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Loans, borrowings and bank overdrafts | 12 Months Ended
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Mar. 31, 2019
Text block [abstract] |
Loans, borrowings and bank overdrafts | 12. Loans, borrowings and bank overdrafts Short-term loans, borrowings and bank overdrafts The Company had loans, borrowings and bank overdrafts amounting to ₹ 79,598 and ₹ 68,085, as at March 31, 2018 and 2019, respectively. The principal source of borrowings from banks as at March 31, 2019 primarily consists of lines of credit of approximately ₹ 7,979 million, U.S. Dollar (U.S.$) 1,410 million, Canadian Dollar (CAD) 57 million, EURO 20 million and Indonesian Rupiah (IDR) 13,000 million from bankers for working capital requirements and other short-term needs. As at March 31, 2019, the Company has unutilized lines of credit aggregating U.S.$ 440 million, EURO 20 million, CAD 38 million, ₹ 7,957 million and IDR 13,000 million. To utilize these unused lines of credit, the Company requires consent of the lender and compliance with certain financial covenants. Significant portion of these lines of credit are revolving credit facilities and floating rate foreign currency loans, renewable on a periodic basis. Significant portion of these facilities bear floating rates of interest, referenced to LIBOR and a spread, determined based on market conditions. The Company has non-fund based revolving credit facilities in various currencies equivalent to ₹ 44,022 and ₹ 40,470, as at March 31, 2018 and 2019, respectively, towards operational requirements that can be used for the issuance of letters of credit and bank guarantees. As at March 31, 2018, and 2019, an amount of ₹ 22,476, and ₹ 22,014, respectively, was unutilized out of these non-fund based facilities. Long-term loans and borrowings
|  | As at March 31, 2018 |  |  | As at March 31, 2019 |
Currency |  | Foreign currency in millions |  |  | Indian Rupee |  |  | Foreign currency in millions |  |  | Indian Rupee |  |  | Interest rate |  |  | Final maturity |
Unsecured external commercial borrowing |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Dollar |  |  | 150 |  |  |  | 9,777 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Unsecured loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Dollar |  |  | 625 |  |  |  | 40,715 |  |  |  | 382 |  |  |  | 26,395 |  |  |  | 3.01% - 3.81 | % |  |  | July 2021 |
Canadian Dollar (CAD) |  |  | 72 |  |  |  | 3,660 |  |  |  | 52 |  |  |  | 2,701 |  |  |  | 1.48% - 3.26 | % |  |  | July 2021 |
Indian Rupee |  |  | — |  |  |  | 366 |  |  |  | — |  |  |  | 162 |  |  |  | 8.29% - 9.35 | % |  |  | December 2021 |
Australian Dollar (AUD) |  |  | 2 |  |  |  | 92 |  |  |  | 1 |  |  |  | 70 |  |  |  | 4.65 | % |  |  | January 2022 |
Great British Pound (GBP) |  |  | ^ |  |  |  | 42 |  |  |  | ^ |  |  |  | 31 |  |  |  | 2.93 | % |  |  | February 2022 |
Euro |  |  | ^ |  |  |  | 24 |  |  |  | ^ |  |  |  | 19 |  |  |  | 2.98 | % |  |  | December 2020 |
Brazilian Real (BRL) |  |  | 1 |  |  |  | 12 |  |  |  | ^ |  |  |  | 2 |  |  |  | 14.04 | % |  |  | May 2019 |
|  |  |  |  |  | ₹ | 54,688 |  |  |  |  |  |  | ₹ | 29,380 |  |  |  |  |  |  |  |  |
Obligations under finance leases |  |  |  |  |  |  | 5,442 |  |  |  |  |  |  |  | 2,002 |  |  |  |  |  |  |  |  |
Liabilities directly associated with assets held for sale |  |  |  |  |  |  | (1,469 | ) |  |  |  |  |  |  | — |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  | 3,973 |  |  |  |  |  |  |  | 2,002 |  |  |  |  |  |  |  |  |
|  |  |  |  |  | ₹ | 58,661 |  |  |  |  |  |  | ₹ | 31,382 |  |  |  |  |  |  |  |  |
Non-current portion of long term loans and borrowings |  |  |  |  |  |  | 45,268 |  |  |  |  |  |  |  | 28,368 |  |  |  |  |  |  |  |  |
Current portion of long term loans and borrowings |  |  |  |  |  |  | 13,393 |  |  |  |  |  |  |  | 3,014 |  |  |  |  |  |  |  |  |
^ Value is less than 1 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Changes in financing liabilities arising from cash and non-cash changes:
|  |  |  |  |  |  |  | Non-cash changes |  |  |  |  |  |  |
