Vodafone Idea Ltd Auditor Reports

To the Members of Vodafone Idea Limited

Report on the Audit of the Standalone Financial Statements

Opinion

We have audited the accompanying standalone financial statements of Vodafone Idea Limited ("the Company"), which comprise the Balance Sheet as at March 31, 2025, the Statement of Profit and Loss, including the statement of Other Comprehensive Income, the Statement of Cash Flows and the Statement of Changes in Equity for the year then ended, and notes to the standalone financial statements, including a summa of material accounting policies and other explanato information.

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid standalone financial statements give the information required by the Companies Act, 2013, as amended ("the Act") in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India, of the state of affairs of the Company as at March 31, 2025, its loss including other comprehensive loss, its cash flows and the changes in equity for the year ended on that date.

Basis for Opinion

We conducted our audit of the standalone financial statements in accordance with the Standards on Auditing (SAs), as specified under section 143(10) of the Act. Our responsibilities under those Standards are further described in the ‘Auditors Responsibilities for the Audit of the Standalone Financial Statements section of our report. We are independent of the Company in accordance with the ‘Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the standalone financial statements.

Material Uncertainty Related to Going Concern

We draw attention to Note 5 to the standalone financial statements, which describes the Companys financial condition as of March 31, 2025 including its debt obligations due for the next 12 months. The Companys financial performance has impacted its ability to generate cash flows that it needs to settle/refinance its liabilities as they fall due. The Companys ability to continue as a going concern is dependent on support from the DoT on the AGR matter, successfully arranging funding and generation of cash flow from its operations that it needs to settle its liabilities as they fall due. Our opinion is not modified in respect of this matter.

Key Audit Matters

Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the standalone financial statements for the financial year ended March 31, 2025. These matters were addressed in the context of our audit of the standalone financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters. For each matter below, our description of how our audit addressed the matter is provided in that context.

In addition to the matter described in the ‘Material Uncertainty Related to Going Concern section, we have determined the matters described below to be the key audit matters to be communicated in our report. We have fulfilled the responsibilities described in the Auditors responsibilities for the audit of the standalone financial statements section of our report, including in relation to these matters. Accordingly, our audit included the performance of procedures designed to respond to our assessment of the risks of material misstatement of the standalone financial statements. The results of our audit procedures, including the procedures performed to address the matters below, provide the basis for our audit opinion on the accompanying standalone financial statements.

Key audit matters	How our audit addressed the key audit matter
Revenue recognition (as described in note 6(a) of the Standalone financial statements)	Our audit procedures included the following:
For the year ended March 31, 2025, the service revenue recognised was Rs. 430,449 million.	• With the assistance by IT specialists, we obtained an understanding, evaluated the design and tested the operating effectiveness of key IT general and application controls related to revenue recognition processes. We also tested relevant IT infrastructure and applications that result in generation of various IT reports used for billing and revenue recognition process.
Revenue recognition has been identified as a key audit matter due to complexity of systems in recognizing revenues, significance of volumes of data process by system, constantly evolving pricing with discounted tariffs and operation in highly competitive marketplace.	• We tested the operating effectiveness of IT dependent manual controls, performed data analytics and trend analysis, test of reconciliations between billing systems and other IT systems, prepaid applications and the general ledger. We also performed procedures to test the computation of deferred revenue.
	• We read and assessed the revenue related accounting policy, estimates and assumptions and disclosures in the standalone financial statements.
Assessment of claims related to regulatory, taxation and legal matters (as described in note 3, 44(viii) and 46 of the Standalone financial statements)	Our audit procedures included the following:
At March 31, 2025 the value of regulatory, tax and legal disputes disclosed as contingent liabilities was Rs. 191,686 million.	• We obtained summary of all tax, regulatory and litigation including managements assessment.
Pursuant to the Honble Supreme Court judgement, the Company has recorded and carrying liability of Rs. 759,452 million related to AGR matter and Rs. 75,813 million related to one time spectrum charges (OTSC) for more than 6.2 MHz spectrum.	• We obtained an understanding, evaluated the design, and tested the operating effectiveness of the controls related to managements risk assessment process for taxation, regulatory and legal matters.
Taxation, regulatory and litigation exposures have been identified as a key audit matter due to changing regulatory environment and significant judgement required by management in assessing the exposure of each case.	• We obtained and read external legal opinions (where considered necessary) and other evidence provided by management to corroborate managements assessment of the regulatory and legal matters.
	• Engaged tax/regulatory specialists to assess the tax/regulatory positions taken by management with respect to tax/regulatory litigations.
	• Verified the provisions recorded in the books by the Company including the interest computations based on the demands received by the Company from DoT, internal records of the Company based on the Honble Supreme Court judgement and validated the computations in accordance with license agreement and Honble Supreme Court judgement for the provisions recorded in the books.
	• Assessed the relevant accounting policies and disclosures in the standalone financial statements for compliance with the requirements of accounting standards.
Borrowings, interest and debt covenant testing (as described in note 24, 25, 28 and 30 of the Standalone financial statements)	Our audit procedures included the following:
At March 31, 2025, current and noncurrent borrowings was Rs. 1,972,557 million (including interest accrued but not due) of which Loan from banks and others of Rs. 23,451 million and Deferred payment obligations towards Spectrum and AGR liability of Rs. 1,949,106 million.	• We tested the debt covenant ratio specified in the loan agreements and the computation and assessed the classification of the borrowing in financial statement based on the results of such testing and waiver from the banks, if any.
Outstanding bank guarantee and letter of credit as at March 31, 2025 was Rs. 93,140 million.	• We obtained independent confirmation from the banks with respect to borrowings and non-fund based facilities [including bank guarantees/letter of credit] outstanding as at March 31, 2025 and compared the amounts as per confirmations with the amounts in the books of accounts and tested with the reconciliation provided by the management.
Annual covenant testing as at March 31, 2025 resulted in certain ratios breaching the specified covenant threshold for loans aggregating Rs. 23,260 million. Accordingly, the Company has classified Rs. 7,260 million from non-current borrowings to current maturities of long-term debt.	• We verified the interest/commission rate used by the Company for computation of interest cost with the loan/bank guarantee agreements and various correspondences received by the Company from respective banks and corresponding increase in rates due to debt covenant breach and change in credit rating, if any.
Borrowings has been identified as a key audit matter due to debt covenant breach, change in credit ratings of the loans and various correspondences received from banks and financial institutions for additional security / increase in interest/commission rate resulting in recognition, presentation and measurement complexities.	• We verified the security created against fund and non-fund based facilities with the agreements and documents related to charges filed with Registrar of Companies.
	• We assessed the borrowing related accounting policy and disclosures in the standalone financial statements for compliance as per Ind AS 107.
	• We obtained various correspondences received from the Department of Telecommunications (‘DOT) with respect to deferment / moratorium / future installment related to Deferred payment obligations towards Spectrum and AGR and compared the same with amounts considered in the books of accounts.

