Document and Entity Information
Document and Entity Information | 12 Months Ended |
Mar. 31, 2018shares | |
Document And Entity Information [Abstract] | |
Document Type | 20-F |
Amendment Flag | false |
Document Period End Date | Mar. 31, 2018 |
Document Fiscal Year Focus | 2,018 |
Document Fiscal Period Focus | FY |
Trading Symbol | INFY |
Entity Registrant Name | Infosys Ltd |
Entity Central Index Key | 1,067,491 |
Current Fiscal Year End Date | --03-31 |
Entity Well Known Seasoned Issuer | Yes |
Entity Current Reporting Status | Yes |
Entity Filer Category | Accelerated Filer |
Entity Common Stock Shares Outstanding | 2,184,114,257 |
Consolidated Balance Sheet
Consolidated Balance Sheet - USD ($) $ in Millions | Mar. 31, 2018 | Mar. 31, 2017 |
Current assets | ||
Cash and cash equivalents | $ 3,041 | $ 3,489 |
Current investments | 982 | 1,538 |
Trade receivables | 2,016 | 1,900 |
Unbilled revenues | 654 | 562 |
Prepayments and other current assets | 662 | 749 |
Derivative financial instruments | 2 | 44 |
Current assets other than asset held for sale | 7,357 | 8,282 |
Assets held for sale | 316 | |
Total current assets | 7,673 | 8,282 |
Non-current assets | ||
Property, plant and equipment | 1,863 | 1,807 |
Goodwill | 339 | 563 |
Intangible assets | 38 | 120 |
Investment in associate | 11 | |
Non-current investments | 883 | 984 |
Deferred income tax assets | 196 | 83 |
Income tax assets | 931 | 881 |
Other non-current assets | 332 | 123 |
Total non-current assets | 4,582 | 4,572 |
Total assets | 12,255 | 12,854 |
Current liabilities | ||
Trade payables | 107 | 57 |
Derivative financial instruments | 6 | |
Current income tax liabilities | 314 | 599 |
Client deposits | 6 | 5 |
Unearned revenues | 352 | 274 |
Employee benefit obligations | 218 | 209 |
Provisions | 75 | 63 |
Other current liabilities | 1,036 | 954 |
Current liabilities other than liabilities classified as held for sale | 2,114 | 2,161 |
Liabilities directly associated with assets held for sale | 50 | |
Total current liabilities | 2,164 | 2,161 |
Non-current liabilities | ||
Deferred income tax liabilities | 82 | 32 |
Employee benefit obligations | 7 | |
Other non-current liabilities | 42 | 24 |
Total liabilities | 2,295 | 2,217 |
Equity | ||
Share capital – ₹5/- ($0.16) par value 2,400,000,000 (2,400,000,000) authorized equity shares, issued and outstanding 2,173,312,301 (2,285,655,150) equity shares fully paid up, net of 10,801,956 (11,289,514) treasury shares each as of March 31, 2018 (March 31, 2017), respectively | 190 | 199 |
Share premium | 247 | 587 |
Retained earnings | 11,587 | 12,190 |
Cash flow hedge reserve | 6 | |
Other reserves | 244 | |
Capital redemption reserve | 9 | |
Other components of equity | (2,317) | (2,345) |
Total equity attributable to equity holders of the company | 9,960 | 10,637 |
Non-controlling interests | ||
Total equity | 9,960 | 10,637 |
Total liabilities and equity | $ 12,255 | $ 12,854 |
Consolidated Balance Sheet (Par
Consolidated Balance Sheet (Parenthetical) | Mar. 31, 2018₨ / sharesshares | Mar. 31, 2018$ / sharesshares | Mar. 31, 2017₨ / sharesshares | Mar. 31, 2017$ / sharesshares | |
Statement Of Financial Position [Abstract] | |||||
Par value per share | (per share) | ₨ 5 | $ 0.16 | ₨ 5 | $ 0.16 | |
Number of shares authorized | 2,400,000,000 | 2,400,000,000 | 2,400,000,000 | 2,400,000,000 | |
Number of shares issued | 2,173,312,301 | 2,173,312,301 | 2,285,655,150 | 2,285,655,150 | |
Number of shares outstanding | [1] | 2,173,312,301 | 2,173,312,301 | 2,285,655,150 | 2,285,655,150 |
Treasury shares net | 10,801,956 | 10,801,956 | 11,289,514 | 11,289,514 | |
[1] | excludes treasury shares of 10,801,956 as of March 31, 2018, 11,289,514 as of March 31, 2017 and 11,323,576 as of March 31, 2016 and 5,667,200 April 1, 2015, held by consolidated trust |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Millions | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Comprehensive Income [Abstract] | |||
Revenues | $ 10,939 | $ 10,208 | $ 9,501 |
Cost of sales | 7,001 | 6,446 | 5,950 |
Gross profit | 3,938 | 3,762 | 3,551 |
Operating expenses: | |||
Selling and marketing expenses | 552 | 535 | 522 |
Administrative expenses | 727 | 707 | 654 |
Total operating expenses | 1,279 | 1,242 | 1,176 |
Operating profit | 2,659 | 2,520 | 2,375 |
Other income, net | 495 | 459 | 476 |
Share in associate's profit/ (loss), including impairment | (11) | (5) | |
Profit before income taxes | 3,143 | 2,974 | 2,851 |
Income tax expense | 657 | 834 | 799 |
Net profit | 2,486 | 2,140 | 2,052 |
Items that will not be reclassified subsequently to profit or loss: | |||
Re-measurements of the net defined benefit liability / asset, net | 9 | (7) | (2) |
Cumulative impact on reversal of unrealized gain on quoted debt securities on adoption of IFRS 9 | (5) | ||
Equity instruments through other comprehensive income, net | 1 | (1) | |
Other comprehensive income that will not be reclassified to profit or loss, net of tax | 10 | (13) | (2) |
Items that will be reclassified subsequently to profit or loss: | |||
Fair valuation of investments, net | (2) | 6 | |
Fair value changes on derivatives designated as cash flow hedge, net | (6) | 6 | |
Foreign currency translation | 18 | 198 | (436) |
Total other comprehensive income that will be reclassified to profit or loss, net of tax | 12 | 202 | (430) |
Total other comprehensive income, net of tax | 22 | 189 | (432) |
Total comprehensive income | 2,508 | 2,329 | 1,620 |
Profit attributable to: | |||
Owners of the company | 2,486 | 2,140 | 2,052 |
Non-controlling interests | |||
Net profit | 2,486 | 2,140 | 2,052 |
Total comprehensive income attributable to: | |||
Owners of the company | 2,508 | 2,329 | 1,620 |
Non-controlling interests | |||
Total comprehensive income | $ 2,508 | $ 2,329 | $ 1,620 |
Earnings per equity share | |||
Basic ($) | $ 1.10 | $ 0.94 | $ 0.90 |
Diluted ($) | $ 1.10 | $ 0.94 | $ 0.90 |
Weighted average equity shares used in computing earnings per equity share | |||
Basic | 2,255,332,322 | 2,285,639,447 | 2,285,616,160 |
Diluted | 2,257,573,870 | 2,286,396,745 | 2,285,718,894 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Equity $ in Millions | USD ($)shares | Share CapitalUSD ($) | Share PremiumUSD ($) | Retained EarningsUSD ($) | Other ReservesUSD ($) | Capital Redemption ReserveUSD ($) | Cash Flow Hedge ReserveUSD ($) | Other Components of EquityUSD ($) | |
Balance at Mar. 31, 2015 | $ 8,762 | $ 109 | $ 659 | $ 10,090 | $ (2,096) | ||||
Balance, Shares at Mar. 31, 2015 | shares | [1] | 1,142,805,132 | |||||||
Changes in equity for the year | |||||||||
Shares issued on exercise of employee stock options (refer to note 2.16), Shares | shares | [1] | 10,824 | |||||||
Increase in share capital on account of bonus issue (1) (Refer to Note 2.13) | [2] | $ 90 | 90 | ||||||
Increase in share capital on account of bonus issue (1) (Refer to Note 2.13), Shares | shares | [1],[2] | 1,142,805,132 | |||||||
Amount utilized for bonus issue (1) (Refer to Note 2.13) | [2] | $ (90) | (90) | ||||||
Transfer to other reserves (Refer note 2.13) | (89) | $ 89 | |||||||
Transfer from other reserves on utilization (Refer note 2.13) | 89 | (89) | |||||||
Employee stock compensation expense (Refer to note 2.16) | 1 | 1 | |||||||
Fair valuation of investments (Refer note 2.2 and 2.17) * | 6 | 6 | |||||||
Re-measurement of the net defined benefit liability / asset* (Refer to Note 2.12 and 2.17) | (2) | (2) | |||||||
Dividends (including corporate dividend tax) | (1,059) | (1,059) | |||||||
Net profit | 2,052 | 2,052 | |||||||
Foreign currency translation | (436) | (436) | |||||||
Balance at Mar. 31, 2016 | $ 9,324 | 199 | 570 | 11,083 | (2,528) | ||||
Balance, Shares at Mar. 31, 2016 | shares | [1] | 2,285,621,088 | |||||||
Changes in equity for the year | |||||||||
Cumulative impact of Reversal of unrealized gain on quoted debt securities on adoption of IFRS 9 (Refer note 2.2) | $ (5) | (5) | |||||||
Shares issued on exercise of employee stock options (refer to note 2.16), Shares | shares | [1] | 34,062 | |||||||
Transfer to other reserves (Refer note 2.13) | (142) | 142 | |||||||
Transfer from other reserves on utilization (Refer note 2.13) | 142 | (142) | |||||||
Employee stock compensation expense (Refer to note 2.16) | $ 17 | 17 | |||||||
Fair value changes on derivatives designated as cash flow hedge* (refer note 2.3) | 6 | $ 6 | |||||||
Equity instruments through other comprehensive income *(Refer note 2.2 and 2.17) | (1) | (1) | |||||||
Fair valuation of investments (Refer note 2.2 and 2.17) * | (2) | (2) | |||||||
Re-measurement of the net defined benefit liability / asset* (Refer to Note 2.12 and 2.17) | (7) | (7) | |||||||
Dividends (including corporate dividend tax) | (1,033) | (1,033) | |||||||
Net profit | 2,140 | 2,140 | |||||||
Foreign currency translation | 198 | 198 | |||||||
Balance at Mar. 31, 2017 | $ 10,637 | 199 | 587 | 12,190 | 6 | (2,345) | |||
Balance, Shares at Mar. 31, 2017 | shares | [1] | 2,285,655,150 | |||||||
Changes in equity for the year | |||||||||
Shares issued on exercise of employee stock options (Refer to note 2.16) | $ 1 | 1 | |||||||
Shares issued on exercise of employee stock options (refer to note 2.16), Shares | shares | [1] | 700,629 | |||||||
Transfer to other reserves (Refer note 2.13) | (340) | 340 | |||||||
Transfer from other reserves on utilization (Refer note 2.13) | 96 | (96) | |||||||
Employee stock compensation expense (Refer to note 2.16) | $ 12 | 12 | |||||||
Amount paid upon buyback* (refer note 2.13) | $ (2,035) | (9) | (346) | (1,680) | |||||
Amount paid upon buyback* (refer note 2.13) | shares | [1] | (113,043,478) | |||||||
Transaction costs related to buyback* (refer note 2.13) | $ (7) | (7) | |||||||
Amount transferred to capital redemption reserve upon Buyback (refer note 2.13) | (9) | $ 9 | |||||||
Fair value changes on derivatives designated as cash flow hedge* (refer note 2.3) | (6) | $ (6) | |||||||
Equity instruments through other comprehensive income *(Refer note 2.2 and 2.17) | 1 | 1 | |||||||
Re-measurement of the net defined benefit liability / asset* (Refer to Note 2.12 and 2.17) | 9 | 9 | |||||||
Dividends (including corporate dividend tax) | (1,156) | (1,156) | |||||||
Net profit | 2,486 | 2,486 | |||||||
Foreign currency translation | 18 | 18 | |||||||
Balance at Mar. 31, 2018 | $ 9,960 | $ 190 | $ 247 | $ 11,587 | $ 244 | $ 9 | $ (2,317) | ||
Balance, Shares at Mar. 31, 2018 | shares | [1] | 2,173,312,301 | |||||||
[1] | excludes treasury shares of 10,801,956 as of March 31, 2018, 11,289,514 as of March 31, 2017 and 11,323,576 as of March 31, 2016 and 5,667,200 April 1, 2015, held by consolidated trust | ||||||||
[2] | net of treasury shares |
Consolidated Statements of Cha6
Consolidated Statements of Changes in Equity (Parenthetical) - shares | Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2015 |
Statement Of Changes In Equity [Abstract] | ||||
Treasury shares net | 10,801,956 | 11,289,514 | 11,323,576 | 5,667,200 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Millions | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Operating activities: | |||
Net profit | $ 2,486 | $ 2,140 | $ 2,052 |
Adjustments to reconcile net profit to net cash provided by operating activities: | |||
Depreciation and amortization | 289 | 254 | 222 |
Interest and dividend income | (129) | (51) | (27) |
Income tax expense | 657 | 834 | 799 |
Effect of exchange rate changes on assets and liabilities | 3 | 6 | 10 |
Deferred consideration pertaining to acquisition | 23 | ||
Impairment loss on financial assets | 5 | 20 | (7) |
Reduction in fair value of Disposal Group held for sale | 18 | ||
Share in net profit/(loss) of associate, including impairment | 11 | 5 | |
Stock compensation expense | 13 | 17 | 1 |
Other adjustments | (20) | 7 | 25 |
Changes in working capital | |||
Trade receivables and unbilled revenues | (237) | (260) | (252) |
Prepayments and other assets | (58) | (70) | (220) |
Trade payables | 51 | (3) | 37 |
Client deposits | 1 | 1 | |
Unearned revenues | 104 | 66 | 43 |
Other liabilities and provisions | 122 | (24) | 48 |
Cash generated from operations | 3,316 | 2,942 | 2,754 |
Income taxes paid | (1,059) | (843) | (892) |
Net cash provided by operating activities | 2,257 | 2,099 | 1,862 |
Investing activities: | |||
Expenditure on property, plant and equipment | (310) | (411) | (413) |
Loans to employees | 4 | 4 | (11) |
Payment for acquisition of business, net of cash acquired | (4) | (117) | |
Payment of contingent consideration pertaining to acquisition of business | (5) | (5) | |
Deposits placed with corporation | (20) | (25) | (22) |
Interest and dividend received | 67 | 32 | 26 |
Investment in quoted debt securities | (16) | (638) | (46) |
Redemption of quoted debt securities | 18 | 1 | |
Proceeds from sale of equity and preference securities | 5 | ||
Investment in equity and preference securities | (4) | (10) | (12) |
Investment in others | (4) | (4) | (3) |
Investment in certificates of deposit | (1,032) | (1,167) | |
Redemption of certificates of deposit | 1,503 | ||
Investment in commercial papers | (45) | ||
Investment in liquid mutual funds and fixed maturity plan securities | (9,628) | (8,083) | (3,676) |
Redemption of liquid mutual funds and fixed maturity plan securities | 9,953 | 7,759 | 3,800 |
Net cash used in investing activities | 482 | (2,547) | (474) |
Financing activities: | |||
Buyback of shares including transaction cost | (2,042) | ||
Shares issued on exercise of employee stock options | 1 | ||
Payment of dividends (including corporate dividend tax) | (1,156) | (1,032) | (1,059) |
Net cash used in financing activities | (3,197) | (1,032) | (1,059) |
Net increase/(decrease) in cash and cash equivalents | (458) | (1,480) | 329 |
Effect of exchange rate changes on cash and cash equivalents | 18 | 34 | (253) |
Cash and cash equivalents at the beginning | 3,489 | 4,935 | 4,859 |
Cash and cash equivalents at the end | 3,049 | 3,489 | 4,935 |
Supplementary information: | |||
Restricted cash balance | $ 82 | $ 88 | $ 74 |
Overview
Overview | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Significant Accounting Policies [Abstract] | |
Overview | 1. Overview 1.1 Company overview Infosys is a leading provider of consulting, technology, outsourcing and next-generation digital services and software. Along with its subsidiaries, Infosys provides Business IT services (comprising application development and maintenance, independent validation, infrastructure management, engineering services comprising product engineering and life cycle solutions and business process management); Consulting and systems integration services (comprising consulting, enterprise solutions, systems integration and advanced technologies); Products, business platforms and solutions to accelerate intellectual property-led innovation. Its new offerings span areas like digital, big data and analytics, cloud, data and mainframe modernization, cyber security, IoT engineering Services and API & micro services. Infosys together with its subsidiaries and controlled trusts is herein after referred to as the “Group”. The Company is a public limited company incorporated and domiciled in India and has its registered office at Bengaluru, Karnataka, India. The Company has its primary listings on the BSE Limited and National Stock Exchange of India Limited in India. The Company’s American Depositary Shares representing equity shares are listed on the New York Stock Exchange (NYSE). Further, the Company's ADS were also listed on the Euronext London and Euronext Paris. On July 5, 2018, the Company voluntarily delisted its ADS from Euronext London and Euronext Paris due to low average daily trading volume of its ADS on these exchanges. Infosys ADSs will continue to be listed on the NYSE and investors can continue to trade their ADSs on the New York Stock Exchange. The Group's consolidated financial statements are authorized for issue by the Company's Board of Directors on July 19, 2018. 1.2 Basis of preparation of financial statements These consolidated financial statements have been prepared in compliance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board, under the historical cost convention on the accrual basis except for certain financial instruments which have been measured at fair values. Accounting policies have been applied consistently to all periods presented in these consolidated financial statements. As the year-end figures are taken from the source and rounded to the nearest digits, the figures reported for the previous quarters might not always add up to the year-end figures reported in this statement. 1.3 Basis of consolidation Infosys consolidates entities which it owns or controls. The consolidated financial statements comprise the financial statements of the company, its controlled trusts and its subsidiaries. Control exists when the parent has power over the entity, is exposed, or has rights, to variable returns from its involvement with the entity and has the ability to affect those returns by using its power over the entity. Power is demonstrated through existing rights that give the ability to direct relevant activities, those which significantly affect the entity's returns. Subsidiaries are consolidated from the date control commences until the date control ceases. The financial statements of the Group companies are consolidated on a line-by-line basis and intra-group balances and transactions including unrealized gain / loss from such transactions are eliminated upon consolidation. These financial statements are prepared by applying uniform accounting policies in use at the Group. Non-controlling interests which represent part of the net profit or loss and net assets of subsidiaries that are not, directly or indirectly, owned or controlled by the company, are excluded. Associates are entities over which the group has significant influence but not control. Investments in associates are accounted for using the equity method of accounting. The investment is initially recognized at cost, and the carrying amount is increased or decreased to recognize the investor’s share of the profit or loss of the investee after the acquisition date. The group’s investment in associates includes goodwill identified on acquisition. 1.4 Use of estimates and judgements The preparation of the financial statements in conformity with IFRS requires management to make estimates, judgments and assumptions. These estimates, judgments and assumptions affect the application of accounting policies and the reported amounts of assets and liabilities, the disclosures of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the period. Application of accounting policies that require critical accounting estimates involving complex and subjective judgments and the use of assumptions in these financial statements have been disclosed in Note 1.5. Accounting estimates could change from period to period. Actual results could differ from those estimates. Appropriate changes in estimates are made as management becomes aware of changes in circumstances surrounding the estimates. Changes in estimates and judgments are reflected in the consolidated financial statements in the period in which changes are made and, if material, their effects are disclosed in the notes to the consolidated financial statements. 1.5 Critical accounting estimates and judgements a. Revenue recognition The group uses the percentage-of-completion method in accounting for its fixed-price contracts. Use of the percentage-of-completion method requires the group to estimate the efforts or costs expended to date as a proportion of the total efforts or costs to be expended. Efforts or costs expended have been used to measure progress towards completion as there is a direct relationship between input and productivity. Provisions for estimated losses, if any, on uncompleted contracts are recorded in the period in which such losses become probable based on the expected contract estimates at the reporting date. b. Income taxes The company's two major tax jurisdictions are India and the U.S., though the company also files tax returns in other overseas jurisdictions. Significant judgments are involved in determining the provision for income taxes, including amount expected to be paid/recovered for uncertain tax positions (Refer to Note 2.17). In assessing the realizability of deferred income tax assets, management considers whether some portion or all of the deferred income tax assets will not be realized. The ultimate realization of deferred income tax assets is dependent upon the generation of future taxable income during the periods in which the temporary differences become deductible. Management considers the scheduled reversals of deferred income tax liabilities, projected future taxable income and tax planning strategies in making this assessment. Based on the level of historical taxable income and projections for future taxable income over the periods in which the deferred income tax assets are deductible, management believes that the group will realize the benefits of those deductible differences. The amount of the deferred income tax assets considered realizable, however, could be reduced in the near term if estimates of future taxable income during the carry forward period are reduced. c. Business combinations and intangible assets Business combinations are accounted for using IFRS 3 (Revised), Business Combinations. IFRS 3 requires the identifiable intangible assets and contingent consideration to be fair valued in order to ascertain the net fair value of identifiable assets, liabilities and contingent liabilities of the acquiree. Significant estimates are required to be made in determining the value of contingent consideration and intangible assets. These valuations are conducted by independent valuation experts (Refer to Note 2.8 and 2.9). d. Property, plant and equipment Property, plant and equipment represent a significant proportion of the asset base of the Group. The charge in respect of periodic depreciation is derived after determining an estimate of an asset’s expected useful life and the expected residual value at the end of its life. The useful lives and residual values of the Group's assets are determined by management at the time the asset is acquired and reviewed periodically, including at each financial year end. The lives are based on historical experience with similar assets as well as anticipation of future events, which may impact their life, such as changes in technology (Refer to Note 2.7). e. Impairment of Goodwill Goodwill is tested for impairment on an annual basis and whenever there is an indication that the recoverable amount of a cash generating unit is less than its carrying amount based on a number of factors including operating results, business plans, future cash flows and economic conditions. The recoverable amount of cash generating units is determined based on higher of value-in-use and fair value less cost to sell. The goodwill impairment test is performed at the level of the cash-generating unit or groups of cash-generating units which are benefitting from the synergies of the acquisition and which represents the lowest level at which goodwill is monitored for internal management purposes. Market related information and estimates are used to determine the recoverable amount. Key assumptions on which management has based its determination of recoverable amount include estimated long term growth rates, weighted average cost of capital and estimated operating margins. Cash flow projections take into account past experience and represent management’s best estimate about future developments (Refer to Note 2.8). f. Disposal groups held for sale Assets and liabilities of disposal groups held for sale are measured at the lower of carrying amount and fair value less costs to sell. The determination of fair value less costs to sell includes use of management estimates and assumptions. The fair value of the disposal groups have been estimated using valuation techniques including income and market approach which includes unobservable inputs. In estimating the fair value, material events and developments, including progress on negotiations subsequent to Balance Sheet date, have been considered. (Refer to Note 2.9). 1.6 Recent accounting pronouncements 1.6.1 Standards issued but not yet effective IFRS 15 Revenue from Contract with Customers: In May 2014, the International Accounting Standards Board (IASB) issued IFRS 15, Revenue from Contract with Customers. The core principle of the new standard is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Further the new standard requires enhanced disclosures about the nature, amount, timing and uncertainty of revenue and cash flows arising from the entity’s contracts with customers. The standard permits two possible methods of transition: • Full retrospective approach - Under this approach the standard will be applied retrospectively to each prior reporting period presented in accordance with IAS 8- Accounting Policies, Changes in Accounting Estimates and Errors • Cumulative catch-up approach - Retrospectively with cumulative effect of initially applying the standard recognized at the date of initial application The effective date for adoption of IFRS 15 is annual periods beginning on or after January 1, 2018, though early adoption is permitted. On completion of evaluation of the effect of adoption of IFRS 15, the Group has decided to use the cumulative catch-up transition method and accordingly comparatives for the year ending or ended March 31, 2018 and March 31, 2017 will not be retrospectively adjusted. The effect on adoption of IFRS 15 is insignificant on the financial statements. IFRS 16 Leases : On January 13, 2016, the International Accounting Standards Board issued the final version of IFRS 16, Leases. IFRS 16 will replace the existing leases Standard, IAS 17 Leases, and related Interpretations. The Standard sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract i.e., the lessee and the lessor. IFRS 16 introduces a single lessee accounting model and requires a lessee to recognize assets and liabilities for all leases with a term of more than 12 months, unless the underlying asset is of low value. Currently, operating lease expenses are charged to the statement of comprehensive income. The Standard also contains enhanced disclosure requirements for lessees. IFRS 16 substantially carries forward the lessor accounting requirements in IAS 17. The effective date for adoption of IFRS 16 is annual periods beginning on or after January 1, 2019, though early adoption is permitted for companies applying IFRS 15 Revenue from Contracts with Customers. The Group is currently evaluating the requirements of IFRS 16 and the impact on the consolidated financial statements. IFRIC 22, Foreign currency transactions and Advance consideration: On December 8, 2016, the IFRS interpretations committee of the International Accounting Standards Board (IASB) issued IFRS interpretation, IFRIC 22, Foreign currency transactions and Advance consideration which clarifies the date of the transaction for the purpose of determining the exchange rate to use on initial recognition of the related asset, expense or income, when an entity has received or paid advance consideration in a foreign currency. The date of the transaction, for the purpose of determining the exchange rate, is the date of initial recognition of the non-monetary prepayment asset or deferred income liability. If there are multiple payments or receipts in advance, a date of transaction is established for each payment or receipt. The effective date for adoption of IFRIC 22 is annual reporting periods beginning on or after January 1, 2018, though early adoption is permitted. The Group has elected to adopt IFRIC 22 prospectively on April 1, 2018. The effect on account of adoption of IFRIC 22 on the financial statements is insignificant. IFRIC 23, Uncertainty over Income Tax Treatments : In June 2017, the International Accounting Standards Board (IASB) issued IFRS interpretation IFRIC 23 Uncertainty over Income Tax Treatments which is to be applied while performing the determination of taxable profit (or loss), tax bases, unused tax losses, unused tax credits and tax rates, when there is uncertainty over income tax treatments under IAS 12. According to IFRIC 23, companies need to determine the probability of the relevant tax authority accepting each tax treatment, or group of tax treatments, that the companies have used or plan to use in their income tax filing which has to be considered to compute the most likely amount or the expected value of the tax treatment when determining taxable profit (tax loss), tax bases, unused tax losses, unused tax credits and tax rates. The standard permits two possible methods of transition: Full retrospective approach – Under this approach, IFRIC 23 will be applied retrospectively to each prior reporting period presented in accordance with IAS 8 – Accounting Policies, Changes in Accounting Estimates and Errors. Retrospectively with cumulative effect of initially applying IFRIC 23 recognized by adjusting equity on initial application, without adjusting comparatives The effective date for adoption of IFRIC 23 is annual periods beginning on or after January 1, 2019, though early adoption is permitted. The Group is currently evaluating the effect of IFRIC 23 on the consolidated financial statements. Amendment to IAS 19 – Plan amendment, curtailment or settlement- On 7 February 2018, the IASB issued amendments to the guidance in IAS 19, ‘Employee Benefits’, in connection with accounting for plan amendments, curtailments and settlements. The amendments require an entity: • to use updated assumptions to determine current service cost and net interest for the remainder of the period after a plan amendment, curtailment or settlement; and • to recognise in profit or loss as part of past service cost, or a gain or loss on settlement, any reduction in a surplus, even if that surplus was not previously recognised because of the impact of the asset ceiling. Effective date for application of this amendment is annual period beginning on or after 1 January 2019, though early application is permitted. The Group is evaluating the effect of this amendment on the consolidated financial statements and the impact is not expected to be material. |
Cash and Cash Equivalents
Cash and Cash Equivalents | 12 Months Ended |
Mar. 31, 2018 | |
Cash And Cash Equivalents [Abstract] | |
Cash and cash equivalents | 2.1 Cash and cash equivalents Cash and cash equivalents consist of the following: (Dollars in millions) As of March 31, 2018 March 31, 2017 Cash and bank deposits 2,021 2,296 Deposits with financial institutions 1,020 1,193 3,041 3,489 Cash and cash equivalents included under assets classified as held for sale (Refer note no 2.9) 8 — 3,049 3,489 Cash and cash equivalents as of March 31, 2018 and March 31, 2017 include restricted cash and bank balances of $82 million and $88 million, respectively. The restrictions are primarily on account of cash and bank balances held by irrevocable trusts controlled by the Group, bank balances held as margin money deposits against guarantees and balances held in unpaid dividend bank accounts. The deposits maintained by the Group with banks and financial institution comprise of time deposits, which can be withdrawn by the Group at any point without prior notice or penalty on the principal. Refer note 2.3 for accounting policies on financial instruments. The table below provides details of cash and cash equivalents: (Dollars in millions) As of March 31, 2018 March 31, 2017 Current accounts ANZ Bank, Taiwan 1 – Banamex Bank, Mexico (U.S. Dollar account) 2 1 Bank of America, USA 180 159 Bank of America, Mexico 4 8 Bank of Zachodni WBK S.A., Poland 3 1 Barclays Bank, UK 6 – Bank Leumi, Israel (Israeli Sheqel account) – 2 BNP Paribas Bank, Norway 14 3 China Merchants Bank, China 1 1 Citibank N.A., Australia 34 3 Citibank N.A., Brazil 2 5 Citibank N.A., China 18 10 Citibank N.A., China (U.S. Dollar account) 1 2 Citibank N.A., Costa Rica – 1 Citibank N.A., Dubai 1 – Citibank N.A., EEFC (U.S. Dollar account) 1 – Citibank N.A., Hungary 1 – Citibank N.A., Japan 3 2 Citibank N.A., New Zealand 2 2 Citibank N.A., Portugal 1 – Citibank N.A., Singapore 1 – Citibank N.A., South Africa 5 2 Citibank N.A., USA 1 12 Commerzbank, Germany – 3 Deutsche Bank, Belgium 4 2 Deutsche Bank, Malaysia 1 1 Deutsche Bank, Czech Republic 2 1 Deutsche Bank, Czech Republic (Euro account) 1 1 Deutsche Bank, Czech Republic (U.S. dollar account) – 5 Deutsche Bank, France 3 1 Deutsche Bank, Germany 16 8 Deutsche Bank, India 7 2 Deutsche Bank, Netherlands 2 – Deutsche Bank, Philippines 4 1 Deutsche Bank, Philippines (U.S. dollar account) 1 1 Deutsche Bank, Poland (PLN account) 3 2 Deutsche Bank, Poland (Euro account) 1 1 Deutsche Bank, Russia 1 – Deutsche Bank, Russia (U.S. dollar account) 1 – Deutsche Bank, Singapore 3 1 Deutsche Bank, Switzerland 5 1 Deutsche Bank, United Kingdom 12 4 Deutsche Bank-EEFC (Australian Dollar account) – 6 Deutsche Bank-EEFC (Euro account) 5 4 Deutsche Bank-EEFC (U.S. dollar account) 5 12 Deutsche Bank-EEFC, India (United Kingdom Pound Sterling account) 1 2 Deutsche Bank, USA – 2 ICICI Bank 8 8 ICICI Bank-EEFC, India (U.S. dollar account) 6 1 ICICI Bank-EEFC, (United Kingdom pound sterling account) 2 – HSBC Bank, United Kingdom 1 – ICICI Bank - Unpaid dividend account 3 2 Nordbanken, Sweden 8 5 Raiffeisen Bank, Czech Republic 1 1 Raiffeisen Bank, Romania – 1 Royal Bank of Canada, Canada 26 13 State Bank of India, India – 1 Punjab National Bank, India 2 1 Silicon Valley Bank, USA – 1 Silicon Valley Bank (Euro account) – 3 Splitska Banka D.D., Societe Generale Group, Croatia 1 – Union Bank of Switzerland, AG (Euro account) – 1 Wells Fargo Bank N.A., USA – 5 418 318 Deposit accounts Axis Bank, India – 181 Bank BGZ BNP Paribas S.A 22 28 Barclays Bank 31 127 Canara Bank, India 36 40 Citibank, India 35 26 Deutsche Bank, AG 4 – Deutsche Bank, Poland 32 11 HDFC Bank, India 383 72 HSBC Bank – 77 ICICI Bank, India 568 751 IDBI Bank, India 38 270 IDFC Bank 230 31 Indusind Bank, India 154 29 Kotak Mahindra Bank, India – 83 South Indian Bank, India 69 69 Standard Chartered Bank – 77 Syndicate Bank, India – 8 Yes Bank, India 1 98 1,603 1,978 Deposits with financial institution HDFC Limited, India 836 1,085 LIC Housing Finance Limited 184 108 1,020 1,193 Total 3,041 3,489 |
Investments
Investments | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Investments Other Than Investments Accounted For Using Equity Method [Abstract] | |
Investments | 2.2 Investments The carrying value of investments are as follows: (Dollars in millions) As of March 31, 2018 March 31, 2017 Current investments Amortized cost: Quoted debt securities Cost – 2 Fair value through profit and loss: Liquid mutual funds Fair value 12 278 Fixed maturity plan securities Fair value – 23 Fair Value through Other comprehensive income: Quoted debt securities Fair value 117 16 Commercial paper Fair value 45 – Certificates of deposit Fair value 808 1,219 982 1,538 Non-Current investments Amortized cost: Quoted debt securities Cost 291 293 Fair value through Other comprehensive income: Quoted debt securities Fair value 493 597 Unquoted equity and preference securities Fair value 21 25 Fair value through profit and loss: Unquoted convertible promissory note Fair value 2 1 Fixed maturity plan securities Fair value 66 63 Others: Fair value 10 5 883 984 Total Investments 1,865 2,522 Investment carried at amortized cost 291 295 Investments carried at fair value through other comprehensive income 1,484 1,857 Investments carried at fair value through profit and loss 90 370 Note: Uncalled capital commitments outstanding as of March 31, 2018 and March 31, 2017 was $12 million and $18 million, respectively. Refer note 2.3 for accounting policies on financial instruments. Details of amounts recorded in other comprehensive income: (Dollars in millions) Net gain / (loss) on Year ended March 31, 2018 Gross Tax Net Quoted debt securities (2 ) – (2 ) Certificate of deposits 3 (1 ) 2 Unquoted equity and preference securities 1 – 1 Net gain / (loss) on Year ended March 31, 2017 Gross Tax Net Quoted debt securities (1 ) – (1 ) Certificate of deposits (1 ) – (1 ) Unquoted equity and preference securities (1 ) – (1 ) Net gain / (loss) on Year ended March 31, 2016 Gross Tax Net Quoted debt securities 7 (1 ) 6 Method of fair valuation: (Dollars in millions) Fair value As at March 31 Class of investment Method 2018 2017 Liquid mutual funds Quoted price 12 278 Fixed Maturity Plan securities Market observable inputs 66 86 Quoted debt securities- carried at amortized cost Quoted price and market observable inputs 330 334 Quoted debt securities- carried at Fair value through other comprehensive income Quoted price and market observable inputs 610 613 Commercial paper Market observable inputs 45 – Certificate of deposits Market observable inputs 808 1,219 Unquoted equity and preference securities Discounted cash flows method, Market multiples method, Option pricing model 21 25 Unquoted convertible promissory note Discounted cash flows method, Market multiples method, Option pricing model 2 1 Others Discounted cash flows method, Market multiples method, Option pricing model 10 5 1,904 2,561 Note: Certain quoted investments are classified as Level 2 in the absence of active market for such investments. |
Financial Instruments
Financial Instruments | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Financial Instruments [Abstract] | |
Financial Instruments | 2.3 Financial instruments Accounting policy Effective April 1, 2016, the group has elected to early adopt IFRS 9 - Financial Instruments considering April 1, 2015 as the date of initial application of the standard even though the stipulated effective date for adoption is April 1, 2018. The group has classified its financial assets into the following categories based on the business model for managing those assets and the contractual cash flow characteristics: • Financial assets carried at amortized cost • Financial assets fair valued through other comprehensive income • Financial assets fair valued through profit and loss The adoption of IFRS 9 did not have any other material impact on the consolidated financial statements, hence prior period figures have not been restated and the cumulative impact of $5 million has been recorded in other comprehensive income for the year ended March 31, 2017. 2.3.1 Initial recognition The group recognizes financial assets and financial liabilities when it becomes a party to the contractual provisions of the instrument. All financial assets and liabilities are recognized at fair value on initial recognition, except for trade receivables which are initially measured at transaction price. Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities that are not at fair value through profit or loss are added to the fair value on initial recognition. Regular way purchase and sale of financial assets are accounted for at trade date. 2.3.2 Subsequent measurement a. Non-derivative financial instruments (i) Financial assets carried at amortized cost A financial asset is subsequently measured at amortized cost if it is held within a business model whose objective is to hold the asset in order to collect contractual cash flows and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. (ii) Financial assets at fair value through other comprehensive income (FVOCI) A financial asset is subsequently measured at fair value through other comprehensive income if it is held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. The Group has made an irrevocable election for its investments which are classified as equity instruments to present the subsequent changes in fair value in other comprehensive income based on its business model. (iii) Financial assets at fair value through profit or loss (FVTPL) A financial asset which is not classified in any of the above categories are subsequently fair valued through profit or loss. (iv) Financial liabilities Financial liabilities are subsequently carried at amortized cost using the effective interest method, except for contingent consideration recognized in a business combination which is subsequently measured at fair value through profit or loss. For trade and other payables maturing within one year from the balance sheet date, the carrying amounts approximate fair value due to the short maturity of these instruments. b. Derivative financial instruments The Group holds derivative financial instruments such as foreign exchange forward and option contracts to mitigate the risk of changes in exchange rates on foreign currency exposures. The counterparty for these contracts is generally a bank. (i) Financial assets or financial liabilities, at fair value through profit or loss This category includes derivative financial assets or liabilities which are not designated as hedges. Although the group believes that these derivatives constitute hedges from an economic perspective, they may not qualify for hedge accounting under IFRS 9, Financial Instruments. Any derivative that is either not designated a hedge, or is so designated but is ineffective as per IFRS 9, is categorized as a financial asset or financial liability, at fair value through profit or loss. Derivatives not designated as hedges are recognized initially at fair value and attributable transaction costs are recognized in the statement of comprehensive income when incurred. Subsequent to initial recognition, these derivatives are measured at fair value through profit or loss and the resulting exchange gains or losses are included in other income. Assets/ liabilities in this category are presented as current assets/current liabilities if they are either held for trading or are expected to be realized within 12 months after the balance sheet date. (ii) Cash flow hedge The group designates certain foreign exchange forward and options contracts as cash flow hedges to mitigate the risk of foreign exchange exposure on highly probable forecast cash transactions. When a derivative is designated as a cash flow hedging instrument, the effective portion of changes in the fair value of the derivative is recognized in other comprehensive income and accumulated in the cash flow hedging reserve. Any ineffective portion of changes in the fair value of the derivative is recognized immediately in the statement of comprehensive income. If the hedging instrument no longer meets the criteria for hedge accounting, then hedge accounting is discontinued prospectively. If the hedging instrument expires or is sold, terminated or exercised, the cumulative gain or loss on the hedging instrument recognized in cash flow hedging reserve till the period the hedge was effective remains in cash flow hedging reserve until the forecasted transaction occurs. The cumulative gain or loss previously recognized in the cash flow hedging reserve is transferred to the statement of comprehensive income upon the occurrence of the related forecasted transaction. If the forecasted transaction is no longer expected to occur, then the amount accumulated in cash flow hedging reserve is reclassified to the statement of comprehensive income. 2.3.3 Derecognition of financial instruments The Group derecognizes a financial asset when the contractual rights to the cash flows from the financial asset expire or it transfers the financial asset and the transfer qualifies for derecognition under IFRS 9. A financial liability (or a part of a financial liability) is derecognized from the group's balance sheet when the obligation specified in the contract is discharged or cancelled or expires. 2.3.4 Fair value of financial instruments In determining the fair value of its financial instruments, the Group uses a variety of methods and assumptions that are based on market conditions and risks existing at each reporting date. The methods used to determine fair value include discounted cash flows, available quoted market prices and dealer quotes. All methods of assessing fair value result in general approximation of value, and such value may never actually be realized. Refer ‘Financial instruments by category’ below for the disclosure on carrying value and fair value of financial assets and liabilities. For financial assets and liabilities maturing within one year from the balance sheet date and which are not carried at fair value, the carrying amounts approximate fair value due to the short maturity of these instruments. 2.3.5 Impairment The Group recognizes loss allowances using the expected credit loss (ECL) model for the financial assets which are not fair valued through profit or loss. Loss allowance for trade receivables with no significant financing component is measured at an amount equal to lifetime ECL. For all other financial assets, expected credit losses are measured at an amount equal to the 12-month ECL, unless there has been a significant increase in credit risk from initial recognition in which case those are measured at lifetime ECL. The amount of expected credit losses (or reversal) that is required to adjust the loss allowance at the reporting date to the amount that is required to be recognized is recognized as an impairment gain or loss in statement of comprehensive income. Financial instruments by category The carrying value and fair value of financial instruments by categories as of March 31, 2018 were as follows: (Dollars in millions) Amortised cost Financial assets/ liabilities at fair value through profit or loss Financial assets/liabilities at fair value through OCI Total carrying value Total fair value Designated upon initial recognition Mandatory Equity instruments designated upon initial recognition Mandatory Assets: Cash and cash equivalents (Refer to Note 2.1) 3,041 – – – – 3,041 3,041 Investments (Refer Note 2.2) Liquid mutual funds – – 12 – – 12 12 Fixed maturity plan securities – – 66 – – 66 66 Quoted debt securities 291 – – – 610 901 940 (1) Certificates of deposit – – – – 808 808 808 Commercial paper – – – – 45 45 45 Unquoted equity and preference securities – – – 21 – 21 21 Unquoted investments others – – 10 – – 10 10 Unquoted convertible promissory note – – 2 – – 2 2 Trade receivables 2,016 – – – – 2,016 2,016 Unbilled revenues 654 – – – – 654 654 Prepayments and other assets (Refer to Note 2.4) 456 – – – – 456 443 (2) Derivative financial instruments – – – – 2 2 2 Total 6,458 – 90 21 1,465 8,034 8,060 Liabilities: Trade payables 107 – – – – 107 107 Derivative financial instruments – – 6 – – 6 6 Other liabilities including contingent consideration (Refer note 2.5) 836 – 8 – – 844 844 Total 943 – 14 – – 957 957 (1) On account of fair value changes including interest accrued (2) Excludes interest accrued on quoted debt securities carried at amortized cost The carrying value and fair value of financial instruments by categories as of March 31, 2017 were as follows: (Dollars in millions) Amortised cost Financial assets/ liabilities at fair value through profit or loss Financial assets/liabilities at fair value through OCI Total carrying value Total fair value Designated upon initial recognition Mandatory Equity instruments designated upon initial recognition Mandatory Assets: Cash and cash equivalents (Refer to Note 2.1) 3,489 – – – – 3,489 3,489 Investments (Refer Note 2.2) Liquid mutual funds – – 278 – – 278 278 Fixed maturity plan securities – – 86 – – 86 86 Quoted debt securities 295 – – – 613 908 947 (1) Certificates of deposit – – – – 1,219 1,219 1,219 Unquoted equity and preference securities: – – – 25 – 25 25 Unquoted investments others – – 5 – – 5 5 Unquoted convertible promissory note: – – 1 – – 1 1 Trade receivables 1,900 – – – – 1,900 1,900 Unbilled revenues 562 – – – – 562 562 Prepayments and other assets (Refer to Note 2.4) 410 – – – – 410 397 (2) Derivative financial instruments – – 36 – 8 44 44 Total 6,656 – 406 25 1,840 8,927 8,953 Liabilities: Trade payables 57 – – – – 57 57 Other liabilities including contingent consideration 768 – 13 – – 781 781 Total 825 – 13 – – 838 838 (1) On account of fair value changes including interest accrued (2) Excludes interest accrued on quoted debt securities carried at amortized cost Fair value hierarchy Level 1 - Quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices). Level 3 - Inputs for the assets or liabilities that are not based on observable market data (unobservable inputs). Fair value hierarchy of assets and liabilities as of March 31, 2018: (Dollars in millions) As of March 31, 2018 Fair value measurement at end of the reporting year using Level 1 Level 2 Level 3 Assets Investments in liquid mutual fund units (Refer to Note 2.2) 12 12 – – Investments in fixed maturity plans (Refer Note 2.2) 66 – 66 – Investments in quoted debt securities (Refer to Note 2.2) 940 701 239 – Investments in certificate of deposit (Refer Note 2.2) 808 – 808 – Investments in commercial paper (Refer Note 2.2) 45 – 45 – Investments in unquoted equity and preference securities (Refer to Note 2.2) 21 – – 21 Investment in unquoted investments others (Refer Note 2.2) 10 – – 10 Investments in unquoted convertible promissory note (Refer to Note 2.2) 2 – – 2 Derivative financial instruments- gain on outstanding foreign exchange forward and option contracts 2 – 2 – Liabilities Derivative financial instruments- loss on outstanding foreign exchange forward and option contracts 6 – 6 – Liability towards contingent consideration (Refer note 2.5)* 8 – – 8 * Includes $3 million pertaining to Brilliant Basics discounted at 10%. During the year ended March 31, 2018, quoted debt securities of $130 million were transferred from Level 1 to Level 2 of fair value hierarchy, since these were valued based on market observable inputs and quoted debt securities of $276 million were transferred from Level 2 to Level 1 of fair value hierarchy, since these were valued based on quoted price. Fair value hierarchy of assets and liabilities as of March 31, 2017: (Dollars in millions) As of March 31, 2017 Fair value measurement at end of the reporting period using Level 1 Level 2 Level 3 Assets Investments in liquid mutual fund units (Refer to Note 2.2) 278 278 – – Investments in fixed maturity plans (Refer Note 2.2) 86 – 86 – Investments in quoted debt securities (Refer to Note 2.2) 947 565 382 – Investments in certificate of deposit (Refer Note 2.2) 1,219 – 1,219 – Investments in unqouted equity and preference securities (Refer to Note 2.2) 25 – – 25 Investment in unquoted investments others (Refer Note 2.2) 5 – – 5 Investments in unqouted convertible promissory note (Refer to Note 2.2) 1 – – 1 Derivative financial instruments- gain on outstanding foreign exchange forward and option contracts 44 – 44 – Liabilities Liability towards contingent consideration (Refer note 2.5)* 13 – – 13 * Discounted $14 million at 14.2%. A one percentage point change in the unobservable inputs used in fair valuation of Level 3 assets and liabilities does not have a significant impact in its value. Income from financial assets (Dollars in millions) Year ended March 31, 2018 2017 2016 Interest income on financial assets carried at amortized cost 260 352 402 Interest income on financial assets fair valued through other comprehensive income 106 28 – Dividend income on investments carried at fair value through profit or loss 1 4 10 Gain / (loss) on investments carried at fair value through profit or loss 39 18 – 406 402 412 Financial risk management Financial risk factors The Group's activities expose it to a variety of financial risks: market risk, credit risk and liquidity risk. The Group's primary focus is to foresee the unpredictability of financial markets and seek to minimize potential adverse effects on its financial performance. The primary market risk to the Group is foreign exchange risk. The Group uses derivative financial instruments to mitigate foreign exchange related risk exposures. The Group's exposure to credit risk is influenced mainly by the individual characteristic of each customer and the concentration of risk from the top few customers. Market risk The Group operates internationally and a major portion of the business is transacted in several currencies and consequently the Group is exposed to foreign exchange risk through its sales and services in the United States and elsewhere, and purchases from overseas suppliers in various foreign currencies. The Group holds derivative financial instruments such as foreign exchange forward and option contracts to mitigate the risk of changes in exchange rates on foreign currency exposures. The exchange rate between the Indian rupee and foreign currencies has changed substantially in recent years and may fluctuate substantially in the future. Consequently, the results of the Group’s operations are adversely affected as the rupee appreciates/ depreciates against these currencies. The following table analyzes foreign currency risk from financial instruments as of March 31, 2018: (Dollars in millions) U.S. dollars Euro United Kingdom Pound Sterling Australian dollars Other currencies Total Cash and cash equivalents 197 33 23 54 183 490 Trade receivables 1,276 269 129 121 120 1,915 Unbilled revenues 356 98 46 24 57 581 Other assets 49 4 4 2 15 74 Trade payables (42) (12) (17) (5) (9) (85) Accrued expenses (166) (29) (17) (9) (23) (244) Employee benefit obligations (88) (13) (4) (28) (20) (153) Other liabilities (97) (21) (12) (5) (49) (184) Net assets / (liabilities) 1,485 329 152 154 274 2,394 The following table analyzes foreign currency risk from financial instruments as of March 31, 2017: (Dollars in millions) U.S. dollars Euro United Kingdom Pound Sterling Australian dollars Other currencies Total Cash and cash equivalents 206 20 6 28 108 368 Trade receivables 1,287 192 119 87 108 1,793 Unbilled revenues 376 68 50 19 47 560 Other assets 65 15 7 6 15 108 Trade payables (18) (5) (2) (1) (24) (50) Accrued expenses (147) (33) (22) (6) (23) (231) Employee benefit obligations (86) (13) (3) (23) (19) (144) Other liabilities (96) (17) (7) (3) (43) (166) Net assets / (liabilities) 1,587 227 148 107 169 2,238 For the years ended March 31, 2018, 2017 and 2016, every percentage point depreciation / appreciation in the exchange rate between the Indian rupee and the U.S. dollar has affected the company's incremental operating margins by approximately 0.50%, 0.50% and 0.50%, respectively. Sensitivity analysis is computed based on the changes in the income and expenses in foreign currency upon conversion into functional currency, due to exchange rate fluctuations between the previous reporting period and the current reporting period. Derivative financial instruments The Group holds derivative financial instruments such as foreign exchange forward and option contracts to mitigate the risk of changes in exchange rates on foreign currency exposures. The counterparty for these contracts is generally a bank. These derivative financial instruments are valued based on quoted prices for similar assets and liabilities in active markets or inputs that are directly or indirectly observable in the marketplace. The