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Revenue

12 Months Ended

Mar. 31, 2020

24. Revenue


	Year ended March 31,
	2018		2019		2020
Rendering of services	₹	524,543	₹	571,301	₹	598,550
Sales of products		20,328		14,544		11,682

	₹	544,871	₹	585,845	₹	610,232

A.	Contract Assets and Liabilities

The Company classifies its right to consideration in exchange for deliverables as either a receivable or a contract asset.

A receivable is a right to consideration that is unconditional. A right to consideration is unconditional if only the passage of time is required before payment of that consideration is due. For example, the Company recognizes a receivable for revenues related to time and materials contracts or volume-based contracts. The Company presents such receivables as part of unbilled receivables at their net estimated realizable value. The same is tested for impairment as per the guidance in IFRS 9 using expected credit loss method.

Contract liabilities:

During the year ended March 31, 2019, the Company recognized revenue of

₹

14,570 arising from opening unearned revenue as at April 1, 2018. During the year ended March 31, 2020, the Company recognized revenue of

₹

21,193 arising from contract liabilities as at March 31, 2019.

Contract assets:

During the year ended March 31, 2019,

₹

13,558 of unbilled revenue pertaining to fixed-price development contracts (balance as at April 1, 2018:

₹

17,469), has been reclassified to receivables on completion of milestones. During the year ended March 31, 2020,

₹

13,068 of contract assets pertaining to fixed-price development contracts has been reclassified to receivables on completion of milestones.

Contract assets and liabilities are reported in a net position on a contract by contract basis at the end of each reporting period.

B.	Remaining Performance Obligations

Revenue allocated to remaining performance obligations represents contracted revenue that has not yet been recognized, which includes contract liabilities and amounts that will be invoiced and recognized as revenue in future periods. Applying the practical expedient, the Company has not disclosed its right to consideration from customers in an amount that corresponds directly with the value to the customer of the Company’s performance completed to date, which are contracts invoiced on time and material basis and volume based.

As at March 31, 2019, the aggregate amount of transaction price allocated to remaining performance obligations, other than those meeting the exclusion criteria above, was

₹

373,879 of which approximately 59% is expected to be recognized as revenues within two years, and the remainder thereafter. This includes contracts with a substantive enforceable termination penalty if the contract is terminated without cause by the customer, based on an overall assessment of the contract carried out at the time of inception. Historically, customers have not terminated contracts without cause.

As at March 31, 2020, the aggregate amount of transaction price allocated to remaining performance obligations, other than those meeting the exclusion criteria above, was

₹

360,033 of which approximately 62% is expected to be recognized as revenues within two years, and the remainder thereafter. This includes contracts with a substantive enforceable termination penalty if the contract is terminated without cause by the customer, based on an overall assessment of the contract carried out at the time of inception. Historically, customers have not terminated contracts without cause.

C.	Disaggregation of Revenues

The tables below present disaggregated revenues from contracts with customers by business segment, customer location and contract-type. The Company believes that the below disaggregation best depicts the nature, amount, timing and uncertainty of revenue and cash flows from economic factors.

Information on disaggregation of revenues for the year ended March 31, 2019 is as follows:


	IT Services																IT Products
	BFSI		Health BU		CBU		ENU		TECH		MFG		COMM		Total		IT Products		ISRE		Total
A. Revenue
Rendering of services		173,516		73,942		88,797		72,329		76,108		46,155		32,489		563,336		—		7,965		571,301
Sales of products		—		—		—		—		—		—		—		—		14,544		—		14,544

		173,516		73,942		88,797		72,329		76,108		46,155		32,489		563,336		14,544		7,965		585,845
B. Revenue by geography
India		3,868		2,295		1,006		1,690		1,392		1,534		3,095		14,880		8,154		7,965		30,999
Americas		98,428		57,204		59,262		22,739		54,679		21,541		7,694		321,547		2,112		—		323,659
Europe		46,856		7,591		17,636		29,795		16,441		18,211		7,420		143,950		2,240		—		146,190
Rest of the World		24,364		6,852		10,893		18,105		3,596		4,869		14,280		82,959		2,038		—		84,997

		173,516		73,942		88,797		72,329		76,108		46,155		32,489		563,336		14,544		7,965		585,845

C. Revenue by nature of contract
Fixed price and volume based		89,378		53,462		50,425		51,799		47,055		31,843		19,847		343,809		—		6,176		349,985
Time and materials		84,138		20,480		38,372		20,530		29,053		14,312		12,642		219,527		—		1,789		221,316
Products		—		—		—		—		—		—		—		—		14,544		—		14,544

		173,516		73,942		88,797		72,329		76,108		46,155		32,489		563,336		14,544		7,965		585,845

Information on disaggregation of revenues for the year ended March 31, 2020 is as follows:


	IT Services																IT Products
	BFSI		Health BU		CBU		ENU		TECH		MFG		COMM		Total		IT Products		ISRE		Total
A. Revenue
Rendering of services		183,368		77,794		96,509		75,958		75,446		47,859		33,655		590,589		—		7,961		598,550
Sales of products		—		—		—		—		—		—		—		—		11,682		—		11,682

		183,368		77,794		96,509		75,958		75,446		47,859		33,655		590,589		11,682		7,961		610,232
B. Revenue by geography
India		5,241		2,522		1,025		1,832		942		1,908		2,109		15,579		6,675		7,961		30,215
Americas		107,467		60,245		67,988		24,315		57,092		23,327		9,075		349,509		918		—		350,427
Europe		45,067		7,540		17,275		31,090		14,107		18,547		8,056		141,682		2,390		—		144,072
Rest of the World		25,593		7,487		10,221		18,721		3,305		4,077		14,415		83,819		1,699		—		85,518

		183,368		77,794		96,509		75,958		75,446		47,859		33,655		590,589		11,682		7,961		610,232

C. Revenue by nature of contract
Fixed price and volume based		101,875		49,951		53,575		52,084		49,733		33,793		21,908		362,919		—		6,415		369,334
Time and materials		81,493		27,843		42,934		23,874		25,713		14,066		11,747		227,670		—		1,546		229,216
Products		—		—		—		—		—		—		—		—		11,682		—		11,682

		183,368		77,794		96,509		75,958		75,446		47,859		33,655		590,589		11,682		7,961		610,232