Other Information

The Companys Board of Directors are responsible for the other information. The other information comprises the information included in the Annual Report but does not include the standalone financial statements and our auditors report thereon. The Annual Report is expected to be made available to us aƒer the date of this auditors report.

Our opinion on the standalone financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

In connection with our audit of the standalone financial statements, our responsibility is to read the other information identified above when it becomes available and, in doing so, consider whether such other information is materially inconsistent with the standalone financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated.

Responsibilities of Management for the Standalone Financial Statements

The Companys Board of Directors are responsible for the matters stated in section 134(5) of the Act with respect to the preparation of these standalone financial statements that give a true and fair view of the financial position, financial performance including other comprehensive income, cash flows and changes in equity of the Company in accordance with the accounting principles generally accepted in India, including the Indian Accounting Standards (Ind AS) specified under section 133 of the Act read with the Companies (Indian Accounting Standards) Rules, 2015, as amended. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the standalone financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the standalone financial statements, management is responsible for assessing the Companys ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

Those Board of Directors are also responsible for overseeing the Companys financial reporting process.

Auditors Responsibilities for the Audit of the Standalone Financial Statements

Our objectives are to obtain reasonable assurance about whether the standalone financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these standalone financial statements.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

Identify and assess the risks of material misstatement of the standalone financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forge, intentional omissions, misrepresentations, or the override of internal control.

Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under section 143(3)(i) of the Act, we are also responsible for expressing our opinion on whether the Company has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such controls.

Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.

Conclude on the appropriateness of managements use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Companys ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditors report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditors report. However, future events or conditions may cause the Company to cease to continue as a going concern.

Evaluate the overall presentation, structure and content of the standalone financial statements, including the disclosures, and whether the standalone financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also pr those charged with governance with a statement ovide that w hav e complied with relevant ethical requirements regarding e independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

From the matters communicated with those charged with governance, we determine those matters that were of most in the audit of the standalone financial statements for the financial year ended March 31, 2025 and are therefore the key audit matters. We describe these matters in our auditors report unless law or regulation precludes public disclosure about the matter o w in extremely rare circumstances, we determine that r hen, a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.

Report on Other Legal and Regulato Requirements

1. As r by the Companies (Auditors Report) Order, 2020 equired ("the Or issued by the Central Government of India in der"), terms of sub-section (11) of section 143 of the Act, we give in the "Annexure 1" a statement on the matters specified in paragraphs 3 and 4 of the Order.

2. As r by Section 143(3) of the Act, we report, to the equired extent applicable, that:

(a) We have sought and obtained all the information and explanations which to the best of our knowledge and belief w necessary for the purposes of our audit of ere the aforesaid standalone financial statements;

(b) In our opinion, proper books of account as required by law have been kept by the Company so far as it appears from our examination of those books except for the matters stated in the paragraph 2(j)(vi) below on reporting under Rule 11(g);

(c) The standalone Balance Sheet, the standalone Statement of Pr and Loss including the Statement of Other ofit Comprehensive Income, the standalone Statement of Cash Flo and the standalone Statement of Changes ws in Equity dealt with by this Report are in agreement with the books of account;

(d) In our opinion, the aforesaid standalone financial statements comply with the Accounting Standards specified under Section 133 of the Act, read with Companies (Indian Accounting Standards) Rules, 2015, as amended;

(e) The matter described in Material Uncertainty Related to Going Concern paragraph above, in our opinion, may have an adverse effect on the functioning of the Company;

(f) On the basis of the written representations received from the dir as on March 31, 2025 taken on record by ectors the Boar of Directors, none of the directors d disqualified as on Mar 31, 2025 from being appointed as a director ch in terms of Section 164 (2) of the Act; modification (g) The relating to the maintenance of accounts and other matters connected therewith are as stated in paragraph 2(b) above on reporting under Section 143(3) (b) and paragraph 2(j)(vi) below on reporting under Rule 11(g);

