and inputs to be used. The inputs to these models
adjustment to the carrying amounts of assets and are taken from observable markets where possible,
liabilities within the financial year, are described below: but where this is not feasible, a degree of judgement
a. The Company based its assumptions and is required in establishing fair values. Judgements
estimates on parameters available when the include considerations of inputs such as liquidity
standalone financial statement were prepared. risk, credit risk and volatility. Changes in assumptions
b. Existing circumstances and assumptions about about these factors could affect the reported fair
future developments, however, may change due to value of financial instruments.
market changes or circumstances arising that are
beyond the control of the Company. Such changes are Impairment of Goodwill
reflected in the assumptions when they occur. oodwill recognised on business combination is
G
tested for impairment on annual basis or whenever
Defined benefit plans (Gratuity benefits) there is an indication that the recoverable amount
he cost of the defined benefit gratuity plan and
T of the cash generating unit (CGU) is less than the
the present value of the gratuity obligation are carrying amount. The calculation of value in use of a
determined using actuarial valuations. An actuarial CGU involves use of significant assumptions including
valuation involves making various assumptions that future economic and market conditions.
may differ from actual developments in the future.
These include the determination of the discount rate, Significant influence assessment
future salary increases and mortality rates. Due to the hen the Company invests in an entity, it also assesses
W
complexities involved in the valuation and its long- whether it has significant influence over the investee.
term nature, a defined benefit obligation is highly Significant influence is the power to participate in
sensitive to changes in these assumptions. the financial and operating policy decisions of the
investee but does not constitute control or joint
All assumptions are reviewed at each reporting date. control over those policies. The Company exercises
The parameter most subject to change is the significant judgment in order to assess whether it has
discount rate. In determining the appropriate significant influence over the investee or not.
discount rate for plans operated, the management
considers the interest rates of government bonds Incentives
in currencies consistent with the currencies s disclosed in Note 2.2 (x), the Company provides
A
of the post-employment benefit obligation. incentives to its transacting users in various forms
The mortality rate is based on publicly available including credits and direct payment discounts to
mortality table . The mortality table tend to change promote traffic on its platform. All incentives given
only at interval in response to demographic changes. to the users where the Company is responsible for
Future salary increases and gratuity increases are delivery are recorded as a reduction of revenue to
based on expected future inflation rates. the extent of the revenue earned from that user on
a transaction by transaction basis. The amount of
urther details about gratuity obligations are given
F incentive in excess of the revenue earned from the
in note 30. transacting users is recorded as advertisement
307

CIN : L93030DL2010PLC198141
and sales promotion expense. In other cases, determine whether there is any indication that those
where Company is not responsible for delivery, investments have suffered an impairment loss.
management is required to determine whether the Where the carrying amount of investments exceeds
incentives are in substance a payment on behalf of its recoverable amount, the investment is considered
the restaurant merchants and should therefore be impaired and is written down to its reccoverable
recorded as a reduction of revenue or advertisement amount. An impairment loss (if any) is recognised in
and sales promotion expenses. Some of the factors statement of profit and loss.
considered in management’s evaluation of such
incentives being payments on behalf of restaurant Deferred tax recognition
merchants include whether the incentives are eferred tax asset (DTA) is recognized only when
D
given at the Company’s discretion, contractual and to the extent there is convincing evidence that
agreements with the restaurant merchants, business the Company will have sufficient taxable profits in
strategy and objectives and design of the incentive future against which such assets can be utilized.
program(s), etc. Significant management judgment is required to
determine the amount of deferred tax assets that can
Impairment of Investment in subsidiaries and be recognised, based upon the likely timing and the
joint venture level of future taxable profits together with future tax
he Company asses the carrying amounts of
T planning strategies, recent business performance
investment in subsidiaries and joint venture to and developments.
308
Notes to the Standalone Financial Statements
CIN : L93030DL2010PLC198141
3 Property, plant and equipment

(INR crores)
Particulars Leasehold Air Electrical Furniture Computers Motor Telephone Total
improvement conditioner equipment and fitting vehicles instrument
At March 31, 2022 33 0 3 1 65 1 3 106
Additions 29 - 5 6 17 0 0 57
Disposal - - (0) (0) (11) (0) (0) (11)
Foreign currency translation
0 0 0 0 0 0 0 0
reserve*
At March 31, 2023 62 0 8 7 71 1 3 152
Company Overview
Additions 7 - 5 1 22 0 0 35
Disposal (0) - (0) (0) (10) (0) (0) (10)
0 0 0 0 0 0 0 0
reserve*
At March 31, 2024 69 0 13 8 83 1 3 177
Accumulated depreciation
At March 31, 2022 25 0 3 1 42 0 3 74
Statutory Reports
Depreciation 8 0 1 1 20 0 0 30
Disposals - - (0) (0) (11) (0) (0) (11)
0 0 0 0 0 0 0 0
reserve*
At March 31, 2023 33 0 4 2 51 (0) 3 93
Depreciation 7 - 3 2 21 0 0 33
Disposals (0) - (0) (0) (11) (0) (0) (11)
0 0 0 0 0 0 0 0
reserve*
At March 31, 2024 40 0 7 4 61 0 3 115
At March 31, 2023 29 - 4 5 20 1 - 59

At March 31, 2024 29 - 6 4 22 1 - 62
309
CIN : L93030DL2010PLC198141
4 Other intangible assets and Goodwill

(INR crores)
Particulars Other intangible assets Goodwill
Software and Trademarks Brand Tech Non Total

website platform compete
At March 31, 2022 10 2 125 60 135 332 1,209
Additions 0 - - - - 0 -
Deletion/Adjustments - - (125) - (135) (260) -
Foreign currency translation reserve* 0 - - - - 0 -
At March 31, 2023 10 2 - 60 - 72 1,209
Additions 5 - - - - 5 -
Company Overview
Deletion/Adjustments - - - - - - -
Foreign currency translation reserve* - - - - - - -
At March 31, 2024 15 2 - 60 - 77 1,209
Accumulated amortization
At March 31, 2022 10 2 91 50 99 252 -
For the year 0 - 34 10 36 80 -
Deletions / adjustments - - (125) - (135) (260) -
Foreign currency translation reserve* 0 - - - - 0 -
At March 31, 2023 10 2 - 60 - 72 -
Statutory Reports
For the year 1 - - - - 1 -

Deletions / adjustments - - - - - - -
Foreign currency translation reserve* - - - - - - -
At March 31, 2024 11 2 - 60 - 73 -
At March 31, 2023 0 - - - - 0 1,209

At March 31, 2024 4 - - - - 4 1,209
Impairment of CGUs containing Goodwill
For the purpose of impairment testing, goodwill acquired in a business combination is allocated to the cash generating unit (CGU), which benefit from the synergies
of the acquisition.CGUs which have goodwill allocated to them are tested for impairment at least annually. The Company recognises impairment, when the carrying
amount of CGUs including goodwill, exceeds the estimated recoverable amount of CGU. The Group’s CGUs containing goodwill is India food ordering and delivery
(Goodwill: INR 1,209 crores)
The recoverable value of India food ordering and delivery CGU is determined based on the market value of the Company.
The estimated recoverable amount of CGU exceeded its carrying amount and accordingly, no impairment was recognised.
310
No reasonably possible change in the inputs (used for recoverable value calculation) would cause the recoverable amount of the above CGUs to fall shorter than
their carrying value.

CIN : L93030DL2010PLC198141
5 Financial assets - Investments (Non-current)

(INR crores)
A) Investment in unquoted equity shares (fully paid up)

measured at Cost
Investment in Subsidiaries
Zomato Media Portugal, Unipessoal LDA * (closed
w.e.f July 27, 2023)
Nil (March 31, 2023: 48,75,000) equity shares of
- 41
Euro 1 each
Less: Provision for impairment in value - - (41) -
Zomato New Zealand Media Private Limited
*(closed w.e.f June 22, 2023)
Nil (March 31, 2023: 62,50,000) equity shares of
- 32
NZD 1 each
Zomato Ireland Limited *
11,62,91,111 (March 31, 2023: 11,62,91,111) equity
689 850
shares of Euro 1 each
Less: Provision for impairment in value (689) - (850) -
PT Zomato Media Indonesia * (closed w.e.f March 21,
2024)
Nil (March 31, 2023: 26,13,60,27,039) equity shares
- 14
of IDR 1 each
Zomato Media (Private) Limited (Sri Lanka)
7,00,000 (March 31, 2023: 7,00,000) equity shares
0 0
of LKR 10 each
Zomato Chile SpA (closed w.e.f September 29,
2023)
Nil (March 31, 2023: 1,08,157) equity shares of CLP
- 6
5,000 each
Zomato Middle East FZ - LLC *
13,000 (March 31, 2023: 13,000) equity shares of
32 31
AED 1,000 each
Zomato Hyperpure Private Limited *
2,95,44,327 (March 31, 2023: 1,74,20,386) equity
1,664 964
shares of INR 10 each
311

CIN : L93030DL2010PLC198141
(INR crores)
Zomato Entertainment Private Limited *

78 24
INR 10 each
TongueStun Food Network Private Limited *
165 165
of INR 10 each
Zomato Local Services Private Limited *
8 0
of INR 10 each
Zomato Foods Private Limited *
29 29
INR 10 each
Zomato Payments Private Limited *
5,94,65,215 (March 31, 2023: 5,00,00,000) equity
73 53
Less: Provision for impairment in value (39) 34 - 53
Zomato Financial Services Limited *
1,62,50,000 (March 31, 2023: 1,22,50,000) equity
16 12
Blink Commerce Private Limited (formerly known
as Grofers India Private Limited) (Subsidiary
w.e.f. August 10, 2022)
52,295 (March 31, 2023 : 46,180) Equity Shares of
5,905 5,155
face value INR 10 each fully paid
3,248 (March 31, 2023 : 3,248) 0.0001 % compulsorily
convertible preference shares with a face value of 343 343
INR 1,000 each
Subtotal 8,080 6,582
B) Investments measured at fair value through other

comprehensive income (FVTOCI)
(i) Investment in unquoted equity instruments
designated at FVTOCI (fully paid up)
Investment in Equity Shares
1,000 each fully paid in Hands on Trades Private 0 0
Limited
312

CIN : L93030DL2010PLC198141
(INR crores)

0 0
1 each fully paid in Curefit Healthcare Private Limited
9,824 (March 31, 2023 : 9,824) Equity shares of face
value INR 10 each fully paid in BigFoot Retail Solutions 33 33
Private Limited
- 0
10 each fully paid in Adonmo Private Limited
10 each fully paid in Urbanpiper Technology Private 0 0
Limited
0 0
10 each fully paid in Mukunda Foods Private Limited
Investment in Preference Shares
4,48,361 (March 31, 2023 : 4,48,361) 0.0001 %
223 223
face value of INR 1,000 each fully paid in Hands on
Trades Private Limited
1,55,08,043 (March 31, 2023 : 1,55,08,043) Series F
CCPS 0.01% compulsorily convertible preference
750 750
shares with face value INR 483 each fully paid in Curefit
Healthcare Private Limited
1,32,082 (March 31, 2023 : 1,32,082) Series E CCPS
450 450
21,832 (March 31, 2023 : 21,832) Series B CCPS
74 74
55,514 (March 31, 2023 : 55,514) Series D CCPS 0.001 %
compulsorily convertible preference shares with a face
value of INR 10 each fully paid in Samast Technologies
Private Limited 371 371
313

CIN : L93030DL2010PLC198141
(INR crores)

112 112
face value of INR 10 each fully paid in Adonmo Private
Limited
37 37
a face value of INR 10 each fully paid in Urbanpiper
Technology Private Limited
13,289 (March 31, 2023 : 13,289) Series B1 CCPS 0.01%
38 38
face value of INR 10 each fully paid in Mukunda Foods
Private Limited
Aggregate amount of FVTOCI investment in unquoted
2,223 2,163
equity instruments
(ii) Investment in unquoted debt instruments

measured at FVTOCI
Debentures or bonds 5,696 50
Add: fair value through other comprehensive income (21) 5,675 0 50
Government securities 2,453 -
Add: fair value through other comprehensive income 14 2,467 - -
Aggregate amount of unquoted debt instruments
8,142 50
measured at FVTOCI
Aggregate amount of FVTOCI Investments 10,365 2,213
C) Investments in unquoted debt instruments

