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Employee benefit obligations (Tables)
 12 Months Ended
Mar. 31, 2024
Employee Benefits [Abstract]  
Disclosure and Reconciliation of Net Defined Benefit Liability (Asset) and Income Statement Impact
(EUR thousand)As of March 31
20242023
Balance sheet obligations for:
Defined benefit pension plan (Funded)1,473 847 
Post-employment benefit (Unfunded)3,114 2,480 
Leave Obligation588 468 
Total employee benefit obligations5,175 3,795 

(a) Defined benefit pension plan and post-employment benefits

(EUR thousand)For the financial year ended March 31
20242023
Present value of funded obligations(13,471)(10,925)
Fair value of plan assets11,998 10,078 
Deficit of funded plans(1,473)(847)
Present value of unfunded obligations(3,114)(2,480)
Net benefit liability(4,587)(3,327)
The amounts recognized in the consolidated income statement, and statement of comprehensive income for service cost and interest cost are as follows:
(EUR thousand)For the financial year ended March 31
202420232022
Income statement (credit) / charge for:
Service cost1,251 1,607 1,560 
Interest cost95 74 49 
Total Income statement charge1,346 1,681 1,609 
Other comprehensive income / (loss):
Remeasurement of post-employment benefit obligations993 (1,435)(3,826)
The tables below reconcile the net obligation in respect of the Group’s pension plans and other post-employment benefits with the amounts recognized in the consolidated financial statements.
(EUR thousand)For the financial year ended March 31
Changes in the present value of defined benefit obligation20242023
Defined benefit obligation as of April 113,405 13,363 
Current service cost1,169 1,088 
Interest expense296 182 
Contributions by employees449 492 
(Gain)/loss from change in financial assumptions898 (1,593)
Experience loss644 131 
Past service cost82 519 
Benefits paid(404)(1,002)
Exchange differences46 225 
Defined benefit obligation as of March 3116,585 13,405 
(EUR thousand)For the financial year ended March 31
Changes in the fair value of plan assets20242023
Opening balance fair value of plan assets10,078 9,173 
Interest income201 108 
Return / (loss) on plan assets (excluding amounts included in net interest costs)548 (27)
Contributions by employer723 687 
Contributions by employees449 492 
Benefits paid(199)(673)
Exchange differences198 318 
Closing balance fair value of plan assets11,998 10,078 
(EUR thousand)For the financial year ended March 31
Amounts recognized in the income statement202420232022
Current service cost1,169 1,088 2,152 
Interest cost95 74 49 
Past service cost/(gain)82 519 (373)
Gain on curtailments and settlements — — (219)
Unrealized FX impact152 (93)(211)
Total net periodic cost1,498 1,588 1,398 
Disclosure of Financial and Demographic Assumptions hese calculations were based on the following financial and demographic assumptions:
(%)
As of March 31, 2024
AustriaSwitzerlandFranceItalyKoreaTurkeyJapanSlovakiaSpainLebanon
Discount rate3.25 %1.50 %3.50 %3.25 %4.25 %25.00 %0.75 %3.50 %3.25 %25.00 %
Inflation rate— 1.25 %— 2.50 %— — — — — — 
Future salary increases4.00 %1.50 %3.00 %— 3.00 %25.00 %3.50 %9.50 %2.50 %25.00 %
(%)
As of March 31, 2023
AustriaSwitzerlandFranceItalyKoreaTurkeyJapanSlovakiaSpain
Discount rate3.50 %1.90 %3.50 %3.50 %4.70 %9.50 %0.80 %3.50 %3.50 %
Inflation rate—1.25 %—2.50 %—————
Future salary increases4.00 %1.50 %3.00 %—3.00 %10.00 %3.50 %9.50 %2.50%
(Retirement age)
As of March 31, 2024
AustriaSwitzerlandFranceItalyKoreaTurkeyJapanSlovakiaSpainLebanon
Retirement age:
- Male6265Individual6760Individual65Individual6764
- Female6264Individual6760Individual65Individual6764
(Retirement age)
As of March 31, 2023
AustriaSwitzerlandFranceItalyKoreaTurkeyJapanSlovakiaSpain
Retirement age:
- Male6265Individual6760Individual65Individual67
- Female6264Individual6760Individual65Individual67
Maturity profile of the post-employment benefit planAustriaSwitzerlandFranceItalyKoreaTurkeyJapanSlovakiaSpainLebanon
Duration in years 9.4116.2913.859.0410.7411.956.7721.8813.8111.21
Expected contributions as of March 31, 2024 in EUR thousands— 802 — — — — — — — 15 
Maturity profile of the post-employment benefit planAustriaSwitzerlandFranceItalyKoreaTurkeyJapanSlovakiaSpain
Duration in years10.5215.9414.198.8611.1613.947.7222.6610.83
Disclosure of Fair Value of Plan Assets and Position of Post-Employment Benefit Plan
The table below shows the fair value of plan assets relating to the Group’s defined benefit pension plans, split by asset category:
(EUR thousands)As of March 31
20242023
Plan assets are comprised as follows:Value%Value%
Equity instruments3,965 33.0 %3,578 35.5 %
Euroland bonds3,478 29.0 %3,182 31.6 %
Hold to maturity bonds374 3.1 %341 3.4 %
Property3,270 27.3 %2,290 22.7 %
Other assets473 3.9 %396 3.9 %
Alternative investments438 3.7 %291 2.9 %
Insurance contracts— 0.0 %— 0 %
Total11,998 100 %10,078 100 %
The pension plans in Switzerland are the only funded plans in the Group.
(EUR thousand)As of March 31
Position of the post-employment benefit plan20242023
Present value of defined benefit obligation(16,585)(13,405)
Fair value of plan assets11,998 10,078 
Deficit in the plan(4,587)(3,327)
Experience adjustments on defined benefit obligation(644)(131)
Disclosure of Sensitivity Analysis for Actuarial Assumptions
The tables below summarize the percentage change in the net defined benefit obligation as of March 31, as a result of sensitizing each of the metrics (discount rate, salary growth rate, and actuarial basis (mortality)) on a country-level:
(%)
As of March 31, 2024
Sensitivity analysisAustriaSwitzerlandFranceItalyKoreaTurkeyJapanSlovakiaSpainLebanon
Discount rate - decrease by 0.5%
 +4.7%  +8.6%  +7.0%  +4.5%  +5.4%  +5.6% +3.4%+11.3%+7.0%+9.5%
Discount rate - increase by 0.5%
-4.4 %-7.5 %-6.4 %-4.2 %-4.9 %-5.1 %-3.3 %-9.9 %-6.4 %-8.5 %
Salary growth rate - decrease by 0.5%
-4.4 %-0.5 %-6.5 %-4.0 %-4.9 %-5.1 %-3.2 %-9.5 %-6.4 %-4.4 %
Salary growth rate - increase by 0.5%
 +4.6%  +0.5%  +7.0%  +4.3%  +5.3%  +5.5% +3.3%+10.5%+7.0%+4.6%
Actuarial basis (mortality) (10.0)%
—  +1.0% — — — — — — — — 
Actuarial basis (mortality) 10.0%
— -1.1 %— — — — — — — — 
(%)
As of March 31, 2023
Sensitivity analysisAustriaSwitzerlandFranceItalyKoreaTurkeyJapanSlovakiaSpain
Discount rate - decrease by 0.5%
+5.2%+8.3%+7.2%+4.4%+5.6%+6.7%+3.9%+11.6%+5.4%
Discount rate - increase by 0.5%
-4.9 %-7.3 %-6.6 %-4.1 %-5.1 %-6.1 %-3.70-10.30-5.10
Salary growth rate - decrease by 0.5%
-4.9 %-0.4 %-6.6 %-4.0 %-5.1 %-6.0 %-3.60-9.80-5.10
Salary growth rate - increase by 0.5%
+5.2%+0.5%+7.2%+4.2%+5.5%+6.5%+3.8%+10.9%+5.4%
Actuarial basis (mortality) (10.0)%
—+0.9%———————
Actuarial basis (mortality) 10.0%
—-1.0 %———————
Disclosure of defined benefit plan, expense recognized in profit or loss explanatory
The amounts recognized in the income statement and the statement of comprehensive income are as follows:
(EUR thousand)For the financial year ended March 31
Amounts recognized in the income statement202420232022
Current service cost114 50 70 
Interest cost on benefit obligation22 14 11 
Total net periodic cost136 64 81