(h) With respect to the adequacy of the internal financial controls with reference to these standalone financial statements and the operating effectiveness of such controls, r to our separate Report in "Annexure 2" to efer this report;

(i) In our opinion, the managerial remuneration for the year ended Mar 31, 2025 has been paid/provided by the ch Company to its directors in accordance with the provisions of section 197 read with Schedule V to the Act;

(j) With respect to the other matters to be included in the Auditors Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014, as amended in our opinion and to the best of our information and according to the explanations given to us:

i. The Company has disclosed the impact of pending litigations on its financial position in its standalone financial statements Refer Note 46 to the standalone financial statements;

ii. The Company did not have any material foreseeable losses in long-term contracts including derivative contracts during the year ended March 31, 2025;

iii. There has been no delay in transferring amounts, required to be transferred, to the Investor Education and Pr otection Fund by the Company during the year ended March 31, 2025; iv. a) The management has represented that, to the best of its knowledge and belief, no funds 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 persons or entities, including foreign entities ("Intermediaries"), with the understanding, whether recorded in writing or otherwise, that the Intermedia shall, whether, 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) The management has represented that, to the best of its knowledge and belief, no funds have been received by the Company from any persons or entities, including foreign entities ("Funding Parties"), with the understanding, whether recorded in writing or otherwise, that the Company shall, whether, 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; and

c) Based on the audit procedures performed that have been considered reasonable and appropriate in the circumstances, nothing has come to our notice that has caused us to believe that the representations under sub-clause (a) and (b) contain any material misstatement.

v. No dividend has been declared or paid during the year by the Company.

vi. Based on our examination which included test checks, the Company has used various accounting software for maintaining its books of account which have a feature of recording audit trail (edit log) facility and the same has operated throughout the year for all relevant transactions recorded in the respective soƒware except that in respect of certain supporting soƒware, audit trail feature is not enabled, as described in Note 64 to the standalone financial statements.

Further, during the course of our audit, we did not come across any instance of audit trail feature being tampered with in respect of accounting soƒware and other supporting soƒware where the audit trail is enabled. Additionally, the audit trail has been preserved as per the statuto requirements for record retention in respect of accounting soƒware and other reporting soƒware where the audit trail is enabled.

Also, with respect to third-party operated soƒware application, in the absence of comprehensive information in the Service Organisation Controls report on audit trail, as described in Note 64 to the financial statements, we are unable to comment on whether the audit trail feature with respect to third-party operated soƒware application was enabled and operated throughout the year for all relevant transactions recorded in this soƒware application or whether there were any instances of the audit trail feature being tampered with. Additionally, we are unable to comment whether the audit trail has been preserved by the Company as per the statuto requirements for record retention.

Annexure 1 to the Independent Auditors Report

Annexure ‘1 referred to in paragraph under the heading "Report on other legal and regulato requirements" of our report of even date

Re: Vodafone Idea Limited (‘the Company)

In terms of the information and explanations sought by us and given by the Company and the books of account and records examined by us in the normal course of audit and to the best of our knowledge and belief, we state that: (i) (a) (A) The Company has maintained proper records showing full particulars, including situation and quantitative information of Property, Plant and Equipment except for certain assets where Company is in the process of updating situation and quantitative information in the records maintained by the Company. (B) The Company has maintained proper records showing full particulars of intangibles assets as reflected in the books.

(b) Property, Plant and Equipment were physically verified by the management during the year in accordance with a planned programme of verifying all the items in phased manner over a period of three years, which in our opinion is reasonable having regard to the size of the Company and nature of its assets. No material discrepancies were noticed on such verification.

(c) According to information and explanations given by the management and based on the examination of the financial statements/registered deed/transfer deed/conveyance deed/court approved scheme of arrangements or amalgamations, the title deeds of all freehold land, leasehold land and buildings disclosed as property, plant and equipment are held in the name of the Company. In respect of immovable properties that have been taken on lease and disclosed as property, plant, and equipment in the financial statement, based on our examination of the lease agreements/court approved scheme of arrangements or amalgamations, the lease agreements are in the name of the Company, where the Company is the lessee in the agreement.

(d) The Company has not revalued its Property, Plant and Equipment (including Right of use assets) or intangible assets during the year ended March 31, 2025.

(e) There are no proceedings initiated or are pending against the Company for holding any benami property under the Prohibition of Benami Property Transactions Act, 1988 (as amended in 2016) and rules made thereunder.

(ii) (a) The management has conducted physical verification of inventory at reasonable intervals during the year and no material discrepancies were noticed upon such verification. In our opinion the coverage and the procedure of such verification by the management is appropriate.

(b) The Company has been sanctioned working capital limits in excess of Rupees five crores in aggregate from banks during the year on the basis of security of current assets of the Company. Based on the records examined by us in the normal course of audit of the financial statements, the quarterly returns/statements filed by the Company with such banks, if required are in agreement with the unaudited books of accounts of the Company for the respective quarterly returns, as required.

(iii) (a) During the year, the Company has not provided loans, advances in the nature of loans, stood guarantee or provided security to companies, firms, limited liability partnerships or any other parties. Accordingly, the requirement to report on clause 3(iii) (a) and (f) of the Order is not applicable to the Company.

