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Financial Instruments (Tables)

12 Months Ended

Mar. 31, 2022

Disclosure Of Financial Instruments [Abstract]

Summary of Maximum Exposure to Credit Risk

The carrying amount of financial assets represents the maximum credit exposure. The maximum exposure to credit risk at the reporting date was:

		As at March 31
Particulars		2021				2022
Trade and other receivables			27,331				39,623
Receivable from related party			55				53
Term deposits			154,868				264,185
Cash and cash equivalents (except cash in hand)			295,001				213,259
Total			477,255				517,120

The cash and cash equivalents and term deposits are mainly held with banks, which are rated AA+, A+, AAA, A, A-, AA-, BBB+ BB+, BBB-, based on rating agency Fitch ratings. The Group considers that its cash and cash equivalents and term deposits have low credit risk based on the external credit ratings of the counterparties.

The maximum exposure to credit risk for trade and other receivables at the reporting date by geographic region was:

		As at March 31
Particulars		2021				2022
India			23,571				34,185
Thailand			1,324				1,190
Malaysia			157				138
Singapore			188				370
Others			2,091				3,740
Total			27,331				39,623

The maximum exposure to credit risk for trade and other receivables at the reporting date by type of counterparty was:

		As at March 31
Particulars		2021				2022
Airlines			6,239				10,081
Retail customers			117				307
Corporate customers			10,757				14,905
Deposit with hotels and others			5,900				6,516
Others			4,318				7,814
Total			27,331				39,623

Summary of Age of Trade and Other Receivables, Term Deposits and Security Deposits

The age of trade and other receivables at the reporting date was:

		As at March 31
		2021								2022
Particulars		Gross				Impairment				Gross				Impairment
Not past due			11,937				—				19,827				—
Past due 0-30 days			7,600				—				11,407				—
Past due 30-120 days			4,704				—				5,564				—
More than 120 days			5,571				2,481				5,637				2,812
Total			29,812				2,481				42,435				2,812

Summary of Movement in Allowance for Doubtful Debts in Respect of Trade and Other Receivables

The movement in the allowance for impairment in respect of trade and other receivables during the year was as follows:

		For the year ended March 31
Particulars		2021				2022
Balance at the beginning of the year			2,893				2,481
Allowance for impairment			358				904
Amounts written off against the allowance			(908	)			(493	)
Effects of movement in exchange rate			138				(80	)
Balance at the end of the year			2,481				2,812

Summary of Contractual Maturities of Financial Liabilities, Including Estimated Interest Payments and Excluding Impact of Netting Agreements

The balanced view of liquidity and financial indebtedness (excluding lease liabilities) is stated in the table below:

		As at March 31
Particulars		2021				2022
Cash and cash equivalents			295,066				213,283
Term deposits			154,868				264,185
Loans and borrowings			(188,309	)			(202,632	)
Net cash position			261,625				274,836

The following are the contractual maturities of financial liabilities, including estimated interest payments and excluding the impact of netting agreements:

As at March 31, 2021

Non-derivative financial liabilities (including hybrid financial liabilities)		Carrying amount				Contractual cash flows*				6 months or less				6 -12 months				1 -2 years				2 -5 years				More than 5 years
Convertible notes			187,574				(230,000	)			—				—				—				(230,000	)			—
Lease liabilities			15,646				(21,956	)			(1,745	)			(1,798	)			(3,636	)			(8,318	)			(6,459	)
Secured bank loans			735				(824	)			(186	)			(174	)			(258	)			(206	)			—
Trade and other payables			53,581				(53,581	)			(53,581	)			—				—				—				—
Other liabilities (related to business combination)			14,875				(17,055	)			(5,685	)			—				(5,685	)			(5,685	)			—
Refund due to customers			49,527				(49,527	)			(49,527	)			—				—				—				—
Total			321,938				(372,943	)			(110,724	)			(1,972	)			(9,579	)			(244,209	)			(6,459	)