Government securities - 67
Aggregate amount of unquoted investments (A+B+C) 18,445 8,862
Aggregate amount of impairment on investments (refer
922 1,135
note 28)
* includes cost of stock options allocated to subsidiary companies for stock options given to employees of subsidiary companies.
314

CIN : L93030DL2010PLC198141
6 Financial assets - Investments (current)

(INR crores)
A) Investments at fair value through profit or loss
(FVTPL) (quoted)
Mutual funds 814 2,885
B) Investments in unquoted debt instruments
Government securities 65 947
C) Investment in unquoted debt instruments measured
at FVTOCI
Debentures or bonds 48 -
Add: fair value through other comprehensive income -
(0) 48 - -
Debentures or bonds
Total Investments (A+B+C) 927 3,832
Aggregate amount of quoted investments 814 2,885

Aggregate market value of quoted investments 814 2,885
Aggregate amount of unquoted investments 113 947
7 Trade receivables
(INR crores)
March 31, 2024 March 31, 2023
Trade receivables
Unsecured, considered good * 69 62
Trade Receivables-credit impaired 8 22
77 84
Impairment allowance (allowance for bad and doubtful debts)
Trade Receivables-credit impaired (8) (22)
Total trade receivables 69 62
The allowance for doubtful debts and changes in the allowance for
doubtful accounts during the year, were as follows:
Add: addition / (reversal) of impairment allowance of trade receivables-
6 2
credit impaired
Less: write offs/adjustments (20) (4)
Trade receivables are non-interest bearing and are generally on terms of 0 to 90 days.
* includes amount of INR 2 crores ( March 31, 2023 : INR 38 crores) receivable from related party (refer note 34)
Refer note 43 for trade receivable ageing
No trade or other receivable are due from directors or other officers of the company either severally or jointly
with any other person. Except as disclosed in note 34 , no trade or other receivable are due from firms or
private companies respectively in which any director is a partner, a director or a member.
315

CIN : L93030DL2010PLC198141
8 Cash and cash equivalents

(INR crores)
March 31, 2024 March 31, 2023

Total cash and cash equivalents 181 123
For the purpose of the statement of cash flows, cash and cash equivalents comprise of the following:
(INR crores)
Particulars
As at As at
March 31, 2024 March 31, 2023

Total 181 123
9 Bank balances other than cash and cash equivalents

(INR crores)
Particulars
As at As at
March 31, 2024 March 31, 2023
Bank deposits with original maturity of more than three months but less
278 273
than 12 months
Bank balances (including deposits) held as margin money - 3
Total bank balances other than cash and cash equivalents 278 276
10 Loans
(INR crores)
March 31, 2024 March 31, 2023
Non-current
Loan to related party (refer note 34)
- Considered good- secured - 750
- Considered good- unsecured - 208
Total non-current Loans - 958
316

CIN : L93030DL2010PLC198141
11 Other financial assets

(INR crores)
March 31, 2024 March 31, 2023
Non-current
Margin money deposits 1 -
Bank deposits with original maturity for more than 12 months 662 1,782
Security deposits 22 18
Total non-current other financial assets 717 1,863
Current
Bank deposits with original maturity for more than 12 months 1,186 3,889
Interest accrued on fixed deposits and others * 411 267
Security deposit 3 3
Receivable from related party (refer note 34) 81 52
Amount recoverable in cash 114 118
Amount recoverable from payment gateways 273 91
Total current other financial assets 2,015 4,400
* includes interest receivable on intercompany loans amounting to INR Nil crores ( March 31, 2023 INR 6 crores) (refer note 34)
12 Tax assets (net)

(INR crores)
March 31, 2024 March 31, 2023
Non-current
Advance tax / tax deducted at source 179 98
Less: provision for tax (3) (2)
Total tax assets 176 96
317

CIN : L93030DL2010PLC198141
13 Other assets
(INR crores)
Non-Current
Capital advances 0 1
Total non-current other assets 42 2
Current
Staff imprest 0 0
Advances to supplier 43 19
Other advances - 5
Balance with statutory/government authorities 26 33
Total current other assets 77 51
14 Inventories
(INR crores)
March 31, 2024 March 31, 2023
Traded Goods (at lower of cost or net realizable value) - 0

Total inventories - 0
15 (a) Share capital

(INR crores)
March 31, 2024 March 31, 2023
Authorised share capital

1,449 880
each
Nil (March 31, 2023: 1,00,000) Compulsorily Convertible Cumulative
- 0
Preference Shares of face value of INR 10/- each ("Class A")
Nil (March 31, 2023: 32,800) Class B 0.0001% Compulsorily Convertible
- 0
Cumulative Preference Shares of face value of INR 10/- ("Class B")
Nil (March 31, 2023: 27,327) Class C 0.0001% Compulsorily Convertible
- 0
Cumulative Preference Shares of face value of INR 10/- ("Class C")
Nil (March 31, 2023: 28,460) Class D 0.0001% Compulsorily Convertible
- 0
Cumulative Preference Shares of face value of INR 10/- ("Class D")
318

CIN : L93030DL2010PLC198141
(INR crores)
March 31, 2024 March 31, 2023
Nil (March 31, 2023: 93,05,51,391) Class E 0.0001% Compulsorily Convertible
- 93
Preference Shares of face value of INR 1/- ("Class E")
Nil (March 31, 2023: 19,06,53,540) Class F 0.0001% Compulsorily
- 38
Convertible Preference Shares of face value of INR 2/- ("Class F")
Nil (March 31, 2023: 10,885) Class G 0.00000015% Compulsorily
Convertible Cumulative Preference Shares of face value of INR - 7
6,700/- ("Class G")
Nil (March 31, 2023: 83,425) Class H 0.00000015% Compulsorily
("Class H")
Nil (March 31, 2023: 1,16,350) Class I 0.00000015% Compulsorily
("Class I")
Nil (March 31, 2023: 1,20,000) Class J 0.00000015% Compulsorily
("Class J")
Nil (March 31, 2023: 76,376) Non-Voting 0.00000010% Class Non
Voting I-2 Compulsorily Convertible Cumulative Preference Shares - 69
of face value of INR 9,000 ("Class Non Voting I-2")
("Class J2")
("Class J3")
("Class J4")
("Class J5-1")
("Class J5-2")
("Class J6")
("Class J7")
Nil (March 31, 2023: 50,000) Class K 0.00000015% Compulsorily
("Class K")
1,449 1,449
319

CIN : L93030DL2010PLC198141
(INR crores)
March 31, 2024 March 31, 2023
Issued, subscribed and fully paid-up equity shares

8,81,97,83,744 (March 31, 2023: 8,55,35,09,770) equity shares of
882 855
INR 1 each
Less: 13,95,28,706 (March 31, 2023: 18,95,34,357) Shares held by
14 19
ESOP trust as at the year end of INR 1 each
868 836
i) Reconciliation of the shares outstanding at the beginning and at the end of the year
Equity shares
Number (INR crores) Number (INR crores)
At the beginning of the year 8,55,35,09,770 855 7,87,19,32,776 787
Add: shares issued during the year - - 62,85,30,012 63
Add : bonus shares issued during the year 3,25,03,548 3 1,28,41,983 1
Add: shares issued on exercise of employee stock
23,37,70,426 23 4,02,04,999 4
options
Subtotal 8,81,97,83,744 882 8,55,35,09,770 855
Less: shares held by ESOP Trust as at the year end 13,95,28,706 14 18,95,34,357 19
Outstanding at the end of the year 8,68,02,55,038 868 8,36,39,75,413 836
ii) Details of shareholders holding more than 5% shares in the Company

Equity shares of INR 1 each fully paid
Name of Shareholder As at March 31, 2024 As at March 31, 2023
Number % of Holding Number % of Holding
Info Edge (India) Limited 1,19,46,87,095 13 .55 % 1,19,46,87,095 13 .97 %
Antfin Singapore Holding Pte Ltd 37,38,55,225 4 .24 % 55,02,50,900 6 .43 %
Terms/rights attached to equity shares

The Company has only one class of equity shares having a par value of INR 1 per share. Each holder of equity
is entitled to one vote per share. Dividends (including proposed dividends), if any, are declared and paid or
proposed in Indian rupees. The dividend proposed if any by the Board of Directors is subject to the approval
of the shareholders in the ensuing Annual General Meeting.
In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining
assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to
the number of equity shares held by the shareholders.
As per records of the Company, including its register of shareholders/members and other declarations received
from shareholders regarding beneficial interest, the above shareholding represents both legal and beneficial
ownership of shares. The Company is professionally managed and does not have an identifiable promoter.
320

CIN : L93030DL2010PLC198141
iii) In the period of five years immediately preceding March 31, 2024:
i) The Company had allotted 76,376 fully paid up shares of face value INR 9,000/- each during the year
ended March 31, 2020 pursuant to business combination with Uber India Systems Private Limited for
non-cash consideration.
ii) The Company had allotted 1,576 fully paid up equity shares of face value INR 1/- each during the year
ended March 31, 2021 pursuant to acquisition of Jogo Technologies Private Limited (“FitSo”) for non
cash consideration.
iii) The Company has approved and allotted bonus shares during the financial year ended March 31, 2022
in the ratio of 1:6699 to existing equity shareholders and has also approved bonus issuance to option
holders whose name appears in the register of employee stock options, which will be issued basis the
equity shares held by the option holders upon the exercise of the option.
iv) During the previous year ended March 31, 2023 the Company had acquired 33,018 equity shares of Blink
Commerce Private Limited (formerly known as Grofers India Private Limited) (“BCPL”) by issuance and
allotment of 62,85,30,012 equity shares (refer note 40)
v) For details of shares reserved for issue under the employee stock option (ESOP) plan of the Company,
please refer note 31.
15 (b) Other equity

(INR crores)
March 31, 2024 March 31, 2023
Capital reserve
3 3
Securities Premium
Add: premium on issue of equity shares - 3,422
Less: bonus issue of equity shares (pursuant to exercise of employee
(3) (1)
stock options)
Less: transaction cost on issue of shares (0) (0)
24,707 24,710
Share-based payment reserve
Add: share based payment expense 322 455
Add: share based payment expense allocated to subsidiary companies 193 50
Add: ESOP issuance for unvested ESOPs on acquisition - 22
Less: transfer to retained earning on exercise of employee stock
(1,125) (360)
options
683 1,293
321

CIN : L93030DL2010PLC198141
(INR crores)
March 31, 2024 March 31, 2023
Retained earnings
Balance at the beginning of the year (6,109) (6,418)
Add: transfer from share-based payment reserve on exercise of
1,125 360
Add: amount collected by ESOP trust on exercise of employee stock
9 7
Less: transfer from other comprehensive income (refer note 33) - (175)
Add: profit during the year 1,371 117
Less: share based payment on cash settlement of option (fractional
(0) (0)
shares)
Net deficit in the statement of profit and loss (3,604) (6,109)
Treasury shares
Less : shares issued by ESOP trust on exercise of employee stock
(5) (4)
options
14 19
Business transfer adjustment reserve
Add / (less) during the year - -
(43) (43)
Add / (less) during the year (3) 2
(10) (7)
Add / (less) during the year 1 8
31 30
Add / (less) during the year 60 (111)
Add: Transfer to retained earning (refer note 33) - 175
134 74
Balance at the beginning of the year 0 -
Add / (less) during the year (8) 0
(8) 0
Total 21,907 19,970
322

CIN : L93030DL2010PLC198141
15 (c) Nature and purpose of reserves:

Capital reserve
The Company recognises profit or loss on purchase, sale, issue or cancellation of the Company’s own equity
instruments to capital reserve.
Securities premium
Securities premium is used to record the premium on issue of shares. The reserve is utilised in accordance
with the provisions of section 52 of the Companies Act, 2013.
Share based payment reserve
The share options based payment reserve is used to recognise the grant date fair value of options issued to
employees under Employee stock option plan.
Retained earnings
Retained earnings represent the net profit or loss accumulated by the Company till date, adjusted for
any distributions made to shareholders and any transfers from Other Comprehensive Income (OCI) or
reclassification/adjustments within the other equity, as per applicable accounting framework.
Treasury shares
Own equity instruments that are held by the Parent/(trust) are recognised at cost and deducted from equity.
No gain or loss is recognised in the consolidated statement of profit and loss on the purchase, sale, issue or
cancellation of the Company’s own equity instruments. Any difference between the carrying amount and the
consideration, if reissued/transferred, is recognised in equity.
Business transfer adjustment reserve
The Company has accounted for the business transfer of Carthero Technologies Private Limited (“CTPL”) to
the Company under ‘pooling of interest’ method. Consequently, investment of the company in CTPL, share
capital of CTPL has been cancelled. The difference between the net assets acquired and the value of shares
and investment so cancelled has been recognized in Business Transfer Adjustment Reserve. From utilisation
perspective, this is akin to debit balance in retained earnings.
Remeasurements, comprising of actuarial gains and losses, excluding amounts included in net interest on the
net defined benefit liability are recognised immediately in the OCI in the period in which they occur. They are
then accumulated in a separate reserve named as “Remeasurement of defined benefit plans”. These amounts
are not reclassified to standalone statement of profit and loss in subsequent years.
Exchange differences arising on translation of the foreign operations are recognised in other comprehensive
income and are accumulated in foreign currency translation reserves. The cumulative amount is reclassified
to profit or loss when the foreign operations are disposed-off.
The Company has elected to recognise changes in the fair value of certain investments in equity securities in
other comprehensive income. These changes are accumulated within the “Equity instruments through other
comprehensive income” within other equity. The Company transfers amounts from this reserve to retained
earnings when the relevant equity securities are derecognised.
Debt instruments through other comprehensive income represents the cumulative gains (net of losses)
arising on revaluation of debt instruments measured at fair value through other comprehensive income, net
of amounts reclassified, if any, to profit or loss when those instruments are disposed off.
323

CIN : L93030DL2010PLC198141
16 Trade payables
(INR crores)
March 31, 2024 March 31, 2023
Trade payables
Total outstanding dues of micro enterprises and small enterprises
5 3
(refer note 37 for details of dues to micro and small enterprises)
Total outstanding dues of creditors other than micro enterprises and
476 363
small enterprises*
Total trade payables 481 366
*includes amount of INR 0 crores (March 31, 2023 INR 5 crores) payable to related parties. (refer note 34)
Trade payables are non-interest bearing and are normally settled on 0-60 days terms.
Refer note 42 for trade payable ageing
17 Other financial liabilities

(INR crores)
March 31, 2024 March 31, 2023
Current
Capital creditors 2 0
Amount payable to merchant 496 244
Payable to related parties (refer note 34) 19 19
Payable to customers 13 12
Other payable 17 13
Total current other financial liabilities 547 289
324

CIN : L93030DL2010PLC198141
18 Other current liabilities

(INR crores)
March 31, 2024 March 31, 2023
Unearned revenue 21 32
Advances from customers 6 7
Statutory dues :
Provident fund payable 3 2
Employee state insurance payable 0 -
Professional tax payable 0 -
Goods and services tax payable 210 147
Tax deducted at source payable 52 41
Others 12 1
Total other current liabilities 304 230
19 Provisions
(INR crores)
March 31, 2024 March 31, 2023
Non-current
Total non-current provisions 49 57
Current
Total current provisions 20 22
325

CIN : L93030DL2010PLC198141
20 Revenue from operations

(INR crores)
March 31, 2024 March 31, 2023
Sale of services
Service revenue (refer note 34) 6,601 4,650
Royalty income (refer note 34) 17 13
Sale of goods
Revenue from sale of traded goods 4 0
Other operating revenue * - 44
Total revenue from operations ** 6,622 4,707
* Pertaining to provision of services in the United Arab Emirates (UAE) to Talabat Middle East Internet Services
Company LLC (Talabat) for its delivery business in UAE.
** The above revenues are net of adjustments amounting to INR 187 crores (March 31, 2023: INR 8 crores) on
account of discounts and consideration payable to customers.
Timing of rendering of services

(INR crores)

services of traded revenue *
goods
Services and goods rendered at a point in time 5,343 4 - 5,347
Services rendered over time 1,275 - - 1,275
Total Revenue from contract with customers 6,618 4 - 6,622
(INR crores)

services of traded revenue *
goods
Services and goods rendered at a point in time 3,926 0 44 3,970

Services rendered over time 737 - - 737
Total Revenue from contract with customers 4,663 0 44 4,707
326

CIN : L93030DL2010PLC198141
Contract balances
The following table provides information about receivables and contract liabilities:
(INR crores)
March 31, 2024 March 31, 2023
Trade receivables * 69 62
Contract liabilities 27 39
* This includes unbilled receivable of INR 6 crores (March 31, 2023: INR 4 crores).
Notes:
1. The unbilled receivable primarily relate to the Group’s rights to consideration for work completed but
not billed at the reporting date on which the Group’s right to consideration is unconditional. A right to
consideration is unconditional if only the passage of time is required before payment of that consideration
is due.
2. Contract liabilities relates to payments received in advance of performance and unearned revenue against
which amount has been received from customer but services are yet to be rendered on the reporting date
either in full or in parts. Contract liabilities are recognised on completion / satisfaction of performance
obligation
a) Changes in unearned revenue during the year ended is as follows :
(INR crores)
March 31, 2024 March 31, 2023
Less: adjustments to revenue due to a contract modification or
(8) (1)
foreign exchange difference
Closing balance * 21 32
*The closing unearned revenue is expected to recognised within 1 year .
b) Changes in advances from customers during the year ended were as follows:
(INR crores)
For the year ended For the year ended
Particulars
March 31, 2024 March 31, 2023
Opening balance 7 9
Less: advances written back (2) (4)
Closing balance 6 7
327

CIN : L93030DL2010PLC198141
21 Other income
(INR crores)
March 31, 2024 March 31, 2023
Interest income on:
- On financial assets measured at amortised cost:
- Bank deposits 182 398
- Government securities 38 67
- Others * 4 162
- On financial assets at fair value through other
- Debentures or bonds 320 0
- Government securities 110 -
- Income tax refund - 4
Net gain arising on financial assets measured at fair
value through profit or loss:
- Net gain on sale of mutual fund units 94 66
- Fair value gain / (loss) on mutual fund units (14) 80 13 79
Other non operating income
Liabilities written back 4 10
Gain on termination of lease contracts (refer note 32) 1 3
Foreign exchange gain (net) - 1
Profit on sale of property, plant and equipment (net) 1 1
Income from cross charge (refer note 34) 174 56
Others ** 6 19
Total other income 920 800
*includes amount of interest on loan INR 2 crores (March 31, 2023 INR 113 crores) pertaining to related party. (refer note 34)
** includes INR Nil crores (March 31, 2023: INR 14 crores) amortization of unearned revenue relating to assignment of certain
restaurant contracts pertaining to its delivery business in the United Arab Emirates (UAE) to Talabat Middle East Internet Services
Company LLC (Talabat).
22 Purchase of stock-in-trade
(INR crores)
March 31, 2024 March 31, 2023
Purchases of stock-in-trade 5 1
Purchases of stock-in-trade 5 1
328

CIN : L93030DL2010PLC198141
23 Changes in inventories of stock-in-trade

(INR crores)
March 31, 2024 March 31, 2023
Inventory at the beginning of the year 0 -

Inventory at the end of the year - 0
Change in inventory 0 (0)
24 Employee benefits expenses

(INR crores)
March 31, 2024 March 31, 2023
Salaries and wages 595 629
Contribution to provident fund and other funds 13 9
Share based payment expense (refer note 31) 322 455
Gratuity expenses (refer note 30) 14 11
Staff welfare expenses 21 13
Total employee benefits expense 965 1,117
25 Finance costs
(INR crores)
March 31, 2024 March 31, 2023
Interest
- to others 0 -
Others
-Bank charges 2 2
-Other charges - -
Interest on lease liabilities (refer note 32) 16 14
Total finance cost 18 16
26 Depreciation and amortisation expenses

(INR crores)
March 31, 2024 March 31, 2023
Depreciation on property, plant and equipment 33 30
Depreciation on right-of-use assets (refer note 32) 39 30
Total depreciation and amortisation expenses 73 140
329

CIN : L93030DL2010PLC198141
27 Other expenses
(INR crores)
March 31, 2024 March 31, 2023
Power and fuel 2 1
Rent (refer note 32) 11 11
Rates and taxes 5 8
Repairs and maintenance 17 12
Advertisement and sales promotion 1,233 1,094
Outsourced support cost 102 193
Delivery and related charges 2,959 2,135
Travelling and conveyance 18 17
Server and communication cost 97 108
IT support services 289 223
Recruitment cost 4 4
Insurance 53 40
Payment gateway charges 149 137
Security expense 5 5
Legal and professional fee (refer note 34) 50 75
Payment to auditors (refer detail below) 2 2
Less: bad debt against opening provision (20) - (1) -
Loss on sale of property, plant and equipment (net) - -
Amount written off 15 37
Less: amount written off against opening provision (15) - (37) -
Postage and courier cost 20 11
Foreign exchange loss (net) 1 -
Miscellaneous expenses 3 26
Total other expenses 5,070 4,116
A. Payment to auditor
(INR crores)
March 31, 2024 March 31, 2023
As auditor
- Statutory audit 1 1
- Quarterly limited reviews 0 0
In other capacity
- Certification & other services (Group reporting) 0 1
- Reimbursement of expenses 0 0
1 2
330

CIN : L93030DL2010PLC198141
28 Exceptional items
(INR crores)
March 31, 2024 March 31, 2023
Closure of subsidiaries / joint ventures 252 1

Less: provision for impairment in value of investment in
(213) 39 (1) -
subsidiaries / joint ventures
Total exceptional items 39 -
Zomato Payments Private Limited (ZPPL) (a subsidiary of the Company) has decided to voluntarily surrender
the certificate of authorization obtained by the ZPPL from the Reserve Bank of India (“RBI”) to operate as an
online payment aggregator under the Payment and Settlements Systems Act, 2007. Further, ZPPL also decided
to voluntarily surrender its application with the RBI (for which it previously received in-principle authorization)
to operate as an issuer of pre-paid payment instruments, under the Payment and Settlement Systems Act,
2007 and the Master Direction on Prepaid Payment Instruments.
However, the other operations of ZPPL will continue. The Company has performed the Impairment assessment
under Ind AS 36 and recognised an impairment loss of INR 39 crores in the profit and loss account (as exceptional
item) on its investments in ZPPL, on account of the same.
29 Earning per equity share

Basic Earnings Per Share (EPS) and Diluted Earnings Per Share (EPS) amounts are calculated by dividing the
profit/ (loss) for the year attributable to equity shareholders of the Company by the weighted average number
of Equity shares outstanding during the year.
The following reflects the income and equity share data used in the basic and diluted EPS computations.

March 31, 2024 March 31, 2023
Profit attributable to equity holders of the Company (INR crores) 1,371 117
Weighted average number of equity shares in calculating basic EPS 8,49,34,97,136 8,10,11,58,888
Weighted average number of equity shares in calculating diluted
8,75,52,46,830 8,66,42,34,819
EPS
Face value of equity shares (INR) 1 1
Basic earnings per share (INR) 1.61 0.14
Diluted earnings per share (INR) 1.57 0.13
331
CIN : L93030DL2010PLC198141
30 Employee benefits obligation

a) The Company has a defined benefit gratuity plan. The gratuity plan of India is governed by the Payment of Gratuity Act, 1972 and the gratuity plan of
Middle East locations are governed by United Arab Emirates Labour Law. Under the Payment of Gratuity Act, 1972, employee who has completed five
years of service is entitled to specific benefit. The level of benefits provided depends on the member’s length of service and salary at retirement age.
Changes in the defined benefit obligation during the year ended March 31, 2024:
(INR crores)
Description April 01, Gratuity cost charged to standalone Remeasurements of the defined Exchange Contribution Benefits March
2023 statement of profit and loss benefit plans difference on by employer paid 31, 2024
translations
Service Net Sub-total Remeasurement Subtotal of foreign
Cost interest (recognized in of defined benefit recognized operations
expense statement of obligation in OCI
Company Overview
profit and loss,

refer note 24)
Defined benefit
40 11 3 14 3 3 0 - (13) 44
obligation
Benefit liability 40 11 3 14 3 3 0 - (13) 44
Changes in the defined benefit obligation during the year ended March 31, 2023:
(INR crores)
Statutory Reports
Description April 01, Gratuity cost charged to standalone Remeasurements of the Exchange Contribution Benefits March
2022 statement of profit and loss defined benefit plans difference on by employer paid 31, 2023
translations
Service Net Sub-total Remeasurement Subtotal of foreign
Cost interest (recognized in of defined benefit recognized operations
expense statement of obligation in OCI
profit and loss,
refer note 24)
Defined benefit
37 9 2 11 (2) (2) 0 - (6) 40
obligation
Benefit liability 37 9 2 11 (2) (2) 0 - (6) 40
Due to its defined benefits plans, the Company is exposed to the following risks:
Changes in discount rate - A decrease in yield will increase plan liability and vice-versa.
Salary risk - An increase in the salary of the plan participants will increase the plan’s liability and vice-versa.
332

