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Financial instruments (Tables)

12 Months Ended

Mar. 31, 2019

Text block [abstract]

Summary of Financial Assets and Liabilities

Financial assets and liabilities (carrying value / fair value)

		As at March 31,
		2018				2019
Assets:
Cash and cash equivalents		₹	44,925			₹	158,529
Investments
Financial instrument at FVTPL			46,438				13,960
Financial instrument at FVTOCI			181,919				191,964
Financial instrument at Amortized cost			28,405				21,708
Other financial assets
Trade receivables			105,436				104,862
Unbilled receivables *			42,486				22,880
Other assets			11,615				19,757
Derivative assets			1,273				5,104
		₹	462,497			₹	538,764
Liabilities:
Trade payables and other payables
Trade payables and accrued expenses		₹	68,129			₹	88,304
Other liabilities			1,057				644
Loans, borrowings and bank overdrafts			138,259				99,467
Derivative liabilities			2,217				1,310
		₹	209,662			₹	189,725

* On account of adoption of IFRS 15, unbilled revenues pertaining to fixed price development contracts of ₹ 15,038, as at March 31, 2019, has been considered as non-financial Contract assets, which are billable upon completion of milestones specified in the contracts.

Summary of Offsetting Other Financial Assets and Trade Payable and Other Liabilities

The following table contains information on other financial assets and trade payable and other liabilities subject to offsetting:

		Financial assets
		Gross amounts of recognized other financial assets				Gross amounts of recognized financial liabilities set off in the balance sheet				Net amounts of recognized other financial assets presented in the balance sheet
As at March 31, 2018			165,985				(6,448	)			159,537
As at March 31, 2019			154,129				(6,630	)			147,499
		Financial liabilities
		Gross amounts of recognized trade payables and other payables				Gross amounts of recognized financial liabilities set off in the balance sheet				Net amounts of recognized trade payables and other payables presented in the balance sheet
As at March 31, 2018			75,634				(6,448	)			69,186
As at March 31, 2019			95,578				(6,630	)			88,948

Summary of Fair Value Hierarchy of Assets and Liabilities Measured at Fair Value of Recurring Basis

The following table presents fair value of hierarchy of assets and liabilities measured at fair value on a recurring basis:

Particular		As at March 31, 2018																As at March 31, 2019
		Fair value measurements at reporting date																Fair value measurements at reporting date
		Total				Level 1				Level 2				Level 3				Total				Level 1				Level 2				Level 3
Assets
Derivative instruments:
Cash flow hedges			1,139				—				1,139				—				3,149				—				3,149				—
Others			134				—				134				—				1,955				—				1,955				—
Investments:
Investment in liquid and short-term mutual funds			46,438				46,438				—				—				13,960				13,960				—				—
Investment in equity instruments			5,685				—				—				5,685				6,916				—				248				6,668
Commercial paper, Certificate of deposits and bonds			176,234				1,951				174,283				—				185,048				6,865				178,183
Liabilities
Derivative instruments:
Cash flow hedges			(1,276	)			—				(1,276	)			—				(130	)			—				(130	)			—
Others			(941	)			—				(941	)			—				(1,180	)			—				(1,180	)			—

Summary of Details of Assets and Liabilities Considered under Level 3 Classification

Details of assets and liabilities considered under Level 3 classification

		Investment in equity instruments				Derivative Assets- others				Liabilities- Contingent consideration
Balance as at April 1, 2017		₹	5,303			₹	426			₹	(339	)
Additions			1,851				—				—
Payouts			—				—				164
Transferred to Investments accounted for using the equity method			(357	)			—				—
Gain/loss recognized in consolidated statement of income			—				(426	)			167
Gain/loss recognized in foreign currency translation reserve			53				—				(32	)
Gain/loss recognized in other comprehensive income			(1,165	)			—				—
Finance expense recognized in consolidated statement of income			—				—				40
Balance as at March 31, 2018		₹	5,685			₹	—			₹	—
Balance as at April 1, 2018		₹	5,685			₹	—			₹	—
Additions			2,869				—				—
Transfers out of level 3			(647	)			—				—
Disposal			(1,341	)			—				—
Gain/loss recognized in foreign currency translation reserve			203				—				—
Gain/loss recognized in other comprehensive income			(101	)			—				—
Balance as at March 31, 2019		₹	6,668			₹	—				—

Summary of Significant Unobservable Inputs to Valuation

Description of significant unobservable inputs to valuation:

As at March 31, 2019

Items

Valuation technique

Significant unobservable input

Movement by

Increase (₹)

Decrease (₹)

Unquoted equity

Discounted

Long term growth rate

0.5

%

201

(187

)

Investments

cash flow model

Discount rate

0.5

%

(243

)

256

As at March 31, 2018

Items

Valuation technique

Significant unobservable input

Movement by

Increase (₹)

Decrease (₹)

Unquoted equity

Third party quote

Revenue achievement

1.0

%

18

(18

)

investments*

* Carrying value ₹ 1,545 as of March 31, 2018.

Summary of Aggregate Contracted Principal Amounts of Company's Derivative Contracts Outstanding

The following table presents the aggregate contracted principal amounts of the Company’s derivative contracts outstanding:

																						(in million)
		As at March 31,
		2018												2019
		Notional								Fair value				Notional								Fair value
Designated derivatives instruments
Sell : Forward contracts			USD				904			₹	951				USD				333			₹	1,410
			€				134			₹	(531	)			€				—				—
			£				147			₹	(667	)			£				—				—
			AUD				77			₹	29				AUD				97			₹	15
Range forward options contracts			USD				182			₹	5				USD				1,067			₹	1,149
			£				13			₹	5				£				191			₹	68
			€				10			₹	2				€				153			₹	349
			AUD				—				—				AUD				56			₹	39
Interest rate swaps			USD				75			₹	(7	)			USD				75			₹	(11	)
Non-designated derivatives instruments
Sell : Forward contracts			USD				939			₹	(360	)			USD				1,182			₹	1,359
			€				58			₹	6				€				32			₹	55
			£				95			₹	(56	)			£				1			₹	(1	)
			AUD				77			₹	68				AUD				82			₹	28
			SGD				6			₹	(1	)			SGD				11			₹	1
			ZAR				132			₹	(16	)			ZAR				56			₹	14
			CAD				14			₹	32				CAD				56			₹	40
			SAR				62				—				SAR				123				(1	)
			AED				8				—				AED				9				^
			PLN				36			₹	12				PLN				38			₹	15
			CHF				6			₹	3				CHF				10				^
			QAR				11			₹	(3	)			QAR				3			₹	(1	)
			TRY				10			₹	8				TRY				28			₹	12
			MXN				61			₹	(6	)			MXN				—				—
			NOK				34			₹	3				NOK				29			₹	4
			OMR				3			₹	(1	)			OMR				1			₹	(1	)
															SEK				35			₹	5
Range forward options contracts			USD				50			₹	(6	)			USD				150			₹	161
			€				—				—				€				31			₹	12
			£				20			₹	(2	)			£				71			₹	57
Buy : Forward contracts			USD				575			₹	(417	)			USD				730			₹	(971	)
			JPY				399			₹	6				JPY				154				^
			MXN				—				—				MXN				9				^
			DKK				9			₹	(1	)			DKK				75			₹	(13	)
										₹	(944	)										₹	3,794

^ Value is less than ₹ 1

Summary of Activity in Cash Flow Hedging Reserve within Equity Related to all Derivative Instruments Classified as Cash Flow Hedges

The following table summarizes activity in the cash flow hedging reserve within equity related to all derivative instruments classified as cash flow hedges:

		As at March 31,
		2018				2019
Balance as at the beginning of the year		₹	7,325			₹	(143	)
Deferred cancellation gain/ (loss), net			(6	)			6
Changes in fair value of effective portion of derivatives			(12	)			1,069
Net (gain)/loss reclassified to consolidated statement of income on occurrence of hedged transactions			(7,450	)			2,087
Gain/(loss) on cash flow hedging derivatives, net		₹	(7,468	)		₹	3,162
Balance as at the end of the year			(143	)			3,019
Deferred tax thereon			29				(604	)
Balance as at the end of the year, net of deferred tax		₹	(114	)		₹	2,415

Summary of Foreign Currency Risk from Non-derivative Financial Instruments

The below table presents foreign currency risk from non-derivative financial instruments as at March 31, 2018 and 2019:

		As at March 31, 2018
		US $				Euro				Pound Sterling				Australian Dollar				Canadian Dollar				Other currencies #				Total
Trade receivables		₹	32,948			₹	7,273			₹	6,585			₹	3,459			₹	990			₹	3,651			₹	54,906
Unbilled revenues			13,893				2,571				5,189				2,094				338				1,609				25,694
Cash and cash equivalent			9,144				3,791				1,685				786				34				2,241				17,681
Other assets			13,796				1,993				4,061				1,164				940				4,459				26,413
Loans, borrowings and bank overdrafts			(49,257	)			(41	)			(37	)			(165	)			—				(137	)			(49,637	)
Trade payables accrued expenses and other liabilities			(23,561	)			(3,962	)			(5,958	)			(1,516	)			(652	)			(2,942	)			(38,591	)
Net assets/ (liabilities)		₹	(3,037	)		₹	11,625			₹	11,525			₹	5,822			₹	1,650			₹	8,881			₹	36,466
		As at March 31, 2019
		US $				Euro				Pound Sterling				Australian Dollar				Canadian Dollar				Other currencies #				Total
Trade receivables		₹	39,896			₹	8,030			₹	5,212			₹	3,542			₹	1,528			₹	3,880			₹	62,088
Unbilled receivables			8,038				1,609				3,146				1,225				204				743				14,965
Contract assets			4,706				1,445				2,270				836				150				598				10,005
Cash and cash equivalent			21,997				2,884				1,573				1,003				1,928				2,204				31,589
Other assets			8,553				1,173				4,056				1,038				1,033				4,544				20,397
Loans, borrowings and bank overdrafts			(50,516	)			(20	)			(21	)			(33	)			—				(21	)			(50,611	)
Trade payables accrued expenses and other liabilities			(27,202	)			(5,779	)			(4,646	)			(1,526	)			(806	)			(2,787	)			(42,746	)
Net assets/ (liabilities)		₹	5,472			₹	9,342			₹	11,590			₹	6,085			₹	4,037			₹	9,161			₹	45,687

# Other currencies reflect currencies such as Saudi Riyal, Singapore Dollars, Danish Krone, etc.

Summary of Remaining Contractual Maturities of Significant Financial Liabilities at Reporting Date

The table below provides details regarding the remaining contractual maturities of significant financial liabilities at the reporting date. The amounts include estimated interest payments and exclude the impact of netting agreements, if any.

		As at March 31, 2018
		Carrying value				Less than 1 year				1-2 years				2-4 years				4-7 years				Total
Loans, borrowings and bank overdrafts		₹	138,259			₹	95,466			₹	18,997			₹	28,190			₹	6			₹	142,659
Trade payables and accrued expenses			68,129				68,129				—				—				—				68,129
Derivative liabilities			2,217				2,210				7				—				—				2,217
Other liabilities			1,057				1,050				7				—				—				1,057
		As at March 31, 2019
		Carrying value				Less than 1 year				1-2 years				2-4 years				4-7 years				Total
Loans, borrowings and bank overdrafts		₹	99,467			₹	73,559			₹	24,887			₹	4,309			₹	—			₹	102,755
Trade payables and accrued expenses			88,304				88,304				—				—				—				88,304
Derivative liabilities			1,310				1,310				—				—				—				1,310
Other liabilities			644				644				—				—				—				644

Summary of Balanced View of Liquidity and Financial Indebtedness

The balanced view of liquidity and financial indebtedness is stated in the table below. This calculation of the net cash position is used by the management for external communication with investors, analysts and rating agencies:

		As at March 31,
		2018				2019
Cash and cash equivalent		₹	44,925			₹	158,529
Investment			249,094				220,716
Loans and borrowings			(138,259	)			(99,467	)
		₹	155,760			₹	279,778

X

- Definition

The disclosure of how the entity manages its liquidity risk. [Refer: Liquidity risk [member]]

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