following table gives details in respect of outstanding foreign exchange forward and options contracts: (In millions) As of March 31, 2018 March 31, 2017 Derivatives designated as cash flow hedges Forward contracts In Euro – 95 In United Kingdom Pound Sterling – 40 In Australian dollars – 130 Option Contracts In Australian dollars 60 – In Euro 100 40 In United Kingdom Pound Sterling 20 – Other derivatives Forward contracts In Australian dollars 5 35 In Canadian dollars 20 – In Euro 91 114 In Japanese Yen 550 – In New Zealand dollars 16 – In Norwegian Krone 40 – In Singapore dollars 5 5 In South African Rand 25 – In Swedish Krona 50 50 In Swiss Franc 21 10 In U.S. Dollars 623 526 In United Kingdom Pound Sterling 51 75 Option contracts In Australian dollars 20 – In Canadian dollars – 13 In Euro 45 25 In Swiss Franc 5 – In U.S. Dollars 320 195 In United Kingdom Pound Sterling 25 30 The Group recognized a net gain of less than $1 million, $89 million and $4 million on derivative financial instruments for the year ended March 31, 2018, 2017 and 2016, respectively, which are included under other income. The foreign exchange forward and option contracts mature within 12 months. The table below analyzes the derivative financial instruments into relevant maturity groupings based on the remaining period as of the balance sheet date: (Dollars in millions) As of March 31, 2018 March 31, 2017 Not later than one month 434 355 Later than one month and not later than three months 701 666 Later than three months and not later than one year 378 329 1,513 1,350 During the year ended March 31, 2018 and March 31, 2017, the Group has designated certain foreign exchange forward and option contracts as cash flow hedges to mitigate the risk of foreign exchange exposure on highly probable forecast cash transactions. The related hedge transactions for balance in cash flow hedging reserve as of March 31, 2018 are expected to occur and reclassified to profit or loss within 3 months. Hedge effectiveness is determined at the inception of the hedge relationship, and through periodic prospective effectiveness assessments to ensure that an economic relationship exists between the hedged item and hedging instrument, including whether the hedging instrument is expected to offset changes in cash flows of hedged items. If the hedge ratio for risk management purposes is no longer optimal but the risk management objective remains unchanged and the hedge continues to qualify for hedge accounting, the hedge relationship will be rebalanced by adjusting either the volume of the hedging instrument or the volume of the hedged item so that the hedge ratio aligns with the ratio used for risk management purposes. Any hedge ineffectiveness is calculated and accounted for in profit or loss at the time of the hedge relationship rebalancing. The following table provides the reconciliation of cash flow hedge reserve: (Dollars in millions) Year ended March 31, 2018 Year ended March 31, 2017 Gain / (Loss) Balance at the beginning of the period 6 – Gain / (Loss) recognized in other comprehensive income during the period (14) 18 Amount reclassified to profit or loss during the period 6 (10) Tax impact on above 2 (2) Balance at the end of the period – 6 The Group offsets a financial asset and a financial liability when it currently has a legally enforceable right to set off the recognized amounts and the group intends either to settle on a net basis, or to realize the asset and settle the liability simultaneously. The following table provides quantitative information about offsetting of derivative financial assets and derivative financial liabilities: (Dollars in millions) As of As of March 31, 2018 March 31, 2017 Derivative financial asset Derivative financial liability Derivative financial asset Derivative financial liability Gross amount of recognized financial asset/liability 3 (7) 44 – Amount set off (1) 1 – – Net amount presented in balance sheet 2 (6) 44 – Credit risk Credit risk refers to the risk of default on its obligation by the counterparty resulting in a financial loss. The maximum exposure to the credit risk at the reporting date is primarily from trade receivables amounting to $2,016 million and $1,900 million as of March 31, 2018 and March 31, 2017, respectively and unbilled revenue amounting to $654 million and $562 million as of March 31, 2018 and March 31, 2017, respectively. Trade receivables and unbilled revenue are typically unsecured and are derived from revenue earned from customers primarily located in the United States. Credit risk has always been managed by the Group through credit approvals, establishing credit limits and continuously monitoring the creditworthiness of customers to which the Group grants credit terms in the normal course of business. The Group uses a provision matrix to compute the expected credit loss allowance for trade receivables and unbilled revenues. The provision matrix takes into account available external and internal credit risk factors such as credit default swap quotes, credit ratings from international credit rating agencies and the Group's historical experience for customers. The following table gives details in respect of percentage of revenues generated from top customer and top ten customers: (In %) Year ended March 31, 2018 2017 2016 Revenue from top customer 3.4 3.4 3.6 Revenue from top ten customers 19.3 21.0 22.5 Credit risk exposure The allowance for lifetime expected credit loss on customer balances for the year ended March 31, 2018 was $5 million and March 31, 2017 was $20 million, respectively. The reversal of allowance for lifetime expected credit loss on customer balances for the year ended March 31, 2016 was $7 million. Movement in credit loss allowance (Dollars in millions) Year ended March 31, 2018 2017 2016 Balance at the beginning 63 44 59 Translation differences 2 (1) (3) Impairment loss recognized/(reversed) 5 20 (7) Write offs (1) – (5) Balance at the end 69 63 44 The Group’s credit period generally ranges from 30-60 days. Credit exposure (Dollars in millions except as otherwise stated) As of March 31, 2018 March 31, 2017 Trade receivables 2,016 1,900 Unbilled revenues 654 562 Days Sales Outstanding (DSO) as of March 31, 2018 and March 31, 2017 was 67 days and 68 days respectively. Credit risk on cash and cash equivalents is limited as we generally invest in deposits with banks and financial institutions with high credit ratings assigned by international and domestic credit rating agencies. Investments primarily include investment in liquid mutual fund units, fixed maturity plans, quoted bonds issued by government and quasi government organizations, non-convertible debentures, certificates of deposit and commercial papers. Liquidity risk The Group's principal sources of liquidity are cash and cash equivalents and the cash flow that is generated from operations. The Group has no outstanding borrowings. The Group believes that the working capital is sufficient to meet its current requirements. As of March 31, 2018, the Group had a working capital of $5,243 million including cash and cash equivalents of $3,041 million and current investments of $982 million. As of March 31, 2017, the Group had a working capital of $6,121 million including cash and cash equivalents of $3,489 million and current investments of $1,538 million. As of March 31, 2018 and March 31, 2017, the outstanding employee benefit obligations were $225 million and $209 million, respectively, which have been substantially funded. Accordingly, no liquidity risk is perceived. The table below provides details regarding the contractual maturities of significant financial liabilities as of March 31, 2018: (Dollars in millions) Particulars Less than 1 year 1-2 years 2-4 years 4-7 years Total Trade payables 107 – – – 107 Other liabilities (excluding liabilities towards contingent consideration - Refer to note 2.5) 836 – – – 836 Liability towards contingent consideration on an undiscounted basis - (Refer to Note 2.5) 6 1 1 – 8 The table below provides details regarding the contractual maturities of significant financial liabilities as of March 31, 2017: (Dollars in millions) Particulars Less than 1 year 1-2 years 2-4 years 4-7 years Total Trade payables 57 – – – 57 Other liabilities (excluding liabilities towards contingent consideration - Refer to note 2.5) 763 5 – – 768 Liability towards contingent consideration on an undiscounted basis - (Refer to Note 2.5) 7 7 – – 14 |
Prepayments and Other Assets
Prepayments and Other Assets | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Financial Instruments [Abstract] | |
Prepayments and other assets | 2.4 Prepayments and other assets Prepayments and other assets consist of the following: (Dollars in millions) As of March 31, 2018 March 31, 2017 Current Rental deposits 2 1 Security deposits 1 2 Loans to employees 37 42 Prepaid expenses (1) 72 68 Interest accrued and not due 117 89 Withholding taxes and others (1) 158 291 Advance payments to vendors for supply of goods (1) 18 20 Deposit with corporation 236 218 Deferred contract cost (1) 7 12 Other assets 14 6 662 749 Non-current Loans to employees 6 5 Security deposits 8 13 Deposit with corporation 9 7 Prepaid gratuity (Refer note 2.12.1) (1) 7 12 Prepaid expenses (1) 17 15 Deferred contract cost (1) 40 44 Withholding taxes and others (1) 219 – Rental deposits 26 27 332 123 994 872 Financial assets in prepayments and other assets 456 410 (1) Non-financial assets Withholding taxes and others primarily consist of input tax credits. Security deposits relate principally to leased telephone lines and electricity supplies. Deferred contract costs are upfront costs incurred for the contract and are amortized over the term of the contract. Deposit with corporation represents amounts deposited to settle certain employee-related obligations as and when they arise during the normal course of business. |
Other Liabilities
Other Liabilities | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Other Liabilities [Abstract] | |
Other Liabilities | 2.5 Other liabilities Other liabilities comprise the following: (Dollars in millions) As of March 31, 2018 March 31, 2017 Current Accrued compensation to employees 385 290 Accrued expenses 376 399 Withholding taxes and others (1) 190 189 Retention money 20 34 Liabilities of controlled trusts 21 22 Liability towards contingent consideration (Refer note 2.9) 6 7 Deferred rent (1) 4 – Others 34 13 1,036 954 Non-current Liability towards contingent consideration (Refer note 2.9) 2 6 Accrued compensation to employees – 5 Accrued gratuity (Refer note 2.12.1) (1) 4 – Deferred income - government grant on land use rights (1) 7 6 Deferred income (1) 5 7 Deferred rent (1) 24 – 42 24 1,078 978 Financial liabilities included in other liabilities 844 776 Contingent consideration on undiscounted basis 8 14 (1) Accrued expenses primarily relate to cost of technical sub-contractors, telecommunication charges, legal and professional charges, brand building expenses, overseas travel expenses and office maintenance. Others include unpaid dividend balances and capital creditors. |
Provisions
Provisions | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Other Provisions [Abstract] | |
Provisions | 2.6 Provisions Accounting policy A provision is recognized if, as a result of a past event, the Group has a present legal or constructive obligation that is reasonably estimable, and it is probable that an outflow of economic benefits will be required to settle the obligation. Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. a. Post sales client support The group provides its clients with a fixed-period post-sales support for corrections of errors and support on all its fixed-price, fixed-timeframe contracts. Costs associated with such support services are accrued at the time related revenues are recorded and included in cost of sales. The group estimates such costs based on historical experience and estimates are reviewed on a periodic basis for any material changes in assumptions and likelihood of occurrence. b. Provisions for onerous contracts are recognized when the expected benefits to be derived by the Group from a contract are lower than the unavoidable costs of meeting the future obligations under the contract. The provision is measured at the present value of the lower of the expected cost of terminating the contract and the expected net cost of continuing with the contract. Before a provision is established the Group recognizes any impairment loss on the assets associated with that contract. Provisions comprise the following: (Dollars in millions) As of March 31, 2018 March 31, 2017 Provision for post sales client support and other provisions 75 63 75 63 Provision for post sales client support and other provisions represents costs associated with providing sales support services which are accrued at the time of recognition of revenues and are expected to be utilized over a period of 6 months to 1 year. The movement in the provision for post sales client support and other provisions is as follows: (Dollars in millions) Year ended March 31, 2018 Balance at the beginning 63 Translation differences – Provision recognized / (reversed) 22 Provision utilized (10) Balance at the end 75 Provision for post sales client support and other provisions is included in cost of sales in the consolidated statement of comprehensive income. As of March 31, 2018 and March 31, 2017, claims against the Group, not acknowledged as debts, net of amounts paid (excluding demands from income tax authorities- Refer to Note 2.17) amounted to $40 million (₹260 crore) and $46 million (₹301 crore), respectively. |
Property, plant and equipment
Property, plant and equipment | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Property Plant And Equipment [Abstract] | |
Property, plant and equipment | 2.7 Property, plant and equipment Accounting policy Property, plant and equipment are stated at cost, less accumulated depreciation and impairment, if any. Costs directly attributable to acquisition are capitalized until the property, plant and equipment are ready for use, as intended by management. The group depreciates property, plant and equipment over their estimated useful lives using the straight-line method. The estimated useful lives of assets are as follows: Buildings 22 - 25 years Plant and machinery 5 years Computer equipment 3-5 years Furniture and fixtures 5 years Vehicles 5 years Leasehold improvements Over lease term Depreciation methods, useful lives and residual values are reviewed periodically, including at each financial year end. Advances paid towards the acquisition of property, plant and equipment outstanding at each balance sheet date and the cost of assets not ready to use before such date are disclosed under ‘Capital work-in-progress’. Subsequent expenditures relating to property, plant and equipment is capitalized only when it is probable that future economic benefits associated with these will flow to the Group and the cost of the item can be measured reliably. Repairs and maintenance costs are recognized in the statement of comprehensive income when incurred. The cost and related accumulated depreciation are eliminated from the financial statements upon sale or retirement of the asset and the resultant gains or losses are recognized in the statement of comprehensive income. Impairment Property, plant and equipment are evaluated for recoverability whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. For the purpose of impairment testing, the recoverable amount (i.e. the higher of the fair value less cost to sell and the value-in-use) is determined on an individual asset basis unless the asset does not generate cash flows that are largely independent of those from other assets. In such cases, the recoverable amount is determined for the CGU to which the asset belongs. If such assets are considered to be impaired, the impairment to be recognized in the statement of comprehensive income is measured by the amount by which the carrying value of the assets exceeds the estimated recoverable amount of the asset. An impairment loss is reversed in the statement of comprehensive income if there has been a change in the estimates used to determine the recoverable amount. The carrying amount of the asset is increased to its revised recoverable amount, provided that this amount does not exceed the carrying amount that would have been determined (net of any accumulated depreciation) had no impairment loss been recognized for the asset in prior years. Following are the changes in the carrying value of property, plant and equipment for the year ended March 31, 2018: (Dollars in millions) Land Buildings Plant and machinery Computer equipment Furniture and fixtures Vehicles Total Gross carrying value as of April 1, 2017 272 1,123 466 700 261 5 2,827 Additions 21 122 56 73 29 1 302 Deletions – – (3) (17) (3) (1) (24) Reclassified under held for sale (refer note 2.9) – – – (6) (4) – (10) Translation difference (1) 2 (1) (1) 2 – 1 Gross carrying value as of March 31, 2018 292 1,247 518 749 285 5 3,096 Accumulated depreciation as of April 1, 2017 (4) (376) (301) (471) (168) (3) (1,323) Depreciation (1) (43) (62) (107) (40) (1) (254) Accumulated depreciation on deletions – – 2 17 3 1 23 Reclassified under held for sale (refer note 2.9) – – – 4 3 – 7 Translation difference – 2 2 – (1) – 3 Accumulated depreciation as of March 31, 2018 (5) (417) (359) (557) (203) (3) (1,544) Capital work-in-progress as of March 31, 2018 311 Carrying value as of March 31, 2018 287 830 159 192 82 2 1,863 Capital work-in-progress as of April 1, 2017 303 Carrying value as of April 1, 2017 268 747 165 229 93 2 1,807 Following are the changes in the carrying value of property, plant and equipment for the year ended March 31, 2017: (Dollars in millions) Land Buildings Plant and machinery Computer equipment Furniture and fixtures Vehicles Total Gross carrying value as of April 1, 2016 244 955 392 615 218 4 2,428 Additions 22 147 73 120 57 1 420 Deletions – – (8) (47) (17) (1) (73) Translation difference 6 21 9 12 3 1 52 Gross carrying value as of March 31, 2017 272 1,123 466 700 261 5 2,827 Accumulated depreciation as of April 1, 2016 (3) (332) (243) (395) (149) (3) (1,125) Depreciation (1) (35) (57) (101) (31) (1) (226) Accumulated depreciation on deletions – – 5 34 14 1 54 Translation difference – (9) (6) (9) (2) – (26) Accumulated depreciation as of March 31, 2017 (4) (376) (301) (471) (168) (3) (1,323) Capital work-in-progress as of March 31, 2017 303 Carrying value as of March 31, 2017 268 747 165 229 93 2 1,807 Capital work-in-progress as of April 1, 2016 286 Carrying value as of April 1, 2016 241 623 149 220 69 1 1,589 Following are the changes in the carrying value of property, plant and equipment for the year ended March 31, 2016: (Dollars in millions) Land Buildings Plant and machinery Computer equipment Furniture and fixtures Vehicles Total Gross carrying value as of April 1, 2015 250 940 337 535 189 6 2,257 Additions 9 68 76 168 40 1 362 Deletions – – (1) (60) (1) (2) (64) Translation difference (15) (53) (20) (28) (10) (1) (127) Gross carrying value as of March 31, 2016 244 955 392 615 218 4 2,428 Accumulated depreciation as of April 1, 2015 (3) (317) (207) (365) (132) (3) (1,027) Depreciation (1) (33) (49) (84) (24) (1) (192) Accumulated depreciation on deletions – – 1 36 1 1 39 Translation difference 1 18 12 18 6 – 55 Accumulated depreciation as of March 31, 2016 (3) (332) (243) (395) (149) (3) (1,125) Capital work-in-progress as of March 31, 2016 286 Carrying value as of March 31, 2016 241 623 149 220 69 1 1,589 Capital work-in-progress as of April 1, 2015 230 Carrying value as of April 1, 2015 247 623 130 170 57 3 1,460 The aggregate depreciation expense is included in cost of sales in the statement of comprehensive income. Carrying value of land includes $98 million and $99 million as of March 31, 2018 and March 31, 2017, respectively, towards amounts paid under certain lease-cum-sale agreements to acquire land, including agreements where the company has an option to either purchase the properties or renew the lease on expiry of the lease period. The contractual commitments for capital expenditure were $223 million and $177 million as of March 31, 2018 and March 31, 2017, respectively. |
Goodwill and Intangible Assets
Goodwill and Intangible Assets | 12 Months Ended |
Mar. 31, 2018 | |
Intangible Assets And Goodwill [Abstract] | |
Goodwill and Intangible Assets | 2.8 Goodwill and intangible assets 2.8.1 Goodwill Accounting policy Goodwill represents the cost of business acquisition in excess of the Group's interest in the net fair value of identifiable assets, liabilities and contingent liabilities of the acquiree. When the net fair value of the identifiable assets, liabilities and contingent liabilities acquired exceeds the cost of business acquisition, a gain is recognized immediately in the statement of comprehensive income. Goodwill is measured at cost less accumulated impairment losses. Impairment Goodwill is tested for impairment on an annual basis and whenever there is an indication that goodwill may be impaired, relying on a number of factors including operating results, business plans and future cash flows. For the purpose of impairment testing, goodwill acquired in a business combination is allocated to the Group's cash generating units (CGU) or groups of CGU’s expected to benefit from the synergies arising from the business combination. A CGU is the smallest identifiable group of assets that generates cash inflows that are largely independent of the cash inflows from other assets or group of assets. Impairment occurs when the carrying amount of a CGU including the goodwill, exceeds the estimated recoverable amount of the CGU. The recoverable amount of a CGU is the higher of its fair value less cost to sell and its value-in-use. Value-in-use is the present value of future cash flows expected to be derived from the CGU. Total impairment loss of a CGU is allocated first to reduce the carrying amount of goodwill allocated to the CGU and then to the other assets of the CGU pro-rata on the basis of the carrying amount of each asset in the CGU. An impairment loss on goodwill is recognized in the statement of comprehensive income and is not reversed in the subsequent period. Following is a summary of changes in the carrying amount of goodwill: (Dollars in millions) As of March 31, 2018 March 31, 2017 Carrying value at the beginning 563 568 Goodwill on Brilliant Basics acquisition (Refer to note 2.9) 5 – Goodwill reclassified under assets held for sale (Refer note no 2.9) (247) – Translation differences 18 (5) Carrying value at the end 339 563 For the purpose of impairment testing, goodwill acquired in a business combination is allocated to the cash generating units (CGU) or groups of CGUs, which are benefited from the synergies of the acquisition. The Chief Operating Decision Maker reviews the goodwill for any impairment at the operating segment level, which is represented through groups of CGUs. The following table presents the allocation of goodwill to operating segments: (Dollars in millions) Segments As of March 31, 2018 2017 Financial services 73 127 Manufacturing 39 63 Retail, Consumer packaged goods and Logistics 48 86 Life Sciences, Healthcare and Insurance 68 98 Energy & utilities, Communication and Services 72 118 300 492 Operating segments without significant goodwill 39 71 Total 339 563 The recoverable amount of a CGU is the higher of its fair value less cost to sell and its value-in-use. The fair value of a CGU is determined based on the market capitalization. The value-in-use is determined based on specific calculations. These calculations use pre-tax cash flow projections over a period of five years. A range of each assumption used is mentioned below. As at March 31, 2018 and March 31, 2017, the estimated recoverable amount of the CGU exceeded its carrying amount. The key assumptions used for the calculations are as follows: As at March 31, 2018 2017 Long term growth rate (%) 8-10 8-10 Operating margins (%) 17-20 17-20 Discount rate (%) 13.5 14.4 The management believes that any reasonable possible changes in the key assumptions would not cause the carrying amount to exceed the recoverable amount of the cash generating unit. 2.8.2 Intangible assets Accounting policy Intangible assets are stated at cost less accumulated amortization and impairment. Intangible assets are amortized over their respective individual estimated useful lives on a straight-line basis, from the date that they are available for use. The estimated useful life of an identifiable intangible asset is based on a number of factors including the effects of obsolescence, demand, competition, and other economic factors (such as the stability of the industry, and known technological advances. Amortization methods and useful lives are reviewed periodically including at each financial year end. Research costs are expensed as incurred. Software product development costs are expensed as incurred unless technical and commercial feasibility of the project is demonstrated, future economic benefits are probable, the Company has an intention and ability to complete and use or sell the software and the costs can be measured reliably. The costs which can be capitalized include the cost of material, direct labour, overhead costs that are directly attributable to preparing the asset for its intended use. Impairment Intangible assets are evaluated for recoverability whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. For the purpose of impairment testing, the recoverable amount (i.e. the higher of the fair value less cost to sell and the value-in-use) is determined on an individual asset basis unless the asset does not generate cash flows that are largely independent of those from other assets. In such cases, the recoverable amount is determined for the CGU to which the asset belongs. If such assets are considered to be impaired, the impairment to be recognized in the statement of comprehensive income is measured by the amount by which the carrying value of the assets exceeds the estimated recoverable amount of the asset. An impairment loss is reversed in the statement of comprehensive income if there has been a change in the estimates used to determine the recoverable amount. The carrying amount of the asset is increased to its revised recoverable amount, provided that this amount does not exceed the carrying amount that would have been determined (net of any accumulated amortization) had no impairment loss been recognized for the asset in prior years. Following are the changes in the carrying value of acquired intangible assets for the year ended March 31, 2018: (Dollars in millions) Customer related Software related Sub-contracting right related Intellectual property rights related Land use rights related Marketing related Others Total Gross carrying value as of April 1, 2017 116 62 3 – 10 14 10 215 Addition through business combination (refer note no. 2.9) 2 – – – – – – 2 Deletion/ retirals (27) – (3) – – (4) (5) (39) Reclassified under assets held for sale (Refer note no. 2.9) (24) (60) – – – (6) – (90) Translation differences 1 1 – – 1 – (1) 2 Gross carrying value as of March 31, 2018 68 3 – – 11 4 4 90 Accumulated amortization as of April 1, 2017 (59) (19) (3) – (1) (7) (6) (95) Amortization expense (20) (12) – – – (2) (1) (35) Deletion/ retirals 27 – 3 – – 4 5 39 Reclassified under assets held for sale (Refer note no. 2.9) 9 28 – – – 3 – 40 Translation differences (1) – – – – – – (1) Accumulated amortization as of March 31, 2018 (44) (3) – – (1) (2) (2) (52) Carrying value as of March 31, 2018 24 – – – 10 2 2 38 Carrying value as of April 1, 2017 57 43 – – 9 7 4 120 Estimated Useful Life (in years) 2-10 – – – 50 5 5 Estimated Remaining Useful Life (in years) 1-5 – – – 43 3 3 Following are the changes in the carrying value of acquired intangible assets for the year ended March 31, 2017: (Dollars in millions) Customer related Software related Sub-contracting right related Intellectual property rights related Land use rights related Marketing related Others Total Gross carrying value as of April 1, 2016 117 62 3 – 11 14 10 217 Deletion – – – – – – – – Translation differences (1) – – – (1) – – (2) Gross carrying value as of March 31, 2017 116 62 3 – 10 14 10 215 Accumulated amortization as of April 1, 2016 (46) (9) (3) – (1) (5) (4) (68) Amortization expense (14) (9) – – – (2) (3) (28) Deletion – – – – – – – – Translation differences 1 (1) – – – – 1 1 Accumulated amortization as of March 31, 2017 (59) (19) (3) – (1) (7) (6) (95) Carrying value as of March 31, 2017 57 43 – – 9 7 4 120 Carrying value as of April 1, 2016 71 53 – – 10 9 6 149 Estimated Useful Life (in years) 3-10 5-8 – – 50 3-10 3-5 Estimated Remaining Useful Life (in years) 1-6 3-6 – – 44 1 -8 1-4 During the year ended March 31, 2017, the management based on an internal evaluation reassessed the remaining useful life of certain software technology assets acquired as a part of business combinations. Accordingly, the remaining useful life of the said asset which was 8 years has been revised to 3 years. Amortization expense for the year ended March 31, 2017 is higher by $3 million due to the revision. Following are the changes in the carrying value of acquired intangible assets for the year ended March 31, 2016: (Dollars in millions) Customer related Software related Sub-contracting right related Intellectual property rights related Land use rights related Marketing related Others Total Gross carrying value as of April 1, 2015 72 42 3 2 11 8 5 143 Additions through business combinations (Refer to note 2.9) 45 21 – – – 6 4 76 Deletion – – – (2) – – – (2) Translation differences – (1) – – – – 1 – Gross carrying value as of March 31, 2016 117 62 3 – 11 14 10 217 Accumulated amortization as of April 1, 2015 (26) (3) (3) (2) (1) (5) (1) (41) Amortization expense (20) (6) – – – (1) (3) (30) Deletion – – – 2 – – – 2 Translation differences – – – – – 1 – 1 Accumulated amortization as of March 31, 2016 (46) (9) (3) – (1) (5) (4) (68) Carrying value as of March 31, 2016 71 53 – – 10 9 6 149 Carrying value as of April 1, 2015 46 39 – – 10 3 4 102 Estimated Useful Life (in years) 3–10 8–10 – – 50 3–10 3–5 Estimated Remaining Useful Life (in years) 1–7 7–9 – – 45 2–9 2–5 The aggregate amortization expense is included in cost of sales in the consolidated statement of comprehensive income. Research and development expense recognized in the consolidated statement of comprehensive income, for the years ended March 31, 2018, 2017 and 2016 were $116 million, $118 million and $108 million, respectively. |
Business Combinations and Dispo
Business Combinations and Disposal Group Held for Sale | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Business Combinations [Abstract] | |
Business combinations and Disposal group held for sale | 2.9 Business combinations and Disposal group held for sale a. Business combinations Accounting Policy: Business combinations have been accounted for using the acquisition method under the provisions of IFRS 3 (Revised), Business Combinations. The cost of an acquisition is measured at the fair value of the assets transferred, equity instruments issued and liabilities incurred or assumed at the date of acquisition, which is the date on which control is transferred to the Group. The cost of acquisition also includes the fair value of any contingent consideration. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair value on the date of acquisition. Business combinations between entities under common control is outside the scope of IFRS 3 (Revised), Business Combinations and is accounted for at carrying value. Transaction costs that the Group incurs in connection with a business combination such as finders’ fees, legal fees, due diligence fees, and other professional and consulting fees are expensed as incurred. Kallidus Inc. (d.b.a Skava) On June 2, 2015, Infosys acquired 100% of the voting interests in Kallidus Inc., US, a provider of digital experience solutions, including mobile commerce and in-store shopping experiences to large retail clients and 100% of the voting interests of Skava Systems Private Limited, an affiliate of Kallidus. The business acquisition was conducted by entering into a share purchase agreement for cash consideration of $91 million and a contingent consideration of up to $20 million. The excess of the purchase consideration paid over the fair value of net assets acquired has been attributed to goodwill. The purchase price has been allocated based on management’s estimates and independent appraisal of fair values as follows: (Dollars in millions) Component Acquiree's carrying amount Fair value adjustments Purchase price allocated Net Assets* 6 – 6 Intangible assets – technology – 21 21 Intangible assets – trade name – 2 2 Intangible assets – customer contracts and relationships – 27 27 Deferred tax liabilities on intangible assets – (20) (20) 6 30 36 Goodwill 71 Total purchase price 107 * Includes cash and cash equivalents acquired of $4 million. The goodwill is not tax deductible. The gross amount of trade receivables acquired and its fair value is $9 million and the amounts have been fully collected. The acquisition date fair value of each major class of consideration as of the acquisition date is as follows: (Dollars in millions) Component Consideration settled Cash Paid 91 Fair value of contingent consideration 16 Total purchase price 107 The transaction costs of $2 million related to the acquisition have been included under administrative expenses in the statement of comprehensive income for the year ended March 31, 2016. Noah Consulting LLC On November 16, 2015, Infosys has acquired 100% membership interest in Noah Consulting, LLC, a provider of advanced information management consulting services for the oil and gas industry. The business acquisition was conducted by entering into a share purchase agreement for cash consideration of $33 million, a contingent consideration of up to $5 million and an additional consideration of up to $32 million, referred to as retention bonus payable to the employees of Noah at each anniversary year following the acquisition date for the next three years, subject to their continuous employment with the group at each anniversary. The retention bonus is treated as a post ‑ The purchase price has been allocated based on management’s estimates and independent appraisal of fair values as follows: (Dollars in millions) Component Acquiree's carrying amount Fair value adjustments Purchase price allocated Net Assets* 6 – 6 Intangible assets – technical know-how – 4 4 Intangible assets – trade name – 4 4 Intangible assets – customer contracts and relationships – 18 18 6 26 32 Goodwill 5 Total purchase price 37 * Includes cash and cash equivalents acquired of $3 million. Goodwill of $1 million is tax deductible. The gross amount of trade receivables acquired and its fair value is $4 million and the amounts have been fully collected. The acquisition date fair value of each major class of consideration as of the acquisition date is as follows: (Dollars in millions) Component Consideration settled Cash Paid 33 Fair value of contingent consideration 4 Total purchase price 37 During fiscal 2016, based on an assessment of Noah achieving the targets, the entire contingent consideration has been reversed in the statement of comprehensive income. The transaction costs of $2 million related to the acquisition have been included under administrative expenses in the statement of comprehensive income for the year ended March 31, 2016. Business Transfer On July 14, 2017, the Board of Directors of Infosys authorized the Company to execute a Business Transfer Agreement and related documents with Noah Consulting LLC, a wholly owned subsidiary, to transfer the business of Noah Consulting LLC to Infosys Limited, subject to securing the requisite regulatory approvals for a consideration based on an independent valuation. Subsequently on October 17, 2017, the company entered into a business transfer agreement to transfer the business for a consideration of $41 million (approximately ₹ EdgeVerve Systems Limited EdgeVerve was created as a wholly owned subsidiary to focus on developing and selling products and platforms. On April 15, 2014, the Board of Directors of Infosys authorized the Company to execute a Business Transfer Agreement and related documents with EdgeVerve, subject to securing the requisite approval from shareholders in the Annual General Meeting. Subsequently, at the AGM held on June 14, 2014, the shareholders authorized the Board to enter into a Business Transfer Agreement and related documents with EdgeVerve, with effect from July 1, 2014 or such other date as may be decided by the Board of Directors. The company had undertaken an enterprise valuation by an independent valuer and accordingly the business was transferred for a consideration of $70 million (₹421 crore) with effect from July 1, 2014 which was settled through the issue of fully paid up equity shares. The transfer of assets and liabilities is accounted for at carrying values and does not have any impact on the consolidated financial statements. Finacle and Edge Services On April 24, 2015, the Board of Directors of Infosys authorized the Company to execute a Business Transfer Agreement and related documents with EdgeVerve, a wholly owned subsidiary, to transfer the business of Finacle and Edge Services. Post the requisite approval from shareholders through postal ballot on June 4, 2015, a Business Transfer Agreement and other related documents were executed with EdgeVerve to transfer the business with effect from August 1, 2015. The company had undertaken an enterprise valuation by an independent valuer and accordingly the business was transferred for a consideration of ₹3,222 crore (approximately $491 million) and ₹177 crore (approximately $27 million) for Finacle and Edge Services, respectively. The consideration was settled through issue of 850,000,000 equity shares amounting to ₹850 crore (approximately $129 million) and 254,900,000 non-convertible redeemable debentures amounting to ₹2,549 crore (approximately $389 million) in EdgeVerve, post the requisite approval from shareholders on December 11, 2015. During the year ended March 31, 2018, EdgeVerve has repaid ₹349 crore (approximately $54 million) by redeeming proportionate number of debentures. The transfer of assets and liabilities was accounted for at carrying values and did not have any impact on the consolidated financial statements. Brilliant Basics Holdings Limited: On September 8, 2017, Infosys acquired 100% of the voting interests in Brilliant Basics Holdings Limited., UK, (Brilliant Basics) a product design and customer experience innovator with experience in executing global programs. The business acquisition was conducted by entering into a share purchase agreement for cash consideration of $4 million, contingent consideration of up to $3 million and an additional consideration of $2 million, referred to as retention bonus, payable to the employees of Brilliant Basics at each anniversary year over the next two years, subject to their continuous employment with the group at each anniversary. The payment of contingent consideration to sellers of Brilliant Basics is dependent upon the achievement of certain financial targets by Brilliant Basics over a period of 3 years ending on March, 2020. The fair value of contingent consideration is determined by discounting the estimated amount payable to the sellers of Brilliant Basics on achievement of certain financial targets. The key inputs used in determination of the fair value of contingent consideration are the discount rate of 10% and the probabilities of achievement of the financial targets. The excess of the purchase consideration paid over the fair value of assets acquired has been attributed to goodwill. The purchase price has been allocated based on management’s estimates and independent appraisal of fair values as follows: (Dollars in millions) Component Acquiree's carrying amount Fair value adjustments Purchase price allocated Net assets (*) – – – Intangible assets - customer relationships – 2 2 Deferred tax liabilities on intangible assets – – – – 2 2 Goodwill 5 Total purchase price 7 * Includes cash and cash equivalents acquired of less than $1 million The goodwill is not tax deductible. The gross amount of trade receivables acquired and its fair value is less than $1 million and the amounts have been largely collected. The acquisition date fair value of each major class of consideration as of the acquisition date is as follows: (Dollars in millions) Component Consideration settled Cash paid 4 Fair value of contingent consideration 3 Total purchase price 7 The transaction costs of less than $1 million related to the acquisition have been included under administrative expenses in the statement of comprehensive income. Acquisition On May 22, 2018, Infosys acquired 100% of the voting interests in WongDoody Holding Company Inc., (WongDoody) a U.S.-based, full-service creative and consumer insights agency. WongDoody brings to Infosys the creative talent, marketing and brand engagement expertise. Further the acquisition is expected to strengthen Infosys’ creative, branding and customer experience capabilities. The business acquisition was completed on May 22, 2018 for a purchase consideration was $51 million (comprising of cash of $38 million and contingent consideration of $13 million). The purchase consideration was allocated to net tangible assets of $5 million, customer contracts and relationships of $20 million, tradename of $1 million resulting in a goodwill of $25 million. Goodwill is tax deductible. Additionally a consideration of up to $9 million of retention bonus is payable to the employees of WongDoody over the next three years, subject to their continuous employment with the group. b. Disposal group held for sale Accounting policy Non-current assets and disposal groups are classified as held for sale if their carrying amount is intended to be recovered principally through sale rather than through continuing use. The condition for classification of held for sale is met when the non-current asset or the disposal group is available for immediate sale and the same is highly probable of being completed within one year from the date of classification as held for sale. Non-current assets and disposal groups held for sale are measured at the lower of carrying amount and fair value less cost to sell. In estimating the fair value, material events and developments, including progress on negotiations subsequent to Balance Sheet date, have been considered. In March 2018, on conclusion of a strategic review of the portfolio businesses, the Company initiated identification and evaluation of potential buyers for its subsidiaries, Kallidus and Skava (together referred to as "Skava”) and Panaya (collectively referred to as the “disposal group”). The Company anticipates completion of the sale by March 2019 and accordingly, assets amounting to $316 million and liabilities amounting to $50 million in respect of the disposal group have been reclassified under “held for sale". On reclassification, the disposal group has been measured at the lower of carrying amount and fair value less cost to sell and consequently, a reduction in the fair value of Disposal Group held for sale amounting to $18 million in respect of Panaya has been recognized under other income in the consolidated statement of comprehensive income for the year ended March 31, 2018. The disposal group does not constitute a separate major component of the company and therefore has not been classified as discontinued operations. |
Revenue from Operations
Revenue from Operations | 12 Months Ended |
Mar. 31, 2018 | |
Revenue [Abstract] | |
Revenue from Operations | 2.10 Revenue from operations Accounting policy The Group derives revenues primarily from software development and related services and from the licensing of software products. Arrangements with customers for software related services are mainly either on a fixed-price, fixed-timeframe or on a time-and-material basis. Revenue on time-and-material contracts are recognized as the related services are performed and revenue from the end of the last billing to the balance sheet date is recognized as unbilled revenues. Revenue from fixed-price, fixed-timeframe contracts, where there is no uncertainty as to measurement or collectability of consideration, is recognized as per the percentage-of-completion method. When there is uncertainty as to measurement or ultimate collectability, revenue recognition is postponed until such uncertainty is resolved. Efforts or costs expended have been used to measure progress towards completion as there is a direct relationship between input and productivity. Provisions for estimated losses, if any, on uncompleted contracts are recorded in the period in which such losses become probable based on the current contract estimates. Costs and earnings in excess of billings are classified as unbilled revenue while billings in excess of costs and earnings are classified as unearned revenue. Deferred contract costs are amortized over the term of the contract. Maintenance revenue is recognized ratably over the term of the underlying maintenance arrangement. In arrangements for software development and related services and maintenance services, the Group has applied the guidance in IAS 18, Revenue, by applying the revenue recognition criteria for each separately identifiable component of a single transaction. The arrangements generally meet the criteria for considering software development and related services as separately identifiable components. For allocating the consideration, the Group has measured the revenue in respect of each separable component of a transaction at its fair value, in accordance with principles given in IAS 18. The price that is regularly charged for an item when sold separately is the best evidence of its fair value. In cases where the Group is unable to establish objective and reliable evidence of fair value for the software development and related services, the Group has used a residual method to allocate the arrangement consideration. In these cases, the balance of the consideration, after allocating the fair values of undelivered components of a transaction has been allocated to the delivered components for which specific fair values do not exist. License fee revenues are recognized when the general revenue recognition criteria given in IAS 18 are met. Arrangements to deliver software products generally have three elements: license, implementation and Annual Technical Services (ATS). The Group has applied the principles given in IAS 18 to account for revenues from these multiple element arrangements. Objective and reliable evidence of fair value has been established for ATS. Objective and reliable evidence of fair value is the price charged when the element is sold separately. When other services are provided in conjunction with the licensing arrangement and objective and reliable evidence of their fair values have been established, the revenue from such contracts are allocated to each component of the contract in a manner, whereby revenue is deferred for the undelivered services and the residual amounts are recognized as revenue for delivered elements. In the absence of objective and reliable evidence of fair value for implementation, the entire arrangement fee for license and implementation is recognized using the percentage-of-completion method as the implementation is performed. Revenue from client training, support and other services arising due to the sale of software products is recognized as the services are performed. ATS revenue is recognized rateably over the period in which the services are rendered. Advances received for services and products are reported as client deposits until all conditions for revenue recognition are met. The Group accounts for volume discounts and pricing incentives to customers as a reduction of revenue based on the ratable allocation of the discounts/ incentives amount to each of the underlying revenue transaction that results in progress by the customer towards earning the discount/ incentive. Also, when the level of discount varies with increases in levels of revenue transactions, the Group recognizes the liability based on its estimate of the customer's future purchases. If it is probable that the criteria for the discount will not be met, or if the amount thereof cannot be estimated reliably, then discount is not recognized until the payment is probable and the amount can be estimated reliably. The Group recognizes changes in the estimated amount of obligations for discounts in the period in which the change occurs. The discounts are passed on to the customer either as direct payments or as a reduction of payments due from the customer. The Group presents revenues net of indirect taxes in its statement of comprehensive income. Revenues for fiscal 2018, 2017 and 2016 are as follows: (Dollars in millions) Particulars Year ended March 31, 2018 2017 2016 Revenue from software services 10,619 9,895 9,210 Revenue from software products 320 313 291 10,939 10,208 9,501 |
Expenses by Nature
Expenses by Nature | 12 Months Ended |
Mar. 31, 2018 | |
Expense By Nature [Abstract] | |
Expenses by Nature | 2.11 Expenses by nature (Dollars in millions) Year ended March 31, 2018 2017 2016 Employee benefit costs 6,034 5,612 5,236 Deferred purchase price pertaining to acquisition* – – 23 Depreciation and amortization charges (Refer to Note 2.7 and 2.8) 289 254 222 Travelling costs 310 333 345 Cost of technical sub-contractors 666 571 537 Cost of software packages for own use 138 118 113 Third party items bought for service delivery to clients 152 120 81 Operating lease payments (Refer to Note 2.15) 82 73 55 Consultancy and professional charges 162 114 118 Communication costs 76 82 68 Repairs and maintenance 174 191 160 Rates and Taxes 25 22 17 Provision for post-sales client support 22 12 1 Power and fuel 32 34 33 Commission to non-whole time directors 1 2 1 Branding and marketing expenses 47 51 44 Impairment loss recognized/(reversed) on financial assets 11 21 (7) Insurance charges 9 8 9 Contribution towards Corporate Social Responsibility 24 34 33 Others 26 36 37 Total cost of sales, selling and marketing expenses and administrative expenses 8,280 7,688 7,126 * Pertaining to Infosys Consulting acquisition Operating profit Operating profit for the Group is computed considering the revenues, net of cost of sales, selling and marketing expenses and administrative expenses. |
Employee Benefits
Employee Benefits | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Defined Benefit Plans [Abstract] | |
