IGC Pharma, Inc. Fair Value Disclosure

NOTE 15 – FAIR VALUE OF FINANCIAL INSTRUMENTS

 

As of March 31, 2025, the Company’s marketable securities consist of liquid funds, which have been classified as Level 1 of the fair value hierarchy because they have been valued using quoted prices in active markets. The Company’s cash and cash equivalents have also been classified as Level 1 on the same principle. Financial instruments are classified as current if they are expected to be liquidated within the next twelve months. The Company’s remaining investments have been classified as Level 3 instruments as there is little or no market data. Level 3 investments are valued using the cost method. For further information refer Note 7, “Investments in Non-Marketable Securities.”

The following table presents information about the Company’s assets that are measured at fair value on a recurring basis as of March 31, 2025, and 2024, and indicates the fair value hierarchy of the valuation techniques the Company used to determine such fair value:

 

(in thousands)

As of March 31, 2025

 

Particular		Adjusted Cost ($)				Gain ($)				Loss ($)				Fair Value ($)				Cash & Cash Equivalents ($)				Short Term Investments ($)
Level 1
Cash			368				-				-				368				368				-
Money Market Fund			-				-				-				-				-				-
Debt Funds			-				-				-				-				-				-
Mutual Fund			-				-				-				-				-				-
Level 2
Certificates of Deposit			37				-				-				37				37				-
Level 3			-				-				-				-				-				-
TOTAL			405				-				-				405				405				-

 

As of March 31, 2024

 

Particular		Adjusted Cost ($)				Gain ($)				Loss ($)				Fair Value ($)				Cash & Cash Equivalents ($)				Short Term Investments ($)
Level 1
Cash			912				-				-				912				912				-
Money Market Fund			-				-				-				-				-				-
Debt Funds			13				-				-				13				13				-
Mutual Fund			123				-				-				123				123				-
Level 2
Certificates of Deposit			150				-				-				150				150				-
Level 3			-				-				-				-				-				-
TOTAL			1,198				-				-				1,198				1,198				-