Notes: * Represents undiscounted cash flows of interest and principal

As at March 31, 2022

Non-derivative financial liabilities (including hybrid financial liabilities)		Carrying amount				Contractual cash flows*				6 months or less				6 -12 months				1 -2 years				2 -5 years				More than 5 years
Convertible notes			201,240				(230,000	)			—				—				(230,000	)			—				—
Lease liabilities			13,952				(18,847	)			(1,953	)			(1,706	)			(3,058	)			(8,269	)			(3,861	)
Secured bank loans			1,392				(1,590	)			(278	)			(249	)			(444	)			(619	)			—
Trade and other payables			62,827				(62,827	)			(62,827	)			—				—				—				—
Other liabilities (related to business combination)			10,075				(11,025	)			(5,513	)			—				(5,512	)			—				—
Other liabilities (related to Hotel Travel Group)			13,000				(13,000	)			(4,360	)			(4,320	)			(4,320	)			—				—
Refund due to customers			35,970				(35,970	)			(35,970	)			—				—				—				—
Total			338,456				(373,259	)			(110,901	)			(6,275	)			(243,334	)			(8,888	)			(3,861	)

Notes: * Represents undiscounted cash flows of interest and principal

Summary of Currency Risk

Between USD and INR

		As at March 31
Particulars		2021				2022
Trade and other receivables			956				1,288
Trade and other payables			(210,884	)			(277,577	)
Cash and cash equivalents			136				—
Net exposure			(209,792	)			(276,289	)

The following significant exchange rates applied during the year:

		Average exchange rate per unit						Reporting date rate per unit
		Financial Year						As at March 31
USD		2020-21		2021-22				2021		2022
INR 1		0.0135			0.0134			0.0136			0.0132

Sensitivity Analysis of Exchange Rate

This analysis is based on foreign currency exchange rate variances that the Group considered to be reasonably possible at the end of the reporting period. The analysis assumes that all other variables remain constant.

		For the year ended March 31
Particulars		2021				2022
10% strengthening of USD against INR			(19,072	)			(25,117	)

Summary of Fair Values of Financial Assets and Liabilities, together with Carrying Amounts

The fair values of financial assets and liabilities, together with the carrying amounts shown in the statement of financial position, are as follows:

		As at March 31, 2021								As at March 31, 2022
		Carrying amount				Fair value				Carrying amount				Fair value
Financial assets measured at fair value
Other investments - equity securities  (FVOCI)			5,409				5,409				452				452
Other investments - equity securities (FVTPL)			—				—				3,412				3,412
Other investments - other securities (FVTPL)			—				—				68				68
			5,409				5,409				3,932				3,932
Financial assets not measured at fair value (Amortised cost)
Trade and other receivables			27,331				27,331				39,623				39,623
Term deposits			154,868				154,868				264,185				264,185
Cash and cash equivalents			295,066				295,066				213,283				213,283
Receivable from related party			55				55				53				53
Other investments - other securities			99				99				99				99
			477,419				477,419				517,243				517,243
Financial liabilities measured at fair value
Other liabilities (related to business combination)			14,875				14,875				10,075				10,075
			14,875				14,875				10,075				10,075
Financial liabilities not measured at fair value (amortised cost)
Secured bank loans			735				735				1,392				1,392
Trade and other payable			53,581				53,581				62,827				62,827
Refund due to customers			49,527				49,527				35,970				35,970
Other liabilities (related to Hotel Travel Group)			—				—				13,000				13,000
Convertible notes			187,574				187,574				201,240				198,009
			291,417				291,417				314,429				311,198

Summary of Financial Instruments Carried at Fair Value

		As at March 31, 2021
Particulars		Level 1				Level 2				Level 3				Total
Other investments (equity securities-FVOCI)			—				—				5,409				5,409
Total Assets			—				—				5,409				5,409
Other liabilities (related to business combination)			—				—				14,875				14,875
Total Liabilities			—				—				14,875				14,875

		As at March 31, 2022
Particulars		Level 1				Level 2				Level 3				Total
Other investments - equity securities (FVOCI)			—				—				452				452
Other investments - equity securities (FVTPL)			—				—				3,412				3,412
Other investments - other securities (FVTPL)			68				—				—				68
Total Assets			68				—				3,864				3,932
Other liabilities (related to business combination)			—				—				10,075				10,075
Total Liabilities			—				—				10,075				10,075

Summary of Reconciliation Fair Value Measurements in Level 3 of Fair Value Hierarchy

  There were no transfers between Level 1, Level 2 and Level 3 during the year.