Employee benefits | 2.12 Employee benefits Accounting policy Gratuity The Group provides for gratuity, a defined benefit retirement plan ('the Gratuity Plan') covering eligible employees of Infosys and its Indian subsidiaries. The Gratuity Plan provides a lump-sum payment to vested employees at retirement, death, incapacitation or termination of employment, of an amount based on the respective employee's salary and the tenure of employment with the Group. Liabilities with regard to the Gratuity Plan are determined by actuarial valuation, performed by an independent actuary, at each balance sheet date using the projected unit credit method. The Company fully contributes all ascertained liabilities to the Infosys Limited Employees' Gratuity Fund Trust (the Trust). In case of Infosys BPM and EdgeVerve, contributions are made to the Infosys BPM Limited Employees' Gratuity Fund Trust and EdgeVerve Systems Limited Employees' Gratuity Fund Trust, respectively. Trustees administer contributions made to the Trusts and contributions are invested in a scheme with Life Insurance Corporation of India as permitted by Indian law. The Group recognizes the net obligation of a defined benefit plan in its balance sheet as an asset or liability. Gains and losses through re-measurements of the net defined benefit liability / asset are recognized in other comprehensive income and not reclassified to profit or loss in subsequent period. The actual return of the portfolio of plan assets, in excess of the yields computed by applying the discount rate used to measure the defined benefit obligation is recognized in other comprehensive income. The effect of any plan amendments are recognized in net profits in the statement of comprehensive income. Provident fund Eligible employees of Infosys receive benefits from a provident fund, which is a defined benefit plan. Both the eligible employee and the company make monthly contributions to the provident fund plan equal to a specified percentage of the covered employee's salary. The company contributes a portion of the contributions to the Infosys Limited Employees' Provident Fund Trust. The trust invests in specific designated instruments as permitted by Indian law. The remaining portion is contributed to the government administered pension fund. The rate at which the annual interest is payable to the beneficiaries by the trust is being administered by the government. The company has an obligation to make good the shortfall, if any, between the return from the investments of the Trust and the notified interest rate. In respect of Indian subsidiaries, eligible employees receive benefits from a provident fund, which is a defined contribution plan. Both the eligible employee and the respective companies make monthly contributions to this provident fund plan equal to a specified percentage of the covered employee's salary. Amounts collected under the provident fund plan are deposited in a government administered provident fund. The companies have no further obligation to the plan beyond their monthly contributions. Superannuation Certain employees of Infosys, Infosys BPM and EdgeVerve are participants in a defined contribution plan. The Group has no further obligations to the Plan beyond its monthly contributions which are periodically contributed to a trust fund, the corpus of which is invested with the Life Insurance Corporation of India. Compensated absences The Group has a policy on compensated absences which are both accumulating and non-accumulating in nature. The expected cost of accumulating compensated absences is determined by actuarial valuation performed by an independent actuary at each balance sheet date using projected unit credit method on the additional amount expected to be paid/availed as a result of the unused entitlement that has accumulated at the balance sheet date. Expense on non-accumulating compensated absences is recognized in the period in which the absences occur. 2.12.1 Gratuity The following tables set out the funded status of the gratuity plans and the amounts recognized in the Group’s financial statements as of March 31, 2018 and March 31, 2017: (Dollars in millions) As of March 31, 2018 March 31, 2017 Change in benefit obligations Benefit obligations at the beginning 172 142 Service cost 23 19 Interest expense 11 10 Remeasurements - Actuarial losses / (gains) (9) 10 Transfer 4 – Curtailment gain – – Benefits paid (17) (13) Translation differences – 4 Benefit obligations at the end 184 172 Change in plan assets Fair value of plan assets at the beginning 184 143 Interest Income 12 12 Remeasurements – Returns on plan assets excluding amounts included in interest income 2 2 Contributions 5 37 Benefits paid (17) (13) Translation differences 1 3 Fair value of plan assets at the end 187 184 Funded status 3 12 Prepaid gratuity benefit 7 12 Accrued gratuity (4) – Net gratuity cost for the year ended March 31, 2018, 2017 and 2016 comprises the following components: (Dollars in millions) Year ended March 31, 2018 2017 2016 Service cost 23 19 18 Net interest on the net defined benefit liability / asset (1) (2) (1) Net gratuity cost 22 17 17 Amount for the fiscal 2018, 2017 and 2016 recognized in statement of other comprehensive income: (Dollars in millions) Year ended March 31, 2018 2017 2016 Re-measurements of the net defined benefit liability / asset Actuarial (gains) / losses (9) 10 3 (Return) / loss on plan assets excluding amounts included in the net interest on the net defined benefit liability / asset (2) (2) (1) Total (11) 8 2 (Dollars in millions) Year ended March 31, 2018 2017 2016 (Gain) / loss from change in demographic assumptions – – – (Gain) / loss from change in financial assumptions (6) 8 – (Gain) / loss from change in experience adjustments (3) 2 3 (9) 10 3 The gratuity cost recognized in the statement of comprehensive income apportioned between cost of sales, selling and marketing expenses and administrative expenses on the basis of direct employee cost is as follows: (Dollars in millions) Year ended March 31, 2018 2017 2016 Cost of sales 20 15 15 Selling and marketing expenses 1 1 1 Administrative expenses 1 1 1 22 17 17 The weighted-average assumptions used to determine benefit obligations as of March 31, 2018 and March 31, 2017 are set out below: As of March 31, 2018 March 31, 2017 Discount rate 7.5% 6.9% Weighted average rate of increase in compensation levels 8.0% 8.0% The weighted-average assumptions used to determine net periodic benefit cost for the year ended March 31, 2018, 2017 and 2016 are set out below: Year ended March 31, 2018 2017 2016 Discount rate for the year 6.9% 7.8% 7.8% Weighted average rate of increase in compensation levels 8.0% 8.0% 8.0% Weighted average duration of defined benefit obligation 6.1 years 6.1 years 6.4 years Discount rate In India, the market for high quality corporate bonds being not developed, the yield of government bonds is considered as the discount rate. The tenure has been considered taking into account the past long-term trend of employees’ average remaining service life which reflects the average estimated term of the post- employment benefit obligations. Weighted average rate of increase in compensation levels The average rate of increase in compensation levels is determined by the Company, considering factors such as, the Company’s past compensation revision trends and management’s estimate of future salary increases. Attrition rate Attrition rate considered is the management’s estimate based on the past long-term trend of employee turnover in the Company. Gratuity is applicable only to employees drawing a salary in Indian rupees and there are no other significant foreign defined benefit gratuity plans. The company contributes all ascertained liabilities towards gratuity to the Infosys Employees' Gratuity Fund Trust. In case of Infosys BPM and EdgeVerve, contributions are made to the Infosys BPM Employees' Gratuity Fund Trust and EdgeVerve Systems Limited Gratuity Fund Trust, respectively. Trustees administer contributions made to the trusts. As of March 31, 2018 and March 31, 2017, the plan assets have been primarily invested in insurer managed funds. Actual return on assets for the year ended March 31, 2018, 2017 and 2016 was $14 million, $14 million and $11 million, respectively. Sensitivity of significant assumptions used for valuation of defined benefit obligation: (Dollars in millions) Impact from one percentage point increase / decrease in As at March 31, 2018 Discount rate 9 Weighted average rate of increase in compensation levels 8 Sensitivity for significant actuarial assumptions is computed by varying one actuarial assumption used for the valuation of the defined benefit obligation by one percentage, keeping all other actuarial assumptions constant. Assumptions regarding future mortality experience are set in accordance with the published statistics by the Life Insurance Corporation of India. The Group expects to contribute $20 million to the gratuity trusts during fiscal 2019. Maturity profile of defined benefit obligation: (Dollars in millions) Within 1 year 27 1 - 2 year 27 2 - 3 year 29 3 - 4 year 31 4 - 5 year 33 5 - 10 years 157 2.12.2 Superannuation The Group contributed $27 million, $25 million and $36 million to the superannuation plan during the year ended March 31, 2018, 2017 and 2016, respectively. Superannuation contributions have been apportioned between cost of sales, selling and marketing expenses and administrative expenses on the basis of direct employee cost as follows: (Dollars in millions) Year ended March 31, 2018 2017 2016 Cost of sales 24 22 32 Selling and marketing expenses 2 2 3 Administrative expenses 1 1 1 27 25 36 2.12.3 Provident fund Infosys has an obligation to fund any shortfall on the yield of the trust’s investments over the administered interest rates on an annual basis. These administered rates are determined annually predominantly considering the social rather than economic factors and in most cases the actual return earned by the company has been higher in the past years. The actuary has provided a valuation for provident fund liabilities on the basis of guidance issued by Actuarial Society of India and based on the below provided assumptions there is no shortfall as at March 31, 2018 and March 31, 2017, respectively. The details of fund and plan asset position are given below: (Dollars in millions) As of March 31, 2018 March 31, 2017 Plan assets at period end, at fair value 792 688 Present value of benefit obligation at period end 792 688 Asset recognized in balance sheet – – The plan assets have been primarily invested in government securities. Assumptions used in determining the present value obligation of the interest rate guarantee under the Deterministic Approach: As of March 31, 2018 March 31, 2017 Government of India (GOI) bond yield 7.5% 6.9% Remaining term to maturity of portfolio 5.9 years 6 years Expected guaranteed interest rate 8.6% 8.6% The Group contributed $75 million, $69 million and $63 million to the provident fund during the year ended March 31, 2018, 2017 and 2016, respectively. Provident fund contributions have been apportioned between cost of sales, selling and marketing expenses and administrative expenses on the basis of direct employee cost as follows: (Dollars in millions) Year ended March 31, 2018 2017 2016 Cost of sales 67 61 56 Selling and marketing expenses 5 5 5 Administrative expenses 3 3 2 75 69 63 2.12.4 Employee benefit costs include: (Dollars in millions) Year ended March 31, 2018 2017 2016 Salaries and bonus (1) (2) 5,910 5,501 5,120 Defined contribution plans 40 37 46 Defined benefit plans 84 74 70 6,034 5,612 5,236 (1) Includes stock compensation expense of $13 million, $17 million and $1 million for the year ended March 31, 2018, 2017 and 2016 respectively (2) Included in the above is a reversal of stock compensation cost of $5 million for the year ended March 31, 2018 towards forfeiture of stock incentives granted to Dr. Vishal Sikka upon his resignation. Refer note no. 2.16 The gratuity and provident plans are applicable only to employees drawing a salary in Indian rupees and there are no other significant foreign defined benefit plans. The employee benefit cost is recognized in the following line items in the consolidated statement of comprehensive income: (Dollars in millions) Year ended March 31, 2018 2017 2016 Cost of sales 5,379 4,987 4,627 Selling and marketing expenses 425 405 403 Administrative expenses 230 220 206 6,034 5,612 5,236 |
Equity
Equity | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Equity [Abstract] | |
Equity | 2.13 Equity Accounting policy (i) Ordinary Shares Ordinary shares are classified as equity. Incremental costs directly attributable to the issuance of new ordinary shares, share options and buyback are recognized as a deduction from equity, net of any tax effects. (ii) Treasury Shares When any entity within the Group purchases the company's ordinary shares, the consideration paid including any directly attributable incremental cost is presented as a deduction from total equity, until they are cancelled, sold or reissued. When treasury shares are sold or reissued subsequently, the amount received is recognized as an increase in equity, and the resulting surplus or deficit on the transaction is transferred to/ from share premium Share capital and share premium The Company has only one class of shares referred to as equity shares having a par value of ₹5/-. During the three months ended June 30, 2015 the Company allotted 1,148,472,332 fully paid-up shares of face value ₹5/- each pursuant to bonus issue approved by the shareholders through postal ballot. For both the bonus issues, bonus share of one equity share for every equity share held, and a stock dividend of one American Depositary Share (ADS) for every ADS held, respectively, has been allotted. Consequently, the ratio of equity shares underlying the ADSs held by an American Depositary Receipt holder remains unchanged. 10,801,956 and 11,289,514 shares were held by controlled trust, as of March 31, 2018 and March 31, 2017, respectively. The amount received in excess of the par value has been classified as share premium. Additionally, share-based compensation recognized in the consolidated statement of comprehensive income is credited to share premium. Amounts have been utilized for bonus issue from share premium account. Retained earnings Retained earnings represent the amount of accumulated earnings of the Group. Other Reserves The Special Economic Zone Re-investment reserve has been created out of the profit of the eligible SEZ unit in terms of the provisions of Sec 10AA (1)(ii) of Income Tax Act, 1961. The reserve should be utilized by the Company for acquiring new plant and machinery for the purpose of its business in terms of the provisions of the Sec 10AA (2) of the Income Tax Act, 1961. Other components of equity Other components of equity consist of currency translation, re-measurement of net defined benefit liability/asset, fair value changes of equity instruments fair valued through other comprehensive income, changes on fair valuation of investments, net of taxes. The Group’s objective when managing capital is to safeguard its ability to continue as a going concern and to maintain an optimal capital structure so as to maximize shareholder value. In order to maintain or achieve an optimal capital structure, the Company may adjust the amount of dividend payment, return capital to shareholders, issue new shares or buy back issued shares. As of March 31, 2018, the company had only one class of equity shares and had no debt. Consequent to the above capital structure, there are no externally imposed capital requirements. Share buyback In line with the capital allocation policy, the Board, at its meeting on August 19, 2017, approved a proposal for the Company to buyback its fully paid-up equity shares of face value of ₹5/- each from the eligible equity shareholders of the Company for an amount not exceeding ₹13,000 crore ($2 billion). The shareholders approved the said proposal of buyback of Equity Shares through the postal ballot that concluded on October 7, 2017. The Buyback offer comprised a purchase of 113,043,478 equity Shares aggregating 4.92% of the paid-up equity share capital of the Company at a price of ₹1,150 per equity share. The buyback was offered to all eligible equity shareholders (including those who became equity shareholders as on the Record date by cancelling American Depository Shares and withdrawing underlying equity shares) of the Company as on the Record Date (i.e. November 1, 2017) on a proportionate basis through the “Tender offer” route. The Company concluded the buyback procedures on December 27, 2017 and 113,043,478 equity shares were extinguished. The company has utilized its securities premium and general reserve for the buyback of its shares. In accordance with section 69 of the Indian Companies Act, 2013, the company has created ‘Capital Redemption Reserve’ of $9 million equal to the nominal value of the shares bought back as an appropriation from general reserve. Bonus issue The Board in its meeting held on July 13, 2018 has considered, approved and recommended a bonus issue of one equity share for every equity share held and a stock dividend of one American Depositary Share (ADS) for every ADS held, as on a record date to be determined. Consequently, the ratio of equity shares underlying the ADSs held by an American Depositary Receipt holder would remain unchanged. The Board approved and recommended the issue to celebrate 25th year of public listing in India and to further increase the liquidity of its shares. The bonus issue of equity shares and ADSs will be subject to approval by the shareholders, and any other applicable statutory and regulatory approvals. Consequently, the authorized share capital will be increased, subject to the approval of shareholders. Appropriate adjustments as necessary for the issue of bonus shares / stock dividend as mentioned above to Restricted Stock Units (RSUs) /Employee Stock Options(ESOPs) which have been granted to employees of the Company under its 2015 Stock incentive compensation Plan, shall be made. The bonus shares once allotted shall rank pari passu in all respects and carry the same rights as the existing equity shareholders and the holders of the bonus shares shall be entitled to participate in full, in any dividend and other corporate action, recommended and declared after the new equity shares are allotted. The rights of equity shareholders are set out below. 2.13.1 Voting Each holder of equity shares is entitled to one vote per share. The equity shares represented by American Depositary Shares (ADS) carry similar rights to voting and dividends as the other equity shares. Each ADS represents one underlying equity share. 2.13.2 Dividends Accounting Policy Final dividends on shares are recorded as a liability on the date of approval by the shareholders and interim dividends are recorded as a liability on the date of declaration by the company's Board of Directors. The Company declares and pays dividends in Indian rupees. The remittance of dividends outside India is governed by Indian law on foreign exchange and is subject to applicable distribution taxes. Dividend distribution tax paid by subsidiaries may be reduced / available as credit against dividend distribution tax payable by Infosys Limited. Effective from Financial Year 2018, the Company's policy is to payout up to 70% of the free cash flow of the corresponding Financial Year in such manner (including by way of dividend and / or share buyback) as may be decided by the Board from time to time, subject to applicable laws and requisite approvals, if any. Free cash flow is defined as net cash provided by operating activities less capital expenditure as per the consolidated statement of cash flows prepared under IFRS. Dividend payout includes dividend distribution tax. The following table provides details of per share dividend recognized during fiscal 2018, 2017 and 2016: Fiscal 2018 Fiscal 2017 Fiscal 2016 Dividend per Equity Share (₹) Interim dividend (3) 13.00 11.00 10.00 Final dividend (4) 14.75 14.25 14.75 (2) Dividend per Equity Share/ADS ($) (1) Interim dividend (3) 0.20 0.17 0.15 Final dividend (4) 0.23 0.22 0.24 (2) (1) (2) Adjusted for June 17, 2015 bonus share issue. (3) (4) Represents final dividend for the preceding fiscal year The Board of Directors recommended a final dividend of ₹20.50/- per equity share (approximately $0.31 per equity share) for the financial year ended March 31, 2018 and a special dividend of ₹10/- per equity share (approximately $0.15 per equity share). Subsequent to the year ended March 31, 2018, based on the approval from the shareholders, the company has paid out $1,164 million comprising of the final dividend and special dividend including dividend distribution tax thereon. 2.13.3 Liquidation In the event of liquidation of the company, the holders of shares shall be entitled to receive any of the remaining assets of the company, after distribution of all preferential amounts. However, no such preferential amounts exist currently, other than the amounts held by irrevocable controlled trusts. The amount distributed will be in proportion to the number of equity shares held by the shareholders. For irrevocable controlled trusts, the corpus would be settled in favor of the beneficiaries. 2.13.4 Share options There are no voting, dividend or liquidation rights to the holders of options issued under the company's share option plans. |
Other income, net
Other income, net | 12 Months Ended |
Mar. 31, 2018 | |
Expense By Nature [Abstract] | |
Other income, net | 2.14 Other income, net Accounting policy Other income is comprised primarily of interest income, dividend income, gain/loss on investments and exchange gain/loss on forward and options contracts and on translation of other assets and liabilities. Interest income is recognized using the effective interest method. Dividend income is recognized when the right to receive payment is established. Functional currency and presentation currency The functional currency of Infosys, Infosys BPM, EdgeVerve, Skava and controlled trusts is the Indian rupee. The functional currencies for foreign subsidiaries are their respective local currencies. These financial statements are presented in U.S. dollars (rounded off to the nearest million) to facilitate the investors’ ability to evaluate Infosys’ performance and financial position in comparison to similar companies domiciled in other geographic locations. Transactions and translations Foreign-currency denominated monetary assets and liabilities are translated into the relevant functional currency at exchange rates in effect at the balance sheet date. The gains or losses resulting from such translations are included in the statement of comprehensive income. Non-monetary assets and non-monetary liabilities denominated in a foreign currency and measured at fair value are translated at the exchange rate prevalent at the date when the fair value was determined. Non-monetary assets and non-monetary liabilities denominated in a foreign currency and measured at historical cost are translated at the exchange rate prevalent at the date of transaction. Transaction gains or losses realized upon settlement of foreign currency transactions are included in determining net profit for the period in which the transaction is settled. Revenue, expense and cash-flow items denominated in foreign currencies are translated into the relevant functional currencies using the exchange rate in effect on the date of the transaction. The translation of financial statements of the entities of the group from functional currency to the presentation currency is performed for assets and liabilities using the exchange rate in effect at the balance sheet date and for revenue, expense and cash-flow items using the average exchange rate for the respective periods. The gains or losses resulting from such translation are included in currency translation reserves under other components of equity. When a subsidiary is disposed of, in full, the relevant amount is transferred to the statement of comprehensive income. However, when a change in the parent's ownership does not result in loss of control of a subsidiary, such changes are recorded through equity. Goodwill and fair value adjustments arising on the acquisition of a foreign entity are treated as assets and liabilities of the foreign entity and translated at the exchange rate in effect at the balance sheet date. Government grants The Group recognizes government grants only when there is reasonable assurance that the conditions attached to them shall be complied with, and the grants will be received. Government grants related to assets are treated as deferred income and are recognized in the statement of comprehensive income on a systematic and rational basis over the useful life of the asset. Government grants related to revenue are recognized on a systematic basis in the statement of comprehensive income over the periods necessary to match them with the related costs which they are intended to compensate. Other income consists of the following: (Dollars in millions) Year ended March 31, 2018 2017 2016 Interest income on financial assets carried at amortized cost 260 352 402 Interest income on financial assets fair valued through other comprehensive income 106 28 – Dividend income on investments carried at fair value through profit or loss 1 4 10 Gain / (loss) on investments carried at fair value through profit or loss 39 18 – Exchange gains / (losses) on forward and options contracts – 89 4 Exchange gains / (losses) on translation of other assets and liabilities 36 (54) 21 Reduction in fair value of Disposal Group held for sale (refer note no. 2.9) (18) – – Others 71 22 39 495 459 476 |
Leases
Leases | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Finance Lease And Operating Lease By Lessee [Abstract] | |
Leases | 2.15 Leases Accounting policy Leases under which the group assumes substantially all the risks and rewards of ownership are classified as finance leases. When acquired, such assets are capitalized at fair value or present value of the minimum lease payments at the inception of the lease, whichever is lower. Lease payments under operating leases are recognized as an expense on a straight line basis in the statement of comprehensive income over the lease term. The Group has various operating leases, mainly for office buildings, that are renewable on a periodic basis. Rental expense for operating leases was $82 million, $73 million and $55 million for fiscal 2018, 2017 and 2016, respectively. The schedule of future minimum rental payments in respect of non-cancellable operating leases is set out below: (Dollars in millions) As of March 31, 2018 March 31, 2017 Within one year of the balance sheet date 70 71 Due in a period between one year and five years 213 191 Due after five years 134 114 A majority of the group’s operating lease arrangements extend up to a maximum of ten years from their respective dates of inception, and relate to rented premises. Some of these lease agreements contain a price escalation clause. |
Employees' Stock Option Plans (
Employees' Stock Option Plans (ESOP) | 12 Months Ended |
Mar. 31, 2018 | |
Employee Stock Option Plan | |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |
Employees' Stock Option Plans (ESOP) | 2.16 Employees' Stock Option Plans (ESOP) Accounting policy The Group recognizes compensation expense relating to share-based payments in net profit using fair-value in accordance with IFRS 2, Share-Based Payment. The estimated fair value of awards is charged to income on a straight-line basis over the requisite service period for each separately vesting portion of the award as if the award was in-substance, multiple awards with a corresponding increase to share premium. Amendment to IFRS 2: Effective April 1, 2017, the Group has early adopted amendment to IFRS 2 which provides specific guidance to measurement of cash-settled awards, modification of cash-settled awards and awards that include a net settlement feature in respect of withholding taxes. The adoption of the amendment did not have any material effect on the consolidated financial statements. 2015 Stock Incentive Compensation Plan (formerly 2011 RSU Plan) (the 2015 Plan): On March 31, 2016, pursuant to the approval by the shareholders through postal ballot, the Board has been authorized to introduce, offer, issue and allot share-based incentives to eligible employees of the Company and its subsidiaries under the 2015 Stock Incentive Compensation Plan (the 2015 Plan). The maximum number of shares under the 2015 plan shall not exceed 24,038,883 equity shares (this includes 11,223,576 equity shares which are held by the trust towards the 2011 Plan as at March 31, 2016). Out of this 17,038,883 equity shares will be issued as RSUs at par value and 7,000,000 equity shares will be issued as stock options at market price on the date of the grant. These instruments will generally vest over a period of 4 years and the Company expects to grant the instruments under the 2015 Plan over the period of 4 to 7 years. Controlled trust holds 10,801,956 and 11,289,514 shares as at March 31, 2018 and March 31, 2017, respectively under the 2015 plan, out of which 1,00,000 equity shares have been earmarked for welfare activities of the employees. The following is the summary of grants made during fiscal 2018, 2017 and 2016 under the 2015 Plan: Particulars Fiscal 2018 Fiscal 2017 Fiscal 2016 RSU Salil Parekh, CEO and MD - Refer Note 1 below 113,024 – – U.B. Pravin Rao, COO and WTD 27,250 – – Dr.Vishal Sikka* 270,224 120,700 124,061 Other KMP** 271,100 246,250 – Employees other than KMP 1,599,010 2,507,740 – 2,280,608 2,874,690 124,061 ESOP U.B. Pravin Rao, COO and WTD 43,000 – – Dr. Vishal Sikka* 330,525 – – Other KMP** 44,450 502,550 – Employees other than KMP 73,600 703,300 – 491,575 1,205,850 – Incentive units- cash settled Other employees 50,040 112,210 – 50,040 112,210 – Total grants 2,822,223 4,192,750 124,061 * Upon Dr. Vishal Sikka's resignation from the roles of the company, the unvested RSUs and ESOPs have been forfeited ** Refer note 2.19 for details on resignation of certain KMPs Note: 1. Stock incentives granted to Salil Parekh, CEO and MD Pursuant to the approval of the shareholders through a postal ballot on February 20, 2018, Salil Parekh (CEO & MD) is eligible to receive under the 2015 Plan: a) an annual grant of RSUs of fair value ₹3.25 crore (approximately $0.5 million) which will vest over time in 3 equal annual installments upon completion of each year of service from the respective grant date b) a one-time grant of RSUs of fair value ₹9.75 crore (approximately $1.5 million) which will vest over time in 2 equal annual installments upon completion of each year of service from the grant date and c) annual grant of performance based RSUs of fair value ₹13 crore (approximately $2 million) which will vest after completion of three years the first of which concludes on March 31, 2021, subject to achievement of performance targets set by the Board or its committee. The Board based on the recommendations of the Nomination and Remuneration committee approved on February 27, 2018, the annual time based grant for fiscal 2018 of 28,256 RSUs and the one-time time based grant of 84,768 RSUs. The grants were made effective February 27, 2018. Though the annual time based grants for the remaining employment term ending on January 1, 2023 have not been granted as of March 31, 2018, since the service commencement date precedes the grant date, the company has recorded employment stock compensation expense in accordance with IFRS 2, Share based payments. The RSUs and stock options would vest generally over a period of 4 years and shall be exercisable within the period as approved by the Committee. The exercise price of the RSUs will be equal to the par value of the shares and the exercise price of the stock options would be the market price as on the date of grant. Break-up of employee stock compensation expense (Dollars in millions) Year ended March 31, 2018 2017 2016 Granted to: KMP (1) (2 ) 5 1 Employees other than KMP 15 12 – Total 13 17 1 Cash settled stock compensation expense included in the above 1 – – ( 1 ) Included a reversal of stock compensation cost of $5 million for fiscal 2018, towards forfeiture of stock incentives granted to Dr. Vishal Sikka upon his resignation. The activity in the 2015 Plan for equity-settled share based payment transaction during the year ended March 31, 2018 is set out below: Year ended March 31, 2018 Shares arising out of options Weighted average exercise price($) 2015 Plan -RSU Outstanding at the beginning* 2,961,373 0.07 Granted 2,280,608 0.08 Exercised 648,217 0.07 Forfeited and expired 843,355 0.07 Outstanding at the end 3,750,409 0.07 Exercisable at the end 24,205 0.07 2015 Plan-ESOP Outstanding at the beginning 1,197,650 15.26 Granted 491,575 14.62 Exercised 52,412 15.26 Forfeited and expired 669,900 14.84 Outstanding at the end 966,913 15.23 Exercisable at the end 196,912 15.26 The activity in the 2015 Plan for equity-settled share based payment transaction during the year ended March 31, 2017 is set out below: Year ended March 31, 2017 Shares arising out of options Weighted average exercise price ($) 2015 Plan -RSU Outstanding at the beginning* 221,505 0.07 Granted 2,874,690 0.07 Forfeited and expired 100,760 0.07 Exercised 34,062 – Outstanding at the end 2,961,373 0.07 Exercisable at the end – – 2015 Plan -ESOP Outstanding at the beginning – – Granted 1,205,850 15.26 Forfeited and expired 8,200 15.26 Exercised – – Outstanding at the end 1,197,650 15.26 Exercisable at the end – – As at March 31, 2018 and March 31, 2017, 111,757 and 106,845 incentive units were outstanding (net of forfeitures). The activity in the 2015 Plan for equity-settled share based payment transaction during the year ended March 31, 2016 is set out below: Year ended March 31, 2016 Shares arising out of options Weighted average exercise price($) 2015 Plan - RSU Outstanding at the beginning* 108,268 0.07 Granted 124,061 0.07 Forfeited and expired – – Exercised* 10,824 0.07 Outstanding at the end 221,505 0.07 Exercisable at the end – – * Adjusted for bonus issue. (Refer to note 2.13). During the year ended March 31, 2018, March 31, 2017 and March 31, 2016, the weighted average share price of options exercised under the 2015 Plan on the date of exercise was $15.48, $16.10 and $16, respectively The following table summarizes information about equity settled RSUs and ESOPs outstanding as of March 31, 2018: Options outstanding Range of exercise prices per share ($) No. of shares arising out of options Weighted average remaining contractual life Weighted average exercise price ($) 2015 Plan: ADS and IES 0 - 0.08 (RSU) 3,750,409 1.89 0.07 13 - 17 (ESOP) 966,913 6.60 15.23 4,717,322 2.57 3.18 The following table summarizes information about equity settled RSUs and ESOPs outstanding as at March 31, 2017: Options outstanding Range of exercise prices per share ($) No. of shares arising out of options Weighted average remaining contractual life Weighted average exercise price ($) 2015 Plan: 0 - 0.07 (RSU) 2,961,373 1.88 0.07 14 - 16 (ESOP) 1,197,650 7.09 15.83 4,159,023 3.38 4.61 The fair value of each equity settled RSU is estimated on the date of grant using the Black-Scholes-Merton model with the following assumptions: Particulars For options granted in Fiscal 2018-Equity Shares-RSU Fiscal 2018-Equity shares ESOP Fiscal 2018 -ADS-RSU Fiscal 2018 -ADS-ESOP Weighted average share price ( ₹ 1,144 923 16.61 14.65 Exercise price (₹)/ ($- ADS) 5.00 919 0.08 14.67 Expected volatility (%) 20-25 25-28 21-26 25-31 Expected life of the option (years) 1 - 4 3 - 7 1 - 4 3 - 7 Expected dividends (%) 2.78 2.78 2.74 2.74 Risk-free interest rate (%) 6 - 7 6 - 7 1 - 2 1 - 2 Weighted average fair value as on grant date (₹) / ($- ADS) 1,066 254 15.47 2.93 Particulars For options granted in Fiscal 2017-Equity Shares-RSU Fiscal 2017-Equity shares ESOP Fiscal 2017 -ADS-RSU Fiscal 2017 -ADS-ESOP Weighted average share price (₹) / ($- ADS) 1,067 989 15.77 15.26 Exercise price (₹)/ ($- ADS) 5.00 998 0.07 15.26 Expected volatility (%) 24-29 27-29 26-29 27-31 Expected life of the option (years) 1- 4 3 - 7 1- 4 3 - 7 Expected dividends (%) 2.37 2.37 2. 29 2. 29 Risk-free interest rate (%) 6- 7 6- 7 1 - 2 1 - 2 Weighted average fair value as on grant date (₹) / ($- ADS) 1,002 285 14.84 3.46 The expected term of the RSU / ESOP is estimated based on the vesting term and contractual term of the RSU / ESOP, as well as expected exercise behavior of the employee who receives the RSU / ESOP. Expected volatility during the expected term of the RSU / ESOP is based on historical volatility of the observed market prices of the company's publicly traded equity shares during a period equivalent to the expected term of the RSU / ESOP. |
Income Taxes
Income Taxes | 12 Months Ended |
Mar. 31, 2018 | |
Major Components Of Tax Expense Income [Abstract] | |
Income Taxes | 2.17 Income taxes Accounting policy Income tax expense comprises current and deferred income tax. Income tax expense is recognized in the statement of comprehensive income except to the extent that it relates to items recognized directly in equity, in which case it is recognized in other comprehensive income. Current income tax for current and prior periods is recognized at the amount expected to be paid to or recovered from the tax authorities, using the tax rates and tax laws that have been enacted or substantively enacted by the balance sheet date. Deferred income tax assets and liabilities are recognized for all temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements except when the deferred income tax arises from the initial recognition of goodwill or an asset or liability in a transaction that is not a business combination and affects neither accounting nor taxable profit or loss at the time of the transaction. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realized. Deferred income tax assets and liabilities are measured using tax rates and tax laws that have been enacted or substantively enacted by the balance sheet date and are expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect of changes in tax rates on deferred income tax assets and liabilities is recognized as income or expense in the period that includes the enactment or the substantive enactment date. A deferred income tax asset is recognized to the extent that it is probable that future taxable profit will be available against which the deductible temporary differences and tax losses can be utilized. Deferred income taxes are not provided on the undistributed earnings of subsidiaries and branches where it is expected that the earnings of the subsidiary or branch will not be distributed in the foreseeable future. The group offsets current tax assets and current tax liabilities, where it has a legally enforceable right to set off the recognized amounts and where it intends either to settle on a net basis, or to realize the asset and settle the liability simultaneously. Tax benefits of deductions earned on exercise of employee share options in excess of compensation charged to income are credited to share premium. Income tax expense in the consolidated statement of comprehensive income comprises: (Dollars in millions) Year ended March 31, 2018 2017 2016 Current taxes Domestic taxes 721 616 642 Foreign taxes (12) 226 167 709 842 809 Deferred taxes Domestic taxes (80) (1) 3 Foreign taxes 28 (7) (13) (52) (8) (10) Income tax expense 657 834 799 During the three months ended December 31, 2017, the Company has concluded an Advance Pricing Agreement (“APA”) with the US Internal Revenue Service (“IRS”) for the US branch covering fiscal years 2011 to 2021. Under the APA, the Company and the IRS have agreed on the methodology to allocate revenues and compute the taxable income of the Company’s US Branch operations. In accordance with the APA, the company has reversed income tax expense provision of $225 million. This comprises reversal of current tax expense of $253 million, reversal of $21 million on account of deferred tax assets pertaining to the temporary differences which are no longer required and a deferred tax liability of $7 million pertaining to Branch profit tax for the three months ended December 31, 2017 on account of conclusion of APA. In line with the APA, the Company has to pay an amount of approximately $233 million due to the difference between the taxes payable for prior periods as per the APA and the actual taxes paid for such periods. The company has paid $138 million till date. Additionally, income tax expense for the year ended March 31, 2018, 2017 and 2016 includes reversals (net of provisions) of $45 million, $23 million and $47 million, respectively, pertaining to prior periods on account of adjudication of certain disputed matters in favor of the company across various jurisdictions. The “Tax Cuts and Jobs Act (H.R. 1)” was signed into law on December 22, 2017 (“US Tax Reforms”). The US tax reforms has reduced federal tax rates from 35% to 21% effective January 1, 2018 amongst other measures. During the year ended March 31, 2018, the US tax reforms has resulted in a positive impact of $24 million on account of credits pertaining to deferred tax liabilities on branch profit. Entire deferred income tax, except for a credit of $24 million (on account of US Tax Reforms explained above), for the year ended March 31, 2018, relates to origination and reversal of temporary differences. Entire deferred income tax for fiscal 2017 and 2016 relates to origination and reversal of temporary differences. During fiscal 2018, a current tax charge of $2 million has been recorded in other comprehensive income pertaining to remeasurement of defined benefit plan asset. During fiscal 2017 and 2016, a current tax credit of $1 million and Nil has been recorded in other comprehensive income pertaining to remeasurement of defined benefit plan asset. During fiscal 2017, on account of adoption of IFRS 9, there was a reversal of deferred tax liability of $1 million pertaining to unrealized gains on quoted debt securities. During fiscal 2018 and fiscal 2017, a reversal of net deferred tax liability of $2 million and a deferred tax liability of $2 million, respectively has been recorded in other comprehensive income pertaining to unrealized gains on derivatives designated as cash flow hedges. The company, being a resident in India as per the provisions of the Income Tax Act, 1961, is required to pay taxes in India on the global income in accordance with the provisions of Section 5 of the Indian Income Tax Act, 1961, which is reflected as domestic taxes. The geographical segment disclosures on revenue in note 2.20.2 are based on the location of customers and do not reflect the geographies where the actual delivery or revenue-related efforts occur. The income on which domestic taxes are imposed are not restricted to the income generated from the “India” geographic segment. As such, amounts applicable to domestic income taxes and foreign income taxes will not necessarily correlate to the proportion of revenue generated from India and other geographical segments as per the geographic segment disclosure set forth in note 2.20.2. A reconciliation of the income tax provision to the amount computed by applying the statutory income tax rate to the income before income taxes is summarized below: (Dollars in millions) Year ended March 31, 2018 2017 2016 Profit before income taxes 3,143 2,974 2,851 Enacted tax rates in India 34.61% 34.61% 34.61% Computed expected tax expense 1,088 1,029 987 Tax effect due to non-taxable income for Indian tax purposes (321) (295) (268) Overseas taxes 109 112 109 Tax provision (reversals) (253) (23) (47) Effect of differential overseas tax rates 8 10 1 Effect of exempt non-operating income (10) (10) (13) Effect of unrecognized deferred tax assets 29 14 9 Effect of non-deductible expenses 9 4 30 Branch profit tax (net of credits) (32) – – Subsidiary dividend distribution tax 27 – – Others 3 (7) (9) Income tax expense 657 834 799 Other income for year ended March 31, 2018, includes interest on income tax refund of $41 million. The foreign tax expense is due to income taxes payable overseas, principally in the United States. In India, the company has benefited from certain tax incentives that the Government of India had provided for export of software from the units registered under the Special Economic Zones Act, 2005 (SEZ). SEZ units which began the provision of services on or after April 1, 2005 are eligible for a deduction of 100 % of profits or gains derived from the export of services for the first five years from the financial year in which the unit commenced the provision of services and 50% of such profits or gains for a further five years. Up to 50% of such profits or gains is also available for a further five years subject to creation of a Special Economic Zone Re-investment Reserve out of the profit of the eligible SEZ units and utilization of such reserve by the Company for acquiring new plant and machinery for the purpose of its business as per the provisions of the Income Tax Act, 1961. (Refer to Other Reserves under note 2.13 Equity). As a result of these tax incentives, a portion of the company’s pre-tax income has not been subject to tax in recent years. These tax incentives resulted in a decrease in our income tax expense of $321 million, $295 million and $268 million for the year ended March 31, 2018, 2017 and 2016, respectively, compared to the tax amounts that we estimate we would have been required to pay if these incentives had not been available. The per share effect of these tax incentives computed based on both basic and diluted weighted average number of equity shares for the year ended March 31, 2018, March 31, 2017 and March 2016 was $0.14, $0.13 and $0.12, respectively. Infosys is subject to a 15% Branch Profit Tax (BPT) in the U.S. to the extent its U.S. branch's net profit during the year is greater than the increase in the net assets of the U.S. branch during the year, computed in accordance with the Internal Revenue Code. As of March 31, 2018, Infosys' U.S. branch net assets amounted to approximately $772 million. During the year ended March 31, 2018 an additional deferred tax liability has been created for branch profit tax amounting to $7 million on account of conclusion of APA explained above. Further, on account of US tax Reforms, the company has a credit of $24 million pertaining to Branch Profit Tax for year ended March 31, 2018. The company has also reversed $8 million of Branch profit tax during the year ended March 31, 2018 towards current taxes. As of March 31, 2018, the Company has a deferred tax liability for branch profit tax of $25 million (net of credits), as the Company estimates that these branch profits are expected to be distributed in the foreseeable future. During the year ended March 31, 2018, the Company received $130 million as dividend from Infosys BPM, its majority owned subsidiary. Dividend distribution tax paid by the subsidiary on such dividend has been reduced as credit against dividend distribution tax payable by Infosys. Accordingly, the group has recorded a charge of $27 million as income tax expense during the year ended March 31, 2018. Deferred income tax liabilities have not been recognized on temporary differences amounting to $774 million and $819 million as of March 31, 2018 and March 31, 2017, respectively, associated with investments in subsidiaries and branche0s as it is probable that the temporary differences will not reverse in the foreseeable future. Deferred income tax assets have not been recognized on accumulated losses of $297 million and $303 million as of March 31, 2018 and March 31, 2017, respectively, as it is probable that future taxable profit will be not available against which the unused tax losses can be utilized in the foreseeable future. The balance as of March 31, 2018 excludes the accumulated losses of disposal groups held for sale. (Refer note 2.9) The following table provides details of expiration of unused tax losses: Year in USD millions 2019 14 2020 37 2021 12 2022 21 2023 39 Thereafter 174 Total 297 The following table provides the details of income tax assets and income tax liabilities as of March 31, 2018 and March 31, 2017: As of March 31, 2018 March 31, 2017 Income tax assets 931 881 Current income tax liabilities (314 ) (599 ) Net current income tax assets / (liabilities) at the end 617 282 The gross movement in the current income tax asset / (liability) for fiscal 2018, 2017 and 2016 is as follows: (Dollars in millions) Year ended March 31, 2018 2017 2016 Net current income tax asset / (liability) at the beginning 282 274 203 Translation differences (8) 6 (12) Income tax paid 1,059 843 892 Current income tax expense (Refer to Note 2.17) (709) (842) (809) Income tax on other comprehensive income (2) 1 – Reclassified under assets held for sale (refer note no 2.9) (5) – – Net current income tax asset / (liability) at the end 617 282 274 The movement in gross deferred income tax assets and liabilities (before set off) for fiscal 2018 is as follows: (Dollars in millions) Carrying value as of April 1, 2017 Changes through profit and loss Changes through OCI Reclassified as Held for Sale Translation difference Carrying value as of March 31, 2018 Deferred income tax assets Property, plant and equipment 21 12 – – – 33 Computer software 6 (6 ) – – – – Accrued compensation to employees 9 (8 ) – – 1 2 Trade receivables 21 1 – – – 22 Compensated absences 58 – – – (2 ) 56 Post sales client support 15 – – – – 15 Derivative financial instruments – 2 – – – 2 Intangibles 3 (3 ) – – 1 1 Credits related to branch profits – 53 – – (1 ) 52 Others 22 (2 ) – (5 ) 3 18 155 49 – (5 ) 2 201 Deferred income tax liabilities Intangible asset (32 ) 13 – 13 – (6 ) Branch profit tax (50 ) (25 ) – – (2 ) (77 ) Derivative financial instruments (11 ) 11 – – – – Others (11 ) 4 2 – 1 (4 ) (104 ) 3 2 13 (1 ) (87 ) The movement in gross deferred income tax assets and liabilities (before set off) for fiscal 2017 is as follows: (Dollars in millions) Carrying value as of April 1, 2016 Changes through profit and loss Changes through OCI Translation difference Carrying value as of March 31, 2017 Deferred income tax assets Property, plant and equipment 27 (6 ) – – 21 Computer software 8 (2 ) – – 6 Accrued compensation to employees 10 – – (1 ) 9 Trade receivables 13 8 – – 21 Compensated absences 59 (3 ) – 2 58 Post sales client support 12 3 – – 15 Intangibles 1 2 – – 3 Others 7 14 – 1 22 137 16 – 2 155 Deferred income tax liabilities Intangible asset (38 ) 6 – – (32 ) Branch profit tax (51 ) – – 1 (50 ) Derivative financial instruments – (11 ) – – (11 ) Others * (6 ) (3 ) (1 ) (1 ) (11 ) (95 ) (8 ) (1 ) – (104 ) * included in others is the impact on adoption of IFRS 9 of $1 million The movement in gross deferred income tax assets and liabilities (before set off) for fiscal 2016 is as follows: (Dollars in millions) Carrying value as of April 1, 2015 Changes through profit and loss Changes through OCI Additions through Business Combinations Translation difference Carrying value as of March 31, 2016 Deferred income tax assets Property, plant and equipment 38 (9 ) – – (2 ) 27 Computer software 8 – – – – 8 Accrued compensation to employees 8 3 – – (1 ) 10 Trade receivables 17 (4 ) – – – 13 Compensated absences 48 14 – – (3 ) 59 Post sales client support 12 – – – – 12 Intangibles – 1 – – – 1 Others 5 3 – – (1 ) 7 136 8 – – (7 ) 137 Deferred income tax liabilities Intangible asset (25 ) 7 – (20 ) – (38 ) Branch profit tax (51 ) – – – – (51 ) Others – (5 ) (1 ) – – (6 ) (76 ) 2 (1 ) (20 ) – (95 ) (Dollars in millions) As of March 31, 2018 March 31, 2017 Deferred income tax assets after set off 196 83 Deferred income tax liabilities after set off (82) (32) Deferred income tax assets and deferred income tax liabilities have been offset wherever the group has a legally enforceable right to set off current income tax assets against current income tax liabilities and where the deferred income tax assets and deferred income tax liabilities relate to income taxes levied by the same taxation authority. In assessing the realizability of deferred income tax assets, management considers whether some portion or all of the deferred income tax assets will not be realized. The ultimate realization of deferred income tax assets is dependent upon the generation of future taxable income during the periods in which the temporary differences become deductible. Management considers the scheduled reversals of deferred income tax liabilities, projected future taxable income and tax planning strategies in making this assessment. Based on the level of historical taxable income and projections for future taxable income over the periods in which the deferred income tax assets are deductible, management believes that the group will realize the benefits of those deductible differences. The amount of the deferred income tax assets considered realizable, however, could be reduced in the near term if estimates of future taxable income during the carry forward period are reduced. The credit relating to temporary differences during the year ended March 31, 2018 are primarily on account of property plant and equipment and trade receivables partially offset by accrued compensation to employees. As at March 31, 2018, claims against the Group not acknowledged as debts from the Income tax authorities amounted to ₹3,041 crore ($467 million). These matters are pending before various Appellate Authorities and the management including its tax advisors expect that its position will likely be upheld on ultimate resolution and will not have a material adverse effect on the Group's financial position and results of operations. Amount paid to statutory authorities against the above tax claims amounted to ₹6,540 crore ($1,003 million). As at March 31, 2017, claims against the Group not acknowledged as debts from the Income tax authorities amounted to ₹6,378 crore ($984 million). Amount paid to statutory authorities against this amounted to ₹4,682 crore ($722 million). |
Reconciliation of Basic And Dil
Reconciliation of Basic And Diluted Shares Used In Computing Earnings Per Equity Share | 12 Months Ended |
Mar. 31, 2018 | |
Earnings Per Share [Abstract] | |
Reconciliation of Basic and Diluted Shares Used in Computing Earnings Per Equity Share | 2.18 Reconciliation of basic and diluted shares used in computing earnings per equity share Accounting policy Basic earnings per equity share is computed by dividing the net profit attributable to the equity holders of the company by the weighted average number of equity shares outstanding during the period. Diluted earnings per equity share is computed by dividing the net profit attributable to the equity holders of the company by the weighted average number of equity shares considered for deriving basic earnings per equity share and also the weighted average number of equity shares that could have been issued upon conversion of all dilutive potential equity shares. The dilutive potential equity shares are adjusted for the proceeds receivable had the equity shares been actually issued at fair value (i.e. the average market value of the outstanding equity shares). Dilutive potential equity shares are deemed converted as of the beginning of the period, unless issued at a later date. Dilutive potential equity shares are determined independently for each period presented. The number of equity shares and potentially dilutive equity shares are adjusted retrospectively for all periods presented for any share splits and bonus shares issues including for changes effected prior to the approval of the financial statements by the Board of Directors. The following is a reconciliation of the equity shares used in the computation of basic and diluted earnings per equity share: Year ended March 31, 2018 2017 2016 Basic earnings per equity share - weighted average number of equity shares outstanding (1)(2) 2,255,332,322 2,285,639,447 2,285,616,160 Effect of dilutive common equivalent shares - share options outstanding 2,241,548 757,298 102,734 Diluted earnings per equity share - weighted average number of equity shares and common equivalent shares outstanding 2,257,573,870 2,286,396,745 2,285,718,894 (1) excludes treasury shares (2) adjusted for bonus shares, wherever applicable Refer to note 2.13 For the year ended March 31, 2018 and March 31, 2017, 67,238 and 112,190 number of options to purchase equity shares, respectively, had an anti-dilutive effect. For the year ended March 31, 2016, there were no outstanding options to purchase equity shares which had an anti-dilutive effect. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Transactions Between Related Parties [Abstract] | |
