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In order to promote high-quality of financial reporting through consistent application of applicable financial reporting framework requirements, we have released the Ind AS Example Consolidated Financial Statements 2025 which have been prepared in accordance with the Indian Accounting Standards (Ind AS) as prescribed under Section 133 read with Division II of Schedule III of the Companies Act, 2013 and reflect updates to the applicable financial reporting requirements as of 30 June 2025.
These Example Financial Statements, for the year ended 31 March 2025, have been developed based on the activities and financial outcomes of Illustrative India Limited and its subsidiaries (collectively referred to as ‘the Group’ or the ‘Illustrative India Group’)—a fictional entity engaged in consulting, services, telecommunication system construction, and retail operations. The Group has been reporting under Ind AS for several years.
These illustrative financial statements are intended to serve as a learning resource and reference guide. They are not intended to function as a definitive template and should be considered alongside applicable industry-specific standards and regulatory requirements. The intent is to demonstrate one possible approach to reporting transactions that are commonly encountered in general business sectors.
Given the illustrative nature of the content, not all potential scenarios have been captured. The structure and substance of Ind AS financial statements will vary depending on the nature of an entity’s activities and transactions. Responsibility for fair presentation remains with management, and in certain cases, alternative approaches may be more suitable.