|  | April 1, 2017 |  |  | Cash flow |  |  | Assets taken on financial lease |  |  | Foreign exchange movements |  |  | Less: Liabilities directly associated with assets held for sale |  |  | March 31, 2018 |
Borrowings from banks |  | ₹ | 120,911 |  |  | ₹ | (6,661 | ) |  | ₹ | — |  |  | ₹ | 5,439 |  |  |  | — |  |  | ₹ | 119,689 |
Bank overdrafts |  |  | 1,992 |  |  |  | 2,007 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 3,999 |
External commercial borrowings |  |  | 9,728 |  |  |  | — |  |  |  | — |  |  |  | 49 |  |  |  | — |  |  |  | 9,777 |
Obligations under finance leases |  |  | 8,280 |  |  |  | (3,627 | ) |  |  | 766 |  |  |  | 23 |  |  |  | (1,469 | ) |  |  | 3,973 |
Loans from other than bank |  |  | 1,501 |  |  |  | (695 | ) |  |  | — |  |  |  | 15 |  |  |  | — |  |  |  | 821 |
|  | ₹ | 142,412 |  |  | ₹ | (8,976 | ) |  | ₹ | 766 |  |  | ₹ | 5,526 |  |  | ₹ | (1,469 | ) |  | ₹ | 138,259 |
|  |  |  |  |  |  |  |  |  |  | Non-cash changes |  |  |  |
|  |  |  |  | April 1, 2018 |  |  | Cash flow |  |  | Assets taken on financial lease |  |  | Foreign exchange movements |  |  | March 31, 2019 |
Borrowings from banks |  |  |  |  |  | ₹ | 119,689 |  |  | ₹ | (26,228 | ) |  | ₹ | — |  |  | ₹ | 3,518 |  |  | ₹ | 96,979 |
Bank overdrafts |  |  |  |  |  |  | 3,999 |  |  |  | (3,995 | ) |  |  | — |  |  |  | — |  |  |  | 4 |
External commercial borrowings |  |  |  |  |  |  | 9,777 |  |  |  | (10,064 | ) |  |  | — |  |  |  | 287 |  |  |  | — |
Obligations under finance leases |  |  |  |  |  |  | 3,973 |  |  |  | (2,234 | ) |  |  | 14 |  |  |  | 249 |  |  |  | 2,002 |
Loans from other than bank |  |  |  |  |  |  | 821 |  |  |  | (352 | ) |  |  | — |  |  |  | 13 |  |  |  | 482 |
|  |  |  |  |  | ₹ | 138,259 |  |  | ₹ | (42,873 | ) |  | ₹ | 14 |  |  | ₹ | 4,067 |  |  | ₹ | 99,467 |
The terms of the other secured and unsecured loans and borrowings also contain certain restrictive covenants primarily requiring the Company to maintain certain financial ratios. As at March 31, 2018 and 2019, the Company has met all the covenants under these arrangements. Obligations under finance leases amounting to ₹ 5,442 and ₹ 2,002 as at March 31, 2018 and 2019, respectively, are secured by underlying property, plant and equipment. Interest expense on borrowings was ₹ 1,916, ₹ 3,045 and ₹ 4,058 for the year ended March 31, 2017, 2018 and 2019, respectively. Finance lease payables consist of liabilities that are taken on lease for a contract term ranging from 1 to 5 years, with lease payments due in monthly or quarterly installments. Details of finance lease payables are given below:
|  | Minimum lease payments |  |  | Present value of minimum lease payment |
|  | As at March 31, |
|  | 2018 |  |  | 2019 |  |  | 2018 |  |  | 2019 |
Not later than one year |  | ₹ | 3,838 |  |  | ₹ | 1,555 |  |  | ₹ | 3,720 |  |  | ₹ | 1,506 |
Later than one year but not later than five years |  |  | 1,784 |  |  |  | 506 |  |  |  | 1,722 |  |  |  | 496 |
Later than five years |  |  | — |  |  |  |  |  |  |  | — |  |  |  |  |
Total minimum lease payments |  |  | 5,622 |  |  |  | 2,061 |  |  |  | 5,442 |  |  |  | 2,002 |
Less: Amounts representing interest |  |  | (180 | ) |  |  | (59 | ) |  |  | — |  |  |  | — |
Present value of minimum lease payment payables |  | ₹ | 5,442 |  |  | ₹ | 2,002 |  |  | ₹ | 5,442 |  |  | ₹ | 2,002 |
Liabilities directly associated with assets held for sale |  |  | (1,469 | ) |  |  | — |  |  |  | (1,469 | ) |  |  | — |
Obligation under finance lease |  | ₹ | 3,973 |  |  | ₹ | 2,002 |  |  | ₹ | 3,973 |  |  | ₹ | 2,002 |
Non-current finance lease payables |  |  |  |  |  |  |  |  |  |  | 1,722 |  |  |  | 496 |
Current finance lease payables |  |  |  |  |  |  |  |  |  |  | 2,251 |  |  |  | 1,506 |

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- Definition The disclosure of borrowings. [Refer: Borrowings] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2018-01-01 -Paragraph 10 -Subparagraph e -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&num=1&date=2018-03-01&anchor=para_10_e&doctype=Standard -URIDate 2018-03-16 + Details
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- Definition Text block [abstract] + References No definition available. + Details
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