Related Party Transactions | 2.19 Related party transactions List of subsidiaries: Particulars Country Holding as of March 31, 2018 March 31, 2017 Infosys Technologies (China) Co. Limited (Infosys China) China 100% 100% Infosys Technologies S. de R. L. de C. V. (Infosys Mexico) Mexico 100% 100% Infosys Technologies (Sweden) AB. (Infosys Sweden) Sweden 100% 100% Infosys Technologies (Shanghai) Company Limited (Infosys Shanghai) China 100% 100% Infosys Tecnologia DO Brasil LTDA. (Infosys Brasil) Brazil 100% 100% Infosys Nova Holdings LLC. (Infosys Nova) U.S. 100% 100% EdgeVerve Systems Limited (EdgeVerve) India 100% 100% Lodestone Management Consultants GmbH (1) Austria 100% 100% Skava Systems Pvt. Ltd. (Skava Systems) India 100% 100% Kallidus Inc. (Kallidus) U.S. 100% 100% Infosys Chile SpA (2) Chile - - Infosys Arabia Limited (3) Saudi Arabia 70% - Infosys Americas Inc., (Infosys Americas) U.S. 100% 100% Infosys Technologies (Australia) Pty. Limited (Infosys Australia) (4) Australia 100% 100% Infosys Public Services, Inc. USA (Infosys Public Services) U.S. 100% 100% Infosys Canada Public Services Ltd . (5)(6) Canada - - Infosys BPM Limited (formerly Infosys BPO Limited) India 99.98% 99.98% Infosys (Czech Republic) Limited s.r.o. (7) Czech Republic 99.98% 99.98% Infosys Poland, Sp z.o.o (7) Poland 99.98% 99.98% Infosys McCamish Systems LLC (7) U.S. 99.98% 99.98% Portland Group Pty Ltd (7) Australia 99.98% 99.98% Infosys BPO Americas LLC. (7) U.S. 99.98% 99.98% Infosys Consulting Holding AG (Infosys Lodestone) Switzerland 100% 100% Lodestone Management Consultants Inc. (4)(8) U.S. 100% 100% Infosys Management Consulting Pty Limited (8) Australia 100% 100% Infosys Consulting AG (8) Switzerland 100% 100% Infosys Consulting GmbH (8) Germany 100% 100% Infosys Consulting SAS (8) France 100% 100% Infosys Consulting s.r.o. (8) Czech Republic 100% 100% Lodestone Management Consultants Co., Ltd. (8) China 100% 100% Infy Consulting Company Ltd (8) U.K. 100% 100% Infy Consulting B.V. (8) The Netherlands 100% 100% Infosys Consulting Sp. z.o.o (8) Poland 100% 100% Lodestone Management Consultants Portugal, Unipessoal, Lda. (8) Portugal 100% 100% S.C. Infosys Consulting S.R.L. (8) Romania 100% 100% Infosys Consulting S.R.L. (8) Argentina 100% 100% Lodestone GmbH (8)(9) Switzerland - - Lodestone Augmentis AG (10)(11) Switzerland - - Infosys Consulting (Belgium) NV (formerly Lodestone Management Consultants (Belgium) S.A.) (12) Belgium 99.90% 99.90% Infosys Consulting Ltda. (12) Brazil 99.99% 99.99% Panaya Inc. (Panaya) U.S. 100% 100% Panaya Ltd . (13) Israel 100% 100% Panaya GmbH (13) Germany 100% 100% Panaya Japan Co. Ltd (4)(13) Japan 100% 100% Panaya Pty Ltd . (13)(14) Australia - - Noah Consulting LLC (Noah) (15) U.S. - 100% Noah Information Management Consulting Inc. (Noah Canada) (16)(17) Canada - 100% Brilliant Basics Holdings Limited (18) U.K. 100% - Brilliant Basics Limited (19) U.K. 100% - Brilliant Basics (MENA) DMCC (19) Dubai 100% - Infosys Consulting Pte Limited (1) Singapore 100% 100% Infosys Middle East FZ LLC (20) Dubai 100% - (1) (2) (3) (4) (5) (6) (7) (8) Wholly owned subsidiaries of Infosys Consulting Holding AG (formerly Lodestone Holding AG) (9) Liquidated effective December 21, 2016 (10) Wholly owned subsidiary of Infosys Consulting AG (formerly Lodestone Management Consultants AG) (11) Liquidated effective October 5, 2016 (12) Majority owned and controlled subsidiaries of Infosys Consulting Holding AG (formerly Lodestone Holding AG) (13) Wholly owned subsidiary of Panaya Inc. (14) Liquidated effective November 16, 2016 (15) Liquidated effective November 9, 2017 (16) Wholly owned subsidiary of Noah (17) Liquidated effective December 20, 2017 (18) On September 8, 2017, Infosys acquired 100% of the voting interests in Brilliant Basics Holdings Limited., UK (19) (20) Wholly-owned subsidiary of Infosys Consulting Pte Ltd During the year ended March 31, 2018, 2017 and 2016, Infosys Consulting AG (formerly Lodestone Management Consultants AG) paid a dividend of Nil, $4 million and $2 million, respectively, to its holding company, Lodestone Holding AG and the tax on such dividend received was Nil. During the year ended March 31, 2018 and 2017, Infy Consulting Company Ltd. (formerly Lodestone Management Consultants Ltd.) paid a dividend of $3 million and $5 million, respectively, to its holding company, Lodestone Holding AG and the tax on such dividend received was Nil. During the year ended March 31, 2018, the Company received $130 million as dividend from Infosys BPM. Dividend distribution tax paid by the subsidiary on such dividend has been reduced as credit against dividend distribution tax payable by Infosys. Accordingly, the group has recorded a charge of $27 million as income tax expense during the year ended March 31, 2018. During the year ended March 31, 2018, S.C. Infosys Consulting S.R.L. paid a dividend of $1 million, to its holding company, Infosys Consulting Holding AG and the tax on such dividend received was Nil. Infosys has provided guarantee for performance of certain contracts entered into by its subsidiaries. List of associates: Particulars Country Holding as of March 31, 2018 March 31, 2017 DWA Nova LLC (DWA Nova) (1) U.S. – 16% (1) List of other related parties: Particulars Country Nature of relationship Infosys Limited Employees' Gratuity Fund Trust India Post-employment benefit plan of Infosys Infosys Limited Employees' Provident Fund Trust India Post-employment benefit plan of Infosys Infosys Limited Employees' Superannuation Fund Trust India Post-employment benefit plan of Infosys Infosys BPM Limited Employees’ Superannuation Fund Trust (formerly Infosys BPO Limited Employees’ Superannuation Fund Trust) India Post-employment benefit plan of Infosys BPM Infosys BPM Limited Employees’ Gratuity Fund Trust (formerly Infosys BPO Limited Employees’ Gratuity Fund Trust) India Post-employment benefit plan of Infosys BPM EdgeVerve Systems Limited Employees‘ Gratuity Fund Trust India Post-employment benefit plan of EdgeVerve EdgeVerve Systems Limited Employees’ Superannuation Fund Trust India Post-employment benefit plan of EdgeVerve Infosys Employees’ Welfare Trust India Controlled Trust Infosys Employee Benefits Trust India Controlled Trust Infosys Science Foundation India Controlled Trust Refer to Note 2.12 for information on transactions relating to the post-employment benefit plans mentioned above. Transactions with key management personnel Salil Parekh appointed as Chief Executive Officer and Managing Director effective January 2, 2018. The appointment is for a term of 5 years with effect from January 2, 2018 to January 1, 2023 and the remuneration is approved by shareholders through postal ballot dated February 20, 2018. U. B. Pravin Rao, Chief Operating officer appointed as Interim-Chief Executive Officer and Managing Director effective August 18, 2017. Subsequently he stepped down as the interim CEO and Managing Director effective January 2, 2018 and will continue as Chief Operating Officer and a whole-time director of the Company. Dr. Vishal Sikka resigned as Chief Executive Officer and Managing Director effective August 18, 2017 and as Executive Vice Chairman effective August 24, 2017 The table below describes the compensation to key management personnel which comprises directors and executive officers under IAS 24: (Dollars in millions) Particulars Year ended March 31, 2018 2017 2016 Salaries and other employee benefits to whole-time directors and executive officers (1)(2) (3) (4)(5) 8 12 15 Commission and other benefits to non-executive / independent directors 2 2 2 Total 10 14 17 (1) (2) (3) (4) (5) |
Segment Reporting
Segment Reporting | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Operating Segments [Abstract] | |
Segment Reporting | 2.20 Segment reporting IFRS 8 establishes standards for the way that public business enterprises report information about operating segments and related disclosures about products and services, geographic areas, and major customers. The Group's operations predominantly relate to providing end-to-end business solutions to enable clients to enhance business performance. During the year ended March 31, 2016, the Group reorganized some of its segments to enhance executive customer relationships, improve focus of sales investments and increase management oversight. Consequent to the internal reorganization, Growth Markets (GMU) comprising businesses in APAC (Asia Pacific) and Africa have been subsumed across the other verticals and businesses in India, Japan and China are run as standalone regional business units and Infosys Public services (IPS) is reviewed separately by the Chief Operating Decision Maker (CODM). Further, the erstwhile manufacturing segment is now being reviewed as Hi-Tech, Manufacturing and others included in ECS. Consequent to the internal reorganizations, there were changes effected in the reportable business segments based on the "management approach" as defined in IFRS 8, Operating Segments. The CODM evaluates the Group's performance and allocates resources based on an analysis of various performance indicators by business segments and geographic segments. Accordingly, information has been presented both along business segments and geographic segments. The accounting principles used in the preparation of the financial statements are consistently applied to record revenue and expenditure in individual segments, and are as set out in the accounting policies. Business segments of the Group are primarily businesses in Financial Services (FS), businesses in Manufacturing (MFG), businesses in Retail, Consumer packaged goods and Logistics (RCL), businesses in the Energy & utilities, Communication and Services (ECS), businesses in Hi-Tech (Hi-Tech), businesses in Life Sciences, Healthcare and Insurance (HILIFE) and all other segments. The FS reportable segment has been aggregated to include the Financial Services operating segment and the Finacle operating segment because of the similarity of the economic characteristics. All other segments represent the operating segments of businesses in India, Japan and China and IPS. Geographic segmentation is based on business sourced from that geographic region and delivered from both onsite and off-shore locations. North America comprises the United States of America, Canada and Mexico, Europe includes continental Europe (both the east and the west), Ireland and the United Kingdom, and the Rest of the World comprising all other places except those mentioned above and India. Revenue and identifiable operating expenses in relation to segments are categorized based on items that are individually identifiable to that segment. Revenue for “all other segments” represents revenue generated by IPS and revenue generated from customers located in India, Japan and China. Allocated expenses of segments include expenses incurred for rendering services from the Group's offshore software development centers and onsite expenses, which are categorized in relation to the associated turnover of the segment. Certain expenses such as depreciation, which form a significant component of total expenses, are not specifically allocable to specific segments as the underlying assets are used interchangeably. Management believes that it is not practical to provide segment disclosures relating to those costs and expenses, and accordingly these expenses are separately disclosed as “unallocated” and adjusted against the total income of the Group. Assets and liabilities used in the Group’s business are not identified to any of the reportable segments, as these are used interchangeably between segments. Management believes that it is currently not practicable to provide segment disclosures relating to total assets and liabilities since a meaningful segregation of the available data is onerous. Geographical information on revenue and business segment revenue information is collated based on individual customers invoiced or in relation to which the revenue is otherwise recognized. 2.20.1 Business segments (Dollars in millions) Year ended March 31, 2018 FS MFG ECS RCL HILIFE Hi-Tech All other segments Total Revenues 2,891 1,194 2,599 1,722 1,438 784 311 10,939 Identifiable operating expenses 1,470 641 1,305 828 713 416 180 5,553 Allocated expenses 613 271 589 390 326 178 71 2,438 Segment profit 808 282 705 504 399 190 60 2,948 Unallocable expenses 289 Operating profit 2,659 Other income, net (refer note no. 2.14 and 2.9) 495 Share in associate's profit / (loss) including impairment (11) Profit before Income taxes 3,143 Income tax expense 657 Net profit 2,486 Depreciation and amortisation 289 Non-cash expenses other than depreciation and amortisation 29 (Dollars in millions) Year ended March 31, 2017 FS MFG ECS RCL HILIFE Hi-Tech All other segments Total Revenues 2,765 1,119 2,300 1,673 1,258 763 330 10,208 Identifiable operating expenses 1,382 584 1,107 802 623 396 210 5,104 Allocated expenses 607 259 532 387 291 177 76 2,329 Segment profit 776 276 661 484 344 190 44 2,775 Unallocable expenses 255 Operating profit 2,520 Other income, net 459 Share in associate's profit / (loss) including impairment (5) Profit before Income taxes 2,974 Income tax expense 834 Net profit 2,140 Depreciation and amortisation 254 Non-cash expenses other than depreciation and amortisation 1 (Dollars in millions) Year ended March 31, 2016 FS MFG ECS RCL HILIFE Hi-Tech All other segments Total Revenues 2,590 1,047 2,061 1,556 1,231 756 260 9,501 Identifiable operating expenses 1,248 555 944 742 585 371 156 4,601 Allocated expenses 606 257 505 381 302 185 65 2,301 Segment profit 736 235 612 433 344 200 39 2,599 Unallocable expenses 224 Operating profit 2,375 Other income, net 476 Share in associate's profit / (loss) including impairment – Profit before Income taxes 2,851 Income tax expense 799 Net profit 2,052 Depreciation and amortisation 222 Non-cash expenses other than depreciation and amortisation 2 2.20.2 Geographic segments (Dollars in millions) Year ended March 31, 2018 North America Europe India Rest of the World Total Revenues 6,605 2,596 346 1,392 10,939 Identifiable operating expenses 3,429 1,324 141 659 5,553 Allocated expenses 1,494 586 66 292 2,438 Segment profit 1,682 686 139 441 2,948 Unallocable expenses 289 Operating profit 2,659 Other income, net (refer note no. 2.14 and 2.9) 495 Share in associate's profit / (loss) including impairment (11) Profit before income taxes 3,143 Income tax expense 657 Net profit 2,486 Depreciation and amortization 289 Non-cash expenses other than depreciation and amortization 29 (Dollars in millions) Year ended March 31, 2017 North America Europe India Rest of the World Total Revenues 6,320 2,295 325 1,268 10,208 Identifiable operating expenses 3,222 1,147 149 586 5,104 Allocated expenses 1,460 529 66 274 2,329 Segment profit 1,638 619 110 408 2,775 Unallocable expenses 255 Operating profit 2,520 Other income, net 459 Share in associate's profit / (loss) including impairment (5) Profit before income taxes 2,974 Income tax expense 834 Net profit 2,140 Depreciation and amortization 254 Non-cash expenses other than depreciation and amortization 1 (Dollars in millions) Year ended March 31, 2016 North America Europe India Rest of the World Total Revenues 5,957 2,186 246 1,112 9,501 Identifiable operating expenses 2,936 1,060 109 496 4,601 Allocated expenses 1,459 534 51 257 2,301 Segment profit 1,562 592 86 359 2,599 Unallocable expenses 224 Operating profit 2,375 Other income, net 476 Share in associate's profit / (loss) including impairment – Profit before income taxes 2,851 Income tax expense 799 Net profit 2,052 Depreciation and amortization 222 Non-cash expenses other than depreciation and amortization 2 2.20.3 Significant clients No client individually accounted for more than 10% of the revenues for the year ended March 31, 2018, 2017 and 2016. |
Litigation
Litigation | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Litigation [Abstract] | |
Litigation | 2.21 Litigation The company is subject to legal proceedings and claims, which have arisen in the ordinary course of business. The company’s management does not reasonably expect that these legal actions, when ultimately concluded and determined, will have a material and adverse effect on the company’s results of operations or financial condition. |
Overview (Policies)
Overview (Policies) | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Significant Accounting Policies [Abstract] | |
Basis of preparation of financial statements | 1.2 Basis of preparation of financial statements These consolidated financial statements have been prepared in compliance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board, under the historical cost convention on the accrual basis except for certain financial instruments which have been measured at fair values. Accounting policies have been applied consistently to all periods presented in these consolidated financial statements. As the year-end figures are taken from the source and rounded to the nearest digits, the figures reported for the previous quarters might not always add up to the year-end figures reported in this statement. |
Basis of consolidation | 1.3 Basis of consolidation Infosys consolidates entities which it owns or controls. The consolidated financial statements comprise the financial statements of the company, its controlled trusts and its subsidiaries. Control exists when the parent has power over the entity, is exposed, or has rights, to variable returns from its involvement with the entity and has the ability to affect those returns by using its power over the entity. Power is demonstrated through existing rights that give the ability to direct relevant activities, those which significantly affect the entity's returns. Subsidiaries are consolidated from the date control commences until the date control ceases. The financial statements of the Group companies are consolidated on a line-by-line basis and intra-group balances and transactions including unrealized gain / loss from such transactions are eliminated upon consolidation. These financial statements are prepared by applying uniform accounting policies in use at the Group. Non-controlling interests which represent part of the net profit or loss and net assets of subsidiaries that are not, directly or indirectly, owned or controlled by the company, are excluded. Associates are entities over which the group has significant influence but not control. Investments in associates are accounted for using the equity method of accounting. The investment is initially recognized at cost, and the carrying amount is increased or decreased to recognize the investor’s share of the profit or loss of the investee after the acquisition date. The group’s investment in associates includes goodwill identified on acquisition. |
Use of estimates and judgements | 1.4 Use of estimates and judgements The preparation of the financial statements in conformity with IFRS requires management to make estimates, judgments and assumptions. These estimates, judgments and assumptions affect the application of accounting policies and the reported amounts of assets and liabilities, the disclosures of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the period. Application of accounting policies that require critical accounting estimates involving complex and subjective judgments and the use of assumptions in these financial statements have been disclosed in Note 1.5. Accounting estimates could change from period to period. Actual results could differ from those estimates. Appropriate changes in estimates are made as management becomes aware of changes in circumstances surrounding the estimates. Changes in estimates and judgments are reflected in the consolidated financial statements in the period in which changes are made and, if material, their effects are disclosed in the notes to the consolidated financial statements. |
Critical accounting estimates and judgements | 1.5 Critical accounting estimates and judgements a. Revenue recognition The group uses the percentage-of-completion method in accounting for its fixed-price contracts. Use of the percentage-of-completion method requires the group to estimate the efforts or costs expended to date as a proportion of the total efforts or costs to be expended. Efforts or costs expended have been used to measure progress towards completion as there is a direct relationship between input and productivity. Provisions for estimated losses, if any, on uncompleted contracts are recorded in the period in which such losses become probable based on the expected contract estimates at the reporting date. b. Income taxes The company's two major tax jurisdictions are India and the U.S., though the company also files tax returns in other overseas jurisdictions. Significant judgments are involved in determining the provision for income taxes, including amount expected to be paid/recovered for uncertain tax positions (Refer to Note 2.17). In assessing the realizability of deferred income tax assets, management considers whether some portion or all of the deferred income tax assets will not be realized. The ultimate realization of deferred income tax assets is dependent upon the generation of future taxable income during the periods in which the temporary differences become deductible. Management considers the scheduled reversals of deferred income tax liabilities, projected future taxable income and tax planning strategies in making this assessment. Based on the level of historical taxable income and projections for future taxable income over the periods in which the deferred income tax assets are deductible, management believes that the group will realize the benefits of those deductible differences. The amount of the deferred income tax assets considered realizable, however, could be reduced in the near term if estimates of future taxable income during the carry forward period are reduced. c. Business combinations and intangible assets Business combinations are accounted for using IFRS 3 (Revised), Business Combinations. IFRS 3 requires the identifiable intangible assets and contingent consideration to be fair valued in order to ascertain the net fair value of identifiable assets, liabilities and contingent liabilities of the acquiree. Significant estimates are required to be made in determining the value of contingent consideration and intangible assets. These valuations are conducted by independent valuation experts (Refer to Note 2.8 and 2.9). d. Property, plant and equipment Property, plant and equipment represent a significant proportion of the asset base of the Group. The charge in respect of periodic depreciation is derived after determining an estimate of an asset’s expected useful life and the expected residual value at the end of its life. The useful lives and residual values of the Group's assets are determined by management at the time the asset is acquired and reviewed periodically, including at each financial year end. The lives are based on historical experience with similar assets as well as anticipation of future events, which may impact their life, such as changes in technology (Refer to Note 2.7). e. Impairment of Goodwill Goodwill is tested for impairment on an annual basis and whenever there is an indication that the recoverable amount of a cash generating unit is less than its carrying amount based on a number of factors including operating results, business plans, future cash flows and economic conditions. The recoverable amount of cash generating units is determined based on higher of value-in-use and fair value less cost to sell. The goodwill impairment test is performed at the level of the cash-generating unit or groups of cash-generating units which are benefitting from the synergies of the acquisition and which represents the lowest level at which goodwill is monitored for internal management purposes. Market related information and estimates are used to determine the recoverable amount. Key assumptions on which management has based its determination of recoverable amount include estimated long term growth rates, weighted average cost of capital and estimated operating margins. Cash flow projections take into account past experience and represent management’s best estimate about future developments (Refer to Note 2.8). f. Disposal groups held for sale Assets and liabilities of disposal groups held for sale are measured at the lower of carrying amount and fair value less costs to sell. The determination of fair value less costs to sell includes use of management estimates and assumptions. The fair value of the disposal groups have been estimated using valuation techniques including income and market approach which includes unobservable inputs. In estimating the fair value, material events and developments, including progress on negotiations subsequent to Balance Sheet date, have been considered. (Refer to Note 2.9). |
Recent accounting pronouncements | 1.6 Recent accounting pronouncements 1.6.1 Standards issued but not yet effective IFRS 15 Revenue from Contract with Customers: In May 2014, the International Accounting Standards Board (IASB) issued IFRS 15, Revenue from Contract with Customers. The core principle of the new standard is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Further the new standard requires enhanced disclosures about the nature, amount, timing and uncertainty of revenue and cash flows arising from the entity’s contracts with customers. The standard permits two possible methods of transition: • Full retrospective approach - Under this approach the standard will be applied retrospectively to each prior reporting period presented in accordance with IAS 8- Accounting Policies, Changes in Accounting Estimates and Errors • Cumulative catch-up approach - Retrospectively with cumulative effect of initially applying the standard recognized at the date of initial application The effective date for adoption of IFRS 15 is annual periods beginning on or after January 1, 2018, though early adoption is permitted. On completion of evaluation of the effect of adoption of IFRS 15, the Group has decided to use the cumulative catch-up transition method and accordingly comparatives for the year ending or ended March 31, 2018 and March 31, 2017 will not be retrospectively adjusted. The effect on adoption of IFRS 15 is insignificant on the financial statements. IFRS 16 Leases : On January 13, 2016, the International Accounting Standards Board issued the final version of IFRS 16, Leases. IFRS 16 will replace the existing leases Standard, IAS 17 Leases, and related Interpretations. The Standard sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract i.e., the lessee and the lessor. IFRS 16 introduces a single lessee accounting model and requires a lessee to recognize assets and liabilities for all leases with a term of more than 12 months, unless the underlying asset is of low value. Currently, operating lease expenses are charged to the statement of comprehensive income. The Standard also contains enhanced disclosure requirements for lessees. IFRS 16 substantially carries forward the lessor accounting requirements in IAS 17. The effective date for adoption of IFRS 16 is annual periods beginning on or after January 1, 2019, though early adoption is permitted for companies applying IFRS 15 Revenue from Contracts with Customers. The Group is currently evaluating the requirements of IFRS 16 and the impact on the consolidated financial statements. IFRIC 22, Foreign currency transactions and Advance consideration: On December 8, 2016, the IFRS interpretations committee of the International Accounting Standards Board (IASB) issued IFRS interpretation, IFRIC 22, Foreign currency transactions and Advance consideration which clarifies the date of the transaction for the purpose of determining the exchange rate to use on initial recognition of the related asset, expense or income, when an entity has received or paid advance consideration in a foreign currency. The date of the transaction, for the purpose of determining the exchange rate, is the date of initial recognition of the non-monetary prepayment asset or deferred income liability. If there are multiple payments or receipts in advance, a date of transaction is established for each payment or receipt. The effective date for adoption of IFRIC 22 is annual reporting periods beginning on or after January 1, 2018, though early adoption is permitted. The Group has elected to adopt IFRIC 22 prospectively on April 1, 2018. The effect on account of adoption of IFRIC 22 on the financial statements is insignificant. IFRIC 23, Uncertainty over Income Tax Treatments : In June 2017, the International Accounting Standards Board (IASB) issued IFRS interpretation IFRIC 23 Uncertainty over Income Tax Treatments which is to be applied while performing the determination of taxable profit (or loss), tax bases, unused tax losses, unused tax credits and tax rates, when there is uncertainty over income tax treatments under IAS 12. According to IFRIC 23, companies need to determine the probability of the relevant tax authority accepting each tax treatment, or group of tax treatments, that the companies have used or plan to use in their income tax filing which has to be considered to compute the most likely amount or the expected value of the tax treatment when determining taxable profit (tax loss), tax bases, unused tax losses, unused tax credits and tax rates. The standard permits two possible methods of transition: Full retrospective approach – Under this approach, IFRIC 23 will be applied retrospectively to each prior reporting period presented in accordance with IAS 8 – Accounting Policies, Changes in Accounting Estimates and Errors. Retrospectively with cumulative effect of initially applying IFRIC 23 recognized by adjusting equity on initial application, without adjusting comparatives The effective date for adoption of IFRIC 23 is annual periods beginning on or after January 1, 2019, though early adoption is permitted. The Group is currently evaluating the effect of IFRIC 23 on the consolidated financial statements. Amendment to IAS 19 – Plan amendment, curtailment or settlement- On 7 February 2018, the IASB issued amendments to the guidance in IAS 19, ‘Employee Benefits’, in connection with accounting for plan amendments, curtailments and settlements. The amendments require an entity: • to use updated assumptions to determine current service cost and net interest for the remainder of the period after a plan amendment, curtailment or settlement; and • to recognise in profit or loss as part of past service cost, or a gain or loss on settlement, any reduction in a surplus, even if that surplus was not previously recognised because of the impact of the asset ceiling. Effective date for application of this amendment is annual period beginning on or after 1 January 2019, though early application is permitted. The Group is evaluating the effect of this amendment on the consolidated financial statements and the impact is not expected to be material. |
Provisions | 2.6 Provisions Accounting policy A provision is recognized if, as a result of a past event, the Group has a present legal or constructive obligation that is reasonably estimable, and it is probable that an outflow of economic benefits will be required to settle the obligation. Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. a. Post sales client support The group provides its clients with a fixed-period post-sales support for corrections of errors and support on all its fixed-price, fixed-timeframe contracts. Costs associated with such support services are accrued at the time related revenues are recorded and included in cost of sales. The group estimates such costs based on historical experience and estimates are reviewed on a periodic basis for any material changes in assumptions and likelihood of occurrence. b. Provisions for onerous contracts are recognized when the expected benefits to be derived by the Group from a contract are lower than the unavoidable costs of meeting the future obligations under the contract. The provision is measured at the present value of the lower of the expected cost of terminating the contract and the expected net cost of continuing with the contract. Before a provision is established the Group recognizes any impairment loss on the assets associated with that contract. |
Property, plant and equipment | 2.7 Property, plant and equipment Accounting policy Property, plant and equipment are stated at cost, less accumulated depreciation and impairment, if any. Costs directly attributable to acquisition are capitalized until the property, plant and equipment are ready for use, as intended by management. The group depreciates property, plant and equipment over their estimated useful lives using the straight-line method. The estimated useful lives of assets are as follows: Buildings 22 - 25 years Plant and machinery 5 years Computer equipment 3-5 years Furniture and fixtures 5 years Vehicles 5 years Leasehold improvements Over lease term Depreciation methods, useful lives and residual values are reviewed periodically, including at each financial year end. Advances paid towards the acquisition of property, plant and equipment outstanding at each balance sheet date and the cost of assets not ready to use before such date are disclosed under ‘Capital work-in-progress’. Subsequent expenditures relating to property, plant and equipment is capitalized only when it is probable that future economic benefits associated with these will flow to the Group and the cost of the item can be measured reliably. Repairs and maintenance costs are recognized in the statement of comprehensive income when incurred. The cost and related accumulated depreciation are eliminated from the financial statements upon sale or retirement of the asset and the resultant gains or losses are recognized in the statement of comprehensive income. Impairment Property, plant and equipment are evaluated for recoverability whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. For the purpose of impairment testing, the recoverable amount (i.e. the higher of the fair value less cost to sell and the value-in-use) is determined on an individual asset basis unless the asset does not generate cash flows that are largely independent of those from other assets. In such cases, the recoverable amount is determined for the CGU to which the asset belongs. If such assets are considered to be impaired, the impairment to be recognized in the statement of comprehensive income is measured by the amount by which the carrying value of the assets exceeds the estimated recoverable amount of the asset. An impairment loss is reversed in the statement of comprehensive income if there has been a change in the estimates used to determine the recoverable amount. The carrying amount of the asset is increased to its revised recoverable amount, provided that this amount does not exceed the carrying amount that would have been determined (net of any accumulated depreciation) had no impairment loss been recognized for the asset in prior years. |
Goodwill and intangible assets | 2.8 Goodwill and intangible assets 2.8.1 Goodwill Accounting policy Goodwill represents the cost of business acquisition in excess of the Group's interest in the net fair value of identifiable assets, liabilities and contingent liabilities of the acquiree. When the net fair value of the identifiable assets, liabilities and contingent liabilities acquired exceeds the cost of business acquisition, a gain is recognized immediately in the statement of comprehensive income. Goodwill is measured at cost less accumulated impairment losses. Impairment Goodwill is tested for impairment on an annual basis and whenever there is an indication that goodwill may be impaired, relying on a number of factors including operating results, business plans and future cash flows. For the purpose of impairment testing, goodwill acquired in a business combination is allocated to the Group's cash generating units (CGU) or groups of CGU’s expected to benefit from the synergies arising from the business combination. A CGU is the smallest identifiable group of assets that generates cash inflows that are largely independent of the cash inflows from other assets or group of assets. Impairment occurs when the carrying amount of a CGU including the goodwill, exceeds the estimated recoverable amount of the CGU. The recoverable amount of a CGU is the higher of its fair value less cost to sell and its value-in-use. Value-in-use is the present value of future cash flows expected to be derived from the CGU. Total impairment loss of a CGU is allocated first to reduce the carrying amount of goodwill allocated to the CGU and then to the other assets of the CGU pro-rata on the basis of the carrying amount of each asset in the CGU. An impairment loss on goodwill is recognized in the statement of comprehensive income and is not reversed in the subsequent period. 2.8.2 Intangible assets Accounting policy Intangible assets are stated at cost less accumulated amortization and impairment. Intangible assets are amortized over their respective individual estimated useful lives on a straight-line basis, from the date that they are available for use. The estimated useful life of an identifiable intangible asset is based on a number of factors including the effects of obsolescence, demand, competition, and other economic factors (such as the stability of the industry, and known technological advances. Amortization methods and useful lives are reviewed periodically including at each financial year end. Research costs are expensed as incurred. Software product development costs are expensed as incurred unless technical and commercial feasibility of the project is demonstrated, future economic benefits are probable, the Company has an intention and ability to complete and use or sell the software and the costs can be measured reliably. The costs which can be capitalized include the cost of material, direct labour, overhead costs that are directly attributable to preparing the asset for its intended use. Impairment Intangible assets are evaluated for recoverability whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. For the purpose of impairment testing, the recoverable amount (i.e. the higher of the fair value less cost to sell and the value-in-use) is determined on an individual asset basis unless the asset does not generate cash flows that are largely independent of those from other assets. In such cases, the recoverable amount is determined for the CGU to which the asset belongs. If such assets are considered to be impaired, the impairment to be recognized in the statement of comprehensive income is measured by the amount by which the carrying value of the assets exceeds the estimated recoverable amount of the asset. An impairment loss is reversed in the statement of comprehensive income if there has been a change in the estimates used to determine the recoverable amount. The carrying amount of the asset is increased to its revised recoverable amount, provided that this amount does not exceed the carrying amount that would have been determined (net of any accumulated amortization) had no impairment loss been recognized for the asset in prior years. |
Business combinations and Disposal group held for sale | Accounting Policy: Business combinations have been accounted for using the acquisition method under the provisions of IFRS 3 (Revised), Business Combinations. The cost of an acquisition is measured at the fair value of the assets transferred, equity instruments issued and liabilities incurred or assumed at the date of acquisition, which is the date on which control is transferred to the Group. The cost of acquisition also includes the fair value of any contingent consideration. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair value on the date of acquisition. Business combinations between entities under common control is outside the scope of IFRS 3 (Revised), Business Combinations and is accounted for at carrying value. Transaction costs that the Group incurs in connection with a business combination such as finders’ fees, legal fees, due diligence fees, and other professional and consulting fees are expensed as incurred. |
Disposal group held for sale | Accounting policy Non-current assets and disposal groups are classified as held for sale if their carrying amount is intended to be recovered principally through sale rather than through continuing use. The condition for classification of held for sale is met when the non-current asset or the disposal group is available for immediate sale and the same is highly probable of being completed within one year from the date of classification as held for sale. Non-current assets and disposal groups held for sale are measured at the lower of carrying amount and fair value less cost to sell. In estimating the fair value, material events and developments, including progress on negotiations subsequent to Balance Sheet date, have been considered. |
Revenue from operations | 2.10 Revenue from operations Accounting policy The Group derives revenues primarily from software development and related services and from the licensing of software products. Arrangements with customers for software related services are mainly either on a fixed-price, fixed-timeframe or on a time-and-material basis. Revenue on time-and-material contracts are recognized as the related services are performed and revenue from the end of the last billing to the balance sheet date is recognized as unbilled revenues. Revenue from fixed-price, fixed-timeframe contracts, where there is no uncertainty as to measurement or collectability of consideration, is recognized as per the percentage-of-completion method. When there is uncertainty as to measurement or ultimate collectability, revenue recognition is postponed until such uncertainty is resolved. Efforts or costs expended have been used to measure progress towards completion as there is a direct relationship between input and productivity. Provisions for estimated losses, if any, on uncompleted contracts are recorded in the period in which such losses become probable based on the current contract estimates. Costs and earnings in excess of billings are classified as unbilled revenue while billings in excess of costs and earnings are classified as unearned revenue. Deferred contract costs are amortized over the term of the contract. Maintenance revenue is recognized ratably over the term of the underlying maintenance arrangement. In arrangements for software development and related services and maintenance services, the Group has applied the guidance in IAS 18, Revenue, by applying the revenue recognition criteria for each separately identifiable component of a single transaction. The arrangements generally meet the criteria for considering software development and related services as separately identifiable components. For allocating the consideration, the Group has measured the revenue in respect of each separable component of a transaction at its fair value, in accordance with principles given in IAS 18. The price that is regularly charged for an item when sold separately is the best evidence of its fair value. In cases where the Group is unable to establish objective and reliable evidence of fair value for the software development and related services, the Group has used a residual method to allocate the arrangement consideration. In these cases, the balance of the consideration, after allocating the fair values of undelivered components of a transaction has been allocated to the delivered components for which specific fair values do not exist. License fee revenues are recognized when the general revenue recognition criteria given in IAS 18 are met. Arrangements to deliver software products generally have three elements: license, implementation and Annual Technical Services (ATS). The Group has applied the principles given in IAS 18 to account for revenues from these multiple element arrangements. Objective and reliable evidence of fair value has been established for ATS. Objective and reliable evidence of fair value is the price charged when the element is sold separately. When other services are provided in conjunction with the licensing arrangement and objective and reliable evidence of their fair values have been established, the revenue from such contracts are allocated to each component of the contract in a manner, whereby revenue is deferred for the undelivered services and the residual amounts are recognized as revenue for delivered elements. In the absence of objective and reliable evidence of fair value for implementation, the entire arrangement fee for license and implementation is recognized using the percentage-of-completion method as the implementation is performed. Revenue from client training, support and other services arising due to the sale of software products is recognized as the services are performed. ATS revenue is recognized rateably over the period in which the services are rendered. Advances received for services and products are reported as client deposits until all conditions for revenue recognition are met. The Group accounts for volume discounts and pricing incentives to customers as a reduction of revenue based on the ratable allocation of the discounts/ incentives amount to each of the underlying revenue transaction that results in progress by the customer towards earning the discount/ incentive. Also, when the level of discount varies with increases in levels of revenue transactions, the Group recognizes the liability based on its estimate of the customer's future purchases. If it is probable that the criteria for the discount will not be met, or if the amount thereof cannot be estimated reliably, then discount is not recognized until the payment is probable and the amount can be estimated reliably. The Group recognizes changes in the estimated amount of obligations for discounts in the period in which the change occurs. The discounts are passed on to the customer either as direct payments or as a reduction of payments due from the customer. The Group presents revenues net of indirect taxes in its statement of comprehensive income. |
Operating profit | Operating profit Operating profit for the Group is computed considering the revenues, net of cost of sales, selling and marketing expenses and administrative expenses. |
Employee benefits | 2.12 Employee benefits Accounting policy Gratuity The Group provides for gratuity, a defined benefit retirement plan ('the Gratuity Plan') covering eligible employees of Infosys and its Indian subsidiaries. The Gratuity Plan provides a lump-sum payment to vested employees at retirement, death, incapacitation or termination of employment, of an amount based on the respective employee's salary and the tenure of employment with the Group. Liabilities with regard to the Gratuity Plan are determined by actuarial valuation, performed by an independent actuary, at each balance sheet date using the projected unit credit method. The Company fully contributes all ascertained liabilities to the Infosys Limited Employees' Gratuity Fund Trust (the Trust). In case of Infosys BPM and EdgeVerve, contributions are made to the Infosys BPM Limited Employees' Gratuity Fund Trust and EdgeVerve Systems Limited Employees' Gratuity Fund Trust, respectively. Trustees administer contributions made to the Trusts and contributions are invested in a scheme with Life Insurance Corporation of India as permitted by Indian law. The Group recognizes the net obligation of a defined benefit plan in its balance sheet as an asset or liability. Gains and losses through re-measurements of the net defined benefit liability / asset are recognized in other comprehensive income and not reclassified to profit or loss in subsequent period. The actual return of the portfolio of plan assets, in excess of the yields computed by applying the discount rate used to measure the defined benefit obligation is recognized in other comprehensive income. The effect of any plan amendments are recognized in net profits in the statement of comprehensive income. Provident fund Eligible employees of Infosys receive benefits from a provident fund, which is a defined benefit plan. Both the eligible employee and the company make monthly contributions to the provident fund plan equal to a specified percentage of the covered employee's salary. The company contributes a portion of the contributions to the Infosys Limited Employees' Provident Fund Trust. The trust invests in specific designated instruments as permitted by Indian law. The remaining portion is contributed to the government administered pension fund. The rate at which the annual interest is payable to the beneficiaries by the trust is being administered by the government. The company has an obligation to make good the shortfall, if any, between the return from the investments of the Trust and the notified interest rate. In respect of Indian subsidiaries, eligible employees receive benefits from a provident fund, which is a defined contribution plan. Both the eligible employee and the respective companies make monthly contributions to this provident fund plan equal to a specified percentage of the covered employee's salary. Amounts collected under the provident fund plan are deposited in a government administered provident fund. The companies have no further obligation to the plan beyond their monthly contributions. Superannuation Certain employees of Infosys, Infosys BPM and EdgeVerve are participants in a defined contribution plan. The Group has no further obligations to the Plan beyond its monthly contributions which are periodically contributed to a trust fund, the corpus of which is invested with the Life Insurance Corporation of India. Compensated absences The Group has a policy on compensated absences which are both accumulating and non-accumulating in nature. The expected cost of accumulating compensated absences is determined by actuarial valuation performed by an independent actuary at each balance sheet date using projected unit credit method on the additional amount expected to be paid/availed as a result of the unused entitlement that has accumulated at the balance sheet date. Expense on non-accumulating compensated absences is recognized in the period in which the absences occur. |
Equity | Accounting policy (i) Ordinary Shares Ordinary shares are classified as equity. Incremental costs directly attributable to the issuance of new ordinary shares, share options and buyback are recognized as a deduction from equity, net of any tax effects. (ii) Treasury Shares When any entity within the Group purchases the company's ordinary shares, the consideration paid including any directly attributable incremental cost is presented as a deduction from total equity, until they are cancelled, sold or reissued. When treasury shares are sold or reissued subsequently, the amount received is recognized as an increase in equity, and the resulting surplus or deficit on the transaction is transferred to/ from share premium |
Dividends | 2.13.2 Dividends Final dividends on shares are recorded as a liability on the date of approval by the shareholders and interim dividends are recorded as a liability on the date of declaration by the company's Board of Directors. |
Other income, net | 2.14 Other income, net Accounting policy Other income is comprised primarily of interest income, dividend income, gain/loss on investments and exchange gain/loss on forward and options contracts and on translation of other assets and liabilities. Interest income is recognized using the effective interest method. Dividend income is recognized when the right to receive payment is established. |
Functional currency and presentation currency | Functional currency and presentation currency The functional currency of Infosys, Infosys BPM, EdgeVerve, Skava and controlled trusts is the Indian rupee. The functional currencies for foreign subsidiaries are their respective local currencies. These financial statements are presented in U.S. dollars (rounded off to the nearest million) to facilitate the investors’ ability to evaluate Infosys’ performance and financial position in comparison to similar companies domiciled in other geographic locations. Transactions and translations Foreign-currency denominated monetary assets and liabilities are translated into the relevant functional currency at exchange rates in effect at the balance sheet date. The gains or losses resulting from such translations are included in the statement of comprehensive income. Non-monetary assets and non-monetary liabilities denominated in a foreign currency and measured at fair value are translated at the exchange rate prevalent at the date when the fair value was determined. Non-monetary assets and non-monetary liabilities denominated in a foreign currency and measured at historical cost are translated at the exchange rate prevalent at the date of transaction. Transaction gains or losses realized upon settlement of foreign currency transactions are included in determining net profit for the period in which the transaction is settled. Revenue, expense and cash-flow items denominated in foreign currencies are translated into the relevant functional currencies using the exchange rate in effect on the date of the transaction. The translation of financial statements of the entities of the group from functional currency to the presentation currency is performed for assets and liabilities using the exchange rate in effect at the balance sheet date and for revenue, expense and cash-flow items using the average exchange rate for the respective periods. The gains or losses resulting from such translation are included in currency translation reserves under other components of equity. When a subsidiary is disposed of, in full, the relevant amount is transferred to the statement of comprehensive income. However, when a change in the parent's ownership does not result in loss of control of a subsidiary, such changes are recorded through equity. Goodwill and fair value adjustments arising on the acquisition of a foreign entity are treated as assets and liabilities of the foreign entity and translated at the exchange rate in effect at the balance sheet date. |
Government grants | Government grants The Group recognizes government grants only when there is reasonable assurance that the conditions attached to them shall be complied with, and the grants will be received. Government grants related to assets are treated as deferred income and are recognized in the statement of comprehensive income on a systematic and rational basis over the useful life of the asset. Government grants related to revenue are recognized on a systematic basis in the statement of comprehensive income over the periods necessary to match them with the related costs which they are intended to compensate. |
Leases | 2.15 Leases Accounting policy Leases under which the group assumes substantially all the risks and rewards of ownership are classified as finance leases. When acquired, such assets are capitalized at fair value or present value of the minimum lease payments at the inception of the lease, whichever is lower. Lease payments under operating leases are recognized as an expense on a straight line basis in the statement of comprehensive income over the lease term. |
Employees' Stock Option Plans (ESOP) | 2.16 Employees' Stock Option Plans (ESOP) Accounting policy The Group recognizes compensation expense relating to share-based payments in net profit using fair-value in accordance with IFRS 2, Share-Based Payment. The estimated fair value of awards is charged to income on a straight-line basis over the requisite service period for each separately vesting portion of the award as if the award was in-substance, multiple awards with a corresponding increase to share premium. Amendment to IFRS 2: Effective April 1, 2017, the Group has early adopted amendment to IFRS 2 which provides specific guidance to measurement of cash-settled awards, modification of cash-settled awards and awards that include a net settlement feature in respect of withholding taxes. The adoption of the amendment did not have any material effect on the consolidated financial statements. |
Income taxes | 2.17 Income taxes Accounting policy Income tax expense comprises current and deferred income tax. Income tax expense is recognized in the statement of comprehensive income except to the extent that it relates to items recognized directly in equity, in which case it is recognized in other comprehensive income. Current income tax for current and prior periods is recognized at the amount expected to be paid to or recovered from the tax authorities, using the tax rates and tax laws that have been enacted or substantively enacted by the balance sheet date. Deferred income tax assets and liabilities are recognized for all temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements except when the deferred income tax arises from the initial recognition of goodwill or an asset or liability in a transaction that is not a business combination and affects neither accounting nor taxable profit or loss at the time of the transaction. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realized. Deferred income tax assets and liabilities are measured using tax rates and tax laws that have been enacted or substantively enacted by the balance sheet date and are expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect of changes in tax rates on deferred income tax assets and liabilities is recognized as income or expense in the period that includes the enactment or the substantive enactment date. A deferred income tax asset is recognized to the extent that it is probable that future taxable profit will be available against which the deductible temporary differences and tax losses can be utilized. Deferred income taxes are not provided on the undistributed earnings of subsidiaries and branches where it is expected that the earnings of the subsidiary or branch will not be distributed in the foreseeable future. The group offsets current tax assets and current tax liabilities, where it has a legally enforceable right to set off the recognized amounts and where it intends either to settle on a net basis, or to realize the asset and settle the liability simultaneously. Tax benefits of deductions earned on exercise of employee share options in excess of compensation charged to income are credited to share premium. |