(b) During the year, the Company has not made investments, provided guarantees, provided security and granted loans and advances in the nature of loans to companies, firms, limited liability partnerships or any other parties. Accordingly, the requirement to report on clause 3(iii)(b) of the Order is not applicable to the Company.

(c) In respect of loans granted to subsidiary companies, repayable on demand, the schedule of repayment of principal and payment of interest has so been stipulated and the repayment or receipts are in accordance with the agreement.

(d) There are no amounts of loans and advances in the nature of loans granted to subsidia companies or any other parties which are overdue for more than ninety days.

(e) There were no loans granted to companies which had fallen due during the year, that have been renewed or extended or fresh loans granted to settle the overdues of existing loans given to the same parties.

(iv) There are no loans, investments, guarantees, and securities granted in respect of which provisions of section 185 and 186 of the Companies Act, 2013 are applicable and accordingly, the requirement to report on clause 3(iv) of the Order is not applicable to the Company.

(v) The Company has neither accepted any deposits from the public nor accepted any amounts which are deemed to be deposits within the meaning of sections 73 to 76 of the Companies Act and the rules made thereunder, to the extent applicable. Accordingly, the requirement to report on clause 3(v) of the Order is not applicable to the Company.

(vi) We have broadly reviewed the books of account maintained by the Company pursuant to the rules made by the Central Government for the maintenance of cost records under section 148(1) of the Companies Act, 2013, related to Telecommunication Services, and are of the opinion that prima facie, the specified accounts and records have been made and maintained. We have not, however, made a detailed examination of records with a view to determine whether they are accurate or complete.

(vii) (a) Undisputed statuto dues including goods and services tax, provident fund, employees state insurance, income-tax, cess and other statuto dues applicable to it, have generally been regularly deposited with the appropriate authorities. The provisions relating to sales-tax, service tax, duty of excise, duty of customs and value added tax are not applicable to the Company for the year ended March 31, 2025.

According to the information and explanations given to us and based on audit procedures performed by us, no undisputed amounts payable in respect of these statuto dues were outstanding as at the March 31, 2025 for a period of more than six months from the date they became payable.

(b) According to the records of the Company, the dues of goods and services tax, provident fund, employees state insurance, income-tax, sales-tax, service tax, duty of custom, value added tax, cess and other statuto dues that have not been deposited on account of any dispute, are as follows:

Name of Statute	Type of Tax	Forum where Dispute is Pending	Period to which the amount relates	Amount involved (Rs. in million)
Income Tax Act,1961	Income Tax	Assessing Officer	2002-2003, 20092013, 2015-2017	200
Income Tax Act,1961	Income Tax	Assistant Commissioner of Income Tax	2012-2013, 2017-2018	231
Income Tax Act,1961	Income Tax	Assistant Commissioner of Income Tax (Appeals)	2013-14	130
Income Tax Act,1961	Income Tax	Commissioner of Income Tax (Appeals)	2000-2022	37,884
Income Tax Act,1961	Income Tax	Deputy Commissioner of Income Tax	2001-2002, 2003-2006, 2008-2009, 2015-2017, 2018-2019	14,336
Income Tax Act,1961	Income Tax	Deputy Commissioner of Income Tax (Appeals)	2019-2020	42
Income Tax Act,1961	Income Tax	High Court of Bihar	2008-2010	28
Income Tax Act,1961	Income Tax	High Court of Bombay	2006-2009, 2012-2016	634
Income Tax Act,1961	Income Tax	High Court of Delhi	2003-2005, 2010-2011	5,340
Income Tax Act,1961	Income Tax	High Court of Gujarat	2002-2004, 2007-2010	362
Income Tax Act,1961	Income Tax	High Court of Haryana	2008-2009	1,468
Income Tax Act,1961	Income Tax	High Court of Kolkata	2003-2004, 2011-2013	189
Income Tax Act,1961	Income Tax	High Court of Madras	2006-2008, 2011-2014	116
Income Tax Act.1961	Income Tax	High Court of Punjab & Haryana	2009-11	39
Income Tax Act.1961	Income Tax	High Court of Rajasthan	2010-2013	110
Income Tax Act.1961	Income Tax	Income Tax Appellate Tribunal	2003-2017	51,188
Income Tax Act.1961	Income Tax	Supreme Court of India	2005-2010	384
Total of Income Tax				112,681
The Customs Act, 1962	Custom Duty	Commissioner of Customs	2004-2022	6
The Customs Act, 1962	Custom Duty	Commissioner of Customs (Appeals)	2002-2003, 2006-2025	525
The Customs Act, 1962	Custom Duty	Customs Excise & Service Tax Appellate Tribunal	2005-2023.	8,530
The Customs Act, 1962	Custom Duty	Supreme Court of India	2006-2007, 2008-2009	198
The Customs Act, 1962	Custom Duty	Appraiser Officer	2001-2002, 2007-2010, 2013-2015, 2017-2024	481
The Customs Act, 1962	Custom Duty	High Court of Bombay	2008-2009	7
Total of Custom Duty				9,746
Central Excise Act, 1944	Excise Duty	High Court of Bombay	2017-2018	7
Central Excise Act, 1944	Excise Duty	Customs Excise & Service Tax Appellate Tribunal (Appeals)	2003-2005	8
Total of Excise Duty				15
Central Goods and Services Tax Act, 2017	Goods and Services Tax	First Appellate Authority	2017-2025	34,687
Central Goods and Services Tax Act, 2017	Goods and Services Tax	Goods and Services Tax Tribunal	2017-2019	4,427
Central Goods and Services Tax Act, 2017	Goods and Services Tax	High Court of Calcutta	2019-2020	3,681
Central Goods and Services Tax Act, 2017	Goods and Services Tax	High Court of Punjab & Haryana	2020-2021	178
Total of Goods and Services Tax				42,972
The Finance Act, 1994	Service Tax	Additional Commissioner of Central Excise & CGST	1995-1999	5
The Finance Act, 1994	Service Tax	Assistant Commissioner of Central Excise & CGST	2010-2012	25
The Finance Act, 1994	Service Tax	Commissioner of Central Excise & CGST (Appeals)	2004-2018	161
The Finance Act, 1994	Service Tax	Customs, Excise & Service Tax Appellate Tribunal	1999-2001, 2003-2018	62,778
The Finance Act, 1994	Service Tax	High Court of Andhra Pradesh	2004 - 2009	25
The Finance Act, 1994	Service Tax	High Court of Bombay	2004-2013	208
The Finance Act, 1994	Service Tax	High Court of Calcutta	2005-2010	411
The Finance Act, 1994	Service Tax	High Court of Gujarat	2006-2008, 2009-2010, 2014-2016	87
The Finance Act, 1994	Service Tax	High Court of Kerala	2003 - 2004	24
The Finance Act, 1994	Service Tax	High Court of Madras	2004-2011	1,786
The Finance Act, 1994	Service Tax	High Court of Punjab & Haryana	2004-2009	91
The Finance Act, 1994	Service Tax	High Court of Judicature at Allahabad		97
The Finance Act, 1994	Service Tax	Supreme Court of India	2000-2009	172
Total of Service Tax				65,871
Andhra Pradesh Value Added Tax Act, 2005	Value Added Tax	Appellate Tribunal	2002-2010	6
Delhi Value Added Tax Act, 2004	Value Added Tax	Appellate Tribunal	1997-2002, 2010-2011	7
Delhi Value Added Tax Act, 2004	Value Added Tax	Commissioner of Commercial Taxes (Appeal)	2005-2006, 2009- 2010	18
Delhi Value Added Tax Act, 2004	Value Added Tax	Assessing Officer	2003-2008	25
Gujarat Sales Tax Act, 1969	Sales Tax	Deputy Commissioner (Appeals)	1998 - 1999	8
Gujarat Sales Tax Act, 1969	Sales Tax	State Tax Tribunal	1998-2002	9
Gujarat Value Added Tax Act, 2003	Value Added Tax	Appellate Tribunal	2006-2007	9
Haryana General Sales Tax Act, 1973	Sales Tax	Deputy Commissioner of Sales Tax (Appeal)	2002-2003	79
Karnataka Value Added Tax Act, 2003	Value Added Tax	Additional Commissioner of Commercial Taxes (Appeal)	2012-2013	3
Kerala Value Added Tax Act, 2003	Value Added Tax	High Court of Kerala	2011-2013, 2015-2016	638
Kerala Value Added Tax Act, 2003	Value Added Tax	Deputy Commissioner (Appeals)	2012-2013, 2016-2017	*
Madhya Pradesh Value Added Tax Act, 2002	Value Added Tax	Additional Commissioner of Sales Tax (Appeal)	2010-2011	5
Madhya Pradesh Value Added Tax Act, 2002	Value Added Tax	Assistant Commissioner of Commercial Taxes (Appeal)	2013-2014	2
Madhya Pradesh Value Added Tax Act, 2002	Value Added Tax	Appellate Board	2012-2013	1
Madhya Pradesh Value Added Tax Act, 2002	Value Added Tax	High Court of Madhya Pradesh	2003-05	11
Madhya Pradesh Value Added Tax Act, 2002	Value Added Tax	Joint Commissioner of Sales Tax (Appeal)	2014-2015	*
Madhya Pradesh Value Added Tax Act, 2002	Value Added Tax	Supreme Court of India	2011-2014	8
Madhya Pradesh Value Added Tax Act, 2002	Value Added Tax	Assessing officer	2004-2006, 2008-2009, 2010-2011	10
Madhya Pradesh Value Added Tax Act, 2002	Value Added Tax	Madhya Pradesh Commercial Tax Tribunal	2006-2008, 2009-2010	23
Maharashtra Value Added Tax Act, 2002	Value Added Tax	Joint Commissioner of Sales Tax (Appeal)	2015-2017	46
Maharashtra Value Added Tax Act, 2002	Value Added Tax	Appellate Tribunal	2012-2013	192
Odisha Value added tax Act, 2004	Value Added Tax	Joint Commissioner of Sales Tax (Appeal)	2012-2014	1
Punjab Value Added Tax Act,2005	Value Added Tax	High Court of Punjab and Haryana	2006-2009	76