CIN : L93030DL2010PLC198141
A quantitative sensitivity analysis for significant assumption is as shown below:

(INR crores)
Particulars Sensitivity analysis As at As at
March 31, 2024 March 31, 2023
1% increase (2) (2)
Discount rate
1% decrease 2 2
1% increase 1 1
1% decrease (1) (1)
Attrition rates
10% decrease 2 2
The sensitivity analysis above have been determined based on a method that extrapolates the impact on
defined benefit obligation as a result of reasonable changes in key assumptions occurring at the end of the
reporting date.
The average remaining future service at the end of the reporting year is 28.62 - 29.22 years (March 31, 2023:
27.49 - 29.15 years).
The weighted average duration of defined benefit obligation, at the end of the reporting year is 6.44 - 6.85
years (March 31, 2023: 5.93 - 6.36 years).
(INR crores)
Maturity analysis (the projection of gross payments) As at As at
March 31, 2024 March 31, 2023

Year 1-2 7 7
Year 2-5 19 17
Over 5 year 26 24
Remeasurement of defined benefit obligation recognized in OCI As at As at

March 31, 2024 March 31, 2023
Actuarial loss due to changes in demographic assumptions - -
Actuarial loss / (gain) due to changes in financial assumptions 1 (1)
Actuarial loss / (gain) due to experience adjustments 2 (1)
3 (2)
b) Defined contribution plan

During the year, the Company has recognised the following amounts in the statement of profit and loss:
(INR crores)
Employee contribution to Employee State Insurance 0 0
Employee contribution to provident fund and other funds 13 9
333

CIN : L93030DL2010PLC198141
c) Compensated absence:
The amount of the provision INR 25 crores (March 31, 2023: INR 39 crores)
(INR crores)
Particulars Sensitivity level As at As at
March 31, 2024 March 31, 2023
1% increase (1) (1)
Discount rate
1% decrease 1 1
1% increase 1 1
1% decrease (1) (1)
Attrition rates
10% decrease 1 1
d) The principal assumptions used in determining gratuity obligations for the Company’s plan is shown
below:

India UAE India UAE
Discount rate 7.0% 4.3% 7.20% 3.6%

Future salary increases 13% 13% 13% 13%
Retirement age (years) 58 58 58 58
IAL2012- NLTUK IAL2012- NLTUK
Mortality rates inclusive of provision for disability
14Ult 2015-17 14Ult 2015-17
Employee turnover (age)
Up to 30 Years 30% 30% 30% 30%
Above 30 Years 25% 25% 25% 25%
31 Share-based payments
General Employee Share-option Plan (GESP):
The Foodie Bay Employee Stock Option Plan 2014 (“ESOP 2014”) was approved by the shareholders of the
Company on June 27, 2014 (last amendment was done by the Board of directors on February 10, 2022) for
granting aggregate 27,089 Employees stock options (“ESOPs/Option(s)”) of the Company. The Company
further increased number of Options by 5,364 under the ESOP 2014 at the extraordinary general meeting of
shareholders held on September 07, 2015 and 9,313 Options under the ESOP scheme at the extra ordinary
general meeting of shareholders held on March 04, 2016.The ESOP 2014 covers grant of Options to the specified
employees covered under ESOP 2014 .
Further, bonus issuance in the ratio 1:6699 to equity shareholders was approved by the shareholders at their
meeting held on April 05, 2021. Accordingly, the number of shares that can be issued under the ESOP 2014
increased from 41,766 to 27,98,32,200.
334

CIN : L93030DL2010PLC198141
The Zomato Employee Stock Option Plan 2018 (“ESOP 2018”) was approved by the shareholders of the Company
on October 22, 2018 (last amendment was done by the Board of directors on February 10, 2022) for granting
aggregate 30,150 Employees stock options (“ESOPs/Option(s)”) which were reduced to 18,135 Options vide
Extraordinary General Meeting held on September 04, 2020. The ESOP 2018 covers grant of Options to the
specified employees covered under ESOP 2018.
Further, bonus issuance in the ratio 1:6699 to equity shareholders was approved by the shareholders at their
meeting held on April 05, 2021. Accordingly, the number of shares that can be issued under the ESOP 2018
increased from 18,135 to 12,15,04,500.
Zomato Employee Stock Option Plan 2021 (“ESOP 2021”) was approved by the shareholders of the Company on
April 05, 2021 (last amendment was done by the Board of directors on February 10, 2022) for grant aggregating
50,25,00,000 Employees stock option (“ESOPs/Option(s)”) of the Company. The ESOP 2021 covers grant of
Options to the specified employees covered under ESOP 2021.
Zomato Employee Stock Option Plan 2022 (“ESOP 2022”) was approved by the shareholders of the Company
through postal ballot on July 25, 2022, for grant aggregating 3,36,55,902 Employees stock option (“ESOPs/
Option(s)”) of the Company. The ESOP 2022 covers grant of Options to the specified employees covered under
ESOP 2022.
Movements during the year

The following table illustrates the number and weighted average exercise prices (WAEP) of and movements
in, share options during the year:
Particulars Year ended March 31, 2024 Year ended March 31, 2023
ESOP 2014 Number WAEP (INR) Number WAEP (INR)
Outstanding at April 01 21,750 11,185 28,457 14,293
Granted during the year 5,642 1 2,195 1
Exercised during the year 7,464 14,033 5,889 13,286
Forfeited/expired during the year 1,686 120 3,013 84
Outstanding at the end of the year 18,242 12,237 21,750 11,185
Exercisable at the end of the year 10,747 38,558 14,678 27,885
Outstanding at April 01 11,523 1 11,035 1

Granted during the year 676 1 3,250 1
Exercised during the year 4,856 1 1,921 1
Forfeited/expired during the year 592 1 841 1
Outstanding at the end of the year 6,751 1 11,523 1
Exercisable at the end of the year 5,782 1 6,689 1
335

CIN : L93030DL2010PLC198141
Outstanding at April 01 33,01,70,124 1 36,85,25,258 1
Granted during the year 4,11,30,223 1 23,50,793 1
Exercised during the year 22,86,79,200 1 4,02,03,082 1
Exercisable at the end of the year 6,70,790 1 19,43,17,670 1
Outstanding at April 01 2,11,48,941 1 - -
Granted during the year 1,40,16,384 1 2,49,35,907 1
Exercised during the year 50,86,374 1 - -
Exercisable at the end of the year 30,73,139 1 - -
Total expense arising from share based payment transaction for the year is INR 322 crores (March 31, 2023:
INR 455 crores) has been charged to standalone statement of profit and loss. Further share based payment
expense allocated to subsidiary companies INR 193 crores (March 31, 2023 : INR 50 crores)
The weighted average remaining contractual life for the share options outstanding was 7.16 years (March 31,
2023 : 7.27 years)
The weighted average fair value of options granted during the year was INR 96 (March 31, 2023 :INR 54)
For ESOP 2014, the range of exercise prices for options outstanding at the end of the year was INR 1 to INR
2,50,000 (March 31, 2023 : INR 1 to 2,50,000)
For ESOP 2018, 2021 and 2022, the range of exercise prices for options outstanding at the end of the year was
INR 1 (March 31, 2023 : INR 1)
The following tables list the inputs to the models used for the GESP plans for the year ended March 31, 2024
and March 31, 2023 (model used: Black Scholes valuation model)

March 31, 2024 March 31, 2023
GESP GESP
Dividend yield (%) 0.00% 0.00%

Expected volatility (%) 54.78%-61.08% 53.67%-55.71%
Risk–free interest rate (%) 6.75%-6.95% 6.28%-6.77%
Expected life of share options 6-9 years 6-9 years
336

CIN : L93030DL2010PLC198141
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 also not necessarily be the actual outcome.
There are no market performance conditions existing as at March 31, 2024 and March 31, 2023.
32 Right-of-use asset and leases
Set out below are the carrying amounts of right-of-use assets recognised and the movements during the year:
As at April 01, 2022 26
Additions 150
Deletions (12)
As at March 31, 2023 134
Additions 29
Deletions (1)
As at March 31, 2024 123
Set out below are the carrying amounts of lease liabilities recognised and the movements during the year:
As at April 01, 2022 31
Additions 140
Deletions (15)
Payments (13)
As at March 31, 2023 157
Additions 29
Deletions (2)
Payments (51)
As at March 31, 2024 149
The following is the break-up of current and non-current lease liabilities:

(INR crores)
March 31, 2024 March 31, 2023
Current lease liabilities 42 31
Non-current lease liabilities 107 126
337

CIN : L93030DL2010PLC198141
The following are the amounts recognised in the statement of profit and loss:
(INR crores)
March 31, 2024 March 31, 2023
Depreciation expense of right-of-use assets 39 30
Total 54 41
The table below provides details regarding the contractual maturities of lease liabilities on an undiscounted
basis:
(INR crores)
March 31, 2024 March 31, 2023

One to five years 120 149
More than five years - -
The Company does not face a liquidity risk with regard to its lease liabilities as the current assets are sufficient
to meet the obligations related to lease liabilities as and when they fall due.
Rental expense recorded for short-term leases are INR 8 crores (March 31, 2023: INR 10 crores) and for low
value assets are INR 3 crores (March 31, 2023: INR 1 crore).
The aggregate depreciation on right-of-use assets has been included under depreciation and amortisation
expense in the standalone statement of profit and loss.
The weighted average incremental borrowing rate applied to lease liabilities is 11%.
33 Fair value of financial instruments assets and liabilities
(a) Financial instrument by category
The carrying value and fair value of financial instruments by categories as at March 31, 2024 are as follows:

income
Assets:
Bank balances other than cash and cash equivalents
278 - - 278
(refer note 9)
- Mutual funds - 814 - 814
338

CIN : L93030DL2010PLC198141
Investment (non-current) (refer note 5) (other than in

subsidiary)
- Government securities - - 2,467 2,467
- Debentures or bonds - - 5,675 5,675
Loans (refer note 10) - - - -
Total 3,325 814 10,413 14,552
Liabilities:
Total 1,177 - - 1,177
The carrying value and fair value of financial instruments by categories as at March 31, 2023 are as follows:

income
Assets:
Bank balances other than cash and cash equivalents
276 - - 276
(refer note 9)
- Mutual funds - 2,885 - 2,885
Investment (non-current) (refer note 5) (other than in
subsidiary )
Loans (refer note 10) 958 - - 958
Total 8,696 2,885 2,213 13,794
Liabilities:
Total 812 - - 812
* The equity securities are not held for trading and the Company has made an irrevocable election at initial recognition to recognise
changes in fair value through OCI rather than profit or loss as these are strategic investments and the Company considered this to
be more relevant.
339

CIN : L93030DL2010PLC198141
(b) Fair value hierarchy

The Company uses the following hierarchy for determining and disclosing the fair value of financial instruments
by valuation technique using:
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 assets or liabilities that are not based on observable market data (unobservable inputs).
(INR crores)
Particulars Carrying Value Fair value measurement at end
of the reporting year using
Investments
- Mutual funds 814 814 - -
- Debentures or bonds 5,723 - 5,723 -
- Government securities 2,467 - 2,467 -
(INR crores)
Level 1 Level 2 Level 3
Assets
Investments
- Mutual funds 2,885 2,885 - -
- Debentures or bonds 50 - 50 -
There were no transfers between Level 1 and Level 2 fair value measurements during the year ended March 31, 2024 and March 31,
2023.
Fair value hierarchy of assets and liabilities measured at amortised cost:

(INR crores)
At March 31, 2024
Financial assets
At March 31, 2023
Financial assets
340