Consolidated Statements of Cash Flows | Consolidated Statements of Cash Flows Accounting policy Cash flows are reported using the indirect method, whereby profit for the year is adjusted for the effects of transactions of a non-cash nature, any deferrals or accruals of past or future operating cash receipts or payments and item of income or expenses associated with investing or financing cash flows. The cash flows from operating, investing and financing activities of the Group are segregated. The Group considers all highly liquid investments that are readily convertible to known amounts of cash to be cash equivalents. Amendment to IAS 7: Effective April 1, 2017, the Group adopted the amendment to IAS 7, which require the entities to provide disclosures that enable users of financial statements to evaluate changes in liabilities arising from financing activities, including both changes arising from cash flows and non-cash changes, suggesting inclusion of a reconciliation between the opening and closing balances in the Balance Sheet for liabilities arising from financing activities, to meet the disclosure requirement. The adoption of amendment did not have any material impact on the consolidated financial statements. |
Accounting policy on financial instruments | Accounting policy Effective April 1, 2016, the group has elected to early adopt IFRS 9 - Financial Instruments considering April 1, 2015 as the date of initial application of the standard even though the stipulated effective date for adoption is April 1, 2018. The group has classified its financial assets into the following categories based on the business model for managing those assets and the contractual cash flow characteristics: • Financial assets carried at amortized cost • Financial assets fair valued through other comprehensive income • Financial assets fair valued through profit and loss The adoption of IFRS 9 did not have any other material impact on the consolidated financial statements, hence prior period figures have not been restated and the cumulative impact of $5 million has been recorded in other comprehensive income for the year ended March 31, 2017. 2.3.1 Initial recognition The group recognizes financial assets and financial liabilities when it becomes a party to the contractual provisions of the instrument. All financial assets and liabilities are recognized at fair value on initial recognition, except for trade receivables which are initially measured at transaction price. Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities that are not at fair value through profit or loss are added to the fair value on initial recognition. Regular way purchase and sale of financial assets are accounted for at trade date. 2.3.2 Subsequent measurement a. Non-derivative financial instruments (i) Financial assets carried at amortized cost A financial asset is subsequently measured at amortized cost if it is held within a business model whose objective is to hold the asset in order to collect contractual cash flows and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. (ii) Financial assets at fair value through other comprehensive income (FVOCI) A financial asset is subsequently measured at fair value through other comprehensive income if it is held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. The Group has made an irrevocable election for its investments which are classified as equity instruments to present the subsequent changes in fair value in other comprehensive income based on its business model. (iii) Financial assets at fair value through profit or loss (FVTPL) A financial asset which is not classified in any of the above categories are subsequently fair valued through profit or loss. (iv) Financial liabilities Financial liabilities are subsequently carried at amortized cost using the effective interest method, except for contingent consideration recognized in a business combination which is subsequently measured at fair value through profit or loss. For trade and other payables maturing within one year from the balance sheet date, the carrying amounts approximate fair value due to the short maturity of these instruments. b. Derivative financial instruments The Group holds derivative financial instruments such as foreign exchange forward and option contracts to mitigate the risk of changes in exchange rates on foreign currency exposures. The counterparty for these contracts is generally a bank. (i) Financial assets or financial liabilities, at fair value through profit or loss This category includes derivative financial assets or liabilities which are not designated as hedges. Although the group believes that these derivatives constitute hedges from an economic perspective, they may not qualify for hedge accounting under IFRS 9, Financial Instruments. Any derivative that is either not designated a hedge, or is so designated but is ineffective as per IFRS 9, is categorized as a financial asset or financial liability, at fair value through profit or loss. Derivatives not designated as hedges are recognized initially at fair value and attributable transaction costs are recognized in the statement of comprehensive income when incurred. Subsequent to initial recognition, these derivatives are measured at fair value through profit or loss and the resulting exchange gains or losses are included in other income. Assets/ liabilities in this category are presented as current assets/current liabilities if they are either held for trading or are expected to be realized within 12 months after the balance sheet date. (ii) Cash flow hedge The group designates certain foreign exchange forward and options contracts as cash flow hedges to mitigate the risk of foreign exchange exposure on highly probable forecast cash transactions. When a derivative is designated as a cash flow hedging instrument, the effective portion of changes in the fair value of the derivative is recognized in other comprehensive income and accumulated in the cash flow hedging reserve. Any ineffective portion of changes in the fair value of the derivative is recognized immediately in the statement of comprehensive income. If the hedging instrument no longer meets the criteria for hedge accounting, then hedge accounting is discontinued prospectively. If the hedging instrument expires or is sold, terminated or exercised, the cumulative gain or loss on the hedging instrument recognized in cash flow hedging reserve till the period the hedge was effective remains in cash flow hedging reserve until the forecasted transaction occurs. The cumulative gain or loss previously recognized in the cash flow hedging reserve is transferred to the statement of comprehensive income upon the occurrence of the related forecasted transaction. If the forecasted transaction is no longer expected to occur, then the amount accumulated in cash flow hedging reserve is reclassified to the statement of comprehensive income. |
Derecognition of financial instruments | 2.3.3 Derecognition of financial instruments The Group derecognizes a financial asset when the contractual rights to the cash flows from the financial asset expire or it transfers the financial asset and the transfer qualifies for derecognition under IFRS 9. A financial liability (or a part of a financial liability) is derecognized from the group's balance sheet when the obligation specified in the contract is discharged or cancelled or expires. |
Fair value of financial instruments | 2.3.4 Fair value of financial instruments In determining the fair value of its financial instruments, the Group uses a variety of methods and assumptions that are based on market conditions and risks existing at each reporting date. The methods used to determine fair value include discounted cash flows, available quoted market prices and dealer quotes. All methods of assessing fair value result in general approximation of value, and such value may never actually be realized. Refer ‘Financial instruments by category’ below for the disclosure on carrying value and fair value of financial assets and liabilities. For financial assets and liabilities maturing within one year from the balance sheet date and which are not carried at fair value, the carrying amounts approximate fair value due to the short maturity of these instruments. |
Impairment | 2.3.5 Impairment The Group recognizes loss allowances using the expected credit loss (ECL) model for the financial assets which are not fair valued through profit or loss. Loss allowance for trade receivables with no significant financing component is measured at an amount equal to lifetime ECL. For all other financial assets, expected credit losses are measured at an amount equal to the 12-month ECL, unless there has been a significant increase in credit risk from initial recognition in which case those are measured at lifetime ECL. The amount of expected credit losses (or reversal) that is required to adjust the loss allowance at the reporting date to the amount that is required to be recognized is recognized as an impairment gain or loss in statement of comprehensive income. |
Earnings per equity share | Accounting policy Basic earnings per equity share is computed by dividing the net profit attributable to the equity holders of the company by the weighted average number of equity shares outstanding during the period. Diluted earnings per equity share is computed by dividing the net profit attributable to the equity holders of the company by the weighted average number of equity shares considered for deriving basic earnings per equity share and also the weighted average number of equity shares that could have been issued upon conversion of all dilutive potential equity shares. The dilutive potential equity shares are adjusted for the proceeds receivable had the equity shares been actually issued at fair value (i.e. the average market value of the outstanding equity shares). Dilutive potential equity shares are deemed converted as of the beginning of the period, unless issued at a later date. Dilutive potential equity shares are determined independently for each period presented. The number of equity shares and potentially dilutive equity shares are adjusted retrospectively for all periods presented for any share splits and bonus shares issues including for changes effected prior to the approval of the financial statements by the Board of Directors. |
Cash and Cash Equivalents (Tabl
Cash and Cash Equivalents (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Cash And Cash Equivalents [Abstract] | |
Summary of Cash and Cash Equivalent | Cash and cash equivalents consist of the following: (Dollars in millions) As of March 31, 2018 March 31, 2017 Cash and bank deposits 2,021 2,296 Deposits with financial institutions 1,020 1,193 3,041 3,489 Cash and cash equivalents included under assets classified as held for sale (Refer note no 2.9) 8 — 3,049 3,489 The table below provides details of cash and cash equivalents: (Dollars in millions) As of March 31, 2018 March 31, 2017 Current accounts ANZ Bank, Taiwan 1 – Banamex Bank, Mexico (U.S. Dollar account) 2 1 Bank of America, USA 180 159 Bank of America, Mexico 4 8 Bank of Zachodni WBK S.A., Poland 3 1 Barclays Bank, UK 6 – Bank Leumi, Israel (Israeli Sheqel account) – 2 BNP Paribas Bank, Norway 14 3 China Merchants Bank, China 1 1 Citibank N.A., Australia 34 3 Citibank N.A., Brazil 2 5 Citibank N.A., China 18 10 Citibank N.A., China (U.S. Dollar account) 1 2 Citibank N.A., Costa Rica – 1 Citibank N.A., Dubai 1 – Citibank N.A., EEFC (U.S. Dollar account) 1 – Citibank N.A., Hungary 1 – Citibank N.A., Japan 3 2 Citibank N.A., New Zealand 2 2 Citibank N.A., Portugal 1 – Citibank N.A., Singapore 1 – Citibank N.A., South Africa 5 2 Citibank N.A., USA 1 12 Commerzbank, Germany – 3 Deutsche Bank, Belgium 4 2 Deutsche Bank, Malaysia 1 1 Deutsche Bank, Czech Republic 2 1 Deutsche Bank, Czech Republic (Euro account) 1 1 Deutsche Bank, Czech Republic (U.S. dollar account) – 5 Deutsche Bank, France 3 1 Deutsche Bank, Germany 16 8 Deutsche Bank, India 7 2 Deutsche Bank, Netherlands 2 – Deutsche Bank, Philippines 4 1 Deutsche Bank, Philippines (U.S. dollar account) 1 1 Deutsche Bank, Poland (PLN account) 3 2 Deutsche Bank, Poland (Euro account) 1 1 Deutsche Bank, Russia 1 – Deutsche Bank, Russia (U.S. dollar account) 1 – Deutsche Bank, Singapore 3 1 Deutsche Bank, Switzerland 5 1 Deutsche Bank, United Kingdom 12 4 Deutsche Bank-EEFC (Australian Dollar account) – 6 Deutsche Bank-EEFC (Euro account) 5 4 Deutsche Bank-EEFC (U.S. dollar account) 5 12 Deutsche Bank-EEFC, India (United Kingdom Pound Sterling account) 1 2 Deutsche Bank, USA – 2 ICICI Bank 8 8 ICICI Bank-EEFC, India (U.S. dollar account) 6 1 ICICI Bank-EEFC, (United Kingdom pound sterling account) 2 – HSBC Bank, United Kingdom 1 – ICICI Bank - Unpaid dividend account 3 2 Nordbanken, Sweden 8 5 Raiffeisen Bank, Czech Republic 1 1 Raiffeisen Bank, Romania – 1 Royal Bank of Canada, Canada 26 13 State Bank of India, India – 1 Punjab National Bank, India 2 1 Silicon Valley Bank, USA – 1 Silicon Valley Bank (Euro account) – 3 Splitska Banka D.D., Societe Generale Group, Croatia 1 – Union Bank of Switzerland, AG (Euro account) – 1 Wells Fargo Bank N.A., USA – 5 418 318 Deposit accounts Axis Bank, India – 181 Bank BGZ BNP Paribas S.A 22 28 Barclays Bank 31 127 Canara Bank, India 36 40 Citibank, India 35 26 Deutsche Bank, AG 4 – Deutsche Bank, Poland 32 11 HDFC Bank, India 383 72 HSBC Bank – 77 ICICI Bank, India 568 751 IDBI Bank, India 38 270 IDFC Bank 230 31 Indusind Bank, India 154 29 Kotak Mahindra Bank, India – 83 South Indian Bank, India 69 69 Standard Chartered Bank – 77 Syndicate Bank, India – 8 Yes Bank, India 1 98 1,603 1,978 Deposits with financial institution HDFC Limited, India 836 1,085 LIC Housing Finance Limited 184 108 1,020 1,193 Total 3,041 3,489 |
Investments - (Tables)
Investments - (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Investments Other Than Investments Accounted For Using Equity Method [Abstract] | |
Schedule of Carrying Value of Investments | The carrying value of investments are as follows: (Dollars in millions) As of March 31, 2018 March 31, 2017 Current investments Amortized cost: Quoted debt securities Cost – 2 Fair value through profit and loss: Liquid mutual funds Fair value 12 278 Fixed maturity plan securities Fair value – 23 Fair Value through Other comprehensive income: Quoted debt securities Fair value 117 16 Commercial paper Fair value 45 – Certificates of deposit Fair value 808 1,219 982 1,538 Non-Current investments Amortized cost: Quoted debt securities Cost 291 293 Fair value through Other comprehensive income: Quoted debt securities Fair value 493 597 Unquoted equity and preference securities Fair value 21 25 Fair value through profit and loss: Unquoted convertible promissory note Fair value 2 1 Fixed maturity plan securities Fair value 66 63 Others: Fair value 10 5 883 984 Total Investments 1,865 2,522 Investment carried at amortized cost 291 295 Investments carried at fair value through other comprehensive income 1,484 1,857 Investments carried at fair value through profit and loss 90 370 Note: Uncalled capital commitments outstanding as of March 31, 2018 and March 31, 2017 was $12 million and $18 million, respectively. |
Schedule of Amounts Recorded in Other Comprehensive Income | Details of amounts recorded in other comprehensive income: (Dollars in millions) Net gain / (loss) on Year ended March 31, 2018 Gross Tax Net Quoted debt securities (2 ) – (2 ) Certificate of deposits 3 (1 ) 2 Unquoted equity and preference securities 1 – 1 Net gain / (loss) on Year ended March 31, 2017 Gross Tax Net Quoted debt securities (1 ) – (1 ) Certificate of deposits (1 ) – (1 ) Unquoted equity and preference securities (1 ) – (1 ) Net gain / (loss) on Year ended March 31, 2016 Gross Tax Net Quoted debt securities 7 (1 ) 6 |
Schedule of Method of Fair Valuation | Method of fair valuation: (Dollars in millions) Fair value As at March 31 Class of investment Method 2018 2017 Liquid mutual funds Quoted price 12 278 Fixed Maturity Plan securities Market observable inputs 66 86 Quoted debt securities- carried at amortized cost Quoted price and market observable inputs 330 334 Quoted debt securities- carried at Fair value through other comprehensive income Quoted price and market observable inputs 610 613 Commercial paper Market observable inputs 45 – Certificate of deposits Market observable inputs 808 1,219 Unquoted equity and preference securities Discounted cash flows method, Market multiples method, Option pricing model 21 25 Unquoted convertible promissory note Discounted cash flows method, Market multiples method, Option pricing model 2 1 Others Discounted cash flows method, Market multiples method, Option pricing model 10 5 1,904 2,561 Note: Certain quoted investments are classified as Level 2 in the absence of active market for such investments. |
Financial Instruments (Tables)
Financial Instruments (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Financial Instruments [Abstract] | |
Schedule of Carrying Value and Fair Value of Financial Instruments by Categories | Financial instruments by category The carrying value and fair value of financial instruments by categories as of March 31, 2018 were as follows: (Dollars in millions) Amortised cost Financial assets/ liabilities at fair value through profit or loss Financial assets/liabilities at fair value through OCI Total carrying value Total fair value Designated upon initial recognition Mandatory Equity instruments designated upon initial recognition Mandatory Assets: Cash and cash equivalents (Refer to Note 2.1) 3,041 – – – – 3,041 3,041 Investments (Refer Note 2.2) Liquid mutual funds – – 12 – – 12 12 Fixed maturity plan securities – – 66 – – 66 66 Quoted debt securities 291 – – – 610 901 940 (1) Certificates of deposit – – – – 808 808 808 Commercial paper – – – – 45 45 45 Unquoted equity and preference securities – – – 21 – 21 21 Unquoted investments others – – 10 – – 10 10 Unquoted convertible promissory note – – 2 – – 2 2 Trade receivables 2,016 – – – – 2,016 2,016 Unbilled revenues 654 – – – – 654 654 Prepayments and other assets (Refer to Note 2.4) 456 – – – – 456 443 (2) Derivative financial instruments – – – – 2 2 2 Total 6,458 – 90 21 1,465 8,034 8,060 Liabilities: Trade payables 107 – – – – 107 107 Derivative financial instruments – – 6 – – 6 6 Other liabilities including contingent consideration (Refer note 2.5) 836 – 8 – – 844 844 Total 943 – 14 – – 957 957 (1) On account of fair value changes including interest accrued (2) Excludes interest accrued on quoted debt securities carried at amortized cost The carrying value and fair value of financial instruments by categories as of March 31, 2017 were as follows: (Dollars in millions) Amortised cost Financial assets/ liabilities at fair value through profit or loss Financial assets/liabilities at fair value through OCI Total carrying value Total fair value Designated upon initial recognition Mandatory Equity instruments designated upon initial recognition Mandatory Assets: Cash and cash equivalents (Refer to Note 2.1) 3,489 – – – – 3,489 3,489 Investments (Refer Note 2.2) Liquid mutual funds – – 278 – – 278 278 Fixed maturity plan securities – – 86 – – 86 86 Quoted debt securities 295 – – – 613 908 947 (1) Certificates of deposit – – – – 1,219 1,219 1,219 Unquoted equity and preference securities: – – – 25 – 25 25 Unquoted investments others – – 5 – – 5 5 Unquoted convertible promissory note: – – 1 – – 1 1 Trade receivables 1,900 – – – – 1,900 1,900 Unbilled revenues 562 – – – – 562 562 Prepayments and other assets (Refer to Note 2.4) 410 – – – – 410 397 (2) Derivative financial instruments – – 36 – 8 44 44 Total 6,656 – 406 25 1,840 8,927 8,953 Liabilities: Trade payables 57 – – – – 57 57 Other liabilities including contingent consideration 768 – 13 – – 781 781 Total 825 – 13 – – 838 838 (1) On account of fair value changes including interest accrued (2) Excludes interest accrued on quoted debt securities carried at amortized cost |
Schedule of Fair Value Hierarchy of Assets and Liabilities | Fair value hierarchy of assets and liabilities as of March 31, 2018: (Dollars in millions) As of March 31, 2018 Fair value measurement at end of the reporting year using Level 1 Level 2 Level 3 Assets Investments in liquid mutual fund units (Refer to Note 2.2) 12 12 – – Investments in fixed maturity plans (Refer Note 2.2) 66 – 66 – Investments in quoted debt securities (Refer to Note 2.2) 940 701 239 – Investments in certificate of deposit (Refer Note 2.2) 808 – 808 – Investments in commercial paper (Refer Note 2.2) 45 – 45 – Investments in unquoted equity and preference securities (Refer to Note 2.2) 21 – – 21 Investment in unquoted investments others (Refer Note 2.2) 10 – – 10 Investments in unquoted convertible promissory note (Refer to Note 2.2) 2 – – 2 Derivative financial instruments- gain on outstanding foreign exchange forward and option contracts 2 – 2 – Liabilities Derivative financial instruments- loss on outstanding foreign exchange forward and option contracts 6 – 6 – Liability towards contingent consideration (Refer note 2.5)* 8 – – 8 * Includes $3 million pertaining to Brilliant Basics discounted at 10%. Fair value hierarchy of assets and liabilities as of March 31, 2017: (Dollars in millions) As of March 31, 2017 Fair value measurement at end of the reporting period using Level 1 Level 2 Level 3 Assets Investments in liquid mutual fund units (Refer to Note 2.2) 278 278 – – Investments in fixed maturity plans (Refer Note 2.2) 86 – 86 – Investments in quoted debt securities (Refer to Note 2.2) 947 565 382 – Investments in certificate of deposit (Refer Note 2.2) 1,219 – 1,219 – Investments in unqouted equity and preference securities (Refer to Note 2.2) 25 – – 25 Investment in unquoted investments others (Refer Note 2.2) 5 – – 5 Investments in unqouted convertible promissory note (Refer to Note 2.2) 1 – – 1 Derivative financial instruments- gain on outstanding foreign exchange forward and option contracts 44 – 44 – Liabilities Liability towards contingent consideration (Refer note 2.5)* 13 – – 13 * Discounted $14 million at 14.2%. |
Summary of Income from Financial Assets or Liabilities | Income from financial assets (Dollars in millions) Year ended March 31, 2018 2017 2016 Interest income on financial assets carried at amortized cost 260 352 402 Interest income on financial assets fair valued through other comprehensive income 106 28 – Dividend income on investments carried at fair value through profit or loss 1 4 10 Gain / (loss) on investments carried at fair value through profit or loss 39 18 – 406 402 412 |
Schedule of Analysis of Foreign Currency Risk from Financial Instruments | The following table analyzes foreign currency risk from financial instruments as of March 31, 2018: (Dollars in millions) U.S. dollars Euro United Kingdom Pound Sterling Australian dollars Other currencies Total Cash and cash equivalents 197 33 23 54 183 490 Trade receivables 1,276 269 129 121 120 1,915 Unbilled revenues 356 98 46 24 57 581 Other assets 49 4 4 2 15 74 Trade payables (42) (12) (17) (5) (9) (85) Accrued expenses (166) (29) (17) (9) (23) (244) Employee benefit obligations (88) (13) (4) (28) (20) (153) Other liabilities (97) (21) (12) (5) (49) (184) Net assets / (liabilities) 1,485 329 152 154 274 2,394 The following table analyzes foreign currency risk from financial instruments as of March 31, 2017: (Dollars in millions) U.S. dollars Euro United Kingdom Pound Sterling Australian dollars Other currencies Total Cash and cash equivalents 206 20 6 28 108 368 Trade receivables 1,287 192 119 87 108 1,793 Unbilled revenues 376 68 50 19 47 560 Other assets 65 15 7 6 15 108 Trade payables (18) (5) (2) (1) (24) (50) Accrued expenses (147) (33) (22) (6) (23) (231) Employee benefit obligations (86) (13) (3) (23) (19) (144) Other liabilities (96) (17) (7) (3) (43) (166) Net assets / (liabilities) 1,587 227 148 107 169 2,238 |
Summary of Outstanding Foreign Forward and Options Contract | The following table gives details in respect of outstanding foreign exchange forward and options contracts: (In millions) As of March 31, 2018 March 31, 2017 Derivatives designated as cash flow hedges Forward contracts In Euro – 95 In United Kingdom Pound Sterling – 40 In Australian dollars – 130 Option Contracts In Australian dollars 60 – In Euro 100 40 In United Kingdom Pound Sterling 20 – Other derivatives Forward contracts In Australian dollars 5 35 In Canadian dollars 20 – In Euro 91 114 In Japanese Yen 550 – In New Zealand dollars 16 – In Norwegian Krone 40 – In Singapore dollars 5 5 In South African Rand 25 – In Swedish Krona 50 50 In Swiss Franc 21 10 In U.S. Dollars 623 526 In United Kingdom Pound Sterling 51 75 Option contracts In Australian dollars 20 – In Canadian dollars – 13 In Euro 45 25 In Swiss Franc 5 – In U.S. Dollars 320 195 In United Kingdom Pound Sterling 25 30 |
Summary of Derivative Financial Instruments into Relevant Maturity Groupings | The table below analyzes the derivative financial instruments into relevant maturity groupings based on the remaining period as of the balance sheet date: (Dollars in millions) As of March 31, 2018 March 31, 2017 Not later than one month 434 355 Later than one month and not later than three months 701 666 Later than three months and not later than one year 378 329 1,513 1,350 |
Summary of Reconciliation of Cash Flow Hedge Reserve | The following table provides the reconciliation of cash flow hedge reserve: (Dollars in millions) Year ended March 31, 2018 Year ended March 31, 2017 Gain / (Loss) Balance at the beginning of the period 6 – Gain / (Loss) recognized in other comprehensive income during the period (14) 18 Amount reclassified to profit or loss during the period 6 (10) Tax impact on above 2 (2) Balance at the end of the period – 6 |
Summary of Quantitative Information About Offsetting of Derivative Financial Assets And Derivative Financial Liabilities | The following table provides quantitative information about offsetting of derivative financial assets and derivative financial liabilities: (Dollars in millions) As of As of March 31, 2018 March 31, 2017 Derivative financial asset Derivative financial liability Derivative financial asset Derivative financial liability Gross amount of recognized financial asset/liability 3 (7) 44 – Amount set off (1) 1 – – Net amount presented in balance sheet 2 (6) 44 – |
Summary of Percentage of Revenues | The following table gives details in respect of percentage of revenues generated from top customer and top ten customers: (In %) Year ended March 31, 2018 2017 2016 Revenue from top customer 3.4 3.4 3.6 Revenue from top ten customers 19.3 21.0 22.5 |
Summary of Credit Risk Exposure | (Dollars in millions) Year ended March 31, 2018 2017 2016 Balance at the beginning 63 44 59 Translation differences 2 (1) (3) Impairment loss recognized/(reversed) 5 20 (7) Write offs (1) – (5) Balance at the end 69 63 44 |
Summary of Credit Receivable | (Dollars in millions except as otherwise stated) As of March 31, 2018 March 31, 2017 Trade receivables 2,016 1,900 Unbilled revenues 654 562 |
Summary of Contractual Maturities of Significant Financial Liabilities | The table below provides details regarding the contractual maturities of significant financial liabilities as of March 31, 2018: (Dollars in millions) Particulars Less than 1 year 1-2 years 2-4 years 4-7 years Total Trade payables 107 – – – 107 Other liabilities (excluding liabilities towards contingent consideration - Refer to note 2.5) 836 – – – 836 Liability towards contingent consideration on an undiscounted basis - (Refer to Note 2.5) 6 1 1 – 8 The table below provides details regarding the contractual maturities of significant financial liabilities as of March 31, 2017: (Dollars in millions) Particulars Less than 1 year 1-2 years 2-4 years 4-7 years Total Trade payables 57 – – – 57 Other liabilities (excluding liabilities towards contingent consideration - Refer to note 2.5) 763 5 – – 768 Liability towards contingent consideration on an undiscounted basis - (Refer to Note 2.5) 7 7 – – 14 |
Prepayments and Other Assets (T
Prepayments and Other Assets (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Prepayments And Other Assets [Abstract] | |
Schedule of Prepayment and Other Assets | Prepayments and other assets consist of the following: (Dollars in millions) As of March 31, 2018 March 31, 2017 Current Rental deposits 2 1 Security deposits 1 2 Loans to employees 37 42 Prepaid expenses (1) 72 68 Interest accrued and not due 117 89 Withholding taxes and others (1) 158 291 Advance payments to vendors for supply of goods (1) 18 20 Deposit with corporation 236 218 Deferred contract cost (1) 7 12 Other assets 14 6 662 749 Non-current Loans to employees 6 5 Security deposits 8 13 Deposit with corporation 9 7 Prepaid gratuity (Refer note 2.12.1) (1) 7 12 Prepaid expenses (1) 17 15 Deferred contract cost (1) 40 44 Withholding taxes and others (1) 219 – Rental deposits 26 27 332 123 994 872 Financial assets in prepayments and other assets 456 410 (1) Non-financial assets |
Other Liabilities (Tables)
Other Liabilities (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Other Liabilities [Abstract] | |
Schedule of Other Liabilities | Other liabilities comprise the following: (Dollars in millions) As of March 31, 2018 March 31, 2017 Current Accrued compensation to employees 385 290 Accrued expenses 376 399 Withholding taxes and others (1) 190 189 Retention money 20 34 Liabilities of controlled trusts 21 22 Liability towards contingent consideration (Refer note 2.9) 6 7 Deferred rent (1) 4 – Others 34 13 1,036 954 Non-current Liability towards contingent consideration (Refer note 2.9) 2 6 Accrued compensation to employees – 5 Accrued gratuity (Refer note 2.12.1) (1) 4 – Deferred income - government grant on land use rights (1) 7 6 Deferred income (1) 5 7 Deferred rent (1) 24 – 42 24 1,078 978 Financial liabilities included in other liabilities 844 776 Contingent consideration on undiscounted basis 8 14 (1) |
Provisions (Tables)
Provisions (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Other Provisions [Abstract] | |
Schedule of Provisions | Provisions comprise the following: (Dollars in millions) As of March 31, 2018 March 31, 2017 Provision for post sales client support and other provisions 75 63 75 63 |
Summary of Movement in the Provision for Post Sales Client Support and Other Provisions | The movement in the provision for post sales client support and other provisions is as follows: (Dollars in millions) Year ended March 31, 2018 Balance at the beginning 63 Translation differences – Provision recognized / (reversed) 22 Provision utilized (10) Balance at the end 75 |
Property, Plant and Equipment (
Property, Plant and Equipment (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Property Plant And Equipment [Abstract] | |
Schedule of Estimated Useful Lives of Assets | The estimated useful lives of assets are as follows: Buildings 22 - 25 years Plant and machinery 5 years Computer equipment 3-5 years Furniture and fixtures 5 years Vehicles 5 years Leasehold improvements Over lease term |
Schedule of Changes in Carrying Value of Property, Plant and Equipment | Following are the changes in the carrying value of property, plant and equipment for the year ended March 31, 2018: (Dollars in millions) Land Buildings Plant and machinery Computer equipment Furniture and fixtures Vehicles Total Gross carrying value as of April 1, 2017 272 1,123 466 700 261 5 2,827 Additions 21 122 56 73 29 1 302 Deletions – – (3) (17) (3) (1) (24) Reclassified under held for sale (refer note 2.9) – – – (6) (4) – (10) Translation difference (1) 2 (1) (1) 2 – 1 Gross carrying value as of March 31, 2018 292 1,247 518 749 285 5 3,096 Accumulated depreciation as of April 1, 2017 (4) (376) (301) (471) (168) (3) (1,323) Depreciation (1) (43) (62) (107) (40) (1) (254) Accumulated depreciation on deletions – – 2 17 3 1 23 Reclassified under held for sale (refer note 2.9) – – – 4 3 – 7 Translation difference – 2 2 – (1) – 3 Accumulated depreciation as of March 31, 2018 (5) (417) (359) (557) (203) (3) (1,544) Capital work-in-progress as of March 31, 2018 311 Carrying value as of March 31, 2018 287 830 159 192 82 2 1,863 Capital work-in-progress as of April 1, 2017 303 Carrying value as of April 1, 2017 268 747 165 229 93 2 1,807 Following are the changes in the carrying value of property, plant and equipment for the year ended March 31, 2017: (Dollars in millions) Land Buildings Plant and machinery Computer equipment Furniture and fixtures Vehicles Total Gross carrying value as of April 1, 2016 244 955 392 615 218 4 2,428 Additions 22 147 73 120 57 1 420 Deletions – – (8) (47) (17) (1) (73) Translation difference 6 21 9 12 3 1 52 Gross carrying value as of March 31, 2017 272 1,123 466 700 261 5 2,827 Accumulated depreciation as of April 1, 2016 (3) (332) (243) (395) (149) (3) (1,125) Depreciation (1) (35) (57) (101) (31) (1) (226) Accumulated depreciation on deletions – – 5 34 14 1 54 Translation difference – (9) (6) (9) (2) – (26) Accumulated depreciation as of March 31, 2017 (4) (376) (301) (471) (168) (3) (1,323) Capital work-in-progress as of March 31, 2017 303 Carrying value as of March 31, 2017 268 747 165 229 93 2 1,807 Capital work-in-progress as of April 1, 2016 286 Carrying value as of April 1, 2016 241 623 149 220 69 1 1,589 Following are the changes in the carrying value of property, plant and equipment for the year ended March 31, 2016: (Dollars in millions) Land Buildings Plant and machinery Computer equipment Furniture and fixtures Vehicles Total Gross carrying value as of April 1, 2015 250 940 337 535 189 6 2,257 Additions 9 68 76 168 40 1 362 Deletions – – (1) (60) (1) (2) (64) Translation difference (15) (53) (20) (28) (10) (1) (127) Gross carrying value as of March 31, 2016 244 955 392 615 218 4 2,428 Accumulated depreciation as of April 1, 2015 (3) (317) (207) (365) (132) (3) (1,027) Depreciation (1) (33) (49) (84) (24) (1) (192) Accumulated depreciation on deletions – – 1 36 1 1 39 Translation difference 1 18 12 18 6 – 55 Accumulated depreciation as of March 31, 2016 (3) (332) (243) (395) (149) (3) (1,125) Capital work-in-progress as of March 31, 2016 286 Carrying value as of March 31, 2016 241 623 149 220 69 1 1,589 Capital work-in-progress as of April 1, 2015 230 Carrying value as of April 1, 2015 247 623 130 170 57 3 1,460 |
Goodwill and Intangible Assets
Goodwill and Intangible Assets (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Intangible Assets And Goodwill [Abstract] | |
Summary of Changes In Carrying Amount of Goodwill | Following is a summary of changes in the carrying amount of goodwill: (Dollars in millions) As of March 31, 2018 March 31, 2017 Carrying value at the beginning 563 568 Goodwill on Brilliant Basics acquisition (Refer to note 2.9) 5 – Goodwill reclassified under assets held for sale (Refer note no 2.9) (247) – Translation differences 18 (5) Carrying value at the end 339 563 |
Summary of Allocation of Goodwill to Operating Segments | The following table presents the allocation of goodwill to operating segments: (Dollars in millions) Segments As of March 31, 2018 2017 Financial services 73 127 Manufacturing 39 63 Retail, Consumer packaged goods and Logistics 48 86 Life Sciences, Healthcare and Insurance 68 98 Energy & utilities, Communication and Services 72 118 300 492 Operating segments without significant goodwill 39 71 Total 339 563 |
Summary of Key Assumptions Used for the Calculations | The key assumptions used for the calculations are as follows: As at March 31, 2018 2017 Long term growth rate (%) 8-10 8-10 Operating margins (%) 17-20 17-20 Discount rate (%) 13.5 14.4 |
Summary of Changes In Carrying Amount of Acquired Intangible Assets | Following are the changes in the carrying value of acquired intangible assets for the year ended March 31, 2018: (Dollars in millions) Customer related Software related Sub-contracting right related Intellectual property rights related Land use rights related Marketing related Others Total Gross carrying value as of April 1, 2017 116 62 3 – 10 14 10 215 Addition through business combination (refer note no. 2.9) 2 – – – – – – 2 Deletion/ retirals (27) – (3) – – (4) (5) (39) Reclassified under assets held for sale (Refer note no. 2.9) (24) (60) – – – (6) – (90) Translation differences 1 1 – – 1 – (1) 2 Gross carrying value as of March 31, 2018 68 3 – – 11 4 4 90 Accumulated amortization as of April 1, 2017 (59) (19) (3) – (1) (7) (6) (95) Amortization expense (20) (12) – – – (2) (1) (35) Deletion/ retirals 27 – 3 – – 4 5 39 Reclassified under assets held for sale (Refer note no. 2.9) 9 28 – – – 3 – 40 Translation differences (1) – – – – – – (1) Accumulated amortization as of March 31, 2018 (44) (3) – – (1) (2) (2) (52) Carrying value as of March 31, 2018 24 – – – 10 2 2 38 Carrying value as of April 1, 2017 57 43 – – 9 7 4 120 Estimated Useful Life (in years) 2-10 – – – 50 5 5 Estimated Remaining Useful Life (in years) 1-5 – – – 43 3 3 Following are the changes in the carrying value of acquired intangible assets for the year ended March 31, 2017: (Dollars in millions) Customer related Software related Sub-contracting right related Intellectual property rights related Land use rights related Marketing related Others Total Gross carrying value as of April 1, 2016 117 62 3 – 11 14 10 217 Deletion – – – – – – – – Translation differences (1) – – – (1) – – (2) Gross carrying value as of March 31, 2017 116 62 3 – 10 14 10 215 Accumulated amortization as of April 1, 2016 (46) (9) (3) – (1) (5) (4) (68) Amortization expense (14) (9) – – – (2) (3) (28) Deletion – – – – – – – – Translation differences 1 (1) – – – – 1 1 Accumulated amortization as of March 31, 2017 (59) (19) (3) – (1) (7) (6) (95) Carrying value as of March 31, 2017 57 43 – – 9 7 4 120 Carrying value as of April 1, 2016 71 53 – – 10 9 6 149 Estimated Useful Life (in years) 3-10 5-8 – – 50 3-10 3-5 Estimated Remaining Useful Life (in years) 1-6 3-6 – – 44 1 -8 1-4 Following are the changes in the carrying value of acquired intangible assets for the year ended March 31, 2016: (Dollars in millions) Customer related Software related Sub-contracting right related Intellectual property rights related Land use rights related Marketing related Others Total Gross carrying value as of April 1, 2015 72 42 3 2 11 8 5 143 Additions through business combinations (Refer to note 2.9) 45 21 – – – 6 4 76 Deletion – – – (2) – – – (2) Translation differences – (1) – – – – 1 – Gross carrying value as of March 31, 2016 117 62 3 – 11 14 10 217 Accumulated amortization as of April 1, 2015 (26) (3) (3) (2) (1) (5) (1) (41) Amortization expense (20) (6) – – – (1) (3) (30) Deletion – – – 2 – – – 2 Translation differences – – – – – 1 – 1 Accumulated amortization as of March 31, 2016 (46) (9) (3) – (1) (5) (4) (68) Carrying value as of March 31, 2016 71 53 – – 10 9 6 149 Carrying value as of April 1, 2015 46 39 – – 10 3 4 102 Estimated Useful Life (in years) 3–10 8–10 – – 50 3–10 3–5 Estimated Remaining Useful Life (in years) 1–7 7–9 – – 45 2–9 2–5 |
Business combinations and Dis39
Business combinations and Disposal group held for sale (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Kallidus Inc | |
Disclosure Of Business Combinations [Line Items] | |
Summary of Purchase Price Allocation | The purchase price has been allocated based on management’s estimates and independent appraisal of fair values as follows: (Dollars in millions) Component Acquiree's carrying amount Fair value adjustments Purchase price allocated Net Assets* 6 – 6 Intangible assets – technology – 21 21 Intangible assets – trade name – 2 2 Intangible assets – customer contracts and relationships – 27 27 Deferred tax liabilities on intangible assets – (20) (20) 6 30 36 Goodwill 71 Total purchase price 107 * Includes cash and cash equivalents acquired of $4 million. |
Summary of Acquisition Date Fair Value of Each Major Class of Consideration | The acquisition date fair value of each major class of consideration as of the acquisition date is as follows: (Dollars in millions) Component Consideration settled Cash Paid 91 Fair value of contingent consideration 16 Total purchase price 107 |
Noah Consulting LLC | |
Disclosure Of Business Combinations [Line Items] | |
Summary of Purchase Price Allocation | The purchase price has been allocated based on management’s estimates and independent appraisal of fair values as follows: (Dollars in millions) Component Acquiree's carrying amount Fair value adjustments Purchase price allocated Net Assets* 6 – 6 Intangible assets – technical know-how – 4 4 Intangible assets – trade name – 4 4 Intangible assets – customer contracts and relationships – 18 18 6 26 32 Goodwill 5 Total purchase price 37 * Includes cash and cash equivalents acquired of $3 million. |
Summary of Acquisition Date Fair Value of Each Major Class of Consideration | The acquisition date fair value of each major class of consideration as of the acquisition date is as follows: (Dollars in millions) Component Consideration settled Cash Paid 33 Fair value of contingent consideration 4 Total purchase price 37 |
Brilliant Basics Holdings Limited | |
Disclosure Of Business Combinations [Line Items] | |
Summary of Purchase Price Allocation | The purchase price has been allocated based on management’s estimates and independent appraisal of fair values as follows: (Dollars in millions) Component Acquiree's carrying amount Fair value adjustments Purchase price allocated Net assets (*) – – – Intangible assets - customer relationships – 2 2 Deferred tax liabilities on intangible assets – – – – 2 2 Goodwill 5 Total purchase price 7 * Includes cash and cash equivalents acquired of less than $1 million |
Summary of Acquisition Date Fair Value of Each Major Class of Consideration | The acquisition date fair value of each major class of consideration as of the acquisition date is as follows: (Dollars in millions) Component Consideration settled Cash paid 4 Fair value of contingent consideration 3 Total purchase price 7 |
Revenue from Operations (Tables
Revenue from Operations (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Revenue [Abstract] | |
Summary of Revenue | Revenues for fiscal 2018, 2017 and 2016 are as follows: (Dollars in millions) Particulars Year ended March 31, 2018 2017 2016 Revenue from software services 10,619 9,895 9,210 Revenue from software products 320 313 291 10,939 10,208 9,501 |
Expenses by Nature (Tables)
Expenses by Nature (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Expense By Nature [Abstract] | |
Schedule of Expense by Nature | (Dollars in millions) Year ended March 31, 2018 2017 2016 Employee benefit costs 6,034 5,612 5,236 Deferred purchase price pertaining to acquisition* – – 23 Depreciation and amortization charges (Refer to Note 2.7 and 2.8) 289 254 222 Travelling costs 310 333 345 Cost of technical sub-contractors 666 571 537 Cost of software packages for own use 138 118 113 Third party items bought for service delivery to clients 152 120 81 Operating lease payments (Refer to Note 2.15) 82 73 55 Consultancy and professional charges 162 114 118 Communication costs 76 82 68 Repairs and maintenance 174 191 160 Rates and Taxes 25 22 17 Provision for post-sales client support 22 12 1 Power and fuel 32 34 33 Commission to non-whole time directors 1 2 1 Branding and marketing expenses 47 51 44 Impairment loss recognized/(reversed) on financial assets 11 21 (7) Insurance charges 9 8 9 Contribution towards Corporate Social Responsibility 24 34 33 Others 26 36 37 Total cost of sales, selling and marketing expenses and administrative expenses 8,280 7,688 7,126 * Pertaining to Infosys Consulting acquisition |
Employee Benefits (Tables)
Employee Benefits (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Defined Benefit Plans [Abstract] | |
Summary of Gratuity Plans Amount Recognized in Group’s Financial Statements | The following tables set out the funded status of the gratuity plans and the amounts recognized in the Group’s financial statements as of March 31, 2018 and March 31, 2017: (Dollars in millions) As of March 31, 2018 March 31, 2017 Change in benefit obligations Benefit obligations at the beginning 172 142 Service cost 23 19 Interest expense 11 10 Remeasurements - Actuarial losses / (gains) (9) 10 Transfer 4 – Curtailment gain – – Benefits paid (17) (13) Translation differences – 4 Benefit obligations at the end 184 172 Change in plan assets Fair value of plan assets at the beginning 184 143 Interest Income 12 12 Remeasurements – Returns on plan assets excluding amounts included in interest income 2 2 Contributions 5 37 Benefits paid (17) (13) Translation differences 1 3 Fair value of plan assets at the end 187 184 Funded status 3 12 Prepaid gratuity benefit 7 12 Accrued gratuity (4) – |
Summary of Defined Benefit Plan | Net gratuity cost for the year ended March 31, 2018, 2017 and 2016 comprises the following components: (Dollars in millions) Year ended March 31, 2018 2017 2016 Service cost 23 19 18 Net interest on the net defined benefit liability / asset (1) (2) (1) Net gratuity cost 22 17 17 Amount for the fiscal 2018, 2017 and 2016 recognized in statement of other comprehensive income: (Dollars in millions) Year ended March 31, 2018 2017 2016 Re-measurements of the net defined benefit liability / asset Actuarial (gains) / losses (9) 10 3 (Return) / loss on plan assets excluding amounts included in the net interest on the net defined benefit liability / asset (2) (2) (1) Total (11) 8 2 (Dollars in millions) Year ended March 31, 2018 2017 2016 (Gain) / loss from change in demographic assumptions – – – (Gain) / loss from change in financial assumptions (6) 8 – (Gain) / loss from change in experience adjustments (3) 2 3 (9) 10 3 The gratuity cost recognized in the statement of comprehensive income apportioned between cost of sales, selling and marketing expenses and administrative expenses on the basis of direct employee cost is as follows: (Dollars in millions) Year ended March 31, 2018 2017 2016 Cost of sales 20 15 15 Selling and marketing expenses 1 1 1 Administrative expenses 1 1 1 22 17 17 Superannuation contributions have been apportioned between cost of sales, selling and marketing expenses and administrative expenses on the basis of direct employee cost as follows: (Dollars in millions) Year ended March 31, 2018 2017 2016 Cost of sales 24 22 32 Selling and marketing expenses 2 2 3 Administrative expenses 1 1 1 27 25 36 The details of fund and plan asset position are given below: (Dollars in millions) As of March 31, 2018 March 31, 2017 Plan assets at period end, at fair value 792 688 Present value of benefit obligation at period end 792 688 Asset recognized in balance sheet – – Provident fund contributions have been apportioned between cost of sales, selling and marketing expenses and administrative expenses on the basis of direct employee cost as follows: (Dollars in millions) Year ended March 31, 2018 2017 2016 Cost of sales 67 61 56 Selling and marketing expenses 5 5 5 Administrative expenses 3 3 2 75 69 63 (Dollars in millions) Year ended March 31, 2018 2017 2016 Salaries and bonus (1) (2) 5,910 5,501 5,120 Defined contribution plans 40 37 46 Defined benefit plans 84 74 70 6,034 5,612 5,236 (1) Includes stock compensation expense of $13 million, $17 million and $1 million for the year ended March 31, 2018, 2017 and 2016 respectively (2) Included in the above is a reversal of stock compensation cost of $5 million for the year ended March 31, 2018 towards forfeiture of stock incentives granted to Dr. Vishal Sikka upon his resignation. Refer note no. 2.16 The employee benefit cost is recognized in the following line items in the consolidated statement of comprehensive income: (Dollars in millions) Year ended March 31, 2018 2017 2016 Cost of sales 5,379 4,987 4,627 Selling and marketing expenses 425 405 403 Administrative expenses 230 220 206 6,034 5,612 5,236 |
Summary of Weighted-Average Assumptions | The weighted-average assumptions used to determine benefit obligations as of March 31, 2018 and March 31, 2017 are set out below: As of March 31, 2018 March 31, 2017 Discount rate 7.5% 6.9% Weighted average rate of increase in compensation levels 8.0% 8.0% The weighted-average assumptions used to determine net periodic benefit cost for the year ended March 31, 2018, 2017 and 2016 are set out below: Year ended March 31, 2018 2017 2016 Discount rate for the year 6.9% 7.8% 7.8% Weighted average rate of increase in compensation levels 8.0% 8.0% 8.0% Weighted average duration of defined benefit obligation 6.1 years 6.1 years 6.4 years Assumptions used in determining the present value obligation of the interest rate guarantee under the Deterministic Approach: As of March 31, 2018 March 31, 2017 Government of India (GOI) bond yield 7.5% 6.9% Remaining term to maturity of portfolio 5.9 years 6 years Expected guaranteed interest rate 8.6% 8.6% Discount rate In India, the market for high quality corporate bonds being not developed, the yield of government bonds is considered as the discount rate. The tenure has been considered taking into account the past long-term trend of employees’ average remaining service life which reflects the average estimated term of the post- employment benefit obligations. Weighted average rate of increase in compensation levels The average rate of increase in compensation levels is determined by the Company, considering factors such as, the Company’s past compensation revision trends and management’s estimate of future salary increases. Attrition rate Attrition rate considered is the management’s estimate based on the past long-term trend of employee turnover in the Company. |
Summary of Sensitivity of Significant Assumptions Used for Valuation of Defined Benefit Obligation | Sensitivity of significant assumptions used for valuation of defined benefit obligation: (Dollars in millions) Impact from one percentage point increase / decrease in As at March 31, 2018 Discount rate 9 Weighted average rate of increase in compensation levels 8 |
Summary of Maturity Profile of Defined Benefit Obligation | Maturity profile of defined benefit obligation: (Dollars in millions) Within 1 year 27 1 - 2 year 27 2 - 3 year 29 3 - 4 year 31 4 - 5 year 33 5 - 10 years 157 |
Equity (Tables)
Equity (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Equity [Abstract] | |
Summary of Dividend Payout | Effective from Financial Year 2018, the Company's policy is to payout up to 70% of the free cash flow of the corresponding Financial Year in such manner (including by way of dividend and / or share buyback) as may be decided by the Board from time to time, subject to applicable laws and requisite approvals, if any. Free cash flow is defined as net cash provided by operating activities less capital expenditure as per the consolidated statement of cash flows prepared under IFRS. Dividend payout includes dividend distribution tax. The following table provides details of per share dividend recognized during fiscal 2018, 2017 and 2016: Fiscal 2018 Fiscal 2017 Fiscal 2016 Dividend per Equity Share (₹) Interim dividend (3) 13.00 11.00 10.00 Final dividend (4) 14.75 14.25 14.75 (2) Dividend per Equity Share/ADS ($) (1) Interim dividend (3) 0.20 0.17 0.15 Final dividend (4) 0.23 0.22 0.24 (2) (1) (2) Adjusted for June 17, 2015 bonus share issue. (3) (4) Represents final dividend for the preceding fiscal year |
Other Income (Tables)
Other Income (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Expense By Nature [Abstract] | |
Summary of Other Income | Other income consists of the following: (Dollars in millions) Year ended March 31, 2018 2017 2016 Interest income on financial assets carried at amortized cost 260 352 402 Interest income on financial assets fair valued through other comprehensive income 106 28 – Dividend income on investments carried at fair value through profit or loss 1 4 10 Gain / (loss) on investments carried at fair value through profit or loss 39 18 – Exchange gains / (losses) on forward and options contracts – 89 4 Exchange gains / (losses) on translation of other assets and liabilities 36 (54) 21 Reduction in fair value of Disposal Group held for sale (refer note no. 2.9) (18) – – Others 71 22 39 495 459 476 |
Schedule of Future Minimum Rent
Schedule of Future Minimum Rental Payments in Respect of Non-cancellable Operating Leases (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Finance Lease And Operating Lease By Lessee [Abstract] | |
Schedule of Future Minimum Rental Payments in Respect of Non-cancellable Operating Leases | The schedule of future minimum rental payments in respect of non-cancellable operating leases is set out below: (Dollars in millions) As of March 31, 2018 March 31, 2017 Within one year of the balance sheet date 70 71 Due in a period between one year and five years 213 191 Due after five years 134 114 |
Employees' Stock Option Plans46
Employees' Stock Option Plans (ESOP) (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |
Summary of Share Option Grant | The following is the summary of grants made during fiscal 2018, 2017 and 2016 under the 2015 Plan: Particulars Fiscal 2018 Fiscal 2017 Fiscal 2016 RSU Salil Parekh, CEO and MD - Refer Note 1 below 113,024 – – U.B. Pravin Rao, COO and WTD 27,250 – – Dr.Vishal Sikka* 270,224 120,700 124,061 Other KMP** 271,100 246,250 – Employees other than KMP 1,599,010 2,507,740 – 2,280,608 2,874,690 124,061 ESOP U.B. Pravin Rao, COO and WTD 43,000 – – Dr. Vishal Sikka* 330,525 – – Other KMP** 44,450 502,550 – Employees other than KMP 73,600 703,300 – 491,575 1,205,850 – Incentive units- cash settled Other employees 50,040 112,210 – 50,040 112,210 – Total grants 2,822,223 4,192,750 124,061 * Upon Dr. Vishal Sikka's resignation from the roles of the company, the unvested RSUs and ESOPs have been forfeited ** Refer note 2.19 for details on resignation of certain KMPs |
Schedule of Break-up of Employee Stock Compensation Expense | Break-up of employee stock compensation expense (Dollars in millions) Year ended March 31, 2018 2017 2016 Granted to: KMP (1) (2 ) 5 1 Employees other than KMP 15 12 – Total 13 17 1 Cash settled stock compensation expense included in the above 1 – – ( 1 ) Included a reversal of stock compensation cost of $5 million for fiscal 2018, towards forfeiture of stock incentives granted to Dr. Vishal Sikka upon his resignation. |