Tamil Nadu Value Added Tax Act, 2006	Value Added Tax	Deputy Commissioner of Sales Tax (Appeal)	2007-2016	4
The Bihar Value Added Tax Act, 2005	Value Added Tax	Deputy Commissioner (Appeals)	2005-2007, 2011-2012	2
The Bihar Value Added Tax Act, 2005	Value Added Tax	Commissioner of Commercial Taxes (Appeal)	2014-2015	2
The Bihar Value Added Tax Act, 2005	Value Added Tax	State Tax Tribunal	2006-2018	132
The Central Sales Tax Act, 1956	Sales Tax	Additional Commissioner (Appeals)	2008-17	2
The Central Sales Tax Act, 1956	Sales Tax	Assistant Commissioner of Commercial Taxes (Appeal)	2011-2016	23
The Central Sales Tax Act, 1956	Sales Tax	Appellate Board	2013-2014	*
The Central Sales Tax Act, 1956	Sales Tax	Appellate Deputy Commissioner	2017 - 2018	*
The Central Sales Tax Act, 1956	Sales Tax	Assessing Officer	2006-2017	1
The Central Sales Tax Act, 1956	Sales Tax	Commissioner of Commercial Taxes (Appeal)	2010-2011, 2014-2016	1
The Central Sales Tax Act, 1956	Sales Tax	Deputy Commissioner of Sales Tax (Appeal)	2013-2015	6
The Central Sales Tax Act, 1956	Sales Tax	Joint Commissioner of Sales Tax (Appeal)	2007-2008	-*
The Central Sales Tax Act, 1956	Sales Tax	Appellate Tribunal	2005-2007, 2008-2009, 2010-2012, 2015-2016, 2015-2018	142
The Haryana Value Added Tax Act, 2003	Value Added Tax	Joint Commissioner of Sales Tax (Appeal)	2006-2008, 2010-2011	10
The Haryana Value Added Tax Act, 2003	Value Added Tax	Deputy Commissioner of Sales Tax (Appeal)	2003-2006	2
The Uttar Pradesh Value Added Tax Act, 2008	Value Added Tax	Additional Commissioner of Sales Tax (Appeal)	2007-2010, 2012-2013	1
The Uttar Pradesh Value Added Tax Act, 2008	Value Added Tax	Assessing Officer	2008-2009, 2009-2010, 2011-2012, 2017-2018	20
The Uttar Pradesh Value Added Tax Act, 2008	Value Added Tax	Additional Commissioner (Appeals)	2011-2012, 2013-2014, 2017-2018	10
The Uttar Pradesh Value Added Tax Act, 2008	Value Added Tax	Deputy Commissioner (Appeals)	2008-2009, 2011-2012	6
The Uttar Pradesh Value Added Tax Act, 2008	Value Added Tax	High Court of Allahabad	2008-2009	63
The Uttar Pradesh Value Added Tax Act, 2008	Value Added Tax	Joint Commissioner of Sales Tax (Appeal)	2009-2010, 2014-2015	-*
The Uttar Pradesh Value Added Tax Act, 2008	Value Added Tax	Appellate Tribunal	2008-2010, 2012-2013	104
The Jammu And Kashmir General Sales Tax Act, 1962	Value Added Tax	Commissioner of Commercial Taxes,(Appeal)	2015-2017	203
The Jammu And Kashmir General Sales Tax Act, 1962	Value Added Tax	Deputy Commissioner of Sales Tax (Appeal)	2017-2018	79
Uttar Pradesh Trade Tax Act, 1948	Value Added Tax	Trade Tax Tribunal	2005 -2008	25
Uttar Pradesh Trade Tax Act, 1948	Value Added Tax	High Court of Allahabad	2003-2008	3
West Bengal Value Added Tax, 2003	Value Added Tax	Appellate Board	2010-2012	3
West Bengal Value Added Tax, 2003	Value Added Tax	Appellate Tribunal	2008-2009	5
Total of Sales Tax & Value Added Tax			2,026
Assam Entry Tax Act, 2008	Entry Tax	High Court of Assam	2007-2009	13
Bihar tax on Entry of Goods into Local Areas for Consumption, Use or Sale Therein Act, 1993	Entry Tax	Joint Commissioner (Appeals)	2009-2010	12
Bihar tax on Entry of Goods into Local Areas for Consumption, Use or Sale Therein Act, 1993	Entry Tax	State Tax Tribunal	2011-2013, 2016-2017	148
Bombay Provincial Municipal Corporations Act, 1949	Entry Tax	Assistant Commissioner (Appeals)	2013-2014	38
Chhattisgarh Sthaniya Kshetra Me Mal Ke Pravesh Par Kar Adhiniyam, 1976	Entry Tax	State Tax Tribunal	2004-2005, 2006-2007, 2010-2014	8
Chhattisgarh Sthaniya Kshetra Me Mal Ke Pravesh Par Kar Adhiniyam, 1976	Entry Tax	High Court of Chhattisgarh	2005-2018	142
Jammu and Kashmir Entry Tax on Goods Act, 2000.	Entry Tax	High Court of Jammu and Kashmir	2008-2009	17
Madhya Pradesh Sthaniya Kshetra Me Mal Ke Pravesh Par Kar Adhiniyam, 1976	Entry Tax	Assistant Commissioner (Appeals)	1998-2001, 2007-2008 2013-2014	27
Madhya Pradesh Sthaniya Kshetra Me Mal Ke Pravesh Par Kar Adhiniyam, 1976	Entry Tax	Commissioner of Commercial Tax	2016 - 2017	2
Madhya Pradesh Sthaniya Kshetra Me Mal Ke Pravesh Par Kar Adhiniyam, 1976	Entry Tax	Deputy Commissioner	2017 - 2018	606
Madhya Pradesh Sthaniya Kshetra Me Mal Ke Pravesh Par Kar Adhiniyam, 1976	Entry Tax	High Court of Madhya Pradesh	1999-2000, 2002-2018	5
Madhya Pradesh Sthaniya Kshetra Me Mal Ke Pravesh Par Kar Adhiniyam, 1976	Entry Tax	Commissioner of Commercial Taxes (Appeal)	2016-2017	12
Madhya Pradesh Sthaniya Kshetra Me Mal Ke Pravesh Par Kar Adhiniyam, 1976	Entry Tax	State Tax Tribunal	1998-1999, 2005-2006, 2016-2017	251
Maharashtra Municipal Corporation Act, 1949	Entry Tax	Deputy Commissioner (Appeals)	2000-2002, 2013 - 2015	17
Maharashtra Municipal Corporation Act, 1949	Entry Tax	Assistant Commissioner	2013 - 2016	18
Maharashtra Municipal Corporation Act, 1949	Entry Tax	Assistant Commissioner (Appeals)	2013-2018	2
Orissa Entry Tax Act, 1999.	Entry Tax	Assessing Officer	2009-2010, 2015-2017	77
Orissa Entry Tax Act, 1999.	Entry Tax	High Court of Orissa		6
Orissa Entry Tax Act, 1999.	Entry Tax	Assistant Commissioner (Appeals)	2014-2015	*
Orissa Entry Tax Act, 1999.	Entry Tax	Appellate Tribunal	2012-2014	15
The Karnataka Tax On Entry Of Goods Act, 1979	Entry Tax	High Court of Karnataka	2004-2005	156
Uttar Pradesh Tax on Entry of Goods into Local Areas Act, 2007	Entry Tax	Commissioner of Commercial Tax	2007-2008	2
Uttar Pradesh Tax on Entry of Goods into Local Areas Act, 2007	Entry Tax	Assistant Commissioner (Appeals)	2008-2009	414
Uttar Pradesh Tax on Entry of Goods into Local Areas Act, 2007	Entry Tax	High Court of Allahabad	1998-2010	2
Uttar Pradesh Tax on Entry of Goods into Local Areas Act, 2007	Entry Tax	High Court of Nainital	2000-2001, 2001-2002, 2003-2004, 2007-2008	4
Uttar Pradesh Tax on Entry of Goods into Local Areas Act, 2007	Entry Tax	Appellate Tribunal	2004-2007, 2009-2010	115
Total of Entry Tax				2,109
The Madhya Pradesh Vilasita Manoranjan, Amod Evam Vigyapan Kar Adhiniyam, 2011	Entertainment Tax	High Court of Madhya Pradesh	2016-2018	538
Total of Entertainment Tax				538