CIN : L93030DL2010PLC198141

Investment (non-current) (refer note 5) (other than
in subsidiary )
The following methods / assumptions were used to estimate the fair values:
i) The carrying value of cash and cash equivalents, other bank balances, trade receivables, loans, other
financial assets, trade payables and other financial liabilities approximate their fair value mainly due to
the short-term maturities of these instruments.
ii) Fair value of quoted mutual funds is based on the last available Net assets value (“NAV”) as at the reporting
date.
iii) The fair values of the unquoted investments in Equity instruments have been estimated using one or more
of the valuation techniques such as discounted cash flow method (“DCF”), comparable companies multiples
method (“CCM”), comparable companies transactions multiples method (“CTM”) and net asset value (“NAV”)
method.
iv) The investments in Government securities and debentures or bonds are valued by referring to market
inputs including quotes, trades, poll, primary issuances for securities and /or underlying securities issued
by the same or similar issuer for similar maturities and movement in benchmark security, etc.
v) The fair value of non-current other financial assets and loans are estimated by discounting future cash
flows using current rates applicable to instruments with similar terms, currency, credit risk and remaining
maturities.
Significant unobservable inputs used in Level 3 fair value along with its sensitivity:
Financial assets Valuation technique Significant unobservable inputs
Investment in Equity instruments Discounted Cash Weighted Average Cost of Capital
Flow method (“DCF”), (“WACC”), Terminal growth rate, Revenue
Comparable Companies multiple
Multiples method (“CCM”),
Comparable Companies
Transactions Multiples
Method (“CTM”)
(INR crores)
Financial assets Significant unobservable % change Significant Fair value
inputs unobservable inputs change
(-) 5 (5)
341

CIN : L93030DL2010PLC198141

(INR crores)
Financial assets Valuation technique Significant unobservable inputs
Investment in Equity Discounted Cash Flow method Weighted Average Cost of Capital (“WACC”),
instruments (“DCF”), Comparable Companies Terminal growth rate, Revenue multiple
Multiples method (“CCM”),
Comparable Companies Transactions
Multiples method (“CTM”)
(INR crores)
Financial assets Significant unobservable inputs % change Significant Fair value
unobservable inputs change
Investment in Equity Weighted average cost of capital (+) 5 (49)
instruments (“WACC”) (Ranging from 15% to 60%) (-) 5 57
(-) 5 (5)
Reconciliation of level 3 fair value measurements of financial assets is as follows:

(INR crores)
March 31, 2024 March 31, 2023
Deletions during the year - (518)
Transfer to retained earnings - change in fair value of BCPL - 175
investment on acquisition date
Gain / (loss) recognised in other comprehensive income during 60 (111)
the year
Balance at the end of the year 2,223 2,163
(c) Financial risk management

Financial risk factors
he Company’s activities exposes it to a variety of financial risks namely market risk, credit risk and liquidity
T
risk. The Company’s primary focus is to foresee the unpredictability of financial markets and seek to minimise
potential adverse effects on its financial performance.
Risk management is carried out by senior management for cash and cash equivalent, trade receivable,
investments, deposits with banks, foreign currency risk exposure and liquidity risk.
Market risk
Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because
of changes in market prices. Market risk comprises three types of risk: interest rate risk, foreign currency
risk and other price risk, such as equity price risk and commodity risk. The Company ensures optimisation of
cash through fund planning and robust cash management practices.
342

CIN : L93030DL2010PLC198141
i) Interest rate risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate
because of changes in market interest rates. The Company’s investments are predominantly held in government
securities, debenture or bonds, bank deposits and mutual funds.
Investment in bank deposits and certain government securities are measured at amortised cost and are fixed
interest rate bearing instruments and hence not subject to interest rate volatility. The Company also invests
in mutual fund schemes of leading fund houses, such investments are susceptible to market interest risks
which may impact the return and value of such investments. However, given the relatively short tenure of
underlying portfolio of the mutual fund schemes in which the Company has invested, such risk is not significant.
Investments in debenture or bonds and certain government securities are subject to interest rate risk which
are fair valued through other comprehensive income to recognise market volatility.
Sensitivity analysis
The following table demonstrate the sensitivity to a reasonably possible change in interest rates:
(INR crores)
Financial asset Exposure % change Change in fair Change in fair
in input value during the value during the
year ended year ended
March 31, 2024 March 31, 2023
Debenture or bonds 5,723 (+)1 (169) (1)
Government securities 2,467 (+)1 (102) -
A reduction in interest rates would have an equal and opposite effect on the company’s financial statements.
ii) Foreign currency risk
Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because
of changes in foreign exchange rates. The Company’s exposure to foreign currencies is negligible, with the
exception of the AED, where the net exposure amounts to 0 crore (March 31, 2023: 1 crore). The Company keeps
a regular track of all the changes in foreign currency rates to monitor and manage this foreign currency risk.
Credit risk
Credit risk refers to the risk of default on its obligation by the counterparty resulting in a financial loss. The
maximum exposure to the credit risk at the reporting date is primarily from trade receivables amounting
to INR 77 crores (March 31, 2023: INR 84 crores). Trade receivables are typically unsecured and are derived
from revenue earned from customers primarily located in India and Middle East. Credit risk has always been
managed by the Company through credit approvals, establishing credit limits and continuously monitoring the
creditworthiness of customers to which the Company grants credit terms in the normal course of business.
On account of adoption of Ind AS 109, the Company uses expected credit loss model to assess the impairment
loss or gain. The Company uses a provision matrix to compute the expected credit loss allowance for trade
receivables. The provision matrix takes into account available external and internal credit risk factors such as
the Company’s historical experience for customers and adjusted for forward-looking information.
The Company has established an allowance for impairment that represents its expected credit losses in respect
of trade and other receivables. The management uses a simplified approach for the purpose of computation
of expected credit loss for trade receivables and 12 months expected credit loss for other receivables further
an impairment analysis is performed at each reporting date on an individual basis for major parties.
Outstanding customer receivables are regularly and closely monitored. Basis historical trend, the Company
provides for any outstanding beyond 180 days. The trade receivables on the respective reporting dates are
343

CIN : L93030DL2010PLC198141
net off the allowance which is sufficient to cover the entire lifetime loss of sales recognised including those
that are currently less than 180 days outstanding.
The Company has made investments in government securities which carries sovereign rating and debenture
or bonds which are rated AAA; which do not have a default history.
The Company’s treasury maintains its cash and cash equivalents and deposits – with banks, financial and
other institutions, having a good reputation and past track record which are considered to carry a low credit
risk. Similarly, counterparties of the Company’s other receivables carry either negligible or very low credit
risk. Further, the Company reviews the creditworthiness of the counter-parties on the basis of its ratings and
financial strength for all the above assets on an ongoing basis and if required, takes necessary mitigation
measures.
The Company has established an allowance for impairment that represents its expected credit losses in
respect of investments in debt instruments. The management uses a 12 months expected credit loss approach
after taking into account the time value of money and other reasonable information available as a result of
past events, current conditions and forecasts of future economic conditions.
For trade receivable ageing, refer note 43.
Liquidity risk
Liquidity risk is defined as the risk that the Company will not be able to settle or meet its obligations on time.
The Company has established an appropriate liquidity risk management framework for the management of
the Company’s short, medium and long-term funding and liquidity requirements.
The Company’s principal sources of liquidity are cash and cash equivalents. The Company manages liquidity
risk by maintaining adequate cash reserves, by continuously monitoring forecast and actual cash flows and
by matching the maturity profiles of financial assets and liabilities. Accordingly, no liquidity risk is perceived.
March 31, 2024:
(INR crores)
Particulars Less than 1 year 1-5 years More than 5 years Total
Lease liabilities (undiscounted value) 55 120 - 175
(refer note 32)
Other financial liabilities 547 - - 547
March 31, 2023:
(INR crores)
Particulars Less than 1 year 1-5 years More than 5 years Total
Lease liabilities (undiscounted value) 46 149 - 195
(refer note 32)
Other financial liabilities 289 - - 289
Capital management
For the purpose of the Company’s capital management, capital includes issued equity capital, share premium
and all other equity reserves attributable to the equity shareholders of the Company. The primary objective of
the Company’s capital management is to maximise the shareholder value. As at March 31, 2024, the Company
has no debt, therefore, there are no externally imposed capital requirements.
344

CIN : L93030DL2010PLC198141
34 Related party disclosures

Names of related parties and related party relationship
Related parties under Ind AS 24
Subsidiary Zomato Hyperpure Private Limited
Zomato Ireland Limited
Zomato Media (Private) Limited, Sri lanka
Zomato Middle East Fz - LLC
Carthero Technologies Private Limited
TongueStun Food Networks Private Limited
Zomato Entertainment Private Limited
Zomato Local Services Private Limited
Zomato Foods Private Limited
Zomato Payments Private Limited
Zomato Financial Services Limited (w.e.f. February 25, 2022)
Blink Commerce Private Limited (formerly known as Grofers India Private Limited)
(w.e.f. August 10, 2022)
PT. Zomato Media Indonesia (till March 21, 2024)
Zomato Chile SpA (till September 29, 2023)
Zomato Media Portugal, Unipessoal, Lda (till July 27, 2023)
Zomato New Zealand Media Private Limited (till June 22, 2023)
Step down subsidiary Zomato Internet Hizmetleri Ticaret Anonim Sirketi

Gastronauci Sp z.o.o
Zomato, Inc.
Zomato Slovakia S.R.O
Zomato Malaysia SDN. BHD.
Zomato Netherlands B.V.
Zomato Philippines Inc.
Zomato Internet LLC, Qatar
Delivery 21 INC
Zomato Vietnam Company Limited (till February 02, 2024)
Zomato Ireland Limited - Jordan (closed w.e.f. March 12, 2023)
Lunchtime. cz s.r.o (till February 06, 2024)
Zomato Australia Pty Limited (till June 11, 2023)
345

CIN : L93030DL2010PLC198141

Trust under control of Foodie Bay Employees ESOP Trust
the Company Myfri Benefit Trust (till June 09, 2022)
Joint venture Zomato Media WLL (till October 25, 2022)
Associate of subsidiary ZMT Europe, LDA (till November 03, 2023)
Key Management Deepinder Goyal (Managing Director and Chief Executive Officer)
Personnel (“KMP”) Kaushik Dutta (Chairman and Independent Director)
Namita Gupta (Independent Director)
Douglas Lehman Feagin (Nominee director) (resigned as nominee director w.e.f.
February 09, 2023)
Sanjeev Bikhchandani (Nominee Director)
Gunjan Tilak Raj Soni (Independent Director)
Aparna Popat Ved (Independent Director)
Sutapa Banerjee (Independent Director)
Akshant Goyal (Chief Financial Officer)
Sandhya Sethia (Company Secretary)
Other related party

Entity controlled Airveda Technologies Private Limited
by KMP
346
CIN : L93030DL2010PLC198141

(INR crores)
Nature of Transactions Key Management Personnel Subsidiary/ Step down Joint Venture Other related parties Total
subsidiary
March 31, March 31, March 31, March 31, March 31, March 31, March 31, March 31, March 31, March 31,
2024 2023 2024 2023 2024 2023 2024 2023 2024 2023
Remuneration to KMP
Salaries and other employee benefits (1) (2) 170 376 - - - - - - 170 376
(3)
Directors remuneration and sitting fees 2 2 - - - - - - 2 2
Reimbursement of expenses (KMP) - 0 - - - - - - - 0
(1) Remuneration to the key managerial personnel does not include the provisions made for gratuity and leave encashment, as they are determined on an actuarial basis for the
Company as a whole.
(2) Includes a charge of INR 169 crores (March 31, 2023 : INR 375 crores) towards share based payment expense.
Company Overview
(3) At year end March 31, 2024, remuneration and sitting fees payable to Directors is INR 0 crore ( March 31, 2023: INR 1 crore)
Investment in subsidiaries
Zomato Hyperpure Private Limited - - 700 600 - - - - 700 600
Zomato Entertainment Private Limited - - 54 - - - - - 54 -
Zomato Local Services Private Limited - - 8 0 - - - - 8 0
Zomato Payments Private Limited - - 20 19 - - - - 20 19
Zomato Financial Services Limited - - 4 9 - - - - 4 9
Statutory Reports
Blink Commerce Private Limited - - 750 1,650 - - - - 750 1,650

Investment written off / disposal in
subsidiaries & Joint Venture
Zomato Ireland Limited - - 161 0 - - - - 161 0
Zomato Media WLL - - - - - 0 - - - 0
Zomato NZ Media Pvt. Ltd. - - 28 - - - - - 28 -
Zomato Media Portugal, Unipessoal Lda - - 40 - - - - - 40 -
Zomato Chile SpA - - 6 - - - - - 6 -
PT. Zomato Media Indonesia - - 14 - - - - - 14 -
Investment/(reversal) from subsidiaries / step
down subsidiaries on account of grant/lapse
of ESOPs
Zomato Hyperpure Private Limited - - - 3 - - - - - 3
Zomato Entertainment Private Limited - - - 0 - - - - - 0
347
CIN : L93030DL2010PLC198141