Restricted Stock Units (RSUs) | |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |
Summary of Fair Value estimated on Date of Grant | The fair value of each equity settled RSU is estimated on the date of grant using the Black-Scholes-Merton model with the following assumptions: Particulars For options granted in Fiscal 2018-Equity Shares-RSU Fiscal 2018-Equity shares ESOP Fiscal 2018 -ADS-RSU Fiscal 2018 -ADS-ESOP Weighted average share price ( ₹ 1,144 923 16.61 14.65 Exercise price (₹)/ ($- ADS) 5.00 919 0.08 14.67 Expected volatility (%) 20-25 25-28 21-26 25-31 Expected life of the option (years) 1 - 4 3 - 7 1 - 4 3 - 7 Expected dividends (%) 2.78 2.78 2.74 2.74 Risk-free interest rate (%) 6 - 7 6 - 7 1 - 2 1 - 2 Weighted average fair value as on grant date (₹) / ($- ADS) 1,066 254 15.47 2.93 Particulars For options granted in Fiscal 2017-Equity Shares-RSU Fiscal 2017-Equity shares ESOP Fiscal 2017 -ADS-RSU Fiscal 2017 -ADS-ESOP Weighted average share price (₹) / ($- ADS) 1,067 989 15.77 15.26 Exercise price (₹)/ ($- ADS) 5.00 998 0.07 15.26 Expected volatility (%) 24-29 27-29 26-29 27-31 Expected life of the option (years) 1- 4 3 - 7 1- 4 3 - 7 Expected dividends (%) 2.37 2.37 2. 29 2. 29 Risk-free interest rate (%) 6- 7 6- 7 1 - 2 1 - 2 Weighted average fair value as on grant date (₹) / ($- ADS) 1,002 285 14.84 3.46 |
2015 Stock Incentive Compensation Plan | |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |
Schedule of Equity Settled Share Based Payment Transaction | The activity in the 2015 Plan for equity-settled share based payment transaction during the year ended March 31, 2018 is set out below: Year ended March 31, 2018 Shares arising out of options Weighted average exercise price($) 2015 Plan -RSU Outstanding at the beginning* 2,961,373 0.07 Granted 2,280,608 0.08 Exercised 648,217 0.07 Forfeited and expired 843,355 0.07 Outstanding at the end 3,750,409 0.07 Exercisable at the end 24,205 0.07 2015 Plan-ESOP Outstanding at the beginning 1,197,650 15.26 Granted 491,575 14.62 Exercised 52,412 15.26 Forfeited and expired 669,900 14.84 Outstanding at the end 966,913 15.23 Exercisable at the end 196,912 15.26 The activity in the 2015 Plan for equity-settled share based payment transaction during the year ended March 31, 2017 is set out below: Year ended March 31, 2017 Shares arising out of options Weighted average exercise price ($) 2015 Plan -RSU Outstanding at the beginning* 221,505 0.07 Granted 2,874,690 0.07 Forfeited and expired 100,760 0.07 Exercised 34,062 – Outstanding at the end 2,961,373 0.07 Exercisable at the end – – 2015 Plan -ESOP Outstanding at the beginning – – Granted 1,205,850 15.26 Forfeited and expired 8,200 15.26 Exercised – – Outstanding at the end 1,197,650 15.26 Exercisable at the end – – As at March 31, 2018 and March 31, 2017, 111,757 and 106,845 incentive units were outstanding (net of forfeitures). The activity in the 2015 Plan for equity-settled share based payment transaction during the year ended March 31, 2016 is set out below: Year ended March 31, 2016 Shares arising out of options Weighted average exercise price($) 2015 Plan - RSU Outstanding at the beginning* 108,268 0.07 Granted 124,061 0.07 Forfeited and expired – – Exercised* 10,824 0.07 Outstanding at the end 221,505 0.07 Exercisable at the end – – * Adjusted for bonus issue. (Refer to note 2.13). |
Schedule of Equity Settled RSUs and ESOPs Outstanding | The following table summarizes information about equity settled RSUs and ESOPs outstanding as of March 31, 2018: Options outstanding Range of exercise prices per share ($) No. of shares arising out of options Weighted average remaining contractual life Weighted average exercise price ($) 2015 Plan: ADS and IES 0 - 0.08 (RSU) 3,750,409 1.89 0.07 13 - 17 (ESOP) 966,913 6.60 15.23 4,717,322 2.57 3.18 The following table summarizes information about equity settled RSUs and ESOPs outstanding as at March 31, 2017: Options outstanding Range of exercise prices per share ($) No. of shares arising out of options Weighted average remaining contractual life Weighted average exercise price ($) 2015 Plan: 0 - 0.07 (RSU) 2,961,373 1.88 0.07 14 - 16 (ESOP) 1,197,650 7.09 15.83 4,159,023 3.38 4.61 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Major Components Of Tax Expense Income [Abstract] | |
Schedule of Income Tax Expense | Income tax expense in the consolidated statement of comprehensive income comprises: (Dollars in millions) Year ended March 31, 2018 2017 2016 Current taxes Domestic taxes 721 616 642 Foreign taxes (12) 226 167 709 842 809 Deferred taxes Domestic taxes (80) (1) 3 Foreign taxes 28 (7) (13) (52) (8) (10) Income tax expense 657 834 799 |
Summary of Reconciliation of Income Tax Provision to Amount Computed by Applying Statutory Income Tax Rate to Income Before Income Taxes | A reconciliation of the income tax provision to the amount computed by applying the statutory income tax rate to the income before income taxes is summarized below: (Dollars in millions) Year ended March 31, 2018 2017 2016 Profit before income taxes 3,143 2,974 2,851 Enacted tax rates in India 34.61% 34.61% 34.61% Computed expected tax expense 1,088 1,029 987 Tax effect due to non-taxable income for Indian tax purposes (321) (295) (268) Overseas taxes 109 112 109 Tax provision (reversals) (253) (23) (47) Effect of differential overseas tax rates 8 10 1 Effect of exempt non-operating income (10) (10) (13) Effect of unrecognized deferred tax assets 29 14 9 Effect of non-deductible expenses 9 4 30 Branch profit tax (net of credits) (32) – – Subsidiary dividend distribution tax 27 – – Others 3 (7) (9) Income tax expense 657 834 799 |
Summary of Expiration of Unused Tax Losses | The following table provides details of expiration of unused tax losses: Year in USD millions 2019 14 2020 37 2021 12 2022 21 2023 39 Thereafter 174 Total 297 |
Summary of Income Tax Assets and Income Tax Liabilities | The following table provides the details of income tax assets and income tax liabilities as of March 31, 2018 and March 31, 2017: As of March 31, 2018 March 31, 2017 Income tax assets 931 881 Current income tax liabilities (314 ) (599 ) Net current income tax assets / (liabilities) at the end 617 282 The gross movement in the current income tax asset / (liability) for fiscal 2018, 2017 and 2016 is as follows: (Dollars in millions) Year ended March 31, 2018 2017 2016 Net current income tax asset / (liability) at the beginning 282 274 203 Translation differences (8) 6 (12) Income tax paid 1,059 843 892 Current income tax expense (Refer to Note 2.17) (709) (842) (809) Income tax on other comprehensive income (2) 1 – Reclassified under assets held for sale (refer note no 2.9) (5) – – Net current income tax asset / (liability) at the end 617 282 274 |
Summary of Movement in Gross Deferred Income Tax Assets and Liabilities | The movement in gross deferred income tax assets and liabilities (before set off) for fiscal 2018 is as follows: (Dollars in millions) Carrying value as of April 1, 2017 Changes through profit and loss Changes through OCI Reclassified as Held for Sale Translation difference Carrying value as of March 31, 2018 Deferred income tax assets Property, plant and equipment 21 12 – – – 33 Computer software 6 (6 ) – – – – Accrued compensation to employees 9 (8 ) – – 1 2 Trade receivables 21 1 – – – 22 Compensated absences 58 – – – (2 ) 56 Post sales client support 15 – – – – 15 Derivative financial instruments – 2 – – – 2 Intangibles 3 (3 ) – – 1 1 Credits related to branch profits – 53 – – (1 ) 52 Others 22 (2 ) – (5 ) 3 18 155 49 – (5 ) 2 201 Deferred income tax liabilities Intangible asset (32 ) 13 – 13 – (6 ) Branch profit tax (50 ) (25 ) – – (2 ) (77 ) Derivative financial instruments (11 ) 11 – – – – Others (11 ) 4 2 – 1 (4 ) (104 ) 3 2 13 (1 ) (87 ) The movement in gross deferred income tax assets and liabilities (before set off) for fiscal 2017 is as follows: (Dollars in millions) Carrying value as of April 1, 2016 Changes through profit and loss Changes through OCI Translation difference Carrying value as of March 31, 2017 Deferred income tax assets Property, plant and equipment 27 (6 ) – – 21 Computer software 8 (2 ) – – 6 Accrued compensation to employees 10 – – (1 ) 9 Trade receivables 13 8 – – 21 Compensated absences 59 (3 ) – 2 58 Post sales client support 12 3 – – 15 Intangibles 1 2 – – 3 Others 7 14 – 1 22 137 16 – 2 155 Deferred income tax liabilities Intangible asset (38 ) 6 – – (32 ) Branch profit tax (51 ) – – 1 (50 ) Derivative financial instruments – (11 ) – – (11 ) Others * (6 ) (3 ) (1 ) (1 ) (11 ) (95 ) (8 ) (1 ) – (104 ) * included in others is the impact on adoption of IFRS 9 of $1 million The movement in gross deferred income tax assets and liabilities (before set off) for fiscal 2016 is as follows: (Dollars in millions) Carrying value as of April 1, 2015 Changes through profit and loss Changes through OCI Additions through Business Combinations Translation difference Carrying value as of March 31, 2016 Deferred income tax assets Property, plant and equipment 38 (9 ) – – (2 ) 27 Computer software 8 – – – – 8 Accrued compensation to employees 8 3 – – (1 ) 10 Trade receivables 17 (4 ) – – – 13 Compensated absences 48 14 – – (3 ) 59 Post sales client support 12 – – – – 12 Intangibles – 1 – – – 1 Others 5 3 – – (1 ) 7 136 8 – – (7 ) 137 Deferred income tax liabilities Intangible asset (25 ) 7 – (20 ) – (38 ) Branch profit tax (51 ) – – – – (51 ) Others – (5 ) (1 ) – – (6 ) (76 ) 2 (1 ) (20 ) – (95 ) (Dollars in millions) As of March 31, 2018 March 31, 2017 Deferred income tax assets after set off 196 83 Deferred income tax liabilities after set off (82) (32) |
Reconciliation of Basic And D48
Reconciliation of Basic And Diluted Shares Used In Computing Earnings Per Equity Share (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Earnings Per Share [Abstract] | |
Table of Equity Shares Used in Computation of Basic and Diluted Earnings Per Equity Share | The following is a reconciliation of the equity shares used in the computation of basic and diluted earnings per equity share: Year ended March 31, 2018 2017 2016 Basic earnings per equity share - weighted average number of equity shares outstanding (1)(2) 2,255,332,322 2,285,639,447 2,285,616,160 Effect of dilutive common equivalent shares - share options outstanding 2,241,548 757,298 102,734 Diluted earnings per equity share - weighted average number of equity shares and common equivalent shares outstanding 2,257,573,870 2,286,396,745 2,285,718,894 (1) excludes treasury shares (2) adjusted for bonus shares, wherever applicable Refer to note 2.13 |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Transactions Between Related Parties [Abstract] | |
Summary of Related Party Transactions | List of subsidiaries: Particulars Country Holding as of March 31, 2018 March 31, 2017 Infosys Technologies (China) Co. Limited (Infosys China) China 100% 100% Infosys Technologies S. de R. L. de C. V. (Infosys Mexico) Mexico 100% 100% Infosys Technologies (Sweden) AB. (Infosys Sweden) Sweden 100% 100% Infosys Technologies (Shanghai) Company Limited (Infosys Shanghai) China 100% 100% Infosys Tecnologia DO Brasil LTDA. (Infosys Brasil) Brazil 100% 100% Infosys Nova Holdings LLC. (Infosys Nova) U.S. 100% 100% EdgeVerve Systems Limited (EdgeVerve) India 100% 100% Lodestone Management Consultants GmbH (1) Austria 100% 100% Skava Systems Pvt. Ltd. (Skava Systems) India 100% 100% Kallidus Inc. (Kallidus) U.S. 100% 100% Infosys Chile SpA (2) Chile - - Infosys Arabia Limited (3) Saudi Arabia 70% - Infosys Americas Inc., (Infosys Americas) U.S. 100% 100% Infosys Technologies (Australia) Pty. Limited (Infosys Australia) (4) Australia 100% 100% Infosys Public Services, Inc. USA (Infosys Public Services) U.S. 100% 100% Infosys Canada Public Services Ltd . (5)(6) Canada - - Infosys BPM Limited (formerly Infosys BPO Limited) India 99.98% 99.98% Infosys (Czech Republic) Limited s.r.o. (7) Czech Republic 99.98% 99.98% Infosys Poland, Sp z.o.o (7) Poland 99.98% 99.98% Infosys McCamish Systems LLC (7) U.S. 99.98% 99.98% Portland Group Pty Ltd (7) Australia 99.98% 99.98% Infosys BPO Americas LLC. (7) U.S. 99.98% 99.98% Infosys Consulting Holding AG (Infosys Lodestone) Switzerland 100% 100% Lodestone Management Consultants Inc. (4)(8) U.S. 100% 100% Infosys Management Consulting Pty Limited (8) Australia 100% 100% Infosys Consulting AG (8) Switzerland 100% 100% Infosys Consulting GmbH (8) Germany 100% 100% Infosys Consulting SAS (8) France 100% 100% Infosys Consulting s.r.o. (8) Czech Republic 100% 100% Lodestone Management Consultants Co., Ltd. (8) China 100% 100% Infy Consulting Company Ltd (8) U.K. 100% 100% Infy Consulting B.V. (8) The Netherlands 100% 100% Infosys Consulting Sp. z.o.o (8) Poland 100% 100% Lodestone Management Consultants Portugal, Unipessoal, Lda. (8) Portugal 100% 100% S.C. Infosys Consulting S.R.L. (8) Romania 100% 100% Infosys Consulting S.R.L. (8) Argentina 100% 100% Lodestone GmbH (8)(9) Switzerland - - Lodestone Augmentis AG (10)(11) Switzerland - - Infosys Consulting (Belgium) NV (formerly Lodestone Management Consultants (Belgium) S.A.) (12) Belgium 99.90% 99.90% Infosys Consulting Ltda. (12) Brazil 99.99% 99.99% Panaya Inc. (Panaya) U.S. 100% 100% Panaya Ltd . (13) Israel 100% 100% Panaya GmbH (13) Germany 100% 100% Panaya Japan Co. Ltd (4)(13) Japan 100% 100% Panaya Pty Ltd . (13)(14) Australia - - Noah Consulting LLC (Noah) (15) U.S. - 100% Noah Information Management Consulting Inc. (Noah Canada) (16)(17) Canada - 100% Brilliant Basics Holdings Limited (18) U.K. 100% - Brilliant Basics Limited (19) U.K. 100% - Brilliant Basics (MENA) DMCC (19) Dubai 100% - Infosys Consulting Pte Limited (1) Singapore 100% 100% Infosys Middle East FZ LLC (20) Dubai 100% - (1) (2) (3) (4) (5) (6) (7) (8) Wholly owned subsidiaries of Infosys Consulting Holding AG (formerly Lodestone Holding AG) (9) Liquidated effective December 21, 2016 (10) Wholly owned subsidiary of Infosys Consulting AG (formerly Lodestone Management Consultants AG) (11) Liquidated effective October 5, 2016 (12) Majority owned and controlled subsidiaries of Infosys Consulting Holding AG (formerly Lodestone Holding AG) (13) Wholly owned subsidiary of Panaya Inc. (14) Liquidated effective November 16, 2016 (15) Liquidated effective November 9, 2017 (16) Wholly owned subsidiary of Noah (17) Liquidated effective December 20, 2017 (18) On September 8, 2017, Infosys acquired 100% of the voting interests in Brilliant Basics Holdings Limited., UK (19) (20) Wholly-owned subsidiary of Infosys Consulting Pte Ltd Infosys has provided guarantee for performance of certain contracts entered into by its subsidiaries. List of associates: Particulars Country Holding as of March 31, 2018 March 31, 2017 DWA Nova LLC (DWA Nova) (1) U.S. – 16% (1) List of other related parties: Particulars Country Nature of relationship Infosys Limited Employees' Gratuity Fund Trust India Post-employment benefit plan of Infosys Infosys Limited Employees' Provident Fund Trust India Post-employment benefit plan of Infosys Infosys Limited Employees' Superannuation Fund Trust India Post-employment benefit plan of Infosys Infosys BPM Limited Employees’ Superannuation Fund Trust (formerly Infosys BPO Limited Employees’ Superannuation Fund Trust) India Post-employment benefit plan of Infosys BPM Infosys BPM Limited Employees’ Gratuity Fund Trust (formerly Infosys BPO Limited Employees’ Gratuity Fund Trust) India Post-employment benefit plan of Infosys BPM EdgeVerve Systems Limited Employees‘ Gratuity Fund Trust India Post-employment benefit plan of EdgeVerve EdgeVerve Systems Limited Employees’ Superannuation Fund Trust India Post-employment benefit plan of EdgeVerve Infosys Employees’ Welfare Trust India Controlled Trust Infosys Employee Benefits Trust India Controlled Trust Infosys Science Foundation India Controlled Trust The table below describes the compensation to key management personnel which comprises directors and executive officers under IAS 24: (Dollars in millions) Particulars Year ended March 31, 2018 2017 2016 Salaries and other employee benefits to whole-time directors and executive officers (1)(2) (3) (4)(5) 8 12 15 Commission and other benefits to non-executive / independent directors 2 2 2 Total 10 14 17 (1) (2) (3) (4) (5) |
Segment Reporting (Tables)
Segment Reporting (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Operating Segments [Abstract] | |
Schedule of Segmented Information | (Dollars in millions) Year ended March 31, 2018 FS MFG ECS RCL HILIFE Hi-Tech All other segments Total Revenues 2,891 1,194 2,599 1,722 1,438 784 311 10,939 Identifiable operating expenses 1,470 641 1,305 828 713 416 180 5,553 Allocated expenses 613 271 589 390 326 178 71 2,438 Segment profit 808 282 705 504 399 190 60 2,948 Unallocable expenses 289 Operating profit 2,659 Other income, net (refer note no. 2.14 and 2.9) 495 Share in associate's profit / (loss) including impairment (11) Profit before Income taxes 3,143 Income tax expense 657 Net profit 2,486 Depreciation and amortisation 289 Non-cash expenses other than depreciation and amortisation 29 (Dollars in millions) Year ended March 31, 2017 FS MFG ECS RCL HILIFE Hi-Tech All other segments Total Revenues 2,765 1,119 2,300 1,673 1,258 763 330 10,208 Identifiable operating expenses 1,382 584 1,107 802 623 396 210 5,104 Allocated expenses 607 259 532 387 291 177 76 2,329 Segment profit 776 276 661 484 344 190 44 2,775 Unallocable expenses 255 Operating profit 2,520 Other income, net 459 Share in associate's profit / (loss) including impairment (5) Profit before Income taxes 2,974 Income tax expense 834 Net profit 2,140 Depreciation and amortisation 254 Non-cash expenses other than depreciation and amortisation 1 (Dollars in millions) Year ended March 31, 2016 FS MFG ECS RCL HILIFE Hi-Tech All other segments Total Revenues 2,590 1,047 2,061 1,556 1,231 756 260 9,501 Identifiable operating expenses 1,248 555 944 742 585 371 156 4,601 Allocated expenses 606 257 505 381 302 185 65 2,301 Segment profit 736 235 612 433 344 200 39 2,599 Unallocable expenses 224 Operating profit 2,375 Other income, net 476 Share in associate's profit / (loss) including impairment – Profit before Income taxes 2,851 Income tax expense 799 Net profit 2,052 Depreciation and amortisation 222 Non-cash expenses other than depreciation and amortisation 2 2.20.2 Geographic segments (Dollars in millions) Year ended March 31, 2018 North America Europe India Rest of the World Total Revenues 6,605 2,596 346 1,392 10,939 Identifiable operating expenses 3,429 1,324 141 659 5,553 Allocated expenses 1,494 586 66 292 2,438 Segment profit 1,682 686 139 441 2,948 Unallocable expenses 289 Operating profit 2,659 Other income, net (refer note no. 2.14 and 2.9) 495 Share in associate's profit / (loss) including impairment (11) Profit before income taxes 3,143 Income tax expense 657 Net profit 2,486 Depreciation and amortization 289 Non-cash expenses other than depreciation and amortization 29 (Dollars in millions) Year ended March 31, 2017 North America Europe India Rest of the World Total Revenues 6,320 2,295 325 1,268 10,208 Identifiable operating expenses 3,222 1,147 149 586 5,104 Allocated expenses 1,460 529 66 274 2,329 Segment profit 1,638 619 110 408 2,775 Unallocable expenses 255 Operating profit 2,520 Other income, net 459 Share in associate's profit / (loss) including impairment (5) Profit before income taxes 2,974 Income tax expense 834 Net profit 2,140 Depreciation and amortization 254 Non-cash expenses other than depreciation and amortization 1 (Dollars in millions) Year ended March 31, 2016 North America Europe India Rest of the World Total Revenues 5,957 2,186 246 1,112 9,501 Identifiable operating expenses 2,936 1,060 109 496 4,601 Allocated expenses 1,459 534 51 257 2,301 Segment profit 1,562 592 86 359 2,599 Unallocable expenses 224 Operating profit 2,375 Other income, net 476 Share in associate's profit / (loss) including impairment – Profit before income taxes 2,851 Income tax expense 799 Net profit 2,052 Depreciation and amortization 222 Non-cash expenses other than depreciation and amortization 2 |
Overview - Additional Informati
Overview - Additional Information (Details) | 12 Months Ended |
Mar. 31, 2018 | |
Overview [Abstract] | |
Name of reporting entity | Infosys Limited |
Description of nature of entity's operations and principal activities | Infosys is a leading provider of consulting, technology, outsourcing and next-generation digital services and software. Along with its subsidiaries, Infosys provides Business IT services (comprising application development and maintenance, independent validation, infrastructure management, engineering services comprising product engineering and life cycle solutions and business process management); Consulting and systems integration services (comprising consulting, enterprise solutions, systems integration and advanced technologies); Products, business platforms and solutions to accelerate intellectual property-led innovation. Its new offerings span areas like digital, big data and analytics, cloud, data and mainframe modernization, cyber security, IoT engineering Services and API & micro services. |
Domicile of entity | India |
Address of entity's registered office | Bengaluru, Karnataka, India |
Cash and Cash Equivalents - Sum
Cash and Cash Equivalents - Summary of Cash and Cash Equivalent (Details) - USD ($) $ in Millions | Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2015 |
Cash And Cash Equivalents [Abstract] | ||||
Cash and bank deposits | $ 2,021 | $ 2,296 | ||
Deposits with financial institutions | 1,020 | 1,193 | ||
Cash and cash equivalents | 3,041 | 3,489 | ||
Cash and cash equivalents included under assets classified as held for sale (Refer note no 2.9) | 8 | |||
Cash and cash equivalents | $ 3,049 | $ 3,489 | $ 4,935 | $ 4,859 |
Cash and Cash Equivalents - Add
Cash and Cash Equivalents - Additional Information (Details) - USD ($) $ in Millions | Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 |
Cash And Cash Equivalents [Abstract] | |||
Restricted cash and bank balances | $ 82 | $ 88 | $ 74 |
Cash and Cash Equivalents - Det
Cash and Cash Equivalents - Details of Cash and Cash Equivalent (Details) - USD ($) $ in Millions | Mar. 31, 2018 | Mar. 31, 2017 |
Cash And Cash Equivalent [Line Items] | ||
Cash | $ 418 | $ 318 |
Deposit accounts | 1,603 | 1,978 |
Deposits with financial institution | 1,020 | 1,193 |
Cash and cash equivalents | 3,041 | 3,489 |
ANZ Bank, Taiwan | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 1 | |
Banamex Bank, Mexico (U.S. Dollar account) | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 2 | 1 |
Bank of America, USA | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 180 | 159 |
Bank of America, Mexico | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 4 | 8 |
Bank of Zachodni WBK S.A., Poland | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 3 | 1 |
Barclays Bank, UK | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 6 | |
Bank Leumi, Israel (Israeli Sheqel account) | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 2 | |
BNP Paribas Bank, Norway | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 14 | 3 |
China Merchants Bank, China | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 1 | 1 |
Citibank N.A., Australia | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 34 | 3 |
Citibank N.A., Brazil | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 2 | 5 |
Citibank N.A., China | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 18 | 10 |
Citibank N.A., China (U.S. Dollar account) | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 1 | 2 |
Citibank N.A., Dubai | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 1 | |
Citibank N.A., Costa Rica | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 1 | |
Citibank N.A., EEFC (U.S. Dollar account) | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 1 | |
Citibank N.A., Hungary | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 1 | |
Citibank N.A., Japan | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 3 | 2 |
Citibank N.A., New Zealand | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 2 | 2 |
Citibank N.A., South Africa | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 5 | 2 |
Citibank N.A., Portugal | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 1 | |
Citibank N.A., USA | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 1 | 12 |
Citibank N.A., Singapore | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 1 | |
Commerzbank, Germany | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 3 | |
Deutsche Bank, Belgium | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 4 | 2 |
Deutsche Bank, Malaysia | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 1 | 1 |
Deutsche Bank, Czech Republic | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 2 | 1 |
Deutsche Bank, Czech Republic (Euro account) | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 1 | 1 |
Deutsche Bank, Czech Republic (U.S. dollar account) | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 5 | |
Deutsche Bank, France | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 3 | 1 |
Deutsche Bank, Germany | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 16 | 8 |
Deutsche Bank, India | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 7 | 2 |
Deutsche Bank, Netherlands | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 2 | |
Deutsche Bank, Philippines | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 4 | 1 |
Deutsche Bank, Philippines (U.S. dollar account) | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 1 | 1 |
Deutsche Bank, Poland (Euro account) | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 1 | 1 |
Deutsche Bank, Poland (PLN account) | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 3 | 2 |
Deutsche Bank, Singapore | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 3 | 1 |
Deutsche Bank, Switzerland | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 5 | 1 |
Deutsche Bank, Russia | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 1 | |
Deutsche Bank, United Kingdom | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 12 | 4 |
Deutsche Bank, Russia (U.S. dollar account) | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 1 | |
Deutsche Bank-EEFC (Australian Dollar account) | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 6 | |
Deutsche Bank-EEFC (Euro account) | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 5 | 4 |
Deutsche Bank-EEFC (U.S. dollar account) | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 5 | 12 |
Deutsche Bank-EEFC, India (United Kingdom Pound Sterling account) | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 1 | 2 |
Deutsche Bank, USA | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 2 | |
ICICI Bank-EEFC, India (U.S. dollar account) | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 6 | 1 |
ICICI Bank | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 8 | 8 |
ICICI Bank - Unpaid dividend account | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 3 | 2 |
Nordbanken, Sweden | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 8 | 5 |
ICICI Bank-EEFC, (United Kingdom pound sterling account) | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 2 | |
Raiffeisen Bank, Czech Republic | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 1 | 1 |
HSBC Bank, United Kingdom | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 1 | |
Raiffeisen Bank, Romania | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 1 | |
Royal Bank of Canada, Canada | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 26 | 13 |
State Bank of India, India | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 1 | |
Punjab National Bank, India | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 2 | 1 |
Silicon Valley Bank, USA | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 1 | |
Silicon Valley Bank (Euro account) | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 3 | |
Union Bank of Switzerland, AG (U.S. dollar account) | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 1 | |
Splitska Banka D.D., Societe Generale Group, Croatia | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 1 | |
Wells Fargo Bank N.A., USA | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 5 | |
Axis Bank, India | ||
Cash And Cash Equivalent [Line Items] | ||
Deposit accounts | 181 | |
Bank BGZ BNP Paribas S.A | ||
Cash And Cash Equivalent [Line Items] | ||
Deposit accounts | 22 | 28 |
Barclays Bank | ||
Cash And Cash Equivalent [Line Items] | ||
Deposit accounts | 31 | 127 |
Canara Bank, India | ||
Cash And Cash Equivalent [Line Items] | ||
Deposit accounts | 36 | 40 |
Deutsche Bank, AG | ||
Cash And Cash Equivalent [Line Items] | ||
Deposit accounts | 4 | |
Citibank, India | ||
Cash And Cash Equivalent [Line Items] | ||
Deposit accounts | 35 | 26 |
Deutsche Bank, Poland | ||
Cash And Cash Equivalent [Line Items] | ||
Deposit accounts | 32 | 11 |
HDFC Bank, India | ||
Cash And Cash Equivalent [Line Items] | ||
Deposit accounts | 383 | 72 |
HSBC Bank | ||
Cash And Cash Equivalent [Line Items] | ||
Deposit accounts | 77 | |
ICICI Bank, India | ||
Cash And Cash Equivalent [Line Items] | ||
Deposit accounts | 568 | 751 |
IDBI Bank, India | ||
Cash And Cash Equivalent [Line Items] | ||
Deposit accounts | 38 | 270 |
IDFC Bank | ||
Cash And Cash Equivalent [Line Items] | ||
Deposit accounts | 230 | 31 |
Indusind Bank, India | ||
Cash And Cash Equivalent [Line Items] | ||
Deposit accounts | 154 | 29 |
Kotak Mahindra Bank, India | ||
Cash And Cash Equivalent [Line Items] | ||
Deposit accounts | 83 | |
South Indian Bank, India | ||
Cash And Cash Equivalent [Line Items] | ||
Deposit accounts | 69 | 69 |
Standard Chartered Bank | ||
Cash And Cash Equivalent [Line Items] | ||
Deposit accounts | 77 | |
Syndicate Bank | ||
Cash And Cash Equivalent [Line Items] | ||
Deposit accounts | 8 | |
Yes Bank, India | ||
Cash And Cash Equivalent [Line Items] | ||
Deposit accounts | 1 | 98 |
HDFC Limited, India | ||
Cash And Cash Equivalent [Line Items] | ||
Deposits with financial institution | 836 | 1,085 |
LIC Housing Finance Limited | ||
Cash And Cash Equivalent [Line Items] | ||
Deposits with financial institution | $ 184 | $ 108 |
Investments - Schedule of Carry
Investments - Schedule of Carrying Value of Investments (Details) - USD ($) $ in Millions | Mar. 31, 2018 | Mar. 31, 2017 |
Disclosure Of Investments Other Than Investments Accounted For Using Equity Method [Line Items] | ||
Carrying value of investments, Current | $ 982 | $ 1,538 |
Carrying value of investments, Non-Current | 883 | 984 |
Total Investments | 1,865 | 2,522 |
Investment carried at amortized cost | 291 | 295 |
Investments carried at fair value through other comprehensive income | 1,484 | 1,857 |
Investments carried at fair value through profit and loss | 90 | 370 |
Cost | Quoted Debt Securities | ||
Disclosure Of Investments Other Than Investments Accounted For Using Equity Method [Line Items] | ||
Carrying value of investments, Current | 2 | |
Carrying value of investments, Non-Current | 291 | 293 |
Fair Value | Fixed Maturity Plan Securities | ||
Disclosure Of Investments Other Than Investments Accounted For Using Equity Method [Line Items] | ||
Carrying value of investments, Current | 23 | |
Carrying value of investments, Non-Current | 66 | 63 |
Fair Value | Commercial Paper | ||
Disclosure Of Investments Other Than Investments Accounted For Using Equity Method [Line Items] | ||
Carrying value of investments, Current | 45 | |
Fair Value | Certificates of Deposit | ||
Disclosure Of Investments Other Than Investments Accounted For Using Equity Method [Line Items] | ||
Carrying value of investments, Current | 808 | 1,219 |
Fair Value | Others | ||
Disclosure Of Investments Other Than Investments Accounted For Using Equity Method [Line Items] | ||
Carrying value of investments, Non-Current | 10 | 5 |
Fair Value | Quoted Debt Securities | Fair Value Through Other Comprehensive Income | ||
Disclosure Of Investments Other Than Investments Accounted For Using Equity Method [Line Items] | ||
Carrying value of investments, Current | 117 | 16 |
Carrying value of investments, Non-Current | 493 | 597 |
Fair Value | Liquid Mutual Funds | Fair Value Through Profit or Loss [Member] | ||
Disclosure Of Investments Other Than Investments Accounted For Using Equity Method [Line Items] | ||
Carrying value of investments, Current | 12 | 278 |
Fair Value | Unquoted Equity and Preference Securities | ||
Disclosure Of Investments Other Than Investments Accounted For Using Equity Method [Line Items] | ||
Carrying value of investments, Non-Current | 21 | 25 |
Fair Value | Unquoted Convertible Promissory Note | Fair Value Through Profit or Loss [Member] | ||
Disclosure Of Investments Other Than Investments Accounted For Using Equity Method [Line Items] | ||
Carrying value of investments, Non-Current | $ 2 | $ 1 |
Investments - Schedule of Car56
Investments - Schedule of Carrying Value of Investments (Parentheticals) (Details) - USD ($) $ in Millions | Mar. 31, 2018 | Mar. 31, 2017 |
Disclosure Of Investments Other Than Investments Accounted For Using Equity Method [Abstract] | ||
Uncalled capital commitments outstanding | $ 12 | $ 18 |
Investments - Schedule of Amoun
Investments - Schedule of Amounts Recorded in Other Comprehensive Income (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Disclosure Of Analysis Of Other Comprehensive Income By Item [Line Items] | |||
Other comprehensive income, Net | $ (2) | $ 6 | |
Quoted Debt Securities | |||
Disclosure Of Analysis Of Other Comprehensive Income By Item [Line Items] | |||
Other comprehensive income, Gross | $ (2) | (1) | 7 |
Other comprehensive income, Tax | (1) | ||
Other comprehensive income, Net | (2) | (1) | $ 6 |
Certificates of Deposit | |||
Disclosure Of Analysis Of Other Comprehensive Income By Item [Line Items] | |||
Other comprehensive income, Gross | 3 | (1) | |
Other comprehensive income, Tax | (1) | ||
Other comprehensive income, Net | 2 | (1) | |
Unquoted Equity and Preference Securities | |||
Disclosure Of Analysis Of Other Comprehensive Income By Item [Line Items] | |||
Other comprehensive income, Gross | 1 | (1) | |
Other comprehensive income, Net | $ 1 | $ (1) |
Investments - Schedule of Metho
Investments - Schedule of Method of Fair Valuation (Details) - USD ($) $ in Millions | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||
Fair value | $ 1,904 | $ 2,561 |
Mutual Funds | ||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||
Method | Quoted price | |
Fair value | $ 12 | 278 |
Fixed Maturity Plan Securities | ||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||
Method | Market observable inputs | |
Fair value | $ 66 | 86 |
Quoted Debt Securities- Carried at Amortized Cost | ||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||
Method | Quoted price and market observable inputs | |
Fair value | $ 330 | 334 |
Quoted Debt Securities Carried At F V O C I | ||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||
Method | Quoted price and market observable inputs | |
Fair value | $ 610 | 613 |
Commercial Paper | ||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||
Method | Market observable inputs | |
Fair value | $ 45 | |
Certificates of Deposit | ||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||
Method | Market observable inputs | |
Fair value | $ 808 | 1,219 |
Unquoted Equity and Preference Securities | ||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||
Method | Discounted cash flows method, Market multiples method, Option pricing model | |
Fair value | $ 21 | 25 |
Unquoted Convertible Promissory Note | ||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||
Method | Discounted cash flows method, Market multiples method, Option pricing model | |
Fair value | $ 2 | 1 |
Others | ||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||
Method | Discounted cash flows method, Market multiples method, Option pricing model | |
Fair value | $ 10 | $ 5 |
Financial Instruments - Additio
Financial Instruments - Additional Information (Details) | 12 Months Ended | ||
Mar. 31, 2018USD ($)d | Mar. 31, 2017USD ($)d | Mar. 31, 2016USD ($) | |
Disclosure Of Financial Instruments [Line Items] | |||
Cumulative impact on reversal of unrealized gain on quoted debt securities on adoption of IFRS 9 | $ 5,000,000 | ||
Debt securities, transferred from Level 1 to Level 2 of fair value hierarchy | $ 130,000,000 | ||
Debt securities, transferred from Level 2 to Level 1 of fair value hierarchy | $ 276,000,000 | ||
Description of reasons for transfers out of level 1 in to level 2 of fair value hierarchy assets | During the year ended March 31, 2018, quoted debt securities of $130 million were transferred from Level 1 to Level 2 of fair value hierarchy, since these were valued based on market observable inputs and quoted debt securities of $276 million were transferred from Level 2 to Level 1 of fair value hierarchy, since these were valued based on quoted price. | ||
Percentage point change in unobservable inputs used in fair valuation of Level 3 assets and liabilities that does not have significant impact | 1.00% | 1.00% | |
Exchange rate differences, percentage effect on incremental operating margins | 0.50% | 0.50% | 0.50% |
Net gain recognized on derivative financial instruments | $ 89,000,000 | $ 4,000,000 | |
Derivative maturity description | 12 months | ||
Maximum exposure to credit risk from trade receivables | $ 2,016,000,000 | 1,900,000,000 | |
Unbilled revenue | 654,000,000 | 562,000,000 | |
Impairment loss on financial assets | $ 5,000,000 | $ 20,000,000 | $ (7,000,000) |
Days Sales Outstanding- DSO | d | 67 | 68 | |
Outstanding bank borrowings | $ 0 | ||
Working capital | 5,243,000,000 | $ 6,121,000,000 | |
Cash and cash equivalents | 3,041,000,000 | 3,489,000,000 | |
Current investments | 982,000,000 | 1,538,000,000 | |
Outstanding employee benefit obligations | 225,000,000 | 209,000,000 | |
Liquidity Risk | 0 | $ 0 | |
Top of Range | |||
Disclosure Of Financial Instruments [Line Items] | |||
Net gain recognized on derivative financial instruments | $ 1,000,000 |
Financial Instruments - Schedul
Financial Instruments - Schedule of Carrying Value and Fair Value of Financial Instruments by Categories (Details) - USD ($) $ in Millions | Mar. 31, 2018 | Mar. 31, 2017 |
Disclosure Of Financial Instruments [Line Items] | ||
Financial assets amortised cost | $ 6,458 | $ 6,656 |
Financial assets at fair value through profit or loss mandatory | 90 | 406 |
Financial assets at fair value through OCI equity instruments designated upon initial recognition | 21 | 25 |
Financial assets at fair value through OCI mandatory | 1,465 | 1,840 |
Financial assets total carrying value | 8,034 | 8,927 |
Financial assets total fair value | 8,060 | 8,953 |
Financial liabilities amortised cost | 943 | 825 |
Financial liabilities at fair value through profit or loss mandatory | 14 | 13 |
Financial liabilities total carrying value | 957 | 838 |
Financial liabilities total fair value | 957 | 838 |
Trade Payables | ||
Disclosure Of Financial Instruments [Line Items] | ||
Financial liabilities amortised cost | 107 | 57 |
Financial liabilities total carrying value | 107 | 57 |
Financial liabilities total fair value | 107 | 57 |
Other Liabilities Including Contingent Consideration | ||
Disclosure Of Financial Instruments [Line Items] | ||
Financial liabilities amortised cost | 836 | 768 |
Financial liabilities at fair value through profit or loss mandatory | 8 | 13 |
Financial liabilities total carrying value | 844 | 781 |
Financial liabilities total fair value | 844 | 781 |
Cash and Cash Equivalents | ||
Disclosure Of Financial Instruments [Line Items] | ||
Financial assets amortised cost | 3,041 | 3,489 |
Financial assets total carrying value | 3,041 | 3,489 |
Financial assets total fair value | 3,041 | 3,489 |
Liquid Mutual Funds | Investments | ||
Disclosure Of Financial Instruments [Line Items] | ||
Financial assets at fair value through profit or loss mandatory | 12 | 278 |
Financial assets total carrying value | 12 | 278 |
Financial assets total fair value | 12 | 278 |
Fixed Maturity Plan Securities | ||
Disclosure Of Financial Instruments [Line Items] | ||
Financial assets total fair value | 66 | 86 |
Fixed Maturity Plan Securities | Investments | ||
Disclosure Of Financial Instruments [Line Items] | ||
Financial assets at fair value through profit or loss mandatory | 66 | 86 |
Financial assets total carrying value | 66 | 86 |
Financial assets total fair value | 66 | 86 |
Quoted Debt Securities | Investments | ||
Disclosure Of Financial Instruments [Line Items] | ||
Financial assets amortised cost | 291 | 295 |
Financial assets at fair value through OCI mandatory | 610 | 613 |
Financial assets total carrying value | 901 | 908 |
Financial assets total fair value | 940 | 947 |
Certificates of Deposit | ||
Disclosure Of Financial Instruments [Line Items] | ||
Financial assets total fair value | 808 | 1,219 |
Certificates of Deposit | Investments | ||
Disclosure Of Financial Instruments [Line Items] | ||
Financial assets at fair value through OCI mandatory | 808 | 1,219 |
Financial assets total carrying value | 808 | 1,219 |
Financial assets total fair value | 808 | 1,219 |
Commercial Paper | ||
Disclosure Of Financial Instruments [Line Items] | ||
Financial assets at fair value through OCI mandatory | 45 | |
Financial assets total carrying value | 45 | |
Financial assets total fair value | 45 | |
Unquoted Equity and Preference Securities | ||
Disclosure Of Financial Instruments [Line Items] | ||
Financial assets at fair value through OCI equity instruments designated upon initial recognition | 21 | 25 |
Financial assets total carrying value | 21 | 25 |
Financial assets total fair value | 21 | 25 |
Unquoted Investments Others | ||
Disclosure Of Financial Instruments [Line Items] | ||
Financial assets at fair value through profit or loss mandatory | 10 | 5 |
Financial assets total carrying value | 10 | 5 |
Financial assets total fair value | 10 | 5 |
Unquoted Convertible Promissory Note | ||
Disclosure Of Financial Instruments [Line Items] | ||
Financial assets at fair value through profit or loss mandatory | 2 | 1 |
Financial assets total carrying value | 2 | 1 |
Financial assets total fair value | 2 | 1 |
Trade Receivables | ||
Disclosure Of Financial Instruments [Line Items] | ||
Financial assets amortised cost | 2,016 | 1,900 |
Financial assets total carrying value | 2,016 | 1,900 |
Financial assets total fair value | 2,016 | 1,900 |
Unbilled Revenues | ||
Disclosure Of Financial Instruments [Line Items] | ||
Financial assets amortised cost | 654 | 562 |
Financial assets total carrying value | 654 | 562 |
Financial assets total fair value | 654 | 562 |
Prepayments and Other Assets | ||
Disclosure Of Financial Instruments [Line Items] | ||
Financial assets amortised cost | 456 | 410 |
Financial assets total carrying value | 456 | 410 |
Financial assets total fair value | 443 | 397 |
Derivative Financial Instruments | ||
Disclosure Of Financial Instruments [Line Items] | ||
Financial assets at fair value through profit or loss mandatory | 36 | |
Financial assets at fair value through OCI mandatory | 2 | 8 |
Financial assets total carrying value | 2 | 44 |
Financial assets total fair value | 2 | $ 44 |
Financial liabilities at fair value through profit or loss mandatory | 6 | |
Financial liabilities total carrying value | 6 | |
Financial liabilities total fair value | $ 6 |
Financial Instruments - Sched61
Financial Instruments - Schedule of Fair Value Hierarchy of Assets and Liabilities (Details) - USD ($) $ in Millions | Mar. 31, 2018 | Mar. 31, 2017 |
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | $ 8,060 | $ 8,953 |
Financial liabilities | 957 | 838 |
Liability towards contingent consideration (Refer note 2.5) | 8 | 13 |
Liquid Mutual Fund | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 12 | 278 |
Fixed Maturity Plan Securities | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 66 | 86 |
Fixed Maturity Plan Securities | Investments | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 66 | 86 |
Quoted Debt Securities | Investments | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 940 | 947 |
Certificates of Deposit | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 808 | 1,219 |
Certificates of Deposit | Investments | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 808 | 1,219 |
Commercial Paper | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 45 | |
Unquoted Equity and Preference Securities | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 21 | 25 |
Unquoted Investments Others | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 10 | 5 |
Unquoted Convertible Promissory Note | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 2 | 1 |
Derivative Financial Instruments | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 2 | 44 |
Financial liabilities | 6 | |
Level 1 | Liquid Mutual Fund | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 12 | 278 |
Level 1 | Quoted Debt Securities | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 701 | 565 |
Level 2 | Fixed Maturity Plan Securities | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 66 | 86 |
Level 2 | Quoted Debt Securities | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 239 | 382 |
Level 2 | Certificates of Deposit | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 808 | 1,219 |
Level 2 | Commercial Paper | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 45 | |
Level 2 | Derivative Financial Instruments | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 2 | 44 |
Financial liabilities | 6 | |
Level 3 | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Liability towards contingent consideration (Refer note 2.5) | 8 | 13 |
Level 3 | Unquoted Equity and Preference Securities | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 21 | 25 |
Level 3 | Unquoted Investments Others | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 10 | 5 |
Level 3 | Unquoted Convertible Promissory Note | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | $ 2 | $ 1 |
Financial Instruments - Sched62
Financial Instruments - Schedule of Fair Value Hierarchy of Assets and Liabilities (Parenthetical) (Details) - Other Liabilities Including Contingent Consideration - USD ($) $ in Millions | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Undiscounted contingent consideration pertaining to acquisition | $ 14 | |
Contingent consideration discount rate | 14.20% | |
Brilliant Basics Holdings Limited | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Undiscounted contingent consideration pertaining to acquisition | $ 3 | |
Contingent consideration discount rate | 10.00% |
Financial Instruments - Summary
Financial Instruments - Summary of Income from Financial Assets (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Income Expense Gains Or Losses Of Financial Instruments [Abstract] | |||
Interest income on financial assets carried at amortized cost | $ 260 | $ 352 | $ 402 |
Interest income on financial assets fair valued through other comprehensive income | 106 | 28 | |
Dividend income on investments carried at fair value through profit or loss | 1 | 4 | 10 |
Gain / (loss) on investments carried at fair value through profit or loss | 39 | 18 | |
Income from financial assets or liabilities | $ 406 | $ 402 | $ 412 |
Financial Instruments - Sched64
Financial Instruments - Schedule of Analysis of Foreign Currency Risk from Financial Instruments (Details) - USD ($) $ in Millions | Mar. 31, 2018 | Mar. 31, 2017 |
Disclosure Of Financial Instruments [Line Items] | ||
Cash and cash equivalents | $ 3,041 | $ 3,489 |
Trade receivables | 2,016 | 1,900 |
Unbilled revenues | 654 | 562 |
Trade payables | (107) | (57) |
Employee benefit obligations | (225) | (209) |
Other liabilities | (1,078) | (978) |
Foreign Currency Risk | ||
Disclosure Of Financial Instruments [Line Items] | ||
Cash and cash equivalents | 490 | 368 |
Trade receivables | 1,915 | 1,793 |
Unbilled revenues | 581 | 560 |
Other assets | 74 | 108 |
Trade payables | (85) | (50) |
Accrued expenses | (244) | (231) |
Employee benefit obligations | (153) | (144) |
Other liabilities | (184) | (166) |
Net assets / (liabilities) | 2,394 | 2,238 |
Foreign Currency Risk | U.S. Dollars | ||
Disclosure Of Financial Instruments [Line Items] | ||
Cash and cash equivalents | 197 | 206 |
Trade receivables | 1,276 | 1,287 |
Unbilled revenues | 356 | 376 |
Other assets | 49 | 65 |
Trade payables | (42) | (18) |
Accrued expenses | (166) | (147) |
Employee benefit obligations | (88) | (86) |
Other liabilities | (97) | (96) |
Net assets / (liabilities) | 1,485 | 1,587 |
Foreign Currency Risk | Euro | ||
Disclosure Of Financial Instruments [Line Items] | ||
Cash and cash equivalents | 33 | 20 |
Trade receivables | 269 | 192 |
Unbilled revenues | 98 | 68 |
Other assets | 4 | 15 |
Trade payables | (12) | (5) |
Accrued expenses | (29) | (33) |
Employee benefit obligations | (13) | (13) |
Other liabilities | (21) | (17) |
Net assets / (liabilities) | 329 | 227 |
Foreign Currency Risk | United Kingdom Pound Sterling | ||
Disclosure Of Financial Instruments [Line Items] | ||
Cash and cash equivalents | 23 | 6 |
Trade receivables | 129 | 119 |
Unbilled revenues | 46 | 50 |
Other assets | 4 | 7 |
Trade payables | (17) | (2) |
Accrued expenses | (17) | (22) |
Employee benefit obligations | (4) | (3) |
Other liabilities | (12) | (7) |
Net assets / (liabilities) | 152 | 148 |
Foreign Currency Risk | Australian Dollars | ||
Disclosure Of Financial Instruments [Line Items] | ||
Cash and cash equivalents | 54 | 28 |
Trade receivables | 121 | 87 |
Unbilled revenues | 24 | 19 |
Other assets | 2 | 6 |
Trade payables | (5) | (1) |
Accrued expenses | (9) | (6) |
Employee benefit obligations | (28) | (23) |
Other liabilities | (5) | (3) |
Net assets / (liabilities) | 154 | 107 |
Foreign Currency Risk | Other Currencies | ||
Disclosure Of Financial Instruments [Line Items] | ||
Cash and cash equivalents | 183 | 108 |
Trade receivables | 120 | 108 |
Unbilled revenues | 57 | 47 |
Other assets | 15 | 15 |
Trade payables | (9) | (24) |
Accrued expenses | (23) | (23) |
Employee benefit obligations | (20) | (19) |
Other liabilities | (49) | (43) |
Net assets / (liabilities) | $ 274 | $ 169 |
Financial Instruments - Summa65
Financial Instruments - Summary of Outstanding Foreign Forward and Options Contract (Details) € in Millions, ¥ in Millions, £ in Millions, kr in Millions, kr in Millions, SFr in Millions, R in Millions, $ in Millions, $ in Millions, $ in Millions, $ in Millions, $ in Millions | Mar. 31, 2018USD ($)EUR (€)GBP (£)AUD ($)CAD ($)JPY (¥)NZD ($)NOK (kr)SGD ($)ZAR (R)SEK (kr)CHF (SFr) | Mar. 31, 2017USD ($)EUR (€)GBP (£)AUD ($)CAD ($)SGD ($)SEK (kr)CHF (SFr) |
Derivatives Designated as Cash Flow Hedges | Forward contracts | Euro | ||
Disclosure Of Financial Instruments [Line Items] | ||
Nominal value | € | 95 | |
Derivatives Designated as Cash Flow Hedges | Forward contracts | United Kingdom Pound Sterling | ||
Disclosure Of Financial Instruments [Line Items] | ||
Nominal value | £ | 40 | |
Derivatives Designated as Cash Flow Hedges | Forward contracts | Australian Dollars | ||
Disclosure Of Financial Instruments [Line Items] | ||
Nominal value | 130 | |
Derivatives Designated as Cash Flow Hedges | Option contracts | Euro | ||
Disclosure Of Financial Instruments [Line Items] | ||
Nominal value | € | 100 | 40 |
Derivatives Designated as Cash Flow Hedges | Option contracts | United Kingdom Pound Sterling | ||
Disclosure Of Financial Instruments [Line Items] | ||
Nominal value | £ | 20 | |
Derivatives Designated as Cash Flow Hedges | Option contracts | Australian Dollars | ||
Disclosure Of Financial Instruments [Line Items] | ||
Nominal value | 60 | |
Other Derivatives | Forward contracts | Euro | ||
Disclosure Of Financial Instruments [Line Items] | ||
Nominal value | € | 91 | 114 |
Other Derivatives | Forward contracts | United Kingdom Pound Sterling | ||
Disclosure Of Financial Instruments [Line Items] | ||
Nominal value | £ | 51 | 75 |
Other Derivatives | Forward contracts | Australian Dollars | ||
Disclosure Of Financial Instruments [Line Items] | ||
Nominal value | 5 | 35 |
Other Derivatives | Forward contracts | U.S. Dollars | ||
Disclosure Of Financial Instruments [Line Items] | ||
Nominal value | 623 | 526 |
Other Derivatives | Forward contracts | Swiss Franc | ||
Disclosure Of Financial Instruments [Line Items] | ||
Nominal value | SFr | 21 | 10 |
Other Derivatives | Forward contracts | Japanese Yen | ||
Disclosure Of Financial Instruments [Line Items] | ||
Nominal value | ¥ | 550 | |
Other Derivatives | Forward contracts | Singapore dollars | ||
Disclosure Of Financial Instruments [Line Items] | ||
Nominal value | 5 | 5 |
Other Derivatives | Forward contracts | New Zealand dollars | ||
Disclosure Of Financial Instruments [Line Items] | ||
Nominal value | 16 | |
Other Derivatives | Forward contracts | Swedish Krona | ||
Disclosure Of Financial Instruments [Line Items] | ||
Nominal value | kr | 50 | 50 |
Other Derivatives | Forward contracts | Norwegian Krone | ||
Disclosure Of Financial Instruments [Line Items] | ||
Nominal value | kr | 40 | |
Other Derivatives | Forward contracts | South African Rand | ||
Disclosure Of Financial Instruments [Line Items] | ||
Nominal value | R | 25 | |
Other Derivatives | Forward contracts | Canadian dollars | ||
Disclosure Of Financial Instruments [Line Items] | ||
Nominal value | 20 | |
Other Derivatives | Option contracts | Euro | ||
Disclosure Of Financial Instruments [Line Items] | ||
Nominal value | € | 45 | 25 |
Other Derivatives | Option contracts | United Kingdom Pound Sterling | ||
Disclosure Of Financial Instruments [Line Items] | ||
Nominal value | £ | 25 | 30 |
Other Derivatives | Option contracts | Australian Dollars | ||
Disclosure Of Financial Instruments [Line Items] | ||
Nominal value | 20 | |
Other Derivatives | Option contracts | U.S. Dollars | ||
Disclosure Of Financial Instruments [Line Items] | ||
Nominal value | 320 | 195 |
Other Derivatives | Option contracts | Swiss Franc | ||
Disclosure Of Financial Instruments [Line Items] | ||
Nominal value | SFr | 5 | |
Other Derivatives | Option contracts | Canadian dollars | ||
Disclosure Of Financial Instruments [Line Items] | ||
Nominal value | 13 |
Financial Instruments - Summa66
Financial Instruments - Summary of Derivative Financial Instruments into Relevant Maturity Groupings (Details) - Exchange Forward And Option Contracts - USD ($) $ in Millions | Mar. 31, 2018 | Mar. 31, 2017 |
Disclosure Of Financial Instruments [Line Items] | ||
Nominal value | 1,513 | 1,350 |
Not later than one month [member] | ||
Disclosure Of Financial Instruments [Line Items] | ||
Nominal value | 434 | 355 |
Later than one month and not later than three months [member] | ||
Disclosure Of Financial Instruments [Line Items] | ||
Nominal value | 701 | 666 |
Later than three months and not later than one year [member] | ||
Disclosure Of Financial Instruments [Line Items] | ||