*Numbers are below one million under the rounding off convention adopted by the Company and accordingly not reported.

Of the above cases, total amount deposited in respect of Income tax is Rs. 40,362 Mn, Service tax is Rs. 1,097 Mn, Sales tax, Value added tax and Goods and Service tax is Rs. 2,366 Mn, Custom Duty is Rs. 1,031 Mn, Ent tax is Rs. 776 Mn and Entertainment tax is Rs. Nil.

(viii) The Company has not surrendered or disclosed any transaction, previously unrecorded in the books of account, in the tax assessments under the Income Tax Act, 1961 as income during the year. Accordingly, the requirement to report on clause 3 (viii) of the Order is not applicable to the Company.

(ix) (a) The Company has not defaulted in repayment of loans or other borrowings or in the payment of interest thereon to any lender.

(b) The Company has not been declared willful defaulter by any bank or financial institution or government or any government authority.

(c) Term loans were applied for the purpose for which the loans were obtained.

(d) On overall examination of the financial statements of the Company, the Company has used funds raised on short term basis (in form of trade payable and other liabilities) aggregating to Rs. 121,321 million for long-term purposes (representing acquisition of property, plant, and equipment and to fund losses of the Company).

(e) On an overall examination of the financial statements of the Company, the Company has not taken any funds from any entity or person on account of or to meet the obligations of its subsidiaries, associates, or joint ventures.

(f) The Company has not raised loans during the year on the pledge of securities held in its subsidiaries, joint venture, or associate companies. Hence, the requirement to report on clause (ix)(f) of the Order is not applicable to the Company.

(x) (a) Monies raised during the year by the Company by way of further public offer were applied for the purpose for which they were raised, though idle/surplus funds which were not required for immediate utilization have been invested in fixed deposits. The maximum amount of idle/surplus funds invested during the year was Rs. 174,000 million, of which Rs. 96,748 million was outstanding at the end of the year.

(b) The Company has complied with provisions of sections 42 and 62 of the Companies Act, 2013 in respect of the preferential allotment of equity shares during the year. The funds raised, have been used for the purposes for which the funds were raised.

(xi) (a) No fraud by the Company or no material fraud on the Company has been noticed or reported during the year.

(b) During the year, no report under sub-section (12) of section 143 of the Companies Act, 2013 has been filed by cost auditor/secretarial auditor or by us in Form ADT – 4 as prescribed under Rule 13 of Companies (Audit and Auditors) Rules, 2014 with the Central Government.

(c) We have taken into consideration the whistle blower complaints received by the Company during the year while determining the nature, timing, and extent of audit procedures.

(xii) The Company is not a nidhi company as per the provisions of the Companies Act, 2013. Therefore, the requirement to report on clause 3(xii)(a), (b) and (c) of the Order is not applicable to the Company.