The following tables shows a reconciliation from the beginning balances to the ending balances for fair value measurement in Level 3 of the fair value hierarchy:

		As at March 31, 2021
Particulars		Other liabilities (related to business combination)				Other investments (equity securities-FVOCI)
Opening balances			14,921				3,584
Total gains and losses recognized in:
—profit or loss			(350	)			—
—other comprehensive income
-net change in fair value			—				1,825
-effect of movements in foreign    exchange rates			304				—
Closing balances			14,875				5,409

		As at March 31, 2022
Particulars		Other liabilities (related to business combination)				Other investments (equity securities-FVOCI)				Other investments (equity securities - FVTPL)
Opening balances			14,875				5,409				—
Acquired during the year (refer note 9)			—				—				3,412
Total gains and losses recognized in:
-      profit or loss			1,181				—				—
-      other comprehensive income (loss)
-net change in fair value			—				33,543				—
-effect of movements in foreign exchange rates			(368	)			—				—
Payment during the period (refer note 7 (b))			(5,613	)			—				—
Proceeds from sale of investment (refer note 9)			—				(38,500	)			—
Closing balances			10,075				452				3,412

Summary of Financial Instruments Measured at Fair Value

Financial Instruments measured at fair value:

Type		Valuation technique		Significant unobservable inputs		Inter- relationship between significant unobservable inputs and fair value measurement
Other investments - equity securities (FVOCI)		March 31, 2021: Discounted cash flows: The valuation model considers the present value of expected free cash flows, discounted using a risk adjusted discount rate.		Forecast annual revenue growth rate : March 31, 2021: 4% - 25% Forecast EBITDA margin: March 31, 2021: (3%) - 25% Risk adjusted discount rate: March 31, 2021: 17.0%		The estimated fair value would increase (decrease) if :   - the annual revenue growth rate were higher (lower)   - the EBITDA margin were higher (lower)   - the risk adjusted discount rate was lower (higher)
Other investments - equity securities (FVTPL)		Price of recent transaction		Not applicable		Not applicable
Other liabilities (related to business combination)		Discounted cash flows: The valuation model considers the present value of the expected future payments, discounted using a risk-adjusted discount rate.		Expected cash flows: USD 11,025 (March 31, 2021: USD 17,054) Risk-adjusted discount rate: 10.2% (March 31, 2021: 10.2% )		The estimated fair value would increase (decrease) if: – the expected cash flows were higher (lower); – the risk-adjusted discount rate were lower (higher).

Summary of Financial Instruments Not Measured at Fair Value

Financial Instruments not measured at fair value:

Type		Valuation technique		Significant unobservable inputs
Other financial assets and liabilities*		Discounted cash flows		Not applicable

Notes: * Other financial assets include trade and other receivables, term deposits, cash and cash equivalents, receivable from related party and other investments-other securities. Other financial liabilities include secured bank loans, trade and other payables, refund due to customers, convertible notes and lease liabilities.

Summary of Sensitivity Analysis for Other Investments

For the fair values of other investments-equity securities, reasonably possible changes of 100 basis points at the reporting date to one of the significant unobservable inputs, holding other inputs constant, would have the following effects:

		For the year ended March 31, 2021
		Other Comprehensive Income
		Increase						Decrease
Annual revenue growth rate			424						(414	)
EBITDA Margin			265						(265	)
Risk adjusted discount rate			(419	)					492

Summary of Other Liabilities Related to Business Combination

For the fair values of other liabilities related to business combination, reasonably possible changes of 100 basis points at the reporting date to one of the significant unobservable inputs, holding other inputs constant, would have the following effects:

		For the year ended March 31, 2021								For the year ended March 31, 2022
		Profit or loss								Profit or loss
		Increase				Decrease				Increase				Decrease
Risk adjusted discount rate			179				(185	)			77				(79	)

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