Nominal value | 378 | 329 |
Financial Instruments - Summa67
Financial Instruments - Summary of Reconciliation of Cash Flow Hedge Reserve (Details) - USD ($) $ in Millions | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Disclosure Of Financial Instruments [Abstract] | ||
Balance at the beginning of the period | $ 6 | |
Gain / (Loss) recognized in other comprehensive income during the period | (14) | $ 18 |
Amount reclassified to profit or loss during the period | 6 | (10) |
Tax impact on above | $ 2 | (2) |
Balance at the end of the period | $ 6 |
Financial Instruments - Summa68
Financial Instruments - Summary of Quantitative Information About Offsetting of Derivative Financial Assets And Derivative Financial Liabilities (Details) - USD ($) $ in Millions | Mar. 31, 2018 | Mar. 31, 2017 |
Disclosure Of Financial Instruments [Abstract] | ||
Gross amount of recognized financial asset/liability | $ 3 | $ 44 |
Amount set off | (1) | |
Net amount presented in balance sheet | 2 | $ 44 |
Gross amount of recognized financial asset/liability | (7) | |
Amount set off | 1 | |
Net amount presented in balance sheet | $ (6) |
Financial Instruments - Summa69
Financial Instruments - Summary of Percentage of Revenues (Details) | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Disclosure Of Financial Instruments [Abstract] | |||
Revenue from top customer | 3.40% | 3.40% | 3.60% |
Revenue from top ten customers | 19.30% | 21.00% | 22.50% |
Financial Instruments - Summa70
Financial Instruments - Summary of Credit Risk Exposure (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Disclosure Of Financial Instruments [Abstract] | |||
Balance at the beginning | $ 63 | $ 44 | $ 59 |
Translation differences | 2 | (1) | (3) |
Impairment loss recognized/(reversed) | 5 | 20 | (7) |
Write offs | (1) | (5) | |
Balance at the end | $ 69 | $ 63 | $ 44 |
Financial Instruments - Summa71
Financial Instruments - Summary of Credit Receivable (Details) - USD ($) $ in Millions | Mar. 31, 2018 | Mar. 31, 2017 |
Disclosure Of Financial Instruments [Abstract] | ||
Trade receivables | $ 2,016 | $ 1,900 |
Unbilled revenues | $ 654 | $ 562 |
Financial Instruments - Summa72
Financial Instruments - Summary of Contractual Maturities of Significant Financial Liabilities (Details) - USD ($) $ in Millions | Mar. 31, 2018 | Mar. 31, 2017 |
Disclosure Of Financial Instruments [Line Items] | ||
Trade payables | $ 107 | $ 57 |
Other liabilities (excluding liabilities towards contingent consideration - Refer to note 2.5) | 836 | 768 |
Liability towards contingent consideration on an undiscounted basis - (Refer to Note 2.5) | 8 | 14 |
Less Than 1 Year | ||
Disclosure Of Financial Instruments [Line Items] | ||
Trade payables | 107 | 57 |
Other liabilities (excluding liabilities towards contingent consideration - Refer to note 2.5) | 836 | 763 |
Liability towards contingent consideration on an undiscounted basis - (Refer to Note 2.5) | 6 | 7 |
1-2 Years | ||
Disclosure Of Financial Instruments [Line Items] | ||
Other liabilities (excluding liabilities towards contingent consideration - Refer to note 2.5) | 5 | |
Liability towards contingent consideration on an undiscounted basis - (Refer to Note 2.5) | 1 | $ 7 |
2-4 Years | ||
Disclosure Of Financial Instruments [Line Items] | ||
Liability towards contingent consideration on an undiscounted basis - (Refer to Note 2.5) | $ 1 |
Prepayments and Other Assets -
Prepayments and Other Assets - Schedule of Prepayment and Other Assets (Details) - USD ($) $ in Millions | Mar. 31, 2018 | Mar. 31, 2017 |
Current assets | ||
Rental deposits | $ 2 | $ 1 |
Security deposits | 1 | 2 |
Loans to employees | 37 | 42 |
Prepaid expenses | 72 | 68 |
Interest accrued and not due | 117 | 89 |
Withholding taxes and others | 158 | 291 |
Advance payments to vendors for supply of goods | 18 | 20 |
Deposit with corporation | 236 | 218 |
Deferred contract cost | 7 | 12 |
Other assets | 14 | 6 |
Current prepayments and other assets | 662 | 749 |
Non-current assets | ||
Loans to employees | 6 | 5 |
Security deposits | 8 | 13 |
Deposit with corporation | 9 | 7 |
Prepaid gratuity (Refer note 2.11.1) | 7 | 12 |
Prepaid expenses | 17 | 15 |
Deferred contract cost | 40 | 44 |
Withholding taxes and others | 219 | |
Rental deposits | 26 | 27 |
Non-current prepayments and other assets | 332 | 123 |
Total prepayments and other assets | 994 | 872 |
Financial assets in prepayments and other assets | $ 456 | $ 410 |
Other Liabilities - Schedule of
Other Liabilities - Schedule of Other Liabilities (Details) - USD ($) $ in Millions | Mar. 31, 2018 | Mar. 31, 2017 |
Current | ||
Accrued compensation to employees | $ 385 | $ 290 |
Accrued expenses | 376 | 399 |
Withholding taxes and others | 190 | 189 |
Retention money | 20 | 34 |
Liabilities of controlled trusts | 21 | 22 |
Liability towards contingent consideration (Refer note 2.9) | 6 | 7 |
Deferred rent | 4 | |
Others | 34 | 13 |
Other current liabilities | 1,036 | 954 |
Non-current | ||
Liability towards contingent consideration (Refer note 2.9) | 2 | 6 |
Accrued compensation to employees | 5 | |
Accrued gratuity (Refer note 2.12.1) (1) | 4 | |
Deferred income - government grant on land use rights | 7 | 6 |
Deferred income | 5 | 7 |
Deferred rent | 24 | |
Other non-current liabilities | 42 | 24 |
Other liabilities | 1,078 | 978 |
Financial liabilities included in other liabilities | 844 | 776 |
Contingent consideration on undiscounted basis | $ 8 | $ 14 |
Provisions - Schedule of Provis
Provisions - Schedule of Provisions (Details) - USD ($) $ in Millions | Mar. 31, 2018 | Mar. 31, 2017 |
Disclosure Of Other Provisions [Abstract] | ||
Provision for post sales client support and other provisions | $ 75 | $ 63 |
Provisions - Additional Informa
Provisions - Additional Information (Details) ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2018USD ($) | Mar. 31, 2018INR (₨) | Mar. 31, 2017USD ($) | Mar. 31, 2017INR (₨) | |
Tax Other Than Income Tax Contingent Liability | ||||
Disclosure Of Provisions [Line Items] | ||||
Claims (excluding demands from Income tax authorities) | $ 40 | ₨ 2,600 | $ 46 | ₨ 3,010 |
Provision for Post Sales Client Support and Other Provisions | ||||
Disclosure Of Provisions [Line Items] | ||||
Description of expected period to be utilized | 6 months to 1 year |
Provisions - Summary of Movemen
Provisions - Summary of Movement in the Provision for Post Sales Client Support and Other Provisions (Details) $ in Millions | 12 Months Ended |
Mar. 31, 2018USD ($) | |
Disclosure Of Other Provisions [Abstract] | |
Balance at the beginning | $ 63 |
Provision recognized / (reversed) | 22 |
Provision utilized | (10) |
Balance at the end | $ 75 |
Property, Plant and Equipment -
Property, Plant and Equipment - Schedule of Estimated Useful Lives of Assets (Detail) | 12 Months Ended |
Mar. 31, 2018 | |
Buildings | Bottom of Range | |
Disclosure Of Property Plant And Equipment [Line Items] | |
Useful lives (in years) | 22 years |
Buildings | Top of Range | |
Disclosure Of Property Plant And Equipment [Line Items] | |
Useful lives (in years) | 25 years |
Plant and Machinery | |
Disclosure Of Property Plant And Equipment [Line Items] | |
Useful lives (in years) | 5 years |
Computer Equipment | Bottom of Range | |
Disclosure Of Property Plant And Equipment [Line Items] | |
Useful lives (in years) | 3 years |
Computer Equipment | Top of Range | |
Disclosure Of Property Plant And Equipment [Line Items] | |
Useful lives (in years) | 5 years |
Furniture and Fixtures | |
Disclosure Of Property Plant And Equipment [Line Items] | |
Useful lives (in years) | 5 years |
Vehicles | |
Disclosure Of Property Plant And Equipment [Line Items] | |
Useful lives (in years) | 5 years |
Leasehold Improvements | |
Disclosure Of Property Plant And Equipment [Line Items] | |
Useful lives (in years) | Over lease term |
Property, Plant and Equipment79
Property, Plant and Equipment - Schedule of Changes in Carrying Value of Property, Plant and Equipment (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2015 | |
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property, plant and equipment, Beginning balance | $ 1,807 | $ 1,589 | $ 1,460 | |
Capital work-in-progress | 311 | 303 | 286 | $ 230 |
Property, plant and equipment, Ending balance | 1,863 | 1,807 | 1,589 | |
Gross Carrying Value | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property, plant and equipment, Beginning balance | 2,827 | 2,428 | 2,257 | |
Additions | 302 | 420 | 362 | |
Deletions | (24) | (73) | (64) | |
Reclassified under held for sale (refer note 2.9) | (10) | |||
Translation difference | 1 | 52 | (127) | |
Property, plant and equipment, Ending balance | 3,096 | 2,827 | 2,428 | |
Accumulated Depreciation | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property, plant and equipment, Beginning balance | (1,323) | (1,125) | (1,027) | |
Deletions | 23 | 54 | 39 | |
Depreciation | (254) | (226) | (192) | |
Reclassified under held for sale (refer note 2.9) | 7 | |||
Translation difference | 3 | (26) | 55 | |
Property, plant and equipment, Ending balance | (1,544) | (1,323) | (1,125) | |
Land | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property, plant and equipment, Beginning balance | 268 | 241 | 247 | |
Property, plant and equipment, Ending balance | 287 | 268 | 241 | |
Land | Gross Carrying Value | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property, plant and equipment, Beginning balance | 272 | 244 | 250 | |
Additions | 21 | 22 | 9 | |
Translation difference | (1) | 6 | (15) | |
Property, plant and equipment, Ending balance | 292 | 272 | 244 | |
Land | Accumulated Depreciation | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property, plant and equipment, Beginning balance | (4) | (3) | (3) | |
Depreciation | (1) | (1) | (1) | |
Translation difference | 1 | |||
Property, plant and equipment, Ending balance | (5) | (4) | (3) | |
Buildings | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property, plant and equipment, Beginning balance | 747 | 623 | 623 | |
Property, plant and equipment, Ending balance | 830 | 747 | 623 | |
Buildings | Gross Carrying Value | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property, plant and equipment, Beginning balance | 1,123 | 955 | 940 | |
Additions | 122 | 147 | 68 | |
Translation difference | 2 | 21 | (53) | |
Property, plant and equipment, Ending balance | 1,247 | 1,123 | 955 | |
Buildings | Accumulated Depreciation | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property, plant and equipment, Beginning balance | (376) | (332) | (317) | |
Depreciation | (43) | (35) | (33) | |
Translation difference | 2 | (9) | 18 | |
Property, plant and equipment, Ending balance | (417) | (376) | (332) | |
Plant and Machinery | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property, plant and equipment, Beginning balance | 165 | 149 | 130 | |
Property, plant and equipment, Ending balance | 159 | 165 | 149 | |
Plant and Machinery | Gross Carrying Value | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property, plant and equipment, Beginning balance | 466 | 392 | 337 | |
Additions | 56 | 73 | 76 | |
Deletions | (3) | (8) | (1) | |
Translation difference | (1) | 9 | (20) | |
Property, plant and equipment, Ending balance | 518 | 466 | 392 | |
Plant and Machinery | Accumulated Depreciation | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property, plant and equipment, Beginning balance | (301) | (243) | (207) | |
Deletions | 2 | 5 | 1 | |
Depreciation | (62) | (57) | (49) | |
Translation difference | 2 | (6) | 12 | |
Property, plant and equipment, Ending balance | (359) | (301) | (243) | |
Computer Equipment | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property, plant and equipment, Beginning balance | 229 | 220 | 170 | |
Property, plant and equipment, Ending balance | 192 | 229 | 220 | |
Computer Equipment | Gross Carrying Value | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property, plant and equipment, Beginning balance | 700 | 615 | 535 | |
Additions | 73 | 120 | 168 | |
Deletions | (17) | (47) | (60) | |
Reclassified under held for sale (refer note 2.9) | (6) | |||
Translation difference | (1) | 12 | (28) | |
Property, plant and equipment, Ending balance | 749 | 700 | 615 | |
Computer Equipment | Accumulated Depreciation | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property, plant and equipment, Beginning balance | (471) | (395) | (365) | |
Deletions | 17 | 34 | 36 | |
Depreciation | (107) | (101) | (84) | |
Reclassified under held for sale (refer note 2.9) | 4 | |||
Translation difference | (9) | 18 | ||
Property, plant and equipment, Ending balance | (557) | (471) | (395) | |
Furniture and Fixtures | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property, plant and equipment, Beginning balance | 93 | 69 | 57 | |
Property, plant and equipment, Ending balance | 82 | 93 | 69 | |
Furniture and Fixtures | Gross Carrying Value | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property, plant and equipment, Beginning balance | 261 | 218 | 189 | |
Additions | 29 | 57 | 40 | |
Deletions | (3) | (17) | (1) | |
Reclassified under held for sale (refer note 2.9) | (4) | |||
Translation difference | 2 | 3 | (10) | |
Property, plant and equipment, Ending balance | 285 | 261 | 218 | |
Furniture and Fixtures | Accumulated Depreciation | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property, plant and equipment, Beginning balance | (168) | (149) | (132) | |
Deletions | 3 | 14 | 1 | |
Depreciation | (40) | (31) | (24) | |
Reclassified under held for sale (refer note 2.9) | 3 | |||
Translation difference | (1) | (2) | 6 | |
Property, plant and equipment, Ending balance | (203) | (168) | (149) | |
Vehicles | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property, plant and equipment, Beginning balance | 2 | 1 | 3 | |
Property, plant and equipment, Ending balance | 2 | 2 | 1 | |
Vehicles | Gross Carrying Value | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property, plant and equipment, Beginning balance | 5 | 4 | 6 | |
Additions | 1 | 1 | 1 | |
Deletions | (1) | (1) | (2) | |
Translation difference | 1 | (1) | ||
Property, plant and equipment, Ending balance | 5 | 5 | 4 | |
Vehicles | Accumulated Depreciation | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property, plant and equipment, Beginning balance | (3) | (3) | (3) | |
Deletions | 1 | 1 | 1 | |
Depreciation | (1) | (1) | (1) | |
Property, plant and equipment, Ending balance | $ (3) | $ (3) | $ (3) |
Property, Plant and Equipment80
Property, Plant and Equipment - Additional Information (Details) - USD ($) $ in Millions | Mar. 31, 2018 | Mar. 31, 2017 |
Disclosure Of Property Plant And Equipment [Abstract] | ||
Land acquired on lease | $ 98 | $ 99 |
Contractual commitments for capital expenditure | $ 223 | $ 177 |
Goodwill And Intangible Asset81
Goodwill And Intangible Assets - Summary of Changes In Carrying Amount of Goodwill (Details) - USD ($) $ in Millions | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Intangible Assets And Goodwill [Abstract] | ||
Carrying value at the beginning | $ 563 | $ 568 |
Goodwill on Brilliant Basics acquisition (Refer to note 2.9) | 5 | |
Goodwill reclassified under assets held for sale (Refer note no 2.9) | (247) | |
Translation differences | 18 | (5) |
Carrying value at the end | $ 339 | $ 563 |
Goodwill And Intangible Asset82
Goodwill And Intangible Assets - Summary of Allocation of Goodwill to Operating Segments (Details) - USD ($) $ in Millions | Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 |
Disclosure Of Information For Individual Asset Or Cashgenerating Unit With Significant Amount Of Goodwill Or Intangible Assets With Indefinite Useful Lives [Line Items] | |||
Goodwill allocated to operating segments | $ 339 | $ 563 | $ 568 |
Financial Services | |||
Disclosure Of Information For Individual Asset Or Cashgenerating Unit With Significant Amount Of Goodwill Or Intangible Assets With Indefinite Useful Lives [Line Items] | |||
Goodwill allocated to operating segments | 73 | 127 | |
Manufacturing | |||
Disclosure Of Information For Individual Asset Or Cashgenerating Unit With Significant Amount Of Goodwill Or Intangible Assets With Indefinite Useful Lives [Line Items] | |||
Goodwill allocated to operating segments | 39 | 63 | |
Retail, Consumer Packaged Goods and Logistics | |||
Disclosure Of Information For Individual Asset Or Cashgenerating Unit With Significant Amount Of Goodwill Or Intangible Assets With Indefinite Useful Lives [Line Items] | |||
Goodwill allocated to operating segments | 48 | 86 | |
Life Sciences, Healthcare and Insurance | |||
Disclosure Of Information For Individual Asset Or Cashgenerating Unit With Significant Amount Of Goodwill Or Intangible Assets With Indefinite Useful Lives [Line Items] | |||
Goodwill allocated to operating segments | 68 | 98 | |
Energy & Utilities, Communication and Services | |||
Disclosure Of Information For Individual Asset Or Cashgenerating Unit With Significant Amount Of Goodwill Or Intangible Assets With Indefinite Useful Lives [Line Items] | |||
Goodwill allocated to operating segments | 72 | 118 | |
Operating Segments With Significant Goodwill | |||
Disclosure Of Information For Individual Asset Or Cashgenerating Unit With Significant Amount Of Goodwill Or Intangible Assets With Indefinite Useful Lives [Line Items] | |||
Goodwill allocated to operating segments | 300 | 492 | |
Aggregate Not Significant Individual Assets or Cash Generating Units | |||
Disclosure Of Information For Individual Asset Or Cashgenerating Unit With Significant Amount Of Goodwill Or Intangible Assets With Indefinite Useful Lives [Line Items] | |||
Goodwill allocated to operating segments | $ 39 | $ 71 |
Goodwill And Intangible Asset83
Goodwill And Intangible Assets - Additional Information (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Disclosure Of Intangible Assets [Line Items] | |||
Pre-tax cash flow projections, number of years | 5 years | ||
Research and development expense | $ 116 | $ 118 | $ 108 |
Software Technology Assets | |||
Disclosure Of Intangible Assets [Line Items] | |||
Estimated Useful Life (in years) | 3 years | 3 years | 8 years |
Accelerated amortization expense | $ 3 |
Goodwill And Intangible Asset84
Goodwill And Intangible Assets - Summary of Key Assumptions Used (Details) | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Disclosure Of Key Assumptions Used [Line Items] | ||
Discount rate | 13.50% | 14.40% |
Bottom of Range | ||
Disclosure Of Key Assumptions Used [Line Items] | ||
Long term growth rate | 8.00% | 8.00% |
Operating margins | 17.00% | 17.00% |
Top of Range | ||
Disclosure Of Key Assumptions Used [Line Items] | ||
Long term growth rate | 10.00% | 10.00% |
Operating margins | 20.00% | 20.00% |
Goodwill And Intangible Asset85
Goodwill And Intangible Assets - Summary of Changes In Carrying Amount of Acquired Intangible Assets (Details) $ in Millions | 12 Months Ended | ||
Mar. 31, 2018USD ($) | Mar. 31, 2017USD ($) | Mar. 31, 2016USD ($) | |
Disclosure Of Intangible Assets [Line Items] | |||
Intangible assets, Beginning balance | $ 120 | $ 149 | $ 102 |
Intangible assets, Ending balance | 38 | 120 | 149 |
Gross Carrying Value | |||
Disclosure Of Intangible Assets [Line Items] | |||
Intangible assets, Beginning balance | 215 | 217 | 143 |
Addition through business combination (refer note no. 2.9) | 2 | 76 | |
Deletion/ retirals | (39) | (2) | |
Reclassified under assets held for sale | (90) | ||
Translation differences | 2 | (2) | |
Intangible assets, Ending balance | 90 | 215 | 217 |
Accumulated Depreciation | |||
Disclosure Of Intangible Assets [Line Items] | |||
Intangible assets, Beginning balance | (95) | (68) | (41) |
Amortization expense | (35) | (28) | (30) |
Deletion/ retirals | 39 | 2 | |
Translation differences | (1) | 1 | 1 |
Intangible assets, Ending balance | (52) | (95) | (68) |
Reclassified under assets held for sale | 40 | ||
Customer related | |||
Disclosure Of Intangible Assets [Line Items] | |||
Intangible assets, Beginning balance | 57 | 71 | 46 |
Intangible assets, Ending balance | $ 24 | $ 57 | $ 71 |
Customer related | Bottom of Range | |||
Disclosure Of Intangible Assets [Line Items] | |||
Estimated Useful Life (in years) | 2 years | 3 years | 3 years |
Estimated Remaining Useful Life (in years) | 1 | 1 | 1 |
Customer related | Top of Range | |||
Disclosure Of Intangible Assets [Line Items] | |||
Estimated Useful Life (in years) | 10 years | 10 years | 10 years |
Estimated Remaining Useful Life (in years) | 5 | 6 | 7 |
Customer related | Gross Carrying Value | |||
Disclosure Of Intangible Assets [Line Items] | |||
Intangible assets, Beginning balance | $ 116 | $ 117 | $ 72 |
Addition through business combination (refer note no. 2.9) | 2 | 45 | |
Deletion/ retirals | (27) | ||
Reclassified under assets held for sale | (24) | ||
Translation differences | 1 | (1) | |
Intangible assets, Ending balance | 68 | 116 | 117 |
Customer related | Accumulated Depreciation | |||
Disclosure Of Intangible Assets [Line Items] | |||
Intangible assets, Beginning balance | (59) | (46) | (26) |
Amortization expense | (20) | (14) | (20) |
Deletion/ retirals | 27 | ||
Translation differences | (1) | 1 | |
Intangible assets, Ending balance | (44) | (59) | (46) |
Reclassified under assets held for sale | 9 | ||
Software related | |||
Disclosure Of Intangible Assets [Line Items] | |||
Intangible assets, Beginning balance | 43 | 53 | 39 |
Intangible assets, Ending balance | $ 43 | $ 53 | |
Software related | Bottom of Range | |||
Disclosure Of Intangible Assets [Line Items] | |||
Estimated Useful Life (in years) | 5 years | 8 years | |
Estimated Remaining Useful Life (in years) | 3 | 7 | |
Software related | Top of Range | |||
Disclosure Of Intangible Assets [Line Items] | |||
Estimated Useful Life (in years) | 8 years | 10 years | |
Estimated Remaining Useful Life (in years) | 6 | 9 | |
Software related | Gross Carrying Value | |||
Disclosure Of Intangible Assets [Line Items] | |||
Intangible assets, Beginning balance | 62 | $ 62 | $ 42 |
Addition through business combination (refer note no. 2.9) | 21 | ||
Reclassified under assets held for sale | (60) | ||
Translation differences | 1 | (1) | |
Intangible assets, Ending balance | 3 | 62 | 62 |
Software related | Accumulated Depreciation | |||
Disclosure Of Intangible Assets [Line Items] | |||
Intangible assets, Beginning balance | (19) | (9) | (3) |
Amortization expense | (12) | (9) | (6) |
Translation differences | (1) | ||
Intangible assets, Ending balance | (3) | (19) | (9) |
Reclassified under assets held for sale | 28 | ||
Sub-contracting right related | Gross Carrying Value | |||
Disclosure Of Intangible Assets [Line Items] | |||
Intangible assets, Beginning balance | 3 | 3 | 3 |
Deletion/ retirals | (3) | ||
Intangible assets, Ending balance | 3 | 3 | |
Sub-contracting right related | Accumulated Depreciation | |||
Disclosure Of Intangible Assets [Line Items] | |||
Intangible assets, Beginning balance | (3) | (3) | (3) |
Deletion/ retirals | 3 | ||
Intangible assets, Ending balance | (3) | (3) | |
Intellectual property rights related | Gross Carrying Value | |||
Disclosure Of Intangible Assets [Line Items] | |||
Intangible assets, Beginning balance | 2 | ||
Deletion/ retirals | (2) | ||
Intellectual property rights related | Accumulated Depreciation | |||
Disclosure Of Intangible Assets [Line Items] | |||
Intangible assets, Beginning balance | (2) | ||
Deletion/ retirals | 2 | ||
Land use rights related | |||
Disclosure Of Intangible Assets [Line Items] | |||
Intangible assets, Beginning balance | 9 | 10 | 10 |
Intangible assets, Ending balance | $ 10 | $ 9 | $ 10 |
Estimated Useful Life (in years) | 50 years | 50 years | 50 years |
Estimated Remaining Useful Life (in years) | 43 | 44 | 45 |
Land use rights related | Gross Carrying Value | |||
Disclosure Of Intangible Assets [Line Items] | |||
Intangible assets, Beginning balance | $ 10 | $ 11 | $ 11 |
Translation differences | 1 | (1) | |
Intangible assets, Ending balance | 11 | 10 | 11 |
Land use rights related | Accumulated Depreciation | |||
Disclosure Of Intangible Assets [Line Items] | |||
Intangible assets, Beginning balance | (1) | (1) | (1) |
Intangible assets, Ending balance | (1) | (1) | (1) |
Marketing Related | |||
Disclosure Of Intangible Assets [Line Items] | |||
Intangible assets, Beginning balance | 7 | 9 | 3 |
Intangible assets, Ending balance | $ 2 | $ 7 | $ 9 |
Estimated Useful Life (in years) | 5 years | ||
Estimated Remaining Useful Life (in years) | 3 | ||
Marketing Related | Bottom of Range | |||
Disclosure Of Intangible Assets [Line Items] | |||
Estimated Useful Life (in years) | 3 years | 3 years | |
Estimated Remaining Useful Life (in years) | 1 | 2 | |
Marketing Related | Top of Range | |||
Disclosure Of Intangible Assets [Line Items] | |||
Estimated Useful Life (in years) | 10 years | 10 years | |
Estimated Remaining Useful Life (in years) | 8 | 9 | |
Marketing Related | Gross Carrying Value | |||
Disclosure Of Intangible Assets [Line Items] | |||
Intangible assets, Beginning balance | $ 14 | $ 14 | $ 8 |
Addition through business combination (refer note no. 2.9) | 6 | ||
Deletion/ retirals | (4) | ||
Reclassified under assets held for sale | (6) | ||
Intangible assets, Ending balance | 4 | 14 | 14 |
Marketing Related | Accumulated Depreciation | |||
Disclosure Of Intangible Assets [Line Items] | |||
Intangible assets, Beginning balance | (7) | (5) | (5) |
Amortization expense | (2) | (2) | (1) |
Deletion/ retirals | 4 | ||
Translation differences | 1 | ||
Intangible assets, Ending balance | (2) | (7) | (5) |
Reclassified under assets held for sale | 3 | ||
Others | |||
Disclosure Of Intangible Assets [Line Items] | |||
Intangible assets, Beginning balance | 4 | 6 | 4 |
Intangible assets, Ending balance | $ 2 | $ 4 | $ 6 |
Estimated Useful Life (in years) | 5 years | ||
Estimated Remaining Useful Life (in years) | 3 | ||
Others | Bottom of Range | |||
Disclosure Of Intangible Assets [Line Items] | |||
Estimated Useful Life (in years) | 3 years | 3 years | |
Estimated Remaining Useful Life (in years) | 1 | 2 | |
Others | Top of Range | |||
Disclosure Of Intangible Assets [Line Items] | |||
Estimated Useful Life (in years) | 5 years | 5 years | |
Estimated Remaining Useful Life (in years) | 4 | 5 | |
Others | Gross Carrying Value | |||
Disclosure Of Intangible Assets [Line Items] | |||
Intangible assets, Beginning balance | $ 10 | $ 10 | $ 5 |
Addition through business combination (refer note no. 2.9) | 4 | ||
Deletion/ retirals | (5) | ||
Translation differences | (1) | 1 | |
Intangible assets, Ending balance | 4 | 10 | 10 |
Others | Accumulated Depreciation | |||
Disclosure Of Intangible Assets [Line Items] | |||
Intangible assets, Beginning balance | (6) | (4) | (1) |
Amortization expense | (1) | (3) | (3) |
Deletion/ retirals | 5 | ||
Translation differences | 1 | ||
Intangible assets, Ending balance | $ (2) | $ (6) | $ (4) |
Business Combinations and Dis86
Business Combinations and Disposal Group Held for Sale - Additional Information (Details) ₨ in Millions, $ in Millions | May 22, 2018USD ($) | Sep. 08, 2017USD ($) | Nov. 16, 2015USD ($) | Mar. 31, 2018USD ($) | Mar. 31, 2018INR (₨) | Mar. 31, 2016USD ($) | Oct. 25, 2017USD ($) | Oct. 25, 2017INR (₨) | Mar. 31, 2017USD ($) | Dec. 11, 2015USD ($)shares | Dec. 11, 2015INR (₨)shares | Jun. 02, 2015USD ($) | Apr. 24, 2015USD ($) | Apr. 24, 2015INR (₨) | Jul. 01, 2014USD ($) | Jul. 01, 2014INR (₨) |
Disclosure Of Business Combinations [Line Items] | ||||||||||||||||
Liability towards contingent consideration (Refer note 2.5) | $ 8 | $ 13 | ||||||||||||||
Goodwill | $ 339 | $ 568 | $ 563 | |||||||||||||
Description of non-current asset or disposal group held for sale which were sold or reclassified | Non-current assets and disposal groups are classified as held for sale if their carrying amount is intended to be recovered principally through sale rather than through continuing use. The condition for classification of held for sale is met when the non-current asset or the disposal group is available for immediate sale and the same is highly probable of being completed within one year from the date of classification as held for sale | Non-current assets and disposal groups are classified as held for sale if their carrying amount is intended to be recovered principally through sale rather than through continuing use. The condition for classification of held for sale is met when the non-current asset or the disposal group is available for immediate sale and the same is highly probable of being completed within one year from the date of classification as held for sale | ||||||||||||||
Reclassified to assets held for sale | $ 316 | |||||||||||||||
Reclassified to liabilities held for sale | 50 | |||||||||||||||
Reduction in fair value of disposal group held for sale | 18 | |||||||||||||||
Panaya Inc. | ||||||||||||||||
Disclosure Of Business Combinations [Line Items] | ||||||||||||||||
Reduction in fair value of disposal group held for sale | $ 18 | |||||||||||||||
Kallidus Inc | Acquisition Date, June 2, 2015 | ||||||||||||||||
Disclosure Of Business Combinations [Line Items] | ||||||||||||||||
Acquisition date | Jun. 2, 2015 | Jun. 2, 2015 | ||||||||||||||
Name of acquiree | Kallidus Inc | Kallidus Inc | ||||||||||||||
Percentage of voting interests | 100.00% | |||||||||||||||
Cash consideration | $ 91 | |||||||||||||||
Contingent consideration on acquisition, gross | 20 | |||||||||||||||
Trade receivables acquired | 9 | |||||||||||||||
Transaction cost related to the acquisition | $ 2 | |||||||||||||||
Total purchase price | 107 | |||||||||||||||
Customer contracts and relationships recognised | 27 | |||||||||||||||
Goodwill | $ 71 | |||||||||||||||
Kallidus Inc | Acquisition Date, June 2, 2015 | Skava Systems Private Limited | ||||||||||||||||
Disclosure Of Business Combinations [Line Items] | ||||||||||||||||
Percentage of voting interests | 100.00% | |||||||||||||||
Noah Consulting LLC | ||||||||||||||||
Disclosure Of Business Combinations [Line Items] | ||||||||||||||||
Acquisition date | Nov. 16, 2015 | Nov. 16, 2015 | ||||||||||||||
Name of acquiree | Noah Consulting, LLC | Noah Consulting, LLC | ||||||||||||||
Percentage of voting interests | 100.00% | |||||||||||||||
Cash consideration | $ 33 | |||||||||||||||
Contingent consideration on acquisition, gross | 5 | |||||||||||||||
Trade receivables acquired | 4 | |||||||||||||||
Transaction cost related to the acquisition | $ 2 | |||||||||||||||
Term for additional consideration payable based on retention bonus payable to the employees | 3 years | |||||||||||||||
Goodwill deductible for tax purposes | $ 1 | |||||||||||||||
Description of determining of contingent consideration | During fiscal 2016, based on an assessment of Noah achieving the targets, the entire contingent consideration has been reversed in the statement of comprehensive income | During fiscal 2016, based on an assessment of Noah achieving the targets, the entire contingent consideration has been reversed in the statement of comprehensive income | ||||||||||||||
Total purchase price | 37 | $ 41 | ₨ 2,660 | |||||||||||||
Customer contracts and relationships recognised | 18 | |||||||||||||||
Goodwill | 5 | |||||||||||||||
Noah Consulting LLC | Top of Range | ||||||||||||||||
Disclosure Of Business Combinations [Line Items] | ||||||||||||||||
Additional consideration | $ 32 | |||||||||||||||
EdgeVerve Systems Limited | ||||||||||||||||
Disclosure Of Business Combinations [Line Items] | ||||||||||||||||
Acquisition date | Jul. 1, 2014 | Jul. 1, 2014 | ||||||||||||||
Consideration transferred as equity | $ 70 | ₨ 4,210 | ||||||||||||||
Finacle and Edge Services | ||||||||||||||||
Disclosure Of Business Combinations [Line Items] | ||||||||||||||||
Acquisition date | Aug. 1, 2015 | Aug. 1, 2015 | ||||||||||||||
Consideration transferred as equity | $ 27 | ₨ 1,770 | ||||||||||||||
Non-convertible redeemable debentures received consideration, value | $ 389 | ₨ 25,490 | ||||||||||||||
Finacle and Edge Services | Share Capital | ||||||||||||||||
Disclosure Of Business Combinations [Line Items] | ||||||||||||||||
Issue of equity for consideration settlement, shares | shares | 850,000,000 | 850,000,000 | ||||||||||||||
Issue of equity for consideration settlement, value | $ 129 | ₨ 8,500 | ||||||||||||||
Finacle and Edge Services | Redeemable Convertible Debenture | ||||||||||||||||
Disclosure Of Business Combinations [Line Items] | ||||||||||||||||
Non-convertible redeemable debentures received consideration, shares | shares | 254,900,000 | 254,900,000 | ||||||||||||||
Finacle and Edge Services | Edge Verve | ||||||||||||||||
Disclosure Of Business Combinations [Line Items] | ||||||||||||||||
Repayments to redemption of debentures | $ 54 | ₨ 3,490 | ||||||||||||||
Finacle and Edge Services | EdgeVerve Systems Limited | ||||||||||||||||
Disclosure Of Business Combinations [Line Items] | ||||||||||||||||
Consideration transferred as equity | $ 491 | ₨ 32,220 | ||||||||||||||
Brilliant Basics Holdings Limited | ||||||||||||||||
Disclosure Of Business Combinations [Line Items] | ||||||||||||||||
Acquisition date | Sep. 8, 2017 | Sep. 8, 2017 | ||||||||||||||
Name of acquiree | Brilliant Basics Holdings Limited | Brilliant Basics Holdings Limited | ||||||||||||||
Percentage of voting interests | 100.00% | |||||||||||||||
Cash consideration | $ 4 | |||||||||||||||
Term for additional consideration payable based on retention bonus payable to the employees | 2 years | |||||||||||||||
Total purchase price | $ 7 | |||||||||||||||
Additional consideration | $ 2 | |||||||||||||||
Description of condition explained for the payment of contingent consideration | The payment of contingent consideration to sellers of Brilliant Basics is dependent upon the achievement of certain financial targets by Brilliant Basics over a period of 3 years ending on March, 2020 | The payment of contingent consideration to sellers of Brilliant Basics is dependent upon the achievement of certain financial targets by Brilliant Basics over a period of 3 years ending on March, 2020 | ||||||||||||||
Key input ued in determining fair value of contingent consideration discount rate | 10.00% | |||||||||||||||
Customer contracts and relationships recognised | $ 2 | |||||||||||||||
Goodwill | 5 | |||||||||||||||
Brilliant Basics Holdings Limited | Top of Range | ||||||||||||||||
Disclosure Of Business Combinations [Line Items] | ||||||||||||||||
Trade receivables acquired | 1 | |||||||||||||||
Transaction cost related to the acquisition | 1 | |||||||||||||||
Liability towards contingent consideration (Refer note 2.5) | $ 3 | |||||||||||||||
WoongDoody Holding Company Inc | Events After Reporting Period | ||||||||||||||||
Disclosure Of Business Combinations [Line Items] | ||||||||||||||||
Acquisition date | May 22, 2018 | May 22, 2018 | ||||||||||||||
Name of acquiree | WongDoody Holding Company Inc. | WongDoody Holding Company Inc. | ||||||||||||||
Percentage of voting interests | 100.00% | |||||||||||||||
Cash consideration | $ 38 | |||||||||||||||
Term for additional consideration payable based on retention bonus payable to the employees | 3 years | |||||||||||||||
Total purchase price | $ 51 | |||||||||||||||
Liability towards contingent consideration (Refer note 2.5) | 13 | |||||||||||||||
Purchase consideration allocated to net tangible assets | 5 | |||||||||||||||
Customer contracts and relationships recognised | 20 | |||||||||||||||
Trade name recognised | 1 | |||||||||||||||
Goodwill | 25 | |||||||||||||||
WoongDoody Holding Company Inc | Top of Range | Events After Reporting Period | ||||||||||||||||
Disclosure Of Business Combinations [Line Items] | ||||||||||||||||
Additional consideration | $ 9 |
Business Combinations and Dis87
Business Combinations and Disposal Group Held for Sale - Summary of Purchase Price Allocation (Details) ₨ in Millions, $ in Millions | Mar. 31, 2018USD ($) | Oct. 25, 2017USD ($) | Oct. 25, 2017INR (₨) | Sep. 08, 2017USD ($) | Mar. 31, 2017USD ($) | Mar. 31, 2016USD ($) | Nov. 16, 2015USD ($) | Jun. 02, 2015USD ($) |
Disclosure Of Business Combinations [Line Items] | ||||||||
Goodwill | $ 339 | $ 563 | $ 568 | |||||
Kallidus Inc | Acquisition Date, June 2, 2015 | ||||||||
Disclosure Of Business Combinations [Line Items] | ||||||||
Net Assets* | $ 6 | |||||||
Intangible assets – technology | 21 | |||||||
Intangible assets – trade name | 2 | |||||||
Intangible assets – customer contracts and relationships | 27 | |||||||
Deferred tax liabilities on intangible assets | (20) | |||||||
Total assets acquired | 36 | |||||||
Goodwill | 71 | |||||||
Total purchase price | 107 | |||||||
Kallidus Inc | Acquisition Date, June 2, 2015 | Acquiree's carrying amount | ||||||||
Disclosure Of Business Combinations [Line Items] | ||||||||
Net Assets* | 6 | |||||||
Total assets acquired | 6 | |||||||
Kallidus Inc | Acquisition Date, June 2, 2015 | Fair Value Adjustments | ||||||||
Disclosure Of Business Combinations [Line Items] | ||||||||
Intangible assets – technology | 21 | |||||||
Intangible assets – trade name | 2 | |||||||
Intangible assets – customer contracts and relationships | 27 | |||||||
Deferred tax liabilities on intangible assets | (20) | |||||||
Total assets acquired | $ 30 | |||||||
Noah Consulting LLC | ||||||||
Disclosure Of Business Combinations [Line Items] | ||||||||
Net Assets* | $ 6 | |||||||
Intangible assets – technology | 4 | |||||||
Intangible assets – trade name | 4 | |||||||
Intangible assets – customer contracts and relationships | 18 | |||||||
Total assets acquired | 32 | |||||||
Goodwill | 5 | |||||||
Total purchase price | $ 41 | ₨ 2,660 | 37 | |||||
Noah Consulting LLC | Acquiree's carrying amount | ||||||||
Disclosure Of Business Combinations [Line Items] | ||||||||
Net Assets* | 6 | |||||||
Total assets acquired | 6 | |||||||
Noah Consulting LLC | Fair Value Adjustments | ||||||||
Disclosure Of Business Combinations [Line Items] | ||||||||
Intangible assets – technology | 4 | |||||||
Intangible assets – trade name | 4 | |||||||
Intangible assets – customer contracts and relationships | 18 | |||||||
Total assets acquired | $ 26 | |||||||
Brilliant Basics Holdings Limited | ||||||||
Disclosure Of Business Combinations [Line Items] | ||||||||
Intangible assets – customer contracts and relationships | $ 2 | |||||||
Total assets acquired | 2 | |||||||
Goodwill | 5 | |||||||
Total purchase price | 7 | |||||||
Brilliant Basics Holdings Limited | Fair Value Adjustments | ||||||||
Disclosure Of Business Combinations [Line Items] | ||||||||
Intangible assets – customer contracts and relationships | 2 | |||||||
Total assets acquired | $ 2 |
Business Combinations and Dis88
Business Combinations and Disposal Group Held for Sale - Summary of Purchase Price Allocation (Parenthetical) (Details) - USD ($) $ in Millions | Sep. 08, 2017 | Nov. 16, 2015 | Jun. 02, 2015 |
Kallidus Inc | Acquisition Date, June 2, 2015 | |||
Disclosure Of Business Combinations [Line Items] | |||
Cash and cash equivalents acquired | $ 4 | ||
Noah Consulting LLC | |||
Disclosure Of Business Combinations [Line Items] | |||
Cash and cash equivalents acquired | $ 3 | ||
Brilliant Basics Holdings Limited | Top of Range | |||
Disclosure Of Business Combinations [Line Items] | |||
Cash and cash equivalents acquired | $ 1 |
Business Combinations and Dis89
Business Combinations and Disposal Group Held for Sale - Summary of Acquisition Date Fair Value of Each Major Class of Consideration (Details) ₨ in Millions, $ in Millions | Oct. 25, 2017USD ($) | Oct. 25, 2017INR (₨) | Sep. 08, 2017USD ($) | Nov. 16, 2015USD ($) | Jun. 02, 2015USD ($) |
Kallidus Inc | Acquisition Date, June 2, 2015 | |||||
Disclosure Of Business Combinations [Line Items] | |||||
Cash consideration | $ 91 | ||||
Fair value of contingent consideration | 16 | ||||
Total purchase price | $ 107 | ||||
Noah Consulting LLC | |||||
Disclosure Of Business Combinations [Line Items] | |||||
Cash consideration | $ 33 | ||||
Fair value of contingent consideration | 4 | ||||
Total purchase price | $ 41 | ₨ 2,660 | $ 37 | ||
Brilliant Basics Holdings Limited | |||||
Disclosure Of Business Combinations [Line Items] | |||||
Cash consideration | $ 4 | ||||
Fair value of contingent consideration | 3 | ||||
Total purchase price | $ 7 |
Revenue from Operations - Summa
Revenue from Operations - Summary of Revenue (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Disclosure Of Revenue Arising From Exchanges Of Goods Or Services [Line Items] | |||
Revenues | $ 10,939 | $ 10,208 | $ 9,501 |
Software Services | |||
Disclosure Of Revenue Arising From Exchanges Of Goods Or Services [Line Items] | |||
Revenues | 10,619 | 9,895 | 9,210 |
Software Products | |||
Disclosure Of Revenue Arising From Exchanges Of Goods Or Services [Line Items] | |||
Revenues | $ 320 | $ 313 | $ 291 |
Expenses by Nature - Schedule o
Expenses by Nature - Schedule of Expense by Nature (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Expense By Nature [Abstract] | |||
Employee benefit costs | $ 6,034 | $ 5,612 | $ 5,236 |
Deferred purchase price pertaining to acquisition | 23 | ||
Depreciation and amortization charges | 289 | 254 | 222 |
Travelling costs | 310 | 333 | 345 |
Cost of technical sub-contractors | 666 | 571 | 537 |
Cost of software packages for own use | 138 | 118 | 113 |
Third party items bought for service delivery to clients | 152 | 120 | 81 |
Operating lease payments | 82 | 73 | 55 |
Consultancy and professional charges | 162 | 114 | 118 |
Communication costs | 76 | 82 | 68 |
Repairs and maintenance | 174 | 191 | 160 |
Rates and Taxes | 25 | 22 | 17 |
Provision for post-sales client support | 22 | 12 | 1 |
Power and fuel | 32 | 34 | 33 |
Commission to non-whole time directors | 1 | 2 | 1 |
Branding and marketing expenses | 47 | 51 | 44 |
Impairment loss recognized/(reversed) on financial assets | 11 | 21 | (7) |
Insurance charges | 9 | 8 | 9 |
Contribution towards Corporate Social Responsibility | 24 | 34 | 33 |
Others | 26 | 36 | 37 |
Total cost of sales, selling and marketing expenses and administrative expenses | $ 8,280 | $ 7,688 | $ 7,126 |
Employee Benefits - Summary of
Employee Benefits - Summary of Gratuity Plans Amount Recognized in Group's Financial Statements (Details) - USD ($) $ in Millions | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | ||
Funded status | $ 3 | $ 12 |
Prepaid gratuity benefit | 7 | 12 |
Accrued gratuity | (4) | |
Defined Benefit Obligations | ||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | ||
Benefit obligations at the beginning | 172 | 142 |
Service cost | 23 | 19 |
Interest expense | 11 | 10 |
Remeasurements - Actuarial losses / (gains) | (9) | 10 |
Transfer | 4 | |
Benefits paid | (17) | (13) |
Translation differences | 4 | |
Benefit obligations at the end | 184 | 172 |
Plan Assets | ||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | ||
Translation differences | 1 | 3 |
Fair value of plan assets at the beginning | 184 | 143 |
Interest Income | 12 | 12 |
Remeasurements – Returns on plan assets excluding amounts included in interest income | 2 | 2 |
Contributions | 5 | 37 |
Benefits paid | (17) | (13) |
Fair value of plan assets at the end | $ 187 | $ 184 |
Employee Benefits - Summary o93
Employee Benefits - Summary of Net Gratuity Cost (Details) - Gratuity - USD ($) $ in Millions | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Disclosure Of Defined Benefit Plans [Line Items] | |||
Service cost | $ 23 | $ 19 | $ 18 |
Net interest on the net defined benefit liability / asset | (1) | (2) | (1) |
Net gratuity cost | $ 22 | $ 17 | $ 17 |
Employee Benefits - Re-measurem
Employee Benefits - Re-measurements Of Net Defined Benefit Liability - Assets (Details) - Gratuity - USD ($) $ in Millions | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Re-measurements of the net defined benefit liability / asset | |||
Actuarial (gains) / losses | $ (9) | $ 10 | $ 3 |
(Return) / loss on plan assets excluding amounts included in the net interest on the net defined benefit liability / asset | (2) | (2) | (1) |
Total | (11) | 8 | 2 |
(Gain) / loss from change in financial assumptions | (6) | 8 | |
(Gain) / loss from change in experience adjustments | (3) | 2 | 3 |
Actuarial (gains) / losses | $ (9) | $ 10 | $ 3 |
Employee Benefits - Summary o95
Employee Benefits - Summary of Cost Recognized in Net Profit in Statement of Comprehensive Income Apportioned (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Disclosure Of Defined Benefit Plans [Line Items] | |||
Cost | $ 6,034 | $ 5,612 | $ 5,236 |
Gratuity | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Cost | 22 | 17 | 17 |
Gratuity | Cost Of Sales | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Cost | 20 | 15 | 15 |
Gratuity | Sales And Marketing Expense | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Cost | 1 | 1 | 1 |
Gratuity | Administrative Expenses | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Cost | 1 | 1 | 1 |
Superannuation | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Cost | 27 | 25 | 36 |
Superannuation | Cost Of Sales | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Cost | 24 | 22 | 32 |
Superannuation | Sales And Marketing Expense | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Cost | 2 | 2 | 3 |
Superannuation | Administrative Expenses | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Cost | 1 | 1 | 1 |
Provident Fund | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Cost | 75 | 69 | 63 |
Provident Fund | Cost Of Sales | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Cost | 67 | 61 | 56 |
Provident Fund | Sales And Marketing Expense | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Cost | 5 | 5 | 5 |
Provident Fund | Administrative Expenses | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Cost | 3 | 3 | 2 |
Employee Benefit Cost | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Cost | 84 | 74 | 70 |
Employee Benefit Cost | Cost Of Sales | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Cost | 5,379 | 4,987 | 4,627 |
Employee Benefit Cost | Sales And Marketing Expense | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Cost | 425 | 405 | 403 |
Employee Benefit Cost | Administrative Expenses | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Cost | $ 230 | $ 220 | $ 206 |
Employee Benefits - Summary o96
Employee Benefits - Summary of Weighted-Average Assumptions (Details) - yr | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Disclosure Of Defined Benefit Plans [Line Items] | |||
Weighted average duration of defined benefit obligation | 5.9 | 6 | |
Benefit Obligations | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Discount rate | 7.50% | 6.90% | |
Benefit Obligations | Weighted Average | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Weighted average rate of increase in compensation levels | 8.00% | 8.00% | |
Net Periodic Benefit Cost | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Discount rate | 6.90% | 7.80% | 7.80% |
Weighted average duration of defined benefit obligation | 6.1 | 6.1 | 6.4 |
Discount rate | In India, the market for high quality corporate bonds being not developed, the yield of government bonds is considered as the discount rate. The tenure has been considered taking into account the past long-term trend of employees’ average remaining service life which reflects the average estimated term of the post- employment benefit obligations. | ||
Attrition rate | Attrition rate considered is the management’s estimate based on the past long-term trend of employee turnover in the Company. | ||
Net Periodic Benefit Cost | Weighted Average | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Weighted average rate of increase in compensation levels | 8.00% | 8.00% | 8.00% |
Weighted average rate of increase in compensation levels | The average rate of increase in compensation levels is determined by the Company, considering factors such as, the Company’s past compensation revision trends and management’s estimate of future salary increases. | ||
Provident Fund | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Expected guaranteed interest rate | 8.60% | 8.60% | |
Provident Fund | Less Than 1 Year | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Discount rate | 7.50% | 6.90% |
Employee Benefits - Additional
Employee Benefits - Additional Information (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Disclosure Of Defined Benefit Plans [Line Items] | ||||
Actual return | $ 14 | $ 14 | $ 11 | |
Sensitivity analysis | Sensitivity for significant actuarial assumptions is computed by varying one actuarial assumption used for the valuation of the defined benefit obligation by one percentage, keeping all other actuarial assumptions constant. In practice, this is not probable, and changes in some of the assumptions may be correlated. | |||
Gratuity | ||||
Disclosure Of Defined Benefit Plans [Line Items] | ||||
Cost | $ 22 | 17 | 17 | |
Superannuation | ||||
Disclosure Of Defined Benefit Plans [Line Items] | ||||
Amount contributed under benefit plan | 27 | 25 | 36 | |
Provident Fund | ||||
Disclosure Of Defined Benefit Plans [Line Items] | ||||
Cost | $ 75 | $ 69 | $ 63 | |
Events After Reporting Period | Gratuity | ||||
Disclosure Of Defined Benefit Plans [Line Items] | ||||
Expected contribution to gratuity trusts | $ 20 |
Employee Benefits - Summary o98
Employee Benefits - Summary of Sensitivity of Significant Assumptions Used for Valuation of Defined Benefit Obligation (Details) - Benefit Obligations $ in Millions | Mar. 31, 2018USD ($) |
Discount Rate | |
Disclosure Of Sensitivity Analysis For Actuarial Assumptions [Line Items] | |
Impact from percentage point increase / decrease | $ 9 |
Increase in Compensation Levels | Weighted Average | |
Disclosure Of Sensitivity Analysis For Actuarial Assumptions [Line Items] | |
Impact from percentage point increase / decrease | $ 8 |
Employee Benefits - Summary o99
Employee Benefits - Summary of Maturity Profile of Defined Benefit Obligation (Details) $ in Millions | Mar. 31, 2018USD ($) |
Disclosure Of Defined Benefit Plans [Line Items] | |
Gross amount of benefit obligation at period end | $ 27 |
1-2 Years | |
Disclosure Of Defined Benefit Plans [Line Items] | |
Gross amount of benefit obligation at period end | 27 |
2 - 3 Year | |
Disclosure Of Defined Benefit Plans [Line Items] | |
Gross amount of benefit obligation at period end | 29 |
3 - 4 Year | |
Disclosure Of Defined Benefit Plans [Line Items] | |
Gross amount of benefit obligation at period end | 31 |
4 - 5 Year | |
Disclosure Of Defined Benefit Plans [Line Items] | |
Gross amount of benefit obligation at period end | 33 |
5 - 10 Years | |
Disclosure Of Defined Benefit Plans [Line Items] | |
Gross amount of benefit obligation at period end | $ 157 |
Employee Benefits - Details Of
Employee Benefits - Details Of Fund And Plan Asset Position (Details) - Provident Fund - USD ($) $ in Millions | Mar. 31, 2018 | Mar. 31, 2017 |
Disclosure Of Defined Benefit Plans [Line Items] | ||
Plan assets at period end, at fair value | $ 792 | $ 688 |
Present value of benefit obligation at period end | $ 792 | $ 688 |
Employee Benefits - Employee Be
Employee Benefits - Employee Benefit Costs (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Disclosure Of Defined Benefit Plans [Line Items] | |||
Net defined benefit liability asset | $ 6,034 | $ 5,612 | $ 5,236 |
Employee Benefit Cost | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Salaries and bonus | 5,910 | 5,501 | 5,120 |
Defined contribution plans | 40 | 37 | 46 |
Defined benefit plans | $ 84 | $ 74 | $ 70 |
Employee Benefits - Employee102
Employee Benefits - Employee Benefit Costs (Parenthetical) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Disclosure Of Defined Benefit Plans [Abstract] | |||
Stock compensation expense | $ 13 | $ 17 | $ 1 |
Reversal of stock compensation cost | $ 5 |
Equity - Additional Information
Equity - Additional Information (Details) ₨ / shares in Units, $ / shares in Units, ₨ in Billions | Jul. 18, 2018USD ($) | Mar. 31, 2018USD ($)Vote$ / sharesshares | Mar. 31, 2018USD ($)Vote₨ / shares$ / sharesshares | Mar. 31, 2017USD ($) | Mar. 31, 2016USD ($)shares | Mar. 31, 2018₨ / shares | Oct. 07, 2017USD ($) | Oct. 07, 2017INR (₨) | Mar. 31, 2017₨ / sharesshares | Mar. 31, 2017$ / sharesshares | Jun. 30, 2015shares | Mar. 31, 2015shares |
Disclosure Of Equity [Line Items] | ||||||||||||
Par value per share | (per share) | $ 0.16 | $ 0.16 | ₨ 5 | ₨ 5 | $ 0.16 | |||||||
Bonus shares issued | shares | 1,148,472,332 | |||||||||||
Treasury shares net | shares | 10,801,956 | 10,801,956 | 11,323,576 | 11,289,514 | 11,289,514 | 5,667,200 | ||||||
Borrowings | $ 0 | $ 0 | ||||||||||
Capital redemption reserve | $ 9,000,000 | $ 9,000,000 | ||||||||||
Number of votes per equity share | Vote | 1 | 1 | ||||||||||
Final dividend proposed | (per share) | $ 0.31 | $ 20.50 | ||||||||||
Special dividend proposed | (per share) | $ 0.15 | $ 10 | ||||||||||
Payment of dividends including dividend distribution tax | $ 1,156,000,000 | $ 1,032,000,000 | $ 1,059,000,000 | |||||||||
Subsequent Event | ||||||||||||
Disclosure Of Equity [Line Items] | ||||||||||||
Payment of dividends including dividend distribution tax | $ 1,164,000,000 | |||||||||||
Top of Range | ||||||||||||
Disclosure Of Equity [Line Items] | ||||||||||||
Percentage of free cash flow as dividend payout | 70.00% | |||||||||||
Share Buyback Program | ||||||||||||
Disclosure Of Equity [Line Items] | ||||||||||||
Par value per share | ₨ / shares | 5 | |||||||||||
Amount authorized to be paid out to shareholders | $ 2,000,000,000 | ₨ 130 | ||||||||||
Equity shares repurchased | shares | 113,043,478 | 113,043,478 | ||||||||||
Percentage of equity shares repurchased | 4.92% | 4.92% | ||||||||||
Per share price of stock repurchased | ₨ / shares | ₨ 1,150 | |||||||||||
Stock repurchase program expiration date | Dec. 27, 2017 | |||||||||||
Capital redemption reserve | $ 9,000,000 | $ 9,000,000 |
Equity - Summary of Dividend Pa
Equity - Summary of Dividend Payout (Details) | 12 Months Ended | |||||
Mar. 31, 2018₨ / shares | Mar. 31, 2018$ / shares | Mar. 31, 2017₨ / shares | Mar. 31, 2017$ / shares | Mar. 31, 2016₨ / shares | Mar. 31, 2016$ / shares | |
Dividend per Equity Share | ||||||
Disclosure Of Equity [Line Items] | ||||||
Interim dividend | ₨ / shares | ₨ 13 | ₨ 11 | ₨ 10 | |||
Final dividend | ₨ / shares | ₨ 14.75 | ₨ 14.25 | ₨ 14.75 | |||
Dividend per Equity Share/ADS | ||||||
Disclosure Of Equity [Line Items] | ||||||
Interim dividend | $ / shares | $ 0.20 | $ 0.17 | $ 0.15 | |||
Final dividend | $ / shares | $ 0.23 | $ 0.22 | $ 0.24 |
Other income net - Summary of O
Other income net - Summary of Other Income (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Revenue [Abstract] | |||
Interest income on financial assets carried at amortized cost | $ 260 | $ 352 | $ 402 |
Interest income on financial assets fair valued through other comprehensive income | 106 | 28 | |
Dividend income on investments carried at fair value through profit or loss | 1 | 4 | 10 |
Gain / (loss) on investments carried at fair value through profit or loss | 39 | 18 | |
Exchange gains / (losses) on forward and options contracts | 89 | 4 | |
Exchange gains / (losses) on translation of other assets and liabilities | 36 | (54) | 21 |
