Integrated Annual Report 2024-25 386 13. Income taxes (Continued) Balances of deferred tax assets/deferred tax liabilities are presented in balance sheet as below: Rupees crores Particulars 2025 2024 Deferred tax assets (net).................................................................................................................................................................................................................. 1,573.11 1,578.99 Deferred tax liabilities (net)............................................................................................................................................................................................................ 1,912.07 1,772.13 Net deferred tax asset/(liabilities) ............................................................................................................................................................................................ (338.96) (193.14) 14. Other Assets (Non-Financial) Rupees crores Particulars Non Current Current 2025 2024 2025 2024 Capital Advances.................................................................................................................................................. 1,343.82 2,456.65 — — Balances with government authorities (other than current taxes)................................ 219.20 628.99 5,263.96 3,676.26 Contract assets ................................................................................................................................................... — 16.58 260.54 227.95 Deferred acquisition cost ............................................................................................................................. 752.90 745.39 80.37 61.54 Others ........................................................................................................................................................................ 411.46 384.13 1,598.21 1,414.60 Total ........................................................................................................................................................................... 2,727.38 4,231.74 7,203.08 5,380.35 Others include advances to suppliers, prepaid expenses, export benefits receivable and other recoverable expenses. Significant changes in contract assets during the year are as follows:— Rupees crores Particulars 2025 2024 Reclassification of opening balances of contract assets to trade receivables.......................................................................................... 242.99 152.60 Adjustments due to contract modification........................................................................................................................................................................... 0.10 13.83 In addition to the contract balances disclosed above, the group has also recognised a deferred acquisition cost in relation to some of the long-term contracts. Rupees crores Particulars 2025 2024 Assets recognised from incremental cost of acquisition incurred to fulfil a contract ........................................................................ 833.27 806.93 Amortisation of expenses during the year ......................................................................................................................................................................... 63.81 59.78 15. Inventories Rupees crores Particulars 2025 2024 Raw materials and bought-out components [includes in-transit Rs. 799.95 crores (2024: Rs. 732.82 crores)]............ 6,827.87 6,337.60 Work-in-progress...................................................................................................................................................................................................................................... 448.29 527.11 Work-in-progress-property development activity and long term contracts................................................................................................. 4,636.52 3,491.12 Finished goods produced................................................................................................................................................................................................................... 5,837.50 6,060.46 Stock-in-trade [includes in-transit Rs. 4.62 crores (2024: Rs. 0.95 crores)] ............................................................................................ 1,504.56 1,291.56 Manufactured components.............................................................................................................................................................................................................. 734.61 540.92 Stores and spares ................................................................................................................................................................................................................................. 232.95 237.63 Loose tools.................................................................................................................................................................................................................................................. 95.53 92.08 Food, beverages, smokes and operating supplies............................................................................................................................................................ 13.10 11.99 Total................................................................................................................................................................................................................................................................ 20,330.93 18,590.47 Notes: (a) The cost of inventories recognised as an expense during the year was Rs. 1,06,719.18 crores (2024: Rs. 94,118.06 crores) (b) The cost of inventories recognised as an expense include Rs. 482.87 crores (2024: Rs. 459.26 crores) in respect of write-down of inventories to net realisable value, and has been reduced by Rs. 231.62 crores (2024: Rs. 71.12 crores) in respect of the reversal of such write downs. (c) Certain companies in the Group have availed working capital facilities and other non-fund based facilities viz. bank guarantees and letters of credit, which are secured by hypothecation of inventories. (d) Mode of valuation of inventories is stated in Note 2. (i)
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