(INR crores)
subsidiary
2024 2023 2024 2023 2024 2023 2024 2023 2024 2023
Zomato Middle East FZ LLC - - 1 1 - - - - 1 1

Zomato Payments Private Limited - - - 1 - - - - - 1
Recoverable from subsidiaries on account of
grant/lapse of ESOPs
Zomato Entertainment Private Limited - - 3 0 - - - - 3 0
Company Overview

Blink Commerce Private Limited - - 152 40 - - - - 152 40
Zomato Local Services Private Limited - - 0 - - - - - 0 -
Remittance of taxes on exercise of Employee
Stock Option Plans (ESOPs)
Carthero Technologies Private Limited - - 4 1 - - - - 4 1
Tonguestun Food Networks Private Limited - - 0 0 - - - - 0 0
Statutory Reports

Zomato Foods Private Limited - - 0 - - - - - 0 -
Zomato Financial Services Limited - - 0 - - - - - 0 -
Blink Commerce Private Limited - - 87 - - - - - 87 -
Provision reversed on disposal/written off
investments
Zomato Ireland Limited - - (161) (0) - - - - (161) (0)
Zomato Media WLL - - - - - (0) - - - (0)
Zomato NZ Media Pvt. Ltd. - - (32) - - - - - (32) -
Zomato Media Portugal, Unipessoal Lda - - (41) - - - - - (41) -
Zomato Chile SpA - - (6) - - - - - (6) -
PT. Zomato Media Indonesia - - (14) - - - - - (14) -
348
CIN : L93030DL2010PLC198141

(INR crores)
subsidiary
2024 2023 2024 2023 2024 2023 2024 2023 2024 2023
Revenue from operations

Royalty income
Zomato, Inc. - - - 0 - - - - - 0
Company Overview
Zomato Payments Private LImited - - - 0 - - - - - 0

Facilitation, technology support, onboarding,
support fee & Advertisement
Service revenue
Reimbursement for delivery partner fees
Statutory Reports

Income from cross charge
Tonguestun Food Networks Private Limited - - - (0) - (0)
Zomato Payments Private LImited - - 1 1 - - - - 1 1
Zomato, Inc. - - 0 0 - - - - 0 0
Recovery of expenses from
Zomato Middle East FZ LLC - - - 14 - - - - - 14
349
CIN : L93030DL2010PLC198141

(INR crores)
subsidiary
2024 2023 2024 2023 2024 2023 2024 2023 2024 2023

Payment made on behalf of
Company Overview

Tonguestun Food Networks Private Limited - - 0 2 - - - - 0 2
Zomato Foods Private Limited - - 0 0 - - - - 0 0
Statutory Reports

Zomato Middle East FZ LLC - - 0 (0) - - - - 0 (0)
Blink Commerce Private Limited - - 0 - - - - - 0 -
Collected on behalf of
Blink Commerce Private Limited - - 1,176 611 - - - - 1,176 611
Zomato Payments Private LImited - - 0 - - - - - 0 -
Collected by - on behalf of the Company

Carthero Technologies Private Limited - - - 0 - - - - - 0
350
CIN : L93030DL2010PLC198141

(INR crores)
subsidiary
2024 2023 2024 2023 2024 2023 2024 2023 2024 2023

Payment made by - on behalf of the Company
Zomato, Inc. - - 0 1 - - - - 0 1
Expense charged on Company by
Zomato Middle East FZ LLC
- Legal and professional fee (cross charge) - - 1 15 - - - - 1 15
Company Overview
Zomato Hyperpure Private Limited

- Marketing expense - - - 0 - - - - - 0
- Consumables - - 0 0 - - - - 0 0
- Loaned staff expenses - - 0 - - - - - 0 -
- Leave encashment & Gratuity - - 1 - - - - - 1 -
Zomato Payments Private LImited
- Payment aggregation - - 5 6 - - - - 5 6
Blink Commerce Private Limited
Statutory Reports
- Advertisement expense - - 7 1 - - - - 7 1
Zomato Entertainment Private Limited
- Sponsorship expenses - - - 5 - - - - - 5
- Advertisement expense - - 0 - - - - - 0 -
Zomato Financial Services Limited
- Leave encashment & Gratuity - - - 0 - - - - - 0
Zomato Local Services Private Limited
- Leave encashment & Gratuity - - 0 0 - - - - 0 0
Airveda Technologies Private Limited
- Procurement of AQI monitoring devices &
- - - - - - 0 0 0 0
subscription
351
CIN : L93030DL2010PLC198141

(INR crores)
subsidiary
2024 2023 2024 2023 2024 2023 2024 2023 2024 2023
Sutapa Banerjee
- Professional services 0 - - - - - - - 0 -
Interest on loan
Company Overview
Loan given to subsidiary/associate during the

year
Loan repaid by subdidiary
Zomato Hyperpure Private Limited - - (200) (50) - - - - (200) (50)
Blink Commerce Private Limited - - (750) (375) - - - - (750) (375)
Statutory Reports
Zomato Local Services Private Limited - - (0) - - - - - (0) -

Zomato Entertainment Private Limited - - (8) - - - - - (8) -
Net balance written off / (provision reversal)
from subsidiary
Tonguestun Food Networks Private Limited - - 18 - - - - - 18 -
Tonguestun Food Networks Private Limited - - (19) - - - - - (19) -
Other balances receivable/payable at the end

of the period:
Loans and advances
Blink Commerce Private Limited - - - 750 - - - - - 750
352
CIN : L93030DL2010PLC198141
(INR crores)
subsidiary
2024 2023 2024 2023 2024 2023 2024 2023 2024 2023
Interest accrued on loan

Trade receivables
Zomato, Inc. - - - 0 - - - - - 0
Tonguestun Food Networks Private Limited - - - 20 - - - - - 20
Company Overview

Zomato Financial Services Limited - - - 0 - - - - - 0
Carthero Technologies Private Limited - - - 0 - - - - - 0
Zomato Philippines Inc. - - - - - - - - - -
Statutory Reports
Provision for doubtful loans and trade

receivables
Trade payables
Zomato Middle East FZ LLC - - - 3 - - - - - 3
Zomato Philippines Inc. - - 0 0 - - - - 0 0
Zomato Payments Private LImited - - - 0 - - - - - 0
Zomato Local Services Private Limited - - - 0 - - - - - 0
Zomato, Inc. - - 0 0 - - - - 0 0
Sutapa Banerjee 0 - - - - - - - 0 -
353
CIN : L93030DL2010PLC198141

(INR crores)
subsidiary
2024 2023 2024 2023 2024 2023 2024 2023 2024 2023
Other financial liabilities

Zomato, Inc. - - 0 - - - - - 0 -
Zomato Philippines Inc. - - 0 - - - - - 0 -
Other financial assets
Zomato Payments Private LImited - - 1 - - - - - 1 -
Company Overview

Zomato Foods Private Limited - - 0 - - - - - 0 -
Zomato Hyperpure Private Limited - - 17 - - - - - 17 -
Zomato Middle East FZ LLC - - 0 - - - - - 0 -
Statutory Reports
Additional disclosure required under Sec 186(4) of the Companies Act 2013
(INR crores)
Name of related parties Rate of Interest Nature March 31, 2024 March 31, 2023
Blink Commerce Private Limited 15.00% - 750

Zomato Hyperpure Private Limited 6.88% - 100
Zomato Hyperpure Private Limited 7.03% Loan for working - 100
Zomato Entertainment Private Limited 6.96% capital - 4
Zomato Entertainment Private Limited 7.22% - 3
Zomato Entertainment Private Limited 7.09% - 1
- 958
354

CIN : L93030DL2010PLC198141
35 Income Tax
(a) Major components of tax expense/(income):
(INR crores)
March 31, 2024 March 31, 2023
(i) Current Income Tax:
Current tax expense 1 0
Adustment for current tax of prior period - -
(ii) Deferred Tax:
Tax expense on origination / reversal of temporary
- -
differences
Income tax expense reported in the Statement of profit and
1 0
loss
(b) Reconciliation of accounting profit and tax expense:

(INR crores)
March 31, 2024 March 31, 2023
Profit before income tax 1,411 117
India's statutory income tax rate 25.168% 25.168%
Expected income tax expense 355 29
Other non deductible items 1 4
Other temporary differences on which deferred tax not created /
(37) (17)
utilised
Set off against brought forward losses and unabsorbed
(318) (16)
depreciation
Income tax expense reported in the Statement of Profit and
1 0
Loss
(c) Items for which no deferred tax asset is recognised in the Balance Sheet:
As at the year ended on March 31, 2024 and March 31, 2023, the Company is having deductible temporary
differences, brought forward losses and unabsorbed depreciation under the tax laws. However in the absence
of reasonable certainty of realization, deferred tax assets have not been created. The unused tax losses expire
upto 8 years.
355

CIN : L93030DL2010PLC198141
(INR crores)
Particulars Expiry Date For the year ended For the year ended
March 31, 2024 March 31, 2023
Deferred tax assets / (liabilities) arising on
account of:
Business loss March 31, 2026 - 58
Business loss March 31, 2027 - 447
Business loss March 31, 2028 1,877 1,929
Business loss March 31, 2029 644 644
Business loss March 31, 2030 1,030 1,043
Long term capital loss March 31, 2029 4 4
Long term capital loss March 31, 2031 0 0
Long term capital loss March 31, 2032 250 -
Unabsorbed depreciation No expiry period 154 860
Other temporary differences No expiry period (597) (470)
Total 3,362 4,515
36 Segment information :
The Company publishes the standalone financial statements along with the consolidated financial statements,
therefore in accordance with Ind AS 108, ‘Operating Segments’, the Company has disclosed the segment
information only in the consolidated financial statements.
37 Details of dues to micro and small enterprises as defined under MSMED Act 2006 :
(INR crores)
a) The principal amount and the interest due thereon remaining unpaid
to any supplier as at the end of each accounting year
Principal amount due to micro and small enterprises 5 3
Interest due on above - -
b) The amount of interest paid by the buyer in terms of section 16 of the
MSMED Act 2006 along with the amounts of the payment made to the - -
supplier beyond the appointed day during each accounting year
c) The amount of interest due and payable for the period of delay in
making payment (which have been paid but beyond the appointed day
- -
during the year) but without adding the interest specified under the
MSMED Act 2006
d) The amount of interest accrued and remaining unpaid at the end of
0 0
each accounting year
e) The amount of further interest remaining due and payable even in the
succeeding years, until such date when the interest dues as above are
0 0
actually paid to the small enterprise for the purpose of disallowance
as a deductible expenditure under section 23 of the MSMED Act 2006
Dues to micro and small enterprises have been determined to the extent such parties have been identified on
the basis of information collected by the Management.
356

CIN : L93030DL2010PLC198141
38 Capital and other commitments

(a) The Company has commitments for purchase / sale orders which are issued after considering requirements
per operating cycle for purchase / sale of goods and services, employee benefits. The Company does not
have any long term commitment or material non-cancellable contractual commitments/contracts which
might have a material impact on the financial statements.
(b) The Company has estimated amount of contract remaining to be executed on capital account not provided
for, net of advances as at March 31, 2024 is 2 crores (March 31, 2023: 1 crore).
39 Contingent Liability not provided for:
Claims against the Company not acknowledged as debt :
(a) In December 2023, the Company received Show Cause Notices (SCNs) from the GST authorities requiring
the Company to show cause why a tax liability of INR 420 crores along with the interest and penalty for
the period from October 29, 2019 to March 31, 2022 should not be demanded and recovered. The alleged
amount is calculated on the delivery charges collected by the Company from the end user on behalf of the
delivery partners. The Company, supported by the external independent expert’s advice, is of the view that
it has a strong case on merits.
(b) The Company has certain pending litigations pertains to consumer cases and other legal cases amounting
to INR 10 crores (March 31, 2023: INR 4 crores).
(c) During the previous year ended March 31, 2022, the Company was served with a copy of a writ petition filed
by the Indian Federation of APP-Based Transport Workers (IFAT) and two others, which is in the nature
of a public interest litigation before the Hon’ble Supreme Court of India. The writ petition has been filed
against 5 ministries of the Union of India (i.e. Ministry of Labour and Employment, Ministry of Commerce
and Industry, Ministry of Consumer Affairs, Food and Public distribution, Ministry of Road Transport and
Highways, Ministry of Electronic and Information Technology) and aggregators such as ANI Technologies
Pvt Ltd (Ola), Uber India Systems Pvt. Ltd. (Uber) and Bundl Technologies Pvt. Ltd. (Swiggy) and Zomato
Limited have been made a party to the writ petition. The petitioners have sought several alternative reliefs,
including a declaration to recognise app based/ gig workers as ‘workers’ under various labour/social
legislations; directions to the Government of India for promulgating schemes extending social security
benefits to gig/ app based workers which schemes are yet to be formulated. At this stage, there is no
specific obligation that can be ascribed to the Company pending the Hon’ble Court’s final decision in the
Writ Petition.
(d) During the year ended March 31, 2022, the Company received an order under Section 26(1) of the Competition
Act, 2002, under which the Hon’ble Competition Commission of India (CCI) initiated an investigation into
certain aspects of the Company’s business. The Company continues to work closely with the Hon’ble CCI
to assist them with their inquiry and explain to the Hon’ble CCI why all its practices are in compliance with
competition laws and do not have any adverse effect on competition in India.
40 During the previous year ended March 31, 2023, the Board of Directors of the Company on June 24, 2022
had approved acquisition of 33,018 (thirty three thousand and eighteen) equity shares of Blink Commerce
Private Limited (“BCPL”) (formerly known as Grofers India Private Limited) for a total purchase consideration
of INR 4,448 crores at a price of INR 13,46,986.01 per equity share by issuance and allotment of 62,85,30,012
(sixty two crores eighty five lakhs thirty thousand and twelve) fully paid-up equity shares of the Company
having face value of INR 1/- (Indian Rupee One) each at a price of INR 70.76 per equity share which was
357

CIN : L93030DL2010PLC198141
the price determined in accordance with chapter V of the Securities and Exchange Board of India (Issue
of Capital and Disclosure Requirements) Regulations, 2018 (”SEBI ICDR Regulations”), for a consideration
other than cash (for discharge of entire purchase consideration) from the shareholders of BCPL.
On August 10, 2022, the Company completed the above acquisition by issuing 62,85,30,012 fully paid-up
equity shares of the Company having face value of INR 1/- (Indian Rupee One). The same was accounted
using the share price of the Company as on the acquisition date of INR 55.45 per equity share which
amounted to INR 3,485 crores.Total investment of INR 3,828 crores includes INR 3,485 crores for which
shares were issued as mentioned above and INR 343 crores of fair value of existing ownership interest of
8.96% in BCPL as on date of acquisition.
Additionally, as on August 10, 2022, Zomato Hyperpure Private Limited, material subsidiary of the Company
had acquired the warehousing and ancillary services business (“Warehousing division”) of Hands on Trades
Private Limited (“HOTPL”, fellow subsidiary of BCPL until August 9, 2022), for an aggregate consideration
of INR 61 crores paid in cash.
41 The Company has made long term strategic investments in certain subsidiary companies, which are in
their initial/developing stage of operation and would generate growth and returns over a period of time.
These subsidiaries have incurred significant expenses for building the brand, market share and operations
which have added to the losses of these entities. The parent has committed to provide support to each of
its subsidiaries in the event they are unable to meet their individual liabilities.
Owing to the losses incurred by Zomato Hyperpure Private Limited (“ZHPL”), Blink Commerce Private
Limited (”BCPL”) (formerly known as Grofers India Private Limited) and Zomato Entertainment Private
Limited (”ZEPL”) (accumulated losses as of March 31, 2024 being INR 643 crores and INR 70 crores for
ZHPL and ZEPL respectively and losses of INR 1,399 crores for BCPL during the period August 10, 2022
to March 31, 2024) (“subsidiary companies”), the Company carried out an impairment assessment basis
fair value of the entity determined by a valuer using discounted future cashflows approach. Based on the
review of the performance and future plan of the subsidiary companies, the Company concluded that no
impairment is required as on March 31, 2024. The same was noted by the Audit Committee and the Board.
During the year ended March 31, 2024 and March 31, 2023, the Company conducted impairment tests of
its investments in subsidiaries. The recoverable value of the investments in subsidiaries are estimated
using Discounted cash flow method (“DCF”). The significant unobservable inputs used in the estimation
of recoverable value together with a quantitative sensitivity analysis as at March 31, 2024 and March 31,
2023 are as shown below:
(INR crores)
Significant unobservable inputs % change Change in
in input recoverable value
Weighted average cost of capital (+) 5 (1,021)
("WACC") (Ranging from 23% to 34%) (-) 5 1,175
Terminal growth rate (+) 5 55
(Ranging from 4% to 5%) (-) 5 (54)
358

CIN : L93030DL2010PLC198141
(INR crores)
Significant unobservable inputs Sensitivity Change in
level in % recoverable value
Weighted average cost of capital (+) 5 (830)

(“WACC”) (Ranging from 14% to 28%)
(-) 5 965
Terminal growth rate (+) 5 64
(-) 5 (63)
42 Trade payable ageing :

(INR crores)
due* 1 year 3 years
Micro enterprises and small 0 5 - - - 5

enterprises
Others 443 31 1 1 - 476

(INR crores)
due* 1 year 3 years
Micro enterprises and small 1 2 - - - 3

enterprises
Others 317 42 3 1 - 363
* represents unbilled trade payables
359

CIN : L93030DL2010PLC198141
43 Trade receivable - ageing :

(INR crores)
due date of payment

considered good*
Undisputed Trade Receivables – - - 3 5 - - 8
credit impaired
(INR crores)
due date of payment


considered good*
Undisputed Trade Receivables – - - 2 1 19 - 22
credit impaired
* The amount of not yet due includes unbilled dues of INR 6 crores and INR 4 crores as at March 31, 2024 and March 31, 2023 respectively.
44 During the year ended March 31, 2022, the Company completed initial public offer (IPO) of 1,23,35,52,631
equity shares of face value of INR 1 each at an issue price of INR 76 per share, comprising fresh issue of
1,18,42,10,526 shares and offer for sale of 4,93,42,105 by Info Edge (India) Limited (existing shareholder).
Pursuant to the IPO, the equity shares of the Company were listed on National Stock Exchange of India
Limited (NSE) and BSE Limited (BSE) on July 23, 2021.
The Company received an amount of INR 8,728 crores (net of IPO expenses of INR 272 crores) from proceeds
out of fresh issue of equity shares which were fully utilised during the previous financial year ended
March 31, 2023.
(INR crores)
Objects of the issue as per Amount to be utilised as Utilisation up to Unutilised amount as

prospectus per prospectus March 31, 2023 on March 31, 2023
1. Funding organic and
6,750 6,750 -
inorganic growth initiatives
2. General corporate purposes 1,978 1,978 -
Net Proceeds 8,728 8,728 -
360
CIN : L93030DL2010PLC198141
45 Relationship with struck off companies:

(INR crores)
1 Crudex Lng Petroleum Private Limited Advance from customer Customer 0 -

2 Dietshala Private Limited Advance from customer Customer - 0
3 Flavoursking Hospitality Private Limited Advance from customer Customer 0 0
4 Golmooorrich Food Services Private Limited Advance from customer Customer 0 -
5 Govindkripa Reflectservices Private Limited Advance from customer Customer 0 -
6 Insp Hospitality Private Limited Advance from customer Customer 0 -
7 Kerman'S Hospitality Service Private Limited Advance from customer Customer 0 0
Company Overview
8 My Muscle Meal Private Limited Advance from customer Customer 0 0

9 Navgrah Hospitality Private Limited. Advance from customer Customer 0 0
10 Nozama Hospitality (Opc) Private Limited Advance from customer Customer 0 0
11 Sarvaripati Shivay Catering And Hospitality Private Advance from customer Customer - 0
Limited
12 Swayam Comicbuk Private Limited Advance from customer Customer 0 -
13 Thodaaur Services Private Limited Advance from customer Customer - 0
14 99 Healthlounge Private Limited Payable to merchant Merchant 0 0
Statutory Reports
15 Aalbaik India Private Limited Payable to merchant Merchant 0 0

16 Abhinil Hospitality Private Limited Payable to merchant Merchant 0 0
17 Adhya Hospitality Services Private Limited Payable to merchant Merchant 0 0
18 Alhabibi Food Private Limited Payable to merchant Merchant - 0
19 Arhaam Fine Dine Private Limited Payable to merchant Merchant 0 0
20 Asdev Hotels Private Limited Payable to merchant Merchant - 0
21 Blue Whale Ventures Private Limited Payable to merchant Merchant 0 0
22 Bonjour Bonheur Holidays Private Limited Payable to merchant Merchant 0 0
23 Cocoteros Hospitality Private Limited Payable to merchant Merchant 0 -
24 Convenant Ark Ventures Private Limited Payable to merchant Merchant 0 0
25 Crudex Lng Petroleum Private Limited Payable to merchant Merchant 0 -
26 Dalchini (Opc) Private Limited Payable to merchant Merchant 0 0
361
CIN : L93030DL2010PLC198141
(INR crores)
27 Ddoy Exports And Traders Private Limited Payable to merchant Merchant - 0

28 Deja Brew Cafe Private Limited Payable to merchant Merchant - 0
29 Dosursu Food Products Private Limited Payable to merchant Merchant 0 0
30 Fish N Chips Foods Private Limited Payable to merchant Merchant - 0
31 Greenox Food And Beverages Private Limited Payable to merchant Merchant 0 -
32 Kanir Consturctions Private Limited Payable to merchant Merchant 0 -
33 Keepmefit Wellness Private Limited Payable to merchant Merchant 0 0
34 Khanabadosh India Private Limited Payable to merchant Merchant 0 -
35 Kin Dwell Hospitality Private Limited Payable to merchant Merchant 0 0
Company Overview
36 Krisa Hospitality Private Limited Payable to merchant Merchant 0 -

37 Kroods Technologies Private Limited Payable to merchant Merchant 0 -
38 Marshall Hotels Private Limited Payable to merchant Merchant 0 0
39 Megros Services Private Limited Payable to merchant Merchant 0 0
40 Mntr Yummies Pizza Mart Private Limited Payable to merchant Merchant 0 -
41 My Muscle Meal Private Limited Payable to merchant Merchant 0 0
42 Newayz Hospitality & Support Services Private Limited Payable to merchant Merchant 0 0
Statutory Reports
43 Nozama Hospitality (Opc) Private Limited Payable to merchant Merchant - 0

44 Npc Foods (Opc) Private Limited Payable to merchant Merchant - 0
45 Omgourmet Nutrition Private Limited Payable to merchant Merchant 0 0
46 Pan Club Hotels Private Limited Payable to merchant Merchant 0 0
47 Peedampalli Brothers Ventures Private Limited Payable to merchant Merchant - 0
48 Ranjit Mahaprabhu Gita (Opc) Private Limited Payable to merchant Merchant - 0
49 Rap Hotels & Resorts Private Limited Payable to merchant Merchant 0 -
50 Rpm Global Solutions Private. Limited Payable to merchant Merchant 0 0
51 S T Developers Co Private Limited Payable to merchant Merchant 0 -
52 Sarvaripati Shivay Catering And Hospitality Private Payable to merchant Merchant - 0
Limited
53 Simply Sweet Bakers Private Limited Payable to merchant Merchant 0 0
362
CIN : L93030DL2010PLC198141
(INR crores)
54 Star Gourmet Private Limited Payable to merchant Merchant 0 0

55 Thodaaur Services Private Limited Payable to merchant Merchant 0 0
56 Trofi Hospitality Private Limited Payable to merchant Merchant 0 0
57 Twenty Four Hour Cake Private Limited Payable to merchant Merchant - 0
58 Vanhog Restaurant & Cafe Private Limited Payable to merchant Merchant 0 0
59 Veshra Restaurant Private Limited Payable to merchant Merchant - 0
60 Vimora Food And Beverage India Private Limited Payable to merchant Merchant 0 -
61 Webplanet Iets Private Limited Payable to merchant Merchant 0 0
62 Snb Business Services Private Limited Trade payable Vendor - 0
Company Overview
63 Abhinil Hospitality Private Limited Trade receivables Customer - 0

64 Adhya Hospitality Services Private Limited Trade receivables Customer - 0
65 Baguette Salads Private Limited Trade receivables Customer 0 -
66 Bbq Central Hotels Private Limited Trade receivables Customer 0 -
67 Blue Whale Ventures Private Limited Trade receivables Customer - 0
68 Convenant Ark Ventures Private Limited Trade receivables Customer 0 0
69 Crispbread Confectioneries Private Limited Trade receivables Customer - 0
Statutory Reports
70 Crr Fnb Services Private Limited Trade receivables Customer - 0

71 Ddoy Exports And Traders Private Limited Trade receivables Customer - 0
72 Deepforest Private Limited Trade receivables Customer 0 -
73 Deja Brew Cafe Private Limited Trade receivables Customer - 0
74 Dosursu Food Products Private Limited Trade receivables Customer - 0
75 Dsquare Foods Private Limited Trade receivables Customer 0 -
76 Fish N Chips Foods Private Limited Trade receivables Customer - 0
77 Food Realm Private Limited Trade receivables Customer - 0
78 Greenox Food And Beverages Private Limited Trade receivables Customer 0 -
79 Harsha And Dushyanth Ventures Private Limited Trade receivables Customer - 0
80 Kakka Buvva Foods Private Limited Trade receivables Customer - 0
81 Kerman'S Hospitality Service Private Limited Trade receivables Customer 0 0
363
CIN : L93030DL2010PLC198141
(INR crores)
82 Khanabadosh India Private Limited Trade receivables Customer 0 -

83 Maa Bhook Lagi Food Services Private Limited Trade receivables Customer 0 0
84 Mahanirvana Hospitality Private Limited Trade receivables Customer 0 -
85 Mahsri Foods Private Limited Trade receivables Customer - 0
86 Megros Services Private Limited Trade receivables Customer - 0
87 Mirora Hotels And Restaurants Private Limited Trade receivables Customer - 0
88 Montage Retail Private Limited Trade receivables Customer 0 -
89 My Muscle Meal Private Limited Trade receivables Customer - 0
90 Newayz Hospitality & Support Services Private Limited Trade receivables Customer - 0
Company Overview
91 Nozama Hospitality (Opc) Private Limited Trade receivables Customer 0 -

92 Omgourmet Nutrition Private. Limited Trade receivables Customer - 0
93 Openhearth Hospitality Private Limited Trade receivables Customer - 0
94 Peedampalli Brothers Ventures Private Limited Trade receivables Customer 0 -
95 Red Chick-Bablu Gurung (Opc) Private Limited Trade receivables Customer 0 -
96 Relume Innovations Private Limited Trade receivables Customer 0 -
97 Simply Sweet Bakers Private Limited Trade receivables Customer 0 -
Statutory Reports
98 Terrafix Hospitality Private Limited Trade receivables Customer 0 -

99 Twenty Four Hour Cake Private Limited Trade receivables Customer 0 0
100 Veshra Restaurant Private Limited Trade receivables Customer 0 -
* Value less than INR 50,00,000
364
CIN : L93030DL2010PLC198141
46 Ratios :
Particulars Numerator Denominator March 31, 2024 March 31, 2023 Variance Reasons for Variance*
Current ratio (in Reallocation of investments from

Total current assets Total current liabilities 2.54 9.33 -73%
times) current to non-current
Earnings for debt service=
Debt service Net profit after taxes+ Non- Debt service= Interest
Ratio has improved as the Company's
coverage ratio (in cash operating expenses+ and lease payments + 36.65 57.64 -36%
profit has increased in current year
times) Interest+ Other non-cash Principal repayments
adjustments
Average shareholder’s Ratio has improved as the Company's
Return on equity (%) Net profits after taxes 6.29% 0.62% 911%
equity profit has increased in current year
Company Overview
The Company has no inventory of

Inventory turnover
Cost of goods sold Average Inventory 33.33 2.67 NA consumable items as on March 31,
ratio (in times)
2024
Trade receivable
Closing balance of Ratio has improved due to increase in
turnover ratio (in Revenue from operations 95.97 75.68 27%
trade receivable revenue from online ordering business.
times)
Trade payable
Statutory Reports
Purchase of services and Closing balance of

turnover ratio (in 7.92 8.59 -8% -
other expenses trade payable
times)
Net capital turnover Ratio has improved due increase in
Revenue from operations Working capital 1.33 0.65 105%
ratio (in times) revenue from online ordering business.
Ratio has improved on account of
Revenue from
Net profit (%) Net profit 20.71% 2.48% 734% increase in revenue and profit in
operations
current year
Capital employed=
Return on Capital Earnings before interest Tangible net worth+ Ratio has improved as the Company's
6.44% 0.67% 862%
Employed (%) and taxes Total debt+ Deferred profit has increased in current year
tax (assets)/liabilities
365
CIN : L93030DL2010PLC198141
Particulars Numerator Denominator March 31, 2024 March 31, 2023 Variance Reasons for Variance*
Return on
Investment (%)
(a) Investment Income generated from
Time weighted Ratio has improved due to increase in
in Equity investment designated at 2.76% (4.65%) -159%
average investments valuation of Investments.
instruments FVTOCI
(b) Return on
Time weighted Ratio has improved due to change in
investment Investment income 7.03% 4.93% 43%
average investments asset allocation & higher yields.
(treasury funds)
(c) Return on
investment
Company Overview
Investment income
(treasury funds Time weighted Ratio has improved due to change in
including realised & 6.95% 4.93% 41%
including mark to average investments asset allocation & higher yields.
unrealised gains
market through
OCI)
* Ratios variances have been explained for any change by more than 25% as compared to the previous year.
Statutory Reports
366

CIN : L93030DL2010PLC198141
47 The Ministry of Corporate Affairs (MCA) introduced certain requirements, where accounting softwares
used by the Company should have a feature of recording audit trail of each and every transaction (effective
April 01, 2023). The Company has an IT environment which is adequately governed with General information
technology controls (GITCs) for financial reporting process and the Company has assessed all of its IT
applications that are relevant for maintaining books of accounts.
The Company has used accounting software for maintaining its books of account for the year ended
March 31, 2024 which has a feature of recording audit trail (edit log) facility and the same has operated
throughout the year for all relevant transactions recorded in the software, except that:
· I n respect of certain inhouse developed software, the audit trail feature was not enabled at the database
level to log any direct changes to the database.
· In respect of a software used for payroll processing and purchase records (implemented w.e.f August
17, 2023) in which the database is maintained by a third party software service provider, the Company is
in the discussion with a third party service provider to implement audit trail feature at database level.
The Company has not noted any tampering of the audit trail feature in respect of the software for which
the audit trail feature was operating.
48 (a) No funds (which are material either individually or in the aggregate) have been advanced or loaned or
invested (either from borrowed funds or share premium or any other sources or kind of funds) by the
Company to or in any other person(s) or entity(s), including foreign entity(s) (“Intermediaries”), with
the understanding, whether recorded in writing or otherwise, that the Intermediary shall, directly
or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on
behalf of the Company (“Ultimate Beneficiaries”) or provide any guarantee, security or the like on
behalf of the Ultimate Beneficiaries.
(b) o funds (which are material either individually or in the aggregate) have been received by the
N
Company from any person(s) or entity(s), including foreign entities (“Funding Parties”), with the
understanding, whether recorded in writing or otherwise, that the Company shall, directly or
indirectly, lend or invest in other persons or entities identified in any manner whatsoever by or on
behalf of the Funding Party (“Ultimate Beneficiaries”) or provide any guarantee, security or the like
on behalf of the Ultimate Beneficiaries.
49 Recent pronouncements:
(a) The Ministry of Corporate Affairs (MCA) has notified Companies (Indian Accounting Standards)
Amendment Rules, 2023 dated March 31, 2023 to amend the following Ind AS which are effective for
annual periods beginning on or after April 01, 2023. The Company applied these amendments for the
first-time.
(i) Definition of Accounting Estimates - Amendments to Ind AS 8

The amendments clarify the distinction between changes in accounting estimates and changes
in accounting policies and the correction of errors. It has also been clarified how entities use
measurement techniques and inputs to develop accounting estimates.
367

CIN : L93030DL2010PLC198141
The amendments had no impact on the Company’s standalone financial statements.
(ii) Disclosure of Accounting Policies - Amendments to Ind AS 1

The amendments aim to help entities provide accounting policy disclosures that are more useful
by replacing the requirement for entities to disclose their ‘significant’ accounting policies with a
requirement to disclose their ‘material’ accounting policies and adding guidance on how entities
apply the concept of materiality in making decisions about accounting policy disclosures. The
amendments have had an minimal impact on the Company’s disclosures of accounting policies
and no impact on the measurement, recognition or presentation of any items in the Company’s
financial statements.
(iii) Deferred Tax related to Assets and Liabilities arising from a Single Transaction - Amendments to
Ind AS 12
The amendments narrow the scope of the initial recognition exception under Ind AS 12, so that it no
longer applies to transactions that give rise to equal taxable and deductible temporary differences such
as leases. The Company previously recognised for deferred tax on leases on a net basis. As a result of
these amendments, the Company has recognised a separate deferred tax asset in relation to its lease
liabilities and a deferred tax liability in relation to its right-of-use assets. Since, these balances qualify
for offset as per the requirements of Ind AS 12, there is no impact in the balance sheet.
(b) Standards issued/notified but not yet effective
There are no standards that are notified and not yet effective as on the date.

Sd/- Sd/- Sd/-
(DIN-02613583) (DIN-03328890)

Date: May 13, 2024 Date: May 13, 2024
Sd/- Sd/-
368

Zomato Annual Report 2023-24

Uploaded by

Copyright:

Available Formats

Zomato Annual Report 2023-24

Uploaded by

Document Information

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Zomato Annual Report 2023-24

Uploaded by

Copyright:

Available Formats

Annual Report 2023-24

OUR MISSION STATEMENT

OUR VISION STATEMENTS

Better food for more people

Make India malnutrition free

FY24 non-GAAP metrics

GOV (B2C business) Adjusted Revenue Adjusted EBITDA

INR 47,918 crore INR 13,545 crore INR 372 crore

FY24 GAAP metrics

Revenue EBITDA PAT

INR 12,114 crore INR 42 crore INR 351 crore

Our key businesses INR crore

value (GOV) Revenue EBITDA

Quick delivery (in <15 minutes)

(B2C businesses) 47,918 10,351 522

(All businesses) - 13,545 372

FY24 key metrics

INR 32,224 crore 753 million 18.4 million

Average monthly active

400k 247k 7.4 million

Everyday Legends Food on train Large Deals Healthy

Iconic parties Delivery at seat On large orders Curated dishes

Large order flee

by nutritionists and prepared by some of the finest restaurants

FY24 key metrics

GOV Orders Average monthly

INR 12,469 crore 203 million 5.1 million

Average GOV per day, # of stores

per store (Mar-24) (Mar-24)

INR 797k 526 4.8 million sqft

Highlights from our product assortment and category expansion -

Enables discovery, table reservation, and transactions for dining-out across

Customers can discover local restaurants by accessing reviews & ratings,

The ticketing platform has been launched in 13 cities in India, through a

Going-out GOV grew 136% YoY to INR 3,225 crore in FY24

FY24 Going-out highlights

Hyperpure is our B2B supplies business supplying quality food ingredients

and other products to restaurants and other B2B buyers.

Hyperpure is solving ‘sourcing’ for restaurants as the restaurant B2B

supplies market in India is highly fragmented and unorganized, leading to

inconsistency in product quality, availability and yield.

ingredients and other products. Hyperpure operates a 1P model (i.e., owns

inventory) where it sources directly from farmer producer organizations,

FY24 key metrics

INR 3,172 crore 76,561 0.7 million sq.ft.

serve its customers better. Key initiatives include:

expand margins and drive higher engagement with customers

immediate needs of customers

FY24 operational and financial highlights

GOV (B2C Business) Adjusted Revenue

FY22 FY23 FY24 FY22 FY23 FY24

Consolidated business turned Adjusted EBITDA, EBITDA and PAT

Adjusted EBITDA Profit after tax (PAT)

FY22 FY23 FY24 FY22 FY23 FY24

Adjusted EBITDA EBITDA (INR crore)

3 Cash balance increased to INR 12,241 crore in FY24

Consolidated business generated surplus cash of Consolidated cash balance

12,22 0 INR 897 crore YoY

FY22 FY23 FY24

Food delivery GOV Food delivery Orders