(xiii) Transactions with the related parties are in compliance with section 177 and 188 of the Companies Act, 2013 where applicable and the details have been disclosed in the notes to the standalone financial statements, as required by the applicable accounting standards.

(xiv) (a) The Company has an internal audit system commensurate with the size and nature of its business.

(b) The internal audit reports of the Company issued till the date of the audit report, for the period under audit have been considered by us. (xv) The Company has not entered into any non-cash transactions with directors or persons connected with him as referred to in section 192 of Companies Act, 2013. Accordingly, requirement to report on clause 3(xv) of the Order is not applicable to the Company.

(xvi) (a) The provisions of section 45-IA of the Reserve Bank of India Act, 1934 (2 of 1934) are not applicable to the Company. Accordingly, the requirement to report on clause 3(xvi)(a) of the Order is not applicable to the Company.

(b) The Company is not engaged in any Non-Banking Financial or Housing Finance activities. Accordingly, the requirement to report on clause 3(xvi)(b) of the Order is not applicable to the Company.

(c) The Company is not a Core Investment Company as defined in the regulations made by Reserve Bank of India. Accordingly, the requirement to report on clause 3(xvi) of the Order is not applicable to the Company. (d) According to the information and explanations given to us, the Promoter Group has five Core Investment companies as part of the Promoter Group. (xvii) The Company has incurred cash losses in the current year amounting to Rs. 123,222 million. In the immediately preceding financial year, the Company had incurred cash losses amounting to Rs. 153,165 million.

(xviii) There has been no resignation of the statuto auditors during the year and accordingly, requirement to report on clause 3(xviii) of the Order is not applicable to the Company.

(xix) As referred to in ‘Material uncertainty related to Going concern section in our main audit report and as disclosed in Note 5 and 63(A) to the financial statements which also includes the financial ratios and ageing and expected dates of realization of financial assets and payment of financial liabilities, other information accompanying the financial statements, our knowledge of the Board of Directors and management plans and based on our examination of the evidence supporting the assumptions, there exists a material uncertainty that the Company may not be capable of meeting its liabilities, existing at the date of balance sheet, as and when they fall due within a period of one year from the balance sheet date. We, further state that this is not an assurance as to the future viability of the Company and our reporting is based on the facts up to the date of the audit report and we neither give any guarantee nor any assurance that all liabilities falling due within a period of one year from the balance sheet date, will get discharged by the Company as and when they fall due.

(xx) The Company has incurred losses during the three immediately preceding financial years and hence, it is not required to spend any money under sub-section (5) of section 135 of the Act. Accordingly, reporting under clause 3(xx) of the Order is not applicable for the year.

Annexure ‘2 to the Independent Auditors Report

of even date on the Standalone Financial Statements of Vodafone Idea Limited

Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section 143 of the Companies Act, 2013 ("the Act")

We have audited the internal financial controls with reference to standalone financial statements of Vodafone Idea Limited ("the Company") as of March 31, 2025 in conjunction with our audit of the standalone financial statements of the Company for the year ended on that date.

Managements Responsibility for Internal Financial Controls

The Companys Management is responsible for establishing and maintaining internal financial controls based on the internal control over financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by the Institute of Chartered Accountants of India ("ICAI"). These responsibilities include the design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the orderly and efficient conduct of its business, including adherence to the Companys policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial information, as required under the Act.

Auditors Responsibility

Our responsibility is to express an opinion on the Companys internal financial controls with reference to these standalone financial statements based on our audit. We conducted our audit in accordance with the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting (the "Guidance Note") and the Standards on Auditing, as specified under section 143(10) of the Act, to the extent applicable to an audit of internal financial controls, both issued by ICAI. Those Standards and the Guidance Note require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether adequate internal financial controls with reference to these standalone financial statements was established and maintained and if such controls operated effectively in all material respects.

Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal financial controls with reference to these standalone financial statements and their operating effectiveness. Our audit of internal financial controls with reference to standalone financial statements included obtaining an understanding of internal financial controls with reference to these standalone financial statements, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. The procedures selected depend on the auditors judgement, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the Companys internal financial controls with reference to these standalone financial statements.

Meaning of Internal Financial Controls With Reference to these Standalone Financial Statements

A companys internal financial controls with reference to standalone financial statements is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A companys internal financial controls with reference to these standalone financial statements includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessa to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorisations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorised acquisition, use, or disposition of the companys assets that could have a material effect on the financial statements.

Inherent Limitations of Internal Financial Controls With Reference to Standalone Financial Statements

Because of the inherent limitations of internal financial controls with reference to these standalone financial statements, including the possibility of collusion or improper management override of controls, material misstatements due to error or fraud may occur and not be detected. Also, projections of any evaluation of the internal financial controls with reference to these standalone financial statements to future periods are subject to the risk that the internal financial control with reference to these standalone financial statements may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

Opinion

In our opinion, the Company has, in all material respects, adequate internal financial controls with reference to these standalone financial statements and such internal financial controls with reference to these standalone financial statements were operating effectively as at March 31, 2025, based on the internal control over financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note issued by the ICAI.

For S.R. Batliboi & Associates LLP

Chartered Accountants

ICAI Firm Registration Number: 101049W/E300004

per Amit Poddar

Partner

Membership No.: 509192

UDIN: 25509192BNFTRR9324

Place of Signature: Mumbai

Date: May 30, 2025