Reduction in fair value of Disposal Group held for sale (refer note no. 2.9) | (18) | ||
Others | 71 | 22 | 39 |
Other income | $ 495 | $ 459 | $ 476 |
Leases - Additional Information
Leases - Additional Information (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Disclosure Of Finance Lease And Operating Lease By Lessee [Abstract] | |||
Rental expense for operating leases | $ 82 | $ 73 | $ 55 |
Operating lease arrangements period | 10 years |
Leases - Schedule of Future Min
Leases - Schedule of Future Minimum Rental Payments in Respect of Non-cancellable Operating Leases (Details) - USD ($) $ in Millions | Mar. 31, 2018 | Mar. 31, 2017 |
Less Than 1 Year | ||
Disclosure Of Finance Lease And Operating Lease By Lessee [Line Items] | ||
Future minimum rental payments in respect of non-cancellable operating leases | $ 70 | $ 71 |
Due in a period between one year and five years | ||
Disclosure Of Finance Lease And Operating Lease By Lessee [Line Items] | ||
Future minimum rental payments in respect of non-cancellable operating leases | 213 | 191 |
Due after five years | ||
Disclosure Of Finance Lease And Operating Lease By Lessee [Line Items] | ||
Future minimum rental payments in respect of non-cancellable operating leases | $ 134 | $ 114 |
Employees' Stock Option Plan108
Employees' Stock Option Plans (ESOP) - Additional Information (Details) ₨ in Millions | Feb. 27, 2018shares | Feb. 20, 2018USD ($) | Feb. 20, 2018INR (₨) | Oct. 14, 2016 | Mar. 31, 2016shares | Mar. 31, 2018USD ($)shares | Mar. 31, 2017USD ($)shares | Mar. 31, 2016USD ($)shares | Mar. 31, 2015shares | |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||||||||
Number of shares authorized | 2,400,000,000 | 2,400,000,000 | ||||||||
Number of shares outstanding | [1] | 2,285,621,088 | 2,173,312,301 | 2,285,655,150 | 2,285,621,088 | 1,142,805,132 | ||||
Treasury shares net | 11,323,576 | 10,801,956 | 11,289,514 | 11,323,576 | 5,667,200 | |||||
Number of RSUs granted | 2,822,223 | 4,192,750 | 124,061 | |||||||
2015 Stock Incentive Compensation Plan | ||||||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||||||||
Equity shares issuable as RSUs at par value | 17,038,883 | |||||||||
Equity shares issuable as stock options at market price | 7,000,000 | |||||||||
Instruments average vesting period | 4 years | |||||||||
Treasury shares net | 10,801,956 | 11,289,514 | ||||||||
Number of shares earmarked for welfare activities of the employees | 100,000 | |||||||||
Incentive units outstanding net of forfeitures | 111,757 | 106,845 | ||||||||
Weighted average exercise price, Exercised | $ | $ 15.48 | $ 16.10 | $ 16 | |||||||
2015 Stock Incentive Compensation Plan | Restricted Stock Units and Employee Stock Option Plan | ||||||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||||||||
Vesting period | 4 years | |||||||||
2015 Stock Incentive Compensation Plan | Chief Executive Officer and Managing Director | Annual Grant of Restricted Stock Units (RSUs) | ||||||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||||||||
Fair value of instruments eligibility annual equity grants | $ 500,000 | ₨ 32.5 | ||||||||
Vesting period | will vest over time in 3 equal annual installments upon completion of each year of service from the respective grant date | will vest over time in 3 equal annual installments upon completion of each year of service from the respective grant date | ||||||||
Number of RSUs granted | 28,256 | |||||||||
Weighted average exercise price, Exercised | $ | $ 15.48 | $ 16.10 | $ 16 | |||||||
2015 Stock Incentive Compensation Plan | Chief Executive Officer and Managing Director | One Time Grant Restricted Stock Units (RSUs) | ||||||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||||||||
Vesting period | will vest over time in 2 equal annual installments upon completion of each year of service from the grant date | will vest over time in 2 equal annual installments upon completion of each year of service from the grant date | ||||||||
Fair value of instruments eligibility for one time equity grants | $ 1,500,000 | ₨ 97.5 | ||||||||
Number of RSUs granted | 84,768 | |||||||||
2015 Stock Incentive Compensation Plan | Chief Executive Officer and Managing Director | Annual Grant Performance Based Restricted Stock Units (RSUs) | ||||||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||||||||
Vesting period | will vest after completion of three years the first of which concludes on March 31, 2021, subject to achievement of performance targets set by the Board or its committee. | will vest after completion of three years the first of which concludes on March 31, 2021, subject to achievement of performance targets set by the Board or its committee. | ||||||||
Fair value of instruments annual grant performance based RSU | $ 2,000,000 | ₨ 130 | ||||||||
2015 Stock Incentive Compensation Plan | Top of Range | ||||||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||||||||
Number of shares authorized | 24,038,883 | 24,038,883 | ||||||||
Expected period to grant instruments | 7 years | |||||||||
2015 Stock Incentive Compensation Plan | Bottom of Range | ||||||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||||||||
Expected period to grant instruments | 4 years | |||||||||
2011 Restricted Stock Units Plan | ||||||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||||||||
Number of shares outstanding | 11,223,576 | 11,223,576 | ||||||||
[1] | excludes treasury shares of 10,801,956 as of March 31, 2018, 11,289,514 as of March 31, 2017 and 11,323,576 as of March 31, 2016 and 5,667,200 April 1, 2015, held by consolidated trust |
Employees' Stock Option Plan109
Employees' Stock Option Plans (ESOP) - Summary of Stock Option Grant (Details) - shares | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Disclosure Of Defined Benefit Plans [Line Items] | |||
Total grants | 2,822,223 | 4,192,750 | 124,061 |
R S U | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Total grants | 2,280,608 | 2,874,690 | 124,061 |
ESOP | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Total grants | 491,575 | 1,205,850 | |
Incentive Units Cash Settled | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Total grants | 50,040 | 112,210 | |
Salil Parekh, CEO and MD | R S U | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Total grants | 113,024 | ||
U.B. Pravin Rao, COO and WTD | R S U | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Total grants | 27,250 | ||
U.B. Pravin Rao, COO and WTD | ESOP | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Total grants | 43,000 | ||
Dr.Vishal Sikka | R S U | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Total grants | 270,224 | 120,700 | 124,061 |
Dr.Vishal Sikka | ESOP | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Total grants | 330,525 | ||
Other KMP | R S U | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Total grants | 271,100 | 246,250 | |
Other KMP | ESOP | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Total grants | 44,450 | 502,550 | |
Employees Other Than KMP | R S U | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Total grants | 1,599,010 | 2,507,740 | |
Employees Other Than KMP | ESOP | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Total grants | 73,600 | 703,300 | |
Other Employees | Incentive Units Cash Settled | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Total grants | 50,040 | 112,210 |
Employees' Stock Option Plan110
Employees' Stock Option Plans (ESOP) - Schedule of Break-up of Employee Stock Compensation Expense (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Abstract] | |||
Granted to KMP | $ (2) | $ 5 | $ 1 |
Granted to employees other than KMP | 15 | 12 | |
Total | 13 | $ 17 | $ 1 |
Cash settled stock compensation expense included in the above | $ 1 |
Employees' Stock Option Plan111
Employees' Stock Option Plans (ESOP) - Schedule of Break-up of Employee Stock Compensation Expense (Parentheticals) (Details) $ in Millions | 12 Months Ended |
Mar. 31, 2018USD ($) | |
Former Chief Executive Officer and Managing Director | |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |
Reversal of stock compensation cost toward forfeiture of stock incentives | $ 5 |
Employees' Stock Option Plan112
Employees' Stock Option Plans (ESOP) - Schedule of Equity Settled Share Based Payment Transaction (Details) | 12 Months Ended | |||
Mar. 31, 2018USD ($)shares | Mar. 31, 2017USD ($)shares | Mar. 31, 2016USD ($)shares | ||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||
Shares arising out of options, Granted | 2,822,223 | 4,192,750 | 124,061 | |
Shares arising out of options, Exercised | [1] | 700,629 | 34,062 | 10,824 |
2015 Stock Incentive Compensation Plan | ||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||
Shares arising out of options outstanding, Beginning balance | 4,159,023 | |||
Shares arising out of options, Ending balance | 4,717,322 | 4,159,023 | ||
Weighted average exercise price, Exercised | $ | $ 15.48 | $ 16.10 | $ 16 | |
2015 Stock Incentive Compensation Plan | R S U | ||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||
Shares arising out of options outstanding, Beginning balance | 2,961,373 | 221,505 | 108,268 | |
Shares arising out of options, Granted | 2,280,608 | 2,874,690 | 124,061 | |
Shares arising out of options, Exercised | 648,217 | 34,062 | 10,824 | |
Shares arising out of options, Forfeited and expired | 843,355 | 100,760 | ||
Shares arising out of options, Ending balance | 3,750,409 | 2,961,373 | 221,505 | |
Shares arising out of options, Exercisable at the end | 24,205 | |||
Weighted average exercise price outstanding, Beginning balance | $ | $ 0.07 | $ 0.07 | $ 0.07 | |
Weighted average exercise price, Granted | $ | 0.08 | 0.07 | 0.07 | |
Weighted average exercise price, Exercised | $ | 0.07 | 0.07 | ||
Weighted average exercise price, Forfeited and expired | $ | 0.07 | 0.07 | ||
Weighted average exercise price outstanding, Ending balance | $ | 0.07 | $ 0.07 | $ 0.07 | |
Weighted average exercise price, Exercisable at the end | $ | $ 0.07 | |||
2015 Stock Incentive Compensation Plan | ESOP | ||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||
Shares arising out of options outstanding, Beginning balance | 1,197,650 | |||
Shares arising out of options, Granted | 491,575 | 1,205,850 | ||
Shares arising out of options, Exercised | 52,412 | |||
Shares arising out of options, Forfeited and expired | 669,900 | 8,200 | ||
Shares arising out of options, Ending balance | 966,913 | 1,197,650 | ||
Shares arising out of options, Exercisable at the end | 196,912 | |||
Weighted average exercise price outstanding, Beginning balance | $ | $ 15.26 | |||
Weighted average exercise price, Granted | $ | 14.62 | $ 15.26 | ||
Weighted average exercise price, Exercised | $ | 15.26 | |||
Weighted average exercise price, Forfeited and expired | $ | 14.84 | 15.26 | ||
Weighted average exercise price outstanding, Ending balance | $ | 15.23 | $ 15.26 | ||
Weighted average exercise price, Exercisable at the end | $ | $ 15.26 | |||
[1] | excludes treasury shares of 10,801,956 as of March 31, 2018, 11,289,514 as of March 31, 2017 and 11,323,576 as of March 31, 2016 and 5,667,200 April 1, 2015, held by consolidated trust |
Employees' Stock Option Plan113
Employees' Stock Option Plans (ESOP) - Schedule of Equity Settled RSUs and ESOPs Outstanding (Details) - 2015 Stock Incentive Compensation Plan | Mar. 31, 2018USD ($)shares | Mar. 31, 2017USD ($)shares |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||
Options oustanding, No. of shares arising out of options | shares | 4,717,322 | 4,159,023 |
Options outstanding, Weighted average remaining contractual life | shares | 2.57 | 3.38 |
Options outstanding, Weighted average exercise price | $ 3.18 | $ 4.61 |
0.08 (RSU) | ||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||
Range of exercise price per share | $ 0.08 | |
Options oustanding, No. of shares arising out of options | shares | 3,750,409 | |
Options outstanding, Weighted average remaining contractual life | shares | 1.89 | |
Options outstanding, Weighted average exercise price | $ 0.07 | |
13 - 17 (ESOP) | ||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||
Options oustanding, No. of shares arising out of options | shares | 966,913 | |
Options outstanding, Weighted average remaining contractual life | shares | 6.60 | |
Options outstanding, Weighted average exercise price | $ 15.23 | |
13 - 17 (ESOP) | Bottom of Range | ||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||
Range of exercise price per share | 13 | |
13 - 17 (ESOP) | Top of Range | ||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||
Range of exercise price per share | $ 17 | |
0.07 (RSU) | ||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||
Range of exercise price per share | $ 0.07 | |
Options oustanding, No. of shares arising out of options | shares | 2,961,373 | |
Options outstanding, Weighted average remaining contractual life | shares | 1.88 | |
Options outstanding, Weighted average exercise price | $ 0.07 | |
14 - 16 (ESOP) | ||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||
Options oustanding, No. of shares arising out of options | shares | 1,197,650 | |
Options outstanding, Weighted average remaining contractual life | shares | 7.09 | |
Options outstanding, Weighted average exercise price | $ 15.83 | |
14 - 16 (ESOP) | Bottom of Range | ||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||
Range of exercise price per share | 14 | |
14 - 16 (ESOP) | Top of Range | ||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||
Range of exercise price per share | $ 16 |
Employees' Stock Option Plan114
Employees' Stock Option Plans (ESOP) - Summary of Fair Value estimated on Date of Grant (Details) - Black-Scholes-Merton Model | 12 Months Ended | |||||
Mar. 31, 2018USD ($)yr | Mar. 31, 2018INR (₨)yr | Mar. 31, 2017USD ($)yr | Mar. 31, 2017INR (₨)yr | Mar. 31, 2018INR (₨) | Mar. 31, 2017INR (₨) | |
Restricted Stock Units (RSU) Grant Date 1-Nov-16 | ₹ | ||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||||
Weighted average share price | ₨ | ₨ 1,144 | |||||
Exercise price | ₨ | ₨ 5 | |||||
Expected dividends | 2.78% | 2.78% | ||||
Weighted average fair value as on grant date | ₨ | ₨ 1,066 | |||||
Restricted Stock Units (RSU) Grant Date 1-Nov-16 | ₹ | Bottom of Range | ||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||||
Expected volatility | 20.00% | 20.00% | ||||
Expected life of the option (years) | 1 | 1 | ||||
Risk-free interest rate | 6.00% | 6.00% | ||||
Restricted Stock Units (RSU) Grant Date 1-Nov-16 | ₹ | Top of Range | ||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||||
Expected volatility | 25.00% | 25.00% | ||||
Expected life of the option (years) | 4 | 4 | ||||
Risk-free interest rate | 7.00% | 7.00% | ||||
Restricted Stock Units (RSU) Grant Date 1-Nov-16 | U.S. Dollars | ||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||||
Weighted average share price | $ | $ 16.61 | |||||
Exercise price | $ | $ 0.08 | |||||
Expected dividends | 2.74% | 2.74% | ||||
Weighted average fair value as on grant date | $ | $ 15.47 | |||||
Restricted Stock Units (RSU) Grant Date 1-Nov-16 | U.S. Dollars | Bottom of Range | ||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||||
Expected volatility | 21.00% | 21.00% | ||||
Expected life of the option (years) | 1 | 1 | ||||
Risk-free interest rate | 1.00% | 1.00% | ||||
Restricted Stock Units (RSU) Grant Date 1-Nov-16 | U.S. Dollars | Top of Range | ||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||||
Expected volatility | 26.00% | 26.00% | ||||
Expected life of the option (years) | 4 | 4 | ||||
Risk-free interest rate | 2.00% | 2.00% | ||||
Employee Stock Option Plan Grant Date 1-Nov-2016 | ₹ | ||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||||
Weighted average share price | ₨ | ₨ 923 | |||||
Exercise price | ₨ | ₨ 919 | |||||
Expected dividends | 2.78% | 2.78% | ||||
Weighted average fair value as on grant date | ₨ | ₨ 254 | |||||
Employee Stock Option Plan Grant Date 1-Nov-2016 | ₹ | Bottom of Range | ||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||||
Expected volatility | 25.00% | 25.00% | ||||
Expected life of the option (years) | 3 | 3 | ||||
Risk-free interest rate | 6.00% | 6.00% | ||||
Employee Stock Option Plan Grant Date 1-Nov-2016 | ₹ | Top of Range | ||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||||
Expected volatility | 28.00% | 28.00% | ||||
Expected life of the option (years) | 7 | 7 | ||||
Risk-free interest rate | 7.00% | 7.00% | ||||
Employee Stock Option Plan Grant Date 1-Nov-2016 | U.S. Dollars | ||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||||
Weighted average share price | $ | $ 14.65 | |||||
Exercise price | $ | $ 14.67 | |||||
Expected dividends | 2.74% | 2.74% | ||||
Weighted average fair value as on grant date | $ | $ 2.93 | |||||
Employee Stock Option Plan Grant Date 1-Nov-2016 | U.S. Dollars | Bottom of Range | ||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||||
Expected volatility | 25.00% | 25.00% | ||||
Expected life of the option (years) | 3 | 3 | ||||
Risk-free interest rate | 1.00% | 1.00% | ||||
Employee Stock Option Plan Grant Date 1-Nov-2016 | U.S. Dollars | Top of Range | ||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||||
Expected volatility | 31.00% | 31.00% | ||||
Expected life of the option (years) | 7 | 7 | ||||
Risk-free interest rate | 2.00% | 2.00% | ||||
Restricted Stock Units (RSUs) | ₹ | ||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||||
Weighted average share price | ₨ | ₨ 1,067 | |||||
Exercise price | ₨ | ₨ 5 | |||||
Expected dividends | 2.37% | 2.37% | ||||
Weighted average fair value as on grant date | ₨ | ₨ 1,002 | |||||
Restricted Stock Units (RSUs) | ₹ | Bottom of Range | ||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||||
Expected volatility | 24.00% | 24.00% | ||||
Expected life of the option (years) | 1 | 1 | ||||
Risk-free interest rate | 6.00% | 6.00% | ||||
Restricted Stock Units (RSUs) | ₹ | Top of Range | ||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||||
Expected volatility | 29.00% | 29.00% | ||||
Expected life of the option (years) | 4 | 4 | ||||
Risk-free interest rate | 7.00% | 7.00% | ||||
Restricted Stock Units (RSUs) | U.S. Dollars | ||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||||
Weighted average share price | $ | $ 15.77 | |||||
Exercise price | $ | $ 0.07 | |||||
Expected dividends | 2.29% | 2.29% | ||||
Weighted average fair value as on grant date | $ | $ 14.84 | |||||
Restricted Stock Units (RSUs) | U.S. Dollars | Bottom of Range | ||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||||
Expected volatility | 26.00% | 26.00% | ||||
Expected life of the option (years) | 1 | 1 | ||||
Risk-free interest rate | 1.00% | 1.00% | ||||
Restricted Stock Units (RSUs) | U.S. Dollars | Top of Range | ||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||||
Expected volatility | 29.00% | 29.00% | ||||
Expected life of the option (years) | 4 | 4 | ||||
Risk-free interest rate | 2.00% | 2.00% | ||||
Employee Stock Option Plan | ₹ | ||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||||
Weighted average share price | ₨ | ₨ 989 | |||||
Exercise price | ₨ | ₨ 998 | |||||
Expected dividends | 2.37% | 2.37% | ||||
Weighted average fair value as on grant date | ₨ | ₨ 285 | |||||
Employee Stock Option Plan | ₹ | Bottom of Range | ||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||||
Expected volatility | 27.00% | 27.00% | ||||
Expected life of the option (years) | 3 | 3 | ||||
Risk-free interest rate | 6.00% | 6.00% | ||||
Employee Stock Option Plan | ₹ | Top of Range | ||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||||
Expected volatility | 29.00% | 29.00% | ||||
Expected life of the option (years) | 7 | 7 | ||||
Risk-free interest rate | 7.00% | 7.00% | ||||
Employee Stock Option Plan | U.S. Dollars | ||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||||
Weighted average share price | $ | $ 15.26 | |||||
Exercise price | $ | $ 15.26 | |||||
Expected dividends | 2.29% | 2.29% | ||||
Weighted average fair value as on grant date | $ | $ 3.46 | |||||
Employee Stock Option Plan | U.S. Dollars | Bottom of Range | ||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||||
Expected volatility | 27.00% | 27.00% | ||||
Expected life of the option (years) | 3 | 3 | ||||
Risk-free interest rate | 1.00% | 1.00% | ||||
Employee Stock Option Plan | U.S. Dollars | Top of Range | ||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||||
Expected volatility | 31.00% | 31.00% | ||||
Expected life of the option (years) | 7 | 7 | ||||
Risk-free interest rate | 2.00% | 2.00% |
Income Taxes - Schedule of Inco
Income Taxes - Schedule of Income Tax Expense (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Income Taxes [Line Items] | |||
Current taxes | $ 709 | $ 842 | $ 809 |
Deferred taxes | (52) | (8) | (10) |
Income tax expense | 657 | 834 | 799 |
Domestic Countries | |||
Income Taxes [Line Items] | |||
Current taxes | 721 | 616 | 642 |
Deferred taxes | (80) | (1) | 3 |
Foreign Countries | |||
Income Taxes [Line Items] | |||
Current taxes | (12) | 226 | 167 |
Deferred taxes | $ 28 | $ (7) | $ (13) |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Details) $ / shares in Units, ₨ in Millions, $ in Millions | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||
Mar. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2017USD ($) | Mar. 31, 2018USD ($)$ / shares | Mar. 31, 2018INR (₨) | Mar. 31, 2017USD ($)$ / shares | Mar. 31, 2017INR (₨) | Mar. 31, 2016USD ($)$ / shares | |
Income Taxes [Line Items] | ||||||||
Income tax expense provision | $ 45 | $ 23 | $ 47 | |||||
Applicable tax rate | 34.61% | 34.61% | 34.61% | 34.61% | 34.61% | |||
Tax reforms impact on deferred tax liabilities | $ 24 | |||||||
Current tax charge (credit) | 2 | $ (1) | ||||||
Reversal of deferred tax liability on account of IFRS 9 | 1 | |||||||
Tax impact on above | $ 2 | (2) | ||||||
Tax reduction period | 5 years | 5 years | ||||||
Tax effect due to non-taxable income for Indian tax purposes | $ 321 | $ 295 | $ 268 | |||||
Basic and diluted weighted average number of equity shares | $ / shares | $ 0.14 | $ 0.13 | $ 0.12 | |||||
Dividends received from owned subsidiary | $ 130 | |||||||
Deferred income tax liabilities not recognized amount of temporary differences | $ 774 | 774 | $ 819 | |||||
Deferred income tax assets, not recognized on accumulated losses | 297 | 297 | 303 | |||||
Group | ||||||||
Income Taxes [Line Items] | ||||||||
Income tax on dividend from subsidiary | 27 | |||||||
Income tax claims not acknowledged as debt | 467 | ₨ 30,410 | ||||||
Group | Indian Income Tax Authorities | ||||||||
Income Taxes [Line Items] | ||||||||
Income tax claims not acknowledged as debt | 984 | ₨ 63,780 | ||||||
Amount paid to statutory authority | 1,003 | ₨ 65,400 | $ 722 | ₨ 46,820 | ||||
Other Income | ||||||||
Income Taxes [Line Items] | ||||||||
Interest on income tax refund | $ 41 | |||||||
First Five Year | ||||||||
Income Taxes [Line Items] | ||||||||
Percentage of tax reduction | 100.00% | 100.00% | ||||||
Second Five Year | Top of Range | ||||||||
Income Taxes [Line Items] | ||||||||
Percentage of tax reduction | 50.00% | 50.00% | ||||||
Third Five Year | Top of Range | ||||||||
Income Taxes [Line Items] | ||||||||
Percentage of tax reduction | 50.00% | 50.00% | ||||||
UNITED STATES | ||||||||
Income Taxes [Line Items] | ||||||||
Deferred tax liability | $ 7 | $ 7 | ||||||
Applicable tax rate | 21.00% | 35.00% | ||||||
Tax reforms impact on deferred tax liabilities | $ 24 | |||||||
Branch profit tax | 15.00% | 15.00% | ||||||
Branch net assets | $ 772 | $ 772 | ||||||
Deferred tax liabililty for branch profit tax | $ 25 | 25 | ||||||
Credit amount to branch profit tax | 24 | |||||||
Reversed amount of branch profit tax | 8 | |||||||
Advanced Pricing Agreement | ||||||||
Income Taxes [Line Items] | ||||||||
Income tax expense provision | $ 225 | |||||||
Reversal of current tax expense | 253 | |||||||
Deferred tax assets | 21 | $ 21 | ||||||
Deferred tax liability | 7 | $ 7 | ||||||
Expects to income tax to be paid | $ 233 | |||||||
Amount paid | $ 138 |
Income Taxes - Summary of Recon
Income Taxes - Summary of Reconciliation of Income Tax Provision to Amount Computed by Applying Statutory Income Tax Rate to Income Before Income Taxes (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Reconciliation Of Accounting Profit Multiplied By Applicable Tax Rates [Abstract] | |||
Profit before income taxes | $ 3,143 | $ 2,974 | $ 2,851 |
Applicable tax rate | 34.61% | 34.61% | 34.61% |
Computed expected tax expense | $ 1,088 | $ 1,029 | $ 987 |
Tax effect due to non-taxable income for Indian tax purposes | (321) | (295) | (268) |
Overseas taxes | 109 | 112 | 109 |
Tax provision (reversals) | (253) | (23) | (47) |
Effect of differential overseas tax rates | 8 | 10 | 1 |
Effect of exempt non-operating income | (10) | (10) | (13) |
Effect of unrecognized deferred tax assets | 29 | 14 | 9 |
Effect of non-deductible expenses | 9 | 4 | 30 |
Branch profit tax (net of credits) | (32) | ||
Subsidiary dividend distribution tax | 27 | ||
Others | 3 | (7) | (9) |
Income tax expense | $ 657 | $ 834 | $ 799 |
Income Taxes - Summary of Expir
Income Taxes - Summary of Expiration of Unused Tax Losses (Details) - USD ($) $ in Millions | Mar. 31, 2018 | Mar. 31, 2017 |
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Deferred income tax assets, not recognized on accumulated losses | $ 297 | $ 303 |
Less Than 1 Year | ||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Deferred income tax assets, not recognized on accumulated losses | 14 | |
1-2 Years | ||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Deferred income tax assets, not recognized on accumulated losses | 37 | |
2 - 3 Year | ||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Deferred income tax assets, not recognized on accumulated losses | 12 | |
3 - 4 Year | ||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Deferred income tax assets, not recognized on accumulated losses | 21 | |
4 - 5 Year | ||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Deferred income tax assets, not recognized on accumulated losses | 39 | |
Due after five years | ||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Deferred income tax assets, not recognized on accumulated losses | $ 174 |
Income Taxes - Summary of Incom
Income Taxes - Summary of Income Tax Assets and Income Tax Liabilities (Details) - USD ($) $ in Millions | Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2015 |
Major Components Of Tax Expense Income [Abstract] | ||||
Income tax assets | $ 931 | $ 881 | ||
Current income tax liabilities | (314) | (599) | ||
Net current income tax assets / (liabilities) at the end | $ 617 | $ 282 | $ 274 | $ 203 |
Income Taxes - Summary Gross Mo
Income Taxes - Summary Gross Movement in Current Income Tax Asset / (Liability) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Current Tax Expense Income And Adjustments For Current Tax Of Prior Periods [Abstract] | |||
Net current income tax asset / (liability) at the beginning | $ 282 | $ 274 | $ 203 |
Translation differences | (8) | 6 | (12) |
Income tax paid | 1,059 | 843 | 892 |
Current income tax expense (Refer to Note 2.17) | (709) | (842) | (809) |
Income tax on other comprehensive income | (2) | 1 | |
Reclassified under assets held for sale (refer note no 2.9) | (5) | ||
Net current income tax asset / (liability) at the end | $ 617 | $ 282 | $ 274 |
Income Taxes - Summary of Movem
Income Taxes - Summary of Movement in Gross Deferred Income Tax Assets and Liabilities (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Income Taxes [Line Items] | |||
Deferred income tax assets after set off | $ 196 | $ 83 | |
Deferred income tax liabilities after set off | (82) | (32) | |
Deferred income tax assets | |||
Income Taxes [Line Items] | |||
Carrying value, beginning balance | 155 | 137 | $ 136 |
Changes through profit and loss | 49 | 16 | 8 |
Reclassified as Held for Sale | (5) | ||
Translation difference | 2 | 2 | (7) |
Carrying value, ending balance | 201 | 155 | 137 |
Deferred income tax liabilities | |||
Income Taxes [Line Items] | |||
Carrying value, beginning balance | (104) | (95) | (76) |
Changes through profit and loss | 3 | (8) | 2 |
Changes through OCI | 2 | (1) | (1) |
Reclassified as Held for Sale | 13 | ||
Additions through Business Combinations | (20) | ||
Translation difference | (1) | ||
Carrying value, ending balance | (87) | (104) | (95) |
Property, plant and equipment [member] | Deferred income tax assets | |||
Income Taxes [Line Items] | |||
Carrying value, beginning balance | 21 | 27 | 38 |
Changes through profit and loss | 12 | (6) | (9) |
Translation difference | (2) | ||
Carrying value, ending balance | 33 | 21 | 27 |
Software related | Deferred income tax assets | |||
Income Taxes [Line Items] | |||
Carrying value, beginning balance | 6 | 8 | 8 |
Changes through profit and loss | (6) | (2) | |
Carrying value, ending balance | 6 | 8 | |
Accrued compensation to employees | Deferred income tax assets | |||
Income Taxes [Line Items] | |||
Carrying value, beginning balance | 9 | 10 | 8 |
Changes through profit and loss | (8) | 3 | |
Translation difference | 1 | (1) | (1) |
Carrying value, ending balance | 2 | 9 | 10 |
Trade Receivables | Deferred income tax assets | |||
Income Taxes [Line Items] | |||
Carrying value, beginning balance | 21 | 13 | 17 |
Changes through profit and loss | 1 | 8 | (4) |
Carrying value, ending balance | 22 | 21 | 13 |
Compensated absences | Deferred income tax assets | |||
Income Taxes [Line Items] | |||
Carrying value, beginning balance | 58 | 59 | 48 |
Changes through profit and loss | (3) | 14 | |
Translation difference | (2) | 2 | (3) |
Carrying value, ending balance | 56 | 58 | 59 |
Post sales client support | Deferred income tax assets | |||
Income Taxes [Line Items] | |||
Carrying value, beginning balance | 15 | 12 | 12 |
Changes through profit and loss | 3 | ||
Carrying value, ending balance | 15 | 15 | 12 |
Derivative financial instruments | Deferred income tax assets | |||
Income Taxes [Line Items] | |||
Changes through profit and loss | 2 | ||
Carrying value, ending balance | 2 | ||
Derivative financial instruments | Deferred income tax liabilities | |||
Income Taxes [Line Items] | |||
Carrying value, beginning balance | (11) | ||
Changes through profit and loss | 11 | (11) | |
Carrying value, ending balance | (11) | ||
Intangible assets other than goodwill [member] | Deferred income tax assets | |||
Income Taxes [Line Items] | |||
Carrying value, beginning balance | 3 | 1 | |
Changes through profit and loss | (3) | 2 | 1 |
Translation difference | 1 | ||
Carrying value, ending balance | 1 | 3 | 1 |
Intangible assets other than goodwill [member] | Deferred income tax liabilities | |||
Income Taxes [Line Items] | |||
Carrying value, beginning balance | (32) | (38) | (25) |
Changes through profit and loss | 13 | 6 | 7 |
Reclassified as Held for Sale | 13 | ||
Additions through Business Combinations | (20) | ||
Carrying value, ending balance | (6) | (32) | (38) |
Credits related to branch profits | Deferred income tax assets | |||
Income Taxes [Line Items] | |||
Changes through profit and loss | 53 | ||
Translation difference | (1) | ||
Carrying value, ending balance | 52 | ||
Others | Deferred income tax assets | |||
Income Taxes [Line Items] | |||
Carrying value, beginning balance | 22 | 7 | 5 |
Changes through profit and loss | (2) | 14 | 3 |
Reclassified as Held for Sale | (5) | ||
Translation difference | 3 | 1 | (1) |
Carrying value, ending balance | 18 | 22 | 7 |
Others | Deferred income tax liabilities | |||
Income Taxes [Line Items] | |||
Carrying value, beginning balance | (11) | (6) | |
Changes through profit and loss | 4 | (3) | (5) |
Changes through OCI | 2 | (1) | (1) |
Translation difference | 1 | (1) | |
Carrying value, ending balance | (4) | (11) | (6) |
Branch profit tax | Deferred income tax liabilities | |||
Income Taxes [Line Items] | |||
Carrying value, beginning balance | (50) | (51) | (51) |
Changes through profit and loss | (25) | ||
Translation difference | (2) | 1 | |
Carrying value, ending balance | $ (77) | $ (50) | $ (51) |
Income Taxes - Summary of Mo122
Income Taxes - Summary of Movement in Gross Deferred Income Tax Assets and Liabilities (Parenthetical) (Details) $ in Millions | 12 Months Ended |
Mar. 31, 2017USD ($) | |
Income Taxes [Line Items] | |
Increase (decrease) in deferred tax liability (asset) | $ 1 |
Impact on Adoption of IFRS 9 | |
Income Taxes [Line Items] | |
Increase (decrease) in deferred tax liability (asset) | $ 1 |
Reconciliation of Basic and 123
Reconciliation of Basic and Diluted Shares Used in Computing Earnings Per Equity Share - Table of Equity Shares Used in Computation of Basic and Diluted Earnings Per Equity Share (Details) - shares | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Weighted Average Shares And Adjusted Weighted Average Shares [Abstract] | |||
Basic earnings per equity share - weighted average number of equity shares outstanding (1)(2) | 2,255,332,322 | 2,285,639,447 | 2,285,616,160 |
Effect of dilutive common equivalent shares - share options outstanding | 2,241,548 | 757,298 | 102,734 |
Diluted earnings per equity share - weighted average number of equity shares and common equivalent shares outstanding | 2,257,573,870 | 2,286,396,745 | 2,285,718,894 |
Reconciliation of Basic and 124
Reconciliation of Basic and Diluted Shares Used in Computing Earnings Per Equity Share - Additional Information (Details) - shares | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Weighted Average Shares And Adjusted Weighted Average Shares [Abstract] | |||
Number of options with anti-dilutive effect | 67,238 | 112,190 | 0 |
Related Party Transactions - Sc
Related Party Transactions - Schedule of Related Party Transactions (Details) | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Infosys Technologies (China) Co. Limited (Infosys China) | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys Technologies (China) Co. Limited (Infosys China) | |
Country | China | |
Holding as of | 100.00% | 100.00% |
Infosys Technologies S. de R. L. de C. V. (Infosys Mexico) | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys Technologies S. de R. L. de C. V. (Infosys Mexico) | |
Country | Mexico | |
Holding as of | 100.00% | 100.00% |
Infosys Technologies (Sweden) AB. (Infosys Sweden) | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys Technologies (Sweden) AB. (Infosys Sweden) | |
Country | Sweden | |
Holding as of | 100.00% | 100.00% |
Infosys Technologies (Shanghai) Company Limited (Infosys Shanghai) | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys Technologies (Shanghai) Company Limited (Infosys Shanghai) | |
Country | China | |
Holding as of | 100.00% | 100.00% |
Infosys Tecnologia DO Brasil LTDA. (Infosys Brasil) | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys Tecnologia DO Brasil LTDA. (Infosys Brasil) | |
Country | Brazil | |
Holding as of | 100.00% | 100.00% |
Infosys Public Services, Inc. USA (Infosys Public Services) | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys Public Services, Inc. USA (Infosys Public Services) | |
Country | U.S. | |
Holding as of | 100.00% | 100.00% |
Infosys Americas Inc., (Infosys Americas) | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys Americas Inc., (Infosys Americas) | |
Country | U.S. | |
Holding as of | 100.00% | 100.00% |
Infosys Chile SpA | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys Chile SpA | |
Country | Chile | |
Infosys Arabia Limited | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys Arabia Limited | |
Country | Saudi Arabia | |
Holding as of | 70.00% | |
Infosys McCamish Systems LLC | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys McCamish Systems LLC | |
Country | U.S. | |
Holding as of | 99.98% | 99.98% |
Portland Group Pty Ltd | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Portland Group Pty Ltd | |
Country | Australia | |
Holding as of | 99.98% | 99.98% |
Infosys BPO Americas LLC. | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys BPO Americas LLC. | |
Country | U.S. | |
Holding as of | 99.98% | 99.98% |
Infosys Technologies (Australia) Pty. Limited (Infosys Australia) | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys Technologies (Australia) Pty. Limited (Infosys Australia) | |
Country | Australia | |
Holding as of | 100.00% | 100.00% |
EdgeVerve Systems Limited (EdgeVerve) | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | EdgeVerve Systems Limited (EdgeVerve) | |
Country | India | |
Holding as of | 100.00% | 100.00% |
Infosys BPM Limited (formerly Infosys BPO Limited) | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys BPM Limited (formerly Infosys BPO Limited) | |
Country | India | |
Holding as of | 99.98% | 99.98% |
Infosys (Czech Republic) Limited s.r.o. | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys (Czech Republic) Limited s.r.o. | |
Country | Czech Republic | |
Holding as of | 99.98% | 99.98% |
Lodestone Management Consultants Inc | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Lodestone Management Consultants Inc. | |
Country | U.S. | |
Holding as of | 100.00% | 100.00% |
Infosys Poland, Sp z.o.o | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys Poland, Sp z.o.o | |
Country | Poland | |
Holding as of | 99.98% | 99.98% |
Lodestone Augmentis AG | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Lodestone Augmentis AG | |
Country | Switzerland | |
Infosys Consulting Holding AG (Infosys Lodestone) | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys Consulting Holding AG (Infosys Lodestone) | |
Country | Switzerland | |
Holding as of | 100.00% | 100.00% |
Infosys Consulting (Belgium) NV (formerly Lodestone Management Consultants (Belgium) S.A.) | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys Consulting (Belgium) NV (formerly Lodestone Management Consultants (Belgium) S.A.) | |
Country | Belgium | |
Holding as of | 99.90% | 99.90% |
Infosys Management Consulting Pty Limited | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys Management Consulting Pty Limited | |
Country | Australia | |
Holding as of | 100.00% | 100.00% |
Infosys Consulting AG | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys Consulting AG | |
Country | Switzerland | |
Holding as of | 100.00% | 100.00% |
Infosys Consulting GmbH | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys Consulting GmbH | |
Country | Germany | |
Holding as of | 100.00% | 100.00% |
Lodestone Management Consultants GmbH | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Lodestone Management Consultants GmbH | |
Country | Austria | |
Holding as of | 100.00% | 100.00% |
Infosys Consulting SAS | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys Consulting SAS | |
Country | France | |
Holding as of | 100.00% | 100.00% |
Infosys Consulting s.r.o | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys Consulting s.r.o. | |
Country | Czech Republic | |
Holding as of | 100.00% | 100.00% |
Lodestone Management Consultants Co., Ltd. | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Lodestone Management Consultants Co., Ltd. | |
Country | China | |
Holding as of | 100.00% | 100.00% |
Infy Consulting Company Ltd. | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infy Consulting Company Ltd | |
Country | U.K. | |
Holding as of | 100.00% | 100.00% |
Infy Consulting B.V. | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infy Consulting B.V. | |
Country | The Netherlands | |
Holding as of | 100.00% | 100.00% |
Infosys Consulting Sp. z.o.o | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys Consulting Sp. z.o.o | |
Country | Poland | |
Holding as of | 100.00% | 100.00% |
Lodestone Management Consultants Portugal, Unipessoal, Lda. | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Lodestone Management Consultants Portugal, Unipessoal, Lda. | |
Country | Portugal | |
Holding as of | 100.00% | 100.00% |
S.C. Infosys Consulting S.R.L. | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | S.C. Infosys Consulting S.R.L. | |
Country | Romania | |
Holding as of | 100.00% | 100.00% |
Infosys Consulting S.R.L. | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys Consulting S.R.L. | |
Country | Argentina | |
Holding as of | 100.00% | 100.00% |
Infosys Canada Public Services Ltd. | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys Canada Public Services Ltd. | |
Country | Canada | |
Lodestone GmbH | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Lodestone GmbH | |
Country | Switzerland | |
Infosys Nova Holdings LLC (Infosys Nova) | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys Nova Holdings LLC. (Infosys Nova) | |
Country | U.S. | |
Holding as of | 100.00% | 100.00% |
Panaya Inc (Panaya) | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Panaya Inc. (Panaya) | |
Country | U.S. | |
Holding as of | 100.00% | 100.00% |
Infosys Consulting Ltda | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys Consulting Ltda. | |
Country | Brazil | |
Holding as of | 99.99% | 99.99% |
Panaya Ltd | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Panaya Ltd. | |
Country | Israel | |
Holding as of | 100.00% | 100.00% |
Panaya Gmbh | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Panaya GmbH | |
Country | Germany | |
Holding as of | 100.00% | 100.00% |
Panaya Pty Ltd | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Panaya Pty Ltd. | |
Country | Australia | |
Panaya Japan Co. Ltd | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Panaya Japan Co. Ltd | |
Country | Japan | |
Holding as of | 100.00% | 100.00% |
Skava Systems Pvt Ltd (Skava Systems) | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Skava Systems Pvt. Ltd. (Skava Systems) | |
Country | India | |
Holding as of | 100.00% | 100.00% |
Kallidus Inc.(Kallidus) | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Kallidus Inc. (Kallidus) | |
Country | U.S. | |
Holding as of | 100.00% | 100.00% |
Noah Consulting LLC (Noah) | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Noah Consulting LLC (Noah) | |
Country | U.S. | |
Holding as of | 100.00% | |
Noah Information Management Consulting Inc (Noah Canada) | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Noah Information Management Consulting Inc. (Noah Canada) | |
Country | Canada | |
Holding as of | 100.00% | |
Brilliant Basics Holdings Limited | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Brilliant Basics Holdings Limited | |
Country | U.K. | |
Holding as of | 100.00% | |
Brilliant Basics Limited | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Brilliant Basics Limited | |
Country | U.K. | |
Holding as of | 100.00% | |
Brilliant Basics (MENA) DMCC | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Brilliant Basics (MENA) DMCC | |
Country | Dubai | |
Holding as of | 100.00% | |
Infosys Consulting Pte Limited | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys Consulting Pte Limited | |
Country | Singapore | |
Holding as of | 100.00% | 100.00% |
Infosys Middle East FZ LLC | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys Middle East FZ LLC | |
Country | Dubai | |
Holding as of | 100.00% |
Related Party Transactions -126
Related Party Transactions - Schedule of Related Party Transactions (Parenthetical) (Details) | Sep. 08, 2017 | Mar. 31, 2018 |
Infosys Chile SpA | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Incorporation effective date | Nov. 20, 2017 | |
Infosys Canada Public Services Ltd. | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Liquidation effective date | May 9, 2017 | |
Lodestone GmbH | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Liquidation effective date | Dec. 21, 2016 | |
Lodestone Augmentis AG | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Liquidation effective date | Oct. 5, 2016 | |
Panaya Pty Ltd | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Liquidation effective date | Nov. 16, 2016 | |
Noah Consulting LLC (Noah) | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Liquidation effective date | Nov. 9, 2017 | |
Noah Information Management Consulting Inc (Noah Canada) | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Liquidation effective date | Dec. 20, 2017 | |
Brilliant Basics Holdings Limited | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Voting interest in subsidiary | 100.00% | |
Acquisition date | Sep. 8, 2017 |
Related Party Transactions - Ad
Related Party Transactions - Additional Information (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Disclosure Of Transactions Between Related Parties [Line Items] | |||
Dividends received from owned subsidiary | $ 130 | ||
Chief Executive Officer and Managing Director | |||
Disclosure Of Transactions Between Related Parties [Line Items] | |||
Appointment term | 5 years | ||
Infosys Consulting AG | |||
Disclosure Of Transactions Between Related Parties [Line Items] | |||
Dividends received from owned subsidiary | $ 4 | $ 2 | |
Tax on dividend | |||
Infy Consulting Company Ltd. | |||
Disclosure Of Transactions Between Related Parties [Line Items] | |||
Dividends received from owned subsidiary | 3 | 5 | |
Tax on dividend | |||
Infosys BPM Limited (formerly Infosys BPO Limited) | Group | |||
Disclosure Of Transactions Between Related Parties [Line Items] | |||
Dividends received from owned subsidiary | 130 | ||
Tax on dividend | 27 | ||
S.C. Infosys Consulting S.R.L. | |||
Disclosure Of Transactions Between Related Parties [Line Items] | |||
Dividends received from owned subsidiary | 1 | ||
Tax on dividend |
Related Party Transactions -128
Related Party Transactions - Schedule of List of Associates (Details) - D W A Nova L L C | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Disclosure Of Significant Investments In Associates [Line Items] | ||
Name of associates | DWA Nova LLC (DWA Nova) | |
Country | U.S. | |
Holding | 16.00% |
Related Party Transactions -129
Related Party Transactions - Schedule of List of Associates (Parenthetical) (Details) - D W A Nova L L C - USD ($) $ in Millions | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2015 | |
Disclosure Of Significant Investments In Associates [Line Items] | |||
Voting interest acquired | 16.00% | 20.00% | |
Cash consideration | $ 15 | ||
Liquidation effective date | Nov. 17, 2017 | ||
Impairment loss | $ 11 | $ 3 |
Related Party Transactions -130
Related Party Transactions - Schedule of List of Other Related Parties (Details) | 12 Months Ended |
Mar. 31, 2018 | |
Infosys Limited Employees' Gratuity Fund Trust | |
Disclosure Of Transactions Between Related Parties [Line Items] | |
Name of other related parties | Infosys Limited Employees' Gratuity Fund Trust |
Country | India |
Nature of relationship | Post-employment benefit plan of Infosys |
Infosys Limited Employees' Provident Fund Trust | |
Disclosure Of Transactions Between Related Parties [Line Items] | |
Name of other related parties | Infosys Limited Employees' Provident Fund Trust |
Country | India |
Nature of relationship | Post-employment benefit plan of Infosys |
Infosys Limited Employees' Superannuation Fund Trust | |
Disclosure Of Transactions Between Related Parties [Line Items] | |
Name of other related parties | Infosys Limited Employees' Superannuation Fund Trust |
Country | India |
Nature of relationship | Post-employment benefit plan of Infosys |
Infosys BPM Limited Employees’ Superannuation Fund Trust (formerly Infosys BPO Limited Employees’ Superannuation Fund Trust) | |
Disclosure Of Transactions Between Related Parties [Line Items] | |
Name of other related parties | Infosys BPM Limited Employees’ Superannuation Fund Trust (formerly Infosys BPO Limited Employees’ Superannuation Fund Trust) |
Country | India |
Nature of relationship | Post-employment benefit plan of Infosys BPM |
Infosys BPM Limited Employees’ Gratuity Fund Trust (formerly Infosys BPO Limited Employees’ Gratuity Fund Trust) | |
Disclosure Of Transactions Between Related Parties [Line Items] | |
Name of other related parties | Infosys BPM Limited Employees’ Gratuity Fund Trust (formerly Infosys BPO Limited Employees’ Gratuity Fund Trust) |
Country | India |
Nature of relationship | Post-employment benefit plan of Infosys BPM |
EdgeVerve Systems Limited Employees‘ Gratuity Fund Trust | |
Disclosure Of Transactions Between Related Parties [Line Items] | |
Name of other related parties | EdgeVerve Systems Limited Employees‘ Gratuity Fund Trust |
Country | India |
Nature of relationship | Post-employment benefit plan of EdgeVerve |
EdgeVerve Systems Limited Employees’ Superannuation Fund Trust | |
Disclosure Of Transactions Between Related Parties [Line Items] | |
Name of other related parties | EdgeVerve Systems Limited Employees’ Superannuation Fund Trust |
Country | India |
Nature of relationship | Post-employment benefit plan of EdgeVerve |
Infosys Employees’ Welfare Trust | |
Disclosure Of Transactions Between Related Parties [Line Items] | |
Name of other related parties | Infosys Employees’ Welfare Trust |
Country | India |
Nature of relationship | Controlled Trust |
Infosys Employee Benefits Trust | |
Disclosure Of Transactions Between Related Parties [Line Items] | |
Name of other related parties | Infosys Employee Benefits Trust |
Country | India |
Nature of relationship | Controlled Trust |
Infosys Science Foundation | |
Disclosure Of Transactions Between Related Parties [Line Items] | |
Name of other related parties | Infosys Science Foundation |
Country | India |
Nature of relationship | Controlled Trust |
Related Party Transactions -131
Related Party Transactions - Schedule of Compensation to Key Management Personnel (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Disclosure Of Key Management Personnel Stock Compensation Expense [Abstract] | |||
Salaries and other employee benefits to whole-time directors and executive officers | $ 8 | $ 12 | $ 15 |
Commission and other benefits to non-executive / independent directors | 2 | 2 | 2 |
Total compensation | $ 10 | $ 14 | $ 17 |
Related Party Transactions -132
Related Party Transactions - Schedule of Compensation to Key Management Personnel (Parenthetical) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Disclosure Of Key Management Personnel Stock Compensation Expense [Line Items] | |||
Employee stock compensation expense | $ (2,000) | $ 5,000 | $ 1,000 |
Former Chief Executive Officer and Managing Director | |||
Disclosure Of Key Management Personnel Stock Compensation Expense [Line Items] | |||
Reversal of stock compensation cost toward forfeiture of stock incentives | 5,000 | ||
Whole Time Directors And Executive Officers | |||
Disclosure Of Key Management Personnel Stock Compensation Expense [Line Items] | |||
Employee stock compensation expense | $ (2,000) | 5,000 | 1,000 |
General Counsel and Chief Compliance Officer | |||
Disclosure Of Key Management Personnel Stock Compensation Expense [Line Items] | |||
Amount payable under severance agreement | $ 870 | ||
Chief Financial Officer | |||
Disclosure Of Key Management Personnel Stock Compensation Expense [Line Items] | |||
Amount payable under severance agreement | $ 2,580 | ||
Chief Executive Officer and Managing Director | |||
Disclosure Of Key Management Personnel Stock Compensation Expense [Line Items] | |||
Appointment term | 5 years |
Segment Reporting - Schedule of
Segment Reporting - Schedule of Segmented Information (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Disclosure of Operating Segments [Line Items] | |||
Revenues | $ 10,939 | $ 10,208 | $ 9,501 |
Identifiable operating expenses | 5,553 | 5,104 | 4,601 |
Allocated expenses | 2,438 | 2,329 | 2,301 |
Segment profit | 2,948 | 2,775 | 2,599 |
Unallocable expenses | 289 | 255 | 224 |
Operating profit | 2,659 | 2,520 | 2,375 |
Other income, net | 495 | 459 | 476 |
Share in associate's profit/ (loss), including impairment | (11) | (5) | |
Profit before Income taxes | 3,143 | 2,974 | 2,851 |
Income tax expense | 657 | 834 | 799 |
Net profit | 2,486 | 2,140 | 2,052 |
Depreciation and amortization charges | 289 | 254 | 222 |
Non-cash expenses other than depreciation and amortisation | 29 | 1 | 2 |
All Other Segments | |||
Disclosure of Operating Segments [Line Items] | |||
Revenues | 311 | 330 | 260 |
Identifiable operating expenses | 180 | 210 | 156 |
Allocated expenses | 71 | 76 | 65 |
Segment profit | 60 | 44 | 39 |
Operating Segments | North America | |||
Disclosure of Operating Segments [Line Items] | |||
Revenues | 6,605 | 6,320 | 5,957 |
Identifiable operating expenses | 3,429 | 3,222 | 2,936 |
Allocated expenses | 1,494 | 1,460 | 1,459 |
Segment profit | 1,682 | 1,638 | 1,562 |
Operating Segments | Europe | |||
Disclosure of Operating Segments [Line Items] | |||
Revenues | 2,596 | 2,295 | 2,186 |
Identifiable operating expenses | 1,324 | 1,147 | 1,060 |
Allocated expenses | 586 | 529 | 534 |
Segment profit | 686 | 619 | 592 |
Operating Segments | India | |||
Disclosure of Operating Segments [Line Items] | |||
Revenues | 346 | 325 | 246 |
Identifiable operating expenses | 141 | 149 | 109 |
Allocated expenses | 66 | 66 | 51 |
Segment profit | 139 | 110 | 86 |
Operating Segments | Rest of the World | |||
Disclosure of Operating Segments [Line Items] | |||
Revenues | 1,392 | 1,268 | 1,112 |
Identifiable operating expenses | 659 | 586 | 496 |
Allocated expenses | 292 | 274 | 257 |
Segment profit | 441 | 408 | 359 |
Operating Segments | Financial Services | |||
Disclosure of Operating Segments [Line Items] | |||
Revenues | 2,891 | 2,765 | 2,590 |
Identifiable operating expenses | 1,470 | 1,382 | 1,248 |
Allocated expenses | 613 | 607 | 606 |
Segment profit | 808 | 776 | 736 |
Operating Segments | Manufacturing | |||
Disclosure of Operating Segments [Line Items] | |||
Revenues | 1,194 | 1,119 | 1,047 |
Identifiable operating expenses | 641 | 584 | 555 |
Allocated expenses | 271 | 259 | 257 |
Segment profit | 282 | 276 | 235 |
Operating Segments | Energy & Utilities, Communication and Services | |||
Disclosure of Operating Segments [Line Items] | |||
Revenues | 2,599 | 2,300 | 2,061 |
Identifiable operating expenses | 1,305 | 1,107 | 944 |
Allocated expenses | 589 | 532 | 505 |
Segment profit | 705 | 661 | 612 |
Operating Segments | Retail, Consumer Packaged Goods and Logistics | |||
Disclosure of Operating Segments [Line Items] | |||
Revenues | 1,722 | 1,673 | 1,556 |
Identifiable operating expenses | 828 | 802 | 742 |
Allocated expenses | 390 | 387 | 381 |
Segment profit | 504 | 484 | 433 |
Operating Segments | Life Sciences, Healthcare and Insurance | |||
Disclosure of Operating Segments [Line Items] | |||
Revenues | 1,438 | 1,258 | 1,231 |
Identifiable operating expenses | 713 | 623 | 585 |
Allocated expenses | 326 | 291 | 302 |
Segment profit | 399 | 344 | 344 |
Operating Segments | Hi-Tech | |||
Disclosure of Operating Segments [Line Items] | |||
Revenues | 784 | 763 | 756 |
Identifiable operating expenses | 416 | 396 | 371 |
Allocated expenses | 178 | 177 | 185 |
Segment profit | $ 190 | $ 190 | $ 200 |
Segment Reporting - Additional
Segment Reporting - Additional Information (Details) - Customer | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Information About Major Customers [Abstract] | ||
Number of client individually accounted for more than 10% of revenue